We are Headed for a Crash Landing
Summary
➡ A man in Kentucky is struggling with a 75% increase in rent and a 30% increase in car insurance, reflecting a wider issue of people unable to afford basic necessities due to rising costs. Electric vehicles (EVs) are not selling well, with many being shipped to Scotland and other islands, and companies like Cadillac are unsure about their EV plans. Cyber attacks are shutting down cities like Wichita, Kansas, and there are concerns about increasing bank failures. Meanwhile, homeowners association fees are skyrocketing, making it difficult for people to afford their homes, and there’s a shortage of certain cancer drugs. Tyson Foods reports that people can’t afford meat, indicating a broader issue of food affordability.
➡ The article discusses the current tightening of credit, affecting even those with good credit scores, as banks are becoming more restrictive with loans. It also mentions the increasing theft of copper cables from Tesla charging stations, causing problems for electric vehicle users. Additionally, it talks about a marathon runner who was disqualified for receiving water from his father instead of official water stations. Lastly, it introduces a new $40,000-a-year fitness and health program from Equinox, a high-end gym, which seems unaffordable for many people in the current economic climate.
Transcript
This is going to be a hard landing as far as the economy. We’re not going to have the six rate cuts that we’ve talked about. And it’s funny, Citibank has conflicting stories in this video. He says, we still may have four this year, but most likely it may be less. Okay, but what we’re dealing with right now is the fact that the labor market is completely off. You know, we added 315,000 jobs in March, and everybody thought that that was fantastic. And they were government jobs and they were part time jobs. And then we only added 175,000 in April, and that was the end of that.
So it’s reversed. They thought there was going to be 250 to 275, and it was 175,000. So. And plus, you know what’s going to happen? They’re going to revise those numbers down. So, you know, every now and then I get a subscriber that sends out just an ammo, just, just a, just an arsenal of stories that are unbelievable. And Jim did this, and it’s in this theme that we’re going to have a hard landing. So I really want to thank Jim for this. But the first thing is he did ten stories. Okay? And the retailers right now are having a real problem.
We know who’s going out of business. We know all these stories that we’re hearing about how they’re not making any money, rents going up, you know, they’re having trouble with labor, and it’s just a matter of survival and who’s going to go down next? You know, I keep getting these stories sent to me that keep getting updated. And just Roux 21 was a store that we talked about last week that lost 530 stores. And the people just keep adding to the list. So who’s next? Who’s going to go down? You know, I’ve talked about JC Penney’s in the past, and they have all this money behind them now and all this investment.
But who shops there right now? Do you guys go to JCPenney’s, Macy’s? The same thing. I had a friend of mine who said I was given a gift card for $100. Should I get there? Go there now. Don’t hang up the phone. Go. Go there now. So this is where we’re headed, guys. We’re headed to an economy that’s going to have real difficulty. You’re going to see the commercial real estate crash first. You’re starting to see areas where there are more houses on the market. But I am telling you guys, I don’t care what the real estate agents say, the people that write me and say that this nar settlement is no big deal.
It is. It’s going to revolutionize and change the real estate market forever. Okay. Once this agreement gets in place, but during that time, you’re going to see a lot of real estate agents continue to go out of business. The next thing is consumer confidence. Right now. He sent a great story. These will all be in the video description below about how our consumer confidence has crashed to a 21 month low. So since COVID ended, we still have people that feel worse today than they did during that time. Okay, well, wait a second. We should have growth and prosperity and everybody feeling great about everything right now, and, you know, they don’t.
And, you know, people that get real, people that understand, wait a second. Maybe we’re going to have a problem. Maybe we shouldn’t buy a house right now. Maybe we should not do the remodel right now. Maybe we shouldn’t go on vacation. People are starting to weigh what they should spend money on, you know, and then again, Citibank had another, the CEO of the company saying the term hard landing. We are going to be headed for a hard landing and talking about how people are having a difficult time with money, with retirement, with savings. Again, you know, Jane Frazier, the CEO, she’s doing this massive cut to try to make the place profitable, but she sees the problem written on the wall.
You’re going to see more Citibank branches closed just for simple economics, not because they’re in trouble. I actually think when you think of the big banks, when you think of Citibank, Wells Fargo, Chase and B of A, I think Citibank is much better shape than B of a is. I mean, that’s just my opinion. But, you know, correct me if I’m wrong. And then, you know, us economists for the government is stepping forward, talking about how, you know, the kids of today have no idea how bad this debt is going to affect them when it comes to their future.
