Podcasts about Chief economist

Christopher McGratty, Head of US Banking Research at KBW, a Stifel company, discusses how another rate hike could be a tipping point for banks. Lizzie Evans, Managing Partner at Evans May Wealth, talks about investment strategies and markets in 2022. Vince Cignarella, Global Macro Strategist with BBG News, joins the show to discuss his stance on the Fed and why he doesn't believe they should be as hawkish in curbing inflation. Hugh Johnson, Chairman and Chief Economist of Hugh Johnson Economics, joins the show to discuss the economy after softer-than-expected inflation data came out this week. Daphne Zohar, founder and CEO of drug developer PureTech Health, joins the show to discuss the industry, big pharma, and her experience founding a drug developing company. Hosted by Paul Sweeney and Matt Miller.See omnystudio.com/listener for privacy information.

In this Real Estate News Brief for the week ending August 6th, 2022... the Fed's next move, a mortgage rate rollback for home buyers, and a new all-time high for single-family rents.Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.Economic NewsWe begin with economic news from this past week. Federal Reserve policymakers say they are “nowhere near” the end of their fight against inflation. Four Fed Presidents spoke out on Tuesday, August 2nd, about their resolve to get inflation back down to 2%. San Francisco Fed Chief Mary Daly said that she is currently seeing a 50 basis point rate hike as appropriate in September, but she says: “If we just see inflation roaring ahead undauntedly, the labor market showing no signs of slowing, then we'll be in a different position where a 75-basis-point increase might be more appropriate.” Comments from the other three Fed Presidents were similar. (1)And then there was a screamingly strong jobs report a few days later. The Bureau of Labor Statistics reported on Friday that hiring in July exceeded expectations. Nonfarm payrolls were up 528,000, and the unemployment rate dipped lower, to 3.5%. To put this in perspective, in the years leading up to 2020 when the economy was robust, job creation was closer to 195,000 per month on average.The unemployment rate is now back to its pre-pandemic level. As reported by MarketWatch, it's tied for the lowest level since 1969. (2) Some economists see the strong jobs report as signs that the Federal Reserve will lean toward a more aggressive rate hike in September. KPMG Chief Economist Diane Swonk said in a CNBC report: “This is hot. For the Fed, this is another 75 basis point hike.” (3)The unemployment report shows a slightly elevated level of new claims. During the last week of July, 260,000 people applied for benefits which is an increase of 6,000 from the week before. The number of continuing claims was also higher by about 48,000. That brings the total number of continuing claims up to about 1.42 million, which is the highest level since April. (4)A new report on home price growth shows that year-over-year prices were up 18.2% in June. On a month-to-month basis, the CoreLogic report says they were up .6% for the 125th consecutive month of higher prices. This is more inflationary news that may convince the Fed to be more aggressive with rate future hikes. However, the report does shows that price growth is slowing down. CoreLogic expects it to drop to 4.3% by next June. (5)Higher home prices also increase homeowner equity. CoreLogic says the average borrower had $280,000 in home equity at the end of the first quarter. That's a gain of about $64,000 over the past year, and a gain of about $125,000 over five years. (6) Those folks expecting a housing crash will have to consider why homeowners with so much equity and low fixed rate mortgage payments would suddenly abandon their homes. Higher home prices are slowing sales, and that's driving up inventory levels, but they are still nowhere they need to be. According to Realtor.com, active listings are about 30% higher than they were a year ago but are less than half of what they were in June of 2019 and about two-thirds of where they were in June of 2020. The good news is that homebuyers have a few more homes to choose from and a little extra time to make a decision, but only a little extra time. The Realtor.com trends report says that homes are spending just ONE extra day on the market compared to last year.(7)New home builders are also experiencing a sales slowdown and higher inventory levels. According to the Federal Reserve Bank of St. Louis, there are more than nine months supply of newly-built homes on the market. However, it can be difficult to gauge new home inventory because many of those homes are experiencing construction delays and not sales delays. (8)Another sign of the housing market slowdown is a sharp drop in construction spending. The Commerce Department reported a 1.1% decrease in June. Private residential construction took the biggest hit. It was down 1.6%. (9) Ironically, the construction of new homes is what's needed to increase supply, yet builders are generally the first to get hit with higher interest rates. A slow down in new home construction could mean continued bidding wars on existing homes in growth markets.Mortgage RatesHome buyers are getting a break right now on their mortgage rates. Freddie Mac says the average 30-year fixed-rate mortgage dipped below 4% for the week ending August 4th. They dropped 31 basis points to an average of 4.99%. The 15-year dropped 32 points to 4.26%. Freddie Mac's Chief Economist, Sam Khater, says: “Mortgage rates remain volatile due to the tug of war between inflationary pressures and a clear slowdown in economic growth.” (10)You may be wondering why mortgage rates have gone down when the Fed fund rate is going up. Mortgage rates are generally tied to the 10-year Treasury as mortgage backed securities attract the same type of investor. With the Fed raising rates aggressively, big investors are worried it will create a recession, so they seek the safety of bonds and MBS's. These investors also may believe that we've hit a peak in inflation. Otherwise they would invest in inflationary stocks instead of bonds. In other news making headlines... Single-Family Rent GrowthDemand continues to grow for single-family rentals as more and more potential homebuyers are priced out of the market. And that's pushing rents higher. A new report from Yardi Matrix says the average single-family asking rent rose $23 in June, to an all-time high of $2,071. (11)Rent growth is slowing for both single-family and multi-family rentals. The report says that year-over-year single-family rent growth has dropped 90 basis points, to an annual rate of 11.8%.House Approves Remote NotarizationThe U.S. House approved legislation that would make remote online notarizations possible in all 50 states. The bill will make it easier to close a deal without having the notary and the person signing the agreement in the same room. During the pandemic, agents in many states had to arrange for drive-by closings, with social distancing. (12) The pandemic also inspired almost half the states to allow for remote notarizations. The National Association of Realtors pushed for a national bill to support the demand for virtual sales and closings in all 50 states, even though there's less concern now about pandemic-related safety measures. The bill is now pending consideration in the Senate. That's it for today. Check the show notes for links at newsforinvestors.com. I would also like to share some other exciting news. Within the last few weeks, we hit a big milestone for Real Estate News for Investors. It's been six-and-a-half years since our first news podcast, and we have now posted our 1200th show! We are currently posting two or three podcasts a week for real estate professionals. Set your podcast player to have them automatically downloaded, so you don't miss any! And please remember to hit the subscribe button, and leave a review!Thanks for listening. I'm Kathy Fettke.Links:1 -https://www.bloomberg.com/news/articles/2022-08-02/daly-says-fed-nowhere-near-done-on-curbing-high-infation-rate2 -https://www.reuters.com/markets/us/feds-daly-34-reasonable-place-get-by-year-end-rates-2022-08-03/3 -https://www.cnbc.com/2022/08/05/jobs-report-july-2022-528000.html4 -https://www.marketwatch.com/story/u-s-unemployment-claims-climb-to-260-000-and-stick-near-nine-month-high-11659616784?mod=economy-politics5 -https://www.corelogic.com/intelligence/u-s-home-price-insights/6 -https://www.corelogic.com/intelligence/podcast-vodcast/oce-monthly/homeowner-equity-reached-record-level-in-early-2022/7 -https://www.realtor.com/research/weekly-housing-trends-view-data-week-july-30-2022/8 -https://fred.stlouisfed.org/series/MSACSR9 -https://www.marketwatch.com/story/construction-spending-fell-sharply-in-june-11659363237?mod=economic-report10 -https://www.freddiemac.com/pmms11 -https://rentalhousingjournal.com/average-rents-rise-to-all-time-high-in-june/?utm_source=Master+Vendors&utm_campaign=a590da3d77-EMAIL_CAMPAIGN_2022_07_20_02_10&utm_medium=email&utm_term=0_4780df7d33-a590da3d77-11392877312 -https://magazine.realtor/daily-news/2022/07/28/remote-online-notarization-is-one-step-closer

Vince Cignarella, Global Macro Strategist with Bloomberg News, discusses the July CPI report. Lindsey Piegza, Stifel Chief Economist Lindsey Piegza, discusses CPI and the economy. Keith Krach, former Under Secretary of State for Economic, Growth, Energy, and the Environment, and founder of Krach Institute for Tech Diplomacy, discusses the supply chain and economy as well as semiconductor production in the US. Jeffrey Cleveland, director and Chief Economist at Payden & Rygel, talks about the economy, inflation, and whether or not we're in a recession. Rob Barnett, Senior Analyst with Bloomberg Intelligence, discusses energy prices, CPI, and the Inflation Reduction Act and its impact on energy. Hosted by Paul Sweeney and Matt Miller.See omnystudio.com/listener for privacy information.

