Stanley Druckenmiller: The government needs to stop spending like ‘drunken sailors'
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- Опубликовано: 31 окт 2023
- Stanley Druckenmiller, Duquesne Family Office chairman and CEO, joins 'Squawk Box' to discuss the state of the U.S. economy, Treasury Secretary Janet Yellen's 'big blunder' of not issuing more long-dated Treasurys when interest rates were low, government spending and the impact on the national debt, market outlook, the Fed's inflation fight, and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO: cnb.cx/2NGeIvi
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Comparing Congress' spending practices to Drunken Sailors is an insult to said Sailors.
I was a sailor and I concur 👍
😂😂😂
Atleast the sailors spend their own money, not someone else's.
As a former member of the SIU I agree
Sheeesh 😂
The entire staff of CNBC could combine their 'knowledge' and trade against him and still lose yet they can't be quiet and listen. If you don't want to hear what he has to say, don't bring him on. Close your mouths and learn.
Stanley is wrong. All the institutions that brought the thirty year mortgages, is suffering a loss every year because of the interest rate is below market value. This is the reason that Savings and Loans all collapsed back in the 1970’s and 1980’s.
@@bluestarcesiumooh! Do tell more!
For real. Why do they keep interrupting the guy?
This is what happens when Republicans cut taxes 😢
@@ivantsanov3650the tax cut on corporations has been beneficial for the economy. Investment by corporations is up twenty percent and tax revenue has increased at the same time. The problem is Congress is spending more. On 3/16/2017 OMB estimates for 2018 were outlays of 4.094 trillion revenue 3.654 trillion with a 440 billion dollar deficit. OMB’s 2018 to 2027 period plan was outlays of 48.901 trillion revenues of 45.735 trillion and a deficit of 3.16 trillion. For 2024 fiscal year outlays of 6.135 trillion dollars and revenues of 4.418 trillion with a budget deficit of 1.700 trillion. There has been over trillion dollars increase in revenue(taxes) since 2017, and the spending has increased 2.041 trillion. The Federal government has to reduce spending by 1.717 trillion to bring inflation and spending under control. 1.717 is a huge reduction in spending, especially with elections in 2024. The Biden Administration is talking about raising taxes to cover the deficit and Bideneconomics calls for more spending. If it looks like taxes are going to be raised, then, corporations will reduce spending and investment and the economy will go into a recession. This is why interest rates are rising because risks are rising and corporations are borrowing more money to refinance before the recession. Every thing is uncertain about inflation, taxes, interest rates, deficit spending or reduction of spending. Is the government going to shut down on 11/17/2023?
Stanley Druckenmiller IS LIKE THE MAN IN CHARGE IN THIS CONVERSATION.
This is what happens when Republicans cut taxes 😢
Why does everyone keep lumping social security into an entitlement? It has a dedicated tax in the form of a payroll tax. Your salary that is subject to the payroll tax is indexed to inflation, which means that you experience on-going tax increases to fund SS. While you can debate the overall program and the need to increase the full retirement age and how SS revenue is invested or not invested, SS has had almost no impact on the accumulated public debt to date. One can also make the argument that the accumulated public debt to date would be greater without SS. The reason is that for 30 years or so, SS ran structural surpluses and those surpluses flowed to treasury off setting by an equal amount the need to issue public debt. So when Drunkenmiller snd others talk about curtailing SS are they saying that the dedicated payroll tax should be redirected, in part, to other non social security budget items? Are they saying that payroll taxes should be increased so that SS once again has an annual structural surplus such that the excess can flow into the treasury? What the hell are they saying? I would argue that SS is actually an example of taxation that mostly works: there is a dedicated tax and your salary subject to that tax is indexed to inflation (a tax increase). The problem is not SS with respect to our 33 trillion dollar accumulated deficit. SS has until recently, been in surplus. No, the problems are a convoluted tax system, massive loop holes, and massive under collection: some legal, some grey, and some fraudulent!
