Some see a new financial order coming where we are moving from an “I own it” (my home, my car, my computer, my software, my data) to “I subscribe, share, or lease it.” Millennials, on an inflation-adjusted basis, make more than Gen X or Boomers at the same age but have less wealth now, including less housing ownership.
On The Small Business Radio Show this week, I talked with Carol Roth, who says that this will be a monumental shift for everyone and where we will “own nothing.” She is a “recovering” investment banker; entrepreneur; TV pundit and host; speaker; economic, business, and financial commentator; content developer; and New York Times bestselling author. Her books include “The Entrepreneur Equation,” “The War on Small Business,” and now her new book, “You Will Own Nothing.”
Here is what we talked about during the radio show with Carol:
- Why large corporations want to rent you the American Dream and big tech wants you to make your life filled with subscriptions or services!
- Why every war doesn’t bring about a new financial world order, but every new financial world order has been preceded by war.
- How wealth comes from ownership, so we should be encouraging more, not less (that includes owning your own business)! Unfortunately, Carol believes we are encouraging less ownership by having to share or rent everything in your life and business.
- Carol describes the Federal Reserve’s role in debasing the currency, the current banking crisis and other matters accelerating the global financial shifts.
- How just over a decade ago, there was no meaningful institutional capital in the single-family homes market; but by Q4 2021, 18% of all single-family homes purchased were by big corporate buyers and how that trend is continuing.
Image: Carol Roth