We have a quick news update on today's inflation report. Investors have been waiting anxiously to see if inflation hit a peak in June and is now headed down, prompting the Fed to slow down on rate hikes. Well, we have good news. The report on the Consumer Price Index, or CPI, shows a bigger-than-expected decline in July. It shows that the annual rate of inflation dropped from 9.1% to 8.5%. Economists surveyed by Dow Jones had expected a reading of 8.7%.Hi, I'm Kathy Fettke and this is Real Estate News for Investors. If you like our podcast, please subscribe and leave us a review.The decrease was mostly due to a big drop in gas prices. The report says the gasoline index was down 7.7% which offset a rise in food and housing costs. When you look at the broader category of energy, that was down 4.6% because of a drop in gasoline and natural gas prices, but the index for electricity was higher. (1)The core rate of inflation, which excludes food and fuel, remained the same as it was in June at 5.9%, but that was a better reading than economists had expected. Shelter accounts for about 40% of the core rate and that was up 5.7% on an annual basis.Economists and stock traders had been predicting another .75% rate hike in September to help control inflation. But as CNBC reports, they now believe there's a better chance for just a half point rate hike. (2) Louis Navellier said in his podcast that he believes it could be a 75 basis rate hike still, but that it will most likely be the last one because it's rare to see rate hikes before an election. If that's the case, he's expecting a big stock market rally after September 21st.The Chief Economist at Jeffries, Aneta Markowska, told CNBC: “Things are moving in the right direction. This is the most encouraging report we've had in quite some time.” She also agrees that it will take some pressure off Federal Reserve officials at their next meeting.You'll find a link to the full report in the show notes at newsforinvestors.com.Please remember to hit the subscribe button, and leave a review!Thanks for listening. I'm Kathy Fettke.Links:1 -https://www.bls.gov/news.release/cpi.nr0.htm2 -https://www.cnbc.com/2022/08/10/consumer-prices-rose-8point5percent-in-july-less-than-expected-as-inflation-pressures-ease-a-bit.html

Diana Furchtgott-Roth joins the show to discuss Inflation Reaching a 40-Year High (Inflation now at 9.1%). Diana was the former Chief Economist at the U.S. Department of Labor, and former Chief of Staff of the Council of Economic Advisers.

The multi-trillion dollar question for the US economy is “Can inflation drop to the Federal Reserve's target without a substantial jump in the unemployment rate?” Everything is riding on this, as it informs the trajectory for the Fed and for growth in the near future. On this episode of the podcast, we pose that question to Jan Hatzius, Chief Economist at Goldman Sachs. We discuss what it will take to bring the unemployment rate down, why it's going to be difficult to avoid a hard landing and also why so many economists both inside and outside of the Federal Reserve got the inflation trajectory wrong over the last year.See omnystudio.com/listener for privacy information.

David Burson, Chief Economist at Nationwide Insurance joined Westside Jeff in for Chris Krok. The July jobs report. Earlier he said we are not really in a recession until the jobs report was released. How's it looking now?Support the show: http://www.wbap.com/chris-krok/See omnystudio.com/listener for privacy information.

US Treasury Secretary Janet Yellen claims the US economy is not in a recession,  despite two consecutive quarters of declining GDP. Economics Explored EP151 guest Darren Brady Nelson disagrees with the Treasury Secretary and argues she is taking a political position. Whether she's being political or not, Janet Yellen has certainly taken a big risk, as Darren and Gene discuss. Darren and Gene also talk about the review of the Aussie central bank, the Reserve Bank of Australia, particularly how climate change could figure in that review. Darren argues the review team should have a broader range of views represented, including Monetarist and Austrian perspectives. Darren is Chief Economist of the Australian think tank Liberty Works and he's also an Economics Associate at the CO2 Coalition in Washington, DC. For Darren's bio, check out:https://economicsexplored.com/regular-guests/While it's the NBER that declares whether the US economy is in recession, this CNBC report notes: “Since 1948, the economy has never seen consecutive quarterly growth declines without being in a recession.”https://www.cnbc.com/2022/07/28/gdp-q2-.htmlBut many economists are skeptical about whether the US is in a recession, including recent podcast guests Stephen Kirchner and Michael Knox. Stephen Kirchner on the US recession question:https://stephenkirchner.substack.com/p/recession-is-as-recession-does-updating?utm_source=emailMichael Knox's Economic Strategy: Fed hikes rates, but Fed says no recession:https://drive.google.com/file/d/16xlMMKAEXv_wFA20EN3n3aVyYm7UuKua/view?usp=sharingCreditsThanks to Josh Crotts for mixing the episode and to the show's sponsor, Gene's consultancy business www.adepteconomics.com.au. Please consider signing up to receive our email updates and to access our e-book Top Ten Insights from Economics at www.economicsexplored.com. Also, please get in touch with any questions, comments and suggestions by emailing us at contact@economicsexplored.com or sending a voice message via https://www.speakpipe.com/economicsexplored. Economics Explored is available via Apple Podcasts, Google Podcast, and other podcasting platforms.

Radio Davos is the weekly podcast from the World Economic Forum that looks at the world's biggest challenges and how we might solve them. This episode looks at some of our best stories from the last 12 months, and we hear from our sister podcasts, Meet the Leader, Agenda Dialogues, and the new World Economic Forum Book Club Podcast. Guests include: Samantha Cristoforetti, astronaut Nick Clegg, President for Global Affairs at Meta Gregory Daco, Chief Economist at EY-Parthenon Gita Gopinath, First Deputy Managing Director, International Monetary Fund Vicki Hollub, CEO of Occidental Petroleum John Kerry, US climate envoy Adam McKay, film maker Lewis Pugh, endurance swimmer Stuart Russell, Professor of Computer Science a Elif Shafak, author Peter Schwartz, Peter Schwartz, Futurist & SVP of Strategic Planning, Salesforce Adam Tooze, Director, European Institute, Columbia University Saadia Zahidi, head of the World Economic Forum's Centre for the New Economy and Society Volodymyr Zelenskyy, President of Ukraine   Transcript: 

Shane Oliver, Head of Investment Strategy & Chief Economist, AMP Capital discusses Bank of England rate decision, what to expect from Alibaba's upcoming results and the latest developments in the oil market. See omnystudio.com/listener for privacy information.

Radio Davos is the weekly podcast from the World Economic Forum that looks at the world's biggest challenges and how we might solve them. This episode looks at some of our best stories from the last 12 months, and we hear from our sister podcasts, Meet the Leader, Agenda Dialogues, and the new World Economic Forum Book Club Podcast. Guests include: Samantha Cristoforetti, astronaut Nick Clegg, President for Global Affairs at Meta Gregory Daco, Chief Economist at EY-Parthenon Gita Gopinath, First Deputy Managing Director, International Monetary Fund Vicki Hollub, CEO of Occidental Petroleum John Kerry, US climate envoy Adam McKay, film maker Lewis Pugh, endurance swimmer Stuart Russell, Professor of Computer Science a Elif Shafak, author Peter Schwartz, Peter Schwartz, Futurist & SVP of Strategic Planning, Salesforce Adam Tooze, Director, European Institute, Columbia University Saadia Zahidi, head of the World Economic Forum's Centre for the New Economy and Society Volodymyr Zelenskyy, President of Ukraine   Transcript: https://www.weforum.org/agenda/2022/07/radio-davos-best-of-world-economic-forum-podcasts

Russell Price, Chief Economist at Ameriprise Financial, discusses markets and the economy in 2022. Shawn Snyder, Head of Investment Strategy at Citi US Wealth Management, discusses markets and investing. Vince Cignarella, Bloomberg News global macro strategist, joins the show to discuss inflation, markets, and what he expects the Fed to do with interest rates. Hannah Levitt, finance reporter with Bloomberg News, joins the show to discuss Wall Street bonus being poised to plunge. Mei Mei Hu, CEO at Vaxxinity (NASDAQ: VAXX), joins the show to discuss her company, vaccine production, and her appearance at the White House vaccine summit. Hosted by Paul Sweeney and Matt Miller.See omnystudio.com/listener for privacy information.

If tension between China, the US & Taiwan boils over, it could have a huge fallout for the world economy and Australia could be wedged in the middle.See omnystudio.com/listener for privacy information.

Costs in construction have spiked in recent months, driven by inflation, economic stimulus and supply chain challenges, impacting on material availability. The increase in construction costs is putting pressure on the development pipeline, margins and timelines. So how high will they go, how are developers these managing increases and what is the outlook for the Australian economy? In this episode of Talking Property we look at the sharp rise in construction costs and the impact they're having on the industry. Hosted by Kate Bailey, Director of Research, Pacific with special guests Carlos Cacho, Chief Economist at Jarden Australia and Richard Hume, Victorian State Director of Project Management at CBRE Pacific. To find out more about this topic, you can read CBRE's full brief https://www.cbre.com.au/insights/reports/australia-local-response-sharp-rise-in-construction-cost-inflation-to-persist-june-2022

The Reserve Bank confirmed a lift to the official cash rate of 50 basis points to 1.85%. This will put more people into mortgage stress, but questions will be asked as to whether the RBA has gone hard enough in its pursuit of controlling inflation.See omnystudio.com/listener for privacy information.

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Economic growth coming close to a dead stop by end of 2022 Ken Peacock, Chief Economist and Senior Vice President for the Business Council of British Columbia discusses Canada's economic growth through the first half of 2022 and just how many jobs B.C. is creating.  Kevin Falcon: People deserve to feel safe in their communities but that's no longer the case Kevin Falcon, leader of the BC Liberals responds the recent string of gun violence throughout the province and violent crime within the city of Vancouver.  ABC Vancouver announce Park Board candidates; reverse position on eliminating Park Board Ken Sim, Mayoral Candidate for ABC Vancouver discusses the decisions he would make as Mayor of Vancouver. Plus, your calls and questions for the mayoral candidate!  Indigenous groups faceoff in Charter challenge to be heard by Supreme Court of Canada Rob Louie, Founder and President of Band Members Alliance and Advocacy Association of Canada discusses a case before the supreme court over transparency within Indigenous governments 

Consumer confidence may be low, but New Zealand households are still spending. This is according to the latest ANZ-Roy Morgan numbers, which show that while consumer confidence is still really, really low, it has gone up a little bit this month, which is good news. ANZ chief economist Sharon Zollner joined Heather du Plessis-Allan. LISTEN ABOVESee omnystudio.com/listener for privacy information.

