Podcasts about cpi

US equity futures point to a modestly firmer open, while Asian markets traded broadly higher and European equities edged up. Today focus is on disinflation momentum and central bank cross-currents, after a softer-than-expected US core CPI reinforced the dovish Fed narrative and helped drive a rebound in technology and AI-linked stocks; Attention remains on Japan after the Bank of Japan delivered a widely expected rate hike while maintaining accommodative guidance, weakening the yen and pushing JGB yields above 2%; AI sentiment remains a key driver following Micron's upbeat outlook and renewed optimism around AI funding and capex, even as markets continue to reassess the durability and monetization path of the AI trade.Companies Mentioned: OpenAI, TikTok, NVIDIA

November inflation data came in lower than expected, according to the latest CPI report. But we can't compare it to the previous month, since the BLS skipped several October reports. And data collection began late thanks to the shutdown, right in the middle of retailers' Black Friday sales. In this episode, key caveats to the November CPI. Plus: Experts cautiously predict a more balanced housing market in 2026, tech stocks take a hit as data center debt climbs, and a growing number of politicians reject economists' expertise.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Democrats have dismissed Trump's military bonus, and heads were spinning at CNN because they couldn't spin the CPI.  Visit the Howie Carr Radio Network website to access columns, podcasts, and other exclusive content.

November inflation data came in lower than expected, according to the latest CPI report. But we can't compare it to the previous month, since the BLS skipped several October reports. And data collection began late thanks to the shutdown, right in the middle of retailers' Black Friday sales. In this episode, key caveats to the November CPI. Plus: Experts cautiously predict a more balanced housing market in 2026, tech stocks take a hit as data center debt climbs, and a growing number of politicians reject economists' expertise.Every story has an economic angle. Want some in your inbox? Subscribe to our daily or weekly newsletter.Marketplace is more than a radio show. Check out our original reporting and financial literacy content at marketplace.org — and consider making an investment in our future.

Nike and Fedex on the move after reporting results. The details from those quarters, and why today's delayed CPI data isn't calming one market forecaster's inflation worries. Plus Shares of Insmed taking a dive as the company discontinues development of a key drug after disappointing trial results. What it means for Insmed's future, and what one health care analyst sees in store for the broader sector.Fast Money Disclaimer Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Market Recap: Thursday, December 18 - Modest Gains and Inflation Insights In this episode of Dividend Cafe, host Brian Szytel provides an update on the market movements for Thursday, December 18. The DOW closed with a modest gain of 65 points (0.14%), S&P increased by 0.8%, and NASDAQ saw a tech-led rally with a 1.38% rise. Despite a rebound, the week is expected to end negatively for stocks overall. A key focus is the release of the latest CPI print, which showed a surprisingly low inflation rate of 2.7% versus the expected 3.1%, but the numbers are questionable due to a government shutdown affecting data collection. Initial jobless claims came in line with consensus at 224,000, while continuing claims were slightly below expectations. The Philly Fed Index reported a weaker-than-expected manufacturing number at -10 versus the expected +3. Brian also discusses the interplay between inflation rates and the role of the Fed, emphasizing that market forces and money supply are critical factors. He wraps up with light-hearted remarks about holiday shopping and extends holiday greetings to viewers. 00:00 Market Update: December 18th 00:10 Stock and Bond Performance 00:59 CPI Report Analysis 02:01 Economic Calendar Highlights 02:45 Inflation and The Fed's Role 04:24 Closing Remarks and Holiday Wishes Links mentioned in this episode: DividendCafe.com TheBahnsenGroup.com

On this episode of Fox Across America, Jimmy Failla analyzes President Trump's primetime Oval Office address in which he highlighted the deliverables his administration has accomplished for Americans over the last 11 months. Arizona Republican Congressman Andy Biggs explains why he's optimistic the U.S. economy is primed for a big year in 2026 thanks to the president's policies. PLUS, comedian and founder of the Manhattan Comedy School Andy Engel makes his show debut and talks about how stand-up comedy can help people deal with hardships in their lives. [00:00:00] Recapping Trump's primetime Oval Office address [00:39:57] Media grudgingly reports on positive CPI report [00:59:03] Rep. Andy Biggs [01:13:57] Piers Morgan presses Candace Owens on conspiracies [01:35:40] Andy Engel Learn more about your ad choices. Visit podcastchoices.com/adchoices

A delayed inflation report shows consumer prices rose 2.7% over the past year, coming in below economist expectations. Core inflation, which excludes food and energy, increased 2.6% year over year. In this episode of Real Estate News for Investors, producer Kailyn Bennett breaks down why this CPI report looks different than usual, following a government shutdown that disrupted October data collection. Some figures reflect a two-month window, rather than standard month-to-month changes, adding important context for investors. We look at what's driving inflation now — including food, energy, and shelter costs — and how markets reacted to the softer-than-expected data. 

What you'll learn in this episode:The only three reasons sales results stall: frequency, messaging, or audienceWhy asking questions first builds confidence and skill through repetitionHow consistency beats intensity with a simple 30-minutes-a-day formulaWhy lead generation should be rescheduled—not skippedHow celebrating actions (CPI time) creates predictable success To find out more about Dan Rochon and the CPI Community, you can check these links:Website: No Broke MonthsPodcast: No Broke Months for Salespeople PodcastInstagram: @donrochonxFacebook: Dan RochonLinkedIn: Dan RochonTeach to Sell Preorder: Teach to Sell: Why Top Performers Never Sell – And What They Do Instead

[깊이 있는 경제뉴스] 1) ‘오라클 쇼크'로 내린 美 증시.. 마이크론이 되살렸다 2) 미국 제재에도.. 중국 AI 반도체, 자립 초읽기 3) 산업용 전기요금 개편, 낮엔 낮추고 밤엔 올린다 4) 미국 11월 CPI 2.7% 올랐다..예상치 큰폭 하회 - 서영태 연합인포맥스 기자 - 박세훈 작가 - 김아름 머니투데이방송 기자

Andrew, Ben, and Tom discuss this morning's CPI data, Micron's earnings, and Trump's address to the nation.Song: YMCA (Christmas Version) - Furnace and the FundamentalsFor information on how to join the Zoom calls live each morning at 8:30 EST, visit:https://www.narwhal.com/blog/daily-market-briefingsPlease see disclosures:https://www.narwhal.com/disclosure

MRKT Matrix - Thursday, December 18th S&P 500 snaps 4-day losing streak, boosted by cooler-than-expected inflation data (CNBC) Trust these numbers? Economists see a lot of flaws in delayed CPI report showing downward inflation (CNBC) Friday could be a wild day of trading on Wall Street. Here's why (CNBC) Trump Praises Waller and Bowman, Says Fed Pick Coming in Weeks (Bloomberg) Coinbase Joins With Kalshi to Enter the Surging Prediction-Markets Business (WSJ) Trump signs executive order reclassifying cannabis, opening door to broader weed access (CNBC) --- Subscribe to our newsletter: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://riskreversalmedia.beehiiv.com/subscribe⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ MRKT Matrix by RiskReversal Media is a daily AI powered podcast bringing you the top stories moving financial markets Story curation by RiskReversal, scripts by Perplexity Pro, voice by ElevenLabs

The S&P 500 starts today on a four-day losing streak ahead of an ECB rate decision and U.S. CPI. Analysts expect a 0.3% headline inflation rise. FedEx and Nike report later today.Important DisclosuresThis material is intended for general informational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.Past performance is no guarantee of future results.Diversification and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets.Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors.All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.Investing involves risk, including loss of principal, and for some products and strategies, loss of more than your initial investment.Digital currencies [such as bitcoin] are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view digital currencies as a purely speculative instrument.Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended. Please read more about risks of trading cryptocurrency futures here.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries.Google Podcasts and the Google Podcasts logo are trademarks of Google LLC.Spotify and the Spotify logo are registered trademarks of Spotify AB.(0131-1225) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

⬜ Welcome to Palvatar Market Recap, your go-to daily briefing on the latest market movements, global macro shifts, and crypto trends—powered by Raoul Pal's AI avatar, Palvatar. ⬜ In today's update, Palvatar breaks down mixed global market moves as investors weigh delayed U.S. jobs data and rising hopes for future Fed rate cuts ahead of key CPI figures. Geopolitical tensions lift oil prices following new U.S. action on Venezuela, while Tesla and Amazon rally on AI-driven optimism. Europe and Asia react to soft inflation, strong exports, and blockbuster tech IPOs, as crypto adoption advances despite falling memecoin hype.

SpaceX IPO coming – huge increase in valuation over past 3 months Happy Hanukah – Eight Crazy Nights Now Kevin AND Kevin PLUS we are now on Spotify and Amazon Music/Podcasts! Click HERE for Show Notes and Links DHUnplugged is now streaming live - with listener chat. Click on link on the right sidebar. Love the Show? Then how about a Donation? Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter Warm-Up - Last Chance for CTP Cup 2025 participants - Happy Hanukah - Eight Crazy Nights - Sad News - Rob Reiner - Fed decision is out.... - Overdue eco reports coming this week Markets - Oracle still problematic - SpaceX IPO coming - huge increase in valuation over past 3 months - Another Bankruptcy - cleaning up is not good business - Oh my - Now Kevin AND Kevin - Weight loss game continues - One thing saved for last - a doozie... Tesla -  - All time High - Prospect of Robotaxi - Even though sales hitting multi-year lows Wall Street Never Sleeps? - Nasdaq files to extend trading to 23 hours on weekdays - Banks concerned about investor protections, costs, liquidity, volatility risks of nonstop trading - Proponents argue round-the-clock trading benefits global investors - That may create some additional volatility potential SpaceX - SpaceX aims for a potential $1.5 trillion market cap with an Initial Public Offering in 2026, which could become the largest IPO in history - July 2025 tender valuation was $400B - Dec 14th (4 months later) $800B - Starlink is the primary money winner of this deal - Tesla shares climbing even with nothing behind it - seemingly in sympathy for this IPO ---- TESLA does not have ownership of SpaceX - OH - this could be the reason....U.S. deliveries dropped significantly in November—the lowest since early 2022—but this weakness has been overshadowed by the enthusiasm for autonomy. Rob Reiner - A son of legendary Hollywood director Rob Reiner and his wife, producer Michele Singer Reiner, Nick Reiner, is being held on suspicion of murder following their deaths, according to Los Angeles Police Department Chief Jim McDonnell. He's being held on $4 million bail. - Citing law enforcement sources and family friends, ABC News reported on Monday that Nick Reiner had recently returned to live at his parents' South Chadbourne Avenue home. The move was described as a temporary arrangement intended to help him stabilize. - Not going to discuss the Truth Social post about this tragedy HEADLINE ALERT - "Copper could hit ‘stratospheric new highs' as hoarding of the metal in U.S. continues" - Copper has gone from 5.77 to 5.30 (July to today) - 6 Tops at this price since 2011 - Not seeing this as per the headline - seems like a Hunt Brothers special from the 1980s - CORNERING THE MARKET ---1980 - Silver went from $11 to $50 then crashed, bankrupting the Hunt Bros - after COMEX changed rules forcing them to cover positions Bankruptcy - After 35 years, the maker of the Roomba robot vacuum filed for bankruptcy protection late Sunday night. Following warnings issued earlier this year that it was fast running out of options, iRobot says it is entering Chapter 11 protection and will be acquired by its contract manufacturer, China-based Picea Robotics. - The company says it will continue to operate “with no anticipated disruption to its app functionality, customer programs, global partners, supply chain relationships, or ongoing product support.” - Remember that Amazon  - The Amazon buyout of iRobot, maker of Roomba, was announced in 2022 for $1.7 billion but ultimately failed in January 2024 due to significant regulatory pushback, primarily from the EU, over anti-competitive concerns. -- Amazon walked away with a $94 million termination fee Fed Pick - President Donald Trump said Friday that Kevin Warsh has moved to the top of his list as the next Federal Reserve chair, though Kevin Hassett also remains in contention, according to the Wall Street Journal. - Interesting that this comes days after Hassett said that we would not let outside suggestions influence his voting - ---In addition to putting heavier weight on Warsh getting the job, Trump repeated an assertion he has made in the past that the Fed chair ought to consult the president about interest rate decisions. - Also of interest, prediction markets had Hassett at 95% probability - now it moved to 50% - big payday for people in the know. Housing Prices - Average home price is DOWN on  year-over-year basis - First time on national level since 2024 - Active listings in November were nearly 13% higher than November 2024, but new listings were just 1.7% higher --- Houses are on market longer - - Prices in Austin, Texas, are down 10% from last year; in Denver, they're down 5%, according to Parcl Labs. Tampa, Florida, and Houston both saw prices fall 4%, and Atlanta and Phoenix saw price decreases of 3%. More Hosing Related -  Zillow shares plunged more than 9% on Monday on worries that the online real estate platform could have a big new competitor: Google Search. - Google appears to be running tests on putting real estate sale listings into its search results. Overdue Eco  - Black Hole - The U.S. Bureau of Labor Statistics on Tuesday releases its long-awaited combined employment reports for October and November, but a number of key details will be missing after the government shutdown prevented data collection, including October's unemployment rate, resulting in the first-ever gap in that critical data series since inception in 1948. - NICE JOB GANG! - Some of the data will be estimated. - It said it would not publish the headline CPI number or the so-called core CPI, which strips out the volatile food and energy components, for October. "BLS cannot provide specific guidance to data users for navigating the missing October observations," the agency said. Some Updates - Some info coming in are estimates - some delayed - Unemployment at 4.6% - Latest report shows +64,000 added - ISM Manufacturing and Non-manufacturing - both slowed over the last month The Fed - Meanwhile the Fed cuts rates.... - A Federal Reserve split over where its priorities should lie cut its key interest rate Wednesday in a 9-3 vote, but signaled a tougher road ahead for further reductions. - The FOMC's “dot plot” indicated just one more reduction in 2026 and another in 2027, amid considerable disagreement from members about where rates should head. - In addition to the rate decision, the Fed also announced it will resume buying Treasury securities. The central bank will start by buying $40 billion in Treasury bills, beginning Friday. - Markets were all over the place on this as it was a little confusing at first - then it seemed that everyone loved (for one day) - Why is the Fed moving up Treasury purchases to "immediately" from a few months from now? - AND - dissension ! A larger group  that usual of regional Fed bank presidents signaled they opposed the cut, and six policymakers said the benchmark federal funds rate should end 2025 in a range of 3.75% to 4%, suggesting they opposed the move. - Long bonds have not moved at all on this news. Costco Earnings - Costco beat Wall Street's fiscal first-quarter sales and revenue expectations. - Sales rose 8.2% and digital sales jumped 20.5% compared with the year-ago quarter. - Costco surpassed Wall Street's quarterly expectations and posted year-over-year sales growth of 8.2% as the retailer attracted more digital sales and opened new locations. - Earnings per share: $4.50 vs. $4.27 expected - Revenue: $67.31 billion vs. $67.14 billion expected - Costco does not provide year ahead guidance - Shares down from a recent high of $855 Costco Fun Facts - About 4.5 million pies were sold in the three days before Thanksgiving, which is equivalent to roughly 7,000 pies per warehouse. -  These were bakery pies (e.g., pumpkin, apple), - Costco had more than $250 million in non-food online orders on Black Friday, a record for Costco's U.S. e-commerce business. - Approximately 358,000 whole pizzas were served at Costco's U.S. food courts, a 31% jump from last year. (500 pizza's per store) Fat No More - Retatrutide - Eli Lilly said its next-generation obesity drug delivered what appears to be the highest weight loss seen so far in a late-stage trial and reduced knee arthritis pain, clearing the first of several upcoming studies on the weekly injection. - In a 48-week Phase 2 study, participants on the highest dose lost an average of 24% of their body weight. - Recent Phase 3 results showed patients on the highest dose lost an average of 28.7% of their body weight after 68 weeks. - The trials also showed improvements in related health conditions, including knee osteoarthritis pain, blood pressure, and liver fat - This triple action is what makes retatrutide potentially more effective for weight loss than existing medications like Zepbound (tirzepatide), which targets two receptors, or Wegovy (semaglutide), which targets only one. Paypal - PayPal Holdings Inc. applied to become a bank in the US, looking to take advantage of the Trump administration's openness to financial-technology companies entering the banking system. - The payments-focused firm submitted applications to the Federal Deposit Insurance Corp. and the Utah Department of Financial Institutions to form a Utah-chartered industrial loan company, PayPal said in a statement Monday. - If approved, PayPal Bank would help the firm bolster its small-business lending capabilities, according to the statement, which said the company has provided access to more than $30 billion in loans and capital since 2013. Ford - Management Confused - Instead of planning to make enough electric vehicles to account for 40 percent of global sales by 2030—as it pledged just four years ago—Ford says it will focus on a broader range of hybrids, extended-range electrics, and battery-electric models, which executives now say will account for 50 percent of sales by the end of the decade. - The automaker will make hybrid versions of almost every vehicle in its lineup, the company says. - All in on EVS cost them -  Ford expects to record about $19.5 billion in special items, mostly during the fourth quarter. ---- The charges are related to a restructuring of its business priorities and a pullback in its all-electric vehicle investments. Australia - Australia has implemented a groundbreaking ban preventing children under 16 from accessing major social media platforms like TikTok, Instagram, and Facebook, effective December 2025, to protect them from harm, with significant fines for companies failing to enforce it, though messaging apps and gaming platforms are currently exempt. - Reddit is suing - Facebook, Instagram, Snapchat, Threads, TikTok, X (Twitter), YouTube, Reddit, Kick, and Twitch are all banned for kids under 16. - Thoughts on this? Saved For Last - Of all the eye-popping numbers that Oracle Corp. published last week on the costs of its artificial-intelligence data center buildout, the most striking didn't appear until the day after its earnings press release and analyst call. - The more comprehensive 10-Q earnings report that appeared on Thursday detailed $248 billion of lease-payment commitments, “substantially all” related to data centers and cloud capacity arrangements, the business-software firm said. These are due to commence between now and its 2028 financial year but they're not yet included on its balance sheet. - That's almost $150 billion more than was disclosed in the footnotes of September's earnings update. Love the Show? Then how about a Donation? The Winner for iShares Bitcoin Trust ETF (IBIT) Winners will be getting great stuff like the new "OFFICIAL" DHUnplugged Shirt! CTP CUP 2025 Participants: Jim Beaver Mike Kazmierczak Joe Metzger Ken Degel David Martin Dean Wormell Neil Larion Mary Lou Schwarzer Eric Harvey (2024 Winner) FED AND CRYPTO LIMERICKS See this week's stock picks HERE Follow John C. Dvorak on Twitter Follow Andrew Horowitz on Twitter

