WHITE HOUSE: The Economic "Slowdown" Is A Lie
Published: 2024-04-30
Status:
Available
|
Analyzed
Published: 2024-04-30
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Core PCE inflation in Q1 2024 was 3.7%, exceeding the 3.4% estimate.
"the core inflation the core personal consumption expenditures index grew by 3.7% in the first quarter 2024 above the estimates of 3.4%"
Pending
US economy growth in Q1 2024 was 1.6%, below expectations of 2.5%, while inflation was higher than anticipated.
"the United States economy isn't growing as fast as a lot of people thought... the US economy grew by just 1.6% in the first quarter of 2024 much slower than expected... inflation also came in hotter than expected"
Pending
Americans are facing financial strain due to rising costs for essentials like housing, cars, and groceries, leading them to use creative methods to maintain their lifestyles despite stagnant incomes.
"Americans are essentially running out of money because people have to pay more money for their housing they have to pay more money for the car they have to pay more money for the groceries which means they have less money left over to do other things... people have been looking for creative ways to continue maintaining their lifestyles even if their incomes are not keeping up with the higher cost of living"
Pending
A record number of Americans are taking hardship withdrawals from their 401(k)s to maintain their lifestyles amidst rising costs.
"now we're seeing a record number of Americans dig into their retirement accounts through a 401k hardship withdrawal that way they can pull money out and continue maintaining their Lifestyles"
Pending
Consumers will eventually have to reduce spending if they cannot sustain current levels.
"if people can't keep sustaining the same level of spending as before eventually people have to cut back on spending"
Pending
Depletion of credit, savings, and retirement funds will inevitably lead to reduced consumer spending.
"when people max out their credit cards when people can't dig into their savings anymore when people can't dig into their retirements anymore they will eventually have to cut back on spending"
Pending
The US economy is cooling, inflation is rising, and wage growth is declining.
"you have an economy that is cooling you have inflation that over the last few months has been heating upwards while wages are going downwards"
Pending
Stagflation is defined as a scenario with rising prices, high inflation, a cooling economy, and increasing unemployment.
"a lot of people have been worried about this worst case scenario called stagflation and what stagflation is is when you see Rising prices higher inflation with a cooling economy and higher unemployment"
Pending
A continued cooling economy combined with persistent or rising inflation could lead to job losses.
"if the economy were to continue Cooling and inflation stays stubborn or continues to go higher that would be a big problem because that would mean that people would be losing their jobs in a cooler economy"
Pending
Expectations for early 2024 interest rate cuts have been repeatedly pushed back due to consistently high inflation readings.
"everyone was expecting interest rate Cuts early in 2024 yet here we are now in April 2024 and everybody keeps pushing back the expectations for when interest rate Guts are going to happen because inflation keeps coming in hotter and hotter and hotter"
Pending
The Federal Reserve has delayed its target for initiating interest rate cuts.
"the Federal Reserve Bank has essentially pushed back their target to start cutting interest rates"
Pending
Despite slower growth, the US economy is not currently considered 'broken'.
"we are nowhere near a broken economy today I mean a 1.6% economic growth is still economic growth that's not a broken economy by any means"
Pending
A continued slowdown and shrinkage of the economy would be a cause for significant concern.
"if we continue to see a slowing economy and the economy starts to shrink that would be very worrisome"
Pending
Cutting interest rates could stimulate the economy by encouraging more purchases of cars and homes.
"if the Federal Reserve Bank were to cut interest rates well that could boost up the economy because if they cut interest rates what's going to happen people are going to buy more cars people will buy more homes"
Pending
Lowering interest rates could exacerbate inflation by increasing demand for homes and cars, leading to higher prices.
"the downfall to that is that would also make the inflation problem worse because if people start going out and buying more homes well home prices would go up... likewise if people start buying more cars well that means car prices would likely start going up again too that makes inflation worse"
Pending
Inflation disproportionately affects the average person compared to those who are financially educated.
"inflation hurts some people more than others inflation hurts the average person more than the financially educated"
Pending
Inflation, defined as an increase in the money supply, devalues individual dollars, leading to reduced purchasing power and higher prices.
"when you inflate the money supply is when you increase the amount of dollars out there when you increase the amount of dollars out there that decreases the value of each individual dollar it makes the buying power of each dollar go down which then causes the price of things to go up"
Pending
Inflation benefits some individuals more than others, necessitating an understanding of the economic system to navigate it successfully.
