The State Of Creditism in 2026
Posted January 29, 2026
For decades, the global economy has operated under an economic system that I’ve described as Creditism — a system that stabilized Capitalism by expanding credit, suppressing volatility, and postponing crisis.
That system delivered extraordinary growth and financial stability for many years. But it did so by stretching its constraints rather than eliminating them.
Today, those constraints are no longer in the background.
In my new Macro Watch video, The State of Creditism in 2026, I step back and assess where this system now stands — not in theory, but in practice. The focus is not on day-to-day market noise, but on the deeper forces shaping policy decisions, political outcomes, and financial markets in real time.
A key lesson from history is that economic systems do not fail because a new ideology becomes fashionable. They change when the constraints that once allowed them to function no longer hold.
That is where Creditism now finds itself.
In this presentation, I explain why the constraints facing Creditism are no longer primarily financial — and why political consent, social cohesion, geopolitical rivalry, real resources, and credibility have become binding in ways they were not before.
I also explore how these pressures are already reshaping globalization, trade policy, industrial policy, and the role of the state — and why this matters for investors trying to understand market risk in the years ahead.
This is not an argument that Creditism is collapsing.
It is an argument that Creditism is being re-engineered — and that this re-engineering carries consequences that markets are only beginning to price in.
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This is the 12th video in the Creditism 101 series. To see a list of all the videos in this series, CLICK HERE and scroll down a bit. You will find them all there.
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