One thing that happens with these financial debacles is that they don’t just make this stuff up, guys. They are, they telegraph it and they let us know in advance exactly what they’re going to do and they project what the problem’s going to be. Well, there is a company called Ninepoint. Ninepoint is a Canadian company that does private lending. Private lending for credit cards, private lending for business. If you’ve ever had a business or you know of anybody that owns a business and they didn’t go through a traditional bank and they got a credit card advance or they got, you know, different lending for equipment or machinery or for payroll advances or anything.

Usually it’s through a company like this. The problem with it is the company just stopped giving distributions to its investors. And these are great investments. You can normally earn 10 to 12 percent when you have these investments. That’s not the point. The point is that they’re not making any money and they’re shutting down payments to people. So this is a real problem. And Jamie Dimon talked about this last week and a lot of people didn’t even think about it just went right over their heads. Oh, that’s not me. Well, these private lenders are not doing well because people are not paying their bills and companies are not making money.

So many people have written me lately and says my business is off 25 percent. My business is not doing this. I have people that are not paying me. You’ve got to do everything you can to make sure that you’re not getting stuck for payments. Your accounts receivable, anything. Make sure that you get your money any way you can right now. Now that’s serious because you’re going to see this more and more. And this company that has just frozen, you know, $3 billion worth of investors money. And that’s a lot of money that they’re not going to make distributions on.

So the small lending that they’ve done, which is only like 50, 60 or excuse me, $500 million worth of money. It’s Canadian. So it’s like, you know, 485. They gave us all these figures and you can read the story below. The problem with it is that the distribution payments that they were supposed to make, we will get back to you at the end of the third quarter. So don’t talk to us for four months about this and we’ll see if we can turn this around. Let’s get honest with each other.

Is there anything out there in the economy that makes you think that things are going to turn around in the next four months? Seriously, when we’re summer starting and businesses is suffering. BMO, which is a bank, Bank of Montreal, is what they used to be called. And now they rebranded themselves in the United States as BMO. BMO has a huge problem right now, because 90% of their loans, and I talked about this, 90% of their loans right now are through the transportation space. And, okay, big deal, right? No, it’s all trucking.

It’s trucking loans. And the problem with it is the truck drivers and the trucking companies are not paying their bills right now. They’re dead beats right now. And the reason for that is that business is awful. They’re not getting paid. They’re laying people off. The trucks are sitting there, and they can’t afford the truck payments. And the bank, the bank has has huge exposure, it says. So BMO, you’ve seen those commercials call us BMO. Yeah, we’re great. Yeah, they’re going to have a huge problem. Now, this could create a bank run.

Let’s face it. Okay. Jamie Dimon talked about this, read these two stories and combine them. And you’ll sit there and go like this is really serious right now, because what’s going to happen is if the bank goes out of business, either one of these places go out of business, what you’re going to have is that Jamie Dimon is going to walk in and sweep up the bank and leave the trash for us to pay. We’ll have to pay with our taxes and our tax dollars, you know, for these bad loans and for everything like that.

And the bank, just like they did last year, they picked up a bank for free. And it was like, sure, we’ll take over this bank. But one thing that Jamie Dimon did, because he’s not an idiot, is that he didn’t take any of the bad loans with him. And that’s what you’re going to see more and more of right now. So what else? iPhone had a problem with iPhone six and iPhone seven, where they had a class action lawsuit on the performance of it. And for those of us that have iPhones and love our iPhones, let’s face it, you don’t you sit there and all of a sudden the battery will go down, you’ll be using it for whatever reason.

And when you need it, you’ll look down, you’ll be at 12%. Well, the performance has been an issue. They got sued for this and there was a class action settlement with hundreds of millions of dollars that none of us knew about. So they’re giving everybody a second chance. Check it out below. Okay, and there’s so many iPhone users, it’s 5050. You know, we talked a lot about bank info and your information being safe. How about this? How about an Android app, where people downloaded the app over five and a half million times, these different apps, and it would steal your banking information.

Now they took these app off the app store, but people still have them downloaded on their phones, and they may not be using them. So how’d you like to turn on an app and it just steals all your bank login, your passwords and everything like that? That is horrific, guys. So read that story below. And again, five and a half million times. And again, well, the company gets sued, the company was probably fake just to steal people’s identities and things like that. So that’s horrible right now. One thing that we’ve talked about in the past is will builders go out of business? Well, how about this? In Northern California, Saris, C E R E S is a track that has 40 homes that are completely unfinished.

And they ran into money trouble two years ago, and they’re not getting done. So you’re going to see this happen more and more. The chances of finishing these houses are no, people have deposits out and the builder is just stuck. But who would want a dilapidated house that hasn’t been lived in, worked on or anything and just let the rats go through it over the course of two years? Nobody. You know, you’ve seen it, you drive down a street that hasn’t been driven on, or you go by an abandoned shopping center and there’s weeds growing up to the center of the of the parking lot.

How can this be? Well, it’s because of the lack of attention and lack of use. And that’s what happens time and again, we’ve seen this. So let me know what you think about this. But you’re gonna see this more and more often, it’s gonna happen. I don’t know how the dog walkers do it. But I decided to diversify and be a dog walker. Rosie has friends over. Come on. Come on, stay with the group. I don’t know how they do it. The dogs are fun, but they’re a challenge when you take three of them out like that.

