Avsnitt
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Everyone is talking about “The Big Reset.” Supposedly, the forces that be want the pandemic to break down all lot of the old ways of the world … thus opening up the opportunity to foist upon humanity a new vision. The only problem with all of that is that things just don’t break like you want them to.
What I’m hoping you’ll get out of this is two things:
First, whenever you hear someone talk about “The Great Reset” and how The Year of the Mask “changed everything,” I want you to remember that all this year did was reveal the strengths, weaknesses, and trends that were already at work.
The second is that, when it comes to “where” you do your business and what real estate markets you should invest your money, time, and energy into, The Great Migration is going to affect your decision-making … at least it should.
References & Links
LA Times — California population growth slowest since 1900 as residents leave, immigration decelerates:
https://www.latimes.com/california/story/2019-12-21/california-population-continues-to-decline-with-state-emigration-a-major-factor
Next10.or Report — California Net Domestic Migration and other Statistics
https://next10.org/sites/default/files/California-Migration-Final2.pdf
Weissman Center for International Business — New York Net Domestic Migration and other statistics:
https://zicklin.baruch.cuny.edu/wp-content/uploads/sites/10/2020/09/Paper-Series-Fall-2020-9-8-20.pdf
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Where Your Dad Used to Sit
An open letter essay on the small pubs and public houses across England, Scotland, Wales, Ireland, and Northern Ireland are more important than you know .... along with their brother bars and taverns in the US.
The government folks have no stake in the game, because they just don't understand. For them, the age of COVID — The Year of the Mask — is just another opportunity for political posturing. But you and I ... we have something to lose.
Give this episode a listen. Cheers.
Hat tips to:
Small Paul and the Driving Wheel.
Ray Charles singing a song by Stevie Wonder.
The poet Dylan Thomas.
The Cheers theme song by Gary Portnoy.
And the unknown folk pub singers captured anonymously on tape.
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Saknas det avsnitt?
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Going Broke With The Jones' — Episode 018
Podcast Notes and Outline.
Jones Act Intro Pre-recorded by Jeff as a MonologueHave You Ever Split a Cab or an Uber with a friend? If the Jones Act applied to Uber drivers, this would be illegal
Reasons we economists suck — the dismal science
What the heck is cabotage? Market DistortionsThe Devil Lives at the Margins — “Concentrated Benefits” & “Diffuse Costs”
Merchant Marine Act of 1920 — The Jones Act100 years ago
Introduced by Wesley Jones — the senior senator from Washington State
Hmmmm … and they build ships where? (hint: Washinton State!)
The Jones Act in a NutshellAll Ships Used for Cabotage
US BuiltUS OwnedUS FlaggedUS CommandedUS StaffedOther Related Issues
InsuranceSeaman RightsPort InspectionsEtc.Often confused with the Passenger Service Act of 1886 — Discuss the difference
Even NPR confused the issue in their podcast.
Jeff Introduces Guest Colin Grabow (GRAY-Bō)
Colin Grabow of the CATO Institute — Policy Analyst, Herbert A. Stiefel Center for Trade Policy Studies. He has a BA in international affairs from James Madison University and an MA in international trade and investment policy from George Washington University. He specializes in things like subsidizing sugar production and The Jones Act.
Welcome to the JeffEffect.
What did the Jones Act Attempt to Do?
Foster Shipbuilding in the US (Protectionism)To Maintain Domestic Fleet and Shipbuilding Capacity (National Security)Maintain an experienced Merchant Marine Workforce (Protectionism & National Security)Did it Succeed …. No, It Did Not — Jeff and Colin Discuss
There are currently less than 100 Jones Act Qualifying ships.
Commerce between states is negatively impacted.
How The Jones Act Got on My Radar
Thinking about opportunity for the local Economy — Why Apple Can’t Build Phones in Puerto Rico
Why Are US-built Ships So Darned Expensive?
The irony of Asia-Pacific Shipbuilding — Being destroyed in war required that it be rebuilt from scratch. Japanese industrial base was devastated during WWII. The Korean conflict occurred immediately after WWII. Both areas were reindustrialized after the conflicts. This appears to have facilitated the construction and recapitalization of shipbuilding in these two regions.Protectionism Breeds Complacency Every Time It’s Tried.There is not a single LNG Tanker, Heavy Project Ship, Heavy Cargo Ship, or Cruise Ship built in the US — Zero Qualify for The Jones Act.If ZERO qualify, what are we protecting?Anecdotes
Flying Cows of HawaiiRoad Salt in New JerseyLNG Triangle Trade — Russia/Massachusetts/PakistanOil in Houston Can’t Get to MarylandOther Ideas and Anecdotes from ColinComplacency Revisited
Transport companies that were not covered by the Jones Act have become competitive on the world stage.
