Ryan: Reasonable Chance of a Debt Crisis

Paul Ryan, Former Speaker of the House and Teneo Vice Chairman takes us through some of the economic issues that the next president might face, including a debt crisis. He speaks to David Westin at the Milken Global Institute Conference in Beverly Hills.
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[@radar0412]

Paul Ryan put together the Simpson/Bowles deficit reduction Commission, and then quickly proceeded to vote AGAINST their deficit reduction plans. 😅😅

[@tatianastarcic]

The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenback. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...

[@Michaelparker12]

They do say gold will crash in a liquidity crunch However, many of those holding precious metals are preparing for such an event. So they are unlikely to be forced sellers. The paper market would tank and hopefully collapse.

[@berniceburgos-]

Hearing from an experienced investor who has survived adversity and prevailed is always motivating. It may be frightening when your portfolio goes from green to red, but if you have invested in strong firms, you should maintain growing them and stick to your goal.

[@nicolasbenson009]

It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.

[@BridgetMiller-]

This sound interesting. I’m not really one to use pro analysts, but I guess it would not hurt to try one. My portfolio is in the red waters right now

[@nicolasbenson009]

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

[@Pug318]

Personally, I liked Paul Ryan but when he was speaker of the house, he gave President Trump budgets that added $1 trillion deficit. He’s no better than the rest of the politicians and when he had his power, he added to the deficit just like they all do.

[@gddlsllc]

While in congress he brought the debt from 5 trillion to 20 trillion. This man is a disgrace

[@tjsokkerplayer]

What a ridiculous point of view. As if one man is solely responsible for the debt bubble. Also do you want to give him credit for the stock market going up during the same time period?

[@gddlsllc]

@@tjsokkerplayer You might consider that congress IS the entity with the power of the purse. Congress is also about the ONLY entity with oversight over federal agencies, real (agencies,) or imaginary (The Fed). Not only he sat in congress and oversaw the debt go from 5 to over 20 trillion, but he was majority in congress for a good part, and he himself held the highest post, for a good while. His power over the purse was direct and indirect, by way of the laws, regulations, wars, failure of oversight, measures and every single action that he took, or did not take, which in the end, led us astray. He is culpable, to be sure.

[@asc5882]

System problem. Debt has become a function of time: Debt at year D[y]= 2^((D[y] -1983)/8). System is incapable of making difficult decisions

[@apex3821]

@@tjsokkerplayer He is the PRESIDENT this means its ALL on him. That is the standard.

[@marko6657]

Ryan had many times to fix the government debt problem and did nothing. Can’t complain now.

[@GrahamTube4u]

2 years ago I watched him in an interview say America will never default on its debts.

[@ronsilva7394]

This man orchestrated the mess we are in today .

[@enhancedutility266]

Right it could have been fixed 2011-2012

[@KK-pm7ud]

Did he? Or was it the Koch's?

[@jamesklaatu9359]

Been decades in the making.

[@martinpalm5]

@@enhancedutility266 which was the best time to fix it. Covid was the last nail in coffin.

[@willrose5424]

Proxy wars

[@GrantDWilliams82]

It's easy to complain about how nobody on the Hill has the guts to talk about entitlement reform... when you're not on the Hill anymore. This guy was everything he just criticized... when he was there. Don't let him lie to you.

[@enhancedutility266]

Yeah he's been in office since 1999 and the only legislation he's ever passed is garbage

[@radar0412]

Yep. Ryan voted Against HIS OWN deficit reduction Commission Simpson/Bowles.

[@bretrudeseal4314]

People being stupid enough to buy our bonds is what has enabled the Congress' spending addiction. You can't wish away this debt, you either repudiate it or you cut the budget.

[@chessdad182]

35T in government debt is 35T in assets for non-government. To eliminate government debt, need to take 35T from others. Would create a depression. Review the history of balanced budgets by US government and the corresponding recessions/depressions that occurred in US history.

