People Are Getting Gore Desperate | I Allegedly
Summary
Transcript
Hey, it’s Dan. Welcome back. This is I allegedly, and I’ve got a good one for you today because people are getting more and more desperate right now, and we’re going to the beach. That cures there. So please take a second. Please hit the like button. Subscribe to the channel comment, share the videos. And today we have a sponsor, Patriot Gold. I will talk about them a little later.
But first things first, guys. During economic downturns, whenever we have one, you have to look at where people are getting money and where they’re spending money. And the Biden administration can absolutely lie to us and tell us that everything’s great and that there’s no situation and no worry in the, you know, inflation is killing all of us, guys. It’s hurting everybody. And you’re starting to see that in food shopping, how people are spending less.
You’re seeing it at the restaurants, you’re seeing it at retailers, you’re seeing it vacations. You’re seeing with people planning and how they’re just spending less money from everybody. People in the auto sector that tell me that people are putting off simple maintenance, even things like oil changes, because they can’t afford it. Because the oil changes basically have doubled in price and people can’t even afford a simple oil change.
But what you’re seeing that’s absolutely disturbing right now is you’re seeing something that we saw last time during 2008, and that was a spike in all of the pawn shops and the pawn shop inventory. Now think about this. You’re somebody in need of money, and you are desperate. I can get you money in literally minutes by walking into a pawn shop. It’s very, very easy. You can take something that’s worth something, and they will basically figure this out in a matter of 15 minutes for you.
They can work out a value of what they will lend you. And basically you get a loan that’s basically about five months long. And they will tell you what the interest is going to be. And let’s say you have something of value. They will then say, we will lend you this much against it. Now, if you don’t make the payment and you don’t pay it, it becomes the property of the pawn shop.
And then they will sell it, which is a great place to buy things of value, because sometimes people sell things with no intention of ever going back to pick it up. So one thing that we’re seeing right now is we’re seeing the inventory at pawn shops explode right now. Great article below about this Clay baron who owns a pawn shop and has done it for decades, has said, I have everything of value.
I have everything from gold, silver, power tools, belt, know, boots. I have things of value that people have pledged for money to get quick cash. Now you can sit there and go, wow, these people must be really desperate. This is what happened during the last economic downturn. I spoken to several pawn shop owners about this, and they told me, hey, people will bring Rolex watches in to make payroll.
And one thing that they would see is, okay, these watches, when you add them all up, we’ll lend you $25,000. The guy then would go make his payroll and then come back with the money. And what he would routinely see is that over the course of a few months of this, going back and forth, that these people then would all of a sudden say, hey, I’m only picking up four of the five watches, then three of the four watches, and then maybe two, maybe one, maybe none of them, okay? Because they’re out of cash.
So that’s where we’re at right now. Now, Clay Baron says, I have everything in my store but space right now for this. So people are out borrowing money like they’ve never done it before. And again, guys, this is the sign of the times right now. You’re not the only one struggling. This is happening globally. Now. Think about this. There’s also publicly traded pawn shops, which I didn’t know, but there’s one of them, First Corp.
That owns 1200 pawn shops, okay? 1200 pawn shops. And these guys are out there lending people at a massive pace and saying that inventory is up almost 10% right now, which is staggering. Guys, that’s just in the first part of the year. In 2024, you’ve got that many more people that are trying to get money quick to get their lives fixed, okay? People are desperate. There was a tv show called Hardcore Pond out of Detroit, and Les and his family owned this pawn shop.
And it was really great because Les would say things like, where do you get $20 for gas? Where do you go? You can’t get it. You don’t have a family member. You don’t have anybody to lend you the money. So you come to the pawn shop, and it was just a wild story. Wild stories and wild places to see. But that’s what you’re seeing more. And then you have easy Corp.
Which has 500 stores and the same thing. So 1700 pawn shops that are publicly traded right now, that are seeing inventory go through the roof right now, okay? This is the beginning of this, guys. This is how bad it is. You’re not the only one experiencing a downturn, okay? You’re not the only one. Now, one thing that’s happening out of China is Gucci. In China is suffering massively because people are not spending money on Gucci right now.
And great article below about this, about how for the first time in years, people are cutting back and not buying the high end merchandise because they can’t afford it. Okay, forget China for a second. Then you go to the Swiss and you go to watches. People don’t have the money for high end watches right now that they had in years past. So they’re not buying the Rolexes. But then again, the inventory, let’s just use Rolex as the example.
There’s a lot of high end watches that people collect and buy. When you look at these watches, guys, and you see the inventory going up and up and up, I tell everybody, people write me, go, hey, where am I supposed to find a good deal on a car? Where do I find a good deal on a boat? I’m telling you, start with a pawn shop and say, what do you guys owe? Do you own any motor vehicles? Do you have any atvs? They have that type of inventory seen, you know, pawn stars with Rick and his family buying stuff.
And that’s not fake, guys, those guys buy cars, they buy atvs, they buy things like that. And they have second places to do that. Now, if you go to a large enough pawn shop, they’ll have things like that of value that you can purchase. And you know what they want to do? Turn cash. That’s what they want to do. So you’re seeing all these different inventory rise from all these different places that have the same problem globally.
