➡ The speaker discusses the financial struggles of various businesses and individuals, warning against dipping into retirement funds during emergencies. They also predict a long-term economic slowdown and suggest that mid-level restaurants may not survive. The speaker encourages people to help each other, such as babysitting for family members to allow them to work extra shifts, and emphasizes the importance of communication in overcoming financial difficulties.

Hey, it’s Dan. Welcome back. This is IAllegedly. And I’ve got a good one for you today because we’re gonna talk about why the American consumer is just completely fed up. And please hit the like button, please subscribe to the channel, but let’s get right into it. You know, one thing that the media does that’s funny to me is they talk about something that happened today. Oh my god, look at what’s going on now. And as far as inflation, as far as a bad economy, that’s all I’ve talked about, guys. And whether you’re a friend of mine, family member, client, subscriber to my channel, we’ve been real with this over the course of the last few years.

And come this week, I’m gonna have five years that I’ve been doing this channel. And one thing that’s crazy about this is inflation and all the problems with the economy just didn’t start, you know, in January. It’s been going on for basically since January 2021. And people don’t have the money to go out and buy food. They don’t have the money to go out and go on vacation. Airline tickets are at an all-time high. Travelers at an all-time high. Airbnbs are going bankrupt left and right. Look at Galveston, Texas. Why Galveston, Texas? Because these people went out and bought houses.

Think about what I’m about to tell you. They went out and bought houses for Airbnbs because we’re gonna make a million dollars. Galveston, Texas sells 70 houses a year on an average. 70 houses a year. There are over like 1,200 houses for sale right now. Guys, it’s gonna take like 15 years to unload the inventory in a normal productive year. That’s not going to happen. You’re going to see people wash their hands and turn houses back to the bank in that one city alone. End of story. No two ways about this.

You’re buying power since January 2021. The average family of four has made it to where you needed to earn almost $1,300 more a month. $1,246 a month. Hello, a lot of money, guys. Everybody that I talk to that has children talks about how expensive everything is. From clothing, to daycare, to sports, to everything that they do. Your kids want to dance? Oh my god. Do you know what those little outfits cost now? They’re outrageous. And the problem with it is it’s everything right now. It is absolutely everything. Now, this has been curtailed and cut back a little bit to where it’s a minimum of $1,000 a month right now.

You know, you’ve got all these different figures. You know, you’ve got $1,000 a month, you know, $146 extra dollars a month for food, $127 in energy, which is nothing. You understand? Flipping the lights on, guys. Making sure that it’s bright outside or inside your house doesn’t do anything for you. $236 extra for shelter. That is terrible, guys. It’s absolutely outrageous. And it’s unbelievable, guys. It’s absolutely nonstop. But people cannot get a break right now. And if you grab hold of this right now and you understand that it’s not just you, you’re not suffering, you’re not doing something wrong.

This is being done to every single one of us as we walk down the street. I was invited to Las Vegas for a meal on Friday. Wow, okay. A really cool restaurant called Golden Steer. We have an extra spot. We’d like you to join us, Dan. Oh, you got it. Okay, so I hop in my car, drive three and a half hours and go to Vegas. Now, the staffs on Vegas should say it all. Right now, it’s almost off 5% of their revenue and profits for all these different places. People don’t have the money to go gamble.

They don’t have the money to go out and go travel and do things like that. Okay, that’s that’s interesting to say the least. But it is absolutely everything. I want you to think about this. The four vets, they had this thing called a, I want to make sure I get the name right, because it’s a absolutely beautiful car. Okay, the C8 Corvette came out and this new body style, it was basically a supercar that was listed for under $75,000, which is a tremendous amount of money. Don’t get me wrong, that’s not the point.

The point of this is that dealerships were clipping people and selling the car for $30,000 and $40,000 above sticker price, because you were stupid and you would pay for that. Now, I did a story on this basically three years ago about the excess prices of cars and how inventory was just through the roof and all that stuff that we talked about. Now, with that being said, the Honda Corvette, the Chevrolet Corvette right now is something that does not sell right now. It is not moving. Right now, there are 5,500 four vets sitting on lots right now that are brand new cars.

