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Deep Dive with zaffar

Deep Dive with zaffar

Written by: Zaffar Maqbool
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WelcomeZaffar Maqbool Economics
Episodes
  • Why the AI Revolution Is Being Built on Debt
    Dec 29 2025

    The AI revolution is often framed as a story of innovation, efficiency, and exponential growth. But behind the rapid deployment of artificial intelligence lies a less discussed reality: a surge in corporate borrowing. In this video, we examine why companies are taking on record levels of debt to fund AI infrastructure, data centers, and computing power, and how this debt-driven expansion is reshaping financial risk across markets. Using research, financial data, and historical parallels, this analysis explains how leverage, capital incentives, and competitive pressure are quietly becoming the foundation of the AI economy. All sources and references used for this analysis are listed down below.Mellon Investment Advisors. "Record-Breaking AI-Related Debt Issuance in 2025." https://www.mellon.com/insights/insights-articles/record-breaking-ai-related-debt-issuance-in-2025.htmlNVIDIA." November 17, 2025. https://www.moomoo.com/community/feed/nvidia-nvda-us-115568235577350
    Brandywine Global. "Brave New World of AI Capex: Giving Credit Where Credit is Due." December 9, 2025. https://www.brandywineglobal.com/around-the-curve/2025/brave-new-world-of-ai-capex-giving-credit-where-credit-is-dueFortune. "Meta's $27 billion bet turns AI compute into Wall Street's hottest new investment." October 31, 2025. https://fortune.com/2025/10/31/metas-27-billion-bet-turns-ai-compute-into-wall-streets-hottest-new-investment/Economic Times. "Adani Group's debt-to-EBITDA hits 2.46x in H1 FY25..." November 25, 2024. https://economictimes.com/markets/stocks/news/adani-groups-debt-to-ebitda-hits-2-46x-in-h1-fy25/
    S&P Global Ratings. "Credit Trends: Global Refinancing: Maturity Wall Looms Higher For Speculative-Grade Debt." February 4, 2024. https://www.spglobal.com/ratings/en/research/articles/240205-credit-trends-global-refinancing-maturity-wall-looms-higher-for-speWall Street Journal. "Refinancing Needs Drop, But an Advancing 'Maturity Wall' Heightens Risk." October 15, 2025. https://www.wsj.com/articles/refinancing-needs-drop-but-an-advancing-maturity-wall-heightens-risk-c8e3013bS&P Global Ratings. "Global Refinancing: Pressures Linger For The Lowest Rated Credits." November 29, 2025. https://www.spglobal.com/ratings/en/regulatory/article/global-refinancing-pressures-linger-for-the-lowest-rated-credit-s10165346

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    41 mins
  • How past empires collapsed due to administrative overload, not invasion
    Dec 27 2025

    Empires are often remembered as falling because of invasions, wars, or external enemies, but history shows a different pattern. In this video, we examine how some of the most powerful empires collapsed due to administrative overload, internal complexity, and institutional breakdown rather than direct military defeat. By analyzing historical evidence, governance structures, and economic pressures, this case study explains how growing bureaucracy, inefficiency, and coordination failures slowly weakened empires from within. This is a research-based breakdown focused on systems, incentives, and long-term structural failure, not storytelling or mythology. All sources and references used for this analysis are listed down below.https://www.science.org/content/blog-post/collapse-complexityhttps://rword.substack.com/p/the-collapse-of-complex-societieshttps://polycrisis.org/resource/the-collapse-of-complex-societies/https://mcalvany.com/weekly-commentary/dr-joseph-tainter-the-collapse-of-complex-societies/https://www.resilience.org/stories/2023-06-07/the-collapse-of-complex-societies/https://en.wikipedia.org/wiki/Elite_overproductionhttps://peterturchin.com/elite-overproduction-brings-disorder/https://www.compactmag.com/article/peter-turchin-s-false-prophecy/https://en.wikipedia.org/wiki/Diocletianhttps://www.econlib.org/diocletian-the-roman-empire-and-forever-failing-price-controls/https://en.wikipedia.org/wiki/Roman_currencyhttps://www.linkedin.com/pulse/roman-currency-debasement-brief-history-von-woodinghttps://europe.factsanddetails.com/article/entry-363.htmlhttps://en.wikipedia.org/wiki/Maya_civilizationhttps://student-journals.ucl.ac.uk/pia/article/id/496/https://www.americanscientist.org/article/climate-and-the-collapse-of-maya-civilizationhttps://core.ac.uk/download/pdf/61628109.pdfhttps://www.jsr.org/hs/index.php/path/article/download/3367/1406/24369https://en.wikipedia.org/wiki/Grand_Secretariathttps://en.wikipedia.org/wiki/Government_of_the_Ming_dynastyhttps://users.wfu.edu/cottrell/socialism_book/soviet_planning.pdfhttps://ehes.org/wp/EHES_No57.pdfhttps://www.britannica.com/story/why-did-the-soviet-union-collapsehttps://papers.ssrn.com/sol3/papers.cfm?abstract_id=4840789https://digitaldefynd.com/IQ/ceo-managing-organizational-debt/https://penanginstitute.org/publications/south-wing-papers/making-big-bloated-and-bureaucratic-modern-governments-catalytic-capable-and-consistent-instead/

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    45 mins
  • Why indian starts fail
    Dec 25 2025
    30 mins
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