➡ Dan attended the opening ceremonies for the Las Vegas Formula One race, sponsored by Aston Martin, where he got to experience several elaborate shows and hold a steering wheel worth a quarter of a million dollars. However, he also discusses looming economic issues such as governmental bankruptcy, inflation hitting record highs particularly in the beef industry, and the financial struggles auto industry giants like Stalantis and Lucid Motors are experiencing.
➡ A variety of economic issues are addressed including the lack of spare parts for heavy machinery, significant price depreciation for previously expensive equipment, a building sale in San Francisco that underperformed by $10 million, forthcoming rent increases in Los Angeles, an outdated amusement tax in Peoria, and a positive experience at a Formula One event. The discussion underscores widespread economic instability, unfair business practices and celebrates a moment of joy in sport.

Hey, it’s Dan. Welcome back. You’re watching. I allegedly. And I’ve got a good one for you today. I am at the opening ceremonies for the Las Vegas Formula One race, and we got invited out here by Aston Martin, my daughter and I. And this is absolutely amazing. It’s raining out here. There is so much to cover in the economy. We got to see everything. The opening show, the drivers came out.

There was bands. It was fantastic. Okay, so much to cover on this video. And today we have a sponsor, Chuck Norris. Chuck Norris is back, guys. But I’m at the paddock right now, which is absolutely an amazing venue. And we got to see so much. I cannot wait to show this to, you know, Southern California brought the rain to Vegas, so we’re walking through the rain right now.

But this is absolutely amazing. You’ve got Paddock here, pouring rain, but this is just a beautiful venue. Let me show you so much of this. And there’s so much to talk about in the economy, too. I really want to thank Kate from Aston Martin for her hospitality. She showed us around the entire venue, and we got to go into the Aston Martin garage, which was a once in a lifetime experience.

I have to film this with a insert because of all the know all the bands, Journey, Jared Leto, Kylie Minoke. I mean, it was just know Keith Urban. It was all great. But I got to hold a steering wheel that cost a quarter of a million dollars. That’s going to the Aston Martin car that looks like a video game. So check this out. And I hope you enjoy this, but just enjoy the venue in the background.

I couldn’t film it normally because of all the music. Now, the US government. Our government is bankrupt, guys, and it’s just eminent. When you look at the numbers, you cannot argue with the fact that we are completely upside down financially and the problem that we have. Basically, there’s a great chart below for the article below that shows where we’re spending all our money, which is basically entitlement. Okay? So Social Security, things like that, people that are on welfare, people that are on social programs.

China calls it taking away the rice bowl. When you take somebody off these entitlements, the problem with it is when you get someone on an entitlement and they rely on it, they don’t want to work, they don’t want to get themselves better. Now, there’s a difference from somebody that’s on welfare and someone that’s on Social Security. Social Security, when it came out, was a very small tax. It has now grown to 12.

4% it is huge. It’s a huge part of what we pay people like me in their 50s. We want that money. I want to make sure I get it someday. Our government has a spending problem, and it is out of control. And we cannot generate more money with taxes. You can talk about record tax years, but it doesn’t cover anything. It doesn’t cover what we need to run a country.

And to be positive, what we spend on our military is a huge amount. And if you read this article, it’s great. It breaks it down. But the problem that you have is when you look at the interest that we pay right now on our debt, it’s insurmountable. We cannot handle this right now. So check that out. But we’re headed south, man. Things are heading out of business, to say the least.

The next thing is, remember, inflation is great. Inflation is doing good. We just hit a record price for beef, okay? Oh, you don’t count that in your inflation numbers? No. Okay. There are two problems with this. Now think about this. Our beef herd is off 51%. Our beef exports are off 14% to only 3 billion pounds, which is a ton of beef. Okay? Around the world, you have to admit it’s a lot of beef.

But when you look at the large companies that go out and they do processing, like, the largest one, Fareg, in Brazil, this company is talking about, hey, we’ve got a real problem, because they rely on our beef as well, and they rely on the imports. A lot of countries rely on the imports of this stuff, of what we make and our beef products. This is a huge problem.

