David Rosenberg - How To Prepare For Economic Collapse
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- čas přidán 8. 06. 2024
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Thanks for joining us today! David paints a very negative picture of both the U.S. and Canada. Do you agree?
No worries! If you're the US Government, you simply change the definition of the various economic indicators. _Problem solved!!_
I agree 100%
Joe has a backup plan, we all should enjoy the time we have left.... THREADS
@@ChiIeboy It's Jimmy Connor, thanks for joining us today and for the comment! Be sure to Subscribe to our channel! (so true)
@@billcarney829 It's Jimmy Connor, thanks for joining us today Bill and for the comment! Be sure to Subscribe to our channel!
David nailed it when he said the US economy is a 'mirage'
It's Jimmy Connor, thanks for joining us today and for the comment!
❤
Unemployment numbers only included those actively looking for jobs. If they arent, which a lot stopped, they arent counted.
An economy that produces less and consumes more, save less and spends more and taxes less but outspends…it’s more than a mirage it’s a phony economy
Another great vid! I Appreciate the fantastic content you put out! Keep it up 🤙❤️💃🏽😎
I love Mr Rosenberg. I will be 74 in July. I have listened to many economic experts and he is among the most trusted and brilliant. Thank you so much for the wonderful interview !!!
It's Jimmy Connor, thanks for the positive comment and for taking the time to view our content!
Really? What has he said that you found insightful? From what I have seen David says the same things everytime the only thing is he might change the narrative with cherry picked data. The economy sucks, buy bonds, DDD (debt, demographics, deficits) will destroy us, stocks are overvalued, a recession is imminent. Stock market at all time highs, unemployment near/at all time lows, bonds crushed, immigration at highest rates, etc etc. When has he ever been correct?
My opinion is that the problem is the corruption in the government, in all levels, you name it. The bad thing is we try to look the opposite side , and Ignore the real problem
Only sensible person here.
It's Jimmy Connor, thanks for joining us today Jaime and for the comment! Be sure to Subscribe to our channel!
You think government corruption is a new problem?
Who own the Fed?
(it has nothing to do with Gov’t)
IMO
@@snowyowl6892 the Fed isn't independent from the Gov't...the Jamie Dimon's, the Larry Fink's, those who are in Lockheed Martin, Raytheon, Boeing Navistar, Honeywell, Northrop Grumman and every single politician ..they control it all.. It's one big group and the people continue to get it wrong.. always looking for a wild conspiracy theory.
The US is the World Order and has been since the 1945 ally Bretton Woods agreement. The Gov't has confiscated gold from the people back with Roosevelt, forcing payroll taxes, telling us to invest in their bonds ..it's all been planned by Gov't to control the sheep
This is must watch for all Canadians. No one realizes how weak our economy is and have been for many years. Trudeau and that other guy a joke.
It's Jimmy Connor, thanks for joining us today Patrick and for the comment!
Other guy being PP? They are all the Uniparty.
A bad joke.
globalizing the currency has consequences
Canada was showing the signs 20 years ago... That's why I packed my business and left....Ppl were saying I went crazy....Today they ask me how did I know it?
Mr. Rosenberg is one hell of a seasoned and smart man.
It's Jimmy Connor, thanks for joining us today Larry and for the comment! Be sure to Subscribe to our channel!
Yes, he is just not good at predicting the future.
David Rosenberg's REALISTIC insights are always most interesting.
It's Jimmy Connor, thanks for joining us today and for the comment! Be sure to Subscribe to our channel!
It's Jimmy Connor, thanks for joining us today and for the comment! Be sure to Subscribe to our channel!
Affordable Care Act (ACA) became law 14 yrs ago. Can you think of anything about healthcare in the US that has become more “affordable”?
The ridiculous “Inflation Reductionn Act” is not going to reduce inflation either. It’s window dressing for gullible voters.
There were no mistakes. Just a plan .
Q
I agree
So if you KNOW their plan
Make YOUR OWN PLAN to strategize and PROSPER.
God speed!
