June 21, 2016—On this episode of The Libertarian Angle, Jacob Hornberger and Richard Ebeling of the Future of Freedom Foundation explain how the economy is driven by interest rates, specifically driven into the ground by the Federal Reserve’s manipulation of interest rates.
“The Federal Reserve, precisely by not leaving interest rates alone to be set by the market, created the financial crisis and the fiasco and downturn from which we’re still recovering,” Ebeling said.
“You know, the one sector of the economy, besides the government of course, that had no unemployment?” Ebeling asked, answering his own question: “The banks! From the CEO to the teller, not a person lost their job. Why? Because they were saved from their dirty work with the people who had fostered it in government. Talk about a government-business partnership, OK? And there was no unemployment, because they were bailed out by their partners in crime.”