Description

Household debt has hit a record high of $12.8 Trillion! This is the highest we have seen since the financial crisis bottomed in 2009. 30 day credit card delinquencies are on the rise standing at 6.2%. One year ago that same figure was 5.1%! 90 day credit card delinquencies are on the rise and this is a sign that the average consumer is being squeezed. The cracks in the very faulty U.S. economy are beginning to appear and this is not the recovery most people think that’s taking place. $51 Billion worth of auto loans last quarter went to people with a credit score under 660. (this is considered subprime) Folks, crap is about to hit the proverbial fan and understanding what’s coming next puts you leap years ahead of everyone else out there. Stay tuned.

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Meet the hosts

I farm and work on a feedlot just outside of Billings, MT. My dad and I will feed up to 8,000 head of cattle every year at the feedlot. As of September 20th I launched a podcast on iTunes where I talk about the current issues of the day. My mantra is defending the free market and making the moral case for capitalism! My show is weekly and is available on iTunes, Stitcher and your web browser.

discussions

  • I shied away from using debt for a long time… I feel that I’m missing some opportunity by doing it, though. I think the turnaround in gold and silver is right around the corner, and I want to buy more physical. I’d rather not use all of my saved cash, as I like to have that ready to spring on opportunities in the stock market. What are your thoughts on using a 0%APR credit card (which would also give cash back bonuses and points for a large purchase) to buy some silver coins? Best, James

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  • History shows that control of the individual is achieved through the factors of production: labor, land, capital control through labor = slavery control through land = feudalism control through capital = the debt system Government is not necessary to control individuals through the factors of production. It is only necessary to own the factor of production. A study of history reveals multiple examples of this control. Are there any examples when this control of the individual through the factors of production has not existed?

    Jump to Discussion Post 2 replies
  • If the system collapses because of all the debt & money printing, and my bank fails, what happens to my mortgage that I have with that bank? Assuming that I can maintain payment of my debts throughout, would that mean that I will be debt free upon their collapse? If someone else buys that banks assets, will my mortgage still be payable? Can they call in my debt and ask for full settlement?

    Jump to Discussion Post 6 replies
  • I find discussion of philosophy to the exclusion of practical ideas frustrating. I’m into practical, bite-sized ideas to bring about liberty on a personal scale. I don’t see enough of that in the liberty community. So rather than stand around and bitch about it, I figured I’d go ahead and start a discussion for practical, DIY, bite sized ideas that most of us can implement. I’d like to try this structure assuming you’re amenable. First, describe the bite sized idea. Then describe briefly how it contributes to liberty on a personal or general level, and finally tell is if you’ve done it and how it worked out? Or the WHAT the WHY and FEEDBACK. I’ll start with a couple so you can see what I have in mind: The idea: Open carry of handguns in those areas where legal. How it contributes to liberty: on a personal level, carrying a firearm drives out the fear. Most of the reason why we have police or other inefficient, centrally managed security arrangements is that people (reasonably) have a fear of street crime or violence. By carrying openly, you drive down the fear factor for yourself and others. In addition, it prevents unnecessary violent confrontations with predators. Feedback: I open carry frequently. Some of the issues of concern I frequently hear from folks who don’t OC is that you will be hassled, people will be frightened, etc. My personal experience has been quite different. Most people don’t notice. Interactions with police are infrequent and I have yet to have a problem with them. Property owners don’t care for the most part. The idea: raise bees. How it contributes to liberty: increased self sufficiency, is one of the few types of livestock that can be raised in an urban area, can be concealed fairly easily in case of busybodies, provides honey and bees for barter or income. They will also cause your garden to go hog wild. Feedback: I have more beehives than I intended. I got into it for the honey, but I just plain like bees. The honey is really, really good. Unlike the slop you tend to get at the supermarket.

    Jump to Discussion Post 57 replies