The Expert Podcast

I bet TV as usual we're going to talk about. The things that affect every consumer and American's life. Things like employment, housing market housing prices. Electric vehicles which you know you may not think is something that affects you but. The…changes that are happening behind the scenes right now.

Might put you in a position in the next two or three years that you have no choice about EVs. Whether you buy one or not it still may affect your life So we're going to talk about that Most importantly we're going to talk about employment. And how AI artificial intelligence. Is certainly going to affect your job within the next 24 months. these are the things that may be not are front of mind and they may not be in the top of the news that you read every day A lot of times you read about, you know the cultural upheavals or.

sports or things like that These are. These are subjects that are gonna affect your life in a big way…

Going for. So first. will. Talk quickly about EVs but, within a few minutes we'll get right into the housing market because I know that's what is important to a lot of people. Everybody has to play live.

You have a roof over your head you pay rent you pay mortgage. Maybe you want to move. and those are all things that you know are are a daily requirement of humans So we'll get to that very very shortly but first. Looking at electric vehicles. Here's the thing.

Electric vehicles are coming How do we know that? Well, The auto industry…

Is getting $12 billion funding from Washington. What does that mean That means the federal government is saying to automakers you better start building electric vehicles. You better start switching over. So it's a carrot and a stick right? They're telling automakers you're not allowed to build gasoline vehicles anymore…

That's not really the direct law but the other laws that are put in place that say your average fuel economy for all the cars you sell has to be 40 MPG. You're not going to get that unless you sell electric vehicles, some states are banning. Gasoline vehicles after a certain year sometimes 2030 32 sometimes sooner. So if you're an automaker and you sell vehicles to all 50 states and if two or three of the states you sell to like California, New York. maybe Oregon…

Two of those are the biggest states. If you can't sell gasoline vehicles then that's kind of put a crimp in your sale So you better get on board and make electric vehicles at the same time They're also giving you. An incentive. $12 billion. To retrofit factories to produce electric vehicles.

So what are they saying? The powers that be. And that in this article they call it Washington And there's more than just Washington but they're talking about the federal government are saying to automakers…

You have to build electric vehicles If you don't you have problems. But if you do we'll give you $12 billion So it's a carrot and a stick. What does that mean for you as a consumer? That means for you at some point you will not be able to walk into a dealership and buy a new gasoline vehicle…

And the story. When is that going to happen Well could happen in two years Could it happen in five years Could happen in 10 years. Could it have been a 15 years right? The question is what do you do about planning for that…

What do you do about planning for that If you just kind of go along figuring Hey I have my car everything's fine And when it gets old I buy another gasoline car buy a truck whatever it is, you may not have that option…

What do you do Well in the meantime right now there are problems. One problem is you know here's somebody who says my Evie has left me in tears You should never buy one Now this is just one person from Canada. advise peoples against people against buying an Evie. Unable to charge That's the thing People worry about unable to charge. You know, a bigger problem than the range anxiety not being able to get as far as you need to get to…is.

The fact that even if you get there the charger might network. Right. Driving the highway from Ontario to Montreal. For the electric van ran out of charge. They started looking at different chargers, but here's the problem…

Charging points unable to charge the vehicle before the battery ran out. And it seems that the system is down…

These charging points are not like a gas station where they have employees people working there. You know they're on top of it. These are just remote. Kind of absentee owner. Boxes in the middle of a parking lot that has this supposed to be plugged into the electric grid, but if it breaks or the computer breaks…

No one's there to fix it right away sometimes No one's there to even know about. it right away…

Right So. That's a current problem. Can that be fixed Yes I can We're going to talk about the bad news of VBS and then we'll talk about some good news. What's related to that or it's related to that is. You know we just had a…hurricane hit Florida It wasn't it.

