Get Rich Education 391: Recession Warning, Uncertainty, and Destroying Wealth with Richard Duncan
Russia’s invasion of Ukraine threatens to make inflation and supply chain reliability worse.
Amidst this backdrop, today’s guest, Richard Duncan, discusses prospects for a US recession.
Richard reiterates that the US needs credit growth of at least 2% annually (inflation-adjusted) to avoid a recession.
In a recession, nearly every asset class would be affected.
The wealth-to-income ratio’s importance is discussed.
The Fed has begun hiking interest rates. They soon plan to begin destroying dollars with quantitative tightening.
Richard wrote a new book, The Money Revolution. It includes a history of the Fed, and points out that China is positioned to become more powerful than the US.
But the US can stay in power if it creates tons of money in order to finance infrastructure, green energy, biotech, nanotech, and more innovation.
Richard maintains that capitalism no longer drives the economy. It’s “creditism” and “consumerism”.
I ask Richard about the risk of creating more dollars than production and innovation.
Contrary to seemingly everybody, Richard believes that the Fed is a force for good.
Resources mentioned:
Show Notes:
Get MacroWatch for a 50% discount with the code “GRE”:
www.RichardDuncanEconomics.com
Richard’s new book:
Get mortgage loans for investment property:
RidgeLendingGroup.com or call 877-74-RIDGE
JWB’s available Florida income property:
To learn more about eQRPs: text “RICH” to 307-213-3475 or:
By texting “RICH” to 307-213-3475 and opting in, you will receive periodic marketing messages from eQRP Co. Message & data rates may apply. Reply “STOP” to cancel.
New Const. Florida SFHs & multifamilies:
Best Financial Education:
Get our free, wealth-building “Don’t Quit Your Daydream Letter”:
www.GetRichEducation.com/Letter
Top Properties & Providers:
Follow us on Instagram:
Keith’s personal Instagram: