I completely agree with you! My first 100k took a long time and wasn't that special to be honest with you. Once I hit 300K that is the game changer in my opinion. At this point my money is basically making me a pretty good yearly salary. When I go to sleep at night I know my money is making decent money with the help of my FA.

Nice. People often underestimate financial advisors' importance. Over 50 years of data reveal that those who work with advisors typically earn more than those who go it alone. I've been fortunate to work with one for 13 years, resulting in a $1 million portfolio, largely from early investments in AI and other growth stocks.

I've been considering but haven't been proactive. Can you recommend your advisor? Could really use some assistance.

Angela Lynn Schilling is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.

I looked up her name online and found her page. I emailed and made an appointment to talk with her. Thanks for the tip.

as most investing-related questions, the answer is, it depends.. my best suggestion is to consider advisory management

Agreed the role of advisors can only be overlooked, but not denied. I remember in early 2020, during covid-outbreak, my portfolio worth around $300k took a slight fall, apparently due to the pandemic crash, at once I consulted an advisor in order to avoid panic-selling. As of today, my account has yielded big fat yields, and leverages on 7-figure, only cos I delegate my excesses right.

this is huge! mind if I look up the advisr that guides you please? only invest in my 401k through my employer for now, but enthused about diversifying my investments for a prosperous financial future

Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’COLLEEN ROSE MCCAFFERY” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.

Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.

Guys technically according to these graphs the economy is fine stop looking at the gas prices and food prices the economy is great for everyone except the common man

For the most part it is right now, but things almost always end up reverting to the mean. It could be many years until that happens, but it should become possible again to afford a first time home purchase at some point in the future.

Start a home building business. You could make enough to build your own. My friend started a roofing company and now owns 3 homes in the last 2 years....

When was it ever in reach? Even after the crash in 2008-2009 a newly graduated software engineer earned about $69K in San Diego, CA while a home in Mira Mesa (a medium-end suburb in San Diego) is about $400K. That is ~5.8X his yearly salary more than double the 2.5X that Benjamin Graham recommends. The data shows that housing has been out of reach for almost 30 years, so it looks more to you having recency bias.

@@arcadion448 California housing is 'special', so its hard to compare it to the rest of the country. In 2010 there was tons of affordable houses out there in the rest of the US, if you had saved all your pennies in the good times. We will probably never get that lucky again, since the cost to build is soaring so high that it sets a floor under every home, unless we lose a LOT of population, or you want to live in Detroit, where there is plenty of houses, if you don't need the electrical wiring...

@@sprinkle61 - again, recency bias. The same thing happened in Boise, ID as well. So it's not a "special" case for CA. For the same timeframe (2008), housing in Boise was $209K for a starting engineering salary between $40-$59K. Still above 2.5X recommended by Graham.

45% of Americans do not invest in the stock market because of lack of guidance. Every year you don't invest, you are falling behind. I’m hitting numbers in the stock market I used to dream of… Going from $50k to $600k in my portfolio is surreal all thanks to insights from my financial advisor.

Do you mind sharing info on the expert who assisted you?

Well, I chose Kristin Amber Landis as my advisor after her interview on CNBC In 2020. She is SEC regulated with offices in the US and quite frankly a genius with portfolio diversification. You should look her up

Wow, her track record looks really good from what I found online. I'll take a chance and see how it goes. Thanks for the info

Bullshit. Take your bot crap elsewhere.

exactly, corporate profits rose due to Covid so it's possible that the average person feels angry about that, hence the negative survey results

If people are still buying the product, than the price WAS too low, and needs to be higher. When the government prints trillions of new dollars, it becomes necessary for everyone to raise their prices, including you and me, until they 'discover' the new correct price, because the old prices don't work anymore. This is the world of unstable prices. The Fed could fix this by selling all their government bonds off their balance sheet, but they won't, because they like the power to print money from nothing.

@@sprinkle61 you realize people are buying those products because they don't have a choice right? There are no replacements for milk, eggs, cheese and other dairy products even if they increase in value. Meat as well.

​@@jamimurrahman9159 It's weird how they only discovered they could raise prices on milk in 2020. You would think they would've tried it like 25000 years ago when milk was first invented.

Companies also have cost inflation. Look up the producer price index (PPI), it's basically inflation that companies have to pay for materials, and it also had high inflation, just like CPI (consumer price index), which you probably know as (your) inflation.

