But we're also going to see a lot of folks as far as their financials
when they've looked at you know, CD, especially the short term that's been
so good lately, the six months, seven month CDs that have been definitely
outperforming the two and five year. These rate cuts can drop CD rates,
which just means, you know, more than ever, they can reach out
to us here or their financial professional to wonder how are other ways to hedge
inflation. And we're going to see just a little bit of consumer cracks here
in the inflationary pressure that we're seeing because you it's economy, you know,
it grew a little slower paced than expected here for first quarter. You're listening
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you are watching and listening to the Financial Survival Network. I'm your host,
Kerry Lutz. Well, let's find out what's going on with the economy,
what it means for your your wealth or your retirement if that's in the cards
for you and our good friend Mindy back and us is back with us,
Mindy A. We got some numbers out, so tell us about the numbers
and what they mean and what you need to do about them. You bet,
thanks for having me, Carrie. We definitely do have some numbers back.
The DDP did grow at a one point six percent annual pace this first
quarter. Now I can tell you that did fall short a little bit of
the estimates, But I really think that this actually, in my opinion,
is a good thing because if we see this with some rate cuts, it
could drop some things that we're going to see, So, you know,
mortgage interest rates might start to fall and get more back on level playing field
we call it. But we're also going to see a lot of folks as
far as their financials when they looked at you know, CD, especially the
short term that's been so good lately, the six months seven month CDs that
have been definitely outperforming the two and five year These rate cuts can drop CD
rates, which just means, you know, more than ever, they can
reach out to us here or their financial professional to wonder, how are other
ways to hedge inflation. And we're going to see just a little bit of
consumer cracks here in the inflationary pressure that we're seeing because you it's economy.
You know, it grew a little slower paced than expected here for first quarter.
So this is a case of the bad news being good news. You
know, I think we're going to see pricing might be a little bit of
a problem. Economy slow a little bit, but the pullbacks, you know,
with what investors see, really we can rely on staying somewhat of a
course moving forward. So sometimes when we take a look at you know,
robust growth prospects remaining to likely scenario, all the growing performance a lot of
times to what I've seen lately is some of the unpredictability. But I looked
up some of the recent numbers and like business equipment spending, it actually still
rolls by a couple of percent. Residential fixed income investments grew over thirteen percent.
Intellectual property, especially actually carrying the realms of software went up over five
percent. So I think that we still need to be looking towards you know,
we talk about retirement. Made clear here all the time that if we're
looking at a positive focus and staying well diversified. I still think I can
give consumers a retirement confidence, especially when we see such a good first quarter
that we've had out of the S and B. Yeah, what about the
inflation numbers that you're purchasing power of your savings? Your dollar she continues to
be eroded, right, it sure does, yep. So we're seeing that
when we take a look at this, even compared to fourth quarter, the
declaration of the real GDP and the primary first quarters, it just means it's
respected of the declarations of what we're actually seeing putting pressures on consumers. The
spending, right, so we talk to tum's spending state and low government spending.
So our dollar just for sure is not that extending as far as what
it has beenen So we really need to see these movements, and sometimes they
can be offset a little bit by an acceleration even as like residential fixed investments.
But we really need to be careful of what we're seeing happening with the
dollar and what we're just really seeing with timeline. And I just don't see
that inflationary number changing anytime quite soon. So we just need to really,
you know, take a look, have a plan. I can't stress more
than ever. It's just to make sure consumers that are listening to carry watching,
is to make sure they have a plan, they're well diversified, and
they're actually realizing and notating what is actually happening here and how sustainable in what
long term this looks like quarter over quarter. So you know, the IMF
has sent a message to Congress, to the government that the current path the
country on is unsustainable. When are we gonna wake up and pull back from
the brink here? You know, that's the true question. I feel like
with this coming in at one point six, that actually to me is more
good news. We shouldn't see that come down some I would like to see
those mortgage interest rates and reduce them as CD rates as much as the folks
are all liking them. You know, we need to see some things to
come back to the level playing field. And I think this lower then projected.
You know, economy growth came alongside with this surprisingly high inflationary reading.
And really, if we take a look at the core our come you know,
our personal consumer expenditures. You know, we got to you know,
it exclosed the volatile food and energy categories, which those are still growing by
over three percent, So I think we just really need to see where things
are going to go. You know, we'll see some bond yields they rose.
