Rubber Meets The Road Economics: Exploring the forces shaping our economy with Professor Edwin T. Burton

America's Financial Challenges: Debt, Healthcare, and the Path Forward

In this episode, Hunter Craig sits down with renowned economics professor Dr. Edwin T. Burton from the University of Virginia to explore complex yet pressing issues in the U.S. economy. Together, they tackle the roots and realities of the U.S. debt crisis, the complications of the healthcare system, the limitations of Social Security, and the true impact of infrastructure spending on economic growth. Dr. Burton brings clarity to these critical topics, providing a deep dive into how economic policies shape everyday lives, as well as the constraints on solving these challenges through traditional means. From healthcare reform to Social Security alternatives, this episode digs into the policies that could change the financial future of America.
Episode Highlights:
Understanding the U.S. Debt Problem: Dr. Burton explains why simply cutting spending or raising taxes won’t fix the national debt, highlighting the challenges of high marginal tax rates and limited spending options.
Healthcare System Issues: Discussing the inherent flaws in U.S. healthcare, Dr. Burton argues for a system driven by individual accountability and market forces, where insurance is reserved for catastrophic events rather than everyday healthcare expenses.
Rethinking Social Security: With stark insights into Social Security’s financial limitations, Dr. Burton makes the case for mandatory IRAs as a sustainable alternative for Americans’ retirement, emphasizing wealth creation over entitlement payouts.
Infrastructure Spending and Economic Growth: Questioning the efficacy of government infrastructure spending, Dr. Burton outlines the pitfalls of politically-driven projects and the inadequacy of growth alone to solve systemic financial issues.
Quotes from Dr. Burton:
“People are at the breaking point with taxes—raising them won’t solve our debt crisis.”
“In the U.S., we’re spending more on healthcare than any other developed country, yet our outcomes are worse.”
“Social Security is a terrible system; it creates no wealth and leaves no legacy for one’s family.”
“You can’t drive the bus with economic growth alone—there’s a limit to how much can be government-driven.”
“Government is not very good at providing healthcare, and for those who think it is—good luck.”
Takeaways:Dr. Burton’s commentary sheds light on the foundational flaws of current U.S. economic structures, stressing the need for reform in healthcare and Social Security and cautioning against over-reliance on infrastructure spending as an economic solution. His views challenge listeners to rethink policy assumptions and envision more sustainable economic frameworks.
Disclaimer:The information provided on this podcast is for educational and informational purposes only. It is not intended as financial advice and should not be relied upon as such. All opinions expressed by the hosts, guests, or participants are solely their own and do not reflect the views of any companies or organizations they may be affiliated with. We recommend that you consult with a qualified financial professional before making any financial decisions. Remember, investing and financial decisions carry risks, and it is important to do your own research.
Stay Connected:If you enjoyed today’s episode, remember to subscribe and follow for more insights into the forces shaping our economy.
Do you have a question that you'd like Professor Burton to answer? Send us a message, and you may hear it on an upcoming Rubber Meets the Road Economics Podcast episode.
 

The Fed's Next Move: Predicting Rate Cuts and Economic Impact

In this episode of The Rubber Meets the Road Economics, investor Hunter Craig sits down with Professor Edwin T. Burton from the University of Virginia to analyze the current economic landscape and the factors driving interest rates, inflation, and U.S. debt levels. They dive into the Fed’s anticipated rate adjustments, the impact of election outcomes on Treasury yields, and a masterclass in game theory as applied to economic decision-making.
Professor Burton breaks down complex economic concepts into practical insights, exploring everything from real estate buying strategies to the famous three-door problem in game theory. If you're interested in understanding how economic policies might impact your finances, tune in for a grounded, no-nonsense perspective on the economy’s road ahead.
Key Topics Discussed
The Fed’s likely rate cut and the expected reduction in the prime rate
The relationship between short-term and long-term yields and implications for mortgages
The significance of the rising yield on the 10-year Treasury note and its ties to U.S. debt levels
Game theory applications in real estate and market behavior
Explanation of the three-door problem in probability and decision-making
Financial DisclaimerThe information provided on this podcast is for educational and informational purposes only. It is not intended as financial advice and should not be relied upon as such. All opinions expressed by the hosts, guests, or participants are solely their own and do not reflect the views of any companies or organizations they may be affiliated with. We recommend consulting a qualified financial professional before making any financial decisions. Remember, investing and financial decisions carry risks, and it is essential to conduct your own research.
More about Dr. Edwin T. Burton
Dr. Edwin T. Burton is a distinguished professor of economics at the University of Virginia, specializing in finance, with a particular focus on behavioral finance and the theory of financial markets. His academic career began in 1969, and he has held faculty positions at Cornell University and UVA since 1988. He has also been a key figure on Wall Street, holding senior roles at Smith Barney, Rothschild Financial Services, and Interstate Johnson Lane Corporation.
At UVA, Burton’s courses on finance are among the most popular in the Economics Department, where he has taught thousands of students over his career. In addition to his academic work, he has been deeply involved in public service, serving as the longest-standing trustee of the Virginia Retirement System and holding the position of chairman from 1997 to 2001.
Beyond his academic and professional contributions, Dr. Burton has authored multiple books on finance, with his latest being Behavioral Finance, published in 2014. His broad expertise makes him a sought-after speaker on economic issues, and he regularly presents at high-profile events.
UVA Arts & Sciences
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What Drives Mortgage Rates? Exploring the Role of Treasury Yields and Market Forces

