The David McWilliams Podcast Economics in a Tent: Live at Electric Picnic 2025
Sep 4, 2025
A vibrant discussion unfolds at a music festival, blending economics and culture. The impacts of Trump’s policies on the economy are dissected, revealing a brewing fiscal crisis. Ireland's paradox of seeming wealth contrasted with real poverty sparks intriguing debates. The music economy faces scrutiny, where streaming’s dynamics and algorithmic dominance affect artist earnings. Finally, trust in money as a social construct is explored, highlighting the global implications of economic policies. It's a lively mix of insight and entertainment!
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Multi-Decade Economic Cycles
- Mac maps multi-decade economic cycles from post-war social democracy to Reagan-Thatcher finance to today's populist reboot.
- He argues Trump exemplifies a new political-economic phase that could reshape fiscal and monetary norms.
Trump Could Trigger A Dollar Crisis
- Mac forecasts Trump's presidency will likely end in a fiscal, monetary, and dollar crisis if institutions are undermined.
- He warns eroding confidence in the dollar risks progressive withdrawal of foreign capital from US assets.
Dorchester Pitch And A Career Turn
- Mac recounts the 1992 Irish currency crisis and being sent to the Dorchester to defend Ireland's debt to investors.
- He then joined UBS soon after, learning that central bankers often don't know and bankers don't care.
