Podcasts about Great Depression

Carmela Then: When Remote Teams Stop Listening—The Silent Killer of Agile Collaboration Read the full Show Notes and search through the world's largest audio library on Agile and Scrum directly on the Scrum Master Toolbox Podcast website: http://bit.ly/SMTP_ShowNotes.   "Two minutes into it, my mind's starting to wander and I started to do my own thing." - Carmela Then   Carmela paints a vivid picture of a distributed team stretched across Sydney, New Zealand, India, and beyond—a team where communication had quietly become the enemy of progress. The warning signs were subtle at first: in meetings with 20 people on the call, only two or three would speak for the entire hour or two, with no visual aids, no PowerPoints, no drawings. The result? Within minutes, attention drifted, and everyone assumed someone else understood the message.  The speakers believed their ideas had landed; the listeners had already tuned out. This miscommunication compounded sprint after sprint until, just two months before go-live, the team was still discussing proof of concept. Trust eroded completely, and the Product Owner resorted to micromanagement—tracking developers by the hour, turning what was supposed to be an Agile team into a waterfall nightmare. Carmela points to a critical missing element: the Scrum Master had been assigned delivery management duties, leaving no one to address the communication dysfunction.  The lesson is clear—in remote, cross-cultural teams, you cannot simply talk your way through complex ideas; you need visual anchors, shared artifacts, and constant verification that understanding has truly been achieved.   In this segment, we talk about the importance of visual communication in remote teams and psychological safety.   Self-reflection Question: How do you verify that your message has truly landed with every team member, especially when working across time zones and cultures? Featured Book of the Week: How to Win Friends and Influence People by Dale Carnegie Carmela recommends How to Win Friends and Influence People by Dale Carnegie, a timeless classic that remains essential reading for every Scrum Master. As Carmela explains, "We work with people—customers are people, and our team, they are human beings as well. Whether we want it or not, we are leaders, we are coaches, and sometimes we could even be mentors." Written during the Great Depression and predating software entirely, this book emphasizes that relationships and understanding people are the foundation of personal and professional success. Carmela was first introduced to the book by a successful person outside of work who advised her not just to read it once, but to revisit it every year. For Scrum Masters navigating team dynamics, stakeholder relationships, and the human side of Agile, Carnegie's principles remain as relevant today as they were nearly a century ago.   [The Scrum Master Toolbox Podcast Recommends]

In the midst of Great Depression era Columbia, a young man was celebrating his 15th birthday. Intrigued by the prospect of a job opprotunity, he accepted a ride from a strange man as his mother looked on. Little did she nor the rest of the city realize that would be her son's last ride.Acknowledgments and credits to:The New York Times 3/14/1934Missing in the Carolinas and Renne RobersonThe State 12/26/1933

How mathematical rigor, probabilistic thinking, and family priorities shape a young investor's approach to finding overlooked opportunities.The episode is sponsored by TenzingMEMO — the AI-powered market intelligence platform I use daily for smarter company analysis. Code BILLIONS gets you an extended trial + 10% off.https://www.tenzingmemo.com/David Diranko is a 29-year-old German mathematician turned professional value investor who uniquely combines statistical rigor with contrarian small-cap investing, building his investment advisory firm Diranko Capital while sharing research through his newsletter Contrarian Cash Flows.3:00 - David explains his unconventional journey from mathematics to IBM data scientist to full-time value investor, detailing how he worked 40+ hours at IBM while spending another 30 hours weekly on investing before making the leap to launch Duranko Capital.6:00 - Drawing parallels between Ben Graham as "the original data scientist" during the Great Depression, David discusses how mathematical thinking enhances investment analysis through probabilistic frameworks and viewing intrinsic value as a range rather than a single number.10:00 - The decision to share research publicly through Contrarian Cash Flows despite initial hesitation about giving away "edge," leading to deeper thinking, network effects, and unexpected client relationships—though David candidly admits he's still learning to balance transparency with proprietary insights.20:00 - Europe's structural advantages for small-cap investors: fragmented markets across 27 countries, language barriers creating information asymmetries, and limited institutional coverage enabling patient capital to exploit mispricing—with David emphasizing the importance of investing in quality businesses over statistical cheapness.35:00 - AI's transformative impact on investing: from automating routine tasks to potentially replacing 50% of analyst work, while emphasizing that relationship-building, creative thinking, and probabilistic judgment remain distinctly human advantages that AI cannot replicate.50:00 - Balancing entrepreneurship with young family life (two kids under three), David shares his contrarian view that starting families early while building careers creates stronger bonds through shared struggle, rejecting the common narrative of family as a "reward" for career success.1:02:00 - Closing wisdom on finding meaning beyond financial returns, referencing Charlie Munger's caution that a life purely about buying securities wouldn't be enough—investing must serve a deeper purpose than accumulation.Podcast Program – Disclosure StatementBlue Infinitas Capital, LLC is a registered investment adviser and the opinions expressed by the Firm's employees and podcast guests on this show are their own and do not reflect the opinions of Blue Infinitas Capital, LLC. All statements and opinions expressed are based upon information considered reliable although it should not be relied upon as such. Any statements or opinions are subject to change without notice.Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed.

During the Great Depression, there lived in Fayette County a mountain man named Iley Tate who ruled the hill country between Haydentown to the West Virginia line like a feudal lord. Tate, a father of 20, had amassed considerable wealth as a livestock trader, and, because of his influence and steel-cold demeanor, he had a number of local lawmen and politicians in his hip pocket. Like many powerful men in similiar positions, Iley Tate came to think of himself as untouchable; but this was an illusion that came to a shattering end in the fall of 1932.This is the story of Iley and the Tate family-- a family notorious for feuding, fighting, fornicating... and committing the occasional murder.

TRIGGER WARNING: This episode covers content around violence, murder, war, death, brutality, drug usage, substance abuse, PTSD, animal abuse, racial injustice, hate crimes, and racism. Please be advised.   Welcome back to another episode of Did You Read The Book? ! Join me and my frequent flyer guest, Julie McCulloch-Francis, as we dive real fast into the past to talk about classic Greek themes, wacky mythos, and how in the heck does it tie into the Great Depression (that don't make no sense!) in The Odyssey by Homer.   Our Recommendations Lucifer, the Devil in the Middle Ages by Jeffrey Burton Russell Blood Orange: The Dracula Duet Book 1 by Karina Halle Black Rose: The Dracula Duet Book 2 by Karina Halle   Find Me Online If you like Did You Read The Book?, don't be shy and share with your family, friends, neighbors, and anyone else you see fit! You can also follow me on Twitter (@DYRTBPodcast), Threads, Facebook, Google Podcasts, Amazon Music, iTunes, Tune In/Alexa, Spotify, and Pandora!   About The Show Music composed and produced by Abek Cover art created by Jared Stokes Banner art and background design by IndigoLink Podcast production by Erin Palmer

It's been a while, but we're back with another episode. And this one is a doozy, in all the wrong/right ways. We start with a discussion of how Musk's DOGE initiative was a complete failure. Most of the claimed cuts were inaccurate and didn't happen, and government spending has actually increased during the Trump administration. DOGE failed. This eventually leads to Ryan revealing why he hasn't wanted to discuss politics lately (and we haven't had many recent episodes): while he always knew Trump was a piece of shit, Ryan has finally realized that most of humanity wants that, suggesting they are equally as selfish and inconsiderate of the planet and others. Good times! We then take a quick break to mock the recently announced Trump Class ships that everyone knows are just an attempt to stroke Dear Leader's cock and boost his ego, because the ships are not needed, impossible to build, and already obsolete, but it will also, no doubt, enrich someone who has bribed Trump. Our third topic is a discussion of the recent situation in Minnesota of fraudsters bilking the government to the tune of billions of dollars. Tom's point with this story is that this level of fraud is really only possible with the government, and it's not entirely clear how to prevent it. We end with predictions of what is going to happen to the US. The answer is: DOOM! Revolution! Cataclysmic collapse! Great Depression! Weimar Republic level catastrophe!

