The economy is so bad that these guys can't even afford a studio to record their videos.

It's ironic when billionaires say there is inequality in the country

I think what he's saying is it's a shit show but doesn't want to say it will get really bad. Bet he's got his bunker in NZ sorted out :)

"Fiscal stimulation"=Rich people getting paid with tax cuts

First question: You don't ask the pig if it wants to be slaughtered...

So, in a nutshell, it looks like what Japan went through for 20 years.

"and another thing I've noticed Bob, guillotine production is starting to ramp up as income inequality hits an all time high."

Quantitative Easing gave us 10 years of falling wages. Low interest rate debts create inflation that function as an invisible tax on wages and savings. Inflation has always been used to enrich the financial sector and give them power to control the productive economy. Because inflation is a tax on the poor and middle class, it should only be used to benefit the poor and middle class. Public banking would fix a lot of problems.

These boomers dont have a clue. The disconnect is unbelievable.

The calm before the storm

If the first thing out a billionares mouth is, "taxing the rich won't work" he's probably not the person to ask. Norway Sweeden and Switzerland have enormous taxes on the rich. They are the happiest people on Earth. Their cops don't ever have to carry guns. If we listen to billionares NOTHING will EVER change

In the 40s,50s, and 60s we had a 70 percent top tax rate and CEO salary was no where near as high relative to the average worker. We had some of the highest economic boom in this country and workers shared in the boom. Today we've had record stock market gains which means companies are doing very well but workers aren't sharing in those gains. These tax cuts that the GOP claimed would create jobs haven't. All companies did was pour it into stock buy backs to inflate their company stock prices which the executives and officers will then sell before the price drops(this use to be illegal by the way). The greed of the billionaire class knows no bounds. They had a great thing going. All they had to do was share a sliver of the gains with workers instead they advocate for laws that takes and takes and takes. No pensions any more, jobs like Uber with no benefits at all, contract work. The day of reckoning is definitely coming.

I’m going to research every word he said to figure out what the hell hes saying

Trump: I can solve the national debt problems, like I usually do, I just declare bankruptcy and problem goes away.

One thing he said rings unmistakenly true, "there's always an opportunity somewhere if you just understand how it works, (and can find it)."

The economy feels like how it was in 2006-07

they new this was coming years ago they don't give a shit it only really affects the common person

Quantitative easing = printing currency. The economy is based on monopoly money and getting all of us to agree it's real.

I hope there's another interview with Mr. Prince soon, would like to hear his views one year later

The reason that's emerging as a topic is BECAUSE IT WORKED LAST TIME.

HE FORGOT TO MENTION DURING THOSE 20 YEARS OF UGLINESS HE WILL BE IN HIS STATE OF THE ART BUNKER WAITING UNTIL THINGS BLOW OVER. 🤣🤣🤣 WE’RE SCREWED.

What a surprise...... As if it hasn't been since the 2000s.

It's the same basic process of wealth extraction and accumulation through capitalism. This happened at the end of the 19th century, continued through to the great depression. After we were saved by the economic boom of WWII, we dutifully played the power-elites' game of market deregulation and lower corporate tax rates. This isn't a mystery, people. Study history, it repeats itself.

Notice how they tip toe around the truth

It could go one way or another? Thanks for the expert advice.

Why would anyone look for solutions to income inequality and a massive shift of wealth to a tiny minority of people (that cannot be justified) from a person who helped create it and became rich because of it? The whole idea that these people at Davos have any idea of what to do in order to avoid economic disaster, is ridiculous. Despite what they tell themselves, the "think tanks" they create, the university economics departments they fund, they are no more likely to be smart, hardworking, and/or ethical than any other group of people. Frankly, what they won't admit to each other or themselves is that they have no idea what to do now that neoliberal global economics have run their course. They only have that as their mantra. They've embraced it and internalized it. They tell each other that it will solve the problem. They, like any other group, in an enclave, believe only what they see within that enclave. It's a mistake. Take off the suit. Get rid of the jet. Walk the streets ALONE. If you do, you'll find out far more truth than what any person you pay will provide.

A recent survey taken showed 57% of Americans could not meet a $400.00 emergency.

Here’s the thing, the economy never recovered from 2008. Interest rates are supposed to be manipulated to either stimulate or slow the economy down to prevent inflation, deflation or stagflation. After 8 years and one .25 raise we now find ourselves in a serious inevitable situation with overvalued assets and high debts. Let the interest rates go up to normal levels and watch it reset. The crisis that’s brewing is of biblical proportions.

Wait you mean we cant stand under cripplingly dept forever?!?

