➡ A shady lender was giving loans to people who couldn’t pay them back, leading to many defaults. This situation was worsened by a lack of regulation. In a separate incident, a construction company bought a truck for an employee who then ran away with it. Lastly, due to a high number of car thefts, Hyundai and Kia are being forced to install anti-theft devices in their cars in Michigan, costing them $500 million.

Hey it’s Dan. Welcome back to I Allegedly and I’ve got a good one for you today because people are living the illusion of affluence and as I drive through this really, you know, expensive neighborhood I thought, oh I’m gonna go to that parking film. House is here, you know, five, six, eight million dollars, you know, you’re about three blocks away from the water but one thing that you’re seeing in the Harris poll did a survey on people living the dream of $100,000 a year. It used to be a benchmark and now it’s just a mess.

Like, subscribe if I didn’t say that and please share this video with all your friends and neighbors. $100,000 isn’t what it used to be. 64% of the people surveyed said that with the $100,000 income they still have to go out and do Uber Eats, have a side hustle, cut corners and make up for the fact that they don’t make enough to live the life. Now, the majority of these people are going out and buying designer handbags, designer clothes, designer sunglasses that I couldn’t even name the name of because I could care less about stuff like that.

I am the guy that if you give me a pair of sunglasses you’ll leave it at your old girlfriend’s house and go, oh, anyways, I digress. But this is fascinating because what we have here is we have all these people that are admitting that they’re not making enough money and I don’t care what the world tells us. Things are too expensive right now. Everything is too expensive. It’s too expensive to go out to dinner, it’s too expensive to go out and get lunch. I am a firm believer. If you like fast food restaurants and you don’t have the coupons, you’re a fool right now because I have a brother who’s sending me all these different things and right now there are so many restaurants that if you spend $50 they’ll give you $10 for free gift cards.

So if you know you’re going to eat there next year and you spend $100 and you get another $20 for free, one of them was if you spend $100 you get $40 for free. I thought, wow, that’s crazy. I’d use it quick to just before the bankruptcy, but that’s crazy. 61% are currently working or considering side hustles. Uber, Lyft, freelance gigs and selling personal items. Guys, everybody should do that. You should get rid of everything that you don’t need right now in your life. That’s important. The other thing is people that make $100 grand a year, extreme cost cutting behaviors.

They’re going through and getting rid of everything that they don’t need. I think this is a way to live. I have money, guys, and I don’t spend it. I have a good deal. I was trying to think, what do I have that’s success? And it’s my streaming platform. That is a lot. I have every movie channel you could possibly think of. I still have Tubi. I still have Pluto. I still have all the free apps that I could hook up to my phone because I can watch that stuff all the time.

I hate Amazon. I’m not on Hulu. I don’t have Apple TV can bite me. I don’t have that, but I have all the movie channels. That’s my access. That’s the one thing I do. I don’t have the NFL package. I’m not a fan. I was pleased to hear that Taylor Swift’s wife is not going to make the playoffs this year. I thought that was great news. But anyways, people are embarrassing themselves going out and going, hey, let me Venmo you. Oh my gosh, my Venmo is not working. People are acting like these money apps are not working right now.

Isn’t that crazy? I mean, hey, listen, you know, Chris, if you’re going to buy me lunch, you know, you might buy me lunch. They don’t have any cash or my credit cards on me. That’s how you handle that one. You know, buy now, pay later. It is a slow burn and a slow death. These people that are doing this, I don’t do that. I can’t believe people are doing this right now, but it’s happening at a direct pace. But again, you look cool. You look great. Drive a car you can’t afford.

And I went and spoke to a car guy as I worked on cars. And I said, I want the guy that sells the most amount of cars here. What? Well, I’m Jeff. I’m new. I don’t care if you’re new, Jeff. I want to talk to the guy. So I talked to a guy who has sold over 3,000 cars. And we’re talking about everything from the cars, the warranty, the service, everything. And that’s the guy you talked to because of the fact that, you know, we were going through everything that was needed to have a nice, reliable car that was a good deal that I’m not going to service.

And how about this one? If you go to a place like Carmax and you buy a car and you buy the warranty, you know that certain cars, they based, it’s not based on the purchase price. Oh, you have a $30,000 car. Your warranty is going to be X. It doesn’t do it that way. The warranty is also based on the car. So think about this. Mercedes, BMWs, Mini Coopers are much more expensive. This guy was telling me he sold a Mini Cooper to somebody. And the warranty alone, the warranty alone was $8,000 to have the standard 150,000 mile warranty.

Why? Because that Mini Cooper is going to be sitting in the shop. Table tennis on the ground or as you like to call it, pickleball. I love Christmas time. Nothing is better than going to the post office and getting stacks of packages. Thank you guys so much for everything you send out. I truly appreciate it. Make sure you sign up for the Christmas card list. Merry Christmas. Happy Hanukkah to everybody. Make it the best year ever. Anyways, I digress. But you look cool. You look really good. I’m really proud of you.

You know, the American dream isn’t what it used to be as a great way of putting this. Because I’m telling you, no one cares what you drive. I’m in this. Date somebody that cares about this and you have a recipe for a disaster. Date somebody that is concerned with where you take them. You have a disaster on your hands. Be content. Have like-minded interest in everything, in your friends, in what you do. We all have friends that have a lot more money than us. We all have friends that have opportunities and travel more.

