The Fed Can't Solve The Problems We're Facing | Chris Brightman

[@Wealthion]

Lock in the 'Last Chance To Save' price discount for Wealthion's online conference on March 18, 2023 at wealthion.com/conference

[@jordankimball2104]

If you need someone to teach you mathematics let me know. On my free time I’m trying to figure out how to unify Einstein with a GU theory that defines spinors that don’t need a metric.

[@miawhitlock9140]

Inflation can have a significant impact on individuals and their cost of living. As a result, it can cause negative market sentiment. It is important for individuals and businesses to find ways to navigate and potentially mitigate the effects of inflation on their finances. The current economic climate, including underperformance of financial markets due to fear of inflation, has led to a decrease in the value of my portfolio. I would appreciate any recommendations on how to potentially increase returns during this market downturn.

[@mesutserim1595]

@@chrisbluebird5037 Such market uncertainties are the reason I don’t base my market judgements and decisions on rumours and here-says, got the best of me 2020 and had me holding worthless position in the market, I had to revamp my entire portfolio through the aid of an advisor, before I started seeing any significant results happens in my portfolio, been using the same advisor and I’ve scaled up 750k within 2 years, whether a bullish or down market, both makes for good profit, it all depends on where you’re looking.

[@miawhitlock9140]

@@mesutserim1595 that's impressive!, I could really use the expertise of this advisors , my portfolio has been down bad....who’s the person guiding you?

[@mesutserim1595]

The advisor I use is Wendy Helene Bennett, she's verifiable , so you could just search her.

[@CarolineSpeak]

Inflation is far more harmful to individuals than a collapsing stock or property market because it directly affects people's cost of living, which they immediately feel. It is not surprising that the current market sentiment is extremely pessimistic. In today's economy, assistance is critical if we are to survive.

[@conradwyatt]

In this moment, when you can use a capable portfolio advisor to passively learn about and experience a fully varied market, it has never been easier to understand how to increase your money. The implications of a rising or declining dollar on assets, in my opinion, are difficult.

[@JennyLawHere]

@@conradwyatt If you lack market knowledge, your best bet is to seek advice or support from a consultant or investing coach. Contacting a consultant may sound simple, but it's how I've managed to stay afloat in the market and increase my portfolio to roughly 65% since January. It is, in my opinion, the best way to get started in the industry right now.

[@sheliaswelttk2535]

@@JennyLawHere Where may one locate an experienced FA? I like the notion of employing their services, but it's terrible that recent stock market tragedies have started to happen more frequently.

[@JennyLawHere]

@@sheliaswelttk2535 I encountered Juliet Eve Downey through a CNBC interview, and I emailed her. She is guiding me. Since then, she has given me chances to buy and sell the stocks in which I'm interested. You can hunt her up online if you require care supervision.

[@sheliaswelttk2535]

@@JennyLawHere Insightful... I was curious after reading what you shared, so I Googled her name. I came across her webpage.

[@jefflaporte2598]

Higher taxes fixes nothing. We definitely do not need more taxes especially in the form of a VAT. How about all pork is removed from the budgets until we have a balanced budget and if that happens then pork can be added but only as long as the budget is still balanced. Defense spending should be used for the defense of this country, not the rest of the world. Cut our defense budget by 50%. We have nukes. No one is going to invade the US. Not with nukes and the most heavily armed citizenry on the planet. Cut government employees by 50%. Whenever we do have a shut down, no one notices or cares if they dont work for fedgov. Just a waste of tax dollars for most of these people. The rest of the worlds governments run just fine on a fraction of the size of our government. Do we reallyt need 16 spy agencies? 20,000 secret service personnel to protect 1 president? Stop with foreign aid. How many billions a year do we need to send out to other countries? Stop with the state department backdoor immigration policy under the guise of a refugee program. Refugees go home at the end of the crisis. Get rid of the federal reserve. It's unconstitutional and congress has no authority to delegate the powers that were delegated to it in the constitution. Congress has the power to coin money and regulate the value. No need to borrow money at all when congress can just print it. 100 years ago when gold and silver were still money, congress just couldn't print a trillion out of thin air. They had to borrow to fund wars (The only time under the constitution that borrowing is allowed by fed gov). Nowadays we no longer need to borrow money as we no longer use money in our day to day lives. We use currency or fiat currency which has replaced gold and silver . Get rid of fractional reserve banking. Take the hit to all assets and go back to a cash basis economy. Lending should be done with real risk attached. Depositors should be paid a fair return on their savings as an incentive to save. That savings can be lent to credit worthy individuals who have a high probability of paying back the loan. 100 years ago a home loan was 5 years. today it's 30. Nothing more than enslavement of the entire population. No debt= freedom. Thats just a start. Give me a month with the federal budget and I could reduce spending by a huge amount.

