The Strong Towns Podcast

What do we call a society that—from Wall Street to Main Street, from Washington, D.C. to your local city council chambers—seems to have been uprooted from facts and time-tested fundamentals, and is being driven instead by whatever stories can be sold as truth? Ben Hunt calls it “Fiat World,” a world declared into existence. A former hedge fund manager, in 2013 Ben Hunt created Epsilon Theory, a newsletter and website that has become essential reading for more than 100,000 professional investors and allocators across 180 countries. He’s also our very special guest on this week’s episode of the Strong Towns podcast. Ben tells Strong Towns president Chuck Marohn that massive debt and dislocation, social media, and the 24-hour news cycle (among other forces) have helped shape a world in which everything is presented by declaration. We have to be in this world, Ben says, but “we don’t have to give them our heart. We can maintain a distance of mind, an autonomy of mind, so that we see clearly what’s happening...W