Americans Are Running Out Of Money
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- čas přidán 28. 05. 2024
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Two years ago, I moved into the smallest and cheapest apartment I could find. It's a quiet old building with good bones. I made my place NICE with some scrubbing and paint. I'm 4k away from being debt free. I cook all of my meals at home and wear my clothes until they aren't fit for work. I drive a 2009 Toyota SUV. I don't care what people think. I have savings and investments and my cost of living is low. I can sleep at night knowing that I will be debt free in 3-4 months. That's worth a lot.
Hey ! Just curious where you are from and what age roughly? Im from New Zealand and turning 38 this month im in a very similar situation so im being nosey really lol !!! I love the fact you have a reliable care and cook for yourself so many I know dont do this....
@@ronervine I'm 58 and live in the middle of the USA. I feel the same as I did when I was 25 so I have no plan to retire. I'm a widow and my kids are grown. No grandchildren and no pets. I just signed up for 40 hours of overtime each month at work which pays 1.5 times my regular pay. Time to add more to my savings and investment accounts.
In Thailand nobody would care you drive a 2009 Toyota SUV. Nobody would look down upon you.
❤❤❤
🙌🙌🙌 thissssss
If you're running out of money, just get limit increases on your credit cards. Just like the government!
Printer goes brrrrrrr
Best comment!
😂😂😂
Government has the ability to drain YOUR accounts to pay their debt. You don't, 😂
Best comment on this video! LOL
Stimulus check was only like $1200-$2000 for a single person for a year. That literally a month worth of bills, not even all your bills.
Almost all the money went to businesses
Vacations ? cars? bruh all my money went into rent WTF !!!
My wife and I have never flown on an airplane together. After 34 years of marriage. Vacation? What the hell is that? Our house is paid off though.
I got so sick of paying rent thar I bought a small used camper to live in for a year or ?? To try to save money.
@@MX-CO👍
Rip
Right! Them: You shouldn’t have bought a $500k house worth $250k! Me: my rent doubled. Kiss my ass 😂
Housing is what's killing people. My apt went from $750 in 2017 to $1500 by 2024. So it doubled. My income didn't double in the same time frame. Housing is the main culprit without sizable wage increases.
Agreed. From 2016-2022, the QE, relaxed regulations for buying homes, and low interest rates were probably one of the worst, best situations we have ever had. It was a recipe for disaster at some point.
because all that inflation went into housing, people just look at the housing market, they see it goes up and just pile in bidding up the prices further. We are due for another 2008, that would bankrupt the current real estate investors and releases the houses back on the market for 50% off
Yes rent is absolutely ridiculous. I think what really hurt was the rent moratorium they did during Covid - which they should not have done- and this allowed the landlords and other individuals who had rentals to make back the money the lost in those months and years! When the government intervenes to help it just hurts all of us in the long run..,screwed up everything
Houses and rent will keep getting more expensive until the bubble finally pops. When people can no longer make rent or pay their mortgages, things will be forced to readjust. Maybe people leave the city in droves, maybe their a homeless crisis that make Los angles look like a paradise, but things will work out eventually when people stop propping up this inflated market.
True indeed... Rent is killing us
I think it's funny that when people talk about savings that Americans have they talked about the stimulus package that added up to at most a few thousand dollars and it happened years ago.
Exactly!
I spent mine on a used car along with my savings
I agree.....I think I received maybe $1-2K several years ago, and it went right towards credit card debt. I really doubt very many people, actually, saved that $ and still have it. They'd have to be the minority. That stimulus didn't really help anyone. We could each get $10K from the government right now and it couldn't help this country. I don't get why videos keep referencing this minimal stimulus, either? Ridiculously high rents are the main factor that's draining the blood out of our economy. At some point, I think we all need to stop paying our rents. Would they really evict everyone who rents? It might be the only way to get rents lowered. Otherwise, we just all need to continue to cohabitate and pile in on top of each other....going to be the only way to afford food and have a roof over your head at some point. I'm thinking about developing a mobile app called 'Perpetual Slumber Party' or create a 'See How Many People You Can Cram Into Your Apartment' challenge, to encourage people to do extreme levels of cohabitating, so we can start fighting back against high rents.
