Summary
➡ The speaker shares concerns about the current financial landscape, highlighting issues such as an insurance agent losing his job, increasing costs of living, businesses closing, and mismanagement of tips in restaurants. He also mentions the shrinking service economy in Canada and warns of more businesses folding in the near term. Finally, the speaker cites poor business decisions, such as Stellantis’s plan to avoid showcasing new vehicles at 2024 auto shows.
➡ The recently unveiled cyber truck’s performance doesn’t match the advertised range, particularly under non-optimal conditions. Denver’s record number of evictions in 2023 is indicative of the struggling economy, which is leading to an increase in homelessness and financial pressures on landlords and banks. Broadway shows in New York are facing declining attendance due to a combination of financial restraints and concerns over crime.
Transcript
And people are tapped out, to say the least. Now, do you guys know what this is? Valpac. Okay. This is one of the advertisements that I look forward to because it’s got all the discounts in it. It’s got the pizza ads, it’s got the fast food ads, the restaurant discounts, big five sporting goods. I need new shoes. So they have the discount for that. But this is something that normally has coupons in it every month.
And I have my address hidden so you can’t see it, but just want to show you that it is paper thin now, guys. And the number of ads inside of it, it traditionally had over 100 guys. There’s 15 in it now. 15 ads in this thing now. Trash. Okay. The point is that when I called the company to say, hey, oh, you want to advertise? Oh, yeah. Let me show you what the rates are for that.
No. Why is it so light? Well, people have pulled back. Don’t people buy two and three months at a time? Traditionally they do. We recommend you do a year, sir. But again, sales are off so much. People are not spending the money on things like that. This is the sign of the times that you’re seeing with advertising and with things cutting back now. Next thing is there is a supermarket store chain in France that is sick of PepsiCo products.
And they said enough is enough. Two months ago, they put up signs about shrinkflation in France. This company is called care for. They have over 12,000 stores. And what they’re saying is the products that PepsiCo sells are charging us more for these and you’re getting less volume, so you’re getting shrinkflation. And this is something that the people in France are sick of. The CEO of Carefor even went on LinkedIn and did a LinkedIn post about this, talking about how enough is enough.
Well, what they did this week pass. We’re not going to carry PepsiCo products anymore because of the ridiculous price increases. You cannot have a price increase to oblivion and have it be that it’s going to be okay. You just can’t price yourself out of the marketplace, which is what Pepsi did in France. So right now, they’re not going to remove the existing PepsiCo products. And think about this is Doritos.
It’s the chips. It’s everything that they sell. Seven up. It’s everything. They’re not going to sell it at these 12,000 stores. Think about that. That covers millions of people, guys. It really does. And Pepsico is going to face a huge backlash as a result of this. So again, you have to see this. You cannot sit there and say, we’re just going to tax people to oblivion and, hey, you’re going to pay more.
Now, Pepsico, at their last earnings statement talked about, hey, because of price increases and inflation, okay, we’ve made more money, so Pepsi’s not hurting. Don’t act like, you know, the victim in this thing, because they’re not. They’ve made an absolute fortune as a result of this. But the people in France are. No, no, it’s harder to live. It’s harder to get by. People cannot afford the inflationary spike globally that’s happening.
And they’re going to pay for know. Okay, so enough is Valpac being, you know, paper thin to where I almost missed it. That’s how thin it was this month. And you can sit there, say, oh, Dan, it’s January. People didn’t advertise. No, people pulled their advertising. This is the bad sign of the times for 2024, that people are not spending money on things like that because they’re ineffective.
Because you don’t have any money right now. Remember that. Now, something else that was completely disturbing. I have had the same insurance man with state Farm for close to 20 years now, okay? Two days ago, he gets a notice from State Farm at 03:00 in the afternoon, effective at 05:00 p. m. You will no longer be a state farm agent. And we are seizing your book and our thinking is not aligned with you as an agent for the state farm company.
