Episode
Jon Talks to Thomas Hoenig: Our Economy Is a Delusion
48:53
Published: Thu Jan 20 2022
Description
You've probably heard that inflation is getting worse—and not just from your grandpa who remembers when soda cost a nickel and movies were movies. Jon talks with Thomas Hoenig, former president and CEO of the Federal Reserve Bank of Kansas City, about how the Fed has destroyed everything we hold dear. Jon is joined by staff writers Alexa Loftus and Kasaun Wilson to discuss the news of the week, including Rand Paul’s TV subscriptions and the gymnastic abilities of skunks.CREDITSHosted by: Jon StewartFeaturing, in order of appearance: Alexa Loftus, Kasaun Wilson, Thomas Hoenig, Tocarra MallardExecutive Produced by Jon Stewart, Brinda Adhikari, James Dixon, Chris McShane, and Richard Plepler.Lead Producer: Sophie EricksonProducers: Caity Gray, Robby SlowikAssoc. Producer: Andrea BetanzosSound Designer & Audio Engineer: Miguel CarrascalSenior Digital Producer: Kwame OpamDigital Coordinator: Norma HernandezSupervising Producer: Lorrie BaranekHead Writer: Chelsea DevantezElements: Kenneth Hull, Daniella PhilipsonTalent: Brittany Mehmedovic, Haley DenzakResearch: Susan Helvenston, Andy Crystal, Deniz Çam, Harjyot Ron SinghTheme Music by: Gary Clark Jr.The Problem With Jon Stewart podcast is an Apple TV+ podcast, produced by Busboy Productions.https://apple.co/-JonStewart
Chapters
The speaker expresses their hope that the pandemic is almost over, likening it to a reality TV show's never-ending seasons.
00:00 - 00:42 (00:42)
Summary
The speaker expresses their hope that the pandemic is almost over, likening it to a reality TV show's never-ending seasons.
EpisodeJon Talks to Thomas Hoenig: Our Economy Is a Delusion
PodcastThe Problem With Jon Stewart
Summary
I'm not gonna lie.
EpisodeJon Talks to Thomas Hoenig: Our Economy Is a Delusion
PodcastThe Problem With Jon Stewart
Summary
I'm not gonna lie.
EpisodeJon Talks to Thomas Hoenig: Our Economy Is a Delusion
PodcastThe Problem With Jon Stewart
The speaker expresses unease about Quantitative Easing, a practice where the Federal Reserve System prints and pumps a ton of money into the economy to keep interest rates low.
08:04 - 16:59 (08:54)
Summary
The speaker expresses unease about Quantitative Easing, a practice where the Federal Reserve System prints and pumps a ton of money into the economy to keep interest rates low.
EpisodeJon Talks to Thomas Hoenig: Our Economy Is a Delusion
PodcastThe Problem With Jon Stewart
Central bank support during a crisis can free up liquidity and maintain corporate accounts and jobs, but can also lead to asset inflation, which benefits those who hold assets over those receiving income.
16:59 - 24:00 (07:01)
Summary
Central bank support during a crisis can free up liquidity and maintain corporate accounts and jobs, but can also lead to asset inflation, which benefits those who hold assets over those receiving income. Violating the principle of providing liquidity occurs when the central bank or government provides necessary funds for survival.
EpisodeJon Talks to Thomas Hoenig: Our Economy Is a Delusion
PodcastThe Problem With Jon Stewart
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.
24:00 - 28:11 (04:10)
Summary
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.
EpisodeJon Talks to Thomas Hoenig: Our Economy Is a Delusion
PodcastThe Problem With Jon Stewart
Printing money to stimulate the economy may seem like a solution for debt, but it can lead to further issues by increasing liabilities of the Federal Reserve System, hindering companies' ability to invest in new products, and making it impossible to stop paying off global debts.
28:11 - 32:36 (04:24)
Summary
Printing money to stimulate the economy may seem like a solution for debt, but it can lead to further issues by increasing liabilities of the Federal Reserve System, hindering companies' ability to invest in new products, and making it impossible to stop paying off global debts.
EpisodeJon Talks to Thomas Hoenig: Our Economy Is a Delusion
PodcastThe Problem With Jon Stewart
The interviewee expresses concern about the current state of the economy and the danger of creating bubbles by injecting too much money into it.
32:36 - 40:42 (08:06)
Summary
The interviewee expresses concern about the current state of the economy and the danger of creating bubbles by injecting too much money into it. They stress the importance of informing the public about the impending difficulty, including the rise of interest rates and identifying a plan to overcome it.
EpisodeJon Talks to Thomas Hoenig: Our Economy Is a Delusion
PodcastThe Problem With Jon Stewart
The combination of expertise and passion is essential in addressing problems.
40:42 - 44:25 (03:42)
Summary
The combination of expertise and passion is essential in addressing problems. Often the realization of the gravity of a situation is only possible through guidance from experts.
EpisodeJon Talks to Thomas Hoenig: Our Economy Is a Delusion
PodcastThe Problem With Jon Stewart
The podcast episode touches on rising prices of products and the negative effects of unhealthy diets.
44:25 - 47:38 (03:13)
Summary
The podcast episode touches on rising prices of products and the negative effects of unhealthy diets.
EpisodeJon Talks to Thomas Hoenig: Our Economy Is a Delusion
PodcastThe Problem With Jon Stewart
The hosts thank their guests and remind the listeners to check out their website and Apple TV Plus show.
47:38 - 48:29 (00:51)
Summary
The hosts thank their guests and remind the listeners to check out their website and Apple TV Plus show.