that was jeffrey tucker the executive editor of laissez faire books. all right welcome to the daily deal margaret margaret how you are having me all right let's jump into our first story according to the washington post america is starting to really leverage itself that's the implication of new data out monday afternoon that shows that consumer credit cards auto loans student loans basically every form of debt other than mortgages is rising by leaps and bounds now according to the federal reserve monthly report consumer debt rose nineteen point six billion dollars and make an eight point three percent annual rate so if that rate continues to increase and sustain it what made extra two hundred thirty five billion dollars what do you what do you see this trend as maybe you know but i think that neil irwin article he is right unfortunately because we are a consumer driven economy i wish you weren't right unfortunately is you know that two hundred thirty five billion it's being pumped back into the u.s. economy of course it's debt but it means jobs are ver

it's brilliant. >> on that note, thank you jeffrey tucker and ben powell., roman emperors spent big bucks on stadiums, like the coliseum, used for things like fights between gladiators, sometimes fighting animals. there are american parallels to that, too. that's next.fi [ applause ] you know throughout history, folks have suffered from frequent heartburn. butetting heartburn and then treating day after day is a thing of the past. block the acid with prilosec otc, and don't get heartburn in the first place. [ male announcer ] one pill each morning 24 hours. zero heartburn. the beach on your tv is much closer than it appears. seize the summer with up to 50% off hotels at travelocity. i guess. did you download that book i sent? yah, nice rainbow highlighter. you've got finch for math right? uh-uh. english? her. splanker, pretend we're not related. oh trust me, you don't want any of that. you got my map? yeah. where you can sit can define your entire year. and what's the most important ing to remember? no face to face contact until we're off of school property

then powell and jeffrey tucker join the currency debate thing that we better be ccreful that the american dollar is already going down. what do youthink? >> i fear th inflation ii low. >> are you kidding me? grandmothers are rolling over in their graves right now. any young person has heard someone say i remember when not cost a nickel. the currency has lost its value. it takes $23 to buy today what 1 dollar could back in 1913. john: and had to go all the way back, paul krugman would tell you that inflation is 2%. but this isn't a big mystery. they started paying interest on the extra reserves. if that actually gets went out, then wwill see higher prices. >> it is a serious issue. you can get a return on your money anymore for savings. that is precisely what we are discouraging. john: let's go back to the rome parallel. they traded and they prosped and they did what most politicians do. >> he empire kept expanding and eventuay run 180 day ahead the maximum extent of the empire so over time this was the downfall of rome. a bigovernment destroying rome. the barbarians came as the government

then powell and jeffrey tucker join the currency debate thing that we better be ccreful that the american dollar is already going down. what do you think? >> i fear that inflation ii low. >> are you kidding me? grandmothers are rolling over in eir graves rht now. any young person has heard someone say i remember when not cost a nickel. the currency has lost its value. it tkes $23 to buy today what 1 dollar could back in 1913. john: and had to go all the way back, paul krugman would tell you that inflation is 2%. but this isn't a big mystery. they started paying interest on the extra reserves. if that actually gets went out, then we will see higher prices. >> it is a seris issue. you can get a return on your money anymore for savings. that is precisely what we are discouraging. john: let's go back to the rome parallel. they traded and they prospered and they did what most politicians do. he empire kept expanding an eventually run 180 day ahead the maximum extent of the empire so over time this was the downfall of rome. a big government destroying rome. th barbarians came as the government