Podcasts about reading railroad

Dimitri and Khalid dive into the heart of the Molly Maguire story in 1870s Schuylkill County, Pennsylvania, including: the simultaneous rise of the first successful labor union for miners (Irish-Catholic John Siney's Workingmen's Benevolent Association) and the charismatic Irish-American (Protestant) industrialist wunderkind Franklin B. Gowen, Gowen's sinister HOTGAF plans for the Reading Railroad (crushing the independent owner-operators, bribing the State Senate, price-gouging everyone, implying the WBA is controlled by a murderous global Irish-Catholic cabal), the brutal Long Strike of 1875, bloody clashes between Irish workers and Nativist "vigilance committee" death squads, the two-year infiltration of Irish Pinkerton detective James McParlan into the innermost circles of the Molly Maguires, and more. For access to premium SJ episodes, upcoming installments of DEMON FORCES, and the Grotto of Truth Discord, become a subscriber at patreon.com/subliminaljihad.

Pennsylvania Militia open fire on civilians and striking railroad workers. Originally aired: January 27, 2022.Support the showwww.laborjawn.com

Firebrand speaker and author of “Killing Sacred Cows”, Garrett Gunderson, joins us to discuss wealth mindset and value creation. Also, Keith touches on the impact of falling interest rates on various loans and the economy noting that lower rates can benefit savers and investors. Historical data shows that home prices have only fallen 6 times in the last 83 years, signaling the rarity of significant price declines.  Learn about the Rockefeller method, which involves using trusts and whole life insurance to preserve and grow wealth. Garrett advocates for investing in real estate, businesses, and intellectual property rather than mutual funds or ETFs. DM Garrett on Instagram to receive a free copy of his book on the Rockefeller method. Resources: GarrettGunderson.com or  Alon Instagram @garrettbgunderson Join our upcoming GRE live event right here! - ‘New Turnkey Properties with ZERO Money Down' on Thursday 10/24. Show Notes: GetRichEducation.com/522 For access to properties or free help with a GRE Investment Coach, start here: GREmarketplace.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.  You get paid first: Text FAMILY to 66866 For advertising inquiries, visit: GetRichEducation.com/ad Will you please leave a review for the show? I'd be grateful. Search “how to leave an Apple Podcasts review”  GRE Free Investment Coaching: GREmarketplace.com/Coach Best Financial Education: GetRichEducation.com Get our wealth-building newsletter free— text ‘GRE' to 66866 Our YouTube Channel: www.youtube.com/c/GetRichEducation Follow us on Instagram: @getricheducation Complete episode transcript:   Automatically Transcribed With Otter.ai     Keith Weinhold  00:01 Welcome to GRE. I'm your host. Keith Weinhold, talking about what falling interest rates really mean to you. 10 years of the GRE podcast, politics are overrated. How often do home prices fall? The latest in AI generated podcasting and then wealth mindset and wealth preservation all today on get rich education.   00:27 Since 2014 the powerful get rich education podcast has created more passive income for people than nearly any other show in the world. This show teaches you how to earn strong returns from passive real estate investing in the best markets without losing your time being a flipper or landlord. Show Host Keith Weinhold writes for both Forbes and Rich Dad advisors, and delivers a new show every week since 2014 there's been millions of listener downloads of 188 world nations. He has a list show guests and key top selling personal finance author Robert Kiyosaki, get rich education can be heard on every podcast platform, plus it has its own dedicated Apple and Android listener phone apps build wealth on the go with the get rich education podcast. Sign up now for the get rich education podcast, or visit get rich education.com   Corey Coates  01:12 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  01:28 Welcome to GRE from Evansville, Indiana to Victorville, California and across 488 nations worldwide for an entire decade of your life now, this is Get Rich Education. I'm your host. Keith Weinhold, what does it mean that we're in an era of falling interest rates from the recent peaks, rates of all types have fallen. Mortgage rates have fallen. The Fed funds rate has fallen, and that prime rate has fallen too. I mean the prime rate that you pay, that's basically the Fed funds rate plus 3% and why the prime rate matters to you is that can affect credit cards, home equity loans, automobile loans and small business loans, every one of them down, down, down. So to any savvy investor that knows what's going on in the 21st century? This can mean celebration for your wallet, for your finances. And look in old days, lower rates, that would be bad news, not good news. And why is this? Well, in olden days, and some people still have an outdated mindset, lower rates are bad because savings accounts used to make sense back in the day, and lower interest rates means lower rates for savers on their bank, savings accounts. Yeah, those 5% online only savings accounts are going to four and a half with the Fed's half point rate cut last month. Well, 100 years ago, you could be a saver. That made some sense, because their interest rates could reliably beat inflation over time, but not today. Today, since inflation transfers wealth from lenders to borrowers and inflation redistributes wealth from savers to debtors. For those like us that understand this and act accordingly, we are indeed the beneficiaries of lower interest rates. Now, there are other effects out there in the economy. Cheaper loans could lead to more m&a activity, more mergers and acquisitions that can benefit investment banks like your Goldman Sachs that facilitates those transactions. Well, what happens to real estate prices amidst lower interest rates? What happens is that they tend to rise now here on the show, you remember that since 2022 I have discussed what has surprised a lot of people. Amidst rising interest rates, the environment that we used to have, home prices tend to rise. And it has happened again. When mortgage rates tripled, prices kept right on rising. So you might wonder, well, wait a second, which is it or I'm confused, amidst rising interest rates, home prices rise and amidst falling interest rates, home prices rise too. And the answer is yes, look at history over hunches. To our newsletter readers, I recently sent you that great chart, a table, I guess it showed the national home price, rate of appreciation or depreciation for every single year, going back to World War Two and from 1942 until today, those 83 years, how many times do you think that home prices fell over the last 83 years? There were exactly six, six of the last 83 years, only six where home prices fell. Paradoxically, interest rates don't have much to do with home prices, and this is all per Case Shiller statistics. Over the last 83 years, there were only six down years. 72 were up. Five were even. And of those six down years in the last 83 five of the six down years were tied up in a once. I mean, it took a once in several generations confluence, a cataclysm of events to occur during the global financial crisis, 2007 to 2011 all at once. Back then, it was a housing supply, surplus, disgustingly lawless mortgage market, cheap credit and a preponderance of debt in the banking system since World War 2, 83 years ago, there was only one other year when home prices fell, that was 1990 when they fell by 1%. If you're waiting for Home prices to fall substantially, it is super unlikely that that is going to happen. Just look at history, and today's market has more than the housing shortage in loads of protective homeowner equity, which means low delinquency rates, and we have permanently inflated higher prices baked into replacement costs of all kinds, land, architecture, engineering, permitting, regulation, labor, building, equipment, construction materials all over the place, but us, you know, as real estate investors, we might be more interested in rent appreciation than prices just four years ago, you know, just then to pay $2,000 to rent a single family home. I mean, that was quite a nice place in the Midwest and South. And today I have modest single family rentals built 50 years ago that are about 1200 square feet, and now they rent for $2,000 $2,000 a month's rent that is common today, and we are rooting for rents to appreciate faster than home prices. And if you want to get our newsletter, you're probably on that list by now, and reading it, I just send some of the best charts in real estate maps to you. You can sign up free right now. Just do it while it's on your mind. Text GRE to 66866, that's text GRE to 66866, for our Don't quit your Daydream Letter. Political season is heating up. We are at a time where we are one month from a general election, and that means we're electing a new president, vice president, 1/3 of the Senate, the entire house of representatives and various state and local officials. Yes, politics matter. Politics affect real estate. So why don't I discuss this more here on the show. Well, I explained that to you a while ago. It gets divisive, and it rarely affects people as much as they think. And as you know, I avoid even using words like Democrat, Republican, left, right, conservative and liberal. And why do I do that? Because they are divisive terms. The problem isn't so much politics. It's when people get infected with the partisan mind virus. Yes, they put party over country. For example, a partisan political instigator will swear to god that the economy is great now, but as soon as, say, a different party wins an election, even if the economy is the same, although now say that that same economy is awful. In fact, a couple years ago, I quit my job as a writer for a publication that you've heard of before. I no longer contribute to them. They put party before country, in my opinion, I wrote an article for them about two years ago, and my article made it sound like an eminent recession was a question, not a foregone conclusion. Well, the editor let me know that their consensus of writers feels like a recession is eminent and that I need to change my article to reflect that that's because they don't like the administration that's in power, so I quit rather than edit my article. I mean, if you just ask an American the question, this question, do you wish that America were less divided? Well. Any sane person would answer that question, yes. Well, then why would you go attach divisive labels to the other side and attack them? It makes no sense. That's where the division comes from. So really, it ought to be about solutions and ideologies and not political parties. So this is another reason why, during political season, I don't play those games, and we stick to investing the economy and wealth mindset. I mean, virtually no other country in the world drags out their presidential election cycle this long. I mean, it's like a year and a half. Remember all those debates last year and names like Nikki Haley and Vivek Ramaswamy that were in the news all the time. I mean, other countries get this entire process over with in six weeks. Let's take a page from them, and that way we can have more constructive things in our news cycle.  