I've been watching the economic/financial experts on You Tube for nearly 20-years, and this is the single best speaker I've ever heard, anywhere. His was the absolutely most complete, reality-based description of what's happening in the world right now as any I've ever seen. The best thing about your guest is that he's not selling anything, he's simply presenting an intelligent, global viewpoint on global issues that I found both refreshing and factual. Kudos. P.S. The term "Shiba Inu" is a Japanese word meaning, "Dog of Inu." Shiba is a province in Japan, and Inu means dog.
This is your best interview yet, and I 've looked at all of them with care. Thank you. Courageous. Thoughtfull and not dogmatic, if the US public can get it (the Daniela interview really scarred me with its quality content : good anecdotal infos sure, but very biased and not so thougtful, bnor, I'm sad to say, educated). Thank you. Thank you. Thank you.
It is out there ,most people would like to put there head in the sand and hope they things will get better ,they should figure out why things are the way things re and help to correct it ,mostly by voting for the correct person.
@@normandolinic2044 Who? Last time our choice was between a racist wannabe dictator and an 80 year old being controlled by an extremist left wing contingent hell bent on MMT. I dont need Abaraham Lincolin , but can I get just a middle of the road halfway decent semi moderate candidate? Id kill for a John Kerry or a John McCain at this point
It never will be you have to seek out information like this every single family member/friend I've spoken to over the last 3 years has asked where I figure out the information I know how to regurgitate they're to busy watching sports or Netflix to look up informative shit
I respect the guy for the obvious abilities to think things through on his own and to find pearls among Marx's bag of lost marbles, but I think he misses the utility of blockchain tech. It allows us to automate white collar jobs (much like robots have been doing to blue collar jobs for decades). Cutting out highly-paid paper pushers actually helps all those who really do produce wealth by reducing the drag on capital. DeFi loans cost less for borrowers and bring in more money for the lenders by cutting out pointless bureaucracy and banking overhead. Moving capital to where it's most in demand is crucial to an efficient complex economy.
@@Confusione_Infinito_Absurdum As i understood, he did not criticize the technology, but the sheer number of coins, google says there are 12000 cryptocurrencies (a range of 6000 - 12000). Some of them are certainly useless and all of them have only value, if people agree on their value, while food, water shelter, basic needs in general have value in themselves. One could as well be critical of some spacs, explorer companies or no-business-model-startups in general. Or youtube influencers who try to make money by teaching others how to speculate, if anywhere here is true "Who knows does not talk, who talks does not know".
Michael Every has a realistic view of what is happening because he is looking at all of the facets of economic systems. Marx also wrote about "end stage capitalism." This is what is happening in the US. All of the wealth is going to the top and the Middle Class is disappearing. Why? My opinion is that a consumer middle class is no longer needed. When we were a manufacturing nation the Middle Class was necessary. End stage capitalism when it s finished looks much like Feudalism. It is very important that Michael is looking at all of the economic systems. Great Interview!
@@usewhatyouhave6975 Exactly right. Marx wasn't describing "end stage capitalism" at all. It's really early stage communism. Federal Reserve/fractional banking with counterfeit currency expansion and artificially low interest rates (like we have now) are the Keynesian Socialist economic model and totally incompatible with a true free market. One of the planks of the Communist Manifest was the creation of a central bank in order to destroy a market economy. That's exactly what's happening today.
Michael Every is very insightful and has been able to break down and vocalize many of the feelings and worries I've experienced over the past several years. Thoroughly enjoyed this podcast. Thanks!
well done Michael - great to have highly intelligent individuals who can really get to the bottom of some of the major problems with what's going on - I was literally watching this and able to speak his words out loud before he said them - because of the truth that he was saying - is exactly spot on and those that don't understand, don't give up - rise up in your ability to work out what folk are saying -this is too importatnt for all of us to ignore
Bring on the great reset…I’ve been preparing all my life, delaying gratification, investing in true assets and knowledge. I will not spend, behave and be a slave like the herds to materialism. Corruption, crony-capitalism, Fed inflation, Cantillon effect, and most especially rampant waste, fraud and abusive spending needs to end!
Thanks Adam great guest. Would love to hear a guest speak more specifically to the US Housing Market and what happens in the event of hyperinflation, stagflation, market downturn etc.
Michael Every - whoa... Courageous stuff... Long time since I've seen someone look into the tea leaves, put the book/bias aside and speak knowingly/candidly with historic relevance as to the err of our ways. That's now you and Dr. Jeffrey Sachs - the count is two people who might actually want a better world... "Imagine"!? Thanks, Gents - for a true pleasure trip back to reality - yes, I can handle the truth - and I love it !
