 The economies is in a crazy time right now Unemployment as an all-time low we get in the jobs report coming in tomorrow or today when it's show airs Unemployment is at 3.6% very low a lot of companies you're seeing raise money to like McDonald's is now paying $17 an hour But guess what the United States military? You're not immune to what's going on the world world So right here in this episode you guys and girls consider title How the economy is affecting military recruitment myself 19 years almost 19 and a half years Retiring here from United States military spent a lot of time in military and listed done 19 Well, pretty much 20 years here in the service in the United States Navy So I can speak on this topic very well and before I was in the military I had a job at Domino's Pizza But right here how the economy is one big machine and the military is not immune from it Ladies and gentlemen boys and girls and children all ages You're now tuned into the Prince of Investment coming to you girls guys and girls live all the way for the beautiful city In-state of Denver, Colorado Don't forget to hit that like to strive comment share button and as always I don't have a lot of time and I definitely know you guys and girls don't have a lot of time So we're going to jump straight into it So ladies and gentlemen you guys and girls seen the headlines the military is having a hard time Recruiting why is this the United States Army came out and said that they don't think they're gonna make their 50% of their goal for this year's first recruitment on top of that the military is bleeding out great talent every day Where the people are retiring or separating? Why is this happening? Ladies and gentlemen, what's going on in economy myself? I've been serving in the United States Middle Navy military from every ever since 2003 and in 2003 all the way to now The military is just like the stock market. It has times of expansion. It has peaks Retractions troughs and expansion again those business cycles when the economy has a chance of doing very well Meaning low unemployment high jobs High paying jobs the military always struggles in economical downturns back in 2008 when we had the housing market crash Followed by stock market crash all those things have started to happen. You've seen militaries Enlistment and real recruitment start to peak coming in 2009 2010 the military had to force people out of the military Now today they're doing everything they can to keep people in the military Why is this happening? Ladies and gentlemen doing this episode to show you that the economy is one big machine and as the machine moves It affects everything around us. I read a recently read a book here about a couple weeks or a month ago That was called economics and one lesson I can't remember the author's name, but essentially it was I think it was written probably like in the 40s 1940s or something like that But it was a great book the reason why it was a great book because it showed how one person's misery is another person's Triumphant when one person's trash is another treasure. We hate the rain, but we love the fruit that come from the ground Because of the rain So one thing has to happen to another one thing is moving, you know, how everything moves is one big machine So when you're looking at times of unim high unemployment You're seeing military recruitment numbers go up the military can be picky the military can be choosy, right? But in times of economical up swings like right now you're seeing unemployment is very low Employers are starting to compete That's what McDonald's is paying $18 an hour I remember my first job at Domino's Pizza. It was $5 and 25 cent And I remember when I got there raised to $6 and I got that blue shirt Oh, man, you can tell me a thing, but now look at McDonald's walking in the door $18 an hour So what happened when when unemployment is low employers compete? They have to come in with things like hey, you know, we'll pay for your college. Hey, you can do hybrid work No, you can do remote work. No, we're gonna give you 401ks. No, we're gonna match your 401k Hey, we'll pay for some of your school all these type of incentives when Unemployment is low employers start to compete now what you're seeing the military a lot of sailors marines airmen's Coasties are saying hey, you know what they're being pulled from every day to go off and get another job The military has to find a creative way in a better way of incentivizing standing to the military which they start to do what they start doing enlistment bonuses Reenlistment bonuses all over to a hundred grand just to stay in just to come in sign another contract here comes the bonuses, right? That's one thing they start to do once the economy starts to slow down. They will take away the bonuses But also look at the military base paid Military base pay user moves at one or two percent a year that it goes up the military base pay has to be competitive so one of the things that the military had over a lot of people in a lot of companies is that it had a The benefits, but now you're seeing companies are starting to boast up the competitive labor market They're starting to boast up their benefit packages, but here in One of the things that people have over the military did not don't have over the military But there's one of the main reasons why the military struggle is only 23% of the population Really qualifies to come into the military when I was very young I always thought the same cliche term was hey join join the military or go to jail But I thought that it was you know Right there with each other, but no it's not like that anymore and it hasn't been like that for a while Now you have to have certain health requirements if you had asthma when you was a little kid If you got flat feet that may disqualify if you had asthma that may disqualify you if you was diagnosed with you Know mental illness that may disqualify you if you took an inhaler that may disqualify you right now marijuana is pretty much Legal but not legal at the same time a lot of people indulge in marijuana smoking and things like that that itself Will disqualify you so you're looking at just the health ramifications is one number two obesity There's a lot of people out there who are a little oversized to start joining the military Now once you are in the military you pass through boot camp you're allowed to put on a little weight But not to go crazy But and they in those younger days You've seen a lot of kids coming in you know childhood obesity and kids are not as active as they once were Every generation our grandparents you saw them saying they told our parents they were lazy now our parents were telling us We were lazy now. We're telling our