Micron reports later with investors still digesting Tuesday's jobs data. CPI data, FedEx, and Nike loom Thursday, with tech shares under a microscope for potential signs of life.Important DisclosuresThis material is intended for general informational purposes only. This should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decisions.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.Past performance is no guarantee of future results.Diversification and rebalancing strategies do not ensure a profit and do not protect against losses in declining markets.Indexes are unmanaged, do not incur management fees, costs, and expenses and cannot be invested in directly. For more information on indexes, please see schwab.com/indexdefinitions.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.Fixed income securities are subject to increased loss of principal during periods of rising interest rates. Fixed income investments are subject to various other risks including changes in credit quality, market valuations, liquidity, prepayments, early redemption, corporate events, tax ramifications, and other factors.All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.Investing involves risk, including loss of principal, and for some products and strategies, loss of more than your initial investment.Digital currencies [such as bitcoin] are highly volatile and not backed by any central bank or government. Digital currencies lack many of the regulations and consumer protections that legal-tender currencies and regulated securities have. Due to the high level of risk, investors should view digital currencies as a purely speculative instrument.Cryptocurrency-related products carry a substantial level of risk and are not suitable for all investors. Investments in cryptocurrencies are relatively new, highly speculative, and may be subject to extreme price volatility, illiquidity, and increased risk of loss, including your entire investment in the fund. Spot markets on which cryptocurrencies trade are relatively new and largely unregulated, and therefore, may be more exposed to fraud and security breaches than established, regulated exchanges for other financial assets or instruments. Some cryptocurrency-related products use futures contracts to attempt to duplicate the performance of an investment in cryptocurrency, which may result in unpredictable pricing, higher transaction costs, and performance that fails to track the price of the reference cryptocurrency as intended. Please read more about risks of trading cryptocurrency futures here.The Schwab Center for Financial Research is a division of Charles Schwab & Co., Inc.Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries.Google Podcasts and the Google Podcasts logo are trademarks of Google LLC.Spotify and the Spotify logo are registered trademarks of Spotify AB.(0131-1225) Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

European futures pint to the green and the UK government is buoyed by the November CPI year-on-year print which came in 0.3 per cent lower than expected. The services CPI is down 0.2 per cent, beating expectations for the month. CNBC sources have learned that Open AI is in talks with Amazon over a potential tie-up worth more than $10bn following Sam Altman's negotiations with Microsoft which allows the firm to reach across the tech sector. Crude prices edge higher after President Trump's classification of the Maduro regime in Venezuela a foreign terrorist organisation as well as ordering of a blockade of sanctioned oil tankers. The Venezuelan government says the move is in breach of international law.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Guy Adami and Liz Thomas from SoFi discuss the impact of recent Federal Reserve decisions on the market. They analyze the Fed's dovish rate cuts and the implications of its plans to buy $40 billion in treasuries. The conversation shifts to the underperformance of Bitcoin despite expectations for a boost from the Fed's liquidity actions. They explore broader market trends, including the recent Empire Manufacturing Survey's dismal results, and upcoming significant economic data releases such as the unemployment rate and CPI numbers. The episode concludes with insights into the potential future of the AI revolution and its market implications for 2026. Timecodes 0:00 - Fed Speak & BTC 6:15 - Data Talk 13:20 - Jobs/Inflation 19:00 - AI Revolution —FOLLOW USYouTube: @RiskReversalMediaInstagram: @riskreversalmediaTwitter: @RiskReversalLinkedIn: RiskReversal Media

Recently I posted and advertisement for guns on Facebook and X it was from 1972.  Featuring things like a Remington 1100 for 144 dollars and a Marlin 30-30 for 80 bucks.   A few people who I do applaud for doing the math pointed out that things like the Mossberg pump at 64 bucks was actually a little more expensive in 72 vs. today if measured against CPI inflation. Again I applaud anyone for doing math but OF COURSE IT TRACKS WITH INFLATION.  Yes, inflation tracks with inflation, shocking!  Seriously what actually matters is real cost, not dollar cost.  The dollar … Continue reading →

⬜ Welcome to Palvatar Market Recap, your go-to daily briefing on the latest market movements, global macro shifts, and crypto trends—powered by Raoul Pal's AI avatar, Palvatar. ⬜ In today's update, Palvatar breaks down a packed macro week featuring major central bank decisions from the ECB, BoJ, and BoE, alongside key U.S. data including non-farm payrolls, retail sales, and CPI. Global equities show mixed signals as Europe rebounds, Asia struggles with China's slowing economy, and Wall Street stabilizes. Meanwhile, crypto markets dip despite continued institutional adoption and regulatory developments.

Futures pointed to up arrows ahead of Monday's trading session, starting the final full week of trading for 2025. Kevin Hincks warns investors that economic data, delayed or otherwise, will impact a lot of the action. He points to October's core PCE paired with November's CPI and unemployment as highlights. However, Kevin says the Santa Claus rally is coming even if it's a little delayed. He touches on President Trump's comments that he sees Kevin Hassett or Kevin Warsh heading the FOMC after Jerome Powell. ======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

Greg Halter thinks smaller names could begin to catch up to the tech sector and notes that this time of year is historically strong. He previews jobs and inflation data and says price decreases in the CPI are primarily led by the housing sector. He names some healthcare picks, including Stryker (SYK), Steris (STE), UnitedHealth (UNH), and Amgen (AMGN). Greg also likes energy, including Alliant Energy (LNT), NextEra Energy (NEE), Sempra (SRE), and Southern Company (SO).======== Schwab Network ========Empowering every investor and trader, every market day. Subscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/ About Schwab Network - https://schwabnetwork.com/about

Sixteen people have been killed in Australia’s worst terrorist attack after gunmen opened fire on Jewish people who had gathered to celebrate the first day of Hanukkah at Sydney’s iconic Bondi Beach on Sunday evening. Bloomberg's Paul Allen reports from the scene. Japan’s December large manufacturers Tankan rose to 15 from 14 in the previous quarter, Bank of Japan data showed. Westpac Head of Business and Industry Economics Sian Fenner previews the week ahead for eco data. Investors are looking towards the New Year. Eric Teal, Chief Investment Officer for Comerica Wealth Management discusses the upcoming CPI and University of Michigan Consumer Sentiment data, as well as the monetary picture for 2026.See omnystudio.com/listener for privacy information.

Brian Shactman and Jill Schlesinger discussed the upcoming economic data releases, including jobs numbers for November and the CPI report. Schlesinger noted that the labor market is in a "low, higher, low fire market" with minimal hiring and firing, except in certain industries. She highlighted that the economy is growing due to increased spending on AI and wealthier Americans, but job creation has slowed significantly, with only 76,000 jobs created through September 2024. Schlesinger emphasized the challenges faced by young college graduates in finding jobs, advising them to focus on adaptability and skills rather than specialization.

In this week's episode of WSJ's Take On the Week, co-host Telis Demos and guest host Hannah Erin Lang discuss the Federal Reserve's recent rate cut and whether further easing is expected in 2026. They get into the upcoming CPI report, which is expected to show stubborn inflation, and how that could pressure consumer stocks like Nike and General Mills. The hosts also look at the busy slate of global central bank decisions from the EU, the U.K., and Japan — highlighting how a potential rate hike from the Bank of Japan could impact the U.S. dollar. They also discuss whether the latest jobs report reveals the growing impact of artificial intelligence on the labor market? After the break, Telis is joined by Ajay Rajadhyaksha, global chairman of research at Barclays, to explore the relationship between AI and the economy. Rajadhyaksha explains why he doesn't see AI causing net job losses yet, but rather a slowdown in new hiring and wage pressure. He argues that the huge amount of AI spending is keeping the economy growing right now. However, he warns that if the AI investment falters, there could be consequences for the U.S. economy. Finally, Ajay offers his take on why investors should look to markets like Japan and Korea for AI opportunities. This is WSJ's Take On the Week where co-hosts Gunjan Banerji, lead writer for Live Markets, and Telis Demos, Heard on the Street's banking and money columnist, cut through the noise and dive into markets, the economy and finance—the big trades, key players and business news ahead. Have an idea for a future guest or episode? How can we better help you take on the week? We'd love to hear from you. Email the show at takeontheweek@wsj.com. To watch the video version of this episode, visit our WSJ Podcasts YouTube channel or the video page of WSJ.com Further Reading Tens of Thousands of White-Collar Jobs Are Disappearing as AI Starts to Bite How the U.S. Economy Became Hooked on AI Spending More Big Companies Bet They Can Still Grow Without Hiring The AI Data-Center Boom Is a Job-Creation Bust For more coverage of the markets and your investments, head to WSJ.com, WSJ's Heard on The Street Column, and WSJ's Live Markets blog. Sign up for the WSJ's free Markets A.M. newsletter. Follow Gunjan Banerji here and Telis Demos here. Learn more about your ad choices. Visit megaphone.fm/adchoices

