5 • 951 Ratings
🗓️ 24 May 2023
⏱️ 131 minutes
🧾️ Download transcript
The National Debt engorges daily--when does it collapse in on itself and crater the economy?
In this special we tackle the nature of federal debt, the apocalyptic scenarios its current trajectory leads to, and the pitfalls along the way. Plus, where the train went off the rails, when deficits are smart or dangerous, and the solutions we could enact to ward off fiscal Armageddon.
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0:00.0 | Wars are expensive and so are sieges, and the siege of Babylon was coming up on two years. |
0:06.0 | That implacant, stiff-necked city holding back the onslaught of the mighty Persian Empire. |
0:13.0 | Zopyrus knew Babylon couldn't rebuff Persia forever. |
0:18.0 | A year, two years, maybe even ten, but eventually, those traitorous devil worshippers would relent and buckle. |
0:26.8 | But hot damn! |
0:28.6 | Until then, wars cost a lot. |
0:32.0 | You paid for wars by the inch and this siege was inching a lot. It was hemorrhaging money. |
0:40.3 | Among other things, they had had to reroute the entire Euphrates River to deprive the |
0:45.8 | rebels of their natural moat. Flotted a bunch of farmland, dried up the regular crops, big |
0:51.8 | project rerouting that river. |
0:54.0 | And it was a big headache for nothing anyway because the Babylonians had already prepared for that. |
0:59.0 | They'd learned that lesson the first time Persia had conquered the city. |
1:03.2 | So the general began doing calculations in his head. |
1:07.3 | At what point is it just not worth it to put down the revolt and take back the city. |
1:14.0 | Surely that point would come soon if it hadn't already passed. |
1:18.0 | The empire had other problems. |
1:21.0 | Might it not be the point where it's just cheaper to let Babylon go? |
1:28.3 | Those preening Babylonians were always agitating for independence, strutting around like they were still a power to be reckoned with? |
1:35.0 | Well, okay. Surely we could work out a deal, a deal that would be cheaper than the war anyway. Every guy and his cousin in Babylon |
1:45.6 | thinks he's the true last heir to the Babylonian dynasty. So why not find one of those guys we can do business with? |
1:53.4 | Nebuchanezer the third or whatever number those devil worshippers are up to by now? |
1:58.4 | Let him have the title King of Babylon, who cares, |
... |
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