CW 644 – Jeffrey Lord – What America Needs: The Case for Trump, A Consultant for CNN and the American Spectator

This show is produced by the Hartman Media Company.

For more information and links to all our great podcasts, visit hartmanmedia.com.

Welcome to the Creating wealth show with Jason Hartman. You're about to learn a new slant on investing, some exciting techniques and fresh new approaches to the world's most historically proven asset class that will enable you to create more wealth and freedom than you ever thought possible. Jason is a genuine, self made multimillionaire who's actually been there and done it. He's a successful investor, lender, developer and entrepreneur who's owned properties in 11 states, had hundreds of tenants, and been involved in thousands of real estate transactions. This program will help you follow in Jason's footsteps on the road to your Financial Independence Day. You really can do it. And now, here's your host, Jason Hartman with the complete solution for real estate investors.

Welcome to the Creating wealth show. This is your host, Jason hartman. Episode number 644. 644. And after this episode, we're gonna get off of this political stuff for a while. I know it's an election year. Everybody's talking about politics. What a bunch of characters we have in this election. I mean, give me a break. How many have we ever had this many debates in? I mean, it seems like there's a debate every night. The Republicans, the Democrats, bore me. Well, I guess it's actually not that boring in a way, because these people are such characters. I mean, here you got Trump, who's a strange dude, to say the least. He's a strange. He's a strange biscuit.

