Ravi Batra Talks About The Economic Meltdown (1/4)

A Chairman of the Federal Reserve cannot be "libertarian." Libertarians are opposed to govt intervention in the market and opposed to the very establishment of the Fed 100 years ago. Furthermore, the Fed policy of using credit to inflate the economy which is described here as the reason for the current crisis is the complete opposite of a libertarian policy. I guess the point here is that we haven't had the right kind of govt manipulation. That argument seems weak since it caused the problem.

pn2543 said...
"Truly, we never learn from history, and so we are now doomed to repeat it."
Truer words have never been spoke. As we speak, individuals are still attempting to re-inflate the real estate bubble. When will we learn?

Hey Thom, great interview! I always enjoy your interviews with Ravi Batra. It is really uncanny and unsettling how the preconditions for this Second Republican Great Depression have echoed exactly the preconditions for the First Republican Great Depression, even though pundits say it is all 'unprecedented' (lol). Truly, we never learn from history, and so we are now doomed to repeat it.

Probably nothing. But we certainly could use a significant cut in military spending.

i wonder what spending would be cut to pay for the tax credits?