Hey, it's Dan. Welcome back. You're watching. I allegedly, and I've got a good one for you today because you don't need to fall for this trap. And that's exactly what it is. We're going to cover that today. Plus we've got a sponsor, Patriot Gold. So please hit the like button. Please subscribe to the channel. But let's get right into it. Dr. Marvin, who always sends me great stories but always gets me good stuff that's like, that affects a lot of people. 

And this one is those discount credit card rates that you get no interest, no payments for a year. Hey, 0%, transfer your balances over and take advantage of this for a set period of time. Go make big purchases for six months, eight months, a year. And these are horrible, okay? And the reason for that is that most people don't know back up one step. And that is you've probably seen ways to buy things like no interest for six months, no payment for six months, things like that. 

Well, the problem with these things is that they're loaded. The banks get their money, guys, the banks are not here to give you free cash. And what they do with these purchases is when you make the purchase, let's say you're going to buy $10,000 worth of windows on your home and you make the $10,000 purchase, what they do is they charge you daily interest on that money. Pay it off. 

Pay it off. Hey, pay it off and you won't have any interest. The problem with it, and the same thing with these credit cards is if you have one dollars left, all the interest that was charged in those days leading up to that, you have to pay for that. So there are people that borrow $30,000 and pay it off and leave a very small balance and then they're hit with a huge charge. 

And so much so that there is a huge percentage, which is going up right now of people that do not pay this off on time. Now, it started with tv sets years ago when they would say, hey, get a tv set and same as cash for a set period of time, but it's not. And these credit card, these discount rates are horrible because people are using this thinking that, oh gosh, they've got it, don't have to worry about this. 

The problem with it is most people are lazy. Now think about this. The percentage of people that do not pay these credit cards off is well over 60%. In fact, it's almost 68% of the people that do that that don't take advantage of it and get hit with that. Now, of those people, 61%. You can read the article below said that this should be illegal because they get so angry with themselves and with the credit card companies when they don't pay it off. 

And they get hit with this huge interest rate. This huge interest hit. Now, I am at Sherman Gardens in Crona del Mar. Every year they decorate this for the holidays and for Christmas. This year, it's kind of Candyland themed. So Santa's not here, but I wanted to talk to Santa because he owes me money, and we're going to have a conversation about that. So lucky for him, santa's not here today. 

But Sherman Gardens is beautiful. This place is great. I've been to so many events here. Last time I was here for an event was the Newport Beach Film Festival. Was great. All this different food, all this different place decorated, but just a really stellar place, but just really cool. We did this last year, too. So the other thing that's gaining popularity, which is insanity, is the buy now, pay later. 

And I got to share this with you because it's just staggering the number of people, because I was thinking, who uses this? Here's the thing about this. Percentage of people that are 18 to 24, 42% of individuals have said they use buy now, pay later. Now. It goes up to 50%, from 25 to 34. And same thing, 35 to 44. So many of those people have used buy now, pay later, which is crazy, guys, it's putting things off. 

Now. The thing that got my attention about a year and a half ago was there was a pizza delivery company that says buy now, pay later, take six weeks to pay for your pizza. That is Looneyville, guys. That is insanity. To put your finances through that. Now, the thing that floored me is people over 50, 419 percent of the people over 54 said that. They said that they had used buy now, pay later. 

Here's the worst part of this. Have you missed a payment recently on your buy now, pay later. So this is where it gets astronomically messed up. And that is 18 to 24, 26% of those people said that they were late. Now, that's where you get hit with the huge interest at that point. And it goes up the largest percentage, 25 to 34, 31%. And even over 54 people that were over the age of 54, 22%. 

These figures are below for you, so you can take a look at that. But the point of the financial trap is get yourself out of debt. Don't borrow money to do anything that you need. Now, everybody's story that I read and it was like, I saw the necklace. It was something that I just thought I really deserved and wanted. But I have no money. So I bought the necklace. 

I bought the outfit because it was amazing. And yeah, they were on sale, but I still didn't have it, so I put it off and it just prolongs your financial agony. Now, the next thing, remember Mr. Cooper, okay, Mr. Cooper is a mortgage company. And Mr. Cooper went out. Think about this. They got a hack which was 6 million people. Then they said it was 18 million, it was 8 million people. 

Now it's 14. 7 million people. They just went to the state of Maine and said that they were hacked to the tune of 14,960,000 people. I mean, that's crazy, guys. It is absolutely nuts that this many people got hacked using this. And what they got, here's the worst part. This is where they're going to get their brain suit out, is that Mr. Cooper purchases mortgages from other companies and the hacking included mortgages that were paid off from previous customers. 

So let's say you were a Wells Fargo customer. Oh, thank God, honey. We paid off our mortgage or we transferred it to b of a. Those people got hacked to the tune of almost 15 million people, guys. So you better check your credit report. You better contact Mr. Cooper and find out if your data was leaked because they have everything with your mortgage. And this is going to be the worst part about this, is that you haven't seen anything. 

