In this episode of Money Mondays, we talk about how the economy is in a recession and what to do in times of a recession. We also talk about why we are in one and why we should be worried about it.
00:17:00.000But look at it from a scale of what's happened with the job market itself, and of course, cars and real estate.
00:17:04.000If you notice real estate is at all-time high, our rates are also high as well.
00:17:08.000Also, the car market is fucked because new cars, average prices are between over 50k, which is insane by the way.
00:17:15.000And that's never been done before or never been heard before.
00:17:17.000So the car market itself is in shambles because right now people are trying to get out of their cars and they can't.
00:17:23.000Imagine you bought a car, 23, 24, or 22 actually, and you bought the car at a high, and now you want to sell it, but you're already negative equity in the car.
00:17:33.000Let's say you bought a car for, I don't know, 40, 50k, and you want to sell it, it's only worth like 20k now, 30k.
00:17:39.000So you lost a bunch of money up front, of course, for depreciation.
00:18:14.000So if I stay stayed in corporate America, continuing to work there, I'd be fired about last year, and that would have been it.
00:18:22.000So this is why I say we're in a recession.
00:18:25.000Also, keep in mind, I was told some information from some people pretty high up there.
00:18:30.000Obviously, I don't want to say names, but they spoke about how things are coming down the pipeline, and funny enough, they're investing into crypto, gold and silver because that's where the money's at.
00:18:40.000And also, it's funny about the dollar itself, the dollar itself lost pretty much all its value.
00:18:44.000But if you notice, they want to do a reset.
00:18:47.000I mean basically they want to change the debt from um physical paper, which is the dollar, into crypto and write it off.
00:18:55.000Pretty much that's that's what they want to do.
00:18:57.000Um, and it's actually happening in front of our eyes.
00:18:59.000However, this is where I say, guys, um, this economy itself is in shambles.
00:19:04.000I'm gonna show you a video real quick that kind of illustrates this in real time because they'll hear they'll take it from me, just saying it.
00:19:11.000Look at everyone else living life in America and the American dream.
00:19:38.000I got laid off from my corporate job yesterday, and I think that this is the reality for a lot of Americans right now, and it needs to be shared because America is not doing well right now.
00:19:47.000We have a 94% prediction rate that the recession is gonna come, but yet our freaking administration hasn't even made the move to actually say that a recession's now.
00:19:58.000This has been going on for quite some time.
00:20:00.000Um, I was told some shit behind the scenes too as well.
00:20:03.000I went to France, you guys know I went to France.
00:20:05.000Uh, there was a room of people, pretty uh successful, high up there.
00:20:09.000Uh some were in AI, some were in tech, some were in um other industries, and they were all laughing, having a good old time, talking about what's coming next.
00:20:19.000And one of the guys mentioned that they're not buying animal real estate, they're gonna buy gold and silver and bitcoin.
00:20:28.000So I'm gonna follow this because this guy, he's a fucking billionaire.
00:20:31.000I'm gonna go ahead and buy a lot more silver.
00:20:33.000I got a bunch of silver uh in my crib as well.
00:20:35.000I'll show you guys last time on my other stream.
00:20:37.000Uh gold, I didn't get too much of that because it's a little bit higher on that price scale.
00:20:41.000I could get some more gold, but I didn't, I didn't at the time.
00:20:44.000And then of course, Bitcoin, as you guys know, Charlie Mikkel tell us to get Bitcoin Ethereum because that's where the money's at for crypto.
00:20:50.000But of course, um, they also mentioned that the economy's gonna be in a recession.
00:20:54.000This was like months ago, guys, when I was in France.
00:20:57.000So, you guys know I sold some cars, I sold a lot of my stuff as well.
00:21:32.000And let's actually call it what it is a depression.
00:21:34.000People can't afford groceries, they can't afford rent, they can't afford buying houses, they can't afford having babies, they can't afford having the kids in general if they already have them.
00:21:42.000Yo, shout out to my nigga in the chat ridiculous, man.
00:21:56.000So Douglas is in it in the chat, living the life, bought a Corvette, cash, got us, got his got gold on point, and he's a big supporter show.
00:22:06.000Shout out to him, and Don Temerco for him.
00:22:48.000But also, she is also calling a machine.
00:22:52.000And when I say this is because if they decide, you know what?
00:22:56.000We can cut corners here, save money here, uh, welcome in AI, uh, cough cough, you're gone.
