I would like to ask Biden one simple question: how can the unemployment be so low, when he just allowed 10 Million Migrants to come in and they are now unemployed residents living off the taxpayers money. I understand they aren’t collecting unemployment, but they are NOT EMPLOYED.
Wow, 140k. Wasn't it just a minute ago that you met one hundred thousand subscribers, Michael? I guess our obsession with wanting our negative situations validated is working for you. 😢
Yeah but you will pay anywhere between $400-$700 a month on property taxes and possible HOA fees to put that tent up. Its lose lose in the United Slaves of America!!
I'm a old man and everybody I know is riding on the struggle bus and we are heading for the cliff and it seems like the bus driver has his eyes closed... stay strong and buckle up...
They do lay offs, but don't cut the work those people did as well. The work is instead shafted onto other workers who are not compensated. It's maddening.
I'm a dentist who graduated 2 years ago and can't afford a house. I have a small private office ( barely paying rent). My fiance and I put sleeping bags and a camping stove in the back storage room and live there. I pray that my fiance stays with me . I always tell her times will get better. I hope she doesn't leave me . For those of you who find this unbelievable , there are many of my colleagues in similar straights. However, they are loathed to speak about it .
@@stephaniekerrI think the rent for his commercial use is so high he can’t. Wouldn’t matter. All his income goes to keeping the business up. 😢 I’m sure he’s got school loans ect.
@@hoppeanofasgard1365 For the record, JPL is a contractor. WE DO NOT GET PENSIONS. We have retirement funds 401k/403b like other non-government employees. FFS
Not everyone lives an extravagant lifestyle. I was living frugally, doing great until I was diagnosed with stage 4 cancer. As a result, I took a hit financially with unforeseen medical bills and everything associated with battling a major illness.
I run a wholesale automotive parts business and my revenue went from 11-13,000 a month to $6-7,000 a month since 2024 started. People dont have money to spend…
@@hoppeanofasgard1365 A lot of local competition and the initial start-up price was a bit high. It cost me roughly $25,000 to start and I didn’t start making a profit until month 2, and didn’t recoup the $25,000 until month 4. That is considered “accelerated growth” but its rare. I focused on perfecting mu business model rather than maximizing growth.
@@hoppeanofasgard1365 Looks like youtube deleted my response… Took me roughly $25,000. I have a few large local competitors. Difference is my business model and my “low” costs. Thats why Ive continued to exist.
Sir that is what i See...that is Logical...if the Inflation for Food and Rent is so damn high...how can People be Spending broadly to keep the Stock Market so high...and create a Boom Economy...??? makes no sense...i am in Asia and uts a wasteful free for all...poor People spending every dime on Junk Food and Crap...wasting Gas..with constant unnecessary Trips in Vehicles...you see dead businesses boarded up...but new construction and Parties every night in poor neighborhoods...?? post Covid Vax Brain...people are Mindless...selfindulgent...excessive...Weird...wonder when it will Blow like an overinflated Tire?
You are absolutely right and then through in a divorce on top of that and living in a throw away society...me me me... And here we are... stay strong and hang on...
I houseless! Five years now. Live in a cargo trailer and travel. Cost me around 1500 a month to live. I’m putting 2200 a month into savings. But people say I’m homeless and a bum. Lmao. Live below your income people. I’m nearing two years in savings reserve debt free. New truck and trailer are paid off.
I have friends with maxed out cc's, personal loans, $800-1k car payments, and paying $2000-2500 on rent in apartments... The reality check is coming hard and fast 😅
All i know to do is lower my rent. So i moved to my reservation. We have a huge garden so i can get my fresh vegetables that are in season for free. We have free WiFi. I don't pay for cable or phone. Lower your basic expenses where you can. I know it's rough out there. I only moved last year so before that i paid all the normal bills. This is the time to come up with ideas to use your money wisely. We need to go back to basics and do what we can to protect our natural environment. Be safe all 💜
As a retail worker of 15 years- When people can’t afford things - they start stealing. You have to come see the supermarkets here in Downtown San Diego. Every 30 mins a shoplifter comes in and security has to follow them around like a dog. You think that will stop it but they still steal on the way out.
I've seen the downfall of America coming for a long time now because all of our manufacturing jobs have been outsourced to China. The only thing left for Americans is government jobs, other union jobs, high tech jobs and fast food.
@brandonross1996 retirement is all but impossible now that pensions are gone. Maybe if you become a doctor or lawyer and save properly rather than going buck wild buying a 2 million dollar home, you know actually live below your means it'll be possible. People with 200k plus salaries have that luxury, as for the rest of us not really. Of course before a doctor or lawyer even can begin to save that they'd have to pay off enormous student loan debt which could take upwards of 7 years even with their salary, further emphasizing the fact that if they wanted to make it work they really should stick buying a modest middle of the road house.
The last thing the ruling class wants is 350 million people and growing all demanding higher wages, health care, retirement, vacation time and a nice house with a pool. Easier to start making life worse and expectations of a living standard lowered. All while the top are taking the majority of the productivity gains made from technological improvements
I work for UPS.. they had this plan in place well before the new contract was signed. They are changing the way they are structured.. downsizing and consolidating. It's been in the works since the current CEO has been here. They are using "low volume " as a shield against any negative feedback. But the volume is there..
@zachlafond2652 not surprising. UPS ceo has said that publicly, she doesn't care about delivering to people's homes. They make money doing it.. but not enough for her to take it seriously. She only wants high value accounts.. that ship air and things like medical supplies. She's killing UPS. She only knows how to (and is good at) increasing stock value but making cuts. She doesn't know how to(or care to) grow a company and make new money.
I am getting older, but every recession that we go through has been different. This one will be unique because the high-end paying jobs will lead the layoffs instead of manufacturing jobs. So I don't see tens of millions in layoffs but rather a few million jobs that will have a major impact on the economy. This will then be followed by service jobs as people spend less on expensive leisure activities, purchases, and experiences, such as restaurants and vacations.
Lol, CEOs don't get to choose stock prices. They're not "artificially high". They're just inflated (naturally) because dollars are worth less when you print trillions of extra dollars. And when you measure the price of anything with inflated dollars, it's going to be higher than it was before that inflation happened.
Ah, YT purged my comment. Funny. CEOs don't set stock prices, and inflation increases the price everything, including stocks. More dollars floating around -> higher prices for stocks.
You seemed to miss where our politicians have allowed corporations to buy into the housing market. Allowing China to buy into it and our land. That is q major issue.
We took our brother in law advice and help , where we were all able to retire early and saved money for Decades. Back in 1970 !!!! I started all my saving and working odd jobs while in high school. I have always said Spend Less, Save More !!! Debt free by the time you are 50 years old , but that situation will NOT apply here because of the crazy economy or more like a depression .
Even if you are debt free, you will always have property taxes increasing, Hoa fees, gas prices, water & gas & electric bills. Plus other monthly bills like phone, cable, house maintenance, etc… Never debt free
@@Avtr44 Disabled veterans in Texas don't pay property tax. I don't live in an HOA. It is smarter to keep liquidity and not pay off my house due to having a low rate. Solar pays my electricity. All I have is water/trash, phone, car insurance/home insurance.
@@Avtr44 - you conflate debt (borrowed money with interest) with current bills. I pay all my bills in full every month and have zero debt and pay no interest. Your financial illiteracy is not serving you well.
51 y/o here, $500k house paid for. two 2020 suv's paid for. kids both in private school. hell i just popped $40k for a boat yesterday in cash. oh, i graduated hs 221 out of 223 :)
Michael is spot on! In my business I have found that the majority cannot even write a check for 1,000.00 and never saved for a rainy day, no savings and many of them believe it or not are retirement age, and are not prepared for anything, hoping that things get better is like hoping to hit the lottery, but have no game plan to address their serious lack of money, very bad times coming for the majority!
This year is going to be the best year for America? Let’s see. Coming in for a soft landing? No! Hard landing? No! A total train wreck? Yes! Why? Massive layoffs. Illegal mass migration. Inflation. Unaffordable housing. Funding foreign wars. Credit card debt. Student loan debt. The homeless. The cost of medical care. Still debating the national debt! I’m sure I didn’t list every issue but those are the ones that come to mind. It’s unbelievable that all this is going on and Congress went on a two week vacation! Wow. As they say; the politicians are partying while Rome is burning. Funny thing is that we’ve only been in existence for less than 300 years.
I have a friend that owns a landscape business and he's going out of business now because out of nowhere some new Landscape Company popped up with absolutely dirt cheap rates and a crew filled with immigrants. Come to find out the owner of the company of some rich CEO that retired and decided he wanted to help himself in his Rich Elites get cheap labor around the house and it turned into a big business for him.
