Good ideas. Lets dive deep into them. A lot of them sound good in theory, but have practical challenges, which will eventually involve trade-offs, which make one question the efficacy of the idea 💡
Kyla, I just found your channel a few days ago. I think you do an amazing job of explaining the economy, and perhaps why many of us feel like it is against us 🤯 your insight is very valuable, especially to young people who may not be aware of these things. Best of luck to you ❤
I had panic attacks, too. It sucks because they only happened when I least expected them which made it worse. They stopped, eventually and it's been several years since the last one.
Kyla, the way you introduce the human element to economics is both helpful and lasting. I like your analogy that how people are (tangibly) and how they *feel* about how they are can differ meaningfully, particularly in the context that the broader population may feel a certain way, and the reality only matches some of them.
Hi, thanks for taking this on. May I add: when ot comes to finite resources, we have a dichotomy. Infinite resources for corporate exploitation, finite to scarce resources for Working Class individuals. This leads to massive cognitive dissonance, and may well be part of what is bringing on panic attacks at your individual level. You're carrying a ton of info in your head, and no doubt there are conflicts! Best of luck, and thanks again gor your hard work.
Hey Kyla! Really lovely video as always. I think my favorite part of your style is how it just feels like we're all just hanging out listening to your perspective about the current economic situation.
Regarding panic attacks: For what it’s worth, mine went away once I starting not trying to prevent them, but just to go with them. “I’m going to make this one even bigger than the last one.” I realize everyone can experience them differently, but that’s what worked for me.
As always I love your perspective. I have a friend that experiences panic attacks a lot and has been all of their life. This year we found out they were made a lot more likely by gastroporesis. While there isn't a way to cure it, the perspective on their situation seems to help. Your situation is obv different but I really hope you are able to resolve them as they suck! Good luck
People derive existential meaning from being doomers, believing the end is near. It gives them some kind of sense of involvement in a greater cause but it's kind of a backwards way of giving your life meaning. Your world is going to end no matter what the rest of the world does.
I like how you think of the economy and how you explain very well the way it is governed and why a socialist approach to vital human industries makes sense. Thank you and I wish you well.
Kyla! ❤I love your channel! Just wanted to suggest if you have recently been experiencing panic attacks (which btw, I’m so sorry you had that happen to you) sometimes magnesium supplements can help that as there is some clinical data suggesting a connection between magnesium depletion (precipitated by environmental and dietary factors - ie caffeine consumption which depletes magnesium in the body) and anxiety and panic attacks. It’s not a silver bullet but magnesium supplementation has helped some people. You help so many people through your great content, I wanted to pass that info on to you in case you want to try it to see if that helps. Good luck! 🍀 wishing you all the success in the world! Keep being amazing! ❤
I remember watching the Milwaukee BLM riots and a commentator said that people were destroying stores in their own community, but my thought was that these stores probably weren’t owned by anyone in that community. They had no investment or ownership in those businesses which lowered the inhibitory threshold for attacking that business.
Yet those areas are still devastated. No (local) stores have replaced the corporate stores. Those arsonists and looters should be in jail like it or not. The lawlessness in this country is out of hand due to your type of thinking and ‘activist’ Mob mentality. Remember when Antifa took over a district in Seattle? That was an excessive display of deplorable kids (adults acting like kids) acting out their anarchy. No thank you.
And now they don't have any stores and live in "food deserts". No reason to build in a community that is going to steal store and burn down the building
I’m watching this a year late, but I ABSOLUTELY agree with the sentiment that we should Centralize certain regions of the economy under the government. We have such an absolutist infatuation with the free market that we miss common sense solutions. Our markets are made more competitive when we have a well designed governmental back bone
With $50 a month, anyone can be an asset holder. I am immigrant who came to Canada with nothing, and now, me too, I am an asset holder. If I did it, anyone can do it.
Great piece Kyla, thank you for your perspective. I'm sorry you are going through panic attacks, they are awful. It sucks when your fight or flight mechanisms are going haywire! Whenever I am having a bad one my wife tells me that the silver lining is I will be well trained to handle the chemical cocktail flooding my system if a dinosaur is ever chasing me. After she assures me I am not in fact dying, of course. I hope they lessen in frequency and severity for you soon.
Kyla, I just found your channel today and this is my fourth video listening to you explain Economic factors in terms that are socio-relational as opposed to isolated check points. Unlike your other conversations, I found this particular one hard to follow and I missed what the 1% don't want me to know. I think it's great to give reference to thought, but continually reading other posts was distracting, and because you had to speed up to read them, your comments were harder to hear. My gut feeling was - more Kyla, less everyone else. Forty years ago I earned degrees in Economics and Philosophy. I always felt there should be a synthesis of the two that was contemporary. Philosophers like Marx and Veblen took a shot, and Adam Smith tried from the other side, but I didn't find contemporary comments that were specific to current trends (Friedman - OMG). I think you're looking at these issues in a way that most from my generation have not. And you're nailing it! I enjoy your comments, especially concerning Economic Vibes and I just subscribed to your channel. Thanks for the insights and fresh approach!
The only time I’ve had panic attacks is when I took a large dose of lsd. Eventually I learned to operate my body, like a meat mecha suit as I went on about my day. I’d go to the store, stop by the local coffee shop, have conversations with friends while I’m in the midst of severe visual, mental, and physical hallucinations. I’ve had one panic attack since I’ve stopped doing lsd when I went into anaphylactic shock after eating at a vegan restaurant, and I was able to hold myself together. It felt like I was simultaneously monitoring my panic and operating myself, quite a weird experience.
