Kerry Lutz's--Financial Survival Network

John joined us today for our usual Monday show. What's happening in Virginia is related to the underlying financial deterioration of the economy and the middle class. When things are going well, people don't have time for demonstrations, they're too busy working and earning income. Events such as this are emblematic of an economic crisis. 

Bitcoin at $4200. Bitcoin cash at $300. How does it tie into the bad economy meme? Is this truly the birth of competitive currencies? Is Tulipcoin far behind? We've already gotten Bitcohen, the Israeli answer to crypto-currencies. 

Garrett Gunderson joined us today for a very enlightening discussion. He's an entrepreneur, financial advocate and founder of Wealth Factory. Garrett brings energy and excitement to debunking the many widely accepted myths and fabrications that undermine the prosperity and joy of millions of business owners.

He is the NY Times best-selling author of Killing Sacred Cows and more recently, What Would the Rockefellers Do? He’s appeared on TV shows including ABC’s Good Money, Your World with Neil Cavuto on Fox and CNBC’s Squawk on the Street — and his firm was named to the Inc. 500. Most importantly, Garrett makes personal finance for entrepreneurs simple, immediately actionable and even enjoyable.

The situation with North Korea shows no signs of resolution. But how much control does China have? It would appear they have a lot, but as in all Frankenstein situations, eventually the creator loses control of his creation. And you know what happens then, mayhem and destruction. But there's a lot more going on than this. Listen and and find out what's going to happen next. Oh, by the way, Bitcoin $4k and gold and silver are going up. Surprise!

Mike's been to China 5 times. While he doesn't know everything about product sourcing in China (nobody does) he feels that he's getting closer to mastery. The wholesale market we visited has gotten even bigger with 1.7 million products and 55,000 stalls. You get to see the products up close and personal and many vendors will even let you purchase samples. You find products at the market and then go back to the hotel where Mike and Matt help you analyze the products to determine the likelihood of profitability. 

We just moved our home, office and studio. Moving is the ultimate test of keeping your cool. You have to manage logistics, finances, interpersonal relationships and major stress. We managed to survive it and get everything up and running within a day. Most of you probably didn't even notice, but the new studio has a slightly different sound than the old one. 

North Korea, what will be? Is it all about China. We'll know soon enough. Just in case get your fallout shelter ready now. 

How Martha's Vinyard is adapting to the cutback in H2B visas to foreign seasonal workers. Are they hiring more Americans as a result? Good question to which MSN provides zero answers. Just remember it's always cheaper to higher a foreigner to do a job. 

Andrew Agemy is concerned about the retirement crisis. It's time to create your own pension plan if especially if employer doesn't offer one. Companies are getting rid of the traditional pension plans and fewer and fewer people are going to have a retirement income besides Social Security. Some will have 401(k) plans and other savings, but most won't have a guaranteed or promise income for their retirement.

It's not that people necessarily need $1 million or $2 million or $3 million at Retirement. What they need is a check to replace the check that has stopped now that they have stopped working. They may use that $1, $2, $3 million to help them do that but typically that won't be a promised or guaranteed income. Most often it means withdrawing from there Funds with no guarantees or promises - just hope.

There are things that people can do to guarantee themselves and income at retirement – creating their own pension. There are also ways to receive a promised income that they can count on although it's not guaranteed.

David believes that there's one explanation for Wall Street's constant gains, people love to gamble. It's always been that way and it always will be. They're not investing unlike the greats such as Warren Buffett. Breaking this addiction is crucial. It's the only way you can protect your assets. David believes that a return to fixed income investing is the only way to insure that your assets won't be dissipated. Time to reevaluate and change your investing behavior. 

What's Happening Wednesdays with Andrew Hoffman:

Wednesday's "most precious metal bullish quote ever<https://www.milesfranklin.com/the-most-precious-metal-bullish-quote-ever/>"

-Trump, re: weak dollar

Today's soon-to-be-released "DID I SAY YESTERDAY, THE MOST PRECIOUS METAL BULLISH QUOTE EVER? WELL, TRUMP TOOK JUST 24 HOURS TO TOP IT!"

-Trump, re: North Korea "fire and fury"

Yesterday's HUGE crypto event

-"Bitcoin SegWit Activation - the Gold Cartel's worst nightmare<https://www.milesfranklin.com/bitcoin-segwit-activation-the-gold-cartels-worst-nightmare/>"

All contributing to the premise of July 27th's "the most precious metal bullish I've ever been<https://www.milesfranklin.com/the-most-precious-metals-bullish-ive-ever-been/>"
Etc.

Our old friend Jeff Clark joined us today for a close look at the precious metals markets. Jeff, formerly of Casey Research, is now with GoldSilver.com, a place that suits him quite well. While the more things change, the more they stay the same, this time really is different. The political system has no ability to address and solve the current economic problems. In fact, the system is trying to do the opposite, by denying their existence and refusing to deal with existential issues. If that's not a reason to own gold and/or silver, then you need to rethink everything now. 

Michael Eastham is concerned that Consumer spending inched up just 0.1% in June
Americans increased spending in June by the smallest amount in five months, partly because it cost less to fill up at the gas pump.

Consumer spending rose 0.1% in June, matching the smallest increase of 2017, the government said Tuesday. That was in line with the Marketwatch forecast of economists.
Income growth and inflation, meanwhile, were unchanged.

Despite a stable economy and the best labor market in years, Americans remain cautious spenders. Still, they are spending more than enough to sustain an economy now in its ninth year of expansion and encourage businesses to hire more workers.

Households spent more on health care in June, but they saved on gasoline because of cheaper prices at the pump.

Lower inflation is giving Americans some extra cushion.

