Summary
➡ The text discusses various topics such as warnings about the economy, the housing market and the collapse of companies with high customer denpendance such as Smile Direct. A call to action towards weight loss with Belly Trim XP is also highlighted, noting it’s impact on user’s health. The content also mentions an excessive amount of inventory at high-end retail stores and the unhealthy financial habits of consumers.
➡ The speaker emphasizes the importance of having extra cash and a separate bank account due to possible future bank closures, using the situation in the UK as an example. Additionally, the speaker criticizes Jeff Bezos for not participating in a community clean-up day in Seattle and comments on his plans to move to Florida and buy more houses.
Transcript
But I want to thank Brian for sending me this one because this is solid gold. Okay. Brian sent me a help wanted out he found in the newspaper, which is from the Lake Fork area, and I want to read this to you. Let me pop this on the screen for you. Needed Lake Fork area. Please do not apply. If you oversleep, have court often. Do not have a babysitter every day.
Have to get rides to work later than our workday begins. Experience flat tires every week. Have to hold onto your cell phone all day or will become an expert at your job with no need to learn or take advice after the first day. Must be able to talk and work at the same time. Must also remember to come back to work after lunch and should not expect to receive gold stars for being on time.
If you qualify, leave your name and number at the following number, which I blocked out because I don’t want you guys to call and text them and send them that. But is that solid gold? Now, here’s the thing. People around my age, we grew up in a different era, and the era was, oh, you want to buy something, you need to work right now. Oh, okay. Now, we had it all different.
I grew up with a single mom. My dad was in town. My stepbrothers ended up moving back to our city, and my dad was around some of the time, and I didn’t go without because my mom worked. Okay. But I had a lot of friends who are like, oh, you want a yearbook? You got to pay for it. You got to go get it yourself. You want new school clothes? Here you go.
Here’s $50 towards new school clothes. Pay for the rest. Everybody has it differently, but we grew up in an era that if you want something, you have to Go work for it. People today want to be in charge. When do I get paid? When do I have to show up? These job numbers that were announced yesterday are complete BS, okay? It’s ridiculous if you think our unemployment is at 3.
7%. It is outrageous, absolutely outrageous to think that we hired all these people. And again, these will be. Remember the name revised lower. You’ll hear that soon enough. Okay, so there’s that. But again, you can’t teach people work ethic. You cannot teach people to show up on time. You cannot teach people to be polite and be responsible. It is just not in the cards. It’s something that either they have it or they don’t.
The problem with it, kids today, they just don’t get it. And people today don’t want to work. So tragic. So many people I’ve talked to are not participating in Christmas when it comes to gifts. Now, this whole Christmas season is not built around buying people things or getting gifts. It’s about Christ and everything else that’s involved with this and loved ones and your family and everything like that.
Whatever your religious beliefs are, it’s all about family and being kind to one another. That’s what I believe. You can argue with me all you want on that. I have talked to so many people who are not going to buy anything for anybody. I was just at AAA right now getting help on getting a vehicle registered, and the woman says, I’m not doing anything. I’m spending a dollar on anything people get me for Christmas, Dan.
That’s what they get. So that was kind of interesting, but I’ve heard that from so many people. And the other thing is that so many older people right now have to go back to work right now, which is sad in itself, that they don’t get to take a break. I was watching the news today, and this woman was complaining about how her husband, because they lost so much in the stock market, he has to go back to work, and he’s 70.
I’d rather have my husband here with me right now than working. But if he doesn’t work, we’re not going to eat. So that’s where that’s at. But Just remember that this help wanted ad. Next time you think about employees and how difficult it is to get people to work, this is what people put up with. People are sick of this. People are tired of talking to people like, you know, it’s ridiculous.
So share your thoughts on this stuff. I just think it’s crazy. Next thing is, J. P. Morgan steps forward and says, we believe that 99% of Americans will be worse off by the middle of 2024 than pre pandemic. Really? 99%? Think of that number, guys. Only the richest 1% will be okay in 2024. This is staggering. Marco Kolanovic, which is their lead economist, said, listen, please understand. People have burnt through their savings.
That’s ridiculous, guys. People don’t have savings accounts. Hey, if you had a savings account like that woman, we don’t want to spend all of our savings. We’ve got to. To have my 70 year old husband work or we’re done. So people are not doing this. Companies are cutting back all over the place right now. And this is the shape of things right now. I am sick and tired of people talking about things like savings accounts and how people.
They’re just not doing that well right now. They’re awful. Things are awful. Companies are laying off. And remember this, you haven’t even seen the layoffs that are going to happen in the first quarter of the year. So many companies have their fiscal year that doesn’t end in December. It ends at the end of January. February. My friend’s company is April. They’re going to have other more layoffs during this time.
So you’re going to see more people get laid off during this time and you haven’t seen anything yet. Now another expert, Carl Weinberg, steps forward and he said Elon Musk and Michael Burry are 100% right. The average consumer has no money and are living on credit cards. And this is going to be a catastrophic problem right now because everybody’s living on money that they don’t have. It’s all borrowed and they cannot afford to do this.
But they’re not buying stuff with it. The shopping season is off. ThEy’re out spending money to survive on the staples of our lives, okay? Food and the necessary items. The dollar stores are doing well, but people are cutting back like we’ve never seen before right now. And you’re going to see massive problems. Walmart just announced for the first time ever, the earliest ever, that they’ve discounted Christmas decorations as of the 7 December.
The earliest they’ve ever done it. 25% off. Not that I’m promoting Walmart, but I’m just telling you guys, this is the sign of the times. You know what? Do we really need to decorate the house this year, hon? How much was it last year? $240. You know what? No. Pass. Okay? That’s what you’re seeing right now. So people are out of cash. Remember this? The richest 1%. I was going to make this video.
99% of you will be horrible, but I don’t want to be sued negative, which it’s awful. Guys, everybody’s going to be worse off right now in the first half of the year than before now. I love the real estate people that write me and talk about, hey, we’re going to see massive rate cuts, Dan. We’re going to see six rate cuts next year. Okay? Believe that the dog and pony show that they’re doing, that the Fed is doing by buying and playing with the debt market right now and bringing the ten year bond down is ridiculous.
This is an absolute show for the end of the year for the people that are going to get bonuses in the financial sector. Bravo and good for you. But this is awful because it’s leading people. What I think is one last hurrah before the big crash. But I know nothing. Guys not giving you financial advice, do your own due diligence. This though is a recipe for disaster. Every company that I have talked to is on edge with their marketing, on edge with what they’re spending money on.
On edge with hiring, on edge with making sure that everybody is productive. My thing with clients is everybody sells. Everybody needs to participate in the action of the company in such a way that they produce things. Okay? And you can sit there and say how does the person answers the phone produce things? Yeah. It’s absolutely important that she is the lifeline of sales. I could go on for 3 hours about this and I won’t bore you with it.
Everybody needs to participate in the company and produce for them. So do it for yourself. Do it for your business. But this is crazy guys. 99% of us are going to be worse off. This is from JPMorgan, the help one to that is insanity. It’s absolutely hilarious when you think about this. Share your thoughts on this and let me know what you think about this so far. Let’s talk about our sponsor, Belly Trim XP.
Let’s face it, so many people are overweight right now and there’s something you can do about that. The good people at BioTrust have put together a capsule called Belly Trim XP and it is loaded with all natural ingredients that come from Mother Earth called conjugated linoleic acid. And it will help you lose that stubborn belly fat. If you go to trimwithdan. com, you can save over 50% off the regular price.
