5000 Banks Gone

So let’s go Watching them lose last place, it’s been amazing. Anyways, where you got to be guys? D-Rite. You guys just missed a home run by the White Sox. First things first guys, your bank is becoming extinct and what’s happening is that there are bank closures like you’ve never seen before at a complete record pace. So one thing that’s interesting about this is that between 2017 and 2021 the majority of the banks that were closed were in predominantly low-income areas. We saw this all over and it didn’t make a bit of difference but they created what they called banking deserts and this was a problem because these people were predominantly low-income older people.

It’s funny I had to call the power company and the woman said you know whenever I deal with a senior I have to explain things over and over again and I thought about you’re talking to me you know so it’s kind of funny but one thing that’s happening is that since 2021 there has been over 5,000 bank branches closed okay with that they’re not necessarily in the low-income areas they’re all over the place and the thing that you have to look forward to is that you’re not going to see branches open like they were before.

Think about this stat because this is pretty wild when you think about this and that is when you think about banks that will be non-existent. In the state of Vermont 2031 there will be no bank branches to go to in Vermont. Oregon foul ball. Oregon same thing. Maine 2031. Connecticut 2031. New York 2035. California 2037. So with that you’re not going to have bank branches at all in just over 10 years here in California. Again there is no one here at this stadium today guys. So have multiple sources. Talk to your credit union.

See if somebody’s sitting in my seats which they’re not right now but I’ve seats right above the dugout guys. It’s nice. So let’s go get a burrito and there’s a lot more to cover today. One thing that’s pretty interesting are certain statistics that you can’t ignore. One area of Texas, Dallas Fort Worth. Think about this. They issued almost 10,000 building permits in one month earlier this year and that was more than the entire state of California. So you’ve got areas that you have hot building but who is moving into these places? Who is doing this right now? Are these builders just building to get to complete the financing or are there actual buyers for these locations? Who knows? The other thing that’s wild is Dr.

Marvin sent me a really wild story out of Newsweek and that is the fact that so many people in Florida are quitting their jobs. In the month of August you had 200, excuse me, July you had 205,000 people quit their jobs. In August you had 268,000 people quit their jobs. This is kind of like a COVID walkout where you had people they’re like I don’t want to work for these people anymore. Is that what we’re seeing again? Are people fed up with this? Now the interest rate cut people are going to sit there and go oh my gosh it’s going to be the greatest thing ever.

You’re going to see you know real estate prices on the rise. No, the last time this happened we haven’t had an interest rate cut in four years. The last time that they cut interest rates like this you had the price of houses drop. Remember 2008, 2009 as interest rates fell so did the price of houses and you’re going to see them drop again guys. You’re just, you are. You’re going to see people that haven’t been able to sell sell. So I’m also going to do a real estate expose later on the week something that people are just furious about.

So with that being said you know there’s a lot more to cover but what do you think about this dead state guy? Look at this. It’s a baseball game going on right now. There’s a guy walking around with a camera. There is nobody here today. Understand that? Nobody. So you know when you buy a ticket they’re over a hundred bucks right now. Now here’s the thing. If you want to buy a ticket to a sporting event or a concert or anything like that there is such competition right now to get online tickets that you should go and research it.

Like there’s a local ticket agency I like here that doesn’t charge a premium or any commissions on anything but man-on-man they will drop the price to the floor right now to be competitive with everything else. That’s what we’re seeing more and more of right now. If you want to go see a concert or you want to go see a sporting event or wrestling or anything like that football I’m telling you guys you can sit there and you can you know drink the Kool-Aid and act like everything is super high priced.

There are deals out there because stadiums and even in the NFL they’re not selling out like they used to. So let me know what you think guys. Now the other thing that we’ve talked about a lot is you’re going to see businesses merge. Bank mergers are going to have a much more difficult time. The FDIC and the Department of Justice just announced that they’re going to make it more and more difficult for these banks just to merge together and they’re going to have to stand on their own they’re going to have to be more competitive to show us that they’re going to be giving us better service.

Who believes this? I don’t believe this to save my life. The last thing a bank wants to do is help us. So during this time you’re going to see it more difficult for us when it comes to less branches out there and they want us to go to everything mobile. Now speaking of that, think about this one. In the Phoenix area there is a bank that has mobile banking and not literally mobile banking but today we’re going to drive the U-Haul truck semi motor home with an ATM to this location and you can meet us in this parking lot.

