The Corruption Of Capitalism, Preface to the …
Preface to the 2011 Edition of The Corruption of Capitalism [Now available on Kindle and NOOK] From the early 1980s, debt-fuelled consumption in the United States drove global economic growth
An Interview with Richard Duncan on China, Eu…
The following interview was published in THE EDGE SINGAPORE on May 30, 2011 By ASSIF SHAMEEN Richard Duncan, author of the seminal The Dollar Crisis: Causes, Consequences, Cures, an international
Credit Growth Drives Economic Growth, Until I…
The single most important thing to understand about economics in the age of paper money is that credit growth drives economic growth. Before the breakdown of the Bretton Woods international
China: Every Boom Busts
Since the beginning of the Industrial Revolution, every economic boom has been followed by an economic bust. The bigger the boom, the bigger the bust. Over the past 20 years,
Birth Of The Debt Culture
Once US dollars ceased to be convertible into gold at the beginning of the 1970s, there was no longer any constraint on the amount of dollar-denominated debt that could be
A New Economic Paradigm
Since the 1980s, a culture of debt has arisen in the United States. That change was the consequence of a misguided trade policy that gave rise to a current account
The Loose Cannon Credit Crisis
Starting in the 1970s, international credit flows began to destabilize the global economy. One country after another was plunged into crisis as dollar-denominated credit from abroad produced short-term booms followed
ABANDONED PRINCIPLES
There should be no confusion as to the origins of the global economic crisis that began in 2008. This crisis was set in motion in the 1960s, when policymakers in
BERNANKE’S CHOICE
For twelve years the US trade deficit financed the US budget deficit and held down US interest rates. From 1996 to 2008, the US trade deficit exceeded the government’s budget
Why Won't Bernanke Come Clean on Glut?
Perhaps the greatest mystery in the world of finance and economics is why Fed Chairman Ben Bernanke refuses to acknowledge that paper money creation by central banks produced the “global