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#134 - Steve Keen - How Modern Economics Became Ideology
Modern economics is built on competing theories that often describe the world in very different ways. In this conversation, economist Steve Keen sets out his explanation for how money works, why he believes mainstream economic models fail, and why debt, banking and housing play a far greater role in economic crises than most policymakers acknowledge. Keen's perspective challenges the assumptions of neoclassical, Keynesian and Austrian economists alike. In this episode we discuss: – How economics became political ideology – Why neoclassical theory broke the West – The Left vs Right illusion in economic policy – What money really is (and how banks actually create it) – Why inflation is misunderstood by almost everyone – How private debt fuels instability and inequality – Housing, mortgages & the destruction of the middle class – Why equilibrium economics is fantasy – What a sane, reality-based economic model looks like – How young people can survive a debt-driven system Economics didn't fail by accident — it failed because ideology replaced reality. Steve Keen is one of the world's leading heterodox economists, known for his critiques of mainstream theory and his work on private debt, banking, financial instability and the 2008 crisis, which he warned about years in advance. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - TIMESTAMPS: 00:00:00 – Introduction 00:03:12 – Why Economics Became Ideology 00:09:04 – Economists vs Reality 00:14:47 – How Money Actually Works 00:21:18 – Banks, Loans & Money Creation 00:33:44 – Inflation: What Really Drives It 00:38:59 – Wages, Markups & Bargaining Power 00:47:55 – The Housing Crisis Explained 00:54:03 – Deregulation & the Death of Affordability 00:59:22 – Middle Class Collapse 01:04:48 – Left and Right Get Economics Wrong 01:11:02 – Neoclassical Economics 01:17:26 – The Problem With Economic Models 01:22:31 – Why Economists Misunderstand Production 01:28:08 – AI, Automation & The Future of Work 01:44:28 – Structural Failures 01:55:46 – Can Government Use Good Economics? 02:01:23 – Global Debt, Fragility & Future Crises 02:06:40 – What Would Real Reform Look Like? 02:13:28 – Why Young Generations Feel Hopeless 02:19:47 – Can We Build a Post-Ideological Economics? 02:25:10 – Final Thoughts - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - CONTACT PETE › Website – http://petermccormack.com › Feedback – https://www.petermccormack.com/contact › Email – [email protected] › Instagram – /mccormack555 › X/Twitter – https://x.com/petermccormack/ CONNECT WITH STEVE KEEN › Website – https://www.patreon.com/ProfSteveKeen › Twitter – https://x.com/profstevekeen SPONSORS › IREN - https://www.iren.com/ › Ledger - https://www.ledger.com/ › Gemini - https://gemini.com/ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - LISTEN / SUBSCRIBE › Apple Podcasts: https://apple.co/40ruY9K › Spotify: https://spoti.fi/3Wc94Vu › Fountain: https://bit.ly/FountainPM › YouTube: https://bit.ly/YouTube_PM › Rumble: https://bit.ly/RumblePM FILMED BY CURTIS TAYLOR › https://www.curttaylor.co.uk/ › https://x.com/curttayloruk/ EDITED BY CONOR MCCORMACK › https://x.com/ConorM04 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
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#133 - Karl-Friedrich Israel - Inflation, Inequality, Socialism & the Future of Europe
Inflation isn't an economic metric — it's a political tactic. When governments lie about inflation, they're not miscalculating; they're stealing from you. Economist Karl-Friedrich Israel explains how inflation quietly enriches asset holders, punishes workers and pushes Europe into a slow, silent decline. If your living standards are falling while politicians insist everything is fine, this conversation will make sense of it. If you still believe governments can print prosperity without consequences, you won't enjoy what follows. In this episode we discuss: – How inflation secretly taxes the poor – Why CPI hides the real cost