Boom Bust Season 2 Episode 29 Paul Craig Roberts On the Revolving Door in Washington and Martenson On the Collapse in Oil Prices

In this episode of Boom Bust, we hear from two expert guests on the state of the US economy. First, former Reagan administration official Paul Craig Roberts speaks about the revolving door in Washington and how it is contributing to the current economic crisis. He argues that the people who are supposed to regulate the economy are often the same people who work for the banks and corporations that they are supposed to be overseeing. This conflict of interest has led to a system that works in favor of Wall Street at the expense of Main Street.

Next, financial analyst Chris Martenson discusses the collapse in oil prices and what it means for the global economy. He explains that the recent drop in oil prices is not just due to a temporary oversupply but is part of a longer-term trend of declining energy return on investment. This means that it is becoming increasingly expensive to extract oil and gas, and the cost of production is outpacing the ability of the global economy to pay for it. Martenson argues that this could lead to a major economic crash in the near future.

Both of these guests provide important insights into the structural problems facing the US economy and the global economy as a whole. They argue that the current system is unsustainable and that significant changes are needed to ensure a more equitable and sustainable future. This is a must-watch episode for anyone interested in the state of the economy and the forces driving economic change in the 21st century.