High interest rates, inflation, and government debt are causing widespread financial strain across all income levels, with credit card delinquencies reaching 15-year highs and even high-income households accumulating significant debt; effective financial management requires tracking expenses, reducing unnecessary spending, maintaining emergency funds, and using cash to better understand spending patterns.
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Deep Dive
IS THIS THE REAL REASON FOR DATA CENTERS?Added:
Hello again everyone. Hope you are well on this Saturday afternoon. Kind of late afternoon. Got Miss Dog with me.
>> Hello.
>> We are out and about running around. We made a Costco run earlier.
God help us. Uh well, we already got it done though. So, and uh grabbed a bite to eat somewhere. So, we're, you know, we're making runs. We're making uh doing some errands.
>> Saturday errands. got to do it.
>> Yes, we did. We uh you know, people buying stuff. I mean, you know, when you're in Costco, though, that's what you're going to see. People are going to be grabbing all kind of stuff, throwing it in their carts and big items.
>> Mhm. you know, but I believe that overall I think um I think a lot of Americans, you know, not not all Americans, but many many Americans are pretty much tapped out, y'all. And on top of that, they're tired of getting the bill from all the other spending that they ain't doing, all the money that's being printed and everything, you know, the all the stuff.
I won't even go into all the details, but I was looking at a zero hedge article, y'all. It's called the American consumer is piss broke. That's that's the title of it. This was published uh yesterday on the 29th on zerohedge.com.
And it makes some pretty good points.
Now, before I go any further, I have a terrific passage of scripture I will share with you towards the end of this video. Also, I saw a post yesterday. I can't even remember which social media it was. It might have been Facebook or YouTube.
Might have been YouTube.
But it said that uh we know they have deep underground bunkers. Now, we're talking about like the elite, you know, the powers that be or powers it shouldn't be and all that.
We know that they have deep underground bunkers.
Safe, you know, safe for them, I guess.
So, what if all these giant what if all these giant above ground data centers aren't for the internet, but actually power plants keeping their hidden cities running underground? Just a thought. I didn't thought about it that way. I I mean I mean, what do y'all think?
I mean maybe the data centers are powering.
So bas basically they're powering all this stuff they've they've built underground. I guess this you hear all kind of things about deep underground bunkers cities and all this kind of stuff.
>> But they're not all in the same places though.
>> They're not. They're all over the place.
I've heard they're all over the country.
Um >> cuz I don't think there's any south any any bunkers in South Georgia. There's tons of data centers in South Georgia.
>> There's tons of data centers everywhere.
So, but but they're going to cover every grid of grass or dirt in the country.
>> Mhm.
>> Water, everything.
>> It's an interesting thought. I don't know. I mean, I don't know if that's the case. Who knows? But when it comes to data centers, I think it's just much more dark. I think it's I think it's mostly probably surveillance. I I think that's mostly it. But why do they need so many? I still wonder why they need so many, you know.
>> Yeah. Somebody somebody said China doesn't have that many and they have more people, >> right? China is heavily surveiled as surveillance >> and they don't have as many people as we have. I mean, they have more people.
>> They have more people.
>> And more people >> and they don't have near the number of data centers.
>> No. Something something else is going on.
>> It's got to be something beyond just surveillance. I believe I believe you too, don't you?
>> Yeah. It's something something nefarious.
>> Definitely. Because they don't want to tell you anything that that that that's the first thing. It's like, well, they're going to be that tight lipped about it and I'm hoping that Mustang doesn't hit us. Um >> anyway.
>> Anyway. Um, but so if they're uh that tight lipped about it, it's it must be something they don't want us to know, right?
>> Mhm.
>> The American consumer is piss broke. And I believe I believe that. Not all, most of them are. Um, this is where you get your daily dose of doom from dog here.
>> Dog doom.
>> Dog doom. Giving you the doom that I know you want. All right. I know you want. This is dog doesn't want it necessarily, but I know a lot of people do.
>> Got to have it. and you got to have it.
Uh consu American consumer is overall the American consumer is tapped out y'all.