I was advised to diversify my portfolio among several assets such as stocks and bonds since this can protect my inherited portfolio of about $2.5m. I'm used to just buying and holding assets which doesn't seem applicable to the current rollercoaster market plus inflation is catching up with my portfolio. I'm really worried about survival after retirement.

True, I mostly just buy and hold stocks, but my portfolio has been mostly in the red for quite awhile now. Unfortunately to be able to make good gains, you'll need to be consistent and restructure your portfolio frequently.

In my opinion, it was much easier investing back in the 60s but it's a lot trickier now, those making consistent profit in these times are professionals reason I've been using an advisor for the past 5 years to consistently build my portfolio in preparations for retirement.

My partner's been considering going the same route, could you share more info please on the advisor that guides you?

Communicate with Nathan Travis Cook

Not really that great for stock holders. The market was in the crapper for a while, and recently recovered again. Regardless, though I benefit from both the housing and stock market movements, it's incredibly worrisome for my kids who will likely be even more priced out of home ownership and retirement than the young adults today. This means I'll have to triple down on all investments just to give them equal footing with what I had which is already way less than my parents had.

So quite being a loser and get a modest house and some stocks. What are you, 21?

​@TehFlush what? Corona was the all time definition of dollar cost averaging event and now records being broken in the s&p

@@james-wx6jh records are broken in the S&P regularly, every other year, and will continue to do so. It's not novelty

@@TehFlushWhat are you talking about we’re hitting all time records for the S&P and the Dow. I’m up huge for my net worth because of that.

THIS.

Absolutely

But still better than not raising wages at all. The point of the video isn't that the economy isn't bad, it's that it's not as bad as public opinion would indicate.

@@sleepysteev2735 It is better if I give you one cent than not giving you anything at all. The point the video misses is that this stuff just compounds on long term issues, and it is disingenuous to just show the short term and acting as if everything is fixed because of it.

Insane, I usually like their show but this one they must have been on something. I make way less than my parents when you adjust for inflation. Even though they only had high school education. Parents in the 80s and 90s also had insane benefits. Their companies paid 100% health insurance, high bonus structures, life insurance (I have never had this), company cars, and work cellphones. They had very few layoffs and were able to buy second properties very easily. Wage stagnation has ended all of this.

It’s not that you’re the only one suffering, but that things aren’t as bad as they could potentially be, ya know?

@@moistfist1054 Except things ARE fucking bad, and this feels more like a house of cards that is going to collapse.

I'm so sorry you're struggling but this comment killed me

If you don’t have a job, looking for one now at 3% unemployment is way better than looking for a job at 9% unemployment.

Its not just you, its on average fine, but a lot of people got hella wealthier, and a lot of people didn't really make it out OK, but the average is not in a recession, so that's good, right ?

well they’re not just some youtubers they’re certified financial planners with accounting degrees and backgrounds in economics. so…

They aren't saying no one is struggling, just that the data isn't showing more people are struggling...

I feel like there are more and more economical words. Swagflation, rizzflation, gaslightflation. Mixing new words with flation. 😅

KZfaqflation 😂

Flationflation

Me too

A lot of fighting on here….

I watched this on my tv, and had to go straight to my phone for the comments lmao!

What about shrinkflation, upside down housing and auto market, high interest loan rates, increased insurance rates, etc, etc. etc……. Im sure some of this was not factored in. I’m calling BS here

Best commemt so far

Damn, if only any economist in the country had considered that.

For real!

Yes. That's why all the other indicators which are also positive are a good measure that things are going well. Did you ignore the video?

@@SnackMuay the economist who invented GDP never intended it to be used as a health indicator, he specifically warned against that

How about real wages?

they literally said it in the video the us housing market is the worst part of the economy, other than that the cpi growth is lower than wage growth but housing price growth is higher than wage growth

Funny way to say "CPI doesnt mesure the most important pruchase and often times largest purchase people will make because we catagorize it as an investment and not a recurring cost" ​@Ryanisthere

@@randodejambo2921 It's not housing, it's the things we pay for every day, such as food, utilities, transportation, and such.

I'm so glad someone said this, especially to contradict 2:04, I wish I could reason with my parents who scream at me to follow the American Dream I'm sorry that you have to choose between each necessity.

