2024-05-05 Retirement Lifestyle Advocates Radio w/ Dr. Charles Nenner

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Our guest this week on Retirement Lifestyle Advocates radio Dr. Charles Nenner, an analyst who uses cycles to analyze markets, predicts a major depression worse than the 1930s is coming. Your host, Dennis Tubbergen, talks with Dr. Nenner about what else his computer-based neural network analysis of various cycles predicts for the markets. Nenner also provides insights into his forecasts for inflation, interest rates, currencies, gold, silver, the stock and real estate markets, and global wars. He is apologetic about the negative tone but suggests preparedness is the best outcome. Dr. Charles Nenner’s career is truly impressive: he earned a medical degree from the University of Amsterdam in 1984 prior to embarking on a long and distinguished career as a financial consultant, researcher, and analyst. He has worked for Windsor NY, Merrill Lynch, Goldman Sachs, Rabobank International, and Ofek Securities in Tel Aviv. You can get a free 30-day trial subscription to Dr. Nenner’s uncannily accurate daily research reports, plus articles, podcasts, and more at www.CharlesNenner.com. For more information about Retirement Lifestyle Advocates, please visit www.RetirementLifestyleAdvocates.com.

I’m Dennis tuber and you are listening to retirement lifestyle Advocates radio glad you decided to listen in today hey joining me in segments two and three of today’s program is renowned Cycles analyst Dr Charles nenner I caught up with Charles nener this past week and got his thoughts on where the markets are headed based on his Cycles research so again that’s coming up in segments two and three of today’s program and it is May which means I have a brand new special report for you the May special report is simply titled a probate avoidance guide It’s a probate avoidance guide all you need to do to get your copy of the report as well as some bonus information is visit the website request yourport dcom the website again request your report.com and I’ll be very glad to send you a copy of this month’s special report titled probate avoidance absolutely free you’ll also get some bonus information in the box of stuff we sent to you so again request your report.com there’s an eternal truth when it comes to finance that’s not discussed as often as it should be in my view now what is that truth you’re probably wondering well here it is simply stated if there’s too much debt to be paid it will not all be paid let me say that again if there’s too much debt to be paid it will not all be paid now you’re probably saying well Dennis that’s not very profound that’s hardly an epiphany but it is a very fundamental truth that will ultimately lead to an economic reset in many countries around the world in my view now I’ll talk to Dr nener about his take on this again in segments two and three of today’s program but first just to provide some perspective just to provide some context let me give you some background ever since 1971 the US dollar has been loaned into existence what does that mean that means that ever since 1971 US dollars are debt now you’re probably listening to this going that’s the craziest thing I’ve ever heard but here’s the context prior to 1971 going all the way back to 1944 and something called the Breton Woods agreement the US dollar was an asset and it was convertible to gold at a rate of $35 an ounce so in 1944 when most of the countries of the world G gathered in Bretton Woods New Jersey it was proposed that the US dollar become the reserve currency the currency that countries would hold in inventory or reserve and use in international trade and all countries were very comfortable with this agreement because at any time they could take the US dollars they had in inventory and they could exchange them for gold so what happened in 197 1 well leading up to that time there was excessive currency Creation in the United States this was brought on by the Advent of the Medicare program and Medicaid Program the Vietnam War was going on Wars are expensive and the convertibility at that point of US dollars for gold was temporarily suspended by then president Richard Nixon now a bit more background information here for you in 1944 the us purported to have about 21,000 tons of gold in reserve by 1971 the amount of gold the US held in Reserve at least the amount reported was about 8,000 tons which which is about where we are today so in essence what led to this temporary suspension of US dollars for gold was the equivalent of a run on the bank by Foreign entities who were entitled under the Bretton Woods agreement to exchange their dollars for gold well starting in 1971 the US dollar became a fiat currency if you look at any federal reserve note that you have in your wallet or purse or pocket you see the words legal tender for all debts public and private it is legal tender for all debts public and private because the government says it is there’s nothing backing the US dollar other than the full faith and credit of the US government now once the dollar became a fiat currency see debt levels on the balance sheet of the federal government began to explode we are now at about $ 35 trillion in debt those debt levels have increased exponentially since 2020 going into 2020 debt levels were just over 20 trillion they’re now about 35 trillion and going back to 1971 one there was not even a trillion dollars in debt now I have on this program over the past few weeks quoted the Austrian Economist ludvig Von misus now in my opinion if you want to know what happens when this debt goes unpaid and you can do the math if you have a calculator with enough zeros anyway you can do the math this debt will never be paid now coming up here on the program in a couple weeks I’m going to interview Jim Rogers many of you recom uh recognize Jim Rogers as a an investor and an author very wealthy guy uh was the founder of a hedge fund back in the 