American Monetary Association

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

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

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 ec

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)

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

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 y

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

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

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 w

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

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

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

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 put

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

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 similari

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

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

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

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

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 outl