The United States as we know it is no more. All signs point to 2024 being a year of significant economic hardship for the entire nation. Put your cash to use straight away to increase its value. I was aware that I needed to invest. I had no idea how quickly a few thousand dollars a month would go up. Though it is. Since 2020, I've made about $600,000.
Congrats. Your ability to control the whole risk profile of your investments and prevent irreversible capital loss will be your actual financial unlock. A plan must be in place to take advantage of opportunities to profit when they arise.
When you first start off, you should get advise from a fiduciary counsellor if you don't want to crash and burn. They adopt a profit-driven approach based on individual risk tolerance because their entire skill set is built on simultaneously trading long and short.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Sophia Maurine Lanting” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I'm retired and Social Security will only be 2.5% COLA that is poverty. Congress can give Trillions to other countries as the Elderly are kept in poverty.
It's bad for the old and it's bad for the young. I'm forced to pay into a Social Security system that will be long gone before I'm old enough to get any back. My generation will forget the meaning of the word "retirement."
There's a reason why so many people who are retired or become disabled are forced to downsize because there's no way their Social Security can keep them in their house so they either have to downsize, rent a small apartment, apply for senior housing or go into a retirement home.
What kills me is why the hell is the perspective and or hopeful buyer I’ll be home paying for those property taxes and insurance annually in hopes that they may make that final payment to get the two that house or property which is a single-family dwelling these banks who owns his property deeds will never ever lose worst case scenario is you pay off the deed and get the house but you’ll always pay those property taxes which will always go up when you’re 75 years old how the hell can you afford the property taxes would you never negotiated 50Ago when you bought that old house
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.
Thank you for this tip. it was easy to find your coach. and I conducted thorough research on her credentials before scheduling a call with her. Based on her résumé, she appears to possess a high level of proficiency, and I am grateful for the opportunity to speak with her.
Sorry to say but the USA is in a steep decline and unless people from the bottom up demand change and accountability nothing will change. Voting for president and congress by itself is not enough. People need to raise up and stop being so passive.
We are not like the French who do seem to be able to organize a people's demonstration. The US system has the elites and enough of their schills who shame anyone who validly complains about the kleptocracy as being a 'socialst' or 'communist'. America is a status driven culture, and the aforementioned elites/schills validate their sociopathy by beating up on the 'losers' in a 99.999% loser-generating system. Smh...
I did some traveling for business this summer. The only place I saw the economy doing well was the “ Washington DC Northern Virginia area flush with government money stolen from the taxpayers.
It's the best thing to do taxes are crazy than batpoop , u know u can still make your own business if u understand what I'm talking bout , these banks are in trouble hard times to have cash on hand try to drain your cash out as quick as it goes in it , it's been a terrible year for me too no business but barely making it month to month ,next year is much worse
@@Horatio1886buildlol yeah apparently one of the major signs of international conflict is pizza places in DC will get slammed with orders. When the nuclear Holocaust starts, Papa John's is going to have a good night in the end
Mine is dead. I have to revamp, reorganize, and totally change directions. That's after doing well all through the stupid lockdowns. But LOCKSTEP is in full swing now with their biggest weapon against small businesses: A.I.
Mine are $2,200. I'm not defending this economy, I hate it. I'm just saying I choose not to live in one of those overpriced municipalities. I live in a rural area
The government is clearly under globalist control. "You will own nothing and be happy" Property ownership is being eliminated via taxes, insurance, HOA dues, interest rates, etc.
People living on debt, not saving, expensive houses, cars. And PHONES. If people all had to pay with cash there would be a new appreciation for the value of money like they had in the old days. And prices of everything would come crashing down.
Working for a small credit union in the past year i am seeing a ton of members being late on loan payments, surrendering their cars or them being repoed, mortgages getting close to forclouses, and helocs being maxed out.
Over the last two years, I've seen multiples cars and motorcycles being repoed in my area. I don't know the people, but this is a new build area, homes in the mid-300's.
@@SomeUserNameBlahBlah I mean late payments turn into chargoffs and other issues. During normal times chargoffs and other issues with foreclosures and repos is about 1% for the credit union I work for. Right now it's at about 4% of our members who have a charged off loan, credit card, charged off checking account that was in the negative for more than 90 days, car repo, or foreclosure. Actually dealing with a member currently who has been late paying on her mortgage 34 of the 35 months she's had the home and for the last 6 months the state of Kentucky has been paying her mortgage, however she only has 6 more months of that before she has to start paying back the state also. I figure either we will end up forclosing on the house or she will sell it and walk away since she really has no equity in the home
If someone used a HELOC as a long term loan and not as a short term loan with a plan to put that equity back in 3 years or less... Well, they made a poor decision. 😅 Most people don't understand that HELOC rates are wildly variable. 🤦🤷
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
Carol Vivian Constable is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
You clearly don't understand macro economics or how a fiat currency works. We The People are victims of a ponzi fraud which is the dollar. The globalists who control all fiat currencies in the world have counterfeited the dollar by more than 40% since 2019. These globalists are continually taking more than 40% more of peoples paychecks in addition to what they were taking before 2019. Inflation is a continual tax. Wrap your mind around that fact then try to regurgitate your BS "living above their means" statement that blames the victims.
My neighbors across the street whine all the time about how they don’t have money and complain about gas prices and food prices but they just financed a $3,500 vacuum ! They are out of their freaking minds !!!
My neighbors whine about not being able to pay their bills but they just financed a $3,500 VACUUM! A stupid vacuum ! Financed it ! Oh my lord ! Crazy ! I don’t get these people
I didn't even know there were ones that expensive! The last one I bought was a shark, on sale for about $140. It's still going strong about 5 yrs. Hope it will last a while since the previous ones I bought (not shark) lasted only 4-5 years. What are they going to vacuum with that anyway?
@@happyzahn8031 It apparently sits out in the middle of the room and sucks in on its own all the bad air. I rolled my eyes !! And it has to stay plugged in all the time for it to work. There goes their electric bill ! Apparently they bought it at a Fall Festival in our town. Someone was peddling these.
It sounds like there's a worldwide Mafia going on and everyone's government it has a hand in it. Every government on this planet is linked to one worldwide Mafia
@@blacksilverchair3315that doesn't even matter, that's not who's in charge and not who's controlling things! Those people are mere pawns in a game! You got to look at the bigger picture!
I am almost 71, retired since 62-1/2, house is not paid for, but I pay all my bills on-time and do not have a boat load of money in the bank. They are doing something wrong.
I am pretty much buying necessities. If I have an emergency, it's game over. There are many people to blame, including myself. Had I known 5 years ago, the economy would be this bad; I would have prepared better. I'm not sure this situation can be fixed, or how. Thank you for the videos.
Thank trump for the 7.8 trillion in deficit spending that tanked the dollar. Still handicapped thanks to the "tax cuts and jobs act" that doesn't expire until 2025...
You can generalize that to mean they're stupid. I left the US years ago knowing the economy would get worse. Though, you don't know. Maybe they're typically frugal and caught them at a moment buying dumb shit.
My late wife never understood why I made sure that our mortgage could be paid in one check I never had more than a single car note and the cars were never newer than 5 years old with at least 50,000 mi on them. She especially hated it when I used to tell her that she was the most expensive bill that I had out of all of the bills that I paid, now I pay everything in two checks. Most people including my late wife Max everything out and run their finances to the edge, so that now inflation has hit every household that they can't afford to adjust. Before anyone comments no I am not a boomer I'm a gen-xer and I'm very paranoid after a failed business and a crash in my finances during my early thirties, those hard learned lessons in that hole that I had to dig back out of taught me to always live way below my means.
Same. I make a decent living but 'live' off of about 30-40% of it. Car paid off since 2016 and runs fine. No credit debt--if I can't pay for something, I dont... If you can 'be your own credit card' and borrow from yourself and pay yourself back at 0% interest, than do it.
@@alanheadrick7997 they Don't call them dragon ladies for no reason, Asian women are kind of notorious for hoarding all of the money and treasures for themselves 🤣
Works for me. I pay as I go. Have zero debt, no credit cards. I live on SS disability for 20 years now. But I have made investments to give me a monthly income outside of Government. If you count on them you are counting on guys like Joe Biden. You will eventually be sorry. My ex is in debt up to her eyeballs. Sure she has a new car, new house, credit cards. But she has trouble paying her bills!!! I don't want that stress in my life....
Yes they can with the amount of money they’re making selling sugar and salt they should be able to hire an arm security guard to nighttime hours and if they don’t then they’re too cheap and it said shut up and not rely on public services as their own personal private security protection
@davidOConnor-z3l If anyone tries to fight back against "the certain demographic" they'll go to jail. Get your head out of the sand and look around what's going on in America.
