➡ Dan discusses the high cost of living in California, with many people struggling to afford basic necessities despite having jobs. He also talks about the state’s growing deficit, the challenges of electric vehicle (EV) ownership, and the potential for a recession. He mentions the closure of stores like JCPenney and the struggles of high-end brands like Burberry. Lastly, he warns about companies overcharging customers and advises people to carefully check their bills.
➡ This text discusses various issues such as overcharging by electric companies, the misconception of self-repossessing Tesla cars, the impact of student loan debt on credit scores, and the importance of maintaining good relationships with insurance agents. It also mentions the upcoming merger of Dicks Sporting Goods and Foot Locker, and the potential global expansion of Dicks. Lastly, it touches on Elon Musk’s involvement with Dogecoin and its perceived impact.

Hi, this is I, allegedly. Welcome back. I’m Dan, and I’ve got a good one for you today because things are gonna get much worse before they get better, and there’s a lot of things to cover in this video. So, hit the like button, subscribe to the channel. If you’re on the email list, which everybody should be, check your spam filter, but let’s get right into it. You know, California is one of the richest states in the country, by far. We just have, you know, great real estate, great wages. But when you compare it to the cost of living here, it’s out of control.

And this is something that a lot of people write me about on a regular basis, and just how expensive certain things are. And, you know, we’ve dealt with everything from property taxes lately, to insurance costs, to fuel costs, to heating and energy. And, you know, thank God we didn’t have a really bad winter this year, but it’s crazy what people can afford. There are almost 4 million people in this state that cannot cover basic necessities and basic needs, staples of life. Now, with that being said, that’s 35% of the state and the population. 97% of those people have at least one person in the house working.

So, here’s the thing. You may have a young child who can’t work, you know, so that’s what’s affecting all of this. But when you hear the wages that these people are making at $65,000, I don’t know where you live for $65,000 in this state. And the problem with it is that even the war zones, even the bad places in Los Angeles, Santa Ana, I mean, here I am walking on Dalbo Island. But as you walk and you go to these different areas, they all have bad areas and you can, you know, cross over and get yourself to, you know, rental areas that I wouldn’t sleep at.

I wouldn’t park my car and walk to my car at night, just bad, bad areas. But a lot of people have no choice. Now, you know, our governor just keeps talking about how this deficit keeps growing. Now I’ve heard it’s as high as $15 billion and the majority of it is money that we’ve spent for insurance to help people that are not from this country. Crazy, guys, absolutely crazy. But when you hear this, you know, people are making sacrifices and going without, going without food to pay rent, going without car insurance to pay rent. I’m telling you guys, that is the kiss of death.

The way that the life lottery works is that you’re going to get in an accident if you don’t have insurance. It’s just going to happen, you know, and it’s the karma of life that we have to deal with. So I’m telling you, budget, do what you can do, research things, try to save money on everything that you do. Now, one thing that’s funny lately is people sent me a lot of different articles about EV cars. And the EV car problem is this. Think about this. How long does the average gasoline-powered car last? 12 years right now, which is nothing.

Used to be 18. Drop, drop, drop the quality of manufacturing, motors, you know, all the recalls that we read about from these, you know, American car companies getting worse and worse and worse. So the average car, gasoline-powered car, lasts 12 years. How long does the average EV car last? Three years right now. Tesla has so much inventory right now that you cannot trade a Cybertruck in. Now, you know, they’re trying to make a big deal. Nobody wants these cars. No one’s buying them. I don’t think anybody can afford those cars right now. You know, the waiting list for those cars, there were thousands of people.

And, you know, what did they sell? 20,000 of those cars? It was crazy, guys. Because now there’s a new, that EV car, that slate truck that will never get built. They have well over 100,000 deposits on that car, and that car will never be built. Everybody I’ve talked to, in insurance, in manufacturing, everything, it’s just a kit car. It’s a joke. It’s designed to spur interest, but they’re taking your 50 bucks. And it will be interesting to see if that ever gets built. Now, the economy is not well right now. People know that it’s going to get worse before it gets better.

Even our main man, Jamie Diamond, man of the people, he’s like, hey, don’t rule out a recession right now, okay? People are navigating their little doggies. So don’t rule out a recession right now. And regardless of all these deals Trump is making, trillions of dollars, he’s bringing them back home from Saudi Arabia and everybody else. It’s just, you know, is it going to help? Yeah, someday. It’s going to do great things. It’s going to be unbelievable. Think about this one. This is a good one. Carrier air conditioning. It’s a great company. Good, strong manufacturing unit.

