➡ Dan discusses the current financial situation, highlighting the unrealized losses banks are facing due to devalued securities they hold, which can potentially collapse several banks. He also expresses skepticism over affordability of Tesla’s cyber truck, shares real estate expert’s opinion to avoid property investment at this time due to falling contracts, and highlights the increase in cyber crime affecting businesses.
➡ MGM is struggling financially, and GM recently pulled $10 billion in funding for EV cars due to lack of demand. Tesla, too, is facing challenges. Meanwhile, some fast-food restaurants in California like Chipotle and McDonald’s are grappling with the imminent $20 per hour minimum wage, which could lead to higher prices for customers. The higher wage could also result in more automation in the industry. A financial planning approach is advised for individuals given these economic changes. On the global scene, large banks like Lloyd’s Bank are closing branches, impacting predominantly poor communities and the elderly. Additionally, an analysis of financial needs showed that, since the Biden administration took over, the cost of living for the average family has increased by about $11,400 a year. Finally, Mark Cuban has stated he has no interest in running for President of the United States, despite speculation.
➡ The speaker predicts a potentially polarizing figure, Mark Cuban, to be a nominee which could result in interesting developments, and encourages sharing thoughts, liking, subscribing, and signing up for emails.

Hey, it’s Dan. Welcome back. This is I allegedly, and I’ve got a good one for you today because we finally know why banks are failing, and there’s a great story to support this. Please take a second. Hit the like button, subscribe to the channel, make sure you’re on the email list because we’re going to announce our holiday giveaway. And today we have a sponsor, Patriot Old Group, which I will cover a little bit later.

First things first. Banks right now have unrealized losses on their books. They have assets for securities that they have purchased that are basically gone down in value, and they have massive losses, but they have not sold them yet. They’re just holding them. So this is the equivalent of you buying a stock and having it drop dramatically and not taking the loss yet. The problem with this is the bank generally are public companies, and these losses could basically undermine and completely destroy multiple banks.

This amount of money grew to a total of $684,000,000,000 in the third quarter. We’re just getting these numbers right now. This went up another $391,000,000,000 for these losses that have not been sold yet. This is absolutely going to be catastrophic. It’s going to be the thing that puts banks out of business. And the problem with this is that you get all these stories now of banks that they’re having problems having problems logging in, having problems with credit unions logging in.

Now, you have to have multiple sources to have your money, guys. You really do. Credit unions are generally safer than banks, but every bank has basically a product that they sell. Some did commercial loans which are going to be in huge trouble. Some did car loans, which are most credit unions have car loans. The problem with this is that credit unions are definitely upside down when it comes to the car loans.

But these unrealized losses on these securities are going to be catastrophic and going to be huge. We just heard from Tesla. Now, this is one of those do you believe this? The cyber truck is going to come out and it’s going to start at $61,000. They finally have a price for it. And come on, do you believe that? Do you believe someone’s going to walk in and buy that truck for $61,000? I just don’t.

I don’t believe it at all right now. So share your thoughts on this. Also, if you guys get any video of this, send it, send it, send it, send it, because I really want to see one up close. I really like to see the video and send it to hello@iallegedly. com? If you get to see a cyber truck. Now, the other thing is, it’s hard to believe that as we get older, that the certain data was not collected 50 years ago.

Perfect example is houses under contract. That data think about this, that data was collected since 2001. Is that wild to think about the number of houses that are for sale that are under contract, meaning someone’s made an offer and it’s under contract. These are dropping to the lowest level since they start keeping records in 2001. So you have all these houses that are for sale that are falling out of escrow, and you have less houses available for sale.

Now, people in the real estate business, they see there’s no inventory. Dan prices are great. It’s time to get into real estate. You’re insane if you do this right now. I sat down today with a real estate expert who said that this is the time to steer clear of any property. Don’t buy anything anywhere. Where would you recommend that I invest in the United States? Nowhere is what his answer was to me.

