Why The New GDP Report Should Concern You

[@Susanhartman.]

People try to predict the economy not realizing it is not a capitalistic market, its a command economy, central planning! my concern is, instead of having much dollar in bank that could lose value to inflation, do I save in gold to reserve and grow wealth for now, or just hang on?

[@Grace.milburn]

truth is that gold serves as an inflation hedge in the long run, but not profitable in the short run. only thing you can predict is a strong effort of wealth transfer from the people to the powerful. luckily some folks find solution in financial advisors

[@ThomasChai05]

Inflation is gradually going to become part of us and due to that fact any money you keep in cash or in a low-interest account declines in value each year. Investing is the only way to make your money grow and unless you have an exceptionally high income, investing is the only way most people will ever have enough money to retire.

[@mikegarvey17]

In fact, I had no prior experience or understanding when I began investing in 2020, but by the end of 2023, I had made a profit of almost $850k. All I had been doing was going by what my financial advisor had told me. This demonstrates that all you truly need is a professional to assist you; you don't even need to be a great investor or put in a lot of work.

[@mariaguerrero08]

@@mikegarvey17How can i get started when it comes to investing and passive income?

[@mariaguerrero08]

@@mikegarvey17How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances.

[@Big-Daddy-96]

The difference between conspiracy and reality these days is about 6-12 months

[@anthonyjames4319]

Great line.

[@strategicactionservices2206]

True story!

[@tightwadtv3421]

If an accurate jobs report came out, it would be the first time in decades.

[@obrienortega6942]

I believe we're already in a recession. Many companies missed earnings, people getting laid off left and right, inflation spiking, need I continue? Folks, it's going to get ugly. I tell people, get out of bad debt, save and invest, etc. Any family trips you have planned, cancel it. This financial tsunami that is brewing is going to wipe a lot of people. I wish everybody my blessings and be safe.

[@antoniokimble5286]

He's basically saying if you don't have your **** together like you do, cancel big ticket spending and prepare. You are the few and not the many so enjoy your investments and that family vacation. Most people right now are drowning in debt yet trying to further bury themselves in debt doing vacations. That's bassackwards thinking. I just paid off my student loan debt in September and am building my war chest. I'll take a vacation next if things get better.

[@MeltingRubberZ28]

@@antoniokimble5286 keep up the good work!

[@ELDTAdventures-tp9jy]

Some are already in the so-called "Silent Depression" well on their way to permanent homelessness . . .

[@boston312]

people are still spending for lavish weddings and having kids. These will be the first people who will fall.

[@rh-bd6wv]

Three kinds of lies. Lies, damn lies, and statistics. Mark Twain

[@michaelhand9769]

we should always be ready, life happens and when it does, it sucks. The question is how ready? It seems 3-6 months income helps but in a recession, that is 1-2 years of hard times

[@enthused7591]

2-3 years typically, and the math this time is worse than what happened pre-2008 to 2010.

[@anthonyjames4319]

I’m not sure what you said makes sense.

[@model3forever91]

The numbers are always under reported. Also the Fed is measuring PCE which doesn't account for food, energy cost, and rent.

[@MrSteeDoo]

The Fed measures everything. There is not just one indicator.

[@jermainemyrn19]

They only reference one and they take things out to skew the numbers ​@@MrSteeDoo

[@model3forever91]

@@MrSteeDoo they do. But it what they take into consideration to gauge the inflation. If they say they're only using PCE, then they're not looking at food, housing/rent, and energy. Look up creditable threat for the Feds

[@MrSteeDoo]

@@model3forever91 The inflation measure that the Fed uses for action does not include the volatile food and energy prices. Fed actions are designed to operate in the long term. It would be foolish to include short term volatile pricing when considering long term actions. No one is deceiving you.

[@ronblauvelt7457]

Food, shelter and energy have been elevated for 3 yrs… what is “short term” lol

[@joelmartinez2278]

Politicians telling the truth????......GTF outta here!!!!!

[@ericolens3]

they do tell the truth. like a broken clock being right twice a day even a po LIE tician, also tells the truth twice a day.

