The TRUTH Behind The WORST ECONOMY SINCE THE GREAT DEPRESSION

It's always good to give a reality check of where we stand in today's economy and I couldn't think of a better way to do that than talking to my friend ‪@adam.taggart‬. He has a wealth of knowledge of where things are headed due to the countless amazingly smart people he interviews on his channel regularly. And it sounds like things are going to have to get worse, before they get better.
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DISCLAIMER: This video content is intended only for informational, educational, and entertainment purposes. Michael Bordenaro is not a registered financial advisor. Your use of Michael Bordenaro’s KZbin channel and your reliance on any information on the channel is solely at your own risk. Moreover, the use of the Internet (including, but not limited to, KZbin, E-Mail, and Instagram) for communications with Michael Bordenaro does not establish a formal business relationship.

[@MichaelBordenaro]

For the resources Adam mentioned, visit thoughtfulmoney.com

[@juanrestrepo1017]

You won’t like the above expectation 2.8% GDP print 😅

[@Angry_Bob]

@@juanrestrepo1017that’s what I was going to say but as we all know GDP is revised so heavily in the coming months.

[@gregorysagegreene]

Inflation is not about how far your dollar will stretch, but if they have left you with anything left. Four years ago I had around 25% of my income left over for various purposes. Last couple years it's been virtually nothing. So that 25% *cumulative* true inflation number matches up. You can't have a real economy if most of the people, like myself, are perennially struggling week to week and constantly broke. That is effectively going backwards. In my downunder vernacular, but I'm living up here, that basically means when something breaks - like a car - you're *stuffed.*

[@Angry_Bob]

@@gregorysagegreene I don’t think the owners care if we struggle. What they don’t want is for all of us to be out of work. A lot of people not working means they must find something else to do with that time. Many of us are animals and mobs may form.

[@VenturaIT]

You guys talked for an hour and a half about all kinds of economic formulas and theories, but you never mentioned that the debt is equal to the payments made to cover and pay for absorption and assimilation of illegal immigration, and neither of you know where all the 15-30 million NEW illegals are living not to mention the 150 million prior illegals, 33% of California residents are foreign born. You never talk about this so your concepts are just off target mental masterbation, because the root of all this is population decline and the replacement of the lost population with illegals over the open border who push out even more locals. The entire economic picture is rooted in these two formulas which are never talked about. Fix the population decline and the illegal immigration and everything else gets fixed automatically. You should be more honest about this, you have mentioned it a couple times, but nothing you say is actually really what's going on, what you talk about is just the symptoms of the loss in population and the 3rd world replacements in illegal immigration. Your picture is big, but it's not big enough to capture what's really going on. Again, the entire economic phenomenon that's going on now is summed up and governed by two simple variables: population loss and illegal immigration. All the bad stuff and evil factors that are coming into the country are coming in to fill the empty space created by Gen X who did not have kids because we were brain-washed that the world was overpopulated and there were starving children in Africa since we were in kindergarten.

[@Mathew-zs3nz]

Coming out of facing alot, I knew two things about the stock market: It caused the Great Depression, and the fastest way to make a million on the markets was to start with two million. And then the Great Recession happened only a few years later. So yeah, I wish someone had better explained it to me earlier in life. Having a good entry and exit strategy will make you succeed in the stock market.

[@DhanaPayar]

There are actually a lot of ways to make high yields in a crisis, but such trades are best done under the supervision of Financial advisor.

[@Olivia-z5c]

Exactly, most of the investors pays more attention to the profit aspect forgetting that the market involves ups and down. securing your financial position requires lots of patience and proper education on the market so as to know the right profitable stock to buy and invest in. I made over $260k in profits, from just the Q4 of 2021. Investing in the stock market is most profitable when you understand how the market actually works.

[@Jasonshelton-]

I really acknowledge your comment, i have been trading stocks for a while now but i have not been able to make much. how do you achieve this feat?

[@Olivia-z5c]

Her name is Jessica Lee Horst can't divulge much. Most likely, the internet should have her basic info, you can research if you like.

[@Richie-3wr]

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 email shortly.

[@tatianastarcic]

The economy is grappling with uncertainties, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[@Michaelparker12]

Things are strange right now. The US dollar is becoming less valuable because of inflation, but it's getting stronger compared to other currencies and things like gold and property. People are turning to the dollar because they think it's safer. I'm worried about my retirement savings of about $420,000 losing value because of high inflation. Where else can we keep our money?

[@nicolasbenson009]

Due to my demanding job, I lack the time to thoroughly assess my investments and analyze individual stocks. Consequently, for the past seven years, I have enlisted the services of a fiduciary who actively manages my portfolio to adapt to the current market conditions. This strategy has allowed me to navigate the financial landscape successfully, making informed decisions on when to buy and sell. Perhaps you should consider a similar approach.

[@BridgetMiller-]

this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation

[@nicolasbenson009]

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.

[@berniceburgos-]

Thanks for the advice. The search for your coach was simple. I investigated her well before using her services. Considering her résumé, she appears competent.

[@Imaworried]

You have the rare skill of letting your guest speak and allowing them actually finish their thoughts. Kudos to you.

