6/6/20 David Stockman on America’s Fake Money Pandemic

by | Jun 5, 2020

Scott talks to David Stockman about his latest article on the economic fallout from the coronavirus lockdowns. Stockman begins by pointing out a startling fact: though the stock market has now returned to all-time highs, the American job numbers are back down to where they were in the year 2000. This economic bloodbath, he insists, is not the effect of the virus at all—it is simply the result of a forced shutdown that never needed to happen. Why, then, are financial markets doing so well? Only because the Federal Reserve has printed nearly $3 trillion in new money in under three months, says Stockman, which they’ve used to directly monetize debt. As usual, this kind of heavy-handed intervention in the economy can delay the inevitable crash for a little while, but it is sure to make it more painful when it eventually comes around.

David Stockman is the ultimate Washington insider turned iconoclast. He began his career in Washington as a young man and quickly rose through the ranks of the Republican Party to become the Director of the Office of Management and Budget under President Ronald Reagan. After leaving the White House, Stockman had a 20-year career on Wall Street. He is the author of Trumped!, The Triumph of Politics, and his history of the financial crisis, The Great Deformation: The Corruption of Capitalism in America.

This episode of the Scott Horton Show is sponsored by: NoDev NoOps NoIT, by Hussein Badakhchani; The War State, by Mike Swanson; WallStreetWindow.com; Tom Woods’ Liberty Classroom; ExpandDesigns.com/Scott; Listen and Think Audio; TheBumperSticker.com; and LibertyStickers.com.

Donate to the show through Patreon, PayPal, or Bitcoin: 1KGye7S3pk7XXJT6TzrbFephGDbdhYznTa.

About Scott Horton

Scott Horton is director of the Libertarian Institute, editorial director of Antiwar.com, host of Antiwar Radio on Pacifica, 90.7 FM KPFK in Los Angeles, California and podcasts the Scott Horton Show from ScottHorton.org. He’s the author of the 2017 book, Fool’s Errand: Time to End the War in Afghanistan and editor of The Great Ron Paul: The Scott Horton Show Interviews 2004–2019. He’s conducted more than 5,000 interviews since 2003. Scott lives in Austin, Texas with his wife, investigative reporter Larisa Alexandrovna Horton. He is a fan of, but no relation to the lawyer from Harper’s. Scott’s Twitter, YouTube, Patreon.

Related Articles

Related

7/3/20 Ron Enzweiler on the Russian Bounties Hoax

7/3/20 Ron Enzweiler on the Russian Bounties Hoax

Ron Enzweiler exposes some of the falsehoods behind the developing story about supposed Russian bounties on American soldiers in Afghanistan. For one thing, outlets like the New York Times have implied that there is consensus among America's intelligence agencies on...

read more

Pin It on Pinterest

Share This