The best financial decision was made for me, my wife of three months divorced me. It took me 15 years to recover financially from that, to pay off all our debts and retain the matrimonial home. It forced me to cut back expenses to the bare bone. I was debt free after that, no mortgage, car payments, credit card debt or line of credit debt. I remained debt free since then. I lived alone for 37 years, living like a monk/hermit to save money and pay down the debt, after that it became a habit. I was able to retire early and have had no financial worries since. I did not work outside of my full time job, did not do any overtime, and have not done paid work in my 15 years of retirement. Now getting on in years, I have learn how to spend all my savings before I meet my maker. I have no diplomas or degrees, I worked 40 years in a blue collar job.
it wont be a collapse but when trump gets in he's going to kick off the trade wars and anything that isn't made here in the US is going to become astronomically expensive.
Are you guys suggesting that our situation is the same as it was ten years ago? You see no evidence of decline? Nothing in chemistry or nature happens in a linear fashion, it is always exponential. And to me, it seems like that parabolic curve is ramping up right about now. But if you see it another way then don't prepare. Its a free country. Still...
Take yourself out of the equation, just be invisible. Been minding my own business for years. I'm self-sufficient, so I just take care of myself and ignore what's going on around me. Know my surrounds and stay out of everybody else's business. This kept me out of trouble for years and if you can't see my circle, than I don't exist.
Living in South Texas, the first, second, and third Gen immigrants will buy a $75,000 truck and rent a shack; but what scares me is that as we have one Mazda 3 and run a small business and do all the right things and keep our mortgaged home up (we’ve had multiple attempted break ins already) and you feel the hatred… We’ve just imported another 30-40 million new debtors the last 4 years and as that separation continues like we talk about as they demand more and more “help” from govt… are they going to let us keep our assets? UE might say, “what if???” And that’s true. All we can do is position ourselves in the best way possible considering what we know. We are trying to buy a home in Oklahoma right now. We are praying and hoping. People who don’t live in a majority non-American area have no idea how blessed they really are, crime is out of control.
1.) You shouldn't hate on immigrants when they are still the back bone of this country's agricultural and blue-collar work force. All of the groceries you purchase have been picked or packaged by someone who most likely immigrated here. 2.) "imported another 30-40 million new debtors..." is a crazy statement when they only immigrate here because the US gov. f*cked up their countries in the first place. 3.) I hate to break it to you, but moving to Oklahoma or moving to a "more American" (white) area isn't going to save you from what's about to happen. You're still going to have armed break-in attempts, but it'll be by people with your same skin tone. Also, if you don't have U.S. citizenship, you can't benefit from US welfare programs. If you're not paying taxes, the U.S. gov. does not want to help you. So the hate that immigrants receive is completely unjustified, they're just easy targets for Trumpian politicians.
@@robertcook9264 Yes, In Texas. The border falls under Federal Jurisdiction and the majority of illegal migrants typically stay in or close to border states..
I live in a big city but I know how to get away. I have 10's of thousands of dollars in hunting fishing and survival gear. I do it for fun but I could do it as a means of survival if need be. My grandfather taught me when I was a kid how to take everything I need from the land. You could drop me off in the artic circle in my underwear and I'd survive.
Hi Ms Tulip. I understand why you want to think this. You want to feel safe. You want to feel okay. You are not safe. You are not okay. No amount of delusion will make it so. If you live in the lower 48, you are not okay. If you live in Alaska or Hawaii, then you are done for and it's not worth considering. Think it thru. At any moment, the undesirables can drive to your location and be amongst you. Are those around you prepared to do the unpleasantness to maintain order? It's gonna get REAL 1820's.
Dude, I want to say: I've followed your insights off and on since the hoary old days of the pandemic when I wanted to do some projects and cursed the prices at Home Despot. Your presentation style, just how you talk to the audience, has REALLY gone over the top. You sound like you've done this forever. You were great in 2020, and you have really honed your speaking skills and naturalness to the present day. It's hard won I'm sure. Keep it up! 💯
@@robertcook9264 When the One who keeps your heart beating calls you to accounts, you'll deeply rue denying He who willingly hung on it. As a matter of fact, I'll wager you $#*+ your pants.
God gave you a body and a brain so you can contribute to society. in return for your contributions society will exchange money which you can exchange for the life hours others traded for services and products.
I agree everyone has a different situation and they need to figure out how to position themselves. I got some good ideas from your videos like putting in a garden, learning how to can food, filled my deep freezer with wild game, and investing more into my stocks and ETFs. Best move so far was giving up gambling and putting that money down on my last credit card debt. So far so good! Thanks for your time Simon!👍👍👍
Nothing wrong with preparing but focusing just on that does not get you far. Keep growing regardless, keep pushing forward. Move away from fear. Watching youtube videos can become an addicition and lead to procrastination.
Invest in Bitcoin before retiring by diversifying across assets, allocating a small portion of your portfolio, staying updated on market trends, and considering long-term holding to balance risk and growth.
I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?
The side by side comparison, 2 people at the same job/salary etc. with different mindsets. One living in pleasure (toys, nites out etc), the other stocking cash and eating peanut butter....they both experience highs and lows, one on the way in, the other on the way out, of an economic downturn.
The last few years have been Hard for me. recently i applied for a job, passed the checks and was accapted. i am scheduled a trial period next week and hopefully it'll be a stable ground to stand on and start with, to later develop and invest. i Appriciate the content.
I believe it is a mistake to discount a person's opinion just because his 'credentials' do not impress. My 'credentials' are not impressive but I am more right about the economy and other things than most. That is not to say I hang on every word of the Uneducated economist, but I have learned from him.
I’ve listened to the UE for 4 years. What a great dude. I have two bucket list items before I die.: A fly along in a fighter jet and a one-day hangout with rhe UE and my two sons. One thing I learned in a UE video a long time ago …. Just picture yourself at that place… the place that seems just out of reach. Imagine yourself there and think yourself there. With effort and sacrifice, you will get there and accomplish that vision. Thank you UE for creating so much great content over the many years. You are a beacon of light for so many of us.
