Are You Prepared for What’s Coming in the Economy? It’s Not Too Late

hey it's dan welcome back you're watching i allegedly and uh i've got a good one for you today i am at the cliffs resort in dana point uh nice property beautiful had a meeting up here today and uh i wanted to talk to you about uh a few things uh before i get into it please take a second hit the like button please hit the subscribe button uh share this with all your friends and colleagues it's a little breezy out here today hopefully the wind's not gonna bother you guys but uh first things first we had an earthquake last night here in southern california uh it wasn't particularly big it wasn't particularly small was a 4.0 earthquake in a city the epicenter where the earthquake originated was in carson california about 30 minutes from me the funny thing about this is that i did not feel the earthquake a lot of my friends family members called immediately they felt it i had a brother that's inland about 70 miles and they felt it tremendously and and when earthquakes happen you know there's different types of earthquakes there's earthquakes that it feels like the ground is moving up and down so you get that that bouncing sensation and then you have other times when the epicenter hits and it's like you know a pond of water where it just ripples through your house or the building they're in uh anyways i didn't feel it last night it was a 4.0 it was decent size the higher the number the bigger the earthquake uh it's not uh something that if you have an earthquake that's a four and then you have a six it doesn't mean it's 20 percent bigger every point is much stronger in fact it can be twice as strong so you know when you see movies they talk about a 9.0 and the 4.0 was something that could have caused damage it really didn't cause any damage because where the epicenter was but the point of this is that people need to be prepared for years for ever my daughter always hit me up to say we need an earthquake kid what if something happens because the problem with an earthquake we don't know when they're going to happen it's not like you get notified from you know the weather report where they're saying that you're going to have an earthquake coming so we have that and with that coming you know you need to be prepared so you get an earthquake kit you prepare you get water food for example the earthquake could have been bad last night to where you know the gas could have been shut off the power could have been shut off we could have lost internet and people need to prepare for that just like people with you know hurricane ida the other storms that are coming you know people need to prepare for this and this is a perfect opportunity if you live in a hurricane you know country or tornado country you need to be prepared for that okay now they don't particularly give you a few days notice on a hurricane lately but the thing about the earthquake is that you get no notice on this so this is what i want to talk about today and that is with our economy you need to be prepared you need to be prepared for anything that could possibly happen because since the health crisis started i want you to think about this we kept talking about oh wait till we get to june june of last year i'm talking about wait till we get to july wait till we get to august this year they talk about normalcy coming back in the summer months normalcy coming back in august september you guys we're pushing october we're pushing the holidays right now and are you prepared for this are you prepared and ready if this continues with you know with the problems that we've seen with the supply problems with the food problems with the shortages that you're starting to see in these stores before the holidays are you prepared and people need to be prepared just like you need to be prepared for the earthquake and again you don't know if and when they're ever going to happen you don't know how bad it's going to be but again last night was nothing and again i didn't feel it so it was something that was not a huge huge uh earthquake to say the least but people need to prepare and uh i just think that so many people are not you need to have food you need to have security you need to have money in the house so that if you can't get to the atms and you know i get people to write me and say oh you're crazy the atms could never get shut down for long periods of time i've seen it and i've seen businesses and after i went to the montage the other day and saw all those businesses restaurants that have been open for 25 years in laguna beach that are finished now and it was absolutely shocking because it's getting worse and this was just from me driving down that street three weeks later so you need to prepare you need to be ready and are you are you prepared are you ready for this because all signs point to things not going back to quote normal anytime soon so again be earthquake ready you know if you live in the hurricane area you guys are ready for that if you live in an area that has cold you guys are ready for that people have generators i hear all these different stories of how people prepare for different disasters sometimes you get notified about the disasters sometimes you don't but what's going on right now is going to continue and people need to be ready for that so let's get into it and let's talk about some other stuff as well this place is nice got a nice pool got different restaurants just a beautiful day here you guys cycle up the stairs you're gonna go see the ocean behind it just a nice place a nice place to stay it's beautiful now the federal reserve is supposed to be there to protect us in a lot of different ways but