Bunker USA: America’s economy faces a Liz Truss moment

The Bunker – News without the nonsense

Podmasters

News, Government, Politics, Society & Culture

4.6 • 1K Ratings

🗓️ 18 March 2023

⏱️ 29 minutes

🔗️ Recording | iTunes | RSS

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Summary

As Republicans play chicken with the debt ceiling, could America suffer a Liz Truss-esque financial meltdown? Alex Andreou speaks to Neil Malhotra, a professor of political economy at Stanford Graduate School of Business, to discuss this financial showdown being played out by Congress. “Republicans see it as part of a game – this is an opportunity to extract concessions.” “It’s like Liz Truss’ financial plans, it’s hard to know what might happen.” “As you found in the UK – what happens first is that the markets anticipate everything.” “If you’re willing to let the country go down, you’re in a much stronger negotiating position than if you’re not. Republicans are in a stronger position because they’re viewed as though they’d tank the whole thing.” Support us on Patreon: www.patreon.com/bunkercast Presented by Alex Andreou. Music and Audio Production by Jade Bailey. Lead Producer: Jacob Jarvis. Group Editor: Andrew Harrison. THE BUNKER is a Podmasters Production Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	My name is Stan. I'm at. Nice to meet you. So you took up photography where? I've always loved
0:05.5	photography but I turn it into earning a living at 60. I enrolled on a day course.
0:11.8	Well college. I loved going to college. It's good you can retry. I'm enrolled on the day course. But college?
0:13.0	I loved going to college.
0:14.0	It's good you can retrain and do something.
0:16.0	Yeah, yeah.
0:17.0	Let's talk about working, learning, saving and making the most of living longer.
0:22.0	Phoenix Group is the UK's largest long-term savings and retirement business.
0:28.0	Search Phoenix Group living longer.
0:30.0	Pets brings so much joy.
0:32.0	From those happy greetings at the door to the warm cuddles on the sofa
0:36.7	so give a little love back with dental life from Purina a range of delicious chues made for dogs and tasty snacks for cats that help clean and support your pets, teeth and gums, essential for their overall well-being and a happy, healthy life. They give you plenty of smiles so look after
0:55.9	theirs with dental life. Pick up dental life in the pet food aisle. And the Hello and welcome to the Bunker USA. I am your host
1:24.8	Alex Andro. It's that time of the year when the shops play debt ceiling
1:29.6	carols, we hang our debt ceiling stockings, write our debt ceiling greeting cards and news
1:35.0	gosh that came round fast.
1:37.0	Simply put there's a legal limit on how much the United States federal government can borrow in debt markets.
1:43.7	Before World War I, Congress had to approve every time government wanted to borrow money.
1:49.4	During World War I, it needed to borrow so much they consolidated it into one overall limit.
1:56.0	And since then it's been raised continually, almost 80 times since 1960, more than 20 times since the year 2000. My guest today is Professor of Political
2:06.9	Economy at Stanford, he is the co-author of Leading with Values and the editor of Frontiers in
2:12.3	Social Innovation, and he recently
	...

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