You folks have been so wrong for last 1year+, you've lost many tons of money for many Your conferences etc. Should be free. You should hold yourself accountable but you won't cause your fees keep you from losing sleep
He does and he is well articulated. That being said, he has been saying the same thing for over a year: long gold, long BTC, long energy, short bonds, mixed views in stocks. Some hits and some misses.
Yes, great to hear all perspectives to avoid confirmation bias. The system is very strained and brittle and nobody really knows what black swan will cause the collapse.
Fertilizer never gets talked about. It really is a baseline for everything and when oil/diesel goes up just a fraction it cost farmers so much and they have to pass the cost down the line and that’s a long ass line. From trains and tankers to trucks to the grocery stores and your snicker bar and cream for your coffee.
👍Luke clearly explained the simple re-introduction of gold as a practical means of exchange. No need for BRICS+ to flaff about with a doomed-to-fail complicated currency role-out, just use gold itself. (Non-BRICS Indonesia is working towards such a parallel gold-currency system. )👍
Best interview of 2023 - Luke lays out the path to keeping your family safe as this period of geopolitical and economic transition accelerates towards a new normal. I pray the future includes freedom, but Luke’s advices is the best there is to protect yourselves.
Due to inflation, you may need upward of $3.6million to maintain your existing lifestyle, with the ongoing effect of high inflation, lower forecasted stock market returns or value, and stagnant wages. Achieving a secure early retirement could be more challenging than ever before.
• Hello I'm already in retirement and have over $720k in a CD account with a very low interest rate. I only need $200k for liquidity purposes (emergency funds) and plan on growing the bulk. I discovered Kayla exceptional resume when I Googled her name online. I consider it a blessing.
Peter Schiff points out that huge government deficits stimulate the economy (as inefficient as gov is). On one hand the Fed raises rates to contract the economy while the gov spending stimulates it. A race to the bottom.
You have great guests Mr. Taggart. This guy certainly doesn't pull any punches and his pessimism is data driven. It's refreshing to hear a sober minded appraisal of the Gordian Knot that is the US Economy.
Luke is right. Bringing deficit spending back down to a somewhat balanced level is the ONLY way for the current monetary system to be sustainable. The problem is that voters, and therefore politicians, do not have the appetite to reduce the (artificially inflated) living standards they've grown used to. This is not about the haves versus the havenots: they BOTH need to accept that federal budgetary pain is required or they BOTH will suffer the consequences. The haves will see their wealth confiscated via wealth tax, capital controls, property taxes, etc. The havenots will suffer via inflation.
As someone who invests in houses, I get how important it is to be ready for changes. Luke's ideas remind us to learn and be ready to try new things when things get tricky.
More than most of the guests on Wealthion, Luke is great at projecting a high degree of certitude regarding his outlook. He claims homeowners are "locked in" at low rates, so would tolerate inflation. I'm sure Luke is "locked in". but consider, ~ 40% of households are renters. They skew to low-income. These are the ones most susceptible to inflation and money-printing. Further, about 40% of people who own a home, have NO mortgage. They too would not benefit from inflation. So, I think Luke's opinion about the political landscape of accepting more money-printing is essentially "talking his own book". Luke also suggests entitlement benefits need to be cut, but won't be. Here is an obvious alternative which Luke apparently cannot contemplate: eliminate the earnings cap on FICA taxes. That alone fixes about 90% of the Social Security funding gap. And as that action would prove mildly DEflationary, and would also address govt deficit accounting metrics, this would seem to be an obvious policy solution. -- Luke would probably be among those paying more taxes here, so he again, neglects to mention this obvious solution.
Yes, the very wealthy are milking Social Security to death because the taxation level cut-off spares them. Wonder why..?? /s. OH, and the GOP robs the SS trust fund!
Luke called this coming soon consistently for the last 18 months, with high conviction on the timing. By his own admission don't listen to any one that is 100% sure of the future events with timing. Come on TLT EDV TMF for a trade.
It’s very scary how many in this country just fly by the seat of their pants and know very very little about our monetary and fiscal system and the cliff we stand on.
@@jonEmontana mainstream media doesn’t provide in depth analysis….. it’s on financial channels to some extent but RUclips has the experts and can offer depth…. for those that seek. I shared some Rickards/ Dalio / Felix Zuleuf (?) information with my boss a few months ago and she had no grasp on any of it. She is extremely busy doing her work and assisting her daughters getting their families and careers going. General public is fixated on parties and sports, TV or other entertainment like gaming. We have been distracted by media instead of informed. Lots of mainstream media propaganda to keep the status quo intact …. for as long as possible, kicking the can down the ….. huh, we’ve run out of road.
Speaking of productivity miracles, barring action from Congress the estate tax will basically double for high net worth households on Jan 1, 2026. This means a lot of Boomer wealth will be passed on to children and charities before then. There was a recent WSJ article on this. How does this affect the endgame Luke envisions?
