4.7 • 5.1K Ratings
🗓️ 17 July 2024
⏱️ 90 minutes
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| 0:00.0 | No one wants to see people without jobs. I was I changed the entire focus of impact theory the show |
| 0:06.5 | As my very small contribution to what I thought was going to happen because I did not know what money printing was. And so I thought, okay, people need to |
| 0:16.3 | buckle down, they need to know how to weather this storm. The problem is that while money printing worked, and it did a very good job of making sure that all of us in 2020 did not suffer, |
| 0:27.6 | it does create suffering for the next generation, for sure. And so we said said hey we don't want to suffer so we're |
| 0:36.0 | gonna leave you guys to suffer and so what I want to know is what do you think |
| 0:40.3 | history tells us about the money printing that we're doing now and the national debt that we've racked up because when I put it in context of the wealth of shadows and what happened to Germany and how crazy their debt was and the madness that ensued |
| 0:54.6 | because they were just so burdened with debt and what we can learn from Great Britain and what happened to them |
| 1:00.9 | because they were so burdened by debt. What does history tell us about this moment money printing and our national debt? |
| 1:08.0 | It's a great question. |
| 1:09.0 | So obviously during the Second World War, the United States printed a ton of money and racked up a ton of debt. |
| 1:15.5 | And we did it to win a war that we felt, I would argue correctly, and I think we would all argue correctly, |
| 1:20.3 | was existential. And sure enough, it it worked we won the war as we all noticed and the |
| 1:29.5 | and we ended up building a bunch of factories to build bullets and build airplanes. |
| 1:39.2 | You know, the airplane factories are still there, right? |
| 1:41.6 | Like the Boeing factories are still there. They're still making |
| 1:44.0 | airplanes. We ended up building up during the war. We used all the money printing and all the debt, |
| 1:51.1 | all the government bonds, to build a bunch of things that are kind of blue-chip |
| 1:58.6 | valuable American industries. |
| 2:01.6 | So I would not again say that the issue isn't money printing itself. |
| 2:10.0 | The issue is what are you using the money for? |
| 2:12.0 | The devil's in the details here. |
| 2:14.0 | If you're using the money to build factories that can now produce airplanes that we can sell all around the world and people can use to fly places, |
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