WARNING: Massive Inflation Is Coming To The United States | Lessons From Venezuela
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- เผยแพร่เมื่อ 28 ก.ย. 2024
- Today Dr. V discusses the news from October 1 regarding Venezuela resetting it's currency by removing 6 zeros!
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Told my family members for last 30 years...get out of debt, owe no one any money, buy land with water, and stock up on seeds.
LOL I have a house with water. It flows through my basement walls
Very important: Do not buy a house in a flood zone, that includes valleys with dams holding back a large amount of water.
I "HAD" 3 houses when I was younger thanks to my dad but thanks to my mother I got fucked out of all 3 houses
Don’t forget to stock the nuts
Save seeds from fruits and vegetables. Dry and replant them
Rich countries have billionaires, poor countries have inflation. The result is the same. Poor people are always poorer.
Wait until the wrong party get in that whitehouse in 2024.
@@sheiladavidson7475 No Matta! Rich countries have bad karma. Google the richest countries that are the biggest exporters in arms.
Seeing this at grocery stores. Shipping backlogs are contributing to price hikes.
Live within your means, buy vehicles that you can pay for in full or have to borrow very little to get. Get rid of payments..Take care of house payments if you have them, and take pride in owning things out right.
And stack the shelf stable foods that you have to the rafters :-) just a little advice for those who don't know where to start preparing for inflation.
And for the love of god, learn how to bake a loaf of bread.
Could you imagine having to put in 2-4 hours of Labor to afford one loaf of bread? That's Venezuela
The problem with Venezuela is that the US won’t allow them to sell their oil. They have more oil than the middle east. They should be the richest country on earth. If they’re not allowed to sell their oil, what can they do? If they had anything else to sell, the US wouldn’t let them sell that either.
The US is trying to destroy Iran too, buy China is buying oil from Iran, and the US can’t make them stop.
The US also won’t let Cuba sell their sugar.
Oil companies in US just trying to force their products on us.
The old sanctions…. And it’s because the US has reserve currency status
Or just give up the bread.
@@akc1739 I don't eat much bread...but that's not the case for everyone and the over all idea is to DIY if possible 🙂
In economically hard times, it's not always easy to be picky about where your calories and carbohydrates come from, either.
Thanks for the warning. The primary earner in my house is suddenly incapacitated. May not work for weeks. That’s why I prep. No money for investing (never any for guns and ammo). Desperately need roof repair. All I can do is hold my breath. Now this. Beans and rice for dinner.
About 6 or 7 years ago my husband and I took a position against the US stock market. I don't remember exactly what was happening at the time, but there was an insane bubble that I felt was BOUND to burst. Well, it didn't and we lost a bunch of money. That's when I realized just how entrenched the "Powers That Be" are in the US stock market and I decided to have absolutely nothing to do with it.
No working person should be in the stock market. It is a sucker's game with the wealthy having knowledge long before you hear about it. Nothing but one big pump and dump. That said, they rigged the game against savers period so no where to go with extra that is safe. Best bet is hard assets that are "inflation proof" such that they follow the inflation curve no matter what it does. They are fixing to steal all of the 401k savings of the workers and that was planned back in the seventies when they forced us out of defined pensions into these quagmires. Normal people will always be a day late and a dollar short in the markets so do what you must. Best to stay out. So many paper millionaires have learned hard lessons in my life. Leverage is your enemy!!!
It's a rigged system. American style capitalism has gone from being a reasonably sustainable system to a rogue and brutal unregulated game of whoever has the most toys wins and everyone else starves. It will eventually crash just like you had figured, but the richest of the rich will find ways to fight against the demise of the collapse in order to try to hang on to their power. Ultimately they will destroy themselves and the system.
Nice rearrangement of the music room.
The part you left out about Venezuela's problems is US interference. Look it up, read it with an open mind (not to say you don't have an open mind). But everything we hear about Venezuela in the media is heavily filtered, mangled, and slanted by official US policy. That's just a fact.
US interference! You mean CIA. It doesn’t erase the fact that Venezuelans are poorer and starving from the bullshit Socialist agenda of Chavez and Maduro! Viva Chavistas and Madurismo! Gimme a break. Even Mexico is doing better than Venezuela.
