Hey it’s Dan, welcome back to I Allegedly. I’ve got a good one for you today because there’s just more proof week after week after week that the economy is broken and that companies are going out of business at a record pace that are not supposed to be going out of business right now. So hit the like button, please subscribe to the channel, join our email list because we have a massive email going out this week that I cannot wait to share with you and let’s get right into it. You know we talk a lot about the auto industry and last month we had a major bankruptcy with a company called Tricolor.

Tricolor was a subprime lender that let people money that had basically low credit scores and they went down for the count but when it was announced how they lent this money and who they lent this money to it is insane. Jamie Dimon admitted this week that one of his worst moments at running the bank was the Tricolor experience. It wasn’t one of our finest hours because they’re going to take a hundred and seventy million dollar hit a hundred and seventy million dollars because they lent people money that didn’t have jobs that were not you know citizens that didn’t have bank accounts okay and now they can’t find the cars and they have to write up a hundred and seventy million dollars.

Well there is another company called Prima Land. Prima Land is another subprime lender. They lend money on cars that are are just with people with horrible credit. They’re in so much trouble today that their bonds are not due until 2028 three years from this week and what they’re doing right now is they’re making their have their lenders talking to their attorneys to say listen we want to avoid bankruptcy and we want to work out a payment plan now. The bonds are doing three years guys but they’re not going to make payments on this because they’re going to file bankruptcy eminently okay so there’s another huge lender so who else is going to take a hit from this that’ll get exposed shortly.

One thing that we have to look at right now which is insane is that if the first of the year you had just over 1% of the people that were 30 days late in their loans 1% that’s it on their auto loans right now it is 8% 8% of the people are 30 days behind on making a payment on their auto loan 8% so when you drive down the freeway 1 in 12 people are not making the payment on time 1 in 12 that is nuts guys that is nuts now it gets worse because when you go to 60 days it goes up to think about this or too many payments behind it was just over 1% at the beginning of the year it’s at 6.5 6% right now and I just love this data it just

comes out and you get it and you how do you deny this stuff you know you don’t you can’t so it’s a problem people are not paying they’re making their payments now the kiss of death think about this one another 5% of the people 4.99% are 30 are three payments behind 90 days late it means they are actively looking for the car repoville no matter who your lender is right now so that is horrific guys that’s the end this is the end right now now I have a friend of mine who reached out this week and she says are you good at buying cars and I’m like yeah you know all I love it I’ll go torture those guys with you well tell me how you would

do it so we sat down and showed her on a piece of paper you know your down payment payment the terms things like that I’m a guy that likes to see people finance things for 36 months because they’re regardless of what you buy you should still have equity in the car if there’s an accident if you trade it in whatever but can you live with that high payment oh let me think about that let me look at this so she found a car and started to go and negotiate herself and listen you know I’m my friend that wants to come in and help me but I think I can do this they gave her $18,000 off the car she got the payment exactly this is what I want

to pay and wrote it on a piece of paper and slid it across the desk not a dollar more a month and those are the terms those are the monthly terms I want to put X amount down and that’s it that’s it okay no we can’t do that have a nice day she left got into her car one time which nobody wants to do that hey listen we thought you were gonna buy a car today what is this you’re gonna play games with us we thought you were serious I was serious and then you guys you know what cuz I because I’m a woman is that why you’re doing this she pulled that card which was great and came back came back and come back inside and you can talk to the manager blah blah blah an hour and a half later which again is total shenanigans BS guys do the helicopter coming across so total shenanigans and she got what you wanted and you know what listen I’ve got a rental car with me right now I’m gonna go home you guys need to deliver the car sure we’ll

deliver the car tomorrow with the tank of gas oh and the other thing she had them throw in the extended warranty so for use people out there that are like there’s no deals they don’t do stuff like that you’re you’re kidding yourself because she did it and it was like you want me to call my fish I call my friend and get him down here should I do that should I do that because I feel he said he dropped what he was doing to get here and I was nowhere near to be found but you know what it did it worked and again the only thing in our lives that we buy you go buy a dresser you go buy a mattress and it’s not a negotiation like it is when you

