People Are In SERIOUS TROUBLE! YOLO Spending IS OVER
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- Опубліковано 5 чер 2024
- The days of everybody spending money they don't have is coming to an end. And don't just take my word for it. All you have to do is look at recent earnings reports from companies like target Starbucks, McDonald's and they're all going down. People are being forced to cut back on spending just to afford the essentials right now. Just another sign of a "strong" economy...
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In these uncertain times, it's more important than ever to have a solid understanding of how to manage your finances, invest wisely and navigate economic downturns. But my primary concern is how to grow my reserve of $240k which has been sitting duck since forever with zero to no gains, sure I'm all in on the long term game, but with my savings are lying waste to inflation and my portfolio losing gains everyday, I need a remedy.
If you need advice, consider speaking with a financial advisor. Don't get me wrong, you can do it on your own, but financial advisors have a lot more knowledge and expertise in this area.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited £560k in 2022 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
That's impressive! I could really use the expertise of this manager for my dwindling portfolio. Who’s the professional guiding you?
Finding financial advisors like Melissa Terri Swayne who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them.
I checked Melissa up out of curiosity and i must say i am impressed by her Credentials. i emailed her already, waiting on her response.
The false job advertisements are spot on. People all over the country are reporting about applying for jobs of all sorts, and never hear a word back.
Huh, so they say. Who are these people? What are their skills and qualifications? Experience? How do you know that they aren't just losers?
@briandbeaudin9166 because even loses get hired when workers are needed..
But why, why would all of these places say they need workers when they don’t? Is there a government incentive to be looking for workers?
I apply weekly, responses are you don't qualify, even though I have the experience 35+ years of retail, plus 2 degrees.
You should NEVER apply to job postings that ask for your full home address, that information is only needed when you get a job offer from a company you have verified in business for X years, my advise is to give the address of your local Walmart when applying for a job, if it is legit company you can tell them you have recently moved to your real address!
I’ve applied for multiple jobs and was told I’ve done very well in the interview process. I’ve been on 7 interviews. Not one of those places called me back and yes I have my sh*t together. I think you’re absolutely correct that there are job opening with no intentions of actually filling those positions.
Absolutely! I’ve heard this from several different people.
I'm seeing it too bro...
Maybe they run those ads just to see who will turn up. Maybe they want to confuse or conscript the 'competition' !
I can see that, businesses can then tell their employees they have job offering out there but haven't gotten any viable applicants. Then they continue to make the employees they do have do twice the work for the same pay. Well maybe not all businesses do that but im sure some do to some degree. Also some businesses keep job postings always because then they can claim they are hiring which makes them look good.
@@Twotone-ld1fb I dont believe that. Recruitment is expensive especially if you are using recruitment agencies. Th
Why does it take an economic downturn for folks to realize they don't need some things? Just reckless spending forever!
ever told someone not to touch something hot, and they touch it anyway and get burned?
They get these ideas from their mentor. Uncle Sam.
Big government is setting the example. Borrow, borrow, borrow. Tell you are paying more in interest then you make.
People are looking for a “ fix “ to feel good .. spending $ stimulates the pleasure centers in the brain .. it becomes addictive if you don’t change your outlook on life ✨
I’m beginning to realize that the people posting complaining about things like how crappy restaurant and fast food taste now are probably the same ones that can no longer afford to eat there anymore and it’s their way of coping.
Went to my favorite pizza place for lunch today only to find out its last day in business is Sunday. They made it through 2020, but now it's not profitable. Fewer people eating out, higher input, and labor costs. 6 more people unemployed. Sad.
Interesting, I have never actually seen a pizza place go out of business.
He should do a big push on social media 😢 place by me does 1/2 price large pies pickup only. Did it through Covid too I think. $15 pie w/ the works. 😮
The small gym where my daughter did krav_maga went out of business. (Other than the economy)I think it was that they raised rents sky high. Our across the street neighbors closed their restaurant in 2018 when they first raised the rents. They were smart to get out and pivot to catering before they bled out.
It seems that many restaurants, when faced with closure, should explore a smaller shop, a drive-through affair, or food truck. Some can make changes where they don't need as many workers or so much equipment that eats up electric. They can modify their menus, too. I know some have. If you look at other countries, they don't seem to have the oversized eateries that we do. They seem to be more "shops" where you give them your order, and you can sit at one of a few tables, or take it with you. Really good food will always get customers. But America isn't serving good food much any more.
@@BillySBCa lot of places that rent or lease the building are going out of business
recession is when your neighbor loses his job. depression is when you both lose your jobs.
Enough with this saying.
Fear mongering seems to be very popularly with social media
@@aaron___6014Some of these lot are a bit dramatic aren't they.
Also called retirement.
Retired debt free in my 40s.
@@blackworldtraveler3711 Congratulations man ! Any financial tips, ways of thinking or books to read?
Kellogg's, Nestle, McDonald's, Burger King, KFC, too many to list. They are not getting any of my business.
You will be healthier and save $ on healthcare.
@@sct4040 Veggies and Pulses. Plus a little Red Meat now and then !
Good riddance. Most of that poison is banned in other countries.
When do that ever matter?
People have been saying things like that when I was buying McDonald’s stock at $2 a share years ago.
@@linmal2242 There are so many options for healthy breakfast that can be made at home: pancakes, oatmeal, scrambled tofu or eggs. roasted potatoes, sausages. Homemade and freezable burritos! Good tutorials on YT.
Yes, my company has 400 job openings but never hires anyone...we had 16 in our group then 8....now 4 as of this week....all of us doing 4x more work, on call and being burnt out....
That's your fault. Stop working do hard. They don't hire because you keep taking the work for free.
Our mortgage company called us and wanted us to take out a loan because we have too much equity in our home. They asked us, “Don’t you want a new car or a vacation of a life time?” We said NO…..we already have that and we have enough cash on hand. They wanted to know how much money we had in the bank. We told them it was none of their business. Sheesh!