Q❤
Nobody believes it anyway..I was always saying that the USA was sold in 1913...and wealth grab never stopped...today there is nothing left to steal...so the "big business" will left USA to die...
@@hrhtreeoflife4815 Amen!
The fiat dollar is the new wooden nickel from the company store. The PEOPLE have become slaves to the system like working in coal mines. Keep the PEOPLE in debt and they can never get free from the system. Why sell your commodities from Goldistan for wooden nickels?
Pierre Trudeau introduced the capital gains tax. Before 1972, Canada had zero capital gains tax. Any politician who reduced capital gains tax to zero will attract all the world’s best businesses to set up shop in Canada and produce more growth and jobs and put the country on track to surpass UAE, Dubai and all other oil rich countries.
It's Jimmy Connor, thanks for joining us today and for the comment! Agreed 100%!
Nobody wants to live under a soft communist dictator
I respect Kim Jung un more than Trudeau. Does more with what he has…
Are you delusional? Eliminating capital gains taxes may attract corporate oligarchs and aristocracy, but the only thing that trickles down will be their piss. They're not going to create jobs, they're going to use AI, automation, and offshore the work to Indians who will gladly work for a dollar an hour.
Mr. Rosenberg is correct. The stock market is a short term casino like reaction it does not reflect the health of the economy
It's Jimmy Connor, thanks for your comment! The stock market, cryptos, sports betting all the same thing.
This guest is brilliant and clear speaking.
It's Jimmy Connor, thanks for the comment Richard and for taking the time to view our content. Don't forget to Subscribe to our channel and thanks for the support!
No ones talking about the Petro Dollar contract that expired today June 9th 2024 with Saudi Arabia and the United States. Why is no one speaking on this. This could impact America in a Major way
Only on YT channels
@@foilrider2000lol
Just like tiktok, if you report anything not by top rich, they will silence the public. Just like Israel
Long run, it will slowly erode dollar strength
andy schetnet talks about it on kitco
We (USSA) is not entering recession with high employment.
USSA is entering Depression with VERY HIGH real UNEMPLOYMENT.
We have no growth other then gov spending and gov ‘job’ ‘growth’
It’s not a mirage, it’s a deliberate malicious illusion 😮
Planned collapse by our fascist leaders
Yes, it’s a deliberate malicious deception.
Yes, they're "human beings & not machines" except given the fact they don't live in our real world economy & fail to understand the average household. Inflation was never transitory, the average person knew that inflation was knocking at the door!
David, please remind people that Recessions aren't a Bad thing! They help remove some of the Mal-investments that taken place over the last 10 to 15 years.
It's Jimmy Connor, thanks for the comment and for taking the time to view our content. Don't for get to Subscribe to our channel and thanks for the support!
Thank you, David, for sharing your detective-style economic analysis, and lucid communication skills.
It's Jimmy Connor, thanks for the positive comment Julio! Don't forget to Subscribe to our channel and thanks for your support!
The only reason job rates are low is because people are working 2 and 3 jobs trying to survive and put food on the table..
It's Jimmy Connor, thanks for the comment and for taking the time to view our content. Your comment resonates with me, given I am working 2 jobs. Don't for get to Subscribe to our channel and thanks for the support!
Fake#$❤lying collectivist marxist source❤
Human behavior never changes, most people are in denial but number don't lie
It's Jimmy Connor, thanks for the comment Franklin and for taking the time to view our content. Don't forget to Subscribe to our channel and thanks for the support!
Numbers are manipulated though, so check your sources.
Please… the issue is ALWAYS a SPIRITUAL PROBLEM! Get it?!
It is sad to note US economy is in decline and keep printing money is never a wised move; high productivity and multi trading are.
But d trade war benefits nobody except hurting all.
High military spendings and wars benefit only those involved in weapons manufactures but it’s not a wide spectrum activity and seriously hurting fragile financial resources.
It's Jimmy Connor, thanks for the comment Richard and for taking the time to view our content. Don't forget to Subscribe to our channel and thanks for the support!
