Hey, it’s Dan. Welcome back. You’re watching, I allegedly. And, uh, we’re in the world as Dan. I’ll answer that in a minute. And, uh, retail is dead, guys. Completely finished. Black Friday. Absolutely proved that. So, please, hit the like button, subscribe to the channel. Today we have a sponsor, Patriot Gold. And, uh, I am in Grand Turks. Hello. Beautiful. Caribbean weather in winter. This is nice. Um, but the Black Friday results are in, and you had a few things. First of all, you had retail shopping down almost 10%. That is unbelievable. Staggering figures as far as the people physically walk into stores.

Now, they’re gonna pin it on something. They’re gonna blame a hurricane that happened two months ago. They’re gonna blame it on bad weather. Anything. But what the truth is, is that everybody shopped online. Think about this. Almost 13 billion dollars, 12.8 billion dollars, was spent in one day online. This is unbelievable when you think about this. Now, think about this figure. Between 10 a.m. Eastern and 2 p.m. Eastern, those four hours, there was 11.8 million dollars a second, a minute, 11.8 million dollars a minute spent in online shopping. So, you don’t need to own a store anymore, guys.

It’s done. It’s absolutely finished. And it’s being proven over and over and over again by these numbers. The malls are dead. People are out. People are about. They’re moving around, but they’re not spending money on retail like they are at home. Now, everybody I know that shops online said, yeah, this is really shocking. I start telling them the numbers. It’s really shocking because there weren’t that many good deals this year. So, you didn’t have something that people had to get. People were fighting for craziness. So, you know, a lot of women I talked to that were like waiting for Black Friday deals, whether it be different, Sephora shopping, different places, handbags, gifts, presents, things like that.

Nobody had anything that said, I have to get this now. And like I always tell them, Dan, you know, they asked me, do you think we’re going to get better deals? I said, well, if you’re not getting a good deal now, there’s weight. The other thing that was staggering was a lot of people sent me prices of things that were raised. In other words, let’s say something was $40, then they raised it to $50, then they dropped it to $40 for Black Friday. So you’re paying retail. Isn’t that terrible to think about them doing that? I was blown away by that.

So, Grand Turd Beach, crazy. Okay, absolutely beautiful, stunning. So, the deals just are not there. Now, the other thing is the CEO of Subway, he’s stepping down at the end of the year. He facilitated a buyout last year or within the last year for $9 billion for the company. And the problem with that is that it’s not a good deal for the franchisees. Think about this. They had a deal for $6.99 foot long. None of you. There’s not one person out there that says, oh my God, that just made me go to Subway. No, Subway sucks, guys.

No one likes Subway. No one wants to shop at Subway. So, here’s what’s wild. So, think about this. Jersey Mike’s just sold to Blackstone for $9 billion, and they have a third of the stores that Subway does. The perfect example of the fact that Subway doesn’t sell as much, but here’s what’s staggering about Subway. Think about this, guys. Every purchase, regardless of profitability, you have to pay Subway 8% of your sales. It’s a lot of money. So, every time you guys buy a $10 sandwich at that place, you’ve got to give the corporate office of Subway 8% of that.

So, I thought you guys would find that. It’s the duty-free shopping district with a bunch of music blasting. So, I’m going to stop it here, right there. But, let me know what you think so far, okay? But just a brilliant, brilliant day. Let’s talk about our sponsor, Patriot Gold Group. Think about this. The election is over with. But the financial instability in the world is here, right now. We need to deal with this. You need to protect yourself, and your family, and your retirement moving forward. The best thing to do is get precious metals into your retirement.

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You need to protect yourself. You need to get yourself into precious metals. And the best place to do that is Patriot Gold Group because they sell everything. Silver, gold, and everything else. Contact them today, 888-330-1431. Do it now before it’s too late. Now, the island’s got a shopping district, like everywhere else, and it’s kind of slow. You know, lots of deals, lots of discounts. They’ve got all the duty-free stuff. Everybody’s very nice here. Very, very nice. Shopping’s good. But, I don’t know, people are just not buying stuff. Now, that’s the one thing that we saw. Most people bought everything online, and retail was down.

