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Tom Bodrovics introduces Chris Whalen, author of Inflated: Money, Debt, and the American Dream, which has been re-released in a second edition with significant updates. The conversation focuses on the current state of markets, the impact of President Trump's tariff policies, and the challenges posed by the federal debt and inflation. Chris explains that he removed 20,000 words from his original book to make space for a new chapter analyzing the Federal Reserve's management of the money supply under Ben Bernanke, Janet Yellen, and Jerome Powell. He highlights how the U.S. housing market has become heavily government-supported, leading to increased volatility and rising costs for consumers. Discussing inflation, Chris notes that it is driven by the inability of governments to generate sufficient income to meet their people's needs, as seen in countries like Argentina. He argues that borrowing from future income through debt creates distortions, particularly in housing markets, where prices have surged due to low interest rates and government intervention. He also critiques the dysfunctionality of Congress, which he believes is unable to pass budgets or manage spending effectively. Chris emphasizes the importance of gold as a hedge against inflation and expresses skepticism about stablecoins and cryptocurrencies, calling them speculative vehicles rather than reliable alternatives to fiat currency. He suggests that the U.S. dollar's dominance in global markets contributes to inflationary pressures, as other countries benefit from using dollars without bearing the associated costs. The discussion concludes with Chris offering an optimistic outlook, noting that while challenges remain, opportunities exist for investors to navigate inflation through real estate and gold. He encourages listeners to manage investments with a long-term perspective, considering the erosive effects of even low levels of inflation over time. Time Stamp References:0:00 - Introduction1:02 - His Revised Book3:08 - Tariffs & Debt Distortions7:12 - Reserve Currency & Inflation11:03 - Debt Markets & Fed/Banks17:32 - National Debt & Spending21:18 - DOGE Cuts & Old Systems30:17 - Trump's Strategy?34:04 - Gold During Nixon Era39:08 - Book & US Administrations44:13 - MMT Era & Cryptocurrency?50:21 - Silver Supply & 1800s52:06 - Stablecoin Backing55:02 - Concluding Thoughts56:33 - Wrap Up Guest Links:Website: https://www.rcwhalen.com/X: https://x.com/rcwhalenBooks (Amazon): https://tinyurl.com/mv3wctcrLinkedIn: https://www.linkedin.com/in/rcwhalen/ Richard Christopher Whalen is an investment banker and author based in New York. He serves as Chairman of Whalen Global Advisors LLC, focusing on banking, mortgage finance, and fintech sectors. Christopher is a contributing editor at National Mortgage News and a general securities principal and member of FINRA. From 2014 to 2017, he was the Senior Managing Director and Head of Research at Kroll Bond Rating Agency, leading the Financial Institutions and Corporate Ratings Groups. Previously, he was a principal at Institutional Risk Analytics from 2003 to 2013. Over three decades, Chris has worked as an author, financial professional, and journalist in Washington, New York, and London. After graduating, he served under Rep. Jack Kemp (R-NY) at the House Republican Conference Committee. In 1993, he was the first journalist to report on secret FOMC minutes concealed by Alan Greenspan. His career included roles at the Federal Reserve Bank of New York, Bear Stearns & Co., Prudential Securities, Tangent Capital, and Carrington Mortgage Holdings. Christopher holds a B.A. in History from Villanova University. He is the author of three books: "Ford Men: From Inspiration to Enterprise" (2017), published by Laissez Faire Books; "Inflated: How Money and Debt Built the American Dream" (2010) by John Wiley & Sons; and co-author of "Financial Stability: Fraud, Confidence & the Wealth of Nations,
Apr 25, 2025 – In this compelling interview, Jim Puplava sits down with Chris Whalen, financial expert and author of Inflated: How Money and Debt Built the American Dream, to explore our nation's fascinating and turbulent relationship with money...
