The FED Just ADMITTED THE ECONOMY IS COLLAPSING!
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- Опубликовано: 14 окт 2024
- The FED's most recent Beige Book for July 2024 just came out and what they describe is a slow economic collapse that is happening before our eyes. Almost all of the data points they point out in this report show that things are continuing to get worse in this economy and not better. I also have some personal anecdotes from subscribers to back this up.
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McDonald's is GETTING DESPERATE AND IT'S NOT WORKING! McDonald's is GETTING DESPERATE AND IT'S NOT WORKING!
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Joe just resigned as president.
This should be a new holiday.
Called Toldyaso Day
Even tho like u said Michael regardless McDonald's gets 30%..... it's not looking good
Fast food in our area, rural Illinois, it's not price of food, it's lack of employees !
We quit McDonald's, KFC, Pizza Hut, and corporate sit down family restaurants. Just munching on whatever outdated bullshit I can get at a food pantry.
@@dertythegrower doesn't change anything. Kamala still running us in the ground.
A failing U.S. economy and elevated global tensions reduce the likelihood of prolonged inflation or higher long-term Treasury yields. I've seen folks amass up to $1m amid crisis, and even pull it off easily in a favorable economy. Unequivocally, the bubble/collapse is getting somebody somewhere rich
I do not disagree, 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 I speak from experience.
True, I’m quite lucky exposed to personal finance at early age, started full time job 19, purchased first home 28, got laid-off work at 36 amid covid-outbreak, and at once consulted a well-qualified advisor to stay afloat. Thankfully, my portfolio has maintained steady growth ever since, amassing nearly $1m after subsequent investments to date.
this is great! think your advisor would get on the phone with an unknown? i'm in dire need of proper portfolio allocation
My CFA ’Melissa Terri Swayne’ , 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. could easily spot her website just after inputting her full name on my browser. she replied my inquiry and we scheduled a consulting session sometime tomorrow.
The best thing that should be on everyone's mind presently should be to invest in other streams of income that doesn't depend on the govt. Especially with the current economic crisis around the world. This is still a good time to invest in gold, silver, and digital currencies (BTC,ETH...)
My advice for who wants to grow financially this year, is "invest". Saving is good, but investing elevates your finances. Thanks to my financial advisor, my portfolio is thriving, and I'm proud of last year's decisions.
Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who do it alone. I've been fortunate to work with one for 13 years, resulting in a $2 million portfolio.
Your advisor must be really good. How can I get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
I'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with "Annette Christine Conte for years and highly recommend her. See if she meets your criteria.
thanks for sharing, I did a quick web search and was able to find her, I wrote her a mail and I hope she responds soon
Personally, I think investors will start to seek more market diversification. can i confidently invest about $350k into the financial markets in 2024? I'm still not sure how rates will effect the market just yet, which worries me a lot.
I think investors who are wary of changing market trends should seek out bear market directions from certified strategists/planners. Safer that way
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 100% rise from early last year. I and my CFP are working on a 7 figure ballpark goal, tho this could take till Q3 2024.
How do I reach out to a financial advisor, my portfolio has been struggling since 2022 and I’ve been holding on by the skin of my teeth.
Sonya Lee Mitchell maintains an online presence that can be easily found through a simple search of her name on the internet.
I just curiously searched her up, and I have sent her an email. I hope she gets back to me soon. Thank you
The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?
I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.
45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.
Who is this person guiding you and how can i reach he/she?
Sharon Ann Meny is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.
Things are strange right now. The US dollar is becoming less valuable because of inflation, and other powerful nations waking up to trade in their own currencies. Good thing is, a lot of people still turn to the Dollar because of the safety is somehow assures. I'm worried about my retirement savings of about $420,000 losing value because of these factors and more. Where else can we keep our money?
It's a delicate season now, so you can do little or nothing on your own. Hence I’ll suggest you get yourself a financial expert that can provide you with valuable financial information and assistance
Very true! I've been able to scale from $50K to $189k in this red season because my Financial Advisor figured out Defensive strategies which help portfolios be less vulnerable to market downturns
How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings
'Carol Vivian Constable is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
Our economy is like a flailing fish, fighting for its life. The normal state of the U.S. economy is actually very bad. Because of this it goes into convulsive spasms fighting to grow any way it can out of desperation. Tricks, gimmicks, rule changes try to stimulate the economy and prevent it from falling but they only bring temporary relief to people since, when you factor in inflation we are declining.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.
How can i get started when it comes to investing and passive income?
Just research the name Annette Christine Conte . You’d find necessary details to work with a correspondence to set up an appointment.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
Fed admits something ordinary people already know a long time ago
Nothing new 😂
The millions of federal employees all live in a bubble. This doesn't effect them so they don't care.
Most ordinary people didn't know this.
@@dissident112GL... The economy is strong, no cuts to the Interest rates.. I hope they actually increase it. So ppl really stop spending.. The current environment isn't difficult..
