How Bad Will It Get in 2024? | I Allegedly

➡ Dan from I Allegedly talks about how in 2024 many companies, both big and small, are cutting costs and laying off employees to become more efficient and profitable. This includes well-known companies like Nike, Mattel, PayPal, and others. At the same time, crime rates are increasing in many areas, causing concern for local businesses and residents. Lastly, there’s a prediction that interest rates will be cut twice this year, which could lead to an inflated stock market and potential financial chaos.

➡ The stock market is high but could crash, and people are in a lot of debt, especially from credit cards. Tax refunds are lower than before, which is worrying. There’s a lot of economic uncertainty, and people are advised to protect themselves, for example by investing in precious metals. There are also issues with student loan payments, high insurance prices, and rising costs of living, and some people are calling for a higher minimum wage.

➡ The article discusses the high cost of living in California, where even a couple earning $200,000 a year can’t afford a home or to raise a child. It mentions the San Jose San Mateo housing market as the most expensive, requiring a $500,000 annual income. The article also shares a story about a restaurant in San Francisco that offered free tacos for life to anyone who got a tattoo of their logo, resulting in $5.8 million worth of free food given away. Lastly, it mentions a company working on a DNA clock to track aging and a new trend of slow workouts.

You. Hey, it’s Dan. Welcome back. You’re watching. I allegedly, and got a good one for you today because I am home, first of all. And the first thing I wanted to do was go out and to the sunshine and see the beach and see the water and just soak it in, which is very nice. And this is going to be the year 2024 is going to be the year of cost cuts.

You’re going to see companies and families and people that are successful and broke cut costs right now like you’ve never seen them before. So before I get into it, please hit the like button. Subscribe to the channel. And today we have a sponsor, Patriot Gold. I’ll talk about them later, but let’s get right into it. In this year already we have seen dozens of companies that are major noteworthy on different stock exchanges cut employees with massive layoffs.

You’re going to see this continue throughout 2024. And the thing about this is that regardless of the size of the company, if the company is making money, they’re still cutting back right now. Now, there’s a list right now, Nike, Mattel, PayPal, Cisco, Levi Strauss and ups that have just made cuts. Don’t forget Macy’s. Don’t forget all the tech companies. But what they’re doing is they’re getting themselves ready and streamlining the company to make them more profitable and more efficient moving forward.

They have to do this right now, and you have to do this yourself with your own budget right now. The last thing you want to do is have any excess debt, expenses that you don’t need, any subscriptions, anything that you don’t want to pay for, get rid of it. Now. Do yourself a favor, because, man, oh man, it’s going to get worse. And let’s bring up one of my favorite people, Markey.

Mark Zuckerberg steps forward and he says, it’s a great article. Blow about this. He says, listen, let me explain the layoffs to you. In the tech sector during 2000 and 22,021, when everybody was in lockdown, we had to go out and add more employees to overcompensate for the growth that we had. Okay, so I guess everybody’s online, so they had to add more people. Well, to be more efficient.

Now, one thing they have to do is they’ve got to get rid of all these people. Well, you’re going to see this with more and more companies. Whether he’s right, and I’m paraphrasing and simplifying a very long article, an interview with this guy. But this is the beginning of this, guys, because so many people and so many companies are not making money right now. And it’s got to be dealt with to say the least.

Okay? But when I talk to my friends, colleagues, business people, people I work with that are profitable and doing things right, they’re doing everything they can right now to cut back, which is where you need to be living, right? Know, it’s really weird. When you go through and you walk through New York City, there is disparity. There are incredibly wealthy people that are very snooty and incredibly just like you think they would be rude and condescending and everything like that.

And then there’s very broke people that are panhandling and living in the streets. But it’s a very wide gap right now, guys. It’s just getting worse and worse and worse. I’m going to park it here for a second. You’re seeing such a problem with this. And I was just blown away. It had been a few years since I’d been to New York and had to go there on business and with my daughter, and it was one of these things that, hey, we’d like, it’d be great if you could show up to this meeting, but we know it’s probably unlikely.

But I’m telling you guys, one thing in business, one thing my dad taught me that really stuck with me, is if somebody’s talking about you and they’re negotiating something about you, and you can be there for that. Be there for that. And he used to always say, if they’re mad at you and you show up, they’re going to be less mad at you. If they’re happy that they’re doing business with you, they’re going to be happier that you’re sitting there.

And it works with personal relationships, with women, with everything. He’s absolutely right. And there’s times you need to show up and fly across the country and do that. So there’s that. But I’ll tell you more about that later. Anyways, you are seeing such a problem with crime around the know. There is a restaurant in Oakland, California. Wise choice. Now it’s the letter y, choice y, comma s choice.

