In this episode, Jason Hartman answers questions about income property, diversification, and how to invest capital gains. Afterward, he talks to Jeffrey Lord about politics. Jeffrey shares that people may be looking for a candidate similar to Ronald Reagan, like Donald Trump. Like Ronald Reagan, Trump talks in generalities and not in specifics because it is their job to lead and not be the experts. He also mentions that Trump would put businessmen in government positions, re-orient foreign policy towards national interests, and use the American military when needed to serve the American public’s best interests. He ends by sharing his thoughts about Obama and Bernie Sanders.
This show is produced by the Hartman media company. For more information and links to all our great podcasts, visit Hartman media.com.
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 and been 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 on now. here’s your host, Jason Hartman with the complete solution. For real estate investors,
Jason Hartman 1:02
Welcome to the creating wealth show. This is your host Jason Hartman episode number 644 644. And after this episode, we’re gonna get off of this political stuff for a while. I know it’s an election year, everybody’s talking about politics. What a bunch of characters we have in this election. I mean, give me a break. How many have we ever had this many debates in history? I mean, it seems like there’s a debate every night the Republicans, the democrats bore me. Well, I guess it’s actually not that boring in a way because these people are such characters. I mean, here you got Trump, who’s a strange dude, to say the least. He’s a strange he’s a strange biscuit. And especially in light of what’s been going on lately, and then you got all those other Republicans who are having trouble getting any press. Now. My guy would be Rand Paul, Rand Paul. But of course Nobody that sensible and sort of, well, kind of boring would ever get elected in this country because we go for pop culture stuff, right pop culture. That’s what we’re into in America, not saying you and I are into that, but as a population, look at what’s famous, right? The Kardashians are probably more famous than any of our political candidates for sure. And it should not be that way. It should be the other way around. And then on the Democratic side, you got the criminal in the communist Of course, the criminal being Hillary, and the communists being Bernie. Someone posted a picture of Bernie riding coach class on probably I couldn’t tell what airline he was on, but what kind of like a Southwest jet and he was just sitting there with a hoi polloi.
You know, all of us commoners, and I thought that was kind of cool, actually. But Bernie, Bernie, you just know nothing about economics and how markets work. God forbid you would be President. I mean, you would really mess things up. And the funny thing about Bernie as they say, Good old Bernie, he’s a legit guy, you know, he would do a couple good things he he’d shut down, hopefully the prison industrial complex, I think that’s a bad thing. You can’t have it be profitable to hurt people kill them through the military industrial complex, or have it be profitable to imprison them and take away their freedom through the prison industrial complex. Of course, that’s the privatized prison industrial complex. And you know, when I first heard about that idea of privatizing the prisons, I think it was in the 90s. I thought that’s a good idea, because private enterprise can do everything better than the government.
Jason Hartman 3:37
And you know what? I think that’s true. Except there are those few infrastructure-related things that I don’t want private enterprise involved in and one of them is prisons. I don’t think it should be profitable to imprison people. Because that that’s a very scary idea. We’ve got these these groups that our client Cathy enlightened me today Kathy, you’re probably listening when we had breakfast in Austin that morning, when you were on the Austin property tour, and we had like this two hour breakfast, because you’re so darn interesting to talk to. You told me about how these private prison companies hire lobbyists to lobby for stronger, more draconian, more ridiculous laws, so that they can increase their occupancy rate and lower their vacancy rate. Just like any good old landlord, except when you’re running a prison, you get to charge premium rent, to mostly the government. That’s who pays you right? So anyway, that’s a whole disgusting system. Bernie probably would put an end to that. I don’t know what good old Trump he would do. There’s a lot of things but yeah, Bernie has no frickin clue about economics or motivations or how markets work. And it’s funny that some of the other candidates like they criticize on the Republican side, not Trump. That’s the one thing Trump’s pretty clean on. they criticize some of the others. Republicans and those Republicans have days gone by to have they’re in the pocket of the corporatocracy, big business. What do you think Bernie’s in the pocket of big unions, big labor unions, and they’re totally corrupt, right? So everybody’s all got their thing. So whatever.
Anyway, I look at folks, after this guest on this episode, we’re not going to talk about this political stuff for a while, because I’m kind of bored with it. You probably are, too. Maybe you are. Maybe you aren’t, I don’t know. I want to talk more about real estate investing. And I want to talk about making our lives better. So we will get to that in some future episodes. I’m going to take some listener questions, then we’re going to go to our guest, Jeffrey, Lord, and listen to this. Some of you might hate this guest. We’ll see what America needs the case for Trump. He’s a CNN commentator, and writer for the American spectator former aide to good old Ronnie the gipper. Ronald Reagan, of course, Nancy passed away recently. What a cool loves Story Ron and Nancy had, you know, criticize them if you like, but they seemed like they had a pretty good love story. I would sure like to have that kind of love story myself someday.
All right. So listener questions. Let’s get back to that. Bunch of you registered for our Salt Lake City event and we’re looking forward to seeing you there on Saturday. It’s coming along great. It’s going to be an awesome event. Jay Ah, you live Jason Hartman University live. And when you registered, you asked some questions so let’s take some more of those this time.
