Why The U.S. Won’t Pay Down Its Debt

[@MattsMkia]

It's a bit annoying and unfortunate. When i was born, the national debt was $2,150 per person. Now it's over $100,000 per person. And I'm not even that old. It's truly alarming and best advice get out of debt, make regular investments and be debt free and financially stable.

[@LUCIASMITH-d1z]

Diversify… I completely understand your concerns. But In this current unstable markets, It is advisable to diversify while retaining 70-80% in secure investments. looking at your budget, you should consider financial advisory.

[@IamJonny-o4v]

No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my Financial advisor are working on a 7 figure ballpark goal, tho this could take till Q3 2024.

[@JacobsErick-u8r]

This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation

[@IamJonny-o4v]

I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance advisors you could check out. I have been working with ''Melissa Terri Swayne’’ for about four years now, and she's really, really good. If she meets your discretion, then you could go ahead with her. I endorse her.

[@amoreauMike-t6z]

I just checked her out on google and I have sent her an email. I hope she gets back to me soon.

[@davidj6755]

The government’s debt doesn’t work like household debt because a household can’t print more money to pay its bills, lowering the value of everyone else’s money.

[@zionismisterrorism8716]

What if the household is in the counterfeit money business?

[@oas8766]

What about Inflation?

[@davidj6755]

@@zionismisterrorism8716 then it would be about the same.

[@davidj6755]

@@oas8766 that’s the typical outcome.

[@ok.ok.5735]

The government actually can’t print money. That’s why it is called debt but before around 1914 they could. Central bankers took over the money supply/printable supply after the government had no real power over their own currency and began borrowing from these bankers or banks that make up the Federal Reserve. Printing money used to never saddle us with debt but as Benjamin Franklin observed(USA had no major tax then) that inflation worked like it’s own type of tax.

[@FabiWann]

"It's better to burden the future generation with debt (taxes) than to burden the current generation with taxes." Fixed that line for you CNBC.

[@stachowi]

all money is debt. if you paid off the debt, there would be no money. You need more debt to create the "new money" for future debt intrest payments... it's a brilliant system if you're a part of the inner circle, everyone else is your slave.

[@marczhu7473]

​@@stachowithere gold and valuable stock as strategic reserve. 😂

[@scottpatrick8352]

​@@stachowi I have read a lot of idiotic, clueless, and simpleton comments on KZbin today. CONGRATULATIONS You are the winner for topping them all. Yay you.

[@stachowi]

what part of what i said isn't true? have you ever looked into it? are you independently wealthy? i'd guess no to all of them@@scottpatrick8352

[@spy_balloon]

Bravo

[@NicholasBall130]

I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.

[@StacieBMui]

Consider buying stocks when the economy is not doing well, like during a recession. It could be a chance to buy them at a lower price and sell later when prices go up. Just keep in mind, this isn't financial advice, but sometimes it's better than keeping a lot of cash.

[@StocksWolf752]

Accurate asset allocation is crucial. Some use hedging or defensive assets in their portfolio for market downturns. Seeking financial advice is vital. This approach has kept me financially secure for over five years, with a return on investment of nearly $1 million.

[@EleanorBaker474]

Mind if I ask you to recommend this particular coach you using their service?

[@StocksWolf752]

The advisor that guides me is Sonya lee Mitchell, most likely the internet is where to find her basic info, just search her name. She's established.

[@VictorBiggerstaff]

I just checked her out on google and I have sent her an email. I hope she gets back to me soon.

[@Legoman69469]

“Borrowing is a way to not burden the current generation with debt”. So burden the next generation with our debt?

[@tommyeschung]

And our generation is not having kids

[@smallpeople172]

Every dollar of public debt is a dollar of private equity. National debt is nothing more than a counter of how much private equity a nation has

[@TimErwin]

That's the Boomer way of life.

[@smallpeople172]

@@TimErwin boomers are the only loons who care about the debt lmao. Everyone else knows it isn't an issue

[@markblanc5993]

Implicitly they meant any current generation

[@naturalselfyoga1617]

If the debt doesn't matter then the US should stop taxing us. Just keep borrowing the money they spend.

[@timogul]

It only doesn't matter if we make at least _some_ token effort at responsibility. If we just took the brakes off entirely then it would implode. That's the issue with the Republican debt ceiling shenanigans. If the US just keeps doing what we've been doing for decades, borrowing where needed and servicing that debt, then it's fine, not a problem, but if Republicans crash us into the debt ceiling then all bets are off and the economy could start to implode, because nobody would trust the US to pay back those debts anymore. Our reputation is all that matters, not he amount of debt we take on.

[@mattweiss7645]

It's called revolving debt. They still have to raise revenue to pay the old, outstanding debt that comes to maturity.

[@rogvarley6971]

Not a single dollar from our taxes go to national debt. That’s a fact

[@timogul]

@@rogvarley6971 Not exactly true. The thing with the national debt is that it's a rolling debt, if we owe $32T today, then we will pay off ALL of that $32T within the next 20 years or so, everyone who loaned us that money will walk away with their promised amount. But _also_ we are likely to take out _new_ debt over that period so that we end up at or above what it is now. So in that sense, plenty of tax dollars go into paying off the debt, we just also take out new debt to pay for the _other_ important stuff. But _also,_ we do spend the tax dollars on things so that we don't need to run up _more_ debt than we currently do. I mean, right now, last year the US brought in $4.9T, and spent $6.3T, so the debt went up by $1.4 trillion, but without those tax revenues, it would have gone up over four times FASTER.

[@rogvarley6971]

@@timogul not a single dollar goes towards national debt. It’s a fact. You may not agree but it’s still a fact. Feel free to educate yourself

[@VideoSiteAccess]

What I got from this video as to the why’s: 1- Everybody else is doing it. 2- Spending in the now is more important than saving for the future. 3- The US is too big to fail. 4- Nothing that bad is happening.

[@mikesvideos2944]

Felt like I watched an ad.

[@skyewatson6204]

@@mikesvideos2944😂

[@suntzu6122]

Its msm. Overt propaganda

[@Terrathrax]

What did you expect from a news outlet with "NBC" in its name? The worst part is that the clueless masses will believe now that debt isn't such a bad thing because those are the morons that watch these channels.

[@spastikman]

If that was your takeaway. Then that's an indictment on your attention span as well as your understanding of monetary policy.

[@patriaciasmith3499]

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[@steceymorgan814]

With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the Dollar's perceived safety. Worried about my $420,000 retirement savings losing value, I seek alternative security for my money.

[@elizabethwilliams6651]

I think QFS, XRPL and the Humanitarian Project are the solution for this.

[@AnjeloValeriano]

Do you know how I can switch to QFS banking?

[@Jennifer-bw7ku]

Yes, Angela Rodriguez Elias she is a great woman of God who has the great insight on QFS, NESARA, XRPL and the Humanitarian Project. She will guide you on how to switch to the qfs banking before the global currency reset takes place. Don't be a victim of that great reset. Get ready for Gesara Nesara, switch into the QFS for your own safety.

[@AnjeloValeriano]

How do I contact her?

[@planewire2153]

They failed to mention that 70% of our tax revenue would end up paying only the interest payments

[@Michael-z7b5s]

Yeah this video was straight up misinformation. They also failed to mention that if we magically lowered rates to zero then nobody would buy the debt being issued because inflation is at least 3% and if you have no buyers then the debt wheel stops turning and the US government stops paying interest/principal on past debt. Ooops

[@DocOrtmeyer]

Our tax revenue is about 4.9 trillion, the intrest payment would be about 1.5 trillion

[@-_-----]

They "failed to mention" a whole lot, in this little spin piece 🤢

[@cbizzy2009]

That's not true.. we bring in 3.8 trillion a year in taxes. The interest is 300 billion we can pay it but it's not us doing this we have no control of our govt. They are just not paying it for what ever reason or plan they are destroying the country and Americans on purpose

[@buravan1512]

There's a lot that wasn't mentioned...😂

[@Quantitative_Teasing]

I cannot believe how Stephanie Kelton, the proponent of this MMT insanity, still has the audacity to come and postulate that debt has no consequences after that insane bout of inflation we just had by doing exactly what she advocated. Debt has consequences, monetizing debt is even worse.

[@segasys1339]

lol u mad bro? MMT ftw.

[@Piggy991]

She has those crazy Theranos eyes

[@Piggy991]

Charlie Mungers head would explode listening to this MMT arguments

[@wargodEx]

The US did massive QE from 2009 to 2015 with no inflation observed. The inflation you're seeing now is supply driven.

[@noahboday2008]

​@@wargodExThere are different types of inflation. The government is solely responsible for monetary inflation. Price inflation due to supply change issues is not why all your groceries are twice as much as they were two years ago.

[@ryantetreault3447]

Why would it? Everyone in power knows the person after them will have to deal with it.