Nope Fox news just said unemployment is only 4% and inflation is only 2%. Don't pay attention to the fact that cars, electricity, insurance, food have all gone up 25%-100%.
Media lies television is telelies , doing your own research of facts is better , I don't believe one word the media brainwashing controls say about anything, it's take a look around do your own journalism talk to people you will wake up real quick usa economy is gone
I 100% agree with you that inflation is around 100%! I keep seeing all these super low numbers being talked about when it comes to inflation but it seems much higher to me. Prices have doubled for a lot of things.
Absolutely. Think we’re already in a depression Great or small …beef went up 3.00 a lb in like one week.. maybe it’s just California since Texas lives behind the Iron Curtain…
Your information is valuable to me. On the information you provided, I sold my home in Florida in July and now I’m renting. I even told my realtor about your channel. My kids and myself are so grateful i did not have to go through Hurricane Helene and Hurricane Milton. I look forward to learning more from you.
Boeing laid off 17,000 people. 10% of their workforce. Ouch. They probably should’ve started with 80% of their management being laid off, but I bet they didn’t.
The CEO Boeing employees thousands have been laid off after Boeing took all employees HEALTH INSURANCE AWAY. They are laying off EVERYWHERE using AI ROBOTS to replace human jobs. UNITED NATIONS REQUESTED that "AI ROBOTS TAKE OVER HUMANS JOBS" through out the entire world. My friend a truck driver OTR has been delivering ROBOTS to manufacturers and buisness for last 4 years THIS IS VERY TRUE. No one will be left with a job or income to be able to afford to survive on earth THINK ABOUT THIS? TO SAVE CORPORATIONS BILLIONS & ROBOTS BUY NOTHING or PAY INTO TAX REVENUE like HUMANS DID. Everyone better get ready to become homeless and penniless by UN that all countries leaders are doing?! Pay off EVERYTHING asap!
Let this be a warning to others. I have a very high income and I'm in my mid 30s.. I'm going into hibernation mode. Like he said, they are increasing the money supply by lowering rates... this is the opposite of what they would do in a healthy economy... Save your money. We are in for a downturn like we've never seen in the past.
it will be hard. We have a bunch of soft people coming onto hard times. I'm not voting for ANY incumbent that has voted for money to go over seas since January 2024 and loose boarder control. Period.
I live in Michigan, roads are packed, restaurants packed, stores packed, casinos are packed. Stock market is good. This guy makes money being the voice of DOOM.
Okay, so what? Where I live here in South Carolina the roads are packed, stores are packed and restaurants are packed. That doesn't mean a significantly large percentage of the population isn't struggling financially. You have to know the finances and backgrounds of the people in those stores and restaurants. And you have to then take survey of how many more people could have been out and about before this inflation hit. No doubt most everyone says they have it worse than they actually do but times are tough for a lot of people. I had a much larger financial cushion than many and a lot of what I was able to do financially has been curtailed. I can pay my bills but that doesn't mean the margins between what I have left over at the end of the month haven't decreased a lot. Using basic optics like you have to judge the situation is something many folks do but it's not an accurate way to assess the situation.
Which is what America is all about - hard workers make MONEY, lazy social security welfare queens don't work. Just take, take take! President Trump will end this obscene socialism of socialism security!
There is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. I plan to retire at 62 in another country outside the US that is free, safe and very cheap with a high quality of life. I could fully just rely on only my SS if I wanted to when that times arrives but I'll also have at least one pension, a 403 (b) and a very prolific lnvestment account with my Abby Joseph Cohen my FA. Retiring comfortably in the US these days is almost impossible.
I know this FA, Abby Joseph Cohen Services but only by her reputation at Goldman Sachs; even though she's now involved in managing portfolios and providing investmnt guidance to clients. I have been trying to get in contact since I watched her interview on WSJ last month
Great share! Out of curiosity, I searched Abby Joseph Cohen Services online, found her consulting page ranked at the top, and scheduled a call session. I've read many reviews about advisors, but none seem as impressive as hers.
Recently went out with a friend for lunch that I treated for. She has no money and maxed out on over 10 cards I offered to treat for lunch but she wanted a special margarita not the house special that was $5.99. I said if you were going to order an expensive drink, I’ll pay for everything else. So what a surprise, she ordered a margarita that was $22 with Chip! She’s in her late 50s, has no money, no real estate, maxed out all her credit cards which are over 10 AM is now moving to find a job in another state. are you surprised she’s so broke? I live frugally, eat the house specials,. House is almost paid off and I have no credit card debt. When you buy $22 drinks, what do you expect?
What do you expect taking broke people out to EDD all you can eat or free or at least paid for lunch? Come on your way being a big steak in front of a hungry animal and what do you expect they’re gonna do? Everyone is broke as a joke and you’re a hypocrite because somehow karma will get you if you keep talking like that
Who can afford to eat out anymore? I just stopped eating out all together and am starting to grow my own food. Watch next theres going to be a....grown food tax and a meat bird tax.
not every country. vietnam and thailand are doing pretty good. bangkok looks like tokyo these days and norway's govt pension fund has topped $1.7 trillion
Hey Michael: I will be 64 years old in February 2025 I have been working since I was 11 years old. Started working with my dad at that age because he was a self employed plumber and often needed an extra hand. My dad taught me many things from plumbing to carpentry to welding my dad is gone now, I have been working as a welder for a local mechanical contractor. This year my health insurance went up 40 dollars a week add that to the cost of living skyrocketing double whammy. We are scheduled to get raises this year but what they would have to to give every employee to compensate for the double whammy is just not going to happen. So this will be the first year in my soon to be 53 year career that my raise will literally do me no good, first time ever.
Old guy here, born/raised in Rockford, retired teacher and still driving a school bus in Texas. I watch most days for entertainment and information. I don't know that it affects my lifestyle except I do have more knowledge than most folk I talk with about economic situation. I live in a pocket of the US that hasn't been greatly affected by the downturn, so most folks are oblivious. Amazes me. Thanks for what you do. I just wish you'd ALWAYS tell where you are as I love to look you up on google earth! I'm pretty easily entertained. Best wishes.
you mentioned the N. East and you are correct the market INSANE here. I live in Fairfield , CT and the prices of homes specifically are very very high. I paid 238K for my condo 10 years ago and they are selling for 390K and new post to MLS is asking $439K its just wild. The housing tax is very high here and since we are from NYC we are used to smaller spaces and never upgraded to a bigger home. The homes here are literally old, oil, not great selling for 1mil. If you want anything renovated 1.3. they used to be 850k for renovated. A friend of mine paid 700k for a lilttle tiny no backyard home adn now told me her husband, who works in tech. lost his job 8 months go and cannot find another one. Im so worried for this country. Prices for food are ok . We have 5 grocery stores within 1 mile from our home. I always thought i was going to buy a condo next to my parents in FL. I am so turned off from the consent up n down i will just stay with them or rent a hotel. Their assessments have been in the hundreds of thousands of dollars for their condo. Their HOA is $1650 per month. its so insane. They are in a well maintained , newer build. Thank you for your videos!
Funny in my parents day there was only your mortgage and your electrical and gas then they had a telephone then they added Internet then they added cable television now they’re adding home insurance and you better have personal electronic security protection or you will be ripped off physically
I am personally affected. My husband and I both have taken major payouts since early spring. However, as much as people like to blame the administration, I blame the very low rates for far too long. It is very easy to get very good deals on grocery and house supplies by couponing at places like Big Lots, Target, CVS. It is not very easy to get a decent place to live anymore. Mortgages and rents are way too high.
Go to the Arab community Chinese community Indian community Pakistani community and ask them if they’re having trouble paying their bills. The answer will be no. These communities people look out for each other that doesn’t exist in western culture.
@@davidOConnor-z3l I was thinking about that an hour ago walking my dog. With Tesla coming out with Optimus who apparently can walk your dog, I'm thinking someone can just steal my dog. And then it hit me. The people that can really afford a personal robot are going to be living in a neighborhood where people who aren't like them don't live. Basically no one is going to be steal their dog while being walked by a robot.
Hello Michael, auto prices have not come down enough to make any dent. We're going to be another Cuba were everybody's going to keep our cars running another 25 yrs.
98 Z71 Silverado and 08 Cobalt get us down the road. Do most all my own maintenance and repairs. Cheaper plates and insurance. Probably no depreciation at this point. Don't like what's being offered as far as new models go. Keeping what we have going as long as possible.
real estate taxes are out of control and making rental property rents go up 30% or more in the past 2 years, not to mention insurance. Everything is out of control. The only thing I have found that hasn't went up is the quarter($0.25) you put in a shopping cart at the Aldi grocery stores.