It's the democrats in Washington thats causing all this crap in the US and all over the world as far as inflation goes and then they try to hide it all from us but the American people are much smarter then that. We The People with any sense know exactly what's going on and it's sucks all to hell for these clowns (dems) to be destroying our great country!!! They all need to be impeached ASAP!!!
I figured the interventionist jingos would be here before long. Look, the US has been heavily intervening in Latin America for over a century. Those interventions have Included overthrowing democratically elected governments. A good part of the refugee problem is people fleeing the regimes we installed. So instead of getting mad at me, who is telling you what happened and suggesting that you check it out, just check it out. Everybody wins when you have historical context.
@Owen Chang Nailed it.
@@andreahughes6288 "the American people are much smarter then that"
Clearly, looking at the pandemic response and amount of absolutely insane conspiracy theories. Much smart, indeed.
Your so called great country haven't been much great, and on a steady decline since Ike, heading further towards Fascism for each election.
"The United States is also a one-party state but, with typical American extravagance, they have two of them." - Julius Nyerere, President of Tanzania (1964 - 1985)
I was a trader on Wall Street and I could go into every point of this video. My main thing I would say is that this is a bunch of doom and gloom. The United States is a totally different situation. In fact, United States is the CAUSE of the situation in Venezuela. Yes, always be diversified but be careful about crypto because there’s going to be a lot of regulation. Have you been reporting your investments and profits to the government? It is a new Asset class so it is very risky. What does country needs is a living wage for every worker.
I’m very skeptical of trading cryptocurrency to make money as is warren Buffett. The technology behind cryptocurrencies and Blockchain is worth something and some of it may be used to greater extent in the future, but the appeal in frequently trading cryptocurrency thus far seems to be based on excitement of quick and easy unrealized gains among inexperienced investors on Robinhood. Warren Buffett says he can say almost with certainty that this will eventually come to a bad ending.
dont buy and sell, just buy and stack. need a hedge and Bitcoin is the best bet right now.
@@tyronejefforeillyramirez7961 if the shit hits the fan, the warlords with be the ones who can barter boxes of bullets.
@@Chris.Brisson my arsenal is yuge!! I'm ready there.
If you guys knew shat was happening you would just invest your own money.
No offense but wealthy people buying up small homes as rental properties is a big reason why young working class people can’t afford to buy a house.
It’s not rich people it’s rich corporations and pension funds.
Then get gov assistance buying a home. Fannie, Freddie, etc. HUD low cost loan for low income etc. We do have help for low income wanting to buy homes
Also, don't blame wealthy for everything. The Feds lowered interest rates, which actually makes the monthly payments pretty affordable, even though principal went up. ( people who think they can't afford it often can)
Principal went up because interest rates went down. That's how it usually goes
As for pension funds, that helps society. My public school Teacher friends retirement website says 66% of pension payouts comes from investment growth
That means Wall St pays 66% for her retirement payouts. Not taxpayers
Thank you Wall St and corporations
Exactly
sems lefties always need a "boogieman" to blame for the fact they can't achieve themselves...
We have housing cost problems here for sure. For sure to get worse with continued printing of money. One problem is non resident foreign ownership competing and some of it driving up prices. The other is corporations buying housing paying more to get it and driving up prices.
As an economist, my problem with this video here is Dr. V is venturing into things he has no idea about
Lol
I agree. Fear mongering.
That’s why I always say that money managers should have to be insured. It’s the one field that can destroy your life that pays zero consequences for their bad advice/behavior (selling you products that they make the most money on) …why should I have to understand all the complexities of the stock,market, etc when I just don’t? If I understood it, I’d be a millionaire. I’m not expected to understand surgery or even construction, which all can lose you a LOT. And most of us never had enough money to just buy a few extra cars and houses and most,of us are forced into the stock market by employers getting rid of pensions and making you invest in 401k. I have no way out of it. Advise those of us forced into stocks what to do. I had $54,000 of my hard earned money 24 years ago…today that chunk is worth around $30,000. It’s incredibly frustrating. We lost so much money it’s criminal.
When I was a kid, I remember 12% mortgage interest rates. And I remember bank accounts with no fees that paid 6-8% interest. People would keep their money in the bank to earn interest. Today it’s not even worth it to have a bank account.