[@SSNESS]

I’m not going to listen to a 2 hour video

[@Imaworried]

@@SSNESS OK

[@tofubadguy]

@@SSNESS 1 hour 24 mins

[@rillesttalk]

Facts 💯💯💯💯

[@MereAYT]

This. So many channels interrupt the guests and even the clips sampled to where you can't pay attention.

[@jiehe5385]

I am a restaurant owner. My average monthly sales declined about 30% in the last three months, and most of my friends in the food industry have the same problem. When the business is super slow, I like walking around the streets nearby. I see most fast food restaurants and casual restaurants are empty, while fine dining restaurants especially Michelin restaurants are full of people. So I guess the rich is getting richer and poor poorer.

[@josefj1776]

The Jucie crab is full so is the outback, bone fish grill, and Tbones just to name a few that are packed every time we go.

[@colinmarshall6634]

Everyone is 50% poorer. The difference is that the rich already had enough to absorb that 50% monetary devaluation and continue with life as-is. The poor were already barely getting by and are tapped. I just started a new job with a lot of fresh college grads and they NEVER go out AT ALL, not even to eat. They just don't have money, and they hoard what little money they are able to get.

[@user-qg7el5rr7d]

I was just in a family chain restaurant and the place was packed out the door at 4pm. Wife and I had to sit at the bar - no seats. Sorry you are struggling.

[@breannajones2161]

I Uber eats and honey the fine dine is definitely packed and fast food slim

[@Rassa5845]

Agree

[@oneillbilder]

When the Great Depression and other huge catastrophes occurred, I used to believe that everyone went bankrupt, but they didn't... Some made millions; I also assumed that everyone closed their businesses during these times, but certain did start new ones. It all depends on your point of view; there will always be moments of prosperity for some individuals and times of depression or recession for others. My main concern now is how can we generate more revenue during quantitative times? I can't afford to see my life savings of $200k crumble to dust.

[@robert-1miller]

Hence I will suggest you get yourself a professional that can provide you with entry and exit points on the securities you focus on.

[@Walter_hill_]

Very true! I've been able to scale from $650K to 1.2m in this red season because my FA figured out Defensive strategies to protect my portfolio and profit from this roller coaster market

[@Trevor_Morrow_LTD]

I really acknowledge your comment, i have been trading stocks for a while now but i have not been able to make much. how do you achieve this feat?

[@Walter_hill_]

Vivian Jean Wilhelm 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.

[@Trevor_Morrow_LTD]

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.

[@magicparkmemories]

My Uncle talked to me last week about the economy and he was 100 years old and he said we are in a depression. My Uncle served the Navy in the Pacific in WW2.He talked to me on July 13 and said our government lies . My Uncle passed away this week at age 100 on 7/22/24. Men today will never measure up to my Uncle. He had 11 children . He owned his own insurance firm. He lived in his house that he bought in 1958.

[@jvera6403]

-Very sorry for your family loss. 🙏

[@RP-nc5ev]

Real men...Rest in peace

[@karifredrikson-lr1mm]

@@magicparkmemories / You are right. There Won’t be Men like your Uncle again. Let’s just pray that the children of BB still retain their Father’s love of Country & the Men who are presently enlisted, can meet the Standard!

[@watchlover7750]

Rip

[@RebelMontana]

He right RIP uncle

[@Patriciabanks5]

The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?

[@phillogan1]

Just get a financial planner straight up! personally, I would invest in etf and also love investing in individual stocks. yes it’s riskier but I'm comfortable in my financial environment.

[@emiliabucks33]

I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m

[@carolpaige2]

Who is your advsor please? if you don't mind me asking

[@emiliabucks33]

Carol Vivian Constable is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment.

[@carolpaige2]

I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.

[@Thebankfisher]

The middle class is loosing jobs and the poor are refusing to work for unlivable wages.

[@colemant6845]

The poor are the Problem... Only because they have access to FREE MONEY from Biden and the DemoCraps. This will all change shortly.

[@Mark-pb8kj]

​@@justwondering147I agree. My wife and I make well over 120k a year combined. we're fucked right now.

[@midnight816]

@@Mark-pb8kjwhere do you live that you’re fucked making over 120k?

[@forsadeltoro8692]

same here in Turkey, it seems a global shit is coming or has already come

[@ColdPotato]

You are either rich and don't care, or poor and need the handouts.

[@michaelschiemer3]

Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid crisis, and even pull it off easily in a favourable economy. Unequivocally, the bubble/collapse is getting somebody somewhere rich.

[@Rachadrian]

I do not disagree, there are strategies that could be put in place for solid gains regardless of economy or market condition, but such execution are usually carried out by investment experts or advisors with experience since the 08' crash.

[@Dantursi1]

I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.

[@CindyValenti]

This is huge! think you can point me towards the direction of your advisor? been looking at advisory management myself.. seeking ways to invest and make more money with the uncertainty in the economy.

[@Dantursi1]

Annette Christine Conte is the licensed fiduciary I use. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment...

[@CindyValenti]

Thank you for this Pointer. It was easy to find your handler, She seems very proficient and flexible. I booked a call session with her.

[@kevinduveneck1504]

In 1992 Ross Perrot ran on the platform that our national debt was a problem and we needed to take steps to get it under control. He told people there would be pain in order to do it, and people didn't want to hear it. Yet, he did receive almost 20% of the vote from those who agreed the deficit was becoming a major issue.

