Economist Harry Dent is Interviewed by Straight Talk Wealth host Bruce Weide (Part 6)

[cornellmusicppc]

Well, that makes sense. Point of clarity, though: our private debt, which, as Mr. Dent pointed out, has deeply exacerbated our economic-demographic correction, is actually only quasi-private. Our government set up Fannie Mae and Freddie Mac, and went well out of its way to encourage those organizations to embrace bad mortgage choices. So is our debt private? Sort of, but not really.

[StrtTlkWealthRadio]

@cornellmusicppc Well that is the thing that he is saying needs to be stemmed. Govt needs to stop absorbing private sector debt.

[cornellmusicppc]

@StrtTlkWealthRadio Well, I would agree with that, but the other side of that coin is that government shouldn't go out of its way to encourage private debt.

[StrtTlkWealthRadio]

@cornellmusicppc Heck yeah. I could go on. The government DID encourage the heck of creating private sector debt by backing it through Fannie Mae and Freddie Mac backing bad loans, and ultra low interest rates. That's how we got here. You are spot on!

[cornellmusicppc]

@StrtTlkWealthRadio So much for our government's experiment with political-economic integration. Lol.

[25lockie]

I have stopped paying my debt. At to be honest, i don't care. Especially now that i have no job. And to see what they are doing to the economey, just makes me more stubborn. You are correct on saying that the debt has to be washed away "DTOX :)" If people were taught what banks were about at schools at a young age. I am sure that we would not have allowed this to happen around the world. I even see on WIKILEAKS what Barclays and other banks have been doing. And it isn't pretty. Nice Vids.

[StrtTlkWealthRadio]

@25lockie Thanks so much. I am really taken aback at everyone's response. You guys are all awesome! You might also go see the work of John Talbott, too. He names names. See our website StraightTalkWealth "dot com" and see the button at bottom of it "Economists on the Economy"

[EVUNAVideoNetwork]

Nice interview.

[StrtTlkWealthRadio]

@EVUNAVideoNetwork Thanks!

[StrtTlkWealthRadio]

@SteveFromEarth Life ain't fair...though that's not an excuse either.

[TheDisneylover23]

Thanks so much for sending this!

[Hkepfer]

Amen, amen -our Gov't is in denial about its role in this recession:

they confuse quantity of regulation over quality of regulation;

they spend money like a drunken sailor;

they do nothing to own-up, explain the gov'ts role in all of this.

hee hee ...maybe we should vote all incumbents out.

[TheUnitedNewsNetwork]

I actually understand what is being said, Which is crazy because I really suck at math.

[StrtTlkWealthRadio]

@TheUnitedNewsNetwork I will take that as a huge success for us. That is what I am trying to provide for folks.

[88MPJ]

All the nations of the world need to have their debt written-down, at this point!

[StrtTlkWealthRadio]

@88MPJ That's what the man is saying!

[enrique20reyes]

Very smart! Love it!

[StrtTlkWealthRadio]

@enrique20reyes THANKS!

[Ancientmirrors1]

Truly what a damn mess we are in,Lotta bankers and politicians should be in prison,

[StrtTlkWealthRadio]

@Ancientmirrors1 Oh, Dent won't pick fights, but look up the work of John R. Talbott on the Huffington Post. He's pissed!

[LOWRIDER4UNATL]

Ron Paul has been talking about a lot of these things. We need Ron Paul in 2012 or we are going to end up with Agenda 21.

[StrtTlkWealthRadio]

@LOWRIDER4UNATL Amen.

[AnnieO100]

Harry Dent is a prophet.

[StrtTlkWealthRadio]

@AnnieO100 Uh, sure...economically and socially I would agree.

[AnnieO100]

Christmas Bonus Video!

[NoLimitsTV1]

Great video Love the information.

[StrtTlkWealthRadio]

@NoLimitsTV1 That makes me smile!

[mrzack888]

Lesson of the story: Go have sex make babies. No population boom = no growth. So our entire current economic capitalistic system relies on a growing population to consume products and services that industries and small biz make/provide. When population decline then growth slows and businesses close and we have unemployment. Free trade economists never accounted for demographics. There is a limit to growth.

[StrtTlkWealthRadio]

@mrzack888 Well, I get what you say. Doesn't seem like it should be that way. But the fact has maybe as much to do with un-funded promises to generations, and generations borrowing from decreasing future generations. Therein lies the powder keg! In 1930 about 20-some odd workers paid into SSI for every 1 recipient. By 1950 it was 16:1. Now it's about 2:1. But the prior surplus was raided. Add to that trillions in government and private sector debt and you see why demographics change things.

