We’ve Been IN A RECESSION FOR 5 YEARS!
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- čas přidán 11. 07. 2024
- When you look at the most recent GDP figures and subtract inflation, we actually have negative growth in today's economy. Using this method, it's suggests that we may have been in recession for the past few years and not even have realized it. All the artificial government stimulus has made things look better than they really are for a long time until now.
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People ARE IN SERIOUS TROUBLE! STILL PAYING OFF LAST YEARS DEBT! czcams.com/video/FrLeXp4q3TU/video.html
we never recovered from 2008 actually
mendocino... 60F
@@VenturaITNice!☺️👌🏻
just curious do you make multiple videos in 1 day and change your shirt, to make it look like you walk every day? lol caught!
depression getting deeper
During recessions, assets often undervalue. By investing wisely in stocks, real estate, or businesses during this downturn, you position yourself for significant returns during the economic recovery.
An obvious way to invest for a recession is to buy shares in businesses that are likely to experience steady demand even in a downturn. Typically, those are consumers staple, utilities and healthcare companies. But of course, such decisions can’t be made by an average joe, a financial advisor is highly recommended in making this decisions..
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k in 2023 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.
How can I reach this advisers of yours? because I'm seeking for a more effective investment approach on my savings?
'Sharon Ann Meny' 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
Thank you for the recommendation. I'll send her an email, and I hope I'm able to reach her.
Recessions are an unavoidable part of the economic cycle; all you can do is prepare for them and plan accordingly. I graduated into a slump (2009). My first job after graduating from college was as an aerial acrobat on cruise ships. Today, I work as a VP for a global corporation, own three rental properties, invest in stocks and businesses, run my own company, and have increased my net worth by $500k in the last four years.
It's a delicate season now, so you can do little or nothing on your own.
Hence I will suggest you get yourself a professional that can provide you with entry and exit points on the securities you focus on.
I've been in touch with a financial advisor ever since I started my business. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.
incredible, a fantastic start to financial independence! How can I contact your FA.
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’ Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
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.
The system died in 2008. We have been on life support ever since.
are you sure? we may have been on life support since we ended the gold standard
"We have to violate the free market to save the free market" G.W. Bush
@o_oo_o1812 u right.they take out gold then silver
Nixon: "I have instructed Secretary Connally to temporarily halt the conversion of the dollar into gold or other reserve assets, except under conditions deemed necessary for monetary stability and the best interests of the United States."
This decision marked the end of the United States 1971. Following this, the 1973-1974 period saw what was considered the worst stock market crash since the Great Depression. Subsequently, Black Monday in 1987 highlighted ongoing economic fragility that put the economy on life support ever since. The charades are about to end.
@@o_oo_o1812 Arguably since the creation of the Federal Reserve.
I suggest you offset your real estate and get into stocks, A recession as bad it can be, provides good buying opportunities in the markets if you’re careful and it can also create volatility giving great short time buy and sell opportunities too. This is not financial advise but get buying, cash isn’t king at all in this time!
One strategy for protecting against a recession is to buy equities. Investors, especially during a recession, need to know where and how to put money in order to make money while avoiding inflation.
It has never been easier to understand how to build your money than it is right now, when you may study and experience a completely variegated market passively by employing a successful portfolio-advisor. The impacts of the U.S. dollar's gain or fall on investtments, in my opinion, are complex.
Working with a Financial Advisor to help guide you on your wealth-building journey if you're just starting out is a wonderful way to get started and thats how i was able to accrued good gains . They helps to manage investment overall risk profile , prevent permanent loss of capital consider maintaining a broad diversification of your investments that reflects your personal risk tolerance, time horizon, and the nature of your financial goal
please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.
I like to keep a 'in case the market crashes' fund to try and take advantage of the low prices. When the market goes south, I use that money to spread out over the following months buying my target stocks on low days. That's aside my usual DCA, they keep dropping and I keep buying. I'm still in on Renewable Energy, EV, Tech, Health, coins too, gotta be greedy when others are fearful. At this point I'm grateful for my FA. Already with a 7 figure portfolio but I have no doubt investing more.
Same. I operate under the premise that the market can and will crash at some point. Many individuals miss out on gains by not being in the market and instead waiting for a crash. Perhaps it's wise to do both partially.
He's Graham David Fullerton by name. Please do your own research to see if he is suitable with your goals.
If your neighbor is out of work it's a recession. If you're out of work it's a depression!
Its a depression, I can't get a job, 30 applications in and not a single call back or email, back in 2018 I did almost the same thing and had 5 people call be in 2 days
When Biden is unemployed it’s a recovery.
@@FortniteOG420 the only thing keeping me alive is 3 youtube channels. My normal business that makes good money is down 90%. I was even busy in 2008 and 09. making mid six figures.
if you're suffering from depression try pilates
@@TravelTechie415prayto the lord will bebetter
The business I am at has been in business over 50 years. Our sales are down over 25%. Our cost have gone up over 25%. There's a math problem with a bad answer.
You have to add additional streams of income to make up the difference. If you share (or DM) what kind of business I may have some suggestions for you. (As a favor -- not trying to sell you anything.)
Yet broadly, corporations are reporting record profits. Perhaps the problem is not with the math but with your business?
I told you a ski shop would never work in Florida
@@ihave35cents95Water skiing.
@@phillypharmaboy3794 No. You are clueless of costs it seems. REMEMBER "DRILL BABY DRILL" . That means producing cheap oil and gas in USA. That only would bring inflation and prices down. Vote Trump or go broke.
Inflation hits people a lot harder than a crashing stock or housing market as it directly affects people's cost of living that people immediately feel the impact of. It's not surprising negative market sentiment is so high now. We really need help to survive in this Economy.
I think I could really use more guidance to navigate the market, it is completely overwhelming, I've liquidated most of my assets and I could really use some advice on what best to invest into.
Your best option if you are unfamiliar with the markets is to seek advice or help from a consultant or investing coach. I know it sounds simple or generic, but talking to a consultant helped me stay afloat in the market and increase my portfolio to roughly 65% since January. For me, it's the best method to enter the market right now.
This sounds very incredible. Could you recommend who you work with please
Amber Michelle Smith has always been on the top of my list..She is regarded as a genius in her area and well knowledgeable about financial markets. I highly recommend you look her up if you want excellent collaboration.
Thank you for sharing, I must say she appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled
Once the government/Feds redefined what the criteria was for a recession, I knew then that we were already in a recession.
Same go's for the FED'S description of unemployment
Spot On!
They changed the definition back in the 1940’s. So you are saying we have been in a recession since then?
@@ronaldellis3229unemployed is anyone without a job and spend 1 hour out of 4 weeks looking for one.
@@josefj1776they changed it again, in early 2021. Try to keep up.
The things people have to pay each month: car insurance, property insurance, property taxes, groceries, utilities, etc., continue to go up higher than wages. 3 percent my @ss
and makeing money cheaper (lowering interest rates) will produce another round of inflating the dollar supply.....
more dollars means each dollar is worth less result; Every Product or Service will cost MORE
Plus food, cable, Wiifii, car payments, rent or mortgage, & medical insurance
Absolutely 💯!!
Normally I don't complain, because I know it doesn't do any good.
Last year our Power went up in Rates two times last year ( Spring / Winter ) $$$$ , here comes Insurance , they kept raising the rate on it , every month for 4 months . *Everything goes up in Price $$$$$* ! *Except for your Wages$*
@@colinchampollion4420 Many are cutting back. For example, eliminate cable and use the internet. Lots of movies, TV shows, documentaries on CZcams.
Bruh you been killing it. As sad as it is... Its not your fault. Keep telling the unbridled truth. This channel isn't uplifting but is necessary.
Yes and let people think out of the box
Keeping people's fear level up is vary profitable.
We were told this was "Transitory" well... We transitioned right down a cliff! 😬
The same crew who helped create, release and market Covid
I never believe anything our government tells us so as not be disappointed when it's wrong.
@@shanerogers9386 Yo you can't just assume these terrible evil people are out doing terrible things to us. You have to sit and wait for them to confess and it all to be proved in court and declared in congress. Now let me just consult some corporate media to rate your conspiracy theory...
😂😂😂😂😂😂😂 be nice
you have to say it this way
TrAnSiToRy
At least we finally beat Medicare!
Because of Vice President Trump
Who by the way is a “she”. 🤣🤣🤣
Lol
We've been in a depression since 2008.
So true, it's been nothing but lies from the federal reserve
Yeh, strip out government deficit spending imagine what the GDP would have looked like since 2008.
We have been in either depression or delusion since Obama took over this country.
Crises of capitalism are unsolvable. They are just powdered by capitalists and cumulate until they explode in the form of war.
2008 really did feel like a depression in my florida city. Things started looking brighter after 2016. which is why I supported trump since.
So glad you're an honest CZcamsr,,,real folks appreciate that !!!
NO ITS FINE.....My business is ONLY down 90%........Just fine!!!
Your competitors beat you.
Poorly run businesses fail all the time.
Guess you better find a product people want. The economy changed during the pardemic.
8-track tapes are just no longer marketable.
I’ve lived through 3 recessions in my adult life and we’re definitely in one now. It just feels like a recession.
Never had my business down 90% like now....Plus I live in CA where Newsense has wrecked everything.
