PEOPLE HAVE NO IDEA WHAT'S ABOUT TO HAPPEN

Summary

In this video, the host commemorates 9/11, honoring those affected and reflecting on the tragedy. They discuss the current economic climate, referencing a quote by Ernest Hemingway about the consequences of currency inflation and war. The host covers market volatility, citing a significant Dow Jones turnaround, and expresses concern over the US economy, highlighting job losses, business closures, and bankruptcies. They also touch on the rise of a new global payment system that could challenge the US dollar, urging viewers to be vigilant with their investments and to prioritize tangible assets and self-improvement in an uncertain economic future.

Takeaways

• 🙏 The speaker begins by paying respects to the victims and families affected by the tragic events of September 11th.
• 📈 The video discusses a significant market turnaround with the Dow Jones and NASDAQ experiencing substantial swings.
• 💵 The speaker highlights concerns about inflation and its impact on the economy, referencing a quote by Ernest Hemingway.
• 🛒 There's a mention of dollar stores struggling, which the speaker suggests is a more accurate reflection of the US economy than the stock market.
• 📉 Companies like Samsung, UPS, and Sonic are highlighted as examples of businesses laying off employees or closing stores, indicating economic strain.
• 🏠 The speaker warns against a false sense of security due to rising home equity, drawing parallels to the 2008 financial crisis.
• 💸 A discussion on the dangers of cryptocurrency scams and the importance of being cautious with investments is presented.
• 🗳️ The speaker encourages viewers to consider the economy and crime as important factors when voting, sharing personal views on recent political debates.
• 🌐 There's mention of a new global payment system being adopted that could potentially isolate the US dollar.
• ✝️ The video concludes with a call for viewers to prioritize their spiritual well-being and prepare for challenging times ahead.

Q & A

What is the significance of the date September 11th, 2024, as mentioned in the script?

The date September 11th, 2024, is significant as it marks the anniversary of the tragic events of September 11, 2001, where many lives were lost, and it is a day to remember and pay respects to the families and emergency workers affected by the incident.

What quote from Ernest Hemingway is highlighted in the script, and what does it imply about current events?

The quote from Ernest Hemingway is 'The first Panacea for a mismanaged nation is inflation of the currency; the second is war; both bring temporary prosperity, both bring permanent ruin, but both are the refuge of political and economic opportunists.' It implies a commentary on the current economic and political situation, suggesting that the misuse of monetary policy and war can lead to short-term gains but long-term damage.

How did the speaker describe the stock market's performance on the day the script was written?

The speaker described the stock market as having a significant turnaround, with the Dow Jones initially down around 750 points but closing up 125 points, and the NASDAQ initially down around 200 points but closing up 370 points.

What economic indicator is mentioned in the script, and what was the reported change for August?

The economic indicator mentioned is the consumer price index (CPI), which reportedly rose by 2% in August, and the annual inflation rate hit its lowest since early 2012.

What is the 'Invisible Hand' referred to in the script, and how does it relate to the stock market?

The 'Invisible Hand' is a term from economic theory by Adam Smith, referring to the self-regulating nature of the marketplace. In the script, it is used metaphorically to describe the forces that caused a significant market turnaround, despite the day's economic news not being positive.

What concerns does the speaker express about the US economy based on the performance of dollar stores?

The speaker expresses concern that the struggling performance of dollar stores, with consumers being 'tapped out' and unable to afford even these low-cost retailers, serves as a more accurate barometer of the US economy than the stock market, which they believe is disconnected from the real economy.

What examples of companies laying off employees or facing financial difficulties are given in the script?

Examples given include Samsung laying off thousands despite an AI chip boom, UPS laying off more employees after previously announcing cuts, Sonic drive-thru closing locations, Big Lots closing a distribution center, and Burgeri filing for chapter 11 bankruptcy.

What is the speaker's opinion on the current state of the US dollar in relation to global payment systems?

The speaker believes that the US dollar is being isolated as other countries adopt new global payment systems, which they view as a significant problem and a sign of the dollarization of the world economy.

What advice does the speaker give regarding personal finance and investments in the current economic climate?

The speaker advises investing in tangible assets, acquiring skills, and preparing for potential economic downturns by being cautious with investments, focusing on self-improvement, and being wary of scams and charlatans.

