22 Burst results for "Steve Forbes"

Steve Forbes Breaks Down the Value and the Benefits of Gold

Dennis Prager Podcasts

01:16 min | 3 months ago

Steve Forbes Breaks Down the Value and the Benefits of Gold

"I have never understood which may be a reflection on me. I acknowledge that, but I have never understood the argument for getting off the gold standard. I would love to know from you who I think it's clear to say you thought it was a bad decision, why was the decision made and how does one defend it? Well, first, they gold standard is the way in which you keep the value of a currency like the dollar stable. Gold for a variety of reasons keeps its intrinsic value better than anything else on this earth. Not perfect, but better than anything else. And so it's like a yardstick or a scale or a clock, which measures time. Money measures value. And when you attach it to gold, you ensure that it says a stable value. And people today, especially economists, don't know or overlook that we were on an old standard for a 180 years from the 1790s when Alexander Hamilton put us on it to the early 1970s

Alexander Hamilton
Are All Reagan Presidential Foundation Board Members Reaganites?

Mark Levin

02:07 min | 4 months ago

Are All Reagan Presidential Foundation Board Members Reaganites?

"It looks like mostly the board Of the Reagan foundation Which I feel a very close affinity to our Friends and surrogates and confidants of the chairman Fred Ryan to make sure he has no challenges And your little fare early on he was staff assistant at the pregnant president Reagan in the office of presidential advance Where of course he would have met his friend Fred Ryan Just giving you some examples Let's see here We have John lonsdale cofounder managing partner 8 VC a U.S. based venture capital firm which manages $4 billion Something is strange here mister producer Why all these individuals these investors these finance guys there aren't many reaganites on the Reagan border directors ladies and gentlemen and McLaughlin core locus is Steve Forbes is Then you have Susan McCall businesswoman former diplomat and philanthropist She served as the U.S. ambassador to the republic of Austria under whom And is currently president of S and R capital investments We have Rupert Murdoch and Lachlan Murdoch those are two reaganites Peggy noonan really a reaganite name only Ted Olson used to be an old buddy of mine but he's crossed the railroad tracks Gerald parsky chairman of aurora capital Jim Patterson chairman chief executive officer for sole owner of the Patterson group Canada's third largest privately held company I know that was here oregano

Fred Ryan Reagan Foundation John Lonsdale President Reagan Susan Mccall VC Steve Forbes U.S. Lachlan Murdoch Republic Of Austria Mclaughlin Reagan Rupert Murdoch Peggy Noonan Gerald Parsky Ted Olson Aurora Capital Jim Patterson Patterson Group Canada
"steve forbes" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

02:58 min | 11 months ago

"steve forbes" Discussed on Steve Forbes: What's Ahead

"Where you get the insights you need to better navigate. These turbulent times helping people to save more for retirement is a popular idea congress these days unfortunately the tax writing committee in the house of representatives is pushing a proposal that would do more harm than good on the surface. The idea sounds great. It would force just about all private entities with five or more employees to offer an automatic contribution. Ira or 401k. Type of retirement plan if they don't have such plans already. These entities don't comply. They'll be hit with big penalties. Workers would have to kick in six percent of their pay to such a plan and that's six percent would scale up one percent each year to reach a top of ten percent. Moreover those contributions would not be tax deductible participants would have a limited menu of investment choices or they could go into a state run plan plan providers would have to be approved by the irs and so would the range of fees employs with existing. Plans would have to add a life. Annuity distribution option trouble with many annuities as all the fees. They honeycomb in such products certain lobbyists earned their retainers here. The problems are substantial with us idea. I they would impose costly administrative expenses and small businesses most of which make little money second along the same lines the operating challenges of adding as many as fifty six million new and mostly very small accounts by the end of next year when the law goes into effect pension expert. Mark quest show ski athlete. Observes that fifty six million is quote an astounding number compared to the current sixty one million. Ir hey olders. Today and quote third. Most lower income workers will drop out because they need their earnings today to pay their bills. They can't afford what would be a six to ten percent cut in their pay finally with the government now so intimately involved. Politics will be in evermore increasing role in what pension plans can invest in. This has been a real problem with state pension. Funds in places like california. There are two practical ways to eight. Lower income. Wage earners with their retirement. Social security replaces a little over half of what they've been making during their working years since congress has been in a big spending mood why not make a special appropriation of social security to boost that level longer term. Congress should allow younger workers to have a chunk of their overall current payroll taxes. Go to their own personal retirement accounts that would have appropriate safeguards. These people would end up with far greater benefits overall than i'll ever get with the current system. I'm steve forbes. Thanks for listening. Do send in your comments and suggestions. I look forward to being with you soon again..

Mark quest house of representatives congress irs california Congress steve forbes
"steve forbes" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

03:08 min | 11 months ago

"steve forbes" Discussed on Steve Forbes: What's Ahead

"Can government sees your house your car and your cash. Even if you've done nothing wrong. The shocking answer is yes and it happens more than we think. Hello i'm steve forbes. And this is what's ahead. We get the insights you need to better navigate. These turbulent times there is a pernicious procedure called civil asset forfeiture that allows law enforcement to confiscate. And keep your property without due process. That is take say your money even if you haven't been charged much less convicted of a crime that's right. No charges have to be filed. Officers can just declare. They suspect the property in was used in the commission of a crime or is obtained illegally. They don't have to prove their suspicions to seize it then incredibly you must prove the property is clean recovering the assets that were seized from you is laborious and expensive. The typical amount of money taken us under two thousand dollars in many cases just a few hundred dollars the expense of recovering it often exceeds. What was seized real property like a car houses often sold at auction. It all adds up. However in the past twenty years the value of property and cash that has been confiscated by civil asset forfeitures tolls over sixty eight billion dollars a number of state and local law enforcement agencies count on proceeds from civil asset forfeitures to buttress their budgets. You can easily see how perverse incentive is for abuses the institute for justice a nonprofit organization that provides legal help to victims of civil liberty injustices one cases in federal court against albuquerque and philadelphia for that kind of law enforcement wrongdoing. The institute has been battling civil asset forfeiture abuses for years. It has issued a report on the subject called policing for profit. One example among all too many last february stephen lara. An ex marine was driving texas to visit his daughters in california when he was pulled over by police for allegedly improperly passing truck. He let officers searches car. He had his lifetime savings in a backpack. The cop seized it. Even though he had bank receipts for the withdrawals they found no drugs and never charged him with the crime only when he went to the washington post with the story was the money returned to get back. Your money or car or house can be made even more complicated by practice whereby local officers. Turn the seize assets over to the federal government which will then handle all the paperwork and give the local department. A certain percentage of the value of what was given. in other words a kickback. This process has been grossly abused and should be promptly without qualification. Ruled absolutely unconstitutional as soon as appropriate case reaches the supreme court. I'm steve forbes. Thanks for listening to send your comments and suggestions look forward to being with you soon again..

