➡ Dan, the video host, discusses the struggles people are facing due to the current economy. He shares stories from viewers like Mary, a trained chef who can’t find work and is struggling with rising living costs in Florida. He criticizes those who claim the economy is doing well, arguing that many people are struggling to make ends meet and are having to sell their possessions to survive. He also promotes a VPN service and discusses Elon Musk’s activities in China.
➡ The speaker discusses the current economic situation, warning that things might get tough soon. He suggests that people should prepare for potential financial difficulties, especially those who own businesses. He also talks about the housing market in Florida, predicting that house prices will drop significantly. Lastly, he expresses skepticism about the safety of self-driving cars and the claim that retirees have more money than ever before.
➡ People are spending more money now than they did four years ago, with even fast food becoming expensive. Many mid-level restaurants are disappearing, and some, like Denny’s, might even go bankrupt. Meanwhile, financial education is lacking in schools, leaving kids unprepared to handle money. Lastly, people are finding it hard to sell their homes due to high interest rates, but some are coming up with creative solutions like seller financing.

Hey, it’s Dan. Welcome back. You’re watching. I allegedly, and I got a good one for you today because I’m in San Diego and I’m at a place called Shelter island. It’s down the street from Liberty Station and just a beautiful spot. A lot of boats, a lot of vacation areas. But had to have a meeting down here and thought I’d pull over and film first. But we just had an email go out, and I want to talk about that, but please don’t forget to hit the like button.

Please don’t forget to subscribe to the channel. And today we have a sponsor, and I’ll talk about them a little later. But first things first. Mary wrote me and was talking about how difficult it is being unemployed right now and that Mary is a trained chef and cannot find a job in the Florida area and how incredibly expensive Florida has become because it’s just outrageous. Now, what she’s experiencing is what so many other people are experiencing, and that is she can’t get a job for what she went to school for.

And they’re just not hiring for this. Now, this is not a fry cook at Denny’s, okay? This is somebody that’s classically trained and cannot get a job at a high end restaurant as a chef, okay? Now, hey, start your own catering business. Start your own deal. Sometimes people just can’t do it. They can’t swing it. But what Mary continued to talk about was the problems with her Homer’s association and how they wrote her and said, we need to double the reserves and we need more money from you every month.

And people can’t afford it. Can’t afford food, can’t afford energy costs, can’t afford the insurance costs. And now the HOA fees are going through the roof. Okay, well, nuts, guys. Everybody’s experiencing the same thing. And it goes back to, you know, our main man, Jamie Dimon, who completely infuriated me because the transcript of his talk finally got released at his last event. And he was talking about, oh, you know, the underlying economy is good.

I am telling you, Jamie Dimon is going to run for president someday. Like, we’re all stupid and we would vote for this guy for anything, okay? Sitting there telling us how great the economy is and how the underlying consumer is doing well, and they still have savings, they still have COVID money. How insane is that? Okay? How you guys got a stimulus check in 2020, you got dollar 800.

Some got 1600, okay? Is that money still left? You’re still spending that and relying on that money. God, you’re the best savers in the world. Now one thing that we’ve experienced with this channel is the news. The fact that people have gone through their savings and I don’t know what planet Mister Diamond’s on, but people don’t have the money for this right now. And people don’t have the money for anything.

There’s downtown San Diego behind me. This is the nice roundabout here that goes to the island. You got all the boats and everything here. It’s kind of a cool area, but lots of ships. You got, you know, the fire department’s boats spinning around out there and the naval ships and stuff. Kind of a cool spot. So one thing that we’re seeing right now is that people have no money.

You know, David wrote me from the email. And also, if you’re on the email list, check your spam filter, make sure you got the email. One thing, if you’re not on the email list, join the email list guys. Okay, take a picture of this thing right here and you can join the email list. But I do a private video every month, a couple times a month, you get this.

And we talk about, you know, things that are going on in the economy, but you get something a little different too. A little bonus. So David wrote me and was talking about how he remembers interest rates at twelve and 15%, inflation at 12%, and how people don’t realize how easily this could come back. And the one thing Jamie Dimon needs to wake up. I’m worried about seventies inflation.

We all are. You should worry about this because they don’t have a control of it. They want to get the war machine going on and think that that’s going to spur the economy. Great, maybe it will. But I’m telling you, it’s just awful because the average person is really hurting right now. Now Ralph wrote me and Ralph said, hey Dan, I live in Florida and people are starting to unload the toys just like you said.

