THIS Recession Indicator IS FLASHING RED!
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- Опубликовано: 28 сен 2024
- Predicting a recession can be tricky especially since there is no real official definition of what a recession is. But what we can do is use indicators that have predicted all previous recessions with almost 100% accuracy to reasonably guess if one is on the way. And this economy is right on the verge of a big recession.
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#realestate #housingmarket #homeprices #housingmarketcrash
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DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Michael Bordenaro is not a registered financial advisor. Your use of Michael Bordenaro’s RUclips channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, RUclips, E-Mail, and Instagram) for communications with Michael Bordenaro does not establish a formal business relationship.
Rate cuts commenced in June 2024, taking 6-8 months to complete. A potential crash, if any, might occur by March 2025. The soft landing narrative is gaining traction, making this big recession everyone is calling for less likely. With $1 million from a business sale, I'm seeking profitable investment opportunities for the next 3 years.
The financial market is a reliable choice. Diversify your portfolio with I-bonds, stocks (ETFs, REITs, dividend-paying stocks), and bitcoin. Given your budget, I recommend hiring a fiduciary to ensure you receive professional insights for a fee.
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.
Mind if I ask you to recommend this particular advisor you using their service?
Credits goes to " Vivian Jean Wilhelm " one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
This reference seems valid.. Just looked up her full name on my browser and found her site without sweat, over 15 years of experience is certainly striking! very much appreciate it
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
One strategy for protecting against a recession is to buy equities. Investors, especially during a recession, need to know where and how to put money in order to make money while avoiding inflation.
It has never been easier to understand how to build your money than it is right now, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investtments, in my opinion, are complex.
Working with a Financial Advisor to help guide you on your wealth-building journey if you're just starting out is a wonderful way to get started and thats how i was able to accrued good gains . They helps to manage investment overall risk profile , prevent permanent loss of capital consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your financial goal
please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
Inflation, bank collapse, severe drought in the agricultural belt, recession, food shortages, diesel fuel and heating oil shortages, baby formula shortages, available automobile shortages and prices, the price of living place.
It has never been simpler to grasp how to expand your wealth than it is right now, thanks to the availability of competent portfolio advisors that can help you experience and learn about a market with a wide range of assets. I think it's impossible to predict how changing dollar values will affect assets.
Yes, I have been in touch with a CFP ever since the outbreak. Today, investing in hot stocks is quite easy; the difficult part is deciding when to buy and sell. With an initial starting reserve of $80k, my adviser chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
How can I participate in this? I sincerely aspire to establish a secure financial future and am eager to participate. Who is the driving force behind your success?
Sharon Lee Peoples is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
I looked her up, and I have sent her an email. I hope she gets back to me soon. Thank you
"When your neighbor loses his job, it's a recession; it's a depression when you lose yours"
Great point
LOL
Recovery is when Biden loses his
And a recovery when Biden loses his.
I'm retired and I'm trying not to outlive my Nest Egg. 😂
I wouldn't think of this as a "recession" so much because that sounds temporary. This is a permanent reduction in the wealth of ordinary people.
100% agreed.
Correct. New America
Exactly. In my area, people are working and the restuarants are filled. That's not a recession. That said, times are tight for many people. I hear complaints all the time. It's getting pretty bad.
It's worse than a recession because almost everything costs more now. Most of these higher costs are the new norm. Affordability is becoming a real issue for many people. People need to be better with their money.
NWO
There used to be a lot of “job fairs”. We don’t hear about them anymore.
Everything is internet based now. Sorry to state the obvious. You go to businesses in person to attempt to inquire about a job and they tell you to apply on-line.
so true
The absolute truth is . . . .
Rich are getting Richer and
Poor are getting Poorer .
That's the plan. 😮
Same old story. 😢
Terrible formula! Not sustainable!!
That's what's been happening for a long time now
@@user-xy6ey7fc6f Since Reagan went back to the old failed tax code of 1929. Citizens united from SCOTUS put the disparity of income on steroids.
Anyone who says this is the best economy ever is delusional
How dare you call Biden supporters delusional! 😮😅😊
Delusional
No, they are financially stable, wealthy and picking up distressed assets OR in prison OR illegal aliens!
Do you look at the glass as being half empty or half full? 😂
@@BREEZYM6015 3/4 sheyt
A meme I saw the other day, " As I age I'm getting stronger. I can lift $100 of groceries with one hand."
Rent, vehicles and food continues to climb.
I work, sleep, work and still falling behind.
Read Austin 3:16
You are already tough. The strong will survive this. You are miles ahead of the weak and clueless. When you believe in yourself you can do the unbelievable.
I'm buying only what I need. Cut back on groceries for 6 months. Had to dip into savings for Termite infestation.
@@000buckshot4 Great advice, especially Psalm 91:14 that verse really calms the nerves.
