It is a government inspired crisis this time. The Treasury have to sell Bonds to cover the trade imbalance and the government spending imbalance. In order to sell them they have to raise interest rates and the old long-term, low risk, low interest, AAA investments (including Treasury Bonds), held by the banks (often due to government regulatory policy), become next to worthless. The next milestone should be soon when the government issue a new batch of Bonds. I have a stagnant portfolio that needs growth. What is the best way to take advantage of this downturn?
Indeed, you are correct! But on the advantageous aspect, economic downturns offer numerous prospects for ordinary individuals to create wealth from the ground up. Nevertheless, seeking guidance from an investment planner might be necessary if you desire a more assertive return.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Patricia Annie Brooks
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I don't remember seeing Daniele DiMartino Booth looking so relaxed, natural, and comfortable within herself. She's definitely doing something right. She always speaks the truth.
love this format Danielle, very much feels like your wheelhouse, more info that you can tailor & tweak to the news of the day and wrap it around your depth of knowledge, wide diverse- feels customized on some levels . Thank you. Keep it up.
Absolutely amazing!! The best info I have ever seen to really help you understand where we are, how we got there and what is ahead for our economy and country!! Keep up the GREAT work!!!
Excellent dissertation/tutorial! Will you next tell us what we can expect when the "HANG OVER" from the consumer's spending binge hits? (Not to mention the outsized Government's pork spend, which I think is fairly represented by the economic activities of late '70's).
Danielle, there was a lot of reverb happening in this video. If not a one time glitch of the upload/recording and it persists you can reduce that by having more soft than hard surfaces around you. For 'studio' setup you could hang blankets off-camera right/left on rolling clothes racks/painting easels/chairs and an area rug that stretches out behind you.
I think her recording is very adequate and clear, not "studio" perfect or rigged blanket perfect is very acceptable. I think it contributes to her honest feeling. She's not a "UA-camr" trying to perfect her recordings for hits.
Because all you got was a little check. People are still getting mortgages subsidized. Companies got big handouts. People got paid more to sit at home than work.
Great video. Replacing people with automation at such a high quick rate will cause much more unemployment at the white collar level and reduce buying power. Blue collar are much less effected. Robot nurse is a long way to go..
Hello Danielle - I've been a fan/subscriber for quite sometime now and this was such a nice treat, but I wanted to add a few more things, with the topics being in this order: *1. Electric Vehicles and our Power Grid* and *2. Artificial Intelligence (A.I.)* 1. Electric Vehicles and our power grid - I've been in the car business since I was 19 years old (I'm now 27) and a lot of folks are trying to "save the world by going green" and there has been a big push with these electric vehicles, but what people don't understand is that our *POWER GRID can barely handle the stress/demand we already place on it* , but adding extreme weather + the demand of these electric vehicles...? NO - I'll be waiting for everyone and they mama to plug in their EV's all at the same time and the whole power grid goes "shooosh". I suggest folks watch "Leave the World behind" (2023) and "American Blackout - National Geographic" (2013) and "Grid down, power up" (2022) if y'all wanna know more about the power grid and/or see what happens when the grid fails and what these EV's will do to the grid! Earlier this year New York was having a horrible winter and you saw a bunch of abandoned electric vehicles and in the movie "leave the world behind" you also see a bunch of abandoned electric vehicles.....
I always love Danielle’s analysis. Just wondering why she doesn’t touch more on how most gov’t overspending goes to corporations and the richest among us and it’s expected to “flow down” (never does) to middle and lower class and has now created an elite Uber rich class of pple and most inflation/spending is caused by that. Why is the focus on the $1500 checks 4 yrs ago when middle class can barely buy groceries
Thank you Danielle for explaining why my former employer had massive layoffs. The Technology sector is laying off left and right while investing heavily in NVIDIA (AI.) My doctor told me today that a lot of his work will be replaced by AI it will just be a matter of time.
