Is The U.S. Going Bankrupt? Debt Growth Is 'Explosive' | Barry Eichengreen

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David Lin

David Lin

Күн бұрын

Barry Eichengreen, the Distinguished Professor of Economics and Political Science at UC Berkeley, discusses the effect on rising debt levels in the U.S. on the economy and growth.
*This video was recorded on April 26, 2024
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*This video is not financial advice. The channel is not responsible for the performance of sponsors and affiliates.
0:00 - Intro
2:17 - Debt crisis
7:00 - Capital gains tax increase
9:20 - Public debt and emergencies
13:38 - Fiscal dominance
15:00 - Debt failures
16:16 - Argentina and dollarization
17:10 - Debt consolidation
19:45 - Optimal tax rate
21:23 - How to cut debt
23:27 - MMT
24:00 - Debt and stock markets
26:00 - History of reserve assets
27:42 - Will China supplant U.S.
30:33 - New world reserve currency
32:50 - CBDCs
39:40 - Dedollarization
#economy #economics #investing

Пікірлер: 804
@cl5619
@cl5619 17 күн бұрын
This guy is a Keynesian clown
@joec8942
@joec8942 16 күн бұрын
So is your dad. Now we have you. Sad
@mattolivier1835
@mattolivier1835 16 күн бұрын
Yup! They're all Keynesians. Fools and losers.
@difigfs
@difigfs 16 күн бұрын
Worse.
@3ebra777
@3ebra777 16 күн бұрын
Everything is under control, we just need to prepare for next pandemic and climate disaster. What a sh1t show..
@astralislux305
@astralislux305 17 күн бұрын
This guy's a Communist.
@beninay
@beninay 16 күн бұрын
Asking rich to pay their taxes is communism now?!
@reikicowgirl9817
@reikicowgirl9817 16 күн бұрын
That tired crap about “Buffett not paying his fair share” is absolute crap and red flags this guy as a socialist spouting talking points. How about abolishing the unconstitutional income tax? That’s how Buffett gets away with it…he takes no salaried income.
@Phila80
@Phila80 16 күн бұрын
I agree 100%. This professor is a moron.
@barrymadickiner
@barrymadickiner 16 күн бұрын
And he's gay
@StockGenius152
@StockGenius152 17 күн бұрын
Typical academic with little understanding of how the economy and markets work
@nopeunlimited
@nopeunlimited 17 күн бұрын
Oh God a climate change conspiracy theorist.
@martynwaters2358
@martynwaters2358 16 күн бұрын
Completely agree! Individuals like him (concerning climate) would benefit greatly, by giving a listen to: Dr. Richard Lindzin ( M I T) Dr. William Happer ( Princeton) CO2 is "the gas of life".
@edc1569
@edc1569 16 күн бұрын
Are most of David’s viewers science deniers?
@kevinford6420
@kevinford6420 16 күн бұрын
Also Lord Monckton blogs on KZbin will open your eyes.Climate change is a scam​@@martynwaters2358
@liamrmorgans921
@liamrmorgans921 16 күн бұрын
@@edc1569 how dare people question the “experts” you agree with, right? You know which experts are the correct ones so theres no need for further debate
@mfclevz8765
@mfclevz8765 16 күн бұрын
This guy goes around claiming anyone who questions a vaccine a anti-vaxer science denier for sure.
@highthereguys
@highthereguys 17 күн бұрын
These people are literally the problem.
@beninay
@beninay 16 күн бұрын
Why? Taxing the poor is ok and but rich not ok for you?
@highthereguys
@highthereguys 16 күн бұрын
@@beninay never said any of that. Have any more fallacy’s to present ?
@Sola_Scriptura_1.618
@Sola_Scriptura_1.618 17 күн бұрын
I stopped listening once I heard the guest say, "Higher taxation is part of the solution." So, I didn't get past the intro! 😅😅😅 No one puts their capital at risk when taxation robs you of your rightfully gotten gains. I don't care who you are. The more the Government taxes my productive capacity, the more I manage my productivity. Why would I work hard and pay high taxes when I can work less hard and pay less taxes? If I would, why would a rich person? We do not have a taxation problem, we have a spending problem. The way I accumulated my wealth over my life was to spend less than I earned and save my wealth for later consumption. Governments can tax 100% of wealth, and they would still run deficits. Put the government in charge of a desert, and they will run out of sand!
