'This Is Immoral': David Schweikert Issues Dire Economic Warning To House Colleagues
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- čas přidán 29. 04. 2024
- On the House floor, Rep. David Schweikert (R-AZ) decried the fiscal state of the U.S. and warned that stagflation could occur.
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I feel so bad, I've watched so many videos of this guy. He does his due diligence and puts so much effort into his charts and speeches to communicate this in an understandable way, and no one is there to listen. No one in this government cares to take this seriously because the consequences don't apply to them
They are too important to be there. I guess they don’t get paid enough. There should be a punch clock with time cards, they should have to check in or not get paid like in a factory.
No one listens including his colleagues because he’s so much smarter and comes prepared. The place is empty.
It makes me sick to see that. Those seats are for the representatives that work for US. Get your asses into your seat and do some work. Or maybe we get a list of all representatives that aren't in their seats and vote them out.
@chrisd4841 don't even bother with a list, just vote them all out.
The consequences aren't applying because: lobbyists
Politicians don't give a dam, they leave office with their millions
Some do
Donations from the USA military industryal complex . 😂
Obamas net worth when going into office was $800k. When he left $40,000,000. That’s not ok.
Obamacare kickbacks took him from being worth $800k when he got into office to $40 million when he left. To MAKE us have insurance. Thats wild.
@@jmanke605790%
They all know, they just don't give a shit.
they are also, middlemen, in the whole scheme of it.
@@Emerild Yup. Paid decently for it too lol
They do give a shit actually because this is by design.
Buckle up folks. Some seriously rough waters are ahead.
They’re already here sadly. But you’re right. We haven’t seen anything yet. Anyone who’s in sales of non necessities knows how bad it really is.
I saved myself and my 25 - 40% tax losses (inflation costs/market losses) by not purchasing Anything but food and gas! Fixing to rid myself of tech costs too! My dem friends don't seem to be even minimally good at accounting losses & gains. They all believe taking three steps back and one step forward equals positive gains. It is truly bizarre.
@@redhead8777 When I see around me I have the feeling of being the only stupid in my street who has cut expenses and lives prepearing for the worst. I have been in protective mode for 2.5 years and I am starting to think if something is coming or not... All have remodeled their houses, bought a new car, going on vacation, hiring a lawn guy... I am just waiting
@@junal27 All I can say is DO NOT compare yourself with others & try to keep up with what might be Them going off the financial cliff. Do what You know is right for you & your personal circumstances. Imho: Pay down (mortgage) debt and save for a time coming (when you are not flush). My dad called it "being prepared for rainy days." Pay off your mortgage and take good care of your home (assuming you own a home). Those neighbors might have inherited money or are charging credit cards (bad) to the max or might just be getting (labor) help from friends. Just don't be tempted to extend Yourself financially in order to compete with Them on what you See Them doing. Do what is right/good for you & Your Future. I have saved tons of money figuring out how to (light remodel/landscape/auto repair, beauty, fix things) & do things myself - this also keeps me busy and out of stores & the temptatiion to buy! Only when it is way over my ability to do something will I hire it out! Keep your head up - you can do Most of it and SAVE BIG $$! Pay Yourself instead of someone else if at all possible! Become your own lender. Use 1/2 of whatever product you are using etc. Cars, vacations and credit cards are bad investments unless you are Very wealthy and have excess cash after mortgage debt is paid off. I was lucky enough to have parents who modeled how to scrimp & save - but That entails being able to say no, swallowing pride & being a planner (to get ahead of Necessary expenses), and doing A Lot myself. It is Very helpful to take good care of the things you Do have (especially your home/car). Many times it involved going without something I thought I couldn't live without ( ie "designer" jeans v regular jeans, cars etc.). Don't even fall for that - Nobody Really Cares about it! And if you have children it would be valuable to teach them these lessons = to Never try to "keep up with the Jones' "- That thinking is a POISON PILL to body, mind & soul - as it keeps you chasing Stuff & imprisoned to spending what you don't have. FOCUS on YOU. Don't be concerned about what others think... Hope these tips help someone!
