Unraveling the Federal Reserve, Inflation, and Monopolies: Insights with Mike Holly

Unraveling the Federal Reserve, Inflation, and Monopolies: Insights with Mike Holly

In this episode of "The Rational Egoist," your host Michael Leibowitz engages in a thought-provoking conversation with expert guest Mike Holly. Mike, armed with Masters degrees in Business Administration and Chemical Engineering, shares his profound knowledge on the Federal Reserve, inflation, the boom/bust cycle, and monopolies.

Delving into the history and purpose of the Federal Reserve, Mike challenges the notion that it effectively controls the supply of money to mitigate economic booms and busts. Exploring the consequences of low interest rates and speculative buying, he unveils the creation of economic bubbles and the subsequent hardships faced by individuals and businesses when these bubbles burst.

Moreover, Mike reveals his perspective on monopolies, asserting that they are primarily a result of government regulations. He argues that dismantling monopolies requires a comprehensive approach of eliminating the government policies that facilitated their emergence, rather than relying on inadequate antitrust measures.

Mike sheds light on the influence of patterns, zoning, licensing, and subsidies in sectors such as technology, banking, housing, healthcare, and education, all of which contribute to monopolistic practices.

Throughout the conversation, Mike exposes the deceptive nature of these regulations, suggesting that they are often disguised as consumer protection measures.

In reality, he contends, they serve the interests of businesses and stifle competition. He explores the concept of regulatory capture, where companies gain influence over government agencies meant to oversee them, ultimately using the power of the state to erect barriers against new competitors.Addressing the topic of inflation, Mike illuminates the artificial nature of its creation. He discusses the interplay between monetary expansion, supply restrictions, and the consequences of quantitative easing and government spending on the economy.

Mike shares his insights on the potential indicators of an upcoming recession, including stock market crashes and their subsequent impact.

Michael Leibowitz is a renowned philosopher, political activist, and the esteemed host of the Rational Egoist podcast. With a profound admiration for the philosopher Ayn Rand, Leibowitz passionately champions the principles of reason, rational self-interest, and individualism.

As a dedicated advocate, Leibowitz's influence extends beyond his podcasting endeavours. Engaging in lively political debates, he fearlessly advocates for the protection of individual rights and freedoms through compelling YouTube videos and insightful interviews.Leibowitz's own life narrative exemplifies the transformative power of Ayn Rand's writings. Despite enduring a challenging past that led to a 25-year prison sentence, he emerged from adversity by embracing the tenets of rational self-interest and moral philosophy put forth by Ayn Rand.

His personal journey has propelled him to become an influential figure in the libertarian and Objectivist communities, empowering others to embrace reason, individualism, and self-interest in their own lives.Beyond his philosophical and political pursuits, Leibowitz has co-authored the thought-provoking book, "Down the Rabbit Hole: How the Culture of Correction Encourages Crime." This groundbreaking work delves into the societal attitudes surrounding punishment and rehabilitation, shedding light on how misguided approaches have contributed to the rise of crime and recidivism.Leibowitz's expertise extends to the airwaves, as he is a regular guest on the esteemed Todd Feinburg show at WTIC.