I'm feeling the crunch. I live on social security. I am not doing as bad as some, but believe the worst is yet to come. I have payment that comes in from a 2nd mortgage from a house I developed in Santa Barbara. I buy my food at Costco in bulk. I have 2 freezers. My guests comment on the number of canned goods I've immasked. I get comments like "what if the electricity goes out?" I say "I'll handle that when the time comes." I don't have any disposable cash. Restaurants and bars are out of reach. I am feeling it. Can I hold out until Trump fulfills his promises? I hope so. Thank you, Michael, for your informative videos.
15 bean soup is less than $3 at Walmart. Combine with 4 lbs of pork sausage or turkey sausage and that will make you about a week's worth of meals. Cheap and effective.
I hope you realize that it is going to take DJT four years just to, hopefully, save this Country. The reality of the last four years of the current administration is going to fall right in his lap, or even in Kamala's lap should she be elected. We are in for several very dark years, no matter who wins the election. The best end game is that we come out the other end of the tunnel and still have a Country. Can you imagine what it is going to be like having 25 million illegal immigrants having their freebees cut off because our Country is bankrupt?
Before the 1940’s the government was responsible for essential services like safety and education. When they realized they could buy votes, our debt skyrocketed.
@beatonthedonisIt was the massive intervention in the 30s that caused the depression to become the Great Depression. Murray Rothbard’s book, The Great Depression gives a very insightful explanation of this.
You want to go back to a time when 95% of Americans lived in abject poverty? I’ll pass on that. The middle class didn’t just happen. The government (we) created it.
Thanks for your diligent work Michael, putting this financial news together for us. This Inflation is harsh. To put it mildly. Watching our purchasing power vanish before our eyes.
Does anyone know there is a major meeting in Russia at the end of month that 13 major countries (there heads of state are attending not envoys) and many other smaller countries attending also to figure out how to leave the American dollar… Americans are going to be shocked when “we” not other countries are going have to pay for our own debt. Get ready…..
That’s why we’ve always had these wars because the central banking system controlled by the Rothschilds wants to control every single country and those are brick nations and they don’t want any part of our banking system to be controlling them so these words will never end until we can order a submissive world economy
This month there was 5 bills I could not pay. I have NEVER-EVER not been able to pay my bills! This is ridiculous! The everyday costs of things are breaking us!!! And to think I het a measly 2.5% increase is all on my COLA. Im furious!!!
I am lucky my wife and I can easily pay our bills..........we just DON'T GO OUT TO EAT, DON'T BUY ANYTHING WE DONT NEED AND HAVEN'T GONE ON A VACATION IN 3 YRS OH WE DRIVE 12 YR OLD CARS....living the dream.
Yes they all catch on fire if they mix with salt water yes it will burn your house down I won’t even ride in one what if you get in an accident and the accident does something to your doors and electric in the windows and the impact from the other car had your car go on fire and you can’t get out or you are unconscious and the car has caught on fire from the impact
People would have the money they need for living expenses if they didn't have property tax or income tax. Further, the economy would boom when people have the resources to take care of their families and their properties.
It’s crazy to think, also depressing, that how over the years and career development progresses yet I find myself living with less and less. Note more Vacations or eating out as often. The gifts and holiday celebrations are affected. This is unsustainable and has been for years it’s ridiculous
It's the same here in Switzerland. They simply want to give up their expensive rental apartments and don't buy gold and silver either. A recipe for poverty!
Thank you for your comment! I didn't know that people are struggling financially in Switzerland. Same in Norway. People are struggling financially here as well. 10 years ago you never heard about people having financial challenges. Sadly, times are changing, even in wealthy countries. 😮
Well, the good news is that if Kamalama Ding Dong is elected, then you will likely need another job. So, you will have some variety in your routine! Look at it this way, you will get to meet more new people!
@@Your100percentrightbut I'm just saying it all adds up. There are lots of things I can afford (with credit) but what I do is look at the interest paid over a 5-10 year period. It all adds up so I try and live within my means. I don't have kids and the divorce isn't taking money from me anymore so I'm in good shape now but if I had a kid or 2 it would be difficult to save money.
Keep on doing what you're doing Michael. You don't get to over a quarter million subscribers by posting info folks aren't interested in. I personally really appreciate your touching on so many different aspects of the declining economy- real estate, the Fed, fast food, car sales, etc. If people only watch the MSM, they are getting a very airbrushed vision of the economy, whereas you put out legitimate, source documented facts that viewers can evaluate for themselves. You give a much better perspective of how the economy is really doing. Your format is interesting, you show us lovely neighborhoods and scenery, and your presentations are intelligent and easy to understand. You're one of the very best UA-camrs out there, so just keep on doing what you're doing and you'll keep on being successful. See you in the next one!
I laugh at all the comments about which president will fix the economy. When will you learn that any president can only achieve what congress allows them to, and success of any particular political party in fixing the economy is purely dependent on dumb ass luck of how the world economics and politics pans out.
I think Catherine Austin Fitts discussed their goal (WEF, and those types) was to make us like India. I traveled to India in 2019, one month before Covid and while it was nice to see some cool things, that would be a very bad scenario.
These videos are very practical for everyone. The electric vehicle thing actually happened to my parents golf cart, it caught fire and burned their garage to the ground.
I see what you are talking about, I feel it. I went to Sam's today, and the parking lot was full, and their carts were full of non essential items. I realize that people are stupid, but the impact is a long way off.
Or there are obese people that can barely walk with a grocery cart mounded over with all garbage food. They probably just picked up their 7 prescriptions from the pharmacy covered by Medicaid.
I do appreciate the content you present. I have lived through several recessions as a farmer and working in construction. I also have a degree in Economics and even though I'm past full retirement I keep working just to try and keep that American dream within reach but the goal line keeps moving farther away.
I have one a 2011 Chevy Volt! Other than college, this was my biggest financial mistake of my life! I'll never own another Chevy, and I'll never own another EV ! I'm spending about $3000 a year in repairs to keep it on the road, and the original motor crapped out to years ago, and I'm a car enthusiast who maintains his cars well. No more EVs for me ever again!
As a financial planner, I included tax returns in by resume. You make a plan for them to make them financial secure (personal and business) and they come back to you in worse condition. It’s not Biden’s economics that’s the fault of their spending, it’s the spender. Inflation goes up. Corporate greed goes up. Wages stagnant and their lavish lifestyle doesn’t go down. That lifestyle is the only thing you control and you won’t control it. Stop blaming others and adjust. Nothing stays the same.
To answer your question, yes, your videos are informative and insightful. I've been following them right along. You touch upon topics that I didn't know anything about or go into detail on topics I was aware but on a superficial level. You do your homework with retrieving facts and telling it like it is. I say keep it up.
I am USPS Mail Handler and last 3 November contract raises are only 1.3% each year . Plus we get a very little COLA too. I was better off 4-5 years ago making less and everything cost less. Getting a small 1.3 % increase a year doesn’t cover anything. Our Health Premiums going up over $1000 a year . But we get a 1.3% raise that $905 a year. It BULL$HIT
@@kathyschlect4852 You're probably right. Much of that figure if not all is reflected in the national debt. The tax burden was shifted on the shoulders of the middle & working classes.
There are no decent jobs. My son has been looking for a year now. Ive been out of work for a year. And one candidate thinks abortion is the top priority. Abortion doesn't put bread on the table
Not sure what you define as a "decent job". Do you have any credentials, education or skills? Those determine the jobs you will be offered, Christopher. 💣
I have bread on my table. I also have a daughter of child bearing age that I don't want Doctors to refuse to provide healthcare to her if she is pregnant because she is not close enough to death to meet the laws requirements. P.S. The unemployment rate is 4.1%. So you are telling me you can't find ANY job in a year or you just can't find one you want to do?
It's true. People say things like, "Oh I had to buy a new car" or "we just had a baby we needed a bigger house". But they're just stupid. They could have repaired the old car, they could have just stayed in the place they were at. The big spenders are usually optimistic types, these are really bad times to be an optimist.
Are you implying that no one ever told them that if you pick up that little snake in the grass who’s smiling at you he will not bite you once picked up?
People borrowing to eat out. The eating out is way above inflation the last 3 years. I wonder if those fast food stores will be around in the next 5 years. I can almost image people saying remember MC Donald being around everywhere but now you can't find a single store anywhere.
