The Economics Dont Add Up

➡ Dan discusses his recent trip and shares concerns about the economic viability of electric vehicles (EVs), particularly large trucks, due to their high cost. He also mentions a new EV battery from China that charges quickly, but questions its reliability. Additionally, he highlights a downturn in home improvement purchases due to high interest rates, which is impacting businesses like Home Depot. Lastly, he talks about changes in the real estate market, with more people negotiating home purchases without a buyer’s agent to avoid high fees.

Hey, it’s Dan. Welcome back. This is IAllegedly. And I’ve got a good one for you today, because I’m at Logan International Airport, and the economics just don’t work, and we’ve got a couple of warnings to cover. But today, please don’t forget to hit the like button, subscribe to the channel, and today we have a sponsor, Sat123, which I cannot wait to talk to you guys about. First things first, I came to Boston and took my son and my daughter to Fenway Park to see the Boston Red Sox play. I’ve always wanted to go to Fenway Park and take my son, and we finally got to do that, which was awesome.

Then, we got to go see him graduate from college. My son graduated from the University of Rhode Island. We are absolutely thrilled that he did this. He did great, and, you know, just did an amazing job. All by himself, and I’ll show you guys pictures and things like that throughout the video, but Rhode Island was absolutely amazing. What a beautiful place. We went to Newport, Rhode Island, and checked out, you know, Bowen’s Wharf. It was just fantastic. Everybody was great. Everything was fantastic. But let’s get right into it. First things first, the problem with EV cars right now is we’re getting all these warnings about the EV cars and how the math just does not work out.

And you’re seeing rider trucks. Rider trucks are the rider trucks that you see that you can rent a rider truck, you can buy a rider truck. They are all over the place, especially here in, you know, in California where I live. They are very prominent. The problem with this is that they want to have this go electric in the next six years. And it’s not. And rider is saying, listen, this is just economically impossible right now because the reason for that is that these rider trucks are four times the price of a regular semi truck. Four times.

You know, we heard about 110 percent, 120 percent, 140 percent. How about four times the price? Rider has only bought 50 trucks and they’re all used for light duty. They’re all used just to move things around from shop to shop inside of yards. They’re not used for rentals. They’re not used for long hauls like a truck would be used for. So, you know, that’s very, very serious, guys. This is not working out. And the problem with it was they had all these government incentives. And if you read the articles below about this, there are all these government incentives that made it so that people could do this.

And it’s not the math isn’t adding up now because the unions loved it because they they put their foot in the neck of these auto manufacturers and truck manufacturers and made them charge huge wages. But it just did not work out. And now you’ve got a bunch of products that nobody can afford that nobody wants. The inventory is growing in every single company. Now, you’re seeing some advances and here’s something because it’s unreliable and we can’t trust a thing they say. China says that they developed a EV car battery that will charge in 10 minutes and it will allow you to go hundreds of miles.

And again, 10 minute charge that will revolutionize everything. Now, what’s the cost of this? What’s it made of? Where’s it made? Who makes it? You know, all these questions that we just can’t get firm answers to. But don’t worry. It’s going to revolutionize everything. OK, no. OK, who believes that? I don’t think it’s ridiculous. So, you know, let me know what you think about this. I think it’s crazy because the warnings that we’re seeing right now in the economy are very serious right now. Home Depot issued a warning and their warnings really crystal clear. People are putting off major purchases right now when it comes to home improvements.

They’re not doing the pools this summer. They’re not booking roofs. They’re not booking backyard upgrades, patio covers, decks, landscaping. They’re putting it off and Home Depot is feeling it because of the high interest rates and a lot of contractors that are smaller and bigger have Home Depot Pro accounts. That’s what they’re called. And they’re not buying things from them. They’re not reserving lumber. They’re not doing things. Metal, windows, things like that that you can get through Home Depot. Now, the other suppliers are complaining about the exact same thing because of the expense of this right now.

And the interest rates are killing everything right now. So, you know, they say housing has a problem. We all know that housing’s got a problem. Things are stale. You’ve got another basically six weeks of the housing market. Come July 1st, it’s going to change everything. Now, realtors are saying this is the summer of real estate. No, it’s the summer of disappointment is what it’s already been, you know, pegged as. So it’s going to be very, very interesting to see what happens, you know, in the coming months and, you know, the year when they put off the National Association of realtor settlement and all these realtors are saying you need to get money to be able to purchase a house.

I’m telling you, my lawyer has more clients right now that are having him negotiate homes as a buyer’s agent represented because you don’t need a buyer’s agent when you buy a house. You know, what do they do? They unlock the house for you. Well, you found the house, you find it on Zillow, you find it on realtor.com, you know, places like that at Redfin, all that stuff. And people are tired of paying, you know, these expensive fees. And now no, no buyer is going to sit there and go, yeah, I’m going to go buy a million dollar house and write you a check for thirty thousand dollars for two days work.

Okay. Because that’s insane. So that’s what you’re seeing more and more. There’s a lot more to cover in this video. Let’s talk about our sponsors at one two three dot com. You guys think about this traveling anywhere now. The first thing I load up on is my satellite phone. Okay. Make sure it’s inside my bag. Make sure I have it because if the grid goes down and I can’t call people as long as I have open sky, I’m not in an airport. I can call people anywhere. I can call any cell phone. I can call my clients.