[@danielchavez70]

He compared 5% today to 5% in 1982 money when he bought a house. Then he said we have to put it context, 5% isn't a lot? No it's not a lot when your house is under 100k in 1982.

[@ivananastasov4180]

Chris made a good point about the shrinkage of the labor force. Let's think about that. Millennials and Gen Zs often cannot afford to have more children because of the high cost of living. We need a complete change of the business model we have today.

[@arachosia]

Or just allow for more immigration

[@ricardokowalski1579]

The FED can't solve the problem, but they could help a lot by not making it worse.

[@tryolegend]

😂🤣 they wouldn’t have the need to exist then… their existence is to make sure the problem doesn’t go away 😂

[@mlangbert]

The Fed created the problem, and yes, they can do even more harm.

[@darwinjina]

The longer that high inflation persists than the more damage that occurs to people and companies. (Especially for those that cannot keep raising wages / rates)

[@davecalico3273]

Trump under indictment- 🤣🤣🤣🤣 what rock did this guy crawl out from under

[@briannave7326]

That’s what I thought.

[@fhowland]

As soon as he said xenophobic in his opening monologue you know where he was coming from

[@mattanderson6672]

Brilliant interview!! Thank you for having Chris on

[@abfranklin8492]

Why does the world need a lender of last resort? Especially corrupt ones?

[@ask_why000]

Great question. And the world doesn't. Economics existed before central banks.

[@rogerhorner7431]

Maybe read the book 1907 Chris mentioned...me too. I feel Chis offered the most grounded (being real about debt, need for value added tax etc) assessment of the current financial / political situation that we find ourselves in today and that we can anticipate for the coming years, ie. generally rising costs, labour pressures and future external / climate shocks and equity responsibilities...all of which we will need to respond to in a way that maintains some degree of economic and social stability. If we go to extremes or chaos more people will be hurt. I believe that is true.

[@MichaelHarrington17]

We need to make a distinction between credit crises and economic/business cycles. The Fed is the lender of last resort because human behavior and imprudent financial risks can lead to credit freezes, which then can have significant real economic consequences. But economic imbalances in the real economy is not a credit or financial crisis. As Chris argues, what we have are economic imbalances both domestically and internationally. These need corrections that do not necessarily lead to a financial crisis. Our manipulation of interest rates cuts across the financial system and the economy. Ray Dalio does a good job explaining the short and long term credit cycles.

[@Tweetogreggieb59]

Two thumbs up, Congratulates Adam on the 250,000 subscriber's. 🏆🏆🏆

[@anthonyaltman]

Your guest had said: we should have about two years of cash on hand to get thou this down turn. For us in the middle income group this would be a great depression time period.

[@jert33]

5 dollars says this guy is jabbed.

[@briannave7326]

He didn’t mention Biden’s first mistake of shutting down the Keystone pipeline which was the main cause of our inflation problems.

[@barbaraz5251]

@@Marocanglais Yeah, not sure where he gets the idea that lack of immigration is causing our problems 🧐

[@kevinwoolley7960]

​@@Marocanglais perhaps I can help you. We are a nation with a birthrate below population replacement level. We have massive debt and an entitlement state that seems to know no limits. If we don't have large numbers of immigrants, this Ponzi scheme collapses like it has in Japan and is in Europe.

