Alex welcomes long-time returning guest, economist, and contributing writer Paul Craig Roberts to discuss the assault on gun rights in the aftermath of the Colorado shooting, the West’s unsuccessful efforts to muster support for Syrian intervention, and the impact the recent Libor scandal will have on world markets.
The chances are good that if you ask someone on the street what LIBOR is, they would guess it to be an obscure country in Africa. The reality, of course, is that LIBOR is something that affects everyone, to the extent that it “sets” the interest rate you’ll be paying for your mortgage, car loan, credit cards, and the rate of return you’ll receive on your pension, 401K, savings and all financial instruments. In total, it establishes the pricing of financial products across the world to the tune of up to $800 trillion. Trillion.