WARNING: Next Chapter for the U.S. Economy and Housing Market
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- เผยแพร่เมื่อ 1 พ.ค. 2024
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U.S. economy and housing market begins massive slowdown... what happens next?
#useconomy #usrecession #ushousingmarket
Todd Sachs is a Maryland Real Estate Broker and not a Lender, CPA, Attorney, or Financial Advisor.
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I've been poor my entire life, so i know i will be fine. Just as i get ahead with finances, something happens to kick my progress back down. I've been trained to survive on very little.
Same.
Yep, being poor has it's advantages, when things go to total crap, everyone else is panicking, we just roll with it.
"When you ain't go nothin' you ain't got nothin' to lose" - Bob Dylan
@@mitchtupelo76 Yep, exactly. Social Security will announce COLA's in Oct. I'll be surprised if we see a 3% COLA knowing full well inflation is ALOT HIGHER. But we make it each month
@@mitchtupelo76 Yep, Social Security will announce COLA's in Oct. I'll be surprised if we see a three percent COLA knowing full well inflation is ALOT HIGHER. We just keep on rolling, paying our bills each month
Man. Thank God I got out of debt last year. I’m debt free. I’m considered a dead beat with credit cards. I pay off them off on time every month and live on what I can afford, not beyond my means. Grateful I learned to stay 3 months ahead on my bills.
Now it time to buy monetary assets to protect you from a hard collapse like gold and silver
Let go of the credit card and bank account then.
We have been out of debt now for 8 years pensioners . Never been so free. Used our equity to purchase off grid remote property . Worked 50 pounds off great health returned . No major health. Issues . I feel like the system must of been poisoning me. BC Canada inland rain forest .
Great job!
These bots are insane
My new neibors have 2 new cars and rent. They made a smart ass comment about our older cars. When they asked what my rent was, I told that I paid cash for the house,cars, motorcycle and jet skis. Haven't talked to them since
Good answer!!
Nice one.
I would have laughed at them for asking what my rent was.
“…nice cars though!” 😂
If you're paying rent instead of buying...you're already behind the eight ball!
Something is wrong when 78% of people are living paycheck to paycheck. Groceries have doubled in the last four years.
WEF agenda take the wealth,rights, freedoms and quality of life away from the people so you only have two classes, the upper class and the lower class. And every one making the same income as designed by the state.
Nobody seems to notice , nobody seems to care
@@steve5976 I know, the people just know that there paychecks are shrinking but not realising the whole house of cards is going to come tumbling down in the middle of the night, now thats going to be like getting shock therapy to your system. Think of the stress that these people will suffer, marriages will fail, people will lose everything they once had, not good.
Good,i like it☝️👍
@@AbuHasan-nw1jj why would you like it, are you one that wants the American economy to crash ?
Going through the 08’ housing crash and economic crisis really forced me to create some good habits. I ditched any credit cards, ditched the new car payments, saved as much as I could and limited spending. So when times were better and busy with work I was finally able to pay cash for a house and I even found a good deal in this crazy housing market. It was a lot of work but it paid off!
Times are about to get interesting. As a Boomer, I'm at the end of my string so I don't worry about it that much, I do worry for my son and his family though. When the SHTF the only course is to get mad, get mean, and push forward. The only thing sure about this life is, No One Gets Out Alive!
The house is on fire, yet everything is fine.
Till they are not
@@gfish9636 Titanic, just keep dancing.
Make sure the music keeps playing … “one good thing about music when it hits you feel no pain” Bob Marley
@@LookingupinJA comfortably numb
Gen X here, I know everything is not "allright". We live in a system that runs off of debt, our dollars is worthless and we outsource most of our production of goods and materials to other countries. We are investing too much in wars in foreign countries, and our politicians don't give a $h#t about us! And let's not forget our crisis at the border right now.
That's exactly what's happening now, they have 87,000 new IRS agents and they said they're only going after people with 400,000 or above but reports are now coming out saying that the majority of the people that they're auditing are $200,000 and below it is so sad to see what's happening to our country
They’re going after all the small incomers and they are also arming them which gives them 87,000 UN soldiers on the ground
All 3 letter agents they never worked for us. But they work with our unlawfully taxed dollars. So, what makes you think. They will work for us this time?
80 billion to IRS to get those ‘cheating’ taxpayers. Well so for it has netted 5 million from the ‘cheaters’ this is a 1/160 th return. Joe Biden you are an idiot! Please go back to your basement.
Last year the most audited income group was below the 75k range. Again lies and more lies. When will the American people have enough. Unfortunately it will manifest with people getting killed by the lower income groups that are already massively desperate and cannot eat or shelter. They will attack the next level up. The rich will stay safe for a while until the masses of young men decide that the suits in DC will not leave without force.
