I bought 1 ream of 500 sheets paper in Oct. 2023 $5 walmart, and now it is April 2024-6mn. later and the cost is $7-yikes. People have borrowed forever and $20k for a disney vacation for family of 5 for 1 wk. charged-and people not giving up on all the luxuries like starbuck coffee daily in life that they don't have money for so they charge it, eventually bill comes in

Unless, you check out Thailand! Then the whole story changes!

The coming winter will be brutal for people who get laid off and immigrants dependent on government support. Once the lay off cycle starts recession will be impossible to ignore, if deflation develops, depression is certain. Then war will follow in earnest because economic failures will be global.

Same thing in CA with home insurance 😮 Also Tesla is laying off 10% of their workforce

Unemployed people use less gas.

Has anyone questioned how someone has 30k a month for a mortgage? I don’t know many people that make more than 200k a year. Thats 11k net after taxes here in California. I know this for a fact I work in the medical field in the bay area in California and we are some of the highest paid in the nation here. I’m just confused first off who’s buying these homes because dr’s here in the Bay Area make 300 to 500k here I also know this as a fact because I work with the drs and they are my friends so they tell me enough. They net 15 to 25k a month. So again who’s making this kind of money? Ask yourself that first. And you will have your answers as to why they are still being purchased.

Tron Lady.

People who are renting are exhausting their credit, saving their cash, stocking up on things they predict they will need when the economy crashes and they file for bankruptcy.

I have been feeling the decrease in business for over a year, however, the last few months, each month pulls in less. I work and work even more, but lack of business. It's right at 50 percent less this month than it was over a year ago. Very scary for all of us.😢

hi need some advice! I live in Miami rent free but go to school/work in palm beach county 5x a week, should I move closer? the daily drive is daunting but rent for 1 bedroom is insane!! I feel stuck

What is gdp you keep saying that?

It's not only fast food.

The richest guy in town is driving an old pickup truck.

The next fallen Roman Empire 2026 will be 250 yrs the us is destroying itself from the inside out the same thing that the Romans did. The us doesn’t need to be concerned about Russia, China, NK etc they need to be concerned about their own country which is falling apart

Who lives in those houses that you apssing buy? Who are those people who have so much money?What is their business?

Every1s drowning in debt or cash lacking while Govt literally invents new taxes for you to pay for them to waste!!

The heat draws me there, in Washington I get sick every 2 weeks because of how cold it is here. & Don't even say that Florida has bad roads 😂 we have potholes the size of Texas lol

220k/year to buy a house in Austin

Step 1. Dump the girl friend, Step 2. Dump the girl friend, Step 3. Dump the girl friend. Step 4. Figure out the rest, Dump the girl friend again.

What about others, that downsides their homes, moved to more favorable tax states, own their homes, and have no credit debt --- they have also stopped feeding the system with their discretionary spending because we are afraid the US will never stop printing money...

I understand what youre saying about wage inflation however why arent people SICK and tired of CEOS making ten and hundreds of millions dollars every year? that affects the bottom line for companies as well.

Everything is great. Just ask Joe.

Been in real estate 25+ years. We are on the precipice of a collapse. THE FEDERAL RESERVE IS RESPONSIBLE FOR THE BOOM/COLLAPSE CYCLES.

Gee, who would have thought negating market forces on insurance companies by legally requiring a person purchase it would cause them to raise the prices beyond demand because one is legally required to have it, no matter the price?

its not a recession coming guys, its a DEPRESSION the likes of which we have NEVER seen before, worse than the early 1900's

I have neighbors that pay their rent with a credit card and their life looks great. This is why I’m chillin with cash and staying disciplined. To me it’s just another crash waiting to happen. Banks don’t care though, they will get bailed out.

"fast food is a "hard job""? It wasn't when I worked at McDonalds for $1.65 an hour.