[vantrang47BBvicky]

great :

[nicholas9999]

This guy knows nothing, lol. He wants deflation? With the Fed interest rate near zero, he wants a deflationary situation? Please don't talk like a fool. We need deflation like we need a poke in the head. We DO need to bail out ordinary debt holders, that is, holders of debt who would spend money if they were not so burdened with debt. That is the idea, but Obama cannot do it due to the resistance of Republicans who want him to fail.

[StrtTlkWealthRadio]

@nicholas9999 DUDE..he's not saying he WANTS deflation. He's saying it's unavoidable. If you write down debt that IS deflationary. People who thought they owned paper now own nothing. That is deflationary - loss in the value of assets and everything connected to those assets. Pension funds and probably YOU own a piece of that write down. So I guess maybe he does want deflation in that sense, as it leads to a readjusted real re-set of the economy. But really, thanks for your comments. Seriously.

[nicholas9999]

@StrtTlkWealthRadio - Lol, your meaning of deflationary is not the same as mine. My meaning of deflation has to do with people's expectations that prices will get cheaper, and so they wait for a better price, which ends up ruining the economy. In fact, inflation-hawks are complaining that the current bailouts will result in massive inflation, not deflation.

[StrtTlkWealthRadio]

@nicholas9999 You got the same definition my friend. The Inflation Hawks, according to Dent are wrong. Inflation is caused by more $'s being put into circulation. But the Private Sector, through insane leverage put more $'s into circulation (around $20-30 Trillion-he gives the number) over the last 10-12 years than the Fed will ever be able to. And now, with debt de-lveraging, and let's say $15-20 trillion vaporizing, the Fed can't match that. If he tries the bond markets won't buy,theoretically

[StrtTlkWealthRadio]

@nicholas9999 @nicholas9999 PRT 2 - So when you (or banks, or pension funds, or other investors) are holding debt that they think will pay, but it will not, guess what? Deflation. And yes, your house goes down, your stocks go down, your business fails, and people are unemployed. No buyers hold prices down. Bad for asset holders and workers that lose their jobs. Good for those holding cash that can buy. See my lead article on my website at StraightTalkWealth "dot com"

[nicholas9999]

@StrtTlkWealthRadio - Still sounds like the same ol' doomsday scenario. I don't buy it, sorry!!

[StrtTlkWealthRadio]

@nicholas9999 I appreciate how you feel. I've heard that the world is coming to an end all of my life. And you know, I don't feel compelled to have to be "right" about it either. But what do you actually think happened in 2008? Did the government just make it all better now? Or is it possible the other shoe is still there to drop? You have to understand 2008 to determine what our risks still are today. Frontline (PBS) did a great episode called "Inside the Meltdown". Check it out.

[nicholas9999]

@StrtTlkWealthRadio - Two overlapping problems hold the economy back: 1) enormous companies that straddle our economy and basically make it impossible for smaller companies to then get into that business (whatever business it is), and 2) multi-national companies that are able to play one country off against another in terms of labor costs. Our economy is large and absorbs most mistakes that were made. Although little has been done to prevent another meltdown.

[DeKalblu]

Sounds reasonable... Thanks for sharing. Cheers♥

[StrtTlkWealthRadio]

@DeKalblu Glad you liked it.

[Mrhappyonline]

Hello love, I love love love your video, keep up the good work. Merry Xmas! Love Love Love, Mr.Happy! AND YOU KNOW THIS LOVE!

[harlemtalkradio]

Great show, solid interview keep it rolling.

[StrtTlkWealthRadio]

@harlemtalkradio Thanks so much. I see you are really out there, too. Carry on my friend.

[NWOrDREGS]

And the average CEO made 27% more pay then last year! Why bailout these Banksters? So they can move the majority of the bailout to offshore banks? They did. Cayman Islands was the bulk of the bailout transfers!

The biggest heist in World history! And the sheeple don't blink.

Forget your mortgage. If your house is worth less? Don't pay. Walk away from it. You'll NEVER get your investment back. Unless you live in Hawaii or San Francisco.

Now our elected ones are trying to shut us up. Transparency?

[StrtTlkWealthRadio]

@NWOrDREGS You sound like a cross between Harry Dent and John R. Talbott.

[grumpyjamaican]

i agree with you guys well said ,good vid.

[StrtTlkWealthRadio]

@grumpyjamaican Thanks so much!

[grumpyjamaican]

@StrtTlkWealthRadio ,you are welcome my friend.

[danjock]

Nice

[StrtTlkWealthRadio]

@danjock Thanks!

[tillasmax]

Great video keep up the good work.

[StrtTlkWealthRadio]

@tillasmax Thank you!

[brokennarcissist]

Yeah yuppies will fix the economy, detached middle class scum.

[StrtTlkWealthRadio]

@brokennarcissist Uh-oh! I've been caught!

[tillasmax]

Great video keep up the good work.