It's Over: DATA Proves Recession | Layoffs Will Skyrocket
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- Опубликовано: 9 июл 2024
- It's Over: DATA Proves Recession | Layoffs Will Skyrocket
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I'm a 27 year old high school teacher. Personally, I moved in with my mother in May in order to prepare for what's coming. My wife and I are paying much cheaper rent living with my mom and are able to save at least 1.5k dollars each month. We've been ready to buy a house for a while now, but I decided it's in our best interest to wait things out for a bit. With my wife and I living on teacher salaries, it's felt like we've been in a recession for a while now. I think I'm putting us in the best possible position to take advantage within the next couple of years.
You might have to wait out 2 to 3 years but that is perfect for you. Only thing is making sure your wife understands what is happening right now. My wife is a Director of Nursing Assistant for a mid size facility. Yesterday, she told me the company has sold off 5 facilities in Southern California this year alone because low patient census. These are intellectual disabilities facilities for old adults which run on government Medicare and Medicaid patients. She is getting worried. Thing is I talked to her about this but sometimes she plays it off as she is fake listening. She told me how did I know layoffs were coming. I showed her the FRED unemployment rate. I showed her some of Real Estate mindset’s videos from a year ago. She asked me if we have money saved up. I have money saved up into different savings account plus some investments I’m getting ready to pull out. She said she hasn’t saved anything and she is not ready. If she had listened to me she would have money saved up. It is critical to get your wife involved in these talks and watching these videos. Not to live in fear but to save money.
Well done sir well done
Great insights chon thank you so much
Very smart!
Your first mistake was being a teacher. You second mistake is watching these videos.....Travis is a used diaper like a broken clock that's right twice a day. Until you have 3M+REO bank owned and 30+banks failing THERE IS NO CRISIS
We have two economies. One for the 90 % of the people who are middle class and below and the other for the 10 % upper middle class and above. The media reports on the 10 % of the people economy. The 90 % are suffering from a serious recession for a while now.
Much of the upper 10% lives in high cost of living areas and aren’t going much better. It’s the top 2-3% that is benefiting. Modern day feudalism.
"The Federal Reserve System is not Federal; it has no reserves, and is not even a system at all. But rather an international criminal syndicate."- Eustace Mullins.
Amen to that!
“The Federal Reserve is Federal by definition, affiliated with the central government of the US. It has over 8,000 tons of gold in reserve.” -MitchellMTB.
PEOPLE WE HAVE BEEN IN A RECESSION FOR A WHILE NOW!!! Can’t you feel it?
Since 2007
October 2023.
With Most Regional Banks at the risk of failing it could be an indication of an economic Recession which could be devastating .I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises of plummeting stocks which were once revered and i don't know where to go here out of devastation.
I think the safest strategy is to diversify investments. Like spreading investments across different asset classes, like bonds, real estate, and international stocks, they can reduce the impact of a market meltdown
A lot of folks downplay the role of advlsors 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
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
My CFA Carol Vivian Constable, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
Thanks for this. I just googled her name and found her webpage. I'm really impressed with her credentials and I reached out to her since I need all the assistance I can get.
I'm now avoiding new purchases to avoid slipping into a bear trap. However, I'd like to know where the best investment opportunities are during a downturn. My goal is to retire comfortably on around $1.2 million.
Wishing you luck! The key to a happy retirement is to live the life you choose, if you have a certain amount in mind for your retirement, it is only appropriate to work with a knowledgeable advisor to make plans.
I concur that guidance should not be disregarded but rather followed. I remember a few summers ago, not long after my horrible divorce, I was in dire need of advise on investments to keep my head above water. Fortunately, I met someone with grit who greatly assisted me in growing my reserve, which despite inflation has increased from $360k to about seven figures now.
nice gains there! Please share your advisor's info with me. Due to my increased income from work, I'm thinking about investing in stocks and other assets that will enable me to gradually build wealth.
