The Peter McCormack Show

Einstein, Aliens and the Mystery of Existence.

A complete space nerd fest of an episode with @PaulMattSutter from the Ask A Spaceman Podcast.

We also discuss Space-Time, Black Holes, Simulation Theory, Quantum Entanglement, Time Travel and much more.

Links to episode in 🧵

The economy would look very different if bad theory collapsed like bad bridges. Instead, as @ProfSteveKeen points out, economists get to be wrong forever and still advise governments.

In 1929, margin debt hit 9% of GDP with 10:1 leverage, fantasy wealth built on a matchstick tower. Hearing @ProfSteveKeen compare that to today is genuinely unsettling.

Letting banks lend “as much as they like” into housing turned a basic human need into a leveraged casino, and @ProfSteveKeen argues that’s why the dream became a nightmare.

“Losses socialised, profits privatised” Karl-Friedrich Israel nails the real issue behind every modern bailout.