I still don’t know how dog walkers do that. But here’s a story that you’re going to hear over and over and over again. And you’re going to think I’ve already heard that. Well, no. Unileve owns a building in Houston, Texas. It is the Galleria is a 508,000 square foot building. It’s 25 stories. It’s beautiful. Built in 1978. Nice office building. Only problem is they have a $80 million loan against it. And because of declining, you know, leases, and because nobody is working in the area, they cannot make money.

Interest rates have gone up. And they are facing foreclosure right now. Come June 1, which is where we’re at now, you’re going to see more and more of these office buildings that are going to go back to the bank because they’re going to try to wish things away. They’re going to try to do these crazy deals to save these buildings from getting foreclosed upon. But this is very simple. Do you have the money to come and cover an $80 million loan? No, we don’t. We’re losing money every month. We’re trying to stay away from foreclosure, and they can’t.

So you’re going to see this more and more often right now. But come June 1, you’re going to see all these loans that are coming due right now. And this week, you’re going to start getting foreclosure notices sent out to all these people. And auction dates will be set in the next 45 days. That’s going to happen. It’s going to happen. So, you know, it’s funny, there’s a list of the 10 most stolen vehicles in the United States. Kia and Hyundai, man, you guys are number one and two, and one and two and three and four and six and seven.

It’s like, check out this list. I won’t bore you with it. But, you know, Kia and Hyundai have both been sued by different municipalities because the cars get stolen so much that the police are after these cars. But when you see this list, and you have hundreds of thousands of cars that get stolen, it’s kind of crazy. Think that there’d be something they could do about this to fix this problem, but they don’t do anything. So let me know what you think. Keep up with the group. There we go. Rosie has friends over and I’m dog walking and I don’t know how people do multiple dogs.

This is insane. It’s been very difficult, but fun. And watch, they’ll be totally in unison right as we get to the house. The dogs are fun. I don’t care how much work it is. Brian Moynihan is the CEO of Bank of America. And on Thursday of last week, he stepped forward and said, hey, listen, you’re starting to see consumers spend less, they’re getting more cautious right now. Well, think about this, your bank knows exactly what you’re swiping your debit card on, and your credit cards, and they’re seeing less purchases, less larger purchases.

People are not spending the money to go out. They’re not spending money on gas. They’re not spending money to enjoy the good weather. They’re just not spending the money. And this is what we’re going to see through summer and that Mr. Moynihan sees it getting worse right now, before it gets better. So that’s an interesting way to put it right now, because everybody I know right now, that is smart, has a cautious attitude. I’m not spending a dime on anything right now, Dan, I don’t want to do this. Now, speaking of banking, CJ sent me something from the LGE credit union.

And they said, Dan, here’s the new fee schedule for this credit union. And I am telling you guys, you want to take out more than five withdrawals in a month, they’re going to charge you $5. You want to use your debit card too much, they’re going to charge you $5. Look at this structure. And I’ll leave the PDF below for you guys as well. But I’m telling you, you’re going to see this more and more often. How do we squeeze more money out of Dan? Here’s how you do it.

You take a credit union like this, and you charge them for everything. Oh, you want to speak to somebody? $5. Okay, you miss a loan payment, $30 instead of 15. All this stuff goes up. And again, it’s not for the people paying their bills. It’s the fact that people have a difficult time and even student accounts, they’re charging all these fees for, which I just thought was outrageous, to say the least. So one thing that we’ve talked about is identity and identity theft and things like that. There’s a family that had planned for two years to go on a Carnival cruise.

A bunch of family members got the biggest suite in the boat, paid for all these excursions, paid for things on the trip, just to go have a nice family vacation. Two days before the trip, they found out that their cruise had been canceled because the mom, stupidly, and I don’t know how else to put it, it wasn’t, you know, she made TikToks, we’re going to go on this cruise and showed her booking number. So had her name and her TikTok account, showed the booking number, and the bad guys were like, Oh, watch this, canceled her account, tried to steal the cruise, tried to get money back, tried to do different things, which is terrible.

So again, guys, watch what you post online, watch the Facebook pictures you post, watch what you tweet out, send out, send to your kids because you don’t want data like this given out to people because that is the kiss of death. And all it takes is one of these bad people to go out and do this. And these people almost lost their cruise. And in fact, they did and they had a real difficult time to reschedule and stuff like that. But that’s horrible. Okay, and $15,000 later, final story that you’re seeing is that Rubio’s fish tacos here in California, they are closing 13 stores in Southern California, San Diego area.

Great story below about this in detail. But it all gets down to labor. It’s funny, I want to remember when I went and took the pictures at the flower place and went the videos up there and Carl’s bad I ate at a Rubio’s that day places closing. Done. Goodbye. Just ate there last month. But they’re closed, because they can’t afford to pay the workers in this climate. $20 an hour. They can’t charge people too much. You know, I’m getting friends that said, Hey, I went to McDonald’s today for my kids and to buy buy some pup patties, which are, you know, unsalted hamburger patties for the dogs as a treat.

And we spent $28 on this, we’ll never go back. So you’re seeing more and more of this, these places are going out of business, people cannot afford this. And it’s just a matter of time. So share your thoughts and all this stuff. Let me know what you think about this. And again, a bunch of cool stuff happening in June. Cannot wait to share it with you guys. New sponsors, everything. Reach out at hello at iallegedly.com join the email list, because we’re gonna have two or three emails go out definitely this month.

And I don’t want you guys to miss that. But let me know what you want to say. Okay. Onward and upward guys, I’ll see you. I like the male persons running into the dog down the street and the dogs barking. Okay, so let me know what you want to say. Okay. See you guys soon. Thanks for being here. [tr:trw].

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