PODCAST · business
The Lara-Murphy Report
by The Lara-Murphy Report
Building the 10%
Episodes
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Episode 89: The Fed Just Lost a Trillion Dollars--Should We Care?
Bob and Carlos discuss a recent Mercatus Policy Brief that documents how rising interest rates have caused the Fed to lose a trillion dollars in the value of its assets, and is now technically insolvent. Does it matter?
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Episode 88: Is the United States Hopeless at This Point?
Prompted by an email, Bob and Carlos acknowledge that yes, things look pretty bleak right now, both financially and culturally. But there is still cause for hope. The worst thing to do right now would be to give up.
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Episode 87: Is the US in a Recession or Not? Making Sense of the Numbers
Bob and Carlos discuss the oddities in the official numbers, which show low unemployment but also low labor participation, and how the statistics don't match their personal observations.
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Episode 86: The Fed Is Officially Bankrupt--Should We Care?
Bob and Carlos discuss a recent article in The Hill, which explains that rising interest rates have rendered the Fed technically insolvent.
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Episode 85: How Is Today's Economy Like the 1970s?
Bob asks Carlos to recount his own financial struggles as a young businessman in the late 1970s, when price inflation and interest rates skyrocketed. This painful episode ultimately led Carlos to discover Austrian economics.
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Episode 84: Is a Recession Coming? Listen to the Austrians
Carlos and Bob discuss the views of some prominent economists on whether a recession is baked into the cake. Contrary to even free-market members of the Chicago School, the Austrians know it's not just a matter of money supply growth. During the boom, there were real malinvestments, and these…
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Episode 83: Will Inflation and Yield Curve Hurt Bonds and Ruin the Case for IBC?
Carlos and Bob discuss inflation and whether it spells the doom of life insurance, and thereby ruins the case for IBC. They conclude that rising interest rates per se don't adversely impact life carriers, because of asset-liability matching. Moreover, when you practice IBC, you're not "investing…
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Episode 82: How to Weather the Coming Financial Storms (Redux)
Carlos and Bob revisit their September 2016 video presentation in which they lay out a 3-prong strategy to protect your household from economic calamity.
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Episode 81: Return of the IBC Jedi
After a long hiatus, the Lara-Murphy Show is back! Bob and Carlos relay what's been happening in their personal lives and the world of IBC, and discuss the spiritual war that is currently ramping up.
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Episode 80: The Hidden Forces Behind Our Slide Into Tyranny
In their monthly publication the Lara-Murphy Report, Carlos and Bob have each started a series investigating the history of certain groups operating behind the scenes to influence social and political trends.Mentioned in this episode and other links of interest: Information on the Lara-Murphy...
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Episode 79: Does Fed Inflation Threaten IBC?
In the wake of the coronavirus, the Federal Reserve has engaged in unprecedented actions, pumping $2.5 trillion into the financial system in just two months. Many readers ask: Does this make IBC a bad idea? After all, it relies on a dollar-denominated asset (life insurance). Bob and Carlos…
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Episode 78: On the Fed’s Emergency Actions to Stem Coronavirus Panic
Carlos and Bob critically assess the Fed's $1.5 trillion repo operations, allegedly designed to stem market panic over the coronavirus. Bob observes that even Walter Bagehot's famous dictum said central banks should lend freely *at a high rate of discount*.Mentioned in this episode and other…
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Episode 77: The 2020 IBC Think Tank and Outlook for the Future
Carlos and Bob end their hiatus and return to the airwaves, fresh from the 2020 IBC Think Tank in Birmingham. They summarize the talks they gave at the event, including some exciting news about the Nelson Nash Institute's forthcoming project.Mentioned in this episode: The CBO's 2019 Long Term...
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Episode 76: The Trump Tax Reform’s Impact on Charitable Giving, And Beto’s Threat to Churches
Bob and Carlos discuss the 2017 Tax Cut and Jobs Act's impact--especially because of the boost in the standard deduction--on incentives to make charitable contributions. Then they discuss Beto O'Rourke's pledge to remove the tax exempt status of churches and other organizations that don't endorse...