@gatedClock
@gatedClock 17 күн бұрын
I did better; I cut out after he started talking about emergency 'clean' energy spending.
@Sola_Scriptura_1.618
@Sola_Scriptura_1.618 17 күн бұрын
​​@gatedClock I didn't make it past the intro at the 17-sec mark! So, I do not know anything else this "Academic." had to say. Those who can, do! Those who can't, teach! This guest is the poster child for this truesim!
@Xrpurple
@Xrpurple 17 күн бұрын
Well, it is a big part of “their” solution.
@dialecticalmonist3405
@dialecticalmonist3405 17 күн бұрын
But fairness is CAREness!
@M3LTUP
@M3LTUP 16 күн бұрын
Same here. Thats when i wrote him off. Additional Taxation kills Economic growth.
@markkovachis2932
@markkovachis2932 17 күн бұрын
What this guy say… the opposite is true
@kevinford6420
@kevinford6420 16 күн бұрын
👍
@jimmykelly2809
@jimmykelly2809 17 күн бұрын
The problem isn’t taxes it’s spending.
@frankie2xx774
@frankie2xx774 17 күн бұрын
You’re right and then we the people have to pick up the bill because taxing the wealthy won’t put a dent in the deficit being lowered lmao 😂
@Carlos-im3hn
@Carlos-im3hn 17 күн бұрын
here here !! Bingo !
@tuckerbugeater
@tuckerbugeater 16 күн бұрын
The deficit won't ever be lowered they're just trying to Stave off hyperinflation
@kunghsu1
@kunghsu1 16 күн бұрын
It was "It's the government".
@user-pq5rb8ju4w
@user-pq5rb8ju4w 16 күн бұрын
Not when government is your god and spending is mana. You're not able to get into the head of your foe. You're surely going to be defeated.
@makeyourlifeeasier5794
@makeyourlifeeasier5794 17 күн бұрын
This man with his ideas is actually a college economic professor!! No wonder we're doomed...
@888strummer
@888strummer 17 күн бұрын
He's much more political science than economics since every answer defends the Biden administration; he can't even blame Biden and the politicians(including many republicans) for the irresponsible over spending. He only blames the Fed
@pauldarrigo4395
@pauldarrigo4395 17 күн бұрын
Well said.
@Phila80
@Phila80 16 күн бұрын
Agree 100%.
@conduit242
@conduit242 16 күн бұрын
Another entitled boomer. Tax the wealth creators, not the wealth holders. That’s his big idea. Boomers hold 53% of US wealth and they’re drawing social security 🤣
@verypleasantguy
@verypleasantguy 16 күн бұрын
They kept on telling us how horrible China is, how China's economy gonna collapse, every single day, for the past 10 years
@dptanner1234100
@dptanner1234100 17 күн бұрын
This guy is so detached from reality please don’t have him back on
@Carlos-im3hn
@Carlos-im3hn 17 күн бұрын
I disagree, I don't mind Barry, since I like to see how the other side thinks...he is clearly deluded by fiat finance, and so is everything now, and since 1913 fiat finance "system". Yes, Professor Steve Hanke or Yanis Varoufakis (Former Minister of Finance of Greece) would be great counterpoints.
@tuckerbugeater
@tuckerbugeater 16 күн бұрын
He knows exactly what's going on and he's selling you a narrative and you believe him LOL
@joelbabb4752
@joelbabb4752 16 күн бұрын
It is good to hear an ongoing status quo perspective even if it is dated.
@user-pq5rb8ju4w
@user-pq5rb8ju4w 16 күн бұрын
Friends close, ENEMIES CLOSER. Cal Berkley, what did you think you were going to hear?
@lclayton1330
@lclayton1330 16 күн бұрын
I thought I was the only person thinking this!
@NatiaMaisuradze-ey5iq
@NatiaMaisuradze-ey5iq 16 күн бұрын
I've noticed how patterns in financial markets tend to repeat themselves over time. Artur Grandi's book offers valuable insights into keeping investments steady and explores potential investment opportunities, including the crypto market.
@grantharding8868
@grantharding8868 17 күн бұрын
I don't believe this guys spin.
@user-pq5rb8ju4w
@user-pq5rb8ju4w 16 күн бұрын
Spin? He's a true believer!
@jimh5258
@jimh5258 17 күн бұрын
This guy is very disappointing
@grantharding8868
@grantharding8868 17 күн бұрын
Oh dear...Climate change. Now he's lost me. What a load of crap. The $34T will never be paid back. Not in this guys WEF view of the world. Who is this clown? You're a very patient interviewer, David
@Carlos-im3hn
@Carlos-im3hn 17 күн бұрын
Appears Barry is deeply MMT (without realizing he has been MMT "flipped" stuck in theory) in the hallways of UC Berkeley. Barry "is" modern fiat finance and political theory. This is why Berkeley is "mostly" politics and much less Austrian school. These factual high debts, high deficits, and high unfunded liabilities actually *do* cause economic collapses. Barry is exactly why we are now "stuck" at 5% rates with real inflation 20%. Too many "gaming" the system...like the Matrix movie games in the system.
@jimarger8533
@jimarger8533 16 күн бұрын
My thinking too. Also, like how does political polarization come into the equation to try to balance the books and live within a budget. Interesting to see how the other camp thinks when it claims to think.
@mickquinlan3
@mickquinlan3 17 күн бұрын
“The problem with socialism is that you eventually run out of other people's money.” ― Margaret Thatcher. This “professor” gets a F on the exam!
@Carlos-im3hn
@Carlos-im3hn 17 күн бұрын
ha! love it. "The vice of capitalism is that there is an unequal share of the blessings; the virtue of socialism is that there is an equal share of the misery." -- Sir Winston Churchill
@BrianWoodrowTN
@BrianWoodrowTN 17 күн бұрын
This guy thinks the economic shutdown was good, and that carbon dioxide is bad. What an embarrassment.
@gatedClock
@gatedClock 17 күн бұрын
we don't need CO2.
@saucyrossy3698
@saucyrossy3698 17 күн бұрын
Yeah....because liberals are children who live in fantasy land. They think men can menstruate for christ sake. But hey theyre the 'party of science' so....guess theyre the experts.
@Carlos-im3hn
@Carlos-im3hn 17 күн бұрын
Berkeley economists are generally less-than clear thinkers. Although a counterpoint is Peter Schiff was a Berkeley grad. Barry appears to be a modern ESG/MMT proponent lacking wisdom. I don't care how many books, classes, students or PhDs have "learned" from Barry or how many credentials. The Fed and US Treasury spending is out of control and MMT theorists have wrecked our US and world's future.
@JohnSmith-ms8nj
@JohnSmith-ms8nj 17 күн бұрын
wtf David
@dragonflydreamer7658
@dragonflydreamer7658 17 күн бұрын
This guy is the reason THREADS will happen
@bobboberson5755
@bobboberson5755 17 күн бұрын
Funny he seems worried Trump might do what Biden already did.
@frankpizzo8971
@frankpizzo8971 17 күн бұрын
Political Science at UC Berkeley. Hmmmmm🤔
@cl5619
@cl5619 17 күн бұрын
He’s a leftist commie
@gatedClock
@gatedClock 17 күн бұрын
he's not a Marxist, I guarantee it!
@frankie2xx774
@frankie2xx774 17 күн бұрын
Nahhh not at all lmao
@cl5619
@cl5619 17 күн бұрын
@@gatedClock he talks of raising taxes on the rich as means to make the raising taxes on middle class and poor more palatable. Meanwhile, Congress recently passed a 90 billion dollar foreign aid bill. This is infuriating!
@gatedClock
@gatedClock 17 күн бұрын
@@cl5619 a few years back i was worried that red china would take us over. but now i worry about the rot from within. c'mon voters....
@farzadshrazi9329
@farzadshrazi9329 17 күн бұрын
This guy is more than happy to spend all the money on bringing down the level of CO2 😂, wars , vaccines and lockdowns etc , may be if we close down the Berkeley and other universities, we can make some progress in controlling the debt and inflation
@frankie2xx774
@frankie2xx774 17 күн бұрын
And also getting rid of fossil fuels and bringing in more clean energy lmao ya this guy we know which way he’s leaning professor lmao 😂
@friarnewborg9213
@friarnewborg9213 17 күн бұрын
Evil guy, supporting misguided spending plans
@mstgelais
@mstgelais 17 күн бұрын
Well said
@JBurns253
@JBurns253 17 күн бұрын
I think this is the answer
@imjustalilbit
@imjustalilbit 16 күн бұрын
We live in an economy that is based on unlimited growth. We've peaked traditional methods which is why we are moving towards manufactured crisis and increasing oil consumption through EV's and carbon reduction. We are entering a disaster driven economy in order to continue economic growth
@grantharding8868
@grantharding8868 17 күн бұрын
Debt will balloon by 2030?!...its already too high. This guy is on some mind bending drugs.
@kayak9078
@kayak9078 16 күн бұрын
I watch all your interviews but I couldn’t even finish this one. This guy’s reasoning is exactly why this country is headed off a cliff. Unbelievable that he’s a professor.
@Darkskindiplo
@Darkskindiplo 16 күн бұрын
But he has so many books
@TheControlBlue
@TheControlBlue 15 күн бұрын
Academia has been subverted during the Boomers era.
@Will_0001
@Will_0001 15 күн бұрын
Most academics believe the nonsense he's spouting.
@mikesim8480
@mikesim8480 17 күн бұрын
Unfortunately it is not a serious conversation when someone regurgitates political talking points such as Warren Buffet paying lower taxes than his secretary. Many academics and intellectuals are sadly unimpressive in person.
@christopherbobin4268
@christopherbobin4268 16 күн бұрын
If you want a poster child for everything wrong with government policy, here he is.
@runswithtrees6173
@runswithtrees6173 17 күн бұрын
Yeah Janet Yellen has a great sense of humor like when she said “inflation is transitory” over and over again 🙄🙄
@Carlos-im3hn
@Carlos-im3hn 17 күн бұрын
Yellen must have tossed Barry at some point...Berkeley grows so many mushroom thinkers. Yes, great for Silicon Valley and fiat finance...but sorely lacking Austrian credentials or philosophy. The Fed and US Treasury are heading for another massive global reset similar to what has always happened to fiat financed economomies. See recent Zimbabwe or Germany Wiemar Republic 1923.
@user-pq5rb8ju4w
@user-pq5rb8ju4w 16 күн бұрын
Well, she IS a walking joke after all...
@stevewoitas7217
@stevewoitas7217 16 күн бұрын
How about, "the outlook for the economy is strong" Oct 2007.
@_jazzypants7321
@_jazzypants7321 16 күн бұрын
"We will never have another financial crisis" - Yellen
@IcyCreamyDreamy
@IcyCreamyDreamy 16 күн бұрын
She has a "great sense of humor."
@viewerone
@viewerone 17 күн бұрын
This dude sounds dangerous.
@Carlos-im3hn
@Carlos-im3hn 17 күн бұрын
Yes. Berkeley Barry is why we are not up the creek without a paddle. It would be great to see him take an Austrian Econ 101 class and see if he could fathom his own corruption.
@garymcmillan6943
@garymcmillan6943 17 күн бұрын
LeftyNomics professor.
@gzsg1
@gzsg1 17 күн бұрын
He is stuck in the past. This is nothing like the past. Interest on our national debt will be $1.7 trillion by this December.
@Carlos-im3hn
@Carlos-im3hn 17 күн бұрын
"Oh no, no we won't give in Let's go living in the past" -- Jethro Tull
@M3LTUP
@M3LTUP 17 күн бұрын
A 45% CGT means nobody will ever sell Assets. Taxing unrealized Gains means all the Millionaires and Billionaires will sell off U.S. Assets and leave the U.S. Places like UAE , Singapore , KL , HK will become the new World Financial Superpowers. The only real "solution" is to cut Govt. spending.
@user-xw3vi4nk2y
@user-xw3vi4nk2y 17 күн бұрын
That is happening regardless. 0% is still better than 25%.
@garymcmillan6943
@garymcmillan6943 17 күн бұрын
Blasphemy!!! Cut Government Spending?!?!?! ARE YOU CRAZY?!?! What politician is ever going to cut spending. Ain't nobody voting for that...
@kunghsu1
@kunghsu1 16 күн бұрын
45% may be too high, but 35% may not be bad idea. Those wealthy guys leaving U.S. may be good for U.S. The countries you talked about have no political foundation to be long term success. Also, their assets will be taxed if they give up U.S. citizenship. An wealthy U.S. citizen making a fortune in U.S. and don't want give back even a little to help, should just let them leave.
@M3LTUP
@M3LTUP 16 күн бұрын
@@kunghsu1 Nobody sells because the CGT is already too high. Raise % more and those Assets will be locked forever. Better idea would be to reduce CGT to 5-10% so more people will sell Assets often.
@dazedhavoc
@dazedhavoc 16 күн бұрын
How are these Ph.D.s in economics so detached from reality
@datboi449
@datboi449 17 күн бұрын
I'd say he has a lot of misplaced trust in the Government.
@grantharding8868
@grantharding8868 17 күн бұрын
Anti inflation mandate has failed miserably
@cdog0331
@cdog0331 17 күн бұрын
Your guests are normally always awesome. This guy sucks.
@Carlos-im3hn
@Carlos-im3hn 17 күн бұрын
Yes. Barry only has "recipes" for disaster. Berkeley Barry need to go back to Austrian school for 5 years.
@gatedClock
@gatedClock 17 күн бұрын
it's ok, good to know how/what the lefties think. er, 'think'.
@PatSpackman
@PatSpackman 17 күн бұрын
I agree, please don't have him back. Ever!!!!!
@Darkskindiplo
@Darkskindiplo 16 күн бұрын
I’ve Never seen so much consensus on a KZbin video 😂
@culturepreneur
@culturepreneur 16 күн бұрын
​@Darkskindiplo everyone hates this guy 😂😂😂
@toutlesag
@toutlesag 16 күн бұрын
In Barry, it’s so nice to have a Northern-California stereotypically “liberal”/“democracy” guy come back for a visit from the 1990’s past …
@user-pq5rb8ju4w
@user-pq5rb8ju4w 16 күн бұрын
90's...WTF? This is pure 60's. 90's set the US up to run a SURPLUS.
@FreemonSandlewould
@FreemonSandlewould 17 күн бұрын
Oh great so raise taxes because higher income earners because "it feels good". Professor at Berkeley. Oook I'm skipping this one.
@Namegoeshere-op9hg
@Namegoeshere-op9hg 17 күн бұрын
“There is no reason to give people social security simply because they are lawfully entitled to what they paid for.” This sentiment from what should be a respectable professor is merely emotional drivel and meaningless in terms of economic impact. In short, this is a political hack masquerading as an academic, but I suppose that is true of most economists. But I must say this is incredibly sad and obvious and pitiable that anyone would make such a fool of themselves like Prof here.
@mfclevz8765
@mfclevz8765 16 күн бұрын
I would be ok with them ending social security. If you are 35 and younger, what you paid in is gone but you pay no more. Everyone else that doesnt have the time to save we try to take care of to the extent we can. I would take it in a heartbeat. In the end anyone 35 or below will never see their money anyways, what makes the older generation more entitled?
@jackwilliamson1929
@jackwilliamson1929 17 күн бұрын
If you're not wealthy but you finally make some money and then you have to give half back is total bullshit
@jimbobjim2310
@jimbobjim2310 17 күн бұрын
Yes. I was homeless in 2008 and just paid $50k to the IRS and State 2 weeks ago. It is what it is, my $$ is needed for Ukraine!!
@JBurns253
@JBurns253 17 күн бұрын
Totally agree. Sorry 400k and 1 million just aren’t what they use to be. A bunch of clowns
@tbone5654
@tbone5654 16 күн бұрын
Lot more than 1/2. Remember, the CGT rate is much lower than income rates because 1/2 the capital gain is actually just a reflection of inflation.
@mfclevz8765
@mfclevz8765 16 күн бұрын
Millionaire used to mean something, now it’s the bare minimum to be able to live comfortably.
@drock430
@drock430 17 күн бұрын
What a clown
@eaglewing1415
@eaglewing1415 17 күн бұрын
Any economist who believes in climate change policies should retire. His allegiance is not to economic disaster prevention but to a scientific theory that is wrong. Continuing debt creation by excessive govt spending is a bankruptcy pill.
@ace9840
@ace9840 16 күн бұрын
Agree, Same with any so-called economists who got the 2008 subprime collapse wrong. It was as obvious as the dollar continuously losing purchasing power.
@Cj2o
@Cj2o 16 күн бұрын
Modern climate catastrophism isn't scientific theory, it's political theory supported by pseudo/junk science.
@4ninefine199
@4ninefine199 17 күн бұрын
Wow... Talk about reaching over the fence. Impressive Spectrum of guests you bring on. Nice work David.
@gatedClock
@gatedClock 17 күн бұрын
true, no shade on the interviewer. respect.
@craigenputtock
@craigenputtock 17 күн бұрын
So he thinks the Fed has prioritized inflation control? Which planet has he been living on?
@crunchfishgames8245
@crunchfishgames8245 17 күн бұрын
Does this guy not know that Janet Yellen worked for the FED then as the Treasury secretary? He keeps saying independent central banks.
@phil.s2245
@phil.s2245 16 күн бұрын
Its interesting to see someone who is actually part of the problem.
@erinsweet8147
@erinsweet8147 17 күн бұрын
What is this dude smoking? We don’t have a debt problem, tax the rich, and the govt needs to balance the budget. This guy is dreaming!!
@weelee4476
@weelee4476 16 күн бұрын
He sounds more like a cheerleader than an economist. Maybe he should teach in Disneyland where there is unicorn and everything he likes to fantasize about.
@_m_K_.
@_m_K_. 16 күн бұрын
😂 Pin this comment. The people running the show really believe the nonsense they say. This man is intellectually dishonest to talk about crap hitting the fan 20 or 30 years from now, when rate of debt increase shows in 10 years if not less, it will hit the fan. The only thing relevant he said was to cite Argentina instead of the US defaulting on loans. He knows what the deal is, he just got all the talking points down.
@bobsondugnutt7526
@bobsondugnutt7526 17 күн бұрын
It's important to hear the best possible dissenting arguments thank you for this one
@KoDeMondo
@KoDeMondo 16 күн бұрын
You don't need an Oxford degree to understand that if you mindlessly give away money for years, encouraging people to go into debt, and then suddenly do the exact opposite, the country will go into disarray. But strange to say according Barry "there is nothing to see here, all is under control" 🤣🤣🤣
@ALANGREENSPAN420
@ALANGREENSPAN420 17 күн бұрын
🚨BANK🚨RUN🚨SEASON🚨
@adamson760
@adamson760 16 күн бұрын
“It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning.” ― Henry Ford
@mstgelais
@mstgelais 17 күн бұрын
What kind of guest do you have David. One from the WEF?
@camronrubin8599
@camronrubin8599 17 күн бұрын
If were going up 1 trillion every hundred days then were going to hit a 200% debt to gdp around 2030. Its math.
@lewispaine4589
@lewispaine4589 17 күн бұрын
He thinks changing the tax code will fix the US debt/deficit problem,give yer head a shake man.
@bobsondugnutt7526
@bobsondugnutt7526 17 күн бұрын
it's an austerity measure, not popular but works
@ace9840
@ace9840 16 күн бұрын
It's not going bankrupt it is bankrupt and has been for years.
@MarkhallPete
@MarkhallPete 17 күн бұрын
I’m not an economist but I could never understand when folks say from 2000 to 2008 there was no inflation when the price of everything in many cases doubled over that time period. Or perhaps inflation has a different definition.
@Carlos-im3hn
@Carlos-im3hn 17 күн бұрын
Nearly continuously there has been inflation since 1913, in this modern economy.
@JBurns253
@JBurns253 17 күн бұрын
It’s like our media constantly tries to reframe history in a light it actually wasn’t . I wonder why
@mfclevz8765
@mfclevz8765 16 күн бұрын
He is just feeding people BS. He claims no inflation 2008 to 2020. Price of a truck doubled in that time. Even if it was only 2% inflation a year target, at a minimum everything is 25% more expensive even at their target. He thinks we are fools.
@dragonflydreamer7658
@dragonflydreamer7658 17 күн бұрын
This ding dong is the reason THREADS WILL HAPPEN
@BlainsTube
@BlainsTube 17 күн бұрын
"Is The U.S. Going Bankrupt?" The question reminds me of "The Sixth Sense", when Bruce Willis' character realizes he's actually dead. 😜
@lopat4826
@lopat4826 17 күн бұрын
he are crazy with that high tax ,
@kakusei3672
@kakusei3672 17 күн бұрын
Talk about how he feels about newsom
@stiffdrinkfinance1981
@stiffdrinkfinance1981 17 күн бұрын
I have a brilliant tax revenue idea for uncle sam: 100% tax on federal reserve for every currency unit it creates
@Carlos-im3hn
@Carlos-im3hn 17 күн бұрын
result would-be immediate reset and end game in 1-day.
@olaf_the_librarian
@olaf_the_librarian 16 күн бұрын
Hi David, scrolling through the other comments, I just wanted to add a voice in support of your choice in guests! Even though your typical audience would obviously mostly disagree (myself included), it's important to learn about the"other side", and I still found it somewhat educational, as you - as usual - made some good questions.
@BillySeiling
@BillySeiling 16 күн бұрын
The biggest government shill you’ve had on your show so far David.
@nicholasmendezdelvalle8770
@nicholasmendezdelvalle8770 17 күн бұрын
How on earth can the government owe something to itself? That sounds ridiculous on its face. Also, between a society where the public is laden with debt and another one where the average person owns 10oz of gold as savings with little to no debt I would say the latter would be more prosperous
@alvincollins1056
@alvincollins1056 17 күн бұрын
Ok but our country is seeking record low bond buying right now.. all central banks are buying record amounts of gold this has been going on for 5 years now.. this guy is way to optimistic.. but he did say if other countries don't buy our debt/bonds we see huge hyper inflation..... wake up people its happening in front of our eyes it always starts out small then all at once... protect yourself invest in physical commodities.
@harryholiday5356
@harryholiday5356 15 күн бұрын
The great Dick Cheney said that deficits really don't matter, and he is correct. Not a problem.
@user-lr5po4pl6s
@user-lr5po4pl6s 17 күн бұрын
For us- high taxes determine where we choose to live and where we will eventually retire. High taxes are a huge turn-off for both individuals and businesses.
@_-Wade-_
@_-Wade-_ 16 күн бұрын
Failing 5th grade math and assuming politicians are rational...
@maddurak
@maddurak 16 күн бұрын
Never seen an economist who loved and trusted his government this much…
@tttuu3309
@tttuu3309 16 күн бұрын
Imagine taking loan for wars that most Americans didn’t approve but you want them to participate in paying this is crazy
@markzinn2274
@markzinn2274 16 күн бұрын
After the first minute, I already know this guy’s judgement is so clouded that I can go to another video.
@stevenmix3723
@stevenmix3723 16 күн бұрын
So his good news is that the cliff we are accelerating toward is still another quarter mile away. Plenty of time to stop speeding up.
@petermanuel5043
@petermanuel5043 16 күн бұрын
It's interesting to hear how some people think. Even if you don't agree with it it's important to learn why and have a counter.
@christianjohnson3205
@christianjohnson3205 16 күн бұрын
This is about what I would expect from UC Berkeley at this point.
@BA-lt2tx
@BA-lt2tx 17 күн бұрын
Inflation has been over the Fed's target inflation rate for over 3 years. So much for its "independence" and "bringing inflation under control".
@TheGoreforce
@TheGoreforce 17 күн бұрын
this guy has every reason to steal from someone else, but doesn't think about himself.
@YaseminEmine
@YaseminEmine 16 күн бұрын
Thanks for the update, what are your thoughts on AWMKPX?
@charlesg7937
@charlesg7937 16 күн бұрын
Higher taxes never help; here is proof that you can be smart and ignorant at the same time.
@wangjim5839
@wangjim5839 16 күн бұрын
Yellen, as the State Treasury, allowed the debt situation to grow out of control is very irresponsible! But instead, she travelled the world to badmouth China about overcapacity and selling too cheaply when inflation at home is getting worse!
@whdndrn
@whdndrn 17 күн бұрын
What does difficulty servicing the interest mean for USA? What level.
@grantharding8868
@grantharding8868 17 күн бұрын
The cooperation Yellen is seeking has failed miserably
@dazedhavoc
@dazedhavoc 16 күн бұрын
It makes sense that we are in such a bad state of affairs monetary policy. When people say “how is the FED so stupid? Doesn’t the FED have 400 Ph.D.s?” Well, if they are trained by people like this guy, now I get it.
@scotthanson4449
@scotthanson4449 16 күн бұрын
Excellent interview. You were well prepared and asked great questions.
@TM-173
@TM-173 16 күн бұрын
This guy works for them- hanging out with Ol Yeller and thinking that the rich will put up with a massive tax and stick around. The solution is simple: stop spending, close the border.
@imjustalilbit
@imjustalilbit 16 күн бұрын
We live in an economy that is based on unlimited growth. We've peaked traditional methods of growth, which is why we are moving towards manufactured crisis, (wars), and increasing oil consumption through EV's and carbon reduction, (green deal). We are entering a disaster driven economy in order to continue economic growth. Thats not good, but thats the direction the corporations have chosen to steer the government.
@rickmantwill8356
@rickmantwill8356 16 күн бұрын
Like to see this guy debate, Professor Hanke Would’ve liked to see you ask him, if we can get by without a federal reserve
@anthonykarakas6391
@anthonykarakas6391 16 күн бұрын
Prof Eichengreen epitomizes perfectly why academians should not be in charge of anything regarding public and fiscal policy.
@paulrobertson6262
@paulrobertson6262 16 күн бұрын
Guys like this are why we're in the shape we are. How he is so oblivious boggles the mind
@SingtoYouTube
@SingtoYouTube 16 күн бұрын
Am basically staying watching to see what is the next question by David. The answer really doesn’t matter anymore
@Four_Eyes
@Four_Eyes 16 күн бұрын
Devil in sheep's clothing.
@ALANGREENSPAN420
@ALANGREENSPAN420 17 күн бұрын
🚨GREENSPAN = SATOSHI🚨
@ZaferMuhlis
@ZaferMuhlis 16 күн бұрын
Not the best year but celebrating AWMKPX now! What a time to be alive guys, seriously
@albertlau11235
@albertlau11235 15 күн бұрын
15:55 He just saw the chart shown near the beginning, showing the increasing debt/GDP ratio over the years. How can he reference the debt-to-GDP ratio to say that the government is 'doing a pretty good job growing that denominator......' ???
@RonaldWarman-gr9kk
@RonaldWarman-gr9kk 16 күн бұрын
Most intelligent millionaires know how to avoid taxes or funnel offshore, so this will not impact anything.
@Will_0001
@Will_0001 15 күн бұрын
It would send even more money offshore and freeze up US markets.
@MustafaCemile
@MustafaCemile 16 күн бұрын
Can anyone explain AWMKPX? I am curious and wanna know
@ALANGREENSPAN420
@ALANGREENSPAN420 17 күн бұрын
🚨SILENT🚨DEPRESSION🚨
@bruceposch1449
@bruceposch1449 16 күн бұрын
1969 phoned...they said to send Barry back. They apologized if he did any damage.
@AysegulOzlem-ms8bk
@AysegulOzlem-ms8bk 16 күн бұрын
Riding the AWMKPX train feels so good, they really know how to make promises count and bring them to reality
@edenrr390
@edenrr390 16 күн бұрын
Hola David, Thanks for posting. Have you read Henry Kissinger's book "On China?" Cheers, SV Good Karma as Grins.
@vyzion
@vyzion 16 күн бұрын
I enjoyed this chat. Thanks to both!
@ibrahimOmer-hs9lb
@ibrahimOmer-hs9lb 16 күн бұрын
When it comes to scalability and future-proof concepts nothing is as outstanding as the AWMKPX project, these guys know the drill
@juancarlosmeneses3774
@juancarlosmeneses3774 16 күн бұрын
Excellent interview! Really enjoy your content....
@Benji_The_Ghoul
@Benji_The_Ghoul 17 күн бұрын
Government spending did cause inflation between 2008 and 2020, it was in the housing market and stock market.
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