Speaker 1: You know, I don't feel like we're really seeing from
consumer economy. I don't feel like we've seen the rebound
that they're.
Speaker 2: Saying spending I don't see is up.
Speaker 1: Still, We're still seeing personal consumption being kind of in
a troublesome area. And you know, I really think that
we need to look at where are we seeing these jobs.
I'm not exactly sure where we've seen the creation of that.
I'm not sure to your viewpoint on that, Carrie.
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Speaker 4: And welcome you are listening to and watching the Financial
Survival Network. I'm your host, Carrie leutz.
Speaker 5: Well.
Speaker 4: We got some GDP number is out for September, and
Indy Macintosh is with us now to help review and
make sense of these numbers. It sounds like things are
really going great. I hope they're going as good for you,
Indy as the GDP number would indicate well.
Speaker 1: It sure making it look like these numbers are healthy
when we take a look at three percent. But in
you know, the Bureau had released that that's our final
update that we've had currently and the rising annually three
percent pace kind of shaking up from a shapy one
point four percent growth in quarter one. You know, I
don't feel like we're really seeing from consumer economy. I
don't feel like we've seen the rebound that they're.
Speaker 2: Saying spending I don't see is up still.
Speaker 1: We're still seeing personal consumption being kind of in a
troublesome area. And you know, I really think that we
need to look at where are we seeing these jobs.
I'm not exactly be sure where we've seen the creation
of that. I'm not sure to your viewpoint on that.
Speaker 4: Carrie, Yeah, that's a good question. You know, this would
be this type of growth number. You know, well, they
redefined what a recession was, right because we used to
define it as two consecutive quarters of negative GDP growth.
Then we got a number that they miscounted the jobs.
There were actually eight hundred and eighteen thousand phantom jobs.
And now you know this, I mean, do they have
any credibility left here. I mean, the market's going up.
It seems like happy days are here again. I'd like
to start playing that song again. But it's just all
seems to be smoking mirrors.
Speaker 1: Well that's why I always say, you know, it's a
big question right now where our consumers A lot of
folks that we're doing. What they're wondering, is inflation and
such really declining? Are things becoming more and even kel
what's happening in the job market? And I really say,
you know, maybe not. And you just kind of brought
it up a little bit. When we remove energy prices,
inflation is still above three percent. If we take out food, energy,
and even housing, it's about four and a half. So
how are we giving the dollar direction and or redirection?
I mean, yeah, and you're right, stops are doing what
they should be doing. Bonds are still programs. We're using
a lot of bond alternatives for our client folks to
make sure that we're still hedging some changes. But you know,
unemployment rates, we shouldn't see them decrease with that FED cut.
But because I think that the FEDS did make that
half of a basis point cut as well, because we
want to make sure we don't get more recession territory.
But our perspective really is, you know, a lot about
taking a look at overall picture of what we're asking
our clients with interest rates and unemployment and so historically
and economic trends from past residential cycles. Even in elections.
It's you know, obviously impossible to predict our exact economic implications,
but I am so concerned with our with the people
and the consumers that we're seeing in our office day
in and day out, what's going to happen with post
election cycles, and really what our theory is behind that.
So we really have to hone in on the fundamentals
and make sure we're not doing too much of a
political basis is here. We want to make sure that
we're being irrelevant in the portfolios and the things that
we're seeing folks do on a day to day basis.
Speaker 5: Right.
Speaker 4: Yeah, So you know, and then you look and you
see the dollars declining. You see gold prices hitting at
our near all time highs twenty going to twenty seven
hundred imminently, so it would appear silver is at thirty
two dollars the ounce, and you know, you got to
wonder are we missing something. Even copper, which had been
kind of moribund but it's still was trading in the
four dollar range. Copper is at four and a half
bucks now back up to five. So where does all
this leave us here with a feeling like we're not
really seeing the whole picture from these government numbers right
Even oil prices starting to head up now again. And
is this just the election field distortion of reality that's
taking place, or is there.