PTSD caused by pandemic lockdowns, fear of death, fear of contagion, fear of economic collapse … is very real, struck the entire world at once, and may take many years for us to work through. Realize that we are not alone. There are many great things to still accomplish, each to our own interests and abilities. Keep up the good fight in your own way, and remember, help and support is all around us, sometimes hidden, often comes in unexpected ways, and is sometimes closer than we think …
I think we don’t feel good because our wages have not caught up with the compounded inflation. Also the inflation over the past 5 years feels more then the BLS is stating. I have a government job and 4 kids and am very frugal. I know what food was costing 5 years ago and in California it has gone up 80% at my local Kroger. My insurance rates are insane too. So it doesn’t feel good because it’s not, our country has the most credit card debt we have ever had in our history and delinquencies are up as well. It’s hard for me and my friends. Thank you for your channel and all your work.
quality of life is huge for a lot of people. i think in places that lack amenities such as you mentioned, we should be able to at least qualitatively synthesize the impact. Take for instance, cities with inflexible good servicing institutions with little amenities (college towns, national lab cities, etc) brain capital is funneled out of these places and exported to major cities that have higher QoL (quality of life) metrics or perhaps density is a better word idk but great video
There needs to be seller capitulation. Real estate agents say “rates will come down soon, just refi.” No. Ask 100 agents and maybe half know the short term rate doesn’t really matter. The bond market matters. Why? Normally (this is key) the average 30 year mortgage rate is a 1.5-2% spread of the 10 year note yield. e.g < 10 year is at 3.5% and 30 year would be 5.5%> Go calc the spread when you read this. Look at the juice. Look at the lenders. They are squeezing because they are worried. Because why are we seeing this spread? We “should” be 100 Bps lower. China and others and dumping their us debt. And an increase is supply will mean the price of the bond falls. And the yield will go up. And this scenario will effect the bond market as well as the real estate market. Some may buckle in and swallow these rates thinking “Susie is right, we’ll just refi in like a year or two.” Maybe not. Pull up an amortization calculator and run a 400k home at 7% Now run the same number at 6% (shit, but better) Now run at 3% No matter who you are if you are buying a home please please please see why a lender is willing to offer you a loan. Because the house is theirs and right now you are keeping the collateral in shape and paying twice as much for the home. More in interest then the value of the home. And that home value doesn’t have to keep going up. It can always go down.
societal cohesion is breaking down in many different ways and the main driver of that is the sharp divide between those that have assets / access to credit and those that don't. The US economy shifted away from its industrial base in the 70's and now it's shifting away from financial institutions towards wealth management to ensure asset values never decline. We're burning the productive economy in an effort to prop up fictitious capital that will inevitably be wiped out because there is no way to valorize any of that speculative value.
US should look into India UPI system, its a instant payment protocol that any app or bank can adopt, has interoperability between apps to promote competition and curb concentration, the FED should rather be building an open protocol that anyone like PyaPal, Cash, Venom, banking apps etc can plug into than building an everything app
There should be more companies made that are part worker owned. What a way to align interests with the productivity of a company. What a way to create wealth for the person who makes it possible. I would like to start a couple companies like that, but I don't know how to go about it.
I would love it if Congress created a public bank within the SBA to provide seed money for worker cooperatives (there have been bills introduced to this effect over the decades). In a saner world, perhaps the Dem nominee would champion it for upholding broader ownership of the means of production, while the GOP nominee would champion it for helping workers become entrepreneurs
Also, a CBDC + FedNow + postal banking could really help draw public attention away from the very risky speculative instruments that are the crypto world
@@JarrodBaniqued LMAO...so you want the government to dictate how to spend your money? That is what a CBDC can and will do. They could easily eradicate and control your finances through a central digital currency. We need MORE decentralization, not more centralization.
I think your Econ takes are good, but the "super app" is a lot more of a fever dream than a practical plan. In Brazil for example we have a "PIX" system thats like a venmo that works for all banks and its good but consequently all the other banking systems suck via any centralized entity and costs so much.
Consolidation in FinTech would be amazing. I switched jobs last year and had to transfer my 401k, had some HSA funds in a brokerage account and had to transfer that. I personally don’t trust our federal government managing all that from a logistical standpoint, but I don’t have an alternative to offer 😅 I’m personally “okay” with where things are at cause things have improved. I’m not paying $7 for a dozen eggs which is nice, and overall my grocery bill has gone down. I got into my job at a good time when companies were paying more. But I don’t see myself owning a house anytime soon and I’m 29. Just isn’t feasible or worth it. I think overall things aren’t as bad as what they seem in some cases, they’re worse in others. But there’s a lot to be hopeful for I think if we can end the hyper-individualism.
i never heard of baby bond, but SOUNDS like a great idea! the GOV needs to SHOW ppl that they care by teaching ppl more and pushing ppl more to SAVE AND INVESST IN themselves.... honestl that is net good humanity needs. when ppl want less kids, i personally think it's a direct result from the evil and bad leadership by MANY many ppl...in charge.
Feedback: Kyla - please slow down and articulate your words. Also, the focus on well-being is a great point. I don't know that green energy workers enjoying recreation will address the 90% disenfranchised but the whole domain of socialization is in decline, and people are isolated. I love this series, it creates a lot of ideas for conversation outside of the normal topics. Please keep going thanks.