He is correct. We are in real trouble.
@@creasunsetI wouldn't trust Bitcoin with the IRS because it's untraceable currency which means you can be charged with money laundering.
@@sethspence5552 The State is buying into it, it really can't be trusted. It's just money laundering, alas some of those doing it are State sanctioned.
the western world is in trouble.
@@dard683 we are killing ourselves with low birth rates
@@dard683 we are killing ourselves with low birth rates
Why is nobody talking about the waste fraud and abuse linked to the defense budget. I’m not talking about cutting troop readiness but when a 10 pound bag of bolts costs $50k etc. and the defense budget is as bloated as it is, there is a real fiscal responsibility opportunity without cutting entitlements. Just throwing it out there.
It's not just defense, medicare is twice as high as it should be thanks to all the perks in it for insurance companies and medical facilities. Between the two we could probably halve the debt.
Exactly
And the 95 bilion for Ukraine and Israel 😂
Or the trillion every 100 days to take care of illegal immigrants. They’re trying to break us to make us go to cdbc’s.
Nobody talks about it because that's how these people get rich. They've been selling out for decades so they can retire with $240M like ol' Nancy. What's surprising to me is that we keep voting for it.
I don’t care if you’re red or blue. Congress needs to be filled with adults who know the issues instead of being sensational or putting out shows for popularity. We don’t need Trump or Biden, we need adults like this guy.
Amen.
We cut regulations, we cut taxes over and over for the ultra rich, we never stopped monopolies from forming, we funnel money into a black budget. This is our own fault. Definitely both sides because they both answer to their puppeteers. The ultra wealthy own our politicians and the DNC/RNC, and the feds. The mask is slipping, and they don’t care.
The stock market should not rule the world. There is no such thing as infinite growth.
It's traditionally called "sabotage".
This guy is talking sense. Common sense doesn't work in government.
At what point do you want to physically hurt these people for ruining all our lives the way they did?!?
It’s not just the politicians. America got the fiscally irresponsible, big-spending government that the VOTERS of this country VOTED FOR. 😡 We have seen the enemy, and it is US!
There is no free lunch. Want a good economy? Want a good life? STOP voting for big spending politicians who promise you something for nothing. It’s a big lie. Nothing is free.
Years ago.
It’s so effed up this is all planned. We have no say in how they steal our moneys it’s absolutely maddening, I’m a single mom and work two jobs and they want me to pay 500.00 in taxes when they already took 30%. I’m not paying
This is how a revolution starts
People would rather argue over how much of a victim they are or how they can’t work because they wouldn’t make as much as they’re worth without explaining to us why they’re worth so much compared to the people that have more experience and work harder than them.
He’s talking to an empty room?
Yup. Every time. :(
He's explained this before, the room is only occupied when voting is going on. This is essentially an after hours speech that is broadcast around. People are in their offices or in committee meetings.
No one wants to hear this in Congress. It goes for both sides. @traineewaden906
Don't you know? A.I. has made audiences obsolete. See? There is hope.
call your rep! Biden entire group are ignorant in math
Excellent speech. I appreciate this man very much. God bless this 🙌
Everyone in America should listen to this
Nobody cares. Literally most Americans believe MMT can be implemented.
Even if they do. They don't understand finance and the bond market 😂
No matter who listens there is not ONE thing anyONE can do about it.
As if people will understand
@@TheBarrwen they will Not it takes many years to study economics and finance like me ordinary people don't have idea what is going on. Government debt long short term gov bonds inflation so on.
Congress is for sale. On the take. BOTH PARTIES. And Congress mandates the Federal Reserve. What could go wrong?
89% according to google are Dual Citizens.... all bought and paid for by AIPAC
Do you really think it’s both parties, to the same degree? It’s not even close.
@@jacc9061No, he's right. BOTH parties needa to commit or else we're fkkkkkk
@@trieet9827 dunno. One party tried to steal an election. That doing f’d right there
@@jacc9061stop letting bipartisanship blind you. Both sides of congress are making a killing in the stock market while bankrupting the nation.
