Summary
➡ The text discusses issues of fraudulent activity related to financial support during COVID-19, where individuals misused funds for personal benefits instead of business purposes, leading to the government trying to retrieve this money. It further explores changes in the housing market, with rent prices falling in some areas, and touches on a growing concern with EIDL loans that could lead to further problems. Lastly, it scrutinizes the rise and fall of SPACs, drawing attention to the failures of twenty-one companies that went bankrupt in 2023, resulting in a loss of $46 billion.
➡ As insurance rates surge up to 20%, especially with State Farm, newly acquired homeowners are struggling to cover costs, and water companies are driving up prices. Simultaneously, countries are grappled with financial instabilities, with Argentina firing 5000 government workers and global beer sales seeing a reduction by 25%. Lastly, the world’s richest woman, Francois Bettencourt’s net worth has just crossed $100 billion.
Transcript
The email list will be the top link. Link below. Now, let’s get right into it. We have heard about these threats in different areas that have had these potential speed cameras and different cameras for a while now. But California is going to be at the forefront of this. Governor Haregel, he went out and signed a law. Governor Haregel is going to be your democratic nominee for president shortly, which I love because he did stuff like this.
And then he’s going to have to answer that when he becomes your democratic nominee. Anyways, he signed, I think it’s AB 435. And what that does is it makes speed cameras legal around the state. And what they’re doing is they’re going to say things like, this is in an area that is dangerous. So we’re going to start with Los Angeles. We’re going to go to Glendale, which I didn’t know Glendale was dangerous.
Okay. And Long beach. Now what they’re going to do is install these cameras and give, starting at $50 for a fine. Now, initially, you could get a warning, but it doesn’t work that way. And here’s the thing about this. When you have these speed cameras in places, what it does is it just records your license plate and sends the driver a ticket. Okay? So if your idiot nephew’s driving your car going too fast.
Marge, you got a ticket. I didn’t know you were speeding. You know what I mean? You’re going to have problems like this, and it’s going to happen over and over and over again. But remember this, it’s a pilot program. Whenever you hear that, it’s a pilot program. There is no such thing. This is the implementation to have it be ran everywhere. We just heard about New York City that has the new congestion tax because they installed cameras.
And when it’s too congested, they’re going to charge you a fee to go in and out of the city. It’s insane. It’s absolutely insane. Do you think that they’re going to get rid of that soon? Of course not. All these municipalities need money. They don’t know how to be a better business, so they just tax everybody. And the next thing to do is tax people with speeding. So you’re going to see this, and this is going to be a huge problem, guys, because it’s going to make people have fines that they never dreamed of.
It’s going to make people lose their driver’s license. It’s going to make people that are working, let’s say you’re a little late and you got to get that delivery in on time. Hey, man, you were driving that truck. You’re fired. You’re going to see this. It’s going to happen over and over again. Now people are going to say, dan, if you obeyed the laws, you wouldn’t have a problem.
Okay? Have you ever know an illegal turn? Have you ever done a little speeding? Right? Okay. Anyways, my favorite story I have two of them, was there is a car rental company in the south that had a massive lawsuit that we talked about a year ago. And what they did was they installed a speed reader in the car that would sit there and it was basically a meter that would tell the car company if you drove the car too fast and it would fine the owner of the car and it was tied to your debit card and people would get fined for having that.
Is that would also, they also had the ability, if you didn’t make the payment, to just shut the car off. Click, click and shut the car off. Kind of like your Tesla is going to be. They’re just going to be able to shut it off when they want. But the worst story I heard about was a couple rents the car from hillbilly car rental, okay, in the south.
And hillbilly is a nice bunch of good old boys. But what they did was when they took the debit card from these newlyweds as they were going to their honeymoon, they drove and the groom tv was driving a little fast because he wanted to anyways have dinner. Okay, so a couple of times, every time you would go over the speed limit, it would charge these people $85. So they get back to the hotel, they get checked into the hotel and they couldn’t buy anything after that because all their money was gone because everything was charged from this.
So people are going to wake up with these speed cameras and you’re going to see massive fines, unbelievable fines like you’ve never seen before. So, hey, man, there’s a warning letter that goes out the first time. Dan, wait a second. Do you know that here in California, you know when you have a high speed chase, which I love. If I could see a high speed chase every day, I would just live for that.
