US Consumers Are on Life Support
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- เผยแพร่เมื่อ 10 พ.ค. 2024
- Peter Schiff on NTD'S Business Matters with Don Ma 5/10/2024
#inflation #economy #capitalgains
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It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
I understand how you feel. It's a little bit difficult to navigate things these days. You don't wanna lose whatever is left. I may suggest that you find a financial advisor who could give you thorough advice on how to go if you want to go the investment route. Also, the fact your business failed doesn't mean you should give up.
That's right. I have tried many failed businesses and it's just a step further. Don't despair. But to add, if you do decide to use a financial advisor, it's best you use someone who understands your special needs and can work with you. I learnt this from experience before finally finding one I can stick with. Now I make six figures from my investments alone, and even more from my businesses.
Thank you for the advice. When you say financial advisor, are you talking about hedge funds? And how do I get in touch with one?
Amber Dawn Brummit is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
She appears to be well-educated and well-read. I ran a Google search for her name and came across her website; thank you for sharing.
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.
45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.
How can I reach this person?
'vivian jean wilhelm’ maintains an online presence. Just make a simple search for her name online.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
High prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.
It's recommended to save at least 20% of your income in a 401k. You can use online calculators to estimate how much you should save based on your age and income. Saving at least 20% of your income in a 401(k) can help ensure that you have enough money to retire comfortably. By saving this much, you can take advantage of investing in the stock market and potentially grow your retirement savings over time.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five aiyears now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
High inflation is followed by uncertainty and panic, making me wonder if it's time to liquidate my $200k portfolio, or maybe consider some defensive investments. I've heard analysts emphasize on value stocks performing good, what stocks exactly can be the ultimate hedge?
consider diversifying your portfolio with a mix of stocks and stable assets, seeking professional advice could also be valuable to navigate market uncertainties and grow your investments amid inflation
True, expert guidance is vital for compounding and achieving proper asset allocation. At first hand experience, I've been able to grow my portfolio from $180k to approx. $650k in barely 3 years now. Financial fitness requires staying committed.
that’s some interesting numbers, mind revealing this person guding you ? he/she must be a seasoned advisor
Finding financial advisors like vivian jean wilhelm who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Liquidate and do what? Keep the eroding cash?
The inflation numbers, the unemployment numbers, the gdp numbers... All lies.
Can I site you as a source in my Econ paper?
yup
@@mb9662 Dont waste time on Econ. You probably do better as stand-up comedian.
Yeah, all the news wires and reporters should report the Shadow Stats, because the government gives us propaganda.
But but but ... the stock market is at all time highs. Surely we must be in a great economy. 😂
We've been in a recession for about 2 years. Changing the definition doesn't change the fact.
Yes, the Biden admin was able to create a fake positive GDP through a combo of high interest rates,
gov't spending and massive inflation that would cause consumers to have to work more to break even.
New economic growth has been negative for closer to 4 years, so that is technically how long we've been
in a recession. An economy is either growing or shrinking.
jeanah, back when Powell said inflation was transitory; He(Powell ) should have been raising interest rates back then about 1 year or more ago
Economy is so strong that everyone has to work two jobs and still can’t afford anything
nailed...I am exausted!😅
@@lioncross7 hehe me too! 😁
I’m working 3 jobs for a few years now 7 days a week I’m so used to it
If we cut out cell phones and internet and get rid of all the fast food and don't have to pay copays to see a doctors. We could save some money.
Exactly... at least 2 jobs, and even then many are still struggling. Everything's soaring except wages. Yet, fast food companies wonder why they're losing business, dealerships wonder why no one's buying their $75K+ trucks.
I have a good job with what used to be a good income, I’m broke.
My coworkers with good jobs are all broke. the consumer is tapped out. ☠️
redistribution of wealth, now were all poor.