So often, the Inflation Guy is asked to recommend a good book on inflation. Just one? That's crazy. There are oodles of good books on inflation, and in this episode the Inflation Guy recommends eight. Okay, one of the recommendations was less-than-enthusiastic. But these are all worth reading. Listen to the podcast, and visit the links below to see the books in Amazon or other site. Disclosure: the Inflation Guy doesn't make a red cent from clicking those links. So click away. NOTES Podcast Callback: Ep. 15: An Interview with Special Guest Milton Friedman Books Referred to: Fiat Money Inflation in France, Andrew Dickson White, 1933 (free pdf) When Money Dies, Adam Fergusson, 2010 Inflated: How Money and Debt Built the American Dream, R. Christopher Whalen, 2010 The Great Inflation and Its Aftermath: The Past and Future of American Affluence, Robert J. Samuelson, 2010 (funny how many of these are from 2010. Never noticed that before.) Money Mischief: Episodes in Monetary History, Milton Friedman, 1994 Asking About Prices: A New Approach to Understanding Price Stickiness, Alan Blinder, Elie Canerri, David Lebow, 1998 The Great Demographic Reversal: Ageing Societies, Waning Inequality, and an Inflation Revival, Charles Goodhart and Manoj Pradhan, 2020 The Mandibles: A Family, 2029-2047, Lionel Shriver, 2017 To Subscribe to Quarterly Inflation Outlook: https://inflationguy.blog/shop/ To Subscribe for free to the blog: https://inflationguy.blog/ Check out the new website!: https://www.EnduringInvestments.com/
This episode was originally published on November 1st, 2021. Who are the Rogers family? How did they get so powerful? Why have they turned against one another? And what does it matter? We've spent a week immersed in Rogers history to bring you this unofficial narrative of Canada's telecom overlords.Further reading:Kelly Pullen's 2014 story in Toronto Life on the “ruthless” power struggle at Rogers: https://torontolife.com/from-the-archives/edward-rogers-the-man-who-would-be-king/Ted Rogers' last interview, with Alan Gregg: https://www.youtube.com/watch?v=9B-hlNXKYZ0Ted Rogers' Anniversary novelty song: https://vimeo.com/95189390The Globe and Mail's best (and perhaps only) headline about a significant butt-dial: https://www.theglobeandmail.com/business/article-rogers-ceo-joe-natale-learned-of-edward-rogerss-plan-to-oust-him/Ted Rogers' Autobiography, “Relentless” – https://www.amazon.ca/dp/B00E7S2P9AHigh Wire Act: Ted Rogers and the Empire that Debt Built, by Caroline Van Hasselt : https://www.amazon.ca/dp/B003E8AJRECredits: Jesse Brown (Host & Publisher), Jonathan Goldsbie (News Editor), Cherise Seucharan (Reporter, CANADLAND), Damiola Onime (Producer), Additional Music by Audio NetworkIf you value this podcast, Support us! You'll get premium access to all our shows ad free, including early releases and bonus content. You'll also get our exclusive newsletter, discounts on merch, tickets to our live and virtual events, and more than anything, you'll be a part of the solution to Canada's journalism crisis, you'll be keeping our work free and accessible to everybody.You can listen ad-free on Amazon Music—included with Prime. Hosted on Acast. See acast.com/privacy for more information.
Support Canadaland here Who are the Rogers family? How did they get so powerful? Why have they turned against one another? And what does it matter? We've spent a week immersed in Rogers history to bring you this unofficial narrative of Canada's telecom overlords. Further reading: Kelly Pullen's 2014 story in Toronto Life on the "ruthless" power struggle at Rogers: https://torontolife.com/from-the-archives/edward-rogers-the-man-who-would-be-king/ Ted Rogers' last interview, with Alan Gregg: https://www.youtube.com/watch?v=9B-hlNXKYZ0 Ted Rogers' Anniversary novelty song: https://vimeo.com/95189390 The Globe and Mail's best (and perhaps only) headline about a significant butt-dial: https://www.theglobeandmail.com/business/article-rogers-ceo-joe-natale-learned-of-edward-rogerss-plan-to-oust-him/ Ted Rogers' Autobiography, "Relentless" - https://www.amazon.ca/dp/B00E7S2P9A High Wire Act: Ted Rogers and the Empire that Debt Built, by Caroline Van Hasselt : https://www.amazon.ca/dp/B003E8AJRE Sponsors Douglas, Article, Squarespace, Dispatch Coffee Additional Music by Audio Network Support CANADALAND: http://canadalandshow.com/join See omnystudio.com/listener for privacy information.
