Feb 7, 2024
Schaftlein Report
Airdate:
Tuesday, February 6, 2924
Guest - David Brat
Title: Vice-Provost for Engagement & PR, Liberty University
Headline - Debt, Taxes and Economic Cracks?
1) Consumers owe Credit card companies $1.05T. The U.S.
government is $34T in Debt.
Are we headed for a 'Death Spiral'? What causes a break?
2) Certain voices are calling for tax increases (former Treasury
Sec. Robert Rubin).
What about actual spending CUTS? With divided government in
an election year, neither spending cuts or tax increases are even
on the table.
Vermont is considering a Wealth Tax.
3) S & P 500 at record high with certain technology stocks
maintaining sky high price to earnings multiples.
On the day record high was achieved, more stocks were in the red
than in the green. 1987 was the last time that happened.
We'll analyze.
3a) Are $2T government deficits contributing to the stock
valuations?
4) Overall price levels remain high with no sign of reduction.
CPI at 3% but car insurance is up 26%. Middle income and low
income consumers are getting crushed.
Rents have also remained high. Gas prices have come down, but
will a wider middle east conflict cause them to go up?
Politics at play?
5) Trump leading Biden by 5 points in latest NBC poll but way upon
the economy and border security, which are the top 2 issues.
6) $118B Border, Ukraine, Israel aid bill in big trouble.
YouTube:
https://youtu.be/fFwPd_4DZeQ
Rumble:
https://rumble.com/v4buatf-schaftlein-guest-dave-bratt-headline-debt-taxes-and-economic-cracks..html