I lived the work, sleep, work, fall behind for 40 years until I wised up and paid off my house, quit buying new cars and charging CC for s..t I couldn’t afford. At least I have a roof over my head and reliable wheels, more than many have. Maybe we’ll have a deflation like 2008 if we crash and burn. Actually prices have come down on essentials, not enough for sure, gas, etc.
Just make a long range goal of no debt..it took me 10 bare bone years but without that I wouldn’t ever have been able to retire because of poor judgment calls in my younger years.
I am no economist, but I currently make the most money I have ever made in my life but feel the poorest I have ever felt in my life. Every is so expensive 😢
I never thought having 300,000 in my pocket I would feel broke.
Minimize those expenses. It takes sacrifice during times like these. Be as efficient as possible with what you have 😊
The dollar is down, so your income may be up, but probably the same value in today’s economy.
@@dennyfie Please. If you have $300,000 in your pocket, you are doing just fine.
@@dennyfieI hope it’s not all in the bank!
As one of the "Little People" (the filthy unwashed poor) I work as a baker, and my department and every other in my store is running with skeleton crews, everyone is fulfilling multiple jobs, equipment that should have been repaired ages ago is being kept running with duct tape and bubblegum. Corporate is squeezing every penny it can and working people ragged while cutting hours and refusing to hire people.
My Uncle lives in Byron, right on the Rock River, small world Mike!
You need the butcher and the candlestick maker to complete the trio. 😂
Slow down. Why bust your back if the CEO doesn't care about you? So many ways to slow things down and if all in your shop did the same maybe the company would hire some help? Just a thought.
@@votaric they would probably just fire the person and hire someone who will bust their butt. That is the reality. The CEO does not know these people, he has a Yes man that is running the store with more of those as managers. I do not know how old you are or what kind of work background you have, but working a job is not like a hollywood movie.
Yeah, I feel like a lot of businesses are operating like that now. One of the last steps before closing it seems. I’ve been to Byron a few times.
I live in Rockford. See the steam from the Byron reactor cooling towers daily.
We are getting ready to hunker down: paid off my car and our renovation loan this year. 4 years left on our mortgage and that’s the last debt we have
Oh wait...the property taxes will follow you!! LOL....same boat here...
When the markets crash you’ll lose more than if you took the investment and paid it off now.
Who cares
How old are you?
@@steves3688If property taxes are all they're going to have then they're way ahead of the game.
Never ever will they announce it in an election year.
Bingo
They would if the guy currently leading the polls was seeking re-election.
no recession until actual jobs - "PAYEMS" on FRED - falls.
They are setting things up for a huge crash at the beginning of 2025.
Nailed it.
Drive for Uber, wear out your car….brakes, tires, you’ll pay 50% of earnings eventually on gas and maintenance, repairs. Higher insurance….Amazing that this covertly deceptive employment model has taken hold. What a rip off. Get people desperate and …well….there it is. Sad.
True indeed. The people that love App jobs fail to comprehend every point you made. Also they seem to be okay with not getting any benefits like medical, vacation pay, sick pay or unemployment insurance. Gig work and App jobs are horrible on many levels.
The last Uber driver I had did not speak one word of English. I think he used the ID of a friend to drive Uber.
I drive a produce truck in CA, when I used to hit the docks 2 yrs ago there would be like 10-12 trx dropping loads, now I'm lucky to see 6-8. The company I drive for has store and wholesale out the back. The wholesale feeds local restaurants and small markets. about 20% of those have shuttered in the last year. The ones that are open have reduced their purchasing. The government has been gaslighting us for years because if they tell us what's really going on then it will trigger a complete depression. They want to control the collapse so they can 'reset' the financial system into the CBDC. Gonna get frosty.....
It will trigger a "run on the banks!"
CBDC? No. We are already running on digital currency. If everyone tried to withdraw their funds, none of the banks would have enough fiat to cover it. Many people think the government will institute UBI. I don't see that happening either. The Federal Government already pays entitlements. They don't want to pay more.
@@DIVISIONINCISION Banks only carry 10% of the funds they have as deposits ! So your wrong its not because of any issues with the dollar. The Trump administration PAID $ 9 Trillion in entitlements to the Fat Cat 1%ers & Corporations but called it Tax Cuts ! Socialism for the wealthy but we don't want to call those entitlements do we ? 😎🌞
Truck driver talking out of his azz.
@@DIVISIONINCISION Entitlements ? You mean the programs called Social Security & Medicare that I PAID INTO for the past 53 years ? While the Tax Cuts of $9 Trillion were HANDED to the 1%ers & Corporations when 45 was in there !
IT IS GREED, NOTHING ELSE BUT GREED
Greed is what make captialism work. Why it no longer works is the government has gotten in the way... done bail ins, bail outs, kept the borrowing rate at or near zero for 15 years etc. You can't have price rejection when there is too much money be given out freely. Those days are gone. To know for sure we just need to look at the 10 year yield. It is going up not down. There will be hundreds if not thousands of companies that are going to go under.
