American households added $193 billion of debt in the fourth quarter, driven by a surge in mortgage loans, and overall debt levels rose to a new record at $14.15 trillion, the Federal Reserve Bank of New York said on Tuesday. 

Mortgage balances rose by $120 billion in the fourth quarter to $9.56 trillion, the New York Fed said in its quarterly report on household debt. Mortgage originations - pushed up by an increase in refinancing - also rose to $752 billion in the fourth quarter, reaching the highest volume since the fourth quarter of 2005, the report found. 

Student loan balances grew by $10 billion in the fourth quarter, a slower pace when compared to five years ago. However, the total $1.51 trillion outstanding in student loan debt could be holding back young consumers trying to build up credit, the researchers found. 

Credit card debt, which typically rises in the fourth quarter when consumers are doing their holiday shopping, rose by $46 billion last quarter, an amount economists said was larger than usual. 

“Mortgage originations, including refinances, increased significantly in the final quarter of 2019, with auto loan originations also remaining at the brisk pace seen throughout the year,” Wilbert Van Der Klaauw, senior vice president at the New York Fed, said in a statement. “The data also show that transitions into delinquency among credit card borrowers have steadily risen since 2016, notably among younger borrowers.”

 

Direct download: John_Grace_20.Feb.20.mp3
Category:general -- posted at: 8:01am EST

The Democrat clown car dumpster fire seems to know no bounds. Reparations galore for everyone compliments of Liawatha. Free money and free stuff will somehow carry the day, and perhaps for a large number of people, it will. Free operations for transgenders. What will Bernie charge for, will there be anything we have to pay for. Meanwhile Trump is standing by sidelines and hurling insults at the already challenged field and having a great party. But the party is about to end and then we'll see a landslide of epic proportions. 

Direct download: Joe_Messina_19.Feb.20.mp3
Category:general -- posted at: 8:00am EST

Rich Dad Advisor Ken McElroy recently wrote a new business novel today, “Return to Orchard Canyon." As CEO of MC Companies with $1 billion in real estate investments and Bestselling Author of five books, his new book offers a non-conventional and clever way to get a financial education through powerful storytelling.

Publisher’s Weekly describes “Return to Orchard Canyon” this way, “Readers should find the simple financial lessons in this accessible and rather sweet book to be memorable and actionable.”

In the opening Ken explains, “Many people are lost financially. Finding your way starts by returning to your own Orchard Canyon.”

The three main fictional characters are based on very relatable people at different stages of life, who are searching for answers about money, careers and dreams. Through these unlikely teachers, readers learn ways to overcome modern-day challenges and find a life of happiness and freedom.

This new novel provides powerful business and financial lessons learned by characters facing their own obstacles, including:

  • How to take action to get unstuck in your career if you’re feeling trapped.
  • How to build a successful business by investing in assets and businesses.
  • No matter how old you are, a willingness to be present and go after your dreams will always bring freedom.

“Return To Orchard Canyon” is inspired by a real resort owned by the author called Orchard Canyon on Oak Creek. It’s located in Sedona, Arizona’s red rock country, just a few hours north of Phoenix, Arizona. Similar to this resort experience, the Reynolds family in this book owns this “magical escape” with log cabins and a long history (think no TV, hiking by a babbling creek, wildlife, wood-burning fireplaces, apple cider, afternoon tea and delicious four course dinners). It’s the perfect setting to reflect on your life dreams and reenergize your goals.

Readers will quickly see the financial and emotional challenges faced by the dedicated middle-age banker and dad David Reynolds, who is at the center of the story. After getting laid off from his day job, David hides his career change from the family – especially from his father Ron, who is 82 and runs the family resort, Orchard Canyon. David’s daughter Meghan is a senior in high school who’s excited to attend expensive colleges, yet “is not sure what she wants to do” (sound familiar?). Everyone learns by observing the successes of David’s ex-wife Susan, who is a former employee, and now thriving entrepreneur and investor. And David learns to see opportunities versus giving up. In the end, readers will walk away inspired to take action and more control over their own destiny and happiness.

McElroy previous self-help books (also published by RDA Press) include more direct financial education tips, including: “The ABCs of Real Estate Investing”, “The ABCs of Property Management”, “The Advanced Guide to Real Estate Investing”, and “The Sleeping Giant”. “Return to Orchard Canyon” is the author’s new way of providing financial education to readers based on Rich Dad principles.

