These States Are Dying While These Cities Are About to Boom | Grant Cardone
1Digest
This podcast episode features Grant Cardone, a real estate and business expert, discussing the current political climate and its impact on the economy, real estate, and wealth creation. Cardone expresses his frustration with the direction of the country and how it affects his personal finances. He criticizes political decisions that he believes are detrimental to business and investment, particularly in New York City and California, leading him to invest in Florida instead. Cardone argues that high interest rates are hindering homeownership and creating an artificial housing shortage, blaming the Federal Reserve for intentionally keeping rates high to consolidate the banking system. He expresses concerns about the political agenda and its potential consequences, including the possibility of a future militia and the destabilization of the country. Cardone emphasizes the need for wealth education, arguing that financial literacy alone is not enough. He criticizes the 401(k) and IRA as scams perpetuated by banks and encourages listeners to consider self-directed retirement accounts. He advocates for a flat tax system with minimal federal income tax, highlighting the UAE as a model for economic growth due to its low taxes and pro-business environment. Cardone shares his insights on the best places to invest in real estate, highlighting Florida, Texas, and other states with favorable economic conditions. He reflects on the best and worst parts of having money, emphasizing the freedom and independence it provides while acknowledging the constant scrutiny and pressure. He discusses his approach to generational wealth and education, believing that practical experience is more valuable than college in many cases. The speaker also shares their personal experiences with drug addiction, going to college, and starting a bad business, emphasizing the importance of learning from mistakes and making informed decisions. They discuss their approach to managing their children's finances, emphasizing the importance of tax benefits and empowering them with financial decision-making skills. The episode concludes with a discussion about the upcoming election, expressing skepticism about predictions and highlighting concerns about potential election irregularities. The speaker emphasizes the importance of voter turnout and the need for greater awareness about political issues.
Outlines
The Political Climate and its Impact
The podcast begins with a discussion about the current political climate and its impact on the economy, real estate, and wealth creation. The host expresses his frustration with the direction of the country and how it affects his personal finances.
Grant Cardone Joins the Show
Grant Cardone, a real estate and business expert, joins the show and shares his perspective on the current political climate and its impact on business and investment.
The Impact of Political Decisions on Real Estate
Cardone discusses the impact of political decisions on the real estate market, particularly in New York City and California. He explains how these decisions have driven him to invest in Florida instead.
Interest Rates and the Housing Market
The conversation shifts to interest rates and their impact on the housing market. Cardone argues that the current high interest rates are hindering homeownership and creating an artificial housing shortage.
The Political Agenda and its Potential Consequences
Cardone expresses his concerns about the political agenda and its potential consequences, including the possibility of a future militia and the destabilization of the country.
Ideological Differences and the Future
Cardone shares his thoughts on the growing ideological divide in the country and how it affects his interactions with his neighbors. He believes that the current political climate is creating a sense of distrust and fear.
Wealth Education and Investment Strategies
Cardone emphasizes the need for wealth education, arguing that financial literacy alone is not enough. He criticizes the 401(k) and IRA as scams perpetuated by banks and encourages listeners to consider self-directed retirement accounts.
Taxes and Economic Growth
Cardone advocates for a flat tax system with minimal federal income tax, highlighting the UAE as a model for economic growth due to its low taxes and pro-business environment. He explains how he manages to pay minimal federal income tax through strategic investment in real estate.
Real Estate Investment Opportunities
Cardone shares his insights on the best places to invest in real estate, highlighting Florida, Texas, and other states with favorable economic conditions.
Personal Reflections and Generational Wealth
Cardone reflects on the best and worst parts of having money, emphasizing the freedom and independence it provides while acknowledging the constant scrutiny and pressure. He discusses his approach to generational wealth and education, believing that practical experience is more valuable than college in many cases.
Life Lessons and Upcoming Projects
The speaker shares their personal experiences with drug addiction, going to college, and starting a bad business, emphasizing the importance of learning from mistakes and making informed decisions. They discuss their approach to managing their children's finances and their upcoming projects, including a wealth conference in Miami.
Election Concerns and Voter Turnout
The speaker shares their perspective on the upcoming election, expressing skepticism about predictions and highlighting concerns about potential election irregularities. They emphasize the importance of voter turnout and the need for greater awareness about political issues.
Keywords
Wealth Education
Teaching individuals how to create, manage, and grow wealth beyond basic financial literacy. It encompasses strategies for investing, tax optimization, and building assets.
Unrealized Gains Tax
A proposed tax on the appreciation of assets, even if they haven't been sold. Critics argue it would stifle investment and economic growth.