It's when the yield curve un-inverts, that's when the recession occurs. The yield curve has been inverted for the longest time in history now. The Fed is keeping the short end of the curve up, delaying the un-invert.
Your sister is so fortunate to have a brother like You 💕
So happy you are sharing her new beginnings 🌿🕊️
Thank you so much that’s very kind of you. I’m very proud of her!
I think it’s been rough on everyone. Take care everyone.
Not everyone... in inflationary times the rich do very well. That is because asset prices inflate. They own the majority of assets. If you are rich you want Trump back in ... he is going to make inflation worse. If you are not rich you don't want him back in. That of course is just talking about money. There are many other reason for or against. Like what the constitution actually stand for, ability to actually defend the country etc. Most people don't don't care about that stuff they care about their money.
To Quote Frazier Krane, Everybody have fun tonight, Everybody Wang Chung Tonight.
Thank you! You take care too. ❤
100% I would much rather have a recession that hurts for 3-6 months rather than dragging out inflation and fed rate speculation for another year.
I agree
Yep , get the higher rates for longer past us. Already seeing better prices at the grocery store & more sales. Also clipping coupons but nobody here seems to mention anything about constructive ways to fight back. Instead its all everybody else's FAULT ! Don't ever point the finger back at me for my failings to adjust ! 🖐Lets just watch the Doom & Gloom videos & 😢😢😭😿😢😢😭
A recession is not going to last 3-6 months. China bail you out in 2008, and you reward them by bulling them for the last 6 years, so they aren't doing that again. On the contrary, they are decoupling from you together with plenty of countries, so how your going to recover in 6 months? That's the problem with the US, the delusion and arrogance. You really think your the dictator of the world and everyone is going to bow down to you? You don't produce anything of worth anymore, your wealth it's all in the financial system and the dollar, so you're much more disposable than you think you are. It won't happen out of sudden cause that's not good for anyone, but slowly but surely you'll be replaced. There's not coming back to the way it was before, that's why the government is stalling and preparing the war machine, obviously, that's their 'plan' to 'fix' the economy if you don't know what's going on.
Rip the bandaid off already!
Me too. I can handle short-term tough times and manage as needed. But dragging on something bad with no end in sight is what I can't stand
@ 17:03, incorrect. They understand COMPLETELY what they are doing & how it effects the people. They know.
We are in a recession no questions asked. Possibly depression, time will tell.
Pull up PAYEMS for me in FRED. You people are nutso.
Speak for yourself 🤓 🖕
Our business has been barely hanging on since last October…. People are out of money. Recession or not, it’s bad
not according to the numbers
I lost my corporate job in 2008 and getting a new job at 51 was definitely difficult. So I became a realtor to help others in short sales and foreclosures. I worked very hard but I was able to make up for my corporate job pay.
If you dont STREAMLINE , you'll always be under pressure
@@kingscairnthe fact is that you can only streamline so much
Congrats on your effort and success in so doing.
They don't want to call it a recession because they are in charge
The official government definition of recession means nothing to the average consumer. What matters is how much money we have left a week after payday.
Very true and let me just answer you right now... none we have no money at the end of the week 😔
Absolutely that’s the point I want to keep drilling home
Best definition right here. We are not in a recession by the govt definition. But times are getting tougher, so.......
Michael's sister can afford to get married so Rock Falls must be doing something right ! Life goes on despite the Doom & Gloom videos Michael is making. Pain & suffering everywhere but the Insurance Companies making Big Money off consumers. No video about the Fat Cats banking coin Michael ? Shame on you ! What did the stock market do ? Lets not talk about that right Michael ?
I wish I could find a job and know what a paycheck means I have a couple month of savings and don’t qualify for unemployment
When they change the definition of recession that tells you all you need to know. Listen to your gut.
This administration has changed definitions for everything lol
WHO, WEF and other globalist has changed so many definitions lately ‼️ That's the Noveland ‼️🤮
nobody's changed anything. Read the December 2008 NBER recession call for what they look at FFS.
no definition was changed
The Old Definition
Old economists defined inflation as an artificial increase in the money supply within an economy. In fact the term inflation has been borrowed from the metaphor of an inflated balloon which looks big but lacks any substance in it. Inflation was therefore purely a monetary phenomenon. Old economists did mention that rising prices was a symptom and an effect of inflation. Notice the difference, rising prices was the effect and not the way in which inflation was defined.
The New Definition
New age economists define inflation as the “sustained rise in prices of goods and commodities” across the economy. To the average person, this might seem to be stating exactly what is written above. However, there is a huge difference.
Notice the change from. artificial increase in money supply to state of rising prices. New age economists refer to the increase in monetary supply by a different term called monetary inflation whereas when they use the word inflation in common parlance, they are usually using it to mean price inflation.
The change in definition is therefore no where subtle or inconsequential. Instead, the ramifications of this definition change on inflation theory are massive.
