Everyone wants to knows what the election of Donald Trump foretells about the economy and the markets. However, going just a little deeper, I'm fascinated with the events and authors who have been foretelling of the success of Donald Trump. Because it seems to me that if you really understand those forces - the precursors that would have brought about Trump or somebody else in his place, then I figure I can better understand the inevitable outcomes.
In doing so, I have been digging into the work of 2 of my favorite authorities, starting of course with my friend, NY Times Bestselling author and renown market forecaster, Harry S. Dent. Harry has been analyzing the likelihood of President Trump at least since last June, 2016 when he published a brilliant infographic, 7 Startling Reasons Why ‘The Donald’ May Become President Trump.
And as ironic as it may sound to have elected a billionaire as a solution, the cause essentially comes down to the global "Wealth Gap", and the fact that any recovery we may have seen since the Great Recession of 2008, has by far more greatly benefitted the wealthy and Wall Street, than it has the average american worker. And this very situation also generated the push on the far left with Bernie Sanders.
As I had been digging on this, Harry further articulated the big picture about this in his October publication of The Leading Edge, with his article of the same title as this blog and our most recent Straight Talk Wealth Radio episode. CLICK HERE to download my copy. (It's a subscription publication, but I figure Harry won't kill me for making it available when it's two months old and I'm imploring you to subscribe, for your own benefit!)
You can also order a free copy of the entire uncut interview on CD if you CLICK HERE. (Just pay shipping costs).
I just started reading Stockman's brand new book, (it's WAY LESS of a monster than his previous 2 1/2 lb 750 page The Great Deformation), entitled, TRUMPED: A Nation on the Brink of Ruin and How to Bring It Back. And if you think Stockman is a big trump fan, you will be sadly disappointed. Don't forget, Stockman was the Director of the Office of Management and Budget under the Reagan Administration, and had the damn gumption to tell President Reagan that he too, like the later George w Bush, we spending like Democrats while taxing like Republicans - sure to bring the explode the National Debt and bring the country to it's knees.
He's been on the news quite a bit lately promoting his new book, but I thought I'd sign off this post with a video of his recent appearance on Fox Business News and one that I took a portion of and presented on our recent episode.
BUT HEY! Keep coming back to the blog. Every time we produce a new show I have some background on it here. Let's keep this going, ok?
Former OMB Director David Stockman on why he thinks some of President-elect Donald Trump's economic policies are a 'fiscal nightmare.'
Posted on 12/02/2016 at 09:00:00 PM
Why is my portfolio crashing? Why has this decade been so darn rough to grow any kind retirement fund at all?
Well, there’s the Greek Crisis. Sure, okay. I guess so. It’s Greece’s fault.
But before that there was the Debt Cieling Crisis. Oh there ya go! It’s the Democrats’ fault. No, uh – it’s the Republicans’ fault.
And before that it was the banks’ fault for the Housing & Credit Bubble. And before that it was Silicon Valley’s fault for the Dot.Com Bubble.
And tomorrow it will be the Federal Reserve Bank’s fault for printing money, or China’s fault for having the worlds biggest real estate bubble.
All just random occurences in our life and times with no rhyme or rea...Read more
Posted on 12/02/2012 at 12:00:00 AM
WHAT? Haven’t the Central Banks of the world committed to printing enough fiat money to keep us all out of this abyss? No! In fact, the WSJ report actually enlarges on the fact that it was the very fixes by Central Banks (ECB, U.S. Fed Reserve, Bank of Japan, etc) that have exacerbated the coming Recession, and complicated any potential to offset it like the last time.
This show features and extensive interview with N.Y. Times best-selling author and economist, Harry S. Dent, and also examines the foretelling specter of “Ghost Cities” in China.
