The Middle Class is about to get DESTROYED.
Summary
TLDRThe video discusses the potential challenges facing the middle class, particularly in relation to employment and economic trends. It begins with an analysis of a jobs report that missed expectations, suggesting underlying economic weakening. The speaker references an earnings call from Zip Recruiter, indicating a drop in demand for recruiting services across company sizes, which could signal a broader labor market downturn. The video also touches on anecdotes of job losses at YouTube Music due to AI, and the potential for increased unemployment. It further explores the implications of these trends on the Federal Reserve's policies, suggesting that rate cuts could disproportionately benefit the wealthy, while the middle class may face greater challenges in finding new employment and maintaining their economic status. The speaker advises viewers to increase their value in their current roles and to prepare for potential economic shifts by diversifying investments and considering further education or certifications to remain competitive in the job market.
Takeaways
- 📉 The recent jobs report showed a weaker than expected number of jobs added, indicating a potential weakening in the economy.
- 🤔 Economists' expectations were largely off the mark, suggesting that there might be underlying issues not captured by current economic data.
- 📈 Despite the jobs report, the stock market initially responded positively, possibly due to expectations of lower interest rates.
- 👨💼 Zip Recruiter's earnings call indicated a drop in demand for recruiting services, starting with small businesses and spreading to larger enterprises.
- 🏠 The labor market is flattening, which historically has been followed by a decline, suggesting potential job market instability.
- 🌐 The global labor market is soft, with Germany, France, and North America all experiencing difficulties, which could affect middle-class job security.
- 💼 Companies like Starbucks are facing intense price competition but are reluctant to lower prices, which could be a sign of ego-driven decision-making that might not adapt well to changing market conditions.
- 📉 There is a concern that wage gains could turn negative as people may start accepting lower wages just to secure employment, which would impact the middle class.
- 🏢 If job losses increase and the economy turns down, there could be a rise in real estate foreclosures for those who financed homes based on the assumption of job market strength.
- 💰 The wealthy may benefit from rate cuts as they have the capital to invest in real estate and stocks, while the middle class could face challenges due to job and wage instability.
- 🚨 The speaker advises middle-class workers to increase their value to their employers and consider upskilling to become more irreplaceable in the face of potential job market downturns.
Q & A
What was the main concern expressed in the video about the middle class?
-The main concern expressed was that the middle class is potentially going to be negatively affected by a weakening job market, which could lead to difficulties in finding new jobs, potential wage stagnation or decrease, and overall economic challenges.
What was the discrepancy in the jobs report that raised concerns?
-The jobs report came in with 175,000 new jobs, which was significantly below the expected 240,000, indicating that the economic data might not be aligning with the actual conditions and suggesting a possible worsening trend.
How did the earnings call from ZipRecruiter reflect the labor market situation?
-The earnings call from ZipRecruiter suggested that the demand for recruiting services dropped throughout the year for all company sizes, starting with small businesses and expanding to larger enterprises, indicating a softening labor market.
What is the 'Great Staying' mentioned in the video?
-The 'Great Staying' refers to a trend where employees are choosing to stay in their current jobs rather than seeking new opportunities, which is a shift from the 'Great Resignation' trend that occurred during the COVID-19 pandemic.
Why was Jerome Powell's tone described as 'dovish' in the video?
-Jerome Powell's tone was described as dovish because the Federal Reserve Chairman may have had access to the jobs data before his FOMC speech, which showed weaker than expected job growth and wage gains, signaling a potential economic slowdown.
What is the potential impact of a softening labor market on the stock market and real estate?
-A softening labor market could lead to reduced consumer spending, which may negatively impact the stock market, particularly in sectors that are sensitive to interest rates. In real estate, it could lead to potential foreclosures if individuals lose their jobs and struggle to refinance their mortgages.
What does the video suggest about the future of wage growth in the United States?
-The video suggests that wage growth might stagnate or even turn negative due to increased competition and a potential surplus of labor supply, leading some workers to accept lower wages just to secure employment.
How might the middle class be affected if they lose their jobs in the current economic climate?
-If members of the middle class lose their jobs, they may find it challenging to secure new employment at their previous wage levels. This could result in decreased spending power, difficulty in maintaining their current lifestyle, and potentially being replaced by those willing to work for less.