I saved my stimulus checks
It helped me a lot. I have a better job now and am pursuing career goal. I paid all my debts off and my student loans off from my degree. The stimulus helped me when I was poor and didn’t have a bank account really. I had only a few bucks then and I had Los my job in April 2020
No...the regular Americans are running out of money, the corporate rich are drowning in money. Get your story straight.
If you go "down a rabbit hole" and then end up at CNBC you aint doing it right lol
Lol
ROFLOL!!! Absolutely TRUE!! 😂
Well fucking said.
True. The culprit of this economic disaster is central banking and interest based economy. Few know this.
And if you want go deeper in rabbit hole, look into who owns the federal reserve.
@@Najibway yup most things go back to who OWNS the federal reserve. im assuming a cultured person such as yourself knows about hjr192 and how we have a real birth certificate sent to the fed that makes us corporate entities to back the currency (debt). and dont even get me started on the great gold confiscation in America.
That’s what happens when people buy 250k homes for 500k.
And they buy $300 dollar carbon fiber baseball bats for their Childs t-ball game.
Sounds like a hurt renter priced out
@@NeoSoulCrew There is nothing wrong with renting, provided you are mindful of how much you're spending on rent. But people have gotten to the point where they would rather spend 2k a month on rent rather then take on the risk of home ownership
And some of that is due to social stigma. Many would rather be poor but living in the right type of home rather than buy a mobile home on a half acre plot that they could afford.
No, this is what happens when the government keeps printing money. It's called inflation. RICH PEOPLE BENEFIT FROM INFLATION., IF YOU ARE RICH, 500k is a drop in the bucket.
@@rickdunn3863but, but, but it’s greedflation cnn says (every poor dem voter right now) 🤦♂️
No way people still have stimulus money. Most people didn’t even get very much and most was spent right away. Where do these people get their information.
The ONLY people with "stimulus" money are THE ILLEGALS! N 😢
They make it up and restore their content
I just dropped mine into a savings account. It’s still there lol
I had like $11k and it was gone in a year, but I could see how others could make it last longer.
@@neuralgarden The main thing is the ppp loan scams that got ppl thousands of dollars, I know ppl who had half a million dollars for an Uber business..
My stimulus money went to paying off my student loans...Sorry we're not all millionaires.
Well done. You reduce your debts, while others squander their money on clothes and cars. Keep it up and you will never go hungry.
The cost of living is out of control. It's so harder to survive now. I recall going to shopping a few years ago and not paying this much.
Went to target today was 130 dollars. Got face wash Body wash Razors sun tan lotion for body an one for face got shampoo an conditioner an one of them tiny electric eye brow trimmers an a pump hand soap an that was 130 dollars fucking insane
When you pay the price for expensive things, you feed inflation. Find places to buy things cheaper (dollar tree, amazon, etc.). You don't have to accept the price of something if its too high there's almost always a cheaper place or a substitute. When people refuse to pay the price, retailers are forced to lower prices to push inventory, basic supply and demand. Only YOU can prevent inflation. And the government.
@@bmoreblondie6301impossible
@bmoreblondie6301 That sounds crazy high, but it also sounds like you aren't a bargain shopper. I would bet you could have bought everything on that list for way less by researching cheaper places to buy it all.
@@bmoreblondie6301lost me when you said you did your shopping at target.
Ive struggled financially my entire life, (born into a poor family) and it feels like tou get to watch other people actually live and enjoy life, while you wonder why your even here.
I worry more about money than death.
I grew up poor too. I dropped out of school young and started working construction at minimum wage.
I climbed the ranks and eventually started buying real estate. Became an executive for a large construction company, and today am a multimillionaire.
Don’t give up… just gotta grind harder than the average guy. It’s like playing monopoly and only being able to use one dice, but you’ll be fine, as long as you give it hell.
@@buildingbuildercip8292 yeah "just do this.. just do that... you'll be rich bro because I am" lol you don't seem to understand the complexity of the world we live in if you think it's all bootstraps and elbow grease
@@buildingbuildercip8292 whatever...you'll lose it all too...WATCH!!!
I grew up in foster care. It was tough to gain the skills to get a decent job without going to college. It also is tough when your first financial crisis is when you graduate high school and are suddenly homeless.
