Ep. 5461 – Mike Swanson on the Fragile and Distorted American Economy – 2/17/2021

Scott talks to Mike Swanson about some of the problems in the U.S. economy and what we can expect in the near future. Scott points out the emerging real estate booms in places like Austin, Texas, as wealthy residents of states with severe lockdowns seek relief in states with less strict policies. These price spikes represent real demand, no doubt, but they come at the expense of local residents who can no longer afford to live in their home cities. Swanson adds that the real unemployment levels are much higher than official figures indicate, thanks to people who have been out of work so long they’re no longer actively looking for jobs. Historically, he says, this level of unemployment has led to social turmoil in the form of strikes, protests and even riots. He wonders to what degree the unrest seen over the summer and at the U.S. Capitol last month are related to the economic hardship that Americans have been facing for 11 months now. Unfortunately, explains Swanson, all the tools that the government has for addressing problems like unemployment and inflation only lead to even worse problems. Whatever form the eventual devastation takes, Americans must be prepared for more instability and hardship.

Check out the interview page here: https://libertarianinstitute.org/scotthortonshow/2-17-21-mike-swanson-on-the-fragile-and-distorted-american-economy/

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