The ones getting raises in the US economy are the CEOs, top executives, corporate board of directors, venture capitalists, hedge fund managers, lobbyists and politicians...
I'm a grocery cashier. Most people are paying with food stamps and clipping coupons since a small bag of grapes is priced over $8. It feels like we're sunk.
I got 20 hours overtime this week, I decided with the extra money to go on a expensive trip. So I went to the grocery store, by the way the grocery cart is the most expensive to operate vehicle in 2024
Half the amount of grocery's for me before covid happened. Its so screwed up having to make decisions on the fly of what you can and cannot eat for the week. Haven't had a steak in years at this point. Still alive and grateful but having a steak used to be a treat but now it just rips into my grocery budget to much.
@@gyrate98 so are we pretending cost of living DIDNT go up for majority of Americans? Are we pretending 70% of people live paycheck to paycheck? Are we pretending jobs have been laying off people for 2 years now?
You seem to be experiencing what I did when I used to walk through my North Bay neighborhood 5 years ago amazed at the level of wealth. I felt left behind as a social worker who had worked hard all her life and wasn’t even up to a 6 figure salary. I became very resentful and hopeless. I eventually moved to a small town in New Mexico where the cost of living was incredibly lower and I could afford to buy a decent house.
Psychology path pays more. An LP or LPC is better qualified than a LCSW for clinical work. Social work is not Psychology and never was. In Texas, an LPC is preferred over a LMSW or LCSW due to the Psychology background. If you were earning six figures, why didn't you save for a house?
@@DIVISIONINCISION She wasn't making 6 figures at all and clearly she had to struggle to pay her bills and at the same time save for a down payment on a house in an area where house prices rocketed up into the ionosphere!
The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I completely agree; I am in my mid 40s, approaching retirement, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
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 ‘’Marisa Michelle Litwinsky’’ for about three years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
I have never seen American society so burnt out before. Teachers, Nurses, Doctors, Lawyers, Police Officers and other professionals are working ridiculous hours and still many are in debt. I agree that this is not going to end well
And you have all of the nation arguing over kamala vs trunp without realizing the walthy and political class are the true enemies of us normal citizens. Not even the soviet union was as much a threat to this country than corporations today.
The recession is here, where do investors look at for wealth gains now? mortgage rates still on th3 rise with higher imports and lower exp0rts, yet the Fed is to lessen cost. Something will eventually break if they keep raising interests and quantitative tightening.....
if you want to hold on to cash, put it in a safe deposit box, if you want assets, buy things people need in a shtf society, food, ammo, wood, water filters, tools, have a skill at building and fixing
Agreed, I've always delegated my excesses to a pro, ever since suffering portfolio steep-down amid covid-19 outbreak. As of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments, and only work 7.5 hours a week.6
truly appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
My CFA Julianne Iwersen-Niemann a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
In Marin County, property taxes costs around $10,000yr for a million dollar house. So I checked Oakland on Zillow - $10,000 for a house costing $500,000. Where is all that property tax money going - to line pockets and feed the rich.
Restaurants people can afford are not as prevalent as they once were. Now it's just fewer people spending more at fancy restaurants. When I was a kid there were buffet restaurants all through my state, all gone now.
Who wants to eat a buffet?? Kids with bacteria and adults can't control them. Also, adults not knowing how to behave? Buffets attract the worst people. The quality is piss poor and not good enough to eat more than a plate. Maybe back in your day 80s, but since 00s, it's been bad. Only good buffets are in Canada
I read the "American Dream" (house, car, kids, basically 1980s middle class, costs $4.5 million dollars now, up $1 million from last year. Most people will never have 10k in their account let alone 4.5 million, this country is screwed and we are living in the downfall. Buckle up.
People who aren't rich but are making adjustments will do okay. Making adjustments is important. I retired a few years ago. I'm getting income from social security and from my retirement funds. It gives me over a six figure income but I still watch what I'm spending my money on. I have a budget each month and more often than not I don't spend all of my budget money. When property taxes, insurances comes up is the only time I need to use up my budget. I see people spending too much money. What ever happen to the days of saving money to buy something instead of instant gratification.
Luxembourg is a tax haven and their GDP figures are quite deceptive. The average American household has more disposable income than the average household in Luxembourg.
Several of the biggest market experts have been voicing their opinions on exactly how awful they think the next downturn would be, and how far equities may have to go, as recession draws closer and inflation continues well above the Fed's 2% objective. I'm trying to build a portfolio of at least $850k by the time I'm 60, therefore I need suggestions on what investments to make.
Most people either do not understand the power of compound interest, or are just impatient. For the average Joe, however, I think it is just best to invest in the S&P 500, and just wait, which is reliable, albeit extremely long-- lots of years. Or just use a professional analyst and speed up wealth creation. Most people underestimate the power of the latter.
On my end I've been in touch with a financial analyst ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
Interesting, Mind if I ask you recommend this particular professional you use their service? honestly right now i have quite a lot of marketing problems.
Will all end? it's ended...I never seen so many people living in tents.. urination and poop right on the street..piles of trash... open border...big chains closing locations by the 100's...2 clowns to choose from to fix it 😂...you can vote for tweedle dee or tweedle dum... they're going to fix it..👍
Stop Listening to Pessimists Somehow, we forget about all the pessimistic things we heard in the past when they turn out not to be true. Yet we pay all kinds of attention to pessimists in the present. Quit doing that. They're the same people. Their crystal ball now is just as cloudy as it was a year ago or five years ago. If you feel you must do something for your future due to a pessimistic outlook, I would suggest you do the following: “Invest like an optimist, but work and save like a pessimist.”
I live in a tourist town in Maine, and they are still coming and spending. I think that amongst consumers, they feel like they are on a sinking ship, and they're just going to live it up until it sinks.
Really…is that your analysis??? I just did a 8 day cruise out of NYC up to Maine and Canada last week. Was supposed to stop in Bar Harbor but they stuck in Boston. Did go to Portland (Kennebunkport) and other than a handful of people, everyone was older….probably retired and didn’t hear a peep out of anyone saying they’re struggling financially. Matter of fact, everyone talked about where they’d been this year and where they were going next year. I’m headed to St. Barts early this year, myself. Many of my friends have bought a place in New Zealand, just in case Trump starts forcing people to attend church as part of this Christian nationalism crusade or dragging people out of their homes because they’ve made fun of or negative comments about Trump.
Fyi. Inflation is used to recalculate social security payment using inflation numbers from july aug and sept. Coincidence? I think not. Inflation numbers are used to calculate tons of things. They have huge motivation to lie about inflation.
Just letting you know that, my raises have been minimal at best. All my income has been sucked up by much higher costs on maintenance and the relative 10 - 20% increase on everything, and that doesn't even consider the 250% increase in insurance costs. This economy sucks!
In 2003 age 39 I was part of the exsisting middle class for awhile had half a million dollars in debt, but by 2012 Sold everything became debt free, I still have the same job, but now that job is part of the working poor class, but I will never put myself that deep in debt again
Why didn't you improve your skill set/education/credentials? The only person you have to blame for still having the same job is YOU. Nobody is going to hand you anything. It's up to you be create your own success, Kevin. 🧐
@@DIVISIONINCISION Do you seriously think that person wanted a judgemental lecture from you? It's up to you to develop a smidgeon of empathy, Division. 🧐
@DIVISIONINCISION thanks for reading, I've had my own business for over 30yrs doing what i love witch is important for any career Just in this economy your profit margins are lower ,you can only charge so much for a service that's highly competitive
Here in Australia with have a similar economy. Im 65 , all im seeing is everyone driving new cars, new homes, new toys, etc. Spending lots of money, the finance companies money. These people bave have negative money in their savings accounts.
Yes. It seems like people don't save money for something anymore. I'm retired and I operate from a comfortable budget. But I still watch where my money goes. I'll wait for a sale or set aside money for it out of my budget money.
@@cannotwest what sort of things? There's wants and needs. I can buy anything I need when I need it. I also have a great, fully equipped and furnished urban cave. No debt, no rent...spoilt really. I have everything that I want. I can do what I have to and what I want to. I have a simple comfortable life.
@@walsakaluk1584 When things you use daily are of the top quality it changes your life experiences for the better. And the top things cost a lot, in fact, prices can go up exponentially for the best offerings. E.g. I like big comfortable powerful cars, you won't see me driving a Civic.
We are in the top 10 percentile where we live with no debt. We eat out every other day, but try to keep it below $50. I realized we can save quite a bit if i just get a cheap item on the menu, and eat something at home later. I was so happy they had a 3 taco plate for under 9 bucks today. Our cars are 6 and 18 years old, and my phone must be 3 years old. Don't buy stuff with debt unless the interest rate is low, and you intend to keep it forever. I wouldn't buy a house right now unless you have the cash. Interest rates are too high, and the housing market is due for a correction.
A huge warning sign is the fact Central Banks for at least the last two years have been buying Tonnes of gold. Not just U.S. Central banks but Central banks around the world.
The life lesson I have learnt is talking to my colleagues about finances. A lot of people have hit the wall because simply they are trying to live a wealthy lifestyle when they don't have the money. It's all a facade using the banks money and now can't afford. Be warned live within your means don't become a statistic.
