Podcasts about american debt

Owe no man nothing, says the scripture.The fact remains, however, that every single American is in debt, EVERY ONE OF US. Every day of every month, we owe someone something. That debt could be as normal as a phone bill, electric bill, cell phone or cable bill, or currently repayable credit card bills. But, we always owe something if we wish to live in any reasonable way in this world.What that debt admonition means is that we ought not to owe anything which we cannot repay in the present in whole or in part. None of us could own a home unless we were able to borrow a mortgage for 10, 20 or 30 years, and make the monthly payments with interest thereon. If we can repay that 30-year debt on a monthly basis and timely so, that is a manageable obligation and not the kind of debt proscribed by scripture.Debt, unpayable debt, and especially that debt which accumulates with interest, sometimes as much or almost so as the debt principle itself is crushing. It is always there, its presence a constant reminder that so much of the future has been mortgaged and that our present spending endangers and preempts our options for the future. Families are ruined by that kind of debt. So are marriages. Profligate businesses go bankrupt and governments, nations and states which over-borrow and accumulate crushing interest obligations sacrifice the future for the present. They kick the financial can down the road.And that, my fellow Americans, is the pathway and the financial condition of our beloved America. Our once great country, operating on a current budget, the financial envy of the world, the dollar the hallmark of financial stability, is now the unbelievable debtor in the amount of:$36 TRILLION DOLLARS.$36 Trillion Dollars. As incredible, hard to believe, and frightening as that number is, the interest America pays on those $36 trillion dollars of debt is now at or about:$1.3 TRILLION DOLLARS ANNUALLY.$1.3 Trillion dollars in interest alone!That means, my fellow Americans, that every American household owes as much as $275,000 of that debt. Or that also means that every tax paying person in America, every citizen, owes the sum of approximately $110,000 to our creditors, foreigners and foreign nations, and American business entities and individuals. $275,000 PER HOUSEHOLD and $110,000 PER PERSON. That is the kind of debt with interest that scripture so aggressively warns against. But we do nothing, our leaders do nothing to stop the bleeding and solve the problem. The overwhelming debt problem. But some day, we will have no choice but to deal with this horrendous financial reckoning.Economists now believe that the nation's debt of at or about $36 Trillion Dollars is indeed an existential threat to our great country, and to us, we the people. The fact of the matter is that America does not owe this debt, we do. WE, THE PEOPLE, the citizens of this great country owe that $36 trillion dollars, with its unbelievable annual interest burdens. WE OWE THAT MONEY! And someday, we will have to pay it. What an unbelievable effect that will have on our lifestyles and our future. That existential threat threatens our very existence!But our Federal Government continues in its profligate way. It spends, and it spends more. It never seems to care because it can postpone the debt, financing even more of its spending, and it always has what it thinks is the fail-safe remedy, and that is:TAXATION.More taxation, more taxes, for we the people to pay.And more bad financial news. Economists estimate that by the year 2034, a decade from now, America will add $20 trillion dollars to its debt of $36 trillion dollars, which would put our country in debt by the staggering sum of $56 trillion dollars, $56 TRILLION DOLLARS! And some economists think those estimates are conservative, believing that the real debt will be as high as $60 trillion dollars or even more if spending continues as is. That would also mean that the annual interest alone on that staggering debt would be somewhere between $2 Trillion and $2.5 Trillion Dollars Annually, and possibly more. In the year 2034, our total debt will be approximately 120% of our Gross Domestic Product (GDP). And hear these words carefully:NO NATION HAS EVER CARRIED THAT KIND OF GOVERNMENT-DRIVEN DEBT AND ESCAPED CALAMITY. NOT ONE GOVERNMENT IN THE ENTIRE HISTORY OF MANKIND HAS EVER SPENT OR WILL SPEND WHAT WE AMERICANS ARE AND ESCAPED ABSOLUTE AND TOTAL DISASTER AND CALAMITY.Not to worry, say the Democrats in charge and in power and seeking four more years of spending privileges, assuming the election of Harris-Walz. We will simply tax the rich more and more. Even if there is a sharp rise in the tax rates for the wealthy, that meager amount of additional income would never begin to seriously pay down the debt which our once fiscally responsible America now owes and will owe ten years from now.But that day of reckoning will come when we the people will pay an unbelievable price for the profligate way our Federal Government spends our money and accumulates this strangling, bankrupting debt.Regarding the so-called rich, the top 1% of Americans in terms of earnings reported 26.3% of the country's adjusted gross income and paid accordingly:Almost 46% of total income taxes!All the rest of America's taxpayers, 99% of them, paid the grand total of 54% of all taxes. But there is never any effort to tax more the 54% but only the so-called rich and wealthy 46%. That is fiscal policy which leads to absolute disaster!Even more interesting, the top 10% of all earners in America provided 76% of the total revenue, tax revenue, and the other 90% of taxpayers provided 24% of tax revenue. If you were not one of the so-called wealthy, you have really gotten off cheap by taxing comparison.Our great country, We The People, face the ever-present possibility of default in payments to our creditors, now $36 trillion dollars and in 10 years to be some $60 trillion dollars. That default of any serious kind would set off a major depression and fiscal revolution THE WORLD OVER. That economic crisis could well ruin the world.There would also exist in America HYPERINFLATION. That is what occurred in Germany where the German Mark was absolutely worthless. If those tragic and calamitous conditions arise in America, our dollar will be just like that Mark and virtually worthless itself.That debt-caused disaster will produce incredible internal instability, even revolution, and the very real potential of the destruction of law and order. It could also occasion the rise of dictatorship, as the very same fiscal problems in Germany gave rise to Adolf Hitler and it would undoubtedly be the end of our great democracy.But, my fellow Americans, that debt and the problems it causes, are:OUR FAULT.Our responsibility. We the People allowed that debt to happen. We continue one election after another to elect a president, a senate, a house of representatives which do nothing, absolutely nothing about the problem, continue to spend, talk the talk but never walk the walk, and again do absolutely nothing about this incredible end-of-America problem, nothing but nothing. But the day of economic reckoning comes, and we will pay, WE WILL PAY! Or, our children and grandchildren will pay. The life and lifestyle which they hope for and work for will never materialize and the America we now know will never be the America they will ever know. What America once was fiscally and economically will be nothing more than an historical footnote.Wake up, my fellow Americans, please wake up. You vote, you elect these politicians to represent you. You allow them to spend your money, to tax you, to do as they please with YOUR money but the one thing they never do is hold themselves accountable for the way they spend your money, the fiscal problems they are causing, and the insurmountable debt they are creating, which may very well never be repaid. That of course would be the end of the democratic America we now love and enjoy. But again, we have no one to blame but ourselves. We the People allow these reckless economically indifferent or ignorant politicians to do what they please, spend our money as we will, and we continue to do nothing:NOTHINGabout that spending or them. When this disaster, this calamity occurs, we will have no one to blame but:OURSELVES – WE THE PEOPLE!

Irish inflation this week confirmed that the economy is showing few, if any, obvious signs of overheating. Prices are still going. up but at their slowest pace in a long while. That said, prices are 20% higher than we saw pre-pandemic. Memo to economists: don't pretend you know what causes inflation.European interest rates are still too high.When does government debt matter? 100% of GDP? 300% of GDP? As always, it all depends! But the US is adding to its debt in a most reckless and unsustainable manner.The Draghi report is worth reading at least twice. It is incredibly hard hitting. Europe's economy is falling far behind the US. His message to Euope's policymakers: do whatever it takes to catch up. Otherwise, the European project risks failure. Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns. Hosted on Acast. See acast.com/privacy for more information.

