S9 Ep24: Stablecoins and Global Imbalances
A radical macroeconomic experiment is under way at exactly the moment the US external position is showing signs of real stress.Gilles Moëc, Chief Economist at AXA, has written a chapter in the fourth ...
13 Huhti 31min
S9 Ep23: Global imbalances redux
Three times since the 1970s, global imbalances have grown large. In the 1980s, the US trade deficit ballooned under Volcker's tight money and Reagan's tax cuts and military spending. In the 2000s, a g...
13 Huhti 34min
S9 Ep22: World War Trade
On 2 April 2025, the United States imposed tariffs on almost every country on earth. The next day, China responded with export controls on the entire world. In the space of one week, world trade had b...
2 Huhti 26min
S9 Ep21: The Bank of England's capital mistake?
"When you look at the world now, does it look more uncertain or less uncertain?" In December 2025, the Bank of England's Financial Policy Committee (FPC) answered that question by cutting the equity c...
27 Maalis 24min
S9 Ep20: What triggered January 6?
Two explanations circulated immediately after the March to Save America on January 6, 2021 turned into a riot: a mob manipulated by a demagogue, or ordinary citizens defending democracy against a stol...
20 Maalis 20min
S9 Ep19: Can blockchain decentralise money, contracts, and finance?
Every Bitcoin transaction needs to be verified on the blockchain. There is no central authority that does this, but Bitcoin's blockchain has run uninterrupted since 2009 and now carries a market capit...
17 Maalis 33min
S9 Ep18: Will AI transform economic growth?
Could AI transform our economies to produce explosive growth? Most economists are sceptical at best. Anton Korinek of the University of Virginia, leader of the CEPR research policy network on AI, thin...
13 Maalis 31min
S9 Ep17: Sanctions and financial repression
Financial repression forces banks and citizens to hold government debt on terms the market would never accept. Economists have called it distortionary for fifty years. It never went away.Oleg Itskhoki...
6 Maalis 18min
