People are Going Broke to Look Rich | I Allegedly

Hey, it’s Dan. Welcome back. You’re watching. I allegedly. And I’ve got a good one for you today because there’s a lot to cover in the economy, from people getting excessive car loans to hotels being sent back to the bank, to hotel fees collapsing, everything. But one thing. I wanted to take a quick note, and I wanted to thank one person. When I was on my trip last week, I was on the cruise ship, and there was a three story staircase, and I was walking down, a man yelled, hey, YouTube.

YouTube, blue shirt. I look up and I waved, and he said one thing that just really stuck with me, and it was mom yoga. Okay. So some people love it, guys. Okay. Some people can’t get enough of it. So thank you, Jeremy. Okay, don’t forget to hit the like button. Subscribe to the channel. And today we have a sponsor, Chuck Norris and morning kick, which I will cover a little bit.

But there’s so much wild things happening in the economy. I’m telling you guys, if you don’t see what’s happening around you, you are foolish. You need to be fiscally responsible right now with what is happening globally. First things first, Adam sent me a great story about how car loans for some people are getting out of control. Now, I know people drive trucks and drive cars as a status symbol around this country.

And the problem with it is that people, because they’re so desperate to get themselves into a vehicle and have that look that they would risk financial suicide. Okay. There is a great story below about how people have car payments that you wouldn’t believe. Okay, how about this? A Denali pickup truck. Okay, duly. Nice car. How about a $2,550 a month payment? Wow. Dan. That’s a big payment. Dan.

It is. It’s a huge payment. How about that? For 84 months. 84 months. $214,000 worth of car payments for that truck that’s not worth $214,000 and will never be worth. That was never worth what the man originally paid for it. What you’re seeing right now with delinquencies on vehicles is the highest that it has ever been. The biggest area of people that are failing right now are people between the ages of 18 and 39.

It’s the younger people that are losing it that have to get themselves, got to get a car, got to get. And they can’t go out and buy a junker. You got to buy something really nice and have yourself a payment. But the killer, killer garbage loan of all time that I’ve heard of was. And I had to pull out the calculator for this one. $3,000 a month for a tahoe.

Okay? New Tahoe, 2023 Tahoe for 96 months. Guys, that’s $288,000. That is over half of what it would cost you for the average home in this country. So you get to drive a vehicle that will be worth nothing someday because they all go to zero at some point and are a depreciating asset that you put money towards. Okay? So it is insane that people are out doing this.

It is insane that people are spending this kind of money. But the delinquency chart. Read the story that’s attached below. Because people are behind, more than ever, 60 days, 90 days, repossessing cars. That industry right now is absolutely booming right now, like it never has before since the great Recession. So we’re not in a recession. Things are great. Things are fantastic, but they’re not, okay? And people are out there trying to finance their way to success, and it doesn’t work, guys.

Doesn’t work. So when you see stuff like this, you just have to laugh. Okay? I have seen so many times. One thing I do, living in southern California in a higher end area, here’s the helicopter coming by. One thing is, when I see a really nice car, like a Ferrari or a Lamborghini or something that I know costs the skies. Oh, that’s the coast guard. Isn’t that cool? There it is.

So when I see something like that, I always look at the registration tags, and I’ve seen cars that have been. Haven’t had tags for years because for a legal registration for years. And the reason for that is that it costs, can cost five, six, $7,000 to register these cars. Oh, okay. So they can’t afford that. And the guy’s pumping gas. The greatest story ever was when a guy kept putting credit card after credit card in decline, decline, decline to fill up his Lamborghini.

But I digress. So anyways, guys, it is crazy right now with what we’re seeing. Now. Here I am at the montage, and I want you guys to understand this because I looked it up today. The cheapest room at this hotel room at this hotel today from the discount sites is $1,000. Now, where I’m walking, where they do mom, yoga is free, okay? It’s the free area that you can walk out here.

But to go out and to spend a $1,000 night in a hotel room is insanity right now. It’s absolute insanity. But that, guys understand, that’s the room that faces the street. It doesn’t face the ocean. Oh, Dan, you want to see the ocean view? Look, guys, the link is below to get yourself a decent room here. $2,200 a night. $2,200 a night. You can check in at four.

You got to get out by eleven. We got to clean the room for the next sucker. So you know what I mean? Now understand this. I’ve seen Mark Cuban stay in these houses here twice now, and that is super wealthy. He’s a billionaire, guys. He doesn’t care about spending $13,000 a night in a hotel room. But this is crazy. What you’re seeing is more hotel prices imploding. There is a great story out of Oakland, and we’ve heard about Oakland, guys.

The last shred of decency in Oakland is that baseball team that is leaving Oakland is going to be a war zone. It’s going to be escaped from New York soon because of how bad the crime is. And our governor, who wants to run for president, is going to send the highway patrol there. Okay? It’s crazy, guys. It’s absolutely nuts that that’s what’s happening. But what you’re seeing when it comes to these hotel prices is that they are dropping for certain things.