SS only has dimes saved compared to the dollars owed to recipients. SS had an annual surplus when all the babyboomers were working. Now it is using that surplus to pay the boomers. If everyone were unemployed tomorrow SS would last about 5 years. SS is dependent on current worker's taxes to pay out monthly checks. The worst problem is Medicare.
The cap on SS earnings is criminal.
I would not say the cap is "criminal" but more a feature of the program. That said, the cap is indexed to inflation and this has been increasing. Now those who earn in excess of the cap do not pay any payroll tax in that excess. At the same time, their future SS benefit is also capped. I am not suggesting that there can't be changes to the system. But you can't say the current cap is criminal because those not paying a payroll tax in excess of the cap are also not receiving any incremental future SS benefit!
Not exactly. The 30 years or so that SS had annual surpluses, the surplus revenue simply flowed to the general fund and was spent. The so called SS Trust Fund is a federal accounting construct called intra government debt that says the Treasury owes the SS Administration the surplus dollars plus interest. You often hear that the Trust Fund is backed by bonds. But this is actually a bit of a gimmick in that these are just "special purpose bonds" that are neither marketable or tradable. It's just an accounting construct. For Treasury to pay back the SS administration for the borrowed accumulated SS surpluses, the Treasury has to borrow: actually issue public debt. And herein lies one of the contributors to the deficit but by no means the only contributor. If SS has no annual surplus, then the Treasury receives no additional "free" tax revenue. It also has to issue public debt to reimburse the SS Administration for the past borrowed dollars. SS is structures as a pay-go system. Our Canadian neighbors to the north have a different approach. Their SS system, while not as rich in terms of benefits, is invested by the Canadian Pension Plan Investment Board. They invest globally including American assets.
@@mrrogers4591 A worse problem is millions more Americans living in complete poverty and with no healthcare. That is a ticking time bomb waiting to financially destroy a country that everyone knows will blow up. Keeping citizens clothed, housed and fed is a matter of national security on a scale far above the cost.
Hearing the great Mr. Druckenmiller I want to fasten my seatbelt and hold onto the grab handle at the same time!
This is what happens when Republicans cut taxes 😢
LOL every time the anchors say something, he goes "No, [proceeds to explain why they're dead wrong]"
anchors are old people that work there forever
When a 30 year bond is :too short", you need to revisit your spending/borrowing plan.
This is what happens when Republicans cut taxes 😢
The makeup artist for the cast deserves an Emmy.
Love Stan, hate CNBC. The whole time he is speaking truths, he gets talked over, repeatedly! Glad common folks get to hear him, but wish he was shown the respect he deserves by the hosts
this is the guy who says seniors should take a cut in Social Security. Well, he's done his part by accepting a cut in his taxes. But of course, tax cuts adding massively to the deficit is not the problem in his view.
Crazy that average people can figure this out to save themselves money but our damn treasury department missed the boat. We are being led by absolute fools
66 percent of Americans are living paycheck to paycheck. Stop talking out of your ass
Stock market has ZERO issue with it so they will never stop.
The stock market is like 100X smaller than the bond market. It's a fly in the ointment and gets squashed by the elephant. When the real crash eventually hits people will lose 80-90% because there won't be anyone on the other side of the trade. It's a foreign concept to most.
I love this guy!!!!!!!!!!!!!!
I'd like to hear Joe Rogan interview Druckenmiller so he can talk without being interrupted every second.
Andrew interrupting Stan is one of the more painful feelings to the ears
Andrew is terrible interviewer constantly interrupting
Susan Collins, president of the Boston Fed, stated that the central bank may raise interest rates even more and will probably need to do so for a "substantial" amount of time. My almost $600,000 stock portfolio continues to lose value, and I have no idea how to protect it from the market's volatility.
The question is whether inflation's downward trajectory is convincing enough to take a more measured pace with interest rate hikes, or whether a more aggressive approach is warranted to get inflation close to the Fed's target of 2%.
Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, , and in just a few months, I was able to earn over $950K in net profit from high dividend yielding stocks. you should try it if your portfolio keeps declining
Pls who is this coach that guides you? I’m in dire need of one
*Sharon Louise Count* is my advisor; she is regarded as an expert in the field and has a wealth of information regarding portfolio diversification. You ought to look her up.
I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.
I love this guy!
You get one of the best and most intelligent investors of all time on... You ask him questions. And then you interrupt him and speak over him.
Why?
As the nephew of a sailor I must say I find this offensive, my uncle at least stopped spending when he ran out of money.
Unforgivable mistakes under this administration. Chips act & Inflation Creation Bill giving $2T to big business, zero to small business and households. 2. 1 year late to raise inerest rates calling it 'transitory'. Two months failure to act would have been huge. 3. Failure to finance government debt when interest rates were low. Now tax revenue is down, we're headed into recession... everwhere I look ppl are living in vehicles. I never Never used to see that. Now it is everywhere I turn. We need to cut the government, force them to spend according to what comes in, force them to balance and save. Remove the political and narrative managmenet. Folks right now big busienss is the only game in town. They are acting like componenent units of government. They are acting like spokespersons of government.
I'm no Biden fan, but Trump added $7.8 trillion to our $34 trillion debt, that's 23% in four years. And don't get me started on the stupid pandemic checks sent over and over to people who never lost income during the pandemic, such as me. And PPP money was ripe for fraud. No it's every administration and every Congress of both parties. Hell, Congress makes the military buy weapons they don't even want in the hundreds of billions of dollars. See the full picture, not just one side, because that's part of the problem too: we're so divided.
Another rich guy who has all the answers.😕
"We missed a once in a century opportunity" perfect
Yellen also said things were good right before 08 crash and called inflation "transitory". She has no vision.
I did not understand that one.
@@brandons2842 US should have issued as much long bonds as it could, but now it has to pay for more.
@@lominiski What is his overal point btw? Only that the US should have issued way more long bonds in 2021?
Would have saved hundreds of billions if not trillions
There's federal spending as a share of gdp and there's federal revenue as a share of gdp. If the federal debt is so very concerning why isn't the historical decline in revenue as a share of gdp ever mentioned in these discussions?
Increase taxes for the rich, cut entitlements and limit government spending to a ceiling. Unpopular for both sides. They'll never do it.
weird, the taxpayer usually spends most of the tax dollars on subsidizing corporations and rich people
Paying less in taxes is not a subsidy. That's like saying because you paid less in taxes last year because of lower taxes, the government gave you a handout.
What do you call bailing out corporations? Buying failing companies stock, Direct injection of cash to the nation's largest banks? Those my friend are HANDOUTS by Taxpayers to Corporations (Most of which pay little to NO taxes). Corporate WELFARE plain and simple.@@ppumpkin3282
Add to that Farm Subsidies to mostly Red States and agricultural firms who love, love, love the cheap labor 'illegal' immigrants provide.
Probably referring to the corn industry, or oil industry. Both receive money from the governments like they are a struggling industry trying to a get a foot in the market. @@ppumpkin3282
@@ppumpkin3282Socialist logic.
This was not the complete interview unfortunately. Druck was brilliant.
do you know where i can watch full interview?
If all the banks had thirty year Treasury bonds at one percent, the banks would have had to be refinanced or taken over last spring. Every banker knows that Treasury bonds were overvalued, and they did not want to buy them, yet they are forced by the Federal government to hold Treasuries. Treasury bonds were one to two basis points below real interest rates. Look back at what bankers were saying about Treasuries.
right, we missed the opportunity, but very key after 2021 government is not reporting spending as they used to. That is the reason is spending is out of control, We still have wait another five years until those mortgage bonds will reset.
Let the guy talk. Jesus Christ.
Spot on! You invite Stanley "Freaking" Druckenmiller on, and you have the three village idiots interrupt him every second of the way... Crazy!