But we’re supposed to be lied to and told that inflation is flat. There’s no concern. But beef is through the roof right now. And again, I have people that write me and say, dan, I stopped eating beef a long time ago because we can’t afford it. Okay? So again, the country’s bankrupt. People are upside down financially. Let me know what you think about this. I hope you like the venue in the background.

Something that’s absolutely amazing out here is they built temporary bridges. Like this bridge goes over the raceway, over Coval. This is the Ellis Island Casino. And they built these temporary structures here. Absolutely amazing. Check this out. Look at this. Look at the foot traffic this is going to have during the race. So far, this has just been shocking how much they’ve got done. I was out here just a couple of weeks ago, and you couldn’t have convinced me that this place was going to be ready? No way.

Not even close. But the rain, the lights, the racetrack. I mean, it is beautiful. Just a really exciting experience to see all this. Check this out. Isn’t that cool? This is the Ellis Island Casino. If you guys know where that’s at, on cobalt. Cheap food, good food, really fun venue. But check this out. Just a cool, cool. Keep the traffic flow. But this was not here two weeks ago.

Guys, I just want to thank Kay with Aston Martin. This was an amazing experience. To see everything that you showed us tonight to be part of the opening ceremony was absolutely fantastic. Thank you so much. This was really. Once in a lifetime was absolutely amazing. Seeing everything, being the cars, it was fantastic. Thank you. You’re so welcome. Thank you so much for being here. It’s amazing to see these walkways.

It’s raining right now. And this place is completely waterproof. I’m not slipping. Very cool. But you can see the sphere back there. Just a cool venue that they really, just created out of. Really, really nice. Let’s talk about our sponsor, Chuck Norris. Chuck Norris is 81 years old, you guys, and Chuck is in fantastic shape. He attributes it to doing one thing that he’s done different in his life.

He has put together a video for us that explains what you can do to get yourself in shape. Chuck says he feels like he’s in his fifty s and he just did one thing different. Now, when you look at diet and when you look at your exercise and eating right, it’s nice to have a guideline for that. And what he’s done is set up a program through this video that you can enjoy and see the difference that he’s made in his life.

Check out Chuckdefense. com Dan to watch this video. And it convinced me this guy’s in amazing shape. At 81 years old, he says he feels like he’s in his fifty S. And his wife tried the protocol and she said that she feels ten years younger herself. So take a look at the video today. See what Chuck Norris has done. Chuckdefense. com Dan. Check it out today. How about a couple of auto industry stories? First things first.

Stalantis. Stalantis. They used to be Chrysler, okay? Now they are going to offer buyouts to 25% of their employees that tell you the status of how that company is doing. Let’s cut our losses. Let’s get rid of people. Now, when they do things like this, it’s not because they’re making money. It’s not, hey, we want to have Fred have an early retirement. It’s because they are upside down.

Okay? So the auto worker strike has just. What it’s done is not really made a better deal for these people. It’s shed light on the fact that these auto companies are completely. You know, Bob Kudla said, hey, you could see Ford file bankruptcy. How about that? So Stalantis, with their situation, just a matter of time until they use the term restructuring, will be in the daily vernacular. So who else is bankrupt? So many people are bankrupt.

Don’t forget that. Lucid motors. Lucid motors. Think about this. They sell EV cars. They lose on every single car. $227,000. That’s the new number. I can’t even make that up. They have cars that sell for 90 grand, which is outrageous in the first place. Okay, $90,000 electric car. But they lose $227,000 on that car. $227,000 on this car. $227,000 a car is lost on selling this. I mean, what a joke.

What a complete nightmare. This is unsustainable. Now, one thing that was sent to me was the heavy equipment auction in Paris, California, was sent to me, and they said, listen, these are small backhoes. They have hundreds of them for the auction in Paris right now. These things. The problem with them is that they’re selling so cheap. They’re selling for basically $0. 15 on the dollar right now. And again, everything’s going on sale.

People bought these things and cannot use them. There’s no construction. They’re not digging holes. But here’s the thing. The company that makes these looks like they make a lot of business as well. So you’re not going to get parts for your backhoe. And again, when you break things, you dig things, you use heavy equipment, you work on cars. You need spare parts for this stuff. So there is no spare parts for things like this.