They’re starting to unload cars, they’re starting to loan the boats, the kayaks, the forerunners, the go karts, the golf carts. Everything’s starting to go on sale. So they can get rid of the debt and get rid of the problem right now. That’s what people are experiencing right now. People are starting to get rid of this stuff. I’m telling you guys, if you have cash on hand, you’re going to be able to get a tremendous deal on all this stuff.

And I’ve said this time and again, I had a friend a few years ago that was like looking for a boat. And he’s going to find a boat. He’s going to find a boat. Probably $75,000 off, you know, his original $150,000 price tag. That’s where this is headed right now. You know, do you think people have money right now? Do you think people have savings right now? Okay.

There’s a great article, you know, from Fortune magazine, how the economy is a wolf in sheep’s clothing. And it’s much stronger than we thought. I am telling you this, guys. If you sat there and told Mary, well, things are good, Mary, you just don’t get it. You’re the one out of a job, not us. Everybody else is doing good. The fact that you have restaurant after restaurant after restaurant, driving down to this resort town that are closed, you have shopping centers completely closed.

And we’re supposed to believe that it’s Mary’s fault? You know, ask if you ask Jamie Dimon or if you go to Fortune magazine, the article is below. Check it out. Talking about how things are so good right now. If I tell you that you’re thin and you’re not, you’re still a fat ass. Understand? You’re just a pudgy dude that eats all the time and sits in his mom’s basement and, you know, is a keyboard commando.

It’s ridiculous. You have to fix yourself and have to fix your life. And what’s wrong with this economy is people like Mary that have. I want to work, Dan. I’m looking constantly for a job, but that’s what she’s going to do. Should she go? What? Sell shoes right now because she can’t get a job as a. As a trained chef? No. Should be a chef. Do what you do.

What you do. Okay. But the underlying problems with the economy are out there. Let me know what you think about this stuff so far. Let’s talk about our sponsor. Private Internet access VPN. A VPN is a virtual private network. And what it does is it gives you a level of encryption from your device to any website that you go to. In this world where we are constantly being berated with the potential for cyber attacks and to be hacked, you need protection, and the best place to do it is private Internet access.

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It’s the number one rated for a lot of reasons, but they were the product of the year in 2022. Fry. Allegedly. And 2023, check it out. Today, Elon Musk is in China right now at the chinese auto show where China is showing off all the electric vehicles. And Elon Musk is trying to push his self driving software. So we will see how that works out. But we talked earlier about savings account, found a great article out of zero hedge, talking about who’s got the savings, who has money right now? Because most people have walked through their savings and depleted their savings.

And again, I’m telling you guys, don’t get me wrong. You’re not a bad person if you’ve done this. You need to just understand this, that this is not the bottom right now. So what are you going to do six months from now? That’s the question you need to ask yourself, your spouse, your girlfriend. As I’m driving down to San Diego, I had three phone calls from people talking about, hey, we want to figure out what we’re going to do with the business.

It was like, I could have put them all together and had a conference call because we talked about basically the same thing. And that’s, hey, what if you’re right? What if things are going to go south from here? You know, what do we do with the sales staff? What do we do with my money? I talk to an individual, talk to a guy that owns a business. Okay.

Point is that you have to prepare that this is the good times right now. What if it gets leaner? What if people don’t spend the money? Like, I don’t think they’re going to? You know, the people that have the cash right now are the best people right now. They’ve got the ability to go out and buy things that other people can’t do right now. Okay? So that when the.

When the deals come out, when the boats come for sale, okay, there’s a boat yard. They’re building ships down here. It’s kind of a cool area to walk through because you got, you know, the old hotels and stuff like that. But as you get yourself set up in this economy, you have to not kid yourself with where things are going. You know, I like a guy that makes $36.

5 million a year telling us how good everybody’s doing because they’re just not. They’re just not. And when you look at people in Florida, Florida’s got a real problem. Florida’s a problem with the price of the houses are overvalued. The number of listings, there’s a ton of them right now for sale. You’re seeing people that can’t afford the insurance. You’re seeing people that can’t afford the hoas. And it’s just going to get worse.

