Debt: The Boogieman that Never Goes Away

Will the FED Make Another Giant Mistake?

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Today on The Bubba Show, Dr. Bob Swarup from Camdor Global and the author of Money Mania: Panics, Booms and Busts are back for a visit. Dr. Bob, who is an economist, explains that most economists don’t understand debt and the business cycle, which is why they typically do so poorly on judging what to do next where the economy is concerned.

Bubba and Bob discuss the same old boogieman that never goes away, debt. Bob has stayed the course, asserting that the only way out of this problem will be to write down a big portion of the debt, which Bob believes they do not have the guts to do.

Interest rates are too low according to Dr. Bob and he sees the FED making another massive mistake, possibly at Wednesday’s FOMC meeting. Bubba and Bob talk about the political landscape, and Bob explains that politicians are worthless and will not be able to solve these problems because their only focus is to be reelected.

Cryptocurrencies are all the rage and while Dr. Bob favorably recognizes the Blockchain technology, he is not a big fan of the currencies themselves. He looks at them as a bubble and explains why he doesn’t believe they will work over the long run.