Shrinking US Debt and Growing the Economy at the Same Time - Is that Possible? Carol Roth

🔴 Watch the extended version of this episode: https://ept.ms/Y0102CarolRoth

This is the 30 minute TV version of Jan Jekielek’s interview with Carol Roth. The longer-form version was released on Epoch TV on January 2, 2025.

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Carol Roth: “We're at a very precarious point financially, and so some of the things that sound easy are actually incredibly complicated…If you look at the IMF and the Treasury and a lot of the other major organizations, they normally say that a country gets into trouble, that the debt becomes unsustainable at around 70 to 80% so really, we need to cut the debt to GDP in about half.”

Jan Jekielek interviews Carol Roth, a former investment banker and author of several books—most recently, “You Will Own Nothing: Your War with a New Financial World Order and How to Fight Back.” Carol discusses the biggest financial challenges facing the incoming administration and how to confront them.

“So we really have this very delicate situation that requires perfect choreography, and unfortunately, there are just a lot of things at odds. So we do need to shrink our spending, and we need to need to get a hold on the debt, but it needs to be done in a way that you have the growth go first, otherwise you're going to end up with less revenue, which means you're going to actually widen the deficit and create a worse problem.”

CHAPTER TITLES
0:00:00 - Introduction to the Financial Challenges Facing the US
0:01:05 - The Shifting Global Financial Order
0:05:00 - The Weaponization of the US Dollar
0:09:12 - Analyzing the US Fiscal Foundation
0:13:49 - The Need for Growth and Spending Cuts
0:18:02 - The Treasury's Biggest Challenge
0:19:48 - Final Thoughts and Advice

Carol Roth about the dollar: “The reality is that a lot of the countries that are aligned, now known as the BRICS nation, the Brazil, Russia, India, China, Saudi Arabia, and some of the other South South Africa's in there, these nations are actually starting to engage in trade in their local currencies.And what the Chinese have done and said, Well, maybe you don't want to take the renminbi. You don't want to take the yuan. What we're going to do is we'll offer settlement and gold. And so as countries around the world, who used to hold, you know, lots and lots of US dollars via our treasuries as the reserves, they have been lighting up on those reserves.”

Why America’s economy is not ‘doing fine’: “When you hear things like, Oh, the economy is doing fine, or the economy is doing great again, you have to say it's being driven by a wartime deficit. And that is really like window dressing. When you pull down, you know the facade, you can see what's behind that curtain, and now you're saying what the Wizard of Oz looks like, and it's not great. And so Trump has been left with a veritable mess here, and that's something that he's going to have to work very delicately. The best news possible is that he has a very smart Treasury Secretary pick at Scott Bessent, and this is somebody who is going to understand this choreography. And probably be thinking out of the box, versus an academic like Janet Yellen, who, you know, helped to create the situation to begin with.”

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