You remember 12% mortgage rates? I remember 18%
I use bank as my piggy bank. Seems safer than a coffee can buried in back yard..interest is about the same.
@@OceanFrontVilla3 I remember 18.5 %
The highest ever in Canada was 19.25 for a 5 year mortgage in 1982. We bought our first home in 1983 and were offered a 13.75% rate from the builder as we had a large downpayment.
In 1962 my folks got a GI loan (VA loan now). 2 acres and a small house. $52 a month payments, 4% interest. BUT Dad was earning $3000 a year as a USDA lab tech, a decent wage back then.
I live in southeast Alaska, many things have doubled in price. I can’t imagine what it must be up north in smaller native communities. I believe doc we will lose a large percentage of people on this planet.
Over the next 100 years….possibly sooner….most of the population on the planet will be wiped out by climate change and related diseases. Humans are heading for extinction within 200 years. Doesn’t mean, however, that we shouldn’t be trying to do something.
Yup I graduated from Sitka High and left the state because I can't afford to live there. There's no housing or infrastructure for anyone who uses a wheelchair unless you're Tlingit and they're struggling now too 😔
@@CrystalMouse1 That is sad you had to move. Always wanted to visit Sitka as I know it is beautiful. I was so lucky that my friend left her home to me. But even with not having home payments, I still struggle as if you own a home there is up keep to take care of. I’d like to move into town, but there is nothing in my price range. There is only a few properties for sale more than I can afford.
I called this a year ago when the pandemic began. I currently have a 97% accuracy, but my background is economics and finance. Our country ignored economic fundamentals, and the pandemic exacerbates the problem further with the FEDs intervention. Opening it all back up the way they did just poured gas on the fire. Oh well, they asked for this
.......... it was common sense as well Venezuela does not destroy money like we do in USA
Also Trump's trade war.
Then you will know of the Operative from GWU; Gallon of water costs more than gallon of petrol … but you cannot get any; Deep in Amazonian there is an issue with a 'stimulant' ( actually it is not a stimulant ) where "Lost in the Jungle" has rep[enactment of mundane reality with an adjuvant intended for mood or other ASC → I wish to add to your position Clowns of Corruption and Boobies for Hire have screwed the shit out of everything imaginably relevant to societal discord and replacing it with Full Retard … Sold by this chick whom grew up stealing porridge from Russian bears actually she works in Hyperbad Turkey for some of the Amazon Horror Films which were originally on Kodak 7219 ~ These were loaded into a camera know as a Kraznegorsk - Some really eager would get a 1-Khz crystal time-base for syncing to vice actors ○ Usually nothing such fancy was uses as who is screwing whom is not a major concern in the back rows at Industrial Avenue art-flick theater in Dallas • These films often would claim the art exemption similar to Canadian Film Board feature to appeal to my macabre impulses; This is known in medicine as Prion : Prions are mis-folded proteins with the ability to transmit their mis-folded shape onto normal variants of the same protein ◘ Miller did not address eating dead m-ƒ's Normal's soon find out what living on the streets is or are gaming well ahead of any such thing; Saw my first taste of it yesterday Saturday ~ estate sale · Probably a C19 victim • The female claims to be public health educator but did not never get a job doing it; Tell's me her produce does not use DEET ◘ In other words hired educator is working for dumb-down → I can run circles around that but she does know C19 is Global Transmission by Airborne Dust via zonal upper level wind currents •••• Vein Zuela meets cruella for snorting some ( i forgot the name but it is not very strong ) • One of the channels discussion your thesis says Boise Idaho has crashed or is crashing » Do you have any on-the-ground intel on that??????
Yep, I knew when the "stimulus" money started flowing, we'd eventually be paying it back in inflation. The news is not fake, but the money is!
Correction: PLANDEMIC
I was having a good care free day… and I thought NO! I need to pump the brakes on this and get some negativity back in my life. Logged on real quick and Did not disappoint.