New Laws Impacting Landlords & Realtors in 2026: What You Need to Know for Los Angeles & California Stay ahead of the curve! This seminar breaks down crucial new laws taking effect January 1, 2026, that will significantly impact landlords, property managers, and realtors in Los Angeles and across California. We'll cover: Los Angeles RSO Updates: Changes to rent surcharges, a new CPI-based rent adjustment formula, and the elimination of extra add-ons for utilities. Tenant Rights: New requirements for appliances in rental units (AB 628) and the right to opt out of bundled internet fees (AB 1414). Security Deposit Refunds: Electronic return requirements and new rules for multiple tenants (AB 414). Eviction Protections: The "Social Security Tenant Protection Act" (AB 246) and its impact on eviction timing. AI in Real Estate: Mandatory disclosure for digitally altered or AI-generated listing images (AB 723). Smoking Disclosures: New requirements for disclosing tobacco/nicotine residue in residential transactions (AB 455). Don't miss out on this essential information to ensure compliance and protect your investments. Tune in to understand how these legislative changes will shape the real estate landscape in the coming year! #LandlordLaws #RealtorUpdates #CaliforniaRealEstate #LosAngelesRSO #PropertyManagement #RealEstateLaw #2026Laws #TenantRights #AIDisclosure #SecurityDeposits

Kia ora,Welcome to Monday's Economy Watch where we follow the economic events and trends that affect Aotearoa/New Zealand.I'm David Chaston and this is the international edition from Interest.co.nz.And today we lead with news today dominated by the vile attack in Sydney, extremism begetting extremism all permitted by unfiltered hatreds flowing out from its center. Financial news seems trivial in light of this. Of course we won't be covering this Australian tragedy. But it is likely to harden attitudes just when they need to soften.In the meantime, we are noting tech weakness dominating equity markets, and Fed speaker comments (here and here) pushing long benchmark bond yields higher. The USD is soft and down nearly -1% for the week. But first, the week ahead will locally feature Wednesday's current account data, and more so by Thursday's GDP tracking of Q3-2025 economic activity. The final consumer and business confidence survey results will likely come this week too.In Australia on the economic front, it will be about tracking household wealth, also out on Thursday.In the US, they will release catch-up data for non-farm payrolls on Wednesday for both October (??) and November. (+35,000 expected) That will be followed by November CPI data (3.2% expected). A slew of other US activity data will hit the news as well.In Japan, financial markets will be glued to their central bank meeting results (expect a +25 bps rise to 0.75%) along with a 3%+ CPI reading. From China, they will have their big monthly data dump of retail and industrial activity. In India they will release a lot of data too, including PMIs, but then, we will also get PMIs from many other countries, including our own PSI as well.Over the weekend, China said its new loan demand remains unusually weak, and in November came in even lower than the weak forecasts by observers. Chinese banks extended ¥390 bln in new yuan loans, up from the unusually low October level but still below both last year's weak ¥580 bln and market expectations of ¥500 bln. Soft household demand continues to weigh on stimulus efforts. Remember, over the past five years, this loan demand has averaged ¥830 bln in a November month so the current drag is notable.And it is looking increasingly like investors, including boardroom directors in charge of making capital expenditure decisions, have goner on a quiet strike in China.And staying in China, things just got worse for wavering China Vanke on Friday, once one of China's largest property developers. The Shenzhen-city controlled business was unable to get bondholder support for its latest financial restructuring. So current lenders took more of its assets as security.India's CPI inflation remains very low at +0.7% in November from a year ago, up from its record low level in October. This was driven by an almost -4% fall in food prices.India's bank loan growth is back up +11.5% from a year ago and its fastest expansion this year.In Malaysia, both their retail sales (+7.2% year-on-year) and their industrial production (+6.0%) expanded at an accelerating pace in October data released overnight.In Japan, it is becoming clear (from company financial reporting) that the Trump tariffs on Japanese exports have backfired. Japanese companies raised their prices after the initial tariff hit, the Americans paid the higher prices, and when Washington backed away from some of the more extreme levels after negotiation, and those hiked prices didn't retreat. They stayed up and boosted Japanese company profits. The picture was probably similar elsewhere. The ultimate losers have been the American buyers. American reshoring has been weak, so much so that one Fed member is now more worried about jobs than inflation.Canadian building consents surprised analysts with quite a surge in October, especially residential consents for multi-unit buildings in Toronto. That drove an outsized +15% national gain from September to be +19% higher than a year ago. On an annual basis, residential consents are also up +19% with Ontario up more than +28%.The UST 10yr yield is now at 4.20%, unchanged from this time Saturday, up +6 bps from this time last week. The price of gold will start today at US$4299/oz, and up +US$5 from Saturday, up +US$84 from a week ago and back near its mid-October peak. And we should note that silver unchanged at US$62/oz.American oil prices are holding at just on US$57.50/bbl, while the international Brent price is down -50 USc at just over US$61/bbl. Both are -US$2.50 lower than a week ago. Separately, it is very noticeable that the North American rig counts are still languishing near their four year lows. No-one is rushing to invest as prices and demand stay very low.The Kiwi dollar is -10 bps softer from Saturday, now at just over 58 USc. But it is up +430 bps from a week ago. Against the Aussie we are unchanged at 87.2 AUc. Against the euro we are unchanged too at 49.4 euro cents. That all means our TWI-5 starts today at just under 62.2, and up +10 bps from Saturday, up +20 bps for the week.The bitcoin price starts today at US$88,831 and down -1.6% from this time Saturday, and and essentially unchanged from last week at this time. Volatility over the past 24 hours has been low, at just on +/- 0.9%.You can get more news affecting the economy in New Zealand from interest.co.nz.Kia ora. I'm David Chaston. And we will do this again tomorrow.

Mujeres musulmanas podrán usar hiyab en pasaporte mexicano  México recaudará 70 mmdd con nuevos aranceles, dice Ebrard  Venezuela da primer paso para salir de la Corte Penal InternacionalMás información en nuestro Podcast

December seems to have been marked by dissents and divisions within and among central banks across the globe. We discuss the impact of the Fed's cut on the US Dollar, as well as preview the upcoming jobs report and CPI data in the US after the government shutdown. We also preview our expectations of contrasting European Central Bank and Bank of England decisions, as well as Bank of Japan, Bank of Thailand, and Bank Indonesia meetings which are also set to deliver likely diverging decisions. Chapters: US: 02:13, Europe: 09:06, Japan: 14:15, Asia: 19:18.

In this episode of Imperfect Show Finance, stock market expert V. Nagappan breaks down several developments that are creating ripples across the Indian market. The discussion begins with the IT raid impacting Refex, examining what the probe means for the company and why investors should pay close attention before taking any fresh positions. The episode also analyses the latest CPI and SIAM data, exploring whether these indicators signal the start of a sustained market rally. In addition, the conversation touches upon trends in silver, FDI flows, and broader economic shifts, helping viewers understand how global and domestic factors are shaping market sentiment. Packed with clear insights and practical guidance, this video is a must-watch for investors looking to navigate volatility with informed decision-making.

Il 9 dicembre il presidente ucraino Volodymyr Zelenskyj ha dichiarato di essere pronto a organizzare nuove elezioni presidenziali in Ucraina. Con Davide Maria De Luca, giornalista, da Kiev.Il 9 dicembre La Corte penale internazionale ha condannato un capo della milizia sudanese Janjaweed a 20 anni di detenzione per crimini di guerra e crimini contro l'umanità commessi durante il conflitto in Darfur oltre due decenni fa. Con Irene Panozzo, analista politicaOggi parliamo anche di:YouTube • La vida loca - documentary su Constanza Rossellihttps://www.youtube.com/watch?v=Q9dCWCvH1ZwCi piacerebbe sapere cosa pensi di questo episodio. Scrivici a podcast@internazionale.it Se ascolti questo podcast e ti piace, abbonati a Internazionale. È un modo concreto per sostenerci e per aiutarci a garantire ogni giorno un'informazione di qualità. Vai su internazionale.it/abbonatiConsulenza editoriale di Chiara NielsenProduzione di Claudio Balboni e Vincenzo De SimoneMusiche di Tommaso Colliva e Raffaele ScognaDirezione creativa di Jonathan ZentiCi piacerebbe sapere cosa pensi di questo episodio. Scrivici a podcast@internazionale.it Se ascolti questo podcast e ti piace, abbonati a Internazionale. È un modo concreto per sostenerci e per aiutarci a garantire ogni giorno un'informazione di qualità. Vai su internazionale.it/abbonatiConsulenza editoriale di Chiara NielsenProduzione di Claudio Balboni e Vincenzo De SimoneMusiche di Tommaso Colliva e Raffaele ScognaDirezione creativa di Jonathan Zenti

Gaza travolta dalle tempeste invernali: tra macerie e tende allagate, la crisi umanitaria peggiora.Ad Haiti, gli scontri tra bande fanno decine di vittime.L'Islanda si unisce al boicottaggio dell'Eurovision per protesta contro la partecipazione di Israele.A Oslo riappare María Corina Machado, la leader venezuelana in clandestinità da quasi un anno, mentre in India l'Unesco riconosce Diwali come patrimonio dell'umanità.

⬜ Welcome to Palvatar Market Recap, your go-to daily briefing on the latest market movements, global macro shifts, and crypto trends—powered by Raoul Pal's AI avatar, Palvatar ⬜ In today's update, Palvatar highlights a cautious tone across global equity markets as investors await the Federal Reserve's policy decision, with a rate cut widely expected. Softer U.S. inflation data, including a 0.3% rise in both Core CPI and headline CPI, is reinforcing expectations of easing price pressures. Meanwhile, European markets remain subdued after cautious comments from ECB officials. Overall, sentiment is mixed as traders position ahead of major central bank signals.

Swiss central bankers are being forced to choose between negative interest rates and negative consumer prices by the increasingly negative direction of the globally synchronized system. On a monthly basis, Switzerland's CPI declined in November for the fourth straight month as the country tries to work through contractions in output and a small but noticeable rise in unemployment. This all should sound familiar because, again, globally synchronized.   Eurodollar University's Money & Macro Analysis---------------------------------------------------------------------------------------------------------------------What if your gold could actually pay you every month… in MORE gold?That's exactly what Monetary Metals does. You still own your gold, fully insured in your name, but instead of sitting idle, it earns real yield paid in physical gold. No selling. No trading. Just more gold every month.Check it out here: https://monetary-metals.com/snider------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------EDU's Webinar SeriesThursday December 17, 6pm ETA Trillion-Dollar Eurodollar Bomb is going Off on Wall StreetThe most important funding system in the world is flashing warning signals, and almost no one is paying attention.https://event.webinarjam.com/m9wym/register/n0rnxu7n---------------------------------------------------------------------------------https://www.eurodollar.universityTwitter: https://twitter.com/JeffSnider_EDU

It's episode 600 of the podcast, not that we're doing much to mark that milestone! We have some excellent questions today, taking in retirement planning, getting a mortgage if you have a new business and how flexible ISAs work! Shownotes: https://meaningfulmoney.tv/QA35  02:43  Question 1 Hi Pete, I'm a single household, due to pay my mortgage off in my early 50's….I have very little savings and pensions are everywhere and been 'balanced fund choices' as I either do self employed work or fixed term contracts. I'm really concerned I won't have 'enough' to retire.  Where do I start to know how much I need? I don't have an extreme fancy lifestyle but want to live comfortably with running a car, having a nice home and having a holiday every few years. I would also like to help my siblings out if possible when they need it. Also for your business…..have you thought of making it an 'employee owned trust' in the future?  This could be a good option if you don't want it swallowed up by larger organisations and want to keep a people focussed culture. Thanks, Anna 12:57  Question 2 Hi Pete and Roger Recently discovered the podcast and it's been really helpful in getting my thoughts straight about future planning - thank you! My job gives me a DB pension that as it stands will give me £4617 per year at 67 - for every year I work that will go up by one 54th of my salary, (£57k) so £1055 annually if I stay at the same grade. Increased by cpi plus 1.5% annually at the moment; and by CPI only once in payment. I can exchange part of this for a lump sum when I take it but that's a decision for another day! I'm projected for full SP at 67 after another 2 years contributing. I have £30k in a pensionbee that I'm adding to £100 a month, and after listening to the podcast I have started an AJ Bell SIPP (vanguard lifestrategy 60% equity) which I'm adding £200 a month to. Also working on the cash ladder/emergency fund - currently just £5k in a cash ISA I am hoping to get this up as much as possible. After overpaying mortgage and contributing to PensionBee/SIPP I can save £200 in a good month. I am aiming to retire as soon as I possibly can after 60, when the kids will all be in their 20s. I am sure this seems impossible but might as well aim high!!! So my priority is to build for the years between 60 and 67. And leave something for the kids, eventually! So…my question!! I have an old tiny deferred DB pension that I can take at 60, £3461 lump plus £1153 per annum (no option to take either a smaller or larger lump sum). I can't trivially commute this due to the rules of the scheme. As it's deferred there are no other benefits eg death in service. Or,  I can take this now (age 53) with a reduction for early payment so it would be worth £3076 lump and £869 per annum.  The pension increases each year by CPI while deferred and also when it's in payment. Does it make sense to take now, and put lump and monthly payment into either mortgage, or SIPP,  or cash ISA? And if so which - SIPP gets me extra 25% from the gov as it's under pension recycling amount? But £3k off my mortgage now might be better. Cant get my head around the maths of this...but my gut feel is it would be working harder for me in my hand despite the fact I'd be taxed on the annual amount? I'd make sure that with my work and personal contributions I stay in 20% tax band and reclaim from HMRC when I do my tax return. Sarah  19:39  Question 3 Hi Pete and Roger, great show and love the new format to allow listeners to ask lots of questions. My question is around pension inheritance. When a person dies and passes a DC pension to a spouse or child, does the inheritance remain in the pension wrapper when it passes on or does it lose its pension wrapper status which allows the person inheriting to use the cash as they want without the pension restrictions? Many thanks, Kavi   26:04  Question 4 Hi Pete I've been watching your videos and listening to your podcasts for about two years now and I'll start by thanking you (and the youthful Mr Weeks) for the public service you provide outside your paying work.  I have what I think is a simple question, but I don't seem to be able to find a definitive answer on-line. I retired about this time two years ago at the age of 62 so I'm 64 now.  I have a DC pension in the form of a SIPP which is currently worth a little more than £600k.  I also have a similar amount in savings (some in cash, some in an S&S ISA).  I live on a combination of the income provided by the cash and the S&S ISA, plus a series of small UFPLSs taken roughly quarterly from my SIPP throughout the tax year. At this stage the SIPP withdrawals are relatively modest (totalling maybe 12k a year, of which of course 3k is tax free).  My intention is to continue doing the UFPLSs at roughly the same rate, possibly increasing a little as a result of inflation.  State pension will add another 12k or so to my annual income in 3 years so that will likely reduce the need to increase my SIPP withdrawals for a while.  My SIPP is currently growing faster than my rate of withdrawal. I understand that the maximum tax free cash I can have out of my pension in my lifetime (under current legislation) is £268,275 and obviously at my current withdrawal rate, I'm not getting to that total anytime soon.  However if I've understood the rules correctly (and I may not have), I think my ability to have tax free cash once I reach the age of 75 goes away.  If that's true, presumably I need to crystallise my SIPP pot just before I reach age 75, taking a quarter of it or my remaining LSA (whichever is smaller) as a tax free lump sum, at which point the remainder turns into an entirely taxable (crystallised) draw down pot?  Alternatively, have I completely misunderstood what happens at age 75 and I can continue to do UFPLSs (with 25% tax free) until the cows come home, or I reach the LSA, whichever is sooner? I don't think it's relevant to my question above but just for background, I have a wife who inherits everything if she survives me, or a few nieces and nephews and charities that benefit if she doesn't.  We have no children of our own. Keep up the good work gentlemen. Regards, Robert   31:05  Question 5 Hi Pete My son, who has never been a saver (apart from workplace pension) and never seems to have any spare money (single dad, renter) is in the process of going self employed with a colleague. If all goes well, he has a chance to make a reasonable income, not be hand to mouth and periodically take lump sums as a company director. E. G £5k to £10k starting in a couple of years. My question is not about the viability of the business but this business will open up the prospect of my mid 30's son, David, owning a house while I am alive. As in, building up a deposit as dividends are paid. It may take several years and then, I assume, he would have to go through the pain of a self employed mortgage. An area that I know nothing about. In effect, he is just starting out, but we would be really interested in your thoughts about the longer term aim of buying a house. Many thanks again for your wonderful books and podcasts Helen   37:55  Question 6 Hi Pete & Roger, I continue to recommend your podcast to others.  Please keep up the excellent work.  My question is on the process of using flexible Cash ISAs.  I cannot find any worked examples online and a few IFAs I have approached suggested kicking back the question to the ISA provider but I would appreciate your thoughts. My wife and I have £200k in flexible cash isas.  We plan on using these funds for a house purchase.  Should I reduce the balance to zero, can I top the ISA back up to the full £200k provided the money goes in and out of a 'flexible' cash isa (and is within the same tax year)?  I would be in a position to do this following the sale of some investment property.. And the second part of the question would be can the money move freely between a stocks and shares isa and a flexible cash isa eg £200k in a flexible cash isa moved into a stocks and shares isa > then back to the flexible cash isa. We are both higher-rate tax payers and I won't drop a tax bracket in retirement so I feel the ISAs are the most useful savings bucket we hold. Take care and all the best. Stuart  

