AMA 200 – How to Deal With People Who Treat You Like Dirt with Robert Sutton

Jason Hartman talks with Bob Sutton, author of The A**hole Survival Guide: How to Deal with People Who Treat You Like Dirt, about how to deal with people who are a consistent bear and you can’t avoid completely.

Sutton studies organizational change, leadership, innovation, and workplace dynamics. He has published over 150 articles and chapters in peer-reviewed journals, management outlets such as Harvard Business Review and the McKinsey Quarterly, and news outlets including The New York Times, Financial Times, and Wall Street Journal. His books include Weird Ideas That Work, The Knowing-Doing Gap (with Jeffrey Pfeffer), and Hard Facts, Dangerous Half-Truths, and Total Nonsense (with Jeffrey Pfeffer).

Key Takeaways:

[1:33] The reaction Robert got from his first book on “jerks”

[5:20] Some people seem to enjoy being mean down to their core, what does Robert make of the idea that women are attracted to bad boys like that?

[8:51] The “rhythym method” of dealing with jerks

[12:20] How you can pick the right time to fight back against jerks

[16:27] We’re all slow to notice our own weaknesses

Website:

www.BobSutton.net

www.Twitter.com/Work_Matters

AMA

AMA 199 – How to Dissolve the Federal Government with a 1 Day Presidency with Libertarian Adam Kokesh

Adam Kokesh is an American libertarian who plans to run on the ticket for the 2020 election. His platform calls for a “new American revolution” and has announced plans to run with an eye on the “orderly dissolution of the federal government.” His 2014 book FREEDOM! outlines his beliefs and philosophy.

Jason Hartman and Adam discuss his libertarian beliefs, and what exactly a dissolution of the federal government would look like, and if it’s even feasible.

Key Takeaways:

[0:53] Who really needs government

[4:10] The great lie behind government

[7:52] How to go about cutting the size of government while maintaining order

[12:10] How you can minimize violence and theft by eliminating government and police

[16:46] Adam’s proposed dissolution of the federal government

[17:40] The only executive order Adam would sign as President

Website:

www.TheFreedomLine.com

www.KokeshForNotPresident.com

AMA

AMA 198 – The Fed and the Government Won’t Let the Market Correct with David Collum

If you want an early peak into a respected year end review, then you need to listen to what Professor David Collum has to tell Jason Hartman. The two discuss the dangerous situation that’s being created by entities like the Fed and our own government that will lead to disasterous implications. The problem is, nobody knows when the can will be allowed to stop. We’ve been able to stave it off for years now, but the bill will come due at some point.

The two also look into the idea of “free speech” on college campuses and how to solve the intolerance shown by the left in that regard, as well as why Warren Buffett continues to lie about the equity market.

Key Takeaways:

[2:36] The merits of price gouging, and why price gouging laws are destructive

[5:40] The issue of free speech on college campuses, and whether it actually exists today

[10:11] If you want to solve the issue with students shouting down speakers, the administrators need to grow a backbone and punish the violators

[13:29] The metrics that show if equities are overpriced are fraudulent

[15:40] David is looking at a 50-70% reduction in the equities market

[18:50] What would happen to the economy if the Fed actually raised rates to something like 4%, and why it’s a completely different world than when Voelker gave the economy its “hard medicine”

[22:40] Warren Buffett is a massive insider who likes to lie about the state of the market

Website:

www.Twitter.com/DavidBCollum

David Collum’s Cornell Faculty Page

David’s Previous Year End Reviews

AMA 197 – The US Economy vs Rising Interest Rates

Investment Counselor and Local Market Specialist Liaison, Carrie joins Jason Hartman to see if he can correctly predict the effect the rise in interest rates will have on the US economy. Jason reminds us the Feds don’t directly impact mortgage rates but by directly impacting short-term rates all rates will be affected. For those of you who have income properties, the higher interest rates will put upward pressure on rents.

Key Takeaways:

[3:41] What does the spike in interest rates mean for investors?

[9:55] Higher interest rates will put upward pressure on rents and lessen the concentration of wealth.

[14:05] Local Market Specialists and Investment Counselors are always working in the client’s best interest.

[23:29] It’s important to get pre-approved for financing in today’s seller’s market.

[24:58] Jason hints about the location for the next Venture Alliance Mastermind.

Website:

www.JasonHartman.com/Properties

Grant’s Interest Rate Observer

www.VentureAllianceMastermind.com

***The Property Tour Referenced in This Episode Has Passed***

“The Fed has weapons it can use to fix the economy and interest rates are one of those weapons.”

AMA 196 – The Need for a Diversification Strategy for Your Real Estate Investments with Cash Flow Guys Tyler Sheff

Tyler Sheff, host of the Cash Flow Guys podcast, invited Jason Hartman on his show to discuss the different market types in the USA, and got some tips on remote managing as well. Jason explains that the stigma behind buying homes sight unseen, as well as self managing properties a thousand miles away, has abated some due to the wonders of technology.