[@donaldharlan3981]

That guy you're blaming for Paul Ryan on Bloomberg is much taller and meaner than the real Paul Ryan. I would never buy flowers from a person like that.

[@jsudlow12]

I did like at the end when he said “we can solve these problems if we have serious politics, we don’t have serious politics right now”

[@dang328]

Thanks for helping with the debt! Helping grow it I mean

[@tjsokkerplayer]

Sounds like a very sensible and reasoned perspective from Paul Ryan. Who would have thought stable coins would be another measure to strengthen the US Dollar. But it makes sense.

[@robertlelis3410]

Ol Lyin' Ryan

[@markburnham7512]

Issue #1 is out of control debt. How can you decide how to tax when spending is out of control?

[@ThatonedudeCR12956]

Obviously by cutting taxes for the top 1% and raising them on people making minimum wage. That's their actual answer. They are not serious people and should not be taken seriously. This has been obvious since the 80s and they are either flat out ignoring reality or being dishonest.

[@romeomargot-picquendar1281]

Well it's not rocket science, you either increase taxes to support the spending, you cut the spending, or a little bit of both. The dilemma for a politician is that both are costly politically, and since all they care about is staying in power, no one has the willpower to do anything on the issue. If nothing is done, Social Security will run out of funds by 2034.

[@manatee419]

Instead of cutting spending on Medicare , how about cutting spending? On government pay raises and giving money to other countries in incorporate hangouts.

[@774kblake]

GREAT idea!!! Let's listen to the ARSONIST who helped start the fire now suddenly COMPLAIN about the fire HE STARTED?!!! WTF?!

[@Rust_Belt_Capital]

Paul… you don’t support Trump as a “Republican” then you can’t complain with the alternative

[@eliseumalo4069]

Paul Ryan should be running for President.

[@briantep458]

35T DEBT

[@Whitemink32]

1 turd in the toilet

[@user-ec3rm9wr1n]

My my my ...

[@ThatonedudeCR12956]

We better reduce taxes to 0% for billionaires and use all the money we make on that for...for..what are we taxing people for again? So cut taxes and zero out spending and let America rot? Is that the answer?

[@chessdad182]

Or 35T in assets held by others including the private sector. In order to reduce it to zero, you would need to remove 35T in assets from others.

[@bleacherz7503]

@@chessdad182guy is a criminal - stole from poor and gave to the rich

[@nicholaselliott2484]

He had me til he mentioned stable coins

[@ThePlastic111]

How come? Do you know a lot about stable coins?

[@commentaccount2750]

I don’t recall him speaking out against CARES.

[@clarencehoover6748]

The Federal Reserve has only one product: Debt. The system is inherently flawed to eventually fail from the very first FRN issued with interest attached; whether or not this was the original intent is irrelevant. Even Keynes knew this and privately admitted to the eventual collapse of this scheme. Mathematically, debt can never ever be paid off; otherwise the system would implode. Rather, the debt must continue to grow and more importantly, grow at increasing rates for the system to sustain. Yes, temporary tapers can be imposed, but that is followed by a gush of currency creation to satisfy the quantity of FRNs to catch up with the required point on the underlying monetary creation curve that must be satisfied like a rigid secret foundational law of this system based on the underlying mathematics. But this Ponzi has its limit. The wall approaches.

[@id10t98]

You and Keynes couldn't be more wrong. Particularly when one entity spends $1 trillion every year under the guise of defense.

[@albertfernandez6315]

Ryan lost me with those pants

[@NPC-bs3pm]

Those socks! 🫣

[@bvssrsguntur6338]

No wonder why there is no control or focus on debt

[@lisizecha9759]

@11:50 "Bond finance the boomers" means that GenZ does three things at once: Pay the high apartment rents to create Boomer retirement income Pay interest on bonds to finance Boomer health care Put money aside for their own retirement That must be a real go-get-them attitude by these GenZs On the other hand: Have you met them

[@jro7815]

These politicians are despicable and truly hate young people. We can reduce deficits by cutting every entitlement that solely benefits the boomers and the military and just focusing on helping the younger generations succeed.

