Will America’s Debt Crash the Global Economy?

The David McWilliams Podcast

David McWilliams

News & Politics

4.6 • 643 Ratings

🗓️ 10 June 2025

⏱️ 40 minutes

🔗️ Recording | iTunes | RSS

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Summary

When Jamie Dimon warns that the U.S. bond market could "crack," it’s time to listen. This week, we dive into America’s mounting debt crisis, with U.S. debt now surpassing $34 trillion, deficits running at $2 trillion a year, and interest payments exceeding military spending. We unpack how Trump’s tax cuts, tariffs, and spending splurges are pushing the system to breaking point, and why a bond market crack could trigger a global dollar crisis.

Then we turn the lens to Ireland, where the economy is running too hot: clogged roads, soaring rents, and an influx of investment we can’t absorb. Should Ireland slow down before the next global downturn forces us to? From bond yields to blocked-up Westland Row, this episode connects the big macro shifts to the everyday pressures you feel on your commute.

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Transcript

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0:00.0	Turn it up at breakfast with me Fleur East.
0:02.5	Me Will Best.
0:03.4	And me James Barb.
0:04.3	On Hits Radio.
0:05.5	If you're tuning in for the first time, don't expect anything too serious.
0:08.8	No.
0:09.3	Or professional.
0:10.1	It's pretty hard waking up in the morning, isn't it?
0:12.6	You both actually just make me very happy.
0:14.4	And that's quite difficult to achieve in the morning.
0:16.5	That is quite difficult.
0:17.4	That's the best thing about this show.
0:18.7	So sarky. I was actually trying to be sincere.
0:21.2	We just have a laugh.
0:22.4	Before, quarter past six in the morning,
0:24.0	we've already listened to so many amazing tunes.
0:26.3	Hits Radio Breakfast.
0:27.6	The biggest hits.
0:28.7	And the biggest throwbacks.
0:31.2	If you're in business,
0:32.8	you'd expect money movement to be easy.
0:35.0	And it is with Visa Direct.
	...

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