@@kittyonmydesk5532 People wonder why the lower and middle class dont get an education to get higher paying jobs, its because even if I could afford to go to school, if I miss a paycheck, Im homeless. Risks are only for those who can afford it.

*moot

And yet more Americans own their homes today than in 1955. It is expectations that have changed.

Everything else is also wrong for the most part. They talk about how people is misinformed but they rely on cooked numbers to make their points.

@@musiqueacoustique1 There are no uncooked numbers. If you are going to make that claim, which number is cooked? how is it cooked? what is the number we should be looking to instead?

@@General8675 Ok, I’m interested in a civil discussion and learning if you have compelling arguments. I can agree with the statement that all numbers are cooked somehow. I guess what I meant is: the picture they are showing by cherry picking data is very divergent from reality. Let’s take what they say about wages vs inflation. The current methodology to measure inflation allows for substitutions which is one of the ways to cover up the loss of purchasing power: people can’t afford a product so they substitute that with something of lesser quality and somehow this means they can afford the first product. It is estimated that with 1980’s methodology inflation is at least double of what the BLS reports. Another related issue is that unemployment is measure by people that aren’t working but are available and looking for work, which leaves out of the data: underemployed people and discouraged workers. Another thing is many people have to take multiple jobs to make ends meet. This not only speaks of the quality of the jobs but it goes back to inflation and wages. In the video is also mentioned that consumer spending continues to be robust and it is hinted that somehow this contradicts the perception of a poor economy. They also fail to point out that a big chunk of the spending that drives the US economy is debt being acquired by individuals and government. The stimulus checks and savings are now depleted for the most part and people are taking debt to buy groceries, I’m sure you know the numbers on credit card debt not to mention those of government debt. The video tries to make the case that the economy is actually not bad, which I find is disingenuous; and worse, they try to tell the audience that for the most part is a matter of perception: is a bias. This is some next level gaslighting since people are living everyday in the economy and can feel the economic stress. Also, young people have older (recent) generations as a reference and they know for a fact that they don’t have it as easy. Hope to hear from you.

The two markets are correlated, so if one is high, the other usually is too.

Well I would say it is not the main topic of the video, it probably requires an entire separate video to talk about housing in the US.

rent prices are okay unless you're living in the most expensive cities like NYC or LA. move out of those place or live with a room mate.

@@gamelord12 They are correlated in the long term but the stock market is usually ahead of real estate . That happens because when there are big stock market gains and people feel the market is reaching bubble levels, they jump to real estate to protect gains.

@@segredosdotiosam9989 By "the two markets", I meant buying and renting. Because if one of them becomes way cheaper than the other, then people recognize how much cheaper it is to buy vs. rent or rent vs. buy, and then they even out again.

And its kinda a large percentage of the average life, its hard to fill the housing void with plastic junk from China and high fructose corn syrup, which are actually going up less than inflation... Ummm, yay ?

Housing is out of reach at these prices. It needs to drop about 50% to be reasonable, and it's better if house prices drop then if interest rates drop. You don't want property taxes and insurance to be at these house price levels.

Same

They are a joke

They’re owned by the government… so yeah

You guys are just poor and losers

One day we likely won’t even have the comments section. They’ll cite it as misinformation or hate speech. But for now for real information, data and humor go to the comments section, you’ll never be disappointed.

They literally spent half the video talking about this.

@@pizzaguy552No they didn't. They started saying the economy wasn't that bad with the exception of housing but they didn't include other things. Then they kind of sprinkled in a few "oH tHe coUntrY iS poLaRiZeD" excuse and "lOok aT tHe sTaTs". There's a reason the majority of people commenting are complaining about this video.

So many tech workers have faced layoffs, I know people that have been out of work for 12 months. Apparently I need to be smoking the out of touch reefer, pass me your happy pills Two cents people.

I love 2 cents but they have PBS partisan hack tendencies, everything the Dems do is great and everything Trump does is bad.

It's not bad to them because they compared with covid and great recession. If compared with 80s and 90 It's definitely bad

Yeah, it's all fake. I hate all the gaslighting about how the economy is "great". It's all manipulation and fakery.

Yeah and you can only be counted as unemployed for so long, if your chronically unemployed they no longer count you.

Consumer spending included groceries and other necessities. It looks like people are spending more mainly because they’re charging more for same things

Like Bezos said if a model and your experience and my peoples experience is different, it is usually the model that is wrong

Dude where have you lived? There have always been homelessness and tent cities. You just weren't aware of it because the Internet didn't exist.

