We Study Billionaires - The Investor’s Podcast Network TIP424: How to Finance The Next American Century w/ Richard Duncan
4 snips
Feb 20, 2022 
In this engaging discussion, macro-economist Richard Duncan, author of 'The Money Revolution,' shares insights on the evolving economy. Richard tackles globalization's role in wage inflation and supply chain disruptions. He explains how the Fed profits and argues that the Treasury should play a more pivotal role in future economic planning. His ambitious proposal for a $10 trillion investment program aims to secure the U.S.'s economic dominance without burdening taxpayers. Tune in for thought-provoking ideas on financial strategy and national competitiveness!
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Inflation and Globalization
- Inflation has dropped since the early 1980s due to globalization and increased US trade deficits.
- COVID-19 disruptions caused a partial breakdown of globalization, thus increasing inflation.
Globalization and US Reserve Currency
- Globalization and the US reserve currency status are intertwined, as large trade deficits distribute dollars globally.
- China's economic transformation demonstrates the impact of these dollars fueling growth through credit creation.
Wage Inflation and Labor Shortages
- Labor shortages, driven by COVID-19 concerns, have temporarily shifted the balance of power towards labor, leading to wage increases.
- This shift disrupts the decades-long trend of shrinking labor share in profits due to globalization.
