The Debt Wall Crisis Will Hit Us All
The Debt Wall Crisis Will Hit Us All
Summary
➡ The speaker expresses concern about rising blueberry prices due to shortages and increasing crime rates and national debt. They warn of the IRS intensifying their scrutiny of cryptocurrencies, with the government seizing roughly $4 billion in undisclosed bitcoin and other cryptocurrencies since 2018. The speaker also highlights issues with fraudulent PPP loan recipients, suggests an effective car shipping service from personal experience, mentions out-of-control price increases in various sectors, notes shoplifting issues in Walmart and Target due to self-checkouts, and raises concerns on the reliability of electric vehicles, using a recent incident in San Francisco as an example.
➡ There is increasing concern over both financial crises, such as companies like Sphere losing billions and banks facing unrealized losses, along with other issues like rising shark sightings in Southern California due to warmer waters, a recall on Tyson Foods’ nuggets due to potential metal shards, and the discontinuation of the Chevy Cruz self-driving car after an accident. Social networking sites are also experiencing financial detrains, with Nextdoor set to cut 25% of their staff.
Transcript
Hey, it’s Dan. Welcome back. You’re watching. I allegedly, and I’ve got a good one for you today. I’m in Laguna, up in the cliff and just having a nice walk this morning, you guys. We are about to hit a debt wall and this is going to have major consequences to each and every one of us and can’t wait to cover this and a bunch of other stuff for you guys today.
Busy day. First things first, guys like this video, please subscribe to my channel. And if you guys want to get a hold of me. Hello@iallegedly. com. Is the email address. And today we have a sponsor, Patriot Gold, and I will talk about them in a little bit. First things first, real estate investor John Goff. John Goff is a billionaire. John Goff has made the rounds lately on a lot of the news programs, business news, getting interviewed, talking about how people are at Wits end.
People are tapped out. Business is tapped out. You’re seeing more and more people that have stretched themselves to the bitter end, especially when it comes to commercial real estate. And what this is going to do is it’s going to make people fold. It’s going to make them collapse. And this debt wall that they’re coming up against is something that they cannot just let slide. The problem with this is that the average commercial building, think about this figure, has gone down 21% in the last year, again, October to October, 21%.
This is going to have huge ramifications when it comes to refinancing these properties and trying to get better loans and things like that. The problem right now is interest rates have doubled for everybody. Well, Dan, for the fat cats, they get better deals. Okay, let’s play that game. Let’s play that game. I have two people that sent me that email yesterday about how rich people get better interest rates than us common peasants.
And I’m going to play with that game. Well, Mr. Goff is talking about six 7% higher interest rates for some of these people. The problem with it is you think everybody’s a billionaire that owns commercial real estate. We all think that they’re rich and fat cats, but they’re not. And the problem with it is that these people are having such a huge problem refinancing these places like they’ve never had before.
And the problem that you have is you have values that have gone down. You have tenancy gone down dramatically, and you have buildings. Think about this, that have 80% occupancy vacancy right now, 80% vacant right now. And with things like the, WeWork bankruptcy and everything that’s happening right now in business, how people just don’t want to go back to the office. This is becoming a bigger problem all the way around.
Now thing about this, you can say, well, Dan, I don’t own any commercial real estate. It’s not going to affect me. It is going to affect us. It’s going to affect each and every one of us because these banks are going to go down for the count and you’re going to see that people can lie and people can tell us how great everything is and that they’re going to get through this, but they’re not.
And this is going to be something that they can kick the can down the road, but you have immediately in the next eight months, $1. 4 trillion in commercial debt that has to be refinanced route, let me say that again, $1. 4 trillion. Okay. Now, Barry Sternlich from Starwood Capital, he says, listen, we’re going to buy a lot of these properties. We’re poised. We just keep putting cash to the side to buy these properties for pennies on the dollar.
Now, what we’re going to do is we’ll deal with tenancy. We’ll deal with occupancy later because it’s going to be an issue that’s going to have to be eventually dealt with. But we’re just going to get the assets and buy them for pennies on the dollar. Wow. So you don’t think people are going to be affected by this, the WeWork bankruptcy, it’s going to be scooped up by somebody.
You’re going to see some rich, fat cat hedge fund owner come in and make an offer on that place that’s going to turn it around. But will the banks take a huge hit? Oh, yeah. Now whenever I talk about things like this, they say, us taxpayers are just going to pay this. These people are going to get off scot free. They won’t have to pay anything. Guys, there’s going to be ramifications for this.
This is going to affect absolutely everything that we do. Absolutely everything that we do is going to be affected by this debacle. You don’t want to go back to work. You don’t want to go back to an office. You don’t want to be surrounded by Moen accounting, who’s an idiot, and everybody can’t stand working with these people. That’s the thing. Just a matter of time until this catches up to us.
