Aug 20, 2022 • 1HR 14M

Recession or Recovery?

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Appears in this episode

Ralph Nader
Ralph Nader talks about what’s happening in America, what’s happening around the world, and most importantly what’s happening underneath it all.
Episode details

In a packed program, Ralph first speaks to our resident constitutional scholar, Bruce Fein, about the latest Trump-anigans from Mar a Lago, then Washington Post business reporter, Allan Sloan, joins to talk about the Federal Reserve and answers the question of  whether we are headed for an economic recession or a recovery. And finally, Steve Silberstein of National Popular Vote comes by to update us on their latest efforts to ensure that the candidate for president who wins the popular vote actually wins the election.

Bruce Fein is a Constitutional scholar and an expert on international law.  Mr. Fein was Associate Deputy Attorney General under Ronald Reagan and he is the author of Constitutional Peril: The Life and Death Struggle for Our Constitution and Democracy, and American Empire: Before the Fall.

[The recent search at Mar-a-Lago is] a material step forward. It reinforces the conviction that [Trump] is a pathological liar…Why is that important? Because in a case of investigating the crimes that have been alleged against him, his corrupt intent is very critical.  And this reinforces what I think is overwhelming evidence that he has a corrupt motive behind virtually everything that he does and says.

Bruce Fein, Constitutional scholar

Allan Sloan is a business columnist at the Washington Post. He has been writing about business for over 50 years, including work at ProPublica, the Detroit Free Press, and Forbes. He has won seven Loeb Awards, business journalism’s highest honor, in four different categories (including a lifetime achievement award).

My bet is recovery… I don’t think we’re in a recession. I don’t think we’re heading for one.

Allan Sloan, business columnist at the Washington Post

The Fed in many ways is a paper tiger (or a financial tiger) because the only thing it really has is interest rates… The Fed isn’t all powerful and almighty. It can’t fix people’s student loans. If you want that fixed go ask Biden and his crew, to abolish them or reset the interest rates.

Allan Sloan, business columnist at the Washington Post

I’ve always thought that giving the Fed credit for the good things and blame for all the bad things was sort of childish. Because when you’re writing stories, and you’re writing them every day, every action has to have a reason. And there are a lot of times when there is no reason— stuff is going up because it’s going up, it’s going down because it’s going down. But nobody wants to hear this. Everybody wants a rational reason for everything.

Allan Sloan, business columnist at the Washington Post

A key question that the official-source journalists covering the Fed haven’t seemed to ask Chairman Powell or other members of the Board [of the Fed] is that, for decades, business has been perfectly adapted to invest when interest rates were 5% 4% 3% 2%. So why did [Powell] have to go all the way down to near zero?… and drive 150 million savers into penury?

Ralph Nader

Stephen M. Silberstein founded and served as the first President of Innovative Interfaces Inc., a leading supplier of computer software for the automation of college and city libraries. Mr. Silberstein sold his interest in the company in 2001 and now devotes his time to philanthropic and civic matters, one of which is sitting on the Board of Directors of National Popular Vote.

I remind people that the major consequence [of a National Popular Vote] —besides the winner winning—is that we will have a national campaign. The presidential candidates and the Presidency will pay attention to every state, every voter will be looked at and sought after and talked to, as opposed to the present system where 80% of the country is just spectators and wondering “What the hell is going on in Wisconsin and Michigan?”

Steve Silberstein, National Popular Vote

[The National Popular Vote] seems to be a real grassroots invitation, and listeners would be well advised to look at recent history and see what we got from repudiating the popular vote.

Ralph Nader

Ralph Nader Radio Hour Ep 441 Transcript
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