There are good and bad ways to do employee ownership (I once worked for an employee-owned company and would refer to it as an employee financed company because we were buying the shares of the 20 or 30 people who really owned the company when they wanted out) I agree that renting will make more sense for me at some point - because I can take the value out of my house and use it to pay the rent for many years while my savings accumulate. But my great-grandparents left Europe because they could not own a house ever - the laird owned everything (to this day in the UK 85% of the property is owned by aristocrats, celebrities and their corporations, another 10% by government)
Thank you for these videos. We no longer have an attention span, and have consequently lost the ability to read. Edit. Yep. There is a disturbance in the force.
Sending good vibes to counteract the inverted chill curve! Fed now would be nice if it acted as an integrated marketplace that fintech plug into their apps. The government should not build apps. But should build internal tools to help make the banking system faster & more efficient. The data linked to fed now could help inform monetary policy quicker by understanding key insights that are usually a lot slower/difficult to track eg. $velocity, DIR, CPI… people are not going to be thrilled to hand over all their data to the fed. But more trust might be achieved through a third party vendor/org that is liable under an agreement.
If gov is but one of the vendors then that's fine but any monopolistic practice is going to bring down the level of innovation. Gov can offer a base line service that gets the job done. That pushes the private sector to embrace and extend with improvements and pushes innovation further.
I made some videos about real estate oligarchy, Its so serious what the house flipping became, SEC should have regulated housing markets so that first time buyers are given several months priority before an investor can buy a house on the market. I would like to start an organization that helps people to class action sue some of the landlords , real estate investors and mortgage companies for ownership of the properties , people pay the taxes, pay the mortage , pay profit to the landlord and to the mortgage company, essentially people support their employers, their landlord, and the banks, and their own family, and all the businesses in the community that they consume from and can barely live.
FedNow + postal banking = joy! Biden should do for shared spaces what FDR did for the National Parks. Shared spaces have been monetized or destroyed, isolating everyone. Housing should be a much larger priority, as you said. Baby bonds I hadn't thought of, but reversing the pay to play aspect of child-rearing in this country would be a HUGE deal.
Your youth , energy and the time that you have is a superpower . Put the maximum you can into a ROTH IRA . My children started with jobs at the supermarket investing 6000.00 a year in their ROTH . In their 20s they now have close to 100,000 each . Stay out of debt . Debt is slavery . Get a ROTH . That is a father’s advice to you .
You tie a lot of concepts together in a cohesive way which I appreciate. I'd be interested in hearing your thoughts on Marxist economics in general. If you want a reference to a modern Marxist economist who is arguably at the top of his field, I'd recommend Paul Cockshott.
Agree with mostly everything except the idea of financial app consolidation. Its really not hard to find one of these apps to use. Having one super app just gives more centralized control to whoever owns the company and allows them to abuse that power. Also it gives bad actors a singular point of failure to exploit.
More people need to be working to dispel the myth that home ownership is a viable path to wealth. That misconception is a contributor to so many issues. The government needs to take home ownership down several notches by eliminating its incentives around it. Force home ownership to stand on its own merits and either people will get really irrational about it or maybe absent the government's meddling in that market prices will correct and homes would go back to being consumable assets people live in rather than people's bet for becoming wealthy.
I hope you feel better. I would ask you to ask yourself did you have many deadlines to complete certain tasks in a short amount of time? If yes then try and reduce those if you can. Large workloads cause alot of stress and nervousness.
I love the Federal app idea. So many people have these baby bonds and have lost them. They don't know where they are or how to access them. A cashless economy where all currency is managed by private companies is absurd.
Good anology between panic attacks and the economy. I think young people don't want to work in anything that is difficult or much less that pays less. They find it embarrassing as everyone is watching social media and wants a easy charmed life. I call it the death of risk
The good is good only for stock owners. For us commoners living to support the top 1% and for no other reason life sucks. How do you save, if you can't pay all of your bills as it is now?
There will be a large shift w housing down the road. Boomers move on, but we build a lot of housing now to try to combat the issues today. Will be interesting to see
At 30 years old I am starting to 'join' the system and I think these people are just stuck in a small reecession like what we saw in 2018. The new hires are stuck but my career has exploded once I got enough experience to leverage myself to new jobs. Hopefully the low end of the market ticks up but I think people have to realize they are getting their bad vibes from watching too many social media videos. If you enjoy having a soup pot luck with friends you should not be screaming about the economy because someone else is in Cancun.
Kyla, not sure if this is a good question but has there ever been any other time in history where one generation holds so much wealth that the usual flow of money and capital circulation is so bottlenecked that it stunts the growth of other generations? And if so what policy initiatives can be taken to have this be a soft landing and not a french revolution type of situation? So many in our age group are calling for some kind of change but I can’t fathom why the top earners don’t see this as an abject policy failure to do more. They want to avoid a financial collapse, why not show up to bat?
I believe post WWII Britain. After WWII, the older generation in Britain, who had grown up and lived through the world wars and the interwar years, controlled a significant amount of the country's wealth. They owned homes and had pensions, while younger generations struggled with high housing costs and lower job security.