In this episode of Rubber Meets the Road Economics, Hunter Craig and Professor Edwin T. Burton dive into the potential economic crisis that may be on the horizon. They explore key economic signals like the Federal Reserve’s recent rate cuts, the rise in Treasury yields, and the impact on mortgage rates. Together, they analyze whether these indicators point to an impending financial downturn and what it means for everyday Americans. Professor Burton sheds light on how market forces dictate these economic shifts and offers a candid view of the Fed’s role, suggesting that it often follows market trends rather than leading them.
Key Topics:
The Federal Reserve’s September rate cut and why it happened.
How Treasury bill yields impact Federal Reserve policies.
The role of supply and demand in driving mortgage rates higher.
The rising divide between wealthy Americans benefiting from asset inflation and the struggles of working-class citizens.
Why rent control policies may hurt those they're intended to help.
A candid discussion on inflation, government debt, and what it all means for the future of the U.S. economy.
Quotes from the Episode:
“The market determines rates, not the Federal Reserve.”
“Inflation isn’t just a number; it’s the value of money dropping.”
“If supply goes up 50%, and demand stays the same, the value drops—simple economics.”
“The Fed’s role is more reactionary than most people realize.”
“Rent control sounds good but ultimately freezes out low-income people from communities.”
Financial Disclaimer:The information provided on this podcast is for educational and informational purposes only. It is not intended as financial advice and should not be relied upon as such. All opinions expressed by the hosts, guests, or participants are solely their own and do not reflect the views of any companies or organizations they may be affiliated with. We recommend that you consult with a qualified financial professional before making any financial decisions. Remember, investing and financial decisions carry risks, and it is important to do your own research.
About Professor Edwin Burton:Dr. Edwin T. Burton is a professor of economics at the University of Virginia, specializing in finance, with a focus on behavioral finance and the theory of financial markets. A distinguished academic and former Wall Street executive, Professor Burton earned his PhD from Northwestern University, studying under renowned mathematical economist Hirofumi Uzawa. He has held senior roles at Smith Barney and other major financial institutions and has taught at UVA since 1988. Professor Burton's extensive expertise makes him a leading authority on public policy, finance, and economics.

How Can the U.S. Address Its Growing Debt Crisis?

In this episode of Rubber Meets the Road Economics, Hunter Craig welcomes back Professor Edwin Burton to dive into the U.S. debt crisis, Federal Reserve policies, and interest rates. Professor Burton draws on his extensive academic background and professional experience to offer an insightful analysis of the U.S. economy’s trajectory. Together, they discuss the implications of the $35 trillion national debt, the potential for higher interest rates, and whether the U.S. is heading toward an economic disaster.
Key Discussion Points:
The significance of U.S. national debt climbing to $35 trillion and its future projections.
Professor Burton's educational background, including his PhD from Northwestern University and his experience studying under renowned economists.
The role of U.S. Treasury yields in predicting Federal Reserve interest rate cuts.
Why corporate bond sales are signaling economic caution and what that means for the future.
The limitations of modern monetary theory and its impact on inflation.
How government debt and spending are driving inflation and affecting individual savings rates.
What lessons can be learned from the debt crises in other countries, like Argentina and the Weimar Republic.
About Professor Edwin Burton:Dr. Edwin T. Burton is a professor of economics at the University of Virginia, specializing in finance, with a focus on behavioral finance and the theory of financial markets. A distinguished academic and former Wall Street executive, Professor Burton earned his PhD from Northwestern University, studying under renowned mathematical economist Hirofumi Uzawa. He has held senior roles at Smith Barney and other major financial institutions, and has taught at UVA since 1988. Professor Burton's extensive expertise makes him a leading authority on public policy, finance, and economics.
Connect with Us:
Subscribe and leave us a review on your favorite podcast platform
Share your thoughts with us at rubbermeetstheroadeconomicspod@gmail.com
Disclaimer:The information provided on this podcast is for educational and informational purposes only. It is not intended as financial advice and should not be relied upon as such. All opinions expressed by the hosts, guests, or participants are solely their own and do not reflect the views of any companies or organizations they may be affiliated with. We recommend that you consult with a qualified financial professional before making any financial decisions. Remember, investing and financial decisions carry risks, and it is important to do your own research.