Direct download: Ken_McElroy_20.Feb.20.mp3
Category:general -- posted at: 8:01am EST

Michael Pento joined us on a day when gold broke $1600 and silver broke $18. What could be the cause of such a move? Perhaps it was Nanny Michael Bloomberg's pledge to tax Wall Street to the hilt. Or perhaps another Black Swan is getting ready to come public. One thing is for certain, the Fed has gone totally over the top on money printing and monetizing the debt. It can never allow interest rates to rise over current rates again. Stocks continue on at a completely insane over-valued track with no end in site. We truly are living in the New Economy. 

Direct download: Michael_Pento_18.Feb.20.mp3
Category:general -- posted at: 8:01am EST

M I C H A E L  A I N S L I E has firsthand experience with several high-profile events, including the 2008 bankruptcy filing of Lehman Brothers: He was one of ten people in the Lehman boardroom on the evening of September 14, 2008, who saw firsthand the events that led to the largest bankruptcy filing in US history. Michael offers readers an insider’s view of the situations surrounding the price-fixing scandal between Sotheby’s and Christie’s, a scandal that rocked the art world and sent the ex-chair of Sotheby’s to prison.

Michael has been a champion of education for decades. His passion has been the Posse Foundation, which he helped launch in 1994. Michael was Posse’s first board chair, serving for thirteen years and continues on the Posse board.

He had a distinguished business career serving as president and CEO of Sotheby’s from 1984 to 1994, leading a transformation of the worldwide auction business. Previously he was president and CEO of the National Trust for Historic Preservation from 1980 to 1984. While at the National Trust, he helped rewrite the tax law to provide a 25% investment tax credit for investment in historic buildings. This incentive radically changed the landscape of historic preservation.

 

Direct download: Michael_Ainslee_18.Feb.20.mp3
Category:general -- posted at: 8:00am EST

We told you over a month ago that there would be a brokered convention. As usual life is about to imitate FSN, never doubt us. I also told you in 2016 that Trump would be re-elected in 2020 and here we are. Mini-Mike has more money than God. And he's not afraid to use and abuse it. He's already spent more than 400 million dollars with no end in sight. If necessary he will personally bribe all 1550 delegates he needs to win the nomination. And then it will be curtains for the Democrat Party as we know it. Truly a Hobson's Choice. Two things are certain, Bernie McGovern can't win and neither can Mike Dukakis, Jr. Just like the best things in life are free, there's somethings that money can't buy, just ask Nelson Rockefeller. 

Direct download: TLR_477.mp3
Category:general -- posted at: 10:46am EST

As expected the market headed down in January with the SPDR's breaking 100mm volume, but then a funny thing happened, the market went back up. Nick's uncertain of the next move but his gut is telling him it's going down again. Tesla crashed but went way past Nick's call. The short sellers have been cleared out so the next move down is unlikely to result in a free fall. Gold and silver, are in consolidation, getting ready for a breakout down the line. Dollar and treasuries were up as Nick called it. Oil went down from $65 to $50, also in line with Nick's expectations. Lots more was covered here. We'll check back next month as usual. 

Direct download: Nick_Santiago_13.Feb.20.mp3
Category:general -- posted at: 8:01am EST

Amy Kremer is a Co-Founder and Chair for Women for America First and a former congressional candidate. By her reckoning the Democrat Party is in full meltdown mode. None of their candidates have a prayer of defeating President Trump. It’s going to be fun to watch. Get ready for a brokered convention and all the chaos that represents. Now it’s on to draining the swamp and Trump appears to be doing just that. Buckle your seat belt, it’s going to be a hell of a ride. 

Direct download: Amy_Kremer_13.Feb.20.mp3
Category:general -- posted at: 8:00am EST

Actually it doesn't and its recent parabolic rise is cause for concern because it's an analog to the broader markets. While Tesla is a ground-breaking innovative company, it's shares are certainly speculative, bordering on compulsive gambler territory. How many record stock market closes can there be? The tree does not grow to the sky and Bitcoin still have yet to reach infinity, with Tesla following closely behind. Debt fueled markets reach levels at which they cannot go higher and, in fact must decline. We've been having this conversation for years, but that day keeps getting closer and closer. Better to sacrifice a little bit on the upside to keep your capital in tact. 