Keith shares a mindset-shifting quote from John D. Rockefeller that challenges the idea of trading time for money.  He revisits some of the year's most powerful real estate investing lessons, and breaks down the big forces shaping today's housing market—affordability, supply & demand, demographics, and interest rates.  All of this sets the stage for his data-driven national home price outlook for next year—without the usual crash-and-doom hype. Episode Page: GetRichEducation.com/586 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.com GRE Free Investment Coaching: GREinvestmentcoach.com Get mortgage loans for investment property: RidgeLendingGroup.com or call 855-74-RIDGE  or e-mail: info@RidgeLendingGroup.com Invest with Freedom Family Investments.  For predictable 10-12% quarterly returns, visit FreedomFamilyInvestments.com/GRE or text  1-937-795-8989 to speak with a freedom coach Will you please leave a review for the show? I'd be grateful. Search "how to leave an Apple Podcasts review"  For advertising inquiries, visit: GetRichEducation.com/ad Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— GREletter.com or text 'GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript: Keith Weinhold  0:00   Welcome to GRE. I'm your host. Keith Weinhold, learn from a quote attributed to the world's first billionaire, it will change how you see wealth building. I'll explain why national home prices have never crashed. Then it's gre, 2026, home price appreciation forecast. You'll learn the future the exact percent that home prices will appreciate or depreciate next year. Today on get rich education   Speaker 1  0:29   since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors and delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show guests include top selling personal finance author Robert Kiyosaki. Get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit get rich education.com   Corey Coates  1:14   You're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education.   Keith Weinhold  1:30   Welcome to GRE from Lake Huron, Michigan to Lake Tahoe, California and across 188 nations worldwide. I'm Keith Weinhold, and you're listening to get rich education. You know something I love, quotes that shift your entire mindset, paradigm, and once your mind is shifted, actions follow. Actions develop into patterns. Those patterns become habits, and habits become the new, transformed you few quotes hit harder than the one from resource tycoon John D Rockefeller. He lived from 1839 to 1937 in fact, Rockefeller is widely regarded as the world's first billionaire. His quote, you might have heard it before. It is this, he who works all day has no time to make money. That sounds paradoxical, even provocative. It's sort of like it's inviting you to come in and want to learn more about it. And this is because most people's concept of income generating is to work 40 hours a week for a salary or an hourly wage. But what does that quote really mean? He who works all day has no time to make money, and be sure to capture the all day part of that quote that ties right back into the show that I did with you two weeks ago about the K shaped economy breakdown, where you learned about how capital compounds labor doesn't most people sell their time for dollars, but trading time for money makes you too busy to actually build Wealth. Working and building wealth. Those things are two separate distinct activities in how you're investing your time and energy. Now, most people start out with a wage or a salary job. I surely worked by pushing brooms and cubicle dwelling before investing in my first rental property. But if you're working all day in a job, physically or mentally well, then you're consumed by tasks that only pay you. Once you're occupied, you can often get exhausted and you're only concerned with short term output. You're focused on the next deadline, not the next decade, when all your hours are spent on labor, you have no bandwidth to do what you need to do, which is, create vision, acquire assets, build a portfolio, develop systems, learn tax strategy, evaluate investment deals, network with like minded investors, or refine your strategy with a GRE investment coach. Be cognizant that labor only pays today. Wealth building pays forever. Even if your work a day job, salary doubled, you would have to ask, how would that even build wealth? You could retire earlier, but you would have to keep working the hours, and let's remember that wealth equals freedom. You can't architect a wealth plan from the assembly line. Now, that's something that Rockefeller would have agreed with. Wealth requires less. Leverage and labor has none. So working all day means no leverage. You are the engine instead making money, that means using leverage, and instead of you being the engine, well, the engine is something else, like assets, systems, technology, other people's time, other people's money, and borrowing to inflation profit. Rockefeller believed and proved that leverage beats labor 100 to one. He's not discouraging work. In fact, it's just the wrong type of work, because he was one of the hardest working people alive. And really the bottom line here, with this quote, he who works all day has no time to make money, is that Rockefeller meant that if you spend your life doing tasks, you'll never rise high enough to own things that pay you for life. Earning a living is a different activity than building wealth, and once your mindset is shifted, actions follow, yep, actions develop into patterns, and those patterns become the new you. well as the last episode of the year on the show here, 52 weeks worth, I sure hope that I've helped you think, learn and grow your wealth, as have our guest contributors here early in the year, the father of Reaganomics was here, a man that frequently advised a president inside the White House. He told us how much he dislikes tariffs. Tariffs block free trade, and trade improves our lives. Major apartment investor, Ken McElroy, was here this year, and he predicted that the American home ownership rate will fall below 60% that would be major it's currently at 65 if the home ownership rate falls to 60% that would unleash millions of new renters into the market, and it has not been that low in decades, if ever you got a lot of mortgage insights with chailey Ridge, including learning how you can qualify for income property loans without a w2 job, without a pay stub or without tax returns by instead getting a DSCR loan. You'll recall this year that I discussed 50 year mortgages, and I did that before it even hit the news cycle, telling you that it could be coming and that it could be proposed. I explained why I like 50 year mortgages more than 30 year loans, but be aware it is not imminent that they're coming. Also this year, economist Richard Duncan and commentator Doug Casey discussed the Fed. Richard told us how the President is trying to totally restructure who serves on the Fed, trying to get low interest rate pushers in there. And then just last week, Doug and I discussed how fed decisions just keep hollowing out the middle class. A and E television star Todd drillette told us how to negotiate. I had four good discussions with our own investment coach, nuresh this year, more than usual, a pastor and I discussed a rare topic, what the Bible says about money. You learned how to use AI in your real estate investing and when not to. We had a few episodes about that. But above all the shows this year, they were about you, probably more than any other year that we've had here. I did more listener question episodes where I answered your questions as you wrote in, and I also had more listeners come right onto the show and tell me how this show has personally built their wealth. And of course, this year, I got to meet more of you in person when I served as a faculty member on the terrific real estate guys Investor Summit to see and I got to meet you personally for more than just a handshake. The event was set up so that chances are you had dinner with me as well. So rather than this show being a one way chat from me to you this year was more of a dialog between you and I and more two way communication. A lot of new topics are coming for next year, both me teaching and some great guests. If there's something on the show that you'd like to hear more of or less of, let us know. Write into us or use your voice to tell us either way you can do that. At get rich education.com/contact, let us know what you want to hear more of or less of. Do you like shorter term tactics like when and how to increase the rent? Or do you like mid range tactics like how to constantly do cash out refinances and get a tax free windfall from your properties every year. Or do you like more of the long term strategies like specifically how you profit from inflation? Let us know what you like again, at get rich education.com/contact, now, even if you're listening 10 years. Years from now, which I know you very well. May, I'm going to break down next year's home price appreciation forecast, but I'll do it in a way where you'll learn how to analyze a market for all time coming up. It's gre 2026, national home price appreciation forecast. Learn the future to the exact percent. First listen to this from Freedom family investments and Ridge lending group, because I'm a client of both myself and they can help you. I'm your host. Keith Weinhold   Keith Weinhold  10:29   you know, most people think they're playing it safe with their liquid money, but they're actually losing savings accounts and bonds don't keep up when true inflation eats six or 7% of your wealth. Every single year I invest my liquidity with FFI freedom family investments in their flagship program. Why fixed 10 to 12% returns have been predictable and paid quarterly. There's real world security backed by needs based real estate like affordable housing, Senior Living and health care. Ask about the freedom flagship program. When you speak to a freedom coach there, and that's just one part of their family of products, they've got workshops, webinars and seminars designed to educate you before you invest. Start with as little as 25k and finally, get your money working as hard as you do. Get started at Freedom, family, investments.com/gre, or send a text now it's 1-937-795-8989, yep, text their freedom coach, directly. Again, 1-937-795-8989,   Speaker 2  11:40   the same place where I get my own mortgage loans is where you can get yours. Ridge lending group and MLS, 42056, they provided our listeners with more loans than anyone because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. Start your prequel and even chat with President Caeli Ridge personally. While it's on your mind, start at Ridge lending group.com that's Ridge lending group.com   Robert Kiyosaki  12:14   this is our Rich Dad, Poor Dad. Author Robert Kiyosaki. Listen to get rich education with Keith Weinhold. And there is, I respect Kate. He's a very strong, smart, bright young man.   Keith Weinhold  12:35   Welcome back to get rich education. It's episode 586 the last show of the year. I'm your host. Keith Weinhold, I am proud to present to you in this segment of the show gre 2026, national home price appreciation forecast, where I use my insight and experience so that you'll learn the exact percent that national home prices will either appreciate or depreciate next year. It's the fifth consecutive year that we're doing this. I nailed the first three spot on and then this year happened. I'll get to reviewing my track record, total accountability. First understand something, real estate values have never crashed in your entire lifetime, even if you're 90 years old, to grab eyeballs, slack jawed, tick tock. Call them crash talk. Economists keep making awful predictions about a housing price crash, and none of them have been worse than one that published last month in Newsweek, which outlines a as it's called, correction worse than 2008 and says national home prices will fall 50% five zero, starting as soon as next year. That's absurd, and I can't believe that a respectable publication would platform a view from an analyst like that, and I'm not going to call out that Doomsayer analyst's name. That's not my style. I'm sure you can find it that crash is about as likely as one social media post changing your political affiliation later today. Look, doomsayers don't care about you. They make dire predictions because they care about them. It elevates their clicks, their followers and their name recognition, and they never hang around to follow up on that prediction, but it harms you, because you miss out on the equity gains, and that's the real damage. In fact, this particular analyst also called for this year to have the second largest home price decline since World War Two. Well, national home prices have only fallen twice in that time period. In fact, going further back. Back to the 1930s Great Depression. They've only fallen twice. Yes, that means home prices have risen every single year since the 1930s except for two periods, a small decline of less than 1% around 1990 and then, of course, the severe downturn from the housing bubble and great recession from 2007 to 2011 or 2012 that's where prices dropped in total, 25 to 26% from peak to trough. Now why do I say that that period around 2008 was not a housing price crash. Well, because it wasn't. Instead, it was a slow bleed. The definition of financial crash is a sudden, sharp and widespread drop in prices. That's the definition. Well that can happen in some other asset classes like stocks or Bitcoin or perhaps even precious metals, but not real estate. It is neither sudden nor sharp. The worst year, 2008 saw home prices drop 12% in that one year and some of the other years bracketing it, home prices fell three to 4% in each of those years. So then during this time period of price attrition, during the global financial crisis, each month, real estate values fell just a few tenths of 1% maybe half of 1% or even one full percent, not a crash, a slow bleed. This means that it took about five years for values to fall, a total of near 25% I mean, that makes it really clear that it's not a crash. And again, this period was about 2007 to 2012 don't get me wrong, it was bad. I was a real estate investor both before and during 2008 but to call it a crash is hyperbolic, and that is because words mean things. I think a lot of media consumers get so conditioned to mass media sensationalism that they've forgotten what a crash even means. At some point, it begins to bend our very lexicon back around 2007 I remember I frequently checked a website called implode meter. Yeah, that's the name of it. It tracks, failing banks. I looked the other day and implodemeter.com is still in existence, even though it's not nearly as spicy as it used to be during the GFC, because lending has been pretty stable for a long time, and loans are well and carefully underwritten. So home prices are unusually stable over time, because, in a sense, housing is not a normal market. It is slow, regulated, credit driven, and it's emotionally sticky, even though rental property is less emotional. Well, the values of one to four unit property are tied to primary residence values, and that's where the emotion exists. So if you put all those together, you get prices that creep upward most years and rarely fall at all. Nationally. The real estate market moves too gradually to be crash susceptible. It is the place for real wealth building values also are not going to double annually if you want to scroll for dopamine hits from the couch. Well, you can do that with a prediction market like call she or in crypto with altcoins, while your real estate keeps leveraging dollars in a stable way in the background. That's how you can think about it. All right, so we've established since the Great Depression, home values have fallen twice and once substantially. Well, right now, home prices are up about 2% year over year. Most places have appreciated, especially the more affordable markets. Not only has home price growth been slow, though, rent growth has been slow as well. Single Family rents are up 1% per totality. Apartment rents are down one to 2% per Zumper. But back to our focus today, forecasting national home prices. Everything we're discussing is nominal price change, meaning not inflation adjusted, and it's single family homes up to fourplexes. Well, as we use context to build up to the big reveal today, where I'll tell you the exact percent that home prices will rise or fall next year. Could 2008 happen again any time soon? Let's isolate that out. It's important to look at history rather than. Having some uninformed hunch in both periods with price attrition around 1990 and 2008 these two falls have some attributes in common. So let's look at that. What led to these rare falls in home prices, irresponsible lending, forced selling, a vacancy issue and overbuilding. All four of those factors were in place during those two periods now leading up to 1990 the irresponsible lending was on the commercial side. That was the savings and loan crisis, but it did trickle into the residential market, and then in 2008 it was on the residential side. But of all four of those factors, none of them are in place today. Zero borrowers are strongly underwritten because they've got those full documentation loans, and virtually no one is forced to sell in a fire sale. In fact, homeowners still have these record equity positions of about 300k fewer than 3% of homeowners have a negative equity position, and there is no vacancy issue. Because, in fact, we've been under building. We'll look at that. So for next year, no substantial price of drawdown is coming. None's expected. We can isolate that out. Since I was investing directly in real estate through 2008 I know what happened is that when people walked away from properties, they did so because the economy got rough, their variable rate mortgages rose, they couldn't make their payments, or they just had no motivation to make their payments because they were underwater and had zero protective equity. In a lot of cases, it's almost impossible for that to happen today, homeowners can make their payments, and they're motivated to do so because they have that erstwhile equity to protect, like I said last week, through the Census Bureau data and realtor.com we know a couple things. Four in 10 homeowners have no mortgage at all. They own their property free and clear. Among the group with mortgages, 70% of borrowers still have a mortgage rate locked in at under 5% and blending those together for you means that then 82% of borrowers either have no mortgage or they've got a rate under 5% this translates to really affordable payments, along with The protective equity, even if inflation heats up again, it still cannot touch a borrower's mortgage payment amount because it is fixed. As we're leading up to the big reveal of next year's number, we're about to look at affordability, supply, demand and the effect of mortgage rates on prices. Of course, that word affordability, that has been the most central word to home buying for a couple years now, affordability will improve in three main ways. If either home prices fall, mortgage rates fall, or wages rise, it takes at least one of those three things, the good news is that this year, wages have been rising faster than both stated inflation and home prices. Wages have been rising close to 4% that looks to continue at least into the early part of next year. Well that improved affordability allows home prices to move up, and it gives room for rents to move up as well. Now when it comes to mortgage rates, if you're new to listening to me, it will be groundbreaking for you to realize that today, mortgage rates are low, and increases to mortgage rates usually lead to increases in home prices, not decreases. If you're new here, both of those facts might leave you saying what I thought it was the opposite. How can that be? I won't spend much time on this because longtime listeners already know these two things, but they do go into the forecast the long term 30 year fixed rate mortgage averages 7.7% per Freddie Mac thirst, that set goes back to 1971 and rates are lower than that now, and mortgage rates have risen 1% or more seven different times since 1994 and home prices increased all Seven times right alongside those rising mortgage rates. In fact, when rates more than doubled in 2022 what happened? Home prices soared to their highest appreciation year in a long time. It reinforced this so, yes, way higher rates equaled way. Higher prices. It's not that one directly causes the other. This is correlation versus causation. It's because rate increases confirm that the economy is doing well. I have discussed that extensively in previous episodes, so mortgage rates actually don't have that much to do with home prices, and that's why it is hardly going into the forecast for next year. I'll tell you what trying to forecast mortgage rates to then use that to predict home prices, that is a fantastic way to waste your time. Now, 1x factor that could make that different for next year is that this President, he imposes his will to make rates low no matter what. So even if the economy is good, which typically leads to higher rates, wholesale push to make rates low, and that's an artificial phenomenon. Wouldn't that make home prices boom if we had a strong economy and low rates? The fact that affordability is still historically low today, though, we appear to be off the bottom. Affordability is still historically low today, that has less to do with mortgage rates than most people think, since, again, rates are low when they're in the low sixes, like they currently are. Instead, affordability is soured, because over the long term, decades, wages haven't kept up with true inflation. That's what's really going on with affordability and what everybody misses, and because affordability is still strained, home prices cannot rise a lot, say 10 or 12% next year. That can't happen on a national basis next year, now, a bill is advancing through Congress now to make housing more affordable. It's got bipartisan support relaxing zoning requirements in such a bill that could help build more homes, but if the government tries to help by making access to loans easier, that is going to lead to even higher prices and really will not help with affordability beyond the short term. In fact, just this month, the Fed has resumed QE quantitative easing. And that effectively means that it is ramping up the number of dollars being printed. And these are just more dollars in existence coming in to chase real estate and every other assets values higher we look at the employment picture. Although unemployment has been ticking up lately, it is still low at under 5% what about housing supply versus demand? And future supply versus demand? Well, this is basic econ and it will totally affect future prices. Actually visited the home of the father of economics, Adam Smith in Scotland this year, the man that nearly invented the supply demand concept starting with supply. I think anyone in real estate knows that generally, over six months of housing supply is too much. Under six months is too little. Six months is sort of that balanced point. What does that really mean? Well, months of supply is how long it would take to sell all the homes currently for sale if no new listings came on the market. All right, that's all that means. Well, currently, that level is 4.2 months that is low, and that puts some upward pressure on prices as well. Another way to think about it is with the active listing count of single family homes and condos. All this means is the number of homes currently for sale and available to buy right now. That's what active listing count means when you see that statistic out there? Well, one and a half to 2 million is the normal level of units needed to adequately house our growing population, for single family homes and condos. Well, that figure bottomed out in 2022 and it's only hovered around one or 1.1 million for a few months now, we are under supplied, and it takes a long time to build our way out of it. Now, apartment buildings are a different story. They are oversupplied, but again, today, we're here focused on the future price direction of one to four unit properties. So that's supply, not as tight as it was, but still on the tight side, and then demand. Where is demand coming from? It comes from us. There's more of us. As our population keeps growing, there is a lot of housing demand coming. Not only is there pent up demand from those trying to afford a home as soon as they can, but more broadly. Demographically, I will point back to that period where there was a surge of us births from 1990 to 2010 there were over 4 million births every single one of those years, births peaked in 2007 if you add 40 years to that, because 40 years is now the average age of the first time homebuyer. That's still a mind blowing figure to me, 40 years the average age of the first time homebuyer. You add that to 2007 that peak birth rate year, and this demand won't even peak until about 2047   Speaker 2  30:36   and this doesn't even include additions from immigration, demand, demand, demand, propping up prices for decades, but for next year, improved affordability, which is expected that boosts the demand for those that have the capacity to pay. Well, considering everything we've covered, I'm about to reveal the number for next year. But first, I mean, gosh, don't you wish everyone actually followed up on their past forecasts, like I'm about to I don't think I've ever seen a price crash predictor follow up, because they're always wrong. Well, what is the track record of get rich, education, home, price appreciation forecasts. It's the fifth straight year I'm doing this, and I always release the forecast in the final days of the year in anticipation of the coming year, just like you and I are doing together now. For 2022 I said that prices would rise nine to 10% the year ended, and they came in at 10% 2023 a lot of people said home prices would fall because they had just seen a terrific run up. I said a price fall would not happen, largely due to that jaw droppingly low supply that we had then. I said zero, there wouldn't be any change. They came in at exactly zero. There was no price change in 2023 for 2024 I forecast 4% they came in at exactly 4% this is all documented. You can go back and listen to those episodes. They're all near year end. So yes, three straight years, I nailed it to the exact percent. How about this year? Just before the year began? Do you remember what my forecast figure was from listening here about a year ago, it was 5% home price appreciation. The year is not over yet, and real estate statistics move pretty slowly. Figures lag, but we pretty much know where it's going to end up. And as we look at this same stat set that I consistently use, which is the NARS national median existing single family home price, it is 2.2% as of late in the year, and it's almost certainly going to end up at 2% appreciation. So I would call that a miss, probably not a terrible call, but far enough apart to call that a miss, 5% forecast versus 2% actual for this year. That's the track record. So before I reveal the number for next year, in the last four I've nailed three of them spot on, and why was appreciation less than I expected for this year? Well, a few reasons. One of them is that inflationary pressure from tariffs was postponed. That Tariff Schedule was changed more times than anyone could have possibly forecast, and affordability stayed stubbornly low too. And here we go for 2026 how much home price appreciation or depreciation do I expect? Well, I haven't said this in any of the previous forecasts, because it's the easiest thing to say, and I often avoid saying the easiest thing, but this is just what I see coming, and that is, I expect more of the same. It's the first time I've said more of the same, which is drumroll here, 2% home price appreciation for next year. No wild figure or hyperbolic material here, in order to attract attention that is my best target for the truth, I'm here to do my best to be accurate and help you make the most informed decision, 2% for next year. So a 500k property today should cost you about 10,000 more dollars next year, and as we know, with a figure like 2% which is less appreciation than the long run historic 5% or so, with this 2% appreciation on new purchases, you leverage that five to one with your 80% loan, and you get a 10% return on your down payment. And you add in the other four ways real estate pays to your 10% leverage appreciation and at historic norms, you can end up with a 29% total ROI. That's realistic. I outlined the math of that in an earlier episode this year when I discussed how real estate pays five ways in a slow market, there you have it, 2% forecast home price appreciation for next year. If you want the charts that support the forecast and more, there's a way for you to get a hold of that, and also the best real estate maps, stories and investment opportunities that you won't see in any headlines. They are all in my free weekly newsletter. The newsletter also gives you access to my free real estate pays five ways. Video, course, that is it. GRE letter.com Get it all at one easy place. Gre letter.com I look forward to talking to you in the new year. I'm Keith Weinhold, don't quit your daydrem   Speaker 3  36:06   nothing on this show should be considered specific, personal or professional advice. Please consult an appropriate tax, legal, real estate, financial or business professional for individualized advice. Opinions of guests are their own. Information is not guaranteed. All investment strategies have the potential for profit or loss. The host is operating on behalf of get rich Education LLC, exclusively.   Keith Weinhold  36:34   The preceding program was brought to you by your home for wealth building, GetRichEducation.com  

