Money and Finance
“Credit-induced boom and bust cycles are not new. What makes this one so extraordinary is the magnitude of the credit expansion that fed it.” –Richard Duncan, The New Depression
- Richard Duncan Quote
“In recent decades, the usefulness of the quantity theory of money as a tool for analyzing changes in the economy has broken down because the extraordinary expansion of credit has made money irrelevant in comparison. The money supply is no longer the...
- Richard Duncan Quote
Kyle Bass made a similar point to the quote below on page 5 of his latest letter. “There is a limit to how much debt an economy can bear. That limit is determined by the economy’s ability to generate sufficient income to service the debt. Exhibit...
- Richard Duncan Quotes
“Credit did more to the U.S. economy than make it grow. It also radically changed its composition. Credit allowed America to buy all the manufactured goods it desired from abroad and credit financed the procurement of services at home. It could be argued...
- Richard Duncan Quote
...
- Jeff Glor Interviews Richard Duncan (video)
Jeff Glor talks to Richard Duncan about, "The New Depression: The Breakdown of the Paper Money Economy Jeff Glor: What inspired you to write the book? Richard Duncan: I was inspired when I read Irving Fisher's "The Purchasing Power of Money" (1912)...
Money and Finance
Richard Duncan quote
“Credit-induced boom and bust cycles are not new. What makes this one so extraordinary is the magnitude of the credit expansion that fed it.” –Richard Duncan, The New Depression
- Richard Duncan Quote
“In recent decades, the usefulness of the quantity theory of money as a tool for analyzing changes in the economy has broken down because the extraordinary expansion of credit has made money irrelevant in comparison. The money supply is no longer the...
- Richard Duncan Quote
Kyle Bass made a similar point to the quote below on page 5 of his latest letter. “There is a limit to how much debt an economy can bear. That limit is determined by the economy’s ability to generate sufficient income to service the debt. Exhibit...
- Richard Duncan Quotes
“Credit did more to the U.S. economy than make it grow. It also radically changed its composition. Credit allowed America to buy all the manufactured goods it desired from abroad and credit financed the procurement of services at home. It could be argued...
- Richard Duncan Quote
...
- Jeff Glor Interviews Richard Duncan (video)
Jeff Glor talks to Richard Duncan about, "The New Depression: The Breakdown of the Paper Money Economy Jeff Glor: What inspired you to write the book? Richard Duncan: I was inspired when I read Irving Fisher's "The Purchasing Power of Money" (1912)...