Now, when you look at Super bowl, the prices for the Super bowl hotel rooms were sky high over the course of the last two months, okay? And then once the game got announced, they were just sky high with San Francisco and with Kansas City. And is Taylor Swift going to make it? And guess what, guys, confirmation. Taylor’s going to make the game because she’s on a private jet in her 14 hours flight.

And they raced her to the plane and she’s, as I’m filming this is in the air right now to come to the game. Thank God. Feel so much better now, don’t you? Yeah. Okay. So share your thoughts on this stuff, guys, because what you’re going to see is you’re going to see entire cities get destroyed. The office space that is nonexistent right now, that has an average of 30% occupancy, is only going to get worse right now.

And with that being said, you’re going to see hotels be down to nothing. Now, there is a huge amount of people that travel around the country. I’m one of them that, hey, let’s have a meeting. Okay. I’ll meet you here. I’ll meet you in Vegas and you’ll stay at a hotel, but then you’ll eat at all the restaurants and things like that. That is changing right now, guys.

That’s changing like you’ve never seen it before, so let me know what you think about that. And people are yelling, okay, but enjoy yourselves, guys. Have a great day. Let’s talk real quick about our sponsor, Chuck Norris and morning kick. Chuck Norris is 81 years old, guys. He has developed a program where it has made him the ability to work out longer, sleep better, not have joint pain.

And you can do something about this yourself by taking a look at the video that they created at forward slash. Dan. Think about this, guys. As we get older, we all think the aches and pains are part of it. But when you look at a guy like Chuck Norris, who has been in the spotlight for decades, he is working out longer. He feels better. His wife says that she feels ten years younger by being on this program.

Take a look at it today. Use the link below. Chuckdefense. com dan. But aging and the aches and pains and things like that, you don’t have to live with that, guys. You can do something about it today and take a look@chuckdefense. com. Dan use the link below. But look at what he’s doing because he can work out longer, his stamina is better, and again, he’s in his 80s, guys.

He’s clearly doing something right. Check it out today. Palms are squeezing your hips. Got three more breaths. I love the content and the stories you guys send me that I get to share with my audience because we’re all living this together. And the thing that I learned on that cruise was that I don’t care where you live on the planet earth, everybody’s experiencing the same thing. Think about this.

Layoffs Cisco, the big computer company and processing company and connectivity company. Cisco has 84,900 people. I’m always blown away by the size of these companies and how big they are, but they’re going to lay off 5% of their employees. Thousands of people are going to lose their job in the month of February. So more layoffs that we haven’t heard of yet that are not on the list. Now, here’s the thing.

There is a tech guy and a guy who has tried to raise money for startups before, and he started a new site called layoffs FYI. And the link is below, layoffs FYI. And what it does is it shows you all the layoffs for 20 22, 20, 23, 20 24. How about this, guys? There’s been 84,000 people laid off already. I mean, this is only getting worse. But our unemployment is not affected.

All these people will find a job at Taco Bell tomorrow. It’s all great. It’s all great. So there is some good news in this. And people, you don’t share this stuff, Dan. You got to share things like this. Intel just opened up a new factory in the United States. Here in the United States, in New Mexico. It’s a three and a half billion dollar chip factory, and it’s going to revolutionize the industry.

And I love Intel. I love HP. I love companies like that. Their computer chips are great, but that’s where things are headed. Now, one thing that you’re seeing is you’re seeing a lot of push away from companies that are dealing with regular customer service and using AI. I am telling you, you have to understand, there’s so many times you’re going to call companies right now and you’re not going to be speaking to a human being.

You’re going to be speaking to a computer. You’re going to be yelling at a computer. And you don’t understand. This is my problem. Thank you for being so agitated. You know what I mean? That’s going to happen more and more. So more layoffs. You’ll love this. California is trying to unionize the fast food workers. They just got $20 an hour, guys. I don’t know how much better it gets.

Well, if we could unionize these people, they would have a better life. I am telling you, you’re going to price yourself out of a hamburger. It’s going to be too expensive to go out and eat some. These people are upset that they’re only making $15 now or they’re going to make 20 inside of two months. No, we need to unionize these people. They need to be part of the service workers union, which is one of the largest unions in the world.

So we need to have them there so you can pay more. I’m telling you. Remember this term, tablecloth prices to go eat at a fast food joint. It is ridiculous to go to Panda Express and spend $20 on a meal. It is not real chinese food, okay? It’s not like going to a chinese restaurant. It is insane that we’re paying these prices. Correct me if I’m wrong, but it’s nuts.

Guys, let me know what you think about all this. Out. Now. Just a quick video this morning. Something to just come out to the beach in this great weather. It has rained all week long in California, and it’s nice that it’s like this. And you get to see mom yoga. Okay. I know Jeremy’s happy, but a couple things. I found the schedule. If you’re expecting a tax refund when you can expect to get it.

