103 - Doc Martins, the financialization of the global economy, IPO's, inequality and Joe Biden's political agenda

The David McWilliams Podcast

David McWilliams

News & Politics

4.6 • 643 Ratings

🗓️ 21 January 2021

⏱️ 30 minutes

🔗️ Recording | iTunes | RSS

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Summary

We explain by way of the SFX and Doc Martins how financial markets create inequality. Late stage financial capitalism generates super normal profits for owners of capital and debt by way of IPOs, and forces wage moderation on ordinary workers. We explain how understanding the credit cycle is key to understand the modern economy through the prism of the glorious Doc Martin, focusing on trickle down economy, opportunism and leveraged profits and market booms and busts. What does this mean for the economy? Unfortunately: most likely - further wealth division.

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Transcript

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0:19.3	Arlo, 10 years of, in one powerful security system.
0:24.4	Save 20% on selected products with the code AOLO20 at ALO.com.
0:29.1	Conditions apply.
0:33.7	What in the world is happening on Wall Street?
0:36.0	Economic indicators.
0:37.6	Who knows where this is going to end up?
0:39.5	To understand the economy, you have to understand human nature.
0:45.7	This podcast is powered by ACAST.
0:51.4	How are you doing there?
0:53.4	Hope you're well.
0:54.8	It's the podcast.
0:55.8	I'm talking to my own mate.
0:58.2	Mr. D. How are you, man?
0:59.4	I am very good.
1:01.1	I'm very good this week.
1:02.2	I'm busy all week because of you, actually.
1:04.4	I know. I'm doing your heading.
1:05.7	I'm doing your heading. I'm doing your heading.
1:07.8	It's all right. We're getting there.
1:09.2	Let's kick off with the question.
	...

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