The Causey Consulting Podcast

Saturday Broadcast 4

June 25, 2022
The Causey Consulting Podcast
Saturday Broadcast 4
Show Notes Transcript

Saturday broadcast, 6/18 - 6/24

Key topics:

✔️ ICYMI news.
✔️Possible 10% unemployment rates, possible land war in Europe, possible anger explosion around the 4th of July, ARMs, foreclosures, layoffs, etc.
✔️ Teve Torbes. 
 

Links I discuss in this episode:

https://www.youtube.com/watch?v=U2-9qlwSmm0
https://www.newsmax.com/newsmax-tv/steve-forbes-recession-economy-federal-reserve/2022/06/18/id/1075025/?dkt_nbr=6F0112jf8yid
https://www.cnbc.com/2022/06/20/heres-why-this-housing-downturn-is-nothing-like-the-last-one.html
https://www.fool.com/real-estate/2022/03/22/foreclosures-are-up-700-is-this-a-red-flag-for-the/
https://www.youtube.com/watch?v=19MZgRxo9vo
https://www.youtube.com/watch?v=tjiACakvt2A
https://www.youtube.com/watch?v=g1g0zJRncIk
https://www.linkedin.com/news/story/companies-botch-remote-layoffs-5369964/
https://www.linkedin.com/pulse/what-recession-does-mean-your-job-heres-everything-gen-prudente/
https://finance.yahoo.com/news/jim-rogers-warns-worst-bear-220000086.html
https://en.wikipedia.org/wiki/Jim_Rogers
https://www.cnbc.com/2022/06/22/demand-for-adjustable-rate-mortgages-surges-as-interest-rates-jump.html
https://nypost.com/2022/06/19/uk-army-chief-britain-must-prepare-to-fight-amid-ukraine-war/
https://www.cnbc.com/2022/06/23/why-peoples-job-offers-are-getting-rescinded-days-before-they-start.html
https://www.linkedin.com/feed/update/urn:li:activity:6945428512585510912/
https://www.linkedin.com/news/story/will-recession-kill-wfh-revolution-4837177/
https://www.marketwatch.com/story/fed-says-banks-could-withstand-10-unemployment-55-stock-price-drop-in-annual-stress-test-11656016376
https://www.marketwatch.com/story/unemployment-claims-fall-slightly-to-229-000-but-labor-market-might-be-cooling-off-11655988191


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Siren courtesy of Pixabay

Hello, Hello, thanks for tuning in. So I'm actually recording this part of the broadcast on the previous Saturday evening as in Saturday evening, June the 18th. I saw this really interesting interview that Ken Langone gave to Fox Business. And he's talking about his predictions for how he thinks the economy is going to play out. And he's predicting that because we have all these dislocations, including shortages, he feels that we're going to go into a serious recession, like we saw in the early 1980s. And he also said, drumroll, please, that in his opinion, we're in a recession right now. And so I guess if you have been waiting for someone to officially tell you Ken Langone is out there saying hey, in my opinion, we're already in a recession. Yeah, as I have said before, I'm not a professional economist, billionaire hedge fund manager, professional, financial planner, advisor, etc. But Ken Langone is a billionaire. He is a professional investor. He's involved in the world of finance all day, every day. So I feel like his opinion is pretty trustworthy. And if he says we're in a recession right now, that's something that I personally am going to give credence to. I also think we can know the tree by the fruit that it bears and last summer, when a lot of talking heads and pundits were saying, Oh, this inflation is transitory This too shall pass don't worry about it. Sort of like the analogy I've been using with the cop move along, people move along nothing the scene, see keep it moving. Ken Langone was on CNBC saying I don't think inflation is transitory. If we don't get a handle on this, it is like a ticking time bomb. It is something that is going to erupt and turn into hyperinflation like we need to address this problem. So I feel that he's been right so far, and the judgment calls that he's been making about the current economic situation. So if you've been waiting for someone to officially proclaim the recession has begun, you know, Ken Langone and me are on here saying, yeah, pretty sure it's already started. Something else that I wanted to make note of, I went to the store this evening, and there were certain aisles that were like a war zone. You know, some of the things that I had been hearing about going on in the larger metropolitan areas, more densely populated areas. And on the coasts, some of that stuff is starting to finally travel inward to the Midwest. Now, I'm not going to sit here and tell you that there was just no food at all. And it was a barren wasteland. It wasn't, it was just certain sections of the store. So for example, the aisle where they keep the sports drinks and the Gatorade, that was insane. About 50% of the product that would normally be there just wasn't just empty shelves, the items that were down that aisle, a lot of things were like disheveled and in disarray, and you had to like dig to try to find a product that you wanted. I thought that was unusual. All the paper products have gone up again, all of the meat had gone up again. Like the lower more economical types of shampoo and conditioner, those were getting difficult to find. I also struggled to find some dishwashing detergent. Now there was still a lot of dishwashing liquid like liquid soap. So if you're going to stand at the sink and wash your dishes by hand, there's still quite a few bottles of dishwashing soap, but not a lot of dishwashing detergent that was available. I also noticed that the feminine hygiene aisle was also like a warzone there, there was a lot of things that was missing. The things that were there were just shoveled and you know some of the packaging was not in good shape. So you you could find pads, but the tampon shortage has been happening around the country. That's something that's starting to happen now in my part of the Midwest. So I'm not saying this to try to scare anybody, I'm really telling you this to say like even if you live in a small town somewhere and so far, the stores have been staying stopped. us want to keep keep an eye out. Keep yourself aware. Don't assume that because everything looked good during your weekly trip today that you might not see some shortages by the time you go next week. I also think it would be smart to provide yourself with some kind of hedge against inflation. That's like the cheap Walmart toilet paper that had been like 68 cents forevers 84 cents now. So even though that doesn't sound like a lot, I get it. Once you spread all of these things out across the store where this is $1 more, that's 50 cents more. That's 25 cents more, that's $3 More, it all adds up. So then by the time you get to the cash register, it's like man, in order for me to stay on budget, this basket has a lot fewer things in it, or it may be that you have to tighten down on your budget and choose things that are not name brand, you may have to go with more generics, or you may have to succumb to shrink inflation. And that's really what I did with the dishwashing detergent that I needed. I was able to find a bottle of, you know, a pretty a pretty decent product, I would say. But I remember when for the same price, the bottle was about probably 30 to 40% larger. It's like, well, having some dishwashing liquid is better than having none. So these are some of the choices that I think we're not only making right now, but we're going to have to make more of in the coming months. Just my opinion. I could be wrong, but that's what I see coming down the pike. On Sunday, I read an article where Steve Forbes is saying we're in a recession now. And it reminded me actually of Dr. Strange telling Tony Stark, we're in the endgame now. Because in my opinion we are. So at this point, you have myself, Ken Langone, and Steve Forbes telling you Hi, hello. We're in a recession now. And it's funny to me, because when I hear Steve Forbes name, I don't immediately think about him as a millionaire and a former presidential candidate. I remember this skit from SNL back in the 90s, where I think Darrell Hammond played Ted Koppel, Steve Forbes plays himself and they were doing a satire on that book, primary colors. And so Steve Forbes had written a book where he talks about himself as Teve Torbes. So the very first thing I think of to this day is always Teve Torbes. So myself, Ken Langone and teve torps are telling you, the time is now gang The time is now. So I want to read part of this article for you. Now, of course, I will drop a link to it in the write up so you can check it out for yourself. The United States may not be in an official recession yet, according to the federal government. But the nation is in a recession now. And 10s of millions of American