70s he lives in Singapore I’m going to talk to him about whether or not the US government can ever pay down this debt and in short I’d encourage you to listen to the interview in a couple weeks but in short he said I don’t see how it can happen well Von misus going back to the Austrian Economist when discussing this debt accumulation endgame said this quote there is no means of avoiding the final collapse of a boom brought about by credit expansion what does that mean well what is credit expansion well how is currency created you don’t create currency by cutting down trees making paper and putting green ink on the paper currency is created digitally by expanding credit so vanon misus says this very very straightforwardly there is no means of avoiding the final collapse of a boom brought about by credit expansion the alternative is only whether the crisis should come about sooner as the result of the voluntary abandonment of further credit expansion in other words the policy makers just decide we’re going to stop creating currency or does it come about later as a final and total catastrophe of the currency system involved Bon Misa says there’s only two choices you stop creating currency or you continue and destroy the currency so we have to either one quit accumulating debt cold turkey and deal with the deflationary consequences that will undoubtedly inevitably emerge or we continue accumulating debt papering over the debt problem with newly created currency resulting in a hyperinflationary environment at which point you have to stop and then you get deflation so to put that another way you are either proactive about dealing with the debt or you are reactive and if you’re reactive it means you’re going to attempt to address the issue after inflation is completely out of control now there are a lot more examples historically of this latter example inflation running rampant inflation running completely out of control and the policy makers and politicians in control in each of these circumstances have to be be reactive in the way they address this problem there’s Weimar Germany after World War I you’ve all undoubtedly heard the story France in the 18th century two different times the Roman Empire early colonial America time and time again when currency is created many politicians and policy makers have chosen the latter choice they they’ve just decided we’ll address it when we have to now in the last segment of today’s program I’m going to share with you the story of one country one politician I might say one Brave politician that is standing up and saying we’re going to make the first choice we’re going to stop we’re going to address this proactively we’re not going to address this reactive L and I’ll give you that story in the last segment of today’s program but before I go to break before I come back with Dr Charles ner let me remind you that the report for the month of May is the probate of voidance guide you can get the report as well as all the bonus information by visiting request report.com I’d encourage you to do that again it’s request your report.com and I will send you a couple copies of a couple of my best-selling books as well you’ll get a copy of the revenue sourcing Book You’ll also get a copy of the little black book on Social Security maximization I’ll be back after these words stay with us welcome back to rla radio I am your host Dennis tubergen joining me once again on today’s program is returning guest Dr Charles nener uh Dr ner has to be one of the Premier Market analysts uh in the industry today he uses py research you can learn more about his work at Charles n.com that is spelled ne ne R Charles n.com and you can actually get a 30-day free trial to check out his work no credit card needed again the website Charles n.com and Dr ner always a pleasure to catch up with you get your perspective welcome back to the program hi it’s great to be back so Charles just for our listeners that um may not be familiar with what it is that you do could you give a little bit of back background about your work and how you arrived at where you are today professionally okay so I was trained as a medical doctor in Amsterdam sorry and I joined a group in a Psychiatry that was trying to figure out if people became psychotic in certain periods all over the world which they did and that’s the first the way I found out about cycles that every so many months every so many years they turned out to be more psychotic and then I was on vacation on in New York and I watch cmbc and I said the market goes up the market goes down and didn’t make much sense so I start looking and that was in the early 80s at 100 Years of volage W Street journals because there were no good computers at the time I did everything by hand and I found out that Markus don’t move it random couple of years later I um I uh turned it into what then was called the neural network today you will call it the artificial intelligence make a story short I ended up to be managing director Goldman sax for many years uh doing all the market timing for the own Investments of Goldman Sach and after the crash of 2007 uh when uh Obama thought in his innocence that it would be too dangerous to take this huge positions um uh we had to close down a lot of funds and part Partners left and we started our own firm uh they left doing their own hedge funds and I’m the only one who continued so I have this firm that uses the uh now we would call it artificial intelligence that can tell about most assets we do like uh us bonds all the currencies the snps the European market gold silver crude oil natural gas exactly when there is a a market low when there’s a market top and how high a move can go and how low a move can go it sounds uh for newcomers it sounds strange because they think it’s connected to the news and we have been proven that it doesn’t um you can just calculate the computer can calculate if this move starts going up how high it goes how many weeks or months it