Why MOST Americans Will NEVER Get Rich.
Published: 2024-08-27
Status:
Available
|
Analyzed
Published: 2024-08-27
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
Deutsche Bank predicted that excess money in the economy would start to dwindle around October 2023.
"Deutsche Bank says that it's going to be towards the end of 2023 around October 2023 when this excess money is going to start dwindling away."
Pending
Significant business debt is expected to be readjusted at higher interest rates within the next 18-24 months.
"in the next coming 18 to 24 months we're going to see a lot of this business debt readjust at the higher interest rates"
Pending
Increased Social Security checks are identified as a significant contributor to higher consumer spending.
"the higher Social Security checks the higher Social Security payments are contributing I mean according to this article that was one of the biggest contributors to the higher consumer spending bigger Social Security checks"
Pending
The Social Security fund is facing a deficit, with more money going out than coming in.
"the Social Security fund is running out of money which means they have less money coming in than money going out"
Pending
Social Security payments will not keep pace with the rising cost of living due to government money printing leading to inflation.
"Social Security will never keep up with the increasing cost of living because the government has to print the money essentially to continue funding Social Security and anytime you print more money that creates more inflation"
Pending
Over the next 18-24 months, businesses may face significantly higher debt servicing costs due to readjusting interest rates, coinciding with declining consumer spending, potentially leading to economic strain.
"In the next coming 18 to 24 months we're going to see a lot of this business debt readjust at the higher interest rates and interest rates today are significantly higher than where they were back in 2020 and 2021 which means we could see the costs of servicing these debts Skyrocket for businesses at a time where spending is also declining"
Pending
Unlike past recessions where the Federal Reserve could stimulate the economy through money printing and stimulus, current high inflation presents a significant challenge, making it harder to recover from future economic downturns.
"if you look back to 2020 2008 2001 every time we had these recessions in the past the Federal Reserve Bank could inflate and stimulate our way out of the recession they could print money do quantitative easing we could send out stimulus checks we could do a lot of things to stimulate and boost the economy but if you're facing High inflation that then poses a lot more issues"
Pending
The government's printing of money to fund increased Social Security checks is contributing to higher prices, creating a cycle where larger checks are needed to cover rising costs, which in turn fuels inflation.
"The government printed or is printing more money to fund bigger Social Security checks which increases spending which increases demand but the money printing is what's causing or is a cause of the prices going up so it's kind of an interesting conundrum where in order to fund the higher prices the government has to pay out bigger Social Security checks but the bigger Social Security checks are what's causing the higher prices"
Pending
Current economic challenges, including high inflation, elevated interest rates, and a slowing economy, are projected to persist and are not yet resolved.
"The issues that we have in the economy with inflation the higher interest rates and the slowing economy are nowhere near from over"
Pending
The rapid increase in interest rates, persistent high inflation, and economic slowdown will eventually lead to a breaking point as people continue to accumulate debt to maintain their lifestyles.
"we have seen interest rate Skyrocket there's going to be a consequence to that we are still seeing High inflation there's going to be cost to that we are seeing the economy slow down and eventually if people keep going deeper and deeper into debt to fund their Lifestyles eventually that's going to break"
Pending
Within the next 18-24 months, a significant amount of business debt is expected to be re-adjusted at higher interest rates.
"in the next coming 18 to 24 months we're going to see a lot of this business debt readjust at the higher interest rates"
Pending
Consumer spending saw a significant increase of 4.2% in the first quarter, marking its highest quarterly pace since Q2 2021.
"consumer spending Rose at 4.2% that's the highest quarterly Pace since the second quarter of 2021"
Pending
An 88.7% increase in the Social Security cost of living adjustment is believed to have significantly contributed to the rise in consumer spending.
"an 88.7% boost in the social security cost of living adjustment likely boosted the consumer spending numbers"
Pending
The Social Security fund is facing a deficit, with outgoings exceeding income.
"Social Security the Social Security fund is running out of money which means they have less money coming in than money going out"
Pending
The current economic challenges, including inflation, high interest rates, and economic slowdown, are projected to continue.