there's a little bit of a problem the federal reserve since the health crisis started has been buying securities they've been buying bonds and stocks and different t-bills over the last year and a half and it has come to light that there are people that are fed presidents and fed employees that have purchased these stocks and these bonds now insider trading is when you know information about a company that's not made to the public how about the fact that the fed is buying all these stocks and bonds of all these different uh uh you know blue chip companies and they've gone up during this time uh apple 3m adobe toyota volkswagen uh all these different companies that they purchased these stocks on and these fed presidents have made millions of dollars doing this this has been such a problem and it came to light in the last week that jerome powell announced and the rumor is that jerome powell made purchases too so they've announced that they're going to be opening up an investigation having an ethics hearing now guys what do you guys think of that an ethics hearing with these people investigating themselves okay you can't make this up okay so the fed is buying whatever it wants purchasing everything by the way look at how beautiful this is it's just crazy that they're investigating themselves right now guys so share your thoughts on this you know i think it's utterly preposterous i think that it's time for the fed to stop buying everything i think that the stock market needs to just collapse and be on its own and get real because we need to raise interest rates we need to get to a real economy where you hear about you know over 300 000 people filing for unemployment and the stock market goes up that day like it's good news hey you know it was only 10 thousand more than the week before it's absolute lunacy it's crazy that it is uh um continuing at this pace but jerome powell be just don't worry jerome pal's on the case and you won't have to worry about any problems with them because they're going to investigate themselves okay sure we found nothing wrong again share your thoughts on this because i think it's ridiculous one thing we've talked a lot about is restaurants and the problem with restaurants that they're having through all of this right now and it continues uh there is a burrito chain out of macon georgia that all the employees left quit um left a note in the door we've been working seven days a week for a month with no time off we're done we're tired no appreciation from the owner and they just left and the next day there's a sign in the door that the new hours are 11 to 3 so basically the lunch crowd and that's it but that's something that we're seeing here quite a bit we're seeing restaurants that are only open short hours a lot of places right now close at eight o'clock at night eight o'clock at night i mean i don't know about you guys but i'm one of those guys that works in the evening and at like nine o'clock i'm gonna get something to eat and then you can't because you've only got denny's and different places that are open like that in and out hamburger and and stuff like that but uh are you guys seeing this in your areas because it's a real problem now the other thing is the inflation problem that they're having this place sits on a bluff it's got this big grass area they've got a wedding going on that they threw me out of so not quite another wedding today guys i was gonna i was gonna object it's gonna be one of those guys i don't think they should do it anyways uh restaurants are having a major problem with supply and with uh inflation uh supplies have gone up fifty percent that's everything from uh to go cups to uh different plates things like that that they're experiencing gloves this this shocked me when you buy a thousand gloves it used to be that you could get a thousand gloves for 19 these gloves which you have to have i mean you want these workers not having exposed skin on your steak or your hamburger or whatever your french fries uh they've gone from nineteen dollars to ninety dollars where does that money get passed along to you've gotta pay more money for this restaurants have to raise prices right now uh maryland crab cake and again maryland is the main place for crab lump crab they're having such a problem with the prices where it went from 21 a pound to 56 a pound fifty six dollars a pound well guys you can't go to a restaurant and have crab cakes uh the crab cakes are seventy dollars today uk no one's gonna pay that so there are maryland crab restaurants that are not serving crab cakes right now because of how expensive uh crab is uh chicken wings went uh from uh 21 for a box of chicken wings to over a hundred and they're seeing just more and more prices of everything skyrocket on a daily basis and again you know uh my girlfriend and i went to a chinese restaurant that we love they have indoor dining again they've got lunch specials we were shocked when we went there yesterday when they didn't raise the prices things were still 8.95 i'm like how do you do this so lucky us but you're going to see that's going to be the impossible with the prices that these restaurants have to pay are you seeing that are you seeing the shorter hours are you seeing the problems that these restaurants are having right now because we are check this place out guys all these different uh um picnic tables in the shade they've got all these different barbecues out here that people can eat at just to really really a nice spot and again it's really odd you guys this time of the year you know the weather is fantastic right now it's really nice a little breezy up here i apologize if it's windy in the video but you've got nobody out