takes in order to reach the top and we’ve been doing this now what is it almost 20 years supporting a lot of hedge funds and and Banks and institutions and also uh individual investors so Dr ner you it’s interesting that this started out as uh psychiatric research and it’s got applicability to markets so when we talk about Cycles um are Cycles universally applicable to just about any area of life in your research uh yes the uh the Cycles in uh in in climate there’s Cycles in earthquakes uh there Cycles in the in traffic uh we have clients that uh uh are very big in fashion and they want to know what the fashion is going to be the next two years because they LED man being manufacturers in in in Hong Kong so we look at the cycles of the last 100 years like you know if for men if the if it’s double breasted or single breasted or what the Pence looks like uh we do cycles for uh record companies they bring out uh new songs it’s important to bring it out in winter or in summer or in Spring it’s important if a man sings it and a woman SNS it there’s a lot of research going on in all these products that the average consumer has no idea about it on top of that you know the big firms that I don’t want to mention by name that uh have to know when to sign a contract to buy their beef because they sell hamburgers uh we have uh people who are in the uh business of uh of selling oranges so they have to make a contract and have to know if they sell now the oranges for the next two years next week or three months because the difference could be 10 50% uh so there’s a lot of research going into this now if you believe that things move at random then actually you cannot prove anything and and you don’t know what you’re doing uh because it’s all a gamble so there’s a whole of research uh in financial markets um and all the big players use that research and they convinced that things don’t move at random the problem with the small investor is that he listens to all the anchors on television who have no clue about anything and he gets just totally thrown off that there is such a science and he listens the whole day to the stories and the stories are always putting him the wrong foot for instance if when we have a low in Gold you don’t hear anything about gold but when gold is up already 90% out of the 100% it’s going up then suddenly the pickup oh gold is in the bull market and then it’s almost over and then the the small investor starts buying gold and then it crashes and then he wonders why he loses money and always the other way around well if you’re just tuning in my guest today is Dr Charles nener his website is Charles n.com you can get a 30-day free trial to his work and no credit card is required again the website Charles n.com so Dr n you just gave gold as an example uh you were on the program uh about five months ago and you suggested that there was more downside in the cycle but then um if you your Cycles pointed to uh an an uptrend an upcycle in gold and uh sitting now here we are five months later you were you were spot on so what do you see for gold moving ahead well we we sold gold about $100 higher than it is now I think in the high 2400s because the cycle topped if you go to the website you can see exactly how it topped and uh we could test the highs one more time but for the moment we’ve seen the high uh and now it’s a problem because now you know all everybody talks about the gold and now every time it moves up again the small investors going to buy but now the cycle topped a little bit and now we’re just going to we to stand aside waiting for the next cycle low which is going to be a while away so Dr ner uh the big headline uh this past week was that the US economy contracted and inflation uh pce as measured by pce heated up uh do your Cycles track where you think inflation’s going in the future and if so what do they tell you yeah well we started an inflation cycle of 30 years there’s a very clear cycle of 30 years there’s a we publish it also there’s a very clear cycle for the last 250 years of of interest rates so when the interest rates were like 1% or less on the 10 year and I was the early 2000 we warn people don’t buy any bonds I know it you know have seen lower bonds for the last 40 years but it’s not going to continue uh and it has led to catastrophe because people have been in bond funds so they cannot even get the money back and we’re going to have higher bond yields until the middle of the century at least and we expect them to to test the highs of uh of uh the uh mid 70s which was like 16 17 18% uh of course it goes in ups and downs so first of all uh we have seen a very nice up mov in the in the stock market we expect to see uh because the cycle B last weeks we expect to see one more up move we’ve seen a nice up move in the metals and now in a week or two weeks we expect to see a nice up move in in bounce so right now interest rates are not going higher um but longer term they’re going much higher so oh you ask me about inflation yeah inflation is going much higher I think the next low in inflation is going to be in the summer and then inflation should move higher so we have a what’s called a stack FL the economy is going to drop debt and the inflation is going higher well it certainly seems like stagflation is the outcome that we’re headed for and your Cycles seem to confirm that I want to go back and just revisit what you said you suggested that bond yields could go as high as we saw them in the 70s and that was you know mid mid to uper teens and you suggested that could happen over the next 20 years the cycle could be that long did I understand that correctly that’s that’s correct so if you’re an investor now and you’re uh in a 401k you’re in an irra you have your retirement money that you’re investing um what advice are you giving your subscribers to the extent you’re comfortable sharing that well if you watch our research then you have one more chance to get out of the stock market because we’re