A political history of the rise and fall of American debt relief. Americans have a long history with debt. They also have a long history of mobilizing for debt relief. Throughout the nineteenth century, indebted citizens demanded government protection from their financial burdens, challenging readings of the Constitution that exalted property rights at the expense of the vulnerable. Their appeals shaped the country's periodic experiments with state debt relief and federal bankruptcy law, constituting a pre-industrial safety net. Yet, the twentieth century saw the erosion of debtor politics and the eventual retrenchment of bankruptcy protections. The Political Development of American Debt Relief (U Chicago Press, 2024) traces how geographic, sectoral, and racial politics shaped debtor activism over time, enhancing our understanding of state-building, constitutionalism, and social policy. Emily Zackin is Associate Professor in the Department of Political Science at Johns Hopkins University. Her first book was Looking for Rights in All the Wrong Places: Why State Constitutions Contain America's Positive Rights (Princeton UP, 2013). Chloe Thurston is Associate Professor in the Department of Political Science at Northwestern University. Her first book was  At the Boundaries of Homeownership: Credit, Discrimination and the American State (Cambridge UP, 2018). Host Ursula Hackett is Reader in Politics at Royal Holloway, University of London. Her first book was America's Voucher Politics: How Elites Learned to Hide the State (Cambridge UP, 2020). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/new-books-network

A political history of the rise and fall of American debt relief. Americans have a long history with debt. They also have a long history of mobilizing for debt relief. Throughout the nineteenth century, indebted citizens demanded government protection from their financial burdens, challenging readings of the Constitution that exalted property rights at the expense of the vulnerable. Their appeals shaped the country's periodic experiments with state debt relief and federal bankruptcy law, constituting a pre-industrial safety net. Yet, the twentieth century saw the erosion of debtor politics and the eventual retrenchment of bankruptcy protections. The Political Development of American Debt Relief (U Chicago Press, 2024) traces how geographic, sectoral, and racial politics shaped debtor activism over time, enhancing our understanding of state-building, constitutionalism, and social policy. Emily Zackin is Associate Professor in the Department of Political Science at Johns Hopkins University. Her first book was Looking for Rights in All the Wrong Places: Why State Constitutions Contain America's Positive Rights (Princeton UP, 2013). Chloe Thurston is Associate Professor in the Department of Political Science at Northwestern University. Her first book was  At the Boundaries of Homeownership: Credit, Discrimination and the American State (Cambridge UP, 2018). Host Ursula Hackett is Reader in Politics at Royal Holloway, University of London. Her first book was America's Voucher Politics: How Elites Learned to Hide the State (Cambridge UP, 2020). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/history

A political history of the rise and fall of American debt relief. Americans have a long history with debt. They also have a long history of mobilizing for debt relief. Throughout the nineteenth century, indebted citizens demanded government protection from their financial burdens, challenging readings of the Constitution that exalted property rights at the expense of the vulnerable. Their appeals shaped the country's periodic experiments with state debt relief and federal bankruptcy law, constituting a pre-industrial safety net. Yet, the twentieth century saw the erosion of debtor politics and the eventual retrenchment of bankruptcy protections. The Political Development of American Debt Relief (U Chicago Press, 2024) traces how geographic, sectoral, and racial politics shaped debtor activism over time, enhancing our understanding of state-building, constitutionalism, and social policy. Emily Zackin is Associate Professor in the Department of Political Science at Johns Hopkins University. Her first book was Looking for Rights in All the Wrong Places: Why State Constitutions Contain America's Positive Rights (Princeton UP, 2013). Chloe Thurston is Associate Professor in the Department of Political Science at Northwestern University. Her first book was  At the Boundaries of Homeownership: Credit, Discrimination and the American State (Cambridge UP, 2018). Host Ursula Hackett is Reader in Politics at Royal Holloway, University of London. Her first book was America's Voucher Politics: How Elites Learned to Hide the State (Cambridge UP, 2020). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/political-science

A political history of the rise and fall of American debt relief. Americans have a long history with debt. They also have a long history of mobilizing for debt relief. Throughout the nineteenth century, indebted citizens demanded government protection from their financial burdens, challenging readings of the Constitution that exalted property rights at the expense of the vulnerable. Their appeals shaped the country's periodic experiments with state debt relief and federal bankruptcy law, constituting a pre-industrial safety net. Yet, the twentieth century saw the erosion of debtor politics and the eventual retrenchment of bankruptcy protections. The Political Development of American Debt Relief (U Chicago Press, 2024) traces how geographic, sectoral, and racial politics shaped debtor activism over time, enhancing our understanding of state-building, constitutionalism, and social policy. Emily Zackin is Associate Professor in the Department of Political Science at Johns Hopkins University. Her first book was Looking for Rights in All the Wrong Places: Why State Constitutions Contain America's Positive Rights (Princeton UP, 2013). Chloe Thurston is Associate Professor in the Department of Political Science at Northwestern University. Her first book was  At the Boundaries of Homeownership: Credit, Discrimination and the American State (Cambridge UP, 2018). Host Ursula Hackett is Reader in Politics at Royal Holloway, University of London. Her first book was America's Voucher Politics: How Elites Learned to Hide the State (Cambridge UP, 2020). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/american-studies

A political history of the rise and fall of American debt relief. Americans have a long history with debt. They also have a long history of mobilizing for debt relief. Throughout the nineteenth century, indebted citizens demanded government protection from their financial burdens, challenging readings of the Constitution that exalted property rights at the expense of the vulnerable. Their appeals shaped the country's periodic experiments with state debt relief and federal bankruptcy law, constituting a pre-industrial safety net. Yet, the twentieth century saw the erosion of debtor politics and the eventual retrenchment of bankruptcy protections. The Political Development of American Debt Relief (U Chicago Press, 2024) traces how geographic, sectoral, and racial politics shaped debtor activism over time, enhancing our understanding of state-building, constitutionalism, and social policy. Emily Zackin is Associate Professor in the Department of Political Science at Johns Hopkins University. Her first book was Looking for Rights in All the Wrong Places: Why State Constitutions Contain America's Positive Rights (Princeton UP, 2013). Chloe Thurston is Associate Professor in the Department of Political Science at Northwestern University. Her first book was  At the Boundaries of Homeownership: Credit, Discrimination and the American State (Cambridge UP, 2018). Host Ursula Hackett is Reader in Politics at Royal Holloway, University of London. Her first book was America's Voucher Politics: How Elites Learned to Hide the State (Cambridge UP, 2020). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/public-policy

A political history of the rise and fall of American debt relief. Americans have a long history with debt. They also have a long history of mobilizing for debt relief. Throughout the nineteenth century, indebted citizens demanded government protection from their financial burdens, challenging readings of the Constitution that exalted property rights at the expense of the vulnerable. Their appeals shaped the country's periodic experiments with state debt relief and federal bankruptcy law, constituting a pre-industrial safety net. Yet, the twentieth century saw the erosion of debtor politics and the eventual retrenchment of bankruptcy protections. The Political Development of American Debt Relief (U Chicago Press, 2024) traces how geographic, sectoral, and racial politics shaped debtor activism over time, enhancing our understanding of state-building, constitutionalism, and social policy. Emily Zackin is Associate Professor in the Department of Political Science at Johns Hopkins University. Her first book was Looking for Rights in All the Wrong Places: Why State Constitutions Contain America's Positive Rights (Princeton UP, 2013). Chloe Thurston is Associate Professor in the Department of Political Science at Northwestern University. Her first book was  At the Boundaries of Homeownership: Credit, Discrimination and the American State (Cambridge UP, 2018). Host Ursula Hackett is Reader in Politics at Royal Holloway, University of London. Her first book was America's Voucher Politics: How Elites Learned to Hide the State (Cambridge UP, 2020). Learn more about your ad choices. Visit megaphone.fm/adchoices