Why can't people see what's happening? When I was younger I knew nothing about "markets," about how things are valuable then tarnish over time, or over down cycles. We are fed daily readings of the stock market, but they don't really tell us much about where we are heading . . . until its too late.
The U.S. savings rate is low - mainly because of private healthcare costs… insurance costs are outrageous 😮
It's Jimmy Connor, thanks for the comment and for taking the time to view our content. It's the same in Canada. Insurance on everything is stratospheric.
The U.S. unemployment rate is a lie.
It's Jimmy Connor, thanks for joining us today and for the comment! Be sure to Subscribe to our channel!
Inflation causes people talking more than one job.
@@Evertraveller Oh yeh!
@@BloorStreetCapital are the 17million illegal invaders considered in the unemployment numbers?
The unemployment rate is no longer a useful statistic because so many people are not even looking for work, the most useful number is the number of people working. The other problem is government and healthcare jobs really don't add value they are a drain on the economy.
Minus out the government spending this economy is in a downturn.
It's Jimmy Connor, thanks for joining us today Michael and for the comment!
No one ever does this...ppl are exceptionally dumbed down.
Yes, I believe that's what the interview subject in the video said. Several times.
@eyesuckle lol i just watched the first few minutes. So that's good
So true !
Be it the USA or Canada or any European country, government spending = DEBT.
Debt is NOT economic growth or prosperity or productivity.
Government spending (id est debt) is an antithesis to economic growth.
It’s good to hear the truth
It's Jimmy Connor, thanks for the comment and for taking the time to view our content. Don't forget to Subscribe to our channel and thanks for the support!
Many thanks to @DavidRosenberg for his excellent and sane analysis of what is happening in the US and Canadian economies. I was very surprised to know that the population growth in Canada is 0% (zero) without immigration, and if there was no immigration, the Canadian economy would keep contract at around 2% per annum! And, he makes such an astute observation that immigrants require a roof over their head the moment they land, whereas a baby born in Canada, organic growth, would require a diaper and pacifier but not condo, house or apartment. And, by the time they are 18 and move out of their parent's house, the natural death rate would take care of his housing need because someone will have either moved to a smaller / assisted living space or moved on from Earth. It would not create the housing shortage we have which is driving the prices to such highs and affordability going out of the window. Wonderful discussion. I hope @DavidRosenberg is brought in every 6 months, if not quarterly to give us the lowdown on the US and Canadian economies, and a sane look at the World rather than all the economic propaganda we see in American and Canadian MSM. Thanks!
furthermore, those illegal invaders aren't working so the government is spending on them, till at least the election
So many economists are in agreement with Mr. Rosenberg, That I have to conclude that so many may no possible be wrong. I do have to ask, will we be doing better if we had not financed all these unnecessary wars that we fought in the last sixty years?
Is the sky blue?
Ok crazy man, it's 2024
Another question about war to consider is, how many wars have we not had, that we avoided, because we paid the price of war we know and did have?
Those ears have saved the dollar. Imo.
Time to re-read George Orwell, and look closely at the pigs that are more equal than others!
I'm seeing deflation at the grocery store and online shopping. I got boneless chicken breast for $2.98 a pound. I got a huge tub of mixed green for 1.99. I got Italian bread for 40 cents and 69 cents for sliced. I got a rotisserie chicken for $3 and canola oil for $2.50. I've pretty much stopped dining out. Im making meal at home for about $1 per meal.
I stay near home. I shop local. I spend very little on gas. I'm using the ceiling fan instead of AC.
My friends who can't pay their taxes, credit cards, child support, or mortgage are taking vacations and going over an hours away to drink with buddies. Feels like 2006.
It's Jimmy Connor, thanks for joining us today Annie and for the comment! Those prices seem cheap. Where do you shop?
@@BloorStreetCapital Ingles and Walmart.
@@anniealexander9616 wow we shop at Walmart and Costco but I dont see those prices.
@@BloorStreetCapital Check for discount shelves and reduced price stickers.