buy a car it is complete and utter BS okay now one more thing to add to this is since October 1st it is the middle of October right now there have been three major chapter 11 bankruptcies it is the bankruptcy finance leaving over 1,000 people out of work that are working for trucking companies that ship things you know across the country and it doesn’t matter what they ship because everything is off logistics is off people that go out and sell things to Home Depot Amazon FedEx everything are off right now and you’ve got you know major filings the first two came in the first week second two came this week the key takeaways to

this is that the sector showing concrete signs the stories below so you can read which companies they are and I won’t bore you with them because you won’t know the new event you know but we’ve got two dual frontiers of stress you’ve got stress on the consumer you’ve got stress in the businesses this is an economic shutdown this is an economic collapse that we are all living through right now and the bankruptcies of these shippers is is a problem think about this how many is this it has to be a couple dozen now that have gone out of business this year and this is just the beginning of it you’re gonna see more companies

go out of business between now and Christmas Merry Christmas to you okay you’ll see now I want to remind you guys we have the private channel called I allegedly live and you sign up at I allegedly TV it’s everything that’s too hot to talk about other places I just filmed down at the no Kings protest which with all the signs and everything people wrote and said you could not show that in the public forum so check that out today I allegedly TV is where you sign up for that next thing is you know as finances you know are getting more and more difficult and things are getting tighter and tighter for people one thing that’s happening is

the repossessions are going through the roof right now for the first time they’re not letting people make deals they are getting the cars right now I’m at the no Kings protest in Huntington Beach California and this is a hot infested smelly event it’s crazy so you know what I mean so this is not it goes down about a quarter mile that way about a quarter mile this way they were passing out signs you know 30 minutes ago for everybody and totally effective guys totally effective Wow I got the socialist party here yelling you know that we all need free dentistry and free medical care what do you which is crazy but a few things to finish

this video think about this guys you’ve got Ford is going to have another six hundred and twenty five thousand vehicles recalled because of their seat belts six hundred and twenty five thousand cars guys this is not an old recall this is brand new came out yesterday isn’t that nice guys I mean if you drive a Ford car you should take it to the dealership and leave it there and tell people you know fix it just call me when it’s done at this point there’s one for you that’s horrible Skydance media and Paramount you know they merged in August and they’ve got an exciting announcement for everybody and that is that 2,000 of their employees 2,000 are going to lose their jobs lose their jobs by Halloween okay happy Halloween guys 2,000 of you will be looking for a job for the Thanksgiving season that is horrific guys that’s just awful that’s just awful so that’s that couple final things Mark Benioff is the CEO of Salesforce and they have a conference every

year called Dreamforce it is literally the largest conference in San Francisco but I know people that won’t go to that because it is a hellhole in San Francisco Mark Benioff says we need to clean up San Francisco I welcome Donald Trump coming here and doing whatever he’s got to do well his buddies got together and said you can’t say that can’t get this guy’s help and have him clean things up no you know so what he did was he apologized he says he didn’t want to say that that was a terrible thing to say and he wants to withdraw that okay enjoy the hellhole see it Dreamforce next year oh wait I won’t go to that ever because of

how bad it is there final final thing is governor Fatsker or Pritzker as you call him he says on his tax return once they got released it was it was noted that there was 1.4 million dollars one at the casino from Las Vegas doesn’t say which one just gambling winnings now here’s the problem 1.4 million dollars for playing cards I’m lucky I play cards okay there is no film there is no there is no casino of record there’s nobody that can say that they saw this guy gamble sounds like something else to me what does it sound like to you guys share it in the comments and let me know do you think governor Fatsker gambled and won 1.4

million dollars in the Las Vegas casino now here’s the thing guys if you win over $1,200 right now in a casino they give you a 1099 and it comes from the casino Dana white gets a stack of them for the stuff he does and you know about that you hear about he talks about it well governor Pritzker is trying to say that hey listen just I like playing cards and I like to keep it quiet nobody believes them I don’t believe them let me know what you think hit the like button subscribe to the channel and I will see you very soon okay remember the email address is hello at I allegedly calm okay let’s go down to the protest again protest is already

dissipating right now guys because everybody’s getting tired they are running I guess
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