Veteran Federal Reserve Exec Thomas Hoenig Warns We're On A Trajectory For Crisis
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- čas přidán 19. 06. 2024
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The Federal Reserve is one of, if not the most, significant institutions in the world given the global impact of its policy decisions.
It influences the price of nearly everything, as well as the availability of jobs, the stability of our banking system, and the purchasing power of our money.
When the Fed Chair speaks, the entire world stops to listen.
But the average person has a poor understanding of how this colossally important entity operates or even why it exists. And after a series of asset price bubbles -- which some argue we're in another one now -- a chorus skeptical of the Fed's actions has emerged.
So today we're doing our best to shine as bright a light as possible on the Fed: how & why it operates, the good & as well as the shortcomings of its actions to date, what direction its policies are likely to take from here, and how all of this impacts the households of regular people like you and me
We have the great privilege of speaking today with Thomas Hoenig, former CEO of the Kansas City Fed, former voting member of the Federal Open Market Committee, a former director of the FDIC, and now a Distinguished Senior Fellow at the Mercatus Center.
Follow Dr. Hoenig at substack.com/profile/13192699...
0:00 - Dr. Hoenig's Backstory
5:26 - Why Does The Federal Reserve Exist?
11:16 - The Fed's Track Record
14:53 - Is Current Fed Policy Appropriate?
18:37 - Is Powell Confident Or Fearful?
22:45 - The Fed's Short-Term Focus
28:14 - Our Disastrous Fiscal Policy
42:24 - Reforms Hoenig Would Prioritize
50:29 - How Fed Policy Affects Home Prices
53:12 - Why The Fed's Decisionmaking Is Broken
57:58 - Outlook For The Dollar's Purchasing Power
1:01:08 - Fed Policy & The Wealth Gap
1:05:13 - When Will QE Re-Start?
1:07:16 - How Vulnerable Is The Banking System?
1:09:00 - The Timeline For The Fed's Next Crisis
1:10:34 - Wrap-up
#federalreserve #inflation #moneysupply
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Brilliant Guest Brilliant Analysis Adam You are True STAR 👍👍👍
Very rarely you can get chance to talk to somebody from the Fed
I thought Adam could have asked some tougher questions. I read Lords of easy Money and I would have liked to know if Thomas Hoenig had have persuaded the FED not to pursue QE would USA have had deflation? I liked to know if post GFC QE's intention was to filter into the real economy but instead filtered into the financial economy due to the low velocity constant in the inflation equation. I'd like to have known why the FED post GFC balance sheet went from 905 bill to 4.7 trill and if their intent was asset inflation. I'd like to have known how close the USA was to negative rates in 2019 with the 10yr treasury at 1.48% in Sep 2019 and a bond yield inversion in April . I'd like to have known how much the FED backstopped the REPO market in 2019. I'd like to have known what the intended benefit of the Fed CBDC is. Hopefully Adam will get Hoenig on again and ask some tougher questions.
Total respect to Dr. Hoenig for his sharing his knowledge frankly.
Agree a lot of if have had physical demanding jobs vs setting. Agree when you hit 60 the body breaks. Cut the entitlements
Iv got no respect for him I bet he never said anything about this when he was at the fed
The problem with the USA and the entire world is central banks are now completely plotical. They are woke idealogs and they wanna get rid of cash entirely. If they think people are gonna trust banks globally when they are this psychopathic and disconnected from reality, then they should put down the crack pipe.
@@venaedirie6314 He’ll never show any leg where fed operations are concerned.
