How Unfunded Pensions Will Destroy Your Retirement
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- Опубликовано: 10 дек 2024
- 🔥 Get FREE ACCESS to Real Vision rvtv.io/3Y4t5Pw. How can ordinary people behaving rationally create a generational threat? Raoul Pal, in his role as CEO and co-founder of Global Macro Investor, joins Real Vision to explain the interconnected problem of the everything bubble and the coming retirement crisis to answer the question, “why do we invest?”
He explains in detail how the baby boomer generation, through the rational and reasonable behavior of seeking to live and retire comfortably, has fueled the creation of a massive financial bubble that touches nearly every corner of the economy as pensions take more and more risk.
Pal breaks down the crucial demographic, economic, and political trends that have combined to create the problem and suggest potential solutions for Baby Boomers, Millennials, and Gen Xers to get outdoors before the fire of the coming recession. Filmed on February 4, 2020, in Grand Cayman.
#RaoulPal #Pension #retirement
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My husband and I live on our daughters 10 acre farm. 3 generations together. We each have our own space. It's a win/win for all of us.
Way COOL
Good for you. This wouldn’t work for all family situations but if you can and it does I think it’s amazing. Other cultures from Europe, Asia and Africa have been doing for centuries. It’s coming time for us in the West to adopt this.
That's my plan in Ireland. Desperate to get there in time with a nice big tract of land. But I'm young and don't have the capital. Hoping I can get it together before things go bad.
@Jim Jim well, we will share what food we have. 10 acres is a very small plot of land. But, I imagine city people would find it to be substantial. We do have a resident elk herd that runs in the valley. So plenty of meat for when times get tough.
Beautiful and wholesome
I had to quit my unstable job of 28 years and retired early, sold my apartment in Honolulu. Cashed out my pension, moved my 401k. I can’t afford to live in the US, my cobra payment was 600 a month , now it will probably be $1400 a month. My home state is Hawaii, totally unaffordable. So I joined my family in Thailand. The best decision I ever made. No more financial stress and anxiety. I also realize that I am very lucky. Great video, thank you.
i will follow you soon. (to Philippines )
so basically...you're an economic refugee?
@@bluesclues132 he’s likely to be living a better quality life than you. I did the same as him. Best move of my life
Fair play. Not an easy decision to make, so very brave.
I always thought my mom was annoying untill I found her dead from a heart attack. Shame and guilt will haunt me forever.
I have studied finance for 40+ years. This is one of the best summary descriptions of our financial markets I have ever heard. Great job!
Agree, this was no less than awesome
I have studied finances since 1800 and this guy is awesome.
@@sparcx86channel42 what does those book say? Please share some of that wisdom with us here.
is there a solution about what we should do in the answers section in any of your finance books???
I first learned of economics when i was in England in 1968 and heard that the British Pound had been devalued, and again a year later when I saw a new suit in a French store window for 16,000 O.F. (Old Francs), and 160 N.F. (New Francs), when France also devalued their currency a year later. So I went to work for Wells Fargo Bank in S. F. when I returned, and spent my spare time in their library. We thought there would be a serious shake out in 1978/1979 but the Fed inflated again, and again, and again........ until now we're into the Trillions of dollars of federal debt. Who can imagine a trillion of anything? So I thought, well I'll be dead and buried by the time this thing blows up, but no, I'm still here, storing up food and silver coins, wondering how crazy it will be!
Perhaps the greatest analytics per minute in the past 11 years
Raoul's analyses are awesome, but he's based in a tax haven. Everyone should listen to Macro Voices instead, or check out Lyn Alden and others
, people who actually have skin in the game
...seriously, this video is super-dense with meaningful data, interpreted clearly, bravo!
Ive completely changed my view of investments in the past 5 years and my life. I used to embrace corporate world, was part of it, owned stocks, took dividends, paid high rent, worked long hours, but traded it all in to move from London, own my own property liquid, set up my own business in spain, and moved investments to gold and some into crypto. A HUGE change. I now loathe banks, mistrust the media and politicians, and can see a crash coming which not even my own family can see. I can breath again, with ZERO debt and six figure savings. Great clear factual video.
