Matt Taibbi: Does The Rise Of Socialism Risk The End Of Western Civilization?
A discussion on the dangers of turning from capitalism
Today we're going to start with our usual financial fare, but then branch out into other important topics impacting society today, like the state of free speech, media bais and the role of government.
I'm taking the license to do so because of our good fortune to be joined today by Matt Taibbi, one of the few remaining truly great independent journalists -- a rare breed these days.
Many of you know Matt from his work at Rolling Stone where, among other great scoops, he chronicled the unfolding of the Great Financial Crisis, as well as the abuses that caused it, in a plain-language manner that the general public could finally understand.
Or you may know him from his pioneering work on the Twitter Files, exposing the government-driven censorship and narrative planting that had metastasized across the social media ecosystem during the COVID era.
Or you may know him from his ongoing work on Substack at his Racket News channel, or from the many books he has authored.
We are very lucky to have him join us today to discuss the dangers of the rise of socialism in the West (Matt spent years living in the USSR in the 1980s).
For a very important discussion, click here or on the video below:
REMINDER: In celebration of the silver price shooting above $60/oz for the first time in history, Andy Schectman, CEO of Miles Franklin, is kindly offering an exclusive discount to the Thoughtful Money audience:
While supplies last, he’s willing to sell us junk silver at $1 *below* spot.
If you’d like to take him up on this offer, or talk with him & his staff about any other questions/needs you have regarding buying or storing precious metals, just click on the button below and fill out the short form:
I’m so grateful to everyone who has kindly supported me by becoming a premium subscriber to this Substack. It makes an important difference in helping me fund the substantial operating costs of running Thoughtful Money.
Premium supporters receive my “Adam’s Notes” summaries to the interviews I do, the wildly-popular MacroPass™ rotation of reports from esteemed experts, VIP discounts, plus periodic advance-viewing/exclusive content. My Adam’s Notes for this discussion with Matt are available to them below.
If you, too, would like to become a premium subscriber to this Substack (it’s only $0.52/day), then sign up now below:
Adam’s Notes: Matt Taibbi (recorded 12.22.25)
EXECUTIVE SUMMARY:
Matt Taibbi discusses the financial system’s failure to learn from the Global Financial Crisis (GFC), noting persistent bubble-like behaviors in areas like AI investments and a worsening casino-like atmosphere on Wall Street, exacerbated by post-COVID monetary floods.
He attributes the West’s flirtation with socialism to economic frustrations among the lower majority, particularly young people facing a K-shaped economy, lack of opportunities, and cultural shifts amplified by social media and poor education.
Drawing from his time in the USSR, Taibbi warns of
