Hey, this is I, Allegedly. I’m Dan. Welcome back. I’ve got a good one for you today because people are not buying Christmas gifts this year. Buying time? Crazy. A lot to cover. Hit the like button, subscribe to the channel, and don’t forget to join our email list. The link is below in the video description, but let’s get right into it. You know, one thing that is very clear this year is that people are stretched. People are tapped out right now. And people are borrowing money at a record pace right now, and they say this is going to be the Christmas of Buy Now, Pay Later.

Wow. And here’s the thing. When do people ask what’s the highest amount of credit lines asked for throughout the year? When is that? October 15th to November 1st. So I researched this a little bit. Well, what’s a good reason to get a credit line? And, you know, if you need this money, if you, hey, listen, Christmas has come and I need to buy some gifts and I’m tapped out. Don’t do it that way. You’ve got to do it as if you’re the most successful person in the world. And I researched this. I researched banking.

And the key to this is that you’re moving up in the world and that things are getting better. I got a promotion at work. I am now in outside sales and I now have an expense report and I have got to, you know, pay for everything myself with my new company and get reimbursed for it. Reimbursed for it, but I need to raise my credit limit by $3,000 or $5,000. Well, we can’t do that. Dan, we can do $1,500. Would that help? You bet it would, because that’s what you’re going to use to buy Christmas gifts with.

So, you know, people are maxing out the cards. The wages are not going up. And this is, you know, this is what’s happening. And people are hoping for one thing. They’re hoping that they’re going to be able to buy time. But the bill has always come due. And in January, a lot of people don’t have the money to make these payments and pay off their bills. So they just have a higher amount owed on their credit cards. It’s just that simple. And again, it’s not like you’re the only person that’s doing this. So many people are doing this.

Thousands of people are doing this right now. And again, this is going to be the Christmas of buy now, pay later, whether it’s on your credit card or buy now, pay later. The thing about this buy now, pay later thing is it’s so easy to get approved for this. They will give this to anybody. If you can fog up a mirror, they’re going to give you this money. And the problem with it is that people always have the best of intentions and, oh, I’m going to pay my bills. And then they don’t. And then they don’t, you know, as small businesses are being forced to go digital, we have to accept digital payments.

And, you know, it’s funny, I had a guy out working on the garage door and they’re like, hey, you know, do you have to pay by credit card? I’m like, why? Because we’re just getting killed by the fees and the transactions and how long they hold the money, how long they hold the money. They should hold the money for a day. That’s it. You guys should have, you know, if you swipe your card on a on a Saturday or Sunday, they should have it in your account on Monday morning. Oh, no, it doesn’t work that way.

It’s taken sometimes up to five days to get the money. That is insane. Guys, don’t allow this. Switch your credit card company to get that handle. You know, more and more companies are relying on lines of credit to get by. And this is just, you know, a fact of life. When I had a business that had a line of credit, one thing that we did was we used a separate bank account for it. And all the track transactions were on that. And it’s funny, I saw my accountant this last week and we had this conversation. So remember when you had that line of credit, how smooth that was? I’ve told everybody how you did it, Dan, because it just made it so that there was never a problem with was the sales or was it credit line money? Was it where was it spent? We just had a separate account that the credit line payments would go into the money that we received that covered the credit line would be put in that account and it would pay off the credit line.

But it made it very, very clear for an accounting tax IRS, shenanigans standpoint, and it made it very, very easy. And people don’t want to hear that. But man, you know, you’re starting to see FinTech companies. Those are the financial technology companies that they want us to deal with that act like they’re banks. But we know that they’re not banks. They’re not regulated. But what they’re doing to get themselves an ounce of credibility is they’re going out and partnering with credit unions that have the. Cleanest reputation out there. I am signed up for so many different banking sites, FDIC, offshore, the comptroller, the currency people that that do the stuff with the banking industry and all the banking.

You know, when these people go out and they get fine, I am, you know, I get news about that stuff and it’s wild because they’re putting more and more restrictions on this. But as they’re doing this, banks are trying to figure out how they’re going to solve, you know, their problems and trying to get more credibility by dealing with credit unions. And sometimes it works and sometimes it doesn’t. You know, we’re going to go to switch it around today. Have you ever seen those electronic shelf labels you see in the higher end markets like Whole Foods has them.

