1 00:00:00,519 --> 00:00:00,939 Music: Music (In). 2 00:00:28,569 --> 00:00:34,479 Suze: May 14th, 2023. Welcome everybody to the Women and Money 3 00:00:34,490 --> 00:00:39,000 Suze: Podcast as well as everybody smart enough to listen, Suze O here. 4 00:00:39,009 --> 00:00:46,240 Suze: Wishing every single mother a very, very happy mother's day, 5 00:00:46,250 --> 00:00:50,199 Suze: especially my two nieces, Alexis Tandy 6 00:00:50,590 --> 00:00:54,380 Suze: and Katie Stender Nely, who are two of the most 7 00:00:54,389 --> 00:01:00,819 Suze: extraordinary mothers I've ever met in my life. Mothers play 8 00:01:00,830 --> 00:01:05,220 Suze: a very, very big role in every one of our lives, 9 00:01:05,230 --> 00:01:08,739 Suze: even if we don't know who our mothers are. They 10 00:01:08,750 --> 00:01:11,639 Suze: were there at one point in time. 11 00:01:12,330 --> 00:01:15,599 Suze: So our love and our respect 12 00:01:16,339 --> 00:01:21,229 Suze: and everything we can do today to make today a very, 13 00:01:21,239 --> 00:01:25,949 Suze: very special day for every mother out there. 14 00:01:26,589 --> 00:01:29,519 Suze: Also, I just have to wish my good friend Karen 15 00:01:30,540 --> 00:01:35,059 Suze: happy birthday today. Kay. Just know I love you very, 16 00:01:35,069 --> 00:01:37,119 Suze: very much. OK, 17 00:01:37,819 --> 00:01:43,000 Suze: Suze School. Now, there are so many things that I 18 00:01:43,010 --> 00:01:47,379 Suze: did learn over the past 10 days or so that 19 00:01:47,389 --> 00:01:51,589 Suze: I was listening to some of the most extraordinary speakers 20 00:01:51,599 --> 00:01:52,629 Suze: of all. 21 00:01:53,260 --> 00:01:57,709 Suze: But before I get into that, there seems to be 22 00:01:58,379 --> 00:02:01,050 Suze: a big elephant in the room. Is that what you 23 00:02:01,059 --> 00:02:05,870 Suze: call it, something like that? And it's about the debt ceiling. 24 00:02:06,650 --> 00:02:09,740 Suze: Are we going to raise it? Are we not? What 25 00:02:09,750 --> 00:02:13,660 Suze: is going to happen here? Well, I have to say, 26 00:02:14,270 --> 00:02:16,600 Suze: I'm just so seriously disappointed. 27 00:02:17,210 --> 00:02:22,889 Suze: I'm disappointed because I really believed that by June 1st, 28 00:02:23,089 --> 00:02:27,220 Suze: which is really only two weeks away that we would 29 00:02:27,229 --> 00:02:31,740 Suze: have settled this by now or at least come close. 30 00:02:32,419 --> 00:02:35,610 Suze: But as close as I thought we might have been 31 00:02:35,619 --> 00:02:40,070 Suze: a month ago or two months ago, we are so 32 00:02:40,360 --> 00:02:43,910 Suze: further away. It's not even funny. 33 00:02:44,779 --> 00:02:49,130 Suze: And that is a very serious thing. 34 00:02:49,750 --> 00:02:53,229 Suze: And one of the reasons if you happen to look 35 00:02:53,240 --> 00:02:57,609 Suze: at the interest rates of T bills right now, you 36 00:02:57,619 --> 00:03:03,269 Suze: will have seen the four week T bill absolutely shoot 37 00:03:03,279 --> 00:03:03,799 Suze: up 38 00:03:04,479 --> 00:03:10,389 Suze: about 5.6, 5.8% interest. Up almost 2% from just a little 39 00:03:10,399 --> 00:03:14,720 Suze: bit ago is because many, many 40 00:03:15,429 --> 00:03:20,529 Suze: money market funds that invest in treasuries are getting rid 41 00:03:20,538 --> 00:03:25,470 Suze: of their short term treasury bills that happen to mature 42 00:03:25,479 --> 00:03:28,289 Suze: in the month of June because they don't want to 43 00:03:28,300 --> 00:03:31,649 Suze: have anything to do with it. They're going out to 44 00:03:31,690 --> 00:03:36,320 Suze: August September, they're going far away from June, so they're 45 00:03:36,330 --> 00:03:40,380 Suze: just selling them to put that money elsewhere. There's a 46 00:03:40,389 --> 00:03:43,820 Suze: lot of you who don't want your money to mature 47 00:03:43,830 --> 00:03:44,699 Suze: in June. 48 00:03:45,289 --> 00:03:49,619 Suze: Why? Because you're afraid that if something goes wrong in 49 00:03:49,630 --> 00:03:52,360 Suze: the month of June, they're not gonna pay you. And 50 00:03:52,369 --> 00:03:56,759 Suze: it's scary. You know, it's funny is that over this 51 00:03:56,770 --> 00:03:58,660 Suze: past year or so, 52 00:03:59,250 --> 00:04:01,630 Suze: I've been asking all of you at least to look 53 00:04:01,639 --> 00:04:06,500 Suze: into the certificates of deposit at Alliant Credit Union. 54 00:04:07,660 --> 00:04:13,559 Suze: And what's fascinating is that nobody who purchased a certificate 55 00:04:13,570 --> 00:04:17,350 Suze: of deposit at Alliant Credit Union, by the way, you 56 00:04:17,359 --> 00:04:23,488 Suze: can now get 5% for a one year, 5.15% for 57 00:04:23,589 --> 00:04:28,289 Suze: in 18 months. Fabulous interest rates. If you compare them 58 00:04:28,320 --> 00:04:31,799 Suze: to what's happening to treasuries right now. Not one of 59 00:04:31,809 --> 00:04:35,839 Suze: you have written me and said, is my money safe? 60 00:04:35,850 --> 00:04:39,440 Suze: Am I gonna be ok? But yet thousands of you 61 00:04:40,130 --> 00:04:44,000 Suze: have been writing me saying I'm scared about treasury bills. 62 00:04:44,010 --> 00:04:46,540 Suze: I don't know what's gonna happen. What do you think 63 00:04:46,549 --> 00:04:47,410 Suze: I should do? 64 00:04:48,720 --> 00:04:49,709 Suze: So 65 00:04:50,459 --> 00:04:54,929 Suze: you might want to think about transferring if you want to, 66 00:04:55,100 --> 00:04:58,010 Suze: if your money is maturing to a certificate of deposit 67 00:04:58,019 --> 00:05:02,089 Suze: at Alliant Credit union, go to my alliant dot com 68 00:05:02,100 --> 00:05:05,579 Suze: slash ultimate. And that's where you open up an account 69 00:05:05,589 --> 00:05:09,619 Suze: to get the CDs because certificates of deposits 70 00:05:10,160 --> 00:05:15,220 Suze: are absolutely safe and sound. Especially if you're under the 71 00:05:15,230 --> 00:05:18,529 Suze: N C U A or in a bank, the FDIC 72 00:05:18,540 --> 00:05:22,670 Suze: limits up to 250,000 or more if you know how 73 00:05:22,678 --> 00:05:25,640 Suze: to get more insurance, which I've done podcasts before in 74 00:05:25,649 --> 00:05:26,409 Suze: the past. 75 00:05:27,238 --> 00:05:29,290 Suze: Do you remember me saying to you that the goal 76 00:05:29,299 --> 00:05:32,380 Suze: of money is to be secure? If you are not 77 00:05:32,390 --> 00:05:39,019 Suze: secure in treasuries for whatever reason, look into, especially the 78 00:05:39,029 --> 00:05:44,269 Suze: Alliant Credit Union certificates of deposits, especially the one year 79 00:05:44,390 --> 00:05:47,940 Suze: and the 18 months because that's where I think you 80 00:05:47,950 --> 00:05:53,059 Suze: might want to go. So, what do I think is 81 00:05:53,070 --> 00:05:56,369 Suze: going to happen with the debt ceiling? 82 00:05:57,049 --> 00:05:57,709 Suze: Well, 83 00:05:59,109 --> 00:06:00,238 Suze: I don't know. 84 00:06:00,899 --> 00:06:03,989 Suze: I really don't know because I still find it such 85 00:06:04,000 --> 00:06:07,549 Suze: a hard thing to believe that they're going to let 86 00:06:07,559 --> 00:06:11,149 Suze: us go into default. But I do think that there 87 00:06:11,160 --> 00:06:18,029 Suze: is something that we might see President Biden doing. So 88 00:06:18,079 --> 00:06:19,750 Suze: as all of, you know, 89 00:06:20,790 --> 00:06:23,880 Suze: the debt ceiling, we have been told that if we 90 00:06:23,890 --> 00:06:28,390 Suze: don't raise it by June 1st, that it's very possible 91 00:06:28,399 --> 00:06:32,219 Suze: at that point that the US will not be able 92 00:06:32,230 --> 00:06:37,320 Suze: to pay principal and interest on treasury securities and therefore 93 00:06:37,329 --> 00:06:40,600 Suze: they are in technical default. There will be other things 94 00:06:40,609 --> 00:06:43,940 Suze: like Social Security and so forth, they won't pay, but 95 00:06:43,950 --> 00:06:47,940 Suze: it is very possible they will not pay the interest 96 00:06:48,779 --> 00:06:49,589 Suze: on 97 00:06:50,279 --> 00:06:55,820 Suze: treasuries. Now, what's fascinating about that is that they probably 98 00:06:55,829 --> 00:06:59,380 Suze: would have enough money to do so since we only 99 00:06:59,390 --> 00:07:05,808 Suze: really owe approximately $60 billion a month of interest on 100 00:07:05,820 --> 00:07:10,170 Suze: all the treasuries. But let's just say technically 101 00:07:10,519 --> 00:07:15,070 Suze: that they won't be able to pay the interest on 102 00:07:15,079 --> 00:07:20,529 Suze: treasury securities and therefore they are in technical default. Pay 103 00:07:20,540 --> 00:07:21,649 Suze: attention here 104 00:07:22,459 --> 00:07:27,350 Suze: because you heard President Biden mention this the other day. 105 00:07:27,750 --> 00:07:31,029 Suze: Around the time of the Civil War, 106 00:07:32,140 --> 00:07:37,109 Suze: there was the 14th amendment that was passed and that 107 00:07:37,119 --> 00:07:42,809 Suze: amendment said that the validity of the US debt shall 108 00:07:42,820 --> 00:07:45,350 Suze: not be questioned. 109 00:07:46,390 --> 00:07:52,559 Suze: All right. So because we lent the government money, they 110 00:07:52,570 --> 00:07:57,019 Suze: issued us treasury bill bonds or notes to pay us 111 00:07:57,029 --> 00:07:59,920 Suze: a specific interest rate for that loan. 112 00:08:00,700 --> 00:08:05,880 Suze: What that amendment says is that the validity of that 113 00:08:05,890 --> 00:08:08,880 Suze: debt because it is the debt of the United States 114 00:08:08,890 --> 00:08:12,339 Suze: of America should not be questioned. 115 00:08:13,200 --> 00:08:17,489 Suze: Now, for those of you who may be wondering 116 00:08:18,339 --> 00:08:21,630 Suze: that, what was the reason that they put the 14th 117 00:08:21,640 --> 00:08:27,769 Suze: amendment in there? It happened when they were reintroducing all 118 00:08:27,779 --> 00:08:32,210 Suze: of the Southern and the old former confederate senators and 119 00:08:32,219 --> 00:08:38,010 Suze: congressmen back into the US. And because their economy was 120 00:08:38,020 --> 00:08:43,010 Suze: in such shambles, they were afraid that they were going 121 00:08:43,020 --> 00:08:45,929 Suze: to have to pay back the confederate war debt 122 00:08:46,549 --> 00:08:51,489 Suze: even if they had to default on the Union war debts. 123 00:08:51,799 --> 00:08:56,718 Suze: So they put that into the 14th amendment that they 124 00:08:56,729 --> 00:09:01,200 Suze: can't do that. So now here we are in 2023. 125 00:09:01,909 --> 00:09:04,079 Suze: So some are saying 126 00:09:05,039 --> 00:09:08,449 Suze: since it says that the validity of the US debt 127 00:09:08,460 --> 00:09:13,489 Suze: can't be questioned. That means that the president can ignore 128 00:09:13,500 --> 00:09:17,489 Suze: the debt ceiling. Are you following me here? And he 129 00:09:17,500 --> 00:09:20,109 Suze: could just start raising the debt. 130 00:09:20,969 --> 00:09:26,780 Suze: Now, the problem comes with, let's say he does that 131 00:09:27,429 --> 00:09:30,580 Suze: and he does that on June 1st and he tells 132 00:09:30,590 --> 00:09:34,979 Suze: Janet Yellen you can ignore the debt ceiling because I'm 133 00:09:34,989 --> 00:09:39,599 Suze: evoking the 14th amendment. So go out and issue some 134 00:09:39,609 --> 00:09:41,140 Suze: more bonds. 135 00:09:41,830 --> 00:09:45,679 Suze: I'm telling you everybody, this is a real possibility that 136 00:09:45,690 --> 00:09:51,159 Suze: this could happen. So, ok, he does that and she 137 00:09:51,169 --> 00:09:55,099 Suze: listens to him and she issues more bonds and they 138 00:09:55,109 --> 00:10:00,020 Suze: pay their debts that they owe after June 1st. What's 139 00:10:00,030 --> 00:10:01,679 Suze: gonna happen after that? 140 00:10:02,090 --> 00:10:06,510 Suze: It is probable that the Supreme Court is gonna come 141 00:10:06,520 --> 00:10:09,270 Suze: in just a few days later or maybe some weeks 142 00:10:09,280 --> 00:10:15,099 Suze: later and say, no, you can't do that. That's unconstitutional. 