"it benefits some people while hurting others and if you want to win in this game you have to understand how this economic system works"
Pending
Despite claims of a downward trajectory, inflation has increased month-over-month for the past three months.
"inflation is on a downward trajectory even though for the last 3 months what we've seen is that inflation has come out hotter than expected and gone up month over month over month"
Pending
The White House acknowledged regret in 2024 for previously labeling inflation as 'transitory' in 2021.
"we all remember back in 2021 when we were told that inflation was transitory and then finally in 2024 the White House came out and said that they regretted calling inflation transitory"
Pending
The US economy inherently moves through cycles of booms and busts, a pattern observed every decade for the past century.
"our economy moves through Cycles there are times where our economy goes up and there are times where our economy goes down this is a fact our economy has gone through booms and busts every decade for the last century"
Pending
Historically, the stock market has shown long-term growth over 100 years, but it experiences non-linear fluctuations with periods of both increases and decreases.
"over the long term if we take a look at the stock market over the last 100 years we'll see that the stock market has gone up over the long term but it's not linear there are times where the market goes up and down"
Pending
Investors should abandon 'get-rich-quick' schemes and focus on investing in strong, long-term assets held for multiple years.
"stop trying to play the get-rich quick game if you want to actually be an investor you have to actually be an investor and that means invest your money into a strong asset that you want to own for the long term and by longterm I don't mean 6 months I mean years"
Pending
For those unwilling to conduct in-depth research on individual companies, diversified investments like index funds, mutual funds, and ETFs are recommended.
"if you're not going to put in the work to actually analyze an investment if you're not going to put in the actual effort to research your investment and to keep up with your investment then don't invest in individual companies look for opportunities to get some diversification for example you can look at things like index funds mutual funds ETFs"
Pending
During the 2020 pandemic market crash, some advised buying in phases on the way down, while others advocated for waiting for further declines.
"when I was talking about how the markets are going down and I was buying in phases on the way down some people said you've lost your mind why would you buy stocks during this market crash but other people were saying just bre don't buy yet wait for the market to fall further"
Pending
The stock market experienced its fastest rise in American history following the 2020 pandemic dip.
"then we saw the stock market rise at the fastest rate we've ever seen in American history"
Pending
A systematic investment strategy involves automatically investing a fixed amount into ETFs every Wednesday, regardless of market conditions.
"I have a system where every Wednesday money is pulled out of my check-ins account and it's automatically invested into my portfolio of ETFs this happens every Wednesday whether the market is up or whether the market's down it does not matter"
Pending
Maintaining a separate cash reserve allows for aggressive investment during market downturns or when attractive stock opportunities arise.
"I have a separate pile of cash that are work to grow that way if I see a good opportunity if I see a stock fall that I like the company of or if I see the markets crash well now I have this pile of cash that can go and dump into the markets at a more aggressive rate"
Pending
The cyclical nature of the economy necessitates preparedness for both upward and downward trends.
"the reality is our economy goes up and down and you want to be prepared for the ups and down"
Pending
A common misconception is assuming current market conditions will persist indefinitely; however, markets are inherently cyclical.
"Most people assume that whatever is happening in the market today is going to continue happening forever that when things are bad it's going to stay bad forever when things are good they're going to stay good forever but that's not how it works"
Pending
Investing in financial education, which may require time and money, is crucial for improvement.
"invest in your financial education Yes that means time and maybe that means money depending on what you want to do"
Pending
Financial preparedness involves saving extra cash for protection and to capitalize on investment opportunities.
"work to be prepared that means don't spend all of your money have some extra cash you put aside to protect you and cash to be able to capitalize on investments"
Pending
During recessions, many individuals live paycheck-to-paycheck, spending all their income.
"anytime you have a recession is most people are living hand to mouth because anytime they make money they spend all that money"
Pending
Economic downturns are inevitable, having occurred every decade for the past century.
"things will go wrong when I don't know but we know that things always go wrong it's happened every decade for the last century"
Pending
Inflation reached a peak of 9.1%, significantly higher than the peak wage growth of 6.7%.
"inflation peaked at 99.1% while wage growth only peaked at 6.7%"
Pending
The current trend of rising inflation alongside falling wages is unfavorable.
"inflation is rising Now versus wage growth is falling now the wages are falling while inflation has been rising and that's not a very good Trend to have happen at the same time"
Pending