I truly appreciate your commentary and you have def opened my eyes to issues. The doomerism (being negative about everything) is something I struggle with. Everyone has access right now to "own" assets. Fidelity or Vanguard does a great job of being a one-stop shop. Right on your phone. 30 years ago (a blink of an eye in banking history) no one had ANY access to these markets. It takes 3 days to move money from your checking to a brokerage and its for FREE. "A penny saved is a penny earned." "Those that understand compound interest earn it, those that don't pay it." These phrases have existed for decades and still hold true today. But you have to be motivated to understand what it means.
Gotta Serve Somebody by Bob Dylan. Mammon is large and in charge. "Bow down before the one you serve" Nine Inch Nails. Spirits trapped momentarily in the material world, dazed by the flashing lights and brightly colored cloth, thinking that this is all there is. The rest is commentary.
Brilliant I also believe that the lower classes are over leveraged on housing and should rather invest in stocks while buying their first residential home and about the FED app India already has UPI which has been successfully integrated in these mega apps that allow masses to invest in gold and stocks
Energy prices have been on the rise. Gas prices in Calif are $5.50+ an gal up almost $1.00 in the last 3 weeks. There is no way that most the incoming generation even with a degree could possibly qualify to buy a house in California and many other states unless you come from money! If you purchased Govt bonds 3 years ago you are taking a bath now, just ask the banks that have been bailed out lately! Why not have higher taxes for Corporate entities and the wealthy seeing that they are able to benefit from the US infrastructure and lower the tax burden for the rest of the 95% of our population.
Numbers reports are Numbers reports. Let's focus on buying power. How many people here are making more money right now than they ever have in their life- yet have less buying power than ever before?
Ownership. Historically speaking, numerous studies have documented and empirically demonstrated the extent to which the lack of access to capital in terms of “money”, has persisted to the 2024 from nearly Disenfranchised/Marginalized Redlined communities of disadvantaged socioeconomic backgrounds color al
Honestly, sometimes people want to complain for the sake of complaining. It allows them to feel like they are being listened to and validates their views. Not everything is a vibe session. Sometimes, it's just a personal opinion.
Okay, so on the Fed Now idea I see what you are saying in regards to making it easy for people to buy T bills but what happens when Governments start censoring the way people spend their money?
Also, I would like to argue that people have very easy access to the stock market today with apps like Robinhood. I think its a lack of education around investing and equity that holds people back from getting involved into wealth creation (also the fact that most poeple live paycheck to paycheck does not help). To me the consolidation of apps and making things more centralized leads to bad actors taking advantage of the system in place that could lead to more issues down the road. Personally, I think the risk/reward is off
If housing is human right ( i agree with that) why are people and corps allowed to own more than 1 home, we dont sell parts of rivers because water is a right, why do we treat land differently for people to just survive
Corps like Nestlé own significant water resources. So that has already happened. Housing as a human rights doesn't need to mean ownership of a home. E.G. Works exceptionally well in countries like Switzerland where home ownership is uncommon and renting is the norm for most rich Swiss.
Boxed breathing helped me manage my panic attacks fairly well, maybe it could help you? Also, it seems a bit scary to me that over 50% of Americans are relying on what is effectively an organized pile of sticks to be their main builder of wealth. Speculation on a organized pile of sticks as a main vehicle to build wealth to be more accurate. After having helped build houses, I don't see what the big hype is all about surrounding owning (a big) home or the wealth that it can supposedly bring. They seem more parastic than anything because they always need maintenance. There has to be a better way.
I can see why the fed now "super app" would be controversial but it sounds like very other country already has it. over coming lobbying will be a massive road block unfortunately.
Awesome video! I feel like we’re so conditioned to have this negative connotation with socialism and socialist ideas, but hyper capitalist systems have an equal amount of issues. I love this pragmatic take to integrate some socialist ideas into out economic system without forgoing capitalism as a whole. It’s a balancing act every yin needs it’s Yang.
thanks for watching everyone!
Thank you 📚 🧠
Good ideas. Lets dive deep into them. A lot of them sound good in theory, but have practical challenges, which will eventually involve trade-offs, which make one question the efficacy of the idea 💡
Kyla, I just found your channel a few days ago. I think you do an amazing job of explaining the economy, and perhaps why many of us feel like it is against us 🤯 your insight is very valuable, especially to young people who may not be aware of these things. Best of luck to you ❤
Man, we are not ready for the next generation of bots. This post was so human like.
@@Drackomass lol not sure how to take that 😂
I had panic attacks, too. It sucks because they only happened when I least expected them which made it worse. They stopped, eventually and it's been several years since the last one.
Kyla, the way you introduce the human element to economics is both helpful and lasting. I like your analogy that how people are (tangibly) and how they *feel* about how they are can differ meaningfully, particularly in the context that the broader population may feel a certain way, and the reality only matches some of them.
Hi, thanks for taking this on. May I add: when ot comes to finite resources, we have a dichotomy. Infinite resources for corporate exploitation, finite to scarce resources for Working Class individuals. This leads to massive cognitive dissonance, and may well be part of what is bringing on panic attacks at your individual level. You're carrying a ton of info in your head, and no doubt there are conflicts! Best of luck, and thanks again gor your hard work.
Hey Kyla! Really lovely video as always. I think my favorite part of your style is how it just feels like we're all just hanging out listening to your perspective about the current economic situation.
Important video. Thank you Kyla
Regarding panic attacks: For what it’s worth, mine went away once I starting not trying to prevent them, but just to go with them. “I’m going to make this one even bigger than the last one.” I realize everyone can experience them differently, but that’s what worked for me.
A world beyond speculative housing sounds great 🤩 thanks. Cheers!
What a great perspective. This gives me so much hope about the future, and even gets me excited to help make this vision a reality.
As always I love your perspective. I have a friend that experiences panic attacks a lot and has been all of their life. This year we found out they were made a lot more likely by gastroporesis. While there isn't a way to cure it, the perspective on their situation seems to help. Your situation is obv different but I really hope you are able to resolve them as they suck! Good luck
liked your phrase “mindfully intertwined with nature” ✨
It will be interesting to see where you are in 10, 20 years. CNBC anchor, Senator, hedge fund manager???? Love your work
People derive existential meaning from being doomers, believing the end is near. It gives them some kind of sense of involvement in a greater cause but it's kind of a backwards way of giving your life meaning. Your world is going to end no matter what the rest of the world does.
I like how you think of the economy and how you explain very well the way it is governed and why a socialist approach to vital human industries makes sense. Thank you and I wish you well.
Kyla! ❤I love your channel! Just wanted to suggest if you have recently been experiencing panic attacks (which btw, I’m so sorry you had that happen to you) sometimes magnesium supplements can help that as there is some clinical data suggesting a connection between magnesium depletion (precipitated by environmental and dietary factors - ie caffeine consumption which depletes magnesium in the body) and anxiety and panic attacks.
It’s not a silver bullet but magnesium supplementation has helped some people. You help so many people through your great content, I wanted to pass that info on to you in case you want to try it to see if that helps.
Good luck! 🍀 wishing you all the success in the world! Keep being amazing! ❤
This was a tour de force Kyla. Amazing synthesis of a lot of really complicated stuff.
I remember watching the Milwaukee BLM riots and a commentator said that people were destroying stores in their own community, but my thought was that these stores probably weren’t owned by anyone in that community. They had no investment or ownership in those businesses which lowered the inhibitory threshold for attacking that business.
Yet those areas are still devastated. No (local) stores have replaced the corporate stores. Those arsonists and looters should be in jail like it or not. The lawlessness in this country is out of hand due to your type of thinking and ‘activist’ Mob mentality. Remember when Antifa took over a district in Seattle? That was an excessive display of deplorable kids (adults acting like kids) acting out their anarchy. No thank you.
And now they don't have any stores and live in "food deserts". No reason to build in a community that is going to steal store and burn down the building
Most where privately owned small businesses. Also, who do you think they employed? People from the community.
Your thought is nothing more than denial
This is a very refreshing and informed take. Thanks 🙏🏽
I’m watching this a year late, but I ABSOLUTELY agree with the sentiment that we should Centralize certain regions of the economy under the government. We have such an absolutist infatuation with the free market that we miss common sense solutions. Our markets are made more competitive when we have a well designed governmental back bone
With $50 a month, anyone can be an asset holder. I am immigrant who came to Canada with nothing, and now, me too, I am an asset holder. If I did it, anyone can do it.
Can't say how much I appreciate the fact that the wrap-up to Derek's tweet is yes: that's essentially the plot to Videodrome
Glad you're finally talking about this disconnect
Great piece Kyla, thank you for your perspective.
I'm sorry you are going through panic attacks, they are awful. It sucks when your fight or flight mechanisms are going haywire!
Whenever I am having a bad one my wife tells me that the silver lining is I will be well trained to handle the chemical cocktail flooding my system if a dinosaur is ever chasing me. After she assures me I am not in fact dying, of course.
I hope they lessen in frequency and severity for you soon.
Kyla, I just found your channel today and this is my fourth video listening to you explain Economic factors in terms that are socio-relational as opposed to isolated check points. Unlike your other conversations, I found this particular one hard to follow and I missed what the 1% don't want me to know. I think it's great to give reference to thought, but continually reading other posts was distracting, and because you had to speed up to read them, your comments were harder to hear. My gut feeling was - more Kyla, less everyone else.
Forty years ago I earned degrees in Economics and Philosophy. I always felt there should be a synthesis of the two that was contemporary. Philosophers like Marx and Veblen took a shot, and Adam Smith tried from the other side, but I didn't find contemporary comments that were specific to current trends (Friedman - OMG). I think you're looking at these issues in a way that most from my generation have not. And you're nailing it! I enjoy your comments, especially concerning Economic Vibes and I just subscribed to your channel. Thanks for the insights and fresh approach!
The only time I’ve had panic attacks is when I took a large dose of lsd.
Eventually I learned to operate my body, like a meat mecha suit as I went on about my day.
I’d go to the store, stop by the local coffee shop, have conversations with friends while I’m in the midst of severe visual, mental, and physical hallucinations.
I’ve had one panic attack since I’ve stopped doing lsd when I went into anaphylactic shock after eating at a vegan restaurant, and I was able to hold myself together.
It felt like I was simultaneously monitoring my panic and operating myself, quite a weird experience.
I love your concept for Fed Now.
PTSD caused by pandemic lockdowns, fear of death, fear of contagion, fear of economic collapse … is very real, struck the entire world at once, and may take many years for us to work through.