They’re not old, they’re brand new guys. And you know what? Nobody wants them. Nobody wants them. Nobody can afford it. Now, here’s the thing you can typically go, again $75,000 for a car, who can afford that? No, no, no, no, no. sticker price is now $68,000. They’re starting to sell these cars under manufactured sticker price. There’s places advertising them as low as $58,000 for these cars, and they still cannot move the car right now. How about that? That’s unbelievable, guys. It’s absolutely wild. Now, here’s the thing. Corvette came up with a really, really deluxe model that they were convinced that this was going to be the thing that was going to put them in the League of Ferrari and McLaren.

And cars like that, you know, this car that would go, you know, 194 miles an hour as a production car, and it was the ZR1 that was going to retail starting at $174,995. Guys, no one’s buying the car, okay? Few people, but that’s it. That’s it, guys. So, this is what you’re seeing all over the place. Now, everybody’s cutting back. It’s not just your household. Whether you live alone, whether you’re single like I am, okay? Does it matter? Everybody is spending less money right now, okay? I get people that write me, where would you take your kids if you didn’t want to spend money? Oh, God, I was an expert at this, guys.

You know, whether it be the park, whether it be different fun things to do at the zoo, where you could buy one ticket, get one free, and the kids don’t know they’re getting a free ticket to go to the zoo. Things like that I would do over and over and over. I would take them to places like this, and we would go do fun stuff. There’s craft places, all the stuff, but families are hurting right now, and they’re cutting back. Whether they’re young, old, retired, it makes no difference. Now, here’s another Corvette report that was crazy.

There was a manufacturing plant in Kentucky that was making Corvettes, and eight new Corvettes got stolen out of the factory. Who’s gonna get fired for this? No. Think about what I’m telling you. No security crew. They cut through the walls and snuck out eight Corvettes. How did these geniuses get caught? They started to call car carriers. They drove brand-new cars to apartment complexes, and were like, hey, I need you to transport this to Michigan, and they got caught trying to transport the cars using car carriers. Couldn’t drive the cars. Couldn’t do that.

You just wanted to push them on a car carrier. Great story below about this, but I’m telling you guys, absolutely crazy. You’ve got all these businesses right now that are trying to tell you how difficult it is right now. It’s funny. PGI Fridays. Bankruptcy, trying to come out of bankruptcy. We’re gonna come back stronger than ever. Have you ever went to TGI Fridays and said, oh my god, I love the food there. I love deep fried fatty goodness. I can’t wait to go back to TGI Fridays. No one has ever said that.

You go there to watch a game. You go there because you’re gonna meet somebody new. You go there for something simple to eat, or all you could eat appetizers prior to their bankruptcy, right? That was it. I mean, the place is not something that was desirable in any way, shape, or form. So, but they think they’re gonna come back stronger than ever. A great restaurant, Bar Louie. Just an absolute asshole, okay? I have never been into a Bar Louie since 2018. I used to go buy a lot of movie tickets.

Like, if there was a big movie, I’d buy like 20 tickets in the theater, and we’d all go see it together with a bunch of friends. It was always an event. In 2018, there was one of these, and there was a Bar Louie next to the movie theater, and they were like, as I walk into this bar, this gastropub, this dump with fried food, with fried cheese, if you have a reservation, I’m like, no. Well, you know, here’s the drink. We’re not gonna drink. We’re just gonna eat something quick. You’re not gonna drink? Oh, I’m sorry, you’re gonna have to wait, okay? Wouldn’t see this because we wouldn’t drink alcohol, okay, which I thought was funny, and I just wish their demise.

Well, they’re in bankruptcy court, and they just shuttered another 44 location, okay? Again, who’s eating crap like that? Who’s going out and spending $25 on nachos, okay? That sounds like fun, Dan. Sounds great. Let’s go do that. Cheesecake factory. You ever been there? Every time you go to a cheesecake factory, guys, there is a line, which I do not understand, to save my life. I do not understand what the line is at Cheesecake Factory. They have over 250 items on their menu, and they’ve got, just hit the news because they just eliminated 13 items.

