If you want to save 55 minutes: the real state of the American economy is that most people are not investors (the haves) benefiting from interest rate returns but are just consumers hit hard by inflation (the have nots) and AI is going to change jobs within 5 years but we have no clue what to do with those workers who'll be left behind. Oh yeah, and we're on a "sugar high" and the national debt is unsustainable. -You're welcome.
The gold price has increased to catch up the blow in inflation. The thing is Biden admin / policymakers are bad at securing the borders and instigating the unnecessary distress.
Actually a majority of people reportedly invest in stocks, but I take your point regarding people being hit hard by inflation. They’re just not mutually exclusive.
That's a great summation. I stopped about 9 minutes in because I just got tired of the brainless ignorance of this group. Those 9 minutes sounded like a pile of elitist crap merchants explaining how fantastic their lives are and they can't understand what the rest of us have been dumped with. When you can I highly recommend that you look up the report Bernie Sanders had prepared on family wealth. Its easy to find just google "congressional budget office family wealth" is the report with the number 57598. You can download the report as well as the Xcel spread sheet with the data. I'm an engineer, so crunching data is part of the job and we are better at it than any economist. Th really interesting part is to break down the changes from each 3 year step in that first graph because that really expresses how things are changing. It gets interesting when you compare the changes from 2007 to 2010 and then 2007 to 2019 because that tells you what the effect of the GFC was and how people recovered. Correcting for population growth. The Top 10% LOST 11.1% in the GFC but by 2019 were 21.7% up on their 2007 wealth so they had recovered well The Middle 40% LOST 13.7% in the GFC but by 2019 were 4.6% up on their 2007 wealth so they recovered sort of. The Bottom 50% LOST 49.5% in the GFC but by 2019 were STILL DOWN over 21% on their 2007 wealth. So the people who had CAUSED the GFC and lost the least in percentage terms got bailed out with $4 Trillion form Bush and another $4 Trillion from Obama and then proceed to make over $20 Trillion in the next decade and NOT PAID most of that $8 Trillion back are *now worth more than $80 Trillion and probably more than $90 Trillion.* Meanwhile the Middle 40% who paid for those bail outs have barely broken even and the Bottom 50% have not even recovered. And these people wonder why the other 90% of the population think they are disconnected that we hate them.
It's entirely investor focussed. They haven't realized that they're narrow minded, poorly grounded in reality, very short term oriented, and routinely in conflict with what's best for society, and their own organizations. The personality type of successful investors isn't good. It takes a certain type to collect paper rents and call it work.
Elite gaslighting. Prices up cumulatively 20% in 5 years My wages up 8% cumulatively in 5 years. Husband's pension isn't inflation adjusted. Thank God we're older asset holders. Nothing else works!
These panels would be much more useful and intereting if there were people who had contrarian views and different life experiences for a richer debate. Lots of people are struggling deeply and getting more and more dissatisfied with life and have been for decades…but as was pointed out, the averages belie that reality that’s affecting a larger and larger % of the population
This came across as tone deaf. These bankers have high level data on the economy but seemingly little understanding of the middle class. There was a lot of talk about productivity and how it’s stagnated, which is not entirely true, and no talk of the fact that minimum wage hasn’t increased in the US in decades.
It's no longer inflation. These idiots need to discuss corporate greedflation that went for many months after the inflammatory effects of the pandemic were over.
What are you talking about? Satisfactory economy, strong economy? According to Gallup Survey, American youth is the most unhappy youth in OECD countries, and USA Wellbeing is far behind the main European countries. USA economical policy is outdated. AI proliferation means that some percentage of people will be fired, and 50% of middle age and older will loose or reduce their skills. I can inform you that the same situation in USSR decreased our Gallup SWB from 6.5 point to 2.5 - 4 (civil war range). If course, this catastrophe can be mitigated, but will it be?
I listened to the intor and l am gone....these people are full of it.....not a true word about debt so far.... and the truth about failure to pay debt....they must have an agenda
If you’re trying to virtue signal you’re down with the everyman and his/her family struggles, you might consider assembling a panel that doesn’t consist of the CEO of Wells Fargo, the CEO of a nationwide brokerage and the guy in charge of investing Bloomberg’s billions. #justsaying And everyman votes.
Corporate profits 2019: $2,375 trillion 2022: $3,522 trillion. That is a 48+% increase. If prices were hiked to cover rising costs due to inflation, surely profits would have escalated less or not at all? The Inflation narrative was used as the ultimate 'reason' to raise prices. And yes, it helped fuel inflation.
On TH-cam, I see wave after wave of complaints by US consumers that the price *level* is far too high. That’s partly due to oligopolistic auto manufacturers - which Steve Rattner once helped to bail out - trying to gouge US carbuyers for all their worth. So why shouldn’t we expect the price level to correct down from this oligopolistic high?!