Most of them don't even care.... They've got theirs.... So what's the big deal if the country is destroyed????
it will become an issue if those billions become worthless because the paper it's printed on fails as a currency.
Treason
You mean all the money spent on Ukraine?
AIPAC.
@@yamanator10wtf does AIPAC have to do with this?
@@Ayzaharcongress bends to it's will, so if AIPAC demands we continue funding foreign intervention then we continue to fund it
@@SkylearJ How much funding for foreign intervention did AIPAC demand?
“If blockbuster would have hired enough lobbyist, we would have slowed down the internet for them” …. that hit different!
Australia did that for Murdoch
Notice how no one is in the house? In other words the representatives of the people don’t care for the people they represent.
All representatives are watching from their offices in their respective buildings in the capital. The floor is only full when voting is occurring, it's only used for individual member's speeches and voting.
Still, do you think anyone is really watching him? No! I doubt it very much. Everybody is just going with the flow, same with us too. We watch these videos in hopes that something will change and it doesn’t and nobody cares.
@@krissto22Right on!
Never listen these politicians. Instead watch what they do. Most of them
speak well but watch how they vote. He talks about savings and credit but he voted against the Consumer Protection Act and Volker Rule. He’s full of it. He talks about saving Medicare but voted to cut it.
Who would thought, a rational, free speaking politician?? Thank you for your service Mr. Schweikert
I know and. . . a Republican! I had no idea there were any good ones left. This is an eye opener.
He’s just a well spoken liar and not free speaking - most of them are. Dude has expressed cutting Medicare and SS. He’s also been investigated by the ethics committee for messing with campaign funds. Look it up.
Thats one of the best speeches out of a politician ive heard in years.
You know Econ majors do not understand this? They do not study this sub field.
We are fucked.
The US will be forced to lower rates like Japan in the 90s.
The original constitution should of said all sitting members runing for election must pass a A Bachelor of Economics (BEc or BEcon) is an academic degree awarded to students who have completed undergraduate studies in economics. Specialized economics degrees are also offered as a "tagged" BA (Econ), BS (Econ) / BSc (Econ), BCom (Econ), and BSocSc (Econ), or variants such as the "Bachelor of Economic Science, then if they still screw us over they can't clame ignorance! Lol 😆
Every Econ major understands this.
Feel proud to have this man as my congressman 😀
The bonds are cheaper in Greece? Greece which went officially insolvent in 2009? Yikes. US has got to get it together.
They don't care...everyone has their own agenda. That's why nothing ever gets done.
And that is also why the Melting Pot theory of America doesn't work. Every body is different, and everybody is in it for themselves. There is no Unity, and that is a major weakness because there is no organization.
EVERYTHING IS A RICH MAN'S TRICK: Medical science has gone nowhere for decades..My doctor couldn't even diagnose a simple medical problem I had for four and half years of misery, called a fissure on my A-hole. The problem is that the Wall Street filthy dirty rich have taken control of most of our medical facilities making most doctors employees who no longer serve the patient. They serve the filthy dirty rich on Wall Street to make profits by cutting corners, and austerity in the medical business. Healthcare should not be a for-profit business, it should be a "service" for "all" American citizens. Americans could save close to a half $trillion dollars per year on universal healthcare called "Medicare for All". Stop padding the wallets of the filthy dirty rich.
.79 cents of every dollar in medical is to health insurance racket.
To be bluntly honest its by design and you would have better retirment outside the usa. 😢
I'm old enough now to remember a better country and the people runing it now have no morals.
I’ve been thinking this way for a few years now. There is finite way of pairing atoms and there is a finite number of elements. Therefore we have limitations to our overall advancement. I think ai is likely the last push and it’s the only major advancement in the last 100 years and one that was piggy backed off of existing tech. I think the day will soon come that efficiency is key to longevity for the human population and we will have what we have . No more no less. Perhaps we can pull in resources from asteroids or other planets at some point but our tech and science will remain the same.
