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Record-Breaking U.S. Credit Card Debt: Could it Trigger a National Crisis? · Earn Your Leisure

• 0:00
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 0:03
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 0:07
  Speaker 1: accused of murdering a Texas man of Venezuelan charged with
• 0:11
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 0:15
  Speaker 1: some of the heinous migrant criminals caught because of President
• 0:19
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 0:23
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal border
• 0:28
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 0:31
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 0:35
  Speaker 1: are here illegally, your next you will be fined nearly
• 0:39
  Speaker 1: one thousand dollars a day, imprisoned, and deported. You will
• 0:43
  Speaker 1: never return. But if you register using our CBP home
• 0:46
  Speaker 1: app and leave now, you could be allowed to return legally.
• 0:50
  Speaker 1: Do what's right. Leave now. Under President Trump, America's laws,
• 0:55
  Speaker 1: border and families will be protected.
• 0:57
  Speaker 2: Sponsored by the United States Department of Homeland Security.
• 1:00
  Speaker 3: It's more expensive to buy a car than ever and
• 1:05
  Speaker 3: the credit card debt has almost one trillion dollars, So
• 1:10
  Speaker 3: five hundred and seventy five dollars is the average car
• 1:12
  Speaker 3: payment for a new car. Four hundred and thirty is
• 1:16
  Speaker 3: the average payment for a used car. Talked about credit
• 1:20
  Speaker 3: card debt all time high, and the average interest rate
• 1:24
  Speaker 3: for the credit card is twenty percent interest.
• 1:27
  Speaker 4: What so.
• 1:30
  Speaker 3: Wait, yeah, how is this impactful for the economy?
• 1:34
  Speaker 5: I think going to the political landscape, I know they
• 1:39
  Speaker 5: keep reporting that the job market is doing well. Going
• 1:42
  Speaker 5: back to your ideology, I don't feel that and see
• 1:45
  Speaker 5: that like in the threads that I'm in, not on threads,
• 1:47
  Speaker 5: but like in Instagram and telegram, Like there's a great
• 1:53
  Speaker 5: portion of people who just don't even want to work
• 1:56
  Speaker 5: because they're like, what's the point of working my entire life?
• 2:00
  Speaker 5: Even if we talk about a four O one K,
• 2:02
  Speaker 5: A four one k is not going to give you
• 2:04
  Speaker 5: the same kind of games if you invested for yourself,
• 2:07
  Speaker 5: because it's throttling inside of the system.
• 2:09
  Speaker 4: I get that.
• 2:10
  Speaker 5: I think most people are feeling, especially in this generation,
• 2:14
  Speaker 5: are feeling a little bit hopeless, especially with like mortgages
• 2:18
  Speaker 5: going up. The rental landscape is incredibly high. Credit card
• 2:23
  Speaker 5: debt is like at one of its top levels of
• 2:24
  Speaker 5: all time. As a country, I think we need to
• 2:28
  Speaker 5: do a much better job of like finding safety and
• 2:32
  Speaker 5: this job landscape. So even like, let's take Twitter in
• 2:35
  Speaker 5: a way, everyone was fired, I think a lot of
• 2:37
  Speaker 5: people need to be let go because it's bad leadership.
• 2:40
  Speaker 5: But then you can't say to them, well, you can't
• 2:42
  Speaker 5: have a job anywhere else, and don't go to Facebook
• 2:44
  Speaker 5: or excuse, don't go to Meta because you were over
• 2:46
  Speaker 5: here at Twitter.
• 2:47
  Speaker 4: When you violently threw them out.
• 2:49
  Speaker 5: I think as a country, one of our biggest risks
• 2:52
  Speaker 5: is the implosion from the inside that Ray Dalio talks about,
• 2:56
  Speaker 5: is there's just not enough good quality jobs and not
• 2:58
  Speaker 5: enough good quality company.
• 3:02
  Speaker 4: And that is a big stain on America.