And especially in light of what's been going on lately. And then you got all those other Republicans who are having trouble getting any press. Now, my guy would be Rand Paul. Rand Paul. But of course, nobody that sensible and sort of, well, kind of boring would ever get elected in this country. Because we go for pop culture stuff, right? Pop culture, that's what we're into in America. Not saying you and I are into that, but as a population, look at what's famous, right? The Kardashians are probably more famous than any of our political candidates for sure. And it should not be that way. It should be the other way around. And then on the Democratic side, you got the criminal and the con. Communist, of course, the criminal being Hillary and the communist being Bernie. Someone posted a picture of Bernie writing coach class on probably. I couldn't tell what airline he was on, but it looked kind of like a Southwest jet. And he was just sitting there with ahoy polloi. You know, all of us Commoners. And I thought that was kind of cool actually. But Bernie, Bernie, you just know nothing about economics and how markets work. God forbid you would be president. I mean, you would really mess things up. And the funny thing about Bernie is they say, well, good old Bernie, he's a legit guy. You know, he would do a couple good things. He'd shut down hopefully the prison industrial complex. I think that's a bad thing. You can't have it be profitable to hurt people, kill them through the military industrial complex, or have it be profitable to imprison them and take away their freedom through the prison industrial complex. Of course, that's the privatized prison industrial complex. And you know, when I first heard about that idea of privatizing the prisons, I think it was in the 90s, I thought that's a good idea because private enterprise can do everything better than the government. And you know what? I think that's true. Except there are those few infrastructure related things that I don't want private enterprise involved in and one of them is prisons. I don't think it should be profitable to imprison people because that, that's a very scary idea. We've got these, these groups that our client Kathy enlightened me to. This Kathy, you're probably listening when we had breakfast in Austin that morning when you were on the Austin property tour and we had two hour breakfast because you're so darn interesting to talk to. You told me about how these private prison companies hire lobbyists to lobby for stronger, more draconian, more ridiculous laws so that they can increase their occupancy rate and lower their vacancy rate, just like any good old landlord. Except when you're running a prison, you get to charge premium rent to mostly the government. That's who pays you, right? So anyway, that's a whole disgusting system. Bernie probably would put an end to that. I don't know what good old Trump, he would do. There's a lot of things. But yeah, Bernie has no frickin clue about economics or motivations or how markets work. And it's funny that some of the other candidates like they criticize on the Republican side, not Trump. This is the one thing Trump's pretty clean on. They criticize some of the other Republicans and those Republicans of days Gone by too, of they're in the pocket of the corporatocracy, big business. What do you think Bernie's in the pocket of big unions, big labor unions and they're totally corrupt, right? So everybody's all got their thing. So Whatever. Anyway, look at, folks. After this guest on this episode, we're not going to talk about this political stuff for a while because I'm kind of bored with it. You probably are, too. Maybe you are, maybe you aren't. I don't know. I want to talk more about real estate investing, and I want to talk about making our lives better. So we will get to that in some future episodes. I'm going to take some listener questions, then we're going to go to our guest, Jeffrey Lord, and listen to this. Some of you might hate this guest. We'll see what America needs the case for Trump. He's a CNN commentator and writer for the American Spectator, Former aide to good old Ronnie the Gipper Ronald Reagan. Of course, Nancy passed away recently. What a cool love story Ron and Nancy had. You know, criticize them if you like, but they seem like they had a pretty good love story. I would sure like to have that kind of love story myself someday. All right, so listener questions. Let's get back to that. A bunch of you registered for our Salt Lake City event, and we're looking forward to seeing you there on Saturday. It's coming along great. It's going to be an awesome event. JHU Live, Jason Hartman University Live. And when you registered, you asked some questions. So let's take some more of those. This time I'm. Oh, this one comes from. This one comes from. Steven. Steven. Okay, I'm selling a condo that can't be rented due to an HOA Homeowners association rental cap. Another reason I don't like condos. Okay. Another reason I don't like condos. For sure, Too many restrictions. Those draconian homeowners associations are like the privatized prisons. Lobbying government for stricter laws. Okay, I have truly lucked out with appreciation over three years. So I'm able to clear 50 to 70,000 from the sale. The most available liquid capital I've ever had. Hey, congratulations. Or ever held. How much investment property can or should I invest with that money? How do I buy more after the cash is gone? How do I grow a larger portfolio based solely on this initial investment? Proceeds will eliminate credit card debt. My FICO score is currently 742. Wow. Nice fico score there. By the way, I do not own the home in which I currently live. Thanks. Okay, so good question there, Steven. And you're Sarah's client, so let's take these one at a time. First of all, congrats on the appreciation. You've made that nice icing on the cake. And Your first question there is how much can or should I buy? Well, you can buy about two or three good properties with that money. And you might consider if you have more, it sounds like from your question, you have actually more proceeds than that, but you're using some of them to pay down credit card debt. Now listen, I'm no fan of consumer debt. I don't have any consumer debt. The only debt I have is on my properties in terms of my mortgages. And I love that long term, high quality, low cost, fixed rate, investment grade debt. But you know, if you've got somewhat reasonable credit card debt that's not too expensive because some of these credit cards aren't terrible on their rates, some of them incentivize people to switch and give you low rates for interim period for a couple of years. You might want to consider, and this is a stretch, maybe not, but, and I'm saying this because your FICO score is so high, otherwise I would not say this at all. Okay? You might want to consider if you can finance that credit card debt at a fairly cheap rate, you might want to consider actually keeping it a little longer and using some additional money to get into a third or fourth property rather than two or three properties because that inflation induced debt destruction that will eventually occur. The leveraged roi, the tax benefits, all of the other multidimensional characteristics of a fantastic real estate investment might be and probably will be more powerful than the cost of that credit card debt. So you're arbitraging it. But that again depends on the investment you can buy and the opportunity cost of not buying it because you paid off the credit card debt. I'm not saying you should do this. I'm saying it's something to look at, consider and on which to work out the math. Okay? Second question is how do I grow a larger portfolio based on solely the initial investment? Well, you've got to wait a little while and let that investment grow. Maybe follow my refi till you die plan and get that going for you. Okay? Or save up some more money outside of your real estate investments and buy more properties that way and build your portfolio. And how do I buy more homes after all the cash is gone? Well, you either don't buy them, okay, or you wait for these to appreciate and give you some nice return. You buy them with those proceeds or you buy them more creatively. And that implies that you have a lot of time to chase down deals because the creative stuff like wholesaling, creative financing, finding that don't want or seller and Trying to buy properties with little or no money down, it's very hard to do. It is certainly possible, but it's just really hard and time consuming. So those things are for people who don't have a business or a day job. Okay, hope that answers your question. Paul has the next question. Paul says some people have rental properties held in an LLC for tax purposes. Is this advantageous for everyone? Well, first of all, I would question that assumption. I don't know that they have properties held in LLCs for tax purposes because the vast majority of the time that llc, it's just a pass through. Many people elect to treat their LLC like an S corp, an S corporation and or they have it as a disregarded entity. So there's really no tax implication. And in sometimes in some structures, the LLCs can actually cost you more in taxes. So I don't know of any particular strategy that people are using with LLCs, although it could be done if you get real creative and you have multiple entities. You know, you never say never. Okay. Because things certainly can be done when you get really creative. But generally speaking, it's not for tax benefits, it's for asset protection. And using the LLCs make things a lot more complicated. Be careful of the lawyer trying to sell you a bunch of entities because not only do they make the money on selling you the entity, but they also get to be usually your registered agent and they get to do your corporate maintenance every year. I just switched all of my corporate maintenance and registered agent stuff over to Garrett Sutton and wow, Price went down a whole bunch of. So he had a great special and made me a deal because I've got so many entities for the following years. So I was quite pleased with that. But still, it's going to cost you extra money. Your tax prep is going to get more expensive, your insurance may get more expensive. So, you know, just consider this stuff carefully before you do it. I think most people overdo it on the entity stuff. Okay, our next question comes from Ruth. Now, Ruth is a wonderful old client of mine and guess what? I sold one of her properties so long ago, I don't even want to tell you what year it was. It was in Irvine, California. And Ruth, I remember the address because it was 444 Deerfield in Irvine, California. And you had a Plan A in Wynwood Townhomes. And when I was a very young traditional real estate agent, way back when I sold your property and you were such a lovely client to work with that we've known each other for many, many years. So here is Ruth's question. She says, is it good to invest in property in Riverside? And there were some kind of messed up symbols there that occasionally happens on the Internet. I don't know why I did that, but I'm going to try and decode your message here. I think you said something about the rent to value ratio, but some funny characters slipped in here. Even if it is a good deal at $199,000 for a two bedroom, one bath, newly remodeled home, well, you know, Ruth, that does sound like a pretty good deal, even for Riverside in California, which I would not normally recommend as a place to invest. But that does not sound like too bad a deal. It's actually better than I thought. So the first couple questions I have for you are, number one, is that a single family detached home? It probably sounds like it might be a townhouse or a condo. I would shy away from those number one. And number two question on this property is, what is the rent on that property? I will bet you it will not rent for $2,000 per month for a two bedroom, one bath, probably condo or townhome in Riverside, California. So I'm guessing that this property will only rent for about $1,400 per month. That's just a guess. That would make it not a very good deal because it doesn't have the 1% rent to value ratio. Okay, thank you, Ruth, for that question and great to hear from you. And the next one is just a comment from Brittany says, why do you want to invest in real estate? Because I want to retire at age 32 and this is the best way possible. Okay, there we go. Brent asked another question. Oh, well, nope, that one's just a comment. He answers all my questions on the podcast. Okay, well, I'm glad of that. So here we'll do one more question, and this is from Samir. And Samir asks, how fast should you buy properties to become diversified? Should you buy several properties in one area and then move on to the next, or is there another way to do that? Good question. So I can't really answer that question, Samir, without knowing how many properties you're buying. For example, if you're buying six properties in a very short time frame here, then what I would do is I would buy two properties in each of three different markets. So for example, you might buy two in Memphis, two in Indianapolis, and you might buy two in Atlanta. That's just an example. I'm not saying those are the right markets to buy in. Talk with your investment counselor about your time Horizon, your risk tolerance and your investment goals. Of course, that's what we help you do. But I would generally buy two in one market and then I'd buy two in another market and then two in a third market. On the six property example, now if you're going to buy 60 properties, okay. I would start diversifying right away and I would look for maybe five in one market, five in another and five and a third. Okay. And then I would start building from there and try to add on 15 properties in each of those markets. And if you're buying a large number of properties, like 60, in my example, I went from 66 to 60. You know, Grant Cardone, the 10x rule, right. I just multiplied by 10. If you're doing that, then you might diversify into four or five markets. Okay. Remember, the rule on diversification is at least three markets but not more than five markets, generally speaking. All right, so there are some questions. We've got some more. We'll save those for the next episode. So let's get political, folks. Okay. I hope you don't hate this interview for those of you Trump haters, but we'll see what he has to say. And I also want you to know our next Venture alliance trip is coming up. And you know, I think that's going to be. Should I just spill the beans now? Hey, Coco, gotta ask my assistant here, Coco, what do you think? Should we tell him? Coco Hartman, that's my dog. And by the way, she's coming to Salt Lake City. So you'll meet her there. If you haven't met her yet, she will be our house dog at JHU Live in Salt Lake City this weekend. I'm gonna keep it in suspense. Let's not tell him yet, okay, Coco? We'll keep it secret. So we have another Venture alliance trip coming up. And if you are interested in joining a high level real estate and business mastermind group, go to venturealliancemastermind.com and check that out. You can also come as a guest. For those of you coming on Saturday, we will look forward to seeing you in Salt Lake City for JHU Live. I also want to recommend our product that many of you have been buying our online course@hartmanuniversity.com that's hartmanuniversity.com and that is our last produced Meet the Masters event online in audio and video format for you. So check that out. Let's go to our guest, Jeffrey Lord and let's talk some politics. And again, we're gonna lay off the political stuff for a While after this and just strictly focus on income property, the most historically proven asset class in the entire world.