Well, I am coming to you from the makeshift mobile GRE studio today, like I do some weeks, because this morning, I woke up in reading Pennsylvania. Reading is, in fact, my birthplace, and besides being the pretzel capital of the United States, one way that you know about reading is from the Reading Railroad property in the board game Monopoly. Yeah, it's one of the properties that you can buy and, I guess, collect rent on. And, you know, here we are a real estate show. So maybe it's appropriate that the namesake of my birthplace is immortalized as a property on America's best known real estate game. And it also might be appropriate that I'm back here because the 10th anniversary of the launch of this show is nigh this coming Thursday, on October 10, 1010, it will be 10 years since episode one of this show. And yes, the math, I suppose, checks out, because there are about 52 weeks in a year, and you are listening to episode 522, right now. Well, listen to this. This could blow your mind. Have you heard an AI generated podcast? And I don't just mean sort of where a robot reads a blog in monotone and then you listen to that audio file that's embedded in the article. No, that's not what I'm talking about. Here's what I mean. A few weeks ago, I learned that macroeconomist Richard Duncan, who was the first ever guest on this show back in 2014 Gosh, all these tie ins to GRE 's origins today? Well, Richard published some PDF charts, and he uploaded them to notebooklm.google.com, that's how you find this. And he clicked generate audio overview, and within three minutes, it had created a podcast with two virtual people having this pretty intelligent, engaging and even humorous conversation about his presentation on interest rates. I mean, wow, just listen to the first minute or minute and a half of this AI generated podcast here. And again, this is from about a month ago. So they're talking about the upcoming Fed rate cut that did indeed happen.   13:23 All right, ready to dive in. Today, we're tackling the big question everyone wants to know, will the Fed actually cut rates on September 18? It's the question on everyone's mind, for sure, and more importantly, for our listeners, what's it going to mean for them to help us unpack this whole thing. We're looking at this report. It's by economist Richard Duncan, called why the Fed will cut September 12, 2024. Duncan always brings unique perspective. He cuts right to the chase, which I appreciate. right! So let's jump right in. Duncan starts by talking about inflation, which, let's face it, we've all been feeling the heat from this past year. Yeah, it's been a wild ride. Inflation hit a pretty brutal 9% last year. I think my grocery bills are still recovering. Oh yeah, tell me about it. But the latest number shows down to 2.5% that's both by the CPI and importantly, the PCE Price Index, right? And that PCE is the one the Fed really keeps their eye on, exactly, which is why I wanted to ask you about that. Why is the PCE like the golden child for the Fed, why not just stick with the CPI? Everyone knows that one. well, It's all about getting the most accurate picture of inflation. Think of it like this. The CPI is like taking a quick glance at prices. You know, just a snapshot in time. Okay with you, but the PCE, that's more like a movie. It captures how our spending habits change as prices change, and that gives the fed a better look at those underlying trends driving inflation. So it's like the CPI with a little bit of a crystal ball. It's trying to anticipate what's going to happen. It's got it okay? So inflation seems to be cooling down, which is good news, right?   Keith Weinhold  14:56 Gosh, that's just really good, a totally realistic sounding AI generated podcast just from some PDF files. The macro economist Richard Duncan uploaded remarkable and you know that the quality of that is only going to get better. That's probably about as bad as it's ever going to be right there. And in fact, in another 10 years, listeners could find it rather cute or quaint that we find this remarkable today. A big thanks to Richard Duncan for allowing us to play that and also expect Richard to be back here with us on the show again before the year ends, and here on the 10th anniversary week of the GRE podcast, you know, it makes me wonder how expendable my job as podcast host is going to be. I hope that I'm here with you in another 10 years, and I completely plan to be.  Well  episode number one of the get rich education podcast back from 2014 is called your abundance mindset. So it's apropos to visit a mindset topic today I'm going to do that with firebrand Speaker This week's guest, Garrett Gunderson. Here shortly, do you want to live a life that is small and safe and sheltered? I doubt that you really do, but you know, safe decision after safe decision, that's what most people end up doing. Do you want your kids to live a small, safe, sheltered life? I mean, most parents want safety for their children, but they're going to have an outsized impact on others when they study and then take the right risks. We're discussing those types of wealth creation mindsets with Garrett. He's a really talented guy. He was last with us six years ago. He's done some stand up comedy. Many have remarked that Garrett looks like Jesus Christ. He's the author of some popular books, including killing sacred cows. Let's talk to Garrett. This week's guest is a pretty well known author and speaker. He helps you make, keep and grow your money to help you live your best life. He's an especially dynamic speaker, public speaker, and I'm confident that you'll be able to hear that on the show today, because he has a great knowledge base, and he speaks with this conviction on topics that make him so compelling. Hey, it's been a few years. Welcome back to GRE Garrett Gunderson.   Garrett Gunderson  17:38 good to be back. I thought that was a very honest, like, pretty well known, like, I'm not really well known pretty well. That's just enough to annoy my wife. Like, I'll be going through an airport and someone come over and talk to me, and she's like, ah, but I love it, dude. I love conversations with people that I don't know, and I just get to meet because if they engage in my work, it gives us a chance to connect. And sometimes it makes me look cool to my kids, which is always a good thing. You know what I'm saying, like my son will be with me and someone say, hey, love killing sacred cows, or, Hey, are you that guy on YouTube? I'm like, it could be me, or you might be thinking, I'm Jesus. You know what I'm saying. I look familiar, though.   Keith Weinhold  18:14 Yeah. Now you can tell your kids that I said you are pretty well known. And you know, Garrett, you're also a really keen and perceptive person. You can tell if somebody's poor within 60 seconds of what they say. Tell us about that.   Garrett Gunderson  18:31 Oh, man, that video has so much hate. Man. I put that out like it was my son's filming, and I'm just sitting in our kitchen, and I was just thinking about a conversation I had earlier that day, and in the conversation, it was like, more about complaining about the world, saying that they couldn't afford things, saying they didn't have the time, blaming everyone for their situation. And I was like, man, it's pretty easy to tell. And 60 seconds, I mean, I guess maybe is a rash statement, because maybe it takes three minutes or 300 seconds, like five minutes, and get deep enough, but you just find that there's a certain language to poverty, and whether that's just poor in spirit, whether it's poor in mind, or whether it's poor in the bank account, typically it's devoid of personal responsibility. It's leading the levels of inspiration. And this isn't to say that if you're wealthy, that you only speak inspiring conversations. I mean, I complain sometimes that happens. I get frustrated. I get disappointed in myself for not being nicer to a customer service person and like, have to really manage that sometimes. But ultimately, it's this language that is almost like a Marxist type of language, you know, that comes from a place of like, I want this. I'm owed that we deserve this. And I'm like, wait, wait, wait, like, who's going to produce that? And so it's something that's a fairly easy thing to detect with just a few questions. Like, if I'm given one question, I can tell in 60 seconds for sure.   Keith Weinhold  19:57 Yeah. I think a lot of times people start complaining. About something. People find money a scarce resource when they start, you know, complaining about gas prices or something like that, I think that's just really a classic one. It tells me where they're coming from. I mean, it tells me what their mind is occupying.   Garrett Gunderson  20:12 Right.  And if we're not excited about our future, if we're not developing our skill sets, if we're not really engaged in the world of value creation, it's easy to get frustrated about tax it's easier to get frustrated about inflation. It's easier to get complaining about interest rates or loan rates and all those kind of things. But what I find is the best way to outpace inflation is through skill set, and if we truly invest in ourselves and invest in other people so that we increase our quality of life and our enjoyment of it along the way, we increase all the skill sets that matter. You've mentioned that I'm a decent public speaker and that I'm articulate. That comes from going through writing courses and hiring speaking coaches and just getting the reps and doing comedy and the things that will help me to become a more effective communicator. And then it's really about becoming a better cash flow investor. I know that you teach people a lot around, you know, real estate and investing, and that's one of the big three assets in my mind, that helps people generate and create cash flow. But most people are trapped in this indoctrination where they set money aside and forget it. They wait for 30 years and hope for the best. They're very one dimensional of just paying off a loan and then hoping the retirement plan is going to get them there. And that's why they end up in this mindset where they're like, oh, I don't feel in control, because the outcome of my income is something that's dictated by the economy and not my own willpower, not my own skill set, not my own value creation. And I think that's why retirement is such a bad and faulty notion. My main statement in life is create the life you don't want to retire from. Now, I get it. In the industrial age, people need to retire because they were being worked to death and they weren't living for very long. It was an immensely valuable concept back then, a blue to collar world back then? Yeah, right. But in today's world, what if people just invested more time in selecting your career that mattered or had enough faith and took a leap on themselves to start becoming a better investor or start a business or be an entrepreneur where they get upside potential, instead of just begging for safety and security, instead of just wanting the entitlement of benefits, instead of just trading time for money, like that's an industrial age concept that we watched, whether it's our parents or grandparents, go through trading time for money, but we're in a world where that's not required any longer, because we do have technology, we do have artificial intelligence, we do have these things that are starting to displace The jobs that no one really wants to do because it beats down the body, and there's a lot of opportunity for those that are willing to grasp it and go for it, but it comes down to one key thing, value creation. And if we're going to be devoid of value creation, it's easy to tell in 60 seconds whether someone's poor because value creation was not part of their concept or their purview.   