The US Labor Department is Revising Jobs Lower Again
August 28, 2024
Hosted by Ferenc Toth
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Episode Description
The US Labor Department has revised the jobs numbers down nearly every year for over a year. Now the government admits to inflating the jobs numbers by reducing the jobs numbers by up to one million over the past year. Many American consumers are supplementing their living expenses with debt. Credit card balance is at an all-time high. Credit card defaults are at the highest level since 1991. A recent Piper Sandler analysis states 2024 looks reminiscent of 1970 and 2021 recession years. The American consumer has more debt and less savings than in 1970 and 2021. Consumer weakness could lead to a sharper decline than 1970 and 2021, according to Piper Sandler. The Shiller cyclically-adjusted price-to-earnings ratio (CAPE), is a 10-year rolling average of the 12-month trailing PE ratio. The CAPE ratio has a remarkable ability to predict future returns. The CAPE ratio predicted the S&P500 returns over the following decade with 90% accuracy between 1995 - 2010, according to an analysis by The American College of Financial Services. The Shiller CAPE ratio currently predicts annualized returns of about 3% over the next decade. I believe the economy will get worse before it gets better. We are in for a rough ride. It would be prudent to protect your assets. Diversify. Reduce your risk. Reduce your tax liability. Increase returns safely. Increase liquidity to take advantage of future opportunities. You can invest in high cash value Your Personal Bank TM policies that are insured, with guarantees, income tax-free, highly liquid, and likely to increase returns for the next 5-10 years! Contact Ferenc at yourpersonalbank.com or 866-268-4422 for more info.
Your Personal Bank
Wednesday at 11 AM Pacific on VoiceAmerica Business Channel
Your Personal Bank TM is a financial concept that strategically integrates financial tools from the banking and insurance industries to continue growth on funds even when you access them for other purposes. Ferenc will share how Your Personal Bank can enhance returns on investments, including real estate, reduce the cost of borrowing, and safely create positive arbitrage. Ferenc will also share how the rapidly increasing interest rates will likely increase future returns and positive arbitrage.
Ferenc Toth
Ferenc is founder of Your Personal Bank TM. He is passionate about helping people gain control of their money, create tax-favored income, and having access to more funds over their lifetime! He has a knack of explaining complicated financial concepts in a simple and easily understood manner. Ferenc gets people to think and empowers them to better understand the financial tools they are considering. He actively educates for financial literacy. Ferenc’s company continues growing rapidly with over 5000 clients and a dozen advisers. Ferenc has personally advised over 1000 clients and mentored many advisors over his 20+ year career. Ferenc has been and is annually recognized by several financial and insurance institutions as a top advisor. He has been honored many years as a top 10 adviser nationally. Ferenc is a General Agent. Unlike most agents/advisors General Agents work directly with financial institutions and typically have an extensive level of experience and knowledge. Ferenc proudly served in the Fife and Drum Corps, 3rd US Infantry, “The Old Guard”, US Army. The Old Guard is the Army's official ceremonial unit and escort to the president. The Fife and Drum Corps is one of the premier musical units in the US Army. Ferenc performed in many ceremonial functions at the White House and various events around the country including the Indianapolis 500 and Kentucky Derby. Ferenc is a semi-professional bass trombonist. He performs in various groups including church orchestra