Hey, it’s Dan. Welcome back. This is I, Allegedly. And I’ve got a good one for you today because there’s so much going on right now, but people are absolutely maxed out. And we’re going to cover that. We’re going to cover a lot of stuff in the economy and inflation. And today we have a sponsor, Patriot Gold. I am at Sherman Gardens in Corona Del Mar, California. This place is absolutely beautiful. I love coming out here different times of the year because they decorate it and it’s just beautiful on a spring day like this. But let’s get right into it.

Think about this. Think about this number. One in five people have their credit cards maxed out right now. Twenty percent of everybody out there, one in five of your friends, are tapped out. It’s completely maxed out with their credit right now as we enter summer of 2024. This is horrific, guys. This is really bad news because we keep seeing this go in the wrong direction. We’ve heard about a trillion dollars in bills. But no, no, listen to this number because it’s absolutely staggering when you hear this. That credit card debt in 2024, in the first few months of the year, won a staggering 117 billion dollars.

OK, that’s so wrong. And again, what are they doing? What are they buying? What are you getting boats? You’re getting jet skis? You’re getting new bicycles? No, you know they’re not. They’re just absolutely just tapped out. They’re using it to pay their bills. And then we get the inflation numbers the other day. Look at these artichokes growing. They’re letting them go. There’s a flower. Those are huge, too. But as they, there’s a lot of them over here. The problem with it is that people are absolutely tapped out. Inflation. You know, hey, listen, we thought it was going to be 3.5 percent.

It’s a 3.4 percent. None of us believe this. None of us are that live in the real world and have to pay our bills know that everything that we pay for is more expensive right now. And it’s down one tenth of one percent. So a couple days ago, everybody jumps up and down and thinks about how great that is. I’m just going to just stare at this for a second. No, guys, absolutely not. Absolutely not. So I found a great chart from CNBC talking about everything. And hey, you know, it’s not that bad. It’s going in the right direction.

It’s not. Remember the Fed. The Fed has said that they want inflation to be at 2 percent. But good old Jamie Dimon. Jamie Dimon has said, hey, we need to deal with this budget. We need to deal with the deficit. We need to deal with inflation and tame all of this. OK. And once again, that guy is going to run for president someday. Which again, I just that, you know, man of the people, fat cat, Jamie Dimon is going to be our one of our leaders. And all this isn’t kind of cool. They make all this stuff decorative the way they do.

It’s really, really cool. Very, very pretty. And again, around Christmas time, they build, you know, Santa’s house and all that stuff, but just a really, really cool spot to walk around. So, you know, I am telling you guys, you have to be out of debt right now. You have to do everything you can. All my friends, I keep taking these little one day trips when I fly places and come back. And I was at a party last night talking to people and they’re like, hey, what do you think I should do with my business? And the one thing that we were doing is controlling costs.

And whether you’re an individual or you have 40 employees, you need to really look at making sure that everything works. If you have multiple employees, the one thing that you need to do is make sure your advertising dollars are being well spent and that everybody is trying to bring more business in. Twenty percent of your business should be from your existing clientele. Work on the existing clientele. They are your biggest cheerleaders. And you can go out and you can run a business and you can keep the place going with your existing clientele. Don’t forget that.

And don’t, you know, think that, oh, he’s just speaking, you know, doesn’t know what he’s talking about. You know, you’re seeing all this stuff happen. You know, fast food inflation is through the roof right now. And here’s the thing that blew me away. AI is going to take over. But how about this? How about if you went to Arby’s and they had a camera at Arby’s and it wasn’t somebody inside of the Arby’s, it was somebody in the Philippines. They can have people in the Philippines work for one third, one fifth of what it costs the average worker here.

And they’re having these people work the room and take your order. Speaking to a human being, they just happen to be in another country. So this is going to happen. Plus, please come in. Climate controlled. They steam this room. It’s got all the tropical plants and stuff in here, kind of a fun spot, which I’ll come back here again. It’s very warm in here. But you’re going to see this. And this is as a result of the 20 percent, the 20 dollar per hour increase that they did here in California. You know, California is the highest tax state in the nation.

And one thing that you’re seeing over and over again is let’s raise taxes. Let’s raise taxes. All these different cities are trying to look at how they can increase revenue because they’re not making money because the expenses are going up. The city of Orange, California right now wants to have a property tax increase to make up for their deficit because they’re not making money and they’re losing money. So California went from a 93 billion dollar surplus to a 78 billion dollar deficit. And again, I am telling you, I do not believe for a second that there will be debates with the two candidates right now.

I think that there’s going to be another guy, Governor Herjell, that’s going to be running in his place, in one guy’s place. Let’s put it that way. That’s my prediction. Okay. And we don’t get political on this channel, but you can share your thoughts on what you think about that. I just don’t believe that this person is going to do this. I think that he finally agreed to do it because he knows when he’s going to step down. So share your thoughts on that. So a lot more to cover, but I absolutely love this place. And it’s nice when I walk through it and there’s nobody here.