"The state is the great fictitious entity by which everyone seeks to live at the expense of everyone else." ~ Frédéric Bastiat 🎯 Voluntaryism/Anarchism OR BUST! 😎☯️🖖🏻
Anarchism is a transitional period and that is all because “In reality the dominion of an organized minority, obeying a single impulse, over the unorganized majority is inevitable. The power of any minority is irresistable as against each single individual in the majority, who stands alone before the totality of the organized minority. A hundred men acting uniformly in concert, with a common understanding, will triumph over a thousand men who are not in accord and can therefore be dealt with one by one.” - Gaetano Mosca. Anarchists love to believe they are above it all but the reality is that they are crushed by organized forces every single time for a reason
We have to figure out a way that we can pay people who do real work, real wages. The financialization of the economy - they inflate, then deflate, inflate and then deflate, repeat until they have all the money and all the labor for free. Only they know when they will inflate and deflate, and so we always miss the boat. It is just a game that rich people play to take all your money and not have to work and do anything that is actually productive. Working people have to be very bright to actually get paid what they are worth and not have their labor completely devalued. Love the pep talks, but how many jobs does a hard working man have to have to make it in the economy. My grandfather stretched leather and my grandmother stayed home and he owned a house and had time off, healthcare, etc. We need someone who politically fights for people who do real things. God Bless.
As a former software engineer and current AI investor, I'm convinced AI will cause the next economic collapse due to unemployment. Most people will be blindsided because they don't understand AI. If you interact with a computer all day you will lose your job in the next few years unless you are in the top 10% of your field. If you're white-collar, you're in danger. AI is already smarter than most people in most white-collar fields. And unlike previous workplace revolutions, you won't be able to transition to another job. Blue-collar jobs that require dexterity will last longer. All the AI experts know this upheaval is about to happen and are pushing UBI. It won't work, but that's a whole different subject. What can the populace do to prepare? I don't know. And neither does anyone else. There are a few post-labor economic theories and assumptions, but they can all be easily debunked because they have huge holes or faulty assumptions. I'm retired and have invested knowing this is coming, but I have technical knowledge that most people will never have, so your results would likely be different than mine. We're heading into uncharted territory. Good luck to us all.
Yes but just like in the agricultural revolution farmers learned to work machiney and in the industrial revolution workers needed to service the machines, now the white collar field will be maintaining the AI's.
@michaelh6667 You cannot put the toothpaste back in the tube. I spent 40 years as an aircraft mechanic, they tried to automate this job. No matter what they did , they could not do better than a big brain with lots of training and experience. Here is just one example. I boarded a flight after the passengers deplaned. The pilot reported a crunching sound like aluminum collapsing from under her seat. I was stumped. I sent a junior mechanic to do visual inspection on the outside of the aircraft in the vicinity of the cockpit. I sat in the pilot's seat racking my brain trying to visualize what would cause this sound. I dropped my left hand down by my side and it landed on a water bottle. I pulled out the water bottle and found it half full but the plastic had collapsed. From experience I realized this was the source of the sound. At cruise altitude the pilot had opened the bottle and consumed the water, she closed the bottle with a reduced cabin altitude air in the empty space in the bottle. When the aircraft came in for landing the cabin altitude was much higher and collapsed the bottle with a loud crunching noise. I am wondering how AI would find that? I have many stories like this.
@@therichbuddha3277 AI will maintain AI. Robots will maintain robots. There will only be a few very high-IQ individuals needed to verify things. And once we reach Artificial Superintelligence, we won't be needed. We won't even understand how AI "thinks."
Once Covid hit, we had to retool our business. It took three months and a lot of uncertainty, but we actually came back fast and now we are pushing business away. We now see it as a 'stress' test, and we passed with flying colors. We live well within our means. Our policy... ...NO DEBT.
One VERY important thing that people especially AMERICAN’S should do to prepare economicly. Do NOT live outside your means and STOP trying to compete with the Jone’s with materialistic items. American’s like to be in dedit and buy things they do NOT need! For example I have a drier, but I do not use it. I hang my cloths. My electric bill is a lot lower and my cloths will last longer.
What generally makes all economist correct in any prediction or forecast they make is simple… it’s time. As long as you disconnect time from any economic prediction, you will eventually be correct. Market falls 20% in a two week period… boom… there’s your collapse. … Market pops 15% in a couple weeks, there you have your market boom. Just pick one, stick with it, wait a while, and you will be a genius.
If they had not announced they achieved AGI this year, I would say we have a chance in 2025. But being that AGI has been achieved, and they are already calling 2025 "the year of the layoff", we're pretty much doomed.☠
The Enormous Amount Of Work You Obviously Put Into This Video Delivers SeemLessLy A Brilliant And All EnCompassing Summation Of All The Parameters To Consider To Really Get A Handle Of Ones Finance For The Short And Long Term It Gives One Wood To The Planks
I see this coming for a long time and it will unfold soon on a global level. My steps: #1 Reduce your fix cost to zero. (If possible) #2 produce a large % of your own power and heat through solar, have off grid capabilities. #3 Have cash and food for 3 months at least. #4 Have no depths. #5 Maintain a powerful local network of contacts & friends to exchange, trade, barter and small jobs to maintain max resilience.
I’m 73 and have seen some pretty hairy economic times in my life. What you do with your money after you make it, is what matters. Stay away from crypto, precious metals, real estate, and equities. I’m 100% in short term U.S. Treasuries. We are in an “everything” bubble that will start with recession and then a reflation much like the lost decade of the 1970s. Most of you kids, only know the post great financial crisis economy, where equities and crypto have been king. Cash and liquidity in a crisis economy is of paramount importance. Remember, it’s not return on principal, but return of principal. With interest rates, taxes, and insurance, houses are a liability, not an asset.
