Debt Crisis Will Collapse U.S. Economy

Unstoppable debt crisis will crash the U.S. economy sooner than later.

#useconomy #housingmarket #usrecession

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[jokerswild]

I’m from the UK and we are in exactly in the same position food prices are extortionate items are getting smaller in size and costing more. Mortgages are at around 7-8% for people with properties payments are up by around 30-40% in the last couple of years.
This seems to be a global planned operation to wreck the economy and bring in the new financial system imo. Love to you all from across the pond 😘

[nadruik]

I love how he pointed out that progress should be deflationary. When you think about it our last few decades have regressed us centuries till the average American is little more than an indentured servant or serf with all the wealth flowing to the top as we barely cover cost of living

[AHumbleAmerican]

Every time I think about what might happen this year, it gives me grave feeling in the pit of my stomach.

[virginiaalt]

Why has this happened? When income taxes were first set up, they were only on the very rich elites & corporations. But they financed politicians who would remove their taxes by exemptions mainly so that the tax burden fell on to the working classes & poor. So government started charging real estate taxes on peoples homes for revenue (then when Americans fell on hard times or retired & could no longer pay the constantly increasing real estate taxes, they were forced to sell or the government stole their properties for unpaid real estate taxes). This form of taxation needs to be stopped completely. The people need to demand it because they don't really own their homes when the government can seize it away from them because they can no longer afford the higher and higher taxes.

[jamesmcfarland]

Im a dealer and sell low cost rv and travel trailer ect, let me tell you almost all sells go to people who are gonna live in them and cant afford a home

[MadTrader]

In 2021 used cars over $25000 were selling faster than cars under $15000. I haven't seen that in 17 years being a used car dealership owner. I think it is a great indicator that we are at the end of a long bull market and it goes to show how peoples' phycology works. Back in 2011 nobody would dare to open a small business even though it was the best time to get started. Fast forward to 2021 everybody became a business owner and an investor even though it is the best time to sell it all and stand on the sidelines for oppurtunities. For some reason the public got it backwards. This one is gonna be worse than 2008.

[MultiRocknroll]

There is a road that leads to the far east suburbs of Phoenix. This area has been the "affordable" part of the valley (even though its not because of water rights issues). Drove down it yesterday and saw entire nb developments over half vacant l, as well as a good amount of those luxery items like rvs and big trucks for sale by owner on the side of the rode. People are getting desperate

[billhopen]

been following John since 2007....My grandpa, an illiterate Italian immigrant, amassed $48, 000 in his bank account (ps gold was $20 per oz) from 4 fruit stores he owned and ran in Manhattan in the roaring 20's He wasn't gambling in the stock market, just working & saving up in bank failed, he lost all his banked cash, he lost 3 stores, moved his wife and 7 kids to small apartment above the 4th store, they lived in poverty, cooking the vegies that went bad at the store, ..boiled in soups and sauces...eventually the 4th store went down...poor Grampa died in poverty in 1950's...over 20years, he never got back, after being a rich, successful man in 1929. His message, passed down to me: "If only I saved in Gold, in steadda dat bank" Now, I got 7 kids, and the 100th anniversary of 1929 is upon are your savings?, your reserves?, your retirement? Its been a hell of a bull mkt..."a bigga bigga bubble" BANG!....nothing left but gold and silver.

[pqtpat]

Pragmatic. My siblings & parents think I’m insane but they literally all rent, have 0 assets, debt, etc. it’s sad how gullible most are

[lauriegrissom]

I would never tell anyone to not pay their debt. They will come after you and garnish your wages. I would encourage people to live well below their means and save, save, save.

[jayneweaver]

Great interview. I found John Rubino on wealthion and every time he is interviewed, he has great advice and information. THANK YOU for having him on. You should have him on regularly, we need the sanity out here.

[davidlundy]

Our government’s responsibility is to protect the citizens, that’s it. It seems that our government is only trying to protect itself by doing ridiculous stuff without any accountability . They just lie about it knowing the bulk of the citizens are oblivious to what’s going on or they just don’t care. Selfish living by everyone is the problem. Thanks for an informed video.

[momof]

I enjoyed this guest he talks straight forward no big intellectual words that you need to google he just got straight to it and boy was he insightful Thank you 🎉

[metricdeep]

You can only dump your expensive toys if there are buyers. When buyers are one gets anywhere. Even if you repo all the goods...how do you warehouse them when there are no buyers? Warehousing costs money. The loss slope is really steep.

[EclipseEditzx]

I cannot thank you enough for bringing John on the show. Oh my god the wealth of knowledge he has was beyond I have heard from anyone lately. So much of what he said makes so much sense. Govt is continually kicking the can down the road but they will reach the end very soon. It’s not going to end well

[.]

I always love John’s take. He’s right. It’s just a matter of when.

[jJ-pqtk]

These guys talk sense, Car repos are way up. The Toyota dealer near me. 12 months ago there was maybe 10- 15 new vehicle's on the lot now it's full. The prices are so high they're not selling

[christinestephenson]

I can only thank God that at this stage of our lives, our land is paid for, house was paid for as we built it ourselves, and car and truck and RV are all paid for. Our retirement money is ALL in gold and silver. We owe no one anything except property taxes which i hate as they are totally unconstitutional! I feel afraid for our kids though who have house and car payments but have been blessed to keep their jobs. We are baby boomers, now in our retirement home just under 1000sq ft. on 17 acres.

[JohnDaniels]

"If 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." - Thomas Jefferson

[scarfo]

Did you see the opening of the video?!.. awesome..he states that he's not that good .that most of his predictions are wrong..wow..that takes BALLS to admit and now I will follow this man over the bridge..I love people who are grounded in reality..this man is grounded and doesn't get drunk off his own predictions..I recommend that you follow this person.