Hey, it’s Dan. Welcome back. This is I Allegedly. And, uh, wow, I’ve got a good one for you today because I am telling you, the car industry is off. Sales are off. You know, but when you go to this show, SEMA, S-E-M-A, man, you couldn’t tell. The accessories. This has the entire Las Vegas Convention Center. The whole place that it’s covered. And there’s a lot to cover today. We’re talking about the economy. We’re talking about mortgage applications being off. We’re talking about companies laying people off. It is absolutely crazy. So, like, subscribe, and today we have a sponsor, Patriot Gold.

But, uh, first things first, guys. Think about this one. Mortgage applications have dropped every week since the Fed lowered interest rates. Uh, half a percentage point. Okay? Well, shouldn’t they have just gone up and gone through the rough? You’d think so. Oh gosh, this is going to be the thing that’s going to turn around. Not even close. Not even a little. Okay? They’re off. Year over year, 40% from last year. 40%. Here’s the other troubling statistic is that, again, for the last six weeks, applications are down, down, down. Week after week. So, you know, Sabina, who’s, like I said, my go-to gal for mortgage information and things like that, she was talking about how right after the rate got cut, everybody wanted to refinance, and it was about a 10-day period where it was just busy.

And then it died. It died, died, died. But now, nobody is refinancing the house. And here’s the most disturbing part. For refinances, what is the dollar figure that people are refinancing right now? Okay? I’m going to get this thing for my house. A little cooler for the living room. Anyways, 300,000. It’s under 300,000 for the first time in a long time because people are not borrowing as much, spending less. I mean, it’s a bad sign, guys. It really, really is. And, you know, you’ve got all these companies that are laying people off. GoPro’s here at this event.

Now, GoPro is getting rid of 25% of its staff, and GoPro has a problem that they, the CEO of the company says it’s the same problem that you have at iPhone, and that is every year there’s a new iPhone app. And, you know, nobody wants to spend that kind of money year after year after year. So, you know, Shafler. Shafler is a European manufacturing, and again, the global problem is going to be announced. We’re going to see this come out. You all can’t have yesterday where the Dow goes up 1500 points in a day because of, you know, the election.

Okay? It’s not going to happen every day, guys. Plus, a lot of experts like Greg Manarino had things built into it. This is built into it, and he had the wrong prediction of who was going to win, but I love Greg. He’s a fantastic guy. But, Shafler, huge European conglomerate, they just said that they’re going to cut 4,700 jobs. Okay? You know, that’s only 3% of their workforce, but still, 4,700 people are going to lose their jobs. California, Amy’s, Kitchen, Natural Food Place, they’re cutting 475 jobs right now. That’s huge, guys. Now, I’ve always, you know, products good, but I’ve always thought it was too expensive, and they had strike problems and different employee problems that created issues.

But again, the issues with these companies are being brought to light right now. You’re going to see more and more places go out of business right now. It’s going to happen. Restaurants, you know, Harley Davidson. I’m sharing this one just because this is the problem that companies have. There’s a woman that had a Harley Davidson, and a part broke. It took one year to get the part for her. Couldn’t ride the motorcycle during that time. Larissa Schneiler. Now, Larissa’s problem is, that’s it. Plus, she started riding people at the, at Harley Davidson, including Jochen Skyler, whatever that guy is, the CEO of the company.

He didn’t respond. Nobody responded to her, but she had to wait a year to go out and get, to get her part for it. So, happening, guys. It’s just problems after problems with industrial companies. Look at this place, man. This is, this blows me away. Oh, hey, it’s a really big show. You’re going to really enjoy it. And you have no idea how big this place is. And then outside, they’ve got all the different cars and all the different tricked out trucks. I mean, it’s really, really cool. It’s just a cool, cool spot to come and check out.

And I’ll cover this. I’m going to be here for a few days. But, man, man, unbelievable. But you wouldn’t, you know, you wouldn’t think that there’s a problem with the economy when you see a, see a show like this. There are hundreds of thousands of people here. Just, just that simple. Every room is full. There’s a separate show with the auto parts and different accessories and things like that. A bunch of cool cars up here. I’ll show that stuff to you as well. There’s more to cover in the video. Let’s talk about our sponsor, Patriot Gold Group.

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Get yourself some gold and silver from number one Patriot Gold today. 888-330-1431. Contact them today. I love cool stuff like this. Look at this. A portable garage that inflates. Park your car, drive it right in. How cool is that, man? That is just so slick. Is this wild? Very, very cool. Really cool. Now, here is something familiar that you’re going to hear over and over and over again, and that is we may have to file bankruptcy. Have you ever been into a container store? I have, and it’s incredibly expensive. There’s one not far from my house, and I was at the Century City Mall about six months ago, and I was like, wow, this stuff is expensive, man.

It is outrageous what they get for this stuff. Basically, it’s like a large Tupperware store, and they have everything for you to put stuff in and store in your storage unit that you shouldn’t do before you sell it. Anyway, with that being said, the CEO steps forward and says that their last quarter, that the sales were off $10 million from $196 million, which I was shocked at, $196 million down to $186. Same store sales year over year are off 20%. 20% off right now. That’s nuts, guys. And they just don’t have it right now. We don’t see it getting better because of one big problem, and that everything costs more right now.

