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as promised in the last video about the hollow economy i want to tell you some of the tactics you can take or the actual actions you can take to better yourself protect yourself so you can help yourself and your loved ones i also realized that i never explained what i meant by hollow economy so i'm going to give you a few points about that in this video as well there's some massive points of uncertainty that we're watching very closely in the near-term event horizon and we'll get into that in this video as well nothing we say here should be considered trading advice of any kind it's opinion only and i'm wrong 100 of the time here's a great comment we got from ruth and ruth says a lot of things here i want to call out she says i must read your penny stock book correct ruth good thinking do it but the reason i'm calling out ruth's comment is because she mentions thanks to your staff for supporting you so well and thank you ruth i really appreciate when i get a comment like that because there's a whole team here behind the scenes about 95 percent of everything we do is behind the scenes every time you read one minute of an article or when you see one minute of a video there's multiples and multiples more of time going into that to make that one minute and i will of course say that it sounds like a cliche but i need everybody on my team without them i'm in a lot of trouble so you should always give them the appreciation before you start thinking about giving me a compliment or a comment into that and i'll show you just really quickly along the bottom of the screen so it doesn't interrupt what we're talking about i just keep on flying along here the post-production of the last video the hollow economy that's what it looks like across the bottom you can see right now on your screen that's what goes into taking the rough cut and making it something that is presentable or publishable as a video there's a lot going on here even with the new book you see the cover oh great picture whatever we had the photographer take the picture back photoshop it up and then we have the designer gives us a whole bunch of iterations there's a lot going on behind the scenes here especially with the analysis of research for the sub five dollar penny stock picks that we make and while we're on the topic of appreciation i also want to give you guys a little bit of a sneak peek into my new book up thinking which will be available within about a week or so and answer your question the only place you can buy it is through us on peterleeds.com that's it we're not putting it on the bookstore it's not like my other books okay it is just available through us and we do that on purpose just like the peter leeds app that's not available in the app store we do it we take care of it all we're control freaks so what do i mean by hollow economy it has to do with the mix of jobs how many people are bartenders or serving staff compared to who is a mechanical engineer the higher paying jobs there's a different mix to that there's more availability of lower paying jobs easier jobs to get for most people and those jobs are where you see a lot of the vulnerability when the unemployment rate suddenly spikes up that's who takes the first hit and they change the way they calculate things unemployment poverty inflation even the stock market indexes they keep adjusting that so they'll take a stock out of the index and put a different one in and then say look the index just keeps on going up there's all sorts of things just like this going on right now that is adjusting the way that most people see the actual economy so that they don't see the real economy and you know i always talk about the connection between the economy and stocks that's another way that the economy is hollow that it used to be somewhat similar between stocks and the economy and they became two totally different things and that's another example of how this economy is hollowed out the stock market's not even related to the economy underneath the stock market in a hollow economy you're also going to have a lot less prospects for employment if you are looking for a job there's one thing being unemployed but also what about getting a job that will be good for you one that you really want one that's going to renumerate you fairly that's a whole different thing and there's not a lot of good prospects in this economy while it's so hollow even in terms of executives and ceos and business owners there's a lot of uncertainty so there's a lot of delays and decisions they're not necessarily investing as much as they would into things like research and development or hiring new people right now while the economy's hollow they're not even going to be launching a lot of the ideas they have for some big marketing plans because people are waiting right now they're waiting to see where all this is leading towards meanwhile most companies have a certain footprint generate more earnings and therefore push the stock price higher fairly it'd be valued at more because it's worth more that's the idea but right now in a hollow economy fewer businesses are looking to expand their market share or increase their footprint and there's two problems with the job front and this is the main thing that's really making the economy hollow that there's no manufacturing in america and jobs are being lost to cheaper labor places like mexico and china and malaysia but a lot of the jobs are being lost to automation we're more efficient now we have machines that work all night and they don't ask for a raise that's where most of the jobs went and the last thing i want to say with the hollow economy a hollow economy is when stocks are increasing their earnings by buying back their shares the company's not getting better it's just that there's fewer shares out and that's what's making most stocks look like they're increasing price or causing them to increase in price because of buybacks which are only possible because of the low interest rates so what can you do about all this hollow economy great to notice that it's happening but what do you do about it how do you protect yourself and the people that you care about how do you land on your feet preparing for the situation you're in right now with this hollow economy is very similar to preparing for a recession so i'm going to put a link to my previous video where i told you tactics about what to do what to avoid what to buy i talk about it all the time avoiding certain types of stocks looking into other types of stocks so if you want a little bit of bonus homework then watch that other video tell you exactly this is an old video but it still stands true to this day it tells you what to do about the recession is the same as what to do about this hollow economy the whole thing is one thing the economy is not going to be a wind at your back so how are you going to use this current situation to get ahead further in life rather than just struggling through all this chaos that everybody is involved with right now i also would suggest that you make a point of sitting down and really developing a