What is the potential outcome for the real estate market if there are significant job losses?
-Significant job losses could lead to an increase in foreclosures, particularly among those who financed homes with high-interest loans and counted on the ease of finding new jobs to refinance. However, a real estate crash would likely require a large number of foreclosures and a significant increase in inventory.
What advice does the video give to individuals who are concerned about job security?
-The video advises individuals to increase their value within their current jobs, consider acquiring additional skills or certifications, and prepare for the possibility of an economic downturn by diversifying their income and investment strategies.
How does the video suggest the wealthy might benefit from a potential economic downturn?
-The video suggests that the wealthy might benefit from a downturn through opportunities to buy real estate or stocks at lower prices, as well as benefiting from lower interest rates which could make borrowing cheaper and potentially lead to higher returns on their investments.
Outlines
🚨 Economic Warning: The Middle Class is at Risk
The middle class is in jeopardy. The latest jobs report missed expectations, revealing only 175,000 new jobs compared to the forecasted 240,000. This discrepancy indicates potential economic instability, with the labor market weakening beneath the surface. ZipRecruiter noted declining demand for recruitment services across all company sizes, and other firms like Monster.com corroborated this with concerns about a soft global labor market. The 'great resignation' has evolved into the 'great staying,' and layoffs at companies like YouTube Music due to AI indicate a broader economic shift. The middle class is particularly vulnerable, and economic trends could affect real estate, the stock market, and employment opportunities.
📉 Powell's Dovish Stance: Implications for Real Estate and Jobs
Jerome Powell's dovish tone during his recent speech surprised many, but the unexpectedly weak jobs report likely informed his stance. The report indicated less wage growth and higher unemployment than anticipated, causing Powell to lean towards rate cuts. This has significant implications for the stock market, real estate, and employment. Recruiters and economic analysts are wary of an economic downturn, suggesting that the job market might worsen before stabilizing. Lower wages and fewer jobs could lead to negative wage growth, impacting the middle class disproportionately.
🛑 Starbucks' Ego and China's Intense Price Competition
Starbucks is facing intense competition in China but remains firm in its premium pricing strategy, refusing to lower prices despite rising competition from brands like Luckin Coffee. This ego-driven stance could be problematic, as similar economic trends may affect wages and inflation in the U.S. Starbucks' reluctance to adapt to market changes illustrates a broader issue of businesses not recognizing warning signs until it's too late. As companies compete for customers, price reductions often follow, leading to lower wages and higher unemployment.
⚠️ Economic Fallout: Job Market and Middle-Class Challenges
The middle class faces unique challenges as the job market weakens. Recruiters like ZipRecruiter are pessimistic, warning of further declines in job opportunities. The Federal Reserve's anticipated rate cuts will primarily benefit the wealthy, who can invest in real estate and the stock market. In contrast, the middle class may struggle with job security and reduced wages, leading to potential foreclosures and lower consumer spending. The economic environment is uncertain, and the middle class must prepare for tougher times ahead.
📊 Kevin's Sentiment Indicator and Market Outlook
Kevin's Sentiment Indicator provides insights into his evolving market outlook. Initially bearish in early 2024 due to hot economic data, he became cautiously optimistic after tech earnings indicated consumer resilience. However, concerns about inflation and a potential economic downturn remain. Kevin predicts that interest rate-sensitive sectors like Tesla and Enphase will perform well, while staple companies like McDonald's and Costco may struggle. The upcoming earnings report from ZipRecruiter will provide further clarity on job market trends.
💼 Financial Advice and Final Thoughts
Kevin concludes by emphasizing the importance of financial preparedness. He advises workers to increase their value by gaining new skills or certifications to avoid layoffs and to prepare for potential wage reductions. He also encourages viewers to join his financial courses for more detailed investment strategies and insights into building wealth. The economic challenges ahead require proactive measures, and Kevin provides practical steps for individuals to safeguard their financial future.
Mindmap
Keywords
💡Middle class
💡Job report
💡Economic data
💡Recruiting services
💡Labor market
💡Inflation
💡Federal Reserve (Fed)
💡Real estate
💡Stock market
💡Ego in business
💡Disinflation
Highlights
The middle class may be negatively impacted by economic trends, affecting individuals, real estate, and the stock market.
Recent jobs report came in below expectations, indicating a potential underlying economic weakening.
