Published: 2023-09-27
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Predictions from this Video
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Prediction
Topic
Status
Conflicting predictions for the US economy in 2024: government/Fed expect a boom, while investors with cash anticipate a deeper recession.
"if you went out and asked somebody is the United States economy going to Boom or crash in 2024 the answer you would get would depend on who you ask if you ask the United States government or the Federal Reserve Bank they would tell you that the United States economy is set to Boom in 2024 but if you ask the same question to an investor who's sitting on cash right now they would say that the economy is going to go down into a deeper recession in 2024."
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Divergent predictions on mortgage rates: realtors/mortgage officers expect them to fall quickly, while real estate investors predict they will continue to rise, leading to falling real estate prices.
"if you went out and you asked Realtors or mortgage officers what's going to come in the housing market they will always tell you that mortgage rates are set to fall very quickly but if you ask the real estate investor who's sitting on cash who's looking for opportunities that same question they're going to tell you that mortgage rates are going to keep Rising which is going to cause real estate prices to fall"
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Historically, 11 out of 14 Federal Reserve rate hiking cycles have resulted in a recession.
"over the last 14 rate hiking cycles that the Federal Reserve Bank has done made in the last 14 times that the Federal Reserve Bank has worked increased interest rates 11 of those times have led to a recession"
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US has reached a record high in credit card debt.
"we have just broken a new record for credit card debt historical credit card debt ever in the United States"
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By mid-2024, American consumers are projected to have exhausted their credit capacity if current spending trends continue.
"by the middle part of 2024 this credit is also expected to be tapped Out assuming that Americans continue to spend money at the current trajectory that they're at today"
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Potential for future increases in Federal Reserve interest rates.
"there is a good chance that there could be even higher interest rates in the future"
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2023 is presented as a year to focus on financial literacy and saving cash in preparation for future economic opportunities, rather than financing new purchases.
"2023 is not the year for you to go out and finance a new truck 2023 is the year for you to get financially smart that way you understand what's happening but also that way you have some cash not only to protect you but to be able to capitalize and opportunities that might be coming your way"
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The US economy is predicted to boom in 2024 by the US government and Federal Reserve Bank.
"the United States economy is set to Boom in 2024"
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An investor's perspective suggests the US economy will enter a deeper recession in 2024.
"the economy is going to go down into a deeper recession in 2024."
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Realtors and mortgage officers predict a rapid decrease in mortgage rates.
"mortgage rates are set to fall very quickly"
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Real estate investors anticipating rising mortgage rates predict a fall in real estate prices.
"mortgage rates are going to keep Rising which is going to cause real estate prices to fall"
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CPI inflation reached a peak of just over 9% in June 2022.
"in June 2022 CPI inflation topped out at just over nine percent"
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Inflation hit a low of 3% in June 2023.
"it bottomed out in June 2023 at three percent"
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Inflation increased to 3.2% in July and 3.7% in August of 2023.
"inflation rise to 3.2 percent in July and then up to 3.7 percent in August of 2023"
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The Federal Reserve started increasing interest rates in March 2022.
"the Federal Reserve Bank began raising interest rates in March of 2022"
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The Federal Reserve has been rapidly increasing interest rates, at a pace not seen in over 40 years.
"the Federal Reserve Bank aggressively raised interest rates as some of the fastest rates that we have seen in more than four decades"
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The speed of the Federal Reserve's recent interest rate hikes mirrors that of 1981.
"the last time that we have seen the Federal Reserve Bank raise interest rates this quickly was back in 1981."
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Historically, 11 out of 14 Federal Reserve rate-hiking cycles have resulted in a recession.
"over the last 14 rate hiking cycles that the Federal Reserve Bank has done made in the last 14 times that the Federal Reserve Bank has worked increased interest rates 11 of those times have led to a recession"
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US credit card debt has reached an all-time record high.
"we have just broken a new record for credit card debt historical credit card debt ever in the United States"
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Economists predict that consumer credit will be largely depleted by mid-2024, assuming current spending trends continue.
"by the middle part of 2024 this credit is also expected to be tapped Out"
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Student loan payments will resume in October.
"starting in October now Americans will be required to make the student loan payments again"
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There is a possibility of further interest rate increases in the future.
"there is a good chance that there could be even higher interest rates in the future"
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2023 is presented as a year to focus on financial education and preparation rather than major purchases like a new truck.
"2023 is not the year for you to go out and finance a new truck 2023 is the year for you to get financially smart"
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