A political history of the rise and fall of American debt relief. Americans have a long history with debt. They also have a long history of mobilizing for debt relief. Throughout the nineteenth century, indebted citizens demanded government protection from their financial burdens, challenging readings of the Constitution that exalted property rights at the expense of the vulnerable. Their appeals shaped the country's periodic experiments with state debt relief and federal bankruptcy law, constituting a pre-industrial safety net. Yet, the twentieth century saw the erosion of debtor politics and the eventual retrenchment of bankruptcy protections. The Political Development of American Debt Relief (U Chicago Press, 2024) traces how geographic, sectoral, and racial politics shaped debtor activism over time, enhancing our understanding of state-building, constitutionalism, and social policy. Emily Zackin is Associate Professor in the Department of Political Science at Johns Hopkins University. Her first book was Looking for Rights in All the Wrong Places: Why State Constitutions Contain America's Positive Rights (Princeton UP, 2013). Chloe Thurston is Associate Professor in the Department of Political Science at Northwestern University. Her first book was  At the Boundaries of Homeownership: Credit, Discrimination and the American State (Cambridge UP, 2018). Host Ursula Hackett is Reader in Politics at Royal Holloway, University of London. Her first book was America's Voucher Politics: How Elites Learned to Hide the State (Cambridge UP, 2020). Learn more about your ad choices. Visit megaphone.fm/adchoices

A political history of the rise and fall of American debt relief. Americans have a long history with debt. They also have a long history of mobilizing for debt relief. Throughout the nineteenth century, indebted citizens demanded government protection from their financial burdens, challenging readings of the Constitution that exalted property rights at the expense of the vulnerable. Their appeals shaped the country's periodic experiments with state debt relief and federal bankruptcy law, constituting a pre-industrial safety net. Yet, the twentieth century saw the erosion of debtor politics and the eventual retrenchment of bankruptcy protections. The Political Development of American Debt Relief (U Chicago Press, 2024) traces how geographic, sectoral, and racial politics shaped debtor activism over time, enhancing our understanding of state-building, constitutionalism, and social policy. Emily Zackin is Associate Professor in the Department of Political Science at Johns Hopkins University. Her first book was Looking for Rights in All the Wrong Places: Why State Constitutions Contain America's Positive Rights (Princeton UP, 2013). Chloe Thurston is Associate Professor in the Department of Political Science at Northwestern University. Her first book was  At the Boundaries of Homeownership: Credit, Discrimination and the American State (Cambridge UP, 2018). Host Ursula Hackett is Reader in Politics at Royal Holloway, University of London. Her first book was America's Voucher Politics: How Elites Learned to Hide the State (Cambridge UP, 2020). Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://newbooksnetwork.supportingcast.fm/finance

Chuck Zodda and Paul Lane discuss why American debt stings like never before in new era for households. Dollar Stores get devalued as low-income consumers struggle. More middle manager are being laid off. Biden's 'billionaire tax' takes aim at the super rich, but can a wealth tax work in reality? The new retirement dream is phased in gradually and includes 'work for pleasure'. China signals opposition to forced sale of TikTok in the US. Paul LaMonica joins the show to chat about Microsoft and what could be on the horizon for the tech giant.

Today Alainta and Lawrence discuss their consumer debt and how they are managing them. Tune in for tips so you can talk about debt and strategically tackle it.  American households carry a total of $17.29 trillion in debt as of the third quarter of 2023, and the average household debt is $103,358 as of the second quarter of 2023.Wait what's a Financial Griot?The Financial Griot is a play on two words (Finance + Griot) that hold significance in closing the wealth gap while embracing our differences. We tell the stories that others don't. Stories about growth, opportunity, and even Wars. Beyond that, we tie it back to how it reflects on your finances. Specifically, we are teaching you how to become financially literate, incorporate actionable steps, and ultimately build generational wealth.Can you imagine being a Millionaire in 20 years or less? Yeah, it's possible. 80% of millionaires are the first generation. That means they didn't come from wealth. We teach you how. Join a community of subscribers who welcome a fresh take on money.So there you have it, The Financial Griot, or TFG for short. The hosts were able to amass over $2 Million in wealth in about eight years and are on track to retire early. We will gladly share the secrets if you want them since the opportunity is abundant and Win-Win.Find the TFG Crew Hosts on InstagramAlainta Alcin - Blogger, Travel and Money Enthusiast https://www.linkedin.com/in/alaintaalcinLawrence Delva-Gonzalez, Financial Foodie and Travel Blogger @theneighborhoodfinanceguyLovely Merdelus - Entrepreneur and Small Business Growth Specialist @lovelymerdelus

The markets are shrugging off the Fitch downgrade of the U.S. long term credit. Business titans like JPMorgan Chase CEO Jamie Dimon told CNBC that America's credit is sound, and Warren Buffett told CNBC that he isn't worried either; he's not slowing down his purchases of Treasury bills. Senator Joe Manchin (D-West Virginia) responds to the downgrade and to those comments from Buffett and Dimon, and suggests that there's something lawmakers could learn from the decision, about responsible fiscal spending.  In this episode:Sen. Joe Manchin, @Sen_JoeManchinAndrew Ross Sorkin, @andrewrsorkinBecky Quick, @BeckyQuickJon Fortt, @jonforttCameron Costa, @CameronCostaNY

EconoFact Chats regularly hosts a panel interview with the distinguished economic journalists Binyamin Appelbaum of The New York Times, Scott Horsley of NPR, Greg Ip of The Wall Street Journal, and Heather Long of The Washington Post. In this latest installment, the panel has a wide-ranging discussion, including on the topics of: the fight over the debt limit, its resolution, and the possible consequences of this political fight (Moody's notes that the United States has one of the least affordable debt burdens among advanced economies); the debate the over sources of current inflation, policies to bring it down, and whether the Federal Reserve should continue to have 2 percent as its preferred inflation target rate; and the Administration's arguments for, and possible limits to, reshaping the American economy through policies like the Inflation Reduction Act and the CHIPS Act.

EconoFact Chats regularly hosts a panel interview with the distinguished economic journalists Binyamin Appelbaum of The New York Times, Scott Horsley of NPR, Greg Ip of The Wall Street Journal, and Heather Long of The Washington Post. In this latest installment, the panel has a wide-ranging discussion, including on the topics of: the fight over the debt limit, its resolution, and the possible consequences of this political fight (Moody's notes that the United States has one of the least affordable debt burdens among advanced economies); the debate the over sources of current inflation, policies to bring it down, and whether the Federal Reserve should continue to have 2 percent as its preferred inflation target rate; and the Administration's arguments for, and possible limits to, reshaping the American economy through policies like the Inflation Reduction Act and the CHIPS Act.

“The American Debt” “Elite Mentality Toward the Masses” “Scraping the Bottom of the Barrel” “Cocaine Mice” 

Rob West is the Host of Faith and Finance Live. Today, Rob answers questions about the headlines surrounding the government debt crisis in our country, and what that means for our nation as well as for individuals and families. He also shares principles for money / debt management listed in scripture which not only benefit families but can benefit a nation. See omnystudio.com/listener for privacy information.

