Adam, the President has the power to sign away all of your rights with the stroke of a pen. Lincoln suspended habeas corpus for all individuals along the rail lines between Philadelphia and D.C. by proclamation to keep Washington safe. He later suspended it nationwide for ALL individuals suspected of being "disloyal" to the Union. Roosevelt suspended habeas corpus for 120,000 American citizens during WWII with executive order 9066, and later created the "War Relocation Authority" through executive order 9102 (I think), creating the department that was responsible for rounding up American citizens and putting them in concentration camps. They went in to people's homes without a warrant or charge, forcibly removed them from their homes and held them in prison for four years without trial or charge. That's what the suspension of habeas corpus means - they can throw you in a hole and forget about you. It is within the President's power, and was affirmed by both supreme courts of the time. What do you think Trump will do? And how do you think the world will react? It absolutely matters who wins, as I don't see the world letting us retain reserve currency status with that buffoon at the helm, not to mention everything else.
My parents had 4 children and my father paid into Social Security for 40 years. The money he paid into Social Security was there to take care of him when he retired. He could have used this money when the children were young as we struggled. He only lived for 10 years after he retired. So the government took a lot more than he received in his old age.
Neil is the person who filled out the concept first, back in the early 90s with his late colleague. I understand his explanation of The Fourth Turning the most, so attribute its scholarly construction mostly to him. But if you feel there are others who should be credited for parts of it, please do bring it forward so we can all learn more about The Fourth Turning.
As a Vietnam era veteran, I remember the massive chaos, violence and upheaval of that era. People in general have forgotten, and think things are worse now. Just watch a documentary about the Democratic convention in 1968; the riots following the assassination of Martin Luther King and Malcolm X, or the student riots at our universities. Add in a good long documentary on the Vietnam War, and the Civil Rights movement. Things could get much worse after the election, but so far are very tame compared to the 1960's.
@@oqualcycle that’s where I’m at every 80 years . I’ll checkout this one . I have 1946-2026 but I could be off for sure . 80 years going back to 1776. After that it gets cloudy . This is opposite of depression , this is similar to civil war
As a late wave gen -xer, I can already see how we’re always going to get screwed, and the trajectory which society is going, screwed in our youth by the (free) market system tipping things towards elderly boomers, then by the time we’re elderly, 20-30 years from now, they’ll skew back the other way towards the young!, its unbelievable!
Why is it unbelievable? The powers that be always hated you, the great/grandchildren of the greatest generation. You make them afraid. They know the cycles of history, and what happens after the war is won, and the grandchildren grow up. They tried to abort you all. When that didn’t work, after 50 years, they repealed abortion. They tried to kill you oxycontin and war. All I can say is good luck.
Hey, I paid into Social Security for 56 years so far! I still work and pay into it while I am receiving it. I have to pay income tax on it. So I expect to receive it. There is a movement or belief that is growing that boomer don’t deserve it. I believe I should get it.
I'm an 80 year old boomer with children and grandchildren who realizes Social Security is a Ponzi scheme that benefits most boomers and will result in my children and grandchildren getting a smaller proportion of what they paid in. Do I think that benefits for people like me are fair, no. What can I do and what I am doing is to provide a nest egg for our kids and also be benevolent to those less fortunate.
I agree. Social security is our money we could have invested well. Unfortunately the the gov't didn't. As a result we get less from it in our lives than we should
Bro... I am 54. I am not counting to have any of that money. Boomers screwed us again !!! By my figures I think it runs out max by 2035 but most likely by 2030. So we just paid in and paid in and paid in our whole lives for what? Last I checked I pay in thousands of dollars a month into it. I could have done much better for myself I used it for investments, trading, or shit even buying gold, silver, and BTC.
Try paying the self employed rate for social security. It's brutal. I pretty much had to buy rentals to limit my wage income . Plus the benefit of working inside when the bidding was fierce to have a warm place to work
I worked for 45 years, paid a quarter of a million dollars into the system starting back in 1971. I am simply getting the money back that I paid into social security.
62 year old here. Really appreciate my coming poverty after the promise and payments I've made all my life to Social Security, that our incompetent, corrupt Government failed at. Nothing to see here, move on.
The US Military presence overseas, is intended to support the flow of resources and cash to the US Empire. After we stop doing that the ability to get anyone to accept US Currency is doubtful.
@@dameongeppetto Tax law and all benefit programs are the job of the House of representatives. Do you understand what one of those seats cost? A Representative is low cost compared to Senators. But the ability to change tax law is the House Obligation. Us mere mortals are not allowed in Committees unless the Committee is dressed.
With regard to SSA payments to older people, being such a drain on the Federal budget, let’s not forget that most, if not all, of this expense would be covered if past political leaders had not borrowed (and never repaid their loans) from the Social Security system and its large contributions from the “older people.”
Exactly if they would’ve left all the money in an interest bearing account instead of robbing Social Security over the last 40 years there wouldn’t be a problem.
Many that had unfortunate life events that paid in all their life will be homeless and are at poverty level now living on this stipend. Especially women over 50 a demographic that has a high homeless rate right now.
Taggart's got the best show going. His guests are one of a kind and his format for questioning is incredibly unique, considerate, and directly in-tune with subject matter. I don't watch anything over 15 minutes, and this show is consistently worth an hour in a world where we're constantly itemizing time into money.
Regarding the WWII-era GI Bill of Rights, FDR and the other politicians were concerned about having millions of trained killers returning home from war and not being able to get a good job. Going to college for four years gave them something to do and prepared them for getting a career. Being able to buy a small house gave the vets a stake in the country.
But that's not the way Neil and his generation (Boomer prophets) saw it. They believed it was unfair that the hero's (GI generation) were "gifted" a college education, a house, and lifetime medical benefits (to vets with disabilities).
They were enlisted, drafted to war. They did a job they had to do for their country. The GI Bill was the government’s reward for the returning soldiers/sailors/marines for their service to defeat Hitler, Tojo and Mussolini. They weren’t “killers.” In fact, most of them wouldn’t even talk about their experience to anyone after they returned home. They only wanted to live life - after having done their job.
Gifts between private citizens are taxfree in many countries. Even large gifts. Tips are gifts. You could easily have a cap on gifts from corporations to employees, which is treated differently in accounting and in reporting to the IRS. It’s not necessarily a problem, Neil.
Exactly, you can see he never worked for tips! Neil has a racket peddling crap. Good part is the warnings. His solution sucks. Executive orders from Kamala does not make any difference. Poppycock!
Adam, no need to panic (yet) but you need to know that a sub sandwich is lurking behind you and is ready to make you the protein portion of it. I'd be filling my pants if I were you.
The strategy of following Trump may be a good one, but anybody who believes in her price controls and knows anything about history, economics knows that this would be a disaster!
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I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Jane Nina Pickett who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
According to an article I read: The Social Security fund was poorly managed - invested in zero-interest treasury bonds. If it had been invested in the stock market, it wouldn’t be going bankrupt. Boomers were required to pay into the system. It’s not their fault that the funds were poorly managed. We will need immigrants to replace declining birth rates and to start paying into the Social Security.
I believe the FED will not allow the S&P to fall in any significant way. The equities markets are what the broad public focuses on and the FED, of course, knows this. Incredibly, the markets are up 45% in just two years! This, while the majority population faces higher prices for the essential goods needed to live. We're in an upside down situation as a nation.
