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The Peter McCormack Show

#163 - Scott Horton - How Debt, Inflation and War Are All Connected

The Peter McCormack Show

Peter McCormack

Power, Politics, Government, Markets, News, Society & Culture, Technology, Society, Inflation, Finance, Bitcoin, Economics, Money

4.72.8K Ratings

🗓️ 8 April 2026

⏱️ 75 minutes

🧾️ Download transcript

Summary

Scott Horton is the director of Antiwar.com and one of the most outspoken critics of US foreign policy.

In this episode, Scott explains how war connects directly to the things people feel every day - rising prices, falling purchasing power, growing debt and a system that never seems to improve no matter who is in charge.

We also discuss how governments fund wars, why debt keeps expanding, how inflation quietly shifts the cost onto ordinary people and the incentives that keep the cycle going. Lastly, Scott explains the role of media, the relationship between politics and defence spending, and why these conflicts continue even when public support is weak.

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TIMESTAMPS:

00:00:00 - Perpetual War System

00:02:00 - Hidden War Tax

00:05:00 - Debt Spiral

00:08:00 - Empire Costs

00:09:30 - War & Inflation

00:25:00 - Cost Of War

00:28:40 - Iron Triangle

00:33:10 - “It’s A Racket”

00:43:30 - Emotional Toll

01:02:10 - Any Hope Left

01:05:00 - How It Ends

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CONTACT PETE

› Website – http://petermccormack.com

› Feedback – https://www.petermccormack.com/contact

› Email – me@petermccormack.com

› Instagram – /mccormack555

› X/Twitter – https://x.com/petermccormack/

CONNECT WITH SCOTT HORTON

› Website – https://scotthortonacademy.com/

› Twitter – https://x.com/scotthortonshow

SPONSORS

› IREN - https://www.iren.com/

› Monetary Metals - https://www.Monetary-Metals.com/McCormack

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LISTEN / SUBSCRIBE

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FILMED BY CURTIS TAYLOR

› https://www.curttaylor.co.uk/

› https://x.com/curttayloruk/

EDITED BY CONOR MCCORMACK

› https://x.com/ConorM04

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Transcript

Click on a timestamp to play from that location

0:00.0

You know, everyone should have been ironically forced by their government education to read 1984 in school.

0:07.7

And by keeping the people in a state of perpetual war, we take all of their excess wealth and we put it in the form of a floating fortress and sink it into the ocean.

0:18.4

Or we put it in the form of one of our new rocket ships,

0:21.6

and we blast their wealth off into space where they can't get at it,

0:26.9

so that the people are always desperate and always easy to keep under control.

0:31.8

You have all of the national debt, which if you count all the different unfunded liabilities, like God knows what the number

0:38.9

really is, but the official $40 trillion national debt, as Senator Rand Paul said the other day,

0:45.2

we're borrowing money to pay interest on the debt. And if you look at the chart now,

0:52.1

interest on the national debt is now a larger percentage of the annual national government's budget than even the world empire.

1:01.4

The iron triangle. And it just means where you have the arms manufacturers, the Congress, and the media.

1:13.3

And all they do is they just hype it all up.

1:16.3

They got to sell their dish soap.

1:18.6

And the more eyeballs on the TV, the better.

1:20.8

And when there's a big controversy, that's when they're making money.

1:23.6

And they absolutely do increase their ad rates.

1:26.2

And so they always have a huge interest in

1:28.1

not just hyping up what's going on in the moment, but in helping to make sure that there's a

1:33.4

violent conflict to cover for the next quarter. Hell yeah. This show is brought to you by my

1:39.1

lead sponsor, Iron, the AI Cloud for the next big thing. Iron builds and operates next generation data centers

1:45.5

and delivers cutting edge GPU infrastructure,

1:48.5

all powered by renewable energy.

1:50.6

Now, if you need access to scalable GPU clusters

...

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