I think that they’re the greatest things. I just, I watch these and the cops and they get the know patrol and they get the highway patrol that passes off to the different cities. It’s just great, Mr. Goose. Okay. Do you know what I mean? It’s just fantastic. Do you know here in California, once the cameras go on and the news coverage starts, that they keep track of all the infractions? So when Johnny gets tackled by the cops and they bring him in, they say you violated 74 traffic violations.
Whoa. You sped nine times, did those illegal turns, you ran those stop signs six times and they add them all up. You don’t think they’re going to do that with this? They’re going to do that and sit in the convenience of their office and send you a bill. That’s what’s going to happen. So get ready for big brother. But hey, it’s a pilot program. Sure it is. It’s a pilot light that they’re going to light all over the state.
But this is going to come to a theater near you. I drove with a guy to Texas a couple of years ago and he routinely went over 100 miles an hour in the middle of nowhere. Okay. Wow, Dan, that’s illegal. You should have gotten arrested. That’s against the law. What’s going to happen when you have these street racers out there, okay, and they are ripping through everything and they’re driving and we can hear them know, in Orange county, you get areas like this outside of Irvine between here and Tustin, where they race around the marine base that just burnt down.
What’s going to happen with that? Because what they’ll do is they’ll install those cameras there and they’ll just start sending people tickets. So mark my words on this. Are you for this? Are you against this? I think this is, again, one less freedom that we have and it’s going to be a big problem. So let me know what you think about this. Now, one thing that was sent to me out of Canada, and I want you to think about this, there is a company called Ideal Construction that was selling a condo project.
They went out and took deposits from people. But here’s the thing, they just had the land. They didn’t build one thing. Not only that, they were not even licensed in the municipalities they were working in to even sell real estate. So how often is this going to happen now? How many times is this going to happen where you’re going to have people that gave people a deposit of $150,000? A lot of money and they got nothing.
They got nothing and nothing happened. And you know what? They finally got sued by the housing authority. The story is below. The housing authority in Canada sued them. And we did the best we could to get this money and we collected $180,000 that we’re going to refund to the people that had deposits. Think about this. They took in $5. 7 million in deposits, fleeced people, okay? And they’re going to get 180 grand back, not a piece total to divide up.
We did such a good job and these people are patting themselves in the back, but you’re going to see more and more of this. Now, the other thing is, we’ve talked about PPP and Eidl loans, economic injury disaster loans. This channel was started to get people this money. And let’s face it, there were three types of people that got this money. There were honest people that got these loans, helped their employees out, stayed in business and did what they were supposed to do with it, okay? They really did.
And the workers benefited from it. There are other people that went out there and just didn’t care. Okay, whatever. I know a nurse who the doctors that she worked for, works for. Still to this day. These idiots got millions of dollars. And you know what she got as her injury pay? No bonuses, nothing. They got free Starbucks. Okay? They got millions. By the way, one of the idiots dating a 26 year old, going to Mexico with her and living on your and mine’s millions of dollars.
Okay? So people that just squandered the money and kept it for themselves, and then you had the criminals, the criminals are out there that just took this money and didn’t do anything with it, okay? Bought things they weren’t supposed to buy. Now businesses go out of business all the time. Things happen. Economies change, divorce, just climate change. Everything that can happen with a business, and I mean like your environment around the city can change.
Okay? So things can happen inside of a business. But what these people did, some of them is so criminal. There is a great story out of the Washington Post, of all places how the government is going to claw this money back. And you people have written, I have people that you can tell, hey, dan, what should I do? Because my business went out of business and it was my wife and I and blah, blah, blah.
And you can tell it was just an honest. They went down for the count guys. It wasn’t nothing. Know, keep your records. Make sure you show where you spent the money and that it was nothing nefarious, that you’re not driving a new Ferrari. Now, there are jewelry stores out there that I know of that went out, and the guy owner bought a Ferrari with the car. Isn’t that great? And then there’s three people have reported to me, and on Christmas day, somebody brought this up to me.
There is a coffee shop locally that said they had 61 employees and got like $400,000. Okay, well, they don’t have 61 employees. So the government now is going back to get this money. So if you got this money and you don’t have it, and you don’t have good records, you have a big problem, a massive problem. Because when the Washington Post starts writing about this, you’re going to see this where they’re going to make collections, and they’re going after $30 billion of your money, my money, our money.
Okay? So these people that did this have got nothing but a problem waiting for them. So I get some people that are like, can’t get blood from a rock, Dan. Well, that’s great. That’s one way to look at it. But the point is that you should have a reason as to why you went out of business. There has to be. You just can’t sit there and say this, okay? The next thing is renters.
