Hey it’s Dan, welcome back to Watch and I Allegedly. And I’ve got a good one for you today because every year this bank issues crazy predictions and this year is no different. So before I get into it please hit the like button, subscribe to the channel, and today we have a sponsor Patriot Gold. I am in the Dominican we’re having a drill on the boat. They keep having these warnings and these different abandon ship it’s kind of funny but nothing to worry about just you’re gonna get that in the back.

So Saxo Bank has every year issued these different warnings on the economy and a couple crazy ones that came through in 2008 they predicted that the S&P 500 would lose 25% of its value. They predicted the housing prices. They made some bogus predictions in the past so they said that Apple was going to buy Tesla for $525 a share in 2017 and that never happened. But this year first prediction that Donald Trump and Elon Musk are going to destroy the dollar. They want to bring back manufacturing here in the United States and they’re going to make it so that the dollar is going to be completely decimated.

I don’t know about that I think that’s kind of wild to think about. So all his aggressive programs are going to destroy the dollar. Now there’s something funny about Elon Musk. It’s not funny but we’ve talked about this over the course of the last year and that is Elon has a pay package that was approved. He works for free for Tesla but if he had certain milestones he was entitled to a bonus of 56 billion dollars. One of the shareholders sued and got it you know put off. He had a vote over the summer and says hey have I done right by you guys by you shareholders am I entitled to the 56 billion dollars? They said yes.

I believe that was in June of this year and Judge Kathleen McCormick who’s overseeing the case in the lawsuit says it’s excessive it’s too much money to give somebody for what you’ve done. So 101 page ruling all the stories are below on this but again guys if you hate Elon you hate Elon. But the fact that this guy you know they agreed to pay him this is interesting. There’s a fire in the distance out there. But anyways we’re not there. The next thing is they think Nvidia stock is going to basically go up four times and that the company is going to be worth twice what Apple is.

The AI rush is definitely huge guys but do you think that Nvidia is going to be worth that much? I don’t yeah I think these are kind of crazy predictions but Berkshire Hathaway stock jumps after a catastrophic storm. In other words there’s going to be some other storm that Berkshire Hathaway is going to have money invested in and they’re going to make a ton of money. So all you have to do is look at what Berkshire Hathaway stocks are invested in whether it’s the insurance the banking or whatever if you believe this.

So it’ll be interesting to see you know if they do this and if that is you know if that’s going to take off. But again kind of a weak gear for this stuff. What do you think about this? Do you follow these predictions? Because I love to look at predictions like here’s what’s going to happen and then you go back after the fact okay. It’s like someone’s not going to get pardoned and then all of a sudden they get pardoned. You know what I mean? That that I always find fascinating.

Now here’s something that’s wild with these predictions and a couple of them I don’t think make any sense. They’re talking about China’s economy completely collapsing and that China’s going to issue new stimulus programs for the Chinese citizen and they’re going to give out 50 trillion dollars. Okay okay 50 trillion dollars. So you know what’s funny is you can you just can’t sit there and say they’re gonna have problems in the economy which they are and they’re gonna give out you know 25 billion 50 trillion okay 50 trillion dollars. The next one is one I have a problem with also and that is they’re going to invent this year the first bioprinted heart.

In other words you’re going to have something that’s electronically printed you know and it’s going to be using biometrics to print a human heart and human organs. So you’re going to be basically have interchangeable parts inside our bodies which makes no sense. I mean it’s insane to think about. Now I’ve seen you know 3d printing of a lot of things but to sit there and have body parts be 3d printed I don’t think it’s going to happen. I don’t see it anytime soon. When I was in the medical space I had a lot of cool things that were presented where people would do devices equipment and I’ll tell you something Jay Leno owns all those cars.

How does Jay Leno find parts for a 1919 fire engine? Well, he doesn’t. He finds the manual. Back in the day, manuals included all the parts, so he could print every single part for the fire engine. He uses a metal 3D printer to make any part for any car, which is how he can afford to maintain these vehicles. That’s pretty brilliant when you think about it. You’re going to see more innovations like that in the future.