Are We Headed Towards a Major Inflation Crisis?

In this episode of Rubber Meets the Road Economics, host Hunter Craig sits down with Professor Edwin Burton to discuss the reality behind unemployment data, inflation, and the impact of free trade. The conversation explores how government policies, interest rates, and debt accumulation affect the U.S. economy. With expert insights from Professor Burton, listeners will gain a deeper understanding of the economic forces shaping our world and how they might impact your financial decisions.
 
UPDATE: On Tuesday, Sept 17, Professor Burton is calling for a 50 BPS cut by the Federal Reserve tomorrow. 
Key Discussion Points:
Why unemployment data revisions are more common than you think
How inflation is measured and why it's so hard to pin down
The true cost of money printing and its impact on everyday Americans
Free trade vs. tariffs: What's really best for the economy?
Is the U.S. heading towards an economic crisis due to its debt?
Connect with Us:
Subscribe and leave us a review on your favorite podcast platform
Share your thoughts with us at rubbermeetstheroadeconomicspod@gmail.com
Disclaimer:The information provided on this podcast is for educational and informational purposes only. It is not intended as financial advice and should not be relied upon as such. All opinions expressed by the hosts, guests, or participants are solely their own and do not reflect the views of any companies or organizations they may be affiliated with. We recommend that you consult with a qualified financial professional before making any financial decisions. Remember, investing and financial decisions carry risks, and it is important to do your own research.
More about Professor Edwin Burton
Dr. Edwin T. Burton is a distinguished professor of economics at the University of Virginia, specializing in finance, with a particular focus on behavioral finance and the theory of financial markets. His academic career began in 1969, and he has held faculty positions at Cornell University and UVA since 1988. He has also been a key figure on Wall Street, holding senior roles at Smith Barney, Rothschild Financial Services, and Interstate Johnson Lane Corporation.
At UVA, Burton’s courses on finance are among the most popular in the Economics Department, where he has taught thousands of students over his career. In addition to his academic work, he has been deeply involved in public service, serving as the longest-standing trustee of the Virginia Retirement System and holding the position of chairman from 1997 to 2001.
Beyond his academic and professional contributions, Dr. Burton has authored multiple books on finance, with his latest being Behavioral Finance, published in 2014. His broad expertise makes him a sought-after speaker on economic issues, and he regularly presents at high-profile events, including business forums​(
UVA Arts & Sciences

The Truth About Treasury Bills, Notes, and Bonds

In this episode of Rubber Meets the Road Economics, Hunter Craig sits down with Professor Edwin Burton to explore the relationship between money supply, inflation, and government debt. Professor Burton explains how printing money leads to inflation, why U.S. Treasury auctions are so important, and what happens when debt grows too large. Are we headed toward an economic crisis similar to Argentina? Tune in to learn more about these pressing economic issues and how they may affect you.
Key Discussion Points:
How increasing the money supply causes inflation
What Treasury auctions reveal about government debt
The differences between Treasury bills, notes, and bonds
Can the U.S. avoid a debt crisis like Argentina's?
The future of Medicare, Social Security, and the national budget
About Professor Edwin Burton:
Dr. Edwin T. Burton is a professor of economics at the University of Virginia, specializing in finance with a focus on behavioral finance and the theory of financial markets. Professor Burton, a distinguished academic and former Wall Street executive, has held senior roles at Smith Barney, Rothschild Financial Services, and Interstate Johnson Lane Corporation. He has taught at UVA since 1988 and has authored multiple books on finance, including Behavioral Finance. Additionally, he served as the longest-standing trustee of the Virginia Retirement System and was chairman from 1997 to 2001. Professor Burton's extensive background makes him a leading expert on the intersection of public policy, finance, and economics.
Connect with Us:
Subscribe and leave us a review on your favorite podcast platform
Share your thoughts with us at rubbermeetstheroadeconomicspod@gmail.com
Disclaimer:The information provided on this podcast is for educational and informational purposes only. It is not intended as financial advice and should not be relied upon as such. All opinions expressed by the hosts, guests, or participants are solely their own and do not reflect the views of any companies or organizations they may be affiliated with. We recommend that you consult with a qualified financial professional before making any financial decisions. Remember, investing and financial decisions carry risks, and it is important to do your own research.

