In today’s episode, Jason Hartman shares that it’s looking more likely that technology will save the world and America’s role in developing the technology. In the interview segment, Jason welcomes Consuelo Mack of WealthTrack. Consuelo talks about China’s current state and how their family policy will affect their economy. They also talk about diversification of investment portfolio and alternative investment options available.
Announcer 0:00
This show is produced by the Hartman media company. For more information and links to all our great podcasts visit Hartman media.com.
Announcer 0:10
Welcome to the flashback Friday edition of the creating wealth show with Jason Hartman. As he rapidly approaches 1000 episodes of this podcast, he has hand picked individual episodes that he feels is going to be good review for you to prepare you for the future by listening to the past. Let’s dive in.
Announcer 0:29
Welcome to the creating wealth show with Jason Hartman. You’re about to learn a new slant on investing some exciting techniques and fresh new approaches to the world’s most historically proven asset class that will enable you to create more wealth and freedom than you ever thought possible. Jason is a genuine self made multi millionaire who’s actually been there and done it. He’s a successful investor, lender, developer and entrepreneur who’s owned properties in 11 states had hundreds of tenants Get involved in thousands of real estate transactions. This program will help you follow in Jason’s footsteps on the road to your financial independence day. You really can do it. And now here’s your host, Jason Hartman with the complete solution for real estate investors.
Jason Hartman 1:19
Thank you so much for joining me today from beautiful Boulder Colorado. Yes, Boulder, Colorado. I’ve spent the past few days in Denver at a an entrepreneurs mastermind meeting and it’s just been so valuable. You know, I tell you this concept that I guess Napoleon Hill was really the first to originate if not probably just promulgate he probably got it from somebody else. But the idea of masterminding and these mastermind groups, and I’ve really been doing it a lot lately for the past two years. It’s just been incredibly valuable to me. So if you are not in a mastermind group, I would encourage you to get together with a few of your friends. Get involved in some things like this in some form or another, it may be online, it may be virtual. I’ve been planning to start a mastermind group myself, for real estate investors and real estate entrepreneurs for about a year and a half, two years now, and I’m gonna announce that pretty soon I’ve been working on it. And if you have any feedback, I’d love to hear from you as listeners and clients. You know what your idea is and what your feedback on that subject is, we’d love to hear from you. Our guest today will be CONSUELO MACK, and she just did an awesome interview where we talked about the American Renaissance. And I think you’ll really enjoy that you’ve I’m sure heard her name. She’s a very well known financial news anchor and reporter and she’s host of WealthTrack on PBS right now and her career has spanned quite a while and she’s done quite a lot of great things. And one of the things she talks about in this interview you’re about to hear what one of her friends called their favorite emerging The market and that is the Midwest is if it’s a country, an emerging market, you know, that’s commonly referred to as a country or a, a continental region, like someone might say that about, you know, Eastern Europe is their favorite emerging market or Africa or something like that right in here. They’re talking about it as the as the Midwestern United States, which is quite interesting. So the head of this group just walked in, I tell you with this mastermind group, it is amazing to me and as we talked to CONSUELO MACK today about the American Renaissance, it is amazing how bright these young people are. So I just talked to the head of this group. His name is Dimitri and I had him on one of my other shows on speaking of wealth, and this group called next is for entrepreneurs who are 25. And under, they’ve got businesses that are profitable. They’re doing over six figures annually. And it is just amazing to me how bright some of these kids are, and you know, I’m gonna call them kids because they’re coming They’re Generation Y. They’re the millennial generation, as mismanaged as our government is in the United States and governments around the world. I’ve said it before, you know, technology could save us all. We’re seeing it here. I’ll give you an example of a conversation. Dimitri mentioned that I should meet one of the kids last night and this guy is 19 years old. And