Alphabet agencies are foreign troops! Believe it, receive it & plan accordingly! These people who sell their souls to these agencies are not your fellow countrymen, they are foreign occupiers!
I could listen to you two talk for hours. It really doesn't get much better than this. Great work!
seriously! I think I'm in love and I think I'm mesmerized by his mind, knowledge and wisdom
My mother saved so much. She was a single mom raising two boys and I remember going out to dinner the night that she paid her final mortgage payment off.
Today, I thought of her. I’m at the end of the baby boomer generation. We paid our for us at least, expensive car payment off early today. We hope to be completely debt-free by the beginning of August.
I feel blessed and grateful. We will never go into debt again, because of an emergency. there is something special about feeling that your “getting out of your debt trouble.”
So good for you. We did the same a few years ago. Will NEVER go down that rat hole again. It is financial slavery.
Problem is healthcare will take a big chunk out of your month fixed income if you don’t have great balanced investments. Also, the government can still tax your property. With trillions in debt and a trillion in interest payments every 90 days, they WILl come for our money one way or another. To me, if we have a paid off roof over out head and paid off cars, then we can a least live and forage for food if we are able and that is where having great adult kids come in handy. Good luck American boomer. I’m also the last of the boomers and have dodged many bullets to get to some kind of retirement. Just happy to be alive after all this covid BS, lab virus, and experimental mrna. Many of us are dying prematurely in my view.
THOUGHTS OF A FOOL, YOU WILL GET TAXED INTO POVERTY AND HOME STOLEN BY THE BANKS AND YOU WILL DO NOTHING ABOUT IT. SERF.
I paid off my house 10 yrs ago and been saving for retirement. I have no debt. I bring home only what I need for living expenses. I hate paying government taxes at the end of the year bc I have no dependent or mortgage to claim except property tax . Feel like I can’t save anymore because of inflation
My Grandmother told me you don't spend what you don't have spending beyond your means
And be who you are not what you think you are
And that saved me being in dept
My dad aways said "if you can't afford it you don't need it!"
Either you or your grandmom dont know how to use words.
@@johnmeehan7884 LOL🙂 spelling, no punctuation and run on sentance.
Today's times are why a lot of us are putting away the credit cards, pay down on what we owe, NOT eating out, having staycations, taking advantage of our yards by gardening, saving money each month, paying down mortgages quicker and quicker.
sadly...not eating out, vacations , put a lot of small business owners out of business. but I agree. spend less...save more. 5.10% fdic insured savings is my nest egg.
if fdic goes belly up...look for me under an overpass
@@garyssimoThe FDIC only has enough money to maybe back one major bank failure. Everyone else will be left out in the cold, because their money will no longer be insured.
@@garyssimo I've been watching for less people to eat out because restaurants as well as drive-thru prices has skyrocketed, but the lines are still long. I don't get how so many people can still afford to eat out!! Maybe they're just using credit cards? I don't know.
Yep! We are building a house cash after cashing out our investments. We would rather have a paid for house than stocks that go down 50%. Paying down debt, getting some food production going.
@@garyssimo NM they neglect to tell people it can take A LONG TIME to get your funds if you are FDIC Insured. They don't have the cash to pay back millions of people when banks start shuttering more and more.
“You destroy your culture when you destroy your currency.” … Word Is Bond 💯😢
Currency can't be destroyed and culture has nothing to do with currency.
@@keyisersoze crazy how you're so factually incorrect.
@@prolific1518 Money is law. It is supposed to be injected into the mode of production and never speculated on stocks, real estate, commodities, or other currencies.
Culture is a representation, an artificial process. The only thing that matters in the cultural process is the strength of our tribal passion, which goes back to the first humans, 100 thousand years ago. Money will go away soon, but tribalism will never go away.
@keyisersoze - You babble too much.
Both are diluted beyond repair AND They cheat in elections.
Every family needs a home and a backyard and a garage and a full kitchen and two bathrooms.The emotional value is well worth never going out to eat.
Small chicken coop in a back yard would not hurt as well 😊
I sacrificed for 14 years to be able to pay off my home and be completely debt free, now inflation doesn’t effect me as much as people that don’t live within their means.
If you buy a house right now, you are playing a very dangerous game, at least in my opinion. It's insane
People are going to get screwed either way. Even if prices crash interest rates are still high. Rents will remain high. No matter what happens, you're gonna pay more.
Worst case senerio is you have your house paid off but can’t afford to pay the high property taxes to the government. Will the government come and take your house?
What time most resembles the time we are currently in? The 70s and 80s. What happened to real estate in high inflation times? It skyrocketed.
@@Mark-pb8kj theres a max on how much you can raise rent per year. mortgage rates can go alot higher. renting is still safer
Fools and their money are soon parted.
im a gen x and i see the writing on the wall, things are not ok, everyone needs to prepare to homestead, and i do not trust mainstream media at all, not even since the 80s!