Leah Foster Alderman is the licensed expert I use. Just look up the name
You would discover the necessary information to deal with a correspondence to schedule an appointment.
Hardest working man in the biz, still posting through hurricanes, medical procedures. The drive and the hustle
I'm starting to crack brother. Not break but it hurts lol
@@dan-qe1tb kids these days with their youth tube and inter-gram. in my day, we had real trades like tunic tailor, railroad workers, etc
This guy is a sham! Real Estate is never going to crash! Ramsey > Cramer > ORAT > REM
We have been in a recession for years.
They are rationing food.
Numbers are manipulated.
We are going straight to a depression !!!
Had a trip planed this week to do some work for a parts stamping company in Chicago.. about a 50 year old company.. called me last minute, told me not to come, said it orders and production has come to a halt .. no $$ to pay me. Sad
I'm not religious or anything, but I like this quote from Matthew 7:6 in regards to people who don't want to listen when trying to help them.
“Do not give that which is holy to dogs, and do not throw your pearls before pigs, for they will trample them under their feet, and turn and tear you to pieces.
I gave up my home search today and signed another lease. I think it was the correct decision.
But not easy, well done. I hope you have peace with the decision, I know I did and I just signed a 1yr lease
We could have a mild recession. If we don’t experience unhinged unemployment and rates fall, we could be back to a crazy bidding war, no inspections, low inventory housing market. I wish you the best.
@@MavRick69with what? Price already landed on the moon. The math ain't mathing if the rate lower and the price higher, which is worse than the current stalemate. 🤯
@@hakomii if rates go down people will buy. People don’t think or make decisions with a calculator. They use emotions.
@@MavRick69how do emotions overcome inability to qualify for a mortgage?
The feces has hit the rotary isolator
😂
Recession comes with expansion if you are well prepared and equipped. I've seen folks on verified posts that turned millionaires amid economic downtrend, and even pull it off easily in a favorable economy, it all boils down to proper asset allocation.
yes there are strategies that could be put in place for solid gains regardless of economy situation, but such execution is usually carried out by an investment expert or advisor
A lot of folks downplay expertise assistance until being burnt by their own emotions, no offense. I remember 4 years ago, amid covid-outbreak, I needed a good boost to help stay afloat, hence researched for licensed advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m notwithstanding inflation.
@@Charlesman_T bravo! who is the professional guiding you please, if you dont mind me asking? real estate prices exploded, interest rates exploded, my wage the same, i’m screwed
Personally, I delegate my excesses to someone of great expertise ''Karen Lynne Chess'' preferably you can look her up online, her qualifications speak for itself.
glad to have stumbled upon this, curiously copied and pasted Karen Lynne Chess on the web, easily spotted her consulting page and was able to schedule a call session. Ive seen commentary about advisers but not this phenomenal
People may be "clueless" because they've been being told we're going to have a recession for nearly 2 years now, and yet....no recession.
UKG: 2,200 LAYOFFS IN JULY
ADP: 400 LAYOFFS IN JULY
Perhaps that was the diabolical plan. It’s the old story of the sky is falling.
@Oneforall86 well it's said to say but I actually hope you're right so maybe I can finally buy my family a home.
It's like anything else - slowly, then all at once. The time to have the map is before you get into the woods. And you can see the wood before enter in if you are watching.
These cycles play out over years, sometimes decades--which is fortunate because it gives you warning to start saving.
The first hints were showing when you had retail and fast food workers making six figures in real estate and recruiting--low-skill jobs that are sensitive to the business cycle.
The second set of signs came when we started to see inflation and asset bubbles, crazy spending, etc.
The third set of signs came when rates were raised, banks began failing, the mortgage market slowed, and the labor market began contracting (household survey and hiring rate).
The final sign will be when the yield curve begins to un-invert and the Fed lowers rates. This is when things tend to unravel.
This isn't something new, this cycle has played itself out over and over and over again over the last few hundred years...
