WEBVTT - Record-Breaking U.S. Credit Card Debt: Could it Trigger a National Crisis? 0:00:00.040 --> 0:00:03.600 An illegal alien from Guatemala charged with raping a child 0:00:03.680 --> 0:00:07.480 in Massachusetts. An MS thirteen gang member from Al Salvador 0:00:07.720 --> 0:00:11.840 accused of murdering a Texas man of Venezuelan charged with 0:00:11.920 --> 0:00:15.840 filming and selling child pornography in Michigan. These are just 0:00:15.920 --> 0:00:19.680 some of the heinous migrant criminals caught because of President 0:00:19.720 --> 0:00:23.320 Donald J. Trump's leadership. I'm Christy nom the United States 0:00:23.320 --> 0:00:28.120 Secretary of Homeland Security. Under President Trump, attempted illegal border 0:00:28.160 --> 0:00:31.680 crossings are at the lowest levels ever recorded, and over 0:00:31.760 --> 0:00:34.960 one hundred thousand illegal aliens have been arrested. If you 0:00:35.040 --> 0:00:38.920 are here illegally, your next you will be fined nearly 0:00:39.000 --> 0:00:43.000 one thousand dollars a day, imprisoned, and deported. You will 0:00:43.040 --> 0:00:46.680 never return. But if you register using our CBP home 0:00:46.720 --> 0:00:50.120 app and leave now, you could be allowed to return legally. 0:00:50.479 --> 0:00:55.240 Do what's right. Leave now. Under President Trump, America's laws, 0:00:55.400 --> 0:00:57.840 border and families will be protected. 0:00:57.920 --> 0:01:00.000 Sponsored by the United States Department of Homeland Security. 0:01:00.200 --> 0:01:05.720 It's more expensive to buy a car than ever and 0:01:05.760 --> 0:01:09.440 the credit card debt has almost one trillion dollars, So 0:01:10.200 --> 0:01:12.720 five hundred and seventy five dollars is the average car 0:01:12.840 --> 0:01:16.319 payment for a new car. Four hundred and thirty is 0:01:16.319 --> 0:01:20.640 the average payment for a used car. Talked about credit 0:01:20.680 --> 0:01:24.640 card debt all time high, and the average interest rate 0:01:24.680 --> 0:01:26.600 for the credit card is twenty percent interest. 0:01:27.240 --> 0:01:28.160 What so. 0:01:30.120 --> 0:01:33.600 Wait, yeah, how is this impactful for the economy? 0:01:34.520 --> 0:01:39.200 I think going to the political landscape, I know they 0:01:39.280 --> 0:01:42.520 keep reporting that the job market is doing well. Going 0:01:42.560 --> 0:01:45.160 back to your ideology, I don't feel that and see 0:01:45.160 --> 0:01:47.600 that like in the threads that I'm in, not on threads, 0:01:47.600 --> 0:01:53.360 but like in Instagram and telegram, Like there's a great 0:01:53.400 --> 0:01:56.480 portion of people who just don't even want to work 0:01:56.520 --> 0:01:59.560 because they're like, what's the point of working my entire life? 0:02:00.360 --> 0:02:01.840 Even if we talk about a four O one K, 0:02:02.240 --> 0:02:04.600 A four one k is not going to give you 0:02:04.640 --> 0:02:07.000 the same kind of games if you invested for yourself, 0:02:07.240 --> 0:02:09.240 because it's throttling inside of the system. 0:02:09.280 --> 0:02:09.720 I get that. 0:02:10.440 --> 0:02:13.080 I think most people are feeling, especially in this generation, 0:02:14.160 --> 0:02:18.280 are feeling a little bit hopeless, especially with like mortgages 0:02:18.320 --> 0:02:23.000 going up. The rental landscape is incredibly high. Credit card 0:02:23.040 --> 0:02:24.799 debt is like at one of its top levels of 0:02:24.840 --> 0:02:28.960 all time. As a country, I think we need to 0:02:28.960 --> 0:02:32.400 do a much better job of like finding safety and 0:02:32.639 --> 0:02:35.360 this job landscape. So even like, let's take Twitter in 0:02:35.400 --> 0:02:37.840 a way, everyone was fired, I think a lot of 0:02:37.880 --> 0:02:40.000 people need to be let go because it's bad leadership. 