How? There may not be services, there may not be retirement programs, there may not be Medicaid and medical help for people in the future, disability and things like that. With this debt that we have, you know, you can’t borrow yourself out of debt. Every hundred days, our national debt goes up by $1 trillion, and nobody can fathom that. You know, it’s, it’s so outrageous and it’s so out of control. But, you know, it’s very windy up here lately. So I went to the park just to get a break and, and walk and talk about this stuff.
But again, Jim sent me all these stories. These are fantastic, and so did other people. But just, we’re covering so much of the stuff that he sent today. Let’s talk about our sponsor, the satellite phone store at sat one, two, three.com. You know, one thing that we have to prepare for is the cell phone grids going down and our lack of privacy when it comes to phone calls and people watching us. Okay. The satellite phone store has a wide variety of satellite phones and also things like this encrypted, I call it the James Bond phone because it is truly the coolest thing that I’ve ever had in my life.
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The James Bond phone is very cool. Okay. Check out everything that they have today. It’s absolutely amazing. But go to dansatphone.com. Coolest thing, simplest way to get there. But use the link below to get yourself there. Now to continue with our theme of the hard landing, think about this. You’re going to have gas prices go through the roof. We have many places that are being sent to me here in California that are well above $7 a gallon. And yes, I’ve got people around the country sending me three dollar pictures and things like that, too. It’s not everywhere.
It’s not everywhere. But Joe Biden just announced that our strategic petroleum reserves, he’s not going to refill those. And, you know, during the last, you know, election, you know, they, they used it to lower the price and now they’re not going to do it this time. So if you want a problem, you’re going to see that, you know, and the scams that people are facing right now are so abundant. It is just one thing after another after another. Here is something that’s absolutely amazing, and I’ve got the story below on this. The United States Postal Service, their website and where people buy stamps.
You have more fraud with fake websites that are acting like they’re the postal service than you do the actual postal service. There’s more activity with the fraudsters than there is with the postal service. Isn’t that wild to think about? It’s just unbelievable. So the amount of fraud, the amount of purchases that people make thinking that they’re buying stamps online, thinking that they’re shipping things online, advice and it’s a fraud program. Read the story below because that is just, that’s unbelievable right now. So, you know, the cybersecurity problems that you have right now, I’m telling you guys, one thing you need to look at real hard and fast is that, you know, the VPN company, private Internet access that I talk about a lot, they’re coming back this month.
But I’m telling you guys, while they still have that deal with 83% off, take a look at that because that’s a big deal. Trains coming over. So, you know, here’s another familiar thing. A man in Kentucky, it’s a story below that Jim sent me and he was talking about how his rent went up 75%, 75% for his rent, his insurance for his car insurance went up 30%. I can’t afford to live. And he’s not alone. So many people right now are broke because they finally get ahead. They finally get a good job, making enough money, but their fixed costs are through the roof right now.
Can’t afford, you know, can’t afford the rent, can’t afford the insurance, can’t afford food right now. And this is a real, real problem. You’re seeing the food issue be a problem for everybody. And again, inflation is only at three and a half percent. The one thing that I love about the UK audience is that they’re finally admitting that the inflation there for food is 1011 12%. And they write me and tell me it’s 18%. So when you see tomatoes that are $8 and you see a head of lettuce that’s $6, just crazy stuff that people can’t afford.
This is what the man in Kentucky is talking about. Let me know what you think about this so far. Let me know, you know, do you think things are gonna settle down? Do you think that there’s gonna be rate cuts? Because I don’t, you know, there. You can’t tell everybody. Everybody. You can’t tell everybody. Everything is good when you know it’s not. You see, I had so many people send me this story. There is an abundance of EV cars that are being shipped to Scotland and shipped to different islands because no one’s buying these EV cars.
And I get people that are fanboys of Elon Musk, and I get it, guys, okay. I really do. Okay. He runs basically the best EV car company out there, but it’s a mess right now, guys. People can’t afford these cars. They can’t afford new cars. And then Porsche and Cadillac. Let’s use Cadillac. First they announced, you know, they’re going to have all these beautiful EV cars and. Nah, you know what? We’re going to go all EV by 2030. Well, wait a second. Maybe it’s going to be 2035. Maybe it’s going to be 40%. Maybe it’s going to be only 60%.
They keep throwing these different numbers around, but no one’s buying these cars in abundance, and it’s a real problem. But the thing that everybody keeps coming back to me on is the time wasted and the maintenance. People buy these cars for their sales staff. And let’s face it, if you are a rep, if you’re supposed to be out making sales calls, they don’t want to hear about you sitting someplace for 40 minutes to charge your car to get it to 80% so you can continue your day. They want you to gas up on your own time and get going.
So let me know what you think about this stuff so far, because it’s just a lot of problems. Now, we’re told that there’s fantastic growth in the economy and things are great and everything’s good. Where’s it coming from, guys? Where is this growth at? Where is this robust economy at? Okay, you know, we talked about a little cyber security issue with the postal service. Well, how about Wichita, Kansas? Right now, the city is shut down right now because of a cyber attack. No city business right now. No emails, nothing. Pay the ransom or else. I’m telling you guys, these it people should be fired.
First of all, it is. I blame them wholeheartedly because somebody at these municipalities, banks, you know, hospitals, everybody should sit down and say, you know, where our vulnerabilities with our it program, with our computers, and they should be working on this 24/7 right now. And again, these guys got shut down. The courthouse was shut down for a very long period of time, and now they shut down the city just to show you that we could do it. So you’re gonna see more of that. Next thing is the, you know, we’re spending more on, on interest right now than we are in our defense of our country, which is insanity.
Okay? That’s nuts. So as we deal with this, you know, where do you draw the line? And again, you know, the people that write me and say that they’re just going to forgive all the debt and this is all going to go away and they’re going to flip a switch and everybody’s going to start at zero. How about the people like me that don’t owe anybody any money? What do I get? You know, I don’t get my student loans paid off that I don’t have. So what do we get for this? Okay. And the other thing is the bank failures.
You’re seeing more bank failures coming down the road. Remember, it’s all done. It’s all been solved. We have nothing to worry about. But we do. We have a big problem ahead right now. And the Biden administration, you know, understands this, that just don’t worry. You know, it’s gonna be fine. It’s not gonna be fine. So let me know what you think about this. Trying to find the peacocks, the wild peacocks that are out here. One thing that was sent to me was a Dave Ramsey story about how people’s Homers association went up from four hundred dollars to seven hundred fifty dollars and they didn’t have the budget to keep the house.
And now they have to sell the house and are having real difficulties. This is just the beginning of this because one thing that people are sending me, and I’m telling you, I could show you receipts for food. I could show you a lot of different stuff that people are sending me time after time. But the one thing is the Homer association fees. You ever want to, you know, you ever want to look at some crazy numbers when you go on zillow and you look at places like Florida that has thousands of homes for sale right now and condos, look at how much the Homer association fees are right now because they’re nuts right now.
How about you have your house payment and the Homer association fee went from nine hundred dollars to three thousand four hundred dollars a month. How do you afford that? You don’t you know, it’s bankruptcy time at that point. I mean, it’s just done because people that are on a fixed budget, they’re not going to be able to survive that financially, you know, how about this number, renters that said, hey, listen, our next step is to buy a house. We’re ready for the next step and become homeowners. That number has dropped to its lowest level ever. And where do they do the survey? Florida.
Okay, so Florida’s got real problems. Steward medical in Dallas has eight Florida hospitals. And again, people in Florida sent me this. Doctor Marvin sent me this one. And what you have is you have eight hospitals that they just filed bankruptcy for. Listen, the only way we can continue to operate and maintain patients is to be in bankruptcy right now. Wow, that’s stellar news. You know, one thing that I have too much experience with is chemotherapy and cancer treatment. And right now there is a shortage of certain cancer drugs that are out there. I’m telling you guys, you have to take proactive care with your health right now, with your insurance, with your medical care, with your prescriptions.
I was in my pharmacy today saying, hey, listen, I need this, this and this. Oh, they’re not going to pay for that. Okay? I’ll pay for it myself. I just want two months, get it okayed through the doctor and through the insurance, okay? And they did. Okay? So. And again, it was, it was under $100 for peace of mind if there’s a problem. And there will be problems, guys. So get yourself ready for that. Tyson Foods, with its chicken, says that people cannot afford meat right now. Their numbers are going down. And I’m not talking about eating bugs or let’s go grab a handful of leaves, okay? I’m not talking about anything stupid like that.
I’m talking about the fact that people cannot afford to go out to eat. People cannot afford to eat even in their own home. And think of, when I think of Tyson foods. There’s two types of Tyson foods. They’ve got the chicken that’s fresh that you buy and you cook and it’s fresh. You know, freeze whatever you’re going to do with it for a later date. They got chicken nuggets and all that other stuff that they have, but their sales are down and they anticipate that they’re going to go down even more because people are cutting back in huge ways.
Now, I did that story about Carl’s junior with the two burgers for $10.99. And people said, you know what, Dan? You gotta go to Shake Shack. You gotta try this. Now I want you guys to see this because the burger, I went there. It was fantastic. But take a look at this. So I’m in Irvine, California, and this is shake shack. This is lunch for one. This is double bacon burger, crinkle cut fries. Nothing special. Bacon was so thin, you could read a newspaper through it, but it tasted good. Okay, this was $22.70. I’m gonna finish this video with these last few stories.