If you studied any actual science, you can see right away what the problem is with economics. It's the measurement problem. Because economics is based on monetary measurements, what you're describing is precisely the money. Anything else you're going to have to use different measurements. Is it possible to have money moving around a nation more efficiently and at greater scale, and have people's well being go down at the same time? It sure is! Investors don't care too much about being precise when describing what they're measuring. Unfortunately, too many economists take this path of declaring themselves non scientists. They offer prescription instead of description, and derive far too much from a set of narrowly defined measurements. They just want math for making money. My proposition: we need an economics grounded in science. The non scientists can ply their trade of financial advisors elsewhere. I don't care much about "the economy" because I'm actually scientifically literate, and I'm not a narrow minded investor that believes way too much in some fancy equations.
14:00 - "Gas prices (aka, energy... A key factor in the production of... Everything) are average when you adjust for inflation!" Proof that success is not always a good indication of intellect.
And you're proof that commenting does not come with the obligation of knowing what TF you're talking about or doing your research. But please, comment TF on.
We faced off severe attacks by long term partners de-coupling. Trump was right in the first time but Democrats were too in love with them. This issue took a long time to settle. We aren't desperate to settle for Cheap solution as it should be
A better proof is Climate Change. Climate Change is science fiction. Does anybody really believe that net zero energy is possible? I'd have to ask really? Net Zero? Describe for us what life without energy would be like. What will that do to our food supply?
I think we are all tired of hearing how we need more women and people of color doing xyz. that part was so inauthentic and lame. just hire good people and stop making things about your identity. jesus christ.
If you want to save 55 minutes: the real state of the American economy is that most people are not investors (the haves) benefiting from interest rate returns but are just consumers hit hard by inflation (the have nots) and AI is going to change jobs within 5 years but we have no clue what to do with those workers who'll be left behind. Oh yeah, and we're on a "sugar high" and the national debt is unsustainable. -You're welcome.
The gold price has increased to catch up the blow in inflation. The thing is Biden admin / policymakers are bad at securing the borders and instigating the unnecessary distress.
Don't come here stating the fact! Let's enjoy the Hollywood 😃
I think their experts... definition....EXPERT
EX ....hasbeen
SPERT...a drip under pressure
Actually a majority of people reportedly invest in stocks, but I take your point regarding people being hit hard by inflation. They’re just not mutually exclusive.
That's a great summation.
I stopped about 9 minutes in because I just got tired of the brainless ignorance of this group.
Those 9 minutes sounded like a pile of elitist crap merchants explaining how fantastic their lives are and they can't understand what the rest of us have been dumped with.
When you can I highly recommend that you look up the report Bernie Sanders had prepared on family wealth. Its easy to find just google "congressional budget office family wealth" is the report with the number 57598.
You can download the report as well as the Xcel spread sheet with the data.
I'm an engineer, so crunching data is part of the job and we are better at it than any economist.
Th really interesting part is to break down the changes from each 3 year step in that first graph because that really expresses how things are changing. It gets interesting when you compare the changes from 2007 to 2010 and then 2007 to 2019 because that tells you what the effect of the GFC was and how people recovered.
Correcting for population growth.
The Top 10% LOST 11.1% in the GFC but by 2019 were 21.7% up on their 2007 wealth so they had recovered well
The Middle 40% LOST 13.7% in the GFC but by 2019 were 4.6% up on their 2007 wealth so they recovered sort of.
The Bottom 50% LOST 49.5% in the GFC but by 2019 were STILL DOWN over 21% on their 2007 wealth.
So the people who had CAUSED the GFC and lost the least in percentage terms got bailed out with $4 Trillion form Bush and another $4 Trillion from Obama and then proceed to make over $20 Trillion in the next decade and NOT PAID most of that $8 Trillion back are *now worth more than $80 Trillion and probably more than $90 Trillion.*
Meanwhile the Middle 40% who paid for those bail outs have barely broken even and the Bottom 50% have not even recovered.
And these people wonder why the other 90% of the population think they are disconnected that we hate them.
Theses 3 people are so far above day to day life of normal people that they are clueless.
It's entirely investor focussed.
They haven't realized that they're narrow minded, poorly grounded in reality, very short term oriented, and routinely in conflict with what's best for society, and their own organizations.
The personality type of successful investors isn't good. It takes a certain type to collect paper rents and call it work.
Elite gaslighting. Prices up cumulatively 20% in 5 years
My wages up 8% cumulatively in 5 years. Husband's pension isn't inflation adjusted. Thank God we're older asset holders. Nothing else works!
How much have your assets escalated in value in the past 5 years would you estimate?