I’m so this one comes from this one comes from Steven Steven. Okay. I’m selling a condo that can’t be rented due to an HOA homeowners association rental cap. Another reason I don’t like condos. Okay. Another reason I don’t like condos for sure. Too many restrictions. Those draconian homeowners associations are like the privatized prisons a lobbying government for stricter laws, okay, I have truly lucked out with appreciation over three years. So I’m able to clear 50 to 70,000 from the sale, the most available liquid liquid capital I’ve ever had, hey, congratulations are ever held. How much investment property can or should I invest with that money? How do I buy more after the cash is gone? How do I grow a larger portfolio based solely on this initial investment? proceeds will eliminate credit card debt. My FICO score is currently 742 Wow, nice FICO score there, by the way, I do not own the home in which I currently live. Thanks. Okay, so good question there, Steven and your Sara’s client. So let’s take these one at a time. First of all, congrats on the appreciation you made that nice icing on the cake. And your first question there is how much can or should I buy? Well, you can buy about two or three good properties. Without money, and you might consider if you have more. It sounds like from your question, you have actually more proceeds than that. But you’re using some of them to pay down credit card debt. Now listen, I’m no fan of consumer debt. I don’t have any consumer debt. The only debt I have is on my properties in terms of my mortgages. And I love that long term, high quality, low cost, fixed rate, investment grade debt. But, you know, if you’ve got somewhat reasonable credit card debt, that’s not too expensive, because some of these credit cards aren’t terrible on their rates. Some of them incentivize people to switch and give you low rates for interim period for a couple of years. You might want to consider and this is a stretch maybe not. But and I’m saying this because your FICO score is so high otherwise I would not say this at all. Okay. You might want to consider if you can finance it. credit card debt at a fairly cheap rate, you might want to consider actually keeping it a little longer. And using some additional money to get into a third or fourth property rather than two or three properties, because that inflation induced that destruction that will eventually occur, the leveraged ROI, the tax benefits, all of the other multi dimensional characteristics of a fantastic real estate investment might be and probably will be more powerful than the cost of that credit card debt. So you’re arbitrage in it. But that, again, depends on the investment you can buy and the opportunity cost of not buying it, because you paid off the credit card debt. I’m not saying you should do this. I’m saying it’s something do look at consider and on which to work out the math.
Okay. Second question is how do I grow a larger portfolio based on solely the initial investment? Well, you’ve got to wait little while and let that investment grow, and maybe follow my refi till you die plan and get that going for you, okay? or save up some more money outside of your real estate investments and buy more properties that way and build your portfolio. And how do I buy more homes after all, all the caches gone? Well, you either don’t buy them, okay? Or you wait for these to appreciate and give you some nice return. And you buy them with those proceeds, or you buy them more creatively. And that implies that you have a lot of time to chase down deals, because the creative stuff like wholesaling, creative financing, finding that don’t want our seller and trying to buy properties with little or no money down. It’s very hard to do. It is certainly possible, but it’s just really hard and time consuming. Those things are for people who don’t have a business or a day job. Okay. Hope that answers your question.
Paul has the next question. Paul says, some people have rental properties held in an LLC for tax purposes. Is this advantageous for everyone? Well, first of all, I would question that assumption. I don’t know that they have properties held in LLC for tax purposes. Because the vast majority of the time, that LLC it’s just a pass through. Many people elect to treat their LLC like an S corp, an S Corp. And or they have it as a disregarded entity. So there’s really no tax implication. And then sometimes in some structures, the LLC s can actually cost you more in taxes. So I don’t know of any particular strategy that people are using with LLC, although it could be done if you get real creative and you have multiple entities. You know, you never say never okay? Because things certainly can be done when you get really creative. But generally speaking, it’s not for tax benefits, it’s for asset protection. And using the LLCs make things a lot more complicated. Be careful of the lawyer trying to sell you a bunch of entities, because not only do they make the money on selling you the entity, but they also get to be usually your registered agent. And they get to do your corporate maintenance every year. I just switched all of my corporate maintenance and Registered Agent stuff over to Garrett Sutton. And wow, price went down a whole bunch. So he had a great special and, and made me deal because I’ve got so many entities for the following years. So I was quite pleased with that. But still, it’s going to cost you extra money, your tax prep is going to get more expensive, your insurance may get more expensive. So you know just consider this stuff carefully before you do it. All. I think most people overdo it on the entity stuff.
Okay, our next question comes from Ruth. Now Ruth is a wonderful old client of mine. And guess what I sold one of her properties so long ago. I don’t even want to tell you what year it was. It was in Irvine, California and Ruth I remember the address because it was 444 Deerfield in Irvine, California. And you had a plan A and Winwood townhomes. And when I was a very young, traditional real estate agent way back when I sold your property and you were such a lovely client to work with that we’ve known each other for many, many years. So here is Ruth’s question. She says, Is it good to invest in property in Riverside? And there were some kind of messed up symbols there that occasionally happens on the internet. I don’t know why I did that. But I’m going to try and decode your message here. I think you said something about the rent to value ratio but some funny Characters slipped in here, even if it is a good deal at $199,000 for a two bedroom, one bath, newly remodeled home. Well, you know, Ruth, that does sound like a pretty good deal even for Riverside in California, which I would not normally recommend as a place to invest. But that does not sound like too bad a deal. It’s actually better than I thought. So the first couple questions I have for you are number one, is that a single family detached home? It probably sounds like it might be a townhouse or a condo, I would shy away from those number one and number two question on this property is what is the rent on that property? I will bet you it will not rent for $2,000 per month for a two bedroom, one bath probably condo or townhome in Riverside, California. So I’m guessing that this property will only rent for about 1400 hundred dollars per month. That’s just a guess that would make it not a very good deal, because it doesn’t have the 1% rent to value ratio. Okay. Thank you, Ruth, for that question. And great to hear from you.
And the next one is just a comment from Brittany says, Why do you want to invest in real estate because I want to retire at age 32. And this is the best way possible. Okay. There we go. Brent asked another question. Well, nope, that one’s just a comment. He answers all my questions on the podcast. Okay. Well, I’m glad of that.
So here, we’ll do one more question. And this is from Samir. And Samir asks, How fast should you buy properties to become diversified? Should you buy several properties in one area, and then move on to the next, or is there another way to do that? Good question. So I can’t really answer that question, Samir, without knowing how many properties you’re buying for Israel. sample. If you’re buying six properties in in the very short timeframe here, then what I would do is I would buy two properties in each of three different markets. So for example, you might buy two in Memphis, two in Indianapolis, and you might buy two in Atlanta. That’s just an example. I’m not saying those are the right markets to buy and talk with your investment counselor about your time horizon, your risk tolerance and your investment goals. Of course, that’s what we help you do.