[@mariiposaass]

exactly!

[@doujinflip]

That's one problem with not having age limits for politicians, they're usually buried and they and their beneficiaries past popular criticism by the time their decisions truly take effect. We already accept a mandatory retirement ceiling for bureaucrats and private sector workers, but why not elected officials too?

[@lzh4950]

Meanwhile my country's (Singapore) gov't justifies politically unpopular policies by saying that it doesn't want to pass down our current problems to the person after them

[@jeremiahanderson614]

Kind of like the environment. We still use way more petroleum, destroy more finite resources, maybe make some small initiatives to redo, but that give and take ratio means less for the next person. It's a game of music chairs

[@LoughBellis]

Invest judiciously, keep a stop loss figure. Shuffle between debt and equity wherever the ratio goes too off your target. As for the target, I recommend a Ratio like this Debt % should be equal to your age in years. If you are 20, debt is 20%, reset in equity. If the market falls or rises drastically, your debt % will change, which you should rebalance to 20% and bring back equity to 80%. Thus you would have bought low or booked profit depending on if it was a crash or a bull run.

[@PhilomenaCopple]

Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.

[@NoorFrohock]

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.

[@PitcockRoth-9876]

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.

[@NoorFrohock]

I definitely share your sentiment about these firms. Finding financial advisors like ‘Carol Vivian Constable’ who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@PitcockRoth-9876]

I just Googled her name and her website came up right away. It looks interesting so far. I'm going to book a call with her and let you know how it goes.Thanks

[@asdax8311]

Debt is a way of living in the USA. Everything is financed from houses to cars, student loans, and even furniture. Everywhere you go, you see everyone seeking opportunities to nickel and dime you. These type of people also get voted into office over time. Summary: The reason why the debt is so high is because we the people let it run so high.

[@jojog8304]

Corporations run on debt too (and bond offerings, VC funding, etc...), and what you describe also happens within corporations too.

[@t4ac]

Shhhhh... don't call it debt. Just say leverage!...

[@chowsquid]

And yet, most innovations come from the US. The largest corporations, technology, infrastructure, military.

[@Chicago48]

The US cannot erase the debt and for the Congress to pretend it can is ludicrous.

[@kemangraya2382]

Especially now, we almost don’t have cash paper money in our walet. It is either debit or credit card. Mostly credit card i think. That is debt everytime you used it.

[@michaelanderson8053]

Those other countries don't have the reserves Currency. That's is why debt Matters to the United States. We need to treat the reserve currency status as a privilege that we have It allows us to live well beyond our means because of that. In my opinion.

[@shubhamgarg09]

You are 100% right in my opinion😅

[@franwex]

Yep. The US does take advantage of that privilege. On the other side of the coin, the US provides a very safe security that the world has also an insatiable appetite for at a level no other entity can fulfill.

[@TomNook.]

That's why the global south want Dedollarization

[@hamzamahmood9565]

There's a good reason for dollar being the world reserve. It's backed by the strongest country on the planet that has the largest network of allies on the planet. And people who say gold is an alternative are stuck in the 1800s.

[@LyricalTampon]

This is just financially illiterate. We're the largest financial investment platform in the world, that's why we're the reserve currency. The debt is irrelevant to our reserve status.

[@furanduron4926]

Imagine being so bad with money that you can steal 40% of peoples income and still end up in 33 trillion dollars of debt.

[@williammelear2906]

The criminals running the government aren't in debt. Just ask the big guy! Lets go Brandon

[@LeebanJama]

There wouldn't be any "income" without government in the first place. Money is a government invention. It literally says that on the bills.

[@soneshkoolath8744]

​@@LeebanJama The currency (US dollar) is a government invention. Money is something every civilization has had and will have if not for US dollar it would be commodities or foreign currency would take its place.

[@ZyrainVDW]

And Biden spent; more like 'squandered' more than 100 billion dollar just for Ukraine. Madness! The US would cause troubles to the whole world although the original intention was only to hurt China and Russia. Great.

[@valdivia1234567]

Blame the American voter. The overwhelming percentage of voters on either side make zero effort to learn basic economic concepts, e.g., printing money causes inflation.

[@johnthicks8568]

I'm going to start telling the bank that my debt isn't real... it's just an accounting record 🤣

[@MrTigerStarX]

Well if you earned a trillion dollars a year and could print money they might let you

[@BeaverChainsaw]

When you start your own universally accepted global currency that you alone control tell me how it works out for you

[@Reeldeal818]

@@MrTigerStarXwe the people do make Trillions in taxes

[@akshatrastogi9063]

You are spot on baby!

[@RobbieLancelot]

Forget Japan or Singapore, any economist worth their salt agree that both of these countries are pretty much exceptions in terms of public debt and it's still not clear how they manage to survive while having such a high burden. But wait, who's next on that list? Ah yes, Greece, Eritrea, Sudan, Italy, Zambia, Suriname... upstanding examples of nations with well managed public finances.

[@jacobjones630]

'Forget the outliers' is a great economic framework to have when looking at the US, the outlier of all outliers.

[@josephlynch7655]

The US is even more privileged in this regard than Japan, so your point is moot.

[@RobbieLancelot]

@@josephlynch7655 Says who? It's got nothing to do with privilege, whatever that means. Japan survived almost three decades with no growth and high debt. Whatever that reason may be, it can't be applied to the US to justify the insane amount of debt.

[@RobbieLancelot]

​@@jacobjones630 A great economic framework is comparing two country, US and Japan, that have very little in common.

[@chowsquid]

Japan and Singapore has things the world want. Those other countries has little to offer the world.

[@agc5k104]

As a CPA, I'll just say that running a deficit like we do just means we don't tax enough for the amount of spending we have. We either need to raise taxes or cut spending, or some combination of both. Otherwise, we have to run a deficit by issuing more debt which kicks the can down the road to future generations. And as the debt grows the cost of servicing the debt (making payments on it) will continue to take up larger and larger portions of government spending, and with that, will require higher taxes for future generations.

[@chowsquid]

Let’s just say it’s a perfect world and US cut its debt by half in combination of raising taxes and cutting spending. Where do all the money sloshing around in the world go if the US issues only half its normal bonds?

[@gordyscherer3112]

Absolutely correct. It's a combination of more taxes and less spending, but no one wants to face the pain....just kick it down the road for others to deal with. Pathetic leadership.

[@lordofthepies]

​@@gordyscherer3112i mean its a democracy. As the video touches on at the end, politicians kick the can down the road because its politically infeasible, the people get what they want

[@painandsuffer]

What about the US Total Debt and US Unfunded Liabilities...? We will never pay it off🤣

[@normalisoverrated]

Joe "Briben" needs to stop wasting money on purple hair projects.

[@Powerz00]

is it really worth investing in stocks in 2024, I’ve been on the sidelines watching the market for awhile and it seems to be pretty stagnant to me not that it matters because I’m in it for the long run, but how can one generate actual profit in this current market?

[@WestonScally7614]

It may be a good idea to speak with a financial advisor who can help you develop a portfolio based on your individual goals and risk tolerance.

[@SaintYvess]

Partnering with a financial advisor has transformed my approach to investing. Their expertise and personalized guidance have not only helped me navigate complex financial markets but also optimized my portfolio to achieve my long-term goals efficiently.

[@sting_grayl]

Your advisor seems competent. Could you share how I can reach out to them? I've recently sold some property and am interested in investing in stocks, and I'm seeking guidance.

[@SaintYvess]

*Jennifer Leigh Hickman* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@JordanReam8186]

Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info

[@gimmick206]

You mean when the debt is about 300 billion dollar less at the end of july, not 3 billion less. The debt is so high that the narator cant comprehend and mistaken it.

[@johnyossarian9059]

Thank you, I thought I was going crazy!

[@kinpatu]

This channel isn’t the greatest at math.

[@martinpalm5]

@@johnyossarian9059 it's called gaslighting, MSM is great at it.

[@leeroyjenkins3677]

Credibility thrown out the door within the first minute haha

[@vasudevsarvam6912]

​@@kinpatu😂😂😂

[@ChristopherAbelman]

Inflation is putting my dream vacation on hold. Every penny counts these days, so that fancy getaway abroad will have to wait until this inflation mess chills out.

[@FinnBraylon]

Don't give up on your dream entirely! Explore closer-to-home travel options or research travel deals during off-peak seasons. You might be surprised what you can find.

[@HildaBennet]

Very true, you can be passively involved in the markts and still amass wealth-gains using an investment advisor. I first dabbled in stocks late 2019, just before the pandemic, and that same year gained over 150% with no prior investing experience, basically all I was doing was following directions of my asset manager. We are working on a retirement ballpark of $3m and I’m certain my goal isn’t farfetched after subsequent investments and tremendous returns so far.

[@PennyBergeron-os4ch]

Mind if I ask you to recomend this particular coach you using their service?

