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The real financial crisis in America is personal debt · Cultural Wars | America Out Loud News

• 0:09
  You're listening to the Hidden Likeness on America Out Loud Talk Radio.
• 0:13
  I'm your host, Jimmy Hinton.
• 0:14
  Well, we'll end the week with positive news for the economy.
• 0:20
  Posit numbers came out this week.
• 0:23
  And I know it's a lot of uh a lot of eyes are on the war in Iran.
• 0:28
  And uh rightfully so.
• 0:30
  I think that's uh perfectly acceptable and and understandable, but these numbers are really, really important.
• 0:38
  And uh actually good numbers came out on Wednesday, uh, twice, two different times.
• 0:48
  The ADP released their February private sector jobs data, and it was much better than anticipated.
• 0:56
  Uh, the private sector added 63,000 jobs in February, which is above expectations.
• 1:04
  And we'll talk about what this means for the economy, what it means for you.
• 1:09
  Uh the stock market is is taking a dive right now, and that's because of the geopolitical uh problems in the Middle East, and that's perfectly normal.
• 1:20
  Uh, this is very typical, and uh the market will correct itself, and there are alarmists out there who are talking about the economy's crashing, and this just proves it, and uh you should pull your retirement money out because it's gonna crash and burn.
• 1:37
  And I just want to break that down a little bit and talk about the historical data whenever we've come out of a geopolitical mess, which President Trump has vowed that this war is gonna end very soon, that we're ahead of schedule.
• 1:57
  He originally said three, maybe four weeks, and uh we should be pulling everybody out, pulling troops out, and uh I tend to agree.
• 2:09
  I think he has a very clear plan.
• 2:13
  They knew that Iran was going to throw everything that they had at the United States, and what they're doing in bombing other countries, is that they're trying to deplete the United States financially.
• 2:29
  Uh, they know that uh we can't spend an endless amount of money on on a war, and so they're literally throwing everything that they have to try to make this a very expensive war for us.
• 2:44
  Well, in the meantime, we have been very strategic with what we've taken out.
• 2:50
  We've taken out, I think now 11 or maybe even 14 uh of their ships, uh very strategic ships.
• 2:59
  We've taken out much of their air fleet, and uh they just they they keep going.
• 3:06
  So uh we're being very strategic with this.
• 3:10
  Uh we've bombed over 2,000 very strategic uh uh sites, and uh we definitely have brought Iran to their knees, and that's the plan.
• 3:25
  So back to the economy.
• 3:29
  Uh a lot of people are panicking over the economy, and I I want us to keep a clear head about this, because panic doesn't do us much good.
• 3:39
  Getting emotional doesn't do us a whole lot of good.
• 3:44
  We've got to look at numbers.
• 3:45
  We have to trust the numbers, and uh we've got to learn how to kind of proceed from there.
• 3:52
  What do we do?
• 3:53
  How does that affect us?
• 3:54
  How does that affect our families?
• 3:56
  What sectors are uh vulnerable right now, and what sectors are doing exceptionally well.
• 4:04
  Uh, because none of us like seeing people laid off from work.
• 4:08
  None of us like being laid off from work, though I'm guessing that probably the majority of us have been in that position.
• 4:15
  I've been there before.
• 4:17
  Uh I've been laid off a couple of times before due to companies downsizing or coming to a close.
• 4:25
  And that's just that's par for the course.
• 4:29
  It happens, we need to be prepared for it.
• 4:32
  As Americans, we typically are not prepared for uh any kind of change, any kind of fluctuation in our um income.
• 4:44
  In fact, I want you to listen to these numbers because these are staggering, and it's really important to wrap our minds around this.
• 4:52
  And uh, this is not a judgment.
• 4:54
  That's just saying that this is where Americans are right now, but 21 to 28% of Americans have no emergency savings whatsoever.
• 5:04
  None.
• 5:06
  30 to 43 percent of Americans lack sufficient emergency savings to cover basic expenses for one single month if they lost their job.
• 5:19
  Uh many report zero savings at all.
• 5:23
  Roughly one in four Americans, 25 to 28 percent of Americans have zero emergency savings.
• 5:33
  Now that number is a little bit different than what I just read.
• 5:36
  Uh 21 to 28%, it depends on on the source, but roughly anywhere from 21 to 28% have zero emergency savings.
• 5:49
  Nearly half of Americans, 43% to 49%, cannot cover a 1,000 dollar emergency expense without borrowing.
• 5:59
  That's according to CBS News.
• 6:02
  Uh, there are multiple sources, and I've looked at lots of them over the years, and they're all within the ballpark, um, right in this area, right in this neighborhood.
• 6:12
  So you think about that.
• 6:14
  Half of Americans, half of Americans can't afford a 1,000 dollar emergency expense.
• 6:23
  And we've all had them.
• 6:25
  Uh repairs on cars are incredibly expensive.
• 6:28
  I literally just put $3,000 in a matter of less than two months into one of my vehicles.
• 6:37
  And that was all repairs.
• 6:40
  Uh, unexpected repairs.
• 6:43
  So we we budget for that.