American Debt

We discover Chris' experience living outside the system, the US government income tax scam and the difference between tax avoidance and tax evasion. We discuss the potential benefits and downfalls of cryptocurrencies and our projections on the future of privacy coins. Uncover how Ozone treatments may help you stay young and healthy. The mysterious Bluetooth codes that appeared during the pandemic were investigated by Chris and we end with mindset preparation for the coming Great Reset.Get access to the latest on privacy technologies, financial market and cryptocurrency analysis with our membershiphttps://cryptonomousconsulting.com/membership-join/The Conscious Renegade is an independent media organization striving to educate, engage, and empower you to be the change you want to see in the world. Whether you want to quit your nine-to-five, find financial freedom, or make a positive difference in society. The Conscious RenegadeWebsite: https://theconsciousrenegade.com/Telegram: https://t.me/consciousrenegadeThe American Debt SlaveTelegram: https://t.me/TheAmericanDebtSlaveOdysee: https://odysee.com/@TheAmericandebtSlave:5Qortal – A Truly Decentralized Webhttps://qortal.org/

Holes and Vettes Bar Harbor. Maine. 2022. A baseball field. Corvettes line up in rows, engines still For once and owners preening From their folding chairs, legs poking Into the same grass that supports Life Flight helicopters in emergencies And soccer cleats. This earth withstands so much. It's a yearly gathering that's paused two years Thanks to global disease, but now the drivers Are all maskless and showing off Their cars to locals who wander Between the lines, marveling. “I will never be rich enough To own one,” says a man in a black t-shirt to a guy with a firebird red model. “I thought that too,” The guy says. “Work hard. You'll get there.” The first man moves to run A finger across the car's hood. The owner flinches like it's some kind of assault. “Try hard,” he repeats. “You'll get there." We all try hard To get there, Inventing monologues Of worth based on materialism, Who owns what, how shiny Our skins are, our hair, our cars, Houses. We pretend like any of this Fills up the holes we dig inside ourselves, Inside the ozone, inside the earth. Darkening faces, Double visions. Horror. The Vettes represent adventure And freedom. Not being beholden Despite the car loans required, The interest rates. The American Debt. “There are eight Generations of car here,” Says an organizer With a yellow sunhat Perched on her head. “This is the car of dreams.” American Dreams. And that's the thing. Have you ever hit your head On a poem or a wall Or something else hard And realized that your dreams Aren't actually yours? Have you ever felt like you're falling Though you are standing still on a field Surrounded by excess and shiny paint Jobs and pride, merciless, assaulting, And begged for stable ground Before realizing you're just making holes, too. Maybe the holes are in a ball field, Or in the Earth or the ozone Or maybe—just maybe—in your own damn heart. Hey, thanks for listening to Carrie Does Poems. These podcasts and more writing tips are at Carrie's website, carriejonesbooks.blog. There's also a donation button there. Even a dollar inspires a happy dance in Carrie, so thank you for your support. The music you hear is made available through the creative commons and it's a bit of a shortened track from the fantastic Eric Van der Westen and the track is called “A Feather” and off the album The Crown Lobster Trilogy. While Carrie only posts poems weekly here, she has them (in written form) almost every other weekday over on Medium. You should check it out! https://freemusicarchive.org/music/eric-van-der-westen/the-crown-lobster-trilogy-selection --- Send in a voice message: https://anchor.fm/carriejonesbooks/message Support this podcast: https://anchor.fm/carriejonesbooks/support

