Everything is going to be fine. All these jobs advertised are minimum pay jobs. After taxes not enough to buy fuel to commute. Truckers offered lower rates than costs. CPI is 8% but my living expenses up 60%. yoy. Sold my high end house in IL at $156/sqft but in AZ $hit houses are $250++++/sqft. Everything is going to be fine
These elite Economists, don’t take into account that there is no “ middle class” anymore……minimum wage has killed jobs… politics have destroyed life in the USA….politicians have divided the people with their Plandemic and Vaxxed policy….. here, in California, you can’t afford a loaf of bread, ( $5 – $6)….Milk: ($4-$5)…. most people are leaving, because of the politics….⁉️⁉️
Recession won't be felt until mass layoffs start occurring. Layoffs occurring now but are relatively small and there are still lots of jobs available. In 2000/2008, the economy fell apart when people start losing jobs en masse, leading to a snowball effect. We need to start seeing big firms laying off thousands and hitting the headlines. When 96% of people are employed and there are millions of job vacancies, it'll only be a recession on paper.
I'm just curious, why not tax corporations/CEOs their fair share. We consistently receive reports showing these parties making record profits and not being taxed at all. Capitalism is good and all but not when its crony capitalism. It's like the gilded age all over again.
Consumer debt is at an all time high. Americans are spending big after two years of being locked down because of Covid 19. Once they have maxed out their credit cards and can no longer borrow money our Country’s economy is coming to a sudden stop. Debt free living is the only hope for individuals financial security.
No idea how do I plan lack of money enough. My sister which I don't see in years lives in Dominican Republic if I can not help myself how could help her? I think that the only thing I can do again is selling the few that I have and be homeless again ..at least my kids are all grown ..am not afraid to be without nothing.. Is funny how the rich always have everything.. where is the middle class and the ones who are less than that are the ones who move the country..not the rich people because if we all leave..all those rich would not sustain the whole country .well it is what it is..
Mark Zandi is a shill for the banks and Wall Street. He is not an economist he is more like the PR man for Wall Street. He is trying to keep the panic at a predictable level.
I don't think most of us Americans have that much money put away Michael. If we did, we could cover a 1000 dollar emergency. I think the wealthiest Americans is what this applies to on average. The demand for housing in most areas: I think people are underestimating ability of American workers to now work where they desire in terms of the housing markets. Except for the Federal government and probably most local governments, many workers are now being given the ability to work from anywhere, This is why Florida, Texas, Arizona, and Nevada are seeing the demand they are. Plus, the pandemic has made many realize mortality more. This pushed many in 2020 and 2021 into retirement and into buying that retirement property before they were gobbled up. People want to live now the best they can. The pandemic changed the working dynamic. I see a push now to try to restrain the telework craze because it impacts business that depended on workers coming into the cities. People are also getting out of the cities for affordable states like Tenn., Kentucky, Montana etc. NY had a mass exit, mostly to Florida. Mist people miss the markets, they jump in to sell to late. Just like with stocks now, in my opinion. The market is down so people want to sell. Depending on your situation I believe this is the time to buy the best stocks. They all are on sale!! Buy low, sale high!! Good food for thought Michael. Because of housing strength, the temporary nature of the supply issues, and the way the war is going, and the abundance of jobs, my hope is that we don't see much of a recession.
The elitists need to turn to US manufacturing plants because they can foretell the future (6-12 months in advance). US manufacturing is receiving less orders, and more requests for cancellation of orders in Q3 and Q4. When this happens something wicked this way comes. Yes a recession is coming, there is no doubt and it will be very apparent in 2023. I read that almost 5M job postings were cancelled. We still have job openings, but the majority of the openings are for entry level, and tier one positions. My prediction is that job openings will drop to 1M jobs in Q3, 2023. There will be part-time Christmas help in Q3, but let's face it, that doesn't pay the bills.
Michael I see the same signs as you. You are correct, but I don’t think we will have a recession or at worst a mild one. My only reason is the strength of consumer spending. An example, over Memorial weekend the Jersey shore was packed with people for the weekend. People ignored the cost of petrol and the cost to stay at motels for a nice weekend. It happens this way till after labour day. The old theory that people rely on credit cards just doesn’t cut it. Yes I could be wrong. I hope I am not.