How does the speaker suggest people should approach the current economic and social challenges?

The speaker suggests that people should walk closer to God, prepare spiritually and practically, and be aware of the potential for increased social and economic challenges, emphasizing the importance of personal responsibility and preparation.

Outlines

00:00

🙏 Acknowledging September 11th Tragedy

The speaker begins by expressing gratitude to the viewers for their support and acknowledges the tragic events of September 11, 2001. They pay respect to the families, firemen, policemen, and emergency workers affected by the event, many of whom lost their lives. The speaker reflects on the significance of that day and expresses hope that such a tragedy never occurs again, despite the current state of the world and ongoing warnings about potential future crises.

05:01

💹 Market Volatility Amid Economic Challenges

The speaker shares a quote from Ernest Hemingway about inflation and war, emphasizing the challenges facing the nation. They discuss the recent fluctuations in the stock market, particularly a 900-point swing in the Dow Jones. Despite bad economic news, markets recovered unexpectedly. The speaker questions the forces behind such volatility and highlights rising core inflation and consumer price index (CPI) numbers, suggesting that the Federal Reserve may only cut interest rates by 25 basis points rather than the anticipated 50 basis points.

10:04

📉 Struggling Economy: Layoffs and Business Closures

The speaker details the ongoing economic struggles, including layoffs at major companies like Samsung and UPS. They highlight the increasing number of business closures, especially in the restaurant industry, with chains like Sonic and Big Lots shutting down locations. Rising labor costs, inflation, and other economic pressures are forcing businesses to cut back, and the speaker points to the challenges consumers face, such as student loan debt and increasing living costs.

15:06

⚠️ The Dollar's Decline and BRICS Impact

The speaker discusses the global de-dollarization movement, focusing on the BRICS nations adopting a new global payment system that threatens the US dollar's dominance. They criticize Americans for being distracted by entertainment, like football games, while their financial security is eroding. They warn that many people have a false sense of security due to rising home equity but may face financial ruin when the next economic downturn hits, as seen during the 2008 financial crisis.

🛑 Economic Collapse and the Rise of Scammers

The speaker warns about economic instability, citing the massive losses in cryptocurrency scams and advising viewers to be cautious about who they trust with their money. They emphasize the importance of investing in tangible assets, developing personal skills, and preparing for potential economic collapse. The speaker also highlights the prevalence of scam artists who sell fear and push unnecessary products, urging people to focus on practical preparations like securing food, water, and self-defense skills.

🙏 Preparing Spiritually and Practically for Hard Times

In the closing remarks, the speaker stresses the importance of being spiritually prepared for the challenging times ahead, advising viewers to strengthen their relationship with God. They emphasize that the world is facing a spiritual war between good and evil and that viewers should include faith as part of their personal preparation. The speaker reminds viewers to stay vigilant, comment on the issues discussed, and shares their intention to visit Los Angeles, where they will report on the growing homelessness crisis.

Keywords

💡9/11

9/11 refers to the September 11, 2001, terrorist attacks in the United States, where hijacked planes crashed into the World Trade Center, the Pentagon, and a field in Pennsylvania. The speaker pays tribute to the victims, families, and first responders, emphasizing the lasting impact of the tragedy. This acknowledgment sets a solemn tone at the start of the video and reflects on national grief and resilience.

💡Inflation

Inflation is the increase in prices of goods and services, reducing purchasing power. The video discusses how rising inflation rates affect the economy, specifically citing consumer prices and the Federal Reserve's struggle to manage interest rates. The speaker uses a quote from Ernest Hemingway to illustrate the dangers of inflation in a mismanaged nation, highlighting its relevance to the current economic climate.

💡Stock Market Volatility

Stock market volatility refers to significant and unpredictable price movements in the stock market. The speaker discusses the extreme fluctuations in the Dow Jones and NASDAQ, describing a 900-point swing in a single day. This volatility reflects economic uncertainty and is portrayed as being influenced by 'invisible hands,' suggesting manipulation or external forces at play in the markets.