I went gold and silver as well and pulled out of the stock market it is dangerous and unpredictable. I also have no debt and 6 figure savings although only just. But all the same it is a much better feeling no debt and I just live simple and below my means. Best thing I have ever done.
Hi, I am no big economic expert but I always think about Gold. At the end of the day, Gold is just a metal, it's value is dependent on it's demand. So ,how does it become an asset or has been an asset since the beginning of human civilization?
@@bhaweshthapa4672 better then that fake paper.
But if you had kids, how do you move kids to a lower educational environment? Do you think it’s ok for their competitiveness in their skills, if you moved your kids to some countryside? This is an honest question and I look forward to your thoughts.
@@joannabusinessaccount7293 I dont know which country you live in. Can you let go of the dreams you once had for yourself, that you think will apply to your kids for the next 50 years? Because its all changed in the 21st ctry. Their dreams and needs may be different to yours. Did yours include a top college, job in a great company, pension fund etc. All i see with that is a hamster in a wheel, as i was, going round and round, and never being able to get off. I would NOT put my kids through an expensive college today. I would not encourage a big city life unless they craved it. Because without a trust fund and property there, they wont make it. They need skills to set up their own business in a place with balance (a small city or large town). And you dont need a degree or blue chip experience to succeed at that. The business will challenge their minds, give them problems to solve, and they will LOVE the power and freedom it gives them. Keep things basic, simple, dilute your expectations, and they will be far happier. Who needs Harvard, i look at my degrees with fondness, but they led me down a stressful, tail chasing, lonely life. Happiness is a simple home with pets and loved ones, and an income you control.
Raoul, please make a post Covid version of this video.
Yes everything has accelerated now.
How can I vote this up
Please make one on the „ minorities „ we are Americans too…Yes they save their money or shoot it into space Amazon!!!!🙏🏾🙏🏾🙏🏾🙏🏾🙏🏾🙏🏾🙏🏾🙏🏾How much air pollution is that????🙏🏾🙏🏾🙏🏾🙏🏾🙏🏾🙏🏾🙏🏾🙏🏾🤬🤬
Yes!
He just did
Can you imagine tens of millions of old people not getting their promised pensions?
Neither can I, so I believe its obvious the government will step in and guarantee nearly all underfunded pensions by printing money. You think one trillion dollar deficits are bad? Wait til its 3, 4 or 5 trillion a year. The dollar will get destroyed. So yes you will get your $5,000 a month but in 10-20 years that probably won't have but 30-50% the purchasing power it does today.
Yes I can imagine that. In fact that is what is going to happen. Arnt pensions a state issue? Havent states gone broke already with bailouts including restructuring (cutting) of pensions? The feds might say to the states "Not our problem. Your promises. Your problem. Go restructure". Feds job is stability of the system not printing money to give to profligate ponzi state pensions that have known about their unsustainable trajectory for decades but have been unable to address it because of the main failing of democracy; that everyone votes for free stuff. Feds may help but the pensions wont be bailed out, they cant, it's too much. Its the difference between possible and impossible. Just going to have to face facts at some stage.
@@francisbrooks8533 I'm just saying when it effects ten of millions the Federal Govt. will be forced to step in. You can't have 20 million homeless 70-90 year olds. And yes inflation and rates will skyrocket
20 years? Not likely! Money will lose 33% of its value in 20 years at an inflation rate of merely 2%, and we probably have more than that already (realistically measured). At an inflation rate of "only" 10%, money will lose 52% of its value in only 7 years. Good luck affording that cat food, grandma! (Hint: the cat food is not for her cat.)
in 10 to 12 years we may be in an economic state where all financial transactions are moneyless, no fiat currencies, .
Just digital information. .May happen .After the next mega crash probably when all the boomers are retired after 2030.
A global reset of the economy some call it or correction , potentially saving trillions lost to criminal activities fraud tax evasion..etc. which cash enables. .Trade off is: lose of privacy , and potential power abuse. of power by governments.
