Kerry Lutz's--Financial Survival Network (general)

Mises Institute's Mark Thornton stopped by today for the first time. When it comes to free markets and Austrian Economics, he's a heavy weight. His writings are found on the Mises site and around the web. We discussed the proliferation of super tall buildings happening across the globe. Mark has shown that they're a surefire sign of malinvestment that comes from artificially low interest rates. These buildings are popping up in North America, Europe, the Middle East and China. Will the usual economic bust follow in their path? Well if past is prologue, expect economic devastation to follow in their paths. 

Gold and Silver are holding up very nicely considering that it's Federal Open Market Committee Week. We've got Dave Kranzler talking about the real news on real estate and gold and silver. We've got the Mises Institute's Mark Thornton talking about his much heralded skyskraper index. And finally we've got Darryl R. Schoon talking about what's next for the economy and the world. All-in-all a great day for FSN. 

Dave Kranzler watches the real estate market very closely and sees some alarming trends happening now. Whereas low inventory has been the buzzword for the past two years, now inventory is increasing and sales are slowing. This bad trend shows no signs of slowing. There's still a record number of people who are underwater in their homes and thus have no ability to move. Combine this with the millenials who have crushing student debt and no wonder the housing market has lost its legs. 

Professor Laurence Kotlikoff is concerned about the dollar and the stability of the world banking system. So much money has been printed to get the world economy through the last crisis. Will that money cause inflation? Will it cause a loss of faith? Will there be bank runs like in the 1930's? I assert that the age of the 1930's style bank run is over because of the death of cash. So you go to your bank and they give you a debit card with your life's savings. Then what? Where do you take it? Or they give you a bank check, where do you go then? Take it to another too big to fail bank and deposit it? Bank runs are obsolete. So we're all stuck with the bank we have now. 

• Cluster of 400 Institutions Collectively own $29 Trillion in Stocks;
• Governments careening out of control;
• Iraq and the Ukraine;
• FOMC Meeting this week;
• ECB Meeting last week;
• US Economy bad stats;
• US Supreme Court favors hedge funds over Argentina;
• Social unrest in Brazil during the World Cup;
• No one wants 2022 Winter Olympics.

It's Monday, June 16, 2014. We've got an interview with Julian DW Phillips. He thinks that gold has almost certainly put in it's bottom and that the West is finished transferring it's gold to the East. This can only mean higher prices. Then we've got John Rubino talking about shocking developments in China and amazing No-Doc Loans to businesses; Andrew Hoffman's Manipulation Monday discussion and Prof. Laurence Kotlikoff returns. Don't forget to go to Patreon.com/KerryLutz to support the show. 

John Rubino of DollarCollapse.com was on talking about the deteriorating situation in Iraq. Unlike the 1970's when the world economy was much stronger, can it withstand $150 or $200 per barrel oil? Probably not for too long. Did you know that China's central bank is now the world's largest holder of equities? How did that happen and what do they own? Banks are now making low and no documentation loans to businesses. That will end about as well as no doc loans to homeowners did.  

Julian DW Phillips has a unique perspective on the precious metals market. Located in South Africa, along with the benefit of decades of experience, Julian sees that gold is being re-monetized and the supply is diminishing. This means that the value is going way higher. In addition, the balance of economic power is shifting from West to East. It's all about to hit the fan and you need to be ready. 

The Ayn Rand Institute's Elan Journo discussing the numerous failings of American Foreign Policy. From Vietnam forward, it's been one failure after another. When America doesn't stand for its ideals it winds up standing for nothing.With latest developments in Iraq one must wonder what it was all for. 

Nick Santiago of InTheMoneyStocks.com is an ace technical investor. He sees the stocket as just about played out on the upside. But he's nervous about shorting a dull market. Therefore, he wants to go short on certain sectors like natural gas. He believes that gold and silver have one more correction to the down side and then it's straight up for many years to come. His opinion is confirmed by many other experts who've recently been on the show. Hopefully they're right and gold and silver will finally be unshackled and allowed to seek their natural price levels. 

We get interviewed by TheRealSide's Joe Messina. Always good for some laughs. We give Joe our take on immigration, the real economy what needs to be done to avoid all out catastrophe. It's always fun talking to Joe. 

A new FSN feature discussing what's happening today on the show and the latest on gold and silver prices. It's all about what's next!

We had a great interview with noted economist and author Richard Duncan yesterday. While he advocates a pragmatic view and acceptance of the status quo and abandonment of our ideals and capitalism, I can't accept that. Expecting the government to make successful bets on future technologies is a long shot that is destined to fail. Rather we need to find a way back to our roots and sound money and to mitigate the inevitable damage, because either way, pain is going to occur. 