Indeed
@@mikesrandomvideos That sounds more like a depression than a recession, doesn't it? You'll need to add more streams of income. If you want to share or DM what kind of business I may have some suggestions for you. I'm not selling anything - that's just an interest of mine so I've been researching ideas.
Yeah. I've seen this with my side business. Something really broke around fall of last year.
Specifically last October📉 including the present one we're in been alive through 5 others as well Nixon 72,Carter 79,Reagan 82,Clinton~Bush1 99Dot com bust,Bush2~Barack Obama 2007 Great Recession📉Since last October to the present Biden Recession.
07 all over again. They kept saying everything is great meanwhile the people in the know were selling all their stocks. This one is going to be worse.
I feel 2008 was bad , but NOW it's bad for 99% of all Middle and Low Class Workers.
It's effecting everyone , one way or another !!
I bailed on stocks, paid off everything. Anything digital is a scam for suckers. Stock up on essentials and take classes like auto repair, HVAC, plumbing, electrician, whatever you can to make yourself useful. Make sure you exercise and stay slim. Learn self defense skills including firearms. Make plans like what to do if power goes out, water. Get a first aid kit and a crank powered radio so you don’t need batteries. People who are the most prepared are the least afraid.
@@jefferywylie4456 I have been in the sewer biz over 28years. I'm not too worried, as a matter a fact, the worse things got the more hours I worked.
Heck I was fine and stayed 50% invested back then. I was debt free and paid off my home in 2008. Cash was king. Was taking more time off work for travel. I even bought two rentals and beach condo heavily discounted with cash after housing crash in 2008-2009.
Wasn’t giving up on solid stocks paying and increasing reinvesting dividends. Even Warren Buffett said when things go bad people still buy toilet paper. Most still had to pay for gas and other petroleum products,utilities,cell phone,internet,food,medical,credit card debt,stupid stuff,etc..
Even Starbucks was packed back then regardless.
Invested even more in 2010.
My 401k alone tripled to 1.5 million from 2012 -2019.
Average price of Gas is up 30% from 2019 Average Rent is up 25% from 2019.
A gallon of milk is up 30% from 2019.
The price of anything, from any year can be accessed via an internet search engine. Someone please let the government know this.
And some places really bad. In my Florida city, nearly everything has *doubled* in price. Ironically, gas is probably the cheapest with only 50% increase since 2019.
Too many people moved here. Census indicate 100k people moved in my city from many different States. Traffic is a nightmare. insurance cost more than a new Car -_-
Joe doesn’t care, he’s busy sniffing.
BIDENOMICS!!!
It’s not bad where I live in Oklahoma. Can still rent a nice one bedroom for less than $600/mo. or a luxury 2bed/2bath/1car apartment with washer/dryer,island kitchen,etc. starting around $1400/mo.. Houses and condos are reasonable for people that buy what they can truly afford. Newly built homes start around $200k
Even gas is around $2.85/gal. currently.
My homes paid off 16 years ago and have zero debt.
Retired in my 40s. Investments doing well. Can’t complain. Always lived within means and learned from the past.
Plan to travel more.
@@blackworldtraveler3711well done bud
I like how people think that when inflation hits a 2-3% target that prices are coming down. They are going up and not coming down. The only thing that will make prices come down is deflation. The Fed and gov't will try to stop deflation at all costs as it does not fit the inflate the debt away model of deficit spending.
Astute observation.
BINGO!
Deflation would crater investments. Is that what you want?
@@MrSteeDoo From my understanding, a healthy stock market often needs corrections from time to time.
This idea that EVERYTHING needs to go up in a straight line at all costs is absolutely crazy talk.
@@MrSteeDoo Yes, I want to buy on the cheap. Market is overvalued and PE's are out of control.
You are so timely as usual. Just an hour ago the news was reporting how well things are. Trying to convince people to spend more money.
Yesterday the company I am with laid off many people. As usual I was lucky and didn't get hit. But for how long? I don't know. I'm debt free and have a paid off duplex I rent out but I'm sure there are many worse off. Sad day yesterday for many :-(
Exactly, they believe if they say it's ok, we will believe them and start purchasing more.
Our economy has been on life support since 2008!
not picking sides, but the facts matter, whenever there's a baby boomer in office .. the nation's debt rises dramatically. It was Obama who fixed things in 08
Exactly
Yep. It never fully recovered
God help us when this plays out. How long were interest rates zero? The zero interest rate policy (ZIRP) lasted from roughly 2008 to 2021. The Fed lowered the federal funds rate to near-zero levels in December 2008, and again in March 2020 in response to the coronavirus pandemic. The Fed began raising interest rates in March 2022 in response to rising inflation.
@@bcampbell1826 ok?
Given the current economic difficulties that the country is experiencing, how can we enhance our earnings during this period of adjustment? I cannot let my $680k savings vanish after putting in so much effort to accumulate them.