I think social media has affected the spending by the poorly educated. Use to be we assumed the wealthy\celebs travel by private jet, live on fabulous estates and “worked” very little. BUT actually seeing videos of these people driving on the tarmac, having their cars unloaded, while they simply walk up the air stairs of the plane has created a lot of resentment I think. Like the pandemic, I enjoyed the time on my 13 acre estate, discovering Amazon daily deliveries, until I saw folks on state capitol steps demandin’ them there rights😳
If it wasn't so dreadful it would almost be humorous like that Iraqi saying that the armies of Iraq are defending Iraq in good fashion while the allied troops are ripping down statues of Saddam
I work full-time 40 hours per week plus Lyft 40 hours per week plus a social media channel and company. At a certain point you really can't magically make more money. If nothing goes wrong and I continue to rent a tiny room in a trash house and eat from a bag of Costco rice I'll be out of debt in 18 months. Meaning at 18 months I'll be at flat zero. Making money on socials is way harder than it looks. I start my masters degree program in August 2026 and I'm on track to start school debt free. Maybe higher income after (maybe not) but my student loan after grad school will be $1,000 per month for ten years. So yeah "go make more money it's America." One car accident or physical injury and I'm smoked.
BUT it’s capitalism…right? I got mine, you get yours, even if mine was simply given to me by virtue of who my parents were??? I’ve wondered over the decades how long an economic system would last if people like me could simply get educated, travel, enjoy life, never have kids or a job…all perfectly legal. Now we’re finding out.
pay the less debt , and so on . I know a dude , he's a doctor now , and he paid his college loan and now he's debt free . he always worked 2 jobs and he's a huge saver , always have been since a teenager too . Just don't give up , work hard and pay off when you can .
@@debbiec6216 thank you for the kind words. I will keep working on paying the debt. I appreciate knowing there is hope if I stay focused. But wow my goodness it feels like a long road.
Wrong. Solution? Who is going to change it? 80% of people can spend what ever extra time they have on worthless Hollywood movies, rather than actually educating themselves and their families, so they can "really" make well informed decisions about themselves, their family, their community and then finally, about the country. Change happens at grass root level, but the people at grass root level (who are suffering the most), are not willing to put the due effort, and it is getting worse. That is the problem.
all you need to do is look around america. go into the stores and see whos buying what. things aren't adding up. only debt is adding up for most people. it's a bubble. it's going to pop at some point.
I got out of all CC debt yr 2000. I hated that feeling of owing that money plus interest the 1st 20yrs of marriage! Made me sick, mad that these money entities, we're making money off me with that interest, we said no more. Don't understand how these people can sleep at night. Owing that much money to credit cards!😮
I drive long haul truck and am in and out of dollar general, sprawl mart all the time getting water, snacks, food for the road. This past year I watch people shopping using their phones calculator costing out a product and totalling their lists. Often they'll put a product back and I see a lot of "off brands" being chosen. They don't have the money.
I agree with you about stock market , problem is the govt has learned to manipulate the money and keep on kicking the can down the road with new ways to finance debt. When it crashes I feel the same it’s going to be a catastrophic event.
So here's the thing, even if market drops 60 to 80% , yes Boomers will be wiped out. What we will see is a slow decline of America in Standard of living, for the foreseeable future along with inflation. Hint-since barack obama days, he told us to our faces and that Hillary&Dems would be here to help manage our deline. 😮 I remember thinking WTF. Just like him and this administration has hasten us over the cliff with them and Congress passing these Bills last 3 yrs. Not even Trump will be able to save us from this Deline. Neither will. 🎉
Its why I'm holding reserves and have "Buy" orders in place for several stocks for when they break and drop to absolutely ridiculous levels.. Buy low, sell high..
Living the dream, man, living the dream. I think if we all did this, it’d be the most powerful and peaceful form of protest. they rig the game, we just refuse to play.
RV life has become unaffordable. Do you know how much it costs now to fill up an RV with gas? With all the extras you need, little alone maintenance and renting spaces to stop at?
My brother is in his 60's and hangs out with several Halloween fanatics that decorate their homes with electronic and automated figures and display items. He actually repairs much of the electronics and the hydraulics for many of these people. A group of them went out to two haunted houses last night in Illinois. They paid $45 and $50 entrance fees per person at the haunted houses. How could a family afford that? They can't! These costs are totally ridiculous. Something has to give.
@@magicparkmemories I'll never go back to Disney because of their Woke ways. I am sure they are doing the corporate thing and seperating people from their money.
They gym I go to is so empty compared to 4 years ago. its only 20 a month and no matter what time I go there is like 8 people there and it's a huge gym.
An easy expense to cut. I did it as are friends, who are unsubscribing to multiple streaming channels, eating out at pricier restaurants, upgrading their cars…
I can’t cut the gym 😢it’s the only thing that helps me feel like I can cope 😔 but I kno one day I may have to. I go to planet fitness. Yes the gym is more dead where I go.
No , the federal reserve has tried to do the right thing but democrats have stopped them under threat of prosecution on account of the election. Everything is a lie
Sorry Michael -- The last 3 major recessions (1982, 1990, 2000) were not caused by lower consumer spending, but lower corporate spending. As companies do not build or buy new equipment it causes layoffs at their suppliers, etc., etc., etc.
Actually that's BS from Fox News and newsmax. Stop blaming your troubles on the poor they are not the cause of it. Illegal aliens are not leading the good life . The rich are the ones who are screwing us over they've been doing it now for decades and decades.
@@ColetteSpencer-k5oas someone who moved from ga to la its all relative although la is def more expensive its not easy anywhere food is damn nearly the same cost in ga
Unless you are 20ish, perhaps ask yourself why you lived in one of the states with the best public education and most career opportunities available but blame it for your problems? I just turned 40 and have a great career from an affordable 4-year CA state college. I have many friends with a similar story to myself and we also have friends that went a different blue collar path and still have a great life here. We are all cut from different cloths, there is no one special formula (other than being born into money) to live well in a high COLA. Don't get me wrong, I would share the sentiment that California is a really rough place for people to come in and expect life to be great but at some point when you're somewhere long enough you need to figure things out... Adapt. If you started here at a young enough age no matter what income demographic you were (mine was quite low to start in life) take a hard look in the mirror.
Michael Bordernaro just put the nail on the head. The reason that stadiums and concerts are full still is because a lot of people are spending money that they really don't have and are just using a credit card to pay it.
@@E.S.86 He basically just said why my ticket flipping business is doing so well lately. They are using their credit card to pay for the tickets. This is wild, but he is telling the truth.
Not exactly what he said. You seem to inverted it a bit. What he said is that the wealth disparity in the US now is so top heavy, that even though so many Americans right now are struggling to even go to the grocery, because the rich have gotten even richer, have so much MORE wealth, that they are making it look as if the economy is healthy - when it really is only healthy for the plantation owners - while the majority of Americans are pretty much wage slave cotton pickers.
@@jamenta2 They are the main ones out here buying these concert and sports tickets and if the poor are buying them, they are using credit cards to pay it. What you just said is very true. America’s future is cooked for the poor in this country.
How many raises per year do they think we get?? I got a 93 cent raise in August and had my hours chiseled back so now I make $120 less per week!!! I’m OVER it!! I’ll be dancing in the street when I leave this “family” business.
It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
I understand how you feel. It's a little bit difficult to navigate things these days. You don't wanna lose whatever is left. I may suggest that you find a financial advisor who could give you thorough advice on how to go if you want to go the investment route. Also, the fact your business failed doesn't mean you should give up.
The issue is people always have the “I’ll have to do it myself mentality” Unapologetically, that’s why the get heavily affected during a crash and coupled with the fact we’ve had the longest bullrun ever in the American history, most folks aren’t equipped to manaqe this crash and it’s impending opportunltles well enough, so it only makes sense to seek proper guidance during these times, that’s what lnvestment-advlsers are for, been using one ever since the pandemc 2020 and I’ve been barely affected by crash, I have $850k in profit sitting in my portfolio and I’m unbothered about the market outcomes.
A good example of the rich doing well. There was a house for sale a couple of months ago in San Francisco. It used to be own by some actor who was known to party up pretty hard there. Then it was sold for $11 million. That owner stayed for a few years and started doing some remodeling but the pandemic hit. The new owner decided to move to Colorado. The owner came down on price to $8 million initially but no one bought it. The owner finally lowered it down to a bit over $3 million. It's actually a good buy at that price. If I had money I would buy it. But what struck me was how willing the owner was to take such a big loss from the price he had paid. I can't imagine losing several million like that.
The only people I see rich 🤑 people doing well and the other people is doing very bad 😔 and rich laughing at people being evicted and being homeless I'm surprised it no evolution or anything to make their life uncomfortable 😣
All these issues stem from an economy grappling with uncertainties, including housing problems, foreclosures, global fluctuations, and the aftermath of the pandemic, leading to instability. Rising inflation, sluggish growth, and trade disruptions demand urgent attention from all sectors to restore stability and stimulate growth.
With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the Dollar's perceived safety. Worried about my $420,000 retirement savings losing value, I seek alternative security for my money
With my demanding job, I lack time for investment analysis. For seven years, a fiduciary has managed my portfolio, adapting to market conditions, enabling successful navigation and informed decisions.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Thanks, I looked her up on Google and was very impressed by her credentials. I reached out because I need all the help I can get. I've scheduled a phone call with her.
Just read "Forbidden Laws of Wealth" by Victor Hayes and I can’t believe it’s so underrated. Methods in this book are next level, it needs more attention!
Stop Listening to Pessimists Somehow, we forget about all the pessimistic things we heard in the past when they turn out not to be true. Yet we pay all kinds of attention to pessimists in the present. Quit doing that. They're the same people. Their crystal ball now is just as cloudy as it was a year ago or five years ago. If you feel you must do something for your future due to a pessimistic outlook, I would suggest you do the following: “Invest like an optimist, but work and save like a pessimist.”
