Gary Johnson Unplugged
Libertarian presidential nominee and former Governor of New Mexico discusses his campaign and plans to end the Fed and taxes.
Libertarian nominee and former Governor of New Mexico talks about the 2012 Election, the future of monetary policy and why he's running for President.
It’s time for another episode of Stansberry Radio, the show that’s too loud for radio. Here are your hosts, Porter Stansberry and Aaron Brabham.
Aaron Brabham: Welcome to another episode of Stansberry Radio. I’m Aaron Brabham. I have half my cohost today, Porter Stansberry. Porter, you’re near your deathbed right now, but thank you for showing up in the hot seat.
Porter Stansberry: My kids poisoned me. My infant has hand, foot, mouth, and I came down with it last night. It’s brutal.
Aaron Brabham: Another one of the joys of having kids.
Porter Stansberry: Ugh.
Aaron Brabham: Well, today we’re interviewing libertarian presidential candidate and the former governor of New Mexico, Gary Johnson. He’ll be coming up in a few minutes. Porter, let’s get into a couple of opening topics before he joins us. We have a lot of feedback coming in, which we love to hear, and it’s not all hate mail, which is actually a nice, pleasant surprise.
Porter Stansberry: What’s our Arbitron say we’re up to now?
Aaron Brabham: Sixteen, we added.
Porter Stansberry: Sixteen listeners.
Aaron Brabham: We went down to seven for all the religion stuff.
Porter Stansberry: Ooh, yes, the religion.
Aaron Brabham: We bumped back, so we’ve doubled our file again, and we’re at 16.
Porter Stansberry: Awesome.
Aaron Brabham: Very happy about that.
Porter Stansberry: I wonder how many whacko viral cures I’m gonna get through the hotline this week, you know, stand on your head, drink orange juice through your nose, that kinda thing.
Aaron Brabham: Put crystals on you and spin around three times.
Porter Stansberry: We got a lot of the home remedy folks –
Aaron Brabham: We do.
Porter Stansberry: – in the file.
Aaron Brabham: We do, which is actually pretty cool, because you don’t usually mix them with like good financial stuff.
Porter Stansberry: Yeah, my problem is, I’m just too skeptical. I don’t believe in modern medicine, and I don’t believe in home whacky-cracky stuff either.
Aaron Brabham: Well, I’ll tell you one thing that was proven to not work, and now when I see people have it on, it makes me incensed, it’s the little things that you put around your wrist.
Porter Stansberry: The little copper.
Aaron Brabham: Yes, or the copper and then they also started having the fad with like the little magnet things.
Porter Stansberry: Yeah.
Aaron Brabham: One hundred percent doesn’t work. Like the people in the malls that like – they give you the test to move your arm back, and then when you do it again, they put it like on your shoulder, but remember, you’re already stretched out, so, of course, you already know the movements, and your body’s gonna do it anyways. It’s ridiculous.
Porter Stansberry: That’s a nice trick.
Aaron Brabham: All right, Rusty said, “I’m a huge fan and happy paid-up subscriber. I have a question that perhaps Porter could include in a future Friday SIA or in a podcast. Porter often comments that the U.S. might inflate its way out of its –
Porter Stansberry: Might?
Aaron Brabham: – yeah, out of its current – our current debt and currency crisis. What does that mean exactly, and what would that be like month to month, year to year? What would the effect be, an ultimate endgame under that scenario?
Porter Stansberry: I just wonder where this guy’s been living for the last three years, four years. I mean, there’s no might about it. The federal –
Aaron Brabham: He hasn’t been shopping for food.
Porter Stansberry: The Federal Reserve has tripled the size of the monetary base. No, not all that money has made its way into the economy yet, but it will. It’s just sitting there. It’s just a matter of time, and in response, people have fled from savings and financial assets into real assets, so that’s why you’ve seen the price of farmland quadruple in places. That’s why you’ve seen the oil price stay so high.
That’s why you’ve seen commodities of all stripes soaring, and it hasn’t yet inflated the domestic housing market only because there was so – such a huge overhang of supply, but it will. So, my advice to you is just extrapolate the last three years and expect everything to get worse in terms of price increases.
Aaron Brabham: All right, we got Shane in Queensland, Australia – Australia listeners, like them, wish I could do the Australian accent. Ladies would love it, but I just don’t have the ability to do that.
Porter Stansberry: No.
Aaron Brabham: “I have a question for Porter about paying cash for – ”
Porter Stansberry: Hey, hold on. Let me – I gotta say one thing about it. One thing I find so interesting about people is, what is it about human beings that makes them desire to believe in magic, whether it’s copper –
Aaron Brabham: I know where you’re going.
Porter Stansberry: – or magnets on their wrist?
Aaron Brabham: I know where you’re going.
Porter Stansberry: Everyone – and – or these crazy, whacky home remedies, right? I mean, viruses cannot be cured.
Aaron Brabham: Can’t.
Porter Stansberry: They cannot be. You can deal with symptoms slightly, but it takes seven to ten days. That’s it. That’s what I’m looking at, right? But, man, everyone wants to sell me a magical cure.
Aaron Brabham: And if you go to your doctor, 99 percent of the time they’re gonna give you a Z-Pak, which is totally useless and actually does more harm for you because it’s bacterial only.
Porter Stansberry: But, you see what I’m saying. People have this enormous desire to believe in magic.
Aaron Brabham: I see what you’re saying.
Porter Stansberry: When I say “magic,” I mean the quick-fix, easy solution that doesn’t involve time, effort or ability. They just want – they want their problems and their hopes and their dreams solved and/or verified or accepted without doing any of the work, right? They wanna believe in magic.
Aaron Brabham: You mean like our competitors that sometimes have these outrageous claims to turn $10,000.00 into $4 million and they throw all their money into that?
Porter Stansberry: People – I just – I don’t understand the desire that people have to believe nonsense. It just – it baffles me. On the flipside, this – the monetary question brings this up, because while people have this enormous desire to believe nonsense, right, they actually refuse to know anything about how the world actually works, you know? Like it’s never occurred to them that there is no intrinsic value to the pieces of paper that they’ve been working for and saving.
Aaron Brabham: Maybe it’s just you just don’t wanna believe that it’s all a lie that we’re living, because it –
Porter Stansberry: I just – I –
Aaron Brabham: – kind of is.
Porter Stansberry: I just don’t understand it, and I hope there’s some listeners out there that share my view, ‘cause I spend my life trying to figure out what’s real and the way things really work, and, therefore, I’m deeply skeptical.