he is creating software that goes with the Apple Watch. And this software is basically going to monitor people’s heart rates as the Apple Watch does. But it’s going to monitor them for certain things. And they’ve discovered that just with heart rate only data that can make up about a 70%. I guess I want to say that in my saying it right at a 70% accuracy, in terms of what kind of stress level that person is experiencing. What are their chances of fainting or having a high blood pressure episode and predict this 10 minutes in advance. Remember, you’re listening to flashback Friday. Our new episodes are published every Monday and Wednesday. So, I mean, we’re just going to be blown away the amazing technology that is on the horizon. It’s just incredible. And I think America is at the center of a lot of this because of the individualistic that rugged, individual type mentality that the country is sort of based on. You know, there’s certainly a lot of other innovation around the world. No question. You see what’s going on in Israel and in Asia, and Europe, there’s no shortage of innovation. Okay, it’s worldwide. But I think America kind of holds a special advantage here in a lot of ways. And I certainly have more than enough complaints about America and enough criticisms, but there are some great things going on at the same time. So I’m going to get to my mastermind meeting here. I’ll be here to Wednesday. Oh, but one more thing. I want wanted to say about Boulder. That’s kind of interesting. Many of you have probably been to beautiful Boulder, Colorado, which is where I am for the next couple of days. And of course, you know, with the recent untimely death of Robin Williams, the show that made him famous Mork and Mindy, you know, remember that show from years ago? If not Google it. You can find some YouTube videos. The show that made him famous, was filmed here in Boulder, it took place in Boulder, Colorado. It reminds me of that riddle that I always talk about in the creating wealth boot camp. I always say, what do you call a developer? It’s someone who wants to build a house, in the woods or at the beach. And then I say, Well, what do you call an environmentalist? Somebody who already has a house, in the woods or at the beach? You know, it’s that old NIMBY syndrome, not in my backyard, and boulder typifies that extremely well. And when you look around here, I mean, real estate prices are Very, very high. Aspen is the same way a lot of these mountain towns where you have this big environmental movement. So I looked around at Real Estate here yesterday, of course, I already knew in advance what I was going to see, which wasn’t positive for investors. When I was on the way back from Singapore and Thailand a couple of months ago, I sat next to a guy on the plane that owned a bunch of rental properties in Boulder. And the rent to value ratios in a place like this are nothing short of awful. So you know, you’d get a $450,000 11 or 1200 square foot, condo hair here or maybe a detached home if it’s on the outskirts, and it would rent for 1800 to $2,000. So less than point five RV ratio that’s literally as bad as anything in California, Orange County, LA, my old hometown. The quote the Jason Hartman quote you want to remember for this is invest in places that you Makes sense. So you can afford to live in places, beautiful places like Boulder. That’s just one example of many that don’t make sense. Invest in places that make sense. So you can afford to live in places that don’t make sense. So that’s my reminder for the day for you. So before we get to our guest, Consuelo Mack, I want to remind you join us for the Birmingham property to where I made my flight reservations a few days ago, and I do have to say you want to do this quickly because we are getting close to the holiday season and those flights start filling up and they do get a little more expensive. So be sure to book your flight for the Birmingham property tour ASAP. I know many of you have registered and we look forward to seeing you the weekend before Thanksgiving. We’ll have the creating wealth in today’s economy boot camp that’s on the 22nd of November and then on the 23rd we will have the property tour where you will see what I call minimalist management, bulletproof properties. So I think You’ll enjoy that very, very much.
Just a reminder, you’re listening to flashback Friday. Our new episodes are published every Monday and every Wednesday.
It’s my pleasure to welcome CONSUELO MACK to the show. She is host and executive producer of WealthTrack on PBS, and former managing editor and anchor at the Wall Street Journal of the weekly syndicated business program, The Wall Street Journal report. Consuelo, welcome. How are you?
