Matthew Spositi is an aspiring trader, Austrian Economic enthusiast, entrepreneur, and founder of New Millennium Wealth. My goal is to help individuals get out of the rat race and become financially free, by showing you every step of my journey, and by sharing all of the knowledge I have accumulated about trading, investing, markets, and economics over the past 5 years.
Episodes
Sunday Feb 21, 2021
From the Archive: Ep. 29 - Income Inequality Explained (Plain & Simple)
Sunday Feb 21, 2021
Sunday Feb 21, 2021
Income inequality is a topic that has been talked about a lot in the past, and will continue to be talked about a lot in the future as the gap grows. But here’s the thing, very few people really understand what causes it.
The truth that nobody wants to admit or talk about, is that income inequality is caused largely by how you think about money, because how you view money determines how you treat it.
If you have a poverty mentality, then you will not save or invest your money, and you will effectively spend every dime you make.
You won’t know how to attract money, you won’t know to recognize the opportunities that are all around you, and you will blame the fact that you don’t have or make a lot of money on external factors, instead of taking responsibility for how your life has turned out.
Whereas, if you have a wealth mentality, you will believe that opportunity is all around you, and you will always be looking for it. You will manage your money well by spending less than you make, saving and investing the rest.
You will know how to attract money to you, and you will recognize that you have control over your own life, and that the outcome/destiny of your life is determined by you, and you alone.
But here’s the thing, the fact that a person is rich (i.e. has a lot of money) doesn’t make them wealthy, and conversely, the fact that a person is broke (i.e. has very little, to no money) doesn’t make them poor.
You see being poor or being wealthy, has nothing to do with how much money you have or don’t have, but has everything to do with how you think about and handle your money.
This is the real cause of income inequality. It is what determines who ends up being rich (i.e. having lots of money) and who ends up being broke (i.e. having very little, to no money).
We talk about all of this and more in today’s episode.
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Sunday Feb 21, 2021
Sunday Feb 21, 2021
Is it just me, or is life constantly getting more and more expensive, and no matter how much money you make you never quite seem to have enough?
Have you ever felt like the system is set up to benefit the rich and the wealthy, not the poor, despite the rhetoric from politicians on both sides?
Look, this is a very divisive topic that gets brought up all the time, but few people really understand what’s actually going on.
So, in today’s episode I’m going to shine a light on this topic and explain what’s really happening.
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Sunday Feb 21, 2021
Quick Update About What's Going On This Week
Sunday Feb 21, 2021
Sunday Feb 21, 2021
So, if you're aware of whats going on in the news at all this week, then you should know that a massive winter storm hit the Midwest and Texas, and while many of the other states fared just fine through this blizzard, Texas on the other hand did not.
Texas's power grid ended up failing leaving millions of people, myself and my family included, without power and in some cases without water for several days straight.
So suffice to say, I'm not going to be recording any episodes for this week.
I will however, pick out two episodes from the archive that were really good for you guys to listen to this week.
Next week, I will definitely be doing an episode describing in detail what happened to my family and I, and what happened to Texas's power grid.
I Hope you guys have a great week! Stay warm out there!
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Sunday Feb 14, 2021
Ep. 84: What’s Going to Happen to Your Money?
Sunday Feb 14, 2021
Sunday Feb 14, 2021
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In the previous episode, I explained inflation, what it is, and what it isn’t.
However, I never shared my insights on what may happen in the future with all the money being created out of thin air.
With all the theories out there as to how the money printing is going to affect the economy and our savings/investments, in today's episode I will provide my thoughts on these theories and explain the implications.
So, what’s going to happen with your money?
Listen to find out.
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Sunday Feb 14, 2021
Ep. 83: Your Friends Are Wrong About Inflation
Sunday Feb 14, 2021
Sunday Feb 14, 2021
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If you’ve ever gotten into a debate, or simply have discussed inflation on social media (which is a cesspool of toxic behavior these days) with your friends, then you’ve probably heard about the velocity of money, or how inflation is a general increase in prices.
You see in the 21st century, most people just automatically accept what they hear about inflation, and economics in general, as accurate and true, and rarely ever question the prevailing narrative.
But are these concepts correct? Is inflation a general increase in prices? Does the velocity of money really cause inflation?
In today’s episode, we do a deep dive into these concepts and dispel a ton of these myths that are out there muddying the waters.
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Sunday Feb 14, 2021
Sunday Feb 14, 2021
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One reality that the unprecedented Reddit/GameStop short squeeze alerted more people to is the major disconnect between the ballooning stock market and the actual economy.
A stock market bubble is a significant indicator of the boom phase of the boom-bust economic cycle that we have grown accustomed to over the past several decades.
Many, mostly on the left, blame free market capitalism for economic cycles, however, boom-and-bust cycles are not an inherent feature of a market economy.
Austrian school economists have for a century convincingly argued that business cycles are a result of monetary distortions in the economy created by artificial, or fiat, money creation and the false credit expansion that results from it.
This article was published at the Mises Institute, by Bradley Thomas.
Sunday Feb 07, 2021
Ep. 82: GameStop And the Financial Revolution
Sunday Feb 07, 2021
Sunday Feb 07, 2021
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I’m sure you’ve all heard about the whole GameStop debacle in the stock market by now, as it’s been spreading through the internet like wildfire.
But, do you really understand the consequences that are more than likely coming as a result of what I’m calling a, financial revolution?
In today’s episode we talk about the basic economics involved, the political implications, and what short selling is and the benefits it offers to the overall market.
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Sunday Feb 07, 2021
Ep. 81: How Libertarians Got Tricked into Initially Supporting the Lockdowns
Sunday Feb 07, 2021
Sunday Feb 07, 2021
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The other day I was listening to a libertarian podcast, where the host admitted to being initially wrong about the virus.
You see, the host like so many other, what I like to call liberty-oriented people, initially believed that we needed to lock-down and self-isolate for a while in order to get rid of the virus, and/or prevent the hospitals from being overrun.
Thankfully, overtime he realized that he was in his own words “dead wrong” and that the virus, while being a real virus that has legitimately killed people, is ultimately nothing that most people need worry about.
Ever since then, he has been a huge voice against the lock-downs and the COVID hysteria.
But how did he, like so many other liberty-oriented people, get suckered into this scam?
We’ll be talking about this and much more in today’s episode.
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Sunday Feb 07, 2021
Liberty Informant: Costs Must Be Weighed Against Benefits
Sunday Feb 07, 2021
Sunday Feb 07, 2021
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One of the first lessons in an economics class is every action has a cost. That is in stark contrast to lessons in the political arena where politicians virtually ignore cost and talk about benefits and free stuff.
If we look only at the benefits of an action, policy or program, then we will do anything because there is a benefit to any action, policy or program.
COPYRIGHT 2020 CREATORS.COM
This article was published at Intellectual Takeout, by Walter E. Williams.