Zip Recruiter's earnings call suggests a drop in demand for recruiting services across all company sizes, signaling a softening labor market.
The 'Great Resignation' may be transitioning into the 'Big Stay', with people less inclined to change jobs.
Labor market concerns are expanding from small businesses to larger enterprises, indicating a broader economic issue.
Anecdotal evidence suggests AI is beginning to replace jobs in sectors like YouTube Music.
Zip Recruiter anticipates potential further declines following a flattening in the labor market.
Monster.com (Run) also indicates a soft global labor market, with new hiring as a leading indicator of future job market issues.
Federal Reserve's Jerome Powell's dovish stance may reflect advance knowledge of weaker jobs data.
Expectations for rate cuts have increased following weaker economic data.
Starbucks' earnings call reflects intense price competition in China, with the company choosing not to lower prices.
There's a potential risk of a wage-price spiral in reverse, where wages decrease as people are willing to work for less.
The middle class faces challenges as lower-class individuals may take jobs at reduced wages, increasing competition.
Rate cuts may disproportionately benefit the wealthy, who can invest in real estate and stocks during market dips.
The potential for negative growth in pay is increasing, as seen in recent reports showing lower wage increases than expected.
The speaker provides a personal investment strategy, emphasizing caution and increasing value in one's current job.
The speaker suggests that individuals should aim to become irreplaceable in their roles to safeguard against potential job losses.
There's a warning about the potential for a self-fulfilling cycle of reduced hiring and economic downturn, particularly affecting the middle class.
Transcripts
the middle class is about to get screwed
in this video I'm going to explain how
that affects you as an individual and
how it could affect real estate and the
stock market and it's not going to be
what you think it's going to be pretty
frustrating and really good for some
folks here we go first we just had a
jobs report that came in roughly in line
with the pre pandemic which seems good
but it totally missed expectations we
were looking at $240,000 on a survey and
we got
175,000 jobs that's not good because it
means for some reason the data we're
getting is not aligning with what
economists are actually looking at
suggesting that maybe underneath the
surface some worsening Trends are
cooking that aren't good and being
picked up by economic data in fact for
this jobs report there were 76 qualified
economic analysts and corporations
coming with these estimates only two of
them were looking at a number under
175,000 and all of them other than three
were
above 200 or equal to 200 so in other
words how did 73 out of 76 economists
over 90% of the economists get it wrong
what's possible that there's more of a
weakening and it could affect your
stocks real estate and importantly your
job job look at this earnings call from
zip recruiter this earnings call for zip
recruiter suggests 2023 demand for
recruiting Services dropped throughout
the year for all company sizes in this
earnings call they actually talk about
how it started with small companies it
started in the smbs the small to
medium-sized businesses but it actually
ended up expanding to larger Enterprises
as well in fact yesterday we made a
video where we talked about how it
looked like there were some anecdotes
about people over at YouTube music
getting laid off because AI was starting
to take their jobs we could see more of
that but not to be redone it to
yesterday it's important to just use
that as a reference point and add more
data to that which is zip recruiter
being concerned that not only are we
seeing quits back to prepandemic levels
which is somewhat being referred to as
dare I say the great
staying yeah digest that one for a
moment remember remember that back at
during covid there was sort of this uh
great
resignation now folks are actually
calling this the great staying or the
big stay take a look at this uh the
executives over at zip recruiter say the
great resignation has turned into the
big stay and we see that as something
that is working through the system after
the tumult of people starting to shelter
in place during Co
a great reshuffling in terms of the big
resignation the great resignation and
now sort of digesting that stuff but the
problem isn't so much okay the
recruiting company is having issues it's
where is the labor market going from
here out and right now zip recruiter
says that the labor market is flattening
out but throughout the entire earnings
call they say usually what happens is it
flattens out and then it declines
further they don't actually know if the
Q4 Peak that they saw in terms of pain
for the labor market is the peak or if
we're just flattening out to fall off
again and basically get even worse data
so when I say Peak I mean the worst bad
it's s like the peak of bad data right
we don't know if that's flattening out
or it's going to get worse but we do
know that usually let's say up is bad
for them so you Peak out Q3 the entire
or Q4 the entire year things get worse
so they see out a little a little bit of
flattening and then usually when they
see a flattening they start seeing data
