Freedomain Radio - Stefan Molyneux - Everybody's Broke
Aired: 2025-05-23
Duration: 05:22


=== Everybody's Broke (03:59) ===

[00:00:00]  Yeah, salads have gotten really sad these days.
[00:00:03]  Swimming in goop-clogging dressing.
[00:00:08]  Lettuce.
[00:00:09]  It's like sought by cheapest and bulkiest, right?
[00:00:12]  Lettuce.
[00:00:14]  Bunch of carrot bits, maybe a bit of tomato.
[00:00:19]  A couple of croutons.
[00:00:22]  And it's a soup.
[00:00:23]  It's a soup.
[00:00:24]  Now, the poor food quality...
[00:00:31]  Like, everybody's broke.
[00:00:36]  Japan's broke.
[00:00:37]  Greece is broke.
[00:00:38]  Europe's broke.
[00:00:39]  America's broke.
[00:00:40]  Canada's broke, individuals broke.
[00:00:42]  Okay.
[00:00:43]  Thank you.
[00:00:46]  Everybody's broke.
[00:00:50]  Because the massive tilt, the massive tilt of taking money from productive people and giving it to people who are unproductive has no end.
[00:00:58]  Save.
[00:00:59]  Collapse.
[00:01:04]  I talked about this.
[00:01:06]  Oh, gosh.
[00:01:11]  Let me see if I can find it.
[00:01:13]  When did I talk about it?
[00:01:19]  But it was quite some time.
[00:01:21]  Quite some time ago.
[00:01:23]  And it's called The Welfare Cliff, right?
[00:01:25]  So this is a woman with two kids has to earn like $100,000 to just break even.
[00:01:32]  To just break even And she's not going to be able to do that.
[00:01:44]  So in other words, she's taxed at more than 100%, up to 100% until she starts making $100,000, which gives her the same amount of money that she gets from The welfare state in all of its various forms.
[00:01:55]  It doesn't even count government schools, right?
[00:01:57]  So she's taxed massively crazy until every dollar she makes past $100,000 is taxed at whatever rate that would be, 30%, 40%, 50% or whatever it is, right?
[00:02:12]  She can't get out.
[00:02:14]  The welfare cliff.
[00:02:15]  Welfare trap is caught.
[00:02:16]  Welfare trap is caught.
[00:02:22]  Can't do it.
[00:02:26]  Can I fix it?
[00:02:38]  but everybody's broke.
[00:02:40]  Okay.
[00:02:44]  Everybody's getting free phones.
[00:02:46]  Everybody's getting hotel rooms.
[00:02:48]  Everybody's broke.
[00:02:49]  There's no money left.
[00:02:50]  There's no money left.
[00:02:55]  The Republicans failed to implement any of the Doge findings.
[00:02:59]  Yeah.
[00:03:03]  So, I mean, this is why, you know, why did you get out of politics five years ago, right?
[00:03:07]  Well, because, I mean, Elon Musk, the world's wealthiest man, with the full support of Donald Trump, the president, and Donald Trump's cabinet, well, a lot of Donald Trump's cabinet, and a significant proportion.
[00:03:23]  of the American population can't catch it.
[00:03:27]  Really?
[00:03:27]  *Sigh*
[00:03:42]  So because everyone's broke, everything's just a shell of what it used to be.
[00:03:49]  The price of everything is going through the roof.
[00:03:51]  Wages are stagnating.
[00:03:53]  The price of housing is deranged.
[00:03:56]  Absolutely deranged.

=== Crazy Credit Card Interest Rates (01:22) ===

[00:03:59]  I saw some fine print on a credit card company contract the other day where if you miss two payments there, interest rates go into the mid 20%.
[00:04:12]  Like 24, 20. I can't remember exactly what it was, but it's crazy.
[00:04:19]  I mean, let's do this for our American listeners.
[00:04:32]  average credit card interest rate.
[00:04:33]  I don't know.
[00:04:40]  That's mad.
[00:04:43]  This is from Investopedia, May 20th, 2025.
[00:04:46]  Two days ago, right?
[00:04:50]  The median average credit card interest rate for May 2025 is what?
[00:04:58]  What is the median average credit card interest rate for May 2025?
[00:05:05]  What's it at?
[00:05:07]  Hello, Harvey.
[00:05:09]  Don't text and drive.
[00:05:11]  I'm begging you.
[00:05:11]  Please don't text and drive.
[00:05:12]  freedomain.com slash donate to help out.
[00:05:19]  The show.
[00:05:21]  FreeDomain.com slash internet.