Reason.tv: Investor Don Smith on the Economy
by Reason TVAt FreedomFest in July, Reason’s Nick Gillespie talked with investor (and Reason Foundation donor) Don Smith about the economy and his outlook for the market. Smith expects the U.S. will continue putting off a meaningful resolution to its debt problem, but he’s thrilled the issue is finally getting attention. Despite recent market woes, Smith is bullish on stocks: With money-market funds paying almost nothing, he says, where else are people going to put their money?
Shot and edited by Jim Epstein. About 4.30 minutes.
Held each July in Las Vegas, FreedomFest is attended by around 2,000 limited-government enthusiasts and libertarians a year. Reason.tv spoke with over two dozen speakers and attendees and will be releasing interviews over the coming weeks. For a playlist of videos released so far, go here.
Go to Reason.tv for downloadable versions and subscribe to Reason.tv’s YouTube Channel to receive automatic notifications when new material goes live.
Email this to a friend | Print |
Share on Facebook
| Tweet this
| 
Follow Us on Twitter
Subscribe via RSS
Got a Tip?
35 Comments
I really need to begin attending these FreedomFest get togethers.
No investor would admit to being anything but bullish about the future. If they weren't, they'd have no clients.
I'm bullish, too. But not in the stock market – I've been hoarding food, guns, ammo, gold and silver for over 2 years.
Ironically, I've been watching a rerun of Zombieland today. I hope you have planned for rule #1 with extra ammo, when the Zombies start coming after Barry gets his Democracy now riots…………………………."double tap".
T
h
e
Obama's
Next
Excuse
Will it be Irene?
Of course, but it will be displaced by Mother Natures next trick in short order. When you are prepared for life's tests it is so much easier. If the East Coast gets hit really hard I pity the PLANTATION DWELLERS but do not feel inclined to be terribly charitable. Obama will try to confiscate more anyway. I will be ready with popcorn to watch the debacle nonetheless.
We have had a winning formula for prosperity for over 235 yrs. Now we have to watch the Fed Reserve manipulators, the treasonous Fed Admin, the RINO quid-pro-quo CONgress, and the Dem commies. It's time to serve some subpoenas, disband all of the duplicate Got Agencies and dump this Anti-American Administration! Then we will begin to level out again. We have laws. Let's make our elected officials use them!
You betcha. The mags are loaded, ready to go – including the 32 round ones for the rifles.
Same here. Just got my Berkey filter today
That is fantastic. We've had ours for about a year now. Haven't used, but have read the instructions. Our daughter who is a vet read what it filters – she was flipped and named a couple of things on the list which she said was amazing that it could filter.
We just installed a solar attic fan and had a solar generator hard wired to the junction box with 4 large solar panels.
Wow, bizarre. I looked at solar generators today.
Meanwhile (I am a physician FYI), and ay lunch at the hospital today, one of the OB/GYN's told me she has her emergency community set up (including a "sniper") and a cardiologist told me he's going to Mississippi this weekend to get some guns. One of the podiatrists had a well dug at his home last week (75 gallons per minute !!) and he has stored 2500 POUNDS of wheat grain in his basement. A tech in the lab told me she got 4 handguns for Mother's Day and finally, our handiman told me he's storing a ton of gunpowder in order to make his own bullets when the SHTF.
It's UNREAL how many really bright people are preparing for the absolute worst. I assume you've gone to survivalblog.com?
Yep on the website …and then some. Will be making our own panels to add on. Cost should not exceed $300 each. Will take 24 panels to fully run the house. A mutual friend will be walking me through it. The Feds will give you up to a $3,000 rebate if you do the generators by the end of this year. IRS Tax Form 5695. Am checking to see of our county, state or energy company have any similar programs, too. (Florida).
You're right about the bright people. Sadly, they don't out-number the not-so-bright. My neighbors – clueless. So about 5 months ago, I created a hand-out with what was going on, what might be coming our way. Provided food storage web-sites, etc. My husband went door-to-door, passing them out.
The guys installing the system were of the not-so-bright and young. Gave them the heads up. One guy said "Lady, you're scaring me". I said "Good". Love those Mother Day presents. The kids got me some Tac Sights for one of my hand guns. Christmas, a bi-pod for Mr. Stag with Scope.
lol, that's classic. The normalcy bias is strong.
They're waiting for their Reichstag Fire
…and thick.
They're Live-Streaming the Tea Party V Launch in Napa Valley right now.
If you're interested: http://www.teapartyreview.com/tea-party-express
"With money-market funds paying almost nothing, he says, where else are people going to put their money?
Well here are a few facts:
GOLD – lows
10year – $272
5yr – $561
1yr – $1,236
6month – $1,395
2month – $1,483
1month – $1,613 (high $1,898)
Ten year GOLD chart – http://www.kitco.com/charts/popup/au3650nyb_.html
Ten year DOW chart – http://www.forecast-chart.com/stock-dow-industria...
