As part of Antiwar Radio’s week long series on the economic crisis in association with Ron Paul’s Campaign for Liberty, Austrian School economists Robert Murphy and Mark Thornton discuss the financial crisis, the reasons why the alleged solutions will not only fail but make the situation worse, the naive mistake of trusting politicians to regulate the banks, how Fed-chief Bernanke claimed in 2005 that the mortgage industry was solid, the mystery of why Tresury Secretary Paulson’s former company Goldman-Sachs is one of the few survivors of this crisis, the question of whether this is fascism or socialism, the global scramble to dump the dollar, the pending dollar collapse when central banks start dumping American debt, the farce of the Republican “free-market” and the basic premises of the Austrian theory of the business cycle.
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