Calm down. We all have fissures on our A-holes. We're Americans! That's what the "A" stands for!
Wait, what? It's not?
@@andrewsnyder9262There's no limit to technology. There's only a limit to the pursuit of knowledge. There's not a set amount of elements in the universe. We just don't have the capacity or the understanding to find the others. If the American economy focused on real investment and not greed, there would be no limit to the technological progress that could be made. Unless we eliminate the incessant need for everything to be about profit, no real growth in society or human civilization will occur.
@@user-py7xe5bb1f I beg the differ but thank you for sharing your opinion. According to my research it is highly unlikely that heavy unstable elements exist above 118 protons. We have likely discovered what there is to discover without diving into a super nova. I think we may have nuclear fusion on the horizon but we can argue that we have known of that science and tech for a long time. We are just trying to figure out how to make it work. Maybe AI will give us some new information that we haven’t been able to piece together but I think aside from wide spread automation and more robotics for maximum efficiency to replace human actions, we probably don’t have much left to figure out. I see some breakthroughs in medicine/biotech but advancement is moving at a snails pace. We are slowly making our way to peak imo. Time will tell.
Brace for impact.
Every person for themselves.
LMAOOOOOO
Very well said
Every person for themselves is what got us into this mess.
@tinkeringengr thats right, better gang up
@@squigglesmcjr199 hahaha
Love this guy
If this was a small business the financial adviser would say its time to close your business
Rich men north of Richmond, selling our land and souls to interest, which is decades behind.
It is encouraging to see a member of Congress that understands the ramifications of the Treasury market, but I don't see any movement on the part of the government at large to begin making any real logical changes.
Incredible speech.
This man is correct in a lot of ways. We need to reduce expenses dramatically. Problem is the federal government is incapable of doing so.
What’s the everyday person to do? We have lost control.
Pray Trump gets in or we're doomed
@@drews3980 Everyone seems to think Trump is some sort of savoir who's going to return us to pre 2020 levels when he's in office. I'm not sure he has the power to do that.
Right! Everyone hates how we are funding two wars, and I agree with them.
@@jamesandersonwalshSame thing the people did 250 some years ago. Leave.
Why is it not mandatory all reps must listen to this brillant man!!!!
STAGFLATION
David Schweikert / Scott Galloway 2024.
Let’s save young people’s future!
It’s important for everyone to hear this, to realize the predicament this country is in.
AI will only be accurate if what it is fed is accurate. Always remember the old saying, "Garbage in...garbage out."
If they want to tax unrealized capital gains, we should be able to deduct unrealized losses. Absolutely unreal.
The concept does seem inherently 'unfair' - especially with a sizable portion of it being inflation related and not really a 'gain' for the person holding the asset. At least if it does happen it won't initially apply to most people - eg it's being targeted at individuals with over 100 million. Initially income tax wasn't targeted at most people either, so it's just a matter of time for unrealized gain taxs to hit everybody - but we'll all be long dead by then. Basically, it's not something we should cheer on, but at the same time if it happens it won't really hurt most of us.
GOVERNMENT IS SUPPOSED TO BE ADHERING TO OUR CONSTITUTION AND WORKING FOR ITS PEOPLE.
I DON'T REMEMBER ANY ORDER PUT IN TO ELIMINATE AMERICANS AS A WAY OF REDUCING THE POPULATION. ARNT WARS USED FOR THAT??
@@ualdayan how many times do you think people thought it wouldnt effect them until now we have these insane taxes. income tax was introduced to pay for WW1 and then was supposed to go away. let that sink in. eventually we will be taxed into poverty. btw 400k and up is not wealthy
Since you stole the money to begin with, maybe people like you should pay your taxes! Eat the rich
@@TedThomson-xd8vk You're agreeing with what I said then right?
Strikes me as a good man, we need such people in the UK!!