@@josephhenry9924 I agree with you...that said trillions lost to criminal activities fraud and tax evasion is a very small piece of the pie....and can always be hidden. They will go to some digital credits as fiat money will be considered monopoly money and pointless. Additionally you don't just hand people $5,000 a month....it will be rent credits (which govt will own), utility credits (which govt will own), medical credits (which govt will own) bus passes (which govt will own), grocery credits (might still be private), etc...people will just receive the credits each month and either spend them or lose them...
Neither of my son's went to college. One went to tech school the 2nd went in the military. At 30 & 28 they both own their own homes & have been saving for retirement since 25.
Own their own homes or have a home?
I love listening to this man speak. He is very intelligent and doesn't seem to be in it just for himself. Real Vision is giving normal people a lot of great information.
It’s never been about money.
It’s about FREEDOM!
Easy Eagle very true my friend
Easy Eagle very true but money can enhance that .
Bitcoin is the answer.
My Dad intended to spend his last Dime when he died and succeeded. I intend to have a diversified portfolio with sustainable attributes and die leaving as much power and wealth to my family as possible.
Give a child a silver coin
Tell your kids you intend to give your money to charity. It will make them work hard, rather than rely on you. I told my child I am leaving half my money to charity. Suddenly they get very interested in your business and how to make money.
Let me guess....Your dad was a boomer ?
@@muddyriverdogz Let me guess you're a orphan ?
I agree, I spend the ROI, and hold the capital. Its great if you can afford it.
The best is to go into business for yourself. There is nothing worse than working for others and seeing them reap the fruits of YOUR labour
If THIS wasn't a powerful 42 and a half minutes, I have no idea what is!
This is general economics.
The charts don't even have units.
I am a tail end baby boomer, and all I can say is THANK YOU for elucidating the reality so clearly. About 18 months ago I made the decision to get out of all my retirement equities because even then nothing made rational sense to me, and instead I have invested in physical Gold and Silver and miners.... todate I am about on par with the performance of the S&P madness but when those indexes tank once the initial rush to liquidity passes from forced sales of anything I hope I will significantly outperform and perhaps close the gap to some degree of eventual retirement all be it a subsistance one most likely due to the broken promises you highlight. - Again thank you for your generosity in making this incredibly important video available to all.... I have already forwarded the link to all of my friends who of course face exactly the same issues as I do being of similar ages!
Nice Comment!
Same here! Good luck :)
From what I can tell from the GDX ETF price history, gold miners tumbled 50% same as other stocks in 2008. They bottomed a few months earlier than the S&P 500.
It made start buying coins 2 years ago .. I watched the coming retirement crises
Me too. Shiney metal and cash that's waiting for a correction in real estate.
This video should be required viewing. Im an old guy and went heavy in on metals and related stock almost exactly a year ago. Well, well, well. It seems to have been the right thing.
You can see around corners! The PI is on our early retirement list again, as VN is unfriendly and Thailand is getting expensive and the visas more difficult. What city in the PI do you like?
@@6789uiop Well, I cannot see Covid19 coming, but I keep my ear to the ground listening for tremors, and there were plenty. It really helps to be a student of history and economics.
I have long experience in the Philippines, and if you are a decent person, it is a very friendly place, and no, it is not just about money. Kind gestures for which no money trades hands is a daily experience. What city? Well, for me, NO city is my taste. We are near Anda, Bohol. Look it up, especially with a google image search. Small, peaceful, beautiful, white sand beaches, friendly people and all around, our little paradise. If you need city, I would go to Tagbilaran City, the main city on Bohol, It has most things, still not huge and the beaches of Panglao are at your doorstep. It's a fast ferry ride away from Cebu City, which of course is quite large. Some people call Anda the "Other Boracay" but without the crowds. Of course, all bets are off till the pandemic resolves itself...
Workers are the serfs of the modern days
I think Raoul is fantastic at explaining the complexity and making it palettable yet always forgets to mention that when people loose heavily in the markets someone or somebody gains massively at their expense. Money never vanishes. It merely gets transfered to somebody else.