Wise choice apostrophe. Excuse me. Anyways, wise choice owner Jack London said, listen, this is ridiculous. We need more police to patrol in this area. We cannot have people just committing crimes randomly like this. There’s no cops stopping these people and there’s no accountability at all right now for any of these people. Okay, now let’s continue. Let’s stay in Oakland. Right now, Kaiser Permanente is one of the largest employers not only in that city, but in the area.

So a hospital, nurses, doctors, everybody, they should mandate do not leave the hospital during the day or during your shift for any reason. How great is that if you own a local business there, don’t go to the dry cleaners, don’t go to a restaurant, don’t leave at all. That is insane, guys, that you’re living this. Now let’s add to that. The governor of Louisiana just sat there and steps forward and says, we have a problem with crime in our state, which they do.

It’s very bad, but we need to go out and we need to get more police officers right now. Oh, okay. So are they going to do it? Who knows if they’re going to do it or not. But this is something that’s happening around the country. You guys got what you paid for. Remember that. Who you elected, who you voted. It’s awful. And now crime is rampant and businesses are leaving.

You’re going to see such a mass exodus for certain areas. And now will there be a mass exodus of businesses leaving New York state? Who knows? Who knows? I’m a California guy. My short sleeve shirt today at 68 degrees, this is fantasy land compared to the high was 30 when I was in New York. This state has its own problems and they’re about to be exposed when somebody starts to run for president in the next 60 days.

So you’re going to see that. But again, you have to step forward and cut everything you can and cut every cost that you can out of your life. That is not necessary. Jerome Powell steps forward with insiders. There’s a great article below talking about how, hey, you know what, regardless of what is going on with inflation, we’re going to cut interest rates at least twice this year. If they do that, you’re going to have such an inflated stock market, it’s going to be utter chaos if you do that.

And eventually the crash will be much worse. But inflation will go through the roof if that happens. So he’s talking about a June and September rate cut. And again, just symbolic. But again, if that is true, and if he’s going to do this, like Bob says, it’s going to be built into the stock market. You’re going to see the market run up on this news. And with that news, it’ll be overinflated.

So get yourself ready. But if you look at people like Jeremy Grantham, who Jeremy Grantham is known as the bond king, he keeps stepping forward talking about how bad this is going to be, and the crash is going to be absolutely chaos for people. So when you look at this, you have to protect yourself. You have to get ready, but get rid of things that you don’t need right now.

I’m telling you, sell the merchandise and things in your garage, the tools, the golf clubs, the motorcycles you’re not riding, the bicycles you’re not riding anything that you don’t need. That extra car that’s just sitting there in the driveway, get rid of it now while you still can, because there’s going to be a point in time when people are going to have no money. Mark my words, this layoff spree is going to get worse.

I have a friend who is a lifelong friend. It’s in the manufacturing sector, and their company is having such a difficult time because the entire industry is down, basically 25% of sales right now off. Okay, so not going to say the industry, I think I mentioned it once before, but the point is that the salespeople and certain people in production, they’ve laid off dozens and dozens of people from this company, and they’re not even done with that.

So what he said is you’re going to see more and more people have quotas put on them. And salespeople have such unrealistic goals that you better be able to live on the salary that you have because you’ll never see a sales commission, ever in the coming months, weeks, and maybe all of 2024. So get ready. Get ready. But with that, nobody wants to hear that because everybody counts on that money right now.

The stock market is still at an all time high, and it’s teetering on collapse right now, whether you believe that or not. And if you listen to any of these experts. But one thing that’s happening is people are in debt to their eyeballs. They have borrowed so much. And it is unbelievable how bad the credit card debt is. And I heard last week, hey, credit card usage was down last week.

Do you believe that? Okay, great. How do you know that? Normally, don’t we get these numbers six weeks behind. But anyways, tax refunds right now, they say, hey, listen, tax refunds are off 30%. Last year’s tax refunds were 3200 on an average, which was a lot for 2022. Tax refunds that they got in 2023. Right now, the average tax refund, the check that’s getting written right now, think about this number one, $287.

Read the articles below. Now, it’s more than half, guys. It’s like 58%, 59% off. What they were so that should get you concerned, to say the least right now. And again, there’s people that use that money and borrow that money. And you go to h and r block and all these other places where people borrow that money long before the check has been issued. They can’t wait two months to get their money, so they go out and borrow it right now because they’re in desperate need of it.

So share your thoughts on this stuff so far. Let’s talk about our sponsor, Patriot gold crew. You have to get real with everything that’s going on in your life and in the economy. Think about this one fact. It has been the longest period of time since our last recession. It’s been over 14 years. And I think that we’re in one right now. But you can do something about it to protect yourself and your retirement by calling Patriot Gold today.

