Podcasts about Milton Friedman

On May 9, 1873, as the Vienna Stock Exchange collapsed and thousands of speculators were wiped out in a single afternoon, young Salbert von Rothschild and two colleagues from the Schey and Goldschmidt banking families were nearly lynched on the floor of the exchange by infuriated stockjobbers and had to be rescued by police. That same evening, oblivious to the carnage a few hundred yards away, the Prince of Wales hosted a gala dinner at the Ministry of Finance, and the following night Emperor Franz Joseph served a state dinner for the assembled heirs to the royal thrones of Europe. Within months, the panic had crossed the Atlantic and destroyed Jay Cooke, the man who had single-handedly funded the Union's Civil War effort, shutting down the New York Stock Exchange for ten days. Today's guest is Liaquat Ahamed, author of 1873: The Rothschilds, the First Great Depression, and the Making of the Modern World. We discuss how the Rothschilds built their fortune smuggling gold across the English Channel during the Napoleonic Wars and became, relative to the size of the global economy, the richest family in history. We look at how Sultan Abdülaziz of the Ottoman Empire and Khedive Ismail of Egypt borrowed their nations into oblivion and were both destroyed for it, why the demonetization of silver was the most consequential economic blunder of the nineteenth century (Milton Friedman blamed it for the worst deflation in recorded history), and how a completely fabricated conspiracy theory about the Rothschilds bribing Congress sold 400,000 copies in the American heartland. Ahamed argues that the 1873 crisis created a twenty-year redistribution of wealth from farmers, workers, and small investors to the bankers most responsible for the crash, fueling populist movements that reshaped politics on every continent.See omnystudio.com/listener for privacy information.

Dive into why real capitalism lifts people while crony capitalism and big-government intervention drive up costs in housing, healthcare and energy. Alan breaks down the Founders' vision, Adam Smith's invisible hand and insights from Milton Friedman and Thomas Sowell to show how limited government unleashes prosperity. Plus, hear revealing soundbites from Senators Slotkin and Warner on voter ID and examine the explosive Detroit voter fraud documentary in the works. Don't miss this hard-hitting episode on freedom, fair elections, and fighting cronyism in America. Please take a moment to rate and review the show and then share the episode on social media. You can find me on Facebook, X, Instagram, GETTR, TRUTH Social, TikTok, YouTube and Rumble by searching for The Alan Sanders Show. And, consider becoming a sponsor of the show by visiting my Patreon page!

This week on the Mark Levin Show, Senator Lindsey Graham, a loyal friend and loyal ally to democratic and peace-loving countries around the world, has passed away. He was a friend to Israel, Ukraine, Taiwan, and others. He was a counterbalance to naive Woke Reich isolationists who talk about American sovereignty but don't realize you have to fight for it. Graham had a lot in common in national security matters with Ronald Reagan. Not even a nation as powerful as the United States can go it alone, and Graham understood we have alliances for a reason. The left and Woke Reich isolationists wasted no time attacking him, but he was popular in South Carolina and all over the world. He and his sound advice will be truly missed. Then, the infiltration of America by Islamists and jihadis is really in full force, and no one seems to be doing anything about it. Michigan Democratic Senate candidate Abdul El-Sayed's father-in-law, Jukaku Tayeb, is a top donor to his super PAC and a longtime leader on ISNA's founding committee and CAIR Michigan president—both groups are co-conspirators in the Holy Land Foundation terror-financing trial that funneled millions to Hamas, tied to the Muslim Brotherhood mothership responsible for groups like Al Qaeda, ISIS, and Hamas, and funded by Qatar and Turkey. Why do Democrats tolerate these ties? Democratic Socialists of America (DSA) seeks to eliminate the U.S. Senate and Electoral College to advance their agenda, though both require constitutional amendments. These institutions exist to protect smaller, less-populated states, ensuring they have a meaningful say in government so they would join the Union during independence. Similarly, the Electoral College ensures smaller states influence presidential elections, countering domination by a handful of large, populous Democrat metropolitan states and cities. Removing these safeguards would enable mob rule, open borders, non-citizen influence, and a centralized Marxist government. Later, the 2028 Republican presidential primary must be competitive and vibrant, with no coronations. The Republican Party needs to be rooted in the principles of Jefferson, Washington, Madison, Reagan, Buckley, Goldwater, and Milton Friedman's free markets—not Democrat-lite nationalism or populism that dismisses history—and we should demand articulate candidates who boldly contrast conservative beliefs with the left. No, we don't want a bold government, which is what the socialists and Marxists desire. We want an effective limited government confined to its constitutional powers, a bold private sector, and individual sovereignty. Learn more about your ad choices. Visit podcastchoices.com/adchoices

On Thursday's Mark Levin Show, the 2028 Republican presidential primary must be competitive and vibrant, with no coronations. The Republican Party needs to be rooted in the principles of Jefferson, Washington, Madison, Reagan, Buckley, Goldwater, and Milton Friedman's free markets—not Democrat-lite nationalism or populism that dismisses history—and we should demand articulate candidates who boldly contrast conservative beliefs with the left. No, we don't want a bold government, which is what the socialists and Marxists desire. We want an effective limited government confined to its constitutional powers, a bold private sector, and individual sovereignty. Also, Sen John Fetterman expressed his long-term concern as a Democrat that his party might back away and turn its back on Israel, declaring that if it ever officially becomes the anti-Israel party, he would leave because it represents moral clarity for him. Young Democrats in Pennsylvania largely do not like Fetterman, though blue-collar Democrats—including cops, firefighters, and miners—do support him in a state with the highest percentage of union households in the country. Fetterman sounds more conservative on Israel than some of the Woke Reich neo-fascists. Later, President Trump is set to reveal in his presidential address bombshell evidence that China interfered in the 2020 election to help Joe Biden win, including hacking into state voter registration databases and stealing information on tens of thousands of voters to manufacture mail-in ballots, based on declassified FBI, CIA, and ODNI documents. The speech will also highlight over 100,000 non-citizens, including illegal immigrants, on voter rolls nationwide. Democrat states refuse to clean their voter rolls of dead people, duplicates, and unvetted individuals in violation of federal law because they want to enable corruption and fraud. Afterward, the left and the media carry water for or enemies like Communist China by hindering U.S. progress in this critical AI race. AI development is essential for surpassing human knowledge generation in military, medical, and other fields, and halting it would let China and Russia dominate; data centers must be prioritized nationally and supported by innovations like miniature nuclear plants, despite leftist opposition akin to past fearmongering against fracking. Finally, there is no evidence of an Israeli influence campaign. The Israeli Foreign Ministry pushed back against a defamatory Time magazine article, clarifying that all activities are transparent, lawful under U.S. law, and involve no interference in U.S. policy; they lawfully contracted a digital agency to combat hatred against Jews and strengthen the U.S.-Israel alliance. JD Vance and Joe Rogan must apologize for smearing Israel. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Why do only some GOP congressmen get so much heat from the Communists? They lie like they breathe. More investigations into the fraud going on in our country. Was JD Vance too hard on Milton Friedman?Follow The Jesse Kelly Show on YouTube: https://www.youtube.com/@TheJesseKellyShowSee omnystudio.com/listener for privacy information.

On today's episode, we discuss how recent legal decisions on birthright citizenship and executive power could reshape U.S. immigration and sovereignty debates. The hosts walk through Justice Gorsuch's opinion on Trump's birthright citizenship executive order, explaining his focus on “domicile” rather than simple geography and how that would exclude tourists, transients, and many people here illegally from automatic citizenship. They address Gorsuch's and Kavanaugh's opinions, emphasizing that together they point to narrowly tailored injunctions, case-by-case domicile hearings, and a larger role for Congress rather than treating the 14th Amendment as a blanket rule. From there, the conversation shifts to economic philosophy, as they critique protectionist “Promethean Action” proposals, defend Milton Friedman's free enterprise ideas with limited national-security exceptions, and argue that overregulation—rather than trade itself—drives U.S. manufacturing overseas. The episode rounds out with updates on Lindsey Graham's sister's appointment to his Senate seat, emerging claims of Georgia election fraud, flock cameras and surveillance, and Rubio's pushback against the International Criminal Court, all framed as examples of how law, politics, and civil liberties intersect. Don't miss it!

"This is why insurance is such a beautiful problem... there is no solution. There are only psychological or philosophical answers to it."What if the rising cost of health insurance is a deeply ingrained philosophical problem?My guest this week is Tom Stein, CEO of American Trust Administrators (ATA). But this episode isn't just a tactical breakdown of stop-loss and aggregate underwriting; it is a masterclass in the history, psychology, and economics of the U.S. healthcare system.Tom and I explore the deeply embedded Machiavellian forces that drive insurance carrier monopolies, and why small business owners often choose the "safe" option of a 97% fully-insured renewal simply out of a psychological fear of loss. We trace the origins of employer-sponsored care back to Henry Kaiser and WWII, discuss the ethics of "compulsion vs. choice" in taxation and single-payer models, and analyze whether the U.S. is currently in a "Fourth Turning" crisis phase of our healthcare delivery system.This is one of the most fascinating conversations you will hear all year. Tune in.Thank you to our 2026 sponsors!ParetoHealth: ParetoHealth empowers midsize employers with a long-term solution to reduce volatility and lower overall health benefits costs. Visit https://www.paretohealth.com/fully-insured-vs-self-funding-with-paretohealth-spencer-podcast/?utm_source=youtube&utm_medium=referral&utm_campaign=SelfFundedwSpencer to learn more.Samaritan Fund: A program that connects those who need help to the support they need. We are proud to offer the Samaritan Fund Program. Visit SamaritanFundProgram.com to learn more.Vālenz Health: We're Vālenz Health, your partner in improving health literacy, reducing plan spend, and delivering high-value healthcare. Visit ValenzHealth.com to learn more.Imagine360: Imagine360 helps self-funded employers save on healthcare with smarter health plans. Cut expenses by 20-30% with custom solutions. Contact us today at Imagine360.com.Chapters:(00:00:00) Intro: The Philosophy of the Insurance Problem (00:01:35) The Illusion of Comfort: Why Employers Flee Responsibility (00:05:17) Breaking the System: When "Decent Men" Say Enough (00:08:05) The Psychology of Loss Aversion in Benefits Consulting (00:10:24) Are You a Serf or a Landlord? The Risk of Self-Funding (00:13:08) The "Marshmallow Test" and Delayed Gratification in Business (00:19:42) Tom's Background and the Origins of Level-Funding (00:23:39) Level-Funding a 5-Life Group: The Hard Way to Underwrite (00:30:56) The Fascinating History of U.S. Employer-Sponsored Healthcare (00:35:13) Machiavelli, Trust, and the "Brother Rule" of Business (00:41:09) Are We in the "Fourth Turning" of Healthcare? (00:45:54) How AI Will Bring Deeper Value to Client Relationships (00:49:40) Subsidizing Medicare: The Hidden Tax on Commercial Plans (00:53:35) Milton Friedman's Four Types of Money and the State (01:00:01) The Morality of Healthcare Bankruptcies (01:04:27) The Crisis of Meaning and "Earned Leisure" (01:08:23) Closing Thoughts: The Optimism of the Next GenerationKey Links for Social:@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFundedListen/watch on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/

"This is why insurance is such a beautiful problem... there is no solution. There are only psychological or philosophical answers to it."What if the rising cost of health insurance is a deeply ingrained philosophical problem?My guest this week is Tom Stein, CEO of American Trust Administrators (ATA). But this episode isn't just a tactical breakdown of stop-loss and aggregate underwriting; it is a masterclass in the history, psychology, and economics of the U.S. healthcare system.Tom and I explore the deeply embedded Machiavellian forces that drive insurance carrier monopolies, and why small business owners often choose the "safe" option of a 97% fully-insured renewal simply out of a psychological fear of loss. We trace the origins of employer-sponsored care back to Henry Kaiser and WWII, discuss the ethics of "compulsion vs. choice" in taxation and single-payer models, and analyze whether the U.S. is currently in a "Fourth Turning" crisis phase of our healthcare delivery system.This is one of the most fascinating conversations you will hear all year. Tune in.Thank you to our 2026 sponsors!ParetoHealth: ParetoHealth empowers midsize employers with a long-term solution to reduce volatility and lower overall health benefits costs. Visit https://www.paretohealth.com/fully-insured-vs-self-funding-with-paretohealth-spencer-podcast/?utm_source=youtube&utm_medium=referral&utm_campaign=SelfFundedwSpencer to learn more.Samaritan Fund: A program that connects those who need help to the support they need. We are proud to offer the Samaritan Fund Program. Visit SamaritanFundProgram.com to learn more.Vālenz Health: We're Vālenz Health, your partner in improving health literacy, reducing plan spend, and delivering high-value healthcare. Visit ValenzHealth.com to learn more.Imagine360: Imagine360 helps self-funded employers save on healthcare with smarter health plans. Cut expenses by 20-30% with custom solutions. Contact us today at Imagine360.com.Chapters:(00:00:00) Intro: The Philosophy of the Insurance Problem (00:01:35) The Illusion of Comfort: Why Employers Flee Responsibility (00:05:17) Breaking the System: When "Decent Men" Say Enough (00:08:05) The Psychology of Loss Aversion in Benefits Consulting (00:10:24) Are You a Serf or a Landlord? The Risk of Self-Funding (00:13:08) The "Marshmallow Test" and Delayed Gratification in Business (00:19:42) Tom's Background and the Origins of Level-Funding (00:23:39) Level-Funding a 5-Life Group: The Hard Way to Underwrite (00:30:56) The Fascinating History of U.S. Employer-Sponsored Healthcare (00:35:13) Machiavelli, Trust, and the "Brother Rule" of Business (00:41:09) Are We in the "Fourth Turning" of Healthcare? (00:45:54) How AI Will Bring Deeper Value to Client Relationships (00:49:40) Subsidizing Medicare: The Hidden Tax on Commercial Plans (00:53:35) Milton Friedman's Four Types of Money and the State (01:00:01) The Morality of Healthcare Bankruptcies (01:04:27) The Crisis of Meaning and "Earned Leisure" (01:08:23) Closing Thoughts: The Optimism of the Next GenerationKey Links for Social:@SelfFunded on YouTube for video versions of the podcast and much more - https://www.youtube.com/@SelfFundedListen/watch on Spotify - https://open.spotify.com/show/1TjmrMrkIj0qSmlwAIevKA?si=068a389925474f02Listen on Apple Podcasts - https://podcasts.apple.com/us/podcast/self-funded-with-spencer/id1566182286Follow Spencer on LinkedIn - https://www.linkedin.com/in/spencer-smith-self-funded/Follow Spencer on Instagram - https://www.instagram.com/selffundedwithspencer/

JD Vance has served admirably as Donald Trump's vice president and has been a true asset to the administration. Right now, he's favored to be the next Republican nominee for president when 2028 rolls around. But there are many other viable contenders. That's why his latest deep-dive interview on his views on the economy is highly disturbing. In Vance's interview last week with The Daily Wire, he sounded much more like a Mitt Romney, big-government RINO than a Trump or Ronald Reagan. Decide for yourself. Here are some of Vance's misguided views on economics and the future of the GOP:... Article Link

