Welcome back to another episode of Passive Real Estate Investing. I'm your host, Marco Santarelli. Well, this episode is part two of my interview and conversation with John Taney. We talked about many things on the previous episode, so if you're starting here, go back and listen to that one first. But he just released a new book called The Money Confusion. So we're talking about that and to some degree, a lesser degree, the future of our economy and interest rates and housing to a, a smaller degree. Very interesting conversation. I think you're gonna get some interesting insight and a different perspective on money and money supply as we continue this interview with John. So without further ado, let's jump right into that interview. I hope you enjoy it. And as always, thanks for listening and remember to subscribe.

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If you missed our last episode, be sure to listen to The Money Confusion and the Future of Our Economy with John Tamny (Part 1)

So let me throw some random questions at you. In your opinion, what are some of the biggest economic challenges that the United States is facing today? Or are we facing any big economic challenge?

Is Jalen Hurts in a recession is LeBron James? No, I mean, and the economy's a collection of individuals, and so there's always people going up and down at any one time. I I, I think this, this desire to basically li shrink what is wildly sophisticated and diverse to, oh, it's recessing is just a waste of time. But I would add what do the best companies on earth do they rush to their mistakes? Yeah. Pixar is the greatest movie studio ever. And why is it because they acknowledge all their movies suck at first and then they keep fixing them. They're constantly looking for the mistakes to fix. And so to me, if you're telling me it's a recession, what you're telling me is the economy is about to grow because the recession is the ti It's a sign that we're curing things, that we're fixing what we're doing wrong.

The 1930s was the 1930s bec precisely because government got in the way of people fixing their mistakes. So recession is the signal of growth. We make the mistakes that lead to the recession during the boom times. And so if you tell me there's a recession, I'm telling you, boy, it's about to take off. The la last thing I'd say about this though is that if there's a recession, it happened a couple of years ago when growth stocks started to decline. That's where the innovation is. And so investors grew a little touchy about two years ago about that. So I'm thinking that if there recession would be a rear view mirror thing. Yeah. but generally I just think how can we reduce what is so complicated and beautiful and and remarkable to some number like G D P? Yeah. I mean, what a loser number, huh? Yeah.

Yeah. You make a really good point that I think is worth noting in everybody's in everybody's mind listening to this because most people, and especially the media, the talking heads and you know, economists, when we talk about recessions, we're talking about did we have two quarters of declining G d p gross domestic product, right? Like, is productivity going down that that's the generally accepted definition of, of a recession? What you're saying is interesting because you're looking at it at more of a micro level. Like you're using a lens and you're asking the question of is there a recession in housing or with, you know, John Doe or with this particular company or the who or the what. And so you're making it very granular from what I'm hearing you say is that you're saying a recession with who or with what not just at a very high level talking about a country economically speaking. Is that right?

Oh, yeah. No, economies are only are individuals. They're never big blobs. They're just individuals. And individuals make mistakes and successful individuals rush to their mistakes and fix them.

Yeah.