A few things that are interesting in the economy right now. There was a program that was set up during 2020 called Main Street Lending. And Main Street Lending basically is going to shut down now because not that many people are using it. But the people that used it, they did $17 billion worth of loans to small businesses. You have a staggering amount of over 10% of the loans people have defaulted on now. So, people took money as a lifeline to solve the problem of COVID. And it didn’t solve the problem of COVID, and the feds are expecting their money back.

So, the problem with this is people that went out of business during this time think that, oh, I don’t know, I just want to bankrupt. Sorry. It’s not like a regular loan. The feds are going to get their money. And the feds, if you’ve got an EIDL loan, Economic Injury Disaster Loan, or the PPP loans, somebody is scrutinizing each and every one of those loans now. So, if you pull any shenanigans and you think, oh, I hope I’m the one they don’t catch, they’re going to catch you. But the Main Street Lending Program, that’s wild because this was designed to give people a leg up and help them.

I’m going to finish this video with these last few stories. Kinley Manor is a 10-year-old girl, and she raised 10 chickens all on her own and then took them to the Livestock Association and auctioned them off. Very entrepreneurial. She sold six chickens for $2,100. And the Small Stock Association gave her a check, and the big mistake her parents made was they used that take a picture on your phone with Chase, and they immediately froze her account. So, what’s a 10-year-old girl doing with $2,100? Why does she have a check? Well, they should have walked it in the bank.

It’s been a year, and she still does not have the money. That is absolutely criminal, and Chase should be ashamed of themselves, because what you want to do is spur entrepreneurship, and this little girl is absolutely fleeched out of her $2,100. Awful, awful, awful, awful. My son was kind of Instagram famous in high school 10 years ago and had about 35,000 followers on Instagram, and he had people make shirts for him, and they sold the shirts, and he would go on something called YouNow, and he would go live, and they would pay him to go live.

And he reached out one day and says, I have all this money and they want to pay me, but I need a PayPal account. What do you need a PayPal account for? So I just have them, you know, and he explained it to me that they were going to pay him, and it got to $1,800 that the kid had. So, the funny thing about this was he had the PayPal account and was using it for months and lived like a rock star in high school and just pissed the money away, which was a good lesson, because you don’t go to Starbucks every day, you don’t have eggs benedict when you’re a junior in high school every morning before school, and he just squandered the money.

Finally, there was a problem in the account one day when he was supposed to get a payment, and he was calling to verify it, and they wanted to verify his age and said, you know, we don’t have your driver’s license here, I don’t have a driver’s license. The kid was 17 years old, so they immediately shut the account down. And I’m like, bonehead, what did you do? By saying anything to them instead of waiting. So, needless to say, it took about five months to get his money back, and it wasn’t that much, it was a couple hundred bucks, but he finally got it back and lesson learned.

There is a company for Kraft, Heinz, and Pepsi that has gone bankrupt. They make food and food supplies and things like that. Kraft’s side, $300 million in debt. They have billions of dollars in bills, and they’re going to go into bankruptcy, and they just got a $300 million loan to help them with that. We’ll see if that helps. But final, final thing, I love whenever these numbers come out, and that is the commercial real estate loans for October are now delinquent, almost 11%. Guys, that is, it’s end of days when you have that.

Think about this. With this video, retail is dead. You’re going to see the commercial space go down. You have commercial areas like that that we just walked through that are doing good, but they’re doing okay. They’re not doing great. You have a lot of people getting on the boat without anything in their hands. So, with that being said, not everybody’s shopping. Not everybody goes to these ports, and some things are deals, and some things are outrageous, and my favorite thing over there on the island was, yeah, we don’t give up. You can’t rent towels anymore.

You have to buy the towels. So, you get a towel, and you buy it, and they’re like, on a boat. Okay, I don’t need to get a towel for an hour to go out back in the boat. So, needless to say, lesson learned. But with the 11% number, this is end of days when it comes to commercial real estate. You’re going to see things happen between now and the beginning of 2025 that are going to be absolutely unbelievable when it comes to the failure of real estate, commercial and residential. The big thing right now, the big, big thing in foreclosures, is second mortgages that are going south.

People go out and buy large homes. I’m talking two and two million dollars, and then they borrow a half a million dollar mortgage, and a much higher interest rate can’t make the payment. So, let me know what you think. Hello at Ialedgely.com is the email address. Onward and upward, guys. Always take a look at our sponsor, and I will see you soon. [tr:trw].

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