New Data Suggests the Economy on the Brink Of Collapse
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- เผยแพร่เมื่อ 28 ก.ย. 2024
- Ken and Danille McElroy talk about the current state of the economy and why things feel so uneasy. They'll discuss employment and inflation and what it all means to you
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ABOUT KEN:
Ken is the author of the bestselling books The ABCs of Real Estate Investing, The Advanced Guide to Real Estate Investing, The ABCs of Property Management, and has an upcoming book: "ABCs of Buying Rental Property: How You Can Achieve Financial Freedom in Five Years." Ken is a Rich Dad Advisor.
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thank you
Great video Ken and Danille. George Gammon is probably the best macro economic forecaster out there. People have to be aware of this when voting!
This is going to be good for real estate investors like myself
Just a clarification to your point that AI would replace more white collar jobs. This is a false notion, simply because if AI can rationalize and it can actually start making logical decisions, then robots would be sufficiently advanced enough to take more repetitive jobs which is usually the case for blue color jobs. This notion that blue color jobs would be safe and that there would be less white color jobs is a false notion, if anything, the blue color jobs could all be automated.
That's at least my understanding of the situation, but please feel free to correct me
Recession! Crash! Inflation! It’s getting depressing. I have about $100k in emergency fund and I have been seeing good news about the stock market and would like to gain from that since I can’t let my savings be corroded by inflation. What stocks should I into as a newbie to safely grow my money.
It’s best if you buy growth/blue-chip/large caps stocks only. Also, as a newbie its advisable you work with an investment advisor to help set up a well-structured portfolio.
I was self managing but suffered heavy losses in 2022 and i knew i couldn't continue like that, so i consulted a fiduciary financial advisor. By restructuring and diversifying my $620k portfolio with dividend-paying stocks, ETFs, Mutual funds and REITs, I significantly boosted my portfolio, achieving an annualized gain of 30%.
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you
Credits goes to " Vivian Jean Wilhelm " one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
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.
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 hyper inflationary environment, individuals must continue to use their hyper-inflationary 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?
I usually go with registered representative; Zachery M Demers, He provides a more grounded approach, looking at factors like market demand, regulatory changes, and adoption trends. This approach enable to make informed decisions rather than solely relying on emotional market dynamics
he often interacts on Telegrams
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.
Impressive can you share more info?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Jessica Lee Horst” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
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.
My wife is already panicking, so many questions! will the rate cut lead to inflation? I'm very worried about my $1million stock portfolio losing value. What strategies should I be employing in my portfolio right now?
It’s precisely at times like these that investors need to be on guard against the next certainty. Hence, finding the appropriate asset allocation and collaborating with an advlsor if you are unable to manage these market conditions.
No doubt, having the right plan is invaluable, my portfolio is well-matched for every season of the market and recently hit 80% rise from early this year. I and my CFA are working on a 7 figure ballpark goal, tho this could take till Q2 2025.
Pls how can I reach this CFA, I need someone to help me manage my portfolio
Melissa Elise Robinson is the licensed advisor I use and im just putting this out here because you asked. You can Just search the name. You’d find necessary details to work with to set up an appointment.
Thank you for the lead. I searched her up, and I have sent her an email. I hope she gets back to me soon.
My company did a stealth layoffs of over 10,000 people. By requiring a return to office mandate anyone that disobeyed was terminated so they don't get unemployment benefits
@@piRatCaptain gross
If you don't show up for work, you get fired. I have no problem with this.
What company?
People moved to cheaper states/cities and kept their jobs under remote conditions… made perfect sense then.
@ricardocanizalez3179
Most of these jobs only have high pay because they are in areas with a high cost of living. Employers realize they are paying high wages to people that moved to low cost areas. The laid off employees will have to get new jobs that will require them to return to office or take a lower paying job in their new area.
I’m one of you guys big fans! I would love to hear the businesses that Danielle owns and how she went about starting multiple businesses for herself. Good job!
I have read hundreds of books and studied all the depressions and recessions. I also trade daily. There is a reason why I have been accumulating a massive short postition over the last year with no care that it kept going higher.
