The Terrifying Signs that confirms Real Economy Is Crashing

How do you know what's some signs to know that the economy is bad.

Um one crime rates are going up like in light of you know of everything that's going on we talked about the q50 thing last week but if you look city in major cities the crime rates are going up and i talked to somebody uh yesterday they're like even in juvenile detentions more kids are stealing.

Uh Not out of joy, but out of necessity. Well, New York crime rates are down.

Shot the Mondami. Shot the Mondami.

But in other cities, crime is going up. Robberies are going up. Burglaries are going up.

That's a sign.

Also, for me, I keep saying that the work ethic of the elite and billionaires, it's scary. I keep talking to one or two people maybe every other week in the NFL or NBA who keep telling me they're not making enough money. And they're at 35 and 36 and 39.

These aren't journeymen.

These are the second player on the team or they're going to be first this year. Not making enough money. They're in deals. They're investing. They are not underinvested. And they're saying, well, I'm not making enough. It's scary as hell to see. And lastly, I talked about it Monday, but to see McDonald's down, Lowe's down, Netflix is down.

Like the retail sector.

Is getting smacked and everyone acting like everything is okay and it's not. And there's no recovery period being given. It's scary. Like Under Armour, even though it may not be a fan in our culture, that's a mega business.

Under Armour has been underwater for five years.

Bond Mark has been down five years. As much as they keep saying the yield has go up, if you look at the long-term chart of the 10 year or the 30 year, it's been down. It's been in a half decade recession. It was almost entering a lost decade for the bond market. But what about you?

You brought up a lot of good points. I'll say this. I don't want to. This is a little hot take. It's a hot take.

I was talking to somebody that owns a clothing store, and they were saying that the clientele not really spending like how they used to spend a lot. Look, I'll tell you this. This is controversial hot take.

I got a hot take after you go. Go ahead.

When the street money is dried up.

Yes, it's a sign.

So when you see the street luxury spending slow down. Yes. When you see the bottle service dry up, the strip clubs empty.

Yep.

It's a trickle down effect. When you saw the, this goes back to the 80s, right? When the high flying 80s. When all the Wall Street, everybody, they trickled down and they were buying.

A bunch of things.

A bunch of different alternative assets.

They were buying alternative assets. And it was money flowing in Miami and New York.

Yep.

Chicago.

D.C.

Yep.

During COVID.

Uh-huh.

You seen, you know, however they was getting their PPP money, like, when you start to see.

That level.

Yep.

Be more fiscally responsible? Early indicator. Yes. There's a street economy.

For sure.

There's an actual street economy.

It keeps a lot of America going.

No, it built Miami.

For sure.

That's something that nobody really wants to talk about. You should watch Cocaine Cowboys if you're interested. Cocaine Cowboys... lays out how that street economy built Miami. Miami skyline was built off of that.

And regardless of the criticism of dude being at InvestFest, they built a lot of Atlanta.

A hundred percent.

They built a lot of.

They helped out a lot.

A lot.

They helped out a lot.

They raised the value of Buckhead dramatically.

Brookhaven, it's a bunch of value that they created over there, but that's another conversation for another day.

So when you saw... It's slowed down.

Dramatically.

And I'm hearing this from club owners, clothing store, because these are the people that these people frequent, right? Clubs, restaurants, clothes. When that element starts to be more financially, fiscally responsible because they don't have the money, it's a telltale sign. Everything else you said, gas prices, of course, everything else that you said, 100%.

But the street index is real. It's trickling down.

I'm going to be super real. This year, I've had more nightlife baddies than ever. Normally, you come to New York, yo, you want to come through? Now it's, could you look at my portfolio?

What do you think? I'm like, when did you start investing?

The second one, on every playing right now there's a devout MAGA Republican who's asking me for financial advice like I'm in Texas normally if you live in like Houston is Houston but it's still in Texas it's still divided I'm getting a lot of devout David Duke MAGA Republicans asking me hey where should I put my money random and I have no clue who they are scary as hell when the Republicans come to Negrosito.

It's tight, boy.

The economy is tight. You're not going to Fidelity and Schwab. You coming to me?

What?

Okay. Gotcha. You got three years. Do what you want to do.

Three years.

You got three years.

That's a fact.

If you have to pick between Puerto Rico and Dominican, the little area we're going to pick in since we're doing beaches.

You want to stay on this PRDR thing, huh?