We’ve got the koi pond. It’s very hot in here right now. So a lot more to cover. Let’s talk about our sponsor, Patriot Gold Group. Did you see the movie The Big Short? Christian Bale played a man named Dr. Michael Burry. Michael Burry runs the Zion Fund, and he is a guy that people follow religiously with his stock picks. Well, guess what? What is his biggest position today? It’s gold, and the story I’ll have below for you. But you’ve got to look at protecting yourself and getting yourself an IRA or 401k that’s backed by physical metals.

The best place to do that is Patriot Gold Group. Number one rated, number one rated, their phone number 888-330-1431. Contact them today. Use the link below. But think about this. When people like Michael Burry say they’re getting out of stocks, they’re getting into gold, you need to protect yourself and do just that. Contact Patriot Gold today, 888-330-1431. Now, here comes the important part of the video. I want you to think about this, okay, because this is very serious. You know, the Fed, first of all, said that they can’t get control of inflation, and remember, they want to get it to 2%.

That’s the big magical number. If we could get inflation at 2%, everything would be great. And everybody wants them to lower interest rates. Lower interest rates so we can sell houses, buy cars, and just have more money in the economy. Jerome Powell steps forward and says, hold off. It’s going to take a little bit to do this. Expert after expert after expert has said that they’re not going to lower interest rates. There is a good possibility that they may not lower interest rates. And if you saw Bob Kudler’s video from the other day, Bob talked about something that was very serious, and that is if they lower interest rates, all bets are off.

You’re going to see the stock market crash and completely tank if that happens. Now, I want to read something to you that happened to me at the, you know, somebody sent me from a bank, and I walked into Bank of America, which I don’t bank at, and said, I want to find out if this is accurate enough. And they said yes. And that is when you walk into the bank and you make a transaction, this pops up on the screen now. I’m going to cover this. This is attention. All check transactions. All checks in your deposit are subject to review and hold at any time.

Information may be printed on the back of the check during processing. If the transaction is canceled for any reason, it may impact your ability to cash or deposit the check elsewhere and require you to obtain a new check. Please understand that the processing house that handles check transactions, they have said, could be insolvent right now. So where’s our money at right now, guys? Who is handling our check transactions right now? And are the banks going to go down? Are they going to have hundreds of banks go down? This is very concerning because think about this.

Okay. Thank you. So many people are upset right now because what you’re seeing is you’re seeing the fact that banks are basically insolvent. The company that handles the transactions of getting money from A to B could be completely broken and done. But how about this? You deposit a check from your work or from a client and then they tell you that you’ve got to, you know, there’s been a hold put on the check. And they’re telling people that sometimes two and three days later, I thought it was a joke. I thought it was just for people that were having financial difficulties.

No, this is for everybody right now. Okay. So think about this. You could deposit a check and they could tell you that the check is no good. And if you freeze it or if you say, hey, I need the funds because they could take the money out of your account or freeze it. You put a check in for five thousand dollars and they tell you that the check is no good. Be ready. Be ready for the day that the banks closed down because that’s what this is. Why would Bank of America tell people this? This is the warning of all warnings right now.

Okay. So prepare yourself. Prepare yourself for the end of our monetary system and the banks closing down. So let me know, guys, let me know what you think about this because this is the worst thing I’ve ever seen right now. The steam kicks in for a few seconds. Lots of moisture in the air. Really, really cool. Guys, it is so tragic to see all these businesses go out of business right now, from clothing retailers to restaurants. But I want you to think about this. El Pollo Loco is the Mexican style chicken and they used to have a five dollar combo.

Okay. And the five dollar combo was very reasonable because you get the combo, you get, you know, chips and you get a drink with it. Well, then it went up, went to five ninety nine. Look at these prices now. This is through the roof right now. And the price has gone up dramatically. And who can afford this? Seven fifty eight dollars. It’s just way too much. Thank you. And so we’re seeing this thing absolutely escalate to where you have a combo that’s now over eight dollars and it’s nothing big. You know, it’s a burrito and it’s over eight dollars right now.

So what’s next? Well, what’s next is red lobster. Think about this red lobster. You know, hey, it looks like we’re going to lay some people off and close some stores. No, they hired a liquidation company, guys. They’re done. They are finished. And what they did was that they thought they were being sneaky and they thought they were being smart, was they went out and hired a liquidation company to get rid of all their equipment and all their stores. And man, oh, man, I’m telling you, if you ever want to start a restaurant, you don’t buy anything new.

You go to the restaurant wholesalers. I have known people that have made a fortune selling this stuff because, you know, tables, chairs, mixers, ovens, pizza ovens, everything has to be purchased. And then they buy it from these. They buy it from places like Red Lobster for nothing and then go out and sell it to you, you know, for a small profit. That’s what you’re seeing over and over again right now. This is going to happen. You know, you’re going to see it happen repeatedly. But hundreds of Red Lobsters will be done. The worst thing are the people that work there that are going to lose their jobs.

And again, you know, you’ve got all these, you know, fish wholesalers, which I just read the stories because it talks about where are they going to get fish from? Where do you buy frozen fish from? Because it’s not, you know, to act like they’re buying the freshest seafood is insane because I’ve joked about it. And you guys know this place. I am telling you from having family members in the restaurant business and they explained it to me where this stuff is put in dishes and microwaved before it’s brought to your table. How about this? I called a bunch of friends.