Jason Hartman 16:31
But I would generally buy two in one market, and then I buy two in another market, and then two in a third market on the sixth property example. Now, if you’re going to buy 60 properties, okay, I would start diversifying right away. And I would, I would look for maybe five in one market, five and another in five and a third. Okay. And then I would start building from there and try it out. Add on 15 properties in each of those markets. And if you’re buying a large number of properties like 60, in my example, I went from six to 60. You know, Grant Cardone the 10 x rule, right? I just multiplied by 10. If you’re doing that, then you might diversify into four or five markets. Okay. Remember, the rule of diversification is at least three markets, but not more than five markets, generally speaking. All right. So there are some questions. We’ve got some more we’ll save those for the next episode. Let’s get political folks. Okay. I hope you don’t hate this interview for those of you Trump haters. But we’ll see what he has to say. And I also want you to know, our next venture Alliance trip is coming up.
Jason Hartman 17:51
And you know, I think that’s going to be Should I just spill the beans now? Hey, Coco. gotta ask my assistant here. Coco. What do you think? Should we tell them? Coco Hartman, that’s my dog. And by the way, she’s coming to Salt Lake City. So you’ll meet her there if you haven’t met her yet. She will be our house dog at JHU live in Salt Lake City this weekend. I’m gonna keep it in suspense. Let’s not tell him yet. Okay, Coco, we’ll keep it secret. So we have another venture Alliance trip coming up. And if you are interested in joining a high level, real estate and business mastermind group, go to venture Alliance mastermind calm and check that out you can also come as a guest. For those of you coming on Saturday we will look forward to seeing you in Salt Lake City for Jay Chou live. I also want to recommend our product that many of you have been buying our online course at Hartman university.com. That’s Hartman university.com. And that is our last produced meet the Masters event online in audio and video format. Yeah, so check that out. Let’s go to our guest, Jeffrey Lord, and let’s talk some politics. And again, we’re gonna lay off the political stuff for a while after this and just strictly focus on income property, the most historically proven asset class in the entire world.
It’s my pleasure to welcome Jeffrey Lord to the show. He is a CNN contributor, and contributing editor to the American spectator, former aide to jack kemp and Ronald Reagan, former White House associate political director, and author of the new book what America needs the case for Trump. Welcome, Jeff. How are you?
Jeffrey Lord 19:40
I’m great, Jason, thanks for having me.
Jason Hartman 19:42
It’s good to have you on and I gotta tell you, it would seem that you’re taking I mean, the the way the media mostly controlled by the left, the way they would portray it, you’re taking on a maybe an unpopular angle here. I mean, aren’t these Trump supporters a bunch of racist and xenophobia anti people Isn’t Trump a big buffoon? An idiot? I mean, you know, that’s the way the media portrays him all the time.
Jeffrey Lord 20:06
Yeah. You know, if you listen to these people, that is exactly what they have to say. This is one of the reasons why I wrote the book because I felt that Trump supporters, all these thousands of people who are showing up to these rallies all across the country, were being wildly mis portrayed, and they’re being portrayed exactly what you said is a bunch of racist bigots, xenophobic nuts, and, and Trump is, you know, a buffoon and all the rest of it, when in fact, I think he’s a very smart guy, a very serious guy, a very competent guy. And I think his supporters are hardworking people who are just concerned about their country. They feel it’s going in the wrong direction, and they’re determined passionately, so to do something to write the ship of state. So hence, I wrote this to sort of make the case for Donald Trump and make the case for them in a sense,
Jason Hartman 20:57
One of my liberal friends I mean, the liberal The left is supposed to be so tolerant. They don’t seem very tolerant of Trump supporters. It’s It’s interesting. I mean, in their eyes, these people seem to be just evil. I mean, wow, you know, it’s something else.
Jeffrey Lord 21:12
Right? Well, any American left I have to say is historically not very tolerant. I mean, they, the whole tolerance bit is really more like totalitarianism. 101 You know, we want to tolerate you but you will do it our way or else and you can see this throughout You know, one of the things they do repeatedly is divide people by race, you know, you got to be the skin color, that skin color, etc. They’ve long ago abandoned Martin Luther King and JFK and Bobby Kennedy and colorblind America. And it’s it’s too bad but that is what they do here. And they’re doing it here with with Donald Trump when he talks about illegal immigration. He’s talking about illegal immigration. Here is a guy who is married to an immigrant The son of an immigrant, the grandson of immigrants, he’s hardly against immigration.
Jason Hartman 22:05
But he’s a white immigrant so that that’s not really an immigrant is it?
Jeffrey Lord 22:10
Yeah. Right. I mean, that’s the way they want to make this seat is that as I frequently point out on CNN, 100% of the population of America, you, me and everyone we know, are descended from immigrants. Someone in our family along the line came here from somewhere else. And for that matter, even the quote unquote Native Americans came from Asia originally. So
Jason Hartman 22:34
Yeah, we’re or everybody came from the cradle of civilization in the Middle East.
Jeffrey Lord 22:38
Right. Exactly. I mean, however, you want however you want to say it so. Americans are hardly anti-immigrant. What they are opposed to is illegal immigration, jumping the border, bringing crime into America, doing all sorts of things that I cite in the book The case of Jamil Shaw, Jr. 17-year-old African American star student, an athlete who was being looked at by Stanford and Rutgers, and he’s his mother is was serving in Iraq. And he comes home in Los Angeles. And he’s a few doors, a few steps from his door. And a car pulls up with a bunch of gangsters in it from, you know, illegal immigrant kids. And one kid gets out. He’d been released from prison the day before, managed to get a gun and the day that he was out, and also told his parole officer that his life’s ambition was to be on death row. And he goes up to a Jamil Shah when we didn’t know and kills him, shoots him dead right there on the street. And the parents, of course, heartbroken. Mrs. Shaw says that, that she felt that she couldn’t discuss this, that she was made to feel that because he was shot by shot and killed by an illegal immigrant that this is unacceptable in polite company to discuss and they are supporting Donald Trump as a result.
