➡ Despite reports of low unemployment rates, one in four people are functionally unemployed, meaning they don’t have a full-time job. This issue is more severe among blacks, Hispanics, and women. Many people are struggling to make ends meet and are resorting to side jobs or multiple part-time jobs. The situation is not being adequately addressed, and it’s causing significant economic changes and hardships.
➡ The text discusses various business issues, including potential lawsuits for Elon Musk and battery companies, Volvo cutting jobs due to low sales, changes in tax structures affecting sports franchise ownership, Hardee’s considering closing stores early due to lack of afternoon business, and issues with solar panel investments. It also mentions a man posing as a mechanic to scam people, and the cancellation of Spirit Halloween’s pre-opening party for the first time in the company’s history.
➡ This year, due to tariffs and shipping issues, Halloween costumes might not be available. Instead, people are encouraged to reuse last year’s costumes or make their own to save money. The text also discusses the current job market, highlighting the struggles of a man with extensive experience who has applied for 3,000 jobs with little success, suggesting that job seekers need to be proactive and treat job hunting as a full-time job.

Hey, it’s Dan. Welcome back. You’re watching Iallegedly. And I’ve got a good one for you today because basically one in four people are unemployed right now. Staggering statistics I have to share with you. I’ve got all the business news you can use today. Please hit the like button. Please subscribe to the channel. Don’t forget to join our email list, guys. The link is below in the video description. Join that today. But I want to cover something that was covered by a lot of different news sources but was kind of swept under the rug. We were recently told that we had great unemployment numbers, that unemployment had dropped to 4.2%, and that things have never been better.

There was 4.3% prior month. It dropped one-tenth of a percent. Isn’t that great? Well, here’s the thing, guys. Do you have a full-time job? Are you working as much as you want to work? Get overtime. Can you go out and live on your wage right now? Most people cannot. In fact, one in four people are what they call functionally unemployed. What does that mean? They do not have a full-time job. These numbers are staggering. Now, for blacks, Hispanics, and women, it’s worse. Hispanics, it went up to 28.2% of these people are functionally unemployed. They take work when they can get them.

For blacks, in the last month, it went up another tenth of a percent, and it was 26.3%. Now, for white people, it dropped one-tenth of a percent to 23.1%, which gives us that 24% number. Which is wild, guys. It’s over 24%. But think about this. Do you make enough to pay your bills? No. Do you make enough as a full-time wage? No. These people are not. And read these stories. There’s one from CBS News Below, and there’s one from the Ludwig Institute of Shared Prosperity, which is basically a data company, and they’re talking about how bad this is.

And the thing about this is that nobody wants to talk about this. Nobody wants to talk about your job giving you less hours. Now, I have very loyal subscribers, and I have a few dozen that write me all the time, and they tell me things like, hey, my boss is sending home the sales staff at 2 o’clock today, and they’re not getting paid for the rest of the day. Guys, this is what we’re talking about. Things like that. Little things that add up that are not full-time. Think about this. They consider a full-time wage 32 hours a week.

Can you live on 32 hours a week? My kid can’t do that. My kid, for example… Dad, I wonder if I could pick up a third serving job at one of the high-end places so I could make money and work two shifts a day, which is 16 hours a day at a restaurant. That’s what he wants to do. But when you’re in your 20s and you’re trying to act and do your nonsense in commercials and stuff like that, that’s what you have to do. But I’d rather have him trying to make money than going to audition after audition.

Waste his time. So this is happening with everybody right now, guys. There is a huge problem with the functionally unemployed, and nobody wants to talk about that. You know if you have this or not. COVID did a real disservice by having people do the remote work. Now, there’s people that will never go back to a regular job, but there’s also people that will never get full-time employment again from these companies. Elon Musk is saying that he is at Tesla and SpaceX and X full-time now. Not anything to do with the government, and he’s got real problems because, for example, in the EU, Tesla sales dropped 50% last month.

Now, I attribute that to two things, the political surroundings and also the fact that people don’t have the money to buy their car. Now, a buddy of mine who is a New York Yankees fan, times 10, grew up in New York and loves them. With my angel tickets, hey, man, you want to go to the Yankee game? I know, let’s make sure we connect. And I have not been with Mike in a while, but he’s a great guy, and he’s really smart. He’s been in the military, and he’s just a really, really cool guy to be around.

