Went to Carl’s Jr today and ordered the cheapest sandwich on the menu. (Spicy chicken sandwich) What used to be 99 cents back in the day is now 4.00 plus tax, for a smaller sandwich. So yeah. We’re fucked. Without lube. The assault on the American consumer continues
@@paulward5491what a weird comment. Someone mentioned actual inflation and not just milk and eggs which supermarkets bragged were over charging on since Biden took office, and you freak out? When Trump entered office in 2017 we had dollar menus, in 2019 they went away for 2 for $4 menus.
Cannot give enough thanks for this conversation on Trump administration plans, macroeconomics, markets, national debt, interest rates, implications of risk for individuals and their retirement plans and savings, with author, global economic analyst and Financial Times associate editor Rana Foroohar. Amanpour & Co. & PBS do a great service informing us.
The one and only economist who dares mention "the real economy". And speak to the inherent class warfare that brought us to this state: "the economy", being Wall St's hyped sales to investors, vs "the real economy" as the public lives it.
You can be smart and happy these days. You just have to turn off your empathy and only give an eff about you and yours. It's sociopathic, but it works.
The problem is that the people who need to listen to this video will not. And if they did, they would not understand it. Then they would get angry and accuse the presenters of being "out of touch" elites. Sigh.
@@buzoff4642 yet here we are and those that need a better economy to pay bills have voted in a presidency that will run amok and make waste of said segment of the populace. Its all good and fine if you have an investment portfolio thats making money..no sane educated individual thinks that Trumpp is better for the economy and if you have drunk the kool aid and think I am wrong..look at the historical figures and tell me which kind of admin bolstered the economy and which kind didn't.
@@baruchevenezra7279 Why? To watch it fail? No economy can function when there are more business owners than employees, who make up the bulk of consumers. Soon, the majority of employees will be so poor they’re barely gonna be able to afford the bare essentials. Capitalism fails miserably in a subsistence- economy. Trump is gonna crater the economy… again. Guaranteed.
The majority of Americans are economically illiterate, they voted for Teagan, Bush and Trump twice and every time they increased the economic debt hugely, Bush presiding over the worst recession since the 1930s.Most people do not seem to understand that a tax cuts means LESS income for the country to spend on infrastructure, services and the citizens, the only people who did brilliantly during these three turkeys reigns were the wealthy and these were the very people who supported Trump financially during his last campaign. This guy is going to be the last straw for the USA, its downhill from here. I feel sorry for those who didn't want him as leader the rest deserve what they get. The problem is, it will also affect those of us living in other countries.
"Economic debt?" Do you mean the public sector debt or the private sector debt. Funny you should lament ignorance about econ. That the public sector debt is the private sector suprlus is how it should be and it's not a problem. No economist is really saying we need to buy back T-bills asap, and btw the threat of "Chinese bond vigilantes" has mysteriously evaporated. That's just balance sheet reconciliation.
I was a waiter and busboy while I went through college and I can assure you I didn’t pay a dime in taxes on my tips. So when I heard no taxes on tips, I just laughed
She thinks market cycles (i.e. recession, expansion) are an immaculate conception, which is an absurd position. There is no "we're overdue for a recession," as fiscal and fed policy are under our command. Clearly not a great economist.
I’ve worked for the same Wall Street firm since 1991. It only took Hoover’s threat of tariffs SEVEN MONTHS to start the Great Depression. Trump’s tariffs will be even WORSE.Look around your homes. Everything made in China will increase in price 60%. If you drive a Toyota, Nissan, Honda, Subaru, Hyundai, Kia, BMW, Benz, or Chrysler product (it's an Italian company now) the price will increase 20%. Even if the vehicle is ASSEMBLED here in the States, the PARTS are still imported. Other nations will do the same to us. Prepare for high unemployment by this time next year.
@@erickborling1302 And THAT was the most intelligent reply your minuscule intellect could muster? WHAT does being a trader have to do with VERIFIABLE FACTS? I've NEVER been a trader. I started out as a broker, and I've been an analyst since 2000. Traders get their lunch eaten.
The silver spoon draft dodger "trickle down" mafia Don will make "exceptions" with c c p for himself and politically connected friends. It'll be all "bend the knee or no trading with China for you!" Everyone else will pay put the nose with more "tariffs"
None of what she said is encouraging to someone who lost everything in the last recession, and never recovered from my business slow-down. At 70 y.o., already moving toward poverty, and the news about what a Trump economy will bring is terrifying.
Reagan tax-cuts were 1981. And the Reagan tax-rises were in 1983. Deficits grew and so taxes kept rising until Clinton's surplus. Trump tax-cuts added circa $6tn to the national debt in four years.
Yup, Clinton booted people off welfare, into a job market while kicking off import of a cheap foreign no-legal-rights illegal labor glut and visa indentured workers. Yeah, life was great under Clinton, because of revenue surplus, eh? And the $2.13 an hour for tipped workers for the past 30 years has served the stock market well.
Listening to this interview I get a sense that Trump does not have an economic policy for the whole of the USA,. What he seems to do is 1; attend to his needs, 2; support his sycophants, and finally, 3; bread crumbs to the rest.