Nowhere. And he owns multiple properties in different states and different houses and multifamily units and said, Steer clear of everything right now. Have this conversation with me twelve months from now. Wow. But since they kept records, guys, since they kept records, this is the lowest amount of sales that are happening under contract right now than ever. It dropped 1. 2%, which is people say it’s no big deal if you are in the real estate business.

You’re trying to tell me how great things are and that interest rates are coming down. If you have gold credit with a huge amount down, you can get a mortgage in the seven and a half percent range. Who’s celebrating that? Seriously? Last month, they were as high as 8% for good credit. And it’s only getting worse, guys. So share your thoughts and all this stuff so far because we haven’t seen anything yet, and this is just the beginning of this thing going south.

But who knew that they didn’t keep records like this? Now we’re still seeing rents sky high. We’re still seeing that the foreclosures that banks right now are doing everything they can to kick the can down the road when it comes to foreclosures, one thing that they did with forbearance it ended. Okay, but if you have a VA loan, if you’re a veteran, they’re extending this for six more months.

So good for the veterans. Hope they make it through this time. But that’s what’s happening right now. So you’ve got no more extensions after this point. So it’ll be interesting. It’s going to be a December to remember this. Right now is the perfect time of the year to get everything in order. And I’ve told people this time and again, get your finances in order, get your health in order, get your insurance in order, medicaid, Medicare.

Can you believe here in California that come January 2024, they’re going to give free health insurance Medicaid, to anybody that comes? Okay? So that includes if you are not from this country and you walk across and you don’t have a job and you don’t live here, you know what I mean? It’s insane. Right now, I’m a guy know, mid to late fifty s and I have to pay for my own health insurance.

And it is pricey, pricey, pricey. Okay? And the fact that other people are given things for free is outrageous. Okay? So share your thoughts on this and let me know what you think about this so far. Let’s talk about our sponsor, Gold Group. You know, with the wars in Israel and Ukraine and the threat of a rate cut next year, it’s only done one thing it’s made gold shoot up in price.

And if you listen to people like UBS and JPMorgan and BlackRock, they’ve said that we haven’t even seen gold hit its highs yet. So call Patriot Gold today 88833 00:14 31 and find out how you can get an IRA or 401K that’s backed by physical metals. They’ve been number one rated for over seven years for good reason. Customer service is the best. Call them today 88833 00:14 31 do it now before it’s too late.

But also, you haven’t seen gold hit its highs yet. You don’t want to miss out on this. Call them today 8833 00:14 31 and let them know that Dan from I allegedly sent you, use the link below our give them a call today. I love when I get emails from people and they try to contradict stories, specific stories that come from news agencies like CNBC. When CNBC talks about how bad manufacturing is no, it’s not, Dan.

It’s manufacturing. Fantastic. The numbers about power being used less and water being used less and gas being used less, natural gas that is, is just exaggerated. And then you got Winfield, Kansas, where the old Tupperware plant where 169 people are getting let go at the holidays from the manufacturing plant. Hello? It’s awful. Absolutely awful. So, you know, another story. Okta got their company got hacked with a ransomware attack and all the customer data support has been lost okay.

And been given to the bad guys. The thing about this is they say, hey, it’s only 1%, but then they send a letter out to everybody to talk about how bad it is. Mountain View Credit Union did the same thing. Someone write me today and send me a screenshot that she got from Mountain View Credit Union talking about how, hey, we did have an attack and it looks like they didn’t get any of your data, but you can’t log into your account.

We don’t know when you’re going to be able to check your balance. We don’t know when you’re going to have access to your funds. But don’t worry, they don’t have any of your data. Who believes that? Do you believe that when these hackers do this, you think they just want to shut the system down? Is that what the goal is? You’re crazy to think that this is happening at such a meteoric pace.