Keith Weinhold explains why inflation has become a permanent part of the post–World War II economy and what that shift means for today's financial system.  He breaks down economist Dr. Mark Skousen's five structural reasons behind never-ending inflation and ties them to the hollowing out of the middle class and the "last generation to live normally" concept.  Keith then introduces opportunity cost as the biggest financial expense most people overlook and illustrates how leveraging low-cost, long-term debt to buy productive real assets can turn inflation into an advantage.  He closes by outlining a practical hierarchy for which debts to eliminate first and which to keep as tools for long-term wealth building. Episode Page: GetRichEducation.com/614 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  FAMILY to 66866  Unlock truly passive real estate income—visit flockhomes.com/GRE today to see if your properties qualify for a 721 exchange with Flock Homes. To get in the best physical, mental, and professional shape of your life, go to DanielThomasHind.com and apply for Daniel's intensive 1-on-1 coaching for burnt-out entrepreneurs and executives. 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  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. In less than 40 years, America has gone from 75% gasoline to permanent inflation. Then learn about the biggest financial expense you will ever have in your life. It's not taxes, housing, interest charges, inflation, children, or healthcare. Most people have never heard of it today on Get Rich Education. You know, Mid South Homebuyers, that top Memphis turnkey provider. I learned that a secret weapon behind their explosive growth is more than just you buying their properties. It's an executive coach. For nine years now. Their CEO Terry Kerr and his COO Pat Nix have worked privately with a coach who I've now learned from too, and he doesn't market himself online anywhere. After 12 years behind the scenes, that coach is now making himself available exclusively for GRE listeners. His name is Daniel Thomas Hind. If you're a hard-charging business owner or investor who wants to get in the best shape of your life, physically, mentally, and professionally, you can fill out an application for a free consult. This is private one-on-one coaching for those willing to go to uncommon lengths to achieve uncommon results. Thanks to Daniel, we've all become better leaders, better operators, and better men. It started by showing up for ourselves. Now it's your turn. Go to DanielThomashHind.com. H-I-N-D. That's DanielThomashHind.com, and sign up before spots fill.   Keith Weinhold  1:41   What if you got your mortgage loans the same place I get mine? You sure can at Ridge Lending Group NMLS 42056 They provided GRE listeners with more loans than anyone because Ridge specializes in investment property. They'll help you build a long-term plan for growing your real estate empire with leverage. Start your prequal and even chat directly with President Chaley Ridge. While it's on your mind, start at ridgelendinggroup.com. That's ridgelendinggroup.com.   Speaker 1  2:14   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  2:31   Welcome to GRE from Bavaria, Germany, to Batavia, New York, and across 188 world nations. I'm Keith Weinhold, and you're listening to Get Rich Education. In the 19 the 1988 movie Die Hard, there's a California gas station sign in the background that's visible. You can see it there. The gas price on this sign is a jaw dropper. Unleaded 77.9 cents per gallon, regular 70-4.9 cents per gallon. That now looks like it belongs in a museum next to rotary phones and blockbuster video cards. Yes, California gas for 75 cents, and the movie Die Hard. It had all these actors from yesteryear, like Bruce Willis and Reginald Vel Johnson. Yet you, depending on your age, you might remember 1988. It's not like ancient history. Now we all know that inflation is always and everywhere a monetary phenomenon, like Milton Friedman said, but is there more to this? Is there more than the Fed targeting 2% inflation, just like it says on their website? Oh, there sure is. And by the way, with a little research, it looks like California Gas averaged 95 cents in 1988, not 75 like it shows in Die Hard, but in any case, the point is still there. And today, inflation keeps running hot. Four years ago, the pandemic made CPI inflation peak at 9.1 percent. Today, the hangover effects of tariffs push it up, and the Iran war are turning up the heat even more, with the latest reading above 4% Inflation is running at more than double what the Fed wants. You can even make the case now that inflation is out of control. But here's the thing: inflation has exceeded that 2% target for 60-three consecutive months now. I mean, think about what that means. My gosh, just imagine having an important target that affects every American and missing it 60-three times in a row. That's kind of what's happening now, and they're. Going to keep missing it. So this streak of inflation above 2% started back in March of 2021 during the pandemic hangover, and it is still going strong after 63 months. Nobody knows where this is going to end. Most Americans get crushed by rising prices because their wages don't keep up, and you know collectively they sort of think we are concerned, but then they mostly keep doing the same thing while their lifestyle quietly shrinks. So consumers despise inflation. Everyday investors are lukewarm about inflation, and leverage real estate investors are smiling like they found a 20-dollar bill in last winter's coat. Leverage real estate investors are pretty ecstatic about inflation. Now the history gets super interesting.   Keith Weinhold  5:59   Okay, how did we get into this, where we just always seem to have inflation? So learn the history, and then I'll tie it back to how it affects you as an investor. Because before World War II, inflation behaved differently. The old pre-1945 pattern was that we had inflation during wars and booms. We had deflation after panics and depressions. So therefore, the result was that over long stretches, price levels often just moved sideways. We used to have recessions more often back 80 plus years ago than we do now. So therefore, you just had these price levels move sideways because a recession even prompted deflation, actually a strengthening of purchasing power. But then after World War II, inflation basically went permanently positive. I mean, yeah, permanently positive, where inflation is just always turned on with very few exceptions to that. In wartime, now we have inflation. In peacetime, now we have inflation. During the Super Bowl, now we have inflation. It is inflation, no matter what is going on. Right then, so what changed? Prominent economist and GRE podcast guest here, Dr. Mark Skousen. He has cited five major reasons that inflation became a permanent fixture from 1945 until today. And Mark Skousen was here on the show with us almost exactly two years ago because he's also the founder of a great event called Freedom Fest that Nareesh and I broadcast a show from, the five reasons that Scowson cites for never-ending inflation are first, never-ending wars. Now this doesn't only mean formally declared boots on the ground wars where tanks are rolling, never-ending wars. It means this permanent state of global military readiness that we have today, where we have overseas bases, defense contractors, right with the military-industrial complex. We have NATO commitments.   Keith Weinhold  8:17   We have anti-terror operations, naval patrols, intelligence agencies, and all this enormous machinery that's required to keep America as the world's security backstop. Well, all that costs an awful lot of money, and when government wants more money than it collects, it has a favorite trick: just create more dollars and create them out of nothing. I mean, it's like ordering another round of drinks for the table and then putting it on the unborn grandchildren's tab. The second reason for the never-ending inflation is the 1913 creation of the Federal Reserve and how that's changed over time because the Fed they were originally supposed to defend the dollar, defend the gold standard, and act as lender of last resort. Today it mostly just does the last one. It acts as the lender of last resort, and it's really not even last resort. I mean, she shit seems to patch any significant hole in the economy by creating more dollars and then pumping them into the system. When markets wobble, banks panic, or politicians overspend, or the economy catches any kind of cold, you know, the Fed often just shows up with this fire hose of liquidity. Now, sometimes that's necessary, but either way, it means more currency creation. So, the Fed it began as this sort of sober hallway monitor, but now they're often the responsible party that needs monitoring. But no. No one is going to stand up and do it because no one in power wants austerity under their watch because that is extremely unpopular. The third reason for permanent inflation is the Bretton Woods Agreement. You've probably heard of this, but let me summarize what it briefly means. Okay, Bretton Woods was the 1944 deal that basically created the post-World War II global monetary system? It made the U.S. dollar the world's reserve currency. If you remember anything from Bretton Woods, just remember that it did that. It made the U.S. dollar the world's reserve currency, and the dollar was pegged to gold at $35 per ounce.   Keith Weinhold  13:29   And finally, the fifth reason for never-ending inflation post World War II is Keynesian economics. I mean, you probably at least heard the term before. It's been thrown around here from time to time. Named after John Maynard Keynes, K E Y N E S. And before I go on, I invested in real estate for a long time before I learned all this stuff. Probably close to a decade of investing first. So I taught myself this material, Keynesian economics. That's the belief that demand is what drives economic output and employment. So, if you only remember one thing about Keynesian economics, it's that you need demand, and it stokes demand. It says demand drives everything, and what I mean by that is the spending, spending from households, corporations, and government. So, in plain English, when private demand weakens, the government should step in and spend. That's what Keynesian economics says. Well, that means deficits, borrowing, stimulus, support, programs, relief, rescue packages, emergency measures, and see what happens is that temporary measures somehow become permanent measures wearing a fake mustache. Remember, even Nixon said removal from the gold standard is temporary. Well, that was now 50. 55 years ago, in theory, the government runs deficits in bad times and then tightens up in good times. But that doesn't really happen because, in practice, government often runs deficits in bad times and good times, war times, peace times, election years, non-election years, leap years, all the time running deficits, spending more than we take in, and when deficits become normal, well, then currency creation has got to follow. That's the consequence. Well, these five forces that I told you about for never-ending inflation, the reasons that I just shared with you-they are now structurally embedded. They are not going away.   Keith Weinhold  19:03   I mean, there is even political resistance to deflation in this system. Investors benefit the most when they own one thing: real assets tied to long-term debt. You probably knew that I was going to say that because if the dollar is designed to slowly melt. You don't want to be the one holding the ice cube. You want to own the freezer. That's the control that you have. The first half of the year recently ended. It's time for our asset class rundown. From the midpoint of last year to the midpoint of this year, single-family home values are up only about one and a half percent. That's the average of Case-Shiller and FHFA. Apartment building values are down 1% in the past year. When it comes to rents per Zillow, single-family home rents are up 2.8% in the past year to an all-time record of almost 20-$300 Apartment rents are up just. 1.3% nationally. Sunbelt Apartments were the weak spot. Apartments.com said the South was down seven tenths of 1% year over year, and the mountain region down one and a half percent. With San Antonio, Denver, Austin, and Phoenix among the weaker markets, that's due to oversupply in those areas. 30-year mortgage rates down from 6.8 to 6.6% The S S&P 500 up 21 percent on AI optimism, despite a war in Iran. Though down in past months for the year, gold is still up 21 percent, silver soared 63 percent, Bitcoin down 45 percent. I mean, speculative digital assets have really gotten a cold shoulder. Oil up 4% although it went on a wild ride, and CPI inflation reheated to 4.2% That's our asset class rundown.   Speaker 2  22:59   This is our rich dad poor dad author Robert Kiyosaki. Listen to Get Rich Education with Keith Weinhold. Don't quit your daydream.   Keith Weinhold  23:17   Welcome back to Get Rich Education. I'm your host Keith Weinhold. I want you to listen to something along with me, and then I'll come back to comment. This is from the parallel truth. It's called the last generation to live normally, and it's less than two minutes in length.   Speaker 2  23:32   We have to talk about something that sounds dramatic, but it is becoming true. Your parents may have been the last generation to live a normal life-not an easy life, not a perfect life, but a life where the basic deal still made sense. You could get a stable job, you could buy a house, you could raise children, you could save some money, you could retire one day. And even if life was hard, most people still believed that if they worked honestly, their future would slowly get better. But look at what happened to your generation. You work more, but own less. You study more, but feel less secure. You have more technology than any generation in history, but less peace, less time, and less confidence about the future. Your parents were told, "Work hard, and you will build a life. But you are being told that, "Work hard, and maybe you can afford rent. And the most disturbing part is that this did not happen overnight. It happened slowly. First, housing became an investment instead of a basic need. Then, education became a debt trap. Then, healthcare became too expensive. Then, stable jobs disappeared. Then, everything became a subscription: your house, your car, your software, your entertainment, even your future. Everything slowly became something you rent but never truly own. And while ordinary people were falling behind, the economy kept looking strong on paper. The stock market went up, billionaires got richer, companies made record profits. Politicians kept saying that everything was fine, but if everything is fine, why does an entire generation feel like it is drowning? The truth is, your parents did not live through normal history. They lived through a rare window where ordinary people. People were allowed to share in the wealth of the system, but that window is now closing. The old promise was simple: work hard, buy a home, raise a family, retire with dignity. The new promise is different: work forever, rent everything, delay children, carry debt, and call it freedom. So maybe young people are not lazy. Maybe they are just the first generation honest enough to admit that the old deal is dead. Your parents were not lucky because life was easy. They were lucky because they were the last ones who got the deal before it was taken away.   Keith Weinhold  25:27   Yeah, there it is-the last generation to live normally. That's really a fresh slant on the hollowing out of the middle class. The rules have changed. Inflation is entrenched. Now you know why. Back in 2020, the pandemic accelerated that effect, and yet it's just unbelievable to me that people think working hard and saving money is enough to get you the lifestyle that you desire. Now I am not against hard work, it's the fact that people think that that's all that it takes. Before we hit the permanent inflation era, it might have made sense for you to say, save your money, pay all cash for a cheap fixer-upper property, and work hard for years to fix it up yourself. Oh, and then you could own a modest home debt-free. Today, even if you could do that, why would you? Instead, you can just prudently finance your way through life. You could have instead borrowed for two or three already renovated properties and let debt, inflation, and perhaps even tenants do the work for you. Above all, do the right thing before you do things right. That's what I like to say. Well, the way you get wealthy is by owning a lot of assets, not by grinding in the salt mines to pay off your debt. Those that are debt free are often asset poor. The biggest financial expense that you will ever have in your life. Do you know what it is? It is not taxes or interest charges. It's not even inflation or housing or healthcare or having children, most people have never heard of it. You probably have, but most people have never heard of this biggest financial expense you'll ever have, and they certainly don't know how to avoid it.   Keith Weinhold  27:34   Say that you're 35 years old and you put 100k under a mattress for 30 years until you're 60- years old. Instead, if that would have been invested at a 12% annual return, do you know how much that would have grown to? That would have grown to $2.996 million All right, basically 3 million bucks, a 30x increase. Therefore, it would be a 2.9 million dollar mistake to save money, and what this means is that the biggest expense you'll ever pay in your life is called opportunity cost. Yeah, opportunity cost is life's biggest expense. It's the return that was foregone when you chose one option over another. So opportunity cost is not what you spend; it's what your money could have become had you put it somewhere more productive. All right, now that was a pretty extreme example of 100k under a mattress. As a listener to this show, you are probably more savvy than a person that would save big lumps of money for close to zero return. Let me give you a better example of how when you pay all cash for something, you've usually just made your future self poorer. A friend of mine heard the episode last year where I talked about buying a new car for myself, a BMW X3 SUV. As it is, you probably remember that episode. Though I could have paid all cash for the car, I put the minimum down payment in there and then financed as much as I could because of a favorable 4% interest rate that I got on a car loan. Well, my friend Jesse heard that episode. This influenced him. So what he did is he bought a Subaru for his wife. Although he had planned to pay all cash and could have paid all cash for the car, Jesse got financing, and he did better than me. He got just a 1% interest rate somehow. Wow! It was actually nine tenths of 1% but let's just call it 1% What a deal! Instead of paying all cash for the car, he held on to that chunk of money. Instead of tying it up in a depreciating asset, he is financing it all. Now I don't. How much the Subaru costs, but let's just say it was 50k to keep the numbers simple. Well, look, if Jesse feels like he can get a 10% return over time by investing his money instead of sinking it into a car, how much does he profit by borrowing? Of course, he has the advantage of keeping his funds more liquid as well, but how much does he actually profit from this arrangement?   Keith Weinhold  30:24   Well, the math is so easy that you can even visualize it in an audio format here. Now it depends on the loan term, but the simple spread is a 10% investment return minus a 1% car loan cost. That is a 9% positive spread on 50k. That's roughly $4,500 per year in benefit. That's before any taxes, risk, or fees. $4,500 a year just for doing some loan paperwork. Like if you wonder whether the loan paperwork is worth it or not, that's what we're talking about here, and that's 375 bucks a month. So if you're wondering if it's even worth it taking the time to get a car loan when you could pay all cash, it probably is. All right, now that's the upside. What about the risk that's associated with taking a loan instead of paying all cash, well, the caveat here is that the 1% loan is guaranteed, but the 10% return is probably not, and that risk gap does matter. If you're financially fragile and you can't make the payment with another pot of money, well, then you risk default. That is over leverage risk. That's the worst case scenario. All right, what's the flip side? The flip side is that you could earn a return even better than 10% As we know, with real estate pays five ways on investment property. If you earn a 20% return, now you're making $9,500 a year on the spread, not $4,500, but a 10% return. That is the base case. So again, by paying all cash instead of getting the loan, your future self would be poorer by $4,500 a year. And now, my friend Jesse, that learned this from me, he's actually a CFA, a chartered financial analyst, a sophisticated money guy. But he had simply been overlooking this. And said another way, what you're doing here is that over time, your investment is paying you more than your interest is costing you, and in my life, I have been doing exactly this sort of thing all over the place for decades. An interesting thing that I hear about this, although it makes me scratch my head, I've heard a few people say this. It's just like, oh well, I don't want to have to deal with a car payment? I just rather be done with it and move on. What is there to deal with? Just set up auto pay with preserving funds for say a 10% return. You're then going to see more dollars flowing into your account than you will out of it. I mean that part can just be automated.   Keith Weinhold  33:19   My life and finances are set up this way. In fact, when I get a loan for a rental property, I have had mortgage loan officers that are looking at my finances. They tell me that I have more stuff flowing into and out of my checking account than they've ever seen anyone have. I'm I'm financing and arbitraging my way through life passively. This is thanks in part to inflation. I am not paying very much at all in that biggest financial expense that we all have in our lives-not taxes or children or housing, but opportunity cost. I am avoiding paying that. This is the world that we live in today, a lot of times debt reduction is horrible advice. Debt free that can keep people from falling over a cliff, but it stalls any wealth creation. Now the debts that usually make the most sense to pay down they're the ones with high interest, variable rates, no tax benefit, and no productive asset attached. And here is the priority order that I use for paying down debt or paying off debt. First, it is credit cards. Pay down these first almost every time. I mean, a 20% or even 30% credit card rate. This is like financial quicksand. You don't need a sophisticated investment thesis when you can get a guaranteed 20-4% quote-unquote return by eliminating this debt. The next place I would pay down are payday loans, personal. Loans and consumer finance debt. I mean, these are usually bad debts because they're at a high rate, have a short amortization, and they're usually tied to consumption instead of an income-producing asset. Pay these aggressively too, and then next in priority is paying variable rate debt that could reset higher. This isn't quite as important to address.   Keith Weinhold  35:24   We're talking about things like HELOCs, adjustable rate loans, margin debt, and some business lines of credit. Some of those can become dangerous when rates rise, even if the rate's tolerable today. The uncertainty can be a bit of a problem. Now, when it comes to should you pay down student loans, consider that. low fixed-rate student loans that might not be urgent. It sure wasn't for me. High-rate private student loans that could be different. That could get more of your attention. You also got to weigh things like tax benefits. Look out for forgiveness programs when it comes to student loans, those haven't been quite as available lately under this administration. Also, look at employer repayment benefits before you rush to pay down student loans, and then really the last one: low fixed-rate mortgage debt. Pay that last if you ever do. In fact, it is quite possible that I will always keep this debt type around that low fixed rate mortgage debt. So really, my rule of thumb here is to kill toxic debt. Be careful with unstable debt, and don't rush to pay off cheap fixed productive debt if you ever pay it off at all. You and I covered a lot of ground today, starting with 75 cent gasoline in California, all the way to the biggest expense you'll ever pay throughout your life, being something that most people have never heard of: opportunity cost. Coming up on the show here, a lot of good episodes, including a great guest and I are going to discuss a new way to invest in residential real estate that we haven't discussed before, and it will massively boost your cash flow. If you found today's show valuable, whether it was the history of why we have permanent inflation or the idea of passively financing your way to wealth, rather than only working harder. I would be grateful if you share this episode with a friend. Just tap the share button in Spotify, Apple Podcasts, or wherever you listen, and send it to someone who would benefit from hearing it. Or take a screenshot of this episode and post it on social media. It helps more people find the show, and it gives you and your friends something smart to talk about with each other. Until next week, I'm your host Keith Weinhold. Don't quit your daydream.   Speaker 1  37:53   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  38:21   The preceding program was brought to you by your home for wealth building at getricheducation.com.  

She is not an ivory tower academic but an economist whose deep understanding of society comes from lived experience and endless curiosity. Vidya Mahambare joins Amit Varma in episode 448 of The Seen and the Unseen to discuss her life and her learnings. (FOR FULL LINKED SHOW NOTES, GO TO SEENUNSEEN.IN.) Also check out: 1. Vidya Mahambare on Google Scholar, LinkedIn, Twitter, Instagram, Great Lakes, Mint and her own website. 2. What Shapes Us? -- Vidya Mahambare's podcast. 3. Closing the income gap -- Vidya Mahambare's column on the five Es. 4. Family structure, education and women's employment in rural India -- Sowmya Dhanaraj and Vidya Mahambare. 5. Male backlash and female guilt: women's employment and intimate partner violence in urban India -- Sowmya Dhanaraj and Vidya Mahambare. 6. Women's challenging commutes in southern India: A case of the metropolitan region of Chennai -- Vidya Mahambare and Sowmya Dhanaraj. 7. Analysing the sentiment-based variation in finance ministers' communication -- Vidya Mahambare, Akash Gupta and Sowmya Dhanaraj. 8. Sowmya Dhanaraj Is Making a Difference — Episode 380 of The Seen and the Unseen. 9. Alice Evans Studies the Great Gender Divergence — Episode 297 of The Seen and the Unseen. 10. Fixing Indian Education — Episode 185 of The Seen and the Unseen (w Karthik Muralidharan). 11. A Deep Dive Into Education -- Episode 54 of Everything is Everything. 12. Puliyabaazi — Pranay Kotasthane, Saurabh Chandra and Khyati Pathak's podcast. 13. What These Labels Mean -- Episode 107 of Everything is Everything. 14. Every Act of Government Is an Act of Violence -- Amit Varma. 15. Understanding the State -- Episode 25 of Everything is Everything. 16. India's MSME Landscape — Some Useful Frameworks — Episode 419 of The Seen and the Unseen (w Sudhir Sarnobat and Narendra Shenoy). 17. What Ails Indian Manufacturing? -- Episode 104 of Everything is Everything. 18. Is Manufacturing the Answer? -- Episode 105 of Everything is Everything. 19. Niranjan Rajadhyaksha Is the Impartial Spectator — Episode 388 of The Seen and the Unseen. 20. Varditalya Mansachya Nondi -- Sadanand Date. 21. The Life and Times of Shanta Gokhale — Episode 311 of The Seen and the Unseen. 22. EconForEverybody -- Ashish Kulkarni's blog. 23. FSI (Floor Space Index) — Episode 11 of The Seen and the Unseen (w Alex Tabarrok). 24. Rent Control — Episode 14 of The Seen and the Unseen (w Alex Tabarrok). 25. Roofs or Ceilings -- Milton Friedman. 26. Stay Away From Luxury Beliefs — Episode 46 of Everything is Everything. 27. Luxury Beliefs are Status Symbols -- Rob Henderson. 28. A Matter of Life and Death -- Amit Varma. 29. India = Migration — Episode 128 of The Seen and the Unseen (w Chinmay Tumbe). 30. India Moving — Chinmay Tumbe. 31. Biju Rao Won't Bow to Conventional Wisdom — Episode 392 of The Seen and the Unseen. 32. Can Economics Become More Reflexive? — Vijayendra Rao. 33. Lant Pritchett Is on Team Prosperity — Episode 379 of The Seen and the Unseen. 34. Is Your Impact Evaluation Asking Questions That Matter? A Four Part Smell Test — Lant Pritchett. 35. The Confidence Gap — Katty Kay and Claire Shipman. 36. More from Less for More -- Raghunath Mashelkar and Sudhil Borde. This episode is sponsored by CTQ Compounds. Check out The Daily Reader and FutureStack. Use the code UNSEEN for Rs 2500 off. Amit Varma runs a course called Life Lessons, which aims to be a launchpad towards learning essential life skills all of you need. For more details, and to sign up, click here. And have you read Amit's newsletter? It's madly active right now! Subscribe right away to The India Uncut Newsletter! It's free! Also check out Amit's online course, The Art of Clear Writing. Episode art: 'Women at Work' by Simahina.