steve forbes stephen lara institute for justice albuquerque philadelphia texas washington post california federal government supreme court
"steve forbes" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

02:59 min | 11 months ago

"steve forbes" Discussed on Steve Forbes: What's Ahead

"Hello i'm steve forbes. And this is what's ahead. Where you get the insights you need to better navigate. These turbulent times in twenty twenty two thousand four hundred. Us government healthcare school networks. Were shut down by ransomware attacks. A three hundred eleven percent increase over the previous year that downtime average twenty one days but full recovery took two hundred and eighty seven days and these do not include the many assaults on private companies earlier this year. We are all vividly. Reminded of the danger of these hacks who've what happened with the colonial pipeline which supplies forty five percent of the gas for the east coast not to mention a beef infrastructure and the serious breaches revealed last december of solar winds. Accompany that provides critical. It software to numerous large companies and government agencies president biden promised full retaliatory measures with future attacks unfortunately russia china iran and north korea are not impressed. A cyber attacks continue. Obviously there are a number of defensive measures that must be taken at both the private and government levels starting with more information sharing but one thing we must do rather than just talk about. It is to go on offense. We must do more to respond to these attacks. Washington should undertake offensive and preemptive cyber attacks. We have the capabilities to do. So such moves would remind these rogues that their activities are not cost-free. A handful of such costly attacks would put our enemies in a frame of mind to adapt an actually adhere to agreements to cease such activities. Russia for instance is heavily dependent on the revenues. It gets from its large. Oil and gas operations. Any kind of disruption of its pipelines would get instant tension in the kremlin. These bad actors would how let them but they would soon realize that a betting cyber attacks is now a no win game for them. Diplomacy would then bear real fruit. The biden administration doesn't get fully grasp that diplomacy not backed up with credible strength is ultimately futile. Congress could do its part by immediately passing the cyber diplomacy act which among other steps would established in the state department bureau of international cyberspace policy to push cybersecurity internet access and freedom and stopping international cyber threats. Our allies in french would gladly cooperate with a credible approach. Here knowing there's real muscle to back up efforts to establish meaningful international rules of the road regarding the internet. I'm steve forbes. Thank you for listening to send your comments and suggestions. And i look forward to being with you soon.

steve forbes russia east coast biden north korea biden administration iran china Us Washington Congress
"steve forbes" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

03:06 min | 1 year ago

"steve forbes" Discussed on Steve Forbes: What's Ahead

"There's a law enacted more than one hundred years ago that is costing our economy over one hundred billion dollars a year in los growth and making gasoline unnecessarily expensive. It's time to sink it. hello. I'm steve forbes. And this is what's ahead. We get the insights you need to better navigate. This turbulent world back in nineteen twenty congress passed the protectionist jones act which stipulated that any cargo transported between two american. Ports must be carried in ships. That are american building owned and crewed by americans trouble is. Us made big ships. These days costs more than four times. The vessels made by foreign competitors. The result of the jones act is significantly higher costs for consumers and businesses. The law has distorted shipping patterns all across north america. It particularly hurts. Hawaii alaska puerto rico guam which are more dependent on waterborne products than the continental us the most pronounced perversions. The act aren't energy. For example it would be logical for puerto rico to get liquefied natural gas ellen g from georgia or louisiana but since there are no. Us made ellen g tankers. The island imports gas from russia and other foreign sources the same phenomenon. I'm gonna distortion holds true for the. Us mainland it is cheaper for new england to get natural guests from trinidad and tobago or even siberia than from our gulf coast. We have the absurdity of refineries on the east and west coast finding it less expensive to import oil from abroad rather than from other parts of the us. California can get gas more easily. From singapore than from the gulf coast. Refined petroleum products from gulf coast. Refiners are also sold a latin america rather than here in the us because of joan zach perversions. But the jones ex distortions go beyond energy wonder. why so. Many retail products in alaska and hawaii could be so much more costly than on the american mainland huge factor. Is the jones act deep. Six in the jones act would lower the cost of shipping cargo by watering the us by fifty percent a study from the oecd declared that. Torpedoing this low at one hundred and thirty five billion dollars to america's economic output. An old cousin to the jones act is the passenger vessel services act of eighteen eighty six which similarly stipulates that only american made own staff ships could take passengers from one american port to another. That's why if you go on a cruise to alaska from san francisco the vessel. I make a stop at vancouver before going on to alaska a direct san francisco alaska route is illegal the. Us hasn't made a large cruise vessel. Since nineteen fifty-eight both laws deserve to be sent to the bottom of the sea. I'm steve forbes. Thanks for listening. Do send in your comments and suggestions. I look forward to being with you soon again..

ellen g los growth gulf coast america steve forbes puerto rico jones alaska Hawaii joan zach congress north america tobago siberia trinidad louisiana georgia new england
"steve forbes" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