Keith Weinhold  22:40 And value creation is about expanding that upside. And a lot of poverty mindsets just complain about the downside their expenses. And you can't really do that much about your expenses. You can only lower them so much. Anytime you do, you're probably diminishing your quality of life anyway. And really, I think a lot of this mindset of lack Garrett comes back to the fact that, simply, most believe that money itself is a scarce resource. I probably believe that at one time, when I was younger, maybe you did too. And as I like to say, although I wasn't the first person that said it, the only place that you get money is from other people. So most people, which tend to be employees, think their way to increase their income is only if their employer gives them a raise, or maybe if they find a new employer that pays them maybe 10% more, or something like that. So they're limiting their upside over there because they think money's a scarce resource, because it's got to come from an employer. Somehow they're not thinking about, why don't you really expand your upside and start an Amazon business, or rent cars through Turo or Airbnb rentals, or what we do here at get risk education, help people with long term housing rentals. So it just kind of comes back to the fact that, you know, people's mind is closed off, and they just simply want to believe that money is a scarce resource.   Garrett Gunderson  23:57 They're adding to computer screens as we talk about this, you know, I mean, there's never been more money in the world than there is today. It's the most money there's ever been. We keep adding it. There's, you know, so much of it out there. But even if they stopped printing it, or they stopped adding it to balance sheets, there's an infinite number of times they can exchange hands. So if we use it to buy computers and clothes or food and shelter or entertainment like comedy and concerts, the more times money exchanges hands, the more values created. It's exchange that facilitates and creates wealth in the way that we create exchanges, serving others, solving problems and adding value. And here's the deal, we can have two parties do exchange with one another and both end up wealthier. It doesn't need to be a win, lose transaction. As a matter of fact, when people transact, they agree that what they bought was worth more than their money, or if they sold it, they agree that the money was more than what they sold. Otherwise they would have kept it. We don't do equal exchange. I wouldn't give you $1 for $1 right? There's no reason to exchange. It's unequal, which means, if you can provide something more efficiently than. I can for myself. I can pay you, which frees up my time to do what I most efficiently and effectively can do. I did triathlons because I was an idiot back in the day. Sorry for those triathletes, which is like a lot of work, man. And I don't love swimming, but I remember going to buy a triathlon bike. I just bought, like, a road bike. It was a big upgrade from having a huffy from Walmart, you know, like, oh, this $4,700 this is a while back, but it was carbon fiber. It was, like, amazing. And I thought, you know, I could never build this. So this $4,700 is actually really cheap, because I'm giving him $4,700 to build something that I can then go build something like write a book or do some consulting or do a speech that can inspire someone. And so that exchange was valuable. It's like if you bought killing cigarette cows. For me, you're saying that it was worth more than $20 I'm saying it was worth less because I already have the knowledge in my head, and so we both can end up wealthier. Unequal exchange is what facilitates wealth. What it lets us do is tap into our best abilities and tap into other people's best abilities. And that exchange ends up growing over time, and the more times money circulates because of Good Services and experiences, the more output there is. So look at today. Hundreds of years ago, if you wanted to listen to music, you had to hire a quartet. Now it's free for almost anyone, if you have any device of any sort, if you're willing to listen to a commercial here or there, you can listen to anything that you want. For the most part, you don't even have to pay for it. So think about that advancement. If you want to be anywhere in the world, you could be there in almost 24 hours or less, back in the day, that would have taken, you know, years for that matter. I mean, we have so much more wealth because we keep building upon previous wealth, previous ideas, and those blueprints we continue to grow from with new innovation and ingenuity. Therefore, the quality of life for someone that's middle class today is infinitely more than the middle class of hundreds of years ago, the amount of people that are hungry today versus years ago, even though we have more than 8 billion people on the planet, has gone down as a percentage, not up as a percentage. That's because of velocity and exchange. It's because of this notion that money's not scarce and resources have the way to be replenished, as long as we're stewards. Now, if the bison, if we kill too many of them, then they can't replenish, right? But if we manage that properly, you could actually eat the bison, use the skins, do all that kind of stuff, and still have that exist in the future. These people that don't believe in that believe that there's like a finite pie, that if one thing's gone, it's gone forever, not understanding value exchange, reproduction, apparently, and basic science either. And again, we can overdo those things and damage an ecosystem. So there is a balance.   Keith Weinhold  27:36 Yeah, that's right, when you talk about value creation, then you're really not talking about a person going out and trying to get their piece of the pie. Really more accurately what you're talking about. Here are ideas for expanding the entire pie.   Garrett Gunderson  27:51 Spam the pie. Expand your means you can budget and reduce. You said it eloquently. You said, Hey, there's only so much you can do in reduction of expenses before it just starts infringing and taking away from things that you value in life. There's a finite game there, but the expansion gain through co creation, through collaboration, instead of through competition, is absolutely an infinite pie that continues to grow as we add more value, as we serve more people, as we solve bigger problems, as we more deeply impact the people that we impact as we reach more people, these are things that can lead to more dollars. So I have this thing called the value equation. It's our mental capital, ideas, knowledge, wisdom, insights, strategies and tools multiplied by our relationship capital, people, networks, organizations, communities, friends, family, mentors, equals our financial capital. So financial capital is a byproduct of our stewardship of our mental and relationship capital. And the bridge between mental relationship capital is what we call business, or we call investing. So ultimately, Money Follows value. How do we add more value? Have a better idea. Impact more people. More more deeply. Impact the people you currently serve. Collaborate and offer more like it's an infinite pie and an infinite game. If we play it that way.  We're talking with speaker and author Garrett Gunderson, about the mindset of wealth creation. More. We come back with Garrett. I'm your host. Keith Weinhold.   Keith Weinhold  29:01 hey, you can get your mortgage loans at the same place where I get mine at Ridge lending group NMLS, 42056, they've provided our listeners with more loans than any provider in the entire nation because they specialize in income properties. They help you build a long term plan for growing your real estate empire with leverage. You can start your pre qualification and chat with President Caeli Ridge personally. Start Now while it's on your mind at ridgelendinggroup.com That's ridgelendinggroup.com. Your bank is getting rich off of you. The national average bank account pays less than 1% on your savings if your money isn't making 4% Percent, you're losing your hard earned cash to inflation. Let the liquidity fund help you put your money to work. With minimum risk, your cash generates up to an 8% return with compound interest, year in and year out. Instead of earning less than 1% sitting in your bank account, the minimum investment is just 25k you keep getting paid until you decide you want your money back. Their decade plus track record proves they've always paid their investors 100% in full and on time. And I would know, because I'm an investor too. Earn 8% hundreds of others are text family 266, 866, learn more about freedom. Family investments, liquidity fund, on your journey to financial freedom through passive income. Text, family 266, 866,   Hal Elrod  30:54 this is Hal Elrod author of The Miracle Morning and listen to get it rich. Education with Keith Weinhold, and don't quit your Daydream.     Keith Weinhold  31:10 welcome back to get rich education. We're talking with firebrand speaker and author Garrett Gunderson. You can learn more about him at Garrettgunderson.com. Garrett before the break, we were talking about the mindset in opening up one in order to create more wealth over time. Here, a lot of times, one way we talk about that is, don't just get your money to work for you. Get other people's money to work for you. You could actually use other people's money ethically three ways at the same time, in real estate, using the tenant's money for the income stream the government's money for generous tax incentives, and then the bank's money for the leverage, which is actually a greater wealth building force than compound interest. That's one example of how we do that here. But when one has become successful, oftentimes they want to make sure that that's lasting. They want to build a legacy, something that they can carry on. And I know you articulate that through the Rockefeller method. So do you want to tell us more about that?   Garrett Gunderson  32:05 I wrote this book. What would the Rockefellers do back in 2016 this study between really wealthy families versus their wealth lasted, versus wealthy families that decimated it, and the best study was really the Vanderbilt because they had more money than the US Treasury. One the railroad family, yeah, transportation. And you know what? They destroyed that Cornelius died, and then his eldest son doubled the estate nine years and then he died, and that was the last time their estate grew. It started to decrease after that. And 54 years later, the first Vanderbilt died broke, and so the last Vanderbilt family union didn't have any millionaires at it. I know everybody knows about like Vanderbilt University. They donated like, a million dollars to get that started. But, you know, that was pretty inconsequential compared to their overall net worth. But they didn't have a formula or format to create sustainable wealth. They own 10 mansions in in Manhattan. They don't own those anymore. They own the breakers in Rhode Island. The state of Rhode Island owns that now. So they lost this massive amount of wealth where the Rockefellers are just entering their seventh generation of passing on, well, seven generations, wow. And people that worked for the rock bellers, like the executives, they're still passing on, well, for this generation after generation. And most people don't make it past the third generation. And we could look at, you know, people like Walt Disney. We could look at people like JCPenney. We could look at people, you know, like the the Kennedy family and so many others that have used these two things to really create sustainable wealth. Number one is they use trust. The Rockefellers coined the term own nothing and control everything, whether that's