Re. "Stay away fm precious metals"? A broad category. Gold is proven. Short term treasuries in part, but they will not protect you from significant inflation.
My man, we got a fighter here. I'm on the same path building my business called Monarch Cyber Solutions. We do digital marketing, website management, and google workspace setup and management among other things. We're two IT techs with way too much experience and way too little patience with the IT industry as it currently is and we decided we wanted to work for ourselves instead of an employer. I'm not scared of the WEF's agenda because I'm preparing.
Listen handsome, I seldom comment on your channel. But I do listen. You are correct on all points. At 60 y.o. if I hadn't done the things you're describing beginning when I was only 20, I'd be destitute today. There's a little more too it. You must also make up for your mistakes. Id be a multi millionaire today if i had made no financial mistakes along the way. #1. Figure out what can work for you beginning now, not necessarily what grand dad did. I knew someone who made a fortune in Alameda California buying Victorian cottages, cleaning them up and selling them on land contract to navy officers. Most of the time, when the officer got a transfer, they handed him the keys!! That door was closed to me somi bought 2 families. I fixed them up and sold them at 7 years. #2 don't go into a partnership. Ever. Do it yourself or not at all. Wives want everything now and don't care about business partnerships. This turns husbands into bad business partners. #3 learn what you can fix and what you need a pro for. Find the right pro and treat him well. I don't dig wells or finish hardwood floors but i concurred my mild fear of heights and I do roofing when i need too.
Valid point but at the same time, I am retired on Social Security, so I have a certain amount of time and besides that I definitely know the difference between store-bought vegetables and fruits versus homegrown
You are me and i an we. Meaning, been in your shoes, just a couple of decades ahead. My wife and I figured out random hustles and side money, when the lumber mills were down seasonally and economically. We saw the writing on the wall. We developed a seasonal business, that booms while the mill is slow. It was a rough start fir us, but when the economy collapsed in 08, we went full time with the side gig. Its what we live on now. But.. we also have a travel trailer to switch between locations as needed.
So...even if you get the skills, there's no guarantees it'll ever pay off. Programming for instance. Me and my closest were planning on cashing on of wfh dev. jobs. We learned java by heart and a slew of other tools and languages. Some of us got certs and degrees, some didn't. None of us could get hired... literally none of us. What makes it horrendously bad is the fact that what companies want to see is a person who can be a corporation in themselves...which beckons the question...if you're looking for people who can be the business, why wouldn't they...just started their own. These were all entry level jobs btw...the only offer one of the group got was being a glorified wiki editor and one was offered a spot literally sending a few emails every day. In the last round of interviews, they both got the boot. Now combined, the whole group bet around a quarter mil. in lost time, effort, etc. wtf was the point?
Be the first one at the grocery store, Can food, dry food, medication, ammunition Alcohol, cigarettes, weed, gas. Anything else will be worthless in a "collapse"
I think a full collapse is highly unlikely in the US. More likely we have a mean reversion to global living standards (e.g.,More division between rich and poor, inability to fund social programs, infrastructure etc.) This will probably be facilitated through the increased automation, offshoring etc of jobs that we’ve already been seeing… plus a melt up as we print money and deficit spend over the coming decade. The coming years may be the last years where it’s reasonably attainable to be on the other side of the class wedge by acquiring assets etc. Respect to Simon for getting the word out there. Hopefully some take action to help themselves and their family.
I met my billionaire mentor in the early 2000s. When the real estate crash happened in 2006-2012, he taught me what to look for in regards to pattern "while " it was happening. I was suffering financially, but he needed to "show " me the "patterns" in order for me to understand. He's a brilliant man and a brilliant teacher Together with his children, we've been preparing for this crash we're currently in since 2015. This crash is a once in a lifetime crash which will dwarf the 2006- 2012 crash, the 1970s and perhaps the 1930s crash. We are ready.
At a certain point in my life, I put my assets into thirds. One third in metals, one third in investments, one third in cash - hoping that two groups might fall but the other one might balance out the other two. After 20 years, so far, so good. Remember that making money is one thing but, keeping what you have is also important.
Thumb nail is misleading. Economic uncertantity and economic collapse is very different. This is general financial advice for any time. If there is a actual collapse people won't be able to get all of their money out of the bank bc it doesn't actually exist in a bank. All the propped up value of a home, stocks, gold disappears bc no one has money to buy it. In a true collapse all you have is land, tools weapons, skills and food. Everything else is meaningless
What exactly is the situation in an economic collapse/chaos. Is third world living considered an economic collapse or economic collapse is only relative to your present lifestyle?
The sky IS falling, but the outcome is so bad that most of society has resorted to magical thinking, hoping that if they keep humming, the evil events will bypass them. Sort of like a religious cult. Here is a simple brain exercise, imagine what you and your family would do if you missed 9 consecutive meals, with no water, no heat, no power, no flushing toilets . Now think what everyone else around you would do.
The very few ultra-wealthy folks I know are really good at one thing. They strive to be the best at what they do and have very little competition. They are not generalists who "hustle" to make a dollar in one way after the next. They capitalize on one thing that they have honed for many years. For example, one guy distributes all of the CO2 in a major US city. Anywhere that sells carbonated beverages--restaurants, gas stations, etc--he is the guy. Decades of focused work towards monopoly in his industry market. He started as a ditch digger and slowly built his distribution network. As Peter Thiel states in his book, Zero to One, monopoly profit should be the goal of any enterprise.
I hope you’ve heard about the “Great Taking.” I’d like to know what your strategy is on this. From what I hear the bankers have already written laws that they can steal every time you’ve got, no matter where it’s located! Stocks, bonds and maybe even your property!
