Macro Economics - TPMS Topic Hub
The Peter McCormack Show's running conversation on the macro economy: sovereign debt, inflation, the bond market, Bitcoin, the dollar's role, and the structural forces that decide whether the next decade looks like the last one or nothing like it.
If you only follow Western financial news, you're getting the consensus view. The guests below - investors, analysts and institutional historians - work outside it. They explain why the official inflation numbers understate reality, why government debt is now the dominant variable in every other policy area, and what people without finance careers can do about it.
What TPMS guests broadly agree on
Sovereign debt has crossed the point where rate cuts are no longer optional. Central banks will print before they default.
Currency debasement is the silent tax. It transfers wealth from wage earners and savers to asset owners and the state.
The financial system has changed beneath people's feet without their consent. Passive flows, regulatory capture, and the fiscal-monetary blur all post-date what most people were taught about economics.
Bitcoin is treated seriously, not as speculation. Most guests view it as one possible exit from a system whose math no longer works.
The political class has very little room to manoeuvre. Whoever wins the next election inherits the same constraints.
Recent episodes:
#166 - Freddie New: Will the West Collapse Like Rome? - Currency debasement, military overreach, and the historical parallels.
#163 - Scott Horton: How Debt, Inflation and War Are All Connected - Antiwar.com's case that endless US war is funded by money the public never voted for.
#162 - Mike Green: The Great Financial Reset Has Already Started - Passive index funds have broken price discovery and concentrated risk in ways most investors miss.
#161 - Lyn Alden: The Silent Financial Collapse Nobody Sees Coming - Why inflation is the silent tax that drains the middle class while wages never catch up.
#153 - Luke Gromen: Navigating the Age of Debt and AI - The fiscal dominance regime and what it means for asset allocation.
#152 - Balaji Srinivasan: Money, Debt, Bitcoin and AI - A first-principles tour of how the dollar system actually works and why the exits are being closed.
#148 - Jeff Booth: When AI and Money Collides - Why AI's productivity gains can't lower your cost of living under a debt-based system
#146 - Izabella Kaminska: The Soviet Collapse of Britain - A former FT editor on Britain's institutional decline and what it rhymes with.
Earlier essential listening:
#143 — Emmanuel Maggiori: The Money Printing Scam — How fiscal deficits get monetised and who pays.
#135 — Mike Green: The Benchmark That Broke America - The S&P 500 as a self-reinforcing flywheel.
#134 — Steve Keen: How Modern Economics Became Ideology - Why mainstream macro keeps missing crises.
#133 — Karl-Friedrich Israel: The Government is Lying About Inflation - How CPI is constructed and what it omits.
#121 — Curtis Yarvin: From Caesar to Satoshi - Why political and economic systems fail in patterns.
New to the macro thread? Begin with #161 Lyn Alden for the foundational case, then #162 Mike Green for what's broken in markets, then #152 Balaji Srinivasan for the broader system view.