Hey, I have something to share it took me 9 hours to type in my notes, and I think it has a good message. Do you have an email I can send this? I would appreciate it.
illegal aliens can actually be "deported" very cheaply. Effective 1 Jan, any illegal alien shall be incarcerated for two years and all property shall be confiscated by the State. 12 million illegal aliens will self deport very quickly
Guy's with all the respect, but I don't want to desepointing you - America IS NOT AND NEVER WAS A DEMOCRACY. America is one party ruled country that have to factions the Left and the Right a singular dualist entity. Is an OLIGARCHY RULING CLASS that in time relaxed the rules to cool down the situations. Is not such of thinks as free election - is a selection of a person that masses FALL IN LOVE WITH - Americans are FAN LOVERS - from sports to entertainment up to Politicians, and this is done behind some close doors 🚪. Banksters Mobsters rule everything, and they wanted all those are your DREAM SALERS - WHEN YOU FEAKE NICE AND CONFORTBLE they will sheik your DREAMS INTO NITEMARE . Only In America 🇺🇸 they looking for SUPER HEROES to help the masses I wander WHY? 😂😂😂😂😅😅😅😅😅😢😮
I’m tired of this, if I mess up, I’m broke and I’m on my own if they mess up they get bailed out by government spending from my kids future taxes. It’s all garbage!
The government will run out of money to prop this up. Everyone knows we are already out of money but the tide is still high. Until the tide goes out (after the election) we won’t know who is naked underneath.
Not retiring till 70? Oh hell no, I retired last year at 52, liquidated and left the USA. I’m living a much better, cheaper life now and I’m much happier. Spent 22 yrs in the REO corporate banking industry and I was exhausted and mentally defeated. I have morals and values and I wasn’t going to work with crooks anymore. F the banking industry, they are awful!!
Not that long ago a single salary was enough to pay off a mortgage AND our kids weren’t in childcare 60 hours a week. This is bigger than money! Society is broken
It's because you wanted a house that was 3x the size of your parents house. It's because you can't stomach driving a car that is more than 3 years old. It's because you can't live without a $1300 cell phone. The list goes on and on and on.
@@MrSteeDoooh, so small apartments are cheap cause nobody wants them, right? Nope. I'd also love to see this flood of 4 year old cars that are on the market, defying the statistic of average lifespan of registered vehicles being 12 years, and getting older year over year. Your argument is invalid
@@jimbartosevich498 I am not sure what you are talking about. If you can't find an acceptable 4 year old car then you buy a 5 year old car or an 8 year old car. I drive a 2006 Scion. I never said a word about apartments, cheap or not.
Adam is 1000% correct. We HAVE to balance national/domestic concerns with the “free market.” Many foreign buyers are from countries WE cannot buy in! Reciprocity is self respect. We are a nation with an economy, not the other way around.
America is so stupid 🤦♀️ Americans was teaching everyone, now American education is the worst, letting foreigners to cross borders, invest into US business 🤦♀️ send money to other countries without checking passport 🤦♀️ open accounts in banks without residency or citizenship 🤦♀️ vote without citizenship 🤦♀️🤦♀️ AND!!!! Americans are most hated people around the world, the whole world wants US to collapse, dollar to disappear Maybe time to think
I was glad to hear them all play off each other.. i think Beau Beau maybe wisened up Adam up a little. adam is naive about who’s running this take down America operation.. it’s not organic.
I disagree. I’ve listened to Todd many times and has “boots on the ground” realism. I believe everyone brings some valid contributions to the table from varied life experiences. I find the interaction between all not negative at all. I guess it’s a personal perception thing. As my old man would say “you can please some of the people some of the time, but you can’t please all the people all of the time”. I’ve found Todd to always be on point. Definitely not taking any thunder from Adam as I love his work too.
My Mom worked at a factory her whole life. Her social security is 1100 a month. She only has medicare. She lives with my Uncle who gets just about the same. Without each other to help pay the rent they would not be able to live at all in their mobile home. It takes two of them to just barely make it.
My sister cleans houses and has zero savings. She's going to be living with her son or she'll be homeless. She made it clear I'm not welcome after a recent visit and she doesn't want anything from me, so nothing she will get.
19:01 definition of middle class: I grew up in the middle class it's this: Dad has a steady job with a pension at retirement. Mom worked part time to make ends meet. Family home was purchased for about 1x my dad's annual salary (that's not because he made a lot, but because houses were a LOT cheaper). parents were careful with money. when an appliance broke, we had it repaired. one vacation each year to grandmas, camping and fishing (cheap). went to Hawaii once. food on the table was never a question, but we ate low end beef e.g. round steak (the reason I hated steak until after college), hamburgers etc. rarely went out for dinner as a family--almost never, and if we did, it was for a very special occasion. hand-me-down clothes and athletic equipment most of the time Christmas and birthday was the only time you got "stuff". usually got some new clothes (not a lot) at back to school time. never bought a new car, but could afford nice used ones. generally didn't feel poor, but definitely didn't feel well off. I could go on...
@murdog5253 You just described my exact childhood growing up (I'm 60). Sure wish my parents were still here so I could talk to them about all of these things.
It didn't require a lot of braincells to be middle-class back in the day (70's,80's,90's). College degree? Sure that's a automatic hire with great benefits and pay. Wanna open a business just selling Vinyl, CD's, etc sure that's enough to raise a family. Shoe sales men yup raise a family. Assembly line, why not Before you just had to show up and "Work Hard" Now you have to "Work Smart"
@@NikeMikey101 I knew no lack of good folk back in those days that had grade 10 educations that had good paying jobs with a pre-funded defined benefit company pension. I was lucky to get a job like that in my 40s and got to retire when I was 58 with that type of pension. Not many outfits offer pensions like that anymore, but I know someone that is a transit operator that has one only because the company he works for has a good relationship with the union.
This exactly how it can be, but people love living beyond their means nowadays. If a father gets a trade job making, say, $35 an hour, that's $5,600 a month. And if the mother gets a part-time job bringing in a quarter of that, it's $7,000. If a couple can't raise a child (we're not on farms anymore) on $7,000 a month, something is wrong with the couple, not society.
I was a salaried employee, with overtime, for a wholly owned subsidiary of The National Forge Company form 1979 until 1992. Then my plant was sold to a U.K. based holding company. I retired from that plant in 2014. My promised pension was $1600 a month plus full medical and dental. I get $143.37 from an annuity bought form supposedly excessive pension contributions, taken out in 1989 plus $211.73 monthly from Pension Benefit Guaranty Corporation. No benefits whatsoever. How do you think I feel when I hear about some people getting full pension bailouts? I've been retired 9 1/2 years now. Total loss of $141,918.60 plus lost benefits, so far. Every year I get a bigger shake down for paying public employee benefits, though. Where is my bailout?
Sorry that happened. I ‘ve heard that hedge funds buy out companies then dig out the value and before long the company is bankrupt. It just recently happened to The Red Lobster. Sad and I am appalled and disgusted by the greed I see from the stock market industry. Yes
The oligarchs and corporations need to be held accountable. Imagine the position American was in in 1950, the wealth and power by comparison to a destroyed world from war. Remember China was destroyed from war after war for more than a century there was nothing left only to enter the cultural revolution in the 1960s. China over the past 3 decades surpassed the USA with economy and technology they brought 800 million people out of poverty with national rail and roads, stadiums, the finest airports in the world, it just goes on and on. The rich in America need to be held accountable for the wars and corruption, the colossal failure of their leadership.
Something is definitely wrong in the US when an Asian dictatorial country with a one party system is bringing more people out of poverty nowadays with its version of capitalism than that of the bastardised version of capitalism in the US and its supply side economics and its BS trickle down strategy. To think China's economy was the size of the Netherlands, until the US used big government to interfere in markets to force businesses to shed domestic manufacturing. I recall when Bush assembled business leaders to inform them his DOJ would support lawsuits against those for not taking advantage of cheap foreign labor. The GOP passed a law to make taxpayers pay for building new factories and moving equipment to China.
@@dennisanderson3036 After president Nixon visit to China in about 1978 America took China by the hand, our companies helped China raise the peoples standard of living, over 30 years. But the CCP stole our treat secrets, owner 51% of our company's, could not buy land. When China company like Alibaba become too wealthy CCP took the business away from the owner, put In CCP members and now all foreigners or leaving. The Chinese people are getting screwed. Do a TH-cam search on China and be glad your a free American.
