Here's the feed for the recording.
(no more to this message)
This is a companion discussion topic for the original entry at https://peakprosperity.com/recent-radio-spot-with-jason-bradford-of-kzyx-ca-2/
I enjoyed listening to the show and am glad to see you getting the word out. The possibility of a banking holiday highlights just how deep we’re getting into this now.
Wish I heard more of this on the radio…
well spoken. Follow the money.
How can anyone be in debt if you are over 19 years old?
Every time you pull out your "credit" card you have told every one in the store that you can’t afford what you just puchased. Time to grow up folks , time pull your heads out of your b…s and realize that you are a big part of the problem.
Get ready for the next 5 to 20 years , you may not be able to handle it.
Maturity is defined as moving from enviromental support to self support.
it's time, thanks, Bob Gordon
It starts with $20,000-$50,000 in student loans. Why? Because there are so many people with diplomas today that its impossible to get a decent job without one. Top that off with student fees rising way faster than inflation and stagnant wages for the middle class.
From there one gets a car. A must have in the majority of the United States. In many communities it is impossible to hold a job without one. Since you have student loans from the get go, it goes without saying that you need to take a car loan too. +$15,000.
Next comes the house. Since asset prices bubbled up so much, and to be frank we’ve been buying them on nothing but loans for a long, long, long time. +$300,000.
Now, since you are already so in debt, and will never get out until your about 50+ years old. May as well say F**k it and pull out the credit card. What they going to do? Take away the stuff you don’t own?
(I myself don’t have any debts, but I owe that as much to moderately wealthy parents – no debts to start with – as I do to my extreme miserly tendencies.)
To put it simply, the reason our society is so far in debt has as much to do with our bad habits as the fact that our society has engineered itself so that without taking that debt you will almost certainly lose. Which is why a hard reset is probably the only fix.
–
Steve
There is another path:
I’m 26 years old, have zero debt (use credit cards but always pay them off), and am a very successful young professional. My parents helped a lot with college but I still got a job and paid for about half. I didn’t get a lame degree with no potential and went with engineering instead. When I got out of school I saved money and bought a USED car with cash. I am renting right now because I don’t believe a house is right for me right now, my money’s better off overseas, in gold, and spread across several banks in cash accounts.
My advice for all the young people who are on this site wondering what to do, get a degree with job potential from a state university to save money, work REALLY hard, and give up on not working through college, buying a brand new car and a house you can’t afford. And don’t buy your fiance a $20k diamond ring or spend your weekends in Vegas.
Recession/Depression or whatever you want to call it, this is going to be a rough ride, and our excess and greed was a big part of the cause.
-J1
Thanks J1:
Sounds like you have spent time in the real world. We need more young people willing to take on a career with tangible results as in a trade . There seems to be an infinite number of "degrees" looking for a finite number of jobs. I know as there are many of them working with and for me and no idea about a real days work. This is a North America wide problem. We felt that we could just send these jobs elsewhere and still survive. Guess that didn’t work. we have tried to exist on a land of non producing wage earners.
I know your country hasn’t regulated the banking communitee in the past thinking that to be a socialist concept. How is that going , oh yah it isn’t. Now we are all on the Titanic and we just hit the iceberg because the owners and captain were morons, thanks.
Maybe the banks weren’t totally the reason. Let’s think of it like the famous Autobaun , no limits, few rules,and only a few drivers and vehicles can handle it. Funny we let bad drivers with junk cars , Ladas, Yagos (aka US banks) try to manouver this highway at the expense of the public.
The criminals that caused this $ disaster should serve long prison terms, lose ALL personal assets, put their families on welfare. Harsh , you bet, just look what they have done world wide.
thanks, Bob