Egypt, South Africa, Nigeria, Ghana, Cameroon, Senegal, Algeria, and Saudi Arabia have begun withdrawing their national gold reserves from the United States.
The withdrawals are part of a broader trend reflecting growing concerns over the stability of the American economy and a move towards diversifying risk exposure.
Wow, they are so slow, they should have been doing it 5 years ago.
Some will be in for shock, it's not all there to Germany has been asking for their gold for 35 years or more
Better late than never.
No, it’s coordinated to crash the dollar so they can implement CBDC’s.
@@foilrider2000Some of the countries still have alot of goal that is untapped.
Another stellar show!! He is easily one of my favorite guests that you have had on, outside of Adam. I appreciate you sharing your personal story about not declaring bankruptcy. Mad respect for you friend. Keep preaching truth... people are waking up.
EYES OPEN, Thank you guys for making me feel I am not alone or crazy to see this in 2019 BEFORE the man made pandemic ❤❤❤
It gets worse when you realize the bugs test and vax all patented early 1990s.
I don’t always agree with this channel, but I cannot deny that this is a great place for everyone to come for information.
My daughter attended a college, decided in the first month that it wasn’t for her. She left the college, and finds out years later that the college kept the loan, and she is responsible for it. The college no longer exists. She hasn’t been able to get it removed from her credit.
😳😳😳
Same happened to me
In my town, city officials are trying to figure a way to barricade the railroad tracks so that citizens don’t jump in front of trains. Seems to be rampant where i live. People can no longer sustain their shelters. Pay their bills. But I don’t know anyone that wants to lose their home. So…. Seems exit plans are being discussed at senior centers…. Best way to exit without jumping in front of trains. No one want to live in theI car or under a bridge.
They need to wake the hell up fest.
BANK MORTGAGE BUSINESS IS AN UNCONSCIONABLE SCAM -THE PROCESS STEP BY STEP
1. Borrower signs the bank’s Loan Contract and Mortgage.
2. Borrower’s signature transforms the Loan Contract into a Financial Instrument worth the value of the agreed Loan amount.
3. Bank Fails to disclose to borrower that the borrower created an asset.
4. Loan Contract (Financial Instrument) asset deposited with the bank by borrower.
5. Financial Instrument remains property of borrower since the borrower created it.
6. Bank Fails to disclose the bank’s liability to the borrower for the value of the asset.
7. Bank fails to give borrower a receipt for deposit of the borrower’s asset.
8. New money credit is created on the bank books, credited against the borrower’s financial instrument.
9. Bank fails to disclose to the borrower that the borrower’s signature created new money that is claimed by the bank as a Loan to the borrower.
10. Loan amount credited to an account for borrower’s use.
11. Bank deceives borrower by calling credit a “Loan” when it is an exchange for the deposited asset.
12. Bank deceives public at large by calling this process Mortgage Lending, Loan and similar.
13. Bank deceives borrower by charging Interest and fees when there is no value provided to the borrower by the bank.
14. Bank provides none of its own money so the bank has no consideration in the transaction and so no true contract exists.
15. Bank deceives borrower that the borrower’s self-created credit is a “Loan” from the bank, thus there is no full disclosure so no true contract exists. Borrower is the true creditor in the transaction. Borrower created the money. Bank provided no value.
16. Bank deceives borrower that borrower is Debtor not Creditor
17. Bank Hides its Liability by off balance-sheet accounting and only shows its Debtor ledger in order to deceive the borrower and the Court.
18. Bank demands borrower’s payments without just cause. Deception-theft- fraud.
19. Bank sells borrower’s Financial Instrument to a third party for profit.
20. Sale of the Financial Instrument confirms it has intrinsic value as an asset, yet that value is not credited to the borrower as creator and depositor of the Instrument.
21. Bank hides truth from the borrower, not admitting theft, nor sharing proceeds of the sale of the borrower’s Financial Instrument with the borrower.
21. The borrower’s Financial Instrument is converted into a security through a trust or similar arrangement in order to defeat restrictions on transactions of Loan Contracts.
22. The Security including the Loan Contract is sold to investors, despite the fact that such Securitization is Illegal.
23. Bank is not the Holder in Due Course of the Loan Contract .Only the Holder in Due Course can claim on the Loan Contract.
24. Bank deceives the borrower that the bank is Holder in Due Course of the Loan.
Thanks Andi Ryan
I'm so sorry. The struggle is so hard. What part of the country are you in?
That sort of reaction is hardly new. It has been an ongoing issue in many areas. The leaders in your area can contact those in other areas where this is happening and look at the solutions that appear to be most effective.
Historically activity of this sort is expected to increase as times get tougher.