For Los Angeles area listeners, you will learn about a great opportunity from Straight Talk Wealth Radio to participate in our local rendition of Harry Dent’s Demographic ...Read more
Posted on 10/21/2012 at 12:00:00 AM
Wall Street Journal Reports, “Home prices notched their strongest year-to-date gains since 2005, climbing 5.9% through July and signaling the housing market’s steady trudge toward recovery.” (Sept, 25, 2012)
In this episode of Straight Talk Wealth Radio, I interview two outstanding guests on the matter:
Economist, Rodney Johnson: President of Harry S. Dent Enterprises. Rodney speaks in detail about how the new real estate opportunities will be different than the real estate boom and bust of ’02-07, and some hidden land-mines in the current economy that could challenge the real estate recovery.
Who is best positioned to play the game this time, and who would likely lose? Will real estate simply be another asset your portfolio allocation, or will it be a full-time job, not for amateurs? Rodney discusses all of this with me in the first half of the show.
Self-made millionaire and real estate investor, Grant Cardone: Born into modest means, Grant’s father died when Grant was 10 years old, and his mother, who could not even balance a checkbook, was left to care for him and his siblings. From these humble roots Grant Cardone has become a multi-millioniare from a combination of building businesses and investing in multi-family real estate.
In this searching interview, I prompt Grant to discuss what has set him apart to be a big success in business, when so many fail every year, and how Grant went about balancing income from working, and income from investing. It is an inspiring tale that reminds us that life can be tough, and only real tigers make it to the top.
PLUS – A VERY SPECIAL BONUS FOR LISTENERS: Listen to the show and learn how you can acquire an invaluable tool from Straight Talk Wealth Radio for free – The Real Estate Investment Analyzer! This all-purpose spreadsheet can help you analyze any residential real estate deal for:
Cash Flow: How much net income will the property produce in 5 years, 10 years, 20 years, etc.?
Equity Growth: Given pay-down of the loan and inflation of the property values, what will your investment be worth through the future?
Exit Strategies: Rarely understood by new investors until they’re decades in to the property, is the “1035 trap”. When investors often find that their cash flow can be inadequate to support their retirement lifestyle, they may have more than enough money for retirement trapped in the equity. However, the IRS lays claim to a big portion of those values if you try to tap into them. With this analyzer you can predict in advance how much of your investment growth you will own and how much the IRS will own as your silent partner. In this way, you can begin to strategize from the very beginning of leveraging IN to a property, what plans you should make for exit strategies and liquidity further on down the road. (Has a special link to help you learn how to avoid the 1035 trap and defer capital gain taxes.)
Listen to the show, then click here to request your FREE Retirement Roadmap study and Real Estate Investment Analyzer tool. Please note: The Real Estate Investement Analyzer tool will be made available to you when we deliver the Retirement Roadmap study. To learn more about our signature Retirement Roadmap study, see this article.
Posted on 10/09/2012 at 12:00:00 AM
General Motors’ employees have a problem. A BIG problem.
Over 42,000 were notified before the beginning of the summer that GM’s promise to pay them a lifetime income upon retirement (once known as a “pension”) was being CANCELLED! And they all had less than 60 days to decide what they wanted to do about the next 25-40 years of their lives. Their choices were:
“Take a lump sum payout – and then YOU decide how to make it last.”
“Take a guaranteed lifetime income, by means of an annuity through Prudential Life.”
Now, guess what? Each and every one of YOU will be faced with the very same choice no matter what you do for a living, or your station in life!
In this show, What’s Wrong with Annuities? Part 1, host Bruce Weide explores the pro and cons of Guaranteed Income vs. Managed Income in retirement for working American Baby Boomers, and why literally more than 35 billion dollars of GM and Ford obligations are set to move out of the hands of Wall Street money managers, over to the American Midwest (known as the “insurance belt”) actuarial statistic geeks at life insurance companies.
What do the big car makers know that you haven’t been told… about the biggest threat to retirement this country will ever face, beginning by the end of this decade?
In this show:
Challenging Interviews with:
Michael Tove, CEP, RFC, author of renowned financial industry study, Financial Safety Comparison: Bank vs. Insurance Company Deposits
Kim O’Brien, President & CEO of the National Association for Fixed Annuities
Hear how Bruce weaves together The Ultimate Income Plan, featuring:
Safe alternatives to Banks and the Stock Market that can guarantee growth rates up to 7-10% (under certain terms)!