Bob uses three recent controversies–Richard Murphy's “Christmas all year” claim, Elon Musk's net worth, and Ron DeSantis on the Great Depression–to clear up common economic fallacies about work, wealth, and wartime spending.The Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree

Bob uses three recent controversies–Richard Murphy's “Christmas all year” claim, Elon Musk's net worth, and Ron DeSantis on the Great Depression–to clear up common economic fallacies about work, wealth, and wartime spending.The Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree

fWotD Episode 3160: Hearst Tower (Manhattan) Welcome to featured Wiki of the Day, your daily dose of knowledge from Wikipedia's finest articles.The featured article for Monday, 29 December 2025, is Hearst Tower (Manhattan).The Hearst Tower is a building at the southwest corner of 57th Street and Eighth Avenue, near Columbus Circle, in the Midtown Manhattan neighborhood of New York City, New York, U. S. It is the world headquarters of media conglomerate Hearst Communications, housing many of the firm's publications and communications companies. The Hearst Tower consists of two sections, with a total height of 597 feet (182 m) and 46 stories. The six lowest stories form the Hearst Magazine Building (also known as the International Magazine Building), designed by Joseph Urban and George B. Post & Sons, which was completed in 1928. Above it is the Hearst Tower addition, designed by Norman Foster and finished in 2006.The building's main entrance is on Eighth Avenue. The original structure is clad with stone and contains six pylons with sculptural groups. The tower section above has a glass-and-metal facade arranged as a diagrid, or diagonal grid, which doubles as its structural system. The original office space in the Hearst Magazine Building was replaced with an atrium during the Hearst Tower's construction. The tower is certified as a green building as part of the Leadership in Energy and Environmental Design (LEED) program.The Hearst Magazine Building's developer William Randolph Hearst acquired the site for a theater in the mid-1920s, in the belief that the area would become the city's next large entertainment district, but changed his plans to construct a magazine headquarters there. The original building was developed as the base for a larger tower, which was postponed because of the Great Depression. A subsequent expansion proposal during the 1940s also failed. The New York City Landmarks Preservation Commission designated the facade of the original building as a city landmark in 1988. After Hearst Communications considered expanding the structure again during the 1980s, the tower stories were developed in the first decade of the 21st century.This recording reflects the Wikipedia text as of 00:06 UTC on Monday, 29 December 2025.For the full current version of the article, see Hearst Tower (Manhattan) on Wikipedia.This podcast uses content from Wikipedia under the Creative Commons Attribution-ShareAlike License.Visit our archives at wikioftheday.com and subscribe to stay updated on new episodes.Follow us on Bluesky at @wikioftheday.com.Also check out Curmudgeon's Corner, a current events podcast.Until next time, I'm generative Kajal.

 This special explores Trump's historic increase in US import duties, which have pushed America to its highest aggregate tariff rate since the Great Depression. What kind of results can we expect? Fareed looks for lessons in history, tracing US tariffs from the 1800s onward and noting some of the pitfalls. Tariffs can foster crony capitalism, Fareed points out—and in illiberal regimes around the world, they've long been part of the autocrat's playbook. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Send us a textPublished in the 21 July 1934 issue of the Saturday Evening Post, "No Flowers" is one of Fitzgerald's Great Depression stories that teaches a lesson about the frugality and humility many mainstream American outlets felt were necessary to survive the economic devastation of the decade. At first glance, the story can seem frivolous or even silly compared to the proletarian fiction pouring from the pens of more radical writers. A young woman, Marjorie, struggles to accept that she lives in "the tin age," as opposed to the golden age her mother, Amanda, enjoyed as a teenager. And what makes it a tin age? Her boyfriend, Billy Johns (no relation to Billy Joel, although we try our best to force one), not only can't afford a corsage for the prom they're scheduled to attend, but due to the austerity dictates of the time, aren't allowed. The story contrasts Marjorie's moral challenges at the dance to those of her mother and her grandmother, Lucy, both of whom have melancholy experiences at their own proms that challenge their ethical sensibilities. As its strangely renunciatory title suggests, "No Flowers" is an anti-romanticist story that explores the struggles of the post-jazz generation to find some purpose in maturation in a world that seems to have lost all sense of fun. It's not a great story by any means, but as we argue, even the most expendable of Fitzgerald stories have interesting ideas.  

A MIDWESTERN CHILDHOOD: ROOTS OF OPTIMISM AND DETACHMENT Colleague Max Boot. Biographer Max Boot discusses Ronald Reagan's difficult childhood in Illinois during the Great Depression. He details how Reagan's alcoholic father, Jack, created family instability, while his mother, Nelly, instilled optimism and a love for performance. Boot also highlights Reagan's formative experience as a lifeguard, shaping his desire to be a hero. NUMBER 1 1916 THE REAGANS

Lloyd Blankfein never chased a master plan. He focused on whatever was right in front of him, and those small decisions carried him from a Brooklyn housing project to leading Goldman Sachs through the worst financial crisis since the Great Depression.In this episode of Big Shot, Harley and David sit down with Lloyd to explore how that path unfolded. He talks about growing up in public housing and sharing a room with his grandmother, then suddenly finding himself at Harvard at 16, arriving in a suit because he had no idea what college culture looked like. He reflects on the dislocation of moving between the projects and the Ivy League and how he learned to navigate both worlds without ever feeling fully at home in either.Lloyd traces his shift from law to commodities, what he absorbed inside J. Aron, and how a crisis inside Goldman in the 1980s reshaped the firm and opened unexpected doors. He also shares what it was like to lead Goldman Sachs through 2008, why Warren Buffett's support mattered at a defining moment, and what it took to keep the firm intact while the global financial system was breaking apart.It is a conversation about chance, focus, resilience, and the surprising places a life can go when you simply take the next step.—In This Episode We Cover:(00:00) Intro(05:15) Lloyd's early days(07:05) How Lloyd graduated early (08:53) How Lloyd ended up at Harvard at 16 (10:56) A glimpse at just how humble his beginnings truly were(13:42) What it was like arriving at Harvard with no roadmap(19:37) Why top public-university talent can match (and sometimes surpass) the Ivies(20:27) What it was like moving between worlds (25:05) Why it took a long time to adjust to the burden of great wealth (27:11) What led Lloyd to law school(28:48) Lloyd's approach of thinking one step ahead(30:35) Why Lloyd quit practicing law (35:16) Lloyd's pivot to finance and initial rejection from Goldman Sachs(41:00) The J. Aron role that pulled Lloyd into Goldman (49:30) Inside the meritocracy of Goldman Sachs (53:08) How Lloyd ended up making partner at Goldman Sachs unexpectedly(1:02:30) Building trust across cultures (1:06:52) What changed after making partner (1:10:10) What sparked Lloyd's retirement and renewed focus on learning(1:14:42) How the 1994 crisis set the stage for Lloyd to become CEO(1:22:00) Steering the firm through the 2008 financial crisis(1:28:22) The deal with Warren Buffett (1:37:58) Risk-taking vs. risk management (1:39:04) How anxiety fuels Lloyd's risk management style (1:42:00) Lloyd's biggest accomplishment at Goldman Sachs (1:46:21) A case for self-acceptance —Where To Find Lloyd Blankfein: • X: https://x.com/lloydblankfeinWhere To Find Big Shot: • Website: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.bigshot.show/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠• YouTube: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.youtube.com/@bigshotpodcast⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  • TikTok: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.tiktok.com/@bigshotshow⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠• Instagram: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://www.instagram.com/bigshotshow/⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠  • Harley Finkelstein: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/harleyf⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ • David Segal: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://twitter.com/tea_maverick⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠• Production and Marketing: ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠https://penname.co⁠

Send us a textOn this episode we discuss one America's great modern singer-songwriters -Robbie Fulks, and his wonderful 2016 album Upland Stories. Produced by the late, great Steve Albini, Upland Stories combines folk and traditional country elements into a rich collection of narrative-driven songs. The album and the fantastic opening track “Alabama at Night” both earned a Grammy nominations, recognition for what is considered by many to be Fulks' finest batch of songs. The album is full of poignant character studies, told with emotional and literary lyrics that are deeply rooted in American storytelling (Let Us Now Praise Famous Men - James Agees' Great Depression account of impoverished tenant farmers is a major touchstone). Like much of Fulks' discography, the album is an eclectic yet highly satisfying mix of tunes, both serious and humorous. Upland Stories explores diverse themes sung by a remarkably rich voice, backed by some topnotch musicianship, and told by a songwriter at the absolute top of his game.  Visit us at www.tappingvinyl.com.

The Rockefeller Center Christmas tree has brought joy and sparkle to Midtown Manhattan since the early 1930s. The annual festivities may seem steady and timeless but this holiday icon actually has a surprisingly dramatic history. Millions tune in each year to watch the tree lighting in a music-filled ceremony on NBC, and tens of thousands more will crowd around the tree's massive branches during the holiday season, adjusting their phones for that perfect holiday selfie. But the Rockefeller Center Christmas Tree is more than just decor. The tree has reflected the mood of the United States itself — through good times and bad. The first tree at this site in 1931 became a symbol of hope during the Great Depression. With the dedication of the first official Christmas tree two years later, the lighting ceremony was considered a stroke of marketing genius for the grand new “city within a city” funded by JD Rockefeller Jr. The tree has also been an enduring television star — from the early years in the 1950s with Howdy Doody to its upgrade to prime time in the 1990s. Join Greg Young for this festive holiday history featuring kaleidoscopic lighting displays, painted branches, whirling snowflakes, reindeer and a very tiny owl. ** This episode originally aired in December 2021. To learn more about listener data and our privacy practices visit: https://www.audacyinc.com/privacy-policy Learn more about your ad choices. Visit https://podcastchoices.com/adchoices

Tis the season for our Christmas bonus episode, featuring returning film historian Vaughn Joy and a discussion of The 12 Dogs of Christmas, a movie about a fictional Maine town that outlawed dogs during the Great Depression.  

