WEBVTT - Is the American Dream Dead?

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<v Speaker 1>This episode is brought to you by P and C Bank.

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<v Speaker 1>National Association Member FDIC erness What's Up? You ever walk

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<v Speaker 2>I have a question for you to start the week,

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<v Speaker 2>and it was a controversial take, but I think as

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<v Speaker 2>a conversation that's needed to be had is the American

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<v Speaker 2>dream dead.

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<v Speaker 1>Yeah.

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<v Speaker 2>I know, they say, y'all unlucky, y'all entrepreneurs, you live

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<v Speaker 2>in America. Shout to you for Trump supporters in here,

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<v Speaker 2>go back to where you came from. Yeah, I hear you.

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<v Speaker 2>But at scale, it's a conversation that needs to be had.

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<v Speaker 3>What do you think? Yeah, for sure, that's how we

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<v Speaker 3>start the book off, for sure. So you know it's

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<v Speaker 3>definitely a little controversial, but I look at it like this,

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<v Speaker 3>as far as I'll speak on the good side. First,

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<v Speaker 3>if you're an entrepreneur, if you're trying to really chase

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<v Speaker 3>your dreams, America is flowed in a lot of ways

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<v Speaker 3>past and present, but there's no place like America. Only

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<v Speaker 3>in America. That was the slogan for Don King. So

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<v Speaker 3>America is still a place Trump.

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<v Speaker 2>I'm like, boy, hold on, hold on, don remember Don King?

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<v Speaker 3>That was only in America, that was his thing.

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<v Speaker 2>Yeah, I kill it. We gotta talk about the black

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<v Speaker 2>culture votures one day, but go ahead.

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<v Speaker 3>He's a legend though.

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<v Speaker 1>For sure.

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<v Speaker 2>I'm not taking that away.

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<v Speaker 3>Yeah, yeah, for sure. But you know, when you look

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<v Speaker 3>at the situation, as far as you know, if you

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<v Speaker 3>really America is a place where you can really get busy,

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<v Speaker 3>put your head down twenty four months, make the right moves,

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<v Speaker 3>and you can really really change your life in America.

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<v Speaker 3>So I'll start off saying that. Now, as far as

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<v Speaker 3>the American dream, when I'm referring to a lot of

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<v Speaker 3>times when I speak about the American dream being a lot,

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<v Speaker 3>is that this idea that if you work hard and

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<v Speaker 3>you make it to the middle class. Then that's the

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<v Speaker 3>golden level of life and you can, you know, retire

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<v Speaker 3>at sixty five and you can send your kids to

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<v Speaker 3>college and every that to me is a lot. The

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<v Speaker 3>middle class is a product the mortgage system in America

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<v Speaker 3>is the product of the banking system. So the idea

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<v Speaker 3>ofkay you moving from and now we're seeing the reverse.

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<v Speaker 3>People are moving from the suburbs to the city. But

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<v Speaker 3>the idea that you move from the city to a

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<v Speaker 3>low ink, from a no income neighborhood to a suburb

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<v Speaker 3>to admit mid to you know, doing okay neighborhood has

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<v Speaker 3>some level of security. It's not true. You actually probably

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<v Speaker 3>have even less security because at least when you're paying rent,

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<v Speaker 3>you're just paying rent. Wor worse that happens is you

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<v Speaker 3>missed the rent and you get kicked out. The worst

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<v Speaker 3>thing that happens when you the fault on your loan

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<v Speaker 3>is that you could actually get sued and now you

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<v Speaker 3>got four hundred thousand dollars that you got to pay

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<v Speaker 3>and then it ruins your credit forever and then you

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<v Speaker 3>So it's actually way worse to the fault on a

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<v Speaker 3>mortgage than it is to just not pay your rent.

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<v Speaker 3>You could just walk out on the rent payment. But

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<v Speaker 3>the thing about it is this, most Americans are buying

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<v Speaker 3>homes that they can't afford. That's why you need to

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<v Speaker 3>watch the show tomorrow. Most Americans are buying homes that

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<v Speaker 3>they can't afford. So when you when you're putting something

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<v Speaker 3>on heavily over a debt, so you're going debt tremendous

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<v Speaker 3>amount of debt to make sure that you're living somewhere.

