Breaking news as the third largest bank In America Wells Fargo announces Additional Mass layoff starting today September 23rd now interestingly enough Those layoffs from Wells Fargo may be a Direct result of John Deere closing Multiple facilities and doing their own Set of mass layoffs as well which may be A result of the farmers in the area and Meat packaging facilities having their Own round of mass layoffs what impact Will these closures have on localized Communities and I'll bring up Google Maps to show you just how massive these Facilities are and then we're also going To ask probably the most important Question of all which is why why why is This happening so you guys are going to Get a great video today full of Overwhelming value and before I begin And get started Mitch vexler sir happy Monday how are you sir but these days Are just dragging one to another to Another sometimes it's hard to tell Where we are but uh I forgot it was yeah I forgot it was Monday Mitch that's That's shame on me man I can't believe I Had to stop for a second like wait a Minute it's today Monday it has been Non-stop work non-stop emails non-stop Uh lawsuits that we're getting people Coming forward various fraud people are Trying you know trying to come together To stop what's happening so a lot of
Great things man I'm going to get Started right now Mitch on what what's Going on with Wells Fargo exactly then I'm going to come back to you to get Your insights Wells Fargo just depending On the data source is the third largest Bank in America take a look here first Of all you see September 23rd their Stock is down about 2% Wells Fargo but Really what I wanted you guys to pay Attention to is this is a massive Employer they have 226,000 employees right now so it's Important to know what's going on with Huge giant companies like this because That's a lot of people now when we go Under the Hood here's what I want to Show you guys and trust me I'm going to Go deeply under the hood and I'm going To show you guys a lot more than what This article is saying Wells Fargo Announces plans to layoff nearly 80 Employees this notice indicates layoffs Will happen in waves beginning on Monday September 23rd which is today L will Happen in waves again beginning September 23rd here's the breakdown of Layoffs and what's interesting Mitch is When I added this together and I did the Math for myself it's actually a lot more Than what they're saying but here's the Start of it right here September 23rd And all the way to till November 18th a Total of 78 people will be laid off in
November and again I'm going to show you That Wells Fargo is actually laying off A lot more people than what this says The Iowa warn log shows the layoffs are The result of adment to previous layoffs In order to include more employees so it Wasn't enough now I was interested to See what Wells Fargo had to say about Why they're doing these layoffs and they Gave us pretty much nothing take a Listen Mitch we regularly review and Adjust step Staffing levels to align With market conditions and the needs of Our businesses and I highlighted market Conditions because it's probably the Layoffs they're probably doing their own Layoffs because multiple businesses are Doing layoffs in the exact area that They do business in we work very hard to Identify opportunities for employees in Other parts of the company so we can Retain as many employees as possible Where it's not possible we provide Assistance such as Severance and career Counseling all the jobs being eliminated Are at Wells Fargo Jordan Creek campus And again this is false they are Actually Nationwide and I'll show you That here in a minute and again it goes On to say Wells Fargo layoffs latest in A long series of reductions the latest Announcement of layoffs bring the total Wells Far Workforce reduction in the Metro area to 285 so far in 2024 but
Also since April of 2022 it's been 949 And again this is the local area when I Pull up Google Maps m just to give you And the viewers an idea of how massive This facility is I mean look at this Sucker this is the Wells Fargo facility I'm not taking you to the other Facilities yet but this is huge huge Facility when I zoom out here I want to Show you and the viewers look at all of The residential neighborhoods around Here there's a huge section residential Neighborhood here residential Neighborhood here uh looks like all over Here as well pretty much surrounded by Residential neighborhoods plus Commercial properties look at this this Is Jordan Cree Town Center certainly That town center is going to suffer and Anyone that has businesses in there from These layoffs you have the Dollar Tree You have Subway you have all kinds of Stuff this is a massive facility this is Kind of the front and let me take you Guys down here and I'm going to show you Guys just how big this property is Because there's probably going to be a Lot more layout so let me just drive Down the street and look it look at to The right you know there's these massive Parking lots right here looks like Apartments over there as well I mean This thing wraps all the way around look At this I mean huge parking lot look at