Or don't you want our credit card, look at the vacation you could take to Norway or Europe. I'll jump right on that! Got that email today.
I have been right so far about hard recession occurring at the end of 2024 or first quarter 2025. All signs point toward it. And so when these people go broke that were encouraged to pile on the debt, I feel no pity toward the lenders.
Definitely don’t do it! Michael just made a video about this recently, did you see it?
It was nice of them to call and let you know the mortgage business is piss poor right now.
Same thing happened to me. I said no as well!!
No one can pay rent , buy groceries, see a doctor, get dental care, child care, medicine, so who is spending money when we are being starved
The people without scruples, without a moral compass, both low and high.
First world problems
I canceled health insurance 🙁
@@lilyoquendo3485 They don't pay their share anymore anyway.
.... In a country with 250 dollar guns......
Worked as a field technician for 21 years. I saw 2 Amazon worker delivered a package through a front lobby while I was waiting. I said to him I probably do what he’s doing delivering packages if I was laid off. It’s tough man he said I was laid off from Tesla as a production supervisor got to do it to pay bills
Google and Teslas laid off alot of employees!!!
I went to a Dallas Cheesecake Factory at 1 pm today. It was almost empty. Previously you had to wait for a table. The food there is crap. It was someone’s birthday. It is so expensive, and reheated crap. They are going down. They have no standards at all now.
Their food is no good
Will it be another one bites the dust!😮
I wouldn't trust the safety of the food when no one is eating there
Wouldn’t know.
I cook at home.
Many of you have this weird addiction to restaurants.
@@blackworldtraveler3711 It was my friend’s birthday. I didn’t want to go there, and never will again.
Everyone should quit spending so much! We need to let this economy crash
Agreed!
It's pent up buyer frustration from the virus period, people couldn't get stuff and now they can. Same exact thing happened when World War 2 ended, took about 5 years to straighten out, we're now in year 3.
Exactly. People complain but then support what they're complaining about
It's inevitable & I think regardless if people spend or not, it's (The market) going to crash. Scary
😆🤣
lets be frank.....We are looking at the biggest bankruptcy binge we have ever seen
I’m Frank 👍🏻
If I was named frank. I would say can I be Frank with you? And then chuckle. It
Would be a hoot.
And foreclosures
@@Frank-qs3pe 🤭
YUP... Aside from the "GREAT DEPRESSION" ‼️💯😓
8:25 "They'll try to do something to save the economy" Yeah. WW3.
🎯🎯🎯
Or pandemic episode 2. Bird flu is starting up just in time.
I don't know if that works any more; warfare is just too high-tech these days with years of training involved.
Although Ruzzians are shoving conscripts into the face of machine guns just like WW1 ............
(World War One - Battle of Ypres) !
Talk about deplete your population; going to be a lot of lonely Russian widows and girls . !
Support for ISIS in Syria was from giant concrete corporations...no joke.
No shit.
As a trucker i despise this time of year. So many families even in these tough times are out here running around the country, buying all kinds of Chinese products cuz their brats are screaming at the top of their lungs. I really thought it would slow down a lot more than this. They'll learn soon enough.
I'm Gen X of a single mom, disabled since I was a minor. On disability since 9-11/01, and happy going without. A bicycle and roller skates with a few toys and games. We were not too expensive. But now, with all of these expensive and addictive techno-toys and toxic TikTok, good grief. Falling apart, yes. Jerry Springer society now. Sad. 😢
You probably don't realize that the average family traveling this summer doesn't have money issues.
@@AssetAddictOh yes they do, they just think they don’t, but they do. The numbers prove it, but mainstream media along with their own gluttony does not let them see the obvious.
@@AssetAddictmany are putting travel on credit cards and carrying a balance month to month paying 25%+ interest rates. If you have a credit card, you can travel too
So grateful to the huge favor my bratty teen gifted with goodbye 10 years ago. He’s been his irresponsibly financial father’s problem ever since and always will be.
Blows my mind that so many people have less than 500 dollars in savings. So many coworkers and customers I see every day wasting money on frivolous, useless things. I live a Monkish lifestyle of frugality, zero debt, only utilities and rent, don't even own a vehicle as I hike to work and live in a small enough town that I can get to everywhere in under an hour walking. Great exercise as well.
Go watch the Patrick Marshall - you wish you had it - video....
I know a woman who just got her student loans forgiven so now she gets massages all the time and is planning a 3-week jaunt to Spain. Your hard earned tax money at work!
I will only have about 1000 in my savings account by the end of the month. $18,000 I saved the last 2 years going to a new roof.
Monk Mode has saved your life, young eloquent. Live two levels below your means. 15 bean soup for dinner and lunch. This is your life now.
@@DIVISIONINCISION Heh, I wish I was young, just an old grunt who lost everything due to divorce 20 years ago and had to rebuild from the ground up. You realize there ain't a lot you NEED, and some small sacrifices end up paying off later.
🎉🎉🎉 Hi Mr. Michael 👋🏼
I’ve been saying for the last couple years that we are ALREADY IN A RECESSION❗️ but I guess that a lot of people are just living under rocks 😣.
Thank you for always sharing the TRUTH with us.
Blessings,Carlos ✝️🙏❤️😊🇺🇸
For once, I agree with you, Carlito. I still think you are a fool for staying in Califas, though.
This is actually a depression. We haven’t seen the worst of it yet.
I run an eBay store and I'm noticing this in my store. During the pandemic years, it was impossible to keep items in stocks as my items would sell as soon as I list. This is the first year I'm noticing that it's taking a long time to sell things that would be off the shelf from the end of the week to the end of the day. People are not impulse buying my things like they were a few years back.
I sold most of my handbags in 2021-2022. It was a good thing I did. Fashionphile and Thredup has slowed down.
My wife and I spent all our stimulus money paying down our car loan. We retired a bit over a year ago with NO DEBT.
That's good, but what is your monthly fixed income?
No debt, but had a car loan?
@@networth00 Paid off the vehicle BEFORE we retired.