I ve seen the opposite: $9.99 for a watermelon, 8.99 for a case of water, 9.99 for a 12pk of cokes(12 oz. cans) and 4.99 a lb for boneless chicken breast , 4 pcs of corn at 5.99, romaine lettuceat 3.49, this is at Alberstons/ Safeway.
If the politicians quit spending like drunk sailors at a women of the nights house 😢
It's Jimmy Connor, thanks for joining us today and for the (funny) comment! Be sure to Subscribe to our channel!
The best point he alludes to is around 30 minute mark. My salary looks good to the average person, and yet when I look at prices for Jays games, concerts or even theatre shows in Stratford and I wonder who in the world is paying these prices? So it’s only the high end earners. And that spells trouble in the months ahead.
Great to see this being done 'in person'! 👍
It's Jimmy Connor, thanks for the positive comment and for taking the time to view our content! Would you like to see more in person content?
David is one of the smartest people in the financial industry.
It's Jimmy Connor, thanks for the comment Arnold! I always enjoy speaking with David.
U.S. economy has been a mirage since 9/11, and maybe going back as far
to when Nixon took us off the gold Standard. I graduated HS 50 years ago
this week. The 1970's were rough, the 80's thru mid 90's were a great ride. Since 1998
things have been bumpy for main street. The govt has messed with the way we figure the
economic #'s to the point they are meaningless.
2000
Nixon allowed the dollar to float.
1929 to 1933 was transitioning off the gold standard.
You will own nothing, and struggle for food, water, and shelter. Most have no idea what is coming and even more are not prepared!!
As someone who is invested in the markets, I agree with you. I see policies that facilitate asset price inflation and transfer of wealth from the many to the few.
That's why I invest in the market - you have to have the kind of assets the rich have if you want your kids to ha e a fighting chance. That means a portfolio that includes stock and real estate as well as tax deferred and tax exemlt accounts. I sacrifice now so my decendants won't be wage slaves if they exercise just a little bit of prudence.
@@gobot4455 the markets are trash and will be much worse soon.. your $$$ will be worthless to everyone else.
@@WFPBFORLIFE that's great. In the meantime though, I won't struggle. Hope your comment made you feel marginally better.
@@gobot4455 no your moma was great though
@@WFPBFORLIFE i assume you don't know yours. How's it feel to be dropped off at the firestation?
Respectfully, Mr. Rosenberg, when did you last visit a local Supermarket and do the family food purchases ?
Weak productivity in Canadians' populations, ending of the 50-years PetroDollar Agreement on June 9 2024 between Saudi Arabia and the US, stagflation future, and low birth rates ..... these are not surprisingly reality checks, they were in the making for decades...
It's Jimmy Connor, thanks for joining us today and for the comment! Yes it don't happen over night but the question what are we going to do about it? I don't think anyone wants to implement an austerity program to fix it. That would be political suicide.
I've been doing my best to repopulate the planet, but I've just seemed to have hit a dry spell!
25 trillion economy and 34 trillion in debt. So economy is really -10 trillion in the hole.
👍🏼😉🎯
This is good info. They 'revise' everything down! The stock market is not the economy. Everything is looking worse.
It's Jimmy Connor, thanks for joining us today and for the comment!
GDP , the borrowing from fed to treasury. Included. Billions.
Wow. I stumbled across this and Mr R. is absolutely right about the US.
Great, great interview! Really enjoyed what he said about changes in consumer behavior. Never heard of 'plating' but I think I will have to start doing that with my wife.
It's Jimmy Connor, thanks for joining us today Frank and for the comment!
My wife hasn't allowed me to "plate" her for years. More's the pity. Yes, outstanding interview.
@@user-zm8ob5cs4l If your wife is gaining weight, you have my sympathy. If she's losing weight, well, then I kind of see her point.
In 1983 my home purchase was low but the interest was high at 14%!
That's probably better than what's going on today. These home prices are silly. I can't believe folks are paying it!
