Fri, 7 August 2015
CW 552 FBF - The Housing Boom and Bust in America with Economist Thomas Sowell of The Hoover Institution at Stanford University
Orginally aired as CW 117
“For far too long, too many people have regarded home ownership as ‘a good thing.’ It is certainly true that home ownership has its benefits. But, like everything else, it also has its costs and its risks.” This statement by Creating Wealth Show guest, American economist Thomas Sowell has been regretfully muttered by many homeowners in various forms over the past two years.
Sowell is currently a senior fellow with The Hoover Institution at Stanford University. In 1990, he won the Francis Boyer Award, presented by the American Enterprise Institute. In 2002 he was awarded the National Humanities Medal for prolific scholarship melding history, economics, and political science. Known for his economically laissez-faire perspective style while writing, Sowell’s latest book, The Housing Boom and Bust, shows how Democrats and Republicans ruined both the housing and financial markets.
Tune in as your host, Jason Hartman and Thomas Sowell discuss how “the current economic crisis grew out of policies based on good intentions and mushy thinking.” Upcoming Shows will feature: Andrew Waite, Publisher of Personal Real Estate Investor Magazine and Dan Blacharski, author of The Part-Time Real Estate Investor: How to Generate Huge Profits While Keeping Your Day Job.
Wed, 5 August 2015
Throughout history the human race has not changed much even with all the extreme technology in our lives today. There is a chance of robot labor causing mass unemployment but it’s not likely. Entrepreneurs by nature are persistent, durable and pig headed which leads to innovative and determination. For the United States to continue its great heritage we need more experimentation in education, to make use of all of North American assets and to follow the 6 key steps to building great companies a belief of Gary Hoover.
[2:36] Memories of Monopoly, past and recent
[6:56] Memories of Facebook, during the recession
[8:54] Cash flow in a RV ratio
[10:20] The San Diego event - JHU Live
Gary Hoover interview:
[11:28] The addiction of collecting memorabilia
[12:50] Becoming efficient in learning is harder with digital books
[14:52] The table of contents contains the key points
[18:28] Thick books sell but e-books are the future
[21:54] Many reference books are 300-1500 pages
[23:07] The lemming effect - Ben & Jerry’s were the cool entrepreneurs
[24:37] The value of The Book Stop
[27:49] Startups need to look at the long term
[29:10] Europe’s standard of living is much lower than the U.S.
[32:34] Raising the minimum wage is cruel
[34:27] You attitude makes all the difference
[36:27] North American countries working together would be a powerful force
[37:54] Curiosity has been driven out of kids heads in the U.S.
[41:25] The first innovation museum, robotics are part of lives right now
[44:17] A rise of craft manufacturing in our affluent society
[45:44] Training and educating our children for the future
[48:07] Economist Robert Fogel, a spiritual shortage
[50:30] Contact Gary at email@example.com
Direct download: CW_551_Gary_Hoover_Hoovers_Bigwig_Games_Bookstop_The_Reference_Pass.mp3
Category:general -- posted at: 2:23pm EDT
Mon, 3 August 2015
CW 550 - Joe Vitale - Money The Law of Attraction and Action Steps - No One is Preventing You from Making Money You Simply Need to Think Like an Entrepreneur
Dr. Vitale believes when you learn to get clean with money and stop self sabotaging your financial future you will start to attract more money to you. You must first get through the filters that are your beliefs and see what is really possible to know you are deserving of living a wealthy life. When you want something and have the means to obtain it you should buy it to reinforce an unconscious belief of worthiness. And, always give back a portion of your good fortune to create a bond of trust in the universe.
[2:01] Indicators for an available single family property in Chicago area
[5:32] What is a DCR?
[8:45] Sign up for JHU - Live in San Diego August 29th & 30th
[9:25] An iTunes review gets you 30% off!
