Banks in Crisis

➡ Dan discusses the current economic situation, highlighting issues like banks shrinking and people moving their money out of institutions, an increase in agricultural financing interest rates, the rising issue of shoplifting causing businesses to close, and the questionable health of major retailers such as Macy’s and JCPenney. He also mentions problems in the automotive industry and airline service deterioration while expressing his distaste for how COVID relief money was used by airlines. He ends by noting a story about misuse of PPP loan money.
➡ The commentator discusses various issues including the efficiency of airlines and the controversial proposed changes in Congress like getting rid of credit card bonus miles and perks. In automotive news, Tesla’s Cyber Truck will soon be delivered to buyers under an agreement preventing early resale. In real estate, changes in agent fee models are suggested, predicting a drop in prices across industries. Zoom is struggling due to increased competition, and a novel strategy for maintaining control in a rental property situation is discussed. In retail, stores are dealing with consistent theft, resorting to keeping items locked away. High-end real estate in L.A is stagnating, leading to more properties being rented out. The state of business is considered precarious with exceptions in certain industries. Lastly, the choice of hosting an F1 race in cold November Las Vegas is criticized.
➡ The F1 race, initially slated for September but delayed due to unfavorable weather conditions, has led to disruptions and significant, though temporary, infrastructural changes; its profitability remains questionable. CEO of Chipotle, Steve Els, is launching a new robot-staffed, vegan-based company, Kernel of Corn, in New York City. In Southern California, La Puente School District is closing four schools due to low enrollment and resulting financial challenges, reflecting the struggling economy.

Hey, it’s Dan. Welcome back. You’re watching. I allegedly, and got a good one for you today because we’re going to cover the state of everything right now. And it’s all a mess right now. It really is. And please, as usual, like these videos, please, I’ve got hundreds of videos you can take a look at. Don’t forget to subscribe to the channel. And today we have a sponsor. Dr.

Gundry and I will cover him a little later. But first things first, guys. Banks are shrinking right now. If you don’t think that there is a banking problem, you are kidding yourself right now. In the last quarter, deposits, first of all, that left the banks were $174,000,000,000 left. The banks went to investment funds, brokerage accounts. People stuck the money in their mattress. But it left these big institutions and went other places.

For the first time in history, we are seeing people like Jamie Dimon sell his stock in his company, something he has never done in his run as leader of Morgan. Think about know one thing that’s fascinating is that I can’t verify this yet, but Warren Buffett sold tons of stock. But there’s a rumor that he could have been front running his stock. But you’re not allowed to promote something and then sell it.

So there could be an issue there for Warren Buffett in the coming months. So we’ll see if that plays out. Isaac is a farmer, and Isaac has sent me some really good content. First thing first, that’s kind of funny is he said, hey, I met my wife on Farmersonly. com, the dating site. I thought he was kidding. Okay, there is a dating site for farmers. And again, I thought it was a joke until I went to the site.

So you want to meet some farmers, go to farmers only and check that out. Which I thought was hilarious. But what’s not funny and shows you the state of where everything’s at right now is Isaac talked about his crop and being a farmer. And one thing that people don’t realize is that you finance the seed, you finance the fertilizer, you finance your labor basically in advance. You basically go out and get enough money to make sure that you can plant and make sure that you can have a full year of crops.

Well, think about this right now. This has gone through the roof right now. And he was telling me that the interest rate right now has gone to 9% to do this, guys, it’s doubled. Okay. You have higher interest rates for certain businesses. For that industry. It’s 9% right now to go finance that a farm. Now the farming industry is completely upside down. This is know our beef herd is completely off.

This is why we’re getting beef from Paraguay right now. And again to slam this. The safety concerns that we have here in the United States are just a little different than places like, you know, go eat canned meat. Go get a canned chicken. Go do your own thing. Don’t feed it to people. Okay? My late girlfriend used to know, because she ate a lot of organic stuff, who was truly organic and who was not.

And as a law professor, she would get furious when restaurants would say everything’s organic. And then she would ask them who the farms were and she would know that these ones weren’t. And yes, it was insane. And yes, the waiters would get angry at me and not her. So I could tell you funny stories about that forever. But the lunacy of this. Now, Sacramento county, they have a problem with theft in targets.

