About derek

derek has been a member since October 26th 2010, and has created 215 posts from scratch.

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AMA 276: Biggest Pros and Cons of Free Markets with Dr. David Friedman

Jason Hartman talks with Dr. David D Friedman, son of Milton Friedman, former professor at Santa Clara University in the Law School, and author of books such as The Machinery of Freedom: Guide to a Radical Capitalism and Law’s Order: What Economics Has to Do with Law and Why It Matters. The two dissect what role the government should have in society: what it’s capable of and what it need to steer clear from, while also delving into the 4 problems that need to be addressed in a feud system.

Key Takeaways:

[1:47] How David’s thinking is similar and different than his father’s

[4:00] Can the government actually be out of everything?

[8:21] One of the mistakes that supporters of free markets make is implying that things won’t ever go wrong

[11:51] Market failure is a mark for and against government

[17:43] What David learned about feud law when looking at various legal systems

[21:38] Making the tort claims transferable would make our legal system much better



AMA 275: Interest Rate Comparison 2010 – 2019

Jason Hartman talks with in-house economist Thomas about how interest rates in the past 10 years have compared to one another. The two explain why interest rates can be so difficult to predict and how these past 10 years are compared to the past.

Key Takeaways:

[2:53] Interest rates aren’t completely unpredictable, but they’re driven by things where you can’t know exactly what’s going on

[6:10] Interest rates back in 2010

[15:49] #5 on Thomas’ list is 2017, when interest rates dipped under 4%

[20:24] 2015 makes up the #3 spot on the list with interest rates averaging 3.85%

[24:18] The #1 year for interest rates in the past decade

[28:32] Remember that real estate deals can be renegotiated



AMA 274: Ominous Signs & the Search for the Next Recession

Jason Hartman and Kerry take today to look at some of the signs in our economy today that don’t point toward a rosy future. But don’t take that to mean the sky’s falling and we’re headed for a doomsday scenario, we’ve still got some runway left.

The two also discuss how self-management can show you things that you wouldn’t have known just sticking with a property manager. You don’t HAVE to self-manage, but it’s important to know how to self-manage so you don’t get taken advantage of by your current manager.

Key Takeaways:

[1:27] There are ominous signs out there for the economy, so we’ll see how much longer it can hold them off

[4:36] For the first time in a long time, Kerry is bullish on the New York real estate

[12:01] Where will the next recession come from?

[15:53] There’s an urgency that you need to do something now rather than waiting around

[19:52] Why Kerry thinks Indiana has been the longest running market for Jason’s company

[24:07] Utilize your tenants as your assets

[29:39] If you choose to self-manage, remember to track ALL of your expenses



AMA 273: How to Build a Startup Country with Patri Friedman

Jason Hartman talks with Patri Friedman, Executive Director of The Seasteading Institute, about creating new countries using the seasteading technique. Patri discusses how the concept would work in today’s environment and why it’s not absurd to think of a country being created on the water. It’s coming sooner than you expect.

Key Takeaways:

[1:12] What is seasteading?

[6:05] Why not just buy land from a country rather than doing everything out at sea?

[10:04] Patri’s goal is seeing governments competing for citizens by treating them best

[13:41] How do you deal with security when you’re in the middle of the ocean?

[18:02] What are these seasteads going to do for currency?




AMA 272: Trying to Cure Trade Imbalance w/BBC, Forbes & Bloomberg’s Jeff Ferry

Jason Hartman talks with Jeff Ferry, Chief Economist at the Coalition for a Prosperous America, about what’s going on with the US trade war. Jeff has some ideas on how to close the gap between the US and the rest of the world, but Jason has some questions about whether they would cause inflation. They also look into America’s manufacturing sector and why we need to ramp it back up.

Key Takeaways:

[1:15] Jeff’s thoughts on the current trade situation

[5:31] One of Jeff’s solutions for helping cure the trade imbalance is to reduce the value of the dollar

[9:25] How would devaluing the US economy impact our purchasing goods from other countries and how would it impact the economy at home?

[12:37] You have to have capital formation for a society to create wealth