Richard Duncan: U.S. Economy on Life Support

We can't avoid a large government deficit, says Duncan, author of "The Corruption of Capitalism." But there are 3 smart ways we should spend that money, he tells Jack Otter.

Category:

News & Politics

Tags:

• MoneyWatch
• Government
• Vertical Industries
• Jack Otter
• Richard Duncan
• Corruption of Capitalism
• Defict
• Government Spending
• Gold
• CBS
• Video

[timfrost08]

@texndaisy met him for dinner the other night..... very interesting and well-balanced perspective. He is pretty similar to Schiff in the diagnosis of the problem and where we went wrong.. where he differs is that our horrible addiction to creditism would mean that pulling the plug = instant death... maybe fine if you a have guns, gold and farmland but it could last a lot longer than anyone predicts e.g. forever

[jamescc2010]

Also good farm land and agriculture investment both small and large might be good for the future due to increasing world population and growing middle class in China, India etc.

[jamescc2010]

I think the government should stay out of investing our tax money. What we need to lower tax on both personal and business, small government, balance budget, put corrupted Wall Street bankers in jails, and no more bail out with fiat money. On investing, I do like gold and dividend blue chips stock. We should have backup plan in case we lose our jobs or global crisis deteriorate.

[texndaisy]

This guy is wrong. Invest in US bonds?? LOL

Go deeper into debt?? lol

The only good advice is gold. Peter Schiff is much smarter than this guy.

[madcityrealtor]

Oh man he is right on target.

[themfu]

Excellent thinker Richard Duncan

[smasila]

Wait a minute? He says to spend several trillions into these Green industries??? Is he crazy???

[MacroJumping]

makes sense to me

[JezebelDecibel]

This man Richard Duncan has some great ideas.