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<v Speaker 3>But the average person doesn't have four thousand dollars in savings.

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<v Speaker 3>So what that tells me is that that's why we

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<v Speaker 3>have to have compassion and for homeless people because we

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<v Speaker 3>don't know how they got there, either from the mental

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<v Speaker 3>aspect or the financial aspect. But the vast majority of

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<v Speaker 3>people are not far away from being homeless, right, We're

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<v Speaker 3>all just one decision and one paycheck away from being homeless.

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<v Speaker 3>So you got to think about this stuff right where

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<v Speaker 3>it's like, Okay, if you have four thousand dollars saved,

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<v Speaker 3>then that means that you're living pretty much paycheck to paycheck.

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<v Speaker 3>And if something happens for a month, let alone two months, right,

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<v Speaker 3>if you don't have family, you're gonna be out on

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<v Speaker 3>the street. That's not a dream to me. That's more

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<v Speaker 3>of a nightmare. So you got to you gotta leverage

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<v Speaker 3>the next thirty years to live in a home that

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<v Speaker 3>you can't afford, work every single day to make sure

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<v Speaker 3>that you just make sure you're maintaining that level. Right,

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<v Speaker 3>then you're sending your kids to college. The college is

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<v Speaker 3>thirty thousand, forty fifty thousand dollars a year. Man, the

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<v Speaker 3>average person, the average person. I just said, that person

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<v Speaker 3>got four thousand dollars in saving, So how they're gonna

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<v Speaker 3>pay thirty thousand dollars a year. Well, what happens you

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<v Speaker 3>student loans. So now you're in debt from your house.

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<v Speaker 3>The kids are in debt for their education. They're getting

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<v Speaker 3>degrees most of the time, that's not even going to

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<v Speaker 3>really advance them in life. So they're starting life out

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<v Speaker 3>with one hundred and fifty thousand dollars to the loan

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<v Speaker 3>debt and they're still not even able to find a job. Right.

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<v Speaker 3>And then when you look at it from a standpoint

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<v Speaker 3>of wages have stayed the same for the last thirty

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<v Speaker 3>years for the most part, but the.

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<v Speaker 2>Cost of adjusted for interest rates.

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<v Speaker 3>And inviation, the cost of living has gone up tremendously,

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<v Speaker 3>So it's like a it's like this on the chart.

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<v Speaker 3>So if wages are staying the same, the cost of

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<v Speaker 3>living is going up. The next question is how people

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<v Speaker 3>able to survive, how they buy in groceries. Is it's

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<v Speaker 3>a direct correlation to why credit card debt is at

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<v Speaker 3>are all time high and every year it becomes a

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<v Speaker 3>new all time high twllions of dollars of credit card debt.

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<v Speaker 3>Right because the difference that people are not making in

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<v Speaker 3>their income they're supplementing putting it on debt. So you're

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<v Speaker 3>living somewhere that you can't afford, You're sending your kids

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<v Speaker 3>to school for them that they can't afford. You're putting

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<v Speaker 3>yourself in debt on the on the home, you're putting

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<v Speaker 3>yourself in debt for the school, and then you're putting

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<v Speaker 3>yourself in even more debt to even just live day

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<v Speaker 3>to day life. That to me is a triple recipe

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<v Speaker 3>for disaster. We don't even talk about car payments and

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<v Speaker 3>in other and other forms of debt. So that's not

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<v Speaker 3>a dream, that's a nightmare. That's what most people. But

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<v Speaker 3>psychologically you can say, okay, well, I'm still doing better

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<v Speaker 3>than I was or somebody that's in abject poverty because

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<v Speaker 3>I'm not, you know, waiting on food lines and I'm

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<v Speaker 3>not starving. I have meals coming in. I could go

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<v Speaker 3>to Miami two times a year. But it's like that

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<v Speaker 3>dream is to keep you something. It's like putting a

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<v Speaker 3>carrot in front of the rabbit, but having them on

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<v Speaker 3>the treadmill. You could see it. Because if you're an

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<v Speaker 3>abject poverty now you you well, you don't have no hope.

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<v Speaker 3>That's when you revolt, right, But when you got to

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<v Speaker 3>keep you some level of hope, and they got to

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<v Speaker 3>keep you some level of your better than somebody else.

