Podcast appearances and mentions of Liz Truss

British Conservative politician

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Latest podcast episodes about Liz Truss

The Lowdown from Nick Cohen
The Stagnation nation

The Lowdown from Nick Cohen

Play Episode Listen Later May 26, 2025 35:40


UK Economic Stagnation AnalysisNick Cohen @NickCohen4 talks to Simon Nixon @Simon_Nixon discussed the UK's economic stagnation since 2008, highlighting the impact of financial sector reliance, austerity policies, and Brexit. They analysed Keir Starmer's recent EU trade deal, noting modest improvements but emphasising its limited impact on addressing broader economic challenges. Simon suggested that deeper EU integration could yield greater economic benefits, while Andrew questioned whether rejoining the EU would be politically feasible.Businesses Navigate Political Party ChallengesNick Cohen & Simon Nixon discuss the challenges businesses face in aligning with political parties, particularly the Conservative Party, due to its current opposition to policies beneficial for business, such as the Brexit deal and trade agreements with India. They noted that businesses may seek alternatives to advance their agendas, given the presence of multiple parties in the political landscape. Simon highlighted the economic impact of the recent National Insurance rise, which was implemented to fund social care but has been met with skepticism and uncertainty about its long-term effects on employment and inflation.Economic Policy Challenges and SolutionsSimon and Nick discussed the challenges of economic policy, particularly the reliance on low tax rates and central banks to stimulate growth. They agreed that raising taxes is necessary to reduce debt and ease pressure on central banks, as seen in both the UK and US.Economic Challenges in UK and USThe discussion focused on the economic challenges facing both the UK and the US, with Simon Nixon highlighting how Liz Truss's fiscal policies have left limited room for manoeuver before requiring tax increases or spending cuts. Nixon compared the US situation under Donald Trump, noting that while Trump's tax cuts were temporary, his administration is now pushing through a budget that would increase the deficit by $3.3 trillion over the next decade, primarily to prevent tax rates from rising.Global Economic Challenges and ReformsSimon discussed the global economic challenges facing various countries, including Britain, France, Germany, and Italy, emphasising that no country has a perfect solution. He highlighted the impact of technology, particularly AI, on employment and the need for bold administrative reforms to improve state management. Simon also touched on the Labour Party's sudden rise to power and the lack of comprehensive plans upon taking office, noting the difficulty of implementing significant reforms while in government.Read all about!Simon Nixon's Substack column Wealth of Nations is one of the best and most insightful reads on economics and finance. His latest column - Europe's Crippling Risk Aversion - is here.Nick Cohen's regular Substack column Writing from London on politics and culture from the UK and beyond is another must-read. Hosted on Acast. See acast.com/privacy for more information.

Talking Politics
Q&A: Will Keir Starmer sack Rachel Reeves?

Talking Politics

Play Episode Listen Later May 16, 2025 25:12


Could Prime Minister Keir Starmer really sack Chancellor Rachel Reeves before the next election?In this week's Talking Politics Q&A, Tom Bradby, Robert Peston and Anushka Asthana answer that question and more, including:How are Labour 'putting money in people's pockets' as they claim?Why is the government investigating whether to place a huge restriction on Cash ISAs?Why isn't Labour ramming the point home that Nigel Farage backed Liz Truss' mini budget?Why do politicians swear an oath to the monarch and not the public?Remember to subscribe to Talking Politics on YouTube or your favourite podcast platform so you never miss an episode. You can also catch up on ITVX.Got a question for the team? Email us on talkingpolitics@itv.com or comment on our social media posts.

The Lowdown from Nick Cohen
The Tories are a lost tribe

The Lowdown from Nick Cohen

Play Episode Listen Later May 12, 2025 43:57


The Tories face extinction as a political forceIn the meeting, Nick Cohen and Nick Tyrone, author, activist and political commentator, discussed the potential demise of the Conservative party in the UK. They highlighted the party's ideological confusion and complacency as major factors contributing to their decline. Nick suggested that the Conservative party might be losing its way intellectually and ideologically, and that they are complacent about their situation. They also discussed the rise of the radical right in the form of Nigel Farage's Reform party and the potential impact on the Conservative party. The conversation ended with a discussion on the need for the Conservative party to offer an alternative to the Reform party and the importance of having a strong leader to lead the party forward.Tories' Leadership and Strategy CritiqueThe two Nicks discuss Kemi Badenoch's leadership and strategy for the Tories. Nick Tyrone criticised Kemi's performance, stating she was not good at politics and had a fatal flaw in her strategy. He argued that her focus on culture issues was the wrong approach, as the Tories needed to rebuild their image as competent and pro-business. Nick Tyreone also suggested that Kemi's strategy was the opposite of what the Tories needed to succeed.Conservative Party's Potential Dissolution DiscussedBoth Nicks discuss the potential for the Conservative party to dissolve into the Reform party, led by Nigel Farage, due to their shared right-wing ideologies. They argued that the Conservative party's failure to articulate a unique reason for its existence in the current political climate could lead to its demise.Farage's Departure and Reform Party's FutureThey then discuss the potential impact of Nigel Farage's departure on the Reform Party's momentum. They agreed that Farage's personality cult is crucial to the party's success, and his absence could lead to its collapse.The Tories' grisly dilemmaNick Tyrone says the Tory Party face a grisly dilemma if it decides it has blown its ill-deserved credentials for being the party of business and economic competence thanks to Brexit and Liz Truss. He explains, "If that's the case, just make, just do whatever you need to do with Farage. Make Farage the leader of the conservative party. Melt the conservative party into Reform all the conservative party and just become. Just make Reform the one like right wing vehicle in the country, because that's gonna be more electorally efficient if there's no reason to exist. And what's happening is they are being crushed on one end by the Lib Dems and crushed on the other end by Reform, and they don't appeal to either group. "Read all about it!Nick Tyrone is an author, activist, policy advisor and commentator and keen observer of the Tory party whose Substack column as Neoliberal Centrist Dad - nick.tyrone.substack.com - is a must read for those of us desperate for the return of sanity to our national political discourse.Nick Cohen's @NickCohen4 latest Substack column Writing from London on politics and culture from the UK and beyond. Hosted on Acast. See acast.com/privacy for more information.

The Dozen with Liam Tuffs
Islamic & Woke Ideologies are DESTROYING the UK: Andrew Gold

The Dozen with Liam Tuffs

Play Episode Listen Later May 11, 2025 80:42


Best known for his hugely absorbing and thought-provoking podcast, Heretics, Andrew Gold has probed the impressive minds of guests ranging from the likes of Richard Dawkins, Douglas Murray, and Liz Truss, to Tommy Robinson, Alex Phillips, and Katie Hopkins.A fearless cerebral approach to wide-ranging and sensitive topics have made him one of the most acclaimed alternative media figures in the UK. Find out about his journeys into the weird, the depraved, and the downright disturbing. Plus of course a good old rant about the state of the UK!Proudly sponsored by Gold Seal - suppliers of the highest grade Shilajit and health products in the UK. For a 10% discount on their pure premium Shilajit, Mushroom Capsules, Testosterone Booster, and other health supplements, visit:https://goldsealshilajit.com/?oly=liamtuffs&utm_source=YouTube&utm_medium=LiamTuffs&utm_campaign=shilajitresins&utm_content=videodescription

The Dave Berry Breakfast Show
The Liz Truss Of Cities

The Dave Berry Breakfast Show

Play Episode Listen Later May 8, 2025 33:14


This morning, Dave, Matt and Glenn all revealed their ultimate 80's movie song, and Dave's on a mission to make his favourite number one. Also, Dave wanted to know all about your hometown glories, as he discovered Kylie Minogue is actually from Wales..

On Investing
Is Confidence Eroding in U.S. Investability? (With Dario Perkins)

On Investing

Play Episode Listen Later May 2, 2025 43:58


In this conversation, Liz Ann Sonders interviews Dario Perkins of TS Lombard. They discuss the growing international skepticism towards U.S. policy, the implications of trade deficits and capital account surpluses, and the risks of recession in the current economic climate. They explore the Federal Reserve's reaction function in light of labor market dynamics and the political influence on monetary policy. The discussion also touches on the potential for a "Liz Truss moment" in the U.S. and concludes with a look at the bull case for the U.S. economy.Finally, Kathy and Liz Ann discuss the data and economic indicators they will be watching in the coming week.You can keep up with Dario Perkins on X or follow his podcast Perkins Vs Beamish.On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting. If you enjoy the show, please leave a rating or review on Apple Podcasts.Important DisclosuresInvestors should consider carefully information contained in the prospectus, or if available, the summary prospectus, including investment objectives, risks, charges, and expenses. You can request a prospectus by calling 800-435-4000. Please read the prospectus carefully before investing.The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.  All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness, or reliability cannot be guaranteed.  Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.  Investing involves risk, including loss of principal.  Performance may be affected by risks associated with non-diversification, including investments in specific countries or sectors. Additional risks may also include, but are not limited to, investments in foreign securities, especially emerging markets, real estate investment trusts (REITs), fixed income, municipal securities including state specific municipal securities, small capitalization securities and commodities. Each individual investor should consider these risks carefully before investing in a particular security or strategy.Past performance is no guarantee of future results, and the opinions presented cannot be viewed as an indicator of future performance.The comments, views, and opinions expressed in the presentation are those of the speakers and do not necessarily represent the views of Charles Schwab.  All names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security.Currency trading is speculative, volatile and not suitable for all investors.Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.BLS is the Bureau for Labor Statistics.The Sahm Rule identifies signals related to the start of a recession when the three-month moving average of the national unemployment rate (U3) rises by 0.50 percentage points or more relative to its low during the previous 12 months.The policy analysis provided by the Charles Schwab & Co., Inc., does not constitute and should not be interpreted as an endorsement of any political party.(0525-RV98)

Pod Save the UK
The UK Supreme Court ruling and the fight for trans rights

Pod Save the UK

Play Episode Listen Later May 1, 2025 57:41


In the wake of the UK Supreme Court ruling that the legal definition of woman should be based on biological sex, Nish and Zoë speak to LGBTQ+ activist Ellen Jones, author of "Outrage: Why the fight for LGBTQ+ equality is not yet won and what we can do about it" about the implications for trans people and what we can do about it.  They discuss how the campaigning of reactionaries like billionaire author JK Rowling led to the decision that has seen Prime Minister Keir Starmer backflipping on his support for the trans community. Ellen speaks on the dangers of the recent ruling and practical ways to resist and support the trans community. Then, as the Tories flounder ahead of the local elections, Zoë hedges her bets. And we take a look at two shocking attempts to seize the limelight by Liz Truss and Tony Blair. Plus, ahead of the Australian election this weekend, Nish speaks to former Deputy Prime Minister Wayne Swan about how, in the wake of Trump's tariffs and attacks on allies, the commonwealth might be more important than ever and what the US and UK could learn from Australia's compulsory preferential voting system. CHECK OUT THESE DEALS FROM OUR SPONSORS  AURA FRAMES https://www.auraframes.com CODE: PSUK SHOPIFY https://www.shopify.co.uk/podsavetheuk  Guests: Ellen Jones Wayne Swan Useful links: Outrage: Why the fight for LGBTQ+ equality is not yet won and what we can do about it by Ellen Jones https://www.panmacmillan.com/authors/ellen-jones/outrage/9781035030606 The Good Law Project Crowdfunder to legally challenge the Supreme Court Decision https://goodlawproject.org/crowdfunder/supreme-court-human-rights-for-trans-people/ Compilation of protests against the Supreme Court Decision https://whatthetrans.com/compilation-of-protests-against-the-supreme-court/  Volunteer at your local trans pride - London Trans Pride call for stewards https://www.instagram.com/londontranspride Write to your MP https://transactual.org.uk/change-actions/write-to-your-mp/ Reclaim the framing of UK trans rights https://docs.google.com/document/d/e/2PACX-1vTWR6sdj_xWKoOGLmwp0JotSL3NBrYSd1Dy3VZOIIKJKy0Ej6cFPt32IIKan3qCq6fG4lpgrw46ewO0/pub?urp=gmail_link Protect the Dolls T-shirt in support of Trans Lifeline, a US-based charity https://connerives.com/products/pre-order-protect-the-dolls-t-shirt Info on voting in the Australian Election abroad: ALPABROAD.ORG  Audio Credits Sky News ITV News Pod Save the UK is a Reduced Listening production for Crooked Media. Contact us via email: PSUK@reducedlistening.co.uk Insta: https://instagram.com/podsavetheuk BlueSky: @podsavetheuk.crooked.com Twitter: https://twitter.com/podsavetheuk TikTok: https://www.tiktok.com/@podsavetheuk Facebook: https://facebook.com/podsavetheuk Youtube: https://www.youtube.com/@PodSavetheUK Learn more about your ad choices. Visit megaphone.fm/adchoices

Keen On Democracy
Episode 2517: Soli Ozel on the Light at the End of the Authoritarian Tunnel

