Ryan McMaken of the Mises Institute joins Scott to discuss the ill effects central banking has on the country. McMaken wrote an article recently pointing out that the Federal Reserve, America’s central bank, is technically bankrupt. Scott has McMaken explains how that’s true and why the costs of a bankrupt Fed are felt by us all. Scott and McMaken also address some common points about inflation made by the left and examine what they get right and where they go wrong. The two also look at today’s economy to try and work out where we are in the boom-bust cycle.
Discussed on the show:
- “Why the Fed Is Bankrupt and Why That Means More Inflation” (Mises.org)
- What Has Government Done to Our Money?
- For a New Liberty: The Libertarian Manifesto
Ryan McMaken is a senior editor at the Mises Institute. He has degrees in economics and political science from the University of Colorado, and was the economist for the Colorado Division of Housing from 2009 to 2014. He is the author of Breaking Away: The Case of Secession, Radical Decentralization, and Smaller Polities and Commie Cowboys: The Bourgeoisie and the Nation-State in the Western Genre.
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