I was a masters level registered dietitian, nutritionist private equity took over one of the places that I was working and everything was cut to the absolute bone. The only supplement that I could get was ensure I couldn’t get things that I needed for the people for whom I was responsible and they don’t have enough of the certified nursing assistance, which is another reason why they’re not walking them to the bathroom because, they just don’t have people enough to do it because private equity is cut it private equity has to get out of Health care that’s all there is to it. This started back in the Reagan administration in terms of making healthcare business and it’s just declined. Declined declined ever since then.
Adam is right...we need to at least have a temporary 2-yr ban on foreign investments and LLCs. Emergencies always need attention first, we can get back to capitalism later. When Katrina hit, everybody was scrambling to make sure people weren't drowning, nobody was asking what the labor market in New Orleans was. Millions of people living in RVs and veterans living on the street in the freezing cold is an EQUAL emergency too.
Here in Australia, the median house price is $779,819 while the median income is $65,000. This equates to a multiple of x12 median income. Rent is even worse. The average rent is $627 per week or $32,604 per year, so just on 50% of median income on rent. I live in a very popular tourist destination town and it seems to me that the much anticipated wave of recession has finally hit just in the past 3 weeks. Five restaurants have closed due to costs, and now bookings are deathly quiet so they're all madly trying to figure out ways to get bookings but little is working. The only people with money are Baby Boomers as everyone else is hocked up to the eyeballs. Geopolitics guy Peter Zeihan says were in for a housing crash so bad it will be a 5 year depression and I agree. It's just ridiculous. Shits going to get real, real fast.
@@NYCHairguru not just that, the Boomers had free University, plenty of jobs, low tax for workers, cheap housing (income ratio of around 2.1) and a whole lot of other advantages that that GenX/Y/Z didn't have. We've been royally screwed over.
G'day mate, yep it's real down under now. Was just watching Sky News too. Apparently we need defence 🤑 urgent. China is about to attack either Taiwan or Phillipines.
1:18:00 the remote work thing is very interesting. What I think most people realized is just how much time is wasted going to office. The 2 hour commute per day, unpaid hour lunch, idle chatter, not enough to do but pretend to look busy. Lower productivity due to lack of rest. Most office job can be done in 4 hours a day. The rest is just wasted due to inefficiency
This is part of the problem outdated business models processes policies protocols infrastructure it is a Designers nightmare a complete mess we know how this tangled mess happened but untangling the mess just keep up the dialogue conversations need to be had and we do have quantum computing but first we must deal with our collective post traumatic stress disorders allow the hurt and pain to clear the thinking pathways
The only way out if this is mass non compliance. When we refuse to participate in their schemes, it all ends. As long as we remain divided, this can't happen.
Here in Orlando, Florida, the new build apartments are offering concessions but, the rent prices are not coming down. I looked at several new build and they told me that I needed to make 3 - 3.5 times the rent, which are averaging around $1690 a month for a 650 square foot - one bedroom apartment. How is that doable when half the population here barely makes half of what the income requirements are. Yet, lots of new apartments sits empty because people are not qualified income wise. Where they can afford to rent there is little to no availability or it’s not in a good area of town. This isn’t sustainable for much longer. I’m being forced out of here as I don’t make enough to qualify for a freaking 1-bedroom shoe box. So much for being a veteran and no unfortunately, the Department of Veterans Affairs can’t and will not help as there is more demand for help than there is availability.
@@billmoyer3254 Oh My God❗ You just don't get it. U must be privileged. Did U just say: "JUST MOVE". Are U listening to these gentlemen. Hey, are you Middle Class, Lower Class, or part of the 1% ((RICH)) = Millionaires or Billionaires Hey, there are Nooo more Middle Class. It's just lower = (poor) Class, & the Rich Class. You think moving we'll just fix the problem? Ha 😂 😂
@@billmoyer3254 In the early 70s, my wife and I worked. I worked full time, she worked part time. We had just gotten married. At the end of the year, we had to pay. We had a car, house. Now that I've retired, I have no house payment but the taxes are now 70% of my SSI. I can't buy a car and the utilities take up more than the 30% I have left.
People need to get rid of useless debt stop buying a NEW car every 2 or 3 years, we have been driving the same truck for 24 years and driving the same car for 18 years no debt since 2009 the currency we save we buy precious metals win win
Agree I don’t even have car now, soooo good, no insurance payments no mechanics lying into your face about everything needs be fix in a car Because I live abroad and using extremely convenient public transportation, it has GPS, you can check time-route-stops, everything! America pushed people into cars, people got fat, lazy, not walking, not communicating, in depression mood… it’s all crazy
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless." - Thomas Jefferson
Mr. Jefferson never said that. The word deflation is from around the 1890s, a bit late for Mr. Jefferson. "The earliest known use of the noun deflation is in the 1890s. OED's earliest evidence for deflation is from 1891, in Pall Mall Gazette. "
I like Adams definition of middle class. Its what I remember growing up in the 60s. I fear we, as a society, have our priorities all wrong which will, and has thwarted us from achieving a comfortable life. We want instant gratification so credit has allowed us to get indebted. We want to keep up with the Jones furthering us into slavery. And greed is everywhere, we want what we haven't worked for. And as was stated, were inundated with information about everything and take it all as factual. Its like we don't think for ourselves anymore, we allow others to influence our thoughts, our fears, our desires and we run our lives by feelings rather than facts.
Even this podcast. I listen but not everything these guys say is gold. In fact there are times when I think they are trying to scare us. Then I become wary and start to scrutinize the verbiage. I am wary of financial advisors who charge high fees. I am wary of real estate brokers who take advantage of gullible buyers. I am wary of bankers for not demanding the buyer stay in their debt to loan ratio. (One did this to me once and she did me a huge favor.)
I love these discussions. Adam is very knowledgeable! I had got more of an European intellect than American as he is so knowledgeable and soft spoken. I am watching this from London. We have a very similar situation here.
Todd and Adam, when you guys were discussing the work from home option and if it’s good or bad, both of you guys mentioned that AI and layoffs will occur and people should fear losing their jobs. Honestly with the economy the way it is and has been for too long Gen Z and Millenials could really care less about layoffs and AI intervention our generations are kind of tired of being pooped on working for companies who could care less all while we get paid less. You guys mentioned taking homes when people stop making their payments the same concept that would cause someone to do that is the same concept about employment. Younger generations don’t have enough money for home ownership or for children or to pay back the debt they have if they have no income they will live with parents in paid off homes or they will live in tents I mean the options are endless younger generations are very disgruntled about cost of living compared to wages along with quality of life in America they have nothing to lose and I think we saw that during the pandemic with the rioting young people just are not feeling great about America so threats of lay offs and AI really doesn’t do much to motivate them to get in line. It’s sad times we are living in and we all shall see😢
Cliff brings a unique and relevant view to this discussion. He did interrupt Adam a bit much in the first half of the interview. He must have read the comments as he did it far less as the discussion progressed.
I'm grateful for such conversations like this. So few Americans are aware of what is going on, so it's almost impossible to have such discussions outside of channels like this.
This issue has been growing steadily for decades. Everything boils down to sacrifice and there are only 2 kinds. Work, the sacrifice of the present to the future and Debt, the sacrifice of the future to the present. We've been borrowing from our future too much and now we practically speaking don't have one anymore. And there are only 3 ways to pay a debt, through blood, sweat, or tears. Tears, you cry and hope someone else comes to rescue you from your problems or cry as you watch everything fall to ruin. Sweat is hard work, at a rate greater than the debt while not accruing any more than the bare minimum necessary to survive. Or blood, where you take from others what you owe by force or die trying. Work is the only way truly to escape this cycle, tears and blood only create more debt in the long term.
A huge missed talking point, with the reduction in labor/workforce for whatever reason, means less tax receipts and ultimately less spending across all sectors. Thats bad for companies
I’m so happy that i was born in poverty, was raised in poverty, and have always lived under 20k a year, the last 10 with kids. I’m 36, and I didn’t get my first indoor bathroom until I was 12 years old. Now I’m a homeowner, despite any child support and living on 20k as a waitress. I have more than I’ve ever had, but believe me when I say it’s a week to week struggle. But, I know how hard it can be, and I know how to survive in conditions that would horrify the average American salary family. We’ve been so spoiled as a country, look at other parts of the world! Do you have any idea how lucky we are to not be in war torn countries, no power or food? I’m spoiled just by being here,despite being one of the poverty level citizens. We dug our hole, intentionally or not, and I don’t see how we can do that without paying in it one day 🤷♀️
No, like you said, we must take control of our own lives and control our own financial destiny. If we rely on our government, we are absolutely doomed.