Hey, I’m thinking about doing a video on Red Lobster. Oh, God, I don’t want a Red Lobster, Tim. Really? Nah, I’m going to pass, Dan. Doesn’t interest me. Not interested in eating a Red Lobster. OK, nobody would take me up on that. So maybe we should do a field trip and I should open it up to the audience and we should do a Red Lobster field trip locally. But let me know, guys. Let me know. One thing that we’re seeing is investment banks that are saying, hey, we’re not going to shy away from commercial real estate.

Well, don’t get confused about this, guys. Brookfield, Nuveen, Lasalle, PGIM, these companies that are doing this. And there’s a great article below about this. These companies are not doing it because they’re going to lend people at the top of the market. They’re going to do this because they’re starting to buy things for a song. They’re going to lend people money to buy a hotel for 20 cents in the dollar. They’re going to buy office space and lend money for people that are absolutely have a plan for the location and are going to steal the property. You’re going to see this happen.

So, hey, these white nights are coming in to save the day and lend people money. No, banks don’t do the investment banks. They’re not in the business of losing money. They’re in the business of helping people out that they’re going to make money with. They don’t care about us. Don’t get confused about this. Uber sees a real problem when it comes to the future of ride sharing right now. And what they want to do is they want to hook up people with buses and they want to have a deal with Costco right now where they’re going to go out and share ride sharing locations with Costco.

So, again, I don’t know about you. I hate riding the bus, but think about this. You’re going to be able to book three places on the bus and use an Uber experience for that. Who wants that? OK, well, great. So I’m going to save money and I’m going to use Uber for this. So, OK, everything’s expensive right now. California, with our deficit, our gas tax, which everybody has to drive, nobody takes mass transit here. When they build mass transit, it sits there vacant. It’s a place to go get robbed at. You want to take the bus.

You want to take the train. You’re taking your life in your own hands. Read the news stories, OK, that are out there. I don’t want to bore you with that stuff because there’s too many of them. But they’re going to raise our gas tax 50 cents a gallon. OK, 50 cents. Hello. So we have the highest gas in the country. And guess what direction it’s going right now? Higher. It’s going to be more expensive than ever right now. So 2025, they think it could go up another 26 cents. So we could go 75 cents a gallon over the course of the next year and a half.

And again, with budget deficits and things like that, it’s going to make it so that it’s crazy. A man write me from Colorado today and said, Dan, our gas is three bucks a gallon here. Thank God for that. Lucky you. So let me know what you guys think about this. And how do you feel about this stuff, guys? I mean, do you think that the commercial office space is in trouble because everybody I met with people I met with last night, we’re talking about how destroyed San Francisco was and how they don’t want to hire anybody to work in the office.

They want to see how they can pay people for remote jobs and pay them less. They don’t want to pay you a full wage. They want to pay you less not to see your face every day. So let me know. Let me know. I’m going to finish this video with these last couple of stories. And Dr. Marvin sent this first one and I love this. And basically the title of the story is America’s running out of money. You guys, we cannot run a business. You cannot run your household. You cannot run a city, county, municipality, anything or a country or the United States of America.

If you are spending 68 cents for every dollar that’s taken in for social programs and for interest every hundred days, our national debt grows by a trillion dollars and we’re paying interest on this. We spend more money on interest than we do defending the country. I’m not talking about defending the country in that 68 cents. It is absolutely crazy right now what we’re spending this money on. And I’m telling you guys, when you see this and read this article, this will concern you. Now, I don’t know if you guys noticed, Netflix has done some things lately where they’re trying to get into more live events.

They did a golf tournament last year during the Formula One race. They just had the Tom Brady roast that was live and which is funny. It was good. You’re going to see Mike Tyson commit homicide when he beats up and kills Jake Paul in July. That will happen and it will be live on Netflix. It’ll be great to see that 57-year-old man do that. But what did Netflix just do? They just bought two Sunday or two Christmas Day, excuse me, not Sunday, Christmas Day. Christmas falls on a Wednesday this year. They bought two NFL games for $150 million to show on Netflix.

So if you guys want to see football on Sunday and you’re a football fan, you’re going to have to go to Netflix to get this. Is that crazy? But, you know, read the article below out of the Times and it was talking about how, you know, football this year, it’s very weird because, you know, it’s awkward for the NFL because Christmas falls on a Wednesday this year. And what do you do? Why not sell off those games? Whatever, guys, whatever. So they’re going to sell this. Will you watch that? Do you have a Netflix account? Two hundred million people have Netflix accounts now.

And again, if you want to see Mike Tyson just destroy Jake Paul, that would be worth getting a Netflix account for. OK, maybe we should get a sponsorship deal hooked up with them. Please do not forget to hit the like button. Please don’t forget to subscribe to the channel. And if you want to get a hold of me, hello at I allegedly dot com. Onward and upward, guys. I appreciate all of you. And let me know what you guys want to see next. OK. [tr:trw].

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