[@JohnBowl14690]

@@ericolens3 - I'd say they tell the truth about 2/3rds of the time. Just enough to get the sheep to believe their important lies. They tell the truth on what they want you to believe, then lie when they are trying to cover up their agenda.

[@tscoff]

The unemployment numbers that are reported are inaccurate anyway. They’re the count of the people collecting unemployment benefits. They are NOT the count of the people who aren’t working. I was unemployed for several months about 7 or 8 years ago and I was not counted in the official unemployment count because I didn’t collect unemployment benefits. Even so, I’ve learned that any initial report of anything in the news is inaccurate. I always wait a couple of weeks or months to learn the truth. Our news organizations rush to publish anything as quickly as possible and that results in inaccurate news reporting.

[@MrSteeDoo]

Nonsense. You have no idea how the UE is figured. How do you KNOW that you were not counted?

[@tachikaze222]

@@MrSteeDoo Initial claims is just that. Initial claims. And it was weirdly 212k for several weeks earlier this year.

[@dee-kryvenko]

When someone says “I don’t want to be political here” - are you telling you don’t want to be medical during a doctor visit? You don’t want to be a foodie visiting a restaurant? Where did this apathy came from? Why be political or talking political is so stigmatized today? Can’t you see this is exactly how we ended up in this mess?

[@solo1014]

Its not a conspiracy, its self interest. Theyre cooking the books so they can claim everything is fine. Then when things dont go their way, open uo the spillways.

[@Paul-ou1rx]

The day after someone else becomes President. "The unemployment numbers have skyrocketed!!!! Armageddon is NOW!!!"

[@jasondjjcm1658]

"I'm not a conspiracy theorists, but" might be the most interesting beginning to a video I've ever heard

[@ThatBinghamHikes]

It’s funny because we could all say that

[@Noah_527]

Whenever says “I’m not …., but” it usually means they are

[@rigidbeast6447]

Then he goes on to explain how he has worked in politics and how easy it is to fudge numbers therefore creating a conspiracy theory about these numbers.

[@WasFakestCenturyAesthetics]

"I always assume that the elites are acting in good faith for the good of the people, to the point of irrationality and denial, but..."

[@meglukes]

I want to start videos like that randomly. “I’m not a conspiracy theorist, but here’s how to crochet a sock”

[@javaskull88]

The values are the same week after week because some intern copied values rather than formulas in a spreadsheet.

[@mdimascio]

The incentive to cook numbers exists for every administration, both sides, always. This is a starting point and a reality check. While we all like to think there is less corruption among the HUMAN BEINGS on our side's politicians compared to the other side, this cannot be a base assumption. Why would a cooker repeat the exact same number, unless they enjoy raising suspicion?

[@HighCountryRambler]

Why would the sitting president who's falling behind in his reelection year continuously repeat the same lie about how he inherited 9% inflation from past President, despite every media outlet correcting him each time by stating Trump actually handed him 1.4% inflation, and continues with the same lie? I'm a independent, my only side is this country, which is rapidly going down the drain.

[@1HeatWalk]

The worst thing about stagflation is people will continue to spend less and there will be less jobs needed to produce. It's a vicious cycle that will continue to get worse. Just look at the Japan's economy of a long history of stagflation.

[@alexlowe2054]

It's ironic. I've been spending the last few years studying and learning about economic cycles. Looking at the data is incredibly scary. Intelligent people should definitely be delaying spending and stashing away money for the inevitable. The real irony, is that reducing spending is a reduction in GDP. The very things we should be doing in this uncertain economic situation is the very thing that's going to cause an even bigger recession.

[@brianoleson5785]

havent you figured out by now this recession is going to have a + crisis with it this period dwarfs anything outside the great recession and great depression giving way this this downturn to be called a great something

[@jacksonmeyers1698]

I thought Ken was unbiased but this unemployment nonsense has been going on for the last 12 months, especially with downward revisions. If mainstream financial media is reporting this they can no longer ignore it. Come on Ken give the average some truthful and timely reporting!!!

