Too-High Cost Of Living Is Destroying Consumer Confidence | Joanne Hsu
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- เผยแพร่เมื่อ 29 ส.ค. 2024
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If you listen to the politicians and the headlines, you'll hear a lot of talk about the "strong consumer" who is keeping the economy happily chugging along.
But when we hear from actual consumers themselves, we hear a very different story. The majority of households are struggling under the surge in their cost of living post-COVID. Many express despair that the American dream is now beyond their reach.
For a detailed dive into this critical topic, we're fortunate today to speak with Joanne Hsu, director of the widely-followed University of Michigan's consumer sentiment survey.
The UMich data indeed shows that a growing majority of Americans are giving up hope they'll ever be able to afford a middle class lifestyle.
#consumersentiment #consumerconfidence #costofliving
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The new American dream is to get out of the United States. That's my plan, anyway.
That's my plan too.
Thailand is 2/3rds the cost with a very favorable exchange rate. 😊
I tried that, and it won't work how you think. :(
irs will still follow you
@@sulittipid9945 No they won't and cannot do anything whatsover.....
Asking people with jobs how they feel about the economy is different from asking people without jobs.
A job? Why would somebody want to be dumb in life and have a job? What would be the point of that? To make somebody else rich?
Exchanging 5 days, and in return your employer will graciously give you 2 free days of freedom (maybe) is a terrible return for your time.
@@OilTrading If you were to start a business how would you treat your employees?
@@PlagueGuy Having to only work 5 days out of 7 to get to enjoy all the fun and beautiful things in life is a good deal. It's much better than going back to a life that my parents had to live. My mother had to chase chickens around the yard and chop off their heads to help feed her brothers and sisters. I'll take the 5 days of work. It's all perspective!
@@TheBrownDoggie I'd give them a piece of the action of the profit.....
Trust me bro our new data collection method will not be skewed at all and how the consumer feels will be corrected appropriately 😂
LOL !!! But,.. So,.. TRUE !
I tend to agree. People are angry and show it online.
Just trust the data 😆
@@difigfs Oh I can trust data. Just not certain interpretations of it :D
@@jonEmontanaBecause they go online to vent. Most of it a result of their own frustrations and inadequacy
I make 115k and have no life anymore and do nothing to save money and I’m barely saving besides maxing my 401k. A few years ago I saved almost 20k in addition to my 401k per year this year is halfway over and I’ve only saved 4k….cost of living in creeping up. And I’m getting sick of sitting around waiting for something to change
Just wait until you find out how much your car insurance is going to go up!!
Maxing 401K at 115K isn't that bad, seems to me.
Feeling the pain…and I do not make anywhere close to what you do so that can give you some perspective hopefully
Be sure to diversify. When the market crashes, many 401K savings are going to be halved.
Good job! Keep going!
The people most being destroyed in this economic malaise
are the same people who will vote for themselves more of
the same and are left wondering why.
Now you know why The Founders wanted the voting pool to be limited.
It makes sense that the rental property owners are quite enthused by the spike in rents. The renters are the other hand are super squeezed and pessimistic about their futures.
The wealth gap grows.
JEZZ everyone I knew has lived fine with families and relatives.. poor property hoarders
Renters should lock arms together and go on strike.
Or a renters union where the union bargains with the landlords on behalf of responsible renters. Make it less attractive to hoard SFHs
Then you end up with NY and CA, with fewer rentals, and high prices. Such price controls always end badly
Or you can just look at the landlords who could not kick out problem renters due to the No Eviction Mandate for more than a year due to Covid. Why don't you whiners come in our and I will show you how a tenant moved from a paying tenant to a party on Cheech and Chong fentanyl addict just because the Covid mandates let him act this way
@@MaddieBrI’m sure NY prices will adjust due to airb&b’s having to shut down.
I am not a consumer. I am a person.
You are a person who consumes.
Job openings are ghost postings
legally required. aa laws etc.
I haven't believed the jobs number for over a year now.
