The Death of the Dollar Store | I Allegedly
Summary
Transcript
Hey, it’s Dan. Welcome back. You’re watching Iallegedly. And I’ve got a good one for you today because the dollar store is dead. Death at the dollar store. And got a lot to cover today. So please hit the like button, subscribe to the channel, and today we have a sponsor, Patriot Goldman. We’ll talk about them later. But first things first, 99 cent store went out of business and liquidated within 30 days. Less than 30 days and they were completely liquidated. A lot of the merchandise was sent to other stores and a lot of the merchandise was sold and just gotten rid of.
And I’ll show you that in a little bit. But one thing you’re seeing here at Dollar Tree is Dollar Tree has a tremendous amount of items now that are $3, $5. There is no more dollar store. It is done. The death of this. So you can sit there and say, oh, it’s better merchandise. It’s $3, it’s $5. No, it’s not. I mean, this is the advantage to going to a store like this was that the Dollar Tree, as I used to call it, not Dollar Tree, is that everything went to $1.25. So, crazy. Okay. But you have a tremendous amount of merchandise here.
$3, $5. But one thing that a lot of people told me about, and I’m here in Pasadena, California, was that they installed inside the stores. They installed scanners inside the stores so that you could price check merchandise because they’re sick of answering the question as to, how much is this? How much is that? Because it used to be everything was the same price in the store, but not anymore. So what they did was they installed these inside the store so that you could check prices. Now, you can think that this is no big deal. Isn’t this great? No.
This is not a deal anymore, guys. It’s not discounted. You have things that are $5. That shouldn’t be $5. And everything has gone up and gone through the roof. And this is too much. But again, no one’s going to go to Walmart. No one surely is going to go to Target. But we’ve seen this towards just getting worse and worse and worse with these stores. And Dollar Tree is no exception. Now, I finally found the stores that have the $3 items, the $5 items, and they’re adding more, sir, is what they told me. You got a lot of things that are $5.
Whether people want to come out, it’s going to be interesting. Or $5 items. Then you got the $1.25 items. It’s a real big dollar tree. It really is. Once again, I’m in Pasadena, California. You know, this is very sad. It really is. I never thought I would see this. But here’s a $0.99 store. And this is in Huntington Beach, California. And it was truly one of the busier stores in the entire chain. But it is closed now. Liquidated. Everything done. Everything gone. Very sad, guys. Just absolutely shocking. To see this. Now, where do you get value? Walmart? No, we know that that’s not true.
You know, I mentioned the word target. You should see it. Everybody, you know, reacts. How everybody reacts to that. But this is just sad, guys. Absolutely tragic. To see this place like this. Just a shell of what it once was. Vacant. And again, another big box store gone that will never be the same. Okay, correct me if I’m wrong, guys. But this is just tragic. It really is. Just absolutely finished. It’s sad. It really is sad to see this go down the way it did. I’m still in Pasadena. And as I was leaving the dollar store was on the phone with a buddy.
And I said, Oh, hey, there’s a Popeye’s chicken. I haven’t seen one of those in a while. He says, Oh, will you do me a favor? Could swing by and get me some of that Cajun rice. I’d really like that. Look at that. Isn’t that great, guys? I don’t think it’s what he thinks it used to be. It used to be like a like a rice with like meat in it and spicy seasoning. Now it’s a rice with beans. How much is that, guys? How much is that? Seven dollars and eleven cents now. Is that insane? Is that nuts, guys? Nuts.
How do you afford that? Seven dollars and eleven cents of Popeye’s. Welcome to Popeye’s. Insanity. Looneyville, guys. Absolutely looneyville. Let me know. Share your thoughts on that one. Let’s talk about our sponsor, Patriot Gold Group. Remember, sell in May and go away. Nothing to worry about. Nothing to see here. Everything’s going to be great in the economy. Well, it’s not. David Brady said that we could see the S&P 500 drop to a thousand. You need to protect yourself and you need to look at what central banks and countries and the BRICS nations. They’re all buying gold right now.
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Use the link below and contact them today. Number one rated. Contact Patriot Gold today. There’s a lot more to cover. Now Memorial Day has been called the unofficial start of summer forever, but things are changing right now. Things are not the same as they were in previous years. Start with the entertainment industry. The entertainment industry is broken, completely broken right now. I want you to think about this. They had, you know, COVID shut everything down. Then they had the strikes that came out and they thought this was going to be the thing that was going to fix everything, but it didn’t.