Okay? Now, I get a text from him and I’m like, scott, what is this? Well, Dan, it’s know, I had a real problem lately, fighting for clients to get paid. And what you’re seeing is, and we’ve heard this, okay, state farm is canceling everybody’s homeowner’s policy. What Scott has done and what Scott has done for me in the past, and I’ve thought about the catalytic converter getting stolen, car accidents, everything he’s handled in the two decades he’s represented me that I’m like, wait a second.
This is ridiculous that this is happening. They’ve been a good company in general, but he started to have to fight for clients like, hey, your car is only worth 8000 when it’s worth 12,000. And they were upset with him. Hey, you need to stop doing this. You need to stop trying to get more money for your clients. And he was like, are you kidding me? These are my clients that I work for.
So they cancel him for this. Now, with me, think about this, guys. This last year, my late girlfriend, dealing with her car catalytic converter gets stolen out of the Prius that she had, okay? They get it fixed quickly. Two weeks later, Prius gets stolen for the second time. The catalytic converter does, out of the Prius in front of the house for the second time. This happens so much that the police department does not come out for crimes like this.
You got to come in and file it with us. And, okay, when I went back the second time to file the second police report, because you have to have that for the insurance claim, the officer said, wow, I thought you were coming to get a follow up or the completed report in the first one, because we have that done. Here it is. Oh, okay. So, craziness, craziness, craziness, craziness.
Oh, gosh. Look what I stumbled upon. Okay, so the sign of the times. Think about this. They’re taking his book. He doesn’t get the right to sell it. He doesn’t get the right to transfer it to somebody. He loses the customer. He loses me. So my daughter calls me, who has insurance with Scott also, and says, hey, did you get his text? What is this? And I said, it’s crazy.
It’s absolutely the sign of the times. And she said, dad, think of all the people that we’ve referred to Scott. So on a phone call, her and I, back and forth, we came up with 16 people other than us that have insurance with this guy. Yeah. Because he’s such a bad guy and he’s incompetent and he’s everything. Okay? Is that crazy? So again, you’re going to start seeing this more and more.
Now, one of the people that I called, it was like, hey, did you know that this happened? He used to be an Allstate agent. And during that, couldn’t make it as it. And sold his book and transferred. He goes, yeah, state Farm is different. They can just take it from you. And he’s done. He goes, I don’t think he can sue. Well, I got him a lawyer and he can go talk to the lawyer this week.
But this is the sign of the times, guys, that you’re going to see people that you do business with go out of business. You’re going to see companies that are like fed up with this. Now, the next thing is the state of California because of the emissions requirements. Think about this. Chevron, the bad gas company, they have a carbon tax that they have to pay of $4 billion.
Kevin O’Leary is freaking out about this and they’re saying that, hey, you guys are polluters and you guys are terrible. And there’s no other alternative. So Chevron has to pay this $4 billion tax now. Okay, I’m not arguing green stuff with you guys at all right now. But again, taxing a company to oblivion, to where it goes out, raising prices so much to where people say enough is enough, we can’t do it.
This is not a business friendly environment for anyone. For anyone. So you have to protect yourself. You have to do what you can do right now to protect yourself. But this poor insurance man, I mean, think about this. I have a ten year multi, I have multi car, all the referrals, everything I’ve given this guy. Plus I have a ten year customer discount that I have with this guy.
That’s gone, guys, because they’re going to transfer me to Joe schmo. Okay? So think about this. Someone’s going to get this guy’s business that didn’t earn his business or state farm will just keep it themselves. It’ll be interesting. But I want the explanation that they didn’t give him. I’m going to get it. So share your thoughts on this. Have you had your insurance company cancel the agent lately? This is the sign of where we’re at right now, guys.
This is a bad, bad sign that people don’t want to look at. Oh, you’re a gloom and doomer, Dan. All you do is talk about the negative. No, I’m a realist, guys. And again, you can thrive in a downtime, but don’t sit there and think that everything’s going to continue forever. This guy is a great guy. This guy, I’ve known him so long when I went through my divorce and I had my problems with my kids.