You simps love that debt. How sloppy are y'all's Ole ladies? How financially illiterate are y'all? I work with a bunch of Sims as well and they all have women. They are all broke constantly but they'll go out of their way to tell me how they're going to the medieval festival and how their woman drags them around and they buy this and spend that and they're all living hand to mouth. I have no one to share my good times with at work and talk about how much silver I'm stocking each week.
@@These-times-are-awesome WRONG.!!!!!!!!!
It's even tough to make ends meet for a gigolo.
@@These-times-are-awesome you won't have any renters without lowering the rent you smooth brain.
I sold assets Friday to wipe away all my remaining debts. A pledged to myself to never pay interest again. Tired of possessions, I'm thinking of drastically downsizing and minimalizing.
Good move😊
GREAT IDEA...and you won't miss the stuff you get rid of. Less is more.
Good idea.
@slowmutant Incredible!!! I'm 55 and just retiring. Selling nearly everything and looking at Thailand or Philippines to live.
Yep until we stop putting up with getting fed dog food. Gen z is really sticking it to them 👏 we'll see
For boomers and senior citizens, the current market and economy are unnecessarily harder. I'm used to simply purchasing and holding assets, which doesn't seem applicable to the current volatile market, and inflation is catching up with my portfolio. My biggest concern is whether I'll survive after retirement.
Just buy and invest in Gold or other reliable stock , the government has failed us and we cant keep living like this.
Yes, gold is a great investment and a good bet against the devaluating dollar, been holding some for awhile now, I’m grateful my adviser’s moment by moment changes in the market are lightening quick, cos who know how much losses I would’ve had by now.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Colleen Rose Mccaffery” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Take a drive through a car dealership, the lots are completely full.
All full of junk
Me Msci ml
...and nobody is there.
The lots are completely of junk crap.
@@Paul-H-Wolfram6608 What would it take to get you in a new Nissan Rogue today?
Peter Schiff is the best economist! He is the one cares about everyone! Thank you sir!
Amen !
Is that why he’s a tax exile living in Panama?
@@jsanders100
He lives in Puerto Rico, not Panama, and if you have the money why not move to a different country or state where the tax laws are more lenient.
@@jsanders100 Mr. Schiff has a well-known aversion to paying taxes and lives in Puerto Rico
why doesn't SchiffGold list prices on their web-site? They ask you to call a salesman to get the info. Does that sound like he cares about YOU or the OPPOSITE, that his intention is to extract as much of your money as possible?
We are already in a recession.
Independent political analysts on TH-cam and other platforms have been saying for a couple of months now and there is no way back. Only the western medias ignore or lie abt it
My portfolio for the past 30 years has always been self managed and I own 3 shares of RPC WEALTH IAF Berkshire Hathaway Class A stock (BRK:A) which I bought in at about $17,000 during the mid 90s, I’m currently liquidating some of these positions to incorporate new Gen. Stocks, but am I better off re-investing into Gold as it seems stocks are a little too unstable right now.
Invest in real estate, ETfs and high-yield savings account.
Just buy Gold and protect your assets, the stock market is a rollercoaster.
The market is not necessarily a rollercoaster if you know your way around the market, there are various opportunities in the present market to accrue good profit. If you are not too savvy with the market, just buy and hold on strong companies with good earnings, or consult with advisors on ETFs and actively managed funds. I am up by 418% in 1 year under guidance.
@@AshleyKeith-vw7ws how do I get one and interview them? Considering your point I won’t want to get into a bubble. Can you recommend any?
@@BrianAlbert-hh3pi RPC WEALTH IAF is a hot topic even among financial elitists. Just browse, you’d find them, thank me later.
We are screwed.
That's what I've been getting out of things since after COVID
not if you hold som btc
we need to team up and stop paying income taxes in a massive boycott protest.
Just stop spending money. Use real gold and silver. The US dollar is the problem.
why do we pay taxes when we can print money?
