- Precious metals are a key focus, with gold behaving in a steady, healthy bull market while silver experienced a sharp and unstable surge.
- The gold-to-silver ratio was discussed as historically stretched and now reverting toward long-term norms, helping explain silver's outperformance.
- Silver was highlighted as both a monetary metal and a critical industrial commodity listed by the U.S. government as strategically important.
- The parabolic nature of silver's recent price action is risky and vulnerable to sharp pullbacks or policy interventions like margin hikes.
- Investors should define why they own precious metals—portfolio balance, trend participation, or protection against monetary risk.
- Fear-driven investing and "end of the world" thinking are harmful to rational portfolio decisions.
- The idea of an "inflationary boom" or "run-it-hot" economic strategy was presented as the likely policy path forward.
- Big tech is increasingly fragile and potentially misaligned with an inflationary-growth regime.
- International markets were noted as having recently outperformed U.S. equities despite America-first political narratives.
- Valuations in U.S. equities were described as high and structurally fragile, even as the bull market remains intact.
- Technicals and momentum are dominating fundamentals in the current market cycle.
- Tax considerations are an often-overlooked but critical factor in portfolio construction and asset selection.
- Bitcoin's unique tax treatment and classification as property offer planning advantages versus securities.
- Be wary about complacency, overconcentration, and narrative-driven investing in a late-cycle market.
The Best Ways to Invest in the Run It Hot Economy
Money Tree Investing
Money Tree Investing Podcast
4.6 • 732 Ratings
🗓️ 21 January 2026
⏱️ 53 minutes
🧾️ Download transcript
Summary
We're in the middle of a run it hot economy. Today our discussion ranged from geopolitics into markets, including precious metals. Silver's recent surge is best understood as a reversion toward historical gold–silver ratios rather than a knowable fundamental catalyst. Silver's parabolic move looks unstable compared to gold's healthier, slower uptrend. But no one can truly know why prices move, so investors should be clear about why they own precious metals since that purpose should drive allocation size and risk tolerance. We also talk macro conditions, the U.S. may be pursuing an "inflationary boom" or "run it hot" strategy to offset high debt and valuations, which would favor real assets like commodities, gold, and real estate over long-duration bonds. It's important to manage fear, avoid extreme predictions, stay diversified, and pay close attention to structure, incentives, taxes, and shifting global leadership rather than relying on narratives or past performance.
We discuss...
Today's Panelists:
Kirk Chisholm | Innovative Wealth
Douglas Heagren | Mergent College Advisors
Follow on Facebook: https://www.facebook.com/moneytreepodcast
Follow LinkedIn: https://www.linkedin.com/showcase/money-tree-investing-podcast
Follow on Twitter/X: https://x.com/MTIPodcast
For more information, visit the show notes at https://moneytreepodcast.com/run-it-hot-economy-783
Transcript
Click on a timestamp to play from that location
| 0:00.0 | Welcome to the Money Tree Investing Podcast. |
| 0:04.0 | Stock market, wealth, personal finance, value stocks, invest in your life. |
| 0:10.0 | Hello, Smart MoneyT Podcasts, |
| 0:12.0 | listeners, welcome to this week's show. |
| 0:14.0 | My name is Kirk Chisholm. I'll be your host, and today I'm joining with Doug. |
| 0:17.0 | Hey, Doug. |
| 0:18.0 | Hey, Kirk. How you doing today? |
| 0:19.0 | Doing great because I don't live in Minnesota. Hey, listen, I want to start today with a controversial statement. I am tired of ice. It is infiltrated cities all over America, especially of North. It's everywhere. Sidewalks, driveways, parking lots, streets. It's lurking. It's just waiting for you to slip up. And I know this |
| 0:38.2 | I'm going to sit well with people listening, mostly hockey players, snowmobilers, and ice fishermen. I get it. You've had a great run. But the rest of us, we're done. Christmas is over. The novelty is worn off. It's officially time to put this ice away. I'm ready to start talking spring, Kirk. Well, actually, I'm looking forward |
| 0:55.0 | to ice. My ice is melted in my drink. And my backyard, it's been like 47 degrees for last few days. |
| 1:01.1 | My backyard ice rink is basically a winter pool again. So I need more ice. I need ice. The pushback. |
| 1:08.0 | I knew I was going to get it today. Well, it is once again cold here in the Northeast. Stuff is freezing again, and I walked the dogs. I'm like, God, damn. I had to get back inside. Well, your puppies are looking up at you like, what the is this? All our ice is melted. It was like in the 40s. It was crazy. My ice rink was a disaster. So lots of rain. But actually, we're going to have a cold snap for the next week or so. So I'm excited about that. You can actually escape my backyard again. Yeah, it's coming back. The last couple weeks look pretty gold. That's exciting. Well, I know you got a lot going on in the land of a thousand frauds, but I'm sure we |
| 1:45.3 | get through it, Doug. |
| 1:46.3 | The reality is there is one thing that is always true. |
| 1:49.6 | It's kind of like they say that, you know, if we have a nuclear fallout, that cockroaches |
| 1:53.2 | and copperware, the one thing that coming out of this that is absolutely guaranteed to be |
| 1:58.0 | true and I'm already seeing it is the rhetoric on extremes. |
| 2:03.0 | If you're not with me, you're against me, shut me down. |
| 2:06.8 | And that's the part that I'm, I think most of us going back to like the late aughts, |
| 2:13.5 | you know, the late teens, sorry, the late teens through COVID are all getting tired of. |
| 2:18.0 | It's like dialogue. I play sentence with someone who's told me last night their friend of theirs actually |
| 2:22.2 | was picked up off the street and has now disappeared. All they know, they're in a detention center |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from Money Tree Investing Podcast, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of Money Tree Investing Podcast and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.