And one thing that I studied quite a bit of was the Great Depression and what caused it. What happened, when did the country get out of it? And the impact it had on small businesses and people that were just. That basically lived in squalor after that. One thing that happened was that credit was cut off to people. It was cut off to businesses. People couldn’t buy product with credit. They could not finance with credit. Businesses could not buy materials. They could not buy supplies. They could not pay their employees because they did not have access to credit.
One thing that we are seeing right now is we are seeing a tremendous amount of credit tightening right now. And the credit tightening is something that you just can’t say, oh, it’s only the deadbeats. You got to worry about that, Dan. It’s not. The good people aren’t having this problem. It’s just the degenerates of the world. No, it’s not. I am telling you this. When you read the story below about this, there is so much that’s going on when it comes to banks not getting. Giving people loans right now and tightening their restrictions. And this happened in March, it happened in April, and it’s only getting worse right now.
Darlene wrote me, longtime subscriber Dan, I had to write you about this because I’ve been with Citibank for 30 years and I have five accounts with Citibank. My credit score, just so you know, is in the high seven hundred s and it’s been above 800 in the past. Okay. They shut down four of her five accounts. No reason. Just shut them down. We’re not going to let you know. You know, her advisor in the bank, which I called a little bitch because he couldn’t answer any questions. What happens when you have a customer service person that cannot answer questions? Why are you closing four of my five accounts down? Okay, so it’s ridiculous.
Okay. This person is, you know, might as well just be a secretary that answers the phone. And where would you like your call sent? Not a banking liaison. Ridiculous. Okay, think about this. Checking accounts closed, but okay, her CD with money sitting in there. That’s locked up for another five, six months. Whatever it is, we’re going to keep that open. Don’t worry about that. Okay, so Darlene’s got money, and this is how they’re treating her. Get ready for what is coming, because for the rest of us peasants, it’s only going to get worse. Okay? Now, Tesla, I talked about Elon Musk earlier.
There is a tremendous amount of copper at those charging stations that you see on the side of the road. And these thieves are just going there and cutting cables and stealing the copper cables. There is a great story below about this. It’s unfortunate and sad because so many people are, you know, God, if we could just make it to this, the next station, we’re going to be able to charge. Imagine getting there and you have no cables to charge. This is happening more and more and more. I want to know. It should be a crime if you get a copper cable from a Tesla charging station.
That should be a criminal act. Now Tesla is saying, oh, we’re done with this. We’re going to stop, you know, fixing these. We’re going to stop doing this, you guys, there’s going to be problems with this. So there’s that final, final story is, you know how people get a gym membership and then they don’t use it? Okay. Happens all the time. Okay. I’m gonna, you know, I’m gonna get myself an exercise program. It’s funny, we have a marathon here, the Orange county marathon. I’ve run the half marathon three times, 13.1 mile. How about this one? The winner of the Orange county marathon over the weekend was disqualified because he got help along the way from somebody on a bicycle.
I’m like, oh, my God. Did the guy on the bicycle give him a ride? That’s what you’d think, right? No, the guy on the bicycle was his father, who gave him water during that time. And you’re not allowed. I never knew this. You’re not allowed to drink water from anybody other than the water stations on a marathon. Who knew? Do you guys know that? I never knew that. I’ve ran these things before. You know, you see some hot chick on the side of the road, and she’s got a cup of ice water. Yeah. Okay. Thank you.
What, am I going to turn that down? Okay. At mile eight. Okay. Anyways, equinox, the gym, the high end gym, they have a new program called Optimize by Equinox, which we want you to sign up for. It is not only a fitness program, but it’s your health program. It’s sleep, it’s nutrition. And you’re going to get advisors are going to help you with this. It’s $40,000 a year. Can I sign up you and your girlfriend today? 40 g for a fitness program again, high end gym. Okay. It’s very expensive as it is, but who’s got 40,000 extra dollars right now? Seriously? Okay, okay.
Just let the jokes run because there should be a ton of them right now. Please don’t forget to hit the like button. Get ready for the hard landing. Subscribe to my channel, please. Okay, we’re growing. We’re on our way to 300,000. Very excited about that. A lot of cool stuff happening. If you want to email me like all these people did, I truly appreciate it. I do my best to read absolutely everything you send me. Hellogedly.com. Let me know if you want to give me a story. Let me know if I can use your name or not.
Okay. It’s always easier if you say, oh, yeah, use my name, use my first name, whatever. Okay. But thank you to everybody that sent stories. Stories as usual. I truly appreciate it and I will see you guys very soon..
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