Financial Sense Newshour
In this week’s Lifetime Income Series Jim looks at the big question: What’s your number? This refers to the specific result of putting together a true retirement plan, how it works, and how it leads to financial security. In the second part of this broacast, Jim discusses how once you have determined your “number” the investment strategy to meet your retirement goal falls into place.
Jim is pleased to welcome back Joel Salatin of Polyface Farm in Virginia. Joel is a farmer, an author and a strong advocate for creating sustainable agriculture without government subsidies. Joel notes that in the last 50 years, Americans have doubled their consumption of wheat. Joel believes the obesity and diabetes epidemics, gluten intolerance and celiac disease are all the direct result of the government wading into the food arena. Salatin’s books include Everything I Want to Do is Illegal and Folks, This Ain’t Normal.
Jim welcomes Mark Nestmann, from the Nestmann Group LLC to discuss second passports, international tax planning, and expatriation. Mark looks at offshore tax and reporting obligations for U.S. citizens and permanent residents, as well as what you must...
Jim welcomes back John Williams, Executive Editor at Shadow Government Statistics. John looks at what’s coming ahead, and he sees a bleak situation. John believes there are simply too many unfunded liabilities to tax our way out of this situation. The only path leads to higher inflation, and none of the proposed political solutions will fix the problem. The only realistic way out is to drastically reduce entitlements, which John sees as politically impossible. He sees higher tax rates leading to slower growth, higher unemployment, and economic recession, or worse.
Jim welcomes Marin Katusa, Senior Market Strategist at Casey Research to discuss a potential carbon tax in the US. Marin believes it will happen because the government, the large oil companies and environmental groups all want it to happen. The oil giants such as Exxon will benefit because of their involvement in natural gas production, which will become more attractive to utilities as a carbon tax pushes up the cost of coal as an energy source. Marin advises investors to avoid coal producers and focus on the oil majors, natural gas production companies, and natural gas pipeline transportation companies.
Jim welcomes Richard Dickson, Chief Market Analyst at Lowry Research to the program. Richard believes we’ve hit a significant bottom in the market (click here for chart), and we’re going up from here. He sees strong indications of another new market high coming next year.
On this week’s Big Picture, Jim looks at three topics, starting with “The three D’s: Demographics, Debt & Deficits - the End Game”. Jim’s next topic is “Unfair & Unbalanced- What the Media isn’t telling you”.
In this week’s edition of The Lifetime Income Series, Jim begins by taking a close look at the “Stretch IRA”, discusses it’s benefits and provisions, and explains why it may prove beneficial in your estate planning process.
Jim welcomes Ron Hera from Hera Research LLC to discuss his views on financial repression. Ron believes the current version is going to fail, and is very different from the period of financial repression following World War II. Today, the debt levels are higher, savings are lower, and GDP growth is slower. Ron believes economic growth will remain anemic for decades due to debt levels growing faster than GDP. He sees a gradual fading of American capitalism as the country moves toward central planning. Ron believes the last line of defense against this is to accumulate hard assets.
Jim welcomes energy expert Gail Tverberg to the program. Gail believes there are flaws in the recent IEA energy forecast, and sees diminishing returns on Energy Return on Energy Invested (EROEI). She doesn’t see the US becoming the world’s largest oil producer by 2020, and doesn’t believe that shale oil will make the US energy independent in the future. She believes we could find ourselves reaching “peak oil” because of an economic dilemma: while there seems to be plenty of oil available, the cost of extracting it may be reaching a point where it is more expensive than consumers can afford, and will be left in the ground.