In this book, David Stockman provides an insider's account of the Reagan administration's fiscal policies and the reasons behind their failure. Stockman details the dueling delusions between President Ronald Reagan and himself: Reagan's economic delusion that taxes could be cut, military spending increased, and the budget balanced without cutting popular domestic programs, and Stockman's political delusion that such cuts could be implemented in the U.S. democratic system. The book highlights the challenges of budgeting during the era of disinflation and the role of Federal Reserve Chairman Paul Volcker. It also discusses the political realities that prevented deep spending cuts and led to significant increases in the national debt.
In 'Economics in One Lesson', Henry Hazlitt provides a concise and instructive introduction to economics by dissecting common economic fallacies. The book's central lesson is that good economics involves considering the long-term and indirect consequences of any policy for all groups, not just the immediate effects on a specific group. Hazlitt uses examples like the 'broken window fallacy' to illustrate how focusing only on immediate benefits can overlook the broader, often negative, consequences. The book advocates for free markets, economic liberty, and non-governmental solutions, making it a critical read for understanding basic economic principles and the pitfalls of government intervention[1][4][5].
Tom welcomes back the legendary Rick Rule to the show. Rick discusses the current state of the gold and his thoughts on the uranium sector. Rick also discusses the U.S. energy sector and notes that the the Canadian oil and gas industry, particularly in the Western Canadian Sedimentary Basin, is potentially even more favorable due to political conditions. He contrasts this with the over-drilled Permian basin in the U.S., suggesting Canada’s untapped resources could lead to significant growth if policies become more supportive.
Rick’s investment philosophy centers on long-term perspective, resilience, and continuous learning. Rule advises investors to educate themselves, act prudently, and build a strong reputation. He concludes with a quote from Robert Friedland, underscoring the importance of preparation for economic challenges, urging listeners to embrace this journey as an opportunity for growth.
Lastly, Rick highlights his new project Battle Bank, a unique service providing lending products secured by physical gold and silver, catering to those seeking capital access while maintaining prudent savings.
Timestamps:
00:00:00 – Introduction
00:00:50 – Noise, News, & Attention
00:09:05 – Taking Personal Action
00:13:50 – Corporate Culture & Teams
00:15:12 – Building a Portfolio
00:19:07 – 70s The Lost Decade
00:25:00 – Are Tariffs Useful?
00:30:00 – Gold Bull Mkt. Status
00:35:33 – Bullion Dealers & Sentiment
00:41:16 – 70s Inflation & Impact
00:45:50 – M&A Possibilities?
00:47:04 – Uranium Exposure
00:50:24 – Energy & Finding Value
00:52:35 – Canadian Energy & Realities
00:55:14 – Rick’s Current Projects
00:58:34 – Battle Bank & Saving in Gold
01:00:26 – Concluding Thoughts
Guest Links:
Twitter: https://twitter.com/realrickrule
Twitter: https://twitter.com/realinvestmentmedia
Website: https://ruleinvestmentmedia.com
YouTube: https://www.youtube.com/@RuleInvestmentMedia
Classroom: https://ruleclassroom.com
2024 Symposium: https://rulesymposium.com
Rick Rule has dedicated his entire adult life to many aspects of natural resources securities investing. Besides the knowledge and experience gained in a long and focused career, he has a global network of contacts in the natural resources and finance sectors.
Mr. Rule is a frequent speaker at industry conferences and is regularly interviewed for radio, television, print, and online media outlets concerning natural resources investment and industry topics. Prominent natural resources-oriented newsletters and advisories frequently quote him. Mr. Rule and his team have expertise in many resource sectors, including agriculture, alternative energy, forestry, oil and gas, mining, and water.
Mr. Rule is particularly active in private placement markets, having originated in hundreds of debt and equity transactions with private, pre-public, and public companies.
Palisades Gold Radio 