Stop listening to those who want to perpetuate the FED control paradigm. DEFLATION and DEPRESSION are what we need to make things affordable again. However, we also need a NEW PARTY dedicated to outlawing the super rich so they can't manipulate markets or influence lawmakers anymore. Starting with outlawing CENTRAL BANKS. Then we need wealth taxes that take away ALL personal wealth beyond $10 million. And use it to pay off the national debt and relieve the tax burden of the working man. Then outlaw ALL political spending. That should NOT be a constitutional right, as the rich manipulators of the world would have you believe. Candidates can express their views on CZcams. Not with political ads on TV. The movie "Mr. Smith Goes to Washington" perfectly illustrated LONG AGO the need to remove the rich man's influence from our country. After the elimination of the FED, distribute dollars to banks directly from the TREASURY and charge the BANKS interest for the use of them. Also require banks to provide 0%, 30-year loans to FIRST TIME buyers of SMALL starter homes. It's hard to be financially secure without an affordable home. The same with loans for cheap used cars. Let banks make their money off of people who can afford the upgrades. Luxury homes, cars, boats, etc. They can also boost production of small homes by giving tax breaks to builders and suppliers of building materials, for every new starter home they produce. And local governments should not tax those small homes after the initial loan is paid off. So there is no threat of losing your home when you get too old to work. There are solutions to problems. We are just not electing lawmakers who will implement them. The "news" networks promote the WRONG ones. They are a HUGE part of the problem.
Dr. Hoenig sounds so reasonable! Can you imagine an America where we adopt "shared sacrifice"?
IKR...when I heard him say that I thought about how there is basically zero interest in that aspect of things because virtually everyone feels "I earned this". We have spent, virtually, the last 60 years reducing top marginal tax rates.
You did an outstanding service to the public by bringing this interview! Dr. Hoenig is a national treasure.
Unfortunately so many Congressional members are self-serving, and pander to the PACs that keep them in Congress, rather than serving for their districts and common good. And the lack of financial accountability is awful.
EXCELLENT INTERVIEW!
This is your best broadcast yet! Dr. Hoeing addressed each question directly. Great guest!
Yes. Incisive, and articulate. Great guest.
I'm viewing from the U.K. Adam Taggart has no equivalent in this country. He is an outstanding interviewer and his knowledge is impressive. His motivation (to make micro and macro economics understandable to the masses) is truly laudable. His guests are also top drawer. I've gained an understanding of U.S.A. financial system which does differ from the U.K. First class stuff.
I agree with you I come from the north east of England in a run down town called Middlesbrough were do you live
Echo your thoughts, with one big exception I think the geometry decay of the dollar is very similar to the decay of the pound and all who use fiet
Me too. Our roads are full of potholes (to use one example) and we still give away 0.7% of GDP to foreign aid. India one example. That should have stopped 50 years ago. I could go on and on but you get the point. Would love Adam to come over here for six months and discuss our issues. We are not the global reserve currency and we are not going broke for the same reasons as US. But the whole western world is slowly, but surely collapsing and all we can talk about is transgender rights.
Gary Stevenson is a Brit and he does great content
@@QILOOP-ob1fq have you heard of Gerald Celente who does great content aswell
Next guests: Jerome and after him Greenspan. This show is hugely underrated
No, no, no. Fed Chairs won't reveal anything, and Greenspan would spend all his convoluted efforts to justify all the mistakes he made that got us down this road.
No it can't be done Dr. Hoenig. Not in an expansionary debt based system. We are past the event horizon in this system.
What’s your credentials?
@@marksanko6138I'm an ex Fed Exec. 🙄 Just my opinion given what I see and hear today and know of this system and where we are in it and the actors involved.
@@marksanko6138 Sir, the people who supposedly HAVE "the credentials" are the ones who created this mess!! Your credentials argument fails, just like the decisions made by those who have your highly regarded "credentials."
Yep, and that system is worldwide so that also limits the effectiveness of US actions. Thank God for Bitcoin. Maybe that will provide a way to transition to sound money with the least amount of pain and the highest degree of justice. It seems a realistic enough option at this point to warrant some allocation.
@@casamurphyNothing against btc except the current price. I'm a silver guy at these prices.
