Judy Shelton, an economist and senior fellow at the Independent Institute, dives deep into America's fiscal challenges and the urgent need for reform. She shares insights from her time as an economic advisor to Trump, critiques current monetary policies, and discusses the alarming trajectory of government spending. Shelton highlights how Federal Reserve policies perpetuate wealth inequality and explores the potential benefits of a return to a gold standard. The conversation offers a provocative look at how history can inform sustainable economic practices.
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insights INSIGHT
US Fiscal Condition
The US is at a financial pivot point, resembling the Soviet Union's pre-bankruptcy state.
High interest rates exacerbate the issue, with interest payments exceeding defense spending.
question_answer ANECDOTE
Judy Shelton's Role
Judy Shelton served as an economic advisor to President Trump during his first term, focusing on international affairs in London.
Her role involved advising on policies related to currency, tariffs, taxes, and deregulation.
insights INSIGHT
Federal Reserve Performance
Judy Shelton gives the Federal Reserve a D grade for its current monetary policy.
The Fed uses a flawed model, overlooks fiscal overspending, and punishes the private sector.
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Published in 1776, 'The Wealth of Nations' is Adam Smith's magnum opus that laid the groundwork for modern economics. The book critiques mercantilist economic theories and introduces the concept of the 'invisible hand,' which describes how individual self-interest leads to societal benefit. It emphasizes the division of labor, the accumulation of capital, and the importance of free markets. Smith argues that a nation's wealth is not measured by its gold and silver reserves but by the stream of goods and services it produces. The book also outlines the core functions of government, such as maintaining defense, enforcing civil law, and promoting education, while advocating for limited government intervention in market activities.
Good As Gold
How To Unleash The Power of Sound Money
Judy Shelton
Changing Fortunes
Paul Tilley
While I don't have enough information to provide a detailed summary of "Changing Fortunes," I can confirm that it's a book related to finance and markets. It likely offers insights into market trends, investment strategies, or the experiences of individuals within the financial industry. Further research would be needed to provide a more comprehensive description. The book's title suggests a focus on shifts in financial landscapes and the opportunities or challenges they present.
From tariffs to tax cuts to de-regulation to budget reductions to a potential sovereign wealth fund, the new Trump administration is moving aggressively to redesign the way America finances itself.Are these much-needed reforms that will put the American economy on a more secure & sustainable footing?Or could they risk resulting in misguided chaos?To find out, today we have the great fortune to welcome to the program Dr Judy Shelton, economist, author, Senior Fellow at the Independent Institute and the author of Good as Gold How to Unleash the Power of Sound Money.She's a particularly qualified expert on today's topic because she served as an economic advisor to President Trump during his first term, and was nominated by him in 2020 for the Federal Reserve.BUY YOUR TICKET FOR OUR MARCH 15 CONFERENCE at https://thoughtfulmoney.com/conference
Thoughtful Money with Adam Taggart 