Catastrophic hurricane It did a lot of damage but it wasn't like Andrew or, or Katrina…

Tesla bursts into flames and Palm Harbor after it was flooded with seawater…

What does that have to do with anything Well electric vehicles are powered you don't in the same way You have a gas tank in a gasoline vehicle Think about how much power is in that gas tank If you throw a match into that gas tank it will blow up. In order to get an electric vehicle driving you have to have the same amount of stored. Saved potential energy in that vehicle It's in the form of electricity instead of gasoline. It's still the same on a power. If you want to push a four.

pound car, 400 miles. You need to have up a certain amount of saved potential energy either in the form of liquid gasoline sitting in a tank or charging. Electrons in a battery. One way or another you need the same amount of power…

The gasoline in the tank is dangerous You don't want to catch that on fire. There are also risks to batteries Obviously a battery you can't just throw a match on it will catch on fire but there are chemical and electrical reactions that will cause the same thing to happen. One of which is water intrusion, water intrusion gets into the battery. And it starts to short circuit things. What can happen What does it look like?

Boom That's what it looks like…

The electric vehicle was submerged along the coast of Pinellas county…

The the fire department said we sprayed 200 gallons per minute and it took us 45 minutes to extinguish…

That's a downside…

Right How did the water get into the battery and the battery's not sealed Was it damaged? You know another thing that can happen is even with minor collisions on electric vehicles. You might also. Have the battery be. short circuit did that way.

You know you get into a little five or 10 mile an hour fender bender that battery gets jostled Think about if you drop your phone your cell phone from 10 feet off the ground. Right. It's probably going to damage the. Delicate electronics inside. Of that electronic device…

Battery in a, an EVs It's very similar in terms of its delicacy…

Right. So what is the good news Well here's some good news. If you're in Colorado, you can get an extra 6,000 by trading in an old gas guzzler That's on top of the 7,500 from the factory or from the federal government tax It. Credit the factories have big, incentives and even some, electric companies have incentives for switching over. So many states are now adding on kickers.

There are some states. That if you add up all the incentives on electric vehicle it adds up to something like $20,000 towards nav. So again, They're pushing it How do we know? The federal government is putting 12 billion behind automakers to switch over. Local governments are putting 6,000 per vehicle.

See where this is going. So plan for a future including…

EVs…in your life. I mean it happened this year and next year five years. But plan for that How is that going to change? Your. lifestyle.

Do you have to move? Right Maybe you're driving. Wouldn't support your location with an electric vehicle who knows. Things are going to get better. Porsche just came out with a solid state battery that will have an 800 mile range.

That's good. That's more than most gasoline vehicles have for a range Most gasoline vehicles have a 20 gallon tank They get 20 miles per gallon That's 400 miles even if it's 500 miles that's the 800 is almost double that…

The problem is if you have a gasoline vehicle and you get to a quarter tank you pull over or you spend three four minutes at a gas station putting gas into pump and you drive away. With a porch with an 800 mile. Range. Doesn't matter if you decide Hey I have 400 left I'm going to stop now And top off, you're going to be there for 45 minutes to an hour at this point. And that's if.

The thing even works. Right…

Just like what we talked about. So there is a difference. Is this going to get better Maybe it will. Maybe in three four years there will be thousands and thousands of plug-in chargers Everywhere you look you wouldn't be able to swing a dead cat and not hit one. Right.

We don't know that yet…

We don't know that yet. So it's a lifestyle thing you have to be prepared for. I know you have thoughts about this I know you have opinions about this Yeah, put them in the comments So we know what you're thinking about…

Here's another downside. Downside is in some states. Because of the fact that…

EVs don't pay fuel tax Look, every time you put gas in your tank. Some amount of the money you pay to that gas station, 5 cents 10 cents a gallon goes to the state. Road tax…

It'll say right on the gas pump. Probably never saw it before Look closely It'll tell you. You know the there's a 5 cent local, 10 cent state maybe 20 cent federal gas tax gasoline tax. Right. If you're doing an E V you never pay the gas tax that gas tax goes to redo the roads It's exactly what it sounds like.

Road infrastructure…

So all that money that the state gets from gasoline being pumped through the gas pump…

They don't get that when you plug in. Whether you plug in at home, are you plugged in over here? They don't get that. So what are they doing? They're putting a surcharge on registrations.

This happens to be in New Hampshire. But they're not the only state there's been other states that have done this. Texas is a good example. So if you register a vehicle that's electric vehicle, they're going to add on two or $300 per year. Surcharge for your Evie because you're not paying gas tax.

It may seem unfair and…you know maybe it is, but if you were going to pay the same on a gas tax…

When you filled up your tank. It comes out equal however…

That's usually not. an amount that's taken into account when people do the calculation of well, you know, it's cheaper to buy an RV cause I know the pay for gas and they do the breakeven. Right They they do the math. A lot of times they don't take into that. Into account that surcharge because these are just new and they're going to go up.

