 Hey everybody, how you doing? Russell Moore. We're dedicated to financial literacy again Welcome to the channel. Please hit the subscribe button and Also, you want to hit the notify button and continue to Get content in the future and And give me a like if you like the content only if you like it if you don't like it a be real be honest That's how I am. I'm gonna keep it real with you I'm gonna talk about inflation again That seems to be the big topic. I want to remind everybody on the 16th of this month the March Jerome Powell of Federal Reserve chief We'll be discussing. I think they've already talked about Where they're gonna take the rates, but our rates the interest rate is going up the federal interest rate They're thinking at now right now. We're built, you know, we're zero zero zero zero and Most people think we're gonna go up 25 basis points a quarter. I was thinking maybe more like 50, but They probably want to start off slow And so I'm gonna retract that from my last video where I said 50 it it's a good chance that it'll be 25 And I think they've even came out and said such but But anyway the rates the interest rate is going up, okay and Now we got interest At higher levels as far as the housing market So that means yeah Yeah, so if you're looking at buying a home right now Like I'll give you an example. I bought my home in November of 2021 just last year. So I've been in our new home for about What three four months And In the house for about four months now Our interest rate for this home was 2.7 2.8 the most right and Right now they're at 4% 3.9 4% and they're gonna climb The bad thing about it is prices hasn't gone down much Very little. There might be a few price cuts here where you know Uh, the seller is just trying to get rid of the house. It'll drop it 10 or 15 thousand, which is great But nothing significant you know You know, so are we headed for a housing bubble crash What goes up must come down So it's not a prediction Eventually the house we can't keep having these kinds of prices The price increases that we've had with the homes in the last year year and a half 18 months so So my encouragement and I'm going to do a video on this as far as Should I buy a house or not for those that are out there looking right now? um, you may have missed The the low rate season uh But here's the thing even if you got it at 3% that's still that's still pretty good 3.9 4% That's it's not as good as it was a year ago. Okay, I get that but When you look historically at housing interest rates 3.5 3.7 is kind of like the average about 4% You know, so there was a time when my dad bought his house The late 70s early 80s And we were looking at 10 12 interest rates So It can't complain so um, but this is not about the housing what I want to talk about is this question that's been asked Because everybody's talking about gas inflation. Okay meat is up Fruit is up vegetables are up um Consumer products are up Used cars are up Everything is up Okay Ground beef. I'll give you an example ground beef, right? 13% year to date meaning You're paying 13% more this year than you did last year at the same time So in march of 20 of 2021 You were paying 13% less than you are today eggs 13 15% fruit oranges apples pears all of that up 10% Used cars up 30% 32% year to date Yeah Bacon, oh, let me give you get bacon 18%. I think I said it in my last video 18% Yeah, things are up you guys tissue toilet paper women's products 20 15 to 20% general mills just announced They're going up 30 30 to 13 13 to 50% on all their product all of them for you cheerio lovers We know that p&g went up 15 to 15% And they're all blaming it on inflation They're using inflation As an excuse to raise prices. We have the right to raise prices because of inflation Bottle neck give me a break Come on you guys You know, you're using it all you companies out there You're still the earnings if you look at earnings reports that come out quarterly These companies are still making money. They're still making profits All right, so anyway But what I want to talk about now is We're talking about gasoline Right now I'm in southern california paying seven dollars always seven dollars for gas I'm going to say that again seven dollars and climbing everybody wants to blame it on the russian ukraine War well, the prices were up high before the war before they invaded So let's just kick that lie out right now All right, and then they want to say it's because of the oil industry and they don't want to drill Go back and listen to what our president said before he was elected. He was coming after fossil fuels We're going to reduce and get rid of no, here's what he said. We're going to get rid of fossil fuels So the day after his inauguration he put in regulations Totally went against what president trump did Who was pro Remember we were energy independent We're no longer energy independent Do you know that if he wouldn't have stopped The pipeline keystone pipeline, do you know it would be completed by now? We would be we would have access to to to uh, actually producing 900,000 barrels more per day of oil Which is about the equivalent to what we're getting from russia right now Okay, all right I'm not trying to make this into a political issue. I'm just saying Let's just be honest out there The administration be honest And so it was time to just admit it's your wrong. Let's start drilling Given some concessions talk to the now. I will say this the oil industry They're loving this gas prices this high up They're not any they're not going to be in any Hurry to drill And produce more oil and get more barrels so that the price can go down Do you really think they want the price to be reduced? They have the administration to blame right now So they don't look like the bad guys and girls So but the question was in response to the high gas prices. I think it was jinn sake even our president said this You need to buy EVs. You need to buy electrical vehicles By cars with zero emissions and I get it. I I get it, you know, we're looking out for the environment I get that okay. I'm not against that But I want you to see how unrealistic that is What I've done I've compiled a list I've kind of compiled a list of the current EVs that are being sold in america now This is this list is not exhaustive Meaning that it's every every every single car, but it's most of them They may have missed a few. Okay, but I've got a list of about 25 vehicles That are like the most desirable In the industry in the eb industry Okay Now here's the question I want to pose to you out there Say you would like in my situation we have a tolyota hybrid that we bought last year because I knew this day was coming It's so uh me and my wife. I said hey, let's get in. Let's get a hybrid save on gas But we have an older car 2009 rogue Nissan rogue It's running beautifully. It's great, but gas Ice okay internal combustion engine It's a gas car and it's it doesn't get the gas mileage that our tolyota gets I had to fill it up yesterday right seven dollars a gallon so Just last week It was