City name?
@@dougdownunder5622 Most anyone can search the topic on the internet and realize this issue is not restricted to just one city or area.
Today’s average American adult is the owner of Bills with No cash in their pocket❤..
I just got out of college AND WORKED AND PAID 60k - absolutely NO! to ANY BAILOUTS
You probably worked 2 stay at home jobs while people couldn't even get 1. Don't care about your feelings. Cancel this bs student debt.
@@prolific1518canceling the debt means the tax payers pay for it. Why should we all be responsible for others poor choices? I personally don’t want any of my tax dollars to go towards paying for someone’s gender studies degree.
@@TheDankrista I don't want to pay for the US military to act as a terrorist group. I don't want to subsidize the richs' next yacht when they don't pay taxes. I don't want to subsidize foreigners coming to take jobs because their countries pay for their education.
pay no attention to jerks like prolific 1518. I tip my hat to you.
My three kids all paid their own student debts... working hard while others went wild on spring break, and bought new iPhones on credit cards.
@@TheDankrista and I don't want to subsidize TH-cam (alphabet pays a lower tax rate than me) while they censor my comments. But guess what? It happens. I'm not typing it out again.
Gen Xers know everything is NOT okay. We will be the ones who care for our silent Gen and boomer parents, while at the same time getting our kids through it and working until we drop. Latch key kids , we were, and tough old buzzards we will become!
I am not working until i drop. Max 60 years old.
@@bpb5541 I do hear you. I will probably be out before you. When I said "we" I was referring to our generation in general, which if you look up stats on Gen X is largely true
@@bpb5541
You’ll be working way past 6O just to keep food on the table when the gubment goes bankrupt.
I'm 56....Generation X.....There are other options....knowledge is power......
@@OilTradingYeah, 54. Acquired acre of raw land. Now living semi off grid on it in my Rv. Rent & mortgage free. Saw this coming years back. Prepped & invested accordingly.
My property taxes increased 33% and I had filed homestead exemption and I am 71 years old on a fixed income! Bad news! One ounce gold coin will pay most of my property taxes.
Check with your county assessor's office for senior exemption and fill out the paperwork. Good luck.
Where do you live?
A boomer here. Growing up in the 70’s, people were appreciative of basic shelter, food and transportation. Seems like people today are more concerned about their lifestyle choices, which equals nothing in the grand scheme of life.
As a millennial trying to buy a home to raise my family, comments like yours are really depressing. It's location based, but you are very wrong for most areas around a large city. Anything under 220k in Houston needs burgler bars with a very unsafe ISD. 250k with today's interest rates, taxes, and insurance rates require well over 6 figures of income AND living like you are dead broke. Do that and you can may be get a starter home and still afford bills and saving for retirement.
that's the other way around dude. You had the easy life with cheaper college, less govt interference in money making and taxation and much higher wage per hour than today's generation.
@@OGfancy420
Here’s a positive for you. The mtg interest rates in the early 1980s peaked around 18%-19%. Imagine those rates today.
I think it’s both in affordability and lifestyle creep. You can look at statistics of “volume” of things people own and have in their homes increase every generation thanks to corporate advertising and marketing brainwashing which I had to deprogram from as xennial from my early year. Unfortunately you can look at the crazes like people paying $500 for and pink Stanley water cup to see the programming is still working
I’ve always been one that was never worried about having stuff and right now. I’m on vacation in Belize and I realize how blessed we are in America.
Yep, it used to be go to college , get a white collar job. Now it’s get into the trades.
The timing of the college scheme of Feddie / Frannie happened after a decade of jobs being shipped overseas when companies were allowed to offshore and still be an American company.
College or Military were the choices for the masses graduating 2006-2014.
2009-2015 job postings look a lot like some do now. BA and 5yrs experience for 15% over what use to be entry-level.
All the ATM's out here in central TX were down last night. We are living on what little savings we had. I have a PhD from Harvard, and still struggle to gain employment in my profession. It's been harrowing. It is exactly like 2008 all over again, different culprit.
User, that’s terrible. What’s your degree in? I blame the Universities for this. Degrees should only be offered in areas where they have value. Medicine, engineering, accounting, STEM courses another words.
The University does not force you to choose your degree. If you want to be a writer and expect a 2M a year income that's on you lol
@@MayaChadalavada-nz7qg we are forced and manipulated into making these choices at 16 years old. We were told our entire lives that if we went to college we would be safe. We can be anything we wanna be if we just go to college. My generation was lied to and everyone is blaming us.
@@Eve0127 or you're just dumb, didn't bother to research the degrees or market you chose, and now you blame others, because doing research was too difficult for you. Plenty of people went to college and made their lives better. They were smart. You are not.