We never recovered from the 2008 recession! Housing prices doubled and only decreased by 30%. Wages stayed stagnant if you were even lucky enough to get a job and home ownership for the average person was still unattainable.
The 2012-2022 was a gift. Many people recovered, those that '19 didn't take from us I guess.
I am thriving. Why aren't you?
@MrSteeDoo really stupid question. Everyone has a different set of circumstances that either facilitate success or not. There were many victims of the great recession that found themselves in the same shoes as me. I'm glad you're thriving, but maybe think before you type.
My business is way down. Business at the water-park my nephew works at are soft and less than last year. Houses are not selling in my area and restaurants are closing.
Can we trust the government reporting of economic data especially in a election year?
You can't trust them in ANY year. All the numbers are cooked. Not just cooked. The are "well-done."
If it's only information they can bend it all they want.... John Mayor
Never trust anything they say.
plenty of private sector indicators back up thier numbers
When they started printing all the stimulus checks my husband and I positioned ourselves to be able to handle what we saw coming. We left Seattle and moved back to our house in MT. We stopped buying a lot of different things and have basically just kept our overhead low. I can clearly see the price changes with everything. I'm also sure I'm not the only one that even if I can afford something, there are just certain price points I won't pay for certain items. I've seen some things go up 200% but I'm supposed to believe 7% or whatever bs numbers they made up....sure >.>
They calcuate inflation on a certain basket of goods (you can google what they are). Somethings are definitely more than the quoted 7%.
ITS BECAUSE WE LIVE IN 🤡🌍
And led by the insane clown posse and Im not talking about the band!!! !
Yeh, Brandon will save us all!
Yes Yes we do. Get some popcorn, folks. Enjoy the circus!
Clown world? 😂
Clown World Yep here we are
its eerie how you can walk around for miles in these nice areas with wide sidewalks and parks and there is no one else on the sidewalks, there should be kids running around and playing, its like post apocalyptic, everyone is a shutin glued to youtube like me, its a sign of the times
My husband and I live in NYC, and we are so tired working full-time to pay our taxes and monthly mortgage payments along with house insurance. We have 2 children. Our living expenses have increased dramatically over our annual pay raises. We just received notification from NYC DEP that they have placed a hidden tax on our water and sewage starting July 1, 2024! We will soon need to use either our emergency funds or credit cards... Suffering with no path out.
Yeah - Cash Jordan did a show on the rising water costs in NYC
Leave NYC. There is a way out. some think pretty much everwhere else in the world is a nicer place to live. My cousins have all left, they are living so much better in Philly and Baltimore areas.
How can it be a hidden tax when they tell you about it? Is NYC forcing you to stay?
Best wishes for your sister Sarah and her fiance/husband. 🎉🎉🎉 Thank you for addressing the real world.
Thank you so much. That’s very kind of you. I will tell her that!
@@MichaelBordenaro😊😊lllllll
Lol
Waving hello from Rockford, slightly north of you on the same river
Pure m
The inverted yield curve is 100% accurate. Inverted 700 days now. Question is how bad.
It’s been over 700 days. According to what I’ve found, in 1929 it was actually at 700 days even. Don’t know if it’ll be worse than that but it will probably be worse than 08. I’m going to say it’ll be around 15% unemployment.
@@c.m.c2024 you people are insane trying to make something happen that does not have to happen.
@@tachikaze222 I’m not trying to make anything happen. It’s already happening. If you capitalize, your money will go up in the coming downturn. Not down.
@@c.m.c2024 downturns happen when the government reduces deficits. That aint happneing right now so we aint getting a downturn
@@grimaffiliations3671 their deficit is only so high because they raised rates. They’re having to finance that 34 trillion on much higher interest rates. If they start cutting rates and reducing the deficit, it will be because they see shit starting to hit the fan. Because they’re not going to hit 2% inflation without something breaking.
This is the first month we've missed our mortgage payment, and we're running out of savings to pay even our regular bills..
I use the local food pantry on occasion (I am an actual "poor" person). I have never seen the shelves as bare as they were this month. First time no govt commodities like dry beans or fruit. Used to be tons of that.
I would say this is a very accurate "canary in the coal mine" indicator of economy in deep doodoo...
If you eat every other day you'll be fine. I'm being sarcastic obviously
@@stevenotero2627 i am fine but I would not know you were being sarcastic unless you said so. I choose to use the pantry because it preserves my small income for other uses. I fast often anyhow but for health reasons. Highly recommend Dry Fasting per Phoenix Protocol...August Dunning yt teaches how/why. After 7 days you start reverse aging. For real--I did it. Also knowing I can live 7 days with no foid or water is a bit like having a secret superpower.
I fast a lot. For health reasons. Dry fasting is an amazing blessing. 7 days with nothing not even water fixes everything.
I responded 2x already and giggle is deleting for some reason tptb find dry fasting threatening...well they are owned by the same oneswho own the medical industries....