Right On, some guilt, but not much, vote with your feet, for your worth debt and compound interest, early civilization had this under . . . . . control until . . . . . , see Dr. Michael Hudson
@@jamesmorton7881 Yes, James - I nearly included Dr. Hudson's name - but right, he is certainly a worthy third person. He, you may know has a RUclips channel: "Prof Michael Hudson". All the best to you !
Michael Every is a bit of renaissance man helping us understand what we face with a salad of knowledge from many diverse fields. Kudos to Adam for facilitating an excellent interview. Now how do I explain all this to my Aunt Millie who is expecting to live off FAANG stocks and various bonds????
Our morons at the Federal reserve should watch this video (at least five times before it can start entering their thick heads programmed by their ivy league taught fakeonomics)
@@uncommonsense9973 I like the way Jim Rickards explains this: Biology R&D departments have safety and containment protocols to prevent deadly viruses escaping and killing the population. ON the contrary, economics departments in academia have to such protections to prevent incorrect and deadly economic theories from escaping into the real world. As a result The Monetary and Financial systems are going to be killed off by these deadly eco-contagions.
Interesting comment about the central banks hiking to put down the recent trend of labor asserting itself. This is something that I hadn’t considered. Excellent interview!
the Fed isn't going to hike and it's not going to taper. It's only bluffing. the Fed is trapped by all the debt we've racked up at all levels. the Fed should taper and hike to burst all the bubbles its inflated so we can rebuild a sound economy based on savings and production, not debt financed consumption
I always followed Michael. He is a rare breed of economists who dare understanding the politics and geo, world, people, history ... As an inseparable part of an economic frame. And yes, I always say the same as Michael ... You can't be a competent economist, manager, investor if you don't understand the Marxist perspective. Or in other words, one will develop quintessential competences in the above by understanding Marxism.
I think it was Kindleberger, who described in his book Manias, Panics, and Crashes, a similar situation during the Mississippi bubble in France, during John Law's central banking reign. Work was scorned and neglected by many, in favor of speculating in the stock of the Mississippi venture, where fortunes were being made weekly.
Excellent discussion. Thank you Michael and Wealthion. I agree with Mr. Every’s points. As an investor, I did not find Bitcoin ect. something I wanted to get into. I do feel a little FOMO. I’m increasing my cash, and gold positions. I retired at 59 from air freight pilot. I’m a hunter, fisher , brewer,baker,gardener now.
“Why would anyone work?” Bang on. Got a 20% pay rise but I see 20% + rises in home prices. What’s the point in participating? I’m going on a long hike.
@MR PEEMP Yep, people clue on pretty quick. When the Petroleum Engineer, the Nurse, the Supermarket Clerk and the Trucker decide to go fishing and scavenge for coconuts because it’s a better use of their time, even after a 20% pay raise, just wait and see how that inflation goes. 🥥 🐠 interest rate increases won’t do jack. But the central planners will still crank them up because that’s the only game they know. By that stage, us young professionals will be able to walk back into the he city and trade a yummy coconut for that second investment property that’s selling on an 18% discount rate. Inequality solved!
Great interview. Lovely to hear someone working to help farmers survive/thrive rather than just helping people click and move money around to effectively get rich from other people's hard work. And to think, I almost skipped the video!
Brilliant interview. Around the 38 minute mark: Pushing property prices has been Australia's 'go to' economic stimulus model since around 1996. Basically it works. Unbelievably well. At the moment, property is going crazy. You can see the results., Huge traffic. Tourist areas jumping. Everyone cashed up (except airline staff). Retail sales supercharged. Caravan (RV) sales booming, boat sales booming, massive waiting lists for Toyota LandCruisers.
Agree and it has been the ONLY game in town! What’s the only thing required to keep a Ponzi scheme going? More and more people joining the game…. (Immigration?)
“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of light, it was the season of darkness, it was the spring of hope, it was the winter of despair.” Charles Dickens: ‘A Tale of Two Cities’
Very smart guy! I hadn't come across Michael before, but he has some fascinating insights, especially into the economic situation in Asia; must watch part II!
Adam, Consumer sentiment and spending is 3/4 of the economy. As long as the consumer’s disposal income or net income (income + saving - debt ) is positively high, the spending will continue and so will the economy and the stock market. Could you dedicate one of your show in this perspective rather than inflation and QE. It seems to me consumer saving and income are still rising and therefore consumer spending will remain strong to drive the economy and the stock market. Thank you.
Wow this is great! Micheal is incredibly sharp! He understands the macro implications of treating the financial product space as a playground while those that prop up the ability to consume struggle everyday to survive!
The can has been, and can still be kicked down the road (so long the US $ is the world reserve currency). We may not even hit a prolonged inflationary period, nor interest rate hikes; there are still ample deflationary forces at play.
“Whether he’s a genius or snake oil salesman is an open question….” LOL This man is a genius and funny. “It was the worst of times and the worst of times….” Epic episode Adam.