As the author of A Brief History of Doom (2019) and The Next Economic Disaster (2014), Richard Vague established himself as a clear and independent voice in the ongoing conversation about the role of private sector debt in the global economy. His illustrated business history of the United States offers a more general audience a clear-eyed view of 250 years of wealth creation and the people and personalities who drove that growth — and hold it today. And now, Richard's new book, The Case for a Debt Jubilee, offers a compelling case and policy recommendations for new forms of consumer debt relief. Following a career that has spanned fields as varied as banking and energy, credit, and the arts, Richard has served since 2020 as Secretary of Banking and Securities for the Commonwealth of Pennsylvania. In this episode, Richard explains the current state of American debt in the private sector, how that affects the economy, what the government response to COVID adds to this calculation, and how investors should be looking at their relationship to debt while building their portfolios.   Episode Links: https://www.richardvague.com/ --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Michael: Hey, everyone, welcome to another episode of the Remote Real Estate Investor. I'm Michael Albaum and today I'm joined by Richard Vague who serves as the Pennsylvania Secretary of Banking and Securities and he's going to be talking to us today about debt and the American household. So let's get into it.   Hey, Richard, thank you so much for coming on and chatting with me today. I really appreciate you taking the time.   Richard: Well, it's a real privilege. You guys have a great show and I'm honored to be on it.   Michael: Thank you, appreciate that. So we are here today to talk about something that I think is on every real estate investors mind. And well, most real estate investors might…, and that's debt and you've got a really unique position to be able to talk about debt. So for anyone who doesn't know who you are, where you're come from, and what your background is, you can give us a quick intro, a quick insider's peek into what those things are.   Richard: Well, I was in the banking industry forever and ever, which included some amount of mortgage lending a lot of consumer lending. I spent about the last 10 years in venture capital, which obviously includes more equity than debt, but includes both but kind of as an outgrowth of the Great Recession of a decade plus ago, I've written a series of books, including: The next economic disaster and a brief history of doom and more recently, the case for a debt jubilee that really get deeply into debt and both the positive and negative aspects of debt. So it's a topic that remains heavy on my mind.   Michael: It's your… sounds like and for anyone interested, where could they find those, that book?   Richard: Well, if you go to my own website, which is https://www.richardvague.com/ , and Vegas, spelled V as in Victor AG, UE, you can see all those books.   Michael: Okay, fantastic. So let's dive right in and I'm curious, Richard, in your opinion, I mean, how and why is debt such an issue in in the states in this country?   Richard: Well, you know, over the course of pretty much my own lifetime, certainly in the last couple of generations, you know, let's call it World War Two forward, household debt has tripled, you know, in 1950-ish. Household debt, if expressed as a percent of GDP was about 50% and today, it's about 160%. So there's a lot of it around and a lot of households, you know, have accumulated debt of several types so that they really struggling we see households that have a mortgage, perhaps even a second mortgage, they have student debt of their kids, they may even have some residual student debt of their own, they may have had a surprise medical bill that they had to finance through debt. So you, you see folks with this kind of unhappy portfolio of debt that's really weighing them down and affecting their, their lives quite significantly.   Michael: Yeah, okay and as investors we joke is the wrong word, because it's no joking matter, but talk about good debt versus bad debt. And would you agree that there is such a, such a discrepancy between the two is such a difference between the two?   Richard: Absolutely, in fact, I'm writing a book right now called: The Paradox of debt, which gets to that very issue, because debt is necessary economies absolutely couldn't function at all, without debt. I mean, that includes, you know, your local retail store, the inventory they have in their stores, you know, done on a debt line of credit, the grocery store that you go to, their shelves are stocked by debt. Folks buying their homes, which I know is a near and dear subject for you guys couldn't really achieve that without debt. So there's any number of things that are necessary and positive about debt. But then there's the other side, normally, when it debt accumulates too rapidly or gets too high, and as all sorts of effects that are in the other direction.   Michael: Okay and how do you make that distinguishment? I mean, if someone listening is thinking about scaling the real estate portfolio and plans to go get a ton of debt really quickly, I mean, they could be hearing what you're saying and think, oh, you know, maybe I need to pump the brakes. So how do you distinguish between the good debt and bad debt or maybe what's too rapid versus too slow?   Richard: Well, I'd make a distinction between how I measure it for a country, which I spend a lot of time doing and how I would measure it for an individual. I think the, the real issues are an individual relate to how much leverage you have on a particular property. You know, if you're leveraging properties at 100%, or 95%, as many folks were doing here a decade or so ago, you know, you need to have really thought it through carefully. And if you, if you have several properties like that, I mean, I, my own expectation is that here over the next couple of years, we're going to have a real flattening of evaluations of real estate, you know, almost inevitably, given the, the boom, we've seen here recently, you know, mortgage rates are going back up. So you know, anybody who's financed real estate, kind of at the hilt, if you will, need to thought that through very, very carefully, because that could, that could unwind on it pretty quickly. And then there's carrying the interest payment on it, you know, if you have a situation where your lenders being so kind as to charge interest and in the form of a bullet, which means you don't have to serve as it currently, you can get a little too optimistic. So you have to make sure that your income is sufficient to carry the interest on an ongoing basis and give it still give you plenty of room to live your life otherwise. Folks that really want to get out there over their skis, you know, that's, they can certainly do that. They just need to be aware that they're doing that they need to have thought through the downside or the risk associated with that.   Michael: Okay and talk to us a little bit about what some of those downsides and risks are, because there are many people that subscribe to the thought of well, if it cash flows, and it's a safe investment from a cash flow perspective, I can always afford to service that debt and so the value is going up and down, doesn't really affect the ownership of on a day to day basis. So curious to get your thoughts.   Richard: Well, I mean, that's a wonderful situation, you know, they should be happy that they're in that situation to begin with, you have a property where the rental income covers the expense of your debt and expense of the upkeep of that real estate, more power to you. But there's a lot of folks, there's a lot of folks that go beyond that. Beyond that level, you know, if you had a nice portfolio of income yielding net income yielding properties, you've done well.   Michael: Great, great. And so where is it that people start to kind of get beyond and start to get themselves into trouble?   Richard: Well, I think now is one of those periods, you know, that, you know, maybe not to the extent that hopes 2006 was, but you know, all of a sudden, everything I read is about how real estate values have gone up and are going to continue to go up and that's when they stretch, that's when they start to say, well, if they're going to be going up at this rate, I can afford to buy a property where the rental income doesn't necessarily cover it, or is it right at the razor's edge of covering it in so let me just leverage up and get a lot more property. Because I'm going to be covered by the appreciate subsequent appreciation of the property and you know, that that's just kind of the cycle. You know, I'm, I'm 66 years old, so this will be, you know, which cycle this will be this, like, really seen it. And, you know, you see, you see folks who have, you know, have their pencil out and have a green eyeshade out nevertheless, they get a little bit overly enthusiastic and don't really calculate what might happen.   Michael: Yeah and that makes a ton of sense. So it sounds like when folks start flirting with speculation, much more so than kind of sound investing principles from a cash flow perspective, that's when you can get really burned.       Richard: Yeah, I mean, if you're careful about what you do, can do. Real estate is a great business, real estate's the largest business in the United States, the oldest business in the United States. It's always going to be there. You know, it's, it's what makes the world go round?   Michael: Yes, I was hoping you might say that.   Richard: Well, I mean, let's put it in perspective. There's about $35 trillion in private sector debt in the United States, right this moment, about half that's real estate debt, that's 16 trillion.   Michael: Wow!   Richard: You know, it all energy lending combined is about $1 trillion. You know, all healthcare debt combined is maybe a trillion and a half. Real estate is kind of the center of the universe and has been since this country was founded.   Michael: Oh, my God, I had no idea was so significant. And when you say private sector, I mean, does that include private businesses and corporations or is that like everyday people like you and me get mortgages on homes to live in?   Richard: Simplistically, we just define that as households and businesses.   Michael: Okay and you said 16 trillion, is that right?   Richard: Yep.   Michael: That's such a large number.   Richard: Well, let's talk about the Great Recession: In 2002, household mortgage debt, which is now 11 trillion was 5 trillion. By the time you got to 2007, it was 10 trillion. So in less than four years, mortgage debt doubled. It had taken, you know, 50 years to get from zero to five, it took four and a half, you know, three and a half, four and a half years, to double from five to 10 trillion. And since that time, you know, it's only grown to about 11 trillion, you know, it actually declined some, and has come back up. So, you know, it's very, I in retrospect, to some it was very, obviously, a runaway debt period. We're certainly not in that today and I don't expect we will be, but it's something we keep our home.   Michael: Okay and so what should your kind of average everyday investor do with that kind of information? Is that something that says, hey, you know, let's kind of keep tabs on it and see if we're headed towards a recession? Do they need to be looking at such a macro level? Are they able to focus more so on kind of the micro with their local sphere of influence?   Richard: Well, they should spend most of their time focused on the micro. The macro is a very easy thing to keep tabs on, it'll take them five minutes a month, if they want to do that the information is contained by it's on the Federal Reserve website.   Michael: Okay.   Richard: They come out with fresh data quarterly, the there's some folks that actually augment that monthly, it takes, and we keep charts that, you know, go back, you know, decades and the most important thing is just aggregate real estate debt, divided by GDP, and seeing how that changes over time. For this past decade, that number has actually been very flat, which should give a real estate investor an enormous amount of confidence. It's starting to trickle up a little bit now. Which should, would you say to us that we should continue to be confident, you know, forgetting the dimension of REITs, for short, it's just talking about the level of activity. And but it's not hard to tell when there's a boom or bust. It's not going to happen in a week or a month, it takes a year or two, or three and you can see it coming a mile away with the through that simple exercise.   Michael: And so if someone goes and is tracking this and spending a couple minutes a month, as the percentage as real estate debt as a percentage of GDP goes up, that's where we started need to get concerned. Is that what you're saying?   Richard: Yeah, it not just a little bit, it needs to go up a bunch, it went up, you know, like 20, or 30%. In that period between 2000 to 2007. It wasn't like you had to get your microscope.   Michael: It was obvious.   Richard: It was, it was… it was the hockey stick. So I you know, I can't, I can't see, you know, I can see rates going up putting a an effectively a curve on real estate activity right now. I cannot see runaway lending, which is an even bigger problem that we've seen in the 80s. And we saw in the 2000s. I can't see that being an issue for a while and I think that's a helpful fact.   Michael: Okay and I'm so glad you mentioned that, Richard, because you said it so nicely into the question I wanted to ask, which is, I think so many of us, especially in the last two to three to four years who have gotten a mortgage, it feels like we've gotten a full cavity search, you know, from from lenders. And so, aren't they there and by law have to protect the consumer to a degree. I mean, they're looking at our debt to income, they're making sure we can afford these properties and so isn't that a really great backstop to preventing that that runaway lending?   Richard: Of all the Dodd Frank did and it was a gigantic bill, that's the single most useful thing that was contained in it, the very simple concept that the lender has to be able to demonstrate that the borrower has ability to repay ATR and yes, that has been an eye eyes view it is probably the most valuable maybe the one of the very few valuable things about Dodd Frank, but yes, it does.   