• 6:45
  My wife and I budget, and of course, that wiped out and nearly wiped out our our car budget for repairs, but we budget for these kinds of things.
• 6:55
  We budget for emergencies, and most Americans, half of Americans could not afford a 1,000 emergency expense.
• 7:06
  We need our car, that's why we have an emergency fund for our car.
• 7:11
  We need our house.
• 7:12
  That's why we have emergency expenses, uh, emergency uh funds, savings for the house.
• 7:22
  We need each other, that's why we have emergency funds for medical expenses, and on and on it goes.
• 7:30
  Now, some people just lump emergency expenses altogether or their emergency savings, rather.
• 7:36
  But most Americans, half of Americans at least couldn't even afford a thousand dollars.
• 7:43
  And I think, man, if you even sneeze sideways, you could spend a thousand dollars easily on some kind of emergency.
• 7:53
  Somebody breaks a leg.
• 7:55
  You know, you have a kid that uh that does something and needs ditches.
• 8:00
  You have a car that breaks down, like I said, I have a car I know firsthand, literally within the last few weeks.
• 8:09
  I've dropped $3,000 in car repairs.
• 8:15
  $3,000.
• 8:18
  And though I didn't like spending that much, my wife and I didn't uh really flinch at that because we we had saved for it.
• 8:27
  We had set aside for these kinds of emergencies.
• 8:33
  Um a lot of Americans, 30 to 50 percent of Americans have less than one month of savings.
• 8:42
  That's according to different 2025 and 2026 reports.
• 8:48
  So this is current.
• 8:50
  Nearly half of Americans could not make it one month if they lost their job.
• 8:58
  And so this is really important, and these numbers are important, and we really must pay attention to them, folks.
• 9:06
  So, with that said, here we have it.
• 9:08
  Companies in the private sector added 63,000 jobs in February.
• 9:14
  Payroll processing firm ADP said on Wednesday.
• 9:22
  Uh the prior month's payrolls number was revised lower to a gain of just 11,000 from an initially reported gain of 22,000.
• 9:34
  Uh we see an increase in hiring and pay gains remain solid, especially for job stayers, said Neila Richardson, ADP chief economist.
• 9:45
  But with hiring concentrated in only a few sectors, our data shows no widespread pay benefit from changing jobs.
• 9:53
  In fact, the pay premium for switching employers hit a record low in February.
• 10:00
  And so they're saying long term, uh, you're better off if you stay long term at a job.
• 10:07
  And uh that's just the current state of the economy right now.
• 10:12
  Education and health services added 58,000 positions.
• 10:17
  That was the leading job creation in February.
• 10:21
  And I think that's going to continue to grow.
• 10:23
  Construction added 19,000.
• 10:26
  Information gained 11,000, and other services added 6,000.
• 10:31
  So, in other words, if right now you want to migrate to where the biggest needs are, it's education and health services.
• 10:42
  There's a huge demand right now.
• 10:44
  There are tons and tons and tons of teachers that are retiring.
• 10:47
  We're seeing this within our school districts, and I'm sure this is being replicated all across America.
• 10:54
  We need people to go into the education field.
• 10:58
  This is wildly different from just 20 years ago, um, at least in our state.
• 11:04
  In Pennsylvania 20 years ago, not even 20 years ago, 15 years ago.
• 11:09
  There was an overabundance of people going into education.
• 11:14
  It was highly competitive.
• 11:18
  Every position in our local school districts had about 150 to 250 applicants per position.
• 11:26
  Now they're begging people.
• 11:30
  It's very difficult to find app to even find applicants, let alone to find people to fill the positions.
• 11:38
  So education health services, we know that the health services have been hit pretty hard.
• 11:46
  Uh there's a huge demand.
• 11:48
  Not enough people going into nursing and uh nursing is a it is a wide open field, but doctors, nurses, PAs, um, all of those.
• 12:00
  Wide open field.
• 12:03
  So the the jobs are out there, and I don't care what people say.
• 12:08
  Uh they complain about the economy, they complain about Trump ruining everything.
• 12:14
  He, you know, everything he touches just turns to crap.
• 12:17
  But if you look out there, there are plenty of jobs, plenty of availability.
• 12:23
  I've talked repeatedly about Mike Rowe.
• 12:26
  I happen to really respect Mike Rowe.
• 12:28
  I think that he has a good finger on the pulse of what's happening in America within the job force.
• 12:38
  Uh, deadly jobs in America.
• 12:40
  There's fact here's an article here, deadliest jobs in America revealed.
• 12:45
  Deadly jobs, dirty jobs, those jobs are jobs that uh people don't typically want to take.
• 12:51
  And the fields are wide open.
• 12:54
  Absolutely wide open.
• 12:57
  Financial activities added 2,000 jobs, natural resources and mining gained 2,000.
• 13:04
  And leisure and hospitality added 1,000.
• 13:07
  There's a growing shift in America.
• 13:11
  And uh, this I think needs to be on a radar.
• 13:14
  Look how many people bought RVs back during the pandemic.
• 13:21
  Yeah, people just went there, they were like, uh, heck with it.
• 13:24
  Like life is short.
