Not making up to a million before retirement is unfulfilled retirement.!! I’m 54 and my wife 50 we are both retired with over $7 million in net worth and no debts. Currently living smart and frugal with our money. No longer putting blames on FED for our misfortunes. Saving and investing lifestyle in the stock and forex market made it possible for us this early, even till now we earn weekly.
Our economy is afflicted by uncertainty, housing troubles, foreclosures, global shifts, and the aftermath of the epidemic, all of which contribute to instability. To restore stability and drive growth, all sectors must urgently address rising inflation, slowing GDP, and trade disruptions.
Feels like we're piling on more and more debt every day, with inflation already eating away at our savings a debt crisis on top of it feels like a recipe for disaster
Investing or saving in uncertain times requires a cool head, the key is to stay informed but not overwhelmed by the news. The debt situation is complex but there are still good investment opportunities out there, diversification is your friend..
The best hedges against inflation are medicare and owning a home, health insurance and housing are the most significant inflation items. To combat inflation, we need to cut regulation and encourage high volume timber (cut down and replant, normal houses aren't being built; it's only luxury homes and some built just for government leeches.) Trump said cutting oil prices would do more good than current interest price raises for cutting inflation (sorta, it's complex.) I do see risk that nobody admits to, the US could default; it would be funny if they defaulted and then bought that debt for 10 cents on the dollar and forgave it. There's no room for tax increases, increase tax on corporations and they'll just spend money growing it and say 'what profit' and the middle class is taxed too much already (especially self employed, 35% on first dollar income after expenses and it's not like they can deduct living expenses.)
Do you think they will just monetize the debt once they can no longer afford it? If so, wouldn’t that drive long term bond prices higher? Like much higher?
Toby. Read the Deficit Myth. The idea that the govt is borrowing some external form of money is wrong. It is the issuer of the money it 'borrows'. It can always pay its debts. IF indeed the govt were borrowing some other entitie's currency - it could be in trouble - but that is not the case. If say Florida owed a lot of US $ it could be in trouble, but not the US Govt.
I know what would help. Shrink all government programs across the board. No sacred cows. Cut everything by 3 percent every year forever. Make legislation to this effect. Private industry can slowly step up to outsource the majority of government services. Government can completely get out of healthcare, education, and social welfare programs. Charities and non profits could take over. Apprenticeships could take over most education. Annuities can replace social security. Stop spending on roads and go back to mostly rail. And default on debt held by foreign sovereign nations. Shrink military massively, close foreign bases. We have two oceans to protect from conventional attack!
Toby, I’ll disagree with you on govt debt ..We are a monetary sovereign country . federal spending shouldn’t be compared as personal finance ,state govt spending etc ..Without spending we cannot innovate ,develop new infrastructure, educate kids ,defense,run businesses etc ..if no spending we have recession 100% ..We are being told by paid think tankers , media etc that debt is bad so that there is always a gap between rich and poor ..
Do you guys know why it was in clinton era? because usa had lowest taxes then. So people are smart, when it makes sense, people do not avoid paying tax, looking for schemes etc. They also tend to donate more etc.
Yes. The reason why it was last in the Clinton era that the United States government ran a surplus was because that was the only time a President was given the power of a line-item veto over the budget. Clinton used that to completely strike all Republican programs from the budget, leaving only funding for Democrat programs. That produced a surplus while he was in office because he shut down all Republican programs and only kept Democrat ones. That line item veto has not been granted to any President since Clinton, hence the continued deficits.
What is your point? Biden continued the spending. The only difference is Trump "was forced to spend" when the world was dealing with a pandemic. Biden continued that but added a couple of regional conflicts to fund.
@@peterrodriguez3609 People blame Biden, and Trump was never forced...he gloated over it. Trump & Biden are BOTH bad choices! We need an Independent candidate as both parties are bad!
@@willmallory9085 Trump had a plan to pay off the debt by the U.S. being energy dominant but he didn’t get reelected. Biden kept spending and had no plan because he only cares about his family not ours.
Solutions: Remove healthcare for inmates, make their families pay for it. Limit Welfare to 3 years, max 2 children total. If the mother can't do it, full custody to the father. Family Court laws need to change too, if we dissolved No Fault Divorce there'd be less women requesting the government to be their children's father (food, medical and shelter). There, I said it.
The debt did not explode until Covid screwed up Trump’s plans to get us out of debt. He didn’t get reelected and Biden kept spending like a drunken sailor. Trump plans to pay off debt by making the US energy dominant. Energy cut off by Biden exploded prices of everything.