I love this information, BUT, the slide transitions are so distracting. Please just put up the charts and leave out all the moving transitions. And, the background music is unnecessary, too. They distract from what you're teaching us. Otherwise, great show. Looking forward to your next one. ❤
How about a deep dive on what it takes from where the US is right now, what missteps were already taken or planned, what mistakes are likely to be made, to push the US over the brink into hyperinflation. The very interesting read "when money dies" by Fergusson showed another country a hundred years ago but there have been many other small and not so small countries that have since succumbed to the momentary bliss of printing. Where is the US on that path tread by so many before?
DDB, is it fair to state that many of the topics you discuss here are, in part, based on the fact that we have a fiat system with unlimited money supply, which enables the US Congress to have ZERO considerstion for a balanced budget? If so, is a return to a sound money a possible solution? If not, why?
During the Covid pandemic when the gov was giving out stimi checks, that’s when I woke up. That is when I started buying precious metals, I knew we as a nation was heading down the path of higher inflation.
That 2% FED target was adopted by the FED from research that a PhD candidate had done in New Zealand! It was basically devised out of thin air by this PhD candidate who was hired by New Zealand's equivalent of the FEDERAL RESERVE. So, it started with Bernanke with the Fed's cheap money policy plus government spending due to the pandemic! CLASSIC Asset Class inflation since 2009? I've heard it said that over 65% of GDP generation is consumer spending! So, unlike past recessions, the personal savings rate is not going up to "cushion" the blow - but "any" potential savings is being spent on just keeping our heads above water with the higher cost of goods and services. The US government can't keep spending money it does not have = when foreign countries and US investors stop buying US Bonds = we will be in deep trouble! And the longer the yield curve stays inverted, the worst it's going to be when it all comes crashing down....
I didn't get 19 months of unemployment as I worked through the pandemic. I know many PPP Loan recipients who do not think they have to pay those Loans back. I can't tell you how many younger people have told me they plan to default on their Student Loans.
Dont forget our government spend on defense and Weaponry is more inflationary nkt just stimulus check to the people .. america had war constantly for many years iraq, Afghanistan, Africa, Vietnam war, Philippines war etc.
I think Economists are really over inflating of how those stimulus checks changed people's lives. Sure, if you're talking about business that stole from PPP loans, but thats not the majority.
Everyone including you Danielle parrot that there was no inflation post GFC. That is a ridiculous claim. That's when shrinkflation became the new way to hide it. In 2010, 10 snack size candy bars for $1. By 2019, it was 5 or 6 of the same candy bars for $1. That's 100% in 9 years. It was in everything. But what I can't believe is that nobody ever calls out the massive rise in home prices and rents during that period. It was grossly understated in the inflation numbers. I watched home prices triple in Northern California from 2012 to 2019!!! Inflation was real during all that QE and it was HOT!🔥
Always enjoy getting an update from you and cudos on being one of the few ppl who thinks things will get bad from these high rates. Things not looking so rosy in western variable rate countries.
So are you working from home now and does this change your personal consumption ? I would suggest not very much because you’re always in front of a camera.