Michael, you're not gonna believe this. I've been following you for a while, the part that you are not gonna believe is that your content is perfect, I had a son at the beginning of the year, and while he was crying I often put content on speaker. To listen while I try to walk my son to sleep, you're video's are the only ones that get him to sleep in less than 20 minutes, while still informing me.
I guess you can't start early enough with financial education for your kids, maybe it's a bit too early in my case but still it is wonderful.
Now that he's like 5 months it doesn't help to sleep anymore because I have a FOMO baby, but he calms down a lot walking with one of your video's playing on the speaker.
Even when my GF comes home from the store or wherever, and when she hears your voice, the first thing she asks is "was he cranky?".
I think part of it is that you don't have any intro songs or weird tunes at random in your videos and that you talk consistently in a clear and calm way.
So I would thank you for delivering this awesome content in a pleasing to the ears manner.
I've had the same job since 1998. I did not notice anything in 2008 different than 2007 or 2009. I only recently heard about the 2008 recession. Everyone I know has good jobs so was the same as me. I guess bad jobs were severely affected. I am also just middle class not rich.
Just stopped by for my daily dose of “the world is coming to an end”.
🤣🤣🤣🤣
he just here for money.
I love to see the different locales he walks by, I will never go to Florida or the USA.
NO KIDDING! According to him, the world should have stopped spinning in 2021!
Jay Leno said that the economy has never been so great, but when you ask him how much are eggs milk and bread, he said that he has no idea because he doesn’t go grocery shopping. He only goes by fuel prices, which in California hardly changes; it goes from expensive to very expensive. How can he know how much it costs to feed a family of 4? He has no idea that eggs were $1.88 for a pack of 18 under Trump, to now it’s $5.98 under Biden.
it's mostly because of the stimulus money. unfortunately it's not really bidens fault. mostly obama and trump that caused this... oh and the FED leaving interest rates near 0 for 15 years. biden's an idiot but it's also idiotic to blame him for the inflation. this is the result of many many years of bad fiscal policy.
Remember under Trump gas ⛽ WAS ONLY $1.78
Eggs are cheap where I live
What would any multimillionaire know about the economy?
He used to be a conservative too.
Recessions are an unavoidable part of the economic cycle; all you can do is prepare for them and plan accordingly. I graduated into a slump (2009). My first job after graduating from college was as an aerial acrobat on cruise ships. Today, I work as a VP for a global corporation, own three rental properties, invest in stocks and businesses, run my own company, and have increased my net worth by $500k in the last four years.
A recession is when there is two straight quarters of minus gdp. That is what the definition is anyway. I know a GMC dealership in Montana that has only sold two cars in one month.
I am a sole proprietor my client base is the average American. For 15 years I have been very successful almost barely able to handle the load. I was averaging about $900 a day earlier in the year and now I am making 0-250 a day at most. My rent is going up and now I’m closing my doors and have to seek out a regular job rather than able to live the American dream taking care of myself on my own. My clients arent poor people or rich people it’s the regular every day American and they no longer have the money to do business with me anymore. Doesn’t matter if I have the most reviews and insane consistency over the years in 2 counties I can’t stay open anymore
Im curious what did you do, like what business? We have noticed restaurants that used to have 40 min to an hr wait are now 0 min to 10 min waits
@@mariebowman2152 I have a dog training dog daycare/boarding people no longer have the extra cash to travel to have the reason to leave dogs with me. People now seem to find friends family neighbors to watch the dogs that used to stay with us all the time. And dog training inquiries had gone down to nearly nothing compared to busy all day every day before
So many people who are living in the system with section 8 rental assistance and help with food and medical insurance and childcare and all the other stuff that goes with it, would not realize any change because for them all is the same. You have to look to the working poor. That's where it's felt the hardest.
You're a star, keep shining bright!
In 2008 I was not seeing homeless people camped hither and thither. Now theres a couple been sleeping in their car for last three mknths behind my Moms house...in a church parking lot. They have jobs but cant find an apartment they can afford.
My mortgage was $580 a month in 2007.
@@justinlowry6522 I ought a fixer-upper REO house in 2009 at bottom of crash...paid it off in 10 years. No mortgage is the best mortgage.
@@justinlowry6522 have you paid it off then?
Record profits for landlords. Record profits in food companies. Record profits for banks. The problem isn't "inflation" it's the corporations sucking us all dry.
Most homeless in Oregon are because they are drug or alcohol addicts
recession is negative gdp growth 2 fiscal quarters in a row and that gdp growth is easily manipulated by all the corrupt gears of the market.
recession is NOT JUST negative gdp growth 2 fiscal quarters in a row . . . you people have misinformed yourselves quite dreadfully and it's going to bite you in the ass of you don't figure this out
@@tachikaze222what does it matter? Would it change any decision you make?
Right now are the good old days. In a while, we'll be worse than Venezuela.