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This has been such a tumultuous year already and it’s just beginning right now. Contact them today, 888-330-1431 and get that free investor guide. Do it now before it’s too late. Contact Patriot Gold. There’s so much going on in the economy to discuss. Also, think about this. Student loan payments started up again. There is one company that went and charged people too much in fees. The Consumer Financial Protection Bureau stepped forward with Performance SLC.

This company was charging upfront fees. Hey, you have to pay these fees on your student loan payment. And they collected all this money, which was totally illegal. And people, because they were nervous that they were going to attach their wages and do all this stuff that they shook them down for. Now they’re getting a refund of $10. 9 million. 8000 people thought that they were supposed to pay these fees.

Isn’t that ridiculous? So guys, if you think that there’s a question about anything, ask someone about this. But the Consumer Financial Protection Bureau is not going to tolerate this. Now the next thing is a couple Tesla stories. Elon Musk is saying, listen, we’re going to have the $30,000 Tesla that’s going to go into production and I want all the workers that are on the line to plan on working 24 hours a day and sleeping at the office.

Could you imagine an employer saying that to their employees? Listen, don’t plan on going home. Plan on living on the line. Okay, well, what about a workday and time off and things like that? No, this is going to be the hottest car in the world. And again, remember, it was going to be 25 grand. Now it’s $30,000. But be realistic. Okay, so there’s that. And again, do you believe it will be $30,000? I don’t.

Now, next thing with Tesla is the cyber truck is out, and it’s stainless steel. The body is stainless steel. My daughter saw one and they’re rusting already. These people paid. Now this is what floored me and made me want to talk about this. 80 grand for those things, for that Tonka toy. $80,000 for that thing. Okay, so you’re an idiot. Completely. If anybody has bought that thing and you want to share it, you want me to come unfilm it, I’ll show up at your house tomorrow.

So if you’re in Southern California, I’ll do that. Now, the insurance commissioner here in California, he says, hey, I’m going to fix insurance. And the problem with auto insurance in California and homeowners insurance, we’re going to have a meeting at the end of March. Oh, okay, great. Now, do you understand the bureaucracy and the idiocy of that statement? We’re going to have a meeting next month to discuss these high insurance prices.

What’s that going to do? Do you think that’s going to give you relief on this? Now, I am telling you, if you are buying anything that requires insurance or requires utilities or anything, whether you’re renting something or buying something, check out what it’s going to cost. Now, I would not take the owners word on this stuff or your landlord’s word on this stuff. Talk to the city that you live in and talk to the insurance companies.

Are you going to write the insurance policy for this house? If we purchase it, would you rewrite the policy again? Because a lot of times they’re not. So you’re seeing the utilities go through the roof. I talked about this in the last video. People can’t afford the houses that they’re living in right now. People are going to make less money. What would happen if you took a 30% dip in your income right now? Could you live on that? Oh, gosh, Dan, I have $12 left over at the end of the week.

Absolutely. Not you have to live your life as if you’re going to make less in 2024. If you do that, you’re going to be ahead of the game. And I’m telling you, just to get yourself out of debt right now, it’s the best thing that you can do. But you have to understand there’s going to be a world where business is going to drop. Know what’s her name? Is it Catherine Lee, the state congressman, congresswoman here in California.

Her last name is Lee. She’s running for Congress or senate in California. She runs to raise the minimum wage to $20 an hour. Okay, now think about all the minimum wage workers that you run into on a daily basis. Because to film this video, I paid for parking. I went and got a coffee. I had breakfast, meeting with somebody. I went to a 711. And anyways, there were six of them that I came across.

So imagine if all these people you came across made $2,000 a week doing that job. Okay? You think that the parking is not going to go from, hey, 1st, 90 minutes free to $16 for you to park your car there? It’s going to be chaos. It’s going to make your cup of coffee that’s too expensive at 550 right now, $12. So mark my words on this stuff, guys, you can’t tax people to death.

You can’t spend your way to prosperity. They want to talk about taxing billionaires right now. And there’s a great story below about this, about how this is not going to work. The idea with this is that we’ll just tax these guys. It’s the old AOC method. Tax the rich. No, it doesn’t work. You want innovation, you want guys like Elon Musk. As much as I think that he goes in and out of Whackadooville with me, you want that guy to innovate? You want Mark Zuckerberg to innovate? You want apple to innovate with those stupid goggles that are $3,500.