[@user-se2uv8cl4p]

Gen Z'ers have a road rage problem. They are all pissed off at the world.

[@DaveWells300]

Peewee Herman?

[@user-vb5in3pu3s]

Can we hear more on what he means by a debt crisis

[@enhancedutility266]

The debt has grown much larger in the size of the economy the debt to income ratio on the national day is running at 125+ percent anytime debt reaches that ratio alarm bells start to ring

[@douglaspmatheny]

Ryan always talks about cutting social security and taxes.

[@craigbauer426]

I can’t tell who spun 180-degrees faster - Ryan on the Debt Crisis or Barr on Trump being technically fit to lead the country.

[@utube7917]

- *MONEY* *DOES* *NOT* *REQUIRE* a ledger, just to simply exist. - Ledgers are just an optional service that you can use, as a record of ownership, for the money that is stored on your behalf. But a written ledger is never the money itself, because YOUR OWN money, when held personally in your own hands, does not require anyone to keep track of it for you!! - In the best case scenario, the sole purpose of a ledger is to track and trace ownership, but in the worst case scenario, it is to track and trace a population for total control. - If you have a ledger written out on paper, with no underlying physical asset, then it is just a worthless piece of paper. It's a physical claim check on nothing. If it is a digital ledger, then it is just a worthless digital record, that is a claim check on nothing. - Ledgers are clearly NOT MONEY and never will be. Its a scam.

[@moneyevery3days7]

Depends on what you consider money. If you value precious metals and intend to store and transact with it personally, then a ledger is not required. Most people agree that money comes from a bank which comes from a central bank so by that definition ledgers would be required.

[@utube7917]

@@moneyevery3days7 the definition of money goes back thousands of years. Today people who are uneducated think that currency is the same thing as money, but it is not. Money has several characteristics including being a physical commodity that is divisible, a medium of exchange, a store of value, unit of account, fungible, durable and transportable. Currency, like digital fiat or paper fiat, fails a number of these criteria, especially durability. Bitcoin is a fiat currency that is just a digital ledger that is recorded in electronics that is not durable. One single solar event like the Carrington event would wipe out all record of digital currency. Chemical elements of the universe like gold and silver, which are inert, don't react with water or oxygen and are not radioactive, last for eternity and are extremely durable metal. Being chemical elements, they are compmetely fungible down to the atomic level. They are divisuble, a medium of exchange, unit of account and a store of value for over 6,000 years. Best of all, easily transportable. When silver is too cumbersome, gold can transport 100,000 or more in just your pockets. 10 ounces is less than a pound and worth about $24,000 US fiat dollars atm. Real money does not depend on. Electricity or a ledger simply to exist. It is not an imaginary commodity in a digital record in your mind. Gold and silver are real and are a physical reality. They are sound money that cannot be inflated to oblivion, but have real intrinsic value in their utility due to their elemental properties that make them the most precious of all metals. You can use paper fiat dollars or digital fiat bitcoin, but they are just currencies and not real or sound money like gold and silver. What you like emotionally and by your opinion is just your subjective opinion, but it does not change these facts. A digital fiat ledger system like bitcoin can never be true money by its very nature. The most it can ever be is a fiat system to track and control people. The US government takes bitcoin right out of your wallet whenever they want, just like they did to those ransomware attackers.

[@pangmeister]

Ryan, I am in between too and I am with you.

[@InnocentCardGame-sz2be]

Do we need to create a mild debt crisis to prevent a major one? Strange.. scares me i even wrote that... we don't have the mental and intestinal fortitude to do the difficult things that are necessary. I don't even want to mow the grass or work hard at my job. Let alone save the world itself. People are strange.

[@sandburgmartin7947]

Bet he's about to write a book. This is the initializer to bump up his "initial" advance on the book.