Hey, man, you can have your kids stay at my house, okay? This is one of the best guys in the world, okay? And has helped people out and again loses his business overnight like that, literally in 2 hours. Hey, effective 05:00 today, you’re no longer a state farm agent. Isn’t that wild? Absolutely. Unbelievable guys. Now people are going to say, oh, he did something, Dan. He had to have done something.
And I asked do, what did you do, Scott? What’s wrong with this picture? Now understand this, guys. He doesn’t collect money, doesn’t take premiums. You have to pay state farm directly. They have your credit card on file. It gets billed through them. And again, he thinks it’s all the problems he’s had over the course of the last year where they didn’t want to pay claims and didn’t want to pay auto claims for what people were worth.
They didn’t want to pay what claims should have been paid. Is that wild? So let me know what you think about this. But what do you think about this? The Valpac being zero, the French getting rid of PepsiCo now again, is Pepsi going to have to lower the price? What are they going to do? Okay. All they’re doing is bragging about how much money they’re making right now.
It’s terrible. So let me know what you think about this. Let’s talk about our sponsor, Patriot Gold Group. In 2024, it is time to reevaluate your finances and it’s time to look at protecting your retirement. The best place to do this is an IRA or 401K that’s backed by physical metals. Number one, rated for over seven years, is Patriot Gold Group. Contact them today. Use the link below or call them at 88833 00:14 31 it’s very simple to buy gold.
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They will answer all your questions. 88833 00:14 31 do it today before it’s too late. We have talked a lot about banking and banking problems over the course of the last year, ever since we had those four banks fail in March of last year. Now you’re starting to see the banks that were all shored up and everything was perfect. Talk about how, hey, the rate cuts that the Fed has been talking about, that may never happen, may not come soon enough to prevent more bank failures.
Right now think about this. There are $5 trillion worth of commercial loans for commercial buildings that are going to be called in. And think about this. Guys, right now you want to travel someplace. There’s travel deals all over the place. It is incredibly inexpensive right now to travel and you have to do your due diligence. But these hotels are hurting right now to have people come out to them.
And you’re seeing more hotels given back to the bank, office buildings being given back to the banks. And this is going to continue in 2024. It is just a matter of time. Everything is more expensive. Had a great article sent to me about how expensive it is to be single now and dating and what a meal costs and things like that. And it’s funny, I went and bought somebody a gift where, hey, I want to get them $100 gift card.
Well, you know, sir, $100 isn’t really not going to do it here. Why don’t you make it $150 so they can get drinks and they can do that? Think about that. Okay, well, won’t buy a dinner. Okay. So, yeah, get $150 gift card instead of 100 for these people. Wow. Great story about how it costs 40% more now to be single than it did four years ago. Isn’t that crazy? 40% more to be single.
So dating is more expensive, living is more expensive. And again, if this led to dating stuff, but it’s also just to be single in general. Guys, people are paying the price. Gas is more expensive. Food is more expensive. It’s more expensive to go out. And I have more people that write me and say, dan, we just don’t eat out the way that we used to. We shop for discounts.
We’re coupon shopping. You’re doing that more and more. But then when you look and see things like Valpac that don’t have the coupons in it like they did, what’s going to happen, guys? What’s going to happen? You have to pay these prices. And these restaurants have not gone out of business, but they don’t want to advertise and spend the extra money to put them advertising in places like Valpac that just aren’t working.
So, sign of the times. Let me know what you think about this. But it is a precarious time right now, to say the least. Now the sign of the times. Think about this. Here in southern California, there’s a restaurant called the Salt Creek Grill, which is in Dana Point. It’s on the corner of Pacific Coast highway, ten minutes from where I’m at right now, and Crown Valley Parkway.
27 years in business. This is the last weekend it’s going to be open. And they’re closing the restaurant. And it was great. It also was a great place to meet people because again, it had Everything. It had a full bar. It had everything from a burger to great steaks. But they’re done. Can’t make it. Can’t make it anymore. And the articles below talking about this, which is very sad, guys, because what you’re seeing is more and more people that are just going to fold up job, can’t afford the new minimum wage here in California, can’t afford this.