So what did they do? They called the sheriff. Hey, listen, we want to start getting the sheriff involved with these people stealing. So Jim Cooper is charge of the sheriff’s department. And he was furious because Tark was to say, listen, this is how you’re going to arrest these people. This is how you’re going to treat these people. Now, by the way, these people are criminals. These people have been caught stealing.

And no, we don’t want these people accosted in the store. We want you to take them out back. And like the sheriff said, what happens if it rains? We’re out in the rain to deal with these people. This is the lunacy of this. He went to X or what used to be Twitter and posted this online. But there’s a great story about this because this is Looneyville, guys.

You know, hey, we need to treat these people with respect and we did not give them a hard time and not have them be embarrassed. Embarrassed, embarrassed, embarrassed. Shoplifting, embarrassed. We don’t want to deal with that. You are going to see more and more businesses close because of theft than you’ve ever seen. The next few months, along with the JCPenney story that we talked about in the last video, the one that was sent to me was the story of Macy’s and JCPenney’s of will they make it through the, you know.

So we’re going to find out. They both have had a massive amount of stores that have closed. There’s a great story below on this. But again, what’s real, guys? Are they going to make it? Is it good? Are they upside down? Who knows? Okay, you have to look at this and take it for what it is and understand that everything is off right now. The car market is lying to all of us.

Every single car company is lying to us, telling us how great everything is right now. The only guy that I really think is selling anything, but he’s not. I don’t think he’s making money is Elon Musk right now. Now, car auctions right now. It is crazy, guys, absolutely crazy, how these cars that people paid too much for are going back to the bank. And the banks then try to auction them off and cannot auction them off.

Don’t they just want to pay more than it’s worth? No, they’re not. They’re not. Share your thoughts on this stuff so far. Let’s talk about our sponsor, Dr. Gundry. We all grew up with that ridiculous food pyramid that told us what to eat and what was good for us and what was bad for us. And we found out as we got older that it was completely ridiculous. Now when you get older and you realize that, hey, you gain weight and you just seem like you can’t lose weight and you’ve got issues with your gut and issues with your joint pain.

Dr. Gundry, who is a famed cardiologist, couldn’t lose weight. He would get a low fat diet. He ran miles and miles every week and could not lose weight. He finally researched eating properly and he changed his diet and started to eat things that were healthier. And if you go to the link below, which is Dan, and click on that link, you will see a video from Dr. Gundry on what is the proper way to eat.

Because let’s face it, as we get older and we have our gut, have, you know, our belly size is increased joint pain, there’s things that you can do about this. And if you eat properly, that’s all you need to do. It’s not a matter of taking prescription drugs. It’s a matter of eating right. And Dr. Gundry’s put together a great video for you. Check it out today, gutkunsprotocol.

com forward slash Dan. And check it out today. Use the link below. We are seeing major problems with the airlines. The service has gone to zero. It is horrible. It is cattle. When you hop on an airplane now, unless you fly on something semi private like JSX or one of the private places, it’s awful. It’s just a horrible experience. And the thing that floors me is that people save money for like a legacy trip.

And what I mean by that is, hey, it’s my wife and I’s 30th anniversary dance. So we wanted to step up and buy a business class ticket to Singapore or to wherever, and then they get bumped by somebody. And there’s a lot of stories that are sent to me about that, where people are just disrespected and. Wait a second. I paid for this, okay? And I paid thousands of dollars more to get this access.

And you’re giving it away. Sometimes they give it away to the pilots, too, which is horrible. But American Airlines, great article below about how they’re in a tailspin right now because they’re losing money hand over fist. Now, I want you to think about this. During COVID and during 2020, we gave the airlines $60 billion of our money, $60 billion of our money. And it was squandered. And they didn’t fix anything.

You understand? They just lined their pockets with this money, didn’t do anything with it. They didn’t change the procedures. How do we get ourselves more profitable? We got a no nO. They took advantage of us. Do you understand? And the PPP loans and all this stuff. There’s a guy out there, and there’s a great story below about how one guy went out and bought himself an island with his PPP loan money.