I mean, you can’t even keep track of all the cybercrime that’s going on right now. And because these people paid, I talked to friends, they really think it was the Caesar’s Palace thing. When Caesar’s Palace got shut down and MGM Grand got shut down and MGM Grand said pound sand, and they lost all that money. And Caesar’s Palace, when they showed them how they could shut their emails on and off and they paid them, they paid these scoundrels their money.

And with that they got to stay open and MGM is still trying to make up for that. So absolutely a mess. Guys, you’re seeing this as a bigger problem all the way around. So let me know what you guys think about this. GM just pulled $10 billion in funding for the EV cars because no one’s buying the EV cars. So it’ll be interesting to see how the cyber truck sells and how everybody gets their cyber truck and when they get delivered and how many they’re going to deliver and all that stuff.

But Elon Musk is under attack. Tesla’s under attack, just interesting to say the least right now. Great article. About five different fast food restaurants here in California that are facing the $20 per hour charge in January. And this is going to be huge, okay? Absolutely huge. So what they’re going to do to combat it? I’ll tell you what they’re going to do guys. You’re going to have burritos at Chipotle be $15.

You’re going to have a quarter pounder and cheese be 1150. It’ll be crazy, things like that, but great article. And again. Chipotle McDonald’s, jack in the box. I remember forever. Their tacos were two for ninety nine cents. I spoke years ago, I’m as a kid when I did this in my twenty s, and I spoke to a guy who was a manager, Jack in the Box, and he told me that they could make the tacos for less than twenty five cents and sell them.

At was one of the most profitable things they did because you buy fries and you buy other stuff. Stuff. Now the tacos are $2. Okay? Shake Shack and Denny’s, denny’s considered Denny’s fast food, but they’re talking about what they’re going to do with the $20 an hour. It’s going to be a big deal guys, because I’m telling you, if you have a restaurant and you think you’re going to pay people just a low, minimum wage, you don’t have to pay the $20.

And it’s a lot of money. It’s a lot, a lot of money. So this is going to dramatically affect everything. That’s why there’s going to be robots. That’s why you’re going to have more restaurants that don’t have a staff because you don’t have insurance. You don’t have Cheryl showing up late, fighting with their boyfriend, couldn’t find parking. You know, the biggest problem with the Formula One race was they didn’t plan on how they were going to take care of the employees that worked at the existing casinos and how they were going to get to the casinos, because as you close roads down and we build this and do that, and they didn’t really organize it that well and just says, hey, you may have some inconveniences.

Well, if it takes you 15 minutes to get to work, that’s what you’re used to, I’ll add another 15 minutes to it. Make it 30 minutes. I spoke to so many people the last time I was in Las Vegas and how it would take them 2 hours, two and a half hours to get to work. And one woman was completely devastated because she got written up for showing up an hour and 45 minutes late to the casino, and they just wouldn’t tolerate it.

And the other one was having to park a mile away, and then they would shuttle them in. How awful was that? But again, didn’t get paid for that. Didn’t get bonus pay, didn’t get hazard pay, got none of that during this time. So share your thoughts on this. Tide’s really low out here tonight. It’s always nice to see this. So let me know what you guys think, guys, about all this, because this is the time of the year in December that I always pitch this and that is get your house in order, get your health in order, work on all this stuff.

Do your financial plan right now. Talk about your taxes, have the appointments now. Do what you’re going to do to make a change so that when 2024 rolls around, you’re set. You come out of the gate flying and you’re not behind. And again, be somebody trustworthy. Be the best team leader you can, even if you’re by yourself. I tell this to so many people that they need to plan on being somebody.

Know you’d want to be the best person in the well, I’m just me, Dan, okay? You still want to be that person. You want to be trustworthy, you want to not let yourself down. Don’t play games with yourself. Don’t convince yourself. You know, it’s funny, my son is self financing his college for a thousand reasons, and I’ve helped him out with certain things. So don’t start writing hate mail and stuff, but he’s not going to get student loans, okay? That’s what I mean by that.