It's my pleasure to welcome Jeffrey Lord to the show. He is a CNN contributor and contributing editor to the American Spectator, former aide to Jack Kemp and Ronald Reagan, former White House associate political director and author of the new book what America the Case for Trump. Welcome, Jeff, how are you?

I'm great, Jason, thanks for having me.

It's good to have you on. And I gotta tell you, it would seem that you're taking, I mean, the way the media, mostly controlled by the left, the way they would portray it, you're taking on maybe an unpopular angle here. I mean, aren't these Trump supporters a bunch of racists and xenophobes and anti people? And isn't Trump a big buffoon, an idiot? I mean, you know, that's the way the media portrays him all the time. Yeah.

You know, if you listen to these people, that is exactly what they have to say. And this is one of the reasons why I wrote the book, because I felt that the Trump supporters, all these thousands of people who are showing up at these rallies all across the country were being watch misportrayed. They're being portrayed exactly as you said, as a bunch of racist bigots, xenophobic nuts. And Trump is a buffoon and all of the rest of it, when in fact, I think he's a very smart guy, a very serious guy, a very competent guy. And I think his supporters are hardworking people who are just concerned about their country. They feel it's going in the wrong direction and they are determined, passionately so, to do something to right the ship of state. So hence I wrote this to sort of make the case for Donald Trump and make the case for them in a sense.

One of my liberal friends, I mean the liberal, the left is supposed to be so tolerant. They don't seem very tolerant of Trump supporters. It's interesting. I mean, in their eyes these people seem to be just evil. I mean, wow, you know, it's something else, right?

Well, the American left, I have to say, is historically not very tolerant. I mean, they, the whole tolerance bit is really more like totalitarianism 101. You know, we want to tolerate you, but you will do it our way or else. And you can see this throughout. One of the things they do repeatedly is divide people by race. You know, you've got to be this skin color, that skin color, etc. They've long ago abandoned Martin Luther King and JFK and Bobby Kennedy and colorblind America. And it's too bad, but that is what they do here and they're doing it here with Donald Trump. When he talks about illegal immigration, he's talking about illegal immigration. Here is a guy who is married to an immigrant, the son of an immigrant, the grandson of immigrants. He's hardly against immigration, but he's a white immigrant.

So that's not really an immigrant, is it?

Yeah, right. I mean, that's the way they want to make this scene. As I frequently point out on CNN, 100% of the population of America, you, me and everyone we know are descended from immigrants. Someone in our family along the line came here from somewhere else and for that matter, even the quote unquote, Native Americans came from Asia originally.

Yeah, yeah. Or everybody came from the cradle of civilization in the Middle East.

Right, exactly. I mean, however you want to say it. So Americans are hardly anti immigrant. What they are opposed to is illegal immigration, jumping the border, bringing crime into America, doing all sorts of things. I cite in the book the case of Jamil Shah Jr 17 year old African American star student, an athlete who was being looked at by Stanford and Rutgers and his mother was serving in Iraq. And he comes home in Los Angeles and he's a few steps from his door and a car pulls up with a bunch of gangsters in it from, you know, illegal immigrant thug kids. And one kid gets out. He'd been released from prison the day before.

Managed to get a gun and the day that he was out had also told his parole officer that his life's ambition was to be on death row. And he goes up to Jamil Shah, whom he didn't know, and kills him, shoots him dead right there on the street. And the parents, of course, heartbroken. Mrs. Shaw says that she felt that she couldn't discuss this, that she was made to feel that because he was shot by, shot and killed by an illegal immigrant, that this was unacceptable and polite company to discuss and they are supporting Donald Trump as a result.