And what’s going to happen is eventually someone’s going to start to fire sale these homes. And when that happens, all bets are off, guys. All bets are off. You’re going to see the price just plummet. Okay? Now you can sit there and write me and tell me how Blackrock’s gonna buy everything and, you know, it’s gonna be just a renter’s economy and you’ll own nothing and be happy and all the stuff that the keyboard warriors send me over and over and it’s, you know, control v.

Okay, there’s my comment again for Dan. It’s ridiculous because you have to move forward. You have to be healthy. You’ve got to eat right. You’ve got to not be an alcoholic. You know, you’ve got to work through these times right now. And the problem is people succumb to the negativity right now. You don’t need to do that. You need to understand that bad times in your life are just a period.

They’re a slice, you know, in the grand scheme of everything. And if you work through this, you’re going to look back on these times and go, oh, wow. You know, people that are having a difficult time right now, you’re going to sit there and say, wow, I worked through that and got through it. But get creative now. Work with people now. Reach out to people, people you worked with in the past.

And don’t just tell everybody, it’s fine, I’m hurting. I need some help. I’m looking for a gig right now, okay? I’m looking for clients. You know, it is a very, very different economy right now. And I am not of the Jamie Dimon belief that we’re all doing well and that people saved their stimulus checks. Who the hell these people are? That walk through that Walmart and target just had everybody walk through that money like it was nothing.

But Jamie Dimon supposed to tell us that they still had that stimulus money. Now you can sit there and tell me it’s the stimulus loans and things like that. Everybody had an obligation to spend that money. With a set period of time, guys should have none of it left. Okay. So if they do, they’re gonna have their own problems with that, too. Let me know what you think about this stuff so far.

Just an older community down here. Kind of fun. I know, kind of nice. I love when they build these ships and stuff, and they wrap them. They do all the. It’s kind of a cool thing to say. Very different. But who’s buying the boats, guys? Who’s buying ships? You know, they dry dock and dry store a boat at certain places where, you know, and then they lift them into the water and things like that.

Crane them in, like they do in Newport beach and some of those areas. But who can afford this stuff? Who can afford a boat like this and just have it parked there, you know? Let me know, guys. Let me know. Lynn sent me a couple stories and responded to the email, and I really appreciate that. The first story, you know, she was writing about the bank that went out of business.

We talked about over the weekend that they closed on a Friday night. Well, TD bank just announced they’re closing 20 more branches in Maine, new Hampshire, and Massachusetts. Okay. So if you’re a member of TD bank, I mean, that’s a lot of branches, guys. Why are you closing 20 branches? Okay. And then Lynn sent a second story, which goes on to something a friend sent me over the weekend, and that is self driving tractors.

Do you want a tractor trailer? That’s self driving, ripping down the highway. Is it safe? Okay. I don’t think so. I think it’s nuts, guys. I think it’s absolutely crazy. Now, a friend of mine went to Arizona over the weekend, and she’s like, dan, I’m gonna get in one of those driverless taxis, the Waymo taxi, and send you a video. And the video is gonna be silent, guys, because she was blaring music sitting in the backseat.

But look, there’s no driver to this video. So is that safe? Is this crazy? Guys, look at this. Okay? You’ve got a taxi. You pay for it. You don’t even speak to anybody. It takes you to your destination just like an Uber, but you have no driver. Okay? Now. And then I found another story over the weekend where one of these waymu taxis was on the wrong side of the road, guys.

So what’s gonna happen, guys? Okay. I mean, I saw in Huntington, Laguna beach, excuse me, this weekend, I saw a man on a bicycle that got hit by a car. The ambulance was working on him doing CPR. It was horrific. Okay? But again, riding a bike without a helmet in the wrong place. But what about these driverless cars? Do they know everything? I mean, come on, guys. The story about Tesla is that it’s not a car company, it’s a technology company.

And the value in his company is the data that they get from all the Teslas. Because every time you start that car and drive it, it’s just sending stuff back to Elon, okay, and probably to his phone, because that’s the way he is. But you know what I mean? It’s like, what are you going to do, guys? All you’re doing is giving them the data. And does this make it so that you’d hop in one of these driverless cars? Because I think it’s nuts, man.

I think it’s absolutely insane to sit there and be in these cars. And when you see problems with this, you know, we’ve seen the San Francisco psychos. They write, they light red flares and makes these cars stop and does things like that. I’m at the Marlin Club right here, which is cool because they bring the Marlins in here when they weigh them and all that stuff. And people get their pictures here and stuff.