And one thing that he was going to do was come out and take two weeks off. And he said, you know, I’d rather work during this time. He works at a real high end restaurant in the Boston area, and I’d rather do this and make this money now while I can. And instead of coming out, I said, great, come out my birthday, come out in a different time.

And that’s what you need to do. You need to have plans like that over the immediate, okay? So share your thoughts on this stuff. These EV cars are going to be a mess. The debacle with the cyber trucks, a lot of people want them, a lot of people think they’re cool. It’s going to be interesting to see how this comes out and how it plays out. So share your thoughts on that.

What other car, what other EV car are you waiting for? Are you saying, oh, I can I’m so excited when the Rivian comes out or Lucid has another car. By the way, Lucid loses $227,000 for every car that’s driven off the lot. That’s a company you want to invest in. Okay, share your thoughts on this stuff so far. Now, it makes no difference where you guys live on this planet, because we are all affected by what’s happening with the economic system, and things are breaking.

Okay? Steven out of the UK always sends me great stories. And right now, a big problem is Lloyd’s Bank is going to close 45 branches of Lloyd’s Bank to the public, and they’re saying they’re pulling what they pull in the United States right now, and that’s not what we normally have here in the UK. So big problem for people worldwide, and you’re going to see branches close around the world, and it makes no difference where you live.

But the big thing with this is that, again, it affects the poorest community and it affects the elderly when this happens. So UBS Bank people keep sending me screenshots of how they bank with UBS, and they’re trying to do transfers, and they’re frozen, frozen in time right now. Cannot get the money, cannot stop. Don’t want to I don’t want to transfer money. I don’t want to get it out of there, but it’s just freezing at this point.

So credit union here in Orange County, people are telling me that they’re having a problem logging into their credit union, and I haven’t been able to verify that yet, so as soon as I do, I’ll share that with you if that’s a problem. But again, doesn’t matter where you live. Have multiple sources to get access to your funds. And again, Dan, I don’t have a lot of money.

Why do I have different banks? Make sure you have a plan and make sure you have cash on hand so that if something like this happens, you’re not stuck and you’re not held out to dry. Now, final story, just a quick video for you today. An analyst did an analysis of financial needs and what you need to live right now since the Biden administration took over, and it cost the average family $11,400 a year around the country for gas, for rent, for insurance, for food, for everything, car repairs, everything.

$11,400 a year. Guys. Understand? Guys, think about that. What’s that? $900 a month. Okay, that is huge, guys. It’s absolutely huge to sit there and to have that added. Now, the best state for this was Kentucky, because it’s only 9700 extra a year that you need. So people cannot afford this. Where do you get the extra $11,000 a year for this? Who’s got that? So share your thoughts on this.

You’re going to see major changes. I love the wacky laws that people send me. I always love this time of the year. We’re due for the crazy estimates that are guesses that people think are going to happen. Now, close this out. Mark Cuban, friend of the show, good friend of mine. No, met the guy twice, guys. Okay. Anyways, Mark Cuban just sold his interest in the Dallas Mavericks and is stepping down from Shark Tank, but says, hey, I have no interest in running for President of the United States.

Who believes that? Seriously, who believes that? A lot of experts have said that there’s going to be some type of celebrity that would run for, you know, this is just going to be interesting because Mr. Pudding is not going to be the nominee. That’s going to be my prediction. Okay. And you’re going to see other people step forward. It’s going to be very interesting. Share your thoughts on this.

We don’t talk politics on this, but Mark Cuban running, I think that’s going to be very interesting if this happens. And again, polarizing, because people either like Mark Cuban or they hate you know, the only guy I could think of that would be more polarizing would be Grant Cardone. But Grant Cardone, people can’t stand that guy right now. So it’s a lot of that. So share your thoughts on all this stuff.

Please don’t forget to the like button. Please subscribe to the channel. Share this video if you want to email me. Hello@iallegedly. com, and don’t forget to sign up for the email because this is the last chance because it’s going out later. Okay, I’ll see you guys real soon. .