The Failure of Government Economic Policy with Dan Tubb - WBD642
The Peter McCormack Show
Peter McCormack
4.7 • 2.8K Ratings
🗓️ 7 April 2023
⏱️ 128 minutes
🧾️ Download transcript
Summary
Dan Tubb is a podcaster and former venture capitalist. In this interview, we discuss the problems with fixing the sovereign debt problem in the context of broken media, broken politics and broken international institutions. We talk about the general ignorance of the problems facing society, and how this compounds the difficulty of resolving the situation.
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The last show with Dan Tubb was extremely popular. Dan set out in clear terms why the current economic system is at a crossroads: continuation of the accumulation of debt without rebalancing fiscal commitments is unsustainable; equally, there are no easy solutions. But when debt payments become one of the main government expenditures it's well past the time to act.
In this follow-up show we discuss the causes, ramifications and potential mitigations with Dan. How did the boomer generation unintentionally fuel the current economic problems, and why are they reluctant to change tack? Why is government becoming increasingly dogmatic and coercive in their policy application? Can AI provide a source of growth for the economy that averts the debt spiral? Should we expect the government to resolve all these issues?
These aren't theoretical concerns; there is evidence abounds that society's relationship with the state is shifting: Macron's difficulties in reigning in state spending in France; the growth in power of the Dutch farmers; Brexit. For too long those in government have taken the electorate for granted, whilst feathering their own nests. However, the issue is whether this break between the people and power will only exacerbate problems.
The solution surely has to be in more direct engagement between decision-makers and citizens. States rights in the US have long served as a beacon of governance for other parts of the world: bottom up democracy that provides for competition and innovation. It's not that we need less government, it's that we need more representative and localised government. Further, if we want a functioning democracy, we need to entice the best back into government.
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Transcript
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| 0:00.0 | For every pound the government collects and taxes it spends one pound 30 and the |
| 0:08.8 | debt element of that is going up all the time and you're not getting anything for that and effectively |
| 0:13.1 | we're in a spiral, a debt spiral. |
| 0:15.0 | Hello hello how are you all? It's been a massive week here very busy I've got a |
| 0:19.3 | massive weekend ahead this week me and Danny recorded about 10 podcasts and yesterday I closed on a bar. I bought a bar in Bedford called the auction room, which is very cool and this weekend ahead rail Bedford have got two massive games. We're playing on Saturday and we're playing on Monday and depending on how |
| 0:34.5 | results go from other games we can secure the league. So keep your fingers cross for us. |
| 0:39.6 | Anyway, welcome to the What Bitcoin did podcast which is brought to you by Iris Energy |
| 0:43.7 | the largest NASDAQ listed Bitcoin miner using 100% renewable energy. |
| 0:48.1 | My name is Peter McCormack and today on the show we have Dan Tubback now just before Christmas. I recorded a show |
| 0:54.2 | with Dan looking at the debt problem here in the UK and you know what is one of my |
| 0:58.1 | favorite shows I recorded last year I keep referring to it when making |
| 1:01.6 | other shows keep talking about debt and overspending by government. |
| 1:04.5 | So now we're back in the UK recording again. We asked Dan to come back on the show, give us a bit |
| 1:09.4 | of a TLDR on that one and look at some possible solutions but it didn't end up how I |
| 1:14.3 | expected. This show is a little bit different from the first one and gets into a lot |
| 1:18.5 | of speculation and you're going to hear me disagree with Dan on a lot of things |
| 1:21.8 | but listen I like talking Dan I like |
| 1:23.7 | sitting down with him even if we completely disagree on our worldviews we can |
| 1:27.8 | still sit down have a chat anyway if you've got any questions about this |
| 1:30.2 | anything else please feedback to me this hello what Bitcoin did. |
| 1:33.6 | And also we've got our live event in one week. |
| 1:36.8 | James lavish, Jeff Booth, Lawrence Laplace, Ben Ark, all coming to bed for |
... |
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