Reach out to former Exxon CEO Rex Tillerson. As POTUS Trump installed him as Secretary of State, and he coordinated arctic exploration with the Russians instead of starting a war with them as Biden has done. Your future will depend on energy and that will soon be a State Dept issue, never mind Energy Dept. Trump knows that much. Adam should try and get someone like that to talk about energy.
Again I ask, (but ignored), why doesn't Luke consider that the US can lift sanctions on the super big oil resource countries like Iran, Venezuela, etc.? They can and that would allow lots more oil onto the market.
Luke explains much better than I what I've been thinking was the end game for years ... only you'd think knowing these realities would move markets the way that makes sense ... but they don't. It always seems we have to push things to disaster and then everyone just says "no one could have seen this coming!". It's just so absurd there is no proactive policy awareness of any kind and 99% of people don't understand this stuff ... and 90% couldn't understand it if Luke explained it to them at their dinner table anyway.
Adam, great interview! Thanks for having Luke on. No nonsense, straight to the point commentary on where we are and where we're headed. But it does make me, and should make us all very nervous, about how the Feds may ultimately decide to go after that $73 trillion in boomer assets. (PS: it's $73T, not 65T, according to Ed Yardeni)! Also, very interesting that Luke mentioned owning Bitcoin...(wanted to hear more about that btw)
It very well may not go too the dump, but I'm right there with Luke!! I'm by no means an investor but rather a realist. For the most of it they call us dumb south Carolinian's. Dad always said some people don't need to reproduce and appears an abundance did, and went into politics.
The Fed having to print money to keep the US Government going because of a lack of tax receipts is, in my view, a very real and accurate assesment. Luke is correct that it will be inflationary as well. The harsh reality is that the long time economic party with artificial low rates, low inflation and lot's of money in circulation has come to an end. With the BRICS nations amounting to 50 percent of the worlds population, I beleive scarcity will also become another problem along with the collapse of the US dollar. Plate C
Luke overlooks the fact that 2022 tax receipts were at all-time record highs. THAT is the scary part because it nowhere near feeds the bulldog for the kind of runaway spending taking place.
I would put a miracle under unpredictable. Even though Luke makes some great assessments of foreseeable miracles, I'm willing to say that a miracle by definition would be unforseen. Hence, miracle. Only time will tell, Macro operates on these vaguely long term timelines in such a way that we know what will happen but not when or precisely how.
The intricacies of the commercial real estate market are often underestimated. As we've seen in places like San Francisco, there are already signs of strain. The looming challenges in refinancing and the increased cost of debt, especially when juxtaposed with the banks' demands for additional equity, paint a concerning picture. It's crucial to understand that these dynamics are not isolated; they're intertwined with broader economic factors. For instance, the role of oil as a driving force in economic growth cannot be understated. It's not just about the immediate implications on the housing market, but the ripple effects it has on the global economy. The interplay between commercial real estate, oil prices, and broader economic indicators offers a comprehensive view of where we might be headed. It's essential for investors, policymakers, and the general public to be well-informed and prepared for potential shifts in the market landscape.
outstanding discussion on the ''argentinazation'' of the US economy. Holding gold; real assets oil and blue chips which are able to grow FCF and EPS above inflation trend is the right recipe for what is next.
Luke says, correctly, that the U.S. paid for Japan's defense. More critically the U.S. has paid for everyone else's defense which is why Europe has had such a generous social system. Also provided energy security by making sure ships can transport oil globally. Think this is not appreciated but obliquely referred to as the dollar's "exorbitant privilege". Do not know about de-dollarization or fourth turning but the Pax Americana has been largely beneficial but the social contract has deeply frayed in the intervening decades.
The US economy is grappling with uncertainties, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings of about $420,000 losing value because of high inflation. Where else can we keep our money?
Unless there is a significant raise in unemployment pushing stressed sellers to list (or default) their 3% mortgage properties, there is no reason for new supply to hit the market. Therefore, prices remain high.
My advice to anyone starting out in the market is to seek guidance as its the best way to build long term wealth while managing your risk and emotions with the passive investing strategy.
The trading market is constantly evolving with new features, trading opportunities, financial swings with sudden surprises around every corner. The best thing is to stay in shape and don’t let anything catch you on the wrong foot
I know Camille Anne Hector, Been trading with her since 2021, my first investment with her gave me profit of over $265,000 and ever since then she has never failed to deliver and I can even say she's the most sincere broker I have known
I think Luke assumes that everybody has rich parents to bail them out. Also, a good amount of people who get inheritances will blow it all on a new car within 2 years.
Goepolitic developments influence where to invest and an out of the box thinking is needed for that and that is what Luke Gromen is doing which makes interviews very interesting to watch. On top of that hé is very smart in analysing and coming with interesting views you do not hear all the time.