LoL
The good thing about inflation is that if you’ve owned any real estate for at least a few years now, it’s probably gone up a fair amount in value, and you can still refi and lock in an extremely low rate fixed instead of paying a mortgage off early (which makes no sense at these rates) and keep the rest invested in stock market long term. We don’t pretend to know what happens in markets short term (no one knows)but over a decade or more you can expect solid returns. That has been true with S&p index from 1920s to the present
It’s going to cost so much to build a new house that it’s going to bid up the price of used houses sky high if inflation ever goes back down it could cause another housing crisis
@@johnrobert2074 yes I agree. It’s already incredibly expensive to build and then we have millennials entering/having entered the housing market. So starter homes in desirable areas with high paying jobs are very valuable now and should hold value well over time (I think)
💯 agree
It ALWAYS makes sense to pay off your mortgage if you can, no matter what the interest rates are doing. If something happens to your income, at least you will not end up homeless. You can then invest your mortgage payment every month in stocks or crypto, or whatever. Or you can do what we're doing. We're refinancing our rental property (which makes its own mortgage payment) to pay off our family property. That way if SHTF we could lose the rentals, but not our primary residence.
Harry Dent says that we are in for a Japanese style recession,that which has not corrected in 30 years.So many will not recover from the losses.
Love your COVID stuff but you're off here. Crypto can't be used to pay any taxes. Compulsory taxation gives currency its value. I recommend The Deficit Myth by Stephanie Kelton. Great book.
Uh 🙄 I’m sorry. Sell it pay taxes genius.
Learn a trade,deal in cash or barter, there’s a lot of work out there,
Been there in 70's when Ford instituted wage price freeze. I remember stated inflation up to 15% greater than 25%. My brother bought gold at around 200 it went to almost 650. So yeah it is coming...
Nixon
Happy Belated Birthday Dr.V. Thanks for sharing your wisdom with us.
Why does a 2015 Suburban, with over 100,000 miles cost around $32,000.00?
Exactly! My husband and I recently considered buying a used truck. Preferably Chevy Colorado. The prices on used trucks are ridiculous. My car is paid off. I’m driving it until the wheels fall off!
I bet they trade each other in goods during this inflation BS. They have huge oil reserves but we(USA) are interfering with their trade in most ways. So lots of their real problem is us. (They aren't big enough to do anything about it though.)
I can see a civil war and then a depression.
Take a look at Zimbabwe around 2005 to 2009. They removed six and nine digits off their dollar several times before they just wiped out the currency.
The South African Rand, Zambian Kwacha, and United States Dollar are the legal tenders there. They also use the Euro, and the Chinese Renminbi is being insinuated into financial transactions.
Thanks so much for the valuable information Dr V & belated Happy Birthday!!! 🎂🎉
I remember when they said "this is crazy" when the national debt reached $1 trillion. Now it's almost $29 trillion (and everyone acts like it's no big deal). Crazy inflation happens only when dollars are put into the hands of the little people. That has not been happening in a substantial way. The Fed has been pumping almost $9 trillion of quantitative easing, but all that money goes directly into coffers of the big people (and the big people continue to pay the little people just enough to subsist, not even enough to buy a $50,000 car).
Happy Belated Birthday! 🎂
Lemme tell you a story. In the crash of 2008 the United States lost so much that it would take 62 years, at our previous growth rate, to recover what we had lost. But instead of letting our economy crash completely we did the TARPS. The big bailouts for the banks, auto manufacturers and health insurers. Health insurers? Yup, it was called the ACA or more commonly known as Obama Care. The TARPS and the QE’s to infinity didn’t fix the problem, just postponed the reckoning for about ten to twelve years., that’s right about now.
Thank you, we share same Birthday except i am 20 years older. Love you information and insights, also proud of you.
You are very smart I see inflation coming too.
Proven Inflation Proof Investments
Keep Cash in Money Market Funds or TIPS.
Inflation Is Usually Kind to Real Estate.
Avoid Long-Term Fixed-Income Investments.
Emphasize Growth in Equity Investments.
Commodities Tend to Shine During Periods of Inflation.
Convert Adjustable-Rate Debt to Fixed-Rate.
**Buyer beware of Doctors that speak Economics they are not proven fincancial experts.
Spot on DR. V. Inflation is the joker in the deck for sure. And its going to mess up everything. All the folks spending monopoly money on cars/trucks/houses will soon wonder why they see huge depreciation. I can see 2008 all over again except the deficit will be larger and the government has more regulations for bail outs. Don't ask me what to invest in at this point. But at the very least it might be wise to invest in intrinsic metals for a safeguard.
