Friedberg claims 63 percent of Americans have negative equity with more debt than assets and no economic mobility.
“They have more debt than they have assets and everything's getting more expensive and no one's moving up the economic ladder. There's no mobility anymore.”
Friedberg validates the feelings of people complaining and moving toward socialism, saying they are absolutely right in how they feel.
“I don't think the people that are complaining and that are trying to go down the socialist path are wrong in how they're feeling. I think they're absolutely right,”
Friedberg criticizes someone with a $300 million net worth whose children have memberships at three country clubs.
“This is some dude who has a $300M net worth. His children have memberships at 3 country clubs.”