The only people who directly benefit from a bank bailout are the millionaires & billionaires that have invested in that bank. All FDIC deposits are insured up to ?? $150,000?? Something like that... and MOST Americans do NOT have $100,000 in the bank! But in any case, what savings the average American has is insured. So who is losing money if the bank goes belly-up? The rich. The wealthy that directly influence our government; THEY are being bailed out by the middle class taxpayer (instead of taking their losses, which they can afford) who is being squeezed into poverty. All these Liberal cities that are collapsing, losing businesses due to high crime, homelessness, increased taxation, the migrant crisis, the border crisis (a separate issue) and ridiculous policies that undermine the average citizen --- unfortunately these cities, despite bringing on their problems via piss-poor leadership, will, VERY SOON, be demanding bailout money as their hard-working citizens flee these cities. Liberal leaders (Democrat, Republican, and Independent) have taken the American Dream out of the hands of its working citizens. America was never about handouts, welfare, or even Social Security (which is intended to SUPPLEMENT savings for our elderly, not be their sole means of support). America's allure was the promise of an opportunity to better one's situation in life. That was the goal that inspired immigration, education, hard work, and a frugal lifestyle. It was never about trying to replicate the European welfare state, which incidentally, has been shored up by American taxpayers. We can't (and shouldn't attempt) to legislate common sense. There are more than enough laws and regulations on the books already. We SHOULD push back at the polls, and get rid of a LOT of career politicians who are not about serving their constituents. We SHOULD punish those legislators that created these horrible circumstances. We SHOULD allow the natural forces and consequences of Capitalism to manifest, instead of allowing the Liberal legislators and their wealthy patrons to manipulate the markets, and lie to us all about the recession. Who's kidding whom? People WILL be hurt, but primarily the rich. When the wealthy (and the political puppets they own) who orchestrate these scenarios, are stung by their actions, ONLY THEN will these matters right themselves.

Its all tailor made by the Democrats . Its political, the democrats want to flip Desantis and Florida if they cant win they will destroy it . Come November our new president Mr D. Trump will inherit a Democrat made resection disaster and they will blame our Mr D. Trump for it. Stay strong 💪 Florida. WATCH !!!

ya, wait till those migrants spending money now suddenly has all their funds CUT OFF, watch out then

Let them keep interest rates where they are, to keep inflation where it’s at and interest rates were Always 7%, except the last 14 years. Historically, @ 7% for mortgages, but people forget that. Other individuals reminded me of that and we definitely remember that. 0, 1% interest rates were not the norm in the USA. We just discovered some ‘secrets’ in our research. Understanding this economic info., more and more. What we learned, the 1 big reason, and it makes sense…there are many indexes, indices, bel that would be the right word, such as repo markets which give a gauge of what the real economy is doing and how the fed, etc., can manipulate the economy, but can be seen what they’re really doing, one example being the repo markets. Think we said that right, hopefully. (This is interesting and fun to learn, to unravel their game plan) But anyway, that was an example. And one of the two firm secrets we’ve learned, by experts, of course, was re: what Michael B., what you’ve just said about Treasuries rising. They rise I learned, to keep inflation down, so they say, but they manipulate everything. You know what the elephant in the room is? What I just discovered? The reason they Still Don’t Manipulate T Bill Rates, Rising Rates you get on a T Bill, is simply because of the Volume of T Bills Held By Foreign Countries, and they cannot play the Manipulation Game with various countries who buy US Assets, T Bills, for profit and manipulate those numbers. (More or less for ‘shames sake’, my word, and Credibility, Reputation, of US investments). Or, they’d dump them, en masse. So therefore, this is my conclusion, novice conclusion. Therefore, if the rate paid to foreign investors, govt’s is credible, US investors will also profit. They don’t want to play the same Manipulation Game with foreign govt’s., investors, so they’re would be a big sell off; bec., they’re walking a slippery slope the way it is now. With Bric’s breathing down their neck, and US ‘hegemony’ with the Petro Dollar also on that ice skating rink. !

And the recent storms and tornadoes prove that anyone can become homeless in the blink of an eye. 🌪️⚡ Then what? Concentration camps of elderly who are lucky if they can get $1000 a month to live on.? Rv parks only accepting newer vehicles? Blm and forest service closing lands. Wake up folks, you may be next!

Not to mention, 40 to 60% of restaurants have closed due to the pandemic. So, there are fewer restaurants to serve the same number of customers.