Adam Smith came up: The Father Of Free Trade - or so he is called. In his Wealth of Nations two scenarios are proposed where a Free Trade is NOT to be implemented: 1) When other Nations are dumping goods - bringing product and returning only with ballast 2) In National Security Issues - a rather broad concept. So, Free Trade is never absolute. A concept many so called Free Traders totally ignore. I very much like the guest’s opinion that: Why work if one can just swipe? Yes! What happens when no one works? How will this be resolved?
This man is an intelligent man with a deep understanding of the intersection of economic and financial systems, along with their societal implications. Definitely done some good psychedelics in his day.
The basics of Marx's analysis of the problems with employer-employee structured enterprises (Capitalism) is at least as applicable today as it was when he was writing his articles and books. The approach of capturing the government to change the structuring of economies obviously does not work in the long run, and produces "state capitalism" (which no sane person should want to happen) even though that was NOT the ultimate goal of Marx and others. I like most people was completely ignorant of what Marx was actually proposing as the ultimate goal of economic revolution. It is very worthwhile for everyone to become more familiar with the ultimate goals of Marx, and the severe problems with the approach that was taken by the Soviet Union and China and most other "communist" countries.
@@roberttompkins587 I prefer to read third-way economists. Marxist economics always ends badly in reality - and I do not want to find myself in a camp one day.
Very interesting view of the problem that presents itself to the current system. Hopefully, it'll fail sooner rather than later and be replaced with something somewhat better, at least in terms of house price affordability, etc for ordinary people and a more competitive market for small businesses.
If the government insists on intervention into various businesses, then, yes there needs to be regulation such as a return to Glass-Steagall. Any business that government intervenes in will need a never ending increase in regulation. Or they could just allow the invisible hand to reward wise decisions and flush away the poor ones.
Adam, thank you for your gentle, yet obvious defense of the Astrian school. One does not need to look to Marx to see the issues with modern, Western economics.
@Aberman I think its just humanity. If you go live in India, China, Thailand, Argentina like I have, there is a huge wealth divide also, it's that pur financial system has been Weaponized and turned into a casino.
@Aberman True, the wealth extraction tools/technology, is much much better now. We were never free either, and it w!s much better in the 60s & 70s also but technology has made us tracked and watched prison inmates 24/7
He’s talking about Socialism. The problem of regulating Capitalism is that incrementally the state will always impose more regulation over time that will distort capitalism in the end. Each successive government will apply new rules and regulation because the losers of capitalism will demand it from their elected officials. Free Enterprise Capitalism with all its ugliness is still better.
If capitalism fails that failure belongs to the capitalists who refuse to acknowledge the weaknesses of their system; greed, corruption and the denial of public responsibility.
You are right on and l seem to be one of only a few who find this guy's opinions worrying. I find him to be too much of a central control apologist for my taste.
@@cautiousoptimist1926 Every economic system is corruptible because the ones creating the rules, us humans, are imperfect and corruptible. Yes, Capitalism tends to go too far because of human greed, but there is a self correcting mechanism built in called “creative destruction” that cleanses the system and punishes those that participated in the excess speculation. The problem is that for the past 20 years the government & central banks have tried to eliminate the creative destruction aspect of Capitalism.
I'm not sure what world you all live in. Capitalism is a labor relation and is characterized by accumulation. Under low regulation regimes, like we've experienced for the last four decades or more, wealth and power accumulates. The "free enterprise" system by definition requires some outside regulatory force to ensure a fair playing field. We need to bring back trust busting. An economy isnt an esoteric force. It is a human system for meeting human needs and wants. We need to set some rules to facilitate this.
There is plenty of regulation on small company's, I work for a bank. Our regulatory financial risk checks for public companies is basic, Ltd companies is medium and for the little guy really really hard.
Thank you Adam. It bothers me that the suggestions put forward look to me to be the final end of small and medium businesses. Would like to hear more of what is going on in Asia though.
Thank you. Very informative talk. But could you please, regarding to the future of China - or any other country - at least mention how cruelly the respective system treats its citizens? I mean, doesn't that also play a role when you philosophize about which system will prevail? It's not just about how much money people have in their pockets, but also how freely they can lead their lives. And that they don't disappear when they criticize the government. Thank you.
Central bank’s policy is not the only cause of the labor shortage. The demand from the higher compensation of labor is part of the inflationary process just as the higher price of asset, commodities etc.
