Podcasts about deficits

The Wealth Formula Podcast is one of the longest-running personal finance podcasts still standing. For more than a decade, I've shown up every single week to talk about investing, markets, and the forces shaping the economy. What's interesting is how much my own thinking has evolved over that time. Early on, I was more rigid. I was—and still am—a real estate guy. But back then, I didn't give much thought to ideas outside that lane. I was dogmatic, and I didn't always challenge my own beliefs. Time has a way of doing that for you. I've now lived through multiple market cycles. I've watched the stock market melt up to valuations that felt absurd—and then keep going. I've seen gold go from flat for a decade to parabolic over a year. I've seen interest rates sit near zero for a decade and then snap higher at the fastest pace in modern history. And I've learned, sometimes the hard way, that diversification is about survival and that every asset class has its day. One lesson I learned that I am thinking a lot about these days is: ignore major technological shifts at your own peril. Back in 2014, I first started hearing people talk seriously about Bitcoin. At the time, I dismissed it. I listened to the critics, was convinced it was a scam, and didn't take the time to truly understand it. That was a mistake—not because everyone should have bought Bitcoin, but because I ignored a structural change happening right in front of me. Bitcoin went from a cypherpunk expression of freedom to the largest ETF owned by BlackRock. Today, the dominant story is artificial intelligence. And whether you love stocks, hate stocks, prefer real estate, or focus exclusively on cash flow, you cannot afford to ignore AI. This isn't a fad. It's a general-purpose technology—on the scale of electricity, the internet, or the industrial revolution itself. That doesn't mean it's easy to invest in. It's hard to look at headline names trading at massive valuations and feel good about buying them today. But investing in AI isn't about chasing a single company. It's about understanding second- and third-order effects: energy demand, data centers, productivity gains, labor displacement, capital flows, and how blockchain and decentralized systems intersect with all of it. What experience has taught me is this: you don't need to be first to invest—but you do need to be early in understanding. If you wait until something feels obvious, most of the opportunity is already gone. This week's episode of the Wealth Formula Podcast is focused squarely on AI and blockchain—what's real, what's noise, and where the long-term implications may lie. Listen to this episode. You'll come away smarter. And years from now, you may look back and realize this was one of those moments where paying attention really mattered. Transcript Disclaimer: This transcript was generated by AI and may not be 100% accurate. If you notice any errors or corrections, please email us at phil@wealthformula.com.  Welcome everybody. This is Buck Joffrey with the Wealth Formula Podcast. Coming to you from Montecito, California. Today we wanna start with a reminder. We are in a new year and we are already doing deals, uh, through the Wealth Formula Accredit Investor Club. You can go and sign up for that for free. Uh, wealth formula.com just hit investor club and you just get on there and, and you’ll get onboarded. And from there, all you gotta do is wait for deal flow and webinars coming to your inbox. And, um, you know, if nothing else, you learn something. So go check it out. Uh, go to. Wealth formula.com and sign up for Investor Club now onto today’s show. Uh, the, it is interesting. I don’t know if you are aware it’s a listener, but we are, wealth Formula is, uh, probably I would say one of the, certainly in the one of the top longest running personal finance podcasts still. Standing. Uh, I’ve been around, well, I think the first episode was on like 2014, so it was a long time, but in earnest, you know, at least for over a decade. And, you know, during that time, I’ve shown up every week, every single week. Don’t Ms. Weeks, but none, none. Isn’t that incredible? I’ve shown up, uh, talked about investing and talked about very way markets are working, forces, shaping the economy, all that kind of stuff. But you know, as you can imagine, as a. As a younger individual versus, um, my crusty self. Now, you know, a lot of my own thinking has evolved over that time, you know, back then. And I, you know, I think this appealed to some people, but, um, you know, I was really dogmatic. I’m a real estate guy, right? And I still am a real estate guy, but back then I wouldn’t give anything else the time of day to even think about, you know, and, and, uh, I, I, you know. I was dogmatic and didn’t always challenge my own belief systems. Um, I’m different now, right? I’ve softened And time is a way of, of changing all of that dogmatic stuff for you. You know, I’ve lived through multiple market cycles. I’ve watched, well, I’ve watched the stock market, which I, which I always maligned, you know, melt up to valuations. Uh, that felt absurd. And then keep going higher. I’ve seen gold, which was kind of ridiculous for the longest time. I watched it for like a decade, just pretty much flat, and then it goes parabolic. Over the last year, I’ve seen interest rates sit near zero for a decade and then snap higher. Uh, not even as time, just launch higher at the fastest space in modern history. And I’ve learned sometimes I guess, the hard way that diversification is about survival and that every class, every asset class has its day. Just like every dog has its day. And um, you know, one other lesson that I learned that I’m thinking a lot about these days is ignore major technological shifts at your own peril. So what am I talking about? Well. It’s kind of a, it is a technological shift, whether you think it about not, but Bitcoin. Okay. Back in 2014, I first started hearing people talk seriously about Bitcoin, and at that time I dismissed it. I was, uh, I was listening to critics beater Schiff that constantly called it a scam, said it was going to zero and so on. I didn’t, I didn’t take the time to truly understand it, to try to understand it the way I understand it now, that makes me a believer in Bitcoin. That, of course was a big mistake, not because, you know, everyone should have bought Bitcoin and, uh, back then, well, they, you know, would’ve been nice if they did, but because fundamentally I ignored something that was a structural change happening right in front of me. And since then, Bitcoin went from a cipher punk expression of freedom to the large CTF owned by BlackRock today. The dominant story is actually artificial intelligence. Now, whether you love stocks, hate stocks, prefer real estate focused exclusively on cab, whatever, you cannot afford to ignore ai. It’s not a fad. It’s a general purpose technology and a technology shift, and the scale of electricity. The internet bigger than the internet, bigger than the industrial revolution. Now, that doesn’t mean it’s easy to invest in. I mean, I’m gonna go invest in AI and make a bunch of money because I mean, what does that even mean? It’s hard to look at headline names, trading at massive valuations like Nvidia and all that right now, and saying, oh, I’m gonna go buy that. Who knows? That’s gonna work out. When I talk about investing in AI isn’t really just investing in stocks or any individual company or data centers or whatever. It’s about understanding. The second and third order effects, energy demand. You know, as I mentioned, data centers, productivity gains, labor displacement, capital flows, and how blockchain and decentralized systems intersect with all of that. It is very, very complicated. Um, but it’s really important to start to try to understand, you know, an experience that stop me is this. You don’t need to be the first to invest, but you do need to be early in understanding. If you wait until something feels obvious, usually the opportunity’s gone by then. And you know, the thing about AI is even if you think it’s obvious now. The reality is that most people haven’t really caught on. Maybe they played with chat GPT, but I don’t think they’re understanding what this whole, you know, this thing is gonna do to our world. Um, anyway, so that is what this week’s episode of Wealth Formula Podcast, uh, is about. It’s about AI and also, um, a little bit about, you know, bitcoin and blockchain and that kind of thing. Um, we’re gonna talk about what’s noise, uh, you know, where the long, what the long-term, uh, implications are all of this stuff. This is a show that, uh, I really enjoy doing really, really good stuff. Um, so make sure you listen in. We’ll have that interview for you right after these messages. Wealth Formula banking is an ingenious concept powered by whole life insurance, but instead of acting just as a safety net. The strategy supercharges your investments. First, you create a personal financial reservoir that grows at a compounding interest rate much higher than any bank savings account. As your money accumulates, you borrow from your own bank to invest in other cash flowing investments. Here’s the key. Even though you borrowed money at a simple interest rate, your insurance company keeps paying you compound interest. On that money, even though you’ve borrowed it, that result, you make money in two places at the same time. That’s why your investments get supercharged. This isn’t a new technique. It’s a refined strategy used by some of the wealthiest families in history, and it uses century old rock solid insurance companies as its backbone. Turbocharge your investments. Visit Wealth formula banking.com. Again, that’s wealth formula banking.com. Welcome back to the show, everyone. Today. My guest on Wealth Formula podcast is Jim Thorne, chief Market strategist at Wellington. L is private wealth with more than 25 years of experience in capital markets. He’s previously served as chief capital market strategist, senior portfolio manager, chief economist, and CIO. Uh, equities at major investment firms and has also taught economics and finance at the university level. Uh, Jim is known for translating complex economic, political, and market dynamics into clear actionable insights to help investors and advisors navigate long-term capital decisions. Uh, Jim, welcome with the program. Thanks for having me Buck. Well, um, Tim, I, I, I, uh, had been following a little bit of, uh, what you discuss on, uh, on X and, um, one of the things that caught my eye is, you know, your, your narrative on, on ai, a lot of people are tend to be still sort of skeptical of AI and what’s going on, uh, with the markets. Um, uh, but at the same time, uh, there’s this. Sense. I think that ignoring AI altogether as an investor is, is, is downright potentially dangerous. So, uh, at the highest level, why is AI something people simply can’t dismiss? Well, we live in an, uh, uh, you know, many other people have coined this term, but we live, we’re living in an exponential age of, of technological innovation. And, you know, AI and I’ll just add into their, uh, blockchain is just the normal evolutionary process that, you know, for me started when I left graduate school and came into the business in the nineties where everybody had this high degree of skepticism of the computer and the, the, the phone, the, the. And the internet. And so, you know, what we do is we go through these cycles and there are periods of time where the stars align. And we have a period of time where we have what I would call an intense period of innovation where I would suggest to you that. People are skeptical. Skeptical, and yet at the same point in time, they very early on in the, in the, in the trade, call it a bubble when it’s not. And so I think it comes from the position of ignorance. One, I think two, fear, and then three. If you think about if you are an active manager, I in a 40 ACT fund, um, you know, and you’re sitting there with, uh, you know, mi. Uh, Nvidia at, you know, eight or 9% of your index. And that’s a big chunk that you’ve gotta put into your fund, uh, just to be market neutral. So there’s a lot of people that hate this rally. There’s a lot of people that are can, going to continue to hate this rally. But the thing I anchor my hat on are a couple of things. Look at if this is no different than the railroad. Canals, any major technological innovation, will it become a bubble? Yes. Just not now. So, so let’s follow up on that, because a lot of people think, or are talking about the, do you know the.com bubble, uh, comparisons, and you’ve argued that that sort of misses the real story. So, so where are we getting it wrong right now? Are those people getting it wrong? In the nineties buck, you’d walk into a bar and there wouldn’t be ESPN on there’d be CNBC on people were getting their jobs to become day traders. Folks didn’t go to the go to university because they were basically getting their white papers financed. You had companies that were trading off of clicks. So I lived that. Anybody who is of a younger generation has no idea what a bubble is, and it’s specious and pedantic for them to use that term when they have no clue about what they’re talking about. But you did mention that it could become a bubble. How do we know when it does become a bubble? Oh, it’ll become a bubble. Well, when, when, when you know, the, what, what I am looking for is, you know, when we, when the good investment opportunities start to dry up, when liquidity starts to dry up. So what I, it’s not about valuation, to me it’s about liquidity. So in 2000, what, and I’m roughly speaking, what went down was you had all these companies that were trading at Strat catastrophic valuation, this stupid valuations, and you walked in one day and they didn’t get financing. And if you read the prospectus or you followed the company, you knew that they were not going to be free cash flow positive for another two or three rounds of financing. All of a sudden you walked in and everybody goes, oh my God, this thing, you know, trading at 250 times sales. And everybody went, yeah, of course. And so what it was is, was when does liquidity dry up? So I’ll give you a date, um, you know, with Trump’s big beautiful bill act. 100% tax deductibility of CapEx and that goes until Jan 1, 20 31. So to me, that’s a very motivating factor for people to, um, invest. The last thing I would say to you in more of a game theoretic context book is, look, if you are a big tech company and you don’t invest in ai. You are ensuring your death. Yahoo, Hela Packard. I can go through the list of companies that cease to invest, so they’re looking. If it was you and I when we were running this company, I would say, dude, we gotta invest because if we don’t have a poll position in this next platform, whatever it is, we’re done. We’re toast. And I think that’s why you’re seeing all these hyperscalers spending as much money as they are. ’cause they get this, they saw it. So, you know, you framed ai not necessarily as a a tech trade, but as a capital expenditure cycle. Can you explain that to people? Well, what we need to do is we need to build out the infrastructure of ai. Then, and that’s the phase that we’re in right now. So it’s more like we’re building out all of the railroads, the railway tracks and the railway stations across the United States back in the 18 hundreds. And then we’re gonna go through that building phase. And then as that building phase goes, some companies, some towns, are going to basically realize and recognize what’s happening and start to basically take ai. Bring it into their business model, into enhanced margins. Right. So right now we’re building it out. I mean, you know, we all focus on the hyperscalers, but the majority of companies, pardon me, governments. Individuals, they haven’t used AI and, and what is interesting about this is back in the nineties, they were talking about how the internet had to evolve to be much more. You know, uh, have critical thinking in, in, in it. And it was more explained when you went to these conferences, as you know, you know, think about this. You’re hearing this in 99, okay? Not today. You go in and you ask Google or dog pile at the same time, or excite, okay? You would say, I wanna go to Florida in the third week of March and I wanna stay here and I wanna spend this amount of money and I wanna rent a car. Plan it for me. And they would come back and they would tell you that it would come back and it would, it would, everything would be there. And you would have your over here and all you would have to do is drop your money and you had your thing planned. So none of this is as, it’s aspirational, but we’ve heard it before. And in technology, what happens is it’s not like it’s new. We’ve been talking to, I did machine learning in in graduate school. Ai, you know, I did neural networks and I’m a terrible Ian. This isn’t, you know, Claude Shannon wrote about this in 1937, right? But it’s about when does it hit, and so it was chat GBT. Can we argue, was that right? As an investor, it’s stop arguing, start investing. Then what you’ve gotta figure out, which is the question you ask, is when does the music stop? I think it goes until the end of the decade. You know, one of the things that, uh, is interesting about this, uh, AI investment, uh, it’s, it’s unfolding in a higher interest rate environment. Why is that detail so important? Understanding its significance? Well, it’s the cost of capital, right? And so this phase that we have right now. It’s funny you say that, right? ’cause our reference point is zero interest rates, right? Yeah, yeah. Right. That’s right. So, you know, you know, so, so think about this, what it happens right now. Now we’re in the phase where you’ve got these hyperscalers that instead of taking all their free cash flow and buying bonds and buying back stock, are increasing CapEx because there’s a great tax deduction on it. So you get a lot of, so we’re in this phase where, for where, where a lot of the money is, you know, was. Was, let me, let me be clear, was a hundred free cashflow. Now we’re getting these guys, these companies like Oracle and what have you, you know, starting to issue debt and look at debt isn’t bad as long as the rate of return on debt is higher than the interest rates. And so, you know, you know, I, I would say historically speaking, for a lot of these high quality names, the interest rates are not, uh, at levels that will stop them from investing. Right. Right. You know, you’ve written that, um, productivity is ultimately the real story behind ai. So why does productivity matter more than the technology headlines themselves? Well, let me just put it this way, right? So we’ve grown, I grew up, I, I joined, I’m up here in Toronto, right? So I’m gonna give it to you in Canadian dollars, right? So I joined, I joined here. You know, I grew up here, went to the states, came back home. Growing this company I joined when we’re about three and a half billion. We’re getting close to 50 billion, and we’re the fastest growing independent platform in the country. I’m a one man band, right? I use three ai. In the old days, I’d have four research assistants. Where’s the margin in that? And so I, that’s how I see it. And let me be clear, it’s, you know, this isn’t we’re, it’s not perfect. But if I wanted to say, instead of you, but hey, write me a 2000 word essay on the counterfactual of what happened with railroads up until 1894 when the, when the bubble popped, give me a f, you know, a a thousand word essay and, and just a general overview. I can get that in less than five minutes. Michael Sailor is writing product on ai, which, which, which you would take, which you would take. He’s in his presentation, say it would take a hundred lawyers. So it’s gonna be more about those. And it’s, it’s no different than Internet of things or, you know, it was, uh, Kasparov that talked about this. Gary Kasparov talking about the melding of, of technology in humans. He would ran, run this chess tournament called freestyle. You could use a computer, you could use, you know, grand Masters. You could use whatever you wanted to compete. And who won? Well, who won it Was that those teams that were generalists that had a little bit of that, the knowledge of the computer and the knowledge of the test. Uh, o of chess, right? That’s what’s gonna happen. So this isn’t we’re, as far as I’m concerned, we’re not, yes, there’s going to be some d some jobs that are going to be replaced, but that is always the case in technology. I’m not a Luddite, okay? I am not Luddite. But the same point in time. I, I would suggest to you that it, it is just a really, for me, it’s a, helps me. Do research no different than when I was an undergrad and they went from cue cards in the, the library at the university to actually having a dummy terminal and I could ask questions in queue. You know, it stalked me from having to go to the basement of the library and going to microfiche. Right. Have helping that way. Now can it, can, will it do other things? I’m sure it is, and I’ll lead that to Elon Musk and the crew. You know, that’s above my pay grade. But for me, I see it as a very helpful way of, you know, allowing me to process and delineate. Much more information a a and not have me waste so much time trying to figure out what got went on in the past or, you know, QMF. Right. You know, summarize me the talk five, you know, academic papers in this area, what are they saying? And then they gimme the papers. Right. It just speeds the process up. Yeah. You know, um, one of the things that I’ve been sort of talking about and thinking about. Is that it’s hard to not see AI as a very, very strong deflationary force. Um, how do you think about that? Yeah. Technology is deflationary, right? Doubt about it. And so I look at it this way, Ray. Um, so I work at the financial services industry, okay. You know, Mr. Diamond of JP Morgan is talking about how they are starting to embrace blockchain and ai. They are going to cut out the back end of that in the, the margins in that, in that company by the end of the cycle are going to be fantastic. People just do not get in. You know, the financial services industry is built on a platform. Of the 1960s, dude. I mean, they’re still running Fortran, cobalt. So you know what I, how I look at this is much more as a margin type story, and there’s going to be a lot of displacement. But at the same point in time, I look at Tesla and automation and ai. And you know, people look at Tesla as a car company. I look at Tesla as an advanced manufacturing company. Elon Musk could basically go into any industry and disrupt it if it wanted to. Right. So that’s how I look at it. And so, you know, the hard part is going to be, you know. Nothing. If we get back to where we were, it’s not going to be perfect, right? Because here’s, here’s where the counter is, here’s where the counter is. Right? If you, if, if you think about, and we’re, I’m gonna take Trump outta the equation and ent outta the equation right now, but if we just went back to the way things were before COVID, we would have strong deflationary forces. Okay. Just with demographics, just with excessive levels of debt. Just with, you know, pushing on a string in terms of, in terms we couldn’t get the growth up, you know, and, you know, and the overregulation of financial institutions. Trump and descent are basically applying what’s called supply side economics, and they’re deregulating. It’s says law, which is John Batiste, that says basically supply creates his own demand and it’s non-inflationary. But really what they’re going to try to do is they’re going to try to run the economy hot and they’re gonna try to pull this way out of the debt. And if you do that and you deregulate the banks. And allow the banks to get back to where they were before the financial crisis. Okay. You know, and, and the Fed takes its interest rates down to neutral, expands the balance sheet. Then I don’t think we’re gonna go back to the zero bound in deflation. I think this thing’s gonna run hot for a long time. And I think it, the real question is, is, is is 2 75 in the United States the neutral rate? I think it is. Uh, but as, as, as Scott be says, and, and, and, and, and let’s be clear, buck, the guy’s a superstar. Okay. Guy is a legend. Just you sit there, just shut up and listen to him. Okay. They keep up, right? Well, so they’re gonna run it hot, but where we are is, in his words, mine, not mine. We’re still in this detox period, you know what I mean? We still got the Biden era. We still got, you know, a over a decade of excessive ca of Central Bank intermediation. That needs to get, you know, go away. So what I say, and what I’ve been writing about is 26 is going to be the year that the baton is passed back to the private sector. Let’s get rates down to 2 75. That’s, I mean, I’m going off the New York Fed model. That says real fed funds, the real, the real neutral rate is 75 to 78 basis points. I think inflation’s at two. That that gets you 2 75. Get the rates there and then get the balance sheet of the Fed to the level so that overnight lending isn’t loose or tight. It’s just normal. And then step back, go away and let Wall Street and the private sector create credit. Create economic growth and let’s get back to the business cycle. And if we do that, we’re gonna have non-inflationary growth. It’s gonna be strong, but we’re not going back to the zero bound and we’re gonna grow our way out of this. And so that’s where I get really excited about. This is a very unique time in history. A very, very, very unique time in history where, and I don’t know how long it’s going to last because of the compression that we have now because of the, you know, we live in such a digital world, but