Dr. Joe Vitale Interview:
[12:54] Dr. Vitale has been working on this lately
[15:33] The lifestyle of the rich and famous is better than poverty
[16:00] The 2 reasons you don’t let money into your life
[17:03] Get clean with money, money isn’t evil money is neutral
[18:56] The Secret is an introduction to an idea
[19:56] Taking inspired action after visualising your want
[21:55] Our conscious beliefs are us in the waking world
[24:32] The 7 steps in the free Attract Money Now book
[26:30] The difference between a fact and a belief
[30:13] The psychology around prosperous purchasing
[32:40] No one is preventing you from making more money
[34:11] Give 10% of what you have to what or who inspires you
[38:06] Think like an entrepreneur and look for opportunities
[38:50] Listen for complaints and make the product or service solution
[41:20] Mr. Fire ignites something in people
Direct download: CW_550_Joe_Vitale_Money_The_Law_of_Attraction_and_Action_Steps.mp3
Category:general -- posted at: 8:11pm EDT
Fri, 31 July 2015
Orginally aired as CW 141
During turbulent economic times, people can become their own worst enemy. The uncertainty of the stock market creates massive insecurity about our investment portfolios. These doubts are quite reasonable and it is time to stop trusting Wall Street and start being a direct investor by purchasing hard assets which are not subject to the greed, graft and manipulation of CEOs, investment bankers, fund managers and the government. Prudent investing is a prerequisite to The American Dream of financial freedom.
Learn from the mistakes of others rather than “the school of hard knocks.” Tune in to this episode of The Creating Wealth Show as Jason reveals 30 fatal mistakes you must avoid in order to achieve financial independence and investing success. Upcoming shows will feature: Bradford B. Smart, author of Topgrading for Sales: World-Class Methods to Interview, Hire, and Coach Top Sales Representatives and Lisa Bromma, author of Wise Women Invest In Real Estate.
Wed, 29 July 2015
CW 548 - Greg Scott Investing in Detroit - How Self Driving Cars May Change the Landscape of Real Estate in Cities Like Detroit and Make You a Nomad
Greg is a long time listener of the Creative Wealth show and purchased his portfolio properties through Jason’s channels way back in the late 2000’s. Greg heard his hometown of Detroit battered in Jason’s property tour review episode and called in to set the record straight about possible opportunities in Southern Michigan. He and his wife work in the automotive industry and are successful real estate investors in several different states.
[1:22] Great upcoming episodes
[3:16] Scott McManus warns about using Self Directed IRA’s for real estate
[5:00] Thorough background checks
[5:52] Mitigating your risks by choosing a larger investment organization
[6:48] An LLC entity inside of an IRA
[9:05] The big event in Mission Valley San Diego
Greg Scott Interview:
[12:12] Greg is a Jason Hartman real estate investing success story and Jason’s favorite listener
[15:27] All real estate is local
[17:51] The 11th wealthiest city in the U.S. is in Detroit
[20:26] Trends in the Detroit area
[22:21] Optimism for the city proper
[27:31] Investing in an industry that is not your bread and butter
[28:16] Greg’s powerpoint presentation and the syndication
[35:10] Export Marketing and Product Forecasting for Ford
[36:34] Self driving cars is a project every automotive company is working towards
[39:12] Ann Arbor has a fake city to test self driving cars
[41:06] The freedom that goes along with self driving vehicles
[44:55] The parking real estate conundrum
[47:19] Painting a better picture of Detroit
[49:28] A flipper who became a long term investor
Mon, 27 July 2015
CW 547 - Ben Mezrich - Dangerous Putin - Is Russia Living in a State of Crony Capitalism and Do Rich Russians Invest in the U.S.
Vladimir Putin’s rise to the top is a Shakespearean drama. Putin the President was created by a group of wealthy businessmen to replace Boris Yeltsin. While believing they found a man who aligned with their own desires to keep the money at the top, Putin had different ideas. He successfully brought down elite families who disagreed with his politics. Russians embraced the leader and made him one of most popular Russian presidents of all time. Ben Mezrich shares his journey of writing his latest book, soon to be movie, Once Upon a Time in Russia.
[1:24] JHU live - Jason Hartman University Live
[2:44] In beautiful Mission Valley San Diego on August 29th
[4:18] In depth training on building your own portfolio
[6:01] You’ll get an official property acquisition checklist
[7:00] Learn property portfolio planning
[8:07] Early bird pricing until August 1st
[10:05] Leave a review on iTunes and you get 30% discount on JHU
[10:58] Inflation induced debt destruction
Ben Mezrich Interview:
[14:51] Many stories just kind of came to me
[15:45] Misconceptions about Putin
[16:14] Oligarchs miscalculated and created Putin by mistake
[18:17] The Godfather of the Kremlin
[18:55] Putin was an assistant KGB agent with average pay
[20:57] The Russians love Putin and possibly some Ukrainians too
[24:06] This story is a very Shakespearean drama
[25:32] Warner Studio is making the movie
[26:10] Putin may be around for a long time
[27:52] Russia is in the midst of crony capitalism
[29:12] Will Russia have a middle class in the future?