Aaron Brabham: You might be too rational, but I like it. It’s refreshing. All right, Shane in Queensland. He says, “I have a question for Porter about paying cash for your Mercedes.” Remember we talked about that a couple episodes ago, or a while ago? He says, “One of the many things I learned from Porter was buying Annaly on margin and getting 14 percent returns from dividends – ” I don’t know about the margin part, but 14 – it’s paying like 13 point something percent there –
Porter Stansberry: Right. No, no, it depends, ‘cause –
Aaron Brabham: So, his thing is why would you not go for a low interest rate on the car and do that?
Porter Stansberry: Well, duh, because the car is a depreciating asset while Annaly is an appreciating asset, so, obviously, if you have positive carry, then debt is perfect for you, but believe me, you’re not gonna have positive carry on a car. It’s not gonna happen.
Aaron Brabham: No, and you – by the way, just for our listeners, Porter doesn’t buy brand-new cars.
Porter Stansberry: No.
Aaron Brabham: That’s one of the most foolish things that you can ever do.
Porter Stansberry: No, I buy used cars, pay cash.
Aaron Brabham: Especially the higher-end ones. They’re at a drastic discount.
Porter Stansberry: You can buy a luxury car two years later for half of retail.
Aaron Brabham: All right, in the Digest a few days ago, there was a write-up about corn prices reaching an all-time high –
Porter Stansberry: Well, I did –
Aaron Brabham: – on Friday.
Porter Stansberry: Well, I did buy one new car recently.
Aaron Brabham: I didn’t wanna include that.
Porter Stansberry: It was an impulse buy, though.
Aaron Brabham: I didn’t wanna include that.
Porter Stansberry: Yeah.
Aaron Brabham: You were big-dogging it that day.
Porter Stansberry: Yeah, I was –
Aaron Brabham: You know, the showroom guy, I know.
Porter Stansberry: So…
Aaron Brabham: All right, so corn prices the other day – or last Friday they hit an all-time high. Porter, you’ve been writing about a looming food crisis since 2010. What do you think happens from here, and are you seeing any investment opportunities outside of Monsanto, or do you think Monsanto is still decent?
Porter Stansberry: Well, I’ll tell you what, talking about Monsanto is akin to talking about religion.
Aaron Brabham: I know it is.
Porter Stansberry: So –
Aaron Brabham: I know.
Porter Stansberry: People hate that company. Everyone hates it except for farmers, which –
Aaron Brabham: Yeah, and we only had one farmer that disputed it, but the rest of them loved it.
Porter Stansberry: Which tells you something. So, yeah, it’s funny, people think that these things are natural disasters, but they seem to always correlate with expansive monetary periods, so I would tell you that in a free market, there’s no such thing as a famine, and there’s no such thing as a shortage, and what’s happening to the market for corn in particular is that 30 or 40 percent of our entire corn production has to go to ethanol now, which makes no sense, zero – makes no sense. It costs us more energy to make ethanol than it delivers, so we’re spending more in natural gas and electricity to make ethanol than we’re getting out of it from our cars. It is completely retarded. It’s completely a product of Washington and Wall Street, and it’s a disaster, and, therefore, we’ve got soaring corn prices.
We also, by the way, have soaring soybean prices. There are some elements of this that are related to the drought, but most of the price increase is because of the inflation and of the ridiculous policies regarding ethanol.
Aaron Brabham: And on a Monsanto note, I was watching CNBC this morning, and they were interviewing farmers, and the farmers are like, “Yes, I pay twice as much for these seeds, but I have 75 percent more crop than I would if I had used regular seeds, so thank God I had those seeds.”
Porter Stansberry: Right.
Aaron Brabham: You recommended it. Your subscribers did well on it, but we received a lot of hate mail, and I’m sure we’ll get –
Porter Stansberry: Right, people think that – people think all kinds of crazy things about Monsanto, that it’s taking over the world, that it’s gonna cause a famine, that it’s blah, blah, blah, blah, blah, blah. And they have these crazy sources that they use that are totally wrong. I mean, they’re just completely made up, but they read it on the Internet, so they know it’s true.
Aaron Brabham: Well, if it’s on the Internet, it must be.
Porter Stansberry: Right.
Aaron Brabham: Some blogger did it. All right, now it’s time for Governor Gary Johnson. Due to a scheduling problem yesterday, we had to move the interview with Governor Gary Johnson to today. Unfortunately, Porter’s out sick, so I’ll go at it alone. Governor Johnson, thanks for joining Stansberry Radio.
Gary Johnson: You bet. Thanks for having me on.
Aaron Brabham: My pleasure. Unfortunately, Porter is out today. He’s not feeling well, but he wanted to ask a very simple question to you, which is why would you want to be president?
Gary Johnson: Well, I wouldn’t be doing this if, number one, I didn’t think I could do a good job, and number two, the country’s in deep, deep trouble, and I don’t think either Obama or Romney are offering up the solutions to what we face. I believe that unless we balance the federal budget, we’re gonna find ourselves in the midst of a monetary collapse, and that’s gonna be when the dollars in our pocket aren’t worth a thing because of the ensuing inflation that’s gonna go along with borrowing and printing money to the tune of 43 cents out of every dollar that we’re spending. I also believe that there’s – that crony capitalism in this country is alive and well. I am the only candidate that’s proposing to eliminate income tax, corporate tax, abolish the IRS and replace all of that with one federal consumption tax. In this case, I am embracing the fair tax, believing that it would reboot the American economy, that it would make our exports 23 percent more competitive, the answer when it comes to China.
And that it’s really the answer when it comes to jobs, because, hey, in a zero corporate tax rate environment, if the private sector doesn’t create tens of millions of jobs, what’s it gonna take to create tens of millions of jobs? I see manufacturing that has left the United States, flocking back to the United States with a zero corporate tax rate environment.
Aaron Brabham: Now, Governor Johnson, just for a little brief history, when you were governor of New Mexico, you were the king of vetoing items. Can you tell us a little bit about that, because I like to give a brief history so people can kind of do some research on you as well.
Gary Johnson: Well, Aaron, as governor of New Mexico, I may have vetoed more legislation than the other 49 governors in the country combined. I vetoed 750 bills. I had thousands of line items beyond the 750 bills. Only two were overturned, so it made a difference when it came to billions of dollars’ worth of spending. It made a difference when it came to laws that, in my opinion, were just gonna add time and money to your and my life and wasn’t gonna make your or my life any healthier, any safer.
Why do it? In a state that was – that is two to one Democrat, New Mexico, the ultimate verdict of all those vetoes was I got reelected to a second term by a bigger margin than the first time, and I just think it speaks volumes to the fact that people really appreciate good stewardship of tax dollars.