[@reasonablespeculation3893]

National debt rising at the rate of $1,000,000,000,000.00 every 100 days

[@prolific1518]

32 years ago and there hasn't been a serious 3rd party candidate since.

[@natalliaf6387]

people forget he dropped out weeks before the election (given a offer he couldn't refuse)....only to come back after his ship had sailed

[@DH-oi4kr]

Ross Perot most famous quote was “ do you hear that giant sucking sound? That’s the sound of jobs being sucked out of the country “ that was in response to bill clintons NAFTA

[@prolific1518]

@@DH-oi4kr reagan-bush-clinton NAFTA

[@TC50730]

It's a global economic mess, caused by government and corporate greed.

[@ShaggyRodgers420]

The economy is better than ever for those of us with money and investments. And when Trump gets in and lowers Biden tax rates it will be even better. Poor people should be thankful that Biden is giving them handouts. When the MAN gets in that nonsense is going away. GET A JOB!

[@actualfacts1055]

Everyone has always been greedy, it's nothing new.

[@christinab2074]

Underrated comment

[@TheKwod]

​@@ShaggyRodgers420Trump will create jobs growth.

[@margaretbradley6693]

Nancy + Jerome should not be compensated for this economic disaster.

[@selenajack2036]

Crash fatigue is showing with most people. Most are so tired of hearing about the worse even though its true. We are being boiled slowly in the pot! I want to diversify my $80k portfolio.

[@kaylawood9053]

I completely agree. It's not just about the dividends or profits, Diversifying a portfolio can be a smart move and i always advise one gets a professional to help out.

[@roddywoods8130]

People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks.

[@bsetdays6784]

this is all new to me, How do I find a suitable fiduciary advisor, can you recommend any?

[@roddywoods8130]

My CFA ’Lauren Marie Ehlers’ , a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.

[@hushbash2989]

Thanks, I just googled Lauren and I'm really impressed with her credentials. I reached out to her since I need all the assistance I can get.

[@johnnydi2231]

I like that guy... He doesn't seem to be trying to spark fear and make everyone panic... Which of course just makes everything worse. Because a lot of this stuff is based on trust and confidence. Good guy! 👍🏻

[@malcolmlove4602]

Adam Taggart - Thoughtful Money

[@SunAtlantic-pg9vn]

Yes Adam Taggart - he is the man! Check out Thoughtful Money. He's one of those "I wish you'd run for President" kind of people. Glad Michael was able to get him on his channel.

[@johnlimpkin]

America's economy is a CONfidence game, the population believes and trusts in the people robbing them

[@Steven_Will]

Adam is not a catastrophizer no matter how many people try to push him into it

[@heavensangel3108]

Most especially God. 😇

[@cathychildress4735]

this is much worse than a recession

[@michaeld4566]

This is first and foremost a fitness channel. Walking and talking for 1.5 hours exhibits impressive cardio output.

[@TheGoreforce]

I wish more people took what he does, like imagine listening to your other peoples walking diverse places, in likely richer zip codes. I kinda wish this style took off, hell, it's the cheapest way too

[@riverraven7359]

Both of you are incredible economy broadcasters, its great to hear people discuss the situation in calm , sensible ways.

[@malcolmlove4602]

Michael, thank you for this powerhouse interview. You asked open ended questions that allowed Adam to free speak. You are really coming into your own as an informative KZbinr. Way to elevate your game! Much appreciated!

[@dallasstudent1605]

Agree!

[@petalumarob6835]

Great interview. I grew up in San Rafael and what Adam said about kids not being able to afford to stay in the communities they grew up in is spot on. That wasn’t normal until 25 years ago, but now it’s commonplace. That’s why so many 70 and 80+ year olds stay in their family home until they die. The neighborhoods are almost devoid of children and it’s not getting better.

[@Lisithedogwalker]

San Rafael is awesome!😍 We stayed in Peacock Gap last year!☺️ Thanks for watching!🙏❤🙏

[@colettespencer3357]

Yep....now parents need to buy multiple properties for their kids

[@hectorchomat]

Amazing the two of you together. I follow the two of you all the time. Never seen Adam walking after so many years.

[@keysautorepair6038]

It’s really bad now people better wake up.

[@sandrajohnson2832]

My Dad use to tell me when I was a kid that Houston is nothing but swamp land and one day it will be a swamp again😯

[@SamuelDLee]

I believe it

[@johnmay9699]

Did he see it in his dreams too?

[@ja3482]

I think the same thing about Las Vegas.

[@stevenevangelist5221]

subdivision swamps

[@sandrajohnson2832]

Not sure 🤔 if he dreamt of it but he knew a lot about land and property development .He also told me America would have only 2 classes of people one day only the rich and the very poor..🥲..🙏🏻He passed away 2 years ago .

[@ronnorris2934]

A recession is when your neighbor laid off, a depression is when your laid off

[@winstonsmith6204]

you're*

[@miked2802]

Ford. Stellanis, GM and Tesla are all dropping like a rock. Sales in the automotive industry are dropping like a rock, as well as pre owned and new home sales. IT HAS BUGUN!!!

[@QWERTY-hl6wm]

We young people can’t even afford these parking tickets 😂

[@thelonegerman2314]

WHITE MEN TELLING THE TRUTH

[@F44zz]

when you want 110k for a brand new truck thats not made to do actual work wtf do you expect..