I have been watching Todd's podcast for a while now and also Adam's for some time, so it's great that Adam is a guest on here now. Next is for Todd to get Nick Gerli on (I have seen him with Adam already a few times). My three favorite podcasters for these subjects. You guys all speak for people like me and my wife: working professionals that still can't seem to make sense of this housing market (CA). We are waiting out the market and its with your podcasts that I am able to ground myself and not listen to the mainstream media agenda.
Todd and Adam are the voice of the people. I'm glad a few people are speaking out about the plight of those who are getting crushed in this economy. I think it's only going to get worse, but at least there are people at the top looking out for those at the bottom. 🙏
What I love and respect about Adam is to this day I cant tell if he "is" a democrat or republican leaning man which is awesome. He is reasonable but he is also a man who cares.love him
"The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented." -Sir Josiah Stamp, former Bank president
Yep. Just look at how the Democrats saved the Republicans from Trump. Is not the way that most people are thinking. First, look at how Trump got elected. A voter base that is happy with their representation doesn't choose the outsider in a field of 16 candidates in their primary. It's not the first time, either. 2012 saw a huge anti incumbent sentiment in that party. Then, look at Trump's early actions, before the Russia hysteria hit peak. His first actions were to call all the Republicans bluffs. Here's some examples. "Repeal and replace Obama care." That's been the motto since Obama care was still in debate. But when Trump said it, suddenly Republicans were against it, saying they had "nothing to replace it with." "Build the wall." Again, Republicans have spent the entirety of Obama's time in office whinging about illegal immigration. But as soon as Trump said "let's do that thing you spent the last decade saying you wanted to" suddenly they were against it. How many times do you think they could handle being called out like that? How often could their party survive being exposed for lying about opposing the Democrats? So, in come the Democrat party, doing damage control by distracting us from the issues by attacking Trump. Another example is Liz Cheney. Republican voters have been trying to oust the Cheney family for a long time. When they finally succeed, instead of Democrats celebrating the fall of a foe, suddenly they liked her? Yeah, there's a reason why Democrats don't want to see new blood in the Republican party.
All of you all just don't understand what's coming. We've had two past crisis less than 20 years that's created over half our national debt, and right now we're heading toward the greatest multiple crisis that the world has never seen; from average people credit card debt, real-estate crisis, along with banks, and commercial & smal businesses failing. This doesn't even include the wars on the horizon with other superpowers wanting to take control of our financial system. 🤔
that ppty tax trap caught me unawares: I boutht 2 ppties during the great bubble of 2003 the NINJA loans etc. the tax was a mere $1,600/yr - little did I realize it was a sr citizen with other exemptions - the city raised the valuations during the greenspan funny money boom of 2003 and my tax went to $7K/yr! what a shock, the tax was MORE than the mortgage - and I LEARNED : "NO WONDER the property values were SO LOW, SO DEPRESSED! the city was sucking the blood of its residents! amazing (depressing!) economic lesson!
I'll need help if I'm going to make it through this. The ETF and stock markets are still pretty volatile. What's left of my $170,000 portfolio now isn't looking good; how can I capitalize on the market?
Many people are still getting fantastic returns on their investments during this time. Simply maintain a strong sense of reality or ask for professional assistance.
A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure
Could you provide information about your advisor? I'm interested in using my boosted cash flow to invest in stocks and alternative assets to meet my financial objectives.
Greetings Tod, Adam and Cliff, One important question we might want to ask ourselves today is why does the US have to desperately grabing any uneducated immigrant and pay those immigrants to come to the US? We see developing countries like Malaysia, etc. who require immigrants to have almost $10,000 MONTHLY INCOME plus a large bank deposit to immigrate to their country! The US is paying the uneducated and poor to come to the country? Mexico now requires a monthly income of over $4,400 US, etc. What has happened to the US that nobody will have us without being paid to come to the country! Let's talk about it! What happened? Hello! Let's do a few programs on this issue!
The elites are always looking for a cheaper labor class to exploit for pure profit, with zero responsibility for any of the negatives it brings to said society
Warren Buffet said it best in his 2024 Berkshire..."If corporations and the 1%ers actually pay their fair share of taxes without loopholes, The rest of us would not need to pay federal taxes and social security would never run out of money." Justice is definitely coming!
In the 1950's and 1960's middle class was the nuclear family with a single bread winner who could afford a home, had vacations, one car, a stay at home Mother, health insurance, a pension, and could save for retirement. We have more stuff but much less security and quality of life. The race to the bottom from globalization.
How much of the national debt is from recent tax cuts (mostly gains for the wealthy) and who stands to profit the most from that debt, or rather the interest on that debt? Also the wealthy. Cant forget all those stock buybacks either. Talk about inflation.
On a quick note and observation, after the ‘08 crash traffic disappeared in the Bay Area,CA. Now the traffic is so congested you have to plan when you can leave your house. Usually it is before 6 am and go home after 7pm,unless it is LA and traffic is 24/7.
Kristian I agree. The comments on this podcast blame government, business for not be able to afford a home. They can’t see that it is their fault. Because they don’t know basic finance. They go out to buy a house way the hell out of reach based on low interest rates. And if rates go up they could owe more than what the house is worth. Or never be able to sell because people would not pay. As a boomer I have seen people do really foolish things in regard to real estate. Mostly in paying too much. Not realizing property tax and insurance will go up too. But it is easier to blame someone else.
As someone who works in healthcare the reason for using adult diapers is because many people in care units do not have the ability to recognize when they have to go to the bathroom also walking is difficult for them and many workers have gotten injured helping those with unsteady hair go to the bathroom it’s a bigger issue than their dignity it’s worker comp staff retention and safety it’s a lot to unpack. 😢
I'm 60 and have never used self checkout and I will never use one. Remember, They still have a customer service person around. They come and still check me out or I just leave. If I go out to eat, I want serviced. No Buffet for me.
Shhhh....be careful about uttering anything against Israel.The secret agency MOSSAD of Israel have even infiltrated our Secret service who is responsible for security of POTUS. Have you people been noting that EVERY presidential candidate from Obama down, has a word about saving and helping Israel? My take on Trump assasination attemt? The deep state/ zionists /illuminati needed to send a clear message to Trump..: Better dance to our tune ( like all prior US presidents) or else!
Sure wish I was wearing an adult diaper last week when I opened my annual escrow letter because my Colorado homeowners insurance doubled, literally doubled. I live in the foothills with higher fire danger. 10 years ago it was just under 1k a year. Now it’s $7000.00.
What do you think happens when you believe in living wages for every job? Living wages = no middle class. You’re either a rich elite or poor.. FYI, the current rich elites want you to be poor. Why, because you become a subject of theirs.
Correction this is my second house now. They were wrong both times. The banks numbers for estimates on property taxes seem to be off often. The last owner paid 5925. They estimated ours would be 6100. It was actually over 9000 a year.
I do... And I will. And I thought I was crazy for renting for 5 years... In 6 months I will not be renewing my lease. I will live rent free for the next 5 to recoup. Thank God I stayed single and no liability to anyone but myself and my dog. Did some stupid things minor setbacks and but luckily my business is recession proof. I remember my parents lost everything in 2008. Lord Jesus Christ will keep you as he has kept us and those who believe and call upon him.
House, education, vacations/leisure, retirement - it’s a great definition of what middle class was when we were kids. A few counterpoints - house was 3Br 1Ba and 1200 sq ft. Education was vocational or state school (at least in the Midwest where I grew up). Vacation was an 8-hour drive to grandma’s or a camping trip to the lake. My mom didn’t get a credit card until I was in high school. It was just for emergencies or special things. We bought used cars. These days everyone wants everything now, so we have debt for all of this in our 20s, and debt has increased the price of literally everything. Houses are bigger, cars are disposable, education is predatory (10K tuition each year just for a state school). We all have a “household payroll” to make every month. The solution - higher rates. Just like the early 80s. Incentivize savings. Penalize debts. Lower asset prices (assets are held mostly by the rich). Powell needs to double (or more) the Fed Funds Rate.
In the 70s in Canada, my girlfriend's parents both had minimum wage jobs, an owned owned a small house, had a used car, and she and her 5 sisters ate well. We though they were poor, which they were by Canadian standards in those days. How times change. My wife lived in Toronto in the late 70s, had no credti cards, and worked in retail making a tad over minimum wage; had a nice apt, wore designer clothes. and banked a day's pay a month to put towards college. She considered herself low income. Bring those higher interest rates back.
