Bob Murphy vs Dennis Kucinich on Fed and Oil Prices

[TheCapitalistdog]

Robert Murphy is the one of the greatest economists of our time!

[libertyeconomics]

Been a long time reader and fan of Dr. Bob Murphy!

[CloverfieldMonster95]

@evangrogers epic reply

[mouser98k]

Bob Murphy is the Econo-Man!! so when in Minerva II coming?

[PersianPaladin]

Google "anarcho-syndicalism". It's something we need to work to.

[evangrogers]

@PersianPaladin No thanks, I like being rewarded for hard work.

But I have no intention of stopping you if you want to do that to yourself.

[HeyItzMeDawg]

@PersianPaladin Funny, your comment reminded me of Monty Python.

[jpschubbs]

Murph is brilliant.

[KenMacMillan]

I think Jordan gets it.

[PNACATTACKdotCOM]

i think you should change your title -and take word: vs - away

I meant as you know this isn't competition... So you know... why to create stages 'fight' - when there isn't fight ;-)

[iHappyTimeTech]

Just wanted to say I applaud your honesty and integrity.. We need more economist like you to just some how reach out to the Domesticated heard of Americans, we haven't had a full scale, main stream economic debate in this country since 1890's !!!!!

[kingcherub]

This is exactly why it doesn't matter that Ron Paul can't win. He just moves the debates in such a way that, now, an anrcho-capitalist like Bob Murphy is testifying before congress. How cool is that?

[Downfurlife]

@kingcherub More details please... I am not following...... I agree with what Bob is saying. However, I know no history of him. He also dances the question of speculation. It is no longer a debate, it has not been for decades(since the 80) we have known this or that way the market artificially inflates costs. It was nothing short of fucking deceptive to dance around speculation - very capitalist of him?

[kingcherub]

@Downfurlife I'm gonna trust my instincts that tell me you're not just a troll. His argument is that the speculators are a result of the fed. That they are acting rationally by protecting themselves from the devaluation of their federal reserve treasury notes. He's not saying that oil prices would be just as high without the speculators he's just saying they are not the driving force. "...the market artificially inflates costs?" No, free markets should be the only thing that determines prices.

[Downfurlife]

@kingcherub I agree with the Fed. But over the last 8 months, hell even in the 80s we recognized 'market' corruption drove the price. 60-70% of those in the futures market do not desire physical control of the oil - they just desire profit. For the last 4 yrs since their involvement has exploded the market has hardly been calm.I'd suggest the decade or two prior it was much calmer. He was also presenting a very pro free market argument and to me the "free" market is very broken :(

[kingcherub]

@Downfurlife If you are really interested in hearing what real free market capitalism is. check out mises.org. The information there will be much better than I can explain.

[trekkerperson]

You absolutely rock, Bob!

[CurtHowland]

Thank you, Bob. I know it's very difficult to throw pearls before swine.

[NotTheLaw]

98 years! Jeez.

[LibertyDownUnder]

Great to see Bob getting the message out! Even if it's to a bunch of educated fools.

[selfrealizedexile]

Mr. Jordan seems to be one of the few congressmen who actually understands speculation.

It's really absurd how America has access to so much oil, but is being restrained, and currently has such high unemployment, many of which is blue collar unemployment at that!