Will ‘Cost Of Living Crisis’ Get Worse? Why Consumers Are 'Getting Squeezed' | Tomas Philipson
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- Опубліковано 27 чер 2024
- Tomas Philipson, former Acting Chairman of the White House Council of Economic Advisors under the Trump Administration, discusses the causes of the "cost of living crisis" and why consumers are "getting squeezed".
*This video was recorded on June 13, 2024
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0:00 - Intro
0:30 - Cost of living crisis
3:28 - Inflation Reduction Act
4:42 - Inflation components
7:00 - Housing affordability
8:00 - Debt
10:07 - Recession outlook
11:10 - Improving real wages
#economy #economics #investing
What should be done to improve real wages and the standard of living? Comment below and don't forget to subscribe!
FOLLOW TOMAS PHILIPSON:
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My dividend journey began when I realized that two particular expenses in my budget were always going to go up and never go down. The two expenses were taxes and insurance. I realized that the dramatic rise in both will need some added income. So, I started buying shares paying dividends. I can now see that this will be the path I need to take to make sure those two expenses will not overtake my future income.
As a beginner, educate yourself, Learn the basics of investing and the stock market. There are many resources available online, including books, articles, and online courses. It’s a good idea to diversify your portfolio across different stocks and sectors to minimize risk. I’ve heard of people accruing over $550k during recessions and inflation, its important to do your own research.
...Yes, I've been in constant touch with a Financial Analyst for approximately 8 months. You know, these days it's really easy to buy into trending stocks, but the task is determining when to sell or keep. That's where my manager comes in, to help me with entry and exit points in the industries I'm engaged in. Can’t say I regret it, I’m 40% up in profits just in 5months with my initial capital of $160k
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.
I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance advisors you could check out. We have been working with ’MICHELE KATHERINE SINGH , and she's really, really good. If she meets your discretion, then you could go ahead with her. I endorse her.
...I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance advisors y0u could check out. We have been working with ’MICHELE KATHERINE SINGH , and she's really, really good. If she meets your discretion, then you c0uld go ahead with her. I end0rse her.
People will have to accept reality that we won't ever return to 3%. If sellers must sell, home prices will have to decline, and lower evaluations will follow. I now look towards the stock market to fuel my millionaire goal. Sure I'm not alone in my chain of thoughts
U.S. stocks have historically been the best investment. Treat it like real estate, don't panic sell and impulse buy.
I like both. But in my experience, most of the millionaires that I know have gained their wealth through diversified investments and they all had a sort of advisor helping out with informed decisions.
Agreed, advisors are the ideal reps for investing jobs, and straight up! that's how I’ve stayed afloat for 5 years now, accruing nearly $ 1m in ROI, after 100s of thousands invested. IMO, home prices will need to fall at least 40% before the market normalizes.
real estate prices exploded, interest rates exploded, but my wage the same, i'm screwed! who is your advisor please, if you dont mind me asking? in dire need of proper asset allocation
She goes by *Leah* *Foster* *Alderman* I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
House ownership: you have to look at the total package. Interest rate. Taxation (owning it, áll aspects of it!). Maintenance. Also: potential switching costs, when you want to sell and buy back or vice versa.
David Lin - hardest working man in show business
Waiting on the US to do what's right is going to be a very long long wait.
excellent point about predictions
Love the sub 15min of value 🙏🏽
That is 3.5% on top of 30% or higher.
Guest Speaker, how infantile to equate inflation theft to take home pay. Inflation steals more than anything from *savings.* Taking the simplistic viewpoint that take home pay can track inflation - which also presumes that the BLS gives an honest number which is a laughable absurdity - is ignoring the fact that actual bank accounts and actual people's money is being stolen by inflation. And I pray to God that you honestly understand that 20% inflation should be followed by negative 18, not by a return to 2 and calling that an equitable solution. If you don't, then it's clear which side you're playing for.
Very True. Many pundits imply that if inflation goes to zero, everything has been fixed. Obviously not true. The big problem is that every administration significantly outspends the previous one. We are now in a position where defense spending may go up significantly, in the future. That will all be done with borrowing. Not good for the average citizen. We are in the Fourth Turning.
Destroyed the middle class and not done yet. Deliberately
Nonsense. Money to be made everywhere if you want to work
Not if you are on disability with a broken neck@@MrSteeDoo
Simple terms...
2023 was bad
2024 (now) is worse
2025 & beyond is ugly
🙏🏼
Thank you
The first answer out of this guy's mouth got me to stop watching. Sorry
They need to build better multi family housing. You need to be able to sit outside somewhere in a pleasant natural setting.
Bravo David to always an awesome interview ❤️
Cut taxes for the riches and the poor will benefit. Ya Right, not falling for this lie again!
you must not understand economics
The poor pay mostly regressive sales and payroll taxes. The current tax "cuts" doubled the standard deduction and increased the child credit, benefiting middle and lower earners
It's been dumping and pumping in this range for ages! It's technically just going sideways, sideways means generally stagnant. More emphasis should be put into day trading, as it less affected by the unpredictable nature of the market. Trading has been going smooth for me as I managed to grow a nest egg of around 100k to a decent 732k in the space of a few months... I'm especially grateful to Tammy Brockman, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape.
Its all fun and games until .......