Great video. Well, my DH and I retired early on a remote island at ages 42 and 35, respectively. Yes, WE tested the water abroad, tried it on for size, and then WE returned to the USA and invested in real estate...for a while. But, not so long ago, WE read the "tea leaves" aka "the handwriting on the wall" and quickly realized that it was time for us to SELL and GET OUT....get ready for our REAL retirement abroad. Thankfully, our profit from that sale was $60,000 USD...which in my opinion is a whole lot better than hanging around the USA...and experiencing ONLY foreclosures or another ECONOMIC DEPRESSION which equals walking away with little or NOTHING! So now...WE can call ourselves RETIREES... and head back to MY FARM...abroad... go and plant some food to eat...while WE learn how to GO FISHING at the nearby RIVER/ Caribbean Sea. Your videos are very helpful and informative. Many Thanks!
I'm a retired widow, and my groceries and utilities have tripled here in Florida. Thank God I have a government pension. If SS goes I'll survive. I really don't know how young families are surviving.
Please We pay about 15%! How? Your employer pays 1/2. BUT the employer COUNTS that as part of your gross compensation...so YOU pay ! And SS is a TAX! Not a pension. Just funny money
Commercial real estate includes apartments, strip centers, small business owner buildings and so on. Many banks have little exposure to downtown office buildings.
The deficit starts and ends with the people, oligarchs, and corporations/ financial institutions that have taken it all since the time of Ronald Reagan- they are the ones that need to bail out the system.
I sold SFH in May 2016 located in a super zip code in MD (AA County). Bought in 2003 for $390k, spent $100k, sold for $625k. Gained $135k in 13 years. Moved to Ponte Vedra FL & rented awaiting RE correction. Ended up back in MD (same area) a couple years later also renting as RE prices were even more in a bubble. I’ve been renting 4500sf water front home in a super zip code at $3200 month. It was the most expensive rental in 2018, now its the cheapest. The main reason I rent is this is the most ginormous RE bubble EVER and when it bursts/explodes it will drag the whole mess down with it. Next reason is my last high schooler in a true blue ribbon high school just graduated. I have saved about $200k in the last 8 years since selling my SFH in 2016. My thought now is this bubble and eminent correction may be deep enough that I could be a CASH BUYER w/$200-$250k!!
Todd, please don’t have Cliff on anymore. I prefer to hear Adam and his vast knowledge not someone who is not the expert take away so much time with comments that are irrelevant. I feel there was a lot of important information that wasn’t discussed. Interruptions when Adam is speaking is very annoying.
I actually liked the fact that Cliff was giving a little pushback and he was steadfast in his opinions.. Adam is one of the best in the sector. However, if I did have a qualm is that sometimes he tends to sit on the fence too often.. Cliff brought a different perspective which is a good thing
i loved Cliff.. he is awesome and I think has a 30,000 ft view of what is going on. Adam is snipping around the tail of the snake which is attempting to confiscate wealth from the middle class. Cliff is looking at the head.. Todd is somewhere in between.
Made some rush decision after My husband died moved down south, bought a house that needed lots of repairs lost a lot of money , I dont know if I want to stay , thinking maybe buying a small place that I can airbnb while I am not there, Not sure what to do, intrest rates are too high
You cant go out anywhere without someone flipping around a screen with "what would you like to tip? 10% 15% or 20%" My rule is 0% if 0% service was given. Companies need to pay their employees not try to extra charge/pass the buck on to the consumer.
The student loans being forgiven are largely for people who went to schools that later were deemed corrupt, or weren’t accredited. I’d be interested to learn under what conditions those loans were forgiven.
There are hidden messages for instance discussion about commuting in Silicon Valley hello there are hardly no grocery stores compared to the dense population
1000% Cliff, regarding the definition of middle class has not having a stake anymore. I spent my first 50 years doing the right thing and kept getting screwed and ruined by people who never paid for their mistakes because they apparently don't have to with this diseased system of economic subjugation we have now. So yeah, screw this place until there are drastic and irreversible changes from the top down. Preferably with thousands of arrests and dozens of executions. And at this point guys, I don't really care how it happens as long as it does. My life's already mostly over and the concept of the middle class was just a damned lie the whole time.
Enjoy two free weeks of Adam’s premium Substack: www.thoughtfulmoney.com/sachs
Hey, I have something to share it took me 9 hours to type in my notes, and I think it has a good message. Do you have an email I can send this? I would appreciate it.
illegal aliens can actually be "deported" very cheaply.
Effective 1 Jan, any illegal alien shall be incarcerated for two years and all property shall be confiscated by the State. 12 million illegal aliens will self deport very quickly
Guy's with all the respect, but I don't want to desepointing you - America IS NOT AND NEVER WAS A DEMOCRACY. America is one party ruled country that have to factions the Left and the Right a singular dualist entity. Is an OLIGARCHY RULING CLASS that in time relaxed the rules to cool down the situations. Is not such of thinks as free election - is a selection of a person that masses FALL IN LOVE WITH - Americans are FAN LOVERS - from sports to entertainment up to Politicians, and this is done behind some close doors 🚪. Banksters Mobsters rule everything, and they wanted all those are your DREAM SALERS - WHEN YOU FEAKE NICE AND CONFORTBLE they will sheik your DREAMS INTO NITEMARE . Only In America 🇺🇸 they looking for SUPER HEROES to help the masses I wander WHY? 😂😂😂😂😅😅😅😅😅😢😮
I would Really Like To See The Government Live Off Of $1,200 a Month Especially In Washington State.
I Lost My Bonuses When The COVID-19 Pandemic Hit
Employers can run their own businesses and do the work by themselves. Who keeps their businesses running.
I’m tired of this, if I mess up, I’m broke and I’m on my own if they mess up they get bailed out by government spending from my kids future taxes. It’s all garbage!
Everyone gets a bailout equals buy more gold as this system ends and folds into a new one . That’s how you become un tired . But I’m tired too
Please!!! Do you really think this government is going to to bail out these kids…all Political theater
Democrats-take from the Middle Class and give to the poor'
Republicans-take from the Middle Class and give to the rich
The government will run out of money to prop this up. Everyone knows we are already out of money but the tide is still high. Until the tide goes out (after the election) we won’t know who is naked underneath.
The Right and Left need to UNITE against The Corruption
Not retiring till 70? Oh hell no, I retired last year at 52, liquidated and left the USA. I’m living a much better, cheaper life now and I’m much happier. Spent 22 yrs in the REO corporate banking industry and I was exhausted and mentally defeated. I have morals and values and I wasn’t going to work with crooks anymore. F the banking industry, they are awful!!
Where did you move to? I'm having the same idea.
Congrats! Escape the USA. Never thought I'd say that. : (
I am glad you are happy!
Yes, banksters for sure.
This conversation needs to address what Whitney Webb has uncovered.
@@kellyhood66 he went to cuba.
I'm so envious of your courage to make such an extreme life change. God bless you.
Not that long ago a single salary was enough to pay off a mortgage AND our kids weren’t in childcare 60 hours a week. This is bigger than money! Society is broken
Well the rich and greedy broke it.
It's because you wanted a house that was 3x the size of your parents house. It's because you can't stomach driving a car that is more than 3 years old. It's because you can't live without a $1300 cell phone. The list goes on and on and on.
@@MrSteeDoooh, so small apartments are cheap cause nobody wants them, right? Nope.
I'd also love to see this flood of 4 year old cars that are on the market, defying the statistic of average lifespan of registered vehicles being 12 years, and getting older year over year.
Your argument is invalid
I don't think everyone should afford to have a home. As the population gets bigger, then we lose more land due to excess home building.
@@jimbartosevich498 I am not sure what you are talking about. If you can't find an acceptable 4 year old car then you buy a 5 year old car or an 8 year old car. I drive a 2006 Scion.
I never said a word about apartments, cheap or not.
Gains are privatized, losses are socialized.
Communism IS juuda ism ✡
Long live Crony Capitalism !!
Adam is 1000% correct. We HAVE to balance national/domestic concerns with the “free market.” Many foreign buyers are from countries WE cannot buy in! Reciprocity is self respect.
We are a nation with an economy, not the other way around.
America is so stupid 🤦♀️ Americans was teaching everyone, now American education is the worst, letting foreigners to cross borders, invest into US business 🤦♀️ send money to other countries without checking passport 🤦♀️ open accounts in banks without residency or citizenship 🤦♀️ vote without citizenship 🤦♀️🤦♀️
AND!!!! Americans are most hated people around the world, the whole world wants US to collapse, dollar to disappear
Maybe time to think
Guys Adam is a varsity player, I’m here to hear him only. If you’re gonna give him a platform, let him speak.