Are we at risk of a generational war? We're not at risk Adam, we're in one. It just doesn't feel that way to somebody from your generation because the younger generation hasn't hit back yet.
The war started with Reagan cutting taxes and increasing borrowing. That is simply giving money to the current generation at the expense of the next. The war started before I was even born. The natural and inevitable response from those impoverished by these policies is to vote in somebody that will impoverish everybody.
@@standinginthegap7118 Unfortunately their form of fighting back will be to vote for a government that will force people to pay the taxes they should have been paying for the past 40 years, and it could break the US
As long as the US can provide Toys and Games to amuse the Population, the Citizens will not rebel. If the flow of cheap crap were to cease, the Youth would revolt. The fact that other Folks Kids are dying in Ukraine and Israel, keeps Americans from asking questions. 50,000 US Deaths do appear to inspire some protest.
Adam and Neal I think the world of both of you, but I feel betrayed that 2 Very Rich Gentleman (10%ers) are staying the lower 50% of the population should take a haircut on Social Security/ Med
I think Neil is saying EVERYONE is going to need to participate in the tough medicine required to return to an economically sustainable path. That there are no pain-free options left at this late date.
@@adam.taggart Somehow, it seems to turn out as socialism for the wealthy and austerity for everyone else. This interview went a bit too maga, so I cut out at 43:00.
Grandparents and great grandparents always said if you can’t take care of your home and yourself you can’t take care of anybody else. They always told us pay your bills food you can always find.
they already make half of what private industry jobs make on a job by job career by career basis. now you want to take away their paltry pension after it was already cut once (changing to FERS was a massive cut). why don’t you sod off.
One criticism I do have of the conversation is that the events of a ‘Fourth Turning’ are not simply going to be about restructuring Social Security. Millions of Americans greatly depend on medicare and social security ( they paid into ) and I think the outcomes and effects of any significant social upheaval will not simply be about reducing benefits for seniors ! This was mentioned several times and I think changes to these benefits will only be one piece of far ranging problems and calamities.
It's going to run out max 2035 but more likely 2030. What about folks that are say mid 50s that paid into it their whole lives that will never see on red cent?
Social Security isn't a re-distribution of wealth. People had money taken out of their paycheck every payday. Not sure why Neil Howe is proprogating this mis-conception.
Because the money paid in is almost gone. Once it’s used up social security will come directly from the paychecks of the young to give to the old…. That’s the very definition of redistribution
It's not a redistribution of wealth? Example: Over a career someone contributes $100,000 from paychecks, but received $150,000 in SSDI before death. The extra $50K (in part) comes from other workers who contributed but have not collected yet. That is re-distribution of wealth. Another Example: A child suffers from a chronic disability (cyctic fibrosis, cancer, etc). The parent is within an income bracket that allows the child to qualify for SSDI. The family collects SSDI benefits to offset costs of care. The child (under 18) has never worked , never had payroll deductions but receives benefits. This is a re-distribution of wealth. In both examples, I don't disagree with the use of funds, however the government hands out more money than they have. Which is why they continue to borrow from future generations to pay for today.
Everyone keeps tossing around the idea that we may have a civil war and no one seems to remember what happened the last time we had taxation without representation; today we have no representation.
That's just not true. People that have limited government inclinations do not get represented. But the majority of voters are getting exactly what they've been clamoring for: bigger government and more spending without their taxes raised to pay for whatever the heck it is they've wanted. They claim to love their children but they will leave their children & grandchildren completely hosed.
worse we have bailouts, bail ins, etc and then Trump cut taxes, which mostly helped the rich. Biden jumped on with stimis and the green act. This all caused inflation to rage helping the rich even further. It doesn't matter anymore who wins ... they are both on the rich's payroll.
I concur no one knows what a civil war would be Bureaucrats are not your friends. Those who govern least govern best' Get some sound money and a dirty man safe. Seems we are having a ground war in Colorado against civilians happening now.
OMG!!...Ha....okay....keep your diaper on .because...you are going to need it...planetary overshoot..is coming for you ...well..all of us .but...looks like you will get a surprise
We are a Constitutional Republic, NOT a Democracy. The word 'democracy' is NEVER mentioned neither in the Declaration of Independence nor in the US Constitution.
We are a representative democracy. Why say we are not? Just to "own" democrats? When the republican party successfully blocks votes from getting certified in November, then you can say we are not a democracy.
Are we now condoning Oligarchy? Who decides on the names on a Ballot? Who pays the Voting Machine Producers to deliver the results desired? If You want to believe in the Constitution, then honor the intent of those who wrote it. We declared independence from the British Colonial Empire. Do you support the exploitation of other Nations?
We are always in a class war. The working class must constantly fight for fairness in the economy and the law. It's a constant battle to maintain any semblance of equality and balance of power.
Generosity to old people? What I will get in return for being forced to pay my money into the system is pitiful and then they want to tax it on top of it. Didn't I pay taxes on that when I earned it ? How about stop spending our tax dollars on people who just walked into the Country? That would greatly help the old people and Americans in need in general. I tire of hearing how the elderly of this Country are a drain on a system we didn't create nor had a choice to participate in. Cut me a check for everything I paid into SS and end the program for all I care.
Two well off men telling us we should take a cut on SSI. Let's cut in half 900 billion military, 700 billion education, billions we're spending on illegals and welfare programs.
These two white guys are completely clueless they think they're just going to waltz through the forth turning which is actually a contraction of American power. I really don't think it's going to be a cakewalk.
Right? The very thing we pay into a as a delayed reward for ourselves and they can't talk about the bloated spending of the military industrial complex or the continual expansion of bureaucracies. Why is Fauci the highest paid federal employee? Such nonsense. All of it.
My dad was born in 1928 in Europe and died here i9n 2021so I think that he saw almost all 4 turnings, I born in the late 60 will likely see as much, but I have a haunting feeling that I will not survive the 5th.
Neil Howe is one of the most powerful minds today. As a demographer and historian, he believes that in order to predict the future, we should study the past. And every 80 years this happens, because the people who were in crisis are gone and their lessons are being forgotten.
There is something in the air. It's getting worse here post the election. People are openly expressing distain for their fellow Americans or outright apathy and despair. Suppressed anger is bubbling up and interactions are becoming hostile. On top of the breakdown in human interaction, more local businesses are closing and people are losing jobs. I fear this country is indeed in the midst of some kind of upheaval. It's showing up first in the trenches, but I doubt it will stay down here.
Not sure if I agree with Neil that ANYONE could be a leader during crisis bc circumstances will dictate outcomes. I believe the PERCEPTION of weakness could make outcomes much worse. It may not make things better, but it definitely could make things worse.
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One of the things that Howe does not mention when he talked about women not having children, is the fact that secure, legal immigration will solve much of the problem. Immigrants will work, pay taxes, and then we'll have children who will become working engage and add to our economy… Helping to pay for Social Security and Medicare for old folks.
