The Paradox of Debt | Richard Vague | TEDxCapeMay

In this iconoclastic talk, Richard Vague examines the assets, liabilities, and incomes of the entire country, private and public sector, to reveal its net worth. His holistic analysis shows that the real factor that drives both financial crises and spiraling inequality―but also, paradoxically, economic growth―is ever rising private debt. The paradox is that while debt is essential and our economy relies on it, it also brings instability. Richard Vague served as Secretary of Banking and Securities for the Commonwealth of Pennsylvania, as Chair of the Pennsylvania Housing Finance Agency, and as board trustee for Pennsylvania’s two largest pension funds, the Public School Employees' Retirement System and the Pennsylvania State Employees' Retirement System. He is the author of The Paradox of Debt, which presents a new view of macroeconomics and will be released in July 2023. He authored The Case for a Debt Jubilee, a policy exploration of debt relief, An Illustrated Business History of the United States, the story of our nation’s business progress, A Brief History of Doom, a chronicle of major world financial crises, and The Next Economic Disaster, a new approach for predicting and preventing financial crises.
Richard is chair of the University of Pennsylvania Press, and chair of the Innovation Advisory Board of the Abramson Cancer Center and serves on the Governing Board of the Institute for New Economic Thinking. This talk was given at a TEDx event using the TED conference format but independently organized by a local community. Learn more at www.ted.com/tedx

[@byemma7245]

A topic that needs to be discussed alot more

[@mikepowell8044]

Mind blown! Vague nails it on 'The Paradox of Debt'!

[@chrisjarvis171]

With an MBA in finance, this was eye opening! Wealth disparity is a big issue that requires attention.

[@richardwvague]

Thank you for your comment- we certainly agree!

[@chrisandandria]

Very powerful content and quite a different way to look at debt.

[@richardwvague]

Debt itself is powerful! Thanks for your support.

[@elsafatte7517]

Great insights and you have an amazing way to convey the message easily! 👏🏻

[@richardwvague]

It's certainly an important message- thank you for your kind words.

[@DanielMangena]

Insightful, educational and well put together!

[@richardwvague]

I appreciate your comment- thank you for your support!

[@richardwvague]

Thank you, appreciate your comment!

[@derekselinger]

Great conversation Richard. I enjoyed it live and am so glad I have it to ponder further. 🙏

[@richardwvague]

Thank you for your kind words and continued support!

[@Jyoti-Darshana973]

I’ve shared this far and wide - brilliant!

[@philmarsh7723]

I've long suspected that debt is the culprit to wealth inequality. You just confirmed that!

[@richardwvague]

Glad to hear- the data was revealing! Thanks for your support.

[@JuanHernandez-hr4uh]

Bravo TEDx Cape May- the best speaker and talk EVER

[@juliocarvajal708]

I studied finance from 09-2012 and you've really extended my knowledge.

[@richardbruna1969]

Love this holistic approach Richard

[@richardwvague]

We believe its important to look at all of the macrosectors to get the full picture. Appreciate your comment!

[@suebailey2117]

Short, sweet, and insightful! Thanks for breaking it down, Vague!

[@Vanaja-Parthivi3710]

This talk is a gift to humanity.

[@guillermolopez2519]

First class presentation, this is what a TEDx Talk should be like One of the best Mr Vague!

[@richardwvague]

Thank you

[@Sunitha-Maanika050]

This talk is a beacon of hope.

[@Rukmini-Apsara0879]

I’m in awe of your storytelling.

[@Chanchal-Sarojini8387]

One of the best TEDx Talks of the year thus far

[@Foolan-Indira7312]

You’ve impacted my life in a profound way.

[@travismelvin973]

Richard, we have to become friends! I geek out over this stuff. Big FAN!

[@TimoneSmith]

I've heard this guy talk before and he keeps coming up on my UA-cam feed, grateful !

[@Blaise14]

Impressive delivery Richard , enjoyed this

[@millielaw1195]

I love your talks and listen to them all on here Richard.

[@alma636]

Great talk Richard !

[@richardwvague]

Thank you!

[@Jyotishmati-Manikuntala9805]

AMAZING talk thank you for sharing !

[@RajaneceChambers]

Questions are good , they provide answers and clarity

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This is great TED !

[@Ajala-Katyayani96118]

Your authenticity shines through.

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Your passion is contagious!

[@thinknetwork3614]

Great talk - you should be very proud of this - fabulous

[@Wamika-Joel931]

authentic and genuine message

[@elsafatte7517]

Insightful and relevant!

[@evaatkinson7932]

Thanks for sharing this

[@ShaquiraMack]

Love the charts and slides in this, it helps Richard

[@kristineflorescunanan]

I agree the rising of private debt is behind financial issues and inequality, despite being crucial for economic growth. It's a bit of a head-scratcher, but he breaks it down in a pretty interesting way.

[@richardwvague]

That is the paradox! Thank you for your comment.

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Really really interesting and thought provoking

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This talk has made my day.

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One of the best i’ve heard

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Glad i listened to this , great share

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I’ll be sharing this with my friends and family.

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I’ve never felt so motivated!

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Your passion is palpable.

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I’ll carry these lessons with me forever.

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Great insights

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Thank you !

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Congratulations.. this was brilliant

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Incredible insights! 😮

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You’ve changed my perspective on life.

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This is the talk of the year!

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love this

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Great talk! Well done.

[@richardwvague]

Thank you!

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