I was glad to hear them all play off each other.. i think Beau Beau maybe wisened up Adam up a little. adam is naive about who’s running this take down America operation.. it’s not organic.
I agree he is the smartest one in the room and a guest that I want to hear let him speak.
The other two are getting emotional which degrades the conversation
I disagree. I’ve listened to Todd many times and has “boots on the ground” realism. I believe everyone brings some valid contributions to the table from varied life experiences.
I find the interaction between all not negative at all. I guess it’s a personal perception thing.
As my old man would say “you can please some of the people some of the time, but you can’t please all the people all of the time”.
I’ve found Todd to always be on point.
Definitely not taking any thunder from Adam as I love his work too.
What most don't know about Costxo, that government money cards are paying the customer bills. Look around, you will see it.
My Mom worked at a factory her whole life. Her social security is 1100 a month. She only has medicare. She lives with my Uncle who gets just about the same. Without each other to help pay the rent they would not be able to live at all in their mobile home. It takes two of them to just barely make it.
im very glad they have each other. thank God for that. God bless your mum
Damn. 😢
My sister cleans houses and has zero savings. She's going to be living with her son or she'll be homeless. She made it clear I'm not welcome after a recent visit and she doesn't want anything from me, so nothing she will get.
Hope you can help mom financially 😢
yes I do!
19:01 definition of middle class: I grew up in the middle class it's this:
Dad has a steady job with a pension at retirement.
Mom worked part time to make ends meet.
Family home was purchased for about 1x my dad's annual salary (that's not because he made a lot, but because houses were a LOT cheaper).
parents were careful with money. when an appliance broke, we had it repaired.
one vacation each year to grandmas, camping and fishing (cheap). went to Hawaii once.
food on the table was never a question, but we ate low end beef e.g. round steak (the reason I hated steak until after college), hamburgers etc. rarely went out for dinner as a family--almost never, and if we did, it was for a very special occasion.
hand-me-down clothes and athletic equipment most of the time
Christmas and birthday was the only time you got "stuff".
usually got some new clothes (not a lot) at back to school time.
never bought a new car, but could afford nice used ones.
generally didn't feel poor, but definitely didn't feel well off. I could go on...
@murdog5253 You just described my exact childhood growing up (I'm 60). Sure wish my parents were still here so I could talk to them about all of these things.
It didn't require a lot of braincells to be middle-class back in the day (70's,80's,90's). College degree? Sure that's a automatic hire with great benefits and pay. Wanna open a business just selling Vinyl, CD's, etc sure that's enough to raise a family. Shoe sales men yup raise a family.
Assembly line, why not
Before you just had to show up and "Work Hard"
Now you have to "Work Smart"
@@NikeMikey101 I knew no lack of good folk back in those days that had grade 10 educations that had good paying jobs with a pre-funded defined benefit company pension. I was lucky to get a job like that in my 40s and got to retire when I was 58 with that type of pension. Not many outfits offer pensions like that anymore, but I know someone that is a transit operator that has one only because the company he works for has a good relationship with the union.
This sounds familiar. I'm 54. My parents lived through the depression so they were very frugal. Im blessed they are still with me at 88.
This exactly how it can be, but people love living beyond their means nowadays. If a father gets a trade job making, say, $35 an hour, that's $5,600 a month. And if the mother gets a part-time job bringing in a quarter of that, it's $7,000. If a couple can't raise a child (we're not on farms anymore) on $7,000 a month, something is wrong with the couple, not society.
I was a salaried employee, with overtime, for a wholly owned subsidiary of The National Forge Company form 1979 until 1992. Then my plant was sold to a U.K. based holding company. I retired from that plant in 2014. My promised pension was $1600 a month plus full medical and dental. I get $143.37 from an annuity bought form supposedly excessive pension contributions, taken out in 1989 plus $211.73 monthly from Pension Benefit Guaranty Corporation. No benefits whatsoever. How do you think I feel when I hear about some people getting full pension bailouts? I've been retired 9 1/2 years now. Total loss of $141,918.60 plus lost benefits, so far. Every year I get a bigger shake down for paying public employee benefits, though. Where is my bailout?
Sorry that happened. I ‘ve heard that hedge funds buy out companies then dig out the value and before long the company is bankrupt.
It just recently happened to The Red Lobster. Sad and I am appalled and disgusted by the greed I see from the stock market industry. Yes
If you were entitled to 1600/mo how did that get taken away? I am not trying to be snarky I really want to understand
The oligarchs and corporations need to be held accountable. Imagine the position American was in in 1950, the wealth and power by comparison to a destroyed world from war. Remember China was destroyed from war after war for more than a century there was nothing left only to enter the cultural revolution in the 1960s. China over the past 3 decades surpassed the USA with economy and technology they brought 800 million people out of poverty with national rail and roads, stadiums, the finest airports in the world, it just goes on and on. The rich in America need to be held accountable for the wars and corruption, the colossal failure of their leadership.
Exactly. Much of the “wealth” “created” over the past few decades is blood money from betraying America.
Time for the traitors to pay up.
Something is definitely wrong in the US when an Asian dictatorial country with a one party system is bringing more people out of poverty nowadays with its version of capitalism than that of the bastardised version of capitalism in the US and its supply side economics and its BS trickle down strategy.
To think China's economy was the size of the Netherlands, until the US used big government to interfere in markets to force businesses to shed domestic manufacturing. I recall when Bush assembled business leaders to inform them his DOJ would support lawsuits against those for not taking advantage of cheap foreign labor. The GOP passed a law to make taxpayers pay for building new factories and moving equipment to China.
@@dennisanderson3036 After president Nixon visit to China in about 1978 America took China by the hand, our companies helped China raise the peoples standard of living, over 30 years. But the CCP stole our treat secrets, owner 51% of our company's, could not buy land. When China company like Alibaba become too wealthy CCP
took the business away from the owner, put In CCP members and now all foreigners or leaving.
The Chinese people are getting screwed. Do a TH-cam search on China and be glad your a free American.
I was a masters level registered dietitian, nutritionist private equity took over one of the places that I was working and everything was cut to the absolute bone. The only supplement that I could get was ensure I couldn’t get things that I needed for the people for whom I was responsible and they don’t have enough of the certified nursing assistance, which is another reason why they’re not walking them to the bathroom because, they just don’t have people enough to do it because private equity is cut it private equity has to get out of Health care that’s all there is to it. This started back in the Reagan administration in terms of making healthcare business and it’s just declined. Declined declined ever since then.
Adam is right...we need to at least have a temporary 2-yr ban on foreign investments and LLCs. Emergencies always need attention first, we can get back to capitalism later. When Katrina hit, everybody was scrambling to make sure people weren't drowning, nobody was asking what the labor market in New Orleans was. Millions of people living in RVs and veterans living on the street in the freezing cold is an EQUAL emergency too.
Good discussion. Cliff needs to stop interrupting and talking over Adam.
Here in Australia, the median house price is $779,819 while the median income is $65,000. This equates to a multiple of x12 median income. Rent is even worse. The average rent is $627 per week or $32,604 per year, so just on 50% of median income on rent. I live in a very popular tourist destination town and it seems to me that the much anticipated wave of recession has finally hit just in the past 3 weeks. Five restaurants have closed due to costs, and now bookings are deathly quiet so they're all madly trying to figure out ways to get bookings but little is working. The only people with money are Baby Boomers as everyone else is hocked up to the eyeballs. Geopolitics guy Peter Zeihan says were in for a housing crash so bad it will be a 5 year depression and I agree. It's just ridiculous. Shits going to get real, real fast.
That's basically same as California
@@NYCHairguru not just that, the Boomers had free University, plenty of jobs, low tax for workers, cheap housing (income ratio of around 2.1) and a whole lot of other advantages that that GenX/Y/Z didn't have. We've been royally screwed over.
G'day mate, yep it's real down under now. Was just watching Sky News too. Apparently we need defence 🤑 urgent. China is about to attack either Taiwan or Phillipines.
Sounds like Vancouver.
as crazy as the situation seems, it's magnitudes worse in Europe
1:18:00 the remote work thing is very interesting. What I think most people realized is just how much time is wasted going to office. The 2 hour commute per day, unpaid hour lunch, idle chatter, not enough to do but pretend to look busy. Lower productivity due to lack of rest.
