You think about what makes this country Special what makes this country the Greatest nation in history it's a simple Concept parents make sacrifices for Their children so that when they grow up They can have life better than they did And each generation in America has done That for the succeeding one when you Start to turn it around and live for the Moment and spend for the moment and live For the now and spend for the now that Is a terrible sign a terrible sign Indeed and that warning was from 2009 and yet the government debt has Absolutely exploded and has enslaved Americans into debt poverty and that's Really no way to live life you guys and Think about it in certain Metro areas Making $250,000 is just minimum wage and so Today we'll ask the question and answer The question just how much debt is the US government in just how bad is the Government spending how much are we Paying back in interest and then we'll Ask the question how is this impacting Our households As Americans and I have Our community expert Mitch vexler here To help break it down Mitch sir I heard You had a special meeting today I it was Pretty good it was an hour and a half Long with a State Rep who was horrified As to what she learned but um in an hour And a half basically we took 20 pounds
Of potatoes and stuck it in a half pound Bag so it flew and uh it's kind of like Drinking water from a fire hose but it It it was a good meeting she understands The depth of the problem um and it is Worse than because I you can't get all The way through all this in an hour and A half obviously it's taking us through These videos several hours to lay it all Out but it was good good got to hear it Man well I'm gonna jump right into uh This video and I want to start Mitch uh And I'm hoping to give you some curve Balls you're probably still going to hit Home runs but take a look at this we're In 35.1 trillion with a T in debt and That's actually probably uh you know not Even accurate probably much more than That but that's again just with the Reporting 35.1 trillion government Deficit over the last 100 years it's Interesting to note it changed Drastically uh mid-40s you guys see it Just jumped up went down and really Plateaued for man what looks like 40 Years and all of a sudden just unhinged Absolutely unhinged uh as we make our Way into the GFC unhinged the lockdowns Unhinged again you guys what I wanted to Show you here is the trajectory of debt As far as how much we've spent this year The government has spent and this is not How much they've received but they've Spent 5.6
Trillion just for the fiscal year ending In October the deficit so they're adding This deficit to the debt so far $1.51 Trillion in debt Mitch and you know take Your time explaining this if you want is America enslaved in Debt yes and it's worse than what you Just showed because what you showed was The what they call the national debt but That is not the federal fiscal burden The federal fiscal burden as far as we Know is right now today is about 142 Trillion the US government is claiming The total assets of the United States is 152 trillion we showed that on a video Couple back well that means that the Assets to Liabilities are almost neck and neck at This point and that 93% of America's wealth is in fact now Debt Burdened and it just keeps going Downhill and downhill from there so the Straight answer your question is Yes Except that it's worse obviously we're Going over one set of data that says 35 Trillion but you know can You right right yeah can you explain What you're adding to get you know the The higher number the 100 you know 142 Trillion is that a lot of you know the Unfunded liabilities Social Security Pensions uh things you know fill the Gap
Explain to the viewers what's missing From that 35 Everything because the reality of it is That those unfunded liabilities are Triple up from what you're seeing and There in lies the problem I mean they Want to create a narrative that things Are Rosy but when you use the math and You understand like that you showed the One chart of the debt rocketing up some From the 1940s well that's a straight up MTH right I told you that the rule of 72 Means at give or take assuming a 10% Interest rate that you're going to Double your debt every five years and in Fact that's really what's happening or Every seven years depending on on the Monking around by the interest rate so The idea that that chart well it's Horrible from the 1940s and it just Rockets up well yeah but that's the rule Of 72 just how the math plays out and We've got spreadsheets you can just plug In the interest rate and it'll take it Across and say okay fine so if the debt Runs to if the interest rate runs to 10% Or 12% then the timeline of that debt Increasing every seven years happens Faster so it'll drop down to five years Four and a half years the higher the Interest rate and what you're seeing is The cumulative compounding effect of Non-payment and reduction of