00:23:02.000And just so you guys understand what's happening here, there's actually a chart, and there's a study going on of the total job loss this year alone, and it's over 1.2 million job losses this year, and the year is not even ended.
00:23:58.000Actually, some people have already um gotten furlough pretty much, and they're getting paid now, but they don't understand what's gonna happen next.
00:24:06.000When you get your job back, no, they're gonna give you an email and they can tell you goodbye because guys, understand what's happening here.
00:24:16.000You may say, Okay, fresh, bro, I'm fine.
00:24:18.000The problem is is you know you may not feel it yet, but people are feeling it right now, and it starts at the bottom, but goes all the way to the top.
00:24:26.000It could even be anarchy, could people be in a set, people saying, you know what, I lost my job, I'm gonna loot and steal, which I don't actually prove that.
00:24:33.000But the point is that like it'll affect you in one way or another.
00:24:36.000Now, the layoffs are happening at an all-time high, and you know the worst part, the year hasn't even even ended yet.
00:25:47.000Oh man, they said to me, Listen, my boy, you need to start from ground zero, and I did Chick-fil-A is my was my first job with ATT to get phone calls, then I did insurance, and then I was applying non-stop on job indeed, um, monster.com.
00:26:06.000I got a call back from you guys know Wix.com, shout out to them, and got the job.
00:26:11.000But even with all my stuff, accolades all stuff, what was my position?
00:26:15.000Entry level, because again, you gotta work for your stripes and pretty much figure out from there.
00:26:22.000Um, I've been holding back my power level for a lot.
00:26:25.000I've been holding back because I always believed in showing less and doing more, but now I feel like a burden to help you guys because I know what's coming next.
00:26:36.000I can't say everything on camera because I'll be in trouble, but I've been warned months ago, you get you guys see me, man.
00:26:43.000Not so much the big chains anymore, you know, simple stuff, and I've been really focused on being mobile and having multiple passports, being able to have access and also network like crazy because I met a guy yesterday, he dropped 100k at this club called Kiki on the river, nigga, 100k.
00:27:06.000Yeah, I got time, And I was like, okay, put it into per and into like perspective.
00:27:13.000People are losing their jobs, hella debt, no income, but he can drop 100K at a table like it's nothing.
00:27:34.000I took some shots with a nigga, and the funny part is that he was broke a couple years ago.
00:27:40.000He was going through a bad breakup a couple years ago.
00:27:43.000He watched a podcast, got it back on track, and he's a multimillionaire now.
00:27:48.000Um about to get married, which I give him my blessings, but you know, I told him to be very careful because obviously you know getting married nowadays is never easy.
00:27:56.000And I told him that you know we appreciate him supporting the show.
00:28:22.000And you know the scary part about middle class is that that's where most people want to be.
00:28:27.000You know, you you get a good job, you buy BMW, you might get like every now and then a couple trips a year, three trips a year, you go shopping with family, whatever you're gonna buy, you can buy.
00:28:37.000However, there's a lot of things that people don't see that I learned myself as well, and wealth is kind of like a uh yeah, it's kind of like an actual like thing where if you don't study it constantly and try to prove on it constantly, you end up becoming like a um a slow dying, like you know, um what's what's the word?
00:28:57.000You you you end up running like on treadmill, but you don't understand your stand on a level is continually going down, you're like, oh, this is fine, this fine until you fall off the treadmill.
00:29:07.000That's the same thing, same thing with your financial aid um status because you can start off pretty good, get middle class, but then you plateau.
00:29:16.000And this is why I say, man, like it's unfair because people have advantages, but here's the good part.
00:29:22.000If you focus on becoming better, learning more about finance, how you can make more money, uh, learn about AI, the system right here will applaud you and help you.
00:29:31.000But if you just sit there and say, Oh, whoa's me, I got this shit, I'll be fine, bro.
00:29:36.000What's coming next, fellas, is gonna be scary.
00:29:38.000Actually, we did a show on The Five Podcast with Gary and Dom, and I brought up a video what's happening in China, right?
00:29:52.000So if you don't do what they say, pretty much it can lower your score, and then at that point, once it's super lowered and you can't have any points anymore, you're gonna be homeless.
00:30:56.000But the thing is is that it was not something that I saw coming because the day before that they laid me off, I was literally talking coverage plans with another.
00:31:03.000Do you remember when we did a podcast Money Monday talking about how to budget?
00:31:07.000Uh you should have at least six months to a year in savings.
00:31:12.000It's because it happens to you guys where you get laid off your job.
