Holistic Survival Show - Economic Crisis

Sun, 31 July 2022

617: How Can We Fix Our BROKEN Economic System? - Laurence Kotlikoff

Jason Hartman invites Laurence Kotlikoff, Professor of Economics and NY Times Best Selling author of Money Magic: An Economist's Secrets to More Money, Less Risk, and a Better Life, to the show today.

Are the United States' long term fiscal problems solvable? How HIGH would federal taxes have to increase to pay for our spending? Could we fix the system with healthcare reform? What will be the economic consequences of Russia's war with Ukraine? Jason Hartman and Laurence Kotlikoff discuss the outlook for the future and much more, including unfunded mandates, debt vs. GDP, tax hikes, why NOT to borrow to pay for college and what to do in times of economic uncertainty.

Key Takeaways:

1:00 Welcome Laurence Kotlikoff, Professor of Economics and NY Times best-selling author

1:57 What are unfunded mandates?

3:09 Official and unofficial liabilities

3:42 Debt vs GDP

5:35 We need a sizable tax hike to fund social security benefits

8:27 Tax brackets and government benefit programs

10:03 Could we fix the system with healthcare reform?

13:30 Money printing puts pressure on prices

17:05 Kotlikoff on inflation and hyperinflation

20:03 Russia/Ukraine, China/Taiwan - what do these conflicts mean for the economy?

21:31 The humanitarian and economic consequences of war

24:07 Stock market risk

25:08 Tips from Kotlikoff's new book: Money Magic: An Economist's Secrets to More Money, Less Risk, and a Better Life

26:18 Don't borrow for college: it's a scam

29:16 Strategies to protect yourself in times of uncertainty

31:08 Find Laurence at Kotlikoff.net

31:26 Final thoughts on Russia/Ukraine conflict

32:35 Government borrowing rates

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Direct download: 617_How_Can_We_Fix_Our_BROKEN_Economic_System_-_Laurence_Kotlikoff_v1.mp3
Category:general -- posted at: 1:00pm EDT

Sun, 24 July 2022

616: Lumber SHORTAGE = Logistical Nightmare! Simon Caron, Uneducated Economist

Jason Hartman welcomes Simon Caron, the Uneducated Economist, who quite frankly, is a lot more educated than many economists out there! With a background in the lumber industry and his direct work in sales at a lumberyard, Simon's research comes from real world, real life experience as he deals firsthand with the current building material and lumber shortage logistical nightmare on a daily basis.

He reports that lead time for a lot of building materials is now three months and discusses the Cantillon Effect, worsening inequality and the crisis builders are facing just to get their projects completed. Builders are having to order supplies before they even have a permit, putting the cart before the horse! Simon also encourages you to pay close attention to debt (especially corporate debt), rising interest rates and central bank digital currencies.

UneducatedEconomist.com
"Welcome to the Uneducated Economist, the place where street level thoughts and conversations take place covering all things macroeconomics. I have never taken an economics course, nor was I raised with that being a common topic of discussion. When the great financial crisis hit in 2007, I found myself very confused by the collapse of the economy. What started off as curiosity, grew to a hobby, and has now become an obsession. Studying the economy, the cause and effects of monetary and fiscal policy is difficult to understand - to say the least. As The Uneducated Economist I take complex economic issues and break them down so anyone can understand and have a conversation about."

Key Takeaways:

1:00 Welcome Simon Caron, the Uneducated Economist - the logistical nightmare behind the current lumber shortage

5:00 Builders need to order supplies before they even have a permit which puts the cart before the horse

6:08 If building material costs keep going up, how can home prices stabilize?

8:35 Widening gap between housing starts and housing completions

10:43 Windows are to houses as semiconductor chips are to automotives

12:35 Simon Caron explains the Cantillon Effect

15:24 The Cantillon Effect leads to wealth transfer and poverty

17:50 How will this building and construction issue play out over the next 1-2 years?

20:33 The Fed has lost control over inflation

23:12 California's supply chain problems and shortages

23:54 Decline in the standard of living

27:33 Pay attention to debt (especially corporate debt), rising interest rates and central bank digital currencies

30:23 Moving away from the Dollar as a reserve currency

31:29 The good, the bad, and the ugly about central bank digital currencies

33:06 Central bank digital currencies and universal basic income are inextricably connected

35:21 It's become burdensome to use cash

38:08 Find Simon Caron on YouTube, Instagram and UneducatedEconomist.com