Insurance Nightmare – Who Can Afford This?
Summary
➡ He shares the story of Lynette Shepard, from Queensland, Australia, whose insurance premiums have increased six-fold in a year without new claims being made.
➡ Daniel’s account is also referenced: his insurance policy was cancelled by Western National Mutual Insurance Company, leaving him to find a replacement in 60 days.
➡ Dan mentions the construction business’s current peculiar state, with people being allowed to build additional dwelling units in their backyards in California due to a housing shortage.
➡ He brings up a new bill (AB 1030) that would permit homeowners to sell these units, leading to potential neighborhood and insurance complications.
➡ He talks about his sponsor, Dr. Gundry, who promotes healthy living by focusing on gut health and avoiding particular foods we commonly perceive as healthy.
➡ Dan briefly touches on the ongoing cold spell and the advantages of a fire.
➡ He concludes his talk with an anecdote about Clark Hunt, CEO and owner of the Kansas City Chiefs, and the positive influence of Taylor Swift on the team’s popularity and revenue.
➡ Approximately 90% of current mortgages are at an interest rate below 6%, and some people regard this as manageable despite others having rates over 8%.
➡ Contrary to real estate experts saying people can’t sell their homes, life circumstances often necessitate selling such as for job changes, divorce or financial difficulties.
➡ The global shipping industry, FedEx, UPS and the postal service are experiencing difficulties with shipping reducing by around 40%
➡ The newly built Fountain blue casino in Las Vegas has lost three executives since it opened due to issues with providing an unfriendly and costly environment.
➡ The Durango, another Las Vegas casino is performing well and maintaining its executive staff unlike the Fountain blue.
➡ There is a new travel advisory against visiting Colombia, indicating an increase in global desperation and potential risk for travellers.
➡ Citibank has announced it will be cutting 20,000 jobs, mainly longstanding employees, in a bid to save money.
➡ CVS stores located within Target establishments are set to close, causing potentially negative impacts mainly for the poor and elderly who will lose their local pharmacies.
➡ Celebrities including Barbara Streisand have been found to have received significant pandemic financial support.
➡ Grant Cardone, financial guru, is suing former T Mobile CEO John Legari for $100 million after disparaging comments were made during their jointly held interview.
Transcript
So, as always, like the video, please subscribe to the channel. Today we have a sponsor, Dr. Gundry, but I’m going to get right into it. And globally, there is problems with business. Globally, there’s problems with shipping. There’s problems with construction. There’s problems with insurance. And in Australia, australian home prices have gone through the roof over the last three years. And there has been the same problems that they have there that we have here, and that is with insurance premiums and with stuff getting paid and insurance companies backing out.
Lynette Shepard lives in Queensland, Australia, which has always been a high risk area. And the problem with this is that they’re labeling areas high risk again and again when they’re not really high risk. Her insurance went from $5,900 a year to $39,000 a year. And Tony sent me this, which is such a great image, and I want to thank him for this. But this was a story in one of the local papers, and then it’s on the Internet.
It’s all over the place. But Lynette is not alone. Now, here’s the thing. Lynette has lived in the house for 20 years and had minimal claims on the house, normal wear and tear. And things have happened in your house in 20 years. But to go from $6,000 a year to $39,000 a year is insanity without a new claim. So what are you going to do? How can people afford this? This woman makes $60,000 a year as it is right now.
And the next one, again, everybody thinks they live in an island. Everybody thinks, oh, this is just happening in my area. No, it’s happening around the world that we’re experiencing this. And as the economy gets worse and the insurance company try to get more money from us, you’re going to see more things happen like this. Now, one story that resonated a lot last week was the story of my insurance man who just came in one day and found out that they were canceling his agency.
Daniel is a subscriber. Daniel wrote me, and I got to get the name of this insurance carrier, right, because it’s a long one but Daniel wrote me about his insurance company that just said, we’re done. Western National Mutual Insurance Company. Effective this notice is issued on the 9th and effective 320 24. You don’t have insurance anymore. So they’re giving him 60 days, basically, to get a new insurance carrier.
But what are you going to do? Who’s going to insure this guy’s house? And I don’t know where Daniel’s at. He did a good job of blocking things out so we don’t have to see it. But, guys, this is happening over and over again, and we’re seeing wackiness right now when it comes to construction. We’re seeing craziness when it comes to the economy. And here in California, there is a housing shortage.
We have a tremendous problem with homelessness, and the homeless business is a huge business. There is a tremendous amount of money that’s made from these nonprofits on the billions of dollars that is raised by this. So they say that we need tiny homes and we need smaller homes. And the solution has been to build adus, accessory dwelling units inside of the backyards of houses. Now, from the studio, there’s a couple of new adus that I’ve seen get built in the last six months between here and the freeway.
And I’m like, wow, they just put another house behind that house and did it rather quickly. Some are big, some are small, but here in California, this is in full force right now. You can go out and you can get an AdU in your back of your house. And it used to be incredibly difficult, guys, to do this. It used to just be awful. So now they’re allowing this.