This Day in Legal History: Federal Reserve ActOn December 23, 1913, President Woodrow Wilson signed the Federal Reserve Act into law, creating the Federal Reserve System, the central banking system of the United States. The law was the culmination of decades of debate over banking reform, intensified by the financial panic of 1907. The Act aimed to provide the country with a safer, more flexible, and more stable monetary and financial system. It established twelve regional Federal Reserve Banks overseen by a central Board in Washington, D.C., striking a balance between public oversight and private banking interests.The Federal Reserve was given key powers, including the ability to issue Federal Reserve Notes (now the dominant form of U.S. currency), regulate banks, and serve as a lender of last resort during financial crises. This marked a significant shift from the fragmented and largely unregulated banking environment of the 19th century.Critics feared it concentrated too much financial power in the hands of a few, while supporters believed it brought necessary structure and national oversight. Over the decades, the Fed's role expanded, especially during the Great Depression, World War II, and more recently the 2008 financial crisis and COVID-19 pandemic. The creation of the Fed also represented a broader legal evolution in how the federal government engaged with economic policy.A coalition of 21 Democratic-led states and the District of Columbia has filed a lawsuit in federal court in Oregon to prevent the Trump administration from defunding the Consumer Financial Protection Bureau (CFPB). The states argue that the administration's decision to stop requesting funds from the Federal Reserve is unlawful and undermines Congress's constitutional authority. Since returning to office in January, President Trump has taken steps to dismantle the CFPB, including appointing his budget director, Russell Vought, as acting head and halting most agency operations.The CFPB was created in 2011 to safeguard consumers in the financial sector and has recovered over $21 billion for Americans. It is uniquely funded directly by the Federal Reserve rather than through Congressional appropriations. The administration claims the Dodd-Frank Act requires the CFPB's funding to come from the Fed's combined earnings, which they argue are unavailable due to the Fed operating at a loss since 2022.The lawsuit highlights that the CFPB is legally required to process consumer complaints from states, and without funding, it cannot fulfill this duty. Plaintiffs also contend that the administration's move violates the separation of powers by interfering with a congressionally established funding mechanism. Additional lawsuits from a federal employee union and nonprofits are pending in other courts, also seeking to compel the agency to resume funding requests.Democratic-led states sue to block US consumer watchdog's defunding under Trump | ReutersA new push by the Trump administration to challenge corporate diversity, equity, and inclusion (DEI) initiatives through the Equal Employment Opportunity Commission (EEOC) faces steep legal hurdles. Under EEOC Chair Andrea Lucas, the agency is shifting toward what she calls a more “conservative view of civil rights,” focusing on potential discrimination against white men. Lucas has announced plans to investigate corporate DEI policies and pursue enforcement where race- or sex-based decisions are suspected.However, legal experts emphasize that proving such claims is difficult. Discrimination cases require clear evidence that someone was denied a job or benefit specifically because of their race or sex, not just because they were part of a changing applicant pool. Critics argue that the administration's narrative misunderstands the legal and practical realities of workplace diversity, which is often designed to prevent discrimination, not perpetuate it.Despite aggressive executive orders targeting DEI, many companies are maintaining or quietly adjusting their programs to remain compliant. Legal audits and program rebranding are common, especially in industries like automotive. DEI advocates point out that the business case for inclusion remains strong, as companies see diverse teams as essential to long-term success.Ultimately, while the administration's rhetoric may galvanize parts of its base, experts say turning that rhetoric into enforceable legal action will be difficult under existing anti-discrimination laws.Trump's anti-corporate DEI campaign faces high legal hurdles | ReutersMercedes-Benz has agreed to pay $120 million to settle environmental and consumer protection claims brought by multiple U.S. states over its use of emissions-cheating software in certain diesel vehicles. The settlement resolves the remaining U.S. legal actions tied to the broader Dieselgate scandal, which has affected several automakers. The claims focused on Mercedes' BlueTEC diesel models, which were previously marketed as especially clean and advanced.As part of the agreement, Mercedes will continue retrofitting affected vehicles with approved emissions software. These additional updates are expected to cost the company tens of millions more. However, the company stated that its financial results won't be impacted, as it had already set aside sufficient funds to cover the settlement and associated costs.Mercedes reaches $120 million settlement with US states over emissions scandal | ReutersIn my column for Bloomberg this week, I argue that the IRS has a rare opportunity to repair its deeply flawed Voluntary Disclosure Program (VDP), which has become so punitive and complex that it actively discourages taxpayers from coming forward. While the program is supposed to help bring people back into compliance, its current structure demands that taxpayers essentially confess to wrongdoing—sometimes criminal—in a sworn statement, without any assurance the IRS will even consider their disclosure.Recent proposed reforms introduce a more structured penalty system and eliminate the notorious “willfulness checkbox” from Form 14457, a small but significant change that previously forced taxpayers to admit to criminal conduct just to apply. Still, the process remains risky. The IRS continues to require extensive narratives of past noncompliance, and for taxpayers with crypto assets, the demands are even greater: wallet addresses, transaction hashes, and mixer use must all be disclosed upfront. That level of technical and legal exposure could deter even well-meaning taxpayers.I argue the IRS must go further. It should offer flexible payment options—like installment agreements or offers in compromise—and abandon its rigid “pay-in-full” approach. It should also adopt a tiered penalty framework that accounts for intent, scale, and the evolving complexity of assets like cryptocurrency. Finally, the IRS needs to delay the most invasive digital asset reporting until after a taxpayer has been preliminarily accepted into the program, rather than forcing exhaustive disclosures at the outset.Without deeper changes, the VDP risks continuing as a trapdoor rather than a lifeline—one that punishes honesty and rewards silence. The current moment of public review is the best chance to realign the program with its original purpose: restoring compliance, not burying it.The IRS Has a Chance to Fix Its Voluntary Disclosure Program This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit www.minimumcomp.com/subscribe

In this special year-end episode, Joe revisits one of the earliest Content Inc. podcasts, originally recorded in December 2014. It's a deeply personal reflection on growing up around his grandfather's funeral home in Sandusky, Ohio, and the unexpected business and storytelling lessons that came from those years. At the heart of the episode is a simple truth. Great storytelling is not about performance or persuasion. It's about service, empathy, and meaning. Through one powerful story from the Great Depression and a set of foundational content marketing principles, Joe reminds us why helping first and communicating well still matter more than ever. This is a no-video episode, shared intentionally as a reminder of how far the podcast has come and what has remained constant. What You'll Learn in This Episode Why helping others is the foundation of meaningful business How a single story can communicate values better than any strategy deck What great storytelling actually does for trust and connection Why usefulness always beats interruption in marketing The core Content Inc. beliefs that still hold true more than a decade later Key Takeaways Helping people is not separate from business. It is the business. Storytelling works best when it is grounded in empathy and service. Content is more important than the offer. Trust is built over time through consistency, usefulness, and direct communication. Brands can be copied. The way you communicate cannot. Content Inc. Principles Mentioned The content is more important than the offer Customer relationships do not end with the transaction Being the content is more important than surrounding the content Focus on what the customer wants, not just what you have to sell Build your content on owned platforms, not rented land Culture comes before strategy Customers want inspiration, not sales messages About This Episode This episode originally aired on December 16, 2014. It is being reshared to mark the anniversary of Joe's grandfather's passing and to close out the year with a reminder of why Content Inc. exists in the first place. There will be no new episode next week. Content Inc. returns with all-new episodes on the first Monday of 2026. If this episode resonates, share it with one creator who is doing too many things out of habit instead of intention. If you want more insights every Friday morning, subscribe to Joe Pulizzi's Tilt newsletter at https://www.thetilt.com/. Get Joe Pulizzi's new book Burn the Playbook: https://www.joepulizzi.com/books/burn-the-playbook/ Subscribe to Content Inc. here - https://www.contentinc.io/

This week on TrendsTalk, ITR Economist Taylor St. Germain shares a long-term economic outlook that every business leader should be planning for now. With strong GDP and Industrial Production growth expected through 2029, the real risk is not the next few years but how prepared your business will be when the downturn arrives around 2030. Learn which markets are positioned to outperform, why waiting to react is costly, and how today's growth cycle creates rare opportunities for diversification, market share gains, and strategic acquisitions. Are you using the next four years wisely? Click here to buy our webinar, Strategic Shifts for Resiliency in the 2030s Great Depression, here → https://hubs.la/Q03VQwhz0

MeidasTouch host Ben Meiselas reports on the parallels between Donald Trump's policies and the conditions that led to the Great Depression in 1929 and Meiselas interviews renowned writer and author of the new book 1929 Andrew Ross Sorkin. Remember to subscribe to ALL the MeidasTouch Network Podcasts: MeidasTouch: ⁠https://www.meidastouch.com/tag/meidastouch-podcast⁠ Legal AF: ⁠https://www.meidastouch.com/tag/legal-af⁠ MissTrial: ⁠https://meidasnews.com/tag/miss-trial⁠ The PoliticsGirl Podcast: ⁠https://www.meidastouch.com/tag/the-politicsgirl-podcast⁠ Cult Conversations: The Influence Continuum with Dr. Steve Hassan: ⁠https://www.meidastouch.com/tag/the-influence-continuum-with-dr-steven-hassan⁠ Mea Culpa with Michael Cohen: ⁠https://www.meidastouch.com/tag/mea-culpa-with-michael-cohen⁠ The Weekend Show: ⁠https://www.meidastouch.com/tag/the-weekend-show⁠ Burn the Boats: ⁠https://www.meidastouch.com/tag/burn-the-boats⁠ Majority 54: ⁠https://www.meidastouch.com/tag/majority-54⁠ Political Beatdown: ⁠https://www.meidastouch.com/tag/political-beatdown⁠ On Democracy with FP Wellman: ⁠https://www.meidastouch.com/tag/on-democracy-with-fpwellman⁠ Uncovered: ⁠https://www.meidastouch.com/tag/maga-uncovered⁠ Learn more about your ad choices. Visit megaphone.fm/adchoices

December 19, 2025 This week on Fed Watch, ITR Economist and Speaker Lauren Saidel-Baker breaks down the latest U.S. jobs report and what softer headline growth is really signaling beneath the surface. She also examines why inflation remains stubbornly above the Fed's target, what recent CPI data suggests about a turning point ahead, and how rising cost pressures could impact pricing strategies in 2026. Plus, Lauren looks ahead to GDP, business spending, and why uncertainty may finally be easing as we move into the new year. What should business leaders be preparing for now? Click here to buy our webinar, Strategic Shifts for Resiliency in the 2030s Great Depression, here → https://hubs.la/Q03VQwhz0

In 1932, the Australian Army went to war with emus… and lost. At least, that's how the story usually goes. In this redux episode of Man Eaters, we revisit the Great Emu War - one of the internet's favourite historical punchlines - to separate the meme from the truth. What actually happened when soldiers, machine guns, and tens of thousands of migrating birds collided in Western Australia during the Great Depression? Spoiler: it wasn't really a war, nobody surrendered, and the emus weren't tactical geniuses. DONATE = Help Rusty! https://theanimalrescuesite.com/products/eam-support-rustys-recovery-after-gruesome-animal-attack-fundraiser-gtgm   WEBSITE: www.maneaterspod.com PATREON: patreon.com/maneaters EMAIL: maneaterspod@gmail.com FACEBOOK: www.facebook.com/maneaterspod INSTAGRAM: @maneaterspodcast INSTAGRAM: @jimothychaps  

Who doesn't love a good crime story from the 1930s? Add romance, fast cars, and a nation in chaos… and you've got Bonnie and Clyde. In this episode, I share a simplified, learner-friendly version of their true story—set during the Great Depression—and pack it with irregular verbs. You'll hear how newspapers turned two criminals into legends, why the public sympathized with them, and how their story became one of the most famous love-and-crime tales in U.S. history. You'll Learn: The meaning of infamous Why crime increased during the 1930s How newspapers turned Bonnie and Clyde into legends 10 essential irregular verbs in context (+ TONS of others we already learned in other irregular verb episodes) Focus Verbs: steal (stole) · meet (met) · have (had) · drive (drove) · shoot (shot) ·hurt (hurt) · catch (caught) · give (gave) · hide (hid) · forget (forgot) Mentioned in the Episode Get the full transcript, quizzes, worksheets, and videos inside ⁠The Academy Learn more about your ad choices. Visit podcastchoices.com/adchoices

Scott interviews economist Bob Murphy about how the Federal Reserve enables the government to pursue its wars of choice. They also talk about the soundness of Modern Monetary Theory, the prospect of a war with Venezuela, the affordability crisis and more. Discussed on the show: The Creature from Jekyll Island by G. Edward Griffin What Has Government Done to Our Money? by Murray Rothbard Secrets of the Temple: How the Federal Reserve Runs the Country by William Greider Politically Incorrect Guide to the Great Depression and the New Deal by Robert P. Murphy Robert P. Murphy is a Senior Fellow with the Mises Institute. He is the author of numerous books: Contra Krugman: Smashing the Errors of America's Most Famous Keynesian; Chaos Theory; Lessons for the Young Economist; Choice: Cooperation, Enterprise, and Human Action; The Politically Incorrect Guide to Capitalism; Understanding Bitcoin (with Silas Barta), among others. He is also host of The Human Action Podcast and The Bob Murphy Show. Follow him on X @BobMurphyEcon Audio cleaned up with the Podsworth app:  https://podsworth.com Use code HORTON50 for 50% off your first order at Podsworth.com to clean up your voice recordings, sound like a pro, and also support the Scott Horton Show! For more on Scott's work: Check out The Libertarian Institute:  https://www.libertarianinstitute.org Check out Scott's other show, Provoked, with Darryl Cooper https://youtube.com/@Provoked_Show Read Scott's books: Provoked: How Washington Started the New Cold War with Russia and the Catastrophe in Ukraine https://amzn.to/47jMtg7 (The audiobook of Provoked is being published in sections at https://scotthortonshow.com) Enough Already: Time to End the War on Terrorism: https://amzn.to/3tgMCdw Fool's Errand: Time to End the War in Afghanistan https://amzn.to/3HRufs0 Follow Scott on X @scotthortonshow And check out Scott's full interview archives: https://scotthorton.org/all-interviews This episode of the Scott Horton Show is sponsored by: Roberts and Roberts Brokerage Incorporated https://rrbi.co Moon Does Artisan Coffee https://scotthorton.org/coffee; Tom Woods' Liberty Classroom https://www.libertyclassroom.com/dap/a/?a=1616 and Dissident Media https://dissidentmedia.com You can also support Scott's work by making a one-time or recurring donation at https://scotthorton.org/donate/https://scotthortonshow.com or https://patreon.com/scotthortonshow Learn more about your ad choices. Visit megaphone.fm/adchoices

 Download Audio. Scott interviews economist Bob Murphy about how the Federal Reserve enables the government to pursue its wars of choice. They also talk about the soundness of Modern Monetary Theory, the prospect of a war with Venezuela, the affordability crisis and more. Discussed on the show: The Creature from Jekyll Island by G. Edward Griffin What Has Government Done to Our Money? by Murray Rothbard Secrets of the Temple: How the Federal Reserve Runs the Country by William Greider Politically Incorrect Guide to the Great Depression and the New Deal by Robert P. Murphy Robert P. Murphy is a Senior Fellow with the Mises Institute. He is the author of numerous books: Contra Krugman: Smashing the Errors of America's Most Famous Keynesian; Chaos Theory; Lessons for the Young Economist; Choice: Cooperation, Enterprise, and Human Action; The Politically Incorrect Guide to Capitalism; Understanding Bitcoin (with Silas Barta), among others. He is also host of The Human Action Podcast and The Bob Murphy Show. Follow him on X @BobMurphyEcon Audio cleaned up with the Podsworth app: https://podsworth.com Use code HORTON50 for 50% off your first order at Podsworth.com to clean up your voice recordings, sound like a pro, and also support the Scott Horton Show! For more on Scott's work: Check out The Libertarian Institute: https://www.libertarianinstitute.org Check out Scott's other show, Provoked, with Darryl Cooper https://youtube.com/@Provoked_Show Read Scott's books: Provoked: How Washington Started the New Cold War with Russia and the Catastrophe in Ukraine https://amzn.to/47jMtg7 (The audiobook of Provoked is being published in sections at https://scotthortonshow.com) Enough Already: Time to End the War on Terrorism: https://amzn.to/3tgMCdw Fool's Errand: Time to End the War in Afghanistan https://amzn.to/3HRufs0 Follow Scott on X @scotthortonshow And check out Scott's full interview archives: https://scotthorton.org/all-interviews This episode of the Scott Horton Show is sponsored by: Roberts and Roberts Brokerage Incorporated https://rrbi.co Moon Does Artisan Coffee https://scotthorton.org/coffee; Tom Woods' Liberty Classroom https://www.libertyclassroom.com/dap/a/?a=1616 and Dissident Media https://dissidentmedia.com You can also support Scott's work by making a one-time or recurring donation at https://scotthorton.org/donate/https://scotthortonshow.com or https://patreon.com/scotthortonshow