😁
Great info David! Well be soon releasing our video on consumers getting squeezed by the "housing shortage"
Hi David good information
My life makes way more sense that David has a doom and gloomer on. I wonder how much of the 234.77% S and P return 10 years ending yesterday 12.81% average annual he missed?
dependency on UBI via CBDC is going to be the result... why are we still having conversations?
Because it's not over till it's over.
Our economy could be fixed if all states would legalize Marijuana and take 50% or more of the taxes and apply that to the national debt plus, remove the spenders from the administration as well as significant reductions in the military budget, close bases all over the planet and bring industry back. That is a solution for us.
Grocery store having more problems not showing shortages in canned food. I don’t think it’s my imagination.
David my guy. The best on the tube!
This seems like the worst period. Even the market are now very unpredictable. Started investing recently when the market prices were a bit high,today I am more than 60% down!..
thats true VENTURING into the trading and investment world without the help of a profesionals, trading and expecting profit is like turning water into wine you would need a miracle...
Thanks you Christen wilburn Despite all the financial struggles i and my family faced, everything is finally falling into place! $67,000 monthly profit and riches I'll always praise the Lord!!!
Christen wilburn was my hope during the 'bear summer' last year. I did so many mistakes but also learned so much from it, and of course from christen wilburn.
You trade ?? Wow that's huge, how do you make that much monthly?
Christen approaches trading in a completely unique way. I'm puzzled by her methods. She just seems to have an innate understanding of this trading world.
Broke losers might want to hold off on that next tattoo.
Hi David! Do you have any shares of Victoria Gold? 😂😂😭😭😭😭😭😭
The next phase is when income drops by 100% and prices are flat.
Orange mom kee
Recession never official. Debt bought out.. 10yr under control. risk on.. rich get richer. The beauty!
ThumbUp& LeaveAComment 4AIgozAll
Limited supply is a fallacy, there are thousands of acres of homes under construction.. + so many empty homes!!!
Prices are too high for poorly built homes.
Charging to much money for junk.
LOL you ain’t seen nothing yet. Wait until around 2030. You’ll look back to today as cheap living.
David your the James Brown of financial news. The hardest working man in news business lol keep up the good work! I’m having a hard time keeping up with all of your videos you have content non stop! Hope your taking some “me time” don’t worry we will be here. Challenge all of your guests as much as possible to get the facts as they see it! The MSM is dead so guys like you are the true news these days! Cheers man!
Make no mistake Trump's $8 trillion in spending is the inflation we feel. Biden's $4 trillion in spending hits later this year into 2025. Math is the only thing that matters here, the rest is hot air.
That has nothing to do with the dollar loosing value 😅
🤡. Even if you believe those things Biden spent 13 trillion in 2021. You’re wrong not once but twice
Biden has run up almost 8 trillion is deficits (same as Trump who's deficit was mostly in 2020 for covid). Biden spent over 2 trillion a year more in 2021, 2022, 2023, and budgeted for 2024 then Trump did in his 2019 budget. There is a big difference between Trump and Biden's spending and Biden is by far the bigger spender... Look it up.
This guy is a clown 🤡 no problem that we spent TRUMPTRILLIONS. Nothing to do with the inflation. 😅
David, I like most of your guests…but this guy is just a Trump puppet.
Good guest. Ban corporations from buying homes. It takes supply off market and they make cosmetic upgrades and raise the price significantly. Less housing supplies since off market (rentals/renovations) and existing supplies rise greatly in prices. What corps? Can't say on this website. Not the channel which is fine.
I can't afford to be in debt it's too expensive!
Great guest!!
NEXT????
If you’re using the cpi as the denominator then you’re off by 2%!
What a hack. Just a bureaucratic mouth piece
I went from shopping for a condo (didn't make it in time) to defaulting on 5 lines of credit and entering debt resolution within 3 years. I doubt I'm alone.
medical care model by Enron
nothing is even a question if it means something worse is coming
A few short form videos a week is a good idea. Maybe a weekly guest? Just my opinion. Good video
Hey start your own channel
@@Immigrationsituationwhat is wrong with suggesting ideas?
For the record... Trump's 2019 budget was 4.7 trillion. Biden hasn't had a single budget year below 6.2 trillion since he took office (2021-2024). Even though both administrations overall are running at $8 trillion in deficits, Trump's was primarily 2020 (Covid) while Biden has been spending 2+ trillion more than reciepts every year he's been in office.
They both suck
Please bring people are not partisan!!!!
Covid wasn’t even a recession by the definition. By the second quarter we were off to the races.
US has the strongest economy in the world. Record stock market, lowest unemployment, highest oil production. record travel which leads o lodging, car rentals and restaurant spending. record small business startups. The sky is not falling.
Overconfident lead to collapse.
Yes and all of that strength by adding 1 trillion to the deficit every 100 days. It's amazing how good things can feel when you spend money you don't have... Until you have to pay it back.
Especially, if you're not homeless or living on $12,000 a year. Everything is fantastic!!!😂😂😂
@@objectivethinker3225 Trump gave tax cuts that benefited the wealthy the most. By the end of 2025 the Trump tax cuts will have added 4.5 trillion to the national debt. 85% of that went to the wealthiest. that's 3000 billion and 800 billion 25 million dollars. Trumps presidency added 8 trillion to the national debt. That's more than any other president in history.
What century was it the last time YOU looked for a job? Your comment is delusional.
Lots of people go into debt up to their eyeballs just not to "look broke".