Latest / Money Grows on Trees / #232 - Why So Many People Are Struggling Right Now (It’s Not What You Think)

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#232 - Why So Many People Are Struggling Right Now (It’s Not What You Think) · Money Grows on Trees

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  If you're 40 with no savings, then this
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  is your wake-up call. No, you're not lazy. The system
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  is just working against you. I know it's blaming the system, but on
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  this occasion, I think we could be right with the system. It's
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  failing you. Depending where you live, it's failing you. If you live in the United States, it
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  seems to be failing people there, failing people in the UK, in Europe, and it's certainly failing
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  people in Australia. How do I know that? Because I live here and I can see it
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  day by day how it is actually affecting every single person,
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  not just the middle class or the lower end,
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  but it's also affecting people who up until recently thought
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  they were doing pretty well. In fact, a friend of mine just
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  said that his friend who's working for a large consulting company
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  is now at a position where he's actually thinking about taking a second job. It's
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  not just regular people, it's people who
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  have got great careers who are now realizing that the cost of living
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  is now starting to bite into their lifestyle. Just
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  recently, I saw an article that said that millions of people are working two jobs,
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  not just to get ahead, but actually just to survive. to
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  survive. Why that's happening is because particularly
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  in Australia where I live, there are more people being immigrated here
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  than we can possibly cater for in terms of the infrastructure,
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  in terms of jobs, in terms of real estate and land.
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  It's causing the price of everything to go up, a lot of inflation happening.
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  Because we're not so effective here with our energy strategies, in terms of
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  our nuclear power or our coal power or We're moving
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  too green too quickly where a lot of our power is going up
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  and that pushed the price of everything up and it caused a lot of inflation. And
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  so that's why you're finding it's $15 for a beer at the local pub. And
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  just recently I read that in Australia we've actually brought in,
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  in the last few years, the same number of people as the entire city
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  of Adelaide. If it feels like there's more competition for
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  things, it's because there is. Here's some brutal realities
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  that are happening certainly in Australia but you could possibly say in the UK and
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  in parts of Europe as well. Most people at
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  about 40 have less than $10,000 in savings. In fact, I read
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  a really brutal article just the other day
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  that 25% of people living in the United States are
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  using Buy Now, Pay Later apps to buy their
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  groceries. What that means is
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  people can't afford food. And if we look at shelter,
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  people can't afford rent or a mortgage. And so if you look at
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  the three most important human needs there are, the first one
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  is actually shelter. People think it's actually water. It's not. People
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  think it's water, then food, then shelter. It's actually not. It's shelter. then
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  water, then food. Because if you don't have shelter and you're exposed, you
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  can die of hypothermia and cold very quickly. So shelter is
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  more important than water. And if people can't afford shelter, and if they're using
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  buy now, pay later apps like Klana and Afterpay to
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  buy groceries, we are in a lot of trouble. So
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  if you're not working two jobs, you will be very soon, no doubt, and
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  you're going to start to have to really tighten things up because the way the world's headed,
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  it's going to get very tough, okay? So most people have less
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  than 10K in savings and some can't even afford their groceries. And
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  the cost of living, while it's soaring, wages are also flat because
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  what's happening with wages, even if wages are at 3%, inflation
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  is more like 3 to 5. And so wages in
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  real terms aren't even increasing. But worse than that, shelter
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  in terms of property seems to be growing at 3% to 5% to 7% a
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  year, particularly in Australia, which means people are being priced out
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  of the housing market, not just in mortgage repayments, but also in rentals.
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  Because we're not supplying the housing market here fast enough, and we're immigrating too
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  many people. It's very obvious what's happening. And of course, adding
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  on top of that, the energy crisis we're all in. No wonder people