In this solo episode, Jason reviews articles which depict the current economic state of affairs from coast to coast. In San Francisco, one company is paying employees to move, developers are driving up the cost of homeownership in New York City and the most average city in the US is exactly where you would expect it to be. Jason also reminds us why we shouldn’t be alarmed by rising interest rates because, as he points out, you have to look at the big picture. Money is and will be flowing into the real estate market during the Trump Administration. Don’t let your money be lazy! Contact an investment counselor today. If you are a new investor or thinking about investing in income property, visit Jasonhartman.com and watch the video, How to Analyze a Real Estate Deal. It’s free educational material.
Precious Metals expert David Morgan notes that the Federal Reserve Bank raised interest rates by 0.25%. This, despite an economy, that some data is suggesting, is slowing rapidly. David Morgan joined Max Keiser and Stacy Herbert of Double Down to answer these questions and more…..
What will the Fed do about its $4.5 trillion balance sheet?
How high will interest rates go if they do sell these assets?
These Wheelbarrow Buddhas take pride in providing value to their tenants at an affordable rate, which they term as modern affordability. They buy properties from Mom & Pop operations and reposition them, providing value to the tenants.
We discuss the process of DUE DILIGENCE and why it’s the most important factor that will save you time, money, and headaches in the long run!
To kick things off, Jason shares a Wallethub article which lists cities with the highest and lowest credit scores. Memphis credit scores are some of the lowest in the US which is why it is a good place to invest in income properties. And, Jason’s guest today is the first banker in history to expose the monumental story of Swiss bank secrecy. When Bradley Birkenfeld became aware of the shady practices of Swiss accounts he went directly to the Department of Justice. What happened after led him to expose the secret connection between the US and Swiss Governments and how taxpayers in both countries foot the bill for the illegal activities of bankers.
Rick Ackerman notes that the Market has been doing nothing but going up for the past 9 years. Will it keep going up? Rick says let’s wait and see. Gold has been in the doldrums for the past 5 years, time to go up, let’s wait and see. Oil too has been in the doldrums, let’s wait and see. Same for the dollar and treasuries, we’re in a period right now where things can go either way. Interesting times!
When Jordan Goodman last came on the show he was very optimistic over the Trump Bump; Things were looking up. The economy seemed to be coming out of its shell. What a difference a month makes. Now Jordan’s concerned that the Trump agenda is flagging and that perhaps the tax cuts, infrastructure bill and health care reform won’t go through. But as Yogi Berra used to say, “It ain’t over till it’s over,” and the fat lady has yet to sing. The market has been doing nothing but going up for the past 9 years so perhaps it’s taking a minor breather. Let’s see what happens next.
Bix Weir believes that President Trump is preparing for the collapse. He’s simply waiting for his people to be installed. That leaves him right now trying to stave it off until that happens. Steve Mnuchin is the main blocker. After all, Bix says he was the head of market rigging during his tenure at Goldman Sachs. Bix sees Bitcoin gaining more and more acceptance and eventually becoming the global reserve currency. China is preparing for it right now. It’s all about the blockchain, which insures integrity and prevents fraud. But silver is going to be very valuable under any circumstances as will gold.
With Israel headlining the news cycle and Trump vowing to back Israeli 100%, David Brog’s new book, Reclaiming Israel’s History: Roots, Rights, and the Struggle for Peace, is crucial now more than ever as no history is so disputed as the history of Israel. Some see Israel’s creation as a dramatic act of justice for the Jewish people. Others insist that it was a crime against Palestine’s Arabs. Author and founder of Christians United for IsraelDavid Brog untangles the facts from the myths to reveal the truth about the Arab-Israeli conflict.
Our old friend Joe Messina returns… Let’s face it, California is on the skids. Pension debt is out of control. Infrastructure is crumbling. The governor inhabits an alternative reality and the legislature seems to have been consuming too much marijuana before it became legal. Now we can only imagine how much their consumption will increase. Companies are fleeing and taking jobs with them. 9000 companies have left the state in the last 5 years. A record to be proud of.
Gold and silver have been showing surprising strength, but it’s not surprising to Ned Schmidt. He’s been expecting it all along. He’s very pessimistic on dollar. Ned sees a major bull market forming in agricultural commodities. Corn and soybeans are the next commodities that will see a run up. China is coming back big, buying up agricultural products, especially corn. It’s been two years since that happened. Unfortunately, Ned says that the ag stocks are overvalued so you have to play the commodities to profit.