let’s say it’s five years demographic says it’s to 33, 32 to 33. That’s, you know, that’s how long this run is. And, and to me, uh, AI is a massive play. I, I, to me, blockchain is a massive play and to me it’s to those countries and companies that get it is, whereas investors, we wanna think, start thinking about investing. Yeah. You mentioned, um, non non-inflationary growth. Can you drill down on that a little bit just so people understand a little bit where. Usually you think of an economy running super hot, you, you think automatically there’s an, you know, an inflationary growth. So I want you to think in your mind into your list as think in your mind. Go back to economics 1 0 1 with the demand curve. In the supply curve, okay? And there are an equilibrium. And at that equilibrium we have a price at an equilibrium, and we have an output as an equilibrium. Okay? Now what I want you to do is I want you to keep the demand curves stagnant or, or, or anchored. Then I want you to shift the supply curve out. Prices go down, output goes out. We can talk all this esoteric stuff, you know, you know Ronald Reagan and, and Robert Mandel and supply side economics. But it’s really your shift in the supply curve out, and that’s what, and that’s what BeIN’s doing. I mean, this is a w would just sit down and be quiet. He’s talking about, you know, what is deregulation? He’s pushing the supply provider. Oh, hold on. My phone. My, my thing. And what did, since the two thousands, what did, what was the policy? It was kingian, it was all focused on the demand curve. Everything was focused on demand. And so all we’re doing is we’re, we’re getting the keynesians out. I use 2000 ’cause that’s when Ben Bernanke really came in and was very influential. Let me just say he’s a very smart, I learned so much from reading. Smart, smart, smart, smart guy. But his whole thing was Kasan. He came from MIT, his thesis supervisor was Stanley Fisher, right? We’re going back to, you know, Mario Dragons thesis supervisors, Stanley Fisher, all these guys came from MIT, Larry, M-I-T-M-I-T, Yale, and Princeton. Whereas previously it was the University of Chicago. It was Milton Friedman. It was, it was supply side economics. We’re going back, they’re going back to supply side economics and right now we need it. We need balance. But my god, what did we end off with? We ended off with four years of mono modern monetary theory. Deficits matter. That’s insanity. You had mentioned a little bit, uh, you, you’ve talked about blockchain a few times here. Talk about the significance. I mean, it’s sort of, you know, blockchain was a thing that everybody was, everybody was talking about it, you know, three, four years ago, but now it’s all about ai. But you know, now you’ve got, um, but in, but in the background, blockchain has grown, uh, adoption has grown. Uh, tell us what’s going on there, and if you could tie it into the significance of, of where we’re at today. Yeah. Um, uh, Jeff Bezos gave a wonderful speech, I think in two thou, early two thousands, where he basically talked about the fact that, you know, once this innovation is led out of the genie’s, led out of the bottle, whether or not, you know, buck and Jim, like it as an investment, the innovation continues. And so after the internet bubble pop, right? Really smart guys like Jeff Bezos, uh, Zuckerberg, you, you, the whole cast of characters, right? Basically built it out. Okay. And it wasn’t perfect and everybody knew it wasn’t perfect. I mean, that was the whole thing that was so bizarre. But they knew it wasn’t perfect and they knew that they needed to solve some problems. Right. And you know, it was a double spend problem. I mean, the internet that we were dealing with right now was developed in the 1950s and so on and so forth. And so, you know, that always stuck with me. Right. A couple of things stuck with me because I’ve lived through a couple of these cycles. The first one is Buck. When the, when Wall Street coalesces around something just shut up and buy it, right? I mean, I, I spent too much of my life arguing about whether dog pile and Ask Gees was better than Google. Wall Street said Google was the best. Shut up. Invest, right? And so, so look, blockchain solved the double spend problem. Blockchain solved all the problems that the original iteration of the internet could solve, and everybody knew it was coming along okay. So it’s a decentral, it’s decentralized, right? Uh, does, does not need to be reconciled. So no. Not only do you have another iteration of the internet. You have basically introduced into society the biggest innovation in accounting or recordkeeping since double entry. Bookkeeping accounting was introduced in Florence, Italy centuries ago by the Medicis and, and buck. All this is out there like, so this is a profound, right? So think about you’re in an accounting department and you don’t have to reconcile, right? So look. The first use cakes was Bitcoin. And what was the, what was the beautiful thing about it? Well, first off, it grew up by itself. And secondly, it’s got perfect scarcity, right? And so let’s just full stop. And I mean, yes, gold and silver had the run that they should have had decades. So I had been waiting and listening to people, gold bugs, talking about this type of run since the nineties. Okay. Um, but look, you know, and the problem with fi money, right? I mean, this is, this goes back decades. It’s an old argument. The way you solve it is, is Bitcoin. That’s the solution. I mean, forget about it. I mean, if they’re gonna whip it around and do all this stuff, fine. But the other thing that people miss and Sailor hasn’t, and Sailor is brilliant, is look. Bitcoin is pristine collateral in 2008, in September. What caused the, the system to stop was the counter. We could not identify counterparty risk for near cash. It was a settlement problem. Anybody you talk to Buck that says it was, you know, the subprime this and it, yeah, that was crap. I get that. But when the system shut down is you had a $750 million near cash instrument with X, Y, Z, wall Street firm, and you did this for three extra beeps and it was no longer cash. Guess. And guess what? Your institutional money market fund broke the buck. That’s when the system blew sky high. When the money market broke the buck and it was a settlement problem, blockchain and Bitcoin solved that. Sailor knows that, look where Wall Street’s gonna go. They understand now that. Bitcoin is pristine, collateral and capital that is 100% transparent. Let’s lend against it, and that’s what Sadler’s doing. That’s why Wall Street hates the guy so much, right? Think about that. Think of where is he going after he’s going after all the stranded capital on Wall Street. And, and the whole point is he’s sitting there going, I’m too busy for this. And you’ve got all these other people that are gonna live off of other people’s ignorance. Meanwhile, Jing Diamond knows exactly what he’s talking about. We can identify, if I hear one more person on me in, in the meeting say, I don’t know. You know, you know, uh, micro strategies balance sheet is so complicated. Really. Compared to JP Morgans, I mean, you know what his capital is. It says Bitcoin, like, what are you guys talking about? But hey, fucking in this business, people make generational wealth on ignorance of people who think they know what they don’t know. So, you know, just going back to Jamie Diamond, you know, he spent, I don’t know how long. Throwing every insult, uh, he could towards Bitcoin. And now they’ve really kind of, they haven’t backtracked. I think he’s, he’s, you know, his, his, um, I think the way he phrases is the blockchain’s a real thing. He never seems to really say the word Bitcoin, uh, in this regard. Um, banks in general, where do you think they’re headed with this stuff? I mean, I, you know, right now, again, you can kind of see even. Um, I think, you know, some of the big advisory firms suddenly recommending one to, you know, one to 4% of people’s portfolios in Bitcoin. I mean, this is all, I mean, gosh, I, I’ve, you know, been talking about Bitcoin since 2017. This is in unbelievable transformation in less than a decade. Where do you see this going in the next five to 10 years? It’s called the, it’s called, what is it? It’s called, I’m gonna call it the Evolution of Jim. Me, you know, in my business and, and, and, and you know, the thing I have book is I’ve survived and I’ve gone through a lot of cycles. I’ve done a lot, you know, and you ask yourself, you scratch your head a lot and you’re, and you, but you’re continually doing objective research and you’re this, if you, this is why I love this game so much. Right? So let’s just go stop for a second. Let’s get some context. Right. My first summer job, one of my first summer jobs, I worked in the basement of a bank in the in, in downtown Toronto, right up the street from the Toronto Stock Exchange. And my job was to let guys in with beak, briefcases into the cage, into the big vault, to basically bring in certificates. Okay. And, and what? Stock certificates. And so remember, you know, and I remember my grandfather when we, when he died, look at, we couldn’t sell the house because he didn’t believe in the banks. And we were finding certificates all over the house in the walls. Okay? Right. So in the 1960s it was bare based. The whole industry was bare based. And there was the volume in Wall Street started to pick up to the point where they couldn’t handle the volume. There was a paper crisis where almost a third of the companies went down bankrupt because of the cage. The cage. Okay. So basically what happened was, to make a long story short, they came out with, they came, Hey, why don’t we get two computers At one point in time, they said, okay, crisis. Let’s solve it. Well, why don’t we get these two computers and we can solve, or we can sell trades among, amongst each other. Okay. And then we don’t need to have guys riding around Wall Street with bicycles and big briefcases. Okay. And then what we did was, what we did was we sat there and said, well, why don’t we have a centralized clearing, and we’re gonna call it DTC or CDS, depending on what country you’re in. And what we’re gonna do is we’re gonna offer paper, we’re gonna, we’re gonna issue paper rights to the underlying stock that was developed in the early 1970s. That’s the system that we’re on right now. There are a lot of faults with that. Let me give you, when you’ve talked about the GameStop a MC situation, when you have a company that’s basically have more shares outstanding short, sorry, more shares short than outstanding, that shows you that the old system doesn’t work. It’s called ation. The paper writes to the underlying assets, it, it doesn’t match up. There have been guys that make a career outta this and write books about this, right? Dole Pineapple. They had a corporate, a corporate event, right? Hostile takeover. 64,000 for 64 million shares, voted, I think, and there was only 3,200 on. We all know this, so this has to be solved. The way you solve it is you tokenize assets, and this was talked about a decade ago, and they know about it and true tofor, they, and if you’re thinking about it, it’s totally logical, right? But if we allow this innovation to go full stream ahead, we’re wiped out, right? So what did they do? They delayed. They delayed. And as you know, you could talk about, it’s called Operation choke 0.2 0.0. Right. You know, the Fed overreached their bounds, they de banked people. I mean, this is why, why Best it’s going after them. They, yet they stepped over their constitutional mandate. Right. The federal, the Fed Act is not, uh, does not supersede the US Constitution. Elizabeth warned the whole thing. They did it. Okay, so let’s not complain about it. So now Atkins is gonna, we’re gonna have the Clarity Act come out and they’re gonna basically deregulate New York Stock Exchange already there. They’re gonna put everything on the blockchain and when you put everything on the blockchain, trade a settlement. There’s no hypo. Immediate settlement. Immediate, which is a benefit if you can get your act together because it, you know, for Wall Street firms you need less capital, right? So it’s a natural evolutionary process. And then you sit there and go back in history, if you and I were writing it, we’d sit there and go, well, should we be surprised that the incumbents right, the status quo pushed back on innovation? No, there was a guy, there was a prophet, um. At, at Harvard, his name was Clay Christensen, and he wrote this wonderful book called The Innovator’s Dilemma. You know, why does, why don’t companies evolve, or why do they go bankrupt? It’s because they cease to evolve and the status quo doesn’t allow the evolution of the companies to take place. Right? Well, that’s what happened in RA. We’re gonna complain about it. No, it, it is what it is. It’s water under the bridge. And so what I think is happening is, you know, Mr. Diamond is basically saying. He’s pragmatic, he’s a realist. And now he’s saying, we gotta evolve. And hey, by the way, now I’ve gotten to the point where I think I can make a tunnel. Think about that. Yeah. Think about his own stable coins, right? So his own stable coins. And, uh, well think about this. If you trade like internal meetings, right? And I’m hyped this hypothetical, right? I go, fuck, don’t screw this up this time. And you’re gonna go, Jim, what are you talking about? I go. We want a nice bread between bid and ask in these financial price. We don’t wanna go down to pennies. Okay? Can we go back to the old days when we were, you know, trading in quarters and sixteenths and so we can make some skin in the game? I think you’ve got the deregulation of the banking industry where the banks are gonna, they’re fit. It’s gonna be baby steps. But what’s gonna happen is they’re gonna basically say, stop taking all that capital that’s sitting at the Fed, making four or fed funds rate overnights wherever it’s four half, 3 75 right now. And you can now trade it. Go back to prop trading, which is what they did. And they’re gonna start off, they will start off with, its only treasuries. Eventually they’ll be able to expand throughout our lifetime. So the old way you gotta look at it is, you know. We’re bringing the ba, you know, we’re putting the band back together, man. Right. And the banks are gonna deregulate, they’re gonna deregulate the banks, they’re going to innovate, they’re gonna be able to use the capital, their earnings profile going out into the end of the decade. It’s, it’s gonna be monstrous, it’s gonna be, you know, it, it’s, it’s, and, and that’s how I get, you know, when people say, where do you think the s and p goes? You know, I say, you know, 14,000, you know, double from here by the end of the decade. And he goes, well, what about ai? I go, well, they’re gonna, that’s important, but it’s the banks. I think the banks are gonna have a renaissance. Yeah. Yeah. Um, one thing just to get your thoughts on, so when you look at the banks, you talked about sort of the inevitability of tokenization. Um, the stock exchange, uh, we talked about stable coins. I mean, another great way for banks to make money. Uh, essentially where does that, how, how does that help or hurt Bitcoin adoption? Because Bitcoin is a sort of a separate, separate, you’re not, you’re not building on Bitcoin as much as you are, say, Ethereum, Mar Solana or, you know, some of the, some of the blockchain things. So, so is it just that. Is it just a, an adoption issue? Because you live in a, in a different world. You live in a world of blockchain and Bitcoin is, its currency. It’s weird, right? Because I, I’m writing this feed like, so Buck, where are you right now? Where, where, where are you located? I’m in Santa Barbara. You’re in California. So, yeah, so I’m in Toronto, right? Uh, you know, I lived in, worked in the States for, you know, a decade, a couple of decades, and I’m back home and it’s like, man, they don’t get it. Right, and, and, and, and what am I talking about? Well, well, this, this is the, the thing that you’ve gotta understand is this, right. Ethereum was invented by Vladi Butrin in this town, Joe Alozo, who’s the head of one of the largest Ethereum groups. Father is a dentist at Bathurst and Spadina. We’re up here and people are saying, oh, you know, president Trump don’t talk about being a 51st state. We act like a colony, duke. We are a, you know, we forget about calling us one. We are. So, look, it, look, there is no doubt in my mind that Ethereum is going to have a place and, and we’re going to use it. Seems like we’re going to use Ethereum and that’s the smart contract, you know? Um. And that’s fine. Um, you know, but going back in time. But, but remember, there’s not per, there’s not perfect scarcity there. So I like Ethereum, don’t get me wrong, but I look at Bitcoin and I look at the, I look at the scarcity, and I also look at the fact of, you know, what sa, what Sailor, if you sailor did a presentation in the middle of next year and all hell broke loose. What he did, and it’s, you know, and of course I’m hypothesizing. He basically went to New York and said, I am going to create fixed income products and I am going to give yields. On those products, and I’m coming after the stranded capital that sits on Wall Street that you guys have been ripping on for years. In the middle of last year, staler went public and declared war. Okay. Are we surprised that Jim Shane Oaks came out and everybody came out basically guns a blazing. Are we surprised? But what he, what Sailor did and put and slammed on the table is it’s pristine capital, it’s transparent capital. And what are you willing to pay for that? And now you GARP banks trading at. We have no idea what their capital structure really is. Honestly, we have an idea, but it’s very opaque, right? You know, the high quality names are trading at two, two to, you know, two times tangible book. You’ve got fintech’s companies trading at four to five times, right book, and you know, what’s Sailor doing right now? Diluting his stock so he can buy as much Bitcoin as he wants because he sees the next game. He says the hell with what you guys think the next game is going to be. Wall Street’s going to realize that Bitcoin is pristine capital and there’s only 21 million of it. What do you and, and what just happened today? What did Morgan Stanley just file a treasury company. So everything you and I are talking about, they know they’re smart guys, right? They’re real, they’re not. That’s, this is the whole point. They’re really, really, really smart. Okay. They see they’ve gone through the history. They know. Okay, so you’re sitting there, you get around the room, you say, so wait a minute. Wait. Whoa, sailor’s over here. And he’s basically saying he’s gonna give you a a pref that’s basically backed by Bitcoin charging 10%. And he’s going after our corporate clients. I mean, and what’s the pitch Buck? You’ve got a hundred million dollars. Okay, you got a hundred million dollars in the kitty. Okay, buck. What happens is you need $10 million a year for working capital, which is in cash, which means you’ve got $90 million sitting there idle. Hey, buck, I can give you 10% on that. You go to Jamie, he’s giving you two. What are you gonna do? Yeah. I think one of the issues right now is I the, the perceived risk profile of that. Right. Uh, you know. I tend to agree with you about the, uh, pristine nature of Bitcoin s collateral, but just in general, the perception. I don’t know that, that that’s. That’s the case. Well, you gotta go back to the fact that, do you think Bitcoin’s going to zero or not? No, of course not. Yeah. ‘ cause the Bitcoin doesn’t go to zero. There’s no, then, then that are, there’s Bitcoin could go to zero. There’s no, I mean, I don’t think, I mean, non-zero probability, of course, right? I don’t think it is. And if that has been, if it has been selected and now you have Wall Street coalescing it, I haven’t even mentioned the president of the United States or his family. Right. Uh, or the Commerce Secretary and his family, right? Or if you go to New York, wall Street, right, they’re all talking about it, right? So, I, I, you know, to me, I, I, the question about micro strategy, to me it’s not. That it’s a treasury company and it’s got a pile of Bitcoin. What does he do with it? Does he become a bank? Like why does it, this is me. I’m pitching him. Right. Hey, Mike, why don’t you just become a FinTech, say you’re like a FinTech company and you’ll get, and you, you’re gonna instantaneously trade it five to six times book. Why don’t you, why are you, you’re talking like you’re attacking them, but you’re still, you’re still a software company with a, with a big whack of Bitcoin that you are writing pres. Right? So, and, and so that’s, that’s how I look at it. I think the wave is too big. We are going to digitize. And the other thing that we didn’t really touch on with respect to AI and blockchain, and I’m gonna paraphrase the president. Right. Um, Mr. Trump is, look, um, it’s a matter of national security, duke, and when I hear that, I go back to the nineties in the eighties when I was in late eighties when I was an undergrad. Right. And it wasn’t China, it was Japan. And, and you know, what happened was, you know, it, it’s funny, Al Gore did deregulate so that. The internet could become for-profit. We all stood around and said, you know what the hell could, how do we make money on this? That’s, you know, what do we do? And then what did we do? We, we, we threw a ton of money at it and the United States controlled it. And what did we get out of it? We got out, we got, you know, all those companies. Right. The last thing I would say to you, and this is much more of a personal story, is I, when I was younger, I was in New York and it was 2000 and I was at the Grand Hyatt, and it was a tech, it was a tech conference and, uh, Larry Ellison Oracle was there and he gave a, he gave a, he gave a a, a fireside chat. Then, um, we go to a breakout room and, you know, in a break, I don’t know about if you’ve been to one, but you go to a breakout room, it’s a smaller room at the hotel, and you know, sometimes you got 25 people, sometimes you got 50 people, right. And, you know, I went to the, I went to the breakout with Mr. Allison ’cause of Oracle and I went in there and it was absolutely jammed and I was sweating and he just looked at us and he just ripped us. He AP Soly, just, I still have the scars today. I’m talking to you about it. Okay. He called it a bubble. He called it a bubble. He, he was early in calling it a bubble. I never forgot that. And then you sit there and see what he’s doing right now. Where he’s levering up the balance sheet. Now, to me, having survived in this game for such a long period of time, and I call it a game, it’s a game of strategy, whatever, you know, how does that not, you know, I would say to you, we were, your office was next to mine. Fuck. I remember New York, he’s loading the goose loaded in. He go in, he’s borrowing money from his grandmother. He’s, you know, what is going on. And he’s really stinking smart. You know, he’s, he, Larry Allenson just doesn’t do, and people, oh, he’s in, you know, he’s, no, he’s not, he’s, he’s like the mentor of all of these guys. You know what I mean? So there’s a, to me, there’s a discontinuity that these need to believe that we’re still early on because you know, what, if Larry’s, what do we take when Larry or Mr. Ellison is leveraging up to me, it’s profound because I’m anchoring off of my bias to the New York, the New York high at, at the Tech Co. I think it was, I think it was at Bear Stearn. I couldn’t remember Bear Stearns or Lehman. But you know, one of those I carry that experience on with the rest of my life. I do. It’s like, what is Larry thinking? Right? So he’s leveraging up buck. That’s all I know. He’s a priest or guy. Well, that’s probably a good place for us to stop, Jim, uh, chief, uh, market strategist at Wellington Elta Private Wealth. Thank you so much for joining me. Thanks so much and be safe. You make a lot of money but are still worried about retirement. Maybe you didn’t start earning until your thirties. Now you’re trying to catch up. Meanwhile, you’ve got a mortgage, a private school to pay for, and you feel like you’re getting further and further behind. Now, good news, if you need to catch up on retirement, check out a program put out by some of the oldest and most prestigious life insurance companies in the world. It’s called Wealth Accelerator, and it can help you amplify your returns quickly, protect your money from creditors, and provide financial protection to your family if something happens. The concepts here are used by some of the wealthiest families in the world, and there’s no reason why they can’t be used by you. Check it out for yourself by going to wealth formula banking.com. Welcome back to the show everyone. Hope you enjoyed it. Uh, and, uh, as I said before, do not ignore ai. This is something that you need to start using. Have your kids start using it. Uh, make sure that they, you know. They use it every day because this whole world is turning AI and it’s gonna happen. You know, it’s gonna happen in, in a blink of an, uh, blink of an eye. And the world is gonna change and there are gonna be real winners out there. And the winners are gonna be people who knew where there was, was going and kind of used it in their mind’s eye as they looked on navigating how. You know how to allocate their money. Anyway, that is it for me. This week on Wealth Formula Podcast. This is Buck JJoffrey signing off. If you wanna learn more, you can now get free access to our in-depth personal finance course featuring industry leaders like Tom Wheel Wright and Ken McElroy. Visit wealth formula roadmap.com.