All Americans should be invested in good no-load mutual funds. You can invest $50 a month, even if you are a low-wage earner. The stock market is a hedge against inflation. I am retired and my net worth has been increasing and not decreasing. But, if I was only relying on Social Security I would be sunk!
When I was growing up in California it felt just as you’re describing. As a high schooler I always wondered how anyone lived well where I grew up. Now that I’m gone I finally feel like I can do well enough to let my family breathe, even now despite the current economic situation.
@@geocam2 What's funny about rich people complaining that poor people don't work and are a drain on society is that every rich person does negative work. That is, it takes far more work to accommodate their life than their labor could possible produce. They are the real drain on society.
Michael - it's not so much a lack of financial education (although that is a factor) as it is a lack of financial RESTRAINT/DISCIPLINE. Few are willing to save the money first before doing that renovation - they just have to get it done NOW. So, they end up going into debt to make it happen and then get into trouble when they fall behind paying it back. I bought a fixer-upper and need to remodel two small bedrooms and my living room, but I don't have the cash to pay for the drywall. So, for the foreseeable future I'll be looking at bare or insulated walls until I'm able to pay for the renovations outright. I refuse to borrow the money from a bank or get a HELOC just to finish the reno now.
Believe it or not, Americans are among the hardest and longest per hour workers in Western society. The problem is not that Americans lack restraint (or are lazy) - the problem is, as Michael says in this video, is the rich are getting even richer - making it appear as if the economy is doing great - when in truth it really isn't doing great at all, and the country is headed for another financial crash.
Funny isn't it - how the Rich got you blaming the poor grunts mowing your lawn, instead of your boss driving a Maserati with his 4 month vacations. You've been duped and don't even know it.
Laissez faire capitalism has its origins in Social Darwinism. Yes, the rich do think it's for the best that you starve. Do you want to become a successful economist? Tell the rich what they want to hear.
Thank you for all of your work and the great information you provide. I'm retirement age and am taking management of my own retirement funds. It's a bit daunting, but leaving them in Bank or savings has not proven very profitable. I also have a shark mentality, keep moving...keep learning. I have learned so much in the last 2 years about investing, Options, and Crypto but still have mountains more to learn. It's not as daunting when I come across someone like you who is wanting to share your knowledge to help others and truly cares about bringing others along with you....... I have managed to grow a nest egg of around 210k to a decent 732k in the space of a few months... I'm especially grateful to Sandy Barclays, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
New survey has revealed rising adoption of cryptocurrency among the world billionaires, as they start experimenting in the digital currency, expanding their investments portfolio beyond traditional profitable assets.
Over the years, I've been a part of numerous trading programs, sifting through a barrage of information. Yet, nothing has come close to the sheer clarity, depth, and precision of Sandy insights. It's akin to finding a diamond in a coal mine.
When it comes to investing, we want our money to grow with the highest rates of return, and the lowest risk possible. While there are no shortcuts to getting rich, but there are smart ways to go about it.
Moved out of CA thanks to you and Briggs. House only cost $85k I am broke but don't give 2 shites about the economy. Thank you for the world updates though. Keep up the good work.
Was offered an "upgrade" for 100$..? May buy one even without removable battery if they teach me how to remove sim card..i had to replace cord and charger to ,"repair" old one...at 37$...not old style replacements..
To me, southern Florida is for millionaires only now. Make that multi-millionaires. And I imagine servants will be in quarters located here & there to service them. And that'll be about it except for whatever successful store or business owner ?
It actually makes me so sad. my grandpa used to have a nice, little house right by an orange grove in Tampa in the early 2000s. now that orange grove is gone and in its place are houses it doesn’t seem like any of us could afford. really sad what’s happening to Florida. we have so much natural beauty and wildlife, and too see it all paved over to develop more properties for the rich is really sad.
I agree completely with everything you said. The people working in the engineering department at my company (high pay individuals, obviously) think the economy is great. My middle class friends at the trailer park (many of whom used to be able to afford nice apartments), and the few lower class people still able to afford to live there not so much....
Yep … not all my friends are engineers .. the contract engineers I work with know .. the ones that have worked at the company, I doubt know unless they have kids who didn’t go into the higher paying fields
It's not about "high pay", it's about protecting their money from inflation... The difference is less about wages and more about financial knowledge... Very few people grow wealth with only their wages.
@@joec5544g That's true. I'm middle class and struggling less than most $100k earners that make 3 times what I do. It's way easier to spend less than earn more.
Sometimes, I think a lot of people spend money they don't have especially on home renovations or concert tickets is because they think that it can't be all taken away at once with so many people in massive dept. As if there's a queue to get through which will give more time to pay off the dept, no big deal. Or, they don't care because at least they got live the high life for as long as they did. Better known as "Experiencers"
Totally agree with Michael. I’m in the service arena and if you’re self employed we just keep raising our price onto these people that have big money so we can move up a little and survive but if you’re getting a paycheck from employer you’re falling down . I’m in California so there’s big money
If you’ve been working in California during the summers for the past few years, including earning income as a UA-cam influencer, you would need to pay California state income taxes on that income. California taxes nonresidents on income earned within the state, which includes wages and income from activities like being a UA-cam influencer. Regarding back taxes, if you haven’t filed California tax returns for those years, you may need to file them now and pay any taxes owed. It’s important to address this as soon as possible to avoid potential penalties and interest. If you need assistance with this process, consulting a tax professional can be very helpful. They can guide you through filing the necessary returns and ensuring compliance with state tax laws.
I'm a nurse in NorCal. I make 4x what I made in Alabama. The cost of living in Cali is more than AL, but not 4x. Give me the money and I'll pay a dollar more for Mac& Cheese.
Do you really think the poorly educated part of the working class that’s full of white rural rage and conspiracy theories vote based on the Fed’s discount rate? So…let’s say the Fed lowers the rate a full 1%. How many Trumpers will all of a sudden say gee…things are looking better, think I’ll vote for Harris???
As a conservative, i have a very VERY controversal perspective that my other conservitive peers dont agree with ...and this is my stance: The enemy of the people are the corporations and the rich people perpetuating the broken wealth innequality system. And before you tell me (no its the government) im not saying the government isnt just as responsible, but look at why the government is corrupt to begin with? It started with Reagan's trickle down economics in the 1980s bribes became legal with lobbying and the rich and corporations bought out our government and replaced our politicians with corporate shills. The free market hasnt existed for decades, we live in a crony/runaway capitalist society where monopolies are allowed to exist, flourish and extort the middle class. It is unsustainable.
These aren't the same free markets I grew up with, as a matter of fact, I barely recognize them. There is a government program that basically pays employers via tax credits to hire people and the credits are large. Adam Smith would be rolling in his grave.
The company I work for is having their benefits renewal and they noted the premium has been increased by4.2% when they give their employees a 3% raise each year 🤔. I am new to this company only been there 6 months. We’ll see when I get to the 1 yr mark. 😅 time to look for a better paying job or a second job 😏
Our favorite local Italian restaurant has doubled their prices. We used to go every week or so. Now, we only go on special occasions. 😢 We eat at Culver’s fast food restaurant once a week now. It costs about $28 for two. In retirement, you have to find ways to still enjoy time out together.
I have a couple of rescue dogs that are fairly young and healthy now. But when I was taking care of a couple of elderly dogs nearing 20, the vet bills were mind-boggling. It seems like vet costs have tripled in the last few years. I can cover the food but paying thousands of dollars for vet bills down the road is stressful to even think about. And it's extremely difficult to find places that will rent to you with pets in some areas -- if you don't own your home.
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 that you saved me from huge financial debt with just a small Investment, thank you Jihan Wu you're such a life saver
I'm favoured, 90K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Mr Jihan Wu😊🎉
Thank you Michael for great reporting. We need to build tiny home villages for homeless & train them to repair roads & teach them Gospel.Proverbs 19:17
My parents neighbor just got a quote for her bathroom re-do for $18,000.. Pull linoleum, put down tile and concrete board, re-grout bathtub, new toilet, caulk, and replace vanity and sink.. Told her to pick out everything she wants and add it up then add $3000 for my dad's and my labor and supplies and I bet she stays under $10,000.. Guy who did the quote was shifty AF and my dad did not like him either.. Might take a week to do it since its really a small bathroom..
$18K for a new bathroom is standard price. I paid $18K for mine, exactly what you described with a nice glass frameless shower screen. Great that your Dad has the skills to do it himself. $8K back in your pocket.
It sounds like the floor is a wood subfloor if you need concrete board before the floor tile. You don't need to pull the vinyl up. Just screw 1/4" conc board on top of it. Makes an extra layer of moisture barrier. Used to be in the business.
@@rockyroad7345 Got to do a little subfloor work around the toilet and on one corner of the bathtub so pulling the vinyl to see how bad it is. Figured in one sheet of subfloor already along with new toilet flange. Dad and I did one bathroom in their house like 25 years ago and just re-did it again after 20+ years and had no water damage anywhere..
@@TheSuperdodgy I used to do a lot of bathroom remodels back 20 years ago and other than being a little slower I think I've got a few more left in me..
9:11 i notice something mike, the streets are quiet.......reminds me of my 90's middle class neighborhood.....it still is somewhat, though to avoid the 100 million overpopulation growth that has been added to the country since 1991, one must become a member of the CARTEL DE TIBURON
I totally agree with you about people in America putting everything on the credit card to go to a concert to look rich or look like they can't afford it and they really can't that's basically been going on in America for decades people taking out loans and borrowing money that they cannot afford in order to make it look like there's something or they just don't care about the future
I see another factor in spending A couple of things I notice .Alot of 500k, million dollar homes went under water literally in Pasco withlacoohee river area after Helene & Miltion.Alot of homes all around pinellas have piles of furniture out front even lawn furniture and washers dryers dont seem to be damaged .maybee 50% is .Alot of people are trying to collect insurance money if not then FEMA money .Another straw man on spending .
