How Did Warren Buffett Know Stocks Would Crash?!? w/ Prof. Richard Wolff
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- Опубликовано: 9 сен 2024
- On Monday the Dow Jones Industrial Average and NASDAQ both nosedived, recording substantial losses totaling trillions of dollars. Other economic indicators remain poor as well, and despite what alleged efforts the Fed may take, the signs of a coming recession are impossible to ignore. One individual who anticipated the crash was billionaire investor Warren Buffett, who unloaded a substantial amount of his Apple stock holdings just before the crash.
Jimmy talks to Economics Professor Richard Wolff about how investors like Buffett help drive crashes, and why crashes like this are typical for a capitalist system and should be expected to happen every 4-7 years.
Professor Wolff on Twitter: / profwolff
Professor Wolff on RUclips: / richarddwolff
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CAPITALISM has not failed. It has been HYJACKED by ZIONIST TERRORISTS and our country has been subverted A CENTURY AGO. We are just their tax slaves at this point.
It’s not that hard. Price got far ahead of ability to pay as measured by GDP. Biden has ruined the economy and it’s ability to pay the bills
People keep talking about Buffett living in his old cheap house, but people fail to see that he owns a multi-million house in Hawaii (under his sister's name).
No way Buffet sold the day before a crash. If he did you wouldn't know about it until 30-90 days later after he files statements. He likely sold 30 days ago and you heard about it today....
Prof. Wolff sounds identical to Bernie Sanders. Jimmy loves a good con man.
I dont even know where the stock market is headed to right now. my portfolio of around 200k is not increasing more than 5% and people are predicting a crash .
i'd advise you redistribute assets in your portfolio with the help of a pro so you don't get burnt in the market
Accurate asset allocation is crucial, I used hedging strategies to allocate part of my portfOlio to defensive assets for market downturns. Expert guidance is vital for achieving this. This approach has helped me stay finan-cially secure for over five years, yielding nearly $1 million in returns on invest-ments.
pls how can I reach this expert, I need someone to help me manage my portfolio.
*Marissa Lynn Babula* is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the lead. I searched her site up and filled the form. I hope she gets back to me soon.
George Carlin.... "It's a big club and you ain't in it".
Bingo
More like it’s a small club and you ain’t in it……
I am. We have free cherry flavored jello every Friday night
democracy/republicanism and all the systems that came out of the enlightenment always reduce to control by oligarchy where they own the politicians and everything. monarchy was better. we made a mistake
"You and I, are not in that club."
This is called the transfer of wealth. From hardworking Americans to wealthy elites. Money doesn't disingrate into thin air.
You believe in thin air as your currency, then thats exactly what happens.
"Money doesn't disingrate into thin air"
Not just from average americans,from average people all over the world.
I am amazed they were able to sell you this 💩,and you bought it big time.
if u don't like it, don't play the market
Most money is literally created out of thin air by banks as "loans" and disappear back into thin air again when the credit bubble deflates.
Dont be too flatter with this man, Buffet is part of the people behind the market crash.
TRUTH!
Crooks.. all of them
"We are all in this together" - the 0.00001%
How come all politicians end up to be fr33masons? 🤔
Absolutely!
Sure, but at least their not Commie Crooks, the biggest bunch of crooks of all of history.
Their just big enough to manipulate the markets …
And pull profits, taking the little guys money
😢unemployed in CA sucks. Older family members here and high crime is crazy
The problem is THEY get out, crash it, then THEY use our money to fix it so THEY can get back in again. Then the game goes round and round again while THEY remind us sheeps to Buy and Hold, Buy more on the Dips etc... to build the pot to a juicy point again. Then the game resumes.
Absolutely. They expecting Israel war to get nasty
And watch their buy and sell orders. (Especially, what they are shorting... that isn't mysteriously 'cancelled...' so the contract is never fulfilled! Like say SLV, or Drumpf Medea, for e.g.)
Noob, I went 90% T Bills 3 months before Warren. Now I’m buying up UVXY shares and SH calls.
@@Sampepper102hope so
So true what you said
This isn’t capitalism. Capitalism failed when income tax rates went over 30%. Were in fascism territory where the corporations pay to play the tax game and lobbying game
Capitalism ended in 1913 with the creation of the Federal Reserve.
funny you used the word fascism...left or right, no one seems to think that under Biden, Obama, etc. But we probably have been in fascist territory for decades no matter whos in office.
It's not fascism it's Judaism.
I think this is the natural ultimate form of (poorly. improperly regulated) capitalism. Power accumulates as wealth accumulates, oligopolies, duopolies, monopolies and cartels form, which influence and control the polity to further concentrate power and support the wealthiest, most powerful entities, competition is crushed, and...
CRASH!!!!!!
@@RandomGuy010I like this response
I'm honestly so sick of all of this. One of the things that's been on my mind is participating in this political system is absolutely absurd. If it weren't for this political system and all of these so-called leaders having wars and conflicts with each other, the world would look so much different. What's the best way to fix a problem? To get to the root of the problem right?
The root of the problem is the system that everybody is participating in, everybody's like Republican, Democrat, Kamala, Trump, none of that needs to even matter right now. We don't need this system, this system is what is taking our children and using them as pawns for their greedy Self-Serving wars. People don't start wars governments do! None of us want this shit. I would say we should put the liters in a cage match and let them duke it out themselves and leave us the fuck out of it. But that's still allowing this system to thrive. By referring to these people as leaders or elites, We are silently agreeing to allow them to have that status.
If you take a look at history and you look at the current world, you will see a trend, and this trend is going to continue to repeat over and over and over because it is this system that is creating it. I don't think voting is an important thing right now, I think that's just further getting ourselves to participate in this system.
We don't need to be fighting about who becomes president, we need to be coming together to form an entirely new system that is actually ran by us and not by greedy people who have been raised around and with people that are already in power. Don't you guys see it? They are keeping it all in their family, they don't want newcomers they don't want anything To do with this new generation when it comes to putting people into power. They want to use their old people because they are afraid that new people from the new generations are going to come in and find out their secrets. They have to keep it in their circle.
This system is absolutely outdated and designed to keep us fighting each other and keep us going to war and losing our family, our sons and daughters.
Why are people for this? Why are we fighting each other over this election? Why aren't we coming together and demanding an entirely new system because clearly this one is absolutely fucked!!!
