The David McWilliams Podcast The King’s Gambit: DIY Declan, Trump’s Market Meltdown & Musk’s 18th-Century Twin
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Mar 4, 2025 The conversation kicks off with humorous DIY escapades and the social dynamics at home improvement stores. It then pivots to the tumultuous relationship between financial markets and Trump, drawing historical parallels with 18th-century financial visionary John Law. The hosts unpack the concept of 'return-free risk' in Bitcoin, tying it to influential figures like Elon Musk. With speculation looming large, they discuss the cyclical nature of financial history and ponder whether we're on the brink of a modern-day economic reckoning.
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DIY Declan
- David McWilliams shares a humorous story about his DIY struggles in his newly renovated basement.
- He recalls a chapter he wrote in "The Pope's Children" about a character named DIY Declan who epitomizes the confident DIY enthusiast.
The Trump Dump
- Financial markets are currently rejecting Donald Trump, whose reputation hinges on market success.
- This rejection, termed the "Trump Dump," mirrors the 2008 financial crisis, with risky assets declining as investors panic.
Powell's Stance
- Unlike previous crises, current Federal Reserve Chair Jerome Powell seems unwilling to bail out borrowers.
- Powell's inaction creates a domino effect, triggering margin calls and accelerating asset sales, impacting the economy.
