Darlene McDonald for Congress

14 August 2017All across the country incredible first-time candidates are entering the political fray. Darlene McDonald (@VoteDarlene), running in UT-4, is an articulate, accomplished, woman with a truly compelling backstory. This is the very kind of candidate who has the ability to change the Democratic party…and I don’t mean only if she wins. Darlene’s message, story and her campaign carry the voice of the party in the way no amount of tweeting, blogging or, frankly, podcasting, every will. Darlene is precisely how and why the Democratic party will shine and grow in the future and we LOVED having so much time to talk with her. We think that after you hear from her you will want to support her and we look forward to having her back as the race heats up.

Will threw down the gauntlet in the Lying Liar Lie of the Week segment describing some of the abuses perpetrated by the new Netflix show, What the Health. Will makes the point that someone with a doctorate in English advising on health and health-related issues is disingenuous at best. Sadly, for Will and for all of us, I soundly defeated him with the report, from Alex Thompson at Vice News, that Trump gets a 22 to 25-page report twice each day full of all the positive things said about him on cable news, Twitter and the like. Inside the administration this document is called the Propaganda Document. Unlike past administrations, which collected media in order to judge the public mood positive or negative, only positive media is forwarded to Trump and the intention is strictly to fluff his ego. (Yuck!)

Will hasn’t taken us to Scotland lately and, of course, we knew that couldn’t last! For the past few years, HMRC has been engaging in what might be called “Willful Incpompetence” when it comes to measuring the Scottish Economy. As far as various sectors of Scotland’s economy are concerned (including two of the biggest, oil and energy) HM Revenue and Customs has been allocating Scotland’s economic activity to an “Unknown Region” because they simply didn’t want to do the work to determine where said economic activity was actually occurring. Recently, they were forced to update their figures revealing that they had been understating the value Scotland’s Oil exports by about 90%. This equates to 15 Billion worth of revenue that was allocated to an “Unknown Region,” and these updated figures still do not give an accurate accounting of Scotland’s economic activity.

I finish-up my three week run on Dodd-Frank and the efforts by the administration to change the Volker Rule both by legislation and just by reinterpreting enforcement. Dodd-Frank and the Volker Rule seem like distant things which are way above the “pay grade” of most of us but the fact is that these are the rapidly breaking walls which are holding back the surge of another financial crisis just like the last one. The GOP and Wall Street have learned nothing. Fed Chair, Janet Yellen, and FDIC Director, Martin Gruenberg, are among the only (Obama appointed) regulators standing between the Trump hoard and their goal. Emailing them your support would not be a wasted effort. They need to know we are watching. Additionally, the Office of the Comptroller of the Currency has opened Volker revisions up for public comment. You are the public so go here to comment. It is not important that you be technical. Tell them your story and make sure they know you are paying attention.

I will be away for the next two shows but Will and our new team have got you. Carrots! – Arliss

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Charles Gaba – Fixing the ACA, a Deep Dive

7 August 2017 – This week we go really deep into the weeds, which is our favorite place! National ACA expert, Charles Gaba (@charles_gaba aka Brainwrap) of ACASignUps.org fame is with us to help us sort out current legislative efforts, what needs to be done as well as what is politically possible. Charles also defines and clarifies terms like “Medicare for All” and explains the problems with Dems settling on that vocabulary and policy at this point.

Will starts us out with a bang and a rant. I chime in too. We have both just HAD IT with with the “Brocialist” attitude toward women. We also REALLY hate the entitled, special snowflake crap they throw at every idea which does not fully comply with their purity tests. Politics is work and compromise. It’s about community. It’s almost always a long, hard slog to get anything of real merit. It’s definitely not for the whiny or precious. Being mean, vindictive and exclusionary is expressly not welcome in the big tent of the Democratic party. Everyone who wants to work, cooperatively to achieve the platform goals is welcome. Brocialists? Get the hell out.

I devote my segment this week to part two of a three-part “series” highlighting the current, fierce attack on Dodd-Frank. Last week I was on the Consumer Finance Protection Bureau (CFPB). This week I review the basics of the rest of Dodd-Frank in preparation for getting into detail regarding the increasingly successful Trump administration attack on the foundations of our entire financial system. It’s a big deal and very much under-covered in the media, hence a three week project to shine a light.