This explanation of how we got the inflation was absolutely spot on. The only thing that wasn't quite driven home when comparing the direct checks to consumers vs the Fed doing QE attempting to get banks to lend more (and therefore consumers to borrow more) was When the Fed does QE, it buys assets from banks in exchange for reserves to increase the capacity of the banks to generate more loans. These reserves remain in the banking system. The loans the banks generate from the reserves have tied to them an asset, like a homes, AND most importantly and obligation for the loan to be paid back,.. upon which the money that was created out of thin air by the fractional reserve banking system,... goes back to the thin air from which it came. When the government sends checks directly to consumers,.. there's no asset attached,.. the money is largely used for expenses, like housing, food energy, entertainment, vacations, toys,.... and most importantly,.. there's no obligation for the money to be paid back by the person or business receiving the checks,.. and therefore the money does not vanish back into thin air,.. it just gets added to the money supply.. causing inflation,.... the destruction of the purchasing power of the currency,.. a hidden regressive tax that is paid for by all,.. but a much larger burden to the lower income than the middle or upper. So all of you lower income people who vote for the party who promises stimi checks,... will pay far more back in return in inflation. You deserve what you voted for,
Feedback - I always like your POV but your slide transition is distracting from your message --- just my two cents which are worthless now so see what others think
As a new investor, it’s essential for you to have a mentor to keep you accountable, Gabriel Alberto William is my trade analyst, he has guided me to identify key market trends, pinpointed strategic entry points and provided risk assessments ensuring my trade decisions align with market dynamics for optimal returns
I managed to grow a nest egg of around 120k to over a Million. I'm specially grateful to my Adviser Gabriel Alberto William for his expertise and exposure to different areas of the market
I’m a new investor as well and I use a broker Gabriel Alberto William , he’s been guiding me with my investment since I began late June and I’ve been able to accrue a profit of $426,000 with a principal of $85,000
Inflation, or CPI growth, wasn't just about stimmy checks and the like. It was also about the supply-side contraction that came with locking the economy down. When supply came back online, CPI came down, but not to where it had been pre-pandemic. Going forward, of course we should expect a lot more inflation, because deficit spending is out of control and the Fed will end up monetizing the debt.
I respect her but she hasn't experienced what stagflation is but I have. Agreed that prices of discretionary items have come down but this is transitory. Once they clear excess inventory they will just produce to meet new lower demand while prices will go up. For all those AI productivity benefits, excess government spending will just wipe out those benefits. I hope she is right and I am wrong.
It’s been debunked that offering a few hundred dollars to people spending it, mainly on things the needed anyway,did not cause deflation. Companies raised prices to cover the gap of units sold.
It is a government inspired crisis this time. The Treasury have to sell Bonds to cover the trade imbalance and the government spending imbalance. In order to sell them they have to raise interest rates and the old long-term, low risk, low interest, AAA investments (including Treasury Bonds), held by the banks (often due to government regulatory policy), become next to worthless. The next milestone should be soon when the government issue a new batch of Bonds. I have a stagnant portfolio that needs growth. What is the best way to take advantage of this downturn?
Indeed, you are correct! But on the advantageous aspect, economic downturns offer numerous prospects for ordinary individuals to create wealth from the ground up. Nevertheless, seeking guidance from an investment planner might be necessary if you desire a more assertive return.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation.
I definitely share your sentiment about these firms. Finding financial advisors like Marisa Breton Dollard who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
Marisa has the appearance of being a great authority in her profession. I looked her up online and found her website, which I reviewed and went through to learn more about her credentials, academic background, and employment. She has a fiduciary duty to protect my best interests. I sent her an email outlining my objectives and also booked a session with her; thanks for sharing.
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Patricia Annie Brooks
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, i'm in my fifth trade with her and it has been super.
She is my family's personal broker and also a personal broker in many families I'm United States, she's a licensed broker and a FINRA AGENT in United states
I'm new at this, please how can I reach her?
she's mostly on Instagrams, using the user name
fxannie19 💯 ..that's it
I don't remember seeing Daniele DiMartino Booth looking so relaxed, natural, and comfortable within herself. She's definitely doing something right. She always speaks the truth.
Always good content, shes about the only good thing that came out of the fed.
This the most measured clear explanation I have ever heard from you. Please do more of these deep lessons.
Looking forward to the next video together Danielle. Everybody seems to want more in this format.
love this format Danielle, very much feels like your wheelhouse, more info that you can tailor & tweak to the news of the day and wrap it around your depth of knowledge, wide diverse- feels customized on some levels . Thank you. Keep it up.
Danielle Dimartino also know as Double D. Great video. Thanks
Thank you for this! Please keep doing these. People need to understand what really drives the economy, then maybe we can get somewhere good.