going up one more time um you have I would say you have one more chance to go out of the bond market when the move starts in a in a week or two weeks uh you have big lusters so uh it’s hard to say to get out of it because it’s it’s very difficult uh I think the bonds from since we sold them are down 50% or so so what are you going to do um you have to be a little bit more active uh otherwise things are not going to end well uh the dollar is losing a lot of his purchasing power in the end gold is going much higher the problem with gold is if you’re a long-term investor and that’s why I say I’ve seen this problem when someone on TV it goes like this if gold is like 2400 and I say long term we go much higher then people say I’m there in for the long term but then if it goes to 2200 I mean there for the long term once it’s 2100 they don’t sleep anymore and they sell out just before it goes up again so you really have to watch these things like I said if you want to know how the the experts and hatch FS are doing and approaching this please look at my website it’s not going to cost you anything for 30 days and see at least have an idea how you can approach the markets uh that’s all I can do uh you have to be more active otherwise you’re going to be in bad shape I mean I’m right now in Florida I see 80 85 years old packing my stuff when I go to the supermarket and they said what’s what’s going on over here well this is you know I thought had enough retirement but with this PRI for the prices I have to go back to work and soon a lot of older people have to go back to work because you know what they thought that they have is not enough to survive well my guest today is Dr Charles nener his website is Charles nen.com you can check out his work for free for 30 days no credit card needed I’d encourage you to check it out I’ll continue my conversation with Dr nener when RL radio returns stay with us welcome back to rla radio I’m your host Dennis tubergen I have the pleasure of chatting once again today with returning guest Dr Charles nener uh his website is Charles n.com and Dr n’s research U is research that I follow regularly uh he is a very bright guy he tracks markets and uh a lot of other things uh from the perspective of Cycles you can check out his work on his website free for 30 days again the website Charles n.com so let’s shift gears just just a little bit Dr ner I know that uh from you being out in the past that you track a lot of different Cycles uh another one being War cycles and when you take a look at what’s going on around the world geopolitical tensions are rising what do your War Cycles tell you about where we’re headed well the war Cycles started to my War cycle started in the Menan Empire about 3,000 years ago of course we have like the markets we have yearly Cycles quarterly cycle monthly cycles and the longterm Cycles they turned up and for your readers is maybe or your listeners is interesting to look for instance at the 100 years cycle every second decade of New Era there is a uh there is a a major cycle load that will say you know uh we had the first world war in 1918 that continue the second world war we had the uh the Napoleon War 100 years before we had the hapsburg but most of the wars were then in in Europe and if you go back you Google around this the the change of the century you always see the 100e cycle so I said you know in the second decade of the century Wars are starting again more Cycles are going up so we’re in big trouble and uh we we we’re going into major Wars over here um now the interesting thing is people will say it’s nothing we can do about it well the problem with Cycles is there’s not much you could do about it so what can you do so I’m like my example is you know after the winter comes comes the summer and then comes the winter it doesn’t change the only thing is when you know it you can buy you can buy a winter coat so I have people who are very involved in this and they look where they’re going to and what they can do about it uh but this is going to be a huge situation over here um and you know I don’t know how much people can can be can be involved and taken care of what to do um but we’re going to be in a in a big big situation with the with the war cycle that is certainly concerning uh let me let me shift gears a minute and go back to something we talked about in the first segment if I could you had mentioned that you think stocks probably have one more move up before we see a down cycle so if you could for our listeners describe what you think that looks like uh particularly when the down cycle starts when might that start and how low do you think stocks go well I don’t I don’t want to take sleep away from from from your listeners the cycles that cost the top in 1929 are going to be topping again um I have to look on website exactly what it is and I want to give it away so that’s a major major problem now we all know that we have a big problem over here we’re going to have a major war we’re going to have a major deficit crisis uh we’re going to have a major terrorist attacks within the United States caused by people and terrorists coming in through the uh to the Border over here um so we can figure out why why this is going to happen uh probably things happen that cannot think about uh we could not think about the virus situation before and everything will come together and you know we’re going a major major depression coming uh it’s all explained to my website so this is not something that oh we’re going to have some correction is going to have a life and death situation uh to stay afloat for people who uh who have some Investments so Dr Den when you say major depression are you forecasting that we will see something along the lines of the deflationary depression we saw in the 1930s is that what you’re suggesting yeah that’s what I’m suggesting and probably even worse so how long do you say this this when does this start and how long do you think it lasts well