Is This Proof We Are Actually In A Recession
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 22 April 2024
⏱️ 38 minutes
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Summary
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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.
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Transcript
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| 0:00.0 | Welcome to the Real Estate Strategies podcast. Let's get right into this episode. |
| 0:04.9 | So are we in a silent recession is the question. Yes, of course we are. Of course, |
| 0:11.1 | where everybody knows we are in a recession. That is a fact. That says me off because of the |
| 0:17.2 | definition of a recession. You know, I went down this rabbit hole like a lot of you, |
| 0:21.9 | you know, what is, what is the recession? Because I think there's, there's, there's two |
| 0:25.4 | different things going on. There's the government and then there's the private sector. And we'll |
| 0:31.9 | get into that a little bit later, but the, the government's for sure propping up, what I would consider |
| 0:36.7 | a private, a private sector recession. |
| 0:40.7 | But I do have to, you know, laugh because, you know, you can see the headlines right now that, you know, it's the strongest economy ever. |
| 0:49.5 | And Biden's economy is amazing. And it's just not necessarily, you know, the case. |
| 0:57.3 | Well, let's look at those. Yep, there you go. So added, now here's the interesting thing about the GDP. |
| 1:04.9 | As you guys know, a recession technically is two negative quarters of GDP. |
| 1:11.2 | So that's what this is. |
| 1:13.1 | And so, Jerry, go back real quick to that other. |
| 1:16.3 | So let's take a look at the, obviously, these headlines are important. |
| 1:20.8 | What you guys may or may not know is that most of these headlines, they get revised. |
| 1:26.9 | These are estimates, and especially unemployment. |
| 1:30.6 | Unemployment has been revised a lot. |
| 1:34.3 | In fact, I think 11 of the last 15th forecasts have been revised. |
| 1:40.3 | So, in other words, they come out with an estimate, which is almost always higher than the revision. |
| 1:47.4 | So a lot of this stuff, when you guys see it, it's okay. |
| 1:52.1 | It's the system that we're in, but just understand that most of these quarters are estimates, right? |
... |
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