➡ People are increasingly turning to pawnshops to borrow money due to financial desperation, with many defaulting on their loans. This trend is seen nationwide and is not limited to any specific demographic. The rise in pawnshop usage is a sign of the times, with people struggling to afford basic necessities like gas. Additionally, the ‘buy now, pay later’ trend is leading to record defaults, and businesses across various industries are feeling the impact, with some even going bankrupt.
➡ The cost of raising a child has increased to $300,000. It’s important to research the cost of living before moving to a new area, as it can vary greatly. Trader Joe’s has a class action lawsuit where customers can get $102 back if their credit card information was misused. Counterfeit goods are damaging the industry and arrests are being made. Lastly, a man in Oklahoma won the lottery twice in one day, totaling $300,250.

Hey it’s Dan, welcome back to I Allegedly. I’ve got to give them for you today because people are borrowing like they never have before, they’re trying to get creative, they’re getting very very desperate, and I’m going to cover all of this today. And this is affecting each and every one of us. It’s not just you, it’s not just people that are not making a lot of money, it is everybody. Like, subscribe, today we have a sponsor, Noble Gold Investments, and let’s get right into it. Pawnshops are a great way to get money, quickly. You have something of value, and it can be gold, jewelry, you know, it could be collectibles, I’ve seen tools, I’ve seen musical instruments, I’ve seen everything.

And you can walk into a pawn shop and do it one of two ways. You can say, hey, I would like to sell this item here, at which point they’re going to make you an offer, if they’re interested, and you leave, they own the item, do paperwork, and that’s that. Or you can borrow against the item. Most loans here in California, it’s four months, and interest is fairly high on what they give you. You know, people say it’s a good deal, I’ve done it before, you know, 15 years ago and I needed money for something, and you have to do it at times, you have to do what you can do.

The problem with it right now is that when people take out these loans, they’re having more and more people that are defaulting, and at the end of your term, let’s say it’s four months, they then notify you and say, hey Dan, if you don’t pay us, and re-up the loan, come in and sign the paperwork, pay the fee, which if you pay a new fee, start the loan all over again, we’re going to sell the item, and you’re going to lose it, have this date to do this. Now some people just let it go, but the problem right now is that you’re seeing more and more people that are going to pawn shops, they’re busier than ever, around the country.

It doesn’t make a difference where this is at. It’s not just in the South, it’s not just in the Las Vegas area, it is all over the place. Now, we’ve all seen pawn stars, oh I’m going to sell it, and these people basically go in there. Rarely have I seen, I think in all the hundreds of episodes I’ve seen, I think I’ve only seen a couple of times where people actually took a loan against something, and didn’t go out and sell it outright. The problem with this just goes to the number one reason that people are doing this, gas.

I need gas for my car. I cannot afford it right now. Is that wild? It’s unbelievable guys right now that people are borrowing in a way like this, and they are not being able to afford gas right now. That bothers me, it’s very sad, but again, people are, I’m hearing the same thing. People, husband and wife are together, one of them loses their job, and the other one’s getting their hours cut 20%, 15%. And they’re just not making money right now, not making money at all. And the big thing that’s defaulting right now, which we’ve talked about in the past, but this is more of a young person thing, and that is buy now, pay later.

To buy now, pay later, you go and buy merchandise. It could be $10, and instead of paying now, you know what, you can break it down into two or three payments. And the problem with this is that people get multiple loans doing this, and they default on this, and they are defaulting at a record pace right now. There’s more and more people that are behind with their buy now, pay later than before. And, you know, once again, the industry, the on-shop industry, loves it. They’re making a fortune right now, because they’re not lending you, trust me, if something’s worth, let’s just say, give a $5,000 watch.

They’re not giving you $4,500 for that. They’re giving you $800, $1,200 if you’re lucky, and then they’re going to wholesale it out. I talked to one guy, and he explained to me, Dan, I’ve got Rolexes, I’ve got stacks of Rolexes, and we’ll just wholesale them out for 50, 60 cents on the dollar, and the buyers think that they’re, you know, hitting the home run with us, but we’re getting our cash flow back, and we’ve made a killing. We’ve made well over, you know, 50% on our original investment. So that’s happening right now, but it’s the sign of the times with what’s going on right now.