US Airplane Manufacturers
BoeingGulfstream/General DynamicsTextron (Textron Aviation/Cessna)US Locomotive Manufacturers
GE Transportation/WabtecBrookville Equipment Corp.Electro-Motive/CaterpillarUS Semi-Truck and Trailer...
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Here is a rough outline of the topics in the podcast along with helpful links.
B2B, B2C, & D2C Pricing and Subscription Modeling to Maximize Revenue Growth
The ProfitWell Model
Financial Plugin for data analysis20% of the marketBasic Philosophies
3 Levers of Revenue Growth
Customer AcquisitionCustomer RetentionMonetizationAspects
PositioningPackagingPricingInteresting Topics
Price Differentiation
Raising AND Lowering
Detailed Segmentation (3 to 5 personas?) … I say “student” and “veteran” pricing examples.
Here is a link to the Van Westendorp Pricing Model on Wikipedia: https://en.wikipedia.org/wiki/Van_Westendorp%27s_Price_Sensitivity_Meter
Do You Believe in over-optimization for profit?
Over-optimization
Defensive optimization (Jeff cites American Airlines and Southwest Pennsylvania example)
Jeff hits his favorite punching bag of Gillette performing revenue optimization in the face of tech and cultural disruption
Lessons of COVID-19 Round-Up
A discussion of lesson learned since March relying on Patrick’s recent social content
Here is a link to ProfitWell: https://www.profitwell.com
Here is a link to Patrick Campbell’s Twitter feed which is where Jeff found him (good stuff): https://twitter.com/Patticus
Here is a link to the online eBook Patrick mentioned in the interview: https://www.priceintelligently.com/hubfs/Price-Intelligently-SaaS-Pricing-Strategy.pdf
BONUS CONTENT!
Jeff and Patrick talk about the economics of moving out of the “Big Cities”:
https://youtu.be/HpSuI5bMbzI
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The best ideas in the world are the ones that EVERYONE agrees on. But what’s crazy is that even those universally accepted ideas are things that we still struggle with. Why can’t we let go of the stuff that’s holding us back? Why can’t we even see it sometimes?
It all started with a guy selling cheese. Welcome to The JeffEffect.
Here are the links and references I mention in the show:
Gary Vee on Golden Handcuffs, this is a short video so watch the whole thing. But I pull the salient point from 1:30 through 2:20.
https://youtu.be/uDJUB2ZnBGA
Joe Rogan with Suzanne Santo starting at 3:45 mark. But I pulled the quote from 4:08 through 5:17 (“the money thing can trick you”).
https://youtu.be/7cfaTm8Lk8I
The story of the Camel Passing Through the Eye of the Needle: Matthew 19: 16-30
“The young man saith unto him, All these things have I observed: what lack I yet?”
https://www.biblegateway.com/passage/?search=Matthew+19&version=ASV
Buddhist Concept of Clinging — Buddha lived 2500 years ago.
Upādāna — clinging as the point of suffering
https://en.wikipedia.org/wiki/Upādāna
How to Catch a Monkey — can we let go? (sociology and primatology)
The video is poor quality and the narration is in French, but it proves an important point
https://youtu.be/IHdJVzYBBOU
The Invisible Gorilla — Selective Attention (psychology and anthropology). Watch this video and be amazed.
https://youtu.be/UtKt8YF7dgQ
I wrap up the cheese story.
Macy’s Stock Performance. Expand it so that you can see it for at least the last five years.
https://finance.yahoo.com/quote/M?p=M&.tsrc=fin-srch
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Tenino WA Prints It's Own Money Made of Wood
- The town of Tenino, Washington, made international headlines by printing its own currency — real money made of wood — during the Great Depression. When COVID-19 struck causing more economic harm to his town, Mayor Wayne Fournier and the City Council decided to take their economic future in hand and do it again.
International Media and the world are taking notice of small-town Tenino once again. They have printed money in an innovative way using antique technology that is, in some ways, more secure than high-tech digital currencies.
Meet the Mayor of Tenino- Mayor Fournier talked with Jeff about their rebel with a cause currency printing, short and long-term economic effects, the potential legal issues, and the future of economic development in Tenino.
Welcome to the JeffEffect.
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Is Bitcoin "money?" Is Cryptocurrency even legal? Is it safe? What about Facebook Libra? There are more questions than answers it seems. But if you are suffering from Bitcoin FOMO, are a die-hard Crypto-warrior, or just want to understand what all the fuss is about ....
.... Welcome to the JeffEffect.
Want more inside info?
Check out Episode 009 on Inflation & Deflation.
Also, Episode 004 is called "The Mystery of Money" and is one of my most popular episodes.