Um Wall Street Journal highlighted how prices and the highest interest rates in decades have pushed even relatively highincome households into financial distress. One example is a hospital operations director that makes $200,000 a year who accumulated $15,000 in credit card debt with a 26% interest rate.
Y'all, despite making the minimum payments, the balance barely moved.
That's what happens.
>> I thought we were supposed to get 0%.
>> We were supposed to get 0% uh interest rates for a while.
>> Yeah, temporarily anyway.
>> For a year, I think. Yeah, that didn't happen.
>> It didn't materialize.
>> No, among other things.
>> Among other things, I could there's a I was almost at a really bad word.
There's there's a a laundry list of things, you know, the Doge check, all the refunds, and all that stuff. I don't know. Anyway, I won't digress too much, but the people that are definitely tapped, but yeah, $200,000, you're making $200,000. You accumulated $15,000 in credit card debt, 26% interest. If you're making minimum payments, it's not moving. It's not going anywhere.
Now, I think a lot of this is people, you know, there are a lot of people who try to keep up with the Joneses. I, you know, that is part of it. But I think a lot of just average Americans are, you know, their wages and incomes not keep nowhere near keeping up with inflation and nowhere keeping up with these high prices, y'all.
The government, I mean, let's think about it. The government is is broke.
They're printing money out of thin air.
They're printing. They're 39 trillion.
We're over 39 trillion dollars in debt.
Then you got the conflict overseas in the in the Middle East. Reports are that they've depleted most of the missiles, y'all.
That's why I think that's the only reason they haven't regain uh restarted hostilities already. They're trying to rearm the American side.
They've depleted. I heard one report that said they got the 30 they only got 30% um of their normal number of missiles out there cuz they used up so many because they thought it was going to be over in like a week and it ain't anyway.
It ain't over.
>> What was it? Two weeks.
>> It was about two weeks or so.
>> Yeah.
>> Or more as far as the actual attacks and stuff.
But you got that you got a draw down of the n of the uh national strategic petroleum reserve of oil. Uh if the straight of Hormuz is not open up soon y'all, we will see a direct impact. We probably already are. Now, one thing about that, we were talking about this earlier.
Gas prices here have actually come down a little bit. I mean, negligible, but they've come down. They're under $4 a gallon here.
>> Barely.
>> I mean, just barely. I mean, there's some places, you know, like your Walmarts about 355.
And when we were at Costco earlier, it was 340 something.
>> Mhm.
>> It was 349 or 348, something like that.
>> Mhm.
>> I haven't seen it that low in a month or so at least.
So, so if we're almost out of oil, so please, please explain this to me, y'all. Now, I'm not a I'm not an expert in the industry. So, if we're almost out of oil and we're about to get short of oil on the shelves, why is gas going down?
>> Well, our gas tax relief ends on Monday.
>> I thought it was already over.
>> I think it goes through the 31st.
>> Oh, okay.
>> If I'm not I think it goes through >> I thought it was over after after the holiday. Well, yeah, but that was just Mon last Monday. So, I'm thinking they maybe maybe it's through the 31st, but I may be wrong.
>> I I don't know. That would explain part of it here in Georgia and it'll pop up there if that's the case.
>> Yep.
>> In the next day or two. But >> still, I don't know. What do y'all are y'all are y'all seeing gas come down where you are? You know, even a little bit.
>> But that confuses me. I don't know what's happening. Uh I don't know. I don't understand that. Maybe I'm missing something.
But this this key waterway, the the straight of form is is nowhere near being open. And and it it is not and it won't be for a long time, y'all. No, >> it won't be. And and and so I think a lot of people, a lot of the normie normals are under the impression that since we supposed, you know, that we produce so much oil that we will never run out. They don't understand the reality of this. So by crushing demand they're going to raise prices big time not just fuel but everything else of course. So we need to prepare keep preparing accordingly. But um said that uh let's see percentage the percentage of credit card balances that are 90 days plus delinquent climbed 13% in the first quarter.
The highest level in 15 years y'all. and the worst reading since the aftermath of the 2008 financial crisis. Total credit card total credit card balances reached a record 1.25 trillion for a first quarter, while average credit card interest rates have surged from 14.6% and early 22 to roughly 21% today, y'all.
