Uploaded July 2026 | Updated September 2026, 2 weeks ago
In the wake of Alan Greenspan's recent passing, Bob revisits two contested claims about his legacy: did the Fed under Greenspan fuel the housing bubble, and did that bubble cause the 2008 financial crisis?
2026 is the Year of Rothbard—Murray's 100th birthday—and we're celebrating by giving away free copies of The Origins of the Federal Reserve through July 31. Grab yours today at mises.org/HAPodFree
Related:
Bob's Article from October, 2007, "The Worst Recession in 25 years?": Mises.org/HAP557a
Peter Schiff was Right (2006-2007 Edition): Mises.org/HAP557b
Mark Thornton, 2004, "Housing: Too Good to Be True": Mises.org/HAP557c
Bob's 2008 Article, "The Importance of Capital Theory": Mises.org/HAP557d
The Charts Shown in this Episode: Mises.org/HAP557e
0:00 Intro
0:13 Greenspan's Legacy: Two Claims to Settle
0:43 Methodology: A Priori vs. Empirical in Austrian Economics
8:45 Austrians Called It: Schiff, Paul, and Thornton
11:16 The Fed, Mortgage Rates, and the Housing Bubble
16:57 Greenspan's Defense: The Global Savings Glut
19:08 Rebutting the Global Savings Glut
30:01 Home Prices, Housing Starts, and Construction Employment
36:57 Was Oil the Real Cause?
43:00 The Vacancy Rate: Smoking Gun for a Speculative Bubble
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics at https://Mises.org.
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Podcasts ► mises.org/podcasts
In the wake of Alan Greenspan's recent passing, Bob revisits two contested claims about his legacy: did the Fed under Greenspan fuel the housing bubble, and did that bubble cause the 2008 financial crisis?
2026 is the Year of Rothbard—Murray's 100th birthday—and we're celebrating by giving away free copies of The Origins of the Federal Reserve through July 31. Grab yours today at mises.org/HAPodFree
Related:
Bob's Article from October, 2007, "The Worst Recession in 25 years?": Mises.org/HAP557a
Peter Schiff was Right (2006-2007 Edition): Mises.org/HAP557b
Mark Thornton, 2004, "Housing: Too Good to Be True": Mises.org/HAP557c
Bob's 2008 Article, "The Importance of Capital Theory": Mises.org/HAP557d
The Charts Shown in this Episode: Mises.org/HAP557e
0:00 Intro
0:13 Greenspan's Legacy: Two Claims to Settle
0:43 Methodology: A Priori vs. Empirical in Austrian Economics
8:45 Austrians Called It: Schiff, Paul, and Thornton
11:16 The Fed, Mortgage Rates, and the Housing Bubble
16:57 Greenspan's Defense: The Global Savings Glut
19:08 Rebutting the Global Savings Glut
30:01 Home Prices, Housing Starts, and Construction Employment
36:57 Was Oil the Real Cause?
43:00 The Vacancy Rate: Smoking Gun for a Speculative Bubble
Find free books, daily articles, podcasts, lecture series, and everything about the Austrian School of Economics at https://Mises.org.
X ► https://x.com/mises/
Facebook ► facebook.com/mises.institute
Instagram ► instagram.com/misesinstitute
SoundCloud ► soundcloud.com/misesmedia
Apple Podcasts ► podcasts.apple.com/us/artist/mises-institute/1280664810
Rumble ► rumble.com/c/c-2212754
Odysee ► odysee.com/@mises
Podcasts ► mises.org/podcasts