03:09 min | 1 year ago

"steve forbes" Discussed on Steve Forbes: What's Ahead

"Congresses passing an infrastructure bill that spends tens of billions of dollars promoting electric vehicles. It's high time to ask a basic question or electric cars. Relieve the way to go. Hello i'm steve forbes. And this is what's ahead where you get the insights you need it better navigate. These turbulent times these days it is considered a basic fact that electric vehicles of the wave of the future that the traditional internal combustion engine is headed for the museum. Why enthusiasts say ev admit less carbon dioxide. And that's crucial for battling climate change so far though most motorists here and elsewhere not been persuaded. Despite enormous subsidies electric cars and trucks make up only three percent of the market worldwide. A big drawback is still the time. It takes a recharge vehicle hours versus few minutes at the gas pump. As for being big reduces of carbon dioxide emissions a number of studies and evaluations. Are making it clear that the situation is not as clear cut as once thought in an article for tech crunch dot com energy expert. Mark mills sums it up this way and i quote a growing body research points to the likelihood that widespread replacement of conventional cars with e vs would likely have a relatively small impact on global emissions. And it's even possible that the outcome would increase emissions and of quote. The problem comes when taking into account the carbon dioxide created when mining or making the materials that go into building an e- especially the battery that is what is dubbed embodied emissions for example what amount of carbon dioxide is emitted when mining the minerals to make the battery or omitted when manufacturing the aluminum or carbon fiber to make the car as mills puts it. And i quote. The issue is what we know and don't know about what happens before an evs delivered to a customer namely the embodied emissions arising from the labyrinth things supply chains to obtain and process. All the materials needed to fabricate batteries and to quote a typical. Ev battery for instance has sixty pounds cobalt to get that amount of cobalt means mining sixty thousand pounds of war. Then there's the mount of earth that has to be removed to actually mine these minerals. A single battery can require digging up over one hundred tons of dirt. These factors are why francis high climate council last year issued a study that found that actual emissions were some seventy percent higher than originally reported when taking into account embodied emissions in the country's imports. So where should we go from here. Very simple readjust the focus to developing more efficient combustion. Engines impossible no to that end. Impressive progress already is being made by several companies with engines that can cut fuel use by fifty percent. I'm steve forbes. Thanks for listening. Do send in your comments and suggestions look to being with you soon again..

Mark mills steve forbes francis high climate council mills
"steve forbes" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

03:06 min | 1 year ago

"steve forbes" Discussed on Steve Forbes: What's Ahead

"Hello i'm steve forbes. And this is what's ahead. We get the insights you need to better navigate. These turbulent times a potentially bit crisis is brewing. Over uncle sam's finances the federal debt ceiling needs to be raised otherwise our government can't sell bonds to raise the money for its expenses including interest on the national debt payments for social security medicare and medicaid as we all know washington spending far more than is taking in from revenue back in twenty nineteen. The limit on the national debt was suspended for two years that suspension expired on july. Thirty first this year and congress hasn't renewed the suspension since then the government has been running on the cash it has already on hand at the federal reserve revenues coming in from normal stream such as taxes and employing various gimmicks including not making payments to various retirement funds. But at some point the treasury department will run out expedience and the government's checking account will find itself on empty. Democrats have made it clear that they intend to pass. President biden's monumental budget plan without any republican votes. The extensible price tag is three point five trillion dollars. But the real cost when you strip out. All the accounting gimmicks is at least six trillion dollars legislation would make controlling future spending extremely difficult and the company tax increases will do do immense harm to the economy so in response the republicans have told the democrats. You wanna pass this damaging bill with its blow at expenditures that you raise the debt ceiling limit on your own. That is without any gop support democrat. Congressional leaders are howling. They know voters are increasingly leery of washington's unrestrained spending and that's why having to raise the debt ceiling with no republican cover is making some democrats hesitant in other words getting the necessary republican votes to resolve the debt limit. Crisis could help either. Scuttle the democrats grandiose ambitions or sharply curtail them which in turn would infuriate bernie sanders alexandria. Cossio cortez and other members of the party's influential far left in that event or casio. Cortez may finally decide to primary senate leader chuck schumer next year given the way raising or the debt limit has been played out in the past probably means the issue won't be dealt with until the government is about to default on its debt the repercussions of a default especially. If it wasn't immediately cured would royal seriously the markets. The us came close to doing that during the debt limit. Fight back in twenty eleven the mere possibility since stocks tumbling and interest rates rising. Stay tuned. I'm steve forbes. Thanks for listening to send in your comments and suggestions and look.

steve forbes President biden government washington medicaid treasury department medicare sam federal reserve congress Cossio cortez gop bernie sanders chuck schumer alexandria Cortez casio senate us
"steve forbes" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

03:12 min | 1 year ago

"steve forbes" Discussed on Steve Forbes: What's Ahead

"I'm steve forbes and this is what's ahead we get the insights you need to better navigate. These turbulent times on august fifty nine thousand nine hundred seventy president. Nixon severed the dollars linked to gold. If after that fateful day the us had maintained the average rate of growth that it achieved the previous one hundred eighty years when it operated under gold standard. We'd have an economy today that would now be at least fifty percent larger. Ponder that for a moment that typical pre pandemic american household income would have been one hundred thousand dollars not the actual sixty six thousand dollars from the seventeen ninety s when the dollar was first linked to gold to the nineteen seventies from that link was sundered there'd been interruptions because of major wars and a devaluation during the great depression but it was always understood that the dollars ultimate value had to be linked to the yellow metal why we all know. Markets work best with fixed weights and measures. The size of a gallon of gasoline doesn't fluctuate each day nor do the number of minutes in an hour nor the number of inches in a foot. They're all constant. Money is a measure of value and works best when that value is stable just like those inches in afoot for a variety of reasons. Gold keeps its intrinsic value. Better than anything else on earth and has for four thousand years and that sense it's like a yardstick perfect but the best we have we see the gold price fluctuate. What you're seeing mostly is the value of the particular currency fluctuating. Gold is the constant economies. Can't grow without investment and you get more long-term productive investment when the value of money is not constantly fluctuating. investing as risk enough. But if you don't know what the value of the dollar will be in the future. Time horizon short hedging and currency speculation become endemic the average daily turnover of currency trading is now over five trillion dollars the myths surrounding the gold standard it causes depressions agricultural distress teenage. Jack need you name. It are numerous and false. The gold base britain would system that was created in the closing days of world. War two and blown up on august. Fifteen one thousand nine hundred seventy one had worked remarkably well. The us prospered western. Europe and japan boomed quickly surpassing prewar levels of production. Actually the closing of the gold window. August fifty nine thousand. Nine hundred seventy one was meant to be temporary but unfortunately our leaders and most economists back then didn't understand the basics of a gold based system. They didn't know how to manage it. And their heirs today are even more clueless which is why we're in for serious monetary disturbances in the months and years ahead. I'm steve forbes. Thanks for listening. Do send in your comments and suggestions look forward to being with you soon again..