0:30 - Tyler Robinson Trial 5:52 - Platner's fare the well video 22:53 - Decline in reading 43:23 - Vance on Milton Friedman 01:02:14 - Eldar Mamedov argues renewed military action won't force Iran to change course, saying the current conflict is about the Strait of Hormuz—not its nuclear program. Follow Eldar on X @EldarMamedov4 01:23:57 - Noted economist Stephen Moore responds to JD Vance's comments on Milton Friedman, warning that some national conservatives are embracing a bigger government role in the economy. Get more Steve @StephenMoore 01:39:41 - Managing Editor for HotAir.com Ed Morrisey on Graham Platner’s fare the well video: To go on for 11 minutes and paint yourself as the victim is about as arrogant a statement as I've ever heard. 02:01:45 - Chairman & Founding Director of AIQA Global, James Malackowski, with AIQA Global’s Co-Founder and Managing Director Chase Malackowski: AI has a trust problem. Chicago can help solve it. For more on AIQA Global aiqaglobal.comSee omnystudio.com/listener for privacy information.

Vice President JD Vance stated last week in a now infamous interview that the right needs less Milton Friedman and an economic approach more like Alexander Hamilton's. One can hope the VP simply doesn't understand Milton Friedman, but more than likely this “new right” mentality is trying to draw a line against the laissez faire to the economy favored by Friedman. But when various 21st century voices claim Alexander Hamilton as one of their own in seeking larger government control over the economy, do they actually understand Hamilton correctly? In this Capital Record episode, David is happy to defend Milton Friedman, but also happy to defend Alexander Hamilton, too -- against a revisionism that not only gets its economics wrong, but its history, too. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Who is funding the students that India's banks won't touch?Propelld is one of India's largest education-focused lenders, giving loans to roughly 1.5 lakh students every year — matching SBI — with a team a fraction of the size and no branch network. In a single financial year it now disburses more education loans than SBI did in six years of its history.Victor started Propelld in 2016 with a thesis born out of a Milton Friedman paper: a good student should never have to walk away from a good opportunity just because they don't have the money. Propelld hit its stride by going exactly where traditional lenders refuse to — 70% of its borrowers come from tier-3 cities, a segment banks treat as too risky.Instead of chasing the safe 1% of students at IITs and IIMs, Victor made a bet most lenders never make. He built the ability to underwrite the end-use itself — a "Crystal score" for institutes and courses that measures employability and real ROI. The result: NPAs held at ~1%, roughly one-tenth of what banks see the moment they step outside tier-1.Victor has a clear view of where lending goes next. In a post-LLM world, risk, distribution, and fulfillment get radically more efficient — one person already drives ₹50 crore of disbursal a year, and OPEX is projected to fall toward 2% at ₹6,000 crore AUM. His ranking never changes: NPAs first, unit economics second, growth third.If you are excited about how AI is rebuilding lending — and who gets to dream bigger because of it — this episode is for you.00:00 - Trailer00:50 - The two numbers that tell Propelld's story01:55 - Why 70% of borrowers come from tier-3 cities02:21 - How NPAs stay at 1%02:52 - Why education is a great asset class04:04 - Building a "Crystal score" for institutes and courses05:31 - End-use control: why an education loan isn't a personal loan06:27 - Why banks only lend to IITs and IIMs08:36 - Measuring employability to underwrite the end-use10:23 - 10 years at the intersection of fintech and edtech11:46 - Why education financing is only ~5% penetrated17:53 - Do India's graduate really not get a job?21:12 - The 8% data point, and quantifying ROI22:24 - The social mobility no one can price25:39 - From IIT Madras and a global bank to building Propelld27:41 - How the post-LLM world rewires lending30:26 - How fast an institute gets onboarded and a loan disbursed32:12 - Profitable at a ₹1 lakh ticket size34:13 - The financials: doubling revenue, holding costs flat to FY3037:19 - Lending as an ecosystem enabler, not just a loan39:33 - The most valuable courses in a post-LLM world41:40 - The bet on arts graduates as coding gets commoditized43:32 - The Milton Friedman paper that started it all46:53 - 100 investors, and the few who said yes48:33 - Co-founding with school friends since class 650:24 - Settling disagreements over food and Hampi trips51:31 - The most common mistake fintech founders make52:51 - The one metric that ranks above everything: NPAs-------------India's talent has built the world's tech—now it's time to lead it.This mission goes beyond startups. It's about shifting the center of gravity in global tech to include the brilliance rising from India.What is Neon Fund?We invest in seed and early-stage founders from India and the diaspora building world-class Enterprise AI companies. We bring capital, conviction, and a community that's done it before.Subscribe for real founder stories, investor perspectives, economist breakdowns, and a behind-the-scenes look at how we're doing it all at Neon.-------------Check us out on:Website: https://neon.fund/Instagram: https://www.instagram.com/theneonshoww/LinkedIn: https://www.linkedin.com/company/beneon/Twitter: https://x.com/TheNeonShowwConnect with Siddhartha on:LinkedIn: https://www.linkedin.com/in/siddharthaahluwalia/Twitter: https://x.com/siddharthaa7-------------This video is for informational purposes only. The views expressed are those of the individuals quoted and do not constitute professional advice.Send us Fan Mail

America just turned 250 — and a card-carrying socialist is running its biggest city. On today's Wake Up America, Austin and Steffi Petersen break down the rise of the "Commie Caucus" after President Trump's 250th-anniversary war on communism — then bring you two rare pieces of GOOD news: America's nuclear reactors roaring back to life for the first time in 40 years, and EV batteries shattering every expectation. Plus, economist Jon Miltimore (@Miltimore79) joins to discuss why nearly half of young Americans are living with their parents, and economist Dan Mitchell (@danieljmitchell) joins to discuss JD Vance's claim that the GOP is now "more Alexander Hamilton than Milton Friedman." ▶ SUPPORT THE SHOW Join Petersens Patriots — $17.76/mo — 20% off the shop + exclusive in-person events: wakeupamericashow.com/support ▶ SHOP Merch, Founding Flavors Coffee, and the Richard Nixon Ringer Tee: 4LibertyShop.com ▶ JOIN THE COMMUNITY Discord: 4LibertyNetwork.com ▶ WATCH LIVE rumble.com/ap4liberty — Monday through Friday, 7–9 AM Central ▶ UNLOCK BONUS CONTENT $100 in Rants/gift subs/merch unlocks a 5-minute mini-doc on an American Revolution hero. $150 unlocks the Great Grift Off Liberty Loot game show, played live on your phone for real prizes. #WakeUpAmerica #AustinPetersen #Mamdani #JDVance #America250

Kinsella on Liberty Podcast: Episode 494. This is my interview by Alex Buxeda of at Schweizer Monat [Swiss Monthly; linktree]; recorded June 22, 2026. Youtube shownotes: Stephan Kinsella, patent attorney, legal theorist, and one of the leading critics of intellectual property sits with Alex Buxeda to explore whether ideas can be owned. Starting from first principles, they discuss why Kinsella argues that patents and copyrights are incompatible with property rights, the role of scarcity in economics, innovation without intellectual property, pharmaceutical patents, entrepreneurship, pricing, and the philosophical foundations of ownership. Grok summary: We discussed why intellectual property is fundamentally incompatible with genuine property rights. Stephan Kinsella argued that patents and copyrights are not legitimate property but state-granted monopolies that violate real ownership of scarce, physical resources. He explained that ideas and knowledge are non-scarce and non-rivalrous — one person's use does not prevent another's — so enforcing IP requires aggression against others' tangible property. We explored the flaws in common justifications for patents (especially in pharmaceuticals), the arbitrary nature of IP law, the myth that “creation” grants ownership, and how free competition and open knowledge flows drive far more innovation than government-protected monopolies. Kinsella also addressed the ethics of piracy, the distorting effects of the FDA and tariffs, and why emerging technologies like 3D printing and AI will increasingly undermine IP systems. https://youtu.be/Q4SD8pmpv1U?si=gtx2KN2CcsAbIl5s Related links/publications (Grok assist) For further discussion of the issues raised in this conversation, see the following resources by Stephan Kinsella, grouped by topic: Core Case Against IP & Property Rights Fundamentals Against Intellectual Property (2001/2008) — Kinsella's foundational monograph making the case that patents and copyrights are incompatible with libertarian property rights based on scarcity and homesteading. The Problem with Intellectual Property (2025) — A comprehensive recent paper arguing that IP rights are unjust state-granted monopolies that violate legitimate property rights in scarce resources. Against Intellectual Property After Twenty Years: Looking Back and Looking Forward (2022) — Updated reflections on the original arguments, addressing common objections and developments since 2001. Intellectual Property Rights as Negative Servitudes (2011) — Argues that IP functions as non-consensual negative servitudes on others' physical property, violating true property rights. Another Way to Explain the Problem with IP: Resources v. Knowledge; Ownership v. Possession (2017) — Clear distinction between scarce resources (subject to ownership) and non-scarce knowledge/ideas. The Prior-Later Distinction (2026) — Clarifies the foundational role of first-use (prior appropriation) in property rights theory. Structural Unity of Real and Intellectual Property? (2025) — Examines (and rejects) attempts to unify real and intellectual property conceptually. Scarcity, Ideas, Labor Theory & Creationism Critiques Ideas are Free: The Case Against Intellectual Property (2010) — Explains why ideas and knowledge are non-scarce and why libertarians were mistaken in supporting IP. Libertarian Lockean Creationism (2025) — Critique of the mistaken “creation” theory of property rights often used to defend IP. Locke's Big Mistake: How the Labor Theory of Property Ruined Political Theory Locke's Big Mistake (Transcript) (2013) Hume on Intellectual Property and the Problematic Labor Metaphor (2011) On the Danger of Metaphors in Scientific Discourse (2011) Objectivist Law Prof Mossoff on Copyright; or, the Misuse of Labor, Value, and Creation Metaphors (2008) How We Come to Own Ourselves (2006) — Explains self-ownership and original appropriation, central to why IP conflicts with libertarian property theory. Superabundant Bananas & Property Rights as Normative Support for Possession (2025) — Further clarification on scarcity, superabundance, and the nature of property rights. Pharmaceuticals, FDA & Market Distortions Patents and Pharmaceuticals (2023) Are Patents Needed to Make Up for FDA Kneecapping? (2011) FDA and Patent Reform: A Modest Proposal (2023) Milton Friedman on the Distorting Effect of Patents (2011) Drug Reimportation (2009) — Discussion of reimportation, free trade, and how patents distort pharmaceutical pricing. Tabarrok: Patent Policy on the Back of a Napkin (2012) — Critique of simplistic patent policy arguments. KOL469 | Tabarrok on Patents, Price Controls, and Drug Reimportation Practical & Reform Topics Do Business Without Intellectual Property (2014) How to Improve Patent, Copyright, and Trademark Law (2011) The American Invents Act and Patent Reform (2011) IP Law and Market Failure (2022) Intellectual Nonsense: Fallacious Arguments for IP (2012/2021) — Critique of common fallacious pro-IP arguments. Copyright Absurdities & Other Examples Libraries Prepare to Burn Foreign Books, Courtesy Copyright Law (2011) — Striking example of the absurd real-world effects of copyright enforcement. Historical Libertarian & Objectivist Views on IP Rothbard and the Galambosians (2005) — Discussion of extreme pro-IP views within libertarian circles and Rothbard's perspective. The Galambosians Strike Back (2015) Around This Time I Met the Galambosian (2013) Rand Chose IP: Death Over Life (2025) — Critique of Ayn Rand's strong support for IP. IP: The Objectivists Strike Back (2009) — Response to Objectivist defenses of IP. Why Objectivists Hate Anarchy (2009) — Broader context on Objectivist-libertarian tensions, including IP. Purpose of Law, Schizophrenic State & Broader Theory The Purpose of Law: Justice and Property Rights (2026) The Schizophrenic State (2006) — Classic piece on the contradictory nature of state actions regarding monopolies and competition. Foundational Libertarian Theory Legal Foundations of a Free Society (2023) Disentangling Legal and Economic Concepts (2025) The Title-Transfer Theory of Contract (2024) A Libertarian Theory of Contract (2003) What Libertarianism Is (2009) Recent Audio/Lectures KOL489 | The Problem with Intellectual Property (Audio) (2026) KOL483 | The Economics and Ethics of Intellectual Property (2026) KOL491 | Trying to Persuade Paul Cwik of the Case Against IP KOL253 | Berkeley Fed Soc: Libertarian's Case Against IP KOL469 | Tabarrok on Patents, Price Controls, and Drug Reimportation These resources expand on the core themes of scarcity versus ideas, negative servitudes, pharmaceutical patent issues, market distortions, FDA interactions, practical business strategies, Locke's labor theory mistakes, contract theory, self-ownership, metaphors in discourse, Objectivist views on IP, the purpose of law, and libertarian first principles discussed in the interview. Shownotes (Grok) Podcast Shownotes Episode Title: Stephan Kinsella: Why Intellectual Property is Incompatible with Property Rights Guest: Stephan Kinsella (retired patent attorney & libertarian legal theorist) Host: Alex Buxeda Episode Summary Stephan Kinsella delivers a rigorous, first-principles critique of patents and copyright. He argues that IP is not property at all, but a government-granted monopoly that violates genuine property rights in scarce resources. Drawing on Austrian economics and libertarian ethics, he explains why ideas are non-scarce, why IP slows innovation, and why free markets and competition are superior engines of progress. A clear, uncompromising defense of abolishing intellectual property. Total Runtime: ~1 hour 22 minutes Key Topics & Timestamps 0:00 – Introduction and Practical Market Realities Kinsella begins by noting that entrepreneurs can use strategies like loss leaders and price discrimination, but cartels and monopolies are hard to sustain due to competition and cheating — setting the stage for his deeper critique of state-enforced monopolies like IP. 1:00 – Kinsella's Journey from Pro-IP to Abolitionist As a former patent attorney and lifelong libertarian, Kinsella originally accepted Ayn Rand's defense of IP. After deep study while practicing patent law, he concluded that IP is literally unjustifiable and incompatible with property rights. This realization forced him to refine his understanding of libertarian property theory, relying more heavily on Mises, Rothbard, and Hoppe. 4:22 – Core Argument: Scarcity, Property Rights, and Why Ideas Are Not Property Property rights exist solely to resolve conflicts over scarce, rivalrous resources. Ideas and knowledge are non-scarce — one person's use does not prevent another's simultaneous use. Granting IP rights therefore requires using force against others' legitimate physical property (factories, printers, materials), creating artificial conflict rather than resolving it. IP is not ownership of information; it is a negative servitude on real property. 14:55 – The Pharmaceutical Patent Defense and Why It Fails Kinsella directly refutes the claim that expensive R&D requires patents. High drug costs stem primarily from FDA regulation, not invention. Patents create monopoly pricing and slow knowledge diffusion, which is the true source of long-term progress. He criticizes utilitarian “market failure” arguments, arbitrary patent terms, and the state's schizophrenic approach (granting monopolies via patents while attacking monopolies via antitrust). Free markets naturally reward first movers with temporary profits before competition drives prices down. 31:45 – Arbitrariness of IP and the Myth of “Creation” as a Source of Rights Patent and copyright durations are completely arbitrary....

On Thursday's Mark Levin Show, what made the Declaration of Independence remarkable was that it was unprecedented in human history. The Declaration serves as the foundational basis for the nation and its Constitution, celebrating America's purpose. Critics like Presidents Obama and Woodrow Wilson have rejected or downplayed its first part on the Creator and principles, focusing instead on the list of grievances against the king to advance new ideologies; however, President Coolidge defended these enduring, universal ideas from Aristotle and Locke as perpetual, not to be dismissed. The Declaration's concise statement of American identity is incompatible with Marxism, Islamism, and fascism. Also, President Reagan was a great admirer and friend of Milton Friedman. He often sought his input on economic policies. During Reagan's presidency, there was massive economic growth, and he won two historic landslide elections, popular vote and electoral college, like no Republican before or since. Alexander Hamilton would grow increasingly supportive of a powerful central government. He would argue with Thomas Jefferson and James Madison on their approaches to government during the Washington administration and beyond. Hamilton argued for implied powers under the Constitution, which infuriated Jefferson and Madison. Hamilton claimed the necessary and proper clause was essentially a ticket to significantly expanding federal action. Later, Americanism and capitalism are philosophies enabling individual decision-making under the Declaration and Constitution, whereas ideologies are fanatical beliefs imposed society-wide regardless of consequences. Communism is defective and anti-human, misreading human nature by suppressing free will, reason, debate, and academic freedom in favor of brainwashing, conformity, and central control, as seen in places like Cuba, Nicaragua, North Korea, and China, and similarly with Islamists. Nationalists, populists, and Marxists attack the American experiment, economic system, and culture through emotion, slogans of equality, and activist government, showing overlaps reminiscent of 1930s fascists and communists. Learn more about your ad choices. Visit podcastchoices.com/adchoices

JD Vance says the right is moving away from Milton Friedman. So why does the new Republican economics sound a lot like central planning? In this Good Morning Liberty Dumb Bleep of the Week, Nate and Chuck break down JD Vance's Hamiltonian economics, the GOP's growing comfort with government-managed markets, and why Milton Friedman's "where are the angels?" argument still matters. They also hit AOC, the Democratic Socialists of America, Elon Musk, SpaceX, Europe's AC panic, New York's 78-degree energy scolding, the KIDS Act, online age verification, Tim Burchett's federal government claim, Troy Nehls on affordability, and Trump's golden eagle meltdown. Chapters: 00:00 Liberty, fireworks, and Dumb Bleep rules 03:15 America at 250 and the founders problem 05:45 JD Vance rejects Milton Friedman 13:00 Human flourishing, living wage, and control 18:30 Milton Friedman asks where the angels are 23:45 DSA says socialism is the answer 26:45 AOC, Elon Musk, and federal contracts 37:30 Europe's AC blame game 41:45 Mamdani's 78 degree rule and Indian Point 46:15 Tim Burchett's 1966 government claim 49:30 The KIDS Act and age verification 56:30 Affordability, lobster, and the golden eagle Links: Watch All Episodes: https://www.youtube.com/playlist?list=PLi78svKlBr_8o0dDOX8DxO_Wwxu6WYhhA Watch Host Favorites: https://www.youtube.com/playlist?list=PLi78svKlBr__Zu40RL7mWxCuOOe54zgy2 Join the Fed Haters Club @ https://www.goodmorningliberty.us/fedhatersclub Join GML: joingml.com [Martens Minute]: https://martensminute.podbean.com/ All links @ gml.bio.link Subscribe, like, comment, share, and leave a rating or review on your podcast app.  

THE COMMUNIST TAKEOVER BEGINS A democratic socialist just torched a thirty-year incumbent in Denver, and she's only the latest. Today we trace the socialist takeover of the Democratic Party one quiet primary at a time, from Mamdani's New York to Melat Kiros in Colorado, and we show you the 1954 law the Democrats themselves passed to stop exactly this — the one we're asking them to enforce. Then we step into the oldest economic fight in America as JD Vance crowns Alexander Hamilton over Milton Friedman, and we put both men in the ring to ask which one the right should actually be following. Camellia joins us to make the case for Missouri's Amendment 4, and investigative reporter Tom Pappert breaks down how a fringe ideology captured a major party in plain sight.

