Not only are they paying more for there employees but also they pay more to get there products there on a semi truck gas/diesel prices went up so there distribution prices went up to the rates went up to distribute products across the board because the democrats shut down oil and gas want electric its more expensive for everyone
Wondering if you or anyone else can figure out the actual unemployment rate? In early August; I believe they said we ticked up to 4.3%. Then a week later the Labor Department said there were 812,000 fewer jobs created in 2024 than they had thought. What I found odd when they released the 812,000 miss was that they didn't revise the unemployment number higher. Wouldn't it have to be quite a bit higher than the 4.3% released the previous week? So I'm wondering what the true unemplyment actually is and if they will release a new one Friday that will be a big jump higher than the previous 4.3%, so that it reflecst the 812,000 job miss.
It's sad how difficult things have become in this recessive economy. I was wondering how to utilize some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to protect my $80K-worth stock portfolio from decline, but haven't figured which way to go.
Very difficult indeed, but when the going gets tough, the tough gets going. You have to learn and handle finances properly. you should hire a CFP to help you diversify your assets to include ETFs/index funds/mutual funds and stocks of companies with consistent cash flows. Don't go for penny stocks.
Opting for a brokerage Adviser is currently the optimal approach for navigating the market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 300% since 2022
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
I just looked her up on the internet and found her webpage with her credentials. I wrote her an outlining my financial objectives and planned a call with her.
Someone said that it's time to be concerned when you start to see individuals shoplifting groceries rather than big-screen televisions, and i agree.it's a sign that things are getting tough. Prices are going up fast, but the government isn't telling us the truth. If they did, interest rates would be super high. Even with the market doing poorly, some people are still making a lot of money - over $365,000! I wish I could do that.
I completely agree! I've made over $1.7 million in three years by following a coach's advice. At first, I was hesitant and watched from the sidelines, trying to figure out when to start. Then my wife recommended a coach, and I decided to give it a try. I'm glad I did!
sure .He's known as a Glen Howard Chester '. One of the finest portfolio managers in the field also widely recognized. Just research the name. You’d find necessary details to work with
Googled his name and his website came up right away. It looks interesting so far. sent him a mail and also set up a call with him.Thanks for sharing truly!
As you should. We rarely eat out. I don’t enjoy the process of driving then waiting and waiting then eating then driving home. Throw a steak 🥩 in a pan and call it a day.
Indeed. My wife and I aren't in the shitter financially, but we eat at home mainly out of indignation. I refuse to spend $25 for crap food. It's ridiculous.
Today, I was leaving Walmart and the lady in front of me walked right out with a full shopping cart without paying. It seems to happen every time I go into a grocery store as well. This, in part, is why we are paying a lot more money for goods and services these days. I don't understand why this is being tolerated. Very annoying.
Maybe Walmart believes that the cashiers cost more than the items people steal. I doubt it but these big companies work in mysterious ways. Sometimes they can't come to the most obvious cocnclusions and other times there are deeper more shady reasons as to why this is happening. ( Maybe they get huge discounts if they buy larger quantities of goods and so they don't mind some of it being stolen)
I think it's a safety issue. The employees don't know if the thief has a gun or a knife and don't want to risk getting hurt. Stores don't want the lawsuits or to push their employees to refuse and quit. Also, even an armed security guard couldn't do anything until the person is OUT of the store at which point it's considered theft. Many times people have someone pull up in a car, they dump the stuff in and drive off before the police can even do anything or get there. (I know this because it was explained to me and my Mom literally in the early 2000s by Aldi's).
You’re earning the same amount of money you did 4 years ago? That’s on you man…things are expensive, yes. But I’ve out earned inflation just on salary increases and changes jobs and I’ve kept my fixed cost (same rent and car payment) the same since. Come on man…people have been complaining for years now at this point at which point will people shut up and get up off their ass and find a way to make more money!? I could’ve bought a new car, change apartments, kept up with the Joneses and be complaining like you guys about inflation, but instead I’ve traveled more, spent money on my health. Delayed my gratification…
I’m 68 and still working 2 part time jobs just to hold onto my house, meaning paying property taxes, insurance, water bills. My town can put a lien on your house if you don’t pay your water bill but they immediately shut the water off the first time you don’t pay. It’s insane. I told my son I’m not spending any money other than for absolute necessities. It’s scary.
Property taxes are killing people. The cities and counties are addicted to it, so it won't change anytime soon. When housing prices go down, they will just start raising taxes.
You are best to not have insurance when it comes to certain states. Then, when emergency are declared for big storms make a fema claim and get free money for everything that breaks or broken. People do this all the time......
My brother just bought a new fully loaded Silverado. I bought my parents lift chairs, because they're in bad shape. I asked him to help and he said not right now. I can't believe how greedy people are and how much they'll spend to be comfortable. I don't see it getting better. I try to stay debt free.
Why would you put him out there in a post like that? It was your choice to spend money on the parents. Everyone needs a dependable vehicle to earn a living. So for whatever reason you felt the need to throw your brother under the bus painting him as a bad person makes you look like the asshole.
@@michellebatzel5809 There's a difference between buying a vehicle and a "new" "fully loaded" expensive truck. Could've picked something cheaper and chip in.
People shoplifting is at an all time high. I was just at Ralph’s in Irvine Ca, a rich area and the worker said 3 people in the last 5 minutes didn’t pay at self checkout. She said it’s gone completely rampant. She looked completely dumbfounded by all the people stealing 😂. So many fake rich people.
These “rich” people now need to steal food in order to maintain their rich facade/lifestyle. If not, they can’t make their Escalade or Range Rover payment.
Time to stop cheaping out on cashiers and hire some security guards. It's not society's responsibility to guard merchandise. They are squeezing every penny of profits out of those stores.............. and it shows.
@sportsman4545 A quality clothing article , or a pair of shoes, is ALWAYS worth investing in. I have a pair of Alice + Olivia jeans that I had bought back in 2010. Still like new.
Friday we bought Nike track shoes and dinner out. They were nearly the same price. In the great depression a meal out was 5-40 cents per person. Shoes were 6$-12.50$ which was a fortune. I guess relatively speaking, we pay less for shoes, but food is astronomical.
This economy is wrecked. I’ve been unemployed since August 2023 and hold an MBA in managerial accounting. Submitted about 310 resumes. Had four interviews and landed no role. But see dozens and dozens of positions that say I qualify for but never hear any more from them come to find out them job postings are fake. Only for a recruiter to gather information to sell. Great video Michael.
I hardly ever buy clothes now. I bought a tweed jacket from a charity shop (thrift store) for £32 to replace one I bought a couple of years ago for £25. Even that was a bit of a 'luxury' purchase. But ten years ago when I worked in the corporate world I thought nothing of spending hundreds of pounds on tailor-made suits.
Retiring was one of the greatest cost reduction measures I’ve ever taken. I cook almost exclusively now, I buy very little, and when I travel I can pick super cheap destinations, days and times to travel. It’s been great.
70 years of STRUGGLE here. I am so tired of it. I was doing ok, but the globalists are now using AI to construct blocks to success and steal more money from those who struggle the most.
“What is driving this economy is people buying things they can’t afford” That is an excellent quote and so so true, Michael! The guys I work with are all completely maxed out on credit buying things that they can’t afford.
@@SomeUserNameBlahBlahyeah and on top of that alot of people barely qualify for credit cards or loans so we basically have no choice but to work and spend because we aren't able to save ...aint nothing left over to save with pbp
"PROOF People Are RUNNING OUT OF MONEY!" 1) Cannot run out something that does not exists. 2) People can NOT possibly pay for anything since August 1971 "Nixon Ends Convertibility of U.S. Dollars to Gold.." What that means? He suspends "Promise to Pay". So? Now you can create your own "Promise to pay" and if ever asked to "Pay", transfer whoever is Asking to US Treasury and Ask them when they going to actually pay? You peeps are sleeping and ignorant, so that's why you are out of fake "funds".. If you are the CREDITOR how can you be out of "Credit" ? Yeah, go figure.. I give you the hint already.
@@chriswright6447 ive got pics of the flags texas roadhouse trashes. Was on the roof doing some hvac work. They just throw them in one of the cubby holes thats on the roof. They dont do anything honorable with the US and state of Texas flag.