These panels would be much more useful and intereting if there were people who had contrarian views and different life experiences for a richer debate. Lots of people are struggling deeply and getting more and more dissatisfied with life and have been for decades…but as was pointed out, the averages belie that reality that’s affecting a larger and larger % of the population
They can't do that. It would take them out of their dream state in which the world is filled with roses and lollipops for everybody.
@@vickydavis4748so full of Dum-Dums 😅
The old saying "Where you stand depends on where you sit" seems to describe the current situation.
This came across as tone deaf. These bankers have high level data on the economy but seemingly little understanding of the middle class. There was a lot of talk about productivity and how it’s stagnated, which is not entirely true, and no talk of the fact that minimum wage hasn’t increased in the US in decades.
Nailed it!!
Wow they must have some really powerful mind altering substances in their system.
The economy great while everyone working class family and individual would disagree….. havs vs have nots
It's no longer inflation. These idiots need to discuss corporate greedflation that went for many months after the inflammatory effects of the pandemic were over.
What are you talking about? Satisfactory economy, strong economy? According to Gallup Survey, American youth is the most unhappy youth in OECD countries, and USA Wellbeing is far behind the main European countries. USA economical policy is outdated.
AI proliferation means that some percentage of people will be fired, and 50% of middle age and older will loose or reduce their skills.
I can inform you that the same situation in USSR decreased our Gallup SWB from 6.5 point to 2.5 - 4 (civil war range).
If course, this catastrophe can be mitigated, but will it be?
The rich are getting richer.
I listened to the intor and l am gone....these people are full of it.....not a true word about debt so far.... and the truth about failure to pay debt....they must have an agenda
If you’re trying to virtue signal you’re down with the everyman and his/her family struggles, you might consider assembling a panel that doesn’t consist of the CEO of Wells Fargo, the CEO of a nationwide brokerage and the guy in charge of investing Bloomberg’s billions. #justsaying
And everyman votes.
Corporate profits 2019: $2,375 trillion 2022: $3,522 trillion. That is a 48+% increase.
If prices were hiked to cover rising costs due to inflation, surely profits would have escalated less or not at all?
The Inflation narrative was used as the ultimate 'reason' to raise prices. And yes, it helped fuel inflation.
Where are the humans? "Take me to your leader".
These are evil.
On TH-cam, I see wave after wave of complaints by US consumers that the price *level* is far too high. That’s partly due to oligopolistic auto manufacturers - which Steve Rattner once helped to bail out - trying to gouge US carbuyers for all their worth. So why shouldn’t we expect the price level to correct down from this oligopolistic high?!
If you studied any actual science, you can see right away what the problem is with economics. It's the measurement problem.
Because economics is based on monetary measurements, what you're describing is precisely the money.
Anything else you're going to have to use different measurements.
Is it possible to have money moving around a nation more efficiently and at greater scale, and have people's well being go down at the same time?
It sure is!
Investors don't care too much about being precise when describing what they're measuring.
Unfortunately, too many economists take this path of declaring themselves non scientists.
They offer prescription instead of description, and derive far too much from a set of narrowly defined measurements.
They just want math for making money.
My proposition: we need an economics grounded in science. The non scientists can ply their trade of financial advisors elsewhere.
I don't care much about "the economy" because I'm actually scientifically literate, and I'm not a narrow minded investor that believes way too much in some fancy equations.
rich people talking about how good economy is (for them) 😂 it could be better ... for them ...
It is hard to have 3 non-sense ego-centric top business executives in one panel.
06/28/2024.
July 1th 2024 to August 6th 2024, 39 trillion economy history.
Artificial intelligence world.
It's an artificial reality. Only they are living in it.
You are talking like automatons. Who are yall talking to? We the people know how we are living. We are struggling. Can we say gaslighting?
The white haired guy is out of touch, things are too expensive while the CEO gets a multimillion dollar salary
14:00 - "Gas prices (aka, energy... A key factor in the production of... Everything) are average when you adjust for inflation!"
Proof that success is not always a good indication of intellect.
And you're proof that commenting does not come with the obligation of knowing what TF you're talking about or doing your research. But please, comment TF on.
I will indeed.
We faced off severe attacks by long term partners de-coupling. Trump was right in the first time but Democrats were too in love with them. This issue took a long time to settle. We aren't desperate to settle for Cheap solution as it should be
A better proof is Climate Change. Climate Change is science fiction. Does anybody really believe that net zero energy is possible? I'd have to ask really? Net Zero? Describe for us what life without energy would be like. What will that do to our food supply?
😂
I think we are all tired of hearing how we need more women and people of color doing xyz. that part was so inauthentic and lame. just hire good people and stop making things about your identity. jesus christ.