"America Is About To Crash Into A Brick Wall"- Wealth, Rising War, AI & Elon Musk | David Friedberg
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- čas přidán 5. 07. 2024
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In this episode of Impact Theory, I’m joined by David Friedberg, a self-described “extreme optimist” who believes that capitalism - specifically entrepreneurship - is the fastest way to improve human productivity and potential, unlocking a more abundant and sustainable future for all.
Today we’re getting into the economic challenges the U.S. face, specifically the risks associated with high debt relative to GDP, and how excessive taxation to service this debt can stifle investment and have lasting detrimental effects on economic growth.
We explore the transformative potential of gene editing, including promises for agricultural advancement and just be the answer to sustainable nutrition for a rapidly growing global population.
We also examine the balance between technological progress and regulatory oversight, the societal divide over adopting new innovations, and how AI could redefine creativity and productivity.
If you're serious about innovation and understanding the future of our economy, you won’t want to miss this episode.
CHAPTER MARKERS:
[0:00] The Unsustainability of the U.S. economy
[54:32] Impacts of innovation & deflation
[1:12:17] Is the cost worth the trade off?
[1:50:18] Rejecting or embracing technology
[2:21:43] Conflicts, politics & fact-based debates
POWERFUL QUOTES FROM DAVE:
"So the government is a customer of many businesses or employing many people that end up working directly for the government or under government programs."
"Things are going to inflate because there's more dollars to spend on stuff and the cost of things will naturally go up."
"We face another critical problem right now, which is a very serious negative view on technology. And I do think that the majority of people don't necessarily think about, if you say the word technology, there's a more negative association with that word than positive."
"So everything about what appealed to people starting in the seventies, as represented out of Disneyland and Tomorrowland was all about technology goes awry, and we have to return everything to a natural, organic state."
"We worry more about loss than we care about gain."
"At any given moment, there is the potential for war, okay, at any given moment, there is someone out there talking smack about the United States, there is someone out somewhere out there instigating, launching stuff at a base. There's always some instigation."
"War historically has driven a lot of shifts in economic productivity. It has driven a lot of growth in aspects of the economy that need to be stimulated."
"In El Salvador, they put all the cartel members in prison and made bitcoin a national currency."
"There's a lot of these kind of social policies that get wrapped up, many of which we could dissect. Is the cost worth the trade off? And some would argue, yes."
Follow David Friedberg:
Website: www.tpb.co/
Twitter: x.com/friedberg
Podcast: www.allinpodcast.co/
Follow Me, Tom Bilyeu:
Website: impacttheoryuniversity.com/
X: / tombilyeu
Instagram: / tombilyeu
If you want to dive deeper into my content, search through every episode, find specific topics I've covered, and ask me questions. Go to my Dexa page: dexa.ai/tombilyeu
Themes: Mindset, Finance, World Affairs, Health & Productivity, Future & Tech, Simulation Theory & Physics, Dating & Relationships
WARNING: I will NEVER ask for your contact info in the comments section, that is someone impersonating me!
Would give it to you instantly if you ever did!! 🥰🤩 l
Love your stuff! Keep it up brother!!
@@johnq1926thats exactly why he said that
Bill Clinton didn't show anything about balancing the budget. It was Ross Perot. People are not open for a third party party.
Generally speaking David Friedberg is a well balanced person.
In Gold we Trust!
Your vote means nothing in when lobbyism is legal. This guy keeps talking about voting, and thinks there is a democracy, when the cold hard truth is there is no democracy.
The illusion of choice is the greatest weapon for the rich.
there is democracy, it is working exactly like all democracies always worked. a system is what it does.
what you're seeing isn't a failure of democracy, but its purpose, its working precise as it should.
1000% correct...all we can do is buy gold and silver and waite
@@luizmonad777 Let me be clear. There is NO democracy. Your vote doesN'T matter. Why? Because Mr. or Mrs. Lobbyist comes along with a big sack of cash or cash equivalents and tells those "elected" people to do what they want. Simple as. You can "vote" for who you want, but your "vote" will never supersede monetary compensation.
There's no future without transparency and responsibility ... all I see is corporate greed/corruption multiplying every God given yr! And it goes globally ... scary af
Tom you need floating floor mics. When you clamp them to the table, everything someone's hand hits the table our speakers pick it up
Seriously can’t believe at this point his audio quality is so mediocre
@t3r083 I'm sure he wears many hats. Just needs an obsessive perfectionist on his team looking at these things. Surprised nobody has caught that yet. Perhaps his people have gotten comfortable. The fear has faded away.
Drove me crazy in my headphones
agreed. time to get pro, the thuds gotta go.
clamping to table is fine, if they're suspended in a "flloating box", which they are not
As Milton Freidman said: "When you spend somebody else's money, you don't care how much you spend, because it's not yours."
The Department of Education is administered by the United States secretary of education. It has 4,400 employees - the smallest staff of the Cabinet agencies[5] - and an annual budget of $68 billion.[6] The President's 2023 Budget request is for $88.3 billion .
Milton Friedman talked about the four different ways of spending money.
1) you spend somebody else’s money on somebody else - you don’t economize and you don’t seek highest value.
2) you spent somebody else’s money on yourself - you don’t economize, but you do seek highest value.
