In 1996 Don Tapscott, co-author of the Paradigm Shift, wrote, The Digital Economy, alerting us of the information highway that would shortly revolutionize how we communicate in every facet of our lives. He spoke of the fundamentally new digital economy, “where the paper trail ends and essential information is instead sent racing at the speed of light across networks.” Tapscott may have been using a crystal ball as we have certainly seen the evidence of this just recently with the Iran elections, and almost everywhere else we turn.
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In the Digital Economy, Tapscott answered the burning top of mind question every forward-looking manager and business person or business owner asks when the fabric of how business as usual changes to business as unusual… “What does the new technology (or other) mean to me and my business?”
We had the unique pleasure of meeting and interviewing Mr. Tapscott just prior to several TV tapings, several years ago. What he had to say then is still relevant today. In his interview Tapscott predicted the future of technology and how it would impact every area of business… from merchandise tracking systems, to how personal data is logged.
He spoke to the newness of technology,
“What’s so new about this economy is the actual heart of everything. The newness of it. There’s a convergence of communication technologies and content and broad public interest databases. These are crashing together and creating new digital media, changing forever how we do business and create wealth and social development. It’s creating a new economic sector that will be the basis for all other sectors. The new information superhighway is a powerhouse…”
Join Dennis McCuistion as he and Don talk about the future…
And as always thank you for joining us as we talk about things that matter with people who care…
Niki Nicastro McCuistion
Executive Producer/producer
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Why do countries around the world now seem to outstrip the United States in terms of free market philosophies as well as tax issues, from the flat tax to social security? Can the US catch up? During this installment of McCuistion Television, Dennis McCuistion is joined by three panelists on location at FreedomFest. Discussing the state of freedom in America, Dennis McCuistion is joined by:
- Daniel Mitchell – Senior Fellow at the CATO Institute
- Michelle Muccio – Washington D.C. Representative and Production Associate at The Acton Institute
- Larry Abraham – The late Larry Abraham was the co-founder of PanAmerica Capital Group, Inc. and long-time author and editor of the Insider Report, an international geopolitical investment newsletter with over 10,000 private subscribers, worldwide.
The last twenty-five years of United States history have been successful in leading America towards a smaller government. However, many economists and futurists look with question to the next twenty-five years to determine if, in fact, the trend will continue. There is a rising concern that socialist reforms will begin to take a hold on the free market system that has defined America for centuries.
Panelists discuss the free market system and how the opposing view of making the strong weaker by promoting economic equality is a dangerous approach. History and current affairs have produced clear evidence that the idea of “fair” doesn’t work. Larry Abraham, with his extensive international exposure, expounds on this viewpoint by explaining the international view of America right now.
Panelists also discuss the flat tax, social security reform and some of the empirical evidence that supports both. The panelists close the episode with FRTV’s Dennis McCuistion by offering suggestions for viewers to make a difference in these issues today.
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1704
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During this installment of McCuistion, Dennis McCuistion gathers financial wisdom from key experts regarding your personal finances in a tough economy. McCuistion is joined by Ed Douglas, author of 7 Simple Steps to Financial Freedom and a retired Bank CEO, and Kim Snider, a Financial Success Coach and author of How to Be the Family CFO.
In the current unstable economic climate where people are losing their jobs, their savings and the money they’ve invested, there is a need for financial wisdom for those who are ready to take control of their personal finances. Douglas and Snider discuss topics related to stock market losses, personal financial planning, saving, job loss, and debt accumulation and payoff.
Stock Market Losses
For those who have incurred stock market losses, it could take 10-20 years for the money to be regained. Consequently, people are going to have to save more and work longer. Snider and Douglas, offer both suggestions and warnings for the ready investor during this time period.
Personal Finance
It is critical that a clear plan is in place for family finances, a plan that takes future financial goals into consideration. Expounding on the topic of personal finance, the experts discuss financial wisdom principles and guidelines for saving, the safest places for you to put your money, what to do when you lose your job, credit, debt and more. Further discussing what to do in the event of unemployment, Snider covers discretionary and non-discretionary expenses and how both play into the personal financial plan.
Borrowing and Paying Off Debt
After stating that it’s okay for people to borrow on a home or education and nothing else, they offer suggestions on the most effective ways to get out of debt.
In closing, they suggest the following: get your credit cards paid off, establish your emergency fund, make sure that your bank account savings doesn’t exceed the FDIC limits of $250,000, continue to contribute to your investments and retirement, and manage your FICO score.
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02.22.09 – 1724
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In this episode of the McCuistion program, Dennis McCuistion is joined by panelists:
- Stan Liebowitz, PhD., author of Anatomy of A Train Wreck & Director for the Analysis of Property Rights and Settlement
- Richard Bitner, author of Confessions of a Subprime Lender and Associate Publisher for Housing Wire Magazine
- Gerald P. O’Driscoll, Jr., Senior Fellow Cato Institute
- Ira Silver, PhD., Texas Christian University, Neeley School of Business
The 2009 economy is breaking records and not necessarily the ones we’d like it to break. As we navigate the recession, McCuistion and the program panelists discuss the extremity of the problem, the effectiveness of government policies and the future.