143 00:10:15,109 --> 00:10:20,270 Suze: You weren't allowed to do that. But here's the problem, everybody, 144 00:10:20,280 --> 00:10:25,409 Suze: what happens to all those bonds they issued after June 1st, 145 00:10:26,000 --> 00:10:29,848 Suze: if the Supreme Court says that it is possible that 146 00:10:29,859 --> 00:10:34,089 Suze: they could be considered invalid, that they never should have 147 00:10:34,099 --> 00:10:38,679 Suze: been issued in the first place. So the question then becomes, 148 00:10:38,690 --> 00:10:41,598 Suze: do they give the money back and do they just 149 00:10:41,609 --> 00:10:46,000 Suze: say sorry? Yeah. What are they gonna do? And what 150 00:10:46,010 --> 00:10:49,729 Suze: are they gonna do if the government has spent the money? 151 00:10:49,739 --> 00:10:53,630 Suze: They don't have it and they can't issue new debt. 152 00:10:53,969 --> 00:10:57,530 Suze: Well, I'm just telling you, it could create such an 153 00:10:57,539 --> 00:10:59,260 Suze: enormous mess. 154 00:11:00,140 --> 00:11:03,210 Suze: I mean, I don't even know what would happen if 155 00:11:03,219 --> 00:11:04,130 Suze: they did that 156 00:11:05,090 --> 00:11:10,439 Suze: if we can't get the Congress to simply pass a 157 00:11:10,450 --> 00:11:13,140 Suze: law that raises the debt ceiling 158 00:11:14,239 --> 00:11:16,929 Suze: and the president signs it and then this is all 159 00:11:16,940 --> 00:11:20,640 Suze: over with and if we can't do that and it's 160 00:11:20,650 --> 00:11:23,919 Suze: starting to look like we're not going to. 161 00:11:24,900 --> 00:11:29,219 Suze: I'm not exactly sure what's gonna happen, but you do not, 162 00:11:29,229 --> 00:11:32,840 Suze: I'm just saying to you just in case the president 163 00:11:32,849 --> 00:11:38,229 Suze: evokes the 14th amendment and they issue bonds during that time. 164 00:11:38,239 --> 00:11:41,450 Suze: I don't care what interest rates they are at, do 165 00:11:41,460 --> 00:11:45,929 Suze: not touch them with a 10 ft pole. 166 00:11:46,609 --> 00:11:51,030 Suze: So, in the meantime, however, if you do have treasury 167 00:11:51,039 --> 00:11:56,140 Suze: bills that are maturing later on or whatever or before June, 168 00:11:56,719 --> 00:12:01,200 Suze: in my opinion, I think you will be absolutely OK. 169 00:12:01,500 --> 00:12:05,059 Suze: It's just that month of June. That's kind of like, really, 170 00:12:05,719 --> 00:12:07,750 Suze: I don't know, I don't like when I see something 171 00:12:07,760 --> 00:12:12,489 Suze: jump up 2% approximately almost overnight 172 00:12:13,960 --> 00:12:18,239 Suze: Before I even go into Suze School. I know when 173 00:12:18,250 --> 00:12:23,020 Suze: I was talking to KT about it last Thursday, KT said, 174 00:12:23,150 --> 00:12:25,940 Suze: I don't know, Suze, it might be over their head. 175 00:12:26,080 --> 00:12:28,949 Suze: And then a lot of you on the Women and 176 00:12:28,960 --> 00:12:34,409 Suze: Money community app got insulted by that. A lot of 177 00:12:34,419 --> 00:12:37,570 Suze: you've said, I'm tired of people telling me that it 178 00:12:37,580 --> 00:12:39,590 Suze: might be over my head. 179 00:12:40,359 --> 00:12:43,260 Suze: Well, one of the reasons that my little precious KT 180 00:12:43,590 --> 00:12:47,909 Suze: said that is she listened to a few of the 181 00:12:47,919 --> 00:12:54,250 Suze: talks that trust me would be over your head in 182 00:12:54,260 --> 00:12:58,728 Suze: most cases because it was definitely over mine. 183 00:12:59,559 --> 00:13:03,940 Suze: There was some technical analysis and all kinds of courses 184 00:13:03,950 --> 00:13:07,329 Suze: that were like, what was that? What do you do 185 00:13:07,340 --> 00:13:12,369 Suze: with that information? So please don't be insulted it's just 186 00:13:12,380 --> 00:13:16,468 Suze: because the classes that she chose to listen to with 187 00:13:16,479 --> 00:13:22,510 Suze: me really were seriously advanced and a few of them 188 00:13:22,520 --> 00:13:23,609 Suze: really were 189 00:13:24,750 --> 00:13:27,960 Suze: a challenge even for me to get, I had to 190 00:13:27,969 --> 00:13:31,650 Suze: relisten to it and relisten to it and relisten to it. 191 00:13:31,830 --> 00:13:34,780 Suze: And why is that? Because at that moment in time 192 00:13:34,789 --> 00:13:40,309 Suze: it was above my head and I don't mind thinking 193 00:13:40,890 --> 00:13:44,280 Suze: or knowing that there are things that I don't know 194 00:13:44,289 --> 00:13:45,439 Suze: and maybe 195 00:13:46,349 --> 00:13:51,340 Suze: would not be easy for me to understand. So please 196 00:13:51,349 --> 00:13:54,799 Suze: don't take offense to what KT s aid because a 197 00:13:54,809 --> 00:13:59,450 Suze: lot of it really was difficult. However, every single one 198 00:13:59,460 --> 00:14:05,520 Suze: of you has the capability with some education listening to 199 00:14:05,530 --> 00:14:10,830 Suze: it over and over again to absolutely understand it. Do 200 00:14:10,840 --> 00:14:13,280 Suze: you have a situation in your life where you would 201 00:14:13,289 --> 00:14:14,939 Suze: be able to apply it? 202 00:14:15,169 --> 00:14:18,539 Suze: That's a whole another story. But you do have it. 203 00:14:18,549 --> 00:14:21,780 Suze: It's do you want to and do you need to? 204 00:14:22,090 --> 00:14:26,260 Suze: So I chose to just kind of touch on the 205 00:14:26,270 --> 00:14:29,500 Suze: topics that I think you would want to know about 206 00:14:30,419 --> 00:14:33,679 Suze: and that's what I'm going to tell you about. 207 00:14:34,289 --> 00:14:38,760 Suze: Now, one thing I took away from these days is 208 00:14:38,770 --> 00:14:41,140 Suze: that nobody knows for sure. 209 00:14:41,750 --> 00:14:47,799 Suze: There are many brilliant minds that totally disagreed with each other, 210 00:14:47,979 --> 00:14:53,489 Suze: but really in consensus, the majority of people really did 211 00:14:53,500 --> 00:14:58,320 Suze: think that we were currently in a recession. 