get worse again and again I'm going up
here to imply more unemployment the way
to think about this so zip recruiters is
not happy they're saying look if things
get worse we're ready to be nimble and
cut more expenses it's not just zip
recruiter though it's also other
companies like ranot ranot is a company
from Amsterdam but you might know that
company a lot better by its us sort of
name and that's
monster.com monster.com is owned by
run and in their earnings call they
indicate the same thing they suggest
that basically the labor market is
pretty soft across the entire world
Germany is getting hit hard and it's not
getting better France is getting hit
hard North America is getting hit hard
and this all has to do with new hiring
that's a leading indicator that suggests
problems could be coming for people's
jobs so in other words if you're part of
the middle to upper middle class and you
lose your job it could be really hard to
get a replacement job so what then
happens and how does this relate to
drone pow in the fed and how does it
relate to what could happen in real
estate and what could happen with
foreclosures and what could happen with
the stock market let's analyze this
first drone pow was weirdly doish on
Wednesday why was he so soft we were not
expecting that we were expecting more of
a neutral Powell but we got a pretty
doish Powell well as I tweeted this
morning you should follow me on uh
Twitter or X at a real meet Kevin now we
know why Jerome Powell was doish
Wednesday as suspected and he's told us
this so it's not a big secret that he
knows this data often times beforehand
he can kind of call into the Bureau of
Labor Statistics and get some tentative
Data before it's released to the public
and so calls in as suspected drone PW
likely had this jobs Data before his
fomc speech
now we know why he was doish much weaker
jobs report than expected with less wage
gains not great now we understand why
Jerome Powell is picking up on the
leading indicators and he's going doish
this is not a matter of flip-flopping
with the data on the fed or whatever
this is a matter of seeing this
transition happening at the fed and
we're trying to understand why is the
Fed biased to want to cut and boy you
got to see what just happened with rate
cut expectations and again this is going
to lead to what happens with real estate
and stocks but first I just want to
shout out that we did extend this just
briefly to today the stocks and
psychology of money group and the buy
sell trade alerts this morning I threw
what I thought was a risky bet on a call
option but I played my trading analysis
lines almost perfectly I go we could get
a breakout on this line I think we're
going to go from this line to here it
was n phase 113 to 118 I'm throwing
45,000 bucks on this boom 5 X baby 20K
on the trade today I post my pnls if you
want my Buy sell alerts make sure you're
part of the stocks and psychology money
group link down below we are going to
officially raise the price this evening
so check that out uh but what's very
important now is how does drum pow's
doish and these worsening leading
indicators affect inflation and then the
greater Market well remember Jerome
Powell doesn't seem convinced that
there's going to be a second wave of
inflation if you're a second wave of
inflation person you're probably
probably going to want to be heavily
exposed to cash not personalized
Financial advice because things are
probably going to get a lot worse but I
want to show you an example of how
companies when they've been used to
raising prices for a while they tend to
be a little sticky and when they reduce
prices and that's because of ego let me
show you one of the most egotistical
companies I've discovered and I have to
say it's it's a scary site it's really
scary uh it's really disappointing
because I used to have a lot of respect
uh and now it's just uh clear to me that
uh this is nothing but ego uh and so I'm
going to put this picture up on screen I
just I just don't want you to be scared
by this here it
is go sorry wrong one it's right here
it's the Starbucks earnings call so this
is the Starbucks earnings call Starbucks
went all in on building out Starbuck's
in China and the thought was that they
were able going to be able to bring
premium coffee to China and by bringing
premium coffee to China they would
basically double their market and be
able to substantially double their
revenues that's what restaurants and and
you know food and beverage companies do
they build more locations so they can
grow so your goal is build build build
build build build so you get more and
more and more revs so your stock can go
up your earnings go up you get more
scale as you're buying stuff but I want
you to listen to Just this and tell me
what you think about the Starbucks ego
here as they face problems in China
you're ready for for this I'm going to
hide myself and read it out to you here
we go actually you know what we'll take
the laser pointer so let me start with
competition in China I think the growth
that's taking place in the Mass area of
the China uh of the China business of
the China overall coffee and tea segment
is one where we just see intense price
competition hm okay remember what
happens after intense price competition
first you have too little of a product
like think AI okay oh my gosh we have
