Kerry Lutz's--Financial Survival Network

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? 

John Rubino reports. The European Central Bank tried something different. As Bloomberg reported:

The European Central Bank cut its deposit rate below zero and said it would announce further measures later today as policy makers try to counter the prospect of deflation in the world’s second-largest economy. ECB President Mario Draghi reduced the deposit rate to minus 0.10 percent from zero, making the institution the world’s first major central bank to use a negative rate. Policy makers also lowered the benchmark rate to 0.15 percent from 0.25 percent. The promise of further measures today “has stoked up hopes that the ECB is going to unleash a huge bazooka on the market in the press conference,” said Philip Shaw, chief economist at Investec Securities Ltd. in London. While he thinks that quantitative easing is “very unlikely” now, “it may well be that what the ECB just said is stoking up hopes that QE could be on the cards after all. ”

Emeka Iwenofu gotten bitten by the writing bug at a late age. But he didn't let that stop him from realizing his dream. He's gone on to self-publish 2 books of a trilogy. They're based on autobiographical characters who grow up in disadvantaged homes and triumph against all odds. Emeka is hoping to help others rise up just like he did. His story is incredibly inspiring. 

Our old friend Joe Messina and I discuss the alarming state of public schools in America today. Imagine a substitute teacher asking 9 year olds for dating advice, or a teacher getting suspended for showing a historical video about white actors wearing blackface, or a student causing a stir for drawing a picture of a cloud that resembled a gun. The list goes on and on. Oh and now there's warning labels on water bottles, so be very careful, the world's a very dangerous place. 

Jason Burack was back on the show after a long hiatus. He's deeply concerned about the state of the economy in the United States and the future of capitalism. As you might have guessed, Jason believes your best protection is precious metals, although there might be a crack-up boom along the way. Otherwise, if we keep moving at the current rate, the end result is clear. 

Ned Schmidt says ignore the Street and focus on commodities and precious metals. Paper wealth isn't worth the paper it's printed on. We're living in the Champagne Economy. China needs food so you better believe that the price of agi-commodities is going up. And they're hoarding gold and silver so they're going up as well. So your long-term investment decisions are pretty easy. 

Debra writes, "Americans seem content to stay put in their homes and that is bad news for homebuilders. According to a study from RateWatch, 81% of homeowners said they have no plans to purchase a different home. Less than 3% will be shopping for a home within the year. Why? They're happy with their house."

Woody O'Brien, newsletter writer and born again farmer answers the question why the economic system hasn't collapsed once and for all. In his opinion the thieves who run the system are masters at kicking the can down the road. That and the fracking boom in the energy patch have kept employment up and kept things seemingly normal. But Woody believes that the day will come when it stops working and when it does watch out!

Howard Davidowitz says that we're in an economic depression and have been for years. The government is lying to us and won't take the actions necessary to solve it. The solution will require everyone to share the pain. Eventually we won't be able to print anymore money and then it will be game over. He's telling you what you've been hearing on FSN for years. How much longer will it be? 

Are you on the NSA's target list? We might be and the same with you. There's been no way of knowing, until now or soon anyway. Snowden got a copy and it's going to be realeased by Glenn Greenwald on the site TheIntercept.com. Then we'll all know the truth about whom the government considers a threat and I believe the results will be shocking. We also discuss the truth about Fracking. You might be surprised. And there's more, so have a listen. 

Bob Hoye, keen student of historic past credit busts and booms, believes that gold is at or near its bottom and will now begin its long term move upward. Stocks and bonds conversely will begin their move down. Other than short term treasuries, things will be extremely difficult there. The US dollar should remain fairly stable in spite of the country's major problems, as there really is no alternative. 

Martin Armstrong isn't backing off of his prediction for a major stock market advance. The way he sees it, there's no place left to put one's money. He's not buying the bear case for the market. Not that he believes that the economy is doing well, quite the contrary, but rather it's a case of where else will the pension funds and big investors park their funds. There's no alternative and that's why the market is going to take off--big time! 

Alasdair MacLeod joined us for a recap of the most recent UK and EU elections. Looks like the debt slaves are getting quite restless. Guess they're getting tired of having what little wealth remains constantly confiscated. They're not impressed with having GDP adjusted upward with illicit activities like drugs, prostitution and gambling. They're looking for a real solution and they know that they're not getting it from the EU. The question is where will they find it? 

Here's Mickey Fulp's Monthly Major Market Review for May 2014:

Stocks markets still going up.

Gold down, silver down, platinum up, palladium up, copper up.

Energy-oil up, nat gas down, uranium down again.

Dollar up, Euro down, 10Yr yield way down, bitcoin way way up!