Here is my farm life! Buy land 30% timber/70% planting/grazing, commercial for sale animals, greenhouse gardens, well system, Wood fire/boiler system for home heating, hot water and generator production of energy, solar collectors, shop, tractor and implements, heirloom crop and garden seed and a latter-day saint' (end of world survival manual) that is updated annually for the last 225 years!!!!!!!
I'm glad i sold all my silver coins years ago. Having coins is stressful because you're worried about being robbed and selling them is not easy plus you're dealing with shady people. Never Again.
If you have to work everyday stack more gold and silver where you don't have to work if you can at least 1000 ounces of silver 100 ounces of goodwill make you lots of money on daily metal markets...
this is more then an 18.6 cycle because if you look at a graph from the year 1890-2024 only 2000-2008 and 2013-2023 have had bubbles NOT even the housing crash in 1930 was it in a bubble this isnt cyclical this is historic
UK "...Food and non-alcoholic beverage prices rose dramatically by approximately 25% between January 2022 and January 2024" A poor harvest/ supply chain disruption could easily trigger hyper inflation. Non perishable food at this point in time, IMO, is a sensible investment option.
@@glassover6420 name 3 things that have "doubled or tripled" in price in the last year. Grabbing a beer and popcorn is in the microwave, this is gonna be good.
If you're trying to make money through any means possible, look into the Pokémon market. There's little to learn, and it's something you and your son could totally get into with having a physical representation of markets. What cards go up, what go down? How is the graded market on the card vs. raw? You don't have to spend much money, or any at all. The best part is going to local card shows and watching the trades, or making some yourself.
If nations reduce the use of the dollar or if inequality grows so much more then yes the economy will collapse but unless those conditions are met barring catastrophic events it won't. If the peasants die and struggle it won't affect the economy
A depression/recession is a great thing, it makes the dollar more powerful through deflation. We lose value to our dollar with inflation. We definitely need to correct and audit our government spending and make sure our government can pay its debts. Hell, it should learn how to save and then spend responsibly with actual oversight. Banks and the wealthy elites hate it, because they lose money and power with deflation.
The best financial decision was made for me, my wife of three months divorced me. It took me 15 years to recover financially from that, to pay off all our debts and retain the matrimonial home. It forced me to cut back expenses to the bare bone. I was debt free after that, no mortgage, car payments, credit card debt or line of credit debt. I remained debt free since then. I lived alone for 37 years, living like a monk/hermit to save money and pay down the debt, after that it became a habit. I was able to retire early and have had no financial worries since. I did not work outside of my full time job, did not do any overtime, and have not done paid work in my 15 years of retirement. Now getting on in years, I have learn how to spend all my savings before I meet my maker. I have no diplomas or degrees, I worked 40 years in a blue collar job.
You got the jackpot with her !
God that sounds awful
Do you have any kids?
Consider: 15 years to recover from a 3 month marriage.
@@dyingculture1 financially, he never recovered emotionally, no judgement.
I been hearing about this collapse for the last 10 years. And it still hasn’t happened. I doubt it ever will
it wont be a collapse but when trump gets in he's going to kick off the trade wars and anything that isn't made here in the US is going to become astronomically expensive.
Cry Wolf type a situation
It keeps the clicks coming, ups the RUclips paycheck
These types of things take a long time to mature but when it collapses its insane
Are you guys suggesting that our situation is the same as it was ten years ago? You see no evidence of decline? Nothing in chemistry or nature happens in a linear fashion, it is always exponential. And to me, it seems like that parabolic curve is ramping up right about now. But if you see it another way then don't prepare. Its a free country. Still...
Take yourself out of the equation, just be invisible. Been minding my own business for years. I'm self-sufficient, so I just take care of myself and ignore what's going on around me. Know my surrounds and stay out of everybody else's business. This kept me out of trouble for years and if you can't see my circle, than I don't exist.
This is good advice for people who can accept their lack of sway in the outside world. I say let them figure it out the hard way
Living in South Texas, the first, second, and third Gen immigrants will buy a $75,000 truck and rent a shack; but what scares me is that as we have one Mazda 3 and run a small business and do all the right things and keep our mortgaged home up (we’ve had multiple attempted break ins already) and you feel the hatred…
We’ve just imported another 30-40 million new debtors the last 4 years and as that separation continues like we talk about as they demand more and more “help” from govt… are they going to let us keep our assets?
UE might say, “what if???” And that’s true. All we can do is position ourselves in the best way possible considering what we know.
We are trying to buy a home in Oklahoma right now. We are praying and hoping. People who don’t live in a majority non-American area have no idea how blessed they really are, crime is out of control.
Thank the Democrats!
1.) You shouldn't hate on immigrants when they are still the back bone of this country's agricultural and blue-collar work force. All of the groceries you purchase have been picked or packaged by someone who most likely immigrated here.
2.) "imported another 30-40 million new debtors..." is a crazy statement when they only immigrate here because the US gov. f*cked up their countries in the first place.
3.) I hate to break it to you, but moving to Oklahoma or moving to a "more American" (white) area isn't going to save you from what's about to happen. You're still going to have armed break-in attempts, but it'll be by people with your same skin tone.
Also, if you don't have U.S. citizenship, you can't benefit from US welfare programs. If you're not paying taxes, the U.S. gov. does not want to help you. So the hate that immigrants receive is completely unjustified, they're just easy targets for Trumpian politicians.
@@vcash1112in texas?
@@robertcook9264 Yes, In Texas. The border falls under Federal Jurisdiction and the majority of illegal migrants typically stay in or close to border states..
They bring third world mentality with them. They are not prepared to live the way we live, just want the stuff.
Equity is being stolen by property tax.
Taxing you on unrealized gains
I live in a town where people still know how to work hard, grow food, share - we'll be fine. The cities are a different animal all together
I live in a big city but I know how to get away. I have 10's of thousands of dollars in hunting fishing and survival gear. I do it for fun but I could do it as a means of survival if need be. My grandfather taught me when I was a kid how to take everything I need from the land. You could drop me off in the artic circle in my underwear and I'd survive.
that's what you think
😂
You need us in the cities
You're going to figure it out quickly
@@wantsome-zs5sq Practice Practice Practice
Hi Ms Tulip. I understand why you want to think this. You want to feel safe. You want to feel okay.
