American Monetary Association

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

Website:

www.JasonHartman.com/Properties

Direct download: AMA_275_Thomas.mp3
Category:general -- posted at: 8:57pm EDT

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

Website:

www.JasonHartman.com/Properties

Direct download: AMA_274_Kerry.mp3
Category:general -- posted at: 8:54pm EDT

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?

Website:

www.Seasteading.org

www.Twitter.com/Patrissimo

Direct download: AMA_273_Patri_Friedman.mp3
Category:general -- posted at: 12:00pm EDT

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

Website:

www.ProsperousAmerica.org

Direct download: AMA_272_Jeff_Ferry.mp3
Category:general -- posted at: 12:00pm EDT

Jason Hartman talks with Rich Dad Advisor and multifamily property investor Ken McElroy about his recent sale of $300 million worth of property, as well as supply levels of multifamily properties, why Ken is still bullish on real estate and the future of interest rates.

Key Takeaways:

- Why did Ken choose this time to sell his properties and how did he do it?

- Cap Rate fails to take appreciation into account

- Is there an oversupply of multifamily that's causing rents to not grow as quickly?

- What Ken has learned about his facilities for the 55+ community

- Why Ken is still bullish on real estate

- Capital always looks for safety in the US

- The impact things like ride sharing and autonomous cars are having (and will have) on real estate

- Ken's take on the future of interest rates

Website:

www.JasonHartman.com/Properties

www.KenMcElroy.com

Direct download: AMA_271_Ken_McElroy.mp3
Category:general -- posted at: 4:14pm EDT

Jason Hartman speaks with Matthew Sullivan, founder & CEO of Quantm Real Estate, about how his company is using blockchain and tokens to help homeowners pull equity out of their homes (whether owner occupied or investments). Matthew uses a few case studies to explain how much money you could extra, what you would owe his company, and how the secondary market works for the equity stake his company receives.

Key Takeaways:

[1:54] Matthew's company allows you to get equity out of your house without taking out another loan with a bank by buying some of the future value of your house

[4:51] Case study: How much can you pull out if you were to have a $100,000 house with a $50,000 mortgage?

[11:06] Why Quantum Real Estate goes through the hassle of creating a REIT and tokenizing them equity share

[15:49] The effective "interest rate" for homeowners who realize their equity

[19:59] Quantum Real Estate revalues their portfolio every 3 months so the secondary market can trade

Website:

www.JasonHartman.com/Properties

Direct download: AMA_269_Matthew_Sullivan.mp3
Category:general -- posted at: 10:11am EDT

Jason Hartman talks with Dr. Randy Wray, one of the foremost experts in Modern Monetary Theory, about why Minsky the philosopher is important, what exactly MMT is and why it's relevant in today's monetary society. They especially tackle the job guarantee program that MMT espouses and what's coming up for the US in the economy for the next few years.

Key Takeaways:

[1:26] Who is Minsky and why is he someone we should concern ourselves with?

[4:43] What is Modern Monetary Theory and why is it applicable?

[10:31] The governments going back to the colonies spends money into existence and then taxes it back to avoid causing inflation

[13:38] Has all the money that was put into the economy during Obama's term been taken back out by taxes or is it causing inflation?

[17:51] The test you need to use to discover if you're doing monetary policy correct

[21:48] Spending during The New Deal greatly helped move our nation forward and allowed us to become the richest, most developed nation on Earth

[25:49] The job guarantee that Dr Wray is focusing on now would involve a lot of care work, and it would be decentralized

[28:58] What's coming up, economically, for the United States

Website:

www.Levy.org

Direct download: AMA_268_Randy_Wray.mp3
Category:general -- posted at: 11:50pm EDT

After a tour of an Amazon fulfillment center, Jason Hartman has an "investigative report" from the inside of a ride-sharing trip talking with a former employee of Amazon on how we have been misled a little by the company.

Key Takeaways:

[2:23] Amazon pickers are walking at least 10 miles a day to get orders together

[4:08] The pay raise that Amazon gave their warehouse employees was offset by a slash in benefits

Website:

www.JasonHartman.com/Properties

Direct download: AMA_267_Amazon.mp3
Category:general -- posted at: 12:00pm EDT

Jason Hartman talks with Tal Tsfany, President & CEO of the Ayn Rand Institute, about free speech on college campuses, how we should be defining things like happiness and selfishness, and why we should be focusing on the self. They also examine the philosophies of those who want to tax the rich in order to redistribute wealth.