The Fed is always behind. They never look at the future. The unemployment reports, etc are from a previous month (or more).
40 pack of water went from $2.18 to $5.48 at walmart. Freon has doubled. Car insurance up 70%. Electric up 50%. You didn't have to be a genius to know printing trillions would be a problem. It will get much worse.
Agreed that inflation will get worse. What I can't understand is why the investors in US government bonds are only expecting 2.5% inflation over the next 10 years. I don't understand that when our government is running the printing press 24/7 how inflation is going to be much higher than that. I'm buying TIPS bonds.
Freon has been illegal for years.
At the same time fed says inflation Is 3% 😂
@@bjreacher6402 The new stuff is $40 a lb it cost thousands to fill up new AC's.
@brianglas7768 I hope you mean printing press as a matter of expression. I have never seen a $100 newer than 2017.
Instability is being caused by the economy's struggles with uncertainty, worldwide swings, and the fallout from the epidemic. To re-establish stability and spur growth, all sectors must give rising inflation, slow growth, and trade disruptions their immediate attention.
Things are strange right now. The US dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings of about $420,000 losing value because of high inflation. Where else can we keep our money?
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.
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 ’Melissa Jean Talingdan’ , 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.
I appreciate the guidance. Finding your coach was an easy task. I did a lot of research on her before hiring her. Based on her resume, she seems qualified.
$800 a month should be a house payment not a car payment
$800 for a house payment?! Are you crazy!? That's half my rent...
@@trevdevs That is the house payment for most people I know. They bought their house ten years ago or more.
This is my house payment thank god…
My mortage is $1527
@@barrywainwright3391 I rent a garage space for half of that 💀
My old landlord who was a millionaire and still is also a pilot sold off sold off all of his commercial real estate and residential 3 years ago and told me hard times are coming... Coach me into buying 20 acres and a building where I live now. Millionaire's knew this was coming
wow the insiders knew it!
Prices of residential shoot up 30-40% within 3 years. Your genius millionaire friend “gifted” millions of dollars of equity to someone else. Doesn’t seem like he has any clue what’s going on…
He was smart! Good you listened. That’s why he has done so well in his life. He has a good understanding of when to buy and when to sell, etc. I’ve decided it’s not a common sense thing, that we are born with. I grew up in businesses my parents had and had my own. It’s all I know. I think it’s a learned behavior and you’re fortunate if you have someone to mentor you.
@@cumberlandquiltchic1 he was 81 yrs old when he told me this ..3 years ago
@@tobyk5149 Of course...corruption
As an RN x 30 years I can tell you Healthcare Insurance in America has been taken over by private equity and greedy C Suite executives for decades now. Because NO one has enforced the laws IE Anti Trust violations, it has made them greedier than ever. This past year I have seen a marked up tick in denying/delaying care in order for them to funnel more money into their pockets. It is beyond heartbreaking.
unmitigated greed!
I'm glad you voiced your opinion because I have noticed the medical industry has been TERRIBLE with how they delay testing/treatments for the past 5 years. I've been complaining about symptoms and, 5 weeks later, am just now scheduled for MRI/CT scans.....
Yes, us sick patients are very aware.
U R lying because u hate Obama + Obama care. LOL
@@tobyk5149MI
As a truck driver, it is pretty apparent. In 2020 we had a shortage of a half a million truck drivers. Fast forward to today, where there's a hundred thousand truck drivers who are unemployed because there's not enough freight to move.
Is it because of reduced demand, or more people becoming truck drivers?
My neighbor is a local day freight driver. Where he works everybody is on a four day work week. The company is trying their best to get everybody some hours. There are no part time bills. This is in Denver.
@s99614 both actually.
I lived in Denver in 1981 only for a year,I moved back there in 1995 left in 2001 visited 6 years ago,I can't believe what happened to Denver and the Springs, that was my favorite place in the country,not so much anymore.@@silkscreenart5515
@@s99614Lack of demand. We still have a shortage of drivers.
I was struggling to sell my car and couldn't find a buyer, then someone rammed into the car and totalled it and insurance paid me more than I listed it for. 🤣🤣
You lucky dog… 😭😂
Literally just happened to me. Was gonna trade my My 2013 Camaro and the trade in value was 8k. Ended up hitting a dear and totaling it. Ended up getting 12k.
How convenient
And you weren’t hurt? Look at god 😊
The car was parked. Lol@@lankyprepper8139
General rule: never raise prices by more than 10% at a time, because it creates a psychological block.
Going from 10.00 to 11.00, acceptable. Going from 10.00 to 10.70, people usually won't notice. Going from 10.00 to 14.00, people will look for an alternative.
What if the price is $8? Would 10 increase is acceptable? I think that’s what every retails business are doing. They don’t wait for early next but increase prices here and there.
