People Are Spending Because It's So Bad
Politics By Faith w/Mike Slater
The First Digital Inc.
4.9 • 591 Ratings
🗓️ 22 May 2024
⏱️ 14 minutes
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| 0:00.0 | Welcome to Politics by Faith, brought you by the Patriot Gold Group. We had such a fun show today. |
| 0:08.1 | We talked about this for like two hours. Here's my thesis. The number one issue in this election |
| 0:14.1 | in every election is the economy. Immigration may be number one, or at least people say it's number one but even that's an |
| 0:21.5 | economic issue too but it's the economy but the white it's terrible the economy but the white |
| 0:27.8 | house says what are you talking about everything's amazing things could be better everything's |
| 0:31.3 | great you guys are wrong here's all the reasons why the economy is great and one of the reasons |
| 0:34.9 | they give is look at all the people spending money we're are spending more money than ever before. And that shows high consumer |
| 0:43.0 | confidence. Now, one of the themes of the show is perhaps the opposite is true. When you are |
| 0:48.1 | presented with a statement, you have to think perhaps the opposite of that is true. So the statement |
| 0:53.4 | is people are spending a lot of money because |
| 0:56.1 | consumer confidence is high. The opposite would be people are spending a lot of money because consumer |
| 1:00.6 | confidence is low. That's what I think is the truth. I think people are spending now not because |
| 1:07.4 | they have confidence in the present or hope in the future, but because they are in such |
| 1:11.7 | bad condition today and they have such despair for the future economically. I don't want to do the |
| 1:17.2 | entire segment we did on Breitbart News Daily on Sirius XM Patriot, but it goes something like |
| 1:21.7 | what's the point of saving if I'm never going to get ahead? Why save money for a house when I'm never going to be able to afford a house? What's the point of saving at all when it's getting eaten up by inflation anyway? I might as well just spend it now. That's what we've got to this whole conversation about poverty mindset. Now poverty mindset has nothing to do with, well, I shouldn't say there's nothing to do. You can be in poverty with a poverty mindset. |
| 1:45.5 | You can also have a lot of money and have a poverty mindset. |
| 1:48.1 | At least a lot of money for now. If you keep this poverty mindset up, you won't have any. So what are some different aspects of a poverty mindset. So this is what we talked about in great detail. I'll just give you the overview. you. The poverty mindset mostly is when you get any amount of money, you spend it right away. |
| 2:02.4 | That's what you do when you're in poverty. You get money, you spend it. Now, you would think if you're in poverty and you get money, you would save it. But you don't, not with a poverty mindset. You spend it right away. Why? Because there might not be a tomorrow. Or you think there won't be a tomorrow. So you spend it all now. Why wait? |
| 2:17.7 | Why save? |
| 2:19.0 | Second thing is, I don't save money because I'm going to hit it big one day. I'm going to hit it big. I'm going to play the lottery. I'm going to get famous. I'm going to get the NBA or whatever. So I'm going to spend all my money now because why bother saving one day I'm going to hit it big. Another poverty mindset is I'm going to |
| 2:35.4 | spend money because I don't want people to know I'm poor. So when I get money, I'm going to spend |
... |
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