For decades, the US has not had economic policy for the whole of the USA. It has had economic policy for benefit of the elite, Wall St. For decades, the US has not had economic policy "to promote the general welfare". The very purpose of governance, according to the declaration of independence.
@@buzoff4642 Read, get the facts, read the history of why the gap between rich and poor has been widening, figure it out for yourself why this trend under Trump will continue. Use your own mind.
They live it, she narrates it. Replay the video, stop at "the real economy", and give that a think. Then, when she mentions international investors, again, stop the video, and give that a think. Summarily, she's saying the public as workers have been bled for benefit of national/international "investors". And they're not actually "investing", so much as bleeding workers of value of their labor. Because industry is no longer investing, as in conducting R&D, aka innovating.
Great interview from Hari (as usual). This stuff should be required listening for all Americans. Generally seems like we’re screwed, hope all those Trump voters don’t have buyers remorse
Play it again, Sam. 30 years at $2.13 an hour is a US national entitlement, bilk the poor? Keep importing a wage theft labor glut for industry, because they're barely getting by on record profits? Play it again, Sam.
@Izzlemcphizzle I'm sure many crazy things will go on with conspiracy theorists running the country, and many will keep listening to the crazy, blissfully unaware of the damage, until and unless it effects them.
Really? Check her wiki not an economist BA in English. Dont get me wrong I've been reading The FT since I lived in the UK mid 1980's fatastic newspaper but she is NOT an economist.
@@steviegee7116 Name 1 degree'd economist who discerns "the real economy", the lived economy, from "the economy" as measure of the stock market. It may not want to be what you want to hear, but told we've a "good economy" has infuriated much of the public. Apparently, on this profession domain, economics, the BA education is devoid of "the real economy".
@@paulward5491 yeah, but first Trump’s gonna try to take credit for all the good Biden has done. It will carryover into his term for a little bit, before it all comes crashing down on him.
They'll conjure even more scapegoats. The "trickle down" "maga" Extremists are extremely dangerous cult like regimes of 1930s they have to conjure endless scapegoats
Well, catch 22 as a national plan. Ax SS was kicked off by Reagan, to push savings into Wall St 401Ks, a mighty unstable vehicle to place retirement monies, inherently unstable due to market up/down, while retirement is a fairly fixed phenomena due to aging. Wage suppression suppressed use of 401Ks as SS replacement. But then, a sharp turn to international "investors" made citizenry monies going to 401Ks less attractive to Wall St. Lose/lose for the public.
@@stevechance150 Nothing did more damage to the general welfare of the public than importing an illegal and quasi legal labor glut. It was the most aggressive and successful class warfare tactic, for purpose of wage suppression. And that was not solely Biden. And that didn't stop under Trump 1.0.
The question should be asked why Harris and her team weren't getting advice from economists like Ms. Foroohar to provide the electorate with financial education like this. I think most people would have understood that a great deal more than the price of eggs and gas was at stake.
When you're just getting by and suddenly can't afford rent and groceries, you really don’t care what some fancy economist has to say about it. You just want someone competent to come and fix it.
@@charlesndo3148 People compare how they lived during his first term and now. People feel they got impoverished in the last 3 years. Blue collar wages dropped. College graduates with STEM majors can't find jobs. Young people especially are suffering.
She said over and over at her rallies, etc. what she called the Trump Tax on goods. She told people that everything from shoes, phone, clothing, etc. would have this 10 to 20 percent tax hike. I heard her say this over and over! The problem is that many Trump supporters likely did not want to hear what she had to say. Their minds were made up , they are voting for him no matter what. People in the US are woefully misinformed and it is all about vibes.
@buzoff4642 Certainly not worse. Being a member of the EU does make member states immune against global economic trends. But perhaps it is just brown people you dislike? Of the boat variety specifically?
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Well worth the watch. The last several minutes that refer to how the proposed budget under Trump will hit everyone should be the lead portion since that boils down the 15 minute lead-in to what's really coming. What money for those that have it will be worth far less and buying anything will cost dearly. Happy New Year 2025!
What's coming is likely the general public won't be getting a free ride, off of cheap/free labor. If he does oust illegal and quasi-legal labor, yes indeed wage rates for those trying to live on min wage will rise. And if(?!?) Wall St follows its habit, that wage rise will be passed along. Again, Wall St in the US driver seat.
"efficiency" for profiteering. Not efficient use of fossil fuels, local labor, collecting tax revenue for imported goods, etc. If the plan is massive disruption of that, yielding living wage for the majority of citizens, bring it on.
His disruptive policies, yes. Carried out, pain for illegal labor, quasi-legal labor, investors and those who're laid off, as Wall St attempts to preserve profits with job cuts. But tight labor market makes wages rise, which has been subverted with imported labor glut, for decades. Globalism under meltdown, due to its fundamental flaw: by, for, of benefit of the elite.
Trump would just blame the democrats even though they have a trifecta. “The democrats are transgendering your dogs into cats and then eating them and that’s why gas prices are going up”
Americans are turkeys who always vote for thanksgiving in November. For decades now. But they really have no choice. Always the same dog and pony show.
