This is it and it’s a very dangerous cycle and you need to understand that economic cycles move up and they always move down and then they come back again. This is where you can actually make a ton of money. Hopefully it’s not too windy as I’m filming this, so I got the mic protector on. Let’s see how we can do. This story is out of CNN and it says Americans are feeling anxious so they’re doom spending. It says Kelsey Palm was feeling out of sorts as the presidential election was approaching so she did what many Americans do when they’re feeling anxious.

She went shopping. The Wheaton College Senior. Take that in for a second. Wheaton College. And her friend hit shops in Massachusetts the weekend before election day and while Palm prides herself on shopping responsibly, she wound up impulse buying a purse to ease her stress. Now this may seem like a little story here, but it’s not and I’ll keep going and we’ll talk about it. It was a new thing that made us feel like we had some sort of control over our lives. We can vote, but what else can we do? We can get a bag that’ll make us happy, she told CNN.

Palm is among the increasing number of consumers who cope with feelings of anxiety by doom spending. Now the truth is we all or hopefully you should all know, we should all know this. It is a true fact that during a downturn or recession or depression, alcohol sales and cosmetic sales do stellar. As a matter of fact, they usually pick up. The reason is, whether you’re a man or a woman, you want to feel good about yourselves during hard times and more people than not dive into either the bottle or beauty products to make themselves feel better to cope with what’s going on around them.

But I want you to understand more millionaires were made during the Great Depression than any time before and after that. Then we saw times like the Great Recession myself. I made a ton of money, even more money than I made as a real estate entrepreneur, a real estate investor in the early 2000s. That’s because so many people were doing this exact scenario. They were doom spending or they were buying things like alcohol and cosmetics products when they should have been investing in themselves. I’m going to throw this out there right now.

We’ve never done this, but I have a feeling there are a lot of people right now that don’t know which way is up. Their credit score is either shot or it’s turning downwards because they’re having a hard time making bills and they are going to miss out on this opportunity. I’m going to put together my two courses on credit score pro and dominate debt. Put them together for a price I’ve never sold them for, for $49. If you want the links down below because people need a roadmap. They need the ability to go, okay, what documents do I download, fill out? How do I set up my budget? How do I fix my credit? Because I don’t want you on the sidelines during this downturn when everyone else is doom spending.

All right, it says here doom spending or the practice of spending money to soothe fears about broader issues like politics or the economy shows up everywhere from YouTube and TikTok videos to Reddit to personal finance discussions and data in surveys. Gen Z and millennial consumers are more likely to say it is better to treat themselves now rather than to hold off on the future. That feels like it could change at any moment. This is according to an Axios vibe survey in June conducted by the Harris Poll. Now, just because we’re talking about millennials and Gen Z, I want you to understand this is the exact same thing that the baby boomers went through, that my generation went through when you’re younger and you start to see the future and you’re going, hey, I want a better life for myself, but it seems like the world’s against me, right? You tend to go and spend money in a way that would cause you to feel well, and you always look back as you get younger and you go, what in the heck was I doing? Why did I do that? So it’s not your your time, right? It’s not just because you’re a millennial or just Gen Z.

It’s because of your age. We’ve all went through that and people need to wake up sooner and be able to go, hey, that’s not my fate. That’s not what I have for me in my life. You see, the thing is, is it’s your choice. It’s not your parents choice. It’s not your friend’s choice. It’s your choice. Do you want to be successful? Do you want to be rich? If you want that for yourself, you need to get in control of your finances. You need to get that credit score up and you need to start working towards an amazing opportunity as everything comes crashing down.

Now it says here, why are we doom spending? It’s believed a third of Americans across all generations have a hard time rationalizing saving money due to feelings of uncertainty about current and future affairs and a persistent sense of economic pessimism is partly to blame. Well, in this day and age with social media, it’s even harder to get by and cope because you’re seeing everybody living their best life. I mean, look, here’s the truth. I’ve never been out of the country before I started the channel. I’d only been to Mexico with my family once or no, sorry, I’ve been on a three day cruise, one of those crazy cruises down in LA to Ensenada.

And I’d went to Mexico. My father took us to on a Mexican seven day cruise. And so before I started all this, I went up to Cancun. Other than that, I never went anywhere other than Mexico. And still to this day, I’ve only been out of the country a few times. And so right now I’m in this incredible city in Portugal, Porto, and absolutely love it, but it took me decades of hustling and starting side hustles to get to where I’m at now. I have lived my best days in front of you. I’ve lived some of my worst days in front of you.

That’s the truth. But most people, all they do is put on this fake persona that everything’s amazing. And it’s harder and harder for today’s youth and young people to cope when they’re seeing all this amazing stuff. But I want you to understand, we are at the highest level right now in our country of people that are defaulting on Fannie and Freddie government-backed mortgages. We are at insane, the heaviest personal debt loads right now what’s going on. So you’re not alone. And I want you to understand that if you make some little changes right now, you’re going to change your entire life.

If you can pay off some debt or get all of your debt paid off and get that credit score up, I’m going to be able to show you in the next year, year and a half, how you’re going to absolutely explode in wealth. That is the absolute truth. You know, it was really hard for me. And you’ve heard my story before. I made my first million when I, through real estate, no paper million, okay? Totally different than being liquid when I was in my early 20s. But even then, we were scrimping and saving.

And I was working side hustles just to take my families on small vacations to Disneyland and things like that to feel normal when you’re all up against people around you that are spending money like it’s going out of style and running up debt on driving new vehicles when I’m driving a truck that the paint’s falling off. It was very, very hard. But here’s the thing. When it’s really hard, you appreciate it so much more. And if you will work right now to get ready for what’s coming, I can promise you, the ninja promises you that it will first be worth it.

And secondly, you will absolutely crush it. You need to change your lifestyle, you need to change your thinking, and then you will live like no one tomorrow and in the future. If you want that deal, it’s dominate debt and credit score pro it’s down below both courses are $49. I want to give you every tool possible to be a success. All right, with that being said, the economic ninja is out. [tr:trw].

See more of The Economic Ninja on their Public Channel and the MPN The Economic Ninja channel.