The Economy Is ABOUT TO CRASH!!! Senator Warren Sounds The Alarm

The Economy Is ABOUT TO CRASH!!! Senator Warren Sounds The Alarm


>>Elizabeth Warren is finally sounding alarms
on what the reality is of our economic situation. And I say finally because we keep hearing
the media regurgitate talking points about how the economy is doing so well. My god, would you look at the GDP? Would you look at how the stock market’s doing? But if you just do it a little bit deeper
dive, you’ll find that the economy’s not doing well. And so in a Medium post, Elizabeth Warren
outlined all of the various issues that our economy is facing today. She says, quote, I see a manufacturing sector
in recession. I see a precarious economy that is built on
debt. Let me just read that part again. I see a precarious economy that is build on
debt, both household debt and corporate debt, and that is vulnerable to shocks. And I see a number of serious shocks on the
horizon that could cause our economy’s shaky foundation to crumble. Finally, someone’s talking about the debt,
finally. And I’m not talking about the national debt,
I’m talking about consumer debt and also corporate debt. This is a huge issue that no one’s been paying
attention to and it’s been driving me nuts, and I’m glad she’s drawing attention to it. She says the student debt load has more than
doubled since the financial crisis. American credit card debt matches its 2008
peak. Auto loan debt is the highest it has ever
been since we started tracking it nearly 20 years ago. And a record 7 million Americans are behind
on their auto loans, many of which have similar abusive characteristics as pre-crash subprime
mortgages. 71 million American adults, more than 30%
of the adults in the country already have debts in collection. Okay, there’s more but come on.>>So, look, look, this is pitch perfect,
so for two different reasons. Just this weekend I had multiple conversations
with progressive leaders. And we all coincidentally were saying look,
somebody’s gotta start saying the economy’s gonna crash, cuz it’s gonna crash. And so if we don’t get out in front of it,
what Trump is gonna do immediately is blame Democrats, now for what? He’s in charge, right? It doesn’t matter, he’s gonna make it up. He’s gonna say, Warren was leading in the
polling, or Sanders was, or was or Biden was, or something. So the markets thought they might, blah, blah,
blah, blah. They thought he might win, and that’s why. It’s not me, it’s not me, it’s not me, right? No, that is why it’s so important for Elizabeth
Warren and others to come out and say, this economy is built to bust, okay? It has been inflated and inflated. The tax cuts further inflated it. All they did was take the stock buybacks. It’s so the markets are artificially inflated,
and the number one driver of that is the debt, so that’s the second part that Anna is referring
to. Also pitch perfect, exactly right. Nomi Prins on this show. Wonderful financial scholar talking about
how the debts that the companies are holding is a time bomb and Elizabeth Warren talks
about twenty five percent of those companies have way too much debt. That’s set to explode.>>Yes, could I give you the excerpt from
her piece->>Yes.>>That talks about that a little bit? She writes, leveraged corporate lending, lending
to companies that are already seriously in debt, has jumped by 40% since Trump took office. Spreading systemic risk throughout our financial
system. These high risk loans now make up a quarter
of all American business loans, and they look a lot like the pre-2008 subprime mortgages:
poorly-underwritten loans with minimal protections that are then packaged and sold to investors. So understand what’s happening there, once
that is settled explode, all of these individuals, average Americans who are enjoying the success
of the stock market today, who have invested their retirement account in the stock market,
they’re gonna feel the pain once this explodes.>>Yeah, so look, guys, this is here real
house, she is great at this. And she is right to have her hair on fire
here, because when the markets crash and the economy crashes. Millions of people lose their jobs. And so she’s right politically because I don’t
want anyone getting a confused later and they will try their hardest to confuse us, as to
whose fault this was. So that is why it’s important to say it ahead
of time and show the reasons why it’s gonna happen. Elizabeth Warren’s done this before she wrote
a book back in 2003, explaining how the subprime loans were going to be a problem. And those mortgages were gonna collapse of
the housing industry was gonna collapse. She nailed that five years ahead of time. No one’s better at this than Elizabeth Warren
is, and she’s right about the scale of the disaster that would come if these things blow
up, and if you don’t change anything they will. The only thing that I’ll add to it, and this
is she shouldn’t need to address it necessarily in this piece. I think she got this exactly right, but they
all have to move on to the next part. How do you solve it? I know she had descriptions in her proposal
for how to solve it, and they’re all wonderful, but the real problem is the corruption. And Elizabeth Warren was the only person to
mention it during the debates, so I loved that. But you gotta dig deeper. It’s not just Republicans. A lot of Democratic senators aid and abet
this.>>Yes.>>And if you don’t have the courage to call
out your colleagues on this, this thing is gonna blow.>>Yeah, that’s a great point, because she
did list solutions, like increasing minimum wage to $15 an hour. Forgiving student loan debt, things that we’ve
heard from her before. But you’re right, I mean what we’re seeing
right now is a symptom of a much larger issue and it is the government corruption so she
definitely should call that out and propose more to actually stop it, mitigate it, you
get the picture. But one other thing I have to add that she
didn’t mention in this piece, and it was a lengthy piece. I’m not trying to be like overly critical,
but non-bank lenders now give out more mortgages, more than 50% of mortgages than the big banks. And the reason why I mention that is because
Don Frank doesn’t regulate the non-bank lenders and so they’re doling out mortgages to people
who just went bankrupt, okay? The whole subprime mortgage crisis is in the
works again, and it’s so frustrating that no one’s paying attention it, so that’s another
thing to pay attention to.>>Yeah, so last two things. I don’t wanna even get it wrong. I’m not saying Elizabeth Warren is not doing
a good job. She’s actually probably the best in the field
right now. But they all need to do a lot more than they
are now because if we’re gonna pass anything, you’re gonna need all the Democrats to vote
yes, whether it’s fixing healthcare or it’s fixing Wall Street. And unfortunately, a lot of the Democrats
are gonna vote no cuz they get that same corporate donation. If you’re worried about being polite to them,
we’re never gonna fix any of this stuff. That goes to the whole field. Now, lastly, on this issue I thought her piece
of medium was again nearly perfect. But I want you to understand she’s not just
doing this because she’s a progressive, it’s actually the correct financial analysis. I’ve heard this from other people that I know
that work on Wall Street, and former Chair of the Federal Reserve Janet Yellen, also
said it. And she’s been warning for several months
now. She said, quote, there has been a huge deterioration
and standards. Covenants have been loosened and leverage
lending. If you don’t know the details of it, guys,
I spent years covering this in the last collapse. Leverage lending is everything that is when
they gamble on the already bad loans, but they gamble at a much higher level. So when it collapses, the collapse is much
larger. So whatever it is, subprime lending in the
case of housing, or in this now, the most likely point of the collapse will be the corporate
debt, but that’s the trigger. The gun is leveraged lending.>>Yes.>>And the former head of the Federal Reserve
is saying, she said, quote, I am worried about the systemic risk associated with these loans. So Elizabeth Warren is not telling you, hey,
I like a progressive society that does this and this, she say something that everyone
should agree to, like we have got to stop this train before it crashes. And anyone with any sense recognizes that,
unfortunately, almost no one else in government has any sense.

