Pop quiz: what’s seven trillion dollars times zero? The current amount of economic stimulus in the American economy. Despite printing four trillion dollars and seven trillion dollars in deficit spending since this time last year, economic growth is still below what it should be, hence talk of the new great depression.
In this episode, you’ll learn:
Jim Rickards is an American lawyer, economist, investment banker, speaker, media commentator, and New York Times bestselling author of multiple books on matters of finance and precious metals. His most recent book, titled The New Great Depression: Winners and Losers in a Post-Pandemic World was released just this month, and presents an uplifting message: no matter how bad things get economically, there are ways for individuals to not only preserve wealth, but make money and prosper.
Rickards shares his expertise on a range of topics, including the current state of disinflation and where it will lead, why the velocity of money is the real cause of inflation and what happens when there is no velocity, reasons for the 22-year downward trend in velocity and the even more significant drop during COVID-19, ways for individuals to protect themselves financially—regardless of the economic situation, nominal versus real interest rates, why cryptocurrency will not play a role in the international monetary system, the new strain of SARS-CoV-2 and why it is evidence that the lockdowns don’t work, and more.
Available on Apple Podcasts: apple.co/2Os0myK