Edward Chancellor is a financial historian, journalist and investment strategist. He’s written a book called The Price Of Time: The Real Story Of Interest. Unaffordable housing, the collapse of productivity, rising inequality are just some of the things Chancellor points to as results of the low-interest era and, he argues, the worst is yet to come. Edward’s book: (https://www.penguin.co.uk/books/448594/the-price-of-time-by-chancellor-edward/978180206015) 🚀 6 steps to change your financial future - free guide Learn how to build wealth in the UK. Get our 6-part newsletter series: https://makingmoney.email/newsletter-series 🤝 Improve your finances with our adviser service - book free consultation: https://makingmoney.email/financial-advisors-video If you purchase a product or service using one of these links, we may receive a small commission from the seller. There will be no additional charge for you. Remember investments can fall and rise - and past performance is no guarantee of future results. Other fees may apply. Your money is at risk. 🎉Sponsors Vanta - Get your company secure and compliant, with $1k off: https://vanta.com/makingmoney Tide - Get 4.33% AER Variable for your business account: https://tide.co/offers/makingmoneyq1 MoneyWeek - Get 6 editions of quality financial journalism for free: https://moneyweek.com/makingmoney ✉️ Get a summary of this episode through our newsletter: Sign up: https://makingmoney.email/S5E6 Disclaimer: This is not financial advice. The reason it’s not financial advice is because it’s not tailored to you. We explain the principles of building wealth but if you want personalised advice, it’s worth speaking to a financial advisor. As with everything financial, please do your own research. We really encourage that because no one cares more about your money than you and if you learn the basics then it will change your life. Chapters: 00:00 - Intro 00:38 - The story of interest is the most important story in finance 03:42 - Why interest rates have been around for 5,000 years 10:40 - How low interest rates caused the housing crisis 16:23 - Vanta ad 17:05 - Do interest rates actually control inflation? 25:34 - How have low interest rates affected the UK economy? 32:06 - Why young people are the worst affected 38:29 - Is there such a thing as good inequality? 44:35 - Tide ad 45:26 - A bloated financial system 46:18 - How long will a crisis take to happen? 50:25 - Is he wrong? 53:43 - How a crisis will happen 57:23 - Is there a way to navigate out of the crisis? 01:00:21 - How will global index investors be affected? 01:11:47 - The property market is already crashing