Unknown 9:27
Thank you, Jason. I’m fine. And thank you for spending some time with me. The
Jason Hartman 9:32
feeling is mutual. Thank you. It’s great that you’re joining us and I assume you are located in New York today. Is that correct? Yes, I am. I always like to give our listeners a sense of geography because they’re all around the world. One of the things that you’ve been covering and thinking about lately, and I just love this, by the way, is this idea of an American Renaissance and there is so much innovation going on. I think without a doubt America still leads the world in innovation. Maybe that rugged individually. Islam concept here is just such so ingrained in all of us that helps create innovation and look at what’s going on in energy, the possibility of exporting oil actually My God, is that a switch or what? What are your thoughts on this Renaissance,
Unknown 10:14
There is a tremendous change going on. It’s going to be with us for decades, and it’s a positive change. for Americans. It’s also a positive change, I think, quite frankly, for the world. And that is, for the last 10 years or more, we have been covering on WealthTrack something we’ve called the New World Order. And unfortunately, the New World Order was that China was taking over as the driver of world economic growth. It surpassed Japan as the world’s second largest economy several years ago. It was rapidly growing, it was catching up to the US and it seemed as if, while the US was not quite standing still, but was certainly in a sluggish growth mode that China was just going to take over everything that has completely changed. And I’m glad of it right now, there are several leading economists on wall street who are saying that the New World Order has become the old world order, and in fact that the US is now and will be the driver of world economic growth for the foreseeable future. And we’re talking about a long term trend. There are a couple of reasons for this. And one is that you alluded to number one, we have an energy renaissance in the US with the unleashing of new resources in petroleum based products in both natural gas and oil, with fracking and the unleashing of the oil and gas and shale, and shale formations, which is just a revolutionary technology. And what it means is that the US is now in a position where it actually can, can export oil and gas and it’s also in a position Where it is becoming the world’s leading producer of petroleum products and surpassing Saudi Arabia even so this is a tremendous advantage for the US, both from a national security point of view, but also from an economic point of view, because it means that, that that fossil fuels, whether we like it or not, are still 99% of the the energy source for the US and basically, almost for the world. And it means that our energy supplies are going to be plentiful, and they’re going to be cheaper. It gives us tremendous competitive advantage. The second thing that’s happening and it’s related to this is that there is a huge manufacturing Renaissance going on. There’s a wonderful economist named Nancy lazaar, who’s the head of a firm called Cornerstone macro, and she’s been perennially ranked as one of the wall street’s top ranked economists. And he calls the Midwest her favorite emerging market. And what is happening is that isn’t that great. You’re your favorite emerging market and So, you know, the Midwest because of this energy Renaissance, and also because of the fact that we do have a system based on law that well, all around the world in China, especially wages and costs of doing business have gone up. And and there’s not transparency. There are tremendous corruption problems. There are tremendous pollution problems, that the US is suddenly looking like a pretty darn good place to do business. And we are actually seeing manufacturers repatriating us manufacturers are repatriating to the to the US, and specifically to the Midwest because the infrastructure is there for manufacturing. And we’re also seeing major foreign manufacturers looking at the US and actually building plants here as well and leaving where they used to be, which were places like China and India. So it’s this you know, double advantage in these are long term lasting trends and it’s just too great. story for Americans and I think for the rest of the world.
Jason Hartman 14:03
And when you look at the technology side, two things that I think correlate pretty well with what you were just talking about is, you know how we can we think at least we can look forward to a world of declining energy prices amazingly. Okay.
Unknown 14:19
And it looks amazing. It’s like a huge tax cut. It’s very few letters for consumers and business, no question about it. And I think it was
Jason Hartman 14:25
Lockheed, that announced that new breakthrough in fusion technology, that could be very exciting. I’m not sure who it was. But anyway, you know, the idea of fusing atoms together rather than splitting them to make power which is clean, no waste, much more portable, unlimited, amazing, amazing opportunities.
Unknown 14:44
It is amazing. There’s another facet of this as well and in the US regaining the role of the leader in world economic growth and power and, and that is the fact that we are looking at our economy. I know that a lot of investors are very concerned about what’s going on in China that it’s slowing, and also what’s going on in Europe and Europe could possibly be entering another recession. But the even in a very globalized economy, which we are in the US is still 70%, more than 70% of GDP is consumer base. So it’s the US consumer really, that drives our economy. And we only depend on 14% of GDP is is due to exports. So in fact, there is a decoupling that has gone on as well, there is a fear that the rest of the world is going to drag down the US. And again, because our economy is so strong, and because our economy is so insulated with the consumer being the primary driver of the US economy, that in fact we will not be affected as much as one would have thought and that’s another tremendous positive that we can be an independently strong economy, regardless of some problems that are going on in other parts of the world.