Aaron Brabham: From what I understand, if we can get 15 percent of the popular vote, you’ll automatically be invited to the presidential debates. How would that change the dynamics?
Gary Johnson: Well, Aaron, that would be the only scenario under which I might actually win this election. Now, that could be crash and burn, but I think it’s important for the American people to hear a third voice, and I’m gonna argue that I’m not the third voice. I’m really the only voice. I mean, I’m the only candidate that does not want to bomb Iran. I’m the only candidate that wants to get out of Afghanistan tomorrow, bring the troops home.
I’m the only candidate that really believes marriage equality is a constitutionally guaranteed right. I’m the only candidate that wants to end the drug wars. I’m the only candidate that would not have signed the National Defense Authorization Act, allowing for you and I to be arrested and detained without being charged. I would like to repeal the Patriot Act. These are big differences, and Aaron, I am saying – I’m comparing myself to these other two guys, because there are going to only be three candidates on the ballot in all 50 states, and I’m one of those three, so I think that that is significant.
There are other third parties, but none of the other other third parties are gonna come close to 50-state ballot access.
Aaron Brabham: What’s your stance on the Federal Reserve?
Gary Johnson: I would abolish the Federal Reserve if the Federal Reserve, if that legislation passed Congress. It’s an inside job. Banks are loaning money – or, excuse me, Federal Reserve is loaning money to the banks at zero percent. Now, that’s our money, and that’s printed money, but banks aren’t loaning it out to you and I. They’re buying treasuries, because why take a risk when you can make that a closed loop.
It’s an inside job, and that isn’t what this country is supposed to be about. This country is supposed to be about equal treatment for everybody. Well, bankers don’t come under that category.
Aaron Brabham: It’s funny, I was just reading an article this morning about 40 compelling reasons why Mitt Romney and Obama are the same candidate, and that’s why I think it’s so imperative for America to get out there and support you, because I’d love to see you in these debates. I know that you’ll challenge them on questions that they wanna bury, like all the things you just covered with the NDAA, with the Federal Reserve, with the Patriot Act. These are our rights and our liberties. I’d love to see you out there. We’re gonna do our best to get this podcast to as many people as possible and see if we can get some new sources to pick it up.
Governor Johnson, I wanna thank you very much for your time, and if our listeners are interested, I’m sure you’d love some donations to ramp up your campaign. Where can they go?
Gary Johnson: Well, get online. Check out what I’ve been saying, garyjohnson2012.com. Aaron, I appreciate you having me on. I’ll end this by saying just the other day I heard that our $16 trillion debt, the Democrats are responsible for 8 1/2 trillion of that debt. Republicans are responsible for 7 1/2 trillion of that debt.
Hey, a vote, Tweedledee, Tweedledum, what’s the difference gonna be, just reiterating on what you earlier said.
Aaron Brabham: I agree. Thank you so much, Governor, and good luck out there.
Gary Johnson: Thank you very much.
Aaron Brabham: Take –
Gary Johnson: Bye.
Aaron Brabham: Bye. All right, Porter, one of your favorite segments, “winning the war on the middle class.” So, two weeks ago – this is actually kind of interesting.
Porter Stansberry: That’s the wrong headline for the – it’s “the war on the middle class.”
Aaron Brabham: The war on the middle class –
Porter Stansberry: Yeah. We don’t wanna win the war on the middle class.
Aaron Brabham: Well, it’s government winning the war on the middle class.
Porter Stansberry: Right.
Aaron Brabham: I like the story. Two weeks ago, Goldman Sachs agreed to provide a $10 million loan for a jail program in New York. In return, the financial services giant would profit if the program succeeded in significantly reducing recidivism rates, so they’re Social Impact Bonds. Are you kind of familiar with Social Impact Bonds?
Porter Stansberry: Ugh.
Aaron Brabham: Yeah, what are your thoughts on this? It sounds like an odd thing for Goldman Sachs to get interested in some kind of reform program, considering they pump out a ton of criminals.
Porter Stansberry: This is classic American socialism, or as other people call it, fascism. One of my favorite examples is that J.P. Morgan makes $100 million a year by producing the EBT cards.
Aaron Brabham: I didn’t know that.
Porter Stansberry: Yeah.
Aaron Brabham: That’s insane.
Porter Stansberry: Yeah, so they have a vested interest in the growth of the welfare state. Likewise, this deal sets up Goldman to become a financier to the prison industry. There’s a reason why American has seven times more people involved in the penal system than any other developed country in the world. I mean –
Aaron Brabham: Because it pays?
Porter Stansberry: We’re the modern Gulag. We put people in prison for all kinds of crazy stuff that no one else in the world considers criminal. Why? Why do we do that?
Aaron Brabham: I guess it’s a money maker for somebody.
Porter Stansberry: Well, look at all the private companies involved in building, maintaining and staffing prisons. Now, Goldman’s getting into the act. It’s funny what the growth industries are in America, right. Growth industries are [word beeped out] healthcare, right, healthcare that nobody needs, that we can’t afford. And the growth industry is [word beeped out] college, right.
That’s the only part of the credit industry that’s really growing is student loans, so [word beeped out] education that you don’t need and you can’t afford, right, and, of course, the prison system, which is, in my mind, absolutely – it’s just completely insane, because it doesn’t punish the violent criminals and it does punish people who really we should just leave alone.
Aaron Brabham: Yeah, some dude walking around with weed in his pocket gets thrown in with violent criminals.
Porter Stansberry: I don’t care about the guy with weed. I care about the violent criminals.
Aaron Brabham: I do, too.
Porter Stansberry: And I don’t understand why – I, personally, I don’t understand why we don’t kill more of them.
Aaron Brabham: I mean, I’m from Texas. I’m pro death penalty guy.
Porter Stansberry: Hey, you threaten someone with a gun and there’s a videotape of you doing it, sorry, string him up.
Aaron Brabham: And there’s countless –
Porter Stansberry: What’s wrong –
Aaron Brabham: – cases of people that have gotten out of jail from these violent crimes that go commit more violent crimes.
Porter Stansberry: Yeah, what’s wrong –
Aaron Brabham: What do you think, they’re gonna go get a good job?
Porter Stansberry: What’s wrong with that? And by the way, this whole idea of trying to rehabilitate people, yeah. How does that work when you get married and you try to change someone? How does that work out?
Aaron Brabham: It ends in divorce and half your money being gone.
Porter Stansberry: Right. Just stop.
Aaron Brabham: Just stop it.