too few AI chips we do not have enough
AI chips we need more everybody gets
into making AI chips AI chips that
should be selling for $7,000 like an
h100 sell for $3 to $40,000 or 50 or 60
on the black market or even more then
all of a sudden everybody gets into
building capacity to manufacturing ships
everybody gets into competing products
the prices come back down to reality
until you turn into like a lithium uh uh
you know uh commodity where all of a
sudden price is complet completely
collapse and actually becomes a lot
cheaper to build out the infrastructure
okay well that's normal the problem
though is when you have an ego and you
don't adapt to more Supply like the
growth of a luck in coffee or the growth
of Labor Supply see where I'm going with
this you actually end up missing out on
the warning signs that prices and wages
are potentially about to collapse I'm
just using Starbucks China as an example
because these same things I think are
going to happen in the United States
with wages and inflation in the second
half of the year now we have to wait and
see are those actually going to happen
but this has a very real possibility and
based on just the data we're looking at
look at this so watch the ego again
we're seeing intense price competition
so is Starbucks reducing their prices in
the face of you know as uh we have
special situations here on Twitter or X
posting about how cheap coffees are in
China from companies like lock and
coffee or otherwise lot of competition
what's Starbucks's response to this
Starbucks's response is we're choosing
not to participate in that we are a
premium brand we've built a business
over 25 years with a great deal of
competitive advantages you could see
that there we have amazing Partners in
stores we have stores that look
distinctive we have a tradition of
coffee oh my Lord the
ego we are traditionalists we're a
premium brand we choose not to
participate and lowering prices you're
going to get screwed and you're going to
realize it too late and then you're
going to drop prices too late and guess
what happens when you drop prices too
late you're behind the curve and then
you're screwed that same exact thing can
happen with jobs in America Jobs go
first it happens slowly Jobs go first
then earnings roll over Jobs go earnings
roll over earnings roll over less people
hire the people who got laid off then
you have a recession then we potentially
go into real estate foreclosures uh on
people who financed homes in 2022
thinking it would always be easier to
just resign and get another job because
the job market is so intense and they've
got a 7 and a half% loan and then what
happens they're like oh well rates will
come down I'll be able to refinance good
luck refinancing without a job or a
whole lot lower pay so what potentially
happens in the market as the job market
rolls over which is I think what Jerome
Powell's starting to see and we're
definitely already seeing at the
recruiting firms it's not actually a
wage price spiral concern it's
potentially actually the opposite it's
that wage gains actually go
negative because people start being
willing to work for less just to get a
job so how does that screw the middle
class consumer when companies start
realizing they're going to be forced to
lower prices as Supply chains stabilize
eventually we're going to get this Mass
disinflation potentially through a
recession this is why I'm a little
struggling it's kind of like okay like
yes we've got some hotter inflation
numbers now but that's holding up
because the econom is holding up GDP is
holding up but again as those prices
start rolling over earnings growth rolls
over those layoffs increase like we're
already starting to see then people
don't have jobs then people can't buy
then that leads to a self-fulfilling
cycle of less hiring then you run into
real problems and who is it a problem
for or should I say whom is it a problem
for what's a problem for the middle
class the person who's working maybe
they've got they're making somewhere
between 50 to a couple hundred th000 a
year I know that's a broad range that's
why we call it the middle class lower
class obviously we want to see you get
into the middle class could be an
opportunity to get in but it gets harder
to get in because you have to have now
potential the ability to acquire more
skills to level up and be willing to
work for Less that could be a way to get
in right so let's say somebody else is a
computer programmer software engineer
and they're like I need $200,000 a year
and you graduate and you're in a lower
class and you're going bro I'll I'll
take a job just for 70 like just get me
in right that actually does give you an
opportunity to level up but that means
those 200k programmers are like crap you
know I'm going to have to go down to 100
just to get a job again that means I
have less money to spend on stuff
not great that's where you could
actually see negative growth in pay and
that's kind of what we started seeing in
the report today a miss not only on the
number of people getting employed but
also a Miss on how much wages were going
up
so what then happens to stocks in real
estate ah yes stocks in real estate well
I hate to say it because it's not what
you would
expect if the Federal Reserve starts
rapidly cutting interest rates there are
going to be massive changes in real
estate and the stock market as of