Keen On Democracy

Play Episode Listen Later Apr 29, 2025 47:09


Few analysts are more familiar with the politics of both contemporary Turkey and the United States than my old friend , the distinguished Turkish political scientist Soli Ozel. Drawing on his decades of experience in both countries, Ozel, currently a senior fellow at the Institut Montaigne, explains how democratic institutions are similarly being challenged in Trump's America and Erdogan's Turkey. He discusses the imprisonment of Istanbul's popular mayor Ekrem Imamoglu, restrictive speech in American universities, and how economic decline eventually undermines authoritarian regimes. Ozel emphasizes that effective opposition requires both public discontent and compelling leadership alternatives, which Turkey has developed but America currently sorely lacks. Most intriguingly, he suggests that Harvard's legal battle against Trump could be as significant as the 1925 Scopes trial which marked the end of another bout of anti-scientific hysteria in America. 5 Key Takeaways* Populist authoritarianism follows a similar pattern regardless of left/right ideology - controlling judiciary, media, and institutions while claiming to represent "the people" against elites.* Academic freedom in America has declined significantly, with Ozel noting he experienced more classroom freedom in Turkey than at Yale in 2019.* Economic pain combined with a crisis of legitimacy is crucial for challenging authoritarian regimes, but requires credible opposition leadership to succeed.* Istanbul mayor Imamoglu has emerged as a powerful opposition figure in Turkey by appealing across political divides and demonstrating practical governance skills.* Turkey's strategic importance has increased due to its position between war zones (Syria and Ukraine) and Europe's growing need for security partners as American support becomes less certain. Full TranscriptAndrew Keen: Hello, everybody. It's not great news these days that the U.S. Brand has been, so to speak, tarnished as a headline today on CNN. I'm quoting them. CNN, of course, is not Donald Trump's biggest fan. Trump tarnishes the U S brand as a rock of stability in the global economy. I'm not sure if the US was ever really a rock of stability for anything except itself. But we on the show as. As loyal viewers and listeners know, we've been going around the world, taking stock of the US brand, how it's viewed around the word. We did a show last week with Simon Cooper, the Dutch-based Paris writer of the Financial Times, who believes it's time for all Americans to come and live in Europe. And then with Jemima Kelly, another London-based correspondent. And I thought we would broaden. I asked european perspective by visiting my old friend very old friend Soli Ozel. iVve known him for almost forty years he's a. Senior fellow of international relations and turkey at the montane institute he's talking to us from vienna but he is a man who is born and spends a lot of his time thinking about. Turkey, he has an interesting new piece out in the Institute Montaigne. Turkey, a crisis of legitimacy and massive social mobilization in a regional power. I want to talk to Soli later in this conversation about his take on what's happening in Turkey. But first of all, Soli, before we went live, you noted that you first came to America in September 1977. You were educated here, undergraduate, graduate, both at uh, sized in Washington DC and then at UC Berkeley, where you and I studied together at the graduate program. Um, how do you feel almost 50 years, sorry, we're dating ourselves, but how did you feel taking off your political science cap, your analyst cap, how did you feel about what's happening in America as, as a man who invested your life in some ways in the promise of America, and particularly American education universities.Soli Ozel: Yeah, I mean, I, yes, I came to the States or I went to the States in September of 1977. It was a very different America, post Vietnam. And I went through an avant garde college liberal arts college.Andrew Keen: Bennington wasn'tSoli Ozel: Bennington College, and I've spent about 11 years there. And you and I met in 1983 in Berkeley. And then I also taught at American universities. I taught at UC Santa Cruz, Northwestern, SAIS itself, University of Washington, Yale, and had fellowships in different parts. Now, of course, in those years, a lot has changed in the US. The US has changed. In fact, I'm writing a piece now on Christopher Lash. And reading Christopher Lasch work from the 60s and the 1970s, in a way, you wonder why Trumpism has not really emerged a bit earlier than when it did. So, a lot of the... Dynamics that have brought Donald Trump to power, not once, but twice, and in spite of the fact that, you know, he was tried and found guilty and all that. Many of those elements have been there definitely since the 1980s, but Lascch identified especially this divergence between educated people and less educated people between brainies and or the managerial class and the working class in the United States. So, in a way, it looks like the Trumpism's triumph came even a bit late, although there were a couple of attempts perhaps in the early 1990s. One was Pat Buchanan and the other one, Ross Perot, which we forget that Ross Perot got 19% of the vote against in the contest when Bill Clinton. Won the election against George H.W. Bush. So underground, if you will, a lot was happening in the United States.Andrew Keen: All right. And it's interesting you bring up Lash, there's that sort of whole school Lasch Daniel Bell, of course, we had Daniel Bell's son, David Bell, on the show recently. And there's a lot of discussion, as I'm sure you know, about the nativism of Trump, whether it's uniquely American, whether it was somehow inevitable. We've done last week, we did a show about comparing what's happening now in America to what happened after the First World War. Being less analytical, Solé, my question was more an emotional one to you as someone who has built their life around freedom of expression in American universities. You were at Bennington, you were at SICE, you're at UC Berkeley, as you know, you taught at UC Santa Cruz and Yale and many other places. You come in and out of this country giving lectures. How do you personally feel about what's happening?Soli Ozel: Yeah, okay. I mean, in that sense, again, the United States, by the way, I mean the United States has been changing independently of Mr. Trump's presidency. It was much more difficult to be, I mean when I went to college in Bennington College, you really did not bite your tongue when you were going to speak either as a student or a professor. And increasingly, and especially in my last bout at Yale in 2019, I felt that, you know, there were a lot of constraints on what you could say or how you could say it, whether you would call it walkism, political correctness, whatever it was. It was a much, the atmosphere at the university was much more constrained in terms of what transpired in the classroom and that I mean, in Turkey, I had more freedom in terms of how we debated things in class that I felt that...Andrew Keen: That is astonishing. So you had more freedom in...Soli Ozel: As well, you did in Yale in 1990. I'm talking about not the political aspect of things, but how you debate something, okay, whether or not, I mean, there would be lots of views and you could you could present them without insulting anyone, however you presented them was fine, and this is how what the dynamics of the classroom had been when I was a student. So, in that sense, I guess it wasn't just the right that constrained speech, but also the left that constrained the speech, because new values were added or new norms were invented to define what can and cannot be said. And of course, that goes against the grain of what a university education ought to be. I mean, I had colleagues. In major universities who told me that they really were biting their tongue when they were giving their lectures. And that is not my understanding of education or college education and that certainly has not been my experience when I came to the States and for my long education here for 11 years.Andrew Keen: Solit, you and I have a long history of thinking about the Middle East, where back in the early 80s, we TA'd a class on the Arab-Israeli conflict with Yaya Sadowski, who at that time was a very independent thinker. I know he was a close friend of yours. I was always very influenced by his thinking. You're from Izmir, from a Jewish family in Turkey. So you're all too familiar with the complexity of anti-Semitism, Israel, the Middle East, Turkey. What do you personally make of this hysteria now on campus about anti-semitism and throwing out anyone, it seems, at least from the Trump point of view, who are pro-Palestinian? Is this again, I mean, you went back to Christopher Lasch and his thinking on populism and the dangers of populism in America. Or is this something that... Comes out of the peculiarities of American history. We have predicted this 40 years ago when you and I were TAing Sadowski's class on Arab-Israeli conflict at Berkeley.Soli Ozel: The Arab-Israeli conflict always raises passions, if you will. And it's no different. To put it mildly, Salvador, I think. Yeah, it is a bit different now. I mean, of course, my hunch is that anti-Semitism is always present. There is no doubt. And although I followed the developments very closely after October 7. I was not in there physically present. I had some friends, daughters and sons who were students who have reported to me because I'm supposed to know something about those matters. So yeah, antisemitism is there. On the other hand, there is also some exaggeration. We know that a lot of the protesters, for instance, were Jews themselves. But my hunch is that the Trump administration, especially in their attack against elite universities, are using this for political purposes. I'm sure there were other ways of handling this. I don't find it very sincere. And a real problem is being dealt with in a very manipulative political way, I think. Other and moreover So long as there was no violence and I know there were instances of violence that should be punished that I don't have any complaints about, but partially if this is only related to what you say, I'm not sure that this is how a university or relations between students at the university ought to be conducted. If you're not going to be able to say what you think at the university, then what else are you going to say? Are you going be able say it? So this is a much more complicated matter than it is being presented. And as I said, my view or based on what I follow that is happening at colleges, this is being used as an excuse. As somebody I think Peter Beinhart wrote today in the New York Times. He says, No, no, no. It is not really about protecting Jewish students, but it is protecting a certain... Type of Jewish students, and that means it's a political decision, the complaints, legitimate complaints, perhaps, of some students to use those against university administrations or universities themselves that the Trump administration seems to be targeting.Andrew Keen: Yeah, it's interesting you bring up Beinart. He was on the show a year or two ago. I think he notes that, I mean, I don't want to put words into his mouth, but he seems to be suggesting that Jews now have a responsibility almost to speak out, not just obviously about what's happening in the U.S., but certainly about what is happening in Gaza. I'm not sure what you think on.Soli Ozel: He just published a book, he just published the book being Jewish in the US after Gaza or something along those lines. He represents a certain way of thinking about what had happened in Gaza, I mean what had happened to Israel with the attack of Hamas and what had happened afterwards, whether or not he represents the majority. Do you agree with him? I happen to be. I happen to be sympathetic to his views. And especially when you read the book at the beginning, it says, look, he's a believer. Believer meaning he is a practicing Jew. So this is not really a question about his own Jewishness, but how he understands what being a Jew actually means. And from that perspective, putting a lot of accent to the moral aspects of Jewish history and Jewish theological and secular thinking, He is rebelling, if you will, against this way of manipulative use. On the part of some Jewish organizations as well of what had gone on and this is this he sees as a along with others actually he also sees this as a threat to Jewish presence in the United States. You know there is a simultaneous increase in in anti-semitism. And some people argue that this has begun even before October 7. Let us not forget Charlottesville when the crowds that were deemed to be nice people were chanting, Jews will not replace us, and those people are still around. Yeah, a lot of them went to jail.Andrew Keen: Yeah, I mean Trump seemed to have pardoned some of them. And Solly, what do you make of quote-unquote the resistance to Trump in the U.S.? You're a longtime observer of authoritarianism, both personally and in political science terms. One of the headlines the last few days is about the elite universities forming a private collective to resist the Trump administration. Is this for real and is it new? Should we admire the universities or have they been forced into this position?Soli Ozel: Well, I mean, look, you started your talk with the CNN title. Yeah, about the brand, the tarnishing of the U.S. Whatever the CNN stands for. The thing is, there is no question that what is happening today and what has been happening in my judgment over the last two years, particularly on the issue of Gaza, I would not... Exonerate the Biden administration and the way it actually managed its policy vis-a-vis that conflict. There is, of course, a reflection on American policy vis a vis that particular problem and with the Trump administration and 100 days of storm, if you will, around the world, there is a shift in the way people look at the United States. I think it is not a very favorable shift in terms of how people view and understand the United States. Now, that particular thing, the colleges coming together, institutions in the United States where the Americans are very proud of their Madisonian institutions, they believe that that was there. Uh, if you will, insurance policy against an authoritarian drift in their system. Those institutions, both public institutions and private institutions actually proved to be paper tigers. I mean, look at corporations that caved in, look at law firms that arcade that have caved in, Look at Columbia university being, if you will the most egregious example of caving in and plus still not getting the money or not actually stopping the demands that are made on it. So Harvard after equivocating on this finally came up with a response and decided to take the risk of losing massive sums of grants from the federal government. And in fact, it's even suing. The Trump administration for withholding the money that was supposed to go to them. And I guess there is an awakening and the other colleges in order to protect freedom of expression, in order, to protect the independence of higher education in this country, which has been sacrosanct, which is why a lot of people from all around the world, students... Including you and I, right? I mean, that's why we... Yeah, exactly. By the way, it's anywhere between $44 and $50 billion worth of business as well. Then it is there finally coming together, because if you don't hang together, you'll hang separately, is a good American expression that I like. And then trying to defend themselves. And I think this Harvard slope suit, the case of Harvard, is going to be like the Stokes trial of the 1920s on evolution. It's going to be a very similar case, I believe, and it may determine how American democracy goes from now.Andrew Keen: Interesting. You introduced me to Ece Temelkuren, another of your friends from someone who no longer lives in Turkey. She's a very influential Turkish columnist, polemicist. She wrote a famous book, How to Lose a Country. She and you have often compared Turkey. With the rest of the world suggesting that what you're going through in Turkey is the kind of canary in the coal mine for the rest the world. You just came out with a piece, Turkey, a crisis of legitimacy, a massive social mobilization and regional power. I want to get to the details of what's happening in Turkey first. But like Ece, do you see Turkey as the kind of canary and the coalmine that you got into this first? You're kind of leading the narrative of how to address authoritarianism in the 25th century.Soli Ozel: I don't think Turkey was the first one. I think the first one was Hugo Chavez. And then others followed. Turkey certainly is a prominent one. But you know, you and I did other programs and in an earlier era, about 15 years ago. Turkey was actually doing fine. I mean, it was a candidate for membership, still presumably, formally, a candidate for membership in the European Union, but at the time when that thing was alive. Turkey did, I mean, the AKP government or Erdogan as prime minister did a lot of things that were going in the right direction. They certainly demilitarized Turkish politics, but increasingly as they consolidated themselves in power, they moved in a more authoritarian path. And of course, after the coup attempt in 2016 on the 15th of July, that trend towards authoritarianism had been exacerbated and but with the help of a very sui generis if you will unaccountable presidential system we are we find ourselves where we are but The thing is what has been missed out by many abroad was that there was also a very strong resistance that had remained actually unbowing for a long time. And Istanbul, which is, of course, almost a fifth of Turkey's population, 32 percent of its economy, and that's where the pulse of the country actually beats, since 2017 did not vote for Mr Erdogan. I mean, referendum, general election, municipal election. It hasn't, it hasn't. And that is that really, it really represents the future. And today, the disenchantment or discontent has now become much broader, much more broadly based because conservative Anatolia is also now feeling the biting of the economy. And this sense of justice in the country has been severely damaged. And That's what I think explains. The kinds of reaction we had throughout the country to the first arrest and then incarceration of the very popular mayor of Istanbul who is a national figure and who was seen as the main contender for the presidency in the elections that are scheduled to take place in.Andrew Keen: Yeah, and I want to talk more about Turkey's opposition and an interesting New York Times editorial. But before we get there, Soli, you mentioned that the original model was Chavez in Venezuela, of course, who's always considered a leftist populist, whereas Erdogan, Trump, etc., and maybe Netanyahu are considered populists of the right. Is that a useful? Bifurcation in ideological terms or a populist populism that the idea of Chavez being different from Trump because one's on the left and right is really a 20th century mistake or a way of thinking about the 21st century using 20th-century terms.Soli Ozel: Okay, I mean the ideological proclivities do make a difference perhaps, but at the end of the day, what all these populist movements represent is the coming of age or is the coming to power of country elites. Suggests claiming to represent the popular classes whom they say and who are deprived of. Uh, benefits of holding power economically or politically, but once they get established in power and with the authoritarian tilt doesn't really make a distinction in terms of right or wrong. I mean, is Maduro the successor to Chavez a rightist or a leftist? I mean does it really make a difference whether he calls himself a leftists or a rightists? I is unaccountable, is authoritarian. He loses elections and then he claims that he wins these elections and so the ideology that purportedly brought them to power becomes a fig leaf, if you will, justification and maybe the language that they use in order to justify the existing authoritarianism. In that sense, I don't think it makes a difference. Maybe initially it could have made a difference, We have seen populist leaders. Different type of populism perhaps in Latin America. For instance, the Peruvian military was supposed to be very leftist, whereas the Chilean or the Brazilian or the Argentinian or the Uruguayan militaries were very right-wing supported by the church itself. Nicaragua was supposed to be very Leftist, right? They had a revolution, the Sandinista revolution. And look at Daniel Ortega today, does it really matter that he claims himself to be a man of the left? I mean, He runs a family business in Nicaragua. And so all those people who were so very excited about the Nicaraguan Revolution some 45 years ago must be extraordinarily disappointed. I mean, of course, I was also there as a student and wondering what was going to happen in Nicaragua, feeling good about it and all that. And that turned out to be an awful dictatorship itself.Andrew Keen: Yeah, and on this sense, I think you're on the same page as our mutual friend, Moises Naim, who wrote a very influential book a couple of years ago. He's been on the show many times about learning all this from the Latin American playbook because of his experience in Venezuela. He has a front row on this. Solly, is there one? On this, I mean, as I said, you just come out with a piece on the current situation in Turkey and talk a little bit more detail, but is America a few stops behind Turkey? I mean you mentioned that in Turkey now everyone, not just the urban elites in Istanbul, but everyone in the country is beginning to experience the economic decline and consequences of failed policies. A lot of people are predicting the same of Trump's America in the next year or two. Is there just one route in this journey? Is there's just one rail line?Soli Ozel: Like by what the root of established wow a root in the sense of youAndrew Keen: Erdogan or Trump, they come in, they tell lots of lies, they promise a lot of stuff, and then ultimately they can't deliver. Whatever they're promising, the reverse often happens. The people they're supposed to be representing are actually victims of their policies. We're seeing it in America with the consequences of the tariff stuff, of inflation and rise of unemployment and the consequences higher prices. It has something similar. I think of it as the Liz Truss effect, in the sense that the markets ultimately are the truth. And Erdogan, I know, fought the markets and lost a few years ago in Turkey too.Soli Ozel: There was an article last week in Financial Times Weekend Edition, Mr. Trump versus Mr. Market. Trump versus, Mr. Market. Look, first of all, I mean, in establishing a system, the Orban's or Modi's, they all follow, and it's all in Ece's book, of course. You have to control the judiciary, you have to control the media, and then all the institutions. Gradually become under your thumb. And then the way out of it is for first of all, of course, economic problems, economic pain, obviously makes people uncomfortable, but it will have to be combined with the lack of legitimacy, if you will. And that is, I don't think it's right, it's there for in the United States as of yet, but the shock has been so. Robust, if you will, that the reaction to Trump is also rising in a very short period, in a lot shorter period of time than it did in other parts of the world. But economic conditions, the fact that they worsen, is an important matter. But there are other conditions that need to be fulfilled. One of those I would think is absolutely the presence of a political leader that defies the ones in power. And I think when I look at the American scene today, one of the problems that may, one of problems that the political system seems to have, which of course, no matter how economically damaging the Trump administration may be, may not lead to an objection to it. To a loss of power in the midterms to begin with, is lack of leadership in the Democratic Party and lack of a clear perspective that they can share or program that they present to the public at large. Without that, the ones that are in power hold a lot of cards. I mean, it took Turkey about... 18 years after the AKP came to power to finally have potential leaders, and only in 2024 did it become very apparent that now Turkey had more than one leader that could actually challenge Erdogan, and that they also had, if not to support the belief in the public, that they could also run the country. Because if the public does not believe that you are competent enough to manage the affairs of the state or to run the country, they will not vote for you. And leadership truly is an extraordinarily important factor in having democratic change in such systems, what we call electoral authoritarian.Andrew Keen: So what's happened in Turkey in terms of the opposition? The mayor of Istanbul has emerged as a leader. There's an attempt to put him in jail. You talk about the need for an opposition. Is he an ideological figure or just simply younger, more charismatic? More attractive on the media. What do you need and what is missing in the US and what do you have in Turkey? Why are you a couple of chapters ahead on this?Soli Ozel: Well, it was a couple of chapters ahead because we have had the same government or the same ruler for 22 years now.Andrew Keen: And Imamo, I wanted you to pronounce it, Sali, because my Turkish is dreadful. It's worse than most of the other.Soli Ozel: He is the mayor of Istanbul who is now in jail and whose diploma was annulled by the university which actually gave him the diploma and the reason why that is important is if you want to run for president in Turkey, you've got to have a college degree. So that's how it all started. And then he was charged with corruption and terrorism. And he's put in zero. Oh, it's terrorism. There was.Andrew Keen: It's terrorism, they always throw the terrorist bit in, don't they, Simon?Soli Ozel: Yeah, but that dossier is, for the moment, pending. It has not been closed, but it is pending. Anyway, he is young, but his major power is that he can touch all segments of society, conservative, nationalist, leftist. And that's what makes people compare him also with Erdogan who also had a touch of appealing to different segments of the population. But of course, he's secular. He's not ideological, he's a practical man. And Istanbul's population is about anywhere between 16 and 18 million people. It's larger than many countries in Europe. And to manage a city like Istanbul requires really good managerial skills. And Imamoglu managed this in spite of the fact that central government cut its resources, made sure that there was obstruction in every step that he wanted to take, and did not help him a bit. And that still was continuing. Still, he won once. Then there was a repeat election. He won again. And this time around, he one with a landslide, 54% against 44% of his opponent, which had all theAndrew Keen: So the way you're presenting him, is he running as a technocrat or is he running as a celebrity?Soli Ozel: No, he's running as a politician. He's running a politician, he is a popular politician. Maybe you can see tinges of populism in him as well, but... He is what, again, what I think his incarceration having prompted such a wide ranging segments of population really kind of rebelling against this incarceration has to do with the fact that he has resonance in Anatolia. Because he does not scare conservative people. He aspires the youth because he speaks to them directly and he actually made promises to them in Istanbul that he kept, he made their lives easier. And he's been very creative in helping the poorer segments of Istanbul with a variety of programs. And he has done this without really being terribly pushing. So, I mean, I think I sense that the country sees him as its next ruler. And so to attack him was basically tampering with the verdict of the ballot box. That's, I, think how the Turkish public interpreted it. And for good historical reasons, the ballot box is really pretty sacred in Turkey. We usually have upwards of 80% of participation in the election.Andrew Keen: And they're relatively, I mean, not just free, but the results are relatively honest. Yeah, there was an interesting New York Times editorial a couple of days ago. I sent it over. I'm sure you'd read it anyway. Turkey's people are resisting autocracy. They deserve more than silence. I mean from Trump, who has very peculiar relations, he has peculiar relations with everyone, but particularly it seems with Turkey does, in your view, does Turkey needs or the resistance or the mayor of Istanbul this issue, need more support from the US? Would it make any difference?Soli Ozel: Well, first of all, the current American administration didn't seem to particularly care that the arrest and incarceration of the mayor of Istanbul was a bit, to say the least, was awkward and certainly not very legal. I mean, Mario Rubio said, Marco Rubio said that he had concerns. But Mr. Witkoff, in the middle of demonstrations that were shaking the country, Mr. Witkof said it to Tucker Carlson's show that there were very wonderful news coming out of Turkey. And of course, President Trump praised Erdogan several times. They've been on the phone, I think, five times. And he praised Erdogan in front of Bibi Netanyahu, which obviously Bibi Netanyah did not particularly appreciate either. So obviously the American administration likes Mr. Erdogans and will support him. And whatever the Turkish public may or may not want, I don't think is of great interest toAndrew Keen: What about the international dimension, sorry, Putin, the Ukrainian war? How does that play out in terms of the narrative unfolding in Turkey?Soli Ozel: Well, first of all, of course, when the Assad regime fell,Andrew Keen: Right, and as that of course. And Syria of course as well posts that.Soli Ozel: Yeah, I mean, look, Turkey is in the middle of two. War zones, no? Syria was one and the Ukraine is the other. And so when the regime fell and it was brought down by groups that were protected by Turkey in Idlib province of Syria. Everybody argued, and I think not wrongly, that Turkey would have a lot of say over the future of Syria. And I think it will. First of all, Turkey has about 600 miles or 911 kilometer border with Syria and the historical relations.Andrew Keen: And lots of Syrian refugees, of course.Soli Ozel: At the peak, there were about 4 million, I think it's now going down. President Erdogan said that about 200,000 already went back since the overthrow of the regime. And then of course, to the north, there is Ukraine, Russia. And of course this elevates Turkey's strategic importance or geopolitical importance. Another issue that raises Turkish geopolitical importance is, of course, the gradual withdrawal of the United States from providing security to Europe under the umbrella of NATO, North Atlantic Alliance. And as the Europeans are being forced to fetch for themselves for their security, non-EU members of NATO such as Britain, Norway, Turkey, their importance becomes more accentuated as well. And so Turkey and the European Union were in the process of at least somewhat normalizing their relations and their dialog. So what happened domestically, therefore, did not get much of a reaction from the EU, which is supposed to be this paragon of rights and liberties and all that. But But it also left Turkey in a game in an awkward situation, I would think, because things could have gone much, much better. The rapprochement with the European Union could have moved a lot more rapidly, I will think. But geopolitical advantages are there. Obviously, the Americans care a lot for it. And whatever it is that they're negotiating with the Turkish government, we will soon find out. It is a... It is a country that would help stabilize Syria. And that's what President Trump also said, that he would adjudicate between Israel and Turkey over Syria, because these two countries which have been politically at odds, but strategically usually in very good terms. Whether or not the, so to avoid a clash between the two in Syria was important for him. So Turkey's international situation will continue to be important, but I think without the developments domestically, Turkey's position and profile would have been much more solid.Andrew Keen: Comparing US and Turkey, the US military has never participated, at least overtly, in politics, whereas the Turkish military, of course, has historically. Where's the Turkish Military on this? What are they thinking about these imprisonments and the increasing unpopularity of the current regime?Soli Ozel: I think the demilitarization of the Turkish political system was accomplished by the end of the 2000s, so I don't think anybody knows what the military thinks and I'm not sure that anybody really wonders what the army thinks. I think Erdogan has certainly on the top echelons of the military, it has full control. Whether or not the cadets in the Turkish military are lower echelons. Do have political views at odds with that of the government that is not visible. And I don't think the Turkish military should be designing or defining our political system. We have an electorate. We do have a fairly, how shall I say, a public that is fairly attuned to its own rights. And believes certainly in the sanctity of the ballot box, it's been resisting for quite some time and it is defying the authorities and we should let that take its course. I don't think we need the military to do it.Andrew Keen: Finally, Soli, you've been very generous with your time from Vienna. It's late afternoon there. Let's end where we began with this supposed tarnishing of the U.S. Brand. As we noted earlier, you and I have invested our lives, if for better or worse, in the U S brand. We've always been critical, but we've also been believers in this. It's also important in this brand.Soli Ozel: It is an important grant.Andrew Keen: So how do we, and I don't like this term, maybe there is a better term, brands suggest marketing, something not real, but there is something real about the US. How do we re-establish, or I don't know what the word is, a polish rather than tarnish the US brand? What needs to happen in the U.S.Soli Ozel: Well, I think we will first have to see the reinvigoration of institutions in the United States that have been assaulted. That's why I think the Harvard case... Yeah, and I love you.Andrew Keen: Yeah, and I love your idea of comparing it to the Scopes trial of 1926. We probably should do a whole show on that, it's fascinating idea.Soli Ozel: Okay, and then the Democratic Party will have to get its act together. I don't know how long it will take for them to get their act together, they have not been very...Andrew Keen: Clever. But some Democrats will say, well, there's more than one party. The Sanders AOC wing has done its job. People like Gavin Newsom are trying to do their job. I mean, you can't have an official party. There's gonna be a debate. There already is a debate within the party between the left and the right.Soli Ozel: The thing is, debates can be endless, and I don't think there is time for that. First of all, I think the decentralized nature of American governance is also an advantage. And I think that the assault has been so forceful that everybody has woken up to it. It could have been the frog method, you know, that is... Yeah, the boiling in the hot water. So, already people have begun to jump and that is good, that's a sign of vitality. And therefore, I think in due time, things will be evolving in a different direction. But, for populist or authoritarian inclined populist regimes, control of the institutions is very important, so you've got to be alert. And what I discovered, studying these things and looking at the practice. Executive power is a lot of power. So separation of powers is fine and good, but the thing is executive power is really very... Prominent and the legislature, especially in this particular case with the Republican party that has become the instrument of President Trump, and the judiciary which resists but its power is limited. I mean, what do you do when a court decision is not abided by the administration? You cannot send the police to the White House.Andrew Keen: Well, you might have to, that's why I asked the military question.Soli Ozel: Well, it's not up to the military to do this, somehow it will have to be resolved within the civilian democratic system, no matter where. Yes, the decks are stacked against the opposition in most of these cases, but then you'll have to fight. And I think a lot hinges on how corporations are going to react from now on. They have bet on Trump, and I suppose that many of them are regretting because of the tariffs. I just was at a conference, and there was a German business person who said that he has a factory in Germany and a factory in Ohio. And he told me that within three months there would not be any of the goods that he produces on the shelves because of tariffs. Once this begins to hit, then you may see a different dynamic in the country as well, unless the administration takes a U-turn. But if it does take a U turn, it will also have weakened itself, both domestically and internationally.Andrew Keen: Yeah, certainly, to put it mildly. Well, as we noted, Soli, what's real is economics. The rest is perhaps froth or lies or propaganda. Soli Ozel: It's a necessary condition. Without that deteriorating, you really cannot get things on values done.Andrew Keen: In other words, Marx was right, but perhaps in a slightly different context. We're not going to get into Marx today, Soli, we're going to get you back on the show. Cause I love that comparison with the current, the Harvard Trump legal thing, comparing it to Scopes. I think I hadn't thought of that. It's a very interesting idea. Keep well, keep safe, keep telling the truth from Central Europe and Turkey. As always, Solia, it's an honor to have you on the show. Thank you so much.Soli Ozel: Thank you, Andrew, for having me.Keen On America is a reader-supported publication. 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Keen On Democracy
Episode 2516: Jason Pack on the Trumpian Post-Apocalypse