Might 2025 turn out to be the new 1925? In other words, are we currently in the Roaring Twenties and on the brink of another Great Depression? This historical analogy, according to the Financial Times' chief economics commentator Martin Wolf, isn't entirely fanciful. Economic history doesn't exactly repeat itself, Wolf acknowledges, but it has a rhythmic quality. We are living, he suggests, in a “slow-motion” interwar moment. And while FDR is Donald Trump's mirror image, perhaps the most similar President to Trump was Warren Harding whose administration was deeply tarnished by the Teapot Dome scandal. Crypto, Wolf suggests, might turn out to be Trump's Teapot Dome. And 2026, Martin Wolf warns, might turn out to be significantly more turbulent for both the US and global economies than 2025.Keen On America is a reader-supported publication. To receive new posts and support my work, consider becoming a free or paid subscriber. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit keenon.substack.com/subscribe

Michigan Weather and Women: Part 1 Love, bastards, and what we leave behind. Based on a post by CleverGenericName, in 4 parts. Listen to the Podcast at Connected. The Plumber, The Painter, and the Wind off the Lake Prologue I have never been much for following instructions or doing what I'm told. In eighth grade, we were assigned to make a volcano in science class. I figured that if the eruption looked good with a couple of tablespoons of baking soda, then it would look even better with the whole container! And what better place for a natural disaster than the teacher's desk at the front of the class. I was right; the whole container of baking soda produced an impressive explosion. What I didn't count on, however, was it producing a week-long suspension from school and a beating from my mother. In high school, we had to take an art class to graduate. Our teacher loved still life drawing and would ramble endlessly about how it revealed the beauty that is in the everyday objects that surround us. I guess he wanted us to reveal the beauty in the bowl of fruit that he had put in the middle of the classroom, but the most beautiful things that I could see were Brittany Johnson's D-cups which filled out her sweater gloriously. At the end of the class, there were 29 drawings of a bowl of fruit and one drawing of a beautiful girl's smile (amongst other details). Although I was suspended for two days, I got a date with Brittany who loved my drawing, so I feel like I came out ahead on that one. In my last year of school, the final mathematics exam asked the following question: Determine the points of intersection between the following parabolas and lines. Illustrate fully. While the other students slaved away to solve the listed problems in the allotted time, I fully illustrated a drawing of our math teacher, Mr. Aaronson, dancing a slow waltz in a field of sunflowers with Mrs. Stevens, the geography teacher. It was the worst-kept secret in the school that our two shyest teachers had massive crushes on each other, and after four years of watching them pine away, I thought they could use a little push. I failed the test, but Mr. Aaronson showed my drawing to Mrs. Stevens during a particularly dull staff meeting, and when it made her blush and smile, he finally got up the courage to ask her out. They are now married and have a little girl who is as cute as a button. At the end of the year, Mr. Aaronson asked me if I planned to pursue math in the future, and when I assured him that I did not, he gave me a passing grade. So, what was my problem, you might ask? Was I just one of those kids who didn't give a shit and was destined for mediocrity or failure in life? Like many things, the answer is more complicated than it might first appear, but I am getting ahead of myself. Our story starts on an unusually cold and blustery afternoon in late October, on the north-eastern shore of Lake Michigan about a half hour's drive north of Petoskey, just outside a village called Good Hart. Chapter 1. It had been a busy day. The perfect storm of an early season snap freeze, strong winds, and lake-effect snow meant that there was a couple of inches of snow on the still soggy ground, along with a number of leaky or burst pipes, malfunctioning valves, and boiler issues as people cranked their heating systems up to full for the first time that year. As a plumber, though, I didn't mind. It just meant more work for me, which was always a good thing. At only 25 years of age, and despite being a master plumber, I was generally the last choice for folks to call, even in an emergency. Anyone with money chose one of the larger and more established plumbing contractors, leaving me with the jobs that they didn't feel were worth their time or effort. That's how I found myself pulling into the laneway of an older house, just off Lamkin Road down by the lake, late that Friday afternoon. It was my last job of the day, but I would be working over the weekend to catch up on my backlog, so I wanted to get it done. The house looked like it hadn't been updated since it was built, likely in the late fifties or early sixties, other than a couple of coats of paint and a new roof when the original finally gave up the ghost. The front gardens were neatly tended, however, and the property itself was stunning, with panoramic views in three directions out over the lake. The sun was just beginning to dip toward the western horizon as I drove up, so the trees cast long shadows across the laneway. The house was owned by Mrs. Wilma C. Anderson, who had called me earlier in the day to say that some of her radiators weren't working and that her boiler was making one hell of a racket when she turned it on. I told her to shut the system down and that I would look at it by the end of the day. She sounded quite elderly, and I didn't like the idea of her going without heat for a night during a cold snap. I rang the doorbell and waited until a tiny wisp of a woman answered. She couldn't have been more than five feet tall and looked older than the hills, but her face was full of life, and her eyes had a twinkle that spoke of humor and mischief. "Hi, Mrs. Anderson, I'm Davis Crawford. You called earlier about some issues with your boiler and heating system. How can I help?" Mrs. Anderson gave me an appraising look. "I wasn't expecting you to be such a handsome young man. If I were fifty years younger, I would tell you exactly how you could help me, and then I'd teach you a trick or two I learned over the years. But I am too old for that kind of foolishness these days, so I will just have to make use of your plumbing expertise instead. And please, call me Wilma." I couldn't help but laugh and blush at Wilma's surprisingly raunchy sense of humor. I liked her immediately. "Let's try that again. What seems to be the problem?" "Well, the biggest problem is that I am 91 years old and dying of cancer. The doctors give me less than a year to live. But aside from that, I really can't complain. I have had a good run of it." I cocked my head to one side and gave her a bemused look. "Oh, you were wondering what the problem is with my heating system. Well, I turned it on this morning when I got up, and the boiler sounded like there was someone trapped inside of it trying to hammer their way out. There was a worrisome hissing from some of the radiators, as well, and they weren't heating up worth a damn. "My husband, Phillip, used to take care of those things for us, but he has been gone for almost five years now, so I hate to think what you will find when you look around." "I'm sure I can help you, Mrs. Anderson,;" "Wilma, please." "Sorry, Wilma. Why don't you show me to the basement, and I will try to figure out what's wrong. Then I can get started on fixing it." On the way to the basement stairs, Wilma led me through her crowded but orderly living room. I couldn't help but notice the paintings on just about every surface of its walls. "You have a real eye for art, Wilma. Those paintings are beautiful." Wilma smiled wistfully at me and got a faraway look in her eyes as she replied. "Phillip and I were artists. I guess I still am, but I haven't felt much like painting since he passed on. Phillip painted portraits. He made a surprisingly good living at it; you would be amazed at what rich people will pay to see their lives immortalized in oil on canvas. I never had the knack. Phillip could make even the most corpulent and corrupt industrialist appear regal and wise. I could only ever capture what I actually saw in them, and I quickly discovered that they did not enjoy, or pay for, that kind of introspection. "So, I painted landscapes, and there is always a market for those. But I kept some of my favorite pieces, over the years, as you can see." As Wilma spoke, I took a closer look at the paintings. One, in particular, was striking; a portrait of a beautiful young woman, in her late teens or early twenties, with a stethoscope around her neck and her blonde hair pulled back into a tight ponytail. She was wearing a loose hoodie and was curled up in an Adirondack chair, reading a book. It was not what you would expect from a formal portrait, but it seemed to capture her essence in a way that no photograph could match. I must have stopped moving as I was drawn into the image, so Wilma gave me a minute before she continued. "That's the last painting that Phillip worked on before he passed. He didn't get the chance to finish it, but I still think it's his finest work." I couldn't help but agree. "Who's the model? She's beautiful." "That's my granddaughter, Erin. You can't tell from the portrait, but she's a real firecracker. As a grandparent, you're not supposed to play favorites, but she was very special to Phillip, and it hit her hard when he passed. There is more love in that one painting than in all the other portraits that he painted over his lifetime. Except for his first, of course, of me." "Where are Phillips' other works? Surely, they weren't all commissions that are now locked away in some dusty millionaire's palace." Wilma's expression turned bleak as she contemplated her response. "All of his other paintings were sold after he died. The kids said they would fetch a better price while there was an upswing of interest in his work after his death, so they insisted that they all go to auction as quickly as possible. They were probably right, I guess, although I loved his art more than I needed the money. But how do you argue with your kids when they have just lost their father?" "Do any of your children live nearby?" "They all moved far away. Phillip and I chose a wonderful spot to live and make our art, but a challenging place to raise a family. It's not so bad now, what with the internet, highways, and the like, but when we first moved here sixty-some years ago, it was very isolated. We were young and selfish, and our selfishness cost us dearly. "We thought that our children would grow to love this area over time, like we did. But they never did, and they left as soon as they could get away. My daughter, Samantha, is a retired lawyer and she and her third husband split their time between their loft in Manhattan and their beach house in the Bahamas. My son, Robert, is an oil executive down in Texas. Neither of them has been here in more than a decade, except for Phillip's funeral. "My baby, Max, passed away more than twenty years ago now of cancer. Erin is his granddaughter. She is a pediatrician, and she splits her time between the hospital in Petoskey and the children's hospital down in Grand Rapids. She comes to see me when she can, but she is very busy. My other relatives all live busy lives far away from here. We chose to live here, though, so I can't be too upset that the rest of the family chose to live far away. "But enough about me. What about you, Mr. Crawford? Do you have any children?" "It's just me and my siblings, I'm afraid, and it's been that way for quite some time. My oldest sister, Alison, is 20, and she goes to college at North Central Michigan, in Petoskey. She is planning to become a nurse practitioner. The rest of the gang still lives at home with me. Sharon is 17 now, so she kind of runs the show while I am working; Mary is 15 but going on 30, if you know what I mean; and Lane is the baby of the family at 12." "Where are your parents?" "I don't honestly know. We each have a different father, or at least we think we do. Sharon, Lane, and I have no idea who our fathers are, so there's a chance that we might be full siblings, but I doubt it. My mother never kept the same man around for long. Alison's father has been in and out of jail since before she was born and is currently serving a stint in federal prison. But Mary has it the worst of all of us. "My mother met Mary's dad on a weekend bender in Vegas, and he is a pretty big deal. Rich, famous, the kind of guy you see on TV and the cover of magazines. A real family man, except when it comes to Mary, whom he refuses to even acknowledge. He bought my mom's silence with a lump sum payment and a non-disclosure agreement. That money was supposed to be put in a trust for Mary, but my mom snorted and injected it all in less than a year. Mary has written to her father dozens of times and reached out to him on social media countless more, but he wants nothing to do with his bastard daughter. "As for my mom, she went away for the weekend almost seven years ago now and left me in charge. And I am still in charge, I guess. So, no time for dating or romance for me, and I think that I will be just about done with raising kids by the time that Lane goes off to college." Wilma gave me a look filled with more empathy than I had felt in a long time, maybe ever. "Anyway, I should take a look at your boiler and see what I can do about getting you some heat." I would have called the boiler in Wilma's basement old, but that wouldn't have done it justice. Frankly, it wouldn't have seemed out of place in a museum of heating and plumbing, and it was hanging on to life by the barest of threads. With only a year to live, however, I wasn't going to recommend to Wilma that she replace the whole system with something more modern and efficient. "I think I can fix your boiler so that it will hold on for another year or two, and I can patch a couple of leaks in the lines to the main radiators as well. One line to a radiator at the back of the house is completely shot, so I will shut that one off and be back to replace it later this week." "What's all that going to cost?" "It's free of charge, Ma'am. You've got enough to look after with your health and all, without having to worry about your heating system. I never had a grandma to spoil, at least not one that I know of, so it would be my pleasure to do this for you." "Please, it's Wilma. And it's a grandmother's prerogative to spoil her grandchildren, and not the other way around. But your kindness is mighty appreciated, Davis." It took me a couple of hours to shore up the boiler and repair the lines that were still in reasonable condition before I was finished for the day. As I got ready to leave, I found Wilma sitting alone in the living room reading an old paperback. "I'll call you later this week, once the replacement line for your radiator comes in." Wilma got a mischievous smile on her face. "Why, Davis, are you getting fresh with me?" "If I were older and more experienced, I would in an instant. But I hardly think I can compete with the memory of your Phillip." "Too true, too true. Alright young man, well thank you for taking the time to look after a foolish old woman on a cold October night." "I hardly think you're foolish, Wilma, but it's been my pleasure." I didn't get home from Wilma's until well after nine that night, and by the time I pulled into our gravel driveway, I was beat. The dilapidated old yard light mounted on the roof of the garage shone weakly down on the sloppy mix of gravel and mud that was our yard, and I could hear the excited barks of Munchkin, our rescue puppy. He was a mix of German Shepherd and Cane Corso, with some variety of northern dog thrown in, and he was mighty pleased to see me. I'm glad that someone was. I came into our small three-bedroom rental to find Sharon and Lane sitting at the dining room table working on his math homework. I wish that they reacted like Munchkin when they saw me, but Lane just grunted a hello, while Sharon looked up at me with a mixture of sadness and worry. "Mary is out with the McDougal brothers again. They showed up here a half hour ago, I told her not to go with them, but she wouldn't listen." "The McDougal brothers are assholes," was Lane's addition to the conversation, without even looking up from the table. He wasn't wrong. The oldest McDougall brother, Calum, was a couple of years ahead of me at school and was a bully and a braggart. Two of his three brothers had followed in his esteemed footsteps, while the jury was still out on the youngest, James. "I'm going to go get her. Next time that those boys turn up in our yard, let Munchkin lose on them." "Alright, dinner will be in the oven when you get back. Given 'em hell, Bro." The McDougal brothers lived just outside Pellston in the closest thing to a mansion that you could find in our neck of the woods. Their family owned the largest construction and maintenance company in the area and had most of the Public Works contracts sown up, along with a not inconsiderable portion of the private construction in our region as well. Their parents spent most of their time in Sarasota, Florida, though, and the brothers had free rein while they were gone. As I drove up their long, paved driveway, automatic floodlights came on, illuminating the ostentatious columns that flanked the entrance to their house. I parked in front of the nearest bay of their four-car attached garage while noting that there was another three-car garage further off to the right. I idly wondered who got to park in which garage. Rich people problems, I guess. I walked to the front door and let myself in. From the foyer, I could hear the loud thump of music coming from the back of the house, so I headed that way. As I passed through the kitchen, I nearly bumped into James, who was holding a couple of empty serving bowls. He stopped dead when he saw me, looking nervous, clearly not expecting anyone else to be in their house. Certainly not me, anyway. "Hey James, I am here to get my sister. Where is she?" He hesitated a moment before pointing toward the back of the house. "She's in the game room playing pool with the guys. We didn't force her to come here or anything, if that's what you're worried about." "Maybe that's true, James. But you know she is still a minor, and I am her guardian, so I'm going to fetch her and bring her home." James didn't like the sound of that, but I turned my back on him and followed the music to a large, sunken room at the back of the house, which had an expensive-looking pool table in the middle. The remaining McDougal brothers were either playing pool or smoking up on one of the couches that were scattered around the outside of the room. Calum was presiding over the festivities, while the Pistons game was playing on a wall-mounted TV that was bigger than some movie screens. Despite his family's blue-collar roots, Calum looked like an overgrown frat boy, with his preppy clothes and fifty-dollar haircut. Mary was sitting in the middle of one of the couches, with a McDougal brother on one side and one of their hangers-on on the other. She looked somewhere between uncomfortable and scared, but she gave me a defiant scowl. The music stopped, and everyone looked to Calum and then back at me. There was a nervous tension in the air. "Hi Calum, I'm here for my sister." Calum was now in a bit of a spot; he couldn't just let me come into his home and give him orders without losing face with his brothers and their cronies. But he also knew, or at least suspected, that my sister was