My work is in a bit of a slow period right now but they are very clearly stating we have lots of work in the pipeline. They know people are getting worried because we hear about other electricians, other mechanics, other designers looking for work.
There usually would be 10-20 applicants for any position at my husbands work (a utility co) and they had almost 100 this month for a supervisor position that was opened.
In the automotive industry and people are not looking to work. Every shop I go in the first thing they say is the lack of workers.
Same in construction. Things get slow but there are a ton of people that just simply dont want to do the jobs that are there to do.
Good point about mcdonald's corners, i now have new eyes! fron the uk always interested in your teams insight.thanks
Thanks Kenny , really appreciate the free info!
Hi guys
Could you discuss the involvement of Canadian investors compared to U.S. investments for remote, hands-off investors? What are the benefits and drawbacks of each, and which tends to provide better returns or cash flow?
Ken and Danille, I have a 12 units apartment in San Diego near college area. I recently have trash issues. Not everyone wants to take their trash cans out. Or some leaves large furniture pieces at the trash can area which is located behind the building. We offered our tenants $100 then increased to $200 per month to take all trash cans out once a week then bring them back, but no one wants the job, what do you suggest me to do? (Most of my tenants are not college kids. )
Love your show, you are transparent love that
This was a good one!
Nasdaq composite all time high. Dow all time high. S&P 500 all time high. ITB & XHB: two top home building ETF's are at an all time high. I guess it's what lens you are looking through.
Depreciation ค่าเสื่อมราคา ทำให้มั่งคั่งร่ำรวยยิ่งยิ่งขึ้น หนี้ทำให้รวย
How can I look for this type of data in this level of detail in Spain? Sometimes I get lost properly studying the economy on my country given that I want to do network marketing business
Daniele looks stunning today!
True unemployment is 25% and inflation is 10%.
No sh!t unemployment is going up.
Its not worth it especially to just get you by while you starve.
We've been gaslighted in the modern sense (TV, now SocMed) about the trickle-down economy since Reaganomics... I immigrated from a broken UK in 1977 to Calif. (now live in Fl.), I've watched as slowly (and now much faster), the US has become like the UK and Europe. I used to blame it on the 'European Disease' (entitlement, laziness ), but now realize we've all been programmed by the international elite/aristocracy since Bretton Woods. It has all been designed to return us to serfdom-AI is the elites' sudden, silver bullit to speed that up. Ok fellow time travellers, its time to slip into the steam of all the other lemmings... roll over the cliff... hope to see you on the other side... :(
How does a .25 cut help when you’re getting a 1,000,000 mortgage? That $100 per month difference in a monthly payment means absolutely nothing. I live in Miami. There is nothing decent in my area that is below $1,500,000, nothing. Unless you are looking in awful neighborhoods. Anything below $1 million is a chicken coop. So my mortgage would have to be a million dollars . 🙄😤 Insane. I can afford it but I don’t want to do it since prices might go down.
2008-2013 not a good time to be unemployed. Just saying. I graduated college in 2008, and it lingered for years. I also live in Cleveland - where unemployment was slightly higher than national average.
Unemployment really doesn't matter much until it shows up significantly in construction jobs.
That is already happening, along with skilled labor
The super fancy and rare jobs are the most likely to be fired, nobody knows what they are good for unless the economy is booming
Definitely not happening
Ken❤
Higher rates also won't help my high yield savings account 😭
Man economic is 100% a man made thing, with even more with a goverment entities pri ting money and setting interest rate.
Sad to go from helping people to just want to charge for information 💯✅️.
What are some actions I can take that will benefit my 401k if the market does crash
Like actually crash? Get into Cash, money markets and mutual funds heavy in gov bonds
It will never crash again. Will always be bailed out causing more inflation.
Cash is trash. Real estate.
@@b.654 True; but you better know what you are doing. Cash is a no brainer. and when I say cash i mean sell prior to a crash; not after. Btw,. i don't think there will be a crash
😂😂😂. Hilarious. Youll wish u had dry powder if markets take a dump. @@b.654
Don't forget the hundreds of thousands of graduates each semester from all these universities, colleges, trade schools, and technical schools.... Each year... lol😂 I don't think statistics is being thought about at all... 😅 and then the fake job listing..
