Fenway Park and a Bad Economy

➡ Dan, the host of I Allegedly, shares his experiences at Fenway Park and discusses various economic issues. He talks about the Biden administration’s chief economic advisor’s misunderstanding of money creation and inflation. He also mentions Walmart’s strategy to attract wealthier customers and the closure of some stores. Dan highlights the potential downfall of 50 banks in the U.S. due to lack of profitability and the global financial crisis. He ends by discussing the high cost of travel and the problems with going paperless.
➡ The article discusses rising insurance rates and property taxes, job layoffs in various sectors, and the closure of businesses like the Mirage Hotel in Vegas. It also mentions the potential for a central bank digital currency, with Visa planning to allow access to all cards from one app. The author advises avoiding debt and investing in gold, while criticizing New York City’s expensive solution to a rat problem.

Hey, it’s Dan. Welcome back. You’re watching I Allegedly, and I have a good one for you today because we’re going to cover a lot in the news, but I am at Fenway Park in Boston, Massachusetts for my son’s graduation, and this place is frickin’ awesome, man. If you like sports, if you like baseball, this is just so cool. There is a lot to cover today. Please don’t forget to hit the like button. Please don’t forget to subscribe to the channel, and today we have a sponsor, and I will get into them a little later, but let’s check this place out.

Let’s cover everything. Now, Fenway Park was absolutely amazing, and I’m going to throw some of the images of that experience in this video, certain parts of it, but there’s a lot to cover. First thing I want to cover, kind of out of order, is there’s a man named Jared Bernstein, who made himself famous about a week and a half ago when he couldn’t understand how money was created. He couldn’t understand the money supply, and this man is the Biden administration’s chief economic advisor, and Jared Bernstein was on Neil Cavuto’s show this week. Neil Cavuto, I think, I really don’t even like the guy, but Neil Cavuto said, hey, why are you saying that inflation was at 9% when you got into office in 2021? It’s not true.

Well, we’re just saying it was high, and there were things that were done to us in advance that made it high. The guy couldn’t even admit that inflation was at 1.4% when they got into office and that spent their way to oblivion and gave the junky money and just printed it out of thin air. By the way, I am in Rhode Island right now, guys, okay, for my son’s graduation, and it is insane, okay, that this guy did this. Now, a couple things. Walmart are saying that they had record profits, but there’s kind of two areas to this story.

First thing is that they’re closing certain stores that are nonproductive, and with the dollar stores going down and other stores going down, you’re going to see more Walmarts close. In fact, there’s eight more scheduled to be closed, you know, in the New York area right now. That’s a big deal, but Walmart is making the claim that they want to lure more rich people. They’re saying that they’re making more money because wealthier people are coming to shop at Walmart, and the demographics point to the fact that they have more money, okay, and that the higher end clientele are purchasing more things at Walmart.

Walking through these woods out here is very cool. I mean, it just really just goes on forever out here. But needless to say, the Walmart thing is, you know, I don’t think it’s just rich people decided to shop there. They don’t have a choice. When you have the dollar trees, you know, decimated and closed, and I went back about a week and a half ago, let’s just see what’s left over. Nothing was left over, guys. They just pilfered it. All the good merchandise got shipped to other stores and sold off. Here’s the thing about this. This is the sick part about the dollar store.

You’re going to see things that were 99 cents and $1.25 a month ago, that’ll be sold at different places for $2.99. So that’s going to happen. Lucky us. So that’s one thing that you’re going to see with this, you know, ridiculous inflationary spike that we’re all dealing with right now. Now, here’s a problem that is happening globally, and that’s banking. And we talk about banking a lot. Nomura is an analyst, and their chief analyst, Greg Hertich, said, hey, listen, you’re going to see 50 banks go down. He said this Tuesday of this week, 50 banks could go down in the United States.

And the reason is profitability. These banks are not making money. Higher interest rates are squeezing profits, and they’re not making money right now. And this is going to be a big problem. Stephen from the UK sent me a great story out of the sun about how there are 600 branches of banks that have closed over the last 10 years. And in the last decade, you’re starting to see this happen more and more and more. This is a trend that is not going to slow down. It’s going to get worse. And you know, you can sit there and say, oh, everything’s going to be fine once they start lowering interest rates.

When? When is this going to happen? When are businesses going to become more profitable? As I’m here in the Boston area, I could bore you with things like, you know, closed businesses and closed restaurants. People do not have the money right now. You know, McDonald’s is going to have this $5 meal for 30 days. And only because they got kicked in money from an advertiser that gave them a, you know, a grant basically to help them subsidize the price because they’re not going to make money at $5. So they’re going to do it for 30 days.

