Danielle DiMartino Booth: Socialism Coming to America

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Tom welcomes Danielle DiMartino Booth back to the program. Danielle is the CEO and Chief Strategists for Quill Intelligence, a research, and analytics firm.

Danielle discusses the rapidly growing debt paradigm and why the Fed believes they can increase debt faster and faster without consequence. Now they need Congress to pass additional stimulus programs to maintain the system. These stimulus programs keep the stock markets levitated while the idea of "Don't fight the Fed" is suppressing and stifling competition and innovation.

Today, the country that grows it's balance sheet the fastest can also devalue their currency the quickest. The worst-case scenario is stagflation, and in that environment, gold heads higher but buying power declines rapidly.

She outlines the risks of throwing money at people who aren't working. There is a spiral of demand destruction that will lead to losses in higher-end jobs, further reducing consumption.

Tensions are building in the United States, and mortgage delinquencies are going to go through the roof. Many of Washington's decisions are due to the elections, and those actions will be tough to reverse. This will likely lead to some form of permanent universal basic income. Americans will naturally be okay with UBI unless presented with an alternate plan such as massive infrastructure spending.

Time Stamp References:
0:00 - Intro
1:15 - Trajectory of debt growth.
2:30 - Fed needing congress to issue stimulus.
5:20 - Countries, debts, currencies, a race to the bottom.
7:20 - Stagflation risks.
9:10 - Demand destruction and high-end jobs.
11:40 - Forebearance and foreclosures.
13:08 - Mortgage lending standards.
14:40 - Home equity and stocks.
15:40 - Overpaying with stimulus.
16:40 - Disposable income is up.
18:00 - Japan after WW2.
20:40 - Deflation will continue.
22:00 - Uncharted territory.

Guest Links:
Twitter: https://twitter.com/DiMartinoBooth
Website and Newsletter: https://quillintelligence.com/

#DanielleDiMartinoBooth #Socialism #UBI #MMT #Stagflation #Inflation #Gold #QuillIntelligence