My family is enjoying more dinners at home in peace and quiet here at home instead of the usual loud and nasty people filled restaurants. Just finished a large batch of rice in our new Black and Decker rice cooker and have a crockpot cooking a bag of red beans and beef tips from a small local Butcher we found on FB. Got a ziplock bag of frozen cherry tomatoes and peppers out of our garden to add at about 1/2 way thru. The math comes to around $1.50 a meal per person for us. Would be a little cheaper if we got a whole chicken to butcher and add to the mix instead of the beef. Just trying to stay positive and stay ahead of the coming collapse..
My husband and I are long haul truck drivers together. We bought a $9.88 crockpot at Walmart and cook all kinds of wholesome organic meals in it. We also have a 40 qt. ICECO freezer in our truck as well as a Dutch oven and microwave. It is amazing what meals we can cook with organic canned/frozen vegetables and organic beef and chicken. We do not have a home as we work about 341 days a year. But, our semi has just about everything we need to live and work comfortably. It is amazing how little we need to live healthy, happy and comfortable lives. I guess, less really is more.😊
@@trixielatouche7180 That sounds awesome. So healthy, too. It would be so easy to just grab food on the road, but so unhealthy and much more expensive.
The reason why dollar stores such as Dollar General and Dollar Tree are seeing a drop in sales isn't so much because people are out of money but that people are tired of going into these stores and seeing items they bought the last time they were there half their size. These dollar stores have been busy de-contenting their merchandise the last several years to the point there is no reason for people to shop there, because based on these reductions in size and content their stuff is actually now more expensive than at regular stores.
@@boat6868 Well said. Over the last three years Dollar General has built thousands of stores in small towns, where there are no other retail options and prey on the locals with convenience store high prices because there is nowhere else to shop.
"America...just a nation of two hundred million used car salesmen with all the money we need to buy guns and no qualms about killing anybody else in the world who tries to make us uncomfortable” ― Hunter S. Thompson
I agree, putting back, the man that caused the struggles wont help at all. We did not hire Joe to just get rid of the pandemic so Trump could come back with another clean slate to ruin. He was the worst; we just want to move on from the chaos.
I’ll never understand why ppl in the U.S. did not revolt when politicians and lousy media started telling us it’s a service based economy in the 90s .. no middle class without manufacturing now done elsewhere
I wondered that if we’re now servicing others, who could that be? Cause it wouldn’t be us normal folk servicing each other. It would be us servicing the rich. And, look at where we are now. Working to not lose the roofs over our heads while a small group of elites have become obscenely wealthy.
It's a level worse than people buying things they can't afford. Personal storage rental is one of the fastest growing businesses in the US. Look around any area and you'll see storage rentals popping up all over. People have to rent storage space to stash all the things they buy with money they don't have to impress people they don't like. And then they eventually abandon the stuff. It's nuts.
That's what happens when houses are no longer affordable, people rent rooms or live in human filing cabinets, either embrace minimalism or have a storage unit full of family heirlooms you're saving for the kids you'll never have...
@@user-xg6zz8qs3qIt's better if most people are able to afford homes if they want one but that has not been the case in 4 years. Notice I said MOST. Having a % of people rent is good for the economy,
That is themselves and that is the product of your federal public school system and the system in general! color/tell us something we don’t know please
I went to pick up a few things at the supermarket today and realized that manufacturers are charging more and producing less in some of the products they sell. One example is hot dog rolls, they are making them smaller and charging more for them. They really think people don't notice things like this.
I was supposed to do door work years ago and I remember about five years ago I put it off you could go to Home Depot and buy so much door and frame hardware so then I went back five years later with money to do the job and the limited selection was so ridiculous I did not even finish the job you would think there would be more products and more suppliers after five years and they actually took away and made you limited some stuff wasn’t even available no more
No matter who gets into office, we've been on a collision course for a long time. Our way of life is doing to change a lot quicker than most are ready for. I don't know how we get out of the situation we're in
I have read over a hundred books on all this stuff. I trade the markets daily. I agree with you. Folks aren't ready for what is coming. I have told all my kids that our house is always here for them and don't feel bad if you need to move back in.
@@BLUESKYS4EVE because people are morons. Im selling my car because I realized, I dont leave town most of the time and its only 4x4 miles. Its cheaper and better for your health to just bike around town. Winter might suck but in all reality its not if you got the right clothes. If you think about it, get a really nice bike or a power assist bike for 1k, 500 for good winter gear, and after a month or two of no car payments, car insurance, gas, and maintence, it will pay for itself. I get some places are massive and would be suicide to try to ride a bike there but at this point, everything costs soo much.
@@doordash-m5k People could live in cities and towns if the present governments of those places didn't coddle criminals. I don't even visit cities and large towns and certainly would never consider living there. So most of us will continue to live in the suburbs and drive up to thirty miles to a town to buy necessaries.
problem is, without excess consumption, the american economy would fail. Its designed on over consumption and every expanding having kids. Now that kid making is way down, social security is about to take a dump along with medicare because when that system was started, you had 8-10 people paying for the person in front of them, now its 1.65. thats why in 2017 they spend more than they take in via taxes. And no its not because they robbed ss trust. That was some weird wives tale. Every dollar they take, they replace it with a bond that pays interest but, with interest being near 0 for 14 years, those bonds didnt pay much.
I miss California. Grew up in Northern California, now live in South Florida. I miss those mountains, but the cost of living, taxes, crime and government invasion of your private rights is no longer worth living there
I know we are cutting back. I have lived through 5 recessions in my adult life, and I can see where we are heading (no matter WHAT the govt figures say - before they are revised downward). We are in prep mode. I believe we entered recession around the third week in July, but recessions often start quietly. It'll get worse before it gets better. 😢 Keep up the good work, Michael. People need the information. Knowledge is power.
@@MrSteeDoo it doesn't effect me I'm prepared with no debt and I can afford my cost of living,so I have to pay more like most every one else but keep it small.....that's the fact jack.... living below your means should be people's goal,not a mountain of debt and no money for nothing,I could not live like that,I have a conscience there is a recession because of too much debt, equals very high inflation...yep 👍
I'm also getting the sense that it's a controlled demolition and the economy is in an unofficial recession. All this talk of "soft landing" and interest rates makes me think that it's only a matter of time until shit hits the fan and the data coming out can no longer be manipulated and bottled up
Recently it seemed to me that inflation was moderating a little but this weekend I went to the grocery store and I was shocked to see that several items seemed to have gone up quite a bit in price seemingly in the past week. I am single and make pretty good money but I don't know how the average income family with a couple of kids are making it , I think things are really going to crack soon if things don't change for the better.
I love this channel because Michael gives it to you straight. Even if it’s always bad news, better to know what is going on than not. This way we can hopefully adjust to what is happening. Thanks for all The Great Videos!
I've been at my part time job coming up on 5 years. Five days a week, 3 hours a day in the afternoon. 5:50 100% non stop attendance, which doesn't get me much. No vacation or anything else. But I'm happy to be working.
Michael Bordenaro tells it like it is. I really enjoy your walkabouts and the beautiful scenery, always great information with a fresh perspective. It's a high point of my TH-cam viewing. Kind regards from New Orleans. :-)
No longer going out to eat dinner (could afford it if I wanted too) but I’m tired of paying inflated prices for simple things like chix parm, burgers etc. $4.00 for a 12oz coke in a glass please!!! I’m doin only 1x week breakfast at local family owned little joint. Walked out completely full this morning for $21.50 for wife and I (New Jersey). No rush, no pressure & great food… I love to cook went out for dinners as a change of pace. NO LONGER
A "consumer economy" was always destined to fail (coupled with a pure fiat currency). If you don't mine it, manufacture it, or grow it- you aren't bringing NEW WEALTH into the world. I really enjoy your videos Michael, keep putting the truth out there!
The elite haven't invested their money into building any manufacturing plants in this country since the 80s. That's what a dream I had told me. I had a dream that the us. Was a steamboat casino with Americam flag banister decorations. But inside everything was old, it had not been invested in since the 80s. The boat was slowly taking on water, then sank with lightning speed. The boat only sunk has way though allowing ppl to climb up and out. A gold hotel across the street was China, it had recently been invested in but owed more money than we did and was asking Americans to pay, but we did not have money to pay what we owed.