families already believed the worst is happening, because prices are going up higher than their incomes. And their savings are being rapidly depleted. Steve Forbes editor in chief of Forbes Media told Newsmax we're in a big mess, and we're already going to be over a cliff on the economy. Forbes said on Newsmax is Rob Schmidt tonight on Friday. Unfortunately, the Federal Reserve believes that the only way to control inflation is by crushing demand, ie creating more unemployment, making people poor, let's be blunt about it, when they talk about a soft landing or trying to slow the economy down. That means making people poor, there is a better way that has that has done it in the past. And that is to stabilize the value of the dollar. But instead they're going to punish the American economy and quote, yeah, so from an HR and staffing perspective, I want to go back and highlight an important part of that, quote, unfortunately, the Federal Reserve believes that the only way to control inflation is by crushing demand, i e, creating more unemployment, and, quote, be aware. I know that right now, if you Google it, the statistic will bring up something like a 3.6 or 3.7 unemployment rate across the country. I personally don't believe that that's accurate. There is a lag time between what is happening in real time out in the economy out in the job market, versus what gets reported. So you want to be aware, especially when the ground is shifting beneath our feet, things are happening so quickly, news is breaking so quickly. It may not be accurate anymore. A statistic that you pull up online, especially from something earlier this year, may not still carry water right now. I also saw an interview on CNBC with a pollster and political strategist named Frank Luntz. And he made some really interesting points to he's talking about how Fourth of July Thanksgiving and Christmas are the main times in America where people hit the road, they're using more gasoline, they're driving their car to take trips to go see friends and family maybe in other parts of the state or other parts of the country. And they're also really loading up at the grocery store on food. And fourth of July is kind of cook out and barbecue season. In America. A lot of people that have the means to cook out or to go to somebody else's barbecue do so. And he was talking about how like 2009 was really the last time where people were kind of like, Oh, I think I can really afford to do anything for the floor. I don't think we can really afford to have a cookout. I mean, we didn't it it immediately caused me to go back in my mind and think about those great recession years where we didn't cook out we didn't have a barbecue. I mean everything was so pinched you had to make every dollar stretch so much and it's like well if you have to choose between buying, you know, like toilet paper and laundry soap or getting chicken breasts and hamburgers to have a cookout I mean, you know, obviously you need food to live but if you can cut out the extra barbecue, You are hanging out having beers with your friends and just stay home. That's what we did. So I think we may see more of that this summer if we don't I mean, I think another scary possibility is people going and blowing a lot of money at the firework stand, paying exorbitant amounts of money for food, and then realizing holy poop, we probably should have saved that money. I it could get scary out there it really good. So this video on CNBC was created on June 17. And at that point in time, Frank Luntz was saying that he believes we're about 13 days away from the sentiment explosion on inflation, meaning when people go in, in his in his theory and his conjecture, when people go to the grocery store, they try to get ready to have their Fourth of July blow out, they want to cook burgers and chicken on the grill, they want to have some beers and want to pop off their fireworks when they get to these places. And they see how much more it's going to cause them to do that this year. And they either have to just feel the pinch and do it. If they're that committed to having the cookout and the party, or they have to go without they're going to be pissed off. Frank Luntz, also sort of based on his research is saying that he thinks there will be further pinch at the grocery store sometime in the early fall, meaning right now in a lot of places, you can still get food, you can, generally speaking, get most of what you want, it's just going to cost you. And that's also what I'm seeing at the store. When I go every single time that you go, it costs more than than it did the week prior. Although as I told you in the episode, or the parts for this episode I recorded last night, there are sections of the store that are starting to look like a warzone. And there are some areas where the shelves are starting to get bare. But generally speaking, yes, you can find food to eat, it is just going to cost you. So in his research, in his opinion, he thinks that the shortage is where you go to the store and you can't find what you want, even at an exorbitant price is probably going to hit sometime in the early fall. He also in this interview points out that people are waking up to debunk the myth that this inflation is transitory because we were told that when prices started to get high, and people were like, wait a minute, what's going on here we were told by numerous talking heads that this will pass you know, nothing to see here move along. People now know, when they go to the gas pump, it's more expensive and they go to a grocery store. It's more expensive. It's not abating clearly it wasn't transitory, either that or somebody's definition of transitory is a hell of a lot different than it is for the average consumer people are starting to wake up to that reality. Finally, his prediction, excuse me, his prediction, according to his polls, is that well over 40% of Americans will feel like inflation is the the main problem in their life. Apparently, right now, about a third of them do according to his polls, which is shocking. I'm not sure sort of who the average person on the street is that he's talking to. But it's like, how can you not feel that that's a major problem in your life right now. I I'm shocked. There hasn't already been an explosion of people saying This needs to stop immediately. This is nuts. from an HR perspective, Frank brings up another point that I think is super important. So in his assessment, he feels that Trump Miss identified the stock market as the barometer that most Americans use to determine if the overall economy is doing well or it's doing poorly. And in Frank's assessment, the Biden administration is making the mistake of thinking that the job market is the barometer by which the average American says yes, the economy is doing well or no, the economy's doing poorly. And Frank's point is that inflation touches everyone everywhere. So you have this potential. long hot summer summer of discontent, winter of discontent brewing, where people are going to say, sort of, regardless of class or economic status, hey, this this crap has to end this is too much this pinch is too hard. And I guess it disturbs me in the sense that he talks about in this interview that very few people are feeling insecure about their job or worried about the job market overall. From from an HR perspective, that scares me, because I do think in my opinion, that unemployment is currently higher than what's being reported. And when you look and see layoffs, hiring freezes or send it offers cutbacks, we're going to cut back on hiring whatever kind of spin that an individual company or the news media might be trying to put on it. It's all leading down the same road, which is recession, higher unemployment, and I do applaud Teve Torbes, aka Steve Forbes for calling it out and saying, creating more unemployment. I agree. I feel like that's where we're headed. I don't see any way around it. Companies exist to make a profit. They exist to make money they answer to their investors and their shareholders. They don't answer to me. They don't answer to you. They don't answer to the average person out on the street that's giving an interview or answering a poll. They don't, they are in business to make money. And I think some of the people who have drank too much of the Kool Aid that they've seen on social media about pandering and marketing, and oh, this month, we care about pride, because it's pride month, next month, we don't care. We care about diversity, equity and inclusion when you know, it looks good for us out in the press. But