Just because Fox News is talking about it more... doesn't mean it hasn't been that way for the last +10 years.

​@@WhooshtaIt's not as dramatic, but homeless is in fact going up after 10 years of reductions (just 15% reduction), if you fell in a hole and climb back up, of course it doesn't feel like progress.

Spot on!!! Exactly. I’m calling BS on this video. They are out of touch with reality

wage here went from 10 to 15$. A 50% bump. A Big Mac here 5yr ago was a little less than 1/2 of a 1hr wage. Now…it went up in price $6.79…..which is a little less than 1/2 of a 1hr wage.

Great comment

Deciding that your reality is how everything works is exactly the point of the video. I do not know what size of 1/2" plywood sheet you are talking about, but a 5 second google search shows 4 ft x 8 ft sheet at $26.45, not $64. What kind of hamburger were you buying? Where I am, which is Princeton by the way where prices are expected to be out of control, WalMart wants $5.47/lb. for 80% lean, not $9.99. I don't think prices were cut in half since the 9 hours ago you posted. Your reality is not the aggregate reality.

@@jasongallagher631 so the prices doubled, they just didn't quadruple? Lol

how come? which information is incorrect?

Really? I feel like you're just salty cause they are spitting facts. Republicans don't like hearing the truth when it conflicts with the false narrative they want to shove down people's throats in order to try and get their criminal cult leader back in the power.

@@lostintashkentthey are using a strawman argument to explain the potential logical fallacies people are using to think that the economy is in trouble. But, the economy IS in serious trouble. I really want to to talk these two and see what they’re actual knowledge of economics is. I doubt they could hold a candle to anyone that actual studies markets with a sort of frequency.

THIS^ I love 2 cents, but they really missed the mark on this.

Those people only feel like their homeless, it’s a vibe. As well as those that insist they’re starving when in fact they had some food fairly recently. Just tell them that they live in a nice cozy home and are full from eating a nice huge meal.

This must be sorcery cause people are living in very uncomfortable times🧐🧐🧐

Drug addiction

Thats nothing. The US government has nearly $36 trillion in debt, and they expect you and I to pay it back.

Credibility plummeting with this episode. Their research was garbage

This video is misleading

If you learn about the federal reserve and austrian economics, you'll in fact see that they've put out quite a bit of bad information. I've been following them for a couple years, and while they have some good tips here and there, I'm afraid to say I see them as propaganda for the gov't. They are affiliated with PBS after all.

So true this one was the worst. Did they forget about wage stagnation and what about tech workers. I know people who have been out of work for 12 months!

Two Cents: Who are you going to believe? Us or your lying eyes?

I know so many people out of work in tech it isn't even funny.

Sorry you are on experiencing hard times, I hope you are able to turn things around. But "I'm not doing well personally, therefore the entire economy sucks" is not solid logic.

Nice car

@@PelosiStockPortfolio What about when tens of millions of other citizens are feeling the exact same thing?

They're just gaslighting the average person. The economy is doing great for people at or near the top, but not for anyone else.

The CPI includes housing cost.

@ TheOriginalDanEdwards Rent portion is included. The rest is considered an asset. The “fair” rent of a house in a good school district maybe $4,000 and remain the same. Then its contribution to inflation is zero. The house prices may go up %30 but that won’t affect inflation. So if nobody is renting out their houses and you want to live there, you deal with out-of-reach housing price.

Everyone always wants to claim the inflation numbers are fake. I mean there are a lot of different ways to measure inflation and there are reasons why it's measured this way or that way or why one takes precedent over another. The numbers also vary by what state you live in, even what part of the state you live in. Your own lifestyle. What YOU personally consume. We all have our own individual inflation metric that is separate from the national one. Some guy commuting 30 miles to work in a Ford F250 is going to feel a lot more pain than someone who works from home driving a fuel efficient car and only gasses up once a month. Someone that goes out to eat and drink a lot will feel inflation more than someone who cooks at home and eats oatmeal for breakfast every day.