plan what are you doing what are you going for are you just trying to make 10 on your 500 or are you trying to turn it into 6 000 really think about what are you trying to do here what would make a difference in your life if you make so much money how hard would that be and if you're able to do that what would be the next steps and as always make sure right now more than ever this is more important than ever in your life to increase your financial understanding and a big part of that is listening to the right people so the fact that you're watching this video you're already on the right track but you want to learn as much as you possibly can and you don't take all the information from one person and if you watch somebody follow somebody and you agree with 90 what they say then pay more attention to them but if you only agree with 50 look for somebody else there's better people out there so besides learning it done what you're doing by watching this video right now you should also spread the word think about people that are under your umbrella people you're responsible for you want to help them out as much as you can either you help them without their involvement or you teach them to learn about this so they can help themselves and you won't have to have that responsibility and the number one thing for sure and this is what nobody seems to be doing yet is to take it seriously this is getting really bad right now the situation we're dealing with it's getting off the rails fast and i really want you guys to take it seriously because then you'll make the steps or take the actions that you need to take to land on your feet and help the people that you care about the actual social fabric of society is fraying at the edges there's more and stronger tribalism in terms of politics in terms of the virus everything than there ever has been and this may be the most chaotic time in the lives of a lot of us i want to talk a little bit about the militias and black lives matter but that's a little bit later just ahead here it relates to what i want to talk about now is the near term event horizon there's a couple of big events right now that are going to happen soon or we're going through right now you know i always tell you guys that uncertainty is the worst thing for the stock market in terms of the near-term event horizon there's a couple big factors we're watching right now that are going to be making a lot of difference in a lot of ways possibly there's the election and there's the virus both of these right now are coming together at a peak at the same moment and to that end i'll show you a sneak peek to show you guys appreciation as a youtube subscriber i owe you guys i'm showing you a sneak peek of my new book that i wrote for you up thinking and this is the part about uncertainty and if you think back a couple of videos my concern i was trying to explain to you but i don't think i did a good job of it i was trying to say that the virus would get worse and it's a slippery weird slope it's kind of cringey it's gross where what if i say yeah the virus will get worse and it gets worse more people die it's like yay way ago you figured it out i'm not i believe in karma i can't do that it's gross it's cringy i was trying to say that the virus would get worse i don't mean in terms of the reality of it the stuff that matters not the deaths all that stuff i was saying it was going to get worse in terms of how it's going to punch the economy right in the face it would get worse for airlines cruise ships restaurants and we started coming out of the second wave a little bit and then people thought okay we'll go back to normal now that was a point where saying no we're just getting started these negative effects on the economy because of the virus are only going to get more extreme not less extreme the us gdp booms at 33.1 percent rate in quarter three better than expected do you remember i was telling you guys that this is going to be a massive increase in economic activity that's not an increase in economic activity better than expected it's not an increase at all it's a recovery from what was a complete collapse if you own a stock that you bought for a hundred dollars is trading at one cent you lost a lot of money if it goes to two cents you just made a hundred percent on your money that's not a good thing it's still a losing situation this was from yesterday doubt drops more than 600 points on fears of rising coronavirus cases and you're seeing a lot of people who i told you months ago about be careful with buying the dip anybody buying the dip you're on the wrong side of that trade that's for sure pulling to cut thousands more jobs as the pandemic hits aircraft demand the negative effects from the virus are not yet even fully played out just wait things will get even worse for the industries which are getting killed by this coronavirus once you understand uncertainty and the way it affects the minds of others you can use it to your advantage in a very significant way whether you're negotiating at a yard sale or arguing with your boss or explaining to your business partner why their cut is appropriate uncertainty is all around you it is their enemy it is your friend der kong says printing to infinity is defaulting absolutely correct this is one of the things where i said that there'd be a ton of defaults one way they're going to do that is just by creating more and more money looking forward to your new book talking about up thinking i hope that the next video i put out after this one will be actually an announcement that the book is now live and available for sale i would never have a bush interfere with that million dollar view absolutely right i'm going to get rid of it the only mistake you've made is bitcoin i think it's going to do exactly what i told you is going to do but i don't talk about bitcoin anymore hello from germany can't find the book on amazon or ebay the only place you can get the book is through us at peterleeds.com you know you can get my penny stocks for dummies book actually translated into german on the shelves in germany and didn't even tell me they were doing that before they actually translated it that's a whole different story but if you give us one more week you'll have the entire content right in front of your eyes and now we've got black lives matters groups and militia groups all of whom are very polarized very adamant and willing to fight for what they believe in and now we've got an election which was claimed that it would be contentious months and months and months ago before anyone could possibly know that so the assumption is that yeah will be contentious well we're all going to find out together next few days it's a really really significant important time this moment is a tipping point in your life the federal reserve is destroying this economy it's just a matter of time in my opinion until you realize wait a minute maybe i did know what i was talking about the whole time this is from sybil and donald they say they followed my guidance since november 2012 and they owe about 1.4 million dollars of their 2 million 401k they say to your guidance