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🚨David Friedberg warns that America’s affordability crisis is pushing even young conservatives toward socialism. “53% of self-identified conservatives under 40 support government-run grocery stores. Not Democrats, conservatives. Take that in.” He points to polling showing Republican support for capitalism falling while more believe the system is rigged toward the...

38,485 просмотров • 13 дней назад •via X (Twitter)

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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. It'd be the easiest cut in the world.” Friedberg: “Just think about the idiocy. Like, no one is saying we shouldn't do this. Why is no one saying we shouldn't do this? A quarter trillion dollars for a train from San Francisco to Fresno that costs more than an airline ticket is so idiotic. It's like the movie ‘Don't Look Up’. Like, look up. It tells you everything you need to know. Across the board, these government programs cause more harm than good. When the government intervenes in underwriting student loans, and gives everyone a loan, administrative costs went up by 6x and tuition skyrocketed 8% a year, compounding for 30 years, because the government said, ‘We'll underwrite any student loan.’ The same with housing, and now no young people can afford a house. The same with healthcare, where they said, ‘We'll pay people to stay home and not work to take care of people, and we won't check on whether or not they're actually taking care of people,’ and the cost of healthcare skyrocketed. You go across every one of these government programs, and every one of them has the adverse effect of driving up costs and inflating everything. And the core root of inflation in this country is government spending. And the reason we are going to end up becoming a socialist country is because we aren't reining in government spending and looking it in the mirror and saying, ‘Guys, this is idiotic. What are we doing?’”

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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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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.”

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David Friedberg: Higher Interest Rates Are About to Make America’s $40 Trillion Debt Problem Much Worse “The federal government has a problem because over the next 12 months they have to refinance $10 trillion of debt. That debt is coming due. Those bonds are now due. They have to pay the principal back to the bond holders, and they have to go back to the treasury market and sell more treasuries to borrow more money to refinance. So the borrowing cost now is going to climb up, and when that borrowing cost climbs up, the federal government's burn goes up and the fiscal deficit goes up. So my theory and my argument on this is: There is no action that Bessent can take that's actually going to have a meaningful effect on the long end of the curve. We have a fundamental fiscal spending problem with the federal government right now. It is very expensive now to borrow money if you're the US federal government. And the reason is persistent inflation, I would argue because of excess government spending on social programs and other things. And the big problem at this point is the federal government is spending so much that if they were to cut spending aggressively, the argument and the concern is it would hit unemployment and it would cause a recession because the federal government is such an intricate part of the economy now. That's the argument. But it's causing inflation, and it's causing deficit spending. So this year the deficit will be roughly $2 trillion. And as a result, the market is saying, ‘We're worried about the US fiscal solvency over the long run, or there's a higher risk. As a result, we're going to charge you a higher interest, 5.2% on the 30 year.’ What does this mean for the federal government? Well, today, the federal government's average cost of debt is 3.4%. That's what we're paying on interest on average on the $40 trillion of debt that the federal government has outstanding. For every 1% change in the interest rate, the US government has to pay 1.25% of GDP in excess interest each year. 1.25% of GDP in interest each year for that 1% change in the interest rate.”

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