Trump ways he wants to spend half a trillion more dollars on military spending, even as federal spending persists at Biden-Era levels and interest on the debt climbs ever upward. Original article: https://mises.org/mises-wire/trump-wants-500-billion-more-pentagon-deficits-mount

Trump ways he wants to spend half a trillion more dollars on military spending, even as federal spending persists at Biden-Era levels and interest on the debt climbs ever upward. Original article: https://mises.org/mises-wire/trump-wants-500-billion-more-pentagon-deficits-mount

As the long era of neoliberal certainty frays, Mark Blyth argues that we are drifting back toward a 19th century world of rival blocs, imperial habits and dangerous illusions. In this conversation, he traces how repeated “software crashes” of capitalism produced inflation, austerity, populism and now a return to industrial policy and great power confrontation. He connects deficits, demographics, migration, and housing with the lived reality of stagnant wages and rising prices. Along the way, he questions central bank mythology, challenges deficit obsession, and asks whether politics can adapt before events force a far harsher reset.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on LinkedIn.Follow Mark on Twitter.Episode TimeStamps: 00:00 - Cold open and warning on a return to 19th century style imperialism00:23 - Niels and Alan introduce Mark Blyth and set the macro context02:24 - From Scottish childhood to monetarism and the politics of macro ideas08:33 - Capitalism as hardware and software and the recurring crashes of each regime15:32 - The slow death of neoliberalism and the rise of populist reactions18:57 - Deficits, austerity, bond vigilantes and why the house is on fire anyway23:49 - Affordability, grocery prices, housing and the disconnect in elite dashboards29:02 - Generational conflict, asset concentration and the missing left...