He sounds so reasonable. I’m 62 and want to retire in 6 months. I have a 30K annuity, plus a 401k depleted to 150K of money that I’m not sure what I can do with at this point. My retirement plans seem to be out the window.I need professional help
With everything going on, consider financial planning, … that is okay. You can get your money to work for you. but I would say delay retirement a little.
I have heard how they can help you make the best decisions and to be honest I don’t want to lose anymore money or I will have to work a job in retirement to sustain for God knows how long.
And what if that is all you have, even with SS you may not have enough to retire with. If you opt to work with a financial adviser, Dyor, make sure they are certified from AARP or FINRA.
Can I get the contact info of the person you work with?
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
It's all very nice to hope for an ethical approach and a solution to our financial sins over the past several decades. However, once a nation has so willingly pissed away its wealth by deceiving its citizens with the attractions of a casino, Karma must come calling, and the example must forever be established for future generations to acquire the necessary Wisdom.
The Fathers of Financialism have woefully indebted the children of this nation with an insoluble dilemma, and are worthy of the condemnation "ashes to ashes." Let no one provide apologies for their defalcations!
Adam: Mr. Hoenig is an excellent guest.
This show was by far the GREATEST of all time......my favorite part was you asking your 17th "Last Question" 🤣🤣
The best questions were at the end
Adam, you have the most integrity and regard for the regular investor, which is why you attract guests with great integrity as well. Always thoughtful, balanced questions with a dash of humor. Appreciated honorable Hoeing's experienced insight.
Dr. Hoenig is a good and honest man.
You'll be saying that yellen Powell and banankee are honest people he was part of the crime sindicat I guess criminals can change I believe that they call it rebilatation lol😊
@@venaedirie6314 Dr. Hoenig was the only dissenter in 8 straight meetings where voting results for QE where 11-1. For 8 straight meetings he was the ONE. Get your facts straight.
When a former head of the FDIC says he is "extremely worried" about the US banking system I sincerely hope that people are paying attention.
There won't be any banks once we switch over to a digital currency. The government would be the administrator and would control everything, that's not good.
Interesting but unlikely.
Though one could say that under that scenario: The Lender Of Last Resort ...has evolved into the Only Lender of Any Resorts.
What could go wrong?
Adam seemed star struck for this one. It took him much longer than even usual to get his questions out! I mean that all in good fun, great interview full of valuable insights from the ultimate insider. When I saw that TM was interviewing THE Thomas Hoenig from lords of easy money, I knew it would be a banger. Adam did not disappoint as usual. Great episode!
Adam always shows appreciation for all his guests, but you can tell he holds this one in especially high regard.
Fabulous interview...and one that hurts. It's not about governing, it's about being re-elected.
Please, please, please bring Dr Hoenig back. WOW!
I am very impressed by the caliber of guests Adam has had on lately.
ohhh are you... wow.. lol..
Most fantastic interview. What a gem of a man. Please bring him back as often as he is willing to come back.
I like how he answered questions directly. He'll never make it in politics.
Adam, you are really a great interviewer and facilitator. What a genuine guy, and it reflects on your guests.🏆Top stuff!
One of your interviews/interviewees. Dr Hoenig had a wealth of knowledge and experience to share. And although his future forecast are not good, he not an alarmist either. Thanks for having him on and get him back soon.
"Liquidity" is mentioned a lot, but what about "solvency"? Pumping money into an insolvent entity makes no sense, does it?
Liquidity has to do with the amount money in circulation. This is controlled with interest rates. Lack of liquid assets causes insolvency
Agreed 👍 they are faking Liquidity
They created the fed and then started to print lol
Yes, the same thing with catching falling knives. I made that mistake before. Now if I see a stock is tanking I decide - sell or hold, but not buy more!
Your right 👍 it's too stupid not to planned we have an insolvent Banking system globally and western governments and no mention of this on the mainstream media
Mr. Koenig needs to be put in charge Fed and congress
Thank you Adam for having Dr. Hoenig on! Please have him back on a regular basis as he's one of the few that really has the knowledge and experience to realistically answer our questions.