Speaker 5: Something deeper going on here?
Speaker 2: Mandy Well, I think sometimes we have to.
Speaker 1: Look out for avoiding emotional and or political motivated investment
decisions right now. But what we're even seeing from our
clients is that there's been in market volatility and we're
seeing folks more flame to what they call the tangibles
or they want more outside diversifications. We're seeing that happen.
So I think that's why we're seeing the gold and
the silver. I think that we're seeing it in higher usage.
There's more demand on that currently as people are more
nervous and uneasy about the market. We're also seeing on
the flip side and more folks are heavy in cash
right now too, And I think that you know that's
they're just unsure of what's going to happen with political
you know views, what they've even seen Wall launched the debate.
So that's over the long term. It's really our job
here in our firms. We're trying to help folks for
pere and establish for a nice retirement, and so we
want to make sure they're not too heavy in cash.
We do want to have some of those outside tangibles
and diversification, but really guiding through you know, guiding our
focus as much as possible through the political noise, which
some of that I think you're alluding to here, Carrie
is just you know, we have to be okay with
you know, democratic versus Republicans, you know, even ideally when
we take a look over the past fifty years, the
digital age is much more increasing right now, we have
adi to think about. We have a lot of things
driving differences right now that we take a look at,
so shifting an incentives for I'll let social media platforms.
Audiences are getting more bias, so what they're feeling, I
think about trends in the market and popularization of different ideas.
So with our process, we just aim to make sure
that our client folks and their experience can lead to
clarity just to get sometimes of just the buzz of
the headlines out out of what they're actually reading and
let's get down to the basics of what's really happening.
Speaker 4: Hey, you're in Michigan, so I'm sure you remember this slogan.
I mean that it was US economic policy probably for
fifty sixty years, and that is what's good for GM
is good for the US. Is it hard to change
that and say what's good for Tesla is good for
the US?
Speaker 1: Oh? I feel like you do see that everywhere, right,
even in any of the morning feeds that I read.
We see it everywhere. And what are they trying to
get involved with with now? And how is he continuing
to make a staple sub Yeah, I mean before it
was GM. I live in Michigan, not far from like
some of the big plants in Flint, Michigan. Here, it's
just only about an hour away. And we also need
to make sure that even folks that are looking to
have Tesla in their portfolio, are we too happily laid
weighted there? And then what are the tax of the locations,
especially if you're in a bull fight accounts, it's a
whole nother discussion. But when we take a look at
the world right now, what we're paying for taxes, We
have huge legislative risk right now, and what are our
taxes actually are going to be in the future. That
can go nowhere but up. So I think that, you know,
rather than getting tripped up on too many individual pieces,
we need to make sure that we're urging our folks
to answer questions like long term goals even right, So
instead of lookating today Tesla AI, how man they get
involved in the new great thing? More, it's what are
financial rules? When do they need to reach them? You know,
how much risk can folks really tolerate? Do they need
the growth that they're speculating their thinking they want or
are they already kind of won the game at work
and now we need to do a great income and
withdrawal strategy from them? So these are all things were safe.
Speaker 5: I get it, they get it, they get it.
Speaker 4: Maybe what's good for Tesla is good for the world,
but not necessarily the stock market and your retirement right right? Absolutely,
all right, So emerging trends here, I think we're going
to see a shift in as far as the leading
sectors in the market. A are we kind of going
through a transformation here? What is your take on it?
Speaker 1: I really think we're still going to see with what's
happening with AI tech that all those platforms I think
are going to continue to be successful and do well.
I do think one area we should look out for, though,
is more nuclear power in the future, especially with what
we're seeing overseas clean energy. I really think as a
being viewpointed on a lot of of sectors, so I
think we can look out for that. I always always
want to continue to maintain looking at some of our
staples like healthcare as well, So those would be some
of my key fundamentals. Where are stabilizers, what are sort
of things that should be steady Eddy? And then what
is still the newer hib But I'm like, sure, you know,
we had the Apples and Amazons and Microsoft to the world,
but it's really that tack AI that I continue to
feel like we're gonna seating that in the forefront of
some big things still for the for the next year plus.
