Kerry Lutz's--Financial Survival Network

We connected with economist Steve Keen who unlike most practitioners of the dismal science actually proposes solutions that might even work. As almost anyone will tell you, the world economic system is a mess. There's way too much debt and not enough equity. Steve proposes paying everyone in the US a fixed amount of money. For those in debt, it would have to be used to pay it down. Those few among us who are solvent would use it to buy shares in companies who would be required to pay down their debt. It might not be practical but there's a certain sense to it. And in any event, it sure beats QE. 

The stock markets are in transition from ABB (Always be buying) to ABS (Always be selling). Unfortunately there's going to be a lot of collateral damage along the way. Even if the markets don't decide to finally come down now, it's a certainty that that day is coming soon. So why not get out ahead of the cycle for once? If you're in cash, you'll be king and all sorts of great companies will be wildly  discounted when that day finally arrives. 

Heather joined us again to talk about the FBI scam. Scammers got a hold of the FBI's identity theft reporting data base. Then they started a sophisticated campaign to convince those already victimized people to disclose financial information and scammed them yet again. The people thought they were communicating with the FBI, because the scammers already had all their info. Very sophisticated and very effective.