Love this Lady!!
Absolutely amazing!! The best info I have ever seen to really help you understand where we are, how we got there and what is ahead for our economy and country!! Keep up the GREAT work!!!
Never before have so few Americans been unable to afford a home or car.....Thanks Joe!
And trump and Obama and Clinton and bush and mostly the fed. And every congress that enabled all of it.
The fed started in 1913. Unaffordability has been exploding since then.
@@davidelliott2485 Inflation was fine under trump
Bidenomics
@@fkrr5 you're a smooth brain. Inflation started exploding under trump. Congress cut taxes and actually increased spending. Inflation 101
Great content. Love how you break things down so that all can understand whats going on with our economy
I really like these videos!
Please keep them coming!
Summarizing the whole video: The Fed printed money like crazy and never quit spending. That's why inflation is increasing and prices are rising.
This style of content converted me to a subscribe. Very informative!
Amazing Danielle! My most trusted source. Much love from Canada 🇨🇦 ❤
Excellent dissertation/tutorial!
Will you next tell us what we can expect when the "HANG OVER" from the consumer's spending binge hits? (Not to mention the outsized Government's pork spend, which I think is fairly represented by the economic activities of late '70's).
My Danielle not Only intelligent,she is also Beautiful!!! ❤❤❤
Danielle, there was a lot of reverb happening in this video. If not a one time glitch of the upload/recording and it persists you can reduce that by having more soft than hard surfaces around you. For 'studio' setup you could hang blankets off-camera right/left on rolling clothes racks/painting easels/chairs and an area rug that stretches out behind you.
I think her recording is very adequate and clear, not "studio" perfect or rigged blanket perfect is very acceptable. I think it contributes to her honest feeling. She's not a "UA-camr" trying to perfect her recordings for hits.
Sorry but the stimulus money wasnt that much. Didnt make me spend more money.
Because all you got was a little check. People are still getting mortgages subsidized. Companies got big handouts. People got paid more to sit at home than work.
It was. Sorry YOU didn't get the CASH. Others did !!!! Look into what business owners got !!!!
superb analysis please make more and more videos like these which are easy to understand for people with very limited economic background knowledge. 👍
Great video. Replacing people with automation at such a high quick rate will cause much more unemployment at the white collar level and reduce buying power. Blue collar are much less effected. Robot nurse is a long way to go..
Hello Danielle - I've been a fan/subscriber for quite sometime now and this was such a nice treat, but I wanted to add a few more things, with the topics being in this order: *1. Electric Vehicles and our Power Grid* and *2. Artificial Intelligence (A.I.)*
1. Electric Vehicles and our power grid - I've been in the car business since I was 19 years old (I'm now 27) and a lot of folks are trying to "save the world by going green" and there has been a big push with these electric vehicles, but what people don't understand is that our *POWER GRID can barely handle the stress/demand we already place on it* , but adding extreme weather + the demand of these electric vehicles...? NO - I'll be waiting for everyone and they mama to plug in their EV's all at the same time and the whole power grid goes "shooosh". I suggest folks watch "Leave the World behind" (2023) and "American Blackout - National Geographic" (2013) and "Grid down, power up" (2022) if y'all wanna know more about the power grid and/or see what happens when the grid fails and what these EV's will do to the grid! Earlier this year New York was having a horrible winter and you saw a bunch of abandoned electric vehicles and in the movie "leave the world behind" you also see a bunch of abandoned electric vehicles.....
I always love Danielle’s analysis. Just wondering why she doesn’t touch more on how most gov’t overspending goes to corporations and the richest among us and it’s expected to “flow down” (never does) to middle and lower class and has now created an elite Uber rich class of pple and most inflation/spending is caused by that. Why is the focus on the $1500 checks 4 yrs ago when middle class can barely buy groceries
Good presentation. Thank you!
Great explanation Thank You
Thank you for this great review very informative.