It's unbelievable. It really is. I mean the political correctness is, it's really evil, frankly. I think it's a total suppression of speech. You look at the radical Muslim attack in San Bernardino, California a couple of months ago and you know those, the neighbors that witnessed them wanted to report them, but they were, they silenced themselves. They self censored because they were afraid that they would be viewed as racist. You know, I'll give you a. Just before you even comment on that, let me just give you a little interesting context that I think will help the conversation here about Trump, just literally yesterday on Facebook, one of my liberal friends, Danny and I were talking. You know, someone posted a picture of Trump and Palin, and, you know, I just commented, the two party system is a scam. Democrats and Republicans are basically statist on either side, new world order, blah, blah, blah. You know, there's a possibility Trump is an exception to this because. Because I don't really know. I mean, at least he's an outsider, thank God. And. And I'm not sure I'm a supporter of his by any means. I just want to make that clear. I don't know. I mean, you know, listen, if I had my choice, I'd have Rand Paul, but that's not gonna happen. Okay, so here's what Danny says. He says, agree with the first statement, strongly disagree with the second. He talking about Trump is an absolute joke, Jason. An absolute joke. I can't believe I'm even having a discussion, to be honest. We're talking about the Donald, you're fired. Trump as a serious candidate for the American presidency. It's truly unreal. I talk to people on the far right, in the middle and on the left. I doubt he really talks to any of those except on the left. Okay. I mean, I'm. I'm probably his only. I guess he can call me.

Right.

I'm really just libertarian person that he probably even knows. And they are an utter shock. He says that this man is being considered as a candidate for this election blows my mind. He says, oh, well, he's only dividing his base, so I'm not worried. Shocked that anyone with half a brain would even take him remotely serious, but not worried. In other words, he's not worried that he would win. You know, so it's just unbelievable.

Well, the condescension there. I mean, this is sort of typical thing when. I mean, think about this for a second. I'm sure this guy is a big Obama supporter.

Yeah. And he's 25 years old. He's 25 years old with lots of opinions and little experience, you know, so there we go.

Yeah. A community organizer, a state senator and half a term in the United States Senate. And he was qualified to be president.

Well, yeah, you're talking about Obama now.

I'm talking about Bernie versus somebody that now who built this enormous global organization which demonstrates a whole range of skills, business skills, people skills, temperament, persistence, discipline.

He is a very accomplished human being here. So I just, you know, I listen to this kind of thing and I think these people are.

Deluded. You know, frankly, I talk about Ronald Reagan often in context with Donald Trump. They're not the same person. Obviously they're different. No two people are alike. But when Ronald Reagan ran for president, they said, well, he's an actor and a B movie actor at that, and he's a joke, he's a clown, he can't be elected, he shouldn't run, he shouldn't be president, all of this kind of thing. And of course, we have a very different impression, most Americans of Ronald Reagan today, and they elected him twice in a landslide. So I don't worry about that kind of thing because I think, you know, the results will out here as we move along.

Yeah, yeah, it's, it's, it's just unbelievable. I mean, I, I can't believe the, the, just the dismissive nature. I mean, they did it with Sarah Palin too. She ran the, the biggest energy producing state in the country. It was, that was like 22% or something of the energy economy in the country. I mean, but she's just an idiot now. She was a female. But if you're a conservative female, God forbid. Oh, you're evil.

Well, this is what they do. And frankly, this has been going on for decades. I think the person they first did this to was a young congressman named Richard Nixon who earned their enmity by going after successfully Alger Hiss, who was the sort of fair haired boy of the eastern establishment. You know, he'd been to all the white schools, I think he was, been to Harvard Law School, among other things. He was a State Department employee for Franklin Roosevelt and Harry Truman. He was also, alas, a communist spy. And they didn't want to believe it. And Nixon proved it and the guy, you know, finally went to jail. But they've hated Nixon since day one about that and portrayed Nixon as, you know, an ignoramus and a bigot and I mean, all these terrible things. And then through the years, I mean, just sort of pick one. Whether it was Spiro Agnew or Dan Quayle or, you know, Gerald Ford was a great unifier until he actually became president and then he was a bumbling fool. I mean, this is what they do with these people and you know, it's just sort of an endless parade and I'm used to it. And Donald Trump is just. But the latest here.

Yeah, it's really something else. But you're right, those are interesting points you make about Trump. I mean, what he's accomplished, it's pretty amazing. And you didn't mention that he's authored a whole bunch of books. I mean, he's built this brand. I mean, look, personally, I think Trump's kind of obnoxious. I don't know, I don't like him. But that doesn't mean he's a guy who can actually run something. Obama's never run anything in his life. I mean, it was interesting that when Obama, you know, in his first term was president, I mean, no matter what room, as many people said, this didn't come from me, but in any room he ever walked into, he was the least experienced person in that room, you know, meaning all his aides had vastly more experience than he did. Yet the left loved him for. He has no resume. I mean, it's insane. It's unbelievable.

I guarantee you, if Barack Obama had everything going for him that he did actually have going for him, and yet he were conservative, they'd have pilloried him.

Oh, of course they would. Yeah. It's just so illogical. And there's just no critical thinking skills whatsoever.

That's right. It's all emotion driven.

It's totally emotion driven. And it's like, it's childish too. It's like the elementary school yard at recess, you know, nanny, nanny, nanny. It's just this like really base thing. I mean, you can't have a debate without, you know, hearing, oh, it's all George Bush's fault. It's always a character attack because they can never stay on point with issues. It's mind boggling. I can't, I can't. But how, how is it that you're a CNN contributor? I mean, CNN is full of the people we're talking about.