[@HildaBennet]

Sharon Lee Peoples is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..

[@PennyBergeron-os4ch]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@EvaHoffmann153]

Implement a prudent investment strategy by setting a stop-loss limit and regularly reviewing your portfolio. Maintain an optimal asset allocation by rebalancing the debt-to-equity ratio to align with your target. Consider adopting an age-based ratio, where your debt percentage equals your age. For instance, a 20-year-old would aim for a 20% debt allocation and 80% equity. When market volatility occurs, rebalance your portfolio to restore the target ratio, allowing you to capitalize on market fluctuations by buying low or securing profits.

[@henryallard245]

Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.

[@MarshalWagner457]

I wholeheartedly agree, which is why I prefer to have my daily investment decisions guided by a professional advisor. Their expertise lies in navigating complex market dynamics, simultaneously taking calculated risks to capitalize on potential gains while hedging against potential downturns. With access to exclusive information and in-depth analysis, they're well-equipped to make informed decisions that drive success. I can attest to this, having worked with my advisor for over two years and achieving a net gain of over $2.8 million.

[@MarshalWagner457]

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.

[@AshleySommerset808]

I've been contemplating this move for some time but haven't yet taken action. Selecting a firm to partner with has proven challenging, as they seem to offer similar services. Nevertheless, your success with your current advisor is evident, and I would greatly value a recommendation. Your guidance could help me navigate this decision with more confidence.

[@MarshalWagner457]

I definitely share your sentiment about these firms. Finding financial advisors like ‘Rebecca Noblett Roberts’ who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.

[@juliopaveif]

Why does it feel like this is a paid ad?

[@DocOrtmeyer]

It’s complete propaganda

[@vrrc7686]

This is the time when a little of history and economic classes kicks in.

[@buravan1512]

Still, their facial expressions betrayed them big time 😂

[@justsomenobody889]

Yeah kinda feels like those videos they’d put out a couple years ago with all sorts of scientists very confidently saying to get the shot and covid will stop spreading, even as we all were watching our friends and family getting sick with it whether they’d gotten the shot or not… best not believe your lying eyes though, this is way too complicated for your little brain and the experts always know best! Definitely don’t pay attention to that man behind the curtain!

[@a13xdunlop]

Because it is.

[@Beatricegove733]

The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?

[@PatrickFitzgerald-cx6io]

I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.

[@Justinmeyer1000]

45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.

[@foden700]

Your adviser must be really good, I hope it's okay to inquire if you're still collaborating with the same adviser and how I can get in touch with them?

[@Justinmeyer1000]

She goes by ‘’Aileen Gertrude Tippy’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did

[@foden700]

Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon.

[@riddlese]

"Treasury bonds have always been considered an incredibly secure asset" they literally said the exact same thing about the housing market until it collasped under the weight of bad debt.

[@jelm9304]

When people start saying DEBT IS A GOOD THING that means we are near the end. If our economy does not grow, then we are done. Government treasuries are becoming junk bonds.

[@angeliclucas301]

Didn’t that happen before

[@ShellyHuerta]

I think it's important to stick to stocks that are immune to economic policies. AI stocks that have the potential to power and transform future technologies. It seems AI is the trajectory most companies are taking, including even established FAANG companies. Maybe there are other recommendations?

[@KacieLehman]

I bought into NVIDIA around September last year because my financial advisor recommended it to me. She said the company is selling shovels in a gold rush. It accounted for almost 80% of my market return this year.

[@MelindaMatsuda]

@@KacieLehman That's a great analogy and I love the insight. Professionals could make a really big difference in investing, and I think everyone should have one. There are aspects of market trends that are difficult for the untrained eyes to see.

[@ShellyHuerta]

@@MelindaMatsuda That's a great tip. I'm setting out 50k to invest in the market this year. Any particularly useful tips you could offer to me?

[@MelindaMatsuda]

@@ShellyHuerta Victoria Carmen Santaella is the licensed coach I use. Just research the name. You'll find the necessary details to work with a correspondence to set up an appointment.

[@ShellyHuerta]

@@MelindaMatsuda I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip

[@smallpeople172]

A normal interest rate is around 5-8%. The 2000s and what happened to interest rates since 2000 is a gross, extreme, abnormality.

[@RandallWeeks]

They had to keep interest rate near 0% under Obama because the regulations kept growth under 3% for 31 of 32 quarters. The only quarter growth got bigger was when his candidate lost.

[@Ziegfried82]

Yes. The Fed really made a bonehead move keeping rates near zero for so long.

[@StochasticUniverse]

This is a fair point. The unwinding of the Age of Easy Money, as it has been called, is actually just a return to the long-run course of history.

[@zuzanazuscinova5209]

How did you determine that? It's probably much higher without the Fed.

[@smallpeople172]

@@zuzanazuscinova5209 I'm basing it off what it was in the 90s/oughties

[@brianwhitehawker1756]

We can't ignore the potential impact on portfolios. Bonds are often considered a safe haven, and if they crumble, investors like me might scramble. I’ve been investing for 11 yrs and my $1m portfolio has never been this depleted, how i do hedge this?

[@Tonyham198]

Investors embracing the idea that abruptly cooling inflation will put interest rate hikes on ice. During recessions your dividend gains or income reduces. Speaking to a certified market strategist can help with navigating this downturn.

[@yeslahykcim]

I agree, having a brokerage advisor for investing is genius! Amidst the financial crisis in 2008, I was really having investing nightmare prior touching base with a advisor. In a nutshell, i've accrued over $2m with the help of my advisor from an initial $350k investment.

[@codeblue11]

@@yeslahykcim impressive gains! how can I get your advisor please, if you dont mind me asking? I could really use a help as of now

[@yeslahykcim]

I'm being guided by “Leila Simoes Pinto’’ who is widely recognized for her competence and expertise in the financial market. She has a thorough understanding of portfolio diversification and is regarded as an authority in this field.

[@Jadechurch-ql3do]

I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.

[@andi_Lee]

It's just plain ridiculous to say that US national debt don't matter! When debt grows faster than the economy, interest payment will eat an increasingly large portion of national budget, necessitating either more taxes or more cut backs in other govt services. And part of this debt is owed to foreign govts & investors. US dollar being the world reserve currency allows US to cover up the perennial trade & balance of payment deficit. How long will this pyramid scheme last? Does U.S. have to be constantly at war to maintain this status quo?

[@rayjou742]

Hate to be the devil’s advocate here, but politicians have been saying that forever! “Taxes will go up” “services will get cut”. Guess what? None of that happened or will happen. I’m not saying the debt doesn’t matter, but please stop with the hyperbole. No normal human being lives their lives day to day worrying about our national debt..

[@veganpotterthevegan]

​@@rayjou742you don't have to worry about it to suffer or at least see the consequences

[@andi_Lee]

@@rayjou742If you don't see it, doesn't mean it's not happening. Taxes have, de-facto, gone up for majority of Americans when the inflation significantly move up their tax bracket even though their purchasing power remain the same or actually decreased. Money printing has papered over and postponed much of what could have been the negative consequences, but it's already coming to roost.

[@andi_Lee]

@@rayjou742If govt debt has no negative consequences, why don't all countries' which needed money have their central banks print more to lend to their govts? Reserve currency of US dollar is simply postponing the negative consequences for US.

[@hh0686]

For the U.S., just declare bankruptcy

[@MylesShank]

CNBC: “don’t trust professional economists… trust us…”

[@snarckys3063]

A lot of professional economists are actually saying exactly this.

[@nicolasbenson009]

The United States as we know it is no more. All signs point to 2023 being a year of significant economic hardship for the entire nation. Put your cash to use straight away to increase its value. I was aware that I needed to invest. I had no idea how quickly a few thousand dollars a month would go up. Though it is. Since 2020, I've made about $600,000.

[@hersdera]

Fiduciary counselors have access to exclusive information and data sources that aren't available to the broader public. By heeding the guidance of my fiduciary counselor, "Margaret Johnson Arndt," I managed to generate earnings exceeding $820,000 during the third and fourth quarters of 2022. I have high expectations for continued success.

[@hersdera]

I use Margaret Johnson Arndt she’s highly qualified and experienced in the financial market. I recommend researching her credentials further because she has many years of experience and is a valuable resource for anyone looking to navigate the financial market

[@rcm-bm8qb]

Yeah, people have been saying that since the 1960's. Predicting the end of the world is a profitable industry - and now it is a self fulfilling prophecy because so many people believe it.

[@perrysmajestic988]

This comment aged like milk-April 2024

[@kunal21195]

Aged like milk

[@northerniltree]

"If you don't have it, you can't spend it" is grandfatherly advice no one has ever heard.

[@coreyham3753]

But the government can print as much money as they want to, so it is not really a question of "not having it".

[@ralphalf5897]

​@coreyham3753 or is it... Venezuela enters the chat.

