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Speaker 1: What are your thoughts on Bousy?
Speaker 3: It's a commentary Boozy badass, another iconic class love get that?
Speaker 4: What are your thoughts or words today? Comment terry that
Speaker 4: America is the brocus has ever been. You have to
Speaker 4: change your lifestyle and companies have to layoff thousands of workers.
Speaker 1: So is America as brocused? Is that even a word?
Speaker 1: I'm not sure? But is America as brocused as it's
Speaker 1: ever been?
Speaker 3: Of course, Boosey is not an economist by any stretch
Speaker 3: of the imagination, but.
Speaker 1: Thank you for the disclaimer.
Speaker 3: Yeah, and he's not an iconic class like our guest
Speaker 3: is coming on. But it's interesting when I see Cardi
Speaker 3: talk about politics, Boosey talk about the economy. I do
Speaker 3: feel there's a titan is America in the worst financial
Speaker 3: shape has ever been in I don't think so, but
Speaker 3: I will say things are a lot tighter, like GDP
Speaker 3: fel one point six percent in Q one compared to
Speaker 3: three point four percent last year. Even the fall of
Speaker 3: Tesla over the last two months has been reflective. Apple
Speaker 3: being down has been reflective. Retail sales are not as
Speaker 3: amazing as they should or could be. But I do
Speaker 3: think things are tighter for people. Even when I'm talking
Speaker 3: to people offline and the occasional time I may ride
Speaker 3: past Walmart Rashott, I'm not going in.
Speaker 1: I may go to park day.
Speaker 3: When I'm talking to people, They're like, Hey, why isn't
Speaker 3: the money flowing? And that's why I always say less
Speaker 3: than to go to the M two money supply, Like
Speaker 3: we printed money so fast in twenty twenty that now
Speaker 3: when we have reverted back to the mean of the
Speaker 3: money that's available, it's not as much money available if
Speaker 3: you are in the middle class, like really now one ten,
Speaker 3: one hundred and twenty thousand is middle class, and we
Speaker 3: were growing up like one hundred grand was the goal.
Speaker 3: So I think there's been a major adjustment in the economy.
Speaker 3: Hopefully things get better over the next year or two.
Speaker 3: But I don't think it's the Brooks we've ever been.
Speaker 3: But I think it's the Titus has been properly over
Speaker 3: the last six or seven years, especially for African American communities.
Speaker 2: I think it's interesting that he has a perspective on
Speaker 2: it because he could be talking.
Speaker 1: About a lot of the other things that have no substance.
Speaker 1: So that's a great point.
Speaker 2: Right, This brings awareness to a topic that is vidently important,
Speaker 2: and so I understood it because it could feel.
Speaker 1: Like that right in our communities.
Speaker 2: If you ask people when they go to the supermarket,
Speaker 2: does it cost more?
Speaker 1: Yes, how it does.
Speaker 2: If you talk to people about has their credit card
Speaker 2: debt increase because the interest rates have gone on dramatically,
Speaker 2: they can feel that are they able to finance a
Speaker 2: car loan it's costing more? So yes, it feels that way. Statistically,
Speaker 2: it's not the case if we're and you said one
Speaker 2: hundred thousand. If you look at statistically, America and some
Speaker 2: other power in countries, the level of wealth has grown
Speaker 2: since twenty twenty. I think America in twenty twenty had
Speaker 2: seven point six millionaires yep to make twenty three. That
Speaker 2: number has grown to twenty twenty two million, which is
Speaker 2: six percent of the population in the country, and so the.
Speaker 1: Wealth has grown.
Speaker 2: I don't know if the middle class is at one
Speaker 2: hundred thousand anymore. I feel like one hundred thousand. I
Speaker 2: mean that you might just be grey. Give it, it
Speaker 2: might be, it might be break even. So I understood
Speaker 2: why you said it. I'm more impressed about the consciousness
Speaker 2: of the state of the economy because again he's right.
Speaker 2: If he's talking about people in this you can feel it.
