Chapter
The Misconceptions of Zero Interest Rates
24:00 - 28:11 (04:10)
The belief that zero interest rates will keep the economy going strongly is misguided, as the government's funds provided to those who lost their jobs due to the pandemic was the true source of purchasing power. However, the Fed and government both refuse to allow increasing interest rates.
Clips
The government provided funds to those who lost their jobs due to the pandemic while also giving more than the unemployment benefit, resulting in increased borrowing.
24:00 - 26:12 (02:11)
Summary
The government provided funds to those who lost their jobs due to the pandemic while also giving more than the unemployment benefit, resulting in increased borrowing. This has led to a need for low-interest rates, which the government and the Fed have been trying to maintain.
ChapterThe Misconceptions of Zero Interest Rates
EpisodeJon Talks to Thomas Hoenig: Our Economy Is a Delusion
PodcastThe Problem With Jon Stewart
The U.S. is facing troubling levels of debt that have only increased during the pandemic and risk causing significant harm to the economy.
26:12 - 28:11 (01:59)
Summary
The U.S. is facing troubling levels of debt that have only increased during the pandemic and risk causing significant harm to the economy. In order to address these issues, excess money must be pulled back and interest rates raised, but this will come with challenges.