@@bujmoose3992 Bravo !
Smart move. We are retired, no debt, only way we can afford life!
Fortunately, I trust no one. The people I should have been able to trust the most took the most advantage. People just want money.
You sound like me , I have NO TRUST IN ANYONE .
Ya, my motto is cps,,,,😢cause people suck!!!!
I trust Jesus(God).
Whatever you do don’t question the room, everything else is fair game.
A good black friend told me some advice years ago I use every day? "Never Trust Whitey" Yeah, I'm white.
I guess living below your means is a foreign concept to most modern people.
I half agree. I think people see the prosperity of previous generations and see they aren't getting that and aren't dealing with that reality in a healthy way. But I also believe people are reckless
yeah but I really really want that new sleeve tattoo! I deserve and it is so cool!!
in a lot of cases it is near impossible right now. Especially in CA. Stuff is so much higher because of minimum wage increases and Government mandates that made stuff cost more.
Drive a 30 yr old car and buy used clothes yet live in a paid off house, my home brewed coffee beats the hell the hell out of $5 Starbucks. Still costs me about 90 cents with half n half. Look poor, be humble.
Every one already live below means are you all serious right now
I still think if big business hadn't shipped our jobs overseas to make more money for their CEO's, etc. the economy would be in much better shape. Where in any universe does a CEO deserve over 15 million a year pay+benefits?????
Agreed!
The older I get the more Medical I need. Spending daily on supplies for Psoriatic Arthritis.
Everything has to be delivered and I am house bound now. Spending is daily.
So I love the "do not spend" remarks. Makes me feel all warm and fuzzy. Health is fleeting..............................................in your 70's.
Good Luck and God Bless.
If you want to be alive tomorrow, stop spending today.
I ride a motorcycle..... There might not be tomorrow...... Lol or I just might be crippled and can't make enough YOLO LOL
@@ellwoodwolf - For sure. It's your life. I love motorcycles but I no longer want to risk it. I've had 4 of them in my lifetime. So much fun. If you think the risk is worth it, I would live my life to the fullest and ride it. If not, stop riding. There is no right answer.
@@ellwoodwolf also a rider. cost of tires and routine maintenance + average mpg with stop and go traffic and high torque < average sedan. this isn't he 60's anymore. you need to consider the increased stupidity of the public sharing the road with you.
I'm sorry, but I'm rich and you clearly are not. Simply put, it's the difference in how we see the same problem. You save, I panic and find ways to make more money. Saving never made anyone I know rich. I hope you understand my point.
@@AssetAddict - Most millionaires I know save. In fact Dave Ramsey says to save 15% of your check for retirement. However, he only has $200 million, so his opinion doesn't count.
Heck, I’m cautious about spending money I DO have.
Exactly!
Smart. Conscious living matters.
As a retired bankruptcy court employee, I agree with you. Kudos.
Americans think that they are rich if they can afford to borrow money.
Funny how that works out isn’t it.
Debt slaves and that's want elite want for us.
...what a great comment!
Absolutely true if you can’t afford it, try not to buy it obviously, it’s much more difficult for families with young children
Well put!
What stimi money? I got about $4000 but I have lost 10 times that to inflation by overpaying for everything.
Those that stole millions of PPP loans and then filed for loan forgiveness are the ones that retired as millionaires
I'm going to retire as a "hundredaire", lol
Many already were multimillionaires. Had the sniff of pay off.
$7 for 1-cup Starbucks coffee or $6.54 for 54 cups of Walmart Great Value coffee lmao 🤣- I know what I choose at my house!
thats because its not coffee
I buy the Wal-Mart Great Value, all the flavors are great, and the coffee is always fresh.
@@janedoe1404 try the ice cream Im sure its great too and wont even melt in the hot sun
Reusable K-Cup and Sam's Club Medium Roast.
@@awakenedone2396we buy the ice cream too and it’s delicious. My son and I like soft serve so we zap in micro a little so it indeed melts.
Michael, Keep doing what your doing - Speaking the truth. There is a proverb that says, "the truth angers those it doesn't convince." Your voice is desperately needed, because those at the levers of power and control will lie right down to the very end. As the house burns, they will pee on your shoes and tell you its raining. We've reached the point where almost everything in this nation is non believeable.
Yep! The truth WILL set you FREE!
Agreed but sometimes I have to take a couple day break from Michael. The myth of scarcity does produce a self fulfilling prophecy. You have to be positive and follow his advice. Move your savings to high yields and save your money. Be prepared so a small thing doesn’t knock you off your game. Just keep silently building your wealth.
The truth cannot be told, it can only be realized.
, "the truth angers those it doesn't convince." it sure does.. it infuriates them.....
The governments the worst at YOLOing our money
True words
😂😂😂
I think each individual is worse at it.
No gun to head to get in debt up to eyeballs over stuff.
Half the population already killed their retirement financial future alone just from things like financing of new cars and buying too much home they can’t truly afford.
@@blackworldtraveler3711 fair enough, I don't disagree, I tell people all time that If you retire broke in America you're a duma$$.. when buying my house in 2019, the bank laughed at me for only spending 300k of the approved 700k they offered me.. im comfortably paying off my house and I'm completely happy with my choice
@@blackworldtraveler3711 agree. We should all live in cardboard boxes and not drive cars anymore 😃
I fly a lot for work. Planes are full, lots of families traveling domestically and international. Fares are $$$$$! So where all these families getting the money from?? Maxing out CC??
Isn’t it obvious? Michael is a bit of a clickbait artist. Plain and simple he is mostly wrong about the economy.
The top 20% are in a very different reality than the bottom 80%
@@mrscassandrasolano Need to figure out how to get to that 20% lol
The stores are cutting prices because no one can afford basic necessities
And the Manufacturing companies did this shrinkflation
They know it's a race to the bottom.
@@debbiec6216 Dollar General Campbells soup is like half the size you find at WalMart? WalMart Cambells soup is smaller than before the pandemic. I stocked up on it. I can compare it.
