ECONOMIST WARNS: A Great Depression Is Coming In America | Peter Schiff x Jaspreet Singh
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- Опубликовано: 22 апр 2024
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japan is the canary in the coal mine....they went full on dead beat 300% gdp lol
Peter Schiff is not an economist. He is in the gold business..
Caution, look out for scams in Peter schiff 😅
Illiterate thinks that continuously growing your pubic hair gives you some brownie points of heaven
Bro enough if your sky is falling headlines, shot has been done for eons and you gonna do the same ???? Come on bro free country I guess but you also can stop trying to use fear headlines .
I think the true question is… Will we ever see a politician say “to hell with my political career, I’m going to save this country from itself or die trying”
JESUS WAS THAT MEN
As far as real people go there's been a few that did in fact die trying.
No, because people will leave.
It's like the man that gives the young girl an engagement ring with no intention of marrying her. If she ever figures aour that her value is to attract other women and maintain his value ONLY, she’ll decide for her own best interest.
No. You will never hear that response in our lifetime.
The death of the middle class. Get your house in order people! Great interview!
Absolutely. Useless Biden
@@michaelcostin2384 Biden is about as smart as a 2 x 4 but this is much bigger than the president and it’s been going on a lot longer than four years. Issue is that nobody in office wants to be the one to let the house of cards collapse. They only need to keep things afloat for four years and then it gets passed to the next person. Left vs right is just a distraction to keep people against each other and not focused on the real problems.
@@michaelcostin2384Bush invaded Iraq and Afghanistan adding 20 Trillion and created a housing market crisis, Obama spent trillions bailing the rich out, Trump dropped rates way to low and added trillions to the deficit with stimulus, and now we have Bidenomics at play which have been a disaster. Long story short this problem was both parties fault can’t just blame one guy.
@michaelcostin2384 it's got nothing to do with Biden. It's at Nation state level. Trump or Biden are just figure heads to keep you distracted.
Useful for destroying the US@@michaelcostin2384
It kills me how the government thinks that social security is their money.
It is the government’s because they control it. They’ll take it at any moment. Get your head out of your azz
Bingo!.....social security was a money gripping schemes engineered by those ruling elites in the first place as such policies been established!!!
Only not too many little citizens shee_ples has realized such tricks!.....until getting more obvious now.....
Yep, the Canadian government now tally’s our retirement (CPP) as part of GDP! They just upped taxes (across the board… but say they’re only taxing the rich with upping capital gain tax… but that’s the only tax that doesn’t come into play until June!… giving the wealth time to get out!). There’s an exodus of money leaving Canada, but the government is telling CPP they have to invest our retirement funds in Canada companies! What a bloody mess coming down the pipes!
So your paying less for things ? This is a slow creep were getting much further in the process
That's why the govt created SS in the first place...so they could steal it, not to help anyone out.
"The Federal Reserve System is not Federal; it has no reserves, and is not even a system at all. But rather an international criminal syndicate."- Eustace Mullins.
God help us if we form our opinions based on Eustace Mullins.
@@papasquat355had to google who this guy was, maybe he coulda used a different quote😂😂😂
Yeah I heard, Morgan, Rockefeller, Rothschild, Ford, Royals and Vatican were the owners?
Who appoints the Fed chairman? The president. It operates like a cartel in collusion with the government.
@@papasquat355 it's not an opinion, it's a fact...
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.
A lot of folks downplay the role of advlsors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation
Viviana Marisa Coelho is her name. She is regarded as a genius in her area and works for Empower Financial Services. By looking her up online, you can quickly verify her level of experience. She is well knowledgeable about financial markets
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing
Brilliant Video, especially put together by both Peter and Singh.... Jaspreet, I’ve been following your videos for months now and with professional help, I’m making outstanding progress with my money Decisions.
Absolutely agree! A pro can make a world of difference.
True. With the help of a financial advisor, I have learnt that as long as you diversify your portfolio, any single stock or investment that you own shouldn’t have too much of an impact on your overall return. If it does, diversifying might be the right choice for you, as one can also try out other commodities. I now have a balanced portfolio that is yielding me profit
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? I'm in dire need of proper portfolio allocation.
Her name is Michele Katherine Singh She maintains an online presence. just make a simple search for her name online.
Her name is Michele Katherine Singh She maintains an online presence. just make a simple search for her name online.
Thank you for inviting this great legend onto your show! What a treat!