steve forbes Nixon depression us britain Jack japan Europe
"steve forbes" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

03:15 min | 1 year ago

"steve forbes" Discussed on Steve Forbes: What's Ahead

"Forty years ago president. Ronald reagan signed into law a bill the profoundly impossibly changed the us in the world too bad. The current white house is going in the opposite direction. Hello i'm steve forbes. And this is what's ahead. We get the insights you need to better navigate. These turbulent times forty years ago today. President ronald reagan signed into law. The nineteen eighty-one economic recovery tax act the largest tax cut in american history. The bill slashed income tax rates for everyone it increase incentives for business investment. Loud all working tax payers to establish. Ira's that is investment. Retirement accounts it index tax brackets for inflation. Which would prevent taxpayers from being pushed into higher tax brackets. Even though the real incomes haven't gone up whack the capital gains tax it trumpy boosted exemptions for the death tax these cuts when fully phased in combined with the federal reserve finally ending the terrible inflation of the one thousand nine hundred seventy s and early nineteen eighties kicked off a fantastic economic boom. This legislation was followed by huge tax. Reform bill five years later which also cut tax rates the top tax bracket for instance one from fifty to twenty eight percent. Numerous wasteful tax shelters were eliminated. The reagan cuts imitated in varying degrees by fifty countries the global economy expanded between one thousand nine hundred eighty thousand nineteen ninety. The real growth alone of the american economy exceeded the entire size of the german economy. The third largest in the world in other words the us from growth alone created the equivalent of the german economy because of the growth of tax cuts unleashed federal revenues doubled between one thousand nine hundred eighty thousand nine hundred ninety. The portion of income tax paid by top earners soared from eighteen percent. Over thirty percent this astonishing performance combined with the rapid mighty rebuilding dilapidated military led to an outcome that had up to then been considered inconceivable that is the peaceable collapse of the once-mighty soviet union and victory in the cold war. What a contrast of the nineteen seventies before reagan took office. The us looked like a country in terminal decline. The economy is stagnant and inflation. Seemed unstoppable with interest rates reaching twenty one and a half percent soviet communism seem dynamic on the marches established beachheads in central america and took control of countries like angolan africa. Iran wants a. Us ally felt extremist religious terrorists. One would think that the extraordinary turn of events of that era would have guided policymaker since that is the potent combination of low taxes and stable money it even republican presidents of sometimes faltered here but their sins are minor compared to what we have now. A democrat president democrat congressman tent on enacting measures that eviscerate the economy with higher taxes. Numerous new spending programs and potentially a nineteen seventy style inflation. I'm steve forbes. Thanks for listening. Do send in your comments and suggestions. I look forward to being with you soon again..

Ronald reagan steve forbes Us reagan white house Ira federal reserve angolan africa Iran
"steve forbes" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

03:14 min | 1 year ago

"steve forbes" Discussed on Steve Forbes: What's Ahead

"Good news the world is not coming to an end. Hello i'm steve forbes. And this is what's ahead. Where you get the insights you need better navigate. These turbulent times the united nations intergovernmental panel on climate change just issued a report the triggered a suit nami of apocalyptic headlines about the dark condition of the planet and the grim future that awaits the world unless immediate drastic really radical action is taken the secretary general of the un warned that the report and i quote is a code red for humanity and of quote the doomsday headlines are overawed. The reality is different. Actual climate challenges are quite solvable after all. The dutch have been underwater so to speak for centuries with their elaborate system of dikes in their ongoing feats reclaiming land from the north sea. They've made the netherlands. One of the plants most prosperous places. I a word about models used to predict the future especially temperatures. These models can't even reproduce the past for example. Doctor steve kuhn. Who served as under secretary of energy for science and the obama administration notes and i quote the models failed explain why rapid global warming occurred from nineteen ten to nineteen forty when human influences on the climate or far less significant and of quote temperatures have risen about one degrees celsius since late eighteen. Hundreds get overall living standards have improved as never before including agricultural output even as the global population expanded by more than six billion people a fivefold increase surely humanity will just fine with the rise of one to two degrees celsius in the next one hundred years. In fact according to a nasa study the additional warmth we've experienced in the last thirty five years has expanded the green areas of the earth equivalent to twice the size of the continental. Us the earth is actually gotten greener contrary to widespread impressions the burned areas of the world. Today are far less than they were. Nine thousand nine hundred the losses in the us. Two fires were four times higher in the nineteen thirties. The now many of the fires that the us especially in california experiencing are the result of poor forest management. That don't routinely clear way combustible undergrowth. More people are dying from heat but climate expert bjorn lomborg points out that the additional global warmth is sharply cut desk from the cold at almost three times. The increase from losses from heat over all lives have been saved thankfully deaths around the world from whether related diseases like storms and floods are down ninety five percent from what they were a century ago. The recent horrific deaths from those floods in europe primarily germany or the result of the inexplicable failure to warn residents even though authorities new days in advance of what might becoming with eight billion people on the planet. There are very serious environmental challenges but if allowed people. We'll find sensible solutions. I'm steve forbes. Thanks for listening. Do send in your comments and suggestions look forward to being with you soon.

un steve kuhn obama administration steve forbes north sea the netherlands us nasa bjorn lomborg california germany europe
"steve forbes" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

