In a recent episode of "The Problem With Jon Stewart," the former Daily Show host asks former president of the Kansas City Fed Thomas Hoenig why the Fed couldn't have bailed out homeowners, or just "quantitative ease" away the Treasury's debt. Hoenig gives muddy answers, so Bob tries to clarify.

Mentioned in the Episode and Other Links of Interest:

• Jon Stewart's full interview with Thomas Hoenig.
• Jon Stewart skewers Paul Krugman.
• Jon Stewart interviews Kelton and Gray on MMT.
• Bob's book Understanding Money Mechanics.
• Help support the Bob Murphy Show.

The audio production for this episode was provided by Podsworth Media.