When you consider the content of this interview, and many parallel and similar ones on Wealthion, what is very disconcerting is you never hear even a glimmer of recognition from Powell and Yellen on the serious macro conditions facing the U.S. currently. ( Or the White House ofcourse ) Either they are oblivious or incompetent or do not believe it should be mentioned in order to keep the populus from the truth and under control. I share the opinion that some point something breaks in the system triggering a series of recessionary problems and decays.
Danielle DiMartino Booth last week, and Luke Gromen this week WOW. Adam you should invite Lyne Alden and talk about her new book: Broken Money: Why Our Financial System is Failing Us and How We Can Make it Better That would do like a short release economic trilogy interview! Thanks for keeping us economics informed and giving us multiple perspective with all these interview.
I love Luke and agree with his worldview. What I can’t quite grasp is how they’ll be able to keep rates low during a period of high inflation. Bill Fleckenstein and others always talk about how the bond market might some day take away the printing press. I guess if you launch a big enough yield curve control program that will somewhat solve the problem. But what about nature’s discount rate, high oil prices? Wouldn’t this have a highly deflationary impact vis a vis a lack of credible borrowers and reduced consumer spending power. Will the government be cutting checks to everyone to make up for that too? Also wonder about mortgages and other consumer loans in a ycc world. Would banks lend a mortgage at a negative rate? Or a used car loan? Because surely rates at levels near the kind of inflation we’re talking about would severely hinder growth of credit. Great interview, though! Thanks!
my only beef with this is that regardless of fundamentals, which are wildly bullish, oil will plummet during a recession no matter what. the time to buy oil if you believe a recession is coming is not now... oil could easily drop 50% in 6 months in such a case only to triple from there but it WILL go down in a recession make no mistake.
US does not need oil from Middle East any more. US is oil exporter. But the key is about the US dollar. The reason US kept low interest rate for so long was from its international reserve currency status. Now that status is in real danger.
What I am surprised is not discussed about the financial mess we are in is the ability of the fed gov once the system is at a breaking point, to come after our assets in some creative way. In other words, you are rich so you will be taxed much more. I believe this is the goal. The final reset.
Government ultimately cares about itself first and above all else. Any minority group can be pillaged as long as the majority believe they will benefit. I never thought I would see USA drive itself into the ground, but DC politicians are very crafty.
Demand for Oil always goes down during a recession and this one looks to be a Global one. So Oil will go down even if OPEC cuts production other non-members will cheat forces them increase production to keep market share.
That is how Joe Sixpack and Sally Software has been taught to think about money. The US economy is 70% driven by the consumer and that consumer is financially illiterate.
@@terrillmel Than before What? When? Last 60/80 years? History has much to teach about “home ownership” This period has been an anomaly- not the rule. Just saying......
@@johnbirman5840 so you think home ownership age will go back down. I think we're going the way of Japan. They will choose inflation at costs and future generations will own less. Wages have been falling behind asset prices since the early 80s.
If the Fed let's the US$ inflate away debt, then residential real estate will explode as people seek real assets to keep pace with inflation. With inflation, the real interest rate will go negative. Residential real estate will be frozen until nominal prices explode, but real values will be flat or slightly negative.
Always learn something. The average real rate on bonds negative early 1900 to 1992 that is amazing certainly not a way to make money!! I didn't recognise that bond int rate has reasonable chance of actually going up so much if no- one buys their bond possible and maybe probable?
You can see the gears stripping in Adam's head as he's trying to think of the scale... Im right there with him. Enjoyed the interview. Ill be watching again.❤
Equalized distribution of resources has never worked. It’s not just one big pie, rather every productive hard working individual can bake their own pie. Capitalism has brought extraordinary prosperity to the entire world. All the redistribution countries have shown us that it doesn’t work. My vote is for increased productivity through less regulation together with responsible government spending.
I agree. The entire 20th century was a lab experiment of capitalism vs socialism, and history clearly appointed a winner. Revisiting those socialist experiments would be ignoring some of the lessons the 20th century taught us.
History in France has taught us that stark contrast in quality of life leads to a revolution where the wealthy are killed by the masses. The social fabric will break down at some point and we are seeing riots and looting that may be a foreshadowing of what is to come unless we find ways to engage the people living at the low income level and build a pathway for them to follow that offers hope and a chance to gain skills, contribute and prosper. Handouts are not sustainable but we have AI poised to replace millions of workers. Tough situation Bidenomics.
