Everybody, economic ninja. We’re going to talk about delinquencies. They’re spiking to pre pandemic levels. We’re talking about delinquencies in all types of different loans. This is not good. Real quick. Very important message. There are scammers down in the comment section. Never ever give them money. They will convince you they’re me. And now they are selling you fake courses on real estate courses and things like that. I’ve said this before.

I stopped selling that course. Please do not give these scammers your money. Not joking. YouTube will not stop this. I’ve talked to my assistant. They act like they know nothing about this. Please stop giving them money. I will never invest your money for you. I have a hard enough time investing my own. Okay, so here’s the thing. Delinquent. This story is out of zero hedge. Sorry. I don’t know why they’re not stopping these scammers.

It is very simple for them to do. They could go on and see that any of these people with any variation of my name and using my little emoji are not me and ban them. This is absolutely insane. All right, zero hedge. As delinquencies spike, banks are granting fewer credit lines, fed analysts warn. They say with credit card delinquency rates at their highest levels in more than a decade, getting approved for a new credit line is getting harder, Fed analysts warned.

According to a new report from the Philadelphia Fed, 3. 19% of credit card balances were at least 30 days past due by the end of the third quarter of 2023. That’s up from 2. 76% in the second quarter and the highest level since 2012. Just as concerning the percentage of balances that were at least 60 days and 90 days past due shot up to the highest levels since the beginning of COVID And just so you know, and I want to thank everyone that checks down below to see if they’ve been unsubscribed and resubscribed.

Because I’ve been told before that when I use words like Covid and pandemic and other words, they stop you and they’ve just been wiping subscribers off. This is how it works. If you don’t have the bell icon on and you don’t check to see if you subscribed, they wipe because they don’t want certain people speaking on this platform. That is the truth. So I thank you to everybody that sticks with me if you wouldn’t mind going and checking out the real estate ninja.

It’s another channel on this platform and it’s been doing a lot better. If you don’t mind subscribing to that, I’m going to be doing another video in a second about the manufacturing survey, which is also plummeting. It is crazy to me that it just blows my mind how most people watch the mainstream media and they’ll listen to the White House and everything’s fine, everything’s great. Look at my plans working, and it’s not.

This is not good. And if you’re one of those, oh, you’re a doom and gloomer, please never watch one of my videos. All I’m doing is reporting the news, reporting facts. This is what’s happening. If you like being lied to, this is definitely not the channel for you, type one, if you guys agree with that. All right, now it says here all stages of delinquency rates now exceed pre pandemic levels for the first time.

Why is that important? Okay, I’ll tell you why. Because the pandemic, the governments around the world gave all this stimulus and aid and gave people money for nothing to fall under that plan. And then they turn around and we’re now, because there was, like, barely any delinquencies. We’re now at those rates before that, and it’s going to get worse. Everything during the shutdown exacerbated the problems of 2018 and 2019.

Most people didn’t even realize we were headed for a pretty big recession in that time frame because they were completely deceived by what happened from 2020 to 2022. Um, in even more bad news, the fed researchers found that only 33. 18% of accounts paid their balance in full, suggesting that one in three Americans now are carrying a balance every month. Interest rates have skyrocketed. This is not the time to be carrying balances on your credit cards.

There is so much distress in the markets, it’s crazy. That’s why we started that other channel. And we’re trying to bring information on how to get out of debt to the masses because this is a trap. It’s a debt trap that is going to enslave millions and millions of people during this next recession cycle, and they’re going to lose everything they have now. When they talk about there’s now one in three Americans carrying a credit card balance, they said that’s the highest level since 2020.

Since 2020, the share of accounts making the full payments has moderated, driven by strong consumer spending and dwindling government support, the researchers said. Greater consumer fragility, as the Fed described it, makes banks think twice about granting new lines of credit. According to the researchers, banks rejection rate today is the highest in the past year. Please understand that the economy is 100% driven on lines of credit. End of story.