So here's the question How long does it really take to save money on electric car? There's surveys. That do the math. It says it takes 10 years to break even, or you even going to have your car 10 years. Do you keep cars 10 years?

Does that even include the surcharge? Right By the time you do the math on the fact that car costs more, the insurance is more. The you have to pay for the electricity whether you do it at home or, or a charging station. Right It might take 10 years…

Last thing is. Does the grid have the capacity to handle this Will they ask them electricians? It talks to some electricians. As we said state and federal officials are pushing for more electric vehicles on the road. some electricians worry about potential issues that could cause owner of Kirkwood electric said the electric grid may not be handle.

May not be able to handle many electric vehicles in one area. We could even see blackouts…

Charging one electric vehicle is equivalent to using every burner and the oven on the stove. Think about your electric stove. That's the probably the biggest power draw in your house…

Got the big two 20 plug on the back. How many times are you going to run all four burners and your oven at the same time? How many times are you going to run all those for seven hours? Because when you charge your vehicle overnight, that's essentially what you're doing in fact if you want to know. How much your electric bill is going to go up as a little experiment It's going to cost you some money.

Take you are. Oven I put every burner on high. Put your oven on broil. At 8:00 AM Let it run until dinner time. Be very careful you don't burn down your house make sure your home, make sure no one goes near it and make sure kids don't get burned.

And then the next month see how much your electrical bill went up. It's a good test If you don't have an Evie that'll tell you how much your bill is going to go up. And that's just one day…

You may have to charge her Evie. Three times a week…

So whatever how much it went up if it went up maybe $6 $7 over your normal bill. Well if you do it three times a week that's 12 times a month That's a hundred dollars more a month. That's probably less than what you spend on gasoline. But your electric bill may actually even go up more than that…

This electric company says they're stocking up to prepare more chargers…

Bottom line is that they say electric cars are the future They're coming either way That's where we started this. This segment of our. video they're coming. They're coming You want to be ready for it You want to make sure that your life is prepared. For the fact that there will come a day.

Could be. Next week next month next year 10 years that you will not have a choice in buying a gasoline vehicle…

How you prepare for that is important to start thinking about because when it happens it will be too late. If you didn't put in a charger in your house. It might cost more than look. There's actually a cheap way to put a Eby charger in your house…

If you purchase the wire make sure you get very heavy duty wire You're probably going to need, you know six or four to gauge wire. I can do some research on this. And you can actually if your fuse box or your breaker box is in your garage, your charging port would go near there. You drill some holes in the two befores and the studs. Run the wire leave Good Two three feet for the box a good two or three feet for the device.

And. Good. the charger plug, get the box and put it in You can even put the box on the wall. Next time you have an electrician come to your house for anything. To check something out to put in a new circuit.

I mean every two or three years most of us have an electrician come to your house for something…

While you're here How much would it cost for you just to hook up this wire The wire's already there. The chart Here's the plug. Everything's there You already have the fuse box open for whatever you're doing. Just hook up these wires…

It will be a lot cheaper doing it that way They might charge it to 300 bucks. Maybe right. If you call up an E an electrician and say I want to put it in the charger they might charge you 2000 1500. So you can save yourself a thousand dollars. By just being prepared for it.

You may never need it You may sell your house before you have an Evie, but when you sell your house that's a selling point. Or if it turns out in 2028, that there are no gasoline vehicles and you have to buy nav Now you have to scramble and you have to call the electrician. then, and now it's going to cost you 15 1800 or 2000 because right now it's 1500. Do you think it's going to be any less than five years? I have we not seen inflation, so there's ways to make that part cheaper.

You may not want to have a lifestyle with an electric vehicle You may want your gas vehicle where you can just pop into a gas station anytime you want and fill up. But. Here's the data points that say that's not going to happen. Data points is Porsche's investing to get 800 miles. The federal government's telling the car factories 12 billion If you do.

