News: Holy Sh*t!! Another Economic Time Bomb Is Set To Explode
Rebel Capitalist News
George Gammon
4.7 • 1.1K Ratings
🗓️ 25 September 2023
⏱️ 11 minutes
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Summary
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Transcript
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| 0:00.0 | So we've got yet another thing to be concerned with as far as the economy and something that will most likely hit the fan, so to speak, within the next couple of months. It's like we've got this |
| 0:15.9 | perfect storm of everything just coming together and maybe that's what the yield curve is predicting, who knows. |
| 0:24.8 | But let's get into some more details of a story that we've been following on this channel |
| 0:29.6 | quite extensively over the last couple weeks here. |
| 0:32.0 | Go to see and be seeing I'll show you exactly what I'm referring to. |
| 0:35.0 | But they've got a different angle on it. |
| 0:38.0 | I saw this story and I just, my mind was blown here because we think about the repayments of the student loans |
| 0:49.2 | Starting up again in I believe it's October of this year. |
| 0:54.0 | So let's just say a month from now, |
| 0:56.0 | they're going to have to start making these $400 a month on average payments. |
| 1:00.0 | And this applies to literally millions of Americans. |
| 1:05.0 | I did the back of the Actkin math and it was like low 30s, like 33, 34 million people. |
| 1:11.0 | And that's a lot of purchasing power. |
| 1:14.4 | That's a lot of dinners that aren't going to be purchased. |
| 1:17.8 | That's a lot of movies that aren't going to be seen. |
| 1:20.8 | That's a lot of travel that isn't going to be done. That's a lot of travel that isn't going to be done. That's, this is a really big deal. But when we think |
| 1:27.0 | about this, at least you guys may be different. When I think about this, I think of it in terms of millennials and Josh's age group the the Jen the Jen Z and you think about all of their discretionary spending that they do, |
| 1:43.0 | that that may come to a halt, |
| 1:44.4 | but what you don't realize |
| 1:46.6 | is that a significant portion of these people |
| 1:49.7 | that have student loan debt are senior citizens. I mean look at this title as federal |
| 1:55.0 | student loan payments restart some older borrowers and I saw the word older and I'm |
... |
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