Jason Hartman 24:05
It’s unbelievable. It really is. I mean, the political correctness is, it’s really evil. Frankly, I think it’s a total suppression of speech. You look at the radical Muslim attack in San Bernardino, California a couple of months ago, and you know, those that neighbors that witnessed them, wanted to report them, but they were they silenced themselves, they self-censored, because they were afraid that they would be viewed as racist. You know, I’ll give you just before you even comment on that. Let me just give you a little interesting context that I think will help the conversation here about Trump. just literally yesterday, on Facebook, one of my liberal friends, Danny, and I were talking, you know, someone posted a picture of Trump and Pailin. And you know, I just commented the two-party system as a scam. Democrats and Republicans are basically status on either side New World Order. Blah, blah, blah. You know, there’s a possibility Trump is an exception to this because I don’t really know. I mean, at least he’s an outsider, thank God. And and I’m not sure I’m a supporter of his by any means. I just want to make that clear. I don’t know. I mean, you know, listen, if you if I had my choice, I’d have Rand Paul, but that’s not gonna happen. Okay. So here’s what Danny says. He says, agree with the first statement strongly disagree with a second he talking about Trump is an absolute joke, Jason, an absolute joke. I can’t believe I’m even having a discussion. To be honest. We’re talking about the Donald, you’re fired Trump as a serious candidate for the American presidency. It’s truly unreal. I talk to people on the far right in the middle, and on the left. I doubt he really talks to any of those except on the left. Okay. I mean, I’m probably his only, I guess he can call me right. I’m really just a libertarian person that he probably even knows and they are in utter shock. He says But this man is being considered as a candidate for this election blows my mind. He says, Oh, well, he’s only dividing his base. So I’m not worried, shocked that anyone with half a brain would even take him remotely serious, but not worried. In other words, he’s not worried that he would win, you know, so it’s just unbelievable.
Jeffrey Lord 26:24
Well, the kind of sanction there. I mean, this is sort of typical thing when, I mean, think about this for a second. I’m sure this guy is a big Obama supporter.
Jason Hartman 26:32
Yeah, he’s nice. And he’s 25 years old. He’s 25 years old, with lots of lots of opinions and little experience, you know, so there.
Jeffrey Lord 26:40
Yeah, yeah, a community organizer, a state senator and half a term in the United States Senate and he was qualified to be president.
Jason Hartman 26:48
Well, yeah, you’re talking about Obama now.
Jeffrey Lord 26:50
Obama, yeah, versus somebody who built this enormous global organization, which demonstrates a whole range of skills, business skills, people skills, a temperament. Persistence discipline is a very accomplished human being here. So I just, you know, I listen to this kind of thing, and I think these people are, are deluded. And you know, frankly, I talked about ronald reagan often in context with Donald Trump. They’re not the same personality. They’re, they’re different. No two people are alike. But when ronald reagan ran for president, they said, Well, he’s an actor, and a B movie actor at that. And he’s a he’s a joke. He’s a clown, he can’t be elected, you shouldn’t run you shouldn’t be president, all of this kind of thing. And of course, we have a very different impression. Most Americans have ronald reagan today. And they elected him twice in a landslide. So I don’t worry about that kind of thing. Because I think you know, the results will out here as we move along.
Jason Hartman 27:53
Yeah, it’s just unbelievable. I mean, I I can’t believe the the Just the dismissive nature. I mean, they did it with Sarah Palin too, she ran the the biggest energy producing state in the country. It was there was like 22%, or something of the energy economy in the country. I mean, but she’s just an idiot now. Now she was she was she was a female. And you know, but if you’re a conservative female, God forbid, oh, you’re evil, you know,
Jeffrey Lord 28:23
Well, this is what they do. And and, frankly, this this has been going on for decades. I think the person they first did this to was a young congressman named Richard Nixon, who earned their enmity by going after successfully, Alger Hiss, who was the sort of fair haired boy of the Eastern establishment. You know, we’d been to all the right schools and he was for a good bend to Harvard Law School, among other things. He was the State Department employee for Franklin Roosevelt and Harry Truman. He was also Alas, a communist spy. And and they didn’t want to believe it, and Nixon proved it. And the guy you know what finally went to jail? But they’ve hated Nixon since day one about that and portrayed Nixon as you know, an ignoramus and a bigot, and I mean, all these terrible things. So then through the years, I mean, just sort of pick one whether it was Spiro Agnew or dan quayle. Or, you know, Gerald Ford was a great unifier until he actually became president that he was a bumbling fool. We this is this is what they do with these people. And, you know, it’s just a sort of an endless parade and I’m used to it and Donald Trump is just but the latest here.
Jason Hartman 29:30
Yeah, it’s, it’s, it’s really something else. But you’re right. Those are interesting points you make about Trump. I mean, what he’s accomplished, it’s, it’s pretty amazing. And you didn’t mention that he’s authored a whole bunch of books. I mean, he’s built this brand. I mean, look, personally, I think Trump’s Trump’s kind of a noxious he’s, I don’t know, I don’t like him. But that doesn’t mean he’s, he’s a guy who can actually run something. Obama’s never run anything in his life. I mean, it was interesting that When Obama, you know, in his first term was President, I mean, no matter what room as many people said, this didn’t come from me, but in any room he ever walked into, he was the least experienced person in that room. You know, meeting all his aides had vastly more experience than he did. Yet the left loved him, for he has no resume. I mean, it’s insane. It’s unbelievable.
Jeffrey Lord 30:23
I guarantee you if Barack Obama had everything going for him that he did actually have going for him. And yet he were conservatives that have pilloried him.
