Mohamed El-Erian: America Is Exporting Its Debt Crisis

War with Iran, record diesel prices, and a global bond sell-off: how much more can the world economy take? Mohamed El-Erian (Wharton, Allianz, former CEO of PIMCO) joins Sir Richard Dearlove (former head of MI6) and John Raine to explain what's driving the bond market sell-off, why the US is exporting instability to the UK, France, and Japan, and why AI is "80% asset, 20% liability." Plus: how PIMCO really navigated Lehman's collapse, and the one decision he's watching. In this episode: (00:00) Intro (03:07) Why this crisis is different (04:04) Permacrisis and "minilateralism" (05:46) What's driving the global bond sell-off (07:32) The hit to US households: mortgages, car loans, the K-shaped economy (10:10) "Our yields, your problem": UK, France and Japan (13:05) France, Mélenchon and Europe's leadership vacuum (17:59) AI: 80% asset, 20% liability (20:35) US-China AI Race (31:30) Did PIMCO predict Lehman Brothers collapse? (35:58) Who wins in today’s economy? (44:51) Can finance ministers fix what politicians can't? (46:32) How important are AI companies to the economy? Hosted by Sir Richard Dearlove (former MI6 Chief) and John Raine (International Institute for Strategic Studies). Learn more about your ad choices. Visit megaphone.fm/adchoices