Speaker 5: Okay, all right, I'll buy that.
Speaker 4: And finally, when we have this conversation in a year,
is economy going to be booming the same or lower.
Speaker 1: I think that that has a lot to keep your
November an election. You know, I'm a very optimistic person.
I want to say that it's gring to be dreaming,
but I have my own reservations. But I have deeper
reservations than just a year from now. My reservationsly a
lot more in I feel like legislative intact rinks in
the future, like for what are you know my oldest
daughter is fifteen years old that I really really am
concerned about the future for our youth. But a year
from mental, I think that there's a lot more to
see what happens in election time. But also even some
of these numbers that just come out Garry I I'm
not I'm not feeling it.
Speaker 4: Yeah, well, you know, so this is going to make
a joke. You're talking about kids, but you have young kids.
I'll love refrain from the joke. My kids are My
kids are grown. It's their problem. I don't care anymore.
That's kind of where I'm at with it. It's like,
I'm just going to enjoy my life and hopefully my
my money will outlast me. But you never know about
these things, right, And that's I'm sure the biggest question.
Speaker 1: Yeah, it's it's and I agree with you, Carrie. You
never know. It's the biggest quest that our actual clients
ask us, And do I have enough money? Am I
going to be okay? With healthcare costs and things happening
in the world. Am I going to have enough income
to sustain my twenty five or thirty years of retirement?
Because with advancements in health so we have to have
more diversification. But some are like keep carry. They're like, hey,
the day but you would say the day you pass away,
if all of your counser are to zero, you one.
Speaker 5: That is it? Well?
Speaker 4: Well, I mean the one thing I learned kind of
twenty years ago is never retire semi retire right us,
as you can do things, bring in enough cash flow
that'll keep you happy as long as you can, and
then when you can't, the money.
Speaker 5: Isn't going to matter anymore anyway. So that's kind of
my day active too.
Speaker 1: If we stay active, can bault and keep our brain
power going and keep our bodies moving. I say that
less things happen to us, we can do we do
continue to maintain better by staying active. So I fleeve
with you, Carrie, keep on doing something that you enjoy.
Speaker 4: Mentally active, physically active, because you'll just have a better
quality of life and financially active. Appreciate you coming on
as always, Mindy. Just tell us where we find you.
How do we connect with you on the web.
Speaker 1: Sure, thanks, Kerry, appreciate it. You can find us at
Walthmichigan dot com or by all means anytime you reach
out there. We do actually have some reports informational educational
session set up, but that's Wealth Michigan dot com writing
the best way to locate our Macintosh and Associates firm
and find out about more information and how we can help.
Speaker 4: Excellent and looking at your window there, it looks like
winter is coming, although you heard it's pretty warm up
in Michigan right now.
Speaker 1: But it's been great. You know, we've had some ball
mornings now for sure, and it's getting dark earlier, but
we still have some great weather and it's been good
for our our outdoor sports seasons as for sure.
Speaker 4: Hey, well, we only have two seasons here in Florida.
I'd like to say hot and hotter, So right now
we're getting done with hotter and we're going into hot,
which is fine with me.
Speaker 5: So we'll talk to you again soon.
Speaker 4: Hey, you've got a question from Mindy or myself kl
at Carrie Lutz dot com. That's the email address 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, please sign up for your free newsletter Mindy.
Always a pleasure. Thanks so much for stopping by.
Speaker 3: Thanks Karen, thanks for listening to Carrie Letz's Financial Survival Network,
your solution to today's trying times. For the latest, go
to Financial Survivalnetwork dot com. Financial Survival Network
Speaker 1: Now more than ever,