[@ninjagirl226]

My experience from 2 years ago is that CT denied my attempt to claim unemployment after I was laid off. It was a standard mass layoff. I wasn’t at fault. But I was denied along with several of my coworkers. Taught me that these numbers are bunk.

[@JM21999]

Election season so yeah they are cooking the books

[@SpoonHurler]

With no seasoning

[@thewewguy8t88]

Okay so what do you think we should be doing to avoid those kinds of situations. That being said I am pretty sure it was predicated we would be in the middle of recession by the middle of 2023 which never happened. So I feel like it's not all doom and gloom as I feel like a bit of a difference with 2008 finical criss and now is people are more aware of the situation and can take steps to avoid it. Where as in 2008 it was not as In your face that would happen.

[@janetleblanc4016]

We have been in a recession for a couple of years. Biden's administration changed the definition, so they can claim we are not in a recession. We are heading into a depression.

[@jacobstrouble6631]

I like the advice of stacking cash. Don't buy anything.

[@Viconius]

All fine and good until the government revalues the dollar, that whole digital thing. Good luck for the following 10+ years finding a deal after that event.

[@zaurenstoates7306]

Record low unemployment but everywhere is short staffed, makes sense to me 👌

[@henrytep8884]

That should make alot of sense. Low unemployment means less people to hire as a labor pool. If people are getting jobs not in the food industry, there would be a short staff. Also the boomers are retiring, so their exit from the labor pool is being replaced by a smaller generation, that’s going to naturally create more demand for labor.

[@MKNAOMIII]

"3% which is what i got" People with low rates always find a way to bring that up and rub it in.

[@anthonyjames4319]

2.5% for me!

[@warren3665]

2.8 for me

[@denisenielsen6890]

How is a Ramsey personality allowed to have a mortgage haha just saying

[@anthonyjames4319]

@@denisenielsen6890 fair point…?

[@MichelleLyn84]

Seriously lol it’s like how my coworker finds reasons to talk about her freakin credit score every week lmao 🤣 there are always those people that brag nonstop about anything whenever they find a chance.

[@vladimirofsvalbard9477]

It's not a conspiracy; the job market is worse than 2008. The only people getting by are largely people in a medical profession, policing/fire, or contractors for state contracts/infrastructure. If you're in retail, gig, warehousing, or even anything CDL; things are rough.

[@scrappyny7432]

And Im just sitting here rolling my eyes tellin people "I told you so!"

[@HighCountryRambler]

Exactly what I was thinking. We were lied to about the origins of COVID, and it's vax, and the Russia, Russia hoax, and the Hunter Biden laptop, and the Ukraine hoax, and the secret docs hoax. These have all been proven lies. Now after 3 years of high inflation, record debt, 2 new wars and crime filled cities- "But look over here, "steady high employment", see your lives are perfect....

[@BLaw707]

Our unemployment system numbers appear as reliable as our election system numbers.

[@LifeBeautifulMess]

Except if your party wins then everything must be right? ROFLMAO. Your party thanks you for your servitude.

[@tracy419]

And yet when in court, they have a completely different argument than the claims they made at rallies and on social media 🤔 Kinda makes you go STFU maga😂

[@MrSteeDoo]

butthurt MAGA ^^

[@helenaquin1797]

​@LifeBeautifulMess Even when the other losing party's appointed judges - also - determined there was no sh*t going on. "Thank you for your servitude" Culty much?

[@mattm9961]

Only betas would be led by a guy with dimensia that showers with his 10 year old daughter... Wierdos

[@summerwind4590]

I got laid off along with another 400+ people this past month, I don’t spend on the stuff you are talking about. This is the management class putting a fork in us so we can never rebel against their plans

[@022100bmlotus]

Self employed 40 years...... Im working 1/3 of what I did 2016-2020. I DO NOT FILE FOR UNEMPLOYEMENT.