100 comments

  1. This Indian has the F—ing balls to talk about debt! When her party has pushed Ommibus Bills in the Trillions of dollas! Then Mich MCConnel spends Billions , Trillions of dollar budges have bankrupted our grandchildren! Pocahontas is full of shit , she i
    Pushed paying off student loans !!

  2. Most of this world is false economy.
    Plant a garden people.
    It will be a valuable asset if & when the shit hits the fan.

  3. 2020 will be the start of economic collapse, every price will go $5 up and people will lose their crap and start stealing and Shit will hit the fan

  4. This channel is so biased. What does Warren plan to DO about it? Just talk about it? Don't blame President Trump for crap that has been manufactured at key dates such as 1913, 1929, 1933. This is a massive global problem that has been brewing for decades. People like Merkel don't see it as a problem. They want central banks to own all the real estate.

  5. This is site of Trump Haters ! Did you hear about how much money this Indian scam. It WAS the Democrates and Mitch MCConnel down and spend ! Thus is pushing bullshit ! They don’t think that National Dept isn’t the most important . These assholes pushing a lier !

  6. Elizabeth Warren will go up against Donald Trump in 2020 say goodbye to Bernie and Biden they're both toast it will be Pocahontas against Trump 2020 mark my words.

  7. ELIZABETH WARREN, A PROFESSOR, HAS BOOKS ON ECONOMics, how to help folks with budgeting. She is brilliant! She will be a contender. This is what she KNOWS! TRUMP SHOULD TAKE HER SERIOUSLY. SHE HAS GREAT INFORMATION IN FINANCE.

  8. Seems like (in this case) you guys don’t know anything beyond regurgitating talking points around the economy. Great entertainment though.

  9. The beginning of severe distress in the economic system is the loss of the EURO. Ezekiel 7: 19 Revelation 18: 17. A shower of Lehman onto the US at this time will negatively impact the US financial system, when WAR has appeared between the US, allies and IRAN. Daniel 8: 20, 23-25. This is like conducting a wedding outdoors in a rainstorm. The beginning of this crisis is when the enriched uranium nuclear assets of Iran are BOMBED; and Israel is declaring: "Peace and security!" Daniel 11: 44, 45 1Thessalonians 5: 2, 3. IRAN will BOMB Israel; and this is the 'sudden destruction' Paul described as part of these events. This is the beginning of multiple consequences.