Key Takeaways:

[1:56] What Jason learned when he owned properties in 11 states

[6:52] Whether Tampa is a linear, hybrid, or cyclical market

[11:18] Our brains relation to the number 3 and how it relates to Jason’s diversification strategy

[15:57] Jason’s experience of beginning to self manage his remote properties

[18:30] When tenants are connected directly rather than through a property manager they tend to take care of more things themselves

[23:32] The need for standardized data when evaluating properties

Website:

Meet the Masters 2018

www.RealEstateTools.com

www.CashFlowGuys.com

AMA 195 – America’s Flawed Thoughts on Monetary Policy with Mike Norman

Jason Hartman welcomes Economist Mike Norman to the show to discuss Modern Monetary Theory or MMT. Mike shares examples of common misconceptions people have of the US monetary system and economy, such as the US debt clock, that inflation equals growth, and how the tax system works. He believes that the US has an unlimited supply of capital and balancing the budget or functioning as a fixed monetary system would accomplish the opposite of what is needed to create growth.

Key Takeaways:

[0:55] Modern Monetary Theory (MMT) explains the value of money.

[3:54] A tax system is required to create demand for money.

[8:46] A fixed monetary system creates cycles of economic depressions and recessions.

[11:08] The US national debt is a summation of what is owned by the US and its constituents.

[18:39] A dollar must be created and pumped into the economy before it can be used to pay a tax debt.

[21:01] The US has an unlimited amount of new capital.

[26:28] There is a difference between inflation and growth.

Website:

Mike Norman on YouTube

AMA 194 – Common Mistakes of the Average Investor with Patrick Donohoe

Jason welcomes Patrick Donohoe of The Wealth Standard Podcast to discuss the dirty details of pensions, insurance policies and Ponzi schemes. Jason describes the difficulties and common mistakes average retail investors make when investing in financial services. And, Pat gives a comprehensive overview of how to make the most of your existing policies in order to invest your money in the most historically-proven asset class, income property.

Key Takeaways:

[1:15] Is the US a giant Ponzi scheme?

[4:21] Understanding the difference between pension benefit plans and contribution plans is essential.

[14:05] The financial service industry preys on retail investors.

[19:39] Harry Markopolos is waiting to capitalize on a market correction.

[25:59] Analyzing the patterns and mistakes of the middle-class investor.

[34:17] The Wealth Standard Podcast focuses on helping individuals understand the comprehensive nature of the economy.

[36:39] Pat explains how policyholders can reduce their risk and get investment money for cash-flow properties.

Website:

Be Your Bank

The Wealth Standard Podcast

The Wizard of Lies

Venture Alliance Mastermind

AMA 193 – The Paper Money Economy is Causing the New Depression with Richard Duncan, Part 2

Jason Hartman and Richard Duncan continue discussing what Richard thinks will happen if the government stops supporting the global bubble, how the government can get back in the black on the spreadsheets, and why today is unique in terms of economic history.

Richard Duncan is Chief Economist at Black Horse Asset Management, the author of The New Depression: The Breakdown of the Paper Money Economy and The Dollar Crisis: Causes, Consequences, Cures. His Macro Watch video series can help individuals to clearly understand how the financial system really works. Mr. Duncan previously held the position of economist for the World Bank and the International Monetary Fund.

Key Takeaways:

[1:00] The rules completely changed when we ditched the gold standard and went to a paper money economy

[10:35] The winners in our new, global economy

[13:16] How governmental policy is driving the global bubble

[16:15] Never in human history have we seen what happens when the economy becomes global and money is printed in this abundance

[21:33] How we can pull our nation out of debt

Website:

http://BlackHorse.com.sg

The New Depression: The Breakdown of the Paper Money Economy

The Dollar Crisis: Causes, Consequences, Cures

AMA 192 – The Paper Money Economy is Causing the New Depression with Richard Duncan, Part 1

Jason Hartman welcomes Richard Duncan for the first of a two-part conversation about what is driving the economy, and which mistakes could catapult the US into a recession.

Richard Duncan is Chief Economist at Black Horse Asset Management, the author of The New Depression: The Breakdown of the Paper Money Economy and The Dollar Crisis: Causes, Consequences, Cures. His Macro Watch video series can help individuals to clearly understand how the financial system really works. Mr. Duncan previously held the position of economist for the World Bank and the International Monetary Fund.

Key Takeaways:

[1:01] Richard Duncan has a unique, insider’s view of world economics and FIAT money.

[6:06] In the US, when credit grows less than 2% the US goes into recession.

[11:17] Creditism is the new Capitalism.

[13:37] Looking back at the policies which saved the world economy in 2008.

[19:35] It’s a very sensitive moment in the economy as the Fed is considering reversing quantitative easing.

[23:27] Globalization has changed the way the economic game is played.

Website:

http://blackhorse.com.sg

The New Depression: The Breakdown of the Paper Money Economy

The Dollar Crisis: Causes, Consequences, Cures

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 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 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