Jon Hartley and Dr. Oz along with his two deputies discuss running the Centers for Medicare & Medicaid Services (CMS) which administers the major federal government healthcare programs within the US Department of Health and Human Services (HHS), tackling Medicaid and Medicare fraud across the nation, healthcare changes in the One Big Beautiful Bill (Working Families Tax Cuts Act), lowering pharmaceutical drug prices through most favored nation (MFN) deals and TrumpRx, and integrating AI and technology into CMS workflows. Recorded on June 11, 2026. ABOUT THE SERIES Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics. For more information about the podcast, or subscribe for the next episode, click here.

In part one of Red Eye Radio with Gary McNamara and Eric Harley, the guys begin the show by showing appreciation for just how great our country is and remembering the lives of their parents by making comparison of decades ago with the lack of the current technology we enjoy today. As America turns 250 over the weekend, all of us here at Red Eye Radio proudly fly our flag of gratefulness and appreciation for the freedoms we enjoy in this great country of ours every day! Also audio from Fox News confirming the Democratic Socialists of America's successful agenda of controlling the Democratic party / and archived audio from Milton Friedman on capitalism in America (at the time) For more talk on the issues that matter to you, listen on radio stations across America Monday-Friday 12am-5am CT (1am-6am ET and 10pm-3am PT), download the RED EYE RADIO SHOW app, asking your smart speaker, or listening at RedEyeRadioShow.com. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Was Milton Friedman right about inflation? Yes—but only if you quote the entire sentence. For decades, investors, economists, and financial media have repeated Friedman's famous statement that "inflation is always and everywhere a monetary phenomenon." Unfortunately, most stop at the comma, missing the critical qualification that changes the entire meaning. Lance Roberts reveals what Friedman actually meant, why money supply alone does not guarantee inflation, and how velocity, productive capacity, and credit creation determine whether higher prices become a lasting inflation problem or simply a temporary price adjustment. 0:00 INTRO 0:56 - Short Trading Week + EOQ Dynamics 4:16 - Google Joins the DJA 5:33 - Markets Break 50-DMA: What Comes Next? 12:07 - Milton Friedman Was Right (but mostly misquoted) 17:37 - Why is Debt Important? 20:57 - CPI in the '60's & '70's 22:47 - How to Grow Money Supply 26:15 - Money Has to Grow for the Economy to Grow 27:16 - The Importance of Monetary Velocity 34:54 - Quality of Credit Matters more than Quantity 38:22 - Where's All the Money Coming From? 40:50 - Household Cash as % of Total Household Assets 42:32 - The K is Improving 44:15 - Retail MM Fund Balances, Equity Ownership Growth 49:56 - Two America's Behind One Average 51:49 - What to Do? Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO Produced by Brent Clanton, Executive Producer ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/qDTBlhH8YGY ------- Watch today's "Before the Bell" premarket commentary, "50-DMA Breakdown: Bounce or Bigger Warning?" https://youtu.be/dzfHi5OoSXw ------- Watch our previous show, "Don't Sweat Social Security," https://youtube.com/live/V4m6knHOW2o?feature=share ------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- * REGISTER for our next Candid Coffee, "Narrative Busters: Market Stories Investors Should Approach With Caution," Saturday, July 18, 2026: https://streamyard.com/watch/RfJtCj2byfDr --- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN --- Subscribe to SimpleVisor : https://www.simplevisor.com/register-new --- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #Semiconductors #Micron #Investing #MarketOutlook #Inflation #MiltonFriedman #FederalReserve #Economics #Investing

Was Milton Friedman right about inflation? Yes—but only if you quote the entire sentence. For decades, investors, economists, and financial media have repeated Friedman's famous statement that "inflation is always and everywhere a monetary phenomenon." Unfortunately, most stop at the comma, missing the critical qualification that changes the entire meaning. Lance Roberts reveals what Friedman actually meant, why money supply alone does not guarantee inflation, and how velocity, productive capacity, and credit creation determine whether higher prices become a lasting inflation problem or simply a temporary price adjustment. 0:00 INTRO 0:56 - Short Trading Week + EOQ Dynamics 4:16 - Google Joins the DJA 5:33 - Markets Break 50-DMA: What Comes Next? 12:07 - Milton Friedman Was Right (but mostly misquoted) 17:37 - Why is Debt Important? 20:57 - CPI in the '60's & '70's 22:47 - How to Grow Money Supply 26:15 - Money Has to Grow for the Economy to Grow 27:16 - The Importance of Monetary Velocity 34:54 - Quality of Credit Matters more than Quantity 38:22 - Where's All the Money Coming From? 40:50 - Household Cash as % of Total Household Assets 42:32 - The K is Improving 44:15 - Retail MM Fund Balances, Equity Ownership Growth 49:56 - Two America's Behind One Average 51:49 - What to Do? Hosted by RIA Advisors Chief Investment Strategist, Lance Roberts, CIO Produced by Brent Clanton, Executive Producer ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/qDTBlhH8YGY ------- Watch today's "Before the Bell" premarket commentary, "50-DMA Breakdown: Bounce or Bigger Warning?" https://youtu.be/dzfHi5OoSXw ------- Watch our previous show, "Don't Sweat Social Security," https://youtube.com/live/V4m6knHOW2o?feature=share ------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- * REGISTER for our next Candid Coffee, "Narrative Busters: Market Stories Investors Should Approach With Caution," Saturday, July 18, 2026: https://streamyard.com/watch/RfJtCj2byfDr --- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN --- Subscribe to SimpleVisor : https://www.simplevisor.com/register-new --- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #StockMarket #Semiconductors #Micron #Investing #MarketOutlook #Inflation #MiltonFriedman #FederalReserve #Economics #Investing

Kelly Monahan, Co-Founder of Beyond the Desk, joins host Sima Vasa to challenge the assumption that AI is responsible for today’s workforce crisis. Kelly argues that shareholder-primacy doctrine, adopted wholesale since a 1970s Milton Friedman op-ed, created the fragile leadership culture now cracking under macroeconomic pressure — and that AI is being used as a convenient scapegoat. Kelly also covers Gen Z’s rejection of corporate theatrics, the three foundational skills for AI literacy and why the future of work is likely to be smaller, more distributed and harder to navigate without domain expertise. KEY TAKEAWAYS 00:00  Introduction. 03:50  A single 1970s op-ed reshaped business philosophy and created today’s command-and-control culture. 07:45  Predicting engagement scores from one boardroom question about trust reveals deep leadership gaps. 12:30  AI is being used as cover for bad strategy, not as the primary cause of workforce disruption. 17:20  Only 30% of Gen Z aspires to leadership, signaling a values crisis for corporate America. 23:00  The PLOT framework helps leaders share power, listen, own outcomes and extend trust to Gen Z. 27:30  Domain expertise, not tool familiarity, is the true first pillar of AI literacy in any organization. Thanks for listening to the Data Gurus podcast, brought to you by Infinity Squared. If you enjoyed this episode, please leave a 5-star review to help get the word out about the show, and be sure to subscribe so you never miss another insightful conversation. RESOURCES MENTIONED Reclaim the Plot (Kelly Monahan’s book): https://reclaimtheplotbook.com Beyond the Desk: https://www.linkedin.com/company/beyond-the-desk-llc #Analytics #Data #Strategy

Max and 99 are here for another round of Omnibus. They hit headlines on Jared Kushner’s foreign entanglements, the screwworm outbreak threatening the beef supply, a tribute to revolutionary historian Gordon Wood, and a 77-year-old who lost his life savings to a gold coin scam. Then they tackle listener emails on stopping Musk’s grift and Bernie’s proposed AI wealth fund. They rank their Top 5 people who owe them a personal apology. Enjoy! Chapters Intro 00:00:20 Headlines: 00:29:13 Emails: 01:11:55 Top 5: 01:32:14 Memberships: 01:42:45 Outro: 01:43:09 Resources The Hill: Trump officials play Biden blame game as screwworm spreads Politico: A flesh-eating pest threatens Trump’s beef price hopes Mother Jones: They Went to Jared Business Insider: A 77-year-old lost $390,000 of his retirement savings after picking up a scam call. Now he wants to help others. WSWS: A Tribute to Gordon S. Wood, Historian of the American Revolution New York Times: Scott Pelley on the Bari Weiss Era and His Last Days at ‘60 Minutes’ Business Insider: Bari Weiss was supposed to ‘restore trust’ in CBS News. It’s eroding, says CNN’s Brian Stelter. New York Times: Bernie Sanders: A.I. Is a Public Resource. You Should Own Half of It. Book Love Stephen Kinzer: The Brothers: John Foster Dulles, Allen Dulles, and Their Secret World War UNFTR Resources Episode: F*ck Milton Friedman. Video: SpaceX IPO: What They’re Not Telling Retail Investors. Episode: Dear Rebekkkah Mercer. -- If you like #UNFTR, please leave us a rating and review on Apple Podcasts and Spotify: unftr.com/rate and follow us on Facebook, Bluesky, and Instagram at @UNFTRpod. Visit us online at unftr.com. Become a member at unftr.com/memberships. Buy yourself some Unf*cking Coffee at shop.unftr.com. Visit our bookshop.org page at bookshop.org/shop/UNFTRpod to find the full UNFTR book list, and find book recommendations from our Unf*ckers at bookshop.org/lists/unf-cker-book-recommendations. Access the UNFTR Musicless feed by following the instructions at unftr.com/accessibility.Support the show: https://www.unftr.com/membershipsSee omnystudio.com/listener for privacy information.

Pete Klenow has spent his career tackling some of economics' biggest questions: Why do some countries grow rich while others remain poor? What drives long-run prosperity? And how can policy foster innovation and productivity? In this episode of Capitalism and Freedom in the 21st Century, Jon Hartley sits down with the Stanford economist to discuss Klenow's influential research on sticky prices, development accounting, economic growth, and the allocation of resources across firms and industries.  The conversation explores how economists measure the sources of growth, why misallocation can hold back entire economies, and what Klenow's research reveals about productivity differences across countries such as China, India, and the United States. Hartley and Klenow also examine the evolution of macroeconomics, the role of monetary policy, and the potential impact of artificial intelligence on innovation, productivity, and future economic growth. Recorded on June 2, 2026.  ABOUT THE SERIES Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics. For more information about the podcast, or subscribe for the next episode, click here.

Brendan Greeley is a veteran journalist from the Financial Times and current PhD student at Princeton studying monetary history. In Brendan's first appearance on the show, he discusses why he went for a PhD after being a journalist for 20 years, why the dollar's history goes far beyond America's founding, when America actually achieved a currency union, the untold origins of the dollar, how Herbert and Lou Hoover's date nights played a role in the history of the dollar, the crucial importance of Milton Friedman and Anna Schwartz in understanding the dollar's history, the happy accident of Eurodollars, what the future of dollars looks like, and much more. Watch the full length video on our new YouTube Channel! Check out the transcript for this week's episode, now with links. Recorded on May 4th, 2026 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David on X: @DavidBeckworth Follow Brendan X: @BHGreeley Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Timestamps 00:00:00 - Intro 00:01:12 - Brendan's Career 00:06:27 - How Old Is the Dollar? 00:25:24 - Where Did the Dollar Start? 00:38:11 - The Modern Dollar 00:57:08 - Future of the Dollar 01:01:59 - Outro

Spouting Off with Karen Kataline Immigration, Western Civilization, Psychiatric Drugs, and Green Energy Karen Kataline Continues the Alan Nathan Show in Alan's Memory In this episode of The Alan Nathan Show / Alan Nathan All-Stars, host Karen Kataline opens by acknowledging the untimely passing of Alan Nathan and explaining that the show continues in his memory and honor. She notes that she and Alan had often done Mondays together and says it is an honor to help continue the program during this transitional period for the Main Street Radio Network. Throughout the episode, Karen frames the broadcast as part of a new chapter while preserving the spirit, name, and tradition of the Alan Nathan All-Stars. Immigration, Libertarianism, and Sanctuary Policies Karen's first guest is the executive director of the Center for Immigration Studies, identified in the transcript as Mark Krikorian or a similar spelling. They discuss immigration enforcement, libertarian arguments for open immigration, and the tension between open borders and a welfare state. Mark argues that libertarians once aligned more closely with conservatives on taxes, regulation, and the size of government, but now often align with the left on questions of sovereignty, borders, and immigration. He cites Milton Friedman's argument that open immigration and a welfare state cannot coexist and says that while social programs can be tightened, the welfare state is not simply going away. Chicago, ICE, and Local Non-Cooperation The discussion then turns to Chicago, Cook County, and Illinois, which Mark describes as sanctuary jurisdictions. He explains that ICE is not asking local police to conduct immigration checks in the street, but to hold criminal suspects who are already arrested and fingerprinted if they are deportable, so ICE can take custody. He argues that sanctuary policies release deportable offenders back into communities and says this especially harms immigrant neighborhoods. Karen and Mark also criticize Chicago Mayor Brandon Johnson and Illinois Governor J.B. Pritzker, accusing them of interfering with immigration enforcement and downplaying violence in Chicago. Karen Reflects on Alan Nathan and the Show's Transition After the first interview and intervening ad segments, Karen returns to discuss the show's transition after Alan Nathan's death. She encourages listeners to hear the tribute program that aired over the weekend and recalls clips of Alan and his wife Jane from years earlier, describing their on-air chemistry as entertaining, lively, argumentative, and classic talk radio. Karen says it is a sad time for everyone at Main Street Radio Network, but emphasizes that the Alan Nathan Show and Alan Nathan All-Stars tradition will continue. James Hankins on The Golden Thread and Western Civilization Karen then welcomes James Hankins, described as a Harvard University historian and co-author of The Golden Thread: A History of the Western Tradition. Hankins explains that the “golden thread” is a metaphor for the Western tradition, and that the book aims to recover the history of Western civilization from the ancient Greeks and Romans through the Middle Ages and into the modern world. He argues that this history has not been properly taught in schools or universities for decades, leaving people without a shared understanding of democracy, republics, communism, socialism, and the meaning of Western civic life. Communism, Democratic Socialism, and Historical Amnesia Karen connects the discussion to contemporary politics, warning against Marxism, communism, and democratic socialism. Hankins says many people who call themselves democratic socialists do not understand what the term means or how socialism has operated historically. He argues that adding the word “democratic” does not solve the deeper problem, because socialism has not historically favored democracy. Karen and Hankins agree that many public arguments suffer because people no longer share basic definitions or historical knowledge, especially about the distinction between a republic and a democracy. Dr. Toby Watson on Psychiatric Drugs and Violence Later, Karen interviews clinical psychologist Dr. Toby Watson, who says he has worked on research and testimony related to psychiatric medications, including SSRI antidepressants and black-box warning labels. Watson says his work involves outcome research on psychotropic medications and forensic cases where people with no history of violence commit violent or self-destructive acts after taking medication. Karen asks whether antidepressants and psychiatric medications may be contributing to violence, especially in the wake of Columbine-era discussions. Watson answers strongly that SSRIs can increase suicidal thoughts and behavior and says this is acknowledged in FDA black-box warnings. Akathisia, Political Motives, and Youth Medication Dr. Watson discusses akathisia, describing it as an inner agitation or restlessness that can make people feel as though they want to crawl out of their skin. He says it can occur with SSRIs and is even more common with antipsychotics. Karen asks whether suppression of this information may be about more than money, suggesting possible political motives. Watson agrees that politics can be involved and argues that children in poverty, especially those connected to Medicaid or Medicare systems, are disproportionately medicated at higher doses even when diagnosis and symptom severity are considered. He also references Anatomy of an Epidemic and argues that long-term psychiatric drug use can contribute to disability and general decline. Gender Ideology, Violence Profiles, and Dr. Watson's Cautions Karen and Watson also discuss social contagion, gender ideology, and political violence. Karen asks about the murder of Charlie Kirk and whether the alleged killer was on psychiatric medication. Watson says he has no direct knowledge and is not involved in that investigation, cautioning that too much misinformation is circulating to make a firm claim. However, he says the suspect fits a known profile for certain kinds of shooters and that, statistically, it would not surprise him if psychiatric medication were involved. Karen closes the short segment by inviting Watson back and directing listeners to his work online. Steve Goreham / Gorham on Green Energy and Rising Electricity Prices Karen closes the show with Steve Goreham or Steve Gorham, described as executive director of the Climate Science Coalition of America and author of Green Breakdown: The Coming Renewable Energy Failure. The conversation focuses on rising electricity prices, renewable energy policies, and what Karen calls the “green new scam.” Steve argues that expensive electricity increases are concentrated in blue states that have pursued aggressive green policies, naming California, Maine, New York, Maryland, Massachusetts, and Connecticut. He contrasts those with states such as Georgia, Florida, Texas, and Missouri, which he says rely more on natural gas or coal and have seen smaller increases. AI, Data Centers, Pipelines, and Energy Reality Steve argues that green-energy policies are running into the reality of rising electricity demand, especially from artificial intelligence and data centers built by companies such as Meta, Microsoft, and Amazon. He says AI-related electricity demand requires constant 24-hour power and cannot be reliably supported by wind and solar alone. Karen and Steve also discuss the Keystone pipeline, New York pipeline politics, natural gas constraints in New England, offshore wind leverage, and the role of Trump administration energy policy. Steve closes by directing listeners to his book Green Breakdown and website. Closing the New Chapter of the Alan Nathan All-Stars Karen ends the show by saying the Alan Nathan All-Stars are heading into a new chapter, but with Alan Nathan still serving as the program's guiding star. The episode as a whole blends remembrance of Alan with Karen's political and cultural commentary, moving through immigration enforcement, Western civilization, psychiatric drugs, gender ideology, energy policy, and the future of American public debate.

Trump on a $250 bill? Bill Burr on CEO pay? New York seizing "neglected" buildings? It's Dumb Bleep of the Week, and the government is once again solving problems it helped create. In this episode of Good Morning Liberty, Nate and Chuck break down Zohran Mamdani's housing plan, rent control, public housing, Bill Burr's wage rant, CEO compensation, SpaceX "USA" chant outrage, Trump's proposed $250 bill, Ted Cruz bragging about $3.99 gas, Thomas Massie's loss, and chaos from the Libertarian Party National Convention. This is a libertarian breakdown of bad incentives, bad policy, political worship, and the endless cycle of politicians blaming everyone except the state. Chapters: 00:00 Good Morning Liberty 00:45 Dumb Bleep of the Week setup 01:45 Thomas Massie loss and black-pilled politics 04:15 Mamdani's plan to go after landlords 09:15 Milton Friedman on rent control and public housing 12:45 Bill Burr's wage and CEO pay rant 18:15 The one-armed traffic stop 22:45 SpaceX, USA chants, and fake outrage 27:30 Canada MAID gets mentioned and skipped 28:45 Trump's face on a $250 bill 33:45 Ted Cruz and $3.99 gas 35:00 Israel lobby fight and Massie campaign money 37:30 Libertarian Party National Convention chaos 52:30 Final Dumb Bleep vote and winner Watch All Episodes: https://www.youtube.com/playlist?list=PLi78svKlBr_8o0dDOX8DxO_Wwxu6WYhhA Watch Host Favorites: https://www.youtube.com/playlist?list=PLi78svKlBr__Zu40RL7mWxCuOOe54zgy2 Join the Fed Haters Club @ joingml.com All links @ gml.bio.link Subscribe, like, comment, and share. Follow on your favorite podcast app and leave a rating or review.  