The moral of the story is, once the government gets involved it goes to shit lol. I should also add that as someone with student debt, I completely agree it isn’t others responsibility to pay for that. It also doesn’t fix the fundamental problem of the colleges charging too much because the money printer covers it. We need to be encouraging kids to go to school and get degrees that add to the benefit of society and schools need to do a much better job of ushering kids into fields that make sense for that individual and their future. I’m trying to stay positive but 33 year old me is struggling to see much light at the end of the financial tunnel right now so hopefully we can make some needed changes in a hurry. Sorry for the rant.
It's good to have a wee rant : )) one day at a time, You are not the only one, its also shit in Scotland. look after Your family and friends, love from Scotland. Peace and Neutrality.
Come to any of the Jersey Shores Memorial weekend and you see a lot of the population here is pretending to be rich .
I don't get it. Fake life?
Come down to LA to keep up with the Kardashians.
They are rich if they're Vaca at the shore lol.
I’ll be there !!!!! No rich here ,,,
To your reply’s, = SCAMMING, FRAUD, Death inheritances that have nice wealth transfer to people besides the main points that Todd pointing out in this video. And yea, entire NJ state would turn into L.A. IF white collar jobs get replaced with people over sea’s and A.I. when it’s smart enough . Where you think these wealthy people gonna go if NJ population craps out. = Bringing our problems to place near you . !
I love this man being honest about the Baby Boomers- I was born in 88. There was a crash in 2000, 2008, 2019 and now we’re in the same boat with the stock and housing markets. I graduated high school in 2006 and college in 2011. First real job was in 2015, didn’t start making a good wage until 2019. Paid my car off last year. Starting stacking precious metals in 2020. Trying to find a place to put the little currency we have that is not super risky is very difficult. Glad I’m from Flint, Michigan so hard time aren’t new to me
You missed the Carter administration. That disaster was the beginning of where we are now.
It was horrible at the time. Who would have thought that they sowed the seeds of our destruction then.
LYFT.....currently $17.55....Projection $80 within one year possible much sooner UBER just had a run from $20 and they are in same sector....LYFT IPO was $85....
This was so good! As a 23 year old this is so refreshing. No doomsday news talking about how the world is going to end- just economics and history. I wish this episode went on longer!
The problem with student loans is the interest. The way the repayment programs are structured, the loans balloon. 42:48 The plumber and electrician argument doesn’t make sense because we all pay taxes on government services we don’t use.
I absolutely love John Rubino!!!!
I said this a few months ago. I now understand the original Boston Tea Party. I totally get it now.
Always love hearing from John.
People need to wake up,you borrowed it,pay it back,MAKE NO MISTAKE, A LOT OF THE LOANS WENT TO,DRINKING,DRUGGING,SPRING BREAK,AND HAVING A GOOD TIME,PERIOD
A good example is Rubino's son and Travis🤣
grow our own grapes and weed....
2 problems solved?
maybe that's what you did with your education
Bottle service.
@@vallmak clearly that's what you did with your education considering your level of illiteracy.
I am an EE I specialize in industrial automation and electronic instrumentation. I can speak intelligently about AI in an industrial setting. Cutting to the chase, AI TAKING jobs away from humans with hands and fingers is DECADES AWAY. Automation as we know it is complex and expensive. Companies can't afford to just HIRE A ROBOT. There are SYSTEMS that benefit from automation but the idea that next Tuesday there will be layoffs as an employer purchased a dozen robots is, well its nieve
agree with you. AI is way overhyped right now
I love your show Todd! Keep up the great work in getting the message out.
A economic meltdown is months away, hyped up stock prices, hyped up property values, pure madness , reality is just around the corner
Wow, that's only been stated for the last hundred years.
This time you can feel it in the air, years of wage suppression, living on credit has sunk most economies and business greed driven by annual bonuses has pushed workers / consumers over the edge. Even Warren Buffet pulled out of stocks and cashed in.
@@johnmeehan7884 problem is the fiat funny money scam and QE financial aid packages kicked the can down the road. Now the fake recovery bubble is about to pop and the collapse is staring everybody in the face. It will be a blood bath for anybody carrying high levels of debt both personal & business debt.
I cannot wait to buy everyones home from the bank who shamed me for not buying in the past couple years
And I will be buying what you do not buy lol
I like small homes with no HOA
Same I got my 20% down for the current prices even 40% for others and i just refused to believe any home that is not 4 bedroom and pool and some form of golden statue is worth over a million in canada here where the average trailer home is over 600k
Same.
It could happen. But I think this might be a long term issue
43:18 Colleges should pay from their endowment funds.
My aunt passed and I inherited some of her portfolio and cash savings, I’m 28 with about 400k cash in savings and as usual everybody’s preaching invest, so what stocks are a good long term buy, only major purchase I intend to make is buying a home in 5years from my returns
Lucky you, I’d buy a lot of tech stocks and Dividend portfolios with that.