It’s not just one city or one area. It is around the world. You’re starting to see people have less money. Do you see the problem yet, guys? Do you see where we’re at with this? So let me know, guys, let me know what you think about this. Because one thing that you’re seeing that’s interesting was somebody sent me, hey, have you noticed what matches is doing lately and how people with matches, well, matches, I thought they were matching prices.
Now, matches is the name of a discount retailer in the UK. And what they do is they basically take inventory from other locations and sell it. We’ve got the link below so you can take a look at this. But what floored me was people would go out at matches and they have things like 1000 pound torn jeans. It’s like handbags for 2970 pounds. Crazy, crazy figures that people are looking at.
But again, their inventory has gone through the roof. The sales are down for that place as well. People do not have the money right now. They don’t have the money. I had one subscriber write me about how his dad was inside of an HOA and passed away a few years ago. And the guy that ran the HOA was stealing money and just got charged with a $1. 6 million crime.
From police to the HOA. And again, I love stories like this when you guys send me insider information because it’s not just third party stuff. But read the story below because the story is attached. He didn’t give me the okay to use his name, so I don’t want to call out his name. But the point is that people are getting so desperate. These people are stealing from your hoa.
Remember we talked about verifying everything? The rich people of the world are having trouble right now. They don’t want to embarrass us by going out and showing off their new cars. They don’t have the money, guys. They don’t have the money. You’re seeing people spend less on going out. You’re seeing more and more problems where people have stolen money, $1. 6 million. And this person that did it had a reputation for doing it over and over and over again and would get fired from one hoa and then get hired at another one.
Craziness, guys. Absolute craziness. So let me know what you think about this. The other thing I want to talk to you guys about is I’ve had a lot of people, I don’t know what the rash of emails and questions is lately is what do you think about this, Dan? Do you think that we could be potentially in trouble and people that went out and took out PPP loans, Florida is a hotbed for this right now.
So many people in Florida have taken out PPP loans and lied about the use of what they were going to do with the money. Bought cars, lived high on the hog, bought watches, bought trips, bought just lavish lifestyle. And just thought, I’m just going to get this forgiven and not have to pay it back because that’s what’s happened during COVID No. Now they’re investigating this so much so that there’s a separate FBI investigating division just for Florida right now because there’s so much trouble.
And I’m telling you guys, if you think you’ve done something wrong, you’ve done something wrong, you’re in big trouble because they’re going to spend years researching this stuff and they’re going to arrest these people and they’re going to call these loans. Should. If somebody calls the loan in and you’ve done something bad, that should be the greatest thing ever. Now, one other thing that I’ve talked about lately with some shorts and things like that is the Shohei Otani situation.
We’re supposed to believe that this guy’s best friend stole four and a half million dollars from him and that he didn’t know that this guy was gambling. He had no clue, no, nothing. I don’t believe that for a second. The advantage to this is that the investigators are going to go through this guy’s bank account, and I have gotten dozens and dozens of stories sent to me. But the one problem this guy has is now the tax agencies want to talk to him.
What are you doing sending people a million dollars? They want to know how you got this money, where it came from, did you pay taxes on it? And now you’re sending people a million dollars via wire transfers to gamble. Oh, okay. But he didn’t bet on anything. Shohei didn’t place any bets. His friend, who is his best friend, just stole four and a half million dollars from him.
Okay. So again, believe what you want, but I don’t believe this. It doesn’t smell right. It smells like bad sushi right now. Okay, so let me know what you think about all this stuff. There’s so much to talk about. I have had friends right now talking about business partners and how, again, you are starting to see numbers that we’ve not, never seen in decades. As far as the foreclosures, as far as how cities are seeing a lot of inventory go up.
As far as the delinquency rate. Now think about this. The charge off rate, that is when somebody is three months past doing a credit card that is skyrocketing right now, where people are not paying their bills right now. Gone through the roof. I want to read you these two areas that have absolutely floored me. It’s a list of 50 different communities. The highest delinquencies that are potential foreclosures.
Okay. The one that stood out to me that I had so many people write me about, North Carolina. Charlote, North Carolina. Oh, it’s the greatest city. We’re not experienced anything. How about 22% of the loans are in delinquency right now? 22%. That’s shocking. Pittsburgh. Eleven and a half percent. Portland, Oregon, 17. 4%. Raleigh, North Carolina, 1. 7%, which is not bad at all. San Francisco. There’s the granddaddy of them all, 18.
5%. Okay. Then you see, like, San Jose at 1%, Tampa at 2. 8%, Virginia Beach, 11%. It gets concerning Hartford. Hartford, 36. 4%. Ouch, ouch, ouch, ouch. Houston is at 10%. The list I’ll include. Crazy guys, a lot of people not paying their bills. Now, here’s the thing. Client of mine calls me today and says, I need to talk to you because I got to ask you about a situation and what you would do.
He has a key employee with this company that was offered a job from a major bank. Let’s just say through signature bank, they got taken over by other places. And because of the rash of business foreclosures that are coming down the road, they offered this woman a signing bonus of $50,000 because of her expertise. Come here now. Get here now, and we’ll give you 50 g’s. Okay? He’s like, how do we compete with that? I’m like, you don’t compete with $50,000 to a single mom who knows the industry better than you and I will ever even think about it.
