Feb 5, 2024
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)