Invest in a S&P 500. Long term it’s returns are stable and plentiful. Also allows diversity with just 1 account. It’s comprised of the best performing stocks.
You are the best John ! I am 71 years old and I always wait for the next shoe to drop and be aware!
I was born in 1961 sold real estate and now I'm debt free ..all my rentals paid for and my home...I planned it from age 21. Came from a poor family ..People have to wake up and get a plan .
Similar story here.
Welcome back John! Always love hearing from you.
This channel is getting serious. Great interviews!!
I might have already survived a similar environment that might be coming to western world. Back when USSR fall a part I was a 8 year kid. But I do remember the lines in the store to buy bread and milk, the wipeout of my fathers income, how my family could barely afford to feed the family. How crime was on a loose. "Wall on wall" street fights was a weekly routine back then. I also occasionally recall how teacher announced that a family of customs officer was slaughtered, both parents and kids, one kid in a class 1 level higher than me. How intergirl and thief-in-law were role models for everybody young. Sounds bizarre, but 30 years back it was a normality...
Soup Kitchens opening up soon for Great Depression 2.
Hopefully they will be able to open in this depression .. it might be a different version .. more modernized…
Todd, like my son, you find out the strength of character when difficult times hit. Some contractors made excuses & bailed on him, resulting in court actions. But those who approached him with an earnest effort to “make it right” albeit delayed or reduced payments over time, he respected & worked with them. Oddly enough, they were the ones who ended up growing & later thriving.
Thank you both for another great video filled with a lot of good, practical ways to best prepare and address what’s happening.
If we reduced our calorie intake by 30%, we would still be living in gluttony. We could do it, but most of us simply refuse. Same goes to housing, if we realized that we could cut the square footage of our houses by half and still have more than enough space we would not be in this debt.
I went from 1800 sq ft to 878.
cant yell at a cat without hair in my mouth. its that cramped. sleep with over 4 cats stay warm!
then gobroke on cat food. vet bills
@@garyssimo Well hell Gary, I guess my best financial advice is wait for those 2018 prices again, reduce that footage to 600 and get rid of the cats.
This is untenable
@@calebomega3824 Nah, we can, but we won’t, until we are forced to by a lowered standard of living which is inevitable.
The issue is you shouldn’t have to do that. If you were comfy with double square footage then and you reduce it now because lack of funds and have to actually eat less to get by easier, that is a major major issue.
When the top 70% is living like the top 1%, we are going to have problems. Everyone has Financed BMWs and Jaguars. Don't judge your insides by other people's outsides!
Wouldn’t be a problem if insurance didn’t double in 3 years
🤷♂️😂 my car and insurance were 15% of my income when I purchased it. Today it’s almost 30. That’s bonkers dude. The cars price didn’t change…
@@shanejones578 insurance just distributes liability, measured in dollars to replace. If too many bailouts need to occur liquidity dries up systemically.
That is not even close to the actual reason for the Economic issues we are facing, don't try to pivot the blame away from the Fed. Runaway inflation due to unchecked Gov spending has little to do with the individuals who take on too much debt.
It has more to due with the 30 Trillion of debt the Federal Gov is in and the continued printing of money. Anytime the Federal Government prints more USD, even when it was for Covid relief, the only winners are the big corporations who have all of the money going their way in the end anyways. We The People who are mostly Consumers pay the costs, we pay the cost with increased prices everywhere in life while the corporations basically feel no change. They still get their money in the end.
@@JA-wb5my this self testimonial is humble, and perhaps should have clarified for it, that the jeep wasn't a subtraction but a relief from his life. The stress of a nicer car is all encompassing stressful *because* of the finnance you know in your heart behind it. He was always more relaxed and still loved his car adequately when it was 'whining his means". Thats the motivation behind that.
Yet since some of ya'll are simps, will only understand is 7 figures and when having the 7 figure lifestyle aint apart of it -- you disregard and instead take on 'manifesting' it another way. Live in reality, not delusion.
I know 30 yr olds, 4 year degree, live at home, not married, no kids, working at jamba juice, star bucks, game stop, PART TIME!!!!!! NO LIFE GOALS.
The rising interest rate can surely control inflation, but won't prevent erosion of the eroding purchasing power of the US dollar. I have learnt my lesson this time. The banks can't be making money off my money, while inflation eats into it. I have set aside 650k to invest in the stock market now, since that keeps up with inflation, but I don't know how to get started.
If you're new to investing or don't have much time, it's best to get advice from an expert. Investing without proper guidance can lead to mistakes and losses. I've learned this from my own experience.
the best market strategy is to work with a credible investing coach. Since a while ago, I've been in touch with a coach, mostly because I lack the depth of understanding and mental toughness to deal with the ongoing market conditions. You lack the information necessary to succeed in a competitive market, not because you're doing anything wrong, but rather because of your lack of experience.