[@Shinehead3]

Please discuss whether the interest rates on commercial real estate loans are up !!! Please discuss, if there is such a thing as a Fixed Rate Commercial Real Estate Loan !!! Side Hustles are such a Favorite Reference for those that don't have steady recurrent revenue streams 😢 When the Costs of Business Loans increase, those Businesses attempt to pass those costs onto their customer base. So what Entity sets Interest Rates ? 🤔 Hint it's not Joe Biden or Soon to be Elected Donald Trump ...

[@TheUnknownSpartan]

Just throwing this out there, but might the unemployment numbers be so low because of the rise of gig work like Uber and DoorDash and things like that? Makes the situation a lot more challenging when people start relying on those services for their income

[@MWebb-de9pq]

We've been saying this. The Ramsey team denies this reality and has failed to prepare its viewers. Now people will be unprepared.

[@Mitzi73]

Stay ready so you don’t have to get ready.

[@Sonicmask]

Ok ti

[@cesarbarrera9207]

That is what i have been saying look around you , not what you have been told

[@javaskull88]

I wish they would report the number of Americans working full time - that would be useful to know.

[@clintjensen7814]

The economy needs to slow down a bit, it's been running HOT for many years so we need to calm it down and let prices correct. People are spending like they're filthy rich when clearly they are not.

[@ben_riley2]

Love this content from you!

[@Goodiebar18]

I’ve been saying this shit isn’t going to end well for a long time and people keep looking at me like I’m nuts lol

[@MrSteeDoo]

Not necessarily nuts but definitely low IQ.

[@eljefe4473]

Kinda surprised papa Dave would allow him to speak so truthfully. Next thing he will be saying it’s not the time to buy a house

[@MichelleLyn84]

LMAO 🤣

[@JohnBowl14690]

Well Rambsey has been right about buying. The housing market actually went up quite a bit since ramsey said that. Finally, prices are now starting to come down a little bit.

[@exceedinglyaverage1179]

Waaaaayyyy ahead of you Ken! I’ve been concerned for the last 4 years 😂

[@skolvikings354]

You Are Spot On !!!! I / we are listening. Open a CD at 5+ percent.

[@getinthespace7715]

Is someone cooking the books... Yes. They changed things, so they count part-time jobs the same as full-time jobs. If you look at the state of the Economy: -Commercial real-estate defaults -Corporate debt maturing and interest rates will double. -Unrealized losses of banks for bad bond investments -Consumer debt at all time high. -Consumer savings near all time lows. GDP has been decreasing for 3 straight quarters. Get your finances in order. I bet we are at market peak right now. If the next GDP report comes in less than 1% things are going to get sporty.

[@superman9772]

the s & p p/e ratio is at 25... dude, that's a crazy number... what that says to me is to expect a good crash sometime soon... we've been in an old fashion "carter style" stagflation for awhile but the government won't admit to it ... time to safeguard your dinero

[@eplugplay8409]

We been prepared for the past 8 years. As millennials we paid off our mortgage 2 years ago, saved 3 year worth of emergency fund earning 4.5%, 0 Debt of any kind, max out 401k and Roth IRAs, fund 2 kids 529s monthly and even funded an extra taxable account and saving up more cash per month. We are ready.

[@MWebb-de9pq]

You think you are ready. Wait until they convert everything to their FEDcoin. You may have it but won't be able to access it, and it will also expire.

[@eplugplay8409]

@@MWebb-de9pq ​​⁠yea we are ready. If fed coin or whatever comes it will be convertible from the cash we have no problem. Also diversified in many different assets and a high income we are ok also jobs diversified in software engineering in automation and my wife as a PA in the medical industry.

[@Nsx234]

Cooking books... They have a completely Separate set of books!!! The TRUE ECONOMIC NUMBERS ARE THERE!!!

[@fremontpathfinder8463]

The country is so big and the variety of jobs whether union or not is vast. Some jobs are more secure than others.

[@christians131]

“Be fearful when others are greedy and to be greedy only when others are fearful.” - Warren Buffett

[@Viconius]

They also aren't identifying the number of folks that have more than 1 job and how many are underemployed. Consumer spending has increased BUT it's due to the increased cost per purchase; all while individual credit debt is skyrocketing.