And it’s funny, I have a friend of mine and she has literally traveled the world. And she and her mother go out and they got a great timeshare program but they can transfer the timeshare and they’ve been to Spain, Croatia, Europe, Ireland, all these crazy spots instead of going to the Hilton, you know, in Newport Beach. So they’re somebody that’s like, wow, that’s really a great way to do it. And every year they do something really big and go all these crazy places but do it economically and fun, you know. So I just am blown away.

Whenever I see articles like this, it always, you know, to me it always reminds me that the world is full of people that just want to look so cool and so good. It’s like I like to have all this money and they just don’t have it. A few things that are good. I want to talk one more banking thing right now that’s crazy, is that the office of the Comptroller of the Currency is going to make it easier for community banks not to have regulation. This goes back to the stuff that we’ve talked about, about getting rid of checks and getting, you know, hey, you want to lend more money to people right now? Go ahead and lend more money.

You won’t have us pesky auditors on your back right now. Guys, this is, you want regulation in certain areas of our lives, you know. Is it too much with our government? Hell yes, it is. We all know it is. But the idea with this, to be able to go out and to have banks willy-nilly lend money, there’s a problem. Why? Because private banking is a complete disaster right now. I’m going to give you the perfect example of this. There was a bankruptcy that happened in September called Tricolor and right now two of the executives, I’m going to get their names right, have been charged with systematic fraud with this multi-billion dollar company.

And what they did was Daniel Chu, CEO and chief operating officer, David Goodgame, he didn’t have Goodgame because he was a criminal, Mr. Goodgame went out and what they did with the private banking was they went out and lent money, excuse me, went out and borrowed money from banks and used existing assets that they already pledged. In other words, here’s the cars, here’s the loans that we’ve written, these are the assets that we have. And then duplicated it, changed names, changed shenanigans, changed spreadsheets so that they could get money over and over again.

Now remember, Tricolor was a degenerate third-party lender that would lend money to the lowest of lows. And talking to the car guy, he would say, we don’t deal with lenders like that because these lenders don’t care if you have a job, these lenders don’t care if you have a bank account. Imagine borrowing money, you’re a financial, you’re doing a financial transaction to purchase a motor vehicle, you have a bank account, no senior, I don’t. You know what I mean? It’s insane. These people went out and did this to them.

When the loans started to default, because there’s no regulation and no fore oversight, it’s funny, my brother told me about a construction company, he knew about where they did this, bought a car, hey, you know what we’ll do? We’ll buy him a truck and give him a truck to keep him as a good employee. That guy one week later fled the company and fled the country with the truck. Well, we don’t have it, we don’t know, he stole the truck. And I don’t know if they ever called the cops, I don’t know what they did, but that’s the type of thing that happened with Tricolor is that you had the worst of the worst people in society borrowing money that had no ability responsibly to pay it back.

Now what I mean by that is you have a bank account, you have a check-in account, you have a job we can verify with your pay stubs. Yeah, come on. So these guys, these guys, a multi-billion dollar fraud. JP Morgan had hundreds of millions of dollars that they lent this place, thinking that they were doing it, but that the core of first brands, which was the car parts supplier, who again would pledge the assets repeatedly to borrow more money. And then by doing that they would make it so you’re going to have a crackdown.

I talked in my last video about the woman that lied about her, you know, her startup in the venture capital. You’re prosecuted like that Charlie Javits lady that invented, you know, her student loan debacle thing, and it just was a joke all the way around, you know. So just a short video today for you. Please do not forget to sign up for the email list. It is last chance to be on the Christmas card list. Use the link a picture of it, and you can be on the list. I give out thousands of dollars to the stuff every year, get a Christmas card between now and Christmas, that’ll go out, and then you will get put on the list.

So let me know what you think about everything. Final, final story, which I love, is that Hyundai and Kia started in Michigan because of the theft of those cars. If you own one of those cars, they’re going to install an anti-theft device on those cars right now. So many people have had the car stolen. Municipalities like Wisconsin, like, you know, states like Michigan, are sick of it. So Michigan actually sued them in one and is making Hyundai and Kia spend 500 million dollars to fix these cars. Certain years, the cars were like, thieves would see them parked and say, oh, let’s go grab that, because it would literally take seconds to get in the car and start the car, and steal it, and be gone.

So Kia and Hyundai have to put anti-theft things on it, and then they also have to put, they have to pay for the people that had grand theft with the, their, you know, their cars getting stolen and their cars getting damaged. Isn’t that wild? So Pacific Coast Highway is that street right there. You’ve got, you know, Lido Isle right there. You’ve got the boat parade area is going to be right there that passes by. Just a nice area. So, you want to get a hold of me, it’s Hello at iAllegedly.com.

Do not forget the private channel that we do, and we drop videos every day there, and that is iAllegedly Live. Hit the like button, subscribe, please share this. But again, no one cares. You know, hey, gosh, she’s got it all going on. Look, he’s making this money. The problem with this people, the bar is getting lower and lower and lower. You couldn’t survive making a hundred grand here. Couldn’t live in this neighborhood. You could rent somebody’s, you know, garage probably to live in this neighborhood that I’m walking through right now.

Point is, is that no one cares how you look. They just don’t. Flash. It’s nonsense, guys. Please, please, be real, be real, okay? Hit the like button, subscribe. I’ll see you very soon. [tr:trw].

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