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TIP615: Current Market Conditions w/ Richard Duncan
We Study Billionaires - The Investor’s Podcast Network
The Shift from Capitalism to Creditism
Credit creation and consumption have replaced capitalism as the driving force of the global economy post the shift from the gold standard in 1971. This transition has led to rapid economic growth and significant changes in the world, transforming countries like Shanghai and enabling China's rise. Understanding that credit now fuels economic growth is crucial, as a lack of credit results in recession and a significant contraction leads to a depression. The shift to a credit-driven economy is crucial to grasp, as it marks a fundamental change in our economic system.
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