otherwise, we don't give a rip. Too many people have been drinking the Kool Aid, I think, and they have forgotten that these companies exist to make money. That is their goal. And if their prices go up, and they're unable to get as much stock as they need, when people are not buying their products, and they're cutting back because they need that money for other things, they're going to lay people off, I just don't see any way around it. I'm not a professional economist, financial planner, or advisor. I don't sit on the World Economic Forum, and I'm not a power broker. I'm just a private individual reading the tea leaves going ooh, yikes. This doesn't look good. And, you know, will Frank's prediction come true that along about the Fourth of July, more people are gonna wake up when they can't have the barbecue and the cookout. They can't fill up the gas tank and go to grandma's house and have a big fireworks blowout with the family? I don't know. I think it'll be interesting to watch and see how that plays out. I still scratch my head at people that haven't woken up yet. So if the inability to have a big Fourth of July blowout is the thing that wakes them up and makes them say, Holy poop balls, what is happening here, maybe it's not such a bad thing, because I do think that the more people who are aware of what's going on in the economy, aware of what's going on in the job market that can prepare themselves and start going into recession mode, the better. I don't like to see people suffer I don't want to see people get evicted get foreclosed upon have the car repoed. So the more people that wake up to reality, the better in my opinion. On Monday, we saw headlines on Yahoo Finance, like recession fears royal markets amid inflation office where there's no going back to dry cleaned clothes. Yeah, I think that's kind of a fait accompli, especially if we do go into a deep recession. The idea of having to wear business suits and take them to the cleaners is probably going to go right out the window. Renewed concerns about inflation has the Fed triggered. Here is a silver lining for the looming stock market crash. The housing market just hit a wall what's next for prices brokers and builders stocks? We also have I want to retire next year. But I have $25,000 in credit card debt and a major monthly mortgage payment. I also live with my three kids. And I'm sitting here like how are you going to retire? Why are you even thinking about that man? I don't know this person's age or their situation. But wow. Also have stocks historically don't bottom out until the Fed eases. If you mosey over to CNBC, we get headlines such as inflation and recession fears are squeezing some industries more than others. Look for more selling pressure in the week ahead as investors learn the hard way not to fight the Fed. Oh boy. The situation is serious. Germany plans to fire up coal plants as Russia throttles gas supplies. Crypto lending firm Celsius asks users for more time to fix issues after halting withdrawals, sweltering streets, hundreds of homeless die in extreme heat. How awful. The system is rusty executives defend industry as airlines canceled scores of flights. Russia pounds villages in the Donbass moto pole residents said to be on the brink of survival. We also have the article. Here's why this housing downturn is nothing like the last one. I want to pivot over there real quick and read read the little blurb for you. So in their key points underneath the headline, which is sort of the TLDR for the article. It states the housing market has cooled off a bit after an incredibly hot stretch fueled by the pandemic. That doesn't mean it's about to be 2007 all over again. America's housing market is in far better health today. That's thanks in part to new lending regulations that resulted from that meltdown. There aren't as many risky loans or mortgage delinquencies, although high home prices As are forcing many people out of the market and quote, if you read my blogs, or you listen to this podcast with any frequency at all, you already know that mirrors the kind of twaddle that was peddled to me when I was on my real estate quest. This is not 2007 or 2008. It's not a bubble. These companies are not giving out risky loans anymore. Everything is like so much more careful. You're totally safe now. And I'm like it's rare in life that I'm just totally and completely speechless, but I'm on the border of it, because it's almost like what do you even say, to something like that? How do you even respond? It's crazy. There was an article published on the Motley Fool. Of course, I'll drop a link to it in the write up so you can read it for yourself. It was published on March 22 of this year, titled foreclosures are up 700%. Is this a red flag for the housing market. And the little opening paragraph we read January 2022, saw a massive jump in the number of foreclosure starts with Adam Data Solutions reporting 23,204 foreclosure filings a 700%. Year over year increase. According to Blacknight. Rising foreclosure rates aren't great news for the housing market because they could be an indicator of distress, as foreclosure steadily rise. Could this be the first red flag for a housing market correction and quote, as I've said before, you always want to use good judgment, and Caveat emptor, let the buyer beware. Especially if you are listening to people or taking your cues from people who have a vested interest in getting money out of you. I can remember times talking to various realtors and brokers, excuse me, where they would propose all kinds of things. Well, why don't you just take your livestock you know, find some pasture somewhere that's at least got some barbed wire fencing on it. Take all of your animals out there. And then maybe you could like, live in a tiny house. Or maybe you could get a tuff shed from Home Depot. Or maybe you could just find a used house trailer for pennies on the dollar somewhere and park it out there and build everything. Maybe you could do this. Maybe you could do that. Now I myself wouldn't do that. But I'm happy to take your money and make a dumbass suggestion to you that you should do it rules for V but not for me. I'm not I wouldn't live that way. But you know, you could. And I'm sitting there like that is not even almost an option. This is supposed to be an expansion. This is supposed to be an upgrade. This is not supposed to be me selling out to go live in a shed on a property that doesn't have anything but barbed wire. No utilities run to it. No barn, nothing like why? Why would I even consider doing that. But you know, they're happy to propose all kinds of suggestions and helpful hints to you that aren't helpful at all. It's all about them lining their own pockets. So you just want to be really careful about anybody who's who's putting out a message right now toxic positivity, toxic optimism, or nothing to see here. People move along, move along. There are some people down the road for me who I feel like are the prime example of the grasshopper who sang all summer. And I'm gonna put a disclaimer up here. I don't know the situation. Maybe they want a lottery somewhere. Maybe they sold a house in a much more expensive part of the country than the Midwest and they got a million dollars free and clear from their home sale. Maybe Great Aunt Harriet was worth billions of dollars and she left them a sizable inheritance when she passed away. I don't know. What I do know is that they are blowing through whatever money they have, or whatever credit they have as fast as they possibly can. So they bought this house down the road last year last summer when that FOMO that intense hot market was at its peak, and they overpaid but this is all public information by the way. So if you don't know how to look up real estate on the internet get educated because all of this is public Intel. So they bought this house and they paid I'm gonna make a conservative estimate. I know what they paid for it and it was a good $100,000 overpriced, I would actually say it was probably kissing the edge of being more like 125 Maybe even 150k overpriced for the house itself, the size of it, the location, that condition it was in the size of the property that goes with it, etc. I think they overpaid by at least $100,000 And they have stuffed as much stuff as they possibly can into this place. I mean It's insane. They have boats, canoes and kayaks, they have multiple ATVs. They have those like little fake motorcycles that little kids ride on that are not cheap. They have two pretty expensive looking trucks and one pretty expensive looking gas guzzler