Something positive for a change: Your recent video about having a side hustle resonated with me. Having something to fall back on and having some extra money come in besides your regular job should be a priority. My decades of skills of repairing model trains has just become a promising lucrative side hustle. Getting paid to do what you love may actually happen. Just thought I should post a good news post, now let's get back to the gloom and doom.
@AmericanConstellation Yep, it is almost palpable, this rising pressure of something about to blow up. Don't know what, when or how, but something big is about to happen. I see it on people's faces and feel it in the air. God help us all.
I can tell you this: I'm a white male Army veteran (Major). I worked for 5 major corporations as senior mgr. positions. I went to Iraq and Afghan as a contractor for 8 years. Upon my return I tried to find a job with no success, Not one interview, I have a Masters in BA. So I have given up and retired.
Both of you need to go to the Philippines Subic Bay You can live like a king for 730 dollars luxury apartments outside the base..plenty of expats that use to be in the same predicament are now living life-
So sorry to hear that. I was 62 and out of work. Could not find a job. Made it to the end of the interviews and then they figured out my age. Ghosted. So I decided to retire as well. Wasn’t planning on it for sure.
Amen, I am a retired Commander, USNA grad with a Masters. No interviews....nothing. Home Depot hired me part time and I am happy to get it because a hundred people probably tried for that position. Start next week.
I took my wife to a cafe style restaurant for lunch today. Fish and Chips and a $22. hamburger. The bill with a glass of wine each and tip $90. For lunch? Geez!
The prices are slightly high where you went, but yes, I'm in Houston and it's the same here. It's not really sustainable for most. People will go out less.
It's not necessarily greed - food and labor costs for businesses have gone up tremendously, too. We eat out as seldom as possible- and only with people we really like!
I always felt it was arrogant of trust funders to brag about never borrowing money. Lucky for you. The rest of us have student loans, car notes, insurance, rent and the like to pay. Lucky for you. Now get a hobby and stop annoying the regular people.
@@thomasallen6980 a person is the captain of there financial world,live below your means to live, simple a man makes his own luck by having intelligence...
I am so frugal right now, that I am cutting open my Aveeno lotion bottles to get about 1/4 of the product that wouldn't pump out. Doing everything, just to save some coin.💰💶👑
Anyone else here from Vegas???? Im just not seeing the economic distress. Restaurants, stores, streets, the strip, downtown….all packed. Have to wait in line everywhere. FedEx, UPS, and Amazon trucks very very active. I’m just not seeing it here yet. Everything is much more expensive but people are spending.
Same here in Texas. I see more rich than poor. I keep seeing/watching all these videos like this one and I just don’t see it. The area I live is always crazy busy. The mall, the restaurants, the new homes being built. Grocery stores are always crazy busy. It’s like nobody works around here and all they do is shop.
You leave the basic science out of this that is why we dump them down in Spiro Public schools system so they can’t even realize what you just said is so basic it’s ridiculous
Michael, job postings? Your right, ghost jobs. They should be illegal. I'm a qualified TV transmitter engineer but can only get a part time job at a Dollar General store. This is pitiful. Keep up your good work!
Dollar General is no longer cheap, that’s why their sales have fallen And the price posted is bogus at the register usually higher if you don’t check, speaking from experience.
Last night , my husband and I went to buy an item that someone posted on FB marketplace. Well, she was pretty chatty so we got to talking. She said that she’s retired living on social security, and trying to sell stuff on FB , because she’s worried she won’t be able to pay all her bills. She said she recently got a room mate too for the same reason. She said she had a whole shed full of tools and other things, and asked if we’d be interested in buying anything else. She said she’d been trying to sell things on FB , but kept having to deal with some crummy people , and she said someone tried to scam her with Zelle.
I meet people in a public place. I never let them come to my house. I did years ago when selling some furniture, but in the garage, not inside my house.
I'm retired. I do know people, younger people that are now looking for work again. I also know people my age, in their 60's that are looking for work. WTF?
Few people actually prepare for retirement. I worked in a job where I was fortunate enough to have a pension and was able to retire young. But, my coworkers who had the same opportunities I did are working another decade or more.
I dont know who I feel more sorry for, the boomers who worked to retire and think they'll get to enjoy it or the z'ers who will work to never retire. As a millennial I got to work and enjoy little bit of both. Those days are over now. We will all look back on previous years as the good times as they progressively get worse. Oh well, maybe people will wake up.
Hallelujah 🙌🏻!!!!! The daily jesus devotional has been a huge part of my transformation, God is good 🙌🏻🙌🏻. I was owing a loan of $49,000 to the bank for my son's brain surgery, Now I'm no longer in debt after I invested $11,000 and got my payout of $290,500 every month…God bless Mrs Susan Jane Christy ❤️
I just paid the last of my credit card debt Thursday. I’m never going back! Also refinancing my car loan with the same amount of years and lower payments because I’ve greatly improved my credit score since the end of 2022.
You are one of the clearsest person to tell us like it is , as a person who understand economy, I love how neat your voice sounds to most people. Excelent way to describe how everything is going around us, keep on going and thanks for what you do to inform .
The fallacy about consumer spending is that it is going up because COSTS are high due to inflation. If they looked at the items bought with inflation adjusted dollars, they would see that consumers are spending less! Consumer confidence is tanking!
Americans moving from this state to that state, trying to survive. What does that tell us? America is no longer the greatest country in the world. Homeless everywhere. The "value" of the dollar is GONE.
Attacking grocery stores (who operate at razor thin margins) for price gouging is the ultimate virtual signaling. If she was serious about price gouging, she'd go after pharma and the medical industry first.
How about we quit treating politicians like members of the royal family? How about no more jets for their travel? How about they pay for their food and health care?
The difference between this recession versus the recession in 08’ is rent is unaffordable so everyone should brace themselves will be much worse than 08’
Economist are puzzled at how consumer spending is still up. It's not hard to understand when you factor in illegal housing, food, laundry and transportation around the country. The government pushes money into the economy In a lot of ways. When they stop, the dance is over.
Exactly. Even "inflation adjusted" numbers do not tell the true story when they claim 3% inflation but the actual true cost is 10% higher than a year prior. Most in depth financials of public companies, you can see the same store sales from prior year actually on a decline even tho the overall revenue is higher YoY.
If you haven't adjusted your 401K's or your investment portfolios, now would be the time to reduce risk exposure. Everyone thinks the lowering of interest rates will get the stock market rolling however history tells us otherwise. In fact, since 1970 the first rate cut has led to a 20% decline in the S&P 500 index more than half the time. Furthermore, we've had an inverted yield curve for months now. An inverted yield curb has been a harbinger of a recession in nine out of 10 instances over the last 70 years. I am focused on value-oriented, recession proof stocks right now and bolstering cash reserves. Good luck all and thank you Mike....I enjoy your videos. Work hard, Stay humble. BTW, how about some videos in Alaska ;-)
@@markw.8455just like the jobs numbers were adjusted right… 😂 why’d they have to say they were a million jobs off? Inflation is double digits, gold and silvers rally this year are telling you this.
@shanejones578 Right about the million loss in the jobs numbers--a glaring miscalculation. The gold/silver markets are largely speculative. Can't blame people for buying...
I used to able to save $25k-$30k easily. Now I struggle to keep $10k in savings and I don't unnecessarily spend. It's just the increase in costs and hours cut at work.
@@weatherlou If he lost his job ........... he probably doesn't have much of a choice to buy necessities with credit ............ especially if they have no savings and were living check to check ..........
Most people I know aren’t using their credit card’s because they want to but, because after major bills are paid by pay checks There’s not much left for food, necessities or repairs. It’s scary.
Michael, I have been in retail for 45 years. I noticed the recession started in 2019 when I went to my previous place of employment, Nordstrom during their Anniversary Sale, the store at The Galleria in Riverside, California was dead. Then the plandemic happened, they closed that store by the end of 2020. That store was going downhill since 2012.
Very beautiful there Michael, thanks for sharing the beauty in California. Love when you show us the Golden Gate Bridge. Good you are staying through November, because we are steaming here in FL, ugh!
@@nelitatanner2277 you’re very welcome! I’ve been watching the weather in Miami and I can see. I’m definitely not missing it. Another scorching year and hottest on record It seems for Miami.
