AMA 191 – American, Russian & Chinese Relations with Paul Craig Roberts

Jason talks with the co-founder of Reaganomics, Paul Craig Roberts. Together, they discuss some of the international threats that could face America, thanks to the recent actions from Washington. Specifically, they deal with issues of demography, currency and military developments in Russia and China and consider the potential impact of each of these on the United States.

Key Takeaways:

[1:55] The ruble should be strong in comparison to the dollar, and yet the ruble is risking collapse.

[5:49] The reserve currency status no longer seems as stable when we look at potential drops in use of the dollar.

[13:04] Paul Craig Roberts describes the US’s current position with regards to Russia and China.

[23:03] We’ve got a whole generation of people who now can’t afford to live on their own terms.

[25:56] The discussion moves to inflation and how it could transform the US economy.

[35:03] With so many problems, is there a solution?

Website:

www.PaulCraigRoberts.org

Originally recorded in 2014

AMA

AMA 190 – What’s Different About the Liberal Mind with Dr Lyle Rossiter

Ever wonder why some people are liberals and others are conservative? Is there something different in their brain chemistry or is it just the way they were raised?

Dr. Rossiter is board certified in both general and forensic psychiatry. For more than forty years he has diagnosed and treated mental disorders, with a special interest in personality pathology and its developmental origins. He’s also author of the book The Liberal Mind: The Psychological Causes of Political Madness, and talks about the belief that government can solve our problems and politicians have our best interests at heart.

Key Takeaways:

[2:18] The differences in mindset between liberals and conservatives

[5:38] Big government countries oppress religion because government needs to be the highest power

[9:56] Communist and socialist regimes have killed nearly 200 million people in the past century

[13:36] The people who describe themselves as caring are callous when they get power

[18:40] Politicians don’t seem to have a grasp on obvious economic truths

[21:15] Adolescents need something to commit to and idealize things and people

[25:07] Big government is a great deal for the ruling class

Website:

www.LibertyMind.com

The Liberal Mind: The Psychological Causes of Political Madness

AMA

AMA 189 – The Importance of the Tea Party Movement with Mark Meckler

Mark Meckler co-founded the Tea Party Patriots, and is also an author. On the show, Mark talks about his organization, self-governance, and why people hate the Tea Party movement so much.

Key Takeaways:

2:30 – The Tea Party founded was in 2009.

4:45 – Why is the Tea Party hated so much?

16:45 – What is an amendment convention? Mark explains.

21:50 – Congress passes board enabling acts and the regulators actually do the legislating. Mark and others are working towards stopping this.

25:40 – Elections are not enough, but with that said, we still need to vote.

28:05 – Would Texas become the Hong Kong of the United States?

31:00 – Remember, the larger the government, the smaller the citizen.

Website:

Tea Party Patriots: The Second American Revolution by Mark Meckler

The Liberty Amendments: Restoring the American Republic

www.ConventionOfStates.com

(Originally recorded in Nov 2014)

AMA 188 – Creating a Revolutionary Business Idea with Seth Merrin

In the early 1980s, Seth Merrin was an intern on Wall Street who saw ways the industry could change for the better. His first startup was an order management software that asset managers around the world use. He later created the company Liquidnet Holdings that allows institutional investors to trade large blocks of stock.

Jason Hartman caught up with Seth to talk about his newest book, The Power of Positive Destruction, and how business owners can take ideas from other industries and disrupt theirs.

Key Takeaways:

[0:46] The premise for the Power of Positive Destruction

[2:53] Taking things from one successful industry, and applying them to your different industry, can provide huge boons

[5:35] The positive destruction created by companies like Uber, Lyft, AirBnB, etc

[8:59] The art and science of launching a company

[12:24] How Seth applied the principles from his book on his own companies

[16:05] Whether Wall Street is swinging back toward being an institutional game, and how Seth’s platform plays in that

[21:03] The idea of corporate responsibility, and how the proceeds from the book sales are going to help house the orphans of the genocide in Rwanda

Website:

www.PositiveDestructionBook.com

www.LiquidNet.com

AMA 187 – Rebranding the Democratic Party with Dr. Bob Filner

Jason and guest, Bob Filner, debate the Trump Administration, how the remiss government regulators are towards financial institutions, and the need for a complete reinvention of the Democratic party. As the former House Committee Chairman on Veteran’s Affairs, Bob Filner tackled Jamie Dimon and JPMorgan by threatening to press charges for their unethical treatment of military personnel by foreclosing on their mortgage loans. Mr. Filner was also the Mayor of San Diego and this interview comes on the heels of the release of his new book, Trumping Trump: Making Democrats Progressive Again.