As much as I admire so much of Neil's work and find it compelling, and these general historical/economic patterns certainly are well-established, when he verbalizes the idea that there are two parts of America who don't agree on anything, that is at best blind, and at worst, exaggeratedly (and likely self-interestedly) misleading. I'm sorry and disappointed to be saying that; I almost never post anything online, and maybe he was being too glib. Yes, the two party-controlled subcultures (or at least the most vocal parts of them) appear to be oil and water (and even some of my relatives find it hard to even speak to each other due to so-called "political differences"), but to assert that this is the state of the US is to ignore every real person and neighbor out there who actually cooperate and commiserate and celebrate and respect each other's right to free speech and thought. I plead with anyone who makes it this far into my "rant": avoid extreme views, resist corporate control of our country, don't let commercial interests (which are EVERYWHERE) sway you, and above all, be compassionate! S$S
He's actually correct. We have Populists vs Aristocracy. One controls all the rural areas, farms, has kids, masculine, patriarchal, etc. The other live in cities, have degrees, control the bureaucracies and mega-corporations, no kids or kids with no dad, feminine, communal, etc. We've had 70 years of a sex war, 15 years of a culture war, and now they want a war on guns and free speech. We almost had a civil war over the border with Texas and 10 other states that vowed to support them militarily. One big powder keg if you ask me.
Thank you for posting this. I think Adam appreciates people who think for themselves and are thoughtful consumers of information. This guy is treated too much like a guru, which sets off red flags for me.
@@jenjones8353 Neil Howe's conversation with Danielle DiMartino Booth back in January was disgusting, even more so now in light of recent events. Howe was gleeful contemplating Trump's "mortality." I'll never watch another interview with him.
Minute 51….incorrect implication. There were times my stupid 401k got totally destroyed because there were NO options of bonds, or fixed options. My hard work had to,take a huge hit. Then I got smart and put my money in a do it yourself platform ( think Fidelity, Schwab, former Ameritrade). I have made double,digit returns for years now, and I DO se nods and CDs when I feel the need. It another LIE in corporate America to just leave your money in the market all the time for the long run.
Exactly. Howe was easily duped by the fascists when they put forward an amnesty bill and called it a border bill. You know with 100 percent certainty that all bills from the fascist Democrat party do the exact opposite of the name of the bill.
@@danielhutchinson6604apparently its not hard. According to the left, massive deportation will cause a rise of prices suggesting goods are being produced by the undocumented
Fascism and Socialism is the same thing. The only difference might be that Fascists wore uniforms. Other than that, same thing. Hitler himself said emphatically "I am a socialist"
AT 37:00, Neil mentions Bi-Partisan Border bill. There was NO Bi-partisan border bill. Only 1 GOP Senator supported it. Bi-Partisan by definition has to have more than 50% membership of a bill supporting it to be bi-partisan. Plus, the bill was called a border bill but it was just another Democrat trick to title a bill differently than what it actually does. For example, Inflation Reduction Act.
@@darrenmogg3440 My Facts are correct. 1, It would of allowed more Illegals in. 2. The vast majority of Republicans were against it. Dem's talking points say it was bi partisan. it was not. It was just typical politicians lying like they all do. Both parties lie. It is just the Dems control the media and get away with it.
@@darrenmogg3440 My facts are correct. 1. It was not bi-Partisan. The vast majority of Republicans opposed it even before it reached the floor. 2. The House had already sent H.R. 2 a strong border bill to the Senate and Schumer never took it up. To call it Bi-Partisan was just typical Political lying. Both sides lie but the Dems get away with it more because the Media leans left.
I really appreciate all of Mr. Howe's perspectives, and especially his command of history and its potential relevance to our current situation. The one thing that I wish he would address that is different now than any other time in history is the global threat of climate change. Perhaps you could ask him about that the next time you interview him.
It's impossible for young families to save unless they live with grandparents and they provide all childcare... which isn't possible or desirable for most. Bills are too high. And if we can't save, how can we retire?
More Neil please. His historical references are interesting and he has good insights into the modern macro environment. I have read his books but it's entertaining to hear his thoughts in an unscripted format.
@@sandblast5636 We spend an order of magnitude too much in the military category, and what do we get for it? We cannot beat the Houthis to re-open shipping to the Suez We cannot supply the Ukrainian war with artillery shells Our air defense systems top out at the Patriot, which is enormously expensive and unable to deal with modern drone swarms If you continue to increase military spending you'll simply be going into debt for the benefit of giant military contractors without any benefit to battlefield operations. Whatever the future holds, it will include deep cuts to military spending because that is the lion's share of the waste.
@@0x4A6566204B The Pentagon Audits seem to illustrate the corruption that has been a part of the Military Industrial Complex for the last 40 years. If funds were not assigned to "Undisclosed Locations" the weapons might be adequate to maintain an American Empire. The question you need to ask is, "Are we supposed to operate a Colonial Empire? Was the Documents that formed the USA in the first place, clearly defining the need to act as if we do not enjoy Colonial Exploitation by other Nations. So if we become a Colonial Empire to ensure our Commercial success, are we not acting in a manner contrary to principals that established the Nation?
Tax trades in Wall Street casino and do not touch SS! Tax the rich to the same level as middle class (not 15% for LLCs). Both parties are corrupted -prohibit donations from corporations. Reduce corruption at DOD. These simple steps would never be spoken by these gentlemen. They belong to financial oligarchy.
You’re opening statement in my opinion is totally correct: Massive resentment by the younger generation towards the Boomers. Here’s a conversation I had a couple of years ago: Talking to a 20 something manager he made this astounding comment: “We’re just waiting for you Boomers to die...then we’re going to fix the world” After picking up my jaw I replied” By the time I’m dead...you’ll be my age.( early 60s) Why don’t you start fixing the world now!” The younger generation doesn’t realize that our generation weren’t born “rich” we worked very hard under just as difficult circumstances as they are. Try a 10.5% mortgage and 15+% Inflation as 1976 had. But this resentment: I don’t remember having this level of resentment to 60+ year olds when I was in my 20s. Sure they had more, but I had youth, and time, and energy. And I wanted to do it myself! I didn’t care what others had. I thought if they did it, maybe I can too.
Mid 50's. I started a side gig at night to pad my retirement account and all I hear is what a great preformer I am. It's like they all saw Sasquatch and a UFO all at the same time. Bottom line is they may show up but their not going to work.
Why does the US need such a huge military? Why not cut that? Why cut SS? We were forced to pay and now we will be forced to relinquish the benefits? Outrageous
There is just something about labeling and classifying groups that makes and keeps division going. Whether its the generational labeling; gen x, gen z, boomer, etc or woke idenities or political party idenity...it is all the same, just superfical differences that are meaningless and devisive. It won't be until we can see how we are truely the same and have a shared idenity that runs much deeper then these superfical differences, that we will be able to move on and make progress. Until then we stay stuck. Unfortunitly, in my humble opion, I think Neil Howe adds to the problem. Let's start talking about how we are the same, talking about our shared experiences as human beings all in the same shared human family!
News flash: no pockets in shrouds' raise death taxes and capitals gains on inheritances close the loop holes and old people either spend their wealth or the government takes it. Job done as in Japan :)
Millennial investor here. I am taking the Gen X tactic of untethering from the life raft flotilla. So far...I'm being circled by sharks. International funds, Russel 2000, "value" funds, industrials and financials. All are sucking. Anything not US mega cap growth tech is sucking. At least I don't have to compete against the US government to buy assets, but at the same time, I'll never be able to sell my assets to the US government.