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Episode 75: The Psychology and Economics of Recurring Financial Crashes
As the U.S. authorities once again pivot to begin another round of cheap credit, Carlos and Bob reflect on the deception--both deliberate and unwitting--involved. Part of the problem is that younger investors haven't lived through a crash, but even the old timers are caught flat-footed if they...
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Episode 74: Carlos Lara Explains His Absence, and How He’s Back in the Saddle
Bob and Carlos return from their summer hiatus to bring listeners up to speed. Carlos had a medical issue that occurred in June, which he explains in the episode. After describing what happened, Carlos ties his experience to the broader condition of medical care in the United States: it's...
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Episode 73: Dr. Keith Smith Tells Doctors and Patients How to Secede From the Broken Health Care and Insurance System
While this was an interview Murphy conducted on his own podcast, it is relevant to Lara-Murphy Show listeners. Keith Smith is an anesthesiologist and founder of the Oklahoma Surgery Center and the Free Market Medical Association. His group is doing for health care what the Nelson Nash Institute…
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Episode 72: IBC “Jumbo” Policies, Trusts, and the Estate Tax
Bob asks Carlos to elaborate on the changing estate tax laws and how that could affect long-term planning, even with the excellent tax advantages of IBC.Mentioned in this episode: The IBC Practitioner Finder.The audio production for this episode was provided by Podsworth Media.
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Episode 71: Shadow Banking and the Real Estate Market
Bob asks Carlos to discuss his April 2019 article for the Lara-Murphy Report. Carlos explains how "shadow banking" has become the dominant source of mortgage lending in the United States. He explains this trend and its implications for real estate investors.Mentioned in this episode: The business...
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Episode 70: IBC and the Business Owner, Part 3 of 3
Carlos and Bob finish their 3-part series explaining Austrian economics and IBC specifically for the business owner. The series is tied to the upcoming IBC Business Owner Seminar to be held on May 10, 2019, in Nashville, TN. In this episode, they discuss Carlos' typical approach to helping a...
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Episode 69: IBC and the Business Owner, Part 2 of 3
Carlos and Bob continue with their 3-part series explaining Austrian economics and IBC specifically for the business owner. The series is tied to the upcoming IBC Business Owner Seminar to be held on May 10, 2019, in Nashville, TN. In this episode, Bob explains the significance of the inverted...
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Episode 68: IBC and the Business Owner, Part 1 of 3
Carlos and Bob begin a 3-part series explaining Austrian economics and IBC specifically for the business owner. The series is tied to the upcoming IBC Business Owner Seminar to be held on May 10, 2019, in Nashville, TN. In this episode, Bob and Carlos discuss the Fed's recent guidance on its bond...
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Episode 67: The Economic Outlook for 2019
Carlos and Bob discuss the economic outlook for 2019, from the perspective of Austrian business cycle theory. The yield curve is close to inverting, and if it continues we should expect a recession by the end of 2019 or, failing that, almost certainly in 2020. There are two types of Fed…
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Episode 66: Getting Into the Minds of Federal Reserve Officials
Carlos and Bob discuss the Fed's actions with interest rates and its balance sheet, and how they are behind the recent stock market volatility. They also use media reports to get inside the minds of Bernanke, Yellen, and Powell.Mentioned in this episode: “How to Weather the Coming Financial...
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Episode 65: Should You Fully Fund an IBC Policy ASAP or Leave Room for a Windfall?
Carlos and Bob tackle a friendly bet that two listeners submitted. The controversy concerns two apparently conflicting goals: On the one hand, Nelson Nash says in BYOB that you should pay more against your policy loans than the insurance company requires, effectively buying more paid-up life...
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Episode 64: Why Is the Stock Market So Shaky?
Carlos and Bob reiterate their longstanding critique of Fed policy to help frame the recent plunges in the stock market. They explain that the Fed has painted itself into a corner and will have no choice but to continue with rate hikes.Mentioned in this episode: "How to Weather the Coming…
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Episode 63: Why Learn Austrian Economics?