Corporations: Raise prices by over 300%
B-but then you wouldn't be able to show a significant year over year increase in profits to shareholders! 😢
If they're admitting it now, they're at least 2 years behind.
i think so
lol just keep accepting longer time scales to rationalize your belief
That’s because the wealthy have now positioned themselves for what’s coming. It’s OK to let the little people know now.
The sandwich going from $5 to $7 is not a 20% increase, it is a 40% increase!
I can afford those sandwiches everyday, however, I'm not going to purchase them. 😁
@@Craig121000 "can afford" means different things to everyone. to some "affording" means spending every dollar in their account but not owing $, but also having no net worth or savings.
Let's call it 100%+ because we all know things just keep going up over time when they want to screw us over.
LOL. I know. I was like, WTF, lol
small drink 0.99$ medium drink 1.25$ large drink 1.50$ ...... RIP USA eternally grateful
A Big Mac and 2 fish sandwiches. $21. No fries, no drink.
No more McDonalds.
🍔 + 🥪🥪 = $21
5 dollar meal deal
Honestly , I don’t really eat McDonald’s anymore . But if you do research on McDonald’s it’s more of a real estate business than food 🤷🏻♀️
@@shanepaige6715
McDonald's = 🏠
You could simply buy cheap meat and bread for $11 and get more sandwiches
FYI that grilled cheese sandwich $5-7 is not a 20 percent increase. It’s 40percent
I know this is irrelevant.But who the hell buys a grilled cheese sandwich😂😂
Be careful out there. My co-worker just found out she was getting gouged at her dentist. They take all kinds of extra pictures and xrays and just bleed her insurance dry until she has to pay out of pocket for other minor procedures. Games are being played during desperate times.
Another good reason do not get yourself injured at home, or at work. The hospitals, and clinics are there waiting for customers, and slowly bleed their insurance.
I been seeing the same thing, go to your dr apt and they will send you to five specialist when you didn’t need anything but antibiotics
Yep.
A dentist 🦷 tried to get me on a payment treadmill as well..
I bolted.
That's nothing new. The dental industry has been screwed up for a loooong time. Hey, just like everything else.
Anyone find it disturbing...that we Never see any Children playing outside...no Matter where these vids are made?
Kids are too expensive. 😂
those days are gone
they are inside playing video games or watching Disney shows
@@rafaelmercer21FACTS!
@@carl16760yup long gone
Not making up to a million before retirement is unfulfilled retirement.!! I’m 54 and my wife 50 we are both retired with over $7 million in net worth and no debts. Currently living smart and frugal with our money. No longer putting blames on FED for our misfortunes. Saving and investing lifestyle in the stock and forex market made it possible for us this early, even till now we earn weekly.
Investment should on every wise individuals bucket list. You will be ecstatic of the decision you made today.
I really need a nice investment to venture into I'm thinking of Crypto assets, stock or Real estate
all you mention are all good but I’ll advise you venture into fx first because it will help you grow your portfolio very fast and it require not so much to start
Will it require up to $500k - $100k for startup ?
Going into crypto doesn't mean you buy that much. You can start with little, invest it and watch it grow to generate profits that's how I have grown my net worth.
I'm 73 and scared to go to the grocery store! I have to pass by my favorite foods I bought before 😥😥😥😥😥🇺🇲🇺🇲🇺🇲🇺🇲
So sad to see this. Our government is criminally responsible for allowing this to happen. Hoping it can change. Soon. All the best.
Sounds like you need to buy a Levi's trucker jacket with the huge inside pockets...😉
I'm 42, and inflation hasn't impacted me.
@@Mikegastaldolol funny but not funny
@@Craig121000just keep your head in the sand and you will be fine.
Congress gave themselves a 23 percent raise. That's the inflation number.
Agree
No it would be slightly lower. Factor in greed.
The number one rule in my home is we don’t throw away food. We eat what we have, take out is an occasional treat. We make 30 minute meals at home with fresh ingredients, eat turkey and pork instead of chicken and red meat. Inflation hits hardest when you fail to change your habits. Too many people don’t know how to cook. That’s your inflation right there.
If you really want to save money on food stop buying meat.
Help your health, the environment, and stop contributing to the cruelty of factory farms.
Go plant based!
@@bambismomkelly7423I rather go without . Don’t eat much meat but plant food no way . Plus it’s crazy expensive . Looked a tub of plant foot butter 500mg close to $10.00 bucks
@@bambismomkelly7423 You're right about that!
Get that crock pot out.
I love my garden. Fresh produce just steps out the backdoor fresh.
And nothing beats vine ripened tomatoes.
My electric bill has doubled,but inflation is going down,ya right...
If your electric company has it, get balanced/average billing.
My bill went down $10 a month. Broward County.
Our entire economy for the last 40 years has been primarily based on printing money and getting foreign countries to buy it. We basically exported inflation. Those countries have pretty much said no more. We are now screwed because not 1 single politician in over 25 years has attempted to fix it.
Imagine if the USA built a bunch of coal power plants, and began construction of more nuclear plants..electricity would be dirt cheap again! Instead you have these giant windmills that fall apart, and solar panels that can barely power one small town let alone a city. Bad energy policy thanks to the greenies.