👍👍👍
If I wasn't depressed before...
History going to repeat itself and then sum , the wealth will be fine.. the average person going to be fecked
Could you make a series/video about the actual generation, below 40ies not having kids because they just can't afford it? Housing over priced, job insecurity, child care cost, medical care cost, cost of education....what hope is left for the younger generation here?
The boomers are in control of finance/congress/corporations/media. They will never give up their money to Gen x or other generations.
I can not believe how much I learned in a short 42 minutes. My eyes have been opened. THank you Real VIsion!
This aged amazingly
I've watched this 3 times and I feel like I learn something new every time! WOW well-articulated and such vital information. I've been talking about this and writing about it on my blog and people call me a doomsdayer and videos like these just make me feel like I'm not crazy
Ché Köhler I pulled out of the market a year ago and the Trump delusional syndrome (not going into politics) crowd think/thought I m crazy. Until this week when the script changes. Propaganda works. Just ignore it. Be well!
Thank you Raoul, great analysis. I'm sorry you lost your father last year..
I broke my leg and couldnt walk for 10 weeks. Now I finally see why we cant all work til we're 90. When you're young you imagine your body will hold up forever.
I'm a Gen Xer, single with 13.5 years left before retirement. I have gold and silver holdings but I'm not going into the stock market at all (unless there's a massive crash and stocks fall 50%). I'm just living below my means and saving 65% of my income. I sold my car in 2014 and upgraded my job twice since, doubling my income and tripling my savings. I rarely eat out and only buy food and nothing else. I have enough clothes to last me the rest of my life (besides underwear & shoes). I'm planning to live in a developing warm winter climate country and come back to Canada in the summertime to work then go back to a developing country for winter. I can't afford to live any other way as the Canadian Pension Plan and Old Age Security won't even cover my rent in Canada. I can only imagine it's going to be worse in the next 13.5 years before I'm 65. Even then, I'd like to work part-time for the money and because I like to work, I just hope I'm healthy enough to do so. In many ways I find what we call "developing countries" better than so called developed countries. Sure, we make more money but the taxes, prices, stress isn't worth it for me. I can live a better life in Mexico, Colombia, Portugal, Spain, Montenegro, Georgia, Armenia etc. I just can't do it without the meager government pension.
You’re not really living though with that mindset. Enjoy your money while you can, there is no need to be saving 65% of your income. There’s nothing wrong with having a nice car, nice holidays and eating out etc. £500k is plenty to retire on, although £1m is ideal
There was a massive crash in March 2020: the market fell 33% or more.
How much did you buy into the market when it crashed in March 2020?
The expansion of the Fed Balance sheet tells you all you to need to know about the entire system. 5 fold increase in the balance sheet, you need to ask yourself is your net-worth increase 5 fold, is your income increase 5 fold, in the last 10-15 years. If it hasn't you are screwed.
surprise words RAOUL PAL.... having received no funding in bitcoin is a magical word that will still surprise so many people not only the pensioner..
i believe that knowing the great incentive in btc will make you not to think how unfunded pensions will destroy your retirement.bcos as the days goes everything abt it, is apperishing and well documentary and that is the reason why
The rich stay rich by spending like the poor and investing without stopping then the poor stay poor by spending like the rich yet not magical
Lady Susan has brought me out of the
wrenches and to a better living through trading options, I encourage the newbies to stick well with her at all cost, her accountability is assured and i also recommend Lisa Rawlngs for the wonderful smiles she put on my face after all hope are lost,that invested with $4,000 and gain $13,600 within 15days of trading
GODS BLESSINGS
Yeah sure Bitcoin yields more
profits with thefavorable marketrise I've been an investor and I can tell
it changed my life for better 😊😊 Investing in Bitcoin will be one of the widest thing to do when i investwith_sussykaren she assured of constant profits in my portfolio. but i wasn't that interested base on my looses so far.a big thanks to my uncle who introduce me to her
Great video, Mr Pal to be frank with you, bitcoin trading is easier
when you have the Strategies and knowledge.i totally agree with you for trade to be successful depending on the broker ability to trade,and Willingness to invest what will yeid you a better profits in future because am a salary earner . for the past four years now I am always afraid of investing in bitcoin trading since my mother was scammed before she retired. But every 14 to 15 days there's this my best friend who always surprised me with a lot of gifts and I always having in mind that the money she always spend is the Allowance her mom used to send to her for her up keep. It was on August that she gave me the greatest surprise of my life when she brought out a hug amount of money she withdraw from her wallet that she want to buy house, that after our retirement what next,thats when I got the greatest shock of my life. she told me that she has been investing since February then I gave it a try $6,000 from September believe me with the rate and the increase in bitcoin have nothing less than $35,000 in my account now.I don't like talking on this RUclips but I over head investwith_lisarawlings and it reminded me about her thanks
@ Patrick Donna how can you be vowing for Susan Karen and what makes u think she's that perfect as you're trying to praise her
This is why people want socialism. This flawed form of capitalism which the FED is responsible for creating has created a generation of poor young people who believe socialism is the answer.