Well the bigger the risk, the bigger the reward and such impeccable decisions are better guided by professionals
Yes true, I have been in touch with a brokerage Advisor. With an initial starting reserve of $80k, my advisor chooses the entry and exit commands for my portfolio, which has grown to approximately $550k.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
Amber Kay Wright is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
You should talk to your financial advisor instead of asking rando's on the internet.
I am on SSDI (due to cancer) and just had to apply for EBT card to afford groceries. My monthly check is 1450.00. House note 1050.00 (with ins & tax increase escrow), power 225.00, cell 32.00 and water 120.00. When I applied 2 months ago, the person at Medicaid for my EBT app says "you pay more than you have incoming!". HELLO! That's why I need food assistance! Still, the GOVT doesn't get it. People like me cannot make it with these high prices. It was finally approved, and I get a little help through EBT but I do use local food pantry locations. If you could see the amount of people at the food pantries, it would blow your mind! A lot of people are really struggling.
$120 a month for water? Do you live in the desert?
Don't worry. Just go to Mexico and cross the border into the US. You'll get a luxury hotel, free food, free clothing, and the right to vote!
@@FreedomTalkMedia Depends. Some jurisdictions put garbage services on the water bill.
Passed a Church that has a Pantry a really long Line of cars many higher End ,many of these People aren't doing that Bad just taking advantage of the Freebies .
@@FreedomTalkMedia Our water, sewer and garbage are all rolled into one monthly bill.
You make AN EXCELLENT POINT: GDP numbers are NOT adjusted for inflation.
The "adjusted" GDP numbers tell the "real" economic growth story.
I NEVER REALIZED THAT before.
THAT INSIGHT is WORTH GOLD!
Ken, Toronto, CANADA
Don't worry, they'll start adjusting it if Trump gets in office. 😂
No, he's just ignorant. The reported gdp growth is real gdp growth, meaning it considers inflation.
@@morriganfey6079 its already adjusted
@@therighteous802 WHAT IS YOUR "SOURCE" foe saying this? NOT CITING YOUR SOURCE
DOES NOT MAKE YOUR COMPLEMENT "credible". :D
FOR UNIVERSITY STUDENTS TO SAY WHAT THEY WANT TO SAY they have to support it
by CREDIBLE SOURCES that are "still" current.
Ken, Toronto, CANADA
Yes we are , especially since the beginning of the year , I've seen numerous stores & restaurants closing in the last 2 years & accelerating , have also seen a explosion of " new " homeless, these new homeless are not drug users or mentally ill , the people losing their homes & apartments are not able to afford rising rents & foreclosures, we have a real problem now because we have no leadership & wall street is only out for itself .....
anecdotal
1. Demand for goods is still high.
2. Economic activity is on the verge, but ppl are living on credit.
3. Unemployment is high, but everyone is lying. We just know it can't be good.
4. Prices are still going up.
5. Investing is still very high but by only the few super rich or 401ks.
6. Credit hasn't contracted, at least not aware of people being denied.
7. Sentiment depends on who you ask. The majority would agree, it's bad.
Great alalysis actually.
I agree about moving to Russia.
In Liberal states with high crime n homelessness demand for caseworkers, social workers n housing specialists are and stay high 😂. I live in Westchester but work in NYC I've never been without a job. Even got labeled as essential worker during covid. I couldn't get fired 😂
@@JB-tz8fu Yeah, but the rents for a storefront are reaching 20 grand. Inflation is creeping up. Not even a franchise is a good investment with a rent that high. Government workers aren't going to have anywhere to spend their paychecks at some point. That, or you're going to be paying $14 for a roll and $15 for a hero and $4 for a 20 oz bottle.
I don't know ANY unemployed people.
Food prices are out of control. My lease renewal went up $100. I can't retire and I'm at the age I should. I will be working till the day I die
Hopefully soon.😊
@@pensacola321that's a pretty gross thing to say
@@pensacola321 That's evil. What's wrong with you?
Same. Single woman working since I was 17. I will never be able to retire.
@@randomhiphop5055 🤣
Food going up
Gas going up
Rent going up
Insurance going up
Electricity and water going up
Trash service going up
Business are down
State fee going up
Are we on the way to depression? 🥵
Yes 2025
We're there.
Add in poor or non-existent customer service which is the icing on the rotten cake.
No. How can it be a depression if everything is going up? It's an ,,Apreciation "🎉
Yep. It can’t keep going this way !
From $10K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
Working class people have known this for years. We just kept being gaslight and told everything is fine! If you’re not successful it’s your fault.
….oh and how nice of the
FED to stop wages from rising! They stopped people from being paid more. While the COL went crazy!