Say this with love! ❤
I love each and every one of you, and I invite you to come together with me to manifest a better world!!
So what system do you suggest instead? I don’t think the system is the problem. It’s the people who have power over it and manipulate it because the average person is disaffected and doesn’t care or know how to empower and/or enrich themselves or others. If the entire country actually got politically involved then we could bypass the two parties and put people in power who are actually intelligent and capable of doing the job. Instead people are just content with picking between the two crappy picks. The answer definitely isn’t to not participate. The answer is to learn the system and use it. That’s what blacks did during the civil rights era. They used the founding documents and the values inherent to our system to get their rights and desegregate. The NAACP fought a lot of court battles across the country to fight red lining and all sorts of injustices. If the system was able to empower second class citizens into being the president of the United States and members of the Supreme Court and congress. Then the system is capable of fixing our economic problems and rooting out corruption. The issue is motivating and organizing people to fight for that change.
Hunger Games
first thing to do is break ties with the FED. that's the root of it
Amazing post and so true ❤
Decentralized federation with an absolute abolition of career politicians, most decisions being made by ballot measure on the local level instead of representatives and politicians, and only temporary committees with temporary representatives coming together for national decisions, and only after being given a directive by a caucus or local committee in advance what binding decision they have to vote on at the national committee, no exceptions.
It's almost like they have insider information
The market rebounded today, big $$$ day
Not really, many people could see this coming, just like we see the crypto market taking the world by surprise within the next few months.
Don't get info from MSM and you won't be surprised.
@@Matt90541 They control the market while we speculate
Absolutely!
no . they simply make decisions
He’s sitting in a quarter of a trillion in cash. The fact that he sold stock was largely responsible for the dip.
creating a self fulfilling prophecy...
Setting up to buy the dip that he caused.
Thank you
@@Tim_the_EnchanterHe didn’t cause it, he just has so much money he can swing the market harder than most.
It’s not one boogie man, educate yourself, you’re thinking like a scared child with no world experience…oh…😂
@@AJohnSmith its the opposite of when elon said something about dogecoin.
The unemployment numbers only count those who were laid off and are eligible to collect unemployment insurance. This does not count the majority of economically displaced people who were fired, quit or whose company did not pay into their state's unemployment insurance. This does not, also, count people who have burned thru their unemployment insurance or independent contractors or small business owners. The numbers have always been fake or spun by the political powers to be for their own electoral needs.
You must understand that the worker does not pay into unemployment insurance, the employers do. They pay into an account and if a worker collects unemployment then, the company must repay those funds to their account. As you might think, employers will go to extreme measures to prevent their former employee from being able to collect like in firing them with cause instead of laying them off.
I haven't performed since March 2020. Lemongrass Restaurant won't bring back the Music. WHY?
Exactly. Couldn't of been said any better.
@@user-qi5oe8wb7b
What's the diff between fired for cause or laid off when it comes to collecting unemployment? Do you mean a criminal allegation being made against the employee?
@user-qi5oe8wb7b -- Factually speaking, the employee DOES PAY INTO their own unemployment via THEIR LABOR for which they were hired. 🙄🚩🚩 An employer would have no need to pay into unemployment without employees.
That blip wasn't a CRASH. Just wait...
Isn't it odd how stocks slowly climb but somehow they will plummet out of nowhere. Almost like a larger volume (higher $ amount) is being moved to being sold, meaning it was owned, and there's always a lower volume of traders that the higher volume relies on to make them money, whilst no one else makes money.
@@briondalion Finally someone understands what's coming. Stocks will tank more crypto will be the new monetary system if your still in stocks then you haven't done your research. The bankers messed up now is the greatest time to create life changing wealth. The sheeple will be wiped out but there will be those who took The time to research who will be the new 1%. Change your life by changing your habits. Instead of scrolling on Facebook or Instagram read some news letters from the banks or the govt. Learn what the fed is doing. They are t hiding anything at all they have been open about it all you aren't paying attention tho!!
@@briondalion
Same with gas prices.
Takes a month to drop $0.20
But it will increase by a quarter overnight
Exactly. We’re about to get wrecked.
@@briondalion That's why you invest in companies you like. Warren Buffet rule #1. Just be an investor. Your money helps them grow. Stop thinking of it like casino gambling. I'm helping Trump bigly and he's helped me, too. ;)
“They” don’t have to know when the markets are going to crash when “they” all collectively decide to dump stocks on the same day causing said crash.
Question is ...who's on the other side of that trade? Who is buying?
@@sevensages5279exactly. The Ponzi scheme is so large if any of them get out it’ll crash the market
That doesn't actually work unless other people sell after they sell
@@sevensages5279That's what I don't understand.
Nice profile pic.
Do you remember when a lot of people had NPC profile pics and RUclips started banning all those accounts?
Happened to me!
What about the House and the Senate. How did they do?
Pelosi is making bank
They're batting 1000 !
They're always up,odd how that keeps happening.
The fact that r Wolfe taught them in an ivy league school is scary
😂😂
He’s been selling for an entire quarter, not day before. Required to announce his position changes on a 13F filing every quarter. Which means he could’ve sold a month earlier.
What had a big influence was the interest rate change in Japan. Big investors have been borrowing in Japanese yen on a low interest rate, investing in western world, and when the western world increased their interest rates, other currencies got stronger against the Japanese yen. So debt pretty quickly became even cheaper to pay off. Essentially free money for those that got in early. Berkshire was one who did this. But so did many who had capacity to do this. Japan increasing interest rates meant that this arbitrage opportunity reduced.
I wish they could've included your comment in the segment for proper context. It's insane that the professor did not note this in his commentary on the situation.
Totally correct. I bought puts on Thursday and cashed them in yesterday for five figures. The lead up was real and I lost money in the last month, so this made up for it.
@@GameDevChad well played.
2x and 3x leverage ETFs on quality businesses might be good next few weeks. AMZU for eg
Awesome. Someone in the comments, who knows what's going on. Cheers!
Also, stock market is not the economy.
When average people have no money at all, the rich will need good security.
Pitch forks in hand.. the people historically burnt down the rich folks houses and watched it burn
They already do, its called the police and military.
@maxwolf8055 Unfortunately I think you underestimate either how rich the richest are, or how cheaply the bootlickers sell themselves out.