Key Takeaways:

[:58] Bob Filner shares the purpose behind his book, Trumping Trump.

[3:26] Will the Tobin tax discourage trading and betting on non-asset based investments?

[5:20] Bob would like to rebrand the democratic party as the party of the working people.

[7:18] Bob threatened Jamie Dimon and JPMorgan for foreclosing on military personnel’s home while they were serving in active duty.

[13:20] It is pathetic how easily you can buy justice.

[14:12] Does the financial system need less or more regulation?

[24:21] The problem with the Trump administration as Bob Filner sees it.

[29:27] Trump’s policies could have a devastating affect on the US economy.

[31:23] What benefits the American worker more jobs and higher pay or low cost imported goods?

Website:

www.CongressmanBob.com

Trumping Trump: Making Democrats Progressive Again

AMA 186 – Finding Yield in a Deflationary Period with Harry Dent

In 2016 Jason was joined by Harry Dent, from Dent Research, to discuss the tax benefits you can get from moving to a US territory like Puerto Rico, some cyclical markets that are out of control, demographic problems around the world, inflation, and foreign investors in US real estate.

Key Takeaways:

[1:05] Harry’s new home in Puerto Rico, and the tax benefits he can receive

[5:03] Vancouver real estate is out of control

[10:16] Japan’s biggest problem is a demographic problem

[14:06] Previously Harry had predicted a drop in gold which hasn’t happened, does he still believe it’s going to go down or was he wrong?

[18:46] In a deflationary environment the only chance you have to make money is in yield, which can be found in linear markets with cash flowing properties

[24:07] Most foreign real estate investors are legally laundering their money out of their country

Website:

www.HarryDent.com

www.DentResearch.com

AMA 185 – Changing Technologies and What to Do With Doomsday Skepticism with Jeff Macke

Jason Hartman talks to Yahoo Finance’s Jeff Macke about the impact of changing technologies, the perception of Doomsday skepticism and what underemployment means for those seeking jobs and those hiring. Macke also ways in on the inflation/deflation debate and discusses some of the points raised in his book Clash of the Financial Pundits.

Key Takeaways:

[1:39] Discrepancies between what we’re told by the press and economic realities

[5:00] New technology and human resources can combine to end extreme inefficiency.

[8:10] Underemployment is a tricky issue when we have so many graduates with massive student debt who still can’t get a job.

[12:36] How many jobs will this new technology end up replacing?

[16:44] Investing with a belief in a Doomsday end is not a good idea

[18:04] Are we headed toward inflation or deflation?

[22:03] – There are two real ways of making money as a pundit: make other people money or just scare them.

[23:20] The gold-bugs focus so much on the math, but it’s just not all about math. We now have so many other factors that come into play, and we can’t forget about them.

Website:

Clash of the Financial Pundits by Jeff Macke

@JeffMacke

Update: Jeff Macke is no longer with Yahoo! Finance

AMA 184 – Keeping Your Investments Safe During the Everything Bubble with Mish Shedlock

At some time or other, every asset class has been in a bubble. Whether it’s the dot-com bubble of the 90s or the housing bubble in the 2000s, booms and busts are commonplace at this point. When they happen you have to make sure you’re diversified and prepared for the downturn.

But what happens if it’s not just one asset class? What if the bubble is…everything?

Mish Shedlock, economist and investment advisor at SitkaPacific Capital Management, talks with Jason about just this phenomenon, and provides some thoughts on ways you can protect yourself in the middle of this everything bubble.

Key Takeaways:

[2:57] Mish’s Rule of Progress

[10:13] The Shiller P/E Ratio Chart and what it says about the market today

[11:58] The Buffett Indicator

[15:53] The Mish Shedlock investing thoughts for right now

[19:31] How asset inflation is leaving investors behind

[23:57] Some real estate price examples on the East coast that show the dangerous bubble we’re probably in, and how policies are set up to aid the rich in their wealth creation

Website:

www.MishTalk.com

www.MishMoments.com

5 Detours That Led a Wall Streeter to Waffle House, With Jason Hartman

Jason Hartman

Jason Hartman of Platinum Properties Investment Network has had a long, fruitful career in real estate investment. He’s experienced a lot of things in his time as an investor… but nothing quite like the story of James Adams.