Trying to emulate a status quo is what gets people into financial trouble...🙄 I'm retired with a cute little house and no debt... Maintaining material stuff can become overwhelming...🙏
That’s capitalism…right? I got mine, you get yours. Isn’t that what Trumpers want…freedom to make money however you want…no handouts? Yet as someone from 3rd generation wealth who never wanted to deal with kids, just enjoy life, I hear nasty remarks from Trumpers all the time. Never taken a dime from the government, the family has paid millions in taxes with no complaints.
In 2008, people didn't get burned because the stock market was overvalued. They got burned because banks were pushing out subprime loans to anybody breathing for a house, then selling the loans on the market and lying to investors by telling them that the loans were AAA. Banks made a killing on the closing costs and fees and got the loans off their books. Then market investors borrowed trillions of dollars to buy those bad loans believing that they were AAA rated. When the interest rates on the loans reset and the homeowners started defaulting on the loans because the mortgage payments doubled and tripled, the market crashed because the investors couldn't payback the trillions of dollars they owed. That's what killed the economy and the stock market. Go see The Big Short.
@@tobyk5149 That the stock market didn't crash in 2008 because it was overvalued. It crashed because of the dishonesty and greed of our nation's financial institutions.
We bought an old plantation era home built 1925 top of the hill overlooking the beautiful Pacific ocean. Only were able to because it was relatively low because of distance to larger towns. We were able to with 150000. It's not for everybody, but Big Island Hawaii has been great for us. Lots of affordable land if you wanted to build or even live off grid, but you have to have the funds or be extremely resourceful.
The ones getting raises in the US economy are the CEOs, top executives, corporate board of directors, venture capitalists, hedge fund managers, lobbyists and politicians...
@@cynjhern I read machinists at Boeing was offered 40% raise... C'mon take responsibility
And the rest can starve..
Don't forget the Longshoremen.
I see you spread the blame all over.... Good job.
@@perkelin Trust me, Americans aren't starving..😂
I'm a grocery cashier. Most people are paying with food stamps and clipping coupons since a small bag of grapes is priced over $8. It feels like we're sunk.
that's fine if you are young. i was one of those at age 17 and learned the job in like 2 weeks max and made like $7 an hour. don't stay there long.
@@BossItUp911 you completely missed the point
thank you for doing something useful.
The numbers don't lie but liars use numbers
@@andrewgleason586max their cards? I mean it is a spiral race to the bottom.
Paycheck to paycheck thingy has been going on for decades
The linkage between merit and wealth has broken. "It's a big club, and you ain't in it." ~George Carlin
But George Carlin was in it, lol!😂
The link is there. You're in the wrong profession. I don't hear many Doctors/Psychologists/Nurses saying they're broke and poor.
It is a small club
@commonsense6967 no he wasn't. He was taken out for speaking against them.
I thought he was talking about wealthy bankers.. it's not difficult to become rich
I got 20 hours overtime this week, I decided with the extra money to go on a expensive trip. So I went to the grocery store, by the way the grocery cart is the most expensive to operate vehicle in 2024
Half the amount of grocery's for me before covid happened. Its so screwed up having to make decisions on the fly of what you can and cannot eat for the week. Haven't had a steak in years at this point. Still alive and grateful but having a steak used to be a treat but now it just rips into my grocery budget to much.
Haha! Unfortunately, spot on. Thanks!
Not to mention a lot of times when you work the extra overtime they TAX you a higher rate to take more!
@@HealthySurfStar I look at it as supporting all the people on welfare.
Hopefully no tax on overtime or tips will be passed and signed
@@HealthySurfStar
Hyperinflation - leads to richer getting richer till the system breaks. Venezuela 2.0
And you forgot to mention socialism like the Democrats want
@@gyrate98with the fake government statistics. Question has food auto insurance and rent go up only 9%?
@@gyrate98 Never said we ARE in hiperinflation. Just saying that’s how starts.
Except the US and its allies are sanctioning countries like Venezuela and Cuba.
@@gyrate98 so are we pretending cost of living DIDNT go up for majority of Americans? Are we pretending 70% of people live paycheck to paycheck? Are we pretending jobs have been laying off people for 2 years now?
You seem to be experiencing what I did when I used to walk through my North Bay neighborhood 5 years ago amazed at the level of wealth. I felt left behind as a social worker who had worked hard all her life and wasn’t even up to a 6 figure salary. I became very resentful and hopeless. I eventually moved to a small town in New Mexico where the cost of living was incredibly lower and I could afford to buy a decent house.
ATTA GIRL, YOU PERSISTED, AND FOUND "YOUR" WAY 😊 HALLELUJAH and AMEN 🙏 🙌 👏 🎉
It's like Manhattan: get rich or get out.
Yes, all the primo places in our country with good paying jobs have always been pricy. Gotta be mobile and think realistically.
Psychology path pays more. An LP or LPC is better qualified than a LCSW for clinical work. Social work is not Psychology and never was. In Texas, an LPC is preferred over a LMSW or LCSW due to the Psychology background. If you were earning six figures, why didn't you save for a house?
@@DIVISIONINCISION She wasn't making 6 figures at all and clearly she had to struggle to pay her bills and at the same time save for a down payment on a house in an area where house prices rocketed up into the ionosphere!
If I don't have to have it...I don't buy it.
Bingo!!!😮😅
Amen! Stop eating out for starters. This alone would save most people hundreds of dollars every month.
If I don’t have it I can’t afford to buy it.
How dare you be responsible! That’s unAmerican of you. 😂 Go max out them credit cards c’mon!
@@moonryder203 Good sarcasm excellent!!😂
The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?
High-yield savings account.
Effective personal finance management is more important than the amount of money saved, regardless of whether income is earned through job or investment. Individuals can seek counsel from a certified financial advisor to optimize financial outcomes, who can provide specialized advice and methods to decrease expenses and maximize income.
I completely agree; I am in my mid 40s, approaching retirement, and have approximately over 2million dollars in external retirement funds. I am debt free and have very little money in retirement funds compared to the total value of my portfolio over the past three years. To be honest, the Fin-advisor can only be neglected, not rejected. Just do your due diligence to identify a fiduciary one.
This is exactly how i wish to get my finances coordinated ahead of retirement. Can you recommend the financial advisor you used to get ahead?
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 ‘’Marisa Michelle Litwinsky’’ for about three years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
GDP also includes government spending. So the more the government spends and puts us in debt pushes up the GDP. Facts!!!
@@JillFestini bingo!
It also includes the government selling our resources.
gov spending = jobs. But GDP also include fin services, like interest, insurance, … they produce nothing.
Great point.
If GDP were correctly calculated, government spending would be deducted from GDP. That's the REAL story of the economy.
I have never seen American society so burnt out before. Teachers, Nurses, Doctors, Lawyers, Police Officers and other professionals are working ridiculous hours and still many are in debt. I agree that this is not going to end well
THIS people are working harder and longer and not getting the $ to catch up with inflation.
Doctors don’t all make the same wages. A plastic surgeon or neurosurgeon isn’t struggling unless they are just blowing through money.
And you have all of the nation arguing over kamala vs trunp without realizing the walthy and political class are the true enemies of us normal citizens. Not even the soviet union was as much a threat to this country than corporations today.
They're gonna eat the rich. This society looks a lot like the soviet union before its collapse.
@ReGenMed83 the doctors are doing just fine. They may complain about their schooling costs, but by the end of the day...they ain't struggling.
The recession is here, where do investors look at for wealth gains now? mortgage rates still on th3 rise with higher imports and lower exp0rts, yet the Fed is to lessen cost. Something will eventually break if they keep raising interests and quantitative tightening.....
if you want to hold on to cash, put it in a safe deposit box, if you want assets, buy things people need in a shtf society, food, ammo, wood, water filters, tools, have a skill at building and fixing
Agreed, I've always delegated my excesses to a pro, ever since suffering portfolio steep-down amid covid-19 outbreak. As of today, I'm semi-retired with barely 25% short of my $1m retirement goal after subsequent investments, and only work 7.5 hours a week.6
truly appreciate the implementation of ideas and strategies that result to unmeasurable progress, thus the search for a reputable advisor, mind sharing info of this person guiding you please?
My CFA Julianne Iwersen-Niemann a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for this amazing tip. I just looked up Julianne, wrote her explaining my financial market goals and scheduled a call
In Marin County, property taxes costs around $10,000yr for a million dollar house. So I checked Oakland on Zillow - $10,000 for a house costing $500,000. Where is all that property tax money going - to line pockets and feed the rich.
Politicians have pensions; we don't.
@@paulcoonce2493 In addition
Restaurants people can afford are not as prevalent as they once were. Now it's just fewer people spending more at fancy restaurants. When I was a kid there were buffet restaurants all through my state, all gone now.
Here in Michigan too, all the buffets closed except the Asian and Indian .
Who wants to eat a buffet?? Kids with bacteria and adults can't control them. Also, adults not knowing how to behave? Buffets attract the worst people. The quality is piss poor and not good enough to eat more than a plate. Maybe back in your day 80s, but since 00s, it's been bad. Only good buffets are in Canada
Here in California the middle class can no longer afford fast food.
buffets closed because they can be a health hazard
it's not a god given right to eat out every nite nor can every one afford a vehicle ,thats life ,Americans love to cry no matter what the economy
I read the "American Dream" (house, car, kids, basically 1980s middle class, costs $4.5 million dollars now, up $1 million from last year. Most people will never have 10k in their account let alone 4.5 million, this country is screwed and we are living in the downfall. Buckle up.