Now, the thing about this is that here in California, because of all the environmental laws, you want to build a stadium, you want to build a public venue of any kind, they have to have an environmental impact report. How does it affect the environment? I know you’re thinking of the air and electricity and things like, no, it’s traffic. It is everything that goes involved, that gets involved with the environment of that facility and that structure.
So from traffic to noise to energy usage, water usage, waste, everything. Okay, well, now they’re just letting people build three and four houses in their backyard. And here’s what’s crazy. AB 1030 is going to allow these people the ability to sell those units. So in your backyard, you could put four or five units in your backyard. They don’t care about setbacks, they don’t care about the restrictions. Normally here in California, every city is different, but you got to stay 5ft away from the sidewall and 10ft away from the back and things like that? No, just build it, do it, get it done, and boxable.
And these companies where they can crane homes in are doing killer business. But they’re now going to allow these people the ability to subdivide without a subdivision to sell this. And the crazy part about this is that you want to be in the home business. Buy a house and put five houses on it. Do it. Put as many as you can and sell it. And the thing about this is that what do you do if you sell to the person a two bedroom place and they’ve got five kids? This will happen.
What do you do if somebody has five cars on the street? Well, we don’t care. We just sell it. It’s going to relieve homelessness. Again, I don’t know how. And I think it’s going to create more of a problem than anything else. Because the intent of property and the intent of having your backyard and your open space is that you own that. And now it’s fair game for the commune.
And here in north Tustin, there is a track off of Hughes. There’s a house that has eight houses on one lot, and it got approved decades ago to do this. And this guy rents out these little tiny one bedroom shacks to people. And everybody lives behind this one gate. And it’s really kind of a ridiculous way of living, but the traffic on that street around that house is a complete mess.
And I don’t think that this is going to be any better. So again, how do you insure this? What happens if you have the middle unit is not insured, okay. And the house catches on fire and burns your house down? You’re going to see such problems that people never dreamed of. Let’s talk about our sponsor, Dr. Gundry. Dr. Gundry is a famed cardiologist who for years could not lose weight.
He would run, he would eat right, and he just couldn’t lose the pound. Then finally, he found the secret. And the secret was in his gut health. Now, we are eating things that we think are healthy, but they’re not. So what you can do is you can go to Dr. Gundry’s video at Slash Dan, use the link below and click on it, and you can watch a video from Dr.
Gundry on what he did. But for decades now, Dr. Gundry has been keeping the weight off by eating right and staying away from foods that we think are healthy but really are not. And they’re basically toxic for our gut. And they give us fatigue. They give us a belly fat and give us joint pain also, so you can do something about that. Go to forward slash Dan and check out Dr.
Gundry’s video today. And again, Dr. Gundry’s done it right. He’s kept the weight off for decades now. And I really think you’re going to enjoy this video. Check it out today. Now, we’re going through a cold spell right now, and it’s chilly, so nothing’s better than a fire inside the studio. Thought you guys would enjoy this. It’s 64 degrees outside. It’s chilly. Chili, chili, chili. What’s his name? Clark Hunt is the CEO and owner of the Kansas City Chiefs.
Clark went on the clown and chief show, which is Jim Kramer, because he’s a shill and a fool and an idiot. Okay. I could do shows on all the bad advice that Jim Kramer’s given through the years. But anyways, Mr. Hunt was on his show, and Mr. Hunt was talking about having Taylor Swift in the audience, has driven up attendance, driven up ticket sales, driven up everything from shirts.
Her dating Travis Kelsey has been just a huge, huge boom for the team. And he loves it. He thinks it’s the greatest thing ever. But female fans have gone up almost 40% because of Taylor Swift dating this one guy. So the team knows that. The team realizes it. So it’s kind of interesting that he was talking to the clown in chief about that. Now, here’s a stat for you that I thought was pretty interesting.
It is anticipated that nine out of every ten mortgages right now, okay, are at an interest rate below 6%, which still 6%, I think is manageable. People freak out when I say that, but I think 6% is not a bad mortgage rate right now, if you can get it. I know a lot of people that have got mortgages over 8% right now. And the thing about this is that the real estate experts say that people are frozen in their home.
They can’t sell their home. That is just not true. Life gets in the way, guys. You have to sell your house for a job for. You could get divorced. You may not make enough money. Everybody thinks that everybody that has these lower rate mortgages can afford the house, and they just can’t. So it’s not that everybody’s doing well right now. Everybody has to remember that we’ve seen global shipping have problems.
You’ve seen FedEx have a problem. You’ve seen ups have a problem. And the postal service is off. Okay. I’ve had postal workers write me and say that they, wow, has this been a great Christmas season. We’re off about 40%, guys. That’s people not spending money in shipping things. Okay? The postal workers are working harder, and they’re shipping less packages. Remember that. They’re not paying them anymore. Vegas had a new casino built called the fountain blue.
And this place, billions of dollars were put into it. It’s 67 stories high. It’s truly one of the biggest buildings in Las Vegas. And next time I go to Las Vegas, we’re going to walk through it, we’ve decided. But they had one executive leave. Now two more executives have left. The chief operating officer and the CMO, the chief marketing officer have both decided to leave the company. Here’s the thing.
