We already have $2 apples and 6$ cauliflowers in the Uk, they are organic ! Steep price rises have happened in last 3 months on food, energy and utilities.
Fantastic interview. David is one who has forgotten more about economics than most people will ever know. Do I disagree? Yes, slightly. I see a different outcome but that is not a big deal.
Americans today, bodily & mentally, are ill prepared for an economic depression. And our national economy doesn’t offer the back up plans & second chances that America’s Depression Era 1930’s economy offered.
Apparently, one-half of Americans still had some kind of family connection to the farm back in the Great Depression. That’s a politico-socio-economic pressure release valve that we don’t have nowadays. Furthermore, most people belonged to larger nuclear families back then, and much, much bigger extended family networks.
And Americans weren’t physically ill (obesity, diabetes, etc., autism, Alzheimer’s, etc.), and the age-population distribution curve wasn’t top heavy with seniors back then like it is today, and furthermore a top-heavy distribution where the older & unproductive members of society are the ones holding the ‘wealth’ (home equity, pensions, Social Security payouts) plus disproportionately consuming the nation’s resources (medical expenses, retirement homes).
Since the Great Depression, two whole entire classes of government dependent people has been created: one at the bottom layer of the socioeconomic strata, the other at the top; that’s today’s retired(ing) Silent Generation & Boomer ‘middle class.’
All funded by too few productive ‘middle class’ workers of sound body & mind.
Really, we’ll be lucky if it’s only a 1970’s style stagflation (that TPTB try to pin on Trump).
And we’ll be really, really lucky if the impoverished & dispirited electorate does not vote for communism in 2028; we narrowly averted Komrade Kamala in 2024 😡
Thank God we didn’t move to communist Canada. We moved to the preeminent socialist (not communist) success story of the post-WW2 modern industrialized democracies. You might be surprised to learn that, no, it’s nowhere in Northern Europe 😂 It’s Japan 👍🙂
I personally don't believe that the people that try to manage the economy have as much control as they think that they have. Yes, they can screw things up but I don't think that conversely that they have the ability to make it better.
I personally like tariffs. It gives the government more options beyond the strongly worded letter that don't reach the level of armed conflict.
The effects of tariffs are not that mandatory. There are almost always options. If the price of European cars goes up due to tariffs, you can buy one from the US, Japan, or Korea. Maybe you might just drive the one you have longer. If the price of beef goes up, maybe you might eat pork or chicken instead. Maybe just go with a bowl of beans. If there is a tariff on Canadian maple syrup, you can use some Mrs. Butterworth's or just have something besides pancakes for breakfast. Nobody died from not having avocado toast.
The same thing for inflation. When prices go up and people stop buying, it creates pressure that can make things cheaper. The producer's can't just sit on their products indefinitely. Eventually, they have to cut their losses. People got rich during the depression. Some people made out like bandits in Argentina when they were going through hyperinflation. All of a sudden they could pay off debts at pennies on the dollar. There are going to be a flood of properties that people fixed up for rentals that when they don't perform are going to be had for cheap.
The only ones who will be hurt are the people that are overextended. If I get a stimulus check, I will just put it in the bank and not change my spending habits in any way. If someone goes out and blows it on something stupid, that's on them.
It can be big things or little. You don't have to worry about rent increases if you own your home. You don't have to go out to eat. Fix something at home and take a sack lunch to work. Don't finance a lifestyle you can't afford to pay cash for. It's pretty simple.
David outlines some hidden or unexpected consequences of Trumps bombastic style that I wasn't fully aware of. I guess the bottom line is that wealth is diminishing for many sectors because of tariffs, stimulus cheques, supply chain disruption, etc. There's a lot of waste and corruption in the government that needs to be dealt with, and so they're firing and slashing like mad, but it's going to hurt the economy more than they thought.
In Canada it seems like the new narrative is that Trump is the cause of all our problems. He is a convenient scapegoat to divert attention away from our failing economy, rampant immigration, woke ideology, government and corporate corruption, and on and on. He's the perfect fall guy to blame for a decade of absolutely dismal, irresponsible policy with no accountability. Canadians are particularly gullible when fed the media hype about Trump, but their anger and fear is misplaced and being used for political gain.
I've not spoken with anyone here in Canada that thinks Trump is the "cause of all our problems". The Canadians I speak with see him as the cause of unnecessary problems and a destroyer of an already flawed democracy. As "woke" means being aware of and sensitive to people who have been unjustly treated I certainly hope he doesn't divert our attention from that. Though corruption has seemed to spike in Canada since it became a Petro state under Harper it still seems almost quaint compared to TrumpCoin Musk data mined Murica.
Great interview. Truth hurts but its good for you. Accountability is key. Keep up the pressure.