@@broncobra Cambells can have that soup, in my opinion, it has too much salt . I'll make my own soup .
@@debbiec6216 I agree? It was knee jerk reaction. KUDOs to you? Not many girls know how to cook nowadays? My ex didn't? you are a keeper!
I made Thanksgiving, holy schnikie? YEARS ago? I did everything? Ex Wife was amazed. Her mom was amazed. It all turned out perfect?
Different foods need to be cooked at different times, all that. Big spread? Everything? Skills that are lacking now..Good Luck and God Bless.
I always lived below my means. I'm cool and even saving.
I tell younger people that just breaking even with your check isn't good enough, you have to save, life will find a way to cost you, and if you're ready it's not a big deal, not prepared and you're in trouble
I live below my means but the utility company still raises there prices,so does the property taxes and the insurance companies.
The only thing I can’t drop is the cable. Husband is partly disabled and that’s his only distraction from pain.
The inflation over the last few years has been horrendous. Never seen anything like it
Reaganantics
@mikesmith6461 really , with all the democrat presidents since him
@@eddiekulp1241Carter wanted us to be frugal and pay more without borrowing. We went into recession. Reagan blew that right out of the water with lots of borrowing. People were ecstatic it was good times again but didn't understand they were creating a ticking time bomb.
STOP SPENDING MONEY NOW AND REFUSE TO WORK FOR ANY EMPLOYER THAT EXPLOITS YOU IN ANY WAY, IF WE COME TOGETHER AS ONE WE CAN FINALLY GIVE THESE COMPANIES AND ELITES THE COLLECTIVE KARMA THAT THEY DESERVE. THE POWER OF THE PEOPLE IS STRONG AND WE DON’T HAVE TO RISK OUR LIVES TO PUT UP A FIGHT, INSTEAD WE HAVE TO BE SMART AND USE OUR ECONOMIC LEVERAGE TO TANK THIS OPPRESSIVE ECONOMY.
Man, i am SOO grateful to live rural Alabama with only a $47k mortgage! We bought our single wide mobile home new and put it on a plot of land in 2020 and the total cost was $57k.
My 1997, Chevrolet Silverado is paid off and im able to save 80% of my paycheck (i make about $800-1,000 a week driving a big truck) home everyday.
Life is good! I could not imagine living in a higher cost area. Our single wide mobile home has 3 beds and two baths, what more could you ask for? And we have ZERO neighbors so i can walk outside butt naked if i wanted to without a care in the world lol and i love being able to target practice my revolver outside as I please without worrying about waking up or annoying any neighbors. Our interest rate on our mobile home is 5%.
So smart of you! Now you can relax and ennoy.
Good job bro, you're doing it right. Not sure what work there is for most people in that situation but if you're making it work then good on you.
Awesome!
@@geocam2Where? What are the parameters?
❤Ssh! Don't tell anyone. Mobile homes for quality of life are the best kept secret in America.
Small recession? I went to Dollar General several months ago. I bought 2 - 12 pack cans of Pedigree dog food. Two 20 lbs - of cat food and 2 Tombstone pizzas. $100! WTF?
I told the clerk, that don't look like $100? She said this country is going to hell. As I left, I wondered how she does it on her Dollar General salary?
Ive always wondered how anybody makes it on those kinda salaries…
I was out riding my motorcycle, stopped for a gas station Gatorade, saw some good looking doughnuts ..... $9. I laughed and "no really" and she said " no it's really $9" wtf....
The dollar store near me now has a five dollar aisle. Convenience stores are for the wealthy.
Make sure your items are ringing up at the right price, Dollar General has had multiple scandals of showing lower prices on the shelf than what they ring up for.
Dollar General is NOT cheap
Compare prices in other stores
Use app coupons
Having fun? I'm so broke that I haven't been able to have fun for over 10 years and this recession is making it way worse, but for my retired mother we'd go under.
Go to the park, playground, free zoo days, walks. Bring lunch or snacks, drinks. All the free stuff is more enjoyable since there is no stress related to them.
She must be a very wise homemaker and had a lot to teach you.
Visit friends, play cards, join a gaming group, garden, read, join a book club. Volunteer. Some hobbies dont cost anything.
You don't understand my life friend, walks are borderline impossible with a severely disabled now an adult child, I've forfeited up my life in the attempt to take care of his extreme needs, trust me my friend my fun consists of one or two private days with my wife.
@@chapman1569 friends? I have literally 2, groups are impossible due to my son's severe disability, I despise gardening, reading isn't my thing either, and if I had a moment to volunteer with as exhausted and stressed out as I am I certainly would not give away my moments of me time and if I were able to I'd fully expect payment for any services, my son is severely handicapped and that makes my homebound and therefore basically my life is forfeit, but; thanks to the Internet I can watch lots of videos to see the interesting places I'll never have the ability to visit.
The vast majority of ads on UA-cam and Instagram are scams, including UA-camrs trying to sell get rich without working formulas and courses. Dan koe
Dedication and humility are the keys to your success. Keep shining.
Your hard work and modesty inspire us all. Congratulations!
It is refreshing to hear someone actually tell daily us how bad it really is getting out there. VS just bald faced lies telling us everything is fine and there is no inflation, perfect economy bla bla bla..
The fact that government spending counts as GDP has always blown my mind, and not in a good way. If governments suddenly decided to pay people to dig holes in the ground and other people to immediately fill them again, that would count as GDP. It's utter nonsense.
I’m in the house right now😂 I actually like driving my paid off Honda Accord better than My Audi!
Exactly. Bought a 2009 Honda Accord 2dr. V6 6 years ago. Still runs perfectly. Hope it outlasts me.
Audi's are a waste of money. My VW Passat TDI is better than anything Audi produces.
Santuary cites such as Chicago and New York City and the immigrant problems adds a new dimension to the upcoming economy.This stuff brings up serious issues down the road.
