1815 FBF: Jim Norman, Economic Warfare & The Oil Card with Journalist and Editor for Forbes & Business Week
Today's Flash Back Friday was first published on Feb 2, 2015.
In today\u2019s introduction to Creating Wealth, Jason records his intro section just ahead of the NFL Super Bowl XLIX in Arizona. Jason postulates on a variety of property markets around the U.S. as he prepares to make another purchase himself, speaks on over-diversification, and brings some great insight into deflation.
Jason\u2019s guest today is Jim Norman, author of The Oil Card. This is Jim\u2019s second appearance on the Creating Wealth show. Jim is a veteran business journalist and energy reporter.
Key Takeaways:
Jason's Editorial
2:33 \u2013 What the heck is happening with oil?
4:58 \u2013 One of Jason\u2019s biggest mistakes in real estate is over-diversification.
9:13 \u2013 Always important in any business to consider the life time value of a customer.
13:56 \u2013 Governments hate deflation and will do everything they can to stop or delay it from happening.
Jim Norman Interview
18:30 \u2013 Jason introduces Jim Norman and they talk about his book, The Oil Card.
23:15 \u2013 It\u2019s much easier to move oil prices around and manipulate them than any other commodity.
30:05 \u2013 Is oil really only worth $3 a barrel? Jim clarifies.
36:00 \u2013 It takes a while for economic warfare to succeed.
39:10 \u2013 Jim talks about whether Putin will be a threat or not.
45:20 \u2013 Prices can fall and remain long for a long time, especially in places like Houston.
53:15 \u2013 Jim doesn\u2019t think the drop in oil prices is why things are cheaper. He believes it\u2019s also due to technological advancements.
56:48 \u2013 It\u2019s in the government\u2019s favor to have inflation. According to Jim, all roads lead to inflation.
Tweetables:
\u201cFor oil prices, this is a political price, it\u2019s not a fundamental price.\u201d
\u201cDo you want jobs in the US or do you want low cost products?\u201d
Mentioned In This Episode:
The Oil Card by James R. Norman
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