Jason Hartman 30:33
Oh, of course they would. Yeah, it’s just it’s just so illogical. And there’s just no critical thinking skills whatsoever. No, that’s right. It’s totally emotion driven. And it’s like, it’s childish to. It’s like the elementary school yard at recess. You know, nanny nanny nanny. It’s just this like, really based thing. I mean, you can’t Have a debate without, you know hearing Oh, it’s all george bush’s fault. It’s always a character attack because they can never stay on point with issues. It’s mind boggling. I can’t, I can’t but how are how is it that you’re a CNN contributor? I mean, CNN is full of the people we’re talking about.
Jeffrey Lord 31:18
Well, people ask me this. I know firsthand from Jeff Zucker, who was the president of CNN, that they wanted somebody who, the fact that I worked for ronald reagan that I was a bonafide conservative. And then I was supporting Donald Trump. They, they found this an interesting combination. And I think, to be perfectly candid, at least as I understand the story, Donald Trump himself suggested me. They came to me and you know, I did it for about two or three weeks, and then they came and offered me a job. So that’s fine and I have to say they’ve been terrific. They never sensory, I got to say, you know, speak my piece. They’ve been extremely fair to me. They’ve been they’ve been terrific.
Jason Hartman 32:06
They probably realize he’s getting all the ratings and it’s not them. So maybe they need to change their tune a little bit and get more and more in step with things.
Jeffrey Lord 32:15
Well, he does bring in ratings. I mean, when he participated in the CNN debate, they had an audience of 22 out in California, that first one for CNN, and an audience of 22 million people, which was, I believe, the largest audience in the history of the network.
Jason Hartman 32:30
Yeah, yes. That’s not what I was referring to. I was referring to the overall decline of CNN versus Fox News, for example.
Jeffrey Lord 32:37
Oh, right. Well, I think they’re, they’re, you know, they’re competitive. And, you know, they’ve got people like me on there. I think they’re trying to, you know, right, the ship a little bit.
Jason Hartman 32:46
Right. Yeah, absolutely. Well, that’s smart on their part for sure. So tell us more about the type of people these Trump supporters are I mean, are they are they really these? Xenophobic racist people that the media portrays them to me.
Jeffrey Lord 33:01
No, no, of course not. I mean, I’ve talked to a lot of these people and, you know, they have a job, they have a mortgage. They have kids, they have health care concerns, their average Americans here, they participate in their communities. They’re responsible people. What they like about Donald Trump is that he gets things done, and that they do like the fact that he is politically incorrect. When when he says, you know, A, B or C that says the establishment running for you know, they’re there. I don’t know what to sort of revive themselves. These people think this is terrific. I mean, his numbers go up. And every time the media dumps on and they go up some more. You know, the American people are pretty savvy out there in the world of media. They understand how this game works. And they know that there have been people over in the past, that when they get attacked, savaged by the media. They sort of turned tail and, you know, basically apologize and go on. Trump doesn’t do any of that. And I think that that’s one of the endearing
Jason Hartman 34:09
Oh, it’s refreshing that this guy doesn’t. He doesn’t do what Bill Clinton did, and licks his finger sticks it up in the wind to see which way the wind is blowing. That’s not leadership, folks. leadership has having an internal frame. And of course, listening to you know, constituency, obviously, but you got to have some internal frame that actually makes you something, you know, not that you’re just a you just governed by polls. I mean, it’s just crazy.
Jeffrey Lord 34:38
That’s right. I mean, I think one of the things that people like is that he does, you know, he has vision and and wants to go in a certain direction. And one of the things that always amuses me, I hear people say, Oh, well, where are all the specifics? And by the way, I put some specifics in the book here, so that people can see exactly what he’s talking about when it comes to immigration or taxes. And that’s the thing But what amuses me is they they don’t recall as I do that this was precisely the same criticism of Ronald Reagan, that he talked in generalities, and he didn’t have specifics. What in fact was going on was Reagan and Donald Trump both excellent communicators in age of mass media, no matter what you have to do is deliver your message, you know, a core message, forget all the details, you can hire plenty of people that will advise you on all the details and we’ll know that better than you ever will. What you’re going to get paid for as a chief executive as President, the United States in this case, is your judgment is your is your understanding of the world around you and your principles and your judgment. That’s what you get paid for. And, you know, this this criticism that Trump, you know, doesn’t have detailed knowledge of this data. The other thing or you didn’t know the nuclear triad, oh, my goodness when Ronald Reagan was president and had been president for four years at one time diplomatic correspondence wrote a book called his name is stroke Talbot, who is a friend of Bill Clinton and later in the clinton State Department wrote a quote a whole book called deadly gambits, in which it’s about Reagan’s Arms Control Policy and dealings with the Soviets. And of course, he pronounced Reagan’s policies a total failure, and spent a great time informing everyone that Reagan didn’t know what the words like throw weight meant, and he didn’t know this term. He didn’t know that term, and he didn’t know the intricacies of everything.
Jason Hartman 36:27
Unbelievable. Okay, so let’s let’s compare that to Barack Obama and, and none other than Bernie Sanders. A man who probably actually means well, I kind of almost trust him in a way, but I don’t trust I trust his integrity. I don’t trust his competence one bit. I mean, he knows nothing about the way markets work. He has no concept of economy All he does is state what the problems are. He you know, and I admit their problems. I actually agree with him on the problems but if he thinks He’s going to solve it by, you know, making a bunch of new regulations and send business running for the hills. he’s a he’s a moron. He’s a child. He has no concept of. I mean, it’s it’s just mind boggling that adults actually fall for this idiotic clamor. It’s nonsensical. They don’t know how businesses work, how marketplaces work. There’s a hilarious petition floating around on social media that says, petition to get Bernie Sanders to read even one book on economics.