They got to keep wages stagnant and people can’t afford anything, so businesses are closing 😂.
Great job guys!
“If you want to be able to *AFFORD TO LIVE* learn a skill”
Only problem is if everyone does, it will bring the value of that trade down and it will be full of reluctance instead of people who actually love what they do and everyone will be back to where they started.
Everyone just has to admit that the worship of money doesn't work.
Blessed be Elijah the prophet who has come to set matters straight.
Blessed be Moses who has given us the Commandments and regulations of our Creator, Jehovah (YHWH).
One leader, Christ Jesus.
Who has been given all authority on Earth and in Heaven.
Or maybe are luck has just run out.
I just heard,
Stop and Shop supermarkets are planning to close 32 stores in New England.
These stores provided part time jobs for many on social security.
They also had a bank branch, Citizens and a pharmacy inside.
More vacant commercial property or will the big box stores take their place?
Many of New England's farmers relied on these stores to sell their produce.
Just picked and locally grown.
Store closings have a lot of hidden effects that we do not think about.
This channel has a very high density of authentic, accurate analysis, the truth-to-syllable ratio is off the charts. Grateful for the lack of BS.
DEPRESSION
Prozac
Hyperinflation affected the German Papiermark, the currency of the Weimar Republic, between 1921 and 1923, primarily in 1923.
The same cartel is in control of banking in ɥɐʞᴉɹǝɯ∀ today as was in control of banking in the Weimar Republic pre WWII
Yep laid 5 months ago; I gave up on depending on getting hired and got my insurance license; going to carve my own path helping people and building my business!
Helping people lol yeah ok bro.
Congratulations on getting your license!
If you havent been laid in 5 months you should go to the bars and wait til close. Chicks dont get all dolled up for nothing.
What type of insurance?
We are definitely in a recession. At least 3 years ongoing.
a pandemic lockdown is by definition a depression >.>. you should really know the meanings of the words you’re using
Imagine the lies we've been told in our lives. With AI it can only get worst.
*worse
If we do it right, A.I. can take the corrupt human element out of certain things.
@@billstrasburg384 we NEVER do anything right thanks to greed and self interest
We didn't fix the 08 crash, we wallpapered it over with monopoly money, bailouts and 0% interest rates (until recently). 08 caught up to us.
And banks are still giving loans for homes that are more than %50 of their income. I’m seeing it now for myself
I was fine in 2008.
I’m fine now and also retired(FIRE)
@@blackworldtraveler3711 Not everyone works for the government with a highly protected job. This isn't a slight, we need a fire department for sure.. but private sector jobs have way more sensitivity to the economy.
@@jonathantaylor6926
I know nothing about federal jobs other than they pay a lot less.
Always avoided them.
Well said @lonovavir
I've made more money then I ever made before and it still feels like I'm struggling. I'm sick and tired of working hard just to be alive and nothing more. Sick
Hang in there !
Same. This year I make 3 times as much money as pre COVID. Yet, I feel like it would be difficult for me to upgrade from my little condo to a nice house.
We have been in a RECESSION since 2008 that was Articially Surpressed by Federal Reserve Debt Monetization. Now we have reached thhe Ultimately Credit Limit because each additional dollar of Government Debt produces ZERO or Negative Dollars of addition GDP.
DOUG W.
Asbury Park NJ
Nonsense. Govt expenditures have the same effect on the economy as personal expenditures.
@MrSteeDoo no they dont....because they are financed and sap capital from the private sector debt markets
@@RadicallyFRUGAL So you think the problem is that there is shortage of investment dollars? LOL
@MrSteeDoo Government Debt Demand is sucking up all the productive capital on the planet. Global GDP Growth is 5% on $110 Trillion. That is $6 Trillion....US DEFICIT is climbing to $2 Trillion this year. Congression Budget Office increased from 1.5 Trillion in February. Do the F@cking Math
First of all, Doug, it's never a good idea to write your real name in the CZcams comments. Second, there is no "credit limit" for the US government. They can print as much money as they want to and the people will just have to absorb the debt and costs.
I’m in Utah. The Californians are now flooding this state. Just like they did in Az, Fl, Tx, etc. The roads are crowded, can’t go to lakes and trails without there being no parking available. People still spending money like crazy.. I just don’t friggin get it
Californians cashed out their high valued homes and are living large, while they still can.
@@truthseeker1959 yes they did cash out, which explained the housing values jumping up for a period. But everyone is spending money they don’t have, it’s insane
I make over 100k and can't afford a house. The situation is screwed
were way beyond 3% inflation.. Look at grocery prices... Depending where you are; groceries are double...
Not double where they were last year. They had already doubled by last year.
They are double from last year?….. no they are not.
@@josefj1776 my grocery bill has doubled for the same items than It did 3 years ago. I live in California.
