Category Archives: How my views differ from those of other economists and other schools of thought.

August 6, 2016

Libertarian Murray Rothbard Was Dangerously Wrong

In 1963, Murray Rothbard published a book called America’s Great Depression, in which he argued that President Herbert Hoover made the Great Depression worse by introducing too many government policies to support the economy, when “the proper injunction to government in a depression is cut the budget and leave the economy strictly alone.” Although considered…
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May 6, 2016

Macro Voices Podcast: Highly Recommended

I highly recommend you listen to this free MacroVoices podcast.  It explains the real origins of our global economic crisis.  It also describes how the crisis is likely to play out during the years ahead. Richard Duncan: What the history of monetary policy tells us about our future Erik Townsend welcomes Richard Duncan to MacroVoices….
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April 25, 2016

America’s Future: When’s The Day Of Reckoning?

This interview was conducted by Andrew Mazzone, President of the Henry George School of Social Science.  Click on the link below to watch the video. Here are some of the topics we discussed: What caused the global economic crisis? Was the crisis the result of a plan or did it just happen by chance? What…
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April 18, 2016

Our Economic and Political Problems Look Set To Multiply

Seven years of weak credit growth in the US have brought the world to the brink of a deflationary global recession. As a result, political instability is increasing and geopolitical tensions are on the rise. In the new Macro Watch video, uploaded today, we first consider why the increase in debt in the United States…
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March 11, 2016

Are The Central Banks Out Of Ammunition?

Yesterday, the European Central Bank expanded its QE program by one-third and cut bank deposit rates deeper into negative territory. How did the markets react? Stock prices fell, while bond yields and the Euro rose – the exact opposite of what the ECB had expected and hoped for. Is this yet another indication that central…
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January 24, 2016

How My Career Shaped My Views On The Global Economy

In the new Macro Watch video uploaded today, I describe how my 30-year career in the investment industry has shaped my views on what drives the global economy and the financial markets. There have been several important “aha” moments: Soon after I began my career in Hong Kong in 1986, I realized that ultra-low wages…
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December 3, 2015

Interview: Austrian Economics Would Destroy The World

I could have used many different headlines to announce this interview (which was conducted by Cris Sheridan for the outstanding financial website, Financial Sense). I could have used: “Pray For The Dollar Standard” “How Our International Monetary System Works” “Why The Chinese Yuan Will Never Be An Important International Reserve Currency” or, “There Will Be…
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April 16, 2015

Watch Free Video: QE Is Debt Cancellation

Yesterday, I send a blog with a link to a new CNBC interview and a second link to a free video explaining the details of how central banks have effectively cancelled trillions of dollars of government debt and are in the process of cancelling trillions more. The link to the second video did not work,…
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April 15, 2015

New CNBC Interview: QE Is Debt Cancellation

This morning I was interviewed on CNBC Asia in Hong Kong.  We discussed how central banks around the world are effectively cancelling trillions of dollars worth of government debt.  Here’s the link to the interview: https://video.cnbc.com/gallery/?video=3000371111 This is a very important subject with incredibly important policy implication, but few people understand it.  I hope you…
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April 7, 2015

Has The Next Recession Begun?

Recent economic data has been startlingly bad. The Atlanta Fed’s GDPNow model suggests US GDP will grow by only 0.1% during the first quarter. The financial markets are positioned for interest rate hikes. How would they respond if this new economic “soft patch” turns into a recession – as I expect it will? If the…
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January 17, 2015

Recession Alert: Weak Credit Growth Points To US Recession Ahead

The key to understanding the economy and the financial markets in the 21st Century is this: Credit growth drives economic growth. From 1952 to 2008, every time credit (adjusted for inflation) grew by less than 2% the United States went into recession and did not recover until there was a new surge of credit expansion….
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November 22, 2014

The McAlvany Interview: QE 4? “They’ll have to.”

The McAlvany Weekly Commentary is simply one of the very best sources of information and analysis on monetary, economic and geo-political news available to the public today. Recently, David McAlvany invited me back to his show to discuss the state of the global economy at the end of 2014. It is always a pleasure to…
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October 17, 2014

Bullard’s Call To Extend QE Halts Market Panic

Yesterday morning, St Louis Fed President James Bullard stopped the stock market crash in its tracks. In a live interview on Bloomberg Television, he said: “…I think a reasonable response of the Fed in this situation would be to … go on pause on the taper…” (i.e. to extend Quantitative Easing). When he began that…
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September 9, 2014

How Strong Is The US Economic Recovery?

A new Macro Watch video has been uploaded and is now ready to watch. Judging from most press reports, it would be easy to form the impression that the US economy is booming. It’s not. This video presents a balanced assessment of the health of the US economy. After $6 trillion of budget deficits, 0%…
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July 27, 2014

WATCH RICHARD DUNCAN’S SPEECH: How Capitalism Died & Where That Leaves Us

Capitalism died during the two World Wars. In this speech, I discuss the transformation of our economic system from Capitalism to Creditism during the Twentieth Century. I also describe what may come next, highlighting the extraordinary possibilities Creditism presents, as well as the catastrophic consequences that would follow from its collapse. You need not be…
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September 26, 2013

New Radio Interview: Why No Taper?

Last week I was in Kuala Lumpur.  There I had an interesting conversation with Julian Ng  of BFM radio.  We discussed: Why the Fed decided not to taper QE How the economy really works now The purpose and goal of Capitalism, and Why it is impossible to return to a Gold Standard. To listen to…
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November 13, 2012

China consensus is dead wrong, says Duncan

Please find below an interview posted on MarketWatch today. Bangkok-based economist and author Richard Duncan says a chorus of economists pointing to a rebound in China may well be proven wrong, as he believes the nation is headed into a serious crisis. Since the darkest hours of the 2008 global economic meltdown, China has made…
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October 18, 2012

The Capital Account Interview: The Death of Capitalism and Everything After

I recently had a lively conversation with charismatic Lauren Lyster on Capital Account in Washington D.C. We discussed the death of Capitalism in World War I, the rise of Creditism, QE3, gold and how to avoid a new Great Depression. To watch this video, Google “Capital Account Richard Duncan” and it will pop up.