It’s kind of a cool spot, kind of historic. But let me know, guys. I mean, would you do that? You know, it’s like, you know, would you go out in a boat without a captain of your boat? Would you do that? I wouldn’t. Okay. I know the ocean well enough, but you’d have some guy, some computer drive you to the wine festival. Okay, let me know what you think about this, guys.

I think it’s crazy. This goes along the theme of everybody’s doing great. Doctor Marvin sent me a story about how people are retiring with more money than ever. Baby boomers are doing great. They’re the ones driving the economy. Do you believe that? Guys, seriously, again, I think that this is a case of, if we tell you it’s good, you’re going to sit there and go, yeah, things must be great.

It must just be me. Everybody else is doing good. I need to do better. I don’t think it’s like that, guys. You know, these people are retiring with more money. I don’t know who they’re talking to right now because most people that I know are not doing well right now. So let me know, guys. Let me know what you think about this, because, you know, when you read these stories about how people are retiring, you know, with more money than they’ve ever had, they have assets that they’ve never had before.

Some of this, I believe is true. But a lot of people are cash poor right now. Not everybody’s rich right now. That’s the thing. So the average family right now is spending almost $1,050 more a month than they did just four short years ago. And nobody wants to look at that. But we’re all experiencing this, guys. We’re all spending more money to go out and eat. You know, I have to find out if this is true or not.

But somebody sent me a story about Chipotle, how they have a double steak bowl right now. The double steak bowl right now, they say, is $39 for a double steak bowl. Is that true? I mean, we may have to do a field trip to Chipotle, and I may have to spend $40 on a lunch, but who can afford that, guys? Who can afford that? So beautiful area over here.

Got the park people sitting out there overlooking the bay, overlooking the boats park. It’s just nice. All docked and just a beautiful morning out here. But let me know, guys. Let me know what you think about this, because, you know, the problem with these fast food restaurants, they are just completely upside down right now. People cannot afford this money to go out and eat. You know, there used to be mid level restaurants, used to have Applebee’s and spoons and, you know, restaurants like that, IHOP, even that would be considered mid level restaurant that you could eat and take your family to and get an inexpensive breakfast.

But they’re gone right now. They’re gone. You know, I have a story that was sent to me, and I don’t know if it’s true or not, where somebody says that Denny’s is going to experience a massive bankruptcy right now because they cannot afford to stay open right now on the path that they’re headed, which is bankruptcy. So we’ll see if that’s true or not. But let me know your thoughts on this stuff, guys.

Let me know what you think about this stuff. And have you heard about these high prices at the restaurants? I’m going to finish this video with these last few stories, but I love the stuff you guys send me. Pam sent me ibank. Ibanknet. com that shows you the financial condition of any bank. So check out that site. The link will be below. Gloria brought up a great point and that was back in the day when you’d go to school, they would have people from places like Charles Schwab that would come out and talk to the students and talk about different stocks to invest into.

Mutual fund. What’s the difference between a stock and a mutual fund? What? A dividend is basically financial education. There is no financial education anymore, guys. These kids don’t know how to balance a checkbook. They just don’t get it, okay? And this is something that should be mandatory in the fifth grade as far as I’m concerned. When these kids know how to add things up. Final story was something that someone sent me that was great.

As far as golden handcuffs where people buy a house. They bought a 5000 square foot house in Mobile, Alabama with their pool their dream and now they can’t get out of it because of the interest rate. Well, if the house appreciated, guys, bite the bullet. Take that, you know, equity and get out of the house and move on to something else. Downsize. Well, we can’t downsize, Dan, because interest rates are double what they are right now in our 5000 square foot house.

You’re going to see more and more people do this stuff, guys, I’m telling you this right now. There’s creative ways to sell houses too. You’re going to see more and more people come up with seller financing where basically these people go out and they sell somebody the house, keep the low interest rate in the first mortgage and then have a second mortgage at 6810 percent and that’s their retirement income.

Mark my words, guys. It’s always a way out. Always a way to get money. Always a way to get unload money too. So please don’t forget to hit the like button. Please don’t forget to subscribe to the channel. Join the email list. Okay, and thank you guys for responding. If you’re part of the email list, check your spam filter because one just went out. Okay, I will see you guys very soon.

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