UPS is laying off because of decreased package volume. They only use as many employees as needed to move them. The wage increase doesn’t affect that. We are in a recession. Same thing happened going into 2008. If we made minimum wage they won’t put extra employees on to stand around. Trust me. 30 year employee here. You didn’t notice other non union places laying off?????????
Volume is dropping faster than normal. People are broke. They have to pay their student loans rent mortgages stimmy checks spent. High interest rates. Many did a cash out refinance. Now they all have to face reality
@@kenchu5900 they are reducing every operation. Past few years was like shipping in December year around. Over hired. Over staffed. Unless we get all the stuff back I mentioned in first post we will be back to pre Covid volume. Even the freight guys are super slow after yellow freight went under.
This just happened to me a few weeks ago. I work in a high tech setting for the government. I've been there almost 10 years, and been in the industry 30 years. Where I work now is the best work environment that I have had. They announced to us that the specific type of work that I and 3 others do for them will now be outsourced, which means they don't need us any longer. I'm not surprised they are doing this due to the nature of things, but I am very upset by it. I'm too old to go work in high tech in the private sector. They have bias against older people. I have had serious chronic health issues which I spent most of my retirement on, so I can't afford to retire. They said they will help us find other work in the company, but what I do is so specialized that it's not transferable to other types of work. I'm in deep do-do!
Ouch, sorry to hear it love. While Texas is literally being invaded, the governor was recently over in India helping to outsource more jobs from native Texans. Dispicable
Then do something in a different field. Will likely pay less, even a lot less will change ur lifestyle. Might have to move. I know. I’ve just had to do it a year ago. It’s been very hard, feeling like starting all over at our age, in a place we don’t know anyone. But it’s doable. To survive and still keep our dignity.
Inflation decreases the standard of living which is constantly happening in small increments. The difference now is we're entering hyperinflation which will rapidly decrease SOL.
Rented a boardwalk condo at 2625 Collins in 2021 for $2600. Now landlord wants $3600 for it. We have only ourselves to blame for that bs. Stating the obvious: Humans are their own worst enemy.
I'd buy a mobile home for that money an still have hundreds a month left over. It's insane the real estate greed now. I honestly feel for people it's not sustainable
Live within your means and never stop educating yourself. If you have a $1000 iPhone and a big screen TV and less than three months of emergency funds, you blew it.
I read this quote decades ago , Live within or below your means, just NOT above your means!!! I been doing this for yearssssss. I know people who are well to do, and they live like "normal" people. They live within their means or below just not above.
@@debbiec6216 You don't want to live within your means because if something happens, you won't have the money to cover it. You always want to live BELOW your means cause then that means that you are saving and when an emergency happens, you have the money to take care of your needs.
Being recently retired from the U.S. Navy, my biggest financial regret so far is moving back to my home state of California. This is a wasteful state that bleeds you dry. THEY TAX MILITARY RETIREMENT PAY too.😒
The minute I retired from the Navy I moved out of California to Tennessee. California still sent me a letter trying to collect taxes. I told them to come and get me and extradite me back to California to collect.
Look, I absolutely agree that the people building credit card debt is INSANE. BUT…So many people have been financially squeezed over the past few years that THEY ARE FLOATING their lives by using credit cards and consolidation. My overall bare essentials (cost of living) went up 30% since Jan, 2023. If I wasn’t as “modern minimalist” as I am, I would be out on the street.
Most learned nothing from the Great Recession/housing crash. You had 15 years to get yourselves together financially. Many continued getting bigger homes,new cars,too many kids,more debt,no saving or investing,no emergency fund,etc..
It seems like the ppl who are living in rv, campers, vans and cars are way ahead of the pack at this point honestly. Even they may have to trade in the vehicle for a tent before its over.
soon they will be consider high rollers by the ones who didnt plan ahead and buy a van. This video is giving people a heads up to buy a cheap van and start fixing it, it won't be long before the crash happens, but a tent is better than nothing. The illegals will be laughing at all the tent people as they go to there 5 star hotels.
Not really, its out of necessity not preference. And it plays into Agenda 2030 where "we will own nothing and be happy," living in rented pods and eating synthetic gruel like in the Matrix film
What money do you think they are spending less of? There hasn't been any money since 1933. The cluelessness of people is astounding. Corporations fund themselves by issuing bonds. They receive PAYMENT IN FULL up front for whatever product or service they offer. How do you think Amazon was able to exist without turning a profit for years on end? How can walmart consistently undercut other stores and not be forced to shut down? They can give their products away for free and still pocket billions.
I work at a small restaurant in NE Ohio, we have raised our prices, and we are still busier than ever. I agree that something is going to go wrong, but I'm not seeing it yet.
Using entertainment is a terrible benchmark. People going to overpriced shitty concerts and restaurants are part of what's left of the middle class. The vast majority of people are not doing these things.
Healthcare costs, insurance ("Affordable care act"), and homeowner's insurance has eaten up my savings. Property taxes. It is IMPOSSIBLE to save money.
Financial markets greatest fear: uncertainty. If a company is cutting costs by (sadly) laying off employees, and their annual spread sheets look positive - the company stock is going to go up if the investment atmosphere looks promising - even as it hurts the company's former employees. In other words, human suffrage isn't a main component for a financial stock's growth.
As a service worker in FL the service state i have been broke my whole life im happy to finally see pay increases after a decade of decline. Welcome to how the majority of this country has been living. Remember you are paid what your worth.
I still don't understand how home ownership is considered the holy grail of success and wealth. With the interest rates today you'll end up paying $900,000 for a $400,000 house with a 30 year mortgage. That's insane. Plus even after you pay off your house, you'll still owe the government an ever increasing amount of property taxes every year, which if you're unable to pay, the government takes your home. How is that a win for my family and I?
In my area one would think it’s 2019 people out and about spending money all day at the shops and restaurants. While my wife and I just cook at home and only shop for our family’s true needs. I know couples whose combined car payments are well over $1200 a month. I just couldn’t live with that. It’s got to come to an end eventually…maybe🤷🏻♂️
I'm in the uk no mortgage ,savings every month and very little debt (car loan ) I talk to folk who have large debt no savings and worried about the future, it's like a train wreck in super slow motion, keep on saving and if possible don't buy what you don't need, the crash is happening
It infuriates me every time I hear about these mass layoffs. It infuriates me even more when the financial sector applauds these layoffs. When companies fire so many people , in many if not most cases, they force 1 employee to do the job of 2 or 3 employees, which has a bunch of important consequences and in the end, the quality of the product suffers. Sure, automation and AI will allow some tech companies to get away with this infamy , but I feel most of these companies firing employees in massive numbers will enjoy the short term profits and booming stock value, but will regret the layoffs in the long term.
For newbies, be aware that this is a grossly oversimplified scenario. For one thing, you can't get a mortgage on an investment property without at least 25% down payment. Two, it's easy to see comps for house purchase prices, but it takes a lot of research to understand the comps on rent prices. The trick is to find a place where renting is more expensive than buying, but those places are less common because of this very type of scenario. Three, you have to remember that rent number he's using is supposed to be net income, not gross. So you have to think about costs for taxes, insurance, maintenance and vacancy when you're researching investments. All that said, real estate investing is a good tool for wealth accumulation. But it isn't foolproof.
Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
Recently, I have been exploring the possibility of consulting with advisors. As a mature individual, I am in need of guidance, but I am curious to know how truly impactful their services can be?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I swung by several builder offices where new communities are being developed and was shocked how crowded they are. I spoke to a couple of the sales people who said builders and bending over backwards to get people to buy, like sweet mortgage deals, lowering the house price, putting down as little as possible, etc. If the buyer is having trouble buying the house, I wonder how they will afford the taxes, insurance, HOA, etc?
This is crazy, i literally just woke up to a youtube video where the Dow Jones was at 23k. Im just like "Let me check the year before i close this" It was only in 2018. The Dow is now pushing 39k a 65% rise with the S&P 500 more than doubling since then & the nasdaq growing more than 250%. In the U.S. the average hourly wages from 2018 to 2024 have only increased from $27/hr to $34/hr a 26% increase. New home prices in the same time have went up 35%, between Eggs & Milk a 70% increase. From 2020 Fuel prices made a double bottom surging 65% and Invidia's market cap in the same amount of time has risen nearly 1300%. These corporations have way too much power & the average working person's wage isn't anywhere near enough to keep up with the insanity. It really sucks that these companies are raking in record profits and cant produce the wages in pace with the inflated prices on top of having to cut millions of jobs when the overly inflated market decides to "pullback" even the slightest bit
all we have to do is select one company and just don't buy their product anymore until they go out of business. the american people are too divided to ever do something like that. THE PROBLEMS IN THE USA ARE CREATED BY THE AMERICAN PEOPLE!