Now, my favorite: the prediction that electrification will end OPEC, and OPEC will shut down by 2025 because everyone will be driving EVs. Would Tesla like that? Probably. Would Rivian and others like that? Sure. But that’s not going to happen. The electric car industry is still 30 years away, at least, from taking over—if it ever does. People are already jumping ship from the idea.

I get to film this morning before heading to town. But these predictions, they’re just to stir conversation. They’re great for that, but they’re also crazy. Here’s a fun one: an AI-driven tax. Do you think we’ll have a tax on AI programs? I don’t know. They want taxes for everything—breathing, walking, going outside—so maybe they’ll try to tax AI too. It will be interesting to see.

The Dominican Republic is fascinating. For such a small island, the athletes that come out of there are amazing. Tourism and sports seem to dominate the economy. Let’s talk about our sponsor, Patriot Gold Group. With 2025 fast approaching, you need to focus on getting your retirement in order, regardless of your age. Adding precious metals to your portfolio is a smart move, and the best place to do that is Patriot Gold Group. They’ve been the number-one rated company by Consumer Affairs for eight years in a row. Call them today at 888-330-1431 for a free investor guide. They sell all types of precious metals, including IRAs and 401ks backed by metals. Contact them today through the link below or by calling 888-330-1431.

One thing you have to contend with on a cruise ship is all the music, which makes filming tricky. For the private channel, I Allegedly Live or I Allegedly TV, it doesn’t matter as much. But I found a room called “The Scene,” which is serene and completely quiet. It’s a great spot for meetings or just relaxing.

Now for some news: Cargill, the largest private employer in the United States, is laying off 5% of its staff—8,000 people—by the first quarter of 2025. What do they know? Are people not going to buy food? Of course they will, but companies aren’t making money like they used to. Frozen food, food preparation—it’s all struggling. Ingram Micro in Irvine, California, is laying off 400 people. The computer industry seems dead too.

I spoke to a woman concerned about BRICS and China’s stimulus package. If it’s true that China is rolling out a massive package, it’s likely due to their over-construction in the last 15 years. Imagine 40- or 50-story buildings with nobody living in them—just empty skyscrapers. These properties are maintained but remain unsold because people can’t afford them or don’t want to live 20 miles from anyone else. It’s wild.

De Beers, the diamond mining company, has lowered diamond prices by 15%, the largest drop in decades. Why? Fewer people are getting engaged, and high-end items like diamond earrings, rings, and watches aren’t selling. Even on this cruise ship, which has a shopping mall with about 15 high-end stores, nobody is buying anything. The store that’s doing well sells everything for $10—wraps, hats, you name it. That’s what people are gravitating toward: discounts.

Speaking of discounts, Cyber Monday was a bust. While overall online sales for the weekend were solid, Cyber Monday, this made-up holiday, flopped compared to last year. It started in 2005 as an Amazon invention, a day for cyber shopping. Back then, sales reached $484 million. By 2023, they hit $9.4 billion. But the momentum hasn’t continued. There’s no COVID boost anymore, and people are strapped for cash.

This cruise ship has multiple pools and decks, which I’ll share more about later. But for now, let’s wrap up with a few things. Credit card companies were told by the Consumer Financial Protection Bureau in May not to charge certain fees or overcharge for late payments. In response, banks just raised interest rates to record levels. They don’t care about us.

I spoke to an executive from Lane Bryant, the plus-size clothing retailer, who said their stores in malls don’t make much money. Their profits come from credit cards—people buying clothes and dresses on credit and taking forever to pay them off. That’s where their real money is made.

Lastly, Fannie Mae and Freddie Mac raised loan limits for 2025, allowing borrowers to take loans of up to $808,000 with minimal down payments, backed by the government. It’s hard to imagine owing someone $808,000. I hear people say, “My truck costs $128,000.” Why? Go buy a used car or truck. There’s no nobility in poverty, but there’s also no nobility in owing ridiculous amounts of money.

Please hit the like button, subscribe to the channel, and email me at hello@whatiallegedly.com if you have questions. I needed this break, and I feel so much better. I hope you’re having a warm winter wherever you are. I love doing this, and I’ll see you very soon.

See more of I Allegedly on their Public Channel and the MPN I Allegedly channel.