I am going to the National Association of Broadcasters this week and got invited up to that, and my buddies were going to go, they’re not going to go, you know, I’ll just fly out there. So I started looking at flights, and I looked at Spirit Airlines, and I said, you know, I’ll fly Spirit, I hate this airline, but I’ll fly Spirit. And then it was just such a convoluted thing that as I searched it said, hey, you run the risk that this flight may be canceled. Okay, thanks. Well, I’m at the airport. So I didn’t book the flight with Spirit, I’m going to drive to get there.

And the thing that blew me away was that Spirit now looks like Dr. Marvin sent me a great story, and by the way, it’s the Dr. Marvin show today with all the stuff he sent me. You’ve got so many different airlines that are in trouble. Spirit looks like the first one that’s going to actually liquidate and go out of business. So that’s, it’s sad, and you don’t want to see it happen. But, you know, I just get it, they’re just a horrible, horrible company, you know, they’re just all, they’re just, you know, they tried to merge with JetBlue, and the Biden administration didn’t allow it, which they should have sued the Biden administration for that, for not allowing two airlines to get together that were weak, you know, we’ve seen this happen before.

Oh, we don’t want too many, you know, we want, don’t want grocery stores to merge, you know. So now you’re going to have people lose their jobs, airlines go out of business, people not get paid. It’s going to be just a disaster, you know, which, again, the Miami-Dade School District has bought 50 electric school buses to go green, and the green energy shenanigans doesn’t work because they’ve been down for a year. Think about that, you buy a school bus and it’s sitting there for a year. You buy any electronic device, you buy any car, truck, van, and don’t drive it for a year, the odds that it’s going to break down are crazy.

Just get a video with my friend who I went to lunch with the other day, and the guy parked his car on a city street, came out and raps ate the car, crazy, crazy, crazy, crazy. So imagine these electric school buses that aren’t working, and the local Broward County Sheriff, or school district is investigating this, the news media is investigating it because they’re just not working, it’s an absolute waste of money and it didn’t work. There’s a lot more to cover on this. Let’s talk about our sponsor, Noble Gold Investments. You know, you have to protect your retirement, you have to do something different right now.

You need to look at gold and silver from Noble Gold. Noble Gold has a special right now that if you sign up with them on new qualifying accounts, you can get a free tenth of an ounce of gold. That’s exciting. Contact them today, 877-646-5347. They’ve done over two and a half billion dollars in transactions, they have amazing customer service. Contact them today. Over 10,000 clients, they’re clearly doing something right, guys. Contact them today. But as we look at protecting ourselves, one thing about Noble Gold Investments is that you can actually physically hold the metals in your hand.

You don’t have to have them stored, you can have them held in your possession. Check it out today, 877-646-5347. Contact them today. Now, everything is taking a hit right now. I’m going to give you examples of a bunch of different industries. 801 Chop House, it’s a very popular, high-end steakhouse. No, it’s not. It went bankrupt, okay? When you have steaks that are well over $100 a piece, and they advertise this, you know, steaks are different. Yeah, nobody’s buying them. They’re different, all right. Okay, then you got Kate Weiser Chocolates. It’s been in business for 12 years.

A chocolate company that closed all its locations. And again, who’s the last time you needed to go out and buy specialty chocolate? Okay, I’ll wait. How about $125 steak? Okay, that’s like anniversary. That’s like, you know, Johnny graduated. You know what I mean? Stuff like that. That’s when you celebrate like that. You’re not doing that on a Tuesday night. That’s what people just don’t get. So happening more and more and more that people are backing down. Life is so expensive right now. Dr. Marvin sent me something where if you have a child born today, it’s going to cost you $300,000 to raise that child properly right now.

300 grand. One of the most sleepless nights when my ex-wife was pregnant with my daughter, I was on Catalina Island, and I told this story before where Phoebe was on, we fell asleep, and I woke up and they were talking about what it costs if your child is born this year, and she was pregnant with my daughter. It’s going to cost you $100,000 to raise your child. And I just didn’t sleep another second that night because I’m thinking, God, I got to make some money. I’m not going to go record that. $100,000.