Totally agree!!
Agreed! Not trying to capture clickbait. In fact his assessment of the banks makes me think - time for a bunker!!
Oh ya raise the SS age and then waste money in a thousand ways not the least is billions to Ukraine. .
I appreciate his wisdom. But i think those thoughts assume integrity. And i believe the system is corrupt, and if they cut the entitlements the savings will be squandered
If we did not help Ukraine Putin will win and take over Europe. Is that what we want?
Correct sir.
The fact that without Russian Assets the G-7 Nations will not be able to produce Industrial Products,
indicates the reason for attacking Russia through Ukraine.
That appears to be the intention of US efforts since the CIA began to send former German Soldiers,
into Ukraine in 1950.
The idea that Capitalism is a better system than the Communist production methods,
seems to be indicated as untrue.
The Capitalist method of resource exploitation is to develop domestic assets,
until the profits are gone,
meets the effect of producing enough to feed and house the population.
The Russians have resources in large quantities.
The USA used up and exported infrastructure by the 1970's
I participated in the delivery of many of the elements that were delivered to Seaports.
The Colonial Nations that have been the source of material that Commodity Brokers thrive on,
now appear to mostly be joining the Trade Union of BRICS.
The "Supply Chain" appears to be asking for fair prices for their Assets.
I assumed the system was corrupt in 1968.
Look at us now?
Don't worry, the zionists love spending your money too lol
Dr. Hoenig is the kind of astute, brilliant leader we desperately need right now. We were fortunate to have him as a Fed President. Great interview choice. His book is a must read for a clear understanding of recent Central Bank history.
Dr. Hoenig says "we did it" in the 90s. My understanding is that in the 90's we got to having a surplus (=yearly expenditures are less than yearly revenues) such that the debt is being reduced, but we hardly made a dent in the debt. And at the rate of surplus at that time, I don't know that we would have been out of debt in 20-25 years as Dr. Hoenig expresses that he would like.
My understanding listening to what he said was that he would even be happy with gdp growth rate exceeding debt growth rate so that we would eventually get a surplus in 20 years
I greatly enjoyed your interview with Dr. Hoenig. Honest, experienced, and insightful. Please have him back soon.
Hoenig is a Gem in these confusing times ... honest, experienced ... I too was there with the FHLB in the early 80's ... helping Volcker clean up the mess ... decades later our leaders, including the Fed continue to *uck things up ... we need markets to adjust things
Utterly outstanding. 🎉
YES, Please return!
This is an incredibly poignant and powerful conversation. I think the hypothetical meeting Dr Hoenig discusses that needs to occur between The Fed , The Congress. the Treasury, and WH regarding cuts and taxes will eventually occur. However , given the lack of true leadership and integrity in these roles, my prediction is it will take another 2007-2009 time period to bring this discussion about. In other words, it will occur only due to big economic trouble and chaos. There are too many individuals on both the fiscal and monetary sides that are currently putting their heads in the sand or living in denial or prioritizing the gravy train, or simply complacent because they themselves are highly affluent. This needs to end but, again, it will be the system profoundly breaking once again that will push these parties to mandate solutions. I think Dr Hoenig is also correct that the 1990’s approach of spending cuts+ increased taxes will be the ultimate outcome to stabilize a bad situation.
Raise the Social Security age to 70 from 67? Well, I didn't sit on my ass, I had to work using my physical body, a land surveyor, on my feet, carrying expensive equipment over rough ground for 45 years, and guess what? Physically you can't do it anymore, you start breaking down in the early 60s.
There have been proposals to allow people with highly physically demanding jobs to attain full retirement age sooner than other folks. In fact, Social Security May be doing that now.
Social Security is a ghost of the Boomer past. Like buying a house for $30k and a firm handshake, Social Security will be a dream by the time I retire.