Bill Lee and Ben Ayers preview the FOMC announcement. Bill talks about Powell's “lame duck” era and Ben calls division the “key word” for the Fed right now. Ben expects a cut, but not a complete consensus and thinks dissension will remain a theme in 2026; he also foresees more cuts as a “shadow Chair” puts pressure on the group. Bill looks at services inflation within the CPI, calling it the “stubborn one” even as the overall picture moderates.======== Schwab Network ========Empowering every investor and trader, every market day.Options involve risks and are not suitable for all investors. Before trading, read the Options Disclosure Document. http://bit.ly/2v9tH6DSubscribe to the Market Minute newsletter - https://schwabnetwork.com/subscribeDownload the iOS app - https://apps.apple.com/us/app/schwab-network/id1460719185Download the Amazon Fire Tv App - https://www.amazon.com/TD-Ameritrade-Network/dp/B07KRD76C7Watch on Sling - https://watch.sling.com/1/asset/191928615bd8d47686f94682aefaa007/watchWatch on Vizio - https://www.vizio.com/en/watchfreeplus-exploreWatch on DistroTV - https://www.distro.tv/live/schwab-network/Follow us on X – https://twitter.com/schwabnetworkFollow us on Facebook – https://www.facebook.com/schwabnetworkFollow us on LinkedIn - https://www.linkedin.com/company/schwab-network/About Schwab Network - https://schwabnetwork.com/about

O relator da CPI do Crime Organizado, senador Alessandro Vieira, citou a viagem de Toffoli com um dos advogados do Banco Master e disse que a prisão de ministros de tribunais superiores “se avizinha”.Madeleine Lacsko, Duda Teixeira e Ricardo Kertzman comentam.Papo Antagonista é o programa que explica e debate os principais acontecimentos do   dia com análises críticas e aprofundadas sobre a política brasileira e seus bastidores.     Apresentado por Madeleine Lacsko, o programa traz contexto e opinião sobre os temas mais quentes da atualidade.     Com foco em jornalismo, eleições e debate, é um espaço essencial para quem busca informação de qualidade.     Ao vivo de segunda a sexta-feira às 18h.    Apoie o jornalismo Vigilante: 10% de desconto para audiência do Papo Antagonista  https://bit.ly/papoantagonista  Siga O Antagonista no X:  https://x.com/o_antagonista   Acompanhe O Antagonista no canal do WhatsApp. Boletins diários, conteúdos exclusivos em vídeo e muito mais.  https://whatsapp.com/channel/0029Va2SurQHLHQbI5yJN344  Leia mais em www.oantagonista.com.br | www.crusoe.com.br 

Marketability tests don't work the way most studios think. CTR ≠ CPI. Clickers ≠ players.In this episode, Matej tears down the biggest misconceptions about testing ideas, shows why personas don't matter in 2025, and walks step-by-step through the exact CPI test setup he uses for real market validation.What you'll learn• Why CTR tests are misleading and often pointless• How CPI tests simulate the real user funnel• Why personas are outdated and concepts rule everything• When to use APK vs landing page• How to set up Meta campaigns correctly• Why estimated CPI is usually 1.5–2× off the real CPI• What to do when there's no clear winner• How to interpret CPI results properlyKey takeawayIf you're not running CPI tests, you're not testing. Everything else is noise.Get our MERCH NOW: 25gamers.com/shop--------------------------------------PVX Partners offers non-dilutive funding for game developers.Go to: https://pvxpartners.com/They can help you access the most effective form of growth capital once you have the metrics to back it.- Scale fast- Keep your shares- Drawdown only as needed- Have PvX take downside risk alongside you+ Work with a team entirely made up of ex-gaming operators and investors---------------------------------------For an ever-growing number of game developers, this means that now is the perfect time to invest in monetizing direct-to-consumer at scale.Our sponsor FastSpring:Has delivered D2C at scale for over 20 yearsThey power top mobile publishers around the worldLaunch a new webstore, replace an existing D2C vendor, or add a redundant D2C vendor at fastspring.gg.---------------------------------------This is no BS gaming podcast 2.5 gamers session. Sharing actionable insights, dropping knowledge from our day-to-day User Acquisition, Game Design, and Ad monetization jobs. We are definitely not discussing the latest industry news, but having so much fun! Let's not forget this is a 4 a.m. conference discussion vibe, so let's not take it too seriously.Panelists: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Jakub Remia⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠r,⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Felix Braberg, Matej Lancaric⁠Podcast: Join our slack channel here: https://join.slack.com/t/two-and-half-gamers/shared_invite/zt-2um8eguhf-c~H9idcxM271mnPzdWbipgChapters00:00 — Why marketability tests are dead03:40 — Personas vs concepts06:10 — CTR tests are misleading08:20 — CPI tests: real install flow15:50 — Live Meta setup---------------------------------------Matej LancaricUser Acquisition & Creatives Consultant⁠https://lancaric.meFelix BrabergAd monetization consultant⁠https://www.felixbraberg.comJakub RemiarGame design consultant⁠https://www.linkedin.com/in/jakubremiar---------------------------------------Please share the podcast with your industry friends, dogs & cats. Especially cats! They love it!Hit the Subscribe button on YouTube, Spotify, and Apple!Please share feedback and comments - matej@lancaric.me---------------------------------------If you are interested in getting UA tips every week on Monday, visit ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠lancaric.substack.com⁠⁠⁠⁠⁠⁠ & sign up for the Brutally Honest newsletter by Matej LancaricDo you have UA questions nobody can answer? Ask ⁠⁠⁠⁠⁠⁠⁠⁠Matej AI⁠⁠⁠⁠⁠⁠ - the First UA AI in the gaming industry! https://lancaric.me/matej-ai

//The Wire//2300Z December 8, 2025////ROUTINE////BLUF: WAR REIGNITES IN SOUTHEAST ASIA AS BORDER CLASHES FLARE UP BETWEEN THAILAND AND CAMBODIA. MILITARY COUP ATTEMPTED IN BENIN.// -----BEGIN TEARLINE------International Events-Southeast Asia: Over the weekend hostilities recommenced between Thailand and Cambodia. What started the latest round of fighting is not clear, however Thailand has crossed into the disputed zone and occupied the village of Pairachan (also known locally as "Prey Chan" village). The US State Department has upgraded the travel alert for the region, due to the ongoing fighting along the border.Analyst Comment: As usual, both sides have accused the other of reigniting hostilities, and right now it's not clear who actually started what. Nevertheless, Thailand has been bombing Cambodia fairly regularly, and Cambodia has been launching unguided rockets at Thailand in return (even though Cambodia states that they have not retaliated). Sporadic fighting has been reported all along the front throughout the day, with most of the heavy shelling being confined to the border itself. No official word on any casualties yet, but Thai sources claim one of their soldiers was killed, while Cambodian sources claim 4 soldiers killed/wounded on their side.Africa: A brief military coup was attempted in the small nation of Benin over the weekend, which took the form of a low level military commander seizing a TV station and announcing that he had taken control of the government. Lieutenant Colonel Pascal Tigri announced the overthrowing of the government and the deposition of the President on television. Turns out, none of that had actually happened, and the TV station was the only location that rebel forces had actually captured. LTC Tigri and his platoon of soldiers were captured shortly afterwards.-HomeFront-Washington D.C. - This afternoon the Bureau of Labor Statistics announced that they will not be publishing the Producer Price Index (PPI) for the month of October, and the PPI report for November will be delayed until January.Analyst Comment: This follows the previous jobs report, the CPI report, and various other reports also not being available for October, reports which usually provide major indicators of how the economic is functioning. The PPI specifically is intended to track the changes in the prices of goods at the producer-level, and is normally used in comparison with the CPI (and other reports) to gauge how major manufacturers and big industry in general is doing. Inferences can be made without this specific dataset, however when a major report is not available this causes problems with data analysis. With the economy, "no news" is usually covering up "bad news", as a rule of thumb. Either way, it's not possible to know what the story is without the data.-----END TEARLINE-----Analyst Comment: For the aspiring warlords of the world, in order for a military coup to be successful, it's generally advised to actually seize control of government before making the announcement of such. Some units loyal to LTC Tigri were successful in closing a few border checkpoints, however no actual key sites were seized by the rebels before making the announcement on TV. Most interestingly, the neighboring nation of Nigeria assisted in providing air support for the government of Benin to help put down the coup attempt. This is part of a long-standing security pact, and mostly took the form of Nigerian aircraft flying over important sites in Benin (such as military bases, checkpoints, etc) to see if anyone on the ground would shoot at them (and thus reveal their allegiance to the rebels). Or at least, that seems to be the theory used during the response. In some cases, Nigerian aircraft were fired upon with small arms, and at least one report exists that alleges Nigerian aircraft dropping a bomb in Benin. Locals in Benin

In this conversation, Rob Jones, Area Vice President of Sales at Chatsworth Products (CPI), discusses the critical need for advanced cooling solutions in data centers driven by the convergence of AI and high-performance computing (HPC). He highlights CPI's innovative liquid cooling technologies, which are essential for managing the increasing heat output from modern GPUs. The discussion also covers the types of organizations adopting CPI's solutions and how CPI is future-proofing infrastructure to accommodate evolving technology demands.Thank you to Chatsworth Products/CPI for their sponsorship of the podcast. Their expertise and support helps us to the keep the lights on here at the podcast. Please check out their selection of products on Graybar's website or reach out to your local Graybar representative to learn how CPI can help keep your data center efficient and cool.https://www.graybar.com/manufacturers/chatsworth/c/sup-chatsworth-group?utm_source=podcast&utm_medium=show-notes&utm_campaign=Sponsor-Highlight-2025-ChatsworthYouTube link: https://youtu.be/GDTl_Mux9SQ 

No 3 em 1 desta terça-feira (09), o destaque foi o senador Flávio Bolsonaro (PL), que declarou que sua pré-candidatura à Presidência é “irreversível” após visitar o pai, Jair Bolsonaro (PL), na Superintendência da Polícia Federal em Brasília. Flávio também comparou a força do seu sobrenome com a candidatura de Tarcísio de Freitas (Republicanos). Reportagem: André Anelli. O presidente da Câmara dos Deputados, Hugo Motta (Republicanos), afirmou que vai pautar o Projeto de Lei da Dosimetria após reunião com líderes. O relator da proposta, Paulinho da Força (Solidariedade), defendeu a medida ao afirmar que “a redução é geral”. Reportagem: André Anelli. A Comissão de Constituição e Justiça (CCJ) vai avaliar as novas regras para o impeachment de ministros do Supremo Tribunal Federal, após decisão do ministro Gilmar Mendes. O relator deve seguir parte da determinação do magistrado. Reportagem: Janaína Camelo. O presidente do PT, Edinho Silva (PT), reagiu à fala de Flávio Bolsonaro sobre ter um “preço” para desistir da corrida presidencial. Segundo Edinho, a candidatura do senador “não dá para levar a sério”, porque “ninguém negocia depois do lançamento”. Reportagem: Misael Mainetti. O ministro do Supremo Tribunal Federal, Alexandre de Moraes, determinou a soltura de Rodrigo Bacellar, presidente da Assembleia Legislativa do Rio de Janeiro (Alerj), com imposição de medidas cautelares e uso de tornozeleira eletrônica. Reportagem: Janaína Camelo. O ministro da Justiça e Segurança Pública, Ricardo Lewandowski, afirmou que os “Estados não fazem nada contra o crime”, durante discussões envolvendo a CPI do Crime Organizado. Reportagem: Misael Mainetti. O presidente dos Estados Unidos, Donald Trump, não descarta uma ação para derrubar Nicolás Maduro, acusado de liderar um cartel de drogas. O governo norte-americano avalia planos para a Venezuela caso o ditador renuncie. Reportagem: Eliseu Caetano. Tudo isso e muito mais você acompanha no 3 em 1. Learn more about your ad choices. Visit megaphone.fm/adchoices

