American Monetary Association

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