SUV at the house all the time, a travel trailer, multiple trampolines, and a jungle gym. And that's not even to say whatever might be inside the property, I'm sure by looking at the outside of it that they have every electronic gadget and doodad known unto man. So you are they independently wealthy, did Great Aunt Harriet leaves him, you know, $500,000 when she passed away, I don't know. But one of the things that I told my broker whenever I was looking is even if I won the Powerball tomorrow, and shaving a million dollars off of it was not a problem whatsoever. I wouldn't want to go and pay a million dollars for a piece of crap junk house. I wouldn't keep the money that I had won from the lottery for very long. If I was stupid with it, if I made stupid choices, you know, maybe you've heard the phrase before, people who play stupid games win stupid prizes. I kind of feel like that's what's going on with the people down the road that are like the grasshoppers that sang all summer. And when they're also by the way, the type of people that have already gone to the firework stand and plunked down God knows how much money on expensive fireworks because they're not popping off. Like you know the little pockets, you can get at the store for two or $3 a package NaeNae they're out there popping off the expensive fireworks the kind that you like companies and municipalities pop off for a professional firework show already, where it's not even close just yet to the Fourth of July. I'm sitting here recording this portion of the Saturday broadcast on Monday, June the 20th. And this past weekend, they were already out poppin off these loud, expensive firecrackers and fireworks that would be used by a city government for the Fourth of July celebration for the whole town to enjoy. And I'm like, wow, wow, when the smackdown comes, they are going to be feeling it hard. And look, you know, hashtag real talk. I'm always very transparent with you guys. Nobody out here in this area is gonna be sad to see them go because they're loud. It's not just loud, obnoxious fireworks. It's the loud obnoxious parties and people roaming around and just being loud and noisy. I have never in my life seen children like that, that would scream. The only way they know how to play is to scream like somebody is murdering them. I don't know what the situation is with that. But it's super loud and annoying. So, you know, look, people, people who are blowing through money as fast as they can get it people who are racking up credit card debt and playing it for a joke, they're gonna be hurting. At the very least if you talk about people that are running up credit card debt on foolish BS, as the Fed continues to hike interest rates that's going to have an impact, not only on your overall credit score and your borrowing abilities, but on whatever credit card debt you're carrying right now. So you want to be careful. You want to be intentional. I assume if you're listening to this broadcast today, you're already a cut above the general public that's like blah, blah, blah. Nothing to see here. Okay, CNBC says it's nothing like 2007 I guess they're probably right. You're already cut above that. And you're not the grasshoppers that saying all summer wasting your money on frivolous nonsense or running up a huge credit card debt to buy kayaks and jungle gyms and dropping 1000s of dollars at a firework stand. Keep your head on us on a swivel, stay prepared, stay alert, not paranoid, but just prepared. On Monday afternoon to move towards our old friend, they're made an appearance on Fox Business to say that the economy is going down, and that we are in for rough times ahead as the recession is gaining momentum. This on the heels of the White House saying that actually a recession is not inevitable. Meanwhile, if you go to Google Trends, and you look at how many people now are Google searching recession, you will see that it has been quite some time since we've had this much interest from the general public in learning what a recession is and how to spot the signs. As of this recording on Monday afternoon for my Saturday broadcast interest by sub region breaks down like this. Number one is Washington DC to Massachusetts, three California for New Jersey and five Washington State. related queries are things like is the US in a recession, Great Recession of 2008 What is the Great Recession is a recession coming? What is the recession in the economy? So I do believe if we can find a silver lining to this. I do believe that More people are coming out of their slumber. And they're starting to wake up to reality and say, Okay, wait a minute, maybe it is time to pay more attention. Maybe it is time to get educated on what's going on. I fully support that, as the old cliche goes, knowledge is power, and it's very true. On Tuesday, if you decided to go to the side panel of LinkedIn to look at their news headlines you saw things like Goldman Sachs says that the recession risk has doubled. Tesla layoffs to cut headcount by 3.5%. Oops, Wall Street forecast was all wrong. US studies Ukraine war options, a dead cat bounce for stocks, Florida scam claims through the roof. If you zoom over to CNBC, you'll get a mixed bag of headlines today. We have Dow jumps 700 points as markets come back rally gained steam with an hour to the close. Stocks up stocks. Stocks up are up. That's a typo they have their stocks up are up 2.5% Tuesday. Here's what happened every time stocks popped this much this year. Sales of existing homes fell in May and more declines are expected. I definitely think that that will be the case. DOJ settles lawsuit with Facebook over allegedly discriminatory housing advertising. Goldman Sachs raises recession probability odds cuts GDP outlook. Elon Musk clarifies that Tesla will lay off 3.5% of total workforce as ex employees through the company. If you jump over to Yahoo Finance, you will see target CEO says inflation and inventory issues like we haven't seen before. Burgers are recession proof. Maybe that's true. Suze Orman's advice on buying real estate right now the tables have turned, Wells Fargo sees a recession brewing by next year. Here are three stocks it is keeping behind the emergency glass. A couple of days ago, Dave Ramsey released a video on YouTube, of course, I'll drop a link to it so you can watch it for yourself. And the title of it is this is not another Great Depression, Dave Ramsey rant. One thing that I will 100% say that I agree with in his analysis in this video is the idea of operating from a place of fear. And panic is not a good strategy. It isn't. And I do understand I have compassion because I've been there. And I understand that sometimes we get into a space where we are overwhelmed with fear. But as much as you can to stay out of that place of panic and abject terror, the better off you'll be. As he points out, your lizard brain kicks in and you are making decisions from a place of fear and terror. And very often in life, those decisions are not good decisions, you're not calm, you're not able to zoom out and see the big picture and think rationally, you're just in this, what I call scurrying mouse vote, you're over here and you're over there and you're freaking out and the sky is falling and it's awful. That's not a good strategic, calm, rational, cool headed space to play in. I also agree with him that I do not think that the world is coming to an end, whatever is going to happen here. If we do you have, let's say a repeat of something like the Great Recession, for two or three years, things will be tight, and times will be tough. But we're not going to have zombies in the street, we're not going to have Mad Max Road Warrior mean, things will rebound and get better. I myself don't personally believe that we are in the apocalypse. And we're all getting ready to die. And we should run around in panic mode. I don't think that at all. I do think it's important to be prepared and to feel that you have some kind of contingency plan. Because what if it's worse than the Great Recession of 2008 to 2010? I hope it's not. And I'm not saying that it will be. But I do think that one way to alleviate panic is to feel that you have a game plan in place and you know that you could survive. As Mike Tyson said, everybody has a plan until they get punched in the face. So it may be that your game plan needs to change. You may have to do some improvise, adapt and overcome. But at least you've thought about it. You've gone through as rationally and calmly as you can. And you thought about your personal strategies. You haven't buried your head in