I understand that a lot of people are terrified over deficits and debt levels, but do they ever question what would stop mercantilist nations like China from relying on exports? Xi thinks that allowing more money to households is a total waste, so the stimulus he’s giving is mainly dedicated to expanding excess factory capacity for the export machine. These exports have to go somewhere, and the wealthy in China are more interested in accumulating western assets than assets in BRICS nations. Also, the “creditor” nations like China and Japan aren’t just building huge assets for a rainy day, they are also accumulating large debt levels to prop up economies which are stagnant because of their unwillingness to allow their own consumers money to spend - so they have ghost cities and wasteful government projects instead of consumer goods. US Debt levels can go up indefinitely as long as these countries subsidize export growth over internal growth. Also, the debt levels themselves are actually deflationary - they pull future dollars out of the system - which is partly why the USD has been so strong relative to other currencies. The time to be worried about dollar devaluation is, somewhat ironically, when debt/gdp begins to fall significantly. That’s exactly how it played out in 1950-1970.
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Timestamps?
You folks have been so wrong for last 1year+, you've lost many tons of money for many
Your conferences etc. Should be free. You should hold yourself accountable but you won't cause your fees keep you from losing sleep
Lyn Alden has a new book, when is she back in wealthion?
Luke has strong convictions, and gives reasons for all of his takes. Much respect for him, and great interview.
Fair enough, but this ain’t no eighth inning we’re in. We’re still shagging fly balls in the outfield during pre-game batting practice.
He does and he is well articulated. That being said, he has been saying the same thing for over a year: long gold, long BTC, long energy, short bonds, mixed views in stocks. Some hits and some misses.
Being early is being wrong
Yes, great to hear all perspectives to avoid confirmation bias. The system is very strained and brittle and nobody really knows what black swan will cause the collapse.
Scam alert 🚨
291k subs as of aug 30 2023. this channel is growing very fast, no surprise.
Fantastic interview Adam. Enjoyed Luke’s clarity of thought and conviction. One of the best guests 👍👍
Luke Gromen ladies and gentlemen….👏👏👏💪💪💪 talking sense in a senseless era.
Recession has been with us for months. Depression is what is inevitable.
@oliveradams5030 BS. She scammed me for 20 grand. Stay away!
@pamelaparis1659reported as a scam and spam
stop the scamming.
What do people expect when we're coming to the end of a long-term debt cycle. Record breaking indebtedness 🙉🙊🙈
Fertilizer never gets talked about. It really is a baseline for everything and when oil/diesel goes up just a fraction it cost farmers so much and they have to pass the cost down the line and that’s a long ass line. From trains and tankers to trucks to the grocery stores and your snicker bar and cream for your coffee.
Check out "Peter Zeihan". He's been talking about fertilizer and the production/distribution/resources necessary and who has what for years...
The WEF are banning it worldwide
Dude a Snickers bar is two dollar in our vending machine at work. It’s nut.
News flash: farmers don’t set commodity prices.
I love the way he values Oil in terns of Gold. Great Interview. Thanks, Regards,
This is theee best explanation I have heard about the Japan vs US comparison in a downturn. Please continue to have this guy on again.
Ƭx̷ƬᎷe±𝟏𝟖𝟒𝟑𝟕𝟓𝟓𝟏𝟓𝟖𝟕👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻💬💬
👍Luke clearly explained the simple re-introduction of gold as a practical means of exchange. No need for BRICS+ to flaff about with a doomed-to-fail complicated currency role-out, just use gold itself. (Non-BRICS Indonesia is working towards such a parallel gold-currency system. )👍
That was a masterclass right there. Thank you Luke for your generosity. Much appreciation, all the best. 🙏
Best interview of 2023 - Luke lays out the path to keeping your family safe as this period of geopolitical and economic transition accelerates towards a new normal. I pray the future includes freedom, but Luke’s advices is the best there is to protect yourselves.
Due to inflation, you may need upward of $3.6million to maintain your existing lifestyle, with the ongoing effect of high inflation, lower forecasted stock market returns or value, and stagnant wages. Achieving a secure early retirement could be more challenging than ever before.
• Hello I'm already in retirement and have over $720k in a CD account with a very low interest rate. I only need $200k for liquidity purposes (emergency funds) and plan on growing the bulk. I discovered Kayla exceptional resume when I Googled her name online. I consider it a blessing.
I earn $93,000 a week. GOD bless Kayla Rodrigues, she has been a blessing to my family
Wow. Scammers all over these comments, making identical scam replies to multiple comments.
I appreciate the lack of a question mark in your title. Truth is power.
Peter Schiff points out that huge government deficits stimulate the economy (as inefficient as gov is). On one hand the Fed raises rates to contract the economy while the gov spending stimulates it. A race to the bottom.
You have great guests Mr. Taggart. This guy certainly doesn't pull any punches and his pessimism is data driven. It's refreshing to hear a sober minded appraisal of the Gordian Knot that is the US Economy.
Toward the end. He absolutely said Congress needs to stop the spending and eliminate social spending immediately.
Get rid of corporate welfare, too?? 🤔🤔🤔
Luke is right. Bringing deficit spending back down to a somewhat balanced level is the ONLY way for the current monetary system to be sustainable.