欢迎收听雪球出品的财经有深度，雪球，国内领先的集投资交流交易一体的综合财富管理平台，聪明的投资者都在这里。今天分享的内容叫A股春季躁动，提前了？来自超级定投家主理人。12月以来，市场确实暖起来了。这种暖暖的氛围让不少投资者朋友都感觉到，是不是春季躁动提前了。从近期情况看，确实有不少积极信号，尤其集中在泛科技方向。消息面：科技行业暖风不断第一，行业“反内卷”再推进。11月28日，工信部组织召开动力和储能电池行业制造业企业座谈会，围绕规范动力和储能电池产业竞争秩序、推动产业高质量发展，听取相关企业情况介绍及意见建议，释放出政策引导行业健康发展的积极信号。第二，锂电供给端出现积极变化。12月5日，国产锂电龙头的核心矿山枧下窝锂矿短期复产无望，当地锂矿市场已经出现无锂矿石可卖的情形；澳洲部分非主流矿山、国内部分云母项目也因前期低价大幅减产；同时，智利盐湖受水资源短缺影响，产能利用率仅75%，澳大利亚锂辉石矿还受环保政策限制，产量同比下降。整体来看，锂电产业的产能释放有限，供需结构有望持续优化。第三，光模块行业高景气有望延续。有机构预测，光模块的全球市场规模在2024-2029年或将以22%的年复合增长率保持增长，2029年有望突破370亿美元。目前光模块行业订单饱满，供不应求可能成为常态。AI算力需求持续验证，加上北美云厂商资本开支保持高位，算力基础设施景气逻辑进一步加强。反映到盘面上，就是近期CPO、光芯片、半导体等板块持续领涨，显示出资金对这些方向的高度关注。基本面：重要会议临近，市场预期向好海外方面，美联储降息预期升温，市场正抢跑复苏交易，推动部分板块反弹，但我们认为，长期经济全面向好与降息存在矛盾，可能以降息次数低于预期、长端利率上行平衡，后续仍需观察政策节奏。国内方面，随着外部扰动缓解，市场情绪逐渐修复。即将召开的12月中央经济工作会议处于“十四五”收官与“十五五”谋划的关键时点，所以市场对明年经济目标与政策方向关注度非常高，这也是近期风险偏好提升的重要原因。资金面：持续保持宽松央行继续保持流动性合理充裕，叠加公募基金规模已经逼近三十七万亿元，连续七个月创新高，目前增量资金正稳步入市，持续为市场提供流动性支撑。好了，现在我们回到最初的问题，春季行情真的提前启动了吗？从历史规律来看，春季躁动多发生在1-3月，但今年的市场在12月就表现出较强的动能；并且A股主要指数的涨幅，尤其是创业板，已经显著超过往年同期水平，在重要政策窗口前呈现了较强“抢跑”特征。但，短期来看，AI算力芯片、储能等热门方向交易拥挤度仍然是较高的，可能还需要一段时间的震荡消化；而AI应用、机器人等拥挤度偏低方向则缺乏增量资金与基本面催化，新一轮较强行情能否开启还需要持续的观察。因此，待市场拥挤度消化后，叠加政策、产业与流动性配合，我对A股仍持有较为乐观的态度。具体方向上，建议大家持续关注泛科技产业链（包括算力、存储、储能、机器人等），仍可能是中期重点方向。另外，美股这周将召开12月议息会议，市场关注度很高。目前，市场预期降息25个基点的概率接近90%，如果确定降，那这将是他们连续第三次降息。虽然市场预期一致，但我们还是需要知道——美联储的内部对未来利率该怎么走已经有分歧了。比如11月底，正是因为“鹰派”和“鸽派”的不同声音，才引发了市场那一轮的大幅波动。这次会议，大家可以关注3个核心点：1. 点阵图会不会暗示2026年再降1-2次？2. 鲍威尔对通胀“持续回落”的表述。3. 是否重申“数据依赖”或提及“预防性降息”的立场。若降息顺利落地且经济数据表现疲软，预计将推动美元走弱，美股、黄金及非美货币走强，利好风险资产。反之，就需要再看下后面公布的11月就业报告和CPI数据，如果数据均超预期强劲，那市场可能出现“买预期、卖事实”的调整行情。再补充一点，关于日本的消息。上周，日本央行暗示有可能再次加息，引发市场对“套息交易”可能反转的担忧，带动美国的股市和债市均出现了下跌。接下来，距离12月19日的日本央行议息会议也越来越近了，建议大家继续保持关注。再讲下A债，上周，债券市场跌的比较多。我认为，主要原因可能是这几个：1. 国债买卖规模不及预期，央行对流动性的支持仍在，但也出现收短放长等表述；2. 市场对即将召开的中央经济工作会议和12月政治局会议各项政策预期逐渐发酵，包括明年赤字维持积极、财政政策继续前置发力等；3. 公募销售新规尚未落地，对规则不确定性的担忧在这种情况下被放大。叠加年末部分机构提前卖出债券规避风险，从总体上看，目前债券市场在赔率上相对一般，所以容易受到各类信息的影响。因此，短期我对于债券的观点偏中性，震荡概率大。对于交易资金而言，可以等待基金销售费用相关新规落地及负债端进一步稳定，持续观察。对于配置资金而言，当前利率水平已回升至今年3月高点附近，对保险等配置型机构吸引力有所提升；加之央行货币政策并无实质性收紧的基础，因此也可以给到债市更多的关注。

