Rubios Closes 48 Restaurants In California Declares Bankruptcy | The Economic Ninja

We speak. Rubio’s, a Mexican restaurant chain in California, just closed 48 locations and declares bankruptcy. Gavin Newsom’s plan is working amazingly. Now, how can I say that with confidence? Well, this is how. It doesn’t take a rocket scientist to understand that when you force businesses to raise their prices, or I’m sorry, raise their prices because you have forced them to raise the cost at which they pay their employees. This is going to spell disaster. Again, doesn’t take a rocket scientist to understand how this works. Rather than the California government under the non-leadership of Gavin Newsom, and I say non-leadership in type 1 if you agree, a leader does not tell the state he runs that you all need to go home, mask up, close your businesses while I allow my businesses to thrive and I throw parties for my friends and we’re not wearing masks.

But you saw the exact same kind of leadership in our federal government as well from government leaders that were telling you to shut down while we still go make tons and tons of money. So you have this restaurant chain, Rubio’s. I’ve been there before. It’s a great chain. They have really good food actually for sort of fast food, Mexican food. Having to shutter 48 stores, declare bankruptcy, because they are forced to pay people more. Now, I am all about the free market. Free market capitalism. That’s it. I’m a capitalist, which means I have my own choices in life.

Being a career firefighter for 23 years plus three more in reserve time. So 26 years total, I came across a lot of people that were very angry with how much money I made for what they would say the little work that I do. Quite frankly, I have been awake for 60 hours straight once, fighting a fire for 60 hours, but set that aside. Most people don’t understand that you actually have the choice to go work wherever you want. You can become whatever you want. The only thing limiting you is you, right? So when I see people that can’t make enough money to survive based on the current economic times when we talk about inflation, we all have the choice of where we work.

We could simply go find a new job. But the sad thing is a lot of the population doesn’t understand that the reason we have inflation right here right now is because of governmental policies and them allowing the overtaxation of the people of our nation and them allowing banks to run our monetary system. This is no longer a government for the people by the people. This is a government of control freaks that are ruining our nation. Now I can tell recently, based off of a couple titles that I did, that the old algo is back to his own tricks.

So I’m about to flip this because I’m not going to be intimidated by what I’m sharing. But I do want to share with you this story and then we’re going to talk a little bit more about it. Now, if you haven’t heard of Rubio’s, let me know down below. But if you have also, let me know. Again, Rubio’s filing bankruptcy. It says, Rubio’s Coastal Grill, which began in San Diego more than 40 years ago, talk about an established company and once boasted close to 200 restaurants announced Wednesday, it is filing for bankruptcy protection with the goal of selling its business.

In a news release issued by the company’s public relations firm, Rubio’s said its existing 86 restaurants will remain open while the Chapter 11 bankruptcy proceeds. The latest filing marks the second one in a span of less than four years and comes just days after Rubio’s abruptly closed 48 of its restaurants in Southern California. The company, which hired the Los Angeles based crisis management and public relations firm Strict or Styric and company declined to provide specifics on which restaurants closed. But former employees provided a list of the most recent Southern California closures on Reddit and it means just a ton of restaurants, a ton of locations.

All right. So going back to what I was saying about Newsom, doesn’t take a rocket scientist to figure this out. But the sad thing is I don’t think people really understand or realize how serious this has become. Matter of fact, Carlos, the one of the moderators here, everyone say hi to Carlos. Carlos is a successful entrepreneur in his own right. He’s invested a lot of things, but he owned where I grew up, one of the longest opened restaurants in our area. He recently sold that. Matter of fact, he sold it when he met the ninja in a grocery store once because times are going to get tough.

Carlos was about to find the exact same fate as Rubio’s. As a matter of fact, his restaurant was a Mexican chain. He would have been forced to pay people $20 an hour in some instances because right now, that $20 an hour is for specific types of restaurants, right? But it’s just a mere matter of time before it was going to affect him because it would affect all minimum wage. And that is actually coming. You’re going to see this happen. He got out by the skin of his teeth, right, Carlos? Yeah, he says right here, over what, 32 years in the business of restaurants.

I don’t think people understand that someone like Gavin Newsom is actually quite intelligent, and he knows exactly what he’s doing. He wants to force certain businesses out of business, all while he appears to be helping the little guy. But we saw pretty rapidly after that decision was made to, you know, walk away from, or sorry, to pay fast food employees $20 an hour. The age of what robotics at McDonald’s, Carl’s Jr., places like that, self-paying kiosks exploded. Restaurants got way ahead of the curve, and they turned around and said, hey, we’re going to try and lower the amount of employees working for us as much as possible.

And so it’s not helping the little guy. It’s hurting the little guy. And rather than admit that the government, the California government, or the federal government actually come out and admit and say, the reason why costs are so high is because we abandon the gold, the gold exchange, the gold backing of our currency so long ago. And so it’s been getting progressively worse and worse. And quite frankly, most people don’t even understand the Federal Reserve when they say, hey, we want to keep inflation at 2%, because what that does is it makes you feel a little rich.