0:02:40.480 --> 0:02:42.359 But then you can't say to them, well, you can't 0:02:42.400 --> 0:02:44.399 have a job anywhere else, and don't go to Facebook 0:02:44.480 --> 0:02:46.639 or excuse, don't go to Meta because you were over 0:02:46.680 --> 0:02:47.359 here at Twitter. 0:02:47.160 --> 0:02:48.560 When you violently threw them out. 0:02:49.160 --> 0:02:52.480 I think as a country, one of our biggest risks 0:02:52.680 --> 0:02:55.760 is the implosion from the inside that Ray Dalio talks about, 0:02:56.160 --> 0:02:58.720 is there's just not enough good quality jobs and not 0:02:58.919 --> 0:03:00.200 enough good quality company. 0:03:02.040 --> 0:03:05.880 And that is a big stain on America. 0:03:05.960 --> 0:03:07.639 Like it's the reasona why we only come here and 0:03:07.680 --> 0:03:10.919 talk about maybe twelve companies each episode. Most of them 0:03:10.919 --> 0:03:14.080 are not worth their weight in gold. They're not like 0:03:14.760 --> 0:03:17.880 and I search high and low. But we're going through 0:03:17.880 --> 0:03:22.040 a revolutionary change and also an industrial change, and it's 0:03:22.080 --> 0:03:23.680 just not like a lot of good companies. But as 0:03:23.680 --> 0:03:25.960 a result, we are not creating a lot of high 0:03:26.040 --> 0:03:28.720 quality jobs either. And it's one of the biggest threats 0:03:28.760 --> 0:03:32.800 to our GDP, Like our stud loan bubble shouldn't be 0:03:32.840 --> 0:03:35.320 about to burst and at the highest levels being credit 0:03:35.360 --> 0:03:39.160 card debt, and then we haven't even talked about on 0:03:39.200 --> 0:03:42.040 the mortgage side as well, like the debt bubble. We're 0:03:42.040 --> 0:03:45.120 in like a bubble of everything right now and everyone's 0:03:45.160 --> 0:03:49.280 acting like everything's fine and leadership won't address this. We 0:03:49.400 --> 0:03:51.560 have to make a change quickly, or I'm very fearful 0:03:51.600 --> 0:03:54.840 like people you guys put in the comments, like when 0:03:54.880 --> 0:03:57.839 you go even applying for a job, most people don't 0:03:57.840 --> 0:03:59.280 even feel like they're going to get a call back 0:03:59.320 --> 0:04:05.320 or a great interview, like the disdain for even applying, 0:04:06.640 --> 0:04:09.040 or companies not even having grace to say, hey, it's 0:04:09.080 --> 0:04:11.000 not a good fit, but maybe I can put you here, 0:04:11.360 --> 0:04:13.160 or even when they tell you, hey, we'll keep your mind, 0:04:13.280 --> 0:04:15.760 you know that they're not keeping your mind like people 0:04:15.800 --> 0:04:17.560 have just quit. And also that has led to the 0:04:17.760 --> 0:04:20.960 entrepreneurship boone as a result, because people have had to 0:04:21.000 --> 0:04:24.920 create out of desperation or out of meat. But one 0:04:24.920 --> 0:04:26.719 of the biggest mistakes I think our country has made 0:04:26.800 --> 0:04:31.760 is not securing our job market for our citizens. 0:04:33.400 --> 0:04:35.120 Yeah, well, we saw a slow down in the job 0:04:35.160 --> 0:04:38.000 report speak, which obviously. 