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Scott Horton Show - Just the Interviews

12/5/25 Mark Thornton on the Boom Bust Cycle and the Federal Reserve

Scott Horton Show - Just the Interviews

Scott Horton

News, Politics

4.8 • 989 Ratings

🗓️ 11 December 2025

⏱️ 56 minutes

🧾️ Download transcript

Summary

Mark Thornton of the Mises Institute joins the show to talk about the state of the economy, the boom bust cycle and why anybody—left, right, and center—who cares about the wellbeing of the working class needs to oppose the existence of the Federal Reserve. Discussed on the show: “The Seven Deadly Economic Sins” (Mises.org) The Minor Issues Podcast Mark Thornton is a senior fellow at the Mises Institute. His most recent book is The Skyscraper Curse: And How Austrian Economists Predicted Every Major Economic Crisis of the Last Century. Follow him on Twitter @DrMarkThornton Audio cleaned up with the Podsworth app:  https://podsworth.com Use code HORTON50 for 50% off your first order at Podsworth.com to clean up your voice recordings, sound like a pro, and also support the Scott Horton Show! For more on Scott’s work: Check out The Libertarian Institute:  https://www.libertarianinstitute.org Check out Scott’s other show, Provoked, with Darryl Cooper https://youtube.com/@Provoked_Show Read Scott’s books: Provoked: How Washington Started the New Cold War with Russia and the Catastrophe in Ukraine https://amzn.to/47jMtg7 (The audiobook of Provoked is being published in sections at https://scotthortonshow.com) Enough Already: Time to End the War on Terrorism: https://amzn.to/3tgMCdw Fool’s Errand: Time to End the War in Afghanistan https://amzn.to/3HRufs0 Follow Scott on X @scotthortonshow And check out Scott’s full interview archives: https://scotthorton.org/all-interviews This episode of the Scott Horton Show is sponsored by: Roberts and Roberts Brokerage Incorporated https://rrbi.co Moon Does Artisan Coffee https://scotthorton.org/coffee; Tom Woods’ Liberty Classroom https://www.libertyclassroom.com/dap/a/?a=1616 and Dissident Media https://dissidentmedia.com You can also support Scott’s work by making a one-time or recurring donation at https://scotthorton.org/donate/https://scotthortonshow.com or https://patreon.com/scotthortonshow Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

Ladies and gentlemen of the press have been less than honest, reporting to the American people, what's going on in this country?

0:11.0

Because the babies are making it.

0:13.0

We're dealing with Hitler Revisited.

0:15.0

This is the Scott Horton Show, Libertarian Foreign Policy, mostly.

0:21.7

When the president doesn't, that means that it is not only...

0:24.5

We're going to take out seven countries in five years.

0:27.0

They don't know what the fuck they're doing.

0:29.3

Negotiate now.

0:31.4

End this war.

0:33.5

And now, here's your host, Scott Horton.

0:39.3

All right, you guys, introducing the great Mark Thornton from the Ludwig von Mises Institute.

0:46.5

He is senior fellow over there, which makes him really smart.

0:51.2

And the authoritative analyst on all things, boom and bust. Welcome back to the show.

0:57.6

So happy to have you, Mark. Hey, Scott. It's great to be back on your program. It's been a while,

1:02.2

but I've been looking forward to this. Yeah, cool. So we have so much to catch up on,

1:07.5

but I've got to say this, and I'm sorry to try your patience. I bet I've been saying

1:11.1

this for 20 years, that for all the people in my audience who lean however much left and right

1:17.0

and don't like libertarianism and don't think that we're right about everything, which you're

1:20.8

wrong about that, we are right about everything. But here's the thing that we're really, really

1:25.1

right about. Anti-imperialism, but also here's the other thing that we're really, really right about. And by we, I mean, this guy, and that is the boom-bust cycle. We've all lived through our whole lives. The economy's good. The economy sucks. The economy's good. The economy sucks. My friend's wife bought a bunch of houses to flip them,

1:44.3

oh, and she got stuck with them all. That was the first one in the 1980s when I was a kid.

1:49.1

My parents, friends, the wife, got stuck with a bunch of houses when the prices all went down.

...

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