It causes the S&P over time to rise, the Dow Jones rise, and housing to rise. But what you don’t realize is those rises in the stock market, in the cost of stocks, the cost of your home, never keeps up, or your job, your wage, even though you get cost of living raises or colas. Let me give you an example, because it never stays up. Does anyone work for the federal government? What was the cola this year in January? What was it? 1.6% or something like that? Put it down below so I can see it and I can read it, because I don’t remember it off top of my head.

But my point being is, the cola has never, ever stayed up with inflation. As a matter of fact, let’s use the DoD. The Department of Defense is the largest employer on earth. And after the 2008 crisis, thank you so much, Lisa, for the super chat. After the 2008 crisis, it was actually completely suspended. Nobody got a raise in the largest employer in the world for close to 10 years. But all that time, the Federal Reserve was saying, our mandate is to destroy the purchasing power of your currency by 2% a year. And most people do not know that this is a plan to make you poor.

So how do you beat that on the cusp of you losing your job if you worked at Rubio’s? Or you lost your job with a tech company because the tech bubble is imploding right now? Or maybe FinTech? You’re working for FinTech startups. You were super pumped. And you’re ready to go. And then, boom, your job’s gone. Because funding is being taken away. Because venture capital money has completely been taken away as of this last year, just an implosion. It’s so hard to raise money in FinTech right now. It’s crazy. So how do you get ahead of this? Well, normally, you would invest in assets that go up because of things like cash flow, real estate.

Well, that bubble’s popped. So what do you do? Well, you have to actually wait for that bubble to not only pop like it already has, but for the general public to figure it out. I was a complete crazy man in 2007 when I said the real estate bubble had popped in mid-05. And it’s going to crash. And most people are sitting there thinking on nutball. But it’s because they weren’t told that it had crashed until the mainstream media told them. Right now, real estate is down nationwide. Why? If you go to the St.

Louis Fred, or Google Fred, F-R-E-D, average selling price of homes, and go look at that chart. But because the mainstream media won’t tell you that truth, and everyone’s running to Zillow and checking their zestiments, and you don’t know, that info is not regulated. That info is not audited. And we’ve even seen Zillow go through times where their zestimate got so screwed up that the company was losing billions of dollars, flipping homes. This whole thing’s a house of cards that’s already fallen, but you haven’t been told yet by the mainstream media.

That’s what’s amazing to me. That’s not sad. That’s not scary. It’s the greatest opportunity of your life. Type 10, if you agree with that. We are experiencing, you are having the most amazing opportunity of your life simply because, let’s give you a little nice view of this, simply because you know something and understand something before anybody else does. And you’re going to go take advantage of it. This kind of stuff gets me so pumped, it’s crazy. And yeah, it takes a long time. I was selling my homes in mid-05. My friends didn’t believe me and then really decided not to talk to me until around 2000, mid-2008, 2009.

I had three years to sell my stuff and prepare for that. And I crushed it. Well, I made a promise after the nation got shut down was to make sure that a million of you get ready for this next one. And I take this extremely, extremely serious. People like Gavin Newsom know exactly what they’ve done to the American, the California economy. And at the same time, you have to understand this, being that California is like top eight in the nation as far as GDP, they’ve also done this to the nation. All right. As California’s GDP falls, please understand that our nation’s GDP falls.

And California is right now the pride before the fall. And they are doing some pretty wacky things on purpose. And at the same time, you’re going to find out in a couple of years, what companies Newsom sold or other politicians sold, what stocks they liquidated prior, and they just paid a fine so you couldn’t find out right away. And then it’s like, you guys didn’t see it coming. That’s what’s crazy. Still running the pre-filling discount of the mortgage master course. For the cost of that mortgage master course, you’re going to walk away and within a year, year and a half, you’re going to be walking into banks when no one can get a loan.

And they’re going to be handing you money hand over fist at great rates. And you’ll be saving thousands on fees because you set up your personal financial self, your financial life, right. Then you’re going to absolutely crush it during this real estate crash. Nobody sees it. Rubio’s closing what, 48 stores declaring bankruptcy. And they’re going to only be, they’re the tip of the iceberg in not only California, but also in other States because as food keeps getting expensive and this big Mac indicator keeps rising, fewer and fewer people are going to go eat there.

They’re going to choose to eat at home because they simply can’t afford it. And you’re going to see more layoffs, more restaurant closures. It absolutely, unbelievably blows my mind that most people can’t see this, but you do. Type 11, if you not only see it, but you’re getting ready and you’re licking your chops just gone, man, I’m like a racehorse ready to get out of the stall. Hope you got something out of this. Thank you so much for watching. Oh, and just so you guys know, I’m about to release a video that the algo is going to get really pissed off on, but I can’t stay away from the truth and where our nation is.

And it’ll be coming out a little bit later today. And it’s about the big man that’s going to get elected next. And so I really do need your help to share it, to hit the thumbs up and to comment like crazy on it. It’s going to come out a little bit later and I’m going to do this because I’m not going to shy away. The truth is out there. Please keep your eye out for that video. It’s going to be a lot of flames on the thumbnail, if you know what I mean.

Hope you have a great day. The economic ninja is out. [tr:trw].

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