Dr. David Ranson's 2024 Financial Forecast: Oil, Gold, and Inflation

Airdate: 02/10/2024

In this episode, Josh sits down with Dr. David Ranson, the renowned Chief Economist at HCWE, to dissect the dynamics of monetary policy, inflation, and the nuanced relationship between the money supply and economic growth. Contrary to traditional monetarist views, Dr. Ranson posits that inflation and economic vitality are not solely dictated by the quantity of money. He highlights the significant role of energy prices, especially oil, in shaping inflation trends and discusses the potential inflationary spike should oil prices stabilize at their natural levels.

The conversation delves into the Federal Reserve's limited influence over long-term interest rates, the enduring stability of the gold-to-price level ratio, and the implications of these factors for future economic conditions. Dr. Ranson and Josh also explore the impact of negative net national savings on capital investment and growth, offering a critical examination of fiscal and monetary policies' effectiveness in navigating these challenges.