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On Today's Episode:
Here's how the second-biggest bank collapse in U.S. history happened in just 48 hours. Silicon Valley Bank closed its doors today. Within 48 hours, a panic induced by the very venture capital community that SVB had served and nurtured ended the bank's 40-year-run.
Regulators shuttered SVB Friday and seized its deposits in the largest U.S. banking failure since the 2008 financial crisis and the second-largest ever. The company's downward spiral began late Wednesday, when it surprised investors with news that it needed to raise $2.25 billion to shore up its balance sheet. What followed was the rapid collapse of a highly-respected bank that had grown alongside its technology clients.
You are not alone if the recession has you nervous about what to expect. People have real concerns about whether or not they'll be able to afford groceries, gas, and even rent!
For sure you've heard that millionaires are made in recessions, but how?
Jaspreet Singh is joining Tom for a second time to get you up to speed on what it takes to get wealthy during any recession. Jaspreet is the Minority Mindset guru and Chief Money Nerd at Minority Mindset Companies. He's been creating financial education videos on YouTube for years and is breaking down all the reason you don't have to be scared during a recession
Jaspreet is a voice of reason to remember that recessions are only bad or good in relation to which side of the equation you are on. This is a must watch if you're trying to find the best route through a recession that has most people nervous and panicked.
Follow Jaspreet Singh:
Website: https://theminoritymindset.com/about-us/
YouTube:
/ @minoritymindset
Instagram: https://www.instagram.com/minoritymin...
Twitter: https://twitter.com/minoritym1ndset
Facebook: https://www.facebook.com/MinorityMind...
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@marydowd1332 Says:
Hello do you think America will go into digital currency
@marydowd1332 Says:
What's the brick companies setting up their own money system what happens to the dollar is the dollar worth anything what happens to my money in the bank will it be good will I be able to still use it
@liambarella5437 Says:
One year already passed ...... Nothing happen
@VoiceCrypto Says:
I wish I could block a channel. I'm tired of youtube feeding me this
@CharleneJudd-f7x Says:
1:46:11
Spy
S&P 500
Brokerage account
Automated
@inwiththenew Says:
One of the most interruptive hosts... I've noticed this several times and this is the last time I can bear to watch. I check in to hear the guests talk freely, not listen to a tutoring session for the host. This is more for a personal convo when you as the host are trying to understand topics - not when you have an audience watching. The constant interruptions and sidetracking are incredibly frustrating and irritating.
@brianspiegelhoff9779 Says:
You’re welcome. Great guest.
@MrLittlecat123 Says:
Suddenly sparked my understanding! Lending money is like MLM! Who stand higher would earn more and the one at bottom would lose money! No matter what... most would lost money! When it got much worse, the bubble would just POP! Damn! Stocks and housing still inflating...
@PonziZombieKiller Says:
This dude was talking people into buying the sheet for years... Scamming POS
@bobbymainz1160 Says:
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
@SophiaChristian-so2of Says:
Honestly, I'm unsure if investing is a wise move right now. Take note of how frequently things fail. As I still have some time before I retire, I'm still looking for a better strategy to invest my money despite reading charts and predictions from well-known investors from the past and present. In order to generate passive income, I want to build a solid and reliable portfolio.
@AdrianButler86 Says:
Jaspreets fu$%ing knowledge of the US monetary system and the economics is incredible for someone who didn't specifically go to skool for a MBA or finance type of degree. Love the guy for long time. Hes a great educator
@darnellcapriccioso Says:
First SVB, then signature bank and now first republic bank, these are all the signs of yet another 2008 market crash 2.0 , so my question is do I still save in the United States dollar or is this a good time to buy gold?
@jenmolly8794 Says:
❤ this! I’m in banking 💯 right. I just want to add community reinvestment act regulations pushed on by Clinton administration forced banks to lend and the protection removed of the glass steagall act (great depression)
@area51entertainment80 Says:
Hindi
@citizensingh7725 Says:
Ps please 🙏 tell those broken government drug induced families how to make change who are trailer trash or undesirables . Not all of them can Rap or be a baseball star. Every child believes in them selves in your media corporate led USA. Please 🙏 do a video for the USA slaves who on zero hours contracts to change their lives. REVOLUTION is the only thing historically that I can think of or Scratch cards and lotto 😞.
