Hey, it’s Dan. Welcome back. You’re watching IAllegedly. And I’ve got a good one for you today because experts are talking about something that is completely wild where we are about to enter something that is much worse than a recession. Dangerously close. Could happen anytime. We’ll see. I’m going to cover a lot today. Hit the like button, subscribe to the channel, but let’s get right into it. You know Flag Star Bank. Let’s start with banking. Flag Star Bank just announced they’re closing 60 branches across the country. 14 in New York alone. You know guys, here’s the thing.

The bank branch that as we know it is gone. Then you can sit there and say, oh I do everything online banking. If you don’t have a relationship with your bank, if you cannot walk into the bank and they know your face, you’ve got a problem. I don’t care if you have a thousand dollars in your bank. There’s going to be something that’s going to happen in your life where you’re going to need help from the bank and whether it be cashiers checks, whether it be getting fees eliminated, something. And when you have that relationship, it’s much easier to have that dealt with over being some stranger in a bank.

We just found out that both Bank of America and JP Morgan, their CEOs, Jamie Dimon and Brian Moynihan, just sold a tremendous amount of stock in the last 45 days. So between the two of them, they just unloaded 321 million dollars worth of stock. So with that being said, you know, confidence in the bank, lack of confidence, what do you think? I think it’s just a sign of the times that, you know, Jamie Dimon, man of the people, is unloading his shares. Brian Moynihan, who preaches, you know, fiscal responsibility, you know, has got 166 million dollars more, you know, in his pocket.

So let me know what you think about that. Next thing, UPS. UPS is laying off 20,000 employees from drivers to people inside the office to logistics to everything. You have to look at logistics as a whole right now, guys, because people that ship things from here to here, okay, those are the people that are not working right now. FedEx is down. If you talk about, you know, the United States Postal Service, they’re down. UPS is down. Amazon is down. Now you can sit there and there’s tariffs, Dan. It’s all the tariffs fault.

Insane. Absolutely insane. If you want to sit there and blame that. Business was tight before this happened, and now, you know, you’re starting to see it come out. There was a restaurant that had been in business in the city of Long Beach, California. I’ll drive up there, and this is something you’re going to hear more and more between now and 4th of July. So on Pine Avenue, it was, I believe it was called George’s, and it’s a Greek restaurant. Had sold in the last couple years. New company that took it over.

Didn’t pay their rent since last summer, guys. Almost nine months. So they got evicted. Bye. Place is done. Finished. You’re going to see more of your favorite restaurants. Just get, you’re going to walk up one day, Alex, go eat there Thursday, and you’re not going to be able to eat there. That’s going to be done. So with all the massive layoffs that we’re experiencing right now, it does not matter what industry you’re in. Whether it’s hospitality, tech, it just does not make a bit of difference right now because everything is affected right now.

And if you’re in the shipping area, you’re done. You guys just, it’s an industry that’s completely suffering right now. So next thing is housing. Think about this. There are 233 cities in the United States right now that the starter home, starter home. First, you know, little tiny house, small backyard. Get yourself in the door. There’s over a million dollars. One million dollars. Crazy, guys. It’s absolutely nuts. Look at those house payments. Look at those house payments. I’m telling you, people don’t sit there. They don’t put, you know, you’re not putting, these people are not walking up and going, you know, honey, let’s, let’s put half a million dollars down.

Let’s just go put $500,000 down and finance 500 grand. No, these are putting 3% down. I have a buddy that’s looking at a place right now for $800,000. Oh my god, they got the 100% financing loan right now. 800 grand. 800 grand, guys. And not having a down payment. Isn’t that crazy? What if the market hiccups at all? Oh, I’m gonna buy it right. Don’t have to worry about it. What if, guys? What if? So, the thing about this is that you’re seeing real estate set on the market longer and longer and longer right now.

And the big thing in, you know, resort communities like Southern California here, you can go to an area and not have an association. But then you can go to that community right there, celebrity filled, and you’ve got a guard gate and you can’t drive in there. I can’t film there, you know, because I don’t know anybody that lives in there. So, but they pay about $1,500 to $1,800 a month, you know, for the smallest unit to have the luxury of living inside there. That’s a lot of money every month to have the guard gate, okay? Now, people are so desperate to sell their houses in these resort areas that they are going to creative things that they can pay for right now.

Well, let’s pay your association for a year. Put it right in the escrow. I’m gonna guarantee it, get paid one year in advance. People are like, oh, that’s pretty good. People will be giving cars again, golf carts, watches, jewelry, vacations, trips. You know what? The stress of buying a property, wouldn’t you like to go to my condo in Barbados too and go stay there? You know what I mean? They’re offering shenanigans like this just to close real estate right now. Now, this is an area, Newport Dunes. It’s a vacation area. They have cottages.

That’s Pacific Coast Highway where the cars are going up the hill right there. Just a nice, simple summer place. They’ve got a summer camp that’s here. It’s, you know, it’s funny. It’s, you know, I forget as the weather is nice here most of the time that it’s about to have this happen. You know, you’re about to start seeing kids here throughout the day. Chinese factories are stopping production because people are not buying anything and they’re going to look for alternative places to sell their goods to. Okay, good luck with that.

Good luck with that. If the Americans won’t buy it, we’ll go elsewhere. Do it. Who’s stopping? Who is stopping you in the first place, dumbass? Okay. You know, I always love this. You know, if you don’t do it, I’ll sell it to somebody else. Go. Good luck. Good luck. You know, it’s wild how you’re starting to see all these different places that have, you’re starting to see all these places that are affected by tariffs and then the people that are making deals. You know, you’re going to see a lot of people come together on this quickly, very, very quickly, but I’m not buying, you know, I’m buying that these factories are shut down because they have nothing to do and no place to go.