Keen On Democracy

Play Episode Listen Later Apr 28, 2025 43:15


Americans, it's time to move to Europe! The American geo-strategist Jason Pack anticipated last week's advice from Simon Kuper and moved to London a few years ago during the first Trump Presidency. Pack, the host of the excellent Disorder podcast, confesses to be thrilled to have escaped MAGA America. He describes the esthetics of contemporary Washington DC as "post-apocalyptic" and criticizes what he sees as the Trump administration's hostile atmosphere, ideological purity tests, and institutional destruction. Contrasting this with Europe's ideological fluidity, Pack warns that Trump's isolationist policies are increasing global disorder by fundamentally undermining America's global leadership role with its erstwhile European allies. Five Key Takeaways* Pack left America because he found the "esthetics" of working in policy and media spaces increasingly distasteful, particularly during Trump's first administration.* He argues that European political systems allow for greater ideological fluidity, while American politics demands strict partisan loyalty.* Pack describes Washington DC as "post-apocalyptic" with institutions functioning like zombies - going through motions without accomplishing anything meaningful.* Unlike European populists who want to control institutions, Pack believes Trump's administration aims to destroy government institutions entirely.* Pack warns that America's deteriorating relationships with traditional allies is creating a "rudderless world" with increased global disorder and potential for conflict. Full TranscriptAndrew Keen: Hello, everybody. Over the last few days, we've been focusing on the impressions of America, of Trump's America around the world. We had the Financial Times' controversial columnist, Simon Cooper, on the show, arguing that it's the end of the American dream. He had a piece in the FT this week, arguing that it's time to move to Europe for Americans. Not everyone agrees. We had the London-based FT writer Jemima Kelly on the show recently, also suggesting that she hasn't quite given up on America. She is, of course, a Brit living in the UK and looking at America from London. My guest today, another old friend, is Jason Pack. He is the host of the Excellent Disorder podcast. Jason's been on the shows lots of times before. He's an observer of the world's early 21st century disorder. And he is an American living in London. So I'm thrilled that Jason is back on the show. Jason, did you have a chance to look at Simon Cooper's piece? Is it time for Americans to move to Europe?Jason Pack: You've already moved. Well, he's just popularizing what I've believed for eight or 10 years already. So yeah, I looked at the piece. I really enjoyed your podcast with him. I don't think many Americans will move because most Americans are not particularly global in their outlook. And as disenchanted as they will be, their networks of family and of perspective are in America. Some elites in media and finance will move. But for me, I just found the aesthetics of America becoming distasteful when I worked in D.C. during the first Trump administration. And that's why I pursued a European citizenship.Andrew Keen: Jason, it's interesting that you choose the word aesthetics. Two thoughts on that. Firstly, America has never been distinguished for its aesthetics. People never came to America for aesthetics. It's never been a particularly beautiful country, a very dynamic place, a very powerful place. So why do you choose that word aesthetic?Jason Pack: Because for most upper middle class Americans, life under Trump, particularly if they're white and heterosexual, will not change tremendously. But the aesthetics of working in the policy space or in the media will change. Having to deal with all the BS that we hear when we wake up and turn on the TV in the morning, having to interact with Republican nutcase friends who say, oh, the fat is being trimmed by the doge and don't worry about all those people who've been being laid off. The aesthetics of it are ugly and mean. And I have found among some Republican colleagues and friends of mine that they love the vileness of this dog-eat-dog aesthetic.Andrew Keen: Yeah, it's an interesting way of putting it. And I understand exactly what you're saying. I'm less concerned with the aesthetics as with the reality. And my sense in some ways of what's happening is that the Trump people are obsessed with what you call aesthetics. They want to appear mean. I'm not actually sure that they're quite as mean as they'd like to think they are.Jason Pack: Oh, they're pretty mean. I mean, people are running around the NIH offices, according to colleagues of mine. And if you're out to the bathroom and your card is inserted in your computer, they go in, they steal the data from your computer.Andrew Keen: Actually, I take your point. What I meant more by that is that whereas most traditional authoritarian regimes hide their crimes against migrants. They deny wrongdoing. My sense of the Trump regime, or certainly a lot of the people involved in this Trump administration, is that they actually exaggerate it because it gives them pleasure and it somehow benefits their brand. I'm not convinced that they're quite as bad as they'd like to think.Jason Pack: Oh, I agree with that. They make Schadenfreude a principle. They want to showcase that they enjoy other people's pain. It's a bizarre psychological thing. Trump, for example, wanted to show his virility and his meanness, probably because he's an inner coward and he's not that feral. But we digress in terms of the aesthetics of the individual American wanting to leave. I experienced American government, like the State Department, and then, the bureaucracy of the policy space, say think tanks, or even the government relations trade space, say working for oil companies and government relations, as already authoritarian and ass-kissing in America, and the aesthetics of those industries I have always preferred in Europe, and that's only diverging.Andrew Keen: One of the things that always struck me about Washington, D.C. It was always uncomfortable as an imperial city. It always has been since the end of the Second World War, with America dominating the world as being one of two or perhaps the only super power in the world. But Washington, DC seems to always have been uncomfortable wearing its imperial mantle cloak in comparison, I think, to cities like London or Paris. I wonder whether, I'm not sure how much time you've spent back in America since Trump came back to power. I wonder if in that sense DC is trying to catch up with London and Paris.Jason Pack: I actually was giving a briefing in Congress to staffers of the House Foreign Affairs Committee only three weeks ago, and DC seemed post-apocalyptic to me. Many of my favorite restaurants were closing. There was traffic jams at bizarre hours of the day, which I think this is because the Trump people don't know how public transport works and they just ride their cars everywhere. So, yes, it seemed very bizarre being back. You were trying to gauge the interlocutor you were speaking to, were they merely pretending to be on board with Trump's stuff, but they actually secretly think it's ridiculous, or were they true believers? And you had to assess that before you would make your comments. So there is a slide to a kind of, again, neo-authoritarian aesthetic. In my conference, it became clear that the Republican Congressional staffers thought that it was all junk and that Trump doesn't care about Libya and he doesn't understand these issues. But we needed to make lip service in how we expressed our recommendations. So, fascinatingly, various speakers said, oh, there's a transactional win. There's a way that cheaper oil can be gotten here or we could make this policy recommendation appeal to the transactional impulses of the administration. Even though everyone knew that we were speaking in a Democrat echo-chamber where the only Republicans present were anti-Trump Republicans anyway.Andrew Keen: Describe DC as post-apocalyptic. What exactly then, Jason, is the apocalypse?Jason Pack: I don't think that the Trump people who are running the show understand how government works and whether you're at state or the NIH or USAID, you're kind of under siege and you're just doing what you're supposed to do and going through the motions. I mean, there's so much of like the zombie apocalypse going on. So maybe it's more zombie apocalypse than regular apocalypse, whereby the institutions are pretending to do their work, but they know that it doesn't accomplish anything. And the Trumpian appointees are kind of pretending to kind of cancel people on DAI, but the institutions are still continuing.Andrew Keen: I'm going to vulgarize something you said earlier. You talked about Trump wanting to appear bigger than he actually is. Maybe we might call that small penis syndrome. Is that, and then that's my term, Jason, let's be clear, not yours. Maybe it's fair or not. He probably would deny it, but I don't think he'll come on this show. He's more than welcome. Is that also reflected in the people working for him? Is there a bit of a small penis syndrome going on with a lot of the Trump people? Are they small town boys coming to America, coming to D.C. And in all their raison d'état trying to smash up the world that they always envied?Jason Pack: 100%. If you look at the Tucker Carlson and the Hegset, who went to Princeton in 03, and obviously Tucker Carlsen's WASP elite background is well known, they wanted to make it conventionally and couldn't. Hegson didn't achieve the rank of lieutenant general or colonel or anything in the army. He didn't make it in finance and Vance, obviously had just a minor career in finance, they didn't make the big time except through their hate and resentment of the establishment that succeeded on merit. So, I mean, you could call that small penis syndrome. I think another thing to point out is that many of them have been selected because whether they've been accused of rape or financial crimes or just meanness, they owe the great leader their ability to be in that position. And if he would throw them overboard they're entirely exposed, so that cash patels of the world and the Hexeds of the world serve at the mercy of the great leader, because if they were thrown to the wolves, they could be devoured for their misdeeds. And I think that that makes it a place where it's all about loyalty to the boss. But maybe we could pivot to the initial topic about how I think Europe is a place where you can reinvent yourself as an individual now. Certainly in the political and ideology space, and America really hasn't been for much of my left.Andrew Keen: Yeah, it's interesting. And this is how actually our conversation you're doing. You're a much better podcast host than I am, Jason. You're reminding us of the real conversation rather than getting led down one Trumpian byway or another. I did a show recently on why I still believe in the American dream. And I was interviewed by my friend, David Maschiottra, another old friend of the show. And I suggested I originally came to America to reinvent myself and that's always been the platform with which Europeans have come to America. You're suggesting that perhaps the reverse is true now.Jason Pack: I really enjoyed that episode. I thought you were a great guest and he was a natural host. But I realized how it wasn't speaking to me. Many of my European friends who work in law, finance, tech, startup, you know, they finished their degrees in Italy or in England and they moved to America. And that's where they raised venture capital and they go on the exact success trajectory that you explained and they fetishize, oh my God, when my green card is gonna come through, I'm gonna have this big party. That never resonated with me because America was never a land of opportunity for me. And it hit me in hearing your podcast that that's because what I've aspired to is to work in government slash think tank or to be a professional expert. And if you don't ally yourself with one of the major political movements, you're always branded and you can never move ahead. I'll give a few examples if you're interested in the way that my trying to be in the center has meant that I could never find a place in America.Andrew Keen: Absolutely. So you're suggesting that your quote-unquote American dream could only be realized in Europe.Jason Pack: So I moved to the Middle East to serve my country after 9/11. If Gore had been elected president, I likely would have joined the army or the Marines or something. But Bush was president and I knew I needed to do this on my own. So, you know, I lived in Beirut, then I went to Iraq. Where did you graduate from, Jason? I graduated from Williams in 2002, but I was changing my studies as soon as the 9-11 happened. I stopped my senior thesis in biology and I pivoted to doing the Middle East. I thought the Middle East was going to be the next big thing. But I didn't realize that if you wanted to do it your own way, for example, living in Syria prior to working in government, then you couldn't get those security clearances. But in the UK, that's not really a problem. If you go to Leeds or Oxford and you got sent to study Arabic in Syria, you can work for the UK government, but not in America. If your went and did that your own way, your loyalties would be questioned. You wouldn't get your security clearance. I got an internship to work at the U.S. Embassy in Muscat, where I fell afoul of my supervisors because I was someone who wanted to speak in Arabic with Omanis and, for example, go to hear prayers at the mosque and really be a part of the society. And I was told, don't do that. But aren't we here to understand about Oman? And they're like, no, it's really important to mostly socialize with people at the embassy. But my British colleagues, they were out there in Omani society, and they were, for example, really participating in stuff because the relationship between the Omanis and the Brits and the Americans is a happy one. That's just a small example, but I wanna make the kind of further point, which is that if you wanna get promoted in think tank world in America, it doesn't matter whether it's Cato or Heritage on the right or New America Foundation or Middle East Institute on the left. You have to buy in hook, line, and sinker to the party line of those institutions. And if that party line is DEI, as it was at the Middle East Institute when I was there, and you're a white heterosexual male, you're not going to get promoted. And if, for example, you want to then interact with some Zionist think tank like FDD, the Foundation for the Defense of Democracies, I was going to a fellowship there for work that I had done about monitoring ISIS in Libya, and they had proposed a funding line for my project, which was just technically reading jihadi Facebook posts and monitoring them. And then they did some more research on me, ironically, after we had already signed the funds. And they said, oh, we're so sorry, we are going to have to pull back on this. We are going have to pay you a kill fee. We are really, really sorry. And I came to understand why that was. And it was because I had advocated that the Iranians should be allowed to get the bomb so that they could have mutually assured destruction theory with Israel.Andrew Keen: Well, Jason, I take your point, but everyone has their own narrative when it comes to why their career didn't did or didn't take off and how they know what that doesn't happen in Europe. I'm just making a contrast. Let me just come back to my argument about America, which is it isn't necessarily as straightforward as perhaps at first it seems. I think one of the reasons why America has always been a great place for reinvention is because of the absence of memory.Jason Pack: No, but what I'm saying is Google will inspire on you, and if you're not within the ideological cadre, you cannot progress at these kind of institutions.Andrew Keen: Okay, I take your point on that, but thinking more broadly, America is a place where you can, I've done so many different things in this country from being a scholar to being an internet entrepreneur to being an expert on technology to being a critic of technology to being against podcasts, to being a podcaster. And you can get away, and I've failed in practically all of them, if not all of them, but the fact is that because people don't have memory, you can keep on doing different things and people won't say, well, how can you get away with this? Last week you were doing X. My sense, and maybe correct me if I'm wrong about London or Europe, is there is much more memory. You can't get away with perpetual reinvention in Europe as you can in the U.S. and maybe that's because of the fact that in your language, living in Europe with its memory and respect for memory is more aesthetically pleasing. So I'm not suggesting this is as simple as it might appear.Jason Pack: I agree with that last point, but I think I'm trying to bring something else out. In spheres like tech or podcasting, there isn't credentialism in America. And therefore, if you're just good at it, you don't need the credentials and you can get going. And you and other Europeans who had great merit, as you do, have benefited from that. And in Europe, you might run up against credentialism, but, oh, but you didn't work at the BBC, so you don't get the job. I'm making a different point about ideological purity within the very specific realms of, say, working for an American presidential candidate or briefing a policymaker or rising up at a think tank. I have briefed labor MPs, Lib Dem MPs and Tory MPs. And they don't ask my politics. I can go in there and get a meeting with Keir Starmer's people on Libya, and they don't care about the fact that I want him to do something slightly different. Criticized him and praised him at different times on my podcast, try having an influence with some Trump people and then say, Oh, well, you know, I really think that I can help you on this Libya policy, but I happened to run a fairly anti-Trump podcast. No, you just can't get the briefing because America is about ideological purity tests and getting your ticket punch in the government and think tank and exporting professions, and therefore it's not some place you can reinvent yourself. If you're clearly an anti-Trump Republican McCainite, you can't all of a sudden become an AOC Democrat for the purpose of one meeting. But in Europe you can, because you can be a Lib Dem like Liz Truss and then be a Tory Prime Minister. And no one cares what my position on these topics are when they ask me to brief Keir Starmer's people and that's something that I find so fantastic about Europe.Andrew Keen: Yeah, it's interesting. I mean, you know this stuff better than I do. But isn't someone like Truss rooted in ideological purity? She was a Lib Dem when she was at Oxford. Yeah, but that was a long time ago. I can reverse that, Jason, and say, well, when Trump was young, he ran around with Bill and Hillary Clinton, he went to their wedding, he funded them. He never was even a Republican until 2014 or 15. So, I mean, he's an example of the very ideological