Artificially low interest rates created this ridiculous housing crisis, and a lot of inflation. The job numbers and gdp are strong, especially on a global scale. The stock market is down, but not crashing and a lot of experts are predicting it’s at its low. This will be a longer slow recession, but it’s hard to imagine a crash. Also, investment properties are going to hit the market which should help lower cost of homes in certain markets. The FC process is different in every state, and mortgage companies are using a lot of tools to modify loans and help homeowners stay in homes compared to 2008-09. Things don’t appear to be as bad as it looked a few months ago, but it all depends on inflation and how high rates go.
there is just no way 2.6 trillion from common folk's savings until now. if anything they should have spent them already. 3 600 dollars check isn't going to last for over 2 months, I still remember, out of all the money given out, only accounts for about 1/5 of actual spending, the rest went to loans for business and stupid gender and climate studies, fed rack up 10 trillion in the past year or so, you think those debts are for you? no way, whatever build back better crap that Brandon is vomiting out, only less than 1/4 is for infrastructure, the rest are just money for their corporation doner. if I help an elder lady to borrow 20k on her credit card, pay her 1800 buck, then took the rest as a fund to "invest in her future", the FBI will be on my door very soon, but if Brandon does that, nothing happens.
Miami life is doing you well as evidenced by your high-quality camera which captures your youthful handsome self! As always, I appreciate your insightful take on the market!
I'm traveling but lm also living in a multifamily home with my 2 daughters and their families and this has given us all more $$. We are deciding to live while we can because l do believe the great reset is on its way. So we are pooling our resources.
Another thing is. I think the fed is waiting to see what's going to happen after the midterm elections. If the Republicans retake everything I'd be willing to bet Powell pulls the rug to make them look like it was their fault
I think a lot of these rosey predictions are to keep people from all out panicking. The whole "nothing to see here" while they are loading their own life boats to jump off the sinking ship.
You better believe it….we are already in a rescission You have Biden to thank for this, this is the worst shit show in history, thanks to his deliberate demolition of this country
Having multiple streams of inverstment is the best thing that can happen to anyone, especially with the impending recession. While researching the st0ck market, I came across an article where an inverstor makes over $99k monthly, and I would appreciate any tips on how I can build my portfoli00 to produce such profits.
Some history and some facts. The unemployment rate is the lowest it’s ever been. There is a shortage of 3.8 million homes needed to meet current demand. Many businesses are stuffed with excess cash, and corporate earnings are very strong. How often has a recession happened with a mix of factors like these? NEVER. While anything is possible, recession is very unlikely.
Bro you said it perfectly. I cannot add anything to what you said because I agree with you 100%. Let me just say this. The Feds said inflation was transitory. Then the Feds said that 10 yield inversion was not an indicator of a recession this time. Now the Feds is saying the that the recession is going to be mild. So on that track record what do you think I am going to say. This will be a severe recession. I don't want this to happen but I would say it is very probably. Powell should have raised interest rates in August 2021.
Great video Michael, always look forward to your new content, as far as a recession I feel we may have a mild one. Remember the fed is trying to do a balancing act and their 2 mandates are maximum employment and about a 2% inflation rate. But they are going to have to give in on the employment side for awile, better to have 5% unemployment than 8% inflation that affects a lot more people. You mention raising interest rates faster and steeper but look back to the 80's and Volcker and see why that is not the right way to go. Can they have a so called soft landing ,not sure but were all along for the ride,
Even Fannie Mae is calling for a recession https://youtu.be/M03lw5xCUiw
I am calling for a ‘Great Depression’!
Everything is going to be fine. All these jobs advertised are minimum pay jobs. After taxes not enough to buy fuel to commute. Truckers offered lower rates than costs. CPI is 8% but my living expenses up 60%. yoy. Sold my high end house in IL at $156/sqft but in AZ $hit houses are $250++++/sqft. Everything is going to be fine
These elite Economists, don’t take into account that there is no “ middle class” anymore……minimum wage has killed jobs… politics have destroyed life in the USA….politicians have divided the people with their Plandemic and Vaxxed policy….. here, in California, you can’t afford a loaf of bread, ( $5 – $6)….Milk: ($4-$5)…. most people are leaving, because of the politics….⁉️⁉️
Recession won't be felt until mass layoffs start occurring. Layoffs occurring now but are relatively small and there are still lots of jobs available. In 2000/2008, the economy fell apart when people start losing jobs en masse, leading to a snowball effect. We need to start seeing big firms laying off thousands and hitting the headlines. When 96% of people are employed and there are millions of job vacancies, it'll only be a recession on paper.