James Adams was a major player on Wall Street. Then, the Recession hit. Overnight, his world as he knew it was destroyed, and he was left without a job. Finding a job in his field became impossible – no one was looking to hire Wall Street investors. Even McDonald’s refused him. Waffle House was the only place that seemed willing to bring him on board.

But what led this Wallstreeter to the Waffle House? What sort of mistakes did Wall Street make that led this man to have to take double-shifts as a waiter? Jason Hartman of Platinum Properties Investor Network was privileged enough to hold an interview on his podcast with James and was able to divine what decisions led the market to its demise.

Jason Hartman of Platinum Properties Investment Network Found Out: James Was One of the “Bad Guys”

James admitted during his book that, on the front lines of a hedge fund, he wasn’t working in a field he’d describe as an “honest job”. James admitted to Jason of Platinum Properties Investors Network that he witnessed a lot of unfortunate practices that, while not illegal, contributed to the collapse.

During an interview with CNBC, James explained his background in the financial sector:

“I spent the early part of my career in the corporate bond market, investing premiums on behalf of two publicly-traded life insurance companies. Subsequently, I worked for three years in the product management group of a $30 billion asset management firm. We purchased billions of dollars’ worth of mortgage bonds on behalf of banks, pension funds, insurance companies, sovereign wealth funds, etc. Customer portfolio values collapsed during 2008, our client base dwindled, and I was consequently laid off early the following year.”

Jason Hartman of Platinum Properties Investor Network has never trusted in Wall Street, due in large part to their predatory practices… but that can’t be said for all investors. The financial collapse came as a big surprise to many investors, real estate and otherwise, including James.

Jason Hartman of Platinum Properties Investment Network Found Out: Reckless Underwriting Contributed to the Collapse

James explained, during the podcast interview with Jason, that he started to see what was coming in early 2007.

“In early 2007, I really saw the written on the wall. We had to get on a phone call with some investors in Tokyo. They were getting nervous, but we were comforting them by saying, ‘Don’t worry, it’s just some of the weaker players getting shuffled out of the market.” We based that on the idea that there had never been a double-digit price decline in American home values since the Great Depression, across the United States.”

In short, investors began to believe that there was no chance it could happen simply because it hadn’t happened in their lifetimes. Jason Hartman of Platinum Properties Investor Network knows that humans have unique mental coping mechanisms in place that often push off the ideas of negative outcomes, forcing us to believe that “it could never happen”. But that’s exactly what DID happen, and not long after the phone call, James had with the Tokyo investors.

Jason Hartman of Platinum Properties Investment Network Found Out: Rent to Home Price Ratios Were Unbalanced

In his interview with Jason, James explains that the trouble started with the thinking Wall Street players were espousing: that they could not fail.

“We knew that the rent to home price ratios were skewed. The problem was that there wasn’t enough post-Depression history. As far as they saw things, we never had any truly serious reckonings.”

When James spoke with Jason Hartman of Platinum Properties Investors Network, he outlined this as the number one underlying issue. There had never been a sign that things would stop looking up, despite the price of renting is significantly cheaper than buying a home.

Jason Hartman of Platinum Properties Investment Network Found Out: The Rippling Effects of Leverage Played a Big Part in the Collapse

While the experiences of James Adams led to him publishing a book, and eventually having that book made into a movie, not everyone came out of the recession with such positive experiences. Assessing what caused the crash in the first place is a search that is still ongoing, but James has his theories.

“It the layer upon layer of leverage that creates systemic instability in the housing market,” James divulged during the interview with Jason Hartman of Platinum Properties Investors Network. “People underestimated the domino effects of leverage. Even though you had a greater collapse in the total value of the stock market during the Dot Com Bubble bursting, because real estate was financed with layer upon layer of debt, the unwinding effects were multiples of what happened during the Dot Com Bubble.”

“Just because something hasn’t happened in a long time, doesn’t mean they can’t happen,” said James.