Many people have 10K. Many may not make it to 100K.
Which is why Trump must win!!
People who aren't rich but are making adjustments will do okay. Making adjustments is important. I retired a few years ago. I'm getting income from social security and from my retirement funds. It gives me over a six figure income but I still watch what I'm spending my money on. I have a budget each month and more often than not I don't spend all of my budget money. When property taxes, insurances comes up is the only time I need to use up my budget. I see people spending too much money. What ever happen to the days of saving money to buy something instead of instant gratification.
buckle up?.....it worse than that.....if u need a visual representation of the US middle/poor class in 2024.........google NORTH TOWER JUMPERS
As George Carlin once said, it's the "American dream" because you'd have to be asleep to believe it.
Michael, keep “em” coming - can’t start my day without hearing from you. Thanks for all your efforts…😊
Is it to late for trump to save us?
Thanks, will do!
@@Patrick-yh5yd we can only save ourselves at this point consider moving to another country
The US is not "the richest country in the world." That title belongs to Luxembourg, which has the highest GDP per person.
yea true but whats their population?
@@oma_gunnerlol exactly
Because it's a tax haven
Luxembourg is a tax haven and their GDP figures are quite deceptive. The average American household has more disposable income than the average household in Luxembourg.
@@oma_gunner How many homeless and unemployed in the usa? We know its rich or dirt poor country by that indicator.
Several of the biggest market experts have been voicing their opinions on exactly how awful they think the next downturn would be, and how far equities may have to go, as recession draws closer and inflation continues well above the Fed's 2% objective. I'm trying to build a portfolio of at least $850k by the time I'm 60, therefore I need suggestions on what investments to make.
Most people either do not understand the power of compound interest, or are just impatient. For the average Joe, however, I think it is just best to invest in the S&P 500, and just wait, which is reliable, albeit extremely long-- lots of years. Or just use a professional analyst and speed up wealth creation. Most people underestimate the power of the latter.
On my end I've been in touch with a financial analyst ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
Interesting, Mind if I ask you recommend this particular professional you use their service? honestly right now i have quite a lot of marketing problems.
'Rebecca Nassar Dunne’ is the manager I use. Just research the name. You'd find necessary details to set up an appointment.
I just checked her out on google and I have sent her an email. I hope she gets back to me soon.
I am going to sell my house and leave the US. I am afraid to stay here. I feel that this will all end very badly.
Doing that in a few years
Where is better? Seriously... not messing with ya. Just curious.
Why don’t you keep it and rent it out? That’s extra income if you have a low payment.
Will all end? it's ended...I never seen so many people living in tents.. urination and poop right on the street..piles of trash... open border...big chains closing locations by the 100's...2 clowns to choose from to fix it 😂...you can vote for tweedle dee or tweedle dum... they're going to fix it..👍
If you have a stable nuteral country to set yourself up in, do it.
I've owned my own business for a few years now. Don't make crazy money, but it's steady. I really appreciate not having to worry about getting fired.
Yeah, but Ive not been through a big downturn yet solely on my own income.
Stop Listening to Pessimists
Somehow, we forget about all the pessimistic things we heard in the past when they turn out not to be true. Yet we pay all kinds of attention to pessimists in the present. Quit doing that. They're the same people. Their crystal ball now is just as cloudy as it was a year ago or five years ago. If you feel you must do something for your future due to a pessimistic outlook, I would suggest you do the following:
“Invest like an optimist, but work and save like a pessimist.”
Yep
You don’t worry about getting fired but you should worry about going broke. There’s no guarantees in entrepreneurship, many fail, few make it
@@MV-df8jl obviously I worry about that, but that's why I work.
I live in a tourist town in Maine, and they are still coming and spending. I think that amongst consumers, they feel like they are on a sinking ship, and they're just going to live it up until it sinks.
Might be retired boomers.
And they are right- question is how much longer
Really…is that your analysis??? I just did a 8 day cruise out of NYC up to Maine and Canada last week. Was supposed to stop in Bar Harbor but they stuck in Boston. Did go to Portland (Kennebunkport) and other than a handful of people, everyone was older….probably retired and didn’t hear a peep out of anyone saying they’re struggling financially. Matter of fact, everyone talked about where they’d been this year and where they were going next year. I’m headed to St. Barts early this year, myself. Many of my friends have bought a place in New Zealand, just in case Trump starts forcing people to attend church as part of this Christian nationalism crusade or dragging people out of their homes because they’ve made fun of or negative comments about Trump.
Maine is such a beautiful State !!!
@@Skyking6976 You don't have to worry about Trump . he's not controlling are you kidding !!! You just go on your cruise and have fun !!!
Someone needs to make a movie about it. Just call it “Rigged”.
Fyi. Inflation is used to recalculate social security payment using inflation numbers from july aug and sept. Coincidence? I think not. Inflation numbers are used to calculate tons of things. They have huge motivation to lie about inflation.
@@venutoa yup
Always been this way. Rich can afford everything. Live modestly, do your best.
Just letting you know that, my raises have been minimal at best. All my income has been sucked up by much higher costs on maintenance and the relative 10 - 20% increase on everything, and that doesn't even consider the 250% increase in insurance costs. This economy sucks!
In 2003 age 39 I was part of the exsisting middle class for awhile had half a million dollars in debt, but by 2012
Sold everything became debt free, I still have the same job, but now that job is part of the working poor class, but I will never put myself that deep in debt again
Why didn't you improve your skill set/education/credentials? The only person you have to blame for still having the same job is YOU. Nobody is going to hand you anything. It's up to you be create your own success, Kevin. 🧐
@@DIVISIONINCISIONDoesn't matter the job. The KEY is becoming and maintaining DEBTFREEDOM.
@@DIVISIONINCISION Do you seriously think that person wanted a judgemental lecture from you? It's up to you to develop a smidgeon of empathy, Division. 🧐
Smart move
@DIVISIONINCISION thanks for reading,
I've had my own business for over 30yrs doing what i love witch is important for any career
Just in this economy your profit margins are lower ,you can only charge so much for a service that's highly competitive
Here in Australia with have a similar economy.
Im 65 , all im seeing is everyone driving new cars, new homes, new toys, etc. Spending lots of money, the finance companies money.
These people bave have negative money in their savings accounts.
Yes. It seems like people don't save money for something anymore. I'm retired and I operate from a comfortable budget. But I still watch where my money goes. I'll wait for a sale or set aside money for it out of my budget money.
@@Rhaspunand then you think, "If I can wait for a sale then I can wait forever. I don't need it".
Frugality comes from experience.
@@walsakaluk1584 And what's so great about such life? Especially if you're not poor and can actually afford things.
@@cannotwest what sort of things? There's wants and needs. I can buy anything I need when I need it. I also have a great, fully equipped and furnished urban cave. No debt, no rent...spoilt really. I have everything that I want. I can do what I have to and what I want to. I have a simple comfortable life.
@@walsakaluk1584 When things you use daily are of the top quality it changes your life experiences for the better. And the top things cost a lot, in fact, prices can go up exponentially for the best offerings. E.g. I like big comfortable powerful cars, you won't see me driving a Civic.
We are in the top 10 percentile where we live with no debt. We eat out every other day, but try to keep it below $50. I realized we can save quite a bit if i just get a cheap item on the menu, and eat something at home later. I was so happy they had a 3 taco plate for under 9 bucks today. Our cars are 6 and 18 years old, and my phone must be 3 years old.
Don't buy stuff with debt unless the interest rate is low, and you intend to keep it forever. I wouldn't buy a house right now unless you have the cash. Interest rates are too high, and the housing market is due for a correction.
Good advice
A huge warning sign is the fact Central Banks for at least the last two years have been buying Tonnes of gold. Not just U.S. Central banks but Central banks around the world.
When central banks buy a lot of gold it’s almost always a sign world war is coming.
The life lesson I have learnt is talking to my colleagues about finances. A lot of people have hit the wall because simply they are trying to live a wealthy lifestyle when they don't have the money. It's all a facade using the banks money and now can't afford. Be warned live within your means don't become a statistic.
Some should learn proper grammar before judging people's way of life.
I think social media has affected the spending by the poorly educated. Use to be we assumed the wealthy\celebs travel by private jet, live on fabulous estates and “worked” very little. BUT actually seeing videos of these people driving on the tarmac, having their cars unloaded, while they simply walk up the air stairs of the plane has created a lot of resentment I think. Like the pandemic, I enjoyed the time on my 13 acre estate, discovering Amazon daily deliveries, until I saw folks on state capitol steps demandin’ them there rights😳
The FED went from "Everything is fine" to "Our cuts will save the economy" to "The rich are saving the economy" 😂 more spinning than a vinyl 🙃
Wheels on the bus go round and round...........
If it wasn't so dreadful it would almost be humorous like that Iraqi saying that the armies of Iraq are defending Iraq in good fashion while the allied troops are ripping down statues of Saddam
I work full-time 40 hours per week plus Lyft 40 hours per week plus a social media channel and company. At a certain point you really can't magically make more money. If nothing goes wrong and I continue to rent a tiny room in a trash house and eat from a bag of Costco rice I'll be out of debt in 18 months. Meaning at 18 months I'll be at flat zero. Making money on socials is way harder than it looks. I start my masters degree program in August 2026 and I'm on track to start school debt free. Maybe higher income after (maybe not) but my student loan after grad school will be $1,000 per month for ten years. So yeah "go make more money it's America." One car accident or physical injury and I'm smoked.