I'm just curious, why not tax corporations/CEOs their fair share. We consistently receive reports showing these parties making record profits and not being taxed at all. Capitalism is good and all but not when its crony capitalism. It's like the gilded age all over again.
Zabdi is just trying to prevent an all out panic.
Consumer debt is at an all time high. Americans are spending big after two years of being locked down because of Covid 19. Once they have maxed out their credit cards and can no longer borrow money our Country’s economy is coming to a sudden stop. Debt free living is the only hope for individuals financial security.
Yes they are hiring but I cannot survive with 10 the hour or working for 2 people with the pay of one
No idea how do I plan lack of money enough. My sister which I don't see in years lives in Dominican Republic if I can not help myself how could help her? I think that the only thing I can do again is selling the few that I have and be homeless again ..at least my kids are all grown ..am not afraid to be without nothing.. Is funny how the rich always have everything.. where is the middle class and the ones who are less than that are the ones who move the country..not the rich people because if we all leave..all those rich would not sustain the whole country
.well it is what it is..
The Fed is running the show exactly the way they've planned it.
Economist versus crystal ball….what's the difference?
You got me interested in real estate after the Florida vids bro ur channel is great
Mark Zandi is a shill for the banks and Wall Street. He is not an economist he is more like the PR man for Wall Street. He is trying to keep the panic at a predictable level.
I don't think most of us Americans have that much money put away Michael. If we did, we could cover a 1000 dollar emergency. I think the wealthiest Americans is what this applies to on average. The demand for housing in most areas: I think people are underestimating ability of American workers to now work where they desire in terms of the housing markets. Except for the Federal government and probably most local governments, many workers are now being given the ability to work from anywhere, This is why Florida, Texas, Arizona, and Nevada are seeing the demand they are. Plus, the pandemic has made many realize mortality more. This pushed many in 2020 and 2021 into retirement and into buying that retirement property before they were gobbled up. People want to live now the best they can. The pandemic changed the working dynamic. I see a push now to try to restrain the telework craze because it impacts business that depended on workers coming into the cities. People are also getting out of the cities for affordable states like Tenn., Kentucky, Montana etc. NY had a mass exit, mostly to Florida. Mist people miss the markets, they jump in to sell to late. Just like with stocks now, in my opinion. The market is down so people want to sell. Depending on your situation I believe this is the time to buy the best stocks. They all are on sale!! Buy low, sale high!! Good food for thought Michael. Because of housing strength, the temporary nature of the supply issues, and the way the war is going, and the abundance of jobs, my hope is that we don't see much of a recession.
The elitists need to turn to US manufacturing plants because they can foretell the future (6-12 months in advance). US manufacturing is receiving less orders, and more requests for cancellation of orders in Q3 and Q4. When this happens something wicked this way comes. Yes a recession is coming, there is no doubt and it will be very apparent in 2023. I read that almost 5M job postings were cancelled. We still have job openings, but the majority of the openings are for entry level, and tier one positions. My prediction is that job openings will drop to 1M jobs in Q3, 2023. There will be part-time Christmas help in Q3, but let's face it, that doesn't pay the bills.
Love the content! One of the most honest YouTubers 👌🏼 appreciate your hard work 🙏🏼 I’m a buyer and been waiting for a adjustment in the market
Thank you for sharing your video.
The people saying that make over 6 figures salary they don’t care about the people
Michael I see the same signs as you. You are correct, but I don’t think we will have a recession or at worst a mild one. My only reason is the strength of consumer spending. An example, over Memorial weekend the Jersey shore was packed with people for the weekend. People ignored the cost of petrol and the cost to stay at motels for a nice weekend. It happens this way till after labour day.