Jason Hartman of Platinum Properties Investor Network not only agrees but has seen the bits and pieces of what James spoke of. Attitudes from Wall Street financiers have only changed because they are steadily being forced to, not because they’re seeking to gain wisdom from the recession. There are still many financiers who haven’t learned the lessons James has… and, to be frank, they should read his book and absorb some of that wisdom.

Jason Hartman of Platinum Properties Investment Network Found Out: The Crisis Was Bigger Than Anyone Anticipated

While some people were expecting there to be some repercussions to Wall Street’s fallout-free approach to playing the leverage game, no one was anticipating the size and scope of the recession.

“There was no place to hide in the American mortgage market,” James said during his interview with Jason Hartman of Platinum Properties Investor Network. “It used to be if you were diversified if a local market collapsed you were ok because you had investments elsewhere. Not this time.”

When trying to outline the mistakes that were made by his fellows on Wall Street, James admitted that “it would take a book”.

Thankfully, James has, indeed, written a book: Waffle Street: The confession and rehabilitation of a financier. Jason Hartman of Platinum Properties Investment Network urges you to grab his book asap, so you can pick up on all that James learned during the recession that nearly destroyed his life.

AMA 183 – Using New Rules to Give Your Investments Better Leverage

New lending rules means new investment strategies for real estate investors. That’s why it’s important to keep up with what Fannie Mae is doing with loans. Jason calls in one of his lenders to find out what’s changed recently and how that will effect what you’re buying, and how you’re buying properties.

Key Takeaways:

[1:45] Your first 10 properties can be purchased with only 20% down

[3:58] Rising interest rates mean you should lock in your rate sooner rather than later

[8:52] 85-90 days in the maximum time to lock in a rate.

[10:23] What loan level price adjustments to rate means

[12:37] The Trump administration may replace the head of the Consumer Financial Protection Bureau.

[17:30] The ease or difficulty of qualifying for a loan.

Website:

www.JasonHartman.com/Properties

AMA 182 – Examining Inflation and Deflation with Jason Hartman’s Asset Matrix

Single-family homes sales rose in January. This has made income property inventory low. Jason shares a live recording from a previous seminar in which he thoroughly explains why investing in a single family home as income property is the only logical investment during an inflationary period. And, if the signs are correct the U.S is entering an inflationary period under the Trump administration.

Key Takeaways:

[0:44] Inflation induced debt destruction by way of a mortgage.

[2:51] Jason explains how the government manipulates inflation numbers through hedonic adjustment.

[10:19] The ultimate investing equation.

[17:38] Anything that does not produce income is not an investment.

[19:29] Cash and bonds are destroyed by inflation.

[21:31] The IRS does not account for inflation.

[24:45] During deflationary periods people default on their loans.

[27:08] If you have a corporate job you are paying more taxes than the self-employed.

Website:

www.JasonHartman.com/Properties

AMA 181 – The Sale of a Lifetime with Harry Dent

Bubbles abound in the world of investing, and today is no different. Jason welcomes Harry Dent, author of The Sale of a Lifetime, about what’s going on today in the stock market, real estate market, political world, and worldwide economic statuses. Harry points out what nation in Europe that reminds him of Japan before their massive downturn, and gives Jason a rundown of what to look for BEFORE you see a bubble burst.

The two look at what you might actually want to be investing in when the bubble bursts.

Key Takeaways:

[4:42] The massive bubble that is Chinese real estate

[12:46] Why Harry studies 80-250 year cycles when the world is rapidly changing today

[15:31] Examining the Trump rally

[24:02] Why Jason hates the Case Shiller Index

[28:14] The phases of a housing crash

Website:

www.HarryDent.com

AMA 180 – Why Knowing Things Still Matters When Facts Are So Easy to Look Up with William Poundstone

For this 10th Episode, Jason goes off topic and welcomes William Poundstone, author of the new book, Head in the Cloud: Why Knowing Things Still Matters When Facts are So Easy to Look Up. Mr. Poundstone is also the author of the New York Times best-selling books, Fortune’s Formula: The Untold Story of Scientific Betting System that Beat the Casinos and Wall Street, Priceless: The Myth of Fair Value and How to Take Advantage of It and Gaming the Vote: Why Elections Aren’t Fair and What We Can Do About it.