[@brucescott7705]

@@barbaraz5251 The idea is lack of immigration adds to a labor shortage which contributes to inflation

[@fhowland]

Totally a wokester

[@JohnTaylor-ts8wk]

Good to hear multiple viewpoints. Here’s a few of mine that differ: On the Fed: The Phillips Curve doesn't work The concept of R* & controlling interest rates to ease economic cycles is all wrong Psychology driving inflation is just dumb Higher rates don't bother me, but anti-labor narratives & psychological messaging cause unnecessary problems. On taxes & benefits: The wealthy mainly get passive income on the corporate side - corporate income taxes need to be higher. Make up for this by realistic trade policy- workers here shouldn’t have to compete with desperate migrants, chinese sweat shops, and the slums of India. Payroll taxes are way too high Consumption taxes like the VAT are heavier burdens on business - both in paperwork and cost - than most realize. I know business owners in Mexico and its ridiculous how they have to work around it there. Small businesses need a break from all the crazy regulatory and tax requirements. Have more exemptions, do more to encourage self-ownership of businesses and competition in general.

[@ChrisGenXer]

Once again, really enjoy how you summarize the topics throughout the different taking points. Interesting discussion and perspective, but there were a few things I disagreed with, one being when he talked about how he bought his first house when interest rates were in the double digits. Whenever I hear someone say this it’s like nails on a chalkboard. It was a completely different time back then, we were not in the debt crisis we are now, people weren’t living off credit, and there was not such a discrepancy between income earnings and the cost of a house. It’s like comparing apples and oranges. I thought his strategy for investing was pretty insightful and it’s something I’m going to look into more. On another note, I’ve been following for about 6 months or so and all the people who have been on seem to share the consensus that the economy is headed for trouble and we’re in for a long deep recession. I’m just wondering if there is anyone out there you could interview that shares the opposite opinion? It would be interesting to see what data points or historical information they are using to come to this conclusion. I’d hate to get into a confirmation bias mindset and put blinders on right now.

[@jj3682]

Congress did ask JPow about the possibility of raising the inflation target. Fed says no. But remember, 2% used to be a ceiling, now it's a target and in Aug 2021, the Fed committed to letting inflation run higher after periods where it was lower. The Fed has no idea what it is doing. As Steve Hanke says, they have given us whiplash.

[@adamsleath]

VAT (consumption tax) was mentioned. this was added circa 2000 in Australia. it did cause a sudden price inflation as it was added at various rates to various goods and services initially but there is no denying its revenues capacity. also it is in my opinion a fair tax in that it affects everyone in line with their consumption. basically once it is there it is there to stay and people dont really whinge about it. for those who are good with tax shelters/vehicles/minimisation strategies etc, well the vat captures them as well to provide a more sustainable base for your government services. anywho the u.s. is in a class of its own and i expect there would be, as there was here much opposition to bringing in such a fundamental change -it was opposed and defeated intitially but it came in anyway.

[@MAMP]

There’s just one problem with this man’s theory. The US govt cannot service it’s debt at 5% let alone 7 or 10%.

[@briannave7326]

I’ve had enough of this guy, I’m out of here.

[@BPoweredLove]

Uhh..umm..Uhh..Why? Err..Uhh...

[@mikkimikki5376]

Pop the bubble and let this guy out... 🥴

[@MatthewGrace99]

I don't know what your comment means, please elaborate! It sounds pithy and severe, so I'm interested in your opinion. Do you not trust the guest? Adam?

[@TheWhiteOakHomestead]

@@BPoweredLoveahaha uhh uhh ummm uhh umm uhhh… he was struggling for sure

[@CANWESTTECH]

He is tempered in his response because he thoroughly thinks through his theories. Pretty solid research analysis. If he is right we will all feel the drop

[@gregs6685]

I especially enjoyed this one with Chris B. It was enjoyable to listen to a semi-reformed Libertarian artfully wax thru the world of gov't and financial independence. Very prudent and thoughtful interview.

[@chris5401000]

Not everyone wants social benefits and adding more taxation i.e. VAT is not the way.