I agree. As a recruiter, I can confirm
“A society that puts equality - in the sense of equality of outcome - ahead of freedom will end up with neither equality nor freedom. The use of force to achieve equality will destroy freedom, and the force, introduced for good purposes, will end up in the hands of people who use it to promote their own interests.”
-Milton Friedman
The perceived equality of the free market and neo liberal economics is good example of just such an outcome.
Just meaningless words, my friend. It's much more relevant to look at Friedman's actions, specifically the failed neoliberal policies of the past 40 years based on him. You know the ones. They've resulted in the first generation since the start of the industrial revolution to be worse off than their parent's generation.
Too true. Smaller government is something for which we should strive.
Appreciate the variety of views you bring to your channel, even if they provide nothing of value other than to confirm that the policy shapers are indeed always the kind of people who think more government is the solution to the problems government has created
The young people worry about getting ahead and achieving the "American dream" while those of us nearer retirement worry about ever being able to retire without ending up living on the street.
If you're a baby boomer and worried about retirement, you f-ed up. That generation had access to massive amounts of wealth. If they didn't save, then they were lazy. I'll await the sob story response.
All Americans will be homeless very soon.....And if you think that's bad it's going to be a thousand times worse than that. Tip: Make sure you love the Military, because very soon they will be your mommy and daddy and give to you your food....
You think it's bad now.. ? We're $35 trillion in debt and adding another trillion every 100 days...... lol .. There is no way out of this debt spiral......
Debt doesn't matter.
@@SomeUserNameBlahBlahsure... massive government deficit spending doesn't cause inflation or help devalue the currency...
@@logantcooper6 Can't reverse it and can't do anything about it. Enjoy the ride.
@@logantcooper6 It helps create "liquidity" for the market. Think about it. What would you use if there weren't any dollars? You're going to pay a metal smith to slice your silver coins up? Does your town even have a metal smith? Seashells? Gold dust?
There is a way out of this "debt spiral." However, it requires financially literate politicians who have an ability to do high-school level math, and or own a calculator.
In short we need to cut back on needless spending that we can't afford. But asking that from a career politician might as well be asking for them to eat glass.
in Europe college is mostly free and they the same problems as we do only worse. I don't see why she thinks reducing the cost of higher ed would solve anything.
The first answer to the question on wealth inequality was: "Yes there is wealth inequality but this is nothing new." Then: "the economy is fine as long as the upper class keeps spending" HM, Nothing to see here, move on. How should i understand such answers? If they have no bread let them eat cake?
I can tell that she is highly influenced by living in Uber-liberal Ann Arbor. From trying to paint a rosey picture of spending to being concerned about cost of higher education. She’s a professor and wants government to pay her a bigger salary but not charge the students.
Demented 😵💫
It's funny that if that's true she would even want more money to try and keep up her lifestyle
She’s well spoken but I don’t believe a word.
I would be incredibly interested in knowing what career fields, industries, and level of job (worker, mid-level manager, senior manager, etc.) they are polling in regards to strong outlook on job stability. For example, if a good portion of these people taking polls are government employees, that will greatly skew the data since it’s virtually impossible to lose a Gov job unless you do something incredibly egregious.
I do agree with her ideas about college tuition. As soon as the government got involved with loans the prices exploded exponentially and it hamstrings every graduate so much more than any previous generation.
Second year our family has not been able to afford for our kids a Summer beach vacation to Florida.
Four years ago we ate out twice a week and enjoyed vacation trips but we can't budget for it anymore.
Do a car road trip and camping instead- bring a cooler to store food. Time to get creative!!
She is living in wonderland and not in our reality
Believe me no one is living in your reality! Probably morning but junk in there.
In general she is talking about making government bigger to solve our problems. It is big government that caused the problems.
Ding ding ding winner 🏆
Reckless government and a voting public that allows it. Our country can certainly support some government programs. They just have to be run efficiently
I didn't get that from what she said. I heard her basically say that the government run education system is the number one problem in our country and things like a tax break for families working two jobs with children could help get the labor force participation rate back up to where it was 20 years ago.
