Thomas E. Woods Jr., author of Meltdown: A Free-Market Look at Why the Stock Market Collapsed, the Economy Tanked, and Government Bailouts Will Make Things Worse, is rapidly becoming one of my favorite authors and economic historians.
Today we'll hear Tom's recent interview on the Financial Sense Newshour, in which he talks with host Jim Puplava about the true nature of our current economic crisis.
Tom Woods sees the crisis very differently from the media-driven consensus view of a panic fueled by "free market failures". Responding to calls for more government intervention to mend these supposed failures, Woods points out that the financial crisis is actually an outgrowth of past government interventions into the markets and economy.
Meltdown places particular emphasis on the artificially low interest rates and easy money policies created by the Federal Reserve under Alan Greenspan, and continued under current Fed chairman Ben Bernanke. Now as the crisis continues, the same people responsible for fostering the conditions that created this economic mess are somehow placed in charge of fixing the situation.
Hear Tom Woods and Jim Puplava discuss why the media slept through the buildup (and collapse) of this economic boom-bust cycle, and how people can better understand the root causes of our current economic troubles, as detailed in Meltdown.
Related articles and posts:
1. Tom Woods: Meltdown (interview) - Lew Rockwell Show.
2. Government intervention fuels the crisis - Finance Trends.
3. Thomas E. Woods: the 33 Questions - Mises via Finance Trends.Any source
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