That’s what we call fomo
I'll say this, i was able to work throughout the pandemic, and before Biden came into office, we had 23k in savings. I paid all our bills and never fell behind. We always paid rent early. Then, shortly after Biden took office, gas was up $4 a gallon, food was way more expensive, and our rent was increased by $9,600 dollars a year. There went our savings. We ended up moving out of state for a job that paid more with a more balanced cost of living Vs wages. There was also a new hire bonus. We like it here, but we're currently looking into new jobs out of state to stay ahead.
The most annoying thing is I'm pinching to save 100s of dollars a month just to get a random car, medical, or house bill for thousands ):
Right ! It never fails
Sounds like life to me! *That's actually a country song! Just keep battling & never give up!!
You can't save money when you are literally skipping meals to make ends meet.
You should move back with youra parents if your having to skip meals. Regroup, refocus and then rebuild.
@@outofthebox5441 I agree. In fact people should stay home and save up to buy homes. People used to have multiple generations living in one household or compound which provided a support network and a community. People would be better off if we revived this tradition.
food pantries
@@outofthebox5441very privileged thing to say most people don’t have that option
@BeNice2MePls. And many people do! Find ways not excuses!
Insurance cost is the biggest rip off
Insurance, Taxes all sorts of them etc….
To be fair, if you run out of money, big problem...if you die, your problems are over.
Exactly.
they still tax you. lol
@@lilpandanesegirl They can try...
Yeah but then you become your family's problem with funeral costs, emotional distress and if you had debt they might have to deal with that too.
Ah yes let's just kill ourselves together. Jones America.
Food, just by itself, is way out of whack.
do you mean at the grocery store or do you get it dellivered?
@@La_sagne Grocery store. Some items have gone up at least 35%. I've seen others 50%. Not the aggregate.
I just went into one of our local grocery stores and noticed all the "regularly priced" items were almost $2 an item more expensive than the big box stores. Nothing was worth buying except the sale items. Not sure if that is an indicator of where food prices are headed in general. Definitely caught me off guard.
You have to eat simply. A roasted chicken, vegetables, rice, potatoes, oatmeal, eggs, apples, bananas, beans, meat that's on sale and a few canned goods. Prices have gone up but the basics are still affordable.
eating well by cooking at home isn't expensive at all, especially compared to restaurant take-out. Even fast food is generally far more expensive than grocery shopping and cooking/meal prep.
just let me know if you disagree, I can give some numbers
I used all my stimulus money to pay off my debt lol. Think I made the right decision for myself
That's the best investment you probably could have made, especially if it was high interest debt.
all stimulus money were like half of my monthly rent
@@katt6894 wasn’t able to pay it all off but during Covid I found Dave Ramsey & that really shifted my mentality when it came to money. Got real intense when it came to saving & I got myself outta a little over 25K in debt
Shuda invested a good portion in da sp500
Most have been living off credit cards for the past few years. Inflation, taxes and wage stagnation are killers.
Man these bots are crazy...
I am slowly on a downtrend to being broke. The amount of stress this puts on you, especially when you have kids, is insurmountable. Not sure what I’ll do, but I’m sure I’ll figure it out.
Get a second or third job to increase income. Live below your means and invest the difference. That's how you become wealthy.
Keep the faith!
do overtime, door dash and try food pantries! i am seeing LOTS of seniors at food pantries just for hot dogs now
@@MrRuben536 Well that would be easy if I had daycare after normal hours.
yea its not 1960s anymore where all you had to do was work 9-5, now you have to gamble in stock market too in order to stay afloat
We are seeing the results of the
pandemic. I live in Iceland and in 23/24 89% of property buyers are investors!!! It’s insanity.
You will own nothing and be happy, going exactly to plan!
well how else people are supposed to protect their money? can't keep it in dollars or euros, then all value of your money will be stolen. You need to buy assets like real estate and stocks just do keep up, otherwise you will fall behind others if you just stick to your 9-5 and nothing else
Inflation ate our savings.
Its also the inability to adjust spending habits somewhat
Inflation inflated my savings
Oddly enough, in spite of inflation which I hate just as much as anyone, this inflation has not effected us all that much. I think it has something to do with the fact that we are very careful with our spending, we save a large percent of our pay off the top, we eat food prepared in our kitchen not the local fast food establishment and we pretend that we are broke. Our monthly food budget is $600 which is down from $800 two years ago.