Keith reviews the state of the real estate market, noting that existing home sales are down about 33% from their 2021 peak, while prices remain firm due to low supply and high demand.  Affordability challenges are driven by stagnant wages, inflation, and higher mortgage rates, with 70% of mortgage holders still locked in at rates below 5%.  He observes that in certain markets, new construction may now offer better investor terms than comparable existing properties, especially where builders buy down rates.  The episode highlights a comparison of nearly a century of asset class returns, reporting real estate's long-term annual appreciation at approximately 4.7%. Episode Page: GetRichEducation.com/583 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  For predictable 10-12% quarterly returns, visit FreedomFamilyInvestments.com/GRE or text  1-937-795-8989 to speak with a freedom coach Will you please leave a review for the show? I'd be grateful. Search "how to leave an Apple Podcasts review"  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— GREletter.com or text 'GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation   Complete episode transcript: Keith Weinhold  0:01   welcome to GRE. I'm your host. Keith Weinhold, how do other audiences feel about the GRE mantras that we've come to love here, like financially free beats debt free and don't get your money to work for you? Then sometimes it's not what you're attracted to in life, but what you're running away from finally comparing the returns from six major asset classes over the past century all today on get rich education    Keith Weinhold  0:29   since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, and delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show guests include top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast or visit get rich education.com   Corey Coates  1:18   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:34   Welcome to GRE from Kennebunkport, Maine to Bridgeport, Connecticut and across 188 nations worldwide. It is the voice of real estate investing since 2014 I'm Keith Weinhold, and I'm grateful to have you here with me, and we're doing something a little different today, as you'll soon listen in to me as I was on the hot seat being interviewed on another prominent real estate show. But first, when you pull back and ask yourself, why you're really an investor in the first place? There are so many reasons. Maybe you just want a few properties in order to supplement your day job income. Maybe you want to have more than a few so that you can completely replace that active income, or perhaps rather than going the route of building up your cash flow, which is valid, but some think that it's the only way to real estate financial freedom. Instead, you could own, say, nine doors or 22 doors, and even if they all had zero cash flow, you can just keep borrowing against that leverage and equity tax free and live off of that whatever you do when it comes to your day job, income, your degree of disdain for your nine to five job that is going to be greater or less than it is for some others. So your motivation for self improvement, it isn't always about what you're running to in life, which could be real estate investing, but it's also what you're running away from, especially if you don't get a deeply rooted sense of meaning from your job. So you could have both a push factor and a pull factor in what motivates you. There's a scene from the 1999 movie Office Space that just does this incredibly unvarnished job of saying out loud how so many of us feel today. What I'm going to share with you, I mean, you know that you have felt this at least once in your life. Office space wasn't supposed to be a mega hit movie, but it kind of was, because it's so relatable. Let's listen in to part of this clip. This is Ron Livingston playing a disgruntled male employee talking to Jennifer Aniston at a restaurant about his job in the movie Office Space.   Speaker 1  4:09   I don't like my job, and I don't think I'm gonna go anymore. You're just not gonna go. Yeah, won't you get fired? I don't know, but I really don't like it, and I'm not gonna go.   Keith Weinhold  4:24   Then it continues when she asks. So you're just gonna quit? No, not really. I'm just gonna stop going. When did you decide all of that? About an hour ago? Really? Yeah, aren't you going to get another job? I don't think I'd like another job. What are you going to do about money in bills and all that? I've never really liked paying bills. I don't think I'm going to do that either.   Keith Weinhold  4:53   That's it. That is the end of that classic dialog from office space that we can. All relate to you did not wake up to be mediocre, but a lot of people's jobs pummel them into a rather prosaic state. You were born rich because you were born with this abundance of choices, this huge palette in menu, but society often stifles that and makes you forget it, and it gets really easy to just fall into your groove and stay there. The main reason we aren't living our dreams is really because we're living our fears. Failure doesn't actually destroy as many dreams as people think fear and doubt. Does fear and doubt destroy more dreams than failure ever does financial runway? That is a phrase for the amount of time that you can maintain your lifestyle without the need for a paycheck. And it's critical for you to lengthen this runway if you hope to retire early, and it will dramatically reduce your stress level. An example is say that you currently earn 150k per year after taxes, and you spend 126k of that, all right. Well, that means you've got a surplus of 24k a year. Well, it's going to take you a little over five years to accumulate that 126k that you need to annually support your lifestyle. That's what happens if you don't invest. And see investing helps you lengthen your financial runway, that amount of time you can maintain your lifestyle without the need for a paycheck. That's what we're talking about here. Last week I brought you the show from Caesar's Palace in the center of the Las Vegas Strip. So therefore, what I've done is I have gone from the ostentatious and flamboyant over here to the familial and simple as this week I'm in Buffalo New York, broadcasting from a somewhat makeshift GRE studio here, the Buffalo Bills had a home game yesterday, so the city and hotels are busier than usual. Next week, I will bring you the show from upstate Pennsylvania, as I'm traveling to see my family. Let's listen in to me on the hot seat. I was recently a guest on Kevin bups long running real estate investing show. You're going to get to see how I present information and GRE principles for the first time to a different audience. And as I do, you're going to hear me provide new material, but you'll also hear me say quite a few things that I have told you before, even then, the concepts might land differently when I'm explaining them to a new audience. The show is based in Florida, so We'll also touch on the real estate pain and opportunity there. After I'm interviewed, I'm going to come back and tell you about something fascinating. I'm going to compare the returns from six major asset classes over the past century, since 1930 anyway, and that's going to include the first time on the show where I'll tell you real estate's annual appreciation rate over the last entire century. Just about what do you think it is? 8% 5% 3% you're gonna have, perhaps the best answer you've ever had. Here we go.   Kevin Bupp  8:31   Now, guys, I want to welcome back a guest that we've had on. It's been a number of years now. Keith Weinhold, I went back to look at the last episode we had him on. I think it's been about four years. So, you know, four years ago, the world was in the very different state. It was a very different time. And so, you know, thankfully, we're out of the covid era and on to newer and greater things. So for those that don't know Keith, he's the founder of get rich education. He's the host of the popular get rich education podcast. He's a longtime thought leader in the real estate investing space, and like myself. Keith was also born and raised in Pennsylvania. For those that know don't know, I was born and raised in Harrisburg, Pennsylvania, Keith, I believe, a couple hours away from where I was. But Keith has very much a unique perspective on wealth, building debt, and really the housing market as a whole. And today, you know, we'll be diving into everything you know, from why the property itself? This is something that Keith kind of coins, why the property itself is less important than you think, to how the housing crash has already happened in a way that most people don't even realize, to the role inflation and debt play in building long term wealth. And so again, it's been a number of years here, so I'm excited to welcome Keith back here. So my friend, Keith, welcome to the show. It's it's a pleasure to have you back here again, my friend.   Keith Weinhold  9:43   Oh, Kevin, it's good to be here and be in the auspices of another fellow native Pennsylvanian as well.   Kevin Bupp  9:49   That's right, that's right, yeah, no, Pa is rocking and rolling as I think I told you this little, this little tidbit last time everyone, every time I speak with someone from Pennsylvania, they never know this. But I'm going to share this fun fact. Are you already know, Keith. I'm gonna share it with the rest of the listeners here today, Pennsylvania, those that are born and raised there. It's the only state where, if you're from Pennsylvania, you refer to it by its initials, and you assume that everyone else, everywhere else across the country, they know what you're talking about when you say I'm from PA and that's the only state that does that. So I think it's pretty neat.   Keith Weinhold  10:19   That's right. No one else does that. No one else says, I'm from TN, if they're from Memphis, right?   Kevin Bupp  10:24   They don't, they don't. So with that, my friend. So, you know, it's, again, it's been a number of years since we, since we had you last on here, you know, let's start with just, let's back up a little bit. You know, what have you been up to? I mean, what, what have the last few years look like for you? Where have you been spending your time, energy and efforts? Obviously, it's, you know, we've gone through some quite a bit of turmoil over the last five years, and would love to just get an update as to what's going on your life.    Speaker 2  10:48   Well, one of the big words in real estate investing, we all know it, even the person that cuts your hair and cleans your teeth knows it, and that's affordability. You know, really, affordability has been under fire, under pressure. By a lot of measures, we have the worst affordability for home buying since the early 80s, when the Jeffersons was on television. So it's been helping a lot of people deal with that. It's really the effect of three things, general inflation, higher home prices and higher mortgage rates. Really, those three things the crux of the problem. It's not exactly inflation, really. It's the fact that over the long term, wages don't keep up with inflation. And really that's the crux of the affordability problem. So I've been helping people deal with that and put that in perspective, really, Kevin,   Kevin Bupp  11:42   what does that mean for, you know, investment, real estate? I mean, are you still still doing deals? Are you seeing deals still get done by your students? I mean, what? What's your world look like?   Keith Weinhold  11:52    Yeah. I mean, I think you're asking, you know, how many deals are taking place? One way to measure that on a national basis is existing home sales. You know, existing home sales have been down substantially. And when a lot of people hear that, they think, prices, oh no, we're not talking about prices. We're talking about existing home sales. That means sales volume. That means the amount of overall transactions. So to give an idea of a real estate market, a residential one that's become pretty lethargic and not very vibrant, is that sales volume. It had its recent peak of about 6 million home sales back in 2021 I mean, 2021 was crazy, kind of the crux of the pandemic, you know, Kevin, that's when for an open house. You saw cars wrapped around the block for just one open house. Okay, well, that year 2021 there were 6 million existing home sales. Today, we're on pace to do about 4 million, and we also did only about 4 million last year. So if you put that in perspective and think about what that means, prices have stayed stable, but that's a 33% reduction in transactions. So investors, you know, people like you and I, Kevin, we're not as affected by this as some other industries. But think about the mortgage loan industry. If you're doing 33% fewer transactions, think about the hard decisions companies have to make and lay people off. 33% fewer transactions for title companies. It's probably close to 33% fewer transactions for furniture companies as well. So really it's both affordability that's been a problem, and that's led to this relative lethargy, kind of a slow, not very interesting residential real estate market, at least from the transaction perspective, really, really slow.   Kevin Bupp  13:58   But Could, could one not argue, I don't know the data points. Keith, I guess, what did it look like? 2021? Was kind of the peak. I think you'd reference 6 million units a year. Transactionally, what did it look like prior? What, what was, what was a more normal year like? And maybe 2020, wasn't a normal year either, right? Because a lot of folks thought the role was ending for a period of time. You know, 2019 maybe just again, trying to, trying to find maybe a better baseline to use. And then, you know, does, I guess, in my mind, and I don't follow these data points as much as you do, is that maybe 2021, was, you know, somewhat artificial inflation, right? Lots of lots of money pumping into the marketplace. And ultimately, we had to get back to a sense of normalcy at some point in time. And so are we at a at a place of normalcy? Are we still behind the eight ball a little bit?   Keith Weinhold  14:44   We're still behind the eight ball a little bit. 5 million is more of a normal long term number. But yeah, I mean, if we've got 4 million now, that's, you know, 25% less still than 5 million, sort of this long term normalcy rate of existing. Home transactions. And if you're a careful listener, you notice I've been using the word existing that doesn't include new build. So you know, when you the listener out there reading headlines, always look at that closely. We talking about existing? Are we talking about new build? You can learn a lot from that when you introduce new build data that introduces an awful lot of noise. For example, even when we look at prices, sometimes we want to exclude new construction. So why is that? Why do we want to focus on existing a lot? Well, because new build can introduce a lot of aberrations to the market. For example, the size of new build properties has dropped substantially the past few years, again, coming back to the central theme of affordability to help make a home more affordable. So we're not looking at same same when the square footage of a property drops a lot. And also, another thing that's been happening as a response to the lack of affordability is you have more builders building further and further out from a central business district where there are lower land costs for that new build property as well to help meet affordability. So the takeaway is, yeah, we want to be careful when we look at numbers. Are we looking at existing? Are we looking at new? Are we looking at overall properties.   Kevin Bupp  16:22   If you believe that if rates come down, we really is that the is that the lever that has to be pulled in order for that transactional volume to kick back up and, you know, make homes more affordable for the average home buyer,   Keith Weinhold  16:34   yeah, it's certainly going to help. I mean, really lower rates is the most likely significant lever that can help with the affordability crisis. Prices are pretty firm. Home prices are up 2% year over year. It's difficult for home prices to fall. In fact, home prices have only fallen one time substantially since World War Two. A lot of people don't realize that. So home prices are firm. I expect them to stay firm. And then the other lever is if we get a huge surge in wage increases, which I really don't expect anytime soon, unless we have another really big bout of inflation. So to your point, yes, lower mortgage rates like, that's the biggest lever that can help affordability return. And to speak to mortgage rates, Kevin and help put all of this into perspective, including this affordability component, is the fact that today, mortgage rates are low, and that gives a lot of people pause. They're like, What are you talking about? Mortgage rates were 3% even as low as two point some percent, just as recently as 2021 and early 2022 What are you talking about? Like, mortgage rates are 2x to 3x that today we look at a long term perspective when we look at the arc of mortgage rates, instead of in setting up expectations where we think rates could go. And we need to look at a frame of reference. Mortgage rates peaked over 18% in 1981 that's if you had a good credit score and everything on a 30 year fixed rate mortgage. That's what we're talking about here. In fact, Freddie Mac, they're the ones that have the best, most reliable stat set for mortgage rates, and that goes back to 1971 the average mortgage rate since 1971 all the way up to today, through all these presidential administrations you know, Nixon and in the Reagan years, and Clinton and the bushes and Obama, everything You know up to today, from 1971 until today, the average 30 year fixed rate mortgage is 7.7% so that's why I talk about how mortgage rates are, you know, moderate to a little low today. That takes a lot of people back. I don't see any impetus. It's going to get us back to, say, 3% mortgage rates. So some real perspective here.   Kevin Bupp  19:06   Yeah, yeah, no. And, you know, the interesting thing again, you might have data points on this to see, is a lot of the lack, do you feel that a lot of the lack of transactional volume is also related to those folks that have locked in, you know, 3% you know, mortgages, right? Like they're they, why would they sell and ultimately trade into a, maybe a, you know, a, you know, upgrade of a home, but ultimately be paying significantly more than that of what they're paying at the present time, you know, double the cost of capital. Your rates today, 30 year, rates are where the six and a half, 7% range, I don't follow it, but yeah.   Keith Weinhold  19:42   I mean, as of today, 6.3% is is where they're at. But yeah, you have a lot of those homeowners locked in to low rates. I mean, first, if we just pull back and look at the overall homeowner landscape, four in 10 have a paid off property. So just to talk to those about the other. Or 60% that percentage that are mortgage borrowers, among borrowers, 70% still have a mortgage rate under 5% meaning it starts with a four or less. So yeah, you're bringing up astutely Kevin the lock. In effect, people are reluctant to sell and give up that rate to trade it for a higher rate. And here's what's interesting, a lot of people if they couldn't make the payments on their home and say they lost their home, something that actually happened a lot in 2008 when people were locked into in sustainable mortgages because they didn't have good credit and they didn't have good income, the borrower is in good shape today. But even if, for some reason, they couldn't make the payments on their home, and they lost their home and they had to rent. Rents are actually higher in many cases, than what that mortgage principal and interest payment is. Maybe even the mortgage principal interest, taxes and insurance that they pay today are lower than what comparable rent would be, and this helps stabilize the housing market, people are really motivated to make their payments, and they can easily do it when it is so low, speaking to that lock in effect, and we're bringing up another reason now why transaction volume is so low, that lock in effect. So homeowners are in good shape. Their payments are sustainable. They don't want to sell, and they're just staying put. They're staying in place   Kevin Bupp  19:42   tying that all back around. Keith, what does that mean for us real estate investors? I mean, is there still good value out in the marketplace? I mean, is the rent to value ratio still, you know, Is there good opportunity to be had, as far as ROI for an investor that wants to buy into a residential investment or a multifamily investment, or anything related to that of residential housing?   Keith Weinhold  19:42   Well, the deals in the one to four unit space, single family homes up the four Plex buildings, yeah, just are not as good as they used to be. The ratio of rent income to purchase price is lower than it was five years ago. And that's so simple, but that's just really the simplest formula for profitability for a real estate investor, you don't have to look at cap rate or or NOI in the one to four unit space. Let's just look at that ratio of rent income to purchase price. 20 years ago, it was easy to find a full 1% meaning, on a 200k property, you could get $2,000 worth of rent income. That's that 1% ratio. But now oftentimes you've got to find something that's more like seven tenths of 1% that would be a $1,400 rent on a 200k property. So that simple formula, and I love that, the rent income divided by the purchase price when I'm looking at properties, when I'm scrolling or scanning like that's a calculation you can do in your head. It's only if I would see a ratio that appears really good, oh, that I would like drill down and look at that property more closely. So of course, when you have something that is that simple, though, rent income divided by purchase price, there's a lot of things that doesn't tell you. You know, what kind of mortgage interest rate can you get? What kind of property tax Do you pay in that jurisdiction? But really, I love the simplicity. That's it, rent divided by price, but it has been under attack. Now today, I still don't know where you're going to get a better risk adjusted return than you do with a carefully bought income property with a loan. I've always liked fixed interest rate debt the best risk adjusted return anywhere. I really don't know of a better one than with buying real estate, because real estate investors have so many profit centers, five simultaneous profit centers, which few people understand. Yeah.   Kevin Bupp  19:42   So using that, I want to, I want to unpack the the 1% rule a little bit for those that aren't familiar with it. And again, there's a lot of variables there, as you had mentioned, you know, mortgage rate, taxes, insurance and that respective market that you that you're buying in, and so what? What are you really trying to back into when applying that rule? Is there? Is there? Is there a true cash on cash return that you're hoping to achieve, again, assuming all these other variables that we just don't know, what they are at this point, you know? Is there a target range of actual ROI that you're actually looking to achieve when applying that 1% rule?   Keith Weinhold  19:42   No, I'm just looking for any positive cash flow. You know, to your point, yeah, there's nothing like the cash on cash return needs to be at least three and a half percent or something like that. But, yeah, I still like buying a property that's that's greater than a break even. Inflation is probably going to increase your cash flow over time, even if you bought a property that that broke even or just had a trickle of cash flow or a $100 cash flow today, a lot of people don't understand that fact that right there you can't count on it, you shouldn't count on. Getting rent increases. But we all know it generally happens over time at a rate of about 3% a year, but it actually increases your cash flow. If you increase your rent 5% your cash flow can often increase something like 12% why is that? How could that happen? That's because, you know, it's key for the person that was listening closely, you get fixed interest rate debt, so your rent income goes up, your expenses increase, except for that mortgage principal and interest. Inflation can touch it. It's kind of like a mosquito buzzing against a window and always trying to get in. And inflation can't touch that in a way. It's sort of like debt that's an asset in some unusual way, or some play on words, getting that debt so So yes, you can't count on rent increases over time. We know what typically happens, and that's really part of the compelling value proposition of buying income property with a loan. You're sort of leveraging inflation. You're really on the right side of it.   Kevin Bupp  20:08   Are there any particular markets that you feel are ripe for opportunity today where you're spending your focus and energies in?   Keith Weinhold  20:08   Yeah, it's still in high cash flowing markets like Memphis, okay, little rock and a good part of the Midwest and the Midwest still has home prices appreciating faster than the national average as well. So those are some of the areas that I like. Those jurisdictions also tend to have laws, as your listeners might know this already, Kevin, they tend to have laws that benefit the landlord more so than the tenant, where you can get a prompt eviction, but those are still the areas where you do get that high ratio of rent income to purchase price on a single family rental home, you might still find eight tenths of 1% meaning $800 worth of rent for every 100k of property purchase in places exactly like that.   Kevin Bupp  20:08   I was hoping that you tell me 1% rule would is applicable.   Keith Weinhold  20:08   It's pretty rare. You know, if you do see, if you do see a property that has a full 1% rent to purchase price ratio, it could be in a sketchy area, you need to make sure that you can actually get the rent in like you would get a respectful rent paying tenant in there. That's something that we would have to look at more closely.   Kevin Bupp  20:08   Have you explored building new product? Is there an opportunity there getting at a lower basis by building ground up?   