[@chrispaul1117]

Buy a Toyota. They are doing fine

[@cchaffincc]

When the auto workers who build the vehicles can’t afford them, WTH?

[@nasanction]

I know this is a little unorthodox, but we went the way of prepping. We bought our 3/2 on an acre in 2010 (right after the last housing crash) cash purchase $32k. After over a decade of not having a mortgage, everything we have is paid in full. We even have our own power station. I think I'm trying to say that, there is more than one way to skin a deer.

[@1202-Alarm]

$32K ? Did you miss a digit? Sounds awfully cheap for 3/2 on an acre of land.

[@DIVISIONINCISION]

An acre of land is nothing. You should have bought 10-20 acres. That way you would have no neighbors close and enough land to grow whatever you want.

[@Joce123]

Excellent idea that people can still pull off.. Generally speaking they just need more information about how to be successful with solar power the other things like a septic tank is old hat

[@Joce123]

​@ROBERTDUCANIS I believe his numbers are correct. A couple of years ago I bought a 1 bedroom 1 bathroom house perfectly livable with a basement and a garage for $18,500 in a college town with an airport in Iowa..

[@nasanction]

@@1202-Alarm This is correct, by this time the banks were trying desperately to sell off bankruptcy homes to anyone who could buy them.We even talked them down an extra 2k from the 34k of there latest price drop. It's all in the timing. When this crash happens, there will be opportunity.

[@reaccionapuertorico]

90% of people are not ready financially and emotionally for what’s coming

[@grimaffiliations3671]

do you have a concrete date for when everything is supposed to implode? Or do you just like sounding like you know any more than the next guy?

[@rockpadstudios]

@@grimaffiliations3671 I think after the election

[@andrewgleason586]

The overspending is catching up....

[@12yearssober]

​@@grimaffiliations3671 Common sense is all one needs

[@reaccionapuertorico]

@@grimaffiliations3671 no one can time the market. Whoever tells you that is a liar but if you can see the lights flashing maybe prep a little bit.

[@user-ye1uz4cm2x]

They must have walked four or more miles to tape all that. That was the most beautiful walk that I have never been on! Your discussions gave me hope for the future.

[@joshhoodrat451]

A democracy cannot exist as a permanent form of government. It can only exist until the voters discover that they can vote themselves largesse from the public treasury. From that moment on, the majority always votes for the candidates promising the most benefits from the public treasury with the result that a democracy always collapses over loose fiscal policy, always followed by a dictatorship. The average age of the world's greatest civilizations has been 200 years. These nations have progressed through this sequence: From bondage to spiritual faith; From spiritual faith to great courage; From courage to liberty; From liberty to abundance; From abundance to selfishness; From selfishness to apathy; From apathy to dependence; From dependence back into bondage. - Alexander Fraser Tytler 1747-1813

[@ncscooterz]

That’s the cycle of civilizations I love it. I like to show people that as well and ask them, “so where are we now in the cycle? And then what’s coming next?” And then it doesn’t go over so well lol

[@solorsix]

The fate of empires by Glubb backs that up too.

[@pinschrunner]

That's why America is a Constitutional Republic, not a democracy. In a democracy, 2 wolves and a sheep can vote what's for dinner and mutton will always be on the menu

[@StuggleIsSurreal]

Please name a Communist or Socialist country that has lasted 240+ years; I'll wait.

[@StuggleIsSurreal]

@@ncscooterz Please name a Communist or Socialist country that has lasted 240+ years; I'll wait.

[@speedy-jay]

bought a 1000 sq ft trailer home in 2015 for 9k got 6 months lot rent free for doing so, then 500 a month after. same trailer today you need to take out a mortgage for 60k like it's a f@$%ing house. who can afford this crap. spent 150k the last 3 years living in a apartment that's falling apart. I remember when the 375k condos in town were going for 60k and wanted to buy a couple my dad told me the IRS would be all over me if I did so. this country has literally turned to trash. I remember growing up in the early 2000s and my mom could afford a house that's now worth half a million making $12 an hour as kids we didn't even know the word inflation, but these days even my 9-year-old son knows what it is.

[@marionalbergo1146]

Michael, I watch you nightly and think you are both kind and right to the point “helpful”. Adam Taggert is a modern day Walter Cronkite and Adam smith rolled into one. Thank you both for this insightful long walking chat/interview. It was above and beyond

[@dallasstudent1605]

Michael, thank you for all you do to try to inform the public. God bless you and your family!

[@michaelstarr1285]

Cheap energy is the first step in fixing the economy.

[@bpb5541]

Energy is a leading indicator. If Saudia Arabia is cutting oil production what does that mean? It means that the economy is slowing and they want to keep their prices up so they must cut supply. No need for as much energy if no one is buying anything.

[@billyjoesmo8251]

80 million barrels of oil every day 20 million tons of coal every day natural gas oil and coal are the cheapest energy we have

[@wrench3r]

Yeah it’s called oil and coal mining

[@mikeca98]

Only if Trump is elected.

[@miriamseidel8463]

How bout free energy? We've had it all this time, but anyone that tries to bring it to market gets pow powed.

[@biffgoody1235]

Mighty walk,and Mighty thoughtful talk.