I'm 62 when I was young we needed a lot less than people seem think they need today, People need to sit down have a real good think about what they really need.
68 years here from the Netherlands. You are right. But when someone is raised in an wealthy environment its difficult to gear down... I can see it with my own Kids...
Yea okay I don't buy this bs considering I see all my boomer neighbors with campers and 2.75% interest rates on their 200k homes. Outta here with that bs.
Went to Penney's with a friend as she was looking for a dress for her birthday / family reunion. It's been about three years since I was in Penney's and was rather saddened to see how messing the store was. Many racks of items on sale, clearance racks, yet the overall quality of the items seemed rather poor. She wasn't able to find a dress and we left. However I couldn't help but notice how few people were in the store. I remember when Penney's carried well priced, well made items - from linens to clothes and home goods. I wonder if it's just a matter of time before Penney's goes the way of Sears and Montgomery Wards.
The only thing that should have price controls is medicine, hospital visits, ambulance rides where consumers have no options, don’t know prices upfront, and the user doesn’t usually pay a 100% of the price. Diapram went from $13.50 to $750 a pill over night 9 years ago and today it is $789 a pill. The generic is a $123 a pill but it was $13.50 before the price increase. If there was a max price increase of 5% a year this wouldn’t happen. Drug prices are 77% lower where price controls are in effect. What should never have price controls is a commodity like food or gas with multiple suppliers and a competitive market for buyers.
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Not only are they paying more for there employees but also they pay more to get there products there on a semi truck gas/diesel prices went up so there distribution prices went up to the rates went up to distribute products across the board because the democrats shut down oil and gas want electric its more expensive for everyone
Wondering if you or anyone else can figure out the actual unemployment rate? In early August; I believe they said we ticked up to 4.3%. Then a week later the Labor Department said there were 812,000 fewer jobs created in 2024 than they had thought. What I found odd when they released the 812,000 miss was that they didn't revise the unemployment number higher. Wouldn't it have to be quite a bit higher than the 4.3% released the previous week? So I'm wondering what the true unemplyment actually is and if they will release a new one Friday that will be a big jump higher than the previous 4.3%, so that it reflecst the 812,000 job miss.
Did you ever think of speaking at a trump rally. You could really help and make sense compared to the other speakers.
If you want to see natural beauty and wonders, check out Vermont in the fall. Quite the scene.
@@josecastellanos8581 Joe Joe call 800 get a brain. We pumping more oil than ever read. A book. Please
It's sad how difficult things have become in this recessive economy. I was wondering how to utilize some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to protect my $80K-worth stock portfolio from decline, but haven't figured which way to go.
Very difficult indeed, but when the going gets tough, the tough gets going. You have to learn and handle finances properly. you should hire a CFP to help you diversify your assets to include ETFs/index funds/mutual funds and stocks of companies with consistent cash flows. Don't go for penny stocks.
Opting for a brokerage Adviser is currently the optimal approach for navigating the market, particularly for those nearing retirement. I've been consulting with a coach for a while, and my portfolio has surged by 300% since 2022
I could really use the expertise of this advisors.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
I just looked her up on the internet and found her webpage with her credentials. I wrote her an outlining my financial objectives and planned a call with her.
Someone said that it's time to be concerned when you start to see individuals shoplifting groceries rather than big-screen televisions, and i agree.it's a sign that things are getting tough. Prices are going up fast, but the government isn't telling us the truth. If they did, interest rates would be super high. Even with the market doing poorly, some people are still making a lot of money - over $365,000! I wish I could do that.
Very Likely in this weak market! Seasoned pros can capitalize on opportunities for excellent returns.
I completely agree! I've made over $1.7 million in three years by following a coach's advice. At first, I was hesitant and watched from the sidelines, trying to figure out when to start. Then my wife recommended a coach, and I decided to give it a try. I'm glad I did!
This is exactly how My spouse and i wish to get our finances coordinated ahead of retirement. Can I get access to your advisor?
sure .He's known as a Glen Howard Chester '. One of the finest portfolio managers in the field also widely recognized. Just research the name. You’d find necessary details to work with
Googled his name and his website came up right away. It looks interesting so far. sent him a mail and also set up a call with him.Thanks for sharing truly!
When a $10 lunch became a $23 lunch and when a $20 dinner became a $40 dinner I opted to cook at home.
I like scrambled eggs and peanut butter sandwiches. I can live very cheaply. People have to learn how to save money
Home cooked meals are all the rage.
As you should. We rarely eat out. I don’t enjoy the process of driving then waiting and waiting then eating then driving home. Throw a steak 🥩 in a pan and call it a day.
$40 dinner????
Indeed. My wife and I aren't in the shitter financially, but we eat at home mainly out of indignation. I refuse to spend $25 for crap food. It's ridiculous.
Today, I was leaving Walmart and the lady in front of me walked right out with a full shopping cart without paying. It seems to happen every time I go into a grocery store as well. This, in part, is why we are paying a lot more money for goods and services these days. I don't understand why this is being tolerated. Very annoying.
Maybe Walmart believes that the cashiers cost more than the items people steal. I doubt it but these big companies work in mysterious ways. Sometimes they can't come to the most obvious cocnclusions and other times there are deeper more shady reasons as to why this is happening. ( Maybe they get huge discounts if they buy larger quantities of goods and so they don't mind some of it being stolen)
I think it's a safety issue. The employees don't know if the thief has a gun or a knife and don't want to risk getting hurt. Stores don't want the lawsuits or to push their employees to refuse and quit. Also, even an armed security guard couldn't do anything until the person is OUT of the store at which point it's considered theft. Many times people have someone pull up in a car, they dump the stuff in and drive off before the police can even do anything or get there. (I know this because it was explained to me and my Mom literally in the early 2000s by Aldi's).
Welp!!!! When in Rome…….
You get what you vote for.
And what did you do about it? Nothing...
Cracks me up when they say, "inflation under control". The damage has been done. My income did not keep up and I'm still spending more for less.
Exactly. The fire (inflation) is out but the structure (personal savings and credit) are a pile of wet garbage. Hooray.
Exactly! Inflation is compounding!
It's lie the captain of the Titanic saying all is OK since we have separated from the iceberg.
People don't get inflation has to go negative, and by a lot to get back to where we were 5 years ago. LOL.
You’re earning the same amount of money you did 4 years ago? That’s on you man…things are expensive, yes. But I’ve out earned inflation just on salary increases and changes jobs and I’ve kept my fixed cost (same rent and car payment) the same since. Come on man…people have been complaining for years now at this point at which point will people shut up and get up off their ass and find a way to make more money!? I could’ve bought a new car, change apartments, kept up with the Joneses and be complaining like you guys about inflation, but instead I’ve traveled more, spent money on my health. Delayed my gratification…
I’m 68 and still working 2 part time jobs just to hold onto my house, meaning paying property taxes, insurance, water bills. My town can put a lien on your house if you don’t pay your water bill but they immediately shut the water off the first time you don’t pay. It’s insane. I told my son I’m not spending any money other than for absolute necessities. It’s scary.
Property taxes are killing people. The cities and counties are addicted to it, so it won't change anytime soon. When housing prices go down, they will just start raising taxes.
@@ThunderStruck94660it’s frightening that we are at their mercy. One never fully owns their home and that’s sad.
@@bluebird4750 You are not wrong.
You are best to not have insurance when it comes to certain states. Then, when emergency are declared for big storms make a fema claim and get free money for everything that breaks or broken. People do this all the time......
But I thought that “owning a house is better than renting”. You don’t own shit in this life. Miss payments and see if it’s still yours indeed.
My brother just bought a new fully loaded Silverado. I bought my parents lift chairs, because they're in bad shape. I asked him to help and he said not right now. I can't believe how greedy people are and how much they'll spend to be comfortable. I don't see it getting better. I try to stay debt free.
Your a good person, brother not so much.
Maybe your parents don't deserve it. Families are usually abusive.
Why would you put him out there in a post like that? It was your choice to spend money on the parents. Everyone needs a dependable vehicle to earn a living. So for whatever reason you felt the need to throw your brother under the bus painting him as a bad person makes you look like the asshole.
@@michellebatzel5809 There's a difference between buying a vehicle and a "new" "fully loaded" expensive truck. Could've picked something cheaper and chip in.
