We Study Billionaires - The Investor’s Podcast Network TIP365: Has Inflation Peaked? w/ Richard Duncan
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Jul 30, 2021 
Trey Lockerbie chats with Richard Duncan, a global macroeconomist and author known for his insights on economics and credit growth. They delve into the potentially fading influence of capitalism and the crucial role of credit in economic expansion. Duncan discusses whether inflation has peaked and explores the delicate balance between government debt and interest rates. Listeners will gain fascinating perspectives on navigating current economic challenges, historical shifts in monetary policy, and the urgent need for strategic investments in future technologies.
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Creditism’s Rise
- Capitalism has evolved into "creditism", driven by credit creation and consumption instead of saving and investment.
- This shift occurred after the US abandoned the gold standard 50 years ago, leading to an explosion of credit growth.
Great Depression vs. 2008
- During the Great Depression, the government's laissez-faire approach worsened the economic downturn, leading to a 45% contraction.
- Only with the massive government spending of World War II did the depression end.
Globalization's Impact on Inflation
- Globalization allows the US to bypass domestic bottlenecks by importing goods from countries with lower wages.
- This has led to disinflationary pressures and enabled larger budget deficits without significant CPI inflation.