I’m here next week but traveling for the following two weeks so you can look forward to hearing from some of our new folks later in August. Carrots! – Arliss

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The CFPB is Under Attack!

31 July 2017 –  [Note:  this post was, somehow, erased from our site. We have republished to the site as of 20 September 2017.] We were incredibly lucky to have just the right interview guest at just the right time, Amanda Werner (@wamandajd), Arbitration Campaign Manager for Americans for Financial Reform & Public Citizen, was with us to talk about the dangerous efforts, by Congress, to overturn the new arbitration rule just published by the Consumer Finance Protection Bureau (CFPB). In the first half of the interview Amanda gets into some great detail about why forced arbitration is problematic and why some communities are particularly impacted. In the second half we get into the politics of the rule and explain why it is essential that you get involved in this very winnable fight.

At the top of the show I talk with Will a bit about the letter sent by the American Psychoanalytic Association to its members clarifying their long-held position that as medical professionals they have a “duty to warn” and that they see this duty as particularly relevant due to the observable behavior of President Trump.

And speaking of observable, impulsive, antagonistic, aggressive behavior…

This week Trump thought he could change DoD policy with a 140 character tweet in which he attempted to ban transgendered individuals from serving in the armed forces…where they are already serving…by the thousands. The Pentagon was blindsided and made it clear that DoD policy is not now and never will be issued via tweet. Will spoke both about the organizational issues and the personal struggles of the trans community. Trump’s efforts to feed hatred are despicable and, frankly, just another bit of evidence that he is mentally ill and unfit to serve as president.

Just before the interview with Amanda Werner, I reviewed the mission and successes of the CFPB. I also talk a bit about their enemies. In government, of course, no good deed goes unpunished so Congressman Jeb Hensarling, in an especially personal and vicious manner, is directly attacking CFPB Director Richard Cordray. Hensarling really despises Cordray because Cordray is so good at his job. Which is proof that it is absolutely essential that, like other regulators, the CFPB remain insulated from the political process as much as is reasonable. The GOP is looking for every possible opening to diminish this critically important agency. As we did with the ACA, we must, we simply MUST fight to defend the CFPB at every turn.

And so it goes. No rest for the victorious! Carrots! – Arliss

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You Heard It Here First…

19 June 2017 – This was one of those shows where Will and I covered a lot of ground. We did not have an interview (and there is no Extra Mad) so we just moved straight through the show with no breaks.

I began with a nod acknowledging Will for bringing on Math Campbell last week and taking time from the discussion of the UK snap election results to talk with Math about the fact that the new agreement between the May government and the DUP has destabilized the already precarious Good Friday Agreement. This week Gerry Adams and the group of the Sinn Fein leadership met with PM May and made their grievances known and clear. Interestingly, Adams also pressed May on the fact that her austerity economics has drained more than £1bn out of the Northern Irish economy, an economy already dramatically endangered by the coming closure of the border between the Republic of Ireland and the Counties.

I also took a moment to note that MP Jo Cox was assassinated one year ago this week and the memorial event her family planned, The Great Get Together (#Jo Cox, #GreatGetTogether, #MoreInCommon) spread deep and wide across the country as people joined to acknowledge their desire for less divisiveness and more unity. More than 100,000 listed events took place and millions of people participated in everything from fair-like activities held in parks to tea parties held at libraries, churches, mosques and synagogues and even in simple things like baking cupcakes for neighbors. In this week when members of Congress and their staff were terrorized in Alexandria, it seemed appropriate to take a look at what trying to heal could look like if we wanted it to.

In our Hopping Mad’s Lying Liar Lie of the Week segment Will’s contender was the inability of the Trump administration to have any actual idea if Trump went to see Rep. Steve Scalise. I nominated Trump’s “witch hunt” tweets and included my favorite response tweets. As it turns out, Congressman Seth Moulton (D-MA) made the best case. He, of course, represents Salem, MA. ’nuff said.

In the body of the show I use the example of the central bank of Denmark warning its member banks about concerns related to the hot lending market despite the fact that all of those banks have passed ECB compatible stress testing. Meanwhile back in the US, the House voted to roll-back Dodd-Frank and the Trump administration is tamping down regulatory enforcement at every opportunity. This leaves only the Fed between us and the same economic disaster which nearly destroyed the economy in 2007. So – every time you hear the deeply misguided “audit the Fed” meme, I want you to remember this week and thank the Great Bunny that the US Federal Reserve is (relatively) independent and self-funded.