But the thing about this is talking about how he had to go out and he had to start a business to make money on the side. And he teamed up with somebody that was very smart. They have a home inspection company that they’re doing differently than anybody else. And now they’re in their second year of doing this, and they’re making money at it, but he is doing something really different with what they’re doing, with the software and everything. It’s very exciting. But this guy had to go out and get another job because he wasn’t employed full-time, if that makes any sense.

So everybody has to. It’s not just you. Everybody is suffering through this, and some people can get it, you know, and understand make it work, and some people cannot. But man, oh man, I’m telling you, you’re going to see more changes in the economy right now than you’ve ever seen before. BJ’s Wholesale warns that there’s a harsh new reality that’s happening with all of their club members. Now BJ’s Wholesale, they went out and they had to raise the rates of their, you know, their almost 2 million club members to get, you know, they had to charge more money, which they got a lot of heat for.

But people are not spending the money like they used to. Unessentials, they’re not buying. When they buy the essentials, they buy the bare minimum of what they can buy. The less expensive products are being sold. This is what we’ve been told over and over and over again. Japan, we talked about them last week, how they’re talking about, you know, their bond problem. Well, Japan is thinking about getting rid of 30 and 40 year bonds. Well, that says a lot of confidence to me about where the country’s at. No, it’ll be awful. I had a subscriber, Brian, write me a very thoughtful, detailed letter, lots of information in it.

And he thought he was giving me a rant, but he really made a lot of sense. And I wrote him back and told him, you’re not the person I’m talking to. I believe in getting rid of everything right now. Everything that you don’t need right now, unload it, sell the extra cars, sell all your tools, sell your golf club, sell all that stuff. And Brian’s like, hey, wait a second, Dan, if I have tools and one tool breaks down, I have another one. Well, you can look at it that way, Brian, but Brian’s not in debt.

Brian’s not a credit card hound that owes 80 grand on his credit cards. I’m talking to those people. I’m talking to the people that could not save money to save a life. Ooh, there’s a sale at pennies. Let’s go. Those people that would put it on their new credit card over and over and over again. Dan, you can’t eat gold. You can’t eat silver. No, but here’s the thing. As I stand in this park in Orange, California, because I looked at it within a mile, there are five coin shops that I could walk an ounce of gold in and get cash for it.

Call them. Call two of them right now. Hey, if I bring gold in, how come you’re coming in? No, if I bring it in, you give me cash. You have cash on hand for an ounce of gold. Yes. You can get cash real quick, guys. And, Brian, you can get cash real quick. Now, what if cash is no good? Okay, there’s a different problem in the world. Your tools aren’t going to save you if the end of the world happens and gold is not good and money is not good. Think about that. You better have other stuff to protect you and protect your family.

You know, like I said, Tesla sales, you know, plunged, you know, 49% in the UK. Here’s one that is wild, you know. Four VW executives. Think about this. You barely heard about this. It took me to go to TechCrunch. Remember when they lied about their mileage numbers and they faked all that? Well, yeah, four executives are finally going to jail for that from VW. Great. So, Volkswagen is going to finally have this executive payoff. Now, my friend Mike bought a Tesla. The cool guy looks great in it. First time I ever got to drive in a Tesla and he drove me super fast and everything was great and the car can park itself.

You can do what you call summons where you can get out of that grocery store and the car will drive up to you. I mean, he bought the big battery. He bought everything. He still spends his time half the time here and half the time in Las Vegas and cannot drive straight to Las Vegas on one charge. And it says 300 miles, but it’s a lie. I have to stop every time. You get about 180 from him. So, there’s going to be another lawsuit for Elon and all these battery companies that are going to face in some day.

But here’s the thing. Your car mileage, we buy a gasoline-powered car. Let’s say that they lied to you and said it’s got 35 miles of the gallon and you get 30 from it. It’s not going to drop to 25. That battery in that car is going to have to be replaced and that Tesla is going to go out of style some day soon. So, again, was it a cool little car? Yes. And again, the golf cart. Okay. It was a nice electric golf cart that did a bunch of funky stuff. Volvo is going to slash 3,000 jobs with executives because nobody’s buying Volvo cars.

