5 • 683 Ratings
🗓️ 27 March 2023
⏱️ 12 minutes
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0:00.0 | What's up, guys? It is your host, as always, Brian Lubin. And today I am hopping right up on my |
0:06.9 | soapbox and I'm going to preach the gospel for you on this Monday morning. I don't know if you |
0:11.8 | guys have realized this by now, but the recession that we keep talking about that's right around |
0:16.1 | the corner, it's here. It is right here. It is staring us in the face. We are right smack dab in the middle of it. |
0:22.7 | If we are a plane flying in the sky, we are going through the storm cloud right now. Everything is kind of on fire. |
0:30.1 | And right now we're the meme of the dog that's sitting holding the coffee mug. Like, everything is fine. |
0:34.1 | This is fine. While everything in the room burns. That is us right now. So I'm done with |
0:39.6 | the sunshine, rainbows, butterflies, no, let's get to the real details and gravity of our situation right now. |
0:45.0 | We are getting punched, left and right, up and down, getting freaking haymakers thrown at us |
0:50.2 | by the U.S. economy. Right now, the Fed last Wednesday, just raised the interest rate up another 25 |
0:56.1 | basis points. So that took us from 0% in 2022, now to 4.75%. So they're digging their heels even |
1:04.6 | harder in their stance on trying to fight inflation, which right now I understand because |
1:09.2 | inflation is kicking the ass to the middle class. |
1:12.3 | All right? So essentially, we have a perfect storm. On one side of the coin, you have inflation, |
1:17.2 | which is absolutely decimating the bottom 50% of the population. The grocery is more expensive. |
1:22.0 | Gas is more expensive. People that are looking to buy their first home, their first property, |
1:26.2 | that's too expensive with these interest rates. Now they can't afford to move into a home. And on the flip side of the |
1:31.0 | equation, you have the Fed screwing the banks to where now the banks are starting to crack and starting |
1:36.0 | to splinter because of how they're adjusting these interest rates. And that's what happened with Silicon |
1:39.7 | Valley Bank. We've had hundreds of thousands of layoffs all across the country, especially in the tech space because they realized that 30% of their freaking workforce was useless. Like the positions did not |
1:49.5 | matter. The nine to five jobs, the salaries, the benefits, everything, the insurance premiums, |
1:54.7 | they did not matter. They weren't needed. They could be automated. So they just got to let go |
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