Realize that we are not alone. There are many great things to still accomplish, each to our own interests and abilities. Keep up the good fight in your own way, and remember, help and support is all around us, sometimes hidden, often comes in unexpected ways, and is sometimes closer than we think …
I think we don’t feel good because our wages have not caught up with the compounded inflation. Also the inflation over the past 5 years feels more then the BLS is stating. I have a government job and 4 kids and am very frugal. I know what food was costing 5 years ago and in California it has gone up 80% at my local Kroger. My insurance rates are insane too. So it doesn’t feel good because it’s not, our country has the most credit card debt we have ever had in our history and delinquencies are up as well. It’s hard for me and my friends. Thank you for your channel and all your work.
quality of life is huge for a lot of people. i think in places that lack amenities such as you mentioned, we should be able to at least qualitatively synthesize the impact. Take for instance, cities with inflexible good servicing institutions with little amenities (college towns, national lab cities, etc) brain capital is funneled out of these places and exported to major cities that have higher QoL (quality of life) metrics or perhaps density is a better word idk but great video
There needs to be seller capitulation.
Real estate agents say “rates will come down soon, just refi.”
No.
Ask 100 agents and maybe half know the short term rate doesn’t really matter. The bond market matters.
Why?
Normally (this is key) the average 30 year mortgage rate is a 1.5-2% spread of the 10 year note yield.
e.g < 10 year is at 3.5% and 30 year would be 5.5%>
Go calc the spread when you read this.
Look at the juice. Look at the lenders. They are squeezing because they are worried.
Because why are we seeing this spread?
We “should” be 100 Bps lower.
China and others and dumping their us debt. And an increase is supply will mean the price of the bond falls.
And the yield will go up.
And this scenario will effect the bond market as well as the real estate market.
Some may buckle in and swallow these rates thinking “Susie is right, we’ll just refi in like a year or two.”
Maybe not.
Pull up an amortization calculator and run a 400k home at 7%
Now run the same number at 6% (shit, but better)
Now run at 3%
No matter who you are if you are buying a home please please please see why a lender is willing to offer you a loan.
Because the house is theirs and right now you are keeping the collateral in shape and paying twice as much for the home.
More in interest then the value of the home.
And that home value doesn’t have to keep going up.
It can always go down.
great video, kyla!!! excited to see the new pay pigs episode.
societal cohesion is breaking down in many different ways and the main driver of that is the sharp divide between those that have assets / access to credit and those that don't. The US economy shifted away from its industrial base in the 70's and now it's shifting away from financial institutions towards wealth management to ensure asset values never decline. We're burning the productive economy in an effort to prop up fictitious capital that will inevitably be wiped out because there is no way to valorize any of that speculative value.
I hope your vibes get good!
Love hearing your analysis. 🙂
Well shit, now I feel bad for my kids future. I hope things will improve. Thank you for making such insightful videos and take care of yourself.
US should look into India UPI system, its a instant payment protocol that any app or bank can adopt, has interoperability between apps to promote competition and curb concentration, the FED should rather be building an open protocol that anyone like PyaPal, Cash, Venom, banking apps etc can plug into than building an everything app
Thank you for sharing!
There should be more companies made that are part worker owned. What a way to align interests with the productivity of a company. What a way to create wealth for the person who makes it possible. I would like to start a couple companies like that, but I don't know how to go about it.
I would love it if Congress created a public bank within the SBA to provide seed money for worker cooperatives (there have been bills introduced to this effect over the decades). In a saner world, perhaps the Dem nominee would champion it for upholding broader ownership of the means of production, while the GOP nominee would champion it for helping workers become entrepreneurs
Also, a CBDC + FedNow + postal banking could really help draw public attention away from the very risky speculative instruments that are the crypto world
@@JarrodBaniqued LMAO...so you want the government to dictate how to spend your money? That is what a CBDC can and will do. They could easily eradicate and control your finances through a central digital currency. We need MORE decentralization, not more centralization.
You can buy a publicly traded company right now if you work for one.
I think your Econ takes are good, but the "super app" is a lot more of a fever dream than a practical plan. In Brazil for example we have a "PIX" system thats like a venmo that works for all banks and its good but consequently all the other banking systems suck via any centralized entity and costs so much.
Consolidation in FinTech would be amazing. I switched jobs last year and had to transfer my 401k, had some HSA funds in a brokerage account and had to transfer that. I personally don’t trust our federal government managing all that from a logistical standpoint, but I don’t have an alternative to offer 😅 I’m personally “okay” with where things are at cause things have improved. I’m not paying $7 for a dozen eggs which is nice, and overall my grocery bill has gone down. I got into my job at a good time when companies were paying more. But I don’t see myself owning a house anytime soon and I’m 29. Just isn’t feasible or worth it. I think overall things aren’t as bad as what they seem in some cases, they’re worse in others. But there’s a lot to be hopeful for I think if we can end the hyper-individualism.
I mean it doesn't feel good because I'm living paycheck to paycheck and have almost nothing to show for it
Now we're talk'n Kyla!
i never heard of baby bond, but SOUNDS like a great idea! the GOV needs to SHOW ppl that they care by teaching ppl more and pushing ppl more to SAVE AND INVESST IN themselves.... honestl that is net good humanity needs. when ppl want less kids, i personally think it's a direct result from the evil and bad leadership by MANY many ppl...in charge.
Feedback:
Kyla - please slow down and articulate your words. Also, the focus on well-being is a great point. I don't know that green energy workers enjoying recreation will address the 90% disenfranchised but the whole domain of socialization is in decline, and people are isolated.
I love this series, it creates a lot of ideas for conversation outside of the normal topics. Please keep going thanks.
There are good and bad ways to do employee ownership (I once worked for an employee-owned company and would refer to it as an employee financed company because we were buying the shares of the 20 or 30 people who really owned the company when they wanted out)
I agree that renting will make more sense for me at some point - because I can take the value out of my house and use it to pay the rent for many years while my savings accumulate.