a revocable living trust for people who are just starting out and don't have a substantial amount of wealth, or a domestic asset protection trust for those that have a decent amount of wealth, those are the two main popular ones. There are some offshore trusts. It gets onerous and complicated once you go offshore, but it does protect your assets. The second piece is using whole life insurance, so they have this death benefit that's on the insured, and they put that on their heirs, so that every time an heir dies, it replenishes the trust, and potentially even grows it, because there's these threats to the family wealth, there's taxes, there's inflation, there's interest rate fluctuations or market, you know, economic turmoil. So what they're doing is they're creating that level of stability, and they give them preferred interest rates to borrow from the trust versus a bank. So now your family can actually earn interest instead of paying interest. And yes, if your family is paying interest, they're paying it back to their future generation at Preferred rates. And so you could be one generation away from never needing a bank again and actually being able to capitalize on deals a whole lot faster. Specifically, we use whole life, because it transfers the risk to the insurance company. There's six or seven companies that are participating, mutual companies that have been around for over 150 years, always paid dividends. It protects your cash value from taxes. It protects it from liability and bankruptcy in over 40 states, fully and partially in every state. So what happens is, for an asset allocation decision. You can start moving some of your fixed income portfolio to this and have a better, more robust benefits type of situation, and then actually start to implement this Rockefeller method so that you can create generational wealth.   Keith Weinhold  35:12 All right, so the Rockefeller method using trusts and whole life insurance to preserve and grow your wealth, so as one's building their portfolio, amassing wealth, increasing income streams as they go along in their investor journey. Is there anything that they should keep in mind as they try to integrate some of these things from the Rockefellers?   Garrett Gunderson  35:12 Yeah, a lot of other insurance people try to sell these index universal life policies, but those won't work because they have too many levers of risk, and especially when you're building cash value, you might use that cash value to buy real estate. Then you might use the rental income to put the money back into the policy so you can buy more real estate in the future. So it becomes like a medium storage shed or unit for your cash that's protected, but now it comes with the death benefit, which, here's one example, for a real estate investor, instead of just, you know, rolling it over to the next property and rolling it over to the next property when you eventually sell, you can use a charitable trust. And a charitable trust, you can donate that highly appreciated piece of real estate, get a partial tax deduction, sell it and fund the trust and pay zero tax on your gains. No matter what your basis is, there's no tax on the gains. You're the first beneficiary of the trust, meaning you can take an income between 5% and 50% from the trust while you're alive, depending on the underlying assets, and then when you die, the charity keeps whatever's left over. But if you have a life insurance policy that will replenish what that donation was, therefore giving you 20 30% or more increased cash flow with an asset by making a synergistic allocation. Now, that's a lot of information in a short period of time, but it's more about planting seeds. And don't worry, I'll give everybody a copy of the book at no charge, so they can kind of read it at their own pace, or you can listen to it at their own pace, versus me condensing it into just a couple minutes.   Keith Weinhold  36:56 Oh, thanks. All right, well, we'll learn more about that resource at the end that sounds like that can be really helpful to a lot of people. And I guess Garrett, even though you're not as real estate ish as me, as we wind down here, you know, I think the place that you and I find the most common ground is we often say and help people with the things that sort of fly in the face of conventional guidance. I mean, you really just don't have to think about it that much more than if you just do normal stuff, average, mediocre stuff, you're only going to have a normal, average, mediocre outcome. So can you tell us about any last things that can help get people thinking differently and debunk some of this conventional guidance that really will never help get you much above lower middle class?   Garrett Gunderson  37:40 Yeah, if you're putting your money in mutual funds and ETFs, you're making a bunch of other people money. I mean, the big three is you want to focus on generating cash flow so you can create financial independence. Because if you have enough cash flow from assets to cover your expenses, every active dollar can build more assets. That's an exponential benefit to you. So now that you don't have to be forced to work, you've got a lot more freedom. And the big three for me are real estate businesses or intellectual property, which is kind of, you know, something that is part of business to a degree, but I consider a different asset class. Those are the big three. I have no money in the stock market. I have money in my businesses. I invest in myself. I invest in my vision. I invest in a team, instead of investing in things that I have no control over and I don't get cash flow from and that the economy can change, or that Wall Street's making money on whether I make money or not. So that's just one notion that I think we could probably, you know, agree, flies in the face of what everybody's teaching. That's the masses. But when you look at the wealthiest people, it's how they're implementing and what they're doing.   Keith Weinhold  38:39 And I think another place that conventional guidance really tells people to prioritize is paying down debt or paying off debt. I mean, making your debt free scream at age 34 you know, maybe that's not so bad, but maybe not. I mean, did paying down low to moderate interest rate debt and making that priority sacrifice your lifestyle and your family's lifestyle the entire time while you were doing it, and did it have a steeper opportunity cost, because you were not investing those dollars in things that can earn a greater return than their interest rates were they're using some of the vehicles that you talked about. So, you know, I guess what I'm getting at Garrett philosophically, one way I said it, is that the risk of delayed gratification is denied gratification?   Garrett Gunderson  39:23 Yeah, I mean, if we become sacrifice, how do we ever overcome that habit? I'm I'm scrimping, I'm sacrificing, yeah, I'm deferring. And then one day, what you're supposed to flip the switch be like, Okay, now I'm abundant. I'm gonna enjoy this money that doesn't happen. So that habitual notion of reduce, cut, eliminate, no one shrinks their way to wealth. It's a game of expansion and production. Yes, be efficient, be intelligent, be a steward, but don't become a miser, because misers, no matter how much money they have, never get to feel what it's like to live their richest life. It's always about elimination. Instead of enjoyment and utilization.   Keith Weinhold  40:02 Oh, that is just beautifully stated. I really can't say it any better than that, and that really brings it back full circle as to the best personal finance is probably growing your means rather than practicing living below your means for decades, and then you'll never get that time back. Well, Garrett, you've generated so many good educational resources. Why you've been the successful author and speaker. Tell us more about that.   Garrett Gunderson  40:26 Garrettgunderson.com is where a lot of those resources are. I write a blog like it's 2006 because I love to write and just get information out there. I've created a money persona quiz. So if you go forward slash tools on Garrettgunderson.com you can figure out what's the success or sabotage that happens subconsciously with how you deal with money. It's very informative and useful. I've written 10 books. I offered that if people DM me on Instagram, Garrett B, Gunderson, two R's, two T's, middle initial B and just say, Keith, get rich. Keith get rich. So I know it was on this program, I'll hook you up with the audio and a PDF of the book on me, so that you can hopefully just understand this Rockefeller method and improve your life and start building a legacy right now. Because if you're already doing real estate, that's great, let's make sure to preserve, protect and even perpetuate that wealth with some of the structures that could be integrated.   Keith Weinhold  41:17 Well Garrett, yeah, you have a lot of great resources and just a really wide spectrum of understanding of concepts all across a personal finance field. Is there any last thing you'd like to let our audience know about?   Garrett Gunderson  41:28 Just create the life you don't want to retire from. Design a life that you love. Create enough cash flow from assets to have that economic independence so you have choice and freedom daily of what you do and swing for the fences in that purpose, you know, that's probably the best advice that I could give.   Keith Weinhold  41:43 Why would you want to live your life any other way? Garrett Gunderson, it's been valuable as expected. Thanks so much for coming on to the show.   Garrett Gunderson  41:51 Thanks for having me.   Keith Weinhold  41:58 Yeah, a lot on both mindset and long term wealth preservation with Garrett Gunderson today, now, 15 weeks ago, on episode 507 you'll remember that episode called compound interest is weak, where I made a takedown about how compound Interest actually is not serving people. Leverage does serve people. Garrett also makes a takedown and critiques this myth about how people think compound interest builds wealth. A little review. There some comprehension from 15 weeks ago, compound interest has most people counting on the average annual return when they should be focused on the compound annual growth rate. A little review. Remember the average annual return means if you're up 10% one year and then down 10% next year that you broke even. That's the arithmetic thing. But that is a lie. The reality is in this CAGR, the compound annual growth rate, it reflects, if you're up 10% one year and then down 10% the next year, you're at minus 1% the geometric thing. And that's the reality, and that makes a retirement lifestyles worth of difference, and a retirement ages worth of difference like I thoroughly broke down for you in episode 507 coming up on the show here in future weeks, a familiar name like Tom wheelwright returns, and then new guests, like a former NFL player here on the show, if you want to reach out to Garrett Gunderson on Instagram for his best free resources, even the audio and pdf of his Rockefeller method of generational wealth preservation, again on Instagram, you can DM him at Garrett B Gunderson, he let me know later, all you have to do is send him my first name, Keith, and he will hook you up there. I'm your host, Keith Weinhold, and I am supremely grateful and even in awe of your devoted listenership for an entire decade of your life and mine, here's to another 10 years. Don't quit your Daydream.   44:21 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  44:49 The preceding program was brought to you by your home for wealth. Building, get rich, education.com, you.

