➡ This text talks about various financial issues people face, like high taxes, bank stability, and unexpected bills. It also discusses the importance of being proactive in managing your finances, like checking your bank’s financial health, ensuring you receive your property deed after paying off your house, and keeping track of your insurance policies. The text also mentions rising crime rates in some cities and the importance of feeling safe in your community.

➡ The text talks about the financial risks people face if they don’t prepare for unexpected events like fires or floods. It also discusses a worrying trend where fewer young men are working compared to the past, with many choosing to stay at home and play video games instead. The author encourages learning from failures and taking care of one’s health. He also mentions enjoying a peaceful spot near a library and a flower sanctuary.

Hi, I’m Dan. Welcome back. You’re watching. I allegedly, and I’ve got a good one for you today because we have proof now that people are having a real difficult time with this economy and they’re just struggling all the way around. So please take a second. Please hit the like button. Please subscribe to the channel today. We have a new sponsor. Aura and I will talk about them in a little bit.

But first things first, JP Morgan and Bank of America in the last month just wrote off four and a half billion dollars worth of bad debt. And what that is is that’s consumer debt, credit card debt, personal loans, things like that. People are just not paying. They cannot swing these payments. It’s a great story out of Reuters talking about this, about how people just don’t have the money.

And what they do is they go hit the credit cards just to survive and just to pay their bills, which is, you know, a death loop, okay? Because people go out and don’t realize that, you know, things aren’t going to turn around right now. And people need to accept where this is at. I’m telling you guys, you’re going to look back at April 2024, as bleak as this is, as the good old days.

Wow. Remember in 2024 when I had a few hours extra work and I had some money? Okay, remember this, guys, because this is going to be a point in time that’s going to change dramatically moving forward. And what we’re seeing is that the lower level of income, people are extending themselves too much and they’re not being able to catch up. They’re overextended, they have too much credit card debt, too much personal debt, and are not making it right now.

Okay? So it’s happening to more and more people and it’s happening across the country and around the world. Okay? Now, one thing that people have asked me is, hey, Dan, what happens if I just don’t make the payment? Well, I found a great article below about what happens when you don’t make your, your credit card payment. What happens if you just stop paying and you let it go? Collection letters come out and then eventually you let it go to a charge off.

And what happens and how they’re going to take legal action against you, send you to a collection agents and the collection agents based on what they do. You know, a lot of collection agencies get a tremendous amount of files and then with those files, they go out and they will file lawsuits against people to collect this matter and do mass lawsuits where they may file 50 lawsuits at one time.

And try these cases over the course of a few days just to collect their money. And they get paid a percentage to collect this money. So that’s what you’re going to see more and more of. But you have to get control of your finances right now. My son, who is a college student who is about to graduate college, you know, called me this morning, said, I need to talk to you about something because I’m going to change jobs.

So. Okay. Did you get fired? What happened? No, no, no. I want to run something by you. And that the company is hurting financially at one of the restaurants he’s working at, and he spoke to somebody that does the books and does financing for the restaurant, and they’re having trouble paying the bills. And the rumor is with the other servers that they may not make it through summer.

And I’m like, wow. So I’m gonna go out and get another job. But I don’t want you to hear about this after the fact, thinking I got fired because he’s been fired before, guys. He’s a kid and he’s shown up late, but I only did it three times type of thing. So very responsible. But this is the sign of the times right now, guys, that you’re going to have more people work for businesses that are done, that are having trouble.

So get your finances in order. Take a look at stuff like this. Take advice from a 23 year old college student that is out there saying, you know what? I think this company is in trouble. Maybe I should look for another job. So he’s getting ahead of it right now instead of waking up and not getting paid. Or, heaven forbid, they don’t make payroll. Heaven forbid. Now, there hasn’t been anything like that said, but that’s what you want to avoid with these banks.

You want to avoid problems like that. So this is going to happen more and more and more right now. And it is awful because one thing that he said that people do is people walk into their favorite restaurant and go there over and over, and they order the same thing. They may mix it up a little bit, but people know what the check should be down to the penny.

And, dad, people are furious, man. They’re. They get their check and it’s $28 more than it was two months ago. They’re just losing their minds. They can’t handle that. Now, here in California, what’s served on the menu? Great article out of the Wall Street Journal. Here’s what’s served on the menu. Sticker shock. People cannot afford what it costs to go to these fast food restaurants. Now, right now, these places are reporting increases in revenue, and some of the profits are okay, but this is it.

When you have a burrito at Chipotle that costs somebody $22, when do you draw the line with that? When do you sit there and say, pass on that? You know, I just am blown away. I have committed myself to not eating out. I’ve committed myself to making sandwiches. And I’m telling you guys, I have days. I’m very proud of myself that I. Oh, I spent no money today.