The problem is that voters, and therefore politicians, do not have the appetite to reduce the (artificially inflated) living standards they've grown used to. This is not about the haves versus the havenots: they BOTH need to accept that federal budgetary pain is required or they BOTH will suffer the consequences. The haves will see their wealth confiscated via wealth tax, capital controls, property taxes, etc. The havenots will suffer via inflation.
@HectorYague I agree 100% our founders are rolling over with sheer disgust.
Excellent insightful and presented well thank you
One of my favorite two part series to date - thank you, both of you.
As someone who invests in houses, I get how important it is to be ready for changes. Luke's ideas remind us to learn and be ready to try new things when things get tricky.
Ƭx̷ƬᎷe±𝟏𝟖𝟒𝟑𝟕𝟓𝟓𝟏𝟓𝟖𝟕👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻💬💬
More than most of the guests on Wealthion, Luke is great at projecting a high degree of certitude regarding his outlook.
He claims homeowners are "locked in" at low rates, so would tolerate inflation. I'm sure Luke is "locked in". but consider, ~ 40% of households are renters. They skew to low-income. These are the ones most susceptible to inflation and money-printing. Further, about 40% of people who own a home, have NO mortgage. They too would not benefit from inflation. So, I think Luke's opinion about the political landscape of accepting more money-printing is essentially "talking his own book".
Luke also suggests entitlement benefits need to be cut, but won't be. Here is an obvious alternative which Luke apparently cannot contemplate: eliminate the earnings cap on FICA taxes. That alone fixes about 90% of the Social Security funding gap. And as that action would prove mildly DEflationary, and would also address govt deficit accounting metrics, this would seem to be an obvious policy solution. -- Luke would probably be among those paying more taxes here, so he again, neglects to mention this obvious solution.
Yes, the very wealthy are milking Social Security to death because the taxation level cut-off spares them. Wonder why..?? /s. OH, and the GOP robs the SS trust fund!
9:30 he says they need to cut rates entitlements 30 to 40% and defence NOW. He did say but they won't do it.
Luke called this coming soon consistently for the last 18 months, with high conviction on the timing.
By his own admission don't listen to any one that is 100% sure of the future events with timing.
Come on TLT EDV TMF for a trade.
Great interview! I can’t believe so many people are oblivious to the facts of our system.
@@omegaplumbing It was not a question...it was a statement
big difference in this case
It’s very scary how many in this country just fly by the seat of their pants and know very very little about our monetary and fiscal system and the cliff we stand on.
@@jonEmontana mainstream media doesn’t provide in depth analysis….. it’s on financial channels to some extent but RUclips has the experts and can offer depth…. for those that seek. I shared some Rickards/ Dalio / Felix Zuleuf (?) information with my boss a few months ago and she had no grasp on any of it. She is extremely busy doing her work and assisting her daughters getting their families and careers going. General public is fixated on parties and sports, TV or other entertainment like gaming. We have been distracted by media instead of informed. Lots of mainstream media propaganda to keep the status quo intact …. for as long as possible, kicking the can down the ….. huh, we’ve run out of road.
Speaking of productivity miracles, barring action from Congress the estate tax will basically double for high net worth households on Jan 1, 2026. This means a lot of Boomer wealth will be passed on to children and charities before then. There was a recent WSJ article on this. How does this affect the endgame Luke envisions?
Ƭx̷ƬᎷe±𝟏𝟖𝟒𝟑𝟕𝟓𝟓𝟏𝟓𝟖𝟕👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻💬💬
Simply Fantastic, Adam, I congratulate you on your success!
Reach out to former Exxon CEO Rex Tillerson. As POTUS Trump installed him as Secretary of State, and he coordinated arctic exploration with the Russians instead of starting a war with them as Biden has done. Your future will depend on energy and that will soon be a State Dept issue, never mind Energy Dept. Trump knows that much. Adam should try and get someone like that to talk about energy.
Excellent guest @Wealtheon.....going back to watch episode 1 now.
There's no link for #1
This is real talk in an interview.
I appreciate this video
Again I ask, (but ignored), why doesn't Luke consider that the US can lift sanctions on the super big oil resource countries like Iran, Venezuela, etc.? They can and that would allow lots more oil onto the market.
Luke explains much better than I what I've been thinking was the end game for years ... only you'd think knowing these realities would move markets the way that makes sense ... but they don't. It always seems we have to push things to disaster and then everyone just says "no one could have seen this coming!".
It's just so absurd there is no proactive policy awareness of any kind and 99% of people don't understand this stuff ... and 90% couldn't understand it if Luke explained it to them at their dinner table anyway.
Adam, Great interview, Luke Gromen is awesome!
