TIP624: Studying Financial History w/ Clay Finck

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 19 April 2024

⏱️ 58 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

On today’s episode, Clay discusses various financial crises from the past as discussed in the book This Time is Different by Carmen Reinhart and Kenneth Rogoff. As the saying goes, from a historical perspective, there is nothing new except what is forgotten. Today’s episode will help shed light on where our world might be heading in light of studying history. IN THIS EPISODE YOU’LL LEARN: 00:00 - Intro 06:48 - The primary types of financial crises. 08:13 - When the debt levels of a country reach an unsustainable level. 27:00 - An overview of currency debasements and currency devaluations. 27:24 - How countries tend to handle unsustainable debt levels. 30:36 - An overview of the Great Financial Crisis. 47:32 - How the interests of governments and currency holders are at odds with each other. Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences. BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Books mentioned: This Time is Different, Broken Money, The Price of Tomorrow Episode Mentioned: TIP587: Stock Market Crises & Bubbles w/ Brendan Hughes | YouTube Video. Related Episode: TIP574: Broken Money w/ Lyn Alden | YouTube Video. Follow Clay on Twitter. Check out all the books mentioned and discussed in our podcast episodes here. Enjoy ad-free episodes when you subscribe to our Premium Feed. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: River Toyota CI Financial Meyka Fundrise Yahoo! Finance Long Angle iFlex Stretch Studios Public American Express Shopify HELP US OUT! Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it! Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

Click on a timestamp to play from that location

0:00.0	You're listening to TIP.
0:03.0	Hey everyone, welcome to the Investors Podcast.
0:06.0	I'm your host, Clay Fink, and today I wanted to talk about the lessons I picked up from this book,
0:11.0	called This Time is Different, by Reinhart and Kenneth Rogoff, which
0:15.4	walks through various financial crises in the past and how they might relate to today's market
0:20.2	conditions.
0:21.2	I thought this book was quite relevant because I think many in the audience
0:24.4	would agree with me that we live in pretty crazy times. We just came out of a period of
0:29.3	over a decade of interest rates being near zero. The Federal Reserve increased their balance sheet from
0:34.7	800 billion in 2008 to over 7.5 trillion here in early 2024, and the U.S. federal debt has nearly doubled in the past decade as it now sits at over $34 trillion in growing very quickly.
0:48.0	There's this quote in the book from Rose Burton that states, I quote,
0:52.0	there is nothing new except what is forgotten, end quote.
0:56.2	So this book might help us clear up where things are headed for us in the future, given how things
1:00.6	have ended up in these various periods in the past.
1:03.9	At the end of this episode, I'm also going to be talking about Lynn Alden's book, Broken
1:08.0	Money, which also ties in well with the topics discussed.
1:11.6	With that, I bring you today's episode
1:13.3	on this time is different and broken money.
1:15.8	Celebrating 10 years and more than 150 million downloads. You are listening to the
1:24.2	Investors Podcast Network. Since 2014 we studied the financial markets and read the books
1:30.0	that influence self-made billionaires the most.
1:32.8	We keep you informed and prepared for the unexpected.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from Stig Brodersen, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of Stig Brodersen and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.