Comments by "Ace1000ks1975" (@Ace1000ks19751982) on "Rico E" channel.

  1. The economy is great if you are a politician or upper management in any major corporation. For the rest of the people, not so much.
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  2. People who lose their jobs lose their cars first then people max out their credit cards. The last thing that happens is a foreclosure. That's what I call the stages of personal collapse.
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  3. If you saved your money, invested your money, got it out of the equities markets and other investments then you will be fine. If you don't have any debts, and a lot of saving then you will be alright. If you have a lot of debts, a unstable job, and no savings then you are in trouble.
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  4. The Federal government employs about 19.58 million people, and 161.5 million people are currently employed in the US. 12.1% of Americans are employed by the government. It isn't easy to fire government workers, they have protections that most private sectors don't have. Trump and Musk are business people, and bureaucracy isn't run like a business. There are checks and balances, and that is why policies are very difficult to change in the US govt. We don't live in an absolute monarchy where things can happen with an edict. LOL
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  5. Car dealerships should be obsolete by now. People should be able to order their vehicles on a website from the manufacturer. I stopped paying retail prices on Amazon, and now I order stuff directly from the manufacturer. It takes a little longer, but it is a fraction of the price.
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  6. All this price gouging has drained all the money out of the economy. This is why so many companies are going belly up.
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  7. The $20/hour is only for fast food restaurants. It doesn't apply for all businesses. The minimum wage for all other jobs except for fast food workers is $16.78/hour.
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  8. I sell electronics, and I haven't made any sales for the past 2 months. People just don't have the dough to buy anything.
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  9. I remember the 1987 stock market crash, and the recession that followed. During the recession, you had a lot of deflation of assets. After the 2008 crash, we had a lot of deflation of assets as well. Everything crashed, precious metals, real estate, commodities, and other assets crashed in price. With less jobs, more people have less money, less money means people will not be able stuff. When people can't buy stuff, and there is a lot of stuff in the market then prices crash. It's really that simple!
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  10. I noticed Amazon is offering pay later plans. First time I've seen that. Amazon isn't the least expensive place to shop anymore. These days, I shop around, I go to Costco, Walmart, other platforms, or buy directly from the manufacturer. I did all my shopping. I just bought all the big ticket items that I needed for the next 4 years, because things are going to get expensive in the next 4 years. Have a nice Thanksgiving day.
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  11. All these chain pharmacies and pharmacies in general are having issues with insurance companies paying a reasonable reimbursement. Therefore, pharmacies aren't as profitable as before. Their main business is selling prescription meds, not selling all these ancillary products. It's ironic how these corporate chain pharmacies put a lot of small pharmacies, and convenience store out of business. Now, they are going out of business.
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  12. I live in Los Angeles, the rent is about 1700/month for a studio apt, and 3k/month for a 2 bedroom apt. My brother and his wife asked me if they can live with me about a year ago when he lost his job. He is working now, but he works 3 low wage part time jobs now. He was living in a 3 bedroom apartment paying about 3800/month. I live in a 3 bedroom + 2 bath home by myself. I agreed to let them and his family stay for 700/month. I am not married, so I could do this. The people that lost jobs in the past two years had good jobs that paid a decent salary. Those people had either found multiple part time lower paying jobs, they are living off of their savings, or not working. There are jobs in the economy, but many are low wage jobs with no benefits.
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  13. The Fed will lower interest rates; however, it won't go down enough to stop a recession. Even if they did lower interest rates drastically, it takes a few years for that money to have an effect. The Fed keeping interest rates near zero from 2008 to 2022 was the catalyst for all of these bubbles. Higher interest rates is what pricked these assets bubbles. In the end, these bubbles have to pop, and when they pop it will be devastating. The reason why they raised interest rates was to curb inflation. At the same time, when you have a recession you have deflation. Let's see if lowering interest rates over a period of a few years will work or not.
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  14. The job market is tough out there, my brother got laid off last year, and he didn't find a comparable job.
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  15. This is a silent depression. The equities markets keep going up, but the jobs in the real economy are vanishing.
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  16. Amazon has been doing this for years. I noticed this a couple of years ago when I go to Amazon's website logged into my account, and going to Amazon without being logged in. The price was different.
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  17. Not only is the job market cooked, it is difficult to sell anything in this economic environment. I tried to find a job that I lost two years ago, and I couldn't find one. I just found a part time position processing medical records. There are jobs, but most of the jobs are low paying part time jobs. I don't want to live on my savings, so I found a part time job as a dishwasher, and another job working the graveyard shift stocking shelves at a supermarket. The pay is like $16/hour with no benefits. Even with these crappy part time jobs, I am still able to save money, because I have no debts. This is better than doing something like rideshare, or some other type of gig work.