Guaranteed lifetime income for you AND your spouse!
Long Term Care needs built into a pension – Double your income for an event of Long Term Care.
Inflation Protected Income - up to 10% per year cost of living adjustments.
As a listener to Straight Talk Wealth Radio, we are offering you this complete show on CD – click here to order this limited offer. As a bonus, we will also include a DVD with “Historic Rates of Return – Wall Street’s Dirty Little Lie”, and “What is a Retirement Roadmap?”
Posted on 09/19/2012 at 12:00:00 AM
Clearly, the world’s sovereign governments* are either bursting with debt now, or they are frantically absorbing the debt liabilities of their private sectors, or even other countries. Understandably, mindful people are today speculating what could happen if major European countries, and yes…the US eventually simply cannot pay their debt obligations and the World goes BANKRUPT!
The most common answer you hear today is, “Buy gold & silver because monetary denominations will become meaningless in the face of hyperinflation.”
Straight Talk Wealth Radio Host, Bruce Weide, doesn’t disagree with the distinct possibility of the premise, and in this show he goes on a search to find out if there is any reason at all to not buy into the proposed solution.
IS Gold the ultimate answer?
What are the different possible scenarios that could play out when the world goes broke?
For this show, Bruce obtained an exclusive interview with economist and N.Y. Times best-selling author of “The Great Crash Ahead,” Harry S. Dent, and together they explore the possibility of global debt failure and the range of possible outcomes.
Two options to hear the show – listen using our online player, or order the CD package to listen in your car or on the go.
* (sovereign = a separate and unique country, not a dependent of a mother country. The US and UK are sovereign countries, whereas Bermuda and Guam are dependent on the UK and US respectively.)
You’ve heard the hype about gold – now get the straight answers! This show is so important we are offering it to listeners in CD format (a 3-disc package). The entire show commercial free is included, as well as the complete uncut interview with recognized economist Harry S. Dent. Bonus DVD included: video of “Historic Rates of Return: Wall Street’s Dirty Little Lie” and “What is a Retirement Roadmap?”. Get the information you need to make sound investment decisions – order the 3-disc package now.
Posted on 08/20/2012 at 12:00:00 AM
Once in a while we have a show that is so popular it deserves to be aired more than once. This is a Straight Talk Wealth Classic.
This show features an interview with economist Harry S. Dent regarding his book “The Great Crash Ahead: Strategies for a World Turned Upside Down”. We discuss the economic and financial future of America, and how you will be affected by European Debt and the China Bubble. Find out when things will turn around, and what our government needs to do now to get America back on a strong economic footing.
Posted on 08/17/2012 at 12:00:00 AM
Just your luck. You’ve been trying to save for retirement or just build wealth over the last 12 years, and you couldn’t have picked a worse time.
Consider the challenges we’ve faced as an economy:
* The bursting of the Tech Bubble in 2000
* The terrorist attacks of 9/11
* The housing boom of 2003-2007, followed by the biggest bust since the Great Depression
* The continuing repercussions of the debt bubble; from chaos in Europe, to an American economy addicted to stimulus
13 years of lost growth potential on your savings is no small setback!
How can most Americans even dream of a secure retirement if the next 10 years looks like the last 10 years?
Yes, the rules have changed! But, if you take the time to learn the new rules, you CAN win in the coming decade, and make it safely and securely to your goals.
In this show, Bruce Weide, host of Straight Talk Wealth Radio, thoroughly reviews the new risks exclusive to this decade, and explains the new rules to successfully navigate these risks for building wealth dependably and securely.
It’s not your fault. Someone changed the rules on you! But it’s NOT TOO LATE, if you learn the new rules NOW. They’re simple. But they’re new and they’re different. And no one taught you this in school.
Posted on 07/22/2012 at 12:00:00 AM
How old will you live to be? That’s the million dollar question. With people living longer and the advances in medical technology, how can you plan your retirement and guarantee that you will have enough money to last the rest of your life?