0:04:39.360 --> 0:04:42.400 What the comments are looking at it. Ernest, what's up? 0:04:42.480 --> 0:04:44.960 You ever walk into a small business and everything just 0:04:45.120 --> 0:04:48.279 works like the checkout is fast, the receipts are digital, 0:04:48.800 --> 0:04:51.799 tipping is a breeze, and you're out the door before 0:04:51.800 --> 0:04:55.960 the line even builds odds are they're using Square. We 0:04:56.120 --> 0:04:58.680 love supporting businesses that run on Square because it just 0:04:58.680 --> 0:05:01.919 feels seamless. Whether it's a local coffee shop, a vendor 0:05:01.960 --> 0:05:04.240 at a pop up market, or even one of our 0:05:04.279 --> 0:05:07.960 merch partners, Square makes it easy for them to take payments, 0:05:08.160 --> 0:05:11.920 manage inventory, and run their business with confidence, all from 0:05:12.000 --> 0:05:15.400 one simple system. If you're a business owner or even 0:05:15.480 --> 0:05:19.000 just thinking about launching something soon, Square is hands down 0:05:19.040 --> 0:05:22.080 one of the best tools out there to help you start, run, 0:05:22.279 --> 0:05:25.640 and grow. It's not just about payments, it's about giving 0:05:25.640 --> 0:05:27.720 you time back so you can focus on. 0:05:27.680 --> 0:05:29.160 What matters most ready. 0:05:29.160 --> 0:05:32.560 To see how Square can transform your business, visit Square 0:05:32.640 --> 0:05:37.159 dot com backslash go backslash eyl to learn more that 0:05:37.360 --> 0:05:42.800 Square dot com backslash, go backslash eyl. Don't wait, don't hesitate. 0:05:42.920 --> 0:05:45.280 Let's Square handle the back end so you can keep 0:05:45.320 --> 0:05:51.400 pushing your vision forward. This episode is brought to you 0:05:51.440 --> 0:05:53.719 by P and C Bank. A lot of people think 0:05:53.760 --> 0:05:57.640 podcasts about work are boring, and sure, they definitely can be, 0:05:58.160 --> 0:06:01.440 but Understanding a professional's routine shows us how they achieved 0:06:01.480 --> 0:06:04.360 their success little by little, day after day. 0:06:05.320 --> 0:06:07.800 It's like banking with P and C Bank. It might 0:06:07.960 --> 0:06:08.839 seem boring. 0:06:08.560 --> 0:06:11.400 The safe plan and make calculated decisions with your bank, 0:06:11.839 --> 0:06:14.320 but keeping your money boring is what helps you live 0:06:14.400 --> 0:06:18.480 a more happily fulfilled life. P and C Bank Brilliantly 0:06:18.560 --> 0:06:23.120 Boring since eighteen sixty five. Brilliantly Boring since eighteen sixty 0:06:23.120 --> 0:06:26.400 five is a service mark of the PNC Financial Service Group, Inc. 0:06:26.880 --> 0:06:30.279 P and C Bank National Association Member FDIC. 0:06:32.040 --> 0:06:35.719 An illegal alien from Guatemala charged with raping a child 0:06:35.720 --> 0:06:39.520 in Massachusetts. An MS thirteen gang member from Al Salvador 0:06:39.760 --> 0:06:43.919 accused of murdering a Texas. Man of Venezuelan charged with 0:06:43.960 --> 0:06:47.840 filming and selling child pornography in Michigan. These are just 0:06:47.960 --> 0:06:51.680 some of the heinous migrant criminals caught because of President 0:06:51.760 --> 0:06:55.360 Donald J. Trump's leadership. I'm Christy nom the United States 0:06:55.360 --> 0:06:59.920 Secretary of Homeland Security. Under President Trump, attempted illegal bord 0:07:00.200 --> 0:07:03.720 crossings are at the lowest levels ever recorded, and over 0:07:03.800 --> 0:07:07.040 one hundred thousand illegal aliens have been arrested. If you 0:07:07.080 --> 0:07:10.920 were here illegally, your next you will be fine nearly 0:07:11.040 --> 0:07:15.040 one thousand dollars a day. Imprisoned and deported, you will 0:07:15.080 --> 0:07:18.720 never return. But if you register using our CBP home 0:07:18.760 --> 0:07:22.160 app and leave now, you could be allowed to return legally. 0:07:22.520 --> 0:07:27.240 Do what's right. Leave now. Under President Trump America's laws, 0:07:27.440 --> 0:07:29.880 border and families will be protected. 0:07:30.000 --> 0:07:32.080 Sponsored by the United States Department at Homeland Security. 0:07:32.200 --> 0:07:34.320 It's like, all right, well, inflation is working. 