Professor Carl Van Horn

As America’s unemployment problem only gets worse, researchers are revealing some disturbing responses and habits among those who can’t find work.

Bottom line:  The out-of-work are losing hope.

If you are unemployed, do you see yourself in this week’s interview?

Professor Carl Van Horn, director of the John J. Heldrich Center for Workforce Development at Rutgers University, shares some interesting and disturbing trends among the jobless, based on his study of 1,200 jobless participants.

The new study, Out of Work and Losing Hope: The Misery and Bleak Expectations of American Workers by Dr. Cliff Zukin, Dr. Carl Van Horn, and Charley Stone, was released just last week.

Two-thirds of respondents reported being depressed. More than half said they have borrowed money from friends or relatives. One quarter said they have skipped mortgage or rent payments.

Van Horn is afraid the situation will only get worse in the years ahead.

As Van Horn told CBS News recently, “This is not your ordinary dip in the business cycle.”

More Information

• Read more about the study, Out of Work and Losing Hope: The Misery and Bleak Expectations of American Workers.  Here’s the full report, press release and verbatim comments from survey participants
• CBS News coverage of the study:  Jobless Traumatized by Tough Economy
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Here’s how the Rutgers study was covered on last Friday’s CBS Evening News:

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Jay,

Thanks for taking the time to check out the protest and for having an open mind.

I’m done with the “law and order” (for everyone except the bankers) types. Turn on an AM radio and you’ll be treated to one ass clown after another demanding that the cops go in and start cracking heads open because those “flea-baggers” are breaking the law because they don’t have permits(!).

Got news for these sometimes lovers of freedom…the protesters…every god damned one of them has a “permit.” It’s called the Constitution.

I don’t remember seeing a damned thing in that document that says you only have a right to petition for redress of grievances with a permit issued by the government who doesn’t want to hear anything about said redress. Rosa Parks didn’t apply for a permit to stay at the front of the buss. Black men didn’t apply for a permit to sit at the lunch counter. The colonists didn’t apply for a permit to dump tea into Boston Harbor. Law breakers, each and every one. And they were all right to break those laws.

While I’m on this rant, let’s talk about some good, law abiding citizens. How about the ones who followed the law by hearding the Jews into boxcars so they can be hauled off to the concentration camps in Germany? How about the loyal law abiders who herded Americans of Japanese, German and Italian decent into camps right here in the US in the 1940′s?

- Message posted in the comments section

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"Occupy Wall Street" Comes to Austin, Texas

Today, the Occupy Wall Street movement came to my town:  Austin, Texas.

In this special episode of Financial Survival Radio, we hear from a few randomly-selected protesters who explain why they’ve joined OWS and what they expect from the movement.

While today’s demonstration was extensively covered by local TV news in Austin, there is a near-zero chance that they will actually broadcast some of the ideas expressed in these interviews.  Here’s a good example of how incurious local TV types are glossing over the story.

In this show, you’ll hear the protesters in their own words.  What do they really want?  What happens when hundreds of people show up, each with dozens of different agendas?

And more importantly, is this movement in grave danger of being co-opted by the very dark forces the protesters have come to oppose?

While I have had some suspicion and misgivings about OWS, today’s crowd in Austin left me feeling energized and hopeful.  People are indeed starting to wake up.

Update to something I mentioned on the show:  Apparently, I really suck at guessing crowd sizes.  While I had figured a couple of hundred people were present at today’s protest, the local paper says it was more like 1,200.

Photos

Protester and podcaster John Duffy

More Information

• Check out the Occupy Austin website
• Listen to the podcast of one of the protesters we met, John Duffy’s Grow Food, Raise Hell Podcast
• Click here to subscribe to our show via ITunes
• Click here to subscribe via RSS (Non ITunes feed)
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Jay,

Am I a celebrity now?

If you have the opportunity, listen to Rush’s second hour from today. He says essentially what I was saying sans the bloody endgame. The Occupy Wall Streeters aren’t simply opposing the banks. They are consciously attacking everything about America and doing it with Obama’s concurrence as we heard in his presser today. They are the enemies of freedom while the bankers are merely greedy.

We’ve already seen Michael Moore, Van Jones and the Worker’s World Party at this celebration of cynically false outrage. Who’s next? Noam Chomsky? Bill Ayers? Obama himself? Some wags are suggesting that the OWS event is being coordinated by the Obama adminstration as a shot across the bow at bankers and hedge fund managers who financially supported Obama 2 to 1 over McCain in 2008, but who look like they may jump ship the next time.