[@coreyham3753]

@@ralphalf5897 Maybe you should ask Chump and the GOP about the 8 trillion dollar deficit they racked up over just 4 short years of gross incompetence.

[@marcob.7801]

@@coreyham3753 Same as stealing it, no??

[@coreyham3753]

@@marcob.7801 No, not really. The problem is at the Federal Reserve and them not having or being willing to have some form of "hard assets" to back up the US dollar. Similar to the old gold standard but with something more practical like a basket of assets such as oil, energy, etc. They could do that, but they are unwilling to do so apparently.

[@aaroncoulter3462]

The bigger problem that nobody talks about is our trade deficit. We import way more goods than we export. If we could get back to producing things that the rest of the world wants, we could crush our debt in a single generation.

[@jlindsa]

I think it's safe to say there are many reasons an economy could come crashing down and while debt may not be the biggest concern for the US economy, there are plenty of other bigger concerns (some we aren't even aware of like the 2008 mortgage-backed securities fiasco)

[@presidential3228]

Capitalism will never be sustainable economic system every empire that practiced capitalism has fallen… us is no exception if anything its going to fall even quicker…

[@noahway13]

. You are so right. Look at national debts around the globe. Look at corporate debt, look at student loan debt, look at the housing bubble, automation is taking more jobs every year, wars, etc, etc..

[@C33dis]

So basically it boils down to the powers that be saying “I don’t need to pay off my debts”. But it’s the everyday citizen that gets the shaft.

[@NightRidah777]

This video is wild. Its like me with a ton of credit card debt saying im fine because my neighbor is worse and they havent been thrown into prison yet.

[@vasudevsarvam6912]

😂😂😂

[@grimaffiliations3671]

the national debt isn't really "debt" in the traditional sense. It's just our stockpile of US treasuries. US treasuries are just a different kind of dollar, they're both government instruments and they are directly convertible to one another. So when the government adds to the "debt", they just turn dollars into bonds. And when they pay off the "debt" they just turn those bonds back into dollars.

[@NightRidah777]

@@grimaffiliations3671 Jesus Christ we're doomed. Don't repeat this anywhere but here please 🤣

[@4rzaluz]

​@@grimaffiliations3671Dilution of wealth is what you meant to say.

[@grimaffiliations3671]

@@NightRidah777 What about it is wrong?

[@AliceAnderson-in1et]

I remember when I just got into crypto back in 2019 but later in 2020 I ended up selling it because I was dumb and I didn't understand it. I studied and learned and now I know how it works. Got back into crypto early in 2023 with 10k and I’m up with 128k in a short period of time .This comment serves as motivation for all those who have invested and continue to invest in cryptocurrencies with so many losses, do not give up, cryptocurrencies can change your life. Do your best to connect with the right people and you will surely see changes.

[@dulcehahn12]

I'm new to cryptocurrency and don't understand how it really works. how Can someone know the right approach to investing and making good profits from cryptocurrency investments?

[@IsaacClark-j7h]

As a beginner what do I need to do? How can I invest, on which platform? If you know any please share.

[@AliceAnderson-in1et]

As a beginner investor, it’s essential for you to have a mentor to keep you accountable. Myself, I’m guided by Alex Gomez. A widely known crypto consultant

[@dulcehahn12]

I'm surprised that this name is being mentioned here, I stumbled upon one of his clients testimonies on CNBC news last week...

[@AliceAnderson-in1et]

I started working with Alex Gomez back in June, and my financial goals have never been clearer. It’s like having a strategic partner for my money with a solid track record.

[@jacobrogers2214]

The government’s ability to spend is not bound by tax collection or debt issuance, other than by its own laws. Those laws merely serve as guardrails to keep the money supply from rapidly inflating (and instead, just moderately inflating). In that sense, the government creates an amount of money by spending it into the economy, and separately destroys an amount of money by taxing it and issuing bonds to the private sector or foreign sector. This serves to keep confidence to sell bonds and to de-incentivise wanton spending. This issue is that they don't pay it back. When government debt as a percentage of GDP gets very high but is denominated in its own currency, rather than default in nominal terms (bond become worthless and bond holders are left holding an empty bag) they “default” with inflation and financial repression. They hold interest rates low, have their central bank create new money to buy the bonds, and let inflation run high. Bondholders get paid back, but in weakened currency. As a result, bondholders lose purchasing power on their assets. Inflation confiscates the value from them and from the consumers who's wages lag behind.

[@Azx499]

What’s the solution?

[@stephenbermingham6554]

​@@Azx499a revolution

[@timogul]

While printing money _can_ cause inflation, the US printing money is not a _significant_ factor in inflation. I mean, for all the inflation we've had recently, it was _lower_ than in most of the world, which would not have been the case if the cause were "printing money." It's just an unfortunate side effect of various supply chain problems, both accidental and intentional, coming out of the pandemic and the Russian genocide in Ukraine.

[@shsal110]

Great post, really clarifies why owning assets (stocks/ETFs, RE, art, etc.) Beats holding bonds or cash for the long term. Sure there's volatility, but that's the price you pay.

[@jacobrogers2214]

@@timogul this is primarily because we can export our inflation to the rest of the world. We are starting to see treasuries come back. When we stop being the last ship for the rats to run to we will see the consequences of our decisions.

[@MinusThePrevail]

Common sense has truly become less common…

[@franciscodanconia4324]

The Japanese economy has an entire lost generation of Gen X/millennials that can’t find work or can’t earn up to their potential. There have been costs to Japan, they just aren’t blatantly obvious.

[@zuzanazuscinova5209]

It's insane given how productive their economy is.

[@Hossak]

Do all those homeless camps in the us represent a lost generation? Where's Japan's camps then?

[@franciscodanconia4324]

@@Hossak most of the Japanese are living with family.

[@gleitsonSalles]

Japan unemployment rate: 2% oh yeah...

[@grimaffiliations3671]

That is due to their really high consumption taxes, not their debt.

[@Wlad-v2w]

One of the most brillian investing advice i have ever gotten on youtube came from watching an interview with Julianne Iwersen Niemann. Indeed, A solid investment strategy is like a well-planted tree-it can withstand storms and still grow strong.

[@PajinakStanovska]

I’ve heard of her How can i reach her, if you don't mind me asking?

[@TianaManeO]

⁠ her name is 'JULIANNE IWERSEN NIEMANN'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@florianmadison]

Well it gives me more time to get ahead while they stew in their own pity and doubts as they childishly complain about those spreading the word

[@FinanceVijaySurya]

My dad used to tell me the same thing about his debt and not repaying it when i was a kid, he used to tell me there are no consequences to it. And now the banks took everything that was a memory of our family and relatives. Even those property that my grandparents had are also gone. He also took debt in my name when i turned 18, now the banks won't believe me, i had to pay it for something I never enjoyed. Never trust debt kings.

[@6862ptc]

Don't blame the banks for your Dad's mistakes. Nobody forced him to take out loans.

[@samfkt]

Debt is your friend if you can handle it. Look up the whole stock market, from 3-4 debt to earning ratio to up to insane 10 - 20 debt to earning ratio and most of thoses companies are still doing very well long term.

[@willyknickers9295]

Rookie mistake. He should've taken on more debt to pay the debt

[@dantong5623]

People who have already been holding US treasuries will not see a huge windfall, and the bonds they are holding will depreciate when interest rates rise, so it is actually harmful to them. People who buy treasuries, especially long term treasuries, right now, however, have the chance to have a quick profit if the Fed cuts rate in the near future.

[@nathanhaltman7235]

Right…journalism is dead. Clowns run the media.

[@tommyeschung]

Correct I have lost money because most people invest through bond ETFs not bonds themseleves but either way they are down masove

[@lolalalia4119]

So you can make money but only if you have money in the first place... that's how the rich get richer and the poor get poorer. If I'm disabled with no income or assistance from my government, how do I participate in this financial racket that works to consolidate wealth with those that already have it? This is furthering corporate capitalism and wealth disparity and does nothing to actually help the average US citizen.

[@buffalobill1415]

We are on the pathway to economic doom, there will be no cutting the rates.

[@nathanhaltman7235]

@@lolalalia4119 The math is simple. Increase your income, decrease your expenses, and invest the rest.

[@CliveBirse]

It is a government inspired crisis this time. The Treasury have to sell Bonds to cover the trade imbalance and the government spending imbalance. In order to sell them they have to raise interest rates and the old long-term, low risk, low interest, AAA investments (including Treasury Bonds), held by the banks (often due to government regulatory policy), become next to worthless. The next milestone should be soon when the government issue a new batch of Bonds.

[@91ScottieP]

Indeed, you are correct! But on the advantageous aspect, economic downturns offer numerous prospects for ordinary individuals to create wealth from the ground up. Nevertheless, seeking guidance from an investment planner might be necessary if you desire a more assertive return.