@@Susanhartman.Mind if I ask you to recommend this particular coach you using their service?
‘Gertrude Margaret Quinto’ is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I looked up her full name online and found her page. I emailed and made an appointment to talk with her; hopefully, she gets back to me.
I lost over $70k when everything started to tank. Not because I was in an exchange that went belly up. I was just stupid to hold and because that's what everyone said. I'm still responsible. It just taught me to be a better investor now that I understand more of what could go wrong. It took me over two years of being in the market, I'm really grateful I found one source to recover my money, at least $10k profits weekly. Thanks Karen Cosmann
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
You trade with Karen Cosmann too? Wow that woman has been a blessing to me and my family.
I'm new at this, please how can I reach her?
I just withdrew my profits a week ago, To be honest it was an amazing feeling when the profits hits my wallet I wish I could reinvest but, too much bills
Anyone receiving bailout money shouldn't get to vote for a minimum of 8 years.
Yes and if you receive a donation from a company that company that donated should not be allowed to get a bailout.. they tried to avoid taxes just to now need help.
It also boils to favor for favor with congress
Problem with that...corporations don't vote!
This discussion was one of the best I have heard in a long time. Thanks
BIG BIG Thanks for bringing Legendary Premium Guests, such as Mr. Rubino. John’s perspective is unmatched when it comes to Macro. Much appreciated.
We may not survive these idiots in office.
theres a guy running for president I think can end some of our craziness.
@@garyssimo The criminal rapist?
@@garyssimo it’s gonna be too late. He was in there and wasn’t much better at finance matters
@@garyssimo He was horrendous, no one can work with him - hes total chaos and a 🤡
Nor the one that is gonna follow. Folks need to be very careful what they wish for.
I do feel like we have failed education since probably the early 90s, we failed to teach people that on a long tern loan they will be fighting both inflation and interest. I only recall learning about interest DANGERS from my grandfather. School almost made it should like a normal life plan. I could get behind a plan to re balance interest on student loans. and make all future student loans a fixed interest balanced across the loan. 10% of payment is interest 90% is principle by default. Not fee, not spending money to bail out. just not traditional compound interest in regards to student loans.
Schools started failing when they allowed public sector unions such as the Teachers Union. Unions usually were/are represented and led by lefty socialists.
Thanks for getting John back on, he speaks so eloquently on the topic’s discussed 👏
Thank you greatly appreciated the information!!
Us citizens should not have to spend money to learn making its future better.cAnerica gives other countries too much money. Charges too much tax to it's citizens.
I agree. This whole system is rigged.
U.S. population is just a cash cow for the aholes running this aging empire
John is awesome..thanks from Australia.
Hi John, 2 questions.
1. What is the time line (best estimate) for currency/hyperinflation crisis or deflation crisis?
2. Is America come close to either one of the crisis in the past? If yes, how did we make it through it before and kept fiat system intact? Thanks so much!
Such great advice! Especially at the very end
I see that Americans never learn the lesson, we have gone through many economic crises and they do the same thing again. With the purchase of houses 🏡 at exorbitant prices, use the credit on cards as the money 💰 is not worth and many x that
As if a house is a good investment. Americans refuse to envision an alternative lifestyle. The old buy a house and fill it up with junk is an old blueprint. The economic boom is over. They refuse to accept that the current economic system is outdated. It’s run its course. As if jobs are coming back to America. They are not. Thirty years is a long time to pay for a house. Our country most likely will not be standing in thirty years.
And we have the 20 million that were invited by FJB and company.
They'll be known as the the ones to blame, the fall guys or better known as the Pazzi.
That’s OK big daddy. Trump said there will be the biggest deportation that the world has ever seen Trump 2024.
Wow! No mention of 8 trillion debt created by trump giving tax cuts to big corp. and multi millionaires!
Great energy and chemistry in the video! great for listening and learning.
Wonderful guest, very wise, excellent t interview
MAD AS HELL WORKING RETIRED AMERICAN. CAN YOU TELL? . FROM SO CALIF.
American banks notified their regulator that they would close 36 branches in just one week this month - with TD Bank and Wells Fargo alone responsible for 28.
Bank of America, Chase, Citibank, Citizens, US Bank and Liberty Bank in California are behind the closure of the remaining eight.
Wonder what the CEO's compensation was for each bank?
John Rubino is always a good guest. Thanks for hosting him.
Amazing interview. I have learned so much. Really eye opening and very informative, because much of it is true and scary!
The more something costs the less important it is.
