CW 888 - Modern Monetary Theory (MMT), The IRS & Fed with Mike Norman

09/27/17 • 43 min

Creating Wealth Real Estate Investing with Jason Hartman

Jason welcomes Economist Mike Norman to the show to discuss Modern Monetary Theory or MMT. Mike shares examples of common misconceptions people have of the US monetary system and economy, such as the US debt clock, that inflation equals growth and how the tax system works. He believes that the US has an unlimited supply of capital and balancing the budget or functioning as a fixed monetary system would accomplish the opposite of what is needed to create growth. And, Jason announces the winner of the Amazon Echo raffle.

Key Takeaways:

[01:27] Paige Glenview is the winner of the Amazon Echo raffle.

[04:10] SkyNews clip about giving women permission to drive in Saudi Arabia.

[06:21] Meet the Masters and ADVenture Alliance event information.

Mike Norman Guest Interview:

[09:40] Modern Monetary Theory (MMT) explains the value of money.

[12:39] A tax system is required to create demand for money.

[17:31] A fixed monetary system creates cycles of economic depressions and recessions.

[19:53] The US national debt is a summation of what is owned by the US and its constituents.

[27:25] A dollar must be created and pumped into the economy before it can be used to pay a tax debt.

[29:46] The US has an unlimited amount of new capital.

[35:13] There is a difference between inflation and growth.

Mentioned in This Episode:

Jason Hartman

Meet the Masters of Income Property Event

Venture Alliance Mastermind

Michael Norman on Youtube

Key Takeaways:

[01:27] Paige Glenview is the winner of the Amazon Echo raffle.

[04:10] SkyNews clip about giving women permission to drive in Saudi Arabia.

[06:21] Meet the Masters and ADVenture Alliance event information.

Mike Norman Guest Interview:

[09:40] Modern Monetary Theory (MMT) explains the value of money.

[12:39] A tax system is required to create demand for money.

[17:31] A fixed monetary system creates cycles of economic depressions and recessions.

[19:53] The US national debt is a summation of what is owned by the US and its constituents.

[27:25] A dollar must be created and pumped into the economy before it can be used to pay a tax debt.

[29:46] The US has an unlimited amount of new capital.

[35:13] There is a difference between inflation and growth.

Mentioned in This Episode:

Jason Hartman

Meet the Masters of Income Property Event

Venture Alliance Mastermind

Michael Norman on Youtube

Previous Episode

CW 887 - Inflation: The Best Business Plan For Governments and Central Banks — Never Bet Against The Fed, Jason LIVE

The US is facing a looming financial crisis. In this episode, Jason outlines six business plans the government can use to ease its inflationary pressures. Four of the plans could result in negative outcomes, while the final two plans could achieve debt repayment by way of inflation. Understanding inflation and all of its aspects are not for the light-hearted. Jason explains inflation, how the government reports on inflation and offers up some educational resources for those who want to know more.

Key Takeaways:

[04:35] Technology is changing the game in all aspects of life.

[11:15] Meet the Master's of Income Property Event is a 3-day event in January 2018.

[14:15] Jason identifies 6 ways to deal with inflationary pressures.

[21:17] Using inflation as a tool to avoid paying debts.

[27:39] Understanding the difference between real and nominal and price and value.

[33:49] Redistributing wealth through inflation.

[40:11] The three ways the government manipulates inflation statistics.

Mentioned in This Episode:

Jason Hartman

Be Your Bank

The Longevity and Biohacking Show

Property Tracker

Real Estate Tools

Short-Term Rental Council

Amazon Echo Contest Entry

Confessions of an Economic Hitman by John Perkins

Next Episode

CW 889 FBF - Price Brackets for A, B, & C Class Properties with Jason Hartman and Investment Counselor Sara.mp3

Originally aired on CW 512.

Jason invites his top investment counselor, Sara, to the show. Jason and Sara share their thoughts on the Memphis market and what potential investors might expect. Sara also lists the importance of having the right mindset when investing in a C property and Jason gives a break down on the price ranges of A, B, and C class properties on the show.