Well, people ask me this, I know firsthand from Jeff Zucker, who is the president of cnn, that they wanted somebody who. The fact that I worked for Ronald Reagan, that I was a bona fide conservative and that I was supporting Donald Trump. They found this an interesting combination. And I think, to be perfectly candid, at least as I understand the story, Donald Trump himself suggested me.

Oh, interesting.

They came to me and I did it for about two or three weeks and then they came and offered me a job. So that's fine. And I have to say, they've been terrific. They never censor me. I get to say, you know, speak my piece. They've been extremely fair to me. They've been terrific.

They probably realize who's getting all the ratings and it's not them. So maybe they need to change their tune a little bit and get more and more in step with things.

Well, he does bring in ratings. I Mean, when he participated in the CNN debate, they had an audience of 20 out in California. That first one for CN, they had an audience of 22 million people, which was, I believe, the largest audience in the history of the network.

Yeah, yeah, that's not what I was referring to. I was referring to the overall decline of CNN versus Fox News, for example. Oh, that's what I meant. Right.

Well, I think they're. They're, you know, they're competitive and, you know, they've got people like me on there. I think they're trying to, you know. Right. The ship a little bit.

Right. Yeah, absolutely. Well, that's smart on their part, for sure. So tell us more about the type of people these Trump supporters are. I mean, are they really these xenophobic, racist people that the media portrays them to be?

No, no, of course not. I mean, I've talked to a lot of these people, and, you know, they have a job, they have a mortgage, they have kids, they have health care concerns. They're average Americans here. They participate in their communities. They're responsible people. What they like about Donald Trump is that he gets things done and that they do. Like the fact that he is politically incorrect when he says, you know, A, B or C, that sends the establishment running for, you know, their.

I don't know what to sort of revive themselves. These people think this is terrific. I mean, his numbers go up, and every time the media dumps on him, they go up some more. You know, the American people are pretty savvy out there in the world of media. They understand how this game works. And they know that there have been people over in the past that when they get attacked and savaged by the media, they sort of turn tail and, you know, meekly apologize and go on. Trump doesn't do any of that. And I think that that's one of the endearing things.

It's refreshing, you know, it's refreshing that this guy doesn't. He doesn't do what Bill Clinton did. It licks his finger, sticks it up in the wind to see which way the wind is blowing. That's not leadership, folks. Leadership is having an internal frame. And of course, listening to, you know, constituency, obviously, but you gotta have some internal frame that actually makes you something, you know, not that you're just a. You just govern by poles. I mean, it's just crazy.

That's right. I mean, I think one of the things that people like is that he does, you know, he has vision and wants to go in a certain direction. And one of the things that always amuses me. I hear people say, oh, well, where are all the specifics? And by the way, I put some specifics in the book here so that people can see exactly what he's talking about when it comes to immigration or taxes and that sort of thing. But what amuses me is they don't recall, as I do, that this was precisely the same criticism of Ronald Reagan, that he talked in generalities and he didn't have specifics. What, in fact was going on was Reagan and Donald Trump, both excellent communicators in the age of mass media, know that what you have to do is deliver your message, you know, a core message. Forget all the details. You can hire plenty of people that will advise you on all the details and will know them better than you ever will. What you're going to get paid for as a chief executive, as President of the United States, in this case, is your judgment, is your understanding of the world around you and your principles and your judgment. That's what you get paid for. And you know, this criticism that Trump, you know, doesn't have detailed knowledge of this, that or the other thing, or he didn't know the nuclear triad. My goodness. When Ronald Reagan was president and had been president for four years, one of time's diplomatic correspondents wrote a book called His Name is Strobe Talbot, who was a friend of Bill Clinton and later in the Clinton State Department, wrote a whole book called Deadly Gambits, in which it's about Reagan's arms control policy and dealings with the Soviets. And of course, he pronounced Reagan's policies a total failure and spent great time informing everyone that Reagan didn't know what the words like throw weight, and he didn't know this term, and he didn't know that term, and he didn't know the intricacies of everything.

Unbelievable. Okay, so let's compare that to Barack Obama and none other than Bernie Sanders, a man who probably actually means. Well, I kind of almost trust him in a way, but I don't trust. I trust his integrity. I don't trust his competence one bit. I mean, he knows nothing about the way markets work. He has no concept of economy. All he does is state what the problems are. He, you know, and I admit their problems. I actually agree with him on the problems. But if he thinks he's going to solve it by, you know, making a bunch of new regulations and send business running for the hills, he's a. He's a moron. He's a child. He has no concept of. I mean, it's it's just mind boggling that adults actually fall for this idiotic clamor. It's nonsensical. They don't know how businesses work, how marketplaces work. There's a hilarious petition floating around on social media that says petition to get Bernie Sanders to read even one book on economics.

Good luck.

Yeah, I know.

Well, I mean, this is the problem with the left in general and they keep coming back to the same old thing that they're just going to, they're just going to, you know, the government should take over this, that and the other thing and regulate it, etc. I mean, this is what gave rise finally to Ronald Reagan. This is what gave rise over in Britain to Margaret Thatcher. And of course they did pretty fabulous jobs in both of those positions as President of the United States and Prime Minister of Great Britain. And they brought their countries out of, you know, a real serious slump that had been imposed by people just like Bernie Sanders. Except Bernie Sanders is even more so than somebody like Jimmy Carter or the Labour government over there in Britain in the 1970s and 60s and 50s and all of that sort of thing. So it is startling, particularly because they never learned from this. I mean, you would think that after all these failures, you would learn. And here we are almost now $19 trillion in debt and you know, Social Security, I heard today is supposed to run out of money in 13 years. That these things, you know, as Margaret Thatcher used to say, sooner or later the problem with socialism is that sooner or later you run out of other people's money.