You are not safe.
You are not okay.
No amount of delusion will make it so.
If you live in the lower 48, you are not okay. If you live in Alaska or Hawaii, then you are done for and it's not worth considering.
Think it thru. At any moment, the undesirables can drive to your location and be amongst you. Are those around you prepared to do the unpleasantness to maintain order?
It's gonna get REAL 1820's.
Dude, I want to say: I've followed your insights off and on since the hoary old days of the pandemic when I wanted to do some projects and cursed the prices at Home Despot. Your presentation style, just how you talk to the audience, has REALLY gone over the top. You sound like you've done this forever. You were great in 2020, and you have really honed your speaking skills and naturalness to the present day. It's hard won I'm sure. Keep it up! 💯
doesnt your neck get sore talking / sitting sideways? my neck is getting sore watching this. LOLOLOL
I am not as obsessed with spending all my tine chasing money. I serve a different GOD, I am free.
Why are you on an economics channel then? Just to wave your cross at us?
Love it!
I don't serve any god, I am free. You are a slave to your religion.
@@robertcook9264 When the One who keeps your heart beating calls you to accounts, you'll deeply rue denying He who willingly hung on it. As a matter of fact, I'll wager you $#*+ your pants.
God gave you a body and a brain so you can contribute to society. in return for your contributions society will exchange money which you can exchange for the life hours others traded for services and products.
Warren Buffet once said "show me an extremely wealthy economist".
Business isnt the same as economist. Businessmen study business. Economists study the relationship between producer and consumer
You didn't answer the question. @@plantmanstudios
I agree everyone has a different situation and they need to figure out how to position themselves. I got some good ideas from your videos like putting in a garden, learning how to can food, filled my deep freezer with wild game, and investing more into my stocks and ETFs.
Best move so far was giving up gambling and putting that money down on my last credit card debt. So far so good!
Thanks for your time Simon!👍👍👍
This is where I am right now. I save as much as I can, I've changed my mindset to be a saver, and no toys, no debt.
I started tractor mowing small ranches till it's. Now my main income
I have 3 side hustles, which keeps me out of debt.
Nothing wrong with preparing but focusing just on that does not get you far. Keep growing regardless, keep pushing forward. Move away from fear. Watching youtube videos can become an addicition and lead to procrastination.
Invest in Bitcoin before retiring by diversifying across assets, allocating a small portion of your portfolio, staying updated on market trends, and considering long-term holding to balance risk and growth.
Many new tra-ders face challenges without proper guidance. I found success by learning from James Clark's expertise.
@@WinniAltieriExactly, that's why I always rely on Mr. J. Clark's guidance in everything I do.
I recently sold half my tech stock holdings due to all-time highs, leaving me with $400k. Should I invest in ETFs now or wait for a market correction considering potential inflation?
Celebrating a $30k stock portfolio today from a $6k start. Investing wisely has given me time for family and future plans.
The side by side comparison, 2 people at the same job/salary etc. with different mindsets. One living in pleasure (toys, nites out etc), the other stocking cash and eating peanut butter....they both experience highs and lows, one on the way in, the other on the way out, of an economic downturn.
Such a perfect analogy!
Money is good now but what will you do when the promise note dont work ,
The sloth tend to gravitate toward the densely populated areas thinking that where the low hanging fruit is..
The last few years have been Hard for me. recently i applied for a job, passed the checks and was accapted. i am scheduled a trial period next week and hopefully it'll be a stable ground to stand on and start with, to later develop and invest. i Appriciate the content.
When an uneducated youtuber making videos in his car is giving financial advise we are getting close to the peak.
37:31
Lol,
I believe it is a mistake to discount a person's opinion just because his 'credentials' do not impress. My 'credentials' are not impressive but I am more right about the economy and other things than most. That is not to say I hang on every word of the Uneducated economist, but I have learned from him.
I've been doing this for 7 years now,
@@ronaldshiffman9171 your profile pic looks like you barricaded yourself in a bunker with 500 pounds of beans and rice and am mo
I believe a great way to prepare is by being debt free.
There is a war on homeless people.
Van-life etc ain't easy now because cities, towns are Nimby
I love hearing the rain in your videos!
I’ve listened to the UE for 4 years. What a great dude. I have two bucket list items before I die.: A fly along in a fighter jet and a one-day hangout with rhe UE and my two sons. One thing I learned in a UE video a long time ago …. Just picture yourself at that place… the place that seems just out of reach. Imagine yourself there and think yourself there. With effort and sacrifice, you will get there and accomplish that vision.
Thank you UE for creating so much great content over the many years. You are a beacon of light for so many of us.
Bro... Thank you for the comment 🤙
What good is money when the soul is being judge.
What good is the soul if it is suffering in this life? You need balance, money is a very good servant but it's a terrible master.
"The state is the great fictitious entity by which everyone seeks to live at the expense of everyone else."
~ Frédéric Bastiat 🎯
Voluntaryism/Anarchism OR BUST! 😎☯️🖖🏻
Anarchism is a transitional period and that is all because “In reality the dominion of an organized minority, obeying a single impulse, over the unorganized majority is inevitable. The power of any minority is irresistable as against each single individual in the majority, who stands alone before the totality of the organized minority. A hundred men acting uniformly in concert, with a common understanding, will triumph over a thousand men who are not in accord and can therefore be dealt with one by one.” - Gaetano Mosca. Anarchists love to believe they are above it all but the reality is that they are crushed by organized forces every single time for a reason
I used to live in my vehicle too. Saved a lot of money that way!
I wish I had done that when I moved out from home. I could have but....
