Episode description
Richard Duncan, Economist and best-selling Author, joins us for a conversation on new ways of thinking about economic growth and prosperity. We discuss the historical aspects of growth and how credit creation and consumption generate economic growth, how foreign central banks create credit and how it has created an economic bubble in the American economy, how the U.S. economy has become addicted to credit growth and how the combination of a negative wealth effect and credit contraction poses a threat to the economy. We also the discuss the importance of the CHIPS and Science Act, how China could become the new superpower of the world and what the U.S. can do to prevent it, what a multi trillion dollar investment could mean for the American economy and much more.
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Episode TimeStamps:
00:00 - Intro
04:29 - Introduction to Richard Duncan and his book
15:35 - Credit creation and consumption - a long term growth strategy?
22:54 - The problems with foreign central bank credit
31:45 - Reflecting on Alan Greenspan’s response
34:02 - Addicted