The age old debate continues. May I suggest you consider real, statistical, & human response data between say Denmark/Sweden vs U.S./South Korea. What are quality of life differences? What is the wealth gap - is it growing? Why did Volvo's past CEO say it was better for his corporation's success - bottom line, social cohesion, worker satisfaction as it relates to productivity, etc - to pay higher taxes & higher salaries in Sweden, achieving quality & reputation that achieved better continuing profits? It's easy to blame big government. It's better to consider what social policies actually achieve harmony & 'self-identified' success for the highest % of a society's population making its way through our lifespan, which by the way, is longer in Denmark than the US. Just one factor among many in the goals, priorities & success of a nation is military spending vs public infrastructure & social supports (eg healthcare, education, childcare). I assure you American government priorities are absurdly out of balance, pumping & wasting so much money into the obscene profits of the US military industrial complex and now encouraging NATO's sycophant leaders to do the same. I wish you a good life if it's attainment is to be widely shared among the populous of your nation & the world.
@@briancousins3101 Not really, big government is just plain bad. If it is not already inefficient, incompetent or corrupt (or all 30) then it soon will be. That's because there's no real accountability with government programs, you need a marketplace for that.
This woman is one of the worst interviews on this forum. She is delusional about the labor market. She actually believes what the corrupt federal government says about this economy.
She is collecting online data from consumers in all income and age brackets, charting the data and publishing the data on a monthly basis. I would assume there is only a limited amount of bias since they use statistical analysis to weed out outliers.
She works at a university, and is therefore an employee of the state government. She would not have that job if she thought otherwise
She sucks.
It's NOT a feeling about the job market being tough, it's a REALITY.
Also, who the hell is she interviewing about how they feel about things? Is she talking to people who are actually LOOKING for a job or people who ALREADY have a job........there is a difference
Another useless DEI placeholder
She’s not worried about wealth inequality but she sees more asset inflation in the future? What is wrong with these people?
Well, a lot of these people don't seem to realize is that whatever we do for a living we are reliant on the bottom 40% of the population to have some money in their pockets. If not directly then indirectly. Everybody needs to have enough money to pay for a new TV or a new boiler or a new bathroom. If only 10% of the population can afford these things then everybody who provides them goes out of business
I think she is worried about inequality and that's the problem. Seeking equality for its own sake is always a disaster .. for rich and poor
We are entering an inflationary depression that will be far worse than the 1930's.
Maybe. We have better technology these days. But also some big thinkers want depop.
Yes but this time the government will say growing a victory garden in your front yard is illegal because we will be required to buy food from Amazon provided by Bill Gates farmland with who knows what chemicals injected into it. Plus neighbors no longer help one another, churches are nearly empty, families are broken by Divorce, women no longer know how to sew clothes. Men no longer know how to repair cars or houses, basically the society has no education for hands on skills to survive a depression.
Fear mongering will fester that idea. Fat chance
I'm thinking you are right. If there is one important fact that my grandfather taught me about the great depression, it was that hunger ruled the land. He lived through the great depression. He was born in 1907. He told me that people were so hungry that they were eating the bark off of trees. I've been trying to tell people they needed to buy a plot of land where they can grow food. Think about it. When truckers don't deliver to a grocery store, the grocery store don't have the ability to keep it's doors open. Without food being delivered to some areas, such as cities, you have no choice but to try to grow your own food. If you can hang onto your land due to high taxes, you might can consider yourself lucky. A small investment of silver or gold could help with that. As the dollar drops in value, the value of gold goes up.
I heard only by cutting down Bonner entitlement would solve the fiscal dark holes. I believe Luke once said 30 to 40%
Only in America can people go into debt buying consumer goods and then complain they are being left behind because they don't have assets.
Indeed. But the fact that so much GDP comes from consumption if people stop buying stuff people lose jobs.
Because they are buying crap not assets such as property or vehicles or transportation like boats that can be sold again. They're purchasing cheap stuff made in China that nobody wants at a garage sale.
Americans aren't exceptional in home cooking like in the rest of G7 countries..