The old theory that people rely on credit cards just doesn’t cut it. Yes I could be wrong. I hope I am not.
Artificially low interest rates created this ridiculous housing crisis, and a lot of inflation. The job numbers and gdp are strong, especially on a global scale. The stock market is down, but not crashing and a lot of experts are predicting it’s at its low. This will be a longer slow recession, but it’s hard to imagine a crash. Also, investment properties are going to hit the market which should help lower cost of homes in certain markets. The FC process is different in every state, and mortgage companies are using a lot of tools to modify loans and help homeowners stay in homes compared to 2008-09. Things don’t appear to be as bad as it looked a few months ago, but it all depends on inflation and how high rates go.
The Bull Is Falling!
there is just no way 2.6 trillion from common folk's savings until now. if anything they should have spent them already. 3 600 dollars check isn't going to last for over 2 months, I still remember, out of all the money given out, only accounts for about 1/5 of actual spending, the rest went to loans for business and stupid gender and climate studies, fed rack up 10 trillion in the past year or so, you think those debts are for you? no way, whatever build back better crap that Brandon is vomiting out, only less than 1/4 is for infrastructure, the rest are just money for their corporation doner. if I help an elder lady to borrow 20k on her credit card, pay her 1800 buck, then took the rest as a fund to "invest in her future", the FBI will be on my door very soon, but if Brandon does that, nothing happens.
Everything is up gas, oil, food, water electric, a regular person will soon not be able to afford a home 🏠.
Miami life is doing you well as evidenced by your high-quality camera which captures your youthful handsome self! As always, I appreciate your insightful take on the market!
Him: “insurance if you live in Florida”
laughs while hiding pain
I'm traveling but lm also living in a multifamily home with my 2 daughters and their families and this has given us all more $$. We are deciding to live while we can because l do believe the great reset is on its way. So we are pooling our resources.
I agree that there won't be a severe recession. But it's hard to say really.
Another thing is. I think the fed is waiting to see what's going to happen after the midterm elections. If the Republicans retake everything I'd be willing to bet Powell pulls the rug to make them look like it was their fault
I think a lot of these rosey predictions are to keep people from all out panicking. The whole "nothing to see here" while they are loading their own life boats to jump off the sinking ship.
My household is already in recession. I only buy what I need right now.
I’m making more money this year than I have in my life. Yet I am by far the most in credit card debt I have ever been and I have no savings!
The friends of mine who have savings live with their parents at 30-40 years old.
You better believe it….we are already in a rescission
You have Biden to thank for this, this is the worst shit show in history, thanks to his deliberate demolition of this country
Having multiple streams of inverstment is the best thing that can happen to anyone, especially with the impending recession. While researching the st0ck market, I came across an article where an inverstor makes over $99k monthly, and I would appreciate any tips on how I can build my portfoli00 to produce such profits.
Great topic.
Massive disaster is on the way!! Lawd!
Some history and some facts. The unemployment rate is the lowest it’s ever been. There is a shortage of 3.8 million homes needed to meet current demand. Many businesses are stuffed with excess cash, and corporate earnings are very strong. How often has a recession happened with a mix of factors like these? NEVER. While anything is possible, recession is very unlikely.
Bro you said it perfectly. I cannot add anything to what you said because I agree with you 100%. Let me just say this. The Feds said inflation was transitory. Then the Feds said that 10 yield inversion was not an indicator of a recession this time. Now the Feds is saying the that the recession is going to be mild. So on that track record what do you think I am going to say. This will be a severe recession. I don't want this to happen but I would say it is very probably. Powell should have raised interest rates in August 2021.
Michael! I so just noticed the tags still on that Straight Cab! How long ya had it? Just picked my les Paul up from the shop and doin a Vid this week
Great video Michael, always look forward to your new content, as far as a recession I feel we may have a mild one. Remember the fed is trying to do a balancing act and their 2 mandates are maximum employment and about a 2% inflation rate. But they are going to have to give in on the employment side for awile, better to have 5% unemployment than 8% inflation that affects a lot more people. You mention raising interest rates faster and steeper but look back to the 80's and Volcker and see why that is not the right way to go. Can they have a so called soft landing ,not sure but were all along for the ride,