Відео

So true.

Thanks, hope it's helpful.

Thanks, I appreciate that. Hope it was helpful.

Thats a great idea. I think you're right, sometimes it is easier and faster to grasp visually. Thanks for the suggestion.

Very true, point taken. I was just trying to give an overall view of Real Estate as an asset class that seems to behave much like others assets in that it has bubbles, corrections, over-corrections etc. However you are correct to say, and I agree, that in all asset classes there are outliers. Some real estate does not drop much at all due to other factors, much like stocks, art, cars etc. However generally speaking over time charts show periods of market fluctuations, some greater than others and due to many factors as you pointed out. I personally believe that some areas in the US (for example) have already started to correct, some will correct soon, and others may hold their value and not correct at all. All that being said, the charts do show an unusual price increase over the last couple of years which incomes have not kept pace with, typically a recipe for correction.

It has been frustrating to see how many different ways they have tried to keep the housing market from crashing, all the programs to let people not pay their mortgage for almost 2 years was crazy. If we just let the free market run its course this correction would of happened a while ago. I agree with you but hang in there, I'm in the same boat.

Thanks for the video. Exactly the same situation in the UK. High volume of homes on the market, low number selling, mortgage rates back to normal levels. Banks offering crazy multiples of salaries to try to get people to buy overpriced homes, at the same time as mortgage defaults rising. Madness.

So you noticed it too? Glad to see people are better understanding what it is and what it isn't. Thanks for commenting! The feedback helps.

Great question, yes they do.

Thanks Jersey Girl, glad it was helpful.

Wow, thanks. Glad to hear it was helpful, I appreciate the feedback!

Awesome, the feedback is appreciated. Glad it was helpful.

Thanks I appreciate the feedback. If you can make the payments and eliminate your debt at 0%, I'd say you're winning 😀

my rebuttal to #5 is correct, watch this video which explains it: ua-cam.com/video/g0AbbKl-vj4/v-deo.html. , there are situations where it works.

Brokerage is close but not the same. One example is a margin loan with the brokerage requires an interest payment monthly, crypto loan does not.

Good question. A balance transfer does mean you are transferring the balance of credit card A to credit card B and typically the credit card company may do it for you or facilitate it. If you wanted to take money out of the card to use to pay off some other loan that would be considered a cash advance and it works very differently, usually there is a fee and typically it would not be 0% on the cash advance but you always check with your credit card company. I hope that helps.

Yep....it can make a big difference

Thanks ! I always wondered where the "buck stopped" haha great name. I appreciate you watching and commenting.

Thanks man, I appreciate it.

Well said.

Glad you enjoyed it, thanks!

12% ? That's generous. I appreciate the comment, and I have gotten many like this. I was simply making an observation that over the course of a year, IF gov't job salaries were paid from private sector job taxes THEN a 3 to 1 would not cover it. A question that I do not have an answer to, is "what percentage of jobs in the US can be government without tipping the scales, 10%, 20%, 50%, 80%?". I just wanted to make this video thought provoking. And by the way, I would give myself 13%, enough to know that if this entire system comes crashing down it's because someone somewhere decided they wanted to unwind some derivatives.

Thanks for viewing and commenting, welcome to the channel Amiel. Well summaried ;-)

Glad it was helpful!

Thanks ! I appreciate that. Great summary of the video.

Thanks, I appreciate that !

Yes another person pointed that out in a comment, so if we reduce the 9 to 1 to be 7 to 1 (to acct for taxes) the point is that if we need 7 to 1 to pay for a gov't job and in the last year the gov't job increase compared to private sector was 3 to 1, that is not unsustainable. [I think I just typed a major run on sentence..haha] I have no issue with defense spending, different issue. I appreciate your comment.

@@HackYourCreditCards but defense spending is where most of the government jobs are. Where would you cut from? Also it’s difficult to get elected in these narrow elections on a platform of cutting jobs unfortunately. Also the government has trillions in assets which nobody ever mentions

@@ahappyimago in 2022 114,000 fed employees retired, how about we start by firing no one and do not hire anyone for 1 year, that would eliminate 114,000 fed jobs and let's see what happens, I have a feeling everything would continue just fine. Bottom line, if you need 7 to 1 and you are at 3 to 1 you can't do it, it's impossible. Extreme example, we can't have 10 govt jobs for every 1 private sector job, not sustainable, there is a tipping point and that employment report showed that we just tipped in 2023. That was my only point.

And you are now my new best friend. Thanks for the kind words I greatly appreciate it.

I have heard that same scenario from many people. I have heard that from government employees and contractors, and many do not seem to do the same amount of work for the money that private sector employees do. There is also the case where government workers are undervalued and could make more in the private sector but I believe that is the exception and not the rule. All the ones I know are great people but I believe the government is inefficient, overpays, and have you ever heard about government employee layoffs or a government employee being fired? This year I read that 140,000+ tech workers were fired through August, how many government employees were fired? Few and far between.