That's what I say, too. In my city (Austin), restaurants are packed, the bars on the weekends are packed. Every morning, a line of cars at Starbucks and other coffee places. When Michael Bordenero talks about the economy being bad, I'm like, "Where??" People seem to be doing fine. I've gone to Houston, Dallas, Ft Worth, and San Antonio and people seem to be doing fine. Sure, there are poor people everywhere, but the restaurants are still packed like they were ten years ago.
i make 120k a year. my wife makes 70k a year. Together we cant find a home. Some real turds in vermont being pawned off as a 350k house. No reason to buy these lemons and spend the next 20 years trying to afford the repairs that have been neglected all for the sake of saying i own it
And that is exactly what those "cheap" houses that Boomers bought back in the 80's were. Sh8tty ass houses that they could barely afford to buy and they spent the next several decades fixing/maintaining.
I bought a 3000 sqft barndominium (half is a RV garage) on .5 acres in central Texas in June this year that was just finished before I moved in. It was $365k but I paid $316,000 with closing costs covered, and it's in the country but not too far from a few cities. The heat takes getting used to, but I'm glad I don't have to rent the rest of my life. TBF, I used a VA loan and I'm exempt from property taxes, and got a 6.25% APR. The payment is 60% of my 45k annual income, but I plan to retire in this house so it's fine.
The United States as we know it is no more. All signs point to 2024 being a year of significant economic hardship for the entire nation. Put your cash to use straight away to increase its value. I was aware that I needed to invest. I had no idea how quickly a few thousand dollars a month would go up. Though it is. Since 2020, I've made about $600,000.
Congrats. Your ability to control the whole risk profile of your investments and prevent irreversible capital loss will be your actual financial unlock. A plan must be in place to take advantage of opportunities to profit when they arise.
When you first start off, you should get advise from a fiduciary counsellor if you don't want to crash and burn. They adopt a profit-driven approach based on individual risk tolerance because their entire skill set is built on simultaneously trading long and short.
Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.
i’m in dire need of guidance so i cIan salvage my portfolio due to the massive dips and come up with better strategies. How can I reach this advisor?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Sophia Maurine Lanting” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
People believe their currency has the worth it does because they have no other option. Even in a hyperinflationary environment, individuals must continue to use their hyperinflationary currency since they likely have minimal access to other currencies or gold/silver coins.
Could you kindly elaborate on the advisor's background and qualifications?
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
I'm retired and Social Security will only be 2.5% COLA that is poverty. Congress can give Trillions to other countries as the Elderly are kept in poverty.
It's bad for the old and it's bad for the young. I'm forced to pay into a Social Security system that will be long gone before I'm old enough to get any back. My generation will forget the meaning of the word "retirement."
There's a reason why so many people who are retired or become disabled are forced to downsize because there's no way their Social Security can keep them in their house so they either have to downsize, rent a small apartment, apply for senior housing or go into a retirement home.
2.5% is the right COLA increase IF you believe that fake inflation rate that excludes food and gas - the main purchases of Middle Class America.
Awful.
I know 😐 Lowest COLA in several years. All my utilities going up as of January. Happy new year.
Overpriced Insurance is destroying this country...
Property taxes also..
Everything is overpriced.
Isnt America great...Cmon man.
Self-insure!
What kills me is why the hell is the perspective and or hopeful buyer I’ll be home paying for those property taxes and insurance annually in hopes that they may make that final payment to get the two that house or property which is a single-family dwelling these banks who owns his property deeds will never ever lose worst case scenario is you pay off the deed and get the house but you’ll always pay those property taxes which will always go up when you’re 75 years old how the hell can you afford the property taxes would you never negotiated 50Ago when you bought that old house
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.
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.
Thank you for this tip. it was easy to find your coach. and I conducted thorough research on her credentials before scheduling a call with her. Based on her résumé, she appears to possess a high level of proficiency, and I am grateful for the opportunity to speak with her.
Sorry to say but the USA is in a steep decline and unless people from the bottom up demand change and accountability nothing will change. Voting for president and congress by itself is not enough. People need to raise up and stop being so passive.
We are not like the French who do seem to be able to organize a people's demonstration. The US system has the elites and enough of their schills who shame anyone who validly complains about the kleptocracy as being a 'socialst' or 'communist'. America is a status driven culture, and the aforementioned elites/schills validate their sociopathy by beating up on the 'losers' in a 99.999% loser-generating system. Smh...
This is the answer but the problem is that the powers that be have been very very successful at keeping us all divided.
Correct. 👍
Agree
How
We closed both our businesses this year. Worst year of our lives.
I did some traveling for business this summer. The only place I saw the economy doing well was the “ Washington DC Northern Virginia area flush with government money stolen from the taxpayers.
🤔🤔
I'm really sorry you're experiencing this.
It's the best thing to do taxes are crazy than batpoop , u know u can still make your own business if u understand what I'm talking bout , these banks are in trouble hard times to have cash on hand try to drain your cash out as quick as it goes in it , it's been a terrible year for me too no business but barely making it month to month ,next year is much worse
@@Horatio1886buildlol yeah apparently one of the major signs of international conflict is pizza places in DC will get slammed with orders.
When the nuclear Holocaust starts, Papa John's is going to have a good night in the end
Small business for 20yrs I'm so close to done. So far this year sales are down 66%.
Yeah my business' sales is down about 25% and honestly I feel lucky. Not sure I could keep it running if income had fallen 66% that's terrible.
Mine is dead. I have to revamp, reorganize, and totally change directions. That's after doing well all through the stupid lockdowns. But LOCKSTEP is in full swing now with their biggest weapon against small businesses: A.I.
Most businesses will be dead sooner or later.
Most businesses will be de@d sooner or later.
Mine is going down hill this year bad it’s crazy.
If the government cared about the people then they wouldn't let property taxes be outrageous
They do not care about the 98% 😅😅😅
Mine are $2,200. I'm not defending this economy, I hate it. I'm just saying I choose not to live in one of those overpriced municipalities. I live in a rural area
Your government does care about the people. Unfortunately for you they live in Israel.
The government is clearly under globalist control. "You will own nothing and be happy" Property ownership is being eliminated via taxes, insurance, HOA dues, interest rates, etc.
property taxes are local
People living on debt, not saving, expensive houses, cars. And PHONES. If people all had to pay with cash there would be a new appreciation for the value of money like they had in the old days. And prices of everything would come crashing down.
450+ 7-11’s closing
It’s like late game Monopoly. Everyone is out of money, the top player owns everything and everyone is stuck going around the board getting rekt.
Working for a small credit union in the past year i am seeing a ton of members being late on loan payments, surrendering their cars or them being repoed, mortgages getting close to forclouses, and helocs being maxed out.
Define "a ton". What percentage of people are defaulting? I don't care about late payments.
Over the last two years, I've seen multiples cars and motorcycles being repoed in my area. I don't know the people, but this is a new build area, homes in the mid-300's.
@@SomeUserNameBlahBlah I mean late payments turn into chargoffs and other issues. During normal times chargoffs and other issues with foreclosures and repos is about 1% for the credit union I work for. Right now it's at about 4% of our members who have a charged off loan, credit card, charged off checking account that was in the negative for more than 90 days, car repo, or foreclosure. Actually dealing with a member currently who has been late paying on her mortgage 34 of the 35 months she's had the home and for the last 6 months the state of Kentucky has been paying her mortgage, however she only has 6 more months of that before she has to start paying back the state also. I figure either we will end up forclosing on the house or she will sell it and walk away since she really has no equity in the home
The American way is to bury yourself under a pile of debt and then blame everyone else for your poor choices.
If someone used a HELOC as a long term loan and not as a short term loan with a plan to put that equity back in 3 years or less... Well, they made a poor decision. 😅 Most people don't understand that HELOC rates are wildly variable. 🤦🤷
Most Americans find it hard to retire comfortably amid economy downtrend. Some have close to nothing going into retirement, my question is, will you pay off mortgage as a near-retiree, or spread money for cashflow, to afford lifestyle after retirement?
as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management
Agreed, the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around 300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.
this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future
Carol Vivian Constable is the licensed advisor I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment.
I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an email shortly.
People in this Country have been living above their means for years. Just like our Government!
I do nothing but save for the future, have no debt, and don't buy endless nonsense. It's still tough.
@@jessied3696 but it would be worse for you if you didnt. Be grateful your smart.
You clearly don't understand macro economics or how a fiat currency works. We The People are victims of a ponzi fraud which is the dollar. The globalists who control all fiat currencies in the world have counterfeited the dollar by more than 40% since 2019. These globalists are continually taking more than 40% more of peoples paychecks in addition to what they were taking before 2019. Inflation is a continual tax. Wrap your mind around that fact then try to regurgitate your BS "living above their means" statement that blames the victims.