Thank you Mr Schweikert. I'm trying to get my family to watch your videos. They don't understand where money comes from. Bond auctions are alien to them, but you explain it well. Some of your videos require some prior knowledge of the subject. I wish you did one from start to finish, outlining where we are, how we got here, and the implication to the future generations. Some of my family is elderly and on SS, but they think the US is like it was in the 50's... They would gladly sacrifice what they have to see their grandson's generation have a fighting chance...The problem is they watch MSNBC and don't realize or understand that there is a problem!
There are some people you won't change -- fuck em. If you're the only one in your family that sees it, go save yourself.
It is immoral and hypocritical. Inflation is tax and the US is taxing the entire world, including the poor countries we claimed we are trying to help.
Sure hope these greedy corporations stay comfortable because the revolution is coming.
"do you want to make your banker's nervous?" how about we nationalize the Federal Reserve instead of having a private banking cartel
Love being 26 and seeing what's happening to the economy. So happy these people who were in office literally during the cold war are making the decisions that are going fuck me well into my 60s
Dear god the Republican Party needs to return to these talking points as a whole.
And this is the truth nobody wants to hear
I was waiting for the truth of who is behind all of this because it stinks of planned market failure, because certain individuals will benefit from a market failure at the expense of literally everyone else... Sounds like something the ultra rich might do ...
Proud to have Rep. David Schweikert in Arizona.
Thank you for speaking on our most important issue that is creating American debt slaves.
Empty seats for empty heads.
Has my vote if I could. It's people like this that Americans need
GDP is such a ruse. I don’t get why people base things off it
You in the Federal Government can't pass a normal corporate Audit. But are willing to allow your Congress members and Executive Branch go after a former President who is running for office.
They know they have already lost, hence the underhanded tactics.
Lmfao.. you guys are living in a different reality.. need some help..
@@stevefrench3564 This entire country needs help. That is the reality. Not arguing I know that Trump will be better, but I know we can't have another four of Biden.
@stevefrench3564 so is the government. And we all know, including the people who voted for him, that Biden is absolutely living in a different reality than the rest of us, and needs to be living in a retirement home.
The Federal government isn't going after Trump. Grand jury's were convened. The people chose to indict Trump. Not the government. And...Trump tripled our deficit when in office.
It’s all by design.
This will go all up in 🔥
Or sent to the lake of fire for eternity if they don't repent and change their ways. I choose our Lord and Savior Jesus Christ who is the way, the truth, and life eternal.
I am so glad that David spoke about this. There is good information that our Congress should listen closely to this message. Stop spending more money than we have.
When you cant even afford a Big Mac anymore thats when you have a real problem
Great speech.
I wholeheartedly agree with the man we need change as described at the ending of his lecture. It seems like we've gone from the communication era to the corruption era.
This guy is too serious to be a politician.
About time someone speaks out.
Like trying to tell the fentanyl desperates that what they're doing will not end well.
Why are congressmen depending on our wages for their debts and really idiocy of spending. We are broke. You can’t have anymore of our wages.
Nice speech, but unless you work for cash, you can't stop them from taking your wages.
@@Rhiorrha so true
Thank you Rep. Schweikert!
It's amazing how MSM will cover every drama queen and idiot in congress on the front page but those who actually speak a truth have to rely on Forbes or C-Span. Thank you Rep. Schweikert.
The thieves are looking for a fall guy.
Keep speaking about this. Don’t get discouraged.
Yeh, we are in a doom loop of destruction.
A room of empty seats.
Falling on deaf ears 😡
Maybe our creditors are starting to realize they might need to except 50 cent on each dollar of our debt we owe .
It sure looks like they are not going to be repaid in full
In the projects, not repaying a debt gets you killed. What does it mean for America in the world arena?
Beginning of this speech was great. Went a bit off the rails toward the middle and the end. We definitely need more fiscal responsibility in our government though, definitely agree with you there Mr. Schweikert.
Outstanding presentation ❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤❤
Why do we give social security to those that have all of our societies wealth? Social security should be 1.5 times as much and only go to the elderly that actually need it.