But the refinance, you lost one of them. So the refinancing is not going to happen this time, guys. It’s going to be a real, real issue. So it’s going to be an issue, guys. So share your thoughts on this stuff. But this debt is going to be a real problem. Now there’s more to this, okay. And I’ll cover that. But this is a beautiful spot, man. This is just great.
A friend of mine, Hawaii, right now sending me pictures. I sent him some of this. I said, yeah, I didn’t have to go 3000 miles to do this. I just drove down the street. So share your thoughts on this stuff so far. Let me know if you think that this is going to affect everything because you haven’t seen anything yet. Plus there’s a bunch of crazy stuff to cover in this video as well.
Let’s talk about our sponsor, Patriot Gold Group. There is a statement that gets thrown around a lot and that is be your own central bank. Well, let me give you a stat that’s absolutely scary and that is our government right now spends $218,000,000 per hour on our national debt. They’re going to run out of money, guys. You need to protect yourself and your family and your retirement by getting yourself into a hedge against inflation and this crazy debt by getting yourself into gold.
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Call them today and protect yourself and your future. 8833 00:14 31 Let them know that I allegedly sent you or use the link below. Here’s a few stats that are just absolutely staggering to think about. First one is our national debt. Think about this. Our national debt goes up every day, $5. 2 billion a day. How do you overcome that? $5. 2 billion in one day? That’s $218,000,000 per hour.
They anticipate that our national debt is going to hit $50 trillion by 2033. If things stay just at the pace that they’re at. If they go up and these spend hounds in our government spend more money, we’re doomed. Guys, it’s going to be faster than that. But again, $50 trillion, it’s not going in the right direction. It’s going in the opposite direction. It’s supposed to go into now.
New York City. Got to love the Big Apple. They’re number one again. And they’re number one for retail crime. Bravo to you guys. 93,000 incidents of retail crime were recorded this year. 93,000 retail crime incidents. It’s up 64% for the year. Okay, now, listen, you’ll love this. They’re saying, listen, we’ve started to curtail this, and we’re really proud of this because earlier this year, the stats would have been up so bad that it would have been up 92%.
Okay, so we’re starting to crack down on these people. It’s only up 64%. Are you kidding me? Again, who in their right mind would go to New York? This doesn’t include the robberies, the carjackings, the theft, the muggings, everything. Everything that makes New York worth going to. Okay, now, New York is number one. Number two. Come on, guess. I know what you’re thinking, but it’s not. It’s LA.
Los Angeles is number two. They’re up 61%. I know you’re going to say Chicago, but no, they’re number three. Okay, so staggering, guys. Absolutely staggering. So another thing that’s staggering is, you know what? You’re going to start to see shortages of common food items, common household items, and fruits and vegetables. This year, it’s anticipated that there’s going to be a massive blueberry shortage. Can you believe that? Great story out of the New York Post talking about, you know, I know somebody in the process of trying to buy a blueberry farm right now, and I’m telling you that timing couldn’t be better for this guy because blueberries have such a.
There’s a cool thing with it right now where it’s kind of like it was when you had pomegranates come out and you had pomegranate juice and the seeds separated and everything like that. There’s something to be said about blueberries right now, all the antioxidants and all that stuff. I could go on for an hour. But get ready, guys, because you’re going to see more and more things like this.
And now the latest shortage, blueberries, guys. So share your thoughts on this stuff so far, because it’s only going to get worse, guys. It’s only going to get worse. The crime is going to get worse. Our debt is going to get worse. And again, if you’re not protecting yourself with security, with getting yourself out of these banks, you’re very foolish right now. Now, here’s the other thing. The IRS is stepping forward and stepping up their enforcement for cryptocurrencies.
And think about this. I was kind of blown away by this. The FBI has seized since, like, 2018 to 2021, about $400 million in bitcoin and cryptocurrency. I was like, oh, that’s kind of fascinating. I thought the number would be bigger. And then you find out the federal government has seized almost $4 billion worth of this. And they’ve used certain IRS rules, and there’s a new change to this right now.
And my accountant brought this up to me. People don’t disclose that they’ve been trading these cryptocurrencies. And I’m telling you, when the IRS finds out about this, they are seizing people’s bitcoin and these assets from people that they haven’t disclosed and just taking them, and they’re doing it without court orders. They’re doing it willy nilly and just taking it all. So get ready for this, because you’re going to see more and more.