When credit contracts, so does the economy, and things go bust. I wish desperately more people can see these messages, but in a day and age where your voice is only as big as it can be sent out on the radio waves or the Internet waves, they got you. I thank you to everyone that’s stayed subscribed and always clicking that icon bell as it’s taken off. Because the truth is there are people that do not want this information out.

And this is just me reading other news stories that honestly, even some people in our government want completely taken away. They want it gone. This website, zero hedge was at one point it was listed as one of the greatest threats Congress was viewing to our democracy. It’s because they’re sharing the truth. What’s going on behind the scenes, and it’s hard to stay quiet. Now, it says here, while experts generally agree that rising delinquency rates are a source of concern, they’re split on how bad the problem is and what it says about consumer finances.

I don’t know how you could be split when people are. The delinquency rate is slowly increasing and slowly ticking up and the percentage of Americans that go from paying off their stuff every month to they’re behind in payments, there’s no split there. Nicholas was asking a question. We have a super chat. He says, do you think there will be better opportunities to buy raw land? Prices have gone insane on land lately.

Will land crash with everything else? I could tell you this from experience. I sold a lot of lots when I was flipping properties back in 2003, 2005, and lots collapse in value when the market drops. And the reason why is because people don’t have the massive down payments it takes to buy land and develop it. Land always has usually a higher percentage down payment with it. And so when people have less money, like we’re talking about right now, they have less money to go and develop properties.

There’s a point where it gets cheaper to just buy a house already built than to go and build one yourself. Those cycles follow a little bit later in a real estate cycle, they follow a crash, usually about six months late because of permitting times. It blows me away that most people can’t see this. I believe right now, like I started the video with people being scammed and robbed.

I have to think that there’s something even more nefarious that these Internet providers, these people that own these platforms are part of it. It saddens me that there are people that want to know the truth, that want to lead a good life. And they’re good people. The subscribers of this channel are the most amazing people in the world. They are people that think about things that are much bigger than their circumstances.

They are people that care about others and I hate to see them getting scammed again. I will never, ever invest your money for you. If you’re trying to buy one of my courses, especially at real estate course, I stopped selling that at the discounted price. And now scammers are out there selling fake courses that they’re not even a course at all. They just take your money and run away.

It’s sad. Don’t ever give someone in this comments section any money. They’re not me. They have my emoji. They’re not me. If you would simply look at the username, it doesn’t have a check next to it. Who becomes the fool? Honestly, the credit situation in America is getting worse. It’s going to get worse than it already is. I’m going to go over to this other channel, the real estate ninja.

It’s been doing a lot better. This channel is on the timeout box, penalty box. And as you can see, I’m not stopping sharing the truth. I’m going to go over there and talk about the manufacturing index and what’s going on over there. If you wouldn’t mind following me over there and hitting the subscribe button, I would appreciate it. And again, thank you to everybody that keeps hitting their resubscribe button.

I know it’s frustrating, but I really appreciate it. And to everyone that has the bell icon so that they get the notifications, I appreciate that too. But I just want you to know that everything is not awesome. The White House has not succeeded in their plan to skirt an economic collapse. They are papering over it. They’re assaulting the nation with loan payoffs. And there are a lot of people that are hoping that it’s going to come to them, that it’s not going to.

If you’re not preparing your financial arc right now, you’re going to be in some big trouble. And I just want people to be ready. I want you to be able to take advantage of the opportunity, not be a part of the catastrophe. All right? With that being said, thank you so much for watching. Do not give any scammers any money. I’m not in the comment section asking for money.

And just so you know, unlike other YouTubers in this space, I don’t ask for PayPal donations to support me. I don’t do that. I’m not about that. It makes me sick to my stomach when these stock gurus that think that tell you they’re so awesome, they ask for money. Or these prepper guys that are asking for YouTube stuff or PayPal donations. I sell a product to make money.

I want to give value to someone. I’m not begging for money. It makes me sick to my stomach. That goes on. But hey, no problem. The algo likes sharing their stuff. The beggars. Hope you got something out of this. The economic ninja is going over to the real estate ninja right now and going to do a video. Thank you so much for watching. Ninja is out. .

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