[32:00] Yeltsin basically made the Oligarchs to fend off Communism
[33:37] Was entering Ukraine and effort to recruit young people for Russia?
[34:44] When oil prices go down the Russian economy suffers
Fri, 24 July 2015
CW 546 FBF - Dubious Ethics and Deceptive Practices in the Financial Services Industry with Investor Watchdog Jack Waymire
Join Jason Hartman and Investor Watchdog, Jack Waymire, for a discussion concerning the ethics of the financial services industry. According to Jack, the frequent lack of integrity undermines the achievement of investors’ financial goals.
Companies do not do what is best for you. They are very good at hiding information that they do not want their investors to know. Investor Watchdog investigates these companies and products, acting as a go-between for investors and advisers, answering frequently asked questions, such as, “How do I know I’m getting the right financial advice?” Jack shares examples of deceptive practices by various companies and how the executives that run the companies, i.e. Goldman Sachs, are insulated from accountability simply by paying fines rather than serving jail time for unethical and illegal practices.
Jason and Jack touch on the subject of the Madoff Ponzi Scheme, where Jack talks about some of the evidence that was found, as a glaring example of unethical sales pitches and conman tactics. Jack also informs listeners of what deceptive sales practices to watch out for when dealing with financial advisers.
Jack entered the financial services industry as a financial consultant in 1976 for Warburg, Paribas Becker. He provided financial advice to companies, public entities, Taft-Hartley funds, endowments, and foundations with assets exceeding $7 billion. After spending two years with an investment firm, Jack co-founded Lexington Capital Management in 1983, a money management firm that wholesaled its services through wirehouses and regional broker-dealers. In 1989, Jack also founded a broker-dealer and built a national retail distribution system to market its products and services. Between 1996 and 2003, Lexington was sold to two larger financial service and technology companies. In his last position, Jack was President of Sungard Advisor Technologies. During these 20 years, Jack worked with thousands of investors and financial advisors and was responsible for providing services to individual investors with billions of dollars of assets.
In 2004, Jack left the financial services industry to market a book he authored: Who’s Watching Your Money? The 17 Paladin Principles for Selecting a Financial Advisor. Published in December, 2003, by John Wiley & Sons, his book was widely regarded as the first to provide an objective process investors could use to select higher quality advisors and to avoid the risks and consequences of bad advice from lower quality advisors. In 2004, Jack co-founded PaladinRegistry.com, a website that took selected content from his book and made it available to investors over the Internet. Later in 2004, a Registry of pre-screened, five star rated financial planners and financial advisors was added to the website. Paladin became the first online firm that vetted financial professionals for investors and provided comprehensive documentation for their credentials, ethics, business practices, and services. In 2008, Jack was instrumental in the development this blog site (InvestorWatchdog.com) that reports on investment risks that result from ethical conflicts in the financial services industry. Jack has appeared on CNNfn and over 100 national, regional, and local radio shows to talk about the subject matter of his book, the risk and consequences of bad advice, and Paladin’s free online solutions. He is also widely quoted in the print media including Forbes, BusinessWeek, Worth, and Kiplinger and is a columnist for Worth Magazine. Jack can be reached at Jack@InvestorWatchdog.com.
Wed, 22 July 2015
CW 545 - Harry Dent How to Profit from The Demographic Cliff - Central Bankers Have Gone Mad and are Creating a Huge Bubble that Will Burst
This is a must listen to episode for investors. Guest Harry Dent has written over 7 books on using demographics to predict economic outcomes. He and Jason discuss the inevitable Chinese market crash, the deflation that is headed our way and the massive amounts of debt in the private and public sectors. For real estate buyers, it appears that the everyday house is the best place to invest right now and in the next 3 to 4 years we just might see the lowest interest rates on mortgage loans of this lifetime. Harry warns that the bigger the bubble the bigger the burst and predicts we will see the Dow drop below 6000 in the coming years and fracking bonds will be crucified.
[2:06] Daniel wants to know about a sole proprietorship
[3:48] There is no asset protection sole proprietorship
[4:37] An LLC could be a self management company
[6:15] Self managed properties
[8:08] The power of the Venture Alliance Mastermind
[9:34] Jason’s next event - Sept/Oct
[11:28] The cost of colonizing the moon
Harry Dent interview:
[12:58] Florida the no income tax state
[13:44] A something for nothing life is not realistic
[14:36] Deleveraging the debt leads to money disappearing
[16:22] Debt grew 2.7x’s faster than GDP
[17:48] We are sitting on unfunded liabilities at 4x’s the GDP
[18:54] Debt detox is needed
[21:17] Is the U.S. in a legitimate economic recovery?