Most office job can be done in 4 hours a day. The rest is just wasted due to inefficiency
This is part of the problem outdated business models processes policies protocols infrastructure it is a Designers nightmare a complete mess we know how this tangled mess happened but untangling the mess just keep up the dialogue conversations need to be had and we do have quantum computing but first we must deal with our collective post traumatic stress disorders allow the hurt and pain to clear the thinking pathways
I always love seeing Adam Taggart! He’s a wealth of knowledge
The only way out if this is mass non compliance. When we refuse to participate in their schemes, it all ends. As long as we remain divided, this can't happen.
If you got a stimulis check or a PPP loan you never back, you contributed to inflation.
Mr. Taggert is a class act! He's got the best guest list in the biz. I pity the poor bastards that bought his Wealthion brand. Long live Adam Taggert.
His Wealthion brand was already owned by someone else. That’s why Adam left. He wanted to be in control of the biz.
@@RobWilliams007 oops, my bad. Thanks for clarifying! Probably should've left that sentence out. 👍
Here in Orlando, Florida, the new build apartments are offering concessions but, the rent prices are not coming down. I looked at several new build and they told me that I needed to make 3 - 3.5 times the rent, which are averaging around $1690 a month for a 650 square foot - one bedroom apartment. How is that doable when half the population here barely makes half of what the income requirements are. Yet, lots of new apartments sits empty because people are not qualified income wise. Where they can afford to rent there is little to no availability or it’s not in a good area of town. This isn’t sustainable for much longer. I’m being forced out of here as I don’t make enough to qualify for a freaking 1-bedroom shoe box. So much for being a veteran and no unfortunately, the Department of Veterans Affairs can’t and will not help as there is more demand for help than there is availability.
Nobody owes you anything. Figure it out. Move.
@@billmoyer3254
Oh My God❗ You just don't get it. U must be privileged. Did U just say: "JUST MOVE". Are U listening to these gentlemen. Hey, are you Middle Class, Lower Class, or part of the 1% ((RICH)) = Millionaires or Billionaires
Hey, there are Nooo more Middle Class. It's just lower = (poor) Class, & the Rich Class. You think moving we'll just fix the problem? Ha 😂 😂
@@billmoyer3254 In the early 70s, my wife and I worked. I worked full time, she worked part time. We had just gotten married. At the end of the year, we had to pay. We had a car, house. Now that I've retired, I have no house payment but the taxes are now 70% of my SSI. I can't buy a car and the utilities take up more than the 30% I have left.
The Middle Class IS in financial survival mode. 70% of Americans are living paycheck to paycheck.
And 10% have no paychecks at all.
People need to get rid of useless debt stop buying a NEW car every 2 or 3 years, we have been driving the same truck for 24 years and driving the same car for 18 years no debt since 2009 the currency we save we buy precious metals win win
Same here…drive it until the wheels fall off! Biggest waste of money is trading in every few years.
Amen.
Well said.
When the Bomb drops, you'll give a gold coin for a turnip.
Agree
I don’t even have car now, soooo good, no insurance payments no mechanics lying into your face about everything needs be fix in a car
Because I live abroad and using extremely convenient public transportation, it has GPS, you can check time-route-stops, everything!
America pushed people into cars, people got fat, lazy, not walking, not communicating, in depression mood… it’s all crazy
I sold everything and retired to Mexico. Love it. Property taxes are $200/yr. Living a stress free, peaceful life with a Mexican wife.
Do you still get social security? Can you work there?
Debt is at the root of all America's problems.
I would say, debt is a symptom of our problems.
Money always available for wars
And Trump says he loves debt.
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless." - Thomas Jefferson
that’s all that needs to be said. Adam doesnt get that yet.
Mr. Jefferson never said that. The word deflation is from around the 1890s, a bit late for Mr. Jefferson.
"The earliest known use of the noun deflation is in the 1890s. OED's earliest evidence for deflation is from 1891, in Pall Mall Gazette. "
Wall Street wants 100% control our financial system especially Social Security Trust benefits. 😮
Europe has laws limiting the number of homes someone or corporations can own.
The US did as well. Obama changed that in 2011
Ridiculous...can't own rental properties?
I like Adams definition of middle class.
Its what I remember growing up in the 60s. I fear we, as a society, have our priorities all wrong which will, and has thwarted us from achieving a comfortable life. We want instant gratification so credit has allowed us to get indebted. We want to keep up with the Jones furthering us into slavery. And greed is everywhere, we want what we haven't worked for.
And as was stated, were inundated with information about everything and take it all as factual. Its like we don't think for ourselves anymore, we allow others to influence our thoughts, our fears, our desires and we run our lives by feelings rather than facts.
Even this podcast. I listen but not everything these guys say is gold. In fact there are times when I think they are trying to scare us. Then I become wary and start to scrutinize the verbiage.
I am wary of financial advisors who charge high fees.
I am wary of real estate brokers who take advantage of gullible buyers.
I am wary of bankers for not demanding the buyer stay in their debt to loan ratio. (One did this to me once and she did me a huge favor.)
I love these discussions. Adam is very knowledgeable! I had got more of an European intellect than American as he is so knowledgeable and soft spoken. I am watching this from London. We have a very similar situation here.
Todd and Adam, when you guys were discussing the work from home option and if it’s good or bad, both of you guys mentioned that AI and layoffs will occur and people should fear losing their jobs. Honestly with the economy the way it is and has been for too long Gen Z and Millenials could really care less about layoffs and AI intervention our generations are kind of tired of being pooped on working for companies who could care less all while we get paid less. You guys mentioned taking homes when people stop making their payments the same concept that would cause someone to do that is the same concept about employment. Younger generations don’t have enough money for home ownership or for children or to pay back the debt they have if they have no income they will live with parents in paid off homes or they will live in tents I mean the options are endless younger generations are very disgruntled about cost of living compared to wages along with quality of life in America they have nothing to lose and I think we saw that during the pandemic with the rioting young people just are not feeling great about America so threats of lay offs and AI really doesn’t do much to motivate them to get in line. It’s sad times we are living in and we all shall see😢
Cliff brings a unique and relevant view to this discussion. He did interrupt Adam a bit much in the first half of the interview. He must have read the comments as he did it far less as the discussion progressed.
I'm grateful for such conversations like this. So few Americans are aware of what is going on, so it's almost impossible to have such discussions outside of channels like this.
This issue has been growing steadily for decades. Everything boils down to sacrifice and there are only 2 kinds. Work, the sacrifice of the present to the future and Debt, the sacrifice of the future to the present. We've been borrowing from our future too much and now we practically speaking don't have one anymore. And there are only 3 ways to pay a debt, through blood, sweat, or tears. Tears, you cry and hope someone else comes to rescue you from your problems or cry as you watch everything fall to ruin. Sweat is hard work, at a rate greater than the debt while not accruing any more than the bare minimum necessary to survive. Or blood, where you take from others what you owe by force or die trying. Work is the only way truly to escape this cycle, tears and blood only create more debt in the long term.
What a great interview, so many are being duped into believing all is great, we are headed for worst times in our middle class times so few see it
A huge missed talking point, with the reduction in labor/workforce for whatever reason, means less tax receipts and ultimately less spending across all sectors. Thats bad for companies
The best most informative review around. Again, thank you.
None of us middle class are saying things are fine... they are not fine. We are all struggling
I’m so happy that i was born in poverty, was raised in poverty, and have always lived under 20k a year, the last 10 with kids. I’m 36, and I didn’t get my first indoor bathroom until I was 12 years old. Now I’m a homeowner, despite any child support and living on 20k as a waitress. I have more than I’ve ever had, but believe me when I say it’s a week to week struggle. But, I know how hard it can be, and I know how to survive in conditions that would horrify the average American salary family. We’ve been so spoiled as a country, look at other parts of the world! Do you have any idea how lucky we are to not be in war torn countries, no power or food? I’m spoiled just by being here,despite being one of the poverty level citizens. We dug our hole, intentionally or not, and I don’t see how we can do that without paying in it one day 🤷♀️
No, like you said, we must take control of our own lives and control our own financial destiny. If we rely on our government, we are absolutely doomed.
I have been watching Todd's podcast for a while now and also Adam's for some time, so it's great that Adam is a guest on here now. Next is for Todd to get Nick Gerli on (I have seen him with Adam already a few times). My three favorite podcasters for these subjects. You guys all speak for people like me and my wife: working professionals that still can't seem to make sense of this housing market (CA). We are waiting out the market and its with your podcasts that I am able to ground myself and not listen to the mainstream media agenda.
Appreciate you so much 🙏
I enjoy listening.
WOW! You guys are WATCHMAN ON THE WALL.