here no you know you've got weddings and you've got stuff at the hotel and you've got people staying at the hotel but it is light guys i mean the holiday traffic and the holiday crowds after labor day here in southern california this is when you want to come out here guys because there's nobody here so share your thoughts on this guys are you seeing the restaurant prices go up because i am i'm seeing it go up everywhere but we're also seeing that people cannot survive and we're also seeing that workers are absolutely fed up absolutely distraught and uh can't take it anymore so share your thoughts on this you guys ever quit a job just walked out okay i have got it felt so good i should tell you that story sometime now apple computer is facing uh serious issues with this employees right now first things first apple computer has a 160 000 employees i didn't know that that shocked me as i started to research this but tim cook has been hearing all these different problems from employees that are saying that apple computers got this toxic work environment and employees have been posting online different you know concerns on different anonymous chat places but there's some validity to this because people are posting things it's just not kooky stuff they're talking about managers yelling uh you know long hours just all this different stuff pay equity uh with women that are getting paid less than men all these different problems that they had so apple this week said we're going to have an all hands-on meeting that work at the company sheriff scarlett and janaki parish uh spearheaded this and they wanted to have you know their issues dealt with but they had an all hands on meeting with apple and uh first time they've ever done this and they only got two questions answered first one was about pay equity oh if we if we hear anything about it uh we try to fix it and close the gap right away and it got shut down after two questions so guys um apple you know it's like any other business where it's got problems it's got you know uh people that are unhappy there so it's not just the burrito location that's got these issues it goes up to apple now this should have been a big week for apple because they just announced all their new products and the new iphone watch is going to be able to tell you how fast you can hit a golf ball is that valuable to you guys does that mean anything to you how fast your swing is when you hit a tennis racket use a tennis racket and hit a ball i mean come on i i don't get the ekg stuff is cool but this other stuff doesn't make any sense to me why that's a big deal share your thoughts do you guys like apple do you hate apple now one thing i always get hit up for is dan all the news is negative and you're just telling us how bad things are well here's a great story okay that is very topical right now and that is about a woman who was a barista working for a coffee house 28 years old and she started a journal company called never stay stagnant and she did it during the beginning of the health crisis and in january this year she decided as she started making nine thousand dollars a month that she was going to stop being a barista and dedicate full-time uh to her journal company the journal company never stays stagnant is basically a female uh product it's got 90 women that buy the product she sells it through facebook ads and instagram she's done half a million dollars in sales this year and she anticipates in 2022 she's gonna do a million bucks selling this stuff so again guys we've talked about this quite a bit what do you know what are you good at what passion do you have outside of the job that you hate okay um people need to understand that you can sell something and as the business world changes as we don't go back to the office as we don't work conventionally like we did in 2019 what can you sell that's different like taylor did now the story and business insider i'll i'll include it below it's great but this woman she you know took an idea and and put it to work and now she's gonna make all this money doing it and again i've seen so many people do things like this you know you can sell things on etsy you can get electronic products and things that can be you know repeated and sold over and over again on sites like that that you don't need to have inventory of anything so you know does this interest you what are you good at what do you know are you a party planner do you know how to socialize do you know how to do social media okay people pay for that all the time what are you good at are you gonna tick talk are you good at youtube people pay for this expertise and taylor's a perfect example of this uh you know this company that she started so you know there's some great news i think she's gonna do a million dollars next year in sales i just love stories like this so share your thoughts and again there's so many ways to make money right now you just put need to put your thinking cap on and you can make some money like she did one thing that fascinates me is there are 25 families that their net worth went up over the course the last year by 312 billion dollars stock prices real estate prices going up guys that's crazy okay these 25 families are worth 1.7 trillion dollars and they've just made more money than all of us will make ever in our lifetimes okay 25 families now i love the international news that people send me and uh one thing out of the uk from the independent is the the times excuse me in uh the uk is that they're having a real problem with inflation in london but they're seeing everything go up and the ministers for their government are trying to figure out what they can do but here's what they can do