[@mariaguerrero08]

In the world of finance, recessions are prime opportunities for wealth creation. When my port-folio suffered a significant loss in April of last year, I realized the need to enlist the expertise of a financial consultant. With her guidance, I have not only recovered from my losses but also generated a profit of 250k. The knowledge and skills I have acquired through this experience have been invaluable in my journey towards financial success.

[@Madison-Huff]

@@mariaguerrero08 I'm happy to have stumbled upon this discussion. If you don't mind, could you tell me the name of the financial adviser who helps you with your investments and how I might contact them? It Intrigues me to keep learning

[@mariaguerrero08]

Having a counselor is essential for portfolio diversification. My advisor is *Mary Onita Wier* she covers things like investing, insurance, making sure retirement is well funded, going over tax benefits, ways to have a volatility buffer for investment risk, many things like that. She is easily searchable and has extensive knowledge of the financial markets.

[@JulietKellyy]

Thanks for sharing this. I did my own little research, and your advisor looks advanced and experienced. I wrote her an email outlining my objectives and I also scheduled a phone call.

[@FreuleinBey]

Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got talking about investment and money. I started investing with $120k and in the first 2 months , my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and gets more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family...

[@FlorentGulliver]

I’ve been forced to find additional sources of income as I got retrenched. I barely have time to continue trading and watch my investments since I had my second daughter. Do you think I should take a break for a while from the market and focus on other things or return whenever I have free time or is it a continuous process? Thanks...

[@FreuleinBey]

@@FlorentGulliver Quitting may not be the best approach if you ask me. This is where an AI comes into the picture. I barely have time to trade myself as my job swallows up most of my time. *MARGARET MOLLI ALVEY*..

[@FlorentGulliver]

@@FreuleinBey Oh please I’d love that. Thanks!

[@FreuleinBey]

*MARGARET MOLLI ALVEY*

[@FreuleinBey]

Lookup with her name on the webpage.

[@ericeandco]

They say the debt is merely an accounting record like it doesn’t mean something. Your rent and credit cards are an accounting record of your debts. Once that debt gets too high see what happens.

[@AddilynTuffin]

If we are to survive in this economy, we need assistance right away. The ETF and stock markets are still quite volatile, just like the property market. My $370,000 portfolio is crumbling, what’s the best way to take advantage of the market?

[@judynewsom1902]

Many people are still getting fantastic returns on their investments during this time. Simply maintain a strong sense of reality or ask for professional assistance.

[@AgueroBankz]

I made more than $320K during this slump, demonstrating that there are more aspects of the market than the average individual is aware of. Having a Financial consultant is now the best line of action, especially for those who are close to retiring.

[@Redwood4040]

I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same.

[@AgueroBankz]

*SHARON LOUISE COUNT* a Financial consultant I watched on Bloomberg Business News. These days, the best approach to enter the market is through reading, researching, being patient, and getting advice when necessary. After that, everything went smoothly.

[@Redwood4040]

Found her webpage by looking up her name online. She seems very proficient, scheduled a call.

[@RedShipsofSpainAgain]

Me: owes $50,000 in student loan debt that the US Government demands be repaid, or my entire life is ruined financially. US Government: owes $33 *TRILLION* and doesn't have to repay any of it. I love this country. There are 2 sets of rules. And the US government gets to play by the other set of rules.

[@Torontogonetosdon]

See if you your student loan debt can be forgiven. Biden had a plan for that.

[@aimxdy8680]

US debt is money owed to Itself, Your money is owed to someone else.

[@erniekeller1093]

Sovereign debt IS the payment. The debt is where it belongs, and so are the assets the debt creates. What would motivate a currency issuer to annihilate the assets the economy is based on? The sovereign debt is a record of the financial assets provided that have not been taxed back. The question is not whether the government could tax all the saving back. The question is what possible reason could exist to do it. It would be insane IMV.

[@RedShipsofSpainAgain]

@aimxdy8680 except crucially, the US government gets to create money out of thin air via the federal reserve. I don't get that privilege. It's not apples to apples.

[@texdevildog9174]

The federal debt from 09/29/23 to 03/22/24 increased $1,414.79 Billion, over 175 days. That is $8.08 Billion each day and it is an annualized rate of $2.95 Trillion a year, or about 10.56% of GDP.

[@BrightMessyWorld]

Interesting presentation. That one woman who says that the national debt is nothing to worry about comes off more like a PR person than a professor. The cost of debt service is seriously impacting us today, not just future generations. It's easy to say the govt. is just balancing printing money (=inflation) and taxation (=taking money from us). Every dollar of debt service comes out of our pockets either as taxes or inflated prices.

[@Diego-tm3dj]

Never trust in women speaking about money.

[@mail4500-bx9lb]

Spot on! Someone is paying the debt thru inflation and tax.

[@ronwatkins5775]

What happens when the interest payment on the debt reaches 100% of revenue?

[@kyungshim6483]

I don't think that Japan is a good example to follow for America's debt to gdp ratio. They have not seen economic growth for decades. And what about other high national debt countries such as Greece and Italy? They have been having their economic struggles too.

[@smallpeople172]

Why do we need growth? We need degrowth

[@marktaylor3802]

Japan only need to change fiscal policy to the same as all other coutries use to manage the cash/debt rate and the whole world is then in a recession. More stock market keep the ponzi's going garbage. Evergrande collapses in China weeks ago but no shockwave. HAHA.

[@Commievn]

​@@smallpeople172 No we need more LGBT_VIP!

[@lolcatjunior]

@@smallpeople172 Tech needs growth in order to live with low carbon tech.

[@Commievn]

Exactly! Japan is an export-oriented and it is also one of the world largest creditor. Meanwhile The U.S is consumer-oriented and the world most in-debted country on Earth. Don't look at Japan for example. Lebanon would be a better example. 80% of Lebanon's economy was in service sector, it was considered the "Switzerland of middle-east" because of their banking policies. The U.S too also have 80% of their economy in service sector... This is very dangerous.

[@thedoctor.a.s1401]

It's mind-boggling how people have the mendacity to say we don't need to pay off our debts. We are spending money we don't have on things we cannot afford.

[@DanangAlta]

meanwhile we give it all away to Ukraine, Israel, Iran and manipulate both sides of every conflict.

[@jonathanjacob5453]

6:20 “But mom all the other kids were doing it as well” 😂

[@BrooklynBound4]

Did not mention needless wars and money being given away either contributing towards increased debt.😊

[@robertbrady3783]

The video showed the recent September Debt to GDP ratio at close to 100%, showing the very worst ratio of approximately 106% to 119% by the end of the war in 1945. Today (Oct 11 2023) our total debt to GDP ratio is at 137.53% and continues to climb uncontrollably as we print money out of thin air.

[@jumpingspider7105]

Yeah, I'm really bracing for the economy to be in a total crisis like it was in the 1950s... Oh wait, after a small postwar recession (mostly caused by production shakeups as we didn't need factories to be churning out tanks and bombers anymore) the US entered a prolonged period of economic prosperity... Its almost like your entire framework for understanding debt is total BS. Also where do you think the money comes from? You think they pick it off trees or dig it up from the ground?

[@mrd03]

@@jumpingspider7105 We're at total-war debt to gdp levels for day-to-day spending.....and the rest of the world's industrial base ins't bombed to hell....this comment was not well thought out.

[@marksuave25]

​@jumpingspider7105 and the US Federal government wasn't saddled with an underfunded pension and medical plan and the US used to run budget surpluses. You can't compare the 2020s and the 1950s. We had a much younger population and a smaller federal budget.

[@jackofallglass165]

this is not true... the national debt is mostly owed to other countries and is controlled by the world bank. just look at japans national debt, they've been paying it off since world war 2 and that's why there taxes are so high. more debt means more taxes that have to be paid. no country has ever defaulted, many have re structured there debt. like Venezuela. yes 72% is owed to American citizens but that means currently 30% of the taxes you pay every year are going to other countries and the richest of the rich. its 41% for japan. taxation for debt repayment is slavery.

[@UntoTheLaot]

This is why there needs to be an age limit within congress/presidencies

[@Tricia-Tricia]

Age is not the only criterion for assessing a person's skills and qualifications.

[@UntoTheLaot]

@@Tricia-Tricia that’s besides the point isn’t it? The president cant seem to finish a press conference without leaving early (or mid question) which is obviously due to his age. Have you ever seen a President do that? It’s the same deal with Mitch McConnell. He has to have an aid rush to his side when his mind goes blank, mid sentence, on air in front of millions of watchers. The proof is right in front of you, you just need to look.