3) you spend your own money on somebody else - you economize, but you don’t seek highest value.
4) you spend your own money on yourself - you economize, and you seek highest value
czcams.com/video/XsRk9RThGt0/video.htmlsi=9VBabMV8IbBg0U7i
Federal Reserve prints money = no problem. Citizen prints money = counterfeit felony. Got it 👍🏻
Highway robbery. Does anyone see problem with printing $? (Rhetorical) Nothing is free. In the end, we pay for it all. We are not being helped, it's an illusion.
We're paying for the printing of $. No wonder we are where t are in prices!
I learned that when I was 11... do more research
@@BB_Icee You're a savant man. Amazing!
Print food, not money. Hatch quail, take their fertile eggs in 6 weeks and incubate them for more quail who will lay more eggs in 6 weeks!
What's realy sick is rich people and china making crap loads of money on treasury bills...driving up our debt and making a ton of money while we get skrewd
Wait a minute! Does this guy think there is a politician who ACTUALLY gives a shit about the debt? Funny stuff
I don't think you'll be laughing when what he's talking about actually comes to pass. Also no politician just "is", you're a voter, you chose him, take some responsibility.
We need to figure out a way to stop moochers from voting.
@@xokelis0015 holy crap, if you think the political system is "of the people" in ANY way.... I'm sorry you are so far behind the curve, I don't see how you could ever recover. It will take at least a decade of research and observation to form a proper analysis of reality.
We have less than a decade before life becomes unimaginable to the average human. 😂
@@4thworldwilderness390 if its so obvious that your system is not "for the people" then yoru founders foresaw that and gave you rights to bear arms
no matter how you turn it its the responsibility of the people in the long run, to keep your politicians in check, but to be fair they use all sorts of smart ways to dum down average people and program them to be what they are
Rfk says debt is our existential crisis. Wake up. We have someone who will attempt to fix some very real things. Stop playing culture war and let’s solve problems.
delusional guy, living in La La land
I grow vegetables for myself to make "stuff.". Ordinary people producing stuff at home, and not being heavily extracted by gov and by BlackRock, is sustainable. All these suburban lawns should be haying for horses and other livestock, and ultimately, the horse manure, adds to soil fertility.
You see invasive vegetation everywhere that has to be landscaped. All that unwanted vegetation can be fed to goats, or cut straight to garden mulch.
Growing vegetables is a soul remedy to the high fructose corn syrup dystopia.
borlest forbidden money books (thank me later)
By Darwin?
This is awesome, I always want to hear more of Dave’s points on All In. He is definitely the highest signal person on that pod.
The government raided the Social Security Insurance fund. The government won't negotiate lower drug prices with drug companies, because drug companies buy our politicians with campaign contributions. The guest failed to mention this.
Please explain in detail how govt raids social security funds. When you fail to do so please reconsider whatever source told you that and learn how to make better decisions in your life. it's truly embarrassing for humanity.
@@JE-bd3wu George W. Bush White House Archives- How much has the government taken from the Social Security fund? The Government Has Borrowed $1.7 Trillion From The Social Security Trust Fund. The government has borrowed the total value of the Trust Fund to pay for other government spending.
Social Security didn't start with a loaded trust fund. The fund (there are two funds, one for disability and one for retirement) goes up when there is a surplus in payments in vs payments out, and down when there is a deficit. The money being paid into the system goes to the people getting paid by the system.
I think people misunderstand the trust funds. They are just a buffer.
There isn't a pile of cash in the funds. There are government obligations. So, really, it's not separate from the money printing problem. It's part of it.
"Raiding" isn't what most people think it is in this case.
Same argument that has been rehashed for the last 50 years in the US.
Here is what AI had to say about SS 50 years ago:
“The 1974 amendments to the Social Security Act addressed these concerns by increasing payroll taxes and benefit adjustments. These changes helped ensure the program's solvency for several decades.”
Well get SS in 30 years but it’ll be 2600 a month and the cost of a studio will be 6000 a month.
@@matthewsmith2362 I was thinking the same thing, and I’m glad I have my house paid down. Probably the only thing that will save me.
@@johnbuckner2828 Your paid of house or anything else will be taken by our Govt. 'You will own nothing and be happy'.
@@kellyname5733 rentals, subscriptions, cbdc, ubi, 5 monopolistic global corporations, but restrictions on my soda size & travel distance.
What happens if you vote somebody in and the person ends up being a liar and does exactly the opposite of what they campaigned on? That's what happens all the time. So, voting is not the answer because people change all the time. They're coerced they're bribed, they're blackmailed. There's all kinds of reasons.
Your describing our political system today and for the last 50 years
They tell us one thing and do another
You have to look at Congress and the Senate to see voting is a BS scam many of them are older guys who have been in their seats for decades and guarantee a win all the time,
They should have to actually submit proposal ma to the public, we approve them & then if they don’t follow through they go to jail. You should go to jail if you promise the public one thing and do another. Oh wait, that would imply accountability.
You have three choices and two have them have already run the government so you know what they will do which has put the US where it is today! So the only choice is RFK Jr which is going to give the country back to the people.
