Hip-Hoponomics w/ Ash Cash Episode 003: From Market Volatility to Crypto Politics

Welcome to 1212. So welcome to Hip Hoponomics Wednesday, right? This is, uh, Wealth Wisdom Wednesday. It is your boy Ash Cash. I love Wealth Wisdom Wednesday on Hip Hoponomics. Um, today we're gonna— we're diving deep. We got, we got a lot of news to update you on, uh, but we're diving deep into some major financial moves, uh, from market rebounds to, uh, crypto campaigns. Uh, we, we've got, uh, definitely a special focus on, uh, co-parenting and, and, and, and finance and divorce. Uh, we'll talk about that, but we, you know, we're gonna break it down. Um, and see what we can learn. So first, let's kick off things with the market moves. So after Monday's big sell-off, stocks rebounded on Tuesday. The NASDAQ was up 1.03%, the S&P 500 rose 1.04%, and the Dow gained, uh, 0.76%. Bitcoin also bounced back. Uh, up, uh, 4.5%, um, you know, what, or 4.56%. And then one of the biggest winners was Uber, who revved up 10.93% after smashing Q2 revenue expectations thanks to unexpectedly strong consumer demand. And so what is the lesson that we learned here today is that markets go up and down. Don't panic when there's a bad day, and don't get overly excited when there's a good one. Stay focused on your long-term strategy. You know, as one Bank of America analyst told, uh, Bloomberg, get used to volatility. Remember, despite this week's turbulence, the S&P 500 is still up over 10% this year. So regardless of how things look, if you look at the long term, this year it's up 10%. So now let's talk about, uh, 21 Savage. Uh, this man is out here teaching financial literacy to the youth. 21, 21, 21. And I'm all for this. Uh, at his 8th annual, uh, it's a back-to-school drive. He partnered with, uh, Wealthy Habits To introduce a digital financial literacy workbook, uh, called Master Your Money Financial Success One-on-One Guide with 21 Savage. I got 1, 2, 3, 4, 5, 6, 7, 8, 9 M's in my bank account. Um, here's why, uh, this is major, uh, because number one, it's about starting early. Right? Teaching kids about money management from a young age can really set them up for financial success in the future. And y'all know, you know, if you know my history, you know that's what I'm all about. Um, number 2, it teaches practical skills. Uh, the workbook covers everything from, um, saving for emergencies to, uh, understanding credit And these are really the skills many adults still struggle with, like right now as we speak. Um, number 3, it's all about giving back, right? It's all about giving back. 21 Savage, uh, is using his platform to uplift his community. Um, that's wealth building on a whole nother level. Um, number 4, it's about long-term thinking. Uh, the workbook encourages setting both short-term and long-term financial goals, um, and that's a mindset we all need to adopt. You know, number 5, it's all about building generational wealth. Like, that's— I, I don't know what other way, all the reasons you want to do it. You want to build generational wealth by educating young people about finance Uh, 21 Savage is helping to break the cycle of poverty and build generational wealth in his community. Um, and you also know, you know, we have a similar, uh, you know, curriculum called Hip-Hoponomics that goes, you know, Hip-Hoponomics. So make sure you check it out, hiphoponomics101.com. Um, and now moving on to politics, right? Uh, some interesting developments in the presidential race. Kamala Harris has picked, uh, Minnesota Governor Tim Walz as her running mate. Uh, Walz has a track record of progressive economic policies in Minnesota, uh, pushing for things like, uh, universal free school meals, um, affordable housing construction, and banning non-compete clauses. I would love to get your thoughts on that too. Put your thoughts in the comment. But banning non-complete clauses. Uh, these kind of policies can have an impact on people's wallet. Uh, but here's where it really gets interesting. Uh, Democrats have launched a Crypto for Harris campaign, right? And so we saw that, uh, you know, they wanted to do, you know, rival to Trump's appeal, uh, in the crypto world. Uh, they're hosting a virtual town hall Uh, with big names like Mark Cuban, um, and Anthony, uh, Scaramucci, uh, to discuss support strategies and fundraising. Uh, this move comes after Trump headlined the Bitcoin 2024 conference in Nashville, uh, raising tens of millions of dollars, uh, and also promising the creation of a strategic Bitcoin reserve if elected president in November. Um, you know, so, so what, what can we learn, um, from this? Um, crypto is mainstream. So I want you to make no denial— deniability about that. It's mainstream, especially when you see presidential campaigns are fighting over crypto voters. Um, you know, it's become a major financial and political force, uh, whether you're into cryptocurrency or not. Um, it's important to understand, uh, different financial systems and technologies because they could literally— I mean, not even they could, they are going to shape the future of money. Bitcoin, um, even, you know, blockchain, all that stuff. So you got to be, got to, got to be in the know. Um, now let's talk about some creative business moves. Uh, I like this. Pitbull, um, you know, just scored a $6 million deal with Florida, uh, Florida International University for naming rights for their stadium, and it's gonna be called Pitbull Stadium. Uh, and this is a, a perfect example of leveraging your brand for long-term income. Uh, Pitbull's not only relying on his music sales, but he's diversifying his income streams and, uh, building his brand in a super, uh, creative way. Um, he's also going to be, you know, doing concerts there as well. Um, and so that's, that's a big, big move. Um, speaking of big money moves, uh, let's, let's give a big shout out to, uh, Michael Bloomberg, uh, the ex-New York City mayor. Uh, the billionaire donated $600 million to 4 historically Black medical schools Um, and this is on top of the $100 million he gave in 2020. Um, it's a powerful reminder that true wealth isn't just about how, uh, much money you have, but how are you using this money, uh, to make a positive impact. Now, uh, it's time to, uh, dive deep into our, uh, featured story of the day. Uh, we got Cardi B and Offset's divorce. Um, you know, Cardi B, you know, filed for divorce. Um, and I want to talk about that and, you know, what could