212 00:14:59,020 --> 00:15:02,989 Suze: And if we're not in a recession yet, we're going 213 00:15:03,000 --> 00:15:07,409 Suze: to be one in one within this year or within 214 00:15:07,419 --> 00:15:14,020 Suze: the next few months. Just that simple. And therefore it's 215 00:15:14,030 --> 00:15:16,229 Suze: just something that we should think about. 216 00:15:16,849 --> 00:15:21,659 Suze: My favorite man, Felix Zulauf thinks that we should be 217 00:15:21,669 --> 00:15:25,679 Suze: in a recession by September, maybe a little bit before 218 00:15:25,690 --> 00:15:28,960 Suze: that or a little bit after that. But that's when 219 00:15:28,969 --> 00:15:34,919 Suze: we should be in a recession. Many people also felt 220 00:15:34,929 --> 00:15:35,859 Suze: that way 221 00:15:36,590 --> 00:15:43,349 Suze: because they were looking at certain indicators that were forward 222 00:15:43,359 --> 00:15:50,140 Suze: looking indicators, not backward looking indicators. So indicators that didn't 223 00:15:50,150 --> 00:15:54,140 Suze: tell them what money you did spend all of those 224 00:15:54,150 --> 00:15:55,659 Suze: things in the past, 225 00:15:56,320 --> 00:15:59,919 Suze: they were looking at indicators and those are called leading 226 00:15:59,929 --> 00:16:04,330 Suze: economic indicators, what they think is to come. 227 00:16:05,210 --> 00:16:09,599 Suze: And one of them, in particular, David Rosenberg, they call 228 00:16:09,609 --> 00:16:16,119 Suze: him Rosie. He was just brilliant mentioned an indicator from 229 00:16:16,130 --> 00:16:21,400 Suze: the University of Michigan that has had a survey that 230 00:16:21,409 --> 00:16:27,090 Suze: goes back over six decades and it talks about the 231 00:16:27,099 --> 00:16:32,460 Suze: spending intentions that all of you have. So in other words, 232 00:16:32,890 --> 00:16:36,580 Suze: how much money do you think you are going to 233 00:16:36,590 --> 00:16:39,179 Suze: spend in the future? 234 00:16:39,849 --> 00:16:44,840 Suze: And what he noted there is that the data that 235 00:16:44,849 --> 00:16:45,979 Suze: came in 236 00:16:46,830 --> 00:16:51,150 Suze: was worse than it has been all the way back 237 00:16:51,159 --> 00:16:56,989 Suze: to 1982 again when we had that serious recession. 238 00:16:58,039 --> 00:17:04,010 Suze: So when that happens and buying intentions for the next 239 00:17:04,020 --> 00:17:05,929 Suze: year have collapsed, 240 00:17:07,189 --> 00:17:11,540 Suze: not just to normal recession levels, but to the worst 241 00:17:11,550 --> 00:17:14,219 Suze: levels they've had, like I said, since 242 00:17:14,890 --> 00:17:18,859 Suze: that year and a half recession they had in 1982. 243 00:17:19,550 --> 00:17:24,219 Suze: That's what could affect autos and housing. 244 00:17:24,910 --> 00:17:27,800 Suze: Let's talk about automobiles, just for a second. 245 00:17:28,560 --> 00:17:36,189 Suze: Many people talked about auto inventories have totally come back 246 00:17:36,420 --> 00:17:41,449 Suze: and there is no supply issue anymore. So you could 247 00:17:41,459 --> 00:17:45,930 Suze: go into any showroom and find now the car that 248 00:17:45,939 --> 00:17:47,069 Suze: you want. 249 00:17:47,819 --> 00:17:54,380 Suze: However, automobiles though are going nowhere, not because anymore of 250 00:17:54,390 --> 00:18:00,599 Suze: supply costs, but because of financing costs. So he said, 251 00:18:00,609 --> 00:18:05,239 Suze: what was interesting is that six months ago, if you 252 00:18:05,250 --> 00:18:08,800 Suze: had been asked, are you gonna buy a car? You 253 00:18:08,810 --> 00:18:14,390 Suze: would say no, because of inflation, inflation is too high. 254 00:18:15,160 --> 00:18:19,089 Suze: Now, if you're asked that question, you say no, I'm 255 00:18:19,099 --> 00:18:23,239 Suze: not going to buy a car. Why? Because interest rates 256 00:18:23,250 --> 00:18:25,130 Suze: are too high. 257 00:18:25,849 --> 00:18:30,978 Suze: When you combine that with the fact that banks are 258 00:18:30,989 --> 00:18:35,429 Suze: not willing to lend to consumers, like they were quite 259 00:18:35,439 --> 00:18:36,900 Suze: a few months ago, 260 00:18:38,310 --> 00:18:44,079 Suze: then we have problems and we have problems because banks 261 00:18:44,089 --> 00:18:47,489 Suze: don't want to lend money to anybody right now. They 262 00:18:47,500 --> 00:18:51,560 Suze: wanna hold on to their money. So when you go 263 00:18:51,569 --> 00:18:55,159 Suze: to get a loan for a car rather than it 264 00:18:55,170 --> 00:18:59,479 Suze: being at a 3% or a 0% or whatever interest rate, 265 00:18:59,739 --> 00:19:02,458 Suze: it very well now could be at 11 266 00:19:02,800 --> 00:19:10,369 Suze: 15 17% even 20% depending on your FICO score. So 267 00:19:10,380 --> 00:19:13,640 Suze: then you look at that and you go, nope, I'm 268 00:19:13,650 --> 00:19:17,079 Suze: not going to be buying a car. So it is 269 00:19:17,089 --> 00:19:20,530 Suze: very probable that car prices could come down more 270 00:19:21,219 --> 00:19:26,729 Suze: and many people absolutely projected that sooner than later, many 271 00:19:26,739 --> 00:19:29,750 Suze: car dealerships will be closing. 272 00:19:30,920 --> 00:19:38,180 Suze: Also, they all talked about how everybody, when they're on television, 273 00:19:38,189 --> 00:19:43,599 Suze: all these pundits, quote, the economy is good. We're not 274 00:19:43,609 --> 00:19:49,010 Suze: in trouble because credit card defaults are almost nil. 275 00:19:49,670 --> 00:19:54,560 Suze: So why are we worried about recession? The economy is strong, 276 00:19:54,569 --> 00:19:59,040 Suze: the consumer is strong, they are paying their bills on time. 277 00:20:00,189 --> 00:20:05,390 Suze: What they also talked about was that when you look 278 00:20:05,400 --> 00:20:06,919 Suze: at credit cards, 279 00:20:07,739 --> 00:20:11,250 Suze: you don't look at those that are in default. 