March 21, 2014

The Liquidity Gauge

Central bank forward guidance and communication are all fine and good, but it is liquidity that moves the markets. When liquidity is plentiful asset prices tend to rise and when it is scarce asset prices tend to fall. What investors require, therefore, is a simple way to measure and forecast liquidity, a liquidity gauge. A…
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March 3, 2014

CNBC Asia Squawk Box Interview

This morning I spoke with Martin Soong on CNBC Asia Squawk Box. We discussed the fundamental weakness of the US economy, the approaching shift in liquidity, the prospects for assets prices and the risk of a US recession in 2014 – all in less than 4 minutes. To get the facts behind the bullet points,…
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January 24, 2014

The CNBC India Interview: Why QE Won’t End in 2014

I was in Mumbai to speak at the CFA Institute’s India Investment Conference last week. While there, I was interviewed by CNBC India. I explained why I believe that Quantitative Easing will not end this year and what the continuation of QE on into 2015 will mean for Emerging Market economies and global asset prices….
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January 9, 2014

Watch MACRO WATCH on YouTube

Macro Watch First Quarter 2014 is now uploaded and ready to watch. It explains how the Fed’s new “Taper Schedule” is likely to impact Liquidity and Asset Prices on a quarter by quarter basis in 2014 and on into 2015. To watch the 4-minute introduction video on YouTube, click on the following link: This…
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January 6, 2014

Macro Watch First Quarter 2014 Has Been Uploaded

The new issue of Macro Watch is ready to watch. Its theme is that Quantitative Easing is unlikely to end in 2014. Contents: 1. Introduction 2. Economic Overview, With a Focus on Net Worth 3. Credit: Will Credit Growth Accelerate? 4. The Fed & Liquidity 5. Liquidity Conditions in 2014 and The Prospects for Asset…
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December 29, 2013

The McAlvany Weekly Commentary Interview

I had a very interesting conversation with David McAlvany for The McAlvany Weekly Commentary recently. We discussed: • The Fed’s serial bubble blowing strategy • The role liquidity plays in driving asset prices • How much the Fed is likely to taper • The possibility of much lower interest rates • The limits of asset…
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December 20, 2013

THE TAPER: Recalibrating Liquidity

The “Taper” has begun. It’s important to understand why. On December 18th, the Fed announced that it will begin to taper the amount of fiat money it creates each month from $85 billion to $75 billion starting in January. Chairman Bernanke also indicated that the Fed is likely to continue reducing the monthly amount of…
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December 1, 2013

The Financial Sense Newshour Interview

Jim Puplava interviewed me recently for Financial Sense Newshour. We discussed: Global economic challenges The “Policy Plan” and its flaws What the Fed wants and needs The outlook for the stock market Why the Fed will taper, but not stop, QE How to measure Liquidity, and to assess its impact on asset prices I also…
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November 20, 2013

The Squawk Box Asia Interview

This morning I spoke with the CNBC Asia Squawk Box team in their Singapore studio. We discussed Fed Chairman Bernanke’s speech (which was taking place at that time) and what it suggests about when the Fed will begin to taper QE. I hope you’ll check out this conversation by clicking on the link at the…
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November 8, 2013

The Macro Analytics Interview on YouTube

I had an interesting conversation with Gordon T. Long of Macro Analytics recently. We discussed our economic future and what investors must monitor in this new age of fiat money. I introduce “The Liquidity Gauge” here for the first time. Gord did a great job of weaving charts into the interview and posting it on…
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October 29, 2013


I would like to sincerely thank all of you who have subscribed to Macro Watch over the past week. The strong take up has been very encouraging and very much appreciated. We’re off to a good start. For those of you who have not yet subscribed, please see the subscription details below. Macro Watch is…
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October 20, 2013

Announcing MACRO WATCH

With this blog, I am launching Macro Watch, a subscription-based video newsletter that analyzes trends in credit growth, liquidity and government policy in order to anticipate their impact on asset prices and economic growth. Macro Watch will be published quarterly. Each issue will be approximately one hour long and will be broken into a number…
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September 26, 2013

New Radio Interview: Why No Taper?

Last week I was in Kuala Lumpur.  There I had an interesting conversation with Julian Ng  of BFM radio.  We discussed: Why the Fed decided not to taper QE How the economy really works now The purpose and goal of Capitalism, and Why it is impossible to return to a Gold Standard. To listen to…
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August 15, 2013

Watch Richard Duncan’s New Course: How The Economy Really Works

My second video Course is now available on It’s called: How The Economy Really Works. This 2-hour Course deals with the present. It explains how our economic system works now. It’s divided into 11 lectures. Lecture 1: What’s Changed? Lecture 2: Don’t Call It Capitalism Lecture 3: Who’s In Charge? Lecture 4: GDP 101…
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May 10, 2013

How The Economy Really Works

So far, 450 of you have signed up for my on-line video course, Capitalism In Crisis: The Global Economic Crisis Explained. Thank you! I appreciate your interest and your support. As you know, Capitalism In Crisis focuses on the past, on the causes of the crisis. Today, I would like to let you all know…
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April 5, 2013

REMINDER. Watch Richard Duncan’s Course: CAPITALISM IN CRISIS

I would like to thank all of you who have signed up to watch my video Course, Capitalism In Crisis: The Global Economic Crisis Explained, and for your very encouraging feedback. The response has been incredible! For those of you who have not signed up, I encourage you to do so now. This 2-hour Course…
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March 27, 2013

Watch Richard Duncan’s Course: CAPITALISM IN CRISIS

Dear All, I have recorded a two-hour course. It’s called Capitalism In Crisis: The Global Economic Crisis Explained. The course is broken into 15 short lectures and is available on an on-line teaching platform called Udemy. In this course, I use 150 charts and slides to explain how the crisis in the global economy came…
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March 8, 2013

When Will This New Depression End?

The following comments, written specifically for the Spanish language edition of The New Depression, were written in early March 2013, sixteen months after the original manuscript was completed at the end of October 2011. In The New Depression, I wrote that the fate of the global economy depended on whether credit would once again begin…
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