Elevate with Tyler Chesser - The Real Estate Podcast for Investing, Mindset and Personal Development E275 Dave Collum - Protect Your Investments by Developing A Critical Thinking Mindset, Finding Truth in a World of Smoke and Mirrors
With persistently high inflation, higher costs of living, reduced consumer spending, rising unemployment and layoffs, are we heading to an economic recession, if not already in it? If so, what’s the best course of action that you can take to protect your investments? In this episode, we highlight the importance of understanding market and economic conditions while learning how to protect your investment portfolio to mitigate losses.
Cornell University professor, Dave Collum joins us today to talk about the national and global economy, the threats to the system that can cause its breakdown, the ways you can protect your money, and investing in commodities and other assets. Learn about hidden inflation and why Dave believes we are at the top of a colossal bubble. As a plus, find out how we can be better investors by developing a critical thinking mindset amidst the proliferation of propaganda and fake news spreading across the various areas of our lives.
Key Points from This Episode:
- Dave’s educational and professional background
- Dave’s investing history and timeline set against the peaks and troughs of economic and market conditions.
- The current economic and market conditions and why Dave thinks that we are at the top of the most colossal bubble in history.
- Dave explains why the age of monetary policy may be over.
- What is hidden inflation and why we should account for it as well?
- Dave’s projections for the next 10 to 15 years and how these will impact investors looking to protect and grow their wealth.
- What type of tragedy is Dave predicting for the economy?
- How does one keep a critical thinking mindset amidst the proliferation of propaganda and fake news reaching across various areas of life?
- Dave talks about the upside of the next 10 to 15 years.
- How Dave is positioning his portfolio considering the favorable and unfavorable projections.
- Dave answers the rapid-fire questions.
Tweetables:
“The age of monetary policy may be over.” - Dave Collum
“We finally have discovered that if you use profoundly loose monetary standards for a very long time, inflation will eventually show up.” - Dave Collum
“Every single time in history that someone has forced rates low ends in tragedy.” - Dave Collum
“The birth of the internet is democracy's greatest hope and worst enemy.” - Dave Collum
“I throw truth bombs out there, whether right or wrong, hoping that the people who hear the preposterous things I say will start to notice and question what they're being told.” - Dave Collum
“We're about to face an economy where fewer people are providing goods and services to more people and that's not a good situation.” - Dave Collum
“When I make decisions, I ask, if this decision goes very bad, will I forgive myself? If the answer is no, I don't do it.”- Dave Collum
"I'm not disappointed you lied to me. I'm disappointed I could no longer believe you." - Dave Collum
“There are claims out there by demographic legends that the world is actually about to face a demographic collapse.” - Dave Collum
“Understand the truth about the world today, about how things work, about how things are playing out underneath the surface.” - Tyler Chesser
“Question conventional wisdom and everything frankly, because if you want to go where you want to go, there are unseen or hidden predators or villains that are trying to steal your dreams.” - Tyler Chesser
Links Mentioned:
The Price of Time by Edward Chancellor
The True Believer by Eric Hoffer
The Origins of Totalitarianism by Hannah Arendt
About Dave Collum
Dr. David Collum, MA, MS, Ph.D. is a Professor at The Cornell University. He received his Ph.D., MA, and MS degrees from Columbia University.