➡ Companies are laying off many employees due to the rise of artificial intelligence (AI), which is also increasing costs instead of reducing them. Inflation is high, affecting the cost of gas, food, and insurance, and the war is impacting the economy and daily life. The job market is tough, with fewer real opportunities, and the housing market is unstable, with more houses for sale than buyers. Global debt is increasing, affecting both rich and poor, and there’s a growing wealth gap.
➡ The housing market is currently experiencing a surge in foreclosures, with many properties being auctioned off. However, buying these properties requires a significant amount of cash upfront, often in the hundreds of thousands or even millions. This situation is creating a unique dynamic at auctions, where bidders are bringing large cashier’s checks to secure properties. This trend is part of larger financial changes affecting everyone, including inflation and layoffs.

Hey, it’s Dan. Welcome back. You’re watching IAllegedly. I’ve got a good one because we’re gonna talk today about layoffs, inflation, and war. Like, subscribe. Let’s get right into it. I love all these business stories that get sent to me that I can share with you guys. The first thing is AI. You’re seeing companies at a record pace lay off tens of thousands of people. Meta, Coinbase, Amazon. They’re making major changes. Microsoft, they’re making major changes. And they’re blaming the fact that AI is gonna not only take jobs, it’s taking jobs on a weekly basis.

People are losing their job because people are spending less money and they basically a hot dog place that originated in Chicago. And I went and had lunch with my brother. And we were blown away because they’re getting… they’re starting to set up kiosks where you order through the kiosk. And as ridiculous as it sounds, it’s one of those places that I’ve never heard anybody walk up there and not order something completely custom. And we asked the lady up front, he said, how’s that gonna work? She says, we have no idea.

Nobody sits there and just orders right off the menu. They just have, oh, don’t put sauce here. Don’t do this. Don’t do that. And again, AI is not going to be able to take care of that. You speaking to it’s not going to be able to take care of it either. But you’re talking about tens of thousands of jobs basically being lost monthly from AI. You know, they’re talking about how AI is actually driving costs up. It’s not bringing costs down. Broker Aaron sent me something that was pretty fascinating where people went out and there was a huge data center that was going to be built in the Connecticut area and they backed out on it.

And he said, how many of these are going to get stopped? How many data centers are going to get stopped from being made right now? Who knows? Who knows? And inflation is back. It’s worse than ever. You know, we’re being told inflation is cooling. It’s out of control, guys. Gas is out of control. Food is out of control. Insurance is out of control. And if you are stupid enough to risk it and go, hey, I’m going to go without health insurance, you’ll get sick. You’ll break your arm. You’ll cut your finger.

You’ll have to go to the emergency room. And then they’ll want $15,000 from you to take care of this where if you had insurance, it would basically you’d be making a copay. So it’s getting worse right now. And it’s not cooling off. That’s the big, big lie. Okay. Gas prices are not quietly, they are crushing the economy. The war is having a major effect on each and every one of us trying to get through this right now and trying to budget and live. You know, I did, I did a short video that was crazy that I incorporated into another video.

And that was the fact that, uh, $125 million was spent more from one Friday to the previous Friday because of gas prices. And again, nobody got anything out of that. Nobody sat there and said, wow, look, I got a new bike. I got a PS five. None of that stuff. And all it did was just take away from the economy, take away from food, take away from your insurance, everything else that you could do that’s fun. Okay. You know, it’s funny. We’re being told, hey, this is an overseas war and it doesn’t affect us.

It affects each and every one of us every single day. You’re kidding yourself if you don’t think that your prices are going to go up. They’re not going to go down between now and fourth of July. This is going to be catastrophic. I have a buddy who’s coming out to visit me and I’m like, look at the, look at the plane tickets right now. They’re like $400 more than they were last month. We were just toying with the idea of you coming out, you know, the fake job market, strong market that we’re being told.

It’s ridiculous because there’s, there are less jobs being offered out there. You have to look at a job opportunity to see if it’s even real or not. One thing that a buddy of mine did where he went out and he got himself a job. Being over 60 years old was a real, real feat because of the fact that he went out and did announce a research on this and research the companies and then decided who he was going to work for and attacked it that way, which is completely a different way to do it.