Travis I went through this during the GFC time. As a registered nurse many of my peers did not lose their jobs, I did, and it took me 11 months to find another. For my RN peers that didn’t lose their jobs, life didn’t change. I think that’s what’s happening now, but I suspect the job losses this time we’ll be much greater over the next 1-2 years. Glad I went through that when I did so that I learned the hard way to get out of debt, live below my means and save money for a rainy day.
Some RNs lost their jobs but didn’t want to take those lower paying jobs. That’s why it was hard. Hospital pay is different than a SNF pay. However, baby boomers bailed out the Nursing field last recession because it delayed their retirement and some came back from retirement. No baby boomers to bail out the hospitals this time around. You want proof? Look at COVID. Hospitals were offering insane salaries (at least in California) for RNs. Why? Majority of baby boomers had retired and could come back even if they wanted to. Some did but not enough to change the workforce. What did you see? A bunch of young social media nurses making money of travel contract. Young nurses changing jobs to higher paying jobs. I think Nursing will be fine (but not bulletproof) because Boomers can’t bail out the Hospitals now. Boomers can’t do those 12 hr shifts like they use to.
The thing plaguing the Nursing field is their financial literacy. I know a lot of Nurses who have a lot of debt. My wife is an RN and I’m on my OB term right now. Majority of Nurses have a spending problem. At least here in California.
Sold our home several months ago and living in an adu on my in laws property rent free. Stashing cash with four kids and our down payment is making 5ish% in a high yield savings. The waiting part is tough but really hopeful this plays out to our benefit.
Politicians will 💯 percent Deny the recession.
You mean the Biden admin and his media. If Trump was in office we got doom and gloom when there wasnt any
Looky you Trav at 105k!!!! I started with you at 10k!!! 🎉🎉🎉🎉congrats!!!!!
My stockbroker recently was laid off from her job and she's having a very tough time finding a job. Also, several others I know have lost jobs😢
Sahm rule says that we are ALREADY in Recession.
Recessions come all the time. Always be ready, always save money, rind a recession proof job, live within your means, stay out of debt. Don’t fear the recession, invest hard when it hits.
Deleted zillow and car gurus. People still crazy expecting prices they want. I'm done and out
it's ABSOLUTELY BONKERS Travis!
You don’t see any Help Wanted signs anywhere anymore !!!
You are right…stay up on your soapbox !!!
idk I see them everywhere
Have you ever watched The Poseidon Adventure about an overturned ship?
Well, there is a part of the movie where a group of people think they are going towards the surface, but in reality, they're going towards the bottom of the ocean.
I know I'm dating myself, but that's what buying a house right now looks like🤷🏾♀️
That description is how life works if you don’t navigate prudently
@sosonyc Facts! Well said.
This economy has sucked for the past 3 years. Thanks Democrats.
Thank God our candidate is not a lying felon👍
FYI....the stock market is booming
FYI....the stock market is booming
The economy is NOT the same as the market. Forget who is in office just remember they haven't done anything to help the economy. Spending more and more on foreign wars and bills that haven't helped the 99%.
Also, the reality of it is that in 100 years our main source of power will still be fossil fuels. However, the current administration has done everything to drive those prices up.
I am part of the reason, I take the blame. I voted for this mess. I've now realized I do not have to like the person I vote for. I just want to smartest person available to have the job. So, i won't help re-elect Biden.
@@traveler65 The stock market is overinflated due to them printing money like a drunken sailor. Layoffs everywhere in tech and a lot of manufacturing jobs are laying off. The economy is trash 🗑️.
They don’t understand and media tells them different
Why are people clueless? Normalcy bias, plus no one understands the banking system (by design). I have my own normalcy bias to overcome... I've been frugal all my life, and now I have to convince myself to spend my life savings on preps, precious metals, buying stuff I don't need yet, trusting the alternative info. Everyone is in a tight spot really.