Jason Hartman 15:57
Okay, so what you’re saying is that when you talk about decoupling, because so many people is recently is just a few years ago, we’re talking about the decoupling of China from the US as if that would hurt us. And now you just see how the tables have just totally turned it’s, it’s really an amazing thing, you know, and they were talking about how, you know, China’s not going to buy our bonds. They have great reasons for all of that. Okay, I would not blame China for a moment. But the fact is, we are their customer. And they are dependent on us. Just intrinsically. And now, you know, I think this kind of trade is good, because it will lessen the chances of war and you know, people aren’t going to drop bombs on their own customers, hopefully, and their own vendors. Now, the decoupling the thought is that it’s the other direction. China has not so far, even though globalization, as the experts say, has lifted maybe 275 to 300 million people out of poverty. That’s great, but they’re still not making the median household income in the US which is about $52,000 a year I believe they cannot create As their own consumer base, they just they’re just a long way away from them.
Unknown 17:03
Yes, they are. And one of the problems that China has had is it, it has two kinds of bubbles going on. It’s got an investment bubble and a credit bubble. We have gone through a very painful period of restructuring. our financial system as you know, in the banks are still suffering from that and but they’re stronger their capital basis stronger than it’s been in decades. And and China is over invested in overbilled in Overland and so now it’s going to have to go through its own restructuring period, and it’s going to be very painful. And it’s going to mean that their growth is going to slow and that means, of course, that their personal incomes going to slow. So again, they’re on a slower growth track, even though they’re growing faster than we are, you know, six and a half 7% GDP growth versus our two and a half, three, three and a half possibly next year. But we have a much much bigger economy in a month. healthier economy. And, and so and they’re starting from a much smaller base. So the tables have turned they really have and it’s to the benefit of the US.
Jason Hartman 18:10
Yeah. Well, that’s a good point too. When you start from a smaller base, you know, it’s easy to have big numbers. Absolutely. It’s, you know, it’s much harder to get a giant corporation, which is really all the country is, is just like a big company or, or a giant ship to turn Okay, and to make surprising gains, and they have to grow faster because of the size, their population and the threat of civil unrest with the Communist Party. So they are very, very concerned about that over there. So and you know, rightfully so. But the other thing you didn’t mention about China, the other bubble that I believe they have is a major demographic bubble coming their way. Populations depend on an influx of young people, either through birth or immigration. And I don’t mean young people’s children I mean, young workers who are healthy and Hardy and You know, willing to work hard. Granted, we can, we can bemoan Gen Y all day long. Okay. But that’s kind of another discussion, who are going to work and advance themselves and make their way in the world. And they’re going to start spending and forming families as they do that and buying things and buying houses and upgrading their lifestyle all the way along. And in China, you look down the road 1015 years, and there is a gaping hole coming at them.
Unknown 19:24
Exactly. And the demographic problem is that one child policy, which basically meant that there are many more men than there are women, which is just terrible how that happened. Not good. And and now that Chinese leadership is awakened to the fact that that has occurred, but you’re absolutely right. There’s an entire generation of Chinese men that can’t find wives and set up those families that you just described that are so critical to the health and the growth of an economy. That is a that’s a big problem for them. That’s looming. There’s no question about it.
Jason Hartman 20:00
Yeah, absolutely.
Unknown 20:01
Okay, so other parts of the American Renaissance, if you will, energy, I mean, right into manufacturing the energy but and one of the things I know that you specialize in real estate. And there’s a multiplier effect with these energy jobs in the manufacturing jobs is that for every manufacturing job or energy job that’s created, they create three to four more jobs at least. And we’re seeing just a resurgence and a revitalization of community by community. Because what it means is that they need services and they need homes and they need schools, they increase the tax base. So there is an incredible multiplier effect that’s going on with this manufacturing energy Renaissance as well. That it is slow and Daniel Azhar from Cornerstone macro said, it’s slow but slow is good, because it’s sustainable. So it’s going to be we’re going to see this kind of multiplier effect in communities all over the country, especially in the Midwest. But if you’re very positive, creating better paying jobs and actually creating employment in manufacturing for the first time in 30 years, we’re actually seeing sustained employment increases in manufacturing.
