The Peter McCormack Show

EDITED BY CONOR MCCORMACK

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#167 - Andrew Lilico - Britain Is Poorer Than The Poorest US State Apr 21, 2026

Show notes

Britain is now poorer than the poorest American state and economist Andrew Lilico says a full-blown fiscal crisis is coming within ten years. He explains how Britain broke itself, why the political establishment lost its faith and the £180 billion in spending cuts he believes should be the baseline, not the radical option.

Andrew Lilico is Executive Director of Europe Economics and Chairman of the IEA Shadow Monetary Policy Committee. He is one of Britain's most prominent economists and a regular voice on UK fiscal policy.

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TIMESTAMPS:

00:00:00 - Britain Is Poorer Than We Pretend

00:01:17 - The Coming Fiscal Crisis

00:02:48 - The Three Forms Of A UK Fiscal Crisis

00:05:00 - How Britain Betrayed A Generation

00:09:11 - ONE Oligarchy Or Competing Ones

00:13:06 - The 20-year Loss Of Coherence In British Politics

00:15:00 - Why Politicians No Longer Trust Voters

00:17:56 - When The System Broke

00:19:42 - Short-Termism And The Death Of Economic Justice

00:22:34 - WHO Actually Runs Britain

00:25:00 - Bank Of England Independence And Its Hidden Cost

00:30:00 - Do We Need An Anti-establishment Movement?

00:33:00 - Why Reform Is Diluting Its Own Message

00:40:00 - £180 Billion In Spending Cuts

00:43:13 - The Bank Of England Back Under Political Control

00:44:05 - The "Surrealist Game" Of Inflation Targets

00:50:00 - Is It Really The Voters' Fault?

00:54:00 - What The Polls Are Telling US

00:55:30 - Is There An Optimistic Path Out Of This?

01:03:12 - UK GDP Per Capita Used To Be Higher Than The US

01:05:44 - What Britain Can Learn From Argentina

01:10:35 - What Should An Ordinary Person Do?

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CONNECT WITH ANDREW LILLICO

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› Website – https://www.telegraph.co.uk/authors/a/ak-ao/andrew-lilico/

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FILMED BY CURTIS TAYLOR

EDITED BY CONOR MCCORMACK

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#166 - Freddie New - How Governments Destroy Money and Empires (The Lessons From Rome) Apr 16, 2026

Show notes

Freddie New studied the classics and has spent years obsessing over one question: how does a superpower destroy itself? The answer, he argues, is always the same - it starts with the money.

In this conversation we map the fall of Rome directly onto the West today. The Roman denarius lost 97% of its purchasing power over 150 years. The British pound has lost 95% of its in the last century alone. The parallels don't stop there - military overstretch, a dependent population kept loyal by the state, leaders who can't stop the printing even when they know it's killing them. Rome couldn't stop. We can't either.

Freddie has read all 1.5 million words of Edward Gibbon's History of the Decline and Fall of the Roman Empire. In this conversation he explains what that teaches us about where we are right now - and whether there is a way out.

In this episode:

•⁠ ⁠How Rome debased the denarius from 100% silver to 3% over 300 years

•⁠ ⁠Why currency debasement always starts slowly and why it can never be stopped

•⁠ ⁠The eerie similarity between Rome's military dependence and modern welfare states

•⁠ ⁠What Diocletian's price controls tell us about every government's response to inflation

•⁠ ⁠Why Constantine's hard money reset saved the empire for another generation

•⁠ ⁠What hard money offers that fiat never can

•⁠ ⁠Whether the West can course correct or whether collapse is now inevitable

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TIMESTAMPS:

00:00:00 - Currency Collapse Starts

00:01:17 - Rome vs Britain

00:05:00 - How Debasement Spreads

00:09:52 - The Soft Default

00:18:02 - The Grift Economy

00:22:18 - The Hollowing Out

00:30:19 - How Rome Worked

00:35:00 - Why Collapse Happens

00:39:08 - Welfare And Power

00:46:28 - War Footing Debate

00:52:33 - Are We In Decline?