Well, media training is called a hook. You know, call and response hook. So, next subject. Back to you, Rashad. I'm going to get the text, not you. Oh, speaking of Miami, real quick ad break. October 3rd, I will be in Miami with my brother Bilal Little at Legacy Con with Black Professionals Network.

I love y'all. I saw my brother Bilal today at the exchange.

So on October 3rd, we will be doing an event at the Hard Rock in Hollywood, Florida and Miami.

Congratulations.

Thank you, brother. I appreciate it.

Shout out to Bilal Little.

Yeah, that's my guy. Y'all got some events coming.

Up, too.

Go ahead.

Yeah, we'll wait.

We got time. But we will be at Afrotech, though. I want to support her. Shout out to Morgan. She a real one. Afrotech, Houston, Texas.

Pull up, man.

Support the real. Morgan is one of the smartest people. She's one of the smartest people, and she's one of the realest people. Like, you know they say, like, look, she's realer than a lot of dudes.

Oh, for sure. 5'2.

It's crazy.

Smart.

5'2 woman is realer than a lot of these dudes.

For sure.

100%, by the way.

Another person.

100%.

Increasing her output like crazy. I watch all our content. New series coming out. Kevin on stage. The interview y'all did with him was fire.

All the creative. Mojo Brooks. Mojo selling out like crazy.

Everyone's creating and doubling down and tripling and quadrupling down on everything. Because everybody is getting the same message about three years. I told you, when I get back to the suit, I own a suit in blackout.

It's all business, you know. Money season.

When you see Ian in the suit, that's an indicator.

I told you.

That's an indicator. Made my rounds. Hey, go to GTS.

Trade boss. I made all the rounds today. Kristen, cool. ETF Central, everywhere.

Cool.

Make the rounds.

That's a fact. Troy said she's actually 4'10.

Oh, really?

Yo, she's short.

She's short, but like I said, stand up. Stand up, man. Shout out to Morgan, man. Stand up person right there. Can we show the clip? Now, Mike, now we can show the clip.

I stopped paying on everything. I stopped paying on credit cards. I stopped everything.

I stopped everything. Was it from a money perspective or you just.

I had probably $ 8, 000 to my name That's it.

I had a run with that.

I mean, his dad definitely been coming through, helping out or whatever, but you got to think about it. You ain't got nothing coming in. You ain't got no room to be putting nothing out.

Right.

Right. I feel it. How's the relationship with the family now?

We're fine. We don't talk every day. His dad reached out the most or whatever.

Shout out to Cora.

Yeah, Cora definitely reached out the most. He get the kids all the time. Make sure they straight.

They need anything.

He called every day last week.

Check.

Okay, so that was Rich Homie Kwan's mother of his child and his girlfriend.

His girlfriend who is also the mother of his child. His family.

Essentially, it was like his wife, but they weren't married. Unfortunate situation. She said that she wasn't even thinking about life insurance. She said that she was left with.

$ 8, 000.

This is a multi-platinum, multi-platinum selling artist, right? Lifestyle, different, multiple records. Left with $ 8, 000. That's hard work. And she had to stop. She said she just stopped paying bills.

You have a choice.

So, once again, unfortunate situation. But there's a few lessons here.

Okay.

Of course, I hate to beat a dead horse, but estate planning is important. For sure. And nobody thinks they're going to die. Especially if you're in your 20s, you're in your 30s. You're in your 40s, really. The first thought in your head is not, I'm going to die. It's like, I have time to do this. Everybody thinks that they have time.

Until you don't have time.

And then you don't.

Estate planning. Vitally important. estate planning is extremely vitally important.

A will, a trust.

It's very important. I was just talking about this today. Very important.

Because where'd the money go? I'm pretty sure he had more than $ 8, 000 to his name.

You would hope so.

But given the industry that he's in and how predatory, when I sat down with surf, he said an artist has four major moments in his life to sell an album.

One is when you die.

And two, if you kill somebody, So if this is the business model of, who said the Dare Rappers get better promotion?

Was it J.R.R.

Styles?

If this is a part of the system that's been going on for 25 years, I wouldn't be surprised if on the contract side he didn't have more than that.

It's a predatory business.

More than $ 8, 000?

You'll be surprised, bro. A lot of artists don't have. Why do you think they'd still be in the streets and scamming?

Even if he had, let's say, 100 grand, to move a million units, talk about robbery.

The Terrifying Signs that confirms Real Economy Is Crashing

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