U.S. has a borrowing and debt problem that has destroyed itself before the whole 🌎. I'm concerned about more than a housing at this point.
Same here for sure.
People are clueless because they want to be. Their head is in the sand the minute there is any hint of poor economic outlook.
Exactly, ignorance is a choice.
It is so weird how I was thinking and hearing a lot of people saying we were in a recession 2 years ago and now it is getting even worse. Now I am seeing layoffs everywhere even at profitable places.
The even more remarkable thing is how so many people are allowing themselves to be absolutely blindsided.
I like the way you break the data down into laymen terms ❤
Your household needs 6 months of expenses in cash at all times as a cushion. Sadly, with today's spending, that amount is probably 40K. Good luck.
Love your channel! I’ll be following you through the shit storm!
We are still dead in the water. I'm thinking about going back today. Hard decision when we have the little ones.
*Amazing video, you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires*
Hello , I am very interested. As you know, there are tons of investments out there and without solid knowledge, I can't decide what is best. Can you explain further how you invest and earn?
Hello how do you make such monthly?? I'm a born Christian and sometimes I feel so down 🤦♀️of myself because of low finance but I still
believe in God
I'm favoured, $90K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Ms Louis Stella 😊🎉
Good day all👍🏻 from Australia 🇦🇺. I have read a lot of posts that people are very happy with the financial guidance she is giving them ! What way can I get to her exactly ?
She's always active on Whats~App... 🎉
Great video you did for people who do not understand what will happen in the future.
Real talk Bro "Thanks " 🎉
The recession will be blamed on Donald Trump…
Funny. That’s what I’ve thought. 2-3 years into his presidency we may see a correction and he’ll get blamed for it.
Why so sure he will be voted into office, if it's one thing I've learned over the last 12 years it's that they do exactly the opposite of what we are expecting.
EVERYTIME i want to spend money lately, I hear your voice in my head saying "increase your purchasing power!" don't worry about the haterz we all know you're right!! blessings to you and your family, hope you are safe and dry
Amen! I'll be honest though I've been taking some heavy hits over the last month. Which is okay, sometimes we need to lose a little purchasing power just never lose it all but being late on debt etc
Love the comedy sprinkled throughout. You make me laugh Travis! Keep up the great info!
Thanks for all the 📊 information
Excellent. Your best video Iv seen. Thanks for trying to help the younger generation who doesn't understand what happens when the fed raises rates. The older generations have seen this song and dance and know what's coming, if they got burned in the past like many of us did. Prepare for job losses everyone. I've read the Fed statements and they say openly that inflation is controlled by destroying jobs and stocks and real estate values. They won't lower rates until they accomplish one or two or three of these things. Usually all 3 happen.
🙌 It's always refreshing to see these types of comments. I'm trying my friend, and I will continue to try to stay ahead of all this
Housing market is completely dead.
It's all a fake pumped up BS bubble.
For the meantime, it’s booming. In the long term it might not be so hot.
@@choncha23 Houses sitting no viewings.
@@raymond_sycamore Regional. But yet again, my region is a hot spot and has a lot of dumb buyers.
But I have a buddy who recently bought a house in Clovis, California for 600k...he told me he's making 5k mortgage payment...OMG.
A good word about the economy and your experience thx.
It's pronounced like Sam with a long A. Saaaam.
Yeah, like the "a" in "Sam" is like "ahhhhh", like you just had a refreshing drink of cool water on a hot day, or that first sip of the first drink on vacation 😊, so like s•"ahh"•m 6:07
Correction: We been in a recession since last year, now it's becoming Depression 2.0
Unfortunately you are correct 😅
Exactly 💯. However the recession started in 2019.
The only thing receding is my hairline as I sit in cash watching stocks break records daily.
@@thequestingblade a rising stock market is not necessarily an indicator of a healthy economy.
@@equityjustice2695 naturally, but I'm not about to make rational and thoughtful statements on the internet.