Okay? Renters are catching up with homebuyers are talking about. And one thing that my friend Michael did, michael was a real estate agent. Michael was very brilliant. Still is. He’s in business still. Michael deals with problems in real estate where people have an issue. Grandma dies, you got to sell the house. You have three partners that own a fourplex. And somebody’s getting divorced. He’s got to get out of it, and you’ve got to sell the place to make this guy whole so he can get divorced.
Things like that. Michael deals with distressed properties. Michael has done this for 35 years and knows the industry in and out. And one thing that Michael told me is, Dan, when you start to see renting incentives that are free rent and major discounts in areas that you don’t normally see, that’s when you’re going to see the real estate market turn. Now, that’s what we’re seeing right now. Tustin, California, driving through, hey, move in special, $199 to move into an apartment.
I’m like, wait, that’s crazy. Okay, so this is the beginning of this. There’s a great article below talking about how there’s such a disparity and how rents are starting to go down and starting to catch up now, again, guys, just because they say, hey, the rent is x, you can make offers on that. You can tell them, hey, listen, this is what we can afford and this is what we want to do.
You know, if you’re a good tenant or not a bad tenant, you know, if you’ve had problems or not, you can lie to me all you want and tell me how great you are. But if you have job problems or money problems or you can’t verify your income, got a problem. So the normal people out there that have a job and are just going to relocate and things like that, or they’re getting divorced or whatever, you’re going to start to see major incentives.
But again, research the properties. My last video on Balboa Island, I was walking and I’m going through the Grand Canal and there was a rental there. I’m like, this place is for rental? That’s nice. Must be just a vacation. Weekly rental. No, it’s a full time. Rent it for a year. I’m like, wow, that’s crazy. Let’s go look what this place is. I pulled it up on Zillow, and it was $11,500 a month to live on that grand canal.
And I’m like, wow, that’s a lot of money. Okay. But hey, listen, first month rent is only 10,000 and the deposit is only 10,000. And I’m like, well, this kind of goes to the desperation phase. But I got to be honest with you. If you’re going to rent an $11,500 a month house, how do you feel about a discount where you’re getting that $1,500 off? Does that do anything for you? Because I don’t think it’s enough.
I think it’s light, to be honest with you, to say the least. So let me know what you think about this so far. And are you seeing this in your neighborhood? And the other thing about the EIDl loans and that this has not been published yet, but I’ve heard it from people with different agencies and things like that that I’ve dealt with in the past. They may go to an incentive based program, which would be catastrophic for this program, because think about this, an election year, and you have people that could turn people in for these loans that they think are bad.
Think about the people that work for somebody. Think about the nurse that knows that the doctors didn’t give them anything. How would you like to turn them in, get a commission if they did anything nefarious? If they do this, all hell will break loose with this because they’re talking about this. That is not in place yet. I’m just telling you, if this goes down, you’re going to see pandemonium with these loans because people work for people and hate people.
He yelled at me. He did this. And I know he got that money, and I’m going to make sure he pays. What’s going to happen with people that are not bad people? But you got the employees that think you’re a bad person. You know what I mean? You’re going to have nothing but problems on your hands with this stuff. So let me know what you think about this so far, because you haven’t seen anything yet, but $30 billion they’re coming after now.
So those of you out there that spent that money fraudulently, you’re doomed. I’m just going to tell you that right now because of the stuff I’ve heard about and the agencies, what they’ve told me so far, they know you did this. Plus, you have a three year audit that you’ve agreed to when you signed that paperwork. They can show up on Thursday. Get ready. Okay. Get ready. Your friends are about to show up.
It. Have you guys noticed that there’s a lot of companies that have gone bankrupt in 2023? Just all over the place, there is an investment vehicle called a SPAC, a special purpose acquisition company that basically was started during COVID And what it did was it allowed you to put together an investment and basically say, hey, I’ve got this great group of people, and we don’t know what we’re going to do yet, but you should invest in this, and we’re going to go public.
And the shares were tradable. People could buy the shares and sell the shares, and you could get some heavy hitter investments. And it was a very fast way to go public. Now, flash forward to now, and you have 21 companies that went bankrupt via SPAC in 2023. And they lost $46 billion amongst them. Okay, that is crazy, guys. It’s so much money. And do they have different regulations than a regular public company? Yes and no.