They’re doing the mentos and the Diet Coke, but you’re going to see this happen more and more, guys. You’re going to see a lot more people that are going to have their assets seized and get ready. Get ready. If you are one of those people that lied about this, you’re doomed. Guys. They’re going to have it. You’re going to have a real problem. I had people that have written me lately and asked me that they’re fed up with people that got PPP loans and got access to COVID money that shouldn’t have and lied and buying new cars and new clothes and vacations and things like that.
I have a great site that you can use that you can search anybody that got these loans, and you can divulge it. So the one thing that blew me away in the city I live in is that there were like a coffee house that had four people work there. We have 61 employees. I’m like, no, they don’t. Okay, so people like that, they have issues right now that they’re dealing with.
Okay? So for those of you out there that have written me, for some reason, it’s just the last week I’ve had four people write me about this, about how fed up they are and how people are laughing about how they took advantage of the system and got this money. Okay, good luck. Good luck. So it’s coming, guys. It’s coming. Okay. Check out the link below. You can search by city, you can search by industry, by the name of the company.
You got to know all that part of it. And it’s very cool. So check it out today. You, I want to talk to you guys about something I did recently that I was just absolutely blown away by how well it worked out. And for those of you that follow the channel, I bought my son a car and I thought, wouldn’t it be great to drive across country and film beat? You guys do all that stuff? And my son absolutely freaked out.
He says, you’re going to put more miles on this car than I will at school in the next two years of me being here. Just please don’t do that. So let’s ship it. So started to investigate shipping a car. And let’s face it, guys, the industry doesn’t have the best reputation, to say the least. Lots of problems, lots of characters, to say the least. Well, I did a Dan thing and I researched this thing till the cows came home.
And my son and I settled on this one company and on demand and Matthew was the contact there. And guys, I shipped my car from California to the Boston area for under $1,200. So contact Matt. Here’s his email address. His phone number is 75431 513 997-5431 513 99. I’ve had you guys write me and say, what’s the name of that company? He was great. But what they quoted me is what they charged me.
They picked it up in front of my house. They drove it within a block from my son’s house and he walked over there to get it because they had it on a car carrier. They put 0 mile on the car. But the service was fantastic. And Matthew’s your guy. If you’re going to ship a car, contact Matthew. He’s not paying me for this. I just wanted to tell you that it was truly the best service I’ve had.
And he’s a great guy. He’s a man of his word and I just want to thank him for that. So if you guys have asked for this, here you go. Contact Matthew. And I have the email address down here. I’ve also got the Facebook page for them. But call him directly. Okay. Good luck. Guys. Guys, we are all in the same boat right now and I know everybody.
Oh, this is just happening to me. I’m the only one that’s having trouble with how expensive things are. It’s all of us. Roger, who has been a longtime subscriber, wrote me and said, hey, listen, Dan, I have been with State Farm for 30 plus years and I got a price increase for my premium. I just didn’t want to pay. I thought it was just outrageous. And I went into my agent and said, this is too much.
What’s happening? And the agent’s response to him was, listen, Roger, I’m sorry, but you have to understand, there’s a lot of people that we didn’t rewrite their policies. So you’re very lucky that you have insurance in the first Place. Wow. Now, Roger also complained about something, and that was the price of groceries. Dan, four bags of groceries were $200. Now, it’s too much, guys. It’s too much, and it’s affecting everybody.
Now, we talked about shoplifting earlier. There’s an actor that was on the Gilmore Girls. I guess he was on picket fences and was like a child actor. But this poor dude goes to target and they’ve got cameras and goes to self checkout, and you know what he’s going to do? He’s going to ring up a few things, and then it looks like he grabbed a bunch of other stuff and just walked out the store.
Well, lost prevention caught this guy, and lo and behold, he was a child actor. And Adam Wiley, I think his name was, and poor guy. But the stories below. Anyways, the guy looks like he’s always constipated. Anyways, poor guy. Okay, so, you guys, this is the biggest problem. Also, what they’re looking for with Walmart employees have told me this and target employees have told me this and that they’re so fed up with the theft that happens with the self checkout that they have a button like at Walmart.
Some of the Walmarts that are big, they have a button to disable the self checkout. Oh, why? I’m sorry, I gotta start the transaction all over again. If they think you’re doing something nefarious, they do this so that it shuts it off and you’ve got to start it all over again. We’ve had this conversation. What if. What’s going to happen when this happens? What if this happens? Well, that just happened in San Francisco.
And that what if was what if you had one of these electric vehicles going up and down those hills in San Francisco? Now, once again, used to go on Lombard street and all these great streets. You drive up and take the train, the trolley. Fantastic. So cool to do. But now you’re taking your life in your own hands. What happens when one of those electric vehicles loses power? Well, it happened.