"The issues that we have in the economy with inflation the higher interest rates and the slowing economy are nowhere near from over"
Pending
2023 is presented as a year for financial prudence and preparation for potentially tougher economic times, rather than financing large 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 because when times are okay you want to be preparing for when times are not okay"
Pending
Economic pain may be seen in 2024 or 2025, and the significant rise in interest rates will inevitably have consequences.
"we don't know if we're going to start to see more pain in 2024 or 2025 but the reality is we have seen interest rate Skyrocket there's going to be a consequence to that"
Pending
To accelerate wealth building through investment, individuals must take action to increase their earning potential.
"if you want to be able to earn more money so you have more money to invest so you can become wealthier sooner you're going to have to start doing something"
Pending
The most effective path to financial success is to begin taking action immediately.
"the fastest way for you to get there and get to the point where you want to go financially is you just got to get started"
Pending
A core value for the company is to embrace mistakes as learning opportunities and to recover quickly from them.
"fail fast and learn quickly"
Pending
In a capitalist system, wealth can be generated through labor or through profits derived from ownership and equity.
"truly in a capitalist system what that means is you can make money from your labor or you can make money from your profits from what you own your Equity"
Pending
The wealthiest individuals generate their income primarily from profits, equity, and assets, rather than from their labor.
"the wealthiest people in this country and the world are earning money not from their labor but from their profits they're earning from their Equity they're earning from their assets"
Pending
Investing is crucial for financial security as it diversifies one's money, reducing reliance on a single source of income.
"investing your money is so important because when you invest your money you are diversifying your money away from you"
Pending
Successful individuals prioritize acquiring assets over solely seeking higher salaries.
"wealthy people are working not for a bigger salary but for more assets"
Pending
Achieving wealth requires a more aggressive and strategic approach to investing.
"if you really want to become wealthy you're going to have to be more aggressive with how and where you invest this money"
Pending
Increases in income should be allocated towards more aggressive investments to acquire more assets, rather than financing depreciating assets like new cars.
"instead of using your raise to finance a newer car using the raise to invest a little more aggressively so you can own more assets"
Pending
Every individual in America should aim to be a business owner, but this does not necessitate actively operating, starting, or managing a business.
"in America every single person needs to be a business owner but that does not mean that everybody should be a business operator that does not mean that everybody should start a business and that does not mean everybody should manage a business"
Pending
Investing in income-producing assets is crucial because it decouples wealth generation from a potentially fleeting skill set and offers limitless potential for wealth growth.
"you need to go out and invest in these assets that are working to produce more value that way your income and your wealth isn't just reliant on your skill set because your skill set is fleeting but there's no limit to how many assets and how much you can make and how much wealth you can build from these Assets"
Pending
Recessions and market crashes are a recurring phenomenon in the economic system, occurring approximately every decade.
"in our economic system we see booms and busts pretty much every decade for the last century has seen some sort of recession or market crash"
Pending
In 2020 and 2021, approximately $13 trillion in new money was created and injected into the economy, a historical high according to NASDAQ.
"in 2020 and 2021 we saw the most amount of money printing ever according to the NASDAQ it was close to $13 trillion of new money that was created that was injected into our economy"
Pending
Inflation is defined as the devaluation of currency resulting from the printing of more money.
"inflation is when you decrease the value of the dollar by printing more money"
Pending
The Federal Reserve is attempting to curb inflation, which is caused by an excessive increase in the money supply.
"the Federal Reserve Bank is trying to cool down the inflation inflation is when you decrease the value of the dollar by printing more money"
Pending
Recessions are an inherent part of the economic system, and the primary concern is the severity of their impact, not their occurrence.
"recessions happen it's a part of our economic system it's not a matter of are we going to see a recession or not the question is really how bad is it going to be"
Pending
A reduction in interest rates by the Federal Reserve would likely stimulate spending and economic growth, but could also reignite rapid price increases and higher inflation.
"if the Fed started cutting interest rates you're going to see more spending you're going to see a boom in the economy but that's also going to cause prices to rise quickly again which would push inflation higher"
Pending
Financially educated individuals should focus on understanding economic events, being prepared, and leveraging opportunities rather than succumbing to panic.
"your job now as a financially educated person isn't to be panicked and to be worried and to freak out what's happening but rather understand what's happening be prepared and be financially educated that we can capitalize on the opportunities"
Pending
Being financially prepared incurs no cost but can prevent significant losses, whereas unpreparedness can be financially catastrophic.
