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