The Daily Ninja 7/30/24
Updates From The Economic Ninja
(7/29/2024)
📉 The upcoming child tax credit expansion just took a turn for the worst.
💰 The temporary expansion of the child tax credit led to an estimated 44% reduction in the national child poverty rate.
🤔 The comparison to the "don't feed the Bears" sign suggests that providing financial support without work requirements could lead to people becoming dependent and not contributing to society.
(7/29/2024)
💰 The threat of decentralized blockchains to the US ability to print money is a real concern.
🤯 The most amazing thing about Bitcoin is that there's no denying it, even if the government claims it as their reserves, the transparency of the blockchain technology makes it undeniable.
💰 The transparency and visibility of blockchain technology is unbelievable, making it essential to understand for anyone interested in cryptocurrency.
📱 The ability to transfer Bitcoin from one phone to another without any names attached highlights the anonymity and privacy concerns surrounding cryptocurrency.
🧐 Bitcoin is not going away, and people need to start getting used to it.
💰 "I believe it's going to go much higher as a matter of fact. I think you're going to see a top in this next cycle between 120 140 but really we could have a blowoff top to $250 $250,000 per Bitcoin."
📈 The strategy involves buying silver when Bitcoin tops, with the expectation of a 100-200% increase in value before moving into real estate.
📈 "I have a couple of close friends that have seen me with side hustles and go from starting with $5500 in my pocket and a year later have a $100,000 then taking that $100,000 and I put it all into crypto."
(7/29/2024)
📉 The surge in commercial property foreclosures does not suggest that the bottom is near, as claimed by the Wall Street Journal.
💰 Foreclosures on commercial properties have reached a 133% increase from the first quarter, signaling distress in the market.
📈 The dramatic fall in interest rates after the crash of 2005 is surprising and significant.
📉 Banks are hiding the truth about the real estate crash, putting people into special servicing, and trying to cover up the severity of the situation.
💼 The downturn in commercial real estate lags behind the residential market in an economic cycle, impacting businesses and tenants.
📉 Unemployment is ticking up and banks are failing, indicating a potential economic crisis on the horizon.
📉 Regional banks are taking the heavy brunt of commercial loans, leading to an increase in short sales and difficulty in taking write downs.
🤯 The FDIC declared insolvency a year ago, signaling a potential epic meltdown like the Great Depression.
Keep your head up and crush it!
-Ninja Out