A Google bus lost power and at the top of the hill and then slid down and crashed into a bunch of cars. So that’s what happeNs, guys. Okay. That’s what happens. Now the problem with this is how do you gauge more people, more weight? Stop and go. Going further. Got to turn around. Oh, I made a wrong turn. You know what I mean? The things that happen with these electric vehicles that you can’t plan on.
Oh, I need a full tank of diesel for this thing and I have nothing to worry about. So that’s what happened. Stories below. And I had three people send this to me, but there you go. That’s what’s going to happen eventually. People have told me, oh, damn. When these things run out of power, they just get locked up like a Tesla. The buses don’t, clearly, so they just rolled back down and like, grand theft auto slapping around and everything like that.
So share your thoughts on this stuff, guys, and I know it’s affecting each and every one of us. I know that you’re having huge problems. I know that. What are we going to do? What are we going to do to save money? What are you going to do to cut back? This is the issue right now that affects everybody, affects us all. One thing that we’ve had here in Southern California the last week is we’ve had a lot of shark sightings.
And because of the El Nino coming out with the warmer water, it creates issues. And they had a whale that was washed up and it had all these bite marks on it. And the helicopters are coming in. Lately, there’s been a lot of people complaining, hey, I see a shark. I see a shark. So swim at your own risk. But they actually closed a beach over the weekend in Sunset beach to make it safe.
So the sphere that we’ve talked about in the past, which is a fantastic venue, the CFO of the company, think about it. It cost $2. 3 billion to build the sphere. Okay? I’ve showed you guys this thing. It’s beautiful. It’s stunning you two performed there. YouTube is going to come back as a residency in 2024, but story for another day. The CFO of the company, man, oh, man, he’s taken a hit.
James Dolan, the billionaire that runs that place, is blaming this guy and saying it’s all his fault and that they lost $98. 4 million in the last quarter that just ended. Oh, wait a second. Hang on. Let me add it up. Yeah, we lost all that. So they blamed this guy, and there was a screaming match. And with that, they suggested that he stepped down and guess what he did.
Next thing is, we’ve talked a lot about EV cars in this video. You know, the Chevy Cruz from GM, the self driving car that’s out know has been tested. People have been using it for public transportation. They stopped using it because it crashed. Okay, well, here’s the thing that came out and the story is below. How many of those cars were in production? I mean, we’re on the street being driven and I’m thinking, okay, probably twelve, maybe 18 as I’m trying to figure it out in my head, 950 of those self driving cars where who’s driven in one of those things? Guys.
If you guys have driven in one of those things, that’s insane. I’d love to hear about that experience. But they stop production in the car completely. The cars are pulled off the road and they stop production completely. And the next thing is Tyson Foods recalled their Nuggets, fun nuggets, because they may have had metal shards in there. It’s like 50,000 pounds of nuggets. Now. My son, growing up, was a very picky eater.
My daughter, take her to Thai food. Hey, let’s go get sushi. Do whatever. Okay. My son, I want a grilled cheese or I want chicken nuggets. Awful. I think he stopped that about a week and a half ago. Anyways, fun nuggets, I probably had those in my house at one point, but these could have metal shards in it. So kids, what you do is you hold a magnet over your Nuggets and if it sticks, you don’t eat it.
Okay, that’s my thoughts. They got recalled. Don’t eat the fun Nuggets that are not fun. Kids. See if they stick to the refrigerator with the metal shards. Okay. Anyways, I’m making jokes. Okay, share your thoughts on this stuff so far. Last couple of stories just to end this video. And this one is, you’re going to hear a lot more of this and all the big banks. There’s an article below about how there is $650,000,000,000 in unrealized losses, meaning they haven’t taken it.
The bond market that they’ve lost a tremendous amount of money on is going to catch up to the big four banks, the bank of America, Wells Fargo, Citibank and Chase, and the other ones that have done this. So it’s just a matter of time. Final story. You know this site next door? First of all, there’s 40 million people on next door. I find it to be kind of irritating just because.
Hey, did you guys see my cat? Let me know. Okay, that notification. Hey, there’s a helicopter overhead. Do you guys know why the helicopter’s here? I don’t care. Okay, so I had to get off of it for that reason. Okay. Plus, hi, Dan. Hey, what are you doing? Why do you wear the blue shirt so much? Okay, that stuff. Anyways, they are getting rid of 25% of their staff.
So even social networking sites are losing money they want to trim. Think about this, $50 million of their costs. I was blown away. They’re going to cut $50 million. So you’re going to see more and more companies cutting back and trying to save money wherever they can. Okay? Please don’t forget to like the video. Subscribe to the channel, join our email list. The link is below. You don’t want to miss that because one’s coming out this week.
And onward and upward, guys. I will see you guys very soon. And if you want to send me anything, it’s hello at Ilege. Onward and upward, guys. I will see you guys very soon. .