Si alguna vez te preguntaste porque los gobiernos no solo imprimen dinero y ya, aquí tienes la respuesta, nuestra Chief Economist, Cecy Cuellar nos platica desde el nacimiento del dinero hasta resolver la pregunta clave. No olvides seguirnos aquí: https://linktr.ee/Finanzas_relax

Inflation has pushed up prices for almost everything, but rising food prices could mean life or death for people in countries already struggling with conflict, economic downturns, and the effects of climate change. Maximo Torero Cullen is Chief Economist for the UN's Food and Agriculture Organization, which tracks global food security. In this podcast, Torero says wheat and fertilizer supply shortages have driven up prices and increased food import bills for the most vulnerable countries by more than 25 billion dollars, putting 1.7 billion people at risk of going hungry. Transcript: https://bit.ly/3vlHUht

Anneke Thompson, Chief Economist 

Ken Peacock, Chief Economist and Senior Vice President for the Business Council of British Columbia discusses Canada's economic growth through the first half of 2022 and just how many jobs B.C. is creating. 

We ask a host of experts what they're seeing in the market. Anthony Taylor is the Head of Real Estate at Emirates NBD Asset Management, who are the fund managers for ENBD REIT and he gives us the landlord perspective. Plus, we hear get the real estate brokers perspective from Sarah Hewerdine of Houza.com and Mario Volpi of Engel & Volkers. Plus, the US Federal Reserve increased interest rates by 75 basis points and the UAE Central Bank immediately followed suit, with the benchmark lending rate at 3.5%.Khatija Haque, Chief Economist of Emirates NBD joined us to explain what's that going to feel like in the UAE?See omnystudio.com/listener for privacy information.

Recession? What recession? Two straight quarters of negative GDP growth? Nah! Look at all the jobs and investment! Pay no attention to all those high gas prices, bare shelves, and high inflation! Here's a bill that will give you all sorts of free goodies! Joe Biden signed the Inflation Reduction Act of 2022, a scaled-back version of the Build Back Better plan. Will it reduce inflation? Vance Ginn, Chief Economist with the Texas Public Policy Foundation, will give you his take. The Rick Roberts Show is on NewsTalk 820 WBAP ... (Photo Courtesy of WFAA)See omnystudio.com/listener for privacy information.

Another rate hike is expected today as the economy teeters on a recession. While the Federal Reserve is attempting to reduce June's 9.1% consumer price increase, a potential report on Thursday showing a second straight quarter of economic decline is leading to growing concerns that the rate hikes could slow the economy too much. Chief Economist at Moody's Analytics Mark Zandi joins the Rundown to discuss the state of the economy, concerns over consumer spending, and why he doesn't believe the United States is currently in a recession. There was bipartisan concern in a Tuesday Senate committee hearing, where lawmakers discussed the sharp rise in American overdose deaths due to fentanyl, which a 2021 CDC report cited that the synthetic opioid was responsible for two out of every three overdose deaths that year. Former Drug Enforcement Agency Agent in charge of Special Operations Division, Derek Maltz joins the podcast to explain how the digital world has given cartels a stronger trafficking network, how both China and Mexico are responsible for the flow of Fentanyl into the U.S., and how this issue relates back to America's overwhelmed and underfunded law enforcement at the southern border. Plus, commentary by member of former President Trump's economic recovery task force, Stephen Moore.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Another rate hike is expected today as the economy teeters on a recession. While the Federal Reserve is attempting to reduce June's 9.1% consumer price increase, a potential report on Thursday showing a second straight quarter of economic decline is leading to growing concerns that the rate hikes could slow the economy too much. Chief Economist at Moody's Analytics Mark Zandi joins the Rundown to discuss the state of the economy, concerns over consumer spending, and why he doesn't believe the United States is currently in a recession. There was bipartisan concern in a Tuesday Senate committee hearing, where lawmakers discussed the sharp rise in American overdose deaths due to fentanyl, which a 2021 CDC report cited that the synthetic opioid was responsible for two out of every three overdose deaths that year. Former Drug Enforcement Agency Agent in charge of Special Operations Division, Derek Maltz joins the podcast to explain how the digital world has given cartels a stronger trafficking network, how both China and Mexico are responsible for the flow of Fentanyl into the U.S., and how this issue relates back to America's overwhelmed and underfunded law enforcement at the southern border. Plus, commentary by member of former President Trump's economic recovery task force, Stephen Moore.  Learn more about your ad choices. Visit megaphone.fm/adchoices

In today's episode of the podcast, we're going to hear from FTC Chair Lina Khan, who was appointed in June 2021, as well as FTC Commissioner Rebecca Kelly Slaughter, who was appointed to a Democratic seat on the Commission in 2018. This isn't a typical episode- what you'll hear is audio of a special event hosted on Tuesday, July 19 by the Economic Security Project (ESP) and the Law and Political Economy Project (LPE). These organizations brought together scholars, advocates, and government officials to discuss how new thinking and research seeks to reframe dominant economic paradigms, and why it is so important to redefine and challenge monopolies.  The event, Resourcing a New Paradigm: The Future of Antimonopoly Research, was introduced by Becky Chao, Director of Antimonopoly at the Economic Security Project, and it is her voice you'll hear first. After remarks from Chair Khan and Commissioner Slaughter, you'll hear a panel discussion moderated by the Open Markets Institute's Legal Director, Sandeep Vaheesan. The full complement of speakers includes: Lina Khan, Chair, Federal Trade Commission Rebecca Kelly Slaughter, Commissioner, Federal Trade Commission Elettra Bietti, Joint Postdoctoral Fellow, NYU School of Law and the Digital Life Initiative at Cornell Tech in New York Brian Callaci, Chief Economist, Open Markets Institute Seeta Peña Gangadharan, Associate Professor in the Department of Media and Communications, London School of Economics and Political Science Lenore Palladino, University of Massachusetts Amherst Assistant Professor of Economics and Public Policy Becky Chao, Director of Antimonopoly, Economic Security Project Amy Kapczynski, Professor of Law and Faculty Director, Global Health Justice Partnership Moderated by Sandeep Vaheesan, Legal Director, Open Markets Institute By the end of this 90 minutes, you will be up to date on the key ideas, challenges and opportunities ahead for the intellectual project to redefine antimonopoly thinking and law to pursue not just economic but also social and racial justice.

Headline inflation hit 6.1% as Australia grapples with a cost of living crisis. We're not yet at the top of the cycle, so there's still a lot more pain to come.See omnystudio.com/listener for privacy information.

Another rate hike is expected today as the economy teeters on a recession. While the Federal Reserve is attempting to reduce June's 9.1% consumer price increase, a potential report on Thursday showing a second straight quarter of economic decline is leading to growing concerns that the rate hikes could slow the economy too much. Chief Economist at Moody's Analytics Mark Zandi joins the Rundown to discuss the state of the economy, concerns over consumer spending, and why he doesn't believe the United States is currently in a recession. There was bipartisan concern in a Tuesday Senate committee hearing, where lawmakers discussed the sharp rise in American overdose deaths due to fentanyl, which a 2021 CDC report cited that the synthetic opioid was responsible for two out of every three overdose deaths that year. Former Drug Enforcement Agency Agent in charge of Special Operations Division, Derek Maltz joins the podcast to explain how the digital world has given cartels a stronger trafficking network, how both China and Mexico are responsible for the flow of Fentanyl into the U.S., and how this issue relates back to America's overwhelmed and underfunded law enforcement at the southern border. Plus, commentary by member of former President Trump's economic recovery task force, Stephen Moore.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Why is everything so expensive? And will a wage increase just make it worse? New research shows that only a trivial portion of Australia's inflation has come from wages this year, while rising prices continue to drive not just inflation, but profits to record highs.This was recorded on Tuesday 26th July 2022 and things may have changed since recording.The Australia Institute // @theausinstituteHost: Ebony Bennett, Deputy Director, the Australia Institute // @ebony_bennettGuest: Richard Denniss, Chief Economist at the Australia Institute // @RDNS_TAIProducer: Jennifer Macey // @jennifermaceyEdited by: Mikayla McGuirck-ScolaroTheme Music: Pulse and Thrum; additional music by Blue Dot Sessions

The combination of a series of geopolitical and economic shocks, including the war in Ukraine, the flare-up of Covid cases in China and the consequent supply chain disruptions has sent inflation skyrocketing. The Fed is leading the charge of global central banks tightening monetary policy to bring inflation under control. How much will these factors continue to weigh down the economic outlook for the remainder of the year? We discuss the outlook with Selena Ling the Chief Economist of OCBC Bank.