280 00:20:11,920 --> 00:20:17,209 Suze: What you do is you look at how many people 281 00:20:17,219 --> 00:20:22,629 Suze: are 30 days late in their payments. You don't wait 282 00:20:22,640 --> 00:20:26,239 Suze: till they're 90 day late or in delinquency. You look 283 00:20:26,250 --> 00:20:32,199 Suze: at how many are 30 days late or more and 284 00:20:32,209 --> 00:20:37,530 Suze: what they're finding is that more and more people are 285 00:20:37,540 --> 00:20:39,829 Suze: starting to be 30 days late 286 00:20:40,319 --> 00:20:44,270 Suze: across every type of credit. 287 00:20:44,910 --> 00:20:49,239 Suze: So therefore banks and people who lend are saying, you 288 00:20:49,250 --> 00:20:52,780 Suze: know what I don't like this and they are tightening 289 00:20:52,790 --> 00:20:58,000 Suze: credit for that reason as well as many, many other reasons. 290 00:20:59,369 --> 00:21:03,599 Suze: Let's go a little bit into real estate. 291 00:21:04,510 --> 00:21:08,359 Suze: It's very important with real estate and many people talked 292 00:21:08,369 --> 00:21:14,969 Suze: about real estate is that you cannot generalize more about 293 00:21:14,979 --> 00:21:19,599 Suze: real estate. You can't just say real estate's going up 294 00:21:19,729 --> 00:21:24,589 Suze: because you have to differentiate it now by location and 295 00:21:24,599 --> 00:21:26,589 Suze: by type of real estate 296 00:21:27,290 --> 00:21:32,380 Suze: because you have a migration in the United States from 297 00:21:32,390 --> 00:21:36,780 Suze: people in the north moving to the south. 298 00:21:37,640 --> 00:21:42,400 Suze: So real estate is relatively safe. It may be a 299 00:21:42,410 --> 00:21:46,349 Suze: problem in some northern states because of migration from north 300 00:21:46,359 --> 00:21:51,800 Suze: to south. But yet most people agreed that single family 301 00:21:51,810 --> 00:21:58,329 Suze: homes or condos were no problem yet on any single level. 302 00:21:59,000 --> 00:22:03,689 Suze: And in fact, Barry Habib who is a real estate 303 00:22:03,699 --> 00:22:10,050 Suze: genius was talking about that in many, many times, real 304 00:22:10,060 --> 00:22:15,300 Suze: estate has actually gone up during a recession rather than down. 305 00:22:15,479 --> 00:22:23,050 Suze: He also talked about how the inventory is very, very slim. 306 00:22:23,520 --> 00:22:27,430 Suze: And even though it seems like we have a lot 307 00:22:27,439 --> 00:22:32,969 Suze: of inventory, we do not. He did talk about how 308 00:22:32,979 --> 00:22:35,849 Suze: you should not be afraid because many of you are 309 00:22:35,859 --> 00:22:39,410 Suze: saying Suze, do you remember what happened to real estate 310 00:22:39,420 --> 00:22:43,369 Suze: in 2007 and 2008? You told all of us to 311 00:22:43,380 --> 00:22:46,890 Suze: get out of real estate? What should we do right now? 312 00:22:47,290 --> 00:22:51,060 Suze: So, Barry gave a fabulous statistic that I think you 313 00:22:51,069 --> 00:22:55,140 Suze: should think about, which is in 2007, 314 00:22:56,000 --> 00:23:01,670 Suze: there were four million homes in inventory today. There are 315 00:23:01,680 --> 00:23:06,569 Suze: only 980,000 homes in inventory 316 00:23:07,250 --> 00:23:15,119 Suze: of which 43% approximately are under contract which leaves only 317 00:23:15,130 --> 00:23:19,859 Suze: 560,000 active listings. However, 318 00:23:20,729 --> 00:23:30,750 Suze: since 2007, everybody, our population has increased by 30 million 319 00:23:30,760 --> 00:23:36,920 Suze: people since then that wanna buy homes. So 30 million 320 00:23:36,930 --> 00:23:44,560 Suze: more people are fighting for three million fewer homes than 321 00:23:44,569 --> 00:23:48,420 Suze: what they had back. In 2007. 322 00:23:49,349 --> 00:23:54,239 Suze: Also, you just need to know that today, the average 323 00:23:54,250 --> 00:24:04,520 Suze: person has approximately 58% equity in their homes. Back in 2007, 2008, 324 00:24:04,760 --> 00:24:10,160 Suze: nobody had equity in their homes because everybody was buying 325 00:24:10,810 --> 00:24:14,260 Suze: no money down interest, only 326 00:24:14,810 --> 00:24:20,359 Suze: mortgages. So nobody had equity in their home. So it's 327 00:24:20,369 --> 00:24:28,069 Suze: a very, very different situation. So again, most people agreed 328 00:24:28,089 --> 00:24:30,819 Suze: that real estate is relatively safe. 329 00:24:31,300 --> 00:24:34,189 Suze: Again, it could become a little bit of a problem 330 00:24:34,199 --> 00:24:39,540 Suze: in some northern states. But overall single family homes and 331 00:24:39,550 --> 00:24:44,750 Suze: condos are no problem at this point in time. 332 00:24:45,489 --> 00:24:50,829 Suze: What Barry also said about mortgage rates is that they 333 00:24:50,839 --> 00:24:56,069 Suze: will come down, but he doesn't see them coming down 334 00:24:56,079 --> 00:25:01,180 Suze: to 3% 4% down there anymore. He thinks they will 335 00:25:01,189 --> 00:25:06,140 Suze: come down and stabilize at about 5%. 336 00:25:06,890 --> 00:25:10,790 Suze: Now, why does that matter? A lot of you are 337 00:25:10,800 --> 00:25:14,839 Suze: finding that a lot of people who own a home 338 00:25:14,849 --> 00:25:18,790 Suze: right now and they own a home with, let's just 339 00:25:18,800 --> 00:25:22,540 Suze: say a mortgage of 2.5 or 3% 340 00:25:23,300 --> 00:25:26,709 Suze: they don't want to sell their home because they don't 341 00:25:26,719 --> 00:25:29,869 Suze: want to move to another home where they're going to 342 00:25:29,880 --> 00:25:36,930 Suze: have a 6.5 or 7% interest rate. However, he made 343 00:25:36,939 --> 00:25:38,660 Suze: such a brilliant point. 344 00:25:39,380 --> 00:25:43,790 Suze: A lot of these people also are finding themselves in 345 00:25:43,800 --> 00:25:50,270 Suze: situations where they now have car loan debt at 11% 346 00:25:50,280 --> 00:25:54,810 Suze: or more. They have credit card debt, possibly at 20% 347 00:25:54,819 --> 00:25:58,389 Suze: or more. They have home equity lines of credit, even 348 00:25:58,400 --> 00:26:03,130 Suze: though their original mortgage is at 3% they may have 349 00:26:03,140 --> 00:26:05,910 Suze: taken out a home equity line of credit that's now 350 00:26:05,920 --> 00:26:08,349 Suze: at 9% or more. 351 00:26:09,199 --> 00:26:14,729 Suze: So they may start to understand, especially at a five 352 00:26:14,739 --> 00:26:19,790 Suze: or 5.5% interest rate for a mortgage. It might be 353 00:26:19,800 --> 00:26:25,270 Suze: better for them to sell, buy another place, wrap all 354 00:26:25,280 --> 00:26:28,729 Suze: of their debt into that mortgage because they have so 355 00:26:28,739 --> 00:26:32,729 Suze: much equity in their home right now and maybe they're downsizing. 