Adam, great interview! Thanks for having Luke on. No nonsense, straight to the point commentary on where we are and where we're headed. But it does make me, and should make us all very nervous, about how the Feds may ultimately decide to go after that $73 trillion in boomer assets. (PS: it's $73T, not 65T, according to Ed Yardeni)! Also, very interesting that Luke mentioned owning Bitcoin...(wanted to hear more about that btw)
Luke has been advocating Bitcoin for a long time now. See also Lyn Alden
Even though this was filmed 10 months ago, I never miss anything that Luke Gorman's on
Thanks for having Luke on Wealthion Adam. Great channel 👍
Ƭx̷ƬᎷe±𝟏𝟖𝟒𝟑𝟕𝟓𝟓𝟏𝟓𝟖𝟕👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻💬💬
Thanks guys!
Great interview!
Thanks for having Luke on!
......And YET, the Market grinds higher!
This guy is too smart. Please do a much slower deep dive with this genius.
Fantastic interview, Luke Gromen on fire today!!!!!
He's got the same idea, I do! Nice to hear the feedback and ideas during this interview.
So I'm a boomer. Guessing as to what the guest said, I should watch my back.
I can't reach. What's your secret?@@5577Nar
☠️😏
He’s not your threat….Pfizer is
Luke is good. He talks over my head easily.
It very well may not go too the dump, but I'm right there with Luke!! I'm by no means an investor but rather a realist. For the most of it they call us dumb south Carolinian's. Dad always said some people don't need to reproduce and appears an abundance did, and went into politics.
LOL! So true! Congress is full of deranged lunatics. Morons placed in high
positions for the sole reason of dividing people into Team A and Team B
What are some good ETFs to invest in oil in the ground or energy innovation companies?
Great interview!
Speculation on BRICS @29:10
Very insightful!
The Fed having to print money to keep the US Government going because of a lack of tax receipts is, in my view, a very real and accurate assesment. Luke is correct that it will be inflationary as well. The harsh reality is that the long time economic party with artificial low rates, low inflation and lot's of money in circulation has come to an end.
With the BRICS nations amounting to 50 percent of the worlds population, I beleive scarcity will also become another problem along with the collapse of the US dollar.
Plate C
Luke overlooks the fact that 2022 tax receipts were at all-time record highs. THAT is the scary part because it nowhere near feeds the bulldog for the kind of runaway spending taking place.
Gold , Silver , BTC , Oil , Other Commodities.
Ƭx̷ƬᎷe±𝟏𝟖𝟒𝟑𝟕𝟓𝟓𝟏𝟓𝟖𝟕👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻💬💬
Oil is much more valuable than gold or dollars. Oil grows food, transports it and cooks it.
Ƭx̷ƬᎷe±𝟏𝟖𝟒𝟑𝟕𝟓𝟓𝟏𝟓𝟖𝟕👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻💬💬
I would put a miracle under unpredictable. Even though Luke makes some great assessments of foreseeable miracles, I'm willing to say that a miracle by definition would be unforseen. Hence, miracle. Only time will tell, Macro operates on these vaguely long term timelines in such a way that we know what will happen but not when or precisely how.
Ƭx̷ƬᎷe±𝟏𝟖𝟒𝟑𝟕𝟓𝟓𝟏𝟓𝟖𝟕👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻👍🏻💬💬
The intricacies of the commercial real estate market are often underestimated. As we've seen in places like San Francisco, there are already signs of strain. The looming challenges in refinancing and the increased cost of debt, especially when juxtaposed with the banks' demands for additional equity, paint a concerning picture. It's crucial to understand that these dynamics are not isolated; they're intertwined with broader economic factors.
For instance, the role of oil as a driving force in economic growth cannot be understated. It's not just about the immediate implications on the housing market, but the ripple effects it has on the global economy. The interplay between commercial real estate, oil prices, and broader economic indicators offers a comprehensive view of where we might be headed. It's essential for investors, policymakers, and the general public to be well-informed and prepared for potential shifts in the market landscape.
outstanding discussion on the ''argentinazation'' of the US economy. Holding gold; real assets oil and blue chips which are able to grow FCF and EPS above inflation trend is the right recipe for what is next.
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Luke says, correctly, that the U.S. paid for Japan's defense. More critically the U.S. has paid for everyone else's defense which is why Europe has had such a generous social system. Also provided energy security by making sure ships can transport oil globally. Think this is not appreciated but obliquely referred to as the dollar's "exorbitant privilege". Do not know about de-dollarization or fourth turning but the Pax Americana has been largely beneficial but the social contract has deeply frayed in the intervening decades.
Define commercial real estate. Does that only include RE such as office buildings or are you including multifamily?
Please invite Richard Werner on the show. Thank you for all you do Adam.
Wow, thank you Adam, so nice to hear some, both helpful and truthful, valuable insights here.
The US economy is grappling with uncertainties, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings of about $420,000 losing value because of high inflation. Where else can we keep our money?