Dr Richard is the Chief Economist and former Executive Director of The Australia Institute. He is a prominent Australian economist, author and public policy commentator. Richard came on the show at the beginning of the COVID-19 pandemic. It's interesting to look back, and hear his predictions about what would happen, and how they compare to what is happening now. We discuss climate change, and what the economy will look like on the other side of lockdowns. See acast.com/privacy for privacy and opt-out information.

A FOX News poll shows that 75 percent of Americans have faced financial hardship due to inflation in the last six months. As inflation reached another record high of 9.1% in the month of June, a majority of Americans say that gas prices and inflation are the most important issues to them when going to the polls this November. Democrats are hoping that the Dobbs v. Jackson decision repealing abortion rights will help their base turn out in November. Plus, Democratic members of Congress have presented legislation on social issues such as codifying same-sex marriage and legalizing marijuana at the federal level in hopes of changing the national conversation headed into the fall.  Senate Majority Whip John Thune (R-SD) joins Mike Emmanuel on the FOX New Rundown today to cover all of these issues, as well why the Senator believes the Senate's semiconductor legislation doesn't go far enough to compete with China technologically.   The prices of both homes and mortgages have increased, leading sales within the housing market to go down for five straight months. These factors, coupled with multiple offers and a housing shortage, has led to an incredibly tight market for buyers. Chief Economist at the National Association of Realtors Lawrence Yun joins the Rundown to discuss the current state of the housing market, the lack of supply of homes within the country, and advice for people looking to buy homes. Plus, commentary from NY Post Reporter Karol Markowicz. Learn more about your ad choices. Visit megaphone.fm/adchoices

A FOX News poll shows that 75 percent of Americans have faced financial hardship due to inflation in the last six months. As inflation reached another record high of 9.1% in the month of June, a majority of Americans say that gas prices and inflation are the most important issues to them when going to the polls this November. Democrats are hoping that the Dobbs v. Jackson decision repealing abortion rights will help their base turn out in November. Plus, Democratic members of Congress have presented legislation on social issues such as codifying same-sex marriage and legalizing marijuana at the federal level in hopes of changing the national conversation headed into the fall.  Senate Majority Whip John Thune (R-SD) joins Mike Emmanuel on the FOX New Rundown today to cover all of these issues, as well why the Senator believes the Senate's semiconductor legislation doesn't go far enough to compete with China technologically.   The prices of both homes and mortgages have increased, leading sales within the housing market to go down for five straight months. These factors, coupled with multiple offers and a housing shortage, has led to an incredibly tight market for buyers. Chief Economist at the National Association of Realtors Lawrence Yun joins the Rundown to discuss the current state of the housing market, the lack of supply of homes within the country, and advice for people looking to buy homes. Plus, commentary from NY Post Reporter Karol Markowicz. Learn more about your ad choices. Visit megaphone.fm/adchoices

Ahead of an economic report that most expect will show a second quarter in a row of negative growth, the White House is calling on the ghost of Bill Clinton. What is a recession? Depends on what you mean by "Is"! The White House says even if there are two quarters in a row with negative growth, that's not a recession! How? And the Senate is passing a CHIPS Plus bill that spends taxpayer money on semiconductor chip-making in the U.S. Will it benefit Texas? Vance Ginn, Chief Economist at the Texas Public Policy Foundation, answers your questions on The Rick Roberts Show on NewsTalk 820 WBAP ... (Photo Courtesy of WFAA)See omnystudio.com/listener for privacy information.

A FOX News poll shows that 75 percent of Americans have faced financial hardship due to inflation in the last six months. As inflation reached another record high of 9.1% in the month of June, a majority of Americans say that gas prices and inflation are the most important issues to them when going to the polls this November. Democrats are hoping that the Dobbs v. Jackson decision repealing abortion rights will help their base turn out in November. Plus, Democratic members of Congress have presented legislation on social issues such as codifying same-sex marriage and legalizing marijuana at the federal level in hopes of changing the national conversation headed into the fall. Senate Majority Whip John Thune (R-SD) joins Mike Emanuel on the FOX New Rundown today to cover all of these issues, as well why the Senator believes the Senate's semiconductor legislation doesn't go far enough to compete with China technologically. The prices of both homes and mortgages have increased, leading sales within the housing market to go down for five straight months. These factors, coupled with multiple offers and a housing shortage, has led to an incredibly tight market for buyers. Chief Economist at the National Association of Realtors Lawrence Yun joins the Rundown to discuss the current state of the housing market, the lack of supply of homes within the country, and advice for people looking to buy homes. Plus, commentary by New York Post columnist Karol Markowicz. Learn more about your ad choices. Visit megaphone.fm/adchoices

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Sonia Furstenau and the BC Green Party reacts to David Eby's bid to become leader of the BC NDP Is the NDP adequately handling the healthcare crisis and responding to David Eby running for Leader of the NDP is Sonia Furstenau, leader of the BC Green Party  Mass resignations can't be far off after latest Hockey Canada revelations We don't typically talk about hockey in late July – But this story is too big and too important to ignore. New disturbing details surrounding Hockey Canada and its  attempts to cover up an alleged sexual assault from 2018 have come to light, and our show contributor Jawn Jang has been following this. A reminder to our listeners: this references stories of sexual assault. If you or someone you know is a victim of sexual assault, you can call VictimLinkBC's 24 hour confidential hotline at 1-800-563-0808. Checking in on the community of Lytton during this wildfire season Kevin Sampson, Band Councilor for Lytton First Nation and an Emergency Operations Centre Deputy Director provides an update on the wildfire situation in the village of Lytton  How can you reach peak hydration during a heatwave? Dr. Emily Newhouse, Medical Health Officer with Fraser Health gives tips on how to say hydrated during the hot summer months  What are Canadians willing to sacrifice for affordable housing? Brendon Ogmundson, Chief Economist at the British Columbia Real Estate Association tells us exactly what Canadians are sacrifice in order to be able to afford to live in Canada's major cities.  Can Netflix rebound from losing close to 1 million subscribers? Andy Baryer, Technology and Digital Lifestyle Expert at HandyAndyMedia.com & a weekly contributor on The Shift with Shane Hewitt sheds light on what's going on at Netflix and why they are losing subscribers 

0:00 -Mallgoers in Greenwood return to pick their things express their gratitude for the Good Samaritan 11:06 -Biden has cancer?... nevermind  28:50 - Dan & Amy head to Lake of the Hills for  A DRAG SHOW for KIDS this Saturday at Uprising Bakery and Café 45:43 -River Page, a writer living in the Florida Panhandle, explains How Democrats Became the Anti-Charisma Party. Check out River's blog, Chain Smoking to Babylon, at riverpage.substack.com 01:00:28 - Julius Krein, editor of American Affairs:  Corporations aren't greedy enough. You can also follow Julius on twitter @JuliusKrein 01:17:18 - THE PURGE/THE REVOLT: Harbaugh fallout 01:30:51 - Brian Wesbury, Chief Economist at  First Trust Portfolios LP, warns of double digit inflation for longer than other people think. Follow Brian on twitter @wesbury 01:52:21 - Senior Contributor for American Greatness and author of January 6: How Democrats Used the Capitol Protest to Launch a War on Terror Against the Political Right, Julie Kelly, previews tonights Jan 6 hearing. Check out Julie's latest for American Greatness here See omnystudio.com/listener for privacy information.

Thursday's AOA began with Brian Earnest, Lead Animal Protein Economist at the CoBank Knowledge Exchange, discussing the state of the poultry markets as that industry comes out of HPAI. Next, we spoke with Ken Simonson, Chief Economist for the Associated General Contractors about the trends in construction costs and labor availability. Beth Breeding, VP of Communications at the National Turkey Federation, joined in segment three to discuss what 120 turkey industry folks are bringing up this week in Washington DC and we ended the show with Sarah McKay, Director of New Market Development at the National Corn Growers Association discussing the upcoming Consider Corn Challenge!

With inflation at a 13-year hike, Financial Analyst and Chief Economist and Advisory Partner at Citadel Investment Services Maarten Ackerman joins John to discuss the implications of today's reserve bank announcement. See omnystudio.com/listener for privacy information.

To commemorate our 100th episode of the YMC podcast, your hosts Jay Gilbert and Mike Etchart had an opportunity to interview one of our favorite experts in the digital music space, Mr. Will Page. The author of Tarzan Economics and the former Chief Economist at Spotify has a unique perspective on the goings on in the industry today, and also where the industry is going in the future. He brings both an educated analytical mind and the incredible passion of a music creator and fan - a truly unique and refreshing combination - to his viewpoint, and we always expand our own knowledge when we hear from him.  We hope you enjoy the interview!    