underage. And then there was always the Pipe Wrench Incident. That always made people nervous to be around me. "That's not my problem. She told my brother that she wanted to party, so she's here to party. No one forced her to come, and she seems to be having a good time." I wondered if all of Calum's dates looked as scared and uncomfortable as Mary did at that moment when they were having a 'good time'. "Well, since she is still a minor and I'm her guardian, it's a bit of a problem. Or it could be. But I don't want to put a damper on your evening, so I'll just bring Mary home with me and we'll call it a night." Calum looked toward James who had just come back into the room with bowls now filled with potato chips. "Is that true, Limp dick? Did you bring an underage girl home to party with us?" James began to sputter before Calum shook his head in disgust. He pointed over at Mary. "Get the fuck out of here, and don't come back until you're sixteen," he said before turning back to me. "And you. Just get the fuck out of our house." It was a silent drive home. Mary refused to even look at me, staring out the window instead. When we pulled into our yard, Munchkin came running up to greet us, and Mary finally spoke. "You didn't need to embarrass me like that. I'm old enough to make my own choices, you know." "The law says you're still a minor. And you'll always be my sister. Those guys are no good, Mary. You know that." "James is different. He isn't like the rest of them." "Maybe that's true, or maybe not. But you don't hang out in a nest of rattlesnakes, just because there is a garter snake in there with them that you think is cute." After a pause and some continued barking from Munchkin, Mary finally looked over at me. "You're not my dad, you know. You can't tell me what to do." And there it was. It always came down to the same thing with Mary; her father's rejection of her. Over the years, it had undermined her self-esteem and destroyed her self-worth to the point where I wondered if they would ever recover. Unfortunately, I was just smart enough to see the problem, but I had no idea how to fix it. A brother's love can only go so far, I guess. "I know, Mary. I know. But I love you, and I am so proud of you, and I just wish that was enough." We sat in silence for another minute before she replied. "I wish it was too." Chapter 2. It took a couple of days for Mrs. Anderson's new radiator line to arrive, and I gave her a call when I went to pick it up. "Hi, Mrs. And; Wilma. I was just picking up the replacement line for your radiator, and I was wondering if you needed anything else from town, while I'm here. I was going to come by and install the line later this afternoon if that works for you." "That's very kind of you, Davis. Would you mind picking up a few groceries for me? I can send the store a list, so they will be ready for you when you get there." A couple of my calls that day took longer than expected, so it was late in the afternoon again by the time I made it to Wilma's place. The early season snow had mostly melted away, and her yard was now a combination of gravel and thick soupy mud that could swallow a tire as easily as it could swallow a boot. "Thank you for picking the groceries up for me, you're too kind." "It was no trouble at all, especially since I was coming out this way anyway. If you don't mind me asking, how do you usually get them?" "I used to have a young man up the way who would help me with groceries and yard work, and other small things, but now I am pretty much on my own." "What happened to him? Did he move away?" "No, he still lives in the same place that he always has, but I am pretty sure that my family paid him more not to help me than I was paying for his assistance." "What? That seems like a crappy thing for them to do to you." Wilma gave a resigned sigh and then offered me a coffee while she told me her story. "I think I told you the last time you were here, that most of my family has moved on from this place, except my granddaughter Erin. The rest of them already have an agreement in place with a developer, the McDougals, to turn this property into a high-end resort for the Fudgies, so they have someplace to spend their money after visiting Mackinac Island." "Fudgies," was what the locals called the tourists from down south who descended on the upper peninsula in the summer. "If you don't mind me asking, just how much land do you own?" "Well, Phillip and I didn't have much to spend our money on over the years, so we bought up many of the nearby properties when they went up for sale. We ended up with at least a quarter mile of land that fronts onto the lake, without even really trying." I let out a low whistle. "That must be worth a small fortune. I can understand your family's interest." "At first, they didn't care if I stayed in the house after Phillip died. They figured that I would follow soon enough. After a few years, however, they started to get impatient, and it's fair to say that they are now actively encouraging me to leave, by foot, by car, or in a box. They have generously offered to put me out to pasture in a warehouse for the old and infirm, though, to await my impending doom. "With my cancer, their wish is finally going to come true. By this time next year, I will be sipping coffee with Phillip in whatever afterlife we atheists get to enjoy. Actually, who am I kidding? If there is an afterlife for Phillip and me, the first thing I'm going to do when I get there is get on my knees, undo his belt buckle, and then show him just how much I've missed him these past five years. Wilma looked a bit startled as if she had just remembered that I was still there. "I'm sorry, Davis. You probably didn't need to hear that last part. I just miss him so much. I still see him in the trees and along the shore, and I sometimes hear his voice in the wind off the lake." "It's all good, Wilma. I just hope that my brother and sisters get to experience the kind of love that you and Phillip had someday." "What about you, Davis? Don't you deserve to experience that kind of love as well?" "Maybe I deserve it, Wilma, but I don't think I am going to find it. It's been tough; real tough, looking after my family all these years. I have done things that I am not proud of, but that needed to be done. I don't regret them; I would do anything to protect the people I love. But I doubt that anyone would be able to love me, once they found out what I've done." "I think you are selling yourself short, Davis. We are all artists, and we are all worthy of love." With that, Wilma offered to top up my coffee before I started replacing the broken line. As the evening's shadows deepened, I saw her watching me with compassion and concern in her eyes. Once I was finished, I felt her hand on my shoulder, and she gave it an empathetic squeeze. "A penny for your thoughts?" I stopped what I was doing and turned to look at her. "It's my sister, Mary. I am losing her. She is so hurt and angry that she is beginning to make bad choices, and I don't know how to help her. I've tried to be her brother, parent, and friend, but I'm failing at all three." Wilma offered no judgment, good or bad. She just listened, and when I finished, she spoke. "Bring her over this Sunday around noon. Tell her to wear some old clothes that she doesn't mind getting dirty. You can come too if you would like and bring your little brother to do some fishing, but Mary will be spending her time with me." It wasn't easy convincing Mary to come to Wilma's. If you have spent time dealing with teenage girls, you know that they can be as stubborn as late-season ice on the lake. In the end, I resorted to threats and bribery to get her onboard, but she assured me that she would hate every minute she was there. Lane came with us as well, with the promise that we could spend the afternoon fishing off the end of Wilma's dock. By the time we arrived, Mary was sullenly glued to the passenger seat and wouldn't look up from her phone. Wilma waited a few minutes for Mary, but she stubbornly refused to leave the truck. Eventually, Wilma pulled on her rubber boots and walked over to the truck. She looked up at Mary and started speaking. "There are three things that I know are true. "The first, I've already shared with your brother. We are all artists because we are all worthy of love. But many of us lose our way. We are hurt and abandoned, and we are buried in shame. I was like that for many years. But my husband, Phillip, found me and taught me what it is to be loved. Not just the physical act; although he taught me about that as well; but the certainty that I was seen, known, and cherished. He showed me that I am an artist. You are an artist too. "Second, I am old, I have cancer, and I will die. Not today, and hopefully not tomorrow, but soon. And that is okay; we all die. I have lived a good life. And when I do, I hope that Phillip will be waiting for me with a glass of chilled white wine and his beautiful smile. My art may linger for a while once I am gone but, eventually, it too will be lost. "Third, the world is full of bastards. Your brother tells me that you and he are both bastards. I will tell you a secret that I have shared with very few people; I am a bastard too. "My mother was beautiful but poor. Her parents lost everything during the Great Depression, and she worked as a housemaid for a rich and powerful man to support her family. When she fell pregnant, he put her out on the street and refused to recognize her child, his daughter; me. Because of his rejection, I spent too many years steeped in shame and self-loathing. But eventually, I learned a hard truth; my father was a bastard by choice, while I was a bastard by birth. And those of us who are bastards by birth must never let the bastards by choice win. "Come inside when you're ready. I'm too old and it's too cold for me to stand here waiting for you." With that, Wilma turned and slowly made her way back to the house. Surprisingly, after a minute, Mary followed. When they reached the door, Wilma turned to look back at me. "It's time for you boys to go fishing. There is a warm breeze off the lake that will bring you good luck." Lane and I made our way down the hill to the dock in silence, our fishing rods, ice chest, and tackle box in hand. Unlike a seasonal dock that would be taken out of the lake each fall, Wilma's dock could be used year-round and was built with heavy timbers and steel bracing, so it could withstand the crushing force of the winter's ice. When we reached the dock, we felt the warm wind that Wilma had promised, and we chose our lures and began to cast. After a half hour of fishing, Lane broke the silence. "Do you think it's my fault?" "Do I think what's your fault, Bud?" "That mom left us. That she never came back. Do you think it's my fault?" I sighed as I thought about my answer. "No. It's not your fault. It's no one's fault, really, maybe not even hers. It's funny though, she brought some amazing people into this world. I wish she could have seen how incredible you and your sisters have turned out. But she made her choice, and that's on her, not you." Lane thought about my answer before he continued. "But you would be better off without me. Sharon would have more time to study for the scholarship she will need to get away from here. I try to be nice to Mary, to make her feel better, but I just seem to make things worse for her as well. And I see how hard you work to keep our family together. I feel like you would all be better off without me. If I weren't here, maybe Mom would come back home." I took a deep breath and tried to push down the anger that threatened to overwhelm me; anger at my mother for abandoning us, anger at myself for never being enough, and anger at a world that would leave my brother feeling like it would be better off if he didn't exist. I felt the wind off the lake as it blew across my face, drying my unshed tears before they were formed. As I was wondering how to unbreak my brother's heart, a particularly strong gust of wind blew through and Lane's fishing rod bent into a deep arc, the tip dancing wildly as a fish fought against the line. "Dad! Help;" The drag clicked furiously as the fish pulled line, as Lane fought to keep his rod tip up. I quickly set my rod aside and braced him, my hands held loosely beside his as he fought to reel in his catch. We worked together for what seemed like an eternity before he finally fought his fish to the side of the dock. I grabbed the net and saw that he had hooked a steelhead trout that was easily two feet long and must have weighed at least eight pounds if not more. It was a wonder the drag held steady, and his line didn't break during the fight. As I scooped up his catch, the steelhead's silver sides shimmered like polished chrome in the fading light, and it was so big that it took up over half the ice chest I had brought along to store our catch. Lane was flushed with excitement at landing such an impressive fish, and I was so proud of him that my heart almost ached. "Nice work, Son." He just looked up at me for a moment before throwing his arms around me in a hug. In the time since our mother left, he had never called me by anything other than my name. I never tried to be his dad; I didn't think I was qualified, but I guess that all of us need someone in our lives who will love us without conditions or end. "Never think that you're a burden on me or the family. Maybe you need a bit more from us right now than you can give back, but that's alright. Because sixty years from now, when I am old and can't wipe my ass anymore, you are going to be paying me back in spades, alright?" With that, we went back to fishing in companionable silence. I pulled in a few smaller ones, but nothing to match Lane's steelhead. A few hours later, the wind had picked up and it was getting colder, so we packed up our equipment and made our way back toward the house. Halfway down the dock, however, a huge gust of wind swept through, and I heard a cry followed by a loud splash. Turning back, I saw that Lane's foot had slipped through a broken slat, and he had fallen off the dock. Without thinking, I dropped the ice box and rods and jumped into the water to help him. When I got him to shore, he couldn't put any weight on his ankle, and any efforts to do so were met with cries of pain. I quickly collected our discarded fishing gear and set it to one side, before helping him to slowly make his way back up the hill. The November chill quickly took hold of us as we walked, plastering our damp clothing to our skin, and we were shivering uncontrollably by the time we reached the house. I knocked but it took a minute for Wilma and Mary to come out from the studio at the back of the house. "I am sorry to cut things short, but Lane had an accident down at the dock and he sprained or maybe even broke his ankle. I am going to have to take him to the hospital in Petoskey to get it looked at before it swells up any further." Wilma looked at me with concern. "Maybe you should hold off at least for a little while. My granddaughter, Erin, the pediatrician, is coming for dinner tonight and should be here any minute. Why don't we let her take a look at it before you head into town? And let's get you out of those clothes; you must be freezing. I still have some of Phillip's things in the closet that might fit you." A few minutes later, I had changed into a pair of comfortable but slightly musty-smelling pants, with a warm sweater over a well-worn collared shirt. I was both taller and wider than Phillip had been, at least in the twilight of his years, so the pants were a bit short, while the sweater was tight across my shoulders. While I changed, Mary and Wilma had set Lane up on the couch with his ankle elevated on some pillows. I helped him change out of his wet clothing and into an old sweatshirt and shorts that fit over his swollen ankle. Once Lane was settled, Wilma and I talked quietly in the kitchen. "It's getting late, and you must be getting hungry, but I don't think I have enough to feed everyone." I thought for a moment. "We may be in luck. Lane caught the biggest steelhead I have ever seen earlier this afternoon, but I left it down by the dock after the accident. If you have a few potatoes and maybe a veg or two, I am sure I can whip something up that would feed us all." Wilma looked at me with a sly smile. "He cooks, he plumbs, and he cares for his family, all while cutting a dashing figure in my late husband's favorite sweater. You, Mr. Crawford, are a catch." "I am not sure about that, Wilma," I replied with a laugh, "But either way, this catch had better go and get our earlier catch, so I can get started on dinner." It took me almost half an hour to collect our fishing gear and bring it back up to the truck. By the time I was done, an older SUV was parked behind my truck, which meant that Erin had arrived. After I loaded the gear, I used the fishing knife and stained plastic cutting board that I kept in a bin under the back seat to clean and filet the steelhead before heading inside. From the doorway, I could see a head of sandy-blonde hair pulled back into a loose ponytail sticking up from the far side of the couch, and I heard a calm and melodic voice talking to Lane while Wilma and Mary looked on. I was so lost in that voice that I almost jumped when the latch on the door caught behind me. The head of sandy-blonde hair looked up at the sound, revealing a pair of amber, almost golden eyes. "You must be the father," said that same melodic voice, as those eyes bore their way into my soul. "It's Davis Crawford, and I'm the older brother." "Erin Anderson, nice to meet you. Can you get hold of your parents? We might need to take Lane to the hospital for some X-rays." "No," I replied more harshly than I intended. "No," I tried again, more gently but with an edge to my voice. "Our parents aren't around; I am as close as you're going to get. I am Lane's legal guardian if that helps." There was a slight pause as her amber eyes shifted from surprise to curiosity. "That helps a lot. Why don't you give me 15 minutes or so to take a look at this brave dude's ankle, then we can talk over some options, once I have a better sense of what's going on." "That okay with you, Bud?" I asked as I walked over to the couch. "Yeah, that should be fine," he replied, but his eyes were wide, and his cheeks were flushed. For a moment, I was worried that he might be running a fever, but then I got my first look at Erin, and I understood. Maybe she wasn't classically beautiful like a movie star or swimsuit model, but she was lean and fit, and from what I could see, had more than enough curves in all the right places. It was her face, however, that captured me. She had delicate features accentuated by her high cheekbones, and there was a softness to her expression that spoke of empathy and kindness. Her eyes, though intense, had a warmth that put me instantly at ease. I realized much too late that I had been staring at Erin for an uncomfortably long time while holding the bag of steelhead filets out like some kind of sacrificial offering. While I stood frozen, the look in Erin's beautiful eyes had shifted from curiosity to amusement; I would assume at the fish-carrying simpleton standing in front of her. "Thanks, Dr. Anderson; err, Erin. I appreciate your taking a look at him and; I am going to go cook us up some fish before I make an even bigger ass of myself." Wilma joined me in the kitchen, while Erin continued to assess Lane's injured ankle. We spent the next few minutes dicing the potatoes and veggies and tossing them with some olive oil, salt, and pepper before sprinkling the filets of steelhead with a mixture of herbs. I topped the fish with some slices of a less-than-fresh, but still edible, lemon I found in the fridge, before putting the whole thing in the oven. To be continued in part 2. Based on a post by CleverGenericName, in 4 parts, for Literotica.