"it doesn't cost you anything to be prepared it can cost you everything if you're not prepared"
Pending
Being prepared financially offers dual benefits: self-protection and the ability to seize emerging opportunities.
"it's better for you to be prepared that way number one you can protect yourself and then number two you can capitalize on opportunities that might come your way"
Pending
Educational institutions should prioritize teaching individuals how to build wealth within the existing economic framework.
"the first thing that I think schools should teach people is how do you get wealthy in our economic system"
Pending
Understanding the principles of capitalism is essential for achieving wealth within a capitalist economy.
"the people that become wealthy in a capitalist economy understand what capitalism means"
Pending
In a capitalist system, wealth can be generated through labor or through profits derived from ownership and equity.
"truly in a capitalist system what that means is you can make money from your labor or you can make money from your profits from what you own your Equity"
Pending
The wealthiest individuals generate their income primarily from profits, equity, and assets, rather than from their labor.
"the wealthiest people in this country and the world are earning money not from their labor but from their profits they're earning from their Equity they're earning from their assets"
Pending
Investing is crucial for financial security as it diversifies one's money, reducing reliance on a single source of income.
"investing your money is so important because when you invest your money you are diversifying your money away from you"
Pending
Successful individuals prioritize acquiring assets over solely seeking higher salaries.
"wealthy people are working not for a bigger salary but for more assets"
Pending
Achieving wealth requires a more aggressive and strategic approach to investing.
"if you really want to become wealthy you're going to have to be more aggressive with how and where you invest this money"
Pending
Every individual in America should aim to be a business owner, but this does not necessitate actively operating, starting, or managing a business.
"in America every single person needs to be a business owner but that does not mean that everybody should be a business operator that does not mean that everybody should start a business and that does not mean everybody should manage a business"
Pending
Investing in income-producing assets is crucial because it decouples wealth generation from a potentially fleeting skill set and offers limitless potential for wealth growth.
"you need to go out and invest in these assets that are working to produce more value that way your income and your wealth isn't just reliant on your skill set because your skill set is fleeting but there's no limit to how many assets and how much you can make and how much wealth you can build from these Assets"
Pending
Recessions and market crashes are a recurring phenomenon in the economic system, occurring approximately every decade.
"in our economic system we see booms and busts pretty much every decade for the last century has seen some sort of recession or market crash"
Pending
In 2020 and 2021, approximately $13 trillion in new money was created and injected into the economy, a historical high according to NASDAQ.
"in 2020 and 2021 we saw the most amount of money printing ever according to the NASDAQ it was close to $13 trillion of new money that was created that was injected into our economy"
Pending
Inflation is defined as the devaluation of currency resulting from the printing of more money.
"inflation is when you decrease the value of the dollar by printing more money"
Pending
The Federal Reserve is attempting to curb inflation, which is caused by an excessive increase in the money supply.
"The Federal Reserve Bank is trying to cool down the inflation inflation is when you decrease the value of the dollar by printing more money"
Pending
Recessions are an inherent part of the economic system, and the primary concern is the severity of their impact, not their occurrence.
"recessions happen it's a part of our economic system it's not a matter of are we going to see a recession or not the question is really how bad is it going to be"
Pending
A reduction in interest rates by the Federal Reserve would likely stimulate spending and economic growth, but could also reignite rapid price increases and higher inflation.
"if the Fed started cutting interest rates you're going to see more spending you're going to see a boom in the economy but that's also going to cause prices to rise quickly again which would push inflation higher"
Pending
Financially educated individuals should focus on understanding economic events, being prepared, and leveraging opportunities rather than succumbing to panic.
"your job now as a financially educated person isn't to be panicked and to be worried and to freak out what's happening but rather understand what's happening be prepared and be financially educated that we can capitalize on the opportunities"
Pending
Being financially prepared incurs no cost but can prevent significant losses, whereas unpreparedness can be financially catastrophic.
"it doesn't cost you anything to be prepared it can cost you everything if you're not prepared"
Pending
Being prepared financially offers dual benefits: self-protection and the ability to seize emerging opportunities.
"it's better for you to be prepared that way number one you can protect yourself and then number two you can capitalize on opportunities that might come your way"
Pending