Hey Mike, it's true the legacy automakers (Ford, GM, etc) are losing massively on EV cars and are cutting back production, but it's a big mistake. They really need to scale production to lower costs like Tesla is doing. Tesla and BYD (Chi na based company) are both profitable but Tesla is way more profitable. The EV revolution is here, the saying that EVs are 'not primetime' is a utter falsehood. Tesla is a screaming, screaming buy in my opinion with full self driving so darn close, home and commercial battery storage to store electrical at nighttime to use during the day exponentially increasing year over year, and the Tesla Bot later on. People believe the narratives but if you spent time seeing the data it would make 100% sense. The emotional responses on Tesla are sad. Tesla being profitable with the fed funds rate at 5.3% is a testament to how great the company is ran... and THIS IS ONLY THE BEGINNING

Crazy. Bidenomics isn’t working huh. Why was it under trump I had more $$$ in the savings and now under Biden I have to use my savings to survive. Vote with your 🧠 next time y’all, especially to the ones who voted for this mess.

I listen to your pod cast daily. You always make me feel lucky I have old car and cheap little home. I have credit debt but in two years ill be debt free. I keep putting money into my 2004 Honda but its been a great car.

I went to a subway 7 years ago,6$- 2 months ago 16$

You need to make a MINIMUM of 1 million dollars a year to own a home and pay for all the necessary things you need. Pitiful. A basic 3 bedroom home costs WAY TOO MUCH now. We are rapidly turning into a 3rd world country right before our eyes.

Gangsters Paradise ❣️

Personal interest payments are up because people do not know how to manage their finances.

People don't understand this is all business and they need to know when to cut things off.

Biden's inflation has been destroying the middle-class since 2022. Biden silently spends 100's of billions tax payers money to buy votes. Wake up!!

I bought a mobile home in Mississippi for $2900 in 1973 lived in it 3 years sold it for $2700 a block from a 35 mile long lake. Used the money to spend 2 months in Nepal and a month in India

Dems want to distroy our economy before Trump takes office there's a special place in hell for Biden and supporters of communism

Question.....Who else listens to Michael at 2X's the speed?

I believe the government is trying (successfully) to destroy the currency.

Here are some solutions: Go to a city with a lot of jobs. Live in a city with a decent median home price. Buy groceries in the discount section. Don't use credit cards, especially if you know you have an overspending habit. Buy things for pennies on the dollar at thrift stores. Try to learn about building your credit score and keeping it high. It may take time. Try to pay a car with cash. This, I know, can seem crazy: try to pay a home off. Learning things about finances is up to the consumer. Applying those good financial habits is up to the consumer. The most difficult things to do is to effect policy through knowledge, arguing for better policies, collective bargaining. People at the top seem to care 0% so actually pulling off the latter "difficult things" will take a miracle since people are people. There's basically no incentive to make middle American's livelihood better.

What he’s not saying who’s responsible for all this mess. Democrats and there policies along with media. Putting more and more people out in the streets. This is sad and can be avoided vote Republican and see the difference in our economy!

The average and neutral Fed Funds rate over the last 50 years, has been between 4.75%-5.25%. The average rate of inflation over the last 50 years has been 3.8% from 1960 to 2022, the average inflation rate was 3.8% per year. Today the inflation rate is less than the historical average. And interest rates are just above their historical average. From 1971 to 2024 the average interest rate has been 5.42%. We are at or below the recent historical averages, the difference is government borrowing and spending. What we have is poor leadership. I think interest rates are lowered twice this year, once in June 1/4 point with a consolidation at 5.25%, no longer a range, as May’s numbers show the slowing the Fed wants. Continued slow economy through the summer with a 2% growth rate. Just a flat economy. And another rate decrease of 1/4% to 5% just after the elections to help out with Christmas shopping that represents 4% of GDP. Maybe they can kick it up to 6% helping out the year to show 4% growth for the full year. Holiday spending in the United States accounts for 4% of the country's gross domestic product (GDP) I see equity markets rising, interest rates at 5%, growing employment and incomes, and people on fixed incomes able to earn 5% in a 1 year CD. If you are average, make $50,000 a year over 40 years you earn $2,000,000. If you save $1,000 a month and invest in the stock market, (10% average return), you should end up with a retirement account of nearly $3 million dollars and social security of $2,500 a month. If you bought a home between $250,000-$400,000 and didn’t move your home value and equity should have at least doubled over the term of the mortgage 20-30 years. Financial literacy in the U.S. is poor. The average IQ of all Americans is 98. The group with the highest IQ, Ashkenazi Jews average 115 The group with the lowest average IQ, African Americans at 85. If we invested in truthful education, everyone would be better off.

And now the Republicans want to raise the retirement age to seventy. The assault never ends.