BUT it’s capitalism…right? I got mine, you get yours, even if mine was simply given to me by virtue of who my parents were??? I’ve wondered over the decades how long an economic system would last if people like me could simply get educated, travel, enjoy life, never have kids or a job…all perfectly legal. Now we’re finding out.
Don’t go to school if you do go to trade school, education is a ripoff
pay the less debt , and so on .
I know a dude , he's a doctor now , and he paid his college loan and now he's debt free .
he always worked 2 jobs and he's a huge saver , always have been since a teenager too .
Just don't give up , work hard and pay off when you can .
@@debbiec6216 thank you for the kind words. I will keep working on paying the debt. I appreciate knowing there is hope if I stay focused. But wow my goodness it feels like a long road.
All this credit card debt and it’s not even Christmas 🎅
@@black2785 santa is a communist
Wrong.
Solution? Who is going to change it?
80% of people can spend what ever extra time they have on worthless Hollywood movies, rather than actually educating themselves and their families, so they can "really" make well informed decisions about themselves, their family, their community and then finally, about the country.
Change happens at grass root level, but the people at grass root level (who are suffering the most), are not willing to put the due effort, and it is getting worse. That is the problem.
all you need to do is look around america. go into the stores and see whos buying what. things aren't adding up. only debt is adding up for most people. it's a bubble. it's going to pop at some point.
I got out of all CC debt yr 2000. I hated that feeling of owing that money plus interest the 1st 20yrs of marriage! Made me sick, mad that these money entities, we're making money off me with that interest, we said no more.
Don't understand how these people can sleep at night. Owing that much money to credit cards!😮
I drive long haul truck and am in and out of dollar general, sprawl mart all the time getting water, snacks, food for the road. This past year I watch people shopping using their phones calculator costing out a product and totalling their lists. Often they'll put a product back and I see a lot of "off brands" being chosen.
They don't have the money.
This is a go-to channel for economic news.
0:39 correct they only pay attention to the shiny houses on the hill, not down in the valley where the chemicals spill...
Is this a reference to the oblongs?
@@bloodybladenum1920 yup! Here's a 🍪😁
I agree with you about stock market , problem is the govt has learned to manipulate the money and keep on kicking the can down the road with new ways to finance debt. When it crashes I feel the same it’s going to be a catastrophic event.
Check out mmtlp...sec robbed 65k share holders... pure fraud
YOU BETTER BELIEVE IT 😢
So here's the thing, even if market drops 60 to 80% , yes Boomers will be wiped out. What we will see is a slow decline of America in Standard of living, for the foreseeable future along with inflation. Hint-since barack obama days, he told us to our faces and that Hillary&Dems would be here to help manage our deline. 😮
I remember thinking WTF. Just like him and this administration has hasten us over the cliff with them and Congress passing these Bills last 3 yrs. Not even Trump will be able to save us from this Deline.
Neither will. 🎉
Its why I'm holding reserves and have "Buy" orders in place for several stocks for when they break and drop to absolutely ridiculous levels.. Buy low, sell high..
A lot of money gets pumped into the market every year via 401k's.
I started living in a tent today. I own a pretty good size piece of property in South Carolina debt free. I want to build my house the same way.
Btw I make over six figures, so look down on me if you like.
Living the dream, man, living the dream. I think if we all did this, it’d be the most powerful and peaceful form of protest. they rig the game, we just refuse to play.
Get rid of your homes if your stressing. Buy an RV, and have a couple of lawn chairs. Roast some marshmallows, and enjoy life.
RV life has become unaffordable. Do you know how much it costs now to fill up an RV with gas? With all the extras you need, little alone maintenance and renting spaces to stop at?
You a boomer or a Jew?
Yep, did that for 5 years after selling my business and home in the north bay area of CA!!!
@@BoucherYe Huh? I'm an American - which used to mean something more than it means today.
@@BoucherYe I own an RV. I will sell it. I own a mobile home.
The middle class is basically no more. You either got it, or you don't.😮😢
You've either invested or you didn't.
My brother is in his 60's and hangs out with several Halloween fanatics that decorate their homes with electronic and automated figures and display items. He actually repairs much of the electronics and the hydraulics for many of these people. A group of them went out to two haunted houses last night in Illinois. They paid $45 and $50 entrance fees per person at the haunted houses. How could a family afford that? They can't! These costs are totally ridiculous. Something has to give.
You should see the prices of Disney and Universal Halloween parties
@@magicparkmemories I'll never go back to Disney because of their Woke ways. I am sure they are doing the corporate thing and seperating people from their money.
They gym I go to is so empty compared to 4 years ago. its only 20 a month and no matter what time I go there is like 8 people there and it's a huge gym.
An easy expense to cut. I did it as are friends, who are unsubscribing to multiple streaming channels, eating out at pricier restaurants, upgrading their cars…
True, I noticed this trend too. I remember even last year my Gym ( located in Financial District) was pretty packed on weekdays. Nowadays not as much.
I can’t cut the gym 😢it’s the only thing that helps me feel like I can cope 😔 but I kno one day I may have to. I go to planet fitness. Yes the gym is more dead where I go.
The Fed? You mean the Federal Reserve which is NOT federal but private banksters? The banksters don’t care about us! Ugh…
The Federal reserve was created by bankers to enrich private bankers. Pure evil.
No , the federal reserve has tried to do the right thing but democrats have stopped them under threat of prosecution on account of the election. Everything is a lie
Too much prosperity is bad for the loan business
Gangsters, not banksters. 😉
Just say jews
No job, no debt. FREEDOM!
Sorry Michael -- The last 3 major recessions (1982, 1990, 2000) were not caused by lower consumer spending, but lower corporate spending. As companies do not build or buy new equipment it causes layoffs at their suppliers, etc., etc., etc.
@@factsplz2248 why you sorry?
Rich people and illegals are definitely living the good life.
Yes and Harris will keep it going.
That has been a cop out for my entire life.
Actually that's BS from Fox News and newsmax. Stop blaming your troubles on the poor they are not the cause of it. Illegal aliens are not leading the good life . The rich are the ones who are screwing us over they've been doing it now for decades and decades.
What exactly have you done to help make YOUR SELF successful? Living comfortably is a mindset and takes a long term plan and work to get there.
I would say the Rich people have a bit of an edge on an illegal working slob.
Living in California most of my life ruined me financially! I hate that place. The best thing I ever did was leave there.
Thats awesome. When i look to leave...the pay elsewhere is so low that i dont know i would get ahead.
been trying to leave but nobody will hire me until I am already local in that state not to mention much less pay
@@tobyk5149 yep. It's not easy
@@ColetteSpencer-k5oas someone who moved from ga to la its all relative although la is def more expensive its not easy anywhere food is damn nearly the same cost in ga
Unless you are 20ish, perhaps ask yourself why you lived in one of the states with the best public education and most career opportunities available but blame it for your problems? I just turned 40 and have a great career from an affordable 4-year CA state college.
I have many friends with a similar story to myself and we also have friends that went a different blue collar path and still have a great life here. We are all cut from different cloths, there is no one special formula (other than being born into money) to live well in a high COLA.
Don't get me wrong, I would share the sentiment that California is a really rough place for people to come in and expect life to be great but at some point when you're somewhere long enough you need to figure things out... Adapt. If you started here at a young enough age no matter what income demographic you were (mine was quite low to start in life) take a hard look in the mirror.
Michael Bordernaro just put the nail on the head. The reason that stadiums and concerts are full still is because a lot of people are spending money that they really don't have and are just using a credit card to pay it.
Yep his recent video covered CC debt new all time high 1.185 trillion
@@E.S.86 He basically just said why my ticket flipping business is doing so well lately. They are using their credit card to pay for the tickets. This is wild, but he is telling the truth.
@@jamaalbarnes5392 check out financial audit with caleb hammer he goes through people's cc statements and it's hilarious.
Not exactly what he said. You seem to inverted it a bit. What he said is that the wealth disparity in the US now is so top heavy, that even though so many Americans right now are struggling to even go to the grocery, because the rich have gotten even richer, have so much MORE wealth, that they are making it look as if the economy is healthy - when it really is only healthy for the plantation owners - while the majority of Americans are pretty much wage slave cotton pickers.
@@jamenta2 They are the main ones out here buying these concert and sports tickets and if the poor are buying them, they are using credit cards to pay it. What you just said is very true. America’s future is cooked for the poor in this country.
How many raises per year do they think we get?? I got a 93 cent raise in August and had my hours chiseled back so now I make $120 less per week!!! I’m OVER it!! I’ll be dancing in the street when I leave this “family” business.
We aren't employees. We are labor costs to them.
@@runswithraptors Right on!
The LLC took out a loan from the bank on that million dollar home 🏡 and have no intention of paying it back
It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to use what's left to invest, but I don't really know which way to go.
I understand how you feel. It's a little bit difficult to navigate things these days. You don't wanna lose whatever is left. I may suggest that you find a financial advisor who could give you thorough advice on how to go if you want to go the investment route. Also, the fact your business failed doesn't mean you should give up.
The issue is people always have the “I’ll have to do it myself mentality” Unapologetically, that’s why the get heavily affected during a crash and coupled with the fact we’ve had the longest bullrun ever in the American history, most folks aren’t equipped to manaqe this crash and it’s impending opportunltles well enough, so it only makes sense to seek proper guidance during these times, that’s what lnvestment-advlsers are for, been using one ever since the pandemc 2020 and I’ve been barely affected by crash, I have $850k in profit sitting in my portfolio and I’m unbothered about the market outcomes.