Absolutely 💯
Unfortunately I had to file bankruptcy during the GFC. I did not feel bad at all about giving the finger to the credit card companies. Prior to my bankruptcy they arbitrarily raised my rates because they said I was "high risk". No late payments, no beyond limit borrowing. The credit card companies are not much better than the mafia.
My brother had a go-between co help get his credit cards paid off. He said they work for the lenders not their customers.
Jason fuller, maybe you could review the debt you owed the nasty lenders you gave the finger too and discount the amount of interest charges added and then pay the principal amount. A restitution so to speak. Then you can look in the mirror and feel better about yourself.
@@jsd354 Apparently you did not comprehend my comment. I feel fine. No regrets filing Bankruptcy during the GFC. The banks and credit card companies were all criminal making a mint off of people. I am untroubled when I sleep, my boy.
Wow I really enjoyed listening to Rubino and appreciate his wholesome and positive approach. Thank you
Great chat...really important warning and advice. Thank you
Recession first, Repossession second
Then a Depression after the repo man takes your shlt
you know all the cards and the way its going to go down.
The ruling politicians in my state are discussing legalizing assisted suicide. Crazy world in America today.
Interest rates need to be increased to 10% to end inflation once and for all
Yea and what follows that is a Recession...
In the 70's was 16%
@@fee_ic4981 yes because everyone is maxed out on things they can’t afford, with $$ they don’t have, to impress people they dont know
@@user-vw3dw6or9t this not the 70s tho, homes were like 30k get fr what are u saying
5% during this everything bubble is already going to bring GFC2
Solid info thanks
This is the best vlog I have seen. It is nice for this to be direct and honest.
The silent generation has been running (ruining) the country for decades. The late boomers are the first generation that did not do as well as their parents. We came of age during some of the worst economic crashes and were hit hard in 2008, which wiped many of us out. Unless we got lucky, we were too old to start over.
What?! The boomers have had it better than any other generation. Please save excuses. If you’re a boomer without several properties and millions in the bank that’s bc you were lazy. I’m still working to pay boomer SSI and entitlements we will NEVER see. While making the same wages yall did with half the education we have 30 years ago. Poor boomer?! lol sorry nope
Agreed. Some Big Government progressive presidents like Woodrow Wilson, FDR, and LBJ weren’t Boomers.
is this a joke? are you sure you know who the silent generation was?
@@lukewarme9121 they're just leaders, not the population at large
@@brn2863
They’re just leaders??
Didn’t the population vote for them or were the elections stolen?
I saw someone say they are in a discord group with people who run up credit cards, sell the stuff cash, then get a new card. Then do bankruptcy later 😮
Good luck to them after bankruptcy. They check credit for housing/rentals and even jobs.
That is so sad
Just subscribed because the channel host has a mass of integrity ,I wish the world had more of these people 👍👍🇬🇧🇬🇧
Again, thank you insightful, I believe, honest and beneficial information
Gold wins no matter what happens in the future whether the Fed lowers rates,stay same or increase rates.Fiat debt money system has failed…
You can't eat Gold
@@lauramartin9474 ? Good point 😂 no you can’t eat gold not good for your lower colon or if you want to do air travel screening.We shouldn’t eat currency either but we can buy food with gold.
@@stephenbrown6041The precious metals markets prices are manipulated.
Governments may confiscate precious metals and restrict any financial transactions involving precious metals
Gold is a psyop. Things will be so crazy after SHTF, no one will be bartering or much less giving away necessities for gold.
At some point you will be right problem is it might be years from now
The government didn't force the students to go to college and take on all those debts. So why should the government bail them out?
The government didn’t force rich politicians to take out millions in PPP loans and they got that forgiven. Its a double standard.
In some states (probably most states) driver licenses are suspended in case of an uninsured accident. In Oregon (the last I knew), driver licenses are suspended for 1 year for an uninsured accident. Then a special high fee has to be paid to reinstate the driver license. I remember when in Washington state, 1 out of 4 drivers were driving with suspended licenses. I also had insurance agents (such as with State Farm Insurance) tell me that they knew that at least 40% of drivers were driving without insurance.
10 years from now?
yeah 90% of us probably won't here 😅
sit back, gwab yo popcorn and enjoy the show that luming in the horizon.
🤣
Relocated to Thailand 🇹🇭 for retirement. 1/3 the cost of Los Angeles. Looking at my country go down in flames. So sad.
FJBFJB FJB FJB FJBFJB FJB FJB
The most important financial lesson I learned after going broke. - If you don’t pay big business, - They try to destroy you. - But, if the small local businesses know that you tried your best. - They will forgive you, - and give you the chance to recover. - Huge Corporations seek revenge, - Some of the other little guys who know your character will help you back up. - Especially if they know you gave them higher priority with your last efforts.
In italy you must repay in full your credit card bill everymonth
The slow burn Down, it’s all a big scam