The ‘Mother Of All Crashes’...

Hey it’s Tom and, this recession is going to be unlike any other we've seen, assuming it doesn't turn into a global depression. Now, Benjamin Franklin once said, “By failing to prepare, you are preparing to fail” – so instead of ignoring it or hoping it away, let’s see how we can prepare for what’s coming so we survive it and come out on top.

00:00 intro
00:34 Recession Likelihood
03:33 GDP Paradox
06:06 Personal Finance Strategy
06:29 Investment Strategy

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[emerica]

It probably sucks to lose that cash flow, but God damn i am ecstatic about not hearing an ad from FTX anymore.

[sustainabilitytheory]

We have a feedback loop going on. Housing/rental shortage leading to more shared housing, which lowers monthly expenses for the individual/ family. Fewer people need to work a 2nd part time job, lower workforce participation rate/worker shortage is keeping the pressure on employers. Wages go up, inflation goes up, expenses go up. Shortages may stop at that level of demand destruction which will then level out inflation maybe 5 years from now.

[Unitedflyier]

Economics was one of my favorite subjects at college. I think everyone should be taught a basic understanding of supply and demand compounded interest and how to grow personal wealth. I have been poor most of my life. Now I'm not but I still spend like I am. Learning how to get by on so little has made me wealthy. No debt is the key.

[Sir-Worthington]

Tom keep covering macro economics. Other Youtubers just talk about where ever is the trendy topic of the week.

[superdaveinca]

Tourism and hospitality related jobs are usually the first to be hit during a recession. However, people are fed up with Covid, economy stress, etc. and are going on trips to enjoy themselves and get a break. I believe this is why unemployment is completely misleading right now and once the summer break is over, it will crash hard.

[IrishManUnitedFan]

The coming recession is basically already priced in so we are close to the bottom, give or take abit.
IMO the bottom was mid May. Going higher from now on

[JoseRamirez-vbsk]

I did my part today to help the economy. Bought 3 kindle books and a subscription to only fans. 🥳

[ZoeyR]

The failure is most the unemployed refuse to work and after 90days they are NOT counted as unemployed

[questadventure]

The unemployment rate is very deceptive. Many many people have dropped out of the labor force and are no longer counted towards unemployment.

[christiansantos]

Having a THIS IS BAD thumbnail pic is a self fulfilling prophecy. 😂😂

[GershonBenYitzhak]

Anyone pretending we aren't already in a recession just baffle me.

[AdamC]

The Michigan survey is good but the stripper indicator rang alarms in February. The real MVP lol. Duck and cover

[LucBureau]

Redistribution of wealth, market manipulation, interests, military complex, pharmaceutical, supply chain and food.

Blame climate, Covyd, and the war, the national debt, all is on the table.

[Peter-dfip]

Tom, this is one of your best videos…

[elliotdelacruz]

Hi tom! Paul of everything money says hi

[voluntaryist]

Since the Fed (Central Bank) was created, its justification was stabilization of the dollar, to do the same for the economy. But its monetary policy has done the opposite for over a century starting with "The Great Depression", soon to be eclipsed by "The Greatest Depression" (starting now). All the govt. economists (who are Keynesians) have explained money creation (currency depreciation) stimulates the economy. The Austrian economists warned this is nonsense. They claim the stimulation is not economic, but political, causing malinvestment/malemployment which results in collapse (depression). Keynesians will be proven fools when the economy is hit with an "impossible" monetary condition called "stagflation", i.e., inflation + depression. The Keynesians told us this is impossible. It is, IF they are competent. Watch and you will see what fools they are, and how the populace suffers for believing them.

[JoseRamirez-vbsk]

Whata the difference between a recession and a depression? A recession is when your neighbor is out of a job and a depression is when you are out of a job.

[markosabelas]

Very well and clearly explained. Thank you.

[MD-hdcp]

Some people are still in complete denial. They're head is i don't know where.

[johnmorosini]

I look forward to hearing your views. Tom, keep up the good work!