Sign Massachusetts Banking Living Will Fast

Industry sign banking massachusetts living will fast

hey what's up you guys john here in this video i'm going to give you guys a quick economic update it's going to be a facts only video just right to the numbers of what's going on economically american airlines just laid off 25 000 employees spirit airlines doing massive layoffs company that owns mercedes-benz is doing a substantial layoff as well as wells fargo linkedin jcpenney as well as a million other companies and we're going to run through the numbers really quickly and at the end i'm going to give you a forecast what i think is going to happen in the next three to six months please smash that like button drop in the comments below your opinion what you think is going to happen if you're a new subscriber drop in the comment section i'm a new subscriber i'll personally welcome the channel alright guys let's begin so referencing this article says in just 18 weeks nearly 53 million americans have filed for unemployment insurance that's more than the number of claims filed during the great recession so let's put that into perspective the population in america is 325 million 53 million is essentially one in six people and that's so far one in six people all right quick update for airlines i want to start with outlands first simply because it has a great impact on our economy the import export with jobs with just income coming in and out from overseas travel tourism and everything in between so let's first start off with american airlines on july 15 american airlines said that it will soon lay off 25 000 workers including 9 950 flight attendants and 2 500 pilots that cut represents almost 20 percent of the company southwest airlines instead of involuntary layoffs southwest airlines offered to extend leave and exit packages as of july 20th 20 percent of the workforce mostly pilots and flight attendants have accepted such deals united on july 8th united airlines said it would issue layoffs and furlough notices to 36 000 employees more than a third of its entire workforce including 15 000 flight attendants and 2250 pilots spirit airlines warns it may lay off a third of its workers this loss is going to be directly pushed onto the consumer because there's going to be less seats available with these new restrictions that are now being pushed on these companies for safety measures and that being said the price to travel is going to skyrocket we've been spoiled the last few years we'd have apps like skip lag and these other apps where we could travel from new york to los angeles or 200 well that game i believe is soon going to be over and it's not going to just stop with airlines there's many other industries that are going to be greatly impacted and i'm going to cover them now mercedes-benz is owned by a company named dahlmer and that company has 150 000 employees exclusively for mercedes and they're scheduled now to release 50 000 of these employees as of july 14th pvh corp which owns calvin klein and tommy hilfinger is scheduled to close 162 stores as well as release 12 of their entire workforce wells fargo has 263 000 employees and they're scheduled to release thousands of employees very shortly they have not specified the exact number taylor brands which owns men's warehouse is scheduled to close 500 stores and release 20 of their global workforce as of this week july 21st linkedin said they're going to release 960 jobs or six percent of their entire workforce what we're also noticing right now is that getting delivery take out food restaurant food that has been the same prices have not moved at all however when we go food shopping we want to eat healthy and get in a clear state of mind maybe go to whole foods wherever we go food shop we notice that prices are increasing and why is that because food supply chains are breaking they've been breaking since march and there's less and less food available for the everyday consumer so we have to take this into consideration prices are going to continue to increase i believe every single month until we get out of this some economists estimate 80 million people will be out of work by the end of the year and the prediction is nearly half of these employees will be out of work permanently so right now the heels act is doing nothing basically nothing for the students that took out college loans and you know when we all grew up we were told that if you don't go to college you're going to have a very hard time in this world well interestingly enough now the college degree is fading rapidly in value and it seems like most of the people that are making money are not doing it at the everyday nine to five job so all that information actually is quite positive we're seeing a completely new way of doing business unfold in front of us and if we look at some of the smartest and most successful business people in the world we have sam zell we have elon musk jeff bezos peter thiel all these billionaires what do they all have in common is that they see a trend and they capitalize on that trend before the masses see that trend right now we're seeing retail dying retail is going out the window it's been dying for a long time and it's officially dead now and we're also seeing airlines going bust a lot of them are just getting absolutely crushed by these new safety regulations we're seeing many businesses go online and what i'm seeing now is colleges colleges are getting impacted in a way that they've never been impacted and we're seeing students taking zoom classes they're spending fifty thousand dollars a year to go to a four year university to take a class on a phone that is not going to last i think we're going to see a lot of people very upset about this because you spend that kind of money you want that social network you want to build relationships and you want to really have something that lasts much longer than your college stint and that's i think going to increase the likelihood of additional student loan defaults people unable to make good on those loans that are gonna i think default we're gonna see a lot of that happen in the next 12 to 18 months i would bet another thing that i see happening is credit card defaults we have four trillion dollars in u.s credit card debt right now and we have all of those businesses that are getting impacted in a negative way and that's just employees right now we have 30 million 700 000 small businesses in america and a lot of those businesses are deemed non-essential so you have all of these businesses that are going to be greatly impacted you have credit cards getting hit you have student loans that are going to be getting hit we look at how fast rents have been rising for the last many decades and just in the last decade we have rents nearly doubling yet the federal minimum wage remain the same the question i ask myself is can rents continue to rise at this pace which area is going to be impacted the most and which direction is real estate going because if you can have that clear visualization of where the market's going and make decisions accordingly i think you're going to do quite well and that's what i see i see big changes happening to real estate but this is all great news this is all really good news because this provides us an opportunity to make a fortune in real estate investing and that's where you really want to make your money we see all these businesses changing the one thing that's never going to change is the roof over our head shelter that will never ever change and if you have that one really good deal it's going to impact your life forever right now you have there's so many landlords that are collecting rent that are on section 8 and they're getting paid by the government and they're just laughing right to the bank and relaxing this is like a vacation for them and there's other landlords that don't know what they're doing and they're 70 percent loan to value on these properties and they have tenants that are unable to make good on their rents and they're sweating their butt off and there's just going to be a huge influx of foreclosures and defaults that are happening and just a lot of change we're going to see just a world of change happening and that's why right now i'm not going to be investing because we haven't realized this change yet we're still living in this fantasy land where you know where the economy was perfect and where everything was great but right now we're just living in a world of stimulus government printing money and unemployment and everything is seems as if almost nothing has happened but we give it time we give it time we'll realize the truth and capitalize on that great opportunity but this is definitely a good time to start gaining that education in real estate this is the time i've been in real estate 12 years and it's taken a while to really understand exactly what i was doing and have that game plan and i believe we're going to have that small window of opportunity just a small window of opportunity to run out and buy one deal or two deals or three deals before the market starts to correct and if you know what you're doing and you buy that one right deal you have a completely different life point blank a completely different life but if you don't you run out there and you buy the wrong deal and you're stuck carrying this wrong deal you're going to you're going to most likely never forgive yourself because you'll say wow i could have really bought this and i could have made so much more money and my life would have looked so much different and that's the key so i would i would recommend for you to study real estate learn as much as you possibly can about real estate build out a business plan and look around at the people around you and see who's doing well and who's not doing well you'll see that a good chunk of the people that are doing well are people that are just smart investors that were conservative with their money they lived within their means they weren't trying to be flashy and uh and overextend themselves so there's a lot of great lessons happening right now it's a great time to be alive it's an incredible time to be alive and yeah invest wisely study learn make smart decisions and you'll set yourself up and your family up for the rest of your life thank you so much for watching smash that like button drop your comments below and subscribe if you're a new subscriber drop in the comment section i'm a new subscriber i'll personally welcome the channel and i also have a mentorship program link in my description alright guys until next time