fluidity that you idealize in Europe.Jason Pack: I agree with your point. I think that he's an exception there and he wouldn't have allowed it from his staffers. They now have essentially loyalty tested everything. It's not a place where if you were Democrat with ideas that would benefit the Trumpian establishment, you can be heard. I'll give an example. I like the Abraham Accords and I have a colleague who wants to help extend the Abraham Accords to Pakistan, she can only work with ideologically pure Republicans in the pitching of this idea. She can't work with someone like me because I don't have the ideological purity, even though this is a nonpartisan idea and it should be embraced if you can get the Trumpians to be interested in it. But that's not how America works and it has not been. Reagan, of course, if you said that you like taxes, and I'm someone who likes taxes and I don't believe in the Laffer curve, and neoliberalism is a sham, you couldn't be on that economic team. So there are different ideological tests. Trump was never a politician, so he's not an expert like me in the expert class where we've been litmus tested our whole careers.Andrew Keen: Interesting. Jason, yesterday I was talking to someone who was thinking of hiring me to do a speech in Europe to a business group, and we were discussing the kinds of speeches I could give, and one of the things I suggested was a defense of America, suggesting that we can believe in America and that everyone's wrong. And these people have hired me before. I've often made provocative counterintuitive arguments, there was a little bit of a silence and they said, you can't make that speech in Europe. No one will take it seriously to a business community. What's generally, I mean, you travel a lot, you talk to lots of different people. Have people really given up on the promise of America, particularly within the establishment, the business establishment, the political establishment?Jason Pack: I don't know. I think that many Europeans still think that this is a passing phase. I will comment on the fact that I do not see anti-Americanism in my daily life as a result of Trump, the way that, for example, you do see anti-Semitism as a results of Netanyahu's policy. The individual Jew is tarred by horrible things happening in Gaza, but the individual American is not tarred by the deporting and illegal detentions and sacking of people by Doge because people in Poland or London or even the Middle East understand that you're likely to not be a Trump supporter and they're not targeting you as an individual as a result of that. So I think they believe in the promise of America and they still might like to move to America. But on individual level if you want to be a political animal inside the beast of campaigns, rising up to be a David Axelrod kind of figure. America has been a place of these litmus tests. Whereas in Europe, you know, I feel that there's tremendous fluidity because in Italy they have so and so many political parties and in Germany, what's the distinction between the SPD at one moment in the CDU and the Greens and there's a tradition of coalitions that allows the individual to reinvent himself.Andrew Keen: One of the things that came up with Cooper, and he's certainly no defender of Marine Le Pen or Meloni in Italy, but he suggested that the Trump people are far to the right of Le Pen and Meloni. Would you agree with that?Jason Pack: Because they want to break down institutions, whereas Le Pen and Meloni simply want to conquer the institutions and use them. They're not full-blown, disordering neopopulists, to use the language of my disorder podcast. When Meloni is in power, she loves the Italian state and she wants it to function merely with her ideological slant. Whereas the Trumpians, they have a Bannonite wing, they don't simply wanna have a MAGA agenda, use the U.S. Government. No, they want to break the Department of Agriculture. They want to break the EPA. They simply want to destroy our institutions. And there's no European political party that wants that. Maybe on the fringe like reform, but reform probably doesn't even want that.Andrew Keen: But Jason, we've heard so much about how the Bannonites idealized Orban in Hungary. A lot of people believe that Project 2025 was cooked up in Budapest trying to model America on Orban. Is there any truth to that? I mean, are the Trump people really re-exporting Orbanism back into the United States?Jason Pack: That there is some truth, but it can be overplayed. It can go back further to Berlusconi. It's the idea that a particularly charismatic political leader can come to dominate the media landscape by either having a state media channel in the Berlusconi sense or cowing media coverage to make it more favorable, which is something that Orban has done geniusly, and then doling out contracts and using the state for patronage, say, Orban's father's construction business and all those concrete soccer stadiums. There is an attempt potentially in Trump land to, through an ideological project, cow the media and the checks and balances and have a one-party state with state media. I think it's going to be difficult for them to achieve, but Chuck Carlson and others and Bannon seem to want that.Andrew Keen: You were on Monocle recently talking about the Pope's death. J.D. Vance, of course, is someone who apparently had a last, one of the last conversations with the Pope. Pope wasn't particularly, Pope Francis wasn't particularly keen on him. Bannon and Vance are both outspoken Catholics. What's your take on the sort of this global religious movement on the part of right-wing Catholics, and how does it fit in, not only to the death of Francis, but perhaps the new Pope?Jason Pack: It's a very interesting question. I'm not a right-wing Catholic, so I'm really not in a position to...Andrew Keen: I thought you were Jason, that's why you could always come on the show.Jason Pack: I think that they don't have the theological bona fides to say that what they call Catholicism is Catholicism because obviously Jesus turned the other cheek, you know, and Jesus didn't want to punish his enemies and make poor black or Hispanic women suffer. But there is an interesting thing that has been going on since 1968, which is that there was a backlash against the student protests and free love and the condom and all the social changes that that brought about. And Catholics have been at the forefront, particularly Catholic institutions, in saying this has gone too far and we need to use religion to retake our society. And if we don't, no one will have children and we will lose out and the Muslims and Africans will rule the roost because they're having babies. And that right-wing Catholicism is caught up in the moral panic and culture wars since 1968. What I argued in the monocle interview that you referenced from earlier today is something quite different, which is that the Catholic Church has a unique kind of authority, and that that unique kind of authority can be used to stand up against Trump, Bannon, Orban, and other neopopulists in a way that, say, Mark Carney or Keir Starmer cannot, because if Mark Kearney and Keir Stormer say, you guys are not sufficiently correctly American and you're not following the American laws, blah, blah blah, the kind of Americans who support Trump are not convinced by that because they say, these are just, you know, pinko Brits and Canadians. I don't even care about Mark Kearny, but it's quite different if the next Pontiff is someone who comes not only from the school of Francis, but maybe more so is a great communicator vested in the real doctrines of the church, the Lateran Councils and Vatican too, and can say, actually this given thing that Trump has just said is not in line with the principles of Jesus. It's not inline with what the Vatican has said about, for example, migration or social equity. And I find that that is a unique opportunity because even the right-wing Catholics have to acknowledge the Pope and Christian doctrine and the ability of the Catholic hierarchy to say this is not in line with our teachings. So I think there's a very interesting opportunity right now.Andrew Keen: Perhaps that brings to mind Stalin's supposedly famous remarks to Churchill at Potsdam when they were talking about the Pope. Stalin said to Churchill, the Pope, how many divisions does he have? In other words, it's all about ideology, morality, and ultimately it doesn't really. It's the kind of thing that perhaps if some of the Trump people were as smart as Stalin, they might make the same remark.Jason Pack: That was a physical war, and the Pope didn't have divisions to sway the battles in World War II, but this is an ideological or an influence war. And the Pope, if you've just seen from media coverage over the last week, is someone who has tremendous media influence. And I do think that the new pontiff could, if he wanted to, stand up to the moral underpinnings of Trump and pull even the most right-wing Catholics away from a Trumpian analysis. Religion is supposed to be about, because Jesus didn't say punish your enemies. Don't turn the other cheek and own the libs. Jesus said something quite different than that. And it will be the opportunity of the new Catholic leader to point that out.Andrew Keen: I'm not sure if you've seen the movie Conclave, which was very prescient, made by my dear London friend, or at least produced by Tessa Ross at House Productions. But I wonder in these new conversations whether in the debates about who should the new Pope be, they'll mull over TikTok presence.Jason Pack: I hope they will. And I want to point out something that many people probably are not aware, which is that the College of Cardinals that constitutes the conclave does not have to pick one of their member to be pope. For the last six centuries, they have always chosen one of their own number, but they don't have to. So they could choose someone who has not only an ability to make great TikToks, but someone who can put forth a vision about climate change, about tax equity, for example, maybe about AI and what constitutes humanity from within the Catholic tradition, but reaching new faithful. And I think that they might actually consider we're doing this because in places like Western Europe, attendance is down, but in Eastern Europe and Latin America, it isn't. And in Africa, it's surging. So they may want to reach new millennials in Gen Z with a new message, but one which is rooted in their tradition. And I think that that would be a great counterbalance to what Trump and his ilk have done to how media coverage place things like climate change and migrants these days.Andrew Keen: Speaking of Trump and his ilk, Jason, lots of conversations here about the first cracks in his monolith. Speaking to me from London, I always look at the front page of The Telegraph, a conservative English newspaper. I refuse to give the money, so I never actually read any of the pieces. But I'm always curious as to the traditional conservative media attitude to Trump. What do not so much the Conservative Party, which seems to be in crisis in the UK, but what does Conservative media, Conservative thinkers, what's their take currently on Trump? Are you seeing a crack? Are people seeing this guy's absolutely insane and that the tariff policy is going to make all of us, everybody in the world poorer?Jason Pack: Well, Trump has always been a vote loser in the UK. So that even though Farage brags about his relationship, it isn't something that gets him more votes for reform. And whether it's Sunak or Badnak, and Badnak is the current leader of the Tory party, which is an opposition, she can't so closely associate herself with Trump because he's not popular in even right-wing British circles. However, the Tory media, like the telegraph and the spectator, they love the idea that he's owning the Libs. We talked about Schadenfreude, we talked about attacking the woke. The spectator has taken a very anti-woke turn over the last five to 10 years. And they love the ideal of pointing out the hypocrisies of the left and the effeminacy of it and all of that. And that gets them more clicks. So from a media perspective, there is a way in which the Murdoch media is always going to love the click bait, New York post bait of the Trump presidency. And that applies very much, you know, with the sun and the Daily Mail and the way that they cover media in this country.Andrew Keen: Although I was found in the U.S. That perhaps the newspaper that has been most persistently and usefully critical of Trump is the Wall Street Journal, which is owned by Murdoch.Jason Pack: Yeah, but that's a very highbrow paper, and I think that it's been very critical of the tariff policy and it said a lot of intelligent things about Trump's early missteps. It doesn't reach the same people as the New York Post or the Daily Mail do.Andrew Keen: Finally, Jason, let's go back to Disorder, your excellent podcast. You started it a couple of years ago before this new Trump madness. You were always one of the early people on this global disorder. How much more disordered can the world become? Of course, it could become more disorded in terms of war. In late April 2025, is the world more disordered than it was in April 2024, when Biden was still in power? I mean, we still have these wars in Gaza, in Ukraine, doesn't seem as if that much has changed, or am I wrong?Jason Pack: I take your point, but I'm using disorder in a particularly technical sense in a way by which I mean the inability of major powers to coordinate together for optimal solutions. So in the Biden days of last year, yes, the Ukraine and Gaza wars may be waging, but if Jake Sullivan or Blinken were smarter or more courageous, they could host a summit and work together with their French and British and Argentinian allies. Put forth some solutions. The world is more disordered today because it doesn't have a leader. It doesn't have institutions, the UN or NATO or the G7 where those solutions on things like the Ukraine war attacks could happen. And you may say, but wait, Jason, isn't Trump actually doing more leadership? He's trying to bring the Ukrainians and the Russians to the table. And I would say he isn't. They're not proposing actual solutions. They don't care about solving underlying issues. They're merely trying to get media wins. He wants the Japanese to come to Washington to have the semblance of a new trade deal, not a real trade deal. He's trying to reorder global finance in semblance, not in reality. So the ability to come to actual solutions through real coordinating mechanisms where I compromise with you is much weaker than it was last year. And on the Disorder Podcast, we explore all these domains from tax havens to cryptocurrency to cyber attacks. And I think that listeners of Keen On would really enjoy how we delve into those topics and try to see how they reflect where we're at in the global system.Andrew Keen: Yeah, it's a strongly, I would strongly agree with you. I would encourage all keen on listeners to listen to Disorder and vice versa if this gets onto the Disorder podcast. What about the China issue? How structural is the tariff crisis, if that's the right word, gonna change US relations with China? Is this the new Cold War, Jason?Jason Pack: I'm not an economist, but from what I've been told by the economists I've interviewed on my podcast, it's absolutely completely game changing because whether it's an Apple iPhone or most pieces of manufactured kit that you purchase or inputs into American manufacturing, it's assembled everywhere and the connections between China and America are essential to the global economy. Work and it's not like you can all of a sudden move those supply chains. So this trade war is really a 1930s style beggar thy neighbor approach to things and that led to and deepened the great depression, right? So I am very worried. I had the sense that Trump might back off because he does seem to be very sensitive to the markets. But maybe this is such an ideological project and, you know, Andrew Ross Sorkin on CNBC was just saying, even though he's willing to back off if the T bill rate changes, he thinks that his strategy is working and that he's going to get some deals. And that terrifies me because that's not what's happening. It isn't working. And God forbid that they'll push this to its logical conclusion and cause a new recession or depression.Andrew Keen: I know you've got to run Jason. So final question, let's return to where we began with America and the changing nature of America. Your last episode of Disorder was with Corey Sharpe, who is a very, very good and one of Washington DC's, I think, smartest foreign policy analysts. She asks, what's America without allies? If this continues, what, indeed, I mean, you're happy in London, so I don't sound like you're coming back, whatever. But what will America become if indeed all these traditional allies, the UK, France, Germany, become, if not enemies, certainly just transactional relationships? What becomes of America without allies?Jason Pack: Wow, great question. I'm gonna treat this in two parts, the American cultural component and then the structural geopolitical component. I'm a proud American. Culturally, I work on Sundays. I don't take any holiday. I get angry at contractors who are not direct. I am going to be American my whole life and I want an American style work ethic and I wanna things to function and the customer to always be right. So I didn't move to Europe to get European stuff in that way, and I think America will still be great at new inventions and at hard work and at all of that stuff and will still, the NFL will still be a much better run sports league than European sports leagues. Americans are great at certain things. The problem is what if America's role in the world as having the reserve currency, coordinating the NATO allies. If that's eviscerated, we're just going to be living more and more in the global enduring disorder, as Corey Schacke points out, which is that the Europeans don't know how to lead. They can't step up because they don't have one prima inter Paris. And since the decline of the British Empire, the British haven't learned how, for example, to coordinate the Europeans for the defense of Ukraine or for making new missile technologies or dealing with the defense industry. So we're just dealing with a rudderless world. And that's very worrying because there could be major conflict. And then I just have to hope that a new American administration, it could be a Republican one, but I think it just can't be a Trumpian one, will go back to its old role of leadership. I haven't lost hope in America. I've just lost hope in this current administration.Andrew Keen: Well, I haven't lost hope in Jason Pack. He is an ally of ours at Keen On. He's the host of the Excellent Disorder podcast. Jason, it's always fun to have you on the show. So much to discuss and no doubt there will be much more over the summer, so we'll have you back on in the next month or two. Thank you so much. Keep well. Stay American in London. Thank you again.Jason Pack: It was a great pleasure. Thanks, Andrew. See you then. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit keenon.substack.com/subscribe