Printing money during COVID was a catastrophe that transferred wealth in terms of real assets from the poor to the rich
It was mainly the lockdowns that did that. The "money printing" certainly contributed to greater income inequality indirectly by driving asset markets higher. Some people like Raoul Pal argue that the ongoing currency debasement is mainly done in order to offset the demographic issues that plague not only the US but all industrialised countries.
@@mwilliamson4198 what would those demographic issues be precisely?
Covid. What a joke.
@@mwilliamson4198 I'm waiting
Dear Nerd Bro,
Nobody CARES about how much money you have.
WE WANT HOUSES.
We want to own a home that we can pass on to OUR KIDS.
The Middle Class is DONE in America.
You can have one
Go buy land and go build your house
People are so out of touch. You think what’s going on since 1950s was the “American dream” lol you were sold a lie by bankers wake up
You are a completely dependent, low economic productivity. The bankers don’t care to sell you anything anymore
You need to go buy LAND to pass down not a “house” you didn’t even build that’s shit to begin with
Not just any house, affordable and in a decent location.
Don't fall for that trap.
This truly is about 95% of what matters today. Very complex in terms of what is driving costs and unaffordability, but the main problem is simple. Until costs plunge by 50%+, the American dream is legitimately dead. I don’t see how more politicians don’t see this aside from being completely out of touch.
i dont work to own nothing. only a slave does that.
they want your kids to rent off them. why would they change that ?
THIS IS WHY I WERE FOUNDING FATHERS DID NOT WANT COMMUNISM OR A CENTRALIZED BANKING SYSTEM. ALL POLITICIANS ARE CROOKS 😡☝️😊
Without fiat currency we would not need a central bank...central banks are the real empire killers
Communism didn’t exist at the time of the Founding Fathers.
Lol communism in the time of the founding fathers? Read a book.
Woodrow Wilson
Communism didn’t exist at the time of the Founding Fathers, and the Federal Reserve is centralized banking.
A great guest, so bright and informative
He has a grasp of everything from science, to the nature of humanity
Why can’t we have people like him at the head of our political systems making the tough decisions
$30 Trillion in debt… but weve got hundreds of billions for Ukraine and Illegal immigrant benefits.
Federal "leaders":
Supply more weapons for other nations and start more wars? Yes.
Help struggling citizens? No way!
We haven't even given them $200 billion yet... so, no... we don't have hundreds of billions for them yet. Not that that matters anyways, an extra 200 billion on 30 trillion is literally fractions of a single percent of debt increase... AKA, basically unnoticeable. If you actually cared about the US debt, you'd name something that actually matters and drastically affects US debt like social security or Medicare/Medicaid or half a dozen other federal programs that actually affect the US's federal debt count. But, of course, you don't care about things that actually matter, because you're trying to make a narrative that we're spending "insane" or "ridiculous" amounts outside of the country on things that don't affect Americans, and that that's why we're in such a tough financial spot.
@@user-xp5id1kh4r Plus it's closer to 35trillion.
Don't forget money to israhell
@@user-xp5id1kh4r200 billion JUST to ukraine.. look what we give NATO yearly, WHO, and aid to the dozens of other countries. I'd guess all our foreign aid and NATO bills equals over 500B yearly.
Speaking of GMOs like they don't come with strings attached is very misleading. Just look at Monsanto and how aggressively they pursue royalties from their breed of rice. If you plant and grow their roce seed, your field essentially belongs to them. That's not to say nothing of the unknown health concerns stemming from GMO foods.
He was an executive at Monsanto
After their contracts ends, they can always stop using Monsanto's seeds and go back to old varieties... but, there's a reason why the average farm doesn't.
@@populisttrope9385sold his company for 1B to Monsanto
I've read that stray seeds that blow into neighboring farmland then become Monsanto's, too.
@@user-xp5id1kh4r Once you plant GMO, the land can no longer support natural.
@02:07:55
Its not that GMOs are bad necessarily, its that some of the biggest disasters that happen to us have come from human intervention by a centralizing authority and on an industrial scale. The real GMO skeptics are skeptical of the claims that GMOs are "safe", because such a claim will only play out in time. We won't know the negative effects, if any, of those GMOs potentially for decades, so people should be skeptical of the "safe" claim.
It's like how Fauci couldn't have known if the jab was safe or not, yet he loudly and proudly proclaimed that it was. Well it wasn't, and all the alternative treatments which were decried as conspiracy theories and doctors were silenced over them ended up being correct. I'll never give up my horse medicine.
Be skeptical of things that have only been around in the short term. The negative effects sometimes take decades to play out. Just look at how bad vegetable oils and high fructose corn syrup has been for us.
100%. The scary thing about this guy condescending to those in FL etc he claims who are just defending the meat industry … I’m a vegan and stand with DeSantis on this! … we won’t find out what lab grown meat and food does to us till 20 years later.
A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage.
- Alexander Fraser Tytler
1747-1813
Great comment!
@@mpvmenon “A society that puts equality - in the sense of equality of outcome - ahead of freedom will end up with neither equality nor freedom. The use of force to achieve equality will destroy freedom, and the force, introduced for good purposes, will end up in the hands of people who use it to promote their own interests.”
-Milton Friedman
...and then Argentinians elected Milei. I'm not as big of a fan boy as these rich guys are, but I'm willing to wait and see how he does.