02:58 min | 1 year ago

"steve forbes" Discussed on Steve Forbes: What's Ahead

"Watch out congressional democrats want to raid your retirement accounts. Hello i'm steve forbes. And this is what's ahead. We get the insights you need to better navigate. These turbulent times. They can't help themselves. Democrats in the senate and house our scarring about looking for money to finance their spending extravaganzas one idea is to tax retirement accounts. Democrats believe have grown too large reportedly their guests that some thirty thousand people have. Ira's worth more than five million dollars. So democrats are mulling ways to get their paws on that money perhaps with what would be outright confiscation of assets above a certain level or a certain percentage that must be paid out to beneficiaries as taxable income. And don't be loved that these rates would affect only the super rich several years ago president obama and several administration officials mused. That people didn't really need more than two million dollars or so on their accounts to fund a perfectly adequate retirement with inflation. That number won't be out of reach for tens of millions of people a decade or so hence another coming target could be roth. Ira's people fund these accounts with after tax income on the basis that future payouts would be exempt from income tax. That's the law traditionally raise of course the opposite contributions. these are tax deductible but payouts are taxable no surprise greedy washington politicians and their tax loving staffs and looking at ways to get their mitts on roth. Ira's by brazenly changing the law to tax or portion of these payouts or they might cap the size. These accounts are allowed to reach anything over that ceiling would be seized such looting of ira's or even allegedly bloated 401k's would be a forerunner of a wealth tax. Washington politicians are salivating. At how big these retirement vehicles have become nearly thirteen trillion dollars for ira's over seven trillion dollars for 401k's democrats are also examining new. Ways of tax varies trust funds especially their assets. These exactions our economy killers because they destroy the savings and capital necessary for economic growth without investment. There is no growth and no better standard of living the notion that washington bureaucrats can manage money better than the private sector is destructive. Wishful thinking. Look at what they've done to. Social security medicare trustees for social security estimate reserves there or run out by twenty thirty five for medicare years sooner or look what politicians have done to state and local pension plans most of which are alarmingly underfunded or look at the routine and massive overruns new military weapons systems. I'm steve forbes. Thanks for listening to send in your comments and suggestions look forward to being with you soon again..

Ira steve forbes roth senate ira president obama washington Washington medicare
"steve forbes" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

03:05 min | 1 year ago

"steve forbes" Discussed on Steve Forbes: What's Ahead

"Federal reserve repos are exploding. Why investors should watch out. Hello i'm steve forbes. And this is what's ahead. We get the insights you need to better navigate. These turbulent times it hasn't had much publicity but the federal reserve has been using a seemingly esoteric device. Big time a gimmick really to try to prevent a future outburst of inflation far worse than what we've been experiencing investors had better hope for two big things one that the fed is thought through what it is doing and it's not simply grasping at a short term expedient defend off an inflationary disaster and to the congress does not pass president biden's humongous spending bills that in reality exceed a mind numbing incomprehensible six trillion dollars the device referring to is called a reverse repurchase agreement or reverse repo for short. It simply means that the fed ineffective borrows money from financial institutions for a very short period of time and use us government securities that is treasuries as collateral. Technically the fed sells the security agrees to bide back at a slightly higher price later. The difference between the higher price and the original price constitutes the interest payment now a few months ago the feds holding of these instruments was zero. Now they're around a trillion dollars. What gives why would the fed be barring so much short term money the main reason to soak up the mammoth amounts of money. That has been creating money. That if not neutralized could fuel a forest fire future inflation the rising prices were now experiencing have two causes one of course is the enormous supply chain disruptions from the pandemic the second is the excess money printing the fed engaged in twenty one thousand nine hundred twenty twenty which was reflected by fifty percent increase in the price of gold and unwelcome rising interest rates now. The fed is trying to curb its ongoing money. Printing thereby avoiding a big burst of inflation and twenty twenty two an election year for congress not raise interest rates hence these reverse repos in essence the fed manufacturers the money by buying bonds and paying for them by creating money out of thin air then pulls the money back by borrowing. It's short term. It's like pouring a bucket of water and went under the poll that removing a bucket of order at the other end. Investors need to know. How long can this game go on. That's where those proposed spending bills come in. If passed the deficit already huge will explode and the federal have to buy cartloads of bonds to finance it which means a flood of new money and eventually a new worse round of inflation if thwarted and the crisis for now will be far less acute. Let's hope congress. Does this one right. I'm steve forbes. Thanks for listening to send your comments and suggestions. And i look forward to being with you soon.

fed president biden steve forbes congress
"steve forbes" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

03:09 min | 1 year ago

"steve forbes" Discussed on Steve Forbes: What's Ahead

"Here's why the. Us government is about to wage war against a new booming. Classic crypto currency called stable coins. Hello i'm steve forbes. And this is what's ahead. We get the insights you need to better navigate. These turbulent times on monday treasury secretary. Janet yellen convened a meeting of top us financial market and bank regulators to discuss what the government should do about a new category of Currency called stable coins. Bitcoin and similar cryptos get the headlines. It is stable coins that governments have central banks really fear and will fiercely fight. Unlike bitcoin and similar cryptos which fluctuate like wild rollercoasters. Stable coins are tethered to a real asset. Like the dollar or gold which means they can be easily used for everyday commercial transactions as well as for long term contracts. Nobody in the right mind would take out a mortgage denominated in bitcoin. We could end up owing ten times the price of your house. This new classic crypto has exploded from a total value of twenty eight billion dollars at the beginning of the year to one hundred. Ten billion dollars by may and they're used for commercial dealings is mushrooming. No wonder done right there. The equivalent of cash. One can see how they'll pose a mortal threat to current payment processing systems today which are complex cumbersome and costly thanks to blockchain's stable coins cut out the middleman for instance credit card transactions typically costs merchants. Two to three percent was stable coins. Those fees go out the window. Stable coin drove ashley. Ease crossborder trade and remittances. While eliminating the customary fees the ultimate savings for consumers and businesses could come to literally hundreds of billions if not trillions of dollars a year. This would free up enormous sums of capital to finance new businesses as what a substantially increasing product producing investments in existing businesses. The standard of living for all will increase meaningfully as a result. The extensible purpose of the yellen gathering sounded benign and proper and i quote bringing together. Regulators will enable us to assess the potential benefits of sable coins of mitigating risks. They could pose a user's markets or the financial system and to quote some common sense. Regulations are in order particularly in ensuring that a stable coin issuer actually has the assets to backup. It's coins just as investors need insurance that a money market fund really has the assets that says it has a. Don't be full to the real agenda here. Regulators are waking up to the fact that stable coins not only threaten existing payment systems. But even more fundamentally they also threaten the very monopoly. Governments haven't issuing currency governments. Want no challenge to that monopoly. The fireworks here are just beginning. I'm steve forbes. Thanks for listening to sending your comments and suggestions for being with you soon again..