This guy from BI. Is a great interviewer Asks the right questions and listens

All i know is, if my wifi goes out, someone's getting HURT..

Great, informative interview! Thank you, BI...

Are these the same people that said Trump would never be president?

Interest rates cannot be permenantly at almost 0. Bubble time

This is one of the first people I've heard talk sensibly about populism vs free market politics in a long time. This all seems pretty clear while most people think you can just raise or lower taxes to solve a very complex problem while ignoring us owing money to a lot of adversaries.

Excellent interview. Thank you.

Biggest takeaway-and something that’s so true- “there’s always opportunities somewhere”

Business Insider cutting back on the budget, they put their asses outside to do the interview, classy

“Probably with difficulty” and “20 years of ugliness”, harsh closing points.

He understands current Dynamics. Good interview. When he's asked about the rise in populism he blames the populist for wanting govt social programs,

Cut military funding in half, that would be 500B that could easily be used to provide a state college education for any American that wants one. Let's educate our population to fix the problems we face.

How do you get excellent audio like that outdoors?

Ugh... Why did I scroll down? I can't take the entitlement! I am broke but not because some billionaire found a way to legally provide a service that others were willing to pay for. I am broke because I didn't work hard in school, I didn't get a degree that was worth a crap from my state college, and I loaded up with debt. Instead of bemoaning the 1%, I chose to buy toys, have 4 kids, go on vacations I can't afford and be happy. (Great interview by the way. Good insight, shared for free!)

For billionaires income equality is populism. For the rest of us is Social Justice.

The economist in him says a recession is coming. The billionaire in him says taxing him at 70% wont change anything.

"It's like a shot of adrenaline, it initially gets you up, but then... uh.. things slow down.." no... Bob, you mean "then you crash." Oh that defensive language...

Yep, probably the most valuable tip I gleaned from this interview is the last sentence. 😎🤟🎉

who is watching this after black Friday 13/03/2020?

That seems exactly what a billionaire would say. On the other hand I’m poor so I don’t really care.

Paid Industrial Propaganda The economy is what we say it is.

Sir, are you telling me the sovereign debts the banks are holding does not translate to a leveraged financial system? Aaaalrighty then.

This guy knows way more than he's saying. His kind reap the rewards of standing at the crossroads of the ruthless free market as well as ruthless, global central planning. The stakes are very, very high- his rational calmness makes the bad news go down smoother.

12 minutes of financial bullshit gobbly goop, in an effort to not address the real issues. Interesting how he mentioned "income inequality" in a cursory and dismissive manner. Acknowledge it, but never mention it again, financial policy.

Another billionaire that thinks measures to increase taxation on his vast wealth can't really address the issue of income inequality. So, it's up to the struggling (and disappearing) middle class to vault their incomes stratospherically to close the gap. It's amazing what one can do with a true brainstorming session. That's why he's so filthy rich.

What I don’t understand is if there is a deficit then why is the government borrowing money to give away as foreign aid?

0% for banking sector but not for consumers. A shitload of rules, regulations, and increasing taxes on the average person. Not easy to purchase homes, open a business, purchase products. No wonder our economy is shit.

We in the US are functioning on 10% of the liquid assets and we are in debt, while the "one percent" billionaire class have 90% of the liquid asset which are gambled on Wall Street speculation.

Considering that 42 people hold as much wealth as half the world, a higher tax rate will start to help the situation and lessen income disparity.

As a wealthy man, "twenty years of ugliness means , more of the same for efficient citizens. Twenty years of ugliness may mean bowling rather than ballet.

Gee... the 70%+ marginal tax rate kept the inequality in check for decades, until it started getting slashed in the 80s... and the reasoning is this... if you know that your excessive income is going to get taxed at 70% or more, you are less inclined to hoard it and more inclined to allow it to be passed along in the form of salaries and other benefits for employees and other stakeholders, because you no longer treat the stockholder (and executives are predominately stockholders) being supreme over the other stakeholders such as employees, customers, and the community.

THEY ARE GOING TO DEVALUE THE DOLLAR

I’ve been waiting for 3 years and i don’t think I believe it anymore

The marginal top tax rate used to be over 90%. The economy did great during that time and income inequality was much less. I love how BILLIONAIRES tell citizens in the US that we cannot afford healthcare or college, but every other industrialized country can. The increase in the military budget alone this year is enough to give everyone free college in the US. They just want to keep all of their money. They have healthcare already. Who cares about the bottom poor people??!! And he says NOW that debt is going to be a problem??? He needs to study MMT.