Key Takeaways:

[1:12] William explains the premise of his latest book, Head in the Cloud.

[5:03] Having a general knowledge of baseline facts and the Dunning-Kruger effect have humbling assets.

[7:28] The larger a person’s vocabulary is akin to their ability to think.

[11:12] How does America stack up on the map of ignorance?

[13:43] Americans will vote for judges with less ethnic sounding names if they don’t know the candidates.

[19:51] The Kelly Formula informs a user of the optimal amount you should be putting on each bet or investment.

Website:

www.William-Poundstone.com

AMA 179 – Happier Investors in Today’s Market with Frances Donald

Frances Donald, Senior Economist at Manulife Asset Management and Chief Economist at John Hancock Financial Services, explains to Jason the changes in consumer, investor, and executive sentiment numbers in the home and job market. While we don’t know exactly why the economic is experiencing such a resurgence, Frances does attribute at least some of it to the potential policy changes Trump is looking to bring.

Frances and Jason also discuss pent up real estate demand, and how student loan debt is impacting that.

Key Takeaways:

[0:57] Investor sentiment gives a positive outlook for the US economy

[3:39] Is Trump the cause of the economic forecast?

[4:56] Rising interest rates present a challenge for the housing market

[7:57] Trump is inspiring confidence in companies all across the country

[9:38] Real estate investment is a small part of the total economy

[14:30] There are two true drivers of rental housing

[16:47] The housing and rental markets are not currently in their natural order

[20:26] The importance of demographics in relation to wage growth

Websites:

www.JohnHancock.com

@FrancesDonald

There are fewer multipliers to growth from a rental market than there are from a housing market.

AMA 178 – The Breaking Point: Profit from the Coming Money Cataclysm with James Davidson

Jason Hartman talks with James Dale Davidson, co-founder of Agora Publishing, Founder of the National Taxpayer’s Union, co-editor of Strategic Investment for the Sovereign Society, and founder of Newsmax. James has just written his newest book, The Breaking Point: Profit from the Coming Money Cataclysm. James believes that, in his lifetime, we are likely to see a massive marketplace disaster compliments of Obamacare, Chinese ghost towns, printing money, and other bad economic decisions.

Key Takeaways:

[1:20] The Western Civilization has a new business model and social contract

[5:57] Some of Trump’s support came because middle class white voters are experiencing a decline in their life expectancy

[9:13] What does the US economy look like under a Trump presidency?

[10:27] James’ latest book, The Breaking Point, examines the relationship between drug companies and the food industry.

[14:19] Some business savvy for our politicians would help them out a lot

[18:00] Bernie Sanders and Karl Marx share some similarities

[20:02] Fake capital lets people borrow money practically for free

[27:26] We can’t keep passing the buck down generation after generation

[31:22] Chinese ghost towns used more cement in a dozen years than our entire country did in the 20th century

[37:27] Chile has provided most of the copper used by the Chinese

[40:48] We are staring into the face of the biggest economic crisis in history

Website:

The Breaking Point: Profit from the Coming Money Cataclysm

www.SovereignSociety.com

AMA 177 – How Changing Technologies Will Impact Our Living (and Working) Markets with Matt Slepin

The housing market is always on a pendulum, but where are we now? Self driving cars are going to be changing the dynamics of our society, but are they going to push more people into the city or have more people moving to the suburbs? Jason Hartman and Matt Slepin, President of Terra Search Partners, discuss what is going on in real estate today, and how our changing environment is impacting real estate in the future.

Key Takeaways:

[2:36] Where Matt thinks we are in the business cycle, and whether we’ve overbuilt apartments

[6:49] The issues going on in the retail and office investment markets, and why apartment investing makes more sense these days

[11:13] The rise of the autonomous vehicles and how they will change the real estate demand equation

[15:29] What does Urban Land Institute do and what issues are being discussed?

[19:22] What Matt has learned in his real estate podcast

[22:51] Two conflicting trends in property management

Website:

www.TerraSearchPartners.com

AMA 176 – Too Big to Save: How to Fix the U.S. Financial System, with MIT’s Sloan School of Management’s Bob Pozen

The Trump administration will bring changes to the real estate market. Legislation and regulation changes could help small and medium size banks while also increasing the amount of lending done by the biggest banks. Jason Hartman talks with Bob Pozen, Senior Lecturer at MIT’s Sloan School of Management and former Associate General Counsel for the SEC, about these things, and what is realistic to expect under President Trump. Bob is author of Extreme Productivity and Too Big to Save.