Wednesday morning the market was only
expecting 1.2 rate Cuts this year after
this morning's jobs report the market
started expecting 1.9 rate Cuts this
year rounded up from
1.87 that's problematic because it's an
indication that the Market's going
oh wait a minute maybe the jobs Market
isn't as strong as we think it is maybe
we do need to get rate Cuts I understand
the market feels bipolar right and I'll
tell you kind of where like my head is
in all
this but I think as we get rate
Cuts guess who's going to
benefit the wealthiest are going to
benefit the people who have the ability
to go buy real estate people have cash
to go buy real estate people have the
ability to go buy the dip the people who
have the ability to hold on to their
stocks and as rate Cuts come down
interest rate sensitive sectors start
potentially rebounding and the stuff
that wealthy people spend money on like
durables like fancy cars premium cars uh
new cars for their friends and family
solar panels solar whatever houses
that's where you start seeing that
spending again the people who aren't
worried about losing their jobs or even
if they didn't have a job they have
enough Capital to keep spending and so
that's where the rich keep getting
richer the people who get screwed are
the middle class cuz again the lower
class can pop in and take jobs from The
Middle CL class at a lower cost and get
into the right of being the middle class
people get screwed of the lower class
Who start now getting replaced with
people willing to work for less if they
lose their job it's much harder to get
another job now they have less Capital
to go spend and invest or buy cars or
buy real estate or whatever and the
dreams of refinancing at lower rates
when rates come down poof because your
wages just went down now your debt to
income ratio is too high anyway this
doesn't actually mean that you're going
to have a real estate
crash it's possible if you have enough
foreclosures but you would really need
to see enough foreclosures and enough of
an inventory move up personally I think
we're going to be a little bit more
sideways in the near- term but you never
know we didn't see the kind of crazy
lending that we saw in 2006 in single
family seeing some more of that in
commercial and multifam uh which creates
some really good opportunities in my
opinion to buy the dip just have to be
careful that the dip doesn't keep on
dipping on you but this is in my opinion
a real warning to the middle class that
I'm personally worried about if I were
in a situation where I was working for
say you know $120 $200,000 $70,000 a
year whatever I'd be thinking to myself
okay what do I do if I lose my job well
first of all uh I don't want to lose my
job so I'm going to try to figure out
everything I can to make sure I provide
as much value as possible and I would
also start getting really satisfied with
my current job and being there for the
next at least probably 2 years 3 years
somewhere in there in that window so
like if you were itching to like go to a
different company I'd probably really be
thinking about okay what can I do here
to provide more value for the next two
or three years and to make sure that I'm
not part of the first layoff cycle or
rather the next layoff cycle right so
I'd be buckling up going hey um what can
I do to provide more value to the
business you need any licenses do you
need any I don't know need somebody stay
in after work or before work or whatever
you got to become
Irreplaceable now I want this I'm
purposfully trying to create that
warning now it's not to fearmonger it's
to
hedge maybe maybe nobody loses their job
in your company maybe the economy just
keeps booming and everything just goes
to all-time Highs but would it not be
better to buckle up and hedge provide
more value at your job get some more
skill sets you're a bookkeeper become a
CPA you're a junior software programmer
what certifications do you need to
become a senior software
programmer you're a real estate agent
what do you need to become a broker or
an mllo see what I mean like your
registered nurse what is it going to
take to become a doctor I I don't
actually think healthcare is going to
have as many problems but but it'd be
nice for you to have more capital in the
event there's a downturn right so what
can you do to increase that that income
that top line that is so important right
now and it's exceptionally important
because if the leading indicators with
today's jobs report continue on this
trend and inflation starts rolling over
we're going to see big rate Cuts we'll
also see that those massive M price
declines will actually potentially roll
into
disinflation which I know is counter to
what we've seen so far in the
inflationary Trend at the beginning of
this year but it's a possibility and
then that's where job Cuts come because
now all of a sudden your year-over-year
Revenue numbers start going down rather
than up like you don't have the Tailwind
of inflation actually helping you beat
on earnings anymore you're missing on
earnings so I made this little chart
over at ec.com it's not really a chart
it's more like a list but anyway I wrote
Kevin sentiment indicator for the last
two months mons so I wrote one is Kevin
is full bear 10 is Kevin is full bull so
then I give some examples 10 covid by
the dip Kevin refinances all houses in
March of 2020 and Yolo's on Larry cow's
