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David Friedberg: Government Spending is Making Everything More Expensive… and Driving America Toward Socialism david friedberg: “California's got tens of billions of dollars it spent on this stupid f**king railway that goes nowhere, where there's no f**king tracks…” David Sacks: “And there's no political will to even stop that....

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David Friedberg Explains the Hidden Collapse Beneath Record Stock Prices 🔥🪙 “Instead of trading it in US dollars, what if you just look at the US stock market, the total value, in ounces of gold?” “The stock market's up in dollar-denominated terms, but if you look at the stock market relative to gold, it's actually down.” “In a democracy, like we have for the past 250 years, without adequate constitutional constraints, it has always been the case that over time government spending goes up.” “And this is because in a democracy, people ask for their government to do more every year, and as they ask for their government to do more every year, the government agents who are elected say, ‘Okay, here you go,’ and they spend more.” “And eventually, when the borrowing capacity gets unlocked, which is what happened in the United States when we went off the gold standard, you borrow like crazy, you print money to fund those borrowing costs, but eventually the bill comes due.” “And in the United States, the bill is coming due.” “But I just want to tie it back to Minnesota, Donald Trump, and socialism.” “I think it's important for us to just highlight that if you own assets like we do, the four of us, we own stocks, we own real estate, we own other assets.” “As the dollar devalues and everything inflates in value, our asset prices go up and we get wealthier, and wealthier, and wealthier.” “The majority of Americans do not own assets. They are net asset negative.” “As a result, they live off of income and they do not benefit from the de-dollarization like asset holders do.” “And I fundamentally believe that much of the civil unrest and ultimately the divide in this country is driven by the fact that de-dollarization, because of excess government spending, ultimately leads a majority of people in this country to feeling oppressed and left behind because they're seeing a few people in the country accelerate their net worth, like all of us here, and there's no way for them to catch up because they don't actually own assets.”

The All-In Podcast

189,084 views • 6 months ago

🚨Should the US create a Sovereign Wealth Fund? Chamath and Friedberg discuss Chamath: “I think that we should start a sovereign wealth fund right now.” “The great news is that these Trump tariff deals come with huge amounts of capital that these other countries have committed to spending inside the United States.” “We've exceeded $1T of inbound capital on the investment side. We get 90% of the upside.” “A lot of that capital should be the seed capital for a sovereign wealth fund.” Friedberg: “The concern I have is anytime we create a new income stream at the federal government, or we have some sort of growing asset that you mark up on the book, someone tends to invest ahead of the curve on that.” “Meaning someone takes that and they're like, ‘Oh, great, I can spend more now.’ I mean, we even saw this in California (with) Gavin Newsom and the budget skyrocketed as the income went up.” “Rather than take the surplus and book it for a rainy day, they went and spent ahead of it, and then all of a sudden they had a huge deficit.” “Which is what happened with Social Security is, it's like, okay, all these people are providing this income every year to the federal government, which they're supposed to be paying into their Social Security Trust Fund, which is gonna go bankrupt sometime between 2030 and 2033.” “But then what happened is we raided the coffers, we took all that money, and we started spending it on random new programs.” “And the problem is, by giving the government more assets, by giving the government more income, we set ourselves up for a circumstance where the federal government, the Congress says, ‘Great, we got more money to spend. Let's do X, Y, and Z program and let's do this. Let's build a high speed train. Let's do this. These are all good for American people.’” “And all of a sudden, you don't actually solve any real problems. And this is why my argument is that we should use it to fill the hole that we have, for example, in Social Security.” “And that needs to become an asset that's strictly used as an offset on Social Security, because if you don't put it in that box, it just becomes another spending mechanism.”

The All-In Podcast

44,452 views • 1 year ago

.david friedberg: “We are now at a moment where we are saying there is no longer private property in the United States. This is one of the foundational rights that the founders of the United States tried to create: a distinction between these other nations that everyone flees from, where a monarchy or a totalitarian government or some communist system says everyone owns everything together, or some small number of people own and control everything. And that’s what this always comes down to. Whether it’s a socialist state or a communist state or a monarchy or some other totalitarian regime, there’s a small number of people that own and control everything. And that is the brink that we’re on. Because they are trying to say, for the first time ever, there is no longer private property in the United States. That if the government can say everything that you’ve already paid your income tax on, and then you’ve bought and you now own, the government can take a piece of it every year based on the vote and the budgetary needs of an irresponsible fiscal legislature. We’ve lost it all. And that’s where we are. And we see this just passed in Illinois. People think it’s just crypto, just like they think that billionaire tax is just billionaires. But anytime the government can take your private property after you’ve paid your taxes, bought something, and put it in your garage, we are done for. That is when the politburo has unlimited capacity to tax and take and do what they want. That’s the moment we’re at.”

