Speaker 1: So these GDP numbers and things that come out, we
have to as a community start helping people, you know,
alongside people next to us. So sure, some people are
talking about investing, should we diversify, where should we go there?
But we need to actually be helping people that are
having a hard time with the inflationary numbers. They're working,
they have jobs, so it's hard for them to provide
for their family. So we need to be talking about
how can we help them gain and obtain better healthcare?
How is it going to be affordable for them, and
how can they actually truly say when they're just having
a hard time day to day, let alone look at
next month, the next, next year, next quarter for you know,
for all that.
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Speaker 3: Welcome you are listening to and watching the Financial Survival Network.
I'm your host, Carrie lutz Well We just got the
latest GDP numbers and they blew through expectations. How convenient
consumer spending is up, investment is up, government outlays is up. There,
our outlays are up. There's a shocker, and lots of
other good numbers that are bullish for the economy. I
felt better just reading a Mindy Macintosh is with us now,
and Mindy, you're from Wealthmichigan dot com. So we should
all be breaking out the champagne.
Speaker 1: Happy days are here again, right, I wouldn't be too
sure about that. I mean, it's nice GDP, yes, two
point eight, I get it, But I was kind of
teasing here earlier. Today we have some sizzle and some
fizzle all with this coming out currently, so we're just
seeing things kind of stay put right now. It doesn't
mean we're not trending towards the recession though, so that's
not always good stable ground there. But we haven't seen
much change of the housing units. We're seeing less job
opportunities entering the market, so we're going to have to
see some chades here in the upcoming future. But for now,
that's kind of staying put, as you know, kind of
anticipated for us.
Speaker 3: Right, So how much of this is real? How much
of this is political? Do you think? Oh?
Speaker 1: I think that we always have to throw that into there.
If you even take a look at any of the
news sectors of the past and been ten days right
of everything that we've seen from the tech ara to
digitals to you know, people can't fly in airplace it
tech has been shut down. We take a look at
some consumer reports, if we take a look at the
macro view of the market on what's coming up with
the election, we really need to find some common ground,
get some good routes and stabilize and as a unit
come together to really look at all things that's going
on currently. And you know I talked to you last time, Carrie.
I mean we really have to look at these inflationary
numbers and interest rates because we need to see the
changes there and anytime we see that app cycle, part
of our focus process that actually is going to tie
that into when are we seeing the tax rates change then,
because we have to start filtering in and finding out
where the next SNK event change within the econrement.
Speaker 3: You know, I saw a video. Of course you won't
find it on the lane stream media, but there was
a breadline in Brooklyn that stretched for like a mile.
And these were not homeless people. These are working people
online there who literally, due to inflation, can't afford to
feed your family. And you know, we're probably a different
socioeconomic strata. We don't really see that in our day
to day, but that is what's happening around America large swaths.
So the average guy is waiting on this at a
soup kitchen where a bread line, doesn't really care that
the GDP grew two point eight percent and that consumer
spending was up two point three percent. Those are meaningless numbers. Yeah,
they are.
Speaker 1: Even in our small town. We live in a little
town called Freeland, Michigan, and our in our Freeland area
we have maybe eight thousand people here or so our
next town over in Midland. At one of their soup
kitchens they're serving, they were just letting us over a
couple of weeks ago, over five hundred individuals, and I
believe that that is what they're doing every day.
Speaker 3: And that's in a.
Speaker 1: Very small community. So these GDP numbers and things that
come out, we have to as a community start helping people,
you know, alongside people next to us. So sure, some
people are talking about investing, should we diversify, where should
we go there? But we need to actually be helping
people that are having a hard time with the inflationary numbers.
They're working, they have jobs, so it's hard for them
to provide for their family. So we need to be
talking about how can we help them gain and obtain
better healthcare? How is it going to be affordable for them,
and how can they actually really saying when they're just
having a hard time day to day, let alone look
at next month, the next year, next quarter for all,
you know, for all that.
Speaker 3: Means, hey, you know, they're destroying the middle class. The
middle class is being pushed down to the working tour.
And they didn't do anything wrong here. And look, the
inflation was all predictable. It started during COVID with all
the massive handouts, which maybe somewhat necessary, maybe not, Maybe
they could have been done in a lot better way
than they were. But then we got the Inflation Aggravation Act,
which has just put inflation on steroids. And nobody out
there is talking about fiscal sanity, about you know, corporate welfare,
about you know, endless wars. Nobody out there really who's
currently in power seems to care about these things that
really directly affect or indirectly affect. You might think war
is great until you go to the supermarket and you
see that you know, everything is up twenty percent and their.