That doesn't mean you can't get into other areas beyond real estate and get into trouble but real estate at the moment and by the way, it also would suggest to me that you know, clever people somewhere going to figure a way out around that. So, so that you know, they're able to kind of sidestep they haven't yet but it's like in the credit card business right now. This is not real estate, but this is no people buying goods like computers and clothes and things like that. Well, you know, they've come up with things that are different from lending, they talked about, you know, that, that are kind of built into the purchase. So you can't even see that you're getting a loan, you know, it's kind of a deferred payment plan. And so that, you know, sure enough, somebody is figuring out what, kind of an end run here, and I'm sure that'll happen in real estate.   Michael: Yeah, I could definitely see that happening, too. So talk to us a little bit about COVID. And what you've seen, the kind of average American household debt do as a result of COVID. Because I think everyone had their predictions for the real estate market. Oh, no one's gonna pay rent, it's gonna come crashing down. Everyone who owns this realty is in trouble and really, we saw the opposite effect. So I think something we've heard less about is what you're kind of household debt look like as a result of COVID. So wondering if you have any insights there?   Richard: Yeah, we track that very carefully and it has gone up a little bit, but not nearly as much as we would have guessed. You know, I think, I think in retrospect, what Congress did, and what the Fed did, was extraordinary, it was far beyond what I would have expected, you know, we've gotten, in essence, you know, 3 trillion of support, including $1,200 checks and $1,400 checks and we've had markets, you know, from municipal markets to certain portions of the real estate market, being held up by Fed liquidity. So, I've… was stunned and impressed by what Congress in the Fed did, you know, for all their dysfunctionality in other areas, they came through there. So I think that what they've done for that market is kept that market is as healthy as you could have ever hoped. Now, a couple other things, one of them is a lot of that mortgage forbearance and real forbearance is just now ending.   Michael: Right.   Richard: So I don't think, you know, everybody's optimistic, you know, I've, I've talked to the fed regularly, and, and others, everybody's got all their fingers and toes crossed, and thinks that while there's going to be issues with that, they aren't gonna be nearly as is widespread, as we would have guessed a couple years ago, but we don't know. We don't know how that's gonna work kind of work its way out.   Michael: Why, why are they so optimistic to set a curiosity? Because given those set of facts, if you tell told me, and which I have heard, but people didn't have, you know, didn't make their mortgage payments for X amount of time, and now they're getting tacked on, either to the end of the loan, or they're kind of accruing, there's different ways of doing it. That just sounds like a situation right for a bunch of people losing their homes.   Richard: You know, I've been trying to figure that out for a year and a half, now. And, you know, I think most most banks, you know, this is where I will speak a little bit about my current job. But, you know, we spent a lot of time talking to folks about that. And the, the level of commitment by the lenders to successful outcomes is very high. So I can't speak for a given situation, I can't predict the future. But I knew I do know that generally, lenders are as motivated to avoid having to go through the very expensive and difficult process of foreclosure or eviction and things like that is anyone go. I hate to speak universally. But I certainly think that's the bias.   Michael: Okay. Well, that's I'm so glad to hear it because I think a lot of folks would, would argue or have heard the opposite of the big bad bank wants to take my house back, because then they could go sell it and make a profit. But what you're saying is, again, anecdotally, that that's not been the case, from your experience.   Richard: It's very expensive to a bank to go through that process. It's 1000s of dollars, for a bank to go through that process…   Michael: Say more, say more on that, because I think that's a really interesting insight that people probably don't know much about.   Richard: I mean, I don't know what more to say. Other than that, I've never met a banker, and I'm sure they're out there. I've never met a banker who preferred eviction and foreclosure, they would much rather have a gentler outcome. I'm not those bankers. I don't I'm not in charge of those policies. So I can't speak to it. But as a general matter, in my career before I was in this position, I've never met folks that were inclined that direction. I'm sure there's plenty of them out there, I'm sure there's plenty of problems that are going to occur, but the general bias that I'm familiar with, is it folks, you know, they they view the cost of foreclosing on home, as being 1000s upon 1000s of dollars. And by the way, not just as a On 1000s of dollars, you know, hiring a huge staff to handle it. In the process of going through the logistics, the staffing concerns, are very, very high. So I'm not gonna say there's not going to be trouble, it'd be, it'd be crazy of me to say that, but but I think that the tone that I, that I hear out there is different than that.   Michael: Okay, that's great to hear. That's great.   Richard: I was gonna make one other point. And that is the inventory levels of unsold houses is at an incredibly low level right now. You know, before, if we go back to 2002, 20 years ago, my recollection is the volume of unsold houses, I'm going to say was 1,000,008…   Michael: Okay, countrywide?   Richard: Countrywide. You know, the mortgage data that's released by the industry that, that we pick up. If you guys aren't looking at that data, you need to, this is like the mortgage banking Association now. The inventory of unsold houses by the 0708. At a point when it was clear, we had built way, way, way too many houses, it was 2.7 million.   Michael: Okay.   Richard: So it went from 1.8 to 2.7. Today, it's 1.3 million, it is the lowest it's ever been on a ratio basis and that's really the issue. So you already had you know, everybody was still licking their wounds from the Great Recession. Inventory were being kept low by the caution of the industry and then COVID hit and for like, half a year or a year or more, you couldn't build houses because of the lockdown, right? You could you couldn't send an appraiser to that, right, I remember that controversy in those early months. And so you know, what was already a problem was compounded by. So I personally think the biggest driver of the sustained high valuation of homes right now, is the fact that we have such a low inventory going in and that has to be a good fact for your listener.   Michael: That's a great fact. And so, and that probably compounded and is only exacerbated by low interest rates.   Richard: Without a question.   Michael: Okay and so how do you, and I'm gonna ask you to break out your crystal ball here a little bit. But so how do you foresee things changing? Because inventory isn't going to change in the foreseeable future, I mean, you just physically can't build enough homes to meet demand. But so rising interest rates is the seemingly silver bullet, if you will, to kind of curtail this, this crazy demand. How do you see those two things? I mean, how do you square those two things?   Richard: Well, they're going in exactly the opposite direction. So you might just pretty easily come to a conclusion that it's going to be more of an equilibrium, in terms of valuations, and so forth. I happen to believe I spent a lot of time thinking about inflation. I think this inflation is not going to last more than let's call it two years. You know, unless we have another wave of COVID, that's beyond what we expect. So, you know, let's say we have somewhat higher mortgage rates for a couple of years, then I would expect mortgage rates to abate again, because I think kind of the fundamental direction of, of economic activity is to a softer, slower level. So I think interest rates are going to go down. So I think I wouldn't be surprised to see things achieve something of a rough equilibrium over the next couple of years, and then get back on a positive path after that.   Michael: Okay, all right. Well, I'm keeping my eyes peeled. I know that.   Richard, and I want to shift gears here and go in a very different direction with you and I'm curious to get your thoughts or recommendations for some of our younger listeners out there who are kind of just getting started maybe out in their career and we talked even on the episode today about good debt versus bad debt and consumer debt and credit card debt is often so linked to the bad debt. But it seems like that's a necessity in order to go get good debt. And so what should people be doing to set themselves up for success in this country, from a debt perspective?   Richard: Well, I think you make a wonderful point. You know, you I couldn't remember the time my dad told me that, you know, I told, I was probably 14 years old or something like that. And I told him, you know, I'm gonna have the best credit record the world because I'm never gonna borrow for anything… He laughed at me and said, well, you won't have any credit record whatsoever, if that's the case, you got to borrow some. So I think viewing it kind of the way you outline is a right way to view it, which is a limited use of credit that establishes that you're responsible repair of debt, you know, maybe an auto loan and one or two credit cards is, is more than sufficient.   Michael: Okay.   Richard: For that, and being very careful and responsible about those things, living within your means will set you up very, very nicely, because the things that work against you and a credit score is having too many what are called trades, you know, every card or car, whatever you borrow against is called a trade. So, if you had 10 credit cards, and two automobile loans, and a home loan and a vacation home loan, you would, that would be what you know, 14 trades. And you know, having 14 trades works against you somebody that has four or five or six has, you know, gets a benefit and their credit score and somebody has too many as as a detriment, the other thing that works against you is borrowing too much of your, the line that you've been provided. So if you have a line of credit of $4,000, and you're borrowing one or 2000 against it, that works in your favor, and if you're borrowing 3900 against it, that works against you. Obviously instances of delinquency and charge off work against you quite heavily. So you know, having a few sources of credit and, and managing those responsibility will put you in good shape.   Michael: Okay and any tips, tricks, tidbits, pieces of advice for folks to help prepare their credit, if they are thinking about wanting to qualify for a mortgage for an investment property at some point down the road?   Richard: Yeah, I think most banks will work with you. I mean, it takes time to repair your credit, right. So you know, getting curl, I mean, it's the, it's the things you would think intuitively, getting current is the biggest single thing of all, you know, laying everything down, may or may not help you that much.   But if everything you know, if any part of your data is delinquent, you're kind of out of luck. So thing having things being current, if you've have a burden of too much debt, frankly, most banks will give you some kind of relief. If you work with their collection department, they'll give you relief in the form of a more favorable interest rate or the elimination of interest rate or, in some cases even might reduce your principal or what have you. There are a lot of sleazy credit repair entities out there, they'll advertise on TV, and they'll charge you a fee to repair your credit. I think by and large, those are the ones to be avoided there. There's a few that are not for profit, that will help you that genuinely are dedicated to the right thing. You know, there's the one that comes to mind is an outfit called in FCC, not for profit. There's not a penny drops to their bottom line. It's all, all their work is to help consumers. So I either work with the bank or with a not for profit, like an FCC, and they'll get you, they'll get you on a plan that that makes sense.   Michael: Okay and if someone is finding themselves in trouble or trouble around the corner, it sounds like getting in touch with their lender proactively ahead of time is going to be a good move.     Richard: Absolutely.   Michael: Okay.   Richard: But it's not fun.   Michael: I was gonna say it does sound like a fun conversation.   Richard: It's not fun and in and altering your lifestyle to spend less is complete not fun. But you kind of have to face up to it if you're in that situation.   Michael: Yeah, yeah. Makes total sense. Richard, this has been super informative, really a lot of good stuff here. Any final thoughts for folks before I let you out of here?   Richard: Only that you guys are terrific and your show is, is one that folks are our you know folks benefit from and I'm, I'm impressed and glad that you're doing all this good work.   Michael: Thank you so much, for sure. Really appreciate it. If folks have additional questions for you want to get in touch with you, learn more about you. Where's the best place for them to do that?   Richard: Same place https://www.richardvague.com/ - V A G U E.   Michael: Easy enough. Richard, thank you again and look forward to staying in touch. We'll talk to you soon.   Richard: Thank you.   Michael: Alright everyone, that was our episode, a big thank you to Richard for coming on super informative, I know I learned a ton about debt and the history of debt and just kind of the whole outlook of the real estate market going forward. As always, if you enjoyed the episode, please feel free to leave us a rating or review wherever it is you get your episodes, and we look forward to seeing the next one. Happy investing!