Thanks for being so real Simon.
We have to figure out a way that we can pay people who do real work, real wages. The financialization of the economy - they inflate, then deflate, inflate and then deflate, repeat until they have all the money and all the labor for free. Only they know when they will inflate and deflate, and so we always miss the boat. It is just a game that rich people play to take all your money and not have to work and do anything that is actually productive. Working people have to be very bright to actually get paid what they are worth and not have their labor completely devalued. Love the pep talks, but how many jobs does a hard working man have to have to make it in the economy. My grandfather stretched leather and my grandmother stayed home and he owned a house and had time off, healthcare, etc. We need someone who politically fights for people who do real things. God Bless.
As a former software engineer and current AI investor, I'm convinced AI will cause the next economic collapse due to unemployment. Most people will be blindsided because they don't understand AI. If you interact with a computer all day you will lose your job in the next few years unless you are in the top 10% of your field. If you're white-collar, you're in danger. AI is already smarter than most people in most white-collar fields. And unlike previous workplace revolutions, you won't be able to transition to another job. Blue-collar jobs that require dexterity will last longer. All the AI experts know this upheaval is about to happen and are pushing UBI. It won't work, but that's a whole different subject. What can the populace do to prepare? I don't know. And neither does anyone else. There are a few post-labor economic theories and assumptions, but they can all be easily debunked because they have huge holes or faulty assumptions. I'm retired and have invested knowing this is coming, but I have technical knowledge that most people will never have, so your results would likely be different than mine. We're heading into uncharted territory. Good luck to us all.
Yes but just like in the agricultural revolution farmers learned to work machiney and in the industrial revolution workers needed to service the machines, now the white collar field will be maintaining the AI's.
Very TRue AI will make all the women office jobs obsolete
That's why Ai needs to be regulated, just one reason.
@michaelh6667 You cannot put the toothpaste back in the tube. I spent 40 years as an aircraft mechanic, they tried to automate this job. No matter what they did , they could not do better than a big brain with lots of training and experience. Here is just one example. I boarded a flight after the passengers deplaned. The pilot reported a crunching sound like aluminum collapsing from under her seat. I was stumped. I sent a junior mechanic to do visual inspection on the outside of the aircraft in the vicinity of the cockpit. I sat in the pilot's seat racking my brain trying to visualize what would cause this sound. I dropped my left hand down by my side and it landed on a water bottle. I pulled out the water bottle and found it half full but the plastic had collapsed. From experience I realized this was the source of the sound. At cruise altitude the pilot had opened the bottle and consumed the water, she closed the bottle with a reduced cabin altitude air in the empty space in the bottle. When the aircraft came in for landing the cabin altitude was much higher and collapsed the bottle with a loud crunching noise. I am wondering how AI would find that? I have many stories like this.
@@therichbuddha3277 AI will maintain AI. Robots will maintain robots. There will only be a few very high-IQ individuals needed to verify things. And once we reach Artificial Superintelligence, we won't be needed. We won't even understand how AI "thinks."
Once Covid hit, we had to retool our business. It took three months and a lot of uncertainty, but we actually came back fast and now we are pushing business away. We now see it as a 'stress' test, and we passed with flying colors. We live well within our means. Our policy... ...NO DEBT.
One VERY important thing that people especially AMERICAN’S should do to prepare economicly. Do NOT live outside your means and STOP trying to compete with the Jone’s with materialistic items. American’s like to be in dedit and buy things they do NOT need!
For example I have a drier, but I do not use it. I hang my cloths. My electric bill is a lot lower and my cloths will last longer.
What generally makes all economist correct in any prediction or forecast they make is simple… it’s time. As long as you disconnect time from any economic prediction, you will eventually be correct. Market falls 20% in a two week period… boom… there’s your collapse. … Market pops 15% in a couple weeks, there you have your market boom. Just pick one, stick with it, wait a while, and you will be a genius.
Position yourself in putting your faith and Trust in Jesus Christ as your personal Lord and Savior
As metal prices go higher it becomes harder to stack them up
Someone asks me if I know a handyman once a week, I was thinking same thing
My elderly neighbor called me this morning asking.
If they had not announced they achieved AGI this year, I would say we have a chance in 2025. But being that AGI has been achieved, and they are already calling 2025 "the year of the layoff", we're pretty much doomed.☠
The Enormous Amount Of Work
You Obviously Put Into This Video
Delivers SeemLessLy
A Brilliant And All EnCompassing
Summation
Of All The Parameters
To Consider
To Really Get A Handle
Of Ones Finance
For The Short And Long Term
It Gives One Wood
To The Planks
I see this coming for a long time and it will unfold soon on a global level. My steps: #1 Reduce your fix cost to zero. (If possible) #2 produce a large % of your own power and heat through solar, have off grid capabilities. #3 Have cash and food for 3 months at least. #4 Have no depths. #5 Maintain a powerful local network of contacts & friends to exchange, trade, barter and small jobs to maintain max resilience.
I’m 73 and have seen some pretty hairy economic times in my life. What you do with your money after you make it, is what matters. Stay away from crypto, precious metals, real estate, and equities. I’m 100% in short term U.S. Treasuries. We are in an “everything” bubble that will start with recession and then a reflation much like the lost decade of the 1970s. Most of you kids, only know the post great financial crisis economy, where equities and crypto have been king. Cash and liquidity in a crisis economy is of paramount importance. Remember, it’s not return on principal, but return of principal. With interest rates, taxes, and insurance, houses are a liability, not an asset.
Re. "Stay away fm precious metals"? A broad category. Gold is proven. Short term treasuries in part, but they will not protect you from significant inflation.
Dude where do you keep your money? This coming administration is getting rid of the FDIC so think about it.
Yeah yeah gold and silver, but don't forget lead
I have been moving into old silver coins, but everyone I know are laughing about my obsession with silver coins and only buys indexfunds.
Silver is a good investment, don't listen to people.