Thank you Danielle for explaining why my former employer had massive layoffs. The Technology sector is laying off left and right while investing heavily in NVIDIA (AI.) My doctor told me today that a lot of his work will be replaced by AI it will just be a matter of time.
excellent video
I love this information, BUT, the slide transitions are so distracting. Please just put up the charts and leave out all the moving transitions. And, the background music is unnecessary, too. They distract from what you're teaching us.
Otherwise, great show. Looking forward to your next one. ❤
How about a deep dive on what it takes from where the US is right now, what missteps were already taken or planned, what mistakes are likely to be made, to push the US over the brink into hyperinflation. The very interesting read "when money dies" by Fergusson showed another country a hundred years ago but there have been many other small and not so small countries that have since succumbed to the momentary bliss of printing. Where is the US on that path tread by so many before?
Probably should not have given the stimulus money to everyone. It should have been “means” tested (if that’s the term.
DDB, is it fair to state that many of the topics you discuss here are, in part, based on the fact that we have a fiat system with unlimited money supply, which enables the US Congress to have ZERO considerstion for a balanced budget? If so, is a return to a sound money a possible solution? If not, why?
During the Covid pandemic when the gov was giving out stimi checks, that’s when I woke up. That is when I started buying precious metals, I knew we as a nation was heading down the path of higher inflation.
Ben Bernanke was your former employee or your former employer?
Employer
That 2% FED target was adopted by the FED from research that a PhD candidate had done in New Zealand! It was basically devised out of thin air by this PhD candidate who was hired by New Zealand's equivalent of the FEDERAL RESERVE.
So, it started with Bernanke with the Fed's cheap money policy plus government spending due to the pandemic! CLASSIC Asset Class inflation since 2009?
I've heard it said that over 65% of GDP generation is consumer spending!
So, unlike past recessions, the personal savings rate is not going up to "cushion" the blow - but "any" potential savings is being spent on just keeping our heads above water with the higher cost of goods and services.
The US government can't keep spending money it does not have = when foreign countries and US investors stop buying US Bonds = we will be in deep trouble! And the longer the yield curve stays inverted, the worst it's going to be when it all comes crashing down....
"adopted from research"... "basically devised out of thin air" try to stay consistent buddy
Bond market is just as manipulated as the stock market. Nothing will happen that causes problems until after the election.
Ddb is brilliant
Good common sense, Daniel. 🇮🇹😇
Covid-19 brought emergency level spending. .,. Still at the same emergency level spending today😂
Higher for longer ….. you called it Danielle.
I didn't get 19 months of unemployment as I worked through the pandemic. I know many PPP Loan recipients who do not think they have to pay those Loans back. I can't tell you how many younger people have told me they plan to default on their Student Loans.
Black Lamborghini in South Carolina is a strangely specific example....
Dont forget our government spend on defense and Weaponry is more inflationary nkt just stimulus check to the people .. america had war constantly for many years iraq, Afghanistan, Africa, Vietnam war, Philippines war etc.
No, it's not the same..
I think Economists are really over inflating of how those stimulus checks changed people's lives. Sure, if you're talking about business that stole from PPP loans, but thats not the majority.
There has also been inflation in voter certificates as well as debt notes.
Are they going to be able to keep this facade up for another 6 months ? I didn’t think it was possible after 2023. But yet here we are
What’s going on Danielle??
Oh gosh not the 60’s skirted table in the back.
Everyone including you Danielle parrot that there was no inflation post GFC. That is a ridiculous claim. That's when shrinkflation became the new way to hide it. In 2010, 10 snack size candy bars for $1. By 2019, it was 5 or 6 of the same candy bars for $1. That's 100% in 9 years. It was in everything. But what I can't believe is that nobody ever calls out the massive rise in home prices and rents during that period. It was grossly understated in the inflation numbers. I watched home prices triple in Northern California from 2012 to 2019!!! Inflation was real during all that QE and it was HOT!🔥
DDB!