Thanks for share
This is very unsettling but thanks for the tips
Your show has really come a long way congrats.Used diaper gotta love it
Thank you
Great stuff as always. One thing at 5:00: Sahm is pronounced "Som" and it hasnt technically triggered yet. Jobs data is definitely looking recessionary tho.
a few friends of mine have been talking more about the state of their jobs. one is car part delivery man. he has said that some shops that should have at least 4 to 5 employees are down to just one. asks why and all say no work coming in. another friend of mine says they laid off many who worked from home some in the office. they said they were "reconstructing the company" definitely things have slowed down. idk how we are sitting on 4.1% in unemployment. thankfully i still have a job. this is scary to think.
The best is yet to come!!! For us with a few shekles saved up! SCHD, COWZ, JEPQ are about to explode! Load up people! Stop buying stuff you don't need or can't afford!
EOD, live below your means, stay out of debt, and have an emergency fund. Recessions always happen, they key is not being a motivated/panic seller.
you're absolutely right. nevermind the haters, whatever criticisms i have of your videos, they are technical, not message based.
One of your best videos
I know a good person when I see them. Thats why I keep watching.
I am in a recession already
Amen brother 🎉
CRASH!!! WE ARE DUE!!! CRASH BABBY, CRASH!!!
It would be nice to see what percent of the govt job increase came from DEI. Lots of agencies created whole DEI departments.
For those who choose to stay blind, do not come crying later on when or if things go left for you.
Totally Bonkers Kid 😊 Thanks
I Al definitely tightening up my finances and saving as as I can for emergencies!
Very nice Lisa!
We have had the Consumer price index going up and up since the pandemic. Anytime you have in a country price inflation year over year, your currency devalues and your income also looses value. This is called a recesion but the US gov has faked the data so as to create an economic fantasy. I grew up in a developing country and lived the same economic. situation the US is in.
Sahm rule is pronounced like “sahhm”. I’ve also heard “soam”.
Absolutely true about 2022. We're just waiting for it to be convenient for them to admit how bad things are.
Trumps reelection will be the dumping ground for the admission and real data.
I have 500k in my account . What do i with it?
Any idea beside buying, Gold, Bitcoins Stocks.
Thanks!
Dani!!!!!!! You didn't have to do that. I know how tuff things are out there. Thank you so much for the support. Have you been taking the courses and learning lots?
@@realestatemindset I was just looking for the courses but I didn't see them. Let me look again, maybe was too focused on lisenting to the video haha
@@realestatemindset Found it and just signed up!
When you finish, tell me what you learned. There should be a ton of golden nuggets
@@realestatemindset I'm ten minutes in and realized I did everything wrong HHA Going to book some time with you for next week! I need advice homie!!
1:58 gotta love the cynical sheeple. I was that. WAS.
Love the channel brother
Super weird that I get recruiter messages daily for mid senior level positions..
Please do not give your critics any attention. I feel it only takes away your credibility.
All the banks should stop closing high price houses because this is insane
They have a safeguard that IMO has failed. The appraisal
Where have you been? We have been in a recession for over 2 years now.
They often pronounce Sahm, as "some"
13:38 This time, it's different, Travis! 😂
Recession is going to be absolutely Bonkers. Fed interest rate cuts will be far less potent than expected b/c of money market interest decrease and ZIRP policy (legacy loans) from less than 3 years ago.
I did the same, pulled out of the stock market and I don’t care about its current state either. I liquidated and moved abroad to a cheaper country.
I’m debt free, living below my means!
Deceived? The bulls have been crushing it. Properties and equity values have gone up tremendously the past few years.
Maybe the reason for the response is not cluelessness but disagreement. I hate seeing people scared out of the markets while the markets continue to go higher and be less affordable to people.
Protecting them from a correction may actually be hurting them. Just a thought.
On average, homes are up 6k in 2 years. Crushing it? Come on man, wake up. Just a thought.
@@realestatemindset you can claim that, but my properties have had extremely good equity growth over past 2 years.