Do both.. diversify
Love your bingo side hustle... the old ladies must love you
Yes they do
My man, we got a fighter here. I'm on the same path building my business called Monarch Cyber Solutions. We do digital marketing, website management, and google workspace setup and management among other things. We're two IT techs with way too much experience and way too little patience with the IT industry as it currently is and we decided we wanted to work for ourselves instead of an employer. I'm not scared of the WEF's agenda because I'm preparing.
Bro im in IT and I've been considering doing this as well
Shoot I recently left my last gig as a data analyst. If y’all need another hand let me know 🙂.
Listen handsome, I seldom comment on your channel. But I do listen. You are correct on all points. At 60 y.o. if I hadn't done the things you're describing beginning when I was only 20, I'd be destitute today. There's a little more too it. You must also make up for your mistakes. Id be a multi millionaire today if i had made no financial mistakes along the way. #1. Figure out what can work for you beginning now, not necessarily what grand dad did. I knew someone who made a fortune in Alameda California buying Victorian cottages, cleaning them up and selling them on land contract to navy officers. Most of the time, when the officer got a transfer, they handed him the keys!! That door was closed to me somi bought 2 families. I fixed them up and sold them at 7 years. #2 don't go into a partnership. Ever. Do it yourself or not at all. Wives want everything now and don't care about business partnerships. This turns husbands into bad business partners. #3 learn what you can fix and what you need a pro for. Find the right pro and treat him well. I don't dig wells or finish hardwood floors but i concurred my mild fear of heights and I do roofing when i need too.
Absolutely correct! Quit buying up and trim down and live simple. Buy seeds
Plants you grow in the typical garden have very low caloric value. Many consume more calories working a garden than the vegetables return back to you.
Buy some chicks and a rooster.
Valid point but at the same time, I am retired on Social Security, so I have a certain amount of time and besides that I definitely know the difference between store-bought vegetables and fruits versus homegrown
This guy must be very wealthy to give advice to others. Stay safe guys
THE REDISTRIBUTION OF WEALTH IS IMPERATIVE.
HAPPENS WITHOUT ANY DOUBT.
THEREFORE THE STOCK MARKETS CRASH.
ALL OF THEM.
AND SO IT IS!
BLESSINGS!
You are me and i an we. Meaning, been in your shoes, just a couple of decades ahead. My wife and I figured out random hustles and side money, when the lumber mills were down seasonally and economically. We saw the writing on the wall. We developed a seasonal business, that booms while the mill is slow. It was a rough start fir us, but when the economy collapsed in 08, we went full time with the side gig. Its what we live on now. But.. we also have a travel trailer to switch between locations as needed.
OMG that rain sounds relaxing. We've been in drought for years out east
When the government panics because of its debt, SS, government pensions and pay checks will be reduced, or canceled or stopped "contemporarily"
Jesus Christ is the only Truth
And his Father. PSALM 83.18 KJV ❤
I wont lie been hearing this since 2018 legit no lie...lots of every year constant dollar collapse i guess eventually a person will be right
People dying suddenly and families are collapsing. Doesn’t always mean financial…
Thank you Simon
So...even if you get the skills, there's no guarantees it'll ever pay off. Programming for instance.
Me and my closest were planning on cashing on of wfh dev. jobs. We learned java by heart and a slew of other tools and languages. Some of us got certs and degrees, some didn't.
None of us could get hired... literally none of us. What makes it horrendously bad is the fact that what companies want to see is a person who can be a corporation in themselves...which beckons the question...if you're looking for people who can be the business, why wouldn't they...just started their own.
These were all entry level jobs btw...the only offer one of the group got was being a glorified wiki editor and one was offered a spot literally sending a few emails every day. In the last round of interviews, they both got the boot.
Now combined, the whole group bet around a quarter mil. in lost time, effort, etc. wtf was the point?
Should have bought land together and developed an intentional community.
Thank you! I needed to hear this right now.
I retired early from investing. There is always a way to make money no matter what......
Be the first one at the grocery store, Can food, dry food, medication, ammunition Alcohol, cigarettes, weed, gas. Anything else will be worthless in a "collapse"
Can't can what you don't have, canning is the easy part and takes an hour to do, even the first time.
I think a full collapse is highly unlikely in the US. More likely we have a mean reversion to global living standards (e.g.,More division between rich and poor, inability to fund social programs, infrastructure etc.) This will probably be facilitated through the increased automation, offshoring etc of jobs that we’ve already been seeing… plus a melt up as we print money and deficit spend over the coming decade. The coming years may be the last years where it’s reasonably attainable to be on the other side of the class wedge by acquiring assets etc. Respect to Simon for getting the word out there. Hopefully some take action to help themselves and their family.
I met my billionaire mentor in the early 2000s. When the real estate crash happened in 2006-2012, he taught me what to look for in regards to pattern "while " it was happening. I was suffering financially, but he needed to "show " me the "patterns" in order for me to understand. He's a brilliant man and a brilliant teacher
Together with his children, we've been preparing for this crash we're currently in since 2015.
This crash is a once in a lifetime crash which will dwarf the 2006- 2012 crash, the 1970s and perhaps the 1930s crash.
We are ready.
The market would have to crash by 65% to get to 2015 levels. Hope you weren't sitting out that whole time
At a certain point in my life, I put my assets into thirds. One third in metals, one third in investments, one third in cash - hoping that two groups might fall but the other one might balance out the other two. After 20 years, so far, so good. Remember that making money is one thing but, keeping what you have is also important.
Thumb nail is misleading. Economic uncertantity and economic collapse is very different. This is general financial advice for any time. If there is a actual collapse people won't be able to get all of their money out of the bank bc it doesn't actually exist in a bank. All the propped up value of a home, stocks, gold disappears bc no one has money to buy it. In a true collapse all you have is land, tools weapons, skills and food. Everything else is meaningless
What exactly is the situation in an economic collapse/chaos. Is third world living considered an economic collapse or economic collapse is only relative to your present lifestyle?