Great interview Jimmy, I love to hear from David on his text about the economy. One thing I will disagree with David is that taxes are inflation. When hospitalization, medication and schools, etc have to spend more money on supplies, labor, etc. they come back to you with higher taxes “ because” of inflation. As a matter of fact, government of any size is inflationary that is why our forefathers envisioned a very small and efficient government. They envisioned a government to stay out of our lives and our pocketbook as much as possible.
It's Jimmy Connor, thanks for joining us today and for the comment! Great point!
Property taxes are used to keep counties functioning. Not inflation? OK, call it lack of efficiency.
Counties are price gouging. I fought my property taxes for 6 months and won.
@@anniealexander9616 good for you Annie, even local governments are monopolies, but at least they can be controlled by local citizens voicing their opposition to overtaxation.
He's telling the truth, it needs said
Good conversation. Thanks for sharing!
It's Jimmy Connor, thanks for joining us today and for the comments in the chat!
We have to stay with high interest rates. Inflation is the only way to eventually work out if this. Most people don’t realize this.
It's Jimmy Connor, thanks for the comment! I think you are right!
Thanks for the interview james
David is a wealth of knowledge
It's Jimmy Connor, thanks for joining us today and for the comment! Appreciate the support!
Wondering if the USA will be impacted by the ending of the 50-years PetroDollar Agreement expired June 9 2024 when Saudi Arabia decided not to renew? The 50-years mighty powerful USD currency on global citizens is gradually losing its status as the King of Reserve Currency ?
Thank you gentlemen. Very informative. God bless.
It's Jimmy Connor, thanks for joining us today Lawrence and for the positive comment!
This economy has changed so much. 40k used to be middle class and now it feels like 70-100k is the new 40k.
It's Jimmy Connor, thanks for the comment Steve and for taking the time to view our content! SO true! $100k hardly covers the expenses and if you have a family or 3 or 4, oh boy.
No mention about the effect on the US economy that war financing for israel and ukraine is having, not to mention the formation of BRICS and the future effect of de-dollarization on the american and Canadian economies.
It's Jimmy Connor, thanks for joining us today Alex and for the comment! You raided some good points that I will bring up during our next discussion. Re BRICS insignificant, it will not happen in our life times.
Thanks for spelling out the reality to the people
It's Jimmy Connor, thanks for the comment and for taking the time to view our content!
Finally, someone tells the truth about our economy. As a retiree, I can tell you I’m terrified that my pension is not going to be enough to survive on. The inflation is eating up my pension check. This has all happened in that last 2 years. This is Bidenomics. Many people I know are in the same situation.
It's Jimmy Connor, thanks for the comment and for taking the time to view our content! Staying hopeful for the future.
What will it take to slow down CONSUMPTION, is the question. Consumer spending is unhinged. There is no end.
It's Jimmy Connor, thanks for joining us today and for the comment! I am shocked by the spending that is still going on. People flying all over the world to see Taylor Swift.
Higher interest rates.
A credit freeze like we saw in 2007.
@@anniealexander9616 Credit is so profitable, I doubt that would happen again. I think the banks will see some impact from defaults, though. It is expensive for a bank to get a judgment against a debtor.
@@JayTX. That society has made me rich, so I cannot complain. Most of my stock market gains are driven by this fact.
So…. How do we prepare?
The USA has been in a recession we’re heading into a depression.
More Americans have lost jobs since 2008
As of today the USD is no longer backed by Saudi oil. So, the dollar is and will crash.
The stock market is artificially elevated it’s essentially smoke and mirrors.
God help us all.
It's Jimmy Connor, thanks for the comment and for taking the time to view our content. Don't forget to Subscribe to our channel and thanks for the support! (I hope you are wrong about the depression)
I was confused until at the end he said he was bullish on commodities. Commodity equities is where the biggest gains will be in the next couple of years imo
Recessions are an unavoidable part of the economic cycle; all you can do is prepare for them and plan accordingly. I graduated into a slump (2009). My first job after graduating from college was as an aerial acrobat on cruise ships. Today, I work as a VP for a global corporation, own three rental properties, invest in stocks and businesses, run my own company, and have increased my net worth by $500k in the last four years.