But Dr V, what good are rental properties if you’re tenants are caught with their pants down with pockets full of worthless currency? What are your thoughts on gold? My father in law lived his life collecting as much gold and silver as he could afford because he always believed the USD was vulnerable. I used to poo poo this thinking until the crash of 2008, then I realized the USD and all fiat currencies really are just pieces of paper.
Free preschool, free college, free housing, basic income, food stamps, etc... It all leads to what black communities are dealing with today.
Thank you Doc Duc!
Preaching to the choir. But I love it.
You should have been around in the 1970s and early 80s. Now, that was inflation in the U.S. Simple interest at a bank savings account was over 7%. Look for the "Fed" to increase interest rates in the next month.
Is this why used care are sky high? Maybe ammo is a good investment?
Wow, you can grow a beard really fast...
Haha , that's right ! How did that happen ?
@@tammystegall5130 I know-I’m blown away! Usually it’d be just stubble.
Yes, I agree to diversify. However, other channels with tell you to stick to stocks because it is SAFER, but you could DCA and increase your profits faster.
Doc, Is This Part Of The Great is Reset, Everyone Is Talking About?
Similar resets (dropping zeros) also happened multiple times in Russia in the 1990s.
So Dr. V, if inflation goes that bad and I own multiple rental properties, what are the chances that I will be stuck with property tax bill on an empty house ‘coz not many can afford the rent?
Not sure what Dr V will say but let me tell you, you better be ready to pay it out of your pocket. If you have inflation proof assets to sell you might be OK but if not you might lose them. Also that thirty year mortgage will be force to renegotiate, so if you cannot pay it in full, you will have to refinance into their terms!!! That could lead to foreclosure as well. Again, fully paid for assets that rise with inflation could help you pay that off much cheaper if you have them now before the rapid increase. But none of this is guaranteed to happen tomorrow, just that it will happen sometime. I know one guy who sold some of his properties to pay off the rest and to put away for tax bills in the next ten years. Not saying he is right but at least he is doing something to protect himself. He chose gold for the taxes. And he registered his paid off titles for the properties with his local county land office just in case they tried to resurrect the debts and foreclose on his property like some face in 2008. The computerized deed system the banks and realtors use is flawed. The old paper systems used by county records even if digital are more reliable. Not sure that made sense but counties made their digital systems as copies based upon the paper system without the flaws in most cases.
@@markpashia7067 so in short, if the inflation goes out of whack, majority of us will be fucked? I mean what assets are inflation proof? As long as we pay for what we need instead of producing it ourselves, as long as we depend on others to pay for the goods that we own, I don’t think anybody can be safe. Those that gets affected the most are those with the least.
@@jrsanti The ones that get screwed the most are savers who have their savings in cash or uninsured products like stocks and bonds. Rental houses have problems if they are not paid for and you cannot keep up on taxes. Next are the ones who live paycheck to paycheck with no assets. And while there is no guarantee that an asset is fully inflation proof, there are historical facts. Undeveloped land with low tax base or farm land that gets preferred rates due to zoning usually goes up in value along with the inflation so you can sell it later and have the same buying power you had when you bought it. Commodities like gold and silver are priced low now from a historical view, so if the manipulation stops during inflation you should get your purchasing power back and a little bonus from the correction. But storage is an issue. I am not talking paper gold like ETFs but physical gold you can hold in your hand. Other commodities that are likely to be in high demand later are good. For instance we are trying to move to electric vehicles, but to do that we need to upgrade the grid, and install charging stations all over. That means high demand for copper. Also moving to solar which needs silver and rare earth metals. Those are at least inflation proof and maybe profitable. Food will be an issue so look for ways to play that to protect your money but be cautious and thoughtful. I could go on for days but anything that has to be valued in dollars can drop unless there is high demand for it. And nothing might happen if they find another bandaid but it seems they are running out of those. 2008 was pretty drastic moves to save it, I do not see another fix but who knows for sure? The only thing any of us can do is try to be safe as possible without trying to "time the market:. Look at what the rich are doing if you have any access to peek and copy them. They moved from stocks to metals at the start of Covid. They also have been buying land outright with cash. Also diamonds, artwork, etc to get out of cash, stocks and bonds from the ones I know. Oh, they still play the markets with the money they can afford to risk but the main part of their savings is in hard assets. If the markets crash they will lose like the rest but only their gambling stake, not their whole savings. If and when it happens 1929 will look like nothing compared to this one!!!