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<v Speaker 3>So that's the trick even with like white supremacy, with

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<v Speaker 3>poor white people that they feel like at the very

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<v Speaker 3>least they're white. So they made them feel emboldened by

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<v Speaker 3>that because they might not have anything else. But they're like, Okay,

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<v Speaker 3>I still feel good about myself because I'm white, living

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<v Speaker 3>in the portance, living in the poorer states in America,

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<v Speaker 3>having you know, health issues. Can't read all types of shit,

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<v Speaker 3>So I just see that as a trap to the

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<v Speaker 3>American dream. That's not real to me. That's more of

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<v Speaker 3>a nightmare. But that's my humble opinion, How do you

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<v Speaker 3>feel about.

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<v Speaker 2>It when statements like this are made. I always like

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<v Speaker 2>to go to the origins of it, and I would

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<v Speaker 2>love to ask the question American dream for whom I

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<v Speaker 2>didn't say America and dream for citizens. So if I

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<v Speaker 2>look at the banks, if credit card debt is that

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<v Speaker 2>the highest has ever been, mortgages are higher than they've

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<v Speaker 2>ever been, the average payment for a car is I

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<v Speaker 2>read seven hundred and seventy two dollars per month, which

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<v Speaker 2>is insane. And then if undergrad loans are higher than

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<v Speaker 2>ever and now there's degradation in even going to college

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<v Speaker 2>and having a pathway. Like most kids who go to

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<v Speaker 2>school now they don't know what career path are going

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<v Speaker 2>to take. At least when we went to college, or

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<v Speaker 2>the thought was in elementary and high school, go to college,

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<v Speaker 2>you'll get a job, damn mere, Guaranteed you won't have

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<v Speaker 2>any issues. I think the American dream may be dead

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<v Speaker 2>for the middle class, but for those who put this

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<v Speaker 2>financial level of economic terrorism together, I think the dream

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<v Speaker 2>is live and well for them for sure. I don't

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<v Speaker 2>think anything at this scale happens by accident. And I've

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<v Speaker 2>always said it like the middle class has been eroded,

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<v Speaker 2>and people try and push back on it, but when

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<v Speaker 2>you look at the actual data, people are suffering at

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<v Speaker 2>scale worldwide while the middle is being crunched. So yeah,

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<v Speaker 2>do I think the American dream is dead? For the citizens? Yes.

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<v Speaker 2>For the institutions, I think they're happier than ever. Because

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<v Speaker 2>now if I have a class of people that we're

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<v Speaker 2>doing well, and I somewhat eradicate them through AI or

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<v Speaker 2>scaling inflation corrections in the market market manipulation, I can

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<v Speaker 2>control the population a lot better than a post and

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<v Speaker 2>if everyone is doing well. So But you guys put

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<v Speaker 2>it in the comments, what do you think is American

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<v Speaker 2>dream live and well? But the picka fins go to

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<v Speaker 2>college guaranteed employment?

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<v Speaker 4>No, that's over with An illegal alien from Guatemala charged

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<v Speaker 4>with raping a child in Massachusetts. An MS thirteen gang

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<v Speaker 4>member from El Salvador accused of murdering a Texas man

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<v Speaker 4>of Venezuelan charged with filming and selling child pornography in Michigan.

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<v Speaker 4>These are just some of the heinous migrant criminals caught

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<v Speaker 4>because of President Donald J. Trump's leadership. I'm Christy nom

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<v Speaker 4>the United States Secretary of Homeland Security under President Trump,

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<v Speaker 4>attempted illegal border crossings are at the lowest levels ever recorded,

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<v Speaker 4>and over one hundred thousand illegal aliens have been arrested.

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<v Speaker 4>If you are here illegally, your next you will be

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<v Speaker 4>fine nearly one thousand dollars a day, imprisoned, and deported.

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<v Speaker 4>You will never return. But if you register using our

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<v Speaker 4>CBP home app and leave now, you could be allowed

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<v Speaker 4>to return legally. Do what's right, leave now. Under President Trump,

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<v Speaker 4>America's laws, border and families will be protected.

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<v Speaker 3>Sponsored by the United States Department of Homeland Security,