Robert P. Murphy, author of The Politically Incorrect Guide to Capitalism, discusses his article “Who Needs War for Oil;” why the US military doesn’t need to intervene in the Middle East to “secure” supplies of oil; how embargoes hurt oil exporting countries more than their customers (shown by the US-supported embargo on Iran); and the contrarian theory that oil scarcity and higher prices are the true US policy goals.
Robert P. Murphy discusses the standard arguments against the gold standard, many of which were used by Fed Chairman Ben Bernanke during his speech at George Washington University, how paper fiat money begets big government; why the Fed will continue doubling down, using the same failed strategy until their luck turns around or the dollar breaks; and why the “end game” crash may be an intentional transition to a single global currency.
Robert P. Murphy, author of The Politically Incorrect Guide to Capitalism, discusses his article “The Economics of War;” how open markets and free trade make expansionist states and war unnecessary; a cost/benefit analysis of empire and “war for oil;” and the $15 trillion US debt (a trillion here, a trillion there, and soon you’re talking real money).
Robert P. Murphy discusses the “boom and bust” business cycle and what exacerbates it; why the Federal Reserve – with a primary mandate of ensuring price stability – is a demonstrable failure; how Ron Paul popularized the Austrian school of economics and removed the aura of infallibility from Fed chairmen Alan Greenspan and Ben Bernanke; why we shouldn’t focus solely on the Fed – lest we forget the pernicious roles of big banks and insurance companies; whether Bernanke is an academic doggedly pursuing failed theory or a banker stooge who knows better; and the virtues of the movie “Inside Job.”
Robert P. Murphy, senior fellow at the Ludwig von Mises Institute,
discusses the skirting the US debt ceiling, which can continue for a few
more months, the GOP’s current pretensions of fiscal restraint, why a
failure to raise the ceiling doesn’t mean default is impending since
spending could be cut or govt. assets sold, how missed payments to bond
holders would bring a big increase in interest rates, as in greece;
debt/gdp ratios and economic death spirals, and the Republicans who
converted to free market radicals – at least rhetorically – when Obama
Today on Antiwar radio with Scott Horton:
Pepe Escobar will be on to discuss his latest piece “If the US Doesn’t Pull Every Soldier from Iraq at Midnight, Dec. 31, 2011, Expect Serious Trouble.”
Bio: Pepe Escobar is a journalist based in Sao Paulo, Brazil. He writes a column entitled The Roving Eye for Asia Times Online and is analyst and correspondent for The Real News Network.
Rep. Aaron Libby (R) will be on to discuss his new bill (LD 1305) An Act To Limit the Use of the National Guard to Situations Specifically Authorized by the United States Constitution, introduced in the Maine House of Representatives.
For additional background:
- See the bill here
- Read a summary of the bill here
Bio: Aaron Libby is the State Representative of House District 139, which includes Waterboro and part of Lyman. He serves on the Energy, Utilities and Technology Committee during the 125th Legislature.
Ali Gharib will be on to discuss AIPAC. Read his latest here.
Bio: Ali Gharib is a freelance writer based in Brooklyn, NY. He’s a regular contributor to the LobeLog
Bob Murphy will be on to discuss the economy
Bio: Robert P. Murphy is an adjunct scholar of the Mises Institute, where he teaches at the Mises Academy.He runs the blog Free Advice and is the author of The Politically Incorrect Guide to Capitalism, theStudy Guide to Man, Economy, and State with Power and Market, the Human Action Study Guide,The Politically Incorrect Guide to the Great Depression and the New Deal, and his newest book,Lessons for the Young Economist.
See his blog here: http://consultingbyrpm.com/blog
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Listen to past shows here:
Robert P. Murphy, author of The Politically Incorrect Guide to Capitalism, discusses why the old adage “war is good for the economy” is simply not true; the hidden costs in “trickle down” benefits from large government and military expenditures (like the highway system and communications infrastructure); the Obama administration’s inconsistent policy on large government deficits; and how US money creation prompts other countries to follow suit, debasing currencies around the world and leading to speculative bubbles.