Chief Economist at Angi, Mischa Fisher, and RCS President, Heidi J. Ellsworth, discuss lumber prices, the ocean shipping reformat and, as always, how recent economic changes impacted roofing contractors and what contractors can do to prepare for future changes. Learn more about Angi: https://www.rooferscoffeeshop.com/directory/angi #angi Learn more at RoofersCoffeeShop.com #rooferscoffeeshop #roofingcontractors #roofersforum #roofingindustry Are you a contractor looking for resources? Become an R-Club Member today! https://www.rooferscoffeeshop.com/what-is-r-club Follow us! https://www.instagram.com/rooferscoffeeshop/?hl=en https://www.facebook.com/rooferscoffeeshop/ https://www.linkedin.com/company/rooferscoffeeshop-com/ https://www.tiktok.com/@rooferscoffeeshop? Timecodes: 0:00 - Intro 0:49 - Lumber Prices 4:14 - The Great Recession Debate 7:48 - Gas Prices 10:00 - Ocean Shipping Reformat 13:18 - Additional Advice

Stefan Dercon is the author of Gambling on Development, in which he details his theory of the elite bargain framework for development in low-income countries. Stefan is a Professor of Economic Policy at the University of Oxford, and also serves as the Director of the Center for the Study of African Economies. Prior to his current academic posts, he has extensive experience in the world of policy, as the Chief Economist at the Department for International Development and as an advisor to the UK's Foreign Secretary. In our conversation with Stefan in today's show, we get to delve deep into his elite bargain idea, the impact of effective altruism, the need for self-awareness within governments, and how far lessons from certain examples can be applied to other states. We also get to talk about political settlements and how his framework fits into the context of current popular theories and explanations for economic growth. So to catch all this and a whole lot more, be sure to listen in to this great chat with Stefan Dercon! Key Points From This Episode: •   Stefan's perspective on the different skills needed for policy implementation and idea generation. •   The challenges of communicating the need for policy experimentation to politicians. •   Some key ingredients to effective government meetings and common mistakes that Stefan has seen. •   Examples from Stefan of the kind of practical implementations he has seen used well in governance.  •   Stefan shares some examples that underline his book's main thesis about successful development. •   An approach to determining a country's emerging development bargain. •   Our guest unpacks the three conditions for development bargains noted in his book. •   Why a certain model for development cannot be expected to have the same success in a different context. •   The impact that studying Asia later in his career has had on Stefan's frameworks and philosophy. •   Stefan talks about his findings on possible lessons from urbanization in China. •   Issues that Stefan has with the idea and terminology of political settlements. •   Contrasting Stefan's argument with the thesis of Why Nations Fail. •   Suggestions on how to motivate elites to engage and gamble on development.   •   Stefan's personal perspective on economic growth and its role in poverty alleviation.  •   Why meaningful progress is dependent on a certain amount of risk.  •   How Stefan would suggest spending money on growth interventions and lessons from Africa in the 1990s.  •   What the situation in Sri Lanka right now teaches us about investment in people. •   The danger of consolidating authoritarianism in countries such as China and Rwanda. •   How the mobility of a burgeoning middle class can impact the development of a state.  •   Stefan weighs in on the potential scalability problem in a technocracy. •   Some of Stefan's reflections on his time at DFID and its challenges. •   Looking to the horizon with Stefan and his forthcoming projects.     Links Mentioned in Today's Episode: https://www.bsg.ox.ac.uk/people/stefan-dercon (Stefan Dercon) https://www.gamblingondevelopment.com/ (Gambling on Development) https://twitter.com/gamblingondev (Stefan Dercon on Twitter) https://www.ox.ac.uk/ (University of Oxford) https://www.gov.uk/government/organisations/department-for-international-development (Department for International Development) https://www.gov.uk/government/people/justine-greening (Justine Greening) https://www.rorystewart.co.uk/ (Rory Stewart) https://www.bsg.ox.ac.uk/people/paul-collier (Paul Collier)...

Matt Chorley hears from The Times' Policy Editor Oliver Wright, former Chancellor Lord Lamont and Gemma Tetlow the Chief Economist at the Institute for Government to delve into the Tory Leadership hopeful's economic plans.PLUS: Libby Purves and Rachel Sylvester discuss TV debates and museums. See acast.com/privacy for privacy and opt-out information.

https://www.youtube.com/watch?v=hoA1OwVgI8U Unlike in the Apollo era, the private sector now has considerable space capabilities and in the last five years, tens of billions of dollars have been invested in space programs by companies, individuals and investment firms. Consequently, NASA is increasingly using public private partnerships (PPPs) to enable space exploration. This panel will examine when PPPs make sense, what types of PPPs are best for exploration applications and what does the commercial market for exploration hold for the next twenty years.   Participants: Tony Darnell, Deep Astronomy (Host)   Jamil Castillo, Manager, Space Policy and Digital Communications, Coalition for Deep Space Exploration (Moderator)   Tom Colvin, Research Staff Member, IDA Science Technology Policy Institute    Mary Lynne Dittmar, Executive Vice President, Government Operations & Strategic Communications, Axiom Space   Alex MacDonald, Chief Economist, NASA   We've added a new way to donate to 365 Days of Astronomy to support editing, hosting, and production costs.  Just visit: https://www.patreon.com/365DaysOfAstronomy and donate as much as you can! Share the podcast with your friends and send the Patreon link to them too!  Every bit helps! Thank you! ------------------------------------ Do go visit http://www.redbubble.com/people/CosmoQuestX/shop for cool Astronomy Cast and CosmoQuest t-shirts, coffee mugs and other awesomeness! http://cosmoquest.org/Donate This show is made possible through your donations.  Thank you! (Haven't donated? It's not too late! Just click!) ------------------------------------ The 365 Days of Astronomy Podcast is produced by the Planetary Science Institute. http://www.psi.edu Visit us on the web at 365DaysOfAstronomy.org or email us at info@365DaysOfAstronomy.org.

Stefan Dercon is Professor of Economic Policy at the Blavatnik School of Government and the Economics Department, and a Fellow of Jesus College. He is also Director of the Centre for the Study of African Economies. He combines his academic career with work as a policy advisor, providing strategic economic and development advice, and promoting the use of evidence in decision making. Between 2011 and 2017, he was Chief Economist of the Department of International Development (DFID), the government department in charge with the UK's aid policy and spending. Between 2020-2022, he was the Development Policy Advisor to successive Foreign Secretaries at the UK's Foreign, Commonwealth and Development Office. His research interests concern what keeps some people and countries poor: the failures of markets, governments and politics, mainly in Africa, and how to achieve change. His latest book, Gambling on Development: Why some countries win and others lose was published in May 2022. It draws on his academic research as well as his policy experience across three decades and 40-odd countries, exploring why some countries have managed to settle on elite bargains favouring growth and development, and others did not. Previously, Dull Disasters? How Planning Ahead Will Make A Difference was published in 2016, and provides a blueprint for renewed application of science, improved decision making, better preparedness, and pre-arranged finance in the face of natural disasters.

Matsuoka-San is the Chief Economist of SBI Securities in Japan. Before that, he was the Chief Economist for Japan at Deutsche Bank. Overall, he has been involved in macroeconomic analysis at research institutions and financial institutions for the past 30 years. He is known to be one of the leading Japan economists with unique insights on structural issues. Over the years he has been highly ranked in numerous surveys including the Institutional Investor survey. In this podcast we discuss: 1) Former Prime Minister Abe's legacy in Japan. 2) The long-term impact of COVID on the global economy. 3) The demise of capitalism. 4) Why nominal GDP targeting is better than inflation targeting. 5) Measuring financial stress and why it is rising. 6) Which other countries are ‘Japanising'. 7) The current state of Japanese growth. 8) How high can Japanese inflation go? 9) Will the BoJ exit yield curve control (YCC)? 10) Is a weak yen a problem for Japan? 11) What drives Japanese bond yields. 12) Books that influenced Matsuoka-San: The Structure of Scientific Revolutions (Kuhn).

Sean O'Hara, President of Pacer ETFs, discusses the award-winning COWZ ETF and ETF investing amid inflation and rising interest rates. Peter McNally, Global Lead - Industrials, Materials, and Energy at Third Bridge, talks about airlines, travel, oil, and Delta earnings. Matt Winkler, Editor-in-Chief Emeritus with Bloomberg News, discusses his latest column on CPI data and evidence of decelerating inflation. Vinh Vuong, Chairman and CEO at Garrison Fathom, talks about crypto regulation, blockchain technology, and the outlook for Bitcoin and crypto. Hugh Johnson, Chairman and Chief Economist of Hugh Johnson Economics, talks about the economy and markets in 2022. Hosted by Matt Miller and Kriti Gupta. See omnystudio.com/listener for privacy information.