Carlos and Bob explain to the average listener why it's important to learn at least the basics of Austrian economics. It's not the same as other free-market schools, and it's not the boring curves you remember from college.Mentioned in this episode: The next IBC Seminar for the General Public on...
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Episode 62: Why Not Just Pay Cash?
Carlos and Bob tackle a question from Twitter: Why is using IBC preferable to just "paying cash" for large purchases? This seemingly simple question actually raises many issues.Mentioned in this episode: The next IBC Seminar for the General Public on October 13, 2018 in Fort Worth, TX. Details at...
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Episode 61: Stumbling Blocks in Learning IBC
Carlos and Bob discuss some of the misconceptions or difficulties they had early on, which made them reluctant to embrace IBC.Mentioned in this episode: The next IBC Seminar for the General Public on October 13, 2018 in Fort Worth, TX. Details at IBCSeminar.com. Lara-Murphy Show episode 51. The...
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Episode 60: “Should I Take Out Multiple IBC Policies?”
Nelson Nash joins Bob and Carlos to explain why he encourages IBC users to establish a system of policies (rather than just one). The discussion covers several nuances of policy design.The sound engineer for this episode was Chris Williams. Learn more about his work at ChrisWilliamsAudio.com.
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Episode 59: Bob Murphy’s Speech at the Libertarian Party “Mises Caucus” Event
This is the talk Bob gave at the "Mises Caucus" event held on June 30, 2018, to coincide with the kickoff of the Libertarian Party's national convention, held in New Orleans this time.Mentioned in this episode: Tom Woods' speech to the Mises Caucus. Scott Horton's speech to the Mises Caucus.The...
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Episode 58: Central Bank Strategy and Trump’s Playbook for the Economy
Carlos and Bob review the status of the three leading central banks and rely on a report from the Treasury Secretary to help interpret and anticipate Trump Administration actions on bank regulation.Mentioned in this episode: Lara-Murphy Show episode 42: "Do the Feds Have a Plan to Unload the…
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Episode 57: Policy Loans: With Freedom Comes Responsibility
Carlos and Bob explain the mechanics of policy loans and then emphasize the importance of keeping track of them. Yes, you have the FREEDOM to never pay your loans back, but that might not be a WISE thing to do. Nelson Nash always stressed that you "play honest banker" when practicing IBC.The…
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Episode 56: The Case for IBC: Chapter 7, “Putting IBC Into Action”
Carlos and Bob finish their series, summarizing some of the material in Chapter 7 of their new book (co-authored with Nelson Nash). In this episode, they address a hypothetical business owner who loves IBC but thinks he doesn't have the cashflow to make it work. By cleverly using an already...
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Episode 55: The Case for IBC: Chapter 6, “Lessons From History”
Carlos and Bob continue their series, summarizing some of the material in Chapter 6 of their new book (co-authored with Nelson Nash). In this episode, they explain why Whole Life used to be a staple of the average American's financial plan, but then fell out of favor. They also describe how...
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Episode 54: The Case for IBC: Chapter 5, Part II, “The Economics of IBC”
Carlos and Bob continue their series, summarizing some of the material in Chapter 5 of their new book (co-authored with Nelson Nash). In this episode, they address typical questions such as, "If you guys are worried about a dollar crash, why would I put my money in life insurance?"Mentioned in…
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Episode 53: The Case for IBC: Chapter 5, Part I, “The Economics of IBC”
Carlos and Bob continue their series, summarizing some of the material in Chapter 5 of their new book (co-authored with Nelson Nash). However, because Chapter 5 contains so much material, they are breaking the treatment up into two separate episodes. In this Part I, they address questions such…
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Episode 52: The Case for IBC: Chapter 4, “Becoming Your Own Banker”
In this special episode, Nelson Nash himself joins Carlos and Bob, to discuss the chapter from their jointly-authored book--The Case for IBC--that draws directly on the material that Nash used in his live presentations to the public. Even for those who are quite familiar with Nash's work, you'll...