All worth it for the dems if they can convert them all into voters. The dems are playing the long game on this issue in order to create a complete one party system. They don’t care about the suffering they are causing to the citizens they claim to care about.
The stimulus never changed my life, and would have preferred not to have gotten the checks if it would have saved the US economy. I did not get any PPP loans, but heard of others getting them through their businesses and they bought a high end home to rent.
It was all extremely unfair. But what else is new?
Have you looked through the PPP database? It's public. And they did absolutely 0 vetting. There are fake LLCs on there called "finna get a hellcat llc" with 1 employee that got paid out and forgiven... Go figure. There are youtubers who make compilations from the data.
Let's be real. The stimulus checks were enough to MAYBE cover a month of rent (especially Miami). Talking about it like ppl were filling up their bath tubs with these little stimulus checks is wild.
people actually book trips to Miami to party on those stimmy checks.
Right
@@filmbuff4 My point isn't that people weren't spending the stimulus check irresponsibly, that's obvious. My point is there is no way you are living for free for years because of those stimulus checks. For those that used it to go to Miami, as you stated, that's all they could have done with the little amount of money that was given. My point is we shouldn't allow people to paint a picture of average to low income residents as if we are all free loaders for the past 3 years because the government provided a small amount of money to us when they decided to shut down services that caused people their jobs during COVID. Aim that towards the businesses that took advantage of PPP loans that were upwards of 50,000$ with no plans to pay it back or actually use it for business instead of personal or the squatters that have literally been living for free the last 3 years. This guy in the video like others, bash the average Joe and state stupid shit like "the stimulus checks made ppl spoiled and not want to work".
Topped out at $27hr as a plumber. Might squeeze a $1 or 2 more out of the boss but it won’t be enough. 1wk paid vacay. No health ins, no sick pay, no paid holidays and work is slowing down. Got sent home yesterday. Lost out on 6 hrs of workday. Falling behind on payments. Maxxed out HELP!! Positive note: car is almost paid off
Not having those benefits not good . Small company probably
Find a Union
And here I am, after 30 years as a RR, offering free money, and no one wants it?
Wtf plumbers should make WAY more than that. $27????I was a cosmetics manager making that at Target with no skills or school…where do you live? I thought plumbers make 80-90k a year…….
Same here man. I work for one of the more pricey plumbing companies in my area. There have been days I’m going home at 11-12. People are not spending right now. Hell during the pandemic we could demand almost whatever we wanted. Now, it’s 26/hr and I’m told I’m “overpaid” for the area I work in. Plumb on brother 🫡
You’ve inspired me to ramp up my budget…just consolidated 2 high interest loans TODAY!!!! Now at 0%!!!!!!!
I just freed up 100’s of dollars a month, back into my pocket. It took me 1 1/2 hr on the phone, and I’m floating. Cutting back on spending lately too.
Keep up the good word! 👊🏻 Thank you
Good for you!
It's likely that if you look really hard at the rest of your bills and obligations, you can find other areas that will also save you money. I had to be counting potatoes on my counter to see if I could eat before I called my insurance company and was able to bring down my insurance payments by $1,200 a year. Doesn't sound like much now, but back then insurance was only a fraction of what it is now, and I had four properties where he was charging me for stuff I didn't want or need. He ended up losing his license. I never got my money back. Same with car insurance. Geico was charging me for stacked insurance when I didn't have any other driver for my car. That went on for years, because I didn't know what "stacked" meant, and didn't read my insurance statements right. Never got that money back either. There was NEVER another driver for my car. I think all of us should call these guys once a year and compare prices with other companies.
@@yellowbird5411 you got it! It’s amazing how minor tweaks, can make a huge difference. It takes a bit of effort, but in the end it just keeps your momentum going to look for other things you might be able to toggle.
Good work to you, I’m sorry to hear you had to get to that place in your life. It’s scary. I know how it feels to have nothing. So these wins (no matter how small), can feel like gold! 🎉
Yes, transferring my cc card balance to a no interest cc saved me once too.
That’s good news. Any money you pay in interest is money you’re just throwing out the window. It’s better to knock it out and get rid of it rather than throw your money away.
Does anybody think we are headed for a Depression .
No, we're headed for a recession eventually, and then a bull market eventually, and then a recession eventually. Repeat as necessary.
yep
More like 91-92 Russia.
Or even 50s-60s China.
Don't let it shock you, when the american dollar collapses. It is all intentional. All by design.
It is all working like it's supposed to!!
A consumer economy is not sustainable. Everything is overvalued. If you can't make it on your own swallow your pride and consider moving in with family to split living costs. Then prep for a dark future.
Remote work was increasing before covid. Lots of companies had and still have remote workers. I work for a global company and on my team of 45 people, we are located across several states and a few countries. Programmers and IT people can work from anywhere, as can call center agents and AP, AR positions.
Toyota is laying off 1,300 jobs in the USA.
Well maybe Toyota should give us back the little small 4 cylinder 5-speed pickup trucks and cars that were fun to drive and easy to park that they used to give us for a cheap price? All these car companies do is offer you these gigantic vehicles for $100,000+ dollars and then they wonder why there's nobody at the dealership buying cars.
I love those little trucks. Have a '95 Isuzu in the driveway. They won't come back any time soon. CAFE regs. And greed. Entire automotive market has gone to the fewer units, higher margins paradigm.
Doesn't mean a thing.
1,300 ?? thats nothing, they employ about 8000+ in my town alone.
@@asajayunknown6290 yeah, 2030 year that laws go into effect banning gasoline vehicles....so why make them ?
