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TIP615: Current Market Conditions w/ Richard Duncan

We Study Billionaires - The Investor’s Podcast Network

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The Shift from Gold to Credit: Economic Transformations

This chapter examines the pivotal changes in the U.S. financial system since the 1971 abandonment of the gold standard, which has led to a reliance on credit and consumption rather than saving and investment. It discusses the implications of these changes for inflation management, trade balances, and economic stimuli, especially in light of historical economic events like the Great Depression and the 2008 financial crisis. Additionally, the chapter analyzes the recent surge in government borrowing and its potential impact on the economy, highlighting how weak credit growth could signal a forthcoming recession.

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