Professor
Laurence
Kotlikoff,
Charles
Hughes
Smith
&
Peter
Grandich
Please
listen
here:
Summary:
According
toPeter
Grandich
of
Peter
Grandich
and
Company
gold
is
currently
trading
several
times
lower
than
its
intrinsic
value.
Aficionado
will
delight
at
his
lofty
price
target.
Although
market
timing
can
be
a
profitable
and
rewarding
venture,
nevertheless
after
30
years
of
impressive
forecasts
he's
had
an
epiphany:
it
only
requires
one
poorly
executed
trade
to
ruin
decades
of
work.
He's
converted
to
portfolio
indexing
and
diversification
with
his
family's
nest
egg.
A
solid
core
portfolio
of
index
ETFs
or
mutual
funds
can
facilitate
any
investor
to
outperform
the
top
80%
of
professional
money
managers
and
peace
of
mind.
He's
convinced
that
the
worst
is
over
for
PMs
investors
-
the
2
year
consolidation
is
actually
a
spring
board
to
much
higher
prices.
The
discussion
shifts
to
the
Grexit
drama
-
unfortunately,
debt
negotiations
broke
down
over
the
weekend
and
default
appears
imminent.
Over
$1
billion
fled
national
bank
accounts
in
merely
a
24
hour
period.
Peter
Grandich
expects
the
Euro
currency
to
be
replaced
as
the
current
system
is
beyond
repair.
Charles
Hughes
Smith
from
Of
Two
Minds
makes
his
debut.
The
US
pays
twice
per
capita
for
healthcare
than
in
competitor
nations.
Institutions
purchased
foreclosed
properties
at
bargain
basement
prices,
thousands
at
a
time,
resulting
excessive
real
estate
prices
in
desirable
areas.
The
global
central
bank
QE
plan
involving
low
rates
is
backfiring
as
bond
investors
bid
up
yields
due
to
default
risk
issues.
The
guest
/
host
discuss
the
Fed
monetary
base,
which
has
moved
in
a
parabolic
fashion
since
the
stock
market
bottom
in
2009.
Charles
notes
that
the
actual
economy
has
experienced
little
if
any
growth.
Most
markets
are
approaching
bubble-like
condition.
Dr.
Laurence
Kotlikoff,
author
of
the
Inform
Act
(please
click
to
sign,
supported
by
17
Nobel
Laureates)
recently
gave
a
speech
before
the
US
Senate.
He
showed
that
the
government
is
broke;
the
actual
national
debt
is
12
times
the
annual
GDP,
$210
trillion
when
unfunded
liabilities
are
included.
His
solution
to
the
dilemma,
the
Inform
Act
has
the
support
of
over
17
Noble
Prize
winning
economists.
According
to
his
findings,
the
US
government
is
in
far
worse
fiscal
shape
than
Detroit
when
officials
declared
bankruptcy.
Since
2007,
the
Fed
balance
sheet
has
increased
by
over
4
fold,
comparable
to
other
nations
before
declaring
bankruptcy.
Given
the
domestic
debt
situation,
Dr.
Kotlikoff
expects
the
perfect
economic
melange
for
hyperinflation
to
send
prices
soaring.
No
government
agency
has
agreed
to
follow
his
economic
panacea,
fiscal
gap
accounting,
which
is
required
to
resolve
the
issue
via
transparency.
Right
Click
Above
and
"Save
Target
As..."
to
download.
To
learn
more
about
software
needed
to
play
the
above
formats,
please
visit
the
FAQ.
NEW
-
Hotline
-
Q&A:
1-206-666-5370
Charles
Hughes
Smith
Of
Two
Minds
Charles
Hugh
Smith
pens
the
Of
Two
Minds
blog
that
involves
a
wide
range
of
interesting
issues
including
investing
and
finance.
Of
Two
Minds
has
a
wide
audience
of
over
200,000
individual
hits
per
month.
He
is
also
a
contributor
to
the
Daily
Finance
and
has
written
eight
books.
About
Peter
Grandich
Managing
Member,
Grandich
Publications,
LLC.
With
no
formal
education
or
training,
Peter
Grandich
entered
Wall
Street
and
within
three
years
was
appointed
Vice
President
of
Investment
Strategy
for
a
leading
New
York
Stock
Exchange
member
firm.
He
was
the
editor
and
publisher
of
four
investment
newsletters,
and
appeared
on
national
TV
and
radio
over
400
times.