• 13:26
  You never know when you're gonna go, when you're gonna go, when you're gonna die, and they just went out and started buying RVs like crazy.
• 13:33
  That field absolutely skyrocketed.
• 13:36
  I mean, it just it went haywire.
• 13:41
  And now leisure and hospitality, it's fallen like a rock.
• 13:48
  And I think I saw somewhere that the uh repossessions on RVs is really high.
• 13:54
  I have to look that up and double check.
• 13:58
  Yeah, here we go.
• 13:59
  I just looked up.
• 14:00
  Um, the car and RV repossessions are experiencing a significant surge with industry data indicates levels of distress not seen since the 2009 Great Recession.
• 14:14
  This is driven by high vehicle prices, high gas prices, elevated interest rates, overall inflation, and a lot of consumers are finding it impossible to keep up with the payments.
• 14:26
  Well, I guess so.
• 14:28
  If you can't even come up with a thousand dollars in an emergency of half of Americans can't come up with a thousand dollars.
• 14:37
  And they certainly can't make it for 30 days if they lose their job.
• 14:42
  They can't make up 30 days in an emergency.
• 14:48
  I guess repossessions are going to be pretty high.
• 14:50
  People are stretched too thin.
• 14:52
  People are taking out way too much debt.
• 14:56
  And uh we have a debt hungry nation.
• 15:02
  Uh, people are house poor.
• 15:05
  Gary V talks about this all the time.
• 15:07
  He said that we have a crisis in America where people are house poor.
• 15:13
  You know, technically their net worth looks like it's high on paper, but they're house poor.
• 15:20
  They may not have other debt, but they're they're taking out mortgages that are way in over their heads, and they're upside down on the mortgages.
• 15:30
  And all it takes is one emergency to miss a couple payments, and the bank is knocking on your door.
• 15:36
  Trust me, the bank will come and get their money.
• 15:39
  By their money, I mean their house.
• 15:43
  Yeah, we talk about this all the time.
• 15:45
  When before we had our mortgage paid off, we always said this is not our house.
• 15:51
  This house belongs to the bank.
• 15:53
  Once we pay it off and we have the deed in hand, then it's our house.
• 15:59
  Kind of, we're still paying property taxes.
• 16:02
  So technically, I guess the government owns the house now.
• 16:07
  Because if you miss your property tax payments, they're gonna come knocking on the door and they're gonna take their house, which should be your house.
• 16:18
  But at any rate, there's a huge surge in the numbers.
• 16:20
  Car repossessions increased 43% between 2022 and 2024.
• 16:28
  Reaching an estimated 1.73 million to 2.5 million vehicles every single year that are repossessed.
• 16:37
  That's crazy.
• 16:40
  Absolutely crazy.
• 16:42
  It's a problem.
• 16:43
  I mean, it's a it's a problem, and we need to acknowledge it.
• 16:46
  We're coming up on it on a break here.
• 16:48
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• 19:58
  According to the
• 20:00
  ADP.
• 20:01
  63,000 jobs were added in February.
• 20:05
  These are private sector jobs, and estimated 50,000 were supposed to be added, but the numbers came out better than expected.
• 20:14
  So this is good news for the economy, but we have to take the economy as a whole.
• 20:19
  We really have to look at the economy as a whole and realize that a lot of Americans are in trouble.
• 20:25
  And we've got to get a grip on our own personal debt.
• 20:29
  And I I talk about this because I'm very passionate about it.
• 20:33
  Of course, you know, I I wrote a book recently.
• 20:38
  And the title of my book is Tithing Your Time, Treasure, and Talent.
• 20:45
  And it's talking about how we we give the first fruits back to God.
• 20:50
  Right?
• 20:51
  That everything that we have is not our own.
• 20:54
  And I've always taken that position.
• 20:56
  I've always taken that stance that we don't take anything for granted.
• 21:00
  The air that we breathe, the water that we drink, the food that we have, the freedoms that we have, uh, all of that can be taken out in a heartbeat.
• 21:10
  We have less control over things than what we think we do.
• 21:14
  And therefore, we can't take them for granted.
• 21:17
  We shouldn't take anything for granted.
• 21:20
  Not in this life.
• 21:22
  And I truly believe, I truly believe to my core, based on the scriptures and just uh based on experience, that everything that we have is a gift.
• 21:34
  Everything.
• 21:37
  The roof over our house over our head, the cars that we drive, the jobs that we have, the water we drink, the air we breathe.
• 21:51
  It's all a gift from God.
• 21:55
  And we're not promised tomorrow.
• 21:57
  I don't care what people say.
• 21:58
  I'm not into the health and wealth gospel, where if you're just faithful to God, he's just going to bless you beyond measure, and uh, you know, the storehouses are going to be full, and you're going to be healthy and happy and eat, drink, and be merry and live happily ever after again.
• 22:14
  I I don't believe that.
• 22:15
  I've experienced too much heartache within my own family.
• 22:20
  We've experienced multiple crises.
• 22:24
  And we live in a broken world.
• 22:26
  Anything can happen.
• 22:29
  Things are unsure.
