A slew of financial crises that stretch all the way back to the banking Panic of 1907 have been exploited to justify erecting a financial regulatory system that has vastly centralized and expanded federal power over our money.
Is the Federal Reserve a godlike Zeus able to control our money and the economy, preserve financial stability and keep a lid on inflation?
Or is it like the Wizard of Oz? A little man behind the curtain pulling levers to create smoke and noise to terrify and control people, but in the end only one market participant among many worldwide.
If you’re a bond trader in New York, trying to predict minute day to day changes in interest rates, it’s more like Zeus. For the rest of us, I believe, it’s like Oz.
On this episode we’re talking with economist Steve Moore about his terrific new book Govzilla.
It’s a sobering, yet easy to read, tale of the gigantic expansion of government over the last 50 years, and especially over the last two years since COVID hit.
“The virus became an excuse to massively expand the powers of government,” says Steve, “the size of government, the regulatory reach of government, in ways that I think we would’ve found unimaginable a decade ago.”
The Reconciliation Bill, which Congress is rushing to pass in a matter of days, will push America over the brink into financial and social catastrophe. House Speaker Nancy Pelosi is hellbent on this as her legacy project to turn the U.S. into a European entitlement state.
In this Part 2 of my show with John Mauldin, we range far and wide peering into an optimistic future for humanity.
Near term, things look pretty bleak, but when you step back and look at the innovations and technologies that will end up enhancing and prolonging human life, the future holds a lot of promise. Billions of people have been lifted out of poverty in the past 50 years.
In this episode I’m joined by John Mauldin the best-selling author of Bull’s Eye Investing: Targeting Real Returns in a Smoke and Mirrors Market and whose “Strategic Investors Conference” is considered among the best events in the business.
My guest this week is economist Steve Moore
Our topic: the economy and how the trillion upon trillion dollar spending orgy in Washington is going to cause irreparable damage to America.
“This is an extremely dangerous time for our country. What happens over the course of the next three or four months will have decades worth of repercussions,” explains Steve.
What caused the stock to skyrocket? What does it say about the future of Wall Street? How will the regulators react? Those questions and more will be answered during this in-depth conversation.
A must see and wide ranging conversation about all things economic with Donald Boudreaux, best-selling author, professor of economics at George Mason University who writes the popular blog Cafe Hayek and John Tamny, editor of Real Clear Markets, an editor for Forbes Magazine and the author of “The End of Work” and “They’re Both Wrong.”
Cyber warfare is raging around the world, with China as the leading state actor. But unlike Russia, and unlike Iran, and unlike North Korea, China is deeply integrated into the US economy and many aspects of our national strength. This is one reason why Congress wanted to learn from my guest Klon Kitchen about the Chinese app TikTok.