So with Britain deciding to leave the EU what does this mean? Will this lead to a collapse of the European Union as more states decide to opt out? There’s a lot of uncertainty out there and the markets have reflected that since the Brexit vote took place. The Brexit vote really shows how people all over the world are unhappy and are losing confidence in the system! Look no further than Donald Trump and Bernie Sanders in the United States and again, those are people unhappy with the system and the elites in charge today! There’s a feeling of revolution out there and Brexit is just a sign of that. How many more cracks will we see before the global economy comes crashing down?

The economy continues to worsen for the people of Venezuela. People are digging through piles of rubbish to find food because they are starving and are more likely to come away with more food there then they would going to the grocery store! Families are letting their family dogs go because they can’t afford to feed them!  Stray dogs are so skinny that every rib and bone is visible!  This is what socialism does for people. Socialism brings equal misery to all! The government isn’t capable of providing abundance, that’s what capitalism does!  Government can only squander resources first taken from the private sector. The reality facing Venezuela today, could be in store for the average American very soon.

Charles Murray recently wrote a piece at the Wall Street Journal and he argues in favor of a Universal Basic Income. Charles wants to eliminate all welfare as we know it today and replace it with a $13,000 check that goes directly into the bank account of all Americans. Should libertarians be supporting a way to make welfare more efficient and using government as a solution? Or should libertarians be arguing how the private sector is the answer to poverty by creating more opportunities and more wealth for all? All this and much more are discussed on this episode.

There’s $500 million in fraud taking place annually with the “Obama phones!”  Now this sort of incompetence and people taking advantage of the system is how all government programs end up working out.  Government has no incentive to be a good steward of our capital because government doesn’t have a profit motive!  And government takes money from us with force!  We have no choice but to hand over our hard earned money to the “mob.” There’s also a viral video out of a woman who’s throwing a temper tantrum because her EBT card hasn’t been recharged yet, so she’s just trashing a convenient store to show her anger. The government has been slow at recharging EBT cards for the month of June and many people are angry because the government is their sugar daddy! Personal responsibility has been lost on this society and the road to collapse seems inevitable at this point. Wake up your family and friends if they’re still asleep to the grim future we face in the very near future. What Venezuela is experiencing right now is coming here folks.

Hilary Clinton recently responded to Trump for wanting to take advantage of a potential housing crisis from an interview in 2006. Hilary thinks buying low and selling high is being selfish and it hurts the poor! Recessions happen to correct malinvestments and those with available cash can take advantage of extremely undervalued assets! The quicker this correction happens than a faster a recovery can begin!  Those entrepreneurs with the foresight and the ability to forecast accurately what consumers want are rewarded with huge profits!  That’s a good thing!  Buying low and selling is a simple concept and yet, most people can’t see to do that!  Why is that? People get the most aggressive investing at the peak of a bubble! 

Venezuela is currently experiencing a collapse in it’s economy and what’s happening there could very well happen in the United States!  What the Venezuelan government has done to supposedly “fix” the economy continues to make matters worse!  Socialism and big government don’t work and Venezuela is living proof of that today!  Last year they had annual inflation of 180%, in 2016 experts are expecting annual inflation of 720%!  That sort of inflation officially meets the definition of hyperinflation!  Only gold can help bring stability back to the Venezuelan economy.

Donald Trump has said that he will most likely be raising taxes on the rich. Trump has contradicted himself throughout the entire republican primary and he continues to do that now! Trump’s tax plan reduces the current seven brackets, down to four and he reduces the rates. It’s certainly an improvement to what we have now but Trump has said this is really a starting point to negotiating with the democrats. Most likely, the tax rates will be much higher than what Trump has proposed in his own tax plan. And we hear all these leftists say how the rich don’t pay their fair share, well, 16% of the wealthiest americans pay 80% of all federal income taxes!  The rich are paying more than their fair share!  All this and more, on this episode!

The economy showed GDP growth of 0.5% in the first quarter of 2016, that’s down from 1.4% growth in the last quarter.  Our economy is almost technically in a recession and what is the FED to do? Lower interest rates? QE4? Our economy is not recovering and is in fact getting worse! Business investment hasn’t grown for the last 2 years!  And to top it off, we haven’t seen above 3% growth any year during Obama’s presidency!  This hasn’t been seen in modern times!  The Keynesian view of pumping money into the system and spending money isn’t working and has never worked!  When will the government and Federal Reserve actually do the right thing and step out of the way and reduce taxes and deregulate the economy? Well, with Donald Trump or Hilary Clinton as president, I don’t see that happening anytime soon.

Uber has just recently settled a $100 million class action lawsuit so that they could keep Uber drivers as independent contractors. So why is the independent contractor crucial to Uber’s success instead of the employee model?  It all comes down to avoiding costly government regulations! Government regulations are making it too expensive to do business in America today!  The government has its boot on the throats of businesses and they wonder why our economy is still struggling! When will we actually start repealing government regulations as a positive step forward instead of passing more regulations as the “answer?” I’m not sure but I’m not going to hold my breath.

Chris Casey talks about what to look for when investing in the marijuana industry and what criteria makes for a good company to invest in. There’s a lot of businesses in the marijuana industry that are not good businesses so it’s important to know what you’re looking for. Chris sees huge potential in the marijuana industry with lots of growth to come so now could be a fantastic time to enter the industry for some potentially huge gains! Chris and his team at Singularity Capital believe they have found several companies that will be huge beneficiaries in the years to come from the legal marijuana industry. Don’t miss the insight offered into an industry that very few understand.