Friedberg is my favorite of then All-in group. He speaks when he has something valuable to contribute and does not bother with useless trivia. Please never leave the Podcast, it would be nothing without you
I plan to retire at 62 in another country outside the US that is free, safe and very cheap with a high quality of life. I could fully just rely on only my SS if I wanted to when that times arrives but I'll also have at least one pension, a 403 (b) and a very prolific lnvestment account with my Abby Joseph Cohen my FA. Retiring comfortably in the US these days is almost impossible.
Abby Joseph Cohen Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's
The very first time we tried, we invested $7000 and after a week, we received $9500. That really helped us a lot to pay up our bills.
I'm headed to Thailand or the Philippines in 4 years. What country you moving too?
How can i reach her, if you don't mind me asking?
@@CartmellBuri
Well her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
How about food not being able to produce infertile seeds for GMO plants?
Farmers produce plants and are left with no seeds.
Farmers then have to buy the seeds and become dependent on these people. They become disempowered and not free to produce their own seeds.
I think it’s incredible that they didn’t touch this issue that is totally connected with the FREEDOM to control your own seeds.
Farmers need to stop making a deal with the devil for higher yields then. GMO is a freak that outcompetes what would normally be a supporting ecosystem. Buy some portion normal seeds and start rebuilding organic stock before it's too late. Population is going to decline naturally soon right? We don't need to push GMO into unsustainable land then. We need to start thinkin transition and sustainability across the board.
As a farmer… not true. First of all corn does not produce its own seeds as corn is not an actual species of native plants. If humans stop planting corn, it would become extinct in about three years. As for soybeans we we buy seed as it’s tested and treated to repel bugs from eating the seeds in the ground and you’re not even supposed to grow your as you need to introduce new genetics into your stand every year.
You might want to read about what this man is doing with his company today. Your question is his whole life each day with his current job.
There isn't equal opportunity. Not even close. The poor have increased regulations costs and hidden taxes. The 'successful' are not providing living wages. That is the issue. The earnings really aren't all theirs. Corporate ' persons' without any social obligations. Meanwhile they regulate the crop out of me with hidden taxes.
It's ok. Their children will live here. One way or another the wages will be paid. That is a promise!
He say he is a single issue viter but then don't mention RFK Jr, the only man speaking about the National Debt.
Why do people ignore Independents and 3rd party? Its frustrating.
"Its a wasted voted".. No it is not if everyone votes Independent or 3rd party. That would start with people like him promoting 3rd party..
$hare Holder$
Because if you actually care about national debt, just vote Dem. Republicans blew up the debt. Clinton had a surplus which Bush blew on the GWOT, the Great Recession, and tax cuts. Then Obama spent his entire presidency reducing the deficit every year in office and was on track to be paying it down.
The Trump blew it up again and Biden has spent his presidency reducing the deficit again, and using quantitative easing to reduce the money supply.
Anyone who cares about the national debt and votes Republican is unserious
I get frustrated too
Definition of an independent-
You can choose between a or b.
Independent: "we want to choose c."
Because we’ve been hearing how the national debt is going to implode American civilization for eons now and nothing, besides inflation,ever happens.
There's one thing you can always count on. These extremely rich guys always blame the middle class and poor for the countries financial issues.
Yeah these people are full of shit
THEY ALWAYS USE THE "PULL YOURSELF BY THE BOOTSTAPS" NONSENSE.
MANY PEOPLE DONT EVEN OWN BOOTS.
Correct biggest companies tax about 10% and they also invest to avoid tax on profit.
@@jarvanwildrift8056Corporations don't pay taxes. Humans pay taxes. Corporate taxes should be abolished.
@@LegalAutomation corporations dont pay taxes. C'mon get up to speed.
A lot of us wouldn't be worried about our income going up If everything didn't keep continuously getting more expensive! If I made what I make now, but everything was the same price it was 15 years ago, trust me, I'd be satisfied.
Amen JT
Your J O B stands for 'Just Over Broke'.
You can't see how that's mathematically impossible??? Lol wtf
Tell me you know nothing about economics without telling me you know nothing about economics, lmao
I have NOTHING!.... therefore, i dont give a FUCK!😂🎉😂🎉
I'm a poor Fuck too😂..But I have my brain left to keep the hope and keep trying change to it up..😂
@@butterfly2604 lol 😆
Im broke, but I had HOPE... I guess I spent that at the grocery.
Ironic isn't it. Uncle Sam wants you to go to war for nothing? Pure stupidity
You definitely aren’t the only one… 😂
Great transmission. as always. I appreciate the
no-nonsense approach you take to the news and the
markets. A lot has changed and that's about it but
the truth is that I don't even care much about the
bull or bear market anymore because Ashley Anderson
covered me while I'm doing comfortably. 20k-30k
every week and I'm still counting thanks to her❤️
YES!!! that's exactly her name (Mrs Ashley
Anderson) So many people have recommended
highly about her and I'm just starting with her
from Brisbane Australia🇦🇺
Ashley Anderson's crypto knowledge is like a secret
recipe for success
Please educate me I've come across this
before. How can I get to her, please?