Amazing. I have felt this way since 2008 when the system should have imploded but didn't. 100 times worse now but in truth, I have been left behind in the investing world. As much as I agree with your guest and channel in general, I don't know if sitting back watching the masses make money works either. What a world! Not meant as a positive statement. lol
The way I understand how he summarized capitalism according to Marx leads me to believe it is flawed. One doesn't start with Money (M). One starts with a service or product. They trade this service or product and obtain M. If they use M to buy something and sell it for M+, then they made a profit. This does not prove that inflation is a necessary part of the system. Loss is as important as profit in capitalism. Loss teaches capitalists valuable lessons and steers them away from producing in low demand areas. Loss keeps the misalocation of resources in check. A manipulated market will pump money into failing or lagging sectors and cause false demand which leads to major resource misallocation. To start with M one must either inherit it or steal it. Inheritance is an aspect of capitalism, but not the foundation of the system. The capitalist system does not benefit from theft. Theft harms the fundamentals of the system. Capitalism does not support centralized power concentrations. The nature of competition keeps power in check as long as the competitive field is ooen and unencumbered by manipulative regulations and other coercive practices. We do not live in a free capitalist society. Ours is highly regulated and centrally manipulated. Fiat currency is printed at will and dumped all over the market, which has created toxic distortions and misallocations. Your version of Marx's summary of capitalism describes this manipulated version of an economic system which is incorrectly labeled as capitalism.
I studied Marx in college and read almost everything he wrote. The system we have now is in need of reforms. But the Progressive party isn't the solution. That is just another dictatorship. We need structural reforms that reward people for real work, real investing, not just speculation and trading by clicking on something. Capitalism isn't a perfect system but it is the best that there is currently on the planet.
Great interview. I will disagree with Michael regarding regulation: too many regulations in the U.S. have enabled those at the top (those who pay for the politicians on our ballots, try researching how much it actually costs to run for office...) and stifle competition. When government picks winners and losers, this ultimately hurts the consumer and destroys the smaller business - who can't afford to enter the marketplace, much less compete. Meanwhile, the oversized players who pay for our elected officials fail (almost on purpose, it feels like) and get a bailout. Other than that, some excellent thoughts, here.
I've been watching the economic/financial experts on You Tube for nearly 20-years, and this is the single best speaker I've ever heard, anywhere. His was the absolutely most complete, reality-based description of what's happening in the world right now as any I've ever seen. The best thing about your guest is that he's not selling anything, he's simply presenting an intelligent, global viewpoint on global issues that I found both refreshing and factual. Kudos.
P.S. The term "Shiba Inu" is a Japanese word meaning, "Dog of Inu." Shiba is a province in Japan, and Inu means dog.
Agree really like this person/guy
One of my favorite interviews. Michael Every is extremely insightful. Thanks for bringing it to RUclips.
One of the best guests! Mr. Every is courageous and honest like I have not seen. Thank you for telling the truth and the obvious.
This guy’s direct speak of his knowledge is extremely refreshing.
I don’t know much finance. I do know his truth speak is brilliant!
This is your best interview yet, and I 've looked at all of them with care. Thank you. Courageous. Thoughtfull and not dogmatic, if the US public can get it (the Daniela interview really scarred me with its quality content : good anecdotal infos sure, but very biased and not so thougtful, bnor, I'm sad to say, educated). Thank you. Thank you. Thank you.
agree very good just fundamental sound analysis
I am going to rewind and listen again. So good!! Extremely educational. Thank you Adam, Wealthion rules!!!!
He see everything out there ,but has not say what his solution is??
This should be on prime time news. These observations needs to be out there, on everybody's radar. Thank you
It is out there ,most people would like to put there head in the sand and hope they things will get better ,they should figure out why things are the way things re and help to correct it ,mostly by voting for the correct person.
@@normandolinic2044
Who? Last time our choice was between a racist wannabe dictator and an 80 year old being controlled by an extremist left wing contingent hell bent on MMT. I dont need Abaraham Lincolin , but can I get just a middle of the road halfway decent semi moderate candidate? Id kill for a John Kerry or a John McCain at this point
It never will be you have to seek out information like this every single family member/friend I've spoken to over the last 3 years has asked where I figure out the information I know how to regurgitate they're to busy watching sports or Netflix to look up informative shit
Hahahaha I shouldn’t be laughing Scott, but you’re correct, our choices are underwhelming to say the least.
This guy is brilliant. The "group of smarter people" that he listens to must be a small one
So straight-talking he pretty much cuts through anything and everything. Love it.
Very smart interviewers.
One of your very best interviews of revealing the craziness of the current economy.
Thanks
Best and most concise speaker on China.
I could not agree more, too many people try to make money without producing any benefit for society. Something wrong with incentives.
I respect the guy for the obvious abilities to think things through on his own and to find pearls among Marx's bag of lost marbles, but I think he misses the utility of blockchain tech. It allows us to automate white collar jobs (much like robots have been doing to blue collar jobs for decades). Cutting out highly-paid paper pushers actually helps all those who really do produce wealth by reducing the drag on capital. DeFi loans cost less for borrowers and bring in more money for the lenders by cutting out pointless bureaucracy and banking overhead. Moving capital to where it's most in demand is crucial to an efficient complex economy.