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  18. A flight from Los Angeles to NYC back in 1999 was about $310, so the price of domestic flights haven't gone up much in the past 25 years.
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  19. The stock market went up a lot over the years due to globalization. There is a trend against globalization, so the stock market can go much lower. These are boycotts in China against US brands., these companies had access to the largest market in the world. These companies sold a lot of stuff in the Chinese market, made a lot of a lot of money, and made US stocks go up. Foreigners were buying up US real estate, and making it go up. All that is over, so we may see a much bigger correction. Next year, you are going to see a scenario where prices for essential goods and services go up, and the jobs start to evaporate in the economy. We are going to be headed towards some hard times.
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  20. It is called deflation in the job market and wages. It is possible to have inflation in price of goods, and deflation of wages. It happens and happened a lot in developing countries. As a result, the people in the country cannot afford to buy the goods that are produced in the country, and you have a export oriented economy, instead of a consumer based economy.
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  21. In my local area, I see a lot of vacant real estate space. The main reason for it is due to high real estate costs, which translates to high rental and lease costs.
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  22. When I go to the post office to ship stuff, it's not very busy. That will give you an idea that the economy is very slow. The economy runs like musical chairs.... The people that get loans late in the economic cycle are the ones that get burned. That's why the loans and credit dries up, and a recession happens. I learned a valuable lesson back in 2008, one must always live below their means. It is better to buy a smaller home and have it paid off than buying a bigger home and have a mortgage. It is better to drive a car that costs less than driving a expensive car.
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  23. When interest rates were near zero from 2009 to 2022, every CEO looked like geniuses, because they can keep borrowing money at low rates. With interest rates spiking up from 2022 to the present, it's getting more difficult. Most of this was propped up with borrowing money at very low rates.
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  24. Losing your livelihood in an economy like this is unimaginable. The ordinary person or the working man and woman are all expendable except for the corps owned by the plutocracy.
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  25. Everyone has a smartphone, so everyone can a gig job. They may not be able to find a job for the degree that they earned, but they need to living. There are plenty of opening for low paying part time jobs.
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  26. The name of the game is monopoly. Once you demolish your competition which Wall Street did with small mom and pop businesses, they raise the prices, because people have no choices. In this case, they will control most of the real estate in the US, and jack up the rent. When I was a kid, I loved to play Parker Bro. Monopoly the board game. As I got older and older, I saw a real monopoly game being played out back in the 1980s. In the 1980s, they got everyone who worked an office job to get a 401K, lock your money in there. It all went to Wall Street, Wall Street created corporate chain stores, they drove all the small businesses out of business. No more local pharmacist, we had Savon's, Thrifty's, Walgreens, and CVS. No more small hardware stores, instead we had Ole's, Builders Emporium, Home Depot, etc. They had been doing this with real estate since 2008. Now a family home is an investment asset, not a place where people live and raise families.
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  27. Every time I drive to go anywhere these days, you can see people struggling, you see a lot of hungry and angry people. There are lots of homeless people as well. I try not to go out if I can help it. It's dangerous, and everything is so expensive. I just stay home and stream a movie, order food to be delivered to my home, and try to order everything I can. So many people these days look like 😫😠😈👿😞😣😵☹😭😢
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  28. Japanese investors were borrowing money from the Bank of Japan at 0%, converting it into USD, and they were buying US treasury bonds with it. Japan raised their rates, so the Yen will get stronger as a result. If these Japanese investors get their returns, they will be paid back a lot less. Also, the Fed announced they would lower rates, and this is why Japanese investors are leaving the US markets. LOL
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  29. The price of homes had gone up a lot in the past 53 years. The price of regular 3 bed + 2 bath home went from 20k in 1971 to 490k today. Inflation being the way it was in the past 4 years, it isn't difficult to project that the price of average home can go up 5 to 7 times in the next 10 years. If the price of your home goes from 490k to 2.45 million or 3.43 million, you will be paying a lot of property tax. Imagine your property tax going from 4,900/year to 24,500/year or 34,300/year. When property values go up, your HOI(Homeowner's Insurance) also goes up. This issue will affect everyone in the US in the next decade.
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  30. You need to get a pocket camera, this way no one knows you are filming. When businesses don't put prices up, you know something is fishy.
