The PERFECT STORM For ECONOMIC COLLAPSE is HERE!/
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- Опубликовано: 8 сен 2024
- There is a huge narrative out there from the media and even previously the FED themselves telling everyone our economy is going to avoid a recession and we'll have a soft landing. Today I am talking to Adam Taggart of @Wealthion and he doesn't seem to agree with the status quo, here's why.
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We built out own house (my husband is a retired builder) here in rural central Texas for about $34,000 which was the cost of all materials. We finished it in 2014. I can't imagine spending a million or more for a place to live!!
New builds still going up in Central Texas. DR Horton and Precision Value Homes. Recession or not, they are still building.
We Built our own house in Northern California paid for it’s the only way we could have retired in beautiful area , note love California Hate the politics! There more republicans in California then people think 🇺🇸🇺🇸🇺🇸🇺🇸
@@cherlgolja5402 How do you feel about US Fascists and scrapping the constitution for a strong man führer like T advocates ??
Adam is the best! He is helping educate people one interview at a time. Wealthon is a game changer.
Good morning from Germany 🇩🇪 😃👊
Almost an hour long? That's a treat with these two
Mikes Guest is one of the best I have seen. great to see him I think I will be watching him too. Excellent at explaining this stuff.
BINGO Michael: [and to all reading this btw] at 35:40 he says our education system does a horrible job teaching financial principles [to paraphrase our astute guest]. Our education system omits teaching about that for a REASON, in my humble opinion ...Michael.
I live in AZ and everyone involved in the real estate market here just lies and still sells FOMO. I truly believe everything you both are saying but at the same time it is so easy to get frustrated and loose patience. My appt I have now is beautiful and $800 cheaper than buying a house. I have a large down payment that I have in a high yield savings account. I will stay strong.
AZ here too, we are sitting tight also:)
Also in AZ. Rents are falling if you track certain areas that used to command a high price (*cough scottsdale cough*)
Phoenix is priced out. You would have better options buying land in Texas. Arizona also has water shortage problems (Scottsdale).
AZ and FL probably most inflated states
Me too. I'm just gonna keep renting here until prices go down but I've been waiting so long.
Thank you so much, Michael, for adding Adam to your feed today. I follow him almost daily and find his feed extremely useful to keep-up with the broad economic picture. Also, you make a great duo!!
If you are properly prepared and knowledgeable, every crash/collapse/inflation or recession gives an equal market opportunity. I've seen folks amass up to $800,000 throughout crises and even do it with ease in a terrible economy. Without a doubt, someone has become enormously wealthy as a result of the crash.
I agree that there are strategies that could be put in place for solid gains regardless of economy or market condition, but such executions are usually carried out by investment experts or advisors with experience
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve notwithstanding inflation, from $275k to $850k.
Please can you leave the info of your lnvestment advsor here? I’m in dire need for one.
*STEPHANIE KOPP MEEKS* is the advisor that oversees my portfolio. She's been able to gain some reputation and online recognition with over 3 decades in service, so it shouldn't be a hassle to find basic info.
A lot of us are feeling a recession right now...
It's really appealing seeing nice, well spoken gentlemen politely discussing these matters.
Adam is a top shelf player and he recognizes your rapid progress and contributions to sound investing principles coupled with updates on important issues 👍🖖
Adam is amazingly intelligent and articulate yet speaks in a way that is not esoteric or arcane. Plain speak for plain folk in topics that can get very complicated and difficult to follow.
Thanks for keeping it real each day Adam!
i am so glad you asked adam how you doing? he probably has not been asked that in 32 minutes. i get asked how are you probably couple 100 times a day. when i begin to tell them how im doing the person seems disinterested. im thinking if he was not interested in how im doing why did he ask how im doing? tomorrow when you are asked how are you (few 100 hundred times), ask them how they were 2 and half days ago..... nobody wants to know how i was doing 2.5 half days ago
Two GOATS One Video
Is there a cup involved?
Our boy bordanero is blowing up!
Michael you should've asked him "whats your current assessment of the global economy and financial markets?" 😂
That’s pretty easy,
The EU will have the worst depression since the Great Depression. The US stock market will actually do fine while the US economy tanks. Asia will be fine economically. The US will get directly involved in Ukraine if Biden is re-elected
yes!!
That would've been EPIC.
3 negative quarters in a row is considered a recession...Remember. We where in a recession they just changed the name and told yall do not call this a recession...😂😂😂😂....
And changed unemployment formula, i hear it might actually be 25-30%.
Also the way they figure inflation.
Brett weinstiens wife mathed out a.proper formula, got ignored.
Amd that's not even mentioning central bank and thier Fractional reserve bullshit system.
We went off gold.