About gettin' laid off in a recession, how it impacts your future earnings negatively, I can verify that. I was the manager for a regional office that was closed in -09. I got a decent deal when they closed it, still it was pretty impossible at the time to get a similar position.
So I started doing other jobs, eventually I had some small businesses doing landscaping etc, but it never paid near as much as the job I had before, 'n forget about the benefits, so I probly "lost" at least as much in lifetime earnings as mentioned in the vid.
All in all though, it was more freedom, being your own, 'n more fresh air outdoors. Now, I'm retired. 😄
Ducks wading peacefully on still water is a nice touch
I do ubereats in south florida. And yes - we have seasonal snow-birds who have left the area.
BUT - my orders and income have dropped off by 80-90% in the last 6 weeks - in this area.
AND - my online marketing on eBay and CList ( 25 years - 16k items sold ) has ALSO dropped off at the same rate ( 80-90% )
AND - my HOA was bought by private equity and the fees went up overnight by $ 350 per month.
Boo hoo? Get a real job lol
Private equity purchased your HOA...you need to move. Today.
That’s a real life stat right there and I appreciate you sharing it with everybody here.
When will people realize that corporations and government are your extreme worst enemies.
If homelessness, crime, prices for food and shelter, consumer and government debt, bankruptcies, auto repos, increase year after year is that the sign of a healthy well functioning economy?
crime has only fallen from its peak in 2020. Food and shelter are up, but so are wages. Consumer debt as a share of income is actually better than it was pre-pandemic. Government debt is indeed a sign of a strong economy, as government debt = private sector assets. Bankruptcies are historically low. Growth is very high, unemployment is very low, inflation continues to fall. All signs of a great economy
@@grimaffiliations3671 So people living paycheck to paycheck and maxed out on credit feel like this economy is doing great? The thousands newly minted homeless many over 50 years old who can't afford food and shelter on whatever income they make feel just like you that the economy is doing great? Crime isn't a problem for you, so that proves everything is great. Government debt isn't a problem at 35 trillion and at 125 % of U.S. GDP so why don't we run it up to 100 trillion or more?
@@Resmith18SR People who are struggling dont feel like the economy is great, but all economies have struggling peoples, even in boom times. I'm not saying everything is great, thats impossible, but it is certainly a great economy by most metrics. And the number of people living paycheck to paycheck isn't particularly elevated by historic standards. People are not even close to maxing out their credit cards, as credit utilization is around 20%. Crime is has been plummeting for over a year now, thats objectively the case. Again, you're trying to imply that we cant have a well functioning economy unless everyone is doing great and crime doesn't exists, which is ridiculous. It will eventually hit 100 trillion, and that will be just as fine as the currency 35 trillion is, because the economy will have grown massively by then
@@grimaffiliations3671 I'm just curious as to how many people reading your last comment would agree with you. I'm guessing not too many. You're saying in your mind this is a great economy by most metrics. Here's a metric I just read, Clark County Las Vegas NV officials say that this is the highest amount of of homeless they have seen in 10 years. That's a sign or an example of a great economy? Why did Powell raise rates so quickly if inflation was under control? And if he lowers rates soon why would he lower rates if it's a great economy? All these people complaining about unaffordable prices for rent, food, purchase of a home, insurance, are all lying?
@@grimaffiliations3671 Also when did I or anyone ever say that EVERYONE has to be doing great financially in order to have a great economy? Why are you in the minority in your beliefs that this is a great economy? I think you are and you know it. Your saying that I believe that crime doesn't exist or that Americans don't feel or believe that crime is increasing? You're gaslighting just to get attention or you're actually Paul Krugman or President Biden.
Thanks for the videos. I watch them all during work as they help me stay up to date and also to focus. The content is great and I appreciate that you don't use over the top theatrics and tell things like they are.
Congratulations to your sister on her wedding day and to her beloved ❤
Thank you for all the information you bring to us, Michael; it's needed and appreciated! Blessings to your family!!
Thank you so much, Catherine. That’s very kind of you!
@@MichaelBordenaro You're very welcome Sir!
My groceries cost over twice as much for the same things than a few years ago. OUCH
It's called inflation
$9 for a big box of cereal. $14 for a large bottle of ketchup.
These corporations are robbing us. You don't get what you pay for anymore. You over pay or do without
You could afford to skip a meal or two.
Bananas and Potatoes are cheap.
49c per pound of bananas
$3.58 for a 5lb bag of potatoes
People have spending problems; that's the issue.
it feels like no matter how bad it gets that there will just be a larger gap between rich and poor, not everyone getting dragged down with the ship. It would take some kind of complete societal collapse for the massive wealth difference to really be seen at this point.
Keep bringing the truth, Michael! I say let it burn
I say let it rot.
And yet I have a great job. Just bought a new truck, new boat and motorcycle....sold a house in south Florida.....paid off a mortgage in WA. Zero debt. Doesn't feel like a recession to me.