Thanks Jaspree for an excellent interview and the opportunity to connect with your audience.
legend
The next peter schiff was right video will be epic
🙌
Thanks Peter. It was a great podcast
I didn’t like his interview or his views on Biden, but I’m still team Jaspreet🎯
I am 65 and I have been hearing a depression is coming for at least 50 years now. I am not saying it won't happen, but it is safe to say not tomorrow...
It depends where you are financially. Some people are already in one and some people never really will be .
Where have you been.
@@MathewCarpenter-ng3bhnope depends on GDP
@Ro-nu7vv gdp is so manipulated... so no. I mean right now the gdp is being propped up by government spending not by the productiveness of the economy
A recession is when your neighbour loses their job/income, a depression is when we lose our job/income.
Buying a home doesn’t make you a homeowner but a loanowner. This is the American dream
It is not your land, it is the government's land. The home may be yours, until you don't pay your taxes a couple of years.
We are ONLY listed as "tenants" on the deed for ANY real estate purchase! Cestui Que Vie Act of 1666- "An Act for Redresse of Inconveniencies by want of Proofe of the Deceases of Persons beyond the Seas or absenting themselves, upon whose Lives Estates doe depend."
*YT Quick Survey:* For your shared investing ideas, what do you think will be the next Apple/Microsoft in terms of growth?
None!!!! considering the present unpredictable market volatility there are over a thousand reasons why the market is a no go especially now.
Not true at all... Although the market isn't so stable at the moment, it isn't as sick as some people have made it look... In all honesty, as a beginner who knows next to nothing, I have made over $12k net-profit just in a couple of months... I'm a retiree, and I am using these extra resources to help pay for odds and ends that I want.
Hi Tommy Baldwin, from my little experience your profit margin is quite stunning for a beginner. How did you do it; Do you make use of spreadsheets? Thanks if you reply.
NO I have never used a spreadsheet.. It's of no relevance to me... I work with Kelly Marie Matwick look her up, she's good and regulated.
People will be faced with something they have NEVER experienced before!!
Cut back, grow your own food( as best you can) hang your clothes outside to dry, no eating out. Cook meals at home.
Suddenly I'm depressed!
So sending billions overseas every time we turn around doesn't factor into this at all?
Where did they say that sending billions overseas does not effect what they are talking about? They literally were proving your statement the whole time.
By over seas they mean their pockets and who doesn’t understand that doesn’t understand the politician
@@supersurgelawncare sure.
Most of that money stays right here in the US with government contracts. The hog is in your own backyard.
@Daniel What do you mean by that?
I love how people in the comments keep saying oh he’s been saying this for years and he’s just a dooms day perma bear meanwhile everything he is saying is correct and manifesting itself the way he called it a year ago. I have been listening to his podcast regularly for the last year and a half and he called the no rate cuts, he called inflation spiking back up, he is a great macro economist imo the best I’ve ever listened to. He was early for many years because our inflation was low but this time his timing is spot on and we are in a new era. Inflation is here to stay and will only get worse as we keep trying to fight fire with fire. Give it a couple more months maybe into next year but a depression is definitely coming sooner than later.
Agreed
Yup and what's crazy is he correctly called the 2008 housing crash. I remember back in 2007 the media used to have him on the show just to ridicule, taunt and laugh at him. But he was right the whole time.
Totally agree with you!! The media doesn’t mention anything about the economy in that it sucks. People maxing out their credit cards. Our government is stupid and have no idea how to manage our money given to them by taxing the hell out of us!! Giving billions of dollars to fund their proxy wars and giving free money to illegal aliens!! They have no idea how to negotiate and they just piss off countries!! Americans are sick of their BS!!
Agree. I laugh in Australia when the sheeples say interest rate are coming down while everything keeps inflating and we have so much immigration and no housing..... 😂😂😂
nah, highly unlikely.
some folks just want to see the world burn lol
Like Dave Ramsey always said to his callers " don't spend Like congress "...
True, but investing like Congress is a safer investment than the S&P 500.
Dave Ramsey is atwat
One thing I love about this platform you’ve created is your ability to actively listen and allow the guest to speak. And when you do interject, you’re adding value to the conversation. There’s so many channels that have the potential to be great if they allowed the guest to speak w/out interrupting. It’s a skill that many lack. Keep up the good work 👏🏾
Bhaiya ji already we are in depression 😢😞 inflation , jobless , can’t afford vacation , bills, family maintenance 😢what not hopeless situation
Since when could you afford a vacation? I've never felt like I could afford that lol.
Peter Schiff yeasss ~ Excellent choice Jaspreet!! He's the best 🙌
Depression and the final stage is Hyperinflation. Kaputt.
Hey Jaspreet, don't know if you are working in your studio, but you need some sound deadening. The audio sounds hollow. You need something to absorb the echoes. Curtains, sound tiles, etc.