it how long it lasts I have have to work on that and when it starts I don’t want to give it away yet I don’t want to people to be too but if they look at my my website we show exactly how we calculate it and and uh slowly slowly they can get used to the idea I don’t want to throw these things out without people you know looking at the underlying research and lose their sleep at night so before we go back and and and V visit one more Market you made another uh rather uh concerning statement and that is that you believe there are more terrorist attacks coming uh how do you arrive at that conclusion um I have a lot of uh as you know is most of the time I live in Israel and I I hear a lot of things and um uh if you have a lot let’s let’s say you got a lot of people from Iran coming in you have a lot of Chinese coming in now Chinese cannot leave you China without the Communist party uh allowing you to leave you can’t leave over there so how did it get over here and be honest if if you will be a country that doesn’t like United States would you take advantage of the fact that you can send your people already in uh to the United States look what’s going on in the universities you think that’s by by coincidence that these people are calling for the end of the United States I mean it’s just happening you know we’re just watching it from day to day and nobody wakes up who are these people you know these people are not Americans and we continue to bring them in and if I would to be a Russian or Chinese or North Korea or or Iran I was say well you know let’s I don’t know if we need them now but let’s bring them in let’s put them in key positions and we’ll wake them up the sleeper cells whenever we need them so Dr ner you let’s go back to the the whole uh idea of your forecast of a depression how does someone survive what’s coming uh politically economically and investing Market you mentioned that you have to be active is that your solution well you know depends for small investors difficult big investors they buy gold uh there are companies that you transfer money to they buy uh physical gold they put it in their safe uh because something’s going to happen to the dollar they’re going to make it a digit digital dollar uh once sorry once it’s a digital dollar you have a big problem because let’s say uh you want to fly to to Spain on vacation and by the end of the year you want to fly I don’t know somewhere else they might say listen this is not good for the climate uh we don’t allow you to buy another ticket because they see it in digital dollar so you can’t even do whatever you want there’s a lot going on uh we saw from the situation with the with the virus that they they know how to control everything and once the dollar become a digital dollar your freedom is is totally gone so that’s a lot of big investors know exactly what to do uh a lot of my big investors they uh for 100,000 to $200,000 they get a visa to one of the islands in the Caribbean just in if the war starts over here they have somewhere to go again for the small investor it’s it’s it’s an impossible situation uh we know Mr zukerberg has whole underground situation where he’s going into if the if the war starts uh like I said but the average investor that still has some money is preparing himself I have people in the midwest that calculate exactly if there’s a nuclear war on on on the East Coast which way the wind is blowing and where they should go so there’s a lot going on and again I don’t want to worry the small investor because he’s stuck he cannot do much uh but uh big part of of of the investment public is preparing the M eles now the other thing that do was they’re preparing themselves for the big crash in the housing market again uh you would ask me how they preparing well like we did in 2006 uh we work at two stocks one is lar and well is to brought us and we just bought some out of the money longterm out of the money puts on those stocks and uh for inst I give you an example lar I don’t remember where it was it was 100 and it went to $2 and we loaded up on long-term puts and people made much more money that they lost on their on their home so they ways to uh to hatch the loss on your home because people don’t want to sell their home for emotional reasons uh but that all you have to watch our our our research and then we try to keep you safe as you can so Dr ner you’re you’re projecting that stocks will go low uh you’re projecting that real estate goes lower um are we in based on your research are we in this everything bubble where this deflationary depression that you’re forecasting is just going to wipe out the value of nearly every asset let me give you one more example if you go to a broker sorry you go to broker you says you know I like to invest in stocks it’s at a good time so the broker will tell you stocks go up average eight n% a year you probably heard that right right that’s based on the fact that if you draw a line on an angle of 9% from 1900 it goes up on the average % the problem is we’re about 90% above that line so that means is if you want to go back to that line you have to go down 90% And then you’re back on the average of 9% so to tell somebody it goes up 9% on the average is totally nonsense now there’s another thing that people can Google it’s called The Buffet indicator the buffet indicator looks at the uh the value of the stock market compared to the GDP and you see that is so high that it has been like this I think two times in history and every time it collapses so you have a objective idea if the market is expensive or not but I’m sure that most investors or people the fio don’t even know what the buffet indicator is so first of all you have to know if the market is expensive or not don’t only look at the price earnings which is already expensive look at these indicators and that’s why in the next rally all the big guys are selling out to the small guys that listen to the media says oh he go again the poll Market continues