@@markpashia7067 all you said still depends on buyers. As i said before, unless we produce our own, it’s just a matter of time, we all get fucked.
Oh here we go again Dr Doom
WAsn’t Argentina in the same boat a decade or more ago?
Dr. V - Thank you for passing this information on and talking about it. Many people don’t see that we are headed down the same path. Many financial and economic channels I follow are saying the same thing. Diverse your assets. Crypto, silver/gold, and real estate seem to be the top ones. Also getting out of debt as much as possible.
Love hearing this type stuff on channels you don’t expect because gets to a wider audience. I learned about COVID the November before from a fish channel of all places. Was told there about the impact to our hobby coming and he was very right.
You do know all those channels do is provide clickbait for people who are scared, right?
It's already here.
Let me ask you this but say they pass this infrastructure bills And they actually start building new bridges highways and roads Internet Rebuild our schools and we invest in green energy should it create jobs. And if we create more jobs than people will have money to spend and put it back into the economy or am I totally 100% wrong
Government takes money from others to fund these projects,+ interest.And most purchases are not made in US.So it creates an even larger debt,and purchases export dollars to China.
Happy birthday 🎈🎂🎁🎊
happy belated birthday Dr.V 🎂🥳🎉🎈🎁🎊
Thanks for sharing this video Dr. V
Still want to hear about 14 neurological brain disorders 1 out of 3 covid patients can develop.
I guess Sleepy Joe must have had COVID many many times!
Infrastructure a better spend than war as it has to be implemented unless you want to barter the classic cars to death on potholed streets and will pay dividends down the line.
Barring existential threats however, war is a bad investment, same as tearing up banknotes and flushing down toilet.
Aww your tasha didn't take long to grow bk😁👍🧡
Fiat currencies have always ran the risk of hyperinflation and, at base, are inflationary anyway. Question: Compare/contrast specie versus crypto currencies.
I don't think America is immune to hyperinflation or fascism, or anything else, especially if something unforeseen happens (i.e., pandemic). I would probably argue with you over your divestment plan. You would have difficulty convincing me that the cars are an investment, but I never thought about the crypto-currency. Did you mention gold? I probably would do that instead of the cars. Fun argument topic.
Maybe if so much money was going to the military and more toward the people this wouldn’t be happening.
You don’t talk about the solution at all? Instead of encouraging people to hedge for economic collapse why don’t you talk about taking currency out of circulation by taxing wealth. People on Main Street here and abroad will not benefit from another financial collapse. The recent monetary policies were absolutely necessary to keep the economy humming along. We can now identify clear winners from these policies but they had a broad reaching effect. Now it’s time to tax those clear winners to reign back in the currency overflow thus fight inflation. Btw, a lot of our current inflation fears do not stem from fiscal stimulus because almost every other developed country in the world applied the same fiscal policies. Inflation is due to global supply chain bottlenecks which have also helped conglomerates gain an upper hand in negotiating shipping bribes. While smaller companies cannot pay to get their shipments through. Change the conversation man!! Other than that, mad respect Dr. V,
I just read India only has 200 commercial helicopters for 1.3 billion people isn't India an immerging market. There are so many stories like this across the globe.
Dude, I love you - but Venezuela and the US are in totally different places...
I have been so afraid of this!
Yup it’s a scary thing! Peeps are going on like there’s no tomorrow 🤕🤨 😎🤙
You are not too far off about coming inflation, but Venezuela's problems are due to other issues. Dependence on petroleum for cash. Unbalanced deficits in government which already controls most of the economy. The only thing that saves us so far is a diversified economy and a market bigger than what the government controls. We could go the way of Weimar Republic...and that led to the Nazis.
You are correct ! All the spending and I am not a Republican...
In 2008 you have 100 trillion bolivar dollars, today you have 1.
I would be more worried about going to heaven or hell. To heck with investments.
That money has not paper trail... you have to get in and out ..