How crazy is that? How nuts is that? Okay if you had the biggest motor home on the planet how big would that be? How many people can walk inside that thing? Well no you’re not going to walk inside. We’re going to have an awning out front and you’re going to be able to sit there and use the ATM and talk to a banking professional. You see how ridiculous it’s getting? It’s they don’t want you to go anywhere but you can have online banking that will be done in such a way that they’re going to drive to you out in the blazing hot desert.

Right now you know when it’s over a hundred degrees who goes out? Seriously who does that? So the Fed just cut interest rates half a point because the economy is doing good and we’re getting a hold of inflation. You’re kidding yourself. Now here is the thing driving here to the stadium today I spoke to a banker today who said Dan come on it’s going to be more difficult to get a mortgage than ever. We’re going to step up the game as far as your ability to pay us back and what it’s going to take to qualify for that mortgage.

So everybody just thinks that they’re going to throw out free love and free money right now. That is not going to happen guys. It’s going to be more and more difficult. Your credit cards oh this is going to change credit card interest rates and you have them dropped by 10%. You’re kidding yourself. People are not paying their bills so they’re going to raise the rates right now. They’re going to take forever to low your rates. Now I have an audience that’s loaded with a lot of wealthy people who are very successful.

They don’t rely on their credit cards right now to live. So with that being said you’re going to see it more and more difficult for interest rates to drop on things like that and like car loans. Think about this. You want to spend 80 grand on a car right now? 80. 80. Okay. Yeah it’s going to be great. It’s going to be a nice car. I’m telling you guys get ready for what’s coming. You can talk about interest rates dropping down to 4% for mortgages and all that nonsense and it’s just that it’s nonsense.

By the way look at this during a baseball game there’s no one here. Okay. Again you want to be alone come to Anaheim Stadium. I love these tickets. I love coming to the games. I love sharing seats. I love donating the seats. I love it for business. I love everything. I have friends that come from around the country and you know they enjoy the game. They go to the Diamond Club which is the nice restaurant here but man oh man I’m telling you you want to see you want to see a place empty? Come here.

Go to Chicago Stadium too where the White Sox play. That’s nice. Everything is off right now. Remember that. You can kid yourself and talk about how the economy is so great. Inflation is down. I am telling you I was looking at my energy bills over the last year. Things have doubled here in Orange County California with Southern California Edison. Well sir your usage has gone up. Nope it’s not. It’s not. And what you’re seeing is the fact that they’re charging people more money. But what do you do? What do you do if your electric bill goes up a hundred dollars a month? Who can afford that right now? Let’s just get by.

I’m gonna show you guys the team score. They’ve got a few cool things here. You know if you’re into the Angels they get all this stuff. Okay one thing that they have here. Oh this is the Diamond Club. You know that’s the nice restaurant that you can go to and you know they got the buffet and all that stuff you can go hang out at. It’s pretty cool. But one thing that they have up here is they have an auction during the game where they sell merchandise. Team merchandise. You know if you have an opposing team come to town.

Especially like the Dodgers and San Francisco and teams like that. They will sell jerseys for the other teams and they’ll auction them out. That’s kind of a cool thing. But again guys look at this. Completely dead guys. Completely dead. Let me know what you think so far. The final story is to finish this video. The first one was sent by Steven out of the UK and that is TGI Fridays in UK. Their largest franchisee. You guys it’s a baseball stadium. There’s no one here. Okay so you’ve got 37 locations of TGI Fridays that are going down.

But here’s the wild thing about this. There’s 4,500 people that work at those locations. All the corporate offices everything. That is terrible guys. 4,500 people are gonna lose their jobs. You cannot afford it. Globally you cannot afford it. Now here’s something you’re going to hear a lot more about. Not just because it’s her but people doing this. Mariah Carey has a New York apartment that she owes 18 million dollars. And ah damn big deal. Celebrities owe money all the time. The place is worth 9 million bucks. What do you do? You keep borrowing money against a house and a bank lends it to you when the place is worth 9 million dollars and she has 18 million dollars worth of mortgages on that house.

Do you see a problem? Plus Mariah Carey has been known that she just spends money you know all the time. See this place? This is the new nacho stand that never opened this season because nobody comes to the stadium. So again guys absolutely dead. Wanted you to see this before the season ended. But please don’t forget to hit the like button. Don’t forget to subscribe. Send me the emails guys. Hello at iallegedly.com. Sign up for our email list because one is going out later today. Okay so thank you for being here and again if you want to be alone you come to the Anaheim Stadium where you come to beautiful Chicago Stadium.

I’m sure they’re just as dead as we are. Okay I’ll see you guys very soon. [tr:trw].

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