@@Confusione_Infinito_Absurdum As i understood, he did not criticize the technology, but the sheer number of coins, google says there are 12000 cryptocurrencies (a range of 6000 - 12000). Some of them are certainly useless and all of them have only value, if people agree on their value, while food, water shelter, basic needs in general have value in themselves. One could as well be critical of some spacs, explorer companies or no-business-model-startups in general. Or youtube influencers who try to make money by teaching others how to speculate, if anywhere here is true "Who knows does not talk, who talks does not know".
Michael Every has a realistic view of what is happening because he is looking at all of the facets of economic systems. Marx also wrote about "end stage capitalism." This is what is happening in the US. All of the wealth is going to the top and the Middle Class is disappearing. Why? My opinion is that a consumer middle class is no longer needed. When we were a manufacturing nation the Middle Class was necessary. End stage capitalism when it s finished looks much like Feudalism. It is very important that Michael is looking at all of the economic systems. Great Interview!
Whatever. He missed out and is bitter about it.
Marx had some pithy comments in books two and three, Labour can not buy
what they make.
He is a statist so any “solutions” are doomed to failure. Anarcho-capitalism is truly the Awnser
@@usewhatyouhave6975 Exactly right. Marx wasn't describing "end stage capitalism" at all. It's really early stage communism. Federal Reserve/fractional banking with counterfeit currency expansion and artificially low interest rates (like we have now) are the Keynesian Socialist economic model and totally incompatible with a true free market. One of the planks of the Communist Manifest was the creation of a central bank in order to destroy a market economy. That's exactly what's happening today.
This is not free market capitalism, it's facism. The big businesses could not get this big without lobbying/controlling government.
Great interview Adam. Uncomfortable but necessary viewing.
Well put.
Michael Every is very insightful and has been able to break down and vocalize many of the feelings and worries I've experienced over the past several years. Thoroughly enjoyed this podcast. Thanks!
well done Michael - great to have highly intelligent individuals who can really get to the bottom of some of the major problems with what's going on - I was literally watching this and able to speak his words out loud before he said them - because of the truth that he was saying - is exactly spot on and those that don't understand, don't give up - rise up in your ability to work out what folk are saying -this is too importatnt for all of us to ignore
Thanks Adam for keeping it real!
Thanks Adam for bringing in Michael
Bring on the great reset…I’ve been preparing all my life, delaying gratification, investing in true assets and knowledge. I will not spend, behave and be a slave like the herds to materialism. Corruption, crony-capitalism, Fed inflation, Cantillon effect, and most especially rampant waste, fraud and abusive spending needs to end!
You’ll own nothing and you’ll still not be happy 😉
WoW. ,.you said it all well done.
Why haven't I known him before.? he explains it well.....thank you Adam
Wow what a great interview! You’ll never see this on CNBC. Love your channel.
Why they know what is going on out there ,but just like Michael he doesn’t have a solution .
Great to see Michael Every. He writes the absolutely best articles, I try never to miss any of them. Very nice to see him and hear him in a video!
This guest is right on the mark The best I’ve seen yet
Thanks Adam great guest. Would love to hear a guest speak more specifically to the US Housing Market and what happens in the event of hyperinflation, stagflation, market downturn etc.
Michael Every - whoa... Courageous stuff... Long time since I've seen someone look into the tea leaves, put the book/bias aside and speak knowingly/candidly with historic relevance as to the err of our ways. That's now you and Dr. Jeffrey Sachs - the count is two people who might actually want a better world... "Imagine"!? Thanks, Gents - for a true pleasure trip back to reality - yes, I can handle the truth - and I love it !
Right On, some guilt, but not much, vote with your feet, for your worth
debt and compound interest, early civilization had this under . . . . . control
until . . . . . , see Dr. Michael Hudson
@@jamesmorton7881 Yes, James - I nearly included Dr. Hudson's name - but right, he is certainly a worthy third person. He, you may know has a RUclips channel: "Prof Michael Hudson". All the best to you !
Michael Every is a bit of renaissance man helping us understand what we face with a salad of knowledge from many diverse fields. Kudos to Adam for facilitating an excellent interview. Now how do I explain all this to my Aunt Millie who is expecting to live off FAANG stocks and various bonds????
Our morons at the Federal reserve should watch this video (at least five times before it can start entering their thick heads programmed by their ivy league taught fakeonomics)
@@uncommonsense9973 I like the way Jim Rickards explains this: Biology R&D departments have safety and containment protocols to prevent deadly viruses escaping and killing the population. ON the contrary, economics departments in academia have to such protections to prevent incorrect and deadly economic theories from escaping into the real world. As a result The Monetary and Financial systems are going to be killed off by these deadly eco-contagions.
