The MoneyMagpie Invest Podcast returns with a deep dive into UK stagnation, US stock market bubbles, the FTSE 100 vs S&P 500 debate, inflation, and what investors should actually do in 2025. In this episode, Jasmine Birtles sits down with John Butler - former managing director and
investment strategist at Lehman Brothers and Deutsche Bank, and writer of the Amphora Substack - to break down what's really happening beneath the headlines. We explore why the UK economy is stagnating, how per-capita income has been falling for years, why taxation and regulation are choking growth, and why the FTSE 100 remains undervalued despite global turmoil. John also explains how the S&P 500 has become dangerously concentrated in the Magnificent Seven, why US markets are inflating a
“bubble within a bubble,” and what history tells us about stock market mania, yield-curve warnings, and credit market stress. Most importantly, we discuss what investors should actually do: how to build a defensive portfolio, which sectors hold up in inflation, where genuine income comes from, and why sitting in cash is a guaranteed way to lose value as fiat currency erodes.