• 22:30
  And so the things that we can control, we should control.
• 22:37
  You know, there are a few things that we have control of in in this life.
• 22:42
  But the things that we do have control of, we should take control of.
• 22:46
  And we should honor God with our time with his money.
• 22:56
  It's really his time.
• 22:58
  With the time that he's given us with the money that he's given us with uh with everything, we should honor God.
• 23:06
  And that's the whole premise of the book is we tithe our time.
• 23:11
  That means we take the first 10% of our time.
• 23:14
  Do we take 10% of our time and give that back to God in the morning?
• 23:18
  When we wake up, do we dedicate the first 10% of our time to God in the form of helping other people, giving praise to him, thanking him for the gift of another day.
• 23:37
  Or do we squander that?
• 23:38
  Do we do we talk about my my?
• 23:40
  Do we say, oh, well, this is my job and my time, and therefore I'm gonna buy whatever I want.
• 23:48
  I'm gonna go out and I'm gonna, I'm gonna look for the car that I want.
• 23:51
  I'm gonna get the RV that I want, the boat, the, you know, we try to fill our life with all these things, and it's really sadly costing Americans dearly.
• 24:01
  I'm gonna read you some of these numbers, and they're alarming.
• 24:04
  I mean, I gotta tell you, they're alarming.
• 24:08
  As I mentioned, we have roughly half of Americans who could not make it 30 days if they lost their job.
• 24:19
  And people lose their jobs all the time.
• 24:22
  Happens all the time.
• 24:23
  42% of Americans say that their savings would not help them if they lost their lost their job today.
• 24:31
  Nearly half of Americans, their savings would not help them if they lost their job.
• 24:36
  What that tells me is they have not saved enough.
• 24:40
  43 to 49% of Americans would be unable to pay $1,000 emergency expense using only savings.
• 24:51
  21 to 28% of Americans have zero emergency savings whatsoever.
• 24:58
  Well, I guess your emergency savings can't help you if you don't have any.
• 25:04
  30 to 50% of Americans have less than one month of savings, according to 2025 and 26 reports.
• 25:12
  Well, I was talking about uh before the break, the repossessions of both cars and RVs.
• 25:19
  And these numbers are incredibly alarming.
• 25:24
  Car repossessions have increased 43% between 2022 and 2024, reaching an estimated 1.73 million to 2.5 million vehicles every single year that are repossessed.
• 25:41
  And I'm not making light of this, but this is this is another job that's wide open.
• 25:47
  There's a huge demand for tow truck drivers because of all these repossessions.
• 25:53
  It's sad, it's heartbreaking.
• 25:58
  So the projections for 2025 suggested that repossession numbers would exceed 3 million nearing the record highs of 2009.
• 26:11
  Now, I don't know if the numbers actually broke 3 million.
• 26:14
  I don't think those reports are out yet, or at least I can't find them.
• 26:19
  But it was projected that last year repossessions would top 3 million vehicles in the year.
• 26:28
  Roughly 5% of auto loans were 90 days or more delinquent by the end of 2024.
• 26:36
  Subprime auto loans are under particular stress with 60-day delinquency rates hitting 30-year highs.
• 26:46
  Three decades.
• 27:02
  And I I just sound that warning loud enough.
• 27:08
  Don't buy a car that you can't afford.
• 27:14
  We prefer cash.
• 27:17
  My wife and I have always paid cash with the exception of I say one and a half times.
• 27:26
  One time we bought a new car, which is uh we paid very aggressively on that and paid that off.
• 27:34
  In fact, that was our most recent car.
• 27:36
  That was when COVID prices were uh still in place for used cars.
• 27:41
  They were outrageously priced.
• 27:44
  We bought a brand new car and we paid it off very, very aggressively, very aggressively.
• 27:52
  Uh another time we didn't quite have enough cash.
• 27:57
  It was an emergency situation.
• 27:59
  We had a car that we planned on keeping for many, many years, and it developed a problem, and we just determined it wasn't worth, we would have had to get a whole new engine, and it wasn't worth that.
• 28:11
  So we handpicked the vehicle we wanted and paid almost cash for it.
• 28:19
  We were short just uh of a few thousand dollars, and in three months we had it paid in full.
• 28:25
  We had a three-month car payment.
• 28:30
  And so most Americans don't do that.
• 28:32
  They they they the average car payment is over $700 per car.
• 28:41
  Unbelievable.
• 28:42
  And that's just the car.
• 28:43
  That's not the RVs and the boats and all that stuff.
• 28:46
  Let's look at uh RV repossessions.
• 28:49
  That trend is creating a major uptick in RV repossessions.
• 28:57
  A lot of people are living in RVs because they were priced out of traditional housing, and they can't afford the RVs.
• 29:05
  RVs are expensive.
• 29:08
  They depreciate really quickly.
• 29:09
  I know I have one.
• 29:10
  I have a motor home, and uh it's used, it's nothing, nothing that fancy, but my wife and I fixed it up.
• 29:18
  We put thousands of dollars into it, and it's just every single year, we just pump more and more money into it.
• 29:27
  And we know, like we know it's a liability.