I mean, you can’t compete with that. How do you compete with that? But again, people are getting desperate. You’re seeing craziness go on when it comes to the commercial. Foreclosures are going through the roof right now, guys. You haven’t seen anything yet. The residential foreclosures are going through the roof. The retailers are going out of business. Everything is completely turning around and completely upside down right now. But we’re supposed to believe it’s all good, guys.
Remember, it’s all good. There’s nothing to worry about. But the pawn shop inventory. I’m telling you guys, do yourself a favor. A lot of people are like, have written me and got ten. Pawn shops are in the worst part of town. I would never go in there. Go in there. If you guys want to buy something, go in there and check it. Know, when you go to, you know, gold and silver pawn shop in Vegas is a line usually down the street every time I drive by that place.
But it’s Hollywood now. It’s not the same. It’s not the same as your local pawn shop in Costa Mesa, California. Okay, so let me know what you think about all this. So far, it’s been raining. We’re supposed to get rain at the end of the week. But I want to know what you think about this. Do you think that everything’s good? Do you think that things are solid right now? Do you think this administration has done a good job.
Do you think that we’re going to see people get through this? Okay, and what would you do? Seriously? You have an employee that comes to you and says that they got a $50,000 signing bonus offer and oh, by the way, more money than you guys are paying her, by the way, what do you think she’d do? What would you do? Let me know. Let us all know. Okay.
Take the money, Dan. Okay. Let me know what you think about this so far. Okay. Let’s talk about our sponsor, Patriot Gold Brew. You know, when you think about our economy and we talk about all these things, you have to look at protecting yourself in the future. The thing that I do and the best place to go to is number one rated patriot gold group. You can call them or you can fill out the form below and you can get a free investor guide.
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All the experts say it’s going through the roof, guys, and only going to go higher. You’ve got so many banks and so many central banks buying gold. Protect yourself and your future. Call them today, 888-330-1431 let them know that Dan from I allegedly sent you and contact them today. It, when I was a kid we would go climb in these caves and they get cleared out with the tides going in and out.
They’re not that deep right now. They’re kind of fun. I’m going to finish this video with these last few stories, but it’s fun to come down here. I mean, when I was a kid and I was trying to think when I was down here, I was like eight and we’d go in the caves. Just very, very cool place. Lots of memories. But one thing we talked about in the last video was the Boeing problem.
And Boeing’s CEO and a total of three executives are leaving. Dave Calhoun is giving his notice in a statement he issued by the end of the year. And again, does that make you feel better? No, I think it’s the head and a chopping block, guys. I think it’s the minimal that could be done for that guy. The next thing is here in California fast food wages go to $20 an hour next week.
So what’s happening? Fast food stores are cutting hours. Hey, we close at 09:00. Now you’re seeing them go with the bare minimum of a staff and they’re getting rid of people right now, and there’s layoffs. Read the story below because you’re going to see more and more people get fired right now and lose their job over the course of the next week. It’s sad. Okay. And they just had the pizza show in Vegas where everything, pizza, everything about automation, everything about everything from sauce, preparation, everything.
There’s now machines that can make pizzas. You don’t even need an employee to make a pizza right now. That’s going to be the future, guys. You’re going to see more and more things like that with automation where you don’t have to pay somebody $20 an hour and you just have an initial investment and then maintenance and that’s it. Oh, the maintenance guy’s here to fix the pizza machine.
That’s nice. Have him do it when we’re closed. You know what I mean? Final, final story, which I love this, and this is ingenious. And for you landlords out there, pay attention to this and read the story below. And that is all these squatters that have come out and taken over houses here in California. It’s a huge problem. Hey, you can’t evict us. You got to give us a ten day notice.
You got to file an eviction. Here’s the one thing that you are allowed to do. Hi, we’re the owners of the property. We’re coming to inspect the property. All you need to give in the state of California is a 24 hours notice. So they’re showing up with some big dudes, some heavy chaps that are no nonsense, and they’re changing the locks and we’re inspecting the place. Oh, it doesn’t look safe.
Yeah, we’re going to board the place up. They will put wood in the windows, they will change the locks, and they will just say, that place isn’t safe. And you know what they do? They take over their own properties again. So you people that are out there thinking about what can I do to get these people out? We’re going to just do an inspection and you can kick the door in and break it in and you can do all that fun stuff that these guys are doing.
But hey, we got to inspect the property. You have to allow it. That’s the thing. California law. I need to come inspect the property on Thursday. Dan, you got to let us in, okay? It’s great. So there’s a solution to this stuff right now, guys. But these problems, these people have taken over these properties. Horrible. Okay? I love Laguna. I love the tide pools. When the tides like this, please don’t forget to like the video comment, share it, subscribe to the channel, join our email list, and boy, oh, boy, do I have a good announcement coming very soon.
So I will see you guys very soon. I appreciate everything. You want to get a hold of me. Hello@iallegedly. com? Is the best email to write me at. Okay, I’ll see you soon. .
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