#257: Market Forecasts from ITR Economics: Debt Complacency, Inflation, China - USA Relations and the 2030 Great Depression

With the current state of the world, it’s only natural to wonder how stable the economy is, what is going on in the markets and if there are any major concerns on the horizon. Alan Beaulieu is on the show today to give us a market update. He is a principal at ITR Economics, which has had an unmatched 94.7% forecast accuracy at four quarters out since 1985. ITR has also predicted an economic downturn in 2030 as big as the Great Depression.

Alan has a reputation as an accurate, straightforward economist, delivering award-winning workshops and economic analysis seminars world-wide for the last 30 years. Alan has a reputation as an accurate, straightforward economist who has delivered award-winning workshops and economic analysis seminars world-wide for the last 30 years, and has co-authored three books with his brother Brian Beaulieu: Make Your Move, Prosperity in the Age of Decline and But I Want It!

What You Will Learn In Today's Podcast Interview

The impact the 2020 pandemic has had on the current and future states of the economy
The leading indicators ITR Economics uses to make their economic forecasts and how the four phases of a business fit in
How a lack of “sound financial thinking” is helping to spur the next depression
The importance of measuring your rate of change and how it will help you predict the future
How Alan and his team forecast with a 95% accuracy during the 2020 pandemic
The impact of 80 million Americans drawing social security (within the next decade), be on prescription drugs and using Medicare—double the 40 million who use such programs today
What modern monetary theory (MMT) is and how it could impact the future of our economy
Why one could argue we’re driving the bus straight toward the cliff when it comes to our economy
When to pass on growth rather than overextend
The fallacy of equality
Why ITR Economics is forecasting a serious depression by 2030
How focusing on relevant producer price index (PPI) can help you navigate your business through a recession
What to do to avoid floundering during a depression
USA’s new place in the global market and what’s next
What ways you can start de-risking your business today to better prepare for the future
How the USA’s and China’s economies match up and some things to expect going forward

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About the Guest:

Alan Beaulieu is principal at ITR Economics, which has had an unmatched 94.7% forecast accuracy at four quarters out since 1985. He has a reputation as an accurate, straightforward economist, delivering award-winning workshops and economic analysis seminars world-wide for the last 30 years. Alan has also coauthored, with his brother Brian Beaulieu, the books Make Your Move, Prosperity in the Age of Decline and But I Want It!

Quotes:

05:54 - “What do I have to do to miss this great depression?” – Alan Beaulieu

08:58 - “The world’s coming to an end. We had to tell our clients what the year was gonna look like.” – Alan Beaulieu

11:35 - “We’re so expensive in the United States that we Boomers are a major cost of the Great Depression. It’s not a pleasant thought.” – Alan Beaulieu

12:17 - “There are 40 million, in this country right now, drawing social security and prescription drugs and Medicare. That’s going to almost double in the next decade.” – Alan Beaulieu

13:25 - “You know MMT is out there, and while it’s unofficial in this country, it’s very real.” – Alan Beaulieu

13:55 - “At some point, someone has to make a return and someone has to make money.” – Ryan Tansom

17:31 - “The culture is working against sound financial thinking.” – Alan Beaulieu

21:33 - “Your listeners should know this is temporary. We're not going to see massive systemic inflation for years.” – Alan Beaulieu

21:53 - “When I start seeing painful inflationary pressures, what should I have done to prepare myself?” – Alan Beaulieu

31:07 - “It begins with the rate of change.” – Alan Beaulieu

35:14 - “That’s one of our goals here, to help businesses see the future. That’s our passion is to see the future first.” – Alan Beaulieu

37:10 - “As long as the data set continues, as long as this world doesn’t change, this will work. But then there’s the falsehood, right?” – Alan Beaulieu

37:58 - “You do have to be in industries that will be in demand, even with a Great Depression upon us.” – Alan Beaulieu

42:29 - “They’re going to think I’m stupid.” – Alan Beaulieu

47:26 - “China’s got more problems than we do. We just don’t hear about them.” – Alan Beaulieu

51:54 - “Our trade relations combined Canada, Mexico is greater than that of China. So I mean, our nearest neighbors are our best friends.” – Alan Beaulieu

54:51 - “I think the transfer of wealth that people talk about is overstated. Because it is in pockets, it’s not ubiquitous. Wealth is also very much self-defined.” – Alan Beaulieu

56:39 - “Take risks now, as in invest in your business for future growth.” – Alan Beaulieu