The Dialectic Bulletin reviews the latest news that you need to know.

A look a Federal Reserve blog on that crisis. Also, the US yield curve starts to flatten…recession ahead?

The Guerrilla flies solo today, he breaks down the Great Reset, Victoria "F*ck The EU" Nuland and America The Debt Junkie.

The Guerrilla flies solo today, he breaks down the Great Reset, Victoria "F*ck The EU" Nuland and America The Debt Junkie.

In this episode, we follow on from our last podcast and expand on inflation as there has been some big news this week for the UK. We give a zoomed-out approach and the real reasons we are in crypto and it's not because we want to get rich quick… it's just the logical solution to the current broken financial system. We Discuss:02.20 – Inflation Rates Rocketing05.10 – American Debt   20:32 - Sponsor21.45 – Finance 2.0  23.10 – Coming To The Masses Discord Community: https://launchpass.com/crypto-standard/member Fundamental Course: https://crypto-standard.mykajabi.com/ Social LinksTwitter - https://twitter.com/NoCrypticCryptoInstagram - https://www.instagram.com/crypto.standard/ Open your own Zumo account at – http://short.zumo.money/zumo-app-download If you have any questions at all, please contact us at hello@crypto-standard.co.uk or reach out to us on social media as we would love to help. Please remember we are not financial advisors and nothing in the podcast is advice, we are just trying to educate you on the world of crypto. If you like the podcast, we would really appreciate it if you could leave us a review. Thank you and see you for the next episode.

Let's talk for a minute about American financial crisis and how we as a country have been kicking the same debt snowball up hill for a few decades. Most importantly how that effects us.Support the showLooking for a great bike helmet check out Unit . I do not get paid in any way from them. I was in search of a safe cool helmet and found them to hit all the marks. Lots of techie gadgets and safety features. They did give me a discount code for you guys MARGIE54640. Use this code at checkout. https://unit1gear.com/

Forget the Great American "Rescue" Plan.... this is the Great American DEBT Plan. It's Government Gone Wild! Biden is signing off on the largest stimulus plan in modern history and it's going to cost us ALL. Plus, Disney Plus is cancelling Peter Pan, Dumbo, and more classic films... yet, society is fine with rap music and violent Hollywood films. Go figure.  Support the show: https://www.facebook.com/groups/486386652343057/ See omnystudio.com/listener for privacy information.

During the Financial Crisis, consumers deleveraged by walking away from their debts. And now, with 20 million people still claiming unemployment insurance? The opposite is happening. Support the show (https://wolfstreet.com/how-to-donate-to-wolf-street/)

In this episode I go over PayPal plans to introduce cryptocurrency to their platform. Scientists discover new organ in the throat. The average American has 90,000 in debt. --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app Support this podcast: https://anchor.fm/apw-talk/support

The British government has abandoned hopes of reaching a US-UK trade deal ahead of this autumn’s American presidential election, and Donald Trump told reporters the pandemic in the US will “get worse before it gets better”. Plus, the FT’s Latin America editor, Michael Stott, will explain why the region might be headed for another debt crisis. See acast.com/privacy for privacy and opt-out information.

Podcast 156 will discuss the United States’ almost $25 Trillion National Debt and who the United States federal government owes for the debt.David L. Marks - Pontificator of Common Sense and Coffee Connoisseur​.America is about to cross a dangerous threshold. Our national debt is almost $25 trillion there’s no one of any relief inside because of theContinue ReadingThe post $25 Trillion National Debt | Who Does America Actually Owe For The Debt? appeared first on David L. Marks.

In this episode we talk about how, from a young age, you are encouraged and coerced into the American debt trap. Our system is broken, but there are solutions, like not wasting your time on college until you know what you want to do with your life.

Have a question? We cover a lot of news and how it impacts YOU and it’s only natural to have questions. You ask, we respond. No question is too simple, off limits, or off-topic. Ask your question at http://www.dynamicmoney.com/askCurious about how the news impacts your dreams or want to know what Dynamic Money would say about your financial situation? Let’s talk about your financial plan and create momentum to build the future you want.Contact the Dynamic Money Team at http://www.dynamicmoney.com/contactStay Connected with Dynamic Money and Chris Burns Throughout the Week:Daily Email Updates http:///www.dynamicmoney.com/updateFacebook https://www.facebook.com/DynamicMoneyPlanning/Instagram https://www.instagram.com/dynamic_money/Chris on Twitter https://twitter.com/cwburnsIf you’re listening, your future is important to you and you have BIG DREAMS. We appreciate you joining us and hope you hear something that gives you practical steps for positive change.

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Home Depot is hiring 80k for a projected busy spring. Side hustle anyone? Household debt, including credit card debt, is skyrocketing and 32% of workers run out of cash before payday, even some making $100k/year.  Why? Listeners respond. 2/12: Hour 3 Photo by Guilherme Cunha (https://unsplash.com/@guiccunha?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText) on Unsplash (https://unsplash.com/s/photos/men-at-work?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText)

As the President and Congress push through another massive, debt-laden budget, deficits and debt continue to pile up. Chris Edwards discusses what might trigger an American debt crisis. See acast.com/privacy for privacy and opt-out information.