• 29:30
  Um, we could rent it out.
• 29:32
  We did rent it out for a short time, and then it just we we didn't have the time and decided, well, we'll just instead of making it an asset, we're we'll just keep it as a liability.
• 29:42
  And um, yeah, we know we know it's a toy, it's an expensive toy.
• 29:46
  We know that.
• 29:49
  We knew that when we got it.
• 29:52
  Uh but for us, the payoff is it's okay because we don't have any debt.
• 30:00
  And so for us, it's just it's a fun little toy.
• 30:04
  But I know the amount of money that you have to put into these things.
• 30:07
  I know from experience.
• 30:10
  And a lot of people buy them, and they think that if they buy new or buy almost new, they're not going to have to put that much money into them.
• 30:18
  Well, I've got news for you.
• 30:20
  I don't care if you buy them brand new, they're going to have problems.
• 30:25
  So as I mentioned, the average monthly payment for a new car is about $700 a month.
• 30:32
  Used cars average $500 a month.
• 30:38
  I mean, it's so insane how expensive cars are.
• 30:43
  Maintenance costs can exceed $500 a month.
• 30:48
  That's just on cars.
• 30:52
  Inflation and interest rate hikes, eroded customer purchasing power.
• 31:00
  And there's the end of pandemic leniency.
• 31:02
  You remember in the pandemic, they were allowing people to default on payments.
• 31:08
  You could default on your mortgage and not be kicked out of your house.
• 31:11
  You could default on your utilities and not be not face uh shutdowns.
• 31:21
  You could default on car payments and uh you would be all right.
• 31:26
  Well, those days are over.
• 31:29
  And so I think people got accustomed to that, and they're like, oh, that's you know, it won't affect me.
• 31:35
  And look what's happening.
• 31:37
  It absolutely 100% affects you.
• 31:41
  It affects all of us.
• 31:45
  So their estimates that shows as many as 20,000 cars are being repossessed every single day.
• 31:54
  Negative equity.
• 31:55
  A lot of individuals, most, in fact, I would say probably most are facing situations where they're upside down in equity.
• 32:02
  They have negative equity on their car.
• 32:07
  So they still owe money after their car has been repossessed and sold.
• 32:13
  They still that right?
• 32:14
  That doesn't get you out of your pain.
• 32:16
  It's not like the bank repossesses the car, then they call it even.
• 32:20
  If you have negative equity in your car, and a lot of people don't even know what that means.
• 32:26
  They're like, what is negative equity?
• 32:33
  It's just sad, folks.
• 32:35
  People are not educated.
• 32:37
  The uh when it comes to that, I'm not saying people are not educated.
• 32:42
  Uh people are not educated when it comes to their loans, what it means, what they owe, when they owe it.
• 32:50
  What it means to be upside down in equity to have negative equity.
• 32:55
  The amount of people who lease cars thinking that that's a good financial decision is staggering.
• 33:03
  And so on and on it goes, and people have stretched themselves, and they're complaining about jobs.
• 33:11
  And they're pointing the fingers at President Trump as if it's his fault that Americans have overextended themselves.
• 33:22
  So at any rate, the opportunities are out there.
• 33:25
  I'm telling you, the opportunities are there.
• 33:29
  The opportunities to save, the opportunities for jobs and job growth.
• 33:37
  I mean, look, let's look at some of these numbers before the break here.
• 33:42
  Again, the private sector added 63,000 jobs.
• 33:48
  That's incredible in the private sector.
• 33:52
  Construction.
• 33:53
  Construction added 19,000.
• 33:56
  Education and health services added 58,000 positions.
• 34:01
  Information, that's the AI sector.
• 34:04
  That's grown by leaps and bounds.
• 34:07
  11,000.
• 34:10
  Yeah, on the negative side, though, professional and business services lost 30,000.
• 34:17
  Manufacturing lost 5,000 positions.
• 34:20
  Trade, transportation, and utilities lost thousands.
• 34:24
  So they're kind of stabilized here.
• 34:28
  But the real growth is in education.
• 34:32
  The real growth is in health services.
• 34:36
  How long have I been barking up that tree?
• 34:39
  Especially health services for elderly people.
• 34:44
  That door is wide open.
• 34:47
  Wide open, and it continues to be wide open.
• 34:51
  And it will continue to be wide open.
• 34:53
  We have an aging population in the United States.
• 34:56
  So we have to start asking ourselves what does that mean?
• 34:58
  Because a lot of people, you know, sadly what happens is people come up with a dream and they're like, well, I want to get in this industry, and they don't research it.
• 35:07
  They've not been taught to research it.
• 35:08
  Young people have been taught you have to go to college, you have to gain an education, or you're never going to make it anywhere in life.
• 35:16
  And so they they fall for that hook, line and sinker, and they're not told what sectors are growing.
• 35:24
  You want to talk about a field that's wide open right now, electricians.
• 35:28
  My goodness, is that field wide open?
• 35:33
  That's not only recession proof, it's depression proof.
• 35:40
  And yet those jobs are looked down on, and that you know, people don't really want them.