  10. Toxic tongue trump the demonic demagogue! Fueling Conservatism that is based on bigotry and indoctrination ,treason and tyrannical religiousness. Greedy criminalism .perverts of Kkk and confederacy and nazism plus imperialism and white supremacist ideology. Totally satanic sickos and sellouts!!!

  11. I hope you read this. There are so many people that would love to watch you, but your background constantly moving makes it impossible for millions to watch. Millions of people have medical conditions that are sensitive to this; TBI, PTSD, vision conditions, etc. I love what you are doing! Please keep reporting. (just change the wavy background)

  12. We have some of the same problems now we had in 1927 tariffs, isolationism, a corrupt out of touch government. The economy is so complicated its impossible to predict when it will crash, it could be next month 10 years from now but a crash is coming. Every time the yield curve inverts the economy crashes. The yield curve has inverted so a recession is inevitable but we have a more robust economy than we did in 1927 and if we start addressing these issues the crash won't be as bad.

  13. Obama never fixed the economy in 2008. He kicked the can down the road by using quantitative easing and bailouts to put a bandaid on a arterial bleed. Now the chickens have come back to roost so let's blame Trump for this.

  14. Here in South Florida,the housing market is exploding!!! There are at least ten new developments going up,within a fifteen mile radius of my home.Plumbers,electrician & bricklayers etc.,are flourishing.I am a property manager and I work 60 hours a week,and my bosses would have me work more,If I were a masochist.The rich folks here in Palm Beach,are not slowing down.🤔🤔🤔

  15. When the crash comes and it will, it will not be the fault of Trump or Obama or Bush or even Clinton. It goes way back to the Reagan years and selling the lies that pure capitalism will benefit everyone. Never was the case and never will be the case. Pure capitalism does exactly what we see today, create massive winners while allowing the majority to become big losers We need a system that works the best for the most people and that is not pure capitalism.

  16. Aaaaaaaahahahahaha Trump's fault my ass it was slowly crashing since bush Obama stamped it now it's up to Trump to fix it.

  17. Idk, im sitting at the controls of a tower crane building a vacation resort. Ill worry over the ecomomy on my lunch break, maybe, but i might decide to get a quick nap instead.. 80 hour work weeks get a little grueling year after year.

  18. Lol even if the economy does down a dumbass liberal trying to give everything away for free def aint the one you wanna elect for president

  19. this one is one of the ones that pushed for these non-regulated loans to happen to the poor people could get home loans now that it's happened she's bitching that we never should have done it which side are you on Elizabeth God bless President Donald J Trump and blue lives matter in maga make America great again stop the home has stopped the lesbians stop all the American people from doing what they've done this couple here well you know he's a homo and she's virgining on being a lesbian

  20. if you wait long enough everyone is right I believe apophis is going to hit us in 10 years that's the big meteor that's heading our way it's going to be just a few miles above the Earth what do you think I'll certainly be right long before it was before never will be in Elizabeth Warren's got a great deal going on member she got a Harvard scholarship because she was an American Indian on the DNA test so that she's got no American Indian in it shouldn't have to repay all those student debts that she racked up instead of getting it off for free that's why we call her Pocahontas mag a God bless President Donald J Trump and blue Ives matter instead of blue eyes yes neither one of these couple have blue eyes

  21. "Leveraged corporate lending" are awful big words for these two idiots, especially since they don't understand it's use. We have extremely low inflation – which is the best time for companies to borrow to then grow their companies. If recession occurs it won't be because of earnings or yields, it will be because of fear-mongering leftists wanting the economy to recede in time for 2020 elections. The bottom will be high and companies will be positioned with low interest loans to move ahead. Entrepreneurialism requires risk taking. These idiots want a socialist world where they are cared for. Investing and working for a living scare them.

  22. Elizabeth Warren a Democrat select collapse economy in 07 forcing Banks to give loans to people who aren't qualified for the lens didn't you know that and the next crash will happen just as soon as the Democrat becomes president because nobody wants to see them around God bless President Donald J Trump and blue lives matter and make America great again Maga

  23. Funny this coming from someone who take money from corporate America. 🖕🏽🖕🏽🖕🏽🖕🏽🖕🏽 Warren DNC PUPPET

  24. This is Why We Must Vote Out All these Republican Traitors Out of Washington this Upcoming Presidential Elections because They are Killing this Country with Their Neo Nazis Evangelical Christians Fascist Supporters!