Okay. Guys, functionally unemployed. Yeah, there they are. One in four. There they are. Was Volvo not a good car company anymore? You know they are. They’re a great good car company. They’re just expensive. It’s a high-end car, you know. Hey, after I left homelessness, I bought a Volvo. No, you didn’t. You know, you got the Conker for three grand. Okay. So, and they’re starting with white-collar jobs, you know. One thing that’s funny is I had lunch with my agent recently and he talked to me about, and this guy’s loaded, okay. So, he’s very successful and he was talking about investing in sports franchises.

And he says, wow, they’re going to change the tax structure on owning a team. You always joke about owning the Angels. I don’t know if you want to do it today. Guys, if I have billions of dollars, I’ll do whatever the hell I want. And if I had a tax problem for owning a sports franchise, it’s crazy. How about this? There’s a basketball team right now that you can buy one and a half percent of. It’s $100 million. There is a baseball team that you can buy one and a half percent of and that’s $25 million for that.

So, again, if that’s your thing, that’s your thing. But the idea with this is you get vetted with the league and that way if the entire team becomes available or you want to buy another team, Dan’s already a good guy. So, very, very fascinating, guys, stuff. But, again, they changed the tax loopholes and all that stuff so it’s very undesirable right now. So, Hardee’s wants to shut down 76 franchises for Carl’s Jr. Hardee’s owns Carl’s Jr. Out here on the west coast they’re known as Carl’s Jr. Back east they’re Hardee’s. Well, one franchisee that has 76 stores, he’s like, listen, we do zero business after 2 o’clock in the afternoon.

We want to close our restaurants, fast food places at 2 p.m. every day. And the owner says, you got to stay at least till 10 o’clock at night. No, no, no, no, no, no. You’re open till 10 p.m. every night or you’re not going to be a franchisee. We’re not making any money. We make zero money. All they do is pay people and pay expenses and pay for electricity. I’d rather close the place down at 2 o’clock and I don’t know if you can stop that. Well, they can stop that in their franchise agreement.

They have certain requirements. Now they’re issuing, you must stay open during these prime hours, blah, blah, blah. But think about this. You guys have been to different places where they’re not open at certain times and you go to an industrial park and they’re not open late at night. It happens. So interesting, you know, April was another bad month or excuse me. Yeah, April was another bad month for real estate transactions being cancelled with 56,000 transactions. And so, again, that is a real problem that’s only going to get exacerbated where people get cold feet.

And Redfin did a great study about this where, listen, stick around. Get used to 7% interest rates. Get used to it. This is Redfin. Redfin also said that your house is going to go down in value by at least 1%. What if it goes down 10%, Redfin? We don’t know. But at least 1% this year you’re going to see your housing prices drop. So, you know, home sales cancellation surge is just crazy. A man bought solar panels. I have been getting all these different things sent to me because I’ve complained about solar. I think it’s overpriced for what you get.

And, you know, think about it. I have a $400 electric bill and now my solar payment is $250 a month. What did you spend on the solar system? $30,000. Oh, my gosh. Well, take that difference and see what your return of investment is. And by the way, over the course of that 30 years that you’re paying for this, you’re going to have to replace the inverter at least two or three times during that time. And people are not getting value. One guy for his business spent $100,000 in Mississippi on solar and just says, it’s not working and I’m not making any money.

And the one company that installed it went out of business. The main solar company won’t talk to us anymore. You’ve got to talk to your contractor and the contractor’s done. So, he wants to sue, but the finance company says, no, no, no. You owe us the money. Pay us. Pay us. Pay us. Pay us. Or else we’re going to sue you. So, you’re going to see this more and more and more right now with solar where municipalities, stores, Walmart put a bunch of solar on top of the stores and used SolarCity to do it and had a lawsuit after lawsuit with leaks and damages to the building where they drilled through the building.