My neighbors across the street whine all the time about how they don’t have money and complain about gas prices and food prices but they just financed a $3,500 vacuum ! They are out of their freaking minds !!!
@@jessied3696 By "save" do you mean a savings account or investing?
My neighbors whine about not being able to pay their bills but they just financed a $3,500 VACUUM! A stupid vacuum ! Financed it ! Oh my lord ! Crazy ! I don’t get these people
Morons. It better do more than floors...if ya know what I'm sayin
I didn't even know there were ones that expensive! The last one I bought was a shark, on sale for about $140. It's still going strong about 5 yrs. Hope it will last a while since the previous ones I bought (not shark) lasted only 4-5 years. What are they going to vacuum with that anyway?
@@happyzahn8031
It apparently sits out in the middle of the room and sucks in on its own all the bad air. I rolled my eyes !! And it has to stay plugged in all the time for it to work. There goes their electric bill ! Apparently they bought it at a Fall Festival in our town. Someone was peddling these.
@@jdawg3629 I told her, I’d buy one if it cleaned my house, did dishes, cooked meals, did the grocery shopping etc etc 😆
It would be cheaper to get rid of the carpet altogether 😳💁🏻♀️
Yesterday I read that Walgreens was closing 1200 stores. Your video is spot-on.
Canada’s leader has also destroyed our ability to survive. An impoverished society offers little resistance to a tyrannical government.
You guys voted for him. Stop complaining.
Stop reelecting the Parliament that seats Castro Junior...
@@blacksilverchair3315 You still thinking votes make a difference?
It sounds like there's a worldwide Mafia going on and everyone's government it has a hand in it. Every government on this planet is linked to one worldwide Mafia
@@blacksilverchair3315that doesn't even matter, that's not who's in charge and not who's controlling things! Those people are mere pawns in a game! You got to look at the bigger picture!
I am almost 71, retired since 62-1/2, house is not paid for, but I pay all my bills on-time and do not have a boat load of money in the bank. They are doing something wrong.
I am pretty much buying necessities. If I have an emergency, it's game over. There are many people to blame, including myself. Had I known 5 years ago, the economy would be this bad; I would have prepared better. I'm not sure this situation can be fixed, or how. Thank you for the videos.
You should have been living two levels below your means, Carla.
🤣
Thank trump for the 7.8 trillion in deficit spending that tanked the dollar. Still handicapped thanks to the "tax cuts and jobs act" that doesn't expire until 2025...
You’re terrorizing yourself we have at least another 50 years before anything happens
@@DIVISIONINCISION Thanks for being so supportive and caring to Carla.
I overhead a couple in Walmart lamenting how broke they are.
They were buying a Halloween costume for their dog and beer....
You can't fix stupid
You can generalize that to mean they're stupid. I left the US years ago knowing the economy would get worse. Though, you don't know. Maybe they're typically frugal and caught them at a moment buying dumb shit.
😂😂😂... stuff they don't really need if they're broke
Everything is relative. They feel poorer. In absolute terms they're not poor,
Stupid choices are why they are broke
My late wife never understood why I made sure that our mortgage could be paid in one check I never had more than a single car note and the cars were never newer than 5 years old with at least 50,000 mi on them. She especially hated it when I used to tell her that she was the most expensive bill that I had out of all of the bills that I paid, now I pay everything in two checks. Most people including my late wife Max everything out and run their finances to the edge, so that now inflation has hit every household that they can't afford to adjust. Before anyone comments no I am not a boomer I'm a gen-xer and I'm very paranoid after a failed business and a crash in my finances during my early thirties, those hard learned lessons in that hole that I had to dig back out of taught me to always live way below my means.
Same. I make a decent living but 'live' off of about 30-40% of it. Car paid off since 2016 and runs fine. No credit debt--if I can't pay for something, I dont...
If you can 'be your own credit card' and borrow from yourself and pay yourself back at 0% interest, than do it.
My wife is Asian and I get lectures about spending.
@@alanheadrick7997 they Don't call them dragon ladies for no reason, Asian women are kind of notorious for hoarding all of the money and treasures for themselves 🤣
Works for me. I pay as I go. Have zero debt, no credit cards. I live on SS disability for 20 years now. But I have made investments to give me a monthly income outside of Government. If you count on them you are counting on guys like Joe Biden. You will eventually be sorry. My ex is in debt up to her eyeballs. Sure she has a new car, new house, credit cards. But she has trouble paying her bills!!! I don't want that stress in my life....
Same here... I pay everything with cash and if I don't have the cash that means I can't afford it.
Remember people we are called the middle class for a reason….we get the middle finger!!!🤦🏼♂️
😂 lol
The 7/11s that are experiencing slowing sales are the ones that are victims of smash and grab flash mobs. NO COMPANIES CAN SURVIVE THAT!
When a 12oz. Tea is 4.49 I don't feel sorry for them one bit
its not the same quality as in Asia. not even close
Yes they can with the amount of money they’re making selling sugar and salt they should be able to hire an arm security guard to nighttime hours and if they don’t then they’re too cheap and it said shut up and not rely on public services as their own personal private security protection
@davidOConnor-z3l If anyone tries to fight back against "the certain demographic" they'll go to jail. Get your head out of the sand and look around what's going on in America.
Mostly in blue states. They get what they voted for.
Thanks for being the person telling us whats really going on for years.
Nope Fox news just said unemployment is only 4% and inflation is only 2%. Don't pay attention to the fact that cars, electricity, insurance, food have all gone up 25%-100%.
yeah, they forget cumulative inflation with wage stagnation is what's hurting people.
Media lies television is telelies , doing your own research of facts is better , I don't believe one word the media brainwashing controls say about anything, it's take a look around do your own journalism talk to people you will wake up real quick usa economy is gone
I 100% agree with you that inflation is around 100%! I keep seeing all these super low numbers being talked about when it comes to inflation but it seems much higher to me. Prices have doubled for a lot of things.
@@Gmanxxx1214 Inflation is the rate at which prices rise, not the amount they've risen..
Absolutely. Think we’re already in a depression Great or small …beef went up 3.00 a lb in like one week.. maybe it’s just California since Texas lives behind the Iron Curtain…
My small business is down 80 percent this year it’s crazy how fast things change!
Keep doing videos like this! Thanks.
Your information is valuable to me. On the information you provided, I sold my home in Florida in July and now I’m renting. I even told my realtor about your channel. My kids and myself are so grateful i did not have to go through Hurricane Helene and Hurricane Milton. I look forward to learning more from you.
This economy is shameful. Our backs are broken!!!!!
Well you really don't need underwear 😮😮 culture says you do..but I say free yourself from perceived ideas and wasted money😅
And another 10% are lying about paying their bills 🧐
If you’re not frugal you are in depth
@@davidOConnor-z3l How deep are you 'in depth'? 😆
@FerroEquus-262 right what's the depth of this depth? 😂
Boeing laid off 17,000 people. 10% of their workforce. Ouch. They probably should’ve started with 80% of their management being laid off, but I bet they didn’t.
Should have started by not outsourcing their coding to Rahul and his pals.
They haven't officially laid off yet, but will in the next few months due to the WARN act
And yet....we Americans spend 900 BILLION dollars a year...on gambling.
You mean 35 Trillion 😂
Did you know we live in the country with the most casinos? Is gambling 😂the real American dream?🎉
Whats powerball up to now?
A lot of PROLES think they can win the lotto. 😂
Money laundering
To Answer your Question, I appreciate and always get something out of your Videos... I learn something new everyday.. Thanks
His videos will be removed in the future by law as conspiratorial and/or misinformation
I live in Long Island, NY, I wonder how people do it out here it’s insane ..
Your police are a corrupt as all get out.
No Boeing is doing just fine. Their CEO just made $33 million.😂
As overpaid as ...... the thugs throwng footballs around NFL stadiums.
Typical day for the American corporate
The CEO Boeing employees thousands have been laid off after Boeing took all employees HEALTH INSURANCE AWAY. They are laying off EVERYWHERE using AI ROBOTS to replace human jobs. UNITED NATIONS REQUESTED that "AI ROBOTS TAKE OVER HUMANS JOBS" through out the entire world. My friend a truck driver OTR has been delivering ROBOTS to manufacturers and buisness for last 4 years THIS IS VERY TRUE. No one will be left with a job or income to be able to afford to survive on earth THINK ABOUT THIS? TO SAVE CORPORATIONS BILLIONS & ROBOTS BUY NOTHING or PAY INTO TAX REVENUE like HUMANS DID. Everyone better get ready to become homeless and penniless by UN that all countries leaders are doing?! Pay off EVERYTHING asap!
What is wrong with the rich reaping the rewards? We need more tax cuts for the successful and rich!