And again, this is a place that the waiters and waitresses made hundreds of dollars a day, but now you’ve got to pay them $20 an hour too, to serve. So sign of the times, guys. Absolute sign of the times. There’s a french restaurant in Pasadena that prided itself on no tipping. Hey, no tipping. Entree new. Well, they’re getting sued by the federal government now. And what they did was because some people are like, hey, gave out tips.
These guys withheld in 2021 alone $12,000 worth of tips and only paid about 7000. Hey, even though it’s no tipping, we got some tips, but they kept and withheld tips. And again, what does it take an angry person that leaves you that doesn’t think that they were fired justly. I shouldn’t have been fired. You guys hit on me. You guys were terrible. You guys gave Jennifer the better shifts and then she turns them in.
And sure enough, lawsuit festival for these people. But this is really serious because these charges, when you read this, mean they’re getting sued. They’re getting their brain sued out over, you know, their service economy right now. Think about this. The service economy in Canada has know, getting your house fixed, having people do things for you, hiring the maintenance guy. Everything shrunk again for the 7th straight month. Again, you can’t have an economy where everything goes down and you have to have small business be successful to fuel everything else.
This is critical right now. Globally, it’s critical. But people don’t want to look at this. People don’t want to sit there and go, oh, that’s just, Canadians are stupid. Have you guys met a canadian? No, you guys. How, this is not national news. Every minute of the day you get to hear it from here. This is a very, very serious problem. And you’re going to see businesses that you never dreamed of, like salt CreEK, go out of business in the first quarter of this year.
You’re going to see people that are just done and have to fold up shop. So let me know, guys. It’s going to happen more and more often. I’m going to finish this video with these last few stories. And the first one is Stellantis, which is the old Chrysler company. They just came out with a new marketing plan that is stellar. Okay? And their stellar marketing plan is that they’re not going to show any of the new vehicles at any of the auto shows.
None of them globally in 2024. Okay, just go buy the car, guys. You don’t need to see it in advance. Okay? Unbelievable. The cyber truck came out, and it’s a beast. It’s fantastic. Well, a guy did a live stream for 4 hours showing the range, and the range is only 80% of what was advertised, and basically ran out of juice on the live stream. So what’s going to happen, guys, when you don’t have a gasoline powered car? What’s going to happen now? It got 254 miles in normal conditions.
But hey, listen, in all fairness, it was 45 degrees outside. It wasn’t optimal conditions. What does that mean? Do you guys. Not everybody lives in 75 degree weather. It’s cold right now around the country, but you can’t have an electric car there. You guys are doomed, doomed, doomed, doomed, doomed. If you’re going to rely on this. City of DeNVER RighT now, had record evictions right now for 2023.
Over 12,000 evictions in one city alone. I want to thank BriaN for sending me this story, because once again, this is the ammo that you need when you see this stuff. And again, record evictions. Everything is great in the economy. I am telling you, if you don’t want to spend money, don’t spend money, but save your money and be ready, because you’re going to see people move in with other people.
You’re going to see more People become homeless. And you’re also seeing municipalities and landlords and people fed up with not getting their money enough. And banks are starting to collect like they never did before. We’re tired of people not paying, so we’re going to get our money. That’s what they’re seeing right now. Final, final story is Broadway, New York. People are going to Broadway shows right now. Do you want to know what their number one reason is? Crime.
Guys. They’re tired of spending all that money for those tickets, getting a hotel room, going downtown in the cold, and paying top dollar to see a show. Okay? And again, they don’t have the money to do this right now. So do we want to risk our lives and see cats again? No. Okay. And again, I don’t know if cats is playing. I don’t know if it would save my life.
I couldn’t tell you the name of one Broadway show, okay? So please don’t forget to hit the like button. Please don’t forget to subscribe to the channel. You want to email me something like Brian did? That was brilliant. And that is. Hello@ilegedly. com. Okay. Join our email list. Be part of the channel. Thank you, one and all, for being here. And I love mom yoga. Okay, have a great day.
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