305: How To Survive A Horrific Economic Contraction with Anna Myers
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 10 August 2020
⏱️ 35 minutes
🧾️ Download transcript
Summary
GDP fell 33% annually, the unemployment rate is high, and even the Tokyo Olympics have been postponed, all pandemic-driven.
Housing continues to hold up well. Nearly all assets are - gold, stocks, crypto, and some commodities. This is partly due to a weaker dollar.
The gap between "haves" and "have nots" widens in the pandemic.
15-year mortgage rates fell below 2%.
VP of Grocapitus, Anna Myers joins us to discuss real estate trends, market analysis, and where to invest for economic survival.
Neither she nor I see a "V-shaped recovery". I've been saying this for five months.
Anna & I discuss real estate's winners and losers in the pandemic.
With more people having shakier job situations, fewer qualify for loans. This increases the renter pool.
Winners: smaller cities, suburbs, e-commerce, tech, warehouses, places like Salt Lake City, Raleigh-Durham, Memphis
Losers: high density places, hospitality, medical, oil, long-term college.
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Transcript
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| 0:00.0 | Welcome to Get Rich Education. I'm your host Keith Winehold. How do you survive the horrific, |
| 0:06.0 | pandemic-driven economic malaise? As both a consumer and an investor, are we at the bottom or not? What are the darkest and the worst-hit areas? |
| 0:16.0 | And where can we find some light today on get rich education fortunately for you congress has made |
| 0:24.0 | it possible to get up to two hundred thousand dollars out of your current 401k or tsp to invest |
| 0:29.7 | in real estate or your own business and that's even if you're still working the thing is you can |
| 0:34.9 | get all this money tax free the EQRP is your secret weapon. |
| 0:40.4 | With the CARES Act expiring soon, the EQRP company helps you unleash your retirement funds now. |
| 0:45.9 | Learn more in text message QRP in all capital letters to 72,000. |
| 0:54.3 | You're listening to the show that has created more financial freedom than nearly any show in the world. |
| 1:01.6 | This is Get Rich Education. |
| 1:06.1 | Music. Welcome to GRE from JFK to LAX and across 180 nations worldwide. |
| 1:22.6 | I'm Keith Weinhold. |
| 1:24.6 | This is GetRish Education. |
| 1:25.6 | You surely know by now that American productivity, as measured by GDP, fell with a resounding thud. At an annualized minus 33% last quarter, it is a jaw dropper. And how much of a jaw dropper is it? Do you realize that this is the sharpest |
| 1:47.0 | contraction in modern American history greater than the 1930s Great Depression? What a horrific |
| 1:55.3 | economic bottoming, I guess, because are we really at the bottom? A less scary figure is that quarter two |
| 2:04.0 | output was about 10% lower than quarter one output. Okay, and yeah, what kind of world are we |
| 2:10.3 | living in that I present that right there as better news? And it's not just us. The Tokyo |
| 2:17.3 | Summer Olympics have been postponed to next year, |
| 2:20.0 | and it's quite possible that they'll never happen. European Economic Powerhouse, Germany |
| 2:24.9 | reported a 10% quarterly drop in GDP as well. What do our leaders say? Well, there's one particular leader |
| 2:33.0 | that I don't know that's always led us in the |
... |
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