@@jlamb-s2g Got to think for yourself and outside of the box. I just invest in those companies. Just my Walmart stock alone pay enough dividends in one quarter to buy groceries for over three years. Heck Amazon pretty much paid for my beach home on Marco Island and two rentals with cash. Buying stocks in companies like Exxon,Oneok,and Apple in the 90s is why I’m retired debt free in my 40s. Don’t get pulled in barrel with the other crabs.
According to what you have said here, it begs the question, how are jobs going to be provided for all those illegal immigrants entering the country? If there is so much unemployment among existing citizens and rising as you speak, where are the jobs going to come from to accommodate this increasingly large workforce?
Also, if you notice, the call centers to so-called “(non)Customer Service” are robotic and they funnel you through a menu maze and FAQs. Few callers succeed to reach a live person
A lot of people are doing the exact opposite of what they should be doing because they have no other choice. But there are also many others who do have a choice live way above their means thus getting further into debt. Crazy world for sure and I never would have imagined that our once good US of A would ultimately become like this!
Yes, thus causing a negative trickle effect all around with services. It’s already been bad enough and even more so now with calling and getting ahold of a customer service representative. Automated systems and voice prompts are so annoying and time consuming too.
I am not surprised that hedge fund managers are interested in child care. It’s a huge cash cow for the businesses involved for something that is nothing more than babysitting. The best thing that happened to us was when our daughter joined a gymnastics team when she was 7. The cost was half that of the daycare center for the same time and she was learning new skills.
Last time we had stock market all time high and economy in recession was right before Great Depression. I think by now only blind can’t see issues and troubled economy. I understand why politicians and MSM avoid this topic in order to prevent panic and even more trouble, but that’s just kicking the can down the road. Sooner or later US govt will admit recession as German or UK govt did - these economical issues aren’t “temporary” and the only way to get reelected is to admit them.
"Spend some, save some." My elders instilled that into me when I was a child so much so that it's automatic for me to do so now. My attitude about getting a raise, for example, is not so many: more money that you can spend. No. That's more money that I can save 😉
I work in a large (actually the biggest in North America) privately owned FBO's , been at it for more then 30 years and corporate AC inspections, repairs, modifications are NOT slowing down and the company I work for can't build enough hangers or get enough experienced AC mechanics to keep up. To me honestly the best indicator of how the economy is doing is when corporations ect. stop or slow down what they spend on their AC and when sales are down also. Right now its through the roof, that however can change quickly, I seen that happen also.
Yes. Me too. I’m so happy I retired free of debt and left the wage slavery rat race workforce system in 2021. Today our family of retirees is gratefully blessed, thriving and enjoying a well earned comfortable retirement.
I wonder how many Americans are aware of the deflation in China. MANY employees, in various industries, are not being paid. Some companies are over a year in arrears. The remarkable thing is that the public is protesting more and more over the past two years. It takes desperation and courage to stand up to the CCP!
Yep! You NEVER mention the mere thought of a CEO being let go, which would save companies enormous money. Why harp on the little guy possibly making a measly $20 per hour in lieu of $7.50 to feed their family?
Walmart is dropping employee pay back down. Heaven forbid that the Waltons might lose a few bucks... How can they live if their 4 million an HOUR is cut back a little?
@carolbagwell6769 If the Waltons hit hard times, perhaps they will end up in the same gated community, with this guy, 👦 who appears to speak I'll of anyone making over $9.00 per hour.
Friend of mine lives in a small town with just above 2000 people. The factory in his town shut down due to high state taxes and lower sales .....over 300 jobs gone directly with that factory not to mention all the subcontractors that work for that factory. Friend of mine has a friend that just lost his job add a place that hires around 900 people..... at this time they laid off more than half of the people and now they're talking about laying off some more
Taxes, rate hikes, charges, fees, surcharges, more taxes is how they make a ton of money by nickel and dime-ing everything on every level. Apparently, anything can be taxed . . . and it's working like a charm.
And the sad reality is our government and politicians are in big favor sending those taxes they collect from us to send to Ukraine and Israel to support ongoing wars and also fund the illegal migrants here in America much more than our needy people and homeless veterans, sadly!
@surfacenavy6412 At the same time, even when there was funding, it wasn't like the VA was getting any. It's all going into the black hole that is the DoD budget
Yup just happened to me. Thought I was safe because the company bought land to build a new building and found out this Thursday. That they are going shutdown our site and cancel all plans for us. lol
I know a young couple, They know they never can afford a home so they spend on everything else. Lease cars, Dinners out, student loan payments, no savings.
Next generation is very frugal. We are heading to a very different socio-economic environment than 90’s or early 00’s. These folks won’t spend like crazy, cause they got used to a simple life.
Well, I know someone who drives for Doordash in California and he thought this underpaid gig would get him through bad times. Well, the last 2 1/2:months have been slow, but this week, he had 2 dashes for $13. He started asking questions and from what he gathered, they have hired way more people than they need. ( So that story they are crying about in Seartle is likely Doordash overhiring and manipulating their workers and the government also) And heres the kicker, a restaurant owner told him that he was seeing many new people who cant speak English..from Venezuels and Ukraine. And some are dangerous, they have come behind his counter to take food and not wait or communicate properly and one of these immigrants took a customers pizza and threw it at him the other day. Im guessing that these people are likely illegals. But wtf is going on with all this insanity. Doordash possibly hiring illegals ?( Im just deducting, no proof, but it kind of sounds like that) and putting underpaid Americans on the fringe out of business? Yeah, even your underpaid gig work is undee threat.
I wasn't born to be a doctor or lawyer. I wasn't fortunate enough to go to college. My parents were not rich and I didn't want a bunch of debit. So I did the best I could with what skills I built. Unfortunately its not enough to sustain a descent living. Average Americans are forced to make difficult financial decisions everyday and our government could care less about the people they swore to serve. Major corporations are owning us and landlords are price gouging us right out of homes. Most of all there is absolutely nothing we can do but vote but even then there is no guarantee that whonwe vote for will deliver on their promise. Yes, and don't get me started on taxes and medical insurance. 😢
I was a Paramedic for 32 years, I was never laid off. My wife was a RN for 30 years, was never laid off. My son is a Firefighter, he has never been laid off. My daughter is a diesel mechanic, she has never been laid off. Figure it out. And oh, we only have 2 year degrees. We all make a comfortable living, even now.
@@francismarion6400 At one times when daughter was in college , she wanted to be a Xray Tech , she changed her mind. Instead she's a dental hygienist , where she lives they pay her a decent wage and in that region , they are lacking in dental hygienist , that's why they are paying good wages. Happy for her , she works very hard , she's no slacker at all. if anything she likes to work and help people .
Never trust companies to have your back and always live within your means to prepare for the worst .. no such thing as job security, avoid debt as much as possible. Interest rates should be increased, Housing way too overpriced. We also have been brainwashed to look down upon social programs but trust me .. that's what the country needs, along with politicians to defend people from greedflation .. corporations should be limited from entering making a business from things we need (housing, healthcare, education, etc..)
I really wanted to retire in the next three to four years, but now, because of the way the world’s going, I’m going to try to hang onto the job for as long as I can!
MacDonald's pay decent wages in other countries only because they have to. Big Mac here is $7.90 (USD$5.18) and min wage is $23.23. So it's just greed and they know they can get away with it in the US.
Not necessarily. It's the Federal / State government's fault for raising taxes and igniting inflation - like a domino affect, the higher cost to do business will get passed on to the consumer. Shareholders of a restaurant could gain OR lose because of this.
UPS is laying off 12,000 supervisors, it has 93,000 supervisors, one for every 10 drivers. Does that make sense? That is way more than 12,000 excess bodies.
Most people aren't content with what they have. They won't live within their means. They've got no one to blame but themselves. I bought my starter home here on Cape Cod 30 years ago. Raised my children here, paid my mortgage, property taxes, etc. I live 6 minutes from the beach. Everything is just minutes away. Hospital, groceries, retail district, etc. I'm debt free on top of it all and it's all because I've been content and happy with the blessings that have been bestowed upon me. 🙏🙏🙏🇺🇲✌️😎
@@frenchfred3 Right? Sounds like he got his when everything was cheap. Telling people to live within their means when everything is way more expensive now is a joke.