Direct download: Danielle_Park_12.Feb.20.mp3
Category:general -- posted at: 8:00am EST

While Dr. Huber is bound by the standards of his profession in diagnosing the mental state of political figures, because he hasn’t done an evaluation or reviewed their medical histories. However, he can offer opinions and help educate the public about dementia and other gerontological mental afflictions. And Washington DC is a veritable gold mine of such conditions. Listen to a hilarious run down of possible ailments. We also talked about what's going on with the Coronavirus and why you shouldn't be panicked, at least yet. Lot's more here. 

Direct download: Dr._John_Huber_11.Feb.20.mp3
Category:general -- posted at: 8:01am EST

David Morgan says the time is right, the metals have moved and are ready to move higher. Look at how palladium and rhodium have taken off. Will gold, silver and platinum follow suit. Of course they're different metals with different markets and users. However, they've been in tight supply and demand has been increasing. Once you've got your core position in physical, then it's on to the mining stocks, where information is at a premium and failure is always an option. That means finding trusted advisors who know the score and the players, of which David Morgan has few if any peers. The potential in the mining sector at this moment in time is great, but as always proceed with caution and knowledge. 

Direct download: David_Morgan_10.Feb.20.mp3
Category:general -- posted at: 8:00am EST

With the Fed and Uncle Sam manipulating all the markets, you almost can’t go wrong with your investments. Bonds up! Stocks up! Gold up! Tesla, still up and probably going higher. So what could possibly go wrong? More and more leverage and debt equals disaster. 

Now that Trump has been acquitted, it’s time to clean house and all that experience in tidying up the Trump Hotels is being put to good use. The purge and the great swamp draining can’t be far behind. 

Direct download: John_Rubino_10.Feb.20.mp3
Category:general -- posted at: 8:00am EST

We sat down with our sponsor Lumina Gold's CEO, Marshall Koval. A company born of Ross Beaty's Lumina Group, things are looking up for its Ecuador Cangrejos project. With 16.7 million ounces of gold and 2.2 billion pounds of copper, there's no reason to believe that this endeavor won't be as successful as Lumina Group's others, which have returned over $1.6 billion to shareholders since 2004.

In fact, the story keeps improving and with the expected updated mine plan in Q1 2020 and updated PEA Study in Q2 2020, it should get even better. Add to that Ecuador's recently implemented mining friendly policies and laws, the project's closeness to a paved highway, two seaports, near proximity to the electrical grid and ample supplies of water, and it's no wonder that this project has garnered so much attention. But Marshall believes that the best is yet to come and if the past is any guide, he's probably correct.

 

Direct download: Marshall_Koval_10.Feb.20.mp3
Category:general -- posted at: 8:01am EST

George Leef is editor and George G. Martin Center for Academic Renewal. A recent US District Court decision appears to have reopened the door for  students drowning in college debt to remove it in bankruptcy. Is that a good thing? One the one hand the $1.6 trillion education bubble needs to be addressed or we'll wind up with a generation of student loan debt slaves. However, is it really fair to let them off the hook and simply forgive their debts? What about those who have repaid their loans or didn't take any out? A difficult dilemma in search of a solution. 

Direct download: George_Leef_07.Feb.20.mp3
Category:general -- posted at: 8:00am EST

Daria Novak, a former U.S. State Department official with significant experience in Chinese affairsChinese government officials, and even some trade experts in Beijing, breathed a quick sigh of relief as the 96-page, Phase One of the US-China trade deal was inked on January 15, 2020. But does it represent more than a short respite in the trade war?

Unlike previous American administrations President Trump demanded, and won, real concessions from the Chinese along with rules for enforcing those changes. The US stood its ground in the trade talks and refused to accept the small, incremental moves offered to and accepted without reciprocity by previous American administrations – Republican and Democrat alike. While it remains questionable that China will enforce all the new trade rules, especially if they stand in opposition to the government’s domestic economic development plan, Phase One will define the path the two nations walk going forward in 2020. For the first time there is a new law creating a domestic mechanism in China that can be used by aggrieved parties to demand a fairer playing field when it comes to the theft of intellectual property (IP).

