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 - Intro06:48 - 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 devaluations27:24 - How countries tend to handle unsustainable debt levels30:36 - 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.BOOKS AND RESOURCES<ul>
<li>Join the exclusive <a href="https://www.theinvestorspodcast.com/mastermind-2/">TIP Mastermind Community</a> to engage in meaningful stock investing discussions with Stig, Clay, Kyle, and the other community members.</li>
<li>Books mentioned: <a href="https://www.amazon.com/This-Time-Different-Centuries-Financial/dp/0691152640?crid=1KQRZTWED8CFE&dib=eyJ2IjoiMSJ9.zREUAw89kwulizVWZ4YiHRqrNkgBbYRX4nOjggQMJuy7AURdm86n1dlyBkcO1yyub7F3NAbbaDaEv23V7Yrk038v-X02M8nqn8woRd0_klRW6WB_F7RUOidNmU_g53yg2xEM4f79hsIZQ4OatOPJN4yetdLgqAHAZvAp-Ozcc_SSf_DkAfIoCtMujoXURr3nkGkrz5oujy_0B8xwSmomLiyFzZ6LkjgF9A2AhbH32jU.bJlFOX9faet8ScFdDbYMXPLWIK9detvremgJY_z-Wjg&dib_tag=se&keywords=this+time+is+different&qid=1712838372&sprefix=this+time+is+differen%2Caps%2C879&sr=8-1&linkCode=ll1&tag=tipnetwork-20&linkId=325ab03bc56d1204ae94be8df2a298ec&language=en_US&ref_=as_li_ss_tl">This Time is Different</a>, <a href="https://www.amazon.com/Broken-Money-Financial-System-Failing/dp/B0CG83QBJ6?_encoding=UTF8&dib_tag=se&dib=eyJ2IjoiMSJ9.Vs1A5Fp1qKk_32wykc7Roj6oH45XbQvfHBGY-8syIkU5Qalk_FlKKWCZdeWHVpms6SVz5TmlpxvOFEsUNWfcmkUfkBs7EsIQZbmxc2WKrdWK63h5hG8OMyCQA8AJOcKhOK_G9XkLlEWd8WL6mDzuC-bB_A8hwxfs1BOfhyjnNK2aHGmtv0177RTpBVVtiD-N5nUol_eZMIcavpxEoRdzla8QenqptH8-QGvBCZr-41I.UrvEnhn_1XRofj7XdIB0S_H24PxnuW4W12-OB304c1w&qid=1712838381&sr=8-1&linkCode=ll1&tag=tipnetwork-20&linkId=f54eca70f278a8a485f0638a3ce73e73&language=en_US&ref_=as_li_ss_tl">Broken Money</a>, <a href="https://www.amazon.com/Price-Tomorrow-Deflation-Abundant-Future/dp/1999257421?_encoding=UTF8&dib_tag=se&dib=eyJ2IjoiMSJ9.yNAu9SCzZoCSCQjyugz2eeMxIatNh2YjjPykqdjbBXcShbBv6gQnRET1CJp-LZVjwJMVtrg63ZuUvdTu5bfbDapuIgqwoKd7rwp8cdD0DjlSySzKshKKZGugLtyW4SxwJHmQJhUnMUpg3HSCu0bs5h1lok4FkWI3ISZbw6wx6vMEVwdzurmiZhjYHVCczoG_Gig8Cub1fY85vB9aoAZmDyRFsF5vudSFaVYEEIWnrZw.Ed4C4AuzKZaNF2Wh6lXPLAMUiP3yHKkgeL0xR-xtNpw&qid=1712848316&sr=8-1&linkCode=ll1&tag=tipnetwork-20&linkId=1470a6fe3eb02e80fe05bbe450a8d405&language=en_US&ref_=as_li_ss_tl">The Price of Tomorrow</a>
</li>
<li>Episode Mentioned: <a href="https://link.chtbl.com/WSB587">TIP587: Stock Market Crises & Bubbles w/ Brendan Hughes</a> | <a href="https://www.theinvestorspodcast.com/episodes/stock-market-crises-bubbles-w-brendan-hughes/">YouTube Video</a>.</li>
<li>Related Episode: <a href="https://link.chtbl.com/WSB574">TIP574: Broken Money w/ Lyn Alden</a> | <a href="https://www.theinvestorspodcast.com/richer-wiser-happier/fidelity-legend-joel-tillinghast/">YouTube Video</a>.</li>
<li>Follow Clay on <a href="https://twitter.com/Clay_Finck">Twitter</a>. </li>
<li>Check out all the books mentioned and discussed in our podcast episodes<a href="https://prodcast.io/wsb"> here</a>.</li>
<li>Enjoy ad-free episodes when you subscribe to our <a href="https://premium.theinvestorspodcast.com/">Premium Feed</a>.</li>
</ul><h3></h3><h3>NEW TO THE SHOW?</h3><ul>
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<li>Browse through all our episodes (complete with transcripts) <a href="https://www.theinvestorspodcast.com/we-study-billionaires/">here</a>.</li>
<li>Try our tool for picking stock winners and managing our portfolios: <a href="https://www.theinvestorspodcast.com/tip-finance/">TIP Finance Tool</a>.</li>
<li>Enjoy exclusive perks from our <a href="https://www.theinvestorspodcast.com/affiliates/">favorite Apps and Services</a>.</li>
<li>Stay up-to-date on financial markets and investing strategies through our daily newsletter, <a href="https://www.theinvestorspodcast.com/newsletters/">We Study Markets.</a>
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<li>Learn how to better start, manage, and grow your business with the <a href="https://www.theinvestorspodcast.com/podcasts/20-best-business-podcasts/">best business podcasts</a>.</li>
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TIP624: Studying Financial History w/ Clay Finck

We Study Billionaires - The Investor’s Podcast Network