That happened decades back. "Rising tides lifts all boats." It didn't. Perot's "giant sucking sound of jobs leaving the country" occurred. As the general public voted for Clinton, NAFTA. Which was the result, jobs left the country. But, now that it dropped the floor under the middle class, well, look who "woke" up. Ironically the "anti-woke".
Strains on social cohesion increase when share markets go up, and taxes for the rich come down, when already the US is deeply divided and destined to be more so. If those at the bottom fail to notice, then everything should be fine.
Rhetoric induced 2nd Great Depression, Trump doesn't understand happiness commodity, he'll attempt to slowly introduce costly reforms, but it will be falling all the while.
Thanks for having Rana on, I was looking forward to an interview like this with her! She's amazing and one of the best people to break things down right now My basic take is his economic policies, as much as they're policies, are obviously all emotionally motivated and 0% rational... He just likes the idea of tariffs because they're like a way to tell other countries "You're fired" and get the emotional high and power trip he's looking for. He's anti-union and likes deregulation and tax cuts for billionaires because he hates accountability and only knows how to live in a world where rich people get to do whatever they want. Etc, etc... If only all of that didn't have to have any real life effects for millions of people and the global economy...
There's nothing rational about a nation with $2.13 and $7.25 min wage, importing a labor glut. While eggs rise to $5 an hour. Emotion is your indignant entitlement, to benefit from that cheap labor. Daily. Every last bite of food, going into your mouth, 3 times a day. "The global economy", spreading that around the globe, having the same effect.
@@ChadHuffman-m3u For the Indonesian, Cambodian, who were bulldozed out of their villages for industrial palm plantations, that's not "Dark Ages"? For the Mexican, Chinese, etc. farmers, who were shut out of their markets, with US Ag glut dumping into it, to force them into industry's factories, that's not "Dark Ages"? For US and other west/westernized nations, who've imported a glut of 3rd world workers, who're preyed upon by wage-theft industry, that's not "Dark Ages"?
You didn’t believe what Trump was saying in his campaign rallies? One thing for sure is that the weakening economy will be more difficult to manage, than first time round for him. Time will tell.
He did. Deport. But I'll be surprised if that occurs, it's the primary source of Wall St's record profits from national labor. Destroy competition for local labor. Tariffs. But I'll be surprised if that occurs, it's the primary source of Wall St's record profits for goods production. Destroy competition for local goods.
Assessed, by his talking points, and, the fact US is overdue for market correction. And his talking points are disruption 1) labor market, 2) import product market, and 3) deregulation. Where's the "press Hit job"?
I agree that a downturn is likely. The upcoming administration is like giving a six-year-old a chemistry set for Christmas marked "for ages 12-14." Trump's emphasis is how he looks and what makes him shine.
You're describing the average economist, who's been bullhorning "good economy", when it's only been good for those living on unearned income, aka dividends and stock prices.
Healthy economy, but still running trillion dollar deficits. I expect the deficits to continue. No one but the big bankers seem to care about budget deficits as far as the eye can see.
Right now, there is a huge “push” to equity strip homes with equity lines and re-financing. This would have to be done extremely quick, as it would be fraud at this point, as asset inflation is in decline. Bank commercial mortgage portfolios are a huge drag on banks, and residential that isn’t premium high fico 30 yr fixed is deteriorating. (So, just Chase has the premiums)
Home equity? The sharp spike up is in the hands of two groups: investors, and those who cashed out of high cost areas into lesser cost areas. I don't see either going for equity loans. As for those living in spiked up areas, just a vicinity observation but, I think they're well aware for the most part of 2008 damage.
What makes people think that the ruling class of people on either side isnt going to reach into your wallets and take what they want??? Are people just willfully ignorant at this point? Which week was it that yall didnt have hundreds of dollars taken out of YOUR CHECK THAT YOU EARNED!!! to go to someone else??? Huh???
I am no expert, but what I have read and watched so far indicates brief continued run up in stock prices and then a market crash and great recession. Place social upheaval into this.
Transactional"" means profit and loss are the main focus. It also means the success or failure of the policies is judged based on short term basis. That is probably fine for a commercial concern because most don't last longer than 5 years. A country is, in theory, a perpetual going concern, ie, it is suppose to last many lifetimes. Some experts seem to really like the "transactional" attribute of Trump. I suppose he won't be around after his second term. Remember G.W.Bush? He et the economy free by cutting down red tapes and financial regulations. Guess what? The Global Financial Crisis (GFC) was during his reign. I rest my argument.
The discussion about just the economy is so stupid... This YES has a massive impact on economy, but however the point is missed that this has an insane effect on how the USA government will be ran. This BY FAR is a much more important issue. This is stuff alone aligns with sparking a civil war. This can't be understated. Theses topics have world wide reaching consequences. This is FAR beyond just trade, relationships, etc.. This can easily be the destabilizing of the entire USA. This must be taken VERY seriously by all.
"This BY FAR is a much more important issue." To you. Dramatic things come about, when people can't afford food, which apparently isn't you, which much of the Ds have ignored.
In conclusion: we're fucked.
The Onion again had it first.