[24:39] Harry’s opinions on high end real estate
[26:41] Banks and governments made bad loans
[27:23] Why the uber rich won’t get richer after this bubble
[28:51] The greater fool theory - the Chinese are the last fools standing
[31:16] Trends and data from China
[33:45] Speculation will cause the crash in China
[35:22] The U.S. fracking industry will default
[37:00] Deflation is a sign a bubble is bursting 100 trillion dollars will disappear
[38:19] The Dow will drop to under 6,000 in the magphone pattern
[41:25] Junk bonds will be crucified and growing default rates
[42:48] Mortgage rate will come down in 3 or 4 years
Direct download: CW_545_Harry_Dent_How_to_Profit_from_The_Demographic_Cliff.mp3
Category:general -- posted at: 3:37pm EDT
Mon, 20 July 2015
Being stranded at the airport waiting for a flight is never fun but Jason and Fernando make the best of it by recording their observations of the investment property tour of Chicago and Grand Rapids. Overall, Chicago looks promising with strong providers and good properties. Grand Rapids was charming and offered many financing choices for current and future investors. A quick stop was made to Detroit to get feel for the area and look for opportunities that may be hiding there. The extra stop proved to be a disappointment based on the city’s state of disrepair and mass exodus of previous inhabitants.
[3:09] A Mastermind meeting on Monday & Tuesday
[3:42] A semi-private property tour
[4:09] Met local market specialists and in-house lending department
[6:32] The tenant turnover rate in an apartment in Chicago
[7:21] Tenant turnover rate in a single family home is much longer
[8:10] Virtual apartment investments
[9:00] Refinance discussion on a future episode
[10:06] Land contracts in Grand Rapids
[10:39] Direct buying properties via self directed IRA
[12:40] Cosmetic changes are easy on good investment properties
[14:18] The Cold Stone Philosopher’s Club
[15:28] Detroit was depressing
[17;39] Corrupt mayors & declining auto industry led to the death of Detroit
[19:21] Property taxes in Chicago
[20:05] Providers make it possible to remove maintenance costs
[21:55] Judicial foreclosure states are good for investors
[23:25] Chicago is a world class city
[24:16] Differences of a small provider versus a large provider
[26:00] The small group tour was intimate and enjoyable
Fri, 17 July 2015
CW 543 FBF - Rapidly Rising Costs of Business in China with Shaun Rein Author of “The End of Cheap China”
Originally aired as CW 252
Despite popular belief, China is no longer a cheap place to do business with labor costs and real estate costs soaring. Join Jason Hartman as he interviews Shaun Rein, author of The End of Cheap China and Managing Director of China Market Research Group in Shanghai, about debunking common myths, such as China is stealing U.S. jobs.
Many companies have begun doing business in China, due to what Shaun refers to as “capitalism on steroids.” Labor costs have increased in China to the tune of around 20 percent, and the government is trying to increase wages yearly over the next five years. Another factor affecting manufacturing costs over time is that fewer of the younger generation wants to be employed in manufacturing jobs, wanting to realize their white class dreams. China is also pushing middle class development to offset the manufacturing issue.
Shaun Rein is the Managing Director of CMR, the world’s leading strategic market intelligence firm. He is one of the world’s recognized thought leaders on strategy consulting.
He is a columnist for Forbes on Leadership, Marketing, and China and for BusinessWeek’s Asia Insight section. He is often featured in the Wall Street Journal, the Harvard Business Review, The Economist, The Financial Times, Newsweek International, Bloomberg, Time, and the New York Times. He is regularly interviewed by American Public Radio’s Marketplace and NPR.
He frequently appears to deliver commentary on CNBC’s Squawk Box, Bloomberg TV, CBS News, and CNN International TV. Before founding CMR, he was the Chief of Research for venture capital firm Inter-Asia Venture Management. He also was the Managing Director, Country Head China for e-learning software company WebCT where he also ran the company’s Taiwan and South Korean operations. He also served as the Assistant Director of the Center for East Asian Research at McGill University. He earned his Master’s degree from Harvard University focused on China’s economy and received a BA Honors from McGill University.