The only thing socialism will do is make them poor and hungry.
Also it's funny you mentioned the living in your parents basement thing near the end of the video. Doing that seems like the only logical thing for me to do with my $$ because I know that if I move out on my own I'm just taking on a ton of debt in order to be responsible for an asset on the banks balance sheet, and a liability on mine. Living in the basement and paying my family rent helps them save $$ for retirement, and helps me save $$ to use when asset prices are less inflated.
You are not wrong, living at home is slowly becoming the new norm.
living in a basement is preferable than going out and buying these artificially juiced homes thanks to the Fed.
If you wanna buy a house right, best advice i can give you is DONT
Over 1/3 of adults in their 20s are living with their parents or grandparents in the US right now, the highest figure in over 75 years
@@SmashBrosBrawl my rent is now as much as a mortgage on a home....i have to stop renting...no choice
@@marsmotion
Varies where you live, but when houses are overpriced people tend to flee to rentals causing price hikes in rentals.
The Fed wasn't responsible for creating "The New Deal" ...that was Roosevelt and that is socialism/marxism. Gov't + politicians create all these unfunded promises and everyone is stuck with the bill.
Such a perfect articulated summary, possibly the best i have heard.
have to agree
@Cardinal Sin I agree gold is a superior store of value currently, but crypto is the future, i wouldn't ignore it.
Money does not matter, assets matter. We can print as much money as we want, but we cannot print houses, farmlands, railroads and gold.
that was straight from the heart, really impressed not just the passion but the integrity and honesty. hats off!
Raoul, this is one of the most succinct appraisals I have heard and ticks every box. Excellent. Thank you.
Sorry to hear about your dad. RIP. (Thank you, Raoul, for sharing these videos with us all for free. This was one of the best videos. Every minute was informative and insightful.)
I watched the retirement crises last year or maybe 2018 and it made me start buying silver gold and platinum US coins.. I have so much now and want to thank you
This video should come with a warning label: watch only while wearing an adult diaper, because this is trouser compromising information.
ANNNND 4 weeks later it's coming apart at the seems.
I am a Gen X’er in the USA and I deeply feel that my generation and the generations after me have very little if anything to look forward too at all.
You will eventually have affordable housing since there is no one to pay for the outrageously priced RE that Boomers are living in.
@@rokyericksonroks Perhaps. I’m renting now and I may never be a home owner.
Roky Erickson rocks So hedge funds will buy them to reduce supply, in a chase for returns. Reverse mortgage companies are already getting in on the action.
Thank you very much for the overview. It was well done. I appreciate the fact that you made it free. (I was surprised that you didn't suggest gold and silver for insurance.) This world is very frightening right now. Very. Thank you for caring about those of us who are not wealthy. I am a Boomer.
Just don't go to China right now! You'll be right.
It wasn’t free. It’s monetized, and there are plenty of commercials.
In order to get family and friends to watch this 1) You need to give a quick summary with solutions so they don't lose interest 2) Encourage them 3) Research any counterarguments and address any emotional concerns/objections people will have to this information.