@@petefraser3013 there are many "make work" jobs that are actually unnecessary. Better in the long run to get rid of them.
Crazy because food is a consumer good. It’s also a sign of low morale and low forward thinking. Nobody is saving money. Meaning when everything breaks there is no buffer the US population just wants to die
Why are jobs talked about as though they are all equal. They are not. Sorry, but most of the jobs out there are part-time, poorly paid, and lead nowhere, not to mention the paltry benefits. Meanwhile, the cost of everything just keeps rising, CEO's are grossly overpaid, and God forbid the shareholders should not get every last cent. I can't wait to leave.
Addressing costs of higher education and childcare costs would be her biggest priority? Yep, that's the reason this country is going down. She definitely is a "higher education" thinker and not surprised she worked for the Fed. She is the definition of the gap between the rich and the poor, the "educated" and the rest. Totally out of touch with reality and in her little bubble. Incredible!
Good point
Why was my manufacturing sent overseas for 50 years??? Your comment is spot on . They have taken EVERYTHING!!
YES! I like Adam but 🙏🏽refrain from having OUT OF TOUCH PEOPLE LIKE HER to your channel. These are the GATEKEEPERS who continue to make inequality continue to INCREASE.
With a 34 trillion federal deficit increasing at 1 trillion every 100 days the question needed to be asked : HOW ARE WE AS CITIZENS SUPPOSED TO SUBSIDIZE THESE ADDITIONAL BENEFITS WHEN NOBODY WANTS TO RAISE TAXES EXCEPT ON SOMEONE ELSE AND OUR POLITICAL ELITE, WHICH IS EVERYONE IN OFFICE, WANTS TO JUST SPEND,SPEND, SPEND TO BUY MORE VOTES. BOTH REPUBLICAN, DEMOCRAT, AND INDEPENDENT. I do not even here any politician bring up the size of the debt as a discussion????point.
The point would seem to be it's good to be educated.
Higher standards of living are achieved, not through higher wages, but through better production. When you’re talking about the masses, higher wages just become inflation.
MOST people have little/no assets, and so are getting 0 out of the inflation!
Most people have more debt than anything else and over the long term inflation lowers the value of that debt.
Congratulations, Adam, on your first AI interview! The machine learning demonstrated by your virtual guest was impressive. Key takeaways: 1) The COVID lockdown economy was notable for its positive, if temporary, impact on income equality, 2) increasing wealth disparities since COVID are consistent with the long-term trend, and 3) consumers are unhappy about the current high cost of living which could be mitigated by new government subsidies. We look forward to hearing more machine learning from this LLM.
So her solution to the economical problems is even MORE public spending and govt subsidies?! You can tell this person has worked most of her professional career in the public sector (Fed, universities, etc). When will they learn that most of the economical malaise we are experiencing stem from excessive deficit spending and regulation?!
This woman does not worry about the wealth inequality because she's one of the "haves".
She also underestimates the negative effects a deteriorating middle class will have on her life.
The latter part of that is indeed an understatement. 😂
The traditional ways of getting ahead and living a comfortable, fulfilling, not rich, life are becoming harder to achieve.
Because kids aren't raised to be self sufficient. Fitness, finance, friendship, etc... all the things you give to yourself are ignored in exchange for consumer or government solutions.
It’s changed. STEM grads are making the best progress. So specialist doing very well. Jobs that are commoditized not so much. Warren Buffett said wealth inequality is because those with financial assets have greatly benefited from the increase in value; the rich did not become rich at the expense of the poor.
Why does the Fed feel that it’s a “win” to lock in overinflated prices and keep them getting higher at a minimum of 2% (10%+ in real life)
Good show Adam. I feel the bottom line is we as consumers have "tapped out". I know plenty of net wealthy people who simply look at the cost of stuff and have trouble reconciling and justifying the purchase. It's not just those under huge financial pressures but those who are not.
We can’t afford Governments at all levels. Bankrupt is the only way to cut Personnel and waste. The longer we wait. The worse it will be for ALL of US.