@maxwolf8055 Beautiful thinking there man. Yeah I would not spit of them if they were on fire.
Buffet is a member of the Committee of 300. Nuff said
Wish people would look into what that is and understand how everything is controlled.
🎯
Apple is insanely overvalued.
All the tech stocks bounced back since yesterday morning. I should have known
Crap company with very unethical business practices. Crap products, too, but weak-willed consumers get wrapped up in the hype.
@@user-no2zz5pu7j likely propped up by woke ESG money (see the budlite effect)
Apple is undervalued
@@hellogoodbye.Assembled in China 🤔🤡🤡👹👹👹
“It’s a big club you ain’t … “. Ah, we all know the rest. Regardless of the $$$, I’d rather be me than one of them.
The devil always collects
Truth be told, I'd rather be one of them, and so would you if you were brave enough to admit it.🙄
@@G360LIVEwhy project your beliefs onto someone else? Like OP, I'd rather be me than a soulless crony.
i live in poverty as far as money goes but i knew and i built my house out of pocket i have my own well and a primary power generator. i have enough ammo and my pantry will last almost a year. i am a HAM radio operator
so i am as ready as i can be, my property is paid off. i would much rather be me than them as well. cheers KL4UQ all the best from alaska. semper fi
"I'd never join a club that would have me as a member", Groucho Marx
No discussion, no debate, NO LEADERSHIP!!!
Does it matter. He’s above the justice system. No matter how much we know or talk about it, nothing in this system is going to change.
He’s required to report when he buys and sells on a document called a 13F. He sold April May June and the stock price was 20% cheaper than it was after this drop.
Look at why Japanese interest rates increasing mattered
NOT with the Temple BAR Maritime- Admiralty franchised "legalese" and banks (tied to the 800 year old: City of London) calling the shot$ in DC, at the FED, on Wall Street, etc. (Subordinate to Roman law of the "213 nation states and territories" land!)
The solutions to our problems will never be found in court rooms, protests or ballot boxes.
Because YOU vote either democrat or republican. Get together, invite capable independents and vote for them. Even ONE vote is a message
@@SimonFranck100 Voting is an immoral act of aggression as it is your attempt to utilize the state's monopoly on violence to force others to do as you see fit. It doesn't matter who you stick in the chair, so long as you raise people up on pedestals above you; you'll continue to be looked down upon. Government is the apparatus of control the elites use to keep us in line, it serves as a wall between us and the corporatists who are edging us ever closer to techno-feudalism. "It'll be better next time if we just vote harder!", if you're not a first generation citizen then your parents and grandparents likely thought the same thing; and yet here we are. This is the logical conclusion of voting, it is little more than the population running it's mouth while those who seek to subjugate it take advantage of the distraction of the absent-minded ramblings to further their agendas. So long as you vote, you deserve the abuse you receive at the hands of the state. You who uphold and participates in the systems which are used to enslave you have no right to complain about life as a slave. You have no right to complain about the person in office regardless of whether or not you voted for them because you legitimized the system by which they came to power with your participation. Wake up before you vote your loved ones into graves.
6uild 6ack 6etter BIDENOMICS
Dispensationalism is a falsehood
@@Doood692OK, still Biden’s economics are clearly influenced by the devil.
Got it!
When stocks go down, metals, gold and silver go up. Not this time!! Something is going on
People sell metals to cover their shhorts
they're gonna pump back the cash in the dip. my instinct at the moment is to buy. I sold Apple tho. It's just become too dumb and the idiots buying apple are a dying breed
they will blast higher once rates are down and things are recovering
It's called recession
even bitcoin went down. i don't even hold any crypto and I'm hella surprised.
Economics is a social science. They could have profited most on investing in us but they want to overhaul our behavior, away from humanity.
It's not even a science.
@@marcusjackman1487 It's mathematics, which is a branch of science. No economies are accounting for all the variables there are. Neither is our understanding of physics but surely to a lesser extent. I'll definitely give you that.
I don't need people investing in me when I'm not building or producing a thing for them to invest in. They can do what they want with THEIR money. Stop looking for handouts.
@@lookupverazhou8599😂 Anarchies never work, must be nice being lucky enough to e.g. avoid a chronic illness that makes you dependent and unable to work sustainably
@@lookupverazhou8599 No company does everything on their own. That’s why they call us, the workers, “human resources.” They invest more in machines than they do in the people actually physically laboring to make their dreams possible. The idea maker isn’t the only valuable person on the chess board, derkweed.
He halved his apple stake in the 2nd quarter. So he actually sold it a few months ago. It just got disclosed yesterday. Nothing mysterious.
Jimmy knows that and proceeds to this story
He knew it then or now? Why wouldn’t he talk about it now?
Really, Warren buffet is corruption Inc fgs wake up.
@@timmathews803 No he doesnt but he proceeds anyway. I studied economics and always surprise me that all leftie podcasters are obviously have not read 1 single macroeconomics book to save themselves from msiery.
This correction was one of the most obvious ones. It was at historic high valuations with worst market reports in the past 2 years.
The whole story is that the majority of investors are uneducated and follow the sentiment.
Any educated investor sold off at latest in July.
I think the disclosure is one of the things that add to the crash, why disclose now - the fact is the boom/bust cycle is what makes these people lots of money, the fact that they have the power to cause or exacerbate a crash and then profit from it is the issue.
Now, find out who has shorted the market on what stocks.
Find out that Wall Street Bets is doing and follow suite.
I'm just a fisherman living in the Ozarks, I have bought and held stocks for thirty years. I sold all of them two weeks ago. Pigs get fat, Hogs get slaughtered.
Wow… good timing sir. Gg!!
Of all the places you could've chosen to live...you decided to live in the U.S. base of the Navarro drug cartel? Dude....
Enjoy!!!!
Jim crammer sucks.
You need to hedge against inflation as well so I'd suggest looking in to getting some precious metals if you're all cash exposed to inflation.
The SEC needs to look at Nasty Pelosi’s trades the day before too
20% is the real unemployment rate
Probably higher....
@@davidnoah9560 depression levels ---- don't panic !!! all is well !!!!!