The link is below. Take a look at that. There’s a guideline on this. Laura wrote me and said I filed on a Thursday, Dan, and got my refund on a, like, it’s like her brother works there or something. It’s so fast. So congratulations to her. One thing that I was fascinated with years ago, before I even did this channel, was how many people worked for companies that made a billion dollars.

And the first guy was the one and only Jamie diamond. Okay, well, there’s an article below about three other three people that made a billion dollars working for somebody else. Steve Balmer, who worked at Microsoft, Tim Cook, who now runs Apple. And Steve Ballmer is doing something pretty wild where he is building a basketball stadium for the Clippers. That’s all basketball centric. So they’re going to be playing away from the crypto arena and kind of cool that he’s doing something like that because if you like basketball, it’s going to be a basketball arena.

So you don’t see a lot of people that didn’t start a company that didn’t make a billion dollars. So kind of fascinating. And that’s a good story down there, too. John Hussman. Okay, John Hussman is a notorious stock picker and investment guy. He called the 2000 stock crash, he called the 2008 implosion with real estate. He is ready to call the next one and says you need to ignore these all time highs right now.

Now, one thing that people have written me a lot about over the course of the last week is Bob Kudla. And I’m going to get Bob back. I’ll try to get him back this week if I can, because Bob said that the market’s going to implode between Martin Luther King day and Easter is what he said. Because I went back and watched the video again and people are like, no, he said it’s going to implode in a week.

He never said that. So have some accountability, Dan. So we’re going to have some accountability because we’re going to bring Bob on. Because when you have guys like John Hussman talking about, the market’s going to take a dive, 30%. Do you listen to that? It has been extended too long. And the other one I’m going to bring back is Jack from Patriot Gold talking about the economy. I love these two guys who live by the industry, by the financial industry, one with stocks, one with precious metals.

Where is it going right now? Okay, so I’ll bring them both back on real soon. I’ll plead with them to come on the channel. But again, guys, we’re all in this together. You have to understand that if you’ve got to just take a look at things right now, when you see entire industries being shut down, when you see hotels not having people go there and then being given back to the bank, you haven’t seen anything yet.

Crime is out of control in these cities. There were three guys arrested for stealing 75 iPhones. And they caught them and they’re going to prosecute them. I’m like, wow, that’s crazy. Here in California. Because you don’t see that here in California. Imagine committing a crime like that. I don’t understand what you do with a stolen iPhone. Like, they couldn’t shut it. And if you’ve ever bought a new cell phone, you know what I’m talking about.

It’s such an ordeal. And let’s get it programmed and let’s do this and let’s do that. Just because you have something in a box, unless they can completely do something on the black market with it, that they can open it up and not have it be through the regular Apple system, I don’t know what the phone’s worth. Unless they do that. But share your thoughts on all this stuff so far.

Do you listen to guys like Hussman? Okay. Okay. We’ll get Bob back on to have Bob explain exactly what. I know what he said and I’m waiting. But John Hussman, this would be right in Bob’s timeline because John Hussman says, do not get used to these numbers. The S p at an all time high, no way. It’s going to be a real problem. But read the article below.

I’m going to finish this video with these last couple stories. Do you guys know what WhatsApp is? WhatsApp is a communication app that is basically untraceable, but it also makes it. You can make. You can talk to people out of the country. You can send text messages, you can make phone calls, basically through the Internet and through their platform. Companies that are public companies are not allowed to use this.

They’re not supposed to, because the communications that you have with a public company are supposed to be transparent. You’re not supposed to make recommendations. And they just got $81 million in fines for these public companies. I’m going to read some of these to you just because there were so many. Northwestern mutual 16 and a half million. Guggenheim 15 million, Oppenheimer 12 million, Cambridge Investment Research and key bank each have to pay 10 million and Lincoln financial advisors, eight and a half million.

Us bank Corp $8 million. According to the SEC, this is just on Friday afternoon. Now again, they do things like this on Friday afternoons so it’s not real news and you don’t think about it. So that’s crazy. Now final, final thing and that this is more of a health thing for people that my late girlfriend because of her cancer, lived a very detailed life as far as what went in her body, what she drank, what she ate, all the organic stuff.

And it makes a lot of sense because you have no idea what the toxins are. There’s a great article below about how 70 million Americans are drinking tainted water that have what they call forever chemicals and particles and things like that. If you guys can’t get access to bottled water, get one of the filters that will filter your water so you’re not drinking this stuff because it will get you sick.

It will cause, will shorten your life and you need to drink healthy water. So please don’t forget to hit the like button. Please don’t forget to subscribe to the channel. And you’re welcome Jeremy. Thank you. Okay, so it’s a pleasure. Okay, let me know what you guys want to see next. Okay. Onward and upward. You want to email me? Hello@iallegedly. com. And I will work on getting Bob and Jack both as soon as possible.

Okay guys, be well. I’ll see you soon. .

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