7: Richard Duncan | Economics and Predictions

#7: Get Rich Education's inaugural interview is with world-renowned economist, author, consultant, and speaker Richard Duncan. He informs us that economic growth is no longer driven by production expansion, but rather by credit expansion. Richard looks into his crystal ball. He tells us what to expect for 2015 and 2016 with respect to the stock market and the economy. Richard has kindly provided Get Rich Education listeners with a 50% discount to his Macro Watch video newsletter. Use the Coupon Code "gre". Learn more about Richard Duncan and subscribing to his video newsletter, Macro Watch,at: www.richardduncaneconomics.com 00:50  Keith will tell us how to avoid directly paying Private Mortgage Insurance on your home in the next episode. 03:52 Richard Duncan interview begins. 06:31  Today's economy works completely different than what is in our textbooks. 07:34  Economic growth is no longer driven by investment and savings, but rather credit creation and consumption. 09:56  Since 1952, 2%+inflation-adjusted credit growth is necessary in the US to avoid recession. 12:20  If you want to invest wisely, you have to understand that the government now manages our economy. 13:56  Prospects for inflation and deflation. 19:48  Richard provides his economic outlook for 2015 and 2016. It includes predictions about the stock market and quantitative easing. 22:30  Opinion and commentary about real estate and real assets as investment. Why homes with land are better investments than condominiums. 24:40  Richard discusses how a 25-year-old investing enthusiast should think and act today. 31:31  U.S. government money could be better used on new industries and technologies. www.richardduncaneconomics.com