Inflation is going down does not mean prices stopped rising. It does not mean prices are or will go down. You will pay more as time passes. Deflation would mean lower prices but that is not happening.
My business has dropped off bad this year people don’t have any money.
Hang in there, Bro.
Money is OVER!
Mine too. I was telling an employer last week that I’m working double the time of last year and the same $.
what industry are you in
@@VicDamoneJr82 I do Pdr
Thank you to our host for this Sunday walk-around outdoor presentation. Today is Sunday, bonus for viewers
lol me and my friends all call him "walk n talk guy"
People are going through 5 job interviews for the same job for 4 months and still do not get the job. Onboarding to a new job is 3 months plus
Unless you are a POC.
Yep, I just graduated college with a bachelors in Construction Management. Have applied to over 30 places (with a pretty loaded resume) and landed 1 interview.
Glad to see the Feds finally catch up with the rest of us...they are such clowns 😒
They aren't clowns, they were waiting to see how much people were willing to spend and soothing shareholders
Who in their right mind would pay even $5 for a grilled cheese sandwich? A grilled cheese sandwich, really? You cant make one at home for yourself? We are doomed.
especially if there is no meat in it. just bread, butter, cheese???
🧀🧀
But then you have to wash the knife and pan. It's bad enough i would have to throw the plastic from the cheese into the garbage.
Makes my kitchen hot plus I don’t do dishes.
Sometimes you need food- unprepared bringing food from home for the day…
Property manager for YMCA here. Our branches here in Jacksonville area are all on a HARD spending freeze. And have been for months now. Emergency spending only. Layoffs will come soon.
i Live in Tampa, I got a Quarter pounder today, a- la carte, it was 7.00 $, I thought wow didn't seem like that long ago it was like,2 or 2.50. start cooking my own, I don't have to be a gormet chef to flip a burger. pay 7.00 for a lb. of hamburger meat and get 3 or 4 meals ,instead of uno
🍔
@@dissident112 even cheaper deals can be had if you have a chest freezer and vacuum sealer...you can do some serious bulk purchasing! Me I'm usually OK Just buying the 5 pound chub and getting it for around $3.50/pound.
@@Ziegfried82 All good, as long as you have power to run it.
11:23 this happened in 2008 at my job at Fleetwood travel trailers. They started slowing down, then laid of for a week here and a week there, then they shut down half their plants in the U.S. Mine was one that shut down. They told us leading up to this that things are fine, the rumors of shutting down are not true. Then a week later they had another meeting and handed everyone their final checks. BLINDSIDED!
Nobody's paying their rent in my apartment complex. Everyone is on food stamps. The best job I could find this whole month was giving away gov free phone.
All that free money is highly inflationary
I like Michael's wit. Walking past $10m houses in Tiburon, CA talking about how lousy the economy is doing. I'm sure the vast majority of people living in those houses are doing fine financially.
You'd be surprised, on paper they make a lot but very few people have the sense to live within their means, they just buy bigger houses in more expensive areas, more expensive cars with higher insurance rates, etc.
What's a hundred and fifty dollars at Olive Garden or five dollar per gallon gas to them when they stand in a river of money.
@@tobyk5149 I'm sure Michael is doing that to be ironic.
He probably then ate out in a nice restaurant or perhaps enjoyed some nice beers too. Yep, the people living in nice homes are living fat high on the hog, but they'll be safe for only so long as the great hunger cements into an increasingly angry populace just getting screwed over. I guess many think they'll run off on jets in the end, but they're not going to remain exempt.
Rich people cry poverty more than people in real poverty. They need a tax cut or they can't remodel their home for the 5th time since covid.
As a broker in Florida 30 years I see all you say is true. Retirees leave Florida..cant afford rent…can’t buy groceries or meds.
Big pharmaceuticals rule America. Do a video on that and the influence of tv ads on the uneducated. Sad state. Save yer money!!!
Money isn't as safe as you might think. It's key to the fraud, actually. More accurately called fake money or slave paper.
You need to include the influence of social media on the uneducated (and even some educated.)
Wait until all of us snowbirds from Canada STOP going to Florida.
My sister told me she used to go to a place in San Diego to get a bowl of pozole for $12. This was already expensive but they still went. Then they recently raised the price to $17!! She won’t go ever again.
holy pozole inflation Batman!
I make a big pot for 25.00.
I guess you can call that, wait for it...
a POZOLE SCHEME...
😂😮❤😂🎉
@@Countdemonet1234 🤣
what the heck is pozole
The wisest thing that should be on everyone's mind currently should be to invest in different streams of income that doesn't depend on the govt. Especially with the current economic crisis around the world. This is still a good time to invest in gold, silver, and digital currencies (BTC,ETH...)
One lesson I've learnt from millionaires is to always put your money to work no matter how small. Don't get discouraged just because you can "only" invest like $100 per month. It can compound tremendous wealth over the course of decades. The important thing is that you keep going!