Jason interviews Chairman of Whalen Global Advisors LLC, R. Christopher Whalen. Whalen speaks on location changes of people and businesses due to Coronavirus. Not only are business locations changing, but companies have been forced to move away from the “old way” of doing business and finally adapting to innovations in technology and communication. Whalen also gives a glimpse into his recent book and discusses the fed’s strategy to steer clear of deflationary times. Will we see consequences from the creation of money and bailouts? Books: Inflated, How Money & Debt Built the American Dream by R. Christopher Whalen Key Takeaways: [2:00] Not only are people leaving big cities, like NYC, because of COVID-19, but large companies are also looking to move so that they can relocate their people. [4:30] Coronavirus has forced businesses to move out of “the old way.” [8:50] A brief history of banking, from Abraham Lincoln to present. [11:20] Before the creation of The Fed, J.P. Morgan was essentially the central bank. [13:00] Whalen breaks down how he differentiates between inflated as he puts it and inflation. [18:15] Will we see any consequences from the creation of money and bailouts? [19:00] Quantitative Easing: central banks buy government bonds or other financial assets to inject money into the economy to expand its activity. Websites: www.rcwhalen.com/ JasonHartman.com/Asset JasonHartman.com/Webinar www.JasonHartman.com www.JasonHartman.com/properties Jason Hartman Quick Start Jason Hartman PropertyCast (Libsyn) Jason Hartman PropertyCast (iTunes) 1-800-HARTMAN
Jason interviews Chairman of Whalen Global Advisors LLC, R. Christopher Whalen. Whalen speaks on location changes of people and businesses due to Coronavirus. Not only are business locations changing, but companies have been forced to move away from the “old way” of doing business and finally adapting to innovations in technology and communication. Whalen also gives a glimpse into his recent book and discusses the fed's strategy to steer clear of deflationary times. Will we see consequences from the creation of money and bailouts? Books: Inflated, How Money & Debt Built the American Dream by R. Christopher Whalen Key Takeaways: [2:00] Not only are people leaving big cities, like NYC, because of COVID-19, but large companies are also looking to move so that they can relocate their people. [4:30] Coronavirus has forced businesses to move out of “the old way.” [8:50] A brief history of banking, from Abraham Lincoln to present. [11:20] Before the creation of The Fed, J.P. Morgan was essentially the central bank. [13:00] Whalen breaks down how he differentiates between inflated as he puts it and inflation. [18:15] Will we see any consequences from the creation of money and bailouts? [19:00] Quantitative Easing: central banks buy government bonds or other financial assets to inject money into the economy to expand its activity. Websites: www.rcwhalen.com/ JasonHartman.com/Asset JasonHartman.com/Webinar www.JasonHartman.com www.JasonHartman.com/properties Jason Hartman Quick Start Jason Hartman PropertyCast (Libsyn) Jason Hartman PropertyCast (iTunes) 1-800-HARTMAN
Jason Hartman talks about the K-Shaped recovery. Are we moving to a smaller economy? Can Biden kill the 1031 exchange, and use those tax funds elsewhere? How will this impact every aspect of real estate surrounding investor deals? Jason interviews Chairman of Whalen Global Advisors LLC, R. Christopher Whalen. Whalen speaks on location changes of people and businesses due to Coronavirus. Not only are business locations changing, but companies have been forced to move away from the “old way” of doing business and finally adapting to innovations in technology and communication. Whalen also gives a glimpse into his recent book and discusses the fed's strategy to steer clear of deflationary times. Will we see consequences from the creation of money and bailouts? Books: Inflated, How Money & Debt Built the American Dream by R. Christopher Whalen Key Takeaways: [1:00] Jason talks about the recovery shapes: are we moving into a smaller economy? [5:00] Businesses going virtual. [9:20] Biden wants to kill the 1031 exchange. [15:00] Could Biden use the elimination of the 1031 exchange as a way of embarrassing Trump? R. Christopher Whalen [21:00] Not only are people leaving big cities, like NYC, because of COVID-19, but large companies are also looking to move so that they can relocate the people that work within them. [23:30] Coronavirus has forced businesses to move out of “the old way.” [27:50] A brief history of banking, from Abraham Lincoln to present. [30:20] Before the creation of The Fed, J.P. Morgan was essentially the central bank. [32:00] Whalen breaks down how he differentiates between inflated as he puts it and inflation. [37:15] Will we see any consequences from the creation of money and bailouts? [38:00] Quantitative Easing: central banks buy government bonds or other financial assets to inject money into the economy to expand its activity. Websites: www.rcwhalen.com/ JasonHartman.com/Asset JasonHartman.com/Webinar www.JasonHartman.com www.JasonHartman.com/properties Jason Hartman Quick Start Jason Hartman PropertyCast (Libsyn) Jason Hartman PropertyCast (iTunes) 1-800-HARTMAN