Bad news. So what do you do if you are already poor, own one vehicle and work hard to save up two months bills coverage in the bank and that's it? Oh, I have stocked up on 25 year storage life food (1 year supply), so I can eat that living in my van for a year. :( I don't actually know what crypto-currency is. Oh Geez.
It's okay. I realize that most investment firms don't advise investing in food, but at least I have diversified. I bought the bean bucket, the oat bucket, and the mixed fruit.
Happy happy happy BIRTHDAY
Venezuela is a bad example they do not take out old money and shred it its different here in America
💥SHARING
Your goatee grew back fast!
Wow interesting Doc V
Everything is so depressing.
2015 classic car?? Lol
pile of paper ... "Fiat Money (Currency) -- Fiat money is a currency established as money, often by government regulation. Fiat money does not have intrinsic value and does not have use value. It has value only because a government maintains its value, or because parties engaging in exchange agree on its value. It was introduced as an alternative to commodity money and representative money. Representative money is similar to fiat money, but it represents a claim on a commodity." Wikipedia
Actually Dr V, you just informed us why Bitcoin is not going away…..
Anyone else hoping for them to print the trillion dollar coin? Think of what that would do to the price of platinum!
All the Stimulus has increased the supply of dollars in circulation the same pattern that happened in Venezuela should serve as a warning for all of us. The Dollar is guaranteed to lose value with more in circulation. Crypto is a good alternative but you need to do your own research before making any decisions.
You lost me on crypto. It is a glorified checkbook.
DOLLAR DEAD. YOU BETTER HAVE EXQUISITE CREDIT! DEBT FREE PERSON HERE. PAY YOUR DEBTS OFF, MY FELLOW AMERICANS!
You should stick to what you know doctor, this ain't it.
The only way out is after it blows up. Bulldoze and start over.
Venezuela is big in oil.
Deflation is incoming.
But we have plenty of money for war.
Where do you buy cryptocurrency?
I thought you were a doctor…
Happy belated birthday, Dr V! May God bless you with many more!
How the hell did he grow his beard back in one day? Wtf?
He said something about September towards the end
🤣 I was thinking the same thing. Lol
😂 😂 😂 🍯
Hate to see you on this bandwagon. Your covid advice is so rational.
Dude I tuned in for your Covid updates which where pretty good.. I tried a few of your money making investment videos... stick to the medical thing.. they are terrible and you have no idea what your talking about.. "Tribe"? If you have people paying you for your poorly explained simplistic ideas then at least your a good salesman..
Venezuela's mistake was a bureaucratic command economy which shifted the management of all businesses including mom and pop businesses to the oil company to manage after all the expertise in their oil company had left due to the nationalization of the oil companies not that you could expect the management of oil companies to undertake such a wide portfolio of businesses with any competence.
The US dollar is the world reserve currency and business management is still independent and hence flexibly governed by the so called invisible hand. The trend towards the $50,000 car started with the SUV and trucks becoming the predominant marketed vehicle and EV's will be pushed to o be the same luxury branding, this is just the auto industry's constant chase of profit with few disruptive competition other than Tesla. Venezuela is not a good comparison for what's in store for the US as expertise will not flee the US and being the reserve currency largely insulates from the worst of inflation risks. Note, that the usual approach to avoid hyperinflation is dollarfication where the National currency is tied to the US dollar, this was how Brazil escaped the hyperinflation trap.
The inflation risk that the US has is tied to the globalization and offshoring of manufacturing to China and even then China would be unwilling to allow the US currency to collapse suddenly. What happened in Venezuela can't fundamentally happen in the US, we do have concerns but a Venezuela like decline is not one of them.
You only live once might as well enjoy it while you can. if everything tanks, well you had a great time and then it's time to face what's coming. As long as you are able to work and have a trade in demand I wouldn't worry too much about it. The key to survival is your willingness to adapt to changes around you.
Face facts. This life, pre-Covid, is OVER.
Key word "if".
Very true -Thanks.