That's fascinating. How can I contact your Asset-coach as my portfolio is dwindling?
Her name is “Rebecca Nassar Dunne’” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
I just checked her out on google and I have sent her an email. I hope she gets back to me soon.
A good example of the rich doing well. There was a house for sale a couple of months ago in San Francisco. It used to be own by some actor who was known to party up pretty hard there. Then it was sold for $11 million. That owner stayed for a few years and started doing some remodeling but the pandemic hit. The new owner decided to move to Colorado. The owner came down on price to $8 million initially but no one bought it. The owner finally lowered it down to a bit over $3 million. It's actually a good buy at that price. If I had money I would buy it.
But what struck me was how willing the owner was to take such a big loss from the price he had paid. I can't imagine losing several million like that.
The only people I see rich 🤑 people doing well and the other people is doing very bad 😔 and rich laughing at people being evicted and being homeless I'm surprised it no evolution or anything to make their life uncomfortable 😣
Some people have more money than brains.
All these issues stem from an economy grappling with uncertainties, including housing problems, foreclosures, global fluctuations, and the aftermath of the pandemic, leading to instability. Rising inflation, sluggish growth, and trade disruptions demand urgent attention from all sectors to restore stability and stimulate growth.
With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the Dollar's perceived safety. Worried about my $420,000 retirement savings losing value, I seek alternative security for my money
With my demanding job, I lack time for investment analysis. For seven years, a fiduciary has managed my portfolio, adapting to market conditions, enabling successful navigation and informed decisions.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Stacy Lynn Staples is the licensed advisor I use. Just research the name. You'd find necessary details to work with to set up an appointment
Thanks, I looked her up on Google and was very impressed by her credentials. I reached out because I need all the help I can get. I've scheduled a phone call with her.
Anyone else find it relaxing to listen to Michael tell the bad news while strolling around nice neighborhoods?
😂
😂😂😂
Aha 😂
The reality is Everyone likes to hear bad news so they don't feel alone😂
Peoples are using their credit card and default on the balances🤦♀️🤦♀️🤦♀️
Just read "Forbidden Laws of Wealth" by Victor Hayes and I can’t believe it’s so underrated. Methods in this book are next level, it needs more attention!
Stop Listening to Pessimists
Somehow, we forget about all the pessimistic things we heard in the past when they turn out not to be true. Yet we pay all kinds of attention to pessimists in the present. Quit doing that. They're the same people. Their crystal ball now is just as cloudy as it was a year ago or five years ago. If you feel you must do something for your future due to a pessimistic outlook, I would suggest you do the following:
“Invest like an optimist, but work and save like a pessimist.”
All Americans should be invested in good no-load mutual funds. You can invest $50 a month, even if you are a low-wage earner. The stock market is a hedge against inflation. I am retired and my net worth has been increasing and not decreasing. But, if I was only relying on Social Security I would be sunk!
When I was growing up in California it felt just as you’re describing. As a high schooler I always wondered how anyone lived well where I grew up. Now that I’m gone I finally feel like I can do well enough to let my family breathe, even now despite the current economic situation.
The Elite want it all!😢😢😢
3rd try....
It's not going as they planned...
They're losing Deutschland....
@@geocam2 What's funny about rich people complaining that poor people don't work and are a drain on society is that every rich person does negative work. That is, it takes far more work to accommodate their life than their labor could possible produce. They are the real drain on society.
4th try....
They seem to be winning here....
But not everywhere....
That's a secret cuz we don't have the 1st...
They have it already!
They're so rich I didn't even hear a grass trimmer or blower like Florida's constant background noise.
Thats because nobody lives there or the property maintenance firm is just in another part of the area right now 😂
They do have them , people living there have the works, maids, gardeners etc
You got that right.. you have no idea..how that is so true omg
Cali is going electric for lawncare and also things dont grow as fast here.
Michael - it's not so much a lack of financial education (although that is a factor) as it is a lack of financial RESTRAINT/DISCIPLINE. Few are willing to save the money first before doing that renovation - they just have to get it done NOW. So, they end up going into debt to make it happen and then get into trouble when they fall behind paying it back. I bought a fixer-upper and need to remodel two small bedrooms and my living room, but I don't have the cash to pay for the drywall. So, for the foreseeable future I'll be looking at bare or insulated walls until I'm able to pay for the renovations outright. I refuse to borrow the money from a bank or get a HELOC just to finish the reno now.
Believe it or not, Americans are among the hardest and longest per hour workers in Western society. The problem is not that Americans lack restraint (or are lazy) - the problem is, as Michael says in this video, is the rich are getting even richer - making it appear as if the economy is doing great - when in truth it really isn't doing great at all, and the country is headed for another financial crash.
Buy the drywall little by little ~Cash & install it yourself 😂🎉😅!
@@colinchampollion4420 Do you ever bother listening to Michael or anybody but yourself colin?
Funny, I don't see busloads of illegal immigrants being dropped off where you're at!
True that🎉
TIBURON(shark) CARTEL
Funny isn't it - how the Rich got you blaming the poor grunts mowing your lawn, instead of your boss driving a Maserati with his 4 month vacations. You've been duped and don't even know it.
Then they're not really rich and we need to enrich them with bus loads of immigrants. I envy their soon to be realized cultural gains
I have never seen that either. Anywhere
It's the well-to-do vs. the roaches. They don't want to have to deal with roaches, so they (we, the unwashed masses) can just starve. Sickening!
When has it been different? Duh. I’m 50 years old there’s always been the have’s and have nots
The have nots are more in number and they're sick of it.@TruckerLerone
Charles Dickens wrote about it. "It was the Best of Times, it was the Worst of Times."
Laissez faire capitalism has its origins in Social Darwinism. Yes, the rich do think it's for the best that you starve.
Do you want to become a successful economist? Tell the rich what they want to hear.
@@lisabeam8315 You obviously didn’t see the 70s and 80s then if you think there are more have nits now youngin. Life was way worse then
Get out of debt....work two jobs if necessary. I did eight years ago. Sold house in 2021. Living much better now. Renting.
I don't think you realize how much different life was 8 years ago...
Renting is dumb advice nowadays
Thank you for all of your work and the great information you provide. I'm retirement age and am taking management of my own retirement funds. It's a bit daunting, but leaving them in Bank or savings has not proven very profitable. I also have a shark mentality, keep moving...keep learning. I have learned so much in the last 2 years about investing, Options, and Crypto but still have mountains more to learn. It's not as daunting when I come across someone like you who is wanting to share your knowledge to help others and truly cares about bringing others along with you....... I have managed to grow a nest egg of around 210k to a decent 732k in the space of a few months... I'm especially grateful to Sandy Barclays, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
Sandy Barclays program is widely available online..
New survey has revealed rising adoption of cryptocurrency among the world billionaires, as they start experimenting in the digital currency, expanding their investments portfolio beyond traditional profitable assets.
Over the years, I've been a part of numerous trading programs, sifting through a barrage of information. Yet, nothing has come close to the sheer clarity, depth, and precision of Sandy insights. It's akin to finding a diamond in a coal mine.
Sandy gave me the autonomy I need to learn at my own pace and ask questions when I need to she’s so accommodating.
When it comes to investing, we want our money to grow with the highest rates of return, and the lowest risk possible. While there are no shortcuts to getting rich, but there are smart ways to go about it.
Moved out of CA thanks to you and Briggs. House only cost $85k I am broke but don't give 2 shites about the economy. Thank you for the world updates though. Keep up the good work.
I stopped buying the Samsung Galaxy S line and went with the more budget-friendly Galaxy A line. I cannot justify a cell phone costing about $1000.
Just wait till next gen comes out and buy at 70% off.
I buy refurbished older gen phones, $300-400 for a top model phone that's 2 years out of date.
I use a flip phone that costs $30 and $25/month. My tablet cost $130 and I use wifi. Each will last 4 or 5 years.
I paid $42 for my last new smartphone last month. It'll last 2-3 years just like the last one I bought.
Was offered an "upgrade" for 100$..? May buy one even without removable battery if they teach me how to remove sim card..i had to replace cord and charger to ,"repair" old one...at 37$...not old style replacements..
To me, southern Florida is for millionaires only now. Make that multi-millionaires. And I imagine servants will be in quarters located here & there to service them. And that'll be about it except for whatever successful store or business owner ?
It actually makes me so sad. my grandpa used to have a nice, little house right by an orange grove in Tampa in the early 2000s. now that orange grove is gone and in its place are houses it doesn’t seem like any of us could afford. really sad what’s happening to Florida. we have so much natural beauty and wildlife, and too see it all paved over to develop more properties for the rich is really sad.
I agree completely with everything you said. The people working in the engineering department at my company (high pay individuals, obviously) think the economy is great. My middle class friends at the trailer park (many of whom used to be able to afford nice apartments), and the few lower class people still able to afford to live there not so much....
Yep … not all my friends are engineers .. the contract engineers I work with know .. the ones that have worked at the company, I doubt know unless they have kids who didn’t go into the higher paying fields
It's not about "high pay", it's about protecting their money from inflation... The difference is less about wages and more about financial knowledge... Very few people grow wealth with only their wages.
@@joec5544g That's true. I'm middle class and struggling less than most $100k earners that make 3 times what I do. It's way easier to spend less than earn more.
And yet, most likely, they'll vote for the group of billionaires who gave tax cuts to the wealthy.
