The New American Dream: Living Paycheck to Paycheck

In this video, we delve into the concerning signs of the U.S economy, mainly focusing on the difficulties faced by consumers. We discuss the rising auto loan defaults, the questionable trend of 'buy now, pay later' schemes like Amazon's Affirm and the challenging reality of living paycheck to paycheck for the majority of Americans. We also discuss the growth in gig economy workers, the shocking realization of six-figure earners also living paycheck to paycheck, and the increasing number of evictions. The video also takes a critical look at President Biden’s statement about war in the Middle East benefiting the economy, and finally the correlation between federal rate hikes, unemployment, and recessions.
00:00 Introduction
One of the things you hear on TV a lot is that signs of a good economy, a strong economy is when the consumer is strong....
00:00 Consumer Strength and the Economy
One of the things you hear on TV a lot is that signs of a good economy, a strong economy is when the consumer is strong....
00:23 The Shift from Layaway to Buy Now, Pay Later
Affirm which is basically buy now pay later when I was growing up They had a thing called layaway, but you couldn't get your the thing that you bought until you paid it So you would go to a store this is back when they had Toys R Us, which is now out of business I believe and you would go there and if the item was a hundred dollars you give them fifty dollars And then when you had the extra money, you'd give them the other 50 and then you'd get your item....
00:57 Living Paycheck to Paycheck: The New Normal?
And if the consumer is strong, why are we starting to hear that the main financial lifestyle for U. S. consumers is...
01:19 Observations on Housing and Evictions
On a side note, I thought that a lot of people were moving out of my complex and possibly buying houses....
01:56 The Distortion in Job Market Data
Okay, so you remember last week we talked about how there's a lot of distortion in the job market data, meaning a lot of people are working multiple jobs....
02:20 The Rise of Gig Economy
A lot of people are doing gig economies and they're very happy now to take a regular job, a job with benefits, at least benefits that they can pay into....
02:29 The Reality of Living Paycheck to Paycheck
And I did also an article on people making six figures who are living paycheck to paycheck, which is an insane reality....
02:50 The Trend of Multiple Job Holders
So then we go here, multiple job holders....
03:39 The Absurdity of War Economy
When you thought it couldn't get any more absurd, here's the kicker....
04:30 The Impact of Federal Rate Hikes on Unemployment and Recessions
This is the Federal Rate Hikes, Unemployment, and Recessions....
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[@ghettodaddy1438]

Gotta love these youtube fortune tellers who use fictional movie clips to emphasize a point

[@EncoreHumanCapital]

Thank you for your comment. The clips are not fictional they are actual movie clips.

[@ghettodaddy1438]

The movies are fiction, which make the clips fiction 🙄@@EncoreHumanCapital

[@EncoreHumanCapital]

No for real, those are real movies.

[@EncoreHumanCapital]

You can get off the couch, hop in your TransAm and go to the local blockbuster, and get a VHS for your trailer.

[@ghettodaddy1438]

You're the one who can't differentiate between fiction and nonfiction. But I guess that's all you can expect from some bozo who touts their business as a national recruiting firm with only one employee. Your entire business model, along with this channel, is a complete joke@@EncoreHumanCapital

[@adrianowallin]

Can’t watch this dude lol too many crappy clips

[@EncoreHumanCapital]

Thanks! Did you play Simple Jack in Tropic Thunder?

[@adrianowallin]

“But I think you’ve got a fine brain Jack” …. See I’m good!