Why Everything You Buy Feels So Much More Expensive

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Everyone keeps waiting for the “debt bomb” to go off—but what if it already did?
In this episode:

• Why rising debt didn’t cause a big bang, but a slow burn that’s quietly crushing the middle class
• The real reason salaries haven’t kept up and why families need two incomes just to survive
• Interest payments on our debt have passed $1 TRILLION per year, but Washington refuses to cut a dime

Learn why everyone from Jamie Dimon to Ray Dalio is sounding the alarm! www.watchdogonwallstreet.com

Episode Transcript

Speaker 1 (00:00):
The Watchdog on Wall Street podcast explaining the news coming
out of the complex worlds of finance, economics, and politics
and the impact it will have on everyday Americans. Author,
investment banker, consumer advocate, analyst, and trader Chris Markowski.

Speaker 2 (00:16):
Dealing with the debt bomb. I know I've been talking
about this for a long time, Ay Markowski, Chicken Little
even talking about the problems with debt for years, decades.
Here we're still here. Nothing's blown up, or has it.
Why is this important? Well again, you can go back
and go back. You go back to early nineteen seventies.

(00:37):
There was an article that featured Uncle Sam with his
pockets turned inside out nineteen seventy two. Nineteen seventy two,
sounding the alarm about America going broke, Journal writes a
piece today says sounding the alarm about a debt crisis
has been great for companies shilling gold coins and fishy

(00:58):
financial products, but has made smart, sincere people look silly
when nothing happened. Financial markets equivalent of why two K. No, guys, no, no,
nothing happened with why two K? I get that, okay,
but don't tell me nothing has happened with our fiscal situation.

(01:23):
It has you take a look at the cost of
living here in the United States. Have have you taken
a look at what has happened to I was just
thinking about this as far as families are concerned, the
fact that now it's almost a commonplace both parents working.

(01:43):
That wasn't always the case. Why is it that salaries
haven't gone anywhere? Well, that's because of a debt bomb.
So when people think of debt bomb, I think big explosion.
Oh my god, the country going down, it's gonna be
a disaster. Maybe not, Maybe it's maybe it's a different

(02:07):
type of bomb. So bomb that's been going off, and
I guess it just hits people little by little. Yeah,
I give that comparison before theyways talk about, you know,
putting a frog in a uh, you know, a pot
of water and slowly but surely turning the heat up

(02:28):
till it dies. Doesn't know to get out anyway. Why
why are all sorts of people now all of a sudden,
you know, financial guys getting worried about this, and they're
saying the math is getting daunting, with interest rate on
the debt blowing past one trillion annually in Washington, acting recklessly,
even people who have issued past warnings, deserve a second

(02:49):
or third or fourth hearing. Hedge fund manager Ray Dallio.
And he's selling a book. You know how countries go broke. Again,
he doesn't need royalties from a book. He's doing quite well,
you know, and he's he's given us a few years
to deal with this. Peter orzag wrot a peace in

(03:12):
the New York Times again. We talked about it here
on the podcast. I even admitted, oh, well, you know,
I wasn't showing sure about this that thing when I
was in charge of OMB. And I'm like, really, you're
in charge of OMB and you're not considered about, you know,
making the numbers actually work. And I would go on
and on down list Jamie Diamond, this is not a

(03:37):
situation we can continue to have. And when you when
you have various different Republicans come out and say, oh,
it's the CBO. They're just not nice, they're not they're
not giving us are fair ado when it comes to growth,
how about this, how about this? How about this? How
about we we say this, how about we say, you

(03:58):
know what, you're right, You're right to see they're wrong.
They're not taking growth into consideration. And you know what,
We'll just go with their numbers. We'll be conservative, We'll
be truly conservative. And guess what, when all of this
extra money comes in, you know what, We'll apply it
to our national debt and we'll knock our debt down.

(04:18):
How about that? Oh, you can't make any cuts anywhere,
you can't find anything. President of the United States comes
out today hammering Ran Paul Ah right. People in Kentucky
hate him. Yeah, just like they hate Thomas Massey too.
Ah loser, Yeah, okay, right ah, not offering any solutions.

(04:39):
He's offering plenty of solutions. We've all offered azillion solutions,
mister President, in regards to where you need to cut,
You're just unwilling to do it. You're unwilling to make
those difficult choices that need to be made. Hands off Medicaid?
Are you out of your mind? Did you guys have
any idea how much medicaid expenditures have gone up since COVID?

(05:04):
Oh yeah, yeah, yeah yeah. I put it up the
chart here somewhere began I'll find it. It's some ridiculous
and I'm like close to three hundred billion dollars, close
to three hundred billion dollars. It was that. I mean,
you're talking like six hundred billion to closer nine hundred
billion in just a few years, and you're telling me

(05:25):
that something's not wrong here. But well, our nation's gotten
that poor. Nobody can handle health care. Healthcare expenditures have
gotten that high. I'll give me a break. Okay. Sometimes,
at some point in time, we need the adults to
step up and actually do what is necessary. That's what
true leadership is. Toue leadership is not telling people and

(05:46):
giving people exactly what they want. It's doing what needs
to be done. Watchdog on Wall Street dot com