Best of the Program | Guests: Justin Haskins & Carol Roth | 5/28/24
May 28, 2024
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Authors Justin Haskins and Carol Roth discuss the dangers of new European laws impacting American companies, including mandatory ESG systems. They also highlight the risks of Biden's housing regulators teaming up with Fannie Mae and Freddie Mac.
The new European law poses a major threat to freedom and requires action from Congress and the president.
Biden's housing regulators collaborating with Fannie Mae and Freddie Mac poses dangers and implications for American companies.
Deep dives
Discussion on Freddie Mac and Fannie Mae's Expanding Market
Freddie Mac proposed offering second mortgages, enabling people to tap into home equity. Taking out consumer loans against home equity could lead to increased consumer spending, impacting inflation. The rushed policy implementation without a proper comment period raises concerns about its implications and financial risks. The potential expansion of this market could involve securitizing these loans, similar to the practices that triggered the financial crisis.
Impact of Policy on Economy and Dollar Value
Unlocking two to five trillion dollars from homes could stimulate the economy and artificially inflate GDP. However, this theoretical increase in spending may devalue the dollar and purchasing power, especially amid existing inflation concerns. The move to boost consumer lending, backed by taxpayers, could result in immediate economic benefits but long-term financial unpredictability.
Connection Between Stimulus Measures and Political Agenda
There's a cyclic trend where consumer stimuluses and policy decisions artificially uplift economy metrics to serve political interests. The strategy to unveil locked home equity for spending aims to portray a prosperous consumer image, masking the underlying financial risks and implications on individual wealth. This approach could devalue labor and disrupt wealth stability while offering short-term economic boosts.
Insight into Strategic Political Maneuvers and Impact on Individuals
The combination of consumer stimulus measures, financial policies, and economic strategies aligns with a broader political agenda. Utilizing home equity to boost immediate spending and induce apparent economic growth serves political motives but may undermine long-term financial stability. Understanding the interconnectedness of stimulus measures, political agendas, and economic repercussions is crucial for individuals navigating these complex financial landscapes.
A new European law, which goes into effect in 2027, is "the biggest threat to freedom," according to Glenn unless Congress and the president act against it. Author of "You Will Own Nothing" Carol Roth joins to discuss the dangers of Biden's housing regulators teaming up with Fannie Mae and Freddie Mac. "The Great Reset" co-author Justin Haskins joins to discuss the EU passing a mandatory ESG system that American companies will be forced to comply with.