Jon Hartley and Sebastian Edwards discuss Edward's time at the University of Chicago as a PhD student in the time of Milton Friedman and the Chicago School, Chile's market reforms and the Chicago Boys (documented in Sebastian's most recent book, The Chile Project: The Story of the Chicago Boys and the Downfall of Neoliberalism), Javier Milei and Argentina's prospects of reversal, renewed hope for Venezuela, and whether economic freedom and market reforms have returned. Recorded on May 7, 2026. ABOUT THE SERIES Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics. For more information about the podcast, or subscribe for the next episode, click here.

Frédéric Samama est auteur de L'énigme de l'inaction climatique et pionnier de la finance verte et alors que nous vivons un de ces épisodes de canicule aujourd'hui, il m'a semblé essentiel d'essayer de comprendre pourquoi nous savons depuis 70 ans et nous ne faisons rien. En 2009, il a monté le premier centre de recherche mondial sur la finance et le climat, lancé les premiers indices low carbone et créé la première coalition d'investisseurs à la COP21. Et pourtant, son livre ne parle pas de finance. Il parle de cerveau, d'histoire, de philosophie et d'une question qui l'obsède depuis cinq ans : pourquoi, sur un problème que tout le monde connaît, que l'on a créé, et qui nous menace en tant qu'espèce, on n'arrive pas à bouger ?Dans cet épisode, nous parlons de neurosciences cognitives, d'inférence bayésienne, de moments fromages dans l'histoire de l'humanité, et du lien entre capitalisme, néolibéralisme et perte de nos réflexes moraux. J'ai questionné Frédéric sur l'overview effect des astronautes, sur Lévinas et la philosophie du visage, sur Jean Cavaillès et la résistance, et sur ce que tout ça dit de notre capacité à réinventer nos représentations du monde face à l'urgence climatique.Citations marquantes"Sur un problème où tout le monde est au courant, qu'on a créé, et qui nous menace en tant qu'espèce — pourquoi diable, on n'arrive pas à se mettre en mouvement ?" (0:29:00)"Le capitalisme, c'est comment tu fais vivre des gens ensemble en dehors de règles morales et religieuses. Et maintenant qu'on fait face à un défi moral, qui est le défi du climat, on ne sait plus faire." (0:19:30)"Face à l'enjeu moral, c'est l'action qui doit prévaloir — et pas la réflexion de est-ce qu'on est optimiste, négatif, et ainsi de suite." (1:06:44)"On a voulu détendre le lien social. En cas de problème, il n'y a plus personne, et donc il n'y a plus de devoir — on ne demande que des droits." (0:26:30)"Le climat, ce n'est plus seulement la plus grosse menace. C'est aussi la plus belle opportunité de réapprendre à vivre ensemble, nous, les 8 milliards de personnes sur Terre." (1:12:00)Big Ideas1. Notre cerveau construit des modèles à partir de signaux — et s'y enferme L'inférence bayésienne selon Stanislas Dehaene : le cerveau observe des signaux et fabrique des lois du monde. Agassi qui lit le service de Becker, le bébé qui comprend la gravité, le rat dans le labyrinthe — tous fonctionnent pareil. Le problème : une fois le modèle établi, on arrête de le mettre à jour. On entre en surconfiance. C'est exactement ce qui se passe avec le climat : on sait, mais on ne change pas de modèle. (0:02:37)2. L'histoire humaine s'est organisée autour de "moments fromages" — et le climat en exige un nouveau Deux grandes ruptures : l'agriculture et la science moderne (accès aux ressources naturelles), puis le néolibéralisme (accès aux ressources humaines mondiales). À chaque fois, l'humanité a réorganisé ses représentations. Le climat est la première fois qu'on nous demande de limiter l'accès aux ressources — un défi sans précédent pour des cerveaux conditionnés à l'expansion. (0:07:43)3. Le capitalisme a délibérément mis la morale hors jeu Au XVIIe siècle, la grande question était : comment faire vivre des gens ensemble sans passer par la morale ou la religion, qui créent des guerres ? La réponse : l'intérêt personnel. Adam Smith, Montesquieu, Hirschman ont construit un système où l'égoïsme profite à la société. Ça a marché. Mais le climat est un problème moral (les plus faibles meurent en premier) — et on n'a plus les réflexes pour ça. (0:14:55)4. L'overview effect comme signal de bascule possible Les astronautes dans l'espace deviennent poètes. Ils voient la planète fragile, belle, vivante. Frédéric propose ces trois perceptions comme signal capable de réécrire nos représentations. La fragilité déclenche la responsabilité (Lévinas). La beauté prépare à la morale (Kant). Le vivant nous réintègre dans la nature après des siècles d'extraction. Pas un programme politique — une hypothèse sur comment les cerveaux humains peuvent changer. (0:39:00)5. Face à un enjeu moral, la question n'est plus l'espoir — c'est l'action Jean Cavaillès, philosophe-mathématicien résistant, incarne la réponse. En mai 1941, zéro espoir objectif. Et pourtant il agit — parce que face à un enjeu moral, la question n'est plus "quelle est la probabilité ?" mais "quelle est mon obligation ?". C'est la même logique que d'appeler les pompiers pour quelqu'un qui fait une crise cardiaque dont on sait qu'elle sera fatale. On agit. Pas parce qu'on espère, mais parce qu'on doit. (1:04:06)Questions poséesQu'est-ce que l'anecdote d'Agassi et Becker révèle sur le fonctionnement du cerveau humain ?Quels sont les grands "moments fromages" de l'histoire de l'humanité, et où en sommes-nous aujourd'hui ?Comment définirais-tu le capitalisme à son origine — et en quoi diffère-t-il du néolibéralisme ?Pourquoi le néolibéralisme a-t-il dissous le lien social, et quelles en sont les conséquences concrètes ?Sur un problème aussi connu et aussi grave que le climat, pourquoi l'humanité n'arrive-t-elle pas à se mettre en mouvement ?Qu'est-ce que l'inférence bayésienne nous apprend sur notre incapacité à mettre à jour nos modèles face au climat ?Qu'est-ce que les astronautes et l'overview effect peuvent nous apprendre sur comment changer nos représentations collectives ?Comment Lévinas et Kant peuvent-ils nous aider à repenser notre rapport au problème climatique ?Qui était Jean Cavaillès, et pourquoi son histoire est-elle une réponse au problème de l'inaction ?Si le signal qui change nos représentations n'est pas encore arrivé, qu'est-ce qui pourrait en tenir lieu à l'échelle de nos sociétés ?Références citéesPersonnes et penseursStanislas Dehaene — chaire de sciences cognitives, Collège de France (0:04:00)André Agassi / Boris Becker — anecdote du service et de la langue (0:02:37)Max Weber — thèse sur la naissance du capitalisme (0:13:00)Albert Hirschman — économiste, auteur sur l'origine du capitalisme (0:13:00)Marcel Enaf — sur le commerce pré-capitaliste (0:17:29)Machiavel, Spinoza, Galilée, Montesquieu, Adam Smith — généalogie du capitalisme (0:15:25)Milton Friedman — article dans le New York Times sur le néolibéralisme (0:19:54)Emmanuel Lévinas — philosophe lituanien, "le visage d'autrui" et l'éthique (0:42:44)Emmanuel Kant — la beauté, le désintérêt et la morale (0:44:30)Michel Serres — "on mesure l'ampleur d'un problème à la durée qu'il a mise à se former" (0:33:34)Robin Dunbar — nombre de 150, limite de coordination des groupes humains (0:34:22)Hannah Arendt et Karl Polanyi — fascisme comme réaction au libéralisme du XIXe siècle (1:07:50)Henri Bergson — envoyé aux États-Unis pour convaincre Wilson d'entrer en guerre (0:53:43)Président Wilson — discours d'entrée en guerre au nom de valeurs morales, 1917 (0:54:30)Jean Cavaillès — philosophe-mathématicien résistant, fusillé (1:02:11)Raymond Aron — "Si Jean Cavaillès avait vécu, j'aurais dit moins de bêtises" (1:04:06)Pierre Brossolette, Jean Moulin — résistants évoqués en parallèle (1:05:00)Concepts et événementsInférence bayésienne — mécanisme cognitif de construction de modèles (0:47:50)Overview effect — phénomène de bascule perceptuelle chez les astronautes (0:39:30)Théorie des "moments fromages" — concept central du livre (0:07:43)Bulle des tulipes — première crise financière spéculative, XVIIe siècle (0:50:23)COP21 — coalition d'investisseurs créée par Frédéric (0:27:33)Passage à l'an 2000 (bug Y2K) — contre-exemple de mobilisation rapide (0:30:00)Protocole de Montréal / couche d'ozone — résolu en 18 mois (0:51:43)Timestamps clés00:00 Introduction — Et si on se réjouissait à nouveau du futur ? Gregory présente Frédéric Semama, pionnier de la finance verte et auteur de L'énigme de l'inaction climatique. 02:37 L'anecdote Agassi / Becker Comment Agassi a découvert le code du service de Becker en s'asseyant dans la foule — et ce que ça révèle sur le cerveau humain. 04:00 Comment le cerveau construit ses modèles du monde Stanislas Dehaene au Collège de France : inférence bayésienne, le bébé, le rat dans le labyrinthe. 07:43 Les "moments fromages" de l'histoire humaine Agriculture, science moderne, néolibéralisme : trois grandes ruptures où l'humanité a réorganisé ses représentations pour accéder à de nouvelles ressources. 13:00 L'origine du capitalisme — bien au-delà de l'argent Comment le capitalisme est né comme solution à la guerre de religion : faire vivre des gens ensemble sans morale ni religion. 20:56 Tout le monde veut un village mais personne ne veut être villageois La concierge qui sauve Frédéric pendant le Covid — et le choc quand il essaie de la remercier avec des cadeaux. 27:00 Pourquoi on n'agit pas sur le climat Trois raisons structurelles : c'est la première limite à l'accès aux ressources, il n'y a pas de signal à hauteur du problème, et nos modèles sont inadaptés. 36:22 La bulle sociétale — on peut savoir et continuer quand même De la bulle internet à la bulle des tulipes : le mécanisme d'enfermement conscient à l'échelle d'une planète. 39:00 L'overview effect — les astronautes comme piste de bascule Fragile, belle, vivante : les trois perceptions que les astronautes rapportent de l'espace — et ce qu'elles activent dans le cerveau. 42:44 Lévinas : le visage d'autrui comme début de l'éthique Quand voir la fragilité de l'autre nous oblige à agir au-delà de notre instinct de conservation. 52:07 La couche d'ozone vs le climat En 18 mois, tous les pays du monde se sont mis d'accord. Qu'est-ce qui est fondamentalement différent avec le climat ? 53:43 Bergson à la Maison-Blanche La France envoie le philosophe Henri Bergson convaincre Wilson d'entrer en guerre. Il réussit. Ce que ça dit du pouvoir des valeurs morales en politique. 1:00:14 Je ne cherche pas à avoir de l'espoir Frédéric explique pourquoi la question n'est pas l'espoir — avec mai 1941 comme exemple. 1:02:11 Jean Cavaillès — le héros oublié de la résistance Fils de militaire, philosophe-mathématicien, major de Normale Sup tout seul. Et résistant. Fusillé dans une fosse commune. 1:06:29 La crise cardiaque et l'obligation morale "La probabilité que tu survives est nulle. Et pourtant, tu vas tout faire pour me sauver." Ce que ça dit du rapport entre morale et action. 1:14:54 La solution concrète : recommencer à regarder le vivant Pourquoi enseigner la vie des animaux et des plantes à l'école changerait plus de choses que n'importe quelle taxe carbone. Suggestion d'autres épisodes à écouter : #286 Le cynisme politique face à l'urgence climatique? avec Fabrice Nicolino (https://audmns.com/SHnNoJp) #292 Les enjeux de la géopolitique climatique avec David Djaiz (https://audmns.com/BoZGVQa) #178 Les technologies vont-elles nous permettre de faire face au défi climatique? avec Philippe Bihouix (https://audmns.com/ktZSlzb)Hébergé par Audiomeans. Visitez audiomeans.fr/politique-de-confidentialite pour plus d'informations.

How Government Dependency Destroys Freedom: America is being conditioned to believe dependency is compassion and success is selfish. In this episode, Professor Nicholas Giordano exposes how government growth, fraud, and victimhood politics are eroding self-reliance, capitalism, and the American spirit. From the Vance fraud task force uncovering massive abuse in taxpayer-funded programs to New York City's fiscal collapse and California's homelessness disaster, this episode breaks down how bloated bureaucracies fail repeatedly while demanding more money and more power. The conversation explores the dangerous connection between economic dependency and political control using the ideas of Milton Friedman and Thomas Sowell, while explaining why capitalism, personal responsibility, and self-governance remain essential to preserving liberty. What You'll Learn: How government dependency weakens freedom and expands political control  Why fraud, waste, and abuse are actively protected by the political class  What Milton Friedman and Thomas Sowell understood about economic freedom  How failed government programs continue growing despite terrible results  Why rebuilding self-reliance and accountability is essential to saving the republic  

The fiat money system has survived the Great Inflation, the global financial crisis, and a pandemic. But can it survive digital currencies?Bitcoin and the blockchain solved a genuine problem in computer science: how to stop people spending the same money twice. Forty years of successful inflation control means central bank money is stable; that is the stability in stablecoins, attempting to solve the volatility problem. What's next? What if the unit of account itself were indexed to consumer prices? Digitalisation might finally make that approach viable at scale. Price stability, by design.Will we still need cash? Maybe not now, But if you never use it, it may not be there if the blackout comes.The research behind this episode:Stracca, Livio. 2025. Redefining the Monetary Standard in the Digital Age: Digital Innovations and the Future of Monetary Policy. Springer Nature.To cite this episode:Phillips, Tim, and Livio Stracca. 2026. "Redefining the monetary standard." VoxTalks Economics (podcast). Assign this as extra listening. The citation above is formatted and ready for a reading list or VLE.About the guestLivio Stracca is Deputy Director General for International and European Relations at the European Central Bank, where he has worked for more than two decades. His research spans monetary economics, international finance, and the implications of digitalisation for central banking, with extensive work on exchange rates, capital flows, and the architecture of the international monetary system. Research cited in this episodeThe double-spend problem. The fundamental challenge in any decentralised digital payment system: how to prevent a participant from spending the same unit of money twice when there is no trusted central authority to verify transactions. Bitcoin's 2008 white paper offered an innovative solution by making the transaction ledger public, cumulative, and computationally expensive to rewrite. The trade-off is that transparency sacrifices privacy; every transaction is visible to all participants in the network.The blockchain. A distributed ledger in which transactions are grouped into sequential blocks, each cryptographically linked to the one before. Reversing any transaction requires rewriting every subsequent block, which demands enormous computational effort. This design solves the double-spend problem in a decentralised network but makes the system slow and costly to operate at scale.The payment trilemma. A framework discussed in the episode and in Stracca's book: any digital payment system can optimise for at most two of three properties simultaneously (universal access, security against fraudulent transactions, and privacy). Cash is the only instrument that escapes the trilemma; digital systems must accept a trade-off among the three, and the choice is often made implicitly by the designer of the system rather than through democratic deliberation.Hayek, Friedrich A. 1976. Denationalisation of Money. London: Institute of Economic Affairs. The classic argument for currency competition: let currencies compete freely and the one providing the most stable prices will win. Economists, including Milton Friedman, largely rejected the proposal on the grounds that money exhibits strong network externalities; the more people use a currency, the more attractive it becomes to the next user, producing a natural tendency towards monopoly. A formal modern revisitation, finding similar conclusions, is Fernández-Villaverde, Jesús, and Daniel Sanches. 2019. "Can Currency Competition Work?" Journal of Political Economy 127 (3): 1017 to 1058.Irving Fisher's compensated dollar. A proposal published in Fisher, Irving. 1913. "A Compensated Dollar." Quarterly Journal of Economics 27 (2): 213–235 (the same year the Federal Reserve was created). Fisher argued for a dollar whose purchasing power was held constant by adjusting its gold content in line with prices. The mechanical details of his proposal are no longer relevant, but its animating idea (indexing the unit of account to a price level) has gained new plausibility in a digital context.The Unidad de Fomento. Chile's inflation-indexed unit of account, in operation since 1967 and updated daily against the consumer price index. It is used widely in long-term contracts, including mortgages, and functions as a security that can be traded. Stracca cites it as evidence that an indexed monetary standard is operationally feasible, and as a prototype for what a digital equivalent might look like at larger scale.The Great Moderation. The period of low and stable inflation in advanced economies running roughly from the mid-1980s until the inflation episode of 2021 to 2023. Economists attribute it to improved monetary policy frameworks, particularly central bank independence, inflation targeting, and (crucially, in Stracca's account) the introduction of interest on reserves, which gave central banks precise control over the short-term interest rate without draining liquidity. Stracca treats the Great Moderation as the benchmark against which any proposed reform of the monetary standard must be judged.Programmable money. A form of digital money in which payment is conditional on an independently verifiable event, potentially confirmed by a machine rather than a human intermediary. Example: a payment that executes automatically when a delivery is confirmed by a sensor. Decentralised ledgers make such conditional payments technically straightforward; traditional banking systems can approximate them but with far greater friction. Stracca notes significant enthusiasm for programmable money but also real scepticism about whether the benefits outweigh the complexity in practice.More VoxTalks Economics episodesStablecoins and Global Imbalances, Gilles Moëc explains why we can think of stablecoins as a radical macroeconomic experiment that has arrived at exactly the moment the US external position is showing signs of stress.Can blockchain decentralise money, contracts, and finance? Bruno Biais on blockchain's potential, its flaws, and its future.Do stablecoins threaten financial stability? Richard Portes thinks so.

The Trump administration puts the squeeze on 300,000 fake college applicants and stops $60 million for going out the door in one month. Milton Friedman warned us. The deep state really doesn't want Trump to release the UFO files as new discussions about alien breeding programs are getting odd. Millions of people flock to the government's UFO website.    