You're in big trouble If you don't. States are adding ha.

adding surcharges. States are adding. In additional incentives If you buy one right. You can see this is going to happen…

You can see this is going to happen. So. My soul prepare for it's not a big deal right now. So give us a minute We're going to take a quick break When we come back we're going to talk about the thing that everybody wants know about housing prices interest rates what's going to happen in the next two or three years Obviously what happened in the last two years has been mind blowing. Really three years 2020 until now 2023…

I mean nobody would have ever seen this kind of change in the real estate market ever in the history of real estate. It's going to change more in the next two or three years. Then it did in the last two or three years it's going to change more…

Probably for the worst or most people. And we'll talk about that Remember? 2024 it's just a heartbeat away. Most of the country now is already starting to get some. indications of falls happening It's getting a little cooler.

It starting to, not be baking hot some parts of the country we're already getting into the fifties and forties. So fall's almost here That means 2024 is almost here It'll be here be here before you know it. So you want to know what's going to be happening. four…

For your neck of the woods and also for the country for these economic things And we'll talk about real estate next and then AI taking jobs And then we'll also talk about. the…

Personal financial economy risks that are also coming down to pipeline. And remember you can always bookmark the link for this video and come back in a year and look at it to see how many of these things were correct. I'll bet it will be a lot of them

…

All right I told you to be back quick. So here's the thing. Real estate is probably the single lowest. Yeah. Important factor in most of our lives, right We all have a place to live We have a roof over our head whether that's…a house that you own, whether it's a house that you have a mortgage on maybe you rent an apartment or house by yourself Maybe you have roommates Maybe you have.

Another shared. living space either way either way you have someplace that you live. There's some people that live in a tent in the street, right Everybody has a place to live…

And the housing market…

Affects all of us in where we live and how much it costs. So. Not to. Be a broken record beat a dead horse Is it that something you already know about it don't already know about. Guess what.

Three years ago something happened. Something happened up until 2018 or 19 beginning of 2020. Things were pretty good in the housing market. Interest rates were low 3%…

The housing. costs the housing prices had gone up a little bit over the last 10 years but nothing crazy like the average price of a house. You know it was around 200 grand Maybe you went up to 2 60, 2 42 50. From. You know, over 10 years from 2010 to 2020 it went up.

It didn't go up that much. And went up about how much you think it go up in a decade, maybe 20%…

Right. Two 3% a year is how much it went up in some in most markets…

What's your reality Is it a whole lot? Right. And then what happened to 2020? In 2020 the first thing that happened was prices started to go up. You know with pandemic and lockdowns and mandates and everything else people wanted their own space.

work from home came into play So…housing prices started to Jack up. Right This is this is an old story I'm not telling you as news but just kind of setting the stage for what's going to happen in 2024. And people said well the housing prices are going up I'm going to wait to buy a house because they're going to come back down. Remember just because something goes up. Doesn't it have to go down the old saying what goes up must come down Isn't true…

Most of the, the biggest things that go up House prices stock prices, inflation have gone up. They net they never came down. Even when the housing crash happened in 2008…

Home prices went up They went down for about two years and they went right back up again. So it was temporary. So housing prices started going up 2021 2020 21 into 22. And at the same time. But interface are still low 3%, but then the interest rates started to go up 3% 4%, 5% people said oh five.

That's crazy Who would pay 5% a mortgage? Well, historical terms as we've talked about many times on this channel. That's still low compared to usually what mortgage rates are. Most of history of the modern consumer market which started in the 1960s, late sixties. For real estate mortgage rates were about 10%.

That's the, that was the going rate Sometimes they were up 15, 20, 15, 16 17%. Sometimes there were seven eight 9%. Most of the time they were about 10%. So 3% which is an unheard of. Bonus It was like winning a lottery…

And the rates started creeping up 3, 4, 5 when they got the five people said well I'm just going to wait until they go back down to three. Well they didn't go back down to three They went up to six and then up to seven and then last week up to seven and a half. So that waiting really didn't work It's more than double what it was. But then people said well when rates go up the house price has to go down That's you know rates go up prices go down That's what's going to happen. that's not what's going to happen because there are more factors than just the interest rate that goes into what a home sells for.

It's supply and demand. Are there people that want to sell their house Well as rates go up more of the people who have houses with 3% mortgage, don't want to sell it Because addition in addition to selling that house you're also getting rid of your mortgage because you have to pay it off. So what does that mean for the, housing market? And you'll see the link just changed below. To our website where we show that there are many houses still in the 200,000 range that can be purchased Again We're not realtors we don't sell houses, but it'll give you an idea.