Key Takeaways:

[2:28] What's happening with speech on college campuses is a result of progressive philosophies

[4:16] What would Ayn Rand's political views be in today's world?

[7:56] Ayn Rand's definition of happiness

[11:23] Love is a goal or value that you pursue. It's a spiritual trade

[15:20] Ayn's definition of selfishness

[19:18] Berkley students in the 60s were reading Ayn Rand to be cool, but not following through on the axioms

Website:

www.AynRand.org

Direct download: AMA_266_Tal_Tsfany.mp3
Category:general -- posted at: 12:00pm EDT

Jason Hartman talks with Raghuram Rajan, former Governor of the Reserve Bank of India and former Chief Economist and Director of Research at the International Monetary Fund (IMF), about how community has been weakened, which has allowed competitive markets and governments to get out of balance. They also discuss what jobs will remain after automation takes off even more, mortgage rates and whether we're headed toward inflation or deflation.

Key Takeaways:

[1:24] What the IMF is and how it differs from the World Bank

[6:20] Massive technological change tends to hit an area and hurt before the benefits kick in later

[9:30] After automation comes and takes many of the jobs, there will still be jobs that involve human interaction

[14:51] Is Raghuram seeing inflation, deflation, stagflation or what in the coming years?

[17:34] Are mortgage interest rates artificially low?

[22:17] There's good deflation and bad deflation

Websites:

The Third Pillar: How Markets and the State Leave the Community Behind

Raghuram Rajan at Chicago Booth School of Business

Direct download: AMA_265_Raghuram_Rajan.mp3
Category:general -- posted at: 5:22pm EDT

Jason Hartman talks with David Stockman, former budget director for President Reagan, former US Representative for the 95th Congress, former partner at The Blackstone Group and author of the new book Peak Trump: The Undrainable Swamp and the Fantasy of MAGA. The two discuss Reagan's failure to curtail spending like he'd originally wanted, the difficulty Trump is having actually "draining the swamp", the impact of increasing debt on inflation and whether it's sustainable.

Key Takeaways:

[3:01] Reagan got very little in way of his proposed spending cuts, but got a much bigger tax reduction than proposed, then defense spending exploded

[6:42] Trump's problem was that he recognized the economy was failing but didn't have a program to address it

[11:47] Does our escalating deficit mean inflation is on the horizon?

[16:08] Is our private debt really that bad?

[19:53] How investors should position themselves for the next few years

[22:42] We've learned in the last decade that Central Banks can't cause inflation on a worldwide basis

Website:

Peak Trump: The Undrainable Swamp and the Fantasy of MAGA

www.DavidStockmanContraCorner.com

Direct download: AMA_264_David_Stockman.mp3
Category:general -- posted at: 6:39pm EDT

Jason Hartman talks with Chris Martenson, co-founder of PeakProsperity.com and co-author of Prosper: How to Prepare for the Future and Create a World Worth Inheriting, about how the era of abundant, cheap energy is gone and our world needs to change with it. That doesn't mean abandoning everything we have now, but just recognizing the actual situation and adjusting our investments/behavior accordingly. Chris and Jason also discuss the future, and whether we're going to see inflation, deflation, or a little bit of both.

Key Takeaways:

[2:03] We're coming up to a time when humans are going to have to organize ourselves in very different ways

[4:48] There are 2 ways humans change

[10:01] It's getting costlier and costlier to get less and less oil out of the ground

[12:36] The easy, cheap energy from the past is gone, which explains why the global growth rate for the last 15 years has been subpar

[18:37] We're beginning to see that raising children in a dopamine heavy technological world is creating issues we hadn't expected when it began

[23:30] We have a lot of debt in our society, so deflation is ready to take over

Website:

www.PeakProsperity.com

Direct download: AMA_263_Chris_Martenson.mp3
Category:general -- posted at: 12:00pm EDT

Jason Hartman talks with Jason Franciosa, CEO & co-founder of Element 26, about the time value of money. Both Jason's are concerned about inflation, and the two look at ways you can maintain your leverage so your returns can beat inflation, as well as how you can utilize your home loans to house hack (especially if you're in the military).