That they even have a parking garage so Regardless the point I'm trying to make Mitch and we'll go on our second segment To show how this spreads by using math And the data but can you explain to the Viewers how these layoffs and closures Of Facilities impact the Dynamics of Localized community in other words the Job market my friend the job market is Vital to all communities can you explain That sir well single family homes and Multif family obviously Determine where they're going to be Built based on the closest employment Center so that Wells Fargo that you just Showed actually looks very similar to The Wells Fargo facility in Las Vegas And it's the exact same thing so Whatever those employees are and what They're getting paid if you lay off Let's just say 5% of a thousand employee Workforce well that's 50 people but the Problem with that even small as that may Sound that's an awful lot of people that Are dependent that's 50 families that Are dependent then when they go shopping Other facilities mom and pop facilities Are dependent I.E clothing stores etc Etc so the chain is completely connected And when things start to go bad Regardless of where it is it could be Canada it can be anywhere when things Start to go bad it can be a farming
Community the Ramifications go all the way through an Economic cycle and an economic Geographic vicinity And that's why where I come from every Two years like a yo-yo it goes up and Down but that's just one city in Windsor But Detroit is a similar thing in Illinois where they have other plants a Similar thing so if you've got plants And you can even look at it and say Technically that wild Fargo facility Even though it's a bank office building It's a plant when those plants get sick It works its way all the way through up And down the economic Chain yeah I mean and off spread I'm Going to move on now to the segment Where I want to show the viewers that it Is spreading that these layoffs is Actually a chain reaction of other Layoffs and we don't have to guess that Because I actually access all of the Layoff information and I looked at pulk County just to show you that this stuff Does spread and it's nasty everything in Yellow here are Wells Fargo layoffs so Again all of these are layoffs that they Announc the total amount you guys see All in P County right here central Iowa The total amount of layoffs are actually 300 so there's roughly 300 but that's Just in that area when I actually look At Wells Fargo as a company I see that
There's actually a lot more layoffs Going on with Wells Fargo Across the Nation they have 95 layoffs in Hillsboro 74 layoffs in Jacksonville 130 recent Mass layoffs in Las Vegas 254 layoffs in Colombia and 80 layoffs in Denver so What I'm also saying is is Wells Fargo Is not giving us all of the info now I Highlighted in red all of the other Companies and Iowa pulk County that have Done their own set of layoffs look at That so everything in red are separate Companies outside of Wells Fargo that Have filed with the state of Iowa that They too are starting Mass layoffs and When I went down this list Mitch this Was really surprised to me first of all John Deere I'm like oh my gosh John Deere is you know pretty close to this Wills Fargo facility and then when I Look at what employers had the biggest Layoffs it was Smithfield packaging Meets and Missouri Prime Beef Packers so It has to do with farming and it has to Do with Agriculture and things like that So I'm wondering did those layoffs Result in John Deere's layoffs which Resulted in Wells Fargo's layoffs take a Look at this article frustrations grow Over John Deere layoffs moving jobs to Mexico we could do an entire video on That alone but I just want to do a few Paragraphs here earlier this summer John Deere said it was laying off more than
600 employees and get this guys at three Production plants in in Illinois and Iowa as well as unannounced number of Salaried employees at its corporate Level the company also said it plans to Move the manufacturing or skid steer Loaders and compact truck loaders from Its Iowa facility to Mexico by the end Of 20126 and that is horrible you do not Want to hear that and also what this is Saying is they had massive amounts of Profit and in spite of that they're Still doing layoffs this is a response From their company at John Deere there Are challenges in the AG economy but John Deere has been effective in making A profit for its shareholders take a Look at how big these facilities are and I have to zoom out here look at this I Mean this again is very close to the Wells Fargo facilities and layoffs but These are huge facilities man look at This this one over here let me zoom in Here they got multiple facilities here Again surrounded by what single family Homes and this is in a nice area look at That look at all of these houses so not Only do they have all these houses they Also have you know these restaurants Burger Kings you know all of that stuff And that's just one area when I scroll Down to these down here not as densely Concentrated as those last facilities But look at all of these commercial
Properties right here that are probably Leaning heavily on those three Facilities right here but when we go North you can see here's where all the Residences are and it's not just John Deere I'm wondering again did John Deere Have to do the layoffs because of Companies like this Missouri Prime Beef Packers you see here that they have laid Off and shut down their facility they've Laid off 335 employees and an addition to that Right here 319 workers out of jobs at The Altima Smithfield plant which is Again right down the way from Wells Fargo the company announced this Summer That the ham boning facility would close And 34 workers would be laid off and When we look at Smithfield right here Look at the facility again huge facility When I zoom out in other words guys when They close these facilities it's Definitely definitely painful look look At this an entire Community right here Entire community and then above that you Have all of this commercial right here So look at that you got an Amazon Facility you got actually multiple Amazon facilities but look at this I Mean this is not small Mitch this is a Huge Mitch having showed you that having Showed you the data what's happening Underneath the hood do you think it's Possible that Wells Fargo has done their
