Coping with the Crash

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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.”

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Here’s how the Rutgers study was covered on last Friday’s CBS Evening News:


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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.

 

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Protester and podcaster John Duffy

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Catherine Austin Fitts

In the second installment of our 2-part interview with investment advisor Catherine Austin Fitts, we hear her advice for both the young and young at heart in navigating today’s job market.

Catherine remembers how she had to reinvent herself during a professional crisis of her own several years ago, and how job seekers today can learn from it.

Also, what does the future hold for real estate investors in the current politically-managed economy?  Who will win and who will lose?

I also couldn’t resist asking Catherine about those ubiquitous “Silver is going to $500 an ounce!” news articles that never fail to capture my attention.  I very much want it to be true — but are we really going to see $500 silver (heck, even $300 silver) anytime soon? You don’t want to miss hearing Catherine’s answer in this week’s audio podcast.

Catherine also weighs city versus country living in financially turbulent times.

And hear why it’s more important than ever now for investors to embrace volatility.

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Catherine Austin Fitts

Investment advisor Catherine Austin Fitts joins us again for a fascinating 2-part interview.

In this first half of our discussion, Catherine explores whether we are going through an economic collapse – or if, in fact, this economic “breakdown” we’re witnessing is actually a carefully planned re-engineering of the world’s economic system.  Catherine breaks down the meaning of what she calls “a politically-managed economy.”

We also talk about technologies and medical breakthroughs that are being supressed by the global elite.  Knowing what she knows, what would Catherine do to find a cure if she were to ever be diagnosed with cancer?

We also discuss why I am personally avoiding corporate health insurance, and some of the alternatives to it that Catherine is currently exploring.

Next week:  Hear Catherine’s advice about the current job market for both the young and young at heart.  Plus, find out how she personally reinvented herself during her own professional crisis years ago.  Also, what are the chances of seeing $500/oz. silver soon?

 

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#041 – Hey Teens, the Old Fogeys Want Your Low-Wage Summer Job; Plus: Becoming Mr. & Mrs. Roper

July 7, 2011
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Want a Job? Become a Landlord – like us After a month-long break from podcasting, I’m back along with my wife Michele to talk about what we’ve been up to. You might say we now have something in common with Mr. and Mrs. Roper from the old Three’s Company sitcom:  We’re now landlords. A recent [...]

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#011 – Seeing the Ghost of Christmas Future: “Peak Oil Shrink” Dr. Kathy McMahon

June 30, 2011
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We’re taking a break from podcasting for the remainder of June in order to focus on an important business project. Until we return with new shows in July, please enjoy one of our favorite “retro” episodes of Financial Survival Radio. Dr. Kathy McMahon This episode was originally released on November 25, 2010. Peak Oil is [...]

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#039 – Jim Stovall Explains How Economic Collapse Can Turn Into an Ultimate Gift

May 26, 2011
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It’s been more than 10 years since Jim Stovall wrote a short novel called The Ultimate Gift. Somehow, the book made its way to our house about a week ago and I could not put it down.  I read the whole thing in one afternoon.  The book contained some simple messages that seemed to come [...]

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#034 – The Great American Sell-Off: Boomers Struggle to Sell a Lifetime of “Stuff”

April 21, 2011
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America’s elderly, baby boomers, their families, and well, just about everyone else is finding it harder these days to unload their “valuable” stuff.  Smart Money magazine recently ran a cover story entitled, “The Great American Sell-Off,” which explained just how tough it has become for professional liquidators to do their jobs. This week we talk to [...]

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#031 – Is It Okay to “Walk Away” from Your Mortgage? What Can Your Lender Do to You?

April 7, 2011
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After watching last Sunday’s 60 Minutes report on the ongoing “Fraudclosure” scandal, I thought it would be a good time to replay an interview with Douglas French, author of Walk Away: The Rise and Fall of the Homeownership Myth. You can download the book for free. “The book examines the background to the case of ‘strategic [...]

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#030 – Remembering Joe Bageant, with Thoughts on Exiting America & Village Life in Mexico

March 31, 2011
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Deer Hunting With Jesus: Dispatches From America’s Class Wars author Joe Bageant died last weekend following a four-month struggle with cancer. He was 64. Joe’s writing represented a huge diversion from the typically capitalist investor-oriented literature I’m so often drawn to… I always took great comfort in his written essays about the absurdity of American politics not to mention [...]

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