Like many things going on today; including overbuilding. The Post Covid Hangover 😮
I continue to see restaurants closing left and right. People are not eating out much anymore. Being somewhat busy on the weekends doesn’t pay the bills for the rest of the week 😢 When the credit cards finally runout then the reality will sink in🤔
As a musician myself, I thought the same and also went to the Sam ash website. For a moment I was thinking like a little kid….heck yes. Thanks for all you do Michael, I watch you every day. Your reporting has always been spot on. In November I will be 75. Never in my life did I expect things to be this bad. As my dad would say when things were going bad, “it’s a mess, it’s a mess. Like your wife my dad was Portuguese from Brazil. When I had friends over they would ask why is your family always arguing, I’d say they’re Portuguese they always talk load. Anyway take care my friend, Jack (Joaquin)
I also thought, it looks too good to be true!😅
Thank for supporting his channel Jack!🙏
These Florida neighborhoods looked especially nice! Range Rovers and Tesla's outside every house. Gorgeous sun shining and endless blue skies.
I never received a penny STIMULUS all I know is people has kids while drawing child support at very same time. Not everyone lived off of or was spending Stimulus checks. 😊
Same here. I didn’t qualify to receive any “stimulus”, I only qualified to fund it.
@@KayFabe87 Me too????????????????
Everyone knows this already.
Sellers, we don't want your OVERPRICED homes
As a truck driver I worked 276 consecutive days before a day off during pandemic and since I was employed received no stimulus money.
Individuals only received a couple grand. It isn't still a factor four years later.
Exactly, those stimmy checks have been gone.
No company and U.S. govt is yolo spending
Small businesses got many many thousands in
stimulus money. My friend's garage door company got $70,000 in stimulus money and operated the whole time.
@@deanbeaudoin4324
Tom Brady got $1 million for his clothing line. I don't even think the company exists anymore. Like he really needed the money... right ??
@@georgedreher2322 Tom Brady is a total POS. He should be in prison for PPP loan fraud.
My roommate went to go apply for a job that's been advertised... And they're waiting on the building to get finished before they're even hiring they're just piling up applications.
I spent all our stimulus money on rent, utilities, groceries and toilet paper. 😂
Of course they are ! Money doesn’t grow on trees like Gavin Newsome thinks it does in California 🙄🙄
It's Gavin Newsom, no E at the end...
Yes it does as long as you have all those free lemon trees & different fruit trees growing wild on individual property. That probably why the Gov is in that mindset.😅😅😅😅😅😅😂😂.
In California money does grow on trees. And vines, fields of crops, etc. Largest ag sector in the country. Produced over $60 Billion, about 3% of the state's GDP. And that money is taxable.
@@JBoy340aUnfortunately you have a Governor and politicians who like to spend like drunken sailors
But oddly, it growsvat the printing press.
J Lo canceled her concert tour because ticket sales are bad.
She's not popular. That's why.
Her cat is worn and toen
And, she is getting ready to go thru a divorce.
If this happens to Tay Tay, then we'll know it's real bad.
Washed up 50 plus year old. Good
YOLO was first popularized Drake's song The Motto which came out around 2011 I believe.
I know because I was in Highschool and thought the abbreviation was very annoying.
It made a resurgence during the COVID era with the stock market being so active and people taking risks.
Expensive weddings are absurd too! With elopements you'll pick up a marriage license from the County Clerk and Recorder and you'll sign it on the day of your elopement and then have it filed after its completed.
I refuse to go to weddings anymore. I wasted so much money on others and then never saw them again. F-'em! I always sent a good check but rarely attended. In the future...no check, no attendance. Invite me to your divorce proceedings. That is the reality of most marriages.
As I said on another channel, companies are playing us like a violin. They squeeze for years, then when we fall over gasping for lack of money, they give all this promotion about how they are slashing prices to help us out. This push/pull/push/pull is so scammy. Scammy is not a word, my word checker says. But it should be. It's like taking everything a person has, then giving them back a dollar and expecting us to be so grateful for the pain to be lessened a tiny bit, we will fall to our knees and be so grateful for their big heart. Companies should tell it to all the people priced out of every day living who are living in their cars or in tents with their families. Corporations have one loyalty, and that is to their shareholders and investors. We are simply the fertilizer that makes the plant grow.
Amazon has 2 million employees.
Dude you don't have to buy that stuff! lol
@@francismarion6400I think you're misunderstanding his position. Corporate greed is indeed a huge problem in the US & has been a contributing factor in the out of control illegal immigration crisis we're experiencing now
@clairelivefreeordie2551 It sounds like a moderate Democrat talking point the way uou put it. What's really happened is the Socialist engineering that's been implored in our learning institutions since the 60's, has manifested itself in a familiar corporate/government partnership we haven't seen since 1940's Italy. These ivy league ceo's are more than happy to do their part even at the expense of their shareholders. Don't lump all us business owners into the same team though. Because that's what the USSR did to it's farmers and business owners.
*You are 100% correct*
I am so mad about job postings. Applied 100's jobs and nothing... dead!!! 😢
Keep your head up!👍
Chin up and keep applying. You’ll land something.
Are you willing to compete with Indians, chinese and filipinos on price?
Its because you are likely applying to remote work.
And so many incorrect job listings out there. It should be illegal to clutter up websites with incorrect job listings
The tree behind you at 22:00 is insane. How anyone is willing to leave that leaning over their house is completely beyond me. As an arborist, I'd bet that they will regret hanging onto it.
Many huge trees also along Norfolk Southern freight lines. I reported them several times and requested they either trim them, prune them, brace them or cut them down. They said they don't know if they have enough money in the budget. I said think about East Palestine. That catastrophe should have never happened. They put profits over people. They run these freight trains at top speeds, on rickety old rail lines from 100 years ago, and run them with now exponentially longer train cars, and much heavier cargo and carry combustibles and hazardous materials. I reported Norfolk Southern to the DOT. They are extremely negligent and many trees have fallen onto the tracks. They really don't care. I told them their trees that are a bunch of golden locust bean about 100' tall will fall either on the tracks or on my house. They are on Norfolk Southern property. They don't even hire arborists to evaluate the trees. They refused to even when I requested they send an arborist. I really despise that company. They pay their ceo's top dollar at the expense of public safety.