Passing 35 trillion on the debt calculator on Friday plus a bad jobs report and economy = Not good
😂 new country needs greenbacks called Argentina 😮
If a publicly traded company chooses to outsource to cut cost, start with outsourcing the CEO job.
@@Russo2024Zir agreed 💯
@@russellromig8969 Argentina is using USD now where do you think that they will get them from??? Other than the FED!
They printed record amounts of money. It’s not that complicated folks
stay homeless stay safe
We had trillions in QE with 2% inflation for years.
@@NathanAnderson-kl2rfIt wasn’t really 2% inflation and it wasn’t 60% of the all-time money supply in 3 years
@NathanAnderson-kl2rf That's not the real inflation rate. They lie in any way they can. They can not lie about how much money they've put on the books. There's a collapse coming, and there's nothing they can do to stop it and they know it.
@@eag8999 More dollars were printed under QE under Obama than there was previously in existence, combined.
1913: Full employment
1946: maximize employment
Looks like lowered expectation has been a trend eversince..
Communism pretty much hammered the final nail into the labor-value theory coffin... so yes?
Full employment is bad for economies. If everyone's at work, there's nobody in the shops buying stuff.
@@pseudonayme7717 Dumbest fucking thing I've ever read. No one works 24 hours a fucking day.
To be fair, Warren Buffet began selling stocks 3-4 months ago, & I’ve heard several market analysts warning that the stock markets were overheated
Exactly.. anyone that had been paying attention knew this was going to happen. Especially with computers these days these guys can take in a massive amount of data and get a good idea what is happening. It wouldnt even cost all that much to create a system that could copy what the big players are doing. To do high frequency trading would be much more expensive but if you dont need up to the millisecond data it would be pretty cheap. It also takes a little bit more work when you are someone like Buffett since they are buying and selling at such a high volume that they cant just dump things quickly.
Yep, when I saw the big tech layoffs and car market panic at dealers, it became clear the gig was up.
Exactly!
He has the best insider information money can buy
it was.. it spiked again due to another wave of over optimistic speculation.. going through another little correction..
Because its the people with all the money that crash them?
Duh !
🎯
They initiate it, then the media creates fear so the little guy will sell in panic.
It's what the bankers did to Germany in the '30s, caused a depression. The Germans blamed the Bankers, who happened to be be Jewish.
@@chuckchambers9565 It's called short selling.
We don't even have true Capitalism.
it's definitely corporate fascism. Just leftism for the elites. leftism always fails, we'll have the last laugh
That’s what it is
Not even close to capitalism
@@user-ol3vf8xk7zthere's no true capitalism
True capitalism means government regulations equally on all companies without any bias
Practically it won't happen
Coz there's no accountability.
That's why this system needs to go away
Except war i don't see any solution to it as of right now
you nailed it.
Richard David Wolff (born 1 April, 1942) is an American Marxian economist known for his work on economic methodology and class analysis.
We could tell.
Uh huh because the democracy economist tells the truth just nothing but the truth right?
What a slanderer
In other words, an intelligent, aware economist
The theory of capitalism is not an issue. The issue is the fact that we the people have allowed private central bankers to control the flow of currency in the United States in the world. Those particular people and the people that they manipulate like puppets are corrupted. In the capitalistic system, it’s our job to expose the corruption.
Exactly!
True, but you have to keep in mind that Wolf is a Marxist. We have way too many of them that came from E. Europe and they have RADICALLY changed the political and financial system. Those of his ilk have hijacked this entire country. But you can't say anything or you will be labeled an anti-________.
Cronyism, sellouts, and improper regulation is the problem. Most don't know the real reason for WWII GDR either, wasn't what you were taught.
You are correct. Capitalism is not the problem. Is the gun or the man a murderer?
they control some of the flow of currency by controlling the interest rates the FED has NOTHING to do with our country or the well being of our country
Privately created money is capitalism
@@waltergoring8428 Not if you're forced to use it. If it's merely an OPTION, then yes.
Imagine believing in the stock market
It cracks me up reading people trying to work out the fictional 'Market forces' 😂
Your statement is ambiguous. Theres a stock market. Its real. But it can be manipulate. Its illegal to manipulate it. But when you have more money than God, you can cover your tracks
the market is always up long term. after a century the crash before the depression is a blip.
Imagine not😂 . I have money from 10 years ago that couldve 1000x . Imagine not buying FB before it was META
Where do you park your money?
I love how hes literally sitting there explaining what is going on, while simultaneously saying he doesnt know. If he knows so much about how all this works.....HE CAN DO IT TOO.
Sell high, buy low. It's no secret. But the Stock Market is literally a ponzi scheme. Maybe some people don't want to be involved in a ponzi scheme, ever think of that? Over 80% of stocks are held by as low as 10% of the population, so it is a game played mostly by the rich anyway, and it is just gambling.
Not everybody who understands things exploits it to get rich.
He is just a typical left-wing ideologue. What he says might even be true .... but he has no solutions. If anything his ideology is the major reason for the economic problems
its almost like this isnt really how it all works... 🤦🏼♂️
He doesn't want to commit to a hard answer and have the guilt of people either losing their savings or crashing the market in a panic. I don't blame Wolff. Would you want to set off the next Great Depression?
@@Charlotte_Martel You think Richard Wolff could crash the stock market? Lmao. His audience is angsty teenagers, not people with money.
My heart literally shattered @12:30 & yet simultaneously healed from the kind of humor that only JD brings… Total yin & yang of devastation mixed with bliss ☯️ I don’t think I’d be able to survive this world without you JD 💖
They're describing central planners doing a poor job of planning and calling it capitalism. Their solution is more central planning.
Yeah, you see THEY know how to pull the levers. Infinite knowledge fantasy is how millions eventually starve.
@@hybridousidiot alert, put on your safety glasses
Well, well, well! Someone is talking about the creature of Jekyll Island again, but the creature doesn't die, it's immortal.
If it bleeds, it can D/e
Maybe not immortal. Its appetite compels it to eventually eat itself.
11:20 Yellen going from Fed Chair to Treasury is the definition of corruption!
The government is a service institution for the capitalist class in a capitalist system.
It's called capitalism because capitalists run it for profit.
Economist here and well predicted this like many others. Here's why:
In the last rate increase, September 2023, Powell said they need close to 2% Inflation and this happens early or mid 2024. So the market started to boom.