Here is some value: The fed couldn't generate enough inflation following quantitative easing 1,2,3, or 4. Money creation can only go so far in a capitalist society (as this is typically deflationary). You need to sever the supply chain, like what happens during pandemics and war, to produce the required inflation (inflation is needed to avoid the deflationary). Without a severing of the supply chain, asset inflation would not have occurred like it did, and you can already see the inflation completely removed from things like lumber and oil. The fed has learned that "forward guidance" is actually more important than interest rates themselves, as expectations guide consumer and market behavior (i.e. how the market behaved following the release of the dot plot). Some of these mega cap companies consumed huge quantities of cheap debt at low rates and have been able to drive their stock prices up and sock away additional cash for investors and for rainy days. I tend to believe we will see shallow market corrections, unless large investors all start selling the same stocks at the same time, which is highly possible. Also, politics is theater for fools and exposure should be restricted to reviewing legislation and potential laws passing through congress. The masses need more education from intellectuals who see beyond the "data" (as if even revised numbers are true haha), who actually understand what is happening, and fewer echo chamber economists. Do people actually believe the fed wants to reduce inflation? The only time they want that is when it becomes too noticeable too quickly. There's a reason 99% of people are the 99%...
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We need to implement means tested Social Security. And I say that as a 59-year-old who might get dinged by it. I know people think of it as a retirement account but it's really tax. We may end up having no choice if Neil is right.
yes, we may be spending on old people but they are the ones who paid into social security for themselves. So pretty much it is their own money that govt. spends.
Social Security was great in the beginning and sounded great until it wasn't. Now most of us Gen X and younger may never see (or at least slashed benefits) it due to the incompetentency of its management and how the money is being spent. Neil is right. Whoever is in charge doesnt really matter because most Americans will look to government to save them, when it was government that created the problem. History kepts repeating itself doesn't it?
One thing "we" could do is cut Wall Street out of the health care business. And there are many other things "we" can do to shift the stigma of being 65yrs old and over to the stigma of "How much are you corporations, banks and investment groups gouging from the public?". You ever notice these types of conversations never address this part of the equation? Hmm
His analysis of our military readiness indicates we are planning to lose the wars in which we are participating around the world. Debt forgiven. Problem solved.
Sounds like "Bail out the Regime from itself, then rebuild with the young people who are left". There goes anyone retiring now, lives thrown away. Good realistic discussion.
Neil Howe is a wealth of knowledge on an even keel! The Fourth Turning is here! Otherwise known as the plutonium era of death, alchemy and rebirth. V little anxiety here. That’s what happens when your born a gen x Scorpio. Looking forward always to the day Neil comes back on. Truly can listen for hours. Want to menrion again, Adam, it would be phenomenal to see David Murrin, Global Forecaster, come on your show. He talks about many of these same civilizational cycles with a distinct nod to what Neil mentioned there at the end.
His verbiage is not very concise. A great number of people care about Kamala’s lack of qualifications, and the fact that the person who was allegedly elected is not running the government. I would also say that voting for an R or a D because you dislike the other candidate is not actually “engagement”.
Why is it so few seen to understand how social security works? Your payments whilst you work are not invested on your behalf to grow untii you come to draw on it. The payments you make are paying the benefits drawn today, we are all relying on there being enough people working and paying in when our turn comes round. The problem is that fewer and fewer people are working, and the birrh rate is too low, couple that with AI and robotics taking jobs and you can see the problem we face with the current funding model
I loved Neal's point about the redistribution of wealth is from young to old and that there are less and less young people to feed into that. Also, that Kamala needs to attach a note with the baby bonus that those babies will have to pay for that plus interest in the future! Great talk!
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Adam, the President has the power to sign away all of your rights with the stroke of a pen. Lincoln suspended habeas corpus for all individuals along the rail lines between Philadelphia and D.C. by proclamation to keep Washington safe. He later suspended it nationwide for ALL individuals suspected of being "disloyal" to the Union. Roosevelt suspended habeas corpus for 120,000 American citizens during WWII with executive order 9066, and later created the "War Relocation Authority" through executive order 9102 (I think), creating the department that was responsible for rounding up American citizens and putting them in concentration camps. They went in to people's homes without a warrant or charge, forcibly removed them from their homes and held them in prison for four years without trial or charge. That's what the suspension of habeas corpus means - they can throw you in a hole and forget about you. It is within the President's power, and was affirmed by both supreme courts of the time. What do you think Trump will do? And how do you think the world will react? It absolutely matters who wins, as I don't see the world letting us retain reserve currency status with that buffoon at the helm, not to mention everything else.
Just wow
My parents had 4 children and my father paid into Social Security for 40 years. The money he paid into Social Security was there to take care of him when he retired. He could have used this money when the children were young as we struggled. He only lived for 10 years after he retired. So the government took a lot more than he received in his old age.
The system is banking on death but it may get more of that than expected ! Also robots are not consumers !
That was the plan all along. Now we are only 2/3 aged or less when we retire and we don’t start making money until we are 25.
Mine collected for 25 years.
Not for the Aged but for bureaucracy and mil industrial and Overseas Adventures and Thuggery !
Before we agree to spend more on defense, can we figure out where all the missing Pentagon money went???
I heard all records related to the missing $2T of Defense spending were destroyed at the Pentagon on 9/11/2001. Probably a “conspiracy theory”.
Never gonna to happen.
No.
Defense of the USA or defense of Israel and Ukraine?
Ask Biden and Harris
Thank you! Neil Howe isn't the only person speaking about these cycles, however he is one of the key ones! Always great guests on this program.
democrat
Neil is the person who filled out the concept first, back in the early 90s with his late colleague. I understand his explanation of The Fourth Turning the most, so attribute its scholarly construction mostly to him. But if you feel there are others who should be credited for parts of it, please do bring it forward so we can all learn more about The Fourth Turning.
As a Vietnam era veteran, I remember the massive chaos, violence and upheaval of that era. People in general have forgotten, and think things are worse now.
Just watch a documentary about the Democratic convention in 1968; the riots following the assassination of Martin Luther King and Malcolm X, or the student riots at our universities. Add in a good long documentary on the Vietnam War, and the Civil Rights movement.
Things could get much worse after the election, but so far are very tame compared to the 1960's.
Check out The Oqual Cycle that tells it all like never before with a systematic calendar spanning a periodicity of exactly 84 years,
@@oqualcycle that’s where I’m at every 80 years . I’ll checkout this one . I have 1946-2026 but I could be off for sure . 80 years going back to 1776. After that it gets cloudy . This is opposite of depression , this is similar to civil war
I'm glad you made this video, it reminds me of my transformation from a nobody to good home, $50k biweekly and a good daughter full of love..
Please how?
Am a born Christian and sometimes I feel so down 😭 of myself because of low finance but I still believe God 😞
It's Cora James doing she's changed my life. A BROKER- like her is what you need.
$150K monthly is something you should feel differently about....
Lovely! I enjoyed it like I enjoy a $100k monthly around the turn!!!
As a late wave gen -xer, I can already see how we’re always going to get screwed, and the trajectory which society is going, screwed in our youth by the (free) market system tipping things towards elderly boomers, then by the time we’re elderly, 20-30 years from now, they’ll skew back the other way towards the young!, its unbelievable!
Why is it unbelievable? The powers that be always hated you, the great/grandchildren of the greatest generation. You make them afraid. They know the cycles of history, and what happens after the war is won, and the grandchildren grow up. They tried to abort you all. When that didn’t work, after 50 years, they repealed abortion. They tried to kill you oxycontin and war. All I can say is good luck.
Hey, I paid into Social Security for 56 years so far! I still work and pay into it while I am receiving it. I have to pay income tax on it. So I expect to receive it. There is a movement or belief that is growing that boomer don’t deserve it. I believe I should get it.