• 3:05
  Speaker 5: Like it's the reasona why we only come here and
• 3:07
  Speaker 5: talk about maybe twelve companies each episode. Most of them
• 3:10
  Speaker 5: are not worth their weight in gold. They're not like
• 3:14
  Speaker 5: and I search high and low. But we're going through
• 3:17
  Speaker 5: a revolutionary change and also an industrial change, and it's
• 3:22
  Speaker 5: just not like a lot of good companies. But as
• 3:23
  Speaker 5: a result, we are not creating a lot of high
• 3:26
  Speaker 5: quality jobs either. And it's one of the biggest threats
• 3:28
  Speaker 5: to our GDP, Like our stud loan bubble shouldn't be
• 3:32
  Speaker 5: about to burst and at the highest levels being credit
• 3:35
  Speaker 5: card debt, and then we haven't even talked about on
• 3:39
  Speaker 5: the mortgage side as well, like the debt bubble. We're
• 3:42
  Speaker 5: in like a bubble of everything right now and everyone's
• 3:45
  Speaker 5: acting like everything's fine and leadership won't address this. We
• 3:49
  Speaker 5: have to make a change quickly, or I'm very fearful
• 3:51
  Speaker 5: like people you guys put in the comments, like when
• 3:54
  Speaker 5: you go even applying for a job, most people don't
• 3:57
  Speaker 5: even feel like they're going to get a call back
• 3:59
  Speaker 5: or a great interview, like the disdain for even applying,
• 4:06
  Speaker 5: or companies not even having grace to say, hey, it's
• 4:09
  Speaker 5: not a good fit, but maybe I can put you here,
• 4:11
  Speaker 5: or even when they tell you, hey, we'll keep your mind,
• 4:13
  Speaker 5: you know that they're not keeping your mind like people
• 4:15
  Speaker 5: have just quit. And also that has led to the
• 4:17
  Speaker 5: entrepreneurship boone as a result, because people have had to
• 4:21
  Speaker 5: create out of desperation or out of meat. But one
• 4:24
  Speaker 5: of the biggest mistakes I think our country has made
• 4:26
  Speaker 5: is not securing our job market for our citizens.
• 4:33
  Speaker 6: Yeah, well, we saw a slow down in the job
• 4:35
  Speaker 6: report speak, which obviously.
• 4:39
  Speaker 4: What the comments are looking at it. Ernest, what's up?
• 4:42
  Speaker 6: You ever walk into a small business and everything just
• 4:45
  Speaker 6: works like the checkout is fast, the receipts are digital,
• 4:48
  Speaker 6: tipping is a breeze, and you're out the door before
• 4:51
  Speaker 6: the line even builds odds are they're using Square. We
• 4:56
  Speaker 6: love supporting businesses that run on Square because it just
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• 5:08
  Speaker 6: manage inventory, and run their business with confidence, all from
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• 5:15
  Speaker 6: just thinking about launching something soon, Square is hands down
• 5:19
  Speaker 6: one of the best tools out there to help you start, run,
• 5:22
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• 5:25
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• 5:27
  Speaker 4: What matters most ready.
• 5:29
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• 5:42
  Speaker 6: Let's Square handle the back end so you can keep
• 5:45
  Speaker 6: pushing your vision forward. This episode is brought to you
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  Speaker 6: by P and C Bank. A lot of people think
• 5:53
  Speaker 6: podcasts about work are boring, and sure, they definitely can be,
• 5:58
  Speaker 6: but Understanding a professional's routine shows us how they achieved
• 6:01
  Speaker 6: their success little by little, day after day.
• 6:05
  Speaker 4: It's like banking with P and C Bank. It might
• 6:07
  Speaker 4: seem boring.
• 6:08
  Speaker 6: The safe plan and make calculated decisions with your bank,
• 6:11
  Speaker 6: but keeping your money boring is what helps you live
• 6:14
  Speaker 6: a more happily fulfilled life. P and C Bank Brilliantly
• 6:18
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• 6:23
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• 6:26
  Speaker 6: P and C Bank National Association Member FDIC.
