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First-ever Crash Concepts podcast on Financial Myths is ready

Monday, January 5, 2009, 11:59 AM

Well, as always, I let my need for quality get in the way of punctuality, but the podcast recorded on Friday is now ready for subscribers.

Ron had to make significant upgrades to the site to enable the podcast to be played right from the page (plus other serious fixes regarding file management, but that's already too much information).

The podcasts will be easier and smoother to produce from here on out and I am very much looking forward to enhancing and perfecting this additional means of communicating with the supporters of this site.

You can access podcast via the drop down menu at the top of the page under "Stay Current".

Or you can follow this link.

Once at the page you can either listen to it through the site or you can download it.

Here's the description:

In this inaugural podcast, Chris first discusses the implications of hitting a 37 year low in mortgage interest rates, especially in light of an 18% plunge in the Case Schiller House Price Index. GMAC was made a bank; does this make sense? Why was the most important news about this released early in the morning on December 31st?

The main body of the podcast deals with 4 financial myths. In it, he discusses the risks associated with relying on "buy and hold for the long term," and "stocks are cheap right now," and "there's cash on the sidelines waiting to rush in," and "our problems would be solved if we could just unlock the credit markets." If you allow these myths to creep into your decision-making, you are at risk.

The podcast then answers subscriber questions and closes with a big picture view of where we are headed.

Be sure to let me know what you think about how to improve it, what you'd like to hear next time, and any other comments or suggestions you might have, either by sending me an email or by leaving a comment here.

Also, please submit your questions for the next podcast, which is already in development.

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11 Comments

cat233's picture
cat233
Status: Platinum Member (Offline)
Joined: Aug 20 2008
Posts: 575
Re: First-ever Crash Concepts podcast on Financial Myths is ...
Chris,
Thank you so much for the podcast, it was great!  The Q&A works well. I hope you will continue to keep us updated on your stock and credit market thoughts. 
Wish you would please take the future of fiat currencies into further detail... What other countries fall when the USD does?  Also, would you please cover some of the more popular blog topics: Rent vs. mortgage... Is hyper-inflation truly inevitable? 
Thank you,
Cat
cmartenson's picture
cmartenson
Status: Diamond Member (Offline)
Joined: Jun 7 2007
Posts: 5971
Re: First-ever Crash Concepts podcast on Financial Myths is ...
cat233 wrote:
Chris,
Thank you so much for the podcast, it was great!  The Q&A works well. I hope you will continue to keep us updated on your stock and credit market thoughts. 
Wish you would please take the future of fiat currencies into further detail... What other countries fall when the USD does?  Also, would you please cover some of the more popular blog topics: Rent vs. mortgage... Is hyper-inflation truly inevitable? 
Thank you,
Cat

Cat, I will certainly try to get to all those questions...they are some of the 'biggies'.

Could you please tell me where you are from so that I can frame your questions in the preferred format?

Just the state (or country if you prefer) is fine....

cat233's picture
cat233
Status: Platinum Member (Offline)
Joined: Aug 20 2008
Posts: 575
Re: First-ever Crash Concepts podcast on Financial Myths is ...

Chris,

I am from Virginia. 

BTW... On its own, the first podcast is worth more than the monthly subscription fee to your website!  Thank you for keeping us so well informed!

To all of you others.  Why this podcast itself is more than worth the monthly subscription fee to this site.  For those of you who have any money invested in the stock market; mutual funds, individual stocks, 401k's... Bonds and other vehicles. You need to hear what Chris has to say when he covers myths and bubbles in this first podcast.

Cat

 

TimesAwasting's picture
TimesAwasting
Status: Silver Member (Offline)
Joined: Oct 13 2008
Posts: 100
Re: First-ever Crash Concepts podcast on Financial Myths is ...

Hi Chris!

Great job on the Podcast! I particularly liked the "dispelling myths" section.

Watching friends lose 40 to 50% of their net worth this past year has been difficult. Part of the struggle I've been having in conversations with them has revolved around these myths, and I just didn't have a good response to their regurgitation's... now I do (which is cool!).

One of the things I wrestle with is how we're ever going to make things right. I understand your reluctance to offer solutions at this point, since there is still much work to just "inform". But my assessment is we (as a country and world) need a serious "Mulligan". When we return over 90% of the politicians (to office) who voted for the fraudulent fleecing known as The Bailout, I know our collective gooses are cooked!

The Fed needs to be "unmade"; lobbying needs to become a capital offense; politicians need to listen to "we the people"... all daunting tasks individually, but together? Add to that, the fact that none of them will go willingly! And that doesn't even address CC issues. Short of a revolution, how do we reset the table???

Optimism, I guess, is what I'm looking for. Perhaps you could spend some time painting a desirable future... for me, that would be helpful. Perhaps for some others too!

Thank you!

Pat

Media, PA

EndGamePlayer's picture
EndGamePlayer
Status: Platinum Member (Offline)
Joined: Sep 2 2008
Posts: 546
Re: First-ever Crash Concepts podcast on Financial Myths is ...

