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Is Now The Time To Buy A Condo?
Spotlight Is On Jerome Powell, Condo Prices Plunge, 800 Thousand Jobs Vanish, AMA Recap and more...
The Daily Ninja 8/22/24
Updates From The Economic Ninja
(8/21/2024)
ποΈ California condo prices in San Francisco are now worth less than they were a decade ago, marking a shocking decline.
π "Austin is now down 30% off of its highs, highlighting a crisis worse than certain places during the Great Recession."
π’ A one-bedroom condo in downtown San Francisco sold for $680,000, down from $825,000 in 2015, highlighting a significant loss in value.
π° If I had bought that duplex in San Francisco, I would have tripled my money in just four years.
π° "I was able to crush it as the stock market came down, and I saw real estate prices diving down too β this is an amazing opportunity."
π "The same amount of homes were sold as all of the year of 2008, when we were in the thick of it."
π° "If you use this not only you're going to save or make 10x what you paid for the course."
(8/21/2024)
π "So many people are sitting in the back seat of life and not jumping up to the driver's seat."
π° The use of "inaccurate Rush data" is criticized as a tactic to make the economy seem stronger for propaganda purposes.
π° "The DNC is protected by a wall and thousands of police officers that they are working hard to defund."
π° The FED's strategy seems to involve keeping people in debt and unemployed to justify printing more money and buying up assets.
π The BLS revealed a staggering loss of 818,000 jobs, primarily in high-paying sectors like Professional Services and Manufacturing.
π "If you're not preparing for an economic collapse like I'm talking Great Depression style, I don't know what to tell you."
π€ "We're living in a world where even the size of political crowds is being faked using AI, making it hard to trust what we see."
(8/21/2024)
Economic Trends and Market Predictions
π¦ "There will be banks that have to do bail-ins, and it will be a percentage of everyone's account, just like what happened in Cyprus."
β³ The debt clock reveals the alarming speed at which the dollar is losing value against various currencies and commodities.
π Investing in Bitcoin has proven to be more lucrative than the Iraqi dinar, highlighting the importance of diversifying asset classes.
π° A proposed capital gains tax increase to 48% could lead to a collapse of the stock market as buyers withdraw.
π "Warren Buffett is selling his stocks little by little because he knows there's so much more value in buying something at rock bottom prices when everything's depressed."
π "They are legally lying to you right now about retail sales numbers."
π Pros are predicting a 70 to 80% correction in the stock market, a forecast I completely agree with.
π¦ The US may revalue gold to create an illusion of currency worth, despite potentially hiding the true amount of gold it possesses.
Personal Finance Strategies and Mindsets
π Starting a small side hustle can be a crucial safety net during economic downturns, as it helped me survive the Great Recession.
π The idea of waiting for a 'white knight' to pay off debts promotes a dangerous mindset of inaction with finances.
π "The voice of the middle class is loud when it's wealthy and quiet when it's poor, and the government knows how to keep you down."
π± A wise person considers the financial legacy they leave for generations beyond their own offspring.
Cryptocurrency Insights and Regulatory Challenges
π° "I think XRP will be the answer for banks to move money and that's exactly why the SEC went after them."
π "Bitcoin is the leader on the leaderboard for cryptos, and its movement dictates the direction of the entire market."
Go out and crush it!
-Ninja Out