That's a great quote. Yeah, I love that quote. So the problem with socialism is sooner or later you run out of other people's money. And that is the thing. It's a total oppressive force. And it is amazing to me, as you say that they, they keep wanting to try the experiment. I mean, whether it be, it's, and it's just a matter of degree here, you know, between socialism and communism. I had Bill Ayers on my show, interestingly, and actually I gotta, I gotta give the guy credit for two things. Number one, he said no questions are off limits. I politely asked him before the interview and I was impressed with that and he was a great interview. And he described himself as a communist with a small C. So let me see, he and his cronies are in favor of the system of government that is responsible for the deaths of almost 200 million people in the last century. I mean, quite literally, that's how many people died under communism or socialism. Remember the, the Nazis were the National Socialist. Okay. Everybody seems to forget that.

That is correct, Jason. Bravo. I always have to explain this to people.

It's. It's amazing that they. They think. Like, I remember someone on Facebook once was saying, oh, Republicans are a bunch of Nazis. And, well, that's the complete opposite of. You have no concept of what you're talking about.

That is correct.

It's amazing.

It just. It just. It just baffles me. Another one that I like is the GOP is like the Ku Klux Klan. And I have reminded people over the years that the Kuka, underneath those hoods, they were all progressive Democrats. And, you know, once upon a time in, I think it was 1924, they were in such control of the party that the nominating convention in 1924 for the Democrats that was held in Madison Square Garden in New York, was called the Klan Bank.

Oh, my gosh. That's amazing. So tell us more about that. I didn't know about the KKK's affiliation with. With the Democrats so much.

Oh, absolutely, absolutely. Eric Foner, who's a historian at Columbia University, said that they were the military arm of the Democratic Party. That's what they were created for. And another historian at the University of North Carolina referred to them as the terrorist arm of the Democratic Party.

They supplied the muscle, if you will, to keep African Americans in the day and also Jews and Catholics in line. And these people were elected to office all across the country, all across the south in particular, they were elected to local office, state office, federal office. In our lifetime. We remember Robert Byrd, who was originally a Ku Klux Klansman, but there were plenty of others. Franklin Roosevelt put Hugo Black, who was the longtime senator from Alabama, on the Supreme Court. And it came out that, of course, that Hugo Black had a lifetime passport, golden passport, as they called it, to the Ku Klux Klan. And there he sat on the court making all these decisions, some of them which were, you know, incredibly controversial. I mean, for instance, I think he wrote the opinion that interned, that pulled Japanese American citizens, that is people of a different color, out of their homes and into internment camps during World War II. And he wrote the opinion.

But the left would say that's what Trump wants to do to Muslims.

Yeah, well, of course, that is not true. And what I find fascinating here, and I've written about this, without having anything to do with Trump, that the whole internment thing was terrible. You know, it was racist and unconstitutional, et cetera. But I wanted to know what else FDR had done here when this whole Muslim Controversy came up with Donald Trump. Well, I went and looked, and sure enough, the day after, the very day after Pearl harbor, he signed three presidential proclamations, one for Germans, one for Japanese, one for Italians in America who were going through the naturalization process. He suspended their naturalization process on the spot. They had to register with the government. They couldn't leave. They couldn't go more than five miles from their home. If they had a job six miles away, they lost the job. They couldn't buy flashlights, they couldn't buy shortwave radios. I mean, there's a whole long list of things here. And, you know, in essence, Franklin Roosevelt was Donald Trump on steroids.

Yeah. So what we're. What you're really saying is Trump is a liberal. And by the way, as funny as that may sound to some, there's a case for that. I mean, he was a big Hillary Clinton supporter, you know, for. He's given lots of money to leftist politicians over the years. And he. And he's like a New York liberal type, you know. I mean, in a lot of ways.

Yeah. My answer to this is, is that, you know, making the rounds in Iowa at the moment is a video of Donald Trump on Meet the press from 1999, which is about 17 years ago, in which he's talking like a New York liberal and all this, and people are all agog. And I said, well, you know, 17 years before Ronald Reagan ran for governor of California. And I found this broadcast, a recording that was made of a radio broadcast he gave endorsing Harry Truman for president and Hubert Humphrey for the U.S. senate. And you read it, and he sounds like Bernie Sanders. He's going after the Standard Oil Company, AKA Big Oil, as we call it now. Today, he's saying that corporations are evil. I mean, it truly is remarkable. And of course, over the course of those following 17 years, he changed his mind. So, you know, I always am willing to give space here to people who change their minds. I mean, I don't know that he's the conservative that Ronald Reagan is in some sense, but I think he is a conservative. I mean, he certainly says he is. Sarah Palin is there for him. You know, I think most importantly of all, he is decidedly not Mr. Establishment, somebody who could easily have been one, stayed one, and been very comfortable with that fact. And he reminds me, I often refer to him as the Eddie Murphy character in Beverly Hills Cop. And if you're familiar with the movie, Eddie Murphy is a Detroit cop looking for a bad guy who's murdered his friend and goes to Beverly Hills. And the suspect is a very elite art dealer.

Oh, I remember. That was such a funny scene, you know.

Right. And he goes into the. The guy's club to confront him, and it's called the Harrow Club. And he gets in a fight with the guy's henchmen there, and they knock over the buffet table. And of course, Eddie Murphy's arrested, taken down to police headquarters, and the sort of snooty police chief comes in and looks him all over and says to his officers, is this the man who wrecked the buffet at the Harrow Club? And Donald Trump is, in essence, the guy who's wrecking the buffet at the Harrow Club?

Yeah. Interesting. Very interesting. Well, I mean, what do you think's gonna happen? Like, you think you'll get the nomination?