356 00:26:33,209 --> 00:26:38,290 Suze: So wrap all of their credit debt into 357 00:26:38,599 --> 00:26:43,400 Suze: a new mortgage on a new downsized home and then 358 00:26:43,410 --> 00:26:46,510 Suze: they're not afraid to move. And the truth of the 359 00:26:46,520 --> 00:26:50,198 Suze: matter is because it's possible that it may be tax 360 00:26:50,209 --> 00:26:54,859 Suze: deductible in many situations that they would be far better 361 00:26:54,869 --> 00:26:58,629 Suze: off doing that. And he believes that once people start 362 00:26:58,640 --> 00:27:00,050 Suze: to understand that 363 00:27:00,640 --> 00:27:05,468 Suze: that will be another reason why real estate will start 364 00:27:05,479 --> 00:27:09,500 Suze: to loosen up and more people will start to buy 365 00:27:09,510 --> 00:27:13,209 Suze: and sell and real estate should be ok. 366 00:27:13,939 --> 00:27:20,260 Suze: Everybody absolutely had a concern about commercial real estate for many, 367 00:27:20,270 --> 00:27:25,909 Suze: many reasons, but the biggest reason being the credit crunch, 368 00:27:25,989 --> 00:27:29,989 Suze: not only are banks and lenders not wanting to lend 369 00:27:30,000 --> 00:27:34,680 Suze: to anybody anymore without a good interest rate there really, 370 00:27:34,689 --> 00:27:36,729 Suze: regardless of your FICO score. If you want to know 371 00:27:36,739 --> 00:27:37,429 Suze: the truth, 372 00:27:38,180 --> 00:27:42,260 Suze: they aren't wanting to take a risk. So there are 373 00:27:42,270 --> 00:27:47,859 Suze: people who told stories about, there was a huge developer 374 00:27:47,869 --> 00:27:54,050 Suze: in Florida. He had totally gotten pre financing for this big, 375 00:27:54,060 --> 00:27:58,540 Suze: huge complex that he was building at a good interest rate, 376 00:27:58,550 --> 00:28:01,938 Suze: he was going for it. And the bank called the 377 00:28:01,949 --> 00:28:05,339 Suze: loan because they didn't want to loan the money, they 378 00:28:05,349 --> 00:28:06,880 Suze: had the ability to do it 379 00:28:07,099 --> 00:28:10,938 Suze: and he now can't find any other lender that will 380 00:28:10,949 --> 00:28:15,400 Suze: take that. Or if somebody is out there with a 381 00:28:15,410 --> 00:28:21,949 Suze: big project and they had financing and possibly they took 382 00:28:21,959 --> 00:28:26,389 Suze: longer to complete the project than when that financing was due. 383 00:28:26,969 --> 00:28:30,369 Suze: And now they need more money to just finish it. 384 00:28:30,569 --> 00:28:34,849 Suze: The banks aren't willing to lend on it. So commercial 385 00:28:34,859 --> 00:28:35,849 Suze: real estate 386 00:28:36,290 --> 00:28:41,050 Suze: may be in trouble for a while. So for those 387 00:28:41,060 --> 00:28:43,319 Suze: of you who are thinking about being a com a 388 00:28:43,329 --> 00:28:49,319 Suze: commercial real estate realtor, well, key now just think about that. 389 00:28:49,910 --> 00:28:51,000 Suze: Next 390 00:28:51,680 --> 00:28:56,949 Suze: many, many people felt like the past, we will never 391 00:28:56,959 --> 00:29:01,810 Suze: revisit that it's gone that we may find that the 392 00:29:01,819 --> 00:29:07,810 Suze: new normal is a three or 4% inflation rate. And 393 00:29:07,819 --> 00:29:11,130 Suze: there were a few people that argued how a three 394 00:29:11,140 --> 00:29:16,969 Suze: or 4% inflation rate is actually good for the economy, 395 00:29:17,619 --> 00:29:22,530 Suze: but they doubt highly that the inflation rate is ever 396 00:29:22,540 --> 00:29:25,910 Suze: going to go back to the 2%. They think it 397 00:29:25,920 --> 00:29:31,290 Suze: will stay at the three or 4% and what eventually 398 00:29:31,300 --> 00:29:35,520 Suze: will make the feds stop raising even though they are 399 00:29:35,530 --> 00:29:40,109 Suze: dead set on not doing anything but raising until inflation 400 00:29:40,119 --> 00:29:44,599 Suze: goes down to 2% is how the slowdown of the 401 00:29:44,609 --> 00:29:47,250 Suze: economy and the stock market 402 00:29:47,800 --> 00:29:51,969 Suze: will affect them. And they will stop. At that point 403 00:29:51,979 --> 00:29:56,719 Suze: in time, most people believe that the interest rate that 404 00:29:56,729 --> 00:30:00,060 Suze: they just raised, the Feds just raised just a week 405 00:30:00,069 --> 00:30:03,109 Suze: or so ago will be the last one. There are 406 00:30:03,119 --> 00:30:07,280 Suze: a few people that believe no way he will absolutely 407 00:30:07,290 --> 00:30:10,530 Suze: continue to raise in June. 408 00:30:10,829 --> 00:30:15,800 Suze: Only time will tell. But they really believe if he raises, 409 00:30:15,810 --> 00:30:20,060 Suze: he will. Meaning J Powell, the fed chair, he will 410 00:30:20,069 --> 00:30:25,609 Suze: be making the biggest mistake out there in terms of 411 00:30:25,619 --> 00:30:31,020 Suze: the overall markets. Almost everybody who is in agreement 412 00:30:31,400 --> 00:30:34,640 Suze: that they think the stocks could very well go up 413 00:30:34,650 --> 00:30:38,390 Suze: a little bit here. But then they are absolutely going 414 00:30:38,400 --> 00:30:43,449 Suze: to decline and go down lower than they were in 415 00:30:43,459 --> 00:30:48,760 Suze: the October lows. And then they will probably in 24 416 00:30:48,989 --> 00:30:54,589 Suze: 25 turn around and go back up higher than they 417 00:30:54,599 --> 00:31:00,829 Suze: have been. So they're expecting higher highs in 2024 2025. 