[@charlesbrown9213]

So the PIMCO guy wants more taxation on consumption. Here is an alternative: a securities (stocks, bonds) proceeds sales tax. Sell a 100 shares of AAPL or ITOT, you pay a 0.05% tax on the proceeds. Exempt the first few hundred thousand in sales per year (like we do with the standard deduction on income taxes).. Time for PIMCO and the financial industry to suck it up.

[@charlesbrown9213]

Here is another tax idea: Eliminate (gradual phase out) deductibility of depreciation from real estate, excluding one's own homestead (which would still be deductible). -- This would help take the "froth" out of the real estate market. Depreciation is, after all, a non-cash, accounting fiction. -- Any given piece of real estate can be depreciated multiple times -- each time a new buyer arrives. Its ridiculous.

[@neonovalis]

Taxation on consumption is a good idea if there are different levels of VAT. ... i.e. 5% VAT on small Electric car vs 25% VAT on an SUV.

[@miles.alexander]

And how much was your first house? Double-digit mortgage rates matter a lot less if your house was 50k vs 500k today.

[@brandonsmith6965]

People who paid 50k for a house were making around 2 bucks an hour

[@miles.alexander]

@@brandonsmith6965 that is funny...I looked up avge salary in 1965 and it was $7k/yr, when the avge home was around 21k. 2022 avge U.S. salary was like 55k avge home price 350k. I did not realize that we've lost this much purchasing power until just now.

[@ErrorOptik]

We already do pay a consumer tax, it’s called sales tax. Maybe politicians should be heavily taxed for every bill they pass.

[@Jeff__M]

Love this channel Adam! You’re the dude! 🎩👏

[@mikkimikki5376]

Same poop--new flies 🧐

[@mb8davis]

This guy is carefully picking his words because he’s part of the problem. Loved the way he went to a VAT instead of a wealth tax 🤣

[@SBiRAHNI]

Uhhhhhhh

[@neonovalis]

Wealth tax is propaganda... better VAT with higher VAT on swimming pools and sport cars.

[@tryolegend]

Taxation is theft 😂

[@mb8davis]

@@neonovalis I’d be a bigger fan of stripping the Gates Foundation of its ability to self deal and tax his (and it’s) holdings upon his death . .

[@bethannea4842]

Bingo!

[@GranFinale]

This guy doesn't see the crisis we almost had in 2008 because the banking system is well capitalized ? I'm out. ✌🏽

[@rentalproperties5212]

This program is awesome! I love it 🥰

[@SwissMovement]

We love Chris. Please bring him back

[@mullerk2]

Actually the Fed can solve the problem by reversing the huge mistake of close to 0% rates for about a decade. Asset prices must come down. Unemployment rates are not accurate as the current admin only knows how to report what they want to report. Inflation is much higher than reported. This guest rambles. Call a result.

[@tommyboy1653]

They want home price to stay high to keep sucking in the big property tax ,as the final days of fiat loosing value so fast the system implodes and they offer fix with CBDC.

[@jonathanlee5185]

👍nice variety of well-informed, yet down-to-earth, financial professionals on Adam's daily guest-list -- and always something to be learnt, be it large or small, from each 👍

[@williamh5011]

I agree. Not often you get a libtard in finance.

[@MichaelHarrington17]

The Fed should not be intervening into corrections (recessions) that itself creates with ill-advised financial policy. And any interventions to manage exogenous shocks should be limited. The policies of the last 30 years have been very ill-advised and have caused dangerous fragility in the financial system and the real economy. The "lender of last resort" is necessary only for credit crises. An economic correction, however, is a natural phenomenon.

[@brenthazel]

This guest is way too biased and political, not the sort of caliber we expect on Wealthion.

[@MattMatusiak]

The federal government must cut spending 20% immediately, if not sooner.

[@fhowland]

Won’t and can’t. Would cause a depression.

[@charlesbrown9213]

Given the massive deficits which have existed since 2000 (Thank you, George W Bush!) it will take large (multi-trillion) spending cuts AND tax increases to prevent eventual meltdown. Keep in mind, we also facing a "funding deficit" in a very few years, of Social Security. Politically, funding deficit will never result in reduced benefits -- that deficit will require more taxation or more borrowing.