But my great-grandparents left Europe because they could not own a house ever - the laird owned everything (to this day in the UK 85% of the property is owned by aristocrats, celebrities and their corporations, another 10% by government)
Thank you for these videos.
We no longer have an attention span, and have consequently lost the ability to read.
Edit.
Yep.
There is a disturbance in the force.
Great work Kyla!!
Consolidation is the worst idea ever.
Especially for the military.
I came into this video a simp. I left the video feeling like an informed, educated gentleman. Dang. What a brain!
You don't get downgraded because things are great... you don't raise rates unless there are zombies to squishy...
Sending good vibes to counteract the inverted chill curve!
Fed now would be nice if it acted as an integrated marketplace that fintech plug into their apps. The government should not build apps. But should build internal tools to help make the banking system faster & more efficient. The data linked to fed now could help inform monetary policy quicker by understanding key insights that are usually a lot slower/difficult to track eg. $velocity, DIR, CPI… people are not going to be thrilled to hand over all their data to the fed. But more trust might be achieved through a third party vendor/org that is liable under an agreement.
If gov is but one of the vendors then that's fine but any monopolistic practice is going to bring down the level of innovation. Gov can offer a base line service that gets the job done. That pushes the private sector to embrace and extend with improvements and pushes innovation further.
I made some videos about real estate oligarchy, Its so serious what the house flipping became, SEC should have regulated housing markets so that first time buyers are given several months priority before an investor can buy a house on the market. I would like to start an organization that helps people to class action sue some of the landlords , real estate investors and mortgage companies for ownership of the properties , people pay the taxes, pay the mortage , pay profit to the landlord and to the mortgage company, essentially people support their employers, their landlord, and the banks, and their own family, and all the businesses in the community that they consume from and can barely live.
FedNow + postal banking = joy!
Biden should do for shared spaces what FDR did for the National Parks. Shared spaces have been monetized or destroyed, isolating everyone.
Housing should be a much larger priority, as you said.
Baby bonds I hadn't thought of, but reversing the pay to play aspect of child-rearing in this country would be a HUGE deal.
Your youth , energy and the time that you have is a superpower . Put the maximum you can into a ROTH IRA . My children started with jobs at the supermarket investing 6000.00 a year in their ROTH . In their 20s they now have close to 100,000 each . Stay out of debt . Debt is slavery . Get a ROTH . That is a father’s advice to you .
You tie a lot of concepts together in a cohesive way which I appreciate. I'd be interested in hearing your thoughts on Marxist economics in general. If you want a reference to a modern Marxist economist who is arguably at the top of his field, I'd recommend Paul Cockshott.
"When the kid is popping out of the mom, give that kid a bond" this would be a fantastic bumper sticker
Agree with mostly everything except the idea of financial app consolidation. Its really not hard to find one of these apps to use. Having one super app just gives more centralized control to whoever owns the company and allows them to abuse that power. Also it gives bad actors a singular point of failure to exploit.
Please keep making videos, you're rants are great lmao
More people need to be working to dispel the myth that home ownership is a viable path to wealth. That misconception is a contributor to so many issues.
The government needs to take home ownership down several notches by eliminating its incentives around it. Force home ownership to stand on its own merits and either people will get really irrational about it or maybe absent the government's meddling in that market prices will correct and homes would go back to being consumable assets people live in rather than people's bet for becoming wealthy.
I hope you feel better. I would ask you to ask yourself did you have many deadlines to complete certain tasks in a short amount of time? If yes then try and reduce those if you can. Large workloads cause alot of stress and nervousness.
I love the Federal app idea. So many people have these baby bonds and have lost them. They don't know where they are or how to access them.
A cashless economy where all currency is managed by private companies is absurd.
Good anology between panic attacks and the economy. I think young people don't want to work in anything that is difficult or much less that pays less. They find it embarrassing as everyone is watching social media and wants a easy charmed life. I call it the death of risk
Loved the vid! Keep it G 😈🔥
I'd love a fed now app. Might put some pressure on PayPal, venmo, cash app, and all the other payment options to do better.
Another great video. Keep it up.
The good is good only for stock owners. For us commoners living to support the top 1% and for no other reason life sucks. How do you save, if you can't pay all of your bills as it is now?
Kayla I do own stuff.
I own like 5 heirlooms and OG skins in Apex and still have 4k worth of premium tanks in world of tanks!
You don't necessarily need to own a primary residence but owning assets like Real Estate is crucial to building wealth
Honestly, I loved it!
There will be a large shift w housing down the road. Boomers move on, but we build a lot of housing now to try to combat the issues today. Will be interesting to see
At 30 years old I am starting to 'join' the system and I think these people are just stuck in a small reecession like what we saw in 2018. The new hires are stuck but my career has exploded once I got enough experience to leverage myself to new jobs. Hopefully the low end of the market ticks up but I think people have to realize they are getting their bad vibes from watching too many social media videos. If you enjoy having a soup pot luck with friends you should not be screaming about the economy because someone else is in Cancun.
schizo alert
Kayla, I'm currently reading Doughnut Economics with my Solarpunk bookclub. Was wondering if you've heard of it or read it and if so, thoughts?