@@1isaacgardner cool mine have not.
@@josefj1776 where are you from?
My business is down bad worse than that ever will be done soon will have to retire it’s bad might as well get my ssi before it’s gone.
Would it make sense to pivot to being a mobile mechanic? Make sure you have your Google Maps (Google Business Profile) claimed and optimized. Check it often as I've seen people go in and change the information to steal your business. Look at it and verify the phone, address, name, etc. is correct. See if there are other categories you could add. Can you add additional information to your description field. (You only have so many letters, but the more individual things you do the more you'll get found.)
I heard 3033 it might won't be in there
Depression Symptoms started in 2007-2008.
I've seen pictures from the Great Depression and there are more homeless in Chicago than during those awful times. There is more crime too.
You need to do research before you make stupid comments😂 there was a huge homeless population during the depression years huge like 20 times the amount we have today.
Another person that learned history from TV that is a sad time we live in.
@@josefj1776 I can’t even believe he said that we had 2 million homeless during the depression that’s a hell of a lot seeing how the population was less than half of what it is now 25% unemployment rate He must have watched one of those Robert Burns documentaries where he sugarcoats it.
@@ihave35cents95 There were 2million homeless during the depression. Look it up.
I agree. We Klarna’d, AfterPay’d, Affirm’d until we couldn’t anymore. All of these payment plan options + access to credit kept people spending well beyond their means and delayed the shoe from dropping. Now we’re here.
I felt like we were in a recession every sense 2019. Many of my friends moved out of California Nurse’s, paralegals, and other medical background’s. No one wanted to listen to me regarding the false sense of security being reported. I bet they believe me now. I’m blessed because I seen the tell tell signs and I prepared for the impact. I keep telling family and friends to watch their retirement portfolios closely.
YES!
They don’t believe. They’ll take their voting habits with them wherever they go. Just look at AZ. Went from a solid red to blue in last election..
Saw, not seen.
What did you do to prepare?
I'm usually out early on my days off, driving around grocery shopping or whatever. In the last few months, I have seen a LOT more people riding bikes or walking... in their work clothes. It's very noticeable and was not normal before these last couple months.
Poor things probably can’t afford their cars or had them repoed!
Our economy has been slowly collapsing longer than I have been alive
Yes, true. That’s how the fed/central banks work. Great at first, then slowly, methodically grind you down into nothing. Because it’s slow destruction people don’t realize what’s being done to them until it’s too late.
The Great depression was a snowball going downhill but it wasn't until the stock market crashed that everybody realized what was going on. We are in the beginnings of the depression. Eventually the stock market's going to crash.
Sell all NOW!!!!!
I own a Crash Cymbal
That is why the middle class is dead. If the goverment would stop "Violating the free market, to save the free market" and let things fail and come back organically we would not be this far down the road to surfdom. The market needs to be corrected finally so the average person will still be able to work for a living. This is class warfare on lower, working and "middle class". The middle class is now the upper class. Working class used to be middle class. You can't survive without multiple passive income streams. What a travesty. The elites and marketeers need to take a hit instead of making the working family pay 30 percent more for everything to keep the market propped up. and 30 percent is being generous. To you comment, it all depends on how you define "everybody" Everybody knows..... its just is not hitting them like "everybody else" A recession is when your neighbor looses their job, a depression is when you loose your job, a correction is when a rising tide lifts all boats, not just the ones that are thrown a life preserver.
And think how fast people can pull out their iPhone and panic sell.
@@jonathantaylor6926 so true with stocks and crypto. Not so fast with real estate.
👍 I call it the Great Fleecing of America
NBC needs to bring back their " Fleecing of America" segment on the news.
Like DUH. Of course we've been in Recession for a very long time. It's a Depression now.
ALL the Numbers are fake.
I'm 76 and alone - and have only Social Security.
@@suzannederringer1607 Research what a depression looks like. This isn’t it.
@@pojack9979 Wait. It'll get worse. Also - economic pjenomena are not always the same. This isn't like the 1930s Depression and that wasn't like earlier US Depressions.
@@suzannederringer1607 You must not have been an adult paying your own bills through 2008-2012. This is bad, but that was much worse. And that was a recession. Not a depression.
@@pojack9979 They just hide the obvious effects. Instead of soup and bread lines, they have people going to food banks and getting food stamps.
HAVE FAITH 🎉 😊
Great video Michael. Recession is not ending anytime soon either. Is about building wealth. Wealth is the money that you don’t spend. The more you know about finance, the better your chances of building wealth. Achieving a rich life with a good work-life balance often comes at the cost of financial independence due to lower pay. These are tough choices to make. Remember, investing can give you a jumpstart toward financial freedom.