Own multiple rounds of mass layoffs as a Result of what's going on with John Deere and those other farm and meat Packaging Facilities indirectly yes are they smart Enough to figure it out up front Probably not there's a reason why Warren Buffett has been jettisoning Bank stocks And it does tie into everything that We've been saying in that if Mom and Pop Can't afford the taxes they've got a Problem and because that affects supply And demand right demand drops so it Works its way all the way through the Economic Chain but over and above all that Against the supply and demand and Warren Buffett Dropping businesses will go where Businesses are Welcome and if the Red Carpet has been Opened up for John Deere in Mexico as a shareholder of John Deere They don't have much of a choice but to Accept the red carpet Whether you like it or not I disagree With it obviously I prefer it to stay in The United States and there are things That can be done however this does tie 100% to what I have been saying on the Real estate taxes put every company on An even fair playing field by Eliminating the property taxes because Then they don't have a reason to leave
But for the actual cost of employment But the cost of employment drops s when Mom and Pop don't have to be paying real Estate tax it needs to go to a uniform States sales tax so that the playing Field for everybody that's Mom and Pop At the home level that's the businesses At the corporate level so that the Playing field is economically fair and It puts the balance sheet back into Everybody's position rather than Force Feeding the government the ability to Commit a additional fraud and it's Really really sad to see that these American companies are being pushed out And forced out and giving another Country the jobs that Americans could Have and you know I think that we really Got to focus and talk now about why Mitch like why is this happening is it Entirely because of corporate CEO greed Or maybe it's actually the Federal Reserve be because as you were Articulating the property taxes if Property taxes weren't so If properties all properties by the way Weren't so overvalued then we wouldn't Need as many layoffs as we're having and Mitch you actually put together some Math on just how bad property taxes are When it comes to a few things like Getting a haircut and getting a gallon Of milk take a look what Mitch did is He's showing you guys how many meals a
Restaurant has to sell to pay for the Property taxes or how many pairs and Outfits a clothing store would have to Sell or a nail salon and he's also Showing you guys that as far as getting Milk okay milk from a cow to the store Okay getting a gallon of milk has eight Layers minimum eight layers of property Tax guys again a gallon of milk has Eight layers of property tax the Farmland the buildings to harvest the Buildings to store the buildings to Transport lab testing processing Packaging selling at the grocery stores It all has to do with property tax and Look on the top here okay okay let's Just look at the first restaurant this First restaurant is basically saying That in one year it has to sell 292 Meals to pay for the taxes Mitch is also Showing you what happens when you step Up and you protest the value and you Stop the jurisdictions from taxing you To death this restaurant went from Needing to sell 292 Mills to cover Property tax to only 102 and look at Haircuts just to put this in perspective Guys 73 haircuts to pay for property tax If they protest only takes 26 haircuts To pay for property tax the property Taxes are completely out of control now When we ask why why are property taxes So out of control one big reason is the Overwhelming amount of debt and toxic
Spending that our governments do on the Federal level but also on the state Level what you guys see here is the Federal parabolic debt chart meaning They are not paying off debt they are Just stacking debt on top of debt on top Of debt and they're never even planning Any ways to strategically Pay this off and then therefore these Jurisdiction and municipalities here's Another chart that's parabolic these Jurisdictions and municipalities must Tax us to death or they're bankrupt in Other words the fraud is holding the Entire system together and Mitch also Did this breakdown if we were to compare Credit card debt so if we were to take All of the government debt plus unfunded Liabilities divide that in by the Taxpayers essentially you guys we have a Credit card that has $1.13 million That's a balance and that's not even our Debt that's the Federal Reserve so the Federal Reserve has handed each and Every one of us a $ 1.13 million debt that is 560 times Greater than a consumer credit card of $2,000 so if it wasn't for the Federal Reserve pushing these companies out of State or even out of country and taxing Them to death we wouldn't have as many Layoffs we wouldn't need to pay for as Much debt as we're in and the other Thing consumer are strapped uh
