"Money Will Never Be The Same" | @Mindvalley x Jaspreet Singh
Published: 2023-10-07
Status:
Available
|
Analyzed
Published: 2023-10-07
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Inflation is predicted to disproportionately harm lower and middle-income individuals and the financially uneducated, while benefiting the financially educated and wealthy.
"it disproportionately hurts the poor it disproportionately hurts the middle class it disproportionately hurts the financially uneducated while the disproportionately benefits the financially educated and the disproportionately benefits the wealthy"
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Government spending beyond its means is identified as the primary driver of inflation, which is described as a 'hidden tax' paid by everyone.
"when the government spends money that they don't have what's the consequence then because there is a consequence and the consequence is inflation the hidden tax because now when the government spends money they don't have who pays for it everybody else all of us end up paying that price but how through inflation"
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The Federal Reserve's goal of 2% inflation means prices will continue to rise, albeit at a slower pace, indicating that high inflation is expected to persist for some time.
"the Federal Reserve Bank says that they want inflation to come down to two percent that doesn't mean they want the price of things to go down that means they want the price of things to go up just less quickly than it is right now so they're telling us inflation is going to be around and it's going to be a while before we get inflation down to two percent"
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The current economic climate, driven by changes in money and inflation, is predicted to create unprecedented opportunities.
"it's also going to create more opportunities than really ever in our lifetimes"
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The speaker advocates for increasing stock purchases during market downturns, viewing them as opportunities to buy at discounted prices.
"I'm starting to buy stocks more aggressively as stocks fall further I buy more aggressively"
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Recessions are presented as a recurring, almost decade-long phenomenon in global economies.
"recessions have happened pretty much every decade for the last century in economies around the world period"
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Individuals should proactively prepare for potential economic downturns during periods of stability.
"this is a time to be preparing prepare when times are okay for when things are not okay"
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Continuous learning about money and investing is crucial for financial well-being.
"you have to learn about money you have to learn about investing"
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The 'POOP' method suggests that panic leads to overselling, which in turn creates investment opportunities that can result in profit.
"panic leads to overselling overselling leads to Opportunities and opportunities lead to profit"
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Owning assets is presented as a way to mitigate the negative effects of inflation.
"you have to own the assets because when you own the assets when things like inflation happen it doesn't affect you as much"
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The most crucial step to learning about investing and capitalizing on opportunities is to simply begin, even with small actions.
"the key for you to really get started and learn from that experiences just get started"
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While there's a cap on personal earnings, money itself has the potential for unlimited growth through investment.
"there's a limit to how much money you can earn but there's no limit to how much money your money can earn"
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The nature of money is undergoing a fundamental and permanent transformation.
"money is changing and not only is it changing but it's never going to be the way that it was before"
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The rate at which the cost of living is increasing significantly outpaces the growth of incomes.
"the cost of living is growing way faster than our incomes"
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The US dollar's departure from the gold standard in 1971 allowed the government to print and spend money without the previous constraint of gold backing.
"in 1971 our president president Richard Nixon took the dollar off of the gold standard which meant our money became paper which means the government would have the ability to print and spend whatever money they want without any real implications"
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Quantitative easing is a monetary policy tool used to inject money into the economy, specifically to inflate markets.
"another four and a half trillion on quantitative easing this is money in order to inflate the markets"
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The dot-com bubble of the early 2000s was driven by the perceived future potential of internet companies.
"going back to the 2000.com crash before the year 2000 there was a big bubble that was created because.com companies were the future the internet was the future"
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Leading up to 2008, the real estate market presented significant opportunities, with accessible entry points like no money down purchases.
"then we had another once in a lifetime opportunities in 2008. real estate up to the year 2008 was the world of opportunity anybody could have gone out and bought real estate with no money down"
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The speaker advocates for buying stocks aggressively when the market is experiencing a downturn.
"when the stock market was crashing one of the things that I was saying was I'm starting to buy stocks more aggressively"
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Market sentiment often exaggerates both positive and negative extremes, suggesting a balanced perspective is more realistic.
"things are generally Never As Good as they may seem and things are also generally never as bad as they may seem"
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Wealth creation is not solely dependent on income level.
"the way you become wealthy isn't just determined by how much money you make"
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A common cultural trend, particularly in America, is to increase spending in proportion to increased income.
"in American culture when you make money you spend money when you make more money you spend more money"
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Higher incomes can lead to increased debt as financial institutions offer more credit, potentially worsening financial situations.
"as people make more money they end up in worse Financial situations how because when you make more money Banks look at you and they say oh you make a good income huh how about we give you a little bit more debt"
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To overcome the limitations of personal earnings, one must invest in assets that can generate income with no upper limit.
"you have to take that money and own assets and the reason why is because there's a limit to how much money you can earn but there's no limit to how much money your money can earn"
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Investment opportunities exist regardless of whether economic conditions are favorable or unfavorable.
"there will be opportunities now opportunities come when times are good and when times are bad"
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Current economic indicators such as inflation, rising interest rates, and global economic slowdown suggest potential future challenges.
"we're seeing the inflation problem we're seeing higher interest rates around the world where things longer economies in the world we're seeing a lot of things happen"
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Economic cycles of booms and busts are a predictable and recurring pattern.
"we know booms and busts happen"
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Financial preparedness is essential, and this starts with managing one's money effectively.
"getting prepared means you have to be financially prepared that means you got to get your money right"
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Prioritizing the repayment of high-interest debts, such as credit card debt, is crucial for financial freedom.
"if you have high interest debts work to pay those off credit card debt other high interest debts those things you want to get rid of"
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Establishing an emergency savings fund is vital to protect against unexpected expenses without incurring debt.
"you need to work on building your savings fund if you don't have any cash put aside to protect you against an emergency"
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Stocks are identified as an investment vehicle.
"you can invest in stocks"
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Real estate is identified as an investment vehicle.
"you can invest in real estate"
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Owning businesses is presented as an investment strategy.
"you can own businesses"
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YouTube videos and podcasts are recommended as accessible and free resources for financial education.
"watch YouTube videos watch podcasts because those are free and easily accessible"
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Reading books is suggested as a method for learning about financial topics and specific investment areas.
"read books"
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Taking action is paramount for gaining practical experience and learning in investing, which cannot be replaced by theoretical knowledge alone.
"most importantly take action"
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Blockchain technology is highlighted for its revolutionary impact and is a subject for learning.
"learn about the blockchain that's been doing a lot of revolutionary things"
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Artificial intelligence (AI) is identified as a significant area of economic change and an opportunity for learning.
"learn about artificial intelligence"
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The sheer volume of information and complex financial instruments can lead to an overwhelming and intimidating experience when first learning about investing.
"when you start learning about investing it becomes a very intimidating if you start learning about stocks you learn about stocks companies then you'll learn about index funds you learn about ETFs you learn about mutual funds and then you're gonna start learning about expense ratios and options and all these other fancy derivatives and financial instruments which can become very overwhelming"
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Investing in startups has become more accessible, partly due to the popularity of shows like Shark Tank.
"learn about investing in startups this has become so much more accessible because well Shark Tank made startup investing very popular in the United States"
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A period of booming assets across various classes suggests the need for proactive preparation for potential economic downturns.
"we have been seeing booming assets which is why well if things are okay you need to make sure you're preparing for when times are not okay"
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Basic financial literacy is essential to effectively evaluate and trust financial advice or services.
"if you don't know the basics of financial education and you just trust somebody else you have no idea if they're doing a good job for you"
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Online platforms are increasingly making investment in startups more accessible and user-friendly.
"and so now many platforms I'm open up online to make it more accessible and easy for people to invest in other startups"
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