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Canada. Canada has problems with people dying and people not claiming the body because it’s too expensive. You’ve seen those commercials where, hey, get life insurance. Take care of your burial costs. That’s crazy because there are thousands of people that have passed away in Canada. Family members can’t afford it. That is that is sick. It’s tragic. It’s awful. It’s everything bad you can think of. OK, so there’s that. Now, here’s the thing. Here’s the other unbelievable warning is that, you know, there was a survey done of 40,000 businesses. Half of the businesses said that they’re concerned about if there’s not a change in the administration, that they’re going to be out of business.

People say, what can you do differently? It’s a great survey. What can you do differently to get more business? Nothing. There’s nothing that we could do differently. We can’t market differently. We can’t put more time into our business because people that used to tell me I work 80 hours a week are basically living at their businesses right now to get by and they cannot afford to keep these things going. So people say that they run the risk of completely going under and down for the count if they don’t get a change right now. Interest rates are killing them.

The fact that people have no money, the fact that everything is expensive. And that’s the one thing that was blown away. You know, I’m always blown away by these stores and stuff when you walk through the airport. Stuff’s not cheap, guys. It’s absolutely not a deal on anything. I’ve never traveled and said, wow, we got a really good price on that food or, you know, Duncan. Duncan’s a deal. No, you know, it was insane. Paid $5 for a Diet Coke today. So you’re seeing this go on and on and on in so many different industries and it’s just a matter of time until everything snaps and people sit there and say that they’re not going to be able to make it anymore.

What do you think? This place is absolutely amazing. You know, the people have been fantastic. Just such a great place to visit and walk around Newport, Rhode Island. Absolutely stunning, guys. Absolutely stunning. One thing that completely drives me crazy in California is we have these things when it’s hot that they call rolling blackouts that are a complete scam. Hey, we don’t have enough energy to go around, so we’re just going to shut off different grids at different times. You can literally drive down the street and all of a sudden all the lights go out. All the lights go out in the businesses.

All the lights go out in stop signs, stoplights, everything. How long is it going to be down for? We don’t know. We’ll let you know. But one thing, the National Association of Economic Reliability Corporation, NERC, has issued a warning for this summer and that there’s not enough power in the power grids for the entire country. So you could see power getting shut off in different areas of the country where we’ve never had problems before. Well, do you pay your power bill? Yeah, this is their job to keep it up. You know, it’s Starbucks job to make sure there’s coffee inside the coffee house.

Oh, we’re out. You know, we may run out of coffee. Okay, stupid. Get coffee. So we’re supposed to live this way and have the power go out this summer, but go buy an electric vehicle so that you can be stranded. I am telling you, I just as I drive different places and you go to places like Boston and Massachusetts and you have these rural areas that you don’t, you know, you don’t know where there’s a gas station, you know, and thank God my son lives there. So I was like, yeah, three offerings down, we’ll be able to get gas.

It was crazy because you don’t know it, but imagine not being able to get power because the one thing I didn’t see in Rhode Island was a bunch of charging stations. And I was like, well, what do you do if you have an electric car? My son said, it’s a paperweight, as you would say, dad. So, you know, dairy cows are not getting replaced. You’re seeing that there’s going to be a shortage for our food supply in the future. Well, that’s comforting to know, don’t you guys think? You’re going to see things like not enough milk, not enough cheese, not enough food, not enough beef.

Oh, so I know that cattle and dairy cows are different before anybody corrects me again. But crazy guys, absolutely crazy. California keeps bringing up this program. Think about it. They just raised our gas tax by 50 cents a gallon, 50 cents a gallon for gas tax. Now they want to do the per mile charge. That’s the problem with the per mile charge right now. Guys, I drive 45,000 miles a year. I buy a lot of gas. So I pay a higher tax than the average person does because I buy more gas. But now they want to take it and charge me per mile more.

Okay, it’s insane, guys. It’s absolutely insane. These people don’t know how to govern. They know how to govern people out of the state is what they know how to do. So you’re going to see that. You’re going to see more people flee California and, you know, just a matter of time. But what do you think about that per mile tax? They beat it so many times. Every time a new politician brings it up, you have somebody in a new area. Now it’s San Diego that’s bringing this up again. Okay, so let me know what you think about this.

Last two things on this video just to end a quick little video for you guys. Dr. Marvin sent me this one. How about this amazing staff? 60% of all teachers surveyed say that they feel unsafe going to school right now because kids are so dangerous because of the horrible parenting that’s going on out there. Now, the first story, which we’ll read below, is about a woman who was savagely beaten by a 12-year-old. Okay, 12, 12. Okay, so I’m sure mother and father of the year, if they’re in the picture, you know, just raised, you know, a fine, upstanding citizen who couldn’t, you know, understand the word no, sit down, be quiet, do your homework, and shut up.

Okay, I added the shut up part. Okay, but people are unhappy. People are miserable, but people are raising hooligans right now. That’s the problem with this world. Correct me if I’m wrong. Okay, final, final story. And again, this is a great one out of the New York Post. Shoplifting claims. Now, think about this, not arrest. Hey, somebody stole from us. And, you know, we want you to come down here. Shoplifting claims have gone up, you know, over 100% in New York City to where they had 21,000, over 21,000 shopping claims of people ripping people off inside stores.

Claims. Think about this. Cops aren’t out. The cops are arresting people. These people aren’t being punished. These people are being let go. And it’s crazy. So be back tomorrow on a regular schedule. Hope you guys enjoyed this. Onward and upward, guys. Please, you want to get ahold of me? Hello, at iallegedly.com. Also, if you want to join the email list, use the link below. It’s the thing on top. Okay, check it out. I’ll see you guys soon. Thank you. [tr:trw].

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