Speaker 1: Other ends aren't keeping up that much. I mean, we
have seen within our income planning, we call it our
future income planning here we have seen with those interest
rate numbers right now, with current interest rates and the
short term doing so well, our income and bond alturtives
have done excellent. So some people that are already having
their pension like income because so many people don't have
a pension anymore. So some folks with their pension like income,
we have been able to make a transition for them,
give them some more income inside of their own investment
portfolio to just kind of help ease some of the
things you're talking about right Costing more even at the
fuel pump, costs more to travel. If anybody's looking to
you know, change homes right now or buying a different
housing market and need a loan, those interest rates are
relatively high currently. So it's just about design and setting
a plan and then how do you find good ways
to make sure things are affordable because it's tough for
the younger families.
Speaker 3: Uh.
Speaker 1: You know, husband and wife these days now both mean
to be providing for the family in most most situations.
And how are they going to you know, maintain and
get ahead. And we're going to see that. I think
we're going to continue to see this cycle in economy
right now, and then we'll see some future tax rates
because of what we saw in that trip off back
back from COVID. I fully agree.
Speaker 3: So, you know, increasing taxes with a recession coming up.
Maybe we've been in the recession and because of the
government spin doctors here, it hasn't been fully recognized. You
have to be a working class person to know that.
You know that old saying a difference between a recession
and the depression recessions when you're at a work, depressions
when I'm at of work.
Speaker 1: Yeah right, yeah, you and you have to. You can't
just read headline news. You also can just see these
numbers and percentages of that they oh everything is fine.
This is a bus guy. You have to have a
well developed plan, just as you know, we talk about
this with you quite a bit. So I think we
have could prepare for taxes. So even if folks can
say five ten dollars a week, even if that's what
they're saving for their future retirement plan, by all means,
I really want to make sure that that's in their
tax free account. Try not to spend things on your
credit cards that you don't have to, so that you
are not you know, forever in debt and to the
credit card carrier. And just making sure that we're looking
at all avenues of healthcare, what type of health care
is best for you, the costs. We like to make
sure that we're really helping cholks with that as well.
And then just don't ride the wave these of all
of your investment portfolio.
Speaker 3: Either.
Speaker 1: They need to diversify and then to be able to
take a look at don't assume too much risk or
too little. How do they diversify and work alongside someone
to help you with this so that you don't just
see the news, see the headlines and think, oh gosh,
they must be talking to someone else, because they're for
sure not talking to meat. And then they need to
engauge their own plan individually for their family. And then
the community involvement like we started with, I think is
the biggest key, right now biggest key.
Speaker 3: Okay, so is AI going to get us oide of
this mess?
Speaker 1: Like, hey, I'm not going to get outside of this mess.
And it's definitely made some great improvements of some of
the way that folks need new business. It's also taken
out some of that human component, which I I don't
care for. H So I do think with anything, we
don't want too much. Too much of any one thing
is not good. So I think in moderation it can
help us with some note taking, with some servix tools,
optimizing time. But we still need to make sure. You know,
I don't want to I don't want to sit a
prosper a roepot robot that's writing.
Speaker 3: Me a letter.
Speaker 1: I want to make sure that I'm talking to you.
Speaker 3: Yeah. Well, a while ago somebody was fired. He was
a driver for Amazon, and you know, and he said,
why what did I do wrong? Wasn't I producing? Nobody
could say, because a machine had evaluated his performance, and
I think it was a guy and just said you're out.
And it's like, how do you fight the machine? You know,
you think it's bad fighting the government. Try fighting AI,
which nobody even knows how it made its decision to
get rid of you in the first place.
Speaker 1: Correct, absolutely, And I want to make sure that we're
keeping jobs for individuals, right, it's going to definitely be
eliminating already have done so, and we'll see the spiraling
effect of that. So we just needed to be careful
of how much for action utilizing and leaning on that tool,
you know.
Speaker 3: And for the vast majority of people, like work isn't
just the means to a paycheck. It plays vital roles
self esteem, sense of accomplishment, socially your workers. Although now
that everybody works from their home office, maybe not so much,
but most people at most offices have reinstituted to people
personally attending at least for several days a week. Work
is like way more important than just economical certainly, its
value for the economy and the world. So in the meantime,
while all this is going on, China is like underwater
literally and nobody is taking this into account. You don't
see any news reports. I mean that place is literally
going through biblical floods here. That's got to have an
effect on things too, the supply chain and all that
good stuff, right, Mandy, for sure.