Principle so what you've seen in the Bonds recently at the school districts Is we did the research on it in the last Three years we couldn't find a school District that retired its bonds well Bonds come du every three and five 5 Years so what are they doing well the Best way I can describe it is they're Rolling out and they're rolling up they Roll up the principal they roll out the Timeline and then they roll up the Interest payments because it's Cumulative they didn't pay it off the Interest payments keep going now here's Where it gets really wonky so if if the Bank or I'm sorry if the school district Four years ago had 2% money the cost of That money today is 8 and a half% You're 400% up in your interest costs if You roll up and you roll out and you Didn't reduce your debt what did you do Cumulative compounding there's no way Around it that's why the rule of seven Is etched in Stone speaking of uh well just to Reiterate so we're you know in somewhere In the debt range of 35 trillion to Maybe it's not even true it's it's it's 140 and it's a government's only right So right you know 35 142 you know who's Who's who's looking under the hood Mitch You know you know what's a few trillion Here or there I mean geez Louise I mean But it is scary and speaking of interest
Payments let's move on to the spending Habits now and and let's talk if they Are paying down debt are they paying Down principal or are they barely you Know well I'll show you guys but before I do that Mitch I want to get uh you Know I want to set up the viewers I want Us to listen to Ben bernachi uh in 2011 sounding the alarm on what's going On right now and I want to get your Reaction as the economy continues to Expand and stimulus policies are phased Out the budget deficit should narrow Over the next few Years unfortunately even after economic Conditions have returned to normal the Nation faces faces a sizable structural Budget Gap both the Congressional budget Office and the committee for a Responsible federal budget project that The budget deficit will be almost 5% of GDP in fiscal year 2015 assuming that current budget Policies are extended and the economy is At that point close to Full Employment of even greater concern Though is the longer run projections That extrapolate current policies and Make plausible assumptions about the Future evolution of the economy which Show the structural budget Gap Increasing significantly further over Time for example under the alternative Fiscal scenario developed by the CBO
Which assumes most current policies are Extended the deficit is projected to be About 6 and a Half in 2020 and almost 133% of GDP in 2030 the ratio of outstanding federal Debt to GDP expected to be about 69% at The end of this fiscal year would under That scenario rise to 87% in 2020 and 146% in 2030 One reason the debt is projected to Increase so quickly is that the larger The debt outstanding the greater the Budgetary cost of making the required Interest payments this Dynamic is Clearly unsustainable he was warning the Viewers of that video that it the Potential for as you see here percentage Of debt to GDP he was warning in 2020 it Could be six and a Half 2020 was actually 14.69% it was a Little off there I want to go into you Know I want to go into the charts show The deficit spending the mortgage back Securities how much money is going Towards interest payments but do do you Have an initial Reaction on that video Mitch that Statement the entire presentation that He made is the ultimate definition of Speaking out of both sides of your mouth On one hand he says well but the deficit Should be coming down and two seconds Later he's explaining how the deficits Are going to balloon out of sight well
The reality of it is as I said the rule Of 72 an idiot should have known that Way back in 1950 right this these people are paid to Know this he clearly doesn't understand And or he does understand and is just Trying to keep the fraud going but That's why we're at the Tipping Point Now right when when you've got 142 Trillion including unfunded liabilities And their known Numbers well how can you possibly say That oh well we didn't know back then Right because because the rule of 72 Allows you to project forward that's Exactly what it does and if you don't Pay off the debts then the debts because It's compounding cumulative get bigger And bigger to the point where they can't Be paid the other thing is right now Today just on that 35 trillion number Alone that's the national debt never Mind the parts of the unfunded Liabilities that's just the national Debt per taxpayer give or take that's The equivalent of $268,000 just on that 35 trillion Okay now triple it up you're down near $800,000 per taxpayer it can't be paid Off of 268,000 let alone the 800,000 per Taxpayer the math doesn't support it There go straight up bankruptcy and when Those two numbers cross each other 142 Trillion versus the total assets of the
United States at 152 it is the Irrefutable definition of bankruptcy and There will be defaults and we're based On these numbers less than 12 months Away I got another video that I think You're going to appreciate but one of The things he said is not that it Matters necessarily mention I'm going to Show the viewers here in a minute but Deta GDP has a percentage he was warning The you know warning whoever was Listening to that video that it could Potentially hit 140% okay in 2030 unimaginable right but I wanted to Show the viewers where we're at right Now right now yeah exactly yeah not Quite 140% not quite 140% man 23% ab23 wait a minute in 2023 yes yeah this is only going to 2023 This is only going to 2023 so it you Know it could very well be worse but Look at this goes back you know to 1948 Mitch we've never had this amount Of fraud that has just systemically Embedded itself into our bedrooms in our Houses this is crazy this is US Government spending uh for 2024 and I Just wanted to note that the interest on The debt like you're saying like Everyone's warning about the interest on The debt is the second highest debt Category that the US government is Paying so the second highest 14% goes Towards paying the debt the only thing