Key Takeaways:

[5:15] Jason's 6 ways governments can get out of debt

[7:48] The time value of money

[12:26] You have to have a way to maintain the leverage you have

[17:10] How you can utilize house hacking

Website:

www.JasonHartman.com/Masters

www.Element26.co

Direct download: AMA_262_Jason_Franciosa.mp3
Category:general -- posted at: 9:42am EDT

Jason Hartman talks with Dan Amerman, CFA and author of books such as Mortgage Securities and Collateralized Mortgage Obligations: Unlock The Secrets Of Mortgage Derivatives, about how a heavy handed Fed has changed how inflation and housing have correlate to each other, why the Fed reacts to quickly, what the Fed is setting interest rates up to do, and much more.

Key Takeaways:

[2:45] The Federal Reserve is getting more heavy handed as years go by, and hints of a coming recession could lead to more intervention

[7:39] Housing tracked inflation better than gold until the Federal Reserve got real heavy handed after 2001

[12:28] The Fed reacts too quickly to things

[14:07] Dan's prediction of where interest rates are about to head

[19:51] Certain Fed actions and yield curve inversions seem to have a correlation

[23:25] The 2 ways to look at inflation

[26:47] The self-liquidating debt

Website:

www.JasonHartman.com/Masters

www.DanielAmerman.com

Direct download: AMA_261_Dan_Amerman.mp3
Category:general -- posted at: 9:40am EDT

In this off-topic 10th show, Jason Hartman speaks with Dr. Gina Loudon, co-host of America Talks Live on NewsmaxTV, certified hypnotherapist, founding writer at Breitbart and official Trump campaign surrogate, spokesperson to Donald Trump's 2016 Presidential campaign and member of the President's 2020 Media Advisory Board. The two discuss the political divide that's present in today's society and whether it's worse now than it's been in the past. They also discuss the 3 types of people in the world and how President Trump is one of the most misunderstood people on the planet.

Key Takeaways:

[4:04] We frequently forget to look at the WHY all this division is going on

[7:05] Are we really divided more now or is it all just sensationalized?

[12:17] The USA is actually living in the most healthy, happy, prosperous and safest times in history

[17:00] The monologue media vs the dialogue media

[18:17] The 3 types of people in today's world

[22:17] Gina says President Trump is one of the kindest and loyal people she's ever met

Website:

www.JasonHartman.com/Masters

www.DrGinaLoudon.com

www.DrGinaShow.com

Direct download: AMA_260_Gina_Loudon.mp3
Category:general -- posted at: 4:49pm EDT

Jason Hartman talks with Rohit Talwar, founder of Fast Future Publishing and author of A Very Human Future, about what we can do about the large companies who seem to be in a winner take all society, how life and body hacking are going to change the world, and more.

Key Takeaways:

[3:27] What is value?

[10:30] The 4 views people have of companies like Facebook and Google

[14:06] 3 types of exponential thinking

[18:24] Rohit's example of pooled insurance

[23:08] What are we going to do with the people who are displaced by technology?

[26:13] Body hacking may give us advantages in areas that won't matter in the future due to automation

[27:37] What we need to change in order to have a more optimistic future

Website:

www.JasonHartman.com/Masters

www.FastFuture.com

Direct download: AMA_259_Rohit_Talwar.mp3
Category:general -- posted at: 11:40pm EDT

Jason Hartman talks with Dr. David Collum, Professor at Cornell University, about what all happened in 2018 and what we can expect in 2019. Jason and David discuss the skewed nature of CPI numbers, why institutional investors were able to get in to the housing market and what could cause them to get out, the impact of the Federal government potentially bailing out states and more.

Key Takeaways:

[3:03] What happened in 2018, economically speaking?

[7:35] CPI numbers started getting skewed in the 1970s

[11:00] The MIT Billion Price Project

[14:38] Is there any gain from stock buybacks?