Jeffrey Lord 37:35
Good luck. Yeah, I know. Well, I mean, this is the problem with the left in general, and they keep coming back to the same old thing that they’re just gonna they’re just gonna, you know, the government should take over this other thing and regulated etc. I mean, this is what gave rise finally to Ronald Reagan. This is what gave rise over in Britain to Margaret Thatcher. And, of course, they did pretty fabulous jobs. And both of those positions his president united states and Prime Minister of Great Britain. And they brought their countries out of a, you know, a real serious slump that had been imposed by people just like Bernie Sanders, except Bernie Sanders is even more so than somebody like Jimmy Carter, or the Labour government over there in Britain in the 1970s, and 60s and 50s, and all that sort of thing. So, it is it is startling, particularly because they never, they never learned from this. I mean, you would think that after all these failures, you would you would learn and here we are almost now $19 trillion in debt. And, you know, Social Security I heard today is supposed to run out of money in 13 years, that these things, you know, as Margaret Thatcher used to say, sooner or later the problem with social investment sooner or later you run out of other people’s money.
Jason Hartman 38:53
That’s a great quote at shirtsy I love that quote says problem with socialism as sooner or later you’re run out of other people’s money. That is the thing. It’s a totally oppressive force. And it is amazing to me as you say, that they they keep wanting to try the experiment. I mean, whether it be it’s it’s just a matter of degree here, you know, between socialism and communism. I had bill airs on my show, interestingly, and actually, I got it, I got to give the guy credit for two things. Number one, he said no questions are off limits. I politely asked him before the interview, and I was impressed with that. And he was a great interview. And he described himself as a communist with a small C. So let me see. He and his cronies are in favor of the system of government that is responsible for the deaths of almost 200 million people in the last century. I mean, quite literally, that’s how many people died under communism or socialism. Remember, the the Nazis were the National Socialists, okay. Everybody seems to forget that.
Jeffrey Lord 39:57
That is correct. Jason Bravo. I always have to explain this to people.
Jason Hartman 40:02
It’s amazing that they think like I remember someone on Facebook once was saying, oh, Republicans are a bunch of Nazis and well, that’s the complete opposite of you. You have no concept of what you’re talking about.
Jeffrey Lord 40:14
That is correct. It’s amazing. It just it just it just baffles me. Another one that I like is the GOP is like the Ku Klux Klan and I have reminded people over the years, that the coop underneath those hoods, they were all progressive Democrats. And, you know, once upon a time, and it was 1924. They, they were in such control of the party, that the nominating convention in 1924. For the Democrats. It was held in Madison Square Garden in New York, which was called the clan bang.
Jason Hartman 40:44
Oh my gosh, that’s amazing. So tell us more about that. I didn’t know about the KKK, his affiliation with the democrats so much.
Jeffrey Lord 40:50
Oh, absolutely. Absolutely. Eric Foner, who’s a historian at Columbia University, said that they were the military arm of the devil. kradic party, and that’s what they were created for. And another historian University, North Carolina referred to them as the terrorist arm of the Democratic Party. They they supplied the muscle, if you will, to keep African Americans in the day and also Jews and Catholics in line. And these people were elected to office, all across the country all across the south in particular, they were elected to local office, State Office federal office, in our in our lifetime. We remember robert byrd, who was originally a ku klux Klansmen, but there were plenty of others. Franklin Roosevelt put Hugo black, who was a longtime senator from Alabama, on the Supreme Court. And it came out, of course, that Hugo black had a lifetime passport golden passport as they called it to the Ku Klux triund. And very sad on the court making all these decisions, some of them which were you know, incredibly controversial. When we first started, he wrote the opinion that in turned that full Japanese American citizens IE people of a different color out of their homes and into internment camps during World War Two, and he wrote the opinion,
Jason Hartman 42:14
But the left would say that’s what Trump wants to do to Muslims.
Jeffrey Lord 42:17
Yeah, well, of course, that is not true. And what I find fascinating here, and I’ve written about this, and liked it with without having anything to do with Trump, the whole tournament thing was terrible, you know, was racist and unconstitutional, etc. But I wanted to know what else FDR had done. here when this whole Muslim controversy came up with Donald Trump when I went and looked and sure enough, the day after the very day after Pearl Harbor, he signed three presidential proclamations. One for Germans, one for Japanese one for Italians in America, who were going through the naturalization process, he suspended their naturalization process on the spot. They had to register with the government. They couldn’t leave They couldn’t go more than five miles from their home. If they had a job six miles away, they lost the job. They couldn’t buy flashlights, they couldn’t buy shortwave radios. I mean, there’s a whole long list of things here. And, you know, in essence, Franklin Roosevelt was Donald Trump on steroids.
Jason Hartman 43:16
Yeah. So what we’re what you’re really saying his Trump is a liberal. And by the way, as funny as that may sound to some, there’s a case for that. I mean, he was a big Hillary Clinton supporter, you know, for he’s given lots of money to leftist politicians over the years. And he and he’s like a New York liberal type, you know, I mean, in a lot of ways,
Jeffrey Lord 43:35
Yeah. My answer to this is, is that you know, the making the rounds in Iowa at the moment is a video of Donald Trump on meet the press from 1999, which is about 17 years ago, in which he’s talking like a New York liberal and all this and people are all agog. And I said, Well, you know, 17 years before ronald reagan ran for governor of California, and I found this broadcast and recording that was made Have a radio broadcast he gave endorsing Harry Truman for president and Hubert Humphrey for the US Senate. And you read it and he sounds like Bernie Sanders. He’s going after the Standard Oil Company, aka big oil, as we call it. Now, today. He’s saying that, you know, corporations are evil. I mean, it truly is remarkable. And, of course, over the course of those following years, he changed his mind. So, you know, I always am willing to give space here to people who do change their minds. I mean, I don’t know that he’s the conservative that ronald reagan ism, in some sense, but I think he is a conservative. I mean, he certainly says he is. Sarah Palin is there for him. You know, I think most importantly of all, he is decidedly not Mr. establishment, as somebody who could easily have been one state one and been very comfortable with that fact. And he reminds me I often I often refer to him as Eddie Murphy character in Beverly Hills Cop. And if you’re familiar with the movie, Eddie Murphy, you know as a Detroit cop looking for a bad guy who’s murdered his friend and goes to Beverly Hills and the suspect is a very elite art dealer.