I agree with everything you’ve said Mike. Me , I’m just laying low for at least 2 years, spending less and paying down debt, but in the meantime, hopefully, stopping to smell the roses more often, and appreciate what I have. Honestly though when you talk about the economy I’m mostly happy about it all, because I know this depression that’s coming is in the end necessary for the future of my kids.
Hope everyone enjoyed their "free" money. Reality is coming to collect and it has zero F's to give.
What was the government supposed to do during a time of national emergency, let people starve? It was the right thing to do at the time, what people did with the money is on them.
@@BillySBCNo the right thing to do was not lockdown mom and pop gyms and barber shops.
We're Lovin' it...
How will we all emerge at the end of this? Under more control? Less free to disagree? Under gag orders? Broke? Jobless? 43% still say in polls that we are doing great
@@francismarion6400
Hundreds of millions of lives were saved in the USA because places were shut down
Educate yourself
I keep hearing about all this stimulus money. If I got $3000 total it was a lot. Covered 1 months rent. I don’t understand what money we are talking about that I never received.
My friend was collecting unemployment and he was getting like $600 or $700 a week. It was unreal. He rode it out for a year and a half. I think that’s what they really mean. Larger than normal unemployment checks
Some people got 3 of those and also had their rent on pause for 2 years.
@@mattcardarelliHere in Washington state, the $600 a week was in addition to their unemployment. Everyone we knew, younger people, did any work at all. They're all working now.
@@francismarion6400the rent was never really paused. Landlords couldn’t evict people for not paying as long as they were applying for the government bailouts for the renters that happened during that time. There was more money going out than just unemployment and stimulus. There was a whole bunch of subsidies. For example the former mayor of Baltimore bought a summer home in FL with the gov money she got for employees she employed but couldn’t have them work due to the shutdown. She was convicted of fraud and a whole host of other charges but many business people took that money allegedly for their employees but they pocketed it for themselves. Sad.
@@bencharlie9509 2 wrongs don't make a right for sure, but a moratorium was placed to prevent landlords from collecting rent.
I'm a retired Sr. VP of a major commercial real estate company (50 years). A good friend asked me to look at this video and tell him what I thought. I don't want to agree with you, but unfortunately you're right. The numbers don't lie.
Thank you so much for watching Robert!🙏❤️
This is Lisi, Mike’s wife.
I read your comment to him as he is now planning tomorrow’s video.😅
Pricing are being slashed because companies were gouging. Record profits for 3 years and they called it inflation
Interesting you say this because it make logical sense. If something is ‘on sale’ and we all know companies have a baseline of 100% profit margin on it, then maybe the sale price is all the thing is really worth in the first place.
@@bencharlie9509 company profits in nearly all sectors have been huge the last 3 years. Great if you’re heavy in the stock market but crappy for the everyday joe. They all jumped on the “inflation” excuse to bend us over and take every penny they could. You notice how grocery stores hardly had anything on special for 3 years but lately coupons and “sales” are back? During the same time period Kroger made historic profits and tried to buy Albertsons with all the extra cash on hand. Companies have been paying out dividends, bonuses to executives, and doing stock buybacks for 3 years all while pointing the finger at “inflation”. Evil gluttons.
One thing I haven't seen people talk about I would like to understand.
Furniture stores I walked into a furniture store, and a set of furniture is over $3,000 on the cheap end. They even had just basic recliners for over $1,000, and the salesman walked up to me and said today is the last day for Memorial Day sale and 0% interest for 3 years.
I had no idea people got furniture on a payment plan. I was just looking to replace my sofa and love seat in my RV. I was in complete stickershock.
So how will these furniture stores stay in business with those kinds of prices.
Yes this is how it is. The stuff is not worth that, but they price it to the point you have to finance everything. Stores. discovered that they make much more off of financing.
I think you will see some go out of business. People will be more wary of financing with increased interest rates.
All for particle board 💩
Shop at Ikea
I am looking for a sofa or loveseat for my apartment but after recently seeing these furniture prices, I'm thinking about settling for a cheap futon from Walmart but then again I'm Starting to appreciate the empty space more and more everyday. 😂
My observation is that young people are still spending on frivolous wants and going into debt; and seniors are spending on mostly necessities and accruing very little debt. I ordered takeout for the first time in 5 months & have only spent $50 on used clothing in the last year. I think in the next year, we will soon see who is financially smart
About the same for me. Sometimes a $20 treat once in awhile.
Wife of the year material!
Yeah that’s right! Screw the young’s! That’s how us olds will win!
@@JP-xq7fo How does living below your means screw over young people? I see little girls crying on TikTok about not having money but they have salon highlights and nails, with an $8 coffee in the cup holder. Those are wants, not needs.
I noticed a lot of young college women are spending on trips abroad, clothing and experiences even though those same women will complain about their student loans.
Senior coffee at McDonald's 70 cents. My morning stop.
Keurig at home is cheaper, Tom.
Maybe
Keurig is good, but there's a social aspect too if he sits at the liars table.😊
Corporate got 95 % of the stimulus. Don't paint a false picture.
Certain, favored machine corporations etc. Pure theft.
Quite Possible
Yea by default because everyone took the money and spent it like drunken sailors at corporate owned stuff lol
🙏👏👏👏👏👏👏👏
@SalahP.Secondz Not only default. Airlines and such were totally bailed out
You always talk about the stimulus checks people were given during the illness as "lots of feee money". A couple of thousand dollars isn't a lot of money. The PPP loans and massive FED wall street bailouts via a massive increase in the money supply in 2020 is what really knocked the economy out of whack.
Job market/numbers all Smoke and Mirrors. People are working 2/3 jobs just to get by. Thanks Michael and Happy Thursday!
It’s cheaper to buy a 2-3 bedroom than to rent in most places that aren’t over priced cities. Why is this lost upon people?
Starbucks is into greedflation. My drink went from $4.95 to $6.12 in 7 years. It is not worth it anymore.
My 25 cent can of pop went to 35 cents after Covid inflation. Can't buy it for 6 bucks a case on holiday sales. Now it's $8. At least it's still the same 12 ounce can it's been for decades.