283: UFC World Champion, mother and nutrition activist Miesha Tate is here to talk about what women actually need when it comes to food, strength, and recovery. We break down why calories in vs. calories out doesn't always work for women, how hormones completely change the nutrition conversation, and why nutrient density matters more than restriction. Miesha shares her journey in a male-dominated sport, how she rebuilt her health and performance after having kids, and what she's learned about food as fuel, and how to raise healthy kids in an unhealthy world.  Topics Discussed: → Is calories in vs. calories out the best framework for women's nutrition? → How should women eat differently than men for strength, hormones, and longevity? → What does eating nutrient-dense food do for performance and recovery? → How does Miesha use red light therapy and HBOT to improve recovery?  → How can moms rebuild strength, metabolism, and bone density after having kids? Sponsored By: → Function | Own your health for $365 a year. That's a dollar a day. Learn more and join using my link. Visit https://www.functionhealth.com/realfoodology and use gift code REALFOODOLOGY25 for a $25 credit toward your membership. → Our Place | Our Place is having their biggest sale of the year right now! Save up to 35% sitewide now through December 2nd. Head to https://www.fromourplace.com to see why more than a million people have made the switch to Our Place kitchenware. And with their 100-day risk-free trial, free shipping, and free returns, you can shop with total confidence. Shop the Our Place Black Friday Sale right now, no code needed. → Beekeepers Naturals | Today, Beekeeper's Naturals is giving my listeners an exclusive offer: Go to https://beekeepersnaturals.com/realfoodology or enter code REALFOODOLOGY to get 20% off your order. → Qualia | Take control of your cellular health today. Go to https://www.qualialife.com/realfoodology and save 15% to experience the science of feeling younger. → YAYA'S EVOO | YAYA'S is offering 15% off your order, and it even stacks on subscriptions. Go to https://www.yayasevoo.com/realfoodology. → Just Thrive | Get your health in check and save 20% on your first order at https://www.justthrivehealth.com/realfoodology. Timestamps:  → 00:00:00 - Introduction  → 00:05:15 - Making the Right Healthy Choices   → 00:10:20 - Miesha's MMA Roots   → 00:14:29 - First Fight  → 00:24:17 - Preventive Care: HBOT + Red Light  → 00:32:52 - Nutrient Density  → 00:39:53 - Women's Health, Calorie Deficits & Whole Foods  → 00:54:20 - Diet, Performance & Thyroid Health    → 01:01:52 - Protein Obsession in Athletes  → 01:13:11 - Reframing Nutrition + Raising Healthy Kids  Show Links: → Miesha Tate  → Built For Growth | Podcast   → “The Period Brain” by Dr. Sarah Hill  Check Out Miesha: → Instagram  → Facebook  Check Out Courtney:  →  LEAVE US A VOICE MESSAGE →  Check Out My new FREE Grocery Guide! →  @realfoodology →  www.realfoodology.com →  My Immune Supplement by 2x4 →  Air Dr Air Purifier →  AquaTru Water Filter →  EWG Tap Water Database Produced By: Drake Peterson

RUSSIA'S OIL CRISIS AND REGIONAL DEFICITS Colleague Michael Bernstam, Hoover Institution. Russiafaces a financial crisis as oil prices drop below $60 per barrel. Michael Bernstam explains that increased global supply forces Russia to sell at deep discounts to China and India, often below cost. This revenue loss prevents the Kremlinfrom paying soldiers, sparking severe regional budget deficits. NUMBER 141906 BAKU

In this session, we address a critical strategic error many patients make when undergoing spinal decompression treatments like IDD therapy. It is common for clinics to advise pausing rehabilitation exercises during the initial weeks of treatment. However, we argue that building spinal stability and strength should happen concurrently—or even beforehand—to protect the spine during the travel to and from the clinic. We discuss how to strategically schedule decompression sessions, ideally placing them after your heaviest workout days (like Phase 3 or Phase 4 squat sessions) to utilise the treatment as a recovery tool rather than a passive cure.We also dive deep into the metabolic requirements of healing a herniated disc or recovering from sciatica. A significant topic discussed is the use of creatine monohydrate; specifically, dispelling the marketing myths surrounding expensive "women-specific" supplements. We explain why standard creatine is essential not just for muscle growth, but for cognitive function and recovery. Furthermore, we warn against maintaining a steep calorie deficit during rehabilitation. Healing nerves and building tissue is an energy-expensive process, and insufficient nutrition can lead to increased delayed onset muscle soreness (DOMS) and stalled progress.Finally, we cover essential technique corrections for the squat and hip hinge to prevent neck pain, using the "pike" analogy to maintain a true neutral spine. We also tackle the misconception of "weak knees" in older adults, explaining why leg strengthening is the solution, and provide a guide on the absolute essentials for a home gym setup that allows for long-term progression without filling your house with equipment.

FF: Deficits DO Matter! We talk about holiday spending in the U.S. and Canada, which can add to the monthly deficit and overall debt for the consumer. Governments are continuously increases their debt and running deficits every year. While some may say that deficits don't matter or "in the long run, we'll all be dead," but the truth is that the only way to increase the monetary supply without inflation is to create enough value to account for the increase. That is not what is going on in the world today. The government deficit is added to GDP, but the government isn't actually producing anything, so the calculation for GDP is seriously flawed. The greatest trick the Fed ever did was to convince the world that 2% inflation was good. It just makes it take more currency to get the goods and services you need and steals your purchasing power. We talk about how you can plan ahead to make your world a better place! Sponsors: American Gold Exchange Our dealer for precious metals & the exclusive dealer of Real Power Family silver rounds (which we finally got in!!!). Get your first, or next bullion order from American Gold Exchange like we do. Tell them the Real Power Family sent you! Click on this link to get a FREE Starters Guide. Or Click Here to order our new Real Power Family silver rounds. 1 Troy Oz 99.99% Fine Silver Abolish Property Taxes in Ohio: www.AxOHTax.com  Get more information about abolishing all property taxes in Ohio. Our Links: www.RealPowerFamily.com Info@ClearSkyTrainer.com 833-Be-Do-Have (833-233-6428)

Join Jim and Greg for the Thursday 3 Martini Lunch as they break down President Trump rolling back Joe Biden's fuel-economy mandates on automakers, a stunning new report on widespread Obamacare fraud, and Gov. Gavin Newsom's push to tax former California residents to plug his state's massive budget deficit.First, they applaud President Trump for scrapping the Biden administration's burdensome fuel-economy standards. The move will likely lower costs and will almost certainly save lives. Jim and Greg unload on Democrats who want to limit our choices on the vehicles we drive and in other areas of life.Next, they groan as a Government Accountability Office (GAO) report shows that the government accepted 100 percent of fraudulent Obamacare exchange applications that the GAO submitted as part of its investigation. In addition, the actual Obamacare fraud happening in the system is costing taxpayers billions of dollars and much of it happens when applicants use the Social Security numbers of dead people.Finally, they laugh as California Gov. Gavin Newsom attempts to fix his state's budget disaster by taxing people who have already moved away. Jim turns to a classic song to underscore how absurd the idea is, and he hopes someone sues the state if lawmakers actually pass the plan.Please visit our great sponsors:Give your liver the support it deserves with Dose Daily.  Save 35% on your first month when you subscribe at https://DoseDaily.co/3ML or enter code 3ML at checkout.  For a limited time, try OneSkin for 15% off with code 3ML at https://OneSkin.co/3ML — please support our show and mention we sent you!New episodes every weekday. 

LISTEN and SUBSCRIBE on:Apple Podcasts: https://podcasts.apple.com/us/podcast/watchdog-on-wall-street-with-chris-markowski/id570687608 Spotify: https://open.spotify.com/show/2PtgPvJvqc2gkpGIkNMR5i WATCH and SUBSCRIBE on:https://www.youtube.com/@WatchdogOnWallstreet/featured  Tariffs bringing in “hundreds of billions” sounds impressive—until you compare it to trillion-dollar interest payments and the size of the modern federal government. This episode calls out the magical thinking behind claims that income taxes can be eliminated, and explains why comparing today's America to the pre-income-tax era is economic nonsense.

Calorie deficits can feel confusing, triggering, or downright exhausting—especially when you're trying to honor God with both your body and your mindset. In this episode, we explore a Christian, grace-filled approach to calorie deficits that removes the fear, pressure, and perfectionism. You'll walk away with clarity, peace, and practical ways to support your body without slipping back into diet culture. Get your show notes: https://gracefilledplate.com/christian-approach-to-calorie-deficits/ Links mentioned: Get your Overcoming Weight Loss Idols For a deep dive, check out Grace Filled Plate Platinum and be sure to get on the waiting list You may also love: Let's Talk, God! About Body Image Season 1 Episode 2: Ditching the Diet Mindset Season 2 Episode 21: The Keto Diet: Is It Biblical? Season 3 Episode 6: How to Align Your Weight Loss Goals and Values Season 4 Episode 2: 3 Inspiring Tips for When You Feel Weight Loss Discouragement Get a FREEBIE: Get your FREE Faith [is greater than] Food Jumpstart

Dr. Gregg Day and Professor Jonathan Rohrer discuss the significance of studying individuals at risk of developing genetic frontotemporal dementia, focusing on how early cognitive changes before symptoms appear can inform research and future therapeutic trials.  Show citation: Russell LL, Bouzigues A, Convery RS, et al. Executive Function Deficits in Genetic Frontotemporal Dementia: Results From the GENFI Study. Neurol Genet. 2025;11(4):e200248. Published 2025 Jul 21. doi:10.1212/NXG.0000000000200248 

After losing all his profits accumulated over three years to a mere investment mistake, Jeremy Allen's confidence took a huge blow. However, after learning from his mistakes and picking himself back up, Allen bounced back more knowledgeable than ever and started his own consulting business.Listen to this episode of Property Investory to find out how Jeremy Allen was able to regain his confidence after losing $470 000, his new and effective rules to determining a worthy investment property, and the lessons he has learned so far on his property journey. Hosted on Acast. See acast.com/privacy for more information.

After losing all his profits accumulated over three years to a mere investment mistake, Jeremy Allen's confidence took a huge blow. However, after learning from his mistakes and picking himself back up, Allen bounced back more knowledgeable than ever and started his own consulting business.Listen to this episode of Property Investory to find out how Jeremy Allen was able to regain his confidence after losing $470 000, his new and effective rules to determining a worthy investment property, and the lessons he has learned so far on his property journey. Hosted on Acast. See acast.com/privacy for more information.

Today's podcast is about Europe's exploding deficits. Growth is weak, fiscal positions are fragile, and we are spending a lot more money on defence and Ukraine, all funded through debt.

Dr. Gregg Day talks with Professor Jonathan Rohrer about the significance of studying individuals at risk of developing genetic frontotemporal dementia, focusing on how early cognitive changes before symptoms appear can inform research and future therapeutic trials.  Read the related article in Neurology®Genetics. Disclosures can be found at Neurology.org.    

This episode explores the shift from the “attention economy” to the emerging “trust economy,” why we're all overwhelmed, and how creators can stand out in an era of AI-generated content. Meredith's Husband breaks down practical ways website owners can build trust, create pattern-breaking content, and avoid blending in with generic AI blogs.Timestamps[0:00] Introduction[0:24] The rise of social media and attention as currency[1:33] Spending 110% of our attention[2:28] ADHD-like overwhelm in modern life[3:27] Phones and constant content access[4:27] AI's coming explosion in content creation[4:51] Oversaturation and the end of the attention economy[5:11] The trust recession[6:07] Trust as the new currency[6:54] How to create content AI cannot replicate CONTACTLeave Feedback or Request Topics:https://forms.gle/bqxbwDWBySoiUYxL7 ---

Dr. Robert Murphy explains why America's chronic trade deficits trace to Nixon's 1971 gold exit—not China—and how a popular reading of Triffin's “dilemma” confuses the issue.Sponsored by Dan Johnson and Randee Laskewitz.Recorded at the Mises Supporters Summit in Delray Beach, Florida, on October 17, 2025.