of living – Europe's long, slow economic decay – The rise of modern socialism – Cronyism vs capitalism – Collective corruption of elites – Why asset inflation fuels inequality – The Argentina warning – Whether Bitcoin can fix the money – AI, automation & the coming labour shock Britain is being lied to — and people are finally waking up. Karl-Friedrich Israel is a German economist specialising in monetary policy, inflation and inequality. His work reveals the economic mechanisms accelerating Europe's decline. - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - TIMESTAMPS: 00:00:00 – The Inflation Lie 00:06:21 – CPI vs Real Cost of Living 00:12:13 – Inequality: What's Legit, What Isn't 00:14:02 – Why Socialism Is Surging Again 00:19:34 – Inflation as Political Illusion 00:24:10 – Welfare, Dependence & the Trap 00:26:47 – Argentina, Milei & Monetary Chaos 00:33:16 – Should We Abolish Central Banks? 00:37:21 – Europe's Coming Decline 00:53:59 – Brain Drain & the Death of Opportunity 00:58:07 – Academia's Ideological Capture 01:23:02 – AI, Job Loss & the Future Economy 01:39:19 – Bitcoin, Freedom & The Path Forward - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - CONTACT PETE › Website – http://petermccormack.com › Feedback – https://www.petermccormack.com/contact › Email – [email protected] › Instagram – /mccormack555 › X/Twitter – https://x.com/petermccormack/ CONNECT WITH KARL-FRIEDRICH ISRAEL › Website – https://kfisrael.com/ SPONSORS › IREN - https://www.iren.com/ › Ledger - https://www.ledger.com/ › Gemini - https://gemini.com/ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - LISTEN / SUBSCRIBE › Apple Podcasts: https://apple.co/40ruY9K › Spotify: https://spoti.fi/3Wc94Vu › Fountain: https://bit.ly/FountainPM › YouTube: https://bit.ly/YouTube_PM › Rumble: https://bit.ly/RumblePM FILMED BY CURTIS TAYLOR › https://www.curttaylor.co.uk/ › https://x.com/curttayloruk/ EDITED BY CONOR MCCORMACK › https://x.com/ConorM04 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
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#132 - James Esses - Is Gender Ideology Harming Children?
James Esses is a psychotherapist and former Childline volunteer who was expelled from his degree and blacklisted by his profession for opposing gender ideology. He now works with young people suffering from gender dysphoria and is one of the UK's most articulate defenders of reality, safeguarding and children's rights. CONTACT PETE › Website - http://petermccormack.com › Feedback - https://www.petermccormack.com/contact › Email - [email protected] › Instagram - /mccormack555 › X/Twitter - https://x.com/petermccormack/ CONNECT WITH JAMES ESSES › X/Twitter - https://x.com/JamesEsses › Website - https://jamesesses.com/ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - TIMESTAMPS: 00:00:00 – Introduction 00:03:45 – The Trans Industry 00:08:00 – Medicalisation vs Exploration 00:12:30 – What Puberty Blockers Really Do 00:16:00 – The Clinics & the Profits 00:20:30 – Transitioning Is Not Treatment 00:25:00 – Adults vs Children 00:30:00 – From Self-Hate to Sterilisation 00:34:30 – Schools, Indoctrination & DEI 00:39:00 – Media Collusion 00:44:15 – Language Wars: Women, Men & Meaning 00:48:00 – Identity as Trend 00:52:00 – Asexuality & Porn Addiction 01:00:30 – The Role of the Therapist 01:04:00 – Transition as Self-Harm 01:09:00 – What Should Be Banned 01:14:30 – De-Transitioning & Regret 01:19:00 – Stereotypes, Confusion & Pressure 01:23:00 – Media Gaslighting & The BBC 01:27:00 – Dangers of the Conversion Therapy Ban 01:31:00 – Why This Isn't Over - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - LISTEN / SUBSCRIBE TO THE PODCAST › Apple Podcasts: https://apple.co/40ruY9K › Spotify: https://spoti.fi/3Wc94Vu › Fountain: https://bit.ly/FountainPM › YouTube: https://bit.ly/YouTube_PM › Rumble: https://bit.ly/RumblePM FILMED BY CURTIS TAYLOR › https://www.curttaylor.co.uk/ › https://x.com/curttayloruk/ EDITED BY CONOR MCCORMACK › https://x.com/ConorM04 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
