Best Buy Warns - The U.S. Economy is About to Crash
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- Опубліковано 16 вер 2024
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My factory job cut my hours last Friday. I guess they know that something is about to happen because they refuse to admit that they are cutting hours due to the economy. They have never cut hours in 23 years since they’ve been in business
Going through the same with my job. Hours were cut on top of overtime being banned. Word around the job is that layoffs are coming next... Apparently all due to the economy.
This notion that consumers are poised to borrow is insane. There may be a tiny percentage that that is true for but the reality is most are already borrowed to the point of going under.
My credit score went to 800 after had to get bailed out by relatives. So I am in a position to borrow but I'll never spend another red dime on anything past ramen. I wouldn't participate in this shit show for the rest of life if my dick depended on it.
I don't know why these corporate giants are "warning" us. What the eff do they expect US to do about their greed problem? Right now, we are warning THEM! 😂
are you? i dont think so. you should. they are pushing you out of normal life.
Yes they are the issue we didn't create this fake facade of a system and now we all are going to pay..big time.its like helping a gambling problem
I have a friend who is a mortgage broker and he says most REFINANCE MORTAGES have rolled all their clients debt into the new loan. Car & truck payments, credit card debt, misc. other loan balances, etc.. The surprising thing is his clients are earning significant incomes and still can't stay out of debt and they can't even pay the closing costs, they have to roll that into the new loan. These same clients were refinancing a few years ago. Very common he says.
this is how the US Treasury refinances US Gov debt weekly.
Inflation puts spending beyond means as a very bad strategy as it keeps compounding.
This is exactly what led up to the 2008 financial crisis. People used their houses as "ATM machines" was the common theme.
@@PhilippinesFarmLife as Albert Enstien is alleged to have said,. space and human stupidity, the depths of both I believe are infinite, although I'm not 100% certain about space.
... and as for saving, forget it! 👍
duh, i walked around the storefor a half hour and no one even asked me for help, there were so many team members just standing around, such a poor use of capital.
Your best buy sucks lol. Mine greet me at the door and has very attentive employees
I actually wish more places would not say anything to me. I love it. You should of walked up to someone if you had a question.
@@johnjone965 lucky you 🍀
@@drblitz3092 it's a thin line between love and despite!
@@drblitz3092agreed!!!
It's so Dire.............. ......I just SHARTED
😂😂😂
Thanks. I'm buying shares of Fruit of the Loom.
Omg, Mark. That's dire. I hope you're alright.
Buying shares of Levi and faded glory, I hope you well
Bless you.
It makes no sense. The only reason they are running out of money is bc the big CEO’s don’t want to take a pay cut 🤷🏻♂️ yeah people don’t have money to spend but all of these massive corporations have been ripping consumers off for so long. You would think they would have saved some money in case something like the is happens. Just saying
nah
I honestly didn’t know Best Buy was still in business. Why would anyone overspend just to get electronics at a Best Buy?
Where else can we shop?
The warranty and the credit lines brozo
You don’t overspend. They match online prices. Also, they refund if the price drops within a certain number of days.
I like to look at things and touch them before I buy them. I guess I’m old.
I shop at Best buy because the items are available physically immediately when I need them and don't have to wait for shipping
They hire cute cashiers that like tech
People will use stores like BEST BUY TO PHYSICALLY look at a prospective product they want to buy. But then they go online to check for a cheaper price and if it is cheaper then they BUY IT ONLINE .
Im feeling a Jim Jones special kool aid event coming on.
Circuit City 2.0
😂😂😂. Nice
Circuit City and Radio Shack were better stores than Best Buy. Best Buy is like Apple, Circuit City was like android
I have no extra money to spend for toys at Best Buy. Barely surviving.
Get a rich man? ( by your name )
Best Buy should’ve restructured itself to a more online focused years ago, now they’re kicking themselves
No, they are hiring high school kids & let go of there long tenured people. When I started, most people on my team were already there for 5 years and it was the same until covid. Expert service and having someone who could guide you through a purchase and also install/set up your device is what gave them the competitive edge. They need to focus on their employees more.
Whadya mean we're running out of money, ffs, start up the printing presses, buy more ink, chop chop,
The problem here is that consumers can’t print their own money
😂
@@sound4mation there's your answer in a nutshell, consumers, just another commodity who from all current indicators are not pulling their weight, slackers.
Hahaha exactly. Biden go into the basement get busy. You’re sleeping toooo much.
ffs just turn us into Venezuela
It's so dire Best Buy's stock is at a 2 year high. It's only up 14% today. Oh, and I nearly forgot, the company is only valued at $19 billion.
Those numbers are inflation adjusted.
Best Buy had a laughably bad business model 15 years ago and more. They wanted to add a warranty on EVERYTHING, even those pens that hang on the racks near the cashier. "Do you want a 2 year warranty with that?" How these clowns survived this long should be an investigation itself.
