Join us at EartH Hackney on Monday 16 February to see Ash Sarkar in conversation with Aaron Bastani, discussing ‘Why the Right is Winning’:
https://dice.fm/event/wwrypg-downstream-irl-aaron-bastani-in-conversation-with-ash-sarkar-16th-feb-earth-london-tickets
Sign up for the new Downstream Newsletter here: novara.media/downstreamnewsletter
This week, Donald Trump continued his streak of threatening tariffs against any country that opposes him, increasing the odds of an escalating trade war and further destabilising the global economic system. But according to this week’s guest, the system is in desperate need of reform. Indeed, she thinks without a complete structural overhaul, it will soon ‘blow itself up.’
On Downstream this week is Keynesian economist, Ann Pettifor, to discuss her latest book, ‘The Global Casino: How Wall Street Gambles with People and the Planet.’ In conversation with Ash Sarkar, they discuss the state of the global economy, and the ‘shadow’ banking system that holds $217 trillion in financial assets – beyond the control of any taxman.
How did Ann predict, with precision and foresight, the global financial crisis of 2008? Will the AI bubble burst, triggering the next economic crisis? And is the Green New Deal – which Ann helped to create – dead in the water, or a transformative plan B that we can turn to when the next crisis invariably comes?
00:00 Intro
03:20 Predicting the 2008 Financial Crash
09:20 Blowing Up the System
11:53 Where Is the Economy?
13:44 Private Profits, Public Losses
16:37 The Extraordinary Story of Masayoshi Son
19:43 How the Ultra Wealthy Speculate and Gamble
21:32 Trump’s Dark Money
22:11 Will the AI Bubble Burst?
25:53 Crypto, Gold, and Money
32:01 The Shadow Banking System
33:49 Where Are Our Pensions and Are They Safe?
39:05 How Technocrats at the Federal Reserve Rule the Economy
44:31 The Bond Market, Liz Truss, and the Division of Power
48:13 The Golden Age of Economics
53:30 Rosa Luxemburg and Revolution Through Education
55:25 The Time the US Ran Out of Gold
1:00:26 How Wall Street Controls Trump
1:04:21 The Case for a Weaker Dollar
1:05:33 Global Surplus
1:09:30 The Consumer State of Mind
1:12:51 The Green New Deal: Dead, or Just Waiting for the Next Crisis?
Buy a copy of The Global Casino by Ann Pettifor (Verso): https://www.versobooks.com/products/3258-the-global-casino
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https://shop.novaramedia.com/Join us at EartH Hackney on Monday 16 February to see Ash Sarkar in conversation with Aaron Bastani, discussing ‘Why the Right is Winning’:
https://dice.fm/event/wwrypg-downstream-irl-aaron-bastani-in-conversation-with-ash-sarkar-16th-feb-earth-london-tickets
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