Couldn’t agree more , Joe is the worst Andrew a second
i like becky the best. she says nothing and does her grocery list during the show
Freedom plebs..what would you expect. Overnight tongue holders?
Who's authorizing the money for the government to spend?
We can do both, go after the super rich because we know they try to dodge paying, we trim entitlement’s gradually, we keep the IRS, we can stop subsidies to failing businesses unless they provide a net positive that can be proven now, no more subsidies to sports teams, we cut military spending gradually.
This is what happens when Republicans cut taxes 😢
Cut spending, especially defense,, and freeze entitlements for five years. No cuts required to ss and Medicare but locking them would work. And close the border along with shipping some folks home.
Why doesn’t he volunteer to pay more in taxes?
Why don't you? He pays 1,000,000 times more taxes than your lazy
Dident he make it clear? Because it's spent like druken sailors. You wont fix a drug addicts problem by giving them more money.
@@Cr3at1vem1nd I agree that’s half the problem. Boomers like him are the other half. They need to fail pain but passed it onto the next generations while sitting on trillions
I think the govt should continue to raise mortgage rates because punishing financially responsible citizens (most home buyers) is the smart way to curb inflation 😒
It would be an impossibility for the fed to have bought long term treasuries because the market would immediately demand much higher risk premium. Stanley is very good but this argument is false. But he's correct the federal reserve is stuck and the dollar is headed down down down.
Dave Ramsey needs to run the books
Under current Monetary Policy, the US Treasury cannot issue this amount of new debt instruments. We cannot afford to fund Ukraine or Israel's wars to the tune of 100s of billions of dollars. This is what the highly unstable bond yields are telling us.
The US Treasury must reduce the amount of debt instruments it is issuing or the monetary policy must shift immediately. $770 billion in new bonds flooding the market in the next two months is ridiculous.
But do you like Tesla at these prices? LOL, don't answer that. 😂😂😂
The economy was booming when the US invaded Iraq, both times. And those were pointless wars. Now, when they got the opportunity to decimate a real threat using a fraction of resource, you call that too much?
@@zannierzan9634 In 2001, the US Debt was $6 trillion, today it is 34 trillion. Tax receipt are approximately $3 to $4 billion per year. China, who was one of the biggest buyers of US Debt is now a net seller due entirely on this Administration's foreign policy. And the fact that you think the economy was booming in and around 2001 tells me you weren't in the economy during that period.
This should answer your question.
@@harrychu650 The fact that you think Iraq war is around 2001 proves that your brain malfunctions
Are they telling you to provide the IRS with more funding for updated computers and servers? If the IRS had more $$, they'd be better at getting the BILLIONS of taxes wealthy tax cheats cost us, and this wouldn't even be an issue.
I love how these people come on these networks and give their explanation of what should have been done to fix the deficit. Yet no one, nada has the correct answer. Furthermore, the deficit always gets discussed but no action is ever taken to address it. These people are in high profile positions or involved in the overall process of running our country. I have come to the conclusion that they have no intention of fixing the deficit because they are to GREEDY. This is why when people ask me about this subject I just say this "we live in a consumption economy that is controlled by corporate America and they have no desire to fix the deficit." Can we please stop talking about this unless we actually intend to do something. I am sick and tired of being sick and tired of hearing all the jibberish about the deficit.
Israel is a developed country, we shouldn't give them a dime.
Its the top global grifters!
Why cut that off? We need to see the entire thing!
We could stop spending on salaries for our ineffectual lawmakers who are in effect, obstructionists. Just stop paying for nothing? Sounds like fiduciary responsibility to me.
CNBC personnel will, no doubt, show video of Stan saying the same thing during the Repube Flump administration. I will hold my breath.
The only way mortgages were at two to three percent is because the Federal Reserve was buying mortgages. If the Federal Reserve has to sell all those mortgages, it would take a loss on them. The Federal Reserve has tried to manage the economy, and if housing prices fall because of a depression, the Federal Reserve will be forced to hold the mortgages until maturity. The Fed needs two percent inflation at least to keep the economy going.