[@tachikaze222]

looking at the numbers I wouldn't say consumer credit is skyrocketing, just returning to the long-term 2014-2020 trend. Currently $4k per adult, up from $2.4K in 2014 and $3.3K just before the 'vid hit.

[@travissteadman5435]

You know it's going to be a good video when it starts out, "I'm not a conspiracy theorist, but..."

[@rc3884]

Thank you for talking about it.

[@rc3884]

I just shared your video with all my family and close friends. Just as a precaution.

[@parranoya100]

They throttle the results for the election.

[@quizstreet9052]

They probably need a good old fashioned audit. 🙃

[@jessn6974]

Interesting. Thanks for the info!

[@SeanEustace-zk3mc]

The currency is going to collapse anyway it doesn’t matter what you spend

[@2007albright]

I have 2.99% mortgage and will never sell at this point.

[@fremontpathfinder8463]

The unemployment stats have never been accurate. It has always been this way. They need to update the way unemployment is counted

[@jamesbyerly766]

I need new conspiracies!!! All mine has come true!!

[@StephenMoreira]

First 16 seconds I'm like: "I'm not a conspiracy theorist" Is exactly what a conspiracy theorist would say.

[@oahuguy3918]

So when was the Ramsey ever into predicting the future? This is new territory

[@s.mas.w]

That’s not the ONLY statistic the Government is fudging 🙄🙄🙄🙄🙄

[@Oilman6969]

It won’t give until the government stops spending like drunk sailors

[@lesterscrough9762]

Did you bother to check the Dept of Labor's Unemployment Insurance Weekly Claims Report? The number of initial claims vary each week. Are you bs'ing us?

[@yoda6051]

Stack cash before major, prolonged inflation? You sure about that?

[@skypatrol716]

If they deny you benefits they don't have to count you.

[@ayoobsaleem3821]

Put Bert Dohmein on the show .he will show you how the goverment lies about everything

[@daveassanowicz186]

Us little people at the bottom have been aware of this for quite some time

[@WilliamMartin-r3s]

Finally someone acknowledges the government is cooking the books. Hiring has frozen in most states ism services and manufacturing has contracted and layoffs going up. Government is pulling a Walter White and cooking the books.

[@dcvlogs82d69]

What’s wrong with CNBC?!

[@pnwflipper2089]

It’s liberally biased- but Ken isn’t saying anything is wrong with CNBC- he is saying that if CNBC, a liberal news network is questioning the validity of the Biden Admin’s data then there might be something up.

[@parler8698]

Fake numbers.

[@heatherdunham4562]

Everywhere you go employees are working on a skeleton crew. So frustrating.

[@jayrome8245]

my church Saddleback Church announced layoffs - something is going on!!!

[@kimberlylepine5115]

This isn't a conspiracy theory. Anyone with a basic understanding of statistics can understand that this is not a coincidence. It's a case of beginning the math with the end in mind.

[@022100bmlotus]

Did Erin Burnett report it?

[@fsm12385]

Conspiracy theory's have gained lots of ground leading to truth

[@newtec-kd6vy]

Who is getting a big bump in pay?????

[@MrSteeDoo]

Me.

[@paulmokidespaul5347]

Good financial advisor !!!!

[@jaywalk6628]

Layoffs are happening all over the place, of course unemployment is not static.

[@enthused7591]

They're terrified of starting the inevitable housing crash. It's going to happen one way or another, but it's wild that they're cooking the numbers. Unemployment will absolutely hit double digits in the next few years. 2008 will look mild by comparison. A 20-year-old needs to make $80,000 a year to afford the average 3-bedroom fixer upper in the US AND still be able to afford homeowner's insurance, utilities and groceries. 5 years ago, we were ALREADY at new all-time high home valuations, and you could easily afford a 3-bedroom fixer upper making $50,000. We have two housing bubbles stacked on top of each other with ZERO shortage of housing or home building labor/materials.

[@MeltingRubberZ28]

Housing crash will NOT happen in the next decade.