I'm an 80 year old boomer with children and grandchildren who realizes Social Security is a Ponzi scheme that benefits most
boomers and will result in my children and grandchildren getting a smaller proportion of what they paid in. Do I think that benefits for people like me are fair, no. What can I do and what I am doing is to provide a nest egg for our kids and also be benevolent to those less fortunate.
I agree. Social security is our money we could have invested well. Unfortunately the the gov't didn't. As a result we get less from it in our lives than we should
I believe you are not alone! Many of us paid lots into this program and it is not a benefit - it should be a right!
Bro... I am 54. I am not counting to have any of that money. Boomers screwed us again !!! By my figures I think it runs out max by 2035 but most likely by 2030. So we just paid in and paid in and paid in our whole lives for what? Last I checked I pay in thousands of dollars a month into it. I could have done much better for myself I used it for investments, trading, or shit even buying gold, silver, and BTC.
Try paying the self employed rate for social security. It's brutal. I pretty much had to buy rentals to limit my wage income . Plus the benefit of working inside when the bidding was fierce to have a warm place to work
I worked for 45 years, paid a quarter of a million dollars into the system starting back in 1971. I am simply getting the money back that I paid into social security.
so true - except - the governments you elected used that money to fund tax cuts for the rich. THAT is where the problem began, and continues
Couldn’t agree more I’ve been paying upward of 30+ percent my entire career all but 4 years.
The government is stealing from everyone it's a ponzi scheme, the last to invest get nothing though.
Investing that money would pay you much more.
@@Anne-LiseH. Maybe
62 year old here. Really appreciate my coming poverty after the promise and payments I've made all my life to Social Security, that our incompetent, corrupt Government failed at. Nothing to see here, move on.
If the USA quit sending our $$$ overseas, then there would be NO problem paying for Social Security / Society
The US Military presence overseas, is intended to support the flow of resources and cash to the US Empire.
After we stop doing that the ability to get anyone to accept US Currency is doubtful.
And letting the whole planet take part in those social programs while within the border
That would be great, but it's not enough to pay for a massive welfare state. There's no magic wand to fix us.
Remove the income cap on social security taxes and all of the funding issues go away.
@@dameongeppetto Tax law and all benefit programs are the job of the House of representatives.
Do you understand what one of those seats cost? A Representative is low cost compared to Senators.
But the ability to change tax law is the House Obligation.
Us mere mortals are not allowed in Committees unless the Committee is dressed.
With regard to SSA payments to older people, being such a drain on the Federal budget, let’s not forget that most, if not all, of this expense would be covered if past political leaders had not borrowed (and never repaid their loans) from the Social Security system and its large contributions from the “older people.”
Exactly if they would’ve left all the money in an interest bearing account instead of robbing Social Security over the last 40 years there wouldn’t be a problem.
AMEN… so we want to keep this regime we have.
Just like they do in Chile… we are way too smart to learn from a small country.
Just like they do in Chile… we are way too smart to learn from a small country.
Many that had unfortunate life events that paid in all their life will be homeless and are at poverty level now living on this stipend. Especially women over 50 a demographic that has a high homeless rate right now.
Taggart's got the best show going. His guests are one of a kind and his format for questioning is incredibly unique, considerate, and directly in-tune with subject matter. I don't watch anything over 15 minutes, and this show is consistently worth an hour in a world where we're constantly itemizing time into money.
Enjoyed this episode greatly!!!However Howe neglects the environmental factor--there is healthy economy without a healthy natural environment!!!
Ahh thank you for getting Neil back!!
You give us what we want!!
Thank you both, I really enjoyed listening to Neil's analysis !
Regarding the WWII-era GI Bill of Rights, FDR and the other politicians were concerned about having millions of trained killers returning home from war and not being able to get a good job. Going to college for four years gave them something to do and prepared them for getting a career. Being able to buy a small house gave the vets a stake in the country.
But that's not the way Neil and his generation (Boomer prophets) saw it. They believed it was unfair that the hero's (GI generation) were "gifted" a college education, a house, and lifetime medical benefits (to vets with disabilities).
Only a small percentage of ww2 GI went to college of my six uncles only One went to college
My dad was not a trained killer he was a water tender third class usn
They were enlisted, drafted to war. They did a job they had to do for their country. The GI Bill was the government’s reward for the returning soldiers/sailors/marines for their service to defeat Hitler, Tojo and Mussolini. They weren’t “killers.” In fact, most of them wouldn’t even talk about their experience to anyone after they returned home. They only wanted to live life - after having done their job.
It was a brilliant policy.
Thanks for interviewing Neil Howe. Great interview. I really enjoyed it
Gifts between private citizens are taxfree in many countries. Even large gifts. Tips are gifts. You could easily have a cap on gifts from corporations to employees, which is treated differently in accounting and in reporting to the IRS. It’s not necessarily a problem, Neil.
Exactly, you can see he never worked for tips! Neil has a racket peddling crap. Good part is the warnings. His solution sucks. Executive orders from Kamala does not make any difference. Poppycock!
Warning: Common sense has been detected in this interview.
Adam, no need to panic (yet) but you need to know that a sub sandwich is lurking behind you and is ready to make you the protein portion of it. I'd be filling my pants if I were you.
@@ridethecurve55
I'm sure Adam is pretty proud of the piece of art he uses as his background.
All I detected was a terminal case of TDS
@@ridethecurve55 😂 But isn't it just two peices of rough sawn timber logs with some weird green fake moss and led lighting?
Neil is always amazing to watch. The depth and breadth of his knowledge is amazing. Looking forward to seeing his writings on Substack.
The strategy of following Trump may be a good one, but anybody who believes in her price controls and knows anything about history, economics knows that this would be a disaster!
I've said many times that we need a new Constitutional Congress ASAP.
Ever and always, PHENOMENAL insights from Neil. TY!
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I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Jane Nina Pickett who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I found her outstanding and excellent resume when I made a research of her full names online. I count it a gift that I went over this remark.
According to an article I read: The Social Security fund was poorly managed - invested in zero-interest treasury bonds. If it had been invested in the stock market, it wouldn’t be going bankrupt.
Boomers were required to pay into the system. It’s not their fault that the funds were poorly managed.
We will need immigrants to replace declining birth rates and to start paying into the Social Security.
I believe the FED will not allow the S&P to fall in any significant way. The equities markets are what the broad public focuses on and the FED, of course, knows this. Incredibly, the markets are up 45% in just two years! This, while the majority population faces higher prices for the essential goods needed to live. We're in an upside down situation as a nation.
That last question was a great one! Really enjoyed this video. I agree with Neil's reason for optimism. Thank you!
Are we at risk of a generational war? We're not at risk Adam, we're in one. It just doesn't feel that way to somebody from your generation because the younger generation hasn't hit back yet.
The war started with Reagan cutting taxes and increasing borrowing. That is simply giving money to the current generation at the expense of the next. The war started before I was even born.
The natural and inevitable response from those impoverished by these policies is to vote in somebody that will impoverish everybody.
Well spoken. Older people don’t think the younger generations will ever take up for themselves
@@standinginthegap7118 Unfortunately their form of fighting back will be to vote for a government that will force people to pay the taxes they should have been paying for the past 40 years, and it could break the US
As long as the US can provide Toys and Games to amuse the Population,
the Citizens will not rebel.
If the flow of cheap crap were to cease, the Youth would revolt.