And again, get your VPN for your house. Okay? But such a problem. And one thing that's very popular lately is these light tunnels. And again, it's during the day, guys, it's morning time, but just very cool. Okay, so share your thoughts on this. Mr. Cooper's a joke. Okay. Someone needs to be looking for Mr. Cooper, if you know what I mean. Okay. Have a conversation with him. Okay. 

Not Santa, Mr. Cooper. So share your thoughts on that one. Let's talk about our sponsor, Patriot Gold group. Guys, look at what the economy is doing and look at what's happening with interest rates as they get forced down right now. Tenure bonds are dropping right now. And what's going to happen is you're going to see gold skyrocket in 2024. Don't just take it from me, look at what experts are saying. 

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But this is decorated for a holiday light show that they do that's all blue lights and neon at night. So that's what all these funky things are for. They light up really different at night and glowing. It's just very cool. But you've know the koi fish and you've got the turtles that are very happy over here. Just a very cool spot. Hang out. I love sitting down here. 

I love coming here and just being by yourself. It's just really cool. A couple of things. Prince George Washington they're going to do a giveaway for some free money for people and there's no requirement to work. They want to give millions of dollars out for people that are between the age of 18 and 24 or over 60. They're going to give out $4 million, $800 a month for people to basically do nothing. 

And again, I think this is horrible. It's designed to get people out of poverty. No, people will do it and do nothing. It'll be welfare is what they'll do with that. So share your thoughts on that. I think that you need to motivate people to move forward is what you need to do. Did you guys hear that the president of the central bank had to move back in with their parents? Okay. 

It's not Jerome Powell, it's the president of Turkey. And it's so funny. So the economy is so bad in Turkey that Hafiz Erkin has to move back in with her parents and she runs the central bank. I think I got a kick out of that. So again, guys, banking everything right now is kind of a mess right now. Nobody wants to look at this and admit that there's a problem, but there is. 

Okay, Southwest Airlines last year, remember during the holidays how they were late and every plane flight was late and southwest is okay, okay. I've flown them a bunch of times. They got fined $140,000,000 for being late. Isn't that crazy. $140,000,000 for the late holiday travel of last year. I don't know if you can appeal it, but this will be a strong deterrent. The transportation department said against Southwest. 

You bet it will. Another thing that we're seeing is the car loans that are out there. This is from Bloomberg today signaling that things are upside down and really bad financially, that people are behind more than ever with these car loans. And the thing that you're seeing is that not only can they not afford the payment, but what we're seeing with this is that the interest rates are so high that they're just dumping the cars off. 

And now car salesmen, one thing that they liked was they went out two years ago and no, yeah, we'll sell them. Yeah. 22%. Here's your payment. You can afford that. Great. When I was in carmax helping someone buy a car, I was blown away because the salesman at the time told me that everybody was in there asking for the payment to be reduced. And I want the payment put off as long as possible. 

And I want the lowest possible payment. Okay, here's what my deposit is. It's my stimulus check. Wow. So again, guys, you're seeing this become more and more of a problem, but it's catching up to these people because now we've heard about, you know, we've talked about student loan debt. We talked about credit card debt. Now you're seeing that people can't afford these auto loans and they're coming for the auto loans and the people that are doing the repossessions. 

Sky high, guys, sky high number of repossessions. You want to get into a business that's booming, learn how to repossess vehicles right now. Because that is crazy right now. Crazy busy, that is. Okay, so share your thoughts on this stuff. Let me know what you think about all this, you, couple of stats that I found absolutely fascinating. And that is there is the highest percentage of people right now that are over the age of 40 that have never been married. 

Think about that. Okay. Great article below that breaks this down, breaks it down by economics, it breaks it down by race, it breaks it down by men and women. Little bit of everything. But people, some people just aren't getting married right now. Over 40. Think about it. A lot of people that are in this growing group of people that are over 40 that have never been married. Now, the other stat that's kind of wild that goes along with this is people are waiting longer than ever to get married. 

Now, is that because of the pandemic is that because of that or is it because people are like, oh no, I don't want to share, I don't want to be with anybody. And it used to be 28. 4 was the average age to get married. Now it's over 30 right now, 30. 4. So it's a full two years in the last few years and you're seeing more and more people delay getting married longer than ever. 

So what do you guys think about that? Share your thoughts on this. Let me know. Is there an advantage to doing this? The economy of getting married and the tax write offs that used to have used to be great. Now I get a lot of men, especially that I know that are just telling me that they would never get married again. What's the advantage to getting married again now? I'll tell you, if you have children and you're not married, you're a fool because where the kids live is going to dictate everything about your parental rights. 