• 35:44
  And well, that's you know, there's not that much money in it.
• 35:49
  That job is beneath me.
• 35:51
  Uh you know, we hear these kinds of things, and it's crazy.
• 35:54
  There's such opportunity, folks.
• 35:56
  I can't, I just can't over overstate this.
• 36:01
  And I feel like a broken record a lot of the times.
• 36:05
  But the economy is so robust right now.
• 36:10
  And we'll talk after the break about the stock market because it did take a big hit.
• 36:16
  And a lot of people are gonna look at that and they'll say, see, this is an indication that the economy is about to crash.
• 36:22
  It's about to go down in flames or up in flames, and people are gonna lose jobs, and it's just it's see, there's it's the Great Depression.
• 36:34
  Now, I'm not arguing that we're not headed for some kind of a recession.
• 36:40
  We're definitely long overdue, but we can weather that storm.
• 36:45
  We have to be prepared for it.
• 36:48
  And that's what I'm trying to get across to people.
• 36:51
  We've got to prepare.
• 36:53
  We don't know for certain.
• 36:56
  All that we know is that there are plenty of opportunities out there.
• 37:00
  There are lots and lots and lots of jobs available, tons of vacancies, lots of recession-proof jobs.
• 37:08
  We've got to be preparing for this, folks.
• 37:12
  We shouldn't be caught with our proverbial pants down, and then point the fingers and say, see, Trump caused this.
• 37:20
  That's mark my words.
• 37:23
  We've got to be prepared.
• 37:25
  Speaking of being prepared, all of our shows go to podcasts the next day after the broadcasts heard on Talk Radio.
• 37:32
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• 37:35
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• 39:27
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• 39:34
  And justice for all.
• 39:51
  We had other numbers that were positive for the economy.
• 39:56
  In fact, uh on Wednesday morning, the IS.
• 40:00
  SM services PMI numbers came out and they were actually very good.
• 40:08
  Anything over 50 shows that the industry expansion is happening.
• 40:14
  Anything below 50 means that there's a contraction.
• 40:18
  The number was 56.1, and it was projected to be 53.5, so well above expected.
• 40:28
  So it's a leading indicator of economic health.
• 40:34
  Businesses react to market conditions, and their purchasing managers hold the most current and relevant insight into the company's view of the economy.
• 40:46
  So it's a survey of 300.
• 40:50
  This is the uh PMI, the ISM services PMI.
• 40:54
  It's a survey of 300 purchasing managers.
• 40:59
  And it asks them to rate the relative level of business conditions, including employment, production, new orders, prices, supplier deliveries, and inventories.
• 41:13
  And so uh based on the latest survey it's looking pretty darn good.
• 41:21
  So we've got to keep a focus on this, folks.
• 41:25
  We hear all the time that the economy's crashing, that Trump is ruining everything, he's wrecking the economy.
• 41:32
  And we look at the numbers, and the numbers are uh they're really positive, at least for now.
• 41:39
  And I don't want to sensationalize anything.
• 41:42
  I just want to read the numbers exactly as they are.
• 41:47
  And I follow these numbers very closely because I happen to trade foreign exchange currencies, and uh, so what's happening in in the economy is very important when it comes to fundamentals, and I want to talk about the stock market right now because it's uh it's taking a hit, and that's because of the geopolitical mess that's going on right now in Iran, but this is perfectly normal.
• 42:18
  It's 100% normal, and a lot of people are panic selling right now.
• 42:24
  I actually have not contributed in 2026 yet because I've been kind of uh sitting on my hands waiting to see what's happening and uh waiting for a little bit of a correction, and this might just be the correction uh that the market was anticipating right now.
• 42:45
  You know, the market doesn't just go up in a straight line, it doesn't go up and up and up and up and up, and there are times of volatility, and right now the market is very volatile, and that can be a very good opportunity for people, and that's why it's really important to have extra money to not be strapped down with debt, like over half of Americans are right now.
• 43:10
  You know, you need to have cash flow to be able to put into investments.
• 43:17
  I I'm a firm, firm, firm believer in that you can't just save yourself, you know, by save yourself.
• 43:28
  I mean put money into savings, you can't save yourself to wealth.
• 43:34
  You know, wealth building comes through providing assets, and that can be in many different forms.
• 43:42
  There are a million different paths to uh to wealth building, but the opportunity is here, and that's one of the things that drives me crazy is when people talk about how all the opportunity to build wealth is it's been stripped away.
• 43:57
  Well, the boomers will tell you quit buying your $7 Starbucks.
• 44:02
  You know, back in our day, uh, we didn't go out to eat.
• 44:08
  We didn't buy new shoes when our shoes were out.
• 44:12
  We literally taped them together, and we just made it work.
• 44:17
  Well, that was back in the olden days, and you know, well, they did what they had to do to survive.
• 44:24
  That's how the boom boomers built their wealth.
• 44:28
  They were not wasteful, they didn't buy a brand new car every time, you know, every four years, every time they saw something that looked shiny, and they were like, hey, there's a hundred thousand dollar car, I'm gonna go out and buy that because it's cool, it looks cool.