I said this months ago when people started saying there wasn't going to be a recession. We're going way past that.
Finally, someone who doesnt have their head in the sand. And thank you for actually understanding inflation. As someone who has a degree in econimics, its refreshing to see someone explain economics accurately.
Just because you don't have a fever doesn't mean you don't have cancer. The unemployment rate is just a snapshot, a moment in time, and like a commodity the number never stays the same for long. Not to mention the metrics are basically cooked anyway.
I don’t think interest rates are high. They are too low…
If you are looking for interest on savings instead of borrowing.
Exactly , I don't know where everyone got this idea that they are owed a 3% interest rate to buy a home.
Greedy corporations do not compete, they collaborate to fix prices. Real estate agents do not try to drive prices down, but up. The assumption that any market is free and fair is an error.
Actually real estate agents negotiate on behalf of the buyer. They ultimately can’t drive prices up, the sellers drive prices up.
@@postalpancho You know real estate agents work for seller's too, right?
I am saving money before paying more the credit cards of beyond the minimum. I can let the creditors call. I NEED food and medicine.
Smart.
The subject of greedy corporation, he left out, companies can ban together to sell at a set price, so they can give the illusion of competition and still make a profit.
Price fixing is illegal
Right it’s a tax we’re paying but literally, unlike taxes, it doesn’t help anyone but billionaires
He said that people are buying houses and refusing to move which is keeping those homes out of the market. It’s freakin corporations buying houses and keeping them off the market wtf. He’s right about some things, but he is out of touch on some things.
My company makes around $300k/year selling garbage bags to local businesses. I acquire 100 roll of garbage bags for $0.50 and sell it for $7, why? Because it's $1 dollar cheaper than the competition. How is that price collusion?
Even more insidious is that they have bought Washington. They lobby to have policies that create barriers for would be competition. There are a few outliers on both the left and right who acknowledge that this happens.
I love peter. Amazing knowledge on economics. He understands the monetary n credit system
My company is running with a skeleton crew. And we are bleeding customers. Why don't report the under employed? Just because someone has a minimum wage job doesn't mean they can pay their bills.
I’m a blue collar worker and I know some companies that have 2 1/2 years worth of work at this moment but can’t keep employees. I think a lot of it is the location you live in.
Nice! You're bringing Peter Schiff to your audience! The legend.
Correcto!
Good points 👍🏽
-Stop buying things we don't need-
I'll strat from there.
Great interview
Your guess who I follow faithfully is one of the best economist out there!!!
Love this content and appricate the guidence. You might consider investing in some soundproofing equipment for your space as you're audio is quite tough to take in because of the soundwaves bouncing around the room. Espeically compaired to the clean audio of your guest.
You have been saying this since I followed the channel, and every other person who speaks about financials. We are still here…
Peter Schiff , .... what great truefull explanation ! Plain , straightforward, logical non political assessment.
This is so good! This needs to be shared.
Schiff has been saying this for decades. I missed out on making hundreds of thousands listening to this guy.
Here is my two cents of wisdom. JOBS are ridiculous. Everyone knows no one wants to be a slave to someone elses dreams, desires, goals, etc...
If you chose to work for someone else its because there was no other option available to you, you wanted to volunteer, or are a teenage brat. 😉
The sentiment should be built your true self, become your own boss and make your business work. ❤❤❤❤ Blessings to everyone.
Remember Peter Schiff is a Fund manager at the end of the day
And he is gold bug. Dooms day messages prompt folks to buy more gold!
What did he say to make you go to him for help? He only stated ways you can help yourself because he has been helping himself his whole life.
He has several mutual funds his firm manages.
So, what is your point? He is a purveyor of common sense and has been right on every occassion.
Oh the cognitive dissonance
There won't be a depression, only hyper-inflation.
I agree with Peter on this. We're trying to curb inflation and starting to succeed in doing so but the American consumer is it feeling it the way they normally would when inflation starts to be put in check. The biggest problem with why consumers are putting groceries on credit cards and even credit card debt being at its highest - it's the corporations. These corporations are making record profits and they don't want to lose that momentum and it's coming at the expense of the American consumer. They're greed and this Make the c suite level executives as much money as possible is literally wiping out the middle class. Credit card and loan defaults have been going up and when that happens as we all know you take a shot on your credit. If you have credit and loans being defaulted on and millions of people having their credit damaged then pretty soon Banks are going to find themselves searching for customers because everybody that would have qualified for loans or credit items now no longer do. The fear with that is that when that starts happening banks start loosening who can have credit which allows for a flood of people to come in who probably really aren't responsible with their credit and Banks start losing money. This is a vicious cycle that needs to be put in check. These corporations and banks need to be put in check.
