Mohamed El-Erian: America Is Exporting Its Debt Crisis from One Decision

Mohamed El-Erian: America Is Exporting Its Debt Crisis

54 minutes Posted Oct 1, 2026 at 2:00 pm.

) Intro

) Why this crisis is different

) Permacrisis and "minilateralism"

) What's driving the global bond sell-off

) The hit to US households: mortgages, car loans, the K-shaped economy

) "Our yields, your problem": UK, France and Japan

) France, Mélenchon and Europe's leadership vacuum

) AI: 80% asset, 20% liability

) US-China AI Race

) Did PIMCO predict Lehman Brothers collapse?

) Who wins in today’s economy?

) Can finance ministers fix what politicians can't?

) How important are AI companies to the economy?

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Show notes

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:

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Hosted by Sir Richard Dearlove (former MI6 Chief) and John Raine (International Institute for Strategic Studies).

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