Trending searches: social security increase for 2025
welcome to the economic depression and preparation Channel thank you for joining me on this Thursday Edition briefly September 12th 2024 Edition please be sure to subscribe and like and hit the Bell notification to get notified when the latest new video video arrives we interpret financial news here on this channel and we appreciate your support and all of your comments as well uh today I just want to talk about the prices that are rising and the cost of living adjustments to people's wages um are not keeping up with the inflation now the good news is I will say that gas prices have come down nationally um but that's to be expected as we're heading toward the election year and all of that and also we're heading toward the fall in the winter season when typically gas prices get cheaper anyway so that's the good news now here we go with us prod producer prices rise slightly above expectations in August so people um the input cost to getting these these goods and services across the country um and also it's rising and so that means that they're going to pass those higher costs along to us um even though inflation may be holding steady or coming down the producer price index for final demand Rose .2% last month not a huge increase but it's still Rising that was rised lower in July up 1.01% as previously reported so Economist pulled by waters.com here they had PPI gaining 0.1% so it's gained and as extra little 0 1% but still that all adds up as well as we continue to rate for that rate cut policy it should be coming either next week week or this coming week here about whether it's going to be a 50 basis rate C by the Federal Reserve Bank or a 25 basis rate point cut many people believe that it's going to be a 25 basis point rate cut because we've got so-called good news quote unquote that inflation is coming down and that unemployment is still holding steady around 4.3 4.4% officially now we know the unofficial unemployment numbers are around 15% because we have to factor in people who are underemployed in other words people who are working one fulltime job one part-time job or two part-time jobs and you know another side gig hustle type of thing so that those numbers don't include that as you very well know um and so we have to factor in all those people and those people who have also given up looking for work and who are um working under the table or Contracting work whatever the case may be so we know that the social security Cola projected to be 2.5% for 2225 this is the smallest Cola increase since 2021 since before the pandemic so those who are relying on of course we know Social Security um checks were never meant to be the all in all income and retirement we know that but still this is going to be the smallest Coler cost of living increase adjustment ever since 2021 so a 2.5 Cola per Cola would only boost your social security check by $48 um then I take taxes out that so this is going to be a nothing burger and as you know social security has Fox Business so apply alluded to could be running out of money by 2035 I wouldn't say running out of money but I would say they could be looking at reduced payments for the majority of Social Security recipients by 2035 or somewhere around there that could be happen that could be happening here uh so in other words you know like I said the the wages though regardless of these fixed defined benefit wages like Social Security and other things like that um the wages of average Americans hadn't got a real wage increase since the 1998 um period 1997 period so we're we're overdue we over 25 years overdue for an actual wage increase here and many of you guys can attest to that because nearly half half of us renters are spending more than 30% of their income on housing cost I would go to say even nearly half of us mortgage holders are spending more than 30% of their income on housing cost too so it's a double whammy it's a cat 22 here as both are looking for both are looking for relief in this housing market and rental market and we're just not quite seeing it yet now I do think coming up next year all that's going to change as more unemployment begins to accelerate next year and businesses and um I sorry landlords going to be desperate to have people come in rent because you know they're going to lower these requirements talking about three times the rent a month and all that kind of stuff they're going to be lowering the requirements cuz they need to fill these tenants they need tenants to fill their vacancies because they have bills to pay too they have mortgage back Securities and other things to pay in these uh places like that so another thing that's interesting is that the Airbnb Market um is still still relatively lukewarm a little bit warm to hot but it's nowhere near it was um at the beginning of the pandemic or just before the pandemic began what was red hot so with the Airbnb Market cooling uh us rent are spending more than 30% of the income a lot of people have been turning to homesteading and tiny homes let me know what you think about that in the comments would you buy a tiny home would you buy RV would you live in those type of conditions a lot of people out west are saying that they're getting tiny homes or RV type of situation where they're living out of their Vans or whatever they're not even renting in these places anymore so that thought that was very interesting hearing from a lot of these people out there let me know what was that something that you would consider doing or is it just too dangerous with the crime and then the actual too many permitting fees you got to pay and parking fees with these RVs and all kind of stuff um let me know what you think about that as well but mortgage rates and mortgage costs and rent rental costs are definitely continuing to go up and increase in this economy Dow Jones rallied today S&P 500 NASDAQ rally for the fourth straight day um guys you know this thing like I said the stock market is no longer based on fundamentals it's based on algorithms computer algorithms and all that kind of stuff and so fundamentally you would think that if everything is booming why why would there be a need to cut rates you tell me why would why would we have to cut rates by 25 or 50 basis points of everything is apparently booming I mean we've got these companies like Nvidia soed 8% yesterday after CEO Jensen Hong made positive comments about demand of the AI chipmakers products um all the Magnificent Seven companies that they keep saying about Apple Microsoft Amazon Google alphabet Meta Meta broadcom all gaining ground you know so why why why would we have to cut rates in this type of environment ladies and gentlemen if you normally cut rates if things are getting you know uh bad if things are getting recessionary so so why are we cutting rates in this quote unquote booming stock market now Main Street may not be booming but stock market is booming so let me know what your thoughts on that as well it's very disconnect between the two there um and so but that's why we encourage you I encourage you to continue to prepare mentally physically spiritually and emotionally because this is going to be a marathon and when this crash happens it's not going to be all of a sudden you know you're thrown into a doomsday it's going to be one piece at a time one Domino at a time maybe this week it's the credit Market next week it's the uh the actual physical food Market you know supply chain go down or next week it'll be the actual banking system you know that kind consolidates in the three Banks and everybody has to scramble to place the money out get the money out of place the money so it's going to be a piece by piece kind of restructuring the great reset I believe the great reset and you know all that it's going to be a piece by piece thing whether just all of a sudden the next day okay we're going to a new system digital currency and we're going to all this stuff and sudden everything down they're going to do it piece by piece as to not disrupt everything at one time so people will be on to what they're doing in this system so let me know what you think in the comments thank you for listening God bless you I'll talk to you later on when we get more reports earnings on um coming out this weekend and also on the Monday and Tuesday next week they'll decide how much of a rate cut they're going to get if at any at this point thank you for listening