the sand and pretended that we're in sugarcane and gumdrops land, but you've kept your wits about you. There's a couple of comments on this YouTube video that I want to read. Beyond tribalism, rights people forget how good they haven't typing from an iPhone in a nicely insulated house with running water and electricity about how we're in another Great Depression. People were living in shacks on dirt floor sharing a can of beans between an entire family during the real great depression and quote, twisted pine ranch writes the main cause of the Wall Street crash of 1920 89 was the long period of speculation that preceded it during which millions of people invested their savings or borrowed money to buy stocks, pushing prices to unsustainable levels. Does that sound familiar? I won't say we are about to go into a depression, but the similarities are there and quote, food Dog Whisperer writes, he has a lot of great advice. That being said, throughout history, whenever there has been a Currency Reset, there has been more poverty and famine this time will be no different. I don't think Dave is aware of the currency resetting and the implications of that and quote, in fairness to the argument, it is worth pointing out that about 12 days ago, Dave Ramsey also released a video titled Why right now is the best time to buy a house and in parentheses, it says don't wait. So when I saw that, I honestly thought that it might be sarcasm or some kind of clickbait. So I thought, you know, this is definitely a situation where you need to watch the video in its entirety for yourself. And don't just go based on the headline. So I've listened to the video. And in his theory, he is saying that he believes that home prices are as low now as they will be for the next five years. So if you wait thinking that the prices are going to drop, you're wrong, because they're only going to get higher and higher and higher over the next five years. That's definitely a bold statement and a bold prediction. The off the top of my head, the only other people I know of right now that are saying that type of stuff are realtors and brokers that are trying to part you from your money. They want you to do some panic buying, they want you to stay firmly in FOMO. And to think well, dammit, even if I need to overpay for this house by two or 300%. That's better than having to overpay by six or 700%. So deep heavy sigh I guess I'll go for it. That's definitely not the decision that I made. I'm still feel very good about my choice to strategically quit, and to sit on the sidelines and wait to see how it goes. As you know, I've really been enjoying Orlando miners commentary. And I, it's hard for me to just imagine that prices are not going to go down. We're seeing it already. But with that being said, and Orlando points this out in his videos, which I give a lot of props to. If you have a house, let's say they've listed it for 600,000, the actual price of it probably ought to be 300. But they've priced it at six. And then they do a price reduction of 100k to 500. It looks like they really did something amazing. But not really because if the house is worth 300 And they're still trying to sell it to you for 500, you would still be overpaying so I am not sure exactly why he's out there telling people right now is the best time to buy. Who knows maybe it will turn out that he's right and the other people are wrong. I'm not sure but I myself would not want to make that kind of a deal with the devil right now. There's just no way. So we've made it to Wednesday. If you zoom over to LinkedIn news, your side panel will have headlines such as more companies yanking job offers companies botch remote layoffs, FDA set to vaporize dual boomers are exhausting their 401 ks Bubble Bubble bad news for housing filler up drivers say no thanks, JP Morgan laying off home lender staff. Yep. So you may remember in the last Saturday broadcast, if you tuned in, I talked about how there was a major news outlet seeking quotes about how to lay people off if your entire workforce or a majority of your workforce is remote. In other words, we're planning on more layoffs happening. But how do you do that when your workers are not but in seat you can't call people into a conference room and say hey, I'm sorry about you. But today's your last day, so I am not at all not at all surprised to see this headline of companies botch remote layoffs. It's sad, but it's not shocking. I'll drop a link to the article so you can see it for yourself. But I'll read the blurb written by Sondra Latham, one of the editors one of the 10,000 editors at LinkedIn news. Giving employees bad news is uncomfortable no matter what. But the rise of remote work brings new questions about the etiquette of firings and layoffs. Axios reports. companies including Carvana and Coinbase have been slammed for insensitive virtual firings. And as the economy softens, experts warn that employers must still take care when delivering pink slips. For instance, a private video call is always better than email or a group called they say an employer should resist the temptation to revoke remote work access without warning and quote, whoa, that doesn't sound good at all at all at all. There was also an article that popped up in my notifications. And it was titled What is a recession and what does it mean for your job? Here's everything Gen Z needs to know published today which is June 22 2022. I'll drop a link to it as well so you can check it out for yourself if you want to. First things first, I'm going to say They're a little bit late to the party, they should have been writing, in my opinion, they should have been writing about these kinds of topics quite some time back. I mean, by the time you're in a recession, you're already behind the eight ball in thinking about what you would need to do to plan for a recession. So it's sort of like playing catch up when you when you're already a little bit behind in the game. So if you're over the age of like I am, it's gonna make you feel old, quite frankly, to read this because they talk to Jen's ears were like, Yeah, I was alive then. But I was a grade school kid. So like, I don't really remember the great recession of 2008. I'm like, 2008 feels like it was a blink in the eye. To me, it still feels like the 80s and 90s. Were a blink of the eye away from where we are right now. It doesn't seem like that's been, you know, 3040 years ago. Oh, my God. So it's gonna make you feel old. But it's like, people are sort of waking up to the reality now of like, well, yeah, I was alive back then. But I was a kid, my parents were paying all the bills. So I haven't actually like lived through a recession as an adult. Hello. So on the positive side, better late than never, I guess. I mean, it's good that they're trying to do something here. They're trying to contribute to the discussion. I just don't know, in my opinion, if they're going about it the right way. Here's here's one, something that I want to read to you from this article. Now that you know what a recession is, what does it mean for the security of your job? Sometimes when people hear the word recession, they automatically panic, they start to internalize it and think it's going to impact them. That's not necessarily going to be the case. So Sarah Johnston, a career and interview coach who entered the workforce, during the Great Recession, in quote, boys and boy. Now, just to be clear, I'm not going to be Smerch anybody else's credentials. And as I have said before, it's not somebody's fault that they were born at a particular time. It's just not, it's not my fault that I have no memory of what it was like to live through the Great Depression of the 1930s, or what it was like during World War Two. I wasn't alive back then. My parents who were Baby Boomers were not even alive back then my grandparents and certainly great grandparents were. And they knew a great many things that have sort of been lost generationally. Now. It's not anybody's fault. If they were just getting out of college in 2008. The point I want to make here is, because you're listening to this broadcast, I feel that you're already smarter than the average bear, you're a cut above the general public that's like, whoa, what's going on? I don't know, speaking solely for myself, I don't know that I would want to take career advice from someone who lived through the Great Recession, in a career capacity, just barely, I don't know that that's a choice that I would want to make. I think speaking only for myself that I would probably want to interact with someone who was in a