Exactly. The PROBLEM is not ONE politician will do this. Trumps a lying sack of $h!t and tells his base what they want to hear but does ABSOLUTELY NOTHING when he's given power.
We had the opportunity to actually FIX our financial system in 2016. INSTEAD, Trump figured "hey, let's print even MORE money."
This growing margin between the 1% and the peasants is perpetuated by the stock market bubble going forever higher thanks to Janet and Powell. The financial economy has devoured the real economy will end horrifically for everyone even the 1%.
not everyone lives beyond their means, not everyone buys a 100K truck a million dollar house.
I have a feeling Joanne is voting for Biden in November
Uhhhh, ya think?! 😂
The tricky part of the labor market is so many people have multiple jobs and so many have no jobs at all and not even trying. How is all of this happening and factored into the macros of unemployment rates.
Tax policy needs to change. If you work, you will get poorer. If you don't work and have money to invest in assets, you will get richer. Earned income from working a W2 job is taxed higher than capital gains. Tax policy discourages making what we used to call "an honest day's living."
Another high net worth Economist claiming to know how the working man is feeling... Haven't heard that one before
This is how I felt as well. The whole data driven analysis in general minus the long- winded mental masturbation being done by her seems to boil down to one thing we already knew. If you own assets you’re feeling good. If you don’t own assets you’re feeling like shit. She even goes on to say that interestingly enough this was going on pre pandemic. Oh wow! What a revelation. What power that be could have been choosing winners and losers for a decade prior to the pandemic that also ratcheted up during the pandemic? This is why I find interviews with people like this a bit ridiculous, the reasons behind why more people with less financial assets are feeling worse off than those few with more financial assets with markets at all time highs is not that grand of a mystery.
On top of that her whole rant is constructed around consumer spending. The economy is there to serve society not the opposite. She’s got this completely backwards, the majority are tapped out because the real economy has failed most people since financialization has trumped actual production. Paper wealth economies derived around markets only make people with assets increasingly financially wealthy which may not be the only form of wealth but is the type of wealth that is required to achieve things like home ownership which helps pave the way for family formation, etc.
Lastly, she goes on about how high rates are the problem. No. Artificially suppressing rates and debasing the currency rather than letting market forces dictate the risk rate and also control liquidity pools is what has demoralized people, the other is just a symptom of this original source.
You really have to think about what is being measured on the ordinant of the graph. For example all groups had fewer complaints about high prices from 2013 to 2020. Life was getting better in the US. Now for the last three years people of all income groups are much more concerned about high prices impacting their confidence in our economy.
Agree. She ain’t feeling it. Based on surveys.
I'm sorry, but your guest seems to sound exactly like the main media.
What is she supposed to sound like? The marginalized, fringe right-wing mindless media?
She deals with raw data so is likely the source for the main stream media which go on to distort it for their own devious means.
Cost of higher education is her biggest priority?? Lost a bunch of credibility there.
The best way to bring down the cost of higher education is to cap pension payouts to somewhere between 2x-3x Federal Poverty Level. The California education system has a gargantuan cost burden at the moment in pension obligations.
People think their income future prospects are good? Really?
What I'd expect from an emotion-less regime technocrat, whether she's sharing some truth or not. I sensed that Adam was trying to probe for a bit more, but she deflected or wouldn't elaborate much.
What planet is she on?
Bizarro World Krypton before it blew up, only in her bubble could she be considered to have super-powers, in the real world she would be lucky to pull minimum wage.
asia
plantet Urf
Thank you, Adam. This video was quite confirming. Where I live, most are broke. Everyone I know is cutting back. Restaurants that are still open are empty.
UM data is BS, likely politically biased. Her fix, getting more votes via cancel student debt, more government programs for higher education, and helping people with child care so child care is affordable. These are her most important issues.
Out of touch with reality. This is the U of M study people pay attention to. This is an example of FED thought. What could go wrong?
Adam, loved this interview - huge step in the right direction and that marker of 100,000 subs! Congratulations, love the work ethic!
blah blah blah. just the same BS view by this speaker.