Thank you. Thank you so much. OK, so you’re going to see more problems, guys. And this is a global problem. This is a global financial mess that we’re in. And people don’t want to look at that. You know, so a lot of different, you know, household debt, household delinquencies. We’ve talked so much about that over the course of the last month and a half. You know, one in five are maxed out. People have the credit card debts. But people are just still borrowing and have payments for things that they cannot afford. They cannot afford their cars.

They cannot afford, you know, everything that they’re doing. And again, travel. I mean, guys, it is a bloody fortune to go to a hotel right now. There’s no discounts. And when you fly, OK, when I was a kid, it was such a great experience. They gave us nothing flying across the country from Los Angeles to Boston. I got a cookie. Can I have a second cookie because I realize I didn’t eat. Let me think. Yeah, I’ll give you that second cookie, sir. OK, that bad. Well, do you guys have anything we can buy? Do you have any of those, you know, chip things with the with the bad lunch meat or the cheese? No, we don’t do that anymore.

OK, OK. So awful, guys. Absolutely awful. And you wonder why so many people don’t want to travel and can’t afford it. And like Bob Kudler talked about the extras, all the extras. OK, I would pay more. And it’s funny, when I got in the plane, I asked, listen, do you want to know how I want my steak prepared? Yeah, what’s the fish? They didn’t like the second joke. Anyways, OK, you get the idea, guys. Look at this guy. Only at Fenway Park. Clam Shouter and you see. Lori sent me a great story. She got a letter from St.

Coney Bank and I’ll show you the image. Listen, you listen, you pay a dollar ninety nine. And we want you to go paperless. I’m telling you guys, more people have problems with paperless issues. Try to get, you know, your credit card set up so that when you have charges made, it sends you a text message. I get people that say, oh, it’s so annoying. Let me give you something that wasn’t so annoying. My son went to pay for parking and there was a dispute and it got resolved immediately because they charged in the wrong amount for the parking.

But we’re just some hillbillies out of, you know, from out of state. And guess what? It got it got fixed right away because I got the text message that I would have found out when I was in California and not at Boston. Oh, did we do that? Yeah, you did. Oh, let me credit it. Here’s the credit. OK, you know, it happens all the time, guys. Check it out. Make sure you’re on top of this stuff. You know, you’re going to see a glut of real estate. And I’ve had so many people walk up to people that recognize me at the airport, people that recognize me at the Boston Red Sox game.

And they were like, wow, this is going to be a problem with these assessments and what they’re worried about, like in Boston with these buildings, they’re worried about there’s going to be more and more assessments like they have in Florida. Now, think about this. When the Champlain condos collapse in 2021, they need everything safe, which makes total sense, guys. You need to have these buildings safe and they’re older and you don’t need these problems. But what happens is people are on a fixed income and they buy a condo and they get their payment and they’re just set.

And now they say, OK, Marge, you need a hundred thousand dollars to be compliant and pay your share of what the building needs to get retrofitted and fixed. People are unloading these places. Now, the problem with it is that some of these places are still selling high. People are trying to get top dollar for them and they’re sitting on the market longer. This is happening now around the country because a bad idea travels real fast. And what happens is in Boston, I had people telling me, you know, my condos, they want they want us to pay more.

The insurance is going through the roof. Everything is sky high right now. And this is happening everywhere right now. So you’re going to see more and more insurance companies raise their rates. That’s going to affect people blindly. When you buy a new house, you need to make sure you know what the property taxes are going to be when you buy that. And if it’s if the property taxes were based on raw land, make sure you know what happens when there’s a building on top of that. What is my payment going to be? Oh, don’t worry about that.

It’s not going to go up much. Well, it’s not much, guys. How about the exact figure? And you need to know what that is right now. Okay. Spirit Aero Systems just confirmed that they’re going to lay off people in Wichita, Kansas, you know, a couple hundred people. Again, a big deal. I was at a YouTube party this week with a bunch of YouTubers and it was very nice. And hey, if you ever come back to Vegas, we got to go here. We got to go there. And then the next day, the Mirage Hotel announced that they are closing in two months.

And, you know, over a thousand people are going to lose their job. So again, they’re not making money. Not everybody’s making money and it’s not working. So the Mirage sold a few years back. And remember, it opened in the late. It opened in 1987. Steve Wynn was the original owner. It was eight hundred million dollars when they built that place. It needed a million dollars a day just to break even in sales. And it did. It did great. It was the mega place. If you’ve ever been to Vegas, you’ve seen the volcanoes. It’s a beautiful spot to go hang out at.

And they’re done, too. So you’re going to see the Mirage done. Who’s next? Who’s going down next? And again, this is not just negativity. This is to get your finances in order. We saw Silver this week go above thirty one dollars. Okay. Do you guys call Patriot Gold any time soon? You should. Okay. Get yourself some medals, guys, if you don’t have medals. Okay. So what else? You know, in addition to all these restaurants going out of business, you know, Red Lobster and things like that, they say Cracker Barrels next. Next time I’m in Vegas, there’s a Cracker Barrel right next to the Bass Pro Shop.

