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

Economist Harry Dent is interviewed by Straight Talk Wealth host Bruce Weide. Part 6


You can subscribe to Bruce's iTunes podcast's here: http://itunes.apple.com/us/podcast/straight-talk-wealth-radio/id492595223

Category:

News & Politics

Tags:

• Harry Dent
• economist
• housing crisis
• economy
• straight talk wealth
• bruce weide
• radio host
• radio show
• Economics
• Interview
• Radio Personality

[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!

[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"

[cornellmusicppc]

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

[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.

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