Went to Carl’s Jr today and ordered the cheapest sandwich on the menu.
(Spicy chicken sandwich)
What used to be 99 cents back in the day is now 4.00 plus tax, for a smaller sandwich. So yeah. We’re fucked. Without lube. The assault on the American consumer continues
@casey896 the president should be put in charge of pricing sandwiches?
cope
@@paulward5491what a weird comment. Someone mentioned actual inflation and not just milk and eggs which supermarkets bragged were over charging on since Biden took office, and you freak out?
When Trump entered office in 2017 we had dollar menus, in 2019 they went away for 2 for $4 menus.
Cannot give enough thanks for this conversation on Trump administration plans, macroeconomics, markets, national debt, interest rates, implications of risk for individuals and their retirement plans and savings, with author, global economic analyst and Financial Times associate editor Rana Foroohar.
Amanpour & Co. & PBS do a great service informing us.
The one and only economist who dares mention "the real economy".
And speak to the inherent class warfare that brought us to this state: "the economy", being Wall St's hyped sales to investors, vs "the real economy" as the public lives it.
The former president was the king of bankruptcy. This is what th U S economy has to look forward to.
True. But I won't be shedding tears for the stock holders.
I believe Republicans want the deficit to get so high, Social Security/Medicare simply cannot be saved.
If you follow his tips on buying houses, you would have been a billionaire.
The economy under Trump’s first term was a juggernaut, fact check it?!
Are you saying he is an unsuccessful business man?
After trump’s McDonalds photo op, someone asked him about raising minimum wage, he ignored the question!
What do you think exporting the imported labor glut will do to min wage?
how come i did not hear that party? you make it up.
I wish I wasn’t smart. I would be happy and stupid
Yeah. All of these dire consequences laid out … I wish I could look away.
You can be smart and happy these days. You just have to turn off your empathy and only give an eff about you and yours. It's sociopathic, but it works.
I mean you've been wrong your whole life. Maybe you aren't as smart as you think.
@ Who are you?
@@mikewilliams6025 Wanna make a legit bet? Notarized and legally binding? Step TF up, Pippy.
The problem is that the people who need to listen to this video will not. And if they did, they would not understand it. Then they would get angry and accuse the presenters of being "out of touch" elites. Sigh.
Yep
True story. They just get on here, proving to us the level of their stupidity.
Bizarre presumption.
@@buzoff4642 yet here we are and those that need a better economy to pay bills have voted in a presidency that will run amok and make waste of said segment of the populace. Its all good and fine if you have an investment portfolio thats making money..no sane educated individual thinks that Trumpp is better for the economy and if you have drunk the kool aid and think I am wrong..look at the historical figures and tell me which kind of admin bolstered the economy and which kind didn't.
Brilliant woman.
Best analysis I've heard. Please make her a regular guest!
Classic case of the rich get richer, and the poor get poorer!
Stop being a victim and start a business
@@baruchevenezra7279Yeah let's all start a business so no one ever has to work for anyone else.... Oh wait 😂😂
@@baruchevenezra7279 Why? To watch it fail? No economy can function when there are more business owners than employees, who make up the bulk of consumers. Soon, the majority of employees will be so poor they’re barely gonna be able to afford the bare essentials. Capitalism fails miserably in a subsistence- economy. Trump is gonna crater the economy… again. Guaranteed.
@baruchevenezra7279 listen to the interview.
The poor are poor for a reason.
The majority of Americans are economically illiterate, they voted for Teagan, Bush and Trump twice and every time they increased the economic debt hugely, Bush presiding over the worst recession since the 1930s.Most people do not seem to understand that a tax cuts means LESS income for the country to spend on infrastructure, services and the citizens, the only people who did brilliantly during these three turkeys reigns were the wealthy and these were the very people who supported Trump financially during his last campaign. This guy is going to be the last straw for the USA, its downhill from here. I feel sorry for those who didn't want him as leader the rest deserve what they get. The problem is, it will also affect those of us living in other countries.
"Economic debt?" Do you mean the public sector debt or the private sector debt. Funny you should lament ignorance about econ. That the public sector debt is the private sector suprlus is how it should be and it's not a problem. No economist is really saying we need to buy back T-bills asap, and btw the threat of "Chinese bond vigilantes" has mysteriously evaporated. That's just balance sheet reconciliation.
I love how his response to you, subtly changes the subject, without addressing the statement
I’m sure the MAGAs who continually claimed to pollsters that the economy was their top issue will all be eagerly clicking on this video. Right?
Yes. True
Yes. The one and only economist who dares mention "the real economy".
If everything goes bad 4years later the goofy Trump lovers will still be blaming Biden 🙄
Love your show always classy and professional ❤
I was a waiter and busboy while I went through college and I can assure you I didn’t pay a dime in taxes on my tips. So when I heard no taxes on tips, I just laughed
And overtime. Ask cops or union workers how much they make in overtime.
That ended in 1985, sir.
@@cleroyster2610 people still leave cash tips
@@fibhufky overtime isn’t a tip.
@@davidhaynes3126 He said tips and overtime won't be taxed. We'll see how that goes.