It wasn’t worth it when it was $4.95 and now it’s not really worth it at all. You can make coffee at home. It’s not hard it’s water and some beans.
@@mattm1686 You are right but I became addicted to the chemicals used in the mix I bought. I didn't really get that until I became a real asshole when I didn't have one, per my husband. I would sweat and just be bloody uncomfortable.
I thought I just really "liked" them the same way people like drugs but I was just stupidly blind.
There are no actual jobs available; job postings are fake. I have been looking for work for over a year and have applied for many positions and only have been able to get a temporary position without benefits. No bueno!
They have a ridiculously low pay.
Temp jobs seems to be all that’s going on right now. Have recruiters emailing and messaging me all day about temp work. It’s ridiculous. Why should a person commit to a company when the company is not going to commit in return.
😮
They are not fake. Nobody is going to put out millions of fake jobs.
@@ellwoodwolfand no benefits
Yeah, they prevented a recession and we now have a Depression, if not outright total collapse, staring us in our face. And it, combined with the society we now have, not just in the US of A, but in the World, it is going to be very, very ugly.
@@geocam2hidden recession gdp is high because of immigration and inflation
Is so refreshing listening to smart comments common sense love it👍👍👍👍👍👍👍👍👍👍👍💃
People have absolutely, positively no idea of the horrors that are about to occur in this world. Talk about cognitive dissonance, those who are left will understand the term. Sad, but very true.
???
What horrors?
My mom is 102 years old and laughs at this.
@@blackworldtraveler3711 same age my mom would have been. They lived through hell and came back to tell about it. Good for her
@@blackworldtraveler3711 If 102 year old Mom laughed at, then you good. Don’t worry about it.
My grandmother taught me to add up what you spend each day on a piece of paper typically she would spend $1 to $2
Thats it i am cutting out my goodwill clothing spending.
Starting saving, buying shorts, and workout clothing there.
2 shirts are $12 better than nike store is $40.
There’s been a rate cut in Canada this week. The first one in four years. Hopefully, the US will have one too as we’re neighbours.
Why is that a good thing? It just causes price inflation.
A lot of people want to buy a home when they have a child for stability, you don't want your rent to go up in a few years or the landlord sell your house and have to move with a small child. Also, when you rent a home big enough for a family of 3 or more, most of the time you're paying more than you would for a mortgage anyway.
They talk about a recession. And if we're in one or not.and they never bring up a depression... I think whatever is worse than a depression is what we're headed for.. what will be quiet about that.. and we'll keep sugar coating everything... America's good for that
I’d like to share with your viewers, the wise and valuable advice my uncle gave to me while growing up: “Keep your life simple….buy only what you need….don’t take crap from anyone, but be respectful and you will live a happy life”…..Kinda reminds me of that old Kenny Rodger’s song: “The Gambler”….
No wife no kids
Buy less, but better. So it lasts longer. Also thrift stores and on line thrift stores have so many good options.- up cycle furniture and such also is a great option. There are options to be less wasteful and save money and they are creative too!
There are 2 types of inflation. One is pull inflation caused by people spending their money. The second is push inflation caused by higher costs coming from manufacturers, commodities and other sources of supply. Even if people lower the pull inflation by spending less, the push inflation will continue. You can stop buying bread completely and it will not necessarily bring down the cost per loaf resulting from the manufacturer who will not necessarily lower their prices.
18:24 Wait wait wait. Owning a house when you start a family is not just some social stereotype. Owning a house means you will be staying in one place for a prolonged period of time and you won’t uproot your children at a young age. Stability is important for children. Especially in their formative years.
Okay got that but kids don’t care about house ownership. That’s a myth the parents use as an excuse. Like he said in the video, kids love the excitement of moving.
but you don't have a right to it. Maybe don't have kids if you can't afford all the things you think they need.
Michael I love the fact that you don't let the bullshitters... bullshit you!!!... keep it real Michael be a realist!!!
Its amazing how this channel doesn't show up in most real estate searches on youtube.. The message is really being suppressed.
I also called it revenge spending because people were locked in from the Pandemic. When they finally could travel, they acted out and spent more then normal because of anger about not seeing families or having experiences for 2 years. They also acted out of fear because they never knew when the government would shut things down again. It's like being gilted by a lover multiple times
My company allowed the hybrid model until a few weeks ago and then they announced everyone is back to work for five days. That is difficult as I am currently taking care of my mom with dementia. Not sure what is going to happen. Love the content, thank you.
No wonder they're calling everyone back.
You were all doing something besides working.
🙏🏽🙏🏽🙏🏽🙏🏽🙏🏽🙏🏽 praying that all works out well. Fear not!
@@JustDItYtaking care of someone with dementia is work. Hard work. Shame on you for trying to shame someone for doing the honorable thing by their sick relative. May you never feel that pain in your life or much less be taken of by someone in your later years.
Shirley here, that's what makes me mad when a immigrant come over here, the get Ssi medical and food stamps. I know this for a fact.
Free housing and education too
@@annjames1837 I have a friend that told me this because some one in her family told her all the free stuff they are getting. It's just unbelievable.
this country is doomed
That is true.they told my mom to cheat the system
@@MistyMcCarthy-cf3kx As a American I feel the same way.
Really loving your walk and talks Michael. Huge respect and thanks from Australia.
I work as an RN in a Rehab, long term nursing home in Flint, Michigan. When it comes to the cost of healthcare, if you’re an illegal alien, you get free healthcare following your stroke. In the facility I work at, we have had, and currently have illegals receiving free healthcare. This healthcare includes free, food, bed, physical therapy, medications and skilled nursing care 24x7. However, if you are an American Citizen ,your bill can reach easily over $1000 per week ! The owner of the facility is more concerned with lining his pockets than blatantly encouraging, promoting and protecting illegals !
So sad! My husband has memory loss & prostate cancer but we when it gets worse, we won’t be able to afford long term care or putting him in any facility.