Transcription
All right, y'all. I think it's fair to say that the US economy at this point is beyond cooked. We are getting horrible, horrible warning signs. Day after day, they are piling up one on top of the other. Let's start with this one. Let's start with this one.
91% of fund managers believe US stocks are overvalued. That's the most in history. The most in history. 91%. In other words, let me put this into layman's terms for you. We're in a bubble. We're in a bubble. That bubble's going to burst. When that bubble bursts, oh my goodness, is the pain going to be widespread because, think about it, the giant bubble that we're in, a lot of the heavy lifting is being done by these uh these tech stocks, the because of the AI boom, right? But, you know, as we're already seeing, we're beginning to see the air come out of that bubble a little bit because people are beginning to realize, well, hold on now. It seems like people overpromised with AI, underdelivered for AI, and China's already ahead of us anyway. And now you get these horror stories of like people becoming psychopaths because AI convinced them that they're some sort of mega genius. We're already seeing a number a number number of those dystopian stories like they come from some [ __ ] sci-fi novel or some [ __ ] So not good. Not good to say the least.
All right, let's keep going. I'll give you more people googling help for mortgage. Help for mortgage. It has now surpassed 2008. It has now surpassed 2008. That should terrify you because in 2008 we had this little thing called the subprime mortgage crisis and the great recession. The housing market collapsed is what that was. Now even more people are are googling help with mortgage. We are building on quicksand y'all. That's what's happening.
More foreign central banks now own more gold than US treasuries for the first time in 30 years. 30 years. So, this alludes to what I've told you guys about that because the US is giving the middle finger to our allies and saying [ __ ] off to the world. What's happening is they're going, "Okay, you know what? Now, if there's an economic downturn, the flight to safety is no longer going to be to the dollar because the dollar is not stable. The dollar is not secure. The US isn't the the world's leading power anymore. Now, the flight to safety is to gold. People are buying gold instead of dollars." In the in 2008 when we had the great recession, the dollar got stronger. Why? Because the flight to safety was to the dollar. Now the flight to safety is to gold. And this is further evidence of it here that now central banks own more gold than US treasuries. And that's only going to get worse and worse and worse.
All right. More gold has hit an all-time high. An all-time high. Ladies and gentlemen, that's another indicator of a recession or a depression coming. Gold strengthens when there's a recession or a depression. Precious metals strengthen in those times. And it's the opposite. In a boom market, they're they're worth less. Florida home prices are falling for the first time since 2008. 2008.
This is what it looks like when a guy who bankrupted casinos says his economic policies will quote lower grocery prices on day one. Ready for this? Roasted coffee. The inflation roasted coffee 21.7%. Beef steaks 16.6%. Eggs 10.9%, apples 9.6%, candy and chewing gum is 8.1%, bacon 7.2%. Frozen non-carbonated juices and drinks 7.1%, frozen fish and seafood 6.7%. Bananas 6.6%. This is what we're looking at. This is the inflation that we're looking at. This is not something that workingass families can deal with. In the US, we've always had pretty bad inflation when it comes to the staples of life. When it comes to health care, health insurance, for example, we had a lot of inflation there. Housing, we had a lot of inflation there. But the trade-off for that was like, okay, you get cheap consumer goods and cheap food. Well, now that's going away because of the trade war, because of the tariffs. And so what do you do in a scenario where all the other stuff that was expensive is still expensive and getting more expensive, but now you don't get the cheap consumer goods and you don't get the cheap food anymore.
Trump says public companies should not have to report quarterly results. Why is he saying this? Why is he doing this? Because he knows those numbers would be a [ __ ] horror show. So in the same way he brought in a guy for Bureau of Labor Statistics to [ __ ] and lie and say, "Oh, we had a lot of job creation when we don't." The same way he brought in a political hack for that, now he's saying, "What if we reported the numbers less? Let's release them less often. We don't need to release them as much as we do." Why? Because he knows they would be [ __ ] terrible. He knows that.
New homes for sale, and this is in uh the south of the US. Ready? This person says, "You're right. We aren't in 2008. It's worse." So now there are more homes for sale in the south than in during the uh the subprime mortgage crisis and the Great Recession. Student loans 90 plus days delinquent have exploded higher to heights never seen before. So remember because of COVID we have the temporary pause of having to pay back the student loans. Trump extended that. Biden came in and extended that. Biden tried to do a more wide-ranging student loan uh reduction program, right? He tried to wipe it out a lot of different ways. Credit to him for that. But some of them were allowed, other ways were blocked by the courts. And then Trump comes in and Trump says, "No, no more student loan debt relief and we're going to unpause it and we're going to try to make it go back to the higher rates. You if anything, you have to pay more than you did before." Well, you did that and people don't have they're either unemployed or undermployed and the economy sucks and he's making it worse with his dumbass trade war and his dumbass tax policies. And now boom, the delinquency rate [ __ ] shot up. What a surprise.
US housing market has reached its most unaffordable level in history. More homes available, but they're all out of reach. Ready for this? In 1995, the top 10% accounted for 33% of consumer spending. In 2025, the top 10% are now 50% of consumer spending. Let me explain that in layman's terms. Only the [ __ ] rich can afford [ __ ] Only the rich can afford anything. Now, the top 10% make up 50% of consumer spending. means everybody else, the bottom 90% are penny pinching because they don't have any money. They can't buy consumer goods anymore. They're struggling. This [ __ ] is all going to go belly up. And it's going to go belly up very, very quickly. Very quickly.
And um you know, if you watch this show, you knew this was coming for a while, but Trump really poured gasoline on the fire in a way that is [ __ ] borderline criminal. I I've made this point before, but if he was a manurian candidate trying to destroy the country, it he would act no differently than he is, right? So whether he's just a total [ __ ] idiot and a buffoon or he's actively trying to take down this country from within, the decisions he's making are the same. They're one and the same. And now, so we are going to experience pain the likes of which people haven't experienced in a long time. And everything about this country, everything about this economy is totally and completely out of whack. And that's why, by the way, you see political extremism ticking up across the board. You see um, you know, bipartisanship tanking, polarization increasing, right? Political violence now starting. And it it could get even worse because we live in a country where the bottom 80% of Americans only hold 7% of the wealth. When there's such extreme examples of halves and have nots, that's going to lead to a whole bunch of other problems. There was that Rand study which said that the top 1% stole $50 trillion from the bottom 90% since 1974. And I believe they updated that study and now it's like over 80 $80 trillion that's been stolen. That was the one I'm citing you was from like 5 years ago. It's gotten way worse since then. It's gotten way worse. So there's we got a lot of problems, man. We got a lot of problems.
And um the scariest part is when the [ __ ] does hit the fan, they are more likely to just try to pretend that's not the case. Any other president, Democrat or Republican, when there's a massive economic downturn, what they would do is drop everything else and focus on getting the economy back on track and they would be sincerely trying to solve the problem. Even if they do it in a way where I wouldn't agree with it, they're on top of it, right? What's very likely to happen when the [ __ ] hits the fan here is Trump to just pretend like that's not the case. Just lie about it. Say it's fake news, right? Which means the problems will get worse and worse and worse. And if he ever does have to address it, he'll like blame the Democrats and he'll double down on his shitty policies and do more tariffs and do more tax cuts for the rich and screw over working people more. Again, I don't want to be hyperbolic here, but this is what it looks like to live in hell.
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