On today’s episode, Clay is joined by Richard Duncan to discuss current market conditions, whether we’ll see a recession in 2024, the potential for interest rate cuts, and more.Richard Duncan is the author of The Money Revolution: How To Finance The Next American Century.Since beginning his career as an equities analyst in Hong Kong in 1986, Richard has served as global head of investment strategy at ABN AMRO Asset Management in London, worked as a financial sector specialist for the World Bank in Washington D.C., and headed equity research departments for James Capel Securities and Salomon Brothers in Bangkok. He also worked as a consultant for the IMF in Thailand during the Asia Crisis.  Since 2013, Richard has published Macro Watch, a video newsletter that analyzes the forces driving the economy and the financial markets in the 21st Century.IN THIS EPISODE YOU’LL LEARN:00:00 - Intro01:47 - How our modern-day economy is structured with the US dropping the gold standard in 1971.10:29 - Why our economy requires perpetual credit expansion.17:46 - How the credit environment has developed since 2020.26:11 - What a recession is and what the implications of a recession are.29:47 - Why Richard foresees a recession in 2024.31:55 - The primary drivers of credit growth.43:26 - Why we’ll likely see interest rate cuts in 2024.53:03 - The drawbacks of our modern-day economy.60:00 - Indicators that investors need to monitor in today’s economy.64:03 - Where the US is at in the AI race.Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members. Richard Duncan Website. Macro Watch Website. The Money Revolution Book. Related Episode: TIP488: Current Market Conditions w/ Richard Duncan | YouTube Video. Related Episode: TIP424: How to Finance the Next American Century w/ Richard Duncan | YouTube Video. Follow Richard on Twitter. Follow Clay on Twitter. Learn more about the Berkshire Summit by clicking here or emailing Clay at clay@theinvestorspodcast.com. Check out all the books mentioned and discussed in our podcast episodes here. NEW TO THE SHOW? Follow our official social media accounts: X (Twitter) | LinkedIn | Instagram | Facebook | TikTok. Check out our We Study Billionaires Starter Packs. Browse through all our episodes (complete with transcripts) here. Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORSSupport our free podcast by supporting our sponsors: River Toyota Meyka AT&T Vacasa Fidelity Monarch Money Yahoo! Finance Long Angle Public USPS American Express Shopify HELP US OUT!Help us reach new listeners by leaving us a rating and review on Apple Podcasts! It takes less than 30 seconds, and really helps our show grow, which allows us to bring on even better guests for you all! Thank you – we really appreciate it!Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fmSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoicesSupport our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm