The Economy Has Been Window Dressed And We're Starting To See The Cracks | Carol Roth

Carol Roth, a “recovering” investment banker, financial television commentator, entrepreneur, and two-time New York Times best-selling author, joins Julia La Roche again for episode 169 to discuss the state of the economy, the Federal Reserve, the impact of deficit spending, and the challenges faced by small businesses.
Links:
You Will Own Nothing: www.carolroth.com/nothing/
Follow Carol Roth on Twitter: / caroljsroth
Timestamps:
0:00 Intro and welcome Carol Roth
1:15 Macro picture, assessment of the economy
2:30 Massive inflation in assets
3:20 Economy has been “window dressed”
5:40 Deficit-driven economy
8:30 Fiscal dominance
10:45 Stagflation
15:00 The Fed
17:00 Debt
20:00 Gold
24:00 State of small business today
#economy #investing #gold

[@TheJuliaLaRocheShow]

Hey everyone! I'm so happy to bring Carol Roth back on the pod for her third appearance. Please join me in the comments section. Thank you so much for your kind words and support. 💙Julia

[@mjbucar]

Window dressing of the U.S. economy is absolutely spot on - until after the presidential election. And then, look out!

[@auaggoldbug4151]

2 easy on my eyes, money honey's!!

[@2Sense721]

Sound volumes very balanced. Thank you. Good podcast!

[@jeffkgraff]

"a large part of the population is financially illiterate" hit that nail right on the head.

[@randywhelchel4674]

LOVE HER!!!!!! Never miss any of her thoughts ❤❤❤❤❤❤

[@jhull5870]

First time I have listened to Carol. She makes some great points and observations. The present FED rate has not been restrictive and I believe if they really wanted to get to their 2% target they should have raised rates months ago. It is interesting to hear Powell push the narrative that things are fine. For him and the FED it is now about perception.

[@pauljcross2289]

I bet Powell knows more about economics than you do

[@Youknowwhatscoming]

Wow more truer words were never spoken ❤️. Awesome podcast. We need more of her such intelligent folks who know that you cannot print your way to prosperity forever. It’s time to pay the piper. This music went on for more than 15+ years

[@bradjohnson233]

Had not come across Ms. Roth before but a very inciteful interview. Keep em' coming.

[@christianjohnson3205]

As a small business owner/builder the governmental red tape is out of hand. I’m constantly learning new laws and regulations that affect me. The red tape is adding legal fees, accounting fees and so on which make it extremely hard

[@SweetNeoCon407]

I'm old enough to remember the Jimmy Carter days and the stagflation of the late 70's.

[@alphaomega1351]

I just got word he's planning to run against Biden for the democratic nomination!!! 😲

[@slowridefpv9668]

It’d be a tight race, debate would be amazing! 2 really skilled politicians going at it at the top of their game! lol.

[@Jack-xc2ys]

If there isn't a plan to pay the interest before it's issued it's reverse fraud or something. Not having a plan to pay the debt before it was issued certainly is.

[@PCGamer77]

A few minutes ago, I thought to myself: "I wonder if Julia La Roche has interviewed Carol Roth?" Julia, you can do magic things! 😃

[@TheJuliaLaRocheShow]

She's the BEST! And she was on set with me the first time I did live TV back in 2014. I'm a huge Carol Roth fan.

[@thane816]

I own Roth's book "You Will Own Nothing."😀

[@BrookhillAngus]

And....this is how wealth transfer works. The 1% couldn't be more pleased with how things are unfolding.

[@jorge1170xyz]

It really is the natural evolution of things. Just as gravity causes galactic dust to coalesce into just a few rocky and gaseous bodies over time, money will constantly consolidate into fewer and fewer hands over time as well. In many ways, it's just math. A large middle class is a historical anomaly and to maintain for more than a few decades requires constant education and vigilance. We have had neither for a long time. As if there were any doubt before, Covid officially kicked off the bread and circuses stage of the US. As certain as I am that Trump will win in November, he won't do a single thing that could make him look bad, so we have basically nothing good to look forward to as a nation... unless you are very well positioned with hard assets (that you accumulated a long time ago).

[@michaelstock9351]

Another wonderful interview

[@lesleyjohnson8488]

You guys have amazing chemistry. She is amazing. Thank you for this wonderful, sensible, practical conversation ❤

[@taratong9074]

We have a small business and we have struggled with the LLC stuff! We understand your concern!

[@deacondoings]

Love the Hair! Love the dialouge !!

[@hankhouseman762]

Very logical. I like her!

[@user-ru5kp8gf7p]