Keith Weinhold  19:42   You asked such a smart question. This is actually the first time ever, as long as I've been an active real estate investor, Kevin for more than 20 years where new build purchases for income property make more sense than existing purchases. Why is that? It's because builders know that investors and borrowers are struggling to buy and afford property and make the numbers work. Like you're talking about, that builders are incentivized to buy down your rate. For you, to buy down your mortgage rate, we deal with a lot of providers that buy down your mortgage rate to 5% or less for you, and this is a fixed, long term loan in order to help get the numbers to work. You know, especially where you might see a new build property where the rent to purchase price ratio is less than seven tenths of 1% and it's just like, ah, the numbers wouldn't work paying a higher mortgage rate, but some are willing to buy them down to as little as four and a half. However, if you're looking into buying a new build income producing property, you do want to look at that closely. Who is paying for the discount points to buy down the rate. Is it the builder, or is it you? Because some builders just suggest, hey, you can buy down. You can have your rate bought down. But yeah, the next question is, yeah, okay, who is actually doing the buy down? Yeah.   Keith Weinhold  19:43   I mean, just getting tacked on. I mean, in that instance, I'm assuming that a lot of it's just getting tacked on to the to the back end of the purchase price, or it's being baked into closing costs somewhere somebody is paying for it. More than likely the borrower is paying for it. Paying for it. Is that? Is that? Again, I'm assuming we probably have that here in Florida. Again, I don't really follow the residential market too much, but there's, as you had mentioned, like, kind of on the the outskirts of Tampa, the tertiary, necessary, tertiary, probably more secondary areas. That's where a lot of the builds are happening. Lots of these, you know, planned subdivisions. You know, hundreds and 1000s of homes being put up. And in my understanding, through the grapevine, is I hear that they're, you know, sales volumes is incredibly slow, and a lot of these builders are now offering some creative loan products, again, to what you've just stated there, to attract, not necessarily even just homeowners, but also investors, to come in and buy their product from them. Is, is there a real opportunity there, though? I mean, have you seen investors be able to benefit from buying brand new product at a fair price, with economics at work keeping as a rental?   Keith Weinhold  29:53   I have and Florida has some builders that are almost desperate. I'm a long time investor. Know personally, directly in Florida, income property, Southwest Florida, places like Cape Coral, they have been ground zero for real estate depreciation, a contraction in real estate values year over year of 10% or more in some southwest Florida markets. So like the post pandemic, migration boom is certainly over in Florida. And you know, Kevin, as little as 10 years ago, people used to talk about buy in Florida. It's cheap, it's sunny, cheap and cheerful, like you would sort of hear that sort of thing about Florida real estate. That is no longer true. Florida just is not as cheap as it used to be. It's the same or higher than the national median home price now in Florida. So yes, some builders are rather desperate. The other benefit of buying new build, especially in a place like Florida, where a lot of new building has taken place and the supply actually exceeds the demand here in the short period. You can take advantage of that, not only by getting the rate buy down, but because homeowners insurance premiums are substantially less on new build property, because they're built to today's wind mitigation and other standards than they are existing property. I have a friend that just bought a new Florida duplex through us in Ocala, Florida. That's sort of a central, North Central Florida, on that new build duplex that he paid 400k for. I saw the actual insurance premium, the the rate sheet, $694.06 $694 694 so the benefit of buying new build is you get a lower insurance premium. You get these rate buy down. Sometimes what your builder will buy for you make for you rather and of course, you're probably going to have low maintenance costs for a long time, since it's a new build property, and you get a tenant that is probably going to stay longer than the average duration. They're the first person to ever live there. It's difficult for the tenant to improve their housing situation when they have a new build income property, unless they would go out and buy, and it's a very difficult time to go out and buy. So through that lack of affordability, really, the advantage for a real estate investor is tenants are staying put longer. The average tenancy duration is up because they can't run out and be a first time homebuyer.    Keith Weinhold  32:32   You know, most people think they're playing it safe with their liquid money, but they're actually losing savings accounts and bonds don't keep up when true inflation eats six or 7% of your wealth. Every single year, I invest my liquidity with FFI freedom family investments in their flagship program. Why fixed 10 to 12% returns have been predictable and paid quarterly. There's real world security backed by needs based real estate like affordable housing, Senior Living and health care. Ask about the freedom flagship program when you speak to a freedom coach there, and that's just one part of their family of products, they've got workshops, webinars and seminars designed to educate you before you invest. Start with as little as 25k and finally, get your money working as hard as you do. Get started at Freedom, family investments.com/gre, or send a text. Now it's 1-937-795-8989, yep. Text their freedom coach directly. Again. 1937795898, 77958989   Keith Weinhold  33:44   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your prequel and even chat with President chailey Ridge personally while it's on your mind, start at Ridge lending group.com that's Ridge lending group.com   Todd Drowlette  34:17   this is the star of the A and E show the real estate commission. Todd Rowlett, listen to get rich education with my friend Keith Weinhold, and don't quit your Daydream.   Kevin Bupp  34:38   That even trickles down to the to the space that we're in. We're in the mobile home park space. And while we don't have a lot of rentals inside of our portfolio, most of our residents own their home and they rent the land, but throughout our portfolio, we have roughly 400 units that we own that we have as standardized rentals, and we've noticed that trend as well. Historically. 10 years ago, you. Yeah, we track actually about, I can take it back about eight years, where we actually have data to support this. This claim is that our average renter would stay about 16 months. That was fairly standard. Whereas today it's over, it's nearly three years. At this point in time, the majority are staying nearly three in there's probably, there's some variables in there. You know, eight years ago, we weren't bringing a lot of new product into our communities, whereas a lot of the mobile home parks that we purchased today do have a lot of newer mobile homes in them. So again, to your point, it's, it's a it's a newer home. It's fresh. There might not be the first person that lived there, maybe they're only the second, right? But it's still a very new home. It's only a couple years old. All the appliances are new. It's fresh, you know, it's well insulated, and it's just a high quality product, but, but it's nearly double of what we used to experience and what we used to underwrite. It's, you know, which is, which is interesting. You know, I am, I want to, I want to circle back, you'd mentioned Cape Coral. I've got quite a bit, quite a bit of experience with Cape Coral. This is not the first time that Cape Coral and Port Charlotte in those areas have crashed. I mean, like, they've got quite an interesting history in time, back during the GFC, that area down there took probably one of the biggest hits in most of Florida, while, you know, the rest of Florida got, you know, pounded pretty hard with home values and decreasing home values decreasing rents, Port Charlotte, Cape, coral, in those areas as well. It's just It looks very different down there today. As far as you know, the job basis. I mean, there's a little bit more of a, you know, you know, an economy than what existed maybe 1015, years ago. But I don't know if you know the story of Port Charlotte. Is it some interesting history that you can if you want to spend some time, go on YouTube. There's some documentaries out there about, basically when that area was created. There's a two brothers that, essentially, you know, sold, subdivided and sold swampland and sold the dream to the northeast centers to come down and buy, you know, parcels of land down in Cape Coral, port, Charlotte and in that general area. And it took a lot of time for it develop over the years, but it's a beautiful area down there. But again, I think what happened to your point? A lot of folks during the covid era were wanting to come to Florida. We were fairly free down here. The sun was shining, you know, the Gulf of Mexico was warm, and that was a good value for a lot of folks. You know, the values were driving up there. Was home inventory down there. You got a good bang for your buck back at that point in time. But again, there's not, there's not as much as many amenities and supportive economy there. And then to me, there, like you might find in the Tampa area, or you might find Orlando, or even Ocala cow is a phenomenal market right now. And yeah, oh, Cal is, for those that don't you know you mentioned, you referenced the insurance there, which is, that's a great, that's a great price for that, that policy, you know, 700 bucks, basically, that is inland. For those that don't know the geography here in Florida, that is inland. So you are fairly protected from storms, you know, hurricanes and things of that nature, which crush us here on the on the Gulf Coast. But in any event, I just thought I'd share that there's some good, pretty cool documentaries out there in Port Charlotte, in the whole area down there, but a beautiful part of the country. But just Yeah, it's, it's suffering right now. There's, I think there's, I was looking the other day on Zillow. I just play around and check and see what waterfront home prices are going for. And down there, you can basically get a you can get a canal front home going out to the Gulf of Mexico for about $500,000 which was probably closer to 800,000 during, you know, the the boom era of 2021 2022 So historically, we used to buy properties down there. This is back in 2000 and 345, before the the GFC, we could buy those same properties for 150 and $200,000 waterfront home, waterfront homes, deep water canals going out to the Gulf of Mexico. But when it crashed, some of those homes were selling for $120,000 $100,000 so it's interesting to see how things have come kind of full circle multiple times, not just down there, but in all of Florida as well. Florida is always boom and bust. You know, I think they say that with you know, you could probably speak to that most of these coastal towns, whether it be in Florida, whether it be up the eastern seaboard, the coastal markets are definitely more of a roller coaster ride than the Midwestern markets, where you invest in would you? Would you agree with that?   Keith Weinhold  39:09   Yeah, I would. And yeah, you talk about Florida being a boom and bust, and what you said is certainly true in the shorter term. Back in the global financial crisis, we saw more price blood letting in Florida than we did in other states as well. But over the long term, the long arc, I'm bullish on Florida because of just the obvious constant in migration story. In fact, if you go back to decennial censuses, all the way back to the early 1800s every single decennial census, every 10 years, the population of Florida has rose, and it rises faster than the national average, almost all of those 10 year periods. So yeah, over the long term, I certainly like Florida, but Yeah, you sure can, you know, nitpick over the. Short term, but as little as five years from now. If you bought today, as little as five years from now, I could see someone saying, like, yeah, I bought back five years ago, because we're actually in a in a short term, overbuilt condition, and builders bought down my rate. For me, this could look savvy and this could look wise. So if you're looking for opportunity, new building Florida is definitely something to look into.   Kevin Bupp  40:22    I agree. No, absolutely. Like, the long term, you know, opportunity here in Florida, it's there, you know, it's interesting. We've got the we get these hurricanes every year. Last year was a pretty impactful year, at least here on the on the Gulf side, and the neighborhood I lived in, we got flooded. Luckily, our homes in newer builds built up. But, you know, 70% of the neighbor I lived in had 444, or five feet of seawater. And as did the, you know, the long stretch of the Gulf Coast here, and it was the first time this area has ever this immediate air right where we live, has ever had a it wasn't even a direct hit. It just happened to be a massive storm surge. But it was, you know, catastrophic as far as the damage that it did. And a lot of folks that we knew in our neighborhood here. Have lived here for 1020, 3040, or 50 years, and they had never had any floodwater whatsoever. And and there was two camps where they fell in either one camp where they didn't, they whether they had the money to rebuild or not, didn't matter. Like, mentally, they were never going to end up. They were never going to deal with that again. They were moving away, like they just didn't want to go through the heartache of that again. In the second camp, we're basically, I knew it was going to happen at some point in time. This is the kind of price to live, to pay, a live in paradise and and what ultimately occurred is, you know, you saw homes going up for sale, and in the initial chatter for those that that were impacted, is that, who's going to buy that? You know? You know, they're not going to get hardly anything for it. You know, it's just like, who's going to want to live here now that has been flooded. I said, Just wait. I'll say people have us as human beings, have short term memories. We do and and I can promise you, within a few months, those homes will be gobbled up, some will be knocked down, some will be rebuilt, but inevitably, the prices will come back incredibly strong, and you'll see very limited inventory, at least in desirable markets that are here on the water. And that's exactly that happened. Within six month period of time, prices are back up. You can't get your hands on a flooded property now, or one that had been flooded, right?   Keith Weinhold  42:12   I can believe it. And this is not the way that you want to have a waterfront property when the water inundates you and comes to you, that is not the way to buy waterfront property.   Kevin Bupp  42:23   Yeah, interesting, but, uh, no, Keith has been a fun conversation, my friend. So let's, let's talk about, you know, I like to you'll peek inside your brain if you were going to start all over again, from scratch, you know, you've been at this now, what? How long? Almost two decades. It's been, been quite   Keith Weinhold  42:38   Yes, yes, more than two decades. Is that what you're asking, how would I start, starting from today?   Kevin Bupp  42:47   Yeah, like, what would you do? Where would you focus, what asset type and any particular strategy outside of what you're doing today? You know, where would you focus your time?   Keith Weinhold  42:55   Actually, it is quite a coincidence. The way that I would start all over again in real estate is the way that I did start in real estate. It worked out phenomenally, in a way it makes sense, because if it hadn't worked out phenomenally, you never would have heard of me, and I wouldn't have become this real estate thought leader or whatever, because this is a way, an everyday person with virtually no real estate knowledge and very little money. Can start out, what I did is I made the first ever home of any kind, a four Plex building where I lived in one unit and rented out the other three. This is something very actionable for your for your audience as well, Kevin. Or if maybe you're a listener that has a an adult daughter or son and they want to get started in real estate with a bang without much money, is to buy a four Plex, just like I did. You can use an FHA loan, a three and a half percent down payment. You have to live in one of the units at least 12 months, and at last check, your minimum credit score only needs to be 580 now you will get a lower interest rate if you have a higher credit score. But those are the only three criteria you need. I mean, what a country talk about? The American Dream. You can use that FHA program with a single family home, duplex, triplex or fourplex, that's the formula. That's how I began. Actually ended up living there a little more than three years. But what that did for me was remarkable, and in fact, you know what it taught me? Kevin and every listener can benefit from this. It's paradoxical. A lot of times I say things that you would not expect to hear that make you go, wait what? Whoa, how can that be? Is what it taught me is that I don't want to focus on getting my money to work for me. You probably wouldn't expect to hear that. It's actually a middle class paradigm to say, well, I don't want to work for money. I also want to get my money to work for me. I'm telling. You that that's going to keep you middle class, or worse, that's going to keep you working until old age, and you won't have an outsized life and retirement and options. If you think that the best and highest use of your dollar is getting your money to work for you, it's not what's the paradigm shift if this four Plex building taught me the way I started out, which is still the way that I would start out today, and you probably heard this before, but I'm going to put a new twist on it. Is you want to ethically get other people's money to work for you, and we can be ethical. We can do good in the world. Provide housing that's clean, safe, affordable and functional. Never get called a slumlord that way. You can employ other people's money three ways at the same time, ethically by buying an income property with a loan, like we've been talking about in Florida, or with this fourplex building. How do you do it three ways at the same time, using the bank's money for the loan and leverage, which greatly amplifies your return beyond anything Compound Interest can do. The second of three ways you're ethically employing other people's money is you're using the tenants money to pay for the mortgage and some of the operating expenses on this fourplex. And then the third way you're simultaneously using other people's money is using the government's money for generous tax incentives at scale. So the lesson is that the best and highest use of your dollar is not getting just your money to work for you, it's other people's money, in this case, the banks, the tenants and the governments. That's what you can do. I mean, what an opportunity. A lot of people just don't even know about that FHA program.    Kevin Bupp  46:41   Yeah, I actually, I wasn't, I wasn't aware that it was that low of a down payment key. That's no idea. Three and a half percent, you said, a 550 credit score, believe me, 580 minimum credit.   Keith Weinhold  46:51   And you have to, thirdly, you have to owner occupy a unit for at least 12 months. And hey, I'm not saying it's always easy. You know, you got to think about that. Your neighbors are also your tenants. And I don't know how to fix stuff. I still don't. I'm a terrible handyman, but it's good to learn a little about about human relations. And you know, letting finding a general way to let the tenants know that you have a mortgage to pay every month. I mean, just that alone can can help them ensure timely rent payments. But, and this also doesn't mean every area, or every four Plex building is is good, but, yeah, that's the opportunity. That's how I started. I would totally do it again.   Kevin Bupp  47:27   Can you use that FHA program more than once? Or is that just the one time you know your first, first, first primary home purchase?   Keith Weinhold  47:34   It's generally you can only use one at a time. There are some exceptions, like if you and your job move, like, a certain mile radius away from where you got the first one, but, yeah, generally it's only going to be one at a time. A lot of people don't use it. Don't know about it. In fact, if you have VA benefits, Veterans Administration benefits, you can get a similar program, like I was talking about, but zero down payment, rather than three and a half with an FHA loan. It's a really good, amazingly good opportunity.    Kevin Bupp  48:05   That's incredible. That's incredible. Keith, my friend, I appreciate you coming back going. It's always good to catch up with you. Good to see that you're doing well.   Keith Weinhold  48:17   Oh yeah, a terrific chat there with Kevin. I hope that you like that really. At our core, real estate investors are not day trading. We are decade trading. Now I'm in western New York today, at the other end of the state, NYU compiled some terrific statistics that you want to hear about for nearly the past 100 years. It is the annualized returns of six major asset classes. This spans, the Great Depression, a number of recessions, World War Two, the New Deal, gold standard, abandonment, brendawoods, the Cold War, Civil Rights Movements, oil shocks, Volcker rate hikes, the.com boom and crash, the 911, attacks, the housing bubble, covid, 19, AI revolution and 16 presidencies, all those ups and downs and war and peace and economic booms and economic lows, and now there is going to be a mild tongue in cheek element here, because stats like this drive real estate investors crazy, but this is often how mainstream media portrays asset class comparisons. All right, the six asset classes are stocks, cash, bonds, real estate, gold, and then inflation, which isn't in an asset class, but it's a benchmark. All of these begin from the year 1930 so spanning almost 100 years. Let's take it from the lowest return to the high. Best return the lowest is inflation. And what do you think the CPI inflation rate is averaged over the last 100 years? Any guess at all? You might be surprised. It is 3.2% Yeah, even though the Fed's CPI inflation target has long been 2% it runs hot longer than most people believe. So therefore, today's inflation rate isn't high, it's just normal. The next highest return is cash at 3.3% How did NYU measure that the yield from three months T bills? Next up is bonds. They returned 4.3% that's the 10 year treasury average of the last 100 years. The next highest is real estate at 4.7% that uses the K Shiller Index. Now we're up to the second highest. It is gold at 5.6% and the highest is stocks at 10.3% using the s, p5, 100, and this was all laid out in a brilliant chart that also shows the returns by each decade for all of these asset classes. You'll remember that I shared the chart with you in our newsletter a few weeks ago. Now you are smarter and more informed than the layperson is, you know, but they see this chart and they think, Oh, well, that's it. I've got my answer. Real Estate's 4.7% appreciation loses out to gold's 5.6 and stocks 10.3 and then they go back to watching Love is blind. But of course, rental property owners like us know that we often make five times or more than this 4.7% when we consider all those other income streams and profit centers, leverage, rents, ROA and inflation, profiting on our debt, it's often 25 to 30% total. It's sort of like judging a Ferrari by only measuring its cupholders or something. Now, would stocks 10.3% get adjusted up as well? Yeah, probably a little, because the s and p5 100 currently averages a 1.2% dividend yield, so that might be added on the 4.7% return for real estate. That cites the popular Case Shiller Index. And the way that that index works is that it uses a repeat sales methodology. So what that means is that the Case Shiller measures the sales price of the same property over time. Therefore a property would have to sell at least twice in order to be measured by this popular and widely cited K Shiller Index. So then the 4.7% appreciation figure excludes new build homes, and new builds appreciate more than existing homes, but you do have more existing homes that sell the new build homes, so we can pretty safely assume that real estate's long term appreciation rate is higher, likely between five and 6% there it is. So yeah, making comparisons across asset classes like this is pretty tricky, because investment properties leverage and cash flow gets nullified. And when you make comparisons like this, it's a big reminder that even if you can't get much cash flow off a 20 or 25% down real estate payment, sheesh, most people put a 100% payment into stocks, gold or Bitcoin, and they don't expect any cash flow. And Bitcoin isn't part of what we're looking at for this century long view, because it did not exist until 2009 and also NYU had to use some alternative statistics. Sometimes the s, p5, 100 index only came into being in 1957 and the Case Shiller Index 1987    Keith Weinhold  54:02   next week here on the show, I expect to answer your listener questions from beginner to advanced. You've been writing in with some good ones for the production team here at GRE. That's our sound engineer, Vedran Jampa, who has edited every single GRE podcast episode since 2014 QC in show notes, Brenda Almendariz, video lead, brendawali strategy talamagal, video editor, seroza, KC and producer me, we'll run it back next week for you. I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 3  54:36   Nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Speaker 2  55:04   The preceding program was brought to you by your home for wealth building, get richeducation.com  