@citizensingh7725 Says:
RFK JNR for the people who are 99.9999 % of slavelandary who are owned by the 0.0000001% is your last chip at the casino for survival as president till they take him out. The 0. 000001% own and run your government who are the biggest terrorist in the world and history proves this 100%. JFK JUNIOR MAY BE ABLE TO PROVIDE YOU BREAD CUMBS without killing your neighbour and given the chance to extend it to a loaf of bread. Don’t listen to this as these are the rich who are going to buy you and your family for nothing when the shit hits the fan. The majority live by the day and have nothing to invest. War war is the only investment you can make in USA. JFK jnr can’t save you but maybe your children future generations maybe be able to grow without War as $ business.
Get up stand up Stand up for your rights ( Bob Marley) and let live wherever you may be and USA doesn’t want to rape and pillage with my Chief permission any more . YOUR last chip at the casino JFKR JUNIOR FOR PRESIDENT.
WIll they allow you to place your bet ? Or ban you from the casino 🎰 😂
@StilKraljevski Says:
You still didn’t learn how to host the show. We want to hear what everyone else has to say. Not you. Talk less, and let the guest speak.
@danielrose542 Says:
Not just gold, a lot of people are buying up US dollars too. Hence the high dollar compared to other currencies. So I feel this guy is just sharing one side of the story.
@Donna115 Says:
Go into Bitcoin
@Donna115 Says:
I think crypto is the future, I’d suggest Bonaveststockfx than this so called banks that ran away with our money..
@dcoleman4444 Says:
Well, here's another question....There are many who understand how the world works, but are stretched so thin they have literally zero money to invest in anything aside from food and shelter. These are people who aren't out there spending recklessly, these are people working 50+ hours a week, driving a basic economy car and living in a tiny house-if even that. So, this advice is wonderful for those with disposable income, but what is some advice for the MAJORITY of American's who are living pay check to pay check? Thx.
@dcoleman4444 Says:
I wonder what's up with Tom ...he seems a bit on edge lately?
@Dalshin Says:
american economic wings will be clipped by Brics
@evzy1985 Says:
Awesome. Cheers for this video. Helped me out massively. I normally send over a small amount first to see if it arrives at the address. But too many distractions at home and I just sent it all in one go. Thought it was gone forever. All recovered now.
@khonhlo1476 Says:
Don't let the naysayers let you down. This country is the best country in the world. Our water is secure and land abundance. There's a reason countries in the Middle East are buying land in the US for food. We might go for 10-20 years of stagflation like but unlike Japan, we are rich in resources and people. The future might not look bright but with time the sun will shine again. Don't think the middle east or Asia will remain peaceful like in our youth.
Turmoil is just over the horizon across the globe and the US might be too busy with its own problem to care. That's what I am afraid of the most.
@muzinkosi8542 Says:
Thank you this powerful podcast Tom !!!
@neilbrewster181 Says:
Bullshit
@Afromontana14 Says:
Honestly crypto is quite profitable and lucrative I’d suggest Bonaveststockfx, which I think is more reliable than this so called bank that ran away with our money.
@bonniej0 Says:
Again, it's up to people to do what they want to do that's called Freedom😊It's not up to the government to tell us we can't kill ourselves or we can't do drugs. Those people that suffer in the hospitals with CANCER, OR OTH3R THINGS, dying very slowly WISHING THEY WERE OUT OF PAIN.they're helping people died in Canada if a drug addict goes in there and wants of diet will help them that's crazy but you know I think it's all right to do what we want with our bodies. And I don't think drug addicts are going to be out doing everything right in the open like that because like to be private about it and be like you know somewhere quieter hunched in the corner of an alley or something.
They're letting all these drugs and why do you think by now open the gate he's he's making a s*** ton of money off of the drugs coming into this country?
In a way it's enabling the addict to keep using if they give him a house, but then again it's keeping them off the street and away from everybody else and not out in the public you know?
@louisedost8476 Says:
Send too much money overseas!😝😝😝😝
@louisedost8476 Says:
🤔Stock market can crack and crash!!!!😮😢🙄😭
@louisedost8476 Says:
90 billion maybe one dollar in fiat money soon😂🤣🤣😝🙄😍😁
@MySkinnydip Says:
America is on its way out.