Everything is expensive. Everything is through the roof. Name it, it costs more. Product, you know, product to make the containers up, insurance up, employee costs up, everything is up for them. So retail, rent, so absolutely crazy, guys. Steven from the UK sent me a great story from Asda, which is a huge supermarket chain. And they’re doing two things. They’re laying off basically 25% of their office staff that’s management. And they’re making the management come into the office. So the days of you working on your computer from the house are done, completely finished right now. So again, you’re going to see this more and more and more right now.

This is people are just fed up with this. They, you know, get in here. You know, you know, it’s weird. As you think about what makes money right now, look at this show, look at this trade show. Okay. I mean, thousands of booths, you know, hundreds of millions of dollars in sales to get these booths here. I mean, the stuff outside when I show you the cars outside. It is crazy what was put into this thing. Okay, absolutely nuts. But someone’s making money doing this and people fight hand over fist to get to this event. So certain things are good.

How can you make money in a down economy? Think about it, guys. Container store is screwed because you know what? You can go to the dollar store and buy, you know, the knockoff Tupperware things, which is what I do. And when they get dirty or stank, guess what happens? They get thrown in the recycle bin. Oh, you know what I mean? That’s what most people are going to start doing now. They’re cutting back in every way, shape and form that they can. One thing that we have talked about in the last two years is industries that are having trouble.

Boating industry, people just aren’t buying the boats. All terrain vehicles, people aren’t buying those. They’re not going out camping, you know, campers themselves, motorcycles, all this stuff. There’s a new one right now, two new ones that are having trouble. And one of them is called a UTV, utility task vehicle, you know, industrial, you know, jeeps and things like that that they use. Trailers, things like that that they pull for like events like this and for your farm and things like that. They’re not selling right now. One is snowmobiles. This is the beginning of the winter season, the beginning of it right now.

Let’s get your snowmobiles. Nobody’s buying them, guys. Not reserving sales are off an absolute ton right now. And you’re going to see this as a bigger problem. This is going to unfold this year. And you could see places like Polaris. Polaris says that they’re having real, real trouble and that they could go out of business. So it’ll be interesting. Going to see mergers, going to see real problems that are going to happen. Harbor Freight, guys, look at that thing over there. The other thing is this is a trend that’s happening in retail. Think about this, the microphone that I’m using right now, I bought on Amazon.

Isn’t that great? The only problem was I go and get it last week and the box was empty. Now, you guys, I cannot tell you. I buy so many of these things. Throw it in my suitcase, travel, I open it up when I need it, keep an extra one in the car, but I was down in my last one. I open up the box, it’s empty. I’m like, oh crap, uh oh. So it was shipped to me and nothing was in it, which was funny. And I had to, you know, my girlfriend showed me this is how you do the return, this is how you take, you print the label and all this stuff.

It was wild, absolutely wild. What is happening right now that you’re seeing at a record pace is you’re seeing returns that don’t require you to send the product back. And you’re seeing more and more and more retailers that do this. It’s unadvertised. They don’t want you to know that they’re doing this, but man oh man, they are doing this at a record pace right now. Think about this. What do they call this? Offer returnless, returnless refunds. Don’t send it to us. We’ll just give you your money back. How is that a good business model? When my late girlfriend was alive and she would buy too much stuff on Wayfair and things like that, they would do that all the time with her.

And I was just blown away. They don’t want it back? Yeah, it’s the wrong color. They don’t want me to send it back. They’re just going to ship you into it. No. And I’d read the emails and I’d be blown away that that’s what they did. Isn’t that nuts? So this is happening more and more and more. A lot of the unscrupulous scumbags out there that are going to take advantage of this? Of course. Absolutely. But what they’re going to do is they’re going to have your name on a list and it’s going to be on your permanent record, just like in high school.

Remember they used to threaten us with that? This is going on your permanent record. Has anybody ever seen their permanent record? Wouldn’t that be awesome? Uh-oh. Dan was a real problem. This is on his permanent record. So anyways, let me know if you’ve seen yours, okay? I’m going to finish this video with the last few things. First things first, guys, don’t forget we have a private channel where we can talk about things uncensored. And you don’t want to miss it. You know, one thing that’s funny is with the election, I had people write me and say, how dare I post my last video where I’m talking about unity and people coming together.

Don’t do that, Dan. You lost a subscriber by doing this. Oh, okay. Bye. See ya. Okay. Anyways, iallegedly.tv is the name of it. The Bay Area Transit Department is raising their tolls. Why is this relevant? Because if you can’t make money, what do you do? You just raise your prices. Now, one thing that we have seen is another bankruptcy just got announced and that’s the franchise group. Now, who’s that, Dan? 1,600 stores are down for the count. 1,600. Now, here’s where you’re going to know who they are. They’re Wayfair’s biggest competitor and they’re closing down their American Freight.

They’re a vitamin shop. They have 700 vitamin shop stores. Done. Done, done, done. Pet Supplies Plus plus a pet wash place. 1,600 locations. 7,000 employees. 7,000 people that are at risk of losing their jobs right now. Okay? Again, unbelievable, guys. Absolutely unbelievable. Hit the like button. Subscribe to the channel. Let me know what you guys want to see. And if you want to get ahold of me, hello at iallegedly.com. I’ll see you guys real soon. Okay? Don’t forget to subscribe. Okay? Thanks. Thank you. [tr:trw].

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