Yeah, so sad that the O-trina Gulf oil spill wasn't sufficient to galvanize "the people" against Capitalism. He still has time…
"I hope he fails." – Rush
He will…
The stock of Marxism, Incorporated seems to be rising, especially since it is funded by the government.
An investor can be bearish as well. There are ways of making money off of dropping stock prices, such as put options and short selling.
Let's see what garbage takes place in September and October. We may see an '08 repeater.
Missed it, but thanks!
Being bullish is all well and good, but until the US Government figures out it HAS to slash spending, nothing about our current direction's going to change.
It is sad that Libertarians have some fringe fools out there. Take Kenneth John at Freedom Rings. The man wants to dismantle public education and open the borders for free-markets purposes.
I suppose all ideologies have their extremists, but the Libertarians seem to attract them.
And that's sad because many of us are interested.
Whats_Up refers to a "mutual friend" who will be guiding her in the solar process. Let me know my friend, if you need assistance, as I am that mutual friend.
I've a PDF ( can email it to you) which shows how to build your own, and I can answer any questions you have.
There are a select handful of us in here who have opened up a back channel, let me know if your interested. And btw….spent some quality time with someone in your field of expertise yesterday, had hernia surgery.
It seems to me that there are a disproportionate number of them to my eye. That is why I hold them in such low esteem. Most of them are libertines.
Maybe what we need is a less-regulation party.
You know, there is an American Conservative Party, but they get about as much attention as the Communists.
Im not exactly a gloom and doomer, but there's no way were not going top have a rough time over the next 5 years or how ever long its going to undo all the CRAP that we have been saddled with the last 3 years.
Obama and his buddy Geitner have caused so much technical damage to the markets and fiscal damage to the economy, not to say Congress isn't far from blameless either, it isn't. Im still buying stock, but very carefully.
Just my $.002 (adjusted for inflation) worth.
If sanity ever returns, we'll be back in the gold standard yet.
Big IF, I know.
"Smith is bullish on stocks: With money-market funds paying almost nothing, he says, where else are people going to put their money?"
Most of us are putting our money into our gas tanks, mortgages and refrigerators, and of course Congress's pockets.
Petro… sorry to hear about your surgery. Hope you're well on the mend! Don't let Comrade Barry and Spooky Dude cause you to split another gut!… Sorry, bad joke… but I'm sympatico, having spent an inordinate part of the past several months between doctors, test, hospitals, etc… It's the stupefying, kick_a$$ pain killers that are the worst part… (Why some people find them 'recreational', I don't know)…
At any rate it's sort of kept me out of the loop & not posting. I've been told I'll be back to normal soon… I admire how everyone here has been and is preparing. Being stuck in a high rise, in the northern burbs of Atlanta, surrounded by mostly old folks, with currently no option to move, I hope you may have some tips for me beyond what I've bee able to accomplish – hoarding food, water, cash (I know it soon may be worthless but it's the best I can do now)… I wish I were as well armed as you, Whats_Up, d, and deusex! But that's also not an option right now… plus I'd only be an army of one here! … and not the kind in the ads!
My friends and neighbors are firmly stuck in normalcy bias and I'm tired of wasting my breath. I don't trust FaceBook for anything let alone finding other like minded people in my area… got any suggestions?
And who are you planning to use these weapons on?
I'm bullish on getting rid of commies. THAT'S a recipe for economic improvement!
Yes.
Open a back channel to some people in here if you can. One's that are proven to be trusted.
Being prepared in this day and age I find to be a wise thing. I don't "plan" on using them on anyone. However, should SHTF, I am ready. Anyone attempting to trespass inside my house will be met with lead. Family first.
I cannot trust or rely on 911 or the badges that would arrive (too late). FYI: in many state constitutions, legislatures have conveniently inserted a clause stating that in a "Declared state of emergency" ALL concealed weapons permits are suspended. Was the case here in FL. But our legislature removed this clause last year.
I hope you never have to use them, and I pray no accidents ever occur with loaded weapons on your premise.
I would not be able live with myself if I ever had to take a life, even if that life was taken in self defence, maybe we just come from two different worlds, there is nothing greater than life, and there is no excuse to ever take that away from anyone.
That really says all we need to know about them then, doesn't it? And the same applies to the Libertarian Party. Like it or not…a de-facto 2 Party system is what we have. It is our responsibility to ensure that does not become a de-facto ONE Party system. That's what has been happening, and that is what the Tea Party is fighting back against. The GOP has drifted too far to the Left to be effective. The TP, and the remaining faithful within the GOP (myself included), intend to snap it back where it belongs. May God grant us victory.
So…commodities and real property. The traditional safe havens in troubled economic times. Who'da thunk it? And as far as Barry Sotero and the IRS are concerned…you can kiss any or all tax shelters goodbye. They'll NEVER stop spending your money as long as they have the power to do so.
You must be logged in to post a comment.