Imagine you are retiring in the next year. Does your retirement plan increase with inflation? Will you be able to live on what you are making today, 10 or 20 years down the line? Bruce Weide and special co-host Michael Rossi will discuss these issues and provide valuable information on how to make your money last a lifetime — guaranteed!
It is time to step away from the volatility of the market and to stop gambling with your retirement savings. Your retirement years should be a time to relax and to enjoy the fruits of your labor. Wouldn’t you love to have financial stability and peace of mind during the best years of your life? Listen to this show and find solutions to a guaranteed future.
Posted on 07/15/2012 at 12:00:00 AM
In this article I want to address an issue that I truly believe is the most important issue all of us will face in the 2010s. It is an issue that goes to the very heart of financial planning. The issue is whether our personally accumulated U.S. Dollars will become worth more as a global currency in the foreseeable future or in fact become altogether worthless as a monetary system by the end of this decade.
You could buy all the stocks and mutual funds you want in the 2010’s; buy all the best foreclosure real estate, stock up with piles and piles of all the gold and silver you want. But I’m telling you, if you call this shot wrong – Inflation of Deflation – your plans could all be for naught.
key questions of concern YOU should be asking in protecting your own security are:
How do inflation and deflation vary in their causes?
How would life in America be different under scenarios of severe inflation or deflations.
Who would be the financial winners and who would be the losers in each scenario?
John Kenneth Galbraith (October 15, 1908 – April 29, 2 006) was one of the leading chroniclers of the Stock Market Crash of 1929 and the Great Depression of the 1930s. As Galbraith described in a 1970’s filmed documentary:
“I don’t suppose there’s ever a time when the desire to get rich doesn’t operate in this republic. But there certainly was a mood that Americans were meant to get rich sitting down by putting their money in the stock market. And then you had, from the beginning of the mid-twenties on, an accelerating wave of speculation which then became self-perpetuating. The market was going up and the expectation for it to go up more caused it to go up more.
“But then come the day when something changes those ex pectations, and everybody wants to get out. And that is not a matter of weeks or months, that’s a matter then of days. The crash comes very fast.”
Sound a little to familiar? Maybe a little like the real estate and credit bubble crash of 2008?
The common denominator of a deflationary period is that money has dried up, typically due to a prior extended period of over-speculation. And the deeper the prior mania went, dragging with it larger and larger institutional interests that “drink the Kool-Aid”, the more it is likely that credit and available cash go dry as a bone, to boot.
In either case the big seizure that hits everyone in the economy is that banksfail. First they fail to keep depositors’ funds secure. (Don’t forget the FDIC, set up from the lessons of the bank runs of 1929, did not save bank depositors’ money in 2008. Given the scope of this failure the FDIC would have been totally impotent. Rather, banks were kept standing by a whole new act of Congress, the $700 billion Troubled Assets Relief Program [TARP].)
The next thing that happens, if not simultaneously, is that the stock market along with other investment markets crash so that people thereby lose their savings and personal wealth, sometimes faster than they can even think about what’s going on.
Quickly a downward spiral picks up momentum across almost all investment sectors.
Soon, retailers and wholesalers find themselves holding stockpiles of goods they can’t sell to people with no jobs. In fact the only way they can even think of moving goods is to lower their prices. Seems like a good thing, unless you happen to work for the guys cutting their prices, who now need to cut your wages to make up for their losses. And so pretty soon, you either don’t work, or you too become the next victim of wage deflation. But at least you have a job! Deflation is generally marked by massive unemployment.
Those holding substantial wealth in cash, and not in the banks that might fail. By “substantial”, I mean that if jobs do not come back again for quite some time, they will survive without work.
Those who have been left holding their wealth in hard assets that have caved in on value, such as real estate or stocks. Their wealth is gone.
Those who need to work and earn a decent wage to keep a roof over their head.
Posted on 07/09/2012 at 12:00:00 AM