Empty Malls, Empty Stores | The Recession is Here | What I Just Witnessed

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Houston we have a problem i have a lot of images to show you guys here i’ve went out in the real world in the real economy the past 24 hours and what i want to show you i’m going to show you some photos around las vegas it is we’re in a recession there’s there’s no there’s not even like a question we are 100 in a recession right now these images i have to show you

Guys here today of being out there in the real world and the real economy is um downright scary okay and um all these have come in the past 24 hours yesterday on friday night i went out into the real world and grabbed some photos today i grabbed some photos on saturday and i it’s it’s startling that’s all i can say about that it’s so bad okay i hope you guys enjoy

Me kind of going to the real world and getting you guys some of this information and things like that and um showing you kind of what’s going on here i appreciate you guys joining me uh even when it’s very bad news like i have to share in this video so you know uh went to what’s called a fashion show mall which is the most popular mall here in vegas i went there

Last night and um you know it was it was interesting how much of a difference that mall is versus at this same time last year one far less busy but the the second thing was not just like less of people in it but i’m watching people walk around with nothing in their hands it’s like this is like window shopping so it’s like people bored looking for something to do

So let’s go walk around the mall but not actually buying anything and so i’m looking at this and i’m like where’s everybody spending the money at like like people literally just walking maybe with a drink in their hand or something like that but not actually spending any money if we rewind a year ago and you went to that mall people are like walking around with

Bag after bag after bag in their hands like there wasn’t window shopping going around there was like real shopping okay this was crazy to me i start coming up upon the louis vuitton store this store has had basically a line for the last two years they have these ropes and you have to go through the line you have to like sign in to go into the louis vuitton store

And whatnot well those days are long gone folks those days are long gone i go by this louis vuitton store and i look in there and there’s like a couple people like window shopping in there the the workers in there look kind of bored you know kind of looking like can you please come in and buy something um yeah the stimulus money’s gone it’s a whole lot of window

Shopping and uh even the window shopping is not very much now and uh what a difference what a difference in 12 months what a different even in six months what a difference but it’s just crazy to see you know they couldn’t you know those workers would look at you last year like oh great i got to sell another 4 000 bag to somebody now it’s like can you please come in

And spend some money right look at this photo of an apple store here okay look at this this is a massive apple store they have there this apple store was dead just completely dead by the way look at that look at this mall this is on a friday night you got to be kidding me like this mall is always crazy busy friday saturday sunday this mall is packed packed okay

Jam-packed and uh this is like a ghost town i mean complete ghost town and um this mall by the way is straight across from winning encore for those that aren’t familiar with the strip and uh kind of almost like kitty corner to the palazzo and treasure islands next door and whatnot but i mean just dead just completely dead apple store dead and you know what else i

Was noticing is i was noticing how f how you know many fewer workers are worth these stores because they’re not doing volume so i guarantee what’s cut what’s happening is apples i would almost guarantee you they’re cutting hours and i know you guys saw in the in the press release couple weeks ago oh apple’s raising uh you know how much they’re going to pay some

Of their store employees and things like that i almost guarantee you apple is cutting store employee hours left and right right now because i’m looking at how many employees were in this massive apple store and i was like that’s not very many because at the end of the day as a retailer right like if if you’re not doing the numbers if you don’t have those customers

Come in you start cutting hours you start sending if you as a manager of a retail store you start sending people home early and things like that and i’m looking out there and i’m like yeah there’s not as many people working at that louis stores there once was there’s nearly as many people working at this apple store as there was last year that’s the way it is right

That’s the way retail goes i keep walking in the small i look at the california pizza kitchen i’m like oh my gosh you know here it is it’s like dinner time and i’m looking at this place and it’s just like there’s no one sitting out there in last year at this time man all these tables were full all the tables inside were full place was jam-packed on a friday night

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Giving me a break and it’s just um it’s just like where where is everybody where are people not spending the money there’s like a johnny rockets right across which johnny rockets is not an expensive place obviously if anybody knows about that i look at this johnny rockets across there are three workers in the johnny rockets you know like uh two cooks and then

Obviously like person that works the front register or whatever just standing there just bsing because they literally had no customers like there were literally no customers zero customers of the johnny rockets and this is like dinner hour and um it was just always standing there just you know looking around like you know just bsing and whatnot because they

Got nothing to do i’m like holy smokes man i mean it just it’s it’s insane to see when and see how fast this is all playing out essentially okay i go into dick’s sporting goods this massive dick sporting goods look at some of these photos i took at this dick’s sporting exhibit this place was a ghost town i mean a complete ghost town uh i guess i think i had two

Photos but i guess i only accidentally put in one here but i mean it’s just there was like no one at this store and all these stores are going to have to have to cut hours they’re going to have to cut hours now this next image i’m going to show you is quite interesting because now i’m starting to see this happen and i’m starting to see this happen massively now so

