Dana El-Kurd

The important lesson we learned from that was to do it more.

Yep.

And this is why the term third world is a slur.

Because instead of being a political movement, because the countries in the political movement that was called the third world movement...

all of their economies got fucking annihilated because they had these, like, loans whose interest rate could change, and the U.S.

jacked up all the interest rates.

And so suddenly, their loans were, like, like, the amount you had to, like, pay on the loans, it went from, like, 20% or something to, like, 50 or 100 or some shit.

And...

You know, and, like, these countries have never recovered.

Like, Nigeria has never really economically recovered from the shit that happened to them.

This is why a whole bunch of Latin America is like this, too.

Like, why there's so much sort of, like, riding systemic poverty is that their economies were entirely transformed into machines to, like, pay back these fucking debts taken out by these dictators.

This is the whole fucking economy now.

And, you know, there's other shadow banks that do other kind of completely unhinged shit, right?

And I've been focusing this week on, like, specifically the kind that blew up the economy in 2008.

But there's another kind that's like blowing up the economy right now, which is called private credit, which is I mentioned this briefly earlier.

But private credit is when these like unregulated companies that are not banks give out unregulated loans with unknown terms to other companies.

And then those loans go to shit.

And there's a whole bunch of ways that can blow up, including, by the way, these companies are funding a bunch of the AI bubble.

Oh, and that's a great investment.