• 44:48
  You know, we have to be smart about this, folks.
• 44:51
  I'm telling you, watching families come to financial ruin is it it's so painful.
• 45:00
  I literally just got an email the other day.
• 45:02
  I got an email um saying that there's a local woman who owes almost five thousand dollars in electric.
• 45:16
  Just that this is just one utility, just electric.
• 45:21
  And I just I it breaks my heart.
• 45:24
  I thought, how do you get to the point?
• 45:26
  How many payments do you have to miss to rack up a five thousand dollar electric bill?
• 45:37
  And her electric was going to be cut off on Monday of this week.
• 45:41
  I doubt that she got the money.
• 45:45
  There were a handful of churches that pledged small amounts, but we get there's we get these requests every single day, every day.
• 45:56
  That's just in our local community.
• 45:57
  We can't keep up with it, and so I see that side of it.
• 46:01
  I see the side, and that's why I'm driven to talk about this stuff.
• 46:07
  It's why I'm driven to talk about the economy and and to inform people to the best of my ability.
• 46:13
  You know, that's a hidden lightness.
• 46:15
  I'm not just about blowing sunshine and making things look like they're good when they're really not.
• 46:20
  Uh you you take the good with the bad, and you look for opportunities.
• 46:25
  And right now, the stock market, uh, I'm looking for opportunities.
• 46:32
  You know, it's bargain shopping.
• 46:33
  It's it's going to the thrift store.
• 46:37
  Incidentally, my wife just the other day, she bought a pair of jeans for the first time in, I forget how many years she said.
• 46:44
  I think three years.
• 46:47
  She's been buying all of her stuff from uh a thrift store.
• 46:50
  Literally all of her clothing comes from from a thrift store.
• 46:54
  Same with my daughter.
• 46:56
  They go together.
• 46:58
  It's kind of the mommy daughter date, and I absolutely love and adore that my wife and daughter do that together.
• 47:05
  It's so cool.
• 47:08
  And uh my wife said, I just I couldn't find anything.
• 47:12
  There was nothing at the thrift store, and I've been looking for a really long time.
• 47:16
  So she said, I'm gonna go to a regular store.
• 47:20
  She called it, she called it a normal person store.
• 47:25
  She came home, and she's like, I'm a little depressed.
• 47:30
  I was like, Well, did you get the pair of jeans that you wanted?
• 47:33
  And she's like, Yeah.
• 47:35
  Well, then why are you depressed?
• 47:36
  Because of what I paid for them.
• 47:40
  Yeah, she bought a whole bunch of clothing.
• 47:42
  She got actually got quite a bit.
• 47:44
  She still was uh bargain shopping.
• 47:48
  But she spent about a hundred dollars on clothes for her and all three of our kids.
• 47:53
  And I was like, 100 ain't bad.
• 47:58
  She's like, yeah, but I could have gotten all this stuff at the thrift store for 20.
• 48:04
  And it's just that mentality, right?
• 48:06
  It's it's that that way of thinking that you look for bargains, and once you're in that mindset, once you become disciplined in that, you learn to look for opportunities everywhere with the cars you buy, with the food you buy.
• 48:20
  You know, we shop at two different stores to buy groceries.
• 48:23
  It's a little bit of a pain in the butt, but uh you look for opportunities.
• 48:30
  You look for deals.
• 48:33
  And so the stock market right now, what you're gonna hear is oh my gosh, uh Trump is he's he's crashing the the stock market.
• 48:40
  It's in free fall.
• 48:42
  No, it's not.
• 48:45
  Here's an article just published on March 3rd.
• 48:47
  This is CNBC.com.
• 48:51
  Dow closes down 400 points after falling as much as 1200 points as Iran conflict volatility continues.
• 49:01
  Live updates.
• 49:03
  I'll read a little bit about this a little bit from this article.
• 49:07
  Stocks had another wild session on Tuesday as concerns about uh around a prolonged US-Iran conflict rattled markets.
• 49:16
  Though comments from President Donald Trump appeared to somewhat assage those worries.
• 49:22
  Dow Jones Industrial Average lost 403.51 points or 0.83% and ended at 48,501.27.
• 49:34
  The SP 500 slipped 0.94% to close at 60 or sorry, 6,816.63, while NASDAQ shed 1.2% or 1.02% at their lows of the day, the SP 500 lost 2.5%.
• 49:59
  The Nasdaq.
• 50:00
  Was down around 2.7%.
• 50:03
  The 30 stock Dow was down more than 1200 points or 2.6%.
• 50:09
  All right, so that's enough to make anybody panic.
• 50:11
  If you're sitting there watching the market, that translates to thousands and thousands of dollars out of your portfolio that's gone in a matter of literally minutes.
• 50:24
  So if you listen to the narrative, especially from the world of all things Trump sucks.
• 50:40
  All of it gone.
• 50:42
  And so you better pull your money out.
• 50:46
  Don't fall for it.
• 50:50
  Here's what President Trump said.
• 50:54
  He said on Tuesday that the U.S.
• 50:55
  Navy will escort tankers through the Strait of Hormos.
