From Here We Go Again With Kal Penn: Another Economic Crash with Michael Lewis
SNAFU with Ed Helms
iHeartPodcasts
4.6 • 1.7K Ratings
🗓️ 5 December 2025
⏱️ 42 minutes
🧾️ Download transcript
Summary
Hey SNAFU fans! We wanted to share another episode from a show that we think you'll enjoy: Here We Go Again with Kal Penn.
Each week, Kal Penn takes today’s trends and headlines and asks: Why does history keep repeating itself? From the new space race and plane delays to fad drugs and movie remakes, our guest's answers will make you feel better about everything.
Back in 2008, it seemed like everyone was talking about the financial crisis. And then came The Big Short, Michael Lewis' book-to-screen story that exposed the corrupt subprime mortgage industry and its impact on the 08 crash. Now, it seems like everyone's wondering: Are we heading towards another big recession? Who would you trust if you were that very man who exposed that broken system in the first place? Kal gets candid with journalist and author Michael Lewis about our financial future, who he trusts with his money, and why.
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Transcript
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| 0:00.0 | I am the son of immigrants and have son of immigrant energy, which means I just save everything. |
| 0:06.0 | I tend to not really spend that much money because I'm saving for the rainy day that we all know is going to come. |
| 0:13.0 | But there are a lot of signs pointing to the economy taking a potential left turn here. |
| 0:18.0 | The report card that tracks how the economy is doing. It's called |
| 0:21.7 | the leading economic index has been falling for months. Big banks like UBS are saying there's a high |
| 0:26.9 | chance of a recession soon. And then you have economists who individually are sort of like, oh, |
| 0:31.7 | the odds are like 50-50 within the next year. But at the same time, fewer houses are being built. |
| 0:36.8 | Companies are hiring less. |
| 0:38.1 | There's obviously an affordability crisis in major cities, but in plenty of places around the |
| 0:42.0 | country. And that's why we're here today. And instead of, instead of scaring you further, |
| 0:46.8 | I thought, why not talk to somebody who actually knows and has written about the 2008 financial |
| 0:51.4 | crisis and can help us understand whether we're headed for a new one. |
| 1:00.0 | You know, it's funny. I don't live my life in fear of a financial crash, so I'm not thinking, |
| 1:03.7 | oh, it's always this way. But... Because you have gold under your bed. |
| 1:08.0 | Well, yeah, I actually do a little bit. But just a little bit. Here we go again. Again. Again. Again. This is Here We Go Again, a show where we take today's trends and headlines and then ask, why does history keep repeating itself? I'm Cal Penn. Here we go. |
| 1:44.4 | I'm here. I'm here. podcast. Guaranteed Human. |
| 1:47.0 | I'm here. |
| 1:47.9 | Hello, hello. |
| 1:48.6 | Hey, Michael. |
| 1:49.7 | Cal. |
| 1:54.4 | So let me brag a little bit about the person across from me. |
| 1:56.3 | I'm a big fan of Michael Lewis. |
... |
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