[@paxdriver]

"Has debt been inflationary the last 3 decades of fiscal deficits? No... " Uhhh, yeah, yeah it has lol. We got productivity gains like no other time in history from computers, internet, mass marketing and data analytics during that time and the real spending power of the bottom half of the income ladder got poorer while being priced out of education and real estate. We had 2 decades of stimulus in the form of QE and 0% interest and still, people can't afford healthcare, homes, and now food too. Inflation is lagging indicator, and it doesn't point out mitigating factors like one-time productivity boosts like the advent of smartphones. The gap in between wealth and poverty and the volume of hours worked while travelling and on call out of the office should have been making those workers richer all else being equal - but it's not "all else equal", though, because the national debt is money spent lining certain people's war chests and offshore accounts. National debt is fine when the benefits are spent on the people collectively, because then benefits and costs break even (usually with more upside due to economies of scale), but when Musk, Bezos, Gates, Zuck, etc "earn" more money than most countries, it kind of makes you wonder how if a country's debt is supposedly good for it then why aren't billionaires operating on personal annual deficits too? Answer: because overspending and undercollecting is a childishly stupid way to manage a growing pool of money. What this piece's author fails to grasp is just because a bubble hasn't burst does not infer there is no bubble. Some things take decades to unravel, like consequences of national policy. Plenty of military strategists told Putin the war in Ukraine would be days, someone told Hitler he could take over the world, and USA believe Iraq would be an in-and-out kind of affair. The consequences are felt long after we even realized how badly we goofed. Here's the thing, we engineer inflation so we can borrow today and repay it for cheaper later. That's the whole theory behind debt being stimulative in a nutshell, but that also means the person buying that debt will demand a premium to compensate for that future value because they're not stupid either, they don't want to break even on purchasing power for the risk they're taking, that's not how debt is bought either. Debt is bought to make the lender money so if the borrower is depreciating value in the currency in order to make servicing their debt cheaper then there will only be a buyer of debt if the real value of the loan revenues is anticipated to outpace depreciation for both parties - the debtor wants something now rather than later because the time they'd otherwise wait is more costly and the lendor wants an ROI which exceeds forecast future value. The price of debt is the balance. TLDR :: when a puff piece tells you not to worry about national debt they're either lying or incompetent.

[@CarC369]

Very well said. I want to believe CNBC is incompetent because this is a huge amount of misinformation being that is being spread. I'm glad you pointed out that inflation is a lagging indicator because most people blame inflation on Bidenomics. The truth is inflation that is being felt is actually from the Trump era from 4 trillion dollars in Covid bills that were signed in 2020. We have yet to feel the effects of Biden's own Covid bill, Build Back Better, Chips act, and Inflation reduction Act. I hope more people read your comment because this is exactly what is happening.

[@Nolsie]

Thank you for posting what I wanted to say. If today’s teenagers were to be paid the minimum wage IN GOLD that kids were paid in 1970 they would be making 77$ an hour. Minimum wage used to be a dollar or 60 cents in lots of areas. Good was ~35$. These productivity gains have 100% been captured by inflation, any improvement in technology was moved overseas, and the wealth generating effect of having industry local to your country for the poor was lost before the year 2000 in favour of technology speculation.

[@ismailahmad9597]

Impressively written, and helpful. That last paragraph though: When you write, "Debt is bought to make the lender money so if the borrower is depreciating value in the currency in order to make servicing their debt cheaper then there will only be a buyer of debt if the real value of the loan revenues is anticipated to outpace depreciation for both parties - the debtor wants something now rather than later because the time they'd otherwise wait is more costly and the lendor wants an ROI which exceeds forecast future value," are you saying/implying that the current system depends on massive U.S economic growth? And that last sentence, "The price of debt is the balance." I don't understand that. At least, I don't understand that in the context of everything else. It seems you're saying the price US citizens pay for the debt is the debt itself. As in the economic loss the American people suffered and the "certain people's war chests and offshore accounts" benefited is reflected in the balance of the debt. But that doesn't seem to take into consideration the interest and the inflation costs, so I could be off the mark.

[@lordofthepies]

​@@Nolsieyour comment on the wage of the 70s to now doesnt really make sense

[@Nolsie]

@@lordofthepies the gold price in 1970 was $35.96 an ounce. In 1970, young people were paid in gold as the USA’s dollar was the reserve currency and could be exchanged for gold at any time. The minimum wage the in USA was 1.60$ in 1970. Now the gold price today swings around 1900$, in my country it is 2600$. If we paid the poor in gold today, the same way they were paid in gold back then; minimum wage would be something like ~1/35th of an ounce an hour or 55$ USD or 77$ CAD. Do a similar exercise with housing. The consumer price index and the minimum wage are deeply misleading metrics. They leave out the goods that are accurately measuring inflation like land and gold.

[@genotriana3882]

I love how they use Japan as an example but ignore Venezuela and Greece. They also leave out Japan’s dramatic underperformance in economic growth (which improves people’s lives). A lot of the people interviewed are committed to a narrative that fiscal responsibility doesn’t matter but do not have much evidence to support that view.

[@googleaccount5225]

The scare of debt isn't the inability to pay bills. It is what has to be done to pay the bills, turning into Zimbabwe and Venezuela.

[@adam964]

Gaslighting hard at work.

[@Ziegfried82]

It's fine! We can spend a gorillion bajillion gazillion! When bozos talk like this and promote MMT it does make me wonder: why not just print the gazillion right now then and give it to the people if it works so well?

[@SU1C1D3xPR4D4]

Oh cool! Looks like we need 0 taxes! Just print and borrow from other printers! Sweet!

[@jorgepachecojr8581]

With all the technology we have, you'd figure the public would have more say in what the money is spent on. More transparency. Crazy how a handful of people decide on what tax money is spent on.

[@ShawnRitch]

CNBC, nice try at trying to make it look like dept is okay and necessary. Any halfway intelligent individual knows better.

[@ThisIsNateMori]

This is horrific. No one wants our horrible debt.

[@Seanz2088]

I am not an economist. However, I understand that when interest rate is not zero, the interest payment could be an issue. There are two ways to pay for it. One is to pay by tax revenue. The other is to print more money, ie. having the Fed reserve bank to purchase the debt. The problem is that this way causes inflation. Inflation is acting like a tax to everyone. There is really no free lunch.

[@suntzu6122]

Inflation is evil.

[@timr798]

Comparing US with the other countries where the Debt to GDP ratio is higher, it worths to mention that almost all the countries besides Japan has significant problems in their economies because of debt. And many of them has high inflation rate.

[@grimaffiliations3671]

All of the countries with problems have debt in foreign currencies. That's the problem. The US and Japan have debt in their own currencies

[@shawn576]

@@grimaffiliations3671What about the UK? Their debt is issued in their own currency and they need unbelievably high taxes to deal with it. They have a 20% sales tax in addition income tax, property tax, a "TV license" tax.

[@grimaffiliations3671]

@@shawn576 Those taxes are optional

[@shawn576]

​@@grimaffiliations3671 Not paying the 20% sales tax is punishable up to 7 years in prison.

[@grimaffiliations3671]

@@shawn576 i mean levying those taxes are optional. They're not there because of the debt

[@Zachtually]

This isnt a political statement or even saying whether a strong IRS is good or bad but everyone's focused on taxes when the real issue is spending

[@hunterphung3638]

the problem is that we have to pay interest. The problem we think we have a lot of money and become wasteful.

[@timogul]

But it's better to have to pay that interest than it is to not spend the money on useful stuff. It's only an issue if we spend the money on stupid stuff, like border walls.

[@hunterphung3638]

@@timogul more waste and abuse than spending on things we need.

[@timogul]

@@hunterphung3638 While no system is perfect, the overwhelming majority of spending is on things that we need, and waste or abuse only account for a tiny fraction of the overall spending. Of course, it was higher than usual during the previous administration, but the Biden administration brought that under control. Even in cases where a program is "wasteful," it is often still better to take that risk than it is to not do it at all. For example the PPP had a lot of people abusing it, but at the same time, failing to do it at all would have devastated the economy. It was better to allow that some people would try to cheat than to not provide the benefit at all.

[@hunterphung3638]

That is not true. every agency, department spend on things that they don't need to secure the budget because they are afraid that if they don't waste the money they will lose the budget the next year. The way we spend the money is out of politics not necessity.@@timogul

[@john_doe_not_found]

TLDR: If you take a loan to buy a house, that is fine. If you take a loan to buy groceries, you are in trouble. America is taking a loan to buy groceries, every single day.

[@grimaffiliations3671]

the national debt isn't really "debt" in the traditional sense. It's just our stockpile of US treasuries. US treasuries are just a different kind of dollar, they're both government instruments and they are directly convertible to one another. So when the government adds to the "debt", they just turn dollars into bonds. And when they pay off the "debt" they just turn those bonds back into dollars.

[@paxundpeace9970]

That debt is what is filling yout retirement account in many cases.

[@suntzu6122]

​@@paxundpeace9970you just lost twenty percent of your savings in 18 months due to our money printing lol?