He’s spending five years in jail right now. You’re not allowed to do. Okay. Okay. Now, are they catching up to these people? Yeah. Do you wish it was faster? Oh, yeah. But is it coming down? Yeah, it is. So PPP money that they fleeced all of us for, okay. Is having problems. But American Airlines, name an airline right now that you say, oh, it’s giving me great service.

The other thing right now is that in Congress, they want to get rid of things like bonus miles and perks with your credit cards. If they do that, what is the point of having loyalty to an airline, to anything that you get money from. What’s the point of that? And because they said it’s not fair and how people are getting charged and how people that are merchants, when you swipe one of these cards, you have to pay more for it than if you didn’t know about it.

I mean, it’s ridiculous. Absolutely ridiculous. So what are you going to do? What are you going to do again, Elon Musk seems like he’s the only one selling cars right now. I’m telling you this right now. I’ve covered this in the past over the last six months. You’re going to see cars drop to the floor. You’re going to see things. If you are patient, you’re going to be able to buy anything that you want, whether it’s heavy equipment, it’s expensive cars, homes, anything.

You’re going to see this. There’s already been a problem with the real estate industry, where people are like, wait a second. Why does the buyer’s agent, when you walk in and you get pre qualified and you sit there and you look at these houses, and I want to go see the house on Elm street, why are you paying this agent all this money? To be what? To follow you around? Okay, Drayton Nay, who’s now on YouTube and on TikTok, is a great guy.

That guy is talking about how it’s ridiculous that we’re paying these people’s agents, and now agents are saying, you know what? We’re just going to have a flat fee up front when you call us for our services, of $10,000. Okay, crackhead? You’re going to sit there and pay an agent $10,000 to show you properties. I’m telling you guys, find them yourself. Get your own lawyer, and this is going to dramatically change.

You will see. Let me finally get to the Elon Musk story that I keep evading. We have heard about this cyber truck for years, guys, what, three years now? We’ve heard about it, and it’s coming. It’s coming, it’s coming, it’s coming, it’s coming. Well, I guess it’s actually going to be delivered within the next 30 days. But you have to sign something that states that if you sell the car within a year, that you will pay a liquidated damages charge of $50,000, and you will get sued for it, and he will be able to collect it.

Tesla would be able to think about this. What this states is that you’re not selling this car. You’re going to agree that the car will not be sold and you will not resell it now, because what’s going to happen is because of you, Tesla Nuts. Is that you guys, I’ll give you 100 grand more for it. You’ll see stuff like that. Well, wait a second, Dan. If I could get $100,000 more, and Elon’s only going to sue me for 25 grand.

50,000, whatever it is, I’m going to go out and I’m going to do that. You’re going to see this anyways. It would have to be worth it to get the 50 grand. You’d have to do the math on it and have it be really worthwhile. But again, there’s a list of people waiting, thousands of people that want that car. So it’s going to be very interesting to see how this plays out in the coming months.

Zoom, remember during COVID Zoom was the only thing out there. Zoom was the way to go. There was a point in time that Zoom went up $100 in one day. Stock price did well. How quickly they fall. Zoom is having trouble and Zoo has to basically reorganize and have a new game plan because there’s other players in the space and it’s not doing as well as it did back then.

So Zoom is again, you know, it’s what we’re seeing. It’s sign of the time. Blake is a landlord and Blake says, oh, dan, I know how to fix the problem. Remember the last video where the guy had the house in Washington State and rented it out to the kook that went out and then listed it on mean? I’ve had a lot of people write me, they said, listen, this guy should go and rent it on Airbnb and move back into his house and not leave, which would be a great idea if you could do that.

I wonder how much you’d have to pay to do that. But then he would take possession of his own house again. Wouldn’t that be awesome? Blake came up with an idea, says, no, Dan, I’ve always solved this problem. I don’t know if this is legal here in California, so I’m not giving you this advice. Don’t take my advice on this, Blake. Says, dan, on my rentals, I have all the utilities in my name.

It’s just that simple. You don’t pay your rent, you don’t have electricity, you don’t have water, you don’t have gas. Okay. Now, I don’t think that would fly here in California with liberal cucaburas. Okay, but share your thoughts on this stuff, guys. What do you think? You like Blake’s idea for mean? I love the know. I really. So we are seeing huge problems with theft still in these stores.