Albina du Boisrouvray est philanthrope, productrice de cinéma et autrice de Naviguer l'existence. Venue d'une bonne famille, elle a donné la quasi-totalité de sa fortune à sa fondation FXB pour sortir 100 000 personnes de l'extrême pauvreté.Je connais peu de trajectoires aussi denses que celle d'Albina. Militante écologiste dans les années 70 quand personne n'écoutait, productrice de cinéma dans un milieu misogyne, candidate aux législatives en 78, et puis surtout : mère d'un fils de 24 ans mort dans un accident d'hélicoptère, celui dans lequel se trouvait aussi Daniel Balavoine. Ce que j'aime chez Albina, c'est qu'elle n'est pas dans la posture. Elle dit qu'elle ne sait pas toujours comment elle a tenu. Elle dit qu'elle a parfois tort. Elle dit que son manque d'études l'a probablement rendue plus libre que si elle avait fait l'ENA.Dans cet épisode, nous parlons de deuil, de sens, de résilience et de cette méthode qu'elle a inventée contre l'avis de tout le monde, "la graduation approach", qui transgresse la doxa du micro-crédit. J'ai questionné Albina sur les bouées qu'elles considèrent comme la colonne vertébrale de toute son existence : ne jamais se pourrir le présent pour un futur qu'on ne peut pas imaginer.Citations marquantes"La mort aura toujours le dernier mot. Mais qu'elle n'ait pas le dernier mot plus vite qu'elle devrait l'avoir.""La résilience, c'est apprendre à vivre avec. Pas s'en débarrasser. Vivre avec.""Quand j'ai vu que les gens à qui on apportait tout ça, leurs yeux s'illuminaient — ça réallumait ma propre capacité à ressentir du bonheur.""Quand on est convaincu d'avoir raison, il faut aussi questionner ça. Il faut tout questionner.""Ne jamais se pourrir le présent pour un avenir qu'on ne peut absolument pas imaginer, parce qu'il ne se passe jamais comme on l'a imaginé."Idées centrales 1. La résilience n'efface pas la douleur — elle l'intègre Titre : "Apprendre à vivre avec, pas à guérir" Albina ne dit pas qu'elle a "surmonté" la mort de son fils. Elle dit qu'elle a appris à vivre avec l'amputation. Ce décalage — entre guérir et intégrer — change tout dans la manière dont on traverse les épreuves. Cyrulnik lui a donné les mots. La vie lui a donné la méthode. Pourquoi c'est important : On vend trop souvent la résilience comme une victoire sur la douleur. Albina dit l'inverse : c'est une coexistence. Timestamp : ~07:00–10:052. Donner aux autres peut rallumer ce qu'on croyait éteint en soi Titre : "Le bonheur des autres comme carburant personnel" Ce n'est pas de la générosité romantique. C'est une mécanique très précise : quand tu vois les yeux de quelqu'un s'illuminer parce que tu lui as apporté quelque chose, ça rouvre ta propre capacité à ressentir. Albina l'a découvert au Liban en 1987, un an après la mort de François. Pourquoi c'est important : Ça retourne la question du sens — on ne trouve pas le sens en cherchant, on le trouve en faisant. Timestamp : ~20:44–21:463. La transgression comme méthode : donner plutôt que prêter Titre : "La graduation approach contre la doxa du micro-crédit" La grande transgression d'Albina : donner des entreprises aux familles au lieu de leur prêter de l'argent, et accompagner ça avec l'accès simultané à tous les droits de base. Les Nations Unies disaient que ça ne se faisait pas. Elle l'a fait quand même. Résultat : 86% de réussite, 100 000 personnes sorties de l'extrême pauvreté. Pourquoi c'est important : Quand le consensus est fort, c'est souvent le moment de questionner, pas d'obéir. Timestamp : ~13:20–18:044. Penser par soi-même contre les doxas de son époque Titre : "Quitter une réunion d'extrême gauche en 1970 parce qu'on y préparait des attentats" Elle a été militante gauchiste jusqu'au jour où elle a compris que ça menait au terrorisme. Elle a refusé le micro-crédit quand tout le monde le défendait. Elle a soutenu le maintien du nucléaire quand sa famille politique voulait le démanteler. Sa boussole : ses propres valeurs, pas les étiquettes. Pourquoi c'est important : La liberté de pensée n'est pas un droit qu'on reçoit — c'est une discipline qu'on exerce contre soi-même d'abord. Timestamp : ~45:24–48:325. Le capitalisme n'est pas le problème. Le capitalisme débridé, si. Titre : "L'offre et la demande ça fonctionne — le problème c'est quand ça sert les actionnaires plutôt que les humains" Elle fait une distinction que peu de militant.e.s de sa génération acceptent : la nature humaine n'est pas totalement oblative, il faut un intérêt pour que ça marche. Ce qui ne fonctionne pas, c'est l'article de Friedman de 1970 qui a scellé l'idée que le seul but d'une entreprise est de redistribuer des dividendes. Pourquoi c'est important : On ne changera pas le système en le refusant en bloc. On le change en redéfinissant ce qu'il sert. Timestamp : ~36:28–39:16Questions posées dans l'interviewTu dis que l'avenir a perdu ses promesses — mais pour ta génération, les 30 glorieuses, c'était le contraire. Qu'est-ce qui a changé, selon toi?Comment on traverse la mort d'un enfant sans se laisser détruire?Est-ce que c'est la douleur qui t'a poussée vers l'humanitaire, ou tu l'aurais fait de toute façon?La graduation approach était une transgression totale à l'époque. Comment tu as eu le courage de contredire le consensus des Nations Unies?Comment on fait pour ne pas laisser sa famille imposer notre destin — surtout quand on l'aime?Tu parles de "ne pas accepter les doxas de son époque" — mais comment tu sais que tu n'es pas juste en train de remplacer une doxa par une autre?La place des femmes — tu dis que rien n'est acquis. Qu'est-ce que tu dirais à une femme jeune aujourd'hui face au retour des religions et du patriarcat?Comment tu pratiques l'instant présent concrètement? C'est une philosophie ou une discipline quotidienne?Avec le recul de tes 80 ans, qu'est-ce que tu changerais dans ta manière de vivre?A quoi tu veux claquer la porte — et où est-ce que tu veux ouvrir?Références citées dans l'épisodeLivresNaviguer l'existence — Albina du Boisrouvray (fil rouge de tout l'épisode) ~00:29Indignez-vous! — Stéphane Hessel (résonance sur la capacité d'indignation d'Albina) ~25:04Livre de Boris Cyrulnik sur la résilience (titre non précisé, mais "ça a totalement résonné") ~07:38Articles / textesArticle de Thomas Friedman (journaliste) sur "l'ère du polysène" — le monde comme système complexe et non binaire ~34:03Article de Milton Friedman (économiste, NYT, 1970) — le seul but d'une entreprise est de redistribuer des dividendes aux actionnaires ~35:44Documentaire Arte sur la violence de l'extrême droite en France et en Allemagne ~54:21PersonnesDaniel Balavoine — mort dans l'accident d'hélicoptère du Paris-Dakar 1986 ~01:03François, son fils — pilote de l'hélicoptère, 24 ans ~06:55Bernard Kouchner — mission au Liban en 1987 ~20:44Professeur Jonathan Mann (Harvard/OMS) — paradigme santé publique, alerte sur les orphelins du SIDA ~11:37Mohamed Yunus — micro-crédit (admiré, mais insuffisant pour l'extrême pauvreté) ~14:15Brice Lalonde, René Dumont — militants écologistes des années 70 ~05:04André Gorz — cité rapidement comme proche des mouvements écolos ~05:03André Delvaux — réalisateur belge représenté par Albina à Cannes ~48:59Kim Chapiron — réalisateur français, propos sur la représentation des musulmans au cinéma post-2001 ~53:32Anne Chirac — avait posé des pots de fleurs sur les Champs-Élysées en réponse aux plaidoyers écologistes ~04:04OrganisationsFXB (Fondation François-Xavier Bagnoud) — fondée par Albina ~12:24Médecins sans Frontières / Médecins du Monde — Albina a été bénévole ~22:59Banque mondiale, BRAC, Ford Foundation — ont repris la graduation approach à grande échelle ~18:31ConceptsRésilience (Cyrulnik) ~07:38Graduation approach (méthode FXB) ~15:48Polysène — ère où tout est imbriqué, plus rien n'est binaire ~34:03Famille étendue africaine ~13:32Bouddhisme : "ici et maintenant" ~59:50Talmud / pil-poul : questionnement constant ~47:07Timestamps clés (optimisés YouTube)00:00 — Introduction VLAN Greg ouvre sur la question centrale du podcast : "Et si on pouvait à nouveau se réjouir du futur?" Présentation d'Albina, de son livre Naviguer l'existence et de ses 12 bouées de sauvetage.01:55 — Les 12 bouées : pourquoi des bouées et pas des clés "Les clés ouvrent des portes. Les bouées, elles te sauvent dans une tempête." Une distinction qui dit tout sur l'état dans lequel elle perçoit le monde aujourd'hui.02:05 — L'avenir a perdu ses promesses Retour sur les 40 glorieuses, l'espoir de l'après-guerre, et le moment où tout a basculé. Albina raconte comment elle portait l'alerte climatique il y a 50 ans — et comment personne ne l'écoutait, même dans les réunions politiques enfumées.06:38 — Bouée #1 : ne pas se laisser détruire par le malheur La mort de son fils François à 24 ans. Comment on tient. Ce que la résilience veut vraiment dire. Cyrulnik lui a donné les mots, la vie lui a donné la méthode.10:50 — Comment la douleur l'a conduite à l'humanitaire Un an après la mort de François, elle part avec Kouchner au Liban porter des médicaments des deux côtés de la ligne de front. Elle retrouve là, pour la première fois, sa capacité à ressentir du bonheur.13:20 — La transgression de la graduation approach En Afrique, elle comprend que son modèle occidental ne fonctionne pas. Elle invente une méthode qui transgresse la doxa du micro-crédit et choque les Nations Unies. Elle a raison.18:04 — 100 000 personnes sorties de l'extrême pauvreté 86% de réussite. La méthode FXB reprise par la Banque mondiale et BRAC. Elle a tout dépensé. Et elle continue avec des donations.24:05 — Bouée #2 : la famille et la liberté Son enfance entre Amérique du Sud et Afrique du Nord. Sa mère Quechua, son père résistant gaulliste. Comment l'absence de famille l'a paradoxalement rendue libre. Et comment elle a fait la paix avec sa mère après sa mort.33:41 — Bouée #3 : défendre la justice Néolibéralisme, Friedman, l'article qui a tout scellé en 1970. Sa distinction entre capitalisme utile et capitalisme destructeur. Et l'ère du polysène : on ne vit plus dans un monde binaire.42:09 — Bouée #5 : la place des femmes Rien n'est acquis — les États-Unis, l'Afghanistan, l'Iran. Son expérience au Festival de Cannes où deux hommes parlent d'elle comme d'un objet en direct. Et comment elle a géré un ministre qui avait fermé la porte à clé.45:24 — Bouée #9 : ne pas accepter les doxas de son époque La réunion en 1970 où elle quitte les mouvements gauchistes. Le Talmud comme modèle de questionnement permanent. Et pourquoi être convaincu d'avoir raison, c'est souvent le premier signe qu'on a un peu tort.52:56 — Bouée #8 : s'autoriser à penser par soi-même Les imaginaires des films américains post-2001, l'islamophobie ordinaire, les extrêmes qui identifient de vrais problèmes mais proposent de mauvaises solutions.58:36 — Bouée #10 : ne jamais se pourrir le présent La bouée centrale. Comment elle pratique l'instant présent concrètement — son chat le matin, la gentillesse des jeunes dans la rue. Les petits cadeaux de la vie qu'on rate quand on est dans la projection.01:00:57 — Ce qu'elle dirait aux jeunes en pleine course à la réussite 80 ans résumés en quelques phrases : ne pas mettre la réussite économique comme seule priorité. Rester ouvert aux autres. Saisir les moments de bonheur.01:06:49 — VLAN : claquer la porte sur la haine Elle veut claquer la porte sur toutes les formes de haine — islamophobie, antisémitisme, haine du voisin. Et elle termine sur une surprise : la gentillesse des jeunes qu'elle croise dans la rue, à Clichy et ailleurs. Suggestion d'autres épisodes à écouter : #346 Retrouver du pouvoir dans le chaos avec Matthieu Dardaillon (https://audmns.com/yOgbycm) Vlan #73 La vieillesse ne ressemble à rien de ce que vous pensez avec Perla Servan Schreiber (https://audmns.com/JrdGWwO) #377 Pourquoi l'avenir appartient aux sociétés solidaires? Avec Pablo Servigne (partie 1) (https://audmns.com/WMxgIMf)Hébergé par Audiomeans. Visitez audiomeans.fr/politique-de-confidentialite pour plus d'informations.

Former U.S. Congressman Bob Inglis joins Brian Nichols to make the "conservative" case for a carbon tax and why most Republican voters keep rejecting his free-market climate proposal. Inside, we dig into the Raise Wages Cut Carbon Act, the Milton Friedman defense of pricing pollution, and the border adjustment mechanism Inglis says could force China to follow America's lead on emissions.We expose the structural cracks in the "revenue-neutral" carbon tax pitch... why the social cost of carbon swings from $42 to $190 depending on who's running Washington... and the uncomfortable fact that every country that's tried this policy has either repealed it, rioted over it, or rejected it at the ballot box.Is this really the free-market answer to climate change... or just a federal Trojan horse dressed in Milton Friedman quotes? What happens when "revenue-neutral" becomes a moving target? And why are libertarians the ones cutting emissions while bureaucrats are still chasing the perfect tax rate?Stick around for the 13:54 mark when I ask Bob to name ONE federal tax in American history that stayed revenue-neutral... the 25:00 moment when we lay out why this policy has failed everywhere it's been tried... and the 40:32 stretch where we expose the fact that US emissions dropped 20% in 15 years - without a carbon tax.Subscribe and hit the bell so you never miss an episode of The Brian Nichols Show. Visit briannicholsshow.com for show notes, guest links, and past episodes. And huge thanks to our studio sponsor Cardio Miracle - the best heart health supplement on the planet. Visit cardiomiracle.com/TBNS and use code TBNS for 15% off your order. New episodes drop every Thursday at 9PM ET.CHAPTERS:0:00 - Intro2:37 - The Trip To Antarctica That Cost Him His Seat10:33 - The $42 To $190 Carbon Tax Problem13:54 - Name ONE Tax That Stayed Revenue-Neutral?17:38 - The Hidden Government Growth Nobody Talks About25:00 - Why Do Carbon Taxes Keep Failing Everywhere?40:32 - We Cut Emissions 20% Without Them?46:46 - Where To Find Bob + republicEnStudio Sponsor:Cardio Miracle (w/ 15% off discount) - ⁠https://cardiomiracle.com/TBNS⁠Bob Inglis / republicEn:republicEn.org - ⁠https://republicen.org⁠The Brian Nichols Show:Website - ⁠https://briannicholsshow.com⁠X/Twitter - @BNicholsLibertySubscribe on YouTube, Rumble, Apple Podcasts, Spotify, YouTube MusicContact - ⁠brian@briannicholsshow.com⁠Mentioned In Episode:The Raise Wages, Cut Carbon Act of 2009 - Bob Inglis legislationMilton Friedman on Phil Donahue (1980s pollution tax clip) - available at republicEn.orgJFK Profile in Courage Award (2015 recipient: Bob Inglis)Merchants of Doubt documentary - features Inglis Learn more about your ad choices. Visit megaphone.fm/adchoices

Former U.S. Congressman Bob Inglis joins Brian Nichols to make the "conservative" case for a carbon tax and why most Republican voters keep rejecting his free-market climate proposal. Inside, we dig into the Raise Wages Cut Carbon Act, the Milton Friedman defense of pricing pollution, and the border adjustment mechanism Inglis says could force China to follow America's lead on emissions. We expose the structural cracks in the "revenue-neutral" carbon tax pitch... why the social cost of carbon swings from $42 to $190 depending on who's running Washington... and the uncomfortable fact that every country that's tried this policy has either repealed it, rioted over it, or rejected it at the ballot box. Is this really the free-market answer to climate change... or just a federal Trojan horse dressed in Milton Friedman quotes? What happens when "revenue-neutral" becomes a moving target? And why are libertarians the ones cutting emissions while bureaucrats are still chasing the perfect tax rate? Stick around for the 13:54 mark when I ask Bob to name ONE federal tax in American history that stayed revenue-neutral... the 25:00 moment when we lay out why this policy has failed everywhere it's been tried... and the 40:32 stretch where we expose the fact that US emissions dropped 20% in 15 years - without a carbon tax. Subscribe and hit the bell so you never miss an episode of The Brian Nichols Show. Visit briannicholsshow.com for show notes, guest links, and past episodes. And huge thanks to our studio sponsor Cardio Miracle - the best heart health supplement on the planet. Visit cardiomiracle.com/TBNS and use code TBNS for 15% off your order. New episodes drop every Thursday at 9PM ET. CHAPTERS: 0:00 - Intro 2:37 - The Trip To Antarctica That Cost Him His Seat 10:33 - The $42 To $190 Carbon Tax Problem 13:54 - Name ONE Tax That Stayed Revenue-Neutral? 17:38 - The Hidden Government Growth Nobody Talks About 25:00 - Why Do Carbon Taxes Keep Failing Everywhere? 40:32 - We Cut Emissions 20% Without Them? 46:46 - Where To Find Bob + republicEn Bob Inglis / republicEn: republicEn.org - https://republicen.org The Brian Nichols Show: Website - https://briannicholsshow.com X/Twitter - @BNicholsLiberty Subscribe on YouTube, Rumble, Apple Podcasts, Spotify, YouTube Music Contact - brian@briannicholsshow.com Studio Sponsor: Cardio Miracle (w/ 15% off discount) - https://cardiomiracle.com/TBNS Mentioned In Episode: The Raise Wages, Cut Carbon Act of 2009 - Bob Inglis legislation Milton Friedman on Phil Donahue (1980s pollution tax clip) - available at republicEn.org JFK Profile in Courage Award (2015 recipient: Bob Inglis) Merchants of Doubt documentary - features Inglis Learn more about your ad choices. Visit megaphone.fm/adchoices

Dean Karayanis, New York Sun columnist and former Rush Limbaugh staffer, takes the helm of the Derek Hunter Podcast, bringing his signature historical perspective to the chaos of modern politics. From the "shoot-to-kill" raid on Mar-a-Lago to the selective morality surrounding Joe Biden's classified documents, Dean breaks down why the "will of the people" is often a hollow excuse for undermining the Constitution. Plus, a look at the "Crusader" ambition of Congresswomen Alexandra Ocasio-Cortez, the rising fury of the "Essex Man" in Britain, and a masterclass from Milton Friedman on why inflation is a hidden tax you never voted for but always pay. Selective Transparency: A deep dive into the DOJ's efforts to block the release of Joe Biden's audio tapes and the stark contrast in how the media and government treat document scandals depending on the last name of the politician involved. The "Parchment Guarantee": Using the wisdom of Justice Antonin Scalia, Dean explains why a "living, breathing Constitution" is a threat to liberty and why the judiciary must remain insulated from the "will of the people." AOC vs. The Establishment: An analysis of Alexandria Ocasio-Cortez's recent interview with David Axelrod, exploring her "Crusader" mindset and why Republicans fail when they underestimate her political connectivity. The "Essex Man" and Global Populism: A cautionary tale from the UK, where hardworking citizens are abandoned by both parties in favor of open borders and "colonization," leading to a surge in support for Nigel Farage. Inflation 101: Vintage clips from Milton Friedman explain the "hangover" of government spending. Dean argues that inflation isn't caused by unions or oil sheiks—it's made in Washington.