However, due to energy price & other factors, last month inflation was 3% same as Jan.
Yet, the market was and still is at historic level high.
If we wanna just return to September 2023, a 15-25% drop should be anticipated.
So yes, that easy and obvious. The numbers never lie.
Cherry picking is a logic fallacyDunning-Kruger in full effect!
So how much did you make on this run? Certainly you’re fabulously wealthy since you can effortlessly predict the market?
Back in the day, I tried and I can tell its very destructive if you can not invest all of your time on it. You will lose or win by luck. Everybody knows it, yet when you in it you do the very same mistake...
The main thing actually about Warren Buffet is not his business knowledge, but he is the symbol of being fearless, research based analysis and to be extremely patience (i.e, his firm bought NVIDIA when it was 2007)
Thats why If I had the money, I was probably not brave enough to accept the truth like warren buffet. Its not easy to sell off when he did, and the market is still going up).
So if whenever you wanted to invest, put what you dont want, like charity, and imagine a good return takes maybe 3 year for a firm. With that in mind, I strongly suggest people to exactly buy stocks like Warren or use "Copy Trading" on Etoro and distribute between different traders.
So all in all, people who work 50 hrs a week on this topic, let them make money for your without paying them .
Hope it helps @jonnovak6856 No dear.
Im 31 and work in the startup ecosystems, and I lost my last job like many (Germany). Its been 6 months now. Thanks to NATO.
But the pricks presenting them usually are. You can make numbers say whatever it is that you want. Interpret it to make yourself look good, or the next guy to look bad.
Economics is not a science.
Buffet saw Japan raising rates, (second time in 5 months, first two times in 17 years, unwinding the carry trade) and knew what that means.
It’s hard to explain financial events to people who lack economic literacy. It’s easier to explain events with overly simplified narratives of capitalism, instability, too much concentrated wealth etc. Richard Wolf is just that one person who won’t let an issue go because he is wrong.
@@pablolasha238 I kinda stopped listening to wolf after a couple minutes, because like you said, he was just keeping it so dumbed down - every 5-7 years huh? Care to elaborate why?
@@mrpeanutbutter6257 the funny thing is that for the last 2 decades the government has done everything in their power to avoid any real correction, making the situation worse. You can expect a problem is the government insists on propping up assets that shouldnt even exist.
@@mrpeanutbutter6257 the funny thing is that for the last 2 decades the government has done everything in their power to avoid any real correction, making the situation worse. You can expect a problem is the government insists on propping up assets that shouldnt even exist.
He is the stock market
George Soros 💀☠️👹👹
Him selling stock is what caused the crash. He has spoken on this being a possibility quite a few times more along the lines of buying, and how it drives prices up because he’s able to buy so many shares.
The history books are loud and clear, thought altered and obfuscated in many areas, typically the patterns are difficult to hide.
Investors see patterns. The best see them first. The greatest study the systems that generate the patterns.
the writing is on the wall so when he began to sell, the market began to sell.
It's not his fault. Stock is nothing but a rigged game. Besides, why invest in something closely tied to the toilet paper $
"My spirit will rise from the grave and the world will see that I was right."
The Austrian vs. The International globalist banking cabal.
All those soldiers who died, only to give their countries away to the real enemy.
❤
who said that?
The demons at Blackrock told him to sell !!
What's just as sad, most Americans live pay check to pay check and can't put money in stocks or other investments.
A reminder we don’t have free markets
Buffett is a market influencer. If he buys, the rest will buy, if he sells the rest will sell. In 2009 he single handedly stopped the crash with starting to buy shares.
He didn’t STOP it, it had already happened. He made bank by buying at the lowest level which led others to also start buying back in.
@@ktrimbach5771 exactly. Buy low sell high.
his hedge fund is performing less than an index fund. 10% in 3 years?? The past 3 years was EAZY. I see many funds with billions of dollars that managed 110%. I did 60% just by holding a Vanguard index. I'm guessing he has a public and a private fund. if he's really as smart as they say he uses the fund to manipulate the market for his buddies and keeps his cards hidden for the real profits. but idk
Buffett is a crook
This isn't capitalism. Look up the definition of capitalism and realize that there is literally no economy without government jobs, government subsidies and government contracts. Stop arguing over capitalism, that's the psyop
Fascist-capitalist
Capitalism leads to this! Please stop the magical thinking "NO TRUE SCOTSMAN LOGIC FALLACY"
It's not even supposed to be called capitalism, it's called a free market. Marx called it capitalism, you need to correct it immediately, or when you're debating you're already arguing on their terms
I did not know that! Thanks.@@padraig5335
Lmao ffs that’s the exact opposite of capitalism.
I remember my mom explaining how some of the Jewish shop owners in Milwaukee would purposely hire many of the German immigrants coming into the city then pull a fast one on not paying their SS taxes. My Grandpa was one of them who worked for the same bakery for decades only to find out he had no retirement benefits when he retired at age 70.
WTC remembrance.
Oy vey fellow (banned word on youtube)
Jews being Jews
That sort of sounds like revenge.
Sorry to say, he shudda checked his pay check, learned the laws, and never trust a stranger with your money
Its called INSIDE TRADING
Heard Buffet said weeks or months ago he got out of the market because it was overpriced and nothing of value to buy at a good price. My lady had got out of the market about a week before Buffet spoke about it.
Exactly, he's been saying for months that there are very few good values in the market. Amazing that he actually takes action on what he believes......
M'Lady sounds like a good catch.
He gets the news from other sources than RUclips and controlled media, he has politicans and CEOs in his pocket, once he feels the danger, he gets out, prices drop and clean every naive dreamer's pockets, waits until people get fed up and sell their stocks because they can't affort to lose so much, then he buys them at bargain prices and there we go again, same cycle repeats itself for decades, the whole stock market is one big ponzi scheme, you can't compete against hedge funds, bankers and other whales, they know whats happening way before you do.
On the other hand if you would've had bought gold in 2015, you would've more than doubled your money, but people buy the getting rich fast nonsense, every single time.
Youre special lady
I went 90% T Bills 3 months before Warren.
He blames Buffett but ignores the collapse in Japan. There is inflation because we make magic money thru him government spending and fractional banking.