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We are in what could be described as a post war recession. People are feeling the crunch of increased debt, and so they are working to get out of debt. This causes a strain on the housing market and other markets that rely on acquired debt in order to stay afloat.
In September 2008 the recession officially became a serious issue. However, on a percentage basis, the 1982 recession actually resulted in a greater job loss than what the American market has experienced thus far. And although the stock market has had its failings, the decline may not be as bad as some may think. In the United States the market generally goes up each year and 2008 was not much different. In 2009 growth will likely drop 1-1.5% .
Housing is one critical component of the recession, because most housing markets are imbalanced from an inventory perspective. In order for the market to improve, there needs to be a general belief that the market has hit rock bottom. However, as public policy pushes towards foreclosure moratoriums, it will likely be 3-4 years before this happens.
The panelists go on to explain the meltdown of the mortgage industry and what led to the 2009 economy and what it will take to move forward. Citing moral hazards, reckless lending, investing and negative interest rates that caused the boom cycle, they reassure viewers that pessimists are usually wrong.
Also covered during this television segment are the positive and negative sides of the Fed’s decision to expand the money supply, changing interest rates, and each panelist’s predictions of the 2009 economy as well projections for the future state of the economy.
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02.15.09 – 1723
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In this segment of McCuistion, host Dennis McCuistion is joined by a panel of experts:
- Stan Liebowitz, PhD., author of Anatomy of A Train Wreck & Director for the Analysis of Property Rights and Settlement
- Richard Bitner, author of Confessions of a Subprime Lender and Associate Publisher for Housing Wire Magazine
- Robert Higgs, author of Crisis and Leviathan and Senior Fellow in Political Economy at The Independent Institute
Unemployment is rising, stocks have fallen 35%, every area of industry is challenged, credit is tight, foreclosures are on the rise, and no-one admits responsibility. This program explores the greed, fraud and incompetence in all areas of business and government. It asks if the remedies being applied by the Treasury and the Federal Reserve System (Fed) are the right ones and if, in fact, those in charge have any idea what they are doing to America’s economic future.
Experts point toward the mortgage industry and Wall Street as the source of the recession we’re in today and explain how the recession actually started. Approximately 30-40 years ago getting a loan consisted of one loan recipient going to his or her local bank and completing the entire transaction through that one bank. With the introduction and growth of securitization, which in itself isn’t a bad thing, a new era of issues were created.
In the early 1990s in an effort to get more Americans into homes, the Fed lowered lending standards to increase home ownership. People no longer had to have verifiable income, strong credit history, and more. This caused the demand for houses to go up and the prices of those houses increased right along with it. The panelists further explain the types of decisions and misinformation that took place during this time that led to the mishandling of the situation.
The experts cover the role investment banks have played, look critically at Wall Street and rating agencies, and examine the issues surrounding both entities decisions and actions.
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02.08.09 – 1722
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Economist and editorial writer for the Wall Street Journal, Stephen Moore, joins Dennis McCuistion to discuss a changing America in this edition of McCuistion Television. During the course of the dialogue, they discuss likely changes that will occur after the November 2008 elections, the uncertain economic environment, tax policies and the stock market.
In speaking of the 2008 economy, Stephen Moore admits that America has seen great prosperity in the past few years, but the economy of a changing America is slowing down. The reasons rest with the housing market and the weakening value of the American dollar. He addresses how the weakening dollar directly affects the price of food, oil, gas and inflation in general. He goes into deep detail about this, pulling in information regarding ethanol subsidiaries, the use of US farmland and cautions regarding overseas drilling versus taking advantage of the nation’s own natural resources.
Regarding the George W. Bush administration, McCuistion and Moore dialogue about the pros and cons, economically. He speaks on what the administration did right regarding tax cuts and what they did wrong in the way of overspending.
Exploring the subject of the fiscal debt and how taxes and tax revenues play into Government money, Moore offers his suggestions for remedying the tax situation and his support of a flat tax. Moore offers his warnings and advice regarding the rapidly dwindling social security, medicare and medicaid money storehouse.
Ending the conversation on the politics and economic policies of a changing America, Moore offers his suggestions for tax reforms so that the future generations will be okay as the economy changes and the fiscal debt remains enormous. Suggestions he offer viewers include:
- Don’t count on government benefits when you retire. Begin saving money at a young age.
- Rise up and take on politicians and tell them to stop spending enormously.
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01.11.09 – 1711
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On this program Stephen Moore joins Dennis McCuistion to discuss the shift from free trade to fair trade and the implications of the weak dollar. He touches on the concern over China, Japan and countries in Middle East holding portions of the American national debt. Stephen Moore is an economist and the Senior Editorial Writer for the Wall Street Journal.
The international economy is more competitive than it has been in the last 20 years. Moore spends time discussing the importance of the tax plans in relation to the US economy and in keeping the US economy competitive with the international economy. He goes into detail mentioning corporate tax, fair tax, death tax, estate tax, income tax, state tax, etc.