The fact that other Folks Kids are dying in Ukraine and Israel,
keeps Americans from asking questions.
50,000 US Deaths do appear to inspire some protest.
Beyond a generational war, it is a class war.
Adam, you are truly thoughtful! thank you for breaking it down into easy to understand terms!!!!!!!!!!!!!!!!
Adam and Neal I think the world of both of you, but I feel betrayed that 2 Very Rich Gentleman (10%ers) are staying the lower 50% of the population should take a haircut on Social Security/ Med
I agree.
I think Neil is saying EVERYONE is going to need to participate in the tough medicine required to return to an economically sustainable path. That there are no pain-free options left at this late date.
There is absolutely a way to cut government spending to prevent having to take the dollars that people put into their social security!
@@threemonkeys5441Sadly, the power brokers and other elites will decide what works best for their power or pocketbooks.
@@adam.taggart Somehow, it seems to turn out as socialism for the wealthy and austerity for everyone else. This interview went a bit too maga, so I cut out at 43:00.
In America it has saddens me that it has come to: It is not who you vote FOR it’s who you vote AGAINST
been that way since israel murdered JFK (who wanted them to stop nuclear weapon development at Dimona)
Grandparents and great grandparents always said if you can’t take care of your home and yourself you can’t take care of anybody else. They always told us pay your bills food you can always find.
What about haircuts for public sector pension retirements?
they already make half of what private industry jobs make on a job by job career by career basis. now you want to take away their paltry pension after it was already cut once (changing to FERS was a massive cut). why don’t you sod off.
I've seen Neil a number of times and this is by far the best interview, Adam brought out the best in him !!
One criticism I do have of the conversation is that the events of a ‘Fourth Turning’ are not simply going to be about restructuring Social Security. Millions of Americans greatly depend on medicare and social security ( they paid into ) and I think the outcomes and effects of any significant social upheaval will not simply be about reducing benefits for seniors ! This was mentioned several times and I think changes to these benefits will only be one piece of far ranging problems and calamities.
We didn't just pay into it - we paid for it!
It's going to run out max 2035 but more likely 2030. What about folks that are say mid 50s that paid into it their whole lives that will never see on red cent?
Social Security isn't a re-distribution of wealth. People had money taken out of their paycheck every payday.
Not sure why Neil Howe is proprogating this mis-conception.
Because the money paid in is almost gone. Once it’s used up social security will come directly from the paychecks of the young to give to the old…. That’s the very definition of redistribution
@@standinginthegap7118That is not re-distribution. That is theft in a similiar manner as pensions.
Agree with you - strongly.
I and my employer paid into ss for 45 years in my account
It's not a redistribution of wealth? Example: Over a career someone contributes $100,000 from paychecks, but received $150,000 in SSDI before death. The extra $50K (in part) comes from other workers who contributed but have not collected yet. That is re-distribution of wealth.
Another Example: A child suffers from a chronic disability (cyctic fibrosis, cancer, etc). The parent is within an income bracket that allows the child to qualify for SSDI. The family collects SSDI benefits to offset costs of care. The child (under 18) has never worked , never had payroll deductions but receives benefits. This is a re-distribution of wealth.
In both examples, I don't disagree with the use of funds, however the government hands out more money than they have. Which is why they continue to borrow from future generations to pay for today.
Everyone keeps tossing around the idea that we may have a civil war and no one seems to remember what happened the last time we had taxation without representation; today we have no representation.
Communism is essentially feudalism and socialism is its opiate
That's just not true. People that have limited government inclinations do not get represented. But the majority of voters are getting exactly what they've been clamoring for: bigger government and more spending without their taxes raised to pay for whatever the heck it is they've wanted. They claim to love their children but they will leave their children & grandchildren completely hosed.
worse we have bailouts, bail ins, etc and then Trump cut taxes, which mostly helped the rich. Biden jumped on with stimis and the green act. This all caused inflation to rage helping the rich even further. It doesn't matter anymore who wins ... they are both on the rich's payroll.
I concur no one knows what a civil war would be Bureaucrats are not your friends. Those who govern least govern best'
Get some sound money and a dirty man safe. Seems we are having a ground war in Colorado against civilians happening now.
@@bobbiecrider6964 That's until the state moves in to protect those PRESCIOUS undocumented residents taking over apartment complexes.
I wish we could combine the analysis of Howe and Whitney Webb who exposes government as essentially being an organized crime racket.
Ms. Webb is far from the only individual who makes that observation.
OMG!!...Ha....okay....keep your diaper on .because...you are going to need it...planetary overshoot..is coming for you ...well..all of us .but...looks like you will get a surprise
they’re already combined-both work for soviet interests.
We are a Constitutional Republic, NOT a Democracy. The word 'democracy' is NEVER mentioned neither in the Declaration of Independence nor in the US Constitution.
We are a representative democracy. Why say we are not? Just to "own" democrats? When the republican party successfully blocks votes from getting certified in November, then you can say we are not a democracy.
It’s both/and, not either/or. A constitutional republic is one form of democracy.
Are we now condoning Oligarchy?
Who decides on the names on a Ballot?
Who pays the Voting Machine Producers to deliver the results desired?
If You want to believe in the Constitution,
then honor the intent of those who wrote it.
We declared independence from the British Colonial Empire.
Do you support the exploitation of other Nations?
@@danielhutchinson6604 Who decides on the names on a Ballot? The party round table.
@@sdrc92126 The Majority Investors,
they are the Guys who also make the vote counting machines.
We are always in a class war. The working class must constantly fight for fairness in the economy and the law. It's a constant battle to maintain any semblance of equality and balance of power.
Generosity to old people? What I will get in return for being forced to pay my money into the system is pitiful and then they want to tax it on top of it. Didn't I pay taxes on that when I earned it ? How about stop spending our tax dollars on people who just walked into the Country? That would greatly help the old people and Americans in need in general.
I tire of hearing how the elderly of this Country are a drain on a system we didn't create nor had a choice to participate in.
Cut me a check for everything I paid into SS and end the program for all I care.
Two well off men telling us we should take a cut on SSI. Let's cut in half 900 billion military, 700 billion education, billions we're spending on illegals and welfare programs.
These two white guys are completely clueless they think they're just going to waltz through the forth turning which is actually a contraction of American power. I really don't think it's going to be a cakewalk.
Right? The very thing we pay into a as a delayed reward for ourselves and they can't talk about the bloated spending of the military industrial complex or the continual expansion of bureaucracies. Why is Fauci the highest paid federal employee? Such nonsense. All of it.
Wow, this was one of the better interviews on the channel in recent months for me. Great stuff.
My dad was born in 1928 in Europe and died here i9n 2021so I think that he saw almost all 4 turnings, I born in the late 60 will likely see as much, but I have a haunting feeling that I will not survive the 5th.
Neil Howe is one of the most powerful minds today. As a demographer and historian, he believes that in order to predict the future, we should study the past. And every 80 years this happens, because the people who were in crisis are gone and their lessons are being forgotten.
His mind is infected with a powerful case of TDS
There is something in the air.
It's getting worse here post the election. People are openly expressing distain for their fellow Americans or outright apathy and despair.
Suppressed anger is bubbling up and interactions are becoming hostile.
On top of the breakdown in human interaction, more local businesses are closing and people are losing jobs.
I fear this country is indeed in the midst of some kind of upheaval. It's showing up first in the trenches, but I doubt it will stay down here.