00:32:23.000So guys, I'm telling you, man, if you got a job right now, fellas, keep your job.
00:32:27.000Stocks are bred up because the market right now is cooked.
00:32:31.000Employee who was going on leave for like months.
00:32:34.000How am I supposed to sit there and not think that I'm safe in that moment?
00:32:38.000I just think it's absolutely ridiculous that we live in a world like this where like my manager wasn't even the one that fired me, by the way, or laid me off.
00:32:54.000Mem okay, remember you go to your well, if you worked a corporate job, right?
00:32:57.000Maybe HR department in the corner, whatever, just watching everybody like fucking, you know, with the evil eye, you're like, what the fuck, bro?
00:34:21.000I'm gonna stay here and work later hours.
00:34:23.000I'm gonna stay here over time because I know anything, my goals are to buy property, I'll leave here as fast as possible.
00:34:29.000I mean, they they didn't know that, but I knew that for myself, and that's why I say, hey, corporate American man, do your job, be cool with people at work, but understand they're not your friends at all.
00:34:42.000And this is the reality for a lot of Americans right now.
00:34:45.000My partner is a first responder, so I'm very lucky for the fact that I can be leaning on him for support right now because luckily his job is secure, thanks to the fact that number one, his job is essential, and number two, he has a union behind him.
00:34:57.000What I will never understand is why corporate agencies have not unionized.
00:35:07.000This is a company, uh, I don't know if I can say the company name.
00:35:11.000There's a company out there that actually went behind the union, and there's clauses in contracts where you can actually go behind the union and still get fired.
00:35:21.000So they can't save you all the time, fellas.
00:35:30.000We'll get fired because at least in this corporate world, they're always gonna sign on the side of business because that's what's making the government money.
00:35:36.000This world right now is not supporting people, it is supporting business.
00:36:27.000But unfortunately, for um people applying, they're gonna have to get an email that says says to them, hey, you were not selected for this job.
00:36:36.000But she's sent out 3,000, sorry, 2,199 emails saying, hey, you didn't get this job.
00:36:43.000That's scary because if anyone here is wondering, okay, uh, I have a job, I'm secure, no, you're not.
00:36:53.000If you actually focus on what's happening with the marketplace of AI, pretty soon we're gonna have options where we can actually, I want to say, do a whole show with AI alone.
00:37:56.000Because you can see nowadays, fellas, tech is one of the biggest ones to lay off and very fast lay off too as well.
00:38:01.000Uh, Microsoft, Amazon, um, you name it, they're laying off by the dozens, sorry, by the thousands.
00:38:06.000Uh, we got as well, ZF, Frederick Shaffin.
00:38:10.000All these companies here are laying off.
00:38:12.000Spirit Airlines, uh, well, I mean, to be fair, Spirit Alliance have trouble from before, so that's probably why, but either way, PWC is laying off as well, Starbucks laying off, uh, Ford, BHP.
00:38:26.000When this video is done, fellas, I'm gonna give you uh at the end of it, five things you can do to help prepare yourself because this is actually serious, fellas.
00:38:34.000Like, all jokes aside, you may hate me, whatever, you may hate uh fresh and fit, whatever.
00:38:39.000If you're hearing this my voice right now, there's a shift coming where it's gonna be a massive reset.
00:38:44.000And if you're not on the right side of it, you're gonna be left behind.
00:38:47.000Listen, fellas, if all else fails, and I need to figure out a way out of here, I'm mobile.
00:38:51.000I got passports, I can go to Barbados, go to Dubai, I could go somewhere else and chill.
00:40:42.000And fellas, if you if if you're unemployed right now, I'm telling you right now, bro, they are giving you unemployment if you're using unemployment.
00:40:57.000That is the slowest rate since the global pandemic.
00:41:01.000And you'll remember during the pandemic, more and more companies were putting people on furloughs, and nobody was hiring because of that magic word, uncertainty.
00:41:11.000And right now I'm hearing the word uncertainty a lot from executives.
00:41:15.000Uncertainty about global wars, uncertainty about tariffs, just uncertainty about the future.
00:41:21.000We're also continuing to see companies become extremely profitable, like Meta, Microsoft.
00:41:28.000So one thing about tech guys that people don't understand is that they are built on optimizing for investors, right?
00:41:34.000And that means they could care less about employees, you as the customer, you're just another number to them.
00:41:41.000So the main goal is to make sure the investors that put money into company are getting paid back dividends or highest amount possible.
00:41:49.000Which means at any point in time, if you become a hindrance to their mission, you're gone.