A CVS store in Washington, DC, they can’t even put toilet paper out because people just walk in and steal it. And I am telling you guys, enough is enough. So what they did was they have pictures of toilet paper, like in a case. Oh, yeah. I want the twelve pack. Can you bring it to me? And they have it locked in the back. Okay. Imagine the warehouse space for toilet paper.

Imagine the waste of space for that to keep people out of there. Is that insane? That’s just where we’re at right now. And the lunacy that we’re putting up with, and nobody’s getting arrested, nobody’s getting tried and convicted of these crimes, to say the least. Mansions here in Los Angeles are not selling. So there’s a brand new thing. Instead of buying this place for 13, $14 miLlion, why don’t you just rent it for 150 grand a month? That’s a great idea, Dan.

So great story below about how you can rent a mansion for $150,000 a month. Now, I knew somebody that did this, okay? And Derek was a successful guy, has a house in Oxnard. And I knew this guy for ten years. And then I realized, oh, he goes, yeah, meet me at my rental house. I’m like, oh, wow. So I met him at Oxnard, and this was a few years ago at Christmas time, between Christmas and New Year’s.

A branding expert, and he gets paid a lot of money to do branding deals. Like he got a deal with a watch company where they paid him $25,000 a day. And he was going to give me advice on my conferences. And he says, listen, I’ve got 4 hours on this date. Drive up to my house and meet me. You bet. So sat down and talked, but we were in his rental unit and it was between tenants.

And I’m like, well, what do you do? Do you rent it out? Oh, I rent it out for 90 days. Longest you can rent this place for is six months. One of the Rams coaches rented it, actor rented it from him. But people, hey, I’m on location, going to shoot in Los Angeles. Nice place, but he gets top dollar for doing that. And he liked it. Well, what do you do when it’s vacant? Well, it’s cleaned up and it had very little furniture in it, just minimal amount of furniture.

And people can bring their own stuff in, but they’ve got a nice clean house, nice tile, nice things. But you can rent a place on the beach in Manhattan beach, which is beautiful. It’s a really nice beach for 150 grand a month. What do you guys think about this stuff? Do you think this is the future of these high end properties? Selling this stuff instead of selling it, having it sold again? Things are broken right now.

Things are not good. Business is not good. Business is not the same as it was. Anybody that’s doing well is selling something negative. They’re either in the repossession business, they’re lawyers that are dealing with crime, dealing with divorces, bankruptcies, things like that. Let me know. I’m going to finish this video with these last few stories. The first one is the F one race in Las Vegas. Think about this.

No one associated with F one looked at a calendar and then a weather report to say, hey, what’s the weather like in the middle of November in Las Vegas? What’s freezing? Guys, it’s anticipated that it’s going to be between 30 and 40 degrees the night of the race. Okay, there’s that. But think about this. Two months ago, if they would have had the race in September, it was 98 degrees, guys, when I walked out, actually, two months ago.

So completely different weather report. Okay. So also, f one apologized for the disruption to the city and how bad it is as far as the construction. And they said this is a lifetime legacy project that we’re building. And with that, it’s going to be an investment for the future. There’s a lot of things, guys, that are temporary grandstands and businesses and buildings and things like that that are getting ripped down three weeks from now.

So it’s going to be crazy, guys, to see how this works out and if it’s going to be profitable or not. The next thing is Steve Els. He’s the CEO of Chipotle. He’s starting a new company that’s going to be vegan based. Okay? And it’s going to have robots only at Chipotle. And it’s called, you know, kernel of Corn. Okay? So it’s going to start it in New York City, and he’s going to have, at the peak, three employees in a location.

The rest of it will be robots, and you will have nothing. You won’t have a big staff, and we’ll see if it works. Okay? Final story is to talk to you about how bad things are right now. La Puente School District here in Southern California. LA county, it’s east of Los Angeles, 1520 minutes. Okay. They’re closing four schools right now, guys, because of low enrollment, they cannot make any money in the school district.

So they’re going to get rid of schools right now. Is that crazy or what? So again, the state of everything, how bad everything is in the economy. That’s what we’re dealing with right now. Please don’t forget to like the video. Please don’t forget to subscribe to the channel. If you want to email me, email me at. Hello@iallegedly. com? Onward and upward, guys. I will see you guys very soon.

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