Rana Foroohar is underrated. Her books are great. Try her book "Homecoming"
She thinks market cycles (i.e. recession, expansion) are an immaculate conception, which is an absurd position. There is no "we're overdue for a recession," as fiscal and fed policy are under our command. Clearly not a great economist.
@@erickborling1302 that must be why she’s being interviewed and you’re not
I’ve worked for the same Wall Street firm since 1991. It only took Hoover’s threat of tariffs SEVEN MONTHS to start the Great Depression. Trump’s tariffs will be even WORSE.Look around your homes. Everything made in China will increase in price 60%. If you drive a Toyota, Nissan, Honda, Subaru, Hyundai, Kia, BMW, Benz, or Chrysler product (it's an Italian company now) the price will increase 20%. Even if the vehicle is ASSEMBLED here in the States, the PARTS are still imported. Other nations will do the same to us. Prepare for high unemployment by this time next year.
You haven't been a Wall Street trader for 33 years.
@@erickborling1302 nice retort
@@erickborling1302 And THAT was the most intelligent reply your minuscule intellect could muster? WHAT does being a trader have to do with VERIFIABLE FACTS? I've NEVER been a trader. I started out as a broker, and I've been an analyst since 2000. Traders get their lunch eaten.
@@ChadHuffman-m3u Evidently you like abject ignorance.
Entirely possible, while globalism is slow death, designed to enrich "investors". Who aren't actual investors.
Trump’s Made in China merch will cost more due to tariffs.
Red hats excluded. For National Security reasons.
I've already stocked up on expensive stuff from China I will need.
The silver spoon draft dodger "trickle down" mafia Don will make "exceptions" with c c p for himself and politically connected friends. It'll be all "bend the knee or no trading with China for you!" Everyone else will pay put the nose with more "tariffs"
None of what she said is encouraging to someone who lost everything in the last recession, and never
recovered from my business slow-down.
At 70 y.o., already moving toward poverty, and the news about what a Trump
economy will bring is
terrifying.
Yep. I'm 75. Been watching this for decades. Corporate government. Corporate puppets. Global Ponzi scheme. What could wrong?
You are not alone in this experience and fear.
Reagan tax-cuts were 1981. And the Reagan tax-rises were in 1983. Deficits grew and so taxes kept rising until Clinton's surplus. Trump tax-cuts added circa $6tn to the national debt in four years.
Reagan tax cuts were wonderful, it increased my take home pay, less federal withholding on my paycheck.
Clinton surplus led to a recession. National "debt" is a nonissue.
It’s not coincidence that the period of time referred to as the great prosperity ended when Reagan took office.
Reagan is solely responsible for the entire mess that we’re in today. The amazing thing is, Trump is going to be twice as bad for America.
Yup, Clinton booted people off welfare, into a job market while kicking off import of a cheap foreign no-legal-rights illegal labor glut and visa indentured workers.
Yeah, life was great under Clinton, because of revenue surplus, eh?
And the $2.13 an hour for tipped workers for the past 30 years has served the stock market well.
Listening to this interview I get a sense that Trump does not have an economic policy for the whole of the USA,. What he seems to do is 1; attend to his needs, 2; support his sycophants, and finally, 3; bread crumbs to the rest.
Yep
For decades, the US has not had economic policy for the whole of the USA. It has had economic policy for benefit of the elite, Wall St.
For decades, the US has not had economic policy "to promote the general welfare". The very purpose of governance, according to the declaration of independence.
great interview and this lady is well informed and great at articulating information.
The rich will get richer and the poor, many of whom voted for Trump, will see the gap widen.
Widen because of ...?
@@buzoff4642 Read, get the facts, read the history of why the gap between rich and poor has been widening, figure it out for yourself why this trend under Trump will continue. Use your own mind.
She is so fundamental, pragmatic, and intelligent in her explanations.
How do you defend the absurd idea that recession/expansion is an immaculate conception and recession, like a volcanic eruption, is "overdue?"
@@erickborling1302 She did explain it. Hyped stock market is due for a "market correction".
Look up history on the tulip craze.
Excellent conversation. If only the folks that voted for the president elect would listen.
They live it, she narrates it. Replay the video, stop at "the real economy", and give that a think. Then, when she mentions international investors, again, stop the video, and give that a think.
Summarily, she's saying the public as workers have been bled for benefit of national/international "investors". And they're not actually "investing", so much as bleeding workers of value of their labor. Because industry is no longer investing, as in conducting R&D, aka innovating.
This will be like giving your 2 year old responsibility for the checking account! But in trump's case it is with the house money not his own.
The house money is money owned by the public interest, and no one other than that.
That perfectly describes what handing over the economy to shareholder interests has done.
Along with the government reigns.
Play the video again.
You forget how foreign investment and foreign tourism will also go down to about zero in short order.
Which would be welcome.
Great interview from Hari (as usual). This stuff should be required listening for all Americans. Generally seems like we’re screwed, hope all those Trump voters don’t have buyers remorse
Trump supporters are to dumb to know who’s screwing them!
I hope they do have buyers' remorse.
Play it again, Sam.