00:41:56.000Which is why tech companies are so fast and fiery, because for them it's like, okay, if I get rid of Jack, Susie, and Mary, I can just bring in this machine or this like land of code to do it for me.
00:42:08.000And they save money, they don't pay insurance for the airbots, they don't pay um, you know, sick leave.
00:42:15.000It just works for them non-stop on the clock.
00:42:17.000And as an employer, if you were to if you're doing the same thing, you would do the same thing too.
00:43:18.000Uh, people were saying for uh uh a while that they were buying a lot of properties to I guess do a massive like shift for the culture.
00:43:27.000And the funny part is that like they're still buying things today, property, different investments, obviously to please their share shareholders because that's what's important.
00:43:37.000They're buying things that are necessities, which is real estate, actual um businesses that help economy like electricity, um, they're buying as well um data centers because they understand what's happening next.
00:43:51.000Basically, they're they're gonna invest into like AI.
00:43:54.000Remember, AI has to be powered by a lot of um data centers.
00:43:58.000If it gets too hot in there, things don't work, they don't break down.
00:44:01.000So this is why I say all the time, man, you gotta have foresight because if you can see what's happening in the future, you can predict and move accordingly to benefit um for yourself and your family.
00:44:12.000And again, this is why I'm saying, guys, right now we're in a recession.
00:44:16.000They won't say it on the news because oh, it's gonna be bad for people.
00:44:19.000But so you guys have an upper hand, get into um looking at savings for yourself, emergency fund, and of course, make sure that you have no debt.
00:44:32.000So having a list here of things that you can do to maneuver.
00:44:35.000Obviously, there's more I can share with you guys, and we will pretty soon, but I'll give you the list uh real quick, and we'll come back to this.
00:44:42.000So, number one, you want to have six to twelve months of savings lined up.
00:44:48.000I mean, hopefully you'd be doing that from before.
00:44:51.000Uh things do happen though, um, where you might have to use your use of your money for emergency, things do happen, so that's fine, but you can't build it back up.
00:44:58.000Now, number two, pay off all bad debt.
00:45:10.000Um but again, this is where I say, like, no one knows or has crystal ball pretty much, right?
00:45:14.000So things happen, no perfect, but you need to pay off all your debt.
00:45:18.000That's gonna keep you uh focused, keep your mind right.
00:45:21.000And when you're in debt, fellas, you get maybe you're not paying your debt off, you get calls about paying your debt, you get letters in the mail.
00:46:12.000So anything over 3% is good because obviously that beat inflation for a little bit.
00:46:17.000But again, you can need to pay off your debt and make sure you have money for emergencies because this is fine and dandy, fellas, but you need to have a cushion because things are hard right now.
00:46:28.000I don't care who you are, millionaire.
00:46:30.000I got friends that billionaires worried about this shit.
00:46:32.000And if they're worried, fellas, we need to be worried too because they they're building bunkers.
00:46:36.000Remember, I said in the stream, you're building bunkers underneath their the cribs, you're building like um these like hidden tunnel pieces because they understand what's happening, what's coming next.
00:46:44.000Also, keep in mind if you look at it from the standpoint of how to make money as well.
00:46:48.000When you have less things, you are able to be mobile, and you don't have certain responsibilities, you can do more.
00:46:55.000So I think having less is more as well, but understand what's happening next.
00:46:59.000And of course, guys, that itself is tough.
00:47:57.000Which is why I say if you're in trouble, if you have like an issue at work, or maybe you have like an issue at maybe like your business, you need help.
00:48:09.000So this is why I say networking, man is essential.
00:48:11.000And look, let's say, for example, you're in an industry where you know things go bad, but your friends at different industries that can help you move over to that industry.
00:51:43.000I should I should take money for it, but I don't, which is why I made a single network because we had mass massive value in there, and of course, meetups, of course, and of course, um, trips.
00:52:03.000And then we're gonna do uh a stream at the hours on Wednesday, and I'm gonna be in LA on Thursday, and then we're gonna go to Vegas on the Friday for complex convoy academics.
00:54:01.000When they get when they get, oh yeah, we're we're hiring, we're gonna bring people back to work.
00:54:05.000They get an email saying just leave, they're gonna be very surprised because I got some information on the inside that's telling me that this people are cooked, fellas.
00:56:15.000But that took me years of many people make connections, building trust, relationships, which is why when I say someone's terrible or someone's a bad person, because I know them intimately in a way that I see their piece of shit.