It's a delicate season now, so you can do little or nothing on your own.
Hence I will suggest you get yourself a professional that can provide you with entry and exit points on the securities you focus on.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
incredible, a fantastic start to financial independence! How can I contact your FA.
Well, there are a few out there who know what they are doing. I tried a few in the past years, but I’ve been with *Whitney Kay Stacy* for the last five years or so, and her returns have been pretty much amazing.
Appreciate this recommendation, hopefully I can get some insight to where the market is headed and strategies to beat the downtrend with when I hear back from Whitney.
Thank you David! This is a master class!
It's Jimmy Connor, thanks for joining us today Michal and for the comment! Be sure to Subscribe to our channel!
Excellent information from Mr Rosenberg...every time he utters the word ''Canada'' it could be replaced by ''Australia'' and would remain just as accurate. We are in the same leaky boat, just trying to remain afloat.
It's Jimmy Connor, thanks for the comment Chris and for taking the time to view our content. Are things that bad in Australia? Don't for get to Subscribe to our channel and thanks for the support!
People choose to buy gold for various reasons, such as it’s historical role as a store of value and medium of exchange, it’s potential as a hedge against inflation or currency devaluation, and it’s relative scarcity compared to other commodities. Gold also offers diversification benefits to investment portfolio due to its low correlation with stocks and bonds. However, investing in gold carries risks and may not be suitable for everyone. Investors should carefully evaluate their objectives, risk tolerance and financial situation before deciding.
Investing in gold is a reliable choice, and I plan to keep buying more to make up for my losses. While silver, stocks and digital currencies are also good investment, my collectibles are not as similar. It's important to have clear investment goals and educate yourself on the type of investment that interests you..
Yes, gold is a great investment and a good bet against the devaluating dollar, been holding some for awhile now, I’m grateful my adviser’s moment by moment changes in the market are lightening quick, cos who know how much losses I would’ve had by now.
I envy you, I’m still trying to recover from losses I incurred in 2021/2022, who is this investment adviser you work with, I’m intrigued and I could use some quality guidance
Vivian Jean Wilhelm a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Thank you so much for your helpful tip! I was able to verify the person and book a call session with her. She seems very proficient and I'm really grateful for your guidance
David is correct like in the movie "The Big Short". "I'm not wrong just too soon." Especially important If you are a buy and hold investor. Still waiting......
It's Jimmy Connor, thanks for joining us today and for the comment! Yeh it's the waiting that can kill you. Time will tell.
David also said a few years ago in an interview and I quote “you can be right, but if your early your wrong”.
Only thing I’m buying is gold and platinum.
I only half trust silver.
40:05 you talk about AFFORDABILITY of housing. You talked about the three factors, home price, income, interest rates. ... Maybe it's about the size of the home, the needs of families. ... Maybe our expectations have exceeded our budgets. Maybe "our reach has exceeded our grasp."
I don't know about CANADA, but in the UNITED STATES, where everything is bigger, I see very few 3/1 homes on a quarter acre being built. ... EVERYTHING SEEMS TO BE FOUR BEDROOM, THREE BATHS.. It's like the idea of PLATING that you mentioned earlier in restaurants. Maybe we need to PLATE our homes in such a way that we deal with a three bedroom one bath home for a wife and two kids.
Maybe a three-bedroom two-bath duplex townhome is sufficient for a family of 4. Maybe we need to go back to levittown, Long island. Three bedroom, one bath, fenced yard, throw in a mutt instead of a $2,000 goldendoodle. ... Maybe we need sound money.
This man is 100% correct, and you will see it in October after the BRICS summit.
It's Jimmy Connor, thanks for the comment and for taking the time to view our content! Always enjoy speaking with David!
Great interview. You are way to generous with excusing the feds poor performance. They have been a wrecking ball since their inception.