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Episode 51: The Case for IBC: Chapter 3, “Banking and Life Insurance: Process vs. Platform”
Carlos and Bob continue the series covering their new book (co-authored with Nelson Nash). This chapter explains how the process of Infinite Banking rests on the platform of a dividend-paying Whole Life insurance policy. They also mention the standard features of a WL policy that make IBC...
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Episode 50: Murphy Debates Climate Change at Yale Political Union
On February 27, 2018, Bob was the guest at the student-led Yale Political Union, debating the resolution, "The free market can solve climate change." A member of the audience captured the audio on his phone; we are presenting here Bob's opening statement, his Q&A, and his summary statement. (We…
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Episode 49: The Case for IBC: Chapter 2, “The ‘Perfect Investment’”
Carlos and Bob continue the series covering their new book (co-authored with Nelson Nash). This chapter lists the attributes of a hypothetical "perfect investment," and explains how various assets fare.Mentioned in this episode: The Case For IBCThe sound engineer for this episode was Chris...
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Episode 48: The Case for IBC: Chapter 1, “Thinking Like a Business Owner”
Carlos and Bob begin their series of going through their new book (with Nelson Nash), chapter by chapter.Mentioned in this episode: The Case For IBCThe sound engineer for this episode was Chris Williams. Learn more about his work at ChrisWilliamsAudio.com.
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Episode 47: Orwell, Yield Curve, and New Book!
Carlos and Bob discuss their presentations at the recent IBC Think Tank. Plus they have a big announcement!Mentioned in this episode: The Case For IBCThe sound engineer for this episode was Chris Williams. Learn more about his work at ChrisWilliamsAudio.com.
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Episode 46: What the fork?! Bitcoin vs. Bitcoin Cash
Description: In this episode, Bob flies solo to explain the controversy over solving the congestion problem in Bitcoin.Mentioned in this episode: The IBC Seminar for the general public, Feb. 10, in Birmingham Bob Murphy's co-authored guide to Bitcoin Bitcoin vs. Bitcoin Cash debate on Tom Woods...
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Episode 45: The GOP Tax Plan: Theory and History
Carlos and Bob discuss the basic logic of "tax reform," and then critically analyze the GOP proposals. They cover some important differences between the House and Senate bills, and point out that Democrats railing against "tax giveaways to the rich" might have a point.
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Episode 44: Is There a Real Estate Bubble?
Carlos and Bob extend their warnings about "loose" monetary policy to the real estate market. Remember, the Austrians warned about the last housing bubble in real-time. There are several reasons to think that the "hot" market right now is in trouble.
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Episode 43: IBC BEST PRACTICES: Policy Loans and Tax Implications of Surrender
Carlos and Bob reiterate the advantages of "becoming your own banker" through the use of policy loans, but they also point out the importance of paying back the loans (in most circumstances). In particular, they warn about the potential tax implications that occur if you surrender a...
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Episode 42: Do the Feds Have a Plan to Unload the Fed’s Bonds?
Bob talks to Carlos about his research on the Federal Reserve's plans to shrink its balance sheet, and the possible connection to proposed regulatory changes that would encourage financial institutions to take on Treasuries and mortgage-backed securities.Mentioned in this episode: How Privatized...
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Episode 41: Are There Any Negatives to Positive Thinking?
Bob talks to Carlos about his research on "positive thinking," motivational speakers, self-help gurus, and other related themes. There is much truth and value in this movement, but there's also a potential dark side.Information on the July Nashville Events: http://www.threeccorp.com/Home.aspx
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Episode 40: The Pending DOL Ruling on Financial Professionals
Bob asks Carlos to discuss his findings regarding the new Department of Labor regulations on financial professionals that kick in on June 9, which concern those who act as a "fiduciary" for clients.
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Frequently Asked Questions
How many episodes does The Lara-Murphy Report have?
The Lara-Murphy Report currently has 89 episodes available on PodParley. New episodes are automatically indexed when they're published to the podcast feed.
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Building the 10%
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The Lara-Murphy Report has 89 episodes. Check the episode list to see recent publication dates and frequency.
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