I’m shocked MSM allowed Drunkenmiller on air.
Guy wants to stop cola for ss recipients
That’s great advice from a billionaire
Stop interrupting him…. He is trying to communicate the most important things and all you need to do is be quiet.
Even drunken sailors live within their means!
Poor Becky, she almost got out a complete sentence!
On behalf of the drunken sailors association I officially state that I am deeply offended by this video
What’s he calling “entitlements?” Social Security is an entitlement … we paid in, we’re entitled to returns. Many people call social programs, welfare, entitlements which is not accurate. That said, as much as we may want to see less spending on such “handouts” is it realistic to say, “let’s reduce social spending by $50B and give it to another country?” The reduction on social spending only works if it offsets the deficit, not if it’s spent propping up the rest of the world. It’ll be a really cold day in hell when Social Security is cut so we can pay Ukrainian pensions.
They should be spending like 'drunken millers' :)
Of course the billionaire wants to go after entitlements, it's the one part of government spending he and his entire family will never need.
Having recently passed 'Fiscal Responsibility Act', we can have faith in Congress.
😅
Haha good one 😂
Wow, 25% of our GDP now consists of government spending, yet I can't ever see where my tax dollars actually go....
I was wondering how long the MIC could stay on a strict diet.
GDP IS UP BECAUSE OF GOVERNMENT SPENDING!
This guy is bad news. Cut Social Security? I don't think so! Maybe rich people like him don't need it but most do!
But but you're fierce at badmouthing China, the largest creditor that has changed the mind.. Funny ehh who knew bond buyers would help to stabilize a lower mortgage.. you just parroted without second thought or understood the macro landscape
muito bom
that ship has sailed long ago
Would have been nice to see the entire video.
Can someone explain this? My eyes sort of glaze over when Druck starts talking about bonds and I don't think I am the only one 😅
Yellen could have refinanced the gov debt (same as everyone else with a house in America did) by selling lots of long term bonds, even 50-100 year because people were starving for yield. She didn’t and issued bills instead which are short term. Now we are screwed, its one of the worst epic blunders in the history of the treasury of this country.
That's right. While our so called DEI candidate Janet Yellen expert failed to refinance the debt - he said 80% of the homeowners had the brains to figure this out. Soon a lot of the debt that we had will have to be rolled over and financed at a higher rate. So the cliff is coming. Pretty soon the amount of the federal budget we need to pay for our debt interest will be a substanital part of our federal budget and will cloud out money for other government programs. @@mark33545
The government issues debt by selling Treasury bonds. The market gives the government cash (as a loan) to use now and the government gives the lender an IOU (aka a treasury bond) with the promise to pay it back in the future plus some interest.
These bonds have different lengths of time until they mature. The shortest length is 1 day (overnight) and the longest length is 30 years. (I’m overly simplifying for understanding.)
Historically, the interest rates on government borrowing (treasury bonds) would be low when the market has faith in the government’s ability to repay their loans. Interest rates would be high when the market is losing faith in the government’s ability to repay their loans. In this way, the market is assigning a sort of “credit score” to your government. When the “credit score” of your government goes down and their interest rates rise, it forces the government to do one of two things: 1) stop borrowing and fix their “credit score,” metaphorically speaking or 2) borrow more and more to pay off previous lenders (think of it as using paycheck advances to pay the mortgage) until they eventually “declare bankruptcy” (again, metaphorically speaking).
A few short years ago, the longer term bonds (10-30 years) had very low interest rates. Technically speaking, they shouldn’t have been as low as they were because the government’s “credit score” was poor (due to excessive borrowing with no concrete plan as to how they’d pay it back.) But, the central bank (aka the Federal Reserve) implemented a trick (called quantitative easing) that artificially held the interest rates on those bonds at extremely low levels. It effectively masked the U.S. governments (in fact, most developed nations) poor credit scores.