He didn't blame Buffett. He pointed out that the Oracle of Omaha pulled his money in preparation for the coming crash and it caused a premature crash as Buffett has more followers than people expected. That's not Buffett's fault. That's the US economic system's fault. Japan runs a US economic system minus the natural resources of the US. So they tend to crash before everyone else anyway. But they also recover faster than everyone else. So they tend to get ignored.
The bound Rate is Key
@@Dryltd I pulled my money too. I went all cash last Thursday. Because the technical indicators and price action indicated that the magnificent 7 were weakening for the last 2 weeks. The mag 7 hold up every index we measure in the US. Apple in the DOW but all 7 in SP500 and NASDAQ. I thought it was rotation to smaller cap companies in the Russel 2000. The collapse was due to the bank of Japan raising interest rates and Yen over the last 2 months. Japanese traders were borrowing free money in Japan to buy US stocks on leverage. The BOJ actions forced a squeeze at 100x the actual principal of the loaned money. So they had to sell US stocks and everything else to cover their loans. The market cap of Apple is over 3 trillion dollars. Buffets sale was engineered to not move the market at all. He doesn’t don’t sell it now the exchange because he would have lost money. He sold it privately so as not to crash the market. He sold Monday and reported Wednesday because legally he had 2 days to report the sale. Wolf’s entire tirade is absurd. As is his opinion of price gouging companies causing inflation.
@@holmesgormerley308 yes but in this case it’s the raising Japanese bonds. The FEDs a bad joke but it’s federal government spending that’s feeding inflation. The Fed just keep trying to respond using inadequate tools.
AAPL dropped by 9% while the other big tech dropped by 5-6%. That difference can be attributed to Buffett bailing on the stock.
It's pretty well documented that Buffet has been selling his holdings for the past 3 months up until the crash. You don't dump all of your holdings at once, you'll get screwed on the price. He's been selling a little at a time each day.
Side note: when people say dopey things like, "how could he possibly know?!" It's called technicals. He read the charts correctly and acted accordingly.
Yep never trust a Marxian economist's explanation on what a capitalist has done I think there mode of thought is similar to the Dems saying vote for Kamala because at least she is not Trump
Marxist economists are like follow us as at least we ain't capitalist's
Exactly! When you're selling millions of shares, you can't do it in one day. These "click bait" titles get more view though.
That’s why e is worth $277 B!
he also has inside info on the stocks he owns. he knows which companies are overpriced pigs.
Oh geez! I don't "read the markets," but many of us, including me, saw this coming.
Stock buybacks need to be made illegal again. And the workers should retain controlling interest in the shares of every publicly traded company. And outlaw hedge funds.
You would need stock buybacks for the workers to own the majority stake of companies. I don’t know if it should be a law for all companies to have their employees own 51% of the company. But it should be encouraged with tax benefits or some sort of subsidy. As for hedge funds. I think they should be limited to a certain amount of money. Like a billion dollars or something. They need to be decentralized and monitored by the FEC with a clear set of laws so that the public can see the filings and know if the FEC isn’t enforcing the laws. But I don’t believe there’s anything inherently wrong with having someone who is educated and capable to manage people’s money. The issue is when the person managing the money uses it to manipulate the market or influence business decisions. Which we see a lot of. I mean the world economic forum openly talks about using asset management to subvert governments and influence society as a whole. Which is just nuts to me. But yeah companies like blackrock, vanguard, state street, and all the others need to be broken up. I want to say blackrock manages the funds that own something like 10% of the entire S&P 500. Which is wayyy too much power and a monopoly. Also a lot of the money they have are people’s pensions and stuff where they don’t necessarily have a choice. So the company is influencing the market and society in a manner that probably conflicts with a large portion of the people who actually own the assets they manage.
Capitalism and Socialism ( Communism) both work with central banking. Central banking is the problem. Richard Wolffs ideas will ultimately enslave everyone with socialism and then communism. Just a different side of the same coin.
Alongside corruption, you are correct imo
There is a reason that Central Banking is an essential pillar of Marxism...
It's not thar he knew it's that HE CAUSED IT by selling his stock . Everyone else copied
It's easy to paint that narrative after the fact.
What about the hundreds of thousands of us that saw this coming 3 years ago as well?
If you study the markets, it has been overtly clear that it's inflated beyond belief, and MUST correct towards reality, even if it's just a little.
Too obvious.
@@DJarvisOfficialYes you're exactly right and this is why Warren Buffett sold his stocks and this is why the collapse happened was because Warren Buffett selling his stocks was a huge indicator that the collapse was happening. It's like which came first the chicken or the egg
@@DJarvisOfficial you are missing the point - he knew _when_ while you only knew _why_
You aren’t the Oracle of Omaha. You can tell everyone in the world you think it’s going to crash and no one gives a shit. When a guy widely regarded as the best investor of all time sells people take that seriously
@@DJarvisOfficial Three years ago you knew which one particular day the market would be down? Seriously doubt that...
In a capitalist society you don't print money
Printing money and giving it to the reach, while making it "trickle down" to the rest of us very much defines the capitalism. Earlier it was resources, now it's every productive resource of asset class
@@SimonFranck100 First of all learn how to spell second of all I will bet you $100,000 we do not live in a capitalist societies S ended in 1912 to 1913 when the federal reserve was designed do your research
Wolff is brilliant.
Like Nancy always knew which one would go up. Not rigged at all right?
"We can manage the economy" Hillarious- managing the economy is what blew up the bubble. Buffet simply took out a pin big enough to pop it.
The guest ignores that Jerome Powell is the person that’s moving the market more than Buffet is.
He’s a socialist. I don’t think he knows about the fed and how it rigs the game. He’s over here complaining about capitalism. Lol
@@fab9223Yeah, that's why I don't give much credence to what this guy says. Socialists aren't the best at understanding how money works.
You’re ignoring that Buffet is reacting to market conditions, the same conditions we can all react to. Warren sold months ago. Powell also reacts to market conditions.
@@fab9223 Janet Yellin WAS head of the Federal Reserve. Wolfe went to university with Yellin. I think he understands the Federal Reserve.
I love professor Wolfe.. been listening to him for years now and I'm so glad to see him on Jimmy's show. You guys were made for each other.
Buffet didn’t sell half his Apple “a couple days ago”. He’s been selling it over the last two quarters.