What happened in a store i went into was pretty darn shocking look at this okay so it has been a long time like at least a couple years now since people were starting to discount all their stuff i went into a store that i like to shop at sometimes everything in the store was on sale everything had 25 off 30 off 15 percent off 50 off in the store and it’s funny

Because you know there’s these kind of younger kids like uh next to me that were buying some stuff and the guy at the register was ringing up he’s like oh you just saved you know thirty dollars in this oh you saved a hundred dollars total right and i think honestly that kid would have paid like literally full price like he didn’t even really like cara like it was

A discount but it’s just that’s how desperate these retailers get that they’re like getting pressure from the top like hey we got a discount we got a discount put it 25 off put it 30 percent off put it 40 off and it’s crazy because literally a year ago even six months ago but especially like a year ago two years ago no one was doing sales no one was giving you 25

Off 30 off 50 percent up heck no okay heck no and it’s already starting right because these these retailers are like dude we’re gonna do whatever it takes to try to move some pro is some dang product here okay uh so that that was quite interesting i drove by the planet last night i didn’t grab any photos but i didn’t tell you um the planet was not busy like the

Planet used to be busy it wasn’t even close okay it was it was busy for uh somebody in their space i guess you’d say but the the thing as a planet is in their like own criteria in their own category essentially where they do these crazy volumes and i can tell you they’re not doing nearly the the no it’s not as nearly as busy as it was the previous summer or even

In summer 2020 that’s the craziest part even in summer 2020 i i saw the lines the planet at that time i saw how busy the parking lot was i saw how many uber cars were going in there and taxis and how busy the parking lot was in the summer of 2020 and summer 2021 and i go there now and i’m like nah it’s not happening the way it once was it’s like yo yeah it’s it’s

Busy compared to other guys but it’s not busy compared to itself which is the most important thing uh when you’re competing in a space it’s like looking at an apple store and being like hey there’s um 10 customers in there but it’s like well if there’s usually like 30 customers in there that’s not good and if you compare it to some other uh you know retailer then

Maybe 10 customers is good but for apple that’s not good right and so you know that but the only good news is with the plan of the stock’s been hit like it’s in a recession it’s like a dollar a share now but yeah i was not busy like it once was i can tell you that so then today um i had to drive to henderson get a few things and i was driving back to summerland i

Was like let me just let me just drive down the strip okay so i’m like i’ll spend an extra i got some time to spend here i’ll go you know it’s going to take me 20 30 minutes to get from one end of the strip down to the other end from the south end to the north end where wind’s at and whatnot and so i drive down the strip and it was quite interesting what i saw one

It looks busy because the strip always looks busy i remember the first time i ever came to vegas it was 2009. i wasn’t even 21 years old okay came with my brother and my mom and uh we stayed at the rio i can tell you even in 2009 the strip was it seemed busy to me right because it that’s just like no matter what there’s going to be a lot of people there so it’s

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Always going to seem busy to you but there was something very interesting i’m watching everybody walk down the strip as always is you know one of the biggest tourist places in the world right and uh you know international destination i’m watching everybody walk down the strip hundreds of people thousands of people and what is what i noticed is no one had bags in

Their hands all these you know i’m telling you for the last year or two everybody was on the strip did crazy shopping the louis bags the prada the gucci all these different name brands that are on the strip nah there was no one walking with bags in their hands on the strip and that just shows you that people might still be coming um and paying for base minimums

Like you know to get out of the house or do something like that and you know fly or drive in but they got like no money to actually spend when they’re here maybe like the wealthiest of the wealthiest people do but the fact is like most of the people that come to the strip are not the wealthiest the wealthiest people that’s like maybe the vips that the win and in

The palazzo and the bellagio and maybe cosmo but most people that come to the strip are not that they’re middle class folks right and i’m telling you it’s like these people are lucky to have a water cup in their hands and i’m like what a difference over a year ago or two years ago and um that’s what you have going on right now and i’m just like oh okay uh it got

Scarier because then i was like well then i witnessed a car accident unfortunately and i had to make sure that people were okay and thankfully everybody was okay and that uh whole situation airbags were deployed and everybody was good but that was kind of scary to see uh but from there i drove over to best buy in summerlin and what i saw at the best buy in summerlin

Was shocking and this is the nicest area best buy is in all of las vegas uh you know everybody that shops at this best buy is like pretty much upper middle class or you know even like people with a lot of money and so what i saw at this best buy was to be quite frank shocking going to this best buy this place was a ghost town i mean a complete ghost town i’m like

Are you guys going out of business what’s going on here man this is best buy on a saturday like if there’s one day best buy should be packed it’s a saturday okay and i go into this best buy and i’m like where are the humans there’s like a few workers around uh i can guarantee you best buy has got to be cut in hours left and right the last month or two and they’re

Probably going to cut a lot more and i’m just like where where are the customers where are the customers it was the the bad part was the only customers i saw were in the return line returning stuff i’m like oh boy okay are you guys going to stay in business look at this photo here i mean literally there’s like no humans i’m like what and this is once again this is