Over the winter of 1887-88, miners, railway workers, and others fought for job control, wages, and conditions.Support the Show.https://linktr.ee/laborjawn

Jack Gombach is a relentless optimist and an advocate for Reading, PA, and its surrounding communities. I only met Jack a couple of times around town, but I love his vibe. He always has a smile on his face and is all about making his community better - one of my favorite traits! It was entertaining and informative being able to sit down with Jack and discuss Reading, PA, how the community can come together and make it better, and what may come. There's been so much talk about improvements, especially about the potential of having the train back in town and we try and break down what needs to happen to make it a reality. Learn More About Jack Gombach LinkedIn: @Jack-Gombach-for-PA Facebook: @JackForPA Website: McNees Wallace & Nurick Connect with FXV Digital Design Website: FXV Digital Design LinkedIn: @fxv-digital-design Instagram: @fxvdigital TikTok: @fxvdigital Show Notes Produced By: Joseph Alexander Media Music By: Beats by Dai

The Penn Central Transportation Company is and was, one of the most maligned and disrespected railroads to ever grace the rails in the lower forty-eight. The result of a merger in 1968 with three different railroads, Pennsylvania, New York Central and New Haven it was a disaster from the start, filing for the largest bankruptcy in U.S. history just two years later in 1970. But miracles do happen, the Penn Central is once again alive and well in the basement of the Homoki home in Central New Jersey. Jim has built an impressive layout highlighting some of the operations of the PC while combining it with the Central of New Jersey and Reading Railroad. This is a great podcast with lots of info on a variety of topics that we're sure you'll enjoy. So, sit back with steaming hot mug of joe in your favorite PC mug and enjoy!!

By Davy Crockett You can read, listen, or watch Today's ultras usually have few disruptions from outsiders or spectators. The most serious disturbances are typically from people who take down course flagging which can cause runners to go off course, potentially putting them in serious danger.  But during the era of ultrarunning more than 120 years ago, with thousands of spectators watching exhausted runners go in circles for six days, strange disruptions were commonplace. During high profile races, squads of policemen were required to keep the order. This is the fourth part of the Ultrarunning Stranger Things series. See Part 1, Part 2, and Part 3. Run Davy Crockett's Pony Express Trail 50 or 100-miler to be held on October 14-15, 2022, on the historic wild west Pony Express Trail in Utah. Run among the wild horses. Crew required. Your family and friends drive along with you. http://ponyexpress100.org/ Disruptions In 1879, at Canarsie, Brooklyn, New York, an indoor six-day walking competition was taking place between five walkers in front of a nice crowd in Lehmann's Hotel. It was put on by William Van Houten (1857-1914). The event was going along fine until two well-known local men entered the room, John Wilson, and Aleck Fisher.  At the time most of the competitors were off track, sleeping, and so were many of the spectators. “Wilson jumped on the track and commenced breaking it up, while Fisher went about the room upsetting the benches on which were the sleeping Canarsieites." "One of the walkers, Clinton Drake, requested Wilson to desist from breaking up the track, whereupon Wilson caught Drake by the shoulders, shook him and threatened to throw him out the window. Wilson broke the track up to such an extent that it became necessary to stop the walk.” The two men were arrested by a constable but pleaded not guilty. Drake pressed charges of assault and battery again Wilson, who pleaded not guilty to that charge too. A Gang Interferes Apgar in later years Also in 1879, a contest in the Industrial Art Building in Philadelphia experienced many disruptions. Melville B. Apgar (1950-1934), of New York City, who fought in the Civil War as an underage infantryman, was in the lead on day four of a six-day race when an incident ruined his race. “He was going around at a fair gait when a drunken man came on the track, and the acting referee, Jones, ordered him off. He refused to go, and a scuffle ensued, during which the drunken man fell against Apgar as he was passing and knocked him down.” Apgar tried to continue for several miles, but his knee had been sprained and he had to withdraw from the race.  Apgar and his friends criticized the race management, and one of them, Clark, made a very inflammatory speech about the terrible treatment received. “He was instantly surrounded by a crowd, and cries of ‘Put him out,” and “Kill him” and the like were freely used, and a rush was made.” The race manager asked the police to kick Clark out of the building and they did. Rumors circulated that there were further threats against Apgar and his friends from John Comber's notorious “Reading Hose Gang”. A large police force of officers was brought in to prevent any more disturbances. But still, “Tricks” Muldoon, a member of the gang stole a cornet from a musician who was playing in the band during the event. The Reading Hose gang was an infamous group of ruffians that made their headquarters near the Reading Railroad depot. Over the years several murders had been traced to the gang along with many arrests for other crimes. “Night after night citizens were beaten, robbed, and left lying in the streets.” It took many years for the authorities to break up the gang. A Mob Ruins an Event A similar disturbance occurred that same year during a walking exhibition at Oraton Hall in Newark, New Jersey. Josie Wilson, “The Jersey Peach Blossom,” was seeking to walk 3,000 quarter miles in 3,000 quarter hours.