"It's not happening to me. Therefore, it doesn't exist."
@@GameBoyDame😂
Where are all the trees? Why do city parks look like parking lots these days?
Infrastructure is becoming more and more brutalist. It is very depressing.
Yeah, this wasn’t the greatest park but it was by the river so I figured I’d walk it
Thank you Michael, your so realistic and honest, I really appreciate the information you give us and advice.
A lot of these employers nowadays, or even doing a bait-and-switch tactic. I know of a couple of people that have put in for jobs saying that it's one thing, go in for the interview, and it suddenly for something else and making far less money then what they advertised!! You can't even trust who you're even applying for a job with!! It's jacked up, not good??👎
Michael, I need to say thank you. You have inspired me to finally get serious about my finances. I have a ways to go but I’m heading in the right direction. BTW, I agree that we are already in a recession.
My industry is a great indicator of recession. I am in the freight industry and there has been a significant drop in freight volume for a year and a half. Public spending hasnt stopped yet, but manufacturing has most certainly seen a recession for a long time already
Michael I know people who work Uber DoorDash & Lyft at the same time meaning they have all the Apps on working 3 gig jobs after getting pink slips just to keep the lights on… Powell just understand numbers Not reality… Thanks for all your work & congratulations on your sisters wedding…. 🙏🙏🙏
Absolutely happens every day. Thank you for the congrats for my sister.
App jobs are a farce
So true... I've argued time and again. They need to stop deficit spending and be smarter with the funds they have... they won't do that. Could you imagine if we had a nation surplus of tax funds that could be used for infrastructure instead of lining the pockets of these politicians
We are entering a depression. There is no printing our way out of it this time. Inflation will crush us. The cannot stop spending because if they do it will be an instant depression and they aren't going to let that happen in a election year.
I couldn't find a parking spot at the rest area in Charlotte because it was jam packed with people living in their cars, so I'd say that's a pretty clear indicator of a problem.
My local small grocery store had about 25 people working in the aisles today, changing prices. I asked them what they were doing….they said “cleaning”. That’s not what I saw. Nobody had a rag.
sounds like they lied to you . Keep Your Eyes Open !!
One of our local grocery stores also major chain has been doing some very strange things lately to and the worst was milk went from everyday average price of 3.49 a gallon to 6.00 a gallon 😮
My Florida landlord just added a $60 convenience fee! Nothing I need or want! Credit tracking and alerts, maintenance requests, rent payment site? Why should I pay this monthly? If maintenance is needed, a request to landlord is costing me????? It’s BS!
Add a $500 admin fee to process their fee. Just make shit up like they do. Both have identical merit.
I had an HOA try this. I told them to F off. I’m not paying to pay my bill. My bank mails the check, All you have to do is deposit my check, kiss my a$$.
The nerve
Reminds me of my kids in college when we had to pay up to $500 a semester for a “homework code”. Meaning they had to submit their homework online and this is what they decided to charge each student for one class. Just ONE of 6 classes.
Read your contract. If it is not in there that they can do that, its not legal.
You have no idea how many people don't believe that there's so many of us who are actually struggling financially (can't afford food or emgetting phone/utilities cut off, etc). Im sharing your video with everyone I know
I hope you at least have a tux print tank-top for the wedding. When tough times hits your neighbor, its a recession. When it hits you, its a depression.
Ha ha for this one I’ll actually dress up😉
Recession,Depression,Inflation are killers for people on a fixed income.
Given the persisting economic crisis, it's essential for individuals to focus on diversifying their income streams independent of governmental reliance. This involves exploring options such as stocks, gold, silver, and digital currencies. Despite the adversity in the economy, now is an opportune moment to contemplate these investment avenues.
The pathway to substantial returns doesn't solely rely on stocks with significant movements. Instead, it revolves around effectively managing risk relative to reward. By appropriately sizing your positions and capitalizing on your advantage repeatedly, you can progressively work towards achieving your financial goals. This principle applies across various investment approaches, whether it be long-term investing or day trading.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I appreciate the implementation of ideas and strategies that result to unmeasurable progress. Being heavily liquid, I'd rather not reinvent the wheel, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
I’m a gas hauler (deliver gas to gas stations). We are historically slow. This is our busy season and we are even slower than during our typical slow season after the winter holidays. It’s brutal. It hasn’t been this slow in over 10 years. Scratch that….last time it was this slow was 2008-09.
Technically I think a recession is 2 quarters of negative economic growth or more broadly a general decline in economic activity. A depression on the other hand is a severe , multi year downturn in economic activity usually is several countries at the same time. I am in my 50's and have never seen a depression but my dad used to tell me about it and I knew a lot of older people that lived through the great depression and for many it changed their outlook on money and spending for the rest of their lives , they became more frugal and some even feared spending too much money.
Excellent.
The 1930s did a number on people, yes. My g'pa turned 18 in August 1929!