You don’t need a luxury truck when your parents need help.
People shoplifting is at an all time high. I was just at Ralph’s in Irvine Ca, a rich area and the worker said 3 people in the last 5 minutes didn’t pay at self checkout. She said it’s gone completely rampant. She looked completely dumbfounded by all the people stealing 😂. So many fake rich people.
what was in those shots?
These “rich” people now need to steal food in order to maintain their rich facade/lifestyle. If not, they can’t make their Escalade or Range Rover payment.
Time to stop cheaping out on cashiers and hire some security guards. It's not society's responsibility to guard merchandise. They are squeezing every penny of profits out of those stores.............. and it shows.
@@thomasallen6980well we could see the end of self checkout since it’s so easy to steal
Americans are replacing “ become” with “ go”.
I stopped eating out years ago. Restaurants are going down. And hard.
Quality is so down the hill
Just like I consider not paying $130 for new pants, I consider not paying $130 for dinner out.
Yep i believe it. My generation gen Z doesn't give a f about restaurants. I'd hate to be in that business right now and into the future.
@sportsman4545 A quality clothing article , or a pair of shoes, is ALWAYS worth investing in. I have a pair of Alice + Olivia jeans that I had bought back in 2010. Still like new.
Friday we bought Nike track shoes and dinner out. They were nearly the same price. In the great depression a meal out was 5-40 cents per person. Shoes were 6$-12.50$ which was a fortune.
I guess relatively speaking, we pay less for shoes, but food is astronomical.
This economy is wrecked. I’ve been unemployed since August 2023 and hold an MBA in managerial accounting. Submitted about 310 resumes. Had four interviews and landed no role. But see dozens and dozens of positions that say I qualify for but never hear any more from them come to find out them job postings are fake. Only for a recruiter to gather information to sell. Great video Michael.
It seems like you have to know someone at the company to get an interview these days.
Dumb down your resume, they don't need the MBA.
Thanks for posting this.
Have you tried temp agencies as a way to get your foot in the door?
I keep hearing this same thing. It must be getting bad.
Im not buying anything anymore. I dont buy anything other than food, housing expenses and work related stuff.
That's all your able to purchase anyway.
@@Craig121000that was rude!
You ain't seen nothing yet. 😁
@@Craig121000 you are so ignorant. People with money don't waste it.
I hardly ever buy clothes now. I bought a tweed jacket from a charity shop (thrift store) for £32 to replace one I bought a couple of years ago for £25. Even that was a bit of a 'luxury' purchase. But ten years ago when I worked in the corporate world I thought nothing of spending hundreds of pounds on tailor-made suits.
Retiring was one of the greatest cost reduction measures I’ve ever taken. I cook almost exclusively now, I buy very little, and when I travel I can pick super cheap destinations, days and times to travel. It’s been great.
Wow interesting way to look at it
@cato451 Could do all that while working as well.
@@richardjohnson8114 True...few people do though.
@@richardjohnson8114Not really, to do all that one needs *time*
Cooking for yourself will soon be considered archaic and soon be illegal
The struggle is so tiresome.
70 years of STRUGGLE here. I am so tired of it. I was doing ok, but the globalists are now using AI to construct blocks to success and steal more money from those who struggle the most.
That is life under Democan't communism.
“What is driving this economy is people buying things they can’t afford”
That is an excellent quote and so so true, Michael!
The guys I work with are all completely maxed out on credit buying things that they can’t afford.
How are people spending if they don't have money? Credit cards have a limit, and we've been hearing this same story for years now.
They’re not spending it with their money. They’re spending it with the credit card.
@@mwmurrell that's right, you can't spend what is not yours,that's not financially smart, only to owe...it will be worse...
@@SomeUserNameBlahBlahyeah and on top of that alot of people barely qualify for credit cards or loans so we basically have no choice but to work and spend because we aren't able to save ...aint nothing left over to save with pbp
That is the way it has been for a long time. Oh no! Are we going to have a correction?
Yeah. People are spending, but not paying.
@@CC-nq7mp till it all stops suddenly
Blacks and illegal immigrants mostly. The cameras don’t lie.
"PROOF People Are RUNNING OUT OF MONEY!" 1) Cannot run out something that does not exists. 2) People can NOT possibly pay for anything since August 1971 "Nixon Ends Convertibility of U.S. Dollars to Gold.." What that means? He suspends "Promise to Pay". So? Now you can create your own "Promise to pay" and if ever asked to "Pay", transfer whoever is Asking to US Treasury and Ask them when they going to actually pay? You peeps are sleeping and ignorant, so that's why you are out of fake "funds".. If you are the CREDITOR how can you be out of "Credit" ? Yeah, go figure.. I give you the hint already.
No wonder you're gonna pay for it for them Guaranteed.
@@Glide-vd5weIt’s certainly an F’ed up system where responsible people are punished for the ones that are irresponsible.
Eating out is ridiculous now
That not what she said.
I haven't bought fast food in 6 months without a serious coupon, Bogo, etc
Texas Roadhouse is still very reasonable. The steaks are decent quality and service is good. They are packed everywhere you go.
@@chriswright6447 ive got pics of the flags texas roadhouse trashes. Was on the roof doing some hvac work. They just throw them in one of the cubby holes thats on the roof. They dont do anything honorable with the US and state of Texas flag.
The grocery store isn’t that much better
My family is enjoying more dinners at home in peace and quiet here at home instead of the usual loud and nasty people filled restaurants. Just finished a large batch of rice in our new Black and Decker rice cooker and have a crockpot cooking a bag of red beans and beef tips from a small local Butcher we found on FB. Got a ziplock bag of frozen cherry tomatoes and peppers out of our garden to add at about 1/2 way thru. The math comes to around $1.50 a meal per person for us. Would be a little cheaper if we got a whole chicken to butcher and add to the mix instead of the beef. Just trying to stay positive and stay ahead of the coming collapse..
That's excellent. And more memorable to have these family dinners.
Sounds yummy. You can buy the meats you want, cook it how you like and season it how you like. And lots of leftovers for other meals. 👍
My husband and I are long haul truck drivers together. We bought a $9.88 crockpot at Walmart and cook all kinds of wholesome organic meals in it. We also have a 40 qt. ICECO freezer in our truck as well as a Dutch oven and microwave. It is amazing what meals we can cook with organic canned/frozen vegetables and organic beef and chicken. We do not have a home as we work about 341 days a year. But, our semi has just about everything we need to live and work comfortably. It is amazing how little we need to live healthy, happy and comfortable lives. I guess, less really is more.😊
@@trixielatouche7180 That sounds awesome. So healthy, too. It would be so easy to just grab food on the road, but so unhealthy and much more expensive.
That meal sounds delicious
The reason why dollar stores such as Dollar General and Dollar Tree are seeing a drop in sales isn't so much because people are out of money but that people are tired of going into these stores and seeing items they bought the last time they were there half their size. These dollar stores have been busy de-contenting their merchandise the last several years to the point there is no reason for people to shop there, because based on these reductions in size and content their stuff is actually now more expensive than at regular stores.
I dont go in those stores, Just junk tossed everywhere. Not a fun day. It's not.
@@thomasallen6980 You are absolutely right, particularly Dollar Tree stores which are like shopping in a third world country.
I agree, particularly Dollar General. I view them as convenience stores not a discount store.
@@boat6868 Well said. Over the last three years Dollar General has built thousands of stores in small towns, where there are no other retail options and prey on the locals with convenience store high prices because there is nowhere else to shop.
Usually I walk in, see how long the line is,and turn around.
Like the quote in the movie..."The United States isn't a country, it's a business"
Led Zeppelin songs
Absolutely Correct
That is right b/c it's a corporation.
"America...just a nation of two hundred million used car salesmen with all the money we need to buy guns and no qualms about killing anybody else in the world who tries to make us uncomfortable”
― Hunter S. Thompson
Yes and if you can’t run it efficiently it should go out of business.
The American citizens are struggling!
Some
I agree, putting back, the man that caused the struggles wont help at all. We did not hire Joe to just get rid of the pandemic so Trump could come back with another clean slate to ruin. He was the worst; we just want to move on from the chaos.
@thomasallen6980 Joe's gone, and Kamela is here, or didn't you notice? Really, how could you notice since he's never around?