v-shaped for the stock market I made a
lot of money doing that that was good
one which is full bear January of 2022
would have been a full 10 I was making
Titanic syncing videos and suggesting
bonds facts and stable coins would
collapse and Banks honestly
watch that video just type into YouTube
meet Kevin Titanic market crash you'll
literally see me predict bank failures
stable coin failures all dressed up in a
Titanic video it's it's probably my most
epic
video two and a half would be early
March 2024 this is going cash I'm a bear
hot data for January Fab I'm like this
isn't good the Federal Reserve is going
to pow us this isn't great then we get
our and we have earnings coming up which
could be bad I go to five on the first
week of tech earnings because of
confidence and guidance that the
consumer so far is still holding up
though I'm diversifying right I think
it's important to to note uh also though
diversifying owning uh owning more
stocks SL less concentrated on Singles
right so broadening out second week of
tech earnings I go to about a six and
after JP and about about a
7.5 in terms of bullishness on the stock
market so I'm I'm not like full Perma
bull here but you can kind of see this
transition uh you can go to ec.com and
read the whole thing if you want but
that's that's kind of how I feel right
now where I still I'm still more cash
than like a full bull but I also have
concerns obviously inflation could run
up our next report will be March 15th
obviously coupon code expires today
finally sorry we had to extend a little
bit there were too many emails emails at
staff atme kevin.com for questions or
bundles uh and then obviously uh you JP
was pretty dang doish why was he doish
well we start looking at some of these
these earnings reports which soon we're
going to be getting uh the next earnings
report for zip recruiter that'll be
really interesting we get that uh in six
days you know we're going to have a lot
more data that's going to say hey is
this job situation about to become a
little bit more serious or are we going
to be able to keep flying this plane so
we'll have to watch for it uh some folks
are saying Bitcoin is starting to Snuff
it out I I I don't know how particularly
true that is is but um you know Bitcoin
did roll down to almost $56,000 there
for a moment actually bounced off one of
our lines it's that 62 today on that
better jobs data you know still getting
some recovery here but uh that bounce
over there that 575 is some people are
saying Bitcoin is starting to Snuff out
some potential issues in the economy
though I actually think that when we get
rate Cuts Bitcoin along with a lot of
risk assets will actually do quite well
uh you just have to be careful because
some company earning are really going to
collapse probably like your Staples
McDonald's Coke you know Costco stuff
like that uh but the interest rate
sensitives I expect will do quite well
you know the Teslas the end phase
whatever again because they're like
wealthy people money spending companies
money recipient company anyway you get
the idea anyway that's my warning I wish
you the best good luck if you like my
perspective on building your wealth
check out the courses link down below
remember you get access to all the
course member live streams going all the
way back to like 2017 and all the future
course member live streams we do every
day the market is open at 5:25 a.m. uh
with rare exceptions the uh you also in
the stocks and site course get all my
trade alerts byell trade alerts so if
you uh wanted to be part of those the
last two trades I did I have to say very
proud of uh the the trade I just did
this morning was a 20K p&l and then the
trade before that was $511,000 I turned
100 into uh into a 500K gain so I turned
100 into 600 that was crazy that was
really cool uh I could have had that
same ratio if I had the same balls this
morning but I went with a smaller bed
this morning anyway uh yeah so this is
um check those courses out linked down
below thank you so much for being here
and uh we'll see you in the next one
stay tuned and buckle up why not
advertise these things that you told us
here I feel like nobody else knows about
this we'll we'll try a little
advertising and see how it goes
congratulations man you have done so
much people love you people look up to
you Kevin PA there financial analyst and
YouTuber meet Kevin always great to get
your
take even though I'm a licensed
financial adviser licensed real estate
broker and becoming a stock broker this
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it is not tax legal or otherwise
personalized advice tailored to you this
video provides generalized perspective
information and commentary any
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deemed endorsed by me this video is not
and shall never be deemed reasonably
sufficient information for the purposes
of evaluating a security or investment
decision any links or promoted products
are either paid affiliations or products
or Services we may benefit from I also
personally operate and actively man ETF
I may personally hold or otherwise hold
long or short positions in various
Securities potentially including those
mentioned in this video however I have
no relationship to any issuer other than
house act nor am I presently acting as a
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