Jason Hartman 45:18
Oh, I remember that was such a funny scene, you know.
Jeffrey Lord 45:20
Right. And he goes, he goes into the guy’s club to confront him and it’s called the hero club. And he gets in a fight with the guys henchmen there and they knock over the buffet table and of course at Murphy’s are taken out of the police headquarters, and the sort of snooty police chief comes in and looks at him all over and says to his officers, is this the man who wrecked the buffet at the Herald club? And, and Donald Trump is in essence, the guy who’s wrecking the buffet at the Herald club.
Jason Hartman 45:47
Yeah, interesting. Very interesting. Well, I mean, what do you think’s gonna happen like, you think you’ll get the nomination?
Jeffrey Lord 45:54
I think it’s entirely possible. You know, there’s a poll out.
Jason Hartman 45:58
I mean, he’s, he’s pissed off a lot of people in the party.
Jeffrey Lord 46:00
Oh, yeah, yeah.
Jason Hartman 46:02
He’s an outsider.
Jeffrey Lord 46:03
That is right. There is a CNN poll out today that shows him ahead of Ted Cruz in Iowa by 11 points. Now, the sort of the sort of caveat to all of this is that highlight is, of course, a caucus state. And it’s not just you know, as it is in primary states where these polls, you know, might indicate something and all people have to do is show up in in line for a few minutes, flip the switch and leave. In Iowa, you got to show up, I think it’s on a Monday night, and you’ve got to sit there for three hours or so and go through this long tedious process in somebody’s living room or a neighborhood barber shop or wherever the meeting is. And you know, keep you know hanging in there for your candidate Donald Trump in this case, that takes organization. Now, the question for all of these candidates is how well organized are they can they get their people out? But no matter what happens and I what it has not turned out to be over the years Extremely predictive ronald reagan lost the Iowa caucus in 1980, and went on to win the nomination in the White House. Mike Huckabee and Rick Santorum both won the Iowa caucus in 2008 in 2012, and never went anywhere. john mccain came in fifth, I think, in 2000, and then went on to win the New Hampshire primary, and sort of battle it out with George become the main contender against George W. So it’s not terribly predictive, but it’ll certainly we’ll get a lot of headlines here, as we as we move on, but if he if Donald Trump wins that and then went to New Hampshire, in South Carolina, I think, you know, almost immediately becomes very hard for anybody else to, you know, abandon.
Jason Hartman 47:44
And I mean, you gotta give him credit for one other thing. He is like a master of his campaign. He he’s, he hasn’t raised much money at all really hasn’t tried much. He’s basically done it all on the media’s dime. He’s gotten this publicity for free. It’s amazing.
Jeffrey Lord 48:02
He said, he said that he, I believe he said that he thought, by this point he would have spent about $22 million was I guess the budget they had for meeting and all this.
Jason Hartman 48:13
Yeah. What he spent? About a million two?
Jeffrey Lord 48:14
And yeah, yeah, it’s not a million bucks is all
Jason Hartman 48:17
Unbelievable. That’s insane. Incredible.
Jeffrey Lord 48:18
I can tell you working for CNN, you know, I go into the evenings to do commentary with either anderson cooper or, or erin burnett shows innocence eight and Aaron is at seven, and more than frequently, and this happened just the other night with the Sarah Palin event. More than frequently we’re sitting there together, watching a live Donald Trump appearance to see what he says and then comment what he says. But they’re, they’re carrying it, you know, live and, you know, and that’s because people want to see you know, they’ve, they want to see what he’s going to say
Jason Hartman 48:56
They sure do. Just a couple of things before we wrap up here on some some actual substantive issues. And you know what a Trump presidency might look like? I think the we’ve got the left all clamoring for higher minimum wages, which will simply be passed through to the customers and caused inflationary pressure due to economics one on one, Bernie Sanders. Okay, I guess you didn’t take that class. But so, if Trump actually is the first president to get control of our borders, I think you’ll just naturally see wages rise, you’ll see much better trade agreements. I mean, you hear people post on social media, my friend, Bill post this stuff about how other countries don’t like Trump, and all this kind of stuff, some quote from New Zealand or Australia or something like that. But if you think about it, well, yeah, he’s a tough negotiator. He’s gonna give us a good deal. Unlike the other sellouts we’ve had in the White House.
Jeffrey Lord 49:55
I mean, he you know, he’s not a he’s a free market guy. He is not a protectionist by Stretch. But what what he is, is he will,
Jason Hartman 50:02
But there’s a difference between protectionism and getting a good deal.
Jeffrey Lord 50:06
That’s right and when I would hear him talk about this, I went back and took a look at the the kind of people that had been appointed us trade ambassadors. And I just give you one example that Obama’s first one was a guy by the name of Ron Kirk. And what was his experience? He’d been mayor of Dallas. he’d run for the US Senate, and last, and then he became a lobbyist. Now, what Trump’s point is, these are just political people that really have no idea what they’re doing. And he saying if it were up to him, he would put people like Carl Icahn, it needs to know Carl Icahn would be awesome, right, right. I mean, these are people who really know what they’re doing when it comes to this kind of thing. And Trump himself knows what he’s doing. So I think that’s a you know, a really good point here. He may also makes the point which sort of causes me to smile again. His daughter is friends with Caroline Kennedy. And he says she’s a very nice person. But why in the world? Is she the ambassador to Japan?
Jason Hartman 51:07
Right? What does she have to do with anything? Exactly? I know. No more dynasties in the US no more Kennedy’s Clintons are Bush’s exact like, that’s not what the US is about at all. We shouldn’t have any more dynasty type people ever. No, God, no, Hillary, please.