Joanne Hsu is an excellent subject mater expert and this group has done extremely well finding better ways to survey and learn consumers true feelings on important subjects. More focus is needed to understand the true feelings.
The economy sucks. Everybody is broke.
More of a question than a comment. I'm 50 years old... should I worry about my Vanguard 401k? I listen to these podcasts and how the fiat currency is destined for failure, the housing market is due to collapse, interest rates are going to rise etc etc....is this something to worry about with another 18 years until retirement?
Adam, I hope you learn something from all these comments. Your audience is vastly, VASTLY more intelligent and "in touch" than your guest.
Agree! Success is when opportunities meets a person who is already prepared! Ty!
I make almost 100k a year, its 2k to rent a studio anywhere within an hour of where I work. Insurance is up astronomically, cost of car ownership up astronomically. Groceries have moderated, I live frugally. I can save maybe 1k a month by cutting out my avocado toast. A downpayment for a starter home within a 2 hour commute will be roughly 60k which would tale well into 5+years of nothing going wrong to save up for. I am living in my car right now to save money. My grandparents were teachers made 20k a year and had a 5 bedroom brick house with 1 acre on that salary, they paid 70k for the house. I would have to make 500k+ to be able to afford the lifestyle they had. Wtf happened?
Money got siphoned upward by the stock market via QE, low interest rates, share buybacks etc. The limited housing supply has caused those with the cash from investments to drive prices through the roof.
They stole our wealth by printing money and giving it to themselves and their friends so they can have 5 yachts, 4 beach homes, two mountain chalets and an island full of underage boys and girls.
All kinds of personal, corporate, and government debt. And the extreme reduction in taxes since Reagan. All of this is inflationary
Money printing, importing cheap labor, and offshoring good jobs overseas.
Government regulations, zoning, permitting costs have greatly increased the cost of home building. Low supply leads to higher prices and high taxes
Great Show!🌞
s&p all time high, and she's talking about wage gains. the asset owners are multiplying their wealth, while real incomes even after decades of stagnation grew only a little. inequality is as bad as it can be sustainable. making matters worse, many are unaware of it or some regressive taxes, so it never makes it into a politicy or serious electoral debate
This was so well done! Great guest 💪🏼
I took my wife and kids to miniature golf. We also played some games at the arcade, went to a “bubble experience” in the mall and shared one pretzel. It was $400.
People don't seem to understand that the economy has nothing to do with the stock market.
Sorry not buying your guest's take on unemployment. As someone who has worked for Health Resources and Services Administration, a federal government agency, is her opinion free of outside influences? The stats in question come from the gov. She worked with them. Similar viewpoints? How about someone impartial?
What's the value of a college degree if everybody has one?
Diminished value to the degree holder but same benefit to society as before, just more of whatever
@@jessehamilton4223 the benefit being the debt taken out for the degree. We need more smhuckatells taking out loans and raising shareholder price.
Productivity is down work ethic is down ambition is down.........
Exactly same in Belgium, socialist hellhole
Yet every single restaurant is packed. Starbucks line still insanely long. And Amazon trucks delivering non stop.
Funny how ignoring the "news" and looking at reality paints a different picture. But hey, buy gold.
It's insane that Wall street got back buying NVidia + Mag-7 + SMH after dumping them for few days..Once bad news is bad news and bad earnings coming up in 3rd quarter, they will flee the market with sore wounds...Opportunity for me to buy Gold & Silver miners today at cheap prices...Love your channel.
Im aways going to recoil when someone says "we need to CONTROL "
Meh, someone's always in control. I would much rather it be someone who I can see and evaluate what they're doing. Otherwise it WILL be someone in a shady backroom.
@@adamhixon the government control/interventionism is what drove UP the costs of education.
@adamhixon. You mean like "government"?