@@geoms6263because printing more money will just cause more inflation. The government can't just print all the tax money. Our economy only gives out so much service and manufacturing. It's better to keep the money supply going with GDP. You don't want the money supply going way over GDP or way below GDP. There should be a healthy balance between the 2.
Unfortunately inflated numbers can lead to an inflated GDP as well. If services and products cost more the GDP will be more. But for the most part we can't just go printing more money. That's not how economics work.
That shouldn't be a protest. It should be a pemanent thing.
Most Americans are not liable to file and pay the federal income tax. Yet we all do it.
Currently I'm just being smart and frugal with my money, I'm in the green 47% over the last 23 months and l've accumulated over $70K in pure profits from DCA’ing into stocks, ETFs, dividends and futures. However I’ve been in the red for a month now. I work hard for my money, so investing is making me a nervous sad wreck. I don’t know if I should sell everything, sit and just wait..
Stocks are pretty unstable at the moment, but if you do the right math, you should be just fine. Bloomberg and other finance media have been recording cases of folks gaining over 250k just in a matter of weeks/couple months, so I think there are a lot of wealth transfer in this downtime if you know where to look..
completely agree. I have been consistent with my profit regardless of the market conditions. I got into the market early in 2019 and the constant downtrends and losses discouraged me, so I sold off. I got back in December 2020 and this time with guidance from an investment adviser who was recommended by a colleague..
Is there any chance you could recommend who you work with? I've wanted to make this switch for a very long time now, but I've been very hesitant about. I'll appreciate any recommendation.!
"Angela Lynn Schilling" is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.!!
I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip
Most of the clients I used to talk to just had spending problems, but now people are in massive debt just buying groceries and they are all angry about it.
LOL it's not groceries that's killing the consumer. It's their over indulgent living beyond their means. They should be angry at themselves.
Finally someone speaking some common sense.
Common to who?
@@dabeage common to anyone who isn't super rich, that buys food from a normal grocery store, spends half their income on rent, barely gets by... basically anyone who doesn't think the economy is doing well.
@@AKATenn You don't have to be super rich to live within your means. If you don't make enough money, get a different job. If you like what you do and it doesn't pay well, whose fault is that?
@@dabeage get a different job, like win the lottery... you act like you can go for a walk, and trip and fall on a good paying job any day... you don't have to be super rich to know the economy is doing bad either, but it certainly is easier to ignore it and pretend it's not a problem.
@@AKATenn I don't know what to tell you. We have good jobs here. You have to be educated but most good jobs require some expertise. I don't know where you live or what you do.....so? Good luck? I'm sure whining about it will make it all better.
Peter was right in 2009 but it’s AMAZING the fed got away with it for so long
They get away with it because the vast majority of the population haven’t a clue that they are the actual problem
Dear merciful Lord, have mercy on our once-great nation and save us from the traitorous clowns that would sell us and our children into slavery!
But you have broken the covenant of God. Thou shall not steal.
So God probably wouldn't help you.
back in a days ....our parents were slave traders
@@geoms6263 Blacks were sold into slavery bye other Blacks, many slave owners were Black. Many Irish whites were slaves also. Who's parents were slave traders? Not mine! not yours either, as that was like in 1863 all that generation is dead, and most of their children are also, so cut the crap of our parents were slave traders, they are all dead bye now. Most likely you never knew a slave, or a slave owner either.
You mean Socialists I hope
@@matthewmorgan7106 capitalists commoditize people buddy.
9% is the new 2% 😂😂😂
Don’t forget to add Uncle Sam’s 10%!tax which now has us losing 19% off the rip but also the true rate of inflation really feels like 20%
If a case of water at Walmart goes from $3.27 to $5.36 that's a 60% increase on an essential item, not 2 % or 9%.
Bidenomics on steroids.
From $7K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
I agree just reached my goal of $500k monthly trade earnings. Setting realistic goals is an essential part of trading..
Please educate me, i'm willing to make consultations to improve my situation,
Devion Jane expertise is truly commendable.