Of what's out there, but here's the thing…

This is just yesterday August 30th. Signed contracts for us homes arise for the second month in a row. This is when home prices have. At their highest point ever and interest rates hit 7.49% seven and a half…

When those two things happened. Signed contracts rose for the second month in a row…

Many people have lost out on multiple offers on a home. Remember that happened in 2020 people said this is crazy. Multiple offers on a home This is stupid. It's happening again. Even at interest rates in the seventh because people are getting used to it.

How can American home prices still be rising? Mortgage payments are at their highest since the mid 1980s. There are two markets of people right now. There are people that. Just flat out can't afford or can't get approved for a mortgage.

And there's some that can, that don't want to pay four 50 for an average house and don't want to pay 7% interest but they say I got to do what I got to do to get a house. Home ownership. Near the top of surveys about Americans most want in life That's why we make it One of our subjects all the time on our videos…

Those. to enter the property market fakes a triple whammy. High prices costly mortgage limited choice And we're going to talk about all three of those things because they are exactly right. High prices. Well high compared to what High compared to 10 years ago Definitely…

Costly mortgages. Compared to what Compared to four years ago Yes. Com compared to the normal average No…

The, the limited choice is true. But that's not going to change So what to look at going forward? Are any of these kind of change? Answer No, none of those three things will change any time soon…

None of them. The prices are where they're at Nobody in their right mind who owns a home is going to sell their house for less than what the market is today…

Nobody is here Why is that Well the answer was just in the last article…

Multiple home buying offers. At today's prices there are multiple offers. So why would anybody sell for less than today's prices? Unless something changes…

Plus. They're gonna take a huge hit a huge loss on their house in terms of mortgage If they have a 3% mortgage or maybe the house is paid off. When they go to buy a new house they're going to have to get a new mortgage of 7%. That's kind of wipe out and that's 7% per year. So you might say well it's just, you know, Discount.

You know get an extra 7% for your house. Well that's 7% mortgages and APR annual percentage rate So if you buy a new house with a 7% mortgage, you pay 7% interest every year on the, on the price. So in three years you've paid 20%…

In five years, you've paid almost 40%…

See how that works. So if you sell your. 3% mortgage house or the one that's paid off and you go into a 7%. deal, you're going to pay 20 or 30% penalty. By getting rid of her house and people are doing that math.

So limited choice is not going away. Limited choices is here to stay…

Home prices are rebounding almost all the way back to record highs of last year Well they're more than all the way almost all the way back they are back. Housing prices have gone up overall in the east. Dropped a little bit in the west but that's not actually true It's just that some of the houses that are selling now are are. Lower price…

Experts say some kind of miracles are needed in the world of real estate to reverse trends. There is no miracle, right This is not going to be something that. The changes. Right This is here to stay. Right This is the way the market is.

Look the mortgage rate is 7% is. Is not that out of whack from normal, the housing price average 450,000. It may it may be a little higher than average compared to incomes and compared to inflation, but that's just where it is and what people need to get. their house to get out of it…

Fox business housing shortage is getting worse Number of homes for sale drops…

Right…

Worsens. Inventory shortage deepens. So how does that affect these three things? Right…

High prices, costly mortgages limited choice…

Inventory shortage deepens. Number of homes drops well there's your limited choice right there. Limited choice, costly mortgages. Let me tell you something 7% not going away Well actually it is going away It's going to go to almost nine…

By this time next year will be 8.2 8.3 maybe a little higher. 2025 will be roughly nine They don't trade between 8.8 and 9.2. Mark my words, bookmark the video. Make a note on your calendar for September of 2025 And let's see if the rates are 9%. I bet.

I bet they will…

So all those three factors which is correct, this is the economist major. International financial publication…

How can prices be rising Well they tell you right here. It's…high price for costs costly mortgages limited choice None of those are going away It's very clear All three of those are, are permanent for the near future. At least for the next three four years maybe five

…

Shark tank. Industrial criminal Larry says it's weird There's no recession yet And predict some mortgage rates will exceed 8% Almost like we know what we're talking about. We've started saying this several months ago, even when rates were in the sixes we said they're going to go to eight They're going to actually go over eight. Because the federal reserve has to keep…putting more rate on there. A discount rate.