Speaker 2: You hear inflation. This is something that again wasn't brought up,
Speaker 2: but you know, you hear the word inflation. What does
Speaker 2: that mean? And now people are looking at it and
Speaker 2: feeling the effects of it. So it's understandable to have
Speaker 2: that sentiment, which makes it even more important shows like
Speaker 2: this Being educated and around the topic of financial education
Speaker 2: is so important so that you're not left out when
Speaker 2: we're talking about it feels it. It feels like, no, you're
Speaker 2: on the other end of that, Right, you've educated yourself,
Speaker 2: you've invested, You're starting to be part of that that
Speaker 2: trajectory that's upwards when we're talking about wealth creation.
Speaker 3: To both of you, do you think that the printing
Speaker 3: of the money in twenty twenty was the cost for
Speaker 3: the increase for the additional millionaires that were produced, or
Speaker 3: do you think there was some other factors that played
Speaker 3: a significant.
Speaker 1: Role in that.
Speaker 4: Yeah, I feel that it's a variety of different things,
Speaker 4: but I feel that inflation goes into play, and I
Speaker 4: feel that it's actually I actually feel the opposite of
Speaker 4: what he said. He said in America's the Brocus has
Speaker 4: ever been. I actually feel like this is the most money.
Speaker 4: This is the more people have money now than ever before.
Speaker 4: And this is me, This is not just me from
Speaker 4: my personal perspective, This is me talking to other people
Speaker 4: in different areas. I talked to a contractor and he
Speaker 4: said that he's never seen people with this much money,
Speaker 4: people paying four hundred thousand dollars just to get their.
Speaker 1: Addict done in cash.
Speaker 4: Right, We've never seen so many people buying properties in
Speaker 4: cash over asking right. Cars, You couldn't you can't even
Speaker 4: asking right. You can't buy a Mercedes Benz right now,
Speaker 4: Like you know this, you got to wait six months
Speaker 4: for a g Wagon. Like there's so many different things
Speaker 4: that it's the tale of two economies.
Speaker 1: That's a great point.
Speaker 4: The richer getting richer while the poor is getting poor.
Speaker 4: So he's speaking from one aspect of it, but from
Speaker 4: the overall general sense of the economy, I don't think
Speaker 4: that there's ever been a time but there's been this
Speaker 4: much money that's been flowing and it's been happening for Yeah,
Speaker 4: like you said, you know, pumping money into the economy.
Speaker 4: But then you know, real estate values have skyrocketed. That's
Speaker 4: helped a lot of people's wealth. Stock prices have skyrocketed.
Speaker 4: That's helped a lot of people's wealthy some crypto that's
Speaker 4: helped a lot of people starting businesses, a lot of entrepreneurs,
Speaker 4: especially in the tech space, and those businesses have taken off.
Speaker 4: That's that's helped skyrocket a lot of people's wealth.
Speaker 1: So yeah, I.
Speaker 4: Kind of look at it from a different standpoint. But
Speaker 4: this is why it's vitally important to make relationships and
Speaker 4: to educate yourself, right because if you the next five
Speaker 4: years are probably going to be the most important time
Speaker 4: in our generation and potentially human history. So if you're
Speaker 4: not on the winning side of this coin, the losing
Speaker 4: side of this coin looks very dire, right because you
Speaker 4: look at over two hundred million jobs globally taking out
Speaker 4: from AI right when you look at the price of
Speaker 4: real estate is going to keep going up. Inflation, everything
Speaker 4: is going to go up. And we know that even
Speaker 4: if you have a job, jobs usually stay the same
Speaker 4: as far as the amount of money that they're being
Speaker 4: especially jobs that don't require extremely higher education. So you're
Speaker 4: going to become priced out to the point where not
Speaker 4: only can you not even buy a home, but you
Speaker 4: can't even afford the rent. So now you're going to
Speaker 4: have to have roommates. Now you're going to have to have,
Speaker 4: you know, car pooling to even have a car. This
Speaker 4: is something that I don't want to be a doomsday
Speaker 4: situation here, but is vitally important. So that's why you
Speaker 4: have to watch market mondays, you have to watch and listen,
Speaker 4: earn your Lisia, you have to go to invest FST
Speaker 4: get your tickets August twenty third to August twenty fifth,
Speaker 4: Because it's not just what you know, it's also who
Speaker 4: you know, you know relationships are vitally important.
Speaker 5: An illegal alien from Guatemala charged with raping a child
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