37:00: Changing mindset is key... I accepted after the GFC that I would likely retire to a cheaper country. I was 32 years old when the last crash happened.
Change your mindset early and prepare accordingly.
I LOVE REAL VISION !!!! ONE OF THE FINEST MOST INTELLIGENT REPORT, INFORMATION I'VE EVER SEEN. YOUR GUEST ARE ABSOLUTLEY FASCINATING INTELLIGENT INDIVIDUALS THAT ARE OFTEN DROWNING IN EXPERIENCE AND A WEALTH OF KNOWLEDGE AND HISTORY IN THEIR FIELDS OF EXPERTISE THAT IS BEYOND IMPRESSIVE !! THANK YOU REAL VISION FOR ALL YOU DO !!👊👊👍👍
Thanks Raoul. For me now it's gold miners. As the dollar devalues and bond returns stay down gold should do ok.
whoops.... so far
Every aspiring retiree should listen to this twice at least!
XENNIAL HERE. MAYBE THE BEST VIDEO IVE EVER SEEN ON THE ECONOMY, YOU ROCK RAUL! Sharing this with my X-Gen brother and translating for my Boomer dad.
At 25:20 the reason credit card rates are still high (as LIBOR has fallen) is due to delinquency rates being stubbornly high.
I love how he shows a S&P chart for 2000 and calls it a bubble, but shows the same BTC chart and it's never a bubble.
Raoul has been pretty clear on his views here. Yes there are bubbles. But a unique characteristic to an asset like Bitcoin is that it has network effects. The implications of this are such that, while equities have to return to the mean, BTC returns to a mean that is increasing on scale similar to Metcalfe's law (exponential). Its a really fine point to think about.
Thank you Raoul Pal! I don't know you personally but I can tell you're a genuine person and you really care for each generation.
This is an amazing presentation of the mess we are in. Thank you for your honesty and you really nailed it.
I really did enjoy listening to this. Right on spot
26:20 It staggers me how many people buy new cars. People pay the equivalent of half a house deposit for a nice set of wheels when five grand can get you something pretty reasonable.
Exactly, poeple ask how i can afford multiple cars and motorcycles but when combined all those vehicles only cost a fraction of what they those same poeple payed for ONE car.
@@archygrey9093 Bingo. Buy in cash and insure for third party liability only. Will save you a fortune and you can go on enjoying the rest of your life.
I still drive my 1998 Honda Civic because its been paid for years ago, no problems and still gets me from point A to B cheaply.
I couldn’t agree more but history has taught me the current environment encourages and rewards gamblers.
thats cause its a write off for most cause they write off their cars from their business as an expence
its dec 17 2021 and I'm watching this. My response is solutions are what's needed. Real one
YOU ARE A CHAMPION FOR OUR TIME, THANK YOU RAOUL!!
Outstanding video. You've confirmed what I have been sorting out since 1999 when I was a mere 50 years old. Very little is what it appears to be/what we are constantly being pitched. I'm fine now, but have serious intentions to move out of harms way as soon as I am able. Thanks again/all the best.
A truly excellent, valuable video like your earlier one on the Baby Boomers. This should be broadcast on every major network and cable channel in this country. Brilliantly laid out. Will spread the word.
And still the people who this affects the most will still be trying to find which channel the Kardashians are on.
Thank you for this video Mr Pal. You have helped so many with your work. When this is over, we will have Real Vision and a handful of others to thank for our ability to survive it.
Thank you for giving this to me for free. As a millennial, and seen what has/is going on with baby boomer family friends, this really resonated with me.
You’re right about the large houses in new jersey and general housing in the rust belt. There’s no chance in hell anyone my age will move there in 10-20 years.
I’m going to protect and grow my assets. Hopefully not make too many financial mistakes. And I won’t be purchasing a home in the US as I expect to keep moving every few years as an opportunist.
Thank you for all the valuable information. While it doesn’t make sense to pay for any of your content this year or next, I’ll make sure to pay it forward in the future.