Good job, Michael. This is why I watch your channel. - RWJ
Sometimes, I think a lot of people spend money they don't have especially on home renovations or concert tickets is because they think that it can't be all taken away at once with so many people in massive dept. As if there's a queue to get through which will give more time to pay off the dept, no big deal. Or, they don't care because at least they got live the high life for as long as they did. Better known as "Experiencers"
Totally agree with Michael. I’m in the service arena and if you’re self employed we just keep raising our price onto these people that have big money so we can move up a little and survive but if you’re getting a paycheck from employer you’re falling down .
I’m in California so there’s big money
If you’ve been working in California during the summers for the past few years, including earning income as a UA-cam influencer, you would need to pay California state income taxes on that income. California taxes nonresidents on income earned within the state, which includes wages and income from activities like being a UA-cam influencer.
Regarding back taxes, if you haven’t filed California tax returns for those years, you may need to file them now and pay any taxes owed. It’s important to address this as soon as possible to avoid potential penalties and interest.
If you need assistance with this process, consulting a tax professional can be very helpful. They can guide you through filing the necessary returns and ensuring compliance with state tax laws.
I'm a nurse in NorCal. I make 4x what I made in Alabama. The cost of living in Cali is more than AL, but not 4x. Give me the money and I'll pay a dollar more for Mac& Cheese.
There IS another reason for cutting rates when they didn't need to. November 5.
Do you really think the poorly educated part of the working class that’s full of white rural rage and conspiracy theories vote based on the Fed’s discount rate? So…let’s say the Fed lowers the rate a full 1%. How many Trumpers will all of a sudden say gee…things are looking better, think I’ll vote for Harris???
You really think the poorly educated part of the working class will turn away from their messiah if the Fed lowers the discount rate say…a whole 1%?
As a conservative, i have a very VERY controversal perspective that my other conservitive peers dont agree with ...and this is my stance: The enemy of the people are the corporations and the rich people perpetuating the broken wealth innequality system. And before you tell me (no its the government) im not saying the government isnt just as responsible, but look at why the government is corrupt to begin with? It started with Reagan's trickle down economics in the 1980s bribes became legal with lobbying and the rich and corporations bought out our government and replaced our politicians with corporate shills.
The free market hasnt existed for decades, we live in a crony/runaway capitalist society where monopolies are allowed to exist, flourish and extort the middle class. It is unsustainable.
I'm a conservative too and I also believe this. Once you can lobby and buy the bills, you've taken over the government one leg. session at a time
It’s called crony capitalism. It’s not all capitalists
These aren't the same free markets I grew up with, as a matter of fact, I barely recognize them. There is a government program that basically pays employers via tax credits to hire people and the credits are large. Adam Smith would be rolling in his grave.
@@thepatriot9136Capitalism exists only as an ideal. In reality there is only crony or corrupt capitalism.
This post & thread is probably the most sane & accurate one I've seen on this comments section.
The company I work for is having their benefits renewal and they noted the premium has been increased by4.2% when they give their employees a 3% raise each year 🤔. I am new to this company only been there 6 months. We’ll see when I get to the 1 yr mark. 😅 time to look for a better paying job or a second job 😏
Our favorite local Italian restaurant has doubled their prices. We used to go every week or so. Now, we only go on special occasions. 😢 We eat at Culver’s fast food restaurant once a week now. It costs about $28 for two. In retirement, you have to find ways to still enjoy time out together.
Animal shelters are overflowing with cats and dogs... people can't afford to own their pets...
This is one of the true tragedies.
😊😊😊😊I plan on adopting in December and am stocking up on dog supplies now.
@@TwoPyramidyou are 100% correct
😢
I have a couple of rescue dogs that are fairly young and healthy now. But when I was taking care of a couple of elderly dogs nearing 20, the vet bills were mind-boggling. It seems like vet costs have tripled in the last few years. I can cover the food but paying thousands of dollars for vet bills down the road is stressful to even think about. And it's extremely difficult to find places that will rent to you with pets in some areas -- if you don't own your home.
Hit 250k today. Appreciate you for all the knowledge and nuggets you had thrown my way over the last months. Started with 24k in August 2024..
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 that you saved me from huge financial debt with just a small Investment, thank you Jihan Wu you're such a life saver
I'm favoured, 90K every week! I can now give back to the locals in my community and also support God's work and the church. God bless America,, all thanks to Mr Jihan Wu😊🎉
+852
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Wealth and the distribution of wealth is consolidating across all industries.
I’ve been purchasing metals the last three years after recovering from a debt issue
Thank you Michael for great reporting. We need to build tiny home villages for homeless & train them to repair roads & teach them Gospel.Proverbs 19:17
My parents neighbor just got a quote for her bathroom re-do for $18,000.. Pull linoleum, put down tile and concrete board, re-grout bathtub, new toilet, caulk, and replace vanity and sink.. Told her to pick out everything she wants and add it up then add $3000 for my dad's and my labor and supplies and I bet she stays under $10,000.. Guy who did the quote was shifty AF and my dad did not like him either.. Might take a week to do it since its really a small bathroom..
$18K for a new bathroom is standard price. I paid $18K for mine, exactly what you described with a nice glass frameless shower screen. Great that your Dad has the skills to do it himself. $8K back in your pocket.
It sounds like the floor is a wood subfloor if you need concrete board before the floor tile. You don't need to pull the vinyl up. Just screw 1/4" conc board on top of it. Makes an extra layer of moisture barrier. Used to be in the business.
@@rockyroad7345 Got to do a little subfloor work around the toilet and on one corner of the bathtub so pulling the vinyl to see how bad it is. Figured in one sheet of subfloor already along with new toilet flange. Dad and I did one bathroom in their house like 25 years ago and just re-did it again after 20+ years and had no water damage anywhere..
@@TheSuperdodgy I used to do a lot of bathroom remodels back 20 years ago and other than being a little slower I think I've got a few more left in me..
I don’t understand the problem. When was it ever cheaper to have a contractor do home renovation than to do it yourself?
Normally 8 MLB teams break the three million person mark in attendance this season only four teams broke the 3M mark.
9:11 i notice something mike, the streets are quiet.......reminds me of my 90's middle class neighborhood.....it still is somewhat, though to avoid the 100 million overpopulation growth that has been added to the country since 1991, one must become a member of the CARTEL DE TIBURON
You guessed her Chester…
You are telling the truth. The economy is not doing well and is weak in a lot of segments. But it is made to seem to the people that all is well😒
We need to lower taxes to 0, make government smaller, get rid of lots of regulations and get the American dream going again.
Love to hear a seller say it’s only this much as if anyone can afford it.
I totally agree with you about people in America putting everything on the credit card to go to a concert to look rich or look like they can't afford it and they really can't that's basically been going on in America for decades people taking out loans and borrowing money that they cannot afford in order to make it look like there's something or they just don't care about the future
@@crbbaldwin F them
I see another factor in spending A couple of things I notice .Alot of 500k, million dollar homes went under water literally in Pasco withlacoohee river area after Helene & Miltion.Alot of homes all around pinellas have piles of furniture out front even lawn furniture and washers dryers dont seem to be damaged .maybee 50% is .Alot of people are trying to collect insurance money if not then FEMA money .Another straw man on spending .
If you own property and have money in the stock market, you are doing great. I am fine, but my kids with good jobs can’t afford homes.
Trying to emulate a status quo is what gets people into financial trouble...🙄 I'm retired with a cute little house and no debt... Maintaining material stuff can become overwhelming...🙏
You know how you know when the bubble is about to burst? When everyone seems to resign themselves to the notion that "this is the new normal."
I don't live in the US but I see the same coming to where I live. I spend as little as possible, no keeping up with the Joneses.
It's a have or have not society. Record boomers retiring and unleashing their retirement savings. It's wild to watch.
If they're retiring doesn't that open jobs for younger people?
That’s capitalism…right? I got mine, you get yours. Isn’t that what Trumpers want…freedom to make money however you want…no handouts? Yet as someone from 3rd generation wealth who never wanted to deal with kids, just enjoy life, I hear nasty remarks from Trumpers all the time. Never taken a dime from the government, the family has paid millions in taxes with no complaints.
Best Content on REAL TIME ECONOMIC IMPACT. Make this go viral 👏👏👏👏👏
In 2008, people didn't get burned because the stock market was overvalued. They got burned because banks were pushing out subprime loans to anybody breathing for a house, then selling the loans on the market and lying to investors by telling them that the loans were AAA. Banks made a killing on the closing costs and fees and got the loans off their books. Then market investors borrowed trillions of dollars to buy those bad loans believing that they were AAA rated. When the interest rates on the loans reset and the homeowners started defaulting on the loans because the mortgage payments doubled and tripled, the market crashed because the investors couldn't payback the trillions of dollars they owed. That's what killed the economy and the stock market. Go see The Big Short.
@@MrMleewilson yeah so what is your point?
@@tobyk5149 That the stock market didn't crash in 2008 because it was overvalued. It crashed because of the dishonesty and greed of our nation's financial institutions.
Thank you to our host for this beautiful outdoor walk around segment. Good topic
Also check who controls US media and Congress. That gives an idea how US is going to help its own citizen (if there is any crumb left)
Oh wow…
AND when was that any different?
More importantly they control the federal reserve
We bought an old plantation era home built 1925 top of the hill overlooking the beautiful Pacific ocean. Only were able to because it was relatively low because of distance to larger towns. We were able to with 150000. It's not for everybody, but Big Island Hawaii has been great for us. Lots of affordable land if you wanted to build or even live off grid, but you have to have the funds or be extremely resourceful.