30 years at $2.13 an hour is a US national entitlement, bilk the poor? Keep importing a wage theft labor glut for industry, because they're barely getting by on record profits?
Play it again, Sam.
@@lauracohen4914 I was being sarcastic 😂 I hope they do too. As they say, “play stupid games, win stupid prizes”
@Izzlemcphizzle I'm sure many crazy things will go on with conspiracy theorists running the country, and many will keep listening to the crazy, blissfully unaware of the damage, until and unless it effects them.
Forouhar is one of the best economists I know.
Really? Check her wiki not an economist BA in English. Dont get me wrong I've been reading The FT since I lived in the UK mid 1980's fatastic newspaper but she is NOT an economist.
@@steviegee7116 Her commentary indicates she's marginally credible even though she has some valid points.
@@steviegee7116 Name 1 degree'd economist who discerns "the real economy", the lived economy, from "the economy" as measure of the stock market.
It may not want to be what you want to hear, but told we've a "good economy" has infuriated much of the public.
Apparently, on this profession domain, economics, the BA education is devoid of "the real economy".
Lets see who the Trumpers blame everything on this time when shit hits the fan.
The Biden administration.
@@paulward5491 yeah, but first Trump’s gonna try to take credit for all the good Biden has done. It will carryover into his term for a little bit, before it all comes crashing down on him.
It's already hit the fan, for Trumpers.
The likes of you haven't paid any attention to their demise.
Hence, Trump.
Pick up a mirror.
They'll conjure even more scapegoats. The "trickle down" "maga" Extremists are extremely dangerous cult like regimes of 1930s they have to conjure endless scapegoats
We are cooked
Trump will balance the checkbook by cutting out Social Security and Medicare.
Sorry about that.
And Trump will blame Biden.
Well, catch 22 as a national plan.
Ax SS was kicked off by Reagan, to push savings into Wall St 401Ks, a mighty unstable vehicle to place retirement monies, inherently unstable due to market up/down, while retirement is a fairly fixed phenomena due to aging. Wage suppression suppressed use of 401Ks as SS replacement.
But then, a sharp turn to international "investors" made citizenry monies going to 401Ks less attractive to Wall St.
Lose/lose for the public.
@@stevechance150 Nothing did more damage to the general welfare of the public than importing an illegal and quasi legal labor glut.
It was the most aggressive and successful class warfare tactic, for purpose of wage suppression.
And that was not solely Biden. And that didn't stop under Trump 1.0.
Yesterday was my first time streaming Amanpour and Co. via PBS App on my home theatre.
This isn't facebook.
I loved Rana's book-- sharp lady.
Such a knowledgeable thoughtful and humanist guest.
The question should be asked why Harris and her team weren't getting advice from economists like Ms. Foroohar to provide the electorate with financial education like this. I think most people would have understood that a great deal more than the price of eggs and gas was at stake.
When you're just getting by and suddenly can't afford rent and groceries, you really don’t care what some fancy economist has to say about it. You just want someone competent to come and fix it.
Simple. Voters dont think like that
@@fibhufky who is competent? Trump?
@@charlesndo3148 People compare how they lived during his first term and now. People feel they got impoverished in the last 3 years. Blue collar wages dropped. College graduates with STEM majors can't find jobs. Young people especially are suffering.
She said over and over at her rallies, etc. what she called the Trump Tax on goods. She told people that everything from shoes, phone, clothing, etc. would have this 10 to 20 percent tax hike. I heard her say this over and over! The problem is that many Trump supporters likely did not want to hear what she had to say. Their minds were made up , they are voting for him no matter what. People in the US are woefully misinformed and it is all about vibes.
JOBS for ALL. American AND immigrants, they built our country. BRING THEM in, let them pay taxes, let them produce goods and services,
Castles in the air.
Very interesting and relevant topic! Looking forward to your next video! 😘🍭
Why should we listen to her? She knows what she is talking about. In the Brexit debate, we never listened to experts and that turned out great!
Pre Brexit was going great?
@buzoff4642 Certainly not worse. Being a member of the EU does make member states immune against global economic trends. But perhaps it is just brown people you dislike? Of the boat variety specifically?
Excellent analysis. Thank you Rana Foroohar.
Great insights!
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I don't really blame people who panic. Lack of
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Excellent conversation. Richly informative.
What a clever lady
Well worth the watch. The last several minutes that refer to how the proposed budget under Trump will hit everyone should be the lead portion since that boils down the 15 minute lead-in to what's really coming. What money for those that have it will be worth far less and buying anything will cost dearly. Happy New Year 2025!
True
What's coming is likely the general public won't be getting a free ride, off of cheap/free labor.
If he does oust illegal and quasi-legal labor, yes indeed wage rates for those trying to live on min wage will rise. And if(?!?) Wall St follows its habit, that wage rise will be passed along. Again, Wall St in the US driver seat.
Breaking the supply chain immediately reduces efficiency and creates inflation.
"efficiency" for profiteering. Not efficient use of fossil fuels, local labor, collecting tax revenue for imported goods, etc.
If the plan is massive disruption of that, yielding living wage for the majority of citizens, bring it on.