The credibility of this channel's host is immediately destroyed by his display of this "national debt" that does not exist. This being the case simply because all of these pseudo national debt $s are in fact we the peoples' electronically generated $s that do spend exactly the same as we the peoples' forty-hour workweek paycheck $s, nonetheless we the peoples' electronically generated $s are all quite impossible to borrow or payback, for that matter, thus there really is no such thing as our having a national debt. My full name is - Oscar Dean Windham.
Well, what we ought to do is give the rich another tax cut, and cut services. Like social security and medicare. And make it illegal to complain. It's just that easy.
Join Infinity Investing as a Basic Member and learn how to combat inflation the correct way! 👉inf.link/dof
Not making up to a million before retirement is unfulfilled retirement.!! I’m 54 and my wife 50 we are both retired with over $7 million in net worth and no debts. Currently living smart and frugal with our money. No longer putting blames on FED for our misfortunes. Saving and investing lifestyle in the stock and forex market made it possible for us this early, even till now we earn weekly.
Liar
I’m sure your family is very proud of you.
Lukter et par misunlige i kommentar seksjon her nå 😂👍🏻
Our economy is afflicted by uncertainty, housing troubles, foreclosures, global shifts, and the aftermath of the epidemic, all of which contribute to instability. To restore stability and drive growth, all sectors must urgently address rising inflation, slowing GDP, and trade disruptions.
Feels like we're piling on more and more debt every day, with inflation already eating away at our savings a debt crisis on top of it feels like a recipe for disaster
This debt stuff is confusing, will it affect my savings? And assets ?
Investing or saving in uncertain times requires a cool head, the key is to stay informed but not overwhelmed by the news. The debt situation is complex but there are still good investment opportunities out there, diversification is your friend..
Gold? Silver? Copper?
Why do we keep sending our money overseas? That's our money!
From my perspective, the government needs slash spending. Even at 100% tax rate, the government still outspends what it could possibly bring in.
The best hedges against inflation are medicare and owning a home, health insurance and housing are the most significant inflation items. To combat inflation, we need to cut regulation and encourage high volume timber (cut down and replant, normal houses aren't being built; it's only luxury homes and some built just for government leeches.) Trump said cutting oil prices would do more good than current interest price raises for cutting inflation (sorta, it's complex.) I do see risk that nobody admits to, the US could default; it would be funny if they defaulted and then bought that debt for 10 cents on the dollar and forgave it. There's no room for tax increases, increase tax on corporations and they'll just spend money growing it and say 'what profit' and the middle class is taxed too much already (especially self employed, 35% on first dollar income after expenses and it's not like they can deduct living expenses.)
We got money to give out to other countie but we in debt make it make since .please thanks😊🎉
You are speaking our minds.
Who is the United States in debt too? Jobs are being lost and incomes has not increased. How can the US collect on what isn't there to collect from?
Cut gov spending is job number one.
Vote for a new president my friend, I am.
Soo…why no one being punished and accountable?
'We' owe.. 'We're' spending.. um. 'We're' gonna pay.. ?
Another great quality video Toby. Your videos are well explained, with very relevant and pertinent information. Thanks.
Glad you enjoyed it. Thanks for the feedback, it means a lot.
It's terrifying. I mean, we're talking trillions here. It's hard to even comprehend the scale of it.
And it just keeps climbing. It's like there's no end in sight. I worry about what this means for our future, for our kids.
I know, right? I'm starting to think about downsizing, maybe even selling my house. I don't want to pass on this debt burden to my kids.
We got money to give away explain
When you find yourself in a hole, the first thing to do is STOP DIGGING!
We'll never get a handle on the debt until we stop adding to it.
Loved the analogy of $50K in 1970 in RE/Stocks/Cash. Cash gets trashed over time so get assets not a hard lesson to learn.
Disincentivizing PE LBOs would bump GDP 10% at a minimum as funds from pensions shifted from destroying companies to growing them.
Excellent video Brother. The interest on our debt is crazy right now!
I don’t owe shit, government owes not me
Do you think they will just monetize the debt once they can no longer afford it? If so, wouldn’t that drive long term bond prices higher? Like much higher?
My suggestion, get out of $$$ and buy bullion. I prefer Gold but there are other viable options.
USD is still looking strong as ever though.
Toby. Read the Deficit Myth. The idea that the govt is borrowing some external form of money is wrong. It is the issuer of the money it 'borrows'. It can always pay its debts. IF indeed the govt were borrowing some other entitie's currency - it could be in trouble - but that is not the case. If say Florida owed a lot of US $ it could be in trouble, but not the US Govt.
make sure you tell Janet Yellin that or Jerome Powell. Or better yet, get a free book from Misses institute. It s a fast read. And free
I know what would help. Shrink all government programs across the board. No sacred cows. Cut everything by 3 percent every year forever. Make legislation to this effect. Private industry can slowly step up to outsource the majority of government services. Government can completely get out of healthcare, education, and social welfare programs. Charities and non profits could take over. Apprenticeships could take over most education. Annuities can replace social security. Stop spending on roads and go back to mostly rail. And default on debt held by foreign sovereign nations. Shrink military massively, close foreign bases. We have two oceans to protect from conventional attack!