That doesn’t include my equity position. I just think you’re overly bearish and I’m extremely happy I haven’t followed that advice
It's wages that are getting killed in this economy, not investments.
@@NothingisasitseemsPodcast Agree completely. I just think advising people not to buy homes or stocks because the economy is collapsing may not be great advice.
Travis constantly calls people who disagree with him morons or idiots. I’m pretty intelligent, and started as a professional currency trader on the floor of the CME. I have traded as my profession for over 30 years now. I find his channel a good channel but don’t really appreciate that if you disagree with his position you obviously know nothing from his standpoint. He’s been wrong a long time to call people stupid who see things differently.
@@InvestingWithAdamK Oh I see where you are coming from... I think its REALLY tough to know what's going to happen as the markets are insanely manipulated in today's world. If you go by the fundamentals I would think we would have a real estate correction or even crash, but who knows what happens in the real world. Thanks for the response/clarification.
Take a look at what you spend money on. Get rid of unnecessary expenses. Live below your means. Plant a garden.
I'm strengthening my emergency fund. I'm also buying what's on sale. Coke is cheaper at Ingles than great value diet Dr Thunder at Walmart. Hormel chili is $1.88 at Ingles. $2.64 at Walmart. I got 2 lbs of raw veggies for $2.99 at Ingles and a huge sirloin steak for $4.07. I'll be eating the leftovers for breakfast.
It's time to shop around. Walmart isn't always cheaper. Stock up with you find something on sale. I got boneless pork chops today for about $2 a pack and lettuce for $1.49.
Could you repeat what said at 7:00 to 8:00 minutes? I got distracted.
This country has been in a recession for over 500 days. It's called an inverted curve
Keep this in mind. Government jobs are what primarily finances private equity through pension funds. If government jobs are 25% of the economy then what does that tell you?
🎉🎉🎉 Always BONKERS 😜👍👍❗️Blessings,Carlos ✝️🙏❤️😊🇺🇸
I’m preparing by buying all the beef jerky.
Smart guy
Worst case legally dumping constitutional protection
The labor market is great in California if you live in section 8, then you get everything for free this state why worry about the data cause everything is free here you can drive a car now three months with no tags or insurance they cannot stop you and give you a ticket so you don’t have to worry if you live in California cause you get everything free in this state
HEY
The Sham rule? 😂😂😂😂😂 Sahm…. S-Ah-M or Som. I love you man but this is pretty funny
The scam rule 🤣😭
After 17 years the wine bar I Somm at closed🍷
I spend a lot of time here on this channel, I know how good so many of you are. And while I know we don't know each other, name and all- If you could send prayers for my husband I would be eternally grateful. It's his first hospital stay, and he is going through the whole fifty yards, nose tube and all!
I appreciate everything I've learned here on this channel, Thank you for everything you teach us❤ it's truly changed mine and my husband's trajectory in life.
I have eight friends that have been laid-off in the last three - five months. None of them have found a job. NONE! One has a PHD in chemistry and cannot find a job! This economy is changing and I believe we will be in a great recession if not a depression by Q2, 2025.
Psalm
Thinking back, in 1994 when I got out of college, I couch surfed for a year. When I got my first apartment with two other buddies, we ate ramen noodles and canned tune, and drank generic beer. We had no heat for two winter months. We were happy as clams being free and having opportunity. This generation is bitch made.
"SOM"
I think it’s pronounced “SOM”
Can they spend just a little by giving me some of that deficit spending?
I hope this year's "Word of the Year" will be "layoffs"
Bruh its been a year since the recession started
It’s a weak recession if unemployment is at 4.1. I think last year was the first sign of a slow down but the government has tried to put a bandaid on it with more government jobs.
@@choncha23 June 2023 unemployment rate was 3.6%. A 0.5% increase is nothing in a year. I agree its a weak resessiom but Travis makes it seem as an indicator to a larger problem.