Porter Stansberry: Just stop this nonsense. If you have someone who’s a violent criminal – you know what, if you wanna be quote/unquote “fair,” fine, you get give them three strikes, but when they get three strikes, don’t just put them in jail forever. Go ahead and hang them up. Hang them up and send their body back to Mom and say, “Sorry, you should have done a better job with this kid.”
Aaron Brabham: I’m okay with it.
Porter Stansberry: Yeah.
Aaron Brabham: I am. All right, Porter, Amtrak lost $84.5 million selling food and beverages last year, or attempting to, I guess, and they’ve lost nearly a billion, 833.8 million over ten years. But, they recently proposed a renovation of Washington’s Union Station that would cost at least $6.5 billion.
Porter Stansberry: You could tell how serious we are about deficit reduction in this country.
Aaron Brabham: Yeah, yeah. It’s insane.
Porter Stansberry: Yeah, it’s insane. If you’ve ever tried to eat the food on Amtrak, it’s just – the whole thing is just shocking. But, this just goes to our point that we make all the time, which is that government shouldn’t be involved in private enterprise. There’s no reason why Amtrak couldn’t be run as a private company by real entrepreneurs. There’s no reason at all.
Aaron Brabham: None at all. There’s one more war on the middle class, and, of course, you’ll just shake your head, and we talk about it all the time, but Americans joining disability now outpacing Americans finding jobs. Between April to June of 2012, an estimated 246,000 Americans were added to Social Security’s disability insurance program versus 225,000 Americans that received jobs or earned jobs. So, since 2008, 3.6 million Americans have been added to Social Security disability insurance program –
Porter Stansberry: Million.
Aaron Brabham: Million.
Porter Stansberry: Yeah.
Aaron Brabham: And then, at same time, a net total of 1.3 million jobs were –
Porter Stansberry: Yeah. So, for all those people out there who believe that Social Security is a pension scheme, you’re out of your minds. It was never a pension scheme. It has always been a Ponzi scheme, and the people who are trying to get in the system now are smart enough to realize that if they wait there won’t be any money. So, all you people out there that are collecting Social Security and you think that you’re just getting back what you paid into it so it’s okay, sorry, the money that you paid into it was paid out long, long time ago.
What you’re being paid is money that’s being taken from people like me and Aaron. And by the way, they’re gonna have to take more and more money from people like me and Aaron to continue to pay people like you and these lying scoundrels who say that they’re newly disabled.
Aaron Brabham: Yeah, this year it’s like 111,000, but it goes up every year dramatically. Pretty soon they’ll uncap it.
Porter Stansberry: Yeah, and there’s a whole legal industry now of finding the judges who approve these things and paying the judges off, so it’s – yeah, you know, the idea that the government can administer welfare is just completely a bankrupt idea. The government’s crooked. The systems earn, inevitably become corrupt, and then, of course, they fail, and if you had any idea of math, the whole idea of Social Security would make you giggle. It’s just a Ponzi scheme, and the only way – so, what should we do? We should take people who – we should give people some credit for what they’ve paid into it, figure out what’s left in the system, divide up the assets based on well, who’s paid in what –
Aaron Brabham: Who paid in.
Porter Stansberry: Yep, just like you do with any other Ponzi scheme when you shut it down, and move on. But, continuing it doesn’t solve anything, and all these people out there who say, “Oh, I paid into it. Oh,” blah, blah, blah, blah, blah, you know, I don’t care, sorry. It’s a lie. You believed a lie. That was dumb, sorry. You shouldn’t believe whatever the government tells you.
Aaron Brabham: I just look at them as they’re just taking out of my paycheck I’m never gonna see it. I’m not relying on the government to do anything for me by any means.
Porter Stansberry: Just it’s just so – it’s just such – it’s such an incredible con. It just makes me sick, and it really makes me sick that so many Americans are utterly dependent upon it, because it is a con. What they’re depending upon is graft and crime.
Aaron Brabham: Mm-hmm.
Porter Stansberry: It’s awful.
Aaron Brabham: They’re depending upon you becoming dependent on them so they can keep their jobs of keeping you dependent.
Porter Stansberry: It’s just ridiculous.
Aaron Brabham: On that note, scumbag update, if people are wondering why the Department of Justice has refused to go after Jon Corzine for the $1.6 billion in missing funds – you’ll love this, Porter – it might be because the now defunct MF Global was a client of Attorney General Eric Holder and Assistant Attorney General Lanny Breuer’s former law firm, Covington & Burling. Shocking right?
Porter Stansberry: What a shock, shock.
Aaron Brabham: And one more thing, the trustee overseeing MF Global’s bankruptcy is former FBI Director Louis Freeh. Freeh served as a character witness for Holder during Holder’s Senate confirmation hearing. That sounds like people I want representing me trying to get my money back.
Porter Stansberry: Well, Louie Freeh is the guy who sent Penn State down the river, too.
Aaron Brabham: I didn’t know that.
Porter Stansberry: Yeah. Anyway, I think it’s ridiculous to blame the school – or the kids for the actions of one perverted coach, but –
Aaron Brabham: Yeah, I totally agree.
Porter Stansberry: Anyway, people – put the people who were responsible for him in prison. Let the kids play football. Come on. What’s so hard about that?
Aaron Brabham: One thing we don’t have to listen to, though, is a bunch of Penn Staters honking about their team for a little while, which I’m actually okay with, ‘cause we got a lot of Penn Staters up here.
Porter Stansberry: I don’t care, but in regards to this corruption, so we’ve seen it. This example with Corzine, right, he’s one of the most powerful political people in the country. We saw it with Steve Rattner, who committed bribery, never went to jail. We saw it with Steve Jobs, who committed massive securities fraud, massive, to the scale of several billion dollars where his own CFO says he should go to jail, right. He hires Al Gore to be on this board, problem goes away. And what was the other one with the Goldman CEO who was the treasury secretary?
Aaron Brabham: Paulson.
Porter Stansberry: Paulson.
Aaron Brabham: Where he had the secret meeting with the hedge funds after the city hearing.
Porter Stansberry: Right, right, he told 20 of the largest hedge funds in the world that Fannie and Freddie would go to zero while saying the exact opposite to the Congress.
Aaron Brabham: Yeah, two weeks prior.
Porter Stansberry: Why haven’t any of those things ever been prosecuted?
Aaron Brabham: It’s a good question. So, I – we have another segment, “CEO or crook,” all right. So, this year will be record penalties for fraud and few charges for executives. As much as $8 billion in fines paid out by companies this year, like the pharmaceutical companies, military contractors, banks, other corporations.
