Comments by "Bill Petersen" (@billpetersen298) on "Uneducated Economist" channel.

  1. Expectations are huge. My kids, have almost no living expenses. Yet they can’t save any money. Getting order in food, Starbucks, lots of daily things, that are luxuries. My wife and I have been to 20-30 countries. Yet she complains, that we don’t travel. I am most grateful, to have a warm dry bed to sleep in, and food in my belly. The expectation of privilege, ruins a society.
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  2. So on point. At 61, I’m hearing about old friends, having serious medical issues. The last 40-45 years, I’ve had my head down, working all the time. I quit 2/3 of the folks, I worked for. Called these old guys, and said, make me a list, of what needs fixing. I’m coming over. Best decision, I’ve made for a long time. It rekindled, old friendships, and feels great. After the bad fires this year. We are now having, horrendous flooding, in BC. I met some people who, have been off their farm for three weeks. The minute they can get back on there. I’m dropping everything, to head out to help. Way better, than working for rich people. Who complain about spending anything, on their rentals. So what, if I slowly burn through my savings. We don’t know, how many good years, we have left.
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  3. Buying quality is smart. When you’ve bought a Chinese product three times. You could have enjoyed a quality one, the whole time. With less, trash.
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  4. I’m in Vancouver, I’m a maintenance man, for 14 apartment buildings. They are all Chinese owned. The regulations, don’t mean anything. They get citizenship here, and keep buying. Or through a relative.
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  5.  @wesleyhurd3574  That’s my take on it. Small retailers, get hit hard, by the credit card companies. It’s like the insurance companies, sucking up the health care dollars.
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  6. Guilty. I always buy extra. Now my garage is so full, I can’t find half of it. You do make a good point.
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  7. Return of capital, is way more important than, %1-2 on your capital. Sit on PM’s, and watch.
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  8.  @hamzamalik9705  This is how China plays the game. It's people get the contracts, so the money never gets back to the borrower. Resulting in default, and a signing over of critical assets. A quiet, no shots fired, invasion.
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  9. My concern, is that we transact, and hold our wealth, in an electronic form. If China, or a solar flare, wipe all the computers…. Having most of my net worth, in the bank, or brokerage. Gives me the willies. One day soon, I won’t be able to work. Holding more than a little gold, and cash. They call you a criminal. (Don’t start on crypto, it’s an electronic ledger)
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  10. GDP, is a stupid measure. It measures all activity. Not, all “productive” activity. Same as the employment rate, without participation rate.
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  11. Hey, it’s the CCP flu!! Be fair, we can say, Brazilian variant.
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  12. Too funny, I was telling my wife about yurtle the turtle, last week.
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  13. Great, so what other Chinese products, are routed through Vietnam. I’m trying to avoid financing the Chinese military.
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  14. An interesting case study, indeed. As they are going off the rails. They are ramping up, an arms race. Telling their people, to get ready for war. Always, the great distraction, and blame the west,
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  15. I was waiting for the twist. If China blinks, and covers their corporate debts. It all reverses. (Economic collapse, means regime change) Regime change, is definitely a good thing, for world peace. But not likely to happen.
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  16. All my families cars, are 25yr and older Volvos. Yesterday we went up a very steep back road. To get to a mountain hike. With sign’s saying, 4x4’s only. If an old volvo wagon can’t get there, get a donkey. (I paid $450 for this one, 5 years ago)
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  17. Digital currency, and negative interest rates, forces spending.
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  18. In 2012, I was in Beijing, visiting the in-laws. Back then, I thought their real estate, was crazy expensive. It was on the outskirts of the city. Even though it was new, it was poorly built. Materials are cheaper, labour is way cheaper. Incomes are a fraction of in the west. Yet it cost the same, as in overpriced Vancouver, at the time. House of cards.
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  19. This is going to hurt bad in China. Right now, they are going through a Mao 2.0 agricultural revolution. Of cutting down fruit trees, and plowing under mixed use fields. To grow grains, where it isn’t best use. Combine absolute power, idiocracy, and input shortages, while the economy is failing, what do you get? Uprising of the peasant class. Reason to start a kinetic war.
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  20. This has been building, for decades. It’s like a game of musical chairs. Whoever is in power, when the music stops, is guilty.
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  21. And China is hoarding gold. We have to get smart.
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  22. The really big outfits, likely do.
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  23.  @BowTiedWhiteOwl  Hopefully not made in China. They are clear cutting African forests, for furniture wood. You don’t want to support the military arms race, either. I hope.
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  24. Buying cars and consumable things on credit. Starts the average person, going backwards.
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  25.  @theonewhoknocks2835  Exactly. There are lots of poor people around the world. Who will do anything to feed their kids. We don’t know what it’s like. And at present, don’t have to. As long as we vote for people who, are against mass surveillance, and corporate bribery. We’re ok.
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  26. @CoeusQuantitative I'm not sure what you are referring to. We are in our sixties. She doesn't know the story. We were talking about someone who thinks, they are really important, and climbs on the backs of others.
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  27. Canada has lots of, landlocked oil.
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  28.  @Serahpin  yup, I hear you, loud and clear. Same here in Canada. We’re in the same boat. So, how do we, protect our families, community?
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  29. What burns my butt. Is they are heavily invested, in a country, that is at war with us.
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  30. It depends what time frame you are measuring against. As a historical average. For decades, mortgage rates, were in the teens.
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  31. Did you say! “Cash, in the bank”? That’s a contradiction. It’s all an electronic entry. If China, or a solar flare, wipes the computers. Where is your cash now? And your equities. I’m at a loss, of where to keep my wealth safe. Holding very much gold, and cash. They call you a criminal. (Don’t start on crypto, it’s electronic too)
    1
  32. When interest rates, start to go up, more than a little. If it, starts to reflect real risk, and fear. The speed, and level will be shocking. Here in Canada, when Quebec had a separation referendum, in 94, or 96. Our mortgage was up for renewal, two weeks before the vote. We locked in at, %15 and %18, for a five year, and a three year term. An experience like that, can make you very afraid, of debt.
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  33. Instead of tariffs, on your allies products. Put them on Chinese products. The money they get, is going into an arms buildup.
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  34. Whoever is saying, buy China!!! Ray Dalio, for sure. (Don’t worry, if it’s going into their military). Remember in the mid 1930’s. All the big corporations, were invested in Germany.
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  35. How big, is the collateral loan obligation market? It sounds like 2008, all over again.
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  36. Gotta love those border duties. For putting the boots, to the forest workers.
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  37.  @acmejetpack2752  Check out, Serpentza, Laowhy86, NTD news, China uncensored, pass it on.
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  38. When has it ever been different? Secure housing, is so foundational. To being able to apply yourself, to the other needs. Create community, around you. Be the best, you can be.
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  39. Help, would be less tariffs. When, we don’t work together. China will take full advantage.
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  40. It’s more fun, to run around in circles, yelling conspiracy.
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  41. When you say free labour. Do you mean, forced labour, as in Xinjiang?
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