PEOPLE HAVE NO IDEA WHAT'S ABOUT TO HAPPEN
Summary
TLDRIn 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
🙏 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.
💹 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.
📉 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.
⚠️ 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.
Mindmap
Keywords
💡9/11
💡Inflation
💡Stock Market Volatility
💡Dollar Stores
💡Layoffs
💡Bankruptcies
💡Student Loan Debt
💡BRICS
💡Cryptocurrency Scams
💡Economic Preparation
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
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