They’re gonna pay fines to resolve charges of defrauding the government. Yeah, because the government’s so not corrupt, right? It’s a record sum, more than twice the amount assessed by the Justice Department last year. As you’ve talked about many of times, there are no consequences for these executives. If a company is gonna be able to get a – figure that they can just pay a fine, but that’s it, fine, they’re gonna keep being corrupt.
Porter Stansberry: You know, I say the same thing every show, personal liability. If you want these guys to actually be accountable, then get rid of the D and O insurance or make them pay a large part of the deductible. Some way, shape or form, make them accountable, because they’re just not, and I guess I just crack up when I see my fellow Americans, like the guy from Texas who says, “Texas is the greatest place in the whole world.” “Oh, yeah? Well, where else have you ever been?”
“Why would I ever leave Texas?” “Oh, okay.” Right? I mean, so like, what, one in ten Americans have a passport? I don’t care if you don’t like to travel. That’s fine with me. I don’t care, but there is widespread belief that America is this place that is perfect and beautiful, so when I tell people I like to vacation in Nicaragua, they look at me like I’ve got four eyes. “What are you talking about?”
Aaron Brabham: Dude, the mountain guerrillas are gonna come down and –
Porter Stansberry: The mountain guerrillas.
Aaron Brabham: – take your family.
Porter Stansberry: In Nicaragua. Isn’t that Russia with palm trees? Isn’t all the people corrupt? Well, yeah. You know, the local policeman is corrupt. You can give him $5.00 and get out of a speeding ticket, which is fantastic. That’s the kinda corruption I like.
Aaron Brabham: I’m not hating on that at all.
Porter Stansberry: No, but the idea that our government is somehow less corrupt than any other large state in history or in the world is completely nonsense. We have – because we have the most powerful government in the world, I would tell you that we have the most amount of corruption, and I think the two are related. The more power these officials have, the more likely they are to become corrupt. That’s human nature. That’s the way the market works.
Aaron Brabham: It’s a strong correlation – Adolf Hitler, Mussolini, yeah.
Porter Stansberry: So, if you want to reform the government, the way to do it is to take powers away from it. I mean, ideally the government is operating in the background, and you hardly ever have to deal with it or see it. Here’s an example. You wanna have a safe airline? You wanna have an airline that doesn’t have any problem with terrorists? All right, then why can’t you have an airline called “bring your own gun airline,” pistols and rifles welcome?
Aaron Brabham: Just have like concealed weapon permit thing or something, you know?
Porter Stansberry: Yeah. I would much rather fly on a plane where all the passengers were armed than fly on a plane where supposedly the government’s protecting me.
Aaron Brabham: Same reason why I’d prefer strongly for them to allow concealed weapon carry here in Maryland, and they don’t, and the –
Porter Stansberry: How about the –
Aaron Brabham: – criminal has the advantage over me.
Porter Stansberry: Well, how about the Batman episode, right, the – where the guy walked into the Batman theater, right? Well, how would that have turned out if three or four people there had a concealed permit?
Aaron Brabham: It would have turned out poorly for him.
Porter Stansberry: It would’ve – a lot of people – but, this idea – it’s insane, the idea that you don’t have to protect yourself because the government will protect you. It’s, obviously, false, and not only that, it could never be true. There aren’t enough resources the government could ever have to actually protect you. By the way, a guy got shot and killed right on our block in Baltimore last week.
Aaron Brabham: Yeah, I try not to read the local news.
Porter Stansberry: I mean –
Aaron Brabham: It’s really depressing.
Porter Stansberry: My point is, when are we as a country, when are we gonna wake up and realize that the government is nothing but lies and fraud? Social Security is a prime example, right, and look at all the corruption in our leaders. When are we gonna wake up and say, “Enough. I’m not gonna give any more power to those people. I’m gonna take power back.
“I’m gonna take power back in the form of self-defense. I’m gonna take power back in the form of managing my own money in gold and silver, not relying on their paper, worthless paper,” right? “I’m not gonna be a part of their so-called education system,” which is just jail school, right. All it does is prepare kids in Baltimore to go to jail. And, in return, I want the government to leave me alone.
Aaron Brabham: Wow.
Porter Stansberry: I mean, isn’t that what America was all about from the start?
Aaron Brabham: Absolutely. That’s why people got the F out of Europe.
Porter Stansberry: Yeah, and I love it when – on the TV the other night, the vice president was saying that the Republicans are gonna put people back in chains. Of course, he was speaking to a black audience, so this was a racially charged –
Aaron Brabham: Of course.
Porter Stansberry: – thing, right? But, the truth is, it’s the Democratic Party is the one who is enslaving those people by making them dependent upon the government. And we found a great video about that.
Aaron Brabham: And he’s coming up in September. We’re gonna have him as a guest. I can’t remember what his name is, but the documentary – actually, it’s a movie out in certain areas. It’s called Runaway Slave.
Porter Stansberry: Yeah.
Aaron Brabham: And you go to runawayslave.com, this – I think it’s gonna be a great guest, ‘cause it’s everything that you’ve talked about. This guy did all the work to put this together and educate the fact that the Democrats are enslaving Americans period – well, Republicans do a good job, too, but Democrats really love to hammer down on that whole “we’ll take care of you” thing.
Porter Stansberry: Yeah, I’m telling you, if you just study the congressional election results, anytime you find a result where somebody gets more than 80 percent of the vote, you also find that it’s a black Democratic politician who received the vote, and you also find that his district is a complete, absolute shit storm, where crime if off the hook, where there is no sustainable family. It’s all out of lock marriage. There’s all drug use. It’s all disaster.
Aaron Brabham: Yeah, there’s no improvement. It just keeps deteriorating, but they keep getting voted in by 80 percent plus.
Porter Stansberry: Right. So, clearly there’s a fair election.
Aaron Brabham: Definitely.
Porter Stansberry: Yeah.
Aaron Brabham: All right, Porter, it’s time to get to our 1-800 hotline number where we have our callers call in, 855-727-2346. All right, Tim, you got some voicemails for us?
Voicemail: Hey, Porter and Aaron. First of all, you guys do a great job. I appreciate, you know, the information, but I just wanted to know like compared with the past, and you have the whole world and everything that’s going on, the government control and all that, where do you compare us with what happened with Russia and Germany with Mussolini, Stalin and Hitler? Is there anything like that that you think could happen in the near future, or what are your thoughts on all that? Thanks.