Cut taxes for the middle class. Cut federal jobs in half. No big spending bills. Our government is so stupid it will pay 500 dollars for a hammer.

I think he is right about the debt issue but wrong about the impact of grazing taxes. Middle-class wages have been stagnant since the 1970s and the economy does not reflect the quality of jobs.We must save the middle class or there is no America. Raising taxes and reducing military spending will help us a lot.

Can't be as ugly as me

A billionaire tells us taking his money is bad economic policy. NO BIAS THERE!

"The Hamptons are not a defensible position." -- Mark Blyth

High levels of economic inequality often leads to revolution and political chaos. So higher taxation of 70% marginal tax rate helps avoid a lot of pain to lot of people. Secondly, the changing demographics in developed countries is going create a long term economic contraction. People who have real money are retiring and they are going to spend less, consume less, and millennials do not have the incomes to match the decline in consumption. Thirdly, Automation, Robotics and shared economy is also reducing the number of good paying jobs for millennials, which is further aggravating the income growth.

"create jobs and income in parts of the country that where "gutted" by one force or the other" = forces driven mainly by people like me that were already or close to be billionaires, and made sure that the income of the working class adjusted from inflation would never to be raised above what it was the last time the tax was 70% or more (i.e. the 1970s). Our daddies made the mistake not to lobby hard enough for this to end sooner, we current gen of billionaires won't make this mistake again. Let's push the responsibility to "other forces" exclusively.

We’re headed for twenty years of ugliness but not exactly a depression, rather a global slowdown. Got it!

Billionaires like this like to be taxed because they'll still be billionaires, but it'll keep other potential billionaires from competing with them if the taxes are too onerous to achieve that level of wealth. Great way to keep the competition down.

But we really haven't recovered from the last crisis. This will finish Western democracies!

He said nothing. Yes we can make rates to go to zero again. Next recession 10-15 yrs as politics fall apart.

Can someone make an edit where every-time they say "70% tax rate" there is a voice over that says "70% marginal tax rate". No one is proposing a 70% tax rate, that is a blatant lie.

Rich people don't think taxing them at 70% over 10 million is unfair. Get over it because it's coming and it's been here before.

Duh! He's into Hedge Funds, thus he pitches the negative and gets rich when we buy into it. They've done that before. Shmuck.

The tax payer will pay for it, nobody is worried. :)

I wish people would stop asking billionaires what they think about tax

No country has ever taxed its way to prosperity, but some people in the comments section don't seem to know that. When our theoretical top rate in the US was91%, our actual total tax burden was much lower than it is now, business was far more lightly regulated, energy was cheap and abundant, demographics were very favorable, public debt, although high, was falling versus rising now, and private debt was lower and savings higher than today. And there was no rapidly emerging entitlements funding crisis. "Soak the rich" tax policies will not fix any of theses problems, but they will disincentivize or drive away the entrepreneurs and investors whom we sorely need. Don't eat the goose that lays the golden eggs.

The lowest places in hell is preserved for the bankers.

Were at peak credit cycle right now , last time was 1929, 15 years of stagnation and war followed , what do you expect to happen now

Diminishing marginal utility in a world with scarce resources is why a higher marginal tax rate is both necessary and a good idea.

Goes down just like housing crisis. Average American wakes up to news headline “we are screwed”

Let’s ask all the people who make more than $10m a year if it’s a good idea to tax them at 70% lol

The hedge fund guys want the market to go down so they can short it. So far it hasn’t work out too well.

A 70% tax rate won’t solve key problems like jobs or inequality. Ummm.... I’m confused... a 70% tax is only for after the 10 millionth dollar takes money from the top 1% of the country and uses that money to create middle class jobs like teachers, construction workers etc. How doesn’t that help jobs or inequality?

Interesting interview

Isn't the financial sector still hugely exposed in derivatives?

Maybe, if there were no technological advancements, and there are plenty coming.

I don't think so, the increase in hiring 15 dollar-wage workers will keep the economy going as long as the government (certain political party) doesn't exacerbate national problems like immigration, socialism, and additional regulations.

Where did he say the economy is headed for 20 years of ugliness? I can't find it.

So wtf do we do.

Phuleeeaase!! The economy is the best it’s been in so long! Just ask our president! 😂

Thank you 👍🏽

Top notch interview

Noone has a working crystal ball... including this guy.

"Blah blah blah dont take my money, blah blah blah growth good" Every rich person's answer will always be "work more" lol

Good finish! "There's always opportunity somewhere"

i recently cashed in all my EE Bonds, before they are junk.