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you as well as other financial news including the Fed and some finally progress on the Eid elgrand program along with some other money-making news today is June 10th it is the afternoon of June 10th thank you so much for tuning in let's get started some of you been asking Kevin dave and buster's had a little bit of a pullback along with the airline's retail and all of the entire recession stock sector everything pulled back should you sell should you buy now should you wait what should you do my answer is it's better to be in the market than wait outside the market so I bought more Dave & Buster's shares today you can check out my full 20 minute break down on that in the link below if that interests you I did not sell a single Dave & Buster's share because to me as I said in that video it is a three to four year play and I have high expectations for the company over the next three to four years but the next months the next six to 12 months are definitely going to be rocky now tomorrow that company does report earnings which means the price again could fall or rise 10 to 12 maybe even 15% it depends if it goes up I won't buy more if it goes down I'll buy but either way I'm not selling now yesterday I brought to you that Kevin Hassett and the Wall Street Journal just reported that the next stimulus package was very very likely which of course has now been echoed throughout the entire YouTube community it's okay I'm not mad I love you all for coming to me and listening to whatever insights I can give you however there is still a lot of concern over the next jobs report coming in July that is a lot of you in the comments are saying this next job report it's probably going to be good is that going to destroy the odds of the next stimulus package well as we mentioned yesterday Kevin Hassett says we're still going to do another round of stimulus but I wanted to add to this my pov even if the numbers are good we know Kevin Hassett from the White House says we're still gonna do another round of stimulus but my POV is look the numbers have no choice but to go up because they're so bad right now and any gains are going to look better than the massive losses we had in April so I wouldn't necessarily be too anxious over the fact that yes the July report is probably going to be better I think no matter what our hopefully as especially since this recession has been crushing people least able to bear it all those making under fifty thousand dollars a year I do have the belief that Congress will eventually see this and come around to that and they're not going to let the jobs data silence their impression of helping the people that's my I mean maybe I'm overly optimistic here because I know the last two months have been extremely frustrating with political bickering and infighting and the reality is we need help now not in two months in the meantime the most important thing that we could do right now is not fret over the jobs numbers or what the data is going to be the best thing we could do right now is focus on bettering ourselves what can we do to increase our knowledge start a side hustle start a 3d scanning business become a lender become a real estate agent increase your marketability for a job have you brushed up your LinkedIn portfolio have you started a side hustle have you gotten educated during this quarantine have what can you do to learn and build your knowledge because that is going to help you succeed you got to focus on increasing your income the investing stuff can come after that which yes Tesla shares did cross $1,000 today per share that is my largest holding if you want to see the stocks that I would recommend for entertainment purposes only of course not financial advice if you want to see the stocks that I would recommend you buy type into Google or not Google like the search bar or the address bar met Kevin comm slash stocks 610 that's 610 that's today's date right June 10th so met Kevin calm slash stocks 610 and you'll see my portfolio recommendation for today it'll give you a mix of Amazon of Tesla of Dave & Buster's and some of the other stocks that I'm excited on right now my goal is to create this balance because you don't want all recovery you know Dave and Buster's and Airlines and retail you got to have balance - you gotta have some tech you got to have some Tesla you got to have a little bit of everything growth AT&T JP Morgan right you'll see those things in there check it out and don't worry if you're discouraged because Tesla is now over $1000 remember you can still buy Tesla shares using fractional shares with m1 finance go to met Kevin comm stocks 610 and you'll learn all about they're also by the way Lauren posted a new vlog and I look so different in some of the clips in that because it's uh well you got to check it out she exposes how I missed our second son's birth that sounds really bad because it's like wait you missed your son's birth because you were vlogging for YouTube that literally that sounds like a really bad headline okay but go check it out check out Lauren's video she did you put a lot of work into that last night so definitely a show Lauren some love now in May the Consumer Price Index which measures inflation came in at 1.2 percent it actually edged up mostly because food prices have been going up but honestly this is a little bit better because I was really worried that we're gonna see inflation drop below 1% which the closer we get to 0% the more it's a sign that our Federal Reserve even though they're flooding the market with money isn't functioning the fact that we saw a slight edge up is a sign that the Federal Reserve is keeping us away from that deflationary spiral that would be very very bad which I want to make another note here I think most of you know that I do whatever I can to give you insights into things that other people aren't looking at so look we already know what the Federal Reserve did in terms of rates a lot of us do I'm gonna reiterate that in just a second but what's more important is what he said in the questions and answers and something big that he implied and that's the kind of stuff I hope you subscribe to the channel for and like the videos so thank you for that let's get into exactly what he said oh yeah and of course sign up for we will get your life insurance and check out the programs below I'd like my boss makes me say this every time Oh I'm self-employed taking a whole Kevin digging a hole let's move on ok so here's the scoop Jerome Powell was directly asked should we expect a $600 a boost the unemployment boost to be extended or would you recommend extending that he was directly asked that and what's interesting is how he responded first of all you already know mr.