It destroyed everything. It made it so that there are more people that are inside the entertainment industry unemployed right now than ever before. And you can sit there and say, Oh, Netflix changed that Dan. People don’t want to go to the movies anymore. There are no movies anymore. This weekend saw the lowest take for a Memorial Day since 1995, guys, 1995. Good old Casper Casper, the friendly ghost, Christina Richie. She was a kid back then. Okay. Anyways, that that movie made $22 million. We had a, we just had a movie. The Mad Max made just over $30 million, which is nothing.
Okay. Now you can sit there and say, Oh, entertainment’s dead. I don’t go to the movies anymore. Whatever. That’s not the point. The point is that industry is changing. Industry is dead. We never thought that we would see fast food places go out of business right now because people can’t afford it. We’re living through an economic depression that you haven’t seen ever in our lifetimes. None of us have seen this. Okay. Unless you lived a hundred years ago, but this is only going to get worse right now. We used to have weekends, holiday weekends where you’d have stacked back to back movies.
You’d have all the advertising for movies week after week after week. This is coming out. This is coming out and we have none of that now, but we would have weekends when you would have $350, $400 million in movies sales happen in a weekend and that’s not the case anymore. It’s done guys. It’s completely finished. The movie, the fall guy, I saw it in a theater three weeks ago and now it’s on TV already, huh? Okay. Well, I went and saw it at a cool movie theater that served food and drinks and things like that. It’s a great experience, but that’s the future guys is that.
So you’re going to see more and more of these places go out of business. When you have, you know, beans and rice for $7, what’s happens next guys? People cannot afford this. Right now they cannot afford this. So let me know what you think about that. The next thing is we’ve talked a lot about the scammers and all the problems with people impersonating businesses and things like that. Do you know what the number one business that’s impersonated per the federal trade commission? Okay. And I was shocked. I was like, okay, I started guessing. Just got to be a bank.
It’s gotta be this. No, no. Best Buy Geek Squad. Hey, your computer’s slow. Contact us. Best Buy, Amazon, PayPal, Xfinity, your cable company. Then it goes to Wells Fargo and then B of A. But check out the story below because so many people fall for this and it’s terrible. It’s sad. It’s absolutely sad because people lose their identity. They lose money out of their bank accounts. They get scammed by these people and there’s nothing that they can do about it. But I got the great story below about Best Buy with this and the Federal Trade Commission report.
And again, this gets issued on a holiday weekend that unless you’re watching this, no one’s reading that. No one’s get, hey, what did they have to say? No, no, no, no, no, no. So pay attention, guys, because this is being done to us right now. Okay, it’s being done to us. The inflationary spike that we’re living through is not temporary. It’s going to go up. Do you think that that bucket of beans is going to go to $3 like it should be or $1.99 like it should? No way. No way. We’re going to see higher prices for longer.
But you’re going to see more and more places go out of business during this time. And this is just the beginning of it. But the movie industry is done. It’s completely finished. Entertainment as a whole. And you can sit there and go, haha, they deserve it. And I know there’s going to be so many people doing that. But I’m talking about the other people that make movies that are producers, associate producers, work on the line. I mean, I wrote a movie, guys, at one point, I wrote a Jeff Bridges movie, and I got paid a decent chunk of change to do this 20 years ago.
Those days are done, guys, don’t pay guys like that, you know, that do things like that money anymore. They pay you with lunch, you know, it’s ridiculous. So that’s what you’re seeing. And it’s destroying this. My daughter, who’s in her mid 20s, has a lot of talented friends that are in everything from animation to they create small movies, they do this, they do that can’t find jobs, people have degrees from huge colleges and cannot find work. And, you know, dad, what would you do? You know, if this was your daughter, what advice would you give her? And again, create your own, your own story, create your own success, write your own books, make your own movies, make your own videos, do everything on your own, guys, because this is changing.