The job's problem is that you have all these corporations posting available jobs and like Peter said they're either part-time or full-time with lower pay after they let the previous guy or girl go who was making more in that position or the job is don't even really exist and the company is just doing it to look like they're expanding.
We need to start forcing out some of these career politicians. I think personally it should be illegal for corporations to donate the candidates because it overshadows the voice of the everyday working American and it puts their voice at the end of the line because that American doesn't have $5 million to throw at a candidate and be put to the front of the line with their requests. I've said this before, corporations run this country. Politicians are just the middleman to get the job done and finalized.
Only 5-6 companies sell products in USA. If they want more money you have to pay them. There is no competition to sell products at less priced.
👉💥 This is the best interview about economy and finance. All topics covered 🔥
I don't know but is rare to me to be in such agreement with a youtube economic video like this one.
Peter Schiff vs Gary Stevenson of Gary's Economics would be a great debate. The math of cutting programs and making smaller government seem to not be as effective as taxing fixed assets but that conversation would be very entertaining.
Jaspreet, the Shure SM7B sounds way better than this mic. Try the EV re2, if you are looking for a better mic.
Wow this seems to have so much truth to it and a lot of what he says makes sense.. Depressing but very eye opening.
It's looking like a great opportunity for me to buy more assets.
What are you buying right now ?
@@mindful-accountability Empty lots in Fort Pierce FL.
@@eionsmith100 very interesting.. what are they going for ?
@@mindful-accountability $20k and up.Sorry Fort Pierce FL is the location.
34:10 We were all tricked into watching an hour long commercial for Peter Schiff's hedge fund. Come on Man.
Thanks. I was getting suspicious early on and now I don't have to waste my time.
For real though! 🤣🤣🤣🤣🤣
Yeah I saw Peter Schaffer on the thumbnail and knew it. Pure alarmist grifter.
Cost of living has soared 30-40%. It doesn’t affect those that have assets. It doesn’t mean he is lying. Common ppl are suffering. I don’t know which crystal mansion you are living in
He doesn't have a hedge fund. He runs a few mutual funds based on the way he sees the world economy heading.
The saying is figures don’t lie, but liars do figure. Meaning they can find ways to deceive
I’m sad for my children, and all of our futures. This year has changed all of our lives for the worst, and it is going to all collapse due to the government’s spending.
Thanks man I always learn from you
WoW. What a knowledge bomb this was!
A great linkup with two economists I follow on RUclips. Thanks for this interview!
43:15 My friend was super pissed about this. But I loved it and I didnt get laid off. People had negotiating power with companies that took advantage of them.
Such a great video! 👍 Love following you both! But with all the investor flooded companies, will they still continue to buy out affordable SFR's before the middle income owner occupants can buy?
One of my retired neighbors had to go back to work and another tried to sell his house and move but couldn’t get a offer so he decided to stay. Ain’t looking good when retirees are struggling.
I enjoy these kinds of videos to explain more of what’s actually going on aside from Jaspreet’s videos 🙏🏽
Peter Schiff aka The voice of reason
The US of As' trade situation started getting bad about 1974, got worse during the 1980s' and 1990s' and in 2024 is beyond belief in a horror movie manor: a real nightmare.
Great content. Very informative.
1982-1984 the home loan was 16-18% and all the homes in my neighborhood were built and sold during that time.
Great video. Should be in every movie theater and school
Good to see someone who knows what they’re talking about
Real talk 🎉 thanks bro
I really appreciate this video.
Best episode, most insightful and simply articulate. Easily digestible truth.
This information are just Facts
If we had a stakeholder mindset, vice a shareholder mindset, we would have higher paid full time employees.
I like that
What a great conversation this is, a must listen! 🙂
Jaspreet your voice is not clear but we can clearly hear Peter
Your videos are great. This one was difficult to watch due to the politics that were in video.
Jaspreet. Great video, but is your mic working? Its so low and we can hear your echo
Gold has been around for tens of thousands of years, and it's hilarious that it needs frequent TV ads and thousands of RUclips videos to convince people it's a store of value.
Ive always been itching to know what Peter Schiff said to his daddy Irwin when Irwin was on the brink of going to jail for his crusade against the IRS for which he ended up serving the jail time and dying in prison unfortunately. But that time Irwin spent on trial fighting the inevitable losing battle with thwee IRS, ive always wanted to know what Peter was saying to him then.
