Carlos and Bob tackle a recent "note" from a brokerage firm making just that case. Among other problems, the analysis misunderstands the role of the stock market.Mentioned in this episode: Bloomberg article explaining the note Murphy explains the social function of stock speculators How Privatized Banking Really Works, Chapter 4 (PDF) Samples from the Lara-Murphy Report Order Carlos and Bob's book, HOW PRIVATIZED BANKING REALLY WORKS

Episode 24: Is Passive Investing Worse Than Marxism?

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Bob and Carlos discuss a recent Mercatus Policy Brief that documents how rising interest rates have caused the Fed to lose a trillion dollars in the value of its assets, and is now technically insolvent. Does it matter?

Episode 89: The Fed Just Lost a Trillion Dollars--Should We Care?

Prompted by an email, Bob and Carlos acknowledge that yes, things look pretty bleak right now, both financially and culturally. But there is still cause for hope. The worst thing to do right now would be to give up.

Episode 88: Is the United States Hopeless at This Point?

Bob and Carlos discuss the oddities in the official numbers, which show low unemployment but also low labor participation, and how the statistics don't match their personal observations.

Episode 87: Is the US in a Recession or Not? Making Sense of the Numbers

Bob and Carlos discuss a recent article in The Hill, which explains that rising interest rates have rendered the Fed technically insolvent.

Episode 86: The Fed Is Officially Bankrupt--Should We Care?

Bob asks Carlos to recount his own financial struggles as a young businessman in the late 1970s, when price inflation and interest rates skyrocketed. This painful episode ultimately led Carlos to discover Austrian economics.

Episode 24: Is Passive Investing Worse Than Marxism?

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