The mad hatter is at it again. This time he's attacking Ilhan Omar, suggesting it might be best if she moved back to Somalia to fix her native country before attacking America for it's perceived shortcomings. The antics are both hysterical and sad. And later, in the show...home ownership is bad and so is college. LOL. Jason This episode is brought to you by: Blinds.com - Whether you're looking for energy efficiency, you just moved, or want to refresh the look of your home, Blinds.com makes the whole experience so FAST and EASY!  Plus, every order gets FREE samples, FREE shipping, and a FREE online design consultation.  For a limited time, my listeners save $20 at Blinds.com when you use promo code STAPLETON.  Rules and restrictions apply.   Express VPN -  If you believe that you're not being snooped on, or that nobody cares about your online data, well then I'm sorry to disappoint you, but you're wrong.  Because you listen to my show, you;re clearly smart enough to understand that your privacy is under attack.  Hackers, governments, ad companies, and ISPs are gobbling up your data... like ALL of it.  That's why I recommend getting the software that I trust MY online activity: Express VPN.  Their apps use powerful encryption to secure your data.  Protect your online activity TODAY  and find out how you can get 3 months free at EXPRESSVPN.com/JASON. Support the show.

KTSA host Trey Ware asks listeners what they think about Senator Bernie Sanders and Congresswoman Alexandria Ocasio-Cortez introducing a joint bill on Thursday to reduce Americans’ debt. AOC also plans to suggest postal banking as a public option for consumer lending—meaning the U.S. Postal Service could get into the business of operating checking and savings accounts. Turning post offices into banks.

  A fortunate discovery by a Mexican fisherman uncovers the largest oil reserve in Latin American history.  Spikes in oil prices shortly thereafter coupled with easy access to loans triggers a spike in borrowing throughout the region.  The euphoria would be short-lived.  Just as it appeared Latin America's day in the sun had finally arrived, interest rates spike, leading to massive problems and hardship.  Health standards plummet, the economy contracts, and the illegal drug industry booms as the regional economy implodes. Teetering on the brink of disaster, Latin American governments and American banks are faced with difficult decisions of how to rescue the failing region.  

Stat: 7 in 10. That’s how many Americans say that debt is a necessity, even though they prefer not to have it. Story: Ten years after the global financial crisis, we explore Americans’ relationship with debt, and interview Dave Ramsey, the host of his own syndicated radio show, who talks to some 13 million listeners each week about how they can overcome financial setbacks and build wealth. Ramsey shares his thoughts about why so many Americans are in debt today, why they’re not stuck, and the key to breaking the cycle.

Ep. 410 | Originally Aired: September 15, 2018 One of the most persistent ideas in the politics of the West, whether we’re talking about Europe or the United States, is that government debt is best attacked through reducing government spending. Mark Blyth, warns though, that “austerity,” as such plans are known, is a historically dangerous idea. Blyth received his PhD in political science from Columbia University in 1999 and taught at the Johns Hopkins University from 1997 until 2009. Since then, he has been Professor of International Political Economy in the Department of Political Science at Brown University and a Faculty Fellow at Brown’s Watson Institute for International Studies. Learn more. 

Did you know that the average American household debt is a staggering $140,000.00? Now, that does include a mortgage, but even with that in mind, this is still quite a significant figure. Whether you are above or below that number, you wouldn't be listening to this podcast unless you had the same goal in mind: to get yourself out of debt and get into prosperity.   Many of us get lulled into complacency and get used to relying on credit cards, especially if we aren't getting large enough raises (or getting raises at all). We try to bridge the gap by utilizing credit cards to continue spending the same way that we have been with less resources. This isn't a good move.   You have to think of ways to change your own life. You can't simply rely on your nine-to-five to do it for you. You've got to think and do differently from what you've been doing before. That's the only thing that's going to work, and before you know it, you're going to win.   If you know someone who may benefit from this show, please feel free to share it by sending them to http://followmeoutofdebt.com. If you're on Facebook, like my page by going to http://facebook.com/followmeoutofdebt. Send a message while you're there; I'd love to hear from you.

This week James Altucher sits in for Porter and joins me and our guests Michael Pento and Dan Marino

Clearly, the world's sovereign governments are either bursting with debt now, or they are frantically absorbing the debt liabilities of their private sectors, or even other countries. Understandably, mindful people are today speculating what could happen if major European countries, and yes...the US eventually simply can not pay their debt obligations and the World goes BANKRUPT! The most common answer you hear today, "Buy gold & silver because monetary denominations will be come meaningless in the face of hyperinflation." Straight Talk Wealth Radio Host, Bruce Weide, doesn't disagree with the distinct possibility of the premise, and in this show he goes on a search to find out if there is any reason at all to not buy into the proposed solution. IS Gold the ultimate answer? What are the different possible scenarios that could play out when the world goes broke?For this show, Bruce obtained an exclusive interview with economist and N.Y. Times best-selling author of "The Great Crash Ahead". Harry S. Dent, and together they explore the possibility of global debt failure and the range of possible outcomes.

American Debt. American Goverment. The political devide. Who is responsible ? War War War War How much? What is the goverments responsible? What is your responsiblity for goverment?

American Debt. What Taxes you pay? Misconceptions and Realities About Who Pays Taxes American Goverment. @Fast and Furious The political devide. Supreme Court Rule Who is responsible ? War War War War How much? What is the goverments responsible? What is your responsiblity for goverment gun laws?  

American Debt. American Goverment. The political devide. Who is responsible ? War War War War How much? What is the goverments responsible? What is your responsiblity for goverment?

American Debt. American Goverment. The political devide. Who is responsible ? War War War War How much? What is the goverments responsible? What is your responsiblity for goverment?

American Debt. American Goverment. The political devide. Who is responsible ? War War War War How much? What is the goverments responsible? What is your responsiblity for goverment?

American Debt. American Goverment. The political devide. Who is responsible ? War War War War How much? What is the goverments responsible? What is your responsiblity for goverment?

American Debt. American Goverment. The political devide. Who is responsible ? War War War War How much? What is the goverments responsible? What is your responsiblity for goverment?

Baby Boomers barely have a decade left to recover from the current economic and financial crisis. So when WILL things turn around? This episode features excerpted interviews with Harry S. Dent regarding his book The Great Crash Ahead, and covers the hurdles to overcome, (European Debt, China Bubble, American Debt), and what the government could most effectively do right now to get America back on a strong economic footing.

When murder cuts short the lives of fellow citizens going about their civic duties and a violent attempt of assassination of a sitting member of Congress, Rep. Giffords, happens we must seek words that heal. American citizens in pain deserve the best that the tea party movement has to offer. Doc Holliday speaks about the tragedy after first touching base … Read more about this episode...

Coincidence Theory and Conspiracy Theory - Assassinations, New Tyrants - Woody Allen movie "Bananas". Royal Institute for International Affairs - Council on Foreign Relations - Round Table Groups - Morgan Bank - Institutions, Bank of Canada. John Dee (007) - English as International Business Language - Free Trade. Left-Wing, Right-Wing - Conflict, Opposition - Chatham House, OSS, MI6, Secret Services, Crown - Diplomatic Corps, England. Chemtrails, Spraying, Drugging - Military, Domestic Aircraft. Depersonalization, Electronics (Trick of the Elect). Freemasonry above 33rd Degree, Rituals - Theosophy, Madame Blavatsky, Blending Science and Spirit - Tricks, Hallucinations. U.S.-Canada Economy - Selling of American Debt, Japan, China - Deindustrialization - NAFTA, FTAA. (Books: Tragedy and Hope" by Prof. Carroll Quigley. "Between Two Ages" by Zbigniew Brzezinski.) *Dialogue Copyrighted Alan Watt - Nov. 9, 2007 (Exempting Music, Literary Quotes, and Callers' Comments)