Higher than that is social security but This exceeds National Defense Medicare Health uh income security VA benefits Education training Transportation I mean The amount of money that they're Spending right Now just to pay for the debt the past Spending since 1940 1980s it got out of Hand all of that 14% that's crazy another thing that Drives me crazy mention is this type of Spending right here this is mortgage Back Securities the FED got even more Clever how can we put our hand in the Cookie jar here now some would say now I've highlighted three times where They've really kicked in quantitative Easing or mortgage back security Purchasing this is the Fed okay so the Start of you know not the start but Towards the start of the great financial Crisis you see that first highlighted in Yellow okay they saved uh a lot of pain A lot of people a lot of Institutions But again though they did it right here Around the end of 2012 uh which is absolutely crazy and Then you can see here in 2020 they did It again and some would say Mitch a Little bit of quantitative easing a Little bit is necessary to prevent you Know horrible catastrophe right so if we If they didn't do the mortgage back Securities that first round during the
GFC it could have turned into a Depression and arguably at that time Arguably we didn't want that right so Some would say that it was appropriate So Mitch you know when I let me ask you This has the government enslaved Us in Un necessary Debt in reality the government are e Beraki is being paid to transfer our Wealth everybody's wealth into the Government's pockets and into the bank's Pockets who's really responsible at the Tail end of the day votes matter the Public has allowed this to happen to Themselves by thinking and listening to The lying being put forth by these Government officials that we're here to Help you the second somebody says we're The government we're here to help you They are lying and they will be Transferring your assets into their Pockets and that is exactly what has Happened the idea you know you talk About these mortgage back Securities It's just another way but if you want to Dance down that road so the public Understands our viewers understand What's going on so if you have let's say It's a $300,000 house just for sake of Conversation do you know that the bank Can literally cut that Mortgage in Additional derivatives a 100 times so Then they have another 100 houses on top Of it so they mix and match percentages
Of your mortgage and put it into other Tranches and then sell those tranches Out so when I was referring to a line of Cocaine that's a line of cocaine and That's what they're doing so the problem Is that the people who buy these Tranches can't even gain access to the Actual collateral there's nothing Backing it up other the implicit Guarantee of that particular bank and That comes right back to the third party Credit risk that I'm desperately going To avoid I don't want anything to do With this so the bottom line is That the shadow banking bernick's Numbers don't include anything having to Do with the shadow banking we don't want To talk about that why because if we Have to raise that issue that exposes The 35 trillion as being nothing more Than a party line it's complete BS the real number you have to include The unfunded liabilities because those Liabilities come online every single Year they come online every single day This clock this cumulative compounding Does not stop and that's what your Amortization schedule on your own Mortgage shows you you are responsible For paying the house payments on your Mortgage the government should be Responsible but it's not because it Won't even discuss on one hand it says Yeah it's 142 trillion on the other hand
They pump all over the place including In the mainstream media oh it's only 35 Trillion we'll just keep pumping money We'll just keep printing It's complete Nonsense I mean it is complete nonsense Because clearly uh the US is broke And all all of these you know Enhancements of money or taking money And making more money and invisible debt Uh you know the fact that they're doing That Mitch and they're still out of Money it's shocking to me because again This is this is how I'm looking at this I mean the US is broke and they have to Continue to print money to afford to Knocko bank rupt and that prevention of Us bankruptcy has etched itself into now America and now we're broke as a result Of the us being broke and so here's the Thing Mitch we have this Tower of debt That's just sitting there okay and then We have this massive amount of horrible Horrible spending that I want you know Deficit spending I want no part of and Then listen to this video Mitch Jan yell Madam Secretary thanks for joining us This morning uh let's start out with the Timeline now of this of this possible de Default you said earlier this week that You expect that it could come as early As June 1st I know you get new Information every day is that still your Best
Estimate uh yes early June is when we Project that we will run out of cash and There is a chance it could be as early As June 1st of course there is a lot of Uncertainty and I plan to update Congress as new information uh becomes Available but that's still our current Thinking are there Extraordinary Measures you can take around that time Or is that It well really that's it we've been Using Extraordinary Measures for several Months now and um our ability to do that Is running out and we will start to run Down our cash and um our current Projection is that in early June a day Will come when we're unable to pay our Bills unless Congress raises the debt Ceiling and it's something I strongly Urge Congress um to do I want to go into Some data here in a minute Mitch on the Impacts this is all causing to the Consumer but before I do that any any Comments there yeah there's a Bastion of Intelligence between those two so the Reality of it is that she's speaking a Party line because she wants the debt Ceiling increased it's the exact Opposite of what should be happening First thing second thing and to butress Even her point do you know that last Week there was a Meeting following a prior meeting the Week before at the tant appraisal