John Rubino notes that once upon a time, you went to college, got a degree and found success in life. Now it’s different. Tuition is through the roof and so is debt. Massive student loans, second mortgages and for what? Parent retirement goes out the window. Illinois’s finances have led to greater unaffordability of its state schools. This has led to staff layoffs and no more tenure. Cheaper teachers and lower quality education. What’s a central planner to do? Is it any wonder why the globe is embracing nationalist candidates and drastic solutions?
Wayne Allyn Root says that everyone hates Donald Trump, and they always have, and they always will. Nonetheless, he won and he keeps winning. All his friends left him, but he still keeps going. It doesn’t matter what the critics say, they need to be ignored. Just carry on with your agenda and let the chips fall where they may.
“#NoSnowflakes,” warns an employee recruitment campaign, but the West Salem-based construction company meant no political offense by the message it put on a Third Street billboard, according to its business recruitment manager.
The term was first used in pop culture to disparage spoiled, lazy millennials at the turn of the century and in more recent years has been applied generally to political liberals.
“We don’t care what politics a person has as long as they show up and work hard all day long,” Greg Brickl said when asked about a politically loaded term that has raised some eyebrows.
Brickl said Brickl Bros. values all of its employees, along with the racial, religious, political and other diverse backgrounds and experiences they bring to the job.
Economist John Williams says President Trump has to do something fast and big to turn the faltering U.S. economy around. Williams explains, “You are seeing the economy slow down. Some people are recognizing that. The Fed’s statement a week or two ago . . . many analysts consider that dovish. The Fed knows what’s going on here. They are trying to get rates up a little, but they have a circumstance that they are not out of the woods with the banks. What they are hoping for is maybe the Trump Administration is going to bail them out and stimulate the economy.”
Williams says “The banks are still not healthy. . . . The Fed is still fighting the battle it effectively lost in 2008. Mr. Trump has several problems. One is the economy. One is the long term budget deficit, and the third is the Federal Reserve. The Fed lost control of the system. The system effectively collapsed. They haven’t been able to bring it back to normal.”
It’s all over except the shouting, and I’m not talking just about Ryan’s “repeal and replace” washout.
I mean the whole fantasy of the Trump Reflation trade and Wall Street’s delusional view that the massive financial bubble now enveloping the casino can be kept afloat indefinitely because Washington will always come through with whatever “stimulus” it takes.
The idea that there is an actual working GOP majority and that some pro-growth policy juggernaut is coming down the pike has always been a case of the wish being father to the thought.
After all, the present day Republican party is such a fragmented gang of factions that it couldn’t even nominate a presidential candidate. What remains of the party got mugged by a rank amateur and insurrectionist.
Last week we wrote that precious metals should see upside follow through but to be wary of the 200-day moving averages and February highs before becoming excited. The metals did follow through as Gold gained 1.5% and Silver gained 1.9% (for the week) but the miners disappointed. GDX gained only 1.1% while GDXJ finished in the red as did junior silver companies (SILJ). As spring beckons, the gold stocks are showing relative and internal weakness.
Two signs of weakness in the miners are visible in the weekly candle charts below. First, while Gold has already rallied back to its high the first week of February, GDX and GDXJ are down 11% and 15% respectively.
Like an old vinyl record with a well-worn groove, the needle skipping merrily back to the same track over and over again, we repeat: Today’s markets are dangerously overpriced.
Being market fundamentalists who don’t believe it’s possible to simply print prosperity out of thin air, we’ve been deeply skeptical of the financial markets ever since the central banks began their highly interventionist policies. Since 2009, they have unleashed over $12 Trillion in new money into the world, concentrating wealth into the hands of an elite few, while blowing asset price bubbles everywhere in the process (see our recent report The Mother Of All Financial Bubbles).
Our consistent view is that price bubbles always burst. Which is why we predict the world’s financial markets will implode spectacularly from today’s heights — destroying jobs, dreams, hopes, economies and political careers alike.
Friday afternoon the Republicans “pulled” the AHCA without a vote.
This is the common way that the party in power makes sure you never get a recorded answer these days as to who opposes and who supports some piece of legislation: If there is no majority to pass it, they never vote at all.
If you think about it for a bit you’ll realize that’s the exact antithesis of representative government. Representative government not only “works” when it passes something it works when it fails to pass something too, and the list of elected officials who did and did not support something that fails to pass is just as important and maybe more-so than those who supported (or not) passed legislation.
But, now you simply have claims — not votes. And remember folks, claims are not votes; if they had been (according to the polls) we’d have President Hillary right now.
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