Speaker 1: Supply chain supplying demand, you know, they're doing. There's so
much the frontrunner of some of these items, we have
not seen anything. We've seen nothing on surplus or deficit,
no real news just coming out with that at all.
And really we've been trying to look at what they're doing.
And you know, especially in the market on mobile they're
nuclear developments and you see all this that's happening in
the floody and you hear no where we've seen nothing
of it.
Speaker 3: It's frightening. I saw like mile two mile wide rivers,
you know that were main streets of major cities with
hundreds of vehicles being washed out, floating like quorks in
a bathtub. Is I'm just never seen anything like it.
And we've all seen thanks to the media, we've seen
a zillion natural disasters before and never seen one any rivaling.
Speaker 1: This, and they should be talking of it. How can
we help, right, So, how do we divine the immunity,
create us together? We're all interactively changed and interconnected, and
so why are we not seeing what's happening. We're going
to see some international trade and deficits. We're also going
to see some different things within as well as investing overseas,
and you know that could help bring inter but we
need to be discloseding and talking about it and so
just having blinders over it.
Speaker 3: Yeah, well, obviously, uh decision has been made to make
an enemy out of China, and they're not getting any
help from the US until they beg for it, basically
because they've always refused international help in the past, and
they go into a denial ritual when anything bad happens there,
and then they blame it on the victims generally and
suppress all news of it. This is so big and
it's far reaching that that you know, the government's got
to be talking about this and really making it a
major issue here because it's going to have effects all
over the.
Speaker 1: World, oh everywhere, absolutely sure, and so they need to
decide what they're going to do, how they're going to
portray it. And it can mean a lot of different
variations of items and factors of that triple don effect,
depending on what's disclosed and how that we're looking to help.
Speaker 3: Hey, you know, even though there's a decoupling taking place,
there's still a lot of stuff that gets made in
China and a lot of stuff that we need, and
you know, and it is one world, whether we like
it or not. So even though our leaders would like
to split us, you know, we're like little marketing niches everybody.
They appeal to everybody their own little niche and ignore
the fact that we're part of a bigger hole. So
that is absolutely true. And you know, look the United
States and the history of helping all these nations in distress.
Whenever any disaster hits anywhere in the world, the US
is there in some form or fashion. So it shouldn't
be any different this time regardless. Put the politics aside,
put the ideology aside, and just do the right thing. Hey,
So when we have when we're looking at this economy
after the election, mindy, after all the damage has been done.
You know, we always say, you know, there's one guaranteed
loser in every election, and that is the American public. Right,
So where we going to be at come come November
after the whatever happens happens there.
Speaker 1: You know, I think consumers need to be a little
cautious because so many states are already feel that if
going to know who's going to be the new president elect,
and we need to continue to create the unity. I
just wish since someone run that actually is really well
deserving and so inheritibly ready to be in the country stream.
But who would want to who would want to have
that job?
Speaker 3: Exactly?
Speaker 1: That's the big thing. The ones that really can do
an amazing job with leading our country, they're not going
to come to the forefront, in my opinion, which is
what we really need. So the human population, like you said,
we all live in one you know, one USA and
one country, one global China. Everybodys to you know, we're
all put out of our here. If we can start
collaborating more than d shirt leading right together, it will
help to create a more better developed plan. So I
feel a little up at arms of what I think
will happen this. You know, this November and does talk
about you know, generally speaking, markets and returns and such
are super effective whether we see democratic or republican. But
you see things like this happen in China. Are we
going to create unity and help out or we get
to continuoency more nation divide on. That's all going to
be a trickle down factor as well. So we have
to create and develop a well sustained plan and be
writing to make some changes because we're going to see it.
Speaker 3: All right, Indy, Thank you so much for coming on.
Even as you're find Mindy at Wealthmichigan dot com. Got
a question to comment from Mindy or myself should be
an email k L at Carrie lets dot com. The
link is in the show notes this interview on Financial
Survival Network dot com. Please sign up for your free newsletter, Mindy,
always a pleasure, Thanks for stopping by.
Speaker 2: Thank you, thanks for listening to Carrie Let's'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