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Morgan Housel

πŸ‘€ Speaker
6219 total appearances

Appearances Over Time

Podcast Appearances

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

Oh yeah.

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

But at the time, especially in the 1930s, before he became the war hero of the 1940s, in the 1930s, a lot of people hated the guy.

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

He was the picture of everything that was wrong with America and he was gonna be, he was the emperor kind of thing.

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

He was not a popular guy in the slightest.

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

And very interesting thing, I think about this a lot.

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

There was in 1932,

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

a very well organized plot.

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

It was called the business plot, where a lot of very wealthy business people in America came together and wanted to organize, did organize what was gonna be a coup.

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

And they were gonna force FDR out of office and replace him with a Marine general named Smedley Butler, who would effectively- Smedley.

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

Smedley Butler, great name.

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

And he would effectively become dictator of the United States.

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

And in an era where that happened in Germany and Italy, and go on down the list of where that was happening,

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

And as I said earlier, fascism was not a dirty word at that point.

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

It came damn close to happening.

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

It didn't, obviously.

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

Because it didn't happen.

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

And so a lot of people don't pay attention to the things that didn't happen.

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

They don't pay attention to the terrorist attacks that were thwarted.

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

Yeah, no, it's a very interesting thing because it was very well organized and funded by a lot of wealthy people to do it.

Tom Bilyeu's Impact Theory
Trade Wars, Student Debt, and the K-Shaped Economy: Navigating Financial Turbulence Today | Morgan Housel On Impact Theory w/ Tom Bilyeu Pt. 2

And so we know the story that happened, but there's a lot of alternative histories in which