So much for some relief from that.
>> Yeah.
Delinquency rates have risen across low, middle, and high income households, y'all. In other words, this is no longer just a lower income problem. The financial strain is moving up into the in in the moving up the income ladder, which fits perfectly with what uh they've been talking about for the last several months.
So, I think in a lot of cases, people they're they're trying to keep up with their their lifestyle, you know, and so their wages, their income is not keeping up with inflation and the high prices.
So, they're putting more and more on credit cards. They say they'll worry about it later. But that's a big trap.
That's a big problem. um you know so um cut expenses where you can you know um subscription services the delivery stuff the Door Dash stuff and I know a lot of y'all probably don't do that but if you're if you you know check your subscriptions your um uh auto the auto pay stuff that you're you're that is being taken out look at your bank what's coming out of your bank account. You may not be even needing that stuff anymore, you know. Um, shop stuff like your uh shop around for insurance rates and that kind of thing.
Might be able to save a little bit of that way. Put a little bit of say put a little bit aside for emergencies.
Um, that way even a you know a flat tire doesn't ruin your whole month. You know, track your spending daily.
Track it. You know, I think a lot of people just even if it's a debit or cash, they just throw it out there. They don't you don't really realize how much you're racking up in one day sometimes or a weekend. It's like you sit down at the end of it and it's like, "Oh my goodness." You know, >> you just use cash more. You know, it feels different when you pay with cash than it does with a card.
>> Yeah. It goes quicker.
>> Keep Yeah, it goes quicker. Cash keep cash on you. Keep some cash out as well, you know. Uh definitely. You got any any uh >> Sorry, I'm trying to keep trying trying to keep the text thing quiet over here.
Sorry.
>> Um student loan delinquencies have also exploded as higher uh exploded hires repayment obligations returned. Credit card delinquencies have surged past surged to post financial crisis highs, y'all. But yeah, I think a lot of a lot of just regular normal people are tapped out.
But but like this article says, it's not just the lower middle class or the lower incomes. It's the middle and higher the the higher middle class.
>> Yeah. They struggling now.
>> They become regular middle class.
>> Yeah. They they've just got knocked down >> and middle class is now lower middle class and everybody's just getting knocked down.
>> You're getting knocked down to where you ain't no class, >> right? You just you're poor. We're poor.
>> Everybody's getting knocked down from wherever they were.
>> We're all headed to poor. And I think that's the goal. That's the goal of the of the um I don't know, whatever is ruling us. Uh I don't know what you call them. Technocrats, um elite, evil, devil, uh you know.
>> Yeah. All that and some other things.
and some other things for sure.
>> I know.
>> Yeah, we we did look at some prices.
We were in Walmart earlier and >> Yep.
>> Compared to other stores, Walmart still seems to have the best prices and >> more people are going in there, I think, that used to not go in Walmart.
>> Walmart. Yeah, you you definitely are seeing some >> Yeah, you're seeing some people in Walmart that you wouldn't expect to >> Yeah. Well, this was a Walmart market, just the small one. But still, >> that was that was a market.
>> But still prices are the same as the big warm one, I think.
>> They're about the same. Yeah.
>> Yeah. On a lot of regular items, they are they're just a tad lower.
>> Mhm.
>> A little bit lower than some others. Um most of the others like your Kroger's and your Publix and all that.
>> Yep.
>> But yeah, I I don't know. Um, >> they're seeing an uptick because people are going there that didn't used to go there.
>> Yeah, they are. They are. I read an article not long ago about how the Walmart is is definitely cleaning up because Yeah. I mean, people who normally only shopped at Publix or only Engles or whatever, they're working in some Walmart because they think they're going to, you know, are trying to save a few bucks.
>> No doubt. I know there are certain items we get there that we can't find at other places too, you know.
>> Yeah.
>> Or if we can't order it, you know, we just run in and get it and run run back out. It's a strategic >> um >> Yeah. Strike >> mission. Yeah. It's a strategic strike, but uh we don't like to hang around in there.