Bankruptcies are going up we're losing Our jobs Mitch can you break down what's Happening and how all of this ties Together the federal debt is parabolic The local debt comprised of Municipalities and school bonds is Parabolic to the point that both those Charts you can be superimposed on top of Each other it's the exact same chart and There is no maass that will allow this To be paid back so that 1,139 ,000 that You saw was simply based on the amount Of houses in the United States so it's The total debt that 163 trillion divided By the amount of houses well every Homeowner owes 1, 139,000 give or take Dollars and I'm quite certain that every Single homeowner out there would say Screw you we're not paying it there is a Theory at some point that's what's going To happen if you have enough people that Stand up in mass and say that's it we're Going to do what the unions do we're Going on strike within hours the entire System would collapse right because There's no way the amount of Interest That's being done on the clock is by the Second this is ticking this is Compounding so there's a huge problem There and even because I did run that Math as well and I said okay fine if we Wanted to reduce the federal debt by two Trillion that would require 51 trillion In gross domestic product that doesn't
Exist we're at 25 trillion give or take You literally in one year immediately Would have to double to 51 trillion just To contemplate the idea of reducing this Problem by two trillion so even if you Said it's two trillion and it's still Compounding okay great that's a 50-year Payoff conditional upon going Immediately to 51 trillion which cannot Be done it's bankrupt so again coming Back to Buffett and you look at all this While he's jetting the banks for the Exact same reason where's the money Going to come from right the banks they Reach their Zenith it's Over the school districts in terms of The debt load that they put on by the Bonds have reached their Zenith it's Over they can't be paid back and anybody That says they are okay they can fine Perfect give me the mass show me because We can't find it you know Mitch it seems Like they just completely stopped caring Like they were you know what they were Like you know what we can't pay this off Anyway so let's just add on to it until It breaks some I mean they just stopped Carrying so do you think though that the Layoffs we would have less layoffs if it Wasn't for that overwhelming debt if we Didn't have that debt would it even be Necessary for quantitative tightening And for all of these rounds of mass Layoffs in other words is this theault
Of the Federal Reserve a good portion of this at the Federal level if you want to sign blame Yeah you can go about 70% to the Federal Reserve but as I've said the Federal Reserve should never have existed from The word go it has been a failed Construct because it only existed for The benefit of the banks not the benefit Of the economy it was there to back Stop what in essence was Bank runs and That's what they've been doing ever Since including lying to everybody so The problem is yeah the Federal Reserve Is to blame but on a local level you Have the exact same nonsense of what I Call economic ignorance these people That sit on these school boards are Economic ignorance the mayor that I made A comment on the other day same thing When she says well real estate taxes are Going up 30% there's no math to justify That that's a violation of usap it's a Violation of their state property tax Code it's a violation of their state Constitution and you're right they don't Give it down well if you're gonna go Bankrupt why not party on the way out The problem is the partying on the way Out is costing even more money yeah so They're going to push this to the point Where it simply breaks and all we're Trying to say is there is a possible Workout solution to all of this best you
Pay attention before the market does What it's going to do Mitch just to put This in perspective when a county you Know like P County loses the tax revenue Off of these facilities that are closing Down don't they then have to pass that Liability on to the homeowners like if They're not receiving say another Million dollars in property taxes Because of those facilities closing Won't they then have to redo their Budget to pass that directly onto Homeowners to continue to fund the Municipalities like the school districts Police departments EMTs and things like That well if somebody can explain to me How you're going to get blood out of a Stone I'd love to know the answer to That I'd love to see the proof and Coincidentally that was part of the same Conversation I had with a very nice guy Over at the BRB which is a Texas bond Entity that researches a portion of the Bonds and he even said well if there's Fewer taxpayers then that amount of Money would be put on the back of the in Taxpayers okay show me the math and the Answer is you can't nobody it's crazy MIT because on you know we're painting The picture where this debt is coming From right the Federal Reserve it's Coming from the states and at the end of The day we always H mom and pop economic Engine we always seem to have to pay for
It if there's layoffs 10 miles from my House I have to pay for that that means The county that I'm in they can't Operate the same way anymore and the Fraud just continues meaning when I say The fraud just continues Meaning these municipalities can't get Less money they not only can't get less Money and they not only can't get the Same amount of money they have to get More money and when I see that in my own You know Harris County ISD is asking for $4.4 billion dollar in bonds for just This next year and that's the biggest in History so it is falling apart you're Not wrong now are we going to start Seeing more layoffs in the future Mitch Yes you'll end up if they don't do what Is necessary to be done as far as our Math is showing you're going to end up In a greater depression with about 35% Unemployment so you can figure that some Of these Banks they're going to drop Their staffs 60 70% that's where it's Headed I mean and like I said businesses Will go where they're welcome where There's an Economic Opportunity they Will go and this is a big problem it's a Circular issue straight into health And it has to be avoided even though Avoiding it is painful it's a hell of a Lot less painful than literally saying Okay that's it the whole system is Bankrupt we're going to have to start
