#34 - Eoin Treacy on Life by Subscription, the Chinese Real Estate Bubble, and the Exodus in America

Eoin Treacy, our guest on this week’s BPR Podcast, reckons part of it has to do with our all being reduced to “mere cash flows.” Where our forefathers were typically asset oriented, younger generations tend to embrace a kind of “Life by Subscription” model, which is packaged and sold to them as trendy minimalism... but really represents a transfer of wealth from paycheck-bound renters to asset rich rentiers. Combine this trend with rising inflation and one begins to understand why a whole class of economic outcasts is starting to wonder what exactly it was they signed up for... and just how hard they’re going to get it. Time stamps - A rough guide... (00:50) - Intro (03:45) - Eoin Treacy (04:05) - A history of very short visits to the Middle East... (04:45) - Self censorship in the Dubai media... and the consequences for non-compliance (06:45) - Exodus: The Great California to Texas migration (07:30) - Rising violence around America’s metropolitan centers (09:15) - Violence as a cycle, and where we are right now (11:30) - Eoin’s journey: From philosophy’s big questions to technical analysis and beyond... (12:45) - The first question every investment bank asks new recruits (13:45) - Philosophy, as investing, is really about analysing arguments (14:30) - Inflation vs. Deflation - two sides of the same coin? (16:25) - Life by Subscription: What happens when we’re reduced to “cash flows” (19:45) - Autonomous vehicles and the coming war against private ownership (22:40) - Low interest rates and the Great Experiment Economy (24:55) - The “platform effect” and the great wealth transfer (25:55) - The Airbnb Model and the benefits for asset owners (26:50) - The Great Reset and the future of “Asset Light Living” (30:20) - A history of serfdom and the coming peasants’ revolt (33:00) - Generational Rifts - today’s 40yr olds vs. 40yr olds of yore (35:15) - There’s a lot of ruin in a vastly distributed United States... (36:30) - Mechanisation: The left behinds, both in the US and Abroad... (39:00) - China’s giant real estate debt problem (and pending default?) (43:00) - A Black Swan coming out of the Middle Kingdom (44:30) - How private investing is like international beauty contests (46:00) - The case for Mexico (and a bad case of national PR) (48:40) - The Real Big Fish - Tracking pelagics in the world’s premier scuba locales (50:30) - Eoin’s work, where to find it, how to follow www.fullertreacymoney.com