Rich Dad Radio Show, Released on 2/9/22

Our economic system is “Creditism.” The economy has become addicted to credit growth, and only government borrowing can make it continue to grow. The private sector just doesn’t have enough income to keep credit growing. Today’s guest says if credit doesn’t grow by at least 2% each year, the country goes into a recession.

Richard Duncan is the author of the new book “The Money Revolution: How to Finance the Next American Revolution” and he says, “In 2008, when the bubble did blow up, I expected it to blow up, but I expected a depression. But what we saw instead was the U.S. government borrowed trillions of dollars, and pumped it into the economy, and the Fed created 3.6 trillion dollars during the first 3 rounds of QE and bought those government bonds, financing the government debt. If the Fed had not bought the government bonds, created all that money, the government couldn’t have borrowed so much money without pushing interest rates to an extremely high level. All that government borrowing would have pushed interest rates up and the high-interest rates would have crushed the economy. This combination of trillions of dollars of government borrowing and spending, and money printing to finance the government spending, they re-inflated the bubble. It’s been an exact replay of that in 2020 and 2021.”

Hosts Robert and Kim Kiyosaki and guest Richard Duncan discuss how the Fed is shifting to “Quantitative Tightening,” and the solution to solve this economic crisis.

Richard Duncan is an author & economist who has worked as an equities analyst in Hong Kong, served as global head of investment strategy at ABN AMRO Asset Management in London, worked as a financial sector specialist for the World Bank in Washington D.C., and headed equity research departments for James Capel Securities and Salomon Brothers in Bangkok. He also worked as a consultant for the IMF in Thailand during the Asia Crisis. He is now chief economist at Blackhorse Asset Management in Singapore. Richard Duncan is the author of three books on the global economic crisis, the most latest being The New Depression: The Breakdown of the Paper Money Economy

Robert Kiyosaki is best known as the author of Rich Dad Poor Dad, the #1 personal finance book of all time. His book titles hold four of the top ten spots on Nielsen Bookscan List’s Life-to-Date Sales from 2001-2008 alone. Robert is an educational Entrepreneur and real estate tycoon, co-creator of the CASHFLOW® board game, founder of the financial education-based Rich Dad Company and author of New York Times Bestsellers: Rich Dad’s Conspiracy of the Rich, and Unfair Advantage: The Power of Financial Education. Robert Kiyosaki is among the first to have warned Americans of an impending collapse in the US real estate market, famously prophesizing, “Your home is not an investment,” years before the Panic of 2008. His latest book is Who Stole My Pension? How You Can Stop the Looting.

  economy, markets, Richard Duncan