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#131 - Angela McArdle - The Fight for Freedom in a Post-Rational World
Angela McArdle is the former Chair of the US Libertarian Party and a leading voice in the global liberty movement. In this conversation, we explore the ideological war raging beneath the surface: between those who want freedom and those who want control. CONTACT PETE › Website - http://petermccormack.com › Feedback - https://www.petermccormack.com/contact › Email - [email protected] › Instagram - /mccormack555 › X/Twitter - https://x.com/petermccormack/ CONNECT WITH ANGELA MCARDLE › X/Twitter - https://x.com/RealAngelaMc SPONSORS › IREN - https://www.iren.com/ › Ledger - https://www.ledger.com/ › Gemini - https://gemini.com/ › Cape - https://www.cape.co/ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - TIMESTAMPS: 00:00:00 – Introduction 00:03:20 – UK's Tax Exodus & Class Divide 00:08:00 – Identity Politics to Class Warfare 00:10:20 – Third-Party Strategy & Trump Deal 00:15:40 – Mises Caucus & RFK 00:22:00 – Free Ross Ulbricht 00:27:30 – Charlie Kirk's Death 00:32:00 – US Cities in Decline 00:38:30 – NHS vs Private Care Models 00:45:00 – Bitcoin, Financial Freedom & State Control 00:49:40 – Operation Choke Point 2.0 00:54:00 – Tornado Cash & Criminalising Code 01:00:00 – Free Speech & Privacy 01:04:30 – Ian Freeman's Case 01:10:00 – COVID as Control, Not Health 01:14:00 – Civil Liberties Are Dying 01:18:00 – The Cold War: Freedom vs Free Stuff 01:24:00 – Guns, Rights & Self Defence 01:30:00 – Liberty's, Future & the 2028 Plan - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - LISTEN / SUBSCRIBE TO THE PODCAST › Apple Podcasts: https://apple.co/40ruY9K › Spotify: https://spoti.fi/3Wc94Vu › Fountain: https://bit.ly/FountainPM › YouTube: https://bit.ly/YouTube_PM › Rumble: https://bit.ly/RumblePM FILMED BY CURTIS TAYLOR › https://www.curttaylor.co.uk/ › https://x.com/curttayloruk/ EDITED BY CONOR MCCORMACK › https://x.com/ConorM04 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
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PMQs #003 - Four Lies Buys A Generation of Decay
The third episode of PMQs is here. Peter McCormack breaks down how political lies, from manifestos to media narratives, create decline across generations. He dismantles Rachel Reeves' gaslighting, Keir Starmer's child poverty lies, the failure of party politics and why trust in democracy is collapsing. SHOW NOTES › https://www.youtube.com/watch?v=rDOsm-CYUwQ › https://x.com/JamesMelville/status/1994278043137761412 › https://x.com/Nigel_Farage/status/1993966404354101428 › https://x.com/SkyNews/status/1995089190481248354 CONTACT PETE › Website - http://petermccormack.com › Feedback - https://www.petermccormack.com/contact › Email - [email protected] › Instagram - /mccormack555 › X/Twitter - https://x.com/petermccormack/ SPONSORS › IREN - https://www.iren.com/ › Ledger - https://www.ledger.com/ › Gemini - https://gemini.com/ - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - TIMESTAMPS: 00:01:30 - Rachel Reeves Misleading the Public 00:05:02 - Keir Starmer's Lies 00:08:24 - Labour's Broken Manifesto Promises 00:10:10 - Rachel Reeves' Gaslighting the Public 00:18:05 - Four Lies Buys a Generation of Decline 00:20:05 - Will Reform be any Different 00:26:28 - Every Election's Biggest Lie is "Change" 00:31:37 - Building a Better Future for our Kids 00:38:48 - Inflation is Destructive 00:41:54 - Proposal for Structural Change 00:46:58 - Sleepwalking into Authoritarianism 00:52:51 - Accountability for Politicians - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - LISTEN / SUBSCRIBE TO THE PODCAST › Apple Podcasts: https://apple.co/40ruY9K › Spotify: https://spoti.fi/3Wc94Vu › Fountain: https://bit.ly/FountainPM › YouTube: https://bit.ly/YouTube_PM › Rumble: https://bit.ly/RumblePM FILMED BY CURTIS TAYLOR › https://www.curttaylor.co.uk/ › https://x.com/curttayloruk/ EDITED BY CONOR MCCORMACK › https://x.com/ConorM04 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
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