When the Great Depression and other huge catastrophes occurred, I used to believe that everyone went bankrupt, but they didn't... Some made millions; I also assumed that everyone closed their businesses during these times, but certain did start new ones. It all depends on your point of view; there will always be moments of prosperity for some individuals and times of depression or recession for others. My main concern now is how can we generate more revenue during quantitative times? I can't afford to see my life savings of $200k crumble to dust.
Hence I will suggest you get yourself a professional that can provide you with entry and exit points on the securities you focus on.
Very true! I've been able to scale from $650K to 1.2m in this red season because my FA figured out Defensive strategies to protect my portfolio and profit from this roller coaster market
if it’s not asking too much, anyway I could discuss with this financial advisor to help restructure my portfolio
I need a guide so i can salvage my port-folio due to the massive dips and come up with better strategies. How can one reach this advisor?
'vivian jean wilhelm’ maintains an online presence. Just make a simple search for her name online.
Borrowing is NOT BUYING.
Totally different things! Thats why folks are in DEBT. They don't know the difference!!💔
On getting old, my trip to Nigril for scuba test was on shore distance swim in shallow water, most of the others were 20 years younger couldn't make the distance. I'm 64, Water polo in high school and time at the beach currently I'm great full. I don't drink alcohol.
Question: So even if inflation goes up that much, will that even curtail or stop the REIT companies from spending investors money on more Single Family Residents? Or will they still snatch the supply out from under the next generations middle income hands?
Shrinkflation. Less product high prices.
It amazes me we assume the principle of supply and demmand will lower house prices. However, we assume prices will increase for manufactured prices while descrenary income collaspe. If descrenary income goes away due to inflation, only mandatory spending will remain. Allother prices will reset just like housing.
Amazing interview!!!
Great interview 👍!
I have followed Peter since the 2008 crisis, and he has always been the doom-and-gloom guy. He said a double dip or another crash was around the corner, but it never came.
So your point is? You’re here listening aren’t you so shut up and learn something.
@@MyBrian67 Why in the hell would I listen when the title suggest a depression is coming and knowing Peter for so long as the usual doom and gloom guy? You are not very smart are you? SMDH. Go take a chill pill and relax.
It is around the corner but timing it is not easy. If you don’t see a huge depression or recession coming go watch MSNBC talking about soft landing incoming.
@@Mustang85635 I agree but the issue I have with him is he keeps saying it is around the corner. Recession goes in cycle. I guess if you wait long enough he will eventually be right, right? Then he can claim that he has always been right.
@@coolworl it’s true he is always saying it’s going to crash but to be fair the things he says are true. Like it’s not just him saying these things… he is very much doom and gloom but still I like him…
If the CEOs of these corporations wouldn't make 300x more the salary of average worker, prices of goods could be much lower, regardless of the inflation rate. In addition, when the price of goods goes up due to inflation, once the inflation goes down, the price of goods stays the same...
Another banger today! ☕️☕️☕️
Anada banga!
I bought my first home in the Carter administration,interest was Crazy,it's inexcusable for homes,food,autos to be so expensive!!!!!!
Great video ❤
Jaspreet. Whats better roth or traditional 401k?
(Jaspreet- I hope you get that mic working. Your room reverb is kicking! Is it just an iPhone picking up your audio?)
Great podcast! Sounds like stagflation. High inflation, low economic growth. Sounds like trouble brewing. When it comes to politicians people put too much weight on their ability to manage our own economic affairs. Cut back make things happen and don't blame others.
Good video, telling the truth
Awesome video!
I feel companies and business is getting harder for them, meaning bankruptcy and less workers/ consumers buy less, crazy stuff happening.
Peter Schiff, what do you think about platinum?
I don’t agree with people always framing raised taxes as “angering everyone”. I am not opposed to taxes, as long as it’s transparent how I’m helping people. But no, I’m paying an extra tax through other non-taxes. My utility rates, the cost of NEEDING a car, the cost and time spent on books and education, my insane health insurance ripoffs, being scared of police because I’m poor and who knows what I’ve done to draw their attention in this greedy surveillance state, etc. I’m not opposed to raised taxes, it doesn’t make me as mad as corporations seizing on my money only to go into someone’s pockets, not to fixing my roads, funding my schools, making my prisons more humane, my local parks and environment, my library, public transit, my social services that actually helps someone instead of making some rich bastards richer.
Most of your taxes goes to interest on the debt and in a few years all of it will go to the interest on the debt
I agree with you. We could very much have a better US of A if we spent the money we do on wars and weapons on our infrastructure, education, housing, people.
thank you Peter
My man speaking the truth.