But they’re talking about these things that were once selling for 30, 40, $50,000, going for $1,500 apiece. Isn’t that crazy? Absolutely nuts, guys. Absolutely nuts. So share your thoughts on this stuff. Would you buy an electric car from Lucid right now, knowing that they lose $227,000? How does that work? How does the math work on that? When they’re upside down like that? Let me know. Okay? Let us all know.

Okay? Share your thoughts on this stuff. Few more stories. Here’s something that we’re going to hear a lot more. Okay. An office building in San Francisco, hell, okay. Is ran and leased by the State Bar association of. They. They licensed lawyers. Okay. Well, the building was sold. But the funny thing about this was it didn’t close escrow at the price that it was reported at. It sold for $54 million, $10 million less than it was originally reported.

Is that bad? Yeah, it’s bad, guys. It’s bad. And then the state bar, they’re not going to kick them out of the bill, and they’re going to let them stay through 2025, it looks like. So, just a mess. And again, our state, this state, our country, all of it is a mess right now. Okay. City of Los Angeles just agreed for the rent controlled area that there’s going to be a rent increase.

And in 2024, there will be a new rent increase. It used to be. This was shocking to me. Only 4% a year a landlord could raise the rent. That’s free, guys. That’s nothing in this world. In Orange County, I believe it’s 10% that they can raise the rent. Well, Los Angeles compromised, and they’re going to raise the rent to where it’s going to be 6%. 6%? Is that crazy? So, good luck.

Congratulations. If you’re in San Francisco. I’m sorry, if you’re in San Francisco, if you’re in Los Angeles, you’re only going to get a 6% rent increase, the maximum that you could get right now. So landlords wanted a lot more. Final story of this video, and this is shocking to me because Peoria, Illinois, people sent this to me and said, can you believe this? There was a tax on the books since.

Think about this, 2002. And what it claimed was that if you ran an amusement company, you could potentially have to pay taxes for entertainment. And, well, how many amusement parks are there in? No, no. This is. If you own a dance company, if you own a gymnastics company, if you teach dance lessons, you’re at Arthur Murray and you’re going to, hey, I’m going to learn to dance for my wedding.

You have to pay a special tax. If you are. Think about this karate studio or martial arts studio, you have to pay this tax. The worst thing about this is that there’s 18 businesses that could owe the money back to 2002. How insane is that? Guys, that’s 21 years ago. What do you think the tax would be on that? Well, we’re working it out with these 18 businesses to make it economically feasible so that they can still operate and they can stay in business.

What a shakedown. What an absolute shakedown. What a scam. What a complete joke. Gymnastics, children’s gymnastics. Let’s get kids into sports, or let’s tax you to oblivion because you have an amusement tax. Have you ever worked with kids? It’s not amusing at all. Have you ever coached any kid? Yeah, I’m amused By this. You know what I mean? Martial arts, it’s ridiculous. But again, those of us that don’t know how to run a business and sign the front of somebody’s paycheck, I know what we’ll do.

We’ll tax them. There’s got to be something. Oh, you know, I found this old tax on the books that we agreed to in 2002 because Peoria at one time was a thriving metropolis that they probably thought was going to have an amusement park. A big one there it may. Who care? I don’t care if they got the greatest Six Flags in Peoria. I don’t care. The point is that when you tax a dance studio, gymnastics, the martial artists, the MMA guys.

Hey, guys. Came here to pick, you know what I mean? It’s ridiculous. Okay. Shortened video today. Hope you guys are good. Things will get back to normal tomorrow. But the f One venue was fantastic. I truly want to thank Kate again from Aston Martin, who showed my daughter around. My daughter loves Formula One and she is really big into the sport. And this was absolutely a dream come true walking through this place.

But you guys, we got to see them work on this car. This was like watching a surgical team do surgery with these two cars and everything that we couldn’t film anything. Trust me, they would have taken our phones if we would have pulled them out. Absolutely amazing, but just a cool experience. And I want to thank Aston Martin again. So, is anybody coming out to the Formula One? Guys, this is going to be a lot bigger than I thought it was, so let me know.

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