The Largest Wealth Transfer In History @TheJuliaLaRocheShow

The Julia La Roche Show | The Largest Wealth Transfer In History @TheJuliaLaRocheShow | Uploaded January 2023 | Updated October 2024, 11 hours ago.
Carol Roth, a “recovering” investment banker, financial television commentator, entrepreneur, and best-selling author, joins Julia La Roche on episode 48 to discuss her last book “The War On Small Business: How The Government Used The Pandemic To Crush The Backbone of America.”

Carol’s book highlights how the government's actions during the COVID-19 pandemic favored the wealthy and well-connected at the expense of small businesses. This has led to a consolidation of power and wealth, with small businesses struggling while the stock market reached new highs. According to Carol, this is not a new problem, but the pandemic exposed it. In "The War on Small Business,” Carol details the abuses of power inflicted on small businesses during the pandemic and argues that government is the problem, not the solution. The book also advocates for decentralization to help small businesses and individuals participate in wealth creation.

In this episode, Carol discusses how capitalism in the U.S. is being replaced by cronyism, the Fed’s role in this epic wealth transfer, the nonsense surrounding ESG and the nefarious side of that movement, her biggest fear when the next pandemic arises, and more.

0:00 Intro
1:05 “Recovering” investment banker
3:04 Cronyism replacing capitalism in the markets
4:00 Fed tipping the scales and picking winners/losers
5:40 A focus on short-termism
6:15 ESG nonsense
7:23 Why write “The War On Business”?
9:30 Still the most underreported story of the epic wealth transfer
10:40 The “Black Swan” was the government’s reaction to the pandemic
12:50 Partial lockdowns, not full lockdowns
15:00 “All in this together” got “completely bastardized”
16:00 Impact on small business owners like Shelly Luther
19:05 Carol’s “biggest concern” about future pandemics
20:40 Less trust in government, media
21:28 Covid amnesty?
24:30 Importance of small businesses in U.S.
26:38 Central planning is “America’s worst trade deal”
27:33 Capitalism is freedom and choice
30:00 Assessment of capitalism today
32:34 "A failed experiment for the average American”
36:30 Ways to reform the Fed
38:50 The Fed’s actions got us here
41:48 The epic wealth transfer
44:38 Millennials, Gen-Z making more money, but don’t have as much wealth
47:05 Fed’s role in financial institutions buying up homes
47:33 Nefarious side of ESG
50:25 Worried about personal recessions
54:15 Parting thoughts

#economy #smallbusiness #investing

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$What The Huge Downward Revision In The Jobs Data Means For The Economy | Dr. Lacy Hunt Legendary economist Dr. Lacy Hunt joins Julia La Roche on episode 192 for a wide-ranging discussion on the deteriorating economy. ✨ This episode is sponsored by Public.com. Lock in your 6.9% yield: https://public.com/julia ✨ In this episode, Dr. Hunt explains that non-farm payrolls overshot by five standard errors, making it the worst miss since a 9 standard one for 2009, during the GFC recession, and marking another bureaucratic failure. According to Dr. Hunt, the reported overshoot of 818,000 was based on an internal seasonally adjusted series, but based on the nonseasonal adjusted data, the overshoot was actually 915,000. Dr. Hunt explains that the non-farm job miss means that productivity will be revised up while unit labor costs will be revised down. Personal income and Gross Domestic Income will be revised downward, and the personal saving rate will be reduced from its already very depressed level of 3.5%. Dr. Hunt is an internationally known and award-winning economist. He received the Abramson Award from the National Association for Business Economics for outstanding contributions in the field of business economics. Dr. Hunt is Executive Vice President and Chief Economist of Hoisington Investment Management Company (HIMCO). This is the 55th year in Dr. Hunts career. He served as a Senior Economist for the Federal Reserve Bank of Dallas. When he entered the Fed, William Martin was chair and was grappling with severe inflation and when Dr. Hunt left the Fed, Arthur Burns was chair and also trying to contain rampant price increases. Dr. Hunt served 23 years on the Board of Trustees at Temple University where he received his PhD in 1969, and is an honorary life trustee as well. ✨ This episode is sponsored by Public.com ✨ Paid endorsement for Public Investing, Inc. Not investment advice. All investing involves the risk of loss, including loss of principal. Brokerage services for US Listed and registered securities, options and Bonds in a self-directed brokerage account are offered by Public Investing. ETFs, options and Bonds are available to US members only. *A Bond Account is a self-directed brokerage account with Public Investing, member FINRA/SIPC. Deposits into this account are used to purchase 10 fractional investment-grade and high-yield bonds. The 6.9% yield is the average annualized yield to maturity (YTM) across all ten bonds in the Bond Account, before fees, as of 8/23/2024. A bond’s yield is a function of its market price, which can fluctuate, and a bond’s YTM is “locked in” when the bond is purchased. Your yield at time of purchase may be different from the yield shown here. The “locked in” YTM is not guaranteed; you may receive less than the YTM of the bonds in the Bond Account if you sell any of the bonds before maturity, or if the issuer calls or defaults on the bond. While corporate bond yields should fall in reaction to a Federal Reserve rate cut, we cannot know whether that will be true of the bonds in the Bond Account, how quickly bond yields will respond, or how much they will decline. Public Investing charges a markup on each bond trade. Bond Accounts are not recommendations of individual bonds or default allocations. The bonds in the Bond Account have not been selected based on your needs or risk profile. Fractional Bonds also carry risks including liquidity risk, interest rate risk, credit risk, inflation risk, and potential tax liabilities. Read more about the risks associated with fixed income and fractional bonds and learn more about the Bond Account at https://public.com/disclosures/bond-account. ✨ Lock in your 6.9% yield: https://public.com/julia ✨ Timestamps: 0:00 Welcome Dr. Lacy Hunt 1:16 Macro picture 3:37 Downward revision in non-farm payrolls is significant 5:45 The 818,000 error is actually 915,000, according to Dr. Hunts model 9:00 The economy is deteriorating 15:24 Net national saving shows we have a problem 21:40 The seriousness of negative net national savings 25:00 Decline in the standard of living 34:50 Possible solutions, shared sacrifice 40:00 Fiscal dominance is a very real possibility 45:40 Fed is behind the curve 47:37 Where are we in the economic lifecycle 49:44 The global economy$

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