💡Dollar Stores

Dollar stores are low-cost retail outlets that sell inexpensive items, often seen as indicators of the economic health of lower-income consumers. The speaker mentions that dollar stores are struggling, with declining sales signaling that many Americans are financially strained. This serves as a more realistic gauge of the economy compared to the stock market, underscoring the disconnect between Wall Street and everyday financial realities.

💡Layoffs

Layoffs refer to the dismissal of employees, often due to economic downturns or efforts to cut costs. The video highlights several companies, including Samsung and UPS, that are laying off thousands of workers despite industry booms like AI chip production. This trend points to broader economic instability and the impact of rising operational costs, affecting job security across various sectors.

💡Bankruptcies

Bankruptcies occur when businesses or individuals cannot meet their debt obligations. The speaker lists several companies, such as Big Lots and BurgerFi, filing for bankruptcy, illustrating the growing financial distress in the retail and food service sectors. This wave of bankruptcies serves as a warning about the fragility of the economy and the struggles businesses face in a high-cost environment.

💡Student Loan Debt

Student loan debt refers to the money owed by individuals who have borrowed to pay for their education. The video discusses the high rate of student loan delinquencies, with many borrowers unable to make payments due to low income and high debt burdens. This issue is highlighted as part of the broader problem of unsustainable personal debt in America, contributing to financial instability.

💡BRICS

BRICS is an economic alliance of Brazil, Russia, India, China, and South Africa, which is working to establish a new global payment system that challenges the dominance of the US dollar. The speaker warns of the de-dollarization trend driven by BRICS, suggesting that this shift poses a significant threat to the American economy as it could undermine the dollar’s status as the world’s reserve currency.

💡Cryptocurrency Scams

Cryptocurrency scams involve fraudulent schemes that deceive investors into losing money through digital currencies. The video cites an FBI report stating that Americans lost $5.6 billion to crypto scams last year, highlighting the risks and the need for caution when investing in digital assets. This is used to emphasize the importance of making informed financial decisions in a risky economic environment.

💡Economic Preparation

Economic preparation involves taking steps to safeguard one's financial security in uncertain times, such as investing in tangible assets, learning new skills, and maintaining a cash reserve. The speaker stresses the need for viewers to prepare for potential economic hardships by avoiding risky investments and focusing on practical, self-reliant strategies. This advice is framed as crucial in the face of looming financial challenges.

Highlights

Acknowledgment and respect for the tragic events of 9/11 and the families and emergency workers affected.

Discussion on the quote by Ernest Hemingway about the consequences of currency inflation and war.

Market update: Consumer prices rose 2% in August, and the annual inflation rate hits the lowest since early 2012.

Analysis of market volatility with a 900-point swing in the Dow Jones and NASDAQ.

Concerns about core inflation and unexpected rise in shelter costs.

Economic indicators from dollar stores as a reflection of the US economy's health.

News on Samsung's global layoffs despite the AI chip boom.

UPS laying off employees and the impact on the job market.

Closures of restaurants and businesses as a sign of economic downturn.

Burgeri restaurant chain filing for chapter 11 bankruptcy.

The impact of labor costs, inflation, and food costs on the restaurant industry.

McDonald's closing dining rooms and the potential for job cuts in the fast-food industry.

Statistics on student loan borrowers and the challenges they face in making payments.

Public opinion on the economy from a recent survey indicating a lack of confidence.

Discussion on the upcoming elections and the importance of voting on economic issues.

The adoption of a new global payment system by BRICS nations, potentially isolating the US dollar.

Warning about the risks of investing in cryptocurrencies and scams.

Advice on investing in tangible assets and self-improvement during economic uncertainty.

Emphasis on the importance of spiritual preparation and walking close to God in times of crisis.

