David Friedberg
speaker
8,052 appearances
60 recordings
4 series
first heard Apr 2024
last heard 21 Aug
David Friedberg’s voice in public audio — every appearance, attributed to the second.
Trend
recordings per month · last 12 monthsRecordings per month over the last 12 months — 32 in all, peaking in Jan 2026 with 6.
Appearances
Yeah, so people talk about the market going up, but I'll use an analogy.
If you live on an island and there's two huts on the island and there's a bunch of shells that people are using for trade, each house is going to be worth a certain number of shells.
And then if people went and found a whole bunch of more shells, the price per house would go up in number of shells.
But there's just more shells in the supply and effectively you've inflated everything.
And that's effectively what's gone on with the US fiscal condition.
We've talked about this many times, but I think it's always worth a rehash.
In a democracy like we have for the past 250 years, without adequate constitutional constraints, it has always been the case that over time spending goes up, 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.
And you use that fundamentally to drive the next voting cycle, which is to give people more and more of what they want.
But eventually the bill comes to you.
And in the United States, the bill is coming to you.
Let's start by looking at the money supply chart.
This is the M2 money supply chart, showing the rapid rise in dollars in supply as a function of
the Central Bank of the United States, the Federal Reserve, making loans to banks, ultimately to fund federal spending.
I mean, really an extraordinary number.
And if you look at the M2 money supply chart, going back to 1960, 1955, and you can see post-COVID, we were hoping that we would have resolved and sort of reduced the money supply
Showing 3121–3140 of 8,052 · page 157 of 403
← Previous
Next →