[@MusicLover-ui9sm]

Lots of Rain 🌧️ today in Myrtle Beach South Carolina We are in a drought and really need rain badly. Going for walks and fresh air is mentally and physically healthy. Too much hate and too much greed is causing alarming rates of illness in the minds and bodies of millions of people. Create happiness and joy, Practice gratitude. We only have 1 life to enjoy 😊

[@jackmcgurnrecords310]

I'm taking your advice. I did get caught up in this mad political game that will suck the joy out of a person. 😎👍💯

[@HannaR2049]

So glad you did this another time this year! Love you both! Thank you for both of your channels, Michael and Adam! Makes me feel like I'm not alone during this stressful time. 🤗

[@desertcat8029]

Oh wow, a couple of my favorite youtubers! Love Taggart’s interview style on his own channel.

[@Resmith18SR]

Michael, Great to have Adam Taggart on your channel with his perspective on the current economic conditions. I think he's spot on about what's happening and that we're due for a real hard landing.

[@rachaelpino6914]

RVs are the ultimate toy that you don't need, until you're living in one. Check out how many people are living in them, and that'll give you a good indication of where the housing market is going.

[@josh-bodnar]

Some people choose RV life over a traditional home for the flexibility and adventure. Though, I’m sure there are people doing it out of necessity. I suppose it depends on their frame of mind.

[@timewa851]

know a couple, 70-ish. Sold their home. Paid down debt. Bought a truck. Lived in 5th wheel. Thought they'd buy or rent a double-wide. Found out they are all 500k+. Last I heard, the wife bought a newer roomier 5th wheel. Guess they have a monthly payment again. Husband said he thought they'd die in the 2017 model. lol. They are committed. No more building home equity now, year after year. Just the space rent . And the fuel bill for toting it to the campground & to another campground. I remember the wife's Mom. She gave them a waterfront place to live in. They borrowed against the equity & lost that place to foreclosure. Some people can't manage assets.

[@rachaelpino6914]

@@josh-bodnar well this channel talks a lot about living below your means, and living in an RV is one way you can do that. Although, even that's getting kind of expensive. But since I have moved into one, my housing costs have been cut in half but considering I live in an RV that I already own, and I literally just pay for a place to, it's still a lot considering I am disabled and live on social security and a little bit of income from part-time work.

[@jkeller2129]

We have been in our RV full time after selling our home in Austin at the peak. It can be incredibly inexpensive to live this lifestyle if you don't go to places people want to be. Talking $400 a month in East Texas for example. Being retired and living this far below our means definitely offsets the effects of inflation that many are feeling these days.

[@mohhingman]

When home owners are struggling they will sell their RVs. Those unable to crack into a house could get a good deal then by buying the RV to live in.

[@williamlankford5659]

The last factor for a recession is job lost. With the residential housing prices out of reach for most people, commercial space empty, the price of a vehicle now the price of a home years ago the loss of job is inevitable.

[@DIVISIONINCISION]

Can't go wrong with Adam Taggart. This could be a weekly collaboration, MIchael.

[@Lisithedogwalker]

❤❤❤

[@EvySurvived]

@@DIVISIONINCISION I think he is wishy washy take a stand

[@DIVISIONINCISION]

@@EvySurvived Taggart is superb. He's not a prognosticator.

[@HubertGeorge]

Made me irrationally happy to see Adam here. Had no idea you guys knew about each other.

[@BR-gz3cv]

If you’re rich- it’s the best economic boom in decades. That’s how America was designed- to enrich the wealthiest class of people, not the masses. So, the system is working as originally intended.

[@rickhites8127]

It was much worse in the 70's. I even had to work as a teen to help feed the family.Things got so bad that there were no jobs when I got out of school. Thankfully Honda came here and saved this part of the rust belt..

[@bpb5541]

What if we get a similar situtaion this go... but instead even more jobs will be lost to Ai. Which is why I would never go long any Ai stock. Morally I can't do it... even if it would make me money. That money would feel dirty to me. There are better ways.

[@patricia7792]

I couldn’t agree with you more! It lasted from the early seventies mid-eighties! Jobs work scarce to none. All over the US. Money was tight and inflation had sky rocketed. I learned to appreciate even the basic things that we had. That’s why I never get too comfortable. Never.

[@user-ms3ko5gn8e]

Being replaced by Ai & companies firing Americans to hire border crossers and getting tax incentives for it. Or outsourcing all together. Things will get really ugly if things continue we will be on our way to a 3rd world country.

[@NothingisasitseemsPodcast]

I think there was more hope then. Because if you managed to land a job, the job's pay so much better than they do now.

[@frederickmuhlbauer9477]

Depends on where you were I believe today is much worse for so many reasons

[@H2R5GSXR]

We agreed to downsize when we got old. Now we are old and never downsized and it appears we are now stuck in our house. Age 74 & 75 living in a 3 story 5 bedroom home, we never got that old feeling. Now pondering what to do as ranch homes cost a fortune. Our cost for 2023, Tax & Ins, gas, electricity, water, and trash was $ 1116 for the year. So at least it is affordable.

[@H2R5GSXR]

Correction To cost: $ 1116 Monthly.

[@DIVISIONINCISION]

Why didn't you sell decades ago?

[@loichamilton3341]

This was one of the best interviews last year. Its so beautiful where Adam lives. And i know that weather is perfect

[@definingecology6623]

This has been one of your most interesting videos to date

[@Juliet875]

Michael, thank you for having Adam on as a guest. I was hoping the two of you would hook up again in California. Love his channel too. He has great guests.

