In this discussion, Joe shares his suspicions about Sarao (a contributor to the crash, but highly unlikely to be the actual cause) and then provides his expert assessment of what has been done in the intervening years since the flash crash to safeguard the market against a similar failure (precious little). In his opinion, a winner-take-all high-tech arms race, clueless and toothless regulators, and central bank price distortion are conspiring to make us more vulnerable -- not less -- to another systemic breakdown.
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https://www.youtube.com/watch?v=MWMcgCsr0hM
Read the full description at: http://www.peakprosperity.com/podcast/81072/alasdair-macleod
From his perch in the United Kingdom, Alasdair Macleod provides an update on the ongoing economic crisis in Europe, which -- while largely absent from headines in the US of late -- continues to worsen.
Due to bloated state-run programs and extreme malinvestment, EU governements find themselves in a box. Economic growth has stalled, and no amount of intervention seems able to get it going again. So in order to keep their economies moving forward, they are becoming increasingly rapacious in extorting tax revenues from whereever they can find them.
This, of course, is strangling the private sector -- on which the government is counting on to grow the EU out of its recession (or depression, depending on which country in which you live). And so a vicious cycle ensures. Growing taxation reduces economic activity, unemployment worsens, the wealthy expatriate -- all leading to a declining income base to tax, and growing civil unrest.
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https://www.youtube.com/watch?v=GzD4MDBDeTk
SCHEDULE YOUR FREE PORTFOLIO REVIEW with a financial professional who appreciates the role gold & silver should play in your investment plan: https://www.greylockpeak.com/
Tom Burns, orthopedic surgeon turned successful entrepreneur and author of the new book Why Doctor's Don't Get Rich, explains why so many people -- not just doctors, but professionals of all stripes -- feel trapped in their careers, a slave to their paycheck.
And he shares his formula for helping them build financial independence while still maintaining their day job.
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https://www.youtube.com/watch?v=v26STN4Utf8
As usual, we asked for questions and you delivered in spades.
In today's podcast, Chris and I are joined by Chris' wife, Becca, in answering a number of the questions posed on this site this week.
We address:
- Chris' updated forecast of a steep market decline by September
- Home resilience advice
- What exactly happens at the Peak Prosperity seminar in Kripalu
- How to share the message of the Crash Course with children
And, no surprise, we had many more questions than time to answer them. We'll release a second podcast later this week digging into the remaining ones.
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https://www.youtube.com/watch?v=f-JLEuLpDrI
Read the latest articles at Peak Prosperity: https://www.peakprosperity.com/
New Orleans Investment Conference - Oct 25-28, 2017
https://www.peakprosperity.com/blog/111023/join-us-new-orleans-oct-27th
Peak Prosperity Advanced Seminar Course: Developing Your Emotional and Social Capital https://www.peakprosperity.com/event/109866/peak-prosperity-advanced-seminar-course-developing-your-emotional-and-social-capital
Better A Year Early Than A Day Too Late
https://www.peakprosperity.com/blog/110293/better-year-early-day-too-late
View the "Accelerated" Crash Course Here: https://www.youtube.com/watch?v=pYyugz5wcrI
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https://www.youtube.com/watch?v=cATsrb3-7wc
This is Part 2 of our podcast with social activist Mark Morey. (Part 1 can be heard here: https://www.peakprosperity.com/podcast/107602/mark-morey-cultural-capital-part-1)
Much of society's ills can be resolved through changing our behavior. Native populations are a rich resource of wisdom in doing so, as they had to address many of these same problems centuries ago. The question is: Will we take the time to listen?
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https://www.youtube.com/watch?v=lEQrrCwccRs
Full description and comments at: http://www.peakprosperity.com/podcast/98829/rana-foroohar-how-wall-street-strangling-economy
This week, Chris interviews Time Magazine assistant managing editor and economic columnist Rana Foroohar about the findings within her new book Makers and Takers: The Rise of Finance and the Fall of American Business.
Eight years on from the biggest market meltdown since the Great Depression, the key lessons of the crisis of 2008 still remain unlearned — and our financial system is just as vulnerable as ever. Many of us know that our government failed to fix the banking system after the subprime mortgage crisis. But what few of us realize is how the misguided financial practices and philosophies that nearly toppled the global financial system have come to infiltrate all American businesses, putting us on a collision course for another cataclysmic meltdown.
Drawing on in-depth reporting and exclusive interviews at the highest rungs of Wall Street and Washington, Foroohar shows how the “financialization of America” — the trend by which finance and its way of thinking have come to reign supreme — is perpetuating Wall Street’s reign over Main Street, widening the gap between rich and poor, and threatening the future of the American Dream.
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https://www.youtube.com/watch?v=z0VCkN3ixRQ
In a country where insolvent states increasingly compete for Federal funds, Utah is bucking the trend. And in the process, it's showing the type of leadership this nation will need more of to deal with its national economic plight.
A recent slew of new legislation has been passed -- collectively known as the Financial Ready Utah (FRU) initiative -- to assess the State's greatest financial vulnerabilities and to identify the most promising programs for addressing them at the state, community and household levels. As a result of its earthquake prone geology, Utah has developed a robust state-wide disaster-response system. The FRU initiative prudently asks: Shouldn't we also have a financial-earthquake preparedness program in case of another 2008-style (or worse) economic shock, which the math indicates is more than likely?
In this week's podcast, Chris talks with two of the driving members behind Financial Ready Utah, Representative Ken Ivory and CPA Dan Griffiths. Representative Ivory started the initial momentum behind the new legislation by pushing for a first-ever audit of the state's receipts of Federal funds, essentially asking each state agency: How much Federal money do you receive each year?
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https://www.youtube.com/watch?v=gTxM4GxwFoc