Jason Hartman talks about the K-Shaped recovery. Are we moving to a smaller economy? Can Biden kill the 1031 exchange, and use those tax funds elsewhere? How will this impact every aspect of real estate surrounding investor deals? Jason interviews Chairman of Whalen Global Advisors LLC, R. Christopher Whalen. Whalen speaks on location changes of people and businesses due to Coronavirus. Not only are business locations changing, but companies have been forced to move away from the “old way” of doing business and finally adapting to innovations in technology and communication. Whalen also gives a glimpse into his recent book and discusses the fed’s strategy to steer clear of deflationary times. Will we see consequences from the creation of money and bailouts? Books: Inflated, How Money & Debt Built the American Dream by R. Christopher Whalen Key Takeaways: [1:00] Jason talks about the recovery shapes: are we moving into a smaller economy? [5:00] Businesses going virtual. [9:20] Biden wants to kill the 1031 exchange. [15:00] Could Biden use the elimination of the 1031 exchange as a way of embarrassing Trump? R. Christopher Whalen [21:00] Not only are people leaving big cities, like NYC, because of COVID-19, but large companies are also looking to move so that they can relocate the people that work within them. [23:30] Coronavirus has forced businesses to move out of “the old way.” [27:50] A brief history of banking, from Abraham Lincoln to present. [30:20] Before the creation of The Fed, J.P. Morgan was essentially the central bank. [32:00] Whalen breaks down how he differentiates between inflated as he puts it and inflation. [37:15] Will we see any consequences from the creation of money and bailouts? [38:00] Quantitative Easing: central banks buy government bonds or other financial assets to inject money into the economy to expand its activity. Websites: www.rcwhalen.com/ JasonHartman.com/Asset JasonHartman.com/Webinar www.JasonHartman.com www.JasonHartman.com/properties Jason Hartman Quick Start Jason Hartman PropertyCast (Libsyn) Jason Hartman PropertyCast (iTunes) 1-800-HARTMAN
Jason Hartman talks about the K-Shaped recovery. Are we moving to a smaller economy? Can Biden kill the 1031 exchange, and use those tax funds elsewhere? How will this impact every aspect of real estate surrounding investor deals? Jason interviews Chairman of Whalen Global Advisors LLC, R. Christopher Whalen. Whalen speaks on location changes of people and businesses due to Coronavirus. Not only are business locations changing, but companies have been forced to move away from the “old way” of doing business and finally adapting to innovations in technology and communication. Whalen also gives a glimpse into his recent book and discusses the fed’s strategy to steer clear of deflationary times. Will we see consequences from the creation of money and bailouts? Books: Inflated, How Money & Debt Built the American Dream by R. Christopher Whalen Key Takeaways: [1:00] Jason talks about the recovery shapes: are we moving into a smaller economy? [5:00] Businesses going virtual. [9:20] Biden wants to kill the 1031 exchange. [15:00] Could Biden use the elimination of the 1031 exchange as a way of embarrassing Trump? R. Christopher Whalen [21:00] Not only are people leaving big cities, like NYC, because of COVID-19, but large companies are also looking to move so that they can relocate the people that work within them. [23:30] Coronavirus has forced businesses to move out of “the old way.” [27:50] A brief history of banking, from Abraham Lincoln to present. [30:20] Before the creation of The Fed, J.P. Morgan was essentially the central bank. [32:00] Whalen breaks down how he differentiates between inflated as he puts it and inflation. [37:15] Will we see any consequences from the creation of money and bailouts? [38:00] Quantitative Easing: central banks buy government bonds or other financial assets to inject money into the economy to expand its activity. Websites: www.rcwhalen.com/ JasonHartman.com/Asset JasonHartman.com/Webinar www.JasonHartman.com www.JasonHartman.com/properties Jason Hartman Quick Start Jason Hartman PropertyCast (Libsyn) Jason Hartman PropertyCast (iTunes) 1-800-HARTMAN
Join us as we sit down and discuss with the couple Marques & Shyra Murrey better known as Black Married & Debt Free as they take us through how they paid off over six figures worth of debt and built a real estate empire in 2 years --- Support this podcast: https://anchor.fm/monetize/support
In the 1980s, you could get double digit returns on your savings. Interest rates were that high. That said, inflation was out of control as well so the real value of earnings might not be as attractive as it is at first glance but certainly better than today. Today’s economy punishes savers be eroding there […] The post 043: Inflated: How Money and Debt Built the American Dream-Christopher Whalen appeared first on Wealth Formula.
