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Merlin Rothfeld, John O’Donnell and Patrick Barron talk about several key issues facing our markets including fractional reserve banking and the European Union. Professor Barron points to his article about the demise of the euro, and discusses how the breakup could lead to a new world reserve currency.



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I have been a landlord for over 25 years and I’ve learned a lot of lessons about what to do and what not to do, many of which I learned the hard way, aka making mistakes. One of the keys for me was learning how to remove the emotion from the decision. This can often be easier said than done because we are people dealing with people and many times they can have compelling circumstances.Here are a few ways you can help if someone is really in trouble that owes you rent.There are many organizations that can help with a month’s rent if people need to get back on their feet.Create a reasonable payment plan.Help them move on. It could be cheaper than letting them stay and not getting your rent.The most valuable thing you can do is your due diligence up front. Having well defined boundaries is also very important. Here is a list of things that might help you with that process:



It all starts with the rental application. Have a clear, simple but well written application. The most important information is social security number, permission to run a credit report and work history.It is also important to get rental history, but often people don’t want you verifying their current residency because they may not end up leaving. The one thing I try and keep in mind is that if they tell me they have been a victim of a “bad” or “unfair” landlord – there is a greater likelihood that they will view me that way no matter my policies.I have done business with family and friends before and it has worked out OK when there are VERY clear boundaries – but as a general policy, I won’t rent to friends or family.It is an easy fix sometimes to let residents do their own repairs but I would recommend against it. I’ve even had “professionals” as tenants in the past and let them do work without over seeing it. I came to find out that our tastes were different – haha.Always do an inspection report prior to a tenant moving in. Make sure that it is signed and documented with pictures and video. Also make sure it’s date verified – either electronically or as simple as having a newspaper in one of the photos.A couple of years ago I was having troubles with tenants and noise. So I created a Rental Code of Conduct. It was simple but set expectations and created penalties for violators.I think it’s a great idea to require your tenants to carry renters insurance and I know this is done in the major complexes. Honestly, I haven’t been very good at implementing this but it’s an excellent idea.I set the expectation that there will be a rental increase with each new lease. I let them know it will be small but consistent.Make sure that owners of the properties on either side of yours have your phone number in case there is a neighborhood issue and vice versa.I keep my rentals in good condition and competitively priced, which translates into good tenants.I try to upgrade something on my properties every year. This allows the tenants to see that I care about my asset. But be careful because that might get them thinking they can just keep asking for things.

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Fresh off teaching a Forex class online, Mike McMahon joins Merlin and shares his feelings on this big 9 day bounce! Many global events are pushing the move, and Mike discusses why he feels it is the next leg of the Bull Rally! Mike and Merlin also take a look at some other currency pairs, including the all powerful Dollar!



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Consumer prices in the U.S. unexpectedly showed a modest increase in the month of September, according to a report released by the Labor Department on Wednesday, with higher prices for food and shelter offsetting a continued decline in energy prices.

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Jeff Manson joins Merlin to talk about some of his money management learning lessons and perspectives on the US dollar. Several listeners are struggling with rules and money management, so Jeff and Merlin help them out.



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New Zealand had a merchandise trade deficit of NZ$1,350 million in September, Statistics New Zealand said on Friday.



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While the Commerce Department released a report on Friday showing a modest increase in new home sales in the U.S. in the month of September, the uptick came from a significantly downwardly revised level in August.

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Great bullish move to the upside for all 4 major indices this week, yet fear still has not abated. John and Merlin take a look at the market and offer insights as to what’s driving it, and how we should approach it. They also talk about the trading industry as a profession and the best way to get involved with the financial markets. Finally, John tips the scales for his weekly weigh in!



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India is set to for 5.6 percent growth in the fiscal year ending March 31, 2015, the World Bank said in a report on Monday.

In its latest India Development Update, the lender predicted an acceleration in growth to 6.4 percent in fiscal 2016 and further to 7 percent in fiscal 2017.

The implementation of the Goods and Services Tax and the dismantling of inter-state check posts could significantly improve the competitiveness of Indian manufacturing, the World Bank said.

"With economic reforms gaining momentum, long-term prospects for growth remain bright for India," said Onno Ruhl, World Bank Country Director in India.

"To realize its full potential, India needs to continue making progress on its domestic reforms agenda and encourage investments. The government's efforts at improving the performance of the manufacturing sector will lead to more jobs for young Indian women and men."

The report projected inflation to ease to 4.3 percent in the current fiscal, from 6.0 percent in the previous year. The FY 2014 current account deficit of 1.7 percent was forecast to widen marginally to 2.0 percent as import demand picks up and capital inflows rise.

While fiscal consolidation was expected to continue through expenditure restraint, there was room for revenue mobilization to strengthen, the report added.

"India's longer term growth potential remains high due to favorable demographics, relatively high savings, recent policies and efforts to improve skills and education, and domestic market integration," the report said.

"Improved growth prospects in the US will support India's merchandise and services exports, while stronger remittance inflows and declining oil prices are expected to support domestic demand."

The risks to the projections include external shocks such as financial market disruptions arising out of changes in monetary policy in high income countries, slower global growth, higher oil prices, and adverse investor sentiment due to geo-political tensions in the Middle East and Eastern Europe, the World Bank said.

On the domestic front, the risks include challenges to energy supply and fiscal pressures from weak revenue collection.


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October has been very volatile, which many find a nuisance. For active traders, it’s a blessing! Short term trader and 40 year veteran from the CBOE, shares his thoughts on how to deal with the volatility and what he likes to trade. Merlin and Craig also answer several listener questions dealing with trading plans and specific stocks.



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