different place in their life, they had a mortgage, they had a 401k, they had adult responsibilities, and they had to really survive that period of time, a little bit further into the adult responsibility world. That's just me, like Dennis Miller said, that is only my opinion. And I could be wrong. But I do think it is important to get strategic and intentional about who you are listening to. Another analogy I've used if I wanted to learn about the Great Depression, would I go and speak to someone who is 100 years old, who was alive back then, and can tell me in detail what they did and did not do, or what I talked to a 16 year old kid who read about the Great Depression in their textbook. For me, it's not even a contest which direction I would go in. So we want to use some common sense and some good critical thinking. If we scoot over to Yahoo Finance, you will see headlines such as stocks mixed as Powell calls recession a possibility. All three major indexes. I'll just correct that two indices gained more than 2% during Tuesday's trading session, the stock market's best day in three weeks. JP Morgan's JP Morgan's mortgage business tried to say that three times fast JP Morgan's mortgage business is slashing workforce. Analysts remain unusually bullish about s&p 500. Stocks the R word how Biden has framed recession risks. travel delays to continue as airlines remain understaffed market check stocks mixed crude oil plunges treasuries drop, Jim Rogers warns of the worst bear market in his lifetime. These are the least dangerous assets to own today, Rogers knows a thing or two about making money in turbulent times. Now I want to click on this and read part of this article about Jim Rogers for you here naturally I will drop a link to it so you can check it out for yourself. Let me scroll Down with the s&p 500 down 21% year to date, the situation for stocks is pretty grim. But according to legendary investor Jim Rogers, it's just the start. This has to be the worst bear market in my lifetime, which means it will go down a lot and it will last a long time. The 79 year old told ET Now earlier this month, Rogers knows a thing or two about making money in turbulent times. he co founded the quantum fund with George Soros in 1973. Right in the middle of a devastating bear market. From then till 1980 the portfolio returned 4,200% While the s&p Rose s&p 500 Rose 47%. If you are looking for a safe haven, Roger says there's no such thing as safe in the world of investments. Still, the multi millionaire points to two assets that could help you withstand the upcoming onslaught and quote, so unlike myself, you know, I am not a billionaire. I'm not a hedge fund manager. I don't rub shoulders with the power brokers, I don't sit on the World Economic Forum. But Jim Rogers is an experienced investor, he is a multimillionaire, and he's been around longer than I have. So at the very least, I think it's worth setting up and paying some attention to what he has to say not necessarily that you have to agree with it. But just it's worth filtering this information and to see what you think. If you go over to his Wikipedia page, you will learn Rogers has been periodically bearish on the US stock market since the 1980s, notably 8798 99 and 2008. In February of 2018, he reportedly predicted that the next bear market would be the worst in our lifetime and quote, hmm, there's some food for thought there. You know, when you look at the times that he's been bearish in his predictions, they're pretty spot on. Now, does that mean okay, I feel the need to make a disclaimer here. I'm gonna feel some of you getting testy. Does that mean that he is correct in saying this bear market we've got going now is going to be the worst in our lifetime? No, it doesn't. He doesn't know 100% For sure, just like I don't know. And you don't know. This is just information for your decision making or for your entertainment. And that's all. Now if you read this article on Yahoo Finance all the way through, you will find at the bottom a little side path or a little suggested reading what to read next at the bottom of the article. And the very last thing on the list is millions are struggling to crawl out of debt in the face of rising interest rates know your options and quote, but yet, there are people out there telling us nothing to see here, Move along, move along. Everything's Healthy People have a ton of money and savings. They're doing great. Nobody's making those junk mortgage loans anymore. Nobody's doing anything predatory. Predatory, predatory. Nobody's doing anything predatory. It's all good. Don't worry about it. Um, hello. Hello. Over on CNBC, you'll find the article demand for Adjustable Rate Mortgages surges as interest rates make biggest jump in 13 years. Yeah, this is another example where I feel like I'm living in a time loop. I mean, this is exactly what happened before. So I'm not a mortgage broker or financial planner, etc. Make sure that you get good insight and good information. If you are thinking about taking an arm. Get good insight, good information. Get as clear as you can on the product that you're utilizing and how it can impact yourself, your family and your finances. Don't go into it blind. And be careful about listening to anybody who has a vested interest in selling you something the more objective, and dispassionate someone can be about giving you advice, the better in my opinion. Now, there may be a headline that you missed this week. I personally don't remember hearing anything about it on like mainstream television news. Maybe they reported on it and I just wasn't engaged. I don't know. But I don't remember hearing anything about this. I'll drop a link so you can see this for yourself. It's in the New York Post. Although there are other outlets online carrying the story. UK army chief warns that Britain must prepare to fight over Ukraine. I'll read a bit of it for you here. The United Kingdom's new army chief has warned that British soldiers must prepare to fight in Europe once again amid the Ukraine Russia war and as concern is mounting that Belarus troops could join the Russian invasion. General Sir Patrick Sanders, in a message to his soldiers said Russia's attack on the Ukraine underlines our core purpose to protect the UK by being ready to write and win wars on land, according to Sky News, and, quote, musket down a little bit where he also is quoted as saying we are the generation that must prepare the army to fight in Europe once again. That definitely sounds a bit scary. Also, in this article, we learned that Belarus will be holding military exercises I guess this month and next month. And allegedly those are a cover for some kind of impending invasion. Should. Let's see, there's another quote here these drills will cause serious concern because unfortunately, Russia and its allies have consistently been using military drills as a mask to cover their aggressive actions. We also see that Lukashenko who's the leader of Belarus has said that he predicts World War Three will happen if Western nations keep providing weapons to the Ukraine. Will that happen? I don't know. I truly don't know. But I certainly think this is something else to put in the funnel for information for our decision making. Could a war be brewing up in Europe? And if Britain gets involved in it, what are the odds that America would somehow set it out? I find that a bit hard to believe. So this is something else to sort of put into our funnel of what's going on with the economy. How could this impact the job market? How could it impact my day to day finances, just some food for thought. On Thursday, if you visited the side panel for LinkedIn news, you saw lovely headlines such as Netflix lays off hundreds of staffers, police tech startup cuts staff, Alexa, raise the dead. That's another one of those things like the Google AI bot saying it has sentience and has a soul. I'm not even gonna go there. That would be a broadcast for another time. But the idea of having Alexa mimic the voice of a deceased relative that that gives me the creeps for real risk of global recession is on the rise. Tesla factories losing insane money, daily harvest faces recall over dish and Abbott FDA looks into baby deaf, terrible. If you go over to CNBC, you will see it you will see CNBC, you will see an article titled it's almost unbelievable. People are having their job offers rescinded days before they start. And that was published today at about 247 Central time. I want to read a portion of this article for you here. And it really highlights why I have been so passionate about