President Trump seems to be upsetting the entire world economy and has changed things dramatically on the world stage via tariffs, taxation and everything else. Is this good or bad? Permanent or temporary? Join Tom Wheelwright as he explores Trump's dramatic impact on the entire global economy and where it all may lead with his guest, Richard Duncan, author of “The Money Revolution.”
Richard Duncan is the author of four books analyzing the causes and the effects of the economic crises that have brought the global economy to the brink of collapse during recent decades. 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. Richard has appeared frequently on CNBC, CNN, BBC and Bloomberg Television, as well as on BBC World Service Radio. His books have been reviewed in the Financial Times and The Economist, and taught at Harvard and Columbia.
In this episode, discover the economic benefits and downsides of our current global trade market, who exactly will pay for the tariffs, who wins - and who may lose.
Order Tom’s book, “The Win-Win Wealth Strategy: 7 Investments the Government Will Pay You to Make” at: https://winwinwealthstrategy.com/
00:00 - Intro.
06:03 - Is Trump changing the nature of international trade with his tariffs?
10:30 - How China became the second superpower via trade surplus with the U.S.
14:06 - Downsides of trade and budget deficits: Income inequality, global credit bubble, declined standard of living for middle class, and more.
18:50 - Big Beautiful Bill’s impact on the US & in the world economy.
23:20 - Who will pay for these tariffs?
27:40 - Inflation will increase with these tariffs.
31:20 - The President vs. The Fed.
36:44 - The positive side to Trump’s tariffs.
40:45 - Trump’s sovereign fund.
Looking for more on Richard Duncan?
Book: “The Money Revolution”
Website: richardduncaneconomics.com
Facebook: facebook.com/pages/Richard-Duncan-Economics-in-the-Age-of-Paper-Money/
X/Twitter: twitter.com/papermoneyecon
Youtube: www.youtube.com/channel/UCETpGkZWbafIVuNnzqB5ebA
-----
👔 ABOUT TOM: https://www.wealthability.com/tom/
💸 WEALTHABILITY LIVE: https://www.wealthability.com/wealthability-live/
🎓 EDUCATIONAL PRODUCTS: https://www.wealthability.com/
📕 TOMS BOOK "TAX FREE WEALTH": https://taxfreewealthbook.com
📰 SIGN UP TO TOM’S WEEKLY REPORT: https://wealthability.com/getreport/
🎙️ FOLLOW THE PODCAST ON SPOTIFY: https://bit.ly/4bgs37w
🎙️ FOLLOW THE PODCAST ON ITUNES: https://bit.ly/3Qwh3tl
💰 WORK WITH A TFW ADVISOR: https://tfwadvisors.us/contact-us/
🎓 BECOME A TFW ADVISOR: https://tfwadvisors.us/franchise/
📺 JOIN THE CHANNEL: https://www.youtube.com/@TomWheelwrightCPA
FOLLOW US ON INSTAGRAM💜
@Tom_Wheelwright
ABOUT US:
Tom Wheelwright is the founder and CEO of WealthAbility and TFW Advisors, a leading authority on tax strategy and wealth building. He is the best-selling author of Tax-Free Wealth and a trusted advisor to Robert Kiyosaki. As a world class CPA, Tom is dedicated to empowering entrepreneurs and investors to reduce their tax burden and achieve financial freedom. He currently resides in Phoenix, Arizona.
DISCLAIMER:
WealthAbility® does not provide tax, legal or accounting advice. The materials provided have been prepared for informational purposes only, and are not intended to provide tax, legal or accounting advice. The materials may or may not reflect the most current legislative or regulatory requirements or the requirements of specific industries or of states. These materials are not tax advice and are not intended or written to be used, and cannot be used, for purposes of avoiding tax penalties that may be imposed on any taxpayer. Readers should consult their own tax, legal and accounting advisors before applying the laws to their particular situations or engaging in any transaction.
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Cardiac Cowboys
The heart was always off-limits to surgeons. Cutting into it spelled instant death for the patient. That is, until a ragtag group of doctors scattered across the Midwest and Texas decided to throw out the rule book. Working in makeshift laboratories and home garages, using medical devices made from scavenged machine parts and beer tubes, these men and women invented the field of open heart surgery. Odds are, someone you know is alive because of them. So why has history left them behind? Presented by Chris Pine, CARDIAC COWBOYS tells the gripping true story behind the birth of heart surgery, and the young, Greatest Generation doctors who made it happen. For years, they competed and feuded, racing to be the first, the best, and the most prolific. Some appeared on the cover of Time Magazine, operated on kings and advised presidents. Others ended up disgraced, penniless, and convicted of felonies. Together, they ignited a revolution in medicine, and changed the world.