My advice for who wants to grow financially this year, is "invest". Saving is good, but investing elevates your finances. Thanks to my financial advisor, my portfolio is thriving, and I'm proud of last year's decisions.
Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who do it alone. I've been fortunate to work with one for 13 years, resulting in a $2 million portfolio.
Your advisor must be really good. How can I get in touch? My retirement portfolio's decline is a concern, and I could use some guidance.
@@FediganNanezI'm cautious about giving specific recommendations since everyone's situation varies, but I've worked with "Tara Elizabeth Stewart" for years and highly recommend her. See if she meets your criteria.
I dont care what the government tries to tell us. I can see with my own eyes, our economy is declining. Car and home insurance rates are going to push many out of home and auto ownership. It is time to downsize and manage your funds wisely. Tougher times are on the horizon.
People need to wake up and understand in which direction of the economy we are heading right now!
yes good advice but the sheeple hear what they want to hear and they disregard the rest
@tobyk5149 speak for yourself 😴 🖕
Here in LA I'm trying to sell some electronics and gym weights on Craigslist for a couple of months now with no luck! People are so broke here I don't think you could sell the cure for cancer in LA now days!
lol
If people in LA were broke Erewhon and the stores in the Grove would be out of business.
Used gym stuff is some of the hardest stuff to sell. It's why I set up my own gym at home and at my business...was way cheaper to buy used equipment than have a gym membership!! Bought a used Bowflex for $150. A full barbell weight set for about $50. Used treadmill? $50. Crazy how cheap you can get all that stuff but yeah I remember trying to sell an old exercise bike and just couldn't get rid of it. Ended up paying a business $10 to dispose of the thing lol.
Might as well keep them.
Well the cure for cancer is just fasting as it can’t survive w/o sugar. But it depends.
This economy is awful i went homeless over it and now im being harassed by police at 2:30 am because of the anti-homeless law . FML
I’m so sorry 😢 I’m being illegally evicted 😮 because my landlord wants to sell he lied to get me evicted 😢
Hey man thanks for taking the time to explain some of this.
I'm done telling people the truth but it's much much worse than anybody's ever suspected😢 enjoy today because tomorrow is ugly
Worst inflation in over 30 years.
1980. 44 years.
20 years ago I would walk into Panera's and order 2 sandwiches. I would hand the cashier $20, get a buck, and change back. Today I handed the cashier two $20s and got a few pennies in change back
holy inflation Batman!
Yup
Or you get, "Excuse me Sir... you forgot to pay!"
Panera is way overrated. Small portions for a ridiculous price
Bidenflation.
Spending remaining "flat" as corporations are raking in record profits. What's that tell you.
Socialism for corporations, rugged individualism for every one else! 😮
you are right!
"rugged individualism"? Not "rigged individualism for everyone else"?
Our leaders should not have let big business outsource mfg
They destroyed the middle class for profit!!😮😢😢
like YAH! been saying it for years. Now we have a Third superpower that wants to kick our butts because we enabled China to do so. Corporate leaders as evil as any politican sold out the American worker for subpar merchandise.
The biggest contribution to this mess is our government (Republican and Democrat) printing money for wars we had no business being in
Ross Perot was absolutely right on that.
@@eugenefirebird8938 the man was right about a lot of things. Bush had no business running for re-election that year yet everybody blamed Perot for Clinton winning. It's strange: how come many of us saw that there was no difference between Bush and Clinton yet so many Americans got fooled? Was it just partisanship? Ignorance? Media bias? Probably a combination. At the end of the day the USA is going down and out and I highly doubt anyone can turn the ship around, it's hit the damn iceburg.
Do you really want the USA Fed Govmnt to manage the supply chains for multinational corporations?
Stop buying and cook at home. Save your money.Take care of what you got. This is beautiful. Soon they will be giving away cars.
From your lips to god’s ear my friend.
😂😂😂never happen ..they will just hold them and sell the following year as new
@@richardball7251 lol
There’s about 1 million people that live out of their cars, I’m one of them, it’s impossible to cook in my truck😅
@@BreezybriefswithBrookebuy a hot plate, get seasonings and plug it up either in your car, in a building, or an outlet outside.
Fact: 46% of EV owners are dissatisfied with their purchase.
Cant say I'm surprised
I'm reading a book on the subject right now. Quantity of ores and salts needed for one 500 kg lithium battery? 400 tonnes!
America is truly messed up.
I mean, who didn't see this coming?
And so is the rest of the world. At least people can possibly build wealth here. Plenty of countries don't even allow people to make any money
4:42 $7 grilled
cheese sammich’ is how you will own nothing and be broke. I can get a pound of Tillamook White Cheddar from Costco for $7. I can buy a loaf of a regional brand of seedless rye for fitty cents at the local surplus bread store and make grilled cheese sammiches’ in massive quantities for $7 at home and not hassle with ghetto types in the parking lots or listen to other mofo’s chatter like a meth head on withdrawal, screaming kids and basically am avoiding those types that are obnoxiousaf…
@@Madchris8828 Many people can't build wealth here either.
I'm sick of being here. Just wanna disappear. Can't even find work right now.
I am 65yrs old and. In my lifetime there has never been anything like this. Cost of healthcare, insurance, interest rates and food cost far succeed anything I have ever seen. Although the stock market continues climbing and anyone in it is making lots of money. Whats that all about?
people are probably still buying all these expensive items so the stocks are doing good
The elites are spending like there is no tomorrow.
One could argue that health care, and other things, are increasingly expensive because of the creation, implementation, and in some cases, government requirement of insurance. When a service provider knows it's not charging you, but rather, a multi-billion dollar company with gov't backing, it's easy to launch those prices to the moon. And now, predictably, but also ironically, they don't want to pay each other.
Same in the for profit education system.
Guess I'm not aware of
'Govt required insurance.'
States require car insurance.
If you don't want Medicare,
you don't have to have it.
(If you have a mortgage, you
are required to have insurance
to protect the property, etc.)
The government doesn’t require u to have health insurance. Bob S.
I can see how these people are misinterpreting the comment. I'm referring to all forms of insurance and things that can be insured, govt required or not, in one quick statement. I inaccurately assumed people could discern that. However, I'll raise you one - you say they don't require health insurance, but due to the presence and prominence of insurance, how would 99% of people pay for healthcare without it? So, their actions have made it required, even if it's not legally bound.
Yes, I think that is true.
Insurance leverages the ability
to pay for 'costs' with lower
annual/monthly premiums.
With the ingrained ability to
pay for costs, they will tend
to rise--similar to financing
a house for example.
However, the alternative to
insurance or mortgages
is very unappealing.
Because while the costs would
come down (to a degree) so
would the number of doctors
entering the field.
(Fewer patients)
I moved half of my 401k into no risk interest accounts. Half remains in the stock market. Retirement starts in 2 years. Time to reduce the risk.
Same here
Might want to think about going 80 fixed / 20 equity at this point if you're only 2 years out.
I did the same. I'm running low on ten year clips.
30 day T-bill and chill time IMO
Raising some cash if you are that close to retirement is probably smart. That said, I had a friend do that 18 months ago and it cost him $350K in lost gains (that he would have made, had he not done that). Market timing is a bitch.
It's always darkest just before the total collapse.
😅🤣😂
So it is less dark after the total collapse?
@@brianglas7768 yes! Because you can only go up from the bottom!
@@brianglas7768 Yes, as it's heading towards a new dawn.
EDIT: It may stay really dark for what feels like forever... but dawn comes.
~Deep Thoughts~
It's always darkest, just before it's completely black...❤😅
Thanks for the information, Michael. However, many people are ignorant to reality and still are making big purchases like $50K trucks. I have seen many people on the road with overpriced cars. I know that the payments plus insurance must be at least $800, per month. I have seen people in my suburb in Boise Idaho, with expensive toys in their yards. Some have a boat, jet skies, and some weird sport truck for driving in the mountains. I said to my friend that those toys will be up for sale soon. If they could actually afford them, they would not be living in the suburbs. So, now those toys have for sale signs on them.
I did buy a used Honda CRV last week. I did finance part of it after putting a big down payment. The reason they wanted $2,000 more if I paid cash. I plan on making two payments and then paying out the loan. The interest was 9.80% that's insane the last time I bought a vehicle over 11 years ago it was less than 1% I have no idea how people are affording to buy things on credit.
Bought my first car in 1998 at 0.9% and zero down. Thought about paying it off early, but then I realized that no bank was going to give me interest that far under prime. Sure helped me get started in a new state.
In Wisconsin there are many companies laying off employees. Quite a few just recently, unfortunately. I expect more to come.
Wisconsin is a beautiful state with good people, but it’s an “Administrative State” where government workers always get raises and property tax always increase, and few Wisconsinites complain about that. They have chances to vote for fiscal conservatives but they don’t.
Wisconsin still way better than the neighbor Illinois
Amazing citizens keep voting Democratic, makes me wonder what it’ll take to make a change occur.
California keeps saying they are the best economy in the United States. We have 17 million people on medicaid, and food stamps, i guess that's the new metrics for prosperity. Greetings from Southern California
Commiefornia comrades
California is gone.
Ahh the socialism playbook
Hair gel killed that economy with covid BS
I understand hating on California but why just make shit up?
Is it some kind of emotional need?
We pretty much know our economy is in the shitter.. now we're just waiting for our government to totally fail. And close their doors.. and relieve all the people from those worthless government jobs... And then the soup lines
the modern version of soup lines are EBT cards
I say less economy and more greedy price gouging corporations
We can only hope
And then look at other countries and realize it's way worse elsewhere, and it's hardly Shangri-La here in the states...