When you see things like the dollar stores go out of business and get done, this is something that is not just a kind of a fad that’s going on. And, you know, we’re just running into a rough patch. No way. You’re going to see a shift economic shift right now that we’ve never seen in our lifetimes. Okay, that crazy? You haven’t seen anything yet, guys. So let me know what you think so far. Now there’s more. First thing, Volkswagen has been selling EVs for a few years. They just announced a recall of 80,000 EV cars. Yeah, the screens don’t pop on.
Can’t program the cars. It’s kind of a problem, don’t you think? Now, that could technically happen with a gasoline powered car, I guess. But I’m telling you, you have a lot of problems with EV cars that you don’t have with gasoline powered cars. And it will be interesting to see how Volkswagen fixes this. Volkswagen has such a stellar reputation since they finagled and fudged and, you know, made up different, you know, gas mileage numbers and things like that. But you have EV cars sitting, okay, that no one will buy right now. And the inventory is only growing right now.
So there’s that. Next thing is, this was announced on Friday night, and none of us saw this until the weekend. And as I was researching and doing my boring stuff. But Walmart just ended its relationship that it had since 2019 with Capital One. No more exclusivity on their credit card deal. So Capital One took care of the debt and handled the credit card bills for Walmart. Wow, that sounds huge, Dan. Is that a lot of money? Yeah. Right now, they’re currently holding eight and a half billion dollars of your Walmart debt right now. Eight and a half billion dollars.
And by the way, this is over with. Okay, it’s done. So good luck collecting. You know, we’re going to have another agreement with somebody else. So is Capital One in trouble? Does Walmart know something we don’t know? Are they unhappy about the merger with Discover? We just don’t know yet. You know, just don’t know what the what the answer to that is right now. So that’s the beginning. Just the beginning. But they’re done. So Capital One is finished when it comes to that. And you’re going to see a little bit more. You know, we were talking earlier about people couldn’t afford things.
McDonald’s is actually contemplating leaving the state of California right now, because after they interviewed all of their customers, they had thousands of people respond to this, that they say that fast food is now a luxury. People cannot afford to go eat out. So McDonald’s is not on the table as something to go get in a pinch. People can’t afford the fast food. But, you know, that’s huge. A lot of people may leave California. Now, here’s the other thing is that 40% of all Americans asked, could you afford the home that you live in right now? 40% right now said they could not afford the house that they live in right now.
Couldn’t afford the house payment. Couldn’t afford to buy it. Couldn’t afford to get it replaced right now. That’s huge. That’s that’s the largest the numbers been since they start keeping records of this. 40% of the people said they can’t afford the house that they live in. That is wild, guys, when you think about that. So let me know what you think about this stuff so far. We’re seeing all this stuff, you know, big changes. Amazon Fresh right now, Amazon Fresh just announced that they’re going to lower, you know, food prices by as much as 30% to lure people back.
That’s the mini stores. That’s like the small whole foods is Amazon Fresh. And they want to lower food prices by 30% because people are cash struck. People cannot afford to go out and buy things right now and buy food. People weigh what they’re going to purchase. Now, I want you to think about this one because this is the final story. One in four people right now, and I’m not laughing because it’s funny, I’m laughing because this is tragic right now. One in four people when they surveyed over 2000 families said that they worry about homelessness as their big problem and that they don’t know if they could make it financially right now.
Is that terrible or what? One in four, one in four guys. So just overcast right now for you guys. But think about that. So if you are struggling, you’re not alone right now. So please, you know, things are changing right now. You have to accept the fact that they are when you see dollar stores go down, when you see the entertainment industry go down, when you see McDonald’s cutting back, everything is changing right now. And we’re headed towards a depression. That’s just me. Please do not forget to hit the like button. Please don’t forget to subscribe to the channel.
And you want to get a hold of me? Hello at I allegedly calm. And also if you guys want to join the email list and email goes out in the middle of the week. You don’t want to miss that get a little exclusive video from Dan, but use the link below and sign up for that. Okay. So onward and upward, guys, I will see you guys very soon. You’re not crazy. Just remember that you’re not crazy. This is happening to us right now. The death of the dollar store is a big deal. It really is. And you get news that gets kind of shuffled away, you know, Capital One Capital One largest amount of people delinquent right now.
And Walmart is canceling that deal. What do they know? What’s happening? Okay, let me know guys share your thoughts and all this stuff. I’ll see you guys real soon. Thank you. [tr:trw].
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