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The Failure of Government Economic Policy with Dan Tubb

Peter McCormack

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The Failure of Government Economic Policy with Dan Tubb - WBD642 Peter McCormack

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Dan Tubb is a podcaster and former venture capitalist. In this interview, we discuss the problems with fixing the sovereign debt problem in the context of broken media, broken politics and broken international institutions. We talk about the general ignorance of the problems facing society, and how this compounds the difficulty of resolving the situation.

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The last show with Dan Tubb was extremely popular. Dan set out in clear terms why the current economic system is at a crossroads: continuation of the accumulation of debt without rebalancing fiscal commitments is unsustainable; equally, there are no easy solutions. But when debt payments become one of the main government expenditures it’s well past the time to act.

In this follow-up show we discuss the causes, ramifications and potential mitigations with Dan. How did the boomer generation unintentionally fuel the current economic problems, and why are they reluctant to change tack? Why is government becoming increasingly dogmatic and coercive in their policy application? Can AI provide a source of growth for the economy that averts the debt spiral? Should we expect the government to resolve all these issues?

These aren’t theoretical concerns; there is evidence abounds that society's relationship with the state is shifting: Macron’s difficulties in reigning in state spending in France; the growth in power of the Dutch farmers; Brexit. For too long those in government have taken the electorate for granted, whilst feathering their own nests. However, the issue is whether this break between the people and power will only exacerbate problems.

The solution surely has to be in more direct engagement between decision-makers and citizens. States rights in the US have long served as a beacon of governance for other parts of the world: bottom up democracy that provides for competition and innovation. It’s not that we need less government, it's that we need more representative and localised government. Further, if we want a functioning democracy, we need to entice the best back into government.

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00:01:51: Introductions
00:02:51: Building in-person networks around Bitcoin
00:12:58: Previous show TL;DR - the economic death spiral
00:22:50: Growth out of debt with AI
00:31:50: Economic imperialism
00:34:00: The impact of the boomers
00:49:41: Propaganda and political coercion
00:59:04: Government vs public pushback
01:05:06: The real policy decision-makers
01:16:17: The problem of the political cycle
01:20:27: Putin and the Ukraine War
01:31:36: The euro vs the dollar, and the decline of the petrodollar
01:38:59: Fixing democracy, and the value of blockchains
01:44:49: Liquid democracy, and the gaming of politics
01:52:18: Importance of localism
01:55:08: Civil service malaise
01:59:16: Representative democracy
02:06:39: Final comments

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