[@ivnb92]

@@grimaffiliations3671 you have a gross misunderstanding of what our national debt means my friend.

[@grimaffiliations3671]

@@ivnb92care to actually contribute something to the discussion? how am i wrong?

[@Ziegfried82]

When other nations get concerned about the US government's irresponsible behavior, they may stop buying treasuries. This can also happen when you sanction other nations such as Russia, China, etc. and make countries nervous about being involved with the US monetary system. The US dollar became the reserve currency because the world saw it as the best option for international trade...the choices being made lately by the US gov are causing countries to rethink that. So going into ever increasing debt during these times could lead to the death of the US dollar..to keep this scam going you need suckers to keep buying into buying treasuries. OH and using Japan as an example of debt not being so bad? Insane. Japan is in big trouble.

[@bruxi78230]

Even though there is lots of talk about alternatives to the dollar, THERE IS NO ALTERNATIVE. Other countries should quit dreaming, not gonna happen and this is because of many decisions made by people around the world that has nothing to do with the US government. Just the opposite of what you're saying is happening, the dollar has grown in strength since the Fed started raising rates. It is actually now being used in a higher percentage of international trade compared to a few years ago. Another huge advantage the US dollar has is the unparalleled investment market in the US. It's very cheap in terms of commissions to participate and gives investors access to lots of great companies. If those investors ever decide to liquidate their investment it is a very simple transaction to do. Savers around the world in countries with weaker currencies prefer to hold their savings in dollars. Just ask anybody with even small amounts of savings in South America. These savers could hold euros, or pounds, or yuan, but invariably they hold the dollar, the chance of that changing anytime soon is next to zero.

[@Romualdomgn84]

@@bruxi78230 If a country does not want to deal with US dollar anymore, then US aircraft carrier with hundreds of aircraft onboard comes to the border and gives last warning. So, nobody wants to play games with US military force and continue dealing with US dollar (except Libya, Syria, Pakistan, Irak, Yugoslavia, Haiti, Sudan and tens of other countries where US invaded). Compare with baddie at school. You have to do his homework and make his shoes clean, for this he pays you with candy wrapper (candies, obviously, he eats by himself). If you do not accept candy wrapper from baddie, next morning be prepared for be severely beaten or... change your mind and continue serve for even less payment.

[@juandenz2008]

But then you have to ask whose debt would you rather hold ? Russia's ? China's ? There aren't many credible alternatives.

[@Romualdomgn84]

@@juandenz2008Really hard question, but something has to be changed.

[@vasudevsarvam6912]

😂😂😂😂😂

[@398robin]

You remember in 1913 when the Federal Reserve set up our current money system. Unfortunately, our government has been spending more money than it takes in taxes for many years. Our National Debt is now more than $34 trillion dollars. Our money is not backed by anything, and it could easily crash with so much inflation now.

[@boggytrails]

It felt to me Ms Kelton was flat out lying in her portrayal. Implying government debt is an 'accounting issue' because it is held by the 'public' (implying a closed-loop) completely ignores who owns bonds (largely the wealthiest 1% - both domestic and global). If deficits and interest rates continue to grow, interest payments to these bond holders not only infringe on social programs now, they ensure the public stays on the hook to continue distributing wealth upwards; unless heavy wealth taxes are introduced to mitigate this burden.

[@grimaffiliations3671]

Sure but if the deficits that created those bonds go towards programs that help the less well off, everyone is happy

[@GregGeorge189]

This administration has putting so many families into difficult situations, I pray for our country, we need compassion for the American people,

[@-janetlucas-eb9pk]

It's important to conduct thorough research and exercise caution when trading or investing. Always verify the credibility and track record of individuals before making financial decisions. Investing during periods of volatility can be a smart way to build wealth.

[@scottpatrick8352]

Nope. We got exactly what we voted for. Soon we will have to pay the price.

[@reckless20]

And previous administration contribute zero account for the situation according to you

[@reckless20]

And previous administrations account zero to the situation you're referring to

[@danhtran6401]

You prefer the last administration with impeachment trails, sexual sandals, capitol riots, and golden shoes from China I bet... 😂

[@HarrisRyan-oy8eo]

Since the debt crisis could unleash carnage on the stock market leading to economic downturns. We need to be prepared for potential market volatility. how can I secure my $600K stock portfolio against declining?

[@yokohl6997]

Yes let’s just ignore that the Japanese Yen is now worth like nothing Debt means printing money which equals devaluing your money

[@Arif_PAK]

Money equals debt. As long as the domestic and foreign investors have confidence over US dollar, the economists will keep saying that national debt is nothing more than an accounting record. If that confidence is lost, there will be run on the bank. In US dollar, we trust is the name of the game!

[@davidj6755]

It would be great to return to a form of money that isn’t just based on trust.

[@jonnelson9760]

@@davidj6755except that it doesn’t exist.

[@grimaffiliations3671]

it will still be an accounting record even if everyone dumps the dollar. the value of the dollar comes from taxes not bond sales

[@grimaffiliations3671]

@@davidj6755 Not it wouldn't, the gold standard era was a time of constant depressions and poverty. Only fiat can support the economy adequately

[@Arif_PAK]

​@@grimaffiliations3671 The bond market is much larger than the tax amount. Fiat currency is essentially a promissory note.

[@victorhuynh4031]

It is good to have manageable debt to fuel economic growth but run away debt will destroy the economy in the long run.

[@Tricia-Tricia]

Yes, moderate debt can help fuel economic growth, but uncontrolled debt can hurt the economy in the long run.

[@2024Red-j5t]

The declining value of the US dollar due to inflation is a concern, but it's gaining strength relative to other currencies, gold, and property. People are gravitating towards the dollar for perceived safety. I'm anxious about my $420,000 retirement savings depreciating with high inflation. Where should we safeguard our money?

[@KristianDobson]

Opting for an inves-tment advisr is currently the optimal approach for navigating the market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 85% since 2022

[@BenjaminMcLeod815]

Who is the coach that provides guidance for you? I urgently require assistance; my stock portfolio is stagnating, and I need investment advice for retirement.

[@KristianDobson]

I take guidance from ‘Nicole Desiree Simon‘ to meet my growth goals and avoid mistakes, she's well-qualified and her page can be easily found on the net.

[@KristianDobson]

That would be Nicole Desiree Simon. You should look her up, I say. To be honest, I almost didn't think I should, but I'm glad I decided to let someone handle growing my finances.

[@BenjaminMcLeod815]

I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip.

[@jeromebychowski7006]

At 6:17, that delusional lady falsely stated that the Government budget doesn't work anything like a household budget. That is completely false. After another 30 years, the United States Government will not be able to make the minimum interest payments, they will default on all those debt payments, and claim bankruptcy. Several countries did that in the 20th century. Venezuela is one of them, and their quality of life there was reduced. The United States of America is following a course to a lower standard of living, and a lowered quality of life ,for everyone here in the next 30 years.

[@garynbeaver]

Absolutely the most ridiculous explanation why debt is good. Debt is the worst thing you can have. Ask the middle or lower class Americans how their family debt affects them. Printing money devalues the money. More and more foreign nations are turning away from the US dollar.

[@danhtran6401]

Like which nations?

[@danix4883]

Which nations? Argentina is currently trying to make the dollar their official currency

[@gj8550]

I have to hand it to this Stephanie lady. She can make a piece of swamp sound like prime real estate. She said…’national debt is nothing more than an accounting method.’😂😂😂 Well lady, you need to convince all these countries that are dumping US dollar because they no longer believe in it.

[@owenphl1652]

She is the main proponent of the Modern Monetary theory, which says QE is good.

[@gj8550]

@@owenphl1652 Did you mentioned Modern Train Wreck Theory? Evidently, many countries worldwide are not drinking her Kool-Aid.

[@grimaffiliations3671]

the national debt isn't really "debt" in the traditional sense. It's just our stockpile of US treasuries. US treasuries are just a different kind of dollar, they're both government instruments and they are directly convertible to one another. So when the government adds to the "debt", they just turn dollars into bonds. And when they pay off the "debt" they just turn those bonds back into dollars.

[@gj8550]

@@grimaffiliations3671 So when the US treasury bonds that China, Japan and all these other countries hold become mature, the US government is just going to tell them that they are not ‘real debt’? And when the pension funds that hold these bonds come collecting, you are just going to tell them that they are not ‘real debt’?

[@grimaffiliations3671]

@@gj8550 No, when those countries bonds mature, the US will simply reduce the money in their bond accounts and increase the money in their reserve accounts. It is very easy. When the debt is in your own currency, you never have to miss a payment. Bonds and dollars come from the same printer, and they are easily convertible to one another

[@SimoneAdeliens]

i'm favoured financially, Thank you jesus $32,000 weekly profit regardless of how bad it gets on the economy

[@Annayuu851]

I always wanted to trade for a long time, but the price fluctuations have been very confusing to me. Although I have watched many KZbin videos about it, I still find it difficult to understand.