We have the largest gold pile in the world by far. It's only like half a trillion in gold lol.
What happen to the times where top energy producers were swimming in money?
We finally become independent and now export , we are the top now. But it's not talked about (it's been like 6 years since getting independant and I still see people say we need to get independant lol)
Why do they avoid calling it, it is just a word, the result is the same no matter if they call it or not, do they think we'll just believe them because they say it is not a recession. Do they think we are stupid??
He hit on the exact reason why we Californians stay despite the cost and all of the political issues... it's our loved ones! Our family, our friends, our roots and community.
New Yorkers as well…
Which is great for everyone else. The problems start when those large populations move elsewhere en masse when they get sick of the politics and economics more than they can use the excuse of loving their family who could also move if they really wanted. Coming from one of those areas and moving elsewhere myself, I wish those people that feel that way would stay put and quit making other markets hard for us to live in.
In FL we hope those who vote to keep that political nightmare alive just stay in the once great state they have ruined vs bringing their I’ll thought out voting habits here. However, we’ll gladly take all of your conservative refugees and the money that comes with them ;)
So thrilled to see Adam on the show!! You two and Nick are my favorite to watch!! 🎉
Loved this episode! Thank you Michael and Adam!
WEALTHION!!
Nice scenery ⛵🚤😃👌
A collab I didn't even know I wanted!!
I think they have to keep that narrative so folks continue to spend. Once people know it’s a recession they stop spending and things just get worse.
That is true. Our economy is comsumption based. But there isn't much production. Service based economy is basically people trading cheeseburgers for cheeseburgers.
Man you got Adam. Great show michael. I love when you get these other Tubers on.
Great to see both of you out on a stroll outside discussing how big this storm can be soon. 🌴🤙🏽🇺🇸🇺🇸
That's what they told me Michael! Buy now, refinance later. So I bought at a rate of 6.8% with a loan amount of $203,500. If you can find a 2 bed, 2 bath condo in Las Vegas for rent for $1,836 or less in a decent part of town then I'll kick myself for buying now. I think I'm paying less monthly by buying versus renting.
Great guest, Michael. Adam Taggart and his channel Wealthion are a great channel for us regular folks to tune into. 👏🏾👏🏾👏🏾👍🏾💯
Yep!!
Finally a guest! We need more man on the porch interviews too.
Adam gets it.
Adam Taggart! What a get! He’s A Rock Star in the RUclips financial space!
Illinois and California are a lot alike. I’m originally from illinois and now we joke the only reason people STAY in Illinois is because they have family there. No one MOVES there and you literally never see out of state plates except on the interstate.
Casual Adam I’ve never seen him without a suit on,I watch both of you all the time on RUclips always great advice.
That’s some great hair gel you use Michael! Adam’s hair is blowing like crazy and not a single hair moves! I’m impressed.
I lived in SoCal for a while and no I would not want to stay in CA. The only that’s great there is the weather and some friendly people. Some cheats and lies and down right scary. Then the politics sucks and politicians taxes you to death, utilities are high and housing is too expensive. I would have to work ‘til the day I die. Last time I was in SoCal to visit, everything is old, sad, dilapidated and the beaches no longer looks clean and inviting. I felt sad.
I myself cut spending nearly half. No more travelling and eating out. This to protest the unfair distorted housing market.
Great guest!
Adam is great, cool that he's close by enough to collaborate
Such an excellent Guest. Thank you for bringing him on today. This guy seems to know what he’s talking about. Thank you Michael for sharing this. Blessings, Carlos ✝️🙏❤️😊🇺🇸
Yea I have been saying these things for a while now but I cant do it the way this guy does. he is very well spoken to normal people.
One of the KEY things he said is Usually when there is a bottom in the market everyone says. I WILL NEVER BUY REAL ESTATE AGAIN. this never happened from 2008 market. I have been saying for years we never actually recovered from that market. We were still in stimulation mode with extra low interest rates. Now we have normal rates 7% is a average rate in the last 40 years. Our economy cant even stand up on normal rates. We are heading for trouble. This will be really big. may even be bigger than 2008. Even B of A is closing locations and I have inside info things are really not great with the largest banks. SAVE YOUR MONEY. Rent dont buy and you will thank me in 5 years.
You guys knocked it out of the park! I live in the Northeast and prices are still absolutely ridiculous! I say to myself, "Who is buying these million dollar homes (tons of them by the way) in a normal neighborhood?!" Notice I said normal average neighborhood.. Affluent people are not going to buy a house in a normal average neighborhood. So that makes me think about how much debt people are accumulating right now.. that is terrifying to me..😰
I live in Florida! I think the exact same thing…. how can there be this many people who can afford all these million(s) dollar homes.