With a passion for researching and sharing the most important facts on real estate and economics, Kathy Fettke is a frequent guest expert on such media as CNN, CNBC, Fox News, NPR, CBS MarketWatch and the Wall Street Journal. She is the author of the #1 best-seller, Retire Rich with Rentals, and host of two long-running RealWealth podcasts – “The Real Wealth Show” and “Real Estate News for Investors.” You'll also find her on the recently launched BiggerPockets “On the Market” podcast as one of several co-hosts. Kathy received her BA in Broadcast Communications from San Francisco State University and worked in the newsrooms of CNN, FOX, CTV, and ABC-7. She's the past president of American Women in Radio & Television. She is passionate about learning and sharing that information with the members of RealWealth and her podcast listeners. In today's show, Kathy shares her investment journey, her predictions on where we've been, and where the market is headed. Episode Link: https://realwealth.com/ --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Michael: What's going on everyone? Welcome to another episode of the Remote Real Estate Investor. I'm Michael Albaum and today I'm joined by Kathy Fettke, who is the co-founder of Real wealth and she's going to be talking to us today about her predictions around where the market is headed, and where we've been. So let's get into it.   Kathy Fettke, how are you? Thanks so much for taking the time.   Kathy: I am doing wonderful, thanks for having me here.   Michael: Oh my gosh, I'm so excited. So we had your husband Rich on a while ago on our podcast and we were asking him about market conditions and forecasting and he goes timeout you got to have my wife on. So for anyone who didn't catch that episode, give us a quick, quick intro background, who you are, where you come from and what it is you're doing in real estate.   Kathy: Yeah, well, Rich, and I founded real wealth, which we really did by accident. It was back in 2003 when he was really more in the motivational world. He was a speaker and had come out with a book called extreme success. He was doing this national book tour, we didn't know anything about real estate, but we house hacked, which wasn't really a term then. But basically, we bought a house it was way too expensive for us. So we rented out rooms and that's how we afford to live there. That's how you summarize that. But other than that, that was our only landlord experience and we didn't we didn't think that we could buy real estate until we were rich. You know, that's oftentimes what people think like, I gotta wait till I am a multimillionaire before I can do that, so he you know, he was building his coaching business, I was a stay at home mom. It was on that. On one of his when he came home from his tour, his media tour, and he noticed a freckle. As you probably saw, he's a redhead. So there's a lot of freckles on that guy but he noticed he was like this one's weird.   So he checked it out and the doctor looked at it did more tests, thought he basically told rich, he had probably six months to live because melanoma was extremely deadly than it probably still is. But they have better things today. But back then it was just like, here's your diagnosis, you got six months. So obviously a massive shocker. Both of us being motivational speakers and coaches were like, no, no, no, I'm not buying this. But I had to figure out the finances and I wanted to take over so that he could you know, if the doctor was right so that he could really enjoy himself for those six months. But really, we both were like No, don't even go there just get better. So that's when I had a weekend radio show in San Francisco that I just did for fun. It was kind of a coaching show is helping people go after their dreams in a in like a 90 day period and, and really create the things that they always wanted, but were afraid to do and all of a sudden, I'm like, I gotta change the show to me figuring out how to make money in 90 days, you know and how do I do that? So I completely changed the focus to wealth building and because it was the San Francisco show, I could interview really high level people like Robert Kiyosaki and that's how I learned real estate investing and that's over time, we built real wealth and we've been helping people, you know, educate people and educate ourselves ever since on how to build wealth through real estate.   Michael: I love that. So you're telling us that you learned real estate investing via hosting your own podcast and interviewing folks that had done it?   Kathy: Oh, yeah and I was such a dummy. I mean, like, literally knew nothing. Nothing. I mean, we were renting out rooms in our home on Craigslist. So like, we understood the dark side of what's doing, right, because of stories there. But no, it wasn't until I just thought I got it. I gotta figure this thing out. I've heard that there's a thing called passive income. I don't know what it is but let's find out and I just started interviewing people but I was lucky enough that because I was so desperate to create money, and I've been a stay at home mom for years. I I'd been in broadcasting and that was my degree. But I didn't want to chase fires and murderers when I was raising young children. So I, I basically was not doing that anymore and, and so and bless. They had strikes all the time where I'd have to march for hours in the middle of the night like that. Anyway, I hadn't been working and I didn't It's hard for women when you're out of the workforce for even a few months, but let alone a few years, kind of don't know how to get back in. So that was the focus is like how do I do this? But one thing I thought, well, I could maybe sell sponsorships. So I just started listening to everybody who was advertising at the time. It was like, oh, wow, there's a lot of people, but advertising mortgages.   So because you know, this was 2003 and that was what it was everybody was wanting a mortgage? Because they were ridiculous. So I went down the phonebook which existed at the time, and called all these one by one and finally I got someone. Well, I finally got someone to agree only because I was so tired of hearing no, I called finally the last person on the list. I was like, I got an offer you can't refuse. I'm looking for a co-host, instead of like an advertiser, and the guy's like, yeah, sounds good. So that's how I got my sponsor, but it ended up being a mortgage broker who I made a co-host and I came home and rich started laughing. He's like, oh, now you have a mortgage show. Like, that's gonna be funny, because you don't even like going to our fight you skip every financial planning meeting we ever have. And because I just really wasn't into it. But this mortgage broker who became my co-host, I thought, you know, how am I going to make this interesting, so rich, and I thought, well, you know, interview his clients, find out what they're doing with these loans. And that's, that was the game changer and again, like, I had no idea what I was talking about but I think that's what made the show interesting is, I would I was in such awe of the things that, that these people were doing, that all my audience was like, also learning along with me, and they were in awe. Because I was interviewing these 30 year old who were retired, you know, it was like, I'm 40 and I'm not retired. So what are you doing and I learned about flipping and I learned about buying hold, and I learned tax benefits and, and, you know, just all the strategies that Pete that at the time, were kind of secret because podcasts didn't exist back then. I'm so aging myself, but you couldn't you couldn't get the information. It was like late night TV or $10,000 boot camps, infomercials. Yeah, so it was like I was opening this secret world of real estate investment and making it public and I'm happy to say I was one of the first it changed my life and it changed the life of 1000s of people who got to listen.   Michael: I love it, I love it a little bit. Kathy, I want to shift gears here in just a minute. But before we do, I mean, you had such an interesting purview into this world of real estate investing. So having interviewed all those folks, and having taught numerous people how to do this, is there a red thread, or kind of key takeaway that you think should be thought should be spoken to would be investors or newer investors as they're just getting started?   Kathy: 100%, I can tell you, for me, I, I had a completely new mindset, because people like me who aren't born wealthy, you know, and, and have parents who work for money, you know, whoever, you know, they, if they're not working, they're not making money that you know, they don't understand investing and assets and cash flow and stuff like that, which is most of the world, right? So if you don't come from that, you don't have it, you don't have the mindset. So interviewing these people who were so different than what I thought rich people were like, and so you can even see it today, people who are angry at those who have there, they're just they feel it's unfair, that that's, that's the mindset I was in and then to actually talk to these people and find out there the most generous people, they have a different way of thinking, they look for opportunity, they look for ways that they can make a difference and making a difference is, you know, you're not going to be in business very long if you're not making a difference. And if you're not helping people, that's the bottom line, you're gonna be out of business unless you're government funded, and you get paid no matter what. But, you know, but you know, in a, in a free market society, it's like, if you're not making a difference in helping people, you're, no one's gonna buy your stuff. So I just really learned that, that these, there was a different mindset. So it had to start there and the way that my mindset changed was just being around people and you hear that a lot you hear, like, if you want to change your mindset, get around people that you want to be like, don't hang around the people you don't want to be like, you know, you become who you hang out with. So for me, just even being on the radio, with these people was enough for me to be exposed to a different way of being so it really begins with mindset,   Michael: Love it and kind of taking that a step further, what's your best advice, or the best way that you've seen people get around some different people that have the things or have accomplished what it is I'm looking to accomplish?   Kathy: You know, today, it's so much easier. There's so many more opportunities. You have podcasts that are free. Again, this didn't exist. There weren't radio shows that talked about, you know, how to build wealth through real estate, you know, and if it was it was probably someone who was trying to sell you something. So today, you have access to so many different podcasts like right now. You have books that are $20 You know, my book retire rich with rentals is 20 bucks, and it's my experience all summed up. There's so many books like that. out there that are cheap. So, you know, learning from those who really technically have nothing to sell you, you know, except a $20 book, you know, that's, that's okay do that real estate conferences Rheas. There are local Rheas everywhere and you have to be careful, because RIAs still have sharks. Even when I started real wealth, I couldn't believe the number of sharks that were out there and I ran into all of them. I'm telling you, like I couldn't. This is the other thing that new investors don't realize is that not everybody's nice and not everybody's telling you the truth. When you're a truth teller, you just assume other people tell you the truth and I can tell you when it comes to financial services, it's like, you know, there's so many people that can lie to your face and I met all of them here as well as smile, and they're so happy and they would come to my real estate group groups, they would come to me, assuming I was naughty, like they were and be like, hey, I got some properties to offload. You know, I'll pay like 10 grand, you know, we're getting them.   This was when the when everything fell apart. He's like, we're buying these things for like, $2,000 in Kansas City, and you can resell them for 20. Like, that's not fair, that like, these are tear downs, you know, but so, and they thought that I would be down for that. So there's, there's still RIAs where there's sharks who got out. So I guess the next step is when it comes to mindset, you've got a next step, educate, educate, educate, because then you can't be ripped off as easily. It's kind of like, I like to describe it, like when I took my family to Costa Rica, and I forgot to do my due diligence in the sense of, I forgot to find out what the exchange rate was and I had my $20 and I wanted an empanada and we were hungry and I handed the $20 and I got some change back and I looked at it, and I didn't know what it was and we walked out and I heard the people laughing. I'm like, oh, I just got ripped off but I don't even know how I don't know. You know, so that's how it is in real estate, if you haven't done your homework, and you haven't read those books and listen to those podcasts and you have learned that it's pretty easy to get ripped off.   