Not sure if I agree with Neil that ANYONE could be a leader during crisis bc circumstances will dictate outcomes. I believe the PERCEPTION of weakness could make outcomes much worse. It may not make things better, but it definitely could make things worse.
Great insights as always. Bring him back!🙂
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One of the things that Howe does not mention when he talked about women not having children, is the fact that secure, legal immigration will solve much of the problem. Immigrants will work, pay taxes, and then we'll have children who will become working engage and add to our economy… Helping to pay for Social Security and Medicare for old folks.
Beautiful interview, Adam!
As much as I admire so much of Neil's work and find it compelling, and these general historical/economic patterns certainly are well-established, when he verbalizes the idea that there are two parts of America who don't agree on anything, that is at best blind, and at worst, exaggeratedly (and likely self-interestedly) misleading. I'm sorry and disappointed to be saying that; I almost never post anything online, and maybe he was being too glib. Yes, the two party-controlled subcultures (or at least the most vocal parts of them) appear to be oil and water (and even some of my relatives find it hard to even speak to each other due to so-called "political differences"), but to assert that this is the state of the US is to ignore every real person and neighbor out there who actually cooperate and commiserate and celebrate and respect each other's right to free speech and thought. I plead with anyone who makes it this far into my "rant": avoid extreme views, resist corporate control of our country, don't let commercial interests (which are EVERYWHERE) sway you, and above all, be compassionate! S$S
100 % true he is talking with a twisted tongue
Totally agree! Usually enjoy this channel and the guests Adam features, this guest and episode was so cringe.
He's actually correct. We have Populists vs Aristocracy. One controls all the rural areas, farms, has kids, masculine, patriarchal, etc. The other live in cities, have degrees, control the bureaucracies and mega-corporations, no kids or kids with no dad, feminine, communal, etc. We've had 70 years of a sex war, 15 years of a culture war, and now they want a war on guns and free speech. We almost had a civil war over the border with Texas and 10 other states that vowed to support them militarily. One big powder keg if you ask me.
Thank you for posting this. I think Adam appreciates people who think for themselves and are thoughtful consumers of information. This guy is treated too much like a guru, which sets off red flags for me.
@@jenjones8353 Neil Howe's conversation with Danielle DiMartino Booth back in January was disgusting, even more so now in light of recent events. Howe was gleeful contemplating Trump's "mortality." I'll never watch another interview with him.
Minute 51….incorrect implication. There were times my stupid 401k got totally destroyed because there were NO options of bonds, or fixed options. My hard work had to,take a huge hit. Then I got smart and put my money in a do it yourself platform ( think Fidelity, Schwab, former Ameritrade). I have made double,digit returns for years now, and I DO se nods and CDs when I feel the need. It another LIE in corporate America to just leave your money in the market all the time for the long run.
The immigration bill was an amnesty bill.
Please elaborate with facts, or is this just an uninformed opinion from a low-educated, arm-chair pseudo-intellectual?
Have You ever attempted to hire Workers in the USA recently?
Exactly. Howe was easily duped by the fascists when they put forward an amnesty bill and called it a border bill. You know with 100 percent certainty that all bills from the fascist Democrat party do the exact opposite of the name of the bill.
@@danielhutchinson6604 no effing Amnesty... pay people more
@@danielhutchinson6604apparently its not hard. According to the left, massive deportation will cause a rise of prices suggesting goods are being produced by the undocumented
Fascism and Socialism is the same thing. The only difference might be that Fascists wore uniforms. Other than that, same thing. Hitler himself said emphatically "I am a socialist"
AT 37:00, Neil mentions Bi-Partisan Border bill. There was NO Bi-partisan border bill. Only 1 GOP Senator supported it. Bi-Partisan by definition has to have more than 50% membership of a bill supporting it to be bi-partisan. Plus, the bill was called a border bill but it was just another Democrat trick to title a bill differently than what it actually does. For example, Inflation Reduction Act.
wrong - check your facts
@@darrenmogg3440 My Facts are correct. 1, It would of allowed more Illegals in. 2. The vast majority of Republicans were against it. Dem's talking points say it was bi partisan. it was not. It was just typical politicians lying like they all do. Both parties lie. It is just the Dems control the media and get away with it.
@@darrenmogg3440 My facts are correct. 1. It was not bi-Partisan. The vast majority of Republicans opposed it even before it reached the floor. 2. The House had already sent H.R. 2 a strong border bill to the Senate and Schumer never took it up. To call it Bi-Partisan was just typical Political lying. Both sides lie but the Dems get away with it more because the Media leans left.
I really appreciate all of Mr. Howe's perspectives, and especially his command of history and its potential relevance to our current situation. The one thing that I wish he would address that is different now than any other time in history is the global threat of climate change. Perhaps you could ask him about that the next time you interview him.
See Milankovich cycles and the fact that we are at solar maximum (most sunspots).
Tips can be defined as a non-required "gift". So it makes sense they can be exempt under gift tax rules.
yes, please bring Neil back. I've read all 3 of his turning books
It's impossible for young families to save unless they live with grandparents and they provide all childcare... which isn't possible or desirable for most. Bills are too high. And if we can't save, how can we retire?
More Neil please. His historical references are interesting and he has good insights into the modern macro environment. I have read his books but it's entertaining to hear his thoughts in an unscripted format.
Very insightful and logical presentation
We can also cut the HELL out of military spending.
Democrat
True
@@sandblast5636 We spend an order of magnitude too much in the military category, and what do we get for it?
We cannot beat the Houthis to re-open shipping to the Suez
We cannot supply the Ukrainian war with artillery shells
Our air defense systems top out at the Patriot, which is enormously expensive and unable to deal with modern drone swarms
If you continue to increase military spending you'll simply be going into debt for the benefit of giant military contractors without any benefit to battlefield operations.
Whatever the future holds, it will include deep cuts to military spending because that is the lion's share of the waste.
@@0x4A6566204Byeah military spending is a jobs program
@@0x4A6566204B The Pentagon Audits seem to illustrate the corruption that has been a part of the Military Industrial Complex for the last 40 years.
If funds were not assigned to "Undisclosed Locations" the weapons might be adequate to maintain an American Empire.
The question you need to ask is,
"Are we supposed to operate a Colonial Empire?
Was the Documents that formed the USA in the first place,
clearly defining the need to act as if we do not enjoy Colonial Exploitation by other Nations.
So if we become a Colonial Empire to ensure our Commercial success,
are we not acting in a manner contrary to principals that established the Nation?
Tax trades in Wall Street casino and do not touch SS! Tax the rich to the same level as middle class (not 15% for LLCs). Both parties are corrupted -prohibit donations from corporations. Reduce corruption at DOD. These simple steps would never be spoken by these gentlemen. They belong to financial oligarchy.
Just a marvelous interview and guest. Well done!
You’re opening statement in my opinion is totally correct: Massive resentment by the younger generation towards the Boomers.
Here’s a conversation I had a couple of years ago:
Talking to a 20 something manager he made this astounding comment: “We’re just waiting for you Boomers to die...then we’re going to fix the world”
After picking up my jaw I replied” By the time I’m dead...you’ll be my age.( early 60s) Why don’t you start fixing the world now!”
The younger generation doesn’t realize that our generation weren’t born “rich” we worked very hard under just as difficult circumstances as they are. Try a 10.5% mortgage and 15+% Inflation as 1976 had.