🤮😝
Let this be a warning to others. I have a very high income and I'm in my mid 30s.. I'm going into hibernation mode. Like he said, they are increasing the money supply by lowering rates... this is the opposite of what they would do in a healthy economy... Save your money. We are in for a downturn like we've never seen in the past.
Save WHAT money?
1bmwmd110 Well stated !
I am with you, going into monk hibernation mode but how is lowering rates increasing supply? i have been learning more about finance the last 3 years
I’ve been saving/investing since 15.
Avoided marriage,single mothers,and debt since 18.
My efforts paid off and I’m good.
Worst part is everyone is earning less, especially small businesses, truckers that use to make very good money are one repair away from bankruptcy.
it will be hard.
We have a bunch of soft people coming onto hard times.
I'm not voting for ANY incumbent that has voted for money to go over seas since January 2024 and loose boarder control. Period.
When people vote they are giving consent
I live in Michigan, roads are packed, restaurants packed, stores packed, casinos are packed. Stock market is good. This guy makes money being the voice of DOOM.
Okay, so what? Where I live here in South Carolina the roads are packed, stores are packed and restaurants are packed. That doesn't mean a significantly large percentage of the population isn't struggling financially. You have to know the finances and backgrounds of the people in those stores and restaurants. And you have to then take survey of how many more people could have been out and about before this inflation hit. No doubt most everyone says they have it worse than they actually do but times are tough for a lot of people. I had a much larger financial cushion than many and a lot of what I was able to do financially has been curtailed. I can pay my bills but that doesn't mean the margins between what I have left over at the end of the month haven't decreased a lot. Using basic optics like you have to judge the situation is something many folks do but it's not an accurate way to assess the situation.
So no Republicans since they all voted against the border bill this last summer?
Amen.
if you cant pay with cash , you cant afford it .
Well stated Cash is always king !
Mofos now are getting desperate. They'll take well under asking price. Especially close to Christmas time.
Amen
If people had this mindset there would be no problems at all with the economy right now.
The rich getting richer and the middle class is more desperate than ever!
Here here…. I’m finally winning but it only took a half a century 😅
Which is what America is all about - hard workers make MONEY, lazy social security welfare queens don't work. Just take, take take!
President Trump will end this obscene socialism of socialism security!
There is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. I plan to retire at 62 in another country outside the US that is free, safe and very cheap with a high quality of life. I could fully just rely on only my SS if I wanted to when that times arrives but I'll also have at least one pension, a 403 (b) and a very prolific lnvestment account with my Abby Joseph Cohen my FA. Retiring comfortably in the US these days is almost impossible.
I know this FA, Abby Joseph Cohen Services but only by her reputation at Goldman Sachs; even though she's now involved in managing portfolios and providing investmnt guidance to clients. I have been trying to get in contact since I watched her interview on WSJ last month
Great share! Out of curiosity, I searched Abby Joseph Cohen Services online, found her consulting page ranked at the top, and scheduled a call session. I've read many reviews about advisors, but none seem as impressive as hers.
this spammer problem is systemic. i hate you spammers!
Really. This same greed didn't exist under Trump? So, under Biden and Harris, people just decided to become greedy?
There is a systemic problem -- greed"
Give all your money to poor people.
Stop being greedy!!
YOU GIVE VALUE! - that's why we are here! ❤
I watch that guy Patrick Byrne David whatever his name is from value entertainment he’s pretty good also
The economy is so bad I have been forced to go commando 😂
Recently went out with a friend for lunch that I treated for. She has no money and maxed out on over 10 cards I offered to treat for lunch but she wanted a special margarita not the house special that was $5.99. I said if you were going to order an expensive drink, I’ll pay for everything else. So what a surprise, she ordered a margarita that was $22 with Chip! She’s in her late 50s, has no money, no real estate, maxed out all her credit cards which are over 10 AM is now moving to find a job in another state. are you surprised she’s so broke? I live frugally, eat the house specials,. House is almost paid off and I have no credit card debt. When you buy $22 drinks, what do you expect?
You need to find some new friends, DH. Some people need to find out the hard way! 😉
This person has zero respect for you to do that.
What do you expect taking broke people out to EDD all you can eat or free or at least paid for lunch? Come on your way being a big steak in front of a hungry animal and what do you expect they’re gonna do? Everyone is broke as a joke and you’re a hypocrite because somehow karma will get you if you keep talking like that
Learn how to make your own beer & liquor - it's easy
Who can afford to eat out anymore? I just stopped eating out all together and am starting to grow my own food. Watch next theres going to be a....grown food tax and a meat bird tax.
Maybe Ukraine can bail us out.
Those Ukraine girls really knock me out
Or maybe russia can take over europe! or the US.
or Israel
It's bad everywhere, every country.
Yt seems to present it that way...
Facts yes it is
That's the plan, and try to escape to one of those countries when there's a revolution, they'll turn to you when nationalism truly kicks in.
Not in Latin American countries...60% cheaper.
not every country. vietnam and thailand are doing pretty good. bangkok looks like tokyo these days and norway's govt pension fund has topped $1.7 trillion
Hey Michael:
I will be 64 years old in February 2025 I have been working since I was 11 years old. Started working with my dad at that age because he was a self employed plumber and often needed an extra hand. My dad taught me many things from plumbing to carpentry to welding my dad is gone now, I have been working as a welder for a local mechanical contractor. This year my health insurance went up 40 dollars a week add that to the cost of living skyrocketing double whammy. We are scheduled to get raises this year but what they would have to to give every employee to compensate for the double whammy is just not going to happen. So this will be the first year in my soon to be 53 year career that my raise will literally do me no good, first time ever.
Old guy here, born/raised in Rockford, retired teacher and still driving a school bus in Texas. I watch most days for entertainment and information. I don't know that it affects my lifestyle except I do have more knowledge than most folk I talk with about economic situation. I live in a pocket of the US that hasn't been greatly affected by the downturn, so most folks are oblivious. Amazes me. Thanks for what you do. I just wish you'd ALWAYS tell where you are as I love to look you up on google earth! I'm pretty easily entertained. Best wishes.
You school bus drivers are definitely a pain to maneuver around in rush hour morning traffic!
@@DIVISIONINCISION Good! Slow down or leave earlier.
Need more great bus drivers in NC! Thankful.
Ever since selling my home in 2021 in Tampa, Florida, I've been in "hibernation mode".
I saw the shit stains on the wall a while back.
You have no idea, this country is about to go up in flames 🔥
you mentioned the N. East and you are correct the market INSANE here. I live in Fairfield , CT and the prices of homes specifically are very very high. I paid 238K for my condo 10 years ago and they are selling for 390K and new post to MLS is asking $439K its just wild. The housing tax is very high here and since we are from NYC we are used to smaller spaces and never upgraded to a bigger home. The homes here are literally old, oil, not great selling for 1mil. If you want anything renovated 1.3. they used to be 850k for renovated. A friend of mine paid 700k for a lilttle tiny no backyard home adn now told me her husband, who works in tech. lost his job 8 months go and cannot find another one. Im so worried for this country. Prices for food are ok . We have 5 grocery stores within 1 mile from our home. I always thought i was going to buy a condo next to my parents in FL. I am so turned off from the consent up n down i will just stay with them or rent a hotel. Their assessments have been in the hundreds of thousands of dollars for their condo. Their HOA is $1650 per month. its so insane. They are in a well maintained , newer build. Thank you for your videos!
"What are things going to look like once the election is over?" IDK what it'll look like but it'll feel painful,very painful.
Night of the living dead. Eerily quiet.. or total mayhem
This economy sucks in plain English!
As do you...😅
fake money let the zionsist spend all they want on endless wars and victimless crimes.
And loving it!!!
American capitalism at its finest....
@@pensacola321what should've been said: In plain English, this economy sucks!
Stealing with the printing press is easy. No fun being a victim of these tyrants.
There are so many bills to pay and trying to save some cash is not as easy as before.
Lifestyle creep keeps getting faster....
Cash loses value so fast I don't care to work until I deplete the savings. The powers that be have taken too much!!!
and?
If you were living below your means, you'd be fine now.
Funny in my parents day there was only your mortgage and your electrical and gas then they had a telephone then they added Internet then they added cable television now they’re adding home insurance and you better have personal electronic security protection or you will be ripped off physically
I am personally affected. My husband and I both have taken major payouts since early spring. However, as much as people like to blame the administration, I blame the very low rates for far too long. It is very easy to get very good deals on grocery and house supplies by couponing at places like Big Lots, Target, CVS. It is not very easy to get a decent place to live anymore. Mortgages and rents are way too high.
