Doug Casey's Take: America's Debt-Fueled Nightmare
Doug Casey's Take, Released on 4/16/23
00:00 IntroCouple's Debt [00:00:31]A couple with high incomes and advanced degrees are in significant debt, including $335,000 in student loans, $136,000 in credit card debt, and $44,000 in personal loans.
Living Above Means [00:06:52]Matt and Doug Casey discuss how many Americans are living above their means, with the average price of a new car being $46,000 and people financing them for seven years.
The history of consumer loans [00:09:42]Doug Casey discusses the history of consumer loans and how they have contributed to the current debt crisis.
The impact of credit on inflation [00:12:27]The speakers discuss how the availability of credit has driven up the cost of consumer goods and contributed to inflation.
The cost of homelessness [00:17:09]The cost of supporting homeless individuals is discussed, with estimates ranging from $80,000 to $106,000 per person per year.
Avoiding College [00:19:33]Doug Casey advises against going to college and suggests alternative ways to spend four years productively.
Savings and Debt [00:23:07]The speakers discuss the importance of avoiding debt and being an aggressive saver, despite the challenges of inflationary society.
Taking on Debt as a Speculation [00:27:30]Doug Casey shares his experience of taking on a mortgage as a speculative strategy, but warns that it should only be done with caution and when one has the cash to back it up.
Entrepreneurship [00:30:25]The benefits of becoming an entrepreneur and the infinite demand for goods and services.
Free Private Cities [00:32:18]The free private city movement and a brief history of the Republic of Minerva.
Doug's Advice to men in their 40's [00:41:44]Doug Casey advises to do things and avoid laziness or fear to avoid regrets in old age.
Importance of doing, having, and being [00:45:44]Doug Casey emphasizes the importance of doing things to become something, which helps in having things and ultimately being something.
St. Kitts as a bug out location [00:48:05]Doug Casey shares his opinion on St. Kitts as a bug out location, stating that there may be better options available.
The Fed buying stocks [00:50:07]Discussion on whether the Fed will buy US stocks to boost the stock market, citing examples from other countries.
Cornering the silver market [00:52:10]Discussion on whether it's possible to corner the silver market, with a reference to the Hunt brothers' failed attempt in the past.
Religion and woke culture [00:59:00]Discussion on the decline of religion in the US and Europe, and the rise of woke culture as a new religion.
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Doug Casey is an American-born libertarian economist and advocate of the free market. He is a bestselling financial author, international investor, entrepreneur, and the founder and chairman of Casey Research, a provider of subscription financial analysis about specific market verticals including natural resources/metals/mining, energy, commodities, and technology. Since 1979 he has written or co-written the monthly metals-and-mining-focused investment newsletter The International Speculator. He has authored four books, including Crisis Investing
Doug Casey's Take: America's Debt-Fueled Nightmare added by Herman James on 04/14/2023View all posts by Herman James ?+'