nothing okay all these people that talked about transitory inflation and how it's no big deal and how it's going to end soon it's absolutely not going to end soon this is the norm right now and you're going to see people on fixed incomes that are going to be destroyed during this time because they cannot afford to pay for normal goods and services but this is happening worldwide to so many people and yes the rich get richer we've talked about this before the extreme halves and the extreme have not but whatever you can do right now to prepare and if there is something that you can buy now cheaply and you can afford it stock up on it right now guys because it may not be there in 60 days this is a real real issue internationally it's not just here in the states and it's not just in the uk i get people that write me from south america they write me from all over the place and it's absolutely fascinating that they're having these these troubles but it just resonates the same thing it's supply issues it's prices going up on everything and it's lack of product so they're seeing that all over the place we're seeing businesses go out of business like we've never seen before but again preparation what can you do right now to prepare for that earthquake okay because the earthquake is coming we don't know when okay and again it's not naysayer doomsayer dan's a nut it is getting ready for this now the advantage to this is there's an earthquake could live in my house for a month or so without uh power without water with all that stuff okay if you live in hurricane areas you should have the same thing but with the instability of this economy you should be ready just like that for everything or anything that could happen because i'm telling you guys i don't see this ending anytime soon all the uh news points to this thing being extended for ever so that's the bay down there that we've been to a few times dana point harbor and again the resort as i walk back up here this is nice okay something different so share your thoughts on this guys you know preparation you know what's the worst thing that happens you have a few bucks in your house you got some extra food and you got some extra water and your family's gonna be safer that's the worst thing that happens and again you know all this talk about holiday shopping early i think it's nuts but you need to prepare for it i'm going to end this video on this one and that is the debt ceiling being raised uh we talk about preparation our own government has not prepared for what could possibly happen so they have these threats that there's going to be a government shutdown if we don't raise the debt ceiling or cancel it temporarily uh and all these threats come out and the first one is that they're not going to make social security payments that's not going to happen guys they're going to make the social security payments and what we're seeing is we're seeing real issues uh with you know the government shutdown the last time this happened it was kind of interesting because i had one of my medical conferences and one of the people that works for the sba that is a friend that i know really well who's been to i think all my events he wasn't allowed to show up in fact he got a letter from uh management at the sba saying that if they showed up or worked or did anything it would be considered a criminal act to act as if they were representing the sba and i said just show up as yourself you have to represent them you know the problems i have with them anyways they couldn't do that so that being said they take this government shutdown thing fairly seriously and uh um they're going to fix it but again we talk about preparation these guys have been on vacation and they come back on september 20th and now they're going to work on this so bravo they're going to start working on uh the government ceiling and uh the debt ceiling and raising that guys it's going to get raised it always does these people want to pay themselves they're not going to shut down paying t bills and all this other uh different investment things it's never going to happen that they're going to do that so please uh don't forget to hit the like button please hit the subscribe button guys get ready because this is the norm the uncertainty the instability this is the norm and if you're ready for it you're ready for anything okay the barista that went out and started a business where she's making nine grand a month okay you can be ready for anything guys don't forget to join the email list you can do that if you want more access to me there's a patreon channel if you want to sign up for weeble they're going to end that deal fairly soon but you can sign up for weeble you can get a free share of stock for signing up kids are playing on the on the playground over there that's what the noise is so um you get a free shirt of stock you put money in you get extra stock onward and upload guys i will see you very soon good luck to each and every one of you reach out i try to answer everything i can good luck to you guys [Music]

Channel: I Allegedly

Views: 50,369

Rating: 4.9484878 out of 5

Keywords: Jerome Powell, Insider trading, The Fed, KKR Grant, SBA lending, EV Tax Credits, Stimulus Checks, Hyperinflation, Retail Sales, broken supply chains, Industries Eliminated, Unemployment, Real Estate, Business, Stimulus update, bitcoin, small business grant, stimulus, iallegedly, Dan iallegedly, worst economy, Business News you can use, Economic Bubble, inflation, Economy, Grants, Real Estate Markets, rent moraorium, Supply Chain, Bitcoin, Cryptocurrency, rental assistance, Cryptos, Fed

Id: DTkR_Xwt1yQ

Length: 26min 9sec (1569 seconds)

Published: Sat Sep 18 2021