united states america god tv jesus christ american new york tiktok donald trump europe english google israel ai uk china washington nfl france work england college americans british french speaking germany canadian religion project africa european joe biden ukraine government italy washington dc foundation japanese russian dc italian congress african bbc world war ii defense middle east jews bs republicans gen z wall street journal catholic muslims democrats iraq oxford poland pope pack pakistan syria gaza conservatives latin america ukrainian agriculture nato cold war dei disorders heritage cardinals hillary clinton cnbc catholic church iranians hispanic hungary leeds maga marines vatican financial times arabic catholics epa eastern europe catholicism beirut wasp budapest pope francis joseph stalin tucker carlson doge benjamin netanyahu state department new york post churchill brits g7 libya greens nih daily mail telegraph oman usaid embassies mps semitism spd marine le pen british empire argentinian western europe liz truss culturally cdu conclave dai antony blinken bannon murdoch conservative party zionists silvio berlusconi contrasting potsdam trump presidency apple iphone cato keir starmer meloni truss orban libs democracies mark carney schadenfreude sunak criticized abraham accords americanism farage trumpian muscat jake sullivan monocle david axelrod trump republicans tory mps post apocalypse middle east institute lib dem house foreign affairs committee pontiff new america foundation fdd simon kuper andrew ross sorkin omani laffer republican congressional simon cooper keen on chuck carlson
Alpha Exchange
Matt King, Founder, Satori Insights

Alpha Exchange

Play Episode Listen Later Apr 25, 2025 56:09


For Matt King, evaluating market risk is often about pinpointing vulnerabilities within the financial system. Over the many years he's been advising institutional investors, he's gone where the action is - in the dotcom era it was corporate balance sheets, in the pre-GFC period it was asset-backed CP and in the last decade it's been sovereigns and QE. Now the founder of Satori Insights, Matt shared his current assessment of risk on this episode of the Alpha Exchange.  His materially bearish take is a function of what he views as US trade policy underpinned by both a misunderstanding of balance of payments math and a failure to appreciate the risks of chaotic implementation. On the latter, Matt worries that the US is earning itself a risk premium in the back end of its bond market, a troubling development especially set against the ever-growing pile of debt outstanding. Matt shows the spike in US real rates at a time when the VIX was also surging and the dollar falling as similar to the UK's "Liz Truss moment" in 2022, an event that forced the Bank of England to act quickly. Matt argues that while Democracy ought to be mean-reverting - where bad policy leads to bad outcomes and declining popularity, ultimately motivating a change of course, today's setup in the US is one in which bad policies impact growth and further poison our politics, reinforcing bad policy. Stepping back, he sees value in gold, noting that both gold and FX vol are still too low. I hope you enjoy this episode of the Alpha Exchange, my conversation with Matt King.

Keen On Democracy
Episode 2511: Jemima Kelly on why she hasn't quite given up on America

Keen On Democracy

Play Episode Listen Later Apr 23, 2025 46:10


In contrast with yesterday's guest, the Paris based Financial Times writer Simon Kuper, the newspaper's London based columnist Jemima Kelly hasn't quite given up on the United States of America. Trump, she suggests, might be the end of the line for the MAGA movement. Indeed, like another recent guest on the show, former Wired editor Peter Leyden, Kelly suggests that the Republicans might be flirting with the destruction of their brand for the next political generation. Unlike Leyden, however, Kelly isn't particularly bullish on the future of the Democratic Party, arguing that there is a desperate need for a formal national opposition to Trump's MAGA Republicanism. And in contrast with Leyden, Kelly doesn't see much of an opposition - moral or otherwise - from seemingly spineless tech billionaires like Mark Zuckerberg or Marc Andreessen. 5 Key Takeaways* Kelly is most concerned about Trump's "utter disregard for the legal system and the kind of lawlessness" that characterizes his second administration.* She believes Democrats lack cohesive opposition structure, noting America could benefit from a shadow cabinet system like the UK's to provide clear alternative voices.* Kelly predicts "MAGA is going to finish with Trump" as there's no viable successor who can match his charisma and stage presence.* She criticizes tech leaders like Mark Zuckerberg for capitulating to Trump, questioning how they justify abandoning values for business interests.* Kelly argues that maintaining moral principles is crucial for Democrats, as sinking to Trump's level only erodes institutional trust, which has already been significantly damaged. Full Transcript Andrew Keen: Hello, everybody. It is Wednesday, April the 23rd, 2025. Headlines today remain dominated by Donald Trump. Every story above the fold, at least above the digital fold in the Financial Times, seems to be about him. Yesterday, we talked to FT columnist Simon Cooper, a Dutchman living in Paris, who had an interesting piece earlier this week suggesting Americans should move to Europe, indicating the American dream was over. Cooper seemed to relish this news. Today, we're talking to another FT columnist, Jemima Kelly. She's based in northeast London, in Hackney, and she's talking to us today from the FT offices in the heart of London City. Jemima, what's your take on Simon's column this week? Is it indeed time for most Americans to move to Europe?Jemima Kelly: I thought it was a very interesting column. I'm particularly interested in this idea that you discussed on your show about the brain drain that has been going in the direction of America and that might start to come back in the other direction, which I hadn't really properly considered before in those terms. But I must say that I'm not really a fan of encouraging people to all be digital nomads. He's actually followed it up with a piece today about how to be a digital nomad in Paris. I'm not really a fan of that kind of lifestyle because I think that it means people aren't particularly invested in their local communities, and I think it makes a bit of a crappy neighborhood if everyone is just working their own jobs. The dream of earning a US salary while working remotely living in Europe—I'm just like, please don't do that because then we're just importing inequality.Andrew Keen: Although to be fair, was Simon actually saying that?Jemima Kelly: I think he did say that the ultimate life, the ultimate arbitrage was doing that. And it's true, it is the ultimate arbitrage. It's just not one that I would particularly want people to pursue. It's like the Airbnb culture—it's destroyed a lot of cities and priced out local people, meaning certain cities you visit have no locals, just tourists, which is quite crap as a tourist.Andrew Keen: I guess the other critique of Simon's piece, which is an extension of yours, is for Americans who don't like Trump—and there are many, including myself—it's not time to move to Europe. It's not time to retreat. It is time to stay and fight and try to change America. So there's no reason why you have to shift. Jemima, you're a columnist at what you call on your X account "Friends of the Deep State" (FT). I'm using you as the voice of the European deep state. What's the take from London on Trump on April 23, 2025? It's so hard to make any sense of it. In a meta sense, in a structural sense, what's your take on what's happening?Jemima Kelly: I'm going to answer that in three parts. First, the "Friends of the Deep State" is obviously a reference to Liz Truss, who referred to the FT as the deep state.Andrew Keen: I want to come on to Truss later, another rather clownish character, your version of Donald Trump.Jemima Kelly: Yes, Britain's proudest export. Second, I would probably not want to speak for Europe or Britain. Maybe I can start by saying what I think the mood is.Andrew Keen: You live in Hackney in northeast London, so maybe you can speak on behalf of Hackney. What's the take on Trump from Hackney?Jemima Kelly: Just utter dismay. And I mean, I would say that's probably the mood I'm getting, even from people who thought there was too much hyperbole used about Trump in the run-up to his election. I didn't think comparisons to Hitler were particularly helpful.Andrew Keen: You're not alone. We've had that conversation many times on the show. I strongly agree with you.Jemima Kelly: So while there were people who were very hysterical about the idea of a Trump 2.0 being worse than the first time, I think so far, it does seem kind of worse, doesn't it?Andrew Keen: I'm asking you.Jemima Kelly: I would say there is a sense that things are quite scary at the moment. I think what I personally find most worrying, and that many balanced people are talking about, is the utter disregard for the courts and the rule of law. I was amazed looking at Truth Social earlier. I saw a post from Trump about an alleged MS-13 gang member.Andrew Keen: The Venezuelan who was illegally extradited or seized and taken to El Salvador.Jemima Kelly: I think this guy is actually Salvadoran. Trump has posted a picture of an alleged knuckle tattoo with four symbols which some people have extrapolated to mean MS-13. It's very obviously just computer-generated text superimposed on the image. Trump has posted it and appears to believe this is actually tattooed onto the man's knuckles, using that as justification. I think the utter disregard for the legal system and the lawlessness of Trump 2.0 is for me the most disturbing aspect because where does that end? It's just utter chaos.I might write this week about how Trump sees the world as just deal-making and transactions. The ends will always justify the means. He's openly saying he's going to keep pushing as hard as he can to get what he wants. But his followers, who are constantly rushing to justify everything he does, including his vice president, are glorifying the means themselves, which Trump himself doesn't even really believe in. People are willing to take what he says at face value and make it happen, like Vance going to Greenland on this supposed visit.Andrew Keen: You said in an excellent column earlier this month that Vance has "the zeal of the convert" and that's the problem.Jemima Kelly: Yes, because he once called Trump "America's Hitler."Andrew Keen: And he didn't mean it in a complimentary way.Jemima Kelly: I don't think he did.Andrew Keen: So, Jemima, stand back a little. Simon noted that he'd always believed in America growing up. A lot of his friends went to America. You're a slightly younger generation from Simon. When you graduated from university, did a lot of your friends go to America? Did you ever think maybe you should go to America as a singer or a journalist?Jemima Kelly: Did any of my friends? It's quite difficult as a British person going to America. Quite a few of my friends have ended up there, particularly in LA for some reason. I almost moved to New York with my previous employer, Reuters, and have considered it, but wanted to stay in London. I love America; it's a completely amazing and fascinating place. But it does feel like people I speak to at the moment are feeling concerned. Someone in New Orleans told me that when conservative columnists in the New York Times are writing that it's time for some kind of uprising...Andrew Keen: That was David Brooks. And Simon wrote about a friend of his in Georgia who said he couldn't even go out because he was scared to bump into Trump people.Jemima Kelly: I saw that. That's not how I personally believe that divisions should be handled. The idea that you shouldn't go out because you might bump into some Trump fans—I don't know about that.Andrew Keen: I couldn't agree more. Your last column, in the spirit of Easter, was titled "It's the hope that saves you." It was a broader column, not just about America. But do you still have a vestige, a glimmer of hope in America? Have you given up?Jemima Kelly: Oh, God, yes, I still have hope. I am an optimist. But I also believe that being optimistic and hopeful, which as I explain in the column are slightly different things, gives you a higher chance of things going well. If you don't resort to cynicism and nihilism, which I don't think is particularly helpful.Another column I would like to write in the coming weeks is that I am becoming convinced that MAGA is going to finish with Trump. There is no MAGA after Trump. One thing that convinced me of this was listening to the "Triggered" podcast with Donald Trump Jr. I tried to listen to a range of podcasts, some more painful than others, and I listened to a full episode the other day and couldn't believe the level of imbecility.Andrew Keen: Well, we know what you mean anyway, even if that isn't the word.Jemima Kelly: And he's the best friend of the vice president, who's supposedly this genius.Andrew Keen: I'm sure in a year or two JD will have moved on to other "best friends."Jemima Kelly: Maybe, but I think they've been friends for a while. The thing with Trump is that he masks so much with his charisma and stage presence and what he calls "flexibility," not U-turning. And his people skills. Then you get the distilled version of him without all of that, and it's just so painfully bad and unpersuasive. There's no successor. Vance is the only one who the bookies currently have as the favorite, but that's because there's no leader on the other side; we don't know who the Democratic leader is.Andrew Keen: Peter Leyden, who was on the show a few days ago, the former editor-in-chief of Wired, believes that Trump is essentially destroying the Republican brand for a generation. It does provide an opportunity for the Democrats in the long term, although the Democrats probably have many problems of their own. Do you agree that ultimately the Republican brand has been decimated and is headed for 20 or 30 years of political isolation?Jemima Kelly: I think what they have going for them is that MAGA has its own name—there was always the MAGA part of the Republican Party and then the "other part" and the RINOs. Now they have somewhat merged, but I imagine that will start to separate if the Trump project keeps doing as badly as it seems to be. But it doesn't feel like there's any separation now between Trump and the institutions that are supposedly independent, with the Fed being an exception despite his saying he'd terminate Powell and then claiming the press made a big deal of it. It does feel like it will be difficult for Republicans to extricate themselves from Trump. There isn't anyone standing up and being vocally anti-Trump on that side at the moment.Andrew Keen: You noted that your satirical X profile "Friends of the Deep State" was borrowed from Liz Truss, who made a fool of herself and now is in political exile. Can we learn anything from the Truss fiasco? It seems to me as if Trump a couple of weeks ago on the bond front was, so to speak, "Trussed"—the market spoke and he had to retreat. Can we learn anything from recent British political or economic history to make sense of what's happening in the US, particularly in terms of Truss, who was humiliated by the markets?Jemima Kelly: Trump has the advantage of shamelessness, doesn't he?Andrew Keen: So you're saying that Liz Truss is not shameless?Jemima Kelly: That's a very good point. You could see the embarrassment on her face. Maybe that is just my projection of how I would feel.Andrew Keen: For people just listening, it's a picture of Liz Truss in New York with a MAGA hat on looking like a complete idiot.Jemima Kelly: Just before the inauguration saying, "It can't come soon enough."Andrew Keen: And she says "the West needs it," whatever that means.Jemima Kelly: She's constantly "saving the West." She was at a Bitcoin conference last weekend giving a speech on saving the West. It's really exciting that we have such capable hands to save the West.Andrew Keen: Especially at the Bitcoin conference.Jemima Kelly: Exactly. They're the real people to do it. What can we learn from Truss? What we can learn, and this takes us into the Democrats, is that a few people have floated the idea that America should have some form of shadow cabinet. One of the reasons that Truss lasted for only 42 days—less than the lettuce—was that we have such a vocal opposition in this country. It's very clear who the spokesperson is from the opposing party. So when a journalist is writing a story about Truss's mini budget, right away, you've got the shadow chancellor to tell you why it's a terrible idea. In America, it's not so clear, and I think that's a disadvantage.Andrew Keen: You wrote an excellent column in the last month on why America needs a "serious opposition."Jemima Kelly: It really opened my eyes, this idea of the shadow cabinet. Obviously, the government has a different structure in the US, and it's not a monarchy, etc. But the idea of some form—even if just in name only—if the Democrats were able to put forward a representative for each of the major government departments, it would help. It made me think that American media often sees itself as "the resistance"—the media is the resistance. I feel like our job is to report the news. Too often it feels like the media was trying to stop Trump from getting reelected or trying to hide that Biden was too old for another four years. The media is far too often doing the work that an opposition should be doing.It dawned on me that this is partly because of the lack of structure that we have with the constant back and forth. As a journalist, rather than having to explain why the Liz Truss mini-budget was bad, you've got someone on the other side to tell you. The Democrats are in disarray. Usually, there's nothing like a common enemy to unite you, and Trump should be that. Amid the tariffs, the trade war, the deportation of immigrants, threats to deport others to horrific Salvadoran prisons—if there were a time to be united, it would be now. This is peak Trump fear, and yet the Democrats have record low approval ratings among their supporters. A Gallup poll showed Republican approval of their congressmen is at 76 percent while Democrats are at 39 percent among Democrats. There is a real void of cohesive or coherent opposition.Andrew Keen: You've been quite critical of the Democrats. Back in July, you talked about the "Biden debacle" and the absurdity of a man clearly out of his depth. But you've also written more recently about Democrats not abandoning their morals. When historians look back, how much of a debacle was the Biden regime? Will it be seen as the trigger that enabled Trump 2.0, or would these things be seen separately?Jemima Kelly: I don't think it was Biden's administration; I think it was the cover-up of his physical decline.Andrew Keen: I wasn't surprised by that debate he had with Trump. He clearly was way beyond his shelf life. It was self-evident if you watched interviews with him.Jemima Kelly: It was already evident. I got into trouble for talking about this before the 2020 election because he had gotten the name of an interviewer wrong, and fact-checking organizations rushed in to say he hadn't. They were lying on his behalf, which shocked me.Andrew Keen: Does that make Trump's point on Truth Social that the media is really the Democratic party, or the two are inseparable?Jemima Kelly: It's funny because every time I've written about this, I've gotten pushback. I was the first "ritual sacrifice" on BlueSky a few months ago because I dared to say it was an echo chamber. Apparently, I implied that I wanted more Nazis on BlueSky, which is obviously sarcasm. One thing I find interesting—if you type "New York Times" into BlueSky, you'll get people complaining about how pro-Trump they are or how they're "both-sides-ists." If you type "New York Times" into X, you'll get people complaining about how anti-Trump they are and how it's just an extension of the Democratic Party.I think there's something like 3-4% of American journalists who vote Republican, so clearly, the media does lean left or Democrat. Trump is now letting really marginal right-wing news outlets into his briefings, which in some ways I don't think is all bad. I think it would be good to have a more balanced media.Andrew Keen: You wrote a good piece in December, "Democrats must not abandon their morals," which I guess goes without saying. There are still morals in the Republican party. Well, certainly ex-Republicans like David Brooks and Peter Wehner seem to be the most convincingly moral Americans. But that's another issue. What advice would you give the Democrats? On one hand, you've got a civil war within the party between its left—Bernie Sanders and AOC—versus centrists. They agree on almost nothing apart from being in the same big tent party. What advice would you give Democrats?Jemima Kelly: I don't feel in a position to give advice.Andrew Keen: What would you like to see then?Jemima Kelly: Just to be clear about the "Democrats shouldn't abandon their morals" column, that was written after Biden pardoned his son Hunter, which I found uncool. I hate that. I was arguing that if you're going to talk about how immoral the Trump project is and how full of lies it is—and it is all those things—then you have to show that you're better. I felt that was a failure during the first Trump term.I think outlets like the New York Times are doing better this time around. But there was an op-ed written after the first Trump victory about how objectivity needed to be abandoned, like there was a new game to play. I think that's really short-termist and will set a terrible precedent. Trump has come in again on the back of a massive loss of trust in institutions, which was already happening but was made worse by COVID—all the debates about origins, vaccines, etc. That chipped away at trust in science, government, and institutions in general.I write a lot about virtue and honor. I just wrote about hope. I don't think we think about values enough. Only the right in America seems to talk about religion. I'm not even a Christian myself—I was raised Catholic but don't consider myself that anymore—but I feel that values and morality aren't spoken about enough. The Democrats need to take the high ground. They were pulling up placards saying "Lie" at Trump's address to Congress, wearing colors to represent protest. AOC was doing videos saying "choose your fighter," trying to appeal to young people. It was all so cringe and inauthentic. When Trump is being seen as authentic, and Bernie Sanders, who does come across as authentic, there's such a vacuum of authenticity.Andrew Keen: You noted that one of the reasons why Trump is so successful is his eccentricity. That's one of his attractive qualities. A couple of quick questions before we go. You're at the FT, so you're supposed to understand the global economy. Back in September, you talked about America's crypto election. I have a nagging suspicion that crypto might be one of the things that ultimately blows up Trump. There is a lot of fraud within the administration on crypto, with some people making vast fortunes. Trump or his administration is in bed with the Bitcoin bros. What do you make of this association? Because Trump historically has always been ambivalent about crypto. Is this a sideshow or could it become the main show?Jemima Kelly: I don't think it could become the main show just because crypto is still not systemically important enough. If we compare it to the trade war, it pales in comparison in terms of numbers. The IMF downgrading forecasts by one percentage point for the US—that is far more likely to bring down Trump economically.Andrew Keen: Could we be seeing a restructuring of the global financial economy where crypto becomes an alternative to the Fed, given Trump's hostility towards the Fed?Jemima Kelly: God, no, not in my opinion. My ultimate point with crypto—and by the way, people who believe in Bitcoin (and I use the word "believe" deliberately because I do regard it as a belief system) think that Bitcoin is different from other crypto because it's the first one and will only have 21 million coins ever minted. But these are just strings of digits. Then someone comes along and says, "oh no, Bitcoin and Ethereum," and someone else adds Dogecoin as well.These aren't companies like the S&P 500 where there's a finite list. Each of these coins does absolutely nothing, and there's no limit to the number that can exist. I could speak about crypto for hours, but I always come back to the fact that there is no scarcity. Bitcoiners hate when I say this because they claim Bitcoin is different. There is no limit to the number of cryptocurrencies that can exist. If you look at CoinMarketCap.com, they used to count how many cryptocurrencies there were, but I think it got embarrassing because the counter disappeared. There are tens of thousands, maybe hundreds of thousands at this point. How can there be value when there's no scarcity?Andrew Keen: I hope you're right on that front. Finally, you've been very critical of Silicon Valley and big tech. You wrote a piece recently on Mark Zuckerberg caving into Trump. Zuckerberg caved in, Bezos appears to have with the Washington Post, some law firms have, some haven't. Do you think this will come back to haunt opportunists like Zuckerberg? Is it in the interest, not just moral but economic, of American business leaders, university leaders, and heads of law firms to stand up to all this nonsense?Jemima Kelly: I think so, yes. We have so glorified wealth that people only seem to think value exists in financial terms. If I were Mark Zuckerberg, I would care about what people thought of me, but that's even superficial. I would care about being able to sleep well at night. I don't know how these people justify it.I heard a Mark Andreessen podcast a few months ago where he said, "The one thing people don't understand about billionaires is they don't care about money. They just want people to like them." I thought that was really interesting, but it doesn't seem to match their actions.Andrew Keen: Well, we probably should end. I'm not sure if you've written any columns on Musk, but he seems to represent all of this. He's clearly distancing himself from Trump, just as Trump is distancing himself from Musk. Are we beginning to see the end of this love affair between the Musks and the Andreessens with Trump?Jemima Kelly: It's interesting because Musk was supposedly the savior of electric cars, but the current-day Musk would be so skeptical of electric cars. It's weird that he was that guy and now has to keep being that guy to a certain extent because it's his brand. I think he's been radicalized by people not liking him, and he's being pushed further into this corner because he wants to feel part of a tribe. Now he feels like he fits in at Mar-a-Lago and hangs out with Trump.Do I think that's the end of their relationship? It's hard to know. I wouldn't be surprised if they did fall out quite soon. But they're both very strange people, aren't they?Andrew Keen: To put it mildly. You've got a big picture of the two of them in a Tesla on the cover of the Financial Times. I think they're both secretly fans of Millwall Football Club with their famous song "Nobody Loves Us, We Don't Care."Jemima Kelly: What?Andrew Keen: I'm joking, but maybe the same is true of Donald Trump and certainly Elon Musk.Jemima Kelly: They care so much. That's what's funny. Trump cares more than anyone about people loving him. I think that's what drives him. He really wants to be seen as a good president, which comforts me when things are going badly because I think he wants people to love him. He really wants the Nobel Peace Prize, which is hilarious, but he does want that.Andrew Keen: Well, one thing we've resolved today is that Donald Trump is not a fan of Millwall Football Club. He wants everybody to love him. He does care if they don't. Jemima, I know you don't really care because you're someone who will always say what you think. We'll have to get you back on the show for The View from London. Not an eccentric view, but an irreverent view. Thank you so much, Jemima Kelly, columnist of the FT. We will have you back on the show. Keep well.Jemima Kelly: Thank you, you too. This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit keenon.substack.com/subscribe

