The David McWilliams Podcast

In this episode, we explore the dramatic downfall of a once-wealthy nation that is now one of the poorest: Venezuela. How does a country with vast natural resources find itself in such dire straits? We delve into the devastating effects of misguided economic policies, rampant corruption, and the political missteps that led to hyperinflation, mass poverty, and the collapse of basic services. Join us as we examine how Venezuela’s leaders, blinded by ideology and short-term gains, destroyed a thriving economy, and what lessons this holds for the rest of the world.Pre-order Money: A Story of Humanity Now: https://linktr.ee/moneydavidmcwilliams

This week, we delve into the growing crisis facing Dublin’s city center, exploring the troubling "donut effect" where the heart of the city becomes hollowed out due to rising crime, unaffordable rents, and a lack of residential footfall. Drawing parallels to the decline of once-thriving cities like San Francisco, we examine how Dublin’s vibrant center is at risk of becoming a ghost town. With commercial property vacancies on the rise and locals increasingly avoiding the city, the stats paint a worrying picture: a 2.5% decline in hospitality spending, 40% of people cutting back on visits, and a nightlife sector that’s half the size of New Zealand’s. The discussion highlights the urgent need for bold, strategic interventions—like the tax-driven revitalization of the 90s—to prevent Dublin from slipping into irreversible decline. Without decisive action, the vibrant, living city we know could soon be a thing of the past.Pre-order Money: A Story of Humanity Now: https://linktr.ee/moneydavidmcwilliams

This week, we delve into the unsettling reality that this generation in Ireland might be the first in two generations to be poorer than their parents. We explore the ripple effects this could have on career choices, social class, and societal structure. For years, class snobbery in Ireland has intrigued us, from the rigid social hierarchies of the past to the dramatic social uplift during the Celtic Tiger era. However, the end of this upward mobility could bring about significant changes. Drawing parallels with the U.S., where only 50% of those born in 1980 earn more than their parents compared to 90% of those born in 1940, we examine what this means for Ireland. The discussion includes the fascinating idea of "kitchen table capital," the influence of family environment on success, and how immigrants often fill critical roles in an economy. As Ireland potentially faces stalled social mobility, we foresee increased tension and division, similar to the culture wars in the U.S. This episode provides a compelling look at the future of social mobility in Ireland and the possible societal shifts ahead.Pre-order Money: A Story of Humanity here: https://linktr.ee/moneydavidmcwilliams

With financial markets on edge, the world is anxiously awaiting the Fed’s decision on whether to cut or maintain historically high interest rates. In this episode, we dive into the profound impact these choices have on commercial property, exchange rates, and stock markets. We explore the 'wealth effect' of these rates, now around 5%, and what it means for the real economy. A sharp drop in non-farm payrolls to 115,000 jobs from an average of 250,000 raises concerns about the U.S. economic trajectory—could a recession be on the horizon? We also bring the discussion home, examining how these shifts impact Ireland, especially given our reliance on multinationals like Intel, which recently saw a 30% stock drop. The Fed's data-driven decisions are not unlike ancient Assyrian stargazing, blending science with a dose of guesswork in shaping our economic future.Pre-order Money: A Story of Humanity here: https://linktr.ee/moneydavidmcwilliams

This week, we dive into the issue of inheritance tax in Ireland, asking if it's time for a rethink. With house prices skyrocketing by 62% since 2012, many middle-class families find themselves unexpectedly asset-rich but cash-poor, facing significant tax bills on inherited homes. We explore potential adjustments like increasing the tax-free threshold or adjusting tax rates based on asset types, such as land and property. Could these changes ease the burden on families while fostering a more dynamic economy? Should inheritance tax exist at all, or is it crucial for maintaining economic equality? We also delve into the history of inheritance, exploring post-colonial influences on the Irish psyche and the surprising alignment of libertarian and Marxist views on wealth distribution.

This week, we delve into one of the most transformative shifts in economics and finance: the rise of e-banking, spotlighted by Revolut's meteoric growth. Revolut, a Lithuanian-born company now boasting 2.7 million Irish customers—nearly three-quarters of the adult population—has quickly transitioned from a simple travel card service to a major banking player. With recent licenses from the European Central Bank and the UK, Revolut is set to enter the mortgage market, leveraging its 45 million global users and disrupting traditional banking models with no physical assets. This digital upstart, now valued at around $45 billion, challenges established banks like AIB and Bank of Ireland, demonstrating how quickly the financial landscape is evolving. We explore how Revolut’s model compares to the historical development of money and banking, questioning the mainstream understanding of money creation and the role of banks. Tune in as we discuss how this 'Napster of Finance' is reshaping the industry and what it means for the future of money.

What a week! The attempted assassination of Donald Trump, Joe Biden's unexpected withdrawal from the race, and Kamala Harris setting a fundraising record has thrown the U.S. political landscape into disarray. Dubbed a Gen X woman with Gen Z vibes, Harris has energized young voters, reminiscent of the Obama era. As Trump names J.D. Vance as his VP pick, we delve into the implications. Vance, a complex figure with a history of criticizing Trump, now embodies a unique mix of Elon Musk's innovation and Bernie Sanders' populism. His anti-corporate stance, advocacy for wage increases, and controversial views on immigration and foreign policy could redefine the MAGA movement. We explore how these shifts might impact Ireland and Europe, especially if American multinationals are pulled back home, potentially destabilizing the global economy. Tune in as we dissect these political upheavals and their far-reaching consequences.

The Central Statistics Office predicts Ireland's population could surge to 7.5 million by 2057, mostly due to inward migration. What could this mean for Ireland's future? Are we already at maximum capacity as it is? We argue for boosting local industries to match the high productivity of multinationals, crafting a vibrant and resilient economy for the future. We kick off by examining the recent Microsoft outage, exposing the fragility of our hyper-connected global economy. Without a strategic economic plan to harness Ireland's impending growth, we risk social and economic upheaval.

I read Nathan Thrall’s book last year before the Gaza and October 7th massacres. I couldn’t put it down. It tells the true story of a young Palestinian boy, a tragic accident, his family and the daily humiliations of the Palestinian people. There is much cruelty but there is much love, too, and courage, resolve and tenderness. For everyone who is interested in Palestine and Israel, listen to this - this is a conversation for you.