Thu, 21 September 2017
Once again, if you just stick to the truth and be unapologetic eventually that truth will set you free.
For years the FED has been talking about Quantitative Easing as the solution to our economic problems. "Prime the Pump!!!" they'd scream. "Don't worry; we know what we're doing."
They do not.
One of the Feds own economists has now admitted what many of us have known for so long. QE doesn't work. It creates bubbles, distorts asset prices and creates a general mess, but it doesn't help heal an economy.
Wed, 20 September 2017
It would seem the Fed has been prepping the market for a big announcement. It's widely believed the Fed will announce once its intention to start shrinking it's balance sheet today.
Some of that might be confusing so let me clarify...
When the housing bubble burst, the Fed responded by creating trillions of dollars out of thin air. All that money has created bubbles in stocks, bonds, corporate debt, even art and real estate have been affected.
So what happens to the economy when the Fed finally says, "We're done, and we're going to start pulling the money back."
My hunch is we're going to see an economy that wakes up from its heroin-induced coma and falls apart.
Today we're going to discuss a great article from zero hedge that uses some mind-boggling facts about stock prices that will help put all of this into perspective.
I've also got a barn burner of a speech Maxine Waters gave recently. Get ready to be entertained and a little sick to your stomach.
Tue, 19 September 2017
I had intended to talk about Facebook today, but I ran off in so many different directions that I never got around to it.
Today we're going to talk about Trump's recent speech at the UN, Hillary's continuous campaign to blame everyone but herself for the election loss and we're going to chat about a San Diego professor who handed out extra credit to anyone who'd take a white privilege survey.
Really good show today,
Mon, 18 September 2017
Great article out of Zero Hedge today covering the current pension crisis in America. If you've listened to this show for any length of time, you know the public pension system is wrecked. But this article really went into detail about how it all might shape out in the end. Let's just say it's not a rosy picture. Like Mauldin says, "There are no good choices anymore."
I've got a lot of social stuff in the stack today. I want to talk a little about Brown University's decision to start segregated dinners after the recent clash with White Nationalists.
Depending on who you listen to you'll get very different opinions on this. I'd like to give you a practical one.
We'll also discuss the Republicans attempt to revive their Obamacare lite proposal. What can I say, read the fine print. Headlines rarely tell the full tale.
Great show today, thanks for listening and tell a friend! :)
Fri, 15 September 2017
This morning there was an attack in London. If you're at all up to speed on current affairs, you know that already.
North Korea also fired another missile over Japan.
The question I want to discuss today is, "What the heck do we do about it?"
Most people think we need to do "something." I'm not entirely convinced we do. Many wars could have been prevented by just not acting.
On the flip side, a lot of wars ended up being worse because someone was too cautious.
It's a delicate dance, and today we'll talk it through.
Thu, 14 September 2017
For the first time in more than a decade, the House managed to pass a spending bill before the end of a budget year. The way you should read that is, "It took more than a decade, but the House finally did their job."
They've got plenty of money to spend. This year the government has taken in a record amount of money, besting the last record by a clean 8.4 billion. But that hasn't stopped the spending machine from finding new ways to spend all that loot.
Even with record taxes the government still spent 673 billion more than it brought in.
I've said it before, and I'll repeat it now. It will never be enough. There isn't enough money on the planet to satisfy society.
All that today PLUS if you've felt a little overly masculated lately, you might want to check out a new program from Duke to help put you in your place. All that and more on the show today.
Tue, 5 September 2017
The New York Times published a piece today on rising inequality and the difference in opportunity between low-income workers today and the ones of the 1980's.
I read the article defensively at first. It is the New York Times after all. But after the first couple of pages, it was clear the author
If you choose to try and make it in America today using the same tactics your parents and grandparents used you're going to fail.
The entire economic landscape has changed. The middle class of my parent's generation is disappearing. Jobs are being outsourced or have simply been lost to technology.
You can't live in the past and expect to thrive in the future. What worked in 1980 will not work today. The days of getting hired by the factory after you graduate high school and working there for 30 years are over. That model is dead (at least for now), and you've got to accept it if you want to thrive in the 21st century.
Today I'll share some of my thoughts about the new economy and why I think it presents us with the greatest opportunity we've ever seen
Fri, 1 September 2017
According to the Bureau of Labor and Statistics Americans spent more in taxes than they did on food and clothing combined in 2016. The percentage difference was roughly +14%.
If you can believe it, the same data shows that, in just three years, the average American tax bill increased by 41.13%.
Frustrating as it might be I feel the need to reiterate the most important truth about government one can commit to memory...
...Nobody is looking out for you.
Sure they say they have your best interest at heart but is it really in your best interest for the government to take more from you in taxes than what you spend to feed and clothe your family?
Is there no limit to the entitlement some in government have to your fruits of your labor? What should we consider a reasonable amount of theft?
This type of violation will never end until we decide to elect representatives rather than politicians. It will take a conscious effort on our part as individuals to carefully screen those we choose to support for political office. And if they turn out to be liars and cheats who deceived us then we have the responsibility to correct our mistake and seek new representation.
It's been a great week. Enjoy your weekend. I'll talk to you on Monday.
Thu, 31 August 2017
I have to say this is the most abrasive interview I've ever done. Nick, to his credit, asked to come on the show even after I warned him it was going to be a non-permissive environment.
Nick and I discuss the recent controversy with Tom Woods, the implications that Tom and others at the Mises Institute support white nationalism and the future of the Libertarian Party.
I'll let you draw your own conclusions as to who won this argument, but there's no question Nick and I differ on a host of issues.
Hope you enjoy the fireworks.
Wed, 30 August 2017
Trump is going to be in Missouri today talking with a group of blue collar workers about tax cuts.
If any of them are hoping for specifics, they're going to be disappointed since Trump won't be offering up an actual plan. Rather he'll be pontificating and waxing unpoetically about the need for tax reform. (as if that was even in question.)
Frankly, I get tired of hearing politicians drone on about the importance of tax reform and then seeing nothing get done. The truth is, Trump can't talk about specifics because he doesn't have any. His tax plan died with Obamacare reform. The money to make his tax plan worked came from cuts in Obamacare.
I use the term "cuts" loosely since they wouldn't go into effect for ten years and the likelihood of them ever being implemented was close to zero.
No, this speech is just another set of empty promises and pipe dreams designed to rally the base and give the appearance Trump is actually working for the people.
I thought it would be a good idea to run back through it again.
Don't forget to share the show!