@@TheDanEdwards yeah but how much weight is given to housing cost for the cpi calculation. Is the expectation that it is 30 percent when people are spending 50 percent. It’s been a topic of debate amongst economists for a reason. CPI is not a perfect measurement. It’s why we should be critical of any of these studies that suggest the economy is doing fine. It’s why there are arguments against using gdp as a measurement as well. If I measure a frogs ability by how fast it can run did I truly measure accurately. It’s simply a human framework to try to understand the world

@@rexx9496not fake but it’s the difference between average and median income. It can obscure what you are trying to measure. How else do you explain the elephant chart

There is no economy there there are not poor. But there is less poverty today than in the Great Recession.

And that’s just looking at it non-cynically. There are some who would say that companies purposefully put out the idea that the economy is bad so they don’t have to compensate people more and the general public doesn’t become aware of any price gouging. This can happen politically as well as other people have pointed out. But I still think the fundamental misunderstanding of the economy is the root of most of it.

That was covered in the video where wage growth beat inflation and was strongest for those im the bottom 50% of earners

EXACTLY right.

Republicans trying to scare dumb people into voting for Trump.

Take out prices has doubled mate. Not 20% - that's BS numbers.

Also, unemployment isn’t an indicator of an unhealthy economy. Working two or more jobs is much more of a helpful indicator.

So true, they need to delete this one. Wage Stagnation and Tech layoffs. Two cents missed so many economic factors.

Out of everything at the grocery store, this has perhaps been the most shocking. Which makes no sense. Water and sugar are the ingredients and they haven't gone up much. That leaves aluminum and shipping costs as the main other factor. That doesn't account for the ridiculous increase.

Yeah I noticed this too. That and price of rent in my area skyrocketed in the past 7 years

A 12 pack of coke cost as much today as a 12 pack of beer did back in 2014.

Isn’t soda indirectly subsidize, so their price wouldn’t really be affected.

The Federal Reserve tracks this. A can of 12 ounce soda was 33.2 cents in January 2019 while today it’s 59.7 cents.

Underrated comment. Two Cents really dropped the ball on this one

Right on point. Also, the video doesn't even mention the rising credit card debt but somehow tells that everyone spending money on new furniture is A-OK.. What about the US debt? Its more than $34Trillion now. Isn't this cherry-picking data points to prove a point? lol.

​​@gulammohiddin5747 right on!

Gaslighting at its finest. Another real issue is that there are SO MANY signs we are on the verge of a recession that this may just be a 'calm before the storm' moment, so doing the victory lap right now may be VERY early. I'm already planning my return to this video for my 'told you so' post, when this economy goes into a full recession, in the next 6 months.

​@@noahrentsch5062Well, if you torture the numbers enough, they will confess anything.

I take issue with 'wages have kept up with inflation'. Last spring inflation was 10% where I live and my raise was 2.5% I have steadily lost ground to inflation and will probably do so this year as well. I'm planning on switching jobs, but the layoffs in tech are making this tough. Definitely a bad economy for me, and it galls me to have the media try to suggest everything's 'fine'.

This. 100%.

And what's ironic is it hasn't even been that long 😂💀

Lol

Milk was a bad choice.

You don't like them because they tell the truth. Go back to your Faux News echo chamber to hear what you want to hear.

Let's say you were making 3000 a month after taxes and paying 1000 a month on rent + utilities + food. That would mean you had a surplus of 2k a month for savings, retirement, health insurance, etc. Making twice as much and paying 3 times as much means now you'd be making 6000 a month after taxes and paying 3000 a month in rent + utilities + food. Which is a surplus of 3k a month. Going from an extra 2k to an extra 3k each month is generally a positive, yes.

@@Snooder The problem is that 15 years ago a house cost like $200K and you earned maybe $20 an hour. But nowadays you might be earning $35 an hour but that same house cost $1M. What you are arguing about is just a strawman, because even though your math is right your numbers are wrong.

By math definitions, it can be positive, depending on your ratios. Stay in school, kids!

@@potapotapotapotapotapota The problem is that a) you made up housing numbers off the top of your head, and b) you've said nothing about where this "house" is located. I'm certain there are in demand areas where house prices have risen 5x over 15 years, but it's not here. My house (which is not indicative of all houses, but is in an expensive area) sold for $197k in 1995. Zillow estimates it today at $591k, most of which is post-pandemic increase. So that's about 3x growth in almost 30 years, not the numbers you made up. We also got very lucky to buy before the pandemic, when the price was just $320k in 2017. So that's less than 2x for that 20-year period. It's not great, but before you accuse people of a strawman argument you need to provide actual data. We can go ahead and run the numbers on a few more houses, but I have suspicions that you may be thinking of only a few limited areas where there is a 5x home price increase.