Finally somebody with a brain wow great interview Casomai vote for president for this guy
One of the best guests you ever had.especially not been a asset manager ect. Excellent points on labour the real economy
Another brilliant interview Adam. Thank you.
Interesting comment about the central banks hiking to put down the recent trend of labor asserting itself. This is something that I hadn’t considered. Excellent interview!
the Fed isn't going to hike and it's not going to taper. It's only bluffing. the Fed is trapped by all the debt we've racked up at all levels. the Fed should taper and hike to burst all the bubbles its inflated so we can rebuild a sound economy based on savings and production, not debt financed consumption
I always followed Michael. He is a rare breed of economists who dare understanding the politics and geo, world, people, history ... As an inseparable part of an economic frame.
And yes, I always say the same as Michael ... You can't be a competent economist, manager, investor if you don't understand the Marxist perspective. Or in other words, one will develop quintessential competences in the above by understanding Marxism.
I think it was Kindleberger, who described in his book Manias, Panics, and Crashes, a similar situation during the Mississippi bubble in France, during John Law's central banking reign. Work was scorned and neglected by many, in favor of speculating in the stock of the Mississippi venture, where fortunes were being made weekly.
Excellent guest, very honest interview.
I sold everything 2 weeks ago and am totally cash because I cannot fathom the disconnect between all the bad economic and political news and reality!
Wow Adam. Michael was a great guest. Wonderful interview. Keep up the great work mate. 👍👍👍
Excellent discussion. Thank you Michael and Wealthion. I agree with Mr. Every’s points. As an investor, I did not find Bitcoin ect. something I wanted to get into. I do feel a little FOMO. I’m increasing my cash, and gold positions. I retired at 59 from air freight pilot. I’m a hunter, fisher , brewer,baker,gardener now.
“Why would anyone work?” Bang on. Got a 20% pay rise but I see 20% + rises in home prices. What’s the point in participating? I’m going on a long hike.
Me too
@MR PEEMP Yep, people clue on pretty quick. When the Petroleum Engineer, the Nurse, the Supermarket Clerk and the Trucker decide to go fishing and scavenge for coconuts because it’s a better use of their time, even after a 20% pay raise, just wait and see how that inflation goes. 🥥 🐠 interest rate increases won’t do jack. But the central planners will still crank them up because that’s the only game they know. By that stage, us young professionals will be able to walk back into the he city and trade a yummy coconut for that second investment property that’s selling on an 18% discount rate. Inequality solved!
It’ll all work out in the end! 😄
Amazing interview, great nuance, I am following this guys work now.
Great interview. Lovely to hear someone working to help farmers survive/thrive rather than just helping people click and move money around to effectively get rich from other people's hard work. And to think, I almost skipped the video!
Get Monsanto/Bayer Farming OUT/We need Biodynamic Regenerative Farming//Agent Orange///Glyphosate//GMO Free Farming !!!
Brilliant interview.
Around the 38 minute mark:
Pushing property prices has been Australia's 'go to' economic stimulus model since around 1996.
Basically it works. Unbelievably well. At the moment, property is going crazy. You can see the results., Huge traffic. Tourist areas jumping. Everyone cashed up (except airline staff). Retail sales supercharged. Caravan (RV) sales booming, boat sales booming, massive waiting lists for Toyota LandCruisers.
Agree and it has been the ONLY game in town! What’s the only thing required to keep a Ponzi scheme going? More and more people joining the game…. (Immigration?)
These insights from Marx are brilliant and so out of the box. What a priviledge to hear this insight. Wealthion is killing these days!
“It was the best of times, it was the worst of times, it was the age of wisdom, it was the age of foolishness, it was the epoch of belief, it was the epoch of incredulity, it was the season of light, it was the season of darkness, it was the spring of hope, it was the winter of despair.”
Charles Dickens: ‘A Tale of Two Cities’
Real enlightening video.awesome Michael.
Very smart guy! I hadn't come across Michael before, but he has some fascinating insights, especially into the economic situation in Asia; must watch part II!
this was an awesome interview, Michael makes you think about how plausible his scenarios are...!
Michael is correct on every point.
Nah.
Awesome interview. I love this guy!
Finally someone who calls out the one percenters correctly
Sharing this with everyone in my office. I'm starting a second listen now. Outstanding content, Adam! 💯
Adam,
Consumer sentiment and spending is 3/4 of the economy. As long as the consumer’s disposal income or net income (income + saving - debt ) is positively high, the spending will continue and so will the economy and the stock market.
Could you dedicate one of your show in this perspective rather than inflation and QE.
It seems to me consumer saving and income are still rising and therefore consumer spending will remain strong to drive the economy and the stock market.
Thank you.
Great interview Adam!