In order to keep…

Inflation from. even more out of control. Right now inflation's already out of control They're trying to talk you out of it to say yeah there's not much inflation It's not that bad but you know You're doing that You're not fooling anybody right They're not fooling you Are they…

You know what the inflation is…

Right. you have the…

The gas bill. To prove it You have the grocery bill to prove it You have the, the utility bills to prove it. You have all those things to prove it. So you know inflation isn't going away. So how do you fight inflation If you're a government?

You. Jack up the discount rate which is the rate that banks borrow money at, and then they mark it up for mortgages. Well there's another factor that's going to make that markup even more. Mortgage lenders are bleeding money. There's a lot of mortgage companies that are actually going out of business…

And the reason why is because they're losing money. It costs. them. About. a thousand bucks.

Too. Originate a mortgage…

The labor the cost to do that. Lenders lose money on a loan when it's more expensive to produce the loan than the revenue generates And that's what's happening. The mortgage companies are starting to lose money So how if you're a mortgage company and you're losing money how do you make more money? Well you just make the rate higher…

If you're lending at 7.49% and you're losing money you might have to go up to 7.8. That's even if the federal reserve doesn't even raise their rate. Radical change in interest rates over a short period of time. Drove. Mortgage volumes down, but we also have a housing crisis We don't have a lot of inventory which is lower volume.

It's like any other business you have fixed expenses for your mortgage company your rent your payroll your insurance your electric. all your expenses you have, and you have to divide that over the number of sales you make. So if you are lemonade stand and it costs you $10. You know for electricity, for lights for your lemonade stand and you sell 10 cups of lemonade. Well…

That means each cup. If it costs a dollar it goes to the electric bill. Well now, if you only sell five cups you need $2 per cup to pay your electric bill It's the same thing with mortgages. As your volume goes down you have to make more on each one to pay your bills…

It's a big deal. Very very big deal. Last but not least. Home builders are doing well. Prospective buyers are now starting to look at new homes as a way because as we've said, The.

inventory number of homes for sale drops. Inventory shortage deepens Look there's no used home factory. Any home that a resale home That's. kind of be available for sale is already been built 5, 10, 20, 30 years ago. They're not making any more of those.

And if the people who own those houses now don't want to sell them. Then there's nothing you can do So what can you do You can build new homes. So the home builders are now. Cautiously cautiously. Starting to maybe develop more homes or buyers or homeowners or going directly to the builder saying look build me a new house.

Like in this neighborhood here I don't see any any, any empty lots but let's say this was an empty lot up here. You buy this lot and you call up a home builder and say look here's my floor plan Build me a house…

That's how it could work…

More of that is happening. Because the resale inventory. Is not. It's not coming to pass…

This is not something. that should be new If you've been watching this channel we've been, we've been mentioning this for many many months. So I'll kind of coming true in the timeline that we predicted. Again nobody has a crystal ball, but it's not prediction from our magic. kind of.

Crystal ball like we said it's from watching the actual. Answers that the experts are giving the federal reserve said a year ago we're going to raise rates. And everybody in the market said Rachel probably going to go down. How can you say that when the federal reserve already told you the raising rates. At the same time people said well house prices have to come down because interest rates are higher.

Home sellers are telling you we ain't selling our house with 3% mortgage. It's very clear. All these things are not an opinion or just a guess or just spin a roulette wheel and wherever it lands, that's the answer. It comes from reading the actual facts And we're going to do the same thing here in a minute. With.

AI. And cyber attacks. This is something that you may not have seen. As a consumer affect you directly. But the number.

And volume and severity of cyber attacks is going through the roof. Mostly for companies. But it does have an effect on consumers as well So we'll be right back. with that one. Here in a minute

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All right That was pretty quick. So here's the deal…

The just ask you what your…

She says we were…loading up some some links for you. one more that slipped through the cracks That's important. Here is the answer. The fed chairman. Jerome Powell said the fed is prepared to raise rates.