  25. Well informed and highly educated, progressive Professor Warren is the hope for the political, social, economic, and ethical revival of America and the World! The racist, sexist, ignorant SOB in the White House continues to defecate in the Oval Office with his smelly bunch of white supremacist RepubliKKKlans!!!

  26. Listen to these people at tyt Convinced me that they have no clue how economics work. America has always been built by debt. The only reason anybody should consider an economy crash coming is when unemployment starts going up. The unemployment rate is at its lowest in years. Stop the fear mongering

  27. They have described 2008 recession that happened under Obama.
    What caused that recession is when a lot people(with loans) started to lose jobs (under obama).
    That caused a dominos effect in the financial sector.
    Right now the country is bring back jobs. So more Loans are being taking out. The only reason we time should be talking about recession again Is if people are going to be losing jobs again. BUT WE ARe NOT!!. It’s mongering people!!!! Don’t be mislead by these far left people.

  28. Warren is a brilliant and well-intentioned policy wonk, but only Bernie Sanders has the political heft, track record, and commitment to kick down the door of the neoliberal machine so that any real change becomes possible.

  29. Michael Norman who is allot smarter than Elizabeth Warren who studies and knows all about fiscal flows MMT and the economy says no recession coming
    He’s traded on all the stock exchanges for years had his own show and is rich
    Elizabeth Warren knows nothing
    She doesn’t even know what race she is

  30. Warren said she will take corporate donations in the general election if she is the nominee. Warren will sell you out to big corporations.

  31. Ask the farmers how Trump helped them. Ask Black Jewel coal miners how they were locked out of work and find out their last check bounced. Look at all the store closings. Trump’s tariffs are destroying our economy. Expect 30% or higher unemployment. There won’t be soup kitchens to feed you. There was a $1.5 trillion tax cut for the 1%. That added $2 trillion to the national debt. Trump will destroy our country from within.

  32. Let me say this to all, from Trump to White Trash: A loan is not income.
    Let me repeat that for those who can only read CAPS:

    A LOAN IS NOT INCOME.

    There, I`ve said it. But I doubt that anybody was listening.

  33. Uh the primary cause of personal debt isn’t trumpie, it’s Americans buying copious amounts of stuff they can’t afford. Stop trying to keep up with the Joneses with your financed Acuras and Lexuses.. stop ordering nonessential crap from China on Amazon and most Americans would be just fine.

  34. News flash, several people have been saying this for 6 months, or more ,what! you guys been hiding under a rock, its not just us this is world wide.

  35. The solution is to let it all crash and burn……
    Then we abolish the Federal Reserve Bank.
    Then we bring back a Gold Standard.
    Then we abolish the “Minimum Wage” Socialist crap.
    Then we abolish the K-12 Indoctrination Camps.
    Then we abolish the multi-billion dollar Prison Industrial Complex.
    Then we bring back Public Hangings (starting with today’s anti-2nd A Politicians).

  36. Since you posted this video, the market is way up. People probably pulled out of market because of what you said
    They are now out millions..I hope u get sued

  37. Glad they're pointing out the facts but Elizabeth Warren has been a part of the problem not the solution

    Bernie is a much better candidate

  38. Economy has been fake for decades, leftists if anything ruined the country domestically, failed health care, open borders, supporting illegals, etc…..Right wing and their failed foreign wars deserve the blame for that side of it.

  39. US economy been heading for fall for a long time — just a matter of when it crashes – no one particular administration to blame… it’ll be sooner than later and the worse of it is that the USA will take much of the world with it… hey is why there’s a ouch for a war … wars are known to be favourable/good for economy. It’s All so crazy isn’t it! ?

  40. Finally someone other then my Econ professors talking about the crash and debt! They have y’all beat by a yr and a half, but I’m glad it’s being talked about. ITS SOMETHING THAT NEEDS TO BE DISCUSSED ON DEBATES

  41. I get pre-approved for ridiculous amounts of loans from not so big banks. And what’s crazy is I’m still a university student working part time (full time over summer&winter) to keep my student loan debt under 10k. Hell no I don’t wanna take out $100,000. Stop trying to trap me in your greedy cycle smh

  42. But Elizabeth Warren isn't doing bad trades been so good to her because she's been hedging bets against the US economy she's trying to bring the economy down that's for the election and her own personal wealth in her pocket it's two ways to invest Pro American for anti-American let's face Elizabeth Warren Malaysia committed a bunch of crimes she's also done something very bad it's not illegal she's constantly invested against America Pro China Pro Japan and don't forget we need to start a trade war on Japan II God bless President Donald J Trump and blue lives matter

  43. Send CENK back to Turkey. He brought us AOC, Omar, Tlaib and 4 others. His Justice Democrats kicked him out because he is a sexual predator.

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