“I think we are in a once-in-a-lifetime financial transition, and I think that everybody needs to sort of strap in for that,†says Rana Foroohar of the Financial Times in this excerpt from the new FRONTLINE documentary “Age of Easy Money.â€
This journalism is made possible by viewers like you. Support your local PBS station here: http://www.pbs.org/donate​.
Premiering March 14, 2023, “Age of Easy Money†examines how the policies of the U.S. central bank, the Federal Reserve, ushered in an age of easy money — and explores the potential consequences of the Fed’s decision last year to start hiking interest rates at a historic pace in an effort to fight inflation.
This excerpt shows how many economic experts FRONTLINE spoke with alluded to a particular quote to describe the current economic moment, in which the risks and excesses that had been building in the age of easy money are beginning to surface.
“When interest rates start to rise, and the tide pulls out, as Warren Buffett would say … you begin to see who’s not been swimming with their shorts on,†Foroohar says in the clip.
“Age of Easy Money,†a two-hour special, premieres Tues., March 14, at 9/8c on PBS stations (check local listings), at pbs.org/frontline, in the PBS Video App and on FRONTLINE’s YouTube channel.
The director, producer and correspondent of “Age of Easy Money†is James Jacoby. The producer is Anya Bourg. The senior producer is Frank Koughan. The editor-in-chief and executive producer of FRONTLINE is Raney Aronson-Rath.
Explore additional reporting related to “Age of Easy Money” on our website: https://www.pbs.org/wgbh/frontline/documentary/age-of-easy-money/
#documentary #economy #interestrates
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Funding for FRONTLINE is provided through the support of PBS viewers and by the Corporation for Public Broadcasting.
Additional funding is provided by the Abrams Foundation; the John D. and Catherine T. MacArthur Foundation; Park Foundation; the Heising-Simons Foundation; and the FRONTLINE Journalism Fund with major support from Jon and Jo Ann Hagler on behalf of the Jon L. Hagler Foundation, and additional support from Koo and Patricia Yuen.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in our country.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in our country.
My greatest concern is how to recover from all these economic and global troubles and stay afloat especially with the political power tussle going on in our country.
United states has been having several "once in a lifetime" events since: 2001
This is all the culmination of sixty years of evil. CBCDs and ESG (Environmental Social Governance) are the end game. Chinamerica and the end of freedom. There is no such thing as a coincidence. 👹"I'm good…no?"
1 year later PBS shuts the comments off because they can’t take anything that counters their narrative.
all fake money fake fake
Turns out Rana was wrong. and said it with such conviction too. In the time period she said to we would see a crash, we saw a boom.
Never trust a woman's advice on finances. They can continue to get promoted into management positions by DEI but they just are not good at analytics. Sorry about that truth bomb Rana…
Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
Don't
Within 3 years you are all going to be living in abject poverty or just homeless
The gov lied due to corp lying about jobs. Thus we ended up here where things are even worse now and going get much worse over the next few years.
DISDRET Congressman UK Bujor Silvia Securities Garanty BANKARE Proecte Technology Company, Gaz, Oil, Electricity, Bloc Bursa Finaciar Disdret SEMNEAZA CONGRESSMAN UK BUJOR SILVIA Labrinia Via Mariotti 21
gold and silver, hold it to own it
We're in Uncharted Financial Territory! Every day, we face obstacles that have become the new norm. Although it was initially viewed as a crisis, we now recognize it as the new normal and must adapt accordingly. Given the country's present economic troubles in 2023, how can we increase our revenues during this period of adjustment? I cannot let my $800K savings disappear after putting in so much effort to build them.
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
We have a system of cushy socialism for the super rich . this kind of brutal, savage, merciless capitalism for the poor, it's all designed to strip mine the middle class of this country of all of their equity, all of their assets, and move it to the upper echelons. And the COVID lockdowns were the final straw. As an investor, I was caught in the storm, my portfolio suffering significant losses. Now, I stand at the precipice, looking for a path to recovery, ready to rise from the ashes. I've set asides $250k to invest for future, unfortunately I'm a complete noob.
We have too many people wearing flip flops we need more work boots to make America great again
The world is going digital and no one is prepared. Future banking will be 24/7 365 no day’s off. You won’t need to exchange currency because it will be automated, so will taxes. Ai will replace many jobs and new technologies will arise. But this transition will not be a smooth one unfortunately.
America is currently plagued by the hydra-headed evil duo of inflation and recession. The worst part about this recession is that consumers are racking up credit card debt. In April alone, credit card debt went up 20% while rates have doubled in a year. Inflation is so high that consumers are literally taking debt for basic life necessities. Collapse has indeed begun.
A weak dollar can signal an economic downturn, making me to ponder on what are the best possible ways to hedge against inflation, and I've overheard people say inflation is a money-eater thus worried about my savings around $200k.
To my understanding this just proves how much we need an edge as an investor because playing the market like everyone else just isn’t good enough. I’ve been quite ensured about investing in this current market and at the same time I feel it’s the best time to get started on the market, what are your thoughts?!
Problem isn't job growth, the REAL issue is job Pay… idiots. I'm all for a new union of rank and file members. But only if Union leadership only acts in the best interest of the rank and file members. I'm not afraid of anything, but being forced into servitude by corporate lobbyists.
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Buy military stocks. That's the way to make money now
Inflation is far more harmful to individuals than a collapsing stock or property market because it directly affects people's cost of living, which they immediately feel. It is not surprising that the current market sentiment is extremely pessimistic. In today's economy, assistance is critical if we are to survive.
These comments are full of scam bots, apparently PBS does not recognize it, but i warn you to not follow those 'investment mentors BS'.
Things are strange right now. The US dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings of about $420,000 losing value because of high inflation. Where else can we keep our money?
Inflation depreciates idle money. I'm in a privileged position to be able to save almost 65% of our net household income, as I placed it on safer investments. The key for us was not spending beyond our means. If you invest and have other sources of income outside of dividends then you will be able to live off dividends. Got north of $200K in my portfolio as I bought a lot of dividend stocks before, I'm buying more now, and I will buy more when it drops further