So informative and needed
Adam is a huge get for this channel. Thanks Todd. I know Adam has been frequently appearing. Adam you are great. !!👍
Todd and Adam are the voice of the people. I'm glad a few people are speaking out about the plight of those who are getting crushed in this economy. I think it's only going to get worse, but at least there are people at the top looking out for those at the bottom. 🙏
Yes looking is all that can be done unless you know what's good for you
What I love and respect about Adam is to this day I cant tell if he "is" a democrat or republican leaning man which is awesome. He is reasonable but he is also a man who cares.love him
I don't want to hear from.Cliff
I'm here for Adam
Not being rude but Adam is the man
"The modern banking system manufactures money out of nothing. The process is perhaps the most astounding piece of sleight of hand that was ever invented."
-Sir Josiah Stamp, former Bank president
I think the two parties are working together does anyone think this.
Yes, it should be obvious to all that they're working together to keep us poor.
Yep. Just look at how the Democrats saved the Republicans from Trump. Is not the way that most people are thinking.
First, look at how Trump got elected. A voter base that is happy with their representation doesn't choose the outsider in a field of 16 candidates in their primary. It's not the first time, either. 2012 saw a huge anti incumbent sentiment in that party.
Then, look at Trump's early actions, before the Russia hysteria hit peak. His first actions were to call all the Republicans bluffs. Here's some examples.
"Repeal and replace Obama care." That's been the motto since Obama care was still in debate. But when Trump said it, suddenly Republicans were against it, saying they had "nothing to replace it with."
"Build the wall." Again, Republicans have spent the entirety of Obama's time in office whinging about illegal immigration. But as soon as Trump said "let's do that thing you spent the last decade saying you wanted to" suddenly they were against it.
How many times do you think they could handle being called out like that? How often could their party survive being exposed for lying about opposing the Democrats? So, in come the Democrat party, doing damage control by distracting us from the issues by attacking Trump.
Another example is Liz Cheney. Republican voters have been trying to oust the Cheney family for a long time. When they finally succeed, instead of Democrats celebrating the fall of a foe, suddenly they liked her?
Yeah, there's a reason why Democrats don't want to see new blood in the Republican party.
They play for whatever team suits them
they all golf at the same golf club
It's one party. It's headquarters are in London.
All of you all just don't understand what's coming. We've had two past crisis less than 20 years that's created over half our national debt, and right now we're heading toward the greatest multiple crisis that the world has never seen; from average people credit card debt, real-estate crisis, along with banks, and commercial & smal businesses failing. This doesn't even include the wars on the horizon with other superpowers wanting to take control of our financial system. 🤔
A few of us understand
Wow I watched this whole thing surprisingly. What a great panel of speakers on what’s up with the economy. I took a lot away from this
that ppty tax trap caught me unawares: I boutht 2 ppties during the great bubble of 2003 the NINJA loans etc. the tax was a mere $1,600/yr - little did I realize it was a sr citizen with other exemptions - the city raised the valuations during the greenspan funny money boom of 2003 and my tax went to $7K/yr! what a shock, the tax was MORE than the mortgage - and I LEARNED : "NO WONDER the property values were SO LOW, SO DEPRESSED! the city was sucking the blood of its residents! amazing (depressing!) economic lesson!
I had to be dragged like a cave woman to look and listen Artist Credits I Ran by Flock of Seagulls
Thanks guys, I love Adam Taggart, he's one of the best financial voices out there
I'll need help if I'm going to make it through this. The ETF and stock markets are still pretty volatile. What's left of my $170,000 portfolio now isn't looking good; how can I capitalize on the market?
Many people are still getting fantastic returns on their investments during this time. Simply maintain a strong sense of reality or ask for professional assistance.
A good number of people discredit the effectiveness of financial advisors in exploring new markets, but over the past 10years I’ve had a financial advisor consistently restructure and diversify my portfolio/expenses and I’ve made over $3million in gains… might not be a lot but i'm financially secure
Could you provide information about your advisor? I'm interested in using my boosted cash flow to invest in stocks and alternative assets to meet my financial objectives.
Kristin Amy Rose is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
I'm pleased with the advisor's prompt and knowledgeable assistance. Their professionalism instills confidence. Looking forward to further discussions.
I think Adam needs to do more research about who's controlling our system. There's so much hard evidence and facts out there!
Greetings Tod, Adam and Cliff, One important question we might want to ask ourselves today is why does the US have to desperately grabing any uneducated immigrant and pay those immigrants to come to the US? We see developing countries like Malaysia, etc. who require immigrants to have almost $10,000 MONTHLY INCOME plus a large bank deposit to immigrate to their country! The US is paying the uneducated and poor to come to the country? Mexico now requires a monthly income of over $4,400 US, etc. What has happened to the US that nobody will have us without being paid to come to the country! Let's talk about it! What happened? Hello! Let's do a few programs on this issue!
Mexico requires you to have $20,000 in the bank to be able to live past 180 days in their country.😂😂😂😂😂😂🎉🎉
Keep voting for Democrats and if you think your in bad shape ,give them another four years and you will be lucky to put food on your table.
Sometimes a wake up call will bring it
The elites are always looking for a cheaper labor class to exploit for pure profit, with zero responsibility for any of the negatives it brings to said society
Warren Buffet said it best in his 2024 Berkshire..."If corporations and the 1%ers actually pay their fair share of taxes without loopholes, The rest of us would not need to pay federal taxes and social security would never run out of money." Justice is definitely coming!
In the 1950's and 1960's middle class was the nuclear family with a single bread winner who could afford a home, had vacations, one car, a stay at home Mother, health insurance, a pension, and could save for retirement. We have more stuff but much less security and quality of life. The race to the bottom from globalization.
And what was the divorce rate back then ?
Letting in 10 million illegals is keeping home prices up. Also foreigners dumping dollars buying houses.
Adam walked me through buying Tbills for the first time and made me thousands in interest. Thank you, Adam!
How much of the national debt is from recent tax cuts (mostly gains for the wealthy) and who stands to profit the most from that debt, or rather the interest on that debt? Also the wealthy. Cant forget all those stock buybacks either. Talk about inflation.
No nation has ever decoupled from Gold and remained great...
On a quick note and observation, after the ‘08 crash traffic disappeared in the Bay Area,CA. Now the traffic is so congested you have to plan when you can leave your house. Usually it is before 6 am and go home after 7pm,unless it is LA and traffic is 24/7.
All i am saying accounting should be taught in high-school history at least taxes and how they work.
Yes. And Investment Strategies 🎉
Most people can't add 2 and 2 without a calculator.
Kristian I agree. The comments on this podcast blame government, business for not be able to afford a home.
They can’t see that it is their fault. Because they don’t know basic finance. They go out to buy a house way the hell out of reach based on low interest rates. And if rates go up they could owe more than what the house is worth. Or never be able to sell because people would not pay.
As a boomer I have seen people do really foolish things in regard to real estate. Mostly in paying too much. Not realizing property tax and insurance will go up too.
But it is easier to blame someone else.
Design all by Design we need new Designers
As someone who works in healthcare the reason for using adult diapers is because many people in care units do not have the ability to recognize when they have to go to the bathroom also walking is difficult for them and many workers have gotten injured helping those with unsteady hair go to the bathroom it’s a bigger issue than their dignity it’s worker comp staff retention and safety it’s a lot to unpack. 😢
In healthcare as well....also understaffed. Can't get to the patients in time.
I'm 60 and have never used self checkout and I will never use one. Remember, They still have a customer service person around. They come and still check me out or I just leave. If I go out to eat, I want serviced. No Buffet for me.
adams comments about ‘entering a modern feudalist era’ resonates with a lot of people.
Give Israel all of our money. We don't want to be antisemitic.
Ukraine is Biden's money laundering system
Oy vey
Why is the West sending all of it's money to Ukraine?
Shhhh....be careful about uttering anything against Israel.The secret agency MOSSAD of Israel have even infiltrated our Secret service who is responsible for security of POTUS. Have you people been noting that EVERY presidential candidate from Obama down, has a word about saving and helping Israel? My take on Trump assasination attemt? The deep state/ zionists /illuminati needed to send a clear message to Trump..: Better dance to our tune ( like all prior US presidents) or else!
How come no one mentions the rising min. Wage as a major contributor to inflation? It affects the cost of all the goods and services we consume.
Sure wish I was wearing an adult diaper last week when I opened my annual escrow letter because my Colorado homeowners insurance doubled, literally doubled. I live in the foothills with higher fire danger. 10 years ago it was just under 1k a year. Now it’s $7000.00.
