Market crash warning. Unemployment just spiked to Recession Levels.
The economy is teetering on the edge of a recession, with the unemployment rate skyrocketing up to 4.3% from its low last year. Moreover – 7.2 million Americans are now unemployed.
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Suggesting that the economy is heading towards a recession, and that the stock market and housing market could be on the verge of a crash. Both stocks and real estate are in record bubbles in 2024, so if there is a downturn in the real economy, asset values could plummet.
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50 Comments
Every time unemployment has increased at this pace recession has followed. Shortly thereafter.
Next 2-3 months will be very interesting.
St Pete’s is garbage
Boomers and republicans on this chat are hilarious
Who actually listens to this clown who has been screaming market crash forever? If anything, once feds drop interest rate, price of homes will skyrocket
You should use the U6 rate (since 1994) for a correct comparison of historic levels of inflation
Warning? My shares have been plummetting for the last 3 days.
Jesus saves, live by faith not by sight, we will always worry, stop and be happy with the Lord! Read the Bible and stop the madness, history of America was much worse
Vote Trump !
We need a strong economy.
We been in a recession for over a year now. Blame all this on corrupted Fake President Joe Biden & Democrats.
Don't help when van guard. Black rock . Ss have bought a Lotta houses and made them un rentable cuz so high and have to make 3or 5x the rent…
Take that unemployment number with a grain of salt. The rolling 3 month average for new jobs added to the economy is still above the 20 year average. But way more importantly the household surveys for employment have been off by over a full percentage point from the businesses survey which are net positive +1% from a year ago, underlined by the fact that GDP growth is firmly in the positive. The household surveys always lag the business surveys which reported INCREASED hours in production and manufacturing. So it's not adding up that we're in "recession".
At any rate cooling the 200k and 300k monthly jobs we got used to in 2021-2023 down to mid 100k's was the whole point of the Fed squeezing the middle class spender and the bananas real estate frenzy. Mission accomplished.
But definitely BAD news for the billionaires looking for an extension on their historic tax cuts. Which is potentially good news for middle class homeowners and renters. They'll be using those tax collections to shore up middle class budgets with a likely return of the earned income and child tax credits. And if foreclosures tick up because prices got way out of control they'll definitely be rent and mortgage assistance. But not before they let a massive downturn in real estate take hold first so that first time buyers can finally buy some houses at the new lower rates and lower house prices now that new inventory is coming into the market in a late wave. Existing home sales will have to compete with that flood of new houses which will definitely cool the prices of old houses.
This is what the government wants and the elites want.. the American people dependent on them… they want Socialism if trump don't get back in office we are done but it's gonna take more then 4 years to pull us outta this
All this just to sell us the Reventure app.
It began in march ❤
My wife just took 2 phone interviews to leave Florida. We have got to the point where we are spending so much just to cover insurance and other fees that we don't see the reason to stay here anymore. We can sell our 3,600 sq ft home and buy a 6k sq ft home in Kentucky for the same rate!! They pay almost double what my wife makes in Orlando…. Give me a break. Florida is broken. So many of us in the Kissimmee/St Cloud area want to leave.
Wrong again. Now we go -% going down. For those with means its time to buy by Jan 25. Real-estate income.
One small drop and people act like it's the end of the world. We were storming for almost 2 years straight. My guess is this is another exaggeration. We might go another month in the red and then bounce right back up.
Houses are still selling for over asking in the Northeast people want to move north!
If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you…. prevent inflation
Scrolled through his videos they are all doom
And gloom
The sky is falling the sky is falling
Hold on a minute!! This is impossible!! Joe said he has our economy stronger than it's been since George Washington!!
Why sell everything on a pullback
So at current prices selling every house would be $25 Trillion. That only leaves 10 to go to pay the national debt.
Every crash/collapse brings with it an equivalent market chance if you are early informed and equipped, I've seen folks amass up to $1m amid economy crisis, and even pull it off easily in favorable conditions. Unequivocally, the collapse is getting somebody somewhere rich
Transfer of wealth usually occur during inflation and market crash at times like this. So for me,this is time for aggressive investment. The more stocks drop, the more I buy. I'm just focused on making better investments and earning more as recession fear increases.
Full employment is listed as 5 to 6 % Buy now when the suckers are sellers
Purchase protective puts for your stocks
0:47 Love the intentionally cutting off the year to make it difficult to determine that it's still incredibly low by the last 25+ years.
Nick, remember sellers don’t want to cut prices 20% because they have to turn around and buy.