00:57:54 - Constantine Solution

01:05:22 - AI And Power Shift

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CONTACT PETE

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CONNECT WITH FREDDIE NEW

› Twitter – https://x.com/freddienew

› Website – https://bitcoinpolicy.uk/

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FILMED BY CURTIS TAYLOR

EDITED BY CONOR MCCORMACK

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Hosted on Acast. See acast.com/privacy for more information.

#165 - Emmet Connor - The Ideology Slowly Destroying the West Apr 14, 2026

Show notes

Emmet Connor, author of Red Pandemic, joins me to discuss his claim that Marxist ideas are expanding globally through culture, institutions and politics.

We start with the core question: is there actually a coherent Marxist movement in the modern West or is the term being used too loosely to describe broader social change?

We also explore what Marxism is today, how it may have evolved beyond its original economic focus and whether its historical outcomes are a failure of implementation or something inherent to the ideology itself.

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TIMESTAMPS:

00:00:00 - Marxism Or Leftism

00:05:00 - Defining The Revolution

00:10:55 - Useful Idiots Problem

00:18:52 - Fabian Influence Debate

00:30:00 - Do Marxists Know?

00:37:52 - How Ideas Spread

00:48:34 - Freedom And Liberty

01:02:23 - The Right’s Branding

01:16:30 - Where The Right Wins

01:30:31 - Power And Democracy

01:46:56 - What People Actually Want

02:10:23 - Final Reflections

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CONNECT WITH EMMET CONNOR

› Twitter – https://x.com/ResolvingR

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FILMED BY CURTIS TAYLOR

EDITED BY CONOR MCCORMACK

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Hosted on Acast. See acast.com/privacy for more information.

#164 - Liz Truss - Why It Doesn't Matter Who You Vote For Apr 10, 2026

Show notes

Liz Truss, former Prime Minister of the United Kingdom, joins me to discuss what really happened during her time in office and why she believes the UK is in long-term economic and political decline.

We talk about the limits of political power, the role of institutions like the Bank of England, and why she argues that meaningful change is harder than voters realise. Liz also reflects on why she was removed from office and whether Britain can reverse its current trajectory.

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TIMESTAMPS:

00:00:00 - Who Has Power

00:02:09 - 25 Years Stagnation

00:07:13 - “I Was Vindicated”

00:12:04 - Politicians vs Blob

00:16:52 - Anti-Establishment Movement

00:22:29 - Bank of England Power

00:30:46 - Leadership vs Movement

00:37:20 - How The System Controls

00:46:44 - Who Runs Government

00:54:28 - Reversing The System

01:00:01 - Consequences of Decline

01:04:59 - Debt Crisis Risk

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CONTACT PETE

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CONNECT WITH LIZ TRUSS

› Website – https://www.cpac.org/int/greatbritain/home

› Twitter – https://x.com/trussliz

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FILMED BY CURTIS TAYLOR

EDITED BY CONOR MCCORMACK

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#163 - Scott Horton - How Debt, Inflation and War Are All Connected Apr 08, 2026

Show notes

Scott Horton is the director of Antiwar.com and one of the most outspoken critics of US foreign policy.

In this episode, Scott explains how war connects directly to the things people feel every day - rising prices, falling purchasing power, growing debt and a system that never seems to improve no matter who is in charge.

We also discuss how governments fund wars, why debt keeps expanding, how inflation quietly shifts the cost onto ordinary people and the incentives that keep the cycle going. Lastly, Scott explains the role of media, the relationship between politics and defence spending, and why these conflicts continue even when public support is weak.

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TIMESTAMPS:

00:00:00 - Perpetual War System

00:02:00 - Hidden War Tax

00:05:00 - Debt Spiral

00:08:00 - Empire Costs

00:09:30 - War & Inflation

00:25:00 - Cost Of War

00:28:40 - Iron Triangle

00:33:10 - “It’s A Racket”

00:43:30 - Emotional Toll

01:02:10 - Any Hope Left

01:05:00 - How It Ends

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CONTACT PETE

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CONNECT WITH SCOTT HORTON

› Website – https://scotthortonacademy.com/

› Twitter – https://x.com/scotthortonshow

SPONSORS

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FILMED BY CURTIS TAYLOR

EDITED BY CONOR MCCORMACK