Wow - How can you top that one?

really enjoyed it. 

Davos's picture
Davos
Status: Diamond Member (Offline)
Joined: Sep 17 2008
Posts: 3620
Re: First-ever Crash Concepts podcast on Financial Myths is ...

Hello Chris, Eric & Ron:

This is super! I downloaded the MP3 file, put it on the iPod and listened as I drove today. I'm only 1/2 way through but this really filled in a lot of gaps and explained a lot of stories that we read this week.

Take care 

The.Techno.Luddite's picture
The.Techno.Luddite
Status: Bronze Member (Offline)
Joined: Nov 26 2008
Posts: 34
Top Notch

Excellent work Chris, thanks to you Eric, Ron and everybody else who had a hand in it.

The podcast format is cool, because I was able to bop around my office working while listening, now and then rolling over to a computer to Google about and look up more info on specifics you were discussing or questions it sparked in my grey matter.

Your ending on the idea of community is something I've been very keen on lately.  I've always been a bit of an anti-social type.  But its very clear to me, strategically, that from a simple selfish standpoint:  I and my childrens survival odds are higher if we have a community around us during turbulant times.  So we have been actively reaching out more than ever before. (Buying a bunch of your DVD's and giving them out is one small part of this!).

Thanks from my family and I as always for your great work, and sometime when your travels take you up north again. Let us feed you guys and take you out for a sleigh ride or something!

Cheers,
~Todd

Erik T.'s picture
Erik T.
Status: Diamond Member (Offline)
Joined: Aug 5 2008
Posts: 1234
Re: First-ever Crash Concepts podcast on Financial Myths is ...

Hi everyone,

I've posted a new forum topic dedicated to discussion of the Podcast format. We're looking for your feedback and suggestions about what you liked, what you didn't like, and what we could do better.

I'm sorry this wasn't put up at the same time the podcast was released, as originally planned. We ran into some technical difficulties on friday...

But now that the Podcast Feedback Thread is in place, please post your comments and suggestions there.

Thanks,

Erik

 

RR2008's picture
RR2008
Status: Member (Offline)
Joined: Nov 7 2008
Posts: 1
Re: First-ever Crash Concepts podcast on Financial Myths is ...

Chris,

A couple questions I have been wrestling with, that might have general application:

1. Is there a scenario where the Fed buys Treasuries (monetizes debt) at a rate that roughly offsets deflation? Thus the total money supply in increased by government spending to offset debt contraction and we avoid both deflation and inflation. I understand that is probably walking a tightrope, but I wanted to be sure I am understanding the effects of monetizing debt and deflation correctly.

 

2. If the dollar were to collapse, what would take it's place? Wouldn't every other currency devalue? (Is there enough gold supply for people to go to gold?) Again, I'm no expert on currency.

 

Thanks,

Ralph 

Linda K's picture
Linda K
Status: Bronze Member (Offline)
Joined: Aug 23 2008
Posts: 56
Re: First-ever Crash Concepts podcast on Financial Myths is ...

Podcast is a great addition.

The informality of the discussion format makes the information accessible in a way that the video's are not. It's relaxed and feels more like you (Chris and Erik) are addressing the audience directly, especially with the inclusion of answering questions at the end.

Is it possible to give the file a name that relates to the material covered? It would make it easier to find information one wants to refer to later.

A couple things Chris said struck me in ways I haven't gotten from the CC (or forums) before. First the mention of being in the stock market for "other reasons". This wasn't explained, and that didn't bother me, but I'd like a little follow up on that if you can get to it later. I'm personally grappling with continuing to invest in companies or funds that would fall in the “socially responsible” category. Most of the stock market discussions I’ve seen on this site have to do with making (or not loosing) money. That’s great but I was wondering if one of the other reasons for investment that you referred to might fall along these more personal or moral lines. Maybe this notion of investing for “good” before profit falls under yet another myth, or Becca might suggest that this is a belief that gets in ones own way. I’ve been told enough times it’s an idealistic idea I need to “get over”.

The other thing that comes across in a stronger way than reading the reports is the positive attitude that Chris brings to his personal life altering decisions. The idea that changing your life can be “fun” is refreshing and offers some welcome relief.

deadman's picture
deadman
Status: Member (Offline)
Joined: Mar 12 2008
Posts: 14
Re: First-ever Crash Concepts podcast on Financial Myths is ...

Brilliant addition to the site. I'm very impressed with the evolution of Chris Martenson's team and approach. Great work finding great people like Davos, Erik, moderators, etc.

I'm very appreciative of the timely answers to the exact questions that have recently popped into my head.

In regards to 'cash on the sidelines', my experience is that brokers want to put the money back to work. Yes, a ton of wealth was literally destroyed, but there is a lot of cash on the sidelines. When my mainstream broker starts suggesting certain trades, I know that many other brokers are thinking the same thing. Some obvious plays are to:

1) short treasuries,

2) buy oil, etf's such as USO,

3) nibble at Platinum,

4) possibly start a position in a strong company that may trade well in the next 6-12 months, but ultimately will survive for the next 10+ years.

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