durée : 00:03:12 - Géopolitique - par : Pierre  Haski  - La visite du président russe en Inde est notable car Vladimir Poutine voyage peu depuis le mandat d'arrêt de la CPI ; mais elle est aussi significative des grandes manœuvres qui visent à redéfinir l'ordre mondial, tout comme la visite d'Emmanuel Macron en Chine. Vous aimez ce podcast ? Pour écouter tous les autres épisodes sans limite, rendez-vous sur Radio France.

In this episode, Adam Butler is joined by guest Mike Green to discuss his viral Substack articles on the American affordability crisis. The conversation explores the significant gap between official economic statistics, like CPI, and the lived financial reality for the middle class, a phenomenon Green argues is often dismissed by an expert "mockery machine." They also discuss the use of LLMs in his research process and debate potential policy solutions to address widespread economic precarity.Topics Discussed• The use of Large Language Models (LLMs) as productivity tools for research and writing.• A critique of the "mockery machine" in public discourse that dismisses legitimate concerns about the cost of living• The disconnect between formal economic definitions of inflation and the public's lived experience of unaffordability• The concept of a "precarity line" for a modern family versus the technical definition of a poverty line• The economic pressures leading to "ghost households," where young people forgo having children due to high costs• Flaws in economic metrics like the CPI, particularly how quality adjustments mask the true rise in essential costs• The societal gaslighting by the economic establishment and its political consequences.• The "Valley of Death" or benefits cliff, where withdrawing government support creates a barrier to entering the middle class• Debating policy solutions like tariffs, direct government investment, and incentive-based programs to address economic precarity

durée : 00:03:12 - Géopolitique - par : Pierre  Haski  - La visite du président russe en Inde est notable car Vladimir Poutine voyage peu depuis le mandat d'arrêt de la CPI ; mais elle est aussi significative des grandes manœuvres qui visent à redéfinir l'ordre mondial, tout comme la visite d'Emmanuel Macron en Chine. Vous aimez ce podcast ? Pour écouter tous les autres épisodes sans limite, rendez-vous sur Radio France.

Peter Grosskopf — former CEO of Sprott and co-founder of Argo — joins Scarce Assets to unpack why gold has been the runaway winner of 2025 and what that says about debt, inflation, and the end of “risk-free” bonds.Argo // SCP Resource FinanceConnect with Onramp // Onramp Institutional // ⁠Jackson Mikalic on X⁠WHAT WE COVER:- How gold became 2025's top-performing major asset while “nothing was really wrong”- Central bank de-dollarization: SWIFT sanctions, exploding US deficits, and reserve rebalancing- Why gold is quietly replacing Treasuries as the global “safe asset”- The debasement trade: protecting purchasing power when CPI underreports reality- Peter's personal allocation: ~50% in gold, silver, Argo balances, and miners- Liquidity, QT's end, and why the Fed's balance sheet likely has to grow again- Inside Argo: 24/7 direct-to-vault gold, outside the financial system, at ETF-beating costs- Tokenized gold (Tether, Pax) and why custody, vaults, and bankruptcy remoteness matterKEY INSIGHTS:- Gold's 2025 move isn't about a single crisis — it's decades of debasement risk finally being priced in- Central banks aren't just “adding diversification”; they're hedging both sanctions and US fiscal decay- For Peter, gold is no longer a hedge against dollars — it's the base unit of savings- Official inflation at 2–3% doesn't match lived experience; the real erosion feels closer to 5–7% with violent spikes- Treasuries are losing their status as the default safe haven; gold is stepping into that role- Bitcoin is still digesting leverage and maturing from a speculative tech trade into a long-horizon macro asset- Direct-to-vault and tokenized gold will sit at the core of the next monetary plumbing stackPETER'S THESIS: “Gold isn't just a crisis hedge anymore. It's the base case. The real experiment is trying to run this level of debt on fiat and calling it ‘risk-free.'”WHO IS PETER GROSSKOPF?- Co-Founder — Argo, a digital platform for direct-to-vault physical gold- Former CEO — Sprott (2010–2022), leading one of the world's premier precious metals firms- Managing Partner — SCP Resource Finance, focused on mining and real asset finance- 35+ Years in Financial Services — spanning trading, asset management, and capital markets- Lifelong precious metals investor now bridging vaulted gold with modern digital railsCHAPTERS:00:00 - Gold's Shock 2025 Rally & Peter's Background07:25 - Why Central Banks Are Rebuilding Gold Reserves14:20 - From 60/40 to Gold: Institutional Reallocation20:06 - Gold as the New “Safe Asset” Replacing Treasuries29:45 - Bitcoin vs Gold in 2025: Cycles, Leverage & Liquidity41:48 - Inside Argo: Direct-to-Vault Gold in the Digital Era50:04 - Tokenized Gold vs Direct Vault Ownership & Custody Risks54:40 - Key Takeaways, Where to Learn More & OutroScarce Assets: a biweekly podcast presented by Onramp which delves into the emergent role of bitcoin in finance professionals' strategies and outlooks. Hosted by Jackson Mikalic, Scarce Assets provides invaluable insights for wealth managers aiming to outperform their peers in the decades ahead. Finance professionals everywhere know about stocks and bonds, but the macroeconomic outlook requires that serious investors pay close attention to another category: Scarce Assets.Please subscribe to Onramp Media channels and sign up for weekly Research & Analysis to get access to the best content in the ecosystem weekly.

In this episode, we're joined again by Jim Paulsen to break down the key themes shaping markets and the economy heading into 2026. Jim explains why policymakers may be fighting the wrong battle, why real sustainable growth has quietly collapsed over the past 20 years, and how shifts in policy, demographics, productivity, inflation, and investor psychology all tie together. We also walk through Jim's latest charts from Paulsen Perspectives and explore what they mean for stocks, sectors, interest rates, the dollar, and leadership in the year ahead.Topics covered in this episode:• The state of inflation and why CPI and PPI may be sending a very different message• The 20-year collapse in real sustainable GDP growth• Why job creation, labor force growth, and productivity have all structurally weakened• The rise in unemployment duration and what it signals about lost “animal spirits”• How demographics, immigration policy, and cultural shifts are shaping growth• Productivity puzzles: innovation vs. distraction in a tech-driven economy• Why the real economic risk may be deflation, not inflation• How monetary policy, the yield curve, the dollar, and fiscal policy have remained contractionary• Tariffs as a hidden tax and their real impact on inflation• How an easing cycle could reshape market leadership in 2026• Jim's Total Policy Stimulus Index and what it reveals about small caps, cyclicals, value, and foreign stocks• The difference between today's tech cycle and the dot-com bubble• What a broadening market might look like if policy finally turns supportive• How international equities could respond to a weaker dollar• Why tech may underperform without collapsing• Jim's expectations for S&P 500 returns in 2026 and the potential for a more balanced leadership environmentTimestamps:00:00 Market setup and inflation overview02:00 Reviewing recent corrections and sector broadening04:00 Bond yields, easing expectations, and fear-based asset leadership06:00 Tech's relative performance beginning to fade07:00 GDP growth collapse over two decades09:00 Structural slowdown in job creation10:30 Labor force growth and aging demographics12:00 The doubling of unemployment duration14:00 Population trends, immigration, and slowing productivity17:00 The rise of de-risking and falling monetary velocity19:00 Trade deficits, globalization, and policy contraction22:00 Why inflation risk may be overstated26:00 CPI/PPI data versus the inflation narrative29:00 Money supply, real rates, and the longest yield curve inversion31:00 The strong dollar as a contractionary force34:00 International stock performance and currency impact35:00 Tax burden relative to slower growth37:00 Tariffs as taxes and their real economic effect39:00 What would it take to restore growth and optimism?42:00 The Total Policy Stimulus Index explained47:00 Policy's impact on equal-weight, small caps, cyclicals, and value52:00 How foreign stocks respond to policy and the dollar54:00 Tech valuations today vs. the dot-com era55:00 Fed response differences between now and 200057:00 Why today's tech cycle is structurally different59:00 What 2026 might look like for the S&P 50001:01:00 Why price targets are inherently unreliable01:01:45 Closing thoughts and sign-off

What you'll learn in this episode:● The real reason clients push back and it's not what you think● How to navigate emotional conversations with ease using the CPI model● The psychology behind resistance and how to transform it into agreement● A behind-the-scenes look at launching high-converting sales campaigns● How to use A/B testing with text messaging scripts to improve response rates● The “duck and tickle” method for defusing tough conversations To find out more about Dan Rochon and the CPI Community, you can check these links:Website: No Broke MonthsPodcast: No Broke Months for Salespeople PodcastInstagram: @donrochonxFacebook: Dan RochonLinkedIn: Dan RochonTeach to Sell Preorder: Teach to Sell: Why Top Performers Never Sell – And What They Do Instead

September's economic data is finally out—despite government shutdown delays—and it offers a mixed but important look at inflation, spending, and what's coming next for interest rates. In this episode, Kathy breaks down the latest Producer Price Index showing cooling core wholesale inflation, rising energy costs, and how retail sales held up in September. She also explains what the delayed CPI and PPI reports mean for market volatility, Fed decisions, and real estate investors heading into year-end. JOIN RealWealth® FOR FREE https://realwealth.com/join-step-1  FOLLOW OUR PODCASTS Real Wealth Show: Real Estate Investing Podcast https://link.chtbl.com/RWS Source:  https://www.cnbc.com/2025/11/25/core-wholesale-prices-rose-less-than-expected-in-september-retail-sales-gain.html