Jason Hartman 21:14
You know, one of my favorite authors is Chris Anderson, who was who has Wired Magazine. And he’s written I think, three books. And his last one is entitled makers. And he talks about 3d printing, and how that will start on ensuring manufacturing back to the US. And I think he makes a pretty good argument for it. Of course, this won’t be mass manufacturing. You know, 3d printers aren’t likely to be building iPhones anytime soon. But you know, Apple did move the iPad manufacturing back or at least they’re in the process of it, I guess, when a Chinese worker gets paid pennies on the dollar versus American worker for any company to actually bring that manufacturing back here. First, I think oh, it’s gotta just be a pail of political thing, you know, gesture of goodwill or something. If not,
Unknown 21:59
no They’re coming back here because it’s very competitive and and the ease of doing business I think that there is a list on try remember it’s some one of the world organizations does a, an ease of doing business list every year and in the US is ranked number four for the ease of doing business by a whole bunch of criteria. And and China is ranked number 79. So you’re
Jason Hartman 22:24
wondering what one two and three are, as you remember,
Unknown 22:26
I don’t it’s probably one of the Scandinavian countries but I’m probably Singapore knows. I think Singapore is number one. But they’re they’re small countries. And we’re talking about We are the definitely the the top ranked largest country by far.
Jason Hartman 22:43
Yeah, that’s interesting. And I would agree with you, you know, my friends that do business in China, you know, I’ve got one friend that builds hotels there another who’s in manufacturing there and, and they say it’s, of course every culture has their own customs and their own way, but they do complain about the difficulties of doing business there. That’s an interesting point to 3d printing. I mean, that could really bring a lot of this small mass customized manufacturing back to the US. I think that’s a pretty exciting part of the trend. And what you didn’t mention when you were talking about energy prices declining. I tell you, I make a big deal out of this. It’s the self driving car. Now, I think that could dramatically save on fuel costs, and just do all sorts of things for reduced fuel consumption. I mean, because of the efficiency of self driving cars, and that, you know, it’s like a computer network that just works efficiently. Ultimately, we’re, you know, in 10 years, that’s gonna be pretty prevalent.
Unknown 23:39
Well, I completely agree with you. I just actually had a very interesting conversation with Tom gardener who’s one of the cofounders of the Motley Fool about the fact that we’re going to see a lot of software that’s that is being developed and largely most of it being developed in the US, which is one of the points that you made earlier as far as the ads damages that we have in creativity and entrepreneurship and technology. We are still the country that is the most creative and innovative and foreign workers come here, because they recognize that, that that it’s much it’s a very fertile creative place to work. But we were talking about all of the different industries that are going to be automated, including the financial services industry. That’s, and certainly the self driving cars, even though I love to drive and would have a hard time giving up the wheel. But that is definitely in our future. And it’s, that’s another game changer in the 3d 3d manufacturing is just incredible. We’re trying to figure out how to invest in it. And it’s it’s such a new industry on that it’s difficult to pick winners, but I think it’s just going to be huge. I do too. It really is.
Jason Hartman 24:49
Okay, so what else? Are there any other components of this Renaissance that you see? And geographically you think the Midwest will be the biggest beneficiary? It sounds like the emerging country of the Midwest? Right? Yeah. Like I said,
Unknown 25:01
and what was so cute is that it was our again, no, I keep quoting her because she really is the one who coined the phrase, my, you know, my favorite emerging market is, is the Midwest is for Michigan, Flint, Michigan initially and she said, what’s happening in the rust belt and again, it’s because they have, they have the infrastructure, they have old factories that can be restored, they have the transportation hubs, the rails and the, the road systems that trucks can come in and out of, and they’ve got the, you know, the energy supply that for these and the wiring for these factories. So that’s why that’s a you know, such a, that’s that’s the place kind of where this started is starting in the course, we’ve got the energy Renaissance that happened is happening in North Dakota, especially, it’s also happening in Texas. So there are, you know, those are the areas where we’re finding these new, the new energy supplies and I just actually Looked JSON. And it was it’s the World Bank that ranks countries every year and their ease of doing business. And it’s based on qualities like the ease of starting a business, obtaining credit and construction permits, getting electricity, registering property taxes, investor protections, and contract enforcement. And the US is number four, and China is ranked and I got the China ranking long, it’s lower than what I thought it was. China is actually ranked number 96. So the US has tremendous advantages in that respect as well.