Tyler Goodspeed is the former chairman of the Council of Economic Advisors and is currently a chief economist in the private sector. In Tyler's first appearance on the podcast he discusses his new book highlighting a different way of looking at recessions, the challenge of breaking away from the human inclination of ascribing patterns to random phenomena, whether recessions are more Dorian Gray or Peter Pan, what history and stories like Jay Cooke tell us about recessions, how to evaluate supply side shocks and the 2008 Financial Crisis, why Milton Friedman's Plucking model might be the best we have at modeling recessions, and much more. Watch the full length video on our new YouTube Channel! Check out the transcript for this week's episode, now with links. Recorded on April 15th, 2026 Subscribe to David's Substack: Macroeconomic Policy Nexus Follow David Beckworth on X: @DavidBeckworth Follow the show on X: @Macro_Musings Check out our Macro Musings merch! Timestamps 00:00:00 - Intro 00:00:43 - Recessions 00:07:07 - Epiphanies or Apophanies 00:26:40 - Peter Pan vs. Dorian Gray 00:33:40 - Jay Cooke and the Railroad 00:39:00 - Models of Recessions 00:47:55 - Supply Shocks 00:50:12 - Recessions in Different Places 01:00:25 - Outro

“It was a completely unthinking exercise in cost-cutting that made no sense in terms of the newspaper. I think perhaps if you want to destroy the newspaper, it made sense.” — Simon Elegant on being ‘eliminated' by the Washington Post Hong Kong in 2019. A dismembered body is found in a landfill. A disgraced police superintendent is called back from internal exile to solve it. The city around him is burning. Rather than a John Woo movie, this is the setting for a Simon Elegant thriller. Born in Hong Kong, former Beijing bureau chief for Time magazine, most recently the Washington Post's man in China until Jeff Bezos “eliminated” him three months ago — Elegant has written the definitive Hong Kong novel. First and foremost, City on Fire: A Novel of Hong Kong is a crime thriller. Superintendent Killian Tong — half-Chinese, half-Irish, loved by no one in his department — investigates a murder while his sister is noisily demonstrating on the other side of the barricades. But the book doubles as a compressed history of Hong Kong: from Palmerston's “barren rock” in the 1840s — seized from China after the opium wars — through the ninety-nine-year lease, the handover in 1997, and the slow strangulation of the “one country, two systems” promise. Elegant is neither a hardline China hawk nor an apologist for Beijing. Yes, he credits the British with a relatively enlightened administration — from its public housing to the uncorrupt civil service that inspired the Singapore model. But he is also clear about what happened after 1997. Hong Kong people assumed Beijing would honour the Thatcher-Deng terms, and then discovered, to their horror, that they had no rights. It was a silent coup rather than a gaudy takeover of power. And so the 2019 protests — when a million people went onto the streets — are not just a backdrop to City on Fire but also the real-life stage on which Hong Kong burnt. Five Takeaways •       Enlightened Colonialism — With Caveats: Was Hong Kong an example of enlightened British colonialism? Elegant says: relatively, yes. The administration was light-handed. The public housing was so good that Singapore copied it. The civil service was — after 1972, when they had to create the ICAC following a police corruption scandal — genuinely clean. Milton Friedman praised the free-market model. But it was also racialized: the upper levels were almost entirely white Anglo, and the Chinese were largely excluded from administrative power. Governor Jock MacLehose changed this. Enlightened colonialism, Elegant concludes, is not a contradiction in terms — but it is relative. Compared to the Belgian Congo, Hong Kong was paradise. •       One Country, Two Systems: A Promise Broken: The terms negotiated by Thatcher and Deng in the 1980s guaranteed Hong Kong's autonomy until 2047. Hong Kong people assumed these terms were real and would be adhered to. They were not. The first attempt to pass a national security law came in 2004. There were mass protests in 2014. In 2019, a million people — in a city of six million — were on the streets. Beijing's choice was not between crushing them or not. It was between blood in the streets and a silent coup. They chose the silent coup. The national security law of 2020 was the final instrument. There is no longer any meaningful “one country, two systems.” •       The Policeman as Moral Complexity: Elegant's decision to make his protagonist a policeman — rather than a protester — is the novel's central artistic choice. Superintendent Killian Tong is not a villain. He is a man caught between institutions he has served his whole life and a conscience that knows what's happening is wrong. His younger sister is on the other side of the barricades. The murder investigation forces him to confront not just the crime but the system that made it possible. Elegant wanted to write about moral complexity, not propaganda — and the only way to do that was to give the story to the person most implicated in the system. •       Bezos ‘Eliminated' the Washington Post's Foreign Staff: Simon Elegant's final paycheck from the Washington Post used the word “eliminated.” He was one of 35-40 foreign correspondents let go in a single exercise — one of the biggest foreign staffs at any American newspaper. No one, he says, can explain what the thinking was, or if there was any. Every person he meets in Washington has cancelled their subscription. The Post still has excellent national security reporters, but in terms of foreign coverage it is, Elegant says, “doomed.” His conclusion: “perhaps if you want to destroy the newspaper, it made sense.” •       Hemingway's Iceberg, Applied: What did writing fiction teach Simon Elegant after a career in journalism? The iceberg principle, which Hemingway described: seven-eighths of a book — the knowledge, the research, the reported detail — should sit below the waterline. Only the tippy-top should be visible. The weight of the knowledge gives the visible surface its authority. The book started at 128,000 words — every reported detail jammed in. By the third or fourth round of cuts with the editor's blade, it was 75,000. The lesson: don't jam in your entire notebook. Fiction goes more directly into the heart. It bypasses the brain and seeks a different truth. About the Guest Simon Elegant is a journalist and novelist born in Hong Kong. He was Beijing bureau chief for Time magazine and most recently China bureau chief for the Washington Post. He is the author of City on Fire: A Novel of Hong Kong (Pegasus Crime, May 5, 2026), A Floating Life (Ecco/HarperCollins), and A Chinese Wedding (Piatkus). He is based in Kuala Lumpur. References: •       City on Fire: A Novel of Hong Kong by Simon Elegant (Pegasus Crime, May 5, 2026). •       Episode 2870: Eyck Freymann on Defending Taiwan: A Strategy to Prevent War with China — the companion episode on Taiwan and the growing China crisis. About Keen On America Nobody asks more awkward questions than the Anglo-American writer and filmmaker Andrew Keen. In Keen On America, Andrew brings his pointed Transatlantic wit to making sense of the United States — hosting daily interviews about the history and future of this now venerable Republic. With nearly 2,900 episodes since the show launched on TechCrunch in 2010, Keen On America is the most prolific intellectual interview show in the history of podcasting. WebsiteSubstackYouTubeApple Pod...

Paris Marx is joined by Ben Tarnoff and Quinn Slobodian to discuss their new book Muskism which explores how Elon Musk exemplifies a new economic system shaping our lives, similar to Fordism in the twentieth century. Ben Tarnoff & Quinn Slobodian are the authors of Muskism. Ben is a writer and technologist based in Massachusetts and the author of Internet for the People. Quinn is professor of international history at Boston University, and the author of books like Crack-Up Capitalism. Tech Won't Save Us offers a critical perspective on tech, its worldview, and wider society with the goal of inspiring people to demand better tech and a better world. Support the show on Patreon. The podcast is made in partnership with The Nation. Production is by Kyla Hewson. Also mentioned in this episode: For listeners who are feeling extra academic, here is the Milton Friedman economics paper, “The Methodology of Positive Economics.” Quinn discusses his struggle to find any reporting on Jared Leto and the Optimus robot media stunt (that goes deeper than commenting on the virality).

Jon Hartley and Phil Gramm discuss Graham's career as an academic economist at Texas A&M, his service in the US House of Representatives and in the US Senate, and his work on the Gramm-Rudman-Hollings and Gramm-Leach-Bliley legislation. Graham also talks about his recent books on the role that economic freedom plays in economic growth, as well as various fallacies surrounding the rise of inequality in the US. Recorded on April 28, 2026. ABOUT THE SERIES Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics. For more information about the podcast, or subscribe for the next episode, click here.