But think about this. Being overweight leads to so many other health problems right now. You need to work on this now. And not everybody wants to go to the gym. Not everybody wants to eat right. You need an edge. And if you look at Belly Trim XP, it’s done wonders for people. So many people have ordered it from the channel. Take a look at it today. Go to trimwithdan.
com. But you need an edge. Look at Belly Trim XP before it’s too late. You’ve got to take your health seriously and you can do something about it. By taking this. Check it out today. I love stories like this that show us exactly how things are. First thing, Debbie sent me a great story out of the Columbus, Ohio area where investors think about this. In the last three months in Ohio, have bought 600 properties.
Wow. Okay. In the Cleveland area alone, they bought an additional 203 Properties. And what they’re doing is they’re buying these at a discount and they’re going to rent them out. You’re going to have housing communities that will be filled with renters. And you can Sit there and say, this is Blackstone and Blackrock, and whoever it is, it doesn’t matter, but you’re going to have not the same effect as owning a home.
Now, what they’re doing is they’re going to the areas that real estate is less expensive. They’re not going to Beverly Hills and doing this. They’ve also done this in Arizona, in certain areas, but the Arizona areas kind of peaked, guys. It kind of went up, and you’re seeing problems with this. A lot of builders are offering incentives right now. I am getting so many people that are sending me messages about how the builders are offering buy down rates.
And one guy sent me, hey, Dan, you’ve got a 4. 75% interest rate to start. And every year it goes up 2%. 675875. And it’ll go at the current market rate at year four, which is going to be catastrophic. But don’t worry, it’s going to go down and it’s going to be 2% again. Believe what you want, guys, but I’m telling you, there is a different mentality when someone rents a home and when someone is purchasing a home, it’s completely different.
It’s okay to have renters in the neighborhood and I rent houses. There’s nothing wrong with that. But it’s not my house. That’s simple. Hey, you guys, fix this, okay? Come on. It’s ridiculous, okay? But to sit there and think this is how the world’s going to be is outrageous. It’s not going to happen. And then the other end of the spectrum, Kevin O’Leary, you need to have $5 million.
And what I would recommend you do is go to Southern California and buy five average houses in Southern California. The article is below. This is insane. And just think, if you pay cash for this and you take your $5 million, you can live for the rest of your life for free and just live on the rent that you get from these people. Now, is that insane? Is that how out of touch? And as the article says, tone deaf that this is.
But once again, Mr. Wonderful, again, I think he’s got a lot of good, solid financial advice. And when he talks about relationships and marriages and how it’s a partnership and people need to look at this and people jump into marriage too quick and they need to understand the long term ramifications of this. Okay, I could go on for 3 hours about that, but my point is that who’s got $5 million? If you have $5 million, are you worried about anything? For those of you out there that have $5 million in the audience, please share this with us, because if you do, I’m sure you don’t have a care in the world.
LisTEn to that idiot talk about that. And the Final one, my friend Dave sent me this One. And it’s like, what a contrast. 45% of all realtors are having trouble paying their own rent right now. Why is that? It’s booming. Things Are great. It’s an Industry that is doing so well. It’s not doing well. And you have People that are absolutely not making it right now. And the other thing that we’re seeing here in California, you’re seeing a real problem with realtors that can’t call themselves realtors now because the National association of Realtors owns the copyright on that.
But real estate agents are having a difficult time because people don’t want to pay a buyer’s commission when they list their home. We’ll negotiate it. Bring us a buyer. Why are we going to put down 3%? Why are we going to put down Two and a Half Percent? That’s crazy. What are they doing? And again, you’re going to see a complete shakedown in real estate and how these people are paid.
But once again, it’s all about Perception. It’s all about looking good instead of being good financially. So you can go out and buy yourself $800 shoes and glasses that cost $1,000, in a suit that cost $1,500. But you can’t afford to put gas in the car to take people out or charge your Tesla, for that matter. Okay, so share your thoughts on this stuff so far, but this is how bad the economy is, guys.