I don’t care how nice the building is. Vegas, people want value in Vegas. There are people that stay at different hotels, the aria and the cosmopolitan and things like that, that want a higher level and a higher experience. And there’s Palazzo, and we could go on about the nice hotels forever. Okay? But the problem with this place is it’s just not friendly. It’s gaudy. And everybody that’s gone there says, it’s nice, but it’s very expensive.
Everybody that’s gambled there has said, I got killed. I don’t win here. I don’t want to play, you know, where else do you not want to go? That’s what’s interesting right now, is that you’re going to see more problems. The Durango opened in Las Vegas, and that’s out more towards the Summerland area. And that’s one of the station casinos. And that place is beautiful. A place is really doing well.
And again, the reviews are great, but the executives are staying, too, at that place. And one thing I got a kick out of was there is a travel advisory. I’m like, oh, wow, where’s this for? Where do they not want people to go right now? Because it’s dangerous. Columbia. So I don’t know of anybody on the planet earth that has said to me, oh, Dan, we’re going to go to Colombia next week.
Okay. Nobody travel. What? What are you doing? Who’s going to Colombia right now on vacation? I know people that friends married to a colombian woman, and they have a factory there, and they say, go there with a guide. Okay. But now they have a travel advisory there. So you’re going to see more stuff like this, because as people get more desperate globally, they’re going to take things out on people more and more often.
It’s just sign of the times, guys. So let me know what you think about this, share your thoughts on all this stuff so far. It’s nice just to sit around the fire and talk about things like this and contemplate the economy. A couple of things I’m really grateful for is that when insiders send me things and I got a letter from a Citibank employee who I cannot reference this person, they’ve got a pretty unique name so I don’t want to say male or female, but they sent me the Jane Fraser letter talking about cutting jobs.
So this was sent directly to the Citibank employees talking about the 20,000 jobs and it’s going to save a billion dollars here and $2 billion there, but they’re cutting back and you’re going to see 5000 job losses immediately. So guys, this hits home. People that are adults losing their job, that have worked at this bank for 15 and 20 years are going to lose their job in a matter of weeks and months.
And as we talked about the pensions and these companies cutting back, you think Jane Fraser is going to give great pension programs and severance packages? I think it’s going to be. Thank you for shopping here. Have a nice day at Citibank. Okay, the next one is, did you know that there’s a lot of CVS stores inside of Target? CVS pharmacies inside of Target, 1800 of them. Okay. And I had no idea there were that many.
But right now they’re going to close a lot of these underperforming stores. Again, when a pharmacy closes, it’s the poorest people and it’s the elderly that lose out. If you have a pharmacy inside of one of those Target stores and that’s where you get your prescriptions, you need to immediately contact them and find out if your store is going to be affected because hey, you can always change it to another location.
Hopefully you can and hopefully that’s going to be an option. But the thing about this is the inconsistency of this and how they throw these warnings to us in advance and then you find out about, oh, don’t worry, it’s just going to be a few stores, dozens of stores, dozens of CVS stores are going to close. Nonsense. They’re going to close thousands of stores right now. They’ve talked about 2000 stores closing within the year.
So let me know what you think about this stuff so far. I’m going to end this video with this and thanks for being here sitting by the fire with me. It’s been just an amazing time. And we’ll get back outside real soon for you. A couple of great stories to end this video. There was pandemic money. And one thing that we found out is that celebrities got some of this money.
You’ve heard about it. Football players, athletes, actors. The latest one is Barbara Streisand. Her small film company got $200,000 in pandemic cash when I didn’t get any money like that. And she paid her gardener with it at her $20 million mansion. So our tax dollars paid for Barbara Streisand’s gardener, or as I like to call her, paid Yentl’s gardener. Okay. And the final story is the one and only Grant Cardone, who I like this.
They called him financial guru. I like Grant Cardone. Grant Cardone, you guys, I’m telling you, I was one of the mentors at Cal State Fullerton in their marketing department. They do a program and they bring companies in to promote them. One of the people that wanted to get promoted wanted to be a motivational speaker. And I told them, gave them a list of people, the students that they should talk to.
And Grant Cardone got on the phone with this one student and gave him almost an hour of her time. It was just a great guy and told him everything that this guy should do to run his business. And this is what we base the pitch on. And so for that, I’m always grateful for Grant Cardone. And that’s where that comes from because he’s actually a generally decent guy.
But he is suing John Legari, the former CEO of T Mobile. They did an interview together where John just tore into him and said he was a drunk and that he was a fraud and all this stuff. So Grant’s going to sue him for $100 million. So, wow, that’s just solid gold. But again, if you get a chance to hear the interview, I’ll try to search it and put it below, but it’s solid gold because this guy just tore into Grant.
And Grant really didn’t respond back because it was like, hey, I thought we’re equals. And John didn’t think he was an equal with him at all. So please do not forget to hit the like button. Please don’t forget to subscribe to the channel. Thank you for being here. Don’t forget, if you are on our email list, check your spam filter because an email went out a couple of days ago.
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