I purchased the 2 year warranty for my pen. Is this not normal? I figured that I’d use all the ink before then and tell them it wasn’t full when I bought it otherwise who uses that much ink in under 2 years? Rinse and repeat am I wrong?
Free pens.
/s.
@@Chronicheaven You are wrong. As are the people who clip coupons. You are wasting hours per week/month managing an expense that you could cover in 15 minutes of a real job.
Their new business model includes giving economic forecasts.
All spot on except attributing the cause of inflation.
Inflation is being driven by government borrowing and endless Federal Reserve printing, not consumers. The Fed pumped 16 trillion into the economy since 2020. Yes, some inflation came from consumer spending, but once the stimulus money ran out, and consumers stopped shopping, then it was all about the Fed. They are the ones running up the deficit and driving inflation with their easy money and the oversupply of dollars in our economy.
How about inflation driven by corporations and companies like Blackrock (?)...all who borrow with other people's money and then cash in on the assets and then dump the purchased company leaving debt and unemployment. Just business.
@@patrickrussell1888Them too
4:16 okay now I see what's happening here. Very informative video 👾
Screw it, I'll put my financial situation out there. Lets compare if its really that bad. Salary $84k a year, $40k in HYSA, $10k checking. Wife $64k, $10k savings. We rent for $2300 with no utilities. Own 1 paid off car. No kids yet. Not here to brag, not nearly a flex. Just genuinely curious. From Sw Florida.
Are we actually screwed financially, or do we know when the wool is been pulled over our eyes and beaten. Nancy Peloci over here making $10 million in one week, while they money printer is left running, and us paying for it all.
I would've guessed, "They're out...of money!"😂
I really dislike the word "discretionary" in regard to spending, mainly becuase it is so vague and frankly confusing. Can't we just refer to spending as either for "essential" or "non-essential" items? As far as dollar stores are concerned, in particular Dollar Tree, I rarely if ever shop there because over the last several years this chain has been actively and systematically de-contenting its merchandise, so that you are now paying double and triple for items. I find this particularly smarmy to the point that if I need something that I used to buy from Dollar Tree I will instead buy from Winco, an excellent grocery store chain that I would much rather patronize.
NOW GET OUT!!!
*GET OUT NOW!!!*
😂
No, buy any dips!
They're getting rid of physical media, so there is less reason to browse the store.
Best Buy is crashing because ppl have most of what they need in electronics at home. There is less demand and given the options between buying food or games, computer games are not a necessity
I’d rather spend money on electronics then on a women to be honest
Don't worry, sloppy Joe has everything under control
And Harris is going to keep the train going towards the cliff .LMAO
Grain farmers in major down turn. it will pass through. But food prices will remain high.
Every Best Buy I've been into recently were empty.
Oh well. More Bail Outs Rate Cuts Stimulus checks and Inflationary pressure. Cool 😎
People will buy anything lol
Best Buy? Circuit City? I can't tell the difference nneeeoowwww
It certainly doesn't show in Longshore union where we have been busier with ship trades then ever in my last several years working. We can't even keep up working overtime with our workers. Container ships/car ships are insane. I'm wondering if its just we're all just buying oversees?
The numbers, and the charts, don't lie. Thanks for using them to reveal so much, Steve!
It’s Shocking !!
Shit, it's gotten so bad that when someone actually gets hired today, they're a damn elite soldier on a mission in productivity.
After they removed the blu-rays and video games, I have no reason to visit Best Buy, anymore. I would arrive to shop for low ticket items, and then browse high ticket items. Now I don't browse at all.
When prices double and salaries go up buy 3% the first problem is making basic bills. Second problem is half as much to buy consumer goods at new prices. Govt. wanted the economy to slow down. And it did!
It's been a big beautiful bubble
NVIDIA = CISCO in 1999
Remember Lucent Technologies? Lol
Here is our optimist!
Funny, the DOW has been over 40,000 f9r a few weeks
Hello Steve 👋 what do you think of the etf UVIX (2x vix futures)??
THEYRE RUNNING……………OUT OF MONEY
I’m curious about UVIX cause I don’t think it ever moves with futures or anything.
We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them.
Another day another warding from Steve. I will say he's consistent
WE ARE F EN DOOMED. THERES NO WAY OUT ! THANK YOU STEVEN. BLESSINGS TO ALL.
Do what retailers are the best shorts?
No crap, everyone I know with the exception of a few people are broke and have no money for anything but food and groceries.
Make me the Supreme Leader (Dictator) of this country. I WILL have it better off than it's ever been. And I'll do it in 20 years or less.
What about the by backs , my friend?
Is Best Buy the next chain store to close the number of locations? Anybody remember Radio Shack?
Diamonds Are Forever.❤
AI is ahead of themselves they have no power to move forward
Can corporations apply for more billion dollar debts to buyback shares to inflate market caps and share prices?
GET OUT OF BEST BUY NOW.!!!!
They’re up 14% after reporting and are at a 52 week high. Not seeing it
This is what happens when politicians become greedy.
