This transcript has been automatically generated and may not be 100% accurate.

... the the ... or is ... that Ben been Anqi announced late Sunday that the Fed will continue its eighty five billion toll on on line from homelessness when these things form of money printing ... what does one critic of the Federal Reserve system think of this news joining us now with very privileged ... to want all ... full much wealth and Texas Congressman Financial Canavan all federal ... court that the school revolution a new and said mom broken education system thank you very much for being as we read in the data ... is this money printing program continuation the right thing ... I and I think it's the wrong thing to do not surprised there continue to do it ... but the issue the bad news not good news of course I think the market to wait on it was good news because I believe that can receive the stocks will open ... a new market ... highs I suppose they're right ... so if they didn't say where we're going to taper ... ten billion already spending five billion dollars per month ... the market's mood in panic ... I would think that this message and they should get ... even by not tapering ... isn't as bad news anyway ... because that means the Fed's worry ... after all the standard on its many trillions of dollars ... in are still sailing early in the week at peace with statistic that are not for real ... I think the unemployment statistics are much worse than they need to really look at you know the percentage of people who are in the underemployed and unemployment at night sixty percent ... of people in receipt and that the actual number of people and that in that office market Pulaski ... isn't this a lot lower that ... what what what the Fed becoming an annual you could cook the Fed the you know to doing more to the beat I mean what is the answer clearly the moment the lights we know that if if you're a player or you think the government can the Fed can do this and manipulated ... I guess you can pick and changing my so that the cornbread ... you know ... coming from the viewpoint ... of money ... it's the more you trade the bigger the bubble ... and steel balls out their bomb bomb was problems out there ... should you continue to process yes you might feel better and it always feels better when they ... hear when they get to drive ... so they fit film the better but it's it's coming from the worst moment was one of the things that that that the Fed ... was was look and whistles mortgage rates have gone up quite dramatically this typified about this for a three point four percent to ... four point six percent broadly speaking which was a massive jump in monthly payments for annual morning supply stay at home and boom was saying about the number of mortgage applications down in an outhouse he was the strength ... to stand trial the Fed and to this problem ... I think about those things that they are planners and I think they're all Parra Poland ... the ... Peter want to purposely DC this summer they deceive themselves and there's no inflation on ice is ... eyeing price inflation is out there ... the cost of living is going up much faster than people ... who are making a wager real wages or even go down easy going down for many many decades ... so I think they deceive themselves they must come around to believing that there's no inflation the economy's a little weak that ... it just keep keep doing this ... that they're very naive to believe that to ... keep the problem came from when they use to talk about ... how to greet me and ... he kept interest rates too low too long ... that to the Vilma fibrous the island on the internet and engines burning keys that been in he can eat a meal or who could believe you can take him ... to even lower and sometimes it's below zero the Kaiser ... because of the inflation rate of the very very low he can solve the problem ... is the problem it now attending from from the fat mass on out of Washington out of budgets outlets was present Obama talking about ... a possible government shutdown ... what we now have it is a ideological ... fight it's been mounted ... in the House of Representatives that says ... we're not going to pass a budget and we will threaten a government shutdown ... alas we repeal ... the Affordable Care ... thus the present a bomb I just have ... a short while ago talking about the budget showdown in the Affordable Care Act ... should should be ... congrats just pass the budget ... because the only should cut spending ... or taxes ... I take the Republicans are in the bid being disingenuous is well you know there are new ... to cut ... this exorbitant medical program which I would be for ... the same time they're very not talking about cutting back on our entire overseas and that they want to keep the money and that pleases to keep the military budget ... write out their ... toe in one hand they say yet it's come from the medical care but we certainly won't end up that is not their position they want that money to stay hidden in the military budget ... but though they either eat it sorta like the monetary system and not to cut back on printing money because people see it as a negative and ... can temporarily assumed to be good to spending if they get what I wanted to people be pretty upset you ... balance the budget in with ... my proposal in the can ... down to three years ... how do we get from where ... we on now and in contrast away you would want us to be or even call them the way back is likely due to recognize the getting to what you want ... to be a day wore on and wanted to be twenty seven Congress is is is is this a long way from what we are in the house tiny get people even edging in that direction ... will you you have to get people to agree that it's in their best interest to spend less money and have less money which is going be very difficult ... I don't expect it to help ... him I think we're going to go the way of Detroit ... you know I think no country is going ... to the country has to pass the twenty oh in that direction where were bank where we have to do so the interest rates are skyrocketing unemployment is high ... the prices are going up in interest rates are up ... that that is what will happen they'll help to enhance and we'll re for ... but in the meantime I think Erin continue to do no spending ... but the piece a pity that say well what ... can you do don't interaction I would cut spending I would cut taxes I would not be on any body ... he and I would like while the liquidation of debt ... we didn't want a liquidation can get this out there the derivatives market are alive and wail ... there's a lot of malinvestment to anything you ... can have trillions of dollars in new money in Friday injected in the banking system is going to go ... in the wrong places he doesn't go in creating jobs in the business people are confident that jobs are coming in a worthwhile starting were there were about Obamacare is a lot of factors that go ... to the conference is and they are ... the little coastal place in right now I think is in the bond market is likely to move on ... one one other things that some people sign is that yes yes that the U S it's you know ... falling too much ... but it's it's a less worse situation ... by Mike said Lutz was struck ... on than your upside of all the pots of the well I mean we get we might mean the chemical right but we do if Adam anybody else ... it is that his laugh at this time and some ... I think so I think it's true them I think ... you think we aam we on as bad as the root cause of all I wanted to make the market is saying that yes I think we are potentially much more vulnerable ... because that and we've had this for reached ... since nineteen twelve forty five especially ... to issue the currency of the work ... and when that was when the US to go from Britain as ... the world ... we took it over with the Bretton Woods in and in that ... and we've been doing ever since the world is Thyssen's Steel who ... handed rather have a dollar the euro star still ... functions ... but if you look carefully I you know interest rates are creeping up and dollars ... Not so worrying ... and in bad debt is going in but I do believe we get ... a benefit ... I think it makes the bubble works because this is an illusionist post comments distrusted dollars trust the ... American people ... they can stay in my work today and will keep Bonnie will keep taking their dollars ... still I think that's a greater distortion means that the correction ... when he comes in and forced the powers that be much worse than the much less costly to that thank you Brian much doctrine and call ... on multiple Tom congressman from Texas I'm Simon Qassam on that's new supper now ... ay ay ay ... I ...