Those (artificially) low interest rates encouraged borrowers, homeowners for example, to refinance their long term debt (aka 15 to 30 year mortgages). “Refinancing” is when you extend the length (duration) of the debt but lock-in a lower interest rate. Most corporations refinanced their debt as well.
His point is that the U.S. government (the most indebted borrower in the world) could and probably *should* have refinanced our huge debt level when rates were low (and especially because they were artificially low.) They would have done this, in part, by issuing 50 or 100 year bonds. This would have extended the length (maturity) of the debt which is currently~$33.5 trillion and climbing. For context, in 2008 the total cumulative sum of our debt since the nation’s inception was $8.5T. We’ve had a 4x increase in 15 years. (Yes, you read that right.)
(Insert: there is some debate over whether the market would have bought 50 and 100 year bonds if they had been issued. Smart money would have known *why* it was being issued and perhaps not have been willing buyers. Andrew makes this point in the video.)
The government did not refinance and now interest rates are screaming higher as the market starts pricing the government’s actual “credit score” into the long term interest rates. In other words, central bank tricks are being removed.
So, unless you think we are going to pay off our debt anytime soon, then the government is going to have to refinance it at much higher interest rates.
And when that happens, less and less of your tax dollars are going to be used for productive purposes because they are going to go towards paying the interest on our nation’s debt.
Here’s the point. Our government, regardless of motive, has been spending money we don’t have. They’ve spent your kids, grandkids, great grandkids, great great grandkids, etc. expected tax revenues with only a handful of pen strokes (and in only a few short years). They were allowed to do this because of two reasons 1) the voting public doesn’t understand how money works 2) the central bank tricks (quantitative easing) that were implemented after the Great Financial Crisis had negative unintended consequences. (Go figure.)
He's saying Yellen is an idiot
Yes , the short version is ‘we spending like drunken sailors’
Perhaps they didn't refinance then because they didn't actually know what the hell they were going to settle upon doing next. Hindsight, etc... When you determine the trajectory and then participate in it as a user you're so pompous you kind of make up the plan as you go imagining you have the tools to adjust your situation later.
The last 15 seconds of this clip is the most telling .
The super rich really don't like these interest rates
Quite contradictory statement given his bets on treasuries that point to total hypocrisy in his argument. It's like saying a house is burning but I'm going to buy gasoline to fix it.
This guy is in favor of supporting wars by cutting Social Security and Medicare? What a bad person.
1:00 BECKY BZ TAKING NOTES
Stanley darling, as a drunken sailor I just ask you keep me out of this!
6:35 mortgage? Debt free as a school teacher, 2004! In home 23 years. No mortgage. Pay it off FAST!
Druckenmiller does not like to be interrupted
I don’t blame, especially when the interruptors aren’t very bright.
So what’s the solution? I think we have an impossible dilemma that cannot be solved due to financially engineering our way into a black hole. The event horizon of financial mathematics is approaching.
So, how much did Stan get from the $2T Trump tax cut for the wealthy and corporations ? Funny, huh?
Entitlements are always the problem with these folks , never the tax cuts. Just give your chunk back to the Treasury, Stan. It'll help balance the books.
Prob nothing since he's still alive and hasn't fully exercised the inheritance taxes compared to $3trillion under Biden spending.. including cronies Ukrainians and traffickers
Can't increase taxes enough to cover the deficit without pushing the economy into a depression. With a projected 2 trillion dollar deficit for the next year (which is due to social security, Medicare spending, and interest) even if all US billionaires were taxed at 100% of their wealth (making them homeless), that is not enough to make the deficit 0 and it would crash the stock market and the middle class.
You work for 40yrs to have $1m in your retirement, meanwhile some people are putting just $10k in a crypto market for just few months and now they are millionaires , all thanks to Mrs Jane, God bless you madam 😇
She's really amazing with her skills..she changed my 0.5btc to 2.1btc
She helped me recover what I lost trying to trade my self.
I think I'm blessed because if not I wouldn't have met someone who is as spectacular as expert Mrs Jane,
I think she is the best broker I ever seen.