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  31. For domestic flights, I took American Airlines, Delta Airlines, and Hawaiian Airlines. These airlines aren't the cheapest, but they never cancelled any flights. Plus, they don't charge you extra for carrying bags. You get what you pay for. If the price is cheap, there is always a catch.
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  32. Morality is the fiber that keeps society together, without it you have chaos.
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  33. It is really simple. If you have a large number and compound that debt, it becomes unmanageable. A big number with compounding interest rates is a recipe for trouble.
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  34. I used go to Wendy's back in the 1990s up to the early 2000s. I used to go there, because they had really good prices. I stopped going after I started to make more money and went to better places to eat. Wendy's was a budget oriented fast food restaurant. The food wasn't as good as In-N-Out, but it was better than McDonald's which was in my opinion the worst.
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  35. If you want to save some money, go get a hunting and fishing license. You need to invest in the equipment which will allow you to do that as well. You can save a lot of money on groceries, because the most expensive food item are the meats. I also invested in solar panels and batteries to power my refrigerators and lights around the house. You have to use your money in things that provide some kind of value instead of using it for consumption. Find ways to make money, because you will have to find ways to make an income without a full time job. Learn about e-commerce, and learn how to make stuff. Leverage your skills to make an income.
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  36. The definition of tyranny synonymous with monopoly. Wall Street has its hands in just about everything, and they have enough capital to monopolize any industry.
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  37.  @andrewsnyder9262  It takes a year or two for this QE to go into effect. People are going to feel the pain.
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  38. It isn't AI, it's more like higher interest rates. Investors with lots of money are putting their money into bonds which pay 5% APR. This is why money isn't flowing into tech which is highly speculative. This only worked when interest rates were near zero.
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  39. From my experience doing business, the products that keep the lights on are mid quality items. The very expensive stuff moves slowly, and that isn't what pay the overhead. My business strategy is targeting the middle and lower classes by offering a affordable product. Something that doesn't cost much to produce, something that is easy to produce, and some of decent quality.
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  40. Most people don't want to do hard work, get paid little money, and work long hours. 300 to 400 years ago, no one wants to work in a sugar plantation in the tropics that is why they imported people in chains to do that kind of work. Most people that did that kind of work lived about 4 to 5 years. About 200 years ago in England, you had people working 14 to 15 hours per day working in factories making in grueling conditions. People were working in those horrific conditions in the US in the late 19th century and early 20th century. As a result, you had labor laws so companies couldn't exploit people to the bone. It's all about profit. It is more profitable to pay someone a low wage, and make people work long hours. It hasn't changed.
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  41. These big corporations have access to unlimited amounts of money from mutual funds, 401k funds, and retirement funds. Small businesses don't have access to this kind of capital.
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  42. The good jobs are disappearing, so people will have to work many low paying jobs. This means, the standard of living is going down. I lost my main job about 2 years ago, and I am surviving on 3 low paying part time jobs. One in an office processing medical records, another as a dishwasher at a restaurant, and a 3rd as a waiter.
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  43. Most mericans don't understand numbers, they will just to the dealership and sign it.
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  44. The best thing is not to be predictable. I don't always shop at the same place, I shop at Costco, Walmart, the local supermarket chains, small markets, online supermarkets, Amazon, etc. I always do a price comparison when I shop for groceries. This way, the algorithm gets tricked. The algorithm tries to lure me back to that store by offering better prices then I shop somewhere else. People can outsmart computer algorithms. AI learns by finding patterns, but if you are unpredictable then it will have a very difficult time finding any patterns. Amazon doesn't always have the lowest prices, so I go shop around other websites and I find lower prices. People have gotten lazy trying to shop at one place.
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  45. Job market is saturated. You can use a AI generated resume, but you do have to go back and edit it.
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  46. It's 2008 all over again. They kept this thing rolling with low interest rates for 14 years. If you saved your money, you can find a lot of bargains. If you didn't then, you will miss those opportunities.
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  47.  @AlliandRico  You know salaries and wages don't go up as fast inflation.
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  48. A few days ago, I went shopping for groceries, and I saw a lot of shoplifting. People putting an item in their cart, and putting another item in their purse or jacket. Buy one and take one without paying for it. I don't think a lot of people feel shame in doing lawless things like this.
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  49. It's really simple. If you have more debts than income then you are broke. On top of that, if your wage goes down, or if you lose your livelihood then you will be sleeping on the sidewalk in a tent. That's reality.
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  50. Cutting govt positions will not be easy especially when it comes to intelligence agencies or law enforcement agencies. This would be like the emperor of Rome trying to get rid of the praetorian guard. When they tried to do that, mysterious things happened to the head of state.
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