[@Prophezora]

Michael is married I don't think he is trying to hook up with Adam. 😂

[@karifredrikson-lr1mm]

Michael, I usually watch you 3 or 4 times to be able to absorb the information. That’s because I’m 75. It’s great info & it helps me to feel more “in control” to get as much info as I can. I have time on my Hands because I don’t have a TV. I don’t miss it,either. Much luck to you & your beautiful wife.Keep the info coming!

[@Lisithedogwalker]

Just read your comment to him! ☺️ We appreciate you sticking around with this one since it ended up being longer than his usual videos!🙏❤

[@wyatttilley7849]

Been living in this apartment for 2 years. Just got a letter from inspection charging us $50 more on rent because our apartment was not clean as they wanted it. Its been 2 years, never got anything like this before. Now they want extra money. Turns out, everyone else got the same red letter on their door from what I can see. This place sucks. A few months back, somebody left their trash outside by my apartment, for what reason I don't know. But I got a letter charging me $100 if I don't have it removed, and so did my neighbors. Anyone can sabotage you these days.

[@DIVISIONINCISION]

Buying a house will buy you more space but you still get trash from neighbors and their kids. Best option is to buy land, many acres so you don't have neighbors.

[@FraaaaaankRizzo]

@@DIVISIONINCISIONThis!

[@DIVISIONINCISION]

@@FraaaaaankRizzo Indeed, baby Frank. I purchased 10 acres in North Texas. I do have neighbors, but they are FAR away.

[@FraaaaaankRizzo]

@@DIVISIONINCISION This is my retirement goal. Acreage and a shop on property.

[@janicetone1624]

Great to see Mr. Taggart. I trust Michael more, now that I know you 2 are friends. Thank you once again for your honest observations.

[@KellyBoettcher-qo9tx]

This channel is a breath of fresh air!!!

[@Lisithedogwalker]

❤

[@Resmith18SR]

People who are doing well financially tend to confuse their personal individual finances with the health and performance of the overall economy. This same thing happened during the Great Depression and the GFC, there were many individuals who thought everything was great because for them personally it was great. The economic inequality in the U.S. and the entire world is growing rapidly and can and will lead to further social unrest and increasing crime and homicides.

[@brianking9446]

Agreed. Dangerous conversation pattern to delve into because invariably it turns to "why". Once the "why" begin getting answers, fualt can and will be assessed. Assessing "whom" with the "why" is how conflicts originate. Big conflicts.

[@Resmith18SR]

@@brianking9446 That's what America has now devolved into. Everyone is blaming and pointing fingers Republicans against Democrats, the polarization is what generally happens as a society collapses. The wheels are coming off right before our eyes in real time.

[@KimJimCastro]

I hope we all know that it doesn't matter who is in the 'top job' because this is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. My husband and I will be retiring in the next two years n another country. We are absolutely worried that SSI will no longer be funded if Trump wins. we'll have to rely on his pension, a 403 (b) and a very prolific lnvestment account with my Abby Joseph Cohen my FA.

[@RAKelBerquist]

I know this FA, Abby Joseph Cohen Services but only by her reputation of being a former employee at Goldman Sachs; even though she's now involved in managing portfolios and providing investmnt guidance to clients. I have been trying to get in contact since I watched her interview on WSJ last month

[@KimJimCastro]

​@@RAKelBerquist Well her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.

[@AliciaSalvadore]

Abby Joseph Cohen hooked me up with a late-stage fund that got me in on private shares of some hot companies before they hit the market or blew up. Those investments totally paid off when the companies went public and their stocks shot up. Now, I’m stoked because I’m heading into retirement with almost a million bucks in my portfolio.

[@AliciaSalvadore]

The thing is people often doubt the prospects of financial advisors like Abby Joseph Cohen in business/markets today. Well it gives me more time to get ahead while they stew in their own pity and doubts as they childishly complain about those spreading the word

[@RAKelBerquist]

​@@KimJimCastro Thank you for this tip. I just looked the name up, wrote to her through her webpage and booked a session..

[@makeyourlifeeasier5794]

Love the walk & talk format Michael, especially with a great guest in a beautiful location.

[@johngaveglia1892]

These shows blow away any other news media legacy outlets RIP learn from an honest non ideological point of view. God bless you guys 🙏

[@cristhomson9043]

Adam needs to be a regular on here. I in fact did learn a lot. Great episode.

[@timclark2925]

saw a stat where only 7% of Americans have $500 k or more for retirement; and as we all know $500k ain't what it used to be.

[@thevanman4498]

At least those 7% didn’t stop reaching knowing the first rule of economics. There will be inflation.

[@jimshoe402]

Nor is $1.1M HALF in 20 years Which I Knew..Take Care😁😁😁😁😁😁

[@jamiecrawford8133]

I have trouble believing 7% have that much, most people I know in their 50s and 60s have nowhere near that.

[@thevanman4498]

@@jamiecrawford8133 you’re hanging with the 93%.