I don’t know if America and her financial system can be saved, but for the sake of those who invested a lifetime of sweat in the little that they have, we should be be making a real effort to preserve what is good and surgically remove what is bad. The idea of “let it all crash and we’ll rebuild” sounds like it came from a sophomore bull session fueled by weed. It ignores the inherent danger posed to those who have always done the right thing. I’m hardly suggesting that they be given a handout, only that they have a right to keep what they’ve earned.

Best regards,
Dr. Thorne

P.S. Another quadplex won’t save your cashflow when the rent is being paid in inflated and worthless dollars.

Doctor,

I don’t agree with everything you say, but I have to admit — there is something about OWS that just doesn’t sit right with me.  It does not look and feel like a truly honest, organic movement (jeez, wasn’t the whole thing hatched by the Canadian magazine Adbusters?).

When these kinds of things crop up – especially in the US – I always step back, scratch my head and wonder who really ginned the whole thing up.  In this land of TV and Smart Phone zombies, very little happens here that isn’t totally mediated by corporate masters.

Don’t get me wrong.  The economy is broken, and it was indeed wrecked by banker greed.  OWS is full of well-meaning protesters who have been genuinely hurt by those banksters.

But I’m afraid you’re absolutely right about one thing:  Occupy Wall Street has been co-opted by unseen and powerful forces that wish to channel the ire of protesters toward a system that’s far worse, far more tyrannical that what we’ve got now.

Are these protesters absolutely sure they know what they’re asking for, and what it would mean?

Aside from that brief thought, I’m still mulling Occupy Wall Street.  More later.

Jay

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SEE UPDATE 10-6-11 here…

Keiser: High on helium?

Jay,

[Max] Keiser sounds like he’s been huffing helium. His dream of a destroyed American financial system would be the most endemically lethal thing that ever happened to Americans – my family, my neighbors – with an outcome like an insane child playing with the nuclear football. He’s a crackpot and not particularly bright. How much did you pay him for this interview, Jay? Or will plugging his website generate sufficient funds to keep him in demi-tasse and Gauloises?

Most of the Wall Street occupiers are so far to the left that they can easily be called communists. The presence of the execrable Worker’s World Party, who are still unrepentant Stalinists, is the prime indicator. There were plenty of hammer and sickle flags in Tahrir Square and the media didn’t report that either.

As detestable as the Wall Street bankers are, they haven’t butchered over 100 million people as did communists in the 20th century. If it comes down to a fight for America, I’ll hold my nose and fight on the Wall Street side. The communists don’t really want reform, nor do they want to liberate me and my family.

They want blood. They always want blood.

Dr. Thorne

See update 10/6/11 here…

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Max Keiser

RT Network and Press TV financial analyst Max Keiser is here to offer a preview of America’s financial future.

Based on events unfolding now, Keiser says the US economy will eventually revolve around prison labor and online gaming.

One of the biggest red flags, he says, is the emergence of online games like Zynga’s FarmVille, where people spend time and money to grow virtual vegetables, as I understand it.

Max also talks about the recent downturn in gold and silver prices.  Is this a case of continued manipulation, or is something else at work here?

Keiser fully supports what he has called a “global insurrection against banker occupation (GIABO),” and talks about the chances of success for the current “Occupy Wall Street” movement in America.

And what, in Max’s opinion, is the biggest sucker’s investment out there in the US today, whether it be an investment of money or of your time and energy?

More Information

• Watch Max’s shows and read his blog at MaxKeiser.com
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From Zero Hedge:

About a month ago, after everyone in the wholly conflicted media (just ask one question: who pays all that advertising money – nuf said), on both the left and the right, was ignoring the most promising presidential candidate this country has had in decades, Jon Stewart decided to take Ron Paul under his wing, and made it clear that while those who don’t matter can pretend to ignore Ron, the one man who does, and who reaches more than most of the legacy “serious media” combined, has certainly noticed Paul. Naturally Stewart could have left it there, especially given his own personal political view. To his great credit, he did not. Instead last night in an extended exclusive interview, he presented Ron Paul in a way that he should have been presented from the beginning: no tricks, no gotchas, no gimmicks, no commercial breaks every 45 seconds. Hopefully this is the beginning of the transition of the Paul campaign to one where he has enough critical mass to be taken seriously by everyone – something “everyone” should be doing regardless.

 
PART 1

PART 2

PART 3

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Jay,

Great show this week.  I’ve been listening for over a year and I found this to be the most informative and interesting episode.  Keep us updated on the real estate search.  Sharing your thought process as you consider different investment properties is very informative to the first time potential real estate investor.    Refreshing change from the vanilla real estate investing books.  Hopefully you can keep up the shows on a weekly basis.  How about silver’s drop today…brutal.  Might be a good time to pick up some physical.

Take Care,

Bill

/ / /

Hey Jay and Crew,

I would first like to say you have an EXCELLENT Show!!!  Very Informative and very entertaining. Keep it up.