@@buzoff4642 How long have you been on minimum wage ?
@@sarahann530 It's not about me.
It will mean pain.
His disruptive policies, yes. Carried out, pain for illegal labor, quasi-legal labor, investors and those who're laid off, as Wall St attempts to preserve profits with job cuts.
But tight labor market makes wages rise, which has been subverted with imported labor glut, for decades.
Globalism under meltdown, due to its fundamental flaw: by, for, of benefit of the elite.
How many times have we watched the stock market crash and a depressed economy result? Get ready, it's coming!
Good. A reality check on this global Ponzi scheme is way overdue
Yes. As she said, it's overdue. The embedded Max Profit cycle. Hyper inflate on sugar water, then bust. Rinse (launder/deflect cause), repeat.
A recession under Trump sounds awful
Trump would just blame the democrats even though they have a trifecta. “The democrats are transgendering your dogs into cats and then eating them and that’s why gas prices are going up”
I'm sorry I don't understand why people voted Trump.
SCOTUS
Americans are turkeys who always vote for thanksgiving in November. For decades now. But they really have no choice. Always the same dog and pony show.
@ey67 It's perplexing.
Racism and Good old Propaganda plus a touch of idiocy!😂
I couldn't afford another four years of this.
prayers remove Donald Trump now 😊😊
It's President Elect not President.
That's what I said. I'd prefer neither, however.
DonnieDim has ffed this up big time! Down hill from here!
We are ******!
I am comforted by the fact that economist, such as this lady, are always wrong! Politics aside, don't bet against America. We will do just fine.
As long as wealthy people are winning, I don't care what happens to the little people. Their lives don't matter.
"the real economy", when do you _ever_ hear that in a conversation about the economy?
Has stupidity in America crossed the Rubicon"
That happened decades back.
"Rising tides lifts all boats." It didn't.
Perot's "giant sucking sound of jobs leaving the country" occurred. As the general public voted for Clinton, NAFTA. Which was the result, jobs left the country.
But, now that it dropped the floor under the middle class, well, look who "woke" up. Ironically the "anti-woke".
Strains on social cohesion increase when share markets go up, and taxes for the rich come down, when already the US is deeply divided and destined to be more so. If those at the bottom fail to notice, then everything should be fine.
Rhetoric induced 2nd Great Depression, Trump doesn't understand happiness commodity, he'll attempt to slowly introduce costly reforms, but it will be falling all the while.
Thanks for having Rana on, I was looking forward to an interview like this with her! She's amazing and one of the best people to break things down right now
My basic take is his economic policies, as much as they're policies, are obviously all emotionally motivated and 0% rational... He just likes the idea of tariffs because they're like a way to tell other countries "You're fired" and get the emotional high and power trip he's looking for. He's anti-union and likes deregulation and tax cuts for billionaires because he hates accountability and only knows how to live in a world where rich people get to do whatever they want. Etc, etc... If only all of that didn't have to have any real life effects for millions of people and the global economy...
There's nothing rational about a nation with $2.13 and $7.25 min wage, importing a labor glut. While eggs rise to $5 an hour.
Emotion is your indignant entitlement, to benefit from that cheap labor. Daily. Every last bite of food, going into your mouth, 3 times a day.
"The global economy", spreading that around the globe, having the same effect.
Excellent discussion
they all knew all of this..all of them left right up down in out....this entire system is based on power, pretense, prejudice.
Great Depression II,
and decades of stagflation.
No tax on tips - it's a means provided by Trump/Musk to restructure the higher end corporate pays; that's nothing to do with low paid labor jobs
Agreed. C Suite bonuses are going to be called ‘tips’.
It is an attempt to pretense, that $2.13 an hour is livable and should be preserved. Because naked, $2.13 an hour is shameless profiteering.
Thank you
Let’s back up….what economic plan? Seriously.
Labor market. Offload the profiteering sugar water: imported labor glut, so industry doesn't have to compete for workers.
US' ridiculous min wage.
Last one to leave, turn out the lights. America headed into the Dark Ages.
Stop that nonsense. You are wrong, wrong, wrong.
The world is about to enter the dark ages
@@ChadHuffman-m3u For the Indonesian, Cambodian, who were bulldozed out of their villages for industrial palm plantations, that's not "Dark Ages"?
For the Mexican, Chinese, etc. farmers, who were shut out of their markets, with US Ag glut dumping into it, to force them into industry's factories, that's not "Dark Ages"?
For US and other west/westernized nations, who've imported a glut of 3rd world workers, who're preyed upon by wage-theft industry, that's not "Dark Ages"?
Great video! I really liked your drawing technique. How long have you been practicing this art? 🍭💝
very useful exhange. sobering.
Great podcast thank you
Outstanding commentary!
Can’t be worse than what we’ve had for the last 4 years
Oh yes, it can be a lot worse.
Strap in for some mighty turbulence.
The only question will be what it looks like when the dust settles.
@
The Biden-Harris administration has left a mess, they’re not going to clean it up, but it has to be cleaned up.
The Biden-Harris administration has left a mess, it’s got to be cleaned up!
Kiss your 401 k good bye it’s about to get Trumped. The trump train is about to crash and take us with it .
