UnHerd with Freddie Sayers Yanis Varoufakis: Overthrow the Big Tech tyrants
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Nov 15, 2024 
In this conversation, Yanis Varoufakis, former finance minister of Greece and author of ‘Techno Feudalism’, critiques the rise of Big Tech as new tyrants reshaping global power dynamics. He discusses how the digital landscape has effectively replaced traditional capitalism, leading to increased cronyism and economic instability. Varoufakis draws parallels between the economic crises in Argentina and Greece, advocating for debt restructuring and national sovereignty. He also reflects on the failures of leftist movements to address these pressing issues.
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Trump's Appeal to the Working Class
- 60% of Americans live paycheck to paycheck, a key factor in Trump's appeal.
- The Democrats, seen as out of touch with economic struggles, abandoned working-class voters.
America's Economic Transformation
- Both Democrats and establishment Republicans presided over America's shift from a surplus to a deficit nation.
- This shift led to deindustrialization and reliance on foreign capital, fueling resentment among voters.
Trump's Tariff Dilemma
- Trump's proposed tariffs, while appealing to some, are unlikely to reverse deindustrialization and may harm his own supporters.
- Ending the trade deficit could negatively impact the real estate sector and financial markets.