Kevin Murphy drops by to revisit his 2016 paper, Community Foundation Business Model Disruption in the 21st Century.  He also discusses endowments, current trends,  why we all got it wrong when it comes to Reading Railroad in Monopoly  (it's Redding folks)  and his new found affection for Spotify.Mentions Include:This Will Not Pass- Jonathan Martin Community Foundation Business Model Disruption in the 21st CenturyBerks County Community FoundationMonopolySpotifyEvents/Learning OpportunitiesList of upcoming conferencesAssociations to JoinAdvancement Network (AdNet)CEONetProNetCommACouncil on FoundationsAiPAmerican College of Financial Services

Sounds of the Rail Park presents The Three Mile Vision, a special three-episode series highlighting the communities around the rail line.    In this series, local journalist Nichole Currie joins us as she travels the rail line and immerses herself in ten neighborhoods. You'll hear what makes each community unique and how a three-mile park system fits into their environment.   In this episode, Nichole explores The Viaduct. The Viaduct is an elevated section of the former Reading Railroad's 9th Street Branch. The inactive rail line reaches from the site of Phase One down to Vine Street, then arcs back northward and east toward Fairmount Ave. When complete, this stunning section of the park will overlook city streets and offer incredible Philly skyline views.   You'll hear from Yue Wu from the Chinatown CDC, Callowhill neighbors Robbie Long and Samyuktha Rajan, Craig Grossman from Crafts & Holdings, and Sol Garden Studio owners April Harley and Kwan Young.    The Sounds of the Rail Park: Three Mile Vision series was developed as a part of the Rail Park Time Capsule Initiative. The Rail Park Time Capsule Initiative is an ongoing digital community archiving project, which aims to preserve and highlight the stories, objects, spaces and places that sustain culture and hold historic value for the people that live, work, and play in the 10+ neighborhoods that the Rail Park traverses through. Submit your story to the Time Capsule!   Phase One of the Rail Park is free and open to the public every day from 7 AM to 10 PM. Plan your visit today.    The work of Friends of the Rail Park is made possible with the support of our community. Don't wait, become a member today!    Special thanks to our partners: Center City District Foundation, Philadelphia Parks and Recreation, William Penn Foundation, The John S. and James L. Knight Foundation, The 1830 Family Foundation, Wells Fargo Community Giving, The Philadelphia Cultural Fund, The Pennsylvania Department of Community and Economic Development, and the Board of Directors and many members of the Friends of the Rail Park.

Sounds of the Rail Park presents The Three Mile Vision, a special three-episode series highlighting the communities around the rail line.    In this series, local journalist Nichole Currie joins us as she travels the rail line and immerses herself in ten neighborhoods. You'll hear what makes each community unique and how a three-mile park system fits into their environment.   In this episode, Nichole explores The Tunnel. The Tunnel is a wide, architecturally stunning space extending across 3,000 feet underneath Pennsylvania Ave between 22nd and 27th Streets, which was once an active part of the Reading Railroad's City Branch. Open air shafts in the streetscape above illuminate the space with natural light, while the stone walls and vaulted brick ceilings reach 25 ft high.    You'll hear from Board President of Fairmount Community Development Corporation Heidi Siegel, local photographer JJ Tiziou, and Saint Francis Xavier School Principal Dolores Butler.    The Sounds of the Rail Park: Three Mile Vision series was developed as a part of the Rail Park Time Capsule Initiative. The Rail Park Time Capsule Initiative is an ongoing digital community archiving project, which aims to preserve and highlight the stories, objects, spaces and places that sustain culture and hold historic value for the people that live, work, and play in the 10+ neighborhoods that the Rail Park traverses through. Submit your story to the Time Capsule!     Phase One of the Rail Park is free and open to the public every day from 7 AM to 10 PM. Plan your visit today.    The work of Friends of the Rail Park is made possible with the support of our community. Don't wait, become a member today!  Special thanks to our partners: Center City District Foundation, Philadelphia Parks and Recreation, William Penn Foundation, The John S. and James L. Knight Foundation, The 1830 Family Foundation, Wells Fargo Community Giving, The Philadelphia Cultural Fund, The Pennsylvania Department of Community and Economic Development, and the Board of Directors and many members of the Friends of the Rail Park.

Pennsylvania Militia open fire on civilians and striking railroad workers. Music: Which Side Are You On? by Florence Reece, arranged and performed by Sam James.

This week in "Reading Railroad," we will find the key to building a better life. See you Sunday for "Soul Train" as we see and learn "The Power of Living on God's Track." Blessings, Pastor Dan Buchert

in which we hear of his love of reading, learning about foreign films, and playing with dangerous toys.