She has this skill of making complex crypto concepts easy to understand.
She's recognized as 'Mrs Devion. One of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
Don’t be confuse buying the dip in a bear market, with guaranteed future returns. Just because that company is down 60%+ from ATH does NOT make it a sound long-term investment. Make sure you’re investing in great companies. kudos to Devion Jane
Hahahhaa the drop was only transitory!! Lets throw that term back at em
Lol, that actually made me chuckle a bit. And I'm not even much of a Schiff believer.
We’re already in a Depression! Remember WE have the Welfare system now!
Auto Insurance companies are drastically raising rates for bogus reasons 😢
why do we pay taxes when we can print money?🤔
It's gonna be a sh*t show.
Looking sharp Mr. Schiff!
Americain are stuck at Zero bound.. anything above zero is too much interest for them!
Peter Schiff was right again😮
yeah it happens about every 20 years
@@gbh_events LIAR.!!!!!!!!!!!!
We've got 5 more to go then before the big crash.
Peter has unsuccessfully predicted the last 12 depressions….
If you voted for Biden / Harris , you voted for this !
Well remember Trump printed 3 trillion dollars out of thin air in the name of stimulus
Another myopic, partisan tool of the sell-out political duopoly. This has been a social & economic snowball dating back 40-50 years. The boom-bust economy is rigged by the billionaire/ultra-millionaire class because it benefits THEM. Voting red or blue just perpetuates the cycle of corruption & decimation of the working-class.
Every president for the last 20 years. 2 Republican and 2 democrats… your a fool! Wake up. They are trying to make your turn against your fellow American while they swim in cash.
Both parties are trash
False
keep up the good fight Peter
Respect, respect!
Life support..where? We are drowning and theirs no end in sight
Every single dollar I will make in the next 11 months is already spoken for 😭
Peter Schiff is right - again
End the system. End the insanity.
Absolutely! Not far away
They did this to make people want to end the system. The system used to work. But they broke the laws and rules and there’s nobody to hold them accountable. The system that will replace it will be 50x worse than it is now. The time to fix it was in 2008. It still could be fixed but the media is running cover and misconception on what is really going on.
Deregulate everything and about 75% of the inflation will go away within a year or two
End the Fed because we are fed up!
The new system they have planned is worse.
@@mirsaes Then, it's a no-brainer in what comes next. A choice.
Peter is a pragmatic realist. I've been following him and heeding his "tea leaf reading" for years.
He always says the same thing, they all do.
Yeah all Peter's followers love him.Go talk to them on skid row!
Has it made your life better listening to him? Financially? Do you feel good about that sort of lifestyle?
@@WInnerwinnerchickendinner.You sound like an MMT believer
The consumer is financially tapped out...nothing more to give...
I think inflation is more important than rates. If they don’t stop the inflation, nothing good as ever going to happen.
Correct! The only way we fix this issue is raising rates to 12-15%, stopping all big ticket purchases in the process. Finally enter the recession/depression so we can reset all pricing and have deflation. Longer we hover at this interest rate, we ll stay at stagflation and keep kicking the can down the road, eventually we ll hit a cliff and it will happen.
So much money has been spent and continues to be spent...we are in it for a lifetime
@@tracymerriman3996 in my opinion, this administration wants to kick the can down the road. Because then they can blame the next guy.
@slowmutant yeah, there’s no great solution, but they’ve got to do something to stop inflation. It’s going to be a rough road, but we got to start it to end it.
Debt serfdom with high mortgages and buy now, pay later schemes. Credit is maxed out, multiple jobs is not going to cut it......
You can order something for $50 off Amazon, and they give you the option to pay it on credit in four payments. WTF?
"Consumer" is an elite euphemism for the original term "useless eater."
in which countries? never heard it in USA
@@tmac9938 we use it to talk about you amongst ourselves. Publicly we refer to you as "Human Capital Stock"
@@tmac9938More than likely in Europe, in the US you hear the term "consumer". You need to be in the elite circle to hear the term "useless eaters".