Stagflation, slow growth, extremely high inflation. If they lower get ready for super high prices in food, and other necessities. A guy like him doesnt care about inflation, he wants lower rates because he'll just get richer, owning assets that do well with inflation. Meanwhile the middle class will just become poorer as the Government goes into even more debt, and the debases the currency.
It's Jimmy Connor, thanks for joining us today and for the comment!
That's rather cynical. I doubt that Rosenberg needs more wealth. However, there are plenty of new retail traders who want lower interest rates. They have not been burned yet.
If Canada ever wants a stronger economy in the long run rates need to go up.We are in for a decade of pain.
There is an equal market chance associated with each crash or collapse. I have seen people accumulate up to $1 million during a crisis, and even make it work in a strong economy if they are prepared and well-informed. Without a doubt, the bubble/collapse is making someone wealthy.
I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or markt condition, but such execution are usuallv carried out by investment experts or advisors with experience since the 08' crash
I took charge of my portfolio but faced losses in 2022. Realizing the need for a change, I sought advice from a fiduciary advisor. Through restructuring and diversification with dividend stocks, ETFs, Mutual funds, and REITs, my $1.2M portfolio surged, yielding an annualized gain of 28%.
I've been looking at financial advisory as of late, but kind of relaxed about it, would you mind recommending the advsor that assists you please? I'll be happy to use some help
Thank you for the lead. I just searched her by her full name and easily spotted her profile, no sweat. I have sent her an email, hoping she gets back to me soon
Finally a refreshing truth the stock market is no indicator of the economy
Mr. Rosenberg is right on the money!
We should have a law to regulate the economic information and numbers to be manipulated by constant revising, employment calculations, and inflation numbers. How do they come up with the three percent unemployment number by ignoring those who have given up looking for jobs because they can't find one?
In theory, higher interest rates drive up rent prices and lower interest rates lower rentals. Again, in theory higher interest rates reduce the demand for real estate and sellers may have to accept lower prices.
It's Jimmy Connor, thanks for joining us today Roland and for the comment!
With regard to inflation, Rosenberg also makes a distinction between sticky inflation that never goes down and flexible inflation that goes up and down with the economy. The distinction might be fine in order to judge whether an economy is growing or not but it is not sufficient to judge the real strain on people in their daily lives. For example he wants to disinclude owners equivalent rent even though this is a major factor in accounting for 1/3 to 1/4 of people's entire budgets. Same for health insurance and car insurance which he does not want to include as a measure of inflation.
This conversation has nailed literally everything I've been reading. I am in cash, and wondering when to get back in as I see S&P 500 still rising. This makes me a bit more comforatable that I might be making the right decision, while seeing a loss in short term gains.
Go for India type strategy! Development, united stand by both political parties on economic strategy. Infra structure modernisation on war front …. And avoid getting involved in other people’s wars by NOT sending our boys to external war fronts! Increase Gold reserves !
It's Jimmy Connor, thanks for the comment and for taking the time to view our content! Great points!
Fantastic interview. Thank you.
It's Jimmy Connor, thanks for the positive comment! Don't forget to Subscribe to our channel and thanks for your support!
Can someone help me understand...I don't get it! From what I hear him saying my question is: Why is a financial system good for US when low unemployment is a BAD thing for investors, yet it's a GOOD thing for workers? To me this type of system sets up a rivalry between the two for they have competing interest. Sounds like investors make more money when there is HIGH unemployment, yet workers make more money when unemployment is LOW, therefore HIGH unemployment is considered a positive Economic indicator for investments? I am I understanding this correctly?🤔
Wonderful show. Great guest Rosenberg
Excellent and informative interview!
It's Jimmy Connor, thanks for joining us today Pauline and for the positive comment! Be sure to Subscribe to our channel!
Economies are normalising after the stimmie surge/massive deficit spending and this feels like the start of recession. But it's just normal, and Fed funds rate around 4 or 5% is also historically normal, low rates after 2008 were a deviation. The problem is politics this year and that is when we can see a real recession. Politics could very likely be so disruptive that bonds weaken due causing tighter bank lending and higher rates.