In the 1800s, it seemed like mathematics was a solved problem. The paradoxes in the field were resolved, and even areas like advanced calculus could be taught consistently and reliably at any school. It was clearly understandable in a way that abstract fields like philosophy weren’t, and it was on its way to solving humanity’s problems. Mathematical work on electromagnetism made modern electrical engineering and power systems possible. New research in algebra created the logical basis for future computer science and digital circuits. But then new problems appeared. In the early 20th century, mathematicians made discoveries that showed them enough to know how little they really knew. Bertrand Russell showed that at its edges, math fell apart. It couldn’t fully define itself on its own terms without becoming logically inconsistent. He gave the analogy of a small-town barber who shaves everyone who doesn't shave himself; the question is, who shaves the barber—if he shaves himself, he breaks the rule, but if he doesn't shave himself, he must, by the rule, shave himself? In today’s episode, I’m speaking to Jason Bardi, author of The Great Math War: How Three Brilliant Minds Fought for the Foundations of Mathematics and we explore the story of three competing efforts by mathematicians to resolve this crisis. What do you do if math, the most logical of all sciences, becomes illogical at a certain point? Bertrand Russell thought the problem could be solved with even more logic, we just hadn’t tried hard enough. David Hilbert thought redemption lay in accepting mathematics as a formal game of arbitrary rules, no different from the moves and pieces in chess. And L. E. J. Brouwer argued math is entirely rooted in human intuition—and that math is not based on logic but rather logic is based on math. Set against the backdrop of one of the most turbulent periods of European history (from the late 19th century through World War I, the 1920s, the Great Depression, and the early days of World War II), we look at what happens when rock-solid truths don’t seem so rock solid anymore.See omnystudio.com/listener for privacy information.

What if an entire family's trajectory changed in a single moment of tragedy? In this episode, Stephen Woessner, founder of Predictive ROI, shares the remarkable story of his grandfather Peter Marus, who arrived in America in 1920 with just $10 and couldn't speak English. After his father was murdered on the streets of Istanbul for being Greek, eight-year-old Peter became the family breadwinner, dropping out of third grade to support his mother and siblings. That singular tragedy transformed his family's DNA, creating a lineage of entrepreneurs that spans four generations. Stephen reveals how his grandfather's business philosophy during the Great Depression, giving away more soup than he sold because "Jesus might look like anyone," shaped his own approach to business and giving. Now running an agency that serves other agencies, Stephen and his wife have quietly paid thousands in tuition for struggling families, honoring his grandfather's sacrifice while pursuing an audacious vision: building 100 churches and funding college educations for as many kids as possible. Stephen explains why education is the great equalizer, how one moment of violence created an entire family of business owners, and what it means to honor the risks your ancestors took by working late into the night when you'd rather sleep.   [00:03:00] The Corey Morris Connection Kevin and Stephen connected through Corey Morris and felt like they'd known each other for years Stephen: "When Corey introduces me to somebody, there's the transference of trust and credibility" The power of context in introductions versus generic "you're both great guys" connections Trust transfers through quality, contextual connections [00:06:40] Family First, Business Second Married 32 years to Christine, daughter Caitlyn is freshman in college Stephen and Christine were married 14 years before having Caitlyn On "empty nesting": "I think we're gonna be okay" spending time together again [00:07:00] Building Predictive ROI Started Predictive ROI in 2009 with team of 26 who genuinely care about each other Uses the "forbidden love word" inside the business Agency supports other agencies with business development and sales operations Team travels together, hangs out together, laughs and cries together [00:09:20] The Unlikely Path to Agency Life Grew up in Canton, Ohio surrounded by family restaurant businesses Graduated 272 out of 300 in high school ("I don't think you got your percentiles right, Mom") Joined Air Force in junior year, spent four years in nuclear missile silos in South Dakota Learned power of troubleshooting and system design [00:11:00] Breaking Into Advertising Working at Red Lobster, needed marketing experience to become manager Called agencies in Rapid City offering to work for free, most said he was "greener than green" Robert Sharp and Associates said yes to three-month unpaid internship Competed against two other interns: "There's no way I'm not winning this" [00:16:00] What Inspires the Work Changing trajectory from famine to feast in business development Replacing desperation with hope, confidence, and structure Creating dependable sales pipelines that open new possibilities for agencies [00:17:40] The Everest Mission Business goals mapped on office wall, but real "why" is building 100 churches Put as many kids through college as possible Stephen: "Education is a great equalizer" Business profits fund impact, not the other way around [00:20:40] Peter Marus: The Man Who Changed Everything Born 1902 in Istanbul, Turkey Father murdered on streets when Peter was eight for being Greek Dropped out of third grade to become breadwinner for mom and two younger siblings At 18 (1920), came to United States with $10 and no English [00:22:20] Building The Ideal Restaurant Came to Canton, Ohio, started washing dishes and cutting vegetables Traded skills for money, saved everything Six years later, opened The Ideal restaurant in downtown Canton Got married, had four kids [00:23:20] The Depression Philosophy Gave away more soup than he sold during the Great Depression Peter's response when asked why: "I know Jesus is coming back someday. I don't know what he's gonna look like, so I'm just gonna be kind to everybody" Entire business plan: "If you take care of your customer, they will take care of you" And he was right [00:24:20] Papu: 14 Years of Living Proof Stephen called him "Papu" (Greek for grandfather), passed away when Stephen was 14 For 14 years, showed Stephen what it meant to be good person, take care of people, sacrifice for family Stephen: "I didn't hear somebody just talk about it. I saw somebody live it" [00:25:40] When DNA Changes in a Moment Stephen believes when great-grandfather was murdered, family DNA changed to entrepreneurs Peter's four kids all became restaurateurs All 10 grandkids became business owners 100% of family downstream became entrepreneurs [00:28:00] From Poor Student to Education Advocate Peter had only third grade education but was incredibly intelligent Never stopped reading and consuming knowledge with fervor for education Stephen got four college degrees through Air Force Now wants to put as many kids through college as possible in Peter's honor [00:29:20] Becoming a Partner in Three Years Told agency president: "I want to be an owner in this business" Set five-year goal, worked hard, badgered the president Accomplished it in three years instead [00:30:00] The Late Night Work Ethic Peter's photo framed on Stephen's office wall as daily reminder At night when tired: "I think I can send one more email" Has privilege to do what he does because Peter took all those risks Grandmother's struggle from Crete to America was horrendous too [00:32:00] The $5,186 Check That Changed Lives First time Stephen has shared this story publicly 15 years ago at back-to-school night, wondered if families were struggling with tuition Principal Bob said family's business failing, owed $5,186, had to pull kids out Stephen brought check that day, one condition: complete anonymity Received anonymous thank you letter, Stephen and Christine crying in kitchen: "We need to do more of that" [00:36:00] The Gift of Receiving Kevin's realization 13 years ago: not receiving deprives others of joy of giving Family foundation gives kids debit card at Christmas to find struggling families Kids shop for gifts/food, deliver everything themselves Oldest daughter: "Dad, I wish I could just do that all the time" [00:38:40] Blossom Garden Orphanage Kevin's family supports Jamaica orphanage for years, takes trips to spend time with kids Kids call it "white people day" when they visit First trip son Brock was 3, only white kid in photo, completely oblivious Now take kids' school friends, parents amazed when they return with new perspective   KEY QUOTES "You know, I know that Jesus is coming back someday. I don't know what he's gonna look like, so I'm just gonna be kind to everybody." - Peter Marus (Stephen's grandfather) "If you take care of your customer, they will take care of you." - Peter Marus "In that moment that my great-grandfather was murdered in Istanbul, everything downstream changed. We became entrepreneurs." - Stephen Woessner "Education is a great equalizer. If you want to change somebody's trajectory, give them education." - Stephen Woessner CONNECT WITH STEPHEN WOESSNER 

Pretty Boy Floyd is usually remembered as a larger than life outlaw from the Great Depression, but the real story is a lot messier than the legend. In this episode, we talk about where the myths came from, what he actually did, and why people are still arguing about him decades later.Become a supporter of this podcast: https://www.spreaker.com/podcast/outlaws-gunslingers--4737234/support.Subscribe to our YouTube! https://www.youtube.com/@bangdangnetwork

Despite its long-held place in history as the lynchpin of America's recovery from the Great Depression, what if the New Deal did more to hinder the country's recovery than help it? George Selgin is a professor emeritus of economics at the University of Georgia and former director of the Center on Monetary and Financial Alternatives at the Cato Institute. His books like, False Dawn: The New Deal and the Promise of Recovery and Floored!: How a Misguided Fed Experiment Deepened and Prolonged the Great Recession, examine macroeconomic theories through the lens of key moments in monetary history. In this conversation, Greg and George dive deep into the inner workings of The Great Depression, covering the biggest misconceptions surrounding the New Deal's role in ending the crisis, why many of President Roosevelt's policies were counterproductive, and how pre-existing, international factors impacted the U.S.'s recovery.*unSILOed Podcast is produced by University FM.*Episode Quotes:The myth of New Deal wisdom47:17: The thing that people have to remember when they are inclined to think, oh, you know, we need to look back at the New Deal and all the wonderful things they did to end the Depression. They knew so much, you know, they had all these experiments. No. We know a lot more about how to fight recessions and depressions than they did because we know that fiscal and monetary stimulus are our best hopes. And those were two things that the Roosevelt administration did not put much, if any, emphasis upon. And that, of course, just hearing that should give a lot of people second thoughts about how helpful the New Deal was. They did a lot of stuff, but they did not do the main thing we rely on now. The main things, they did not promote monetary stimulus, and they did not promote fiscal stimulus except somewhat, reluctantly.Keynes vs. the New Dealers59:39: I certainly believe that if Keynes's advice had been followed instead of what the New Dealers did, that the Depression would have ended much sooner than it did in the United States. The downside of "bold experimentation"35:56: Roosevelt made two statements that were probably the least, the two main unambiguous things he said, one of which turned out to be a very accurate description of what his administration would end up doing. And the other one of which would be a very inaccurate statement. This is all in the course of the campaign. The accurate statement was when he said that his administration planned to go about addressing the Depression through bold experimentation. And that is absolutely true. There was a lot of trial and error. And the problem is, as I say in my book, you know, the problem with bold experiments is they often fail.On war clouds and gold flows45:41: What keeps gold flowing in for the rest of the decade, and more and more of it as time goes on, is Hitler's rise to power and the, the gatherings war clouds that eventually have many, many Europeans thinking, I do not think this is place, this place is safe for our gold. And as long as they could, taking it and shipping it to the United States, where now after the suspension of the gold standard and the devaluation, the treasury alone is buying all the gold.Show Links:Recommended Resources:John Maynard KeynesFranklin D. RooseveltHerbert Hoover Henry Ford Alexander J. Field James Bradford DeLong Guest Profile:Faculty Profile at University of Georgia Professional Profile at the Cato InstituteProfessional Profile on LinkedInProfile on XGuest Work:False Dawn: The New Deal and the Promise of Recovery, 1933–1947 Floored!: How a Misguided Fed Experiment Deepened and Prolonged the Great RecessionMoney: Free and Unfree Less Than Zero: The Case for a Falling Price Level in a Growing EconomyThe Menace of Fiscal QE  Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

This week on TrendsTalk, ITR Economist and Speaker Taylor St. Germain breaks down why electricity costs are rising and how data center expansion is reshaping the economic landscape heading into 2026. As inflation pressures build and power infrastructure strains intensify, electricity is emerging as a top input cost for many businesses. Where are the risks, and where are the opportunities for growth despite higher costs? Click here to buy our webinar, Strategic Shifts for Resiliency in the 2030s Great Depression, here → https://hubs.la/Q03VQwhz0

A profound exploration of the Green Bay Packers' historic 1929 season unveils a juxtaposition of triumph and unexpected defeat. A mere 96 years prior, the Packers, under the astute leadership of Curly Lambeau, secured their inaugural National Football League championship with an impressive record of 12 wins, no losses, and one tie. Their dominance was underscored by a formidable defense that permitted a mere four points in their first five games, culminating in eight shutouts throughout the season, thereby establishing them as a veritable powerhouse in the league. However, this narrative takes a perplexing turn as we delve into the circumstances surrounding their singular defeat, which transpired not during the regular season but in an exhibition match against the Memphis Tigers, a team bolstered by players from various NFL franchises and driven by the financial exigencies following the onset of the Great Depression. This loss raises intriguing questions about the nature of competition and the complexities of early professional football, where financial motivations often intersected with the pursuit of athletic excellence.Join us at the Pigskin Dispatch website to see even more Positive football news! Don't forget to check out and subscribe to the Pigskin Dispatch YouTube channel for additional content and the regular Football History Minute Shorts.Miss our football by the day of the year podcasts, well don't, because they can still be found at the Pigskin Dispatch website.