I still wonder how she gets her analysis, I got profit of $28, 609 with a capital of $4000 in 16 days of trading with her
I'm from Canada 🇨🇦 I and two other of my friends tried her immediately we testified, her performing wonders
The GoP need to agree to cut our military spending and raise taxes on the riches 1% of our society.
Ps
This means increasing capital gains and taxes on financial transactions.
Yes some public spending needs to be cut in real terms but our country is growing, we are not in recession.
There is spending and their is spending.
If we're getting as tax payers a good return on the investment then great. If the public services our state and federal agencies provid is cost effective also great, so this clearly needs much work on.
For example NASA spent almost @$11bln on a jobs for Congress programme called SLS - which started in 2011 I think, which was supposed to get us to the moon in @2025. It is @10yrs behind and billions over budget. Guess who the contract was awarded to..... yeah, Beoing.
WTF 🤔🙄😒😕
Vote these people out in government that are not actually fiscally conservative. Republican or democrat!
He is not wrong, but if we become a larger oil and gas exporter in the world and push SMRs to lower energy prices we will be fine
Nah tax the rich.
Its an income problem. Going after entitlements is just never going to happen
Selling two years is a stock hedge
Is he saying “a trillion” or “8 trillion”?
Those drunken sailors need to stop stealing our social security - That money IS SENIOR CITIZEN'S MONEY, IT IS NOT AN "ENTITLEMENT". We, the workers of this country, put that money into that Social Security fund -. KEEP YOUR HANDS OFF OUR MONEY!!!
Can we retire the phrase spending like drunken sailors, please? Spent six years in the Navy as a Cryptologist and we didn't drink any more, and probably less, than frat boys and girls spent of their parents' money on booze. Guys like Mr. Drunkenmiller when he was a young college frat boy, for example. Can only imagine what else he spent his parents' money on. At least sailors earned the money they spent. Never understood the hatred college educated people have for those who served. Jealousy perhaps, because they didn't have the stones to serve.
So much pain on the horizon
Here's an idea: rather than focusing on only spending as a way to manage budgets, we could do that thing were we tax rich people to be able to pay for things.
Stan the man hes gotta plan, drunken all day and milling all night
Funny we worry about spending when it’s for poor people, but nobody mentions the trillions borrowed to build a ridiculous military industrial complex.
He only he cares about the wealthy 1%. Many Treasury Bills, Notes and BONDS are deposited into the Social Security Trust Fund. Plus, they provide income for savers, higher yields more income. And, help fund other pensions, public and private.
Ever wonder why Japan has the third largest economy, leading in many areas like cars, robotics, etc and has over 2x GDP in sovereign debt? Their people buy most of the debt, so, not owed elsewhere. Since the US is such a consumer/materialistic oriented society, people do less saving and more spending, though that’s OK since company profits provide tax revenues.
Bottom line, higher Treasury bond yields are fine, just need tinkering with SS, Medicare, etc and our tax system, mostly to the detriment of the wealthy.
Notwithstanding the merit of his point I think he came slightly drunk on the show... The voice is breezy and faltering.😅😅
Like asking a addict to stop. Won’t happen. Why? Because they are spending money that the public will pay for NOT THEM.
Wow so many thoughts came to me from listening to this cNBC production! I would love to virtually meet Stan the Man. I grew up poor from broken family. I played by the rules and I saved my earnings and invested, and long story short I generated a one hundred fifty times return on my first investment over forty years, so I know how to sniff out a good investment. I still own it and it is on its way to one hundred fifty times the original fifteen grand invested. Did u notice that Stan mentioned Alexander Hamilton, a British banker who wanted to allow the first central bank to enter virgin soil! Perhaps that explains why he was shot in a gun fight! The government is a magnet for grifters and for no good communist and they don't care if you disagree.
I bet if Stan would have to rely on entitlements to survive and pay his bills after he retires, he wouldn't be advocating to cut them.