@dona_grace Says:
Did anyone notice that this wasn’t about actual Kenyans 🤷🏽♀️🤦🏽♀️
@Curbalnk Says:
Bad start to the year with these banks collapsing, META down 40k, ALLP down 35k, Draft Kings down 6k, NIO down 15K, ABML down 8k, and my wife doesn’t know. I'm just hanging on to Jim Cramer's words about opportunities in volatile times so perhaps, I either wait for a recovery or pick profitable investments to substitute for my loss.
@darwinmonzingo9738 Says:
it's scandal when companies from China undercut at a loss to take over market share. the ride companies like ubr does the same world wide
@davidgavney6711 Says:
Wait, they got $2000 checks in 2008? I thought that was for covid. The banks got bailed out in 2008.
I think the stimulus was $600 for individuals in 2008 up to $75K of income. $300 minimum for $3000 of qualified income. That’s not much if you lose your home.
Really enjoyed this discussion.
@grahamball364 Says:
This program has been a great insight into world economics. We are all going to have a hard time in the not so distant future it will take the world economics back to the time of 1928 and the wall street crash
When the USA dollar falls the whole economy will fall , countries and governments of the world should make greater efforts to find an outcome , total irresponsible .
This war need to stop 🛑 War .
@irony1881 Says:
There are two things that are infinite, human stupidity and the universe.
@TheOneanjel Says:
Isn't it illegal to print money on funds that don't exist?
@TheOneanjel Says:
I always admire people who bother to learn the accent when they learn a 2nd language. In US schools, the accent is taught as part of the instruction. Every person in high positions learned the accent. It's just so refreshing to listen instead of straining to comprehend someone from another country.
@regraymap Says:
White people are so full of it. You steal so many trillions on space, military, nepotism, and fraud (Fleecing of America) without oversight or recourse. You are so full of ish.
@theancientvoice9272 Says:
"Their" goal is to crash the system, don't a second they're not ahead of the game, they can't understand or haven't planned. They need to crash it, then propose alternatives the majority of people will not be able to refuse. Digital money and all
@oneoflokis Says:
The rich ARE evil: most of them. And the miracle WOULD be to redistribute some at least of all this wealth.
You are both wrong!
But I do think it would help for companies to RE-INVEST some of that wealth! 😏 And create jobs: INSTEAD OF HOARDING IT ALL OFFSHORE IN THE "TREASURE ISLANDS".
@oneoflokis Says:
You need to deal with all your greedy capitalist robbers, and tax your 1%, in the US. Same in the UK.
@oneoflokis Says:
Maybe you should tell your guy that IN THE UK, INFLATION WAS A LOT GREATER THAN 5% LAST YEAR! (2022.)
Of COURSE inflation has been growing higher than wages. 😏 But as to wages nearly keeping up with it in America?? YOU lot must be lucky!! 13.5% increase in wages versus 15% inflation? (Over the past 3 years?)
YOU would be lucky, to get anything as good as that in the UK. 😏 (Plus: ask your minimum wage earners, in the US. Did they get 13% increase over 3 years? Don't think so. 😏)
As for the UK: Inflation here definitely wasn't as low as 5% in 2022! 😂 & there are many people here saying they haven't seen a pay rise, or hardly any of one, IN TEN YEARS OR MORE. Including people like nurses and junior doctors. 😏 They've had ridiculously low offers of 2-3% "pay rises". (Aka pay cuts.) As have workers like railway staff. That's why they're all coming out on strike. They're going to need "raises"of 30-30% just to keep up! 😏
THAT'S why they're all going on strike, in the UK right now. ⚡️
The base inflation rate in the UK is currently 10%. Food inflation is supposed to be higher.
And kindly tell your "guru"that we don't want higher interst rates in the UK! BECAUSE they are wrecking OUR ALREADY BROKEN HOUSING MARKET! 😏
👎👎👎👎👎👎
@evilraskal5323 Says:
He’s right about america and silicone valley is the tech centre of the world. However, a lot or even the majority of American successful tech companies are Asian owned wether it be Chinese or someone else. However with the level of Asian hate going on there, don’t be surprised if they decide to return to their motherland and escape American since they’re often being targeted. If they all left, American wouldn’t really have much left. Especially when dissing Chinese folk. Those Chinese Americans are whom are holding you on their backs and keeping Americans still relevant. Especially after agent orange 🍊 became president
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