Speaking of failure of the existing paradigm there's Rhode Island and Providence Plantations. That's the actual name of the Ocean State. And they had a referendum in 2010 because some people believed it was racist. Plantation in English meant colony. But they have far greater problems, the state is a Stalinist Theme Park. It's an epic fail. Liberalism and Progressivism have had their way since 1935 and the place is falling apart. And the people are too arrogant or stupid or both to see it. 

Then there's that other epic fail, Detroit. What to try next? Perhaps urban homesteading. Knocking down all 40,000 abandoned homes will only cost $850 million or $22k each. Sounds like a steal! Why not have an Uber wrecking App and have a Dutch Auction? These homes are truly worth more dead than alive. 

James Hirsen says the recent primary election results in California brought some rare good tidings to the beleaguered Golden State GOP. The Democrats in the California State Legislature, who once thought that they were easily going to recapture supermajorities in both state houses, now see their desired outcome as a much more remote possibility. Surprisingly, candidates in key races for the California State Senate, who by significant margins obtained the highest vote counts, were Republicans. The state senate is significant in that it is the legislative body in which Democrats were involved in scandals, which resulted in three politicians being suspended from office and criminal charges being lodged against them.

Gordon T. Long was on today talking about the Uber Revolution taking place in Europe. Seems the state-sponsored taxi monopolies are none too happy about the competition that this little app is causing them. Nevermind the employment opportunities for all the unemployed students, it's undermining the power of the state. And what's going on with the re-hypothecation scandal in China. Who owns anything anymore? Nonone knows. Just wait till the next crash. 

Dr. Yaron Brook of the Ayn Rand Institute believes that income equality is good for society. People are different and not everyone is puts forth the same effort or generates the same productivity. He believes that the left's rallying cry is false and just another effort to confiscate wealth from those who produce it. It's much like their efforts to raise the minimum wage. They know that it will benefit no one, but it makes for good headlines and is proof of their lofty intentions. 

Richard Duncan is a well known economist and author. He's written three books explaining exactly what's wrong with today's economic system. Capitalism is dead, we now have creditism. It's too late to go back and the results of any effort to do so will be nothing short of catastrophic. We have to make the best of what we have. The government should invest wisely in new technologies that will reap huge dividends that will enable us dig out way out of the huge hole we're in. Can it work? Perhaps, but no one has proposed a better solution. Richard has a special offer to FSN listeners. Go to RDMacroView.com and use the code Network. Sign up for the FSN newsletter to listen to part two of this interview, it's extremely compelling radio. 

Former Congressman John LeBoutillier believes that Bergdahl swap was merely a smokescreen to get the VA Scandal off the front pages. If that was the case, it failed miserably. The VA Scandal isn't going away and neither is the scandal that arose from releasing 5 of the most dangerous Taliban leaders kept in Gitmo. 

Danielle Park joined us for our bi-weekly discussion. During an economic downturn it's important to temper your expectations when it comes to your return. Instead of 8 percent with mountains of risk, a 2-4 percent riskless return starts looking pretty good. If you don't believe it, just look at Detroit's pension fund. It's beneficiaries are taking a major hit in the bankruptcy because it's former mayor decided to line his pockets at their expense. 

Comrade DeBlasio who succeeded Nanny Bloomberg as mayor of New York City has a not so-secret plan to expand the City's welfare rolls. He's dropping the work requirement for recipients to receive welfare and foodstamps. This reverses a 20 year old policy that reduced the number of public assistance beneficiaries by nearly 80 percent. But now it's gone. That's progressive progress!

Don Watkins of the Ayn Rand Institute has a new book out, RooseveltCare: How Social Security Is Sabotaging the Land of Self-Reliance. In it he makes a very pursuasive argument that abolishing Social Security will help restore America to economic sanity. The program has had a very corrosive effect upon American's self reliance and has led to an involuntary multi-generational transfer of wealth. If left unchecked, an economic meltdown is sure to occur. 

Jason Hartman has been investing in real estate for decades. He's been extremely successful at it and he wants you to be too. His system is simple and easy and he stays with you every step of the way. For 10 lucky people who win this contest, you and a person of your choosing will get to attend one of his amazing events on Saturday, June 28, 2014. Listen to the interview and enter. It will be fun and profitable!

Dr. Ivan Eland is no fan of Gitmo or the extra-legal detention of enemy combatants, but he's troubled by the way the administration arranged the prisoner swap, violating the law and gaining nothing in return. He believes that the President should investigate the manner in which Bergdahl disappeared and the deaths of those who were searching for him, in order to dispel the rumors and half-truths that have circulated since the swap took place. What will become of the Taliban Leaders who were some of the most brutal men captured during the war is another issue that the administration apparently paid almost no attention to. Will they wind up on the battle field only to kill again?