1281 FBF: Richard Vague, Private Debt Problems, The Next Economic Disaster, Why Its Coming & How to Avoid It
Today's Flash Back Friday comes from Episode 494, originally published in March 2015.
In the introduction portion of the Creating Wealth show, Jason Hartman answers two voicemail questions left by his listeners. He then introduces Richard Vague as his guest for today's show. Richard Vague is one of the few economists who are currently talking about the problems of massive private debt. He is the author of The Next Economic Disaster and talks to Jason about China's economic problem along with some interesting facts and correlations about the US economy.\xa0
Key Takeaways:\xa0
8:00 \u2013 Jason talks about the 6 ways the government can get out of its mess.\xa0
11:20 \u2013 Jason answers a listener voicemail question.\xa0
18:50 \u2013 A listener asks about 3D printing a house. Jason shares his thoughts.\xa0
24:30 \u2013 Jason introduces Richard Vague to the show.\xa0
29:15 \u2013 Richard talks about China's debt problem.\xa0
35:10 \u2013 Private debt growth leads to higher interest rates.\xa0
38:15 \u2013 Richard gets his stats by looking at all consumer and business debt.\xa0
42:30 \u2013 A lot of economists don't include private debt in their model.\xa0
49:00 \u2013 What should we do to avoid the next economic disaster? Richard explains.\xa0
51:10 \u2013 Quick recap, what are the stages of an economic crisis?\xa0
Mentioned In This Episode:\xa0