Jason Hartman 26:29
Just anything else you’d like people to know what else you’re working on. I know you had, you know, maybe one or two other things that you were really excited about and really engaged in now.
Unknown 26:38
Right? Well, you You are the real estate expert. I am not but one of the things that I think is intriguing on WealthTrack and many of our guests who are basically the best in the business as far as being investors and with proven track records and long term track records of success and, and also financial thought leaders. One of the main themes that we have on WealthTrack. And that they do too is how important it is to be well diversified in your investments. And real estate is a very important part of one’s investment portfolio. And most of us own our own homes and that’s a so so we have a domestic real estate portfolio as that’s right there right off the bat and it’s probably one of our if not our largest investment, but where most of us don’t have any exposure is in foreign real estate and everyone is basically going global if they’re investing in bonds if you’re investing in stocks. International stocks are an important part of everyone’s portfolio and international real estate is too because real estate is it is an aspiration around the world. Everyone wants to own a piece of property and it’s the world population is growing and yes, China I would not I would not buy real estate in China because I quite honestly I don’t trust the Chinese Chinese government and the protections that they afford but there are other areas in in Asia where real estate investing you can their contracts are honored and there is a legal system and there are protections of her private property. So that’s one of the the kind of the fun ideas is when you ask anyone how much foreign real estate you own. Everyone always says zero. And actually, foreign real estate investment trusts or whatever run by reputable firms can probably be a good portfolio diversifier. So that’s one of the ideas that has come up on WealthTrack several times.
Jason Hartman 28:38
You know, Consuelo, I have another show in our, in our my little mini media empire here that I it’s called the jetsetter show. The tagline is exploring lifestyle friendly destinations worldwide. I’ve been very fascinated by foreign real estate investment opportunities for many years I’ve been to 73 countries now just returned from Peru, my 73rd You know, I’m always looking It deals in these markets. And I gotta tell you, I just don’t see it the good old us, but I, you know, the infrastructure, the rule of law, the fact that we have a multiple listing service, that is a huge deal other countries don’t have, we can really understand values here. In other countries, you don’t know. I mean, everything is just so fragmented.
Unknown 29:19
I would agree with you completely as far as residential real estate, I think commercial real estate and again, I would only go with with a firm that has a tremendous amount of experience in commercial, foreign real estate. And there, there are such people and there are search firms. But I agree with you as far as if you’re talking about residential real estate, I think that’s a whole other ballgame. And I would never get involved either because you never know what the rules are and what insider deals there are and how the community is going to treat you and I completely agree with you there. Right? Yeah,
Jason Hartman 29:56
yeah, no question about it. And the other thing I found is that the infrastructure In terms of the mortgage markets, you know, there’s so much more mature in the United States and, and really real estate has been subsidized by the government since the Great Depression here. So, you know, if you’re mad about government handouts and and you don’t like Obama and so forth, then go and get your own handout and invest in us real estate. It’s it’s basically subsidized.
Unknown 30:19
Yeah, totally. I agree with you there. I really do. And I and I would defer to you and your expertise in real estate because it’s not my expertise by any means.
Jason Hartman 30:28
But I think it was Will Rogers, who said though, you know, buy land, they’re not making any more. So there’s something to be said for that no matter where it is. I would agree with you. Well, if you have time, you know, just anything else. You’re really engaged in my website.