The Fed claims they're fighting inflation, yet they can't stop spending. Ridiculous. Now the market is up for no good reason. I'd say given this high volatility, wouldn't it be prudent to create a portfolio based on someone else's successful model? I've achieved a remarkable 21% ($130k) return in just four months via the model portfolio approach without entrusting my funds to anyone for management.
My portfolio is not looking so good, and I believe it could perform better. Whose portfolio do you copy?
Right now, I work with Lauren Marie Dale. She has shown expertise at its best. Some really amazing stuff. Smart diversification, risk management, with substantial earnings. Yet I only have to copy this automatically in real time using algorithmic trading system. I don't hand funds over.
Well, despite the wild market since 2022, I'm content with the reassuring results. She charges 10% of only profit as performance fee. Don't get burned, mate. Get a help if you have to. Schedule a phone call.
I achieved a return of 50 percent being a dumb ass because the market went up?!
Good ole becky disregarding what stan is saying and blaming republicans… missed opportunity is the answer here becky!
These past months has been tough globally, A flailing U.S. economy, elevated global tensions, prolonged inflation and recession , massive layoffs, it’s been a difficult financial year for a lot of people. The only way to really beat this declining system is to invest, any money saved or kept in a low interest account losses it’s value each year. Investing is the only way to ever attain financial security and get out of the rat race. I started investing in stocks and Defi April this Year. With a start of $45k, my portfolio currently sits at a comfortable $380k. There are are lots of opportunities in the market to make really good investments and it’s a surprise many are not utilizing it.
The importance of investing cannot be overemphasized
I will really like to know how this things actually work and build my finance.
@@MariannThygesen There are quite a number of undervalued stocks and Defi assets available in the market, get in on them.
I'm very interested in investing and I have good sum of which I'm willing to put in with the right information. Tried investing in stocks myself a few times but I’ve never been in luck picking stocks.
@@ShawnArmstrong273 Aside from a good capital, it is very important to use the service of a CFP or broker who understands the market,that way you’ll be able to preserve your capital and make high yields investment
Let's get in straight. Giving it away. (Foreign Aid, Migrant Support, Military Equipment, and fighting for someone else, the funding rebuilding) CHARITY.
The foolish spending, bureaucracy, poor management of tax policies all contribute to spending to much.
You need to make a video on how to make 6 figures monthly because I have read about investors making up to $650,000 within 5 months and I really want to know how to outperform the market and make a significant profit
This requires adequate research and good marketing deadlines.
Even with the right technique and assets some investors would still make more than others, as an investor, you should’ve known that by now, nothing beats experience and that’s final, personally I had to reach out to a market analyst for guidance which is how I was able to grow my account close to a million, withdraw my profit right before the correction and now I’m buying again.
If you're in it for the Long haul, treat investing like buying Gas. Buy only the good stuff. Buy regularly despite the price. And know over time it's sure to go up. Lol
@@MaxwellPrince509 If you don’t mind, how exactly does this work ? and how profitable have you been ? I would love more info about her services.
@@RossSpencer176 Landra Lilly Macy is quite social platfrom i doubt if there is anyone who is serious on trading market that doesn't know her. She has helped me quite a few times in growing my portfolio and it was blissful without any setbacks. she is a tough person in an industry that demands clairvoyance.
Smart guest vs dump host (Joe)
QQQ to break new high by Q2 2024
The Druckenmiller " drunken sailors ". He's bound to get the irony of that tongue twister. Agree with Stan's dad, stop digging. Ha ha.
Why can't Capitalist Profits pay for its Military Protection directly, by Buying however much Weaponry Contracts they want?
Why do we Pretend it's a Public Good to buy a Trillion Dollars a year in Corporate Weapons Contracts? (So I can buy stocks in these Tax Subsidized Companies?)
If the woodpeckers in the swalkbox would stop chirping while the guest answeres there questions it would be nice.. get Stan on with Joe Rogan!!
I love when he tells that joop biden mouthpiece to SFTU.