And people are lazy in general. You know, I still have people. I can’t find a job down. You know, I sent out four resumes on Monday. Who cares? And you know what? They’re in the same stack with the other 40 resumes. Housing. Housing is out of control. Here is the thing that makes no sense. I just met with an expert who’s talking about the Las Vegas market. Las Vegas is going to see a real problem where people bought houses three and four years ago, and they’re getting $50,000 and $80,000 less for those homes.

I have people that sat there and spent a million dollars in a house sent me these stories, a million dollars in a house. They could rent the same house in the neighborhood for $3,500. And there’s paying, you know, almost eight for the house that they own. Isn’t that great? If no maintenance on the rent could be a different way of living. People don’t investigate. People don’t put pen to paper and they complain. It’s bad. It’s getting worse. Remember this number. This is a stat. There are 600,000 more houses right now available for sale than there are buyers.

What does that tell you? Oh, there’s a housing shortage. Dan, Dan, there’s not enough. That’s why prices are so high. Prices are so high right now, and it’s inflated with the 6.5% interest rate. This is terrible. If you can afford the house, go buy the house. Go do that. But most people are trying to kid themselves. But like places like Vegas, there are high rise condos that you can rent for under $1,500 a month. And I don’t even know how the people are renting them out for that cheap because they’re basically losing money.

Playground walking through. It’s kind of nice. You know, global debt. Debt is growing for every single person in every single economy. You’re seeing rich people and poor people be dramatically affected. And they’re borrowing money at a record pace. The only problem with it is that with borrowing the money, they’re paying more than they’ve ever paid for it before. Oh, we’re not getting a deal on the interest rates. No, not at all. The last thing they’re getting right now is a deal on this. So I just did a video on how people are taking advantage of the government right now, and lying and skimming and getting snap benefits and things like that that were intended for the poor and people that need them.

And you’ve got people that are wealthy that are taking advantage of it. There’s a place in hell for these people. And they should be prosecuted for this, as far as I’m concerned. So global debts and interest rates, global rising stress doesn’t matter. It reminds people of what happened in the UK in the 90s, which I think is great. Central Banks. This is one I really loved. This great story. Central Banks admitted that globally, we’re getting poor right now. Globally, people are making less money. People are not living the high life right now.

And they have to make do with less right now. It’s terrible. A great line that was sent to me was the economy looks strong unless you have to actually live in it. If you have to actually live in it, keep blowing the line. If you have to live in this, you realize how expensive everything is. It doesn’t matter if you’re wealthy or not. Nobody likes to overpay for anything. And, you know, there’s stupid people every now and then that global debt is going off the chart. You’re seeing that.

Split economy. This is where the fact that there is a gap. There is a very, very rich group of people that are killing it right now. And then there’s the rest of us guys. There are just, you know, you have to you have to understand this, that look at what you have a value that you can get rid of right now. Get rid of it. Sell it right now. Sell it. You’re starting to see more and more people go to alternative places to sell vehicles, second and third vehicles, places like Give Me the Vin and the KBB.

I’m telling you, if you’re going to sell a vehicle, look at unloading things and getting multiple prices before you do that. So I love the line. Central banks admit that you’re getting poorer. Think about this. There isn’t anybody that lives in an area that is not being affected by this. And it’s global right now. So is this a global recession? I think so. I think that we’re living through times that we’ve never seen before in our lifetime. And the housing market, I’m doing a big expose on housing right now.

I’ve done so many so much work on the foreclosure market and know so much about it. And right now it is. It is literally the floodgate has been opened for these foreclosures. You haven’t seen anything yet. But you Oh, Dan, I’m going to go buy myself a foreclosure. Okay, do you have the cash? Well, I don’t have $900,000. Okay, then you’re not going to buy a foreclosure. I want to see an interesting thing. Go to a foreclosure auction, especially in a nicer area where they demand payment up front.

There are people out there. Let’s say you’ve got six or 12 people bidding on these and they’re building on millions of dollars of property of you have tens of millions of dollars sitting there right now. People walk up with cashier’s checks. It’s crazy. Let me know what you think. Just thought I’d do a quick business news and finance news update for you. You want to email me. It’s hello at iallegedly.com. Can AI inflation and layoffs man it’s affecting all of us. I’ll see you soon. [tr:trw].

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