Our trip to the City of Debtfreeville started in 2017. During the pandemic, when student loans were in forbearance, we tripled down on our parent plus (student) loan and paid it off in full 18 months into the forbearance period. While other parent plus loan borrowers were not making payments and instead financing new cars and vacations, we chose the road less traveled. I had one co-worker mock me relentlessly telling me no payments were required and no interest was being incurred and that we should at the minimum invest that payment money. All fun and games but today he has made zero progress on his loan, actually he has gone backwards because he is on an "Income Based Payment Plan" and mine has been paid in full since 2021. I'm investing and saving significant amounts of money because we are debt free and he is worried about making his car lease payment and he makes twice as much salary as little old me.
@@thedude5040that's an illusion. You may think you have more but what you have doesn't have as much spending power as you think
@chrishart8548 my brokerage account is up 180% since 2020. I'm far far far ahead of inflation lol.
No what worse is the amount we get taxed. If you really sit down and calculate all the tax we have to pay from income tax, tax you pay to put fuel in your car, tax you pay to put food on the table, cell phone bill, water, electrical, heat etc… and add all that up, it’s almost 50% and that’s not calculating the actual cost of those line items and before any retirement, health insurance, car insurance etc… you “$100k income” get reduced to almost $50k just in taxes alone. Then you start subtract all the costs that it’s actually taking to sustain a life in this society and it’s reduced by half or more again and by the end of the day you have very very little left over to enjoy your time in a society that offers quite a bit but we can’t.
I used to be the absolute opposite on all this and blame people for spending out of control(which they still are) but as of recent im slowly leaning towards and starting to open my eyes and realize how squeezed we are all getting.
Americans pay too little taxes actually
And you didn't even mention property tax!
@@thedude5040 that is an interesting outlook. What do you think should be done?
@@lsgsrob2102 raise taxes and cut spending. You will be taxed more and get less in return, but it will remove the largest source of inflation.
That's because the government needs your money desperate.. they're the largest contributor to GDP with all their spending. People don't have enough money to spend, so the government spends to keep the financial system afloat.
Another increase is property taxes, when your home value raises 16k in one year .
Greedy fuckers
Inflation is a tax by another name.
Inflation is legal counterfeiting and counterfeiting is illegal inflation
One of my favorite quotes is "save automatically, or you won't"
Keep up the good work Graham
i used to do okay. i live alone, make a respectable $22 an hour. i was able to pay my car note, rent, pet expenses, and go to the grocery store without really having to pay attention to how much i spent on food.
then food, gas, and all my bills went up. and i am struggling to make ends meet. i am a step away from complete, financial ruin. i’ll go entire weeks with barely any food in my kitchen. i’m always late paying a bill somewhere or another. and it’s just not right
Always enjoy watching your channel Graham! Keep up the awesome work!!
I just stopped increasing my budget for stuff like food and gas. I let the bills and savings increase. Like since covid, ive kept my personal spending budget unchanged.
I basically eat exclusively at home now unless work decides to buy lunch.
Good luck but you can't beat the system that is broken
Back during COVID, prices didn't increase like crazy, so we could save a ton of money.
Post COVID, everything we saved up is being used.
For the black lady who's saving 15% of her income, I'd like to know her profession. Government or private?
Good info here Graham, thanks for helping out us out!
My rent goes up $150/month every time I renew
The stimulus was meant to make money move through the economy, people saved it wisely so they had to put our arms behind our backs with inflation to flush that money out 🤷♂️
For thirty years, I felt constantly short on cash-it's just the reality of living, right? I'm not wealthy, but I've moved past struggling financially.
Are you aware, that somebody changed the definition of recession during the pandemic?
I saw a interview with Daniel Demartino Booth. She said the people spending are the people who can least afford it!
Yup
That's correct. The poor sinking more and more.
@@aveaguila7679they can only sink to a certain point
She’s correct and she’s a wise woman.
@@chrishart8548Bidenomics is working!!! It’s called the trickle on theory
Rent is insane! But, cutting spending is very unpopular.
I agree that cutting spending is important, but we can't forget that many people try that and don't see results because they don't take the money that they save and put it in a bank or investment account that makes interest. We are past the times where just cutting spending by itself is enough.