You know, here’s something that’s terrible. Here in California, they have what they call the fair plan. If you live in an area that is uninsurable, mountains, heavy terrain, you live in a cliff, hey, we’re not going to insure you, so you have to go to the California fair plan. Well, the problem with it is the fair plan is now being investigated because more and more people were pushed into the fair plan and we’re never supposed to be there. Why are you, why is your house considered high risk for anything? Well, they want more money.

They want the premium from you, but I’m telling you this right now, guys, if you do have a fire, if you have an earthquake, you have somebody drive their car through the front of your house, people have more and more difficulty getting paid from these insurance companies. And this is just no different right now. It’s awful that people are experiencing this. My uncle who does not live, I mean, I was blown, hey, who’s your insurance carrier? Let me talk to them. Absolutely blown away how he got stuck in the fair plan.

So it’s happening to a lot more people than you think. The, you know, here’s one thing, article recession fashion is on the way. These are muted colors. These are what you’ve done. I don’t know. I don’t call it the prison look, but it’s just a depression garb. You know, it’s laid back styles. It’s no flair, no fashion sense. I mean, it’s like, what are you kidding? Okay. I mean, who writes this stuff? But hey, the recession fashion. Are you kidding me? It’s insane. Okay. So what do you guys want to know what I’m wearing today? This is the Dan outfit.

Oh my God. Okay. You know, Albertson supermarket chain, they’re the ones that were going to merge with Kroger and it fell through. Albertson’s told all their suppliers, hey, you have anything that resembles a tariff charge on anything that we buy from you. We’re never going to do business with you. And we will never pay it. Print it up all you want. Put anything you want on a piece of paper other than our agreed to prices. We’re not paying to dime more for anything. Bravo to that. I’m telling you guys, I still, no one sent me a recession or tariff, you know, charge on a restaurant yet.

I still want to see that because I’m hearing that that restaurants are trying to gouge people hair salons, nail salons, massage, you know, you know, spas, things like that are doing that. I want to tell you guys something that’s absolutely wild about living here in Southern California. And you know, Hollywood is dead. Entertainment is dead. You have alternative media that’s that’s flourishing. Guys like me, Michelle Pfeiffer steps forward and says it is terrible that no movies are filmed here in Los Angeles area anymore. Of the last 40 pictures that I did, she did three in Southern California.

I want you to think about this next part of what I’m telling you. It costs so much money to have things shot here in California that they can’t afford to do it. All the unions, all the extra expense, high rates, there’s no tax incentives. And Michelle Pfeiffer is calling for tax incentives from, you know, the governor and different people. I’m on that that cool bridge right now. Now, here’s the thing. There is a game show called The Floor that is hosted by Rob Lowe. I’m not making this up. The game show is filmed in Ireland.

Okay, they fly 100 contestants, put them up in a hotel room and have them stay in Ireland. It is cheaper to film it there than it is to have them walk across the lot at Fox Studios in Los Angeles and film there. You hear what I said? They flew a hundred people to Ireland. And think about this. You’re gonna fly down to someplace. You’re gonna feed me three times a day. You’re gonna put me up in a hotel room. You have an airfare back and forth. Think about that. Isn’t that crazy? That’s what they’re doing right now.

To get people on that game show, 100 contestants go there. Read the story below. It’s crazy, crazy, crazy that it’s cheaper to do that than it is to shoot a production in Los Angeles. When I was in Hollywood and when I was trying to write screenplays and I worked for an entertainment company, we were looking at doing reality TV and different things, you can go to different states where they will give you percentages of your production. As high as 35, 40% of the production value to shoot it in Georgia, Louisiana, different places like that.

Wow, you know, downtown, this one downtown city looks a lot like Los Angeles. You could shoot it here. You know what I’m saying? They do that to save money to get the productions, you know, in different places. So, absolutely wild. A federal judge just dropped the law stating, you know, they wanted to have a $10 cap on late fees with all the financing talk and with everything going wrong with people that want to finance, you know, breakfast, lunch, dinner, their groceries, and people writing me about their dogs, their pets. Buy now, pay later for pet food.

Guys, come on, man. Come on. Okay. Come on. It’s just nuts. So, what else? Oh, there was an AI radio generated host in Australia. Was on for four months. Does a three-hour show every day. Nobody had any idea calling and talking to the guy, and had no idea it was an AI bot that they were talking to. That was talking, oh, isn’t this great? It’s a go-go. You know, but that’s the future, guys. I’m telling you, you can call businesses and order things, and you’d be surprised how many AI bots that you’re dealing with.

And two things. I want to end it with this, and that is Walmart is the logistical king. That’s what they want to be. They want to be what Amazon is not for you. I’m like, what’s that? They want to make it so that regardless of where you’re at, they can deliver your order within four hours to your house. Within, you know, 98% of the entire country in the United States, Walmart says it can deliver your order within four hours right now. I don’t know about you guys, but I like picking out my own produce.

I like going and picking a shirt. I like to make sure it fits. Stuff like that. So if you’re going to Walmart, a pair of shoes, man. Don’t you want to do that? I mean, some people just like it. Some people like it delivered. And then the final thing is Martinelli’s apple juice. That sweet, sweet goodness. That 170,000 bottles recalled over toxic fungi. Those are those cute little bottles, ones that your mom wouldn’t buy because they were too expensive. Little tiny, little apple-shaped bottles. Anyways, they make Martinelli’s sparkling cider too at the holidays that everybody drinks and stuff like that.

But 170,000 of those little bottles were recalled because of a fungi. Doesn’t that sound… Yeah, doesn’t sound tasty. Anyways, guys, let’s continue it. Get it? Protect yourself. Have a plan. If you have a plan, you’ll be ready. Good luck. Onward and upward, guys. We’ll see you very soon. [tr:trw].

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