Transcripts

it is September 11th

2024 uh thank you so much for joining me

today I really do appreciate it please

like share and subscribe uh I want to

start out today by acknowledging and

giving uh my respects to all those

families all those firemen policemen um

back at that tragic day of 911 so many

lives were lost uh just a historic event

a tragedy there's so much we could talk

about uh what happened that day that

obviously we really couldn't talk about

here but my heart goes out to the

families uh all the um emergency

workers uh I'll never forget that day

and uh just so much to that event that

nobody's really talking about it's

unfortunate that we really can't talk

about it but uh God bless all those

people God Bless the people out there

the families that lost loved ones uh

just a horrible horrible event but I

wanted to acknowledge that and pay my

respects to everybody uh that lost

somebody and all the hard work from the

emergency workers that were there many

of them have passed away uh some are

still alive obviously but uh just a just

a tragic event and let's pray to God

that nothing like that ever happens

again but as you know we see what's

happening in the world and the warnings

that we're getting uh it is very very

very probable that we're going to see

some very uh crazy events unfold here in

America I want to start today's video um

with a quote from Ernest

Hemingway the first Panacea for a

mismanaged nation is inflation of the

currency the second is war both bring

temporary Prosperity both bring

permanent ruin but both are the Refuge

of political and economic opportunists

wow says a lot about where we're at

today and what's happening I wanted to

share that with all of you let me know

your thoughts on that uh first article

today from CNBC consumer prices rose.