[@Berylmason85]

Personally, I would say to get a guide. Not sure where you will find a good one, but if your knowledge of the market is limited, it seems like a good idea.

[@Isabelfarr-ce1tw]

Wow, I'm a bit surprised to see Ronald Tarrant Blinks mentioned here also. Didn't know he has helped so many people.

[@Berylmason85]

people who care knows that he has built a great reputation over the years. I found him with a simple search.

[@DarnaRosales]

When someone sails at their craft, they tend to attract attention. This insight is particularly valuable for me, given my recent losses with a token. I'm seeking guidance to navigate through this.

[@redthunder6183]

“A society grows great when old men plant trees whose shade they know they shall never sit in.” -Ancient Greece

[@XxDaReaper613xX]

6:57 Now, japan is in a recession 😂

[@victorhuynh4031]

Dang now These experts talk about unsustainable debt is good for US economy.

[@rampy4963]

And yet Japan exports more than it imports. Unlike the US.

[@doujinflip]

What we export though is much more value-added and not so replaceable, as it's dominated by services that make up almost 80% of GDP. We create things like lithography photomasks that tell places like TSMC and Sony Semiconductor how to even manufacture their exports -- we can put a real squeeze on those foreign firms simply by not providing the order.

[@nurlindafsihotang49]

@@doujinflip with big gun and threat, if they did not want to use "US tech", they would get visit from NATO.

[@seanthe100]

It's really not a big deal for the US as out of all nations on earth the US economy is literally in the bottom 5 of nations dependent on trade. Having a trade deficit makes those countries more economically dependant on you than you on them.

[@seanthe100]

It's really not a big deal for the US as out of all nations on earth the US economy is literally in the bottom 5 of nations dependent on trade. Having a trade deficit makes those countries more economically dependant on you than you on them.

[@Ziegfried82]

@@nurlindafsihotang49 a lot of US "allies" are in that position it seems. US military still occupying both Germany and Japan, and lately we've seen France get resentful.

[@michadabrowski949]

Very informative, I've learned a lot! Thank you very much CNBC! :)

[@UchihaGremory]

Kelton literally inplied that we can just print money to pay debt. 😂😂😂😂 Staright psyops

[@Thatanonguyintheback]

Because it's true. It's just inflationary

[@djangounchained-w3s]

@@Thatanonguyintheback 'just inflationary'.. miscalculations and hyperinflation are possible

[@juandenz2008]

It's true. The US treasury Department could mint trillion dollar platinum coins and use them to pay off the debt. Not saying it would be a good idea, but it is legal and possible.

[@4rzaluz]

​@@juandenz2008It is impossible to produce enough tangible assets at the rate of amortization.

[@CG-dd9tb]

No she didn’t. Nice try 👌

[@tampabayrodeo2474]

As a soon-to-be retiree, keeping my 401k on track after a bumpy 2022 is a high goal. I've read about investors generating up to $250k ROI in this present sinking market; any suggestions for increasing my ROI before retirement would be greatly appreciated.

[@mcginnnavraj4201]

You might follow a lot of intriguing stocks in many industries. I'll advise you to work with a financial advisor who can assist you decide when is the best to buy and sell the shares or ETFs you want to acquire since you don't have to act on every forecast.

[@graceocean8323]

A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

[@MattDouglas-hj9wh]

Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.

[@graceocean8323]

"Carol Pasol Lewis". You can easily look her up, she has years of financiaI market experience.

[@ai-with-steve]

I'm so not convinced by Stephanie Kelton and MMT (Modern monetary theory). We need to rein in it and stop overspending. Why risk the entire country's future on a theory?

[@CheveraChino]

When was the last time we ran a budget surplus?

[@Ziegfried82]

I'm not convinced either. MMT only works so long as the USA has the world reserve currency and lately it's policies are eroding that.

[@tradeprosper5002]

@@CheveraChino 2001

[@kevinstfort]

@@Ziegfried82so you’re saying it works.

[@OlovMetal]

Pay your debts people. Do not let this piece keep you off the ball of handling debt. Debt is a curse, it is a burden, it is the taker of freedom.

[@prajwalpramod3970]

I’m skeptical about Stephanie Kelton’s claim that “debt isn’t as harmful as mainstream economists suggest it is.” (6:31) I think it’s important to keep debt under certain limits (like 70% of the GDP).

[@juandenz2008]

Remember when Reinhart and Rogoff wrote a famous paper that showed economic growth slows dramatically when the size of a country's debt rises above 90% of Gross Domestic Product. Later a graduate student discovered that their spreadsheet contained an error and that 90% wasn't some sort of magical threshold after all. Indeed some studies don't find a relationship between debt and growth at all. I'm not saying debt doesn't matter, but sometimes politicians use a number like 90% to argue for extreme austerity which is also a mistake.

[@grimaffiliations3671]

but debt in the US never approaches 70% of gdp, so you agree with her

[@Tricia-Tricia]

It is important to note that the ideal level of debt for an economy is subjective and varies depending on factors such as economic conditions, fiscal policy and the structure of the economy. A commonly used indicator is the debt-to-GDP ratio, which represents the level of debt relative to the size of the economy. Your suggestion to keep debt below a certain limit, such as 70% of GDP, is in line with the approach of many policymakers who aim to maintain fiscal sustainability. This perspective emphasizes the need for responsible fiscal management to avoid excessive debt burdens that could hinder economic growth and stability. In any case, debt management requires careful consideration of various factors, including sustainability, interest rates, investment needs, and the potential impact on future generations. Economic policymakers need to assess these factors and take appropriate measures to ensure a balanced approach to debt management.

[@KimberlyO.Kitchens]

These are extremely useful rules for anyone looking to grow rich. Unfortunately, the majority of individuals that see this video will be unable to implement the ideas. We may not like to acknowledge it, but as Warren Buffett famously stated, investing is like any other profession: it takes a certain amount of knowledge. It's no surprise that some people are losing a lot of money during the bear market, while others are profiting by hundreds of thousands. I'm just not sure how they do it. I now have around $570k to invest in the market.

[@Saviourtina-c4i]

Dealing across multiple asset classes can reduce risk more effectively than putting all of your money into one. If you don't understand finances properly, see a financial consultant.

[@CharlesT.Foster]

Agreed, a lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.

[@juliasalley]

Market behavior can be complex and unpredictable. Mind if I ask you to recommend this particular coach to whom you have used their services?

[@CharlesT.Foster]

'Stacy Lynn Staples' , is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.

[@heatherj-o5j]

Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.

[@Lee-nr5xv]

I will NEVER be convinced that 32 TRILLION dollars of debt is okay.

[@snarckys3063]

Your problem then

[@DonGivani]

Especially when Usa has to pay China, Japan and Luxembourg interests for these debts. Can you believe it Luxembourg owns USA

[@stevenhochman1]

China and other countries hold our debt and we should not be in that situation. If China sells our debt we go into a depression type of economy

[@painandsuffer]

"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered...." Thomas Jefferson

[@firstlast8258]

If people care about the homeless so much they can open their home to them

[@painandsuffer]

​@@firstlast8258That's not the point it's talking about . What a putz 🤣🤣

[@firstlast8258]

@@painandsuffer takes one to know one 🤓🖕

[@painandsuffer]

​@@firstlast8258Aww, did someone get their feelings hurt? That is so cute. At least you're trying with the old-school comeback.😂

[@Octovisuals]

In fact that is impossible and anyway State politicians in fact do control all the money, and that is WAY worse. We are just starting to see the effects... This is just the beginning.

[@AgentSmith911]

When the world moves away from the US dollar as a trade and reserve currency, it's gonna be interesting to see how that effects the US debt and economic situation. More and more countries are joining the BRICS and will eventually stop using the dollar for trade. Countries and institutions might even start demanding the US pay down its debt in other currencies. If I was an American, I'd make sure I diversified in crypto and physical gold to be safe from the giant house of cards collapse. Printing money isn't going to help when the dollar is worthless.

[@millevenon5853]

Good joke. America was the biggest economy since the civil war, almost 100 years before its currency became the world's reserve. America is the second most industrialized country and the largest oil, food and gas producer. Largest gold reserves. It will dominate the post dollar world.

[@AgentSmith911]

@@millevenon5853 Dream on. Nothing lasts forever. The Roman Empire had their day in the spot light as well.

[@xiule1211]

What will you get when you sell your crypto?

[@AgentSmith911]

@@xiule1211 I'll trade it with someone else that has gold or silver that they want to get rid of.

[@4rzaluz]

​@@millevenon5853Of only the people telling you that were not the same people making sure you fail to realize the US has nothing.. produces nothing yet it consumes at a pace 1200% higher that equivalent populations.