Mark, my word, someone’s going to be driving with those goggles on and take somebody out, and then they’re going to want to sue Apple saying that they never should have done that. And again, you’re not supposed to wear the goggles when you drive. But again, these are the guys that ride mopeds till they’re 40 and can’t figure out why they can’t get a date. But share your thoughts on that.

Okay, so let me know what you think about that. It is a beautiful day out here by the way, again, it is so great to be home. Here’s a wild story. Out of New York, there was a man, Mickey Barretto, that lived in a hotel for five years without paying rent. Five years under a local ordinance. They couldn’t kick him out. Five years. And he kept. They tried.

They tried suing him. I mean, whatever happened to large Lewis and whatnot? You know what I mean? But anyways, I guess you can’t do that anymore. But needless to say, this guy beat the system, where he finally got in trouble. And the DA said, we have to do something about this. He told people he was the owner of the building, which was fabulous. So Mickey then went out and somebody showed up to look at space, and he wanted to charge them rent to be in the building.

So you can’t do that. You’re not allowed to charge rent for a building you don’t own. So the DA finally said, we’re going to prosecute this guy. Great article. Out of mishtalk, which is below where the average, regardless of where you live, homeowners insurance and car insurance has gone up 30% around the country. Oh, okay. Becca and Xavier make $200,000 a year. They live here in California. This story was sent to me out of the UK, not from here in California.

Becky and Xavier make 200 grand a year and cannot afford a home. And they also cannot afford to raise a child. They’re saying, because I understand why they say 17. I don’t know understand that. But to raise a child to 17 years old in California, now they say it cost $310,000. Wow. Okay. When my daughter was born in the late ninety s, I will never forget sitting in a hotel room.

And they said that the average child will cost you $100,000 to raise them, to get them to 18. And that I instantly woke up and instantly thought, wow, I got to make some money because I have a Daughter now, and I got to earn a living to do this. So again, it catches up with you. Okay. But these poor people cannot afford a child, they think, at 200 grand a year and also cannot afford to purchase a home.

Now, the most expensive housing market in southern California is the San Jose San Mateo housing market. San Mateo, you have to make $500,000 a year to live in the San Mateo market. 500 grand, which a lot of us don’t make 500 grand a year. So with that being said, who can afford to purchase a home right now? I am telling you, when you start to see what’s coming, because my budy, who owns the foreclosure company.

He’s like, you know what? Just drive around for the day with me. Let’s go do that. So in the next week or so, I’m going to drive around with him and post houses with him because it’s getting busier, guys. Why is that? Why is that? So share your thoughts on this stuff so far because it’s just getting crazy. I’m at one of the military memorials out here and I love coming out here.

You guys have asked me for this, but this is beautiful. Overlooking Laguna beach and just a really nice spot. And again, it’s a winter day, guys, and it’s almost 70 degrees out here. It’s really nice. This is one of the memorials from 2001 dedicated to all armed forces. It’s really nice. But this is at Heistler park in Laguna beach. Just a beautiful spot. Really nice to come out here and see this.

I’m going to finish this with these last few stories. It is just beautiful out here and warm and I love it. For those of you that are interested, my birthday is February 25. You guys had a few people write me about that. So it’s next week. What else? Casa Sanchez was a restaurant in the San Francisco Bay Area that came up with a really cool thing, which I’ve joked about with you guys.

Hey, get a tattoo and you get this for free. Well, get a tattoo and you get free tacos for life. Of the Casa Sanchez logo, which at the time was a guy riding a cornicob. It was funny. So anyways, they anticipate that they’ve given out. Think about this, $5. 8 million worth of free food. It was one of the most successful and expensive promotions ever by a restaurant.

So anybody’s got the tattoo, let me know. But read the story below because it’s great. Another thing, I love this thing called study fines, where it gets a lot of different medical advice and different programs and things that have been legit. And when I ran my medical conferences, it was always a good place to go and get research and surveys from. But there is a company trying to work on the dna clock right now and trying to make it so that they can keep track of aging and things like that.

Does that interest you? If you guys knew, hey, I’m going to die ten years and two weeks from now, would you want to know that stuff? I mean, live the dream, guys. Enjoy every second. But there’s that. And then there’s a new thing called slow workouts where you do the workout and you take it easy. I just thought that was being lazy and walking, but you can read the story on that, too.

Easy workouts. Hey, honey, I’m not just taking an easy workout, but you’re not losing any weight or getting your muscles in shape. It’s just an easy workout. So anyways, I got a kick out of that one too that was sent to me. Please don’t forget to hit the like button. Subscribe to the channel if you want to get a hold of me, please. Hello@iallegedly. com? Make sure you sign up for the email list because one goes out tomorrow, guys.

So onward and upward, guys. I will see you guys very soon. .

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