trying to get the word out. I've been commenting on things on YouTube, I've been publishing blog posts, I've been publishing things on Facebook and LinkedIn. Even though I'm pretty sure the LinkedIn algorithm hates me right now. And I've been recording these broadcasts when doing the Saturday emergency broadcast for a reason. And what happened to this person just highlights why it is so important for me to keep sounding the alarm. I hope that I am going to pronounce the name correctly. I really hate to mispronounce people's names. And I'm also horrible with names I'll never forget a face but names are sometimes dicey for me. So I'm going to try my best with this and I do apologize if I mispronounced the person's name. Join ease. speller was excited to start a new job as a project delivery specialist for a healthcare company on June 6. As she wrapped up at her old nonprofit job on a Friday she emailed her new company to confirm her start time on Monday. Hours later, she got another email the company had some logistics to work out on their end. So speller would actually start on Tuesday that slid into Wednesday and then Thursday. On Friday, speller got a phone call due to budget cuts. The job she hadn't even started yet was being eliminated. I was told they were trying to find me a position a different department, but it's also the end of their fiscal year so they're taking a long time to get back to me speller. 26 of Charlotte, North Carolina tells CNBC make it I left one job thinking I was going to another so I wasn't financially prepared for what was coming. Going back to her old workplace, which she says was toxic and had high turnover wasn't an option that she needed to pay for a car repair and care for her full your four year old son. She's been doing DoorDash deliveries to make ends meet for the past three weeks. After taking a few days to process her resend a job offer speller fired up LinkedIn to apply for jobs and saw more news of major companies doing layoffs and taking back offers. I didn't realize it was so prevalent until it happened to me, she says and quote exactly that. That is why I'm on the airwaves. You don't have other things to do during the week. And I have other things to do on a Saturday morning besides publishing and trying to do post production for an emergency broadcast. But I just don't want people to get caught off guard. And what happened to this woman is I think exactly what's going to happen to more people I didn't know this was going on until it happened to me. By the time it happens to you. It's too late. You're faced with the crisis and you have to do what the crisis demands to survive it. I'm going to scroll down and read a little bit more of this article for you now, going from rapid hiring to rescinding offers on mass is highly unusual. The most recent Labor Department data shows that the US labor market is still tight and workers have more bargaining power than ever. Job openings and quitting rates have shot up in the last year while unemployment ticked downward. As of April there were roughly two job openings for every worker who wanted one. Keep in mind I'm gonna bet And just for a second say okay as of April, it's almost July, things can change, I'll continue to rate. But over the past few weeks, many employers started scrambling to tighten their budgets due to rising inflation rumblings of a looming recession and swings in the crypto market. tech giants like Uber and Mehta said that they'd be scaling back hiring while others including Robinhood, peloton and Carvana, conducted layoffs and quote. And then I guess in some attempts to sort of end on a high note, they have this little section at the bottom that says despite volatility in some sectors, it's still a job seekers market. And I'm like, is it you have to be careful out there. I'm going to say regardless of what industry you're in, regardless of what type of role within a company that you're looking for, you want to make good, careful decisions right now, you want to stay aware of what's happening in the market, so that you don't get caught off guard by some sudden layoff or some sudden rescinded offer. And then you have to try to scramble around to figure out what are you going to do? I understand, believe me that sometimes in life, poop happens. And we're not prepared. When the doodoo hits the fan, and it sprays out all over us, we are not prepared. That's why there's a bumper sticker that says poop happens, okay. And we all know the real version, not the G rated version I'm trying to give you here we know, sometimes in life, that's going to happen. That being said, if you have the opportunity to have some awareness, and to get a finger on the pulse of what's happening in the market ahead of time, please take advantage of that. Please take advantage of it. On Thursday afternoon, I published a blog post because I saw this great video by Revenger consulting about zombie companies. And the host also talks about these companies that have never really made a profit and how prevalent they are in this country. They're being propped up by loads of debt and money they've gotten from venture capitalists or VC firms, and also what he calls fake jobs and drunken hiring sprees. Now, what he calls fake jobs are like these these zombie companies that are hiring and hiring and hiring on mass. But then at the same time, what are these people actually doing? Are they duplicated positions? Are they productive? Are they making anybody any money? And one of the things that I wanted to point out in my blog post was that some companies and I just want to be extremely clear here. I don't do it. And I'm not endorsing it. Sometimes when you're a whistleblower, people act like oh, well, you must have this inside information because you endorse it. No, I don't, I'm just trying to be honest with you about how the world really works. Some companies will post these evergreen jobs or they'll post fake jobs in order to get people into their ATS system. Maybe they don't have anything for them now, but they think they might have something for them later. And some of them are just doing it for show. They feel like having one or two jobs posted is not sexy enough to the general public. So maybe they need to have 10 or 12. jobs posted to look busy. Ever heard the expression JESUS IS COMING busy. That's what some of these companies are doing. So you want to be very careful about where you're applying. And you want to use good judgment. Caveat emptor, let the buyer beware. I would be very wary right now of making a job change that I didn't feel 100% confident about you if you can do some research online and figure out that you've applied at a zombie company that's literally never made money, I would be careful there. I can't tell you what to do. I can't give you official legal or financial advice. And I wouldn't presume to I would say as just information for your decision making information that you might want to take with you to a professional information that you might want to filter in for entertainment purposes. It would be a good idea to do some research and to do some due diligence and look before you leap, especially in this crazy time. You know, the other day an HR manager asked me, Well, how would you sum up the job market right now and I said insane. If you want me to be brief, insane. I stick by that assessment. Alright, so we made it to Friday and I am exhausted. This has definitely been the kind of week where it's like stick a fork in me because I am done. I cannot wait to go to bed. But I got up early this morning. There were a couple of stores that I wanted to go and do a little bit of shopping at a before I had to get started working for the day and be before it turned into a complete and total sauna. Now it was still hot, but it was not yet triple digit hot like it got into the heat of the day. One of the things that I noticed sort of trending is stores keeping some of the overhead lights off and then you go in and it's stuffy ice sometimes in the Midwest, it takes a little bit of time for things happening and larger more metropolitan areas are on the coasts sort of trickle their way into this part of the country. But that's the reality here. You know, a lot of these stores are doing what they can to try to reduce their power bills and to stay more energy efficient. So you're going into his Door and half the overhead lights are turned off and it feels stuffy. The AC is most definitely not blasting like it normally would be in the summertime. That's why I went in a big lots. And there were shoes, some shelves that looked to