Stuff That Interests Me
Things Are Getting Frothy - Here Are Six More Reasons Not to Sell Your Gold

Stuff That Interests Me

Play Episode Listen Later Apr 23, 2025 6:30


This is a free preview of a paid episode. To hear more, visit www.theflyingfrisby.comGold again today. I just can't stop writing about it.Another day. Another new high. We touched $3,500 in the early hours of yesterday morning.That's 27 new highs in the gold price so far this year.Yet there is still something about this bull market that doesn't feel right or complete: it's not confirmed by silver, which should be trading north of $50. Instead it's mired around $32. Nor is this bull market confirmed by the miners, which, in most cases, are nowhere near all-time highs.Nevertheless, on the basis of gold's price relative to equities, commodities and houses, as outlined last week, gold is starting to look expensive. Is it time to have an eye on the exit?In the short term, maybe. It's overbought. We are going into a weak time of year for gold (May to August). But that's why I like physical. It stops you trading!How about this for a chart?It now takes more work than at any time in the last 100 years to buy an ounce of gold.This is as much a function of declining wages in real terms, and the erosion in value of fiat, as it is the price of gold, but all the same it's pretty incredible: how we've all been lied to!There are, though, many signs that gold is now fully valued.But these are not normal times.And a “proper” bull market will see blow-off tops in silver and the miners. We don't have that yet.Let me give you six more reasons (ie largely previously unmentioned reasons) not to be selling your gold.1. You live in the UK.(This is one I have mentioned before). Do not be fooled by the fact that the pound has been performing relatively well in the foreign exchange markets this year. It has lost 37% of its purchasing power since 2020 and has repeatedly proven to be a rotten store of value.The interest on UK gilts is rising, meaning it is getting increasingly expensive for the government to pay for its own debt. We're above Liz Truss levels and the trend is rising.We've got high energy costs too.What this government is actually doing to rein in its spending is one thing. What needs to be done is something else. There is no Elon Musk taking the guillotine to it all. The scale of our government inefficiency, waste, corruption, misallocation of capital is both larger, relative to GDP, and more entrenched than in the US. At the level of government we are not even having a conversation about what needs to be done, let alone actually doing anything.Nor is there any likelihood of this country re-industriali sing. We'll just have to hope people buy our services, what few we offer. In the meantime we'll keep borrowing to pay for stuff.The only way is currency debasement. There has never been a Labour government that did not devalue sterling. Think this one will be any different? Do not store your wealth in sterling. They take enough from you in taxes as it is. Don't let them take any more.As always, if you are looking to buy gold, the bullion dealer I use and recommend is the Pure Gold Company. Pricing is competitive, quality of service is high. They deliver to the UK, the US, Canada and Europe or you can store your gold with them. Find out more here.2. Chinese retailI'm endlessly wittering on about China's central bank buying gold, but one thing I confess I've overlooked is Chinese retail buying. Its real estate and stock markets have both been rubbish, the former especially, so they are buying gold instead. Then think about the sheer size of China's retail market: over a billion potential buyers. Never mind central bank buying, the potential scale of this thing is enormous. What if they al buy an ounce each?When do they stop buying and start selling? When their real estate and stock markets pick up … Meanwhile, China's central bank, the PBOC, which says it bought 5 tonnes last month, actually bought ten times that. (De-dollarisation, which is perhaps the biggest factor of the lot, except re-monetisation, does not even make it onto this list as I‘ve covered it so many times before).3. What about Western retail? What about Western institutions? Western retail and institutional investors have been slow to this bull market and are under-allocated. As my buddy Ross Norman says, “this gold rally has not, to date, been driven by retail investors buying coins and bars, high net clients clamouring for physical, nor institutions buying the gold ETF, not even speculative flows to any great extent. This has been an incredibly low participation rally. A stealth run even”. Portfolios are roughly 2% allocated to gold at present. They were four times that at the peak of the last bull market in 2011. That means a lot of room for more Western buying.Since the confiscation of Russian assets, central banks have bought every pullback to the 50-day moving average. But it's not just central banks now, retail and institutional investors the world over are coming to the party. And if you think they're underweight gold, wait until you see how underweight they are gold miners. (Even these are slowly starting to move - MTL anyone :)?)4. Gold vs the Nasdaq - OMGTrends in this ratio tend to go on for a long time, like ten years or more.How about this for a chart?

The Smart 7
The Sunday 7 - New hope for Extraterrestrial Life, the first Lab grown Human Tooth, Liz Truss plans a Social Network, and we introduce you to Moose Migration

The Smart 7

Play Episode Listen Later Apr 20, 2025 17:20


The Smart 7 is an award winning daily podcast, in association with METRO that gives you everything you need to know in 7 minutes, at 7am, 7 days a week...With over 18 million downloads and consistently charting, including as No. 1 News Podcast on Spotify, we're a trusted source for people every day and the Sunday 7 won a Gold Award as “Best Conversation Starter” in the International Signal Podcast Awards If you're enjoying it, please follow, share, or even post a review, it all helps...Today's episode includes the following guests:Guests Oprah Winfrey - Space Fan and former TV HostEmily Ratajkowski - Actress and Model Will Guyatt - The Smart 7's Tech Guru Dr Ana Angelova-Volpovi - Director of Regenerative Dentistry at Kings College LondonWilliam Curley - Pâtissier Chocolatier Jonathan Parkman - Head of Cocoa, at Marex Mariel Benjamin - Assistant Professor of Allergy and Immunology at the University of Michigan Health Doctor Tania Elliott - Clinical Instructor at NYU Langone Health and spokesperson for the American College of Allergy, Asthma and ImmunologyProfessor Nikku Madhusudhan - Astrophysicist at the University of CambridgeJohan Erlag - Project Manager at SVT Play, Swedish State Broadcaster Contact us over @TheSmart7pod or visit www.thesmart7.com or find out more at www.metro.co.uk This Episode is presented by Mike Wooller, written by Liam Thompson and produced by Daft Doris. Hosted on Acast. See acast.com/privacy for more information.

Aid Thompsin & Other Disappointments
#365 // Katy Perry Went To Space, We'll Just Go To Trade School

Aid Thompsin & Other Disappointments

Play Episode Listen Later Apr 17, 2025 51:31


Pop-singer Katy Perry paid a reported $500,000 to go to space and feel at one with a planet that the rocket's owner is destroying. Liz Truss is launching a new Free Speech social app. Because of course she is. And Fox News would like you to consider trade school for your kids while they send theirs to elite tier colleges they claim to despise. Here are some links i really hope you click: Patreon

TyskySour
Trump Blames “Incompetent” Zelensky For Russia-Ukraine War

TyskySour

Play Episode Listen Later Apr 15, 2025 75:04


Donald Trump has labelled Volodymyr Zelenskyy “incompetent”, blaming for Russia's invasion of Ukraine. Plus: The Birmingham bin strikes continue; and Liz Truss is threatening to launch her own social media network. With Aaron Bastani, Kieran Andrieu and Unite's Zoe Mayou.

Sky News Daily
Electoral Dysfunction: Why isn't Keir Starmer saying what he really thinks?

Sky News Daily

Play Episode Listen Later Apr 11, 2025 33:24


On today's Sky News Daily, we're sharing the latest episode of Electoral Dysfunction. Donald Trump has pressed pause on his higher tariffs... but not before he unleashed absolute chaos on the global economy.It all came down to the bond market - which you might remember from Liz Truss's time as prime minister... Alongside most countries, the UK still has the base level of 10% tariffs on exports and 25% on automobiles, so is the prime minister's "keep cool" strategy still paying off?Or is the UK just in the same boat, waiting along with everybody else for Trump's next move? One thing's for sure - Harriet thinks the UK government is speaking in code. She says Starmer needs to speak up and reassure the British public a bit more. 