Listening on your show I was wondering if you were aware that your parents may be able to acquire a property with less cash out of their pockets, as well as you. Have you guys thought about doing a temp to perm loan  (Temporary Hard Mooney to Permanent FHA loan? The temporary Hard money allows you to borrow up to 70% of the ARV of the property to get in with less cash out of pocket that is refinanced into a fixed rate FHA loan after repairs, which could cover the whole cost of the property with the right deal.

I learned this following this mentoring Group / REIA called Lifestyles Unlimited. Please check them out. I am not a member yet, but I have been going to their free workshops and case Studies. I think these guys would take your investing endeavors into OVERDRIVE. They are based in Houston, but have formed groups in Austin, San Antonio, Dallas and Ft. Worth as well. They also have downloadable podcasts of radio shows they do daily. They teach single family and Multifamily Property investing.Please check these guys out . They have been around for 21 years and they have a very good business philosophy and mission (to teach people financial freedom through real estate investing). Their motto is “It’s not the money, it’s the lifestyle.”

Check them out when you get time…

Alvin

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I'd better not screw this one up

I have received instructions from my mother-in-law to find her a cash-flowing fourplex, pronto.

She would prefer that I find the property somewhere in her own town of Killeen, Texas, which is home to the Fort Hood Army Base.

We’re trying to find something that cash flows $1,000, which is possible, but also comes with several risks.

Here’s a link to the first property mentioned on the show:  1313 Quail Circle.

And here’s the second fourplex we found at 4305 Abigail.

You’ll hear why we were attracted to both of these listings, and you’ll also hear why we have scratched these two properties off our list.

Our search is just beginning.  We’ll be sure to keep you posted on how it all turns out.

More Information

• Got any advice for us in our search for a 4plex?  Send us an email or call our listener feedback line (see the upper-right column of this page for all the contact info).
• Right after I recorded this podcast, I noticed this AP story:  “In America, it’s starting to feel as if there are two housing markets. One for the rich and one for everyone else.”
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Does this man stand a chance?

As the US presidential campaign begins, we’ve noticed major TV and print media are repeating a huge lie, over and over again.

The lie is this:  That Congressman Ron Paul is not electable.  Or that anyone else, for that matter, is unelectable besides three anointed candidates within the entire Republican party.

Are you buying it?  I’m afraid a lot of people are.

The concerted media effort to marginalize people like Ron Paul really demonstrates the danger of consuming what Catherine Austin Fitts has described here on the show as “tapeworm media.”

We also talk about our strong opinion that now is the time to begin loading up your IRA or 401K with physical gold and silver, if you haven’t already.

You can help get the word out to the people you care about by telling them about our online class, 401K and IRA RESCUE:  How to Safeguard Your Retirement Account from the Coming Economic Emergency.

More Information

• Learn more about Ron Paul’s presidential campaign
• Watch CNN’s Candy Crowley do a mind trick on her viewers
• Download 401K and IRA RESCUE:  How to Safeguard Your Retirement Account from the Coming Economic Emergency
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Pasha Roberts

Pasha Roberts joins us this week to talk about his upcoming film, Silver Circle.

It’s an animated action-adventure movie which will appear soon at film festivals across the country, and then hopefully onto a nationwide theatrical release.   Pasha is the writer, producer and director for the film.

In this interview, Pasha describes the film’s depiction of America in the year 2019, when Federal Reserve troops occupy the streets, and citizens wisely begin rejecting worthless paper money, instead bartering in their own silver currency.

The film also explores a very real possibility – the Fed’s potential takeover and further manipulation of the housing market.

We also talk about the issues involved in getting a film like this produced these days.  What does the future hold for these kinds of films, which further promote precious metals and liberty?

You’ll also hear us both grumble a bit about how poorly the gasping, wheezing, dinosaur media (I’m looking at you, CNN) is treating presidential candidate Ron Paul.

More Information

• Check out the Silver Circle movie website and learn how you can help support the film
• Read the Silver Circle Underground blog
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Kim Kiyosaki

When I first heard this interview with Rich Woman author Kim Kiyosaki on Jerry Robinson‘s Follow the Money Weekly show, I couldn’t wait to share it with my audience.

Kim is the wife of Robert Kiyosaki, author of Rich Dad, Poor Dad and Unfair Advantage.

In this discussion, Kim talks about how she got started in her real estate investing career, and how the smartest investors can creatively put deals together.

While Kim tends to focus her message on women investors, her personal investing story is fascinating, educational and totally applicable to both sexes.

For example, in the current economy, many people mistakenly believe they cannot invest in real estate due to a poor credit score or any other factor that causes a conventional lender to say, “no.”  Kim remembers how crappy her own personal finances were back when she got started, but she managed to plow forward anyway using seller-financed transactions as a key investment tool.