I should go there and eat for you guys and hang out. But what else? What else? What else? A couple of things that are just lunacy. Susie Orman, who I really like. Okay. She gives really good, solid financial advice. And Susie’s sitting there saying, hey, there’s the hotel up there. Susie’s sitting there saying, hey, you, you know, need to retire with two to five million dollars. Don’t think of retiring with anything else. Who’s got that? Now, this is so contradictory to anything that she’s told us in the past because everything has always been, hey, don’t worry about it.

Everything’s going to be great. Just save your money. You know, but now you need two million dollars to put your head in the pillow as a senior. Okay. So get ready. Get ready. So you don’t have enough money. You don’t have enough savings. Debt is your cancer right now. You want to stay away from this stuff right now and make sure that you are nowhere near any debt right now. That is critical for you in the future. So, you know, it’s been very, weather’s been good. It rained a bunch before we got here, so everything’s all clean and nice.

But people are great. Everybody’s fun. Just really great experience walking through that stadium and just being part of baseball. Whatever you’re into, guys, when you have a community like that where you have baseball and after the game, everybody’s out going to restaurants and having a good time. It was just really, really fun. My daughter was like, I’m done. I’m going back to the hotel and my son and I, we’re just walking around and just, you know, soaking up the environment because it is just, Boston is a great sports town and it’s very fun and people were great and you just couldn’t get enough.

So let me know if you’ve ever done that. You know, I heard the Chicago Cubs is like that. I’d like to see that because I have a cousin who is their biggest fan and he’s always going there. So let me know who you’d recommend seeing. Just a few more stories to finish this video, quick video today. Biomeran Pharmaceuticals out of the San Rafael area just filed with the Securities Exchange Commission. 170 employees are done. And once again, guys, if you invest in these companies, pay attention to this stuff. Pharmaceuticals, you know, do, you know, it takes years to get this stuff to market.

This company was considered successful, was considered a darling, but 170 people are going to, you know, lose their job right now in the next 60 days. That is horrific. In Canada, on East 20th Street, there’s such a problem with crime that you’re going to start seeing this more. Hey, we’re not going to risk the lives of our letter carriers and you’re going to have to come get your own mail. They gave us streets. Well, you’re going to start seeing that more and more. And here in the States, you’re going to start seeing that. Now, here is the next step to central bank digital currency.

And I’ve covered a lot of different stuff all over the map in this video today. But Visa had a Visa conference this week. And at their Visa conference, they announced that if you have multiple Visa cards, like I’ve got multiple credit cards, guys, from different places. But if you have Visa and MasterCard, especially Visa is going to start this. You’re going to be able to log into one account, make payments, and access all the cards on one app. OK, this is the beginning of the central bank digital currency that they want. So you’re going to be able to have all your accounts wrapped together right now.

I’m telling you, your privacy will be shut off. You don’t want your credit cards linked. You don’t. Think about this. You go out, hey, Dan, what are you doing in Boston? What are you buying in Boston Red Sox merchandise? And now you’re in Rhode Island. What are you doing there? OK. And so your Visas are buying gas at a gas station in Boston. And then now we’re just going to shut off all your cards because they’re going to be linked, guys. Your cards are going to be linked, and this is going to be the kiss of death and the end for you.

Now, final story, which is New York City, who’s run by a den of idiots. And again, you voted for these people, and they’re stupid. You know what they did? They have a rat problem. So you know what they have now? They have trash cans that cost millions of dollars. Millions of dollars. And you know what? They’re in the shape of a pizza box. So you can slide your pizza boxes in the trash cans so the rats won’t get them. What a novel idea. What a stupid idea. How about clean up the trash, guys? How about make people pick up after themselves? How about, you know, crime? You know, littering’s a crime.

OK? How about that? OK? How about that? So, you know, you can’t make this stuff up. The stories are below in all this stuff, guys, that I talked about. So please, don’t forget to hit the like button. Please don’t forget to subscribe to the channel. And onward up. You know, I didn’t even mention the sponsor today. And you know what? There’s no sponsor now. So you were teased. Sponsor, no sponsor. Anyways, you got one without a sponsor. OK? Like, subscribe. You want to get a hold of me? Hello at iAllegedly.com. And believe it or not, my son will be a college graduate in the next 24 hours.

OK? I’ll see you guys. We still don’t believe it. Anyways, I’ll see you very soon. OK? Boston. First Boston Red Sox game. But check these seats out, guys. Is that? That’s incredible. Thank you. [tr:trw].

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