Is The Next Black Swan Here? I Allegedly

Hey, it’s Dan. Welcome back. This is. I allegedly got a good one for you today because the next black swan may be upon us. And so much to cover. Please don’t forget to like the video. Subscribe to the channel. Make sure you’re subscribed to the channel because there’s been some shenanigans lately where people say that they’ve lost their subscriptions. So hit the button, hit the bell notification, and today have a sponsor and I’ll talk about them a little later.

But first things first, Naseem Talib, who is a brilliant economist who called the 2008 financial crisis, and he said that he came out of the woodwork to talk and was at a conference last week to let people know that he feels the next black swan is upon us. Now, here’s the thing about a black swan. If you know about in advance, it’s not a black swan. You can talk about hypothetical things, but black swans are things that come out of nowhere that dramatically affect everything.

But after they have happened, they’re logical and they’re like, oh, wow. Yeah, that could have happened. That’s why it’s so dramatic. Okay, so with that being said, he was talking about the housing bubble last time in 2008, and how it was just a matter of time until this was going to come crashing down on everybody, and it did four years to come. Now, the thing about this is that right now he’s saying that it’s a debt spiral, which is going to be the death spiral with our national economy and with our national debt at $34.

14 trillion. It’s completely out of control. And this is going to be the thing that’s going to bring down the United States of America and make it so that people are going to lose everything. Now, here’s something that’s really interesting to think about. Talked about a couple days ago when Jerome Powell came out and talked about how he was talking about the Fed minutes. And one sentence that was taken out of the Fed minutes that was really disturbing was that our banking system is sound.

That line has been in the Fed’s minutes for a very long time, and that line has been taken out. Was it just removed or was it something to be concerned about? I think it’s something to be concerned about. Why wouldn’t you say the banking system is sound? We’ve got a sound banking system. Mr. Talib thinks that we’re in big trouble and that it is out of control. And you have seen people that have borrowed themselves to oblivion.

And let’s talk about 2008. So many people went out and lived on their homes and used their houses as atms. They would go buy cars, boats, everything, vacations, everything, and just finance it on their house. And their house would just keep going up. They’d keep pulling money out, bigger payment, bigger payment, bigger payment. And then eventually the value of the house went down and they couldn’t do it anymore.

And that was the end of that, okay? And nobody wants to sit there and say, oh, could this happen again? The only difference is that we have equity in these homes right now, but things are going to collapse right now. They’re going to have a problem. Now, the other thing that Mr. Talib talked about was the soundness of our stock market. The problem with the stock market right now is it’s not based in reality.

It’s not based on the fundamentals of what does your company do? What do you make? Do you have money, okay. With that? That’s not how things are based anymore right now. So with that being said, it’s a real problem that when you look at the soundness of our government and the soundness of the stock market, he sees a real problem with everything. Now, you can’t live in a bubble and you can’t be fearful of everything, but you’ve got to get realistic with where things are at right now, because it’s not good right now.

It really isn’t. And here’s a guy that I only come out when I really think things are bad. That’s what the guy said, okay? So for that to be said, that’s serious. It’s scary. I think it’s wild that the guy did that. So share your thoughts on this stuff. Does it concern you that the Fed changed that about the banking system? Now, look at this. The Fed’s meeting is just, their minutes were just a sea of red.

Here’s the notes, okay? You can look it up and you can read it yourself. But these were everything that they marked out and how they presented that to the public is disturbing, okay? It really is. I just think that we’ve got. Look over here. Don’t worry, don’t worry, don’t worry, don’t worry. We need inflation to go down so we can then lower interest rates. They may never lower interest rates, guys, at this pace, and nobody wants to look at that.

So let me know what you think about this. Do you think Naseem Talib is an idiot? Or do you think that what he’s talking about can make a little bit of sense? Because I personally think that when people have called things like 2008 and gotten it right. It’s time to look at things like that. Let’s talk about our sponsor, Patriot Gold group. As we get closer to tax day and you prepare, you’ve got to look at alternatives to your IRA.

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Hey, guess what? It’s another day that ends in Y. So that means that there’s more layoffs to announce. Okay, so this time it’s the company block that’s ran by a man named Jack Dorsey. How do I know that guy’s name? Well, he started Twitter, started square and he started block now. But he’s going to get rid of now. Originally it was 20 some people. Now it’s 1000 people that they’re letting go there and it’s just to be leaner.