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"steve forbes" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

03:08 min | 1 year ago

"steve forbes" Discussed on Steve Forbes: What's Ahead

"Forbes. And this is what's ahead. We get the insights. you need a better navigate. These turbulent times the oil industry is not held in high regard these days and many people including those in the biden administration want to replace it with alternative sources within a generation however this is unrealistic. Many people don't realize how widespread petroleum-based products have become in our everyday life. Items based on oil include computers aspirin vitamin capsules purses ballpoint pens soft contact lenses. Insecticides insect repellents. Footballs basketballs golf. Balls perfume lipstick. Toothpaste toothbrushes shampoo crayons. Refrigerators speakers guitar string pillows trash bags yoder bandages and six thousand of the products. Most plastics are derived from oil and gas. This lack of knowledge was graphically illustrated last december when the north face. That's what they call himself. The north face and outdoor recreational clothing company ostentatiously refused to fill an order for jackets from a small texas oil and gas company on the grounds that this company's existence didn't ally with the north faces values of getting rid of fossil fuels. The would be buyer you. Novak's down hole solutions. Wanted jackets with this logo on them to give us christmas gifts to its employees. Well it turns out that almost all of the north face clothing backpacks shoes climbing ropes and other offerings are made from petroleum based synthetic products the companies popular products wouldn't exist without the oil industry. Oops as for oil and gas being supplanted by wind solar energy and batteries the inconvenient truth is this is rather unrealistic. The availability of the minerals needed to manufacture modern. Windmills and solar panels and batteries don't exist for instance to replace. Fossil fuels would require forty fold increase in the mining of the mineral lithium sinking. The necessary numerous new mines would mean tearing up millions of acres of pristine land and destroying the biodiversity. They're seeing the expensive end. An environmental disaster refining the materials required for manufacturing wind turbines and solar panels consumer immense amounts of energy not to mention the energy needed for the manufacturing process. These themselves remember by definition. The manufacturing solar panels wind turbines and batteries requires using non-renewable materials. Steel is not renewable. Then there's the problem of waste. When turbine solar panels and batteries are good for about twenty years. Then they have to be disposed of the waste from worn out solar panels along by twenty fifty. We'll be double the total waste of plastics today. You don't have to love oil and natural gas to recognize how indispensable they are to how we live today. I'm steve forbes. Thanks for listening. Do send in your comments and suggestions. I look forward to being with you soon again..

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"steve forbes" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

03:09 min | 1 year ago

"steve forbes" Discussed on Steve Forbes: What's Ahead

"Cubans this past. Weekend erupted and spontaneous demonstrations across the island against it's cruel and oppressive regime. What should the us do. Hello i'm steve forbes. And this is what's ahead. We get the insights you need to better navigate. These turbulent times cuba's utterly corrupt communist rulers. Were stunned in recent days by spontaneous mass protests castro's ruthless dictatorial heirs. Were caught off guard and have now unleash police and paramilitary forces to stamp out the unrest. The immediate trigger for the demonstrations was the regime's refusal to do anything effective about the polling wave of covert nineteen cases but the fundamental causes were endemic and deeper except for the communist party and military elites cubans live in abject poverty suffering chronic food and medical shortages and blackouts of electricity free political expression. Only a few willing to suffer torture and death. Cuba has plenty of healthcare personnel. But they in their precious medicines are forcibly sent to various countries. Their fees are paid directly to the cuban government at much of it pocketed by the elites. The regime has also rented out its own troops and secret police agents to various thuggish dictators. Venezuela's natori security apparatus is run directly by cuba making that country a virtual colony of havana such schemes especially those with various drug cartels or why. Fidel castro died with a fortune estimated to be in the hundreds of millions of dollars. So what can the. Us do to help. Cuba's beleaguered population undermine this odious regime. President biden mayday ringing declaration of support for the protesters but words are not enough. He should restore all the sanctions including tourism. That president barack obama moved in two thousand fifteen and president trump only partially reinstated no surprise the cash generated by tourists went straight to the government not to the workers by the way the pre-obama sanctions exempted food and medicines. Us diplomats should use every form to denounce cuba's. Abominable human rights behavior. We should sanction specific individual's guilty of these crimes and aggressively go. After the foreign bank accounts with the regime's ill gotten gains. We should employ innovative technology to overcome the jamming of radio and tv. Marti which can give the cubans the truth just as radio. Liberty and radio for europe did with the soviet union and its satellites during the cold war. Those cold war broadcasts were critical in sustaining dissident movements and undermining legitimacy of european communist rulers. The travel range of cuban diplomats at the un should be sharply curtailed thereby making their spying and other subversive activities a bit more difficult and we should make it. Clear the cuban refugees are welcome. I'm steve forbes. Thanks for listening. Do send in your comments and suggestions look forward to being with you soon again..