Safety Amid Chaos (1)  (audio) David Eells – 11/16/25  Note: I realize we are in a good time of restoration of the government, and moneys the D.S. stole from the people, and the destruction of human trafficking, and sacrificing the children. Thank our God for these things! What I am going to speak of is a darker time to come that will bring revival… David   Man-child and Chaos Birthed Julie Trommeter - 02/26/2011 (David's notes in red) In my dream, I was pregnant. I have never been pregnant in real life, but in the dream, I could just feel the life inside of me. (The life of Christ growing in the woman of Revelation 12 by the Word and Spirit) There was a group of people around me, and I could sense that they were not happy about me being pregnant and didn't want the baby to arrive. (These may be a church family or other Christians who resent your relationship with God because they have little discernment.) I left the area where these people were and I seemed to be wandering around a city. (She came out from among them and searched for the beloved as in Song of Soloman.) Massive chaos broke out. (As we are entering a time of great confusion.) There were people running and screaming and I could hear sirens going off all around. (There are multiple “sirens” of warnings going off all around us: in the nations, the economy, the heavens, the earth.) Just as the chaos broke out, I went into labor. (At or near the time of tribulation, it will likely begin with a breakdown of law and order around us. It is at that time that the man-child of a mature ministry of Jesus Christ will begin to come forth, as from “a woman in travail”.) I tried to get the attention of a fire truck that was about half a block down the road, but with all that was going on, no one seemed to notice me. (There was no relief among men from the firey judgments but God was providing an answer if men would receive Him.) A baby boy was born, feet first. (Ready to walk the walk.) He was tiny at first, but each time I looked down at him, he had grown. In a matter of seconds, he would grow in what a baby should normally grow in weeks and months. (The mature manifestation of Jesus Christ in the Man-child corporate body of reformers. (Rev 12:1)  And a great sign was seen in heaven: a woman arrayed with the sun, and the moon under her feet, and upon her head a crown of twelve stars; 2  and she was with child; and she crieth out, travailing in birth, and in pain to be delivered. 3  And there was seen another sign in heaven: and behold, a great red dragon, having seven heads and ten horns, and upon his heads seven diadems. 4  And his tail draweth the third part of the stars of heaven, and did cast them to the earth: and the dragon standeth before the woman that is about to be delivered, that when she is delivered he may devour her child. 5  And she was delivered of a son, a man child, who is to rule all the nations with a rod of iron: and her child was caught up unto God, and unto his throne. 6  And the woman fled into the wilderness, where she hath a place prepared of God, that there they may nourish her a thousand two hundred and threescore days.) End of dream. I was meditating on what was signified in the dream by the baby being born feet first, and I think this is what the Lord is showing me: In Daniel, the feet of the statue represented the last beast kingdom of this age. I think the feet being born first symbolize that this is a generation of mature saints to oppose this beast.These are those described in Psalm 110. Psa.110:3 Thy people offer themselves willingly In the day of thy power, in holy array: Out of the womb of the morning (morning of the third day) Thou hast the dew of thy youth. In my bible, there is a note that says “power” could be translated as an army, and that “in holy array” could be translated as the beauty of holiness. WOW, how awesome! The generation of saints who are the feet of His body, who crush Satan, are about to be born! Psa.110:1 A Psalm of David. Jehovah saith unto my Lord, Sit thou at my right hand, Until I make thine enemies thy footstool. 1Co.15:25 For he must reign, till he hath put all his enemies under his feet. Heb.10:12 but he, when he had offered one sacrifice for sins for ever, sat down on the right hand of God; Heb.10:13 henceforth expecting till his enemies be made the footstool of his feet. Rom.16:20 And the God of peace shall bruise Satan under your feet shortly. The grace of our Lord Jesus Christ be with you. In Revelation, Jesus' feet are described like this: Rev.1:15 and his feet like unto burnished brass, as if it had been refined in a furnace; and his voice as the voice of many waters. They've been refined by the fiery trials of tribulation. Second dream I was on what looked like I-70, which runs east and west through the mountains in Colorado. (Its beautiful like the temporary reprieve we will see with GESARA. This speaks of those walking in the “straight and narrow” highway-road of the scriptures that is along the “river of life” who will be able to direct others to the true path.) The highway runs along the Colorado River, and there are steep mountain walls on either side. The shoulder of the highway was wider than in real life. There were lots of people walking on the shoulder. (Many people walk on the edge in the “wide” part of the shoulder, not on the highway of holiness. This is not where the road of Truth and obedience is, which bears fruit.) I was trying to warn them about the judgment coming, but I was just mocked. (In other words, they didn't understand that there is safety on the highway of holiness. They are blind and deaf to the signs around us that judgment is already beginning.) Suddenly, the river started to rise, and rain began to pour down. (“Suddenly” the judments of the word of God increase from God above and are evident in the rapid increase of earthly events, such as sudden judgments.) The mountains rumbled and debris was flying. Panic and chaos broke out as there was nowhere to hide. (Governments at every level are shaking. Deficits, downsizing, cutbacks on government services, demonstrations, resistance to authority, and strife are coming and have already begun. As people realize their life savings, real estate, jobs, security, retirement, etc., are crumbling away, panic, disorder, and chaos result, just as we are seeing in the news everywhere. Many counting on GESARA will ultimately meet the book of revelation that they did not believe in.) Cars began to get carried away by the rising flood. (People, families getting carried away in fear.) I heard someone yell, “She was right!” A large boulder fell in front of me. (It is the Rock of the unchanging Word  coming down from above.) I began climbing up the boulder as the rain drenched me. (Climbing up the boulder is symbolic of taking refuge in Jesus Christ by believing His Word and doing what He says.) Once on top of the boulder, I knew the flood waters could not reach me, and I yelled, “For the law of the Spirit of life in Christ Jesus hath made me free from the law of sin and death!” (The flood waters are sin and judgment, but Christ has made you free and has delivered and saved you. PRAISE the LORD.)   Saved from Flood, Electrical Loss & Chaos G. C. - 01/17/2011 (David's notes in red) There was a great flood coming, sweeping the land. It did not come from the sky but came roaring through the terrain like a ferocious river from a source beyond my vision. It seemed there were two waves -- the second was greater than the first. When the second came, it destroyed everything, and water covered the land. (This could have both physical and spiritual meanings: A flood of destruction has and will come. The destructive leftist, anarchist, satanist, communist, Islamicist, and government beast attacks on our country. Vax, weather warfare, economic warfare, chemtrail poisoning of food, water and people. We are enduring a covert civil war against humanity. And coming overt civil war with man-made earthquakes, floods to steal more lands for the minerals, etc.) As I saw the wall of water rushing toward me, I turned around and saw two Eiffel Towers in the distance. I ran to the one on the right; it seemed bigger and stronger. I climbed up it and was saved from the water below. (There were two towers in one chapter -- Judges 9. One was weaker, symbolizing the modern tower of Babel, and fell to the beast, symbolized by antichrist Abimelech and his factious followers in verses 46-49. These are the goats on the left. The sheep tower on the right was “stronger”. It was named Thebez, which means “whiteness”, symbolizing Zion and holiness. It withstood the beast, and he died attempting to assault it in verses 50-55. I suppose the wider view that could be applicable in this dream is that the tower of religious cultic Babel, was not a safe place, while the tower of the flock, Zion, was, as in Micah 4.) After this scene, somehow I found myself back at my house, which is set high on a hill, safe from the water. (The house of God on the hill of Zion is the spiritual refuge worldwide. Psalms chapters 15, 24, and 125 all reveal the righteousness, faith and safety of those who make up spiritual, New Testament Zion. Isaiah 60 speaks of the restoration and blessing of Zion and its people. No violence or unrighteousness in her in verses 18 and 21. In Zephaniah 3:11-14, God will separate all the wicked from spiritual Zion only. In 2 Kings 19:30-37, Zion was the only safe place from the beast outside, not necessarily meaning a war, but certainly chaos and lawlessness.) Many people started coming into my house; they were stranded travelers, and although I had no electricity or heat, I had a lot of food and a warm fire to offer them. (Stranded travelers could well happen when electricity is down, and gasoline pumps don't work. Or they have shut down the gas and diesel pipelines coming from the southern refineries by earthquakes or sabotage, which has happened before. In the physical, not having electricity and electric heat could well happen again. A quake could destroy dams where there are hydroelectric and nuclear power plants over faults where the rivers are needed for coolant or to drive generators. Many rivers are created by faults. Interestingly, many have been getting prepared for wood heat, chickens for eggs and poultry, gardens for fruit and vegetables, and miracles to multiply them. These criminals love to destroy this independence to make slaves of the people. Loss of electricity would cause chaos in society, with homes, government, law enforcement, hospitals, businesses, etc., all now out of action. Everyone would be out of work -- a recipe for lawlessness and a time for needed safety.) I walked out of the house, down to the bottom of the hill, and there I ran into a small band of militia; they were on patrol and would not allow me to pass. They seemed self-appointed. (Chaos and anarchy could very well be caused by the powers that be, causing militia's to spring into action. In this case evil militias could be out to plunder and FEMA has done the same thing.) I did not trust them and knew they were on the lookout for valuables they could snatch. I walked back up the hill to my house, and I knew that we were kind of stuck here in the house, but we had plenty, so it wasn't too much of a concern. (This sequence of events could lead to the Civil War we have seen in dreams and revelations. The strong tower and hill represents Zion and its refuge. One brother saw that outside of this area, the military was rounding people up to destroy them for the satanist overlords. The bottom of the hill represents being outside the refuge of Zion. “Stuck in the house” means it is a refuge from the chaos and the wicked and possible war.)   01/19/2011 I was inside a building that had both a bank and a restaurant. The bank was on the left and the restaurant was on the right; they were divided by a wall. (The bank represents provision, and finances. “My God shall supply your every need according to His riches in glory.” The restaurant represents the spiritual food of the Word, which also supplies your every need. UBM has been seen as a spiritual restaurant as in the Restaurant at the Top of the Hill revelation.) I was sitting in the back of the restaurant. I saw a girl in her mid-20s walk up to the counter and order some food. She was wearing a white outfit and a white tie. I asked her what she was doing wearing that, and she said it was her work outfit; she was a waitress at another restaurant. She had colored strands in her hair and her hair was long. I asked her again about her tie, and she said it was for work. (I feel this girl is the bride. She was dressed in white, and she was a waitress who serves others. Her hair had multi-colored strands like a rainbow, like Joseph's coat of many colors.) (The different colors in her hair represent the color bands or different attributes of light, which is Jesus. Her hair is long because she is in submission as in 1 Corinthians 11) to the bands of light. She is the bride coming to our spiritual restaurant to feed and going forth to serve in other spiritual restaurants. But what about the restaurants that don't feed truth or have the light?) After this, we went to my truck and watched the place; then all of a sudden, the bank's power (God's provision) went out and that caused the restaurant's power to go out as well. The bank's sign was totally black and every light inside the building went out. The restaurant's power went out but there were a few lights on inside, maybe from emergency lights. But it was really dark inside, too. We waited and watched, but the power never came back on. (God's anointing and power will depart from the apostate teachings. The spiritual restaurant will have emergency power.) The main power source came from the bank; it powered both units. Once the bank went black, the restaurant soon followed. The restaurant seemed to be still operating but only at half-power. ( G. C.'s local UBM fellowship, as a spiritual restaurant serving spiritual food, will have emergency lights. I am glad we will have our own power source when the worldly grid of man at its source goes down. :o)   Gold and Silver Woes? Gold Burning Gideon Smith - 11/13/2010 (David's notes in red) In this dream, my wife and I were walking outside on a bright and sunny day. Then I looked in the air and saw a very large, grey U.S. military transport aircraft. I then noticed that its flying maneuvers were very strange. It appeared to be zipping around, doing front and back flips and other odd movements that should be impossible for a plane that size to perform. (Planes are like ministries; their purpose is to help us overcome the world and reach heavenly places in Christ.) Then my eyes seemed to be able to zoom in on the plane, and I noticed it was not the kind of plane I thought it was from far away. It actually did not look like any plane I've ever seen before. (On close inspection, it is not a normal economy; nothing we have ever seen before.) Then, as my eyes zoomed out, it appeared to be the same large U.S. military transport plane. (Very large ministries on close inspection show severe scriptural flaws.) Then, as it was going in its circular motion, (They go in circles instead of up.) it began to move faster and faster, and then it began to descend very fast toward the ground and it crashed, and when it hit the ground, there was a gigantic explosion. I mean, it was huge and a very large plume of fire rose to the sky and there was great fear. When I saw the explosion, I thought to myself, Wow, this happened sooner than I expected. (Think back at how many huge ministries have crashed like the Sanhedrin.) Then I began to run from this large flame that began to erupt from the explosion. As I ran, I saw a vision of an image of this woman's head, which looked like it was made of gold and her face and head were burning with flames. (The harlot was burned with the fire of the end time beast like the one of Jesus' day.) Then, as I saw the vision, I understood it to be the Statue of Liberty. (God gave liberty and value to the U.S. when we were considered a Christian country. But every religious lie is taking away that liberty and the beast here is taking her down.) Also, America's economy will ultimately fall very destructively even though NESARA will give it a shot in the arm. Even gold will be useless. In the last depression, there was a four-day bank holiday, during which they made a law so they could grab the gold. It became useless to individuals or corporations. The book of Revelation is coming with its times of trouble and chaos. It will not be a thousand years of peace and prosperity because sin is here that must be judged.) After seeing this, I began to pray in the spirit, at which point I came out of that vision. Then I opened my eyes and found myself sitting inside a movie theater, praying loud in the spirit and everyone was looking at me like I was crazy, as if nothing happened. (Movie theaters, like many ministries, are for play-acting or fakery. It cannot be trusted and neither can the prosperity thieves who run it.) They did not see what I saw; they were getting ready to watch a movie. Then I woke up. We've been told many times by the Alliance that we're watching a movie with masked actors and clones.   Abide in the Word, Safe from the Destroyer Jenny from MN - 07/31/2009 (David's notes in red) There was an apartment building with a lot of different rooms or apartments. (This represents the Church, which, according to Ephesians 2:19-22, is many houses built together into one Temple for God. Each individual house represents a person.) My mother and I each had an apartment next door to each other. A man walked down the hall and was knocking at the doors and telling the people he was a locksmith so they would open their door. When people opened their door he would kill them. (In the Passover in Exodus 12, when the blood was on the doorposts, God warned the people not to open their door or go out, or the destroyer would be able to kill them. The blood represents their faith in the sacrifice of the Lamb who was slain, which was between them and the destroying angel. The destroyer represents Satan's administration of the curse, which the Lamb bore upon Himself, if we would abide in Him through faith. (1 Cor.5:7) ... For our Passover also hath been sacrificed, [even] Christ.) My mother opened her door to this man, and he then killed her. She wasn't really dead, but I read it in the newspaper, and so that's how I knew. Because I knew this man was a deceiver and not really a locksmith, I didn't open the door. When I thought he was gone, I went out into the hall, but then I saw him, and he killed me. (I do remember that my mom and I were able to come back to life.) (Because through the knowledge of God, they came out from among them.) He was waiting for people to open their doors so he could kill them. They would open up because they trusted him. I somehow knew that his weapons were words, sounds, and actions. That is how he killed people. (2Ti 3:6) For of these are they that creep into houses, and take captive silly women (religious sects) laden with sins, led away by divers lusts, 7 ever learning, and never able to come to the knowledge of the truth.  I remembered the scripture how the enemy comes to steal, kill and destroy, so it made sense to me who this man was. (If we do not abide in the house, like in the Passover, Who is Jesus, the Word of God, we are under the legal authority of the curse. Satan comes with his “words, sounds and actions” of our thoughts or those around us to talk us out of the Word of Jesus. If we walk by our external senses, instead of by faith in the true Word, Satan has a legal right to destroy us, as Jesus said. (Rev.22:18) I testify unto every man that heareth the words of the prophecy of this book, if any man shall add unto them, God shall add unto him the plagues which are written in this book: 19 and if any man shall take away from the words of the book of this prophecy, God shall take away his part from the tree of life, and out of the holy city, which are written in this book. It was God Who had the destroyer on a leash and said He would not permit the destroyer to come into the faithful's houses. The destroyer really isn't a locksmith because he cannot open our doors; we have to let him in. As with Jenny and her mom, who represent the church, we are able to come back to life if we return to abiding in the Word. Jesus likened Himself to one who was grieved because He was like a hen seeking to gather His chicks under His wings, but they would not come. Psalm 91:1,4 says if we abide in the secret place of the Most High, we will be under the shadow and wings of the Almighty. The promises of the Word in the midst of our trials are our refuge. (Heb.10:23) let us hold fast the confession of our hope that it waver not; for he is faithful that promised. According to the promises of the Word, you were saved, healed, and delivered from all of the curse, including your enemies. Hold fast to this and speak it before men.)   Restaurant at the Top of the Hill Anonymous (David's notes in red) I had a dream really early in the morning on Father's Day. The Father doesn't forget His spiritual fathers. I dreamed that there were 3 beautiful pieces of land high up on a hill. The views were breathtaking. The properties were huge. The land was lush and green. There was a debate going on in the community about who was the rightful owner of the property at the very top of the hill. It was the best, most beautiful, and largest of all 3 properties. After much fighting among the community, the courts ruled that David was the rightful owner of that highly coveted property. He was not in the fight for the property, but when the courts gave the ruling, he did not seem surprised. (An amazing proof of this came in the natural long after this revelation. I was given the property on the very top of the tallest hill in the whole area. And Eve who wasn't thinking of all of this prophesied that this was God's house and property. The land represents our physical life and our ministry, which God is preparing on his hill of spiritual Zion to serve others. (Heb.6:7) For the land which hath drunk the rain (Holy Spirit and Word) that cometh oft upon it, and bringeth forth herbs (fruit) meet for them for whose sake it is also tilled, receiveth blessing from God: (8) but if it beareth thorns and thistles (bad fruit), it is rejected and nigh unto a curse; whose end is to be burned. (Mal.3:11) And I will rebuke the devourer for your sakes, and he shall not destroy the fruits of your ground; neither shall your vine cast its fruit before the time in the field, saith Jehovah of hosts. (12) And all nations shall call you happy; for ye shall be a delightsome land, saith Jehovah of hosts. (1 Cor.3:9) For we are God's fellow-workers: ye are God's husbandry (Greek: tilled land), God's building. Everybody thought you were going to build a large, beautiful home for you and your family up there. But to everybody's shock, you built a restaurant. People were scoffing at you, thinking you were stupid for not building a beautiful home for yourself. A restaurant represents a place to spiritually feed many of God's people. Sadly, the multitudes here have not discerned that many leaders are fleecing the sheep to build their own house rather than feeding the sheep to build God's house. (Eze.34:2) Son of man, prophesy against the shepherds of Israel, prophesy, and say unto them, even to the shepherds, Thus saith the Lord Jehovah: Woe unto the shepherds of Israel that do feed themselves! should not the shepherds feed the sheep? (3) Ye eat the fat, and ye clothe you with the wool, ye kill the fatlings; but ye feed not the sheep. (Hag.1:4) Is it a time for you yourselves to dwell in your ceiled houses, while this house lieth waste? ... (8) Go up to the mountain, and bring wood, and build the house; and I will take pleasure in it, and I will be glorified, saith Jehovah. (9) Ye looked for much, and, lo, it came to little; and when ye brought it home, I did blow upon it. Why? saith Jehovah of hosts. Because of my house that lieth waste, while ye run every man to his own house. (10) Therefore for your sake the heavens withhold the dew, and the earth withholdeth its fruit. When my family and I heard that you built a restaurant, we hurried up the hill to see your restaurant and enjoy a nice meal there. We were all excited. We sat down at a table with a view and waited for the waiter to come. When the waiter came to our table, we realized that you were our waiter. We asked you why you didn't hire a waiter so you wouldn't have to be the waiter, and you simply said you wanted to do it yourself. All the better, we thought. We wanted to see you, but thought that we most likely wouldn't be able to because you would be too busy. We were so happy to be able to talk to you. It is very nice to be able to have personal fellowship with God's beloved people. I have always hated the elitist attitude of the Nicolaitan ministers. Jesus said, “He that is greatest among you shall be your servant” and “all ye are brethren”. We placed our order with you and were waiting for our meal. We began to notice there were a lot of people coming to your restaurant, but they weren't staying. They were leaving upset. When we asked you why they were leaving, you told us that they were upset because you were their waiter. They thought you should have hired a waiter and were offended that you didn't. My family and I thought, “What's the big deal? It's even better that you are our waiter. Why be so offended?” You brought us our meal. It was delicious. The view was gorgeous, and we had a wonderful time talking with you. We loved your restaurant and knew we would be back many times. The whole time we were there, however, many people came and left offended. (the factious) We knew they were missing out, but we couldn't convince them to stay. Then I woke up. Some don't like the waiter, and some don't like the meal. As it was with Jesus, the true ministers and their teaching cannot be popular with those who claim to be God's people while they love the world. (Joh.15:18) If the world hateth you, ye know that it hath hated me before [it hated] you. (19) If ye were of the world, the world would love its own: but because ye are not of the world, but I chose you out of the world, therefore the world hateth you. (20) Remember the word that I said unto you, A servant is not greater than his lord. If they persecuted me, they will also persecute you; if they kept my word, they will keep yours also. (21) But all these things will they do unto you for my name's sake, because they know not him that sent me. You certainly are feeding me and my family right now, and we all want to be at the top of the 3 properties, right alongside the man-child and the bride. We are eating the bread of life and drinking the fountain of living waters. Thank you for serving us and feeding us. Blessings on you in Jesus' name. We will run out of time to bring in the harvest when no more will listen and then the day of the Lord's wrath will come.   Chaos and Woe Messianic Pastor Caleb Kinley (David's notes in red) Shabbat Shalom! May YHWH (The true name of the Lord before men added the vowels so the flesh could speak it as Jehovah and Yahweh.) truly bless you this Shabbat and may He wrap His arms of love around you and embrace each of you into His glory. I have included a dream I had several times about a week or so ago. I'm not a prophet, and this is only a dream, but usually, at least parts (if not all) of some of my dreams do come true. For example, two weeks before Sept. 11th I did dream of the exact events, verified by my mother and my wife. About three days before the December 26, 2004, tsunami that hit Indonesia, I dreamed the tsunami would happen, and it came true, verified by my mother, my wife, and my congregational members as I shared the tsunami dream with my congregation. Again, I am not a prophet and I pray this does not alter anyone's opinion of me... :-) I'm too afraid to not share this dream and can only hope and pray this one does not transpire... anyway... (But it will as the Day of the Lord's wrath. These were terrifying to me, to say the least. The dream began with a loud voice saying, “Thus saith Elohim, the wicked have witnessed ‘chaos' and still they refuse to repent. ‘Chaos times Chaos, times Chaos!' They ignore My call and refuse to gather under My wings. ‘Chaos times Chaos, times Chaos!' They are busy bodies with idle hands, putty for evil, and they send a rancid stench to My nostrils. O miserable wretches, they have become. They worship the sun and everything that is under the sun, but Me. They worship man, but not Me. They worship lust, but not Me. They worship envy and covetousness, but not Me. They worship power, money and fame, but not Me. They worship science and nature, but not Me. They bow down to pleasure for a season, and I will cut them off from among My people. Therefore, ‘Chaos times Chaos, times Chaos!' will be their just reward.” “Watch and see O servant, watch and see the meaning of ‘Chaos times Chaos, times Chaos!' O servant, take and eat of this parchment, and your tears will be for visions and your tongue shall prophesy forth My words. Few will hear you speak of My words, and fewer will come forth and share the mantle of My blessings. Many will not believe and will continue in their sin, and make great hate of you and the rest of My servants. The infidels will despise My people and bear false witness to try and remove the virtue from My bride. But the light of your menorah will not burn out. Thus saith Elohim YHWH”. (There was more that I just cannot remember right yet.) I was then lifted up above the high mountains by a breeze of wind, and the wind was like an invisible floor, so that I was able to stand in the sky and see the earth through the wind, like it had a glass floor. There were great movements of water in the oceans/seas (hurricanes?) bearing Greek names that caused more flooding and wreaked more devastation. Then came a pause, and I'm not sure if the days of the pause represent days, months or years. But once the quiet pause was completed, there were four or five great lights that came from the ground that turned the mountains into dust and rubble. (Nuclear war) The flesh of people from miles away dissolved and all that was left from those who perished were their skeletons, clean down to the bones. They had no eyes and their eye sockets were clean as if someone had used bleach to clean out a white plate. Many who survived were maimed, amputees, and as they wept, bright green tears mixed with blood melted away the parts of their face made wet by their tears with a fizzing sound like Alka-Seltzer. They had no eyelids as their eyelids dissolved because of their tears, and their eyes swelled up until they looked bug-eyed. It was then that the skeletons of the dead came alive and hunted the living and killed whoever they caught (i.e. pandemic-disease?) (result of nuclear energy). And then the earth opened up in many places, swallowing up many of those who survived the bright lights, and the oceans and seas grew large, sending waves and storms, too many to count. The dead of many floated on the water and included women, children, babies, animals, men, and cities once hidden from water were now covered in water. And the rivers and the oceans and the seas cried because they were polluted by rotten flesh and blood. I could hear the cries of thousands of people, and the cries made my ears have sharp pains so that I had to put my fingers in my ears. And many of the living blasphemed YHWH and searched for His people to place blame on us. They said, “Let us find the bride and eat their flesh, for it will taste sweet like honey”. (But God will rescue His people at this day of the Lord's wrath.) Then I saw great famine, such as has never been. Rich nations were now begging for bread and were happy to pay much money for rotten bread covered with worms. And many began drinking unclean water from rivers and oceans, and seas that were still full of dead human flesh. And some would drain the blood of their children and roast their child over an open fire, and then feast upon their children, drinking their blood while eating their flesh, and being merry. And disease stood tall, and caused many more to perish.