Porter Stansberry: Well, first of all, you make a very, very good point, and it’s scary to think about, but if you just look at the size of the state as a percentage of GDP, we’re now up to about 46 percent. And if you look at all the critical industries in the United States – education, healthcare, manufacturing, mostly automobiles – the state has a very large, even a controlling roll, through regulation or, in the case of General Motors, through investment, through equity. I think you can make a very, very good case that we’re already well down the path towards the kind of fascism that was so destructive in European history previously. My expectation is, however, that the culture in America is stronger than the government and that we won’t, as a people, we will not tolerate a suspension of habeas corpus or of things like a jury trial or any violation or attempt to reign in the second amendment. And really, it’s the fact that there are how many millions of guns in the United States?
Aaron Brabham: Two hundred and eighty million, I think, was the last stat I saw.
Porter Stansberry: That really does provide a very, very tough hurdle for the government to imagine getting over, because the main reason why the Japanese never intended to invade the U.S. homeland is because there’s a rifle behind every beanstalk.
Aaron Brabham: Every blade of grass or something like that.
Porter Stansberry: Yeah, and, I mean, if the government did attempt to impose martial law, I really don’t think it would work. I think it would be a disaster. I think Americans love freedom, and they won’t put up with any kind of a dictatorship, so I don’t think we’re gonna go down that path. What I think will instead is gonna happen is that these systems are so inefficient and they are so expensive to try to maintain that the thing will, in fact, sort of devolve into an economic collapse, and we’ll be forced to cut back on these promises and on these powers. I mean, General Motors, I think, will go bankrupt again.
Obviously, a country that’s spending 25 percent of its resources on healthcare is not gonna do very well, and a country that – where it costs $55,000.00 a year to go to college and you don’t learn anything is not gonna provide for its future very well either. So, I just think that what you’re gonna see is an economic malaise that causes the electorate to rethink its choices and causes people like Gary Johnson to come to power, and we’ve seen it already with Ron Paul and Rand Paul and with the nomination of the congressman from Wisconsin, Paul Ryan, to the Republican ticket. I think there’s a good chance that you’re gonna see a move towards less government power, less taxation, less regulation, but there certainly has already been a lot of economic damage done, and I think there will be more economic damage done before we reach the point where we finally say “enough.” But, I don’t expect that my son, Traveler, or my son, Seeden, will be 25 years old someday and come out and see a tank on the corner, and I just don’t think that’s in the cards for America. But, certainly, if you look at the numbers, we’re heading in that direction, which is very scary.
Aaron Brabham: Tim, next.
Voicemail: Yes, this is Dave, listener number 13, as you guys dubbed me a few weeks ago. I can’t even listen to this week’s podcast. Why? Because all I hear is Porter in the background trying not to laugh his butt off. Actually, I think he is, and it’s like, okay, I’m at the kids’ table and Porter’s getting us all in trouble. Aaron, I don’t know how you’re holding it together, man. All right, great work, guys. You guys are out of control.
Aaron Brabham: He was referring to the Sandor one where you tried. You pushed the cough button. You pushed –
Porter Stansberry: I did.
Aaron Brabham: – the mute button, but you got that laugh, dude. It carries all the way to my microphone, no problem.
Porter Stansberry: What got us going?
Aaron Brabham: Oh, it was him talking about all the carbon trading and all the –
Porter Stansberry: Oh.
Aaron Brabham: You remember.
Porter Stansberry: Oh, yeah. Yeah, yeah.
Aaron Brabham: You couldn’t take it from word one out of his mouth.
Porter Stansberry: It was like the worst radio interview ever.
Aaron Brabham: Pretty much. Next, Tim.
Voicemail: You guys wanted feedback on the last show. Well, watching baseball is like watching paint dry, but even then you guys did pull off an interesting interview with that last guest, although you seemed to lobbing him a lot of stop balls. Porter, please, please, please ignore your editor and do more pieces like you did on the regression analysis. I bet there are more people out there like me who would love to hear more of that stuff. Love the show. Keep up the work. Thanks.
Porter Stansberry: So, was that – he’s talking about John Rocker?
Aaron Brabham: Yeah, he’s talking about Rocker.
Porter Stansberry: Yeah. Well, you know –
Aaron Brabham: Yeah, we took it easy on him, you know.
Porter Stansberry: Here’s the thing, though, what we like to do. So, a guy like John Rocker has taken all kinds of slams. If you wanna see John Rocker getting slammed, just go on YouTube and type in “John Rocker slammed,” and you can watch that anywhere else you want. So, a guy like John Rocker that normally gets slammed, when we take him in here, I wanna get to the bottom of all this, okay. You can tell by the interview that he’s a complete xenophobic maniac, right. He’s selling tee shirts that say “speak English,” right, okay. I don’t have to say anything to make him look worse.
Aaron Brabham: No.
Porter Stansberry: All right, he is what it is, but on the other hand, I like it when we get in guys who, like Gary Johnson, or like Doug Casey or guys who you think we’re gonna really give the warm embrace to, those are the guys I like to kinda go after.
Aaron Brabham: Yeah, just sizzle them a little bit.
Porter Stansberry: Yeah.
Aaron Brabham: Put them on the hot seat.
Porter Stansberry: Yeah, because I feel like I can ask them much tougher questions than they’re gonna get anywhere else because I have a better understanding of what they’re all about. So, anyway, I think you’re probably right. The one question I really wished I asked John Rocker is I wanna – I really still wanna know, we might have to get him back on – does he watch Eastbound & Down, which was inspired by his story, and if so, does he like it. Does he think it’s funny?
Aaron Brabham: Kenny Powers, I have a feeling he loves Kenny Powers.
Porter Stansberry: I don’t know why he wouldn’t.
Aaron Brabham: I don’t either. It’s him.
Porter Stansberry: I tell you what, if somebody made a sitcom about newsletter publishing and they had actors playing me and you and we were total goofballs, I would love it. I think it’d be hysterical.
Aaron Brabham: I would love it. It would be fantastic.
Porter Stansberry: It’s like having a Saturday Night Live skit done about you.
Aaron Brabham: Yeah –
Porter Stansberry: It’s –
Aaron Brabham: – how can you hate it?
Porter Stansberry: Yeah, it’s a sign that you’ve arrived.
Aaron Brabham: Man, I think he would love it. I love Eastbound & Down. It’s classic Americana.
Porter Stansberry: All right, and the – we’ll start with the regression stuff. Yeah, we’re actually working on more of that. It’s the kinda thing I really love to do, and I think I can introduce enough people to it to make it worthwhile.
Aaron Brabham: And we have been getting a lot of comments about that saying, “Keep it up, man. We like the education pieces.”
Porter Stansberry: Yeah, if I’m able to go to work the rest of this week, I plan on –
Aaron Brabham: If you don’t die this week.