2:18 Not inflation adjusted. Just keep spinning a misleading narrative.
I just found an example of "the" house I want. It's on the edge of a pristine lake and is currently on the market for $1.8 million. In 2019 it was only $544k. I think the bottom of this next crash is going to shave at least 7 or $800k off the price. I wouldn't be surprised if it ends up significantly less than even that. We shall see what happens.
I can't believe what's happening to the market! It's been on a rollercoaster for weeks now.
JUST TWO WEEKS
TWO MORE WWWEEEEKKKKSS
All talk to get you sign up to his app
Wtf, headed for a recession?
No bud, we've been in one for 3 years already. Just because the government changes the definition, doesn't make it any less true.
They changed the definition of recession back in 2021, to lie to the American people and prop up BJ and democrats.
That's some 🇨🇳 level double speak and communism.
Fact is our leaders are destroying our nation to enrich themselfs. An we the people are letting them do it.
Wake the fuck up!
What will you tell your children when they ask you "why did you let this happen".
Hold them accountable!
There's ample evidence to charge most high ranking members of government with sedition and treason.
It's time to stop talking people.
Our leaders are not made of finer clay.
nothing out of the ordinary is happening. is everything supposed to go up all the time? Billionaires use the stock market as an ATM, they just needed cash. The entire economy is ran by computers, they have it all figured out, it's a big money machine for them, and a very risky casino for everyone else. There is no "crash" anymore. An actual market crash would be good for us, because then prices would fall back to what they are supposed to be, but that wont happen. Nothing is going to happen in 2 weeks that didnt happen 2 weeks ago. Things just slowly get worse, that's the truth and everyone wants to be right about "THE MARKET CRASHING!" or "DEPRESSION INCOMING", and it's just not happening. other than little ups and downs, it's already rigged by the fed. Nothing will happen in 2 weeks, 2 months, or 2 years from now out of the ordinary. Things will just be mildly worse than they are now, that's it.
I lost 45k in one day should I sell it all stock or wait?
Btc -7% in minutes lol
Good observation about record amount of home equity. Leaves a lot of room for many sellers to take a large price cut but still come away with a profit.
I recognize the hardships that come with economic struggles like unemployment, job loss, inflation, housing market instability, political uncertainties, and the global impact of conflicts and wars. Making ends meet during such times can be incredibly challenging. To navigate this difficult period, considering alternative job prospects, enhancing skills through online courses, and expanding your network can heighten the chances of securing employment. Moreover, prudent budgeting, exploring available financial aid programs, and seeking assistance from community organizations can offer some relief. How are you currently tackling these challenges? Have you implemented any specific strategies to cope?
So you just copy Michael Bordenero almost verbatim. .just copycat the original, obviously.
How do you feel about that?
Don't worry, folks. The media tells us it's the best economy ever.
I am been hearing this for several years
The Fed did not reduce interest rates this past week. And now at the September meeting, if they have to do 50 basis points, that sends more signals that we are in trouble. But Jay Powell in his commentary said he sees this as a normalization.
It is very clear that China has been stealing jobs from us and the only person who could overturn this is former President Donald Trump.
The conclusion is important: You have to research your zip code, not all areas are overvalued. For example, Austin, TX is overvalued but their suburb Round Rock, TX is stable, meaning price corrections are already in place.
Also it's possible these job losses are due to fiscal tightening (and hence high interest rates) that we are currently under. In September when the Feds (presumingly) cuts the rate by 50 basis points (which equates to 0.5% reduction in interest rate) then that will offer minor boost/support to the economy. Let me know if you agree and keeping fingers crossed!
If we do enter a major recession, I think long play investors will look for a buying opportunity if they see home prices reach a certain low point. Those wealthy corporations, individuals, and foreign interests may look for an opportunity to acquire real estate. And that could keep a floor on housing prices.
It's not sustainable that companies can continue to pay employees a 6 figure salary year after year just so that people can afford to buy and stay in their homes. It's just not sustainable especially when each time the minimum wages increase so does employers have to increase everyone else's salaries with a COLA, so to prices adjust upward in the form of higher rents, higher costs for consumer goods and services, food and gas price increases, higher insurance costs, transportation, etc. So, companies are now facing that they need to cut staff in order to cut costs, and if the business survives with fewer workers eventually the companies will rehire but most likely at lower starting salaries for all the unemployed job seekers who will be willing to take a big pay cut just to get a job.
I'm here in Bergen County, NJ, a super hot market, but I'm starting to see cracks.