Hmmm
The financial situation is VERY scary, very vulnerable, very threatening. Add to that the attempted (successful?) coups in the U.S and the West (illegal immigration invasion is one example), and we live in a dangerous world.
Gearing up for the next election. The immigration is replacement theory
I don't understand why none the financial/real estate channels are addressing the elephant in the room. The massive coordinated invasion of millions of illegal aliens.
Michael, you are amazing man! When I first found your channel I never knew how much knowledge you would give me. I appreciate all your time and energy you spend on getting your message out 🙂
I hope you'll remember us after your channel blows up. It's coming soon! Thank you also for your guests that appear on some videos with you. They are on par with you and so smart too!
Last but not least, thank you for letting us meet Lisi. 🤗🧡💛💚 She is adorable🙂
Agree!
What a nice comment!😍☺️
Thank you for always supporting his channel!🙏🤍😘
not here yet….. election season
I know, I just found Michael a few months ago. He's really telling people the truth, and that takes an intrinsically good person!
@@Lisithedogwalker supporting and watching since 60k. I live in CA. but used to travel back and forth to FL. I know both markets. Since the pandemic my companies i do work for canceled most of the work that would tie me with both states. Pretty sad and miss going to FL. Plus my business is down 90% just like 2007.
My 2 favorite financial channels 🎉😊
Oh my ! Adam Taggart ! Really cool.
I also follow Raul Pal and George Gamon.
Recession already here! Need someone to make announcements 🤣😂😆. It’s like bleeding 🩸 from losing an arm or leg and needing someone to say must go to hospital.
Wow, Adam Taggart. Nice catch there.
Hey Adam, wow cool 😎
So nice to see you!!!!
There are 1980s homes in Colorado Springs on postage stamp lots, many of which have not been updated since the 80s listing for nearly half a million. I saw one the other day, 1534 sq ft. listed for nearly $500k. That is ridiculous.
Excellent. Michael and Wealthion. Thanks. toronto canada.
Where are you guys walking at? It’s a beautiful backdrop. Great video and Adam is a gem on RUclips. Thanks for having him on
Michael mentioned it right in the beginning of the video 👍
I've noticed a lot of homes not making it into inventory since 09. I was surprised at the amount of homes just sitting vacant on my street.
Where do you live ? Detroit?
Yes. I was thinking the same thing, where do you live?
@10317 It's a troll account. They post gaslighting comments like that on channels like these and when you call them out they never respond.
@@10317 East Dallas in the Casa View Neighborhood, pretty close to White Rock Lake.
Surprised to see Adam here. Nice to see two ppl I listen to talk to each other
Ahhh- so glad you invited Adam! ❤️❤️❤️
Wonderful guest Michael, I am subscribed to his channel as well and have gained tons of info from him and his guests, also thank you for all you do, great work 🙏
Where do you store the tons of info? 😂
Listen to u both
Awesome collaboration!
I’ve prepared last 30 years now I just live my life and limit the negative channels even though I agree with the eventuality of all this happening.
Wonderful seeing both of you, on a nice outdoor stroll, shades 😎 and more education!
Love Adam and team on Wealthion!!!
Nice seeing Adam being interviewed and you did a great job Michael. It’s funny finally seeing collaborations from my three favorite channels (Reventure).
Wealthion! Enjoy his channel. Lots of good solid level headed conversations
Fear not. I bought in 2021 when everyone was saying "houses are overpriced". Glad I didn't listen to ney sayers. Buy if you can buy or you'll own nothing and be happy
two superstars! i'm subscribed to both of you this is so cool.
Glad to see you are leading people toward smart and better life. Way to go brother 🎉💪🏼
Adam probably has one of the best overviews of what might happen in the coming months due to his hands- on knowledge of the current situation. Michael, you must get more such people from different genres on your channel more frequently. 🙏
Everyone should listen to this. Reassuring to hear that Adam and his wife are going through the same calculus as my wife and I right now. It’s not easy! But more clarity is right around the corner. Thanks guys.
Excellent video
The first obvious clue to how people are being affected here in California is to look at homes with dead lawns and or no furniture visible. I live in the Sacramento area and 10 to 15% of the homes in my neighborhood have visible sins of distress.
Spec-homes?
@@genarolegorreta3418 I'm in Central Texas. Some of them are spec homes, some are custom builds. Just depends. However, the dead lawns and neglected landscaping is a dead giveaway for house poor folks.
Two things are happening they have been yelling DROUGHT for a long time and forced people to cut water usage, this led to less water usage which led to smaller water bills and the people who manage the water ( nothing but thieves ) increased the water rates so a twenty dollar a month bill while keeping a very nice lawn has now turned into a $100 dead garden less showers monthly bill
Adam is very good, i watch his show a lot, Stephanie pomboy is very good too
44:07 wholesalers are putting Realtors out of business. What they are buying and selling is not reported and much is going into the portfolios of investment LLCs renting single family homes. Further hurting first time buyers from building wealth from fixer upper homes.