• 6:32
  Speaker 1: An illegal alien from Guatemala charged with raping a child
• 6:35
  Speaker 1: in Massachusetts. An MS thirteen gang member from Al Salvador
• 6:39
  Speaker 1: accused of murdering a Texas. Man of Venezuelan charged with
• 6:43
  Speaker 1: filming and selling child pornography in Michigan. These are just
• 6:47
  Speaker 1: some of the heinous migrant criminals caught because of President
• 6:51
  Speaker 1: Donald J. Trump's leadership. I'm Christy nom the United States
• 6:55
  Speaker 1: Secretary of Homeland Security. Under President Trump, attempted illegal bord
• 7:00
  Speaker 1: crossings are at the lowest levels ever recorded, and over
• 7:03
  Speaker 1: one hundred thousand illegal aliens have been arrested. If you
• 7:07
  Speaker 1: were here illegally, your next you will be fine nearly
• 7:11
  Speaker 1: one thousand dollars a day. Imprisoned and deported, you will
• 7:15
  Speaker 1: never return. But if you register using our CBP home
• 7:18
  Speaker 1: app and leave now, you could be allowed to return legally.
• 7:22
  Speaker 1: Do what's right. Leave now. Under President Trump America's laws,
• 7:27
  Speaker 1: border and families will be protected.
• 7:30
  Speaker 2: Sponsored by the United States Department at Homeland Security.
• 7:32
  Speaker 4: It's like, all right, well, inflation is working.
• 7:35
  Speaker 6: So, I mean, we we talked about some of the
• 7:39
  Speaker 6: jobs and they're not the best, right and so we
• 7:41
  Speaker 6: talked about leisure, hospitality that's going down. We've talked about
• 7:46
  Speaker 6: transportation that's going down. Warehousing is going down. But a
• 7:50
  Speaker 6: couple sectors that have going up inside the job market
• 7:52
  Speaker 6: healthcare up forty one thousand, social assistance, and construction. So
• 7:56
  Speaker 6: that construction is always encouraging, right, because that means that real.
• 8:01
  Speaker 4: Estate is going to be an impact of that.
• 8:03
  Speaker 6: Over the companies that are inside of that will work,
• 8:06
  Speaker 6: reads will increase. So construction is always some disencouragement because
• 8:10
  Speaker 6: more things are being built. But the problem is if
• 8:12
  Speaker 6: the inturrates are high, who's going to be able to
• 8:14
  Speaker 6: afford to live inside those things? Absolutely, So it goes
• 8:18
  Speaker 6: back to that balance of like trying to have a
• 8:20
  Speaker 6: soft landing, but I don't know how you do it.
• 8:23
  Speaker 4: It seems almost impossible.
• 8:25
  Speaker 5: And then Dave that the Gross to the LA Show
• 8:27
  Speaker 5: told us about the income and commercial real estatele so
• 8:29
  Speaker 5: we have commercial.
• 8:30
  Speaker 4: Real estate boom.
• 8:32
  Speaker 5: Currently there only seven companies keeping the S and P
• 8:36
  Speaker 5: five hundred up suit loan bubble on the horizon.
• 8:39
  Speaker 4: Then we have credit card debt.
• 8:41
  Speaker 5: Yeah, it's been a gross mismanagement of GDP fund capital
• 8:48
  Speaker 5: deployment for like the last thirty or forty years, and
• 8:50
  Speaker 5: no one wants to say anything and act like everything's okay,
• 8:53
  Speaker 5: even crypto. The entire case of crypto being more valued
• 8:57
  Speaker 5: came from two thousand and seven and eight, the mistrust
• 9:00
  Speaker 5: in the banking system. Then the banks tried to like
• 9:02
  Speaker 5: crush it.
• 9:03
  Speaker 4: It didn't work.
• 9:04
  Speaker 5: Now they want to take over the thing that was
• 9:06
  Speaker 5: the alternative to them after people lost trust, Like, come on, man, like,
• 9:13
  Speaker 5: we have to do better. We're slowly eroding from the inside.
• 9:17
  Speaker 5: And I know people gonna be like, what, there's no
• 9:18
  Speaker 5: where else to go but to America. I hear that,
• 9:21
  Speaker 5: But these are the ways that you're gonna have to
• 9:24
  Speaker 5: think if you want to be an investor. Because and
• 9:27
  Speaker 5: the school was saying that this shout at the Fatman
• 9:29
  Speaker 5: School people saying it like, y'all wish you all to
• 9:31
  Speaker 5: listen from the very beginning.