Arjun Khemani

72,169 views • 2 months ago

David Friedberg Breaks Down Zohran Mamdani's Win in NYC: The College Debt Crisis Has Led Young People to Socialism "It's really a revolution against the system that brought them to this moment." "Because the promise that we gave in America, the American Dream, was if you go to college, you will graduate, you will have income, you will have stability, you'll be able to buy a home." "And what we did is we increased the government's role in making that dream possible, and in doing so, we created effectively a system where we gave unrestricted access to capital, which inflated the cost of education." " People could go to school like Zohran and major in African studies and graduate with $200-300K of debt and then never get a job. The guy has not had a real job. And this is the truth for 32 million young Americans." " They all have what is called negative capital. They have debt and they will never be able to get out of that cycle." "So where do you turn in that moment? You don't go turn to corporations to solve your problems. You don't go turn to your friends and your siblings and your family, they're not gonna bail you out." "You turn to the voting booth, and you hear a guy like Zohran show up and say, 'There can be a better path forward.' The better path forward is the government can and should do more to help." "And in doing more to help, we will increase government, we will tax the rich, we will tax the corporations. We will take all of that capital and we will redistribute it in the form of services and checks and support for all of the people that find themselves unable to take care of themselves." "And this becomes a tipping point when the majority of the voter base ends up in that situation where they're that deeply in need, where they have negative capital." "And that is the situation America finds itself in today."

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470,908 views • 1 year ago

David Friedberg: Through Zero-Based Budgeting, DOGE is Compelling Americans to Ask the Fundamental Question of Government On E214, david friedberg broke down the impact Department of Government Efficiency and Elon Musk are having: "If you zoom out on what DOGE is doing, I think the best way to describe it is zero-based budgeting." " In organizations that go through zero-based budgeting, you do a cycle, typically annually, where you take all of your OpEx, all of your expenses in running a company down to the studs." "You take it down to zero, and you rebuild it up..." " They're doing a zero-based budgeting on the federal government." "They're looking at every line item and they're asking the fundamental question, which I don't think we talk about in the public discourse enough, which is, 'What is the essential role of government?'" "And there is a great debate to be had around that point." "Should the government be providing humanitarian aid in international markets?" "Should the government be providing security to nations that can't provide security for themselves?" "Should the government be providing loans for people to go to sh*tty universities?" " Should the government be providing loans for people to buy homes that are overpriced?" "And as we start to ask the questions of how we're spending money, I think it ends up leading to the most important questions, which is what is the essential role of government?" "Which I think is the debate that needs to be had in order for the democracy to last."

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260,998 views • 1 year ago

Yesterday’s increase in Interest rates is not going to do anything to fix the underlying structural imbalances in our economy. It is not going to help build one oil refinery or find a new discovery oil. The reason we have persistent inflation in Australia is because our government is running high immigration, high spending programs alongside chronic underinvestment in infrastructure and manufacturing after decades of privatisation. It is completely absurd that the Australian people are now going to be punished with higher interest rates alongside higher fuel costs. The higher fuel costs is in-itself going to dampen demand by increasing the cost of living so why pour fuel on the fire by increasing the cost of living even more. We are in this mess because of government spending not because Australians are spending too much just to survive. Manipulating interest rates is only dealing with the symptom not the cause. Notwithstanding we can’t solve inflation in the next 30 days, Australia needs to start building more infrastructure and factories and training our children the trades needed to do it. This will increase the supply of essential goods to bring inflation down. People First is the only party with the policies that will do this. We will create an infrastructure bank to fund the infrastructure free from foreign debt and we will bring back the military apprenticeship scheme to train our children how to build and maintain the infrastructure and manufacturing plants. Sign up today at

Gerard Rennick

28,618 views • 5 months ago