She's on tele grams
Anderash
I enjoyed this talk much more than the past 2. Great job. It felt like less persuasion and more education. Solid ✊️
I’m curious as to why in the first 5 mins Tom mentions Trump and Biden and how neither is giving a plan to stop the spending yet he did not mention Bobby Kennedy who has mentioned in his campaign all the issues he’s going to fix including the spending.
Except Trump massively increased the deficit and Biden massively cut it. Under Obama, we had steady economic growth, low inflation, and the deficit reduced every year. If he had a 3rd term, we would be paying down the debt.
@@garythecyclingnerd6219 Biden is on track to break Trump's atrocious inflation record. Biden is cooked. Fighting over those 2 is absolutely INSANE
@@garythecyclingnerd6219 the last two presidents had increased the deficit by more than all previous presidents combined and its pretty much half and half. Federal spending has not slowed down but the growth of the real economy has and the farther the two separate the more apparent the issues will be.
@garythecyclingnerd6219 this is a fantasy. I am not a fan of Trump, but no where does the data indicate we would be 'paying back' the debt if Obama's policies had only been extended 4 more years. He would have had covid to deal with, and would have turned on the money printer, jacked inflation and increased the rate of dollar debasement.
Trump is incompetent, but neither Biden or Obama were fiscally responsible.
@@garythecyclingnerd6219I've heard some insane lies in my day but this comment is probably top 5 now. You're either benefiting financially from these lies or you're just so ignorant of reality you must Biden is doing a "great job"
Please fix the mic so guests can freely thump the table without us hearing it. Lots of boom booms in this very important and valuable podcast.
Why is a few extra noises a problem? You can't focus with any level of external sound other than the voice?
@@ghost9-9ghostthey cannot obviously if they felt so compelled to spend the time to post a comment about it.
@@stephensaucedo6295 yeah...and that's sad....how screwed up does someone's brain need to be that they can't handle the slightest audio imperfection?
He did it constantly throughout the podcast..
I had to take my headphones off
Only in reading this comment did I start noticing it - 😂
His assessment that politics is run by advertising free stuff to the voters seems inaccurate to me.
It's more like a political candidate appeals to the interests of powerful donors to fund their campaign, and once the powerful donors have picked their candidates, the regular voters are left to choose between a handful of corrupt options.
Great conversation. Thanks for letting us listen in. Here’s to life-long learning from the very best for free.
STOP BANGING THE DESK!!
Producer shoulda jumped in after 2 minutes... don't clamp the mics to the desk, put down a foam pad thingy, something...ANYTHING. yeah, unfortunately SUPER distracting...
Drove me NUTZ 😂
He moves his hands a lot.. lol..
Friedburg 2024!! I love that he hated the political side of All In and now he is here. I'm all for it!
Love David Friedberg. His mind is so unique and is easily the best on the All In Pod.
And yet, he has big blind spots, especially about the influence of the super wealthy on the government.
This guy is 6th grade level geopolitics. I gave it a chance. I had to stop at 60 minutes.
Barely 6th grade..
Don't talk to me about cutting benefits till we solve the problems of gross increases to illegal immigrants 2.5 million dollar public toilets and covering 70% of the EU defense budget. Let's tackle the out of hand problems first and foremost
Lol. I'm not saying illegal immigration isn't a problem... But pretending the costs of illegal immigration are even CLOSE to the costs of servicing Social Security and Medicare entitlement spending is completely naive. You are basically saying "we can't address the elephant in the room that causes 99% of the problems until we trap the mouse that causes 1% of the problems".
Hundreds of billions to illegals over the last few years
@@LegalAutomation it makes shortages to food housing jobs reduces are negotiating power. Also it is not that hi true but it is very out of hand so much so that there taking money away from vets to pay for their health care also they leed to inflation. Now don't mistake me I'm very pro legal immigration but we have measures in place for a reason. Also like seriously not kidding the government spends 2.5 Million on a single public potty . The fuck . Talk about corruption much that's a lot of food stamps and health care for one potty O.o just one
A nation that invests as little as we do in Education cannot be a leader in anything. Let’s keep eating shit so that our healthcare expenses bankrupt the country. And of course, let’s keep outspending every other country by a factor of 10 in military. If the United States didn’t control the International Banking System and the Dollar wasn’t the international currency of choice, we wouldn’t be able to pay the interest in enormous debt. We have been a debtor nation for a very long time. There is no quick and painless fix to our fiscal irresponsibility. How many voters and the politicians they elect are ready to swallow that bitter pill…
A nation that invests as little as we do in Education cannot be a leader in anything. Let’s keep eating shit so that our healthcare expenses bankrupt the country. And of course, let’s keep outspending every other country by a factor of 10 in military. If the United States didn’t control the International Banking System and the Dollar wasn’t the international currency of choice, we wouldn’t be able to pay the interest in enormous debt. We have been a debtor nation for a very long time. There is no quick and painless fix to our fiscal irresponsibility. How many voters and the politicians they elect are ready to swallow that bitter pill…
Such a good guest.
Keep bringing me wise men and women like David, to listen to and I will be sooo happy. Thanks!
Voters will never vote for less. DC will never limit or stop its spending. The solution is to pass and ratify a statutory constitutional limitation on spending through the Article V convention mechanism in the Constitution. 19 of the 34 required states have already done this and if you will help educate folks about this option it could be a viable solution. Thanks
In Gold we Trust!