Agree this isn’t a partisan thing. We have to work together to fix this. The crazy idiots don’t need to get involved
We the people didn't break this, our so called reps did. And u can bet they got there's, and have no cares about anybody else.
And the more than can keep us infighting the happier they are to go about their thievery treason
Need to split the congress into econ and civil.
25:05 A healthy economy should taxed between 25-34% of its GDP.
Excellent Presentation!!!!
Every word so true!!!!
We are getting poorer precisely because a narrow elite has organized society for their own benefit at the expense of the vast mass of people. Political power has been narrowly concentrated, and has been used to create great wealth for those who possess it.
Stagflation is here.
Politicians should be interviewed on their 50 year outlook!!
I hate it how our government just keeps spending. I wish we had more control as a country on what money we give to other countries. Personally I don’t think we should’ve been in Ukraine or giving them all kinds of money. We should’ve been preparing for the baby boomer generation a long time ago. We are not prepared at all! This is crazy. We have so much crap coming our way. We are in for hard times 😳.
For the Love of our country, please listen to this man.
we are in for a bumpy road ! fasten your sear belt. The chickens are coming home to roost!
Weve been in trouble since the FED was created...
Exactly all the excess money is going to the fed and central banks around the world. The banking cartels have all the money.
I don't math well and definitely don't do economics, but even I can understand from the pretty graphs that the math isn't mathing. I think this man has too foresight for the space he's in. I just imagined all the brains shutting down when he said "next 30 years." I'm grateful for the 29-minute mark because I was going to angry cry and wallow in hopelessness.
Wow, great interview
Waiting for that 8% Treasury🎉
The true inflation will be higher than bond rates…
Water goes.. where water's been... 23% in the early 80s
Far too late to do anything about it sadly
House: "Thanks Mr. Schweikert... Next!..."
There's a reason why they 'Don't' get it,' it's because the end game for all of this IS destruction, into a entirely controlled system, and to fleece the current system in every imaginable way possible until we get there.
The room is empty …… smh
👏 thank you .. for your hard work. However if you cup your ears you'll hear the raspberries from the very corrupted who hv brought things to where it is today.
So, replace the shrinking work force with automation, automation that doesn't pay numerous taxes.
A lot of businesses are already looking to replace their workforce with automation like fast food and trucking for example. Sure it will cost a lot of start-up money but it will eventually pay for itself and would be cheaper than a human employee in the long run.
The problem is that this still doesn't solve our shrinking population problem in fact it might increase it since more people would have an incentive not to have children because they can't afford them.
Also a large automation workforce would hurt us even further because robots don't pay for services or taxes so we would still take a huge loss on taxes and good luck passing a bill to tax a business for all their owned robots.
We are unfortunately going to have to stop funding a lot of government services and perhaps go private if we want to keep it going and it is scary to think how deep of a financial hole we are in now!
Great speech. Listened twice. Eye opening to see that our politicians only get to vote on a small sliver of the budget. Something is very broken here.
Not sure why I am watching this but it is very interesting to learn about! Thank you for your great work! 😃
he does a great job informing us. ill check out your videos just cause youre here!
The USA will DEFAULT!
The U.S. BOND MARKET will EXPLODE!
"THAT" will send the U.S. DOLLAR CRASHING!
Ken, Toronto, CANADA
Love this guy!!
Very clear story. Electing this person as president would make more sense.
Great speech - one politician telling the truth. However it looks like no one is there ? Hopefully it’s just where he is standing
We need this man, but I just had be lost all faith anyone in this government actually cares about anything but themselves
they care about Israel.....
@desireedebellis6766 no they don't care about the country or people, they make money off war so that's always what they support.
Technology will not cut government spending. If it did, the US government would have shrunk. Everyone is trying their best to keep their job.
The US dollar reserves are failing in with a net 47% and failing.
Nice presentation, he seems very knowledgeable. Obviously we need more men like him
Ok Forbes has been doing better I will give you that.. keep it up and I may subject you to being legit...