The Hidden Recession: Credit Cards, Gig Work, and the Illusion of Growth
Ken McElroy Show
Ken McElroy
4.8 • 692 Ratings
🗓️ 18 July 2025
⏱️ 33 minutes
🧾️ Download transcript
Summary
Join Ken and Danille at the Limitless Expo Conference in Dallas this July. Get tickets at this link and use the code "Ken10" to get 10% off your ticket: https://limitlessexpo.com/
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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 | Everyone keeps saying that we're in a strong economy, but there is what they are saying versus real life. |
| 0:06.2 | And we're going to dive into that. |
| 0:07.8 | So the job numbers came out last week. |
| 0:10.8 | I know. |
| 0:11.3 | What do you think? |
| 0:12.4 | Well, it appears it's a pretty strong economy, but, you know. |
| 0:16.4 | Sure doesn't feel that way. |
| 0:17.5 | I know. |
| 0:18.1 | It's like strong economy versus real life. |
| 0:20.2 | Well, I wonder, |
| 0:21.5 | I always wonder, you know, seeing those unemployment numbers, I think the big wildcard is going to |
| 0:26.2 | be this AI, right? There's so much AI stuff happening right now. Like I met with a young man yesterday |
| 0:32.8 | that's on the AI team from Microsoft. And he said he had a big pitch this week to 1,100, |
| 0:41.0 | can you imagine this number, 1,100 content writers, right, at Microsoft? |
| 0:45.4 | And I'm like, I said to him, I go, |
| 0:46.8 | how many of those are going to be in business? |
| 0:49.2 | Like literally, how many content writers are you actually going to need at Microsoft later? |
| 0:54.1 | And he's like, not that many, right? |
| 0:56.2 | So it's just interesting to me, these unemployment numbers, I think they're going to continue to creep up. |
| 1:02.9 | And I think it's going to be for different reasons. |
| 1:04.9 | Well, but we keep thinking that, right? |
| 1:07.0 | And then right now we're at 4%, which is historically low. |
... |
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