Jason Burack of Wall St for Main St interviewed returning guest, investment banker, financial analyst, bond analyst, credit analyst, bank analyst & author, Christopher Whalen http://www.rcwhalen.com/ Chris is considered one of the top bank & credit analysts in the US. Follow Chris on Twitter @rcwhalen https://twitter.com/rcwhalen Chris is also Head of Research at Kroll Bond Rating Agency in New York. https://www.krollbondratings.com/about-us/bios/detail/christopher-whalen Christopher is the author of the 2010 book, Inflated: How Money and Debt Built the American Dream, now in its second edition from John Wiley & Sons. Christopher co-authored a book with veteran securities counsel Frederick Feldkamp in 2014 entitled Financial Stability: Fraud, Confidence & the Wealth of Nations published by John Wiley & Sons. His new book project is entitled Ford Men: From Inspiration to Enterprise, a study of Ford Motor Co and the Ford family that spans the history of 20th Century America, starting with the great inventor in the early 1900s and going through to the present day. Available in Q1 2017. Chris' Amazon page of books he has written: https://www.amazon.com/R.-Christopher-Whalen/e/B004F9DITC/ "The real division is not between conservatives and revolutionaries, but between authoritarians and libertarians." -George Orwell Jason starts off the interview by asking Chris if he thinks the Dodd-Frank bank regulations after the 2008 financial crisis have helped fuel a new commercial real estate bubble like Danielle DiMartino Booth has suggested http://dimartinobooth.com/commercial-real-estate-towers-gold-pillars-salt/. Jason and Chris discuss the European banking crisis, Deutsche Bank and also the history of Ford Motor Company and whether Tesla Motors will succeed and become the top automobile company?
Joining the broadcast today to discuss the new qualified mortgage rules is Chris Whalen, Executive Vice President and Managing Director for Carrington Holding Company. Carrington operates in virtually every aspect of the real estate and mortgage space. Chris currently writes a twice weekly column, Washington & Wall Street, on the Breibart.com web site. He also contributes articles to Zero Hedge, American Banker and The National Interest. Chris has testified before Congress, the Securities and Exchange Commission and the Federal Deposit Insurance Corporation on a range of financial, economic and political issues and is a regular commentator on Bloomberg and other news organizations Lastly Chris is the author of the December 2010 book, “inflated: How Money and Debt Built the America Dream”.
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Christopher Whalen is co-founder of Institutional Risk Analytics, a unit of Lord, Whalen LLC, the Los Angeles based provider of bank ratings, risk management tools and consulting services for auditors, regulators and financial professionals. He leads IRA's risk advisory practice and consults for global companies on a variety of financial and regulatory issues. Christopher is the author of the new book, 'Inflated: How Money and Debt Built the American Dream.' Christopher currently edits The Institutional Risk Analyst, a weekly news report and commentary on significant developments in and around the global financial markets. He also contributes articles on the Reuters and Zero Hedge web sites. Christopher has testified before the Congress and the Securities and Exchange Commission on a range of financial and other issues. Christopher is a Fellow of the Networks Financial Institute at Indiana State University.
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Today Christopher Whalen discusses his new book: Inflated: How Money and Debt Built the American Dream, which tells the story of inflation and public debt as enduring (and perhaps endearing) and describes the habits that are so instilled in us, as our history repeatedly shows, that to suggest alternatives, like returning to the gold standard, is an exercise in futility! He says that most Americans tend to view themselves as reasonably prudent people, reflecting the puritan roots of their European ancestors, but at the same time feel entitled to a lifestyle, individually and nationally, that is well above the rest of the world's, and well beyond our current means. Inflated explores more than two hundred years of American politics and monetary policy to examine this conflict. Is the current understanding of the American Dream, one of entitlement, so ingrained that to expect Americans willingly to live in a deflated world is unrealistic? For more information go to: www.rcwhalen.com
Today Christopher Whalen discusses his new book: Inflated: How Money and Debt Built the American Dream, which tells the story of inflation and public debt as enduring (and perhaps endearing) and describes the habits that are so instilled in us, as our history repeatedly shows, that to suggest alternatives, like returning to the gold standard, is an exercise in futility! He says that most Americans tend to view themselves as reasonably prudent people, reflecting the puritan roots of their European ancestors, but at the same time feel entitled to a lifestyle, individually and nationally, that is well above the rest of the world's, and well beyond our current means. Inflated explores more than two hundred years of American politics and monetary policy to examine this conflict. Is the current understanding of the American Dream, one of entitlement, so ingrained that to expect Americans willingly to live in a deflated world is unrealistic? For more information go to: www.rcwhalen.com
Recorded at The Mises Circle in Manhattan, on May 22nd, 2010. [37:10]