418 00:31:01,150 --> 00:31:05,359 Suze: But they are expecting a serious problem 419 00:31:06,209 --> 00:31:13,560 Suze: in 2026 2027 where it is possible that the markets 420 00:31:13,569 --> 00:31:19,140 Suze: could go down over 50% at that point in time. 421 00:31:19,520 --> 00:31:22,729 Suze: So we'll just have to watch it and see what happens. 422 00:31:22,989 --> 00:31:25,199 Suze: They do think that the dollar 423 00:31:26,310 --> 00:31:31,489 Suze: will decline from its September high. But after it does 424 00:31:31,500 --> 00:31:35,969 Suze: that when the equity markets start to decline, then they 425 00:31:35,979 --> 00:31:39,020 Suze: think that the dollar will go up to again about 426 00:31:39,030 --> 00:31:42,160 Suze: one oh eight or 1 10. 427 00:31:42,810 --> 00:31:45,140 Suze: Many of the people still suggested 428 00:31:45,869 --> 00:31:48,810 Suze: that if you are going to be in the stock market, 429 00:31:49,209 --> 00:31:54,000 Suze: that you really look to companies that are defensive in 430 00:31:54,010 --> 00:31:58,880 Suze: nature because of where things could go. And also companies 431 00:31:58,890 --> 00:32:03,380 Suze: that provide daily necessities to the people where you have 432 00:32:03,390 --> 00:32:08,160 Suze: to eat, you have to shower daily necessities. Let's talk 433 00:32:08,170 --> 00:32:11,119 Suze: a second about alternative energy 434 00:32:11,969 --> 00:32:16,939 Suze: because a lot of people think that alternative energy is 435 00:32:16,949 --> 00:32:23,060 Suze: absolutely going to replace oil and therefore oil is done. 436 00:32:23,569 --> 00:32:27,780 Suze: There were two people on a panel that were maybe 437 00:32:27,790 --> 00:32:30,569 Suze: two of the most brilliant speakers I've ever heard in 438 00:32:30,579 --> 00:32:33,599 Suze: terms of their company and what they are doing 439 00:32:34,170 --> 00:32:39,400 Suze: and they are making alternative energy one, they're not public. 440 00:32:39,410 --> 00:32:41,959 Suze: So it doesn't make any sense to talk about them 441 00:32:41,969 --> 00:32:45,069 Suze: yet in terms of their name. But one of them 442 00:32:45,079 --> 00:32:51,459 Suze: is making batteries for cars that are really the size 443 00:32:51,469 --> 00:32:55,020 Suze: of maybe your cell phone. So these big batteries are 444 00:32:55,030 --> 00:32:59,109 Suze: being replaced by these little batteries, but they're made with 445 00:32:59,119 --> 00:33:01,920 Suze: lithium and something else. I forget what it was to 446 00:33:01,930 --> 00:33:02,859 Suze: tell you the truth 447 00:33:03,380 --> 00:33:08,869 Suze: that those two items that they're made with are recyclable. 448 00:33:09,239 --> 00:33:13,689 Suze: So eventually we will get to the point where we 449 00:33:13,699 --> 00:33:18,010 Suze: don't have to keep looking for energy. It's just recyclable, 450 00:33:18,020 --> 00:33:22,869 Suze: the materials that we use to make the batteries. However, 451 00:33:23,420 --> 00:33:29,270 Suze: they said that it is an illusion that by 2050 452 00:33:29,280 --> 00:33:33,619 Suze: or 2030 whatever the dates are that different people are 453 00:33:33,630 --> 00:33:40,890 Suze: throwing out there, that we will be CO2 free. It's impossible. 454 00:33:41,160 --> 00:33:47,209 Suze: And the reason is that 80% of all the energy 455 00:33:47,219 --> 00:33:51,010 Suze: that we are using comes from fossil fuels. 456 00:33:51,459 --> 00:33:57,229 Suze: So one day we will get there but not for many, many, 457 00:33:57,239 --> 00:34:03,189 Suze: many years. And because of that belief and the cutback 458 00:34:03,199 --> 00:34:06,589 Suze: on doing anything with fossil fuels, 459 00:34:07,650 --> 00:34:10,139 Suze: and there will be a shortage in the next few 460 00:34:10,149 --> 00:34:16,770 Suze: years because we have banished the production of fossil fuels. 461 00:34:17,129 --> 00:34:22,560 Suze: So when that starts to happen, then the oil companies 462 00:34:22,570 --> 00:34:25,820 Suze: will want to start to rebuild their investments. 463 00:34:26,408 --> 00:34:30,857 Suze: And even though they went to alternative energy, which many 464 00:34:30,868 --> 00:34:32,999 Suze: of them are doing right now, by the way, they're 465 00:34:33,009 --> 00:34:38,259 Suze: going to go back to fossil fuels and then what 466 00:34:38,268 --> 00:34:41,979 Suze: will happen when they do that once the world economy 467 00:34:41,989 --> 00:34:45,739 Suze: stabilizes because again, they think it's going to be rocky here. 468 00:34:46,678 --> 00:34:51,089 Suze: What we're going to find that later on in '24 469 00:34:51,099 --> 00:34:57,268 Suze: to '26. So 2024 to 2026 it's not that far away. Everybody. 470 00:34:57,498 --> 00:35:02,249 Suze: This is when many of them felt that oil could 471 00:35:02,259 --> 00:35:07,968 Suze: easily jump to 150 to $200 a barrel. 472 00:35:08,570 --> 00:35:14,310 Suze: And if that happens, then any company listen closely producing 473 00:35:14,320 --> 00:35:19,560 Suze: oil in a safe place for the western world would 474 00:35:19,570 --> 00:35:26,020 Suze: be perfect to invest in. Just be careful that it 475 00:35:26,030 --> 00:35:31,030 Suze: is United States friendly. All right. So just think about that. 476 00:35:31,379 --> 00:35:34,810 Suze: Um they do expect to see energy go down to 477 00:35:34,820 --> 00:35:36,280 Suze: $50 478 00:35:36,729 --> 00:35:39,500 Suze: right now a barrel and that's why you're seeing, by 479 00:35:39,510 --> 00:35:42,929 Suze: the way, Devin and P X D and Chevron and 480 00:35:42,939 --> 00:35:45,370 Suze: many other companies go down. 481 00:35:46,090 --> 00:35:49,639 Suze: But remember we have said you don't buy those companies 482 00:35:49,649 --> 00:35:53,600 Suze: for growth, you buy them for the dividends And even 483 00:35:53,610 --> 00:35:58,000 Suze: though the dividend may be coming down a little bit, 8,9, 10% 484 00:35:58,010 --> 00:36:02,679 Suze: is still not a bad dividend, even 11%. But again, 485 00:36:02,689 --> 00:36:04,179 Suze: it is projected 486 00:36:04,719 --> 00:36:09,649 Suze: that very, possibly in one or two years, you could 487 00:36:09,659 --> 00:36:14,600 Suze: easily see oil at 150 to $200 a barrel. I 488 00:36:14,610 --> 