⁠@@potapotapotapotapotapotathanks - i never knew math could be right but numbers could be wrong . your comment kind of sums up the video- hey this math doesn’t fit my narrative

Exactly, people are fighting hard to see the economy as just about stability and profits, but cost of living, ability to save etc all are considered inconsequential. You end up with people who feel the need to talk down to those living in newfound poverty, because of when the economy tanked previously, and insist they need to stop calling it an issue with the economy "because it's good now". If someone had a problem of some sort, that wasn't there 24/7, but when it arises they come over and punch you and take your money, you're not going to say that person is A-Ok even when they're not in the middle of what caused them to do that to you. After people became anywhere from more impoverished, newly impoverished, poor, dealt with costs they never had to deeply worry about etc, they are not going to sit back and say there's nothing wrong with this when it was caused initially by a tanking of the economy. The people constantly whinging about it's semantics reek of the kind of people who would hear someone recounting their suffering and would interrupt them while scoffing to correct a grammatical mistake.

Increased savings rates could be seen as a sign of a bad economy. Often the only thing that gets people to save is fear. Which is why 2008 and 2009 were higher than 2007, and 2020 was the highest on record due to Covid.

GDP and pretty much all of the other relevant metrics are adjusted for inflation. They take into account the increase in costs so that we can fairly compare between time periods.

Savings rates skyrocketed during the pandemic when we had the stimulus money and nobody could do anything. If I remember right I think they were around 8%. Now they’ve gone way down. I believe they are slightly below average now.

@@cody5596 Savings rate is lower than it was in 2006-2008. People are spending down any excess money they had and building up debt on credit cards and BNPL schemes.

Who is they?

​@ChristopherCurtis It's generally going to be people who in terms of wealth are around top 5% or more, think billionaires and some millionares, but you've also got a lot of people who are convinced they're just a billionaire waiting to happen, then they sometimes also fight tooth and nail to ensure the same major divides in ability to live between upper and lower classes.

@@ChristopherCurtisdon’t play dumb we all know it’s the mega corporations and bureaucrats

52% of millennials (ages 27 to 42) own homes. But they tend to buy at higher rates in Midwest cities than on the coasts. In fact, they're buying homes at a faster rate than other generations and thus closing the ownership gap.

@@ChristopherCurtishe mentioned it in the first sentence, established people

Same here on doing well, I'm doing fantastic. But the reason why I think the economy is bad is because, had I graduated college today, I would not have been able to afford the lifestyle that I currently have having graduated in 2015. Incomes have not increased even remotely in line with goods and services, let alone with housing

On number 3, important to keep in mind this isn't just a US problem, it's an everywhere problem. People in England, Australia, Portugal, Hong Kong, Stockholm, Mexico City, Vancouver, Toronto etc etc are all complaining about the cost of housing being too damn high. And even in poor countries where housing looks cheap to Westerners, it's still expensive to locals. Whatever this is, it seems to be a worldwide phenomenon. Since America is a capitalist country, we don't task the government with providing housing or getting much involved in the housing market beyond public housing projects for the poor. In some places like Vienna, they have pretty reasonable rents because the government provides public subsidized housing for even the middle class. But I imagine if Biden tried to implement such a thing in the US the GOP would be screaming about "socialism".

@@rexx9496 Here's the problem with your assessment: In the USA, rental companies use an "index" of what rents are to "set the rent" for rental units. This has been proven to be a scam in multiple court cases but they just change the URL of the index and keep on rolling with it. I've even personally given the rental company I'm under a legitimate assessment showing that the average citizen in my area is spending over 50% of their income just on housing here and what'd they do? raised everyone's rent. Because of the index. I'm about to have to start giving food to my neighbors because of this insanity and if the local government doesn't step in I'm about to have the state government step in.

4. All the leading economic indicators are flashing negative, the yield curve has been deeply inverted for a year, and the Fed has signaled its intent to cut rates. All of these things tend to lead to a recession, so perhaps we are at the inception of the bad times, and it just hasn't 100 % happened just yet, but we are FAR from out of the woods.