Over this is going to be a big problem If they don't get on board and fix it Real quick yeah I mean can you what does 35% unemployment look like the Great Depression had 25% unemployment there Were still businesses there were still Things happening but the point of the Matter is if you're part of that 25 or 30 5% that's ungodly painful because There's no Revenue coming in and that's What started this nonsense in the first Place during the Great Depression while We're going to create the Federal Reserve the Federal Reserve hasn't Gotten anything right since the day it Opened since the day it was created Nothing they shouldn't exist because They've been monking around with the Natural course of business the real Estate taxes you're now seeing the Ramifications of monking around and Stealing people's money you can't pay This back the there's no math on this Planet that could show somebody how to Pay down 163 trillion and by the way There is documents out there that says It's up to 250 trillion okay it doesn't Matter because it isn't getting paid Back back anyway well it's going to be Paid back in the form of our Bankruptcies and tax delinquencies and US ruining our lives and then finally The fed's going to come in and stimulate
And the stimulation is just going to Lead to a bigger Gap wealth Gap and they Round and around it goes Mitch you know When's it going to when's the Empire Going to collapse the keystones that are Being taken out of the pillars are Everywhere I mean this is going to be a Doom loop I couldn't even imagine 35% 35% is bad but here here's what how I Want to end okay if you're freaked out Don't freak out you still have time to Plan ahead re-budget cancel your Subscriptions don't go out to eat buy a Whole bunch of beans and rice and Spaghetti or whatever you got to do to Re-budget so that you can see what's Coming and that's the hard thing guys is Not seeing it coming right you don't Want to get blindsided specifically by Job loss okay the the debt I know it's Blindsided the overvaluation that Mitch And I are talking about blindsiding but You don't have to be blindsided for Turmoil coming you can do things about That and a huge thing is is saving and Another huge thing is if you are worried About your job start sending your resume Out I'm not a financial adviser but Start sending your resume out and see What's out there available because you Don't want to start sending that resume Out when everyone just got laid off you Want to do that right now when there's Still jobs available so that's where I
Want to end uh happy Monday again you Guys Mitch anything you want to say Before I let you uh before we go brother No I I really think that Travis just hit The nail on the head you do what it is That you can do within your own sphere And if that means taking the real estate Course uh so that you can go and protest That's within your sphere and by the way The rate of return or the return on Investment is astronomical if you can Save yourself two three four $5,000 a Year well over five years that's 20 25 $30,000 that's a pretty good chunk of Money will the system collapse prior to That nobody knows nobody knows the truth But the reality is um we do know that What we're talking about is quantifiable We're pushing the buttons and we're Getting a lot of people from across the United States Supply us with an awful Lot of evidence I'm gonna end this a Little bit differently let me show them Just real quick some of the evidence we Got this from a viewer this is from Anchorage Alaska this is Dave Bronson All right the mayor saying that taxes Have increased assessment have increased By 99.2% for single family homes 9.4% For Condominiums and look at what this Guy's saying guys this is good news for Residents this guy is literally saying He's telling taxpayers hey I'm gonna Charge you uh we're going to go up at
9.2% but don't worry that's good news I Mean Mitch these politicians uh these Cads these stayc comp trollers man we Need work and the people are like oh What do you do what do you do what are We going to replace it with well let's Just first stop the fraud let's just First have them become transparent so we Can kind of see how bad the fraud is Maybe we start there you know we don't Have to be like Mitch and conquer the Whole world we can win our battles on a Localized level by understanding how to Protest property taxes and it's not just Homeowners you guys business owners the Same thing and if those business owners Can save money on taxes odds are Eventually and hopefully that savings Will be passed on to you and your Community just think about what we're Saying guys step up everything is for Free that we're doing everything is in The description are in the links step One sign the petition join the movement Step two take the course and learn how To fight now other than that guys have a Great Monday and if you're out there Investing in real estate or if you're Out there just living your life we wish You luck and we hope you win