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Joe Rogan just signed a multi-year content licensing deal with Spotify worth 9-figures. This is the biggest Podcast deal so far, BY FAR. Does this deal make sense? Why is it worth so much to Spotify? Is this another Howard Stern boondoggle? Jeff answers all these questions and shows how it already is a HUGE win for Spotify, and a big loser for Apple.
Welcome to the JeffEffect.
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Jeff began his podcast journey just a few months ago. Turns out it's a lot of work ... and it CAN be a lot of fun and it CAN be profitable. So why do people and busiensses start podcasts?
Jeff interview Mark Asquith — CEO of podcast host Captivate.fm and the to guys talk about all of it.
Welcome to the JeffEffect.
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We are all getting barraged on TV, in Social Media, in our Email ... EVERYWHERE ... by syrupy ads from brands telling us that "We are in this, together." What a load of crap.
In this episode, Jeff grabs the mic and vents about this annoying trend and describes how this kind of opportunistic marketing might be well-intentioned, but can actually hurt your brand. It'a ore of a rant, actually.
Welcome to the JeffEffect.
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If you listened to Episode 007 and Episode 009, you MIGHT be thinking that "Conservative Market Economics Jeff" has been abducted by aliens and replaced by a government-loving Keynesian fan-boy.
NOT True!
Climb off that ledge and give this episode a listen because there is a method to Jeff's seeming madness. Welcome to the JeffEffect.
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This is the Episode I promised you!
As the illness part of the coronavirus COVID-19 starts to come under control, you are about to hear the media talking head personalities breathlessly pontificate about what economic harm comes next. One thing is for certain — they will try to have it BOTH ways. They will have TONS of experts on this or that. Some will say we're in for a recession. Others will say there is a coming inflation catastrophe. And two years from now they will only remember who was right as revisionist proof that they were right all along.
Bull-crap. This edition of the podcast lays out both Inflation AND Deflation and tells you what to expect ... really.
Welcome to The JeffEffect.
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On Monday, April 20th, 2020, the news media exploded with breathless announcements and crazy click-bait headlines — Oil was selling for LESS than zero. In fact, at one point it was reported that the "price" of oil was selling from negative $37 per barrel.
Can you imagine it?
Turns out, it just wasn;t true. Never was. But a bunch of speculators lost their shorts BETTING in the futures market. Let's see If Jeff can explain.
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Holy crap boys and girls, it's raining cash! The Federal Reserve and Treasury are making money out of thin air to help us survive this darn COVID-19 crisis. All of you have questions. "Will this cause inflation?" "How can you just print money?" "If we CAN just print money, then why do we need taxes at all?"
Well, the answers all revolve around Macro Economics and the Money Supply. I'm not saying I agree or disagree, but maybe I can answer your questions and help you understand the world a little better.
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I had no intention of making this podcast. But, in the current crisis I know a lot of people who are laid off, fired, furloughed ... call it what ever you want. They do not have a job. I've been there. You need to act now in real, practical ways to cut expenses and generate some cash. Here are a few real, honest, practical tips.
You can do this.
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I am one of the best people on the planet to help you understand employment and unemployment right now ... at this particular point in history. I have been here before AND I have the education to back it up. All thos enumbers that the media is throwing at you? 99% of is BS guessing from talking head no-nothings. Seriously. If you want to try to understand where we are now, where we may be going, how all that matters, and what YOU should be looking for, give this podcast a listen.
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You think you know everything about that money in your pocket or in the bank? You probably don't know as much as you think you do.
Jeff's getting a TON of questions on how the current COVID-19 Coronavirus crisis will impact all of us ... not just from a health perspective, but socially, financially, and economically. But we can't talk about things like fiscal stimulus, bailouts, inflation, and the job market until we understand money and fiat currency.
This topic is going to make EVERYONE a little angry. Sounds like fun, so let's get to it.
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I have worked on my own, remote, for more than five years now. The first year was kinda rough. Some customers and friends gave me advice here and there, but the rest I had to figure out on my own.
You are not alone. But you have to keep your head straight. Here's how I did it to keep myself productive and sane during year 1 of working from home.
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I know ... the world is full of news with viral headlines (literally) blaring and screaming at us from all around. But Bill Withers dies yesterday and it would be a terrible thing if we didn't stop for a moment and tip our hat to a man who shaped the soundtrack of our lives in a meaningful way.
I thinks it's worth ten minutes of our time, don't you?
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The world is ful of people with advanced degrees, tons of experience, and lots of specialized knowledge. Most of them want to be helpful. But unfortunately, a lot of the time they are horribly tragically wrong.
You need something more to make good decisions in the chaos. Here's a story to make the point.
