On today’s episode, Clay discusses various financial crises from the past as discussed in the book This Time is Different by Carmen Reinhart and Kenneth Rogoff.
As the saying goes, from a historical perspective, there is nothing new except what is forgotten. Today’s episode will help shed light on where our world might be heading in light of studying history.
IN THIS EPISODE YOU’LL LEARN:
00:00 - Intro
06:48 - The primary types of financial crises.
08:13 - When the debt levels of a country reach an unsustainable level.
27:00 - An overview of currency debasements and currency devaluations.
27:24 - How countries tend to handle unsustainable debt levels.
30:36 - An overview of the Great Financial Crisis.
47:32 - How the interests of governments and currency holders are at odds with each other.
Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.
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