Is it that they cant get jobs or that they dont want to work? 😂
There’s supposed to be a cut decision this week, right?
Yes on the 18th.
Every time since 1953 when the FED cuts the markets crash. I don't know what you are doing, but i sure do know what I am doing.
Horrible sound quality!!
TLT
LOL 😀
Hall Amy Robinson Betty Wilson Linda
Lower interest rates help soft money and leverage. Kick the can down the road til crisis and revert to sound money. Blockchain ledgers?
I will say it if you won't. It's going to cause a hyperinflationary depression. There I said it.
It’s clear these people are out of their domain and should not be giving investment advice outside of their expertise - real estate.
I think 98% of all financial adisors will no longer have a job in 5 years. Lots of folks listen to someone and think all of sudden that makes them an expert. Not the hundreds of books and study and trading markets. People are way out over their skis at an altitude that is so so high when they hit it gonna not be a splat, its gonna be a smear.
Are they married or Father and daughter?
Lolz
I hear that if you're a billionaire they let you marry your daughter.
No relationship
@@tintruck2885 it says Ken and Danille McElroy.
The Biden & Harris economy sucks.
Too late for most 🙄 🖕
The best case scenario right now is moderate recession with a good response ( Trump cutting taxes and regulation ). The worst case is a bad situation made into a disaster with poor leadership and terrible decisions from a untested President ( KH).
"untested" is too kind. She is a clown.
She has been tested and her crew failed for the last 4 years.
I love Ken McElroy... But I can't stand the non stop nasal quacking of the lady 🙄
Where do they learn to speak that way ?
Ken - you offer no evidence to support your view that inflation is higher than the reported number.
Clueless or a troll?
So are you saying you believed the unemployment numbers that they just revised 818k down? Which by the way will get revised one more time to more than a million down. Which means we can't trust GDP or CPI. The gig is up. You belive what you want, I know exactly what I am doing. It's gonna make me rich. I wish you the best of luck. Please be careful.
Fed’s gonna save the day on Wednesday ! 😅
Why is this show not called the "Ken and Dainelle Mcelroy Podcast'"? Nobody would watch this show if it weren't for Danielle as the main part of the show.
I've been trading Btcoin independently for the past six months but I keep losing when I trade even after applying numerous strategies, It’s a bad psychological position to be in. what trading plan do I need to have to make sure I never lose
I'm loving the bullish sentiment on the federal rate cut! With my $35k investment fund, I'm considering diving into the stock market, specifically targeting sectors that benefit from lower interest rates. Anyone have any hot stock picks to share?
This is the what people that handle their portfolio themselves go through. I will advice you get yourself some fiduciary advisor to help you redistribute assets in your portfolio to match every market season.
I've been through the 'bonds are beating stocks' periods since the 90s with no bonds and with all aggressive stock mutual funds.
At 66, my IRA and cash accounts are far more than I expected for my retirement. I can easily handle a worst-case 80% stock crash, Thanks to my advisor.
I could really use the expertise of this advsors
Her name is ‘Marissa Lynn Babula’. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
There are a lot of companies out there that can power through recession and hardship periods, I'm just a fan of buying into moat heavy, cash flow grantors, buy on dips, and add as they drop, and enjoy the bull markets when they happen.
As always, it’s absurd when people call stocks momentum a flunk, they aren't considering the long run. The companies themselves have not changed, it's the market that changed. Steady as it goes, and it'll regroup in weeks.
I need the market to go down some anyway. The small pullback at the beginning of the month wasn't enough. I was looking for a rough setback as I am eager to capitalize on the market.
nibbling on heavy red days has proven to be fruitful for me, these days I’m extremely attentive we are entering an unusual market (distort) economy. That doesn't mean that you can't unravel opportunities in every sectors, you can but you should be considering rewarding options first to 10x in excess. It would be a vast awareness to align under a top performer for easy earning picks. I did the same and it works.
Very well seems like a lot of your interest is riding on your source, I could really get well accustomed to your viewpoint, get me involved mehn
Oh very well then, all props to Margaret ann Myatt, her name, and she a well experienced quality individual with an acclaimed prowess.