Please join us at patreon.com/tortoiseshack Prof Constantin Gurdgiev returns to talk about Trump's attack on economic data, the ridiculous surge into AI investment, the booming markets, the fraying social contract, the EU, China, Russia and Ukraine and even a few words on the Connolly presidency victory. There's a lot in this. But please listen. The Connolly Campaign podcast with the campaign's head of digital, Cian Prendiville is out now here:https://www.patreon.com/posts/patron-exclusive-143243777 Support Dignity for Palestine here:https://www.patreon.com/posts/call-to-stand-143037542

Deficits DO Matter! There is a difference between debt and deficits. We discuss how our deficit has gone down even though the debt has gone over 38 trillion. We also go over the difference between Keynesian economics and Austrian economics. We talk about the 6 richest counties in the nation, which probably aren't located where you think they would be. Foreigners and the major central banks have already realized that holding treasuries is not the best idea, so they are now holding more and more gold. What are we doing to store value? Buying more hard assets faster! Keynes vs Hayek (parts 1 & 2) Quantitative Easing Explained Sponsors: American Gold Exchange Our dealer for precious metals & the exclusive dealer of Real Power Family silver rounds (which we finally got in!!!). Get your first, or next bullion order from American Gold Exchange like we do. Tell them the Real Power Family sent you! Click on this link to get a FREE Starters Guide. Or Click Here to order our new Real Power Family silver rounds. 1 Troy Oz 99.99% Fine Silver Abolish Property Taxes in Ohio: www.AxOHTax.com  Get more information about abolishing all property taxes in Ohio. Our Links: www.RealPowerFamily.com Info@ClearSkyTrainer.com 833-Be-Do-Have (833-233-6428)

Silver just closed October with its highest monthly finish ever, up an incredible 64% year-to-date — but the story behind the surge runs far deeper. From China's collapsing inventories to India's growing solar-driven demand, global forces are reshaping the precious metals market. The U.S. banking sector's hidden risks and central bank buying spree add even more fuel to the fire. Analysts now see $60 silver and $5,000 gold on the horizon. Don't miss this week's full market breakdown — listen to the full report and discover what could be driving the next surge in gold and silver prices.

Send us a textDo Deficits Make You Rich?The uncomfortable truth: fiscal stimulus creates wealth, not consumer inflation.Sat pondering in a Caribbean bar, thinking about intelligence, the Fed, deficits, and why inflation lives in Wall Street not in your supermarket basket. When the government runs a deficit, it injects reserves into the system, an automatic overdraft with the banking system. Later it issues Treasuries that drain those reserves. Economists call it a swap. Net financial wealth in the private sector rises because no one in the private sector owes that shortfall. The government owes it. Not another private entity.So does government spending make you rich? Deficits don't spill into the supermarket, they seep into the trading book. Treasuries move through repo markets, pledged and rehypothecated, transformed into money-like instruments that lubricate leverage. CPI stays calm while portfolios swell. Fiscal deficits expand collateral, leverage builds, and asset prices rise. The inflation we should fear isn't at the checkout counter. It's in the mirror of prudence we call Wall Street.Support the show⬇️ Subscribe on Patreon or Substack for full episodes ⬇️https://www.patreon.com/HughHendryhttps://hughhendry.substack.comhttps://www.instagram.com/hughhendryofficialhttps://blancbleustbarts.comhttps://www.instagram.com/blancbleuofficial⭐⭐⭐⭐⭐ Leave a five star review and comment on Apple Podcasts!

In this episode, Lyn Alden joins the show to explain how tariffs “slow the train but don't stop it,” why the Fed's rate hikes are disconnected from the true inflation source, and how Fed balance sheet expansion is returning. We also discuss the labor cracks, the hidden redistribution of interest income to wealthy savers, and the next phase of the debasement trade. Enjoy! __ Follow Lyn: https://x.com/LynAldenContact Follow Felix: https://x.com/fejau_inc Follow Forward Guidance: https://twitter.com/ForwardGuidance Follow Blockworks: https://twitter.com/Blockworks_ Forward Guidance Telegram: https://t.me/+CAoZQpC-i6BjYTEx Forward Guidance Newsletter: https://blockworks.co/newsletter/forwardguidance __ Grayscale offers more than 30 different crypto investment products. Explore the full suite at grayscale.com. Invest in your share of the future. Investing involves risk and possible loss of principal. https://www.grayscale.com/?utm_source=blockworks&utm_medium=paid-other&utm_campaign=brand&utm_id=&utm_term=&utm_content=audio-forwardguidance — Timestamps: (00:00) Introduction (01:35) Tariffs & the Fiscal Outlook (09:13) The Flow of Interest Payments (12:49) Grayscale Ad (13:27) Government Shutdown Impact (15:36) Fiscally-Dominant Economies (19:51) Measuring Economic Weakness (22:49) The State of the Labor Market (26:09) Grayscale Ad (26:56) Should the Fed Cut? (30:56) How We Fight Inflation (34:18) The Fed Balance Sheet (41:20) Past vs Present Funding Constraints (45:06) Fed Balance Sheet & Liquidity (48:43) Active Treasury Issuance (51:20) The Fed & Bank Liquidity (53:03) The Debasement Trade (57:54) Final Thoughts __ Disclaimer: Nothing said on Forward Guidance is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are opinions, not financial advice. Hosts and guests may hold positions in the companies, funds, or projects discussed. #Macro #Investing #Markets #ForwardGuidance