It is a quality product when it’s installed. They had a lot of people that I know that have had carrier air conditioners in the house. Well, they’re going to move manufacturing here to the house, here to the house, here to my house, here to the United States. And it’s going to bring 4,000 jobs to the United States. That’s unbelievable, guys. That’s a huge amount of jobs. It’s going to bring billions of dollars of investment, but that’s going to take four years to get that here. Okay, four years. One store I love to talk about because there’s this one guy that you can’t use my name because he works there.

And he every time you talk bad about this company, you don’t know they’re the greatest company in the world. JCPenney’s is hanging on by a thread right now. They’re going to close more stores between now and May 25th, which is, you know, just a few days away. So with that being said, you’re going to see more and more of these places closed down. You’re going to see your favorite drug stores closed down. You’re going to see your favorite stores that you buy stuff from closed down. What is surviving right now? Discount stores aren’t surviving. But JCPenney’s, it used to be a jag or not in the clothing industry.

When? When was that? Well, I missed that part. And I’m, you know, I got a few years on May. I never remember JCPenney’s as being a good place to shop and buy anything. So let me know what you think about that. I think it’s funny that we’re experiencing this, you know, all over the place. Burberry. Burberry is a high end store and they’re out of the UK. They’re going to get rid of 1700 people. 1700 people are done. OK. Gosh, guys. You know, think about this. People don’t have the money for a $3,000 handbag. What a $5,000 handbag.

And that’s nothing. My handbag cost $8,500. It’s the greatest thing I ever purchased. I have insurance on it. OK. Dr. Marvin sent me this one. Sunseeker Resort in Florida. Sunseeker Resort has not been able to get over 35% occupancy for almost eight months now. In Florida. Beautiful resort. 785 rooms. Nope. No, no, no. They’re done, guys. You’re going to see them file for bankruptcy this week. But again, this is the season. Here’s the thing. I went to Florida a few years back a couple of times. And it’s like this all the time. It’s beautiful. I hate how the humidity and how muggy it is, but it is just beautiful.

And it’s like, you know, honey, let’s go. Let’s leave New York. Let’s fly down to Florida. Let’s say the Sunseeker on the beach. No, 35% occupancy, guys. But the problem with this is that what do these hotels do? They cut back on the staff. They cut back on the amenities. You know, they cut back on the restaurants that are open. We don’t need to have three restaurants. We can get by with one. And it’s terrible, absolutely terrible. You’re seeing this more and more and more. But again, thank you, Dr. Marvin, for sending me all this stuff that you always do.

And it’s terrible. You know, I’m always telling people to watch your bills and to look out for getting overcharged. And the problem with it is people nowadays, you log into your bank account, go pay for less, go pay for less. You log in and get your your electric bill, go pay for less, go pay for less. And a lot of these things, the thing that’s maddening and T-Mobile is about to get sued for this. And hey, we want you to go pay for less. And if you don’t go pay for less, it’s going to cost you $5 more a month.

Then people went pay for less. And now they’re not refunding the $5. Well, wait a second. I’m now pay for less. I want the $5 taken off my bill. No, no, no, no, no. That was just for a set period of time. They’ll get sued for that. And you’ll get yourself a refund someday. But the electric company, Nevada Electric, Nevada Energy, think about this. 80,000 customers got overcharged. 80,000 to the tune of 17 million dollars. And this was going back. I’m going to make sure the first starting year, right, because it was just disgusting. This goes back to 2017 to April of last year, 2024, 2017 to 2024.

So, you know, the O is a COVID problem. No, it wasn’t. It was a problem that you guys are a den of thieves ripping people off and overcharging them and not thinking anything about it. So now people are going out and they’re having hearings about this and meetings about this that you’re paying for off your electric bill. And then they go out and they say, hey, listen, we we need to discuss this. One woman went back and she realized that she was being overcharged and they gave her one third of what they took from her. So, no, no, no, no, no, no.