There’s some of the other markets have them. The problem with this is you literally you literally could buy something from the pick it up off the shelf, take it to the register and it could be a different price for this. And it’s fluid. It’s dynamic pricing. I hate these terms. But what it does, computerization can make it so they can change the price on these products. Now, from an employee standpoint, it makes it incredibly easy not to have somebody go, hey, you got to change these price items, you know. And every time I see somebody changing prices, hey, how many are you doing right now? Will you tell me, oh, I’ve got, you know, six aisles.

I’ve got 88 items. And they tell you that. Imagine you click a button and the price changes in the store automatically. Very cool for them. Saves a ton of time. But who pays the price for that? You and me. That’s who pays the price for that. So just like I said, one customer could see $4.99 and the next sees $5.49. Hidden inflation at your fingertips. You know, is regulation going to slow this down? Are they going to make it so that the price you have is good for a certain amount of time? Who knows? Who knows? None of us feel good about this stuff.

We’re getting ripped off. We’re being told inflation is so low, unemployment is so low, but it’s not. You know, everything is bad right now, and it’s just difficult to deal with. So, you know, consumers are pulling back from their spending, and they’re not spending money this year. And when they do, they have to borrow it. And still, there’s a tremendous amount of people right now that are spending money with credit for food items going out to dinner. And again, I have credit cards. I use my credit cards. I pay them off at the end of the month, but I have one for business, one for personal use.

And like I said, you talked about that with the accountant. So, you know, if a certain card is swiped, I know that it gets swiped. If there’s auto repairs for one of the company vehicles, I know about that. I know that it goes into that account, and that card is used. That’s just the way you should do it, because if you want to make it easy on yourself when you give statements and year-end accounting to your accountant, you should do that. Plus, the other thing we’ve talked about this, have multiple meetings with your cash preparer every year.

You have to. And people sit there and say, well, why would I do that? Now, if you’re on a fixed income, you have one job, one source, your deductions are limited. Don’t waste the money on that. Just go get your taxes done and deal with it. The rest of us that have write-offs and maybe have a consulting business, you have a side digger, you sell things that you’re supposed to be paying taxes on, make sure you’re collecting the tax you’re supposed to collect, make sure you’re doing the things you’re supposed to do, so that you’re not getting yourself in any trouble at all.

We’re seeing a lot of problems with these mobile restaurant only. God, I mean, here we have in Southern California, you have a ton of these ghost kitchens and restaurants that were opened up that were designed to just be takeout restaurants. And they’re having problems right now. But here’s the thing. I hate takeout. I mean, I’ll eat it when I’m super hungry, but let’s face it, the food quality is not the same. You go sit down and you get a salad that’s just been cut and the dressing’s just been poured on it 30 seconds before it was put on your plate.

That’s a big deal. When you have a bowl of pasta and they grade the cheese in front of you, it’s great. That’s fantastic. But you take that home, it is not the same thing. It’s just not. And the problem with these ghost kitchens and the places that don’t have any place to sit down that are takeout only are experiencing huge downtrocks. These people are going out of business at a record pace right now. And people don’t want to admit that. They just don’t want to admit that there’s a problem with this. And they call it the ghost kitchen collapse.

But there is a place in Long Beach, California that I’m thinking about driving to for you guys that has dozens of ghost kitchens in one spot. So you may have just six, eight hundred feet. And for a few thousand dollars, you can rent this ghost kitchen. Maybe you’re going to prepare Chinese food. Maybe you’re going to prepare Mexican food. But you can rent these places just for that. And DoorDash and Uber Eats and places like that will come pick up from you. But again, will these be successful? Who knows? Will it be successful to build a location that does this? There’s a place in Costa Mesa, California that used to be the Grant Boys.

