474: America's Eventual Recession Reckoning with Richard Duncan
Get Rich Education
Keith Weinhold
4.3 • 602 Ratings
🗓️ 6 November 2023
⏱️ 51 minutes
🔗️ Recording | iTunes | RSS
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Summary
Will higher interest rates and inflation persist for a decade?
An upcoming recession always seems to be perpetually just around the corner. Learn when it should finally happen.
Macroeconomist Richard Duncan joins me. I tell you a funny story about when he was GRE's first-ever guest in 2014.
Currency is now being destroyed—called Quantitative Tightening.
Negatives for future asset prices: QT, higher rates, student loan debt repayment, stronger dollar, asset prices already inflated, high personal asset-to-income ratios, higher oil prices, looming government shutdown.
Positives for future asset prices: monetary stimulus hangover, high employment, CHIPS and Science Act, Inflation Reduction Act, The AI Revolution, prospect of lower future inflation and interest rates.Â
Richard provides his opinion and insight on today's real estate market.
If inflation-adjusted credit growth is less than 2%, expect a recession. If it goes negative, expect a depression.
Get a 50% Discount on Richard Duncan's MacroWatch video newsletter. Use the code "GRE" at:Â RichardDuncanEconomics.com
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Transcript
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| 0:00.0 | Welcome to GRE. I'm your host Keith Whitehold. Today's prominent macroeconomist feature guests will tell us both when and why he believes the recession will begin and when interest rates will be cut. Also, could we have higher interest rates and inflation for an entire decade? Learn how all of this affects your financial future today on Get Rich Education. |
| 0:28.3 | You're listening to the show that has created more financial freedom than nearly any show in the world. |
| 0:35.7 | This is Get Rich Education. |
| 0:44.2 | Welcome to GRE from Boston, Massachusetts to Austin, Texas, and across 100 nations worldwide. |
| 0:50.5 | I'm Keith Weinhold, and you're listening to Get Rich Education. |
| 0:55.8 | After the guest interview today, I'm going to have some more comments, especially on inflation and what I call |
| 1:01.3 | monetary vandalism. Today's guest is also the first guest that we ever had on this show |
| 1:09.7 | nine years ago and that began a relationship where |
| 1:13.0 | he's become a GRE regular here. And you know, I'll just share something with you. Back in |
| 1:20.0 | 2014, when this show began, I felt like I had a message that you need to hear, but I did not know if this show would become a success in any form in those early days. |
| 1:33.8 | In fact, back in 2014, it seemed like I regularly had to explain to people what a podcast even is, but I don't need to do that anymore. After the first six episodes were complete |
| 1:48.2 | monologues from me, no guests, I had my friend John Collins helping me with the show at that time |
| 1:53.7 | and we thought about reaching out to some of the nations and world's most prominent guests |
| 1:58.3 | about an appearance here, and I I was as it turns out inside |
| 2:03.2 | Alaska's Fairbanks International Airport of all places in November of 2014 |
| 2:09.5 | when I got a text from my buddy John there were just four words and those words |
| 2:15.4 | were dude we got Duncan with an exclamation point at the end. |
| 2:21.3 | And I replied to him to clarify back then, like, do you mean that Richard Duncan is coming on to the show? |
| 2:28.0 | So, yes, internationally revered economist Richard Duncan was our first ever guest back in episode seven. And it's also, |
| 2:35.4 | like, that was the first professionally recorded interview that I ever did or produced. And I still |
| 2:43.8 | remember, before that interview, I was Googling things like how to interview someone or how to interview a guest. |
| 2:52.6 | And I remember that all that kept coming up was like how to nail a job interview if you were interviewing to try to get a job. |
... |
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