it teach us about finances, um, and co-parenting, because they do have, uh, 2 children together, uh, soon to be 3. Um, and so, you know, there was a photo that Offset, uh, posted of his son Wave, um, holding, uh, stacks of cash. And, you know, while it might look cool, you know, for the gram to have, you know, your kid with money and all that stuff, Um, it's a reminder that when it comes to, uh, divorce, uh, and even co-parenting, financial decisions can get complicated really, really, uh, quickly. Um, and so Cardi B, uh, filed for divorce, uh, from Offset on, uh, January 31st after 6 years of marriage. Um, this isn't the first time they've, they've split up though, right? Uh, but this time it, it seems different. Um, Cardi is seeking, uh, primary custody of their 2 children, uh, so Kulture, uh, Kiari, uh, which is— who, who's 6 years old, and Wave Sett, who's 2 and a half. Uh, she's, she's also pregnant with their 3rd child, uh, which adds another layer of, uh, complexity to the situation. Um, but I wanna, I wanna be able, you know, let's, let's break down, uh, what we can learn from the situation because I don't just report this news for gossip. You know, there's always a learning lesson. Um, and so number one is protect your assets, right? Uh, if, if you're considering divorce, uh, start planning early, right? Document your finances, uh, gather important paperwork, and consider opening individual bank accounts, right? And so, you know, we don't know the details of, uh, Cardi B and, uh, Offset's financial arrangement, But when you're talking about, you know, high net worth individuals or even high net worth divorces, um, asset division can definitely get messy. Number 2, um, you should be thinking about kids, right? And so Cardi B seeking primary custody isn't just, um, an emotional decision, it has a major financial implication. Right, so you got to think about, uh, child support, um, education costs, healthcare. All of these need to be considered, um, you know, especially for, for non-celebrities, uh, these costs can be even more impactful on day-to-day finances. Um, number 3, co-parenting is key, right? Despite the split, sources say That Offset and Cardi B seem committed to co-parenting, um, and this is crucial not just for the kids' emotional well-being but also for financial stability. Working together can help avoid costly, uh, legal battles down the line, and it's also, you know, a lesson for all parents going through You know, a separation. Um, number 4, uh, you need to, you need to understand that prenups matter, right? We, we don't know if, you know, Cardi and Offset had a prenup, but for high net worth individuals, um, it's something to consider. Uh, it can protect both parties and make the divorce process smoother. Um, even if you're not A millionaire rapper, uh, you know, having clear financial agreements before marriage can save a lot of headache later. Number 5, um, you know, you got, you gotta, you gotta make sure you keep building, right? Divorce doesn't mean your financial journey stops. Both Cardi and Offset are continuing to work and, uh, build their empires. Uh, that's a lesson for all of us, uh, that we got to keep pushing, uh, we have to keep growing, uh, no matter what life throws at us. Um, you know, Cardi even announced her pregnancy at the same time, at the same damn time, right? She obviously announced at the same time, um, in the same day as the divorce news broke, um, showing she's focused on, um, her, her future. Um, number 6, uh, you should be mindful of your public image. Um, and so posting pictures of kids with stacks of cash might not be the, the best move, uh, during a divorce. Uh, it could potentially be used, uh, in custody battles or, um, affect public, uh, opinion. Um, for non-celebrities, be careful about, uh, what you post, um, on social media during a divorce. Um, it could, you know, definitely, you know, come back, come back to haunt you. Uh, number 7, separate business from personal. You know, uh, Cardi and Offset, uh, have collaborated on, on music, uh, they've collaborated on business ventures, uh, and separating these in a divorce can be complicated, right? So it's a reminder to always have Clear agreements in place, right? When— especially when you're mixing business with personal relationships. Number 8, emotional and financial health are connected, right? Going through a divorce is emotionally taxing, which can affect your decision making process when it comes to finances, right? So, it's important, uh, to seek support emotionally and financially. So, not just about the money, not just about the emotion, but both emotionally and financially, uh, during this time. And so, remember, family, you know, even if you are not a celebrity, these lessons apply to you in your life. Uh, whether you're going through, um, a divorce, um, thinking about marriage, or, uh, just want to be prepared, uh, you know, you know, understanding the financial implications of major life events is super duper duper crucial. Um, so what are the key takeaways from today's Wealth Wisdom Wednesday. I'm gonna break it down. Number 1, stay calm in market volatility and focus on long-term strategies. Number 2, educate yourself and others about finance, uh, like 21 Savage is doing. Uh, number 3, stay informed about how politics can affect your money Including emerging areas like, uh, blockchain and cryptocurrency. Uh, number 4, diversify your income streams and build your personal brand, taking a page from Pitbull's playbook. Number 5, use your wealth to make a positive impact, as Michael Bloomberg is doing. Uh, number 6, In relationships, always be prepared financially, right? Communicate openly about money and always, always, always think long term. All right, y'all, that is all I got for you today for Wealth Wednesday— Wealth Wisdom Wednesday, uh, on Hip Hoppernomics. Remember, uh, building wealth is a journey. Uh, not just a destination. So make sure you keep learning, make sure you keep growing, and make sure you keep stacking that paper. This is Ash Cash signing off. Until next time, stay wise, uh, stay wealthy. Make sure you like, subscribe, share this with a friend, um, and make sure you visit, right, hiphoponomics101.com. Uh, follow me on all social media platforms. Uh, you know, go to my website first, uh, iamashcash.com. And follow me on all social media platforms, uh, @iamashcash. Hip Hoponomics, appreciate y'all. See y'all next time. Peace.