This week at In The Past Lane, the American History podcast, we take a look at a legendary labor uprising by a mysterious group known as the Molly Maguires. They were Irish and Irish American coal miners in Pennsylvania in the 1870s who used vigilante violence to fight back against the powerful and exploitative mine owners. But in the end, the mine owners used their dominance over the political and legal establishment to see to it that 20 men, most of whom were likely innocent, were executed by hanging.   Feature Story: The Molly Maguires Hanged  On Thursday June 21, 1877 – 143 years ago this week - ten men went to the gallows in Pennsylvania.  They were known as Molly Maguires – members of an ultra-secret society that used violence and intimidation in their bitter struggles with powerful mine owners. Arrested for their alleged role in several murders, they were convicted and sentenced to death on the basis of very thin evidence and questionable testimony.  “Black Thursday” would long be remembered by residents of the Pennsylvania coal fields as an extraordinary example of anti-labor and anti-Irish prejudice.  The story of the Molly Maguires was one very much rooted in two specific places: rural Ireland and the anthracite region of PA. The latter was the main supplier of the nation’s coal, making it a vital component in American’s unfolding industrial revolution. By the 1870s, more than 50,000 miners – more than half of them Irish or Irish American – toiled in the region’s mines. It was hard, brutal work. They worked long hours for low pay in extremely dangerous conditions. Every year cave-ins, floods, and poison gas claimed the lives of hundreds of miners.  In one fire alone in 1869, 110 miners were killed. It was in the struggle of these workers to improve their pay, hours, and conditions that the Molly Maguire saga began.  Irish immigrants and Irish Americans played key roles in virtually every aspect of the conflict, from the lowliest miner to the most powerful capitalist.  Foremost was Franklin B. Gowen, the wealthy Irish American president of the Philadelphia and Reading Railroad. Tough and ambitious, he ruthlessly drove his competitors out of business in an effort to dominate the state’s two principle industries, coal and railroads.  The only thing he hated more than rival businessmen was organized labor, especially the main miners union, the Workingmen’s Benevolent Association (WBA). Led by an Irish-born man named John Siney, the WBA had won several strikes in the late 1860s and early 1870s that resulted in wage gains and union recognition. Even though he shared an Irish heritage with most of his miners, Franklin Gowan had little sympathy for them. In industrializing America, class interests trumped everything, including ethnicity and culture, and Gowan treated his workers like they were the enemy.  Gowan waited for the right moment to attack, and that came in 1873 when the nation plunged into a severe economic depression that lasted until 1877.  The hard times hurt his bottom line, but Gowen saw a silver lining: hard times also provided an opportunity to kill the miners’ union. In January 1875, Gowan announced a steep cut in wages, a move quickly followed by the region’s others coal operators. The wage cuts triggered a massive miners’ strike throughout the region that paralyzed coal production. But Gowen and other operators had prepared for the strike by stockpiling huge coal reserves that allowed them to continue to sell coal and wait out the desperate and half-starved striking miners. The “Long Strike,” as it came to be known, was doomed. It ended after five months in June with a total defeat for the workers and the destruction of the Workingmen’s Benevolent Association (WBA).  And here’s where rural Ireland figured into the story. Embittered by their loss, a group of Irish miners turned to an old custom – extra-legal justice, or vigilantism.  Irish tenant farmers had for centuries used tactics of intimidation, vandalism, and murder to protest landlord abuses, primarily rent hikes or evictions. These types of tactics of resistance by powerless peasants have been called by anthropologist James Scott, “the weapons of the weak.” According to tradition, the original “Molly Maguire” had been a woman who thwarted her landlord’s attempts to evict her during the Famine.  Many of the Irish miners in the Pennsylvania coal fields came from counties in Ireland where periodic agrarian vigilantism was a firmly rooted tradition.  Molly Maguire activity first arose in the anthracite region in the labor disputes of the early 1860s. But it subsided with the WBA’s success in gaining better wages and conditions for the miners. Now in the wake of the defeat in the Long Strike, the Mollies returned with a vengeance.  Between June and September 1875, six people were murdered – all carefully targeted as agents of the mine owners and enemies of the miners. Having destroyed the WBA, Franklin Gowen saw in the return of the Mollies an opportunity to permanently wipe out any miner opposition to his plans to consolidate power and wealth.  And so, he unleashed a sweeping campaign against the secret society in which he branded all labor activists “Molly Maguires.” He also accused an Irish fraternal organization known as the Ancient Order of Hibernians of operating as a front for the organization. Eventually over fifty men, women, and children were arrested and indicted for their alleged roles in the Molly Maguire violence and murders. Incredibly, the state of Pennsylvania played almost no role in this process. None other than Franklin Gowan served as the county district attorney and oversaw the investigation and prosecutions. A private company – the Pinkertons – conducted the investigation. A private police force employed by the mining companies carried out the arrests. And Gowan and coal company attorneys conducted the trials. As one historian commented, “The state only provided the courtroom and the hangman.”  The first trials began in January 1876.  They involved ten men accused of murder and were held in the towns of Mauch Chunk and Pottsville, PA.  A vast army of national media descended on the small towns where they wrote dispatches that were uniformly pro-prosecution. In an era of rising hysteria over labor radicalism, and the growing popularity of socialism and anarchism – much of it fueled by sensational stories in the mainstream press - the Molly Maguire story proved irresistible. And the coverage was universally negative. The NYT, for example, wrote about “the snake of Molly Maguire-ism,” while the Philadelphia Inquirer condemned the men as “enemies of social order.” The key witness for the prosecution was yet another Irishman, James McParlan. He was an agent of the infamous Pinkerton Detective Agency, an organization that would be more accurately described as a private army for hire that specialized in labor espionage and strikebreaking. Franklin Gowan had hired the Pinkertons in the early 1870s as part of his masterplan of destroying the WBA. James McParlan had gone under cover to infiltrate the Mollies and gather evidence. And gather he did – or at least he claimed he did during the trials. On the stand he painted a vivid picture of Molly Maguire secrecy, conspiracy, and murder. With this testimony, combined with the fact that Irish Catholics and miners had been excluded from the juries, guilty verdicts were a foregone conclusion. All ten defendants were convicted and sentenced to hang.  And in order to send the most powerful message to the region’s mining communities, authorities staged the executions on the same day -- June 21, 1877 – in two locations.  Alexander Campbell, Michael Doyle, Edward Kelly, and John Donahue were hanged in Mauch Chuck, while James Boyle, Hugh McGehan, James Carroll, James Roarity, Thomas Duffy, and Thomas Munley met a similar fate in Pottsville.  Although the hangings took place behind prison walls, they were nonetheless stages as major spectacles that drew huge crowds and generated international news coverage, nearly all of it condemning the Mollies as murderous monsters who got what they deserved.  Still, the Molly Maguire episode was far from over.  Ten more miners would be tried, convicted, and executed over the next fifteen months, bringing the total to twenty. While evidence suggests that some of them men were guilty of murder, the great majority of those executed were likely victims of hysteria and a profoundly unjust legal process. In the end, Franklin Gowen and his fellow mine operators succeeded in stamping out the Molly Maguires, but not the violent clashes between labor and capital they represented. For more than a generation following the executions, miners in Pennsylvania and many other states would continue to fight -- both legally and extra-legally -- against oppressive conditions in the mines. And the mine owners, as they did with the Mollies, did their best to dismiss the agitation as foreign radicalism brought to America by misguided immigrants who did not understand the inherent goodness and justice of industrial capitalism. The miners, of course, knew better. They understood that unregulated capitalism, backed by the full weight of the law, the government, and the media, was neither just, nor democratic. It was exploitation, pure and simple. Sources: Anthony Bimba. The Molly Maguires (International Publishers, 1932). Wayne G. Broehl, Jr., The Molly Maguires (Harvard University Press, 1964). Kevin Kenny, Making Sense of the Molly Maguires (Oxford University Press, 1998). IrishCentral.com, “Molly Maguires Executed, June 20, 2020 https://www.irishcentral.com/roots/history/molly-maguires-executed#.XvEIkuOULEA.twitter For more information about the In The Past Lane podcast, head to our website, www.InThePastLane.com  Music for This Episode Jay Graham, ITPL Intro (JayGMusic.com) The Joy Drops, “Track 23,” Not Drunk (Free Music Archive) Sergey Cheremisinov, “Gray Drops” (Free Music Archive) Ondrosik, “Tribute to Louis Braille” (Free Music Archive) Alex Mason, “Cast Away” (Free Music Archive) Squire Tuck, “Nuthin’ Without You” (Free Music Archive) Ketsa, “Multiverse” (Free Music Archive) The Rosen Sisters, “Gravel Walk” (Free Music Archive) Soularflair, “Emotive Beautiful Irish Feel Gala” (Free Music Archive) Dana Boule, “Collective Calm” (Free Music Archive) Ondrosik, “Breakthrough” (Free Music Archive) Cuicuitte, “sultan cintr” (Free Music Archive) Blue Dot Sessions, "Pat Dog" (Free Music Archive) Jon Luc Hefferman, “Winter Trek” (Free Music Archive) The Bell, “I Am History” (Free Music Archive) Production Credits Executive Producer: Lulu Spencer Graphic Designer: Maggie Cellucci Website by: ERI Design Legal services: Tippecanoe and Tyler Too Social Media management: The Pony Express Risk Assessment: Little Big Horn Associates Growth strategies: 54 40 or Fight © In The Past Lane, 2020 Recommended History Podcasts Ben Franklin’s World with Liz Covart @LizCovart The Age of Jackson Podcast @AgeofJacksonPod Backstory podcast – the history behind today’s headlines @BackstoryRadio Past Present podcast with Nicole Hemmer, Neil J. Young, and Natalia Petrzela @PastPresentPod 99 Percent Invisible with Roman Mars @99piorg Slow Burn podcast about Watergate with @leoncrawl The Memory Palace – with Nate DiMeo, story teller extraordinaire @thememorypalace The Conspirators – creepy true crime stories from the American past @Conspiratorcast The History Chicks podcast @Thehistorychix My History Can Beat Up Your Politics @myhist Professor Buzzkill podcast – Prof B takes on myths about the past @buzzkillprof Footnoting History podcast @HistoryFootnote The History Author Show podcast @HistoryDean More Perfect podcast - the history of key US Supreme Court cases @Radiolab Revisionist History with Malcolm Gladwell @Gladwell Radio Diaries with Joe Richman @RadioDiaries DIG history podcast @dig_history The Story Behind – the hidden histories of everyday things @StoryBehindPod Studio 360 with Kurt Andersen – specifically its American Icons series @Studio360show Uncivil podcast – fascinating takes on the legacy of the Civil War in contemporary US @uncivilshow Stuff You Missed in History Class @MissedinHistory The Whiskey Rebellion – two historians discuss topics from today’s news @WhiskeyRebelPod American History Tellers ‏@ahtellers The Way of Improvement Leads Home with historian John Fea @JohnFea1 The Bowery Boys podcast – all things NYC history @BoweryBoys Ridiculous History @RidiculousHSW The Rogue Historian podcast with historian @MKeithHarris The Road To Now podcast @Road_To_Now Retropod with @mikerosenwald © In The Past Lane 2020  

Deep Dive on Loans for your small business during the pandemic. Anthony Pomponio is an accomplished finance professional with over 18 years of experience in risk management, credit underwriting, portfolio and account management. Extensive and progressive experience in strategic financial management including leading company projects, new business planning, sales, and budget planning. Riverfront Federal Credit Union was founded in 1948 as the RDG Reading Federal Credit Union to serve the employees of the Reading Railroad. Through the years, other organizations and companies were permitted to join RDG, leading to substantial growth. To reflect the resulting diversity of our field of membership, we changed our name to Riverfront Federal Credit Union in 1987. Additional growth came in 2000 when Riverfront added the City of Reading as an underserved area to our field of membership; and again, in 2008 when we were granted a charter amendment to allow anyone who currently lives, works, worships or attends school in Berks County, Pennsylvania or is a legal entity doing business in Berks County to join. We are as proud of our beginning as where we are today.