@@daiyousei3847 who's we?
The government in general never make good decisions
Good day , Mr Schiff , greetings from the land down under . Been following you for 2 decades . Kudos to you , sir for eludicating the very truth .
Mark Twain said this, "There are lies,damn lies and statistics". He's so right.
I think it was Ross Perot or Ron Paul who said, 25 years ago, to cut all gov't employees salaries by 10 percent, with a three year salary freeze. That was supposed to fix things in a few years BUT that was when the deficit was only a few trillion.
I think we're fu*ked at this point. 🤣🤣
Agreed.. Something is going to break soon enough.
So so fu*ked 🔥
yeah i WISH we could still use solutions like that... we're too far gone
The incompetence and corruption that runs through this administration are getting more ridiculous. I feel for people with disabilities not getting the help they deserve. Thank you Laura Ferguson, imagine investing $1.200, and receiving $9,500, in 4 days.
That's awesome I know nothing about investment and I'm keen on getting started. What are the strategy?
I'll advise you to work with a financial advisor....Building a good investment portfolio is more complex so I would recommend you seek
No doubt!! I never knew Laura Ferguson had gone viral. I decided to back up my assets and property with her when we met at a conference in New Jersey for the first time.
I'm surprised you also trade with Laura Ferguson, she's the best at what she he does. At first i was afraid too before i gave it a try and realized fear kills dream more than failure.
just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
Stop buying....then the prices will come down.
🎯🎯🎯🎯...too bad American's are all brainwashed to be consumers. Got to keep up with the Jones's. The American way.
Problem is governments pushed Interest rates way to low for way to long and then when inflation took off wouldn't push Interest rates up fast enough, economy needs to crash and burn to recover.
That’s if it will recover ,I mean if they hike too high the consumer will be decimated to even be able to stage a rebound.
We are crashing and burning with no recovery. Our leadership is alienating all our allies, opened our borders, stopped drilling for oil, outsourcing jobs. We are toast. It's done. Figure out a plan. We are about to understand how 3rd world countries live.
Today's consumer (globally) doesn't consumes goods that much, but consumes services to the fullest.
I have followed Peter Schiff for years. You Americans are so fortunate to have him. My motto when looking for accurate economic and financial information is "always listen to the maverick". Peter is a maverick whose financial wisdom is without equal. No-one here in England comes close.
Rates need to be at 80's levels, which cannot possibly happen with all the bubbles that have been created. = fiat dies, new system HAS to come in. Hold precious metals.
I took out a HELOC because I was laid off from my 12-year career. I have saved income; however, because my earned income has stopped, the HELOC now has a 14% interest rate, and I have a 780 credit score. I don't know where these percentages are coming from on various news channels. Here in Las Vegas, our groceries are up 100%, not 30%. Utilities are up 50%, and rentals are up 50%. Many white-collar career people have been laid off.
They're lying and changing definitions...they only have to hold it together until November and then introduce the new communist state with CBDC and shut you out.
It’s Bidenomics baby!!!
He turned it around!
Peter is a smart man
Bye, Bye Biden!
be respectful ,call him president bidet
Why not blame the true culprits?
The privately held Fed did this to our currency
@@hink0027So tRumptard did so well to allow Covid to sweep the country.
Keep trying vlad.
@@user-sj7fu6es3y The politicians that did not have a balanced budget, Jimmy Carter the last President to have a balanced budget. It was Ronald Reagan that started this spend everything you can . Every politician and president since then has done the same. I think Trump tried to do what's right, but it's going to take other politicians ( a Majority ) to make changes. One person can not do it alone. Maybe it's too late, and bankruptcy is the answer.