And he sent a memo to people. Nothing makes it easier, guys, by getting a memo from the CEO to tell you, hey, we’re trying to be leaner. And again it ends in a y. So that must be layoff day. Okay. That and ransomware attack day. Okay. So haven’t had any of those yet this morning, but day is young. Okay. So anyways, so many people are laying things off, people off and there’s just no rhyme or reason because they’re not making money right now.

Now here’s one for you. A guy named Jimmy Finkelstein, he started a company called the messenger. And I’m telling you guys, I haven’t even heard of this. They raised $50 million to be the premier news site. They opened up a year ago in May. $50 million. $50 million went into this. They hired people. All these journalists read the story out of the New York Post. It’s great. 550 journalists to cover everything, because we’re going to be the premier news site.

And they hired a guy named Dan Wakeford as their editor, and they paid him 900 grand. Okay? They paid people so much money to come work at this place and be the premier news site. It opened last May of 2023. We’re going to kill it. We’re going to be the premier news site again, I’ve never heard of this thing. But now it’s down for the count. They spent every dollar, couldn’t get the advertising revenue, which is the real problem with everything right now.

Because if you are relying on ads and everybody’s cutting back, people are cutting back on the Super bowl. Why is that? Well, because they don’t get the bang for their buck. They’re not getting the money for it. It amazes me what advertising costs right now. And there are certain things that people spend money on, like radio. Radio is a fortune right now, especially in hot markets like Southern California, where you have a lot of people in the car and talk radio and things like that.

These people are spending upwards of $15,000 for a 62nd spot for some of these places. And it is crazy, but starting to pull back. Okay. Not going to spend $7 million on a Super bowl ad this year because we’re not getting the desired result from it and we don’t have the extra money. We’ll put it in different places. We’ll put it in print. That’ll be great. Okay, so have you guys heard of the messenger? It’s down for the count.

But again, a day that ends in y. So it’s layoff day. Okay. Share your thoughts on. That’s what has happened to customer service? What happened to. Hello, thank you. So glad you bought this. We really appreciate your business. What happened to that? It’s gone. Okay. It is absolutely gone. First things first is a great story below about people that have ordered things from target that look like they were shipped out, opened and then resealed.

Nothing’s worse than that. I hate getting packages that I think somebody fingered through, okay? I hate getting food that somebody touched their, put their hands on. And Wells Fargo bank also is having problems when they’re shutting people’s accounts down for no reason. Now I’m telling you this right now. They are looking for reasons to get rid of people’s bank accounts. They are looking for anything they can. There’s a great story below about how a man had $12,000 in his account and then they shut it down.

They said, oh, you know, we just realized that when you open the account. It was done with a PO box, and we can’t allow that. It took him almost three and a half weeks to figure that out, to have them tell that instead of it being, this is the reason, it’s safety, security. What’s your home address? You guys have all had this. You have a credit card? Hey, we need to verify your address.

Is this your address? Yes, it is. Okay. But again, it goes down to customer service. That’s awful. Okay. I went into a rib joint once, and this was 15 years ago, and I used to get upset with this place because they would not make the food until you got there. Hey, everybody, Dan’s here. Hello, Dan. They would always do that. Okay. Hey, Jeff’s here. Hello, Jeff. Well, the idea was, let’s make Jeff’s food now because we don’t want it sitting there wasting.

Wasting away and getting cold, or they don’t want to make food people are not going to pay for. I used to get furious with this and say, please, just make my food so I can get in and get out of there and have it ready. You guys have seen me in there two dozen times. One of the last times I went in, there was some guy in front of me.

I ordered two barbecue beef sandwiches. Now, I ordered four dinners that night. Ribs, chicken, all this stuff, beans, ham, everything, tons of stuff. And they hand the guy that wanted two barbecue beef sandwiches my order. The guy proceeds to open everything, every single box, put his hands there and literally had sauce all over his fingers from touching my food and goes, hey, after he went through all four boxes, this is not my order.

It’s not. Two barbecue beef sandwiches. Can I get a towel? A towel. Okay. So they give him one. Oh, here’s your order. Give him the barbecue downstairs. He goes, I don’t know who this is. And then they go, Dan, your order’s ready. Now think about this. This guy just fingered all my food, and I lost it, okay? And then the manager comes out, he goes, what’s probably going? This guy just stuck his hand through my entire order.

And after I waited 45 minutes for it, and you guys wanted to give it to me. No, not a chance. I wouldn’t eat it if it would save my life. Okay. So he was furious with the woman up front. He threw the food against the wall, which was amazing. He threw the food, and it splattered against the wall and got very graphic and swore, and it was great.

