The Peter McCormack Show #150 - Curtis Yarvin - Can Democracy Survive AI and Debt?
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Feb 23, 2026 
Curtis Yarvin, political theorist and software entrepreneur known for sharp critiques of modern democracy, riffs on sovereignty, AI as an accelerator of change, and fiscal fragility from rising debt. He explores how institutions cope with technological disruption, the mechanics of regime stability, and possible paths societies take when governance cannot decisively adapt.
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Paper Wealth Is Hidden Liability
- Modern monetary expansion makes both debt and equity liabilities that dilute real purchasing power.
- Curtis Yarvin points out rising personal net worth and stock gains act like hidden government transfers to the rich, masking real inflationary dilution.
Hedonic CPI Lets Governments Skim Tech Gains
- CPI and hedonic adjustments let governments 'steal' technological dividends by measuring improved goods as deflation.
- Yarvin explains cars with more safety/features register as cheaper in CPI while services like healthcare keep rising, creating K-shaped impacts.
Exiting Paper Money Is A Coordination Game
- Exiting a diluting paper system is a coordination problem where everyone hunts the same hard assets.
- Yarvin examines gold and Bitcoin as exits and cites central bank (China) buying as a reflexive move that can reshape purchasing power.