In this episode of Energy Newsbeat – Conversations in Energy, Stu Turley sits down with Wasif Latif, President of Sarmaya Partners, to explore the “Return to Tangibles” investment thesis. Latif explains why commodities like gold, silver, copper, and platinum are outperforming tech stocks and bonds in today's market. He breaks down the geopolitical catalysts, surging industrial demand, and the performance of the LENS ETF—designed to capture this tangible asset boom. From silver's breakout and platinum's comeback to supply chain rewiring and defense-driven resource demand, this episode is a masterclass on navigating a deglobalizing, resource-constrained world.7% retracement is another instance of the market digesting gains rather than signaling exhaustion. We see this spike in volatility as a healthy reset, not a sign of weakness. It's how long-term strength shows up and builds momentum.· Deficits, not just interest rates, are driving liquidity creation. With Social Security, Medicare, and Net Interest absorbing more than half of all U.S. federal outlays, fiscal consolidation seems a politically impossible. This structural imbalance anchors gold's long-term bid as policymakers rely increasingly on monetary and fiscal accommodation to finance spending.· Central banks have become systematic gold buyers, treating it as a Tier 1 reserve asset amid rising geopolitical fragmentation and declining trust in fiat discipline. Their price-insensitive accumulation sets a structural floor beneath the market. For investors, the behavioral edge lies in patience, the capacity to stay invested through cyclical volatility in a secular uptrend.See how energy plays into the return to tangibles. As always, Wasif, thank you for stopping by! - Stu Substack: https://sarmayakar.substack.com/Check out https://sarmayapartners.com/LinkedIn: https://www.linkedin.com/in/wasiflatif/Highlights of the Podcast 00:00 – Intro00:56 – JP Morgan's $10B Strategic Investments02:11 – Rise of Geopolitical Investing & Strategic Imperatives02:28 – Return to Tangibles: The Core Thesis04:36 – Ringing the Bell: Launch of LENS ETF05:37 – Silver Breaks Out: Early Stages of Bull Run09:00 – Precious Metals vs. Tech & Bonds11:05 – Platinum's Comeback & EV Reality Check13:55 – Geopolitics, Military Spending & Commodity Demand15:30 – "We're in the Stuff Shovels Pick Up"17:40 – Oil Lagging—But Not for Long19:56 – LENS ETF Performance YTD21:21 – How Samarya Partners Invests Differently23:50 – Gold vs. S&P500 (Real Returns)25:17 – Inflation Outlook & Rate Cuts27:12 – AI, Data Centers & Energy-Driven Inflation30:18 – Long-Term Trends: Stagflation, Labor vs. Capital30:20 – How to Reach Wasif LatifCheck out the Transcript at EnergyNewsBeat.coCheck out the additional article at https://theenergynewsbeat.substack.com/

Have a message for Karena? She'd love to hear from you and share your comment or question on air!Leave Karena a voicemail: https://www.speakpipe.com/KarenaDawnWhat if one terrifying night became the catalyst for a lifetime of healing?In this powerhouse episode of The Big Silence, Karena sits down with Angelo Keely, co-founder and CEO of Kion, to unpack his extraordinary path—from a near-fatal stabbing at 16 to building a company rooted in simple, consistent habits that support both muscle and mood. Angelo breaks down protein (in plain English), and you'll learn how small, repeatable choices can stack up into real change. He also explains why essential amino acids and creatine are especially impactful as we age. If you've wondered how to protect muscle, sharpen your mind, or support mental health without going “all or nothing,” this one's for you.How Do We Build Muscle and Mood—At Any Age—With Protein, Aminos, Creatine, and Consistent Habits?Angelo shares the science and the systems that actually work, and how to choose one tiny action you can repeat every day for real impact.(00:01:00) What Kion Is—and Why Angelo Says You Don't “Need” ItPrinciple first, product second: Food comes first; EAAs are a targeted way to stimulate muscle protein synthesis with fewer calories.Non-workout days matter: EAAs still drive protein synthesis—even on rest days.Consistency > intensity: Angelo takes EAAs every morning (often with creatine) to “tell” his body to rebuild.Better together: Taking EAAs before training leverages increased blood flow for greater impact.(00:05:30) From Bad Trip to Bigger Life: Trauma, Accountability, and 20 Years of IntegrationThe turning point: A severe LSD episode led to assault and multiple stab wounds—sparking a decades-long healing journey.Whole-person recovery: Talk therapy, meditation, yoga, acupuncture, movement, and study.Daily rhythm: 15k steps, basic strength work, slow “zone-2” runs, and short family meditations.One thing rule: Pick one change you'll actually do every day; stack from there.(00:14:30) Protein 101: Why EAAs Can Beat Whey—and Whey Often Beats SteakEnergy vs. materials: Carbs/fats fuel; protein rebuilds tissues, enzymes, hormones, and neurotransmitters.Quality counts: Higher essential amino acid content + digestibility = stronger protein synthesis signal.Practical takeaway: EAAs can deliver the goal of protein (rebuild/retain muscle) with fewer calories—useful for fat loss without muscle loss.Aging advantage: As we age, we're less sensitive to protein; powders and EAAs become more useful.(00:31:30) Creatine & Women: Strength, Cognition, and Mood—Minus the “Bloat” MythHow it works: Creatine saturates muscle (and brain) phosphocreatine stores, making reps and sprints feel slightly easier—strength builds over time.Brain benefits: Higher intakes in studies have shown improvements in memory/focus; emerging research suggests better depression outcomes.Myth-busting: Quality creatine monohydrate doesn't cause true “bloat”; women tend to gain strength/endur­ance—not bulk.Dosage mindset: Daily use matters (not just on lift days). Pair with protein/EAAs and strength work for the compounding effect.(00:40:30) Weight Loss Without Muscle Loss: GLP-1s, Deficits & The Case for More Protein/EAAsThe risk: Calorie deficits (drug-assisted or not) can strip muscle unless protein/EAAs are substantially higher.Target outcome: Lose fat, keep muscle—use EAAs as a “cheat code” to shore up a...

In the final installment of this three-part series, Darryl Lyons, CEO & Co-Founder of PAX Financial Group, takes a deeper look at the widely discussed predictions of a potential market downturn in 2030. Rather than leaning into fear, headlines, or doomsday forecasts, Darryl breaks down the four major forces that many believe could collide: government spending, inflation, demographic shifts, and a potential AI bubble. Darryl also discusses the “Chicken Little” voices that have been calling for market catastrophe for decades, spotlighting the dangers of linear thinking, pessimistic modeling, and predictions that ignore innovation, human behavior, and historical resilience. With a practical and level-headed approach, he discusses why long-term investors often benefit from focusing less on fear and more on building durable plans designed to navigate uncertainty. In this episode, Darryl covers: The four “cars in the intersection” that fuel 2030 crash predictions. Why pessimists are rarely held accountable for bad forecasts. How linear thinking skews market narratives. The potential risks behind government spending and demographics. Why AI could be transformative - even if parts of it become a bubble. Five practical steps for navigating uncertainty. If you missed Parts I and II, be sure to go back and listen so you can follow the full conversation from start to finish. Listen to more episodes here: https://PAXFinancialGroup.com/podcasts If you enjoyed today's episode, share it with your family and friends! Resources: The State of the Federal Budget: From Tariff Revenue to Deficits and DOGE Cuts - WSJ What Will the World Look Like After the 2030s Great Depression? Boom or bubble: How long can the AI investment craze last? This Is How the AI Bubble Will Pop - Derek Thompson How the Great Inflation of the 1970s Happened Here's What Experts Say It Will Take to Fix Social Security | The Motley Fool The Collapse of Medicare Is Happening Faster Than Expected - The Winston Group Goldman Sachs Strategist: No Stock Market Bubble, Yet | The WealthAdvisor

Adam Parker, founder and CEO of Trivariate and Trivector Research, joins Excess Returns to discuss how fundamental, quantitative, and macro perspectives intersect to shape markets today. Parker shares his long-term bullish case for U.S. equities, why traditional valuation signals no longer work, the biggest risks he sees for investors, and how AI, inflation, and market structure are reshaping opportunities and risks in real time.Main topics covered:Why combining fundamental, quantitative, and macro analysis gives a clearer view of marketsThe case for the S&P 500 reaching 10,000 by 2030Structural reasons why market multiples may stay higher for longerThe key bear cases: hyperscaler CapEx risk, fiscal deficits, and AI-driven unemploymentComparing today's market to the dot-com eraWhy traditional recession indicators have failedHow COVID changed the economic cycle and business synchronizationInflation, tariffs, and what the Fed is really watchingWhy valuation is a broken signal for stock pickingThe quant factors that matter most todayETF factor exposures and hidden risksHow to think about the 60/40 portfolio, diversification, and private marketsWhy U.S. innovation and margins make it the dominant equity marketKey lessons and philosophies for long-term investorsTimestamps:00:00 What really drives equity investing03:00 Adam Parker's background and multi-lens approach05:00 Why he's long-term bullish and sees S&P 10,00008:00 Structural margin expansion and AI productivity09:00 The three major bear cases14:00 How today compares to the 1990s tech bubble18:00 Why the economy has stayed resilient20:00 COVID's impact on business cycles23:00 Market structure, inventory, and margins24:00 Inflation, tariffs, and Fed outlook29:00 Deficits and why timing macro risks is hard32:00 Large vs small cap dynamics37:00 Why valuation doesn't work41:00 Key quant factors to watch43:00 ETF grading and hidden exposures46:00 The 60/40 portfolio and asset allocation51:00 U.S. vs Europe and innovation advantage55:00 Lessons for investors and closing thoughts

Calorie cycling isn't a trick—it's stress management for your metabolism. In this Mini Micropedia, Mikki explains how sustained restriction can drive adaptive thermogenesis: leptin falls, ghrelin rises, thyroid output dips, NEAT declines, and fat loss stalls. Then she lays out practical cycling options—from simple weekday–weekend shifts to planned carb refeeds, diet breaks, and PSMF days—so you can periodise your intake around training and real life without blowing your deficit. You'll learn who benefits (and who shouldn't use it), why protein (≥1.6–2.2 g/kg) and resistance training are non-negotiables, and how to set your weekly calorie budget, distribute it across the week, and interpret scale bumps from glycogen and water. The goal: precision over punishment—an approach you can actually sustain.Don't miss Mikki's webinar “Fat Loss in the Festive Season” on Wednesday 29 October, running at 1:00 pm and 7:00 pm NZT.Episode HighlightsWhy adaptive thermogenesis makes continuous dieting harder (leptin ↓, ghrelin ↑, thyroid ↓, NEAT ↓).Calorie-cycling options: weekday–weekend shifts, strategic carb refeeds, diet breaks, PSMF; pros and cons.Non-negotiables: high protein (≥1.6–2.2 g/kg) and resistance training to protect lean mass.How to plan: set maintenance, choose a 15–25% weekly deficit, distribute low/high days around training and social life.Interpreting the scale: glycogen + water explain short-term weight spikes after high-carb days. Contact Mikki:https://mikkiwilliden.com/https://www.facebook.com/mikkiwillidennutritionhttps://www.instagram.com/mikkiwilliden/https://linktr.ee/mikkiwillidenSave 20% on all Nuzest Products WORLDWIDE with the code MIKKI at www.nuzest.co.nz, www.nuzest.com.au or www.nuzest.comCurranz supplement: MIKKI saves you 25% at www.curranz.co.nz or www.curranz.co.uk off your first order

The US Fiscal Crisis: Spending Cuts Are the Only Way Out GUEST NAME: Adam Michel Adam Michel, director of tax policy at the Cato Institute, discusses the US fiscal crisis stemming from large deficits and overwhelming debt. He recalls the 1980s Ronald Reagan tax cut where promised spending cuts never materialized. The deficit is the annual gap between taxes and spending, accumulating into the national debt. Michel identifies a "deficit hawk coalition" split between deficit hawks (agnostic on revenues/spending) and budget hawks (concerned with government size), advocating for spending cuts to solve the crisis. Entitlement programs like Social Security, Medicare, and Medicaid are the root of fiscal problems. 1903

The US Fiscal Crisis: Spending Cuts Are the Only Way Out GUEST NAME: Adam Michel Adam Michel, director of tax policy at the Cato Institute, discusses the US fiscal crisis stemming from large deficits and overwhelming debt. He recalls the 1980s Ronald Reagan tax cut where promised spending cuts never materialized. The deficit is the annual gap between taxes and spending, accumulating into the national debt. Michel identifies a "deficit hawk coalition" split between deficit hawks (agnostic on revenues/spending) and budget hawks (concerned with government size), advocating for spending cuts to solve the crisis. Entitlement programs like Social Security, Medicare, and Medicaid are the root of fiscal problems. 1936

Fiscal Irresponsibility, the Cost of Debt, and the Loss of Welfare Reform Lessons Veronique De Rugy of the Mercatus Center criticized Washington's fiscal irresponsibility and the mounting cost of debt, arguing that enormous deficits create an anti-growth drag on the economy. She noted that failing to cut spending is a future tax hike. De Rugy lamented the loss of lessons from the 1996 welfare reform, which showed that work requirements reduced poverty, as politicians now prioritize spending checks over fiscal prudence.D 1937

The Debt-to-GDP ratio of the world's largest economies is rising at a frightening pace as reckless deficit spending has become the order of the day.This is increasingly pushing investors into asset classes that offer protection from the inflation/loss of fiat currency purchasing power that results.Meanwhile, the gargantuan buildout of processing power and electricity generation & transmission need for AI is unleashing a global era of "Mine, Baby, Mine".This, also, is enticing investors to own natural resources. Combined together, these two trends paint a very compelling picture of relentless demand for hard assets for the foreseeable future.So, how to take advantage of this trend?Jonathan Wellum, founder of Rocklinc Investment Partners, Thoughtful Money's endorsed Canadian financial advisor, shares how his firm is positioning.For the details, watch this video.YOU CAN STILL GET THE 'LAST CHANCE TO SAVE' PRICE DISCOUNT FOR THE THOUGHTFUL MONEY FALL CONFERENCE AT https://thoughtfulmoney.com/conference#goldprice #oil #commodities _____________________________________________ Thoughtful Money LLC is a Registered Investment Advisor Promoter.We produce educational content geared for the individual investor. It's important to note that this content is NOT investment advice, individual or otherwise, nor should be construed as such.We recommend that most investors, especially if inexperienced, should consider benefiting from the direction and guidance of a qualified financial advisor registered with the U.S. Securities and Exchange Commission (SEC) or state securities regulators who can develop & implement a personalized financial plan based on a customer's unique goals, needs & risk tolerance.IMPORTANT NOTE: There are risks associated with investing in securities.Investing in stocks, bonds, exchange traded funds, mutual funds, money market funds, and other types of securities involve risk of loss. Loss of principal is possible. Some high risk investments may use leverage, which will accentuate gains & losses. Foreign investing involves special risks, including a greater volatility and political, economic and currency risks and differences in accounting methods.A security's or a firm's past investment performance is not a guarantee or predictor of future investment performance.Thoughtful Money and the Thoughtful Money logo are trademarks of Thoughtful Money LLC.Copyright © 2025 Thoughtful Money LLC. All rights reserved.

