Jeff Deist: Trump’s Grade So Far, Deep State vs The Real Government, Military Spending, Asset Bubbles

Wall St. For Main St., Released on 2/28/18

Jason Burack of Wall St for Main St interviewed returning guest, former Chief of Staff for Congressman Ron Paul and current President of the Mises Institute, Jeff Deist. Jeff also worked in the private sector as an attorney for private equity.

During this interview, Jason asks Jeff about President Trump’s first year in office and the positives and negatives Trump has done so far. Jason and Jeff discuss how the term “deep state” is now being mentioned many times a day pretty much everywhere on TV and on social media when in the past, Ron Paul was one of the only people to talk about it.

Jeff is also extremely worried about the current and future budget deficits President Trump is projecting for the US federal government. President Trump was promising an increase in military spending of $300 billion in the next few years only weeks ago but Trump recently said last week that he wanted to increase military spending by $700 billion quickly! YIKES!

Jason also asks Jeff about the claims that supply side economics creates deflation, why politicians, academic economics and central bankers hate deflation and what would the great Austrian School Economists like Mises and Rothbard think about Bitcoin?

To wrap up the interview, Jason asks Jeff if the Federal Reserve is trapped and can actually meaningfully reduce its balance sheet and why many modern Austrians were predicting hyperinflation so soon after QE programs started in 2009.

Did modern day Austrians misinterpret the writings of Mises and Rothbard who predicted massive amounts of monetary inflation would go into the capital markets (asset prices) first and NOT consumer prices first or were Austrians fooled by the seemingly countless rule changes that politicians, central bankers and bureaucrats have done since the 2008 financial crisis?

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