[@KingRat71]

We need to reverse the tax cuts on the roch and business from the last 70+ years. Business used to be forced to reinvest in growth to avoid taxation on profits. With those taxes reduced now they focus on stock prices and dividends. And the rich already own over 90% of everything. They clearly dont need any tax cuts and in fact need to make up for not paying their fair share. When they own 90%+ of everything they need to be paying 90%+ of the tax burden.

[@PaArriba]

💯🎯

[@stevenobinator2229]

Fed will force banks to buy, simple

[@craigcolbourn]

Debt crisis? What’s that? More like a money printing crisis.

[@JscottMays]

Ryan didn't listen when Fed chair corrected his misunderstanding. Still hasn't.

[@babyimHOME]

Bitcoin duh

[@1dantown]

Do you notice how our friend Paul here never balanced the federal budget, $15 trillion of lesser debt, ago. *_Now_* he whines about it.

[@mikemcglauflin8985]

Baitcoin; It looks like currency but it's tech based government.

[@ryanflippin1243]

Greasy politicians

[@sheabilladeau1392]

How about this? Don't tax me for medicare or SS and I will provide my own plans to take care of my family for retirement and medicare so I am not funding someone else's life. Give me back the money I put into it already that I would never see otherwise. Stop the taxes and stop benefits. It is possible. This is the way.

[@dinkeydink9376]

Ryan has more energy than the two old pensioners, the President candidates, together. How could US end up with them? They never let Biden talk like this, coz he can't...

[@johnmccann7578]

Last quote: Healthcare entitlements are biggest drivers of our debt.

[@sandburgmartin7947]

Only the "deserving" wealthiest, like him, should get health care, right??

[@Here4TheHeckOfIt]

Military spending is the largest driver. Let's face it, people are not important to the Republicans 😂 We are nothing more than stats and numbers.

[@bluewatermiles]

Debt crisis is based on flat earther economics. Update to MMT and focus on actual issues

[@martinpalm5]

how much did the CCP pay this guy?

[@class1188]

😅😅😅

[@cerealpeer]

rofl, what?! correction: WE ARE ABSOLUTELY CERTAIN OF A CURRENTLY ONGOING CRISIS OF DEBT

[@TheGenFem]

I can’t afford anymore taxes

[@danielscott1409]

Flip why don't they just make this guy President, at least he's smart

[@jasondude7566]

im a democrat, and I will vote for this guy for president. Never Trump, but this guy is normal. We need normal

[@BTC_Patriot]

Bitcoin fixes this.

[@billb89]

I'd say it's likely we'll see a debt crisis.

[@bjohns347347]

Ryan is way smarter than Trump.

[@NPC-bs3pm]

All depends on how much you secretly LOVE the Republican party🫤

[@ronsilva7394]

He lost which makes him a …….

[@NPC-bs3pm]

@@ronsilva7394Ah... a 'Loser' 😓?

[@suresh_elonbro]

i support tax cuts but i am worried about debt crisis. i support 3 wars in 3 continents. what else?

[@MarekKolenda-cr8vr]

Debt ceiling limit ends in January 2024

[@kingtosin]

good people in congress, wtf have they done?

[@b_easy0823]

He has all the solutions after the fact now that he’s retired. What did you do while in Congress?!!?!!? Added trillions of dollars to the National Debt while speaker under Trump’s Admin. Who are you fooling?

[@user-vb5in3pu3s]

If the president doesnt have a plan for the debt then congress should have a plan for the debt crisis the president gets the blame but congress is who is at fault.

[@lisizecha9759]

The USD is about to become unstable Stable coins are stable, because they are pegged to the USD 🙂

[@fallonmassey4714]

*Paul Ryan looking for more ways for us to cheat! We want fairness, but refuse to give it!*

[@Questioneverything2050]

Interviewer talks like Jamie dimon

[@stone1537]

No.! You don’t saay.!

[@class1188]

Cant understand word

[@user-ys5qp4bq4s]

You can talk cute until the bond market gets Liz Trussed.

[@stevechilcoat2353]

It's hard to listen to him seriously. He is so informed about tax policy and did some good things, and yet he's not going to vote for Trump? There is some kind of disconnect with this former politician.