And Grant, you know, grants, grants for guns, all that stuff used to have the, you know, the sporty goods place. And that turned into a ghost kitchen place in Costa Mesa right there, right by the 55 freeway. So, you know, will that be successful? Who knows? Who knows? Yeah, I hate stuff being delivered to me. I will never forget sitting in a Thai food restaurant and one guy walked up and grabbed over a dozen deliveries for, you know, oh, I’m grabbing Stacy. John Peter McAllister Smith, you know, he was grabbing that and grabbed everybody. Well, he has to make, you know, over a dozen stops.

And my luck, I’ll be the last one. So, you know, let me know what you think about this. You know, and again, this Christmas, guys, is going to be different. It’s going to be a different Christmas. You want to do something nice for somebody, make it so that you don’t buy them anything. The best gifts are ones that are thoughtful. I’m telling you that. I love doing nice things for people. I love doing thoughtful things for people. You want to do somebody a favor, get them a job, introduce them to somebody they can’t get their hands on, you know, teach them how to work out, teach them how to cook, do something.

But this whole thing right now of, you know, buy now, pay later, don’t go into debt to buy me anything. Don’t. It’s ridiculous right now. It is utterly ridiculous. And the Christmas of buy now, pay later, you know, just it’s horrible to think about. And I’m so sad that people are in this. People are this tapped out. We don’t have the real estate numbers yet for this season. And they’re trying to make it sound like, oh, it’s fantastic. Houses are just moving. They’re not moving. You’ve got areas like Las Vegas. And by the way, two days ago in Las Vegas had a massive flood.

And I talked to my daughter who does a lot with Formula One. I was like, could you imagine that that flood happened during the race? That would be insane. I mean, would I love to see that? Yeah. But it would just be crazy. So a little bit more to cover. And again, let me know what you think about this stuff so far. You know, how far in debt will you go to get somebody a Christmas gift? Let us all know. Just a few things to finish this video. And don’t forget, we have a private channel called I allegedly live.

It’s all uncensored. And we have over 450 videos on that. And it’s growing big. I love it. Go to allegedly TV to sign up for that. Plus, don’t forget, I allegedly is on Spotify. I heart radio. And you can find us at the app store and places like that. It’s very cool. Let’s see a couple of things to finish this video. A mattress company out of Syracuse. 49 locations going bankrupt. Man, I’ve always never understood the mattress store thing. You need a mattress, go buy a mattress. But these stores, there’s a lot of speculation that these stores do nefarious things.

And there’s a lot of videos out there that talk about this. I get a kick out of that. The people think that these not this company, but companies have been using these to launder money and things like that. I get a kick out of that. Now, there’s a sporting goods store out of the UK or this that’s been in business almost 80 years. And they’re blaming tariffs and they’re blaming the fact that people aren’t going to be able to buy baseball bats and footballs and baseballs and everything. And they’re going to close down another 30 stores between now and 2026.

You’re going to see more and more of this, guys. This is the beginning of this. This is absolutely the beginning of this. One thing that has been happening, we talked about the problem with donations and donation sites. One thing that’s been happening in California and in New York is, you know, they have those bins like the Salvation Army bins where people dump their clothes in and they just donate clothes. Well, the homeless and people that are not from this country go in there and steal all the clothes. Some of them take the clothes and sell the clothes.

Some of them take it to wear it. So it’s not wild, guys. I mean, you know, you’re going to have to you have to monitor those now and have cops around those. So it’s terrible. Hit the like button. Subscribe to the channel. Don’t forget we have an email going out this week. If you don’t want to miss a huge announcement, come in and plus don’t forget we’re going to have our normal Christmas giveaway where I give out thousands of dollars for the stuff like I do every year. And it’s going to be very regulated and regimented.

And we’re going to give out cool, cool stuff that nobody else does. OK, so make sure on the email list because that’s who gets to find out about that first. OK, like, subscribe questions to tell what I allegedly dot com. But I’m telling you, do not borrow yourself out of debt. The one thing that you can look forward to is the fuse being lit on your life and on time. Time is short, guys, and everybody’s intentions are, oh, I’m going to pay for it later, Dan. Don’t worry. It’s going to be great. But if you do this, I’m telling you, you’ve got the bills to pay in January.

OK, I’ll see you soon. [tr:trw].

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