[@jamiecrawford8133]

@@thevanman4498 81% of the US population age 25 to 64 has less then $5000 in retirement savings that number was pre COVID, I can't imagine things got better since then

[@joemartin8888]

I'm very thankful for having access to good conversations....Like eavesdropping on men of integrity.. Thanks you guys

[@hansschotterradler3772]

Adam without a jacket. I didn't think he could loosen up. Michael being cool as we know him😂

[@markfrancis5164]

Love it that you got Adam with you. I watch/listen to wealthion every week. Thank you from London UK. Great to see you walking the San Francisco Bay Trail opposite Sausalito.

[@chargermopar]

Two of my frequently viewed KZbinrs in one place again. Both looking fit and healthy as well! Michael you should walk with me when you are back in Miami, my hair is like yours it does not move no matter how much wind!

[@lisae357]

Great discussion guys-really enjoyed Adam Tagert. Thanks for having him on the show 👍

[@CarolPA]

The real inflation rate seems higher than they say, at least for stuff we really need like gas, food, etc.

[@class1188]

Its fact, not seemingly.

[@marsha58]

Like 50% plus

[@inflationsux]

They don't include oil and food in their inflation numbers due to their volatility. Gas is still cheap where I live inflation adjusted. People feel the strain and look at gas and food for price relief. Since rents almost never go down much. Population growth. Why all the allowed immigration after covid and worker shortage, wage growth? Wage stabilization that benefits the wealthy and not the workers. Controls inflation but wage growth should follow inflation. Companys trying to avoid profit compression by controlling labor costs through immigration? Wealthy trying to protect their wealth and mainstreet suffers.

[@goombazi]

Love that you had Adam on…he’s a great guest and his @thoughtfulmoney cast is awesome. Thank you

[@Lisithedogwalker]

Thank you for watching and supporting his channel!🙏 I just read your comment to Mike!❤

[@denisep.98]

Excellent discussion! Thanks for letting us listen in. 🏆

[@davidsee3553]

The big problem with the unemployment numbers is they are not accurate. People are losing their jobs, and they're falling back on side hustles like Doordash and Uber. A lot of these people are not smart enough to realize they're not making any money when they add in all their expenses. The majority of them would probably better off on unemployment. Not to mention the amount of people who are underemployed. I know a lot of people in the transportation industry and the oil industry who we're making six figures who can no longer find jobs. A lot of these guys are working stocking shelves or stringing together multiple part time jobs.

[@monicalee9659]

Not everyone can collect unemployment, some employers lie so they don't have to pay unemployment, and it depends on some other variables as to collecting unemployment.

[@solskengroupllp2758]

Adam's show is so great because he interviews every kind of economic person from every discipline and you learn a lot. He's also neutral and tells the truth. It is a great way to get a pulse on where we are economically; like eavesdropping on 100 different Wall St. guys talking between themselves at the bar after work. MUST HAVE INFORMATION TO BE IN THE KNOW!

[@patrickm6012]

He is talking out of his ass.

[@DreadDazeTV]

Excellent discussion that was .

[@steveborchers2080]

According to Danielle Demartino booth started October 2023

[@plica06]

Michael this was an excellent video. Adam is an excellent speaker and you an active listener. I hope you link in with Adam again before too long.

[@user-kq6sh8tg5f]

I remember when Bush was president and the gas went to $4 a gallon, the liberal media kept talking about how every 1 cent increase in gas would take a billion dollars of spending money out of the economy (on a daily basis). Remember when you know who became president and gas went from $2 a gallon to $5 a gallon? That sucked billions of dollars of spending power out of the economy.

[@coreyw1831]

Never had the chance to know that. But makes sense...thank you for the info.

[@coreyw1831]

​@@dissident112It's horrific for those who never had a fighting chance. We just get chewed up and spit out. When we get spit out, society is so sick of the homeless, sick or lost people that they spit on us even more. No help. No care. No support.

[@timmywitty1432]

Red / blue two wings same bird!

[@andreacalkins5189]

@@coreyw1831 What is it that you want? Parents have failed this generation and the one before it. I was born in the 50's, and I was raised to constantly be aware that if you don't work you don't eat. May not be the dream job, but at least you are working for something better. I could give a lecture all day long on this topic. Simply put, give a man a fish and he'll eat for the moment. Teach a man to fish and he'll eat for a lifetime. The homeless have lost that concept. If everything is free to them, why work?

[@OldLion64]

Remember when Clinton balanced the budget and then some. Good times! Then the frat boy got in and we went heavily into debt to the point where we were at the point of no return due to war after war and unnecessary tax cuts. Printing money has propped up the markets for 30 years but it is also going to be our demise. Inflation is unstoppable unless the economy crashes. Even then the deflation will be temporary.

[@TheKlaus3001]

Adam, what a great guest. Thanks for having him.

[@makeyourlifeeasier5794]

Adam's hair is thinning because there's so much activity in his head. He's truly a wealth of information. Great guest!

[@Chicago_Clout]

Italians lose hair young.

[@postscript5549]

I very much agree with A.T.'s perspective. I am truly quaking. I've been very worried for about five years. It is frightening to watch politicos and their masters hurt us.

[@MichiganDaisy-1111]

Being a prepper and prepping isn't for the end of the world doomsday crap. Us homesteaders AKA preppers do what we do because we want to be prepared during these kind of uncertain times. I think a lot of people get that confused. There's no shame in prepping for things to not be the same all the time. Because nothing good ever lasts.

[@wingwalker27]

Never hurts to be ready.