I’m in Florida. Just got power so I come to Michael Bordenaro to celebrate!
yep me to
@@davidgrego7336
Yea for you!!
Congrats! This guy is entertaining, isn't he?
No power for our block yet but blocks around us got it yesterday. Grateful we have cool weather after this one, nice change.
@@JetJ321
Was same here. Some side streets were still out. Now it’s on for them. I waved to them as they headed out.
Go to the Arab community Chinese community Indian community Pakistani community and ask them if they’re having trouble paying their bills. The answer will be no. These communities people look out for each other that doesn’t exist in western culture.
But its nasty over there
Currency debasement, situation worsening daily.
In the future they will literally be high walls that literally physically separate the upper class for the lower level techno peasants
@@davidOConnor-z3l I was thinking about that an hour ago walking my dog. With Tesla coming out with Optimus who apparently can walk your dog, I'm thinking someone can just steal my dog. And then it hit me. The people that can really afford a personal robot are going to be living in a neighborhood where people who aren't like them don't live. Basically no one is going to be steal their dog while being walked by a robot.
Scareeee
Hello Michael, auto prices have not come down enough to make any dent. We're going to be another Cuba were everybody's going to keep our cars running another 25 yrs.
😂they made like dishwasher now 10 year max breaks cost more to fix then worth
@@osvalditochirino3428Yet the Green party leftists couldn’t care less about planned obsolescence which causes landfills to fill up with this junk.
My car this month is 20 years old
. Yes I had it repaired and painted but the repair cost per year is under 200$.
98 Z71 Silverado and 08 Cobalt get us down the road. Do most all my own maintenance and repairs. Cheaper plates and insurance. Probably no depreciation at this point. Don't like what's being offered as far as new models go. Keeping what we have going as long as possible.
I have a 2008 and 2013. I will drive them forever.
Whoa....this channel is an eye OPENER. Thanks for the videos.
Yes Michael. We’re all believe getting plenty from your videos. Thank you!
real estate taxes are out of control and making rental property rents go up 30% or more in the past 2 years, not to mention insurance. Everything is out of control. The only thing I have found that hasn't went up is the quarter($0.25) you put in a shopping cart at the Aldi grocery stores.
I'm feeling the crunch. I live on social security. I am not doing as bad as some, but believe the worst is yet to come. I have payment that comes in from a 2nd mortgage from a house I developed in Santa Barbara. I buy my food at Costco in bulk. I have 2 freezers. My guests comment on the number of canned goods I've immasked. I get comments like "what if the electricity goes out?" I say "I'll handle that when the time comes." I don't have any disposable cash. Restaurants and bars are out of reach. I am feeling it. Can I hold out until Trump fulfills his promises? I hope so. Thank you, Michael, for your informative videos.
You still believe the politicians??? The only ones who are going to get us out of this mess is WE THE PEOPLE.
Don’t count on Trump.
Trump fulfilling his promises; are you kidding me? Since when did that pathological liar do anything to help anyone but himself?
15 bean soup is less than $3 at Walmart. Combine with 4 lbs of pork sausage or turkey sausage and that will make you about a week's worth of meals. Cheap and effective.
I hope you realize that it is going to take DJT four years just to, hopefully, save this Country. The reality of the last four years of the current administration is going to fall right in his lap, or even in Kamala's lap should she be elected.
We are in for several very dark years, no matter who wins the election.
The best end game is that we come out the other end of the tunnel and still have a Country.
Can you imagine what it is going to be like having 25 million illegal immigrants having their freebees cut off because our Country is bankrupt?
Before the 1940’s the government was responsible for essential services like safety and education. When they realized they could buy votes, our debt skyrocketed.
People who are taking more from the government services than they're contributing to it should not be allowed to vote.
@beatonthedonisIt was the massive intervention in the 30s that caused the depression to become the Great Depression. Murray Rothbard’s book, The Great Depression gives a very insightful explanation of this.
You want to go back to a time when 95% of Americans lived in abject poverty? I’ll pass on that. The middle class didn’t just happen. The government (we) created it.
Bingo,
Thanks for your diligent work Michael, putting this financial news together for us. This Inflation is harsh. To put it mildly. Watching our purchasing power vanish before our eyes.
Does anyone know there is a major meeting in Russia at the end of month that 13 major countries (there heads of state are attending not envoys) and many other smaller countries attending also to figure out how to leave the American dollar… Americans are going to be shocked when “we” not other countries are going have to pay for our own debt. Get ready…..
KAZAN! RUSSIA
Your country would be dust if not for the American dollar
@@coolman9i6 Instead they are just sh!t...
That’s why we’ve always had these wars because the central banking system controlled by the Rothschilds wants to control every single country and those are brick nations and they don’t want any part of our banking system to be controlling them so these words will never end until we can order a submissive world economy
Russia is the dump 💩, their rubles is 💩
Yes. I agree. The economy is the worst I have seen since 2015
The same in Italy, Romania, Spain , etc
08' Rookie.
THE PROBLEM IS PEOPLE DONT THINK THERE BROKE AS LONG AS THEY HAVE A CREDIT CARD
Stupid to the max.... credit cards...
That's why the Fed can call a depression a recession.
Cash is King still
Well said! What good is a card if its maxed out! Its not free money Period!
EXACTLY, and this goes for mortgages, they should have never existed, and if they didn't housing would have never gone up in the first place.
I was just in Vegas the last few days, it’s packed! 2 hr lines for check in all day at the Ballagio, people w kids, and all ages.
I am a contractor working in Korea. Its getting expensive here too.
This month there was 5 bills I could not pay. I have NEVER-EVER not been able to pay my bills! This is ridiculous! The everyday costs of things are breaking us!!! And to think I het a measly 2.5% increase is all on my COLA. Im furious!!!
You get COLAS.??? And you still can't make it. Maybe you are living above your means.
furious about cola???? thats why this country is fucked!!! cola is your big concern, ????
@@thehark6247 COLAS are just another reason prices keep going up. Everyone wants a constant raise. So pay the higher prices and bee happy. :) LOL.
Be happy and lucky you're going to get that.
You want MORE welfare money? GET A JOB! Trump will slash social security and it is a GOOD THING - too many snouts in the trough! MAGA!
I am lucky my wife and I can easily pay our bills..........we just DON'T GO OUT TO EAT, DON'T BUY ANYTHING WE DONT NEED AND HAVEN'T GONE ON A VACATION IN 3 YRS OH WE DRIVE 12 YR OLD CARS....living the dream.
That’s the way to do it!
It's called being fiscally responsible.
Yes they all catch on fire if they mix with salt water yes it will burn your house down I won’t even ride in one what if you get in an accident and the accident does something to your doors and electric in the windows and the impact from the other car had your car go on fire and you can’t get out or you are unconscious and the car has caught on fire from the impact
Wish there are more people like you who stand up and refuse to pay for ‘inflation’
I haven't been on vacation for 15 years but I like where I live so it's no hardship. I am content.
People would have the money they need for living expenses if they didn't have property tax or income tax. Further, the economy would boom when people have the resources to take care of their families and their properties.
It’s crazy to think, also depressing, that how over the years and career development progresses yet I find myself living with less and less. Note more Vacations or eating out as often. The gifts and holiday celebrations are affected. This is unsustainable and has been for years it’s ridiculous
It's the same here in Switzerland. They simply want to give up their expensive rental apartments and don't buy gold and silver either. A recipe for poverty!
The Swiss believe in renting over owning property? Strange.
I never did see the sense in buying gold and silver; you can’t eat gold and silver!
Thank you for your comment! I didn't know that people are struggling financially in Switzerland. Same in Norway. People are struggling financially here as well. 10 years ago you never heard about people having financial challenges. Sadly, times are changing, even in wealthy countries. 😮
@@cherylT321 you cannot eat stocks, bonds, mutual funds, ETFs, housing, vehicles, etc. So what do you invest in? Canned food?
@@cherylT321
Gold and silver give the sheeple some well needed hopium
Yes! Everything you said matters & it affects a of us! Thankyou!
99% of my purchases are made at 1 grocery store, 1 gas station, and 1 hobby store. I go nowhere and do nothing extra anymore. Work, home, work, sleep.
Your going to love your 15 minute city. 😈
Not at all. I got herded back to the city bc rural living has become a lot tougher for 1 person@@melissasmess2773
Well, the good news is that if Kamalama Ding Dong is elected, then you will likely need another job. So, you will have some variety in your routine! Look at it this way, you will get to meet more new people!
They can't pay their bills as they type it on the latest Smart Phone they upgrade every 2 years.
