Scott is joined by Mark Thornton, Senior Fellow at the Mises Institute, to discuss an article he wrote recently on the current housing bubble. They begin by discussing the damage that unbacked government-managed paper money does to the United States and the world. They relate that back to our current economic situation where we are feeling the effects of the enormous monetary expansion the Fed unleashed in 2020. Next, they turn to housing where Thornton, who was an early observer of the housing bubble that crashed in 2007, explains how that bubble has evolved into what we have today. Lastly, they discuss the virtues of free trade and the problems with government-run “free trade blocs.”
Discussed on the show:
- “The Fed’s Latest Housing Bubble” (Mises.org)
- “Housing: Too Good to Be True” (Mises.org)
- “Biden’s Baby Formula Airlift Stunt Should Never Have Been Necessary” (Reason)
- Secrets of the Temple: How the Federal Reserve Runs the Country by William Greider
Mark Thornton is a senior fellow at the Mises Institute. His most recent book is The Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century. Follow him on Twitter @DrMarkThornton
This episode of the Scott Horton Show is sponsored by: The War State and Why The Vietnam War?, by Mike Swanson; Tom Woods’ Liberty Classroom; ExpandDesigns.com/Scott; EasyShip; Free Range Feeder; Thc Hemp Spot; Green Mill Supercritical; Bug-A-Salt and Listen and Think Audio.