Tom Bodrovics welcomes back once again, Dr. Stephen Leeb of Leeb Capital Management to discuss China’s overall growth and the geopolitical impact. Leeb articulates his perspective that the recent slump in China’s stocks has minimal effect on its general economy, albeit it may discourage some foreign investment. He argues that China’s economic model takes a different approach, focusing largely on knowledge generation and innovation rather than relying heavily on financial markets.

A Nature report indicates China surpassing the US in general scientific achievement for the first time, showing the country’s advancements in technology. The report singles out China’s long-term investment focus as the source of their success, drawing a parallel with Western countries’ emphasis on short-term outcomes.

Looking at the education backgrounds of top tech company heads, they are often originally from Asia, with examples illustrating that they have the capability to transform industries. A shift in corporate focus is observable, as evident with Microsoft’s transition from PCs to the cloud. Yet, a clear concern is expressed regarding the growing disconnect between corporate heads and their employee base, possibly leading to classism issues.

Dr. Leeb calls attention to the United States’ current condition, making comparisons to China’s technological advancement. He voices concerns about societal upheaval due to significant inequalities and a lack of unified mission, cautioning about events like the Civil War. Despite these issues, he remains optimistic, emphasizing the strength of American democratic values.

Dr. Leeb explains his views on gold as a significant store of value over other assets. He challenges conventional financial wisdom with his argument that gold has proven to be a reliable safeguard during periods of instability, even though renowned financiers such as Charlie Munger and Warren Buffett disagree.

A worldwide crisis is stressed as money unduly influences science. International cooperation is suggested as the key for global progress. He emphasizes China’s defensive strategy in conflicts as a model, and strongly advocates for gold as a spiritual value and balance to materialism. Despite a critique of systems like Bitcoin, he expresses hope that future generations will appreciate the balance offered by gold.

Time Stamp References:
0:00 – Introduction
0:40 – China’s Slump
10:00 – Global Manufacturing
20:27 – Conviction & Buying
28:46 – The Great Leveler
50:20 – Echo Chambers & Gold
1:02:55 – Money/Science & Religion
1:07:50 – Golds Importance
1:12:44 – Wrap Up

Talking Points From This Episode

• China’s growth and recent stagnancy and the global impact on manufacturing.
• Concerns about upheaval and instability in the United States.
• Western over-reliance on science and materialism.

Guest Links:
Twitter: https://twitter.com/LeebPhd
Website: https://www.leeb.com/
Website: https://www.stephenleeb.com/
Book/Amazon: https://tinyurl.com/y4wphb87

Dr. Stephen Leeb is a recognized authority on the stock market, macroeconomic trends, and commodities, especially oil and precious metals. As Chairman and Chief Investment Officer of Leeb Capital Management, Dr. Leeb combines his knowledge of macroeconomic trends and current market conditions with detailed information about specific companies he follows to guide the Committee’s investment decisions.

Stephen Leeb is a financial author, wealth manager, and publisher of a family of investment newsletters. He has been a recurring guest on CNN, Fox News, NPR, Bloomberg, and many others through the years. Leeb was also said to be one of the country’s foremost financial experts, with Charlie Gasparino in 2016 recommending Leeb as a good candidate for Federal Reserve Chairman.

Leeb earned a B.S. in Economics from the Wharton School of Business. He also earned a Master’s in Mathematics and a Ph.D. in Psychology from the University of Illinois. He authored research papers on psychology and statistics in the peer-reviewed journal Psychological Reports. Stephen Leeb is married and lives in New York City, New York.

Leeb has written nine books on macroeconomic trends, finance, and investment, including the New York Times Best Sellers. Stephen’s recent book Red Alert was awarded the 2012 Axiom Business Book Awards silver medal in the International Business/Globalization category.