Great explanations, thanks for this
I don't have a problem with GMOs, whether plant or animal. Humans have been manipulating plants and animals through selective breeding for millennia. There's even a term for it. It's called husbandry, the scientific control and management of a branch of farming involving the cultivation and production of plants and animals.
Inflation is vicious regressive taxation on the poor and middle class.
I would argue that benefits given to people in this country are very neglible in comparsion to spending on non-sensical wars.
You’re actually completely wrong. We spend TRILLIONS a year on entitlements. We spend under $1T on defense.
In the future, a space cowboy will lasso a heavy metal asteroid and bring it into Earth's orbit for mining, causing gold and platinum prices to plummet.
To achieve this and cause a crash it needs to be done quickly. To achieve this quickly requires funding. To take on funding requires debt, which when transformed to revenue will balance everything out.
That's my thoughts
Dave is the best of the Besties 🥇
The key to satisfaction is self-discipline, where you say I WILL be satisfied with what I have then learning to live with the disappointment of not getting everything you want.
This guy is right! Right in line with RFKJR! Why isn’t he mentioning RFK!
He cant win. The best possibility is vp
Because he is a vaccine shill.
That "program", social security, is a Contract between me and my government. I kept my part thru 50 years of military service and gainful employment. Uncle Sam must keep his word.
Correct, problem in the US cant be that kind of spending. Look at Sweden much lower debt but better social care for the people.
Good luck on Uncle Sam keeping their word!!
The US is keeping its word for you 50+ year olds... its trying to STOP it for future generations before they get vested into the program though... and for some reason, they won't.
Everything will be fine and you will shine like a rising star, achieving great success and wealth
Improved productivity is great, but not if it’s priced to gouge people. If corporations expect 20 % and 30% margins on a yearly income cycle, all the productivity in the world is not going to solve the problem. The problem is greed. Corporate greed, wanting to make 20 to 30% or more per year as an average gain is criminal when wages are stagnant or effectively at a net negative growth in relation to inflation.
The only candidate I've seen present a proposal on how to get the debt problem under control is RFK Jr.
RFJ Jr. is a cook. Plenty of other politicians that have "presented" "Proposals" on how to "get the debt problem under control"... the problem is: once they get into office, they never actually do anything they "proposed". The entire modern US political historical record has been rife with such "candidates". They all fail, just like RFK Jr. would if he was elected.
and Dave doesn't support him because Dave is a vaccine shill
RFK Jr. is talking about all of these issues!!!!
He supports genocide in Palestine in full. Also, he is supported by billionaires for his campaign, so he is already compromised.
i don't know the laws of US political systems but isnt he hout of this election cycle? democrats chose biden republicans trump no?
RFK Jr. is sick and he's only tempting you. He's only gaining momentum because he's the 3rd person, an alternative, but he is the last person you should be behind. Think smart and realistically: Biden, for now.
Sadly, that is why he won't win.
@@witchywomen6650 He is capturing an audience.
The success of Amazon is a little more complicated than that, especially if you know anything about their policies in regards to affiliated seller sites, exclusivity deals with manufactures, noncompete, clauses, etc., etc..
David is such a likable person. Value added to this world.
Why do I never hear from economists about the huge waste of tax payer money that goes to supporting other countries like Israel and Ukraine? The amounts are enormous, spent on warmongering, supporting regimes, and its led by the lobbists in Washington who in turn, are getting ungodly wealthy on the back on average Joe.
Because most of that money doesn't go to those countries, it goes straight to US companies with military contracts who make the weapons that we then send to those countries. The corrupt politicians are getting their share of those profits so they will always vote to "send money" to those countries.
Because it's such a small %.. waste? Absolutely.. and I hate it as well, our foreign aid to dozens of countries is bullshit and we pay most of NATO, the WHO and so on.. but we've gave ukraine 200 billion in 3 years, of 34T debt that 200B is only 0.7% of our debt. So it's nothing.. BUT 200B shouldn't be going to help americans
21:49 yeah until these greedy corporations decided to produce more and still increase prices. Greed has to be stopped.
So stop buying what the corporations are selling! End of corporation, end of problem.
You believe that corporations were less greedy in 2019. Then in 2021 corporations became extra greedy. Then in 2023 through 2024 corporations became less greedy again on a month-over-month basis?
Any scientific backing for these wild claims? How are you measuring "greed" and how many additional units of greed do corporations have compared to pre-pandemic levels of greed?
Bible says that in the end times the desire for money/wealth (greed) will be infinite.
@@LegalAutomation It has nothing to do with greed, businesses need to make a profit otherwise what's the point, when the fed creates a lot of money that action devalues the dollar so businesses have no choice but to raise their prices to make a profit
Having multiple streams of income is a game-changer for stability. Relying solely on a job may not provide enough financial security due to high rates of tax, it is important to explore additional investment opportunities to surpass one"s expectation
Federal reserve is not federal, it's private bankers. The US government borrows from the federal reserve and pay interests to those bankers.
Yup. The most recent one is the myth that the Fed is independent of the Treasury. Which is another myth that is quickly dying
Declare your Independence folks!
what does this mean?