[18:20] Ultra low rates allowed institutional investors to come in to the single family housing market

[22:40] People that criticize religion never ask the right question

[24:55] How the next unwinding will happen

Website:

Dr David Collum at Cornell

www.JasonHartman.com/Masters

Direct download: AMA_258_David_Collum.mp3
Category:general -- posted at: 4:07pm EDT

Jason Hartman talks to his in-house economist Thomas about the World Economic Forum in Davos and what came out of it. Thomas gives his predictions for the next 2-3 years, why some looming deflation might be a good thing, and whether we're in a 4th leg of the Industrial Revolution.

Key Takeaways:

[2:07] Thomas sees some deflation coming up and doesn't think it'll be that bad

[6:09] Price discovery happens once we've put all the unused assets to work

[9:42] As long as GDP growth + Inflation is higher than the 10 year note, the economy is okay

[17:37] Are the next 5 years going to give us good or are they bringing bad?

[18:46] We're in the midst of the 4th industrial revolution and things are good

Website:

www.JasonHartman.com/Masters

www.JasonHartman.com/Properties

Direct download: AMA_257_Thomas.mp3
Category:general -- posted at: 5:00pm EDT

Jason Hartman talks with Harry Dent, author of Zero Hour, about Harry's optimism about our economy, the impact the high end real estate softening is going to have on all of the housing sector, why demographics are NOT looking good for China and other Asian countries, and more.

Key Takeaways:

[00:57] Why is Harry more optimistic about our future than usual?

[3:15] People in San Francisco hate big tech companies like Google because they're driving up costs beyond reason

[5:31] The high end housing market is already softening, but how far down will the slowdown trickle?

[13:28] China's demographics have them looking straight into a disaster

[18:11] The hottest coming sector for the next 10-15 years in the US

[20:58] There are 2 waves of Millennials and the 2nd hasn't entered the workforce yet

Websites:

www.JasonHartman.com/Masters

www.HarryDent.com

Direct download: AMA_256_Harry_Dent.mp3
Category:general -- posted at: 6:54pm EDT

Jason Hartman talks with Nobu Su, chairman of the shipping company Today Makes Tomorrow and author of The Gold Man From the East. Back in the 2008 financial crisis, Nobu's company was a $5 million victim of Western bankers. Nobu is now fighting back, suing the institutions that took his money and trying to tell his story so others don't suffer the same fate.

Key Takeaways:

[1:22] What's the status of Su's lawsuit against JP Morgan?

[9:05] How long can our country keep going like we are?

[11:10] What is Nobu Store?

[14:59] The history of Nobu's career

Websites:

www.Nobu.store

www.Twitter.com/Nobu__Su

Direct download: AMA_255_Nobu_Su.mp3
Category:general -- posted at: 8:37pm EDT

Jason Hartman talks with Parag Khanna, author of The Future is Asian and founder of FutureMap, about what's really going on in regards to the trade war and its impact on Asia (which doesn't just mean China). The two discuss the role of technology in killing jobs around the world and Asia's impact on global consumption growth.

Key Takeaways:

[1:07] What is Connectography?

[5:59] The premise of The Future Is Asian

[9:09] Parag can tell you who's going to win a trade war with China

[11:03] Technology is killing jobs a lot faster than trade is

[15:33] Most of the consumption growth is coming from Asia

[19:24] International competition is getting bigger and bigger, making any missteps even costlier

[25:23] Companies are shifting entire operations overseas to take advantage of those markets, but that's not necessarily a bad thing for America

Website:

www.ParagKhanna.com

Direct download: AMA_254_Parag_Khanna.mp3
Category:general -- posted at: 6:06pm EDT

Jason Hartman talks with Matt Taibbi, contributing editor at Rolling Stone and author of books such as Griftopia and The Divide, about bubbles. The two explore how Fed policy has been leading to bubbles throughout the years, how Wall Street is designed to take advantage of the average citizen and what we can learn from the history of bubbles.

Key Takeaways:

[2:47] There's a pretty decent path from Fed policy to bubbles

[7:17] How the Great Recession came into being

[11:53] Institutions have learned how to create a bubble to profit from, but then also be prepared to make money when their own bubble bursts

[16:00] As long as trades are occuring Wall Street is making money

[17:50] How investment bankers are auctioning off America's infrastructure

[22:30] What is the investor's lesson from the bubble machine?

Website:

www.Taibbi.SubStack.com

www.RollingStone.com

Direct download: AMA_253_Matt_Taibbi.mp3
Category:general -- posted at: 10:15pm EDT

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