The David McWilliams Podcast

As the war in Ukraine drags on, how do we untangle the web of money, power, and manipulation at the heart of Vladimir Putin’s regime? In this Christmas special, we revisit one of our most revealing episodes with financier and political activist Bill Browder, recorded in May 2022.From the origins of Putin’s rise to power to the oligarchs’ uneasy pact and the enduring corruption within Russia, Browder offers an insider’s perspective on the forces driving this geopolitical chess game. With haunting parallels to today’s events, we explore the enduring dynamics of Russia’s kleptocracy, the Western response to the war in Ukraine, and the grim calculus of prolonging conflict to pursue regime change. What’s the West’s real endgame? Can sanctions and military aid shift the balance, or are we destined for years of grinding stalemate? And what does it say about global power when wars are dictated not just by ideology, but by who controls the money?

As we hurtle toward an AI-driven future, what’s really at stake? In this Christmas Eve special, we revisit our conversation with Martin Wolf, the Financial Times’ chief economics correspondent, and dive into his predictions for the seismic changes reshaping our world.From the rise of AI and its potential to dismantle the middle class, to the demographic time bombs ticking in the West and sub-Saharan Africa, we explore how technology, climate, and population shifts are redefining economics and geopolitics. Are we headed for a new era of prosperity, or a feudal system ruled by techno-overlords? And what role does socialising the means of production play in protecting democracy? Happy Christmas!

Was 2024 the turning point for our economic, political, and cultural future? In this episode, we break down the top 10 seismic shifts that reshaped the world. From Trump’s polarising return and America’s brotocracy taking center stage, to the collapse of the Assad regime and the waning dominance of Germany and France, the global order is tilting. Why is Italy’s Meloni now Europe’s most compelling leader? What does China’s deflation signal for the rest of us? And how has Ireland quietly positioned itself as a winner in the chaos? These are the moments that matter, and this is the year that changes everything.

Ireland’s economy is booming, bolstered by its close ties to the American economic engine. But beneath the shine of GDP growth and high living standards lies a stark reality: a growing gap between standard of living and quality of life. Why are Irish families delaying children longer than any other in Europe? Why hasn’t Ireland used its wealth to solve fundamental issues like childcare, housing, and commutes? In this episode, we explore the divergence between the U.S. and European economies, shedding light on why Ireland is an economic outlier. Drawing on research from Money: A Story of Humanity, we discuss the driving forces behind American innovation, Europe’s struggles with productivity, and how Ireland’s successes mask deeper societal challenges. From satellite images of city luminescence to Belgium’s clever solutions to vacant housing, this is a conversation about the paradox of prosperity—and what happens when governments fail to plan for the future.

The fall of Assad’s 50-year regime marks a pivotal moment in Middle Eastern history, but what happens next? In this episode, we connect the dots between the collapse of Syria’s government, the geopolitical power vacuum left behind, and the ripple effects across Europe. Drawing from decades of history, including parallels to regime changes from Saddam Hussein to Gaddafi, we examine the roles of Russia, Iran, Hezbollah, and the jihadist HTS in shaping Syria’s uncertain future. Taking notes from The Great War for Civilisation by Robert Fisk for historical insights into Middle Eastern geopolitics, unpack the complexities of migration patterns, and analyse how rising far-right movements—from Marine Le Pen in France to the AFD in Germany—could destabilise Europe's political landscape further. With millions displaced and Europe bracing for another wave of desperate migrants, this episode explores the intersection of history, politics, and human resilience.

Santa exists because the people will it to exist"—a lovely line from The Miracle on 34th Street sets the stage for this episode's deep dive into Bitcoin hitting the monumental $100K mark. But is Bitcoin really money? Or just a speculative asset fuelled by belief and lobbying? As we explore the parallels between wampum shells, tulip bulbs, and digital currencies, we unravel the irony of Bitcoin’s journey from anti-establishment rebellion to Wall Street darling. Is this the dawn of a MAGA-backed financial revolution, or a precarious bet on an apocalyptic future where the dollar falters? And what happens when speculative euphoria meets institutional leverage? From New York’s vibrant streets to its historical roots as a trading hub, we examine how faith—whether in Santa Claus, Bitcoin, or the dollar—has always been the driving force behind the world’s currencies.

As the global financial system shifts under the weight of geopolitical tensions and Chinese economic policy reversals, Russell Napier introduces a concept that could redefine the next decade: National Capitalism. This podcast unpacks the startling implications of a system where governments force domestic savings to fund national priorities, effectively ending the free flow of global capital. With 57.2 trillion USD in U.S. assets owned by foreigners and 77% of U.S. GDP reliant on external creditors, the stakes are higher than ever. Could rising Chinese inflation, a faltering U.S. debt system, and Europe’s internal pressures spark a new financial architecture? From how Ireland might adapt to a national savings mandate to whether young people could finally claw back wealth from older generations, this episode dives into the economic, generational, and geopolitical ripple effects of a post-globalist world.

As Ireland inches toward a new government, the housing crisis dominates the agenda. But what if the solution lies not in political reshuffling, but in taking inspiration from unexpected places—like Japan? With Tokyo building 145,000 homes in a single year compared to London’s mere 38,000, we explore how rethinking urban density, bulldozing outdated planning laws, and embracing modular innovation could transform Ireland's housing landscape. Why are Anglophone nations stuck at 400 homes per 1,000 residents, while their European counterparts boast 560? We dive into the cultural shifts, global comparisons, and the collective effort required to address this disparity—arguing that it’s time to abandon our obsession with old, draughty houses and embrace a bold new vision.

On the eve of Ireland’s election, we shift focus to the global forces shaping our lives. Why can’t today’s youth afford homes like their parents could? The answer lies far beyond Ireland—in decisions made in Beijing in the 1990s, the mechanics of global monetary systems, and the ripple effects of China’s currency strategies on interest rates and property prices worldwide.Join us as we connect the dots between China's rise, America’s spending habits, and how these forces turned Irish homes into financial assets rather than affordable shelters. Plus, hear from monetary historian Russell Napier about what the unraveling of these 30-year trends could mean for the future. It's a deep dive into money, power, and policy you won’t want to miss.