'What The Hell Do I Do?!' - Patrick Bet-David Explains How Inflation Will Crush Middle America

Patrick Bet-David Podcast Episode 153. In this short clip, Matt Walton discusses the federal reserve raising interest rates.



#PBDPodcast #ValuetainmentShortClips

[MyHeroWasDrownedInMoonlight]

I don't think that middle America is out here affording $3000 house payments.

[jasonolinger]

I'm in construction and i know a lot of other contractors who got the PPE forgiveness loan "free money" for covid. All of them used that money for their own personal uses, what a complete waist of money.

[adamwhitehead]

If rich people are this concerned about inflation imagine how the lower middle class feels.

[hopetolight]

Love Patrick encouraging him when he said he would do the financial literacy exercise with his daughter.

[theworldisastage]

During periods of inflation, the best strategy is to be good at something. Warren Buffett

[djlee]

The Fed can only raise rates to a level where debt servicing (interest payments) can be sustained. This level (according to economists) is much lower than what is needed to counter inflation.
Thus they have to choose between raising rates to the point of bankruptcy OR start printing money again in order to save their institutional buddies that are “too big to fail”. The answer is obvious.

[CaptainHammerFists]

“I think it’s gotta balance out.” “It’s gotta go down.” Imagine being so comfortable that we just believe we can’t fail. This guy doesn’t know what is going on.

[neilk]

I went throughout public school in my life before college (which started in 1998). But prior to that, classes were offered (not required) for Finance & subjects related, as far back as 7th grade (1992).

I agree, the best literacy comes from the upbringing at home. But unlike my peers, I took the classes in school too, which I'm lucky to have as both sources. Needless to say, I was able to "retire, " or F.I.R.E. as of June of 2019. I currently work, not for the money (which I earn a bulk from investments) in order to have good-great health insurance. Plus, I love staying active in a technically driven industry. In my spare time, I educate those who ask and in return I learn about others and just the overall dynamics of our economy.

I guess the point I'm making is: if you want to learn something, it takes one's own initiative instead of asking the school system to teach another subject.

[TheRbruin]

One word: STAGFLATION. Brace yourselves people. Its not looking good

[briangregory]

Matt is spot on. You have to live within your means.

[dondp]

Lol. You forgot one variable.
Length of loan.
Looks like 30yr will turn into 40 or 50 yr loan

[uncommonsense]

Home prices will INcrease more on lower price homes as higher rates drives competition for smaller homes. Homes smaller than 2800 sq ft will be the most expensive. With high energy costs the large 4500 sq ft homes will become half vacant. Home inventory on smaller homes will be driven into insane competition with multiple multiple offers . Smaller energy efficient homes will be all the rage.

[markprocheska]

Good Show but its possible that the FED has to go back to QE and drop rates to 0% before rates get to 6%

[ericberges]

I like how billionaires are telling us we don’t work hard enough. You couldn’t work one day in my father’s shoes let alone my grandparents. I really liked ya until this

[Bullwinkle]

We built a house in 1980. Our first mortgage was over 17%

[jonjohnsonreads]

Please have Barry habib on monthly or quarterly
He is a great guest to guide your listeners during this time

[bigb]

focusing ONLY on monthly mortgage payment on housing is not very smart. Same thing for car payment. Determine how much the house cost, what the interest rate is, the duration of the loan and the monthly payment. You can be paying 45 years for mortgage and not know about it because an individual deemed they can afford monthly payment. Or 50, 60 year mortgage.

[kane]

I took a random accounting course in my senior year bc I needed a math credit. Ended up being the career path I pursued and got a degree in accounting. The best choice I made.

[Diddley-jslf]

In 2001 i paid 7% on my new built home, it was a variable for 15 years until it was starting to go up i locked it in at 2.3% with only 10 left on my mortgage.

[dimitrivancamp]

They should lower intrest rates again and print more money to push up asset prices, this benefits everyone