The Peter McCormack Show

Governments aren't going to pay this debt down in real terms. More likely, they pay it back in weaker money.
Luke Gromen argues we're already deep into a sovereign debt cycle - and that AI could speed up the moment it really starts to crack.
In this interview we discuss how the system works: leverage, entitlements, interest costs, bond markets - and what happens when deflation hits an economy that depends on inflation to stay upright.
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TIMESTAMPS:
00:00:00 – Debt Reality
00:01:57 – Math vs Politics
00:06:26 – Already In It
00:08:51 – Japan Warning
00:14:38 – Acute Phase Risk
00:15:32 – What To Do
00:21:33 – End Of The Cycle
00:34:13 – AI Disruption
00:40:20 – 2007 Parallel
00:49:07 – UBI & Politics
00:58:02 – Sovereign Insolvency
01:08:26 – Meaning & Collapse
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CONTACT PETE
› Website – http://petermccormack.com
› Feedback – https://www.petermccormack.com/contact
› Email – [email protected]
› Instagram – /mccormack555
› X/Twitter – https://x.com/petermccormack/
CONNECT WITH LUKE GROMEN
› X/Twitter – https://x.com/LukeGromen
› Website – http://fftt-llc.com/
SPONSORS
› IREN - https://www.iren.com/
› Ledger - https://www.ledger.com/
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LISTEN / SUBSCRIBE
› Apple Podcasts: https://apple.co/40ruY9K
› Spotify: https://spoti.fi/3Wc94Vu
› Fountain: https://bit.ly/FountainPM
› YouTube: https://bit.ly/YouTube_PM
› Rumble: https://bit.ly/RumblePM
FILMED BY CURTIS TAYLOR
› https://www.curttaylor.co.uk/
› https://x.com/curttayloruk/
EDITED BY CONOR MCCORMACK
› https://x.com/ConorM04
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Western Civilisation is collapsing, and the exits are being bricked up.
In this episode, Balaji Srinivasan (Author, The Network State) delivers a clear warning: the US and UK are approaching a sovereign debt default, and the "Berlin Wall" of capital controls is coming to trap your wealth inside.
We discuss why "staying is surrendering," the rise of the "Grey Tribe" (Tech) against the State, and his 3-step survival guide for the middle class: Liquidate, Emigrate, Accelerate.
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TIMESTAMPS:
00:00:00 – Introduction
00:33:35 – "The West Is Over"
00:41:36 – No Saving America
00:43:47 – Internet First Future
00:52:52 – Take The L
01:10:28 – Debt Reality
01:29:12 – Liquidate. Emigrate.
01:55:00 – AI Job Disruption
02:15:27 – AI Safety Reframed
02:25:11 – Foundation Strategy
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CONTACT PETE
› Website – http://petermccormack.com
› Feedback – https://www.petermccormack.com/contact
› Email – [email protected]
› Instagram – /mccormack555
› X/Twitter – https://x.com/petermccormack/
CONNECT WITH BALAJI SRINIVASAN
› X/Twitter – https://x.com/balajis
› Website – https://ns.com/
SPONSORS
› IREN - https://www.iren.com/
› Ledger - https://www.ledger.com/
› Incogni - https://incogni.com/peter
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LISTEN / SUBSCRIBE
› Apple Podcasts: https://apple.co/40ruY9K
› Spotify: https://spoti.fi/3Wc94Vu
› Fountain: https://bit.ly/FountainPM
› YouTube: https://bit.ly/YouTube_PM
› Rumble: https://bit.ly/RumblePM
FILMED BY CURTIS TAYLOR
› https://www.curttaylor.co.uk/
› https://x.com/curttayloruk/
EDITED BY CONOR MCCORMACK
› https://x.com/ConorM04
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In this episode, Laila Cunningham discusses London's demographic change, mass immigration, housing failure and whether the capital is becoming a stress test for Britain.
We discuss debt, inflation, generational decline, state expansion, and why productivity gains from technology aren't improving living standards. We also explore AI, education reform, automation, housing regulation and whether the UK is prepared for technological acceleration.
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TIMESTAMPS:
00:00:00 – Introduction
00:09:51 – Cultural Confidence
00:18:56 – Housing & Regulation
00:28:53 – Media & Distraction
00:37:34 – Sanctuary Policies
00:45:48 – Immigration Incentives
00:53:52 – Fracturing Right
01:03:35 – Globalisation Effects
01:14:23 – Debt & Sound Money
01:21:38 – What Happens Next?