Someday I’ll tell this whole story. And anyways, going back to the next time, the splat was so big. Even though they had cleaned it up, there was still a stain mark from where all the barbecue sauce was on the wall. But again, customer service, that’s the kind of stuff you’re seeing now, where they wanted to have some guy finger your food and run his hands through everything. You guys think I have food, don’t you? And hey, here you go.

Here’s your food. Take it. You have a problem with that? Oh, that’s ridiculous. Okay, so they remade my food. The guy was furious and I was furious they were going to do something to my food. But it all ended well, okay? Because I’m still here 15 years later. Okay, so have you ever had a bad experience like this? The banks are going to get worse if you don’t think that they’re going to look at what you do.

I am telling you this right now. If your company’s a little shaky right now and you’re overdrawn here and there and you’re not paying this and you’re not paying that, they’re just going to turn you off, they’re going to shut off your bank account. You’re going to see this over and over and over again. The best thing you can do is make sure you have a backup guys, because nothing would be worse than getting the Jones check and not being able to deposit it in a bank account or putting it into a bottomless pit where they tell you that you don’t know when you’re going to get that money back.

This is just awful right now. And the people that are awake right now that understand that things are bad right now are going to do much better. But again, the old customer service nightmare right now, nothing is good. Nobody’s nice about anything right now. And then what I’m going to get. And some people are. What’s to be nice about? People are horrible, okay? The idea of spending money, the idea of going to a fast food joint and spending $20 on a burger, fries and a coke is insane.

Okay? It’s just getting out of hand. But let me know what you guys think. Share your thoughts on all this stuff. Do you have any more stories like that where they guy fingered all your food and they just sealed it up and the guy literally had just sauce dripping down his hands, which after the first box, wouldn’t you go, this isn’t my order. No, he went through all four of them.

Okay, let me know. One thing I covered a little earlier that I just know, these attacks that we keep hearing about every day, it seems like there’s a company that stepped forward and they said, we want the world to know how expensive this was for us. There’s a company called Johnson Controls. They manufacture pumps. They manufacture fire safety equipment, air conditioning units, different data that can store and process water pumps, things like that.

Okay? Their cyberattack cost them $27 million. That’s what it cost the company. And it absolutely destroyed the company with that. So they want people to know how devastating this is. And think of it. They make air conditioners. Okay, well, that’s crazy. But again, just everything they had to do to fix it to get to back to normal, $27 million. So let me know, guys. Share your thoughts on that.

I love stuff like this. California lawmakers are going to drop a plan where they were going to base utility bills on your income level. Well, Ted on your street makes more money than you do, Dan. So he’s going to pay a lot more for that. Gas, water and electricity. And they dropped that. Is that insane? It was insane. It was even proposed in the first place. Speaking about paying too much, the world record prices for Super bowl for a hotel room is now in Las Vegas.

With the Super Bowl 58 going to the allegiant field in Las Vegas, where they’re going to have an average of $558 room rates for the average slum room in Vegas. Not something nice, just the dirt head rooms. So the craziness of this is that the f one race, the Formula one race that they had in November, they had huge $522 and that was eclipsed for an average room rate of now with the Super bowl.

So kind of crazy. Kind of crazy. The Tropicana hotel is no longer. They’re ripping that down and they’re going to hopefully build the Las Vegas A’s. The Oakland A’s are going to move there eventually, someday when pigs fly, and in 2040 when they get the stadium built. But think about the rich history of the Tropicana. Wouldn’t that be cool to have some of that stuff? I think that’d be fun to go there if they had an auction or anything like that.

And the sphere, which we’ve filmed before, they just announced their latest residency. They had u two there, and it’s going to be dead in company. So just think the reefer and the smoke that will just billow out of the sphere when John Mayer and company plays there. It’ll just be fantastic. Okay, so share your thoughts on that stuff, guys. I think things are getting more and more and more out of hand.

You know who Byron Allen, the comedian, is? That guy is an actual, I mean, he is a mogul. That guy went from being just a comedian with these late night comedy shows to owning the world. He wants to buy Paramount Pictures and Paramount production for $13 billion and assume all their debt. How about that? Talking about a player. That’s a player move right there. Byron Allen’s got some serious, serious money, and it will be interesting to see if he can pull that off or not.

So don’t forget to reach out if you have any questions. Hello@iallegedly. com? And I love this time of day. It’s just beautiful out here. So onward and upward, guys. I will see you guys very soon. Like subscribe and reach out if you have any questions. I’ll see you soon. Close. .

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