Once you are on Medicare, you are never sure about anything! They change yearly. I have Medicare advantage, no other way as I am disabled and on SSDI. Now I am full retirement age, but stuck with a advantage plan because of preexisting conditions. It is going to get worse. Grateful to have any insurance at all. A lot if companies are not paying there bills. 😢
What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.
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 specialist
I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders
Mind if I ask you to recommend this particular coach you using their service? Seems you've figured it all out.
My CFA ’ANGELA LYNN SCHILLING’ , 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.
I appreciate it. After searching her name online and reviewing her credentials, I'm quite impressed. I've contacted her as I could use all the help I can get. A call has been scheduled.
Michael....what percentage of these ppl that can afford these houses come from old money. If you don't have help from parents or an inheritance....the numbers don't work to own even a middle class house.
Yep
Greed! Greed! Greed!
Corruption! Corruption! Corruption!
Looks like they're shutting everything down to the essentials, and we'll own nothing and be happy.😮
Cuban style
And yet consumer spending keeps going up every single month!! How is this possible? Where is everyone getting more and more money to spend every single month? 1.5 million fewer full-time jobs in the economy according to the FED household survey, unemployment rate going up, and yet consumer spending keeps going up!!
Afternoon. $5 to $7 is a 40% increase on that grilled cheese sandwich. So crazy. Great info. Know when talking out brain says one thing and mouth says another. First boo boo i seen you make still A++
Since inflation spiked, I've given up my gym membership, most coffee ship visits, halved the amount of eating out and home deliveries, halved the number of holidays and kept ant new clothes and toys to the bare minimum. I'm probably spending less now than I was before the price hikes. Surely I can't be the only one doing this? How are all the cafes, restaurants, gyms, travel companies etc staying in business?
One is definitely government subsidies and bailots, two is people are just taking more and more debt and pay the minimum amount possible back you'd be surprised how many large family units utilize their children to take out more lines of credit to not have to change their lifestyles
Mike, keep up the good work. You give good info and good reports.
Thanks, will do!
@@MichaelBordenaromaybe you should touch on the fact that this is a world catastrophe not just United States🤔
FYI: Stelantis is Chrysler. I used to work at an auto parts manufacturing plant and Stelantis cut LOTS of corners to keep prices down!
I think we the people need to approve or disapprove big wasteful spending of our government (our tax dollars). We need to take back our country.
By any means necessary.
That would include getting rid of social security, food stamps, Medicaid and welfare for single moms. No one is gonna vote for that
How?
@@goombah226 Are you really ready for uprisings?
@@ToxicityAssured Nope. That was just something Malcolm X said. Sounds radical though.
Local UPS warehouses in Portland, Oregon cut everyone down to 5 hrs…. There are way less packages to send back and forth!
*I wasn't financial free until my 40’s and I’m still in my 40’s, bought my third house already, earn on a monthly through passive income, and got 4 out of 5 goals, just hope it encourages someone's that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age INVEST and change your future! Investing in the financial market is a grand choice I made.*
The wisest thing that should be on everyone mind currently should be to invest in different streams of income that doesn't depend on government paycheck, especially with the current economic crisis around the world. This is still a time to invest in Stocks, Forex and Digital currencies.
Haven't you heard about MICHAEL T ABAGNALE?
Profitable trading requires experience, a solid strategy, and preparation, which we lack. Understanding buy/sell ratios, identifying market leaders, and diversifying are key to reducing risk. And this what he provides
“When the people realize they can vote for money and the government realizes it can raid the coffers, that will herald the end of the republic.”
Empires don’t fall from without. They always invariably fall from within. This has been a long time coming and it’s been in the making for 111 years. America never stood a chance against all the enemies it allowed into the country and the enemies created within its borders.
Its because it fell for the same trap Rome did. Irrational egalitarianism doesnt work. Globalism killed the Romans. Just as it is doing to the west.
Can't wait to see what else you have up your sleeve!
Nothing as he never wears sleeves. 😂😂
😂
I gauge the problems by the zero dollars in my account! 🤣🤣🤣
💰💰
I've quit buying Loma Linda vegetarian foods. I have my pantry, but when it's gone it's gone. $23 for a can of FriChik is ridiculously unaffordable.
The news is always a month or more lagging from what's happening in the now. This is why you must pay attention to what is going on in the world or at least around you at the bare minimum so not to get caught with your britches down. You can not take what government says at face value. There is always a flip side...
Except it wasn't a month behind....till just now they've been gaslighting everyone saying everything is FANTASTIC, best economy EVAH!
Read Forbes headlines? Immigration is great for the job market? Strongest economy in decades? Lol......
Once boomers pass, so will c0rp media
I am a Marine surveyor and Boats are still selling, however they are all the high end boats and small boats. Either 1.0 Mil or around 250k and lower
$250k budget is actually still a pretty good sized ship from my experience, that's a good sized cruiser! 30 foot or so brand new! I'm not in the ship biz so maybe anything smaller than 40 foot is small in your line of work? I'm not surprised if its mostly high end boats selling, the top 1% are never struggling.