Look at investment companies, guys, and I’ve said this before. Why is it that investment companies say things like, if you’ve ever had solar on this house, we’re not going to purchase your house? Because you drill a hole into the roof. How are our installers the best at? They’re trained so well. What if they miss one screw, guys? That’s all it takes to get that water. What if you get a rainy season like we got last year where it rained for eight, nine days in a row, okay? Capital area action water finds itself in places you don’t want it.

So, solar is a mess right now, guys, and the return on the investment is a mess. Plus, the other thing is, I know so many people. My cousin told me, hey, I bought a house with solar panels on it. I had to take over their lease. Can you believe that? And he’s like, it’s just a ripoff, Dan. And I’m like, why don’t you tell him to eat that? Well, I couldn’t close the house if I did that. So, it’s going to get more and more creative in the coming months, guys. You’re going to see that.

I love this one. As Arizona man posed as a mechanic and imposing as a mechanic, he would take large deposits down and not do the work on the cars. Wouldn’t it take one car for that to be a problem? Yeah. Also, hey, I’ll sell your car. I’ll consign your car. And this guy would consign $450,000 cars. And then he would sell them for $220,000, keep the money. Great story below. But again, people do things like this that are just heinous and awful. And then they eventually get caught. So, let me know what you think so far about that.

I’m going to end this video with these last couple of things. First thing is, don’t forget, guys, we have a private channel called IAllegedlyLive. You sign up at IAllegedly.tv. It is great, guys. It is uncensored. It’s everything we can’t talk about other places. But people love it. And, you know, there’s hundreds of people on there. Check it out today. And you don’t want to miss out on that because the price goes up next month. So, check it out soon, okay? Final two things. There is a list. This comes out every now and then, and somebody asked me for something like this.

The Hamptons. The Hamptons are about to have a very busy summer because, like I said, there’s rich people in Fortview. The rich people are going to go out there. But if you want to hang out with rich people, New York posted a list of restaurants and places where rich people hang out for breakfast, afternoon, and evening activities in the Hamptons. So, check that out. And final, final thing, and this is great. I did a story two years ago about Spirit Halloween, what a crazy business model it was, and how some of these locations make upwards of $500,000 a season selling Halloween gear and stuff like that.

Well, this is the first time in the company’s history that they’ve canceled their party prior to opening up Spirit Halloween stores on August 1st. And what they do is they go into vacant buildings and they set up and they rent them temporarily for 90 days, you know, from basically from, you know, September 1st through September, October, and November. And that’s it. That’s it, guys. And with that, you get, you know, all these people buying all their Halloween cards. This year, they’re not going to do it for two reasons. Number one, who’s going to spend money on a Halloween costume this year? Is that a priority with anybody? I’m going to say no, it’s absolutely not.

Use last year’s Halloween costumes. Well, wouldn’t it be fun, kids, if we made our own? Yeah, Mom, let’s do that. That’ll save you a fortune. Now, the other thing is getting stuff shipped in. They are now convinced that they will not have Halloween costumes this year in 2025 because of the tariffs and because of the lack of shipping right now. That is wild, guys. It’s May right now, guys. And you’re talking about October 31st. So it’s done, guys. You’re going to see a lot of different problems with the tariffs, a lot of different problems with shipping, but more importantly, you’re going to see problems with people that don’t have any money.

And again, let me know if you’re functionally unemployed. Again, don’t be ashamed of this. Let me know, you know, there’s a great video, and I’m going to leave this below for you, where a man applied for 3,000 jobs. 25 years of experience in one area and 29 as an event planner in another area and cannot get a job. He’s applied for 3,000 jobs, and he’s had nine interviews and 12 callbacks during this time. He says that, indeed, LinkedIn are just social sites and that they’re not a place to get connected with anybody.

But check that out below. It will be the final link below. But again, very sad, but again, the jobs are fake out there. There’s a lot of people that cannot find jobs. You’ve got, it’s like dating, guys. Go on the dating site, and if you think you’re going to be separated from you and every other schmo out there, no. Introduce yourself, people. Meet people. Go out there. You’ve got to do the same thing with a job. You’ve got to make getting a job your full-time job, okay? So hit the like button, subscribe to the channel, and don’t forget to join the email list.

I’ll see you soon. Hello at iallegedly.com is the email address, and I hope you guys enjoyed this, okay? See you soon. [tr:trw].

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