Deficits & “Stimulus” Checks = More Inflation & A Huge Bubble That Will Burst by Ron Paul Liberty Report

“I do believe it could be an epic lifetime event,” says David Morgan, author of The Silver Manifesto, on the coming surge in gold and silver. Morgan warns that this is “not a nation state event like the Weimar Republic or Argentina… this is a global event.” With central banks scrambling, the dollar under pressure, and industrial demand now consuming up to 70% of all silver, Morgan argues the setup is unprecedented: “Right now… the only way to make supply and demand balance is by eating the above-ground supply.”As gold keeps smashing records—“we're in the acceleration phase… 90% of the move comes in the last 10% of the time”—silver's upside could be even greater. “Gold will get to a point where the average person can't buy an ounce at $4,000, but they can buy a lot of silver at $40. And that's when silver will actually take over gold and out-accelerate it.”✅ FREE RESOURCESDownload The Private Wealth Playbook — a data-backed guide to strategically acquiring gold and silver for maximum protection, privacy, and performance. Plus, get Daniela Cambone's Top 10 Lessons to safeguard your wealth (FREE)

From AssetBuilder's Plano HQ, host Joey Badinger sits down with Adam Morse, Janet Griffith, and Tommy Williams to unpack America's debt picture—from household budgets to the federal balance sheet. We break down mortgages vs. auto/student/credit-card debt, what rising rates mean, how to use debt-to-income (DTI) the smart way (the 28/36 rule), and practical habits to avoid lifestyle creep and instant-gratification financing. You'll learn: How much U.S. households owe (and where it sits by generation) Why mortgages can be “productive” debt—and why long car loans aren't Current rate realities (mortgage, auto, student loans, credit cards) Exactly how to calculate your DTI (with target ranges) Behavior traps: BNPL, long auto terms, monthly-payment thinking What “deficits” mean at home and at the national level—and why they compound Hosts & Credentials: Joey Badinger (Lead Advisor), Adam Morse (Director of Advising), Janet Griffith (Senior Advisor), Tommy Williams (Associate Advisor), AssetBuilder, Plano, TX. Contact the show: https://www.assetbuilder.com Chapters 00:00 Intro & Disclaimer 00:32 Welcome, Hosts & Setup (Plano HQ) 01:00 What We're Covering: Consumer vs. National Debt 02:00 U.S. Household Debt Snapshot (Totals & Averages) 03:15 Debt by Age Cohort (30–39, 40–49 peak, etc.) 05:10 Gen Z, Mortgages & Down Payments 06:00 Is Debt “Bad”? Productive vs. Dangerous Debt 07:20 National Debt vs. GDP (Post-WWII to Today) 09:40 Auto Loans Deep Dive (Long Terms, Delinquencies) 12:10 Average Loan Sizes (New vs. Used) 13:00 Deficits at Home & Nationally—What It Means 14:20 Growth Limits, Demographics & Reality Check 16:00 Rate Check: Mortgage, Auto, Credit Cards, Student Loans 18:30 Emergency Funds > High-APR Credit Cards 20:10 BNPL & Instant-Gratification Traps 21:10 Know Your Biases (Impulse, Overconfidence) 22:40 Budgeting Habits That Actually Stick 26:10 How to Calculate DTI (28/36 Rule) 28:30 Lender Approval vs. Healthy DTI 31:00 Why 70+ Debt Can Be Risky (Context Matters) 33:00 Depreciating vs. Appreciating Assets (Cars vs. Homes) 34:20 Action Steps: Start Small, Delay Gratification 36:00 How to Contact & Subscribe 36:30 Sign-Off & Disclosure Key Takeaways Debt is a tool, not a villain. Mortgages can raise quality of life; revolving/consumer debt at high APRs can snowball. Auto loans are 2nd-largest consumer debt and loan terms are stretching—be wary of “just the monthly.” Credit-card APRs >20% make balances dangerous; build emergency savings to avoid swipes under stress. DTI targets: ≤28% housing (PITI+HOA), ≤36% total debts is healthy; 50%+ is a red flag. Behavior beats hacks: budget regularly, delay gratification, prefer used cars/shorter terms, question “need vs. want.” Hashtags & Keywords Keywords: consumer debt 2025, debt to income ratio, 28/36 rule, mortgage vs rent, auto loan terms, credit card APR, student loans, national debt vs GDP, budgeting tips, AssetBuilder advisors Hashtags: #PersonalFinance #DebtFreeJourney #DTI #Mortgage #AutoLoans #CreditCards #Investing #Budgeting #KeepItSimplePodcast #AssetBuilder

In this week's episode of the Coin Stories News Block powered exclusively by Ledn, we cover these major headlines related to Bitcoin, macroeconomics, and global finance: Bitcoin's Recent Price Volatility Explained - Is Another "Uptober" Ahead? Markets React as Government Shutdown Fears Rise Bloomberg: Tether Raising Up to $20B on $500B Valuation Will Stablecoins Help Run U.S. Deficits? U.K. Approves Mandatory Digital IDs for Workers OranjeBTC Launches Largest Bitcoin Treasury in Latin America Vanguard To Finally Approve Bitcoin ETFs? ---- The News Block is powered exclusively by Ledn – the global leader in Bitcoin-backed loans, issuing over $9 billion in loans since 2018, and they were the first to offer proof of reserves. With Ledn, you get custody loans, no credit checks, no monthly payments, and more. My followers get .25% off their first loan. Learn more at www.ledn.io/natalie  ---- Read every story in the News Block with visuals and charts! Join our mailing list and subscribe to our free Bitcoin newsletter: https://thenewsblock.substack.com  ---- References mentioned in the episode: Bitcoin's 90-day Volatility Hits 8-Year Low $300B in Long Positions Liquidated in Price Crash Who'll Lose When the Government Shuts Down? Fidelity Research on Bitcoin's Volatility Trump to Meet With Democrats to Avoid Shutdown CRFB Article on Government Shutdown President Trump's Post on Powell Getting Fired Tether's USAT Promotional Video Tether In talks to Raise at $500B Valuation Bessent Aims to Reduce Bank Capital Requirements Britain to Approve Mandatory Digital IDs for Workers Bessent Says Stablecoins Could Increase Treasury Demand Michael Shellenberger's Article on Digital IDs Vanguard Eyes Crypto ETFs on Platform Kamala Harris Calls out Ross Ulbricht Ross Ulbricht Responds to Kamala Harris OranjeBTC Launches as Largest BTC Holder in LATAM Michael Saylor's Speech on Treasury Companies ---- Upcoming Events: Bitcoin 2026 will be here before you know it. Get 10% off Early Bird passes using the code HODL: https://tickets.b.tc/event/bitcoin-2026?promoCodeTask=apply&promoCodeInput=  Your Bitcoin oasis awaits at Camp Nakamoto: A retreat for Bitcoiners, by Bitcoiners. Code HODL for discounted passes: https://massadoptionbtc.ticketspice.com/camp-nakamoto      ---- This podcast is for educational purposes and should not be construed as official investment advice. ---- VALUE FOR VALUE — SUPPORT NATALIE'S SHOWS Strike ID https://strike.me/coinstoriesnat/ Cash App $CoinStories #money #Bitcoin #investing

Describe the pathomechanics of insertional achilles tendonopathy, identify altered motor patterns and tendon structure as a consequence of achilles tendonopathy, and discuss updated evidence on rehabilitation concepts for insertional and midportion achilles tendonopathyTimestamps(3:09) Anatomy Review(4:12) Pathomechanics of Achilles tendonopathy(9:26) Deficits associated with Achilles tendonopathy(14:08) Rehabilitation concepts for Achilles tendonopathy--ARTICLE CITATIONS used for this episode: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://atcornerds.wixsite.com/home/blog⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠AT CORNER FACEBOOK GROUP: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.facebook.com/groups/atcornerpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Instagram, Website, YouTube, and other links: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠atcornerds.wixsite.com/home/links⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠EMAIL US: atcornerds@gmail.comSAVE on ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠Medbridge⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠: Use code ATCORNER to get $101 off your subscriptionMusic: Jahzzar (betterwithmusic.com) CC BY-SA—TO GET CATEGORY A CEUs for listening to this episode, enroll in this course: https://clinicallypressed.org/courses-home/Take the quiz and course evaluation and your certificate will be generated for you! We have no financial disclosures or conflict of interests.---Sandy & Randy

Streaming live Mondays at 6pm ET on The Jack Mallers Show YouTube channel.

#LONDONCALLING:  @JOSEPHSTERNBERG @WSJOPINION Joseph Sternberg: discusses the alarming speculation that the UK and France might require IMF bailouts due to their enormous debt piles and fiscal deficits, and a political inability to implement austerity measures. He notes the UK is exhibiting "precrisis" signs with a weakening pound and rising long-term borrowing costs, reflecting a loss of investor confidence in its economic growth. Sternberg concludes that these major economies are too large for a traditional IMF bailout, implying they must address their fiscal challenges internally to avoid a financial crisis. 1850 BANK OF ENGLAND

CONTINUED: #LONDONCALLING:  @JOSEPHSTERNBERG @WSJOPINION Joseph Sternberg: Joseph Sternberg discusses the alarming speculation that the UK and France might require IMF bailouts due to their enormous debt piles and fiscal deficits, and a political inability to implement austerity measures. He notes the UK is exhibiting "precrisis" signs with a weakening pound and rising long-term borrowing costs, reflecting a loss of investor confidence in its economic growth. Sternberg concludes that these major economies are too large for a traditional IMF bailout, implying they must address their fiscal challenges internally to avoid a financial crisis. 1873 TRIAL OF FORGERS OF BANK OF ENGLAND

In this episode, Kim answers your biggest questions about fat loss, calorie intake, and how to build muscle even while eating in a deficit. She explains the best order for strength training and cardio, the truth about cellulite, and why consistency and precision are the real keys to long-term results. She also shares full details of the upcoming Buck Camp 3.0 Challenge — launching Thursday with a $30,000 prize pool for the top 10 competitors. The program includes meal plans, workouts, a customer hub, and is open to both app members and non-members. Challenge starts September 15. What you'll learn in this episode: – The best order for workouts to maximise fat loss – How women can still build muscle in a calorie deficit – When to stick with a nutrition plan and when to change – Why nutrient timing matters (especially post-workout) – How weighted vests can keep your burn high as body fat drops – The real cause of cellulite and what it takes to reduce it – How to stop emotions from derailing your progress This episode blends practical fat loss advice with powerful mindset coaching — all geared toward women who are ready to dial things in and see real results.

Stu Burguiere gives an update on the mass shooting in Minneapolis. Then, Stu dives into the economic weeds of the Trump tariffs and speculates on whether they will lower the national deficit by up to $4 trillion, as claimed by the president and his Cabinet. Plus, CBN's Dan Andros joins to give his take on the Great Cracker Barrel 180 of 2025. And BlazeTV's Jeff Fisher joins to discuss a new ranking of the nation's most crime-riddled cities. TODAY'S SPONSOR BRICKHOUSE NUTRITION Celebrate Brickhouse Nutrition's Labor Day Sale with 25% off your order with the code LABORDAY25 at http://www.brickhousenutrition.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Economic Update returns next week to its regular schedule! This week's episode was recorded in June this year and covers topics our viewers have written to us and requested. Professor Wolff explains what deficits are and why the capitalist system enables and invites employers to cause them. He then proceeds to explain how deficits both solve specific problems of capitalism while also causing others. Over time, problems accumulate to undermine the credit of the US and bring economic crisis. Modern Monetary Theory (MMT) is shown to offer one way out of the crisis by changing how money is created.    The d@w Team Economic Update with Richard D. Wolff is a DemocracyatWork.info Inc. production. We make it a point to provide the show free of ads and rely on viewer support to continue doing so.  You can support our work by joining our Patreon community:  https://www.patreon.com/democracyatwork Or you can go to our website: https://www.democracyatwork.info/donate     Every donation counts and helps us provide a larger audience with the information they need to better understand the events around the world they can't get anywhere else.  We want to thank our devoted community of supporters who help make this show and others we produce possible each week. We kindly ask you to also support the work we do by encouraging others to subscribe to our YouTube channel and website: www.democracyatwork.info

As our national debt continues to balloon wider and wider, rarely does the government take active steps to rein it in. In this episode, we speak to a national debt expert about how the Trump Administration can still course-correct. - - - Wake up with new Morning Wire merch: https://bit.ly/4lIubt3 - - - Today's Sponsor: HelloFresh - Go to https://HelloFresh.com/MORNINGWIRE10FM now to Get 10 Free Meals + a Free Item for Life! - - - Privacy Policy: https://www.dailywire.com/privacy morning wire,morning wire podcast,the morning wire podcast,Georgia Howe,John Bickley,daily wire podcast,podcast,news podcast Learn more about your ad choices. Visit megaphone.fm/adchoices

Louis-Vincent Gave returns with a blunt assessment of a global order fraying at key seams. Construction is stalling. Trade policy is adrift. Capital is retreating from the U.S. And yet, markets hum along... propped up by AI euphoria and the illusion of fiscal permanence. In this conversation with Alan Dunne, Louis questions whether investors grasp the shifting ground beneath their feet: from rising tariff walls to energy fragility, from the quiet restructuring of China's financial system to the early signals of capital rotation into emerging markets. If this is a transition phase, most portfolios aren't built for what comes next.-----50 YEARS OF TREND FOLLOWING BOOK AND BEHIND-THE-SCENES VIDEO FOR ACCREDITED INVESTORS - CLICK HERE-----Follow Niels on Twitter, LinkedIn, YouTube or via the TTU website.IT's TRUE ? – most CIO's read 50+ books each year – get your FREE copy of the Ultimate Guide to the Best Investment Books ever written here.And you can get a free copy of my latest book “Ten Reasons to Add Trend Following to Your Portfolio” here.Learn more about the Trend Barometer here.Send your questions to info@toptradersunplugged.comAnd please share this episode with a like-minded friend and leave an honest Rating & Review on iTunes or Spotify so more people can discover the podcast.Follow Alan on Twitter.Follow Louis on Twitter.Episode TimeStamps: 02:20 - (Re)Introduction to Louis Gave03:45 - Gave's analysis of the current economic data09:45 - What causes the weakening of the economy?11:54 - The outlook for tariffs - will they eventually become stable?16:16 - The future for inflation - will it become more persistent over time?20:43 - The risk factors of energy markets25:51 - Will we see a Fed cut in September?26:58 - Powell - in or out?31:13 - We are seeing a paradigm shift in the US Dollar38:26 - The outcome of the AI revolution43:03 - Deficits are like tequila shots46:55 -...

Big Beautiful Bankruptcy Update Deficits Skyrocketing by Ron Paul Liberty Report