Again…

Rachel rise further continues to fight to bring inflation back to 2% It's way above that now So, you know get ready for that So anyways, AI…

Cyber attacks. Patient data from. hospital This is just one example. Was for sale on the dark web So if you went to this hospital during the time that this. Before this attack happened.

your personal information. Social security numbers Driver's license medical records passport legal documents posted for sale on the dark web…

Because…this hospital did not have good cyber defense cyber protection…

They're trying to sell it for 1.3 million. Now this hospital's in for a rude awakening. Once they find out how much it's going to cost them for regulatory. remediation. Probably going to get fine You're going to have to pay for.

For credit monitoring for all these consumers. Most states have these kinds of laws Mostly they had some kind of cyber…insurance. Cyber liability insurance…

And we'll see where that goes. Numbers don't lie harsh truth of cyber attacks in the new report…

Analyzing real world attacks…

This AI powered endpoint blocked one and a half million cyber attacks. In in about a two month time. And we're seeing that in our operation side, there's tens of thousands of cyber attacks happening every week. 90 days of cyber attacks. Total number of malware based attacks One point.

number of unique attacks using previously undetected. Malware 200,000. So they're creative They're new…

How many tax per day 17,000 attacks per day…

The velocity of attacks detected. Is huge…

Most targeted industries financial healthcare is almost like we just read about that Didn't we Healthcare. Yeah I think we did hospital, right. Food retailers supermarket drugstores Why is that…

And two months from now the way attacking different types of businesses. So the bottom line is that if you're in any kind of business, you need to have protection against it. If you are a consumer, be aware that it's just a matter of time until some company you do business with…

Has a breach So anytime you're doing business with somebody and you're giving them personal information. Things like, what did they say? Social security number driver's license medical records passport legal documents If you're giving a company any one of those first question is do you have cyber liability insurance ASCO? Do you have cyber liability insurance? If they don't you can tell them to call risk coverage because that's what we can provide.

So it's not a small item because even if…

This hacker. Cells. This 500,000. Records, even if they don't get 1.3 million even if they get 300,000 who cares it's all free money to them. What's it going to do for you If some hacker.

In overseas has your information and they do. synthetic identity. Or identity theft. Or get loans in your name or what have you…

IBM is, They froze job hiring. Predicted…

AI would take 50% of new jobs. Think about that…

IBM said AI will take up to 50% of new jobs. Just piled into a four and a half billion. Funding round…

The tech unicorn is an AI company. It's a company that creates AI that does jobs So. Not only are they predicting it they're putting their money where their mouth is How's that gonna affect you? As a. An employee…

How's it going to affect you as an employee…

Here's the thing. This AI is not the only. Issue. That's out there. That's going to affect.

Your future…

As an employee…

Not the only one. There's a bunch of other things. Are gonna affect you…

Let's take a look and see what some of those things are…

Going forward in the next couple of years…

Let's see what those things are…

Got a few of them here that…may be might be interested in…

All right…

It gets back to actual human here

…

So first. We're going to look back at this article…

Big company, one of the biggest companies one of the first big tech companies IBM. Putting money into AI. They say AI is going to take 50% of new jobs and they're putting four. 0.5 billion into AI jobs Okay. So what else is going to affect You may not seem like these things are related.

But in reality they are. this one's related. 61% of consumers are living paycheck to paycheck Maybe that's you…

61% of consumers. Why is that happening? Well, Walmart as an example is cutting pharmacists pay an hours while workload piles up. This this may not seem like it affects you directly. But it's an example of companies that are cutting jobs even when workload is piling up you would think when a company has a higher workload, That they want to hire more people.

Right…

Workload piles up. Cutting. Pay an hours. How does that happen? Well…

Walmart needs to make more money. And they know the AI is going to take some of these jobs. This is going to be a double whammy for you as a consumer. First of all even if you don't work at Walmart it doesn't matter wherever you do work someday they're going to do the same thing. They're going to say, Hey wait a minute…

AI can take over 50% of the jobs in my company They're going to. IBM realized this earlier, wherever you work hasn't figured this out yet. They will someday. Right. So your company is going to realize that and they're going to say well let's just start cutting hours.

At the same time how is this else kind of affect you? It's going to affect you because when you go to Walmart, To get your prescription You're going to be in this line. Instead of just walking up and spending five minutes. This is what's called a moral hazard. Meaning your life is going to get worse because you have to deal with the waiting time.