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"steve forbes" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

02:44 min | 1 year ago

"steve forbes" Discussed on Steve Forbes: What's Ahead

"Forbes. And this is what's ahead. We get the insights you need to better navigate. These turbulent times auto sales are booming here in europe and elsewhere shortages abound. Thanks not only the greater demand but also to insufficient supplies of semiconductor chips buyers or even paying above sticker prices instead of the ones customary bargaining used cars prices been rubbing up there as well what gives the pandemic has given a lot of people in new appreciation for the mobility the auto provides instead of relying on uber taxes public transportation or catching lifts from friends another factor the mismanagement of many major american cities driving to the suburbs or otas are more of a necessity. A number of zuma's in even millennials. Who never bothered to get. A driver's license are now doing so. Of course the shortages will abate supply increases and the oh romance surrounding cars will not return thanks to fuel. Efficiency mandates automakers now feel constrained and how to design cars which is why most models look like jelly beans and are hard to tell apart but the casual indifference of recent times is gone the growing use of cars and trucks or also underscore something that a lot of manufacturers politicians and observers won't wanna hear most people are going to stick with vehicles using the internal combustion engine the basic reason it takes a few minutes to fill them up with gas or diesel fuel. It takes hours to recharge electric vehicle. That's why governments here and abroad resorting to big subsidies and outright mandates to get more people inside vs president biden wants to spend billions here for recharging stations in the like washington never had to subsidize the building of gas stations. Another obstacle to. Evt's is the current state of technology regarding the generation of electricity. He vs replacing legacy vehicles would require construction of numerous new electric plants. That would need fossil fuels. Alternatives to fossil fuels are incapable of meeting all such future needs without immense environmental damage from mining the necessary minerals for wind farms and solar panels. But while the current state of technology means use of fossil fuels will grow specially in countries like indian china. There surely quite a few individuals we've never heard of working and experimenting on creating or mobilizing other sources of energy such as molten salt nuclear power or thermal heat or something. the rest of us can't conceive of. I'm steve forbes. thanks for listening. Do send your comments and suggestions. I look forward to being with you soon again..

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"steve forbes" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

02:50 min | 1 year ago

"steve forbes" Discussed on Steve Forbes: What's Ahead

"Hello. I'm steve forbes. And this is what's ahead we get the insights you need to better navigate. These turbulent times attacks by regulators china britain and elsewhere have not bitcoin down almost fifty percent from its all time high following its spectacular rise. Now comes news. That el salvador has made bitcoin legal tender there. The first nation to do so salvadorians can pay taxes by products and services with this crypto. Currency is el salvador's. Move a harbinger better times ahead for bitcoin. And others in this category no the tax by regulates around the world and cryptocurrencies. I'm not about to stop government. Central banks and most financial service companies. Don't want serious challenges to the monopoly. Countries enjoy for creating their own currencies. El salvador here is an outlier. Twenty years ago mothballed its currency the cologne and made the us dollar. It's official currency every transaction. There's done with dollars. The move worked. Country has the lowest inflation rate in latin america and has experienced above average growth rates. There however the whale salvador's introducing bitcoin is going to backfire. Will hurt the reputation of cryptocurrencies and give ammunition to those. Want to stifle their use. I and this weird the government mandated that every provider of products and services in el salvador must accept. Bitcoin is payment. When offered no choice. It's a crime not to now. Normally governments only riccar particular currency to pay taxes and debts. People are free to use any currency they want for other transactions only tell a -tarian countries like the old soviet union require seller to accept a designated currency. Second is a problem of course remittances from salvadorans in the us to their families. Equal over twenty percent of salvador's gdp the cost of sending these dollars. Home is relatively low but do it in. Bitcoin and costs skyrocket compounding. The problem is that there only two. Atm's in the country that can handle bitcoin. Moreover seventy percent of salvadorans have no bank accounts. That's why people there want to simply stick with the dollar and not have to hassle with handling bitcoin. The third big problem is bitcoins. Notorious volatility the best money is stable. Money no one in the right mind would do a long term contract denominated in bitcoin. The time will come when properly. Structured cryptos will challenge the supremacy of government made money but today's bitcoin won't be one of them. I'm steve forbes. Thanks for listening to send in your comments and suggestions. I look forward to being with you soon again..

el salvador steve forbes britain Bitcoin china latin america us
When is the right time to sell your business with Michelle L. Seiler Tucker

