Financial repression
35
MENTIONS
2
EPISODES
2
PODCASTS
Search complete. 35 mentions across 2 episodes found for "Financial repression".
Sep 18, 2026
Merryn Somerset WebbHOST
... gets higher and higher and higher and higher and higher.
Merryn Somerset WebbHOST
And over the years, you and I have spoken a lot about financial repression and how we get out of this.
John StepekHOST
Yeah.
Merryn Somerset WebbHOST
And the way that you get out of large amounts of public debt is not by having high interest rates.
Merryn Somerset WebbHOST
... at least.
Merryn Somerset WebbHOST
So I was reading something today that basically said, look, at this point, everyone's in the same trouble.
Merryn Somerset WebbHOST
So it's not like just one country will run financial repression or two will run financial repression.
Merryn Somerset WebbHOST
Basically, everybody's got to get rates below inflation or below nominal growth.
Russell NapierGUEST
the money.
Russell NapierGUEST
When I talk about financial repression, it is kind of esoteric.
Russell NapierGUEST
So I had to think up a better phrase for it.
Russell NapierGUEST
So I call it stealing money from old people.
6 MINS LATER
Russell NapierGUEST
And then it stopped again.
Russell NapierGUEST
But there was a brief glimmer there where real wages went up.
Russell NapierGUEST
So I think we're going to talk about financial repression.
Russell NapierGUEST
And it's worth remembering that in this system, it's all about getting nominal growing faster than debt.