Michael: Yep, I love that, I love that. Let's shift gears here, Kathy, because what you're doing right now, in this space is super, super interesting and talking about market trends and forecasts. So give us a little bit of insight, give us a little preview into your world of what that looks like and how you're doing it.   Kathy: Sure, well, it was in 2005. I'll just kind of go back again, where I was able to get people like Robert Kiyosaki on my show and he was the first one who was counterintuitive and that taught me so much because he was saying things that nobody else was saying, and no headline was saying, at the time, like what oh, like at the time, the, the main economist for the National Association of realtors had just come out with a book in 2006. That said, you know, I can't even remember it. But it was basically like, why this is why there's no housing bubble and why home prices will continue to go up for the rest of the decade and it was like this was the National Association of realtors Chief Economist. So you get Kiyosaki coming on and going, no, no, that's like, the loans are going to reset and they're starting now and by 2007 2008, people won't be able to pay the payment, because it's all adjusting and it was so obvious once I could see the data and that oh, you know, I ended up joining my co-host and becoming a mortgage broker. So I knew how bad the industry was and I knew how full of lies it was I my first loan that I turned in. They the bank came back and said, oh, your client doesn't make enough money and I was like, well, that's too bad. I'll let him know. He doesn't qualify and they said, no, no, we changed his income he qualifies now and I came home and I was like, pocket, I go rich. Is that legal and he goes, no, honey, that's fraud. Don't put your name on that. So I was one of the few mortgage brokers that Dec was didn't want to deal with the consequences of fraud. So I would turn down people and they would just go to the mortgage broker next door. They were Nina loans, no income, no assets. I didn't need anything. Anything, I didn't need to know anything about you and I could give you a $5 million loan. It was crazy. So I knew something was wrong. But so did everybody else but it was it was nobody could see it. So Kiyosaki is going, you know, this isn't going to end well and like yeah, da. So he was explaining that all the markets that really benefited from easy loans and easy lending were California, Nevada, the San states, Arizona, Florida and he said, but there are certain places that haven't abused these loans and Texas was one of those places. Texas wouldn't allow 105% cash out refinance.   Do you know what that is? That's where you would do a refi and get more money back than the value of the house. It's bright, steady. So Texas didn't do that because they'd been through the SNL crisis in the 80s. They weren't going to do that again. So, he was Kiyosaki was explaining in 2005 2006 I've sold everything in California and all the San states and I'm buying in Texas, I'm exchanging everything in Texas, because the fundamentals are there. The jobs are there, the population is growing. But the but the property's cash flow and that was something. As a California girl, I didn't even know the word. I didn't know what cash flow was, except for negative cash flow, that was a thing. I was curious, like, if you invest in California with negative and that was like common. So it was like all positive cash flow. Okay, so rich, and I jumped on a plane, we went to Texas in 2005, we came back with five properties, because back then you could buy as unlimited amount of investment properties, no money down. That's the kind of lending that existed, and no paperwork. So you know, sign on the dotted line. So we came back with five, but we bought, right, we bought, where the growth was headed, where the jobs were, where the freeways were going, and I talked about it on the show.   Next thing, you know, everybody wanted to do what we were doing. So that's, again, how real well start is just helping people buy and these markets. So I knew back then that you have to does like don't pay attention to the headlines pay attention to fundamentals and that's the same thing I'm doing today and this same thing exists today, where the headlines are, are not following data and people are basing their investment on these false headlines. Like even today, I had a little Facebook fight with some people saying, you know, everybody's like housing crash housing crash, and I'm like, where, like, where? Just show me the data…Yeah, I'm really curious to know where this housing crashes and I get crickets, you know, nothing. But that's what people are thinking and I'm okay with that. If, if my competition leaves the market, I'm okay with that. I would love less competition. Go, go away. Let me buy the stuff, you know.   Michael: Yeah, totally, totally. So I mean, I'm hearing the same chatter and seeing the same headlines doom and gloom, bubble housing crash. Talk to us about what you're seeing from a data driven perspective and what kind of your perspective and projections are   Kathy:   Sure, well, let's look at the American home owner versus the American homeowner before the last crash, before the last crash, there was no money down. In fact, you got cash back for buying, you could buy as many as you want. No, no, no paperwork required, right. It was just right. You know, today, it's a very different situation thanks to Dodd Frank changes it you have to put money down. I mean, not necessarily the first time homebuyer can put 3% down, but they still have to qualify with open books. And we all know how hard it is to get a loan and it has been for the past 12 years, so…   Michael: Full cavity search… as your neighbor's mailman, like…   Kathy: It's crazy awful. I'm doing one right now and I hate it. But you know, this is what it's been for 12 years is difficult. So you've got people for the last 12 years that had to qualify, you have the highest FICO is these are people who have proven a history of paying their bills, that was not the case back then it was subprime at, you can have a history of not paying your bills and still get a loan 100% financing, not the case today, you have to show that you pay your bills, and that you put money down and that your income supports the payment and not just that, but that debt to income that you can't have so much debt that you can't pay your home. So, you know, it's not been easy. The people who own homes today qualified, they're locked into low rates. They have the lowest housing cost in history. I might be wrong on that but they have very low housing cost the people who own homes.   So because they're locked into 3% rates, and they qualified and since then their wages have increased. I'm talking about homeowners only now this is not the case for renters. Renters are in a horrible place today. Horror, I've my heart bleeds for renters today because they they're spending most of their paycheck just trying to have a roof above their heads. It's a difficult time. That's why I've been on a mission to tell people buy a house because you can lock in your payment for 30 years and not worry about rent. But unfortunately, there's a lot of people who are unable to do that and that's the story. It's the renters and hopefully, you know, hopefully landlords will be able to provide affordable housing but it's hard you know, it's hard today because we're trying to build affordable housing and how can we do it when lumber went up? 100% or whatever like it's not easy, eight right la Los Angeles. I live in Southern California. I don't know you know that what happened here but la tried to build affordable housing with a grant you know, free government money. Do you know that that the homeless housing that they built cost 800,000 a unit for I kid you not the oh my gosh, housing 800,000 because it's Well, first of all, governments don't tend to know leave it to the efficient sector. Yeah but it's not easy.   So, you know, when you've got a situation now where the Federal Reserve stimulated the housing market when they shouldn't have, they misread even our Federal Reserve that is supposed to be controlling the economy wasn't because they were thinking that during COVID, there would be a slowdown. But of course, when you print 40% of the money that's circulating in two years, there's probably going to be an impact and of course, that impact is inflation and add to it that the Federal Reserve was buying mortgage backed securities to keep interest rates low. So and all this happened when you had the largest demographic ever, of first time homebuyers hitting the market, the millennials, age 28 to 34 biggest, biggest generation ever hitting the homebuyer age and they're very well educated, well paid people, low interest rates, and then add COVID where they could live anywhere. So a recipe for disaster that drove prices up. People think they're going to come crashing down. Tell me why. Tell me why people who are highly paid, qualified for the loan or locked into 3% loans are going to suddenly go, oh, no, rates are up. I'm going it's kind of like that scene and you know, where the roller machine is coming at? Oh, awesome. Yeah, there's no, it's not. That's not happening.   Michael: Yeah, well, that's such a good point because I think I would be remiss if we didn't talk about interest rates going up. But that's so much of one side of the equation we're hearing about, in order for people to buy properties at these higher interest rates, there needs to be inventory to sell. So talk to us about kind of that side of the equation as well.   Kathy: Yeah, no, it's a great point, you know, it kind of economics comes down to supply and demand, always, always, you know, you can, you can have 2% interest rates, but if nobody wants, whatever it is, that's out there, it doesn't matter and that was kind of what happened in in 2010-2011 and 12. You know, interest rates went so low, but no one was buying housing, because they were scared and there was a lot on the market. So a lot of lot of supply, not enough demand, it didn't matter that rates were low, of course, that that turned around, eventually. But here we are, you know, fast forward, this massive demographic of young people that are trying to just have a place to live. You know, this isn't stocks where you just invest, this is like your life. People want shelter. They don't necessarily want to live with mom and dad. They don't want to live in small apartments downtown as they're forming families and there was this crazy headline that millennials weren't going to form families. Well, not at 21 but they're their family forming age now, you know, like, right, right, right, who's gonna buy a house and have babies at 21… I don't know maybe in the Midwest, but not generally, today. So there was just a lot of misinformation. Again, don't trust the headlines, it's be careful about headlines and look at the data. Today we have a situation where building has been difficult and in 2008, 2000 2008 builders got absolutely wiped out and they were in no mood to get started and many couldn't and there wasn't financing for builders.   That's how I got started in syndications because builders came to me and they're like, I can buy land for almost nothing. I can't get money, can you? Can you raise money? I'm like, I don't know. Maybe it turns out I could and so we were able to buy land for almost nothing and you know, buy 4200 lots in Tampa for like 10 cents on the dollar was crazy. It was crazy. But there was no money. So builders just and there was no demand. So why would builders built and that didn't mean that that's applied and really thin out until like 20 I don't know 14 Maybe. So okay, and then being a builder now being someone that boy tough business. You know, that land that we bought in Tampa, we're just now finishing, you know, selling those lots because it takes so long to get infrastructure in place took 10 years to get the roads in and the utilities and stuff. It's not quick, and that's even in Florida and in our other subdivisions. They're all two or three years delayed and that's just us, you know, so think of all the builders out there that either don't have the appetite to do spec housing, they'll build to order basically but and now you know new homes tend to get hit the hardest when rates go up. So builders really aren't in the mood to to build at a time when it's so desperately needed and then add the supply chain issues and the you know, just the blame issues, it's hard to hire anyone and then during COVID, we had to shut down our site, the cities were shut down, we couldn't get permits, we couldn't get approvals and, and then you know, one person gets sick on the job site and you're shut down for two weeks, you come back to work and one other person gets, I mean, it's been hard to bring on new supply at a time when it's so desperately needed. So here we are higher home prices, higher, higher rates, less people able to buy homes, more people forced to rent, and the inventory is not there.   