Key Takeaways:

[2:11] Legislation that may be changed through banking system while Dodd-Frank is left as is.

[5:50] Small and medium sized banks need regulation relief

[7:33] Fannie Mae and Freddie Mac are having problems because they were never made public or private

[11:13] FHA and VA insure all mortgages made by banks

[11:55] Real estate prices will rise as money flows into the market

[14:46] Rising rates will bring a temporary increase in home purchases, but will level off soon thereafter

[15:28] Pozen was chosen by President Bush to join a bipartisan commission to strengthen Social Security.

[17:00] Security and Exchange Commission has constraints regarding employees working for corporations after their service.

[19:22] Getting to the gist of Bob Pozen’s book Too Big to Fix.

[21:59] Peer-to-Peer lending is pretty much unregulated.

[23:38] As the economy strengthens banks should lend more.

Websites:

www.BobPozen.com

AMA – 175 – Speculator and the International Man with Doug Casey

Doug Casey is a (successful) speculator, a libertarian philosopher, and a best-selling author. He has a reputation for his sometimes controversial insights into politics, economics, and investments. His speculation is often called “rational speculation”, and he’s one of the authorities on the matter, and is highly regarded in the high-potential natural resource sector.

Doug’s new book, Speculator, is a venture into fiction, a departure for him. Jason Hartman and Doug discuss the new book, how to be an international man today, and real estate all over the world.

Key Takeaways:

[1:45] A quick rundown of Doug’s new book Speculator

[4:40] Speculator is the first in a series, and has some main topics that Doug explores.

[8:35] Doug’s book International Man made him semi-famous and is the most sold book in Rhodesian history

[12:30] The world’s move toward the singularity

[15:50] The scam that is college education and tuition

[20:20] Diversifying yourself internationally

[24:20] Is the world flat now?

[29:00] We’re at the beginning of the next crash while riding the tail of the previous crash

Website:

www.CaseyResearch.com

Speculator: High Ground

AMA 174 – Goodnight Obama with Dr Jerome Corsi

It might look like a children’s book, but Goodnight Obama is more than just that. It’s an important reminder that parody is critical in this day and age.

Dr Jerome Corsi is author of Goodnight Obama, and is also head of the Washington, DC News Bureau for Alex Jones and Infowars.com. The two discuss his newest book, as well as what Jerome is expecting out of President Trump, and where we are in the business cycle.

Key Takeaways:

[1:10] The idea behind Jerome’s Goodnight Obama book

[6:41] Whether people who didn’t vote for Trump are going to be pleasantly surprised when they realize what he’s doing in office

[17:30] What Trump means when he talks about “infrastructure spending” isn’t what most liberals think

[21:46] According to the idea of business cycles we’re due for a recession. Is it going to hit Trump, will he avoid it, or is the idea of a business cycle outdated?

[24:23] The USA return to a carbon based economy

Websites:

www.WND.com

@Jerome_Corsi

www.GoodnightObama.com

AMA 173 – Shall We Wake the President? with Tevi Troy

Tevi Troy, President of American Health Policy Institute and former Deputy Secretary of the US Department of Health and Human Services, joins Jason Hartman to discuss his newest book Shall We Wake the President?: Two Centuries of Disaster Management from the Oval Office.

The two take a look into the history of American presidents handling of disasters, as well as trying to look at our current president, Donald Trump, to see if there are any signs as to how he might handle a disaster. Jason also probes the former Deputy Secretary about how the Republicans might actually be able to craft a replacement for Obamacare that the Democrats might actually support, and that would actually improve our system.

Key Takeaways:

[1:07] The best and worst presidents at handling disasters

[4:43] How Tevi thinks Donald Trump will handle disasters

[7:20] The newness of Trump’s cabinet to politics could create a problem if there’s an early disaster during his presidency

[10:29] How pop culture impacts presidents

[13:05] Tevi outlines a path that he believes Republicans should take to get a new healthcare bill passed

[16:10] How Trump’s participation in pop culture might play a role in his presidency

Website:

www.TeviTroy.org

@TeviTroy

Shall We Wake The President?