Self-Directed Retirement Account
A retirement account that allows individuals to invest in alternative assets like real estate, offering more control and potential for higher returns.
Flat Tax
A tax system where everyone pays the same percentage of their income, regardless of their income level. Advocates argue for simplicity and fairness.
Pro-Business Environment
A business-friendly environment with low taxes, minimal regulations, and a supportive legal framework that encourages entrepreneurship and investment.
Ideological Divide
A growing gap in beliefs and values between different groups in society, often leading to political polarization and social unrest.
Housing Shortage
A situation where the demand for housing exceeds the available supply, leading to higher prices and difficulty in finding affordable homes.
Consolidation of Banks
A process where smaller banks are absorbed by larger institutions, leading to fewer but more powerful financial institutions.
Inflation
A general increase in prices for goods and services over time, eroding the purchasing power of money.
Q&A
What are some of the key political decisions that have impacted the real estate market in recent years?
Grant Cardone highlights the impact of political decisions on the real estate market, particularly in New York City and California. He cites tax increases, regulations, and judgments against prominent figures like Donald Trump as factors that have driven him to invest in Florida instead.
How do interest rates affect the housing market, and what is Cardone's perspective on the current situation?
Cardone argues that the current high interest rates are hindering homeownership and creating an artificial housing shortage. He believes that the Federal Reserve is intentionally keeping rates high to force bank failures and consolidate the banking system.
What are Cardone's concerns about the political agenda and its potential consequences?
Cardone expresses his concerns about the political agenda and its potential consequences, including the possibility of a future militia and the destabilization of the country. He believes that the current political climate is creating a sense of distrust and fear.
What is Cardone's perspective on the growing ideological divide in the country?
Cardone shares his thoughts on the growing ideological divide in the country and how it affects his interactions with his neighbors. He believes that the current political climate is creating a sense of distrust and fear.
What is Cardone's view on the role of education in creating wealth?
Cardone emphasizes the need for wealth education in America, arguing that financial literacy alone is not enough. He believes that Americans should be taught how to create wealth and invest their money effectively.
What are Cardone's thoughts on the 401(k) and IRA, and what alternative does he recommend?
Cardone criticizes the 401(k) and IRA as scams perpetuated by banks. He encourages listeners to consider self-directed retirement accounts, which allow them to invest in real estate and other assets.
What is Cardone's position on taxes, and how does he manage to pay minimal federal income tax?
Cardone advocates for a flat tax system with minimal federal income tax. He believes that lower taxes would stimulate the economy and encourage investment. He explains that he invests in real estate and utilizes tax deductions to minimize his federal tax liability.
What are some of the best places to invest in real estate according to Cardone?
Cardone highlights Florida, Texas, and other states with favorable economic conditions as promising locations for real estate investment. He believes that these areas will experience significant growth in the coming years.
What are the best and worst parts of having money according to Cardone?
Cardone believes that the freedom and independence it provides are the greatest benefits of having money, while the constant scrutiny and pressure can be challenging.
What is Cardone's approach to generational wealth and education?
Cardone believes that college is not always necessary and that practical experience is more valuable. He emphasizes the importance of teaching children how to create wealth and invest their money effectively.
Show Notes
Dave Rubin of “The Rubin Report” talks to Grant Cardone about which states are dying and which cities and states are the best investing opportunities; his thoughts on political decisions that hurt his finances; the reason why he pulled out of New York City real estate deals after Trump’s judgment; why there is no future for blue states like New York and California since businesses are flocking to red states, the business shift to Florida and how states like California are pushing people away; why New York and California might recover when enough people are fed up; how Kamala Harris’ housing policies may crash the housing market; how Cardone navigates business challenges in real estate markets; trolling Mark Cuban on Twitter over political and economic views; how Cuban’s stance on DEI and economic policies contradicts his capitalist image; Cardone’s belief that Cuban’s criticisms of Trump stem from personal resentment; how interest rates and inflation have worsened since Trump’s presidency; Cardone’s advice on not buying homes until interest rates drop below 4%; and how the U.S. banking system may be headed toward consolidation with the failure of smaller banks; how high interest rates prevent many Americans from owning homes; how the government doesn't understand the housing crisis, claiming there's no such thing as “affordable housing”; Cardone’s suggestion to incentivize apartment owners to rent vacant units; Kamala Harris' incorrect focus on grocery store prices and possible price controls rather than credit card monopolies; how financial indoctrination, not literacy, is the real problem holding Americans back from creating wealth; and much more.
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Table of contents
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