We’ve hit the 80s and Reagan’s low tax and defence spending have contributed to the America’s worst foreign debt in history. It turns out the US has consistently been in debt, so why does this time matter? Well, because they’re borrowing heavily from the Japanese, and have turned from creditors to creditees. It leads to the deindustrialisation of the Midwest, the rise of Sony and the Walkman, and even Bill Clinton’s affair with Monica Lewsinky… But why did kids like Billy care? What does it mean for America’s political future? Can America ever be debt-free? Does that even matter? Iwan Morgan has even returned to talk us through it all! He’s sort of like a walking Economics for Dummies, which is perfect for a pair of economic dummies like us….
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Foreign Debt

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This brand new pop culture history podcast is nothing like anything you've heard before, and it's everything you need to understand the modern world. Katie Puckrik and Tom Fordyce, an American pop culture buff and a British music lover, have taken the smash-hit song by Billy Joel and turned it into a podcast. Billy lists 120 people, places, and things in 'We Didn't Start The Fire', and Katie and Tom will do an episode on every single one to create the most fascinating, random and original history of the post-war world. Over the next two and a half years, we're going to learn about politics, rock 'n' roll, sport, space, television, the Cold War, guided along the way by historians, eyewitnesses, and mega-fans. Billy started it. We're going to finish it. Follow us on Twitter and Instagram @spreadthatfire, email us at fire@crowdnetwork.co.uk, and go to spreadthatfire.com to buy merch.

Foreign Debt

History