New film blames financial crisis on spending, Federal Reserve

“They couldn’t see this train wreck coming, even though it was staring them in the face,” said Peter Schiff in the trailer. “They’re the ones who are fixing the economy when they don’t understand why it broke. In fact, they broke it, and they’re trying to fix it by doing more of what broke it in the first place.”

Why trust the federal government to fix the economy when its own bad policies were to blame in the first place?

That’s what dozens of economist who correctly predicted the financial crisis want to know, according to “The Bubble,” a forthcoming documentary film by historian Tom Woods.

For Woods, the purpose of the film is to educate the public about what caused the 2008 financial crisis, by interviewing several financial experts who saw it coming.

“I want them to walk away saying, ‘wow there is a lot more to this than I thought,’” said Woods, a senior fellow of the Ludwig Von Mises Institute, in an interview with The Daily Caller News Foundation. “It’s not just a comic book story of wicked malefactors of great wealth who manipulated the economy to their own gain and then drove off into the sunset cackling at all of us.”

Woods worries that unrestricted capitalism is being blamed for problems created by government policies, from the regulators who rubber-stamped the housing bubble to the Federal Reserve chairmen who oversaw a reckless expansion of the currency.


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