Yes, because of the speed that they could put things together, but just shenanigans. And the most popular one that you guys have heard of. So you guys know what I’m talking about is wework. Wework was done this way and that know guy rented office space and then charged more for it and gave you the experience. Okay, great. Fantastic. Congratulations. Okay. But what they would do is you’d get an investor.
Hey, we’ve got Richard Fitzwell, and Richard Fitzwell is the man. And this guy is going to make things happen. And he’s huge in the insurance and finance space. Okay. Just a big guy, Richard Fitzwell. Okay. So anyways, they go out, they raise all this money, and then things collapse around them. So it’s going to be interesting to see how this plays out in 2024. But you’re going to see a lot more of this.
And the next thing is another insurance company just got approval from the state of California, state Farm. And this is going to come to a theater near you. So get ready for this. State Farm is going to raise their rates 20%. 20%. Now I have State Farm, so I call my insurance man, Scotty. Yes. Applies to everybody, Dan. Even you. Yes, 20%. You’re lucky you have insurance. That’s what he told me.
Nice guy. I’ve known him forever, since he was a kid. But you’re going to see this as a real problem because I am telling you this right now. So many new homeowners are going out there buying properties that they cannot get insurance on right now, guys. So the unthinkable is happening where people are buying a new house and they’re cash, but most people don’t buy a house and have a bunch of extra cash laying around.
So imagine you’re going out and people are just getting hit with these huge insurance premiums and water deposits. Now, that’s the other thing that’s really crazy is the water companies are asking for absolute arm and a leg to get people into properties. Because one thing you should ask people is what’s the homeowner’s insurance? Who do you have homeowners policy with? How many claims have you had? Things like that that the agent should be able to answer for you right off the top of their head, but they never do.
We’ll get back to you. Okay. Anyways, the point is that they’re charging more for everything right now. Okay. So get ready for this. And you’re going to see more and more vehicles, like investment vehicles, go down. It is going to be crazy because I have a feeling that after the first people are talking about, inflation is tamed. Who believes that? Who believes that you’re spending less and that it’s going down? Everything has shot up through the roof and now we’re finally getting caught up on it.
You know what I’m saying? It’s finally smoldering, put it that way. Share your thoughts on this stuff so far. I’m going to finish this video with these last few stories. But first, I really want to thank you guys for all the thoughtful cards and gifts and everything that you sent know, Tiffany with Rosie’s new collar that’s going to go on after she gets her bath in the morning.
And Robert from New Jersey sent me that great New Jersey care package. I mean, everything. Vivian, the pumpkin heads picture that you guys sent me. I mean, all this stuff is fantastic. The time, the best thing you can do is write somebody and send somebody a card. I truly appreciate it. I read each and every one of those. It’s very difficult to respond to all of them just because of the sheer volume that I get at the holidays.
And it’s a much better time this year than it was last year because it was just thoughts and warm wishes from everybody. But man, oh, man, I appreciate each and every one of you and thank you so much for doing this. Okay, so lot happening also around the world. Argentina has a new president and he just issued a decree in Javier, Malay and he just fired 5000 workers for the government.
So 5000 workers done. You’re going to see things like that here. I don’t think it’s going to be as dramatic as Argentina because they’re just completely upside down and you can’t buy anything. The inflation is through the roof. It’s just completely chaotic. But read the story below because it’s fantastic on how they just got rid of everybody. The next thing is beer sales. With the Bud light debacle that happened earlier this year, beer sales overall are down 25% right now.
So it’s crazy, okay. And there’s an industry that’s completely upside down. So share your thoughts on that one. They say that the best economy in our country is in the south and in the southern states. If you can get to the southern states, you have the potential to have good real estate, a good economy, people with money. Read the story below and the final story. Know, you guys got to set a guy up every now and then.
The richest woman in the world, Francois Bettencourt, she is the heir to the L’Oreal cosmetics Foundation. They make lan cone and Maybelline and things like that. And they do $42 billion a year in sales. But she just crossed over her net worth to over $100 billion. So she’s single, too. Okay, so give her my number. We can text. Okay. Start a texting conversation with Frenchie. Okay. And anyways, people are like, that’s disgusting.
You’re terrible, dad. Anyways, please don’t forget to the like button. Please don’t forget to subscribe to the channel. And look at the birds. Are they fighting or are they just having a good time? What do you guys think. Okay, send me your stuff at hello. At I allegedly. And I’ll see you guys very soon. Onward and upward. Okay, bye. .
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