This week we have a returning guest in Anthony Pomponio is an accomplished finance professional with over 18 years of experience in risk management, credit underwriting, portfolio and account management. Extensive and progressive experience in strategic financial management including leading company projects, new business planning, sales, and budget planning. Riverfront Federal Credit Union was founded in 1948 as the RDG Reading Federal Credit Union to serve the employees of the Reading Railroad. Through the years, other organizations and companies were permitted to join RDG, leading to substantial growth. To reflect the resulting diversity of our field of membership, we changed our name to Riverfront Federal Credit Union in 1987. Additional growth came in 2000 when Riverfront added the City of Reading as an underserved area to our field of membership; and again, in 2008 when we were granted a charter amendment to allow anyone who currently lives, works, worships or attends school in Berks County, Pennsylvania or is a legal entity doing business in Berks County to join. We are as proud of our beginning as where we are today.

In this episode, Ken Weinstein, the president of PhillyOfficeRetail and the founder of Jumpstart Germantown, talks about the Wayne Junction revitalization project.Wayne Junction Station, located on Windrim Avenue in Philadelphia, is a major transportation hub for SEPTA. The station was opened by the Reading Railroad company in 1881 and the surrounding area includes parts of the Germantown and Nicetown neighborhoods.Today, Wayne Junction is a transfer point between six of SEPTA’s regional rail lines as well as three major transit routes and serves more than 321,000 riders annually.In this episode, Ken talks about PhillyOfficeRetail's $20 million project to turn a collection of 11 rundown properties into a transformative mixed-use development complete with a craft brewery, restaurants, apartments, offices, and retail.In 2018, the Pennsylvania Historic Preservation Review Board approved the Philadelphia Historical Commission’s request to create the Wayne Junction National Historical District, a collection of eight large-scale industrial buildings built between the late-19th and mid-20th century surrounding the Wayne Junction Station.The eight properties include:Wayne Junction Train Station at 4481 Wayne Ave.New Glen Echo Mills at 130 W. Berkley St.Brown Instrument Company at 4433 Wayne Ave.Max Levy Autograph at 212-220 Roberts Ave.Arguto Oilless Bearing Company at 149 W. Berkley St.Blaisdell Paper Pencil Company at 137-45 Berkley St.The Keystone Dry Plate & Film Works / Moore Push Pin building at 113-29 Berkley St.200-10 Roberts Ave.Here's what's covered in this episode (with timestamps):Wayne Junction Overview: 2:00The mix of commercial real estate coming to Wayne Junction: 4:05PhillyOfficeRetail's biggest project to date: 12:40Historic District designation: 15:57PhillyOfficeRetail's approach to working with commercial tenants: 19:55Jumpstart Coworking Community: 19:55Jumpstart Germantown's Monday nights' continuing education: 29:12Membership pricing for Jumpstart Coworking: 30:34Jumpstart Germantown wins AIA (American Institute of Architects) / Preservation Alliance Award: 31.44Curbed Philly: Mapping Wayne Junction's Redevelopment Boom See acast.com/privacy for privacy and opt-out information.

Anthony Pomponio is an accomplished finance professional with over 18 years of experience in risk management, credit underwriting, portfolio and account management. Extensive and progressive experience in strategic financial management including leading company projects, new business planning, sales, and budget planning. Riverfront Federal Credit Union was founded in 1948 as the RDG Reading Federal Credit Union to serve the employees of the Reading Railroad. Through the years, other organizations and companies were permitted to join RDG, leading to substantial growth. To reflect the resulting diversity of our field of membership, we changed our name to Riverfront Federal Credit Union in 1987. Additional growth came in 2000 when Riverfront added the City of Reading as an underserved area to our field of membership; and again, in 2008 when we were granted a charter amendment to allow anyone who currently lives, works, worships or attends school in Berks County, Pennsylvania or is a legal entity doing business in Berks County to join. We are as proud of our beginning as where we are today.

Topics discussed on this week's episode include: Who is Stradivarius? Another family game night last night Reading Railroad debate Kyle and Kati were convinced of something that offended Annette Ranking the best days of our lives Team ReMax may be in peril! We have a final billboard design ready to go Stan the Movie Man Previews the Oscars The Fast 5 And more! Follow the Steve and Kyle Podcast on Twitter! @SteveAndKyle @NoPHinSteven @kpaff3587 Or on Facebook! And now on Instagram @SteveAndKyle! Enjoy the latest show and be sure to share! Download, subscribe and review the show in iTunes, the Apple Podcasts app, Google Play, TuneIn, Stitcher, YouTube, Libsyn and Spotify! Call or text your questions, comments or concerns at 424-30-SKPOD (424-307-5763). Opening music: ”Malt Shop Bop" by Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License http://creativecommons.org/licenses/by/3.0/   Closing music: "Pulse" by Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 3.0 License http://creativecommons.org/licenses/by/3.0/   TAGS: funny, friends, family, kids, comedy, talk radio, talk, radio, pop culture, music, food, sports, relationships, viral videos, social media, politics, political, fbhw, free beer and hot wings

A walk on the Highline in Chelsea District of New York prompted a discussion of its history and how the convergence of trains, people, cattle and goods in this area of New York shaped the neighborhood. The elevated line has been preserved and is now a beautiful linear park. This story with Jane Runyeon and Valerie Boom explores how the effort to reframe the space in order to preserve the history and impact of trains in America has evolved. The result of the evolution is the ‘Ghost Train’ project. Jane Runyeon, a lifelong artist and educator, is from Reading. Reading is home to the Reading Railroad, and it is only natural that Jane stepped up to be the executive director of this important artistic collaboration that brings the past to life in the present. Valeria is an architect and artist, and Lynn Redding is a lighting designer and artist. You will meet Lynn in part two of this story. Trains of the past come alive in the Ghost Train project in the most magical of ways. People’s lives centered around the railroad. The Ghost Train will enable us to imagine through art what life was like 100 years ago. An array of different mediums will be utilized to make the past come alive in the rail areas that are being preserved. Imagine what life was like 100 years ago, alive and bustling in the rail areas that are being preserved. Find out how you might look at some specific areas of Reading as the rail areas are being re-imagined and preserved through art. Trains of the past come alive in the Ghost Train project in the most magical of ways.

Philadelphia: A Railroad History describes the remarkable development of the railroad industry in Philadelphia and the intense competition that pitted the Pennsylvania Railroad against the Reading Railroad, and those two titans against the formidable Baltimore and Ohio Railroad to dominate the regional market. The book details the impact of the rail industry on four local firms—Baldwin Locomotive, the Cramp Shipyard, Midvale Steel and the Budd Company—and on the Philadelphia waterfront and its port. And it concludes with speculation on the impact, challenges and opportunities presented by Conrail’s acquisition by CSX and Norfolk Southern. Philadelphia: A Railroad History also highlights the key roles of the city’s industrial giants during this colorful era, including Steven Girard, Matthias Baldwin, William Sellers, Franklin Gowen, John W. Garrett, George Roberts and Edward G. Budd. Edward Duffy is a graduate of La Salle and Temple Universities. He has worked for Philadelphia’s Department of Commerce, its Planning Commission, its Port Corporation, and the Philadelphia Industrial Development Corporation. Edward Duffy’s interest in railroads dates from his role as liaison between the City of Philadelphia and various rail reorganization agencies in the early 1970s that resulted in the creation of Conrail in 1976.

We watch some stupid commercials, steer clear of Seattle's horse cops, take a ride on the Reading Railroad, have some excellent spa adventures, witness a shootout, Hulk out at a cabbie stricken with Uber-envy, freak out about corporations, hear more about Anthony's love life, leave our porn out for the maintenance guy, obsess over Wikipedia way too much, play Minecraft for grown-ups, praise our role models, and have a serious herp-chat. Starring Scott Bromley, Brian Altano, Anthony Gallegos, Ryan Scott, and Max Scoville.