But this resentment: I don’t remember having this level of resentment to 60+ year olds when I was in my 20s. Sure they had more, but I had youth, and time, and energy. And I wanted to do it myself! I didn’t care what others had. I thought if they did it, maybe I can too.
Mid 50's. I started a side gig at night to pad my retirement account and all I hear is what a great preformer I am. It's like they all saw Sasquatch and a UFO all at the same time. Bottom line is they may show up but their not going to work.
Why does the US need such a huge military? Why not cut that? Why cut SS? We were forced to pay and now we will be forced to relinquish the benefits? Outrageous
There is just something about labeling and classifying groups that makes and keeps division going. Whether its the generational labeling; gen x, gen z, boomer, etc or woke idenities or political party idenity...it is all the same, just superfical differences that are meaningless and devisive. It won't be until we can see how we are truely the same and have a shared idenity that runs much deeper then these superfical differences, that we will be able to move on and make progress. Until then we stay stuck. Unfortunitly, in my humble opion, I think Neil Howe adds to the problem. Let's start talking about how we are the same, talking about our shared experiences as human beings all in the same shared human family!
News flash: no pockets in shrouds' raise death taxes and capitals gains on inheritances close the loop holes and old people either spend their wealth or the government takes it. Job done as in Japan :)
Adam love your show. Only one suggestion please. That background with the green fungus looking growth between two slabs of wood has got to go.
Looks like a giant alligator sneaking up on Adam from behind and about to chomp down on him. ...
Stay tuned 4 the 4th chewing. 😂
What about the loss of financial freedom with digital currency on a global scale?
Millennial investor here. I am taking the Gen X tactic of untethering from the life raft flotilla. So far...I'm being circled by sharks. International funds, Russel 2000, "value" funds, industrials and financials. All are sucking. Anything not US mega cap growth tech is sucking. At least I don't have to compete against the US government to buy assets, but at the same time, I'll never be able to sell my assets to the US government.
Thanks for the great interview! 🙏🏼
Here is some value: The fed couldn't generate enough inflation following quantitative easing 1,2,3, or 4. Money creation can only go so far in a capitalist society (as this is typically deflationary). You need to sever the supply chain, like what happens during pandemics and war, to produce the required inflation (inflation is needed to avoid the deflationary). Without a severing of the supply chain, asset inflation would not have occurred like it did, and you can already see the inflation completely removed from things like lumber and oil. The fed has learned that "forward guidance" is actually more important than interest rates themselves, as expectations guide consumer and market behavior (i.e. how the market behaved following the release of the dot plot). Some of these mega cap companies consumed huge quantities of cheap debt at low rates and have been able to drive their stock prices up and sock away additional cash for investors and for rainy days. I tend to believe we will see shallow market corrections, unless large investors all start selling the same stocks at the same time, which is highly possible. Also, politics is theater for fools and exposure should be restricted to reviewing legislation and potential laws passing through congress. The masses need more education from intellectuals who see beyond the "data" (as if even revised numbers are true haha), who actually understand what is happening, and fewer echo chamber economists. Do people actually believe the fed wants to reduce inflation? The only time they want that is when it becomes too noticeable too quickly. There's a reason 99% of people are the 99%...
*Our God indeed is a covenant keeping God. Has he said a thing and not perform it? I watch how things unfold in my life, from penury to $356,000 every three months and I can only praise him and trust him more. Hallelujah 🙌🏻🙌🏻🙌🏻*
Congratulations!! The scriptures clearly states there's going a transference of the riches of the heathen to the righteous. God keep blessings you
Hello how do you make such monthly??
I'm a born Christian and sometimes I feel so down🤦🏼of myself because of low finance but I still believe in God🙏.
She's a licensed broker here in the states🇺🇸 finance advisor.
After I raised up to 525k trading with her I bought a new House and a car here in the states 🇺🇸🇺🇸and also paid for my son's surgery (Oscar). Glory to God.shalom.
Can I also do it??? My life is facing lots of challenges lately
Adam you never miss
We need to implement means tested Social Security. And I say that as a 59-year-old who might get dinged by it. I know people think of it as a retirement account but it's really tax. We may end up having no choice if Neil is right.
Time for a MODERN. WPA program. We must have great PAYING. JOBS for ALL. Screw the 1%. ❤❤Thank you ADAM T. ❤❤
Fantastic interview ❤
yes, we may be spending on old people but they are the ones who paid into social security for themselves. So pretty much it is their own money that govt. spends.
There are too many older Americans on Social Security for them to be cut. TOO MANY VOTERS!
Who funded the Trump tax cut? Why is a tax cut never questioned but child care is? Change priorities.
Social Security was great in the beginning and sounded great until it wasn't.
Now most of us Gen X and younger may never see (or at least slashed benefits) it due to the incompetentency of its management and how the money is being spent.
Neil is right. Whoever is in charge doesnt really matter because most Americans will look to government to save them, when it was government that created the problem.
History kepts repeating itself doesn't it?
One thing "we" could do is cut Wall Street out of the health care business.
And there are many other things "we" can do to shift the stigma of being 65yrs old and over to the stigma of "How much are you corporations, banks and investment groups gouging from the public?".
You ever notice these types of conversations never address this part of the equation? Hmm
Thanks. We sure need the follow-up interview soon.
His analysis of our military readiness indicates we are planning to lose the wars in which we are participating around the world. Debt forgiven. Problem solved.
Thank you very much...
I was hoping for this soon. And then it arrived 🎉 thanks
Sounds like "Bail out the Regime from itself, then rebuild with the young people who are left". There goes anyone retiring now, lives thrown away. Good realistic discussion.
read fourth turning , really fascinating stuff, just bought the new book and looking forward to it, great interview thank you Neil
Neil Howe is a wealth of knowledge on an even keel!
The Fourth Turning is here! Otherwise known as the plutonium era of death, alchemy and rebirth.
V little anxiety here. That’s what happens when your born a gen x Scorpio.
Looking forward always to the day Neil comes back on. Truly can listen for hours.
Want to menrion again, Adam, it would be phenomenal to see David Murrin, Global Forecaster, come on your show. He talks about many of these same civilizational cycles with a distinct nod to what Neil mentioned there at the end.
Fantastic conversation.
The best way to be profitable is via publicizing bad news or spreading fear and negativity. These tactics never cease to fail.
One size fits all healthcare is a no thanks. Allow private practice and hospitals. Use local property taxes to support local only hospitals.
Great stuff as always
I like the idea that out of adversity comes renewal and strength. Thanks.
Brilliant peak into the next 10 years.
His verbiage is not very concise. A great number of people care about Kamala’s lack of qualifications, and the fact that the person who was allegedly elected is not running the government. I would also say that voting for an R or a D because you dislike the other candidate is not actually “engagement”.
Why is it so few seen to understand how social security works? Your payments whilst you work are not invested on your behalf to grow untii you come to draw on it. The payments you make are paying the benefits drawn today, we are all relying on there being enough people working and paying in when our turn comes round. The problem is that fewer and fewer people are working, and the birrh rate is too low, couple that with AI and robotics taking jobs and you can see the problem we face with the current funding model
Government should cut the public education sector loose. They are no good at it and it would completely revitalize the talent pool.
Wonderful perspective. Unfortunately accurate.
I loved Neal's point about the redistribution of wealth is from young to old and that there are less and less young people to feed into that. Also, that Kamala needs to attach a note with the baby bonus that those babies will have to pay for that plus interest in the future! Great talk!