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CONTACT PETE
› Website – http://petermccormack.com
› Feedback – https://www.petermccormack.com/contact
› Email – [email protected]
› Instagram – /mccormack555
› X/Twitter – https://x.com/petermccormack/
CONNECT WITH LAILA CUNNINGHAM
› X/Twitter – https://x.com/policylaila
SPONSORS
› Ledger - https://www.ledger.com/
› Incogni - https://incogni.com/peter
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LISTEN / SUBSCRIBE
› Apple Podcasts: https://apple.co/40ruY9K
› Spotify: https://spoti.fi/3Wc94Vu
› Fountain: https://bit.ly/FountainPM
› YouTube: https://bit.ly/YouTube_PM
› Rumble: https://bit.ly/RumblePM
FILMED BY CURTIS TAYLOR
› https://www.curttaylor.co.uk/
› https://x.com/curttayloruk/
EDITED BY CONOR MCCORMACK
› https://x.com/ConorM04
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In this episode, Curtis Yarvin argues that modern democracies may lack clear sovereignty and that technological acceleration and sovereign debt are exposing that weakness.
We discuss AI as a force multiplier, bureaucratic continuity, legitimacy, regime structure and the limits of procedural governance.
We also explore fiscal exhaustion, debt sustainability, and whether a system that cannot make decisive changes can survive compounding crises.
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TIMESTAMPS:
00:00:00 – What Is Sovereignty?
00:11:34 – Elections vs Authority
00:24:08 – Institutional Continuity
00:37:52 – AI as Acceleration
00:52:41 – Bureaucratic Limits
01:07:29 – Responsibility Problem
01:17:42 – Debt & Fiscal Fragility
01:31:05 – Reform Constraints
01:49:44 – Regime Stability
02:07:10 – What Breaks First?
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CONTACT PETE
› Website – http://petermccormack.com
› Feedback – https://www.petermccormack.com/contact
› Email – [email protected]
› Instagram – /mccormack555
› X/Twitter – https://x.com/petermccormack/
CONNECT WITH CURTIS YARVIN
› X/Twitter – https://x.com/curtis_yarvin
› Substack – https://graymirror.substack.com/
SPONSORS
› IREN - https://www.iren.com/
› Ledger - https://www.ledger.com/
› Incogni - https://incogni.com/peter
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LISTEN / SUBSCRIBE
› Apple Podcasts: https://apple.co/40ruY9K
› Spotify: https://spoti.fi/3Wc94Vu
› Fountain: https://bit.ly/FountainPM
› YouTube: https://bit.ly/YouTube_PM
› Rumble: https://bit.ly/RumblePM
FILMED BY CURTIS TAYLOR
› https://www.curttaylor.co.uk
› https://x.com/curttayloruk/
EDITED BY CONOR MCCORMACK
› https://x.com/ConorM04
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In this episode, Kathryn Porter explains why energy is civilisation and how he UK grid may be heading toward rationing and rolling blackouts within the next decade.
We discuss aging gas power stations, unrealistic utilisation assumptions, weak grid conditions, North Sea decline and why no single institution is accountable for security of supply.
We also cover what a blackout would actually look like, why nuclear build timelines matter, and how regulation and governance failures are compounding energy risk.
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TIMESTAMPS:
00:00:00 - The Threat
00:05:27 - 12GW At Risk
00:08:03 - Political Complacency
00:11:59 - Iberia Blackout
00:14:47 - 65-85% Probability of Blackouts
00:28:02 - January Near Miss
00:36:08 - What Rationing Looks Like
00:39:34 - Governance Failure
00:40:54 - Nuclear Build Path
00:55:04 - Civilisational Risk
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CONTACT PETE
› Website – http://petermccormack.com
› Feedback – https://www.petermccormack.com/contact
› Email – [email protected]
› Instagram – /mccormack555
› X/Twitter – https://x.com/petermccormack/
CONNECT WITH KATHRYN PORTER
› X/Twitter – https://x.com/KathrynPorter26
› Website – https://watt-logic.com/
SPONSORS
› IREN - https://www.iren.com/
› Ledger - https://www.ledger.com/
› Incogni - https://incogni.com/peter
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LISTEN / SUBSCRIBE
› Apple Podcasts: https://apple.co/40ruY9K
› Spotify: https://spoti.fi/3Wc94Vu
› Fountain: https://bit.ly/FountainPM
› YouTube: https://bit.ly/YouTube_PM
› Rumble: https://bit.ly/RumblePM
FILMED BY CURTIS TAYLOR
› https://www.curttaylor.co.uk/
› https://x.com/curttayloruk/
EDITED BY CONOR MCCORMACK
› https://x.com/ConorM04
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