Decades ago, my wife and I starting saying, "Then what?", when discussing various purchases, and that activity kept us out of a lot of trouble.
Raoul, thank you for an excellent presentation.
I need to get my kids to watch this. Vision is something i find most people lack and while i don't agree with everything you said, it is always important to take all perspectives into account to make a fully informed decision about anything.
This was excellently presented, well done and informative.
THE MOST RELEVANT VIDEO I HAVE EVER WATCHED...............THANK YOU RAOUL
People just dont believe when they hear this. I know so many who are at retirement age and they still think it is all ok.
Some people are courageous enough to speak!
Im going to have to watch this twice
Me too 👍
I smile when the ludicrous adverts keep popping up for financial products during these videos. The RUclips advertising algorithms are clever, but NOT clever enough to understand irony (and how the just reinforce Raoul Pal's points.)
Thanks for your insights and knowledge. Finance and economy should be mandatory subjects in school.
I Grew Up Listening To ZEPPELIN!!! Love You Raoul.
Fantastic insights and advice. Thank you for posting.
It's all about pushing everyone into risk.
Agree with everything you say except bonds, why bonds? they are also in a huge bubble.
david stewart the actual bond price is overvalued. Just because they have almost no yield doesn’t mean the company will still pay the bond. Most companies are overrated so the risk still remains
My question: why would anyone accept third party risk for a negative yield?
Graham Hobbs excellent question. My only belief is that they believe rates will drop and the bond value will increase.
@@CosmicSeeker69 converting Equities to Bond , even negative yields.
is better than losing 30% in the CoVid downturn.
It's either lose little or lose big.
I agree with Elinor. This is a brilliant historical review of how the public has been lied to and screwed financially in so many ways.
It's all insane. There is no crimping expenditure by 60-70%. That would literally be equal to poor house level as a current middle-class person. I now have to get on the ball for real if I'm going to have any sort of retirement at all. Like having a job wasn't stressful enough, knowing you're not coming out ahead of anything in the end.
Point taken!
Retiring to the rust belt makes economic sense for myself born in 1965. $60k for 1,800 SQ ft brick gingerbread in nice area. This area is between the urban and suburban zone in St Louis. I have 4 car garage parking on 1 acre lot, and it's nice to live here. The coastal home markets are overpriced. Their are more options too moving into your parents basement.
It's going to be a rough 10 years.
El Jefecito
I'm afraid it;s going to go beyond that, El J.
Three for five decade my friend.
Thank you Raoul for explaining all of this nightmare.
Thank you for explaining the biggest bubbles at one time in a nutshell.
I have listened to this video so many times. And the understanding I get from it has changed my way ahead. I am looking at less or no pensions v cost of things worked 45 years house and flat which are liabilities . But the video has reaffirmed my belief for the last 20 years that it's going to be hard for fixed income people. So I have invested time and money into learning skills I can use in my elder years. No retirement just a easier life. Thanks .
Very well done Raou Pal and team! Great informative material they should all make kids watch in school! Take control of your financial future and don't count on someone doing it for you!
1000 Thumbs up on both videos Raoul!!!!! Thank you for the TRUTH that no one wants to hear or talk about.
I cant believe this wisdom was before covid
He has been through a lot.
This man deserves great credit . Thank you
My entire retirement is in precious metals currently because I just don’t trust anything at this point. But my parents are screwed currently in the California pension system and they can’t take their money out or move it. A screwed up game.
Raoul Pal is the only person concerned about the ordinary american or for that matter the wage earner across the world! And this is a brilliant video.
Love how wealthy people tell you how miserable your life is with no answers, why? because the wealth is in the hands of the few.
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Love the video love the information. Thank you. But if you look at what's happened to America since Dwight Eisenhower in JFK, we've had a matriarchal shift. Two presidents stood and did their job. And we imagined all the people peace and love. This should be brutal and will actually evolve and learn not to put emotion as the head.
Wages of stagnated since we been off the gold standard that generation didn't stand there watch.
A master's degree in finance in 45 minutes, invaluable!
Just needs the Epic Economist background music. Get ready for the collapse.
