Macro Watch


Economics Newsletter Video

Macro Watch is a video newsletter published quarterly by Richard Duncan. It analyzes trends in credit growth, liquidity and government policy in order to anticipate their impact on economic activity and asset prices.

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Category Archives: The Present: On The Brink Of Disaster

New Radio Interview: Why No Taper?

September 26, 2013

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  Continue Reading »

Watch Richard Duncan’s New Course: How The Economy Really Works

August 15, 2013

My second video Course is now available on Udemy.com. It’s called: How The Economy Really Works. This 2-hour Course deals with the present. It explains how our economic system works now. It’s divided into 11 lectures. Lecture 1: What’s Changed? Lecture 2: Don’t Call It Capitalism Lecture 3: Who’s In Charge? Lecture 4: GDP 101  Continue Reading »

How The Economy Really Works

May 10, 2013

So far, 450 of you have signed up for my on-line video course, Capitalism In Crisis: The Global Economic Crisis Explained. Thank you! I appreciate your interest and your support. As you know, Capitalism In Crisis focuses on the past, on the causes of the crisis. Today, I would like to let you all know  Continue Reading »

When Will This New Depression End?

March 8, 2013

The following comments, written specifically for the Spanish language edition of The New Depression, were written in early March 2013, sixteen months after the original manuscript was completed at the end of October 2011. In The New Depression, I wrote that the fate of the global economy depended on whether credit would once again begin  Continue Reading »

How Close Are We to New Great Depression?

July 25, 2012

Last week I was in London to promote The New Depression: The Breakdown Of The Paper Money Economy. The week began at 7:30 Monday morning on Squawk Box Europe. Please find the link below. I was told this clip was the most watched segment that day AND the following day. http://www.cnbc.com/id/48193471/How_Close_Are_We_to_New_Great_Depression http://www.cnbc.com/id/48193471/How_Close_Are_We_to_New_Great_Depression

A “Deer In The Headlights” Policy Freeze?

August 4, 2011

The agreement reached to raise the US government debt ceiling may mark the beginning of the kind of “deer in the headlights” policy freeze described in the last chapter of The Dollar Crisis. If that agreement is fully implemented, this depression is going to become considerably worse. The excerpts below are taken from The Dollar  Continue Reading »

The Ten Trillion Dollar Milestone

July 18, 2011

A milestone on the road to economic ruin was reached last week. Total Foreign Exchange Reserves topped $10 trillion. That means central banks have created the equivalent of $10 trillion of fiat money that they have used to buy the currencies of other countries. That figure does not include the money central banks have created  Continue Reading »

The Corruption Of Capitalism, Preface to the 2011 Edition

June 16, 2011

Preface to the 2011 Edition of The Corruption of Capitalism [Now available on Kindle and NOOK] From the early 1980s, debt-fuelled consumption in the United States drove global economic growth and facilitated the spread of globalization. Economic policy was formulated based upon the belief that markets are most efficient when left unregulated. Exchange rates floated,  Continue Reading »

An Interview with Richard Duncan on China, Europe, & QE3

June 1, 2011

The following interview was published in THE EDGE SINGAPORE on May 30, 2011 By ASSIF SHAMEEN Richard Duncan, author of the seminal The Dollar Crisis: Causes, Consequences, Cures, an international bestseller that predicted the recent global economic crisis with extraordinary accuracy, commands a lot of respect among Asian policymakers. Armed with a Master’s degree in  Continue Reading »

Credit Growth Drives Economic Growth, Until It Doesn’t

May 19, 2011

The single most important thing to understand about economics in the age of paper money is that credit growth drives economic growth. Before the breakdown of the Bretton Woods international monetary system in 1971, there was a difference between money and credit. There no longer is. Paper dollars and US treasury bonds denominated in paper  Continue Reading »

China: Every Boom Busts

May 3, 2011

Since the beginning of the Industrial Revolution, every economic boom has been followed by an economic bust. The bigger the boom, the bigger the bust. Over the past 20 years, China has experienced the greatest economic boom in history. It is only a matter of time before the great Chinese bubble pops. China’s economic model  Continue Reading »

BERNANKE’S CHOICE

March 21, 2011

For twelve years the US trade deficit financed the US budget deficit and held down US interest rates. From 1996 to 2008, the US trade deficit exceeded the government’s budget deficit every year. The dollars sent abroad to pay for the trade deficit were accumulated by the central banks of the trade surplus countries, who  Continue Reading »

The Great Depression and The New Depression

February 21, 2011

A worldwide economic depression began in 2008. This New Depression was caused by the same factors as the Great Depression and followed exactly the same pattern. Thus far, however, the New Depression has been milder than the Great Depression because the policy response this time has been completely different. Both depressions were caused because governments  Continue Reading »

What Every American Needs To Understand About The Economy

January 19, 2011

As the United States debates its economic future in light of large government budget deficits, it is important that the public has a clear understanding of how the economy works. A good starting point for understanding how the economy works is to understand how it is measured. Economies are measured in terms of their Gross  Continue Reading »

THE PRESENT: ON THE BRINK OF DISASTER

December 15, 2010

The global economy is in crisis. Government intervention on a multi-trillion dollar scale is the only thing preventing a worldwide collapse into a new great depression. This crisis is structural, not cyclical. At its core is the fact that global production, swollen by limitless credit denominated in fiat money, greatly exceeds the consumption that can  Continue Reading »