I'm not really sure what people are expected to do. Most people want to own their own home - well you need ALOT of saved money to obtain a viable mortgage to be able to do that, I'd say at least $25,000 minimum. The less of a deposit you have saved, is the more you're going to need to borrow, and the more you borrow is the more you are shafted on higher interest rates, which eat into your monthly outgoings. That aside, let's say for argument's sake you made it through the door and you have a mortgage - a mortgage is the biggest most burdensome debt you are ever going to owe and it's usually over about 25 years (basically most of your peak years). The problem is, that once you have a mortgage you are in the most precarious position you'll ever be in because most people are right at the edge of their budget once they are in the home, which they don't even own until it's all paid off. Inevitably, when interest rates go up, that eats more and more into your budget and if you lose your job, it is all over. You can't save an emergency fund if all your money has gone into your home (including maintenance by the way). The banks know this, they know that they will nearly always win, it's highly probable that they will get foreclosure and the property comes right back to them. That's the problem here, the house to wage ratio has been blown way out of control from the 80's and it's getting worse. I think the only way it's possible to save an emergency fund now, is if you rent and not buy, because then you can control that overhead. Rent goes up, find somewhere else cheaper to live. Once you've committed to a mortgage, you are stuck in the equity trap, you can't just up and move when things get tight as you could if you were just renting. The reason why people are in debt is because they don't earn enough money, you only get one life, so you don't want to spend your peak years doing nothing but saving a pittance for a future because you can't afford anything. You're young now, you have opportunities to enjoy life now, no matter how little you have. We don't know how long we have to live, so you can't waste it just saving for a future you won't know even exists, there has to be a balance. If you have been given the opportunity to use credit, you'd be smart to take it. Big multinational corporations themselves live off of millions even billions of debt, it's not a bad thing, it's a bad thing only if it's mismanaged.
Real Estate Commissions ARE FINISHED! ruclips.net/video/VuLGd8XHfAI/видео.html
I would like to ask Biden one simple question: how can the unemployment be so low, when he just allowed 10 Million Migrants to come in and they are now unemployed residents living off the taxpayers money. I understand they aren’t collecting unemployment, but they are NOT EMPLOYED.
Hey Bordenaro I just hit the Like botton.
Signore not-liking-my attempts at correcting your grammar so you can sound as if you've been to school past twelfth (eleventh?) grade.
@@b-mi2re say hello to da dead fo me.
Wow, 140k. Wasn't it just a minute ago that you met one hundred thousand subscribers, Michael? I guess our obsession with wanting our negative situations validated is working for you. 😢
Can we all say the USA quality of life and future retirement prospectives has turned to $hit?
Only for MAGA 🤡
I was smart at 16 yo. I'm retired now and doing well at 50 yo. First thing. Stop chasing women. They will destroy your life!!!
Thanks to the Democrats and the Left
@@justsayingforafriend7010 You lived during the good times. We are talking about now.
Only if you live in Florida.!
Went house shopping yesterday, found a nice eight person tent at TARGET for $300!😮
HOW MUCH THE RENT ON THE TENT
Learn from the Asians they can make houses out of plant fiber
It will save more and probably last longer
I'm just looking for a tarp to roll up inn to stay warm!
Yeah but you will pay anywhere between $400-$700 a month on property taxes and possible HOA fees to put that tent up. Its lose lose in the United Slaves of America!!
lol
I'm a old man and everybody I know is riding on the struggle bus and we are heading for the cliff and it seems like the bus driver has his eyes closed... stay strong and buckle up...
You need a new circle of friends, Carl.
Work harder and spend less time doom-scrolling.
Yup that's sleepy joe for you...
You are a good writer!
trump would be worse because he would give the rich and corporations more tax cuts and also crank up union busting.
They do lay offs, but don't cut the work those people did as well. The work is instead shafted onto other workers who are not compensated. It's maddening.
That's exactly what happened in '08
Nothing new. It's simply about doing more with less. It's a cycle that's been around for decades.
Reaganomics...
Upside down pyramid sheme
💯
I'm a dentist who graduated 2 years ago and can't afford a house.
I have a small private office ( barely paying rent).
My fiance and I put sleeping bags and a camping stove in the back storage room and live there.
I pray that my fiance stays with me . I always tell her times will get better.
I hope she doesn't leave me .
For those of you who find this unbelievable , there are many of my colleagues in similar straights.
However, they are loathed to speak about it .
If you’re a dentist and can’t afford to live in the area you’re in, find a different area where you can live.
@@stephaniekerrI think the rent for his commercial use is so high he can’t. Wouldn’t matter. All his income goes to keeping the business up. 😢 I’m sure he’s got school loans ect.
@@JFEnterprizeyes, his student loan me might be close to a million dollars! It is a hard time for most people!
You must not be a good dentist cuz they make money that's off the hook!!
@@ptsmith4660
🤣😂🤣😂
I work at NASA’s Jet Propulsion Laboratory in CA and we laid off around 600 people a few weeks ago. Government contractors are not immune.
No but government employees get fat pensions even if laid off so it does take the sting out of it.
@@hoppeanofasgard1365 Isn’t it interesting government employees get pay, benefits and pensions from taxpayers that often don’t have pensions.
Shouldn’t it be the Rocket Propulsion Laboratory since that’s what yawl use to slingshot your toys into orbit? 😁
@@hoppeanofasgard1365 For the record, JPL is a contractor. WE DO NOT GET PENSIONS. We have retirement funds 401k/403b like other non-government employees. FFS
@@hoppeanofasgard1365Government pensions are far from fat.
Plenty of open positions on usajobs. What is your excuse?
Not everyone lives an extravagant lifestyle. I was living frugally, doing great until I was diagnosed with stage 4 cancer. As a result, I took a hit financially with unforeseen medical bills and everything associated with battling a major illness.
Same. (sorry)
~ 🦋
Sorry for your situation; those medical bills can definitely bankrupt a person.
I’m sorry, God bless🙏🏼❤️
Might as well plan a move to Buffalo. At least any medical bills I'll get won't bankrupt me when Canada is 30 min away
Wishing u the best!!!
For someone from Australia I can't understand how you can afford these insane property taxes
I cant and wont. I live in a different state. My tax is reasonable.
Anytime I hear someone blame Biden or Trump for their problems, I immediately turn it off and stop listening.
you hit the nail on the head. Many believe the worst is yet to come. People I know are hunkering down; prepping, and only spending on necessities
I run a wholesale automotive parts business and my revenue went from 11-13,000 a month to $6-7,000 a month since 2024 started. People dont have money to spend…
MY FREIND FIXES BIG TRUCKS AND HUGE SCRAP YARD HE TOLD ME VERY SLOW AND PEOPLE HE THINKS ARE BROKE AT HIGH RATES YOU GO BROKE FAST.
WOW! huge drop, nice revenue stream when it was at it's peak by the way, was that difficult to start?
@@hoppeanofasgard1365 A lot of local competition and the initial start-up price was a bit high. It cost me roughly $25,000 to start and I didn’t start making a profit until month 2, and didn’t recoup the $25,000 until month 4. That is considered “accelerated growth” but its rare. I focused on perfecting mu business model rather than maximizing growth.
@@hoppeanofasgard1365 Looks like youtube deleted my response… Took me roughly $25,000. I have a few large local competitors. Difference is my business model and my “low” costs. Thats why Ive continued to exist.
Sir that is what i See...that is Logical...if the Inflation for Food and Rent is so damn high...how can People be Spending broadly to keep the Stock Market so high...and create a Boom Economy...??? makes no sense...i am in Asia and uts a wasteful free for all...poor People spending every dime on Junk Food and Crap...wasting Gas..with constant unnecessary Trips in Vehicles...you see dead businesses boarded up...but new construction and Parties every night in poor neighborhoods...?? post Covid Vax Brain...people are Mindless...selfindulgent...excessive...Weird...wonder when it will Blow like an overinflated Tire?
It all started to go downhill when both parents were forced to work and other people raised your children.
Cultural marxism. Look up Marx's ethnic background for cues.
so true!
You are absolutely right and then through in a divorce on top of that and living in a throw away society...me me me... And here we are... stay strong and hang on...
Blame Rosie the riveter.
False
I houseless! Five years now. Live in a cargo trailer and travel. Cost me around 1500 a month to live. I’m putting 2200 a month into savings. But people say I’m homeless and a bum. Lmao. Live below your income people. I’m nearing two years in savings reserve debt free. New truck and trailer are paid off.
Buy land...maybe 1 acre and put and build a tiny home. Good luck
@@cecilianduguta8241
Great advice and idea.
Sadly even putting 2200$ monthly back will take many years to outbid people that have 300k when you go to buy. It’s insane.