@@HackYourCreditCards They do this to the government because they want to weaken our budget and increase the debt crisis. All of this money could be used for ship building, nuclear deterrence, infrastructure, etc. California especially is paying huge salaries to "equity" officers here in LA. Which is basically marxist garbage that has no real labor. They just take zoom calls. This is a huge crisis that many arent talking about. These fake jobs are creating wage inflation

Um, what job is he doing? Not even the president gets a paycheck a year that big.

Yup I hear this all the time.

Glad it was helpful. Take a look at this calculator, there is a video that goes with it. I use it all the time when I try to get the best value for points regardless of credit card. hackyourcreditcards.com/redeem

Good points. I should clarify that I consider contractors as part of the government workforce. Contracting out work is often a way to obscure the true number of government employees. I'm not suggesting we need zero government employees, but I do believe that the current proportion of government job growth relative to total job growth is too high. Government positions are funded by taxes (assuming no government debt or money printing). If the balance between public and private sector jobs is skewed, it becomes mathematically unsustainable. However, reducing the number of government jobs doesn’t necessarily require layoffs. For instance, in 2022 alone, over 100,000 federal employees retired. By simply freezing hiring for a year, the number of government positions could be significantly reduced without anyone losing their job. Referencing your 20% example, I would not advocate for a 20% reduction in spending; rather, I'm suggesting that the private sector should be the one to allocate that 20% instead of the government. The private sector generally allocates resources more efficiently, leading to better overall outcomes. I'd prefer to manage that 20% myself, rather than handing it over to the government, because when resources are used efficiently, we all benefit. My main point is that jobs that pay for themselves are an efficient use of resources, whereas government jobs, by their nature, are often less efficient. It also frustrates me that during economic downturns, private companies lay off workers, yet the government rarely reduces its workforce-but that's a discussion for another time. I appreciate the discussion.

@@HackYourCreditCards the notion that the private sector can more efficiently provide government services is a myth that you can easily scratch the surface on. Since the value ascribed to labor tends to be pretty consistent, it doesn't matter if a government worker performs a task over a contractor does. So it isn't cheaper there. And since the price of goods in the supply chain doesn't change significantly between government and the private sector (unless there is some legal requirement that those goods be made in the US, but that would be applied to the contractor as well as the government) the price of goods to perform a task is the same as well. So if labor is basically the same, and goods are basically the same, and the private sector has a requirement to make a profit from the engagement of labor and goods, how can the private sector perform the same task more efficiently? Safety cuts because they're deregulated. Is that a virtue, for labor? And it goes on like that. And we see this; budget overruns in private sector contracts for government are frequent; do you think that happens from some magical efficiency? It will never come, because it fundamentally can't. There is no structure through which it can emerge. Hence, myth.

@@KnightSwordAG My apologies, I did it again. I am obviously not making myself clear. I am not advocating the private sector performs government jobs. I am advocating less government jobs if we don't have enough private sector jobs to pay for them. That was the point of the video, extreme example --> if we have 10,000 new govt jobs every month and 1,000 new private sector jobs every month, assuming the taxes from the private sector jobs pay the gov't job salaries, then eventually it does not work.

@@HackYourCreditCards but you've not demonstrated that these are two correlated things. In the same way that the private sector employs to maximize profit, the government employs to maximize quality of service. Given that there has been a good deal of criticism regarding the quality of government services (justifiably) and that those deficiencies in quality can be positively correlated to budget cuts that led to staffing cuts (proportional to the needs of the American population) shouldn't the government make up the gap? And if those services aren't going to be passed over to the private sector, the work has to be done by someone, no? Or is the goal to reduce government service quality? Or just the volume that government services can accomplish?

@@KnightSwordAG So true, due to the substantial size and complexity of government spending I would never be able to create a 1 to 1 correlation between money going in, or printed, and money going out.

How please

I've been investing in Bitcoin by myself. I'm not really happy with what's going on, just few weeks ago I lost about $7,000 in a particular trade. Can you help me out or at least advise me on what to do?

I will advise you stop trading on your own if you keep losing. And i don't trade on my own anymore, I always required help and assistance

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I appreciate the comment, however I have honestly never had that happen myself and here is why. The banks have essentially 3 situations with credit cards (1) you don't use it and they make $0. (2) you use it and pay it off before they can charge interest, they make about 3% per transaction (3) you use it, don't pay it off and they charge you interest, ie 24%. If you are referencing situation (2) the bank still makes money. I have been using and paying off credit cards multiple times a month for many years and not only have they not lowered my credit, they have greatly increased it. The example you give is just someone making a payment, banks don't care, they expect you to pay it off eventually. The only reasons they lower credit is if you fall into some sort of a high risk category: job change, income change, etc. Did you have that happen to you, where you made a credit card payment and the bank lowered your credit limit?