2% in August as annual inflation rate

hits lowest since early

20121 uh I've got to I got to say this

as we got the news today the Invisible

Hand is Alive and Well the Invisible

Hand was was moving markets today we

were down Dow Jones was down around 750

points this morning the Dow Jones closed

up 125 points at the end of the day that

is roughly a 900 point turnaround NASDAQ

I saw it down around 200 points earlier

today I don't know officially how low it

was but it closed up 370 points a 600

point turnaround the Invisible Hand

ladies and gentlemen just pulling the

strings pulling the numbers to today

somebody explained to me how this is

even possible a 900 Point swing uh on

the news today that basically wasn't

good news uh uh for the markets because

the FED is not going to be able to cut

rates 50 basis points it will be 25

basis points and so the market realized

that but but somehow it took the bad

news and all of a sudden it was good

news it's amazing how how these magic

magic tricks tricks continue to happen

um core inflation comes in hotter than

expected as shelter costs unexpectedly

rise uh so core inflation Rose 3% month

over month CPI we're at 2.5% core CPI is

at

3.2% uh CPI dropped uh from 2.9% to

2.5% uh no 50 base uh 50 basis point

rate cut in my opinion let me know your

thoughts on this but let me know your

thoughts on this Market volatility where

we're seeing a

900 Point swing today what was it based

on why did it happen what was the news

that turned everything around somebody

please uh let me know uh Fox Business

dollar stores getting crushed sends

ominous signal about US economy

consumers are Tapped Out expert warrant

uh you know I I think that what's

happening with the dollar stores is a

much more accurate barometer uh for the

US economy than the stock market the

stock market has completely Gone Bananas

has no uh relation to the real economy

what does have a real relation to the US

economy are dollar stores people are

tapped out they can't even afford now to

go to a dollar store we're seeing more

of these stores closing uh some more

news today and some of this might be a

couple days old Samsung laying off

thousands in global Cuts despite AI chip

boom it says here that up to 30% in some

of their divisions will will be gone by

the end of the year Market's completely

ignoring that UPS laying off more

employees amid efforts to boost

profitability this after they announced

uh cutting 12,000 people uh earlier this

year more people are about to lose their

jobs at UPS Sonic Sonic uh drive-thru

The Burger Joint permanently closes

Talon and Lutherville

restaurants we have one about 5 minutes

from the house drove by there the other

night and there was one car in the

entire place and I've driven by there

multiple times and I don't really ever

see more than two or three cars so the

one over here uh which is in

Indio uh I think that's Indio or Bermuda

Dunes right at the border there uh I

think it's on borrow time so we're going

to continue to see more of these

restaurants closing Big Lots closing

West Columbus Distribution Center 400

people uh will be without a job

restaurant chain Burger burgeri files

for chapter 11

bankruptcy uh they have 50 to 75 million

in assets their total debt is between

100 to 500 million more bankruptcies are

coming ladies and gentlemen uh I think

that I've never been to a burger fly I

don't think we have

any in Southern California maybe we do

I'm not aware of it but I think it's a

higher end Burger Joint so you know

burger fries on a Coke you're probably

looking at 20 plus dollars people don't

have it people can barely afford to go

to McDonald's at this point so we're

going to see more unfortunately more

restaurants labor costs inflation the

food costs Insurance all that

interesting Enrique called me yesterday

he drove by a McDonald's uh right over

here in linta 10 minutes from the house

and he said they had a big banner up

that their dining room is closed that

drive-thru uh is is open that's it so

what we're seeing apparently is they're

going to be cutting more labor shutting

down the dining rooms and you can um

just go through the drive-thru so think

about the money they could save just

shutting down the dining room and just

having people go through the drive-thru

they could probably cut half their

employees by doing that and they're

going to probably be forced to do that

because it's just especially here in

California I mean some of these joints

are paying $24 $25 just to flip Burgers

uh or to work at Panda Express

$425

so uh this uh might have sound like a

great idea given people all this money

for these fast food restaurants and

these uh um Hospitality type jobs uh

it's going to land up to be a disaster

people are getting their hour slashed

they're losing jobs restaurants are

closing it's uh not going to work out

one in five student loan borrowers avoid

making payments uh this on the Hedge

today 27% of these people have a

household debt of less than

$50,000 they have no uh savings they're

living they're they're working a very

low-wage job they're working part-time

and so they can't even pay this back

with a degree they got a degree and they

have a household income less than

$50,000 a year what what a waste of

money that a majority of these degrees

are now and these people are going to be

in debt for a very very long time uh

interest

occurring uh another disaster people are

so in the hole I don't know how they're

going to get out with the amount of

credit C debt Auto debt student loan

debt Mortgage Debt people are just

absolute debt slaves at this point

another one from the Hedge shocking new

survey exposes reality that only 23% of

Independents think the economy is on the

right track I watched the debate last

night I won't go too far into it uh I

was somewhat

disappointed um didn't really I I I was

expecting a better debate actually uh on

both sides one side was extremely

rehearsed uh the other side just seemed

a little tired so let me know your

thoughts on the debate who did you who

did you think won who who lost I I you

know I I I I don't really think anybody

really won here um I I just thought uh

that it was just very low energy stuff

that we already know uh Harris

unfortunately didn't really have a plan

for anything um and you know Mr T he

just uh to me honestly personally it

just seemed like he was defending

himself the whole night but let me know

your thoughts on that uh but I will be

voting on the economy let me know what

you're voting on what are the big topics

for you uh I I I

think um economy is number one and I

think crime is right up there uh and we

can go down down the line but I think uh

the the economy and crime are two of the

big topics and uh wasn't really like

they didn't really the moderators didn't

really push the questions and really

hold anybody accountable last night uh

now here's a big problem uh brics

confirms 159 participants will adopt new

global payment system isolating the US

dollar you right now are witnessing the

the

dollarization of the world econ economy

and this is happening while 21 plus

million people watch football games and

have no idea what is going on I it is

unfortunate but we have so many zombies

in America who would rather watch adult

men throwing a football around paying

lots of money to do this um while their