• 9:33
  Speaker 4: This is all stuff he said publicly.
• 9:35
  Speaker 5: He was like, Yo, when I got divorced, I have
• 9:36
  Speaker 5: to pay sixteen thousand a month in alimony. And advisor
• 9:39
  Speaker 5: told him if he had to put sixteen thousand into
• 9:41
  Speaker 5: the market for five or six years, every twenty four million.
• 9:43
  Speaker 4: He was like, I didn't know these things until I
• 9:45
  Speaker 4: came across y'all on this show. I just didn't know.
• 9:48
  Speaker 5: Because in the entertainment business, that's another way that they
• 9:51
  Speaker 5: get us to generate a ton of revenue but give
• 9:53
  Speaker 5: us very little equity and very little money in proportion
• 9:55
  Speaker 5: to what we're actually worth. That's why it feels like
• 9:59
  Speaker 5: when we come on here, we get to talking that
• 10:00
  Speaker 5: shit as not used to being done, because most artists,
• 10:03
  Speaker 5: or most black entertainers or black entrepreneurs are usually pigeonhole
• 10:08
  Speaker 5: because they're not making that much money.
• 10:11
  Speaker 4: And now we're seeing a new.
• 10:12
  Speaker 5: Revolution where a lot more of us are are a
• 10:15
  Speaker 5: little bit financially free and a lot more financially savvy,
• 10:19
  Speaker 5: and they're trying to stop that as well. So kudos
• 10:22
  Speaker 5: all of you who have been implemented the advice. Shout
• 10:24
  Speaker 5: out to my Man's scoop. I appreciate you, and you
• 10:26
  Speaker 5: can Floyd in that New York show great investment. The
• 10:30
  Speaker 5: advice was given there too. But I think we have
• 10:34
  Speaker 5: to be very mindful of the environment that we're in.
• 10:36
  Speaker 5: But the only way to outpace inflation is to invest.
• 10:39
  Speaker 5: If inflation goes up to seven percent, yep, what are
• 10:44
  Speaker 5: you gonna do. You have to invest in the greatest
• 10:45
  Speaker 5: companies on earth in order to outpace inflation, which makes
• 10:48
  Speaker 5: you go broke a lot faster.
• 10:50
  Speaker 6: Yeah, And we are expecting in two weeks another rate
• 10:53
  Speaker 6: hike with more to come. So that was I know
• 10:56
  Speaker 6: they paused in June, which most people are critical. Why
• 11:00
  Speaker 6: pause if we know that there's still more to raise
• 11:03
  Speaker 6: the more they said, maybe two to three more rate
• 11:04
  Speaker 6: heights before twenty twenty three is out. So we're not
• 11:08
  Speaker 6: out the words by any stretch of the imagination.
• 11:11
  Speaker 1: Tough an illegal alien from Guatemala charged with raping a
• 11:15
  Speaker 1: child in Massachusetts. An MS thirteen gang member from Al
• 11:19
  Speaker 1: Salvador accused of murdering a Texas man of Venezuelan charged
• 11:24
  Speaker 1: with filming and selling child pornography in Michigan. These are
• 11:28
  Speaker 1: just some of the heinous migrant criminals caught because of
• 11:31
  Speaker 1: President Donald J. Trump's leadership. I'm Christy Noman, the United
• 11:35
  Speaker 1: States Secretary of Homeland Security. Under President Trump, attempted illegal
• 11:40
  Speaker 1: border crossings are at the lowest levels ever recorded, and
• 11:43
  Speaker 1: over one hundred thousand illegal aliens have been arrested. If
• 11:47
  Speaker 1: you are here illegally, your next you will be fined
• 11:51
  Speaker 1: nearly one thousand dollars a day, imprisoned, and deported. You
• 11:55
  Speaker 1: will never return. But if you register using our CBP
• 11:58
  Speaker 1: home app and leave now, you could be allowed to
• 12:01
  Speaker 1: return legally. Do what's right. Leave now. Under President Trump,
• 12:06
  Speaker 1: America's laws, border and families.
• 12:09
  Speaker 2: Will be protected. Sponsored by the United States Department of
• 12:11
  Speaker 2: Homeland Security.