J Powell is like the cheerleader for more stimulus we know that he has demanded Congress do more stimulus in the past well now we have him responding by complimenting how great the $600 boost was and how great the PPP were and how innovative and effective they were yeah they had some problems but these were great in novel programs those were his words dogs were keys or it's okay like whoa and here's the important thing beyond him using those words to describe it then he goes into the oh crap I gotta be political up yeah yeah it's it's possible we'll have to do more it's possible law Congress will have to do more it possible people have to do more but then he said but I'm not willing to advise on that not publicly at least so in other words he thinks the program's innovative novel and effective it's been useful he's demanded stimulus in the past and he's willing to talk about it more privately which means he's willing to go to the White House and Congress which he does and when they have their private meetings you know he's there this guy's working all the time and you know he's the guy at the table with like his bib and the fork and knife gun I want more stimulus that's my belief just based on everything is said knowing he's an economist he is on the side of more stimulus so to me that was a very clear indicator that he believes you know the $600 boost is actually a good thing it's giving people the liquidity that the stimulus checks were a good thing he used the word stimulus checks now he didn't say let's have more stimulus checks but he's reiterated how effective those have been and that's really really really good to see from mr.
Jerome Powell the dude with the money printer ik a fact that he's constantly applauding stimulus very very good which this was actually reiterated by Jerome Powell because he said that look we don't target groups this right here huge he says we realize that our actions benefit people in the lower end when the labor market is tight we want to get back to that wait a minute what he just said do the inverse of what he just said the stuff they're doing now when there's high unemployment benefits the rich we want to get back to the labor market being tight which benefits people who are wealthy and people who are in the lower end so Jerome Powell here nearly realizes that he cannot provide direct stimulus to the people who need it most and when you put these things together this was a big fat speech once again demanding more stimulus by the Fed this is very very very good now in terms of action The Wall Street Journal expected that the Fed would temporarily put a potential cap on Treasury yields I broke down how that would work in another video you could see it from a couple days ago and we talked about that but instead of capping yields they said they would keep rates at zero without any kind of caps on Treasury bonds don't worry if that sounds complicated basically they're trying to keep rates low and they the Wall Street Journal did say that the Fed was likely to provide guidance saying that rates were going to stay low until 2023 and the Fed actually came out and said that they're going to keep rates low through at least 2022 so the Wall Street Journal was again very very close to reality they consistently seem to have a leak inside the white house or or the Federal Reserve maybe it's Jerome Powell himself that's what he means by talk privately I talk privately with you Wall Street Journal reporters I you got it you gotta find out in any presidential administration where the leaks are and then you got to go there all right now there's been a lot of talk about refinancing poof talk about real estate investing my gosh that's what I do okay sorry that that probably seems really corny no here's the thing should you refinance right now I get this question over and over again I've refinanced more in this year than I have in my in my entire life because I am taking advantage of these ridiculously low rates however watch my video where I broke down my stock portfolio I'll link that down below as well and you'll see that I actually refinance because I have purpose of buying stocks and buying real estate if you refinance and you just lower your rate that's great but if you're going to refinance and take cash out please please please please do not take the cash out and go buy a boat-car clothing or butter butter is basically just crap that you don't you know but stuff that you want right or a new car like even though you buying a Tesla would help my Tesla stock I do not wreck men that I would rather see you use that money and build wealth buy stocks buy real estate very very very important focus on building your wealth first you don't want to be stuck in a situation again where you don't have that flexibility because you don't have assets you took the money that you