My nephew works in California in Tech sales for hardware and software. 2 years ago he had 40 job offers per month. Now his company is struggling to make it and it's down to him and 1 other rep. He sends out 30 resumes per months and only 1 has responded in the last 30 days and he is a top producer
I’m surprised it has hung on as long as it has.
It has been this resilient because of the Trump tax cuts, which are still in effect.
Same thing here, I expected this craziness to end much sooner
Me too !!! 😂
Consumers (🐑🐑🐑) are still spending on stuff they don't need.
@@OGwhaleand spending money they don’t have. It’s all going to come crashing down eventually!
With inflation eating away at savings and the market being so volatile, it's tough to decide where to put your money.
The unemployment rate Ken is really much higher
Look at U6 that is nearly 8 percent and is the way unemployment was measured since 1942 to 1994
So i agree with this video
Things are not going in the right direction and eventually stock market and seet prices will refelct it-lesson-keep liquidity to take advantage
Agree, I have tracked unemployment state by state for the last 18 months. That 818k down revision will be revised again to below 1 million. And if the unemployment numbers can't be trusted that means we can't trust GDP and CPI either. I think unemployment is already above 10% right now.
These people are way too optimistic…. We’re all drowning in inflation 😢
Congress is for sale. On the take. BOTH PARTIES. And Congress mandates the Federal Reserve. What could go wrong?
The problem is the person who made the sham rule her self. Came out and said this time is different and she explained also
Every time since 1953 when the FED cuts we get a recession and the stock market crashes. Thats all I need to know. Everthing else is chatter.
@@bpb5541 not 1995. Relook at history
This is exactly why the Fed cares more about employment than inflation. Once employment reaches a tipping point on the way down it's very hard to reverse the trend without a recession. The slow roll over the economy has been experiencing could easily accelerate into a full blown recession. If they cut 50 basis points that is an acknowledgement they are worried.
Well…
One thing some don’t think about is that some employees are pushing back on in office work because we have been able to cover childcare this way. Childcare costs have doubled since Covid and some of us would legitimately have to quit if we have to go back because the childcare costs are now more than we would make. It’s a very serious problem in this country.
Parents are supposed to raise their own kids. We will all be better off if parents start staying home again
@@lauragraves2948 exactly
But What about the Unemployed People who Fell OFF of the Roles and are NO LONGER COUNTED in the numbers~!!!????
Most of the time when you get hundreds of resumes, it seems 10-20% are qualified, or ones that you might desire as an employee. This was the case 6 Months ago anyways.
People don't have money to buy things when the rate drops.
Ken is lucky to have a hottie like Danielle
These folks wear their emotions on their sleeves and are as transparent as a glass of water. Ken is heading towards his next divorce, she going to walk with one of his two billions
He’s got a prenup!
FJB and FKH, the cupboards are bare
Both Donald Trump and Joe Biden have added around $7 trillion each to the total debt burden during their terms. Trump shut down the whole economy, gave out the largest tax cuts in history and gave out stimis (all highly inflationary). But someone how folks forgot this.... and we want to vote him back in again. Biden was bad, Trump was way worse.
Mostly women That are flooding the job market who don't need to work But because most of these are women Who want extra money For their luxury vacations or an extra car they don't need is actually counterproductive and driving their own salaries down
Open border = less jobs for Americans
Folks that are worried about immigration are like a drowning man worried that it's raining. The US Govt is spending 8 billion a day. Don't worry about immigration Fox News is distracting you.
Our economy is facing challenges due to uncertainties, housing problems, foreclosures, global fluctuations, and the lingering effects of the pandemic, leading to instability. The rising inflation, slow growth, and trade disruptions require immediate action from all sectors to restore stability and promote economic recovery.
WE NEED BETTER WELFARE LAWS THEN WE COULD HAVE A DEPRESSION WITH NO PROBLEMS
Don't move to Phoenix, our summers here are becoming ridiculously long and hot. I have lived here 57 years and I want to leave. 5 MONTHS of extreme heat it just too much.
Maybe we need a recession to rebalance. the longer we try and stop one the bigger it will be once it pops
Is that not the point of importing people is cheaper labour?