No, it’s 300 grand, guys. So enjoy. It’s gone up a ton. Oh, I’m telling you. It’s just nonstop. Got a great map again, Dr. Marvin, of what it costs to live in different areas. Here’s the thing. When you do your research for like, hey, I’m going to move down to Wichita, Kansas, my friend did this nerd wallet thing where he would break down cities. And one thing that he had happened, this was, gosh, probably five or six years ago, he was getting hired by a company out of the South, and they offered him a salary that was basically 25% lower than what he was making.

But this is huge. You’re the only guy that makes more money than you at the company is the owner. And I’m like, well, that’s great. He was not in Kansas, like Tennessee or someplace like that. And he’s like, look, I’m in Southern California. Rent is $4,000 a month. And it’s just all relative. But you can do the education, guys. You can find out. If you hear a family member or relative is going to move, go check it out. Gosh. Trader Joe’s. Trader Joe’s has a class action lawsuit. And there’s a settlement where you can get $102.

Because if you use your credit card, one thing that they’re not supposed to do, and the lawyers that look for things, is if they put any describing information for you in your credit card, they settle the lawsuit. There’s a lot of money. And you can get $102 back for that if you were the victim of that new shop at Trader Joe’s. So I’ll leave the link below for this. And you can research that. But gosh. A lot of counterfeit goods in West Palm Beach. They arrest the one with $1.8 million in counterfeit goods. Now, I know there’s people that love to buy stuff like this.

But it just destroys the value of the industry. It destroys the industry. And it’s so bad. Don’t buy the counterfeit stuff. They’re starting to arrest people that do these counterfeit parties. Imagine a Tupperware party where you’d go there and, oh, look. This thing collapses. It’ll hold my meatloaf. No. This is for counterfeit goods. And it’s got everything from cologne and perfume to purses, to handbags, to different things like that that people can use and buy. And it’s a fraction of the cost. None of it’s real. And they’re starting to go in and arrest these people because people are stupid and they advertise stuff like this on Instagram, Facebook, and other places like that.

So don’t do that. Do not forget that we have a private channel called iAllegedly Live. You sign up at iAllegedly.tv. It’s uncensored. It’s all the good stuff. I am on Facebook. I am on Instagram. I am on Spotify, iHeartRadio, all that stuff. I love doing that stuff because if you’re out and about and you’re driving and you want to be on Spotify and you just want to listen to Danny, you can do that. Yes, I’m talking to the third person. Oh, what else? You know, there’s so many different things that are happening right now.

A couple things to end this. There was a guy in Oklahoma that won the lottery twice in one day. He won a $250 jackpot. Then he had a scratcher for $300,000. So he won $300,250 in one day. Hello? That’s impressive. Okay, but they tried to make a big deal up. He won the lottery twice in a day. Okay, come on. The guy won $250 on a three-number deal. So there’s that. Final, final story. Do you know who Joey Chestnut is? And again, thank you, Dr. Marvin. Joey Chestnut’s doing a tour, which, again, they’re brilliant to put this guy out there because a little bit of Americana.

I love the hot dog, Nathan’s Hot Dog Eating Contest, where this guy can slam in 10 minutes 50 hot dogs down more than that. And now he’s doing a tour that you can eat against him. And I never lose it. Really, I mean, I’ve seen him lose like one time in all those years. But it’s impressive. And you can go up against Joey Chestnut and you can see that. Does that interest you? I know there’s a lot of people that are going to go out there and watch this guy slam hot dogs. It’s gross because the guy picks a hot dog, sticks it in water, and sucks it down.

I mean, oh, my God. Hello. Email me hello at iallegedly.com. Thank you, Dr. Marvin. You’re always the best. I appreciate each and every one of you out there. I appreciate all the comments. I appreciate everybody’s input on this. Couldn’t do this channel without you guys. And it’s so great. And let’s hope that the economy turns around right now for everybody. But just get rid of your gas. Get rid of it. [tr:trw].

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