How incredible is that? Nothing on the debit cards, nothing on the credit cards. Nothing. Not a dime. You need to try to live this way more often. But the problem with it is that there is not any place right now that is a reasonable deal when it comes to the fast food prices. Right now, you’re seeing the fast food prices go through the roof right now. So, you know, do something about it, guys.

But if you are on the credit death spiral, if you are sitting there borrowing, you know, from here to pay for here or borrowing to eat, it’s over, guys. It’s just. It is a, you know, locomotive that’s slowing down, and you’re about to be left stranded someplace. Remember that, because your credit’s going to get cut off. It’s going to destroy your credit for the future, and it’s going to be a real problem, because what happens if you have to go rent an apartment? What happens if you have to move? And you’re the deadbeat that’s 90 days behind on that? And again, I say that lightly, but people are having a very difficult time right now.

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And first things first, Bridget had a question about the California exit tax. As a man that lives in California and has businesses here, and, you know, if I want to leave California, they’re proposing an exit tax. Okay? Now Bridget says, well, who has to pay this? Dan, right now the proposal is for people that have over $30 million in assets. So I don’t have that. Okay. But what they want to do is they want to charge you 410 of 1% if you want to leave California.

And what they want to try to do is they want to try to continue to tax people that leave California. Now, I’ve done business with people that have were in California and then they moved to different states, but they still have certain interests here, you know, whether it be commission programs, things like that. And they count the number of days that they can come here and work here.

But guys, this state, all they do is tax people. We have the highest taxes next to New York, and you know where New York’s headed? To hell. Okay? So I don’t know how this is going to work. But again, that’s the problem that you have with these states where they just tax people to oblivion. A man wrote me and didn’t say, I didn’t say I could use his name, but has a wife that works at Wood Forest bank.

Now, you start to research banks. When you hear about a bank that goes out of business like Republic first, you know, what do you do? How do you find out? You know, his wife works there and she says, oh, everything’s great, honey. Don’t worry about this place. But he’s the one that’s concerned about it. He wants to know the financial viability of these banks. Well, you can go, there’s an FDIC list that you can go to, and you can check to see if a bank is considered to be in trouble or not.

And this list is viable and it’s valuable because you can always call the FDIC, too, and. And find out, and they will give you information. People are freaked out about calling these agencies, and they do have phone numbers. You can talk to them. But the best thing, you know, the best thing is a credit union, because a credit union will share their financial status with you and let you know if they are financially viable or not.

They’re outstanding loans. Bad loans, things like that. So you know, share your thoughts and all that stuff. But again, I’ve heard nothing about Woodforest bank and cannot find anything negative about it. So my opinion is it’s a lovely institution. Okay. Share your thoughts on that. Let me know what you think about this. But we’ve talked about these banks going out of business. Who is next? Who is going to go down for the count next? Who are you concerned about? Is it somebody you work for? Is it somebody you bank at? You know, I had one man that went to three different credit unions and had nine questions he asked two years ago and he just put these guys through a laundry list of things and he ended up putting his money in one bank where the manager said, you know what, I can’t do this right now, but if you come back, opens up your calendars, you come back Thursday at 01:00 and I can answer all these questions for you.

And the woman sat down and gave him 45 minutes worth of her time to answer every question about the financial stability, the credit union. So rather bank someplace like that where they’re not hiding, where they want to share their, you know, financials and things like that. So let me know what you think about this. I love stuff like this. New York Post shared this story, a man named Barry Tangent.

And check this out. Got sitting areas here. Barry Tangent lives in Lancaster, Pennsylvania and Lancaster County, Pennsylvania. And he got a tax bill from the state authority for 34 and a half billion dollars. And he thought it was 3000. They looked at the number. Yeah, 34 and a half billion dollars. Well, that’s a mistake. This guy’s never made more than $100,000 in entire life. And it’s funny, he said the envelope I opened before that was a $900 tax refund.

And I got a bill for 34 and a half billion dollars, which the tax authority says, yeah, that’s an error on our part. I always get a kick out of things like this, but you have to protect yourself. You have to make sure that you get things like this resolved. Don’t just sit there and say, forget about it. Because there was a man who had a vacant lot of land back east that was finally thinking of, you know what? I think I am going to work on this and I’m going to go out and develop it and goes to start developing it.

And they sent him a water bill. Now there’s no property there, there’s no activity, there’s no construction there for $16,000. And he got stuck with that bill. He went to the at first, blew it off, says, well, there’s no house here. You can’t bill me $16,000. They did. And then sent him to collection. He ended up having to go to the city council meeting, announce it to the water board, and presented to them that they were overcharging him.

And they found in favor of the county and said that they were going to make the bill stand when there was nothing there. So if you get something that’s crazy, contact them. Don’t just let it go, because you’ll be like that guy who ends up having to hire a lawyer and spend more than $15,000 to fight a $15,000 bogus bill. And by way, they won’t let him turn the water on there unless he pays the bill.