But the fact is inflation is coming down healthy
Weimar 2.0
I’ll never understand why ppl in the U.S. did not revolt when politicians and lousy media started telling us it’s a service based economy in the 90s .. no middle class without manufacturing now done elsewhere
People are too broke to demonstrate. People can’t afford the time off work, debt has people by the balls.
Most of your fellow citizens have no problem with you losing your job because they want that Chinese toaster for $8.
@@MrSteeDoo that costs $29 now
I thought the same.
I wondered that if we’re now servicing others, who could that be? Cause it wouldn’t be us normal folk servicing each other. It would be us servicing the rich. And, look at where we are now. Working to not lose the roofs over our heads while a small group of elites have become obscenely wealthy.
It's a level worse than people buying things they can't afford. Personal storage rental is one of the fastest growing businesses in the US. Look around any area and you'll see storage rentals popping up all over. People have to rent storage space to stash all the things they buy with money they don't have to impress people they don't like. And then they eventually abandon the stuff. It's nuts.
...after paying months of storage rent.
That's what happens when houses are no longer affordable, people rent rooms or live in human filing cabinets, either embrace minimalism or have a storage unit full of family heirlooms you're saving for the kids you'll never have...
It’s relatively easy money.
1000% Corporations and foreign interests should not be buying houses to rent to Americans.
Air BNB and China to be more specific.
Is it better if domestic landlords buy houses to rent to Americans?
@@user-xg6zz8qs3qIt's better if most people are able to afford homes if they want one but that has not been the case in 4 years. Notice I said MOST. Having a % of people rent is good for the economy,
Exactly. It’s exactly why I disagree with Michael that grocery stores ARENT price gouging. They definitely are.
There's almost no individuals who build houses to give away so not sure what kind of place you think we've been living in since the beginning of time.
The government is perfectly happy with a population that lives month to month with literally no savings.
Yes, I wish people wouldn’t fall for it!
Maybe they should stop buying collectible comics and cards for thousands of dollars
Yes, because they want to control you and that’s easy if you are dependent upon them.
When will we officially start building a giant human scoopers to provide us with adequate sufficient nourishment called Soylent Green?
you need to find the banned ebook money's hidden magic even if it's the last thing you do in life
You leave the Kabbalah out of this
People buying what they can't afford to impress people they don't know.
With the money they don't have
That is themselves and that is the product of your federal public school system and the system in general! color/tell us something we don’t know please
Things are worse than they are revealing.
💯
Much worse; at that
💯
I went to pick up a few things at the supermarket today and realized that manufacturers are charging more and producing less in some of the products they sell. One example is hot dog rolls, they are making them smaller and charging more for them. They really think people don't notice things like this.
I was supposed to do door work years ago and I remember about five years ago I put it off you could go to Home Depot and buy so much door and frame hardware so then I went back five years later with money to do the job and the limited selection was so ridiculous I did not even finish the job you would think there would be more products and more suppliers after five years and they actually took away and made you limited some stuff wasn’t even available no more
No matter who gets into office, we've been on a collision course for a long time. Our way of life is doing to change a lot quicker than most are ready for. I don't know how we get out of the situation we're in
Bible, beans, bullets, bullion, band aids.
I have read over a hundred books on all this stuff. I trade the markets daily. I agree with you. Folks aren't ready for what is coming. I have told all my kids that our house is always here for them and don't feel bad if you need to move back in.
Vote your best interest and voice your displeasure with mail in ballots and machine counting
Politicians in Washington DC are working overtime to make laws that benefit the rich/corporations and undermine working Americans.
Promise you , they aren't helping the average USA "true" Citizens .
Always have been!
They never work overtime lol
For the record. DEMOCRATS are in charge now!!!!!
They are all bought and paid for. Anyone who has been a politician for decades is already in the good old boys club.
Millions of us aren't buying crap
But let’s be honest, millions more are.
Even the price of crap is out of this world.
@@BLUESKYS4EVE because people are morons. Im selling my car because I realized, I dont leave town most of the time and its only 4x4 miles. Its cheaper and better for your health to just bike around town. Winter might suck but in all reality its not if you got the right clothes. If you think about it, get a really nice bike or a power assist bike for 1k, 500 for good winter gear, and after a month or two of no car payments, car insurance, gas, and maintence, it will pay for itself. I get some places are massive and would be suicide to try to ride a bike there but at this point, everything costs soo much.
Credit card debt is at all-time highs, north of 1.1 trillion.
@@doordash-m5k People could live in cities and towns if the present governments of those places didn't coddle criminals. I don't even visit cities and large towns and certainly would never consider living there. So most of us will continue to live in the suburbs and drive up to thirty miles to a town to buy necessaries.
I find it pathetic, that we as humans think excess consumption is a good thing.
It’s called‘coveting.’ Old as time.
It’s human nature
I think sloth is a deadly sin.
problem is, without excess consumption, the american economy would fail. Its designed on over consumption and every expanding having kids. Now that kid making is way down, social security is about to take a dump along with medicare because when that system was started, you had 8-10 people paying for the person in front of them, now its 1.65. thats why in 2017 they spend more than they take in via taxes. And no its not because they robbed ss trust. That was some weird wives tale. Every dollar they take, they replace it with a bond that pays interest but, with interest being near 0 for 14 years, those bonds didnt pay much.
@@thomasallen6980 Gluttony, above is the sin that was talked about.
I miss California. Grew up in Northern California, now live in South Florida. I miss those mountains, but the cost of living, taxes, crime and government invasion of your private rights is no longer worth living there
Old lady here. Born in San Diego in the mid 40’s. The left thinking absolutely destroyed this once Golden State. 😞😞😞
Yeah it's becoming unlivable here unless you speak spanish
Your governor is famous for invading our private rights🤣
Cali sucks now. Many nice areas become dumps
@@tctctctctc-x7c” invading”?
I know we are cutting back. I have lived through 5 recessions in my adult life, and I can see where we are heading (no matter WHAT the govt figures say - before they are revised downward). We are in prep mode. I believe we entered recession around the third week in July, but recessions often start quietly. It'll get worse before it gets better. 😢
Keep up the good work, Michael. People need the information. Knowledge is power.
@@denisep.98 smart answer, living below your means will always save you 👍
How does the fact that there is a recession affect YOU?
@@MrSteeDoo it doesn't effect me I'm prepared with no debt and I can afford my cost of living,so I have to pay more like most every one else but keep it small.....that's the fact jack.... living below your means should be people's goal,not a mountain of debt and no money for nothing,I could not live like that,I have a conscience there is a recession because of too much debt, equals very high inflation...yep 👍
Thank you for commenting and supporting the channel Denise! You are so right!👍
I'm also getting the sense that it's a controlled demolition and the economy is in an unofficial recession. All this talk of "soft landing" and interest rates makes me think that it's only a matter of time until shit hits the fan and the data coming out can no longer be manipulated and bottled up
Recently it seemed to me that inflation was moderating a little but this weekend I went to the grocery store and I was shocked to see that several items seemed to have gone up quite a bit in price seemingly in the past week. I am single and make pretty good money but I don't know how the average income family with a couple of kids are making it , I think things are really going to crack soon if things don't change for the better.
I love this channel because Michael gives it to you straight.
Even if it’s always bad news, better to know what is going on than not. This way we can hopefully adjust to what is happening.
Thanks for all The Great Videos!
At Aldi today saw buyers from all walks of life. Went into Whole Foods yesterday, prices thru the roof.
That's always been the case with Aldi's vs. WF.
But it is a little bit healthier than the process commercial chemicalized GMO food at most major department stores nationwide call Kroger
I've been at my part time job coming up on 5 years. Five days a week, 3 hours a day in the afternoon. 5:50 100% non stop attendance, which doesn't get me much. No vacation or anything else. But I'm happy to be working.
You are a joyous soul, and you appreciate the small things in life.
Congratulations 😅
Michael Bordenaro tells it like it is. I really enjoy your walkabouts and the beautiful scenery, always great information with a fresh perspective. It's a high point of my TH-cam viewing. Kind regards from New Orleans. :-)
No longer going out to eat dinner (could afford it if I wanted too) but I’m tired of paying inflated prices for simple things like chix parm, burgers etc. $4.00 for a 12oz coke in a glass please!!! I’m doin only 1x week breakfast at local family owned little joint. Walked out completely full this morning for $21.50 for wife and I (New Jersey). No rush, no pressure & great food… I love to cook went out for dinners as a change of pace. NO LONGER
A "consumer economy" was always destined to fail (coupled with a pure fiat currency). If you don't mine it, manufacture it, or grow it- you aren't bringing NEW WEALTH into the world. I really enjoy your videos Michael, keep putting the truth out there!