According to the Agreement China must create a public action plan to explain how it will implement enforcement of IP rights and obligations. The requirement that China publish this enforcement data will, at a minimum, provide a more accurate method for Washington to gauge China’s progress. This was lacking in previous negotiations. In return the US has agreed only to reduce a portion of the tariffs on $360 billion in Chinese imports in the eight-chapter agreement. 

President Xi Jinping now faces a robust series of provisions in the agreement related to technology transfer and intellectual property theft designed to shed light on China’s unfair trade practices. At issue for the United States is whether or not Xi will take the pragmatic steps required to implement those provisions. On the other hand, the Trump Administration is not facing any new Chinese demands on technology transfer or IP protections – with well-deserved credit going to USTR Lighthizer who negotiated Washington’s core grievance well.  

 A less noticed but significant provision in the Agreement is the establishment of a Bilateral Evaluation and Dispute Resolution Office. This mechanism provides a tiered and straight-forward system headed by the USTR and a Chinese vice premier. Below them are designated positions to handle day-to-day issues and the appeals process. If no resolution can be reached there is a process in place that parties may use to escalate the complaint. In the past, US companies bristled at exposing their firms to the public scrutiny of making such a complaint. Whether the Office is a success may depend on American’s firms’ willingness to use it.

Remedial measures, according to the Agreement, are to be proportionate and not retaliatory with the goal of creating and maintaining a normal trading relationship. If the other side does not agree, the only possible recourse is to withdraw from the agreement with a 60-day written notice, an action China is not likely to take over a single issue. Talks on Phase 2 of the trade deal are likely to begin soon but not conclude until after the US Presidential this fall. 

At home President Xi faces a myriad of issues related to the US economic sanctions, including a cooling domestic economy with growth slowing to levels below the required 6.2% required to achieve the country’s 10-year economic plan goal. If China’s top policymakers cannot find ways to curtail the slowdown and maintain growth there may be increased instability in the Chinese economy. This is on top of other domestic issues Xi must deal with such as the unrest in Hong Kong and the Uighur minority in western China.

Direct download: Daria_Novak_07.Feb.20.mp3
Category:general -- posted at: 8:01am EST

The world is a complicated place. While things often seem to be happening independently of each other, they are actually  connections that we aren't aware of or that are deliberately hidden from us. Tesla was on its way to $1000 but stopped just short. Is the financial system about to collapse or is this the best economy ever? The stock market keeps rallying, as if there won't be anymore stock issued and you've got to get it while it's still available. Everything going on in our financial system is counter-intuited. Central banks keep pumping in the liquidity. The Fed's temporary lending programs seem to be on their way to permanency. As long as they're done under the guise of repo, then they'll never have to account for it. And it's happening over the world. 

Direct download: Rob_Kirby_06.Feb.20.mp3
Category:general -- posted at: 8:00am EST

Record identity thefts and record frauds in 2019. Over 3.2 million victims reported their crimes to the FTC during the year. There's a rich history of fraudsters in the US. From snake oil salesmen to IRS scammers, nothing ever really changes. Technology has greatly expanded the means to defraud, but the mindset has always been present. According to Heather it's all about how we're wired. Once you become aware of your susceptibility, you can do something about it. Otherwise you're a sitting duck. 

Direct download: Heather_Wagenhals_04.Feb.20.mp3
Category:general -- posted at: 8:01am EST

John Soforic learned about building wealth from a mentor. When his son Michael was in college, to help him avoid the pitfalls that he encountered, he wrote him a personal book about building wealth. That book became the basis for John's website and books, The Wealthy Gardener. Together we discuss the lessons of life including: The Law of Attraction, participation trophies and why you need to meditate. A very enlightening discussion. 

Direct download: John_Soforic_06.Feb.20.mp3
Category:general -- posted at: 8:00am EST

Ed Karr, CEO of sponsor US Gold Corp joined us for an update. While the junior mining sector has been subdued as of late, Ed keeps pushing the company forward. US Gold Corp is moving rapidly ahead with its Copper King Project as well as its Keystone and Maggie Creek properties. Copper King is getting closer to a PFS and is well along in the permitting process. Keystone's recent drill holes showed strong anomalous gold and the odds of a major discovery there have increased greatly. And things are just getting started at the newly-acquired Maggie Creek project, which is located right in the middle of the world-famous Carlin Trend. With 3 projects and high expectations, it just a matter of time. 