I find this intriguing. Could you please provide me with the means to get in touch with your Adviser? I am concerned about my dwindling portfolio.
She appears to be well-educated and well-read. I ran a Google search on her name and came across her website; thank you for sharing.
I like Luke but can you tell us what he has gotten right from years back? Good at selling his points just want to know track record
the "out" is to grow - grow GDP, grow our energy reserves, reduce red tape to free up free enterprise, reduce taxes to allow private investment
So did Luke basically say that the coming volatile market will not impact the housing market prices downward that much?
That's what I understood of it. BUT location location location
Unless there is a significant raise in unemployment pushing stressed sellers to list (or default) their 3% mortgage properties, there is no reason for new supply to hit the market. Therefore, prices remain high.
Great interview
My advice to anyone starting out in the market is to seek guidance as its the best way to build long term wealth while managing your risk and emotions with the passive investing strategy.
The trading market is constantly evolving with new features, trading opportunities, financial swings with sudden surprises around every corner. The best thing is to stay in shape and don’t let anything catch you on the wrong foot
I know Camille Anne Hector, Been trading with her since 2021, my first investment with her gave me profit of over $265,000 and ever since then she has never failed to deliver and I can even say she's the most sincere broker I have known
I think Luke assumes that everybody has rich parents to bail them out. Also, a good amount of people who get inheritances will blow it all on a new car within 2 years.
±𝟏𝟖𝟒𝟑𝟕𝟓𝟓𝟏𝟓𝟖𝟕⊥👍🏽👍🏽👍🏽👍🏽👍🏽👍🏽👍🏽👍🏽👍🏽👍🏽👍🏽👍🏽💬💬💬
Goepolitic developments influence where to invest and an out of the box thinking is needed for that and that is what Luke Gromen is doing which makes interviews very interesting to watch. On top of that hé is very smart in analysing and coming with interesting views you do not hear all the time.
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When you consider the content of this interview, and many parallel and similar ones on Wealthion, what is very disconcerting is you never hear even a glimmer of recognition from Powell and Yellen on the serious macro conditions facing the U.S. currently. ( Or the White House ofcourse ) Either they are oblivious or incompetent or do not believe it should be mentioned in order to keep the populus from the truth and under control. I share the opinion that some point something breaks in the system triggering a series of recessionary problems and decays.
Excellent points. Well said.
Another way to "cut" Inflation is to raise Margin requirements if they want to slow down the economy and they have not done it at all.
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Danielle DiMartino Booth last week, and Luke Gromen this week WOW.
Adam you should invite Lyne Alden and talk about her new book: Broken Money: Why Our Financial System is Failing Us and How We Can Make it Better
That would do like a short release economic trilogy interview!
Thanks for keeping us economics informed and giving us multiple perspective with all these interview.
Economic investigator Frank G Melbourne Australia is still watching this very informative content cheers Frank ❤
Great guest. Thank you
Great interview and conversation
Reality check.... Great episode
I love Luke and agree with his worldview. What I can’t quite grasp is how they’ll be able to keep rates low during a period of high inflation. Bill Fleckenstein and others always talk about how the bond market might some day take away the printing press. I guess if you launch a big enough yield curve control program that will somewhat solve the problem. But what about nature’s discount rate, high oil prices? Wouldn’t this have a highly deflationary impact vis a vis a lack of credible borrowers and reduced consumer spending power. Will the government be cutting checks to everyone to make up for that too?
Also wonder about mortgages and other consumer loans in a ycc world. Would banks lend a mortgage at a negative rate? Or a used car loan? Because surely rates at levels near the kind of inflation we’re talking about would severely hinder growth of credit.
Great interview, though! Thanks!
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my only beef with this is that regardless of fundamentals, which are wildly bullish, oil will plummet during a recession no matter what. the time to buy oil if you believe a recession is coming is not now... oil could easily drop 50% in 6 months in such a case only to triple from there but it WILL go down in a recession make no mistake.
22$ Barrel by FEB 2024
sky is falling
👍yep, you make a fair point about timelines. If a recession hits and oil prices drop then -- after waiting -- it will be a smart time to buy. 👍
@@stuarthowe8174if that happens, I wonder who will actually have a job?
How do you buy oil?
US does not need oil from Middle East any more. US is oil exporter.
But the key is about the US dollar. The reason US kept low interest rate for so long was from its international reserve currency status. Now that status is in real danger.
What I am surprised is not discussed about the financial mess we are in is the ability of the fed gov once the system is at a breaking point, to come after our assets in some creative way. In other words, you are rich so you will be taxed much more. I believe this is the goal. The final reset.
It will be great, we can free and independent. We’ll go through upheaval and hardship but we’ll be free from the vampire system of central banks.
Look up Russel Napier's opinions on "financial repression". It is basically what you are describing.