@@heyitsmorgan7613 I agree.
My company gave us "raises" but then raised our health insurance premiums to more than the difference we had in getting that raise. 😂
Successful people don't become that way overnight. What most people see as a glance of wealth, a great career, and purpose is the result of hard work and hustle over time. I pray that anyone who is reading this will be successful in life
Wow thank you for your kind heart, I really find it difficult to trade myself am looking forward to find an Exprt to help me out when I ran into you
imagine investing in Btcoin earlier.... You could have been a multi millionaire precently
@@aaronferrell3129 You are right. Been thinking of going into gold and cyptocurrency
Assets that can make you rich
*FX
*Btcoin
*Stocks
*Gold
*Real estate
You’re right but a lot of people remain poor due to ignorance
I paid off debt incurred because of a divorce and pandemic hitting at the same time.. Now, 75% of what I earn is going into retirement and other investments so my kids can be part of the "haves' instead of the "have nots.' when I pass. We have become like Europe and Canada. You will have property and investment owners, and the rest is the renter class. Renters will be kept poor their whole life, while those who own properties free and clear--will control those rents and otther investements effectively keeping themselves generating more wealth at the expense of others. Do it now (save and invest) before it is too late for you.
It depends on when you buy. I bought all my homes between 2010 and 2012. People who bought in the past few years, especially if they bought more than one home, will be ruined in the next few years. It's like any investment, you make your money on the buy!
Imagine getting divorced
Love your channel!
I'm stressed on behalf of your computer, because of that coffee and your hand movement. :)
I don’t know why people think just getting a raise means you will be wealthier, prices raising/inflation/interest /higher taxes just eats it all up.
Because they are thinking in a static way.... like income is the only factor in their outcome not all the other things matter as well...
Recessions don't happen with inversion of yield curve, they happen when it UN-INVERTS
Exactly
This is one reason I stayed single. As a single person making a good income with almost no debt, I don’t worry about running out. I worry if I’m going to have enough to get me through retirement. Another great conversation here, *Fiola!* 🤗
Keep coping 😂
That’s so sad
Your financial situation grows stronger with a relationship not weaker. Multiple studies prove this!
You don’t have to worry as much about retirement if you have two incomes
Find someone with the same goals. They are out there.
We had no savings, putting everything on credit cards. Stimulus check went to buying more crap we didn't need. 2022, started the dave ramsey plan with 205k in consumer debt alone. Now we're down to 12k left and looking forward to actually paying towards our future. Found you through a podcast yall did with the Ramsey team. Really enjoy your content. ❤
There is a recession they just changed the definition
PPP loans were forgiven and corporate profits have never been higher. We are in the middle of the largest wealth transfer in history.
Largest transfer of wealth in human history already happened during covid
Great video
You rock!
Since January 2020 all I've done was work, eat and sleep. I'm an electrical engineer for an Aerospace company. I live paycheck to paycheck. I've had slight pay increases, but my cost of living has substantially gone up with no change in the way I live. Infact I've cut my spending significantly to help. Even with that effort, due to inflation the value of my salary is less than it was four years ago.
Sounds like my life 😮
I'm an electrical engineer for the utility industry. Since 2020 I've paid off my student loans, bought a new car, got married, and built my first house. Maybe you need a job change? I just graduated in 2018.
Bro your budget need revision
new mexico, sweden and thailand are the way to go
That's unfortunately what happens when inflation out paces pay. 90% of the country is experiencing it.
Can't run out of money if you have none! 😂
Can go into debt tho
Why do you say people had “an EXTRA $600 A WEEK?” That money was in most cases, to make up for people’s jobs closing up. I got it and it went to Rent and Food, etc.
Don’t forget they made the term “essential worker” so they can force people back to work so businesses don’t have to pay unemployment
Great video Graham. I have also heard that Yatta bank is also a great option.
We want longer videos !
I think the reason people don't trust banks is because of things like overdraft fees, low balance fees and other fees. People who live in poor neighborhoods and use check cashing and payday loan places instead of banks. Even if they personally have never been screwed by bank fees, it's in the culture around them because their parents and friends have been burned. They know they check cashers and payday lenders are screwing them, but it's more transparent.