The Global Economic Impact of Rising Rates: Currency Shifts, Inflation, and the National Debt Crisis

In this episode, Dr. Edwin T. Burton discusses the recent global economic concerns, including the impact of Japan's rate hikes, the risks of the carry trade, and the challenges faced by the Federal Reserve in managing the U.S. economy. He also explores the consequences of rising national debt, the myths about deflation, and effective investment strategies during inflationary periods.
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Stay informed and stay engaged as we continue to explore the critical economic issues impacting our world today.
References:
U.S. Treasury and Interest Rates: For more information on U.S. Treasury securities and interest rates, visit the official U.S. Department of the Treasury website: www.treasury.gov
Federal Reserve: Learn more about the Federal Reserve’s policies and economic data at www.federalreserve.gov
National Bureau of Economic Research (NBER): For academic papers and research on inflation, deflation, and other economic topics, visit the NBER website: www.nber.org

Understanding the U.S. Debt Crisis: Insights from Dr. Edwin Burton

In episode 2, Hunter Craig and Dr. Edwin Burton discuss the U.S. deficit and debt crisis. They explore the projected budget deficit for 2024, the national debt predictions, and the challenges of balancing the budget. Dr. Burton emphasizes the need for healthcare and Social Security reforms, realistic economic forecasts, and thoughtful policy changes to navigate the economic challenges effectively.
"The national debt is currently around $30 trillion, but with obligations like the Social Security Trust Fund, the real fiscal debt amounts to $36 trillion, which is 123% of GDP." - Dr. Edwin Burton
"We have never spent this percentage of our GDP in peacetime, ever. It's never happened in history." - Dr. Edwin Burton
"Inflation, by definition, is the decline in the value of the currency. That's the definition." - Dr. Edwin Burton
"The free market is the fairest way to allocate anything. But once you decide we're going to ration things, the government's going to be fair, those are words that should terrify you." - Dr. Edwin Burton
"The solution is for both political parties to get together and say, okay, we can only spend 20% of our GDP. What are we going to do?" - Dr. Edwin Burton
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Navigating Inflation and Economic Challenges with Professor Edwin Burton

In Episode 1 of 'Rubber Meets The Road Economics,' investor Hunter Craig interviews Professor Edwin Burton from the University of Virginia. The discussion covers Professor Burton's extensive background in academia and Wall Street, the impact of inflation, the significant increase in the money supply, and current economic policies.
 
Key insights include the consequences of government spending, rising interest rates, and their implications on the economy. Professor Burton also shares personal anecdotes and historical comparisons to explain the complexities of modern economics.
 
00:00 Introduction to the Podcast
00:28 Meet Professor Edwin Burton
00:55 Professor Burton's Background
03:57 Discussion on Inflation and Money Supply
08:30 Impact of Government Spending
21:21 Historical Perspective on Interest Rates
29:42 Closing Thoughts and Famous Stories
31:11 Conclusion and Future Episodes
 

Introducing 'Rubber Meets The Road Economics' - A New Podcast by Hunter Craig and Professor Edwin T. Burton

We're excited to introduce 'Rubber Meets The Road Economics,' a podcast that delves into the dynamic world of economics and its real-world impacts. Hosted by investor Hunter Craig, each episode features insightful conversations with renowned economics professor, Dr. Edwin Burton from UVA.
Discover how globalization, technology, behavioral economics, and policy decisions shape our lives and the economy. Whether you're an economics enthusiast or just curious, this podcast offers clear, engaging discussions that will deepen your understanding of the financial forces at play.
Listen to our trailer now and subscribe on your favorite podcast platform. Follow us on social media for updates and bonus content. Get ready to navigate the world of economics with clarity and confidence. This is 'Rubber Meets The Road Economics.'