Hello america azure this is the kaiser report a man to quick low dial 1800000000 extension 0000 more on this. Ok boomer you are a boomer and you sound like a boomer always loans loans loans debt debt well i want to start this episode with this theme of boomer which has gone viral of course and thats the millennium versus the boomers the millennial. Basically rising up ok theyre the biggest voting block on the in town and theyre. Asserting their power so 1st to put the context of whats going on in america thats ok boomer thing i want to look at this chart and this is only from 79122010 and it shows the u. S. National debt and the u. S. Annual g. D. P. Says he see from when we started our National Debt in 179100 all the way to just after a while where to we had almost no debt g. D. P. Stayed flat and now the least nominally our nominal g. D. P. Is going up rapidly but its almost entirely with debt and as we know from covering drone powell last week you know that is starting to we were ha
Had to send several tons of gold to 300000. 00 worth at the time to france when they showed up with their naval ship in the new york harbor so there was a cost to it then they got to unhinge it and they of course it was a magic trick right but the boomers have a mentality that they are somehow. In daoud with amazing ability and entrepreneur and wonderful talent and Wealth Creation when we see the magic trick they were nothing special they were not unique the only thing unique about them is they had no alleged cost to their debt but now we have a new generation who wants a similar trick done for them entering the workforce and there is no trick you know weve were trying things like quantitative easing a negative Interest Rates we had never been tried in 5000 years and thats not doing the trick yet you know if im right and i think anyone Richard Nixon couldnt afford the war anymore because he had to pay in gold for the money he was borrowing so he cut us off from the Gold Standard then y
A boomer always loans loans loans debt debt well i want to start this episode with this theme of boomer which has gone viral of course and thats the millennium versus the boomers the millennial. Basically rising up ok theyre the biggest voting block on the in town and theyre searching asserting their power so 1st to put the context of whats going on in america thats ok boomer thing i want to look at this chart and this is only from 79122010 the shows the u. S. National debt and the u. S. Annual g. D. P. Says he see from when we started our National Debt in 17 9100. 00 all the way to just after a while where to we had almost no debt g. D. P. Stayed flat and now the least nominally our nominal g. D. P. Is going up rapidly but its almost entirely with debt and as we know from covering drone powell last week you know that is starting to we were having to create 3. 00 a day just for 1. 00 g. D. P. Said those are going to cross at one point but this is important to understand that this is th
Debt because the cost of incurring debt is for most people on wall street is their own. Cost anything. And used to be going back even 20 years hed have to pay 5. 00 or 6 percent in interest to take on a bunch of debt now to 0 in back in the in the u. K. Recently they had Interest Rates at a 300 year low price so theres no cost for that if you dont have to pay for it any just get it for free get a bunch of money delivered your office for free and you can go buy tiffanys with it or if you go buy a big production utility with it thats guaranteed income or buy Huge Corporation with it why not well there used to be a cost to debt which is why we did not incur any debt which is why we could not as a nation and thats why the g. D. P. Stay flat along with the flat levels of debt baby boomers were born in 1946 s. The 1st of them the debt started to rise g. D. P. Also started to rise nominally with it 971. 00 of course when the 1st of them or what 2223. 00 we went off the Gold Standard because t
View is that this is leading to feudalism or you have just a few private equity firms owning 98 percent of all the assets of everyone elses Living Service on that were getting back to the dark ages and in my view so were going to look at a few other stories to suggest yes there is the top 0 point one percent that you talk about but within that structure is allowed because the boomers got in 1st on this ponzi scheme we have a global free up ponzi scheme in the boomers were lucky enough to be right there when it started so were going to show you how they benefited most versus generation x. My generation which came after them and now millennial are doing even worse z. Forget them right fraction of us wealth owned by boomers and generation x. Are is when the average member of each was aged 35. 00 boomers and 1989 they owned 21. 00. Percent of us wealth generation x. In 2008 when they turned 358 percent so dropped by over 50 percent the average millennial turns 35 in 2023 right now they own