Ep. 5440 – Bob Murphy on the Disastrous Consequences of the Covid Policies – 1/7/2021

Scott talks to Bob Murphy about the economic side of all the covid policies this past year. Most obvious are the huge spending bills, which dwarf even the stimulus measures taken after the 2008 recession. Murphy reminds us that this kind of rampant spending really means the federal reserve and the treasury have “created” new money out of thin air. This money enters through the financial sector, slowly making its way through the rest of the economy, where it can cause price inflation, stagnating wages and the loss of the value of savings. But it allows the federal government to spread out the harmful effects of its policies in a way that wouldn’t be possible if it were to raise taxes or borrow the money all at once. Murphy also talks about the way that small businesses have been devastated by lockdown policies, while large corporations have absorbed the losses more easily. These large corporations will survive when the small businesses close, buying up their assets and moving in on what used to be their business. This is yet another way that huge government action benefits big business and the politically connected at the expense of the average business owner, employee or taxpayer.

Check out the interview page here: https://libertarianinstitute.org/scotthortonshow/1-7-21-bob-murphy-on-the-disastrous-consequences-of-the-governments-covid-policies/

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