District which is Fort Worth there were 15 school districts lined up like Jets On a Runway with their handout saying You must keep the real estate values Rising because if you don't we are Bankrupt that was that memo that we Showed that Emily wolf put together And it's stunning because a it's an Admission that the school districts are Bankrupt B the terrent appraisal District had their heart in the right Place with the idea of okay we'll freeze It it didn't address all the frauds that Have been committed but the idea was Will freeze it the following Week the school districts show up with Their handout well those school Districts are acting just like Janet Yelling you must keep this fraud going We cannot address the underly problems These two things are 100% directly Correlated and I want to show the Viewers now Mitch the impact that's Having on Main Street now I me I already Feel a recession in my household a lot Of other people feel a recession if People have any credit card debt I mean For the most part trust me it's a Recession in your household because your Spending habits but look at this the Cfpb came out with this report look at This share this is the share of balances That are 90 days delinquent as a Percentage and I want to point out that
It's it's over 10% which is absolutely Shocking to me because this is serious Delinquency at this point if you have You know a 90day late on your credit you Just got hit with three late payments You went 30 60 90 your purchasing power Is gone for years more than likely in in Most situations but I wanted to point Out the trajectory is worse than it was Right before the GFC so from a credit Card standpoint right now even though we Don't see necessarily delinquencies with Homes we certainly see it when it comes To one of the most powerful consumer Purchasing power which is credit cards Those delinquencies are absolutely Exploding and when we look at the Consumer's ability to even pay for all Of this which is what I've been Hammering everyone's hammering you know Please my God like let's just talk about How can you afford this is the Government just going to pay us is is That where the missing income is GNA Come from this just came out August 14th Uh Bureau of Labor Statistics I mean This is real Earnings and real and I'll read this Real average hourly earnings increase 7% Seasonally adjusted from July 2023 to July 2024 which essentially means that Income growth real income growth is Going up less less than 1% meaning it's not mathematically
Possible for consumers to sustain the Situation and we see that with headlines Like this banks are bracing now this is An interesting website courts they've Actually had some pretty interesting Articles about the GFC but the title of This is banks are bracing for consumers To stop paying off their credit cards And this is you know JP Morgan City Wells Fargo Bank of America obviously They know something's coming and I Wanted to read just one paragraph here JP Morgan built up a$ three billion Provision for credit losses in the Second quarter Bank of America did 1.5 Billion what do they know Mitch that we Don't know City's allowance for credit Losses totaled what 21.8 billion at the quarter's end that's Absolutely shocking and I'll read this Last one the buildup stores show Banks Bracing for a riskier environment where Both secured and unsecured can create Which is debt could create bigger losses For some of the nation's largest banks We're not even talking about Shadow Banking we're talking about the Household pillars that are apparently Keeping you know America together I mean Isn't that why we're paying for them and Bailing them out isn't that the premise Here so help so Bell us out a recent Analysis of household debt by the New York fed found that Americans owe a
Collective about 17 trillion on Consumer Loans student debt and Mortgages and this is last thing right Here Mitch this is crazy to me now this Came out today this morning at 9:39 a.m. You see that August 19th this is from Market watch just look at this headline Wall Street is six to your point Mitch Wall Street is six times the value of Main Street that shouldn't be possible It should be one for it should be one For one it should not be six to one uh And this is according to a Bank of America analyst Mitch let me ask you is America out of money when it can just Print the money I mean do we even have To worry about does America government Have to worry about being bankrupt when They could just print money well before You even get into that what you just Showed is the exact reason why real Estate taxes on assets need to be Eliminated right you've got to flip the Switch because people should are Entitled to have an asset they if you B Buy it and you pay for it it's yours so Taxes can be paid in the form of sales Taxes that's perfectly fine because it's Quantifiable but what you just showed in That one clip is exactly why the real Estate tax is under everybody in the United States you got an asset you own It it's yours nobody can take it as long As you're making the payments on the