@@garyschneider6644If this passes, then everyone will say it's unfair. Then the age limit will lower for everyone.
Or switch to a job that is more sedentary. About to turn 65 I don't want the Social Security age increased to 70 either, but I don't see how we can continue to pay benefits with most people living well into their 80's, especially with a shrinking work force.
Raise the cap.
"Unless we change our ways..." who's we? It's not like WE have control over much of anything.
Great interview. The bond market needs to force us into austerity. The politicians and fed have no backbone.
And those of you who think Trump is going to fix things, good luck on that. He's more corrupt than the rest of them and he only will have 4 yrs, he can't run again, or can he? He might change that too.
I remember Ross Perot saying “shared sacrifice” and ….
I am based in Australia. I have sought over the last three years to understand how the global economy works and what are the key drivers to macroeconomic conditions.
I have followed Adam Taggert from his previous channel to Thoughtful Money. Adam is such a fantastic journalist; an interviewer of the highest quality who seeks to understand his guests in detail.
I am continually grateful that I have found Adam via this platform. If you gain access to Adam’s Substack you also get Adam’s interview notes which provides even greater insight.
I have now watched three years of interviews. I can honestly say that this interview is one of the finest in the last three years.
Do yourself a favour, follow Adam and open your mind to learn.
I am extremely grateful for your ongoing work Adam and your ongoing stream of quality guests.
COVID certainly woke a lot of you up from your slumber..... .. but umm Too Late she cried.... we have entered into the biggest economic and social collapse in recorded History.... If you have any savings which most of you do NOT have these days get them out of the Bank... There is about to be a massive run on the Banks.... ALL OF THE BANKS... In every country... Your "big 4" included... and your other pissy "half a bank's" too
Incredible feat getting such an experienced and knowledgeable guest, Wonderfull.
He lost me at the very beginning as he recited the noble reasons why the Fed was created. I don't think we will ever find "The Creature from Jekyll Island" on his nightstand. I will say he is better than the current crop of fools.
Wonderful high quality interview.
Superb discussion. Thank you!
Thank you Adam. The quality of your guests is better than any on CZcams
Relying on the Fed to set interest rate policy is like relying on a classroom of kindergarteners to determine how much candy we should eat for breakfast.
🤣!! 💪👍
110% on point!
All the financial problems he mentioned are rooted in fractional reserve banking (leveraged lending), eg bank runs . Interview an expert on limited purpose banking . This would solve all these problems without impenetrable bureacracy and centralization of power.
Agree but how do we do that?
Oh my God....this was such an enlightning conversation with Dr Hoenig. As an insider of the system , he nicely summarised the problems without making them black & white.
Please bring him back whenver possible , specially when crisis hits. Would love to hear him again.
Really enjoyed this interview and look forward to watching him again.
The best and most informative interview in your channel, cheers ❤❤
Legend
Of all the people you have had on, Adam, Dr. Hoenig is a definite must for you to bring back to the channel. Please invite him back on, when he is good and ready to answer some more of everyone's questions. He gave me a fascinating, albeit brief, insight into the federal reserve. Thank you.
Thank you Adam for having this terrific guest. So much great content. Keep up the good work.!
So let's see if I got all of this:
1. Jerome Powell does not want to be Arthor Burns although he's already worse than Arthor Burns in my book
2. Housing is screwed for many years to come. An entire generation will likely never buy a house.
3. Jerome will attempt to thread the needle but eventually find himself in a delimma where he must choose 1970s inflation or job loss recession. If it's a banking crisis then Powell will be forced to choose 1970s inflation confirming he is Arthor Burns. But we appear to be good until 2025 (likely mid 2025) before such scenario happens b/c a half tril in liquidity left in the system.