The PCE index, the Federal Reserve’s preferred inflation gauge, was flat in June. What’s more, the 12-month rate of inflation stood at 1.4%, down from 2.2% earlier in the year.

Inflation had surged in 2016 and early 2017 to an eight-and-a-half year before leveling off. Slower inflation has prompted the Federal Reserve to reconsider when it next raises interest rates.

Most analysts believe the central bank will wait until December.

U.S. futures markets pointed to a higher opening for the Dow Jones Industrial Average DJIA, +0.28%

Ivan Eland joined us today to talk about the latest North Korea developments. Seems like there's always trouble in this workers' paradise and the US just doesn't know how to handle it. Ivan thinks that Trump is just doing more of the same as did Obama, Bush and Clinton before him. Will the recent stiffened UN sanctions be enough to make a difference? How mad is Kim Jong Un really? All good questions for which we have no answers. 

A little more than a decade Keith Weinhold started his real estate empire. He bought a quad and lived in one of the units for three years. He kept buying and buying. There's many benefits to real estate investing, cash flow, tax reduction/deferment, 3rd party debt pay down, inflation hedging and of course the possibility of appreciation. These factors literally turbo-charge your returns and its why Ken keeps buying properties. In hind sight, Ken believes he didn't take one risk minimizing step, geographical diversification. Don't keep all your eggs in one basket. 

Illinois has over 63,000 government workers (an oxymoron) making over 100k per year or more. This is a prescription for disaster. And they're going to receive pensions based upon these bloated salaries. Something has to give. The courts won't let them cut the pensions without a constitutional amendment. What's a taxpayer to do? Move out, and more and more of them are doing exactly that. Especially after the 1/3 tax increase that was just passed over the governor's veto. 

New Orleans has flooded again. No Cat 4 hurricane this time, just good old fashioned torrential rains. The city's 24 pumping stations just can't keep up with it. Very reassuring when you consider they're only 1 hurricane away from another Katrina type event. I thought the billions in tax dollars were supposed to stop a repeat performance. 

Time to stop subsidizing Elan Musk and the Tesla Car Company. The average Model X buyer makes over 500k and the average Model S purchaser is good for over 250k. Is that where we want our tax dollars going? 

And finally, LA County spent over $1.3 billion on welfare for illegal aliens! California spent over $25 billion in 2013 and you can be sure the total is much higher now. Is this any way to run a state? Heading for insolvency just like the rest. 

They're out to get Trump. They couldn't beat him in the election and they're probably not going to be able to do it now. While the White House might look chaotic now, it's really not going to make a difference in the long run. Wayne believes Trump should fire Meuller and take the consequences. He's really got nothing to lose. How it will actually wind up is anyone's guess. 

The Millennials certainly have their issues. Thus far they've avoided things like houses, autos and equities. Now they're piling into equities and RV's. Is this the ultimate contrarian indicator that's now time to flee the markets and anything with wheels on it, including tricycles? 

Ed Karr, is president, CEO and Chairman of US Gold. A new FSN sponsor, he's extremely bullish about the price of gold and the company's ability to leverage its three projects to capitalize on it. Ed's been in mining for decades and believes that the current policies being followed by governments around the world will have two definite results, currency debasement and higher precious metals prices. The company has two projects, Keystone and Gold Bar in Nevada's Famed Cortez Gold Trend. Infrastructure here is first class and all indications are that these could be extremely productive and profitable. In addition, there's the Copper King project in Wyoming. A PEA has already been done and Ed is planning to advance the project through a Pre-Feasibility Study and permitting strategy, and then continue to expand upon the current 1.5 million ounce gold equivalent resource. If things keeps going right for US Gold, there's a very bright future ahead. The stock is traded on the NASDAQ and the catchy symbol is USAU. 

Robert Spencer wants to know how much longer are we going to let our freedom of speech dissipate?

Unfortunately, the progressive campaign to limit what you can read, say, and think about radical Islam has only just begun. New York Times bestselling author and director of Jihad Watch Robert Spencer is putting an end to the silencing.

His eye-opening new book, The Complete Infidel’s Guide to Free Speech (and Its Enemies), exposes the dangerous and disturbingly successful campaign that aggressive Muslims and their appeasers have mounted against free speech in America, and gives you the information and tools you need to fight back.

Last month most stock markets were up. Emerging markets were up  5.6%. Dollar down again nearly 3%. Euro was up 3.6% and Bitcoin was up 14.8%. Metals had a good month with copper up over 7%. Energy was up with WTI adding nearly 9%. Natgas down 6.6% and Uranium was flat for the month. Silver to gold ratio is over 75. Platinum is still a depressed .74 to gold. Let's see where August goes. It definitely wasn't sell in May and go away. 

What's Really Happening Wednesdays with Andrew Hoffman:

Deflation fears causing Central banks to give up on last month's "hawkish bluff" already

Perfect monetary storm coming THIS YEAR

Fiat Currency as archaic as "stocks and bonds" - all will be swept out by Crypto-currency

However, due to today's soon-to-be-published article, "immutability and timelessness in the dawning of the Fintech Age"...

...and last week's "co-existence of scarcity assets"; gold will be just as valuable in the

Star Trek monetary age as the Flintstones monetary age of today

Etc.

As John says, big toy sales are generally an indication that the business cycle is peaking. RV sales are currently at record levels. They've almost gone parabolic. Millennials are buying them because they can't afford houses. This means we're pretty close to a peak and many of these RV's will come back on the market. It could be a very good time to wait two years and snap up the bargains. Housing prices appear to have peaked as well. It's a good time to put those big purchases on hold. Financial history is sure to repeat itself unless this time is really different.