kids. They're lazy. So every generation is becomes it becomes less and less physical So doing push-ups sit-ups running a mile or two miles or three miles That is starting to break down a lot of people people are coming up with shin splittons need problems So people are not in the health condition to even come in Another one is having a clean record, you know having a clean drug record. Have you ever done drugs not doing drugs? Things like that getting a waiver for marijuana now who has a smoke marijuana by this time now in the newer generations So you're looking at only a small percentage of only a quarter a little bit under a quarter of the population Actually qualifies to go to the military or they might even have financial I forgot that's another one a big one Financial some people already have kids Finances may not be in order where they can't join the military. So 75% of the people you see walking around don't qualify to join the military once it's really set down and done Out of the people that are left out of that pool of 23% of population that's left You now have to compete with everybody across the globe. They're like, hey, dude I can smoke a little weed and get a little job over here and I can do XYZ It's a new economy ladies and gentlemen when I was growing up you didn't hear people saying they go They could be an Instagrammer. They want to be a tick tocker. Hey, I'm a youtuber. I'm a podcaster I'm a Uber driver. I'm a door-dash driver all these new economical resources that people can sit back and hey during the day I take a part-time job and I do Uber and I also I'm a tick tocker. Whatever the case may be The whole new economies that were created right up on our nose and right up on our eyes This what makes it very difficult for companies to start to compete the younger generation They're like, hey, I don't want to go off and do 20 years and make a base pay and be a step Doesn't sound like a great deal to me. You have to compete with the new economy. So you can see how the economy You know, some people draw because of the Patriot, you know, patriotism But even though with their patriotism they want to be taken care of because they may come in do four years And they're going how can we retain our best talents when their counterparts are offering to double and quadruple their pay With little to no stress People coming to the military they get these skills and once they get these skills Employees start to reach out to them tap on the shoulder. Hey, you got that nice security clearance You got their nice degree now You got these nice certification and most importantly you have experience. We would love to hire you Oh, what are you making in the military? $80,000? We'll start you off at 110 What is that person going to say? Hey, man, I can get out of here making 110 stay where I want to stay live I want to live have the freedom to do whatever I want to do versus being in the military Picking orders. I didn't say choosing but picking. I was given to you and things like that, right? So now it's a more competitive job market and more competitive economy for the military to Compete with now. This is what's gonna happen. This all to my comrades. I see all the time who is separating from the military They're walking off getting those great Amazon jobs. They're getting a great Microsoft jobs Contracting jobs all type of jobs government jobs starting on companies things like that as we go forward You can see the Federal Reserve look at the unemployment numbers They're expecting unemployment numbers to go up look at today's job report when it comes out What is it going to say they're expecting unemployment to go up and when unemployment starts to go up? Guess what companies start to do they love to do a hiring freeze And what do they do after the hiring freeze if you was the last one in you was the first one out So hey, you went off and you go get that hot new job and everything is going great Economical things start to turn down the company start to tighten up their hiring policies Then here comes the layoffs we're gonna lay off the first person who's just been here for six months, right all year So those are the things you have to be very mindful of when you're looking to lay off You know making economical downturns Then that's the time when the military starts to lick the chops. Oh, wow I remember back in 2010. We had school teachers firefighters people who police officers people who had great professions and Listing the time inside the United States Navy. I thought was crazy But at that time in 2008 you saw unemployment shoot the roof and so many people was rushing in and the military had to push people out When the economy goes down the military takes away those bonuses and elixus chops and say hey, guess what? We'll pay for your school. We'll give you free health care and dinner You don't like the area you're living in we'll get you out of this area Just sign right here on a dotted line Ladies gentlemen the military I've done it for 1920 years and I don't regret anything about it Was there some hard times? Yes. Where's there some easy times? Yes Was the mill did the military catapult me to another level of course So took me out of my small town of Waynesboro, Georgia, which I love, but it taught me a whole new world I learned the world about investing. I learned a word about credit. I learned about insurance I met people all across the world. I got my social degree my bachelor's degree my MBA all type of different licenses They were to travel around the world. It was brought me here to Hawaii and also to Denver, Colorado So it's a great opportunity for a young man That's out there looking for a new way to gain some experience meet some new people and also serve their country Because it does look pretty good on your resume when you serve and you and you know serve your country because there's so many things You learn learn leadership learn how to work as a team You know how to take orders obey orders be on time all those great things, right? But ladies gentlemen this episode today was brought to you I'm telling brought to you like it's by a sponsor something But it was brought to you because of I'm seeing these headlines dominate and I can speak on it But I didn't want to take up too much of your time until the next video podcast cartoon or whatever it's crazy See me do around the globe. My name is Prince Dax. This is the Prince of investing peace be safe. I'm out and thank you Thank you so much for watching think tech Hawaii If you like what we do, please like us and click the subscribe button on YouTube and the follow button on Vimeo You can also follow us on Facebook Instagram Twitter and LinkedIn and donate to us at think tech Hawaii comm Mahalo