There is no broad "us", in 401K market.
it will be an expensive lesson if Trump impose tariffs
He’s full of sh I t
I watch any video with this excellent commentator
reality check time
No-one really knows so best just wait and see.
For most Americans they will no longer have a need for a wallet .
The economy is thriving....
Where are all the MAGA comments? Amazing how reality discussions cause them to scurry away.
...after the Casinos.... what else could go wrong??? we picked it! let s roll with it... see how far down the pit we go
Great analysis! Except, Trump hasn’t really told us what he’s actually going to do.
You didn’t believe what Trump was saying in his campaign rallies? One thing for sure is that the weakening economy will be more difficult to manage, than first time round for him. Time will tell.
Everything she cites either came directly out of Trump’s mouth or was a promise in Project 2025.
@catc8927 Trump is not affiliated with P2025, as I understand.
He did.
Deport. But I'll be surprised if that occurs, it's the primary source of Wall St's record profits from national labor. Destroy competition for local labor.
Tariffs. But I'll be surprised if that occurs, it's the primary source of Wall St's record profits for goods production. Destroy competition for local goods.
These people are complete bubble, living clowns. The average price of a car is nearly $50,000.
Who's "these people"? She did say "the economy" reflects the stock market, and not "the real economy", as in the lived economy by those on wages.
doesn't even have a plan ffs.
Where were all the economists when we afford groceries during the Biden administration
Selective hearing here, any disagreement remarks are deleted.
Some valid points but a press Hit job on trump.
Assessed, by his talking points, and, the fact US is overdue for market correction.
And his talking points are disruption 1) labor market, 2) import product market, and 3) deregulation.
Where's the "press Hit job"?
I agree that a downturn is likely. The upcoming administration is like giving a six-year-old a chemistry set for Christmas marked "for ages 12-14." Trump's emphasis is how he looks and what makes him shine.
You're describing the average economist, who's been bullhorning "good economy", when it's only been good for those living on unearned income, aka dividends and stock prices.
Healthy economy, but still running trillion dollar deficits. I expect the deficits to continue. No one but the big bankers seem to care about budget deficits as far as the eye can see.
There's nothing healthy about it. "sugar water" as she puts it.
Wage theft, as the public experiences it.
Right now, there is a huge “push” to equity strip homes with equity lines and re-financing. This would have to be done extremely quick, as it would be fraud at this point, as asset inflation is in decline. Bank commercial mortgage portfolios are a huge drag on banks, and residential that isn’t premium high fico 30 yr fixed is deteriorating. (So, just Chase has the premiums)
Home equity?
The sharp spike up is in the hands of two groups: investors, and those who cashed out of high cost areas into lesser cost areas. I don't see either going for equity loans.
As for those living in spiked up areas, just a vicinity observation but, I think they're well aware for the most part of 2008 damage.
What makes people think that the ruling class of people on either side isnt going to reach into your wallets and take what they want??? Are people just willfully ignorant at this point? Which week was it that yall didnt have hundreds of dollars taken out of YOUR CHECK THAT YOU EARNED!!! to go to someone else??? Huh???
Especially since the Supply Chain has been slowed down due to CLIMATE CHANGE! It will be Updated for Years 😢 A definite change in the Supply Chain 😢
It's hard to predict. We've never elected a demented, lunatic dictator before.
I am no expert, but what I have read and watched so far indicates brief continued run up in stock prices and then a market crash and great recession. Place social upheaval into this.
I’m a Clergyman who regularly performs male Circumcisions and I don’t earn a wage - I collect Tips.
I appreciate the No Tax on Tips DJT Policy!
Silly Rabbi.
Bahaha!!
Transactional"" means profit and loss are the main focus. It also means the success or failure of the policies is judged based on short term basis. That is probably fine for a commercial concern because most don't last longer than 5 years. A country is, in theory, a perpetual going concern, ie, it is suppose to last many lifetimes. Some experts seem to really like the "transactional" attribute of Trump. I suppose he won't be around after his second term.
Remember G.W.Bush? He et the economy free by cutting down red tapes and financial regulations. Guess what? The Global Financial Crisis (GFC) was during his reign. I rest my argument.
“Panem today, Panem tomorrow, Panem forever”
The last people i will listen to about trumps policies are the media.
WALLETS? WALLETS WILL BE A THING OF THE PAST . YOU PUT MOSTLY CASH AND CREDIT CARDS IN WALLETS. SO NO CASH AND NO CREDIT CARDS NO WALLET. 😂😂😂
For the public this is “TL:Did not watch”.
The discussion about just the economy is so stupid... This YES has a massive impact on economy, but however the point is missed that this has an insane effect on how the USA government will be ran. This BY FAR is a much more important issue. This is stuff alone aligns with sparking a civil war. This can't be understated. Theses topics have world wide reaching consequences. This is FAR beyond just trade, relationships, etc.. This can easily be the destabilizing of the entire USA. This must be taken VERY seriously by all.
"This BY FAR is a much more important issue."
To you.
Dramatic things come about, when people can't afford food, which apparently isn't you, which much of the Ds have ignored.