Thanks Adam 👍👍
Higher education (college) is not necessary, nor desirable, for many, maybe most young people. Learn a trade, a skill that you can make a good living at. Many college degrees are worthless. And if you choose to get a college degree, make it something in a specialty, like engineering or accounting that have a specific market, or a foundational degree for further education in medicine or some other specialty.
just wait til AI rolls out...we'll all be retiring ~ but AI doesn't pay taxes ...love to see a show about what the future job outlook will be when AI is fully rolled out to the country ...can't imagine what this technology will do for the culture of work. 8 hours plus of free time...sounds good but I think it will be torture for most people. We have a serious mental health crisis in America ...nothing makes sense anymore...we are ruled by greed -
Can’t see how AI will benefit workers and I assume most of the population will be on welfare.
I don’t believe that AI provides any substantial productivity gains because its accuracy and quality control cannot be relied upon. Taggart recently did a video interviewing someone about that very topic. But, even if AI does turn out to dramatically increase productivity, the result will not be that the average person has to work less hours. Consider the example of the personal computer. It is a dramatic productivity improvement over filing cabinets and typewriters, but PCs have been in the workplace for 40 years now and the average person still has to work 40, 50, 60 hours per week or more.
Adam. I wonder if you or your guest has considered how the U Mich. data reports unintentionally influence attitudes and behaviors of consumers--in statistically significant and non trivial ways? Once people hear negative data, they are likely to reify such negativity, and the converse is also true. still, a good, elucidating discussion.
We U.S. citizens are sitting as kings and queens in our place in human history. Never before have we had access to so many things that people from the past lacked: clean water, fresh air, access to a wide variety of food, housing, vehicles, banking from our cell phones, having food delivered to our homes, taking flights and cruises to foreign countries and having almost anything one wants delivered to one's home. The notion that I deserve better than this is ridiculous. Until we are adding water to make the potato soup go farther, we should stop bitching and be grateful for what we have. If people want to be miserable, I'm sure they'll find a way.
Oh look, one of the haves telling the have nots how great it is! Let me go put a different condiment on my white rice with private store label hotdogs and chant USA USA USA.
Gaslighter. Liar.
Great show as always!
I look forward to watching you content every morning
People like to complain instead of looking in the mirror.
I am one of the unpopular class of people being a boomer. I had to save money until I was 35 years old to buy my house. This was in spite of the fact I had a masters degree in a professional job and I couldn’t afford to move into it until I was 40 years old, so I had to run out in between Interest rates and a half percent I went 10 years with no raises and my point of all of this is that I don’t think it’s ever been easy for anybody and I am just concerned that people think that they had a right to have it easy I don’t think it has been easy and it wasn’t easy. I don’t believe for my parents.
"concerned that people think that they had a right to have it easy"
That's like one of the only major factors about living in the US. It was that you can actually work to get ahead, unlike other countries where it doesn't matter how hard you work. Take that away and the US loses major benefits to living there. If you've traveled, then you'll know that the US has some of the worst cities to live in because they're not built for humans but for cars. If we can no longer expect to own a home with a decent job & education, there's really no reason to even live here. Of course, patriotic people won't stand for this (and others can't afford to move away). So this is a very bad change because of the social implications.
You’re not very intelligent. Hard data shows otherwise. It is far harder now.
Declining ability for a family to have 1 parent working and 1 home raising the future has help to produce a very dysfunctional society, brought on by both parents working, and a failing educational system raising our future with even poorer results. IMO
I don't think people are blaming individual "Boomers". They are blaming "Boomers" as a collective.
The governmental policies (inflation & entitlements "very Communistic in nature, not Capitalistic at all")
did little damage early on, but after 50 years that little pebble created a financial, economic, and social avalanche that we are all living through.
Ultimately the Boomers short term gain, created a long term lose, for their offsprings (collectively speaking).
Compared today, you DID have it easy. Look at the Case Schiller index. Either you're ignorant to that fact or you're uneducated. Either way, you're wrong. It's never been "easy" but you didn't have to compete against corporations, foreign investors buying and holding neighborhoods, and uber wealthy mom and pops turning your street into a hotel, to just get a starter home.
My entire goal in life is to not be labeled as a consumer. What a gross term for a human being.