[@MrSean03839]

Ok, what do you propose to cut?

[@MrSean03839]

​@@charlesbrown9213 Reagan started the first massive deficits in 1980. Clinton sort of balanced the budget, but that was more an accounting trick by transferring SS funds on paper. I think the last time the US had an actual balanced budget was under the Eisenhower admin.

[@glowwurm9365]

3 minutes in and I can tell this guys a neoliberal…. trump tax cuts and trump dollars during lockdown clearly had no implications for the market place! 🤦🏻‍♂️

[@nancyfrancis959]

So the market drops 30% and the investor adds his monthly installment. How long does it take to get above even? The new lo w prices are only great if you sold at the top, held the money then added it back in at the bottom. People with 401 K don’t get any tax benefits for their buy and hold losses.

[@cameronapollock]

You have a lot of great guests but for me Chris and this interview is one of the best of all time

[@denniswright5611]

I really like Chris' formula for savers/investors over their lifetime, especially that idea of applying one's monthly investment applied to the group that has declined the most. Exceptionally smart! I'm personally too old to use his formula but I'd certainly recommend young people consider it. I grew up having read the old book 'The richest Man in Babylon' by George Clason, first published in 1926. It suggested always taking 10% of one's income and investing it wisely while living on the remaining 90%. I can guarantee it works. I've never made big money but I've got all I'll ever need at this juncture of my life. Own everything, no debt and plan on leaving a good sum to my heirs. Just sayin'.

[@dansmith1282]

Excellent advice!

[@schwinnminibike]

This guy is detached from whats happening... he's like many out there.. it's kinna sad

[@MAMP]

I agree. His dream is not realistic

[@bsetdays6784]

Year-over-year inflation stood at 6.5% in December 2022-the lowest that figure has been in more than a year. Inflation was in line with what economists expected and gave many of them a reason to believe that the peak of inflation may be behind us. I have approximately $150k stagnant in my port_folio that needs growth. What is the best way to take advantage of this downturn?

[@adenmall7596]

you’re right! The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner

[@brandywhite9317]

I'm sure the idea of a coach might sound generic or controversial to a few, but new study by investopedia found that demand for portfolio-coaches sky-rocketed by over 41.8% since the pandemic and based on firsthand encounter, I can say for certain their skillsets are topnotch, I've raised over $400k from an initially stagnant reserve of $150K all within 14months

[@brandywhite9317]

credits to Eleanor Annette Eckhaus, one of the best portfolio manager;s out there. she;s well known, you should look her up

[@afriquenegocesarl3642]

I've come across a lot of recommendations but this one stands out. Eleanor Annette resume is pretty sophisticated, and shows she was active during the last bear market, I also emailed her. Thanks for the info!

[@roberthardwick6106]

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[@artcassetteworld9975]

Catching it live, inflation is here to stay.

[@jstro7136]

High mortgage rates are relative, you have to consider the rate compared to the price of the asset being purchased. House prices driven up by historically low rates makes historically normal rates seem very high. It's better to look at home payment to income ratios.

[@timnitz2654]

Finally, the reality check that we all needed to hear. The era of "easy affluence" is over. Time for quality, not speculation and excess.

[@rrishch]

20:00 We need to add in the productive benefits of green practices to our economic metrics. Similarly, subtract those activities that cause environmental/social harm.

[@jstro7136]

We need to add in the cost and growth reduction of green practices so we can have an honest cost/benefit analysis discussion.

[@detectiveofmoneypolitics]

Economic investigator Frank G Melbourne Australia is still watching this very informative content cheers Frank 🇦🇺

[@halbrooks4654]

"Increased appetite for Sovereign debt" is not, the issue. The past appetite, for the USA Treasury to be obligated to pay interest, to the private banking cartel, aka The Federal Reserve ,that has enslaved taxpayers into perpetuity, is the problem.

[@mikepepper8395]

The money made by the FED goes into the treasury it's a zero sum game. That is until treasuries are purchased outside of the country. This is the part the book leaves out.