Direct download: Ed_Karr_04.Feb.20.mp3
Category:general -- posted at: 11:51am EST

Kevin Bupp is the Founder & CEO of Sunrise Capital Investors, which invests in mobile home parks, apartments, offices, and single family homes all across the US. 

As Kevin relates the competition to purchase mobile home parks has increased greatly over the past few years. Kevin has come up on a new area to invest - parking lots. The annual returns average 6 - 7%. Cash flow increases over time with higher rates and inflation. And hopefully the lots will appreciate as well, so you're basically getting paid to wait. An interesting opportunity. 

Direct download: Kevin_Bupp_03.Feb.20.mp3
Category:general -- posted at: 8:01am EST

Mickey's Monthly Market Summary

DJIA 1/31/20 28256 -1.00%
S&P 500 1/31/20 3225 -0.20%
NASDAQ 1/31/20 9151 2.00%
RUS 2000 1/31/20 1614 -3.20%
TSX 1/31/20 17318 1.50%
TSX.V 1/31/20 575 -0.50%
MCSI 1/31/20 1062 -4.80%
VIX 1/31/20 18.84  
DXY 1/31/20 98.38 1.90%
EURO 1/31/20 1.11 -1.10%
10 Year 1/31/20 1.49 -22.40%
Bitcoin 1/31/20 9370 31.00%
Au 1/31/20 1589 4.70%
Ag 1/31/20 18.01 1.00%
Pt 1/31/20 958 -0.60%
Pd 1/31/20 2190 13.90%
Cu 1/31/20 2.54 -8.80%
WTI 1/31/20 51.58 -15.50%
Brent 1/31/20 56.67 -17.10%
Henry Hub 1/31/20 1.84 -16.00%
U308 1/31/20 24.7 -1.00%
Ratios Au : Ag Pt : Au    Pt : Pd
  88.23 0.6 0.44
  BRT:WTI WTI:HH   AU:WTI
  1.1 28.03 30.81

For January 2020, DJIA slipped 1%, TSX up 1.5%, Emerging markets down 4.8%. VIX ended the month at 18.84, up from 13.75 the prior month. Dollar up 1.9% on Asian Flu ills. Euro down 1.1%. 10 year yield down to 1.49 and Bitcoin up 31% to 9370. 

Direct download: Mickey_Fulp_04.Feb.20.mp3
Category:general -- posted at: 3:48pm EST

Buy the long bond as world central banks get ready to flood the system. China put $176 billion into their banking system Monday. While it didn’t help the Chinese market, it did help everywhere else, especially in the US. Brexit came and went and what’s next? The globalist elite is now liking Brexit as they use the next crisis to further cement their power. They’re not sweating yet as they’re playing a longer game. The next downturn will lead to greater world integration and perhaps more globalization.  

Direct download: John_Rubino_03.Feb.20.mp3
Category:general -- posted at: 8:01am EST

Ignore all the posturing, all of the impeachment nonsense is coming to an end. While Romney may try to get Trump, it’s not going to work. Nice guys truly do finish last. He’s a dishonest, blow-dried slime according to Karen. His kids are knee-deep in the Ukranian corruption scandal. Politicians can’t pull it off any longer. The people have had enough. Given the next Trump term, hopefully there’s no going back. 

Direct download: Karen_Kataline_03.Feb.20.mp3
Category:general -- posted at: 8:00am EST

Adam Andrzejewski of openthebooks.com has been exposing corruption around the country for years. Recently he requested a copy of California’s main checkbook and was greeted by a denial from the State Controller that the records of some 49 million bills didn’t exist. Therefore she was unable to comply. Adam isn’t taking it and has initiated a legal action to force the disclosure. Adam wants the state to join the transparency revolution. 

Direct download: Adam_Andrzejewski_31.Jan.20.mp3
Category:general -- posted at: 8:00am EST

Whether it’s the impeachment or just everyday government operation, it’s all about the big lie. But Trump has learned how to turn the lie against the Dems and the Deep State. It’s all part of the playbook. Bring in last minute witnesses to attack Kavanagh or Trump - during the election or his impeachment. He will be exonerated and acquitted, but the Democrats will say that the Senate was covering up. Will the RINO’s hold tight? Either way, it’s going to end shortly and not favorably to the President’s enemies. 

Direct download: James_Hirsen_29.Jan.20.mp3
Category:general -- posted at: 8:00am EST



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