chairman of the ludwig von mises institute and author of this book the left right and the state and it's such a big day it's really good to have you on the show lou and nice to see you as always thanks for being here good to be with you absolutely so let's talk about greece because it really seems like in the past we've seen these negotiations and maybe some political theater but it felt like political grandstanding and like this was going to get done but now you really have some material difference one being one that i referred to which is that one of the coalition party leaders is that he may not sign on to this so my question to you are we reaching the point where the economic realities of debt deflation and depression are reaching the point where politicians can no longer control their society as they become accustomed to doing in the west. well politicians of course shouldn't be controlling society but let's hope that greece and does does indeed default that's the best thing for the people of greece the people who hold the bonds of the mostly the big banks in western europe and in s

rockwell in auburn alabama to help us dissect what this means lou is the chairman of the log ludwig von mises institute and also the author of the left the right and the state. hey there are your thoughts lou about whether or not this is a case that the country is headed down into a path of fascism oh it seems to be clearly true ron is that is the truth teller as usual because we have remembered typically of fascism fascist or just epithets but if that is an actual political philosophy it's an actual economic philosophy from an economic standpoint as ron pointed out it's a combination of big corporations and big government working together against the rest of society to illegitimately profit then you have militarism belligerent nationalism demonization of the other muslims and the american kids today and the welfare state and perpetual war so is america slipping into a fascist state the movie think of fascism as just being an historical philosophy of franco and mussolini and hitler and or theon salazar and roosevelt i would add too by the way think of us think of it as being from the past but it's not

yeah sounds like a good idea let's bring back in here executive chairman of the ludwig von mises institute author of this book the left the right and the state to talk about these stories to bring this home to the u.s. so let's skip mr rockwell for a moment the stock at the insider trading thing because i want to talk to you about what what everybody wants to hear from you about which is the fed ok so this news story that comes out that the fed only selected a small handful of banks to sell these debt securities of a.i.g. that the taxpayers own ok great case to make for the fed being corrupt i know you're a critic but i want to play you what dean baker he's an economist said in a debate over this issue about why we shouldn't get rid of the fed is one of his reasons let me play that for you and i want you to respond. and in our watch over this is better than just letting j.p. morgan so they run the financial system and that's what you were asking the feds. now your critic here you're critical of the government and at least being in charge so does he have a point about the fact that there's