[@halbrooks4654]

@@mikepepper8395Oh, right, Keynesian MMT, that government debt doesn't matter. Or it only matters when all the euro-dollars parked in Treasury bonds, get repatriated by a flood of redemptions ? If it was a zero sum game, the raising of the debt ceiling would not be an ongoing saga.

[@cactusray3368]

Since when is wanting secure borders and determining the quality and quantity of immigrants into the country xenophobic? This guy has denigrated a large swath of the middle and working classes with his arrogant and ignorant comment. Does he really believe that our current inflationary problems are due to inadequate levels of immigration when we've had record levels during this administration?

[@stevee8318]

wall street types want more immigration for one simple reason - it drives down wages and therefore increases corporate profits and stock prices

[@mcgems754]

Immigration keeps downward pressure on service industry jobs aka keeps inflation in check at least partly

[@cactusray3368]

@@mcgems754 Oh please! Inflation is a monetary phenomenon. I can see the Biden administration running with your assertion and advocating that we open the border completely to solve inflation.

[@makeyourlifeeasier5794]

VAT tax is perfect...on top of all the other taxes it's exactly what the middle & lower classes need right now! Also, let's keep Wall Street flooded with perks so Pimco can get even richer.

[@MD-hd1cp]

This guest really has some knowledge. Thank you

[@paulrobertson6262]

Best KZbin channel there is. Thank you for that! But isn't his consumption tax simply a sales tax? Thats already 10% where I live

[@c2camera]

It would be a national sales tax in addition to the combination of local/state sales taxes that you are already paying.

[@paulrobertson6262]

@Chris Collins thanks! Time to think about becoming an expat lol

[@MrSean03839]

It's a tax designed to impact the middle and lower income groups, not the wealthy. Which is why he is proposing it. ;)

[@gma729]

GREAT CONVERSATION !!! SUPER INFORMATIVE !!! 👏👏👏👏👏👏

[@linguistengineer588]

It sounds like what he's saying is that ultimately taxes have to rise, or cuts will have to happen, in order to both control the price rises (that are not real inflation) and pay down the debt.

[@XiledApostate]

This guy bought his 1st home for 110k. 🤣🤣🤣 He didn't buy an 800k entry level home at double digit interest rates.

[@TPayne-fm8ie]

My sales tax is 10.3 percent in Washington. My property taxes are over $1K a month. I can't take anymore value added taxes. Even a drink won't help because liquor tax is 20% plus a $6.60 bottle tax.

[@sewnsew6770]

Government is a wonderful scam. Organized crime types went into government went legit. So many levels of taxation and now 47 of GDP sucked up by all levels of government combined. 53 percent of economy in the USA has to pay for the other 47 percent and make a profit at same time

[@MS-dq7yh]

No wonder many are living under bridges in the state. $1k tax to live in your own property 😭😭😭😭

[@tryolegend]

And its the fault of the greedy businesses 😂🤣

[@arachosia]

Wow, how big is your property?

[@sewnsew6770]

@@arachosia In New Jersey property tax of 1500 per month is very common and it’s not on a large property. Blue states mafia went into government so could be legitimate. No risk and the money is good. Secession does seem more and more a good idea. Taxpayers have no representation anymore as oligarchs rule. I guess eventually it will all collapse. Right now people are fleeing to southern states

[@RobWilliams007]

The problem is that we are a service/consumer based economy. A VAT will slow that. I’m all for a Federal sales tax if they reduce the income tax. A Federal sales tax ends up taxing people who work under the table and who work in illegal activities because when that waiter/waitress or drug dealer goes to buy a TV or clothes or jewelry, they pay taxes instead of being in the shadows to the IRS.

[@DrAlanWeinstein]

Another great interview. Congrats on the 250k

[@TheGrayer2]

The banking system is well capitalized and consumer is strong? Seriously?

[@lambertois11]

Chris Brightman is compounding knowledge, experience and common sense !!!