The sky is falling, the sky is falling!!
I can make it so you never have to hear it from me ever again?
The sky IS falling, but the outcome is so bad that most of society has resorted to magical thinking, hoping that if they keep humming, the evil events will bypass them. Sort of like a religious cult. Here is a simple brain exercise, imagine what you and your family would do if you missed 9 consecutive meals, with no water, no heat, no power, no flushing toilets . Now think what everyone else around you would do.
401k is a lie. prove me wrong
You call Bingo! Fantastic! Fun as hell.
And he does dropshipping to. Economic ninjitsu 😂
The very few ultra-wealthy folks I know are really good at one thing. They strive to be the best at what they do and have very little competition. They are not generalists who "hustle" to make a dollar in one way after the next. They capitalize on one thing that they have honed for many years. For example, one guy distributes all of the CO2 in a major US city. Anywhere that sells carbonated beverages--restaurants, gas stations, etc--he is the guy. Decades of focused work towards monopoly in his industry market. He started as a ditch digger and slowly built his distribution network. As Peter Thiel states in his book, Zero to One, monopoly profit should be the goal of any enterprise.
Come on guys! A guy sitting in a crap car and seems to have nothing telling you what to do .
I hope you’ve heard about the “Great Taking.” I’d like to know what your strategy is on this. From what I hear the bankers have already written laws that they can steal every time you’ve got, no matter where it’s located! Stocks, bonds and maybe even your property!
Precious metal?
@@UneducatedEconomist FDR did
Best preparation advice at 37:31 guys!!! Buckle up.
Best infor. i have heard. Down to earth for the average working man. 👍👍👍👍👍👍👍👍😎
Silver is an industrial metal now. Stick with gold if you want metals
I like the idea of retiring and be homless. No prop tax, insurance, no maint repair. Just travel until I am tired of it.
Uneducated economist…Hell you are Johnny Cash!
Good stuff man
Amazing Channel! Keep it up!👍
Hey, you said earlier this year (2024) that lumber / Home Depot was in serious possibility of collapse !
Bro, if the economy didn't collapse when the whole world stopped during COVID, what makes you think it's going to happen anytime soon?
CHANCE FAVORS THE PREPARED! Happy Holidays to you and yours Simon!
Happy holidays!
Here is my farm life! Buy land 30% timber/70% planting/grazing, commercial for sale animals, greenhouse gardens, well system, Wood fire/boiler system for home heating, hot water and generator production of energy, solar collectors, shop, tractor and implements, heirloom crop and garden seed and a latter-day saint' (end of world survival manual) that is updated annually for the last 225 years!!!!!!!
I'm glad i sold all my silver coins years ago. Having coins is stressful because you're worried about being robbed and selling them is not easy plus you're dealing with shady people. Never Again.
How many times have you been robbed?
If you have to work everyday stack more gold and silver where you don't have to work if you can at least 1000 ounces of silver 100 ounces of goodwill make you lots of money on daily metal markets...
Google 18.6 year real estate cycle. Last top was 2007, the next top is 2025-26
this is more then an 18.6 cycle because if you look at a graph from the year 1890-2024 only 2000-2008 and 2013-2023 have had bubbles NOT even the housing crash in 1930 was it in a bubble this isnt cyclical this is historic
Great content
why cause a collapse when you can keep printing money to 50 T then 100 T
work hard for money that's basically worthless... good advice... you will own nothing and be happy.
You live in fear
Everywhere in the world Christmas in 2-day event 25th and 26th. So Merry Christmas to all.
With huge increases in the price of food, I've been investing in non-perishable food.
Hyper inflation is almost on us.
Inflation has been back to normal for over a year dude. Where have you been?
@@johnnynephrite6147yea since nearly everything has doubled and tripled so when it doubles again you will rethink your comfort with it.
UK "...Food and non-alcoholic beverage prices rose dramatically by approximately 25% between January 2022 and January 2024"
A poor harvest/ supply chain disruption could easily trigger hyper inflation.
Non perishable food at this point in time, IMO, is a sensible investment option.
@@glassover6420 name 3 things that have "doubled or tripled" in price in the last year. Grabbing a beer and popcorn is in the microwave, this is gonna be good.
@johnnynephrite6147 gas groceries car repair automotive products alcohol clothing is that enough im sure i can find more if i research it?
You’re on track… just a little behind.. 7 flow of income
If you're trying to make money through any means possible, look into the Pokémon market. There's little to learn, and it's something you and your son could totally get into with having a physical representation of markets. What cards go up, what go down? How is the graded market on the card vs. raw? You don't have to spend much money, or any at all. The best part is going to local card shows and watching the trades, or making some yourself.
I can't even take you seriously with no fuzzy dice.
Sounds like Don Lancaster's Incredible Secret Money Machine from the 1970s.
If nations reduce the use of the dollar or if inequality grows so much more then yes the economy will collapse but unless those conditions are met barring catastrophic events it won't. If the peasants die and struggle it won't affect the economy
What year is your Toyota truck? I'm guessing a 2003
2001 s10
How long was your vacation?
One week
How can you prepare for the 7 year tribulation?
Everyone says this, but it’s true. You need to get out of debt getting extra job to do. This would help and it gives you another source of income.
why not just tell the debt collectors to f off instead thats what ill do
A depression/recession is a great thing, it makes the dollar more powerful through deflation. We lose value to our dollar with inflation. We definitely need to correct and audit our government spending and make sure our government can pay its debts. Hell, it should learn how to save and then spend responsibly with actual oversight. Banks and the wealthy elites hate it, because they lose money and power with deflation.
it doesn't matter what you do if your currencies is being devalued rapidly truck driver by day a police officer at night it won't matter
Make 2X4s actual 2X4s again!
Your local independent sawmill do it custom