Digital Social Hour
Wall Street Veteran Reveals: The $1T Debt Crisis You Can't Ignore | Ross Mandell DSH #982
15 Dec 2024
Wall Street veteran Ross Mandell reveals the shocking $1T debt crisis that's about to impact every American. From his days as a power player in the 1980s Wall Street boom to his current role as a financial educator, Ross shares explosive insights about our economy's future. Discover why this legendary trader is completely out of stocks right now and what he predicts is coming next for the US economy. Learn about the staggering $35T national debt, the truth about inflation, and why the interest payments alone could devastate our economy. Get an insider's perspective on: - Why the traditional financial system is at breaking point - The real story behind Wall Street's transformation - How smart money is positioning for the coming crisis - Cryptocurrency's role in the future of finance Ross Mandell breaks down complex financial concepts into actionable insights, drawing from decades of experience in the trenches of Wall Street. Whether you're an investor, entrepreneur, or concerned citizen, this conversation reveals critical information about protecting your wealth in uncertain times. Watch now for an unfiltered look at the biggest financial threat facing America today. This eye-opening discussion could change how you think about money, investing, and the future of our economy. #WallStreet #Finance #Investing #Economics #DebtCrisis #Cryptocurrency #DigitalSocialHour #SeanKelly #crypto #bitcoin #federalreserve #stocks #daytrading #makemoneyonline #jeromepowell #howtomakemoneyonline #financialeducation #financialliteracymastery CHAPTERS: 00:00 - Intro 00:28 - Ross Mandell Joins - Interview, Insights, Background 03:15 - Ross Mandell’s Wealth Formula - Financial Strategies, Investment Tips 06:37 - Ross Mandell’s Humble Beginnings - Personal Journey, Overcoming Challenges 13:06 - What if Trump Wins - Political Impact, Economic Predictions 16:28 - The Dollar is Toast - Currency Decline, Economic Analysis 17:50 - The Market is Going to Crash - Market Predictions, Financial Risks 18:43 - Ross’s New Media Business - Entrepreneurship, Media Ventures 20:40 - Ross’s Thoughts on the Stock Market - Stock Analysis, Investment Opinions 22:10 - How Real Wealth is Created - Wealth Building, Financial Education 25:40 - Ross’s Transition to an Educator - Career Change, Teaching Insights 31:50 - Aging - Aging Process, Health Perspectives 35:40 - Inflation - Economic Trends, Cost of Living 36:54 - How to Find Ross - Contact Information, Online Presence 37:24 - Wealth Formula Next Week - Upcoming Content, Financial Education APPLY TO BE ON THE PODCAST: https://www.digitalsocialhour.com/application BUSINESS INQUIRIES/SPONSORS: [email protected] GUEST: Ross Mandell https://www.instagram.com/rossmandell/ https://training.rossmandell.com/ LISTEN ON: Apple Podcasts: https://podcasts.apple.com/us/podcast/digital-social-hour/id1676846015 Spotify: https://open.spotify.com/show/5Jn7LXarRlI8Hc0GtTn759 Sean Kelly Instagram: https://www.instagram.com/seanmikekelly/
Full Episode
Coming up in the 80s on Wall Street, it was like a big thing. What was so crazy about the 80s? Prior to about 1980, you couldn't cold call. You couldn't sell securities over the telephone. So all of a sudden, a bunch of very aggressive young guys, you know what? I don't want to wait for clients to walk in. They came up with this whole plan.
They went to the FTC, the Federal Trade Commission, and all of a sudden, Wall Street was introduced to Main Street. All right, guys, got a legend here today, Ross Mandel. What a crazy first-time meeting. You knew the previous guest's father. Isn't that crazy?
Small world. It's a small world. It's a shock. She was a very good-looking woman. I just thought she was somebody else, and I went there to say hey. And she says, Annabella Rockwell. A shout-out to Thorson Rockwell. Worked for me in the stock market years ago, so that's pretty cool. Yeah, you said you've employed over 100,000 people?
Well, I wouldn't say 100,000 people, but thousands and thousands, yes. Thousands and thousands of stockbrokers I worked with, or they worked for me, or we worked together and all that stuff. Wow. Yeah, coming up in the 80s on Wall Street, it was like a big thing. And people say, why? What was so crazy about the 80s? Well, prior to about 1980...
You couldn't cold call, something that everybody's so used to, the phone ringing, hanging up on people, telemarketing, all that. But prior to the 80s, you couldn't sell securities over the telephone. So all of a sudden, a bunch of very aggressive young guys sitting in Lehman Brothers on 55 water said, you know what? I don't want to wait for clients to walk in. They came up with this whole plan.
They went to the FTC, the Federal Trade Commission, and they got permission and approvals through corporate, through their firm and all that, to co-call securities, telemarket securities. And all of a sudden, Wall Street was introduced to Main Street for the first time in history. And it's created a whole bunch of growth. And that's why when they talk about
the bull market of the 80s, this is what blew it up because prior to that, you know, you had to be a wealthy guy or an institution and you would make an appointment to see your financial advisor. Yeah.
And you come down to lower Manhattan or Chicago or LA and you'd go up into this ivory tower. And you'd sit down, you'd make an appointment, and you'd lay out all your stuff. All of a sudden, you got a bunch of very young, hungry guys calling you in your house, calling you in your business, calling you, you know, everywhere. Yep. And so that's what really caused the markets to blow up. 1,200.
Okay? Yeah. It took four or five years just to get to 2,000. That was a huge, huge deal. Today, the market went down over 1,000 points today. Talking about inflation. What? I mean, that's a crazy story if you think about it. You know, it's come full circle. I mean, all of a sudden, I used to be the young, crazy, the crazy, young, wild stockbroker.
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