[@salemsurveying]

Inflation is killing people who follow the save for the future--thinking of my Mom who worked and saved for 30 years. heck she wanted her grandkids to have $15 grand at a time when this would have bought a mid-home or three cars. yeah Mom all the hours worked and now that money is worth a good set of tires or just a down payment. heck no wonder peopkle are giving-up

[@4laughz]

Your guest cannot be more wrong with his statement when he said he bought his house with double digits interest rates the problem is not only high rates Sir, it’s affordability. Home prices were affordable at 18% rates. It’s not the case today with bubble prices.

[@MAMP]

They will be soon if rates stay up

[@philfortner1805]

We have simply reached the later stages of the fiat currency lifecycle. It's exponential so the periods between crash and responding stimulus is long but it halves while stimulus doubles. So we know the next stimulus will double the $7 trillion of 2020-2021 at $14 trillion and buys us another 12 months. But it explodes inflation and begins hyperinflation, which is the actual end about 12 months beyond that point. A Bitcoin standard is the future because it separates money from government and that's the whole problem.

[@omanyquestions5135]

We already pay a consumption tax... about 7% where I'm at. Anybody that's ever read Ayn Rand, btw, knows that she was batshit crazy. Extreme austerity. Perhaps we should stop spending 50% of our budget on military. And oh, idk, maybe ensure that corporations and uber wealthy people pay at least as much as the middle class. Problem solved.

[@eric3434]

Better yet, cut the tax on the middle class. Our government is way over compensated for their services.

[@marieb5251]

Well, well, well. "A run on banks" seems like a plausible scenario 2 days later with SVB failing. It's a wonderful life.

[@Metaphysics-for-life]

35:00 The VAT was in the political discussion!! Andrew Yang ran for POTUS in 2020 and one of his key policies was the Value Added Tax - VAT. Maybe it's time to bring Yang back into the discussion??

[@josehawkins4276]

Looming shortages of fertilizers and food over the horizon.

[@jonathanlee5185]

yes, I've been uneasy about this possibility. Historically, equality-obsessed societies -- such as communists -- end up in mass starvation and famine.

[@bp5662]

@9:44 It's nice to see someone hasn't forgotten this! Seems everyone has.

[@brianwilson5592]

Um... uh... ummmm... well this didn't age well with Silicon Valley Bank collapse today.

[@mdelgoldberg]

The person in the painting behind him is all of us.

[@davidr9651]

A VAT aids exporters as they can deduct all inputs. Makes US exportsmore competative

[@hagengocht3891]

If we can’t afford the debt we have and high real interest rates, then aren’t we racing headlong into the need for a “great reset”? The BRICS are already moving that way due to the US having abused the reserve currency status privilege. Is “got gold” the only real answer to all the questions given that John Q Public really doesn’t own any?

[@bugsbunny2357]

Extremely difficult to deal with all the stammering. Very hard to listen to it. Too much "uh, uh, uh, uh..." Hard to trust that.

[@MS-dq7yh]

Thank you Adam 🇪🇷🇱🇷

[@MichaelHarrington17]

One can't benefit from compounding returns unless real returns are positive. At the moment inflation outpaces nominal returns, which means real returns are negative. The likelihood of negative real rates of return on savings and fixed income returns means savers and lenders will just become poorer more slowly. This is a highly likely scenario because inflation is desirable for governments with high debt service. Governments dig their way out of debt by slowly bleeding their taxpayers and beneficiaries without them realizing it. A consumption tax (VAT) is regressive, as Europeans have discovered. The only fair way out of the massive wealth transfers of the bubble economy is a massive wealth tax, which politically won't happen. A better idea is a confiscatory inheritance tax that can be avoided if wealth is privately distributed before or at death in limited, decentralized grants to beneficiaries.

[@Sandwichking-hikes]

We need gold and silver money again

[@briandbeaudin9166]

No we don't. That would be a disaster. There wasn't enough gold and silver to back our (USD) currency years ago. It would be far worse now.

[@ftmrivas3043]

Thank you

[@Metaphysics-for-life]

It's called a "broke-rage" account for a reason.