Porter Stansberry: – I plan on doing another piece like that for Friday.
Aaron Brabham: All right. I got a few e-mails. “Just discovered the podcast. It’s great.” This is from Harold, by the way.
“Sounds like two guys sitting in a bar, talking. I like the way you make fun of the guests after they sign off. I like the political incorrectness. That’s a word; look it up. Guess I’m Arbitron 15. Don’t worry about the audience. It’ll get better.”
Harold, you just made it better, so we like that. Scott said, “The Sandor show is one of the greatest episodes ever. Whilst laughing his balls off over this windbag Sandor, Porter somehow composed himself to finish the interview and then give the listeners a great summary and tips.”
Porter Stansberry: Oh, geez.
Aaron Brabham: You did do a nice little summary on that one.
Porter Stansberry: That guy was so bad.
Aaron Brabham: And we have –
Porter Stansberry: You know what we need? Just for in here we need like a picture of the worst all-time guests with like some little quote from their spiel that will remind us of how bad they were.
Aaron Brabham: We do have a nice wall. We could put the wall of shame guests up here.
Porter Stansberry: Yeah, yeah.
Aaron Brabham: Scott said, “I’m a newsletter subscriber, but a relatively new listener, and now the highlight of my week is listening to Porter rip someone a new A-hole as Aaron eggs him on.” You pretty much just summed up the show. Thanks for that, buddy. We appreciate that.
Porter Stansberry: I don’t do that.
Aaron Brabham: No, no, no, never, never. And we had – Mitch had these comments. “I can’t thank you enough for the free weekly podcast. As a 26-year-old that works in finance and insurance, it’s very hard to find something to listen to that is entertaining as well as educational. The general public, especially my generation, is failing to see what’s right in front of them. It would also be great if you continue to discuss what steps young investors should be taking to achieve some of the success that you have.”
Porter Stansberry: That’s easy.
Aaron Brabham: “If you wrote a book on these subjects alone, I am confident it would not stay on the shelf. Also, I know Aaron mentioned he was somewhat of an authority on the golf – world of golf. I wouldn’t mind a little more of golf talk thrown into the mix.” We’ll save that for the black label edition.
Porter Stansberry: Yes. I gotta tell you, though, Rory was just magnificent last week. That was one of the greatest athletic performances of any kind I’ve ever seen. The fact that he did not miss a putt down the stretch was just –
Aaron Brabham: Including the last one.
Porter Stansberry: – was unworldly.
Aaron Brabham: Unworldly, but yet he didn’t miss.
Porter Stansberry: I literally thought he must be cheating. I was like, there’s gotta be a string on the ball or something. That’s just inhuman what he did.
Aaron Brabham: I mean, I was worried about him after that Masters collapse a couple of years ago, but then when he blew it out at Congressional, I mean –
Porter Stansberry: Yeah, won by eight.
Aaron Brabham: – literally smoked it.
Porter Stansberry: Won by eight.
Aaron Brabham: And then, he just broke Jack’s record for the PGA championship, 23-year-old. I love the way he performs on and off the course. He’s a real humble dude. I kinda like these northern Irish guys.
Porter Stansberry: Yeah, I like all of them.
Aaron Brabham: They seem to handle themself well, McDowell –
Porter Stansberry: I actually had a drink with McDowell at the clubhouse at the Masters.
Aaron Brabham: I love GMAC. GMAC’s the man.
Porter Stansberry: Yeah, and he was – when I say I had a drink with him, he was sitting at the bar I was at. [Laughter]
Aaron Brabham: Yeah, I mean, you know, same bartender, it’s all the same.
Porter Stansberry: But, it was in the clubhouse at Augusta.
Aaron Brabham: Yeah.
Porter Stansberry: It was nice.
Aaron Brabham: Which during Masters week is not an easy ticket to get in.
Porter Stansberry: Yeah, no.
Aaron Brabham: I mean, you really can’t get in unless you have a member.
Porter Stansberry: I pulled some strings.
Aaron Brabham: So, you’re saying we have a member that is –
Porter Stansberry: We have several.
Aaron Brabham: – a subscriber.
Porter Stansberry: We have several.
Aaron Brabham: It’s fantastic.
Porter Stansberry: Yeah.
Aaron Brabham: By the way, on the 21st of – 21st, yes, I might be able to get us on Congressional on a Friday, if you’re healed.
Porter Stansberry: The 21st of August?
Aaron Brabham: Oh, you – I mean, sorry, September.
Porter Stansberry: Okay, well, September I can play, but I’m not playing golf in August in Baltimore.
Aaron Brabham: Yeah, it’s too hot.
Porter Stansberry: No.
Aaron Brabham: No, it’s about the 21st of September.
Porter Stansberry: Listen, though, let me give something beneficial here to everybody, or at least to the younger listeners. The guy asked if you were 26 years old, what are some things I can do to have a chance of some of the success that you have achieved, okay. And he said he was in finance and insurance. I’m not trying to put the kid down. I don’t know what he does.
I don’t know who he is, but my bet is he’s probably selling insurance for some major company, okay, and if he is, he’s gotta call me and tell me how to get better car insurance rates. No, I’m teasing. I’m teasing. No, but what I would tell you is, it’s – you’re very unlikely to become wealthy if you’re working for another large company. Now, if you’re working for a small company, you can become very wealthy, because you can become an important source of profits, and you can get – end up getting part of the equity.
Or you can do what I did, which is start your own business and attach it to a larger business for capital and support. But, the point I’m gonna tell you is, and this is unpleasant if you’re 26 years old, you are very unlikely to escape the middle class unless you’re working for yourself, and I don’t mean as an independent salesman. I mean with a company where you’re able to leverage and scale a business. So, you have to find something that you’re really good at, that you are very passionate about that’s scalable, and I don’t mean opening a restaurant. That’s not scalable.
You have to find some way of leveraging your expertise across dozens and then hundreds, then thousands of people. And the other thing that I want you to realize is, you have to surrender yourself completely to the task. Most people don’t know this. I didn’t do anything but work for ten years. I really started the company when I was 26, and I didn’t stop working 18 hours a day, 6 days a week until about a month ago when I resigned as the managing director, which is something we haven’t discussed yet, but I’m still writing my newsletter.
I’m still working. I’m just not running the company anymore, because I couldn’t do it anymore. It was killing me. And people, I just – I honestly don’t think they have any idea of what it really takes. They just don’t know what it takes, so there was – there were a few years where I didn’t go to Thanksgiving with my family because our packages weren’t working and I had to write a new one.