about 50 50 something 50 dollars to fill it up 50 but 55 60 maybe Almost 90 dollars yesterday From 50 to 90 dollars in less than a week I drive the la I live Hour and an hour and 15 minutes away from Los Angeles. I drive the la three times a week And when I get there I do I drive my job includes some driving All right There's a good chance. I'll be I'll be putting a hundred dollars a week in my vehicle That that one vehicle my hybrid still takes gas. Okay, it's just get better gas mileage The mpg the gas mileage Is about 55 miles per gallon I get foot by my hybrid. So that's great, but I still got to put gas in it Not as often So what I'm gonna do is I'm gonna switch my wife is gonna drive the rogue. I'll take I'll take the hybrid The three times see it was working because I was only going three times a week But now that the gas is so high I'm we're gonna switch I'm taking the Toyota She'll take the rogue her job is closer and that's the reason our job is closer Okay, does that make sense there? So we got people making all these kinds of decisions because the gas mileage is up and then we have our administration who are insensitive They are very insensitive to the consumer right now for you to say And I'm gonna show you why this does not make sense For you to say go out and buy an electric vehicle. That's the answer to gas high prices The gas price is being so high That's the answer you want to give to us That's the solution to this problem When we're looking at probably by the end of the year if things don't get better We're looking at and especially because of the sanctions now that they've sanctioned russia on this oil Oh, man We could be hitting nine ten dollars a gallon at one point gang Thank you administration Thank you For digging deeper into our pockets Man this is crazy. So anyway Let's go over this now. I may not do the whole list on this video I may do a part two of this. We'll see how it goes I'm trying to keep this video around 15 minutes and right now we're already at 12 heading towards 13 So I'm trying to hit it around 15 16 minutes Okay All right Now what I'm going to do. This is not a review of the vehicle. You got to go and do your own research Okay, all I'm going to do is give the range because this is what people really look at How far what's the range in meaning electrical range when I plug that vehicle up that EV up And I fill it up and it's fully charged. How far will it get me from point a to point b and how long will that charge hold? Okay, that's the range and then I'm going to give you the price And I want to show you just how impractical it is to make a suggestion to a 22 year old who just got out of college has this huge Huge Loan that they have to pay back And you're telling them go ahead and buy an EV. All right. Here's the first EV GMC Hummer. It's the GMC Hummer EV It has a range of 329 miles. It's pretty good You know what the price is 112,595 dollars. Now some of you I know what you're thinking. I know what you're thinking. Yeah But there's a government incentive. Well, first of all Many of these vehicles have already exceeded 200,000 once you've sold 200,000 units You can no longer your vehicle can no longer participate in that incentive and I believe it's what 7500 Okay, so that's a good amount 7500 it gets you get that money back after you buy your EV But what people don't tell you is that there's several of these vehicles The good ones the nice ones that you that are really popular that have already exceeded 200,000 units So they no longer have it like tesla They exceeded it long ago Now I may do a video on which ones have exceeded 200,000. I think that would be a good video. Don't you think? All right I'm letting you know how much you're going to pay for this EV and how impractical it is for the administration to ask us to do this Okay, number two the rivion r i R1s. I'm sorry the r1s And that's their suv version It's the range is 316 miles Anything in the 300s. I have to say it's pretty good But let's look at the price 76,575 Okay, let's take this 7500. Let's take this 7500. You're looking at about 68,000 dollars Who's good? Who's got that kind of money? All right The rivion R1t that's to pick up It has 314 miles range And it's going for 74,075 So you're looking at about 66 67,000 After After the incentive Next is the Porsche And it's spelled t a y c a n But it's not taekon. It's taekon Porsche taekon cross Turismo It has a range of 215 miles Just 215 miles. This is Porsche It's going for 95 thousand dollars Do you hear that administration? All right next Let me speed up I got one more minute and then we'll do another video Jaguar ipace 234 miles Jaguar ipace pace 234 miles 71,000 dollars The Audi e-tron sport back It has a range of 218 miles 70,000 dollars The Audi e-tron suv It has a range of 222 222 miles The range and it's 66,000 dollars The Porsche taekon. This is just a regular Porsche electrical taekon It has a range of 200 miles Okay, 200 miles. That's less than the other one It's it's counterpart Porsche taekon and it's going for 84,000. So one of them is 95. That's a higher end And then this one is going for 84,000 Audi e-tron the gt. This is the upper version the premium version. It's 238 mile range It says a 238 mile range I have a problem with any vehicle electric vehicle that's under that's under 300 miles Especially living in california Where everything is so far apart And traffic traffic traffic because that does affect your power The weight of your vehicle what you have in your vehicle How fast you drive how heavy your foot is on the pedal that really if that affects your charge Okay The Audi e-tron gt Okay, 238 mile range a hundred and $3,000 I'm going to do two more and then I'll go to the next then you can you can check it out on the other the next video I'll complete the list on the next video Volvo 223 miles range It's going for uh It's called a recharge vovo xc 40 recharge and it's going for 56,000 Vovo c 40 There's the xc 40 and then there's the c 40 recharge It's got a range of 226 miles And it's going for 59,845 dollars. I want you to notice There's not a vehicle other than these the vovos That are under 50,000 that I've just listed None of them Are under 50,000. Do you know that's a down payment? On a whole The gmc hummer 112,000 dollars You can go to south carolina by a condo catch with that money. Come on Go buy an eevee. All right. I was this is it for this video I've been 20 minutes. I'm too good. It's too long So I'm going to give you part two Stay tuned for part two and we'll continue this list So that you can see how impractical it is for our administration to tell people to run out unless you're rich But i'm talking about the middle class pofo lower class middle class If you're rich, this doesn't bother you But the everyday american The prices have to come down they're going to have to come down We'll talk about that as well. Anyway, stay tuned Keep checking it off. You got to hear this list because you may be thinking about electric vehicle. I want you to hear the prices It's astounding Have a great day