Deist questions Austrian school economist Thornton about the real reason for booms and busts and concludes that it's impossible to know exactly when a boom will turn to a bust. Oliver agrees that it's impossible to know exactly when a boom will end, but this veteran technical analyst has an enviable track record for determining when you can safely take a longer-term position on either the long or short side of a market.
Michael has now correctly called major market turns for gold, commodities, the dollar, T-Bonds and stocks. The fundamentals underlying those markets are the topic discussed with Rubino and Michael as well.
Your host and Rubino also talk about some exceptionally promising junior exploration stocks, some of which are sponsors to this show.
John Rubino runs the popular financial website DollarCollapse.com. He is co-author, with GoldMoney's James Turk, of The Money Bubble: What To Do Before It Pops, and author of Clean Money: Picking Winners in the Green-Tech Boom (Wiley, 2008), The Collapse of the Dollar (also with James Turk), How to Profit from the Coming Real Estate Bust (Rodale, 2003) and Main Street, Not Wall Street (Morrow, 1998). After earning a Finance MBA from New York University, he spent the 1980s on Wall Street as a Eurodollar trader, equity analyst, and junk bond analyst. During the 1990s, he was a featured columnist with TheStreet.com and a frequent contributor to Individual Investor, Online Investor, and Consumers Digest, among many other publications. He currently writes for CFA Magazine.
J. Michael Oliver entered the financial services industry in 1975 on the Futures side, joining E.F. Hutton's International Commodity Division, NYC. He studied under David Johnson, head of Hutton's Commodity Division and Chairman of the COMEX.
In the 1980s, he began to develop his own momentum-based method of technical analysis. In 1987, Oliver, along with his futures client accounts (Oliver had trading POA), technically anticipated and captured the Crash. He began to realize that his emergent momentum-structural-based tools should be further developed into a full analytic methodology.
In 1992, Oliver was asked by the Financial VP and head of Wachovia Bank's Trust Department to provide soft dollar research to Wachovia. Within a year, he shifted from brokerage to full-time technical research. MSA has provided its proprietary technical research services to financial and asset management clients continually since 1992. Oliver is the author of The New Libertarianism: Anarcho-Capitalism.
Jeff Deist is president of the Mises Institute, an educational organization dedicated to promoting Austrian economics, freedom, and peace. Jeff previously worked as a longtime advisor and Chief of Staff to Congressman Ron Paul. Jeff is also a tax attorney, having represented high net worth individuals, partnerships, and corporations in a wide variety of tax matters. His tax career includes time at two different Big 4 accounting firms, specializing in tax issues arising from mergers & acquisitions for private equity firms.
Mark Thornton is an American economist of the Austrian School who has been described by the Advocates for Self-Government as "one of America's experts on the economics of illegal drugs." He has written extensively on that topic, as well as on the economics of the American Civil War, economic bubbles, and public finance. Libertarian organizations including the Independent Institute, the Cato Institute, and the Mises Institute have published Thornton's writings on drug prohibition and prohibition in general.