Intensifying Conflict between the U.S. and China 　　The announcement by the U.S. on May 14 of a "substantial increase in tariffs on imports from China" symbolizes the "intensifying confrontation between the U.S. and China," while Russian President Vladimir Putin's visit to China seems to be one of the events that represent the "intensifying Cold War structure between East and West. In other words, the current "global turmoil" can be described as an extremely wide-ranging conflict, including military and financial conflicts, and many people have a great sense of anxiety about "what kind of era awaits us in the future? In other words, the current "global turmoil" is a situation in which many people are feeling a great deal of anxiety about "what kind of era awaits us in the future? 　　In other words, we have lost sight of the whole picture of history, but for myself, on the contrary, I believe that we can now see, to some extent, what kind of society will take shape in the future, thanks to Spengler's "The Fall of the West" and Murayama's "Historiography of the Law of Civilization. I believe that, to some extent, we have begun to see what kind of society will take shape in the future. In other words, we can understand how the current global financial turmoil will end when we look directly at the problem of excessive national debt, starting with Japan. 　　Specifically, as the "money theory" teaches, "the possibility of national debt being written down through fiscal finance" is increasing, and we need to be prepared for "a rapid decline in not only debt but also assets" in the future. In other words, we are aware of the "possibility of the end of the Western era of wealth that has continued for 800 years" due to the collapse of the "monetary system that should be called the credit standard," which began with the "Nixon Shock of 1971. 　　And based on these assumptions, "What was China like 1,600 years ago?" we can understand that "424 A.D." was the "period of the Wu Hu 16 Kingdoms," followed by "the development of the period of the Northern and Southern Dynasties, which began in 439 A.D.". In other words, we can see that in the West, "the Western Roman Empire collapsed" and in the East, "small countries were in conflict with each other. Therefore, what is necessary at this point is to prepare for the complete collapse of "derivatives," the "weapons of mass destruction in the financial world," which have yet to surface, and, in fact, to hold "precious metals, resource stocks, and food" to weather the period of turmoil against the "occurrence of a global financial catastrophe on an unprecedented scale. He believes that the key to surviving the turmoil is to "hold precious metals, resource stocks, and food" and ride it out safely. In other words, we should wait for "the evolution of social science, which is still in the third dimension," while looking forward to "natural science, which has evolved to the 11th dimension." I feel that "the study of Buddhism developed in China 1,600 years ago and the construction of many temples" will be helpful at this time.

[@mauriciocruz3225]

Tennessee

[@davidcpugh8743]

While Ms Roth emotes a bit, the underlying validity of her analytics is most well on track.

[@thehungergames8918]

🌹🌹

[@Weetorp]

Its not fiscal dominance. The interest expense is NOT causing the deficit, its the CHIPS and IRA stimulus.

[@weirdshibainu]

Yet another small lumber mill in Oregon was shut down by regulation...oh and the conversation to ban all gas appliances is starting. But that's ok....our electric rates have risen an average of 15% a year for the last 2 years and another one pending of 16% for 2025, because we have to fund "green energy" projects.

[@lancemairs4956]

Roll

[@neilweston7605]

1.7 trillion in 6 months is mores like it.

[@MK-ft3qt]

The more I hear how the economy is going to crash, the less I believe it.

[@cogito2883]

For all the people wondering about high fiscal deficits leading to issues! Why isn't Japan seeing a similar issue? Julia, I hope if possible you push these doomers on why Japan's financial system hasn't broken down?

[@cogito2883]

Also isnt the biggest buyers of US debt banks which use it as collateral? if it was really that bad and no one wanted to buy it, I mean 30 year is at 4.6%

[@PCGamer77]

The Yen is cheap, so Japan can expect foreigners to buy their debt. The US dollar is (relatively) strong and foreigners are rapidly losing interest in buying US debt.

[@cogito2883]

@@PCGamer77 so you are saying the Yen has lost its value so people want to buy more but the dollar is holding its value so they don't want to buy it?

[@PCGamer77]

@@cogito2883 Assets are priced in currency. The Yen is cheap. That means Japanese assets are cheap. That means Japanese bonds are cheap. That means people around the world will want to buy them. That means Japan can issue more bonds to finance their debt. The USA is in the opposite position.

[@jorge1170xyz]

The Yen did go from 110/dollar to 156/dollar... that's a pretty nasty consequence in my book.

[@jasona5806]

Big hair don’t care.. At least that’s what they say..

[@johnboy6594]

Love Carols skin and hair. She just glows.

[@JosephWetten]

The economy is literally smoking hot and busy. My neighbor just came into my garage and offered me job at the fire department here paying big bucks even though i clearly own my own company and am scheduled out 45 days before i can get to any new clients. The roads are packed the breakfast joints are slammed the bars are hopping. The stores have people with food packed to the brim.

[@prolific1518]

Cool made up story buddy

[@Jujubean9795]

I have the same observations. If the economy is suffering, people must be doing it in silence because all I see are folks having a good time. Plane tickets are sky high and flights are full. Restaurants, shopping malls, Department stores, etc are full to the brim. People are not cutting back.

[@JosephWetten]

@@prolific1518 Your cool too thanks

[@threemonkeys5441]

Look at the New York fed report on credit card debt and delinquency. That’s how everyone is spending

[@thomasallen1951]

Busy in SC because everyone is moving here!!! Giving the middle finger to our crumbling cities

[@adriansherman3290]

Why on earth would you want to go LLC when it's only for your YT channel? IMO the only point of going LLC is when you borrow money and it protects you personally if you can't pay it back. The company goes bust, not you. I'm presuming you've not borrowed any money to run a YT channel? I think a lot of folks like to be an LLC as a weird status thing. Bottom line, if you haven't borrowed money, be a sole trader.

[@TheJuliaLaRocheShow]

What about other protections if I want to grow it into a media business? Just curious.

[@PCGamer77]

There are tax benefits to being LLC. I don't know the details.

[@adriansherman3290]

@@TheJuliaLaRocheShow I'd cross that bridge if/when you come to it. If you borrow money to grow it or are worried about getting sued, LLC may be useful. As long as you do simple accounts, you'll be able to show the profitability of your channel to any prospective buyer. Though at the moment you are the product/asset, so unless/until you leverage your 'brand', paying accountants and messing around with bureaucracy seems a waste, IMO.

[@adriansherman3290]

@@PCGamer77 If US is like UK, you can take your salary in the form of a dividend from a LLC, which is generally tax efficient.

[@fl0ridaman123]

buy bitcoin 🚀🚀🚀🚀

[@Adam-ey3ud]

Interesting? Allegedly Important? No GG? Easily

[@alshaw9420]

holy shit h=ere we go again wow crack comingfools years and years and years of stocks going up but shit wait crack coming