• 51:01
  Because Iran's threatened to bomb every ship that passes through there or to block passage of all ships.
• 51:10
  Trump said, no, I don't think so.
• 51:13
  So he said, no matter what, the United States will ensure the free flow of energy to the world.
• 51:19
  He said in a truth social post.
• 51:22
  The United States' economic and military might is the greatest on earth.
• 51:28
  More actions to come.
• 51:32
  So it's reassuring.
• 51:34
  And uh, you know, of course, the critics are going to point to Trump and then say he's full of crap and he doesn't know what he's talking about, and he's a bumbling idiot, and he's just starting all these uh wars across the world, and uh he's aggravating our our our allies, and hopefully you're getting a different picture than what the media is painting.
• 51:57
  I demonstrated yesterday when our military pilots were shot down, friendly fire over Kuwait.
• 52:06
  The Kuwaitis were absolutely welcoming and hospitable to them.
• 52:14
  Yeah, it took a little bit for the one pilot, it was a little dicey because they thought he was an Iranian, but once he was identified as an American, they were thanking him.
• 52:26
  One of them they put in the back of an SUV and took him to a military base.
• 52:32
  So the world has our respect.
• 52:34
  It really does.
• 52:37
  So at any rate, I I believe things are gonna wrap up pretty quickly.
• 52:45
  This is not gonna be drug out war.
• 52:47
  Um I didn't watch this piece on it, but um Glenn Beck had had done a piece on why this war is different, and why he truly believes that this is going to be a short war, that we should believe President Trump.
• 53:04
  And he said, and I'm not asking people to just blindly uh listen to him and take his word for it.
• 53:12
  He said this is based on a whole bunch of other reports, that this war is very different than other wars, and that's a good thing.
• 53:23
  You know, the President Trump vowed that he wouldn't drag a war out, that he wasn't gonna enter us into endless wars.
• 53:32
  And uh so when it comes to the economy, you know, he's not a stupid guy, and he's not gonna do something that cripples the United States.
• 53:42
  Yeah, I think he's proven by now that that's the last thing that he wants is for America to be crippled.
• 53:48
  And so everything that he does, he's doing that to position us and to strengthen us as a nation.
• 53:56
  So uh that may not give people much comfort, and that's okay.
• 54:01
  Uh people can still debate all day long.
• 54:05
  But the way that the market reacts and it responds to things really tells a story.
• 54:10
  And right now, we really are positioning ourselves to be to continue to be a very, very strong economy.
• 54:22
  So at the end of the day, excuse me, my allergies are really bad this time of year.
• 54:28
  Uh, as spring rolls in, so my my voice suffers because of it.
• 54:34
  But this time of year, um I really think we're positioned to be in a very good spot.
• 54:46
  But it's up to Americans, it's up to us, it's up to the individuals to take responsibility, to take responsibility for our own actions, to stop pointing fingers and to stop talking about how we're always victims.
• 55:01
  You know, I just I don't accept the victim mentality.
• 55:05
  Yeah, or are our uh our things higher is the cost of living higher?
• 55:10
  Yep, absolutely.
• 55:13
  But that's part of life.
• 55:17
  And so you adjust and you move forward.
• 55:21
  You know, we we can't always point the fingers and be full of hatred and talk about how people are screwing up, you know, the this president or that president or this person or that politician, this politician, that politician.
• 55:35
  We can't keep pointing fingers and not taking any responsibility ourselves.
• 55:40
  So we have such an opportunity to thrive in this nation.
• 55:43
  It's I I can't even begin to excribe, describe the opportunity that we have as Americans.
• 55:51
  I mean, we truly, truly are blessed.
• 55:54
  You hear me say that all the time, and I really truly believe it.
• 56:00
  We are blessed beyond measure.
• 56:03
  And so the question is, what are we gonna do with that blessing?
• 56:07
  Are we gonna bury ourselves in debt to the point where we're losing our homes?
• 56:12
  Because a lot of people are doing that, losing our cars, losing our things.
• 56:17
  Are we gonna position ourselves to thrive?
• 56:21
  And I'm not talking about survive.
• 56:23
  People talk about they're like, oh, I I hope I can survive this presidency.
• 56:30
  Why would you want to survive?
• 56:33
  Wouldn't you rather thrive?
• 56:36
  Wouldn't you rather do exceptionally well?
• 56:39
  I'm telling you that opportunity is there.
• 56:42
  It is that every single person's fingertips.
• 56:47
  We just have to be aggressive and take hold of it.
• 56:53
  We can't stay down, we can't remain victims.
• 56:58
  We have the ability to thrive, and that, my friends, is the hidden lightness.
• 57:04
  America's great.
• 57:05
  We're in a great, great position right now.
• 57:09
  You can find we're out about my show and get all the latest podcasts if you go to the Mendy Navigation Board, America Outloud.news under our shows or schedule.
• 57:17
  You'll be in the know.
• 57:18
  There is a hidden lightness that shines inside of all of us.
• 57:21
  When there's so much darkness that envelops the world, remember that it doesn't take much light to expose that darkness and to ultimately inspire other people.
• 57:29
  Join me in being a light.