Labeled
the
Wall
Street
Whiz
Kid,
Grandich
gained
national
notoriety
by
being
among
the
very
few
who
not
only
forecasted
the
1987
stock
market
crash
just
weeks
before
it
happened,
but
on
the
very
next
day
he
predicted
that
within
a
year
the
market
would
reach
a
new
all-time
high
which
it
did.
Proving
his
1987
forecast
was
no
fluke,
Mr.
Grandich
said
in
January
2000
that
the
year
2000
will
go
down
as
the
year
the
great
mega
bull
market
of
the
80s
and
90s
came
to
an
end.
He
speaks
at
numerous
major
investment
conferences
worldwide
and
was
awarded
Best
Speaker
Award
eight
times
by
the
International
Investors
Conferences.
Grandich
is
the
founder
and
managing
member
of
Grandich
Publications,
LLC.
Grandich
Publications
publishes
The
Grandich
Letter.
First
published
in
1984,
it
provides
commentary
on
the
mining
and
metals
markets.
In
addition,
the
company
also
provides
a
variety
of
services
to
publicly-held
corporations
on
a
compensation
basis.
In
addition,
Grandich
is
a
member
of
the
National
Association
of
Christian
Financial
Consultants,
and
a
long-standing
member
of
The
New
York
Society
of
Security
Analysts
and
The
Society
of
Quantitative
Analysts.
Laurence
J.
Kotlikoff
is
a
William
Fairfield
Warren
Professor
at
Boston
University,
a
Professor
of
Economics
at
Boston
University,
a
Fellow
of
the
American
Academy
of
Arts
and
Sciences,
a
Fellow
of
the
Econometric
Society,
a
Research
Associate
of
the
National
Bureau
of
Economic
Research,
and
President
of
Economic
Security
Planning,
Inc.,
a
company
specializing
in
financial
planning
software.
An
active
columnist,
Professor
Kotlikoff's
columns
and
blogs
appear
in
the
Financial
Times,
Bloomberg,
Forbes,
Vox,
the
Economist,
Yahoo.com,
and
the
Huffington
Post.
Professor
Kotlikoff
received
his
B.A.
in
Economics
from
the
University
of
Pennsylvania
in
1973
and
his
Ph.D.
in
Economics
from
Harvard
University
in
1977.
From
1977
through
1983
he
served
on
the
faculties
of
economics
of
the
University
of
California,
Los
Angeles
and
Yale
University.
In
1981-82
Professor
Kotlikoff
was
a
Senior
Economist
with
the
President's
Council
of
Economic
Advisers.
Professor
Kotlikoff
is
author
or
co-author
of
16
books
and
hundreds
of
professional
journal
articles.
His
most
recent
books
are
The
Clash
of
Generations
(co-authored
with
Scott
Burns,
MIT
Press),
The
Economic
Consequences
of
the
Vickers
Commission
(Civitas),
Jimmy
Stewart
Is
Dead
(John
Wiley
&
Sons),
Spend
‘Til
the
End,
(co-authored
with
Scott
Burns,
Simon
&
Schuster),
The
Healthcare
Fix
(MIT
Press),
and
The
Coming
Generational
Storm
(co-authored
with
Scott
Burns,
MIT
Press)
and
Generational
Policy
(MIT
Press).
Professor
Kotlikoff's
writings
and
research
address
financial
reform,
personal
finance,
taxes,
Social
Security,
healthcare,
deficits,
generational
accounting,
pensions,
saving,
and
insurance.
Professor
Kotlikoff
has
served
as
a
consultant
to
the
International
Monetary
Fund,
the
World
Bank,
the
Harvard
Institute
for
International
Development,
the
Organization
for
Economic
Cooperation
and
Development,
the
Swedish
Ministry
of
Finance,
the
Norwegian
Ministry
of
Finance,
the
Bank
of
Italy,
the
Bank
of
Japan,
the
Bank
of
England,
the
Government
of
Russia,
the
Government
of
Ukraine,
the
Government
of
Bolivia,
the
Government
of
Bulgaria,
the
Treasury
of
New
Zealand,
the
Office
of
Management
and
Budget,
the
U.S.
Department
of
Education,
the
U.S.
Department
of
Labor,
the
Joint
Committee
on
Taxation,
The
Commonwealth
of
Massachusetts,
The
American
Council
of
Life
Insurance,
Merrill
Lynch,
Fidelity
Investments,
AT&T,
AON
Corp.,
and
other
major
U.S.
corporations.
He
has
provided
expert
testimony
on
numerous
occasions
to
committees
of
Congress
including
the
Senate
Finance
Committee,
the
House
Ways
and
Means
Committee,
and
the
Joint
Economic
Committee.