Varied sources of income is wise and especially living within your means. My net worth is $1M and I can pay my bills with no stress, but I don't live like I have that. I have no complaints.
Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch if you don't mind
Find financial advisors like Becky Lou Gordon 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.
Thank you for sharing, I must say, Becky appears to be quite knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled
It’s neither a depression or recession. We are in a Bizarro world
Agreed... twilight zone.. hell realm? Certainly ain't heaven..
It's a session
We've been in a recession since April 2023 when the company I work for gave everyone a 0.75% annual raise when inflation was supposedly running 9% (govt changed definition to make it seem like it was 9%) but was actually much worse.
It sounds like you are an unproductive worker.
Change jobs and get a raise.
@@josefj1776 Not likely here. The area is depressed and there are few good technical jos. Having said that the cost of living is low and the schools are great because it's white.
@@MrSteeDoo Maybe if you learned to read you would understand that the whole company got a 0.75% raise.
This is a depression I'm glad to see that you're agreeing that we've been in a recession for over 5 years
it's all on purpose if you want to bring the new system
WEF
Didn’t our beloved current administration officially change the definition of a recession? Or a depression? Either way, they changed it. 10 1520 years ago we would absolutely be in a recession if not a depression. Now they say we’re not. Yes, there’s always a certain population in our society that will never feel it no matter how bad everything gets. But for a majority of people, I think they are definitely feeling it. Doesn’t matter what our stupid government says.
Well, it’s definitely not a depression. We’ve had a 1.5% homeless rate during the depression. We’re nowhere near that.
Yes, they did absolutely change the definition. It was about two years ago.
No Biden didn’t change the definition of a recession. It was last changed in the 1940’s. You should learn about it it is available in multiple sources even the encyclopedia 40 years ago have it.
recessions have always been defined by the NBER's call. They haven't called one yet
I agree with you. During the so-called pandemic people were getting extra food stamp benefits (in some states individuals were getting an extra $225 per month) so the prices of food items wasn't really apparent until those benefits ended in the fall of 2023 in most states. Also, during the so-called pandemic people were getting stimulus checksn so home and car insurance increases didn't seem like such a shock. But now in 2024 with no extra benefits it definitely feels like a recession.
As Sarah Palin famously said, This economy is like putting lipstick on a pig. 😂
I have a construction corporation in San Francisco and I can tell you the recession started about 24 months ago for my company
We have been in recession since September 11, 2001 we have to stop lying to ourselves! What we are seeing now is Depression symptoms!
Make that 1971 when the gold standard drained down to the toilet.
We are seeing the exponential problems of that right now, but the real problem started before that with fiat money and debts. A lot of people were able to windowdress by starting to work with two. Now that is even not enough and that is when the real big problems start showing.
lol a pandemic lockdown is by definition a depression. i have no idea how you guys are confused.
No, no, we haven’t.
Walk down any Main Street and count the number of boarded up mom and pop store fronts.
I see nothing but new buildings going up.
@@MrSteeDoo but they’re empty.
@@nellyjohnson7316 No they are full of construction workers. LOL
@@MrSteeDoo who are creating empty buildings.
Because no one does business like we did 100 years ago. They move to better locations.
The store I manage is down 14% in traffic. Other stores in the district are down over 20% to LY. People only coming in to buy clearance or bogo sales.
We will never be out of the woods until the government has a balanced budget and makes payments on the debt.
?
I always love to start the weekend with a Video from Michael! 😊
Eat dinner and listen to MB
👏🙏💕
@@ericscottstevens😊❤🙏😋
I honestly look around and wonder how anyone is making it
I am making it because I show up for work everyday and do good work.
That's true. There is very little real growth in the GDP; it's all inflation from printing and gov spending.
And consumer spending
@@user-lf2lf6wy4z More like growing government spending and government jobs. Consumers are spending more for less and paying more in taxes due to inflation. When inflation goes up, people spend more for less. I don't know anyone that is a "consumer" anymore. Buy what you need, if your lucky enough to afford it that's it. Work, church and home. What a life. Consumer..... that's so 2000's LOL.
Here in CA, our PGE bill this month for a one bedroom apt is $900 ( but only $627 with “credits” given 💀
Looks like you are back to walking like your pops. Must be feeling better ❤
Who’s his dad?
Feeling pretty good now!
If you want uplifting, go watch an cute cat or dog video, but make sure you don’t click on the thousands of cats & dogs being abandoned on roads because shelters are full and we ARE in a Recession.
People have been dumping their dogs and cats out here in the country. 😡
We have 6 stray dogs and 2 cats. All strays.
@@cjhoward409you are so kind
@@cjhoward409
Truly heartbreaking.
Your point regarding double-digit inflation based on criteria previously calculated as inflation is exactly the reason why they reconfigured the original calcutions. They may be all crooks, but they're not stupid.