Yes there are 5 neighborhoods being built around me ALL for rent only. 😢
Love Wealthion!!!
A walk with Adam Taggart…epic! Great interview man!
Awesome to see Adam on in this more casual format and get his opinions on the state of the economy and markets. Thank you, both!
I live in a nice neighborhood in SC. My new neighbors moved from CA.
Awesome episode. Love the Wealthion channel.
So cool to see Adam out the wild. Location looks beautiful!
All my worlds are melting together!
It’s not going to be “soft-landing”, but cat 5 perfect storm. I’m financially sound and have multiple sources of income, but boy global and US economy will shake like crazy. To put cherry on your recession icing, another major issue is so called “aging population”. This (in plain English) is very low birth rates below population reproduction numbers and baby-boomers either passing or reaching unproductive health condition due to age. Usually US and other developed nations attracted immigrants from undeveloped countries to address this problem. But guess what, with these price levels (let alone housing prices) there’s no way US can attract any skilled labour from abroad, especially given the fact that those developing countries have reached comparable level of standards of living. Also add to this geopolitical tensions with China (which is 1.4B people compared to 330M US) and you’ll clearly see how complicated economical situation is. Some states are trying to “open borders” to immigrants, but obviously this won’t fix anything because this is structural issue of economy - if locals can’t afford prices, why immigrants would? Nothing speaks of severity of upcoming economical crisis better than denial and negligence of authorities.
Well
Said
Debt service is a massive anchor on growth. When public debt instruments roll over to the higher rates, the discretionary federal budget is going to shrink to historically low levels Add that into private debt with huge balances and interest rates and the economy could literally fall down the stairs in the next 12-18 months.
...and no stimulus bailout this time!
@@DIVISIONINCISION Good. I'm sick and tired of my tax money being used to bailout rich bastards and businesses that deserve to fail in the first place.
It doesn't make sense that there's lots of inventory not being reported. Who's hiding the houses?
A ton of builders are doing it. I’m really not sure why but it’s the truth.
@@SirCarlosMusicBMI There's essentially no new houses in Los Angeles and many other cities because there are no empty lots.
@@chrislastnam6822
I do understand that But the USA 🇺🇸 is a very large Country. Check out Texas.
you both are such fine gentlemen! thank you so much for all you do!!
I really think we never recovered from 2008. because we never saw inflation rates from stimulated business. rates stayed low for way too long to keep things going. now we have normal rates and our economy cant even stand up on it. 7% house rates are normal average rates over the last 40 years. People are complaining they are high.
Wealthion is a channel that is a new favorite of mine! Great guest choice! ✨💯💯💯💯💯💯 Thanks much to both of you. ☺️✨✨✨✨
Perfect guest at a perfect time. I watch Wealthion every morning for the market insights.
We might need to get Scotty in the engine room to hold things together with duct tape!
Hanna, I know it's bad when we need to call on Scottie lol. I am an avid trekkie for life. I think Scottie is going to need more dilithium crystals too! We are all in for a hot mess smh
52:08 Shoutout to the BMW owner who was kind enough to fold in their mirrors while double parking. Welcome to California my friend.
I love listening to Adam’s channel! I listened to two of his podcasts at the gym today.
Dont forget leg day
Hey Michael good to see Adam from Wealthion on your show . Thanks
His statement - the house price to income ratio is 4% makes no sense. In big cities in California ,the house price divided by income is about 9.
Good evening Mike! Just wanted to thank you for your help and asking people to be wise with todays climate, think before you leap, every one please.
What a great video! Adam was a great guest! You two both have a great rhythm together!
❤🙏☺️
@@Lisithedogwalker You're amazing lizzy!
@@Thisismeofcourse❤❤❤❤❤
HI Adam good to see you with other GOOD people.
Great Video. I loved seeing someone interview the interviewer.
I love Adam Tagart and Wealthion. Fantastic show!
Move to nicaragua
There is no landing.
Talk about getting AAA+ guests Adam is one of the brightest people on RUclips
Very nice having Adam on :)
Strikes, accelerating oil prices, high inflation, China implosion...etc.
The economy is going to have the same kind of soft landing that the Death Star had.
Recent follower of Adam and really enjoy his content and guests. Thank you for all you guys do!
Best dad energy on finance RUclips but Rick Rule and Brent Johnson's channel give him good competition
I would be more open to renting in the future BUT I have 3 dogs and no one rents to pet owners. Too bad cuz my dogs are less destructive than humans!!