Entrepreneur on FIRE

05:44 min | 1 year ago

When is the right time to sell your business with Michelle L. Seiler Tucker

"So show so many businesses feeling right now when is the best time to sell a business and then of course breakdown. Why like steve. Forbes says eight out of ten businesses will not sell and the reason that eight out of ten businesses will not sell us because business owners. Don't plan to exit. They really don't think about selling until an internal or external catastrophic event has occurred and by then is typically too late because your businesses typically turning downward the best time to sell. Your business is when your business is doing well and at its peak. The problem is most business owners. Don't plan to exit so in exit rich. I've developed what i call the s. t. Gps model and for from day one of starting or buying a business. Start with the in in mine so you should plan just like a gps when you get in your car and you turn on your gps. What are you put on your destination. Same thing with your business. You need to put in your destination. What is your desired cells price. If you wanna sell your business for twenty million dollars plug in two thousand nine million dollars. Then what do you need to know for. Gps you need to know where you're starting from. What is your current evaluation. Your current location. If you're five million dollars and you want to sell for twenty million dollars then you need your timeframe if you want to do this in five years you say okay. I want to five years for twenty million dollars on more five million dollars now. Who's going to be my buyers. There's five different types of buyers. You're not going to be able to celta first time buyer because they can't afford you so you can roll them out. You can roll out a turnaround specialists because they buy distressed assets so either strategic competitor serial entrepreneur or a private equity. Group will be buying you then you need to know. What is their pie buying criteria. What does it goes. Revenues have to look like where does the eba earnings before interest taxes depreciation and amortization have to be and what are the characteristics of the business meaning does business on all all cylinders. What we call all the solid tucker six-piece fire nation eight out of ten businesses will not sell. I mean think about that. Eighty percent of businesses are not going to be sold and so many of them. I would say probably at least eight or nine businesses that start start at least warning thinking some day they will but like michelle just shared. They don't start with the end in mind. You must start with the end in mind. And i love. He developed system. Michelle that fines. You can follow along step by step by step so they can start on the right foot and then of course and on a high note in on that right foot. So how specifically can new entrepreneurs. We're talking people that are just getting going. Designed their business to sell for a profit in the near term future. The up so i i need to get their hands on john because it is littlest step by step blueprint by the way. It was endorsed by steve forbes as well and so in an exit ridge so we go to step by step blueprint. Even for new entrepreneurs new entrepreneurs need to follow what just went through which is a s. t. gps exit model. And then they need to build a business on what are called the t. speeds and if you a business on the six you're going to have sustainable scalable and when you're ready sellable business you musical through those peace now. John brig down girl all right. I'm gonna break down here. We go so number one the most one of the most important pieces people. You don't build a business. You pull you bill. People and people build the business so you have to have the right people in the right seat and you have to ask the who question who in your business opens up. Who does well customer service issues. Who does manufacturing who does logistics distribution environmental issues tax issues accounting. Who does what human resources. The clue to the who john is. It should never be you so you should always have somebody's name next to that. Who so you have a sustainable business that runs without you and have the right people in the right seat. Many business owners have people that have good talented people but they haven't been wrong. See and let me just illustrate this a little bit farther. If you're a dental practice. And you're the only test and i try to sell your dental practice. I take you out of business. There is no business same thing with a chiropractic office or are a law firm or medical practice. So you gotta make sure you have the right people in the right. See and ask the who question and make sure your name is number next to who the second p is product. So ask yourself. Is your industry on a way up on the way out. Do you have an amazon or do you have a blockbuster and if you have a blockbuster you need to pivot unique to figure out what to do next. You need to ask yourself transformational questions. Get outta transactional become transformational. Ask yourself what business in my an. What do i do really really really well. And what business. Should i be an and let me just illustrate this. A little bit farther amazon. John businesses amazon starred in books books so amazon. Ask themselves what business. Oem wearing a book business. Then ask themselves. What do we do really well. What did they do very well john. We sell books. Yes so bucks. But what did they do really really really. While they difficult film it really really logistics was amazing. Yep and then ask themselves then what business should we be. In and they said we should be in a fulfillment business. Not the book business. So those three questions. Those street transformational questions is what turn amazon into the multi billion dollar conglomerate that it is today so ask yourself those three questions and sometimes you didn't outsider's perspective to help you see what you do really really well what you should be doing differently.

Michelle Forbes John Brig Steve Steve Forbes Tucker John Amazon
"steve forbes" Discussed on Steve Forbes: What's Ahead

Steve Forbes: What's Ahead

02:30 min | 2 years ago

"steve forbes" Discussed on Steve Forbes: What's Ahead

"Hello I'm Steve Forbes and this is what's ahead. We give you the insights you need for this ever changing turbulent world well, baseball, fans and sports fans are wondering. Are we going to get baseball this year? Well, hockey got its act together in the post. Covert World Basketball got its act together. Both of those leagues are resuming play. Yes, truncated season empty arenas, but the games will go on, but baseball. The granddaddy of the mall play was supposed to resume dry fourth ain't gonNA happen why because players and owners are locked in a bitter dispute. They're debating. How many games should there be? How should salaries be determined in this? This, truncated season, after all stadiums are GONNA be empty, a huge source of revenue in a traditional season. Well I think fans have a message for both sides. Get Your Act together. Everyone knows this is a terrible time. Compromises have to be made player should realize with people unemployed. There's not much sympathy. Oh my salary, Mike, go down a COUPLA million dollars. boohoo owners are not blameless, either. They've been practicing some of them. Bad things in recent years like tanking deliberately tanking their teams making them play badly for several years. They've also been playing. Thanks to Arcane Rules Games with calling up players from the minor leagues to lay it. It, a couple of weeks at hurts their future earnings. All of these things are legitimate issues, but now is the time for compromise. People want at least for two or three hours a day to be able to leave this troubled world, and going to the world of sports and Baseball and root for their favorite team. Unfortunately Major League Baseball has had a terrible history of labor relations twenty five years ago. They wiped out an entire season because they couldn't come to an agreement now. They have a major negotiation coming up next year. This sank going to help this dispute now, so put aside their big disputes. This is not just. Just about baseball. This is about the country. Baseball is called America's pastime while if baseball doesn't watch out, baseball's time is going to be passed when a team or a player doesn't do something that's considered right. Fans mentally put an asterisk next to that player or team. Baseball had better watch out because this whole season's going to be an Asterisk, and the way address is going to be spelled as with two S.'s not one. Get Your Act together. Guys America needs you and you need us. I'm Steve Forbes. Thank you for being with us. Give me your views on this dispute. I look forward to seeing you next time..

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U.K. to Hold Election Next Week, Opening New Phase in Brexit Odyssey

Steve Forbes: What's Ahead

00:37 sec | 2 years ago

U.K. to Hold Election Next Week, Opening New Phase in Brexit Odyssey

"Next week we get a big one in Britain they have a general general election. Boy This is going to hopefully resolve several issues. The biggest one is brexit. Boris Johnson the current prime minister be able to retain in an majority or achieve majority and be able to get a brexit deal through a will. The Labor Party headed by the virulently anti American. Anti anti-semites Jeremy Corbyn pull off an upset and win the election. This one is a big one. It affects not only Britain but it affects your and our relations relations with Britain which have been special for literally centuries

Britain Jeremy Corbyn Boris Johnson Prime Minister Labor Party
China puts $75bn of retaliatory tariffs on US goods

Steve Forbes: What's Ahead

00:24 sec | 3 years ago

China puts $75bn of retaliatory tariffs on US goods

"I hate to defend the fed but the chairman does have a point that the real overhang of the economy is trade and the trade war is heating up as china puts on new tariffs on u._s. Goods is to show. They're not backing down. Maybe that will get the negotiator sitting down and getting something done but in the meantime that uncertainty is going going to hurt business investment

FED Chairman China