If it would save your life, you wouldn’t be able to guess what they got rid of. So, there’s that. Coles. Coles is gonna officially close 27 stores. The list is below. If you like Coles, you know, again, when my credit was bad, Coles gave me a credit card, so I always have a soft spot for that, but so much is happening. You know, one thing that’s disturbing is emergency dipping into your credit card. You’re going to go to your retirement fund, and that has increased to where almost five percent of the people out there took an emergency withdrawal out of their 401k or retirement fund.

Guys, do not do that. Do everything you can not to do this. I’m telling you, don’t put fires out. Now, if you’ve got some healthcare issue, if you’ve got a cash problem, if you’ve got something that, hey, they’re not gonna, they’re not gonna listen, Dan. I’m telling you, exhaust every avenue. Exhaust every avenue. Work every payment program out that you can. Do everything you can to make it as good as possible, so you will not have to dip into your retirement like that, because man-oh-man is that awful to do that.

You know, you know, I love these stories about how, hey, savings up, savings are not up. You can go to CNN in a day, and CNN will give you an article about how people are fed up. People have no money. People are tired, and then there will be two stories later. It’ll say everything is great, savings are up, people are seeing a turnaround. No, they’re not, guys. This is going to be a slow demise. It’s going to be a longer slowdown than we anticipated, but this didn’t just happen recently.

This has been going on for a long period of time. The tariffs are going to be like a tax to some people. It’s going to affect everything, but to sit there and say that what the average tariff is going to cost the average family another thousand dollars a month is mathematically impossible. It’s not going to work that way, and if anybody wants to defy that and tell me how you’re going to do that, let me know. Let us all know, because it’s not going to do that. Not everybody’s going to buy things that are tariff related, and you can say everything’s tariff related.

No, it’s not. This is a really cool spot, too. A place called Sam’s Town that people recommend that I come to. I am basically indoors, but I’m not, and outside if that makes any sense. They’ve got the big skylighted room. It’s a cool, cool spot, man. So you are not alone with all this stuff, you know, and again, don’t dip into your savings, you know. We are going to face a long-term slowdown, and if you know that, you’re going to be fine. Everybody I’ve talked to, people at dinner last night, they’re like, oh, here’s how we’re preparing for this.

Work together with friends and family. Work together. Offer help if you are a grandparent or if you are an aunt, and you could babysit for somebody so they could get an extra shift in. Do that for people, because that’s the kind of thing that will make them money, and you get to spend time with the youth of America, okay? Come on, have a good time. I don’t think that these mid-sized restaurants, these mid-level places, are going to survive. I don’t think it’s in the cards. I think that you’re going to see more of these places go out of business during this, the next year, because, you know, the Applebee’s, IHOP combo, where they’re going to mix the restaurants and put them together, no one living, no one.

Not one soul has go, oh my god, I want to mix these two restaurants together. It’s going to be amazing, other than the CEOs that are trying to save their job. That’s it, guys. So, let me know what you think about this. I always appreciate all the input. Don’t forget we have a private channel called iAllegedly Live, where it is uncensored, and we talk about stuff that you can’t talk about other places. Oh, look, there’s a little animatronic, I just noticed this as I’m getting ready to leave, little animatronic here.

Isn’t that nice? So, anyways, hit the like button, subscribe to the channel, and don’t forget to join our email list, guys, because one’s going out very soon, so you don’t want to miss it, but the link is below on that. Onward and upward, guys, I will see you guys very soon. I appreciate each and every one of you, thank you for being here, but man, we’re not alone, guys. Everybody’s experiencing this. This is how this is going to be, and if you work on it together and work on your finances, whether you are by yourself or you have a huge family, I’m telling you, you can get through this.

Communication is the key with everything I’ll see you soon. [tr:trw].

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