I think there's been regulatory prizes, but it used to be that banks would order transactions in a way where the big ones would happen first to push you below $0 so they could charge the $35 over draft fee multiple times, instead of once if you had enough for all the small transactions but not one big one.
What fees only take a portion of the wealth.... how can that be a major issue? My favorite bank only cost $3.95 CAD per month which is only about $48 CAD per year!!!! That fee is only a small portion of the total account value per year so why does it matter?
To some folks $48 Is a lot of money. Grew up poor, that's how I know. @@donaldlyons17
@@donaldlyons17 I'm not talking about people like you. I'm talking about people making minimum wage and having a balance that never goes above a few hundred dollars. Overdraft fees kill them. The unbanked have good reason to not trust banks.
@Joe-no7gs if you hold lots of cash in your house you have the risk of it being stolen. Banks are quite useful. Keeping all your money at home is quite risky.
Another biggest fear some people have over death is oral presentations.
🙋🏻♀️
As much as it's a problem for the individual, my concern is long term stability of banks. What happens to the economy when that pool of available cash to banks starts significantly shrinking?
They print more ...
we`ve been in recession - they`ll tell you a year from now
also literally 40 seconds in and theirs so much to say ive never hear 2008 called the great recession missed out on that one too lol
Early upload!
If you’re working common jobs like most people are, car repairs, insurance, and rent alone will do it to you. Throw in a couple emergencies, your savings are gone. Especially if you’re just starting out, it’s very difficult to keep up let alone get ahead. Things aren’t looking great.
the thing is everyone dies and its a given, worrying about it wont change it, its something everyone accepts to a degree. Running out of money is not guaranteed and focusing on it might help fix the issue
The longer a person refuses to cut back their lifestyle, the deeper the hole they will dig.
If there are just as many people earning 150K a year as there are making 50K a year who are living paycheck to paycheck, then the people making 150K are irresponsible with their spending. If the city is too expensive to live (ie NYC, San Francisco, etc); then you need to move to suburbs or a smaller town.
Everybody is basically proposing to sacrifice quality of life
Most of the people making 150K have to live in the city to make that amount. If they move to a rural area they will likely have to get a new job, a new job that will likely pay 50K. I can find jobs that pay double what I’m making currently in rural America in a city.
@@henson2k yes, if things are tough, that tends to happen
@@ironically_iconic9848not true I make 150k in Akron Ohio no big city
The audacity of our government to make us citizens pay taxes when it continues to print money for other initiatives
If you have under $100k in the bank you know what studies are right.
Yeah, everything is ridiculous for the same car insurance coverage. I started at 134, and now it's 215. I am just thankful I paid my car off, but 😢
I'm not feeling all this positivity, I'm debt free and still feel like things cost more than my income has increased, it feels like the media has gotten their marching orders to convince people things are better than they are.
As Warren Buffet says “you never know who isn’t wearing pants until the tide goes out
Hi Graham, what watch are you wearing?
big problem: spending all your money on stupid stuff trying to live the fancy life
Worrying about running out of money before dying is the very definition of retirement planning...
I wish I could go back 30 years and do this for long term wealth.
It's not rocket science. When you drop helicopter money on people that only consume, that money goes out the door on retail goods and housing. So all the stimulus money wound up in the hands of wealth business owners and land owners. The higher velocity of spending caused inflation.
I bought a 25k deck. The way I see it, I simply moved money out of my bank and put that into equity. Don’t regret it at all, it’s a beautiful deck.
Good call brother. Spend it on assets. (Savings account is definitely NOT an asset)
Makes sense though because you have to live with the consequences of having no money. When you're dead, you're dead.
I have just got back from vegas and I sore lots of money been gamble. the place was packet out.
Recessions don’t usually occur until after the curve “de-inverts”.
The fact you know that and he doesn’t is astounding. I need your channel name 😂
Anyone else kind of put off that he doesn’t know if people are broke or not right now? Everyone in sales knows how broke everyone is and everyone in finance should also. Lol
Yeah but something is wrong with him to begin with because he only seems to worry about making videos and seems to have done little talking to everyday people. People in CZcams finance are busy getting videos ready so I am not surprised they don't have a clue!!!!