So a big thing that we're seeing is with that ten year treasury at
a nearly seven basis points, reaching about four point seven for the first time
since early November twenty twenty three. I think we just need to take a
look that banks are going to hold rates a while and wait for inflation to
fall a little further. So continue to look ahead, don't make knee jerk
reactions. Talk to your you know, investor and your advisors, and make
sure that we're understanding what sectors to be in and we're to look further.
Okay, So what's your take on AI? Is it just the flavor of
the week or is it the next huge advancement that's going to affect the US
economy and the global economy much like the Internet did in early two thousands.
I think AI is here to stay, and I think we need to be
careful in what realms that we're actually utilizing AI. But you know, we've
seen it. We've seen all the way from you know, robot development of
what we've been seeing in some restaurants and serving things to how people are communicating.
We're in such a digital world even when we're taking a look at,
you know, some staples that we've actually seen of like Amazon, Cloud based,
the roadblocks of the world and such. But I really think we're going
to see AI continue to be in intrumental where we actually are as a country
globally, and so I do think that this is a space to look out
for and to have your hands in somewhat. Yeah, so is Nvidia can
it go up any higher? Or is it kind of through with it's run?
I think we're going to see I don't think we're going to see us
higher run of what we did, but I really think if consumers take a
look, you know, that's definitely where the buzz is at. I don't
think anything of what we should come out first quarter is going to affect that
much. But I don't think we're going to see another huge rise either.
And I think as long as we're looking at don't be too heavily in the
knee jerk reactions of oh my friends have it, or this is the new
hot item, Stay well diversified, stay the course, And I think we'll
see more things that come baxt quarter. All right, so what about the
prospects of AI. You know, I watched that. I can't remember the
name of it, but basically the guys said to the robot, hey,
I'm hungry, and the robot picked up an apple and threw it at him,
and you know that it was remarkable, and you know, then he
asked the robot how he thought he did or she I don't know. It
was probably pronouns really tricky when it comes to robots, you know, but
basically he said, yeah, I think I did. Okay, you know,
you ask you said you were hungry. I gave you the only food
that was on the table. And when you look at that and you say,
man, is just like everything's going to be done by the robots in
five to ten years. So you could just see it. Yeah, And
personally, I don't want to see that happen. I want to make sure
that, you know, it's really hard to take the flavor of personal approach
out of things. So, yes, there's some things that you know,
AI is great for. There's others that I think is a very fine line
about what we're asking for delivery opinions kind of just in my nature, even
the health of folks. Right, So, we weren't put on this earth
to be by ourselves. We're put on here to build communities around people.
So I think that we have to be very careful of what we're trying to
digitalized and systemize and make sure that we're finding that healthy, happy round medium
where we're actually utilizing as a great service work and as a tool. But
I have to do on Mendel boots for everything. Yeah, well, I
think the genie is out of the bottle or the toothpaste is out of the
tube. There's no stopping it now. And you know, like full self
driving, you know Tesla's it's basically a true autonomy. I think it's pretty
close, a lot closer than any of you out there might think it is.
It's going to have profound impacts here on society, on investing all of
these things. I think we're entering kind of a new paradigm here. I
knew too. I think picks that we're going to see, even with market
picks that we see you're right with how we're actually driving vehicles all the way
down to driver's license, where people are picking up food, how they're getting
it. You know what's going to happen to what we see different mom and
pop store, small shops or even restaurants. Are are people going to go
and dine in more so robotic and nature? Where are we actually going to
see things turn to? And you're right, I love your analogy, you
know, the genery out of the bottle? And now how do we how
do we curtain and kind of keep that even plow to try to make sure
that we are still people driven and consumer driven? All right, hey,
mindy, if we want to get in touch with you, we want to
follow you on the web and connect with you through the various outlets there.
How do we do that? Sure, they can go to Wealth Michigan dot
com. On there you're going to find any information, our podcast, our
radio show, educational series. So that's going to be the best way to
reach out to us here Wealth Michigan dot com to fight all things new about
Macintosh and associates. And we really like to make sure that we're focusing on
retirement made clear, So reach out plus eight seven seven two two two eight
eight four nine, and we'd love to make sure that we can continue to
focus on you. Okay, Hey, appreciate it. If you've got a
question for Mindy myself, shoot me an email Klatcarrielouds dot com and you'll find
a link to mindy site in the show notes to this interview on Financial Survival
Network dot com. While you're there, sign up for your free newsletter.
Mindy. Appreciate your stopping by. Thank you, We really appreciate it.
Appreciate being here, Thanks for listening to Carrie Lenz's Financial Survival Network, your
solution to today's trying times. For the latest, go to Financial Survivalnetwork dot
com. Financial Survival Network now more than ever,