What do you think happens when you believe in living wages for every job? Living wages = no middle class. You’re either a rich elite or poor.. FYI, the current rich elites want you to be poor. Why, because you become a subject of theirs.
It is like getting hit by a truck when we feel our complete vulnerable self but it is ok try Mindfulness techniques
This is all part of the plan
That's such bs. I lived in Colorado for 10 years. It's definitely californicating...uggh
Todd, I really enjoy your show. You have great guests, and I learn so much each podcast. Thank you for all the work you put in!
Correction this is my second house now. They were wrong both times. The banks numbers for estimates on property taxes seem to be off often. The last owner paid 5925. They estimated ours would be 6100. It was actually over 9000 a year.
Move in your van
@@bonnieupton4114 it’s not for everyone.
@@bonnieupton4114 who even owns a van anymore. it’s not for everyone. Just pay the bill..
I do... And I will. And I thought I was crazy for renting for 5 years... In 6 months I will not be renewing my lease. I will live rent free for the next 5 to recoup. Thank God I stayed single and no liability to anyone but myself and my dog. Did some stupid things minor setbacks and but luckily my business is recession proof.
I remember my parents lost everything in 2008.
Lord Jesus Christ will keep you as he has kept us and those who believe and call upon him.
House, education, vacations/leisure, retirement - it’s a great definition of what middle class was when we were kids. A few counterpoints - house was 3Br 1Ba and 1200 sq ft. Education was vocational or state school (at least in the Midwest where I grew up). Vacation was an 8-hour drive to grandma’s or a camping trip to the lake. My mom didn’t get a credit card until I was in high school. It was just for emergencies or special things. We bought used cars.
These days everyone wants everything now, so we have debt for all of this in our 20s, and debt has increased the price of literally everything. Houses are bigger, cars are disposable, education is predatory (10K tuition each year just for a state school). We all have a “household payroll” to make every month.
The solution - higher rates. Just like the early 80s. Incentivize savings. Penalize debts. Lower asset prices (assets are held mostly by the rich). Powell needs to double (or more) the Fed Funds Rate.
In the 70s in Canada, my girlfriend's parents both had minimum wage jobs, an owned owned a small house, had a used car, and she and her 5 sisters ate well. We though they were poor, which they were by Canadian standards in those days. How times change.
My wife lived in Toronto in the late 70s, had no credti cards, and worked in retail making a tad over minimum wage; had a nice apt, wore designer clothes. and banked a day's pay a month to put towards college. She considered herself low income.
Bring those higher interest rates back.
Not a conspiracy when the WEF said you will own nothing and be happy….. ok 🙄
@DIVAO92012
👊🏽 👊🏽 👍👍
Great video.
Well, my DH and I retired early on a remote island at ages 42 and 35, respectively. Yes, WE tested the water abroad, tried it on for size, and then WE returned to the USA and invested in real estate...for a while. But, not so long ago, WE read the "tea leaves" aka "the handwriting on the wall" and quickly realized that it was time for us to SELL and GET OUT....get ready for our REAL retirement abroad. Thankfully, our profit from that sale was $60,000 USD...which in my opinion is a whole lot better than hanging around the USA...and experiencing ONLY foreclosures or another ECONOMIC DEPRESSION which equals walking away with little or NOTHING! So now...WE can call ourselves RETIREES... and head back to MY FARM...abroad... go and plant some food to eat...while WE learn how to GO FISHING at the nearby RIVER/ Caribbean Sea.
Your videos are very helpful and informative. Many Thanks!
Cliff loves to listen to himself talk.
You absolutely have the best show and so informative and it helps me make great financial decisions
I'm a retired widow, and my groceries and utilities have tripled here in Florida. Thank God I have a government pension. If SS goes I'll survive. I really don't know how young families are surviving.
@@christinewimer5523 What career did you have? What degree would you need?
Great guests & discussion 👍Thank you🙏♥️
Please
We pay about 15%! How?
Your employer pays 1/2.
BUT the employer COUNTS that as part of your gross compensation...so YOU pay !
And SS is a TAX! Not a pension.
Just funny money
Thank you for the insightful conversation 😊 Good evening from the Philippines 🇵🇭💙💛❤️
This was great!!!
Commercial real estate includes apartments, strip centers, small business owner buildings and so on. Many banks have little exposure to downtown office buildings.
The deficit starts and ends with the people, oligarchs, and corporations/ financial institutions that have taken it all since the time of Ronald Reagan- they are the ones that need to bail out the system.
I sold SFH in May 2016 located in a super zip code in MD (AA County). Bought in 2003 for $390k, spent $100k, sold for $625k. Gained $135k in 13 years.
Moved to Ponte Vedra FL & rented awaiting RE correction. Ended up back in MD (same area) a couple years later also renting as RE prices were even more in a bubble. I’ve been renting 4500sf water front home in a super zip code at $3200 month. It was the most expensive rental in 2018, now its the cheapest.
The main reason I rent is this is the most ginormous RE bubble EVER and when it bursts/explodes it will drag the whole mess down with it. Next reason is my last high schooler in a true blue ribbon high school just graduated.
I have saved about $200k in the last 8 years since selling my SFH in 2016. My thought now is this bubble and eminent correction may be deep enough that I could be a CASH BUYER w/$200-$250k!!
#Mentors are very,very,very valuable….especially their time!!!!!!!
Budgets?? We don't do "budgets" anymore. Haven't for ages in fact.. The current nomenclature is "spending bill".
Since deflation/bankruptcy is off the table. There is no other option. The defecit is exponential now, there is no other option
“🎉Two can live cheaper than one but not separately” until the family structure changes you have a pipe dream. Wars are the main distractor of capital.
US Treasuries …. A very interesting topic and BRICS de dollarization - glad you spent at least a few minutes out of two hours on such a HOT topic
😂😂😂😂
It took me two days to watch this 😂, but I appreciate every minute. Thank you!
Todd, please don’t have Cliff on anymore. I prefer to hear Adam and his vast knowledge not someone who is not the expert take away so much time with comments that are irrelevant. I feel there was a lot of important information that wasn’t discussed. Interruptions when Adam is speaking is very annoying.
I agree I wish this was just Todd and Adam the 3rd guy was so unnecessary annoying and was out of his depth
I skipped every time cliff spoke
I actually liked the fact that Cliff was giving a little pushback and he was steadfast in his opinions..
Adam is one of the best in the sector. However, if I did have a qualm is that sometimes he tends to sit on the fence too often.. Cliff brought a different perspective which is a good thing
i loved Cliff.. he is awesome and I think has a 30,000 ft view of what is going on. Adam is snipping around the tail of the snake which is attempting to confiscate wealth from the middle class. Cliff is looking at the head.. Todd is somewhere in between.
@@ousamaabdu794agree totally. cliff bringing a little red pill to Adams blue pill status.
I really enjoy the comments by both Adam and Cliff, very real.
Cliff, stop interrupting
Made some rush decision after My husband died moved down south, bought a house that needed lots of repairs lost a lot of money , I dont know if I want to stay , thinking maybe buying a small place that I can airbnb while I am not there, Not sure what to do, intrest rates are too high
You cant go out anywhere without someone flipping around a screen with
"what would you like to tip? 10% 15% or 20%"
My rule is 0% if 0% service was given. Companies need to pay their employees not try to extra charge/pass the buck on to the consumer.
That's why I always carry cash.
The student loans being forgiven are largely for people who went to schools that later were deemed corrupt, or weren’t accredited. I’d be interested to learn under what conditions those loans were forgiven.
Return of your money is better than return on your money
Gentlemen. It's Greed! The richest are never happy with money when's theirs no power involved. GREED.!
Cliff, I dont want to hear about your shopping at Costco. Please don't interrupt.
There are hidden messages for instance discussion about commuting in Silicon Valley hello there are hardly no grocery stores compared to the dense population
Wonderful news. Truthful.
Not only are you screwed if relying on social security, good luck finding a job if you're over 65.
1000% Cliff, regarding the definition of middle class has not having a stake anymore. I spent my first 50 years doing the right thing and kept getting screwed and ruined by people who never paid for their mistakes because they apparently don't have to with this diseased system of economic subjugation we have now. So yeah, screw this place until there are drastic and irreversible changes from the top down. Preferably with thousands of arrests and dozens of executions. And at this point guys, I don't really care how it happens as long as it does. My life's already mostly over and the concept of the middle class was just a damned lie the whole time.
It is important to allow yourself to completely feel the vulnerabilities these are healing pathways
@@veronicalyday2388 I'm well on the way to that goal :)
Awww, the story about the adult diaper made me sad.