I did. I own Bitcoin.
@@videoluvr4204RFKjr 2024🇺🇸🇺🇸🇺🇸
How??
@@videoluvr4204RFK Jr has been spouting a lot of what these people talked about and he happens to be a presidential candidate this year. The phrase they said is his campaign slogan because he’s running 3rd party (might change tho since he said something about the DNC).
Great video.
I was a process control engineer (just retired 2/21/24) I would always stress test my projects just to make sure it would work under all conditions.
Also depending on the government.
But I found away of earning more income despite my Retirement. $47k weekly returns has been life changing, after so much struggles.
wow this awesome 👏 I'm 37 and have been looking for ways to be successful, please how do I make such weekly??
@@babytruca02Maria Angelina Alexander I really appreciate her efforts and transparency.
My outlook on money changed when I realized someone making $200K can retire broke & someone making $80K can retire a millionaire. With the current market movement.
You're correct!! I make a lot of money without relying on the government.
Investing in stocks and digital currencies is beneficial at this moment.
I heard a CNBC news host spoke highly big about this name and her strategies, how she has been helpful to many people. Been trying to reach her since.
The problem with Monsanto is not about altering seeds, it's the ownership of the seed source which is the problem. They have the potential of owning the food sources
Absolutely fantastic!!! I could be listening him for hours and hours.
The question is does the money printing make the war inevitable, or is the desire for the war why they print the money? I think it’s the latter.
seems so cyclical.
wars themself cause mass deficits due to gov spending, debt etc.. however wars also stimulate economies and post war reconstruction efforts stimulate exports... and the cycle goes on.. and on.. and on...
draw a timeline of US wars and budget status it's interesting.
something like this:
1939 1944 1949 1954 1959 1964 1969 1974 1979 1984
|---------|---------|---------|---------|---------|---------|---------|---------|---------|---------|------------|------------|
|--WWII--| |-----Korea-----| |---Vietnam---| |---Gulf War---|
|---Deficit---| |---Surplus---| |-----Deficit-----|---Surplus---| |---Deficit---| |---Surplus---|
It's more likely that they print at least some of the money as a consequence ultimately of demographics (as Raoul Pal and others have argued for a while now) - to compensate for lower workforce participation, which has been trending lower for 50 years. And the money printing now is part of the debt refi cycle that Michael Howell has been talking about for ages. Of course not denying some of the money printing is also in aid of the military-industrial complex and their kleptocracy
@@mwilliamson4198 money printing is inflationary, not deflationary. It does not compensate for low economic participation, it makes those issues worse.
Hit 240k today. I'm really grateful for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in December 2022
I would really love to know how much work you did put in to get to this stage.
Which signal do you guys trade?
Thanks to Mr Harrick Jason.
I'm surprised that this name is being mentioned here, I stumbled upon one of his clients testimony on CNBC news last week.
Alright thanks, but how do I reach him?
David Friedberg is my favorite from the All in Podcast
Never leave the besties! You're the most real, passionate member of the All In Podcast!
The Saudis didn't renew our PETROL DOLLAR Contract that we've had for 75 Years
😕
This is fake news and it never existed in the first place
ofcourse because of Brics
What contract? All of Social Media repeats this but Nobody seems to be able to produce a copy. It seems they ALWAYS accepted other currencies.
You mean the handshake agreement, they broke immediately?
The Saudi’s are not our allies.
Anyone with a brain can understand this...the government should never be allowed to have fiat debt
Ponzi scheme
Best and easy to understand explanation about how inflation works. Well Done!
This was a fantastic interview! Really enjoyed listening to David and finally having enough time to explain his train of though! Great stuff!
Your real money is your time, but only money for me. My life is finite and ends. Labor ends. We are lucky to live in such a glorious time.
Indeed. Whatever struggles we face right now is still much better than being alive a few hundred years ago and having to catch our own food and not having gigabit internet.
Great Job Weldon @ TOM thanks always for updates and keep the fire Burning up thanks!!
Friedberg is the best part of the besties. He’s No bullshit.
peak oil all over again...
Love this guy. Have seen him on the All In Podcast. He has a great mind and important voice.
iMPORTANT VOICE WITH A LISP?
This all sounds great but then there's Knoll's Law.
His discussion of cancer therapies that are coming up is, um, rosy. I can absolutely guarantee you that they will have more side effects than he's suggesting. One of the things he discusses, "reprogramming T cells" comes in a flavor called "CAR-T" (Chimeric Antigen Receptor Therapy) does work quite well but it has a often ignored side effect of causing T-cell lymphoma later on in a surprisingly high number of cases. Why? Truth is, we don't really know. The fact that we don't really know the "why" here should be concerning because, ultimately, it means we're playing life and death games with things we don't really understand.
Now, in some cases no one cares because the current cancer would kill you anyway so the risk is worth it. But smoldering myeloma is a perfect example of something where the statistical risk of the treatment is worse than the prognosis of the disease. (Unless it goes beyond smoldering.)
Which isn't to say that we shouldn't be doing this, but we should tread very carefully and we should not oversell anything.