Can y’all read a financial report?
no shit would be impossible to sell that amount of shares in couple days he was selling it last year.
The point is he knew this will happen soon
Richard Wolff is a Marxist economist, of course he can't.
@@whatzurexcuse3035
I think the bigger point is that Wolff claims that Buffet very quickly sold off half his stock to cause a drop in the market, then just as quickly bought back more stock at a lower price. Seems to me like Wolff doesn't know what he's talking about. I think Jimmy has him on because he doesn't like capitalism, not because he really knows anything.
@@whatzurexcuse3035 i knew this was coming. Easy to see if you pay attention, just look at all the layoffs this year, literally gave me 2008 vibes.
Getting screwed over on every front.
Professor is right. Warren Buffett should not be allowed into this state.
Capitalists are obviously the ones controlling the markets because competition creates massive wealth in the hands of few winners who then can use that power to steer markets as well as politicians.
Capitalism.
What a surprise, rich people having advanced knowledge and what's going to happen with the market...
It because everyone big was borrowing japenese yen...they had to sell stock to cover the rising Japanese intrest rates.
Finally someone on this thread that has a clue!
why were they borrowing japanese yen
@@JohnBrown-vn2qw The rate to borrow the yen was near zero percent. They are raising the interest rate now
When I’m 100 years old, wealth will not be a priority
At that age making it to the bathroom successfully without messing on yourself is the priority.
My dad passed at 96. Trust me it’s not fun to live that long …he couldn’t move any more , lost an eye and part of his face skin to cancer …he often had delirium where he spoke a bunch of nonsense with incoherent speech …it was rough. I think anything between 80 and 86yo is more than good enough for most of us 🤷
@@FactsMatter999 --I agree big time!
My neighbor who was 97 (lived alone) was wealthy and appeared not to be in physical distress but he had enough of life and wanted to depart so "he made that happen."
There comes a time when the thrill of living is long gone and there is little to keep you plugging along.
I gave up looking and started mowing for a living. Went from a 100k a year mfg job to unemployed and couldn’t find real employment again.
Hey at least you’re employed
@@frederickmuhlbauer9477It’s great.
@@frederickmuhlbauer9477 He clearly said he is unemployed now LOL
Sounds like you arent very bright
@@dannyt1705 No he said he is mowing lawns That’s not unemployed Read it again lol
Technically, a loss isn’t a loss until you sell the asset/equity for LESS than you paid. Which is what the insiders (like Buffet) want people to do. Then they swoop in after the dust settles to buy the same assets for pennies on the dollar. Same game, different faces, as in 2008-2010. Buy and hold.
Right. This guy’s telling people to get out of their stocks. It would be a horrible idea to sell during a recessionary period. Shit my dad has invested in mutual funds and just never sells. In 2008 his stocks went down 180k which was how much we sold our house for a few years prior. But he didn’t sell, in 2020 his assets went down like 300k in a couple weeks. He didn’t sell. The market can crash like 2008 right now he wouldn’t sell. He would just let it be until it comes back and then it’s always come back twice as strong. My dad never made more than $30 an hour. He broke 100k maybe 7 times in his life. But yeah he just bought mutual funds and did basically exactly what warran buffet said for someone like him to do. And he’s got like 3+ million in stocks he divorced my mom like 15 years ago but my mom has a house that’s worth around 700k and his house is worth about the same. He was fortunate that my grandma helped him and sold him my mom’s house for cheap back in the 80s and helped him finance his house 35 years ago. But yeah she also helped him buy a house at 20 years old that he rented out to pay the mortgage and still lived with his mom. So that helped him a good amount. With the real estate. And investing. But yeah buying into a mutual fund young and letting it grow is the way to go if you can. You could work part time in high school and invest 50% of the money and if the S&P 500 behaves how it has for basically the past 80 years or something like that. Then you would retire at 65 as a millionaire without putting another dime towards retirement. Just ignore all the crashes. The greedy people in charge of those companies aren’t going to all go under. Maybe one or two but that’s why you buy a mutual fund.
He said a big part was due to future tax mitigation. Meaning he sold because he'd rather pay gains taxes at the current rate vs if Kamala were to win. Not saying there wasn't inside info, but that was definitely a factor
He may have known Japan was going to raise rates, which was a huge reason for the Market sell off
@@ericheick7044yep. And Berkshire were one of the original players arbitraging Japanese yen a couple of years ago
The answer is definitely not socialism
dont worry, RIchard is a Communist... and that always works out fine
i've never been pro socialist policy beyond basic things like roads, fire department etc. But for the first time ever I think we need a policy that targets the billionaire class of Buffets and Finks. They need to target, punish and stop institutional investment companies owning of residential property like it was the oil they want from ukraine. This would technically be socialist in nature and i hate that fact
It's absolute monarchy. Those who know, know.
Ethno National Socialism. China is the proof.
@skippypeanutbutter9136 RFK Jr is the only candidate speaking about reigning in Blackrock, vanguard, etc from buying up property and housing. Check him out!
I would like Jimmy to study Austrian Economic instead of having people that push price controls. It is one area that he needs to explore
Jimmy is not going to turn into a "free market" fundamentalist AKA "neoliberal" -- anymore than you're going to convert him into scientology. 😂 That would be my guess, anyway. Good luck.
Really, why would he, he's not a financial expert, that's why he has financial experts like professor Richard Wolff to inform us
@@randygraham926"neoliberal?" You mean markets where competition and innovation thrives due to having more choices? You have your terms and labels mixed up my friend.
The increase in rates has been a thorn in the side of corporations. The cost of borrowing money has increased and puts pressure on profit margins. This, plus the slowing economy and declining sales, has led to layoffs. HOWEVER, the rate increase has also allowed folks on a fixed income, to keep money in Bank CD's earing the most amount money in 17 years.(4-5%) When the FED keeps rates unnaturally low for so long they help corporations and politicians borrow money, run up debt, and get into trouble. Now that rates have finally begun to normalize, this benefits people who want to save money and keep it out of the Wall St. ecosystem. There is never a correct solution, only tradeoffs. Rates going up hurts people who want to spend money and helps those who want to save.
its so weird that criminals don't obey laws
It’s hard to listen to Richard Wolff because he knows all the problems. But his solutions are wild. He talks about the “inflation of 1971 was ‘managed’ by a price hold” but doesn’t explain what the he’ll caused it. What else happened financially in 1971??? Huh?