Jeffrey Lord 51:23
I you know, I think that is that is a driving force here, which is causing both Jeb Bush and Hillary Clinton problems. I’ll tell you a quick story, where I have an apple laptop, and you know, I had a problem with it. And I had to call and, you know, get get it dealt with. And the guy who was dealing with sounded very young. And, you know, he’s asked me the technical questions. So then he says, Well, what are you doing? I’m telling him and all this. He says, oh, he says, Well, he says, I’ll say this before I get back to you on the laptop. He says, Yeah, I don’t care what else happens but if we have a Clinton versus Bush, she says, I’m just gonna kind of go crazy.
Jason Hartman 51:58
I know, it’s unbelievable. Yeah. too, that’s just it’s just disgusting at any level. But what else do you think a Trump presidency might look like? I certainly think America would start getting some cutting itself some good trade deals. And I think jobs would come back to the US. I think that the borders would be controlled, you wouldn’t have Uber cheap labor are competing for American jobs. And you know, I don’t know why the left who’s so in favor of increases in minimum wage wouldn’t be in favor of controlling the borders. That’s just insane. To me, it makes no sense whatsoever. What else would it look like? Or what are your thoughts on what I said either either one.
Jeffrey Lord 52:34
I think the economy would be better instantly. I mean, I think that’s, that’s very important. I think in terms of national security policy. I think he’d go after ISIS with a vengeance. I mean, no more fooling around with this. I mean, when you hear these stories with, well, we’re not supposed to bomb a B or C targets, because it’s bad for the environment. I just, I just don’t think he would go there. You know, I think he would Want to get after these people and be very aggressive about it? And, and and do it in? I mean, he is not one to tolerate this kind of this kind of nonsense. So I think that that would be an improvement in a more major sense. I in terms of foreign policy, I think he might reorient foreign foreign policy so that we’re not necessarily, you know, jumping into every conflict around the globe. But we’re pursuing our own national interests and being selective about where we go, but when we go somewhere, do it and do it right. And it’s to me that was Ronald Ronald Reagan’s approach as well. If you recall, he he had sent troops as part of American troops, American Marines to Beirut as part of a peacekeeping situation with the French and of course, a terrorist drove into the barracks and killed when he was 243. Marines. And and Reagan said afterwards said in his memoirs that he he regretted it instantly and he have a pulled him out, finally pulled out all the rest of them. And, and wrote down these set of principles which are, which are very close to what Trump is saying that, you know, if you’re going to do something, go do it. But don’t go running around the world to do it. You know.
Jason Hartman 54:19
Yeah. And that’s good point, you know? Well, certainly Obama did. You know, he doesn’t have any shred of decisiveness and you know. He’s, he’s a weak sort of empty suit kind of President as we,
Jeffrey Lord 54:31
I mean, the business of his weak, his weekend. I mean, that’s the problem here is that the perception, the perception is out there that there is this enormous weakness and so, you know, we mean this tempts, you know, attempts all the bad guys out there.
Jason Hartman 54:46
Yeah. Well, you know, that’s an interesting point. Let’s talk about the foreign policy thing for just a quick second here. It actually and I am the last person to be in favor of war and the military industrial complex, the things that everybody on the left accuses republicans of being in favor of Okay, I’m not in favor of those things. And I’m fairly liberal social way really, I just believe in freedom. Okay. So knowing that there’s actually an economy that comes with having a tough guy in office, because it’s like saying nuclear weapons have prevented more deaths than probably anything else. There would have been a lot more conventional warfare if we didn’t have the threat of you know, mass destruction through nukes. So that preventative element of having a hard ass on the White House basically, is economical. I mean, it worked with Reagan and the Soviets.
Jeffrey Lord 55:41
That’s right. Peace through strength.
Jason Hartman 55:43
Yeah, exactly. It’s not going to be peace through weakness. You know.
Jeffrey Lord 55:46
I, you know, I brought that I I’ve gone back and dipped into Blender now to the decline and fall of the Roman Empire. And I found references to exactly that, that the Romans believed that as long as they had Superior military strength and displayed it that they would not be challenged and that is the way it works most of the time and you know you can go right on through to George Washington who believe the same thing and then on to move on to Ronald Reagan. It’s It’s It’s a paradox perhaps to some but that is what what works. When you are doing it the Obama way you are tempting fate. I mean, the world is a mess.
Jason Hartman 56:24
All of the diplomacy that he claimed, you know, we’re gonna talk to Iran. We’re gonna be diplomatic. Everybody in the Middle East is gonna love us. They hate us more than ever. You could argue that Iran nuke deal, which I think is going to ultimately turn into a disaster of course.
Jeffrey Lord 56:37
Yeah, exactly. I was just thinking and that is exactly the point here. I you know, when I listened to john kerry the other day saying, you know, the world is safer. I mean, all I could think of is Neville Chamberlain. You know, I brought peace in our time. Right?
Jason Hartman 56:50
It’s It’s my it’s really it’s really amazing how truth has left the building.
Jeffrey Lord 56:55
That is so correct. That is so correct, but I think it’s having to come back here. So that’s a good thing.
Jason Hartman 57:02
Well, hopefully, hopefully it is hopefully it is, hey, give out your website, tell people where they can find the book. Anything else you want to say?
Jeffrey Lord 57:08
They can they can find it at Amazon and Barnes and Noble online, they can find it in the bookstores. They can go to the Regnery publishing Regnery calm the publisher, they’ve got a website and you can buy it, I think directly from there. So I hope they go out and give it a look and think about it because I think he’s Donald Trump has really made a major impression on people. And I think we’re going to be hearing from him a lot this year.
Jason Hartman 57:35
Very interesting. Well, Jeffrey, Lord, thank you so much for joining us.
Jeffrey Lord 57:39
I appreciate it. Thanks for having me, Jason.
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