Cory needs another raise.
Don't you get it Steve? Initial claims are NEVER going to increase, no matter how many millions get laid off. 🙄
I’ve been hearing THE END HERE now for about the last two years… Starting to just be background noise…
Nobody truly knows when it's going to crash. It's wildly unpredictable of when. When it comes to a question of if though, there's no way we're not getting one.
As long as the people don't get the support they need from the government, it will bite us in the ass.
All we can do is pay attention to the signs. The ones you see in person around you carry more weight than the noise you hear in the news.
No, they did not have the money to buy during the pandemic.A little checked from the federal government is not a whole lot to buy stuff with a lot of people were unemployed.A lot of businesses were lost, people did not have the money.They were losing money
Printer on fire!
You will get better service and prices from a contractor with a van lol. That’s what all of their employees they fired ended up doing. They need less customers because they spend more time with you and do everything.
Makes mo sense. Best Buy has excellent retail displays in their stores; from smartphones to laptops and televisions. Electronics manufacturers would suffer without them. Sadly, they don't have a culture store like Apple. Best Buy should change their marketing to compete. They should lead with AI and robotics. Then hire people on the floor who can talk the talk, or robots with learning capabilities, Secondly, they should update their brand name. "Best Buy" is old school. Lead with a breakthrough name, like Botix. Consumers will spend, but they need a reason. I want electronics with AI far beyond Stupid Alexa.
Best Buy can’t even provide good in store customer support. I’m not taking economic forecast from them
Honestly, this concerns me and has left me uneasy. Especially this potential depression, no more a recession. I'm unsure about my $130K account strategy, considering the uncertainty of this whole recession mostly.
You guys have been guessing a market crash for over a year now, maybe you should try something else. The only thing that has happened is a market adjustment in august cause tech markets over priced their value.
You been saying this for years. No crash
Steve! Unless
Investing is the key. So you need to earn enough to save enough to invest enough to stay ahead of inflation and later live on interest, while always keeping the principle growing faster than inflation.
I'm not an expert by any means but I have the answer you don't seem to have regarding your question about why interest rates cuts worked by the Pandemic and they won't work now... The answer is the free money people got from the government so they were willing to spend it jn stupid stuff such as paying over the msrp price just to get a bad quality truck or buying overpriced bad quality homes located in the middle of nowhere. But no worries, vote for Kamala and the printers will be set up in full throttle mode for more stupid free money programs that won't make a dent in the situation we are now, which by the way is really bad... As bad as it can be and far beyond. So Ladies and Gentlemen, adjust your seatbelts because the bumpy ride is about to start
Money talks, bullshit walks.
Get ready for a Economic Surprise....IMO it shouldn't be a surprise.
"Wages aren't keeping up with inflation". And that is what bites fools that print too much money.
If its so bad why is the market making new highs?
Military and government workers spending , my sister works from home making almost 200k working a government job
Hold tight folks we have heard this before wait till after November election and Christmas spending that will tell us the market truth.
I wish they would find a real cure to all mental illnesses ... some people come with the whole package
Oh Steve, it is much worser than what you have said!
It's been "about to crash" for 6 years if your gonna do it, stop teasing me and crash so I can afford a damn home. Give me my great depression and historically long povrish, time period that I'm already currently experiencing with some sort of unforseen economic boom and stop trailing me with this hot burning dumpster fire
Housing has begun the decline down. Especially in Florida and Texas.
God please protect our precious puts
I'm sick and tired of all these UA-camrs saying that the economy is going to collapse. It's as if they're WANTING to collapse.
If things continue to get worse it obviously will have a chance of crashing.
@@Nisha_xoI honestly can’t wait. I want to start fresh and prices to come down so I can actually buy stuff
GET OUT NOW! Book your one way ticket to the ISS with Boeing.
Steve, stop making us hang on, now you started off with Best Buy Warning, will you please start with that!
You say this shit every week
My portfolio is finally in the Green this Month 🎉
a quick search thru all of your videos finds that its all doom and gloom.
Get out of Best Buy neooowwww!
Hell is hare!! Get Out Meeeeeoowww!!!
ok, GET OUT NOW!!!~
I'd bet on best buy going out of business
Best buy has sucked for 20 years
Get out naaaaaoooowwwww
Bye-bye, worst Buy.
ITS - THE END OF THE WORLD
This video just dropped and you have comments saying this video was amazing. Why did you buy bots?
Who cares. Best Buy is now Bad Buy.
Is Steven ever right?
Yes Unlike you he applies his brain And considers the information in front of him.
@@ericmatt2368What a cock response. You know nothing about me!
PLEASE put some energy behind your words so that you sound serious.
Some people just talk like that and it's their demeanor.
@@brianliew5901 Oh, bust my buttons!
@@rogersmith8480 Cool it, dude, not everyone can rant like Biden or Trump. 😂😂😂😂😂
We didn’t have these problems 4 years ago
💯
Trump 2024
AI bubble