I have friends with maxed out cc's, personal loans, $800-1k car payments, and paying $2000-2500 on rent in apartments... The reality check is coming hard and fast 😅
With that car payment, they have zero right to ever complain about fast food prices or wages 🤣
Dayum
People lived like the Great Recession and housing crash never happened.
They made bad choices, Invert.
And it’s a check most of them can’t cash
All i know to do is lower my rent. So i moved to my reservation. We have a huge garden so i can get my fresh vegetables that are in season for free. We have free WiFi. I don't pay for cable or phone. Lower your basic expenses where you can. I know it's rough out there. I only moved last year so before that i paid all the normal bills. This is the time to come up with ideas to use your money wisely. We need to go back to basics and do what we can to protect our natural environment. Be safe all 💜
As a retail worker of 15 years- When people can’t afford things - they start stealing. You have to come see the supermarkets here in Downtown San Diego. Every 30 mins a shoplifter comes in and security has to follow them around like a dog. You think that will stop it but they still steal on the way out.
That house looks like a shack! It's a crime that it costs $1.4 million!
true but its the land and water that costs
I've seen the downfall of America coming for a long time now because all of our manufacturing jobs have been outsourced to China. The only thing left for Americans is government jobs, other union jobs, high tech jobs and fast food.
MAGA 🤡
The Unions did that. Karl Marx Communist unions.
Yeah. How come the government isn't laying off to cut spending? Gee, I wonder.
Nafta democrats signed into legislation sent jobs over seas thanks Bill Clinton
Electricians are needed, plumbers, appliance repair, air conditioning heating systems, LVN'S, Nurses, mechanic's, carpenter's.
It’s getting rough out here. We won’t be able to pay for a car, college, or retire at this rate.
That's what the rich want. They want the working poor to not own a car or ever retire
The new American dream is a tiny home, and a scooter to get around.
Good times right?
@@NeonAnimeDreams we live in an RV so ya.
You ain’t ever retiring bro
@brandonross1996 retirement is all but impossible now that pensions are gone.
Maybe if you become a doctor or lawyer and save properly rather than going buck wild buying a 2 million dollar home, you know actually live below your means it'll be possible.
People with 200k plus salaries have that luxury, as for the rest of us not really.
Of course before a doctor or lawyer even can begin to save that they'd have to pay off enormous student loan debt which could take upwards of 7 years even with their salary, further emphasizing the fact that if they wanted to make it work they really should stick buying a modest middle of the road house.
This is by design its so obvious! Stress out the workers that are laid off, and add more stress on the workers that will have to do 3X more work!
This will burn out a lot of those employees that still remain with the company and work quality will suffer drastically.
This will also be a big test for the remaining workers to test their multi tasking skills and abilities for sure.
@@surfacenavy6412 True, but that hasn't stopped them the last three decades from doing this.
You are correct
The last thing the ruling class wants is 350 million people and growing all demanding higher wages, health care, retirement, vacation time and a nice house with a pool. Easier to start making life worse and expectations of a living standard lowered. All while the top are taking the majority of the productivity gains made from technological improvements
I work for UPS.. they had this plan in place well before the new contract was signed. They are changing the way they are structured.. downsizing and consolidating. It's been in the works since the current CEO has been here. They are using "low volume " as a shield against any negative feedback. But the volume is there..
I see more Amazon trucks around town than UPS...by a huge margin.
@zachlafond2652 not surprising. UPS ceo has said that publicly, she doesn't care about delivering to people's homes. They make money doing it.. but not enough for her to take it seriously. She only wants high value accounts.. that ship air and things like medical supplies. She's killing UPS. She only knows how to (and is good at) increasing stock value but making cuts. She doesn't know how to(or care to) grow a company and make new money.
I am getting older, but every recession that we go through has been different. This one will be unique because the high-end paying jobs will lead the layoffs instead of manufacturing jobs. So I don't see tens of millions in layoffs but rather a few million jobs that will have a major impact on the economy. This will then be followed by service jobs as people spend less on expensive leisure activities, purchases, and experiences, such as restaurants and vacations.
Stock prices will stay artificially high since piece of shit ceos are incentivized to keep it that way to maximize their compensation
Lol, CEOs don't get to choose stock prices.
They're not "artificially high". They're just inflated (naturally) because dollars are worth less when you print trillions of extra dollars. And when you measure the price of anything with inflated dollars, it's going to be higher than it was before that inflation happened.
Yep, that's how the American system works!
For us to invest and lose everything when it crashes
Ah, YT purged my comment. Funny.
CEOs don't set stock prices, and inflation increases the price everything, including stocks. More dollars floating around -> higher prices for stocks.
You seemed to miss where our politicians have allowed corporations to buy into the housing market. Allowing China to buy into it and our land. That is q major issue.
Things are going to continue to get worst, we haven’t seen anything yet!
I plan to travel more.
Iam seeing it .fast food chains closeing and others.
⛈️
We took our brother in law advice and help , where we were all able to retire early and saved money
for Decades. Back in 1970 !!!! I started all my saving and working odd jobs while in high school.
I have always said Spend Less, Save More !!! Debt free by the time you are 50 years old , but that situation
will NOT apply here because of the crazy economy or more like a depression .
Even if you are debt free, you will always have property taxes increasing, Hoa fees, gas prices, water & gas & electric bills. Plus other monthly bills like phone, cable, house maintenance, etc… Never debt free
Debt free before 35 to 40 and retire early.
@@Avtr44 Disabled veterans in Texas don't pay property tax. I don't live in an HOA. It is smarter to keep liquidity and not pay off my house due to having a low rate. Solar pays my electricity. All I have is water/trash, phone, car insurance/home insurance.
@@Avtr44 - you conflate debt (borrowed money with interest) with current bills. I pay all my bills in full every month and have zero debt and pay no interest. Your financial illiteracy is not serving you well.
51 y/o here, $500k house paid for. two 2020 suv's paid for. kids both in private school. hell i just popped $40k for a boat yesterday in cash. oh, i graduated hs 221 out of 223 :)
Michael is spot on! In my business I have found that the majority cannot even write a check for 1,000.00 and never saved for a rainy day, no savings and many of them believe it or not are retirement age, and are not prepared for anything, hoping that things get better is like hoping to hit the lottery, but have no game plan to address their serious lack of money, very bad times coming for the majority!
My sister in law was a nurse at the same hospital for 43 years and they “downsized” and fired her right after Christmas….
now she cant do harm to people anymore at the deathcare racket facility too bad..
This year is going to be the best year for America? Let’s see. Coming in for a soft landing? No! Hard landing? No! A total train wreck? Yes! Why? Massive layoffs. Illegal mass migration. Inflation. Unaffordable housing. Funding foreign wars. Credit card debt. Student loan debt. The homeless. The cost of medical care. Still debating the national debt! I’m sure I didn’t list every issue but those are the ones that come to mind.
It’s unbelievable that all this is going on and Congress went on a two week vacation! Wow.
As they say; the politicians are partying while Rome is burning. Funny thing is that we’ve only been in existence for less than 300 years.
It will for me.
Going to my 66th country this year.
Agree 100%. Their goal of destroying the country is working.
Oui, tout peut changer, voyez de bon côté. Il faut RESTER POSITIVE. TOUT EN SACHANT QUIL FAUT ÊTRE PRÈS
Empires never work, always a disaster in the end
I have a friend that owns a landscape business and he's going out of business now because out of nowhere some new Landscape Company popped up with absolutely dirt cheap rates and a crew filled with immigrants.
Come to find out the owner of the company of some rich CEO that retired and decided he wanted to help himself in his Rich Elites get cheap labor around the house and it turned into a big business for him.
UPS is laying off because of decreased package volume. They only use as many employees as needed to move them. The wage increase doesn’t affect that. We are in a recession. Same thing happened going into 2008. If we made minimum wage they won’t put extra employees on to stand around. Trust me. 30 year employee here. You didn’t notice other non union places laying off?????????
UPS lays people off in JAN every year... and hires them back in Sept.... wonder why.
Volume is dropping faster than normal. People are broke. They have to pay their student loans rent mortgages stimmy checks spent. High interest rates. Many did a cash out refinance. Now they all have to face reality
I thought most of the positions UPS let go in January were management, not package handlers.
@@kenchu5900 they are reducing every operation. Past few years was like shipping in December year around. Over hired. Over staffed. Unless we get all the stuff back I mentioned in first post we will be back to pre Covid volume. Even the freight guys are super slow after yellow freight went under.