RighT now, remember, the 99% of the People Are not going to do well. It’s the 1% if you don’t cut back. Now, you are Kidding yourself. All these lessons in credit card debt, this is what this is, guys. This is your cutting back right now. IF Your business is wasting money in any way, shape or form, that’s on you 100%. If you don’t have your subscriptions down and what you’re spending every month.
And know this, I finally got my son on a budget. He’s like, wow, I had no idea how much money I was wasting every month. Good. Yeah. Okay. He’s 22, guys. Okay. Do you have that? Do you have a budget? Everybody should have that. Share your thoughts on this stuff. One thing that I get a kick out of is when you see the reality of a shopping season right now, you’re seeing massive amounts of inventory for high end retailers.
Places I don’t shop at, but Saks Fifth Avenue, Harrods, Burberry, all these places with high end clothes, high end purses, high end luggage, high end things like that, have massive amounts of inventory. And great article out of the Wall Street Journal Talking about how sales were up 22% during the health Cris and people were spending like crazy with money that they didn’t have. And that was the doom spending, guys, we talk about doom spending where people think, okay, it’s over, I’m done.
No, people have no money right now. People are tapped out. The problem with it is that these stores have admitted that they could do a 60% reduction, even with their high overhead and still not lose money for that. That is crazy, guys. But we don’t like to discount things. It’s not in our nature to do so. So it’ll be interesting to see what happens with this. But great article below talking about how all these high end products are just left and nobody’s purchasing them and it’s going to be a bleak shopping season.
So next thing, have you guys heard of Smile Direct? This is a company where you can get basically braces through the Internet. They send you this initial thing, you put it in your mouth, fit, it, shows how crooked your teeth are. You send it in and then they send you replacements every month or so that will eventually straighten your teeth. And you can go to a dentist or an orthodontist, excuse me, and get this done and drive down the street.
But smile direct was going to save everybody money. And there’s people out there that are halfway through getting their teeth straightened and they just went bankrupt. Oh, that’s bad. So the bankruptcy is out there and this is terrible. So these poor people are experiencing this and who knows if they will get through this or not. So I think the company’s finished. They’re going to liquidate. And it will be interesting to see if people get through this and if they get their teeth straightened or not.
So share your thoughts on this stuff so far, just a few things. To finish up this short video, Jody sent me a great email about Mountain View Credit Union that had the attack and that they are still not open, cannot get access to money. And he said, listen, this is important that people understand that. You’re right, Dan. You need to have extra cash. You need to have a separate bank account because they still can’t get access to their money 100%.
And it’s been ten days now, so that’s awful, guys. That should scare you. Steven sent me the story this week about the bank closures and now sent me this graphic. Look at this. This is the UK. This is the anticipated number of bank closures. Look at that. Look at how red that is. Is that insane? So that shows you how many bank closures that are going to happen in the UK that’s coming to a city near you.
Now. I love this one final story. Jeff Bezos lives in a wealthy enclave in the Seattle area. And once a year they do day of service. And the day of service is not spiritual. It’s a cleanup day. And everybody comes out regardless of who you are. Even if you think you own the place and you’re Jeff Bezos, you need to come out here and you need to pick up trash and clean up the community.
And Hunts Point needs your service. So they are furious with Jeffy Jeff that he didn’t want to show up and he didn’t want to pick up trash. Him and the weather girls mention the weather, know. Okay, it’s kind of funny. It’s like, come on. Okay, but just read it because it’s funny. It’s from the New York Post and people are just lambasting this guy. But he’s also moving to Florida and he also says he wants to buy many more houses, too.
So again, how many houses can you guys sleep in in one night? Tell me that. Answer that question. Can you do four or five? Want to have people over in the weather, girls, family, maybe her brother, because they get along so well. Story for another day. Anyways, please don’t forget to the like button. Please don’t forget to join our Christmas card list@iscretsana. com. If you want to email me anything like all these people did, it’s hello@iallegedly.
com. Thank you for being here. I appreciate each and every one of you so much more coming out. Onward and upward, guys. I will see you guys very soon. .
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