Economist Warns: FOMO Is Your Biggest Financial Danger Right Now with David McWilliams

Start making passive income here: https://bit.ly/3VGVJnx  Uncertainty is everywhere right now will the Fed actually cut rates, will tariffs escalate, are we headed for a recession, or another melt-up? If you’ve been frozen on the sidelines, this episode is your wake-up call. I’m joined by David McWilliams economist, bestselling author of The History of Money, founder of Kilkenomics (the world’s only economics + stand-up comedy festival), and a rare voice who makes complex macro easy to act on.

We cut through the noise and talk about the only decisions that matter for investors and business owners when markets feel irrational. David explains why zero rates broke traditional valuation, why the S&P 500’s concentration is a warning sign, and how a wave of “unicorns” could face a liquidity crunch as insiders try to exit. We cover the bond vigilantes, the political tug-of-war around the Federal Reserve, and what happens if headline cuts collide with a rising long end. Translation: don’t anchor your future to a single narrative.

We also zoom out: reserve-currency shifts from sterling to the dollar didn’t happen overnight and today’s geopolitics (think Modi, Putin, Xi) suggest the next regime is forming in plain sight. David lays out the 40-year cycle change we’re living through: from free trade to tariffs, small to big government, low to rising inflation, open borders to deportations and why those flips create both fear and once-in-a-cycle opportunities.

Most important, we bring it back to action. If you’ve listened to me for any length of time, you know I want you work-optional with passive income so you can live free and create a ripple effect. That requires discipline in frothy markets: take profits without guilt, build dry powder, and allocate on your terms, not on Reddit’s. David reminds us: “Nobody ever lost money selling too early.” I’ll add: nobody gets free by outsourcing their thinking to FOMO.

We hit practical takeaways on risk management, why cash is a decision not a “do nothing,” how to read the tape when algorithms replace traders, and why money is ultimately a human technology which is why your judgment and relationships matter most. David's links: - Website: https://www.davidmcwilliams.ie/ - X: https://x.com/davidmcw?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor  - Facebook: https://www.facebook.com/davidmcw/  - Instagram: https://www.instagram.com/dmcw_podcast/?hl=en  - LinkedIn: https://www.linkedin.com/in/damcwilliams/?originalSubdomain=ie