[@derickderidder7785]

Having that other person in your video is really good especially when they are informed and experienced like him. You can bounce of each others conversations. This is one of your best videos.

[@jeffjudymoler9386]

Great guest, enjoy listening to both of you multiple times each week. Keep up the good work and THANKS

[@MissTippiLu]

Don’t worry about your hair Adam…still breaking hearts and taking names. Good to see great minds together.

[@nikitachirich7985]

Nice video Mike, looks like your air is still clear down there , we have smog last 7 days Colorado . Adam mentioned something that was of great precipice for things to come . We already have complete consumer exhaustion and if we keep inflating rate after every crash like it’s just happened 2009-2020 with rates we will completely exhaust the aggregate inflation rate in 10 years max. There is the Harvard&KPMG study 71 that reflects that number very closely .

[@MichaelBordenaro]

Thanks! Sorry to hear about that air quality, that is always a bummer. Hoping it will stay clear here. Yes Adam is a smart dude, and I believe he made some excellent points in this video, including consumer exhaustion. Not sure how much longer this can go on, but my guess is not too much more.

[@Mike_Phoutrides1611]

Adam is great, thanks for having him on again!

[@Find_Amelia_Island]

My 2 fav guys together!!! Its an info dream come true!!

[@charlenewilliford6957]

Thanks to your guest. Helpful information as always

[@martingainty9623]

As someone is deathly afraid of what will happen in November will decimate valuations of my real-estate and decimate my retirement ..this discussion was VERY useful in order ro plan how to safeguard assets and safeguard Retirement...thanks Michael! (and Adam)

[@Imjusttryingtotellu]

Out of curiosity would home sales stay fairly high per the shortage of affordable homes and housing in general?

[@mackakiwinz4353]

Adam is a awesome guy. Thankyou both great discussion.

[@thomasperina2990]

Hello Michael: Thank you for this video. I loved your special guest. I loved how his economic views is a mirror of yours. God Bless & syY safe. TMP from N.J.

[@JasonRatzlaff]

That's awesome you got Adam on a walk with you!

[@Vicos]

The Fed needs to take rates higher to beat inflation. They won't because theyre scared and the gov cant afford to pay the interest on the massive debt.

[@roguedolphin]

BINGO! We have a winner.

[@marsha58]

They need to halt the printers. 80% of 💵 in circulation now was printed in the last 3 years

[@DD-ld1xq]

They are the cause of inflation.

[@roguedolphin]

@@marsha58 First STEP: Cut all the ridiculous non-productive government spending by 50% immediately. Just like Argentina did.

[@eclairtreo]

Amen, well said.

[@Bentleyyoyo]

Legendary combo, I love both of your channels

[@dougshoaf]

Thank you Adam and Michael, Great educational walk and talk.

[@daddyv7403]

This guy is smart, easy to listen to, very knowledgeable. Great interview. Great scenery! Awesome job!

[@Osriv2007]

I recently visited little Tokyo near downtown LA ( next to Chinatown ) on my 2 week vacation and I was shocked to find out that more than 45% to 55% of all the small businesses locally were completely shuttered in comparison to the time when I visited the U.S. on my vacation back in 2019 ( before the pandemic )

[@genxx2724]

Have you visited the tiny little Tokyo in West Los Angeles, on Sawtelle?

[@BasedDad]

A mega walk and a mega talk. Excellent analysis of the economy on a macro level. Thank you!

[@angieribas7312]

Great collaboration guys! Thank you 😊

[@timr31908]

We went in the depression when the stock market's crashed in 1929.. things started to get better by 1937... And then 1939 we went to total s*** again.. just as bad as when it crashed in 29.. we entered world war II and that's what brought us out of the depression .. the New deal didn't do anything.. as a matter of fact we're still paying for the bad ethics of the New deal to this day

[@grimaffiliations3671]

How did we go from a depression with low tax revenues straight into a costly world war? Almost as if the government has its own money and doesn't need taxes

[@jerrydwyer9057]

The depression would have been much shorter without gov intervention.

[@MrSteeDoo]

The war spending was the New Deal on STEROIDS.

[@nicklll4477]

Ross Perot also predicted the ills of The New Deal and he also said that back then since he ran for president in late 1992 it would take 2 generations to attain a good standard of living. Now it would take 12 generations (his prediction). I'm willing to bet it will now take 30 generations to get a good standard of living.

[@AlphaJ369]

We crashed in 1919 too, then had the roaring 20's. We are at the end of Roaring 20's 2.0 right now!

[@Ghost-rr7xh]

Fantastic episode, learnt a lot. Thankyou for interviewing Adam

[@lovechangesus]

Oh, I love Adam.... his channel is the BEST. so is yours, Michael ❤

[@Lisithedogwalker]

❤❤❤

[@immasher2139]

OMG, this is an EXCELLENT video!! I have heard a lot of the issues before, but Adam? man, he so explained the issues that have now convinced me to : WAIT, WAIT, WAIT!

[@HisCoconutGun]

Hah love seeing Adam taking a walk with you. He seems like such a genuine guy.

[@Cashflowsavage]

Adam is one of my favorite people in this space

[@Organic_In_telligence]

What’s different this time is that government is now willing to print infinite money and that was not the case in all previous recessions on that chart.

[@frederickmuhlbauer9477]

The printing will end very badly