I think it's entirely possible.

You know, there's a poll out.

I mean, he's pissed off a lot of people in the party. You know, he's an outsider.

That is right. There is a CNN poll out today that shows him ahead of Ted Cruz in Iowa by 11 points. Now, the sort of. The sort of caveat to all of this is that Iowa is, of course, a caucus state, and it's not just, you know, as it is in primary states, where these polls might indicate something, and all people have to do is show up, stand in line for a few minutes, flip the switch, and leave. In Iowa, you've got to show up. I think it's on a Monday night, and you've got to sit there for three hours or so and go through this long, tedious process in somebody's living room or a neighborhood barber shop or wherever the meeting is and, you know, keep, you know, hanging in there for your candidate, Donald Trump, in this case, that takes organization. Now, the question for all of these candidates is how well organized are they? Can they get their people out? But no matter what happens in Iowa, it has not turned out to be, over the years.

Extremely predictive. Ronald Reagan lost the Iowa caucus in 1980 and went on to win the nomination in the White House. Mike Huckabee and Rick Santorum both won the Iowa caucus in 2008 and 2012 and never went anywhere. John McCain came in fifth, I think, in 2000, and then went on to win the New Hampshire primary and sort of battle it out with George becoming the main contender against George W. So it's not terribly predictive, but certainly we'll get a lot of headlines here as we move on. But if he. If Donald Trump wins that and then wins New Hampshire and South Carolina, I think. You know, almost immediately it becomes very hard for anybody else to, you know, upend him.

And I mean, you got to give him credit for one other thing. He is like a master of his campaign. He, he's, he hasn't raised much money at all, really hasn't tried much. He's basically done it all on the media's dime. He's gotten this publicity for free. It's amazing.

He said that he. I believe he said that he thought by this point he would have spent about $22 million, was, I guess, the budget they had for media and all this sort of thing. Yeah.

What'd he spend, about a million, too?

Yeah, yeah. It's about a million bucks is all he spent.

That's insane. Incredible.

I can tell you, working for cnn, you know, I go in, in the evenings to do commentary with either Anderson Cooper or, or Aaron Burnett shows. Anderson is 8 and Aaron is at 7. And more than frequently, and this happened just the other night with the Sarah Palin event, more than frequently, we're sitting there together watching a live Donald Trump appearance to see what he says and then comment on what he says. But they're carrying it, you know, live. And, you know, and that's because people want to see, you know, they, they want to see what he's going to say.

They sure do. Just a couple of things before we wrap up here on some, some actual substantive issues and, you know, what a Trump presidency might look like. I think the, the. We've got the left all clamoring for higher minimum wages, which will simply be passed through to the customers and cause inflationary pressure. Duh. Oh, Economics 101, Bernie Sanders. Okay, I guess you didn't take that class, but. So if Trump actually is the first president to get control of our borders, I think you'll just naturally see wages rise. You'll see much better trade agreements. I mean, you hear people post on social media, my friend Bill posts this stuff about how other countries don't like Trump and all this kind of stuff. Some quote from New Zealand or Australia or something like that. But if you think about it. Well, yeah, he's a tough negotiator. He's gonna get the US A good deal, unlike the other sellouts we've had in the White House.

I mean, he's a free market guy. He is not a protectionist by any stretch. But what he is, is he.

But there's a difference between protectionism and getting a good working deal. That makes sense.

When I would hear him talk about this I went back and took a look at the kind of people that had been appointed U.S. trade ambassadors. And I just give you one example that Obama's first one was a guy by the name of Ron Kirk. And what was his experience? He'd been mayor of Dallas, he'd run for the US Senate and lost, and then he became a lobbyist. Now, Trump's point is these are just political people that really have no idea what they're doing. And he's saying if it were up to him, he would put people like Carl Icahn in these jobs.

Yeah. Oh, Carl Icahn would be awesome.

Right, right. I mean, these are people who really know what they're doing when it comes to this kind of thing. And Trump himself knows what he's doing. So I think that's a really good point here. He also makes a point which sort of causes me to smile, I guess. His daughter is friends with Caroline Kennedy and he says she's a very nice person, but why in the world is she the ambassador her to Japan?

Yeah, right. What does she have to do with anything? Exactly. I know. No more dynasties in the U.S. no more Kennedys, Clintons, or Bushes.

Exactly.

That's not what the US Is about at all. We shouldn't have any more dynasty type people ever. No. God, no Hillary, please.

I, you know, I think that is, that is a driving force here, which is causing both Jeb Bush and Hillary Clinton problems. I'll tell you a quick story. I have an Apple laptop and you know, I had a problem with it and I had to call and, you know, get, get it dealt with. And the, the guy who was dealing with me sounded very young and, you know, he's asked me the technical questions and then he says, well, what are you doing? I'm telling him and all this, he says, oh. He says, well, he says, I'll say this before I get back to you. On the, on the, on the laptop, he says, you know, I don't care what else happens, but if we have a Clinton versus Bush, he says, I'm just gonna, I'm gonna go crazy.

I know, it's unbelievable. Yeah, me too. That's just, just disgusting at any level. But what else do you think a Trump presidency might look like? I certainly think America would start cutting itself some good trade deals. And I think jobs would come back to the U.S. i think that the borders would be controlled. You wouldn't have uber cheap labor competing for American jobs. And I don't know why the left, who's so in favor of Increases in minimum wage wouldn't be in favor of controlling the borders. That's just insane to me. It makes no sense whatsoever. What else would it look like or what are your thoughts on what I said? Either one.

Well, I think the economy would be better instantly. I mean, I think that's very important. I think in terms of national security policy, I think he'd go after ISIS with a vengeance. I mean, no more fooling around with this. I mean, when you hear these stories that, well, we're not supposed to bomb A, B or C targets because it's bad for the environment.