Always enjoy getting an update from you and cudos on being one of the few ppl who thinks things will get bad from these high rates. Things not looking so rosy in western variable rate countries.
So are you working from home now and does this change your personal consumption ? I would suggest not very much because you’re always in front of a camera.
Can you plz run for president…
Glad you got out without a knife in your back ITM pushed out Lynette
Any evidence of that?
@@davidelliott2485 No, of course not. Cause nobody knows. She might have left on her own for all we know.
I still say inflation would be much much higher if our Government printed its own dollars.
This explanation of how we got the inflation was absolutely spot on.
The only thing that wasn't quite driven home when comparing the direct checks to consumers vs the Fed doing QE attempting to get banks to lend more (and therefore consumers to borrow more) was
When the Fed does QE, it buys assets from banks in exchange for reserves to increase the capacity of the banks to generate more loans.
These reserves remain in the banking system. The loans the banks generate from the reserves have tied to them an asset, like a homes, AND most importantly and obligation for the loan to be paid back,.. upon which the money that was created out of thin air by the fractional reserve banking system,... goes back to the thin air from which it came.
When the government sends checks directly to consumers,.. there's no asset attached,.. the money is largely used for expenses, like housing, food energy, entertainment, vacations, toys,.... and most importantly,.. there's no obligation for the money to be paid back by the person or business receiving the checks,.. and therefore the money does not vanish back into thin air,.. it just gets added to the money supply.. causing inflation,.... the destruction of the purchasing power of the currency,.. a hidden regressive tax that is paid for by all,.. but a much larger burden to the lower income than the middle or upper.
So all of you lower income people who vote for the party who promises stimi checks,... will pay far more back in return in inflation.
You deserve what you voted for,
Should have called this “Funny on the Fly”
total stimulus in 2 yrs was $11,400 for a family of 4
seems foolish to think that money caused a run for Gucci bags
inflation came from elsewhere
We're at 36 trillion dollars of debt and not even slowing on our way to 50
Feedback - I always like your POV but your slide transition is distracting from your message --- just my two cents which are worthless now so see what others think
As a new investor, it’s essential for you to have a mentor to keep you accountable, Gabriel Alberto William is my trade analyst, he has guided me to identify key market trends, pinpointed strategic entry points and provided risk assessments ensuring my trade decisions align with market dynamics for optimal returns
I managed to grow a nest egg of around 120k to over a Million. I'm specially grateful to my Adviser Gabriel Alberto William for his expertise and exposure to different areas of the market
I’m a new investor as well and I use a broker Gabriel Alberto William , he’s been guiding me with my investment since I began late June and I’ve been able to accrue a profit of $426,000 with a principal of $85,000
look up his name on the web for his website to setup an appointment
Inflation, or CPI growth, wasn't just about stimmy checks and the like. It was also about the supply-side contraction that came with locking the economy down. When supply came back online, CPI came down, but not to where it had been pre-pandemic. Going forward, of course we should expect a lot more inflation, because deficit spending is out of control and the Fed will end up monetizing the debt.
Not sure why, but after many attempts I couldn't convince Truflation that I was a human ... Oh well
Too much access to money
Cc's cars houses food travel toys
The hangover is going to hurt
Always remember to enjoy your insight and messaging. But please clean up your audio. Really difficult to listen to you. Sounds like you were in a can.
Always blame the masses.
I respect her but she hasn't experienced what stagflation is but I have. Agreed that prices of discretionary items have come down but this is transitory. Once they clear excess inventory they will just produce to meet new lower demand while prices will go up. For all those AI productivity benefits, excess government spending will just wipe out those benefits. I hope she is right and I am wrong.
You're inexperienced
1 trillion dollars of debt every 100 days..... game over!!!
Inflation is a government term for legalized theft.
It’s been debunked that offering a few hundred dollars to people spending it, mainly on things the needed anyway,did not cause deflation. Companies raised prices to cover the gap of units sold.