0:07:35.560 --> 0:07:39.840 So, I mean, we we talked about some of the 0:07:39.920 --> 0:07:41.520 jobs and they're not the best, right and so we 0:07:41.560 --> 0:07:46.040 talked about leisure, hospitality that's going down. We've talked about 0:07:46.080 --> 0:07:50.040 transportation that's going down. Warehousing is going down. But a 0:07:50.080 --> 0:07:52.320 couple sectors that have going up inside the job market 0:07:52.360 --> 0:07:56.760 healthcare up forty one thousand, social assistance, and construction. So 0:07:56.800 --> 0:08:01.240 that construction is always encouraging, right, because that means that real. 0:08:01.200 --> 0:08:03.200 Estate is going to be an impact of that. 0:08:03.960 --> 0:08:06.720 Over the companies that are inside of that will work, 0:08:06.880 --> 0:08:10.000 reads will increase. So construction is always some disencouragement because 0:08:10.080 --> 0:08:12.520 more things are being built. But the problem is if 0:08:12.520 --> 0:08:14.480 the inturrates are high, who's going to be able to 0:08:14.480 --> 0:08:18.680 afford to live inside those things? Absolutely, So it goes 0:08:18.680 --> 0:08:20.760 back to that balance of like trying to have a 0:08:20.840 --> 0:08:23.840 soft landing, but I don't know how you do it. 0:08:23.840 --> 0:08:25.000 It seems almost impossible. 0:08:25.000 --> 0:08:26.880 And then Dave that the Gross to the LA Show 0:08:27.280 --> 0:08:29.600 told us about the income and commercial real estatele so 0:08:29.640 --> 0:08:30.720 we have commercial. 0:08:30.400 --> 0:08:32.000 Real estate boom. 0:08:32.440 --> 0:08:35.560 Currently there only seven companies keeping the S and P 0:08:36.120 --> 0:08:39.480 five hundred up suit loan bubble on the horizon. 0:08:39.559 --> 0:08:40.840 Then we have credit card debt. 0:08:41.320 --> 0:08:48.319 Yeah, it's been a gross mismanagement of GDP fund capital 0:08:48.320 --> 0:08:50.320 deployment for like the last thirty or forty years, and 0:08:50.360 --> 0:08:53.040 no one wants to say anything and act like everything's okay, 0:08:53.280 --> 0:08:56.760 even crypto. The entire case of crypto being more valued 0:08:57.520 --> 0:09:00.000 came from two thousand and seven and eight, the mistrust 0:09:00.160 --> 0:09:02.760 in the banking system. Then the banks tried to like 0:09:02.840 --> 0:09:03.440 crush it. 0:09:03.440 --> 0:09:04.120 It didn't work. 0:09:04.440 --> 0:09:06.760 Now they want to take over the thing that was 0:09:06.760 --> 0:09:13.640 the alternative to them after people lost trust, Like, come on, man, like, 0:09:13.679 --> 0:09:17.240 we have to do better. We're slowly eroding from the inside. 0:09:17.320 --> 0:09:18.640 And I know people gonna be like, what, there's no 0:09:18.640 --> 0:09:20.800 where else to go but to America. I hear that, 0:09:21.200 --> 0:09:24.040 But these are the ways that you're gonna have to 0:09:24.080 --> 0:09:27.640 think if you want to be an investor. Because and 0:09:27.679 --> 0:09:29.600 the school was saying that this shout at the Fatman 0:09:29.640 --> 0:09:31.480 School people saying it like, y'all wish you all to 0:09:31.480 --> 0:09:32.520 listen from the very beginning. 0:09:33.760 --> 0:09:35.080 This is all stuff he said publicly. 0:09:35.120 --> 0:09:36.360 He was like, Yo, when I got divorced, I have 0:09:36.400 --> 0:09:39.160 to pay sixteen thousand a month in alimony. And advisor 0:09:39.200 --> 0:09:41.000 told him if he had to put sixteen thousand into 0:09:41.000 --> 0:09:43.240 the market for five or six years, every twenty four million. 