Your videos are so well thought out and evolving with the times we are in. I enjoy the truth telling - a rare thing
Ive watched my home's "estimated value" go up over the past 5 years, from 108k to 160k. The entire time ive been telling my wife it is fake, its a bubble. And this entire time my mortgage company has been trying to get me to cash out the equity. I refied in 2020 to 2.35%, and if i cashed out the equity my rate goes to 7%, then the market tanks and im stuck with 3×s the interest on owing way more on a home than its worth, and stuck in a state that i really dont want to spend the rest of my life in. Instead i am going to triple my mortgage payment, have it paid off in less than 4 years, then sell the house and get out of IL.
And the added bonus to your house being worth more money is higher property, taxes! How lucky we are!
Right, higher property taxes and insurance premiums. But i can almost bet those will not go back down the same when the "bubble" bursts and home values bottom out.
@@ytrefugee113You got that right, brotha! Not without a fight.
Makes me so angry that the government keeps lying and saying this is a great economy and jobs are plentiful. So fed up with the lies and BS and worst when during the debate, trump said this economy sucks and Biden said no this economy is great… like wow he really does believe that ehh
Michael is saying the recession has been around even during trump's administration. LOL
If Trump is elected, he’ll start saying the economy is great. Just wait.
You're a star, keep shining bright!
Virus warning
Fed just doesn't want to pay out the SSA COLA
When the FED set up the special purpose vehicle and bailed out the corporations and the people, at the start of the virus, all that came after has been recession.
Since the pandemic, we've been in a fairy tail.
More like Twilight Zone
5 years? NO! Since the contrived rebound from the 2008 collapse, we have been in NOTHING OTHER than an economic house of cards.
...and the house is about to fall.
It's going down now, and we are all here to see it!
Good luck!
Always glad to see your videos of the Bay! I’m in San Bruno!
I'M DEPRESSED FROM THIS DEPRESSION.
Having discovered this channel maybe some months ago now, this guy definitely well earned the subscribe
I remember growing up on the 70s and 80s, a neighbor who had everything. His kids had the latest toys, he built deck after deck off the back of his home. Home theater….unheard of back then.
One day, their home was foreclosed on and they had to move in with grandma. Nobody around them saw it coming.
You just don’t know what is going on behind closed doors. Probably the people who want to look rich, aren’t.
Edit: it’s just not smart to spend crazy unnecessarily right now. If you see people doing that right now, chances are that they don’t really have that money.
Property taxes have gone insane, up 300% or more compared to 2019.
Didn’t you hear? The U.S will never have another recession. All they have to do is keep changing the definition…. Brilliant!! 🤣🤣
They only changed it in the 1940’s and we still have them. Simple facts shows we are not in one.
Always entertained by your content, it's awesome!
2019 food triple now
Recession indicator: You're broke.
How do you go broke?.....Over a long period of time and than all at once.
They've been lying about it for years now, hoping that it ends and people forget about it.
We’re on the brink of a total collapse, people can’t even cut back on spending to afford basic living (rent, utilities , food). entire paycheck gets spent every month. If I lose my job it makes no sense to rushing to find another ,not because I’m a bum but because there’s no point working just to Wake up and do it again
lol don’t worry, you’re easily replaceable. the american birthrate has been below 2 babies per woman, but still we have population growth
Get a different job and make more money.
We graduated out of recession and are in our freshman year of stagflation. Discussions of inflation are a bit simplistic at this point.
I don’t really think we have been in a thriving economy since the last severe downturn since 08! I think if we could improve our food supply to reduce chronic illness and cancer in our country we would have a healthy workforce. People also have too much stress which adds to the problem. Without a healthy workforce you don’t have a healthy economy. Pharmaceutical companies can no longer be sued which is concerning given the adverse side effects of their drugs. I think with higher accountability we would have much more solid research and better quality drugs with fewer side effects. We need accountability in healthcare and a high quality food supply.
The food is destroying everyone. Nobody cares though they let corporations serve them chemicals and they keep buying it.
This is the current definition of an economic recession in USA: "A recession is a significant, widespread, and prolonged downturn in economic activity. A common rule of thumb is that two consecutive quarters of negative gross domestic product (GDP) growth indicate a recession."
If you apply the actual inflation rate which is north of 12 percent, and deduct the printing of money by banks and the government, and military spending, then the economy has been shrinking fast for a decade.
The Rule of thumb is not mean it is the only metric they use.
@@JohnShalamskas cant reduce government spending
Outstanding video.
I agree with you that we are in for a Rough ride.
The way the government has gaslighted us and changed the definition of a recession and a depression has been infuriating.
After covid was game over. Before life was amazing 🌸