A boat is a hole in the water that you pour money into. Like a car or a home, expect to pay more on maintenance, taxes, and fuel than you did on the property.
People are very wasteful when it come to things like: soap, toilet tissue, paper towels, detergent, dish liquid, etc! and these are the basic essentials people need to be conservative about! Buy very little, use sparingly and say "NO" to excessive spending. Look for ways to not spend money.
I rip my kitchen paper towels in half every time I rip a sheet from a roll. There is no need to use a full sheet just to wipe my mouth.
Helpful tips
Use coupons
Use cash back credit cards (for points)
If you buy food out make it last for more than one meal (time is money)
Or cook from home
Buy from a set grocery list
If you do not need to leave the house, don't
The last one is huge.
We have a saying in our home, stay home, spend nothing. Fortunately we don’t need things. We eat meals prepared at home. Eating out is ridiculously expensive and the quality is ridiculously mediocre.
The coupon game is so different now.tje doubling days are over. I hardly get coupons anymore.
This why I say no matter who’s president nothing will change
Finally someone gets it.
Im 47. I grew up poor and still am. I've done with minimum all my life. Collapse won't affect me too much.
It's bad. Not everyone has figured it out yet.
Over 5 million people are actively seeking jobs according to the bureau of labor statistics. Where are the jobs for these people.
Just threw 2 angus 5 oz burgers in my air fryer that cost $3 a piece. They will be done and delicious in 12 min from being frozen. People need to learn how to cook. It’s not rocket science 😊
Three dollars worth of italian sausage with tomatoes stuffed into a zucchini boat that were free from the garden will feed 2-3 people. People also need to learn how to garden.
No, you can't do that!! Then you'll realize real quality food looks like VS the 💩tty a55 fast "food"!!!
It’s not lack of skill it’s Lack of TIME. That’s why folks eat out for convenience.
Tell that to all the homeless.
We are in a silent depression i have alot of friends who cannot afford alot of stuff abd they need help bad
Food for thought- Anyone can simply talk about problems for hours together and with a smirk on their faces . But truth is they don’t provide any solutions
My family has no hope left. My family is falling apart. Not enough to pay bills, make too much for any help. I've given up all hope. Selling grandmother's ring worth two hu dred dollars to pay air conditioner repair bill. Life sucks. Don't care if I live or die anymore.
Hang in there, Kathi. The fact you have family means you can all pitch in for the common good, and can emotionally support each other. Prayers coming your way.
Get life insurance for your family.
Huh?
That's a new twist. "not enough to pay bills, make too much for any help".
Sounds like you need to spend more money and declare bankruptcy.....You know, like DJT....
😮😮😮😮😮
Please stay encouraged we can't give up! My apartment complex of 25 years just gave us 75 days to move so they can renovate & raise prices. I have know clue what to do. But I put my trust in the Lord!!! He got us!!!
Ooooh boy when your at the point when you can't lie no.more you know things are bad and they dont know what to do uuuffff 😢
Finally 😢the fed is admitting the TRUTH 😮!
Its for the best for Harris. Vote for Harris
@@unaldurmaz250FKH
Ppfffftt, I fon't think no one waits for the Feds for answers. We already got it.
I received a similar notice from my dermatologist about a month ago stating that they could not come to an agreement with my healthcare ins company and therefore would not longer be accepting them. Well apparently someone changed their mind. Just last week I got another notice stating that they came to agreeable terms and they would once again accept the healthcare ins company. What a yo-yo situation!! Ins companies are only in it for themselves, they don't care how many people their stupid greediness affects.
I no longer purchase paper plates or bowls. I use paper towels only when needed. I now went from All free and clear to Purex. I also switched from name brands to generic on almost everything and no longer shop at Publix. Walmart and Aldi only. We have definitely cut back. While I have the money, it’s hard for me to spend it on these items. Seems like a waste to me.
It’s been the plan. What timing
Make your grilled cheese sandwich at home 🏠 better quality and less money
Boats are luxury it’s not entitled
that is not the point
Cheese a loaf of bread and some butter and you can make 10 sandwiches for the same price😊 great now I want grilled cheese😛
Michael you got killed in the comments with your “grilled cheese math.” Lol. Good video, buddy. 👍
It wasn't that long ago that Arien's, a company in Brillion, WI, terminated 100% of their second and third shift with literally zero warning beforehand. It devastated the community. Some families lost both sources of income. People are encouraged to go above and beyond for these companies in the hope that they'll be noticed and move up in position, but the reality is that these companies literally do not care about their employees. They will let you go as soon as it means better things for their bottom line. Everything comes back to money and profit. People's lives don't mean a thing.
Michael, you have a great channel. ---- However, I offer this correction: At 4:24, if a price increases from $5 to $7, that's a 40% increase. 2/5=0.4=40%