Money and Finance
- Richard Duncan Quotes
Longer excerpt from The New Depression (taken from my Kindle highlights, so the excerpts aren’t necessarily the paragraphs I have put them in below, and there may be things in between that I didn’t highlight).The quantity theory of money held that...
- 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
Another longer excerpt from The New Depression (taken from my Kindle highlights, so the excerpts aren’t necessarily the paragraphs I have put them in below, and there may be things in between that I didn’t highlight). I've been posting a lot of...
- Richard Duncan On The Fed's Flow Of Funds
“The Fed’s Flow of Funds Accounts provides a near-comprehensive set of information about the stock and flow of credit in the United States. Because credit growth now drives economic growth, the flow of funds is the key to understanding developments...
- Richard Duncan Quote
“In 1968, the ratio of credit to gold was 128 times and the ratio of credit to the money supply was 2.4 times. By 2007, those ratios had expanded to more than 4,000 times and 6.6 times, respectively. Notice, also, the extraordinary expansion of the...
Money and Finance
Richard Duncan quote
“When the United States removed the gold backing from the dollar in 1968, the nature of money changed. The result was a proliferation of credit that not only transformed the size and structure of the U.S. economy but also brought about a transformation of the economic system itself. The production process ceased to be driven by saving and investment as it had been since before the Industrial Revolution. Instead, borrowing and consumption began to drive the economic dynamic. Credit creation replaced capital accumulation as the vital force in the economic system.” –Richard Duncan, The New Depression
- Richard Duncan Quotes
Longer excerpt from The New Depression (taken from my Kindle highlights, so the excerpts aren’t necessarily the paragraphs I have put them in below, and there may be things in between that I didn’t highlight).The quantity theory of money held that...
- 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
Another longer excerpt from The New Depression (taken from my Kindle highlights, so the excerpts aren’t necessarily the paragraphs I have put them in below, and there may be things in between that I didn’t highlight). I've been posting a lot of...
- Richard Duncan On The Fed's Flow Of Funds
“The Fed’s Flow of Funds Accounts provides a near-comprehensive set of information about the stock and flow of credit in the United States. Because credit growth now drives economic growth, the flow of funds is the key to understanding developments...
- Richard Duncan Quote
“In 1968, the ratio of credit to gold was 128 times and the ratio of credit to the money supply was 2.4 times. By 2007, those ratios had expanded to more than 4,000 times and 6.6 times, respectively. Notice, also, the extraordinary expansion of the...