Wrong wrong wrong no market crash
Hey with all respect to the young lady can you please let Ken talk. Stop interrupting Ken. Please. It is his show he is the expert and not you. .
The young lady is his wife 🤣
This! I've stopped watching because of her. This video is the first one I've watched in a year.
I like her perspective as a small landlord 👍
Things go BOOM
Rents ARE NOT going up my friends, they are GOING DOWN. In Tampa, FL, rents are going down down down, thousands of apartment units available. It is incredible how renters are NOT INFORMED AT ALL to accept these HIGH RENTS with so much INVENTORY available. Rates need to be kept high so we can have a healthy economy. I'm actually making money on my savings at the moment (5% on money market accounts), so you are "HUGE" liars saying that the "worst" you can do is keep your money in a savings account. My 5% is a lot more than real estate investors are making right now on their rentals.
Before people condememn the govt for being being the highest source of employment please consider that in my parents generation (they gre up in the 50s they considered the government as a reliable and stable employer for African Americans when private employers either would not consider hiring African Americans or fire them first and without food cause.
One thing that's not getting touched on right now is the BEST employees are leaving positions because middle managers / poor contributors who are there due to DEI, personal connections or "fitting the profile on paper" but not being good hires are getting extremely politically aggressive in making life bad for the top performers because they know they're much less likely to get re-hired elsewhere. If you think about it - if you don't work most of the day you have a lot more time to make others look bad or to sabatoge their work / work value internally. Additionally many small business owners prefer ego trips / getting a sense of control over profitability and so are attacking things that invalidate them (during this period of increased business difficulty) instead of paying attention to profitability. Sounds fake at first glance, but seeing it too much firsthand to ignore it.
When unemployment goes up the landlords have to know they are facing a ticking timebomb per say with the tenants not willing to deal with their rental payments as is should look to be smart with strategies with rising levels of unemployment and cash strapped tenants looking to possibly vacate or can’t pay. What ever happens the landlords are dealing with an unpredictable crisis with the unemployed who will demand less rent. This is my main complaint with employers versus landlords both have competing agendas that can hurt each other keeping employees and tenants. Something has to give with this imbalance in the economy an it will so. Employers have to cut the fat and downsize and landlords face this reality check doesn’t play well in their favor seeing rising unemployments know these could be tenants they have lease agreements with.
The owner of the company i currently work for issued a mandatory return to office back in March. I am leaving at the end of September with a small business earning me 150% of my old paycheck at 50% of the effort. It's been rewarding seeing how much they are gonna miss me when i'm gone. Of course let them know how they can hire my business if they need anything :)
How about the government stops controlling rates and lets the market set rates through normal business forces. The market will set its own rates with a Laissez-faire approach.
Any idea what the average delta is on fixed costs (electric, gas, water, etc) for average size homes today VS. what the the delta was on the mortgages that caused the defaults in 2007 time frame? It seems like the fixed cost today have exceeded what the increases were in 2007. If so, do you believe massive defaults/foreclosures are just around the corner...again.
Sometimes I just hate these real estate people. Complaining they had 2 years of bad business when they had 22 years of sky rocketing assets, especially if they weren’t dumb enough to liquidate during 08
rates going down does not take immediate affect. Momentum will keep things going down for sometime as people will remain afraid. The affect will take a year or more to take hold.
Any thoughts on CBDCs? Feels like Wealth Transfer 2020 was a pretty transparent attempt to force people onto digital currency.
According to an economist said that from now 4.2% unemployment to4.5% end of year then begins next year it moves from 4.5% to 5%.
want to hear more commercial multifamily since that’s what you’re an expert in
plus.... govt job # increase has offset the reality of private sector
Claudia Sohm said that her Sohm rule may not apply to this economy, it might be a false indicator in this economic cycle.
Haven't you guys been talking about a crash for the last 2 years...?
Just started a real estate directory. Save and follow it to stay informed!
When the stock market tanks everyone will know
How many of yhose jobs are connected to Ai?
Meant to stay stock market and asset prices
Auer Parkways
What happends when the government is the only consumer and job supplier
Correct
I’m 73 and want to retire. Can I? This is a bad time to retire. But I need to for my mental health. My pension is 9000 a month. I have no debt
Retire