Wow this is great! Micheal is incredibly sharp! He understands the macro implications of treating the financial product space as a playground while those that prop up the ability to consume struggle everyday to survive!
a knowledgeable interview. Really enjoyed it
The can has been, and can still be kicked down the road (so long the US $ is the world reserve currency). We may not even hit a prolonged inflationary period, nor interest rate hikes; there are still ample deflationary forces at play.
“Whether he’s a genius or snake oil salesman is an open question….” LOL
This man is a genius and funny.
“It was the worst of times and the worst of times….”
Epic episode Adam.
Adam Smith came up: The Father Of Free Trade - or so he is called.
In his Wealth of Nations two scenarios are proposed where a Free Trade is NOT to be implemented:
1) When other Nations are dumping goods - bringing product and returning only with ballast
2) In National Security Issues - a rather broad concept.
So, Free Trade is never absolute. A concept many so called Free Traders totally ignore.
I very much like the guest’s opinion that: Why work if one can just swipe?
Yes! What happens when no one works?
How will this be resolved?
This man is an intelligent man with a deep understanding of the intersection of economic and financial systems, along with their societal implications. Definitely done some good psychedelics in his day.
I blame Jazz Hands Policy
When even karl marx is regarded as understanding economics more than the modern high priests of economics... then you know things are off.
Marx developed the theory in the 19th century..
The basics of Marx's analysis of the problems with employer-employee structured enterprises (Capitalism) is at least as applicable today as it was when he was writing his articles and books. The approach of capturing the government to change the structuring of economies obviously does not work in the long run, and produces "state capitalism" (which no sane person should want to happen) even though that was NOT the ultimate goal of Marx and others. I like most people was completely ignorant of what Marx was actually proposing as the ultimate goal of economic revolution. It is very worthwhile for everyone to become more familiar with the ultimate goals of Marx, and the severe problems with the approach that was taken by the Soviet Union and China and most other "communist" countries.
@@roberttompkins587 I prefer to read third-way economists. Marxist economics always ends badly in reality - and I do not want to find myself in a camp one day.
@@Affenpeter Irrelevant.
@@geroestetumor you will never understand economics if you choose to omit major thinkers from your reading list.
Best interview and so true. I use to go to work everyday as a mechanic. I now make more day trading from home.
Refreshing to hear the effect of inflation on rest of world
No doubt the best episode I've seen= truth
Very interesting view of the problem that presents itself to the current system. Hopefully, it'll fail sooner rather than later and be replaced with something somewhat better, at least in terms of house price affordability, etc for ordinary people and a more competitive market for small businesses.
Great, great interview on so many different levels.
I may not be retaining much information but I sure do feel like I’m getting exposure to great knowledge thank you 🙏
Outstanding Content.
If the government insists on intervention into various businesses, then, yes there needs to be regulation such as a return to Glass-Steagall. Any business that government intervenes in will need a never ending increase in regulation. Or they could just allow the invisible hand to reward wise decisions and flush away the poor ones.
Adam, thank you for your gentle, yet obvious defense of the Astrian school. One does not need to look to Marx to see the issues with modern, Western economics.
"A joke of a joke of a joke doesn't feed anybody." THANK YOU! I'm not a socialist or a redistributionist, but I am a REAL[THINGS]-IST
I dissagree- The very top UNDERSTANDS full well what they are doing in this Pump & Dump Looting Scheme Economy of Wealth Transfer.
@Aberman I think its just humanity. If you go live in India, China, Thailand, Argentina like I have, there is a huge wealth divide also, it's that pur financial system has been Weaponized and turned into a casino.
@Aberman True, the wealth extraction tools/technology, is much much better now. We were never free either, and it w!s much better in the 60s & 70s also but technology has made us tracked and watched prison inmates 24/7
+The ability to hand the Bill for our excess, to our progeny,
seems to be bothering our ability to drive the costs up.....
Great interview. Highlights how crony capitalism has created a new (financial) aristocracy. Is ethical capitalism an impossible dream?
Great interview! Despite so many intelligent people Dark Winter is coming.
This guy pretty much nails it! Best interview I’ve seen on where we are at and headed yet! Thank you
He’s talking about Socialism. The problem of regulating Capitalism is that incrementally the state will always impose more regulation over time that will distort capitalism in the end. Each successive government will apply new rules and regulation because the losers of capitalism will demand it from their elected officials. Free Enterprise Capitalism with all its ugliness is still better.
Very true, but no where in the capitalist handbook is “too big to fail”
If capitalism fails that failure belongs to the capitalists who refuse to acknowledge the weaknesses of their system; greed, corruption and the denial of public responsibility.
You are right on and l seem to be one of only a few who find this guy's opinions worrying. I find him to be too much of a central control apologist for my taste.