[@kenmodenbach2403]

VAT? Add a Federal sals tax on top of the 8 to 9% sales tax already paid at the local urban level? Let’s just increase spending and keep increasing taxes.

[@edf10000]

Did he really say individual balance sheets are healthy? They are the worst in history. And EVERYTHING is GROSSLY over levered. Good stuff otherwise.

[@Tigornable]

80/20 rule. Save the 20% because we are important 🤔 (banks), but the 80% not important to save (self inflicted by individuals)🤔?

[@Golden.5555]

Could you please name the book Chris mentioned? Is it the panic of 1907 ?

[@brucesilva8923]

He is great! SAVE

[@makeyourlifeeasier5794]

He says he has "Libertarian roots," then wants a VAT tax on top of other taxes! His libertarian roots haven't been watered in so long they're drying up.

[@bethannea4842]

He was never libertarian

[@jstro7136]

Excessive government spending paid for by taxes will only serve to destroy long term growth. Choosing the least painful taxation method to stagnate future growth is only a short term solution. The financial pain will eventually have to come. Whether we become wiser from it is yet to be seen.

[@stitcheruk1150]

The regular retail investor is heavily into ‘passive investing’ through the likes of Vanguard or Blackrock and relying on other investor’s faith in sticking with those two institutions - if they were individual investors in stocks they would already be selling. Nothing will really happen in markets until investor’s decide to ‘get out’ of Vanguard and Blackrock.

[@mikkimikki5376]

Oh, Dear. Pop the bubble and let this guy out!

[@tomdonovan4842]

Very informative interview

[@maxs351]

Why is he saying that USA wouldn't have a VAT. I mean it's just called differently, but in most states you an additional 8-12% in every item/service.

[@reedolson9538]

First of all, when Adam welcomes you to the show, you don’t respond with “thank you.” You thank Adam for having you on his show. Wow. Manners? And for about 30 other reasons, I hope Adam never has this guy on his show again.

[@sewnsew6770]

Supply chains cannot be fixed by increasing interest rates

[@andersonandrew112]

Interview Larry McDonald next!

[@redhotsnow14]

The 5% return on t-bills in the face of 6% inflation still doesn't look very promising.

[@realbigugly]

That's life. There's potential for great buying opportunities in the future though. No need to make a nice profit every year.

[@joeym1635]

The maverick of wall street, just explained this well.

[@makeyourlifeeasier5794]

Sure VAT has worked so well for so many countries. Check how their productivity & GDP has slowed down after gorging on a VAT. This guy needs to do research first.

[@deborahbuffamanti4847]

Love your guest…. So insightful

[@TomMe-nx8dk]

Please have Art Berman on your show

[@brianwills4476]

I find Chris's cavalier attitude almost offensive. VAT tax? May hurt economic growth --which lowers tax revenues? How about some real detail on that. What about the VAT burden on the shrinking middle class? He sure doesn't want his income tax increased to pay for the government largesse. He wouldn't even admit that there was a recession last year. Consumer balance sheets are strong? Has he ever heard of credit card debt? What about the savings rate decline? Hourly workers should should put money away? Does he have any idea how many US citizens are living paycheck to paycheck. He's an outstanding avoider of the consequences of his superior utterances. I'll bet he's very popular on the California cocktail party circuit.

[@zenden6564]

Why have the PTB put a wrecking ball through America?

[@williampommeranz6821]

Why would a zero interest rate (free capital) ever make sense? It boosts the economy in the short term while mal-investment takes off. There always needs to be a hurdle rate (cost of capital) to reward savers and defer zombie companies.

[@paulader9007]

Big fan of the dollar cost averaging. But know your losers before you up your investment in them. Good way to rack up big losses if the investment is in a sector that is in secular decline. I upped all my automatic investments at the end of last year. Even though I think the market likely breaking the lows. Going with the time in the market over timing the market philosophy. We will see how it works this time

[@MattMatusiak]

Inflation is always and everywhere a monetary phenomenon. ~Alan Greenspan

[@fhowland]

lol Greenspan never said that. Quite the opposite. It was Milton Friedman.