Mortgage so the other issue is are we at The end game The Tipping Point yeah Because the reality is the income isn't There under the enslavement that they've Created by literally taking the land Under your feet it can't be paid for and It's their debts see that stuff on Wall Street are Derivatives and like I said when you can Take a mortgage back security and cut it A thousand different ways and retch it It's all complete nonsense it's all Based on Theory it's mathematical Theory But it isn't true because you can't get Access to the actual underlying asset so Think of it this way they took the Tranes of these values of a house $300,000 home they cut it a hundred Different ways they repackaged it they Sold it off they picked up the fees in The middle now if any one of those People on one of those particular Tranches thinks that they can go back And get a piece of your house a $300,000 Home they're Delusional it's a derivative what you're Seeing when they say well wall Street's Value is X yeah it really isn't because At the tail end of the day they can't Collect it's all hot air it's all credit It doesn't mean anything the only thing That means something are hard assets now You've got something that's quantifiable And even there in the case of The Office
Buildings you better be real careful Because as we know there are Office Buildings out there that are literally Worth negative Value I mean they're doing all of this Mitch I mean and they're still broke I I Just I just can't it's really difficult To wrap my mind Around how they could be make money out Of thin air like this right and still be Broke and really what it sounds like to Me is they Printing and structuring These things to essentially print their Their problems away while at the same Time Stealing my future and my children's Future Am I Wrong to think that no is That exactly what's going on here 100 Per. and then so I mean it's frustrating Mitch because again I'm still trying to Wrap my mind around a video we've done You know four videos back I mean I'm Learning a lot here But you know let's conclude let's wrap This up I want you to take you know a Minute or two minutes and talk to the Viewers about what a solution to this Debt crisis and government Overspending um really is what's the Solution here Mitch what what could the Normal American do after this Video the normal American should be Watching this series of videos to Understand that people who are watching
This series of videos know more Considerably more than the government Officials who profess and make these Statements in public well this is what We're doing to pay down the debt um yeah You haven't done anything in 50 years And it's only gotten worse and it was a Known thing that would happen just by Virtue of the mass under the rule of 72 So votes and voting considerably at this Point in our history matters you cannot Keep voting for morons if you put these Morons in place you get what you deserve And that's a harsh statement but that is The reality of where we are this math And everything we've put forward for and Everything that's on our website is Simply irrefutable it cannot be argued Against why because it's the Government's own numbers all we've done Is Expos the fraud on their numbers they Said this just like you did a few Minutes ago with with yelling this is What they say but it's a party line These people are getting paid to keep The fraud going forward in the case of The FED they're getting paid to protect The fraud committed at the banks because They created all these derivatives none Of the derivatives since 2008 2009 have Gone away they're still out there now Add on to that the compounding Cumulative effect of rolling up and
Rolling out the combination is lethal And that puts you to the point within The next 12 months where America's Wealth will be less than America's debt In total it'll be north of 152 Trillion there's no math on this planet That will allow that to be paid back and In fact we've exported these problems to Other countries because the IMF International monetary fund picks up the Phone and they speak to Yellen they Picked up the phone and they spoke to Bernacki it's a cacophony of fools that Literally cannot add one Inone okay so part of the solution I Hope the viewers got all that U mixed in There that was pretty heavy Mitch which Is awareness right so like Step One is Awareness once you're aware you can Empower yourself um it may feel Overwhelming all this information but It's so very important you don't give up Uh part of the things that you could do To empower yourself and have confidence In yourself as an individual is just Re-budget hang tight you know make slow Progress you don't have to conquer the World tomorrow but the sooner that you Start making changes today the sooner That your tomorrow will be better and That's really what I want to give back To you guys I really hope you guys are Understanding that we're trying to build A community as best as we can full of
Value full full of information that you Can lean on to help navigate you through This crisis hope you guys are seeing That everything's going to be linked Below don't forget to sign the petition Go to Mockingbird website Mockingbird Properties everything's going be linked Here and find out and you guys I'm going To tell you this once it's time next Year in 2025 to start fighting the cads Mitch and I are going to be here and Other than that guys if you're out there Investing in real estate you know that We wish you luck and we hope you win