0:09:43.440 --> 0:09:45.360 He was like, I didn't know these things until I 0:09:45.400 --> 0:09:48.560 came across y'all on this show. I just didn't know. 0:09:48.559 --> 0:09:51.280 Because in the entertainment business, that's another way that they 0:09:51.320 --> 0:09:53.360 get us to generate a ton of revenue but give 0:09:53.400 --> 0:09:55.880 us very little equity and very little money in proportion 0:09:55.960 --> 0:09:59.160 to what we're actually worth. That's why it feels like 0:09:59.200 --> 0:10:00.559 when we come on here, we get to talking that 0:10:00.640 --> 0:10:03.360 shit as not used to being done, because most artists, 0:10:03.440 --> 0:10:08.760 or most black entertainers or black entrepreneurs are usually pigeonhole 0:10:08.800 --> 0:10:10.920 because they're not making that much money. 0:10:11.520 --> 0:10:12.680 And now we're seeing a new. 0:10:12.520 --> 0:10:15.520 Revolution where a lot more of us are are a 0:10:15.520 --> 0:10:18.400 little bit financially free and a lot more financially savvy, 0:10:19.000 --> 0:10:22.160 and they're trying to stop that as well. So kudos 0:10:22.200 --> 0:10:24.480 all of you who have been implemented the advice. Shout 0:10:24.480 --> 0:10:26.520 out to my Man's scoop. I appreciate you, and you 0:10:26.559 --> 0:10:30.559 can Floyd in that New York show great investment. The 0:10:30.600 --> 0:10:34.120 advice was given there too. But I think we have 0:10:34.200 --> 0:10:36.280 to be very mindful of the environment that we're in. 0:10:36.720 --> 0:10:39.360 But the only way to outpace inflation is to invest. 0:10:39.920 --> 0:10:44.040 If inflation goes up to seven percent, yep, what are 0:10:44.080 --> 0:10:45.800 you gonna do. You have to invest in the greatest 0:10:45.800 --> 0:10:48.920 companies on earth in order to outpace inflation, which makes 0:10:48.960 --> 0:10:50.040 you go broke a lot faster. 0:10:50.640 --> 0:10:53.520 Yeah, And we are expecting in two weeks another rate 0:10:53.600 --> 0:10:56.520 hike with more to come. So that was I know 0:10:56.559 --> 0:10:59.959 they paused in June, which most people are critical. Why 0:11:00.120 --> 0:11:02.160 pause if we know that there's still more to raise 0:11:03.240 --> 0:11:04.880 the more they said, maybe two to three more rate 0:11:04.920 --> 0:11:08.320 heights before twenty twenty three is out. So we're not 0:11:08.360 --> 0:11:10.040 out the words by any stretch of the imagination. 0:11:11.720 --> 0:11:15.680 Tough an illegal alien from Guatemala charged with raping a 0:11:15.760 --> 0:11:19.280 child in Massachusetts. An MS thirteen gang member from Al 0:11:19.320 --> 0:11:24.160 Salvador accused of murdering a Texas man of Venezuelan charged 0:11:24.160 --> 0:11:28.080 with filming and selling child pornography in Michigan. These are 0:11:28.120 --> 0:11:31.640 just some of the heinous migrant criminals caught because of 0:11:31.679 --> 0:11:35.360 President Donald J. Trump's leadership. I'm Christy Noman, the United 0:11:35.400 --> 0:11:40.160 States Secretary of Homeland Security. Under President Trump, attempted illegal 0:11:40.200 --> 0:11:43.840 border crossings are at the lowest levels ever recorded, and 0:11:43.880 --> 0:11:47.240 over one hundred thousand illegal aliens have been arrested. If 0:11:47.280 --> 0:11:50.920 you are here illegally, your next you will be fined 0:11:51.000 --> 0:11:55.080 nearly one thousand dollars a day, imprisoned, and deported. You 0:11:55.160 --> 0:11:58.679 will never return. But if you register using our CBP 0:11:58.880 --> 0:12:01.600 home app and leave now, you could be allowed to 0:12:01.640 --> 0:12:06.480 return legally. Do what's right. Leave now. Under President Trump, 0:12:06.640 --> 0:12:09.760 America's laws, border and families. 0:12:09.400 --> 0:12:11.800 Will be protected. Sponsored by the United States Department of 0:12:11.800 --> 0:12:12.440 Homeland Security.