be fairly well stocked other shelves that it was very clear that they had moved things to the front to make it look like there was more stock than there actually was. And then there were other parts where there were just blank spaces, shelves were empty, and certain products just were not there. I also went into $1 General and it was sort of similar. There were some areas of the store where they had moved things to the front to make it look like they were better stocked than they actually were some things that were in stock pretty well. So it really just depends on where you're going and what kind of products you're looking for. When I was in that same store last week, they hardly had any toilet paper, but they had gotten restocked on their toilet paper pretty well when I was there this morning. So it's starting to get a little bit more unpredictable and hit or miss in terms of what you're going to find when you go into an individual store. But by that point in time, even though these were not long shopping trips at all, it was really stuffy I mean it was starting to feel like you've you're trapped in a closet or something and you're like, oh the airflow in here is not very good. So I was ready to get my stuff and get back into the air conditioned vehicle. I've heard different stories about a coming retail apocalypse. And the other day I saw this ad that popped up in my feed on social media about investing in robots that are will be replacing people in the fast food industry. And I just thought man there is so it's like there are so many different poopoo storms brewing in the economy. Pick your poison in terms of which one that you want to talk about. It's it's a crazy time. So if you're on the LinkedIn news side panel on Friday, you saw headlines such as corporate leaders speak out on row will recession kill work from home revolution, Zendesk agrees to a $10 billion takeover deal. By now pray later for a refund. Congress passes sweeping gun law, Yelp CEO hybrid is the worst and employers pitch in at the pump. If you click on will recession kill the work from home revolution. Yeah, I've been predicting that for a while now. This is one of the reasons why I want you to be careful of panders on any social media platform. Any pander that's like, well, we're just going to stick it out. We won't go back. Hell no, we won't go like yeah, you will. When you're hungry when you don't have any other options. It's time to get really pragmatic here. So if you read the blurb written by Kate Chapman, one of the 10,000 editors at LinkedIn news, you will see, will the tight labor market become a great labor slackening amid slower growth, shifting the balance of power back to bosses and smothering the work from home movement? I'll break in long enough to say yes, of course it will. Let's use some common sense here. I'll read again, almost 80% of employees now prefer to work from home at least one day a week but managers are split on whether they think remote workers are as productive as those in the office. Derek Thompson of the Atlantic writes that it's not clear of what unexpected slowdown will do to a macro economic development board of the pandemic. Well, bosses want to save money by letting go of office space, no war, will employees anxious to keep their jobs beat it back to the offices. Yes, they will. How do you think an economic slowdown will impact the work from home movements? Share your thoughts in the comments below. Yes, corporate America is going to win. They have way more money than the average person. So here's the deal, guys. You have politicians and talking heads on the TV saying well, the average American is in great shape. They're going into this downturn, this recession better than they did in 2007 2008. Where we are doing great. People have hella money and savings and low credit card debt. They invest in those STEMI checks wisely. They didn't go out and buy junk and bull crap with it. We're doing great and it's like, right. If you go over to market watch, you will find a story titled Fed says banks could withstand 10% unemployment 55% stock price drop and annual stress test. The little byline reads, the Fed sees banks will have enough capital to keep lending even if unemployment rises to 10% under a hypothetical or going a hypothetical scenario, and that was published on June 23. At 4:32pm. Eastern time, so yesterday afternoon, hypothetically, if unemployment gets up just like it did during the Great Recession, they can still keep loaning you cash and that's like a wake up up up up. Also on Market Watch, you'll find another article idled Unemployment Claims dip, but red hot US labor market might be cooling off. It might be might be. And the byline reads new jobless claims clean your five month high. Again, I want you to just be really cognizant of who you're getting your information from. Especially if they have a vested interest in selling you something if they are trying to pitch their product or their service to you. And they're telling you well, it's okay for you to spend money with me in my company. Look at how low unemployment is labor shortage, labor shortage, labor shortage, look at how hot the market still is, we got hot jobs, we can do this and this and that for you and promote you all over town. Be careful with that. Now, I cannot and will not give you any kind of legal or financial advice here. I would just speak solely for myself here. And I would think that it might be better for myself and my family to be conservative right now with finances and not to spend money on anything that could be considered needless or frivolous. I would also use really good Caveat emptor, let the buyer beware because I would not want to get saddled up with some influencer or some rando that I met on social media who wanted hundreds or 1000s of dollars for me. Now that's just me. And as Dennis Miller always said, that is only my opinion, and I could be wrong. Use your own best judgment that my opinions are just for your entertainment only and not to be taken for advice of any kind. So to sum it up, so that I can get this episode into production, get all of the links organized and then throw myself into the bed. Keep your head on a swivel. Stay alert, not panicked, not paranoid, just alert, market savvy and make sure that you're building in some kind of sanity breaks. In the midst of all this, you know, one of the things that we've been doing is having a movie night, kind of like Fight Club. The one rule of fight club is you don't talk about fight club. The one rule of Movie Night in this household is nothing sad. No, tear jerker is nothing depressing, nothing emotionally exhausting. And whether we watch something that we've DVR or whether we watch a DVD movie that we've already seen 100 times before. We want things like comedies, action adventure, superhero movies, things that are uplifting, things that are would be considered feel good entertainment. Now I'm something of an oddball because I do like horror movies. I have probably seen Rosemary's Baby hundreds upon hundreds of times. Anytime that it's on and I'm channel surfing, it's kind of like The Godfather. If the Godfather is on, boom, I'm interested and I'll be sucked right into it for the 1,000th time. So sometimes for me horror movies are like, Oh, that to me is interesting entertainment. That doesn't make me feel emotionally wrung out. But nothing sad, no, no crying, nothing depressing. And it's good to just have that period of time for two hours, hour and a half, two hours to just decompress, not be on the phone, not be on the computer, no information about what the markets are doing no information about how the media is frankly not being honest with us about the rate of inflation and the rate of people who are actually jobless in America right now and how the poop is hitting the fan. None of that. The other night we watched Thor and I even though I've seen that movie so many times I've just forgotten about what great storytelling. That is. I mean, Kenneth Branagh was such a great choice to direct that film and it is very like Shakespearean you can you can really tell that Bradshaw is a classically trained Shakespearean actor in the way that he sets up the dialogue and the me's on scene. I really enjoyed it. It was just such a great opportunity like yes, for the umpteenth time. Let's just have some fun and enjoy this movie. So I would really recommend some sanity breaks being able to get away from gloom and doom. Stay alert, stay aware. Stay safe. We'll catch you in the next episode. If you hear me snoring, I've already hit the bed. Bye for now.