The elite haven't invested their money into building any manufacturing plants in this country since the 80s. That's what a dream I had told me. I had a dream that the us. Was a steamboat casino with Americam flag banister decorations. But inside everything was old, it had not been invested in since the 80s. The boat was slowly taking on water, then sank with lightning speed. The boat only sunk has way though allowing ppl to climb up and out.
A gold hotel across the street was China, it had recently been invested in but owed more money than we did and was asking Americans to pay, but we did not have money to pay what we owed.
Did my budget today. Sh it. We are bleeding. 3 months of deficit. Got hit by some medical and home repair costs.
😢
Yep. Ive been telling ppl., you must track everything now. It's all.more expensive than you think.
Wait until you get a car repair bill. They don't let you walk out of those places unless it's 4 figures
@@scotland369 we lease 1 car. Bumper to bumper on the truck :) lucky there i guess.
They finally figured out Dollar General is a ripoff
They still have the best cost for Scotties tissue..1.25 ..The only thing I buy at the Dollar General. 🙂
I feel bad for the people who are only living on a social security check with no other income and didn't save any or enough money, scary times.
Something positive for a change: Your recent video about having a side hustle resonated with me. Having something to fall back on and having some extra money come in besides your regular job should be a priority. My decades of skills of repairing model trains has just become a promising lucrative side hustle. Getting paid to do what you love may actually happen. Just thought I should post a good news post, now let's get back to the gloom and doom.
I was out today. People do not look very happy. The next 5 months is going to be a disaster, watch, and that's just the beginning.
You are right
@AmericanConstellation
Yep, it is almost palpable, this rising pressure of something about to blow up.
Don't know what, when or how, but something big is about to happen. I see it on people's faces and feel it in the air. God help us all.
Agree, many are on edge
And I thought I was the only one who noticed the unhappy faces. Where have all the good times gone?
Of course they're not happy. The rubber band is stretched to the max, and its gonna snap any second now and sting everybody really hard.
I can tell you this: I'm a white male Army veteran (Major). I worked for 5 major corporations as senior mgr. positions. I went to Iraq and Afghan as a contractor for 8 years. Upon my return I tried to find a job with no success, Not one interview, I have a Masters in BA. So I have given up and retired.
I am also a retired White male. Do you feel it's racism, DEI, AA that has caused this?
Both of you need to go to the Philippines Subic Bay
You can live like a king for 730 dollars luxury apartments outside the base..plenty of expats that use to be in the same predicament are now living life-
So sorry to hear that. I was 62 and out of work. Could not find a job. Made it to the end of the interviews and then they figured out my age. Ghosted. So I decided to retire as well. Wasn’t planning on it for sure.
Amen, I am a retired Commander, USNA grad with a Masters. No interviews....nothing. Home Depot hired me part time and I am happy to get it because a hundred people probably tried for that position. Start next week.
Wishing you the best of luck! I’m enjoying early retirement. Wasn’t supposed to be not working but at least I’m OK financially.
I live in San Diego and love California
great content thanks
I took my wife to a cafe style restaurant for lunch today. Fish and Chips and a $22. hamburger. The bill with a glass of wine each and tip $90. For lunch? Geez!
Weren't the prices on the menu? So don't go out to eat.
@@tctctctctc-x7cagree 100%.
The prices are slightly high where you went, but yes, I'm in Houston and it's the same here. It's not really sustainable for most. People will go out less.
Ouch
It's not necessarily greed - food and labor costs for businesses have gone up tremendously, too. We eat out as seldom as possible- and only with people we really like!
Happy first of the month!
Borrowed money has been driving the economy for decades, the ship's starting to run aground pretty good now.
That was the purpose of the credit card was invented in 1970 prior to that you had to work you had to have cash you had to live within your means
I have no debt and would never buy something i could not afford ....save yourself and be debt free....
I have two cards left and I am debt free , 10k left
I always felt it was arrogant of trust funders to brag about never borrowing money. Lucky for you. The rest of us have student loans, car notes, insurance, rent and the like to pay. Lucky for you. Now get a hobby and stop annoying the regular people.
The only debt acceptable is home mortgage because most people can't buy it with cash. But being fully debt free is the best.
@@thomasallen6980 a person is the captain of there financial world,live below your means to live, simple a man makes his own luck by having intelligence...
@@LittleMopeHead I agree a mortgage most people need, largest bill on the table...
I am so frugal right now, that I am cutting open my Aveeno lotion bottles to get about 1/4 of the product that wouldn't pump out. Doing everything, just to save some coin.💰💶👑
Anyone else here from Vegas????
Im just not seeing the economic distress. Restaurants, stores, streets, the strip, downtown….all packed. Have to wait in line everywhere. FedEx, UPS, and Amazon trucks very very active. I’m just not seeing it here yet. Everything is much more expensive but people are spending.
Yep...same.
Same here in Texas. I see more rich than poor. I keep seeing/watching all these videos like this one and I just don’t see it. The area I live is always crazy busy. The mall, the restaurants, the new homes being built. Grocery stores are always crazy busy. It’s like nobody works around here and all they do is shop.
Living and drowning on credit.
People have less disposable income due to all the bills going up and absorbing all their disposable income.
This!!! I have PG&E in CA and last month my power bill was over $1,000! Highest ever in my life. And I’m not alone!
You leave the basic science out of this that is why we dump them down in Spiro Public schools system so they can’t even realize what you just said is so basic it’s ridiculous
It takes a lot to manage and look after Your Cash and to plan ahead so You allways have it.
It's called a tight budget....
@@andrewgleason586 Budgeting is a skill for sure
Harris would never had won enough delegates to get the Democrat nomination. This was fixed from the start!!!!
US Presidents are SELECTED by Globalists and not elected by Americans.
It sounds like you people are scared. LOL
Who else would have won? Given that there were no other candidates
Just like the way she passed the bar, made GA, got into the senate, became VP.
@BreeLove-x7w Don't be a drama queen.
Thank you Arch-Angel Michael. 🙏 Appreciate the video sir. 😎
Mike I've been watching your videos for a whilenow(years) . I appreciate that it had a less negative slant.
Michael, job postings? Your right, ghost jobs. They should be illegal. I'm a qualified TV transmitter engineer but can only get a part time job at a Dollar General store. This is pitiful. Keep up your good work!
Dollar General is no longer cheap, that’s why their sales have fallen And the price posted is bogus at the register usually higher if you don’t check, speaking from experience.
They do it deliberately; its a part of their operating model to cheat their customers!
Thank you to our host for this Sunday walk-around outdoor segment. Good advice you are giving
GDP, is up? Yeh, just like how we recently found out how they lied about the employment figures.
GDP IS UP BECAUSE RETAILERS SELLING LESS AT HIGHER PRICES😮😢
Yea it's up nominally not inflation adjusted.
Last night , my husband and I went to buy an item that someone posted on FB marketplace. Well, she was pretty chatty so we got to talking. She said that she’s retired living on social security, and trying to sell stuff on FB , because she’s worried she won’t be able to pay all her bills. She said she recently got a room mate too for the same reason. She said she had a whole shed full of tools and other things, and asked if we’d be interested in buying anything else. She said she’d been trying to sell things on FB , but kept having to deal with some crummy people , and she said someone tried to scam her with Zelle.
What is Zelle?
@@garyfrancis6193 A way to transfer money from one bank account to another.
People are overpaying for crap on Marketplace.
zelle is kind of like Venmo
I meet people in a public place. I never let them come to my house. I did years ago when selling some furniture, but in the garage, not inside my house.
What about the Kroger executive that just admitted to price gouging??
Corporate housing needs to be outlawed!
I'm retired. I do know people, younger people that are now looking for work again. I also know people my age, in their 60's that are looking for work. WTF?
Few people actually prepare for retirement. I worked in a job where I was fortunate enough to have a pension and was able to retire young. But, my coworkers who had the same opportunities I did are working another decade or more.
