Little bit of economics.

[Ohiocruiser]

As a fan o Peter Schiff, I thought I would post it here. Might be interesting for someone. I really like his views.

 

[Ohiocruiser]

And as a regular listener of his podcasts, I wanna post his latest one. Which I think was very good. And having English as my second language, I really appreciate his ability to explain complicated things in easy to understand language.

 

[PaFromFL]

A permabear goldbug like Peter Schiff will eventually be right, like a stopped clock. Still, a recession is likely in the next couple of years if the housing bubble continues to burst.

 

[Ohiocruiser]

A permabear goldbug like Peter Schiff will eventually be right, like a stopped clock. Still, a recession is likely in the next couple of years if the housing bubble continues to burst.

And when it happens (him being right), it gets pretty shitty. Considering debt levels on literally all levels, and ballooning deficit spending (monetizing it, like any banana republic at this point), I am worrying, printing our way out, might not work any more, because looks like, less and less countries are willing to import our biggest export, aka inflation.

 

[AdrianG]

On the upside, a vast majority of countries that might be moving away from the US Dollar aren't doing better, they are doing worse. I don't see them moving to Pounds Sterling, and unless they are moving to the Kuwaiti Dinar or something, the US Dollar should be alright.
That said, the US housing market is absolutely nuts right now, and it would probably be in all of our best interests to prevent the Chinese from acquiring too much property in the US, especially if there is a huge correction in that market.

 

[Ohiocruiser]

I don't know. The idea of me eating dog shit, while my neighbor eating the same while hitting himself on the head with stick, doesn't comfort me at all. As for the housing market, I really think it is lot more durable than 2008 market. Because of the high interest rates, most people will do everything they can before mailing their keys to the bank. Low interest loan is an asset in high interest environment. Now, the commercial real estate, with it's short refinancing terms (5-10years) and all that work from home thing, is an absolute disaster. And I wouldn't worry about Chinese in this case. Their economy is basically in free fall right now.

 

[AdrianG]

My point was that we are probably in a much better position in the US than a vast majority of the world, and that we would probably be one of the last ones to fail. If it does come to that, then it was going to happen anyhow.
China overall isn't doing well, but these multinational Chinese owned companies will probably be alright as their portfolios are quite diverse. Plenty of US properties have already been acquired by Chinese companies, apparently.

 

[Ohiocruiser]

Just wanna bring my favorite Thomas Jefferson's quote, which,I believe, perfectly describes current situation: "lf the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless on the continent their Fathers conquered"

 

[AdrianG]

Jefferson was far from perfect, but he was absolutely right about the Central Banking System.
Hamilton was an establishment goon!

 

[Ohiocruiser]

Nobody's perfect. But I wish more people knew about monetary system basics.

 

[AdrianG]

If and when the US falls, it will more than likely be due to a combination of a labor shortage and manipulation of the money supply. We can somewhat solve labor shortages through outsourcing or AI, but it won't be a cure-all.
The money situation is probably too intertwined with government to be solved through simple policy or technology changes, though, especially considering that they want control over the crypto market.

 

[Ohiocruiser]

Another interesting interview worth listening to.

 

[Ohiocruiser]

She is quickly becoming my new favorite economist.

 

[Ohiocruiser]

Another great interview. While we are getting closer and closer to become another socialist shithole,hopefully more people will become interested in monetary system basics, and understand the real cause for all that insanity, instead of blaming everything on rich and greedy businesses.

 

[Ohiocruiser]

aaron russo interview - Google Search I remember, watching this video long time ago, thinking this guy sounds crazy. I am not sure anymore.