Ty for helping us make better decisions
My main concern is how to survive all of these financial and political crisis, especially in light of the US political power struggle.
Bad year for me, META down 40k, ALLP down 35k, Draft Kings down 6k, NIO down 15K, ABML down 8k, and my wife doesn’t know. I'm just hanging on to Jim Cramer's words about opportunities in volatile times so perhaps, I either wait for a recovery or pick profitable investments to substitute for my loss.
I agree that hiring a portfolio coach is a smart move and that in this case, patience is your best friend. I make a lot of investments and cannot afford to take the risk of doing it alone. Instead, since the rona outbreak began in late 2019, my portfolio has been maintained by a qualified advisor. I only need about $86k more to reach my three million dollar ROI goal.
I will be happy getting assistance and glad to get the help of one, but just how can one spot a reputable one?
Vivian Carol Gioia is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I find this informative, curiously explored Vivian on the web, spotted her consulting page, and was able to schedule a call session with her, she shows quite a great deal of expertise from her resume.. very much appreciated
I have been following you for a long time! Keep up the good work 💪
Terrible
I appreciate it!
The unemployment number is a big grey zone and a lot of statistics don't track the numbers properly enough so the actual number might be much higher!
OK so what if the number is actually higher? How would that affect your daily life decisions?
It’s been really fun traveling with you!! Looking forward to the next adventure. 😎
Did the definitions of the performance indicators that are used to determine if we’re in a recession change? If we used the definition from 2009 would we already be in recession now?
Go to St. Charles IL, absolutely beautiful with the Fox River and the beautiful downtown area. It's where I'm from :)
Don’t advertise it. The LAST thing you want to do right now is spoil good towns with refugees from bad towns.
@@ro6742 Or from over the border, down Mexico way.
I love riding my motorcycle out there along 31 & 25 along the Fox!
You can't use the unemployment thing anymore of the way the new companies have set app not paying anybody full-time.
So you can be working part time but not make enough to buy groceries
You are doing the right thing Michael! Thanks for being real in an unreal world!
Get used to the spending. Haven’t you heard? The 35 TRILLION dollar bill Is the new hundred.
Thank you Michael for your positive input on the economy and what is really going on. I look forward to your postings, jay
See what happens when an overbearing nanny state government gets in the way of free market workings?
Just let things fail and the strong will survive. I'm talking about business. No more bailouts! Americans will come back just fine. God bless Michael and thanks again.
That needs to apply to govt as well. We could start by disbanding all the non-helpful three letter agencies...which are actually NGOs and do not work for we the people anymore.
I and I used to work at St. Mary’s in West Palm and we had a peace pole. That exact one. I wonder if there are many? It was on the ground the last few years I was there because of construction. I asked to have it but never got the ok so hopefully they put it back up. Peace! Safe travels!
The only people saying this is the best economy ever are the ones who have been watching the market, and their stocks are gaining only because it's being propped up artificially. Not if, but when the stock market crashes, they too will be sent to the poor house.
For the first time in my life I am struggling to find work. The last job fired a load of people including me, that was a year ago. Now they are firing half of the department again and are trying to cost cut again. Good luck to anyone struggling. ❤
I hear ya. The place I last worked at for 28 years cut department budgets by 25% each year for the last almost 20 years.
It sounds like you have no skills.
@@patland1762the math doesn't work, at all.
Instead of a mean comment like Mrskidoodoo I will suggest maybe working for yourself while job seeking. I ended up unemployed due my contract ending and a hospital stay disabling me and started reselling on ebay part time. It's a slow grow but some people do well at it. Everything you need to learn is on youtube. I was highly skilled but found this a good option after not being physically able to do what I once did.
I blame all this on the politicians, every single one of them 🤬
Congress/ Senate, they are allowed to give themselves a 30 tho a year raise,are we?
That is why they are so out of touch with the real world.
That pay is chump change compared to kick backs for votes. Democrats use to stuff their pockets. Now they stuff their pants. Almost forgot the out of control insider trading.
Agreed...the majority has no clue how the common person lives and the challenges. They could care less. A few are a little bit more informed about reality for the average non wealthy person. The politicians only care about getting re elected and their own privileged position
The definition of a recession has always been 2 consecutive quarters of negative GDP growth. Recessions are not announced a year after 2 consecutive quarters of negative growth; they are announced when the data is released that shows we had a second negative quarter of growth; so we can be in a recession for 6 months before it is announced but not a year. Right now feels like a recession for probably 70% of the nation, so it really doesn't matter what the technicals are
Congratulations to your sister! 🎉 Just want you to know how much my family and I love your informative channel. Thanks for all you do.
Lost your job and dealing with high inflation sad times.
You are N.1 economy on the planet. Strongest military force too.
You borrow money.
Who do you borrow from?
Higher power.
Who is that higher power? Is that higher power give you loans for you to thrive, or for it to thrive on your back?