@@christopherwhull Ho Ho ho
This just happened to me a few weeks ago. I work in a high tech setting for the government. I've been there almost 10 years, and been in the industry 30 years. Where I work now is the best work environment that I have had. They announced to us that the specific type of work that I and 3 others do for them will now be outsourced, which means they don't need us any longer. I'm not surprised they are doing this due to the nature of things, but I am very upset by it. I'm too old to go work in high tech in the private sector. They have bias against older people. I have had serious chronic health issues which I spent most of my retirement on, so I can't afford to retire. They said they will help us find other work in the company, but what I do is so specialized that it's not transferable to other types of work. I'm in deep do-do!
Ouch, sorry to hear it love. While Texas is literally being invaded, the governor was recently over in India helping to outsource more jobs from native Texans. Dispicable
Then do something in a different field. Will likely pay less, even a lot less will change ur lifestyle. Might have to move. I know. I’ve just had to do it a year ago. It’s been very hard, feeling like starting all over at our age, in a place we don’t know anyone. But it’s doable. To survive and still keep our dignity.
Can you and the other 3 start your own company to do so. Basically you’ll be subcontractors. Look into it.
I'm real sorry hon. It's worse for older folks to start over doing anything.
30 years !! Time to retire
Our standard of living is being reset. Look at other country's where you work to pretty much eat, that's where we are headed.
Bidenomics!
Thats what a Rockerfeller said similiarly,
I don't want a nation of thinkers! I want a nation of workers!!
Other countries live better than we do now lol. Their medical bills are affordable too!
Depends on the country, the ones that produce goods generally do well.
Inflation decreases the standard of living which is constantly happening in small increments. The difference now is we're entering hyperinflation which will rapidly decrease SOL.
Rented a boardwalk condo at 2625 Collins in 2021 for $2600. Now landlord wants $3600 for it. We have only ourselves to blame for that bs. Stating the obvious: Humans are their own worst enemy.
Move
You don't rent a condo. You own them. Why didn't you buy a house instead?
I'd buy a mobile home for that money an still have hundreds a month left over. It's insane the real estate greed now. I honestly feel for people it's not sustainable
Live within your means and never stop educating yourself. If you have a $1000 iPhone and a big screen TV and less than three months of emergency funds, you blew it.
I read this quote decades ago , Live within or below your means, just NOT above your means!!!
I been doing this for yearssssss. I know people who are well to do, and they live like "normal" people.
They live within their means or below just not above.
@@debbiec6216 You don't want to live within your means because if something happens, you won't have the money to cover it. You always want to live BELOW your means cause then that means that you are saving and when an emergency happens, you have the money to take care of your needs.
I have a 10 year old flat screen, a 5 year old Chinese phone, 8 months of emergency funds as well as no debt.
I'm still concerned.
I bought a used iPhone 7 Plus for $175 delivered.
When wants become needs, you may have an issue
Being recently retired from the U.S. Navy, my biggest financial regret so far is moving back to my home state of California. This is a wasteful state that bleeds you dry. THEY TAX MILITARY RETIREMENT PAY too.😒
So? You are ripping off the taxpayers.
Time to move!
I moved out 8 years ago, I miss living there but I couldn't afford to retire there.
I'm here in the Philippines 9 months ago doing yood😊
The minute I retired from the Navy I moved out of California to Tennessee. California still sent me a letter trying to collect taxes. I told them to come and get me and extradite me back to California to collect.
Look, I absolutely agree that the people building credit card debt is INSANE. BUT…So many people have been financially squeezed over the past few years that THEY ARE FLOATING their lives by using credit cards and consolidation.
My overall bare essentials (cost of living) went up 30% since Jan, 2023.
If I wasn’t as “modern minimalist” as I am, I would be out on the street.
Most learned nothing from the Great Recession/housing crash.
You had 15 years to get yourselves together financially.
Many continued getting bigger homes,new cars,too many kids,more debt,no saving or investing,no emergency fund,etc..
@@frenchfred3
Yup 2008 taught me that anything can happen.
@@frenchfred3 Hey knock it off with the objectivity /s
@@frenchfred3
I'm just proactive and learned things like inflation from the past. I'm good.
@@frenchfred3
I call it personal finance,economics,and common sense. Already retired in my 40s.
It seems like the ppl who are living in rv, campers, vans and cars are way ahead of the pack at this point honestly. Even they may have to trade in the vehicle for a tent before its over.
soon they will be consider high rollers by the ones who didnt plan ahead and buy a van. This video is giving people a heads up to buy a cheap van and start fixing it, it won't be long before the crash happens, but a tent is better than nothing. The illegals will be laughing at all the tent people as they go to there 5 star hotels.
Not really, its out of necessity not preference. And it plays into Agenda 2030 where "we will own nothing and be happy," living in rented pods and eating synthetic gruel like in the Matrix film
If Corporations are spending Less money, the entire USA Citizens should too !!!
Spend Less$ ! Save More $$$!
"Save Your Money" was the slogan for ING Direct!
@@greendesertgoddess I been saving and doing this since I been 17 years old . very long time .
invest in gold, it's going to be a wild ride!
What money do you think they are spending less of? There hasn't been any money since 1933. The cluelessness of people is astounding. Corporations fund themselves by issuing bonds. They receive PAYMENT IN FULL up front for whatever product or service they offer. How do you think Amazon was able to exist without turning a profit for years on end? How can walmart consistently undercut other stores and not be forced to shut down? They can give their products away for free and still pocket billions.
Less spending starting with the US government
I work at a small restaurant in NE Ohio, we have raised our prices, and we are still busier than ever. I agree that something is going to go wrong, but I'm not seeing it yet.
Even McDonald's identified a price barrier for its customers. You just haven't reached it yet
Using entertainment is a terrible benchmark. People going to overpriced shitty concerts and restaurants are part of what's left of the middle class. The vast majority of people are not doing these things.
People are living on credit cards and fumes, not a great barometer
Last time I went grocery shopping the three people in front of me bought their groceries with EBT.
A place in St. Pete FL has $19 waffles and they're always busy
We’ve lived in a 5th wheel in Alaska for 3 years now building our house out of pocket. Rather not have debt for the rest of my life.
The economy is doing well, but for the rich ones, the working people is living check to check. A Tsunami is around the corner.
Freaking terrifying. All of it!
Healthcare costs, insurance ("Affordable care act"), and homeowner's insurance has eaten up my savings. Property taxes. It is IMPOSSIBLE to save money.
We should all be social media influencers like Michael. Real jobs.
Financial markets greatest fear: uncertainty. If a company is cutting costs by (sadly) laying off employees, and their annual spread sheets look positive - the company stock is going to go up if the investment atmosphere looks promising - even as it hurts the company's former employees. In other words, human suffrage isn't a main component for a financial stock's growth.
As a service worker in FL the service state i have been broke my whole life im happy to finally see pay increases after a decade of decline. Welcome to how the majority of this country has been living. Remember you are paid what your worth.
And with AI we will be worthless
I still don't understand how home ownership is considered the holy grail of success and wealth. With the interest rates today you'll end up paying $900,000 for a $400,000 house with a 30 year mortgage. That's insane. Plus even after you pay off your house, you'll still owe the government an ever increasing amount of property taxes every year, which if you're unable to pay, the government takes your home. How is that a win for my family and I?
In my area one would think it’s 2019 people out and about spending money all day at the shops and restaurants. While my wife and I just cook at home and only shop for our family’s true needs. I know couples whose combined car payments are well over $1200 a month. I just couldn’t live with that. It’s got to come to an end eventually…maybe🤷🏻♂️
Yeah, things are going pretty good, been eating out a lot lately.. out of a can… lol. I don’t get it either with people spending like they are…
@@danielvillareal2569 doom spending. Look it up.
I'm in the uk no mortgage ,savings every month and very little debt (car loan ) I talk to folk who have large debt no savings and worried about the future, it's like a train wreck in super slow motion, keep on saving and if possible don't buy what you don't need, the crash is happening
Car payments suck, I haven’t done that for many years! If I owed money on a car I wouldn’t pay it. Not paying taxes either😆🤣
This is going on all over the country....
It infuriates me every time I hear about these mass layoffs. It infuriates me even more when the financial sector applauds these layoffs.
When companies fire so many people , in many if not most cases, they force 1 employee to do the job of 2 or 3 employees, which has a bunch of important consequences and in the end, the quality of the product suffers. Sure, automation and AI will allow some tech companies to get away with this infamy , but I feel most of these companies firing employees in massive numbers will enjoy the short term profits and booming stock value, but will regret the layoffs in the long term.