Michael: So you think that there is enough kind of demand pent up there with not nearly enough inventory now or on the horizon, that that demand is going to push through those elevated home prices and interest rates?   Kathy: You know, again, it just depends on the market. The mistake, I think in the headlines is that they keep treating it like it's a national housing market and you and I both know, that's just not the case. It's so market specific. So there are some areas that really boomed because people from the San Francisco Bay area or from New York, got the heck out of town because they could live anywhere and cities are not so exciting when everything shut down. So you have places like Boise that just bubble up but is it a bubble when it's California money moving to a cheap area. For them it's no bubble, you know and it's not like these Californians are gonna go, oh, you know, gosh, prices are stalling. Maybe I should sell it a loss. No, they bought a house in Boise because they want to live there, you know, they want a second home or whatever and it was cheap for them. So but do I see that continuing? Probably not. I think I'm guessing prices have kind of maxed out at Boise but I also don't see a crash. You know, same for Austin, these aren't places I wouldn't necessarily invest. I don't like investing in places that saw 40% growth year after year. You know, like I, I doubt that's going to continue. I want to be in areas where that hasn't happened yet. It's about to happen.   Michael: And so you that's perfect segue into my next question is how do you find the next Boise or the next Austin? What are you looking for and what should our listeners be looking for?   Kathy: Yeah, I mean, it's definitely a changing market and, again, that doesn't mean people aren't going to still be moving to Austin and Austin still looks really cheap for people from New York and San Francisco. So some of these areas where, where there's tech growth and job growth and jobs of the future kind of growth. It's going to continue. I mean, look at Miami, if you asked me if Miami would see the kind of growth it's had, I would have said no way. You know, everybody's afraid. It's got to be underwater. No one seems to care. Miami was the hottest market ever last year in the year that everybody's talking about climate change, I don't get that.   But you know, what you have? Is the financial sector moving there from New York. So, you know, do you want to live in New York City where it's cold and windy in the winter or do you want to live in Miami, like one? That's right, you're moving? Easy, so I wouldn't, I wouldn't buy there but what that tells me is people that are that lived in Miami who are getting priced out, they're gonna move kind of to other parts of Florida, that are cheaper and companies that you know, maybe are concerned about climate change, you're gonna move to parts of Florida, that aren't as risky. Texas, you know, look at Elon Musk, you see, he's part of a trend that's been going on for 10 years of, hey, there's two places that stayed open during the pandemic, Texas and Florida, maybe South Dakota, but no one wants to live there. So it's really Texas in Florida. If you want to have a business that stays open, you're gonna go there, so the businesses are going there and people are following.   Michael: Yeah, that makes total sense and Kathy, where do you go to get your information and to get your data, the raw data, not the politicized headlines, but these are the numbers, I want to use them to then interpret and come to conclusions? Where do you get those from?   Kathy: I just I really just interview people all the time that are in that are either longtime experienced investors and have been through cycles and, and understand fundamentals versus hype and I'm not saying not to be cautious. This is a time to be cautious, because we're in a changing market and we don't know how aggressive the Fed is going to be and we don't we don't know what's hot, what's coming. But the fundamentals work no matter what. So I listen to longtime investors who have been through cycles. I follow the I follow closely the federal reserve and what they're doing. I follow the Treasury, the 10 year treasury and this is you know, this tells me when there's all this concern that interest rates are continued going to continue to rise, the 10 year treasuries retreating and the Fed follows the market and the market is saying, we don't, you know, we don't see that inflation is going to continue forever, or that the markets gonna boom forever and if the markets not booming and there's not rampant inflation forever, you're not going to see interest rates continue to rise. You know, if the 10 year treasury is retreating, that tells you rates are going to come back at some point to, again, my opinion. Right. So, those are some of the things I follow. I follow Housing Wire Logan Mota Shami, I love what he says you see could be controversial, but he's to me, he's been he makes sense and just data I mean, it you just look, all you have to do is search mortgage payments on the Fred I look at that's the Federal Reserve and historical, you know, mortgage payments to income, and its lowest it's been, and then look at jobs. We're still at what 3.6% or something on unemployment, so super lawyers the recession… I usually you don't have a recession when you got jobs like that and continued job growth. You know, we've got job numbers coming out, and we're seeing growth. So I don't know, they got two jobs for every one American who wants them. So how is that a recession?   Michael: Right, right. Yeah, no, I'm with you 100% and Kathy quickly for investors, because we've talked a lot about and focus a lot about homeowners and owner occupants. But for investors who are just getting started, you know, looking at their fellow investors or hearing podcasts, everyone talks about double digit returns for long term buy and hold for cash flowing properties. Should people be adjusting their expectations now, if they're just getting into the game, because prices are higher and because interest rates have also gone up pr do you think rents have kept up with them over time…   Kathy: For us, and I don't know what you guys are seeing, we're seeing cap rates look pretty pathetic honestly, it doesn't look great. So that's a bummer but there's still parts of the country that where you can get pretty good cash flow. They're just not areas that excite me. There, there will always be linear markets, markets that kind of just are there, and you can cash flow in those markets, but you probably won't see appreciation and they haven't even appreciated in this crazy bull run that we've had. So yeah, if something goes wrong, you know, your roof to change your roof, or you know, and I own these kind of properties. You have a plumbing issue, man, there goes your yours cashflow. So, you know, I like cash flow, but I would rather be in areas that are experiencing growth and in those markets, the cashflow is just not great. So I've been telling people, if you're you know, if you're it depends on what you're trying to do and if you're trying to create a retirement for yourself, and you're not needing the cash flow right now, don't worry about it, think about the future and ask yourself, where do I think this property will be 10 years from now, maybe 20 years from now…You know, that's what matters more, because you can make cash flow today, you know, if you're young get a get a job, you know, that should be your cash flow. You're here to give your gift to the world.   We don't have an economy if people aren't working and contributing, you know, you were not really meant to come here and retire at 30. I don't think you know, right. So if your job your cash flow and have that job is something that you're great at and you love to do and contributes to society, and have your real estate be what happens when you're you don't want to work anymore and maybe that's 40, maybe that's 50, it shouldn't be 30 if it is good for you. But you know, I look at it, like buy something that is going to hold up in the long run and be in an area where there's growth. Because my experience has been that's where the big bucks are made. We had a single family rental fund that we just closed out. I know you guys, you do lots of funds and what we found in our fund, we bought properties and growth markets and then we bought some cash flow markets to kind of offset and that's how we've always promoted things is like hey get your cash flow properties and get your not so cashflow but growth properties and you know, balances. What we found is that the cash flow properties ended up with like a 8% return or so and the growth properties were like 40% like there was no comparison between the two. So for the long term, you know, get into the hot markets where people want to live and where the where the demographics are moving to and don't worry so much. I mean, obviously the cash flow should cover your expenses. But it's the returns have definitely gone down but that's not preventing me from buying in those areas because you're right, what was it was such a limited supply of inventory. When you're in markets where people are moving to, you're going to see rents go up over time. So never judge a property on the first year of the performer. Don't do that have a five year or a 10 year or a 20 year pro forma, because the first year is always going to be the worst and you know, because you're paying closing costs and, and your rents are, you know what they are that year…   Michael: But you're finding stuff you missed in the inspection and…   Kathy: All of that… So, but year two, year three or four, just like with apartments, you don't buy an apartment based on your first year. You know, you buy it based on what it's going to do for you. You know, if you're gonna buy an old car, you're gonna you're getting an old car, if you're gonna buy a new car. I mean, I, you shouldn't really compare real estate to cars but I gotta tell you this time, it kind of make sense, rich, and I both own Tesla's that we bought Rich's early adopter. So he bought the first ones. They're worth, like $10,000, more than we paid years ago, the value has gone up on our tests, as I think that's funny, you know, usually, values go down, because of lack of supply, they can't get batteries and who wouldn't want a battery operated car?   Michael: You know, it's like 615...   Kathy: Yeah, that's right… So that's driving prices up. It's the same thing with real estate. You know, people want a place to live, and they want to lock in their rate, and they're going to lock it in and anyway, it's the same and it's the same as an investor, you're buying in an area where people are moving to you are locking into a rate if there's not enough supply, for all the people moving in, you're gonna see rents go up over time.   Michael: That makes total sense. Kathy, this has been so eye opening, super, super fun. If people want to learn more about you reach out to you learn more about your fund, where's the best place to do that?   Kathy: You can go to realwealth.com and join it's free and you get access to lots of free information and data and then the real wealth show is my podcast and I interviewed lots of economists there. So that's helpful in trying to sort out what's really going on out there.   Michael: Amazing, amazing. Well, thank you again for coming on. Definitely look forward to being in touch and we'll talk soon.   Kathy: Awesome, thanks for having me.   Michael: Thanks!   All right, everyone. That was our episode a big big, big thank you to Kathy for coming on. Super insightful, really, really informative and I love that way to be data driven and not get swept away by the headlines. As always, if you'd like the episode, we'd love to hear from you with a rating or review wherever it is you get your podcasts and we look forward to the next one. Happy investing…