Toby, I’ll disagree with you on govt debt ..We are a monetary sovereign country . federal spending shouldn’t be compared as personal finance ,state govt spending etc ..Without spending we cannot innovate ,develop new infrastructure, educate kids ,defense,run businesses etc ..if no spending we have recession 100% ..We are being told by paid think tankers , media etc that debt is bad so that there is always a gap between rich and poor ..
It seems to me that unless US government cuts spending we are just chasing our tails the back of a runaway train heading over a cliff.
Please let us know when you speak on subtitle A income taxes and explain how they affect average American citizens in the U.S.
Thank you for the suggestion. I'll definitely consider recording that topic
@@TobyMathis we appreciate all you share with us. Thanks
Cut gov spending
Hello sir, can I do a 1031 exchange into a duplex and move into one side right away?
I recommend registering for a complimentary consultation with my team. We'll tailor our advice to your specific needs. Sign up here: aba.link/rxq
The government could also spend less.
Only country in the world that worries increasing GDP raises prices. Huh?????????
Do you guys know why it was in clinton era? because usa had lowest taxes then. So people are smart, when it makes sense, people do not avoid paying tax, looking for schemes etc. They also tend to donate more etc.
Yes. The reason why it was last in the Clinton era that
the United States government ran a surplus was because that was the only time a President was given the power of a line-item veto over the budget. Clinton used that to completely strike all Republican programs from the budget, leaving only funding for Democrat programs. That produced a surplus while he was in office because he shut down all Republican programs and only kept Democrat ones. That line item veto has not been granted to any President since Clinton, hence the continued deficits.
Does buddy have a discord channel?
This must be a mistake since little joe says we are in the best economy we have ever seen.
Who would want to be the next president? We are literally and figuratively at the edge of the cliff.
The American dream is getting out of the USA as fast as you can.
We need a CPA to run for president.
LeaveAnyComment &ThumbItUp 4AIgos
8:00 and people forget that Congress and Trump STARTED the free money! Trump even wanted his signature on the paper checks.
What is your point? Biden continued the spending. The only difference is Trump "was forced to spend" when the world was dealing with a pandemic. Biden continued that but added a couple of regional conflicts to fund.
@@peterrodriguez3609 People blame Biden, and Trump was never forced...he gloated over it. Trump & Biden are BOTH bad choices! We need an Independent candidate as both parties are bad!
@@willmallory9085 Trump had a plan to pay off the debt by the U.S. being energy dominant but he didn’t get reelected. Biden kept spending and had no plan because he only cares about his family not ours.
Solutions: Remove healthcare for inmates, make their families pay for it. Limit Welfare to 3 years, max 2 children total. If the mother can't do it, full custody to the father. Family Court laws need to change too, if we dissolved No Fault Divorce there'd be less women requesting the government to be their children's father (food, medical and shelter). There, I said it.
Would have been nice if Trump didn’t lower corporate tax rate and not have a plan to reduce spending thereby exploding the debt
The debt did not explode until Covid screwed up Trump’s plans to get us out of debt. He didn’t get reelected and Biden kept spending like a drunken sailor. Trump plans to pay off debt by making the US energy dominant. Energy cut off by Biden exploded prices of everything.
The credibility of this channel's host is immediately destroyed by his display of this "national debt" that does not exist. This being the case simply because all of these pseudo national debt $s are in fact we the peoples' electronically generated $s that do spend exactly the same as we the peoples' forty-hour workweek paycheck $s, nonetheless we the peoples' electronically generated $s are all quite impossible to borrow or payback, for that matter, thus there really is no such thing as our having a national debt.
My full name is - Oscar Dean Windham.
End the fed buy bitcoin
End pensions. It’s unfair that some chosen people make $100k a year at retirement for life and others make $2k a month on SS
The US doesn't really care about debt, only inflation.
Coz you give pensions to immigrants who never worked in US. 😂
War comes next.
Well, what we ought to do is give the rich another tax cut, and cut services. Like social security and medicare. And make it illegal to complain.
It's just that easy.
Raise the age someone is SS eligible.
Why? We pay for that. Trying to screw us?
"I cut deficit" means I create more problems to spend more money to resolve the problems created😂