Government ultimately cares about itself first and above all else. Any minority group can be pillaged as long as the majority believe they will benefit. I never thought I would see USA drive itself into the ground, but DC politicians are very crafty.
Drill our way back to prosperity or default.
the 29 minute mark question and answer was very interesting
What are US Electrical infrastructure equities ? Any examples? Similar to DRAX?
21:20 not just boomers. Im gen x. Ive been thinking of this also for my two boys…
Yes. Cash is king.
Thanks guys!
respect great interview
"It's not a dial anymore. It's a switch." 😳
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If you think a serious recession is coming why would you own oil?
Great investment is a commodity
Demand for Oil always goes down during a recession and this one looks to be a Global one. So Oil will go down even if OPEC cuts production other non-members will cheat forces them increase production to keep market share.
Did we go from a gold standard for the dollar to a petro standard for the dollar?
Thank you guys 😄✊
Rather than mortgage rate decreases, amortization will increase with higher rates. All anyone looks at now are monthly payments.
That is how Joe Sixpack and Sally Software has been taught to think about money. The US economy is 70% driven by the consumer and that consumer is financially illiterate.
The older generation has always had the majority of the wealth.
More so now than before. Average age for first time buyer right now is 37 and I see that going up. I was nothing like this before
@@terrillmel
Than before What? When?
Last 60/80 years?
History has much to teach about “home ownership”
This period has been an anomaly- not the rule.
Just saying......
@@johnbirman5840 so you think home ownership age will go back down. I think we're going the way of Japan. They will choose inflation at costs and future generations will own less. Wages have been falling behind asset prices since the early 80s.
If the Fed let's the US$ inflate away debt, then residential real estate will explode as people seek real assets to keep pace with inflation. With inflation, the real interest rate will go negative. Residential real estate will be frozen until nominal prices explode, but real values will be flat or slightly negative.
The productivity miracles are interesting.
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Thanks a mill boys again🙏🏻
Awesome - thanks to y'all! 👍💛
Thanks Luke. Realism works for me. Great job Adam
Always learn something. The average real rate on bonds negative early 1900 to 1992 that is amazing certainly not a way to make money!!
I didn't recognise that bond int rate has reasonable chance of actually going up so much if no- one buys their bond possible and maybe probable?
Sorry 1982
Luke Groman is one smart guy. Imo
Finally a guy whose hitting it on the head. Options are, depression, hyperinfaltion..loose loose . They will choose hyperinflation
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You can see the gears stripping in Adam's head as he's trying to think of the scale... Im right there with him. Enjoyed the interview. Ill be watching again.❤
Mr. Kelly in your opinion how much or how many more times can this happen before it really blows up? ie QE There is NO real free market.
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Equalized distribution of resources has never worked. It’s not just one big pie, rather every productive hard working individual can bake their own pie. Capitalism has brought extraordinary prosperity to the entire world. All the redistribution countries have shown us that it doesn’t work. My vote is for increased productivity through less regulation together with responsible government spending.
Most people are stupid and just believe what they see on TV ... and most of whats on TV says the oppisite of reality.
I agree. The entire 20th century was a lab experiment of capitalism vs socialism, and history clearly appointed a winner. Revisiting those socialist experiments would be ignoring some of the lessons the 20th century taught us.
History in France has taught us that stark contrast in quality of life leads to a revolution where the wealthy are killed by the masses. The social fabric will break down at some point and we are seeing riots and looting that may be a foreshadowing of what is to come unless we find ways to engage the people living at the low income level and build a pathway for them to follow that offers hope and a chance to gain skills, contribute and prosper. Handouts are not sustainable but we have AI poised to replace millions of workers. Tough situation Bidenomics.
Long bonds are where they were in 2008 but now we have 3x the debt. Suddenly it's different now?
Thank you, great video
I understand that a lot of people are terrified over deficits and debt levels, but do they ever question what would stop mercantilist nations like China from relying on exports?
Xi thinks that allowing more money to households is a total waste, so the stimulus he’s giving is mainly dedicated to expanding excess factory capacity for the export machine.
These exports have to go somewhere, and the wealthy in China are more interested in accumulating western assets than assets in BRICS nations.
Also, the “creditor” nations like China and Japan aren’t just building huge assets for a rainy day, they are also accumulating large debt levels to prop up economies which are stagnant because of their unwillingness to allow their own consumers money to spend - so they have ghost cities and wasteful government projects instead of consumer goods.
US Debt levels can go up indefinitely as long as these countries subsidize export growth over internal growth. Also, the debt levels themselves are actually deflationary - they pull future dollars out of the system - which is partly why the USD has been so strong relative to other currencies.
The time to be worried about dollar devaluation is, somewhat ironically, when debt/gdp begins to fall significantly. That’s exactly how it played out in 1950-1970.