@@troyb.4101
Balanced budget and adding to the national debt are two different issues
Every single president since 1971, with Nixons “temporarily” removing the dollar from the gold standard has increased the national debt to new highs
The last 3 presidents have increased it the most through out history. Obama, Trump, and now Brandon
45 increased it 7.8 trillion dollars in 4 years. The largest increase since WW2.
This Ponzi scheme is coming to an end. The dollar’s days of holding the reserve currency are numbered.
Agree to stop government spending is one of the solution…😅
Nobody has a plan to repay the debt and it never will be repaid.
When you get gas/pretrol, walk around and look at the other fuel purchases on the other tanks. I am seeing about 2/3 of the fuel purchases in tiny numbers, like $10, $15... I feel like it might indicate that many are literally scrapping bottom on their credit card maximums.
They are.. especially in food, fuel and rent
Peter is correct. Also auditing the fed and letting more big things fail would help tremendously
Cut the defense budget. Cut farm subsidies for soy, corn, wheat. Cut Congressional salaries…
Losing a good job and getting a lower payer job also lowers tax receipts, plus many collect food stamps etc
You have to find a job for less than $10/hr in my state to qualify for food stamps 😒
@@MadamchiefYet illegals are getting $5000 dollar debit cards for breaking the law.
Don't worry: thousands of drivers, rocket scientists, engineers, doctors, lawyers, nurses, craft mans, salesmen, analysts, pilots, are coming in USA everyday. They will push US economy in completely new ways, never experienced before. So just relax, take a deep breath, and enjoy mostly peaceful transformation into...
Government doesn’t want to downsize and consumer doesn’t want to downsize. Consumers raiding their early retirement and taking out home equity loans.
Being retired, and having no debt. I'm not buying nothing with this hyper inflation. I would not sell my ranch of 55 acres. I could not afford to pay for labor to rebuild anything. When I was 20 years old I worked for $2 per hour, now they want $100 per hour for skilled labor. $20 to flip hamburgers. For $20 I'll buy like three pounds of Hamburger some bread, and have hamburgers all week long. USA has started the great depression again.
if your retired, then you remember Carter… tell them it can be worse.
They want those wages because the cost of living has soared.
@@drachenmarke With Jimmy Carter you could get 10% for a bank savings account. We had minimum wage at like $2 and could pay the bills, The wife and I had no problem putting away money. You could find low paying jobs everywhere. It is bye far worse now, and getting no better anytime soon.
@@Tomorrison28 So they vote themselves other peoples money? now the minimum wage is zero. They vote themselves all kinds of welfare any time they can.
Can someone answer if inflation continues to go up why even worry about a good credit score what’s the point ??
Social benefit. Shows knowledge of algorithms and math, which are growing in importance. But yeah it feels like a joke when your good credit can’t buy you last decades interest rate.
love how you said that the dip in inflation was transitory
All of this is prescribed!
Yep it's been planned for the last 200 years right?
The middle class is no more. The upper middle class is the new middle class. A country is broken when 50% of its people don’t have $1000 cash.
I want to see interest rates go up to 10% or even 15% let's get this all sorted out.
👍👍 Thanks for the update! Despite the economic recession, I no longer depend on Government Grants since I acquire $86,400 weekly profits.
Great news! how did you get that?
It's all thanks to Robert Marion
trading under proper guidance remains the best way to succeed in today's crypto market.
I know Robert Marion. He platform maintains a unique perspective and is very transparent with their investors. Regardless of whether or not he outperforms. I will forever stay invested!
Yeah, $60k from Robert Marion, looking up to acquire a new house, blessings 🙌
High interest rates are good for savers, US needs more savers, rates should be higher. Consumers need to cut expenses and increase savings, not that hard to do, No Restaurants, No Charity, No Entertainment, just focus on monthly expenses and make your own food.
He didn’t even complain about bitcoin. Must be in denial.
Simple example if gas prices increases Rest automatically will go up we daily depend on gas
I already just work pay rent and phone and just eat at home for years now so whats new.
same....