4. Our national debt can continue down this path another 10 years before we slowly bleed out and kill the USD/country
Adam, thanks for asking the housing question. Housing effects all of us and is an important one to ask. I would have liked to have heard his thought on gold prices. Nevertheless, great interview. Probably my favorite so far! Thank you. 👍
Your spot on he's burns 2.0 he has realised that he can't be Paul Volcker 2.0 debt that they caused is to high
Bitcoin/Gold = Life raft.
Powell is a hero. Yellen and congress are doing stealth QE. This along with many other issues have caused the inflation genie to get out of the box. Powell is stuck, he knows he needs to raise rates because if they were tight enough, inflation would not be still going up. He can't raise becasue if he does we get a banking and commerical real estate crisis that will eventually bleed into the residential housing market. He is not trying to thread a needle. He is stalling from time. It is not going to work. Next we get a liquidity, collateral, and housing crisis all at the same time. There is no way out of this now. No one can save us. The math no longer works. When will we see hyperinfaltion or a crash (because really it doesn't matter which one we get they will both be devistating) ... When the yield curve reinverts that is when. The longest yield curve inversion in history was 624 days, or 20 months. We are currently at 20 months. So we have tied the record. I don't think we have much longer to wait, but the longer it stays inverted the worse what comes next is going to be. What is different this time is the debt levels are crazy stupid, deriviatives (folks going long Index ETFs) because the don't know any better, and people buying things they think are assets (like houses) that are actually worth half of what people think they are. To know if we are going to get a crash or hyperinfation is super simple. If Powell resigns, that means Yellen (Lord Sidious) and Congress (worthless and evil) won. In that instance hyperinfation is just around the corner. Should Powell survive Yellen and Congress we have a chance. We get a real nasty crash but at least America will survive.
He’s worse than Burns for sure. At least Burns didn’t have a historical precedent to guide his decisions.
funny seeing people in the comments up in arms about changing (not cutting) a program when that's what Dr. Hoenig called out as being the blocker to austerity. Looks like we're going to kill growth off for future generations because of short term thinking, sad.
Anyway, great interview
This is all done by design
Another excellent interview. Thank you
Great interview! Thank you!
Finally an advocate for meritocracy.
Excellent interview and Great Guest ❤
One of your very best interviews. I learned a lot. Thanks
Solid. Learning from experience is invaluable. Thanks!
We don't know where to put our savings. The government is stealing our money through inflation 😢
they're stealing our lives through inherited national debt and taxes. why not just print the money to cancel everyone's tax obligation if mmt works? straight up thug ponzi
Physical silver & gold gold no counter party risk and are a hedge against inflation. Both metals are taking off, but haven’t reached their apex.
@@mondolilith7917💯
Gold and silver
My main thing with silver and gold is buying at this all time high. If we see people start to get down to their last pennies they will sell their precious metals. This will put downward pressure on metals in a recession. At an influx of adding more oz of gold to my holdings when that initial downturn may be attractive to wait for.
After watching this interview, I also watched Dr. Hoenig's interview on David Lin's CZcams channel. You must watch that one too. He asked very direct questions and Dr. Hoenig was very forthright. Such an intelligent and honest gentleman. Best wishes to Dr. Hoenig.
I have a feeling this interview will be remembered in the far future
Suggest a discussion of stock buybacks, both pro and con. It is maybe the single biggest factor.in your haves and have not discussions. Dr. Hoenig is a saint.
No company wants to hire or keep people to 70😢
Some might need part time brains with a lot of accumulated expertize
@@mattirae4191 please do tell which companies?
Companies are laying people off at the moment exspect to see bank falitures in 2024 and he knows that the world is in a depression by design 😊
Some 70 yr olds work better than the young ones, at least they'll show up to work.
@lamarravery4094 I know that but they don't hire
How can he possibly think that bringing Congress into Fed Policy would impose “more discipline to the process”? Would anyone include “discipline” among the attributes of the US Congress, or integrity, wisdom, trustworthiness, or long-term thinking? Yes, we definitely want to give Congress more control over monetary policy.