I believe, in private circles, the elites prefer to use the term "useless eater".
Thank you very much...
It's a bad idea to put tax payers in charge of paying for daycare. That's Grandma and Grandpa responsibility to help Just like I've helped my children. Daycare would skyrocket just like the cost of college, baby formula, and now even salsa is paid for by wic and had significantly increased. Enough with the wealth transfer. Couples can save money and pay down debt before having children. They want a big house and 2 vacations a year, free college educations, and now free child care. We know certain groups spend!
Today's grandparents are too busy traveling, golfing, and IGing to babysit.
A lot of people need to move for work, so no grandparents around.
Thanks!
Thank you very much!!
The answer is always Supply and Demand. The economy is bad and getting worse because there are too many dollars without the offsetting production. The US produces very little. Production = Growth. Solve for the production problem and the rest will sort itself out.
Do you believe the official numbers, or do you believe your lying eyes?
It's just been reported that California's jobs numbers were -32k instead of
the reported + 117k for the 4th qtr.
Sorry, we’re there already on the haves and have nots
Julian Assange is free.
At great cost to himself and to all brave whistleblowers who dare to step forward amd speak out about the wrong-doings of governments and corporations.
He proved to us all what we already knew and payed a great price. He is the ultimate whistleblower.
You're a bunch of sheep
@@granitestateman942to be precise: the US government
This dtatement is totally out of context here.
I’m 33. Even if I max out my Roth 401K at work and Roth IRA (the years we may qualify) the retirement calculators project say 3-4million. But they also say that will be worth the equivalent of 1.2-1.5 million in today’s dollars which is no lavish retirement... So what’s the point? Anyone else coming to this realization? Feels hopeless!
I think the point is comparing $1.2-1.5mil in today's dollars to $0. Giving up only guarantees failure. Keep at it and, if possible, find a better way
@@adam.taggart thanks Adam, I’m working on finding a better way🙏🏻 at the moment it’s just putting in more hours. You know how it is with healthcare jobs.
I feel sorry for youngsters who have no hope for the future.😢
It mostly boils down to the fact that most working Americans are SCREWED ROYALLY if they aren't in a 2+ income household of some kind (working spouse, working roommates, etc.)...& even many of those are still screwed economically.
I agree, thank you both
Some prices stopped rising but housing skyrocketed and I need to move. Hence my confidence is horrible. Inflation has to be going up again due to the lag effect they always talk about
Glad your back Adam
Youll own nothing and be... there was a second part, but we focused so much on the first part, we forgot it. I think it was "fat"
😂
Great interview. Joanne is pleasant indeed to both the eye and the ear.
The bigger government gets the higher our taxes also increases!!!
Yawn worthy interview. Think I lost some brain cells 🙃
Hmm, any policy suggestions from your guest that would be helpful to men or young fathers? No? Pity.
Here's one. Stop ALL redistribution of wealth, whether by fiscal or monetary policy, and let people just keep what they earn.
Period. End of story.
This lady would be on the street in a heartbeat as all these useless paper/data shuffling jobs would disappear... replaced by actual real world production.
Don't borrow any money.
Am I the only one who is skeptical about her institution’s consumer sentiment data itself??? Why do they change methodology so often to start with?
What a great sophisticated and communicative capable guest Joann Hsu is. The best conversation since a long time. Hope to see her more frequently on this channel
Adam is a master of leading his guests to answer with a negative slant. Much of the current pain is caused by socials. There has never been a better time to invest - in yourself, in your community, in assets. Its not all bad - remember, negativity gets clicks and Adam has a vested interest in you commiserating with that sentiment. [Still a good show Adam...]
The majority of asset holders ironically obtain dividend and coupon payments from stressed out consumers and not from production or the sale of product that they actually create and sell.
Change the system before it irreversibly changes humanity!
Trump's,. Coming,.. in 4 Months !
His Admin.,.. will END this,.. "Crazieness" !!!
Vote,.. accordingly !!!
I’m surprised no mention of labor force participation rate being weak