And I don't want to get into this too much with you guys. And I'm not a lawyer. You should contact one if you ever get into that. But give you a perfect example, a kid on my son's baseball team came to me, hey, can my wife just get up and move to New York? And I'm like, I don't think so. What are you talking about? So spoke to my law professor friend. 

He needs to go to court. He can't do this. This is ridiculous. And then come to find out he wasn't married to her. So guess what she did two days later moved to New York. So kind of surprising. Always get some advice from a licensed professional. Okay. Share your thoughts on all this stuff. But are you waiting to get married again? Come on, let me know. And this must be one of those Macy, the hits just keep on coming. 

When it comes to EV cars. Think about this one. Ottawa, Canada wants to make it so that every single car purchase there has to be an EV car and they feel they can do this. So people are furious about this because the technology hasn't been proven yet to be solid. 100%. And let me know what you think about this. Should people be forced to buy an EV car? Is grandma going to do well with that? I don't think so. 

The next thing is Nicola Motors. Trevor Milton is the CEO of Nikola Motors and he was convicted of fraud in October and today heard his sentence and he cried like a little schoolgirl that didn't get her way. And Trevor got four years in jail for committing fraud. Now, the best fraud that he did was he took the Nikola truck. That was a tractor trailer. And what he did was he ran it downhill and filmed it at a different angle so it made it look like it was going uphill. 

So everybody was just amazed. And the stock went through the roof. And guess what? It was all a big scam. Got a problem. So that guy's doing four years and just great story below. But he just referenced everything from, I didn't grow up with money, my mom has breast cancer, I'm part indian. I mean, all this stuff is just Looneyville. But again, not like, hey, I'm sorry, I stole from everybody. 

I didn't hear that part of it. So another thing that's crazy is apple, the apple Watch, the latest one, the sales have been halted right now. So apple stock took a hit with this. And the thing that's fascinating about this is that they created and put on the Apple Watch a blood oxygen sensor, which is pretty cool because your different levels, it's like this technology that so many of you have written about that is like a fitbit on my finger that tells me heart rate, tells me how far I walk throughout the day when I run the speed, everything does it through the watch, through the finger. 

The watch had a blood oxygen sensor that a company called Massimo, who's here in Irvine, sued them for and says, hey, you infringed on our copyright and our patent. And so much so that they had to pull the sales for this thing. And so much so that China is not selling the watch also because they're concerned about getting sued. Imagine that story. There should be a rim shot after that one. 

Imagine China is concerned about getting sued. Okay, well, it's kind of funny. Okay. But needless to say, this technology is such that Massimo says it's there. So it'll be interesting to see how this plays out. And if you have an apple Watch, can you use that oxygen sensor right now? Is it working? If anybody's bought a new watch, share with all of us if that works or not, because I'm really fascinated by this. 

See the theme throughout this place? It's good. It's $5 to walk in here. Got all the plants, a lot of places to walk and sit and stuff like that, and read. And I bring my Internet out to places like this, sit here and get work done, and people are walking through and things like that. But pretty much everybody leaves everybody alone. So share your thoughts and all this stuff, though. 

I'm going to finish this video with these last few stories. And the first one is builder sentiment. The home builders building homes. Feel better now for the first time. It's gone up. It's not going down, it's reversing. They say it's basically because interest rates are going down and everything's going to be great and people are going to be buying homes and getting themselves into debt and buying a depreciated asset like never before. 

So get in line for that. Go overpay for those homes. Next thing is, and I thought, this is wrong, Nippon Steel, which is the largest japanese steel company, is going to buy us steel from Pittsburgh for $55 a share, all cash. Okay? Us steel is getting purchased by a japanese company. Is that wrong? Am I just a child to think that way? Seriously, $14 billion in cash. Okay, they're not going to wait around. 

So if you own us steel, your shares, you're going to get $55 a share for that. I don't know. I think it's not right, guys. I'm in that camp. And then Gen X, 38 to 54, it's the largest group of people that don't have a retirement plan and don't have their finances in order right now. The age gap and the retirement disparity, they say it's a great article below talking about how bad things are for people in basically my age group. 

So there's a ton of us that have not prepared adequately for retirement and are going to be doomed, doomed, doomed, doomed. Okay, so again, get yourself out of debt. Don't use, buy now, pay later. That dress is nice, but you don't need it. You don't need those boots or that motorcycle for that matter, to finance and pay later. Buy it six months from now for a song. Guys, I am telling you, it's funny. 

I am here in Corona del Mar. I am across the street from the greatest thrift store in the world because all these rich people dropped their stuff off to the american cancer society store. And it's all great stuff. It's all brand new stuff. Shoes, boots, women's dresses, everything. It's crazy. Okay? Look at things like that. Anyways, getting worked up. Please don't forget to hit the like button. Please don't forget to subscribe to the channel if you want to email me like so many of you did. 

And I appreciate all the stories. And please. Hello@iallegedly. com? Onward and upward, guys. I will see you guys very soon. I hope you guys enjoyed this place. .