The oil, energy crisis ?
The decoupling of the dollar to gold ?
I look forward to Professor Wolff's wise management of the Bread Lines which would result from listening to his economic advice.
Legitimately. His economic policies are DANGEROUS if you enjoy eating…
@@PorkRoll_F3 He must know that price controls lead to commodity shortages, yes?
@@PorkRoll_F3 You seem scared of learning Marxism and about social ecology or viable system science. Do you think calling capitalism unsustainable is going to cause capitalism to manifest as a giant beast and come eat you alive? If you love capitalism and hate socialism, what examples of beautiful free market capitalism do you see? Or what would you propose as a better system?
@@payleryder45 What he really wants is for people like him to be elevated to positions of power based on his ideology
@@gdiwolverinemale4th He says Capitalism is unstable. Even if this is true, his beloved socialism is stable - it's a stable state of deprivation.
Say "goodbye" to your 401k and hello to "poverty".
America was not founded as a democracy.
America is a constitutional republic.
Learn the difference.
WAS... If you know your history that ended with John D Rockefeller and all of the OLIGARCHS buying up the politicians !!! But you're right we never have been a democracy
Constitutional is the key phrase - whether it’s a democracy or a republic. And the judicial system has destroyed that over the years with standing and latches and non-jury trials.
@@donniehenderson1916 Its a colony of Anti Christ, everything is decided by Anti Christ and his puppets carry it out.
So what? I don't know if you've noticed but the Founding Fathers are dead. And it's been quite a while. I mean even Abraham Lincoln, the 16th President of the USA has long been gone. If we like that he helped end slavery, should we still look to his leadership for how to govern in the 21st Century with computer technology he knew nothing about?
The problem today is the socio-economic system is incompatible with human and planetary health and well-being. We need system change or problems will just get worse. What worked in the early American days is not necessarily applicable to today. Learn from the past, sure, but build to the future with a new viable system in a collaborative manner.
Or don't, but letting the establishment system keep running unopposed is going to be an extremely bumpy ride.
…but the facts won’t match the “Bewildered Herd’s” illusion.
Most Americans live on Fantasy Island, they don’t know their Constitution, which btw was written (unsolicited) by a bunch of Landowners and Men of means.
There was a very good reason to adopt as Model Rome, a Republic not a Democracy!
Oligarchy
The culprit is the fact that our admin printed so much money, it's now worthless. You can't tax your way out of this.
Capitalism isn't outmoded, government spending is killing us.
They don't "print" money. Commercial banks just enter numbers into accounts on computers when they create credit/loans/debt.
Says you.
@@pickettmandi Lol, if you're too lazy to even find out and rely on YT comments to understand money creation you're beyond any help.
"Loans create deposits" - Bank of England
Money creation in the modern economy
@@mark_2 I wasn't replying to your comment Mark. I was replying to the original comment. I do know about fractional reserve lending and what a fiat money system is.
@@pickettmandi Got it!
He's from the future and travelled back to our time. So, he knows exactly what will happen in the markets.
Its not hard to understand the greed of CEOs and the elite causes these problems
No if they're not maximizing profit they'll get fired.
It's an economic system that creates those circumstances, rewards greed and punish altruism that is the issue.
Capitalism.
Remember that one time that Richard Wolff dismissed all the casualties of Stalin's regime as an uninteresting variable to judge a society by? I do!
I will forever identify this dirtbag by that very evil dismissal.
He is a Marxist spewing economic illiteracy
please, refresh my memory: where and when did he make that statement? i don't particularly like the man but i have heard him say many things, but i don't remember that one.
@@rickducharme7429 it wasn’t in this clip but the OP is 100% correct, he literally shrugged off in an overtly flippant manner the 100 million dead as a direct result of the same Marxist idiocy he promotes to this day.
Pepperidge Farm Remembers..
Tribal thinking ...oy vey
Jimmy, you forgot to mention that the Fed is safe and effective and that everyone should take it.
Warren Buffet has been talking about how the market is over valued for a while now.
Also his selling off of Apple stock could have caused the crash in part because people trust what he things and follow what he does.
What? The same company dumping stocks was the same company buying them. After they took put options knowing they will dump stocks and still make a profit. For Gods sake this whole thing is rigged
Warren Buffet says a lot of stuff and then does it anyway
He would've been the richest man in history if we didnt bail out the banks in 08-10. Man never is in a bad position when the market goes under
It’s okay the rich don’t play by the same rules, it’s not insider trading unless you’re broke
Ptobably called his drunk friend in SF. The most prolific stock picker in history.
It’s great that you are giving people a chance to hear this Jimmy!
This was a terrific interview, thanks Jimmy
That’s not how inflation works jimmy. Inflation is and always will be a monetary phenomenon created by the federal government
😂
It’s not just the non-gold backing that drives it. It’s the “velocity” of money. Throwing a ton out there is *going* to drive up inflation. Increasing workers wages (which Covid effectively did) WILL drive up inflation.
Two things will reduce that: 1. The price of oil. Everything is “indexed” by the cost of energy and 2. a real depression like the one we are heading into. Eyes Open. No Fear. We’ll make it if we’re wise and prepared.
A resident of a state has the rights to that States Mineral Rights. Each resident of that State receives a percentage of the sales of said mineral rights. Their is no reason for Unemployment and poverty for these same residents. No more Corporation GREED
wouldn't that cause a mass shift in population from states with little to no mineral reserves into states with deep mineral reserves over time? ... that feels like its going to cause some issues further down the line
Central banks are the problem, not capitalism.
There are only central banks in capitalism, and always will be because central banks is what successful capitalists always end up establishing. And stopping them makes it no longer "free markets"
Issuing of fiat currency and fractional reserve banking are the main mechanisms of wealth transfer.
The FTC is supposed to stop monopolies and ETC. They have been hijacked like all other 3 letter agencies
@@rootbeer4888 in a broken system, yes. In one functioning properly commerce is the main mechanism of wealth transfer.
Where is the beautiful capitalist utopia where there are no central banks and free, free market capitalism thriving? Denmark? Finland? Costa Rica? Where?
Richard Wolff is a terrific guest. I am so happy when you have him on, and I will always watch the show when he shows up.