We already have $2 apples and 6$ cauliflowers in the Uk, they are organic ! Steep price rises have happened in last 3 months on food, energy and utilities.
Fantastic interview. David is one who has forgotten more about economics than most people will ever know. Do I disagree? Yes, slightly. I see a different outcome but that is not a big deal.
Great interview.
Americans today, bodily & mentally, are ill prepared for an economic depression. And our national economy doesn’t offer the back up plans & second chances that America’s Depression Era 1930’s economy offered.
Apparently, one-half of Americans still had some kind of family connection to the farm back in the Great Depression. That’s a politico-socio-economic pressure release valve that we don’t have nowadays. Furthermore, most people belonged to larger nuclear families back then, and much, much bigger extended family networks.
And Americans weren’t physically ill (obesity, diabetes, etc., autism, Alzheimer’s, etc.), and the age-population distribution curve wasn’t top heavy with seniors back then like it is today, and furthermore a top-heavy distribution where the older & unproductive members of society are the ones holding the ‘wealth’ (home equity, pensions, Social Security payouts) plus disproportionately consuming the nation’s resources (medical expenses, retirement homes).
Since the Great Depression, two whole entire classes of government dependent people has been created: one at the bottom layer of the socioeconomic strata, the other at the top; that’s today’s retired(ing) Silent Generation & Boomer ‘middle class.’
All funded by too few productive ‘middle class’ workers of sound body & mind.
Really, we’ll be lucky if it’s only a 1970’s style stagflation (that TPTB try to pin on Trump).
And we’ll be really, really lucky if the impoverished & dispirited electorate does not vote for communism in 2028; we narrowly averted Komrade Kamala in 2024 😡
Another strong argument for why you moved your family out of the country. Wise!
Please tell me this knucklehead George, with his "komrade Kamala " nonsense comment, didn't move to Canada
Thank God we didn’t move to communist Canada. We moved to the preeminent socialist (not communist) success story of the post-WW2 modern industrialized democracies. You might be surprised to learn that, no, it’s nowhere in Northern Europe 😂 It’s Japan 👍🙂
I personally don't believe that the people that try to manage the economy have as much control as they think that they have. Yes, they can screw things up but I don't think that conversely that they have the ability to make it better.
I personally like tariffs. It gives the government more options beyond the strongly worded letter that don't reach the level of armed conflict.
The effects of tariffs are not that mandatory. There are almost always options. If the price of European cars goes up due to tariffs, you can buy one from the US, Japan, or Korea. Maybe you might just drive the one you have longer. If the price of beef goes up, maybe you might eat pork or chicken instead. Maybe just go with a bowl of beans. If there is a tariff on Canadian maple syrup, you can use some Mrs. Butterworth's or just have something besides pancakes for breakfast. Nobody died from not having avocado toast.
The same thing for inflation. When prices go up and people stop buying, it creates pressure that can make things cheaper. The producer's can't just sit on their products indefinitely. Eventually, they have to cut their losses. People got rich during the depression. Some people made out like bandits in Argentina when they were going through hyperinflation. All of a sudden they could pay off debts at pennies on the dollar. There are going to be a flood of properties that people fixed up for rentals that when they don't perform are going to be had for cheap.
The only ones who will be hurt are the people that are overextended. If I get a stimulus check, I will just put it in the bank and not change my spending habits in any way. If someone goes out and blows it on something stupid, that's on them.
It can be big things or little. You don't have to worry about rent increases if you own your home. You don't have to go out to eat. Fix something at home and take a sack lunch to work. Don't finance a lifestyle you can't afford to pay cash for. It's pretty simple.
David outlines some hidden or unexpected consequences of Trumps bombastic style that I wasn't fully aware of. I guess the bottom line is that wealth is diminishing for many sectors because of tariffs, stimulus cheques, supply chain disruption, etc. There's a lot of waste and corruption in the government that needs to be dealt with, and so they're firing and slashing like mad, but it's going to hurt the economy more than they thought.
In Canada it seems like the new narrative is that Trump is the cause of all our problems. He is a convenient scapegoat to divert attention away from our failing economy, rampant immigration, woke ideology, government and corporate corruption, and on and on. He's the perfect fall guy to blame for a decade of absolutely dismal, irresponsible policy with no accountability. Canadians are particularly gullible when fed the media hype about Trump, but their anger and fear is misplaced and being used for political gain.
I've not spoken with anyone here in Canada that thinks Trump is the "cause of all our problems". The Canadians I speak with see him as the cause of unnecessary problems and a destroyer of an already flawed democracy. As "woke" means being aware of and sensitive to people who have been unjustly treated I certainly hope he doesn't divert our attention from that. Though corruption has seemed to spike in Canada since it became a Petro state under Harper it still seems almost quaint compared to TrumpCoin Musk data mined Murica.