One of the things to be careful with in biology is that there is no free lunch. When you "improve" something drastically you're generally borrowing from somewhere else. If you deplete the resources "over there" we're going to call that a "side effect". Many of them are going to be really rather nasty. There are some really cool things that don't seem to really cause problems because they don't really "borrow" from anywhere. BH3 mimetics come to mind, for example.
Yes, cancer therapy has come a long way. The people talking about how awful things are, mostly, are talking about decades old things and ignoring the newer stuff. But the newer stuff is often oversold as a "miracle" and really, honestly, doesn't do much. There are several types of these drugs (I'm thinking of certain kinase inhibitors here) that, statistically, simply prolong life a few months at enormous cost and if we're honest, they do produce quite a bit more suffering by allowing the person to survive longer than they really should but without actually really doing much FOR the patient.
Which doesn't mean that they don't work in some cases but they're oversold to patients.
He's pretty casual about stating that, in the course of all these "revolutionary" treatments that some people will die. I'm sure Mengele felt the same way. But.. let's not hinder "progress.."
Corporations are causing much of the problem with greed inflation. Corporations own the government
1 trillion dollars just in interest!! No wonder they need to tax your ass sets so much! 😅
Our taxes are going to Ukraine to fund American industries, however, that money goes into the pocket of oligarchs. Very little goes into production and jobs for the little people and some fat cat is on track to be the next billionaire. That is the problem. US taxpayers fund the RISK while fat cats REAP the PROFITS. That model is WRONG.
Techno optimism is what raised us up from the swamp and down from the trees. Friedberg makes a great case on this. I am less convinced on the ever continuing prediction of demise if we don't adopt fiscal austerity.
Thank you for attending
RFK is the way! F the duopoly. At the very least help the man on the ballot. We need to blaze a path and precedent for third party candidates. Then come November it’s your business. But right now this is America’s need. Chances are you won’t love next red and blue candidate. We need to expand the field.
RFK Jr. is a joke, lol
@@user-xp5id1kh4r from a auto-generated username. ohhhkay lol
I THINK WE SHOULD DEMAND OF OUR GOVERNMENT WHEN THEY DO DECIDE TO PRINT MONEY TO GIVE IT DIRECTLY TO EACH AMERICAN CITIZEN BASED ON THEIR SOCIAL SECURITY NUMBER IN AN EQUAL AMOUNT😮. IF THEY MUST SPEND THEIR MONEY THEN SPEND IT DIRECTLY ON THE PEOPLE😊
I apologize if you're just being sarcastic, but I worry you might actually be sincere. Which would make this a pretty idiotic thing to say.
Really? I think they all need to go. Reb and blue. State and FED. Start with young Americans who have real ideas and common sense.
These politicians on both sides are corrupt tyrants.
False flag coming soon.
Brace yourself.
For productivity to increase we have to actually produce stuff here in the US. Tangible stuff, not just GPT chat bots.
Oh snap didn’t expect the sultan of science on here
Why the host didn’t ask any important follow up questions….
He just let This guy ramble on.
hOW MANY TIMES DID THE GUEST CORRECT HIMSELF?
Just 2 clueless rich guys, having a conversation about what the poors need to do with their lives.
...into a BRICS wall.
Which is failing lol. The Saudi’s didn’t even actually get off the dollar.
LOL Facts
Peso is a more likely our new replacement, you know, cause that solid southern border.
@garythecyclingnerd6219
@StateDept
@@garythecyclingnerd6219 how many more countries are on board since a couple years ago
I don't understand why this man is holding the population responsible for the fiscal policy of economists and politicians...over which they had no choice or input [if either party in a two party game makes the same call then there is no alternative]
Good show 👍 Informative!!Insightful!!
If he is referring to social welfare programs aren’t they just a fraction of our budget? Don’t we spend more on corporate welfare?
Right. NEVER mentions the "defense" (war) budget, which is when you include all the extras (the VA and etc.) runs well over a trillion per year.
lol owns to the bond holders. Loans are a nothing but a imaginary number. We owe the money to almost noone. Private bank Fed buys the US debt.
Comparing one fiat currency against another, and saying one has gone up in value against the other, is like being on a sinking ship in the ocean and looking across at another ship that is sinking faster, and thinking you are being lifted up. In this scenario something with intrinsic value, like gold, can be compared to dry land, which is not sinking.
We need both you AND Jason on the ALL IN podcast! Please continue!!! Love your honest opinions!
To be honest, i am sick of this stories like America gonna crush.. i hear this bullshit stories 30 years..thats why im going to unsubscribe
Agreed! They were talking doom and gloom during the recession in 91 which cost GHW Bush the president to Clinton. Then the next 8 years were the biggest economic boom in human history, not that Clinton had much to do with it
I think the problem is most people see "crash" as a sudden thing. Whereas, we are seeing it happen slowly so it doesn't feel like a crash. You just wake up one day and realize it has been happening over a long time.
If you want to build and protect your wealth, start investing in digital assets like Solana, Ethereum, Bitcoin, and other digital assets. The adoption of crypto technology is growing faster than the internet. Its better to get in now, while it's relatively early in adoption
To say that poker players are gamblers is like saying that people who go to the gym use steroids. Its fine to learn and show that you dont know everything... But cmon man, that was ignorant and disrespectful...
Amazing dude! Thanks for such an amazing guest!
Kennedy 2024