Is buying a house the biggest financial mistake you could make right now, and will the next Great Depression hit even harder? Morgan Housel reveals the real story.

Morgan Housel, partner at Collaborative Fund and bestselling author of ‘The Psychology of Money’ and ‘Same As Ever’, is one of the world’s top experts on financial psychology, economic collapse warnings, and building true financial freedom. His life-changing insights have transformed how millions approach money, investing, and wealth-building.

He explains:

Why America’s economy could be quietly collapsing
How devastating tariffs could trigger another Great Depression
Why robots are replacing the middle class faster than ever
The hidden $30 trillion debt threatening the future of the US
Why buying a home right now could be a financial trap
How to build true financial freedom even during turbulent times

00:00 Intro
02:10 Timeless Lessons of Greed, Wealth, and Happiness
04:51 The Current Tariff Situation in 2025
07:05 What Are Tariffs?
11:51 Trump's True Reason for the Tariffs
18:24 Why Is China the Factory of the World?
20:35 China Stopped Being a Cheap Labour Country
23:04 What's the Impact of the Tariffs?
25:07 America's Trust
26:42 Are We Heading for a Recession?
29:30 The Importance of Backups During a Recession
30:48 How to Be Financially Free in 2025
35:59 The Evolutionary Desire to Show Off — Status
40:42 Salary Differences
43:09 We Have a Distorted View of Financial Wealth
44:28 Advice for the Economic Crisis
45:55 How Much Money Do You Need Saved?
46:56 The Impact of AI in Our Wealth Building
56:22 The Skills You'll Need in the AI Era
57:56 How to Have a Money Mindset
01:00:56 Why People Get Stuck in Crypto Scams
01:03:34 Women vs. Men: Who's Better at Saving and Taking Risks?
01:06:15 Crypto
01:07:23 What History Tells Us About New Technologies, Wealth, and Failure
01:08:51 Could the Crypto Security System Be Broken?
01:10:21 The Strategies Wealthy People Use
01:11:55 Intelligence vs. Endurance
01:13:28 Why Is Perseverance Key?
01:15:12 The Best Way to Have a Big Investment Return
01:17:01 The Power of Compounding in Your Savings
01:22:06 How Money and Psychology Are Linked
01:27:03 You Need to Change Your View on Savings
01:31:10 Biggest Regrets of People on Their Deathbeds
01:37:20 The Most Asked Questions About Finances
01:41:17 Where Are Your Investments Allocated?
01:42:03 Vanguard Index Fund
01:49:54 Where to Invest Spare Cash?
01:56:24 The Dangers of Retiring
02:03:31 How to Live a Happy Life

You can follow Morgan, here:

Twitter - https://bit.ly/3RzBBSc

Website - https://bit.ly/42LM4PD

Instagram - https://bit.ly/449vnQp

You can pre-order Morgan’s books, The Art of Spending Money: Simple Choices for a Richer Life, here: https://amzn.to/3GmHRu4 (US) / https://amzn.to/3EEy5mE (UK)

You can find out more about the books mentioned, here:

‘The Intelligent Investor’, Benjamin Graham: https://amzn.to/4iwqHHW

The 1% Diary is back – limited time only:

https://bit.ly/1-Diary-Megaphone-ad-r…

The Diary Of A CEO Conversation Cards (Second Edition):

https://g2ul0.app.link/f31dsUttKKb

Get email updates: https://bit.ly/diary-of-a-ceo-yt

Think like a CEO – join the 100 CEOs newsletter: https://bit.ly/100-ceos-newsletter

Follow Steven: https://g2ul0.app.link/gnGqL4IsKKb

Sponsors:

Get your hands on the Diary Of A CEO Conversation Cards here: https://bit.ly/conversationcards-mpPerfect Ted - https://www.perfectted.com with code DIARY40 for 40% off

Learn more about your ad choices. Visit megaphone.fm/adchoices

The Brilliant Idiots

"I’m a Lil T Pot, D!ck and Mouf

Remember Everything You Learn from Podcasts