I just don't think he would go there. You know, I think he would want to get after these people and be very aggressive about it and do it in. I mean, he is not one to tolerate this kind of nonsense. So I think that that would be an improvement in a more major sense. In terms of foreign policy, I think he might reorient foreign policy so that we're not necessarily, you know, jumping into every conflict around the globe, but we're pursuing our own national interests and being selective about where we go. But when we go somewhere, do it and do it right. And interestingly, that was Ronald Reagan's approach as well.

If you recall, he had sent troops as part American troops, American Marines to Beirut as part of a peacekeeping situation with the French. And of course, a terrorist drove into the barracks and killed, I think it was 243 Marines. And Reagan said afterwards, said in his memoirs that he regretted it instantly and he pulled him out finally, he pulled out all the rest of them and wrote down these set of principles which are very close to what Trump is saying, that, you know, if you're going to do something, go do it, but don't go running around the world to do it, you know.

Yeah, that's a good point. Yeah. Well, certainly Obama, you know, he doesn't have any shred of decisiveness and, you know, he's just. He's a weak sort of empty suit kind of president as we, I mean, the business of.

He is weak. He is weak. And I mean, that's the problem here is that the perception, the perception is out there that there is this enormous weakness. And so, you know, we, I mean, this temps, you know, it tempts all the bad guys out there.

Yeah, well, you know, that's an interesting point. Let's talk about the foreign policy thing for just a quick second here. It actually, and I am the last person to be in favor of war and the military industrial complex, the things that everybody on the left accuses Republicans of being in favor of. Okay, I'm not in favor of those things and I'm fairly liberal socially, really. I just believe in freedom. Okay. So knowing that there's actually an economy that comes with having a tough guy in office because it's like saying nuclear weapons have prevented more deaths than probably anything else. There would have been a lot more conventional warfare if we didn't have the threat of mass destruction through nukes. So that preventative element of having a hard ass in the White House basically is economical. I mean, it worked with Reagan and the Soviets.

That's right. Peace through strength.

Yeah, exactly. It's not going to be peace through weakness. You know.

You know, I've gone back. I've gone back and dipped into, believe it or not, the Decline and Fall of the Roman Empire, and I found references to exactly that. That the Romans believed that as long as they had superior military strength and displayed it that they would not be challenged. And that is the way it worked for most of the time. And you know, you can go right on through to George Washington who believed the same thing, and then on to Ronald Reagan.

It's a paradox, perhaps to some, but that is what works. When you are doing it the Obama way, you are attempting fate. I mean, the world is a mess.

All of the diplomacy that he claimed, you know, we're going to talk to Iran, we're going to be diplomatic. Everybody in the Middle east is going to love us. They hate us more than ever. You could argue the Iran nuke deal, which I think is going to ultimately turn into a disaster, of course.

Yeah, exactly. I was just thinking that is exactly the point here. You know, when I listened to John Kerry the other day saying, you know, the world is safer, I mean, all I could think of is Neville Chamberlain. You know, I brought peace in our time. Right.

It's, it's my. It's really, it's really amazing how truth has left the building.

That is so correct. That is so correct. But I think it's having a comeback here. So that's a good thing.

Well, hopefully. Hopefully it is. Hopefully it is. Hey, give out your website. Tell people where they can find the book. Anything else you want to say too.

They can, they can find it at Amazon and Barnes and Noble online. They can find it in the bookstores.

They can go to The Regnery.

Publishing, regnery.com, the publisher, they've got a website and you can, can buy it, I think, directly from there. So I hope they go out and give it a look and think about it, because I think Donald Trump has really made a major impression on people and I think we're going to be hearing from him a lot this year.

Very interesting. Well, Jeffrey Lord, thank you so much for joining us.

I appreciate it. Thanks for having me.

Jason.

I've never really thought of Jason as subversive, but I just found out that's what Wall street considers him to be. Really? Now, how is that possible at all? Simple. Wall street believes that real estate investors are dangerous to their schemes because the dirty truth about income property is that it actually works in real life. I know. I mean, how many people do you know, not including insiders who created wealth with stocks, bonds and mutual funds? Those options are for people who only want to pretend they're getting ahead. Stocks and other non direct traded assets are a losing game for most people. The typical scenario is you make a little, you lose a little and spin your wheels for decades. That's because the corporate crooks running the stock and bond investing game will always see to it that they win. This means unless you're one of them, you will not win. And unluckily for Wall Street, Jason has a unique ability to make the everyday person understand investing the way it should be. He shows them a world where anything less than a 26% annual return is disappointing. Yep, and that's why Jason offers a one book set on creating wealth that comes with 20 digital download audios. He shows us how we can be excited about these scary times and exploit the incredible opportunities this present economy has afforded us. We can pick local markets untouched by the economic downturn, exploit packaged commodities investing and achieve exceptional returns safely and securely. I like how he teaches you how to protect the equity in your home before it disappears and how to outsource your debt obligations to the government. And this set of advanced strategies for wealth creation is being offered for only $197. To get your Creating Wealth Encyclopedia Book 1 complete with over 20 hours of audio, go to jasonhartman.com store if you want to be able to sit back and collect checks every month just like a banker. Jason's Creating Wealth Encyclopedia series is for you.

This show is produced by the Hartman Media Company. All rights reserved. For distribution or publication rights and media interviews, please visit www.hartmanmedia.com or email mediaartmanmedia.com Nothing on this show should be considered specific personal or professional advice. Please consult an appropriate tax, legal, real estate or business professional for individualized advice. Opinions of guests are their own and the host is acting on behalf of Platinum Properties Investor Network Inc. Exclusively.