In some of your interviews subsequent to this one you referenced this conversation with Dr Hoenig positively, and so I just circled back to listen to it, and oh boy, you're right, this was a fascinating discussion with a man who has played such a significant part in the monetary policy of the Fed. Loved how very plain spoken he is (not all FedSpeak), and willing to address all questions.
Glad you found it of value!
This guy is the best. Hands down the best.
Awesome Thomas is a gold standard guest this Fed Powell should watch this interview
Really enjoyed this interview - as usual
Clear-headed, even-handed solutions to owning our national debt problem. Can we clone this man???
Adam, thank you for everything you do on this channel.
Fantastic conversation, thank you Dr. Hoenig and Adam!
He hit it out of the park - Excellent
Thank you both very much indeed!
I began really worrying about deficits in 2002 at age 41. I’ve been shocked at increases in 2008 recession and 2020 covid. I knew inflation was coming and probably soon after retirement. I was right. Retired at age 59. In 2020. Worked nights for 27 years as airfreight pilot. International. China , India ect.
The irresponsible and broken Congress running these deficits and the omnibus spending are disastrous.
Adam You are a asset to society
Really wish this conversation could have been three hours!
Yes we did. Thank you for your time.
Thom is one of the few Fed representatives that i actually have any respect for. He was the LONE dissenting voice on ZIRP for a couple (if memory serves me correctly) years during his FOMC tenure. Well done singling him out for an interview! My favorite quote from this legend was made during this time:
"Monetary policy is a useful tool, but it cannot solve every problem faced by the United States today. In trying to use policy as a cure-all, we will repeat the cycle of severe recession and unemployment in a few short years by keeping rates too low for too long. I wish free money was really free and that there was a painless way to move from severe recession and high leverage to robust and sustainable economic growth, but there is NO SHORTCUT."
Well done singling him out for an interview!
Really interesting interview!!
Thank you for having Thomas on!!
Brilliant
I love your questions Adam Taggart! Seriously, especially the one about the business cycle and downturns. It is true that downturns are natural and correct for imbalances, and if you keep kicking them down the road they just get bigger. And then, what? At some point there's nothing you can do, and you have a massive problem.
I just discovered your channel and have taken away a lot from this interivew and your thoughtful thinking and highly respectful demeanor. Thank you Sir, for creating such high level content for all of us, Greetings from Germany.
Velen dank
best interview to date
That really sucks Adam. Those were very important questions that I would’ve liked to heard instead of all the previous period ones that we could prepare ourselves and those questions were now left an answer.
Thanks Adam, what a treat. Appreciated.
Excellent talk. Much obliged.
Another great interview, and thank you for the unfiltered perspective of what goes on between the Fed and D.C..
This interview was one of the best you have done.
Thank You Adam for providing great Guest. That provide insight of all thing's macroeconomics. I appreciate all you do. 💯👍🏾✅👌
Blown away! Super helpful as we are trying to navigate in a world where everything is falling apart. Loss of home ownership and loss in the markets. Seems like it will be a dream that is dead to achieve it again. getting it through my head - we shall own nothing and be happy.
This is great! Please have Dr. Hoenig on again soonest!
This is one of your best, Adam. Thanks for having Dr. Hoeing on.
By 2030 we will have a break down in the financial system
I think you are way too optimistic, I would be surprised if we make it to 2026.
thanks much for bringing him on
Amazing explanation. Thanks for bringing him asking the right questions
I like how the ones no longer “IN” the system come out and speak out the truth or money making (CZcams) material.
Most retired CEO’s never say a bad thing while receiving the pay check, but once they use and abuse their positions, only then they speak out, “walking rich criminals”
Yes Indeed, I enjoyed this interview immensely. Thank you both, very much.
Thanks for bringing someone like this on the Channel, thanks for the Work!
Wonderful interview , excellent quality of mind !!!