[@momomama2510]

There will be no housing “crash”. Trillions of dollars are ready to get in if it falls 30%. Unemployment will be very bad and poverty/homelessness will rise while the people with cash won’t budge. This is not like 2008. A lot of people made a lot of money since 2008 and are waiting.

[@pnwflipper2089]

Why would a 20 year old need to buy a 3 bedroom house?

[@bobslate7231]

Watch what happens after November all of sudden unemployment going to skyrocket.

[@marvinwalker6045]

Great Content

[@cle_roknn3742]

This is an estimate, nothing more, nothing less. Inflation is at 3% that’s not “rampant” that’s higher than normal, just like intrest rates are not “skyrocketing” they are just normal. We have lived the last decade in artificial reality. Low interest rates, lower unemployment, government subsidies to prop up the economy. Unemployment is low as measured by historical standards, but we live in a changing employment landscape, it undercounts certain aspects and over estimates others. We need to correct what and how we count employment. We also need to understand underemployment and income distribution within the economy. The word “but” is the most important word in this entire segment, your argument turns from one of skepticism to flat out conspiracy theory while you try to justify your argument…

[@drumdad1242]

Rich people don't usually go to jail.

[@Nisa-gm5wg]

P Diddy…🤔

[@bearpurther]

if unemployment rises, then inflation will most likely fall

[@marsha58]

They quietly revise the numbers a few days later so no one notices.

[@infinteuniverse]

Stagflation has only one remedy, higher interest rates. We might have to go up to 10% in 2025.

[@timothyshaw8948]

People that don't like conspiracy theories are always late to the party.

[@miraclechow7611]

😂 Good teaching !

[@MarkJohnson-zf7jj]

I listened for a minute but I'm not fond of being talked to like you're talking to a four year old. Byeee...

[@EricTheDane]

Um, this does actually make you a conspiracy theorist. "I don't know, looks funny, up to you to decide" is exactly what a conspiracy theorist would say. Honestly, if someone WAS cooking the books at this level, they would be smart enough to vary the report from week to week BECAUSE of people like you. Since it's the same, I'm more likely to believe it. (After all, you did say it was up to us to decide.)

[@Juangalt]

If they were cooking the books they would do a better job. Probably either a mistake or a coincidence.

[@paulmorris9650]

A conspiracy theorist is just a person that ahead of the curve.

[@LifeBeautifulMess]

OMG, When I saw this was a Ramsey production I knew we were in for a bunch of half baked bull. Funny how numbers are great when you party are in control but bull when not, yet the numbers are collected the same regardless.

[@rickyspeakman4445]

The initial jobless claims have been in the 200000 to 250000 for the last six months

[@andoverwarren6392]

You do not subscribe to conspiracy theories, but you give them life. Rewatch your video. One or two facts repeated over and over, and some ideas and “theories” even though you don’t call them that.

[@HarryPotterFan1307]

Anybody bragging about a 3% mortgage can do bleep themselves. Next time I’ll be sure to be born 15 years earlier and not in poverty so I can have one too. 3% mortgages have broken the system and this guy is bragging about it like “look how smart I was to take cheap money.” No duh. Everybody who was in position did the same thing. Nothing special here.

[@zachdarr7605]

It’s because they…… are probably not telling the truth??? 🤷🏻‍♂️

[@butchthurman4685]

The same way 7 people win the lottery then 4 then 1.

[@jeffreyoliver1031]

"I wonder if someone might be cooking the books"....how about DUH!

[@IsaacLHarrison]

Only a conspiracy theorist would say they are not a conspiracy theorist 😂

[@TheRealTommyBear33]

i know a bunch of people who quit and get new jobs constantly lol. dude millions of changes I doubt the numbers are manipulated. only people i know who dont work are people who eitehr are to lazy or think they should get paid more than the jobs offer so they dont take the jobs. 200k? what is that not even .1 percent of 200 million workers? just saying. In my area I can only judge by what I see and what I see is people who work and and dont spend have money and people who dont do not.

[@mrtuber3491]

It doesn’t matter who you vote for because they’re all paid and bought for by the same organisations and lobbies.