I agree with David on almost everything, except his assertion that high government debt is deflationary. Theoretically, sure, but in practise, the interest payments wont crowd out other spending, they will just continue deficit spending more and more. And if the bond market chucks a fit? The fed will just buy more and more of its debt. And repeat. I cant see a scenario where it doesnt go down this route.
It's Jimmy Connor, thanks for the comment Michael and for taking the time to view our content!
Deflation is always right around the corner with this guy.
this man is spot on i started sharing food too lol
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I feel inflation is the cause of all increases like property tax,insurance and houseing unlike how he thinks it does not affect these.Interest should be increasing for a stronger long term economy.Lowering rates is just delaying the pain.
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Rosenberg is in my opinion also wrong about interest rates not affecting sticky inflation they do in fluence sticky inflation things like insurance payments on the housing or cars but in a more subtle and slower acting way. When high interest rates cause a surge of unemployment and people buying cheaper cars and less new cars because they can't afford their credit card bills or their credit card interest payments are eating up all their budget the price of cars new cars and old cars eventually goes down. The same applies to housing and the price of new houses. People do Buy less insurance when times are tough. I know some middle income people who have stopped paying for insurance on their house even though their house is their largest asset they're just willing to take the risk and they don't have a choice. As far as cars and car insurance is concerned a lot of people are choosing to go with higher deductibles and less overall coverage. This causes competition among insurance companies and causes them eventually to lower rates. So it's not that high interest rates don't affect sticky prices it's just that it takes a little bit longer.
Thank you for an insightful interview. 🙏🏼
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For a Canadian this guy is spot on for us market
It's Jimmy Connor, thanks for your comment Kevin and for taking the time to view our content! David is one of the best!
Im glad the demand for oil is low. I don't think anyone can with stand oil costing $100 barrel...
Can the US afford to lower rates, which will drive down new bond yields? Don’t they need to attract new buyers to finance the growing debt needs?
It's Jimmy Connor, thanks for the comment and for taking the time to view our content. They must get IR down. The US cant afford to pay 4-5% interest on $35 trillion in debt.
19:29 I'd have to say you're mistaken there. It's more likely Disinflation not Deflation.
He mentioned all the revisions which is significant
Lets Go Brandon !!
Great observations!
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Great interview Jimmy. Simple and effective 🙌
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As for your headline, its nothing new for Americans to face overwelming odds. The government might destroy itself, but the people are hearty. A depression taught us how to survive the economic downturns. Just because the US is hunkered down during a bad administration dont mean we can be can be counted out.
It's Jimmy Connor, thanks for the comment James! Regardless of the people who lead/run our countries they still continue to thrive because of the people who get up everyday to provide for their families.
I think home prices will go down 25%.
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40% down in my opinion. When baby boomers start moving out of their homes, housing market will collapse.
Up to 40%
Good analysis but disagree with the conclusion to go long on long term bonds. That's because the US economy is breaking before China and other developing markets. Alternate monetary systems have sprung up and the world no longer fully depends on the USD
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I pulled out of equities in April this tear and went long on high yield corporate bonds. For yield and cap growth looking 1 year forward from now. After David's long position on gov bonds, I may need to rethink my position as too risky! Any thought would be appreciated.
It's Jimmy Connor, thanks for joining us today and for the comment! Apologies but I cant comment on your investment decisions.
Very informative interview and recommendation at the end.
David says go into bonds, why does he think rates will come down? I'm not saying the FED won't cut, but that is not what makes rates go down. The FED is usually just following the 2 year step for step.
It's Jimmy Connor, thanks for the comment! David thinks we are going into a deflationary environment and therefore the Fed has to cut and this will take bonds higher. Don't forget to Subscribe to our channel and thanks for your support!
Bonds, wow.
20 to 30% with bonds? I've made 125% in 4 years with silver IN MY HANDS WITH ZERO THIRD PARTY RISK.
It's Jimmy Connor, thanks for joining us today and for the comment! Nice work! What silver names?
This gentleman was spot on!
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Thanks for a reasoned explanation of today’s economy.
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