In 1937, a 23-year-old Flint woman stood between General Motors security, Flint police gunfire, and the workers fighting for their lives inside Fisher Body.Her name was Genora Johnson Dollinger — and she did more than rally the Women's Emergency Brigade.She dodged bullets for the UAW and helped spark a labor uprising that reshaped the American middle class.This episode begins with a cinematic reenactment of the Flint Sit-Down Strike and Genora's electrifying moment on the picket line. From her kitchen-table organizing to the chaos outside the plants, Genora's bravery becomes the doorway into a deeper story about labor, power, and the long shadow cast over America's auto industry.

In 1937, a 23-year-old Flint woman stood between General Motors security, Flint police gunfire, and the workers fighting for their lives inside Fisher Body. Her name was Genora Johnson Dollinger — and she did more than rally the Women's Emergency Brigade. She dodged bullets for the UAW and helped spark a labor uprising that reshaped the American middle class.This episode begins with a cinematic reenactment of the Flint Sit-Down Strike and Genora's electrifying moment on the picket line. From her kitchen-table organizing to the chaos outside the plants, Genora's bravery becomes the doorway into a deeper story about labor, power, and the long shadow cast over America's auto industry.We would like to hear from you! Send us a Text.

A moment in time that is not discussed but incredibly important, the Interwar Period, is a pivotal time in European History. In this episode we briefly discuss:The aftermath of WWI The treaty of VersaillesThe League of Nations and its ineffectivenessFinancial crises and how it leads to extremism Christian leaders who stood for & against the NazisSpanish Civil WarThe rise of doubt, secularism, and distrust in Christian leadershipThis all shaped how European culture influences the world today and how it has responded to the gospel of Christ. -----------SOURCES:https://www.mdpi.com/2077-1444/9/1/26?utmhttps://christianciv.com/blog/index.php/2015/10/22/real-nazis Thomas Kselman, Religion and Society in Modern France (1996 https://historyforatheists.com/2021/07/hitler-atheist-pagan-or-christian/1905 French Law, official government translation (Ministère de la Justice, France)Barry, The Catholic Encyclopedia, “War,” 1914 editionJowett, The Transfigured Church, 1915 H. G. Wells, The War That Will End War, appendix; also in Enrico Dal Covolo, La Chiesa e la Grande Guerra.Clifford, Christianity and the War, 1915Keegan, The First World War (1998); Arnold, History: A Very Short Introduction (2019); Gilbert, The Century (1997)Eichengreen, Golden Fetters (1992)Temin, Lessons from the Great Depression (1989)https://www.britannica.com/topic/League-of-Nations/Members-of-the-League-of-Nationshttps://cathedralofhope.org/wp-content/uploads/2019/03/The-Theological-Declaration-of-Barmen.pdfhttps://www.worldhistorythreads.com/p/religion-and-dictatorship-in-francoistSupport the showWant to serve or learn more? https://gemission.orgGive to Greater Europe Missionhttps://gemission.org/give/

December 12, 2025 This week on Fed Watch, ITR Economist and Speaker Lauren Saidel-Baker unpacks the Fed's latest rate cut. Is the real story hiding between the lines? With committee views drifting apart and borrowing costs sticking higher than many expected, the outlook is anything but settled. Are the Fed's inflation assumptions on track, or is the bond market seeing something they're not? Tune in for our unbiased answers. Click here to buy our webinar, Strategic Shifts for Resiliency in the 2030s Great Depression, here → https://hubs.la/Q03VQwhz0

New York Times columnist Andrew Ross Sorkin, a student of past financial calamities, talks about the likelihood the U.S. economy could be headed toward another crisis. He says there are concerns about the impact of AI, crypto currencies and shadowy investment firms operating outside the regulated banking system. How the nation fares, he says, depends much on the judgement, and perhaps financial interests of Donald Trump. “The entire business world now runs through one address – 1600 Pennsylvania Avenue – and to some degree through the prism of the whim of one individual,” Sorkin says. His new book, 1929, is about the financial panic that led to the Great Depression.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

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Historian David Kennedy looks at Franklin D. Roosevelt's leadership by exploring how he guided the United States through the twin upheavals of the Great Depression and World War II. Kennedy explains how FDR reshaped federal power, responded to mass economic hardship, and slowly steered a largely isolationist nation toward global responsibility. The discussion highlights the weaknesses of the pre–New Deal government, Roosevelt's innovative (and sometimes improvised) approach to rebuilding institutions, and the ongoing historical debates over what he was trying to achieve and how successful he really was. Overall, the exchange paints FDR as both a bold domestic reformer and a key architect of the postwar international system that defined American leadership for decades.

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

Numbers often tell the story best. Yesterday, we discussed today's 95/5 reality in which 5% of Americans control 95% of the wealth. Today, in our conversation with Patrick Markee, author of Placeless, the key number is 2%. That's the number of Americans who, on any given day, are homeless. But it's a number, Markee insists, that doesn't have to be. Mass homelessness, America's most shameful open secret, is a modern phenomenon, he explains, triggered by Reagan's neo-liberal policies. There's nothing inevitable or necessary about it. And just as economic and political policy caused the crisis, it can also solve it. What's most chilling is how normalized it's become. Two-thirds of Americans are too young to remember a time when large numbers of people weren't sleeping on sidewalks. In New York City alone, 35,000 children sleep in shelters every night—numbers not seen since the Great Depression. Future generations, Markee suggests, will look back at us the way we look back at those who tolerated slavery. How could we all have just walked on by? This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit keenon.substack.com/subscribe

When we clock in on Monday morning, most of us are looking at a 40-hour work week. But what's so special about 40 hours? Andrew Blackman joins host Krys Boyd to discuss the history of the 40-hour week, how the Great Depression finally presented an opportunity to shrink the working day, and how we might shave off even more hours in our modern era. His article “How Did We Get a 40-Hour Workweek and Has It Had Its Day?” was published in The Wall Street Journal.   Learn about your ad choices: dovetail.prx.org/ad-choices

The Collapse of the Soviet Union was twice as devastating as the Great Depression for those who lived there. It immediately led to widespread economic chaos and a breakdown of public services, plunging millions into a difficult period where mere survival was the priority. As one Russian described, after hyperinflation wiped out their family's savings, "my parents still had the same 50,000 rubles... But by then, all they could afford to buy with it was a pair of winter boots for my mother." There was optimism that democracy could emerge, but thirty years after the collapse of the USSR, the victory over totalitarianism feels alarmingly short-lived, with the unresolved unraveling of the Soviet empire now directly fueling global crises like the war in Ukraine. The people currently in power in Russia, belonging to what some call the last Soviet generation--meaning they absorbed Soviet culture but not Soviet faith--carry a deep, cynical disbelief in democracy and human rights, demonstrating how the core structures of empire remain entrenched in the governing forces today. Today's guest is Mikhail Zygar, author of The Dark Side of the Earth: Russia's Short-Lived Victory Over Totalitarianism, and we explore his decade-long investigation, drawing on hundreds of never-before-public interviews with figures like Mikhail Gorbachev, the first leaders of post-Soviet republics, and democracy activists, to reveal how the USSR's demise was primarily driven by a collapse of faith in communist ideals, and we examine the parallel it creates for liberal democracy today.See omnystudio.com/listener for privacy information.

With the gubernatorial election less than a year away, now is the time to ask the crowded field of candidates about their positions on conservation and the environment.Three episodes ago, we discussed the impact America's lead-up to World War II had on Florida, bringing hundreds of thousands of servicemen and dozens of military installations to the state. That was the 1930s. In this episode with Florida author and historian Gary Mormino, we discussed what else was going on across the state during the 1930s - the heart of the Great Depression.If the Jeffrey Epstein scandal interests you, here's the link to our previous episode with Julie Brown, the Miami Herald investigative journalist who would not let the story die, even after Epstein initially got away with it.Nature DisturbedMother Nature is one weird ladyListen on: Apple Podcasts Spotify

From Harding's Success to FDR's Political Evolution — David Pietrusza — Herbert Hoover chose affiliation with the Republican Party, finding the Democratic Party either excessively radical or institutionally corrupt. Hoover's persistent inability to establish authentic public connection ultimately undermined his effectiveness during the Great Depression. FDR, by contrast, was politically mature and experienced significant personal transformation after contracting polio in 1921, developing genuine empathy and becoming a disciplined, calculating leader who mastered radio communication with the American people. Learning from Wilson's diplomatic failures, FDR ensured that future international commitments, notably the United Nations, incorporated substantive consultation with Republican leadership and bipartisan support. 1929

Bob walks through a recent WIRED video on “the economics behind the Great Depression,” correcting its claims on lax regulation, Hoover's alleged inaction, the role of the Fed and the gold standard, and the notion that World War II ended the slump.Bob's Article, "The Depression You've Never Heard Of: 1920-1921": Mises.org/HAP528aBob's Talk, "Contrasting Views of the Great Depression": Mises.org/HAP528bThe WIRED Video, "Economics Professor Answers Great Depression Questions": Mises.org/HAP528cThe Mises Institute is giving away 100,000 copies of Hayek for the 21st Century. Get your free copy at Mises.org/HAPodFree

Last month, during the longest government shutdown in U.S. history, Treasury Secretary Scott Bessent announced that the United States had offered to functionally loan Argentina $20 billion. Despite the sums involved, this bailout required no authorization from Congress, because of the loan's source: an obscure pool of money called the Exchange Stabilization Fund. The ESF is essentially the Treasury Department's private slush fund. Its history goes all the way back to the Great Depression. But, in the 90 years since its creation, it has only been used one time at this scale to bailout an emerging economy: Mexico, in 1995. That case study contains some helpful lessons that can be used to make sense of Bessent's recent move. Will this new credit line to Argentina work out as well as it did the last time we tried it? Or will Argentina's economic troubles hamstring the Exchange Stabilization Fund forever?Pre-order the Planet Money book and get a free gift. /  Subscribe to Planet Money+Listen free: Apple Podcasts, Spotify, the NPR app or anywhere you get podcasts.Facebook / Instagram / TikTok / Our weekly Newsletter.This episode was hosted by Keith Romer and Erika Beras. It was produced by Luis Gallo. It was edited by Eric Mennel and fact checked by Sierra Juarez. It was engineered by Cena Loffredo. Alex Goldmark is Planet Money's executive producer.Learn more about sponsor message choices: podcastchoices.com/adchoicesNPR Privacy Policy

It's the end of an era. Rep. Nancy Pelosi, D-Calif., who counts among her legacies in Congress successfully undercutting the push for Medicare for All, announced last week that she is retiring from Congress. The two-time former speaker of the House made her announcement after Democrats made remarkable gains in nationwide elections, campaigning on affordability and standing up to the Trump administration.“We are in this era where we need new ideas, we need new leaders, we need people who are going to push the party in a new direction,” says Saikat Chakrabarti, who is running to replace Pelosi and represent San Francisco in Congress, making economic inequality and corporate power the focal point of his politics. This week on The Intercept Briefing, host Akela Lacy speaks to Chakrabarti, the co-founder of the progressive outfit Justice Democrats who helped run the primary campaign of one of its first candidates, Rep. Alexandria Ocasio-Cortez, becoming her first chief of staff.Answering Lacy's question as to how he'll get it done, Chakrabarti says, “In the 1930s, we had a really powerful, far right in this country. We were actually seeing Nazi rallies in Madison Square Garden, it was filling the stadium. And the way we defeated that was FDR came in with the New Deal movement. He built this whole new economy and a whole new society that improved people's lives so dramatically, it just killed this idea that you need an authoritarian to do it for you.” FDR “wasn't advocating for going back to a pre-Great Depression era. He was advocating for something new. So that's the way we get it done, and I see some movement towards that.”Chakrabarti has been openly calling for House Minority Leader Hakeem Jeffries, D-N.Y., to be primaried and tells The Intercept that Senate Minority Leader Chuck Schumer should be too, following the end of the longest government shutdown in U.S. history, after eight Democratic senators — none who are up for reelection — joined forces with Republicans to pass a spending package.“My goal, honestly, is to replace a huge part of the Democrat establishment,” says Chakrabarti. “I'm calling for primaries all across the country. ... I think we actually have to get in there and be in a position of power where we can do all that, so it's not going to be this constant compromising with the establishment, trying to figure out how we can push.” He adds, “I tried the pushing strategy — that's what Justice Democrats was: We were trying to elect people to try to push the Democratic Party to do the right thing. It's not going to work. We have to replace them.”Listen to the full conversation of The Intercept Briefing on Apple Podcasts, Spotify, or wherever you listen.You can support our work at theintercept.com/join. Your donation, no matter the amount, makes a real difference. Hosted on Acast. See acast.com/privacy for more information.