Kyla, not sure if this is a good question but has there ever been any other time in history where one generation holds so much wealth that the usual flow of money and capital circulation is so bottlenecked that it stunts the growth of other generations? And if so what policy initiatives can be taken to have this be a soft landing and not a french revolution type of situation? So many in our age group are calling for some kind of change but I can’t fathom why the top earners don’t see this as an abject policy failure to do more. They want to avoid a financial collapse, why not show up to bat?
I believe post WWII Britain. After WWII, the older generation in Britain, who had grown up and lived through the world wars and the interwar years, controlled a significant amount of the country's wealth. They owned homes and had pensions, while younger generations struggled with high housing costs and lower job security.
new subscriber. thank you for all the information!
Ok I’m sorry I apologize, great video
Yeah we’re going to have to get rid of what we’ve got right now.
I truly appreciate your commentary and you have def opened my eyes to issues. The doomerism (being negative about everything) is something I struggle with. Everyone has access right now to "own" assets. Fidelity or Vanguard does a great job of being a one-stop shop. Right on your phone. 30 years ago (a blink of an eye in banking history) no one had ANY access to these markets. It takes 3 days to move money from your checking to a brokerage and its for FREE.
"A penny saved is a penny earned."
"Those that understand compound interest earn it, those that don't pay it."
These phrases have existed for decades and still hold true today. But you have to be motivated to understand what it means.
The dating example sounded like it hit close to home, hope you're okay!
Love your videos also you have such a pretty voice. I fell in love listening
Things that objectively are good don't outweigh those which subjectively feel bad
Gotta Serve Somebody by Bob Dylan. Mammon is large and in charge. "Bow down before the one you serve" Nine Inch Nails. Spirits trapped momentarily in the material world, dazed by the flashing lights and brightly colored cloth, thinking that this is all there is. The rest is commentary.
Here what we should do. Congressional Term Limits & spend only what the government takes in. Period. Make sacrifices.
Brilliant I also believe that the lower classes are over leveraged on housing and should rather invest in stocks while buying their first residential home and about the FED app India already has UPI which has been successfully integrated in these mega apps that allow masses to invest in gold and stocks
Owning a home is how you build wealth
Energy prices have been on the rise. Gas prices in Calif are $5.50+ an gal up almost $1.00 in the last 3 weeks. There is no way that most the incoming generation even with a degree could possibly qualify to buy a house in California and many other states unless you come from money! If you purchased Govt bonds 3 years ago you are taking a bath now, just ask the banks that have been bailed out lately! Why not have higher taxes for Corporate entities and the wealthy seeing that they are able to benefit from the US infrastructure and lower the tax burden for the rest of the 95% of our population.
Curious if you've looked into India's financial infrastructure? Apparently it's next-level innovative (according to Tarun Chitra).
Numbers reports are Numbers reports.
Let's focus on buying power. How many people here are making more money right now than they ever have in their life- yet have less buying power than ever before?
FedNow Treasuries is a good idea
Ownership. Historically speaking, numerous studies have documented and empirically demonstrated the extent to which the lack of access to capital in terms of “money”, has persisted to the 2024 from nearly Disenfranchised/Marginalized Redlined communities of disadvantaged socioeconomic backgrounds color al
So, I asked my wife whats J&J - she says - Jay & Janet... I'm not the only one!
The marker board is in reverse with writing on it.
I am autistic and this is driving me crazy.
good video keep it up
Honestly, sometimes people want to complain for the sake of complaining. It allows them to feel like they are being listened to and validates their views. Not everything is a vibe session. Sometimes, it's just a personal opinion.
haha yes!
Okay, so on the Fed Now idea I see what you are saying in regards to making it easy for people to buy T bills but what happens when Governments start censoring the way people spend their money?
Also, I would like to argue that people have very easy access to the stock market today with apps like Robinhood. I think its a lack of education around investing and equity that holds people back from getting involved into wealth creation (also the fact that most poeple live paycheck to paycheck does not help).
To me the consolidation of apps and making things more centralized leads to bad actors taking advantage of the system in place that could lead to more issues down the road. Personally, I think the risk/reward is off
If housing is human right ( i agree with that) why are people and corps allowed to own more than 1 home, we dont sell parts of rivers because water is a right, why do we treat land differently for people to just survive
Also much love Kyla, hopefully you get better and better, and the panic attacks go away
Corps like Nestlé own significant water resources. So that has already happened.
Housing as a human rights doesn't need to mean ownership of a home. E.G. Works exceptionally well in countries like Switzerland where home ownership is uncommon and renting is the norm for most rich Swiss.
Love it :)
Stock compensation isnt socialism. Its just that you get some of your pay in stock.
Boxed breathing helped me manage my panic attacks fairly well, maybe it could help you? Also, it seems a bit scary to me that over 50% of Americans are relying on what is effectively an organized pile of sticks to be their main builder of wealth. Speculation on a organized pile of sticks as a main vehicle to build wealth to be more accurate. After having helped build houses, I don't see what the big hype is all about surrounding owning (a big) home or the wealth that it can supposedly bring. They seem more parastic than anything because they always need maintenance. There has to be a better way.
I can see why the fed now "super app" would be controversial but it sounds like very other country already has it. over coming lobbying will be a massive road block unfortunately.
Awesome video! I feel like we’re so conditioned to have this negative connotation with socialism and socialist ideas, but hyper capitalist systems have an equal amount of issues. I love this pragmatic take to integrate some socialist ideas into out economic system without forgoing capitalism as a whole. It’s a balancing act every yin needs it’s Yang.
No