I shared this video with a co worker’s before I skipped to the end to make sure it wasn’t a promo for crypto (it wasn’t)...thank you and your welcome...I’ll finish the rest now
Cheers Raoul, your channel is legendary!
Raoul - Been watching you for over two years now and have learned a TON. I know this video has only been on RUclips for a day, but how does it have only 6,500 views? Astonishing. I hope to return to this in the summertime (as we head toward the US election) and see millions of views.
Sorry to hear about your dad, Raoul! Always love your content! 👍
I have tried to warn others of this for over two years. No one listened. I have sent this video to all of them. OUTSTANDING explanation and 100% accurate. I espec liked the "velocity of money' statement. Never more true. The banks got the money and they kept it. The corporations got the bailout money's and they kept it. The workers and the savers got the screws. thank you Raoul. Excellent advice and a great video.
Your right, no one is listening. That is why it will be very bad for the majority as it fall and declines over the next 20 years. I’m son has listened and my daughter is starting to come around. I will keep trying to share with people and I hope you will too.
THE FED IS THE MARKET!
Correct
The shadow banking system is propping up equities. The Fed has not factored into their models the role being played by shadow banking. That’s why the plunge will be so abrupt and sudden.
Raoul, thank you for the FREE video. I began watching Real Vision Fall 2019, but missed this video upon its release - it is truer in August than it was in February or all of 2019. You are the reason I began buying SLV bullion last year; I've only 250 oz, but it's better than what I had 11 months ago. Your words will save many people financially!
I can attest to those suburban/rural homes nobody can afford in New Jersey. About to turn 37, have been looking to move up from our 1/4 acre, 1,000 sq. ft. home on a busy street (purchased 8/2008) for over 2 years. We have yet to even put a single offer a home. I cannot in good conscience pay what these people are asking for these homes, especially when you see the condition they are in and the outrageous cost of the property taxes. Sorry, but $550k-$650k for 1/8 to 1 acre with a 2,000-3,000 sq. ft. house that hasn't had anything maintained, updated or replaced in the past 30 years coupled with at least $1,000/month+ in property taxes (which can't be deducted anymore) is absolutely absurd. We would be house poor with nothing left to make repairs & updates, most of which would be done with my own labor. God forbid anything went wrong. The thought of gutting another home and getting almost no return (other than pride) on my blood and sweat turns my stomach.
And, it's not like we're middle of the pack millenials (I prefer Xennials.) We have over $120k in cash savings, about $140k in home equity, $200k in retirement savings (riding that SPY & AMZN wave), a public pension w/ diamond encrusted platinum health benefits ($500 annual max out of pocket) and an annual income that varies from $150k-$250k annually. Student loans are paid off. Credit Card balance gets paid in full every month. Only consumer debt is about $25k on an auto loan at 0% interest. If we can't do it, WHO THE HELL CAN??
Defined benefit pension plans should be avoided like the plague.
Not if the government buys you out as Raoul stated. It's better than zero or a 401K that will be be dead money for decades.
Gotta watch that one a FEW time! Brilliant work! That should be mandatory watching in a college course
And "C", New Jersey has almost the highest property Tax in America.
I dont understand why people prefer sunshine places like Miami, I live in the tropical and I hate the heat, like 31c day long and even in the night so hot. I lived in Germany for 2 years and loved every moment, 6 months winter, less than a month summer, the dream!
31c? What's that in American? I made a sacred vow when I was on guard duty at -13F, to never be cold again.
This is kind of information that should be taught in all USA high schools...
Gen X have it the worst, they have to put up with the boomers and the millenials.
You nailed it, we have to find a way to take advantage of situation, invest in pictures of Mount Everest and put the in every retirement village, with caption NEVER GIVE UP, REACH FOR THE TOP, AT ANY COST, 🤣🤣🤣🤣🤣🤣 bye bye boomer.
So true. The boomer hippies only had to put up with legacy of the World War 2 generation and the Punk generation. GenX got it sooooo tough!
O.K. X-er.
lol, hit a nerve there i think.
Shut up and endure. :)