It's Time to Upgrade Capitalism

Dan and Corey kick off the show by discussing debt spirals, death spirals, their effect on  things like GDP and economic growth, and the increasing reliance on debt spending. They point out that the U.S. government's annual interest payment on debt will soon surpass the budget for national defense. Dan also speculates that the government is using illegal immigration as a means to depress wages. (0:41) Next, crypto expert Eric Wade joins the conversation by discussing his current thoughts on the crypto market as a whole. He notes that the U.S. just approved bitcoin spot ETFs, which will allow investors to profit from bitcoin without actually holding the token. He also brings up the bitcoin halving that's happening this April, AI's role in crypto, and how crypto is being used to solve real-world problems. Eric briefly name-drops two such cryptos that have real- world applications today. (22:08)After, he goes into detail on his new book called America vs. Americans: How Capitalism Has Failed a Capitalist Nation and What We Can Do About It. This book focuses on American "laborism," the shortcomings of our current capitalist system, and how all of this could be improved. Eric describes that government, economics, and politics are a lot closer together than they should be. He explores the history of capitalism and talks about the glaring flaws of the economic system that preceded it – mercantilism. (35:30) Eric then transitions into talking about laborism and how it could be an upgrade from capitalism. He spends the rest of the episode detailing how it could pull millions of folks out of poverty, why it would be so closely tied to education, and the fact it would call for a hard currency and a smaller government with less government intervention. As he explains, it could solve many of the country's problems. (42:35)