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’s 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’s guest today is Jim Norman, author of The Oil Card. This is Jim’s second appearance on the Creating Wealth show. Jim is a veteran business journalist and energy reporter.

Key Takeaways:

Jason's Editorial

2:33 – What the heck is happening with oil?

4:58 – One of Jason’s biggest mistakes in real estate is over-diversification.

9:13 – Always important in any business to consider the life time value of a customer.

13:56 – Governments hate deflation and will do everything they can to stop or delay it from happening.

Jim Norman Interview

18:30 – Jason introduces Jim Norman and they talk about his book, The Oil Card.

23:15 – It’s much easier to move oil prices around and manipulate them than any other commodity.

30:05 – Is oil really only worth $3 a barrel? Jim clarifies.

36:00 – It takes a while for economic warfare to succeed.

39:10 – Jim talks about whether Putin will be a threat or not.

45:20 – Prices can fall and remain long for a long time, especially in places like Houston.

53:15 – Jim doesn’t think the drop in oil prices is why things are cheaper. He believes it’s also due to technological advancements.

56:48 – It’s in the government’s favor to have inflation. According to Jim, all roads lead to inflation.

Tweetables:

“For oil prices, this is a political price, it’s not a fundamental price.”

“Global demand is not what it needs to be to soak up all the vast industrial capacity that’s been created globally.”

“Do you want jobs in the US or do you want low cost products?”

Mentioned In This Episode:

The Oil Card by James R. Norman

 

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