In:Dependence
Trump's Economics, Freedom of Speech, and a Quiet Revival // In the News

In:Dependence

Play Episode Listen Later Apr 11, 2025 33:44


What can church leaders learn from Trump's economic u-turn? How can churches freely preach in public? Can we be gospel optimistic for the UK?In this episode of In:Dependence, Phil Topham (FIEC Executive Director), Adrian Reynolds (FIEC Head of National Ministries), and John Stevens (FIEC National Director) discuss stories in the news over the past weeks and how they relate to church leadership.You can watch a video of this episode and get more resources for church leaders on the FIEC website: https://fiec.org.uk/resources/trumps-economics-freedom-of-speech-and-a-quiet-revival.Show notesTrump's ‘Liz Truss moment': when economic bravado meets market reality (theguardian.com)Woman guilty of abortion clinic safe zone breach (bbc.co.uk)When does street preaching become anti-social? (bbc.co.uk)The Quiet Revival: Gen Z leads rise in church attendance (biblesociety.org.uk)Rising Lights (6-10 April, 2026) (fiec.org.uk)About In:Dependence: In:Dependence is FIEC's official podcast, where you'll hear conversations on topics for church leaders.About FIEC: We are ⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠a fellowship of Independent churches⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠⁠ with members of the family across England, Scotland and Wales. Our mission is to see those Independent churches working together with a big vision: to reach Britain for Christ.00:00 - Introduction01:09 - Trump's bombastic economic leadership07:46 - Plurality and admitting failures11:54 - Freedom of speech and Christian persecution22:31 - The Bible Society's "The Quiet Revival" report29:48 - Rising Lights at Easter 202630:34 - The most wonderful time of the year for Christians

Kees de Kort | BNR
‘Donald Trump heeft zijn Liz Truss-moment gehad'

Kees de Kort | BNR

Play Episode Listen Later Apr 11, 2025 8:16


Door de verrassende rust op de financiële markten kan macro-econoom Arnoud Boot zelf ook tot rust komen. Maar dit oog van de orkaan waarin we zitten, is eigenlijk de stilte voor de storm, denkt hij. Want inmiddels wordt duidelijk welke richting de Amerikaanse regering opgaat en wat de strategie van president Donald Trump is. Welke contouren zie je ontstaan? Er zijn twee belangrijke punten. Enerzijds heeft Trump afgelopen week zijn Liz Truss-moment gehad. De kortstondige Britse premier slaagde erin om de financiële markten geweldig onder druk te zetten. De rente liep enorm op en de financiering van de Engelse staatsschuld kwam in het geding. Trump heeft eigenlijk bijna hetzelfde meegemaakt. De Amerikaanse rente liep sterk op. Dat was vervelend voor de Verenigde Staten, gezien de hoge tekorten en de hoge staatsschuld. Dat voelde hij meteen, en hij moest dus een stap terugzetten. Om zijn gezicht te redden, heeft hij uitgehaald naar China. Dat land moet in de hoek gedreven worden; daar kan hij zich nu volledig op richten. Met de rest van de wereld kan hij iets rustiger omgaan. Je kunt proberen China te isoleren, maar dat maakt je nog niet los van de rest van de wereld. China heeft namelijk grote invloed in andere landen en zal zijn economische ontwikkelingsmogelijkheden ook via die andere landen benutten. Hoe moet ik dat dan voor me zien? China heeft grote investeringen in het buitenland, onder meer in Afrika. Het zou voor China geen rare vervolgstap zijn om Afrika als een soort productiefaciliteit te zien. Dus als Trump China wil isoleren, zal hij opnieuw moeten uithalen naar andere landen. Dan wordt het weer onoverzichtelijk. De China-strategie van de VS betekent dus nog meer beleidsonzekerheid. Het is niet zo dat we op dit moment kunnen concluderen dat een merkwaardige periode achter ons ligt. We bevinden ons in een stabiele fase op het niveau van totale beleidsgekte. Er zijn hogere handelstarieven ingevoerd voor sommige landen, en niet voor andere. Landen zullen hun economie daaraan aanpassen, want dit is de nieuwe realiteit. Maar die realiteit kennen we niet, omdat Trump gedwongen zal zijn verdere stappen te zetten als hij zijn strategie ten opzichte van China wil voortzetten. En die strategie móét hij voortzetten. Die aanhoudende onzekerheid vertaalt zich onder meer in hogere rentes, maar ook in tegenvallende investeringen in de Verenigde Staten. Maar dat is toch juist het grote speerpunt van het beleid van Trump? Dat was z’n mantra richting de wereld. In zijn ogen wordt de VS buitenspel gezet door de rest van de wereld, en hij wil dus dat bedrijven gaan investeren in productiefaciliteiten in Amerika. Maar door diezelfde aanhoudende beleidsonzekerheid gelooft eigenlijk niemand meer dat we teruggaan naar een rustige wereld, tenzij er echt heel nieuw leiderschap komt. En ik kan je garanderen: dat gaat nog wel even duren. Bedrijven durven die investeringen gewoon niet aan. Dus: geen nieuwe fabriek in Amerika, geen nieuwe productielijn, niks. Dat gaat gewoon niet gebeuren. Juist door diezelfde onzekerheid. En dan heb je dus het paard achter de wagen gespannen. Dan zorg je er zélf voor dat die investeringen in je eigen land niet doorgaan, terwijl dat juist het hele idee was. En je hele China-strategie zorgt er dan eigenlijk alleen maar voor dat die onzekerheid permanent blijft. Wat betekent dat concreet voor de VS? Eigenlijk moeten we op twee dingen terugkomen. Eén is dat de dollar zich ontwikkelt op een manier waarop die dus verzwakt, nadrukkelijk verzwakt ten opzichte van de euro. Een zwakke dollar is een teken van zwakte van de Verenigde Staten. Amerika wordt daardoor dus minder interessant om in te investeren. Dat betekent ook dat je minder dollars nodig hebt. De dollar verzwakt en de economische groei in Amerika gaat daar echt onder lijden. Als je dat vertrouwen hebt weggeslagen, dan is het heel moeilijk om dat terug te krijgen. De vraag is wat dat betekent voor de toekomst en het internationale financiële systeem. See omnystudio.com/listener for privacy information.

Beth Rigby Interviews...
Why isn't Keir Starmer saying what he really thinks?

Beth Rigby Interviews...

Play Episode Listen Later Apr 10, 2025 33:19


Come and join us LIVE on Tuesday 20th May at Cadogan Hall in London, tickets available now: https://www.aegpresents.co.uk/event/electoral-dysfunction-live/ Donald Trump has pressed pause on his higher tariffs... but not before he unleashed absolute chaos on the global economy.It all came down to the bond market - which you might remember from Liz Truss's time as prime minister... Alongside most countries, the UK still has the base level of 10% tariffs on exports and 25% on automobiles, so is the prime minister's "keep cool" strategy still paying off?Or is the UK just in the same boat, waiting along with everybody else for Trump's next move? One thing's for sure - Harriet thinks the UK government is speaking in code. She says Starmer needs to speak up and reassure the British public a bit more. Also, you might have noticed the excitement in the air because we're doing another live show! Come and join us on Tuesday 20th May at Cadogan Hall in London, tickets available now: https://www.aegpresents.co.uk/event/electoral-dysfunction-live/ Remember you can also watch us on YouTube!    Help us understand more about our listeners by taking our survey  This form should only take a few minutes to complete, and Sky anonymises the responses as much as possible.  

Doze La Polémique
Doze d'économie : L'instant Liz Truss de Donald Trump - 10/04

Doze La Polémique

Play Episode Listen Later Apr 10, 2025 5:43


Ce jeudi 10 avril, les raisons pour lesquelles Donald Trump a changé de direction dans sa politique commerciale ont été abordées par Nicolas Doze dans sa chronique Doze d'économie dans l'émission Tout pour investir présentée par Lorraine Goumot sur BFM Business. Retrouvez l'émission du lundi au vendredi et réécoutez la en podcast.

Intégrale Placements
Doze d'économie : L'instant Liz Truss de Donald Trump - 10/04

Intégrale Placements

Play Episode Listen Later Apr 10, 2025 5:43


Ce jeudi 10 avril, les raisons pour lesquelles Donald Trump a changé de direction dans sa politique commerciale ont été abordées par Nicolas Doze dans sa chronique Doze d'économie dans l'émission Tout pour investir présentée par Lorraine Goumot sur BFM Business. Retrouvez l'émission du lundi au vendredi et réécoutez la en podcast.

Iain Dale All Talk
310. Mark Field

Iain Dale All Talk

Play Episode Listen Later Apr 9, 2025 47:42


Iain Dale interviews former Tory MP and minister Mark Field about his new book THE END OF AN ERA: THE DECLINE AND FALL OF THE TORY PARTY. They speak about why rifts have appeared among Conservatives, how much of a role chance has to play in doing well in politics, Mark's beef with Rory Stewart and affair with Liz Truss!

The News Agents
Trump's Liz Truss moment: “It could be cataclysmic”

The News Agents

Play Episode Listen Later Apr 9, 2025 31:37


Trump's tariffs, combined with China's retaliation, are doing terrible things to stock markets around the world. People are selling off equity and assets in this increasingly uncertain time. But now something even more strange is happening - the bond market is tanking. And that's a sign that confidence in the US government itself has hit the rocks. When Greece starts looking like a safer bet than America you know things are bad. Is Trump going to follow Liz Truss down the road to self immolation? And what happens next? Later, why the Birmingham bin strikes are about something much bigger than rubbish - and why they might soon hit the rest of England.Don't forget you can also subscribe to our other News Agents podcasts via the link below:https://linktr.ee/thenewsagentsThe News Agents is brought to you by HSBC UK - https://www.hsbc.co.uk/EXCLUSIVE NordVPN Deal https://nordvpn.com/thenewsagents Try it risk-free now with a 30-day money-back guarantee

The Other Hand
Is this a Liz Truss moment for the world? Is smuggling into the US the next big thing?

The Other Hand

Play Episode Listen Later Apr 8, 2025 28:00


The foundations of the world economy are cracking Become a member at https://plus.acast.com/s/the-other-hand-with-jim.power-and-chris.johns. Hosted on Acast. See acast.com/privacy for more information.

Handelsblatt Morning Briefing
Börsenchaos: Steht Trump vor dem „Liz-Truss-Moment“?

Handelsblatt Morning Briefing

Play Episode Listen Later Apr 8, 2025 7:48


Die britische Premierministerin sah sich einst durch den Druck der Finanzmärkte gezwungen, ihre Politik zu korrigieren. Droht dem US-Präsidenten angesichts des Börsenchaos nun das Gleiche?

Coffee House Shots
Is Trump the new Truss?

Coffee House Shots

Play Episode Listen Later Apr 7, 2025 15:32


The fallout from Trump's tariffs continues. Last week, Donald Trump ended the free-trade era that has underpinned growth for decades (and potentially also heralded the end of globalisation). Markets around the world have taken a nosedive, prompting fears of a global recession. The only (brief) reprieve was when stock markets rallied because of a misunderstanding regarding comments made by Trump's economic adviser. Once these had been clarified, the Nasdaq dipped once again. Republicans are starting to turn on Trump – including Elon Musk, who has been sending out some coded tweets. The strength of the reaction from the markets has drawn comparisons between Trump and Liz Truss, whose mini-Budget spooked the markets so comprehensively that she had to backtrack after just ten days. Might Trump do the same?   Meanwhile, Keir Starmer has intervened in an effort to protect the UK car industry against Trump's 25 per cent tariffs. What other levers can he pull to reduce the impact on Brits?   Lucy Dunn speaks to Katy Balls and Kate Andrews.   Produced by Oscar Edmondson.

RHLSTP with Richard Herring
RHLSTP Book Club 134 - George Monbiot

RHLSTP with Richard Herring

Play Episode Listen Later Apr 4, 2025 70:54


RHLSTP Book Club 134 - The Invisible Doctrine - Recorded in front of an audience at the prestigious Royal Geographical Society, Richard talks to journalist George Monbiot about his very readable investigation into Neo-Liberalism (co-authored with Peter Hutchinson) The Invisible Doctrine. George does most of the talking, which is probably for the best and reveals what he considers to the be the starting point of capitalism, why capitalism and commerce are not the same thing, the roots of Neo Liberalism in the closing stages of World War II, why it took 30 years to come to prominence, conspiracy theories versus conspiracy fictions, why the left has missed opportunities to defeat Neo-liberalism, what happened when Liz Truss tried to institute its policies all in one go, why Starmer is wrong to try and legitimise Reform and whether there is hope for the future and what we can do to stand up to a political system that threatens our planet. Rousing and fascinating stuff.Event hosted by How To Academy - check out their podcast, the How To Academy Podcast, exploring big ideas with distinguished leaders, artists, and thinkers, available wherever you listen.Buy the book here - https://uk.bookshop.org/p/books/the-invisible-doctrine-understanding-neoliberalism-peter-hutchinson/7402463Support our Kickstarter here https://www.kickstarter.com/projects/467836598/can-i-have-my-ball-backTo see Rich on tour head here http://richardherring.com/ballback/tour Become a member at https://plus.acast.com/s/rhlstp. Hosted on Acast. See acast.com/privacy for more information.

PoliticsHome
Mark Field on the end of the Tory era

PoliticsHome

Play Episode Listen Later Apr 4, 2025 36:12


Former Conservative MP and minister Mark Field speaks to host Alain Tolhurst about his new memoir The End Of An Era, which as the title suggests charts both his own time in politics as well as the waning fortunes of his party over the past 25 years. They discuss his reflections five years on from stepping down from the Commons, what the Tories got right as well as wrong in their time in office, how they might recover once more from last year's disastrous election, why he's voted for the losing candidate in every leadership contest stretching back to Ken Clarke, and the response to writing about his much-publicised affair with Liz Truss, and the incident at the Mansion House dinner in 2019 that led to the premature end of his ministerial career. To sign up for our newsletters click herePresented by Alain Tolhurst, produced by Nick Hilton and edited by Ewan Cameron for Podot

Wealthion
Larry McDonald: U.S. Debt Crisis Will Break the Market | Part I

Wealthion

Play Episode Listen Later Apr 2, 2025 30:36


The U.S. debt crisis is spiraling and Larry McDonald says the market hasn't priced it in. With over $37 trillion in debt and $1 trillion in annual interest payments, the U.S. is barreling toward what McDonald calls a “Liz Truss moment”: a surge in bond issuance that could trigger market chaos. In this eye-opening interview, The Bear Traps Report founder and bestselling author joins James Connor to explain why we're entering a stagflationary regime eerily similar to the 1970s and why your portfolio needs to adapt. Topics discussed in part I: Why the U.S. faces a debt-driven crisis of confidence The real S&P 500 earnings (hint: it's not $270, but much lower) A $4 trillion rotation out of Big Tech How capital is fleeing U.S. markets and into global value Why hard assets like gold, oil, copper, and coal are set to outperform What “financial repression” means for your money Don't miss part II of this insightful and actionable interview coming out tomorrow! Chapters: 0:54 - Why Panama? Inside Larry's Strategic Move 2:22 - What Investors Are Really Worried About Right Now 5:34 - The U.S. Debt Spiral: Can It Be Financed? 9:59 - The Coming “Liz Truss” Shock for U.S. Bonds 12:04 - Inflation Won't Quit: Can the Fed Keep Up? 13:41 - Is the U.S. Headed for Recession or Just Slowing Down? 16:47 - Bond Market Whiplash: What the Volatility Signals 20:52 - TLT, Bonds, and a World of Higher Rates 22:11 - Global Capital Is Moving—Here's Where It's Going 24:16 - S&P in Trouble? The Earnings Crash Nobody's Pricing In 26:46 - Betting on Gold: Why the Smart Money's Watching It What would you like to see on Wealthion? We want to hear from you! Please take our poll here: https://www.youtube.com/post/UgkxtJvEEM4j_eRy7iT---EJ_mbkp1En1P0O Investment Concerns? Get a free portfolio review with Wealthion's endorsed financial advisors at https://bit.ly/41WYWTY Hard Assets Alliance - The Best Way to Invest in Gold and Silver: https://www.hardassetsalliance.com/?aff=WTH Connect with us online: Website: https://www.wealthion.com X: https://www.x.com/wealthion Instagram: https://www.instagram.com/wealthionofficial/ LinkedIn: https://www.linkedin.com/company/wealthion/ #Wealthion #Wealth #Finance #Investing #DebtCrisis #Stagflation #Gold #HardAssets #SovereignDebt #MarketCrash #EconomicCrisis #CapitalFlight #MacroInvesting #FinancialRepression #S&P500  ________________________________________________________________________ IMPORTANT NOTE: The information, opinions, and insights expressed by our guests do not necessarily reflect the views of Wealthion. They are intended to provide a diverse perspective on the economy, investing, and other relevant topics to enrich your understanding of these complex fields. While we value and appreciate the insights shared by our esteemed guests, they are to be viewed as personal opinions and not as investment advice or recommendations from Wealthion. These opinions should not replace your own due diligence or the advice of a professional financial advisor. We strongly encourage all of our audience members to seek out the guidance of a financial advisor who can provide advice based on your individual circumstances and financial goals. Wealthion has a distinguished network of advisors who are available to guide you on your financial journey. However, should you choose to seek guidance elsewhere, we respect and support your decision to do so. The world of finance and investment is intricate and diverse. It's our mission at Wealthion to provide you with a variety of insights and perspectives to help you navigate it more effectively. We thank you for your understanding and your trust. Learn more about your ad choices. Visit megaphone.fm/adchoices

Political Currency
Could Chancellor Rachel Reeves' gamble pay off?

Political Currency

Play Episode Listen Later Mar 27, 2025 65:08


Has Chancellor Rachel Reeves got it right? Ed Balls and George Osborne provide their immediate reaction to her Spring Statement, questioning whether she's missed her big opportunity for a relaunch. George likens her approach to ‘staying at the Roulette table', having failed to land on black the first time around… He also compares her inflexibility to fiscal rules to his own approach while Chancellor, before the pair turn their attention to the government's own impact assessment on welfare reform. Ed explains what the findings of the report potentially means for millions of families across the country. And, having returned from the HSBC Global Investment Summit in Hong Kong mere hours before recording, they turn their attention to uncertainty over the global economy following the announcement of yet more tariffs from Donald Trump. They also ponder somewhat gloomy international perceptions of the UK, with Brexit and Liz Truss being consistent themes that are still raised in conversations abroad. Finally the US national security establishment strayed into farcical territory this week, sharing operational details of a strike on Houthi rebels in Yemen on the messaging app Signal - and accidentally including the editor of The Atlantic, Jeff Goldberg, in the conversation. George and Ed express their bemusement at this turn of events and share their own experiences in government of receiving highly classified intelligence... You could have been listening to this episode of EMQs early and ad-free with a Political Currency Gold subscription! And even better, you can now get even more perks by becoming a member of our KITCHEN CABINET to get access to live tickets, merch and more! Subscribe now: patreon.com/politicalcurrency or on Apple Podcasts: apple.co/politicalcurrency. Please note Kitchen Cabinet subscriptions are only available through Patreon.Technical Producer: Daniel PapeProducer: Miriam Hall and Jarek ŻabaExecutive Producers: Ellie Clifford Political Currency is a Persephonica Production and is part of the Acast Creator Network. Hosted on Acast. See acast.com/privacy for more information. Subscribe now on Patreon Hosted on Acast. See acast.com/privacy for more information.