Again, I’m sure there’ll be another lawsuit over this and you won’t hear the end of it. But isn’t that terrible? Absolutely awful. You know, so one thing that’s funny that we hear about is people have a lot of debt when it comes to Tesla vehicles. And whenever anybody hears what you should do, if you want to give you want to give a test the person a hard time, just tell them to go make a car payment. That’s what I do when they cut me off and things like that. But anyways, one thing that’s funny is there’s a story about how I walked out of my house last week and saw my Tesla.

Back up and drive back to the dealership because of the heavy debt load and people are taking this seriously. Oh, my God, it’s self repossessed. There’s not there’s no technology for that. Ford filed for the patent for that in twenty twenty three. And we talked about that. But guys, this isn’t in place yet. They’re not repossessing vehicles and having them self drive back to the dealership. That is complete shenanigans. And it’s a lie. But again, there’s over 80,000 of those cars that cannot be sold. That is crazy, guys. You know, that’s not so you got a hundred million dollars.

You got hundreds of millions of dollars, excuse me, like eight hundred million dollars worth of those Teslas or something over there. But interesting, you know, you’re going to see a lot of this stuff come out in the coming weeks. And, you know, one thing that we talked about earlier this week was the problem with your credit score being affected by student loan debt. I’ve had people write me and say it was like overnight once they said that I was delinquent. Now, here’s the thing, guys. I have a buddy of mine who’s fine. I think he’s financially savvy.

He’s a really good guy, a good businessman. He just bought a house with nothing down with a loan right at eight hundred grand. That’s what they have right now. You can do that if you’ve got the good credit like he does. He’s got a great job. He’s been there for a long time. And I’m not going to put money down, Dan. He’s going to pay my closing costs, which will be less than ten thousand dollars for everything. Inspections, for the closing costs, for everything he has to pay, it’s going to be less than ten thousand dollars.

And he’s got himself a hundred percent financing. It’s still out there. But he doesn’t have, you know, 80 grand in student loan debt. You know, it’s just so much. And people are just people are out of control when it comes to this stuff. So you’re seeing student loan people with these student loans, their credit scores are dropping so fast. They’re going down as low as six twenty overnight. Not terrible. You know, I talked about this on the other channel and that is State Farm got approved for 19 percent price increase. And make sure you have a good relationship with your insurance agent and talk to the agent.

Not Becky that answers the phone, who may be very nice. But I’m telling you, have communication with the main people of the company. Because if something goes down, you want to be able to talk to them about this and resolve it with, you know, somebody that knows you and can deal with it. That’s the only person I deal with when it comes to that stuff. So I covered it all on this. There’s going to be a test at the end. So you guys ready? OK, let me know. Oh, final, final story. And this is supposed to revolutionize everything.

People are broke right now. Jamie Diamond says get ready. But let’s walk up in a private dock. Dicks, sporting goods, which I always thought when my kid was in sports, I hated that. Hey, we’ve got a partnership with Dicks. If you buy from them, we get an extra 15 percent off your purchases towards the league and towards the team, which sucked, guys, because they were so overpriced. You buy a glove that would be 60 dollars one place and it would be 110 at Dicks. Well, Dicks is going to buy Foot Locker. And again, this is what you’re going to see more of.

And that is to be able to form, you know, what do you have that’s going to benefit us? We talked about a home builder, two home builders that have offices here in Newport Beach that merged this week. And their marketing is different. What they have Foot Locker, believe it or not, has an international presence. And they’re going to bring Dicks globally. So it’s going to have the Dicks name to it. And Foot Locker is going to become Dicks. OK, so we’ll be interested to see how that plays out. But hit the like button, subscribe to the channel.

Again, check your spam filter for the email. Let me know what you want to see. Hello at iAllegedly.com. And onward and upward, guys, there’s so much going on right now in the economy. Don’t believe all the shenanigans. Teslas are self-driving back to the dealership. You know, Elon, Elon regrets it. I had a woman walk up to me at a restaurant last night and she’s like, yeah, I bet your boy really feels bad about what he did. And I’m like, my boy, my boy, who are you talking about? Elon. And I said, that billionaire doesn’t have to worry about me, lady.

I don’t know. I’m sorry. I don’t know why he’s my boy. Yeah, he just made such a huge mistake doing what he did, helping out with Doge. OK, guys. I mean, think about it, guys. If I could help you save money like that, I would do that in a second. Let me know your thoughts on all this stuff and I’ll see you very soon. [tr:trw].

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