00:36:18,010 Suze: don't know if that will be true or not, but 489 00:36:18,020 --> 00:36:21,989 Suze: that's what I have been thinking this entire time as well. 490 00:36:22,020 --> 00:36:28,489 Suze: So there you go again. Gold, which I found very fascinating, 491 00:36:28,840 --> 00:36:32,719 Suze: right? They think gold will go up for the next 492 00:36:32,729 --> 00:36:36,879 Suze: two or three months from here and then it will 493 00:36:36,889 --> 00:36:40,589 Suze: have a correction and go down to about 1850 494 00:36:41,820 --> 00:36:47,399 Suze: which will be a fantastic opportunity to load up because 495 00:36:47,409 --> 00:36:52,149 Suze: then they see gold going to a new historic high 496 00:36:52,159 --> 00:36:55,600 Suze: late this year, believe it or not, or next to 497 00:36:55,610 --> 00:37:00,979 Suze: $2500 or more. And they really like gold mining stocks 498 00:37:00,989 --> 00:37:03,610 Suze: as an attractive alternative as well. 499 00:37:03,899 --> 00:37:07,449 Suze: So again, you know, one of my favorite gold stocks 500 00:37:07,459 --> 00:37:11,610 Suze: was Barrick symbol G O L D pays a nice 501 00:37:11,620 --> 00:37:15,550 Suze: dividend and you know, I'm into dividends right now. So 502 00:37:15,560 --> 00:37:18,429 Suze: something that you might consider 503 00:37:19,250 --> 00:37:24,149 Suze: again, they did talk about bonds. And what was interesting 504 00:37:24,159 --> 00:37:28,060 Suze: is that this is one thing that many people disagreed on. 505 00:37:28,840 --> 00:37:35,739 Suze: However, the consensus is that next year, you will see 506 00:37:35,750 --> 00:37:39,169 Suze: equities rise and bonds bouncing back a little. 507 00:37:39,790 --> 00:37:44,939 Suze: And then from the second half of '24 onward, you're 508 00:37:44,949 --> 00:37:49,080 Suze: going to see bond yields begin to rise again. 509 00:37:49,850 --> 00:37:54,090 Suze: Equities will continue to rise and will go from growth 510 00:37:54,100 --> 00:37:59,060 Suze: stocks to value cyclicals and things like that. And so again, 511 00:37:59,189 --> 00:38:04,379 Suze: in '24, '25 we should be relatively ok with everything 512 00:38:05,060 --> 00:38:10,469 Suze: and it's more in '26, '27 where things can get 513 00:38:10,479 --> 00:38:14,860 Suze: wacky on us, although I think they've been wacky right now. 514 00:38:15,510 --> 00:38:20,280 Suze: So overall, what do you do with all of this information? 515 00:38:20,969 --> 00:38:25,820 Suze: Truthfully we do what we've been doing. So even though 516 00:38:25,830 --> 00:38:29,399 Suze: I learned many, many things to apply for the future 517 00:38:29,540 --> 00:38:33,169 Suze: and technically what to look at things and the overall 518 00:38:33,179 --> 00:38:37,899 Suze: viewpoints of everybody to just sum it up for you. 519 00:38:37,909 --> 00:38:41,689 Suze: And I know we're going long, but it's ok. You 520 00:38:41,699 --> 00:38:46,899 Suze: can take it because it's not over your head. Over all. 521 00:38:47,739 --> 00:38:51,250 Suze: You may see the markets go down this year. It 522 00:38:51,260 --> 00:38:53,810 Suze: might be a good time for your dollar cost average 523 00:38:53,820 --> 00:38:59,189 Suze: into it. Then you should see the markets go up 524 00:38:59,199 --> 00:39:03,909 Suze: for next year into '25 as well. And they think 525 00:39:03,919 --> 00:39:06,149 Suze: they're gonna go up very, very high. 526 00:39:06,840 --> 00:39:12,570 Suze: Real estate is relatively just fine. Interest rates on mortgages 527 00:39:12,580 --> 00:39:17,020 Suze: are going to go to about 5%. Gold is a 528 00:39:17,030 --> 00:39:20,530 Suze: good investment. According to them again, you never invest a 529 00:39:20,540 --> 00:39:25,350 Suze: whole lot in gold and gold stocks such as Barrick 530 00:39:25,360 --> 00:39:27,428 Suze: would be a good investment, 531 00:39:27,679 --> 00:39:31,569 Suze: but you will see gold according to them go down 532 00:39:31,580 --> 00:39:35,250 Suze: to about 1850 in the next little bit here, which 533 00:39:35,260 --> 00:39:38,010 Suze: is the time to get in and then it will 534 00:39:38,020 --> 00:39:42,550 Suze: go up to about 2500 or more. So that's just 535 00:39:42,560 --> 00:39:46,689 Suze: something to think about. Many people thought that we are 536 00:39:46,699 --> 00:39:49,979 Suze: in recession. And if we're not already in recession, we 537 00:39:49,989 --> 00:39:55,050 Suze: will be in recession by when, by September of this year, 538 00:39:55,459 --> 00:39:57,050 Suze: only time will tell 539 00:39:57,600 --> 00:40:02,429 Suze: they think that very shortly here that the feds will 540 00:40:02,439 --> 00:40:06,000 Suze: start to have to lower their fed funds rate or 541 00:40:06,010 --> 00:40:10,110 Suze: we're gonna go into a really deep recession. And again, 542 00:40:10,120 --> 00:40:15,469 Suze: in doing so, interest rates hopefully will come down, inflation 543 00:40:15,479 --> 00:40:19,729 Suze: will come down. However many people will continue to lose 544 00:40:19,739 --> 00:40:24,050 Suze: their jobs. I think the advice that we've been doing 545 00:40:24,060 --> 00:40:25,689 Suze: over this past year 546 00:40:26,040 --> 00:40:28,129 Suze: is pretty much in line. 547 00:40:28,949 --> 00:40:34,520 Suze: So that's a summary of everything that I learned. 548 00:40:35,169 --> 00:40:39,979 Suze: I hope you found it interesting. All right. So again, 549 00:40:39,989 --> 00:40:46,310 Suze: Happy Mother's Day, everybody. And until next Thursday when KT 550 00:40:47,129 --> 00:40:50,659 Suze: joins me for Ask KT and Suze Anything. 551 00:40:50,899 --> 00:40:56,669 Suze: Remember today, wherever I go I will create... Are you 552 00:40:56,679 --> 00:40:59,679 Suze: going to say this every day? Yes, you are. I 553 00:40:59,689 --> 00:41:04,469 Suze: will create a more joyful, peaceful and loving world. And 554 00:41:04,479 --> 00:41:10,629 Suze: if you do that, you will be unstoppable. See you then. 555 00:41:10,639 --> 00:41:11,489 Suze: Bye bye. 556 00:41:17,070 --> 00:41:17,370 Music: Music (out)