@@cautiousoptimist1926 Every economic system is corruptible because the ones creating the rules, us humans, are imperfect and corruptible. Yes, Capitalism tends to go too far because of human greed, but there is a self correcting mechanism built in called “creative destruction” that cleanses the system and punishes those that participated in the excess speculation. The problem is that for the past 20 years the government & central banks have tried to eliminate the creative destruction aspect of Capitalism.
I'm not sure what world you all live in. Capitalism is a labor relation and is characterized by accumulation. Under low regulation regimes, like we've experienced for the last four decades or more, wealth and power accumulates. The "free enterprise" system by definition requires some outside regulatory force to ensure a fair playing field. We need to bring back trust busting. An economy isnt an esoteric force. It is a human system for meeting human needs and wants. We need to set some rules to facilitate this.
Jazz hands! That's great. An excellent guest
There is plenty of regulation on small company's, I work for a bank. Our regulatory financial risk checks for public companies is basic, Ltd companies is medium and for the little guy really really hard.
Just listened to video of Rao Paul on ethereum. What a contrast of opinion!
Once people jump in they become evangelists
Same think, my feeling is adapt to survive otherwise you lose. Economic text book are great until they don't work.
Our system isn’t Capitalism and blaming current conditions on Capitalism is nonsense.
Great stuff. Thanks guys
a third PARTY for equality, vote for change
Thank you Adam. It bothers me that the suggestions put forward look to me to be the final end of small and medium businesses. Would like to hear more of what is going on in Asia though.
Thank you. Very informative talk. But could you please, regarding to the future of China - or any other country - at least mention how cruelly the respective system treats its citizens? I mean, doesn't that also play a role when you philosophize about which system will prevail? It's not just about how much money people have in their pockets, but also how freely they can lead their lives. And that they don't disappear when they criticize the government. Thank you.
Central bank’s policy is not the only cause of the labor shortage. The demand from the higher compensation of labor is part of the inflationary process just as the higher price of asset, commodities etc.
its nice to hear someone who feels the same way about crypto that I do
Both you guys are welcome to stay away from crypto hence remain poor and miserable for the rest of your lives.
@@sargon4451 ahahaha good luck with your scratch and win with exrra steps lol
Smash that like button (only once though)
Michael Every yes! Elusive but so good, I read all I can find from him
Correct why work when you can start a coin that siphons investors money
Chinese local governments are also $8 trillion in debt, and much of their income comes from property development.
9:55 "Parody Coins" 10:01 "Third Derivative Of Parodies"
can u share green energy potential's stock for us?
Great interview but stuck in the past. Adapt to survive.
Amazing. I have felt this way since 2008 when the system should have imploded but didn't. 100 times worse now but in truth, I have been left behind in the investing world. As much as I agree with your guest and channel in general, I don't know if sitting back watching the masses make money works either. What a world! Not meant as a positive statement. lol
Exceptional
The best! Thank you.
Shiba to the Moon!!
Elon to Mars?
The way I understand how he summarized capitalism according to Marx leads me to believe it is flawed. One doesn't start with Money (M). One starts with a service or product. They trade this service or product and obtain M. If they use M to buy something and sell it for M+, then they made a profit. This does not prove that inflation is a necessary part of the system. Loss is as important as profit in capitalism. Loss teaches capitalists valuable lessons and steers them away from producing in low demand areas. Loss keeps the misalocation of resources in check. A manipulated market will pump money into failing or lagging sectors and cause false demand which leads to major resource misallocation. To start with M one must either inherit it or steal it. Inheritance is an aspect of capitalism, but not the foundation of the system. The capitalist system does not benefit from theft. Theft harms the fundamentals of the system. Capitalism does not support centralized power concentrations. The nature of competition keeps power in check as long as the competitive field is ooen and unencumbered by manipulative regulations and other coercive practices.
We do not live in a free capitalist society. Ours is highly regulated and centrally manipulated. Fiat currency is printed at will and dumped all over the market, which has created toxic distortions and misallocations. Your version of Marx's summary of capitalism describes this manipulated version of an economic system which is incorrectly labeled as capitalism.
I studied Marx in college and read almost everything he wrote. The system we have now is in need of reforms. But the Progressive party isn't the solution. That is just another dictatorship. We need structural reforms that reward people for real work, real investing, not just speculation and trading by clicking on something. Capitalism isn't a perfect system but it is the best that there is currently on the planet.
#1 RUN,CRASH, Keep it Together by Mat Loseth thru RUclips sold by Kindle.
Great interview. I will disagree with Michael regarding regulation: too many regulations in the U.S. have enabled those at the top (those who pay for the politicians on our ballots, try researching how much it actually costs to run for office...) and stifle competition. When government picks winners and losers, this ultimately hurts the consumer and destroys the smaller business - who can't afford to enter the marketplace, much less compete. Meanwhile, the oversized players who pay for our elected officials fail (almost on purpose, it feels like) and get a bailout. Other than that, some excellent thoughts, here.