I agree with these, but i'd add one more. 4) How people feel about things depends on their frame of reference. Right before the pandemic, the economy was good and real wages increased. That's what people are comparing it to. Then inflation crashed real wages, and since then real wages have slowly gone back to where they were. When people say that the economy is bad, they're comparing the period before inflation crashed real wages and the housing crisis kicked off to the period after inflation crashed real wages and the housing crisis kicked off. There are parts of the video where 2 Cents compares post 2019 to pre 2019, or post 2023 to pre 2023. However, that's not the comparison people are making in their heads when they're asked how the economy is doing. I would add one more thing about 3). The housing crisis has been financially good to a lot of people. Most households own their own home. Those households have seen their home values skyrocket. They were also able to lock in a very low interest rate, and then their monthly mortgage payment was devalued thru inflation on top of that. The housing crisis has probably been very good for the median household. However, for renters, people who want to buy a home, and people who bought after the price and interest rate increases, the experience has been very different. The average person looks at the housing crisis and sees it as a bad thing (even if they personally benefited from it) because they're looking at how it hurt people who don't own houses. Meanwhile, 2 Cents is looking at the housing crisis like, "Median household wealth has grown. Why are people being so negative?"

The current economy NEEDS suckers mindlessly consuming and getting into debt to by unnecessary stuff, so financially literate people can piggy bank on their backs. If everyone was frugal the economy would collapse. The banks wouldn't offer credits cards of they didn't get a sh*t ton of money in interests.

Next week: "Death - it's not so bad."

​@@karnubawax Herpes? Not so bad. 90% of Americans have the virus.

This is the magic here. Those that switch avery 18-24 months can double their income in 5 years vs. those that stay during the same period.

In 2007, everything looked great, until it suddenly all fell apart. Now is no different. Economic indicators are all negative, inverted yield curve, rates about to be cut, all of this was going on in 2007. The thing is, we are in the calm before the storm, but the storm is almost here. You can't call this economy a success, until the Fed sells the 8 trillion of bonds they have bought in the aftermath of 2007, and I have a feeling we will be in the next depression, long before all those bonds could be sold on the open market, and selling them would also drive rates sky high, as the government actually needed to get all that money from the public, and not printed from thin air.

Straight Facts. Nobody with my employer has gotten a raise worth running home about in the last 5 years. Still, my rent is increasing 100 bucks a month every year. Sureeeeeee

Yes. The only reason this video exists is because Biden is low in the polls.

​@@karnubawaxyou can believe that if you like. I'm British but even if I was American I wouldn't vote for Biden, but I agree that US economic sentiment is far worse than the actual economy.

@@eldrago19 If you lived here you perception would very quickly change.

Personal experience is not overall experience

Haha, PBS is obviously not a tech job. Layoffs.fyi tells a different story!!!

The only thing that went up is interest rates. Everything else is pretty much the same

@@robbiedontmissyou obviously don't visit the super market, or buy auto parts, or put fuel in a car, or pay rent.

@@robbiedontmiss You are oblivious. Same sandwich from a local Italian place: in 2019 it was $9 dollars. Today the same sandwich is $14. There is a reason for that.

Also, a big shock of a past year loss isn't fixed by a little real wage increase this year, either. If you lost 5 % real wages in 2022, then you gained 0.25 % over inflation in 2023, its kind of hard to disassociate the two years, and acknowledge the itty bitty, teeny tiny real improvement last year, even though things DID get better in real terms, because from an overall perspective, you are still down 4.75 % real over the last 2 years.

I dont know in the US but in Spain the numbers are saying the same, that the crime has gone down but there is a catch, and that's the point. The number of crimes has been down but because they mix the "big crimes" with the "small crimes", and in total the number went down. But if you just see the "small crimes", this number went up not down.

Or that the economists are just wrong with their data. The basket of goods that matter for how people feel aren't if TVs, computers, and yachts are cheaper. People care about housing, food, and energy. Those 3 things are still higher than incomes can support. I would bet money that if you compared wages in real terms against just a basket of those 3 things that real wages would be way down in every quintille except the very bottom and very top.

@@rathelmmc3194 Housing is included in inflation. There's lot of different models for calculating this stuff. Core CPI leaves out volatile things like energy. But Core CPI isn't the only thing economists look at. Keep in mind also the majority of people own their homes and have seen tremendous growth in their net worth the last decade. So while renters may see this is bummer, they are in the minority and homeowners who have benefited greatly are in the majority, so you have to factor that in when looking at public opinion. Most people are benefiting from the current housing situation because they own, have a locked in low rate and are sitting on mountains of equity. If you don't own(and I don't) yeah it sucks, but we aren't most people.