Okay, pay up, you deadbeat. Okay, so let me know what you think about that stuff so far. Crime is such a problem around the country. When I went to New York City in February, it was freezing, but it didn’t feel safe, guys. It just didn’t feel safe at all. And walking through Central park, even with a lot of people, it just didn’t feel good. You didn’t have the feeling like you had walking through Huntington Beach, California, so it just did not feel good.

And now there’s such a crime spree in New York City and Central park. They’re robbing the tourists, they’re robbing the locals, they’re robbing everybody. And now the police are going to step up their patrols in Central park again. Guys, it’s insane. We live in backwards land right now. You’re going to turn cities like New York City, cities like San Francisco, cities like Los Angeles, into absolute ghost towns to where the losers take over.

And that’s it. My daughter went to Japan and said, dad, it was completely different than here. Completely. We felt safe. If someone could speak English, they would answer our questions. They were nice and kind. Now it’s not the case in New York. Okay. Taking your life into your own hands, guys. Next thing is one story I did a year ago that was crazy. That got a lot of attention is what happens when you pay your house off.

Did you get a copy of your deed? Was it sent to you? John and Joan, you guys paid your house off. Congratulations, Will. You own your property now? And a lot of people are like, wait a second, we didn’t get our deed. Dan’s right, you know, let’s contact Wells Fargo and find out about that. Well, there’s a man out of Syracuse, New York, who worked for a title company who was stealing people’s money.

They would, you know, the think about this. The house would get paid off and he would pocket the money. He even did it as much as $110,000 on one transaction. And people had no idea that this was going on. So the guy goes out, they steal the money, and one house went even into foreclosure. This is how they found the guy because, wait a second. We paid that off.

What do you mean? It’s in foreclosure and they’re trying to sell it right now. This is what you’re going to see more and more of. I’m telling you guys, follow through. Okay, we paid that off. Sent the final check. Did you guys get it? Because look at your canceled checks. Look at things like that. Take photocopies of checks. Take photocopies and make sure that you have records of the bills that you pay.

I’m telling you guys, have a little file, but take a picture of it to it. Have it on your phone. So you have these records because you’re seeing scoundrels do more and more things like this where the guy worked for the title company and now he’s indicted. Okay, great. But these poor people, he pissed away the money. And these poor people have to deal with the fact that their house now, in fact, is not paid off as far as the bank is concerned.

So let me know what you think about that. I’m going to finish this video with these last couple stories. And the first one is, people are just finding out that they don’t have homeowners insurance here in California. Yeah, we’re not going to honor because of fire damage down the street from you. So they’re canceling insurance policies at a record pace right now. And people don’t know about this.

I’m telling you guys, be proactive in your financial life, in everything, in your health insurance. You know, I have a blue shield right now for my health insurance, and they don’t want to work with my doctor’s group right now. So I have a real issue right now where I’ve had the same doctor for 15 years and he’s my doctor. I’m not going anywhere. Well, we won’t honor there.

They won’t pay us the way that we want to get paid at Blue Shield. Okay. So I have to deal with this and how I’m going to have insurance. Well, you have to be proactive in everything you do financially right now because you don’t want to file a claim. We told you we weren’t covering you for that. For excess fire damage or flood or whatever. I’m telling you guys, people are going to be shocked, and they’re going to be bankrupt as a result of this, because you’re going to have a depreciated asset that they’re going to want their payment on the first, and you won’t be able to make the payment.

So ask the questions of everything. Of your bills, of everything. I’m at the sanctuary, the flower sanctuary that’s over by the lake and the Huntington Beach Library. It’s just a cool spot. It’s peaceful and cool in a morning like this. But final thing, and this is disturbing, men don’t want to work right now. We have a huge percentage of young men in their twenties that are not working.

In the 1950s, our workforce was basically 96% of young men. The other 4%, what are they injured? They didn’t, you know, maybe they were, you know, the imbeciles, whatever, that just couldn’t work. But basically 96% is the entire workforce. It has dropped right now to 84% of men in their twenties are working right now. This is horrific, guys. This is absolutely horrific. And it’s not improving. It’s going in the wrong direction.

These people live with mom and dad. They have zero drive. They play video games all day. They can’t figure out why. They can’t meet women and don’t want to socialize, don’t want to get rejection. Rejection for a job, rejection from a woman, rejection for anything. I’m telling you guys, remember this. I’ve learned more from losing than I ever did from winning. And it’s made me a better winner.

It’s made me appreciate the things in my life that are good. So I’m telling you, be kind to one another. Take care of your health. If you want to reach out helloedgedly. com, check your spam filter because an email just went out. And also, what do you guys think of this crazy shirt? It’s mixed ranks. Somebody sent me this one a year ago. So it’s spring. Spring is sprung, guys.

It’s nice, and the weather’s good. So let me know what you guys think. I will see you guys very soon. .

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