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Podcast: Get Rich Education
Episode: Recession Warning, Uncertainty, and Destroying Wealth with Richard Duncan
Description: Uncertainty is high. Inflation is spiking, supply chains are unreliable, and COVID keeps hanging around. Russia's invasion of Ukraine threatens to make inflation and supply chain reliability worse. Amidst this backdrop, today's guest, Richard Duncan, discusses prospects for a US recession. Richard reiterates that the US needs credit growth of at least 2% annually (inflation-adjusted) to avoid a recession. In a recession, nearly every asset class would be affected. The wealth-to-income ratio's importance is discussed. The Fed has begun hiking interest rates. They soon plan to begin destroying dollars with q...