Crime has reduced because some states have made crime legal 😂

stop eating so much avocado toast

This video is crap hahah

Their numbers are so off, they have no idea despite claiming to be economists. They have a much greater responsibility to tell the truth with the authority they claim to have but they have failed miserably with this one.

I'm sure on average we are totally beating inflation. Just take your numbers and average in Bill Gate's 1785 % return last year, and everything will be fine.

Who is getting raises? Factuality speaking, people changing jobs.

What about it? Like genuinely - I think I learned more science through channels with the pbs label than I did through school Like don’t get me wrong, I don’t exactly agree with the video either - I just want to know what your beef with pbs is.

the entire stupid video is deceptive

In a half-assed way.

Anyone that would insinuate the Biden administration or their surrogates would cook the books or lie about statistics and metrics for political gain is a far right meanie poopyhead. Next you’re going to tell me that the Biden administration changed the definition of what a recession is.

What human rights violations have republicans endorsed? Also you said republicans were bad for the environment? Uh the Biden administration has repeatedly said that Nord Stream being destroyed was a good thing. That’s the worst man made catastrophe of all time and the entire world knows the Biden administration committed that terrorist attack.

This video sucks haha. These people are clueless

These two people obviously don't work in tech right about now.

They focused on low income people - they mentioned incomes for this group are growing fast

@@leeroyjenkins3677 They need to measure the timeframe from the 80s till now and not just Covid till now. The benefits and pay my parents and Grandparents had were amazing. One person could work and feed a family of five on a 40 a week job. Now so many people can't afford rent with a Masters level job while their roommates work as well

The 1950s were a post-war economic boom.

They smoked the big reefer on this episode. They forgot all about Tech workers (Layoffs.fyi) and wage stagnation. I know people who have been out of work for 12 months. The economy hasn't been good for them. But hey a drunk janitor recieved an increase in pay. Unbelievable!

@@chrislanejones Just because some industries are contracting does not mean the economy is failing overall. Tech has been over-invested for a long time now. All the major tech companies have been having profitability issues for years and now their line of credit has started to run dry, which means they need to cut costs and lay off workers. I know it sucks, but it's not indicative of the entire market.

It's not just in your case. It's happening with the majority of Americans. If companies raise the price of an item by 50 cents and you are given a 25 cent raise things are not balanced out. And not everyone is guaranteed a raise but everyone is charged the same price for the item.

@@LifeIsGood-qg3xv I have a feeling when they track wage increases. They are just taking the average of everyone in the entire country, including CEOs and people moving from no job to working a job. I bet if you re-searched it out, most middle class people are only getting like a one to 2% raise each year., And that somehow supposed to make up for the year of 9% inflation followed by a couple years in the four or 5% range?

Yes. Republicans screaming about the economy sucking are lying to your face.

Disposable income is higher now than it is pre-pandemic.

@@rexx9496 adjusted for inflation?

You can’t control deflation. The average person is a moron so I think I’d take my chances with higher prices than risk becoming Weimar Germany or Venezuela…

It needs to be addressed, the economy is thriving because of people having to pay more to live. Just because the system is thriving, doesn't mean the system ain't broken.

It hasn't taken a nose dive. False premise.

@@John_Fx source?

@@NN-ix3kuwhere is your source that it took a nose dive?

LOL, speak for yourself.

nope. even other countries are reporting that the American economy is booming. you might be the one that sucks at life

​@@joeisawesome540 ah yes, when you go from the SAME wages being liveable to suddenly being unable to afford cost of living, they just suck too bad 😢😢🤪 Go back to your playpen, your parents should be home soon 😊

@@Tree-House69Well, my wage went up faster than inflation did.. My wage went up 6.5% last year.. inflation was 5%.. Get a better job bud that doesn't suck. go to school or something

@joeisawesome540 oh please, do you even think I'll lower myself enough to live in America?

@@assassinul95 so, you were doing the gaslighting then? since you don't even live here and have no idea what is actually happening? great job bud.

This was the most out of tough video they have done. So many layoffs right now it isn't even funny.

Huh? It DOES show inflation vs wage growth

@@heinaye3594 No, it shows inflation versus average wage. The data from the wage graph would need to be derived to form a wage growth graph.