>> Get in, get out, >> man. Anyway, I guess uh yeah, let me know what y'all think, you know? I mean, is gas still going up where you are? I mean, because it's coming down here some. So, maybe I don't know. Maybe that'll change Monday.
I'll go ahead and do the I guess I'll go ahead and do the passage.
>> Okay, here you go.
>> All right, we are in Isaiah 1 verse 17.
Learn to do well. Seek judgment.
Relieve the oppressed, judge the fatherless, plead for the widow. That is the King James version, right?
And I've we talk about it a lot, you know, still seek to do well, seek to do good, be kind. There's nothing wrong with being kind, y'all. Be kind to give a word of encouragement to somebody.
Help somebody. Help a neighbor, especially if they're elderly or your or your folks or your family or, you know, check on check in on them. If they've been sick, check on them. You know, that kind of stuff, you know, as we would want to be treated, right?
>> Yeah.
>> Absolutely.
>> It's a dark, crazy circus of a world.
So, whatever normal thing we can do, let's try to do it. Try to be like it used to be, you know, uh, not that long ago.
>> Yeah.
>> I mean, things seem like they're so much different than they were just 10 years ago.
>> Mhm.
>> So different. The feel is different.
Time look seems like it goes by quicker.
>> It does.
>> Gasoline burns out of your vehicle quicker.
>> Mhm.
>> Um, it sure does. You know, wasp spray.
>> Oh, yeah.
>> I think we're getting cheated on wasp spray as far as shrinkflation, but the can looks as big as it ever did. But dang, I about three sprays, it was about empty. I had to use it this morning.
>> Yeah, >> those are just small examples. The tissues coming out of the tissue box are all jacked up all the time >> and there's less in the box.
>> That didn't used to happen.
>> I noticed when that happened a couple years ago.
On the bottom of the box, it says how many tissues are in the box and it's less than it. I had some older ones and I had the new one and there was less tissues and the box looked the same.
>> Yeah, the box looks the same.
>> But on the bottom it says how many are in there, >> man.
>> Yeah, >> chips. Bag of chips have a lot of air on them. Most of them. Not all of them.
Some are okay.
>> But we found ketchup.
How much was that in Costco? 2 lb containers. You get three of them for what was it? I can't remember now.
>> I don't know. But it was a good deal cuz you like ketchup.
>> It was almost the price of one in some of the other stores.
>> Yeah. And it was the good kind though.
>> It's like 11 bucks.
>> The good stuff.
>> 12 bucks maybe. It was good. It was the simply >> hind simple or simply or whatever. So it's no um >> no GMO.
>> No GMO. No, >> what am I trying to say? The It's better for you.
>> Yeah.
>> Yeah. Good for you, but you know, better than some.
>> Yeah. Yeah. And I'm not making my own ketchup.
>> We don't have time for that.
>> We ain't doing that.
>> No, we ain't have time.
>> It's not happening.
>> Maybe one day if we ever if we're ever able to retire, we can do more than we do now. But right now, we pretty much >> if we ever can retire, if we can ever retire, we might, you know, we might start making our um salad dressing, ketchup.
>> Mhm.
>> Mayonnaise. Probably not. But, you know, we might have more time to do it then.
Or we may have time to do a chicken or something. A couple of chickens. Have a couple of chickens.
>> But not right now.
>> We can't do it now, y'all.
>> We're tapped out.
>> It's No, it's just not happening.
Anyway, I'm I'm I'm rambling. Anything else you want to add to that or or for for or advice or um anything like that or what?
>> Do your things.
Do the things. Try to take take some time away from all the crazy.
>> Get away. Take a break from all the >> do something you like to do, >> the information that's flowing all around.
>> Just reading.
>> Treat yourself.
>> Going to a park.
>> Yes. Yeah.
>> Going to see family. something something that you like to do, make time for it.
>> Put your prayer requests in. And if you've been putting prayer requests in, give us an update. We appreciate it.
We'll keep praying for you. Anyway, we're going to leave it there.
Have a good rest of your weekend. Be safe. Stay close to Jesus. God bless you. We'll see you soon.
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