@@donaldlyons17 it’s wild to hear the “professionals” talk about finances. It’s like they all get their info from other news sources. He literally said he didn’t know what to believe. We’re here for you to tell us what’s really going on. 😂
@@picklikeapro6952 well no I expect pros to really only know their area not to understand other areas
@@donaldlyons17 I’ve only found one that is pretty proficient in all of it and he only has 8.4K subscribers and I always like to check around.
American is running out of money but US govt has money to give billions for free to rich foreign country
It’s WHY I wrote a book, Back to Frugal. Many People need to start living more frugally. Some older people will tell you they wish they didn’t spend on stupid things in their 20’s or 30’s. In our country they’re predicting a huge amount of travel this summer, and I’m guessing a majority of those carry cc or some other debt. Some people just feel entitled to have a lifestyle but realistically they can’t afford it. I have friends in multiple states that don’t pay off their cc debt and continue eating out at expensive restaurants, take their daughters out for mani, pedi dates, trade in their vehicles every 2-3 years, etc. Too much mindset of instant gratification. It’s really sad, and scary where our nation is going. Best I can do is just make educational videos that go with my book, to try and help those that want it. Frugality = Financial Freedom 👍
Graham, your commentary has really come a long way in taking into consideration the varied and nuanced challenges that Americans faced in this weird period of history. It may not be as attention grabbing as completely attributing blame to irresponsibility to the little guy, but thank you for it.
Also, thank you for touching on the bizarre results of studies done on "pandemic savings." I wonder how much the positively-framed results of overall savings increasing have to do with misrepresenting the average American's savings by reporting average balances rather than the median. Anecdotal evidence, but most people I know (myself included) that received the pandemic checks weren't still drawing on the $600-1200 3-4 months after receiving it let alone years later, yet it's treated as this huge influx of cash that's going such a long way for the average American, yet hardly any attention is given to how PPP loans (unavailable to the average working American) may have affected the numbers.
Hey guys!
If u make 100k in most of the us.its lifestyle creep and going out to eat constantly etc
Restoring the gold standard won't make life better. Instead of not having enough dollars to pay your bills, you won't have enough gold to pay them. Historically gold and silver were the money of the Malthusian world of mass poverty & starvation, yet for some reason the gold obsessives don't want to talk about this history.
Yes. That is not a controversial claim.
It means that dollars would again be backed by gold. People aren't walking around with gold in their pockets.😂
@@AlphaJ369If you don't possess the gold physically, then you are just taking it on faith, like a religious simpleton, that some unseen gold somewhere is mysteriously "backing" your dollars.
The inverted yield curve generally predicts a recession within 18 months after it re-steepens. The yield curve is still inverted thus that clock really hasn't started just yet to see if this time is truly different.
Yo Smosh is going to be wild
We had a recession already in 2022 Q1 and Q2 negative. But no one talks about that or admits it.
Most Americans don't budget nor do they prioritize saving money.
A budget can't solve an income problem nor can people save making the same as their expenses..... They have to outpace expenses to have money to save....
@@donaldlyons17 Nothing you've said invalidates my point. So many people make plenty of money and are broke.
@@winstonmiller4854 Well not sure what you mean by making plenty of money and broke but the median income across the US is not plenty by my definition. Also the people in my family that make the most also can afford to spend the most and still break even. Prioritizing budgeting and saving money does not make the math work differently and median income earners are as a majority not rich compared to their expenses.... There were reasons why the government sent out checks during Covid..... and I doubt it was because they thought people were "hood rich."
@@donaldlyons17 You seem like a good guy Donald and we actually agree that there are people that need to make more money in the US. I think you read your own view into my post rather than responding to what I actually said. However, I'd argue that having a budget is even more important for those that don't make much money compared than for those that do. If you are trying to say that making and following a budget isn't important, we will just have to agree to disagree.
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I wish things would go back to the way it was even though it was still crappy then.
Bro I just paid $62 for a full tank of gas in a Ford Fiesta economy car. Gas is unbelievable in California!!!
Greedy home owners getting a 2% interest and charging 4000 per month on an average home
9:41 Exactly what I need--a middleman taking a chunk out of my investment contributions!
Trust banks?… it’s like 2008 didn’t happen 😂
Isn't this the guy who told people to waste their money in 2020?
lmaooooooo