In discussing fair trade versus free trade, Moore contends for free trade as it holds down prices on things that are globally traded, thus keeping the prices down.
The implications of foreign countries funding the American debt is discussed in detail. Foreigners have had confidence in the US economy for years, thus trillions of dollars in foreign investments are a part of our national debt. If foreigners were to choose to switch to another currency, we could be in a serious crisis.
Guest, David Walker, former Comptroller General of the United States, offered his viewpoint on where the nation stands economically in regards to the weak dollar. Moore follows his comments discussing the need for the U.S. to lesson off-shore oil drilling and take advantage of national resources.
They end the discussion stating that no country as ever gotten rich by devaluing their currency. Poor government policies have an affect on consumers, multi-national corporations and the world.
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1712 – 11.23.08
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Dennis McCuistion is joined by Mark Skousen, producer of Freedom Fest. Mark is an economist who takes a keen interest in economics, politics, free market issues, and others. He shares his views with no holds barred.
Freedom Fest is the world’s largest gathering of free minds. It focuses on world economics, finance, investment and debates with thought leaders. Bringing in a diverse speaker lineup from Steve Forbes to Dinesh d’Souza, the conference allows for each attendee to choose the sessions they will attend, thus creating his or her own conference.
Freedom Fest is a non-partisan, libertarian event that presents many different views in the freedom movement. During the course of the conversation, Skousen explains his motivation for creating Freedom Fest and his views on what freedom in America is today.
In addressing some issues during the last administration he explains that many citizens are toting the idea that more regulation is what is needed and is what will solve the problems America is having today. Skousen has a different view that he put to print through his pamphlet, “Persuasion vs. Force.” He asserts that the true measure of a free society is when a people can be persuaded rather than forced. He proposes that when a bill is passed, it is in fact a failure of leadership and not a success. Instead, the sign of civilized society is persuasion over force.
Discussing supply and demand he closes the interview by discussion the price of energy and inflation. He discusses the reasons for the economy today and his suggestions for moving forward from the current economic state.
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09.28.08 – 1719
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Steve Forbes joins Dennis McCuistion to discuss his support of the flat tax, issues surrounding the global economy, his views on Washington policy and his perspective on where the government should be focusing. Steve Forbes is the Editor-in-Chief for Forbes Magazine and the author of Flat Tax Revolution.
As a forerunner in the proposal of the flat tax, Forbes is adamant that the flat tax issue should be on the forefront of the Presidential agenda. He states that it not only needs reformed, but health care and social security for young Americans must also be addressed. He goes on to discuss public opinion and his belief that although the flat tax will make the most sense long term, public opinion will be something that will need to be monitored and addressed as well and his suggestions on how to do that.
It’s the complexity of the current code that creates the problem. He sited a study where one average family’s tax information was given to 45 of the best preparers in the country and they came out with 45 different results on the amount of money the family owed.
Forbes continues the discussion by candidly addressing what he would have done differently if had been elected and the different place that would have put the country. He offered suggestions and support of off-shore drilling and nuclear power plants, saying it would offer 1 million new jobs, manufacturing and construction jobs, highly skilled and highly paid jobs, thus increasing jobs, energy and national security.
He finishes off the discussion by referencing some fundamental moral problems that have left America in the spot it is in today, demographics, social security, medicare and medicaid and his suggestions as how to fix the issues.
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09.21.08 – 1718
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Is China a friend or foe? With the tremendous business opportunity in China, some say the country is a powerhouse in terms of economic development. Others say that the China threat is something we need to examine and tread lightly. Should we consider China an economic partner or a friend?
The late Larry Abraham was the Founder and Chairman of PanAmerica Capital Group, Inc. and editor of Insider Report. He joined Dennis McCuisition to discuss his somewhat controversial views of China and what some refer to as the “China threat”.
There has been no parallel throughout history for China’s economic situation. They went from almost zero economic opportunity to a powerhouse opportunity and increasing in strength. This growth directly affects the United States. Larry Abraham discusses his views on China’s military ambitions, trade surplus and the outsourcing of US jobs.
Military Ambitions – China is increasing its army. Larry Abraham explains how China’s traditional enemies play into that. Being highly exposed to China’s culture, environment and history, he explains the viewpoint that China views America with and offers his answers.
Trade Surplus – With America buying a surplus of Chinese products, it has left American trade at a deficit and China with a surplus. Dennis McCuistion and Larry Abraham discuss in detail the opposing thoughts regarding this situation and what this could mean for the future.
Exporting - McCuistion and Abraham discuss the effects of exporting American jobs overseas.
With China’s impoverished history, Larry Abraham explains the changing economic environment and its affect across the classes. He also discusses the changing environmental situation. With 70% of the water in China being contaminated, the government is making changes regarding air and water and other environmental issues.
We are seeing a new China. Larry Abraham’s perspective offers answers as to whether the China threat is something to be concerned about or not.
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01.13.08 – 1705
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