[@Here4TheHeckOfIt]

People like Mitt Romney and Paul Ryan helped create this debt crisis. They are now sounding the alarm, trying to come off like seers 🙄

[@surfbum8166]

Stable coins won’t save the dollar

[@class1188]

Ai robots taking over jobs not humans

[@roc7880]

he forgot to mention his party repeated tax cuts led to deficits and higher debt. his solution was always more tax cuts. amazing logic indeed

[@robertj8610]

what about the government cancer of overspending my money, Einstein

[@upticktrade]

$Dollar is always going to be king. Betcha, he rather hold $Dollar than any other currencies. Talk is cheap. So many talk the opposite what they do.

[@bkfabs]

He was part of the problem when he was in congress…now he talks tough…typical politician.

[@bleacherz7503]

Criminal should be in jail

[@Alex-de8kd]

Shyster.

[@karld6309]

8 trillion or so on the fed balance sheet. The debt has already been monetized.

[@SingleSuccessfulMomMBA1422]

We need absolutely tariffs on foreign goods. America first, we need to protect ourselves and our workers.

[@expand9487]

Both party are stupid.

[@gregorygreene1940]

Hard to take him seriously when he was a contributor to why the debt is so high. He's a hypocrite.

[@DKK]

Screw Paul Ryan

[@gumby7919]

Use the money you send to Ukraine and fund Social Security…it’s easy

[@chrisslc1106]

He has literally been saying this for over 20 years, why do people treat it as news?

[@SorosGeorg]

Bloomberg didn't mention Paul Ryan is a lobbyist for Chinese trade.😎

[@KK-pm7ud]

Where is that information confirmed?

[@KK-pm7ud]

Why isn't this guy a choice?

[@guru47pi]

This guy played someone who cared about deficits and fiscal responsibility on TV, but made many of the worst decisions possible during the 2000's to expand the deficit with unfunded tax cuts and many other poor decisions, like blocking many other reforms. In short, he's a clown hoping no one watching has a memory of his actual career.

[@user-ly7xe5mj8z]

RINO Ryan

[@imtryinghere1]

I don't really care for Ryan, but RINO is such a pathetic label. Don't MAGA idiots get tired of using the same childish cliche to label everyone they don't like as RINO? Mitt Romney is a RINO. Nikki Haley is a RINO. Michael Steele is a RINO. Ron DeSantis is a RINO. Blah blah blah.

[@nicholaselliott2484]

He is at least bringing up the debt, many populists are closer to Rinos than this position.

[@andrewkroger701]

You did NOTHING Paul.

[@MarekKolenda-cr8vr]

Fed and Powell play political games before November election

[@bleacherz7503]

Living lies

[@PaArriba]

He should run for office!

[@Kendye6]

gov't sucks at everything. The smaller the better. Stop taxing. Cut spending, it's absurd, taxation is already way too high and way too broad.

[@bro.radcliffe9453]

RFK jr

[@sumitomoO0O]

Europe pays $8/gallon for gas...USA pays $3/gallon. Just put a $5/gallon special sales tax on gas. That will raise revenue, reduce air pollution, reduce lung cancer, reduce the oil waste. Teach a lesson to big boys who commute to their office jobs driving big trucks. This non-sense only happens in USA. Nobody has the freedom to give me lung cancer

[@user-ec3rm9wr1n]

😢..

[@drscopeify]

The problem with that is it leads to inflation on things like food and goods and driving/transportation fares so the impact hits the most on the lowest earners. People who make the least suffer the most from that kind of tax. You can have a little bit increase like $1 let's say

[@alphaomega1351]

I condemn your comment! 😳

[@screugneugneu1]

I would prefer a tax on stupid comment

[@christiancoronado]

He was doing well. Why did he have to bring stable coins

[@lawrencefeldman462]

Digital Dollar 💰...bye bye Bitcoin.

[@noName-kn1lx]

Mr RIno

[@RoastieToastie1]

Tea party dunce