I dont know who I feel more sorry for, the boomers who worked to retire and think they'll get to enjoy it or the z'ers who will work to never retire. As a millennial I got to work and enjoy little bit of both. Those days are over now. We will all look back on previous years as the good times as they progressively get worse. Oh well, maybe people will wake up.
These MB videos are solid gold
Hallelujah 🙌🏻!!!!! The daily jesus devotional has been a huge part of my transformation, God is good 🙌🏻🙌🏻. I was owing a loan of $49,000 to the bank for my son's brain surgery, Now I'm no longer in debt after I invested $11,000 and got my payout of $290,500 every month…God bless Mrs Susan Jane Christy ❤️
Hello!! how do you make such monthly, I’m a born Christian and sometimes I feel so down of myself 😭 because of low finance but I still believe God
Thanks to my co-worker (Carson ) who suggested Ms Susan Jane Christy
After I raised up to 525k trading with her I bought a new House and a car here in the states🇺🇸🇺🇸 also paid for my son's surgery….Glory to God, shalom.
She's a licensed broker here in the states🇺🇸 and finance advisor.
Can I also do it??? My life is facing lots of challenges lately
I listen and enjoy seeing the locations also.
I just paid the last of my credit card debt Thursday. I’m never going back! Also refinancing my car loan with the same amount of years and lower payments because I’ve greatly improved my credit score since the end of 2022.
Paid off my cc a few months ago.
It feels SO GOOD
Good for you!!
You’ll be back! They alllllll come back!
@@GiacomoRavioli like back into debt?
That is awesome...you must feel so much relief
Happy September 1st! Beautiful views.
beautiful weather here in upstate n.y!
Michael love the
channel, never to fluffy of news but you keep it real!
You are one of the clearsest person to tell us like it is , as a person who understand economy, I love how neat your voice sounds to most people. Excelent way to describe how everything is going around us, keep on going and thanks for what you do to inform .
The fallacy about consumer spending is that it is going up because COSTS are high due to inflation. If they looked at the items bought with inflation adjusted dollars, they would see that consumers are spending less! Consumer confidence is tanking!
Americans moving from this state to that state, trying to survive. What does that tell us? America is no longer the greatest country in the world. Homeless everywhere. The "value" of the dollar is GONE.
People used to move for a job or to start a new life now they are moving simply to places they can afford to live
Attacking grocery stores (who operate at razor thin margins) for price gouging is the ultimate virtual signaling. If she was serious about price gouging, she'd go after pharma and the medical industry first.
How about we quit treating politicians like members of the royal family? How about no more jets for their travel? How about they pay for their food and health care?
This. Why hasn’t she done this now?
The difference between this recession versus the recession in 08’ is rent is unaffordable so everyone should brace themselves will be much worse than 08’
Way worse than 1645. Maunder minimum
Economist are puzzled at how consumer spending is still up. It's not hard to understand when you factor in illegal housing, food, laundry and transportation around the country. The government pushes money into the economy In a lot of ways. When they stop, the dance is over.
Corporations are making all time high profits and the CEOs are rich beyond belief. Modern serfdom.
Michael, I am no economist but could it be that the consumer spending is going up because everything just gets more expensive?
🎯
Reports should be inflation adjusted. Look for the reports that preface reports with "Real".
Yes. Higher total being spent on fewer goods sold.
You are correct Carine.👍
Exactly. Even "inflation adjusted" numbers do not tell the true story when they claim 3% inflation but the actual true cost is 10% higher than a year prior. Most in depth financials of public companies, you can see the same store sales from prior year actually on a decline even tho the overall revenue is higher YoY.
Avoid a Recession? Heck No, we are on the brink of a Depression.
If you haven't adjusted your 401K's or your investment portfolios, now would be the time to reduce risk exposure. Everyone thinks the lowering of interest rates will get the stock market rolling however history tells us otherwise. In fact, since 1970 the first rate cut has led to a 20% decline in the S&P 500 index more than half the time. Furthermore, we've had an inverted yield curve for months now. An inverted yield curb has been a harbinger of a recession in nine out of 10 instances over the last 70 years.
I am focused on value-oriented, recession proof stocks right now and bolstering cash reserves.
Good luck all and thank you Mike....I enjoy your videos. Work hard, Stay humble. BTW, how about some videos in Alaska ;-)
So beautiful, thank you for the videos
The GDP is not based on more sales, but higher inflation. Inflation is the edge of the cliff for all dying economies.
Inflation rate should be subtracted from GDP.
Hold on…we’re slipping off the slope.
GDP numbers are adjusted
for inflation...
You can look that up.
Bureau of Economic Analysis.
@@markw.8455just like the jobs numbers were adjusted right… 😂 why’d they have to say they were a million jobs off? Inflation is double digits, gold and silvers rally this year are telling you this.
@shanejones578
Right about the million loss
in the jobs numbers--a glaring
miscalculation. The gold/silver
markets are largely speculative.
Can't blame people for buying...
Living Life is so Costly,. It is so hard to enjoy experiences without going over budget. Food prices are ridiculous no matter how you try save.
STOP VOTING FOR THE DEMOCRATIC PARTY
What trail is that! Always looking for new trails out here!
I used to able to save $25k-$30k easily. Now I struggle to keep $10k in savings and I don't unnecessarily spend. It's just the increase in costs and hours cut at work.
My brother is spending on his credit cards quite a bit these days. He's declaring bankruptcy soon. Lost his job do to health issues.
And does he feel this is a sane and savvy move?
Car insurance is based on your credit rating.
Bankruptcy is awesome! Its worth it.
Help him out . instead of gloating
@@weatherlou If he lost his job ........... he probably doesn't have much of a choice to buy necessities with credit ............ especially if they have no savings and were living check to check ..........
Most people I know aren’t using their credit card’s because they want to but, because after major bills are paid by pay checks There’s not much left for food, necessities or repairs. It’s scary.
Michael, I have been in retail for 45 years. I noticed the recession started in 2019 when I went to my previous place of employment, Nordstrom during their Anniversary Sale, the store at The Galleria in Riverside, California was dead. Then the plandemic happened, they closed that store by the end of 2020. That store was going downhill since 2012.
Very beautiful there Michael, thanks for sharing the beauty in California. Love when you show us the Golden Gate Bridge. Good you are staying through November, because we are steaming here in FL, ugh!
@@nelitatanner2277 you’re very welcome! I’ve been watching the weather in Miami and I can see. I’m definitely not missing it. Another scorching year and hottest on record It seems for Miami.
You're right Michael!! Thanks for another great video.
My rent now is $1700 for a studio apartment !!‘
Come to Vancouver Canada . My nephew pays $2400.00 a months for a studio.
Is it about 2000 sq.ft?
The rents are ridiculous for dumps…literally dumps…
Union electrical apprentice here in San Antonio and it's humming right along trade jobs kick ass
I'm 62 when I was young we needed a lot less than people seem think they need today, People need to sit down have a real good think about what they really need.
68 years here from the Netherlands. You are right. But when someone is raised in an wealthy environment its difficult to gear down...
I can see it with my own Kids...
Yea okay I don't buy this bs considering I see all my boomer neighbors with campers and 2.75% interest rates on their 200k homes. Outta here with that bs.
Went to Penney's with a friend as she was looking for a dress for her birthday / family reunion. It's been about three years since I was in Penney's and was rather saddened to see how messing the store was. Many racks of items on sale, clearance racks, yet the overall quality of the items seemed rather poor.
She wasn't able to find a dress and we left. However I couldn't help but notice how few people were in the store.
I remember when Penney's carried well priced, well made items - from linens to clothes and home goods. I wonder if it's just a matter of time before Penney's goes the way of Sears and Montgomery Wards.
The only thing that should have price controls is medicine, hospital visits, ambulance rides where consumers have no options, don’t know prices upfront, and the user doesn’t usually pay a 100% of the price. Diapram went from $13.50 to $750 a pill over night 9 years ago and today it is $789 a pill. The generic is a $123 a pill but it was $13.50 before the price increase. If there was a max price increase of 5% a year this wouldn’t happen. Drug prices are 77% lower where price controls are in effect. What should never have price controls is a commodity like food or gas with multiple suppliers and a competitive market for buyers.