pensions are being robbed their social

security is being robbed their their

dollar is being d destroyed and these

are the people that are going to wake up

one day and they're going to go what

happened and they have absolutely no

preparations they have nothing put away

they are 100% dependent on the system

their 401K they're Ira their their

pension whatever and it's going to it's

going to be vaporized and they're going

to wonder what happened and then they're

going to get really mad and they're

going to they're going to want to know

who did this to them and they should

look in the

because you're going to have to blame

yourself for what happened because you

were too busy going to football games

you were too busy ignoring what was

happening in this country you were too

busy to worry about who's stealing your

money you're too busy to worry about

what's going to happen to your kids's

future and people are going to get what

they deserve unfortunately and this is

really really sad because this all could

have been prevented but people it's

amazing how zombified they are when it

comes to sports the country is burning

they're stealing your

money and yet you'll pay whatever you

have to pay to go to a tlor Swift

concert or a football game

absolutely uh unbelievable in my opinion

Americans have more than $32 trillion

doll in home equity a record high so

maybe that's why people can go to

football games because they feel they

have this false sense of security that

everything's okay because their home

price went up their $300,000 house now

is $500,000 so life is good these people

obviously uh either forgot about 2008 or

they were too young uh because in 2008

you could not believe how fast equity in

homes disappeared very very quickly so I

think a lot of people have a very very

false sense of security that they're

wealthy because their home price is up

right now but what happens when it isn't

up what happens when the equity begins

to disappear when home prices go down

and there may be people out there

laughing that oh home prices will never

go down that's what they said back in

2008 they've said it many times before

2008 uh it's called Cycles everything

goes down bubbles all burst ladies and

gentlemen and with what we're watching

the volatility on the stock market with

what we're witnessing with the massive

amount of bankruptcies the massive

amount of layoffs the massive amount of

of of uh businesses closing uh the

commercial real estate apocalypse home

sales at a record record low uh

inflation still very very high and you

can't even believe the numbers we know

inflation is much higher than we're

being told it's at a record uh number at

this point go to the grocery store go

get your car repaired uh go pay your 23

25 30% interest on your credit card we

all know that it's much higher than than

we're being told so I I just uh I I I

think people have a very very false

sense of security and they have not gone

back and looked at history or they've

forgotten about it Americans lost 5.6

billion dollar in cryptocurrency scams

last year FBI says uh as I leave you

today uh this is another reminder be

very very careful where you're putting

your money where you're investing who

you're giving money to uh a lot of

people are getting ripped off not just

in cryptocurrency but uh there's a lot

of people just on social media that sell

garbage uh that do pump and dumps that

sell worthless stocks uh trying to get

you to buy this stuff you need to be

buying things that are real you need to

be buying tangible assets right now you

need to be acquiring skills you need to

be investing in yourself not magic

potions magic pills magic workouts you

need to be doing this stuff yourself you

need to be working out you need to be

eating better you need to be taking care

of yourself you need to be adding skills

how to protect yourself your family um

but so many people now are getting so

desperate you got to be careful of of

these charlatans these conmen these

snake oil salesmen that are out there

just trying to a lot I see a lot of

these people will sell fear and then

they'll say buy my magic pill buy my

magic workout buy this buy this pump and

up it's like look these are not the

things you need going into a depression

you need to be investing in yourself you

need to be taking care of yourself

getting in shape learning skills um

learning how to to do things uh so maybe

you can add a side hustle learning how

to protect yourself these are the things

you need to be doing yet you know these

these scam artists out there every day

trying to sell fear but then sell you a

product um buy the things that you

really need food water tangible assets

real money like gold silver put a cash

Reserve away uh put bable items away put

things that you would need water

purifiers candles matches tools uh

batteries

things of that nature and of course

again know how to do things know how to

protect yourself these are the things

you should be investing in this is a

very very risky time ladies and

gentlemen and people are getting very

very desperate and they will gamble uh

to you know get rich be very very

careful who you trust who you're

gambling what you're buying who's

managing your money who you're giving

money to who you're lending money to uh

be very very careful and you know you

you watch social media you know who the

scam artists are you know who's walking

the walk who's real who's not um be

careful I'm going to leave it there

today comment Down Below on anything you

want to comment on um we are heading as

i' as I've said in the past we are

heading into some real uh epic historic

Biblical times and most of all add God

to your assets to to your preparations

be walking close to God this is a

spiritual war now you see the good you

see the evil um we need to be walking

closer to God guilty I need to be

walking closer to God myself no doubt

there's more things I could be doing

with my preparations I need to be doing

um many of you probably in the same boat

uh many of you are well more way more

prepared than I am but I'm trying to do

what I can and I think walking closer to

God is the number one asset so we need

to be doing that because we're going to

see a lot more evil let loose uh on this

planet so uh be walking close to God and

thank God for everything you have if you

really believe that we're in trouble if

you really believe that we're heading

into a depression if you really believe

what you're seeing right now with the

homeless epidemic by the way uh Jack

Morgan myself and Rique Sid tomorrow

will be in La so uh that that video uh

will be dropping uh

Friday um but if you really believe that

we're in in a time now in our history

that we're we're going to really be

tested then you better get right with

God and you better be walking close to

God and you better be adding that uh to

your armor uh to your asset list um to

your skill list prayer God preparation

all of it have a good day be safe out

there um comment on anything you want to

comment out like share subscribe and uh

let me know what you thought about the

market today I really want to know this

volatility this 900 Point swing on the

Dow what do you think about that you

think that like like who's doing this I

mean who is pulling the strings here uh

what was it all based on let me know

your thoughts comment Down Below have a

good day talk soon