3:35 A honda civic is not 35K. It's 21.7K. Dr Vuong, I take you seriously when it comes to medical advice concerning covid-19, but not so much your financial views. I'm not saying you're wrong, but stick to your expertise. BTW, in your last video about your birthday, you were clean shaven. Today, you've got a full goatee. Did you really grow back your facial hair that quickly? I'm east-asian and it takes me like 2 weeks to grow back my mustache/goatee. If it took you only a day or two, that's pretty fast!
you are right---many hondas are 35k plus now....but the civic is not. He probably got the model wrong lol
Some cars I mean a lot of vehicles are $50-$60,000. The reason is because so many idiots are willing to spend that much on them
I have questioned his warnings to mask up even if vaccinated. Not a bad idea, but you need to be clean shaven for masks to work properly.
I bought a Civic in 17 and it was 25k. And that was the base edition. The one i wanted was 30k. Prices in cars are rediculous!
He probably pre records his videos so he can release them when he doesn't feel like making a new video. A lot of content creators have a build of extra videos in case something happens or they want a vacation but still want to release videos to make money and keep viewers engaged.
The difference is though doctor V is that the United States 🇺🇸 has the worlds reserve currency. The whole world uses the USD but no one outside of Venezuela uses the bolivar (if I remembered that word correctly). We certainly have inflation going on but i don’t think we will see hyperinflation, or so I have heard. The federal reserve and other central banking institutions are all in the same boat, they buy up stranded assets like dodgy mortgages that threaten market stability they also buy government debt in bonds because no one else will (fake demand). Essentially I am saying that the USA writes its own rules, they can change the game to suit themselves. What’s really happening is a massive wealth transfer, fake fiat money enriches the asset holders (real estate, commodities, businesses etc) while the average Joe is losing purchasing power each day, they can’t participate in wealth creation but rich people are just getting richer and richer. Not sure how long it can go on as massive wealth inequality surely leads to pitchforks like what happened in the French Revolution.
Yeah, I like Dr. V for medical updates but his economics is off here
Watch the global aspects undermining the USD reserve status.Afghanustan was a big one,as the Chinese gold-backed reserve introduced lately.
Dude, you need to stop watching fox business. In this country, inflation is due to corporate greed and scarcity due to corporate greed. The housing crisis is the most apparent example of this, currently.
They never call it inflation when the stock market is inflated.
My investments are in food, lots of food. Then silver, and some gold. Lastly, I am heavily invested in lead. Oh, everything I own is 100% paid off.
Me too , food and water
I've been making my small property more self-sustainable. Have barter agreements with folks who have or can do what I can not. I make what I need. Happy to buy secondhand. I forage and know which plants and mushrooms to avoid and which are nutritionally outstanding. Making connections among neighbors, too, because no man is an island.
Why lead? It seems like a massively abundant metal. Gold I can understand, but lead? 🤔
@@Mark_Jacobson81 lol, he means bullets
@@Mark_Jacobson81 He's referencing bullets when he mentioned lead. He's basically saying he's prepared to defend what he has from those who would try to take what they need by force.
This Recession is going to be worse than the 1929 Depression….
The Biden Administration's plan was to bankrupt America
@@kiwidinok888 how quick you all forget the trump garbage that has set us up for this disaster - unreal 🙄
@@thetlc9 horseshit
Sure it's the same thing they've been saying since FDR expanded public spending. 80yrs the big one is supposed to come.
If 2008 wasn't worse than the great depression it means we are never going to see another great depression.
What kind of hair growth product did you use for your mustache and beard? You went from fully shaved to a goatee in 2 days. Amazing!
TH-camrs often create content on days before they upload. Nothing strange about that. Done all the time.
Thank you for pointing that out. I thought it was obvious that my comment was a joke.
When it comes to medical advice I trust you. It is science. You are an expert. However shorting the market is market timing and that is not a smart investment plan. I am in the tribe for science and out for investing speculation.
Who needs investment planning. Dollars are unlimited. Commodities are not. Bye, buy spam :)
Absolutely right, Jo - this guy is a weight loss doctor, not an investment or financial expert. Just the other day, he was trying to recruit people into some scammy so-called "business opportunity" which was tremendously risky and very ill advised.
The market experts crashed the markets causing catastrophic economic failures.
There is no science behind economics. Technical analysis, quantitative analysis, etc., ad nauseum are all based on observation. Science is based on first principles, economics is based on concocted complexity, without true understanding.
Just in time production and inventory is now biting us in the ass.
@@solarray5236 *was* a weight loss doctor.