Right. How else does this affect you? Well, Auto workers. W a 40% pay increase. Are they going to get it I don't know if they get the whole thing.

The problem with auto workers is it's not all stuff you can do with AI at least right now…

That's going to drive up car prices. Labor is about 30% 25 or 30% of the cost of the car. So if you take 40%, times 30. That's about 12% of the total. And if that goes into play cars are going to go up 12% probably 15%…

Now, what will. The automakers for GM instilled Lantus do about it What they'll do is they'll say well we got to pay this now just to keep our factories going…

But at some point we'll get rid of all of these people because it costs too much money. How do you get rid of people Remember that last article we talked about in the first segment where it was. The government paying 12 billion to retool factories When they retool the factories do you think they're going to retool it to keep auto workers with 40% pay increases? No. They're going to do what IBM did and say, AI will take 50% of the jobs.

See how those two dots connect now…

This one may not seem like it affects you but it will. This is Portland…

But other states and cities are doing the same thing. Why are Sanctus. you can't give somebody a zero If they cheat. If they don't show their work if they are late for class if they don't show up, they're basically saying that you don't have to demonstrate. That you who.

Are good at. Whatever subject. Not giving a student a zero when his or her work…

And a low mark actually harms the child. Okay. So you might think well that doesn't affect me Maybe you don't have kids in school maybe not but you know what at some point all these Childs that are not learning how to do math. We're going to be out in the world, work somewhere. And they're going to affect you…

'cause you're gonna have to deal with them Maybe they don't affect you directly but they put numbers into a system that maybe do a budget for your town Now the budget's off. It's gonna affect you at some point…

What do you do about it Well…

Side gig…

This side gig. Makes 3,350 4,000 a month. Does yours have to make that much No What if it makes $354 a month…

Would it be nice to have an extra 400 bucks a month? For maybe working a couple hours…

And then you can maybe make it…

Earn $654 a month. And maybe $854 a month. At some point it becomes a real number

…

2024 it's gotta be much different than 2023 way different 2020, wait til you see 2026…

You think it's crazy now? It's going to be way worse. How worse? Keep an eye on our channel Watch us on rumble YouTube. Facebook.

Twitter the same video is broadcast to all those channels. You can watch us anywhere. It's turned into a podcast on transistor…

It's also…

Britain as text on many of our websites we run dozens of websites You can get links at actual human or the other. Place you might want to look is describe.tv. Is our video website…

Either way, this is one more piece of information you can use. To plan for the future. You don't want to be planning a few days in advance a few months in advance You want to be planning years in advance, even if you are like these people living paycheck to paycheck That's okay. Think beyond your next paycheck even if you can only pay for things from your next paycheck. That's okay.

Think farther than that once you start thinking farther you'll be able to start executing farther…

It's easy to say…

I get it It's easy for me to say it. It's harder for this to be actually executed. But don't give up. Keep thinking ahead. Even if it seems like it's tough there's no answer to it.

The more you think about it the more answers will come If you give up then…

There's a lot of great opportunities you know we just saw I mean here's an opportunity right here I mean not that. Not to beat a dead horse and put it back on the screen. Right. Okay. These guys created a company.

That makes 354,000 a year You know how much that is a 354,000 a month. You know much of this per year that's almost 5 million a year, four point something. Per year. Now. This is what we talked about before too.

They may 22 more. He built several of them…

So it may not happen the first try, but if you start working out at early, you'll finally get one that clicks…

Not subject for this video, watch our channel. For notifications, we will describe X. Actual examples of things you could do. as a side business that can make you hundreds or thousands a month…

3 54. 250 4,000 a lot of money. Are you going to get there Most people won't. But what if it's 500,000 1500. Wouldn't that be.

Beneficial to you…

I know you have opinions about all this I know you do…

I know you do as you're watching this you're thinking I this is what I think and this is not true And I agree with that. Let us know in the comments what you think…

Because your opinions. Being more visible to the world. Could be what influences somebody to make a decision or gets more people on board to a certain way of thinking. Don't keep it all to yourself Don't be selfish. We'll keep it to yourself.

Let us know what you think…

Thanks for spending some time with us…

C S again, today's Friday probably on Monday even Even though it's a holiday we'll have another video about many of these subjects And next week we'll talk more about potential business opportunities…