She also explains why doing well as an investor may all come down to who you choose to hang around.

Jerry did a fantastic job with this interview, and we thank him for allowing us to replay it here on our show.

More Information

• Check out Kim Kiyosaki’s website, RichWoman.com
• Kim and her husband Robert lead the Rich Dad Company
• Listen to more episodes of Jerry Robinson’s Follow the Money weekly radio show
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Greenspan: "We can always print money."

Stick a fork in it – the US Dollar is a goner.

Within the past couple of weeks, the US Government and Federal Reserve have all but confirmed that the Dollar will be hyperinflated into oblivion.  I draw this conclusion after a series of news events and announcements that were made just recently.

In this episode, we review a recent appearance made by former Federal Reserve chairman Alan Greenspan on NBC’s Meet the Press, in which Greenspan stated it was impossible for the US do default on its debt because “we can always print money.”

This blunt statement came just as the Federal Reserve confirmed it will leave interest rates near zero at least through 2013.  This means people who save money are going to be creamed, and debtors and speculators will continue to have the upper hand.

We also listen to a recent TV interview with legendary investor Jim Rogers who does a great job of summing up what’s happening lately, and what it all means to investors.  When asked by the interviewer if the US is about to devolve to the point where life becomes all about “firewood and field plowing,” Rogers said yes.

How do you protect yourself financially from the coming destruction of the dollar?  We explore a few ideas this week.

More Information

• Hear Jim Rogers’ appearance here on Financial Survival Radio last April
• Read Robert Kiyosaki’s analysis of Bank of New York Mellon’s decision to begin charging depositors for holding their money (free subscription required)
• Get a little more truth in your TV news by watching RT – Russia Today
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Unfortunately, we do not have a show for you this week because I’m in Louisiana once again, working on two – maybe three – real estate deals.

Every now and then, I hear from people who think I’m nuts to be doing this right now.

But what else do you do (besides load up on gold & silver) when it becomes crystal clear that the Dollar will be hyperinflated?  I mean, isn’t that the crux of this week’s Fed meeting?

WASHINGTON (AP) – The Federal Reserve guaranteed super-low interest rates for two more years Tuesday – an unprecedented step to arrest the alarming decline of the stock market and the economy. Wall Street roared its approval and finished a wild day with a 429-point gain.

The rally was remarkably fast – the Dow Jones industrial average was still down for the day with less than an hour of trading to go – and enough to erase two-thirds of its decline the day before.

The Fed set its target for interest rates near zero in 2008 as a response to the financial crisis that fall. Since then, it had said only that rates would stay low for an “extended period.” On Tuesday, it guaranteed them until mid-2013.

But it was also a sign that the Fed expects the economy to stay weak for two more years, longer than the Fed had previously indicated. It has already been more than two years since the end of the Great Recession.

The central bank left open the possibility of a third round of bond purchases designed to hold interest rates down and push stock prices up. The second round, announced last year, led to an extended rally for the stock market.

So, yeah, what do you do?

Me?  I’m going into lots of fixed-interest (good) debt – as much as I can get my grimy hands on.  I’m borrowing tons of soon-to-be worthless paper dollars to buy real, tangible, clean, bargain-priced multi-family rental properties that will stay filled with tenants who will willingly pay off my loans.

These really are the best of times for real estate investors who are focused on cash flow rather than capital gains.  I truly do not care whether the deals I’m working on ever go up in value so I can sell them later.  In fact, I fully expect their market value to crash even harder.  But again, I don’t care.  I never meant to sell anyway.  Instead, I just want them to spit out cash every month for the rest of my life.

Curiously, the recent turmoil in the financial markets appears to have made quite a psychological impact on several of the parties I’ve been negotiating with. Many “investors” can’t get rid of their real estate fast enough these days, and are willing to agree to just about anything for me to take those properties off their hands.

Why are these sellers so spooked?  It’s not that there isn’t a huge line of people who want to rent these homes and apartments, it’s that there are so few investors out there willing to buy them.  Especially in off-the-radar real estate markets like the one I’m targeting.

The worse the economy gets, the higher my rental occupancy rate goes, and the higher classes of tenants I begin to attract.  I recently signed new lease agreements with a registered nurse, an executive chef and a college professor.  Five years ago, it was all Wal Mart and Taco Bell employees.  These are interesting times.

I plan to talk more about my personal plan for financial survival here on the show next week.

Until then, might we suggest you get caught up on the latest KunstlerCast episodes, or perhaps Two Beers with Steve?

OH, by the way — your Congress is bought. Enjoy this tiny hint of recognition about what’s really going on from a major media outlet: (Hint: It starts getting real around 3:45)

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