For newbies, be aware that this is a grossly oversimplified scenario. For one thing, you can't get a mortgage on an investment property without at least 25% down payment. Two, it's easy to see comps for house purchase prices, but it takes a lot of research to understand the comps on rent prices. The trick is to find a place where renting is more expensive than buying, but those places are less common because of this very type of scenario. Three, you have to remember that rent number he's using is supposed to be net income, not gross. So you have to think about costs for taxes, insurance, maintenance and vacancy when you're researching investments. All that said, real estate investing is a good tool for wealth accumulation. But it isn't foolproof.
Very soon, affordable housing will no longer be affordable. So anything anyone want to do, I will advise they do it now because the prices today will look like dips tomorrow. Until the Fed clamps down even further, I think we're going to see hysteria due to rampant inflation. You can't halfway rip the band-aid off.
Home prices will come down eventually, but for now; get your money (as much as you can) out of the housing market and get into the financial markets or gold. The new mortgage rates are crazy, add to that the recession and the fact that mortgage guidelines are getting more difficult. Home prices will need to fall by a minimum of 40% (more like 50%) before the market normalizes.If you are in cross roads or need sincere advise on the best moves to take now its best you seek an independent advisor who knows about the financial markets.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
Recently, I have been exploring the possibility of consulting with advisors. As a mature individual, I am in need of guidance, but I am curious to know how truly impactful their services can be?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I swung by several builder offices where new communities are being developed and was shocked how crowded they are. I spoke to a couple of the sales people who said builders and bending over backwards to get people to buy, like sweet mortgage deals, lowering the house price, putting down as little as possible, etc. If the buyer is having trouble buying the house, I wonder how they will afford the taxes, insurance, HOA, etc?
I wish I could save for rainy day but the taxes keep going up and up
Plus stores are closing everywhere cause of theft.
This is crazy, i literally just woke up to a youtube video where the Dow Jones was at 23k. Im just like "Let me check the year before i close this" It was only in 2018. The Dow is now pushing 39k a 65% rise with the S&P 500 more than doubling since then & the nasdaq growing more than 250%. In the U.S. the average hourly wages from 2018 to 2024 have only increased from $27/hr to $34/hr a 26% increase. New home prices in the same time have went up 35%, between Eggs & Milk a 70% increase. From 2020 Fuel prices made a double bottom surging 65% and Invidia's market cap in the same amount of time has risen nearly 1300%. These corporations have way too much power & the average working person's wage isn't anywhere near enough to keep up with the insanity. It really sucks that these companies are raking in record profits and cant produce the wages in pace with the inflated prices on top of having to cut millions of jobs when the overly inflated market decides to "pullback" even the slightest bit
The Dow was at around 2000 when I started investing in high school.
I don’t even pay any attention to it anymore.
@MchlV-es7qf Of course the rich ger richer & the poor get poorer
all we have to do is select one company and just don't buy their product anymore until they go out of business. the american people are too divided to ever do something like that. THE PROBLEMS IN THE USA ARE CREATED BY THE AMERICAN PEOPLE!
@@jlamb-s2g
Got to think for yourself and outside of the box.
I just invest in those companies.
Just my Walmart stock alone pay enough dividends in one quarter to buy groceries for over three years.
Heck Amazon pretty much paid for my beach home on Marco Island and two rentals with cash.
Buying stocks in companies like Exxon,Oneok,and Apple in the 90s is why I’m retired debt free in my 40s.
Don’t get pulled in barrel with the other crabs.
According to what you have said here, it begs the question, how are jobs going to be provided for all those illegal immigrants entering the country? If there is so much unemployment among existing citizens and rising as you speak, where are the jobs going to come from to accommodate this increasingly large workforce?
Also, if you notice, the call centers to so-called “(non)Customer Service” are robotic and they funnel you through a menu maze and FAQs. Few callers succeed to reach a live person
Your channel just popped up for me. Thanks algorithms! 👍
A lot of people are doing the exact opposite of what they should be doing because they have no other choice. But there are also many others who do have a choice live way above their means thus getting further into debt. Crazy world for sure and I never would have imagined that our once good US of A would ultimately become like this!
At 59 years old. I don't believe feds numbers, we don't feel it
Less workers means longer waits for important repair services also.
Yes, thus causing a negative trickle effect all around with services. It’s already been bad enough and even more so now with calling and getting ahold of a customer service representative. Automated systems and voice prompts are so annoying and time consuming too.
I am not surprised that hedge fund managers are interested in child care. It’s a huge cash cow for the businesses involved for something that is nothing more than babysitting. The best thing that happened to us was when our daughter joined a gymnastics team when she was 7. The cost was half that of the daycare center for the same time and she was learning new skills.
Last time we had stock market all time high and economy in recession was right before Great Depression. I think by now only blind can’t see issues and troubled economy. I understand why politicians and MSM avoid this topic in order to prevent panic and even more trouble, but that’s just kicking the can down the road. Sooner or later US govt will admit recession as German or UK govt did - these economical issues aren’t “temporary” and the only way to get reelected is to admit them.
Thanks for mentioning private equity.. these companies are out of control.
Defining “needs” and “wants” is so so important.
"Spend some, save some." My elders instilled that into me when I was a child so much so that it's automatic for me to do so now. My attitude about getting a raise, for example, is not so many: more money that you can spend. No. That's more money that I can save 😉
Inflation is less money you can save. Permanently. What is the point?
I work in a large (actually the biggest in North America) privately owned FBO's , been at it for more then 30 years and corporate AC inspections, repairs, modifications are NOT slowing down and
the company I work for can't build enough hangers or get enough experienced AC mechanics to keep up. To me honestly the best indicator of how the economy is doing is when corporations ect. stop or slow down what they spend on their AC and when sales are down also. Right now its through the roof, that however can change quickly, I seen that happen also.
Signature or Atlantic? I’m at one of the fractionals and we are busy.
I'm glad I'm retired and don't work anymore . Income is low but my rent is fixed at 25% of it .
dodged a bullet boomer?
@@1101-f6z
Not just boomers.
I retired (FIRE) debt free at 49 in 2020.
Yes. Me too. I’m so happy I retired free of debt and left the wage slavery rat race workforce system in 2021. Today our family of retirees is gratefully blessed, thriving and enjoying a well earned comfortable retirement.
I wonder how many Americans are aware of the deflation in China. MANY employees, in various industries, are not being paid. Some companies are over a year in arrears.
The remarkable thing is that the public is protesting more and more over the past two years. It takes desperation and courage to stand up to the CCP!
Comments are better than the morning paper and more on point...☕
I work in manufacturing in CA no layoffs yet but my hours have been cut
Yep! You NEVER mention the mere thought of a CEO being let go, which would save companies enormous money. Why harp on the little guy possibly making a measly $20 per hour in lieu of $7.50 to feed their family?
I always think that. They could save millions if they cut from the top!
Walmart is dropping employee pay back down. Heaven forbid that the Waltons might lose a few bucks... How can they live if their 4 million an HOUR is cut back a little?
@carolbagwell6769 If the Waltons hit hard times, perhaps they will end up in the same gated community, with this guy, 👦 who appears to speak I'll of anyone making over $9.00 per hour.
Agree.
Friend of mine lives in a small town with just above 2000 people.
The factory in his town shut down due to high state taxes and lower sales .....over 300 jobs gone directly with that factory not to mention all the subcontractors that work for that factory.
Friend of mine has a friend that just lost his job add a place that hires around 900 people..... at this time they laid off more than half of the people and now they're talking about laying off some more
Stock markets were at ATH, just before the 2008 financial crisis.
Stock market has hit ATH many many many times over the past 100 years too….
Taxes, rate hikes, charges, fees, surcharges, more taxes is how they make a ton of money by nickel and dime-ing everything on every level. Apparently, anything can be taxed . . . and it's working like a charm.
And the sad reality is our government and politicians are in big favor sending those taxes they collect from us to send to Ukraine and Israel to support ongoing wars and also fund the illegal migrants here in America much more than our needy people and homeless veterans, sadly!
@surfacenavy6412
At the same time, even when there was funding, it wasn't like the VA was getting any. It's all going into the black hole that is the DoD budget
No worries, tent manufacturers are hiring ⛺
Enjoy the new future, tiny homes and old rvs if you're lucky, tents if you're not. Such a great American dream isn't it?
@@hoppeanofasgard1365 right along with inflatable furniture so you don't have to worry about flooding 😁
@@hoppeanofasgard1365 is Valhalla in Asgard? Norwegian?
@@hideoussails1783 Yes blow up furniture, certain to lower your insurance if you live in FL!
Yes it's the heaven of Asgard, worthy warriors get to ascend to that part of the realm.
Norwegian mythos, yep.