The best buy that’s in the nicest area you can possibly imagine and this best buy is like probably i mean i would guess one of the top best buys in the whole area if not the the busiest in terms of you know sales volume and things like that i’m just like where is everybody man like where is everybody and um you know it’s just kind of like starting to see it makes

You think like how bad are other best buys out there i go to the electronics section i want to check up on corsair gaming and it’s very clear best buy is keeping very low inventories very low inventories on all their products and things like that which um kind of makes sense because if you’re not doing big sales numbers what do you want to load up on products okay

If anything you want to run really lean inventory right now and maybe you know buy up a little bit before christmas time something like that but i’m telling you they’re keeping inventories very light and low at least on i mean i i saw it on almost everything but unless at least on a lot of this type of stuff so stock like i own corsair gaming you know the best

Buy is running really lean inventories right now which is not good for corsair short-term numbers however whenever things do pick up whenever that is um obviously you know there’s going to have to be a lot to be filled here nonetheless because best buy is like running like one item two items at a time things like that and uh even running with some outs and things

Like that right now right you know look at look at the outs and outs and out so they’re running inventory is extremely extremely lean right now um uh you know something is still selling good thank goodness is food though the one good thing is you know you can’t eat it you can’t eat a gaming mouse and you can’t eat a louis vuitton bag but you gotta eat food so

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I tell you the one thing that still does move is uh the chef okay the chef and oatley that no matter what those babies will move move move now in all seriousness guys you know here’s the situation i have this up for you for a reason here okay you know these are the newest numbers just came out less than 20 of investors are bullish on the market for the next six

Months and 58 percent are bearish so basically a triple up is bearish than bullish so we’re in this real pickle in the market right now and um you know in the economy it you know i don’t see a good way out of this economy for the next six to six to 12 months if not 6 to 18 months okay the financial markets will start bouncing back way before the economy starts

To bounce back that’s the good news that’s how it always plays out but in terms of the bad economic news i think we’re still we’re still kind of in the first inning of like the bad economic news comes out so this is why i kind of view this and i’ve told everybody like i got it like a six to 18 month and we all have like a six to 18 month window here in front of

Ourselves to add assets as incredibly as possible get your hand on as much money as possible get your incomes up get second jobs third jobs do whatever you got to do in the short term to have max income to invest because i think we got a 6 to 18 month window here where you can add ad the market won’t go up in a straight line i can tell you that when the market

Does start to turn it will be a slow steady rise is what i see playing out here but based upon what i’m seeing in the economy we’ve got a lot of bad economic numbers to hit there’s going to be a lot of hours cut there’s going to be a lot of jobs lost over the next six months in my opinion that that’s all going to come out and hit the news wires so you know we’re

Going to have a bit we’re going to have a bit to to add we’re not going to have forever but we got about like i said i think minimum six months ahead potentially 18 months to add before we start going up again right and then we got to remember always remember here you know once you start that up cycle you got to continue to buy into that essentially and you can’t

Just like stop because it’s like oh dao was at 20 000. now it’s at 22 000 i can’t buy anymore no you gotta you gotta keep buying into that sort of market okay so um yeah man i wish i had better news for you guys in regards to the economy but i tell you it’s not getting pretty and just wait till home construction starts to dry up at the end of this year and in 23. a

Lot of construction jobs are going to be lost a lot of people’s wages in that industry is going to go down massively and uh home builders are going to be on a full-on panic within within honestly like three to six months home builders going to be in panic because all their new orders are not going to come in and um they’re going to be in a situation where they’re

Trying to just fill these last orders here and then they’re looking at backlogs in 23 that are going to be just not there and that’s going to be devastating to these home builders and the construction companies because we have mortgage rates now that are over six percent on a thirty year or probably on their way to seven or eight percent and uh in a much worsening

Economy and consumer confidence at all-time lows literally in history that it does not bode well for the real estate market the construction market which is in my opinion the most important industry in the united states of america by a lot because of how much goes into a home right and um like those new homes just aren’t being built next year and that’s going to

Lead to a lot of problems and then it’s also going to lead to prices declining in the real estate market that’s going to become a whole mess and probably even send consumer confidence to even lower levels which is scary to think because we’re already literally at all-time lows on consumer confidence as it is guys so yeah i’m trying to keep you guys up to date with

What’s going on out there whether it’s good news or bad news i don’t like to share bad news damn it when we got to share bad news and i got to tell you that the economy is not in a good place i got to come out and say it man i gotta i got to tell you what i see i don’t want to sugarcoat it and be like everything’s great nothing to see here guys nah that’s not that’s

Not what i’m seeing man just out there in the real world and it’s important to get out there in the real world you can look at these government numbers they give you and things like that but when you go into a best buy on a saturday and there’s a ghost town you know you got problems okay and it’s gonna get worse before it gets better much love as always i appreciate

You guys joining me don’t forget to subscribe and have a great day

Transcribed from video
Empty Malls, Empty Stores | The Recession is Here | What I Just Witnessed By Financial Education

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