as it’s the last time that it goes up and you better sell into it well the clock says Dr n we’re going to have to leave it there there’s so much more to talk about we’ll have to have you back down the road my guest today has been Dr Charles nener his website is Charles n.com you can get a 30-day free trial to check out his work no credit card needed again the website Charles n.com Dr ner always appreciate your perspective always uh appreciate reviewing your research thank you for joining us today and love to have you back down the road I’m I’m I’m sorry that I had to be a bit negative but you know some things have to be said well I certainly appreciate you sharing your research and I know the listeners do as well we will return after these words welcome back to rla radio I’m your host Dennis tubergen and thanks to Dr Charles nener for joining us on today’s program in the first segment of today’s program I talked about the fact that ever since the US dollar became a fiat currency in 1971 we’ve been accumulating debt as a country I’m talking about the United States here we’ve been accumulating debt as a country and the amount of debt that we are accumulating is growing exponentially in 1971 there was less than a trillion dollars in debt we now have about $35 trillion in debt and in the first segment I talked about the fact that really there’s only two Alternatives one we either stop accumulating debt cold turkey and we deal with a deflationary environment that emerges as a result or two we continue to accumulate debt we paper over the debt problem with newly created currency and we end up with a highly inflationary or hyperinflationary environment now I mentioned in the first segment also that history is loaded with examples of politicians continuing to create currency to the point that the currency is destroyed or at least severely damaged wart Germany after World War I France in the 18th century twice the Roman Empire colonial America those were all examples that I gave you it’s not as often that politicians will stand up and proactively address the problem for one simple reason when you say we’re going to stop currency creation when you say we are going to balance the federal budget so we don’t have to create currency there’s a lot of economic pain that follows such a bold decision but it is happening now at one place in the world where is that place you might wonder it is Argentina newly elected president habier Malai in Argentina ran for office on a platform of balancing the budget he was seen at campaign rallies with chainsaws to illustrate that he was going to cut spending within nine weeks of taking office president Malai balanced the budget how did he do that not really rocket science he slashed spending across the board when Malai took office inflation in Argentina was out of control inflation was officially running at almost 300% annually now inflation is cutting back Argentina’s monthly inflation rate was 25.5% in December 20.6% in January and 13.2% in February those are admittedly still very big numbers those are very economically painful numbers however the good news is is in two months the inflation rate has been cut almost in half now Malai stating the obvious laid out his strategy to get inflation under control he said quote if the state does not spend more than it collects and does not issue money there is no inflation this is not magic end quote Malai said quote if this state does not spend more than it collects and does not issue money there is no inflation this is not magic end quote and it appears that his strategy is beginning to work now incidentally the economic principle that Malai outlined is not unique to Argentina it is universally applicable to any government that issues money when you issue money when you create currency from thin air you get inflation it’s that simple now Malai is making progress but the progress is not coming without economic pain Malai knows that as bad as the pain might be presently from austerity from budget cuts it’ll be a lot less painful now than if they keep kicking the proverbial can down the road and have some future politician deal with this reactively now in the news just a week ago was Malai celebrating the first budget surplus for Argentina’s government since 2008 Malai called it an historic achievement in the first quarter of 24 Argentina recorded a budget surplus which is the equivalent of about 400 million that’s about 0.2% of gross domestic product Malai to achieve this goal laid off thousands of government workers and he warned them at the time of their layoffs quote do not expect a way out through public spending if we don’t have the monthy we’re not going to spend it now there is deflation starting to emerge there are protests starting to emerge in Argentina this will not be without economic pain univ University students unions opposition parties are staging marches to protest cuts to public education to research and to science in fact one of the directors of the University of buus arys said that at the rate at which they’re funding us we can only function between between two and three more months this is not without Fallout but if Malai and Argentina can stay the course the policies will bear fruit after a painful period of deflation and Argentina may just have a chance to get back to its former glory at one time Argent was one of the wealthiest countries in the world with buus Aris having the nickname Paris of South America and that of course all changed as Argentina became more socialistic now I’m running out of time for today’s program however let me remind you that the May special report is the probate avoidance guide happy to get you a complimentary copy of it all you need to do is visit request yourport tocom the website again request report.com just let me know where to mail that report as well as the bonus information and I will be very glad to do so again the website request report.com that’s all for me this week have a great week