What's new? Hyperinflation.
One bag of groceries is $50 today . Remember the days when you could fill up your entire cart.
We don’t know whether interest rate is in wrong direction or not, but I feel like its current rate is out of control for both inflation and economy.
Not only decrease spending but rates need to go to 15% to shake out all the companies and individuals leveraging debt too dangerously
Damn I’ve been following Peter Schiff for years and he’s been saying the same thing for literal decades.
The Maginot Line is at about $70k income/yr. This is the division between the haves and have nots.
Yeah I don't know though, people want the government to respond to the economic crisis, but they also don't want the government to spend money. So then what? They tried to spend money at the boarder, argued over it, nothing gets done. Every time they try to respond, they argue and nothing gets done. It's annoying. The democratic process, of passing things and taking action is literally being ripped apart rn imo
I know Peter often drives people crazy but I just love the guy. His sense of humor can be hysterical. I wish we could see more of it!
everything you said makes sense to me
When is the house market going to fall???
It won't until you kick out the milllion upon million CONSUMING illegal aliens.
In dollar terms? Never
When layoffs increase further soon….
Never
Investing in gold seems like a good move, especially with the current market uncertainty.
Absolutely, gold has always been a safe haven asset in times of economic turbulence.
But isn't investing in gold quite complicated? I've heard stories of people losing money because they didn't understand the market.
@@EricaWaters-lr6zw That's true. Without proper guidance, it's easy to make costly mistakes.
That's where a pecuniary consultant like DESIREE RUTH HOFFMAN can help. Her idea in gold speculation and provides pundit guidance to navigate the peddle effectively.
@@BrianAlbert-hh3pi I've heard of DESIREE RUTH HOFFMAN, Isn't she known for her comprehensive approach to financial planning?
Right again P
What I don't understand is how there's record travel, cruises sailing full capacity, Macy's earnings up, restaurants busy? High priced houses still selling?
Love the tie 👔 Big Guy!
If capitalism is so great why don’t consumers just negotiate prices for food… if they grocery store wants to sell it then they can lower the price, same with manufacturers
Live way below your means if you can. I am, and I thank God that inflation isn’t affecting me. If you live somewhere unaffordable, consider moving somewhere cheaper. Sell your home and use that equity to buy something cheaper. Interest rates are high but you can always re-finance. Get out of debt by not being a slave to consumerism. Thanks to your videos Peter I’ve learned a lot about economics and have been able to use that knowledge
Where do you think all the jobs come from?
Of course….❤
That's why they call it the CP Lie.
I see Outlet malls are full of customers feels like a boom . Real wealth isn’t credit and debit cards it’s assets .
not the malls around here.!!!!!!!!!!
Appreciating assets, not depreciating ones.
Are you a bot? lol...
Our malls are shutdown and abandoned. No one shops anymore; it's all bought on fl33bay and scamazon
In Schiff we trust
Jay Powell never thought he would have to make Sophie's choice.
Peter Schiff is the man. He is the ONLY one that truly understands what's happening with the economy. He's also the only economist that doesn't pull any punches, and isn't afraid to tell it like it is or call anyone out. The Fed should have hired him to be the chair (instead of that spineless Powell) before the situation became a dumpster fire. It's too late now to turn the ship around.
Breaking News: Economy Sucks, Consumers Unhappy. Film at 11.
The popcorn you’re eating has been pissed in….film at 11.
Is coming folks! 😮😢
Yeah no consumer is still strong!
"When gold is $10k, you won't care if you bought at 2300, or 2400. Don't wait for a tiny dip. Don't get cute. Buy the gold now." This is the best few sentences he says, and when he repeats them it's exactly what everyone needs to hear.
Vicious Circle
3:55 - 4:25 I work for the State and thank God my boss from my last job decided to keep me in the payroll, I can pick up some shifts waiting tables to make the end meet...weekends I rather to stay home than hanging out $$$$...