So, the business always, always came first. Everything else, my family, my marriage, my kids, my health, everything came second, and if you’re not able or willing to do that – and by the way, I think it’s a fantastic decision for most people to say, “Yeah, that’s – I’m not – that’s not for me. I’d rather have a balanced, well-rounded life than become wealthy.” No problem here. In fact, if it wasn’t for the 100 people that work at Stansberry that bought into my dream, it would have never happened, so it takes both.
You gotta have people who wanna be entrepreneurs, and you gotta have people who want a steady job and earn an honest, reasonable living. But, if you’re the kinda person like me that just knew that I wouldn’t ever be satisfied unless I had built something myself and unless I had acquired a lot of wealth, then the only way you’re gonna do it is by working for yourself, and you’re only gonna be successful if you can be completely committed to the goal. And if you’re interested in doing that, the book that I would recommend strongly that you read was written by my personal mentor in business. His name is Mark Ford. He writes all of his business books under a pen name, which is Michael Masterson, and his new book is called The Reluctant Entrepreneur, and in my opinion it is by far his best book. The other book that I really like of his is called –
Aaron Brabham: Ready, Fire, Aim?
Porter Stansberry: – is called Ready, Fire, Aim.
Aaron Brabham: Love that one.
Porter Stansberry: So, I would recommend those two books, but start with The Reluctant Entrepreneur, and then do Ready, Fire, Aim, and – you know, there’s no book that’s gonna give you the secret to your own life success, but I know that Mark has mentored dozens of people to businesses that are over $10 million a year in sales, in our case over $100 million a year in sales. He’s inspired many people around the world to start their own companies and to do very well, so that’s my advice, and it’s – I offer it very sincerely. I’ve known Mark for 20 years, and he’s been great to me, but I’m not receiving any kind of commission to sell his book, nor would I be interested in that kinda thing. That’s not what I do. I just think that his material is great, and I know it’s written from a guy who’s actually done it, not from some guys who’s pretending.
Aaron Brabham: Add one more piece to this, ‘cause I believe all that’s absolutely true, how important is it to, if possible, find a good mentor?
Porter Stansberry: I don’t think you can do it without that. You have to have somebody who can give you some guidance, who can meet with you once a month and who can pull you in the right direction. You gotta have it. I’d also tell you that it’s very worthwhile to give up a lot of the equity early in exchange for strategic and financial support. You’re gonna have a very hard time building a business in a reasonable timeframe. Reasonable is 20 years. You’re gonna have a very hard time doing that if you don’t have access to capital and if you don’t have a strategic marketing partner.
Aaron Brabham: All right, we had a couple of tweets @slimtrades said, “You guys need to mute Porter’s line when you are laughing at the guests. You guys are going to run out of guests soon, LMAO.”
Porter Stansberry: Oh, well.
Aaron Brabham: Yeah, he likes – I think he’s kind of egging us on.
Porter Stansberry: If we run out of the guests that we laugh at, that’s fine with me.
Aaron Brabham: That’s okay. Kung Fu Finance tweeted, “I love your podcasts and research and radio show. You guys are hilarious and informative, great combination.” And we had a Facebook, Ben wrote, “Love the podcast. I tell everyone that it is a must listen.” Keep telling people. We like our fans.
Porter Stansberry: I don’t know, we might be – Arbitron might be wrong. We might have – there could be –
Aaron Brabham: Might be up to 20 –
Porter Stansberry: Yeah.
Aaron Brabham: – 20 plus, 30.
Porter Stansberry: I think we got like 20 pieces of feedback this week.
Aaron Brabham: Well, we – and a lot of people think they’re number 13, so they’re, obviously, either, you know, above that or below that somewhere, I’m not sure. Might have to start assigning them little Stansberry Radio dog tags.
Porter Stansberry: You know, we might have to go from ribbing ourselves about the number of listeners to ribbing ourselves about how much money we’re losing by doing this.
Aaron Brabham: We do tend to make the phones ring, don’t we, in the wrong way.
Porter Stansberry: Yeah.
Aaron Brabham: All right, the guest on the next show will be renowned writer and filmmaker of economic theory, G. Edward Griffin, and that’s our show for today. We wanna thank former governor Gary Johnson, libertarian presidential nominee, for his valuable time today. Please go visit his website, garyjohnson2012.com. If you’re not already on our e-mail list, go to stansberryradio.com, add your e-mail so you never miss an episode or any important messages we have for you. Follow us on Facebook.
Hit is up on Twitter @StansberryRadio, and visit our YouTube channel StansberryMedia. [Music playing] That’s our show for this week. If you enjoyed it, please, tell your friends about it. We’ll see you next week.
Stansberry Radio is a purely public broadcast and is not intended to be personalized financial advice for any individual specific situation. Each individual’s financial situation is unique, and Stansberry Radio should not be relied upon and/or considered as personalized advice. Stansberry Radio is not licensed to render personalized advice and should be considered simply the public opinions of Stansberry Radio and its guests. Recommendations on specific financial securities are not intended to address any listener’s particular financial situation.
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This Episode's Guest
Governor Johnson, who has been referred to as the ‘most fiscally conservative Governor’ in the country, was the Republican Governor of New Mexico from 1995-2003.
A successful businessman before running for office in 1994, Gov. Johnson started a door-to-door handyman business to help pay his way through college. Twenty years later, he had grown the firm into one of the largest construction companies in New Mexico with over 1,000 employees. Not surprisingly, Governor Johnson brings a distinctly business-like mentality to governing, believing that decisions should be made based on cost-benefit analysis rather than strict ideology.
Johnson is best known for his veto record, which includes over 750 vetoes during his time in office, more than all other governors combined and his use of the veto pen has since earned him the nickname “Governor Veto.” He cut taxes 14 times while never raising them. When he left office, New Mexico was one of only four states in the country with a balanced budget.
Term-limited, Johnson retired from public office in 2003. An avid skier, adventurer, and bicyclist, he has reached the highest peak on four of the seven continents, including Mt. Everest.
In 2009, after becoming increasingly concerned with the country’s out-of-control national debt and precarious financial situation, the Governor formed the OUR America Initiative, a 501c(4) non-profit that promotes fiscal responsibility, civil liberties, and rational public policy. He traveled to more than 30 states and spoke to over 150 conservative and libertarian groups during his time as Honorary Chairman.
He has two grown children- a daughter Seah and a son Erik and currently resides in a house he built himself in Taos, New Mexico.
- with Rick Rule
- with John Doody
- with Porter Stansberry
- with Porter Stansberry
- with Doug Casey
- with Rick Rule
- with Alex Jones
- with James Altucher
- with Richard Epstein
- with Porter Stansberry