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We explore the potential seismic shift in US-Canada relations following Mark Carney's election as Prime Minister of Canada and the implications for North American economic integration.

• Moving back to centrist economic policies in both the US and Canada
• Canada's competitive advantage in natural resources was ignored under Trudeau
• The historical importance of the proportionality clause in US-Canada trade agreements
• Why Calgary might become an economic powerhouse like Houston or Dallas
• The weaponization of the US dollar against Russia has damaged trust in treasuries
• Gold and Bitcoin emerging as potential anchors in a new monetary system
• Trump's tariff tactics may be positioning for a larger deal on natural resources
• Northern Ontario's rare earth deposits represent critical supply chain opportunity
• Potential deregulation of US banks returning to pre-Dodd-Frank lending conditions
• Investment opportunities in tech, gold, Bitcoin, pipelines, and corporate bonds

The midterm elections will be crucial for determining if Trump can translate executive orders into durable legislation that reshapes the North American economic relationship.

Straight Talk for All - Nonsense for None


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America stands at a fiscal precipice, with national debt approaching 100% of GDP and projected to reach 130% by 2035 if current policies continue. This podcast features an illuminating conversation with fixed income expert Steve Gattuso, who brings his professional perspective as a portfolio manager at a $6 billion investment firm and his academic insights as a 12-year finance professor.

The discussion reveals how America's fiscal trajectory has deteriorated dramatically since 2012, when debt-to-GDP stood at a manageable 60%. Today, with annual deficits approaching $1.9 trillion and interest payments consuming 14% of federal spending, we're caught in what Gattuso describes as a "vicious cycle" of ever-increasing debt servicing costs. The conversation explores how COVID spending normalized massive deficits, with what once seemed like "ridiculous" $850 billion fiscal packages now appearing as "chump change."

Perhaps most concerning is the political leadership's apparent inability to address these challenges coherently. From tariff policies that were "rolled out badly" to contradictory messaging about Federal Reserve independence, there's a troubling lack of fiscal strategy. The hosts examine how the market currently focuses on day-to-day headlines while ignoring the looming debt crisis – at least until it becomes impossible to ignore.

For investors, the implications are profound. Traditional safe havens like Treasury bonds may no longer provide the security they once did. The podcast offers practical diversification strategies focusing on real assets like gold and real estate, along with potential currency diversification into Swiss francs and Japanese yen. As one host poignantly notes, "This should be a national security concern" – framing fiscal responsibility not just as an economic issue but as essential to America's long-term stability and global leadership.

We help you to understand how America's debt crisis might affect your investments and what steps you can take to protect your financial future in these increasingly uncertain times.

Straight Talk for All - Nonsense for None


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https://skepticsguidetoinvesting.buzzsprout.com

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Alternative investments offer potential diversification but come with significant trade-offs in liquidity, transparency, and fees that many investors overlook. We explore why the famous "Yale approach" to investing that worked brilliantly in the 1980s and 1990s may not be appropriate for most investors today.

• Alternative investments lack daily market pricing, with most only valued quarterly
• The "messy middle" includes less liquid investments that lack transparency of public markets
• Private equity and venture capital investments typically involve significant lockup periods
• When financial crises hit, illiquid alternatives can't be accessed when you need cash most
• High fees (often "2 and 20") create significant performance hurdles for alternative managers
• Consider investing in public shares of PE firms like KKR or Apollo rather than direct private investments
• Warren Buffett's $360B cash position and Jamie Dimon selling JPM stock are market signals worth noting
• Most investors should limit alternative allocations to 10-20% of their portfolio
• True diversification requires maintaining adequate liquidity for short and medium-term needs

Join us next week as we welcome Stephen Gattuso to discuss the national debt, interest payments, and how these fiscal challenges will impact our financial futures.

Straight Talk for All - Nonsense for None


Please check out our other podcasts:

https://skepticsguidetoinvesting.buzzsprout.com