Unknown 30:42
I just think that the One other area that is very hot right now on wall on Wall Street is something called turn ative investments and real and alternative investments mean that their investments that basically are non correlated with the stock market and therefore if the stock market goes up, they tend to go down or be flat. When the stock market goes down, they tend to hold their value or go up. And of course, traditional alternative investments are things like gold, which is an insurance policy against extreme outcomes, as we call it. That and probably that everyone should own a little tiny bit off. And there’s a great ETF an exchange traded fund, called GLD is a symbol for gold, and that’s probably it owns bullion, and that’s probably a good little insurance policy that can be in a tiny portion of everyone’s portfolio. But the alternative investment space is becoming very hot. A lot of Wall Street firms are introducing mutual funds. They’re called liquid alternatives because you, obviously you can trade them in a mutual fund, whereas on the hedge fund, they’re not transparent. You there are very onerous restrictions as to when you invest in them and when you can get out of them. They’re only for wealthy individuals or institutions where these Liquid alternative investments are mutual funds that are better hedge funds but in a mutual fund form. And I guess I would just caution there, they’re, they’re interesting. And after the financial crisis, they generated a lot of interest because people portfolios that were stocks centric, suffered greatly. And so everyone was looking for a way to diversify, but I would just be there interesting to look at, they’re interested in to talk to these alternative investments and the mutual funds about with your financial advisors, but I would be leery of many of them because a lot of them are run by people who have not run alternative investment portfolios, hedge funds before and they tend to have high fees as well. So it’s a hot area but it’s one that I would approach with some caution.
Jason Hartman 32:46
That’s good good advice. Let caution be the word on Wall Street always and in light dusting in anything. Be cautious because as they say, a fool and his money are soon parted right? So don’t be good. Well, Consuelo, give out your website, if you would and tell people where they can learn more about you.
Unknown 33:03
Oh, sure. It’s it is www.wealthtrack.com. And we have, you know, our the interviews, all the interviews that we’ve done over the last 10 years, we’re now on our 10th year on public television. And we tend to interview guests that do not appear on other television programs rarely do interviews. And we are very careful about who we have on and we vet them. They’ve got to be the best in the business and respected by their peers and have terrific track records and have integrity, we have to like them. So it’s wealthtrack.com is a good resource for long term investors. And that’s what we’re trying to do is build wealth over the long term. Excellent point.
Jason Hartman 33:43
Yeah. I love your work. Keep up the good work. And thank you so much for joining us today.
Unknown 33:48
Thank you, Jason YouTube, take care.
Announcer 33:52
I’ve never really thought of Jason is subversive, but I just found out that’s what Wall Street considers him to be.
Announcer 34:00
Really now How is that possible at all?
Announcer 34:02
Simple. Wall Street believes that real estate investors are dangerous to their schemes? Because the dirty truth about income property is that it actually works in real life.
Announcer 34:12
I know I mean, how many people do you know not including insiders who created wealth with stocks, bonds and mutual funds? those options are for people who only want to pretend they’re getting ahead.
Announcer 34:24
Stocks and other non direct traded assets are a losing game for most people. The typical scenario is you make a little you lose a little and spin your wheels for decades.
Announcer 34:35
That’s because the corporate crooks running the stock and bond investing game will always see to it that they win. This means unless you’re one of them, you will not win.
Announcer 34:45
And unluckily for wall street. Jason has a unique ability to make the everyday person understand investing the way it should be. He shows them a world where anything less than a 26% annual return is disappointed
Announcer 35:00
Yep, and that’s why Jason offers a one book set on creating wealth that comes with 20 digital download audios. He shows us how we can be excited about these scary times and exploit the incredible opportunities this present economy has afforded us.
Announcer 35:14
We can pick local markets, untouched by the economic downturn, exploited packaged commodities investing, and achieve exceptional returns safely and securely.
Announcer 35:25
I like how he teaches you how to protect the equity in your home before it disappears and how to outsource your debt obligations to the government.
Announcer 35:33
And this set of advanced strategies for wealth creation is being offered for only $197.
Announcer 35:40
To get you’re creating wealth encyclopedia book one complete with over 20 hours of audio, go to Jason hartman.com forward slash store. If you want to be able to sit back and collect checks every month, just like a banker. Jason’s creating wealth encyclopedia series is for you.
Announcer 36:09
This show is produced by the Hartman media company All rights reserved for distribution or publication rights and media interviews, please visit www dot Hartman media.com or email media at Hartman media.com. Nothing on this show should be considered specific personal or professional advice. Please consult an appropriate tax legal real estate or business professional for individualized advice. opinions of guests are their own and the host is acting on behalf of Empowered Investor, LLC. exclusively.
Jason Hartman 47:55
Thank you for joining us for flashback Friday. We’ll talk to you next week. brand new episode.