Economists and politicians have turned him into a mascot for free-market ideology. Some on the left say the right has badly misread him. In this updated replay of a 2022 episode, we hold a very Smithy tug of war.   SOURCES: Eamonn Butler, co-founder and director of the Adam Smith Institute. Glory Liu, a political scientist and Adam Smith scholar at Georgetown University. Mariana Mazzucato, professor in the economics of innovation and public value at University College London. Dennis Rasmussen, a professor of political science at Syracuse University. Russ Roberts, president of Shalem College in in Jerusalem; host of the EconTalk podcast; and author. Craig Smith, Adam Smith Senior Lecturer in the Scottish Enlightenment at the University of Glasgow.   RESOURCES: Adam Smith's America: How a Scottish Philosopher Became an Icon of American Capitalism, by Gloria Liu (2022). "Henry and Adam: A Deep and Special Friendship," by Benny Higgins (Adam Smith Panmure House Perspective, 2020). "Rescuing Adam Smith From Myth and Misrepresentation," (The Economist, 2018). The Infidel and the Professor: David Hume, Adam Smith, and the Friendship That Shaped Modern Thought, by Dennis C. Rasmussen (2017). How Adam Smith Can Change Your Life: An Unexpected Guide to Human Nature and Happiness, by Russ Roberts (2014). "British Privatization — Taking Capitalism to the People," by John Moore (Harvard Business Review, 1992). Free to Choose: A Personal Statement, by Milton Friedman and Rose Friedman (1990). The Essential Adam Smith, edited by Robert L. Heilbroner (1986). An Inquiry into the Nature and Causes of the Wealth of Nations, by Adam Smith (1776). The Theory of Moral Sentiments, by Adam Smith (1759).   EXTRAS: "In Search of the Real Adam Smith," series by Freakonomics Radio (2022). Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Keith shows how simple buy-and-hold real estate can be a powerful path to long-term wealth.  He explains how the tax system and inflation often reward property owners—especially those with fixed-rate debt and rental income—turning modest rent increases into outsized gains in cash flow. Keith also explores how broader economic forces and neighborhood trends shape real estate markets, and why even an extra $1,000 a month in passive income can meaningfully increase your freedom, reduce reliance on a single job, and move you closer to financial independence. Episode Page: GetRichEducation.com/603 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  FAMILY to 66866  Unlock truly passive real estate income—visit flockhomes.com/GRE today to see if your properties qualify for a 721 exchange with Flock Homes. 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  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. Learn how rent inflation makes real estate investors wealthy. Do certain grocery stores in your neighborhood stoke real estate prices, then how just $1,000 of extra monthly cash flow can be surprisingly life changing. Today, on get rich education,   Keith Weinhold  0:24   Let me ask you something, if you've worked hard to build wealth, is your money positioned to actually support your goals? A lot of accredited investors leave capital sitting in cash because it feels safe, but inflation and missed income opportunities can quietly erode its value. Freedom. Family investments offers freedom notes for investors seeking structured income backed by real estate. It's a straightforward approach built on real assets, not speculation and full disclosure. I'm an investor myself. What I like is that their team walks you through how it all works, so you can decide if it aligns with your portfolio and income goals. Every investment carries risk and nothing is guaranteed, but with a track record of consistent on time investor payouts, they built real credibility. Go to freedom. Familyinvestments.com to book a clarity call or text. Family 266, 866, that's family 268, 66   Speaker 1  1:28   you're listening to the show that has created more financial freedom than nearly any show in the world. This is get rich education. You Chris,   Keith Weinhold  1:44   Welcome to GRE I'm your host. Keith Weinhold, it's the show that coined the phrase real estate pays five ways. This is get rich education. You learned how to work at your job. The reason we're here is to make you aware that capital compounds labor doesn't, and that's almost why you have to be an investor today. A couple weeks ago, we had tax day in the USA, and that's not quite a holiday. Virtually no one celebrates it. Yes, here in our 250th year of existence as a nation that erstwhile mentioned semi quincentennial. How did America go from fighting a revolution over a 2% tax on a breakfast beverage at the Boston Tea Party to what we pay today? Have you really processed what this has come to now we're taxed when we earn money, taxed when we spend it, taxed when we save it, taxed when we invest it, even taxed when we die with it. And that's just the start. Think about your typical day, your routine. We commute to work in a car, were taxed to register driving on roads. Were taxed to build fueled by gas that's taxed again and then often paying tolls on top of that. Well, those taxes are supposed to maintain the infrastructure, like bridges, highways and tunnels, but yet, they already have billions of taxpayer dollars allocated to them. Then we arrive at an office that's taxed to exist inside a business that's taxed to operate that requires permits and licenses that act like other layers of taxation. When we finally get our paycheck, our employer matches payroll taxes on top of our wages, just incredible. And at the end of the day, we go home to a property we're taxed to own every single year, purchased with income that was already taxed in the first place, and somehow all of this is considered normal. Here's the turning point. Most people when they realize this, feel frustrated and saddened and even victimized. But instead, real estate investors flip the frame from victim to strategist, the same system that taxes seemingly everything quietly rewards those who own assets through depreciation, we report a loss even when the property produces real cash flow. Last week, I told you how you can specifically lower your property taxes step by step, then through mortgage interest and operating expenses, we can reduce that amount of our income that's even taxable at all through long term leverage, we're often repaying debt with inflated dollars, while our tax burden stays surprisingly low, and then it gets even more power. Powerful, more advanced real estate investors use a cost segregation and bonus depreciation to pull years of deductions forward into today. And it's something that's not really that sophisticated or tough to understand either. And then when we sell a property 1031, and 721, exchanges help us defer the capital gains tax. And when you start to think about it, could these turnabouts even get us patriotically excited for a dare I say, semi quincentennial.   Keith Weinhold  5:36   our system of taxation, it can feel punitive. Some high earners lose more than 55% of their income to taxes, both federal and state. Real estate investors don't just earn gains in income. We reshape it. We continue to thrive in a tax system that rewards ownership. Not only is wealth built from owning things rather than having a high salary, tax breaks are gained by owning things rather than having a high salary. And now it's somewhat common knowledge that war leads to inflation. The latest Middle East conflict entails a lot of military spending, and it's been made worse by disrupting an energy producing region. Four weeks ago, I told you about why wars are inflationary and just how bad it can get. That is why the first major wartime inflation reading that we got was so telling. And wow, inflation grew at the fastest annual rate from one month to the next since the pandemic spike back in 2022 it went from 2.4% up to now 3.3% just like that. And with more inflation poised to come along, even if the war winds down, and I want to talk more about how this benefits you shortly. And yes, if you're a newer listener, you're not used to inflation benefiting you, but it benefits the educated and the aware. GRE listener. And first, here's what fewer people pay attention to. M2 money supply that's jumped 4.8% annually to a record of almost $23 trillion now the money supply, this is the 24th consecutive monthly increase the supply was only about $5 trillion back in 2000 10 trillion by 2012, 15 trillion in 2020, and then the pandemic made the money supply explode, and it's almost 23 trillion today. And what does this all mean that the US dollar is losing purchasing power at a historic pace, because, look, inflation is actually not rising prices. The thing that's now up to 3.3% the CPI. Rather, inflation is an expansion of the money supply. It inflates. That is the very etymology of the word people often overlook that. That's why I'm talking about the historic expansion rate of the money supply, and how that can show up in higher prices later. High prices are not inflation. Rather, they are a consequence of inflation. And I want to tell you more about what this means to you, and explain how this builds your wealth in a new way. But first, I mean, my gosh, have you been as flabbergasted about inflation as I am, just at the consumer shelf and aisle level in a store, and I'm a guy that likes to spend money, yet I've got to say sticker shock. It still gives me pause when I'm in a store, even on the cheapest of items, I recently went inside a gas station convenience store after I filled up a regular size York Peppermint Patty, 1.4 ounces cost $3.19 this consequence of inflation has left me slack jawed, but already was a Slack jaw however, has it left you slack jawed? All right, let me tell you about how the wildly overpriced York Peppermint Patty makes real estate investors rich in their sleep. Did you know that the classic economist, Milton Friedman, discussed the concept of get rich. Education's inflation, Triple Crown, essentially. Now we didn't call it that. In fact, he discussed it before GRE existed in 2014 let's listen into this. Friedman won a Nobel Prize in 1976 I'm going to guess that this is him speaking in about 1980 essentially, he. Discuss the first two crowns, which are also the ones that homeowners with a mortgage benefit from which are asset price, inflation and debt debasement. This is about two minutes in length.   Speaker 3  10:11   If I ask people, are you in favor of inflation or not? Everybody is against inflation. But when I explore a little bit further, if I say to people, tell me, have you gained from inflation? Oh, no, you say I haven't gained. And yet, the fact is that a great many people have gained from inflation. There are many, many people who have benefited. Of course, the major gainer from inflation is the federal treasury, as I've already said, but almost everybody who has bought a home in the past 30 years has gained from inflation. He was able to borrow on a mortgage, which inflation has paid off, along with paying off the government debt, so that almost all homeowners in this country are beneficiaries from inflation. Indeed, one of the things that makes inflation such a bad social disease is precisely that it tends to be divisive, because some people do very well during an inflation period, and some people do very badly. And as a result, the population gets split into people who are seeming in great prosperity and people who are in great distress. When most people say they want to stop inflation, what they mean is that they want the prices of the things they buy to go down and the prices of the things they sell to go up. But since what one man sells is what another man buys, that's a neat trick, if you can do it. And as a result, people aren't really serious when they say they want to stop inflation, certainly not in the early stages, not before they fully understand, not before it's gotten to the point where it is really creating serious social problems. Everybody wants to stop inflation at somebody else's expense.   Keith Weinhold  12:11   That was classical macro economist Milton Friedman discussing the rarely talked about benefits of inflation. He also served as an advisor to President Reagan and to British Prime Minister Margaret Thatcher Friedman extolled the virtues of free markets and minimal government intervention. Well, yeah, he discussed the first two crowns of get rich, education's inflation, triple crown. So let me discuss the third one, because you benefit from this when you rent out property. And what's interesting about what I'm going to tell you is that this example is going to make it more apparent than it ever has to you, that rent inflation makes landlords rich in their sleep. In fact, the positive effect on you is even greater than I thought I double checked these numbers I'm about to share with you before I came on the air, because I didn't expect this high of a degree of cash flow enhancement. And also, I was talking about what I'm going to show you on YouTube earlier, and it generated a negative, biting comment from a viewer. I'll tell you about that, but yeah, I showed this to a guy that's been investing in real estate for 36 years, and he didn't even understand this. Here it is with general monetary inflation. Rent inflation is a consequence. So let's keep this simple. Say that you charge rent of $2,000 and that could very well be a realistic rent amount for a single family rental property that our GRE investment coaches help you find today, although the average is probably a little less than that. So in any case, $2,000 rent. When you subtract out your fixed rate mortgage payment of $1,000 and your operating expenses of $800 This leaves you with $200 of monthly cash flow. We'll say that's your scenario today. Next rents rise 3% This means you're getting $2,060 now. Doesn't sound so exciting, yet your mortgage payment stays locked in at $1,000 inflation can't touch it. That's the key to this. Your operating expenses also rise 3% up to $824 This leaves you with cash flow of 236 okay. So what happened there is your cash flow went from 200 up to 236 that's not a 3% gain, inflation gain 3% this is an 18% increase in your income. 200 up to 236, an 18% cash flow spike off just a tiny rent adjustment will extrapolate that effect. Right across your portfolio. I mean, this is like your annual income going from 100k up to 118k and then compounding like that every single year. That is power, because inflation couldn't touch your fixed mortgage payment. And this is something I've explained before. It's the third crown of get rich education's inflation Triple Crown called Cash Flow enhancement. But it's a better example than I've ever had for it, and it's a germane time to talk about it with inflation on the rise again. Now here's an angle. Does what I just explained feel wrong in any way. The thing is, you aren't fleecing your tenant. It's just an adjustment to inflation, a little 3% bump to them, a big 18% difference to you. You didn't get rich off your tenant. You got rich because, again, you're leveraging the bank's money, but you're doing it in a way that most people don't see or think about and of course, mortgage free owners lose this entire benefit. It is just another way that real estate investors get rich in their sleep. Yet few ever understand how. But like I said, I was talking about this on YouTube just a little bit ago, and a commenter simply wrote, this makes you a bad person.   Keith Weinhold  16:27   Now, the viewer of GRE YouTube channel, sometimes it's you, but you know, sometimes it's someone that doesn't listen to this audio show here, where we do more learning, the casual or occasional YouTube viewer. They just probably don't understand all of what you do. But yes, like me, you have probably run into people out there that think that landlords are bad because they charge tenants rent and they adjust the rent as their expenses rise. And some of these people even say something like, I believe housing is a human right. I seem to hear that more and more, okay, that's one thing, but they imply that the taxpayer should pay for their housing. I mean, does that even work over time? You can see how often government provided housing fails and it ends up being exorbitantly expensive when the free market prevails. Instead, you know, I think that this sentiment has gotten a little worse because of the K shaped economy, more people having to sleep in their cars makes those people resentful. America, you know, we're in better shape when we have a strong middle class. What can really help you a lot is if you haven't yet. Finally, watch the three part video series, the inflation triple crown. The video really helps reinforce your learning well, because it's helpful to show numbers on screen, like you can in a video. You can watch that directly by going to get rich education. COMM, slash inflation, Triple Crown, or shorter. You can just go to the abbreviated get richeducation.com/itc, it takes you to the same place. It really shows you how to optimize your income increases and do it the right way. I mean, if someone thinks you're a bad person for raising the rent 3% commensurate with 3% inflation, well, you know what? Then if that person is an employee, should they also feel bad for getting a 3% pay raise at work? Well then they should, right, because they're charging their employer 3% more for their services as an employee. Well, of course, that's okay. So that sentiment doesn't make one bit of sense, all right. Well, let's temper the 3% rent inflation that I used in our example here. There's both bad news and good news around this, because today, rent increases are below average nationally. In fact, Zillow has forecast only a 1.1% rent increase in single family rentals this year. And then the good news is that the average rent increase since 2020 is 6% and we only used 3% in our example. The bottom line here is that few real estate investors ever have the epiphany that cashflow enhancement is yet another significant way that inflation makes them wealthy, and it's just another reason why carefully selected simple buy and hold. Residential real estate makes people wealthy. Just buy and hold you don't have to dig in and do a bunch of aggressive value add or get into a niche like self storage or short term rentals or assisted living homes that you sure can do those things. And there's nothing wrong with niching down. You just don't have to, and sometimes we even discuss those nichey vehicles here on the show. In fact, we've done four episodes on assisted living homes, but it's hard to beat the relative passivity and the durability of simple buy and hold residential not the latest hot thing, not speculation, but just what's proven. But you have to understand these forces and then act on them. I mean, I gave an example there of $200 in cash flow, and since that's only the most visible component of the five ways real estate pays. When you add it all up, you might be getting $1,500 of monthly benefit on a single family rental property that only costs 300k 1500 a month on a 300k property that you might have only put 20% down on. And for that 1500 a month, it might only take one hour per month of your asset managing of your property to get that $1,500 of benefits. So that is $1,500 an hour. That's great, but it's only one hour a month, and that's exactly what makes you want to scale with buy and hold property as soon as you get into a lot of real estate niches, which, again, it can be worthwhile, whether that's self storage or assisted living homes or something like that. Well, now it's more like an active business that you have to run, and you're probably going to spend substantially more hours there. But yes, a guy that's been investing in real estate for 36 years. Did not understand cash flow enhancement from Rent inflation until I showed this to him and watch it all. He watched the three part video series, which, again, you can watch for free at get rich education.com/inflation. Triple Crown or shortened simply, get rich education.com/itc. Open it up now and watch it later, because I'm back with more next. I'm Keith Weinhold on episode 603 of get rich education.   Keith Weinhold  22:13   Flock homes helps you retire from real estate and landlording, whether it's one problem property or your whole portfolio through a 721 exchange, deferring your capital gains tax and depreciation recapture. It's a strategy long used by the ultra wealthy. Now Mom and Pop landlords can 721 the residential real estate request your initial valuation, see if your properties qualify@flockhomes.com slash GRE that's F, l, O, C, K, homes.com/g R, E,    Keith Weinhold  22:49   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   Tarek El Moussa  23:23   What's up? Everyone? This is hgtvs Tarek El Moussa. Listen to get rich education with Keith Weinhold, and don't quit your Daydream.    Keith Weinhold  23:30   Welcome back to get rich Education. I'm your host. Keith Weinhold, I'm here in Las Vegas today and staying at the Bellagio with a terrific fountain view room. Yes, the paradox of having a giant water show every 30 minutes in the middle of the Mojave Desert, as it is today, just up the street at the Venetian the big Bitcoin 2026, conference kicks off. I might attend some of the sessions, and I might not. While I'm here in Vegas, I'm more focused on spending time with my brother's family. I know I've mentioned to you before that they live in nearby Henderson, Nevada, and I come here pretty often. You could call me a real estate investor. That's crypto curious. I own a little Bitcoin because I think it has some compelling value propositions as well as a number of problems. I think, like a lot of people, I have more questions about Bitcoin than I do answers, and each time I get a new answer, it just prompts three new questions. Now I plan to shop at Trader Joe's shortly. I'm kind of a weirdo here in Vegas, in the sense that I don't gamble, and rather than eating every one of my meals out, I like to be a little healthy shop at a grocery store and bring good food back to the fridge in my room. Well, how? Do certain grocery store chains impact local real estate prices. And you might have heard about this before, but there's a good new study about it that just appeared in the USA Today. And I kind of like the USA Today, because you can easily find a USA Today article where a columnist wrote a story about me as well. But what happened is an analyst matched more than 32,000 store openings to property prices over 50 years. And one conclusion found that homes in the same zip code as a trader joe's saw their values rise about 6% faster than the national average over three years. Another study found that over five years, home prices near Trader Joe's rose by 49% compared with 45% for homes near Whole Foods and 58% near Aldi. I wouldn't have expected that Aldi is a low cost bargain grocery store. Now there are a couple twists here. First, a higher end grocery store, like Whole Foods, that might very well correlate with a good, more affluent neighborhood, sure, but it also might reflect the fact that home values are high, and that usually is not profitable for long term rentals. And the other takeaway is that grocery stores don't actually cause price appreciation. Instead, they reflect it. These grocery chains, they really invest heavily in site selection, so their presence signals that an area was already trending upward, even before a Trader Joe's arrives in an area, the median household income in a neighborhood hovers around $82,000 and that was the highest in the chains that were studied with a typical home value of 425k and the flip side is also pretty noteworthy, the study found that Walmarts tend to be built in neighborhoods with an average household income of only $49,000 and home values of under 200k plus the home price appreciation Proximus to a Walmart, it ends up trailing the national average by 4% over three years. So really, can we say then that the K shaped economy runs through the grocery aisle? I want to get back to discussing your wealth shortly, but first, let's have a checkup on the economy that you're invested inside every day. Over the past year, the US economy has continued to do well, which has surprised some people, some saying that the economy seems to defy gravity. I mean, look at this point. It has withstood chaotic tariff changes, labor supply shocks, swings to the stock market and then a kinetic war on top of that. And how is it pulling this off? Probably starting with AI investment, including all the data center building you see taking place technology innovation and a consumer that you know, it's funny all these consumer surveys where the consumer feels negative, probably because they keep seeing higher prices, but yet, even though they feel negative, oh, they just keep spending more anyway, the unemployment rate is still really low. The AI build out is significant, and that drives jobs and rents and incomes realize, though, this is a new infrastructure build out. This is substantial, just like railroads in the internet were, and companies racing not to fall behind in the AI boom, that's exactly what fuels the economy and productivity and therefore supports real estate. It's similar in spirit, to the.com boom, really, but this time, there's real revenue, and it ALL Fuels wage growth, which is an antecedent to rent growth. And by the way, have you ever noticed how economists and corporations, they're so addicted to growth in the notion of growth, that if something goes down in value, they call it negative growth. What is negative growth? That's always been a funny phrase to me. Don't you mean a decline? Negative growth? That's kind of like calling growth a positive decline. That's nonsense. Some people are allergic to saying that something is a dip or decline, so instead, they say that it's negative growth. That's sort of like how companies they don't want to say that they're undergoing a round of layoffs instead of layoffs. Oh, they say that we are right sizing. She should just tell it like it is. Now, when it comes to building your wealth, this. Say that you're more of a beginning real estate investor, say that your income from your job is 100k and you might wonder, if I add, say, five properties each with $200 a monthly cash flow, that equals $1,000 a month. That's an extra 12k per year. You know, that really isn't that much of a lifestyle difference. You know, even though there are four other ways real estate pays, let's just talk about this. That's only 12k per year, on top of 100k You know, I contend that that really does make quite a difference. Okay, if your real estate cash flow gets up to 1k a month, and you might only spend four hours a month managing that. It matters more than you think, because of your 100k of job income. All right, after all, your expenses are taken care of, like you pay for your housing, your transportation, your Trader Joe's, groceries, all of that stuff that you spend on. Well, what's left over your discretionary income? That might only be $2,000 per month. So if you add 1000 to that, that is a 50% increase in your discretionary income. What really matters? That's why real estate cash flow is actually a bigger deal than a lot of people think. You just bought back your time. This can help you replace a second job. This can let you cut back hours or even fund a sabbatical buffer for beginners. That's why even a kind of paltry sounding $1,000 a month in cash flow from, say, five rental doors that can actually be a life changer. When you get right down to it, it really starts to change your control over your time, and an extra $1,000 a month can, of course, help fuel your next investment, if you so choose. But that's not all. A psychological shift begins to happen inside you. You're no longer dependent on one income source. This is really the underrated one, because before $1,000 of real estate cash flow, a job loss that could mean stress and urgency and bad decisions, but afterward, now you have margin. Now you're making better decisions in life. You negotiate better you think longer term. That shift alone improves your entire life. And what else can just 1000 a month do for you an extra 1000, it can give you lifestyle upgrades without guilt. Let's say you do spend some of it that can fund travel without touching savings, that can give you better housing or a better location, that can give you experiences instead of a life of what feels like just bills. And here's the key, it does not cannibalize your future. Just $1,000 a month gives you options, like we say around here, don't live below your means. Grow your means. I mean, if you're a beginner, this is something that you could have in less than a year. That extra 1k that comes whether you work that day or not. And for a more advanced investor, you can imagine what multiples greater than 1k per month do. So can you see how everything compounds here? Capital compounds labor doesn't earlier, I discussed how even a 3% rent bump can increase your cash flow 18% all right, and then your cash flow has a greater impact than you thought, because it is discretionary income where a small change can make a world of difference in your life. And when you layer all these things together, it almost makes you wonder why more people aren't real estate investors. Well, most people just have not had it explained to them this way before, and then other people give up after starting in real estate because they don't buy the right property in the right market.    Keith Weinhold  34:16   Here at GRE we really help you avoid those mistakes. And in fact, let me give you an example of what I mean. This can really help. Redfin reports that national home prices have jumped up again, rising 2.1% annually, but yet, a place like Florida, they still have year over year housing price declines, not negative growth declines, and that's due to a temporary overbuild, like I've talked about before. But Cape Coral, Florida homes that area has been hit harder than most with more building than most places, they're actually down in price 3.8% it looks like an opportunity, and people say they want an opportunity. What they really want is certainty, and once certainty arrives, the opportunity is gone. Winners often embrace the heterodox. They're willing to lean into the sort of uncomfortable, mildly contrarian, awkward moment right when others are hesitating, some Florida brand new property builders. They're getting creative, and the translation to creative is that they are motivated. They're offering to throw in the kitchen sink and the backsplash. Here's one example, a duplex in Cape Coral, Florida. The listing price is 550k it's in an A class neighborhood. The rent is 3890 both sides of the duplex are already leased, six beds, four baths. It's 2474 square feet. The down payment you can expect to make is 25% the projected cash flow is up to $1,096 per month. Yeah, you've potentially got your surprisingly life changing 1k in cash flow in one fell swoop here and here's where it gets interesting, a 3.75% mortgage rate, buy down and one year of free property management. They're either giving you that or take $25,000 cash instead and structure your own advantage. All right, that's what this certain builder is offering. Now, a reputable builder, in fact, they've been a guest on the show here before. You can push the envelope a little further than that. I encourage you to make an offer below the list price on these property types. Yes, offer lower than the 550k how much lower should you go? That's where a free chat with our investment coach gives you an inside edge, because, see, they know what other offer amounts were accepted previously by these sellers, so they know where the real flexibility is, and they've got all kinds of what I'll call specific deal knowledge like this that you're just not going to find anywhere else. Our coaches can also help you with other inventory, if it better meets your personal objectives than something like a Florida new build duplex. Usually, those places are in the Midwest and South, from Ohio out to Missouri and Georgia out to Texas. In full disclosure, what I just described is a better deal than any Florida properties that I personally own myself. Now it is clearly a buyer's market in Florida. We're in that fleeting window where long term demand is strong, short term supply is high, and builders are motivated. So take the free consult, or maybe no properties are right for you. Once our coach learns more, if you're interested, we can help you structure a smart offer. Talk to us. We can help you build an entire portfolio, if you so choose, and find the right markets and properties with a management solution, we've got the team and the contacts, you can make your process easier than guessing and figuring it out on your own. Often like to leave you with something actionable at the end of the show. I encourage you, if you think it's right for you, book time with a friendly GRE investment coach@greinvestmentcoach.com you can find an open slot on their calendar and book it again@greinvestmentcoach.com Until next week, I'm your host. Keith Weinhold, don't quit your Daydream.   Speaker 4  38:54   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  39:14   the pre preceding program was brought to you by your home for wealth, building, get richeducation.com  

Jon Hartley and Niall Ferguson explore Niall's career, the power of networks in his books The House of Rothschild volume one (1998) and volume two (1999), and The Square and the Tower (2017); the rise and fall of empire in his books Empire (2003) and The Great Degeneration (2013), America's global role in his book Colossus (2005), and the enduring legacy of Adam Smith on the 250th anniversary of The Wealth of Nations—as well as the Anglosphere, economic growth, and the rise of 21st-century socialism. Recorded on March 23, 2026. ABOUT THE SERIES Each episode of Capitalism and Freedom in the 21st Century, a video podcast series and the official podcast of the Hoover Economic Policy Working Group, focuses on getting into the weeds of economics, finance, and public policy on important current topics through one-on-one interviews. Host Jon Hartley asks guests about their main ideas and contributions to academic research and policy. The podcast is titled after Milton Friedman‘s famous 1962 bestselling book Capitalism and Freedom, which after 60 years, remains prescient from its focus on various topics which are now at the forefront of economic debates, such as monetary policy and inflation, fiscal policy, occupational licensing, education vouchers, income share agreements, the distribution of income, and negative income taxes, among many other topics. For more information about the podcast, or subscribe for the next episode, click here.

¿Estamos programados para ver solo la crisis? En este capítulo de Tertulia y Dinero, nos sumergimos en la psicología del empresario venezolano y el contraste radical con la visión del inversionista extranjero. Mientras el sesgo local se queda en el lamento, el capital de afuera está viendo una Venezuela donde "casi todo está por hacer". Analizamos por qué sectores como los seguros, el mercado automotriz y el consumo masivo tienen un potencial de crecimiento explosivo para quienes sepan leer los "dolores" del mercado como oportunidades de negocio.Lo que aprenderás en este episodio:Mentalidad de oportunidad: Cómo pasar de la queja a la acción estratégica para ganar cuota de mercado.Gerencia basada en datos: Por qué el entorno no es excusa si no dominas las cifras básicas de tu nómina y cuentas por cobrar.Casos de éxito: Desglosamos por qué modelos como Cashea y Venemergencia triunfaron donde otros solo veían obstáculos.El futuro del Estado: El debate sobre las Alianzas Público-Privadas (APP) y el modelo de vouchers educativos de Milton Friedman para rescatar el sistema públicoLa Píldora

In part two of Red Eye Radio with Gary McNamara and Eric Harley, we discuss the notion of greed from the liberal left featuring a classic audio clip from Milton Friedman on the Phil Donahue Show. We point out the comparison of not being greedy by simply having a successful business versus the left's greedy agenda of 'taking what you have' and hiking tax rates. Also the Washington state legislature votes to spike tax rates on luxury homes priced over 2 million dollars and the latest on the Iranian war and the opening of the Strait of Hormuz. For more talk on the issues that matter to you, listen on radio stations across America Monday-Friday 12am-5am CT (1am-6am ET and 10pm-3am PT), download the RED EYE RADIO SHOW app, asking your smart speaker, or listening at RedEyeRadioShow.com. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Most people associate Adam Smith with free markets and “the invisible hand”. But does this conventional narrative purposefully ignore Smith's deep suspicions about monopolies and power?  Georgetown assistant professor Glory Liu argues this narrow interpretation is actually a deliberate historical reconstruction. In her book, “Adam Smith's America”, Liu reintroduces the famous philosopher as a theorist of power who worried deeply about organized wealth distorting society. She notes that Smith watched early merchants use their disproportionate resources to capture political influence and actively suppress workers.  Hosts Luigi and Bethany debate whether early merchant wealth accumulation truly mirrors the massive capital concentration seen in today's corporate landscape. They also explore the argument that reintroducing moral foundations to economic theory might provide a better foundation for capitalism itself. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Glenn kicks off the show by discussing two major developments overseas, including Israel's Iron Dome and India's alleged seizure of oil tankers tied to Russia and Iran, which Glenn argues is signaling India's pivot toward the West economically, strategically, and on security matters. Glenn argues this is evidence that America is reversing course and becoming the leader of the free world once again. Glenn discusses the latest scandal involving Microsoft founder Bill Gates and accusations of stepping outside his marriage. Glenn admits he was wrong about something. Glenn admits he's finally come around to President Trump's use of tariffs after seeing how he uses them to advance America's economic interests. Did Elon Musk just suggest AGI is coming and that means you shouldn't save for retirement? Glenn makes the case for why it's time for America to eliminate the income tax. Glenn plays a video of American economist Milton Friedman, who lays out how he would handle taxes, as Glenn warns of the dangers of a universal basic income. Glenn takes a call from his audience about AI data centers.  Learn more about your ad choices. Visit megaphone.fm/adchoices

On Wednesday's Mark Levin Show, processed foods should be defended against their common portrayal as dietary villains. About 100 years ago, mass urbanization, poverty, and lack of refrigeration made fresh food scarce, expensive, and prone to spoilage or contamination in cities, leading to widespread issues like foodborne illnesses, malnutrition, and short life expectancy. Processed foods, including canning, pasteurization, and preservatives, emerged as a critical solution to feed growing populations safely and affordably, preventing starvation and reducing risks from rancid items. While some synthetic additives may have downsides, they are far safer than historical alternatives like rotten eggs or swill milk. Also, our ​military ​personnel deserve ​our ​respect ​and ​our ​gratitude. They stand ready to act on orders from President Trump to protect current and future generations from Iran. Ordinary Americans strongly support the military, unlike Marxists, Islamists, woke individuals, neo-Nazis, and isolationists. Isolationism against evils like Islamism, Communism, and fascism is suicidal. Later, decades ago Landmark Legal Foundation and other patriot lawyers litigated school choice, starting in Milwaukee, Wisconsin. They represented a black liberal state representative, Polly Williams, and her constituents in the city's poorest areas, advancing an idea originated by the late Dr. Milton Friedman. The program aimed to let money follow inner-city students—primarily minority and black children—out of failing, crime-ridden, union-controlled, government-run schools to better options, including participating private schools. Despite fierce opposition from Democrats, the NEA, AFT, NAACP, and others, the effort succeeded through multiple victories at the Wisconsin Supreme Court and twice at the U.S. Supreme Court over years. These wins, achieved alongside key colleagues and heroes, established school choice as one of the greatest civil rights victories in modern times, without which it would not exist. Learn more about your ad choices. Visit podcastchoices.com/adchoices