Yup just happened to me. Thought I was safe because the company bought land to build a new building and found out this Thursday. That they are going shutdown our site and cancel all plans for us. lol
My company avoided layoffs by not hiring anyone. Good luck trying to lay off anyone in a three person company that's overworked LOL
Outstanding video as always, MICHAEL… Can’t wait till you get to 30 minute videos. It’ll almost be like your own TV show.❤
I have to keep up with the Jones. I "need" that $100,000 2024 truck.
Most normal people are not doing that
Big trucks almost never get used as a truck especially if it looks pretty.
I could win a 150k lottery an still wouldn't pay that for any new vehicle though people do.
I know a young couple, They know they never can afford a home so they spend on everything else. Lease cars, Dinners out, student loan payments, no savings.
Pretty much how this and future generations will live.
Next generation is very frugal. We are heading to a very different socio-economic environment than 90’s or early 00’s. These folks won’t spend like crazy, cause they got used to a simple life.
Im 24 and got my a first house in 2022. Its definitely still possible, just not as easy as it was.
Living below your means is difficult when you're just trying to live,...
I, along with a couple hundred other people, was laid off from my medical coding job back in January and I still haven’t found another job.
Hey I drove by you earlier I saw you keep doing your thing
At what point in the video did you drive by?
Transparency and free information is the first step for change thanks for your video!
Well, I know someone who drives for Doordash in California and he thought this underpaid gig would get him through bad times. Well, the last 2 1/2:months have been slow, but this week, he had 2 dashes for $13. He started asking questions and from what he gathered, they have hired way more people than they need. ( So that story they are crying about in Seartle is likely Doordash overhiring and manipulating their workers and the government also) And heres the kicker, a restaurant owner told him that he was seeing many new people who cant speak English..from Venezuels and Ukraine. And some are dangerous, they have come behind his counter to take food and not wait or communicate properly and one of these immigrants took a customers pizza and threw it at him the other day. Im guessing that these people are likely illegals. But wtf is going on with all this insanity. Doordash possibly hiring illegals ?( Im just deducting, no proof, but it kind of sounds like that) and putting underpaid Americans on the fringe out of business? Yeah, even your underpaid gig work is undee threat.
Insane
I just had an Uber driver that couldn't speak English...
Doordash over hired for sure, you have to schedule to work in 30-minute increments, and sometimes they still won't let you work. Forget that!
I wasn't born to be a doctor or lawyer. I wasn't fortunate enough to go to college. My parents were not rich and I didn't want a bunch of debit. So I did the best I could with what skills I built. Unfortunately its not enough to sustain a descent living. Average Americans are forced to make difficult financial decisions everyday and our government could care less about the people they swore to serve. Major corporations are owning us and landlords are price gouging us right out of homes. Most of all there is absolutely nothing we can do but vote but even then there is no guarantee that whonwe vote for will deliver on their promise. Yes, and don't get me started on taxes and medical insurance. 😢
I was a Paramedic for 32 years, I was never laid off. My wife was a RN for 30 years, was never laid off. My son is a Firefighter, he has never been laid off. My daughter is a diesel mechanic, she has never been laid off. Figure it out. And oh, we only have 2 year degrees. We all make a comfortable living, even now.
I don't think paramedic is still a 2 year degree. 4 years for x-ray tech now.
@@francismarion6400 At one times when daughter was in college , she wanted to be a
Xray Tech , she changed her mind. Instead she's a dental hygienist , where she lives they
pay her a decent wage and in that region , they are lacking in dental hygienist , that's why
they are paying good wages. Happy for her , she works very hard , she's no slacker at all.
if anything she likes to work and help people .
Registered nurse needs higher education
Registered Nurses at the College I went to was five years. Where can you be a RN with just an Associates Degree?
@@JGSuttonJr N)
You can become a registered nurse (RN) in just two years with your associate degree in nursing (ASN).
Imagine what the retirement will be like for those who will try to retire in the future? Scary.
Great point most social security people that won't cover today's insane rent or mortgage an vehicle payments an surely not for a single person
Never trust companies to have your back and always live within your means to prepare for the worst .. no such thing as job security, avoid debt as much as possible. Interest rates should be increased, Housing way too overpriced. We also have been brainwashed to look down upon social programs but trust me .. that's what the country needs, along with politicians to defend people from greedflation .. corporations should be limited from entering making a business from things we need (housing, healthcare, education, etc..)
The only objective of a business is to turn a profit. Nothing else
That's the thinking that got us into this mess!!!!!!
Love your videos, really objective and informative, keep em coming!
If I got laid off tomorrow, I wouldn't be in trouble for 2 years based on my current expenditures.
your probably in the 10 percent of the population who planned ahead for hard times.
@@jonyjoe8464 Yup. Really the only thing that would throw that off a little bit would be inflation.
If I got laid off tomorrow, Unemployment Benefits would last to my retirement.
I really wanted to retire in the next three to four years, but now, because of the way the world’s going, I’m going to try to hang onto the job for as long as I can!
That’s awesome. Good for you! Planning ahead and being smart.
Michael called it right. The layoffs commenced when CRE started to dive and remote work got curtailed. It's been a rolling snowball ever since.
If a hamburger goes up to $18 it's not the employees fault it's the shareholders
MacDonald's pay decent wages in other countries only because they have to. Big Mac here is $7.90 (USD$5.18) and min wage is $23.23. So it's just greed and they know they can get away with it in the US.
If you have a 401k, you are likely a shareholder.
Not necessarily. It's the Federal / State government's fault for raising taxes and igniting inflation - like a domino affect, the higher cost to do business will get passed on to the consumer. Shareholders of a restaurant could gain OR lose because of this.
No, its the politicians fault.
In-n-out burger $10 for cheeseburger, fries & drink 🍔🍟🥤.
Power - Profit - Control, all day every day everywhere.
No insurance companies on the list
UPS is laying off 12,000 supervisors, it has 93,000 supervisors, one for every 10 drivers. Does that make sense? That is way more than 12,000 excess bodies.
Woohoo, more folks coming to Skid Row - party time 🥳
The majority of the people in the US are doing fine. Many people that are in financial trouble is due to their own mismanagement of their finances.
You are speaking truth! Keep it up brother!
Most people aren't content with what they have. They won't live within their means. They've got no one to blame but themselves. I bought my starter home here on Cape Cod 30 years ago. Raised my children here, paid my mortgage, property taxes, etc. I live 6 minutes from the beach. Everything is just minutes away. Hospital, groceries, retail district, etc. I'm debt free on top of it all and it's all because I've been content and happy with the blessings that have been bestowed upon me. 🙏🙏🙏🇺🇲✌️😎
@@frenchfred3 Right? Sounds like he got his when everything was cheap. Telling people to live within their means when everything is way more expensive now is a joke.
This guy is so Doom and Glom.
I'm not really sure what people are expected to do.
Most people want to own their own home - well you need ALOT of saved money to obtain a viable mortgage to be able to do that, I'd say at least $25,000 minimum. The less of a deposit you have saved, is the more you're going to need to borrow, and the more you borrow is the more you are shafted on higher interest rates, which eat into your monthly outgoings.
That aside, let's say for argument's sake you made it through the door and you have a mortgage - a mortgage is the biggest most burdensome debt you are ever going to owe and it's usually over about 25 years (basically most of your peak years).
The problem is, that once you have a mortgage you are in the most precarious position you'll ever be in because most people are right at the edge of their budget once they are in the home, which they don't even own until it's all paid off.
Inevitably, when interest rates go up, that eats more and more into your budget and if you lose your job, it is all over.
You can't save an emergency fund if all your money has gone into your home (including maintenance by the way). The banks know this, they know that they will nearly always win, it's highly probable that they will get foreclosure and the property comes right back to them.
That's the problem here, the house to wage ratio has been blown way out of control from the 80's and it's getting worse.
I think the only way it's possible to save an emergency fund now, is if you rent and not buy, because then you can control that overhead. Rent goes up, find somewhere else cheaper to live. Once you've committed to a mortgage, you are stuck in the equity trap, you can't just up and move when things get tight as you could if you were just renting.
The reason why people are in debt is because they don't earn enough money, you only get one life, so you don't want to spend your peak years doing nothing but saving a pittance for a future because you can't afford anything. You're young now, you have opportunities to enjoy life now, no matter how little you have. We don't know how long we have to live, so you can't waste it just saving for a future you won't know even exists, there has to be a balance.
If you have been given the opportunity to use credit, you'd be smart to take it.
Big multinational corporations themselves live off of millions even billions of debt, it's not a bad thing, it's a bad thing only if it's mismanaged.