Preaching to the choir…
Yeah cuz a little phone is the problem
Not the money printing get real dude for real
Ah yes because $40 a month for a smart phone is the same thing as $1,700 a month for your average apartment
@@Your100percentrightbut I'm just saying it all adds up. There are lots of things I can afford (with credit) but what I do is look at the interest paid over a 5-10 year period. It all adds up so I try and live within my means. I don't have kids and the divorce isn't taking money from me anymore so I'm in good shape now but if I had a kid or 2 it would be difficult to save money.
Brilliant analysis
Thank you Sir
Fantastic discussion
Thank you Mike
Keep on doing what you're doing Michael. You don't get to over a quarter million subscribers by posting info folks aren't interested in. I personally really appreciate your touching on so many different aspects of the declining economy- real estate, the Fed, fast food, car sales, etc. If people only watch the MSM, they are getting a very airbrushed vision of the economy, whereas you put out legitimate, source documented facts that viewers can evaluate for themselves. You give a much better perspective of how the economy is really doing. Your format is interesting, you show us lovely neighborhoods and scenery, and your presentations are intelligent and easy to understand. You're one of the very best UA-camrs out there, so just keep on doing what you're doing and you'll keep on being successful. See you in the next one!
I laugh at all the comments about which president will fix the economy. When will you learn that any president can only achieve what congress allows them to, and success of any particular political party in fixing the economy is purely dependent on dumb ass luck of how the world economics and politics pans out.
We, former middle-class folks, are goners, on our way to penury...
I think Catherine Austin Fitts discussed their goal (WEF, and those types) was to make us like India. I traveled to India in 2019, one month before Covid and while it was nice to see some cool things, that would be a very bad scenario.
Job market is trash, no such thing as entry level anymore .
Entry level benefits and pay
These videos are very practical for everyone. The electric vehicle thing actually happened to my parents golf cart, it caught fire and burned their garage to the ground.
Love all of the stories. Mainstream media does not cover. Keep up the great work.
I see what you are talking about, I feel it. I went to Sam's today, and the parking lot was full, and their carts were full of non essential items. I realize that people are stupid, but the impact is a long way off.
You realize that some of those folks are wealthy, right?
Or there are obese people that can barely walk with a grocery cart mounded over with all garbage food. They probably just picked up their 7 prescriptions from the pharmacy covered by Medicaid.
Thank you michael for the beautiful views❤
Appreciate what you provide me. Sometimes there’s just too much to read and assess. So you’re helping me consolidate information and facts!
I do appreciate the content you present. I have lived through several recessions as a farmer and working in construction. I also have a degree in Economics and even though I'm past full retirement I keep working just to try and keep that American dream within reach but the goal line keeps moving farther away.
Definitely not interested in electric vehicle now. Too many downsides. Too hot, too cold, flood/ fire. Ugh what a nightmare .
.... battery life of ~10 years, charging stations, getting locked out, low resale value. Yeah, I could keep going!
I have one a 2011 Chevy Volt! Other than college, this was my biggest financial mistake of my life! I'll never own another Chevy, and I'll never own another EV ! I'm spending about $3000 a year in repairs to keep it on the road, and the original motor crapped out to years ago, and I'm a car enthusiast who maintains his cars well. No more EVs for me ever again!
As a financial planner, I included tax returns in by resume. You make a plan for them to make them financial secure (personal and business) and they come back to you in worse condition. It’s not Biden’s economics that’s the fault of their spending, it’s the spender. Inflation goes up. Corporate greed goes up. Wages stagnant and their lavish lifestyle doesn’t go down. That lifestyle is the only thing you control and you won’t control it. Stop blaming others and adjust. Nothing stays the same.
Imagine trying to evacuate from a hurricane with an electric car?
The Gov of FL is amazing! He had temporary charging stations brought in for people evacuating
. . . you're right . . . while EV's are being pushed.
Immorality or incompetence; the results are the same. Why look for the “smoking gun” when you can still smell and see the gunpowder in the air.
Saw a news report from Tampa with an EV burning down a house because the owner didn't move it before the Hurricane.
EVs can't drive away before a hurricane?
To answer your question, yes, your videos are informative and insightful. I've been following them right along. You touch upon topics that I didn't know anything about or go into detail on topics I was aware but on a superficial level. You do your homework with retrieving facts and telling it like it is. I say keep it up.
I am USPS Mail Handler and last 3 November contract raises are only 1.3% each year . Plus we get a very little COLA too. I was better off 4-5 years ago making less and everything cost less. Getting a small 1.3 % increase a year doesn’t cover anything. Our Health Premiums going up over $1000 a year . But we get a 1.3% raise that $905 a year. It BULL$HIT
Since 1980, 51 trillion $ have been transferred from the middle and working classes to the top 1%.
Probably more than that.. sounds like a low figure..
@@kathyschlect4852 You're probably right. Much of that figure if not all is reflected in the national debt. The tax burden was shifted on the shoulders of the middle & working classes.
There are no decent jobs. My son has been looking for a year now. Ive been out of work for a year. And one candidate thinks abortion is the top priority. Abortion doesn't put bread on the table
True, but abortion makes sure there are less mouths at the table so you can eat more bread.
Candidates try to play on emotional topics to win votes
Not sure what you define as a "decent job". Do you have any credentials, education or skills? Those determine the jobs you will be offered, Christopher. 💣
But there is more bread to go around the table with less mouths to feed.
I have bread on my table. I also have a daughter of child bearing age that I don't want Doctors to refuse to provide healthcare to her if she is pregnant because she is not close enough to death to meet the laws requirements. P.S. The unemployment rate is 4.1%. So you are telling me you can't find ANY job in a year or you just can't find one you want to do?
Dummies overpaying for an auto or home, did it to themselves. Overpaying over msrp no other era have people been so foolish.
It's true. People say things like, "Oh I had to buy a new car" or "we just had a baby we needed a bigger house". But they're just stupid. They could have repaired the old car, they could have just stayed in the place they were at. The big spenders are usually optimistic types, these are really bad times to be an optimist.
@@Ziegfried82 Many people living beyond their means. Keeping up with the Jones' is a real issue.
Are you implying that no one ever told them that if you pick up that little snake in the grass who’s smiling at you he will not bite you once picked up?
More money than brains.
Easy come, easy go. From the Bank of Mom and Dad.
Thank you..
I like the information about corporations closing stores and data about economic conditions. I don't hear that elsewhere. More of the same please.
I greatly appreciate the ground data confirming my sense, my gatherings as to the state of the state...
4:29 so new car loans and sales are down… that means fewer poor people are buying cars they can’t afford. That’s a win for everyone I think.
I see Mc Donald’s, Starbucks and all fast food around my area always packed.
People borrowing to eat out. The eating out is way above inflation the last 3 years. I wonder if those fast food stores will be around in the next 5 years. I can almost image people saying remember MC Donald being around everywhere but now you can't find a single store anywhere.
McD's by my house has zero cars in the drive thru during lunch hour. Even the Culvers isn't as busy as it used to be!
The only people who eat at either are very poor or extremely wealthy. Seriously.
@Wasupup Not in my area. In fact, most of Starbucks closed their doors, and another coffee shops replaced them already.
That's what I say, too. In my city (Austin), restaurants are packed, the bars on the weekends are packed. Every morning, a line of cars at Starbucks and other coffee places. When Michael Bordenero talks about the economy being bad, I'm like, "Where??" People seem to be doing fine. I've gone to Houston, Dallas, Ft Worth, and San Antonio and people seem to be doing fine. Sure, there are poor people everywhere, but the restaurants are still packed like they were ten years ago.
i make 120k a year. my wife makes 70k a year. Together we cant find a home. Some real turds in vermont being pawned off as a 350k house. No reason to buy these lemons and spend the next 20 years trying to afford the repairs that have been neglected all for the sake of saying i own it
80k alone and 21
How much do y’all save a month after all expenses?
Why not build a house? With combined $190k you could pay off a $300k house in 3-4 years.
And that is exactly what those "cheap" houses that Boomers bought back in the 80's were. Sh8tty ass houses that they could barely afford to buy and they spent the next several decades fixing/maintaining.
@@bigbuzz707 The problem is the lack of family formation. The concept of getting married and having kids at 25 is out the window.
I bought a 3000 sqft barndominium (half is a RV garage) on .5 acres in central Texas in June this year that was just finished before I moved in. It was $365k but I paid $316,000 with closing costs covered, and it's in the country but not too far from a few cities. The heat takes getting used to, but I'm glad I don't have to rent the rest of my life. TBF, I used a VA loan and I'm exempt from property taxes, and got a 6.25% APR. The payment is 60% of my 45k annual income, but I plan to retire in this house so it's fine.