Jimmy's Jobs of the Future
Jeremy Hunt on China, Trump & Rachel Reeves

Jimmy's Jobs of the Future

Play Episode Listen Later Mar 26, 2025 61:02


Want your own Brand or Business Podcast? Try out our NEW Podcast Calculator: https://www.boxlight.io/ Conservative Politician Jeremy Hunt on Challenges and Innovations in Politics & Business In this episode of Jimmy's Jobs of the Future, Jeremy Hunt, former UK Chancellor and Foreign Secretary, discusses his experiences in politics, entrepreneurship, and public policy. He talks about his unexpected appointment as Chancellor under Liz Truss, navigating a £72 billion financial black hole, and the importance of strategic long-term decision-making in government. Hunt also shares insights on the evolving culture of entrepreneurship, the impact of technology on politics and business, and the challenges of labor supply in a post-Brexit world. Reflecting on his varied career, Hunt provides unique perspectives on maintaining mental resilience, the influence of AI on the job market, and the geopolitical landscape. Join us for an in-depth conversation with one of the UK's most experienced politicians. 00:00 Why Jeremy Hunt Said Yes to the Toughest Job in Politics 01:45 His Wild Entrepreneurial Start (Including Marmalade in Japan) 08:42 Taking Over During a £72 Billion Crisis 12:17 Why Millions Aren't Working—and What He'd Do About It 24:35 Will AI Kill the Job Market? Hunt Weighs In 29:12 Can Britain Still Be a Global Power? 29:52 “China Has Changed — And So Must We” 31:24 The Migration Crisis and How Democracies Fight Back 32:04 Have We Lost Faith in Democracy? 33:55 Why We Need to Be Bolder on the Global Stage 34:55 How the Conservative Party Shifted on China 38:11 Do Trade and Security Still Mix? Hunt's Take 43:29 Why Tech Is Britain's Most Powerful Weapon 46:02 What Politics Gets Wrong (and Why He'd Never Be PM) 49:36 What's Next for Jeremy Hunt? ********** Follow us on socials! Instagram: https://www.instagram.com/jimmysjobs Tiktok: https://www.tiktok.com/@jimmysjobsofthefuture Twitter / X: https://www.twitter.com/JimmyM Linkedin: https://www.linkedin.com/in/jimmy-mcloughlin-obe/ Want to come on the show? hello@jobsofthefuture.co Sponsor the show or Partner with us: sunny@jobsofthefuture.co Credits: Host / Exec Producer: Jimmy McLoughlin OBE Producer: Sunny Winter Editor: Sunny Winter Junior Producer: Thuy Dong Learn more about your ad choices. Visit podcastchoices.com/adchoices

Some Dare Call It Conspiracy
Humour in the Face of Absurdity (with Will Sebag-Montefiore)

Some Dare Call It Conspiracy

Play Episode Listen Later Mar 26, 2025 89:51


In this episode of "Some Dare Call It Conspiracy", titled "Humour In The Face Of Absurdity", we're joined by the talented satirist and political commentator Will Sebag-Montefiore. Will takes us on a hilarious journey through the utterly absurd world of modern politics and conspiracy theories, showcasing the power of humour in tackling even the most serious subjects. From his unexpected leap into satire to his unique comedic style, Will shares some fantastic stories about how he uses humour to navigate the complexities of our times. We delve into the bizarre realities that often outdo even the wildest conspiracy theories, and explore how charismatic figures like Liz Truss can shape public opinion. We also discuss the role of media in shaping our perceptions, the strange allure of conspiracy theories, and the science behind why we believe what we do. Plus, we tackle the ever-changing world of social media, its impact on our mental health, and the challenges of dealing with online trolls. Join us for a conversation that's both thought-provoking and laugh-out-loud funny, and reminds us why critical thinking is more important than ever in these times of misinformation.Become a supporter of this podcast: https://www.spreaker.com/podcast/some-dare-call-it-conspiracy--5932731/support.

The Glenn Beck Program
Ep 250 | 'Britain Is a Failed State': PM Truss BLASTS UK's Decline | The Glenn Beck Podcast  

The Glenn Beck Program

Play Episode Listen Later Mar 22, 2025 72:34


Liz Truss, former prime minister of the United Kingdom, says she wants to be part of the “second American revolution” — “Trump-style.” With “Britian heading for bankruptcy,” “grooming gangs,” unchecked immigration, and the rising threat of Islamism, is it too late to Make Europe Great Again? Despite an unhinged deep state and free-speech crackdowns, Liz Truss still has hope, which is why she is working on a new media venture to rival the BBC. She exposes how the Bank of England “turned on her” and then marvels at the incompetence of Canada's new Prime Minister Mark Carney before offering a chilling warning: “If we do not turn this around within 10 years, the West is finished.”           GLENN'S SPONSORS          Relief Factor          Relief Factor can help you live pain-free! The three-week quick start is only $19.95. Visit https://www.relieffactor.com/ or call 800-4-RELIEF.      Chapter  When it comes to Medicare, Chapter puts you first. Dial #250 and say the key word “Chapter,” or visit https://askchapter.org/BECK.  Learn more about your ad choices. Visit megaphone.fm/adchoices

The Two-Minute Briefing
Trump: The dealmaker who can't make a deal

The Two-Minute Briefing

Play Episode Listen Later Mar 19, 2025 39:10


Well he may have written The Art of the Deal - but so far Donald Trump is finding that trying to do a deal with Vladimir Putin is a somewhat different kettle of fish.Just hours after Trump's "very productive" call with his Russian counterpart - Putin continued his attack on Ukraine, including on some energy infrastructure - something Putin had pledged to put an end to immediately in his call.With Ukraine responding in kind with drone attacks and the two countries seemingly no nearer to peace, Kamal and Camilla ask - is Vladimir Putin simply laughing at Donald Trump?They're also joined in the studio by former Conservative MP Mark Field, whose new book contains fascinating insights into life under three successive Tory Prime Ministers, the contretemps when he manhandled an environmental protestor and his marriage-ending affair with a certain Liz Truss...Producers: Georgia Coan and Lilian FawcettSenior Producer: John CadiganPlanning Editor: Venetia RaineyExecutive Producer: Louisa WellsSocial Media Producer: Rachel DuffyVideo Editor: Andy MackenzieStudio Director: Meghan SearleEditor: Camilla TomineyOriginal music by Goss StudioHosted on Acast. See acast.com/privacy for more information. Hosted on Acast. See acast.com/privacy for more information.

Paper Cuts
Lettuce Liz's steamy affair exposed! – The healing power of gossip – Chefs serve up revenge to critics

Paper Cuts

Play Episode Listen Later Mar 17, 2025 38:34


We read the papers so you don't have to. Today: The Daily Mail has published a salacious account of an affair between Liz Truss and some Tory bloke. If you listen closely, you can hear the rage in Natasha's voice. Meanwhile, The Guardian has gone White Lotus crazy and has published a wonderful column on the power of gossiping, which Grainne fully endorses. Plus – Miranda has found a brilliant piece in The Times that lifts the lid on the petty ways in which chefs fight back against bad reviews. Miranda Sawyer is joined by host of LBC's Saturday night show Natasha Devon and BAFTA nominated comedian Gráinne Maguire.   Use code PAPERCUTS to get an exclusive 60% off an annual Incogni plan: https://incogni.com/papercuts Follow Paper Cuts: • Bluesky: https://bsky.app/profile/papercutsshow.bsky.social • Threads: https://www.threads.net/@papercutsshow • Twitter: https://twitter.com/papercutsshow • Instagram: https://www.instagram.com/papercutsshow • TikTok: https://www.tiktok.com/@papercutsshow Illustrations by Modern Toss https://moderntoss.com  Written and presented by Miranda Sawyer. Audio production: Simon Williams. Production. Liam Tait. Design: James Parrett. Music: Simon Williams. Managing Editor: Jacob Jarvis. Exec Producer: Martin Bojtos. Group Editor: Andrew Harrison. PAPER CUTS is a Podmasters Production Podmasters.co.uk Learn more about your ad choices. Visit podcastchoices.com/adchoices

Mr M History Podcast
The Downfall of the Tories: Truss and Sunak

Mr M History Podcast

Play Episode Listen Later Mar 16, 2025 64:05


Correction: I was unfair to Liz Truss, she was in for *49 days not 45!Get bonus podcasts: https://www.patreon.com/c/MrMitchellHistory

The Nick Abbot Habit
The pantomime horse

The Nick Abbot Habit

Play Episode Listen Later Mar 10, 2025 28:47


In these clips from 2022, Liz Truss was wearing an embarrassing hat, Bodger was looking for somewhere to hide and a footballer did something he shouldn't have.

Fallacious Trump
Inconsistent Comparison (Redux) - FT#169

Fallacious Trump

Play Episode Listen Later Mar 3, 2025 86:26


In the one-hundred-and-sixty-ninth episode, we take another look at the Inconsistent Comparison Fallacy, starting with Trump comparing Covid to the flu, Tucker Carlson being a Russian propagandist, and Candace Owens being an anti-vaxxer.In Mark's British Politics Corner, we look at Kemi Badenoch being incredibly xenophobic, and Liz Truss being delusional.In the Fallacy in the Wild section, we check out examples from The Good Wife, Who Killed the Electric Car, and an 80s 2CV print ad.Jim and Mark go head to head in Fake News, the game in which Mark has to guess which one of three Trump quotes Jim made up.Then we talk about the inefficiency of DOGE.And finally, we round up some of the other crazy Trump stories from the past week.The full show notes for this episode can be found at https://fallacioustrump.com/ft169 You can contact the guys at pod@fallacioustrump.com, on BlueSky @FallaciousTrump, Discord at fallacioustrump.com/discord or facebook at facebook.com/groups/fallacioustrumpCreate your podcast today! #madeonzencastrSupport this podcast at — https://redcircle.com/fallacious-trump/donationsAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

The New European Podcast
Q&A: Is Liz Truss Ok?

The New European Podcast

Play Episode Listen Later Mar 2, 2025 37:27


The Matts grapple with our former Prime Minister's latest outbursts, dig into a deep mailbag of Burnham questions and speculate wildly on the Oscars this evening. Enjoy! Hosted on Acast. See acast.com/privacy for more information.

Stories of our times
How To Tell Jokes, Deal With Trump, And Welcome Sally

Stories of our times

Play Episode Listen Later Mar 1, 2025 41:36


We're welcoming a new political mastermind to the podcast this week - Sally Morgan has been a Labour insider since the days of Neil Kinnock and went on to be Tony Blair's right-hand woman in Downing Street, at his side for some of the biggest moments in recent political history.She joins Polly, Danny and Hugo to discuss leaders who can tell jokes and those who can't, Liz Truss calling Britain a failed state, and whether anyone knows how to save the transatlantic relationship.Send questions, comments and voicenotes to: howtowin@thetimes.co.uk Hosted on Acast. See acast.com/privacy for more information.

How To Win An Election
How To Tell Jokes, Deal With Trump, And Welcome Sally

How To Win An Election

Play Episode Listen Later Feb 27, 2025 41:12


We're welcoming a new political mastermind to the podcast this week - Sally Morgan has been a Labour insider since the days of Neil Kinnock and went on to be Tony Blair's right-hand woman in Downing Street, at his side for some of the biggest moments in recent political history.She joins Polly, Danny and Hugo to discuss leaders who can tell jokes and those who can't, Liz Truss calling Britain a failed state, and whether anyone knows how to save the transatlantic relationship.Send questions, comments and voicenotes to: howtowin@thetimes.co.uk Hosted on Acast. See acast.com/privacy for more information.

Sandy Rios in the Morning
Liz Truss, former Prime Minister of the UK

Sandy Rios in the Morning

Play Episode Listen Later Feb 26, 2025 44:56


Iain Dale All Talk
304. Baroness Thérèse Coffey

Iain Dale All Talk

Play Episode Listen Later Feb 26, 2025 63:07


Iain interviews former deputy prime minister Baroness Thérèse Coffey about her many roles in government and which were her favourite (and least favourite!), as well as what she wants to do next in life as she's joined the Lords and her relationship with former prime minister Liz Truss... and much more!

The Bugle
Stop Resisting

The Bugle

Play Episode Listen Later Feb 25, 2025 47:48


Tiff Stevenson and Anuvab Pal join Andy Zaltzman for more of your finest bullshit bookended satire.This week, the team report on Germany's tentative shift to the right, Trump wondering why 'dictator' Zelenskyy, Starmer and Macron have done nothing to end Russia's invasion of Ukraine, Liz Truss urging 'Elon's nerd army' to examine Britain's 'deep state' and - in comparatively normal news - Amazon buying James Bond.Meanwhile, Anuvab's yoga teacher imparts some wisdom to apply to all of the above.Listen in for top-tier satire, incisive analysis, and the usual dose of nonsense.

System Update with Glenn Greenwald
Michael Tracey Reports from CPAC: Exclusive Interviews with Liz Truss, Steve Bannon & More

System Update with Glenn Greenwald

Play Episode Listen Later Feb 25, 2025 70:10


Exclusive from CPAC: Michael Tracey's WWII chat with Steve Bannon, interviews with two former prime ministers, CPAC divisions over AfD, and more -------------------------------- Watch full episodes on Rumble, streamed LIVE 7pm ET. Become part of our Locals community Follow Prof. Ha-Joon Chang's work Follow System Update:  Twitter Instagram TikTok Facebook LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices

On The Edge With Andrew Gold
513. Liz Truss: My 49 Days as PM, The Queen's Last Words & Our Labour Future (Sharia Law & Gazan Migrants)

On The Edge With Andrew Gold

Play Episode Listen Later Feb 24, 2025 64:24


Former Prime Minister Liz Truss talks about the managed decline of the UK, with Gazan migrants set to join and the growing influence of Islam through Sharia Law and British Pakistani Grooming Gangs. She also talks about her 49 days in power, what it felt like to be ousted so soon and her final ever audience with Queen Elizabeth II. Get her book: https://elizabethtruss.com/book/ Follow her on X: https://x.com/trussliz Sub to my emails: http://andrewgoldheretics.com  Check out my new documentary channel: https://youtube.com/@andrewgoldinvestigates  Andrew on X: https://twitter.com/andrewgold_ok   Insta: https://www.instagram.com/andrewgold_ok Heretics YouTube channel: https://www.youtube.com/@andrewgoldheretics Learn more about your ad choices. Visit megaphone.fm/adchoices

John Solomon Reports
Liz Truss: Fighting for Freedom in a Censored UK

John Solomon Reports

Play Episode Listen Later Feb 23, 2025 25:03


Former UK Prime Minister Liz Truss discusses the alarming state of free speech and government accountability in the UK. Truss sheds light on the recent attempts to gain backdoor access to Apple phones and the implications for civil liberties. With a focus on the challenges facing the media, the rise of censorship, and the immigration crisis, she calls for a revival of independent media and grassroots movements to reclaim democracy. Additional interview with China expert Gordon Chang, who reveals there's an alarming rise of Chinese espionage under the Biden administration. Chang discusses the implications of the FBI's findings, the current state of China's economy, and potential countermeasures the U.S. can employ to curb China's influence both domestically and globally. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Standpoint with Gabe Groisman
DOGE The UK?! With Liz Truss

Standpoint with Gabe Groisman

Play Episode Listen Later Feb 18, 2025 37:08


In this episode,  UK ex-Prime Minister Liz Truss joins Standpoint to discuss everything from trade to Elon Musk's DOGE to the rise of Radical Islamism in the UK. Liz Truss opens up about how Western Civilization is on its downfall with the current governments in place, especially in the UK. She also dissects what happened in the 50 days she was Prime Minister and how the UK voted for BREXIT to make massive changes - ones they have yet to see.

OH GOD, WHAT NOW? Formerly Remainiacs
Happy Birthday, Brexit! – 5th Anniversary Gala Celebration!

OH GOD, WHAT NOW? Formerly Remainiacs

Play Episode Listen Later Jan 31, 2025 67:29


It's five years this week since we left the EU. Isn't everything going brilliantly? Special guest Anand Menon of UK In A Changing Europe joins us to assess the many, many achievements of Global Britain. Has Brexit changed Britain irrevocably? What destroyed the Tory party: leaving the EU, Liz Truss or Boris Johnson's own hubris? What's the real reason why Labour won't touch this issue? And what happens if a radicalising Europe stops looking like such a secure place to rejoin after all? Plus, in the Extra Bit for Patreons: should we stay strong and not let AI “improve” our writing?  NOT FOR PATREON • Support us on Patreon for ad-free listening and much, much more.  Written and presented by Ros Taylor with Hannah Fearn and Marie le Conte. Audio production by Robin Leeburn. Theme music by Cornershop. Produced by Chris Jones. Managing Editor: Jacob Jarvis. Group Editor: Andrew Harrison OH GOD, WHAT NOW? is a Podmasters production. www.podmasters.co.uk   Learn more about your ad choices. Visit podcastchoices.com/adchoices

Standard Issue Podcast
The Bush Telegraph: What in the skibidi is going on?

Standard Issue Podcast

Play Episode Listen Later Jan 30, 2025 26:19


Suella Braverman's glitching like Liz Truss, millions of kids in poverty, no new label for extreme misogyny, and ‘sexism is bad, pals': there's a lot to unpack in this week's Bush Telegraph, brought to you by Mick and Jen. There's good news, too, of course, including some of the yoot's favourite words, brought to you by Jen, and a surprise book recommendation, brought to you by Mick. And if you've been hardcore manifesting a disturbing segue in JOTB about that time Ian Botham accidentally sent an unsolicited dick pic to the world, you are in for a badly angled treat. Learn more about your ad choices. Visit megaphone.fm/adchoices