had and you've spent it on other things like some people will actually refinance to pay off their credit cards now their credit cards are paid off and then they fill up their credit cards again it's a big mistake there's so many I could talk to you about I got a whole course on money and managing money I could talk to you about the psychology of money for probably 40 hours straight without without a break I don't even need a bathroom break okay so passion anyway if you have not yet consider subscribing the channel but let's get into some more information here the Federal Reserve also announced that they were going to be increasingly buying more bonds which don't worry so much about that this was kind of funny one of the reporters replied and said hey uh you know you guys keep saying that your job is to promote stability have you looked at the stock market or what's going on in the marketplace or economy that was a hilarious question like I thought that was like priceless like that was so on point and he's like well you know we're trying to banks are stable credit markets are stable but yeah we have work to do but asset prices aren't our job like his job isn't to make the stock market go up but come on let's be real he does all right in other news the Eid L grant program remember this this was like the extra 1,000 dollar stimulus track if you had a side hustle or you were a small business well two days I'm probably still right now Marco Rubio and a group of other senators are literally grilling the administrator of the SBA I hopped in and listened to you know I went around and listened to as much as I could this morning and I heard them bluntly ask her why is it that and this is the administrator of the SBA why is it that when the PPP money ran out people came to Congress and said we need more money for the PPP and we gave them more money why is it that when the Eid L money ran out you guys said well instead of giving people ten thousand dollars let's just give them a thousand dollars per employee why did you do that rather than just come back to Congress and ask for money what's wrong with you this remains to be seen what the results of this going to be but I do want to say this is one of the reasons I have hope now I know how terribly hopeless many of us can feel right now in in this pandemic and I want to sympathize with that as much as I possibly can the issue is very real we see the media every day of our representatives saying wait and see while we're suffering and it's almost like we have to go digging to see the signs of hope so I hope I hope I hope my hope is not creating false hope I hope I can convey I'm saying hope way too much here all I want to say is it's very very good that the Eid el is finally getting pressure from Congress this means even though it took a month the help is slowly coming at least starting to things are moving in the right direction right now despite coronavirus cases jumping larry cudlow the director of the economic National Economic Council has said this morning that he sees any ability in the future for coronavirus second waves or whatever to be able to be fought without having to shut down the economy again and then he went on to reiterate some of the same things that we have heard before and this is especially pertinent now because we are seeing some spikes in certain areas that have reopened but he did reiterate when asked directly what do you think about that phase four package he reiterated the same thing we've heard before but it's good that these are still front of mine return to work incentives payroll tax holiday amending the $600 plus up that's big he said amending the $600 plus up he did not say eliminating the $600 pandemic unemployment boost very very good he said we will have some kind of assistance or credit for a return to work he said we will have that infrastructure spending was a possibility maybe restaurant reductions maybe tourism deductions maybe a cap on capital gains maybe on shoring so firms can come back to America but it will happen after July 4th a lot of updates today I mean this this has been a very update full video I really hope you appreciate it if you do t's totally ok to vent let me know what your feelings are because I incorporate your questions in this video so when you have questions about what should I do with stocks what should I do about real estate I try to answer those in the videos when I can or sometimes I can reply directly to you so thank you so much for being a loyal member here remember to get your two free stocks with weevil deposit just $100 with weevil and check out my programs down below I go alive every morning the market is open at 9:00 a.m.
to help answer your questions on a private live stream thank you so much everyone we'll see you soon
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