Will then spoke about the violent, so-called “left” DemExit movement and enumerated the ways in which they not really part of the left and definitely not part of the Democratic Party. Their dangerous, nihilistic rhetoric is really not about politics it’s just a self-justification for their rage. They are not interested in engaging in the public debate about policy. Truly, their only focus is on revolution in the streets and destruction. Just as progressives blame the GOP for not having called-out the violent, far right; progressives must now take responsibility and call out the terrorists on the farthest fringes of the left for both their views and actions.

I followed-on the subject of the responsibility to speak out by talking about former Fed Chair Ben Bernanke’s new book, Courage to Act. NOW Bernanke acknowledges the the economic crazy is all coming from one side, the GOP, and even goes so far as to blame the Obama administration for not having issued more progressive budgets and then fought for them. Ben, where were you then!?!

This show will air on 19 June and so I thought it was appropriate to take time to talk about the history of Juneteenth and why it is a relevant and important holiday for all Americans. I have to say I had to educate myself from scratch in order to even be able to speak in the most general ways about Juneteenth but I hope to listen and learn more in the coming year. By next year I would hope to lift up this topic with greater understanding.

One last thing – Rebecca Romans, thank you for the AMAZING TOUR and for all that you do in supporting progressive media. I know I speak for many podcasts when I say that we all love you! Many, Many Carrots! – Arliss

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Stingers: Bees, Donald Loves Dictators, & Audit the Fed

24 October 2016 – We don’t have and interview today due to a last minute cancellation but Will and I had a LOT to say so everything worked out as it was meant to be. At the top of the show Will uses the example of the Vauxhall automotive plant, in Liverpool, to illustrate why Brexit is creating such a tenuous employment environment all across the UK. It is incredible that people thought they could place a protest vote for something every expert was telling them would damage their economy and yet they are still stunned that companies are talking about moving their operations out of the UK.

My first topic today is bees. The decline of pollinators is continuing and the first bees have recently been added to the Threatened and Endangered Species list . They will soon to be joined there by more of their sister species. Still, through on-going research we are steadily learning how, precisely, it is that we are killing the bees and finding that many of those factors are reversible if we start now…. Two good places to begin are the Xerces Society and the Great Sunflower Project. Every little flower helps. As promised, I have included a photo of the newly threatened buff-tailed bumble bee above for your enjoyment.

Will then comes back to talk about Donald Trump’s ongoing praise of dictators. From Vladimir Putin to Saddam Hussein to Mummer Gaddafi to Bashar al-Assad to Kim Jong-un to Rodrigo Duterte – Trump respects and admires each and every one. In fact, Trump wants to BE them. Fortunately, unless he plays that sort of character on Trump TV, we aren’t actually going to give him the chance.

My big block of the day, on Audit the Fed, begins on the broadcast version of the show but is only available in full on the podcast version. If you thought Audit the Fed was about auditing the Federal Reserve then you probably got suckered in by Right to Life and Right to Work too. Audit the Fed is about Congress taking control of monetary policy…because they handled Zika so well.

Will then closes out Extra Mad talking about why Mars is where all the science is. How we move our species forward, how we survive, will in no small part be determined by how serious we get about space.

And in closing, the loss of pollinators is already having a negative effect of carrot crops. CARROTS, people! This is serious. Carrots!Arliss

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HRC & DNC Conspiracy Theories & the IMF Says “Whoops!”

8 August 2016 – This week we had a lot of territory to cover and very little time due to scheduling issues. We have no interview or Extra Mad today but do start with breaking news on a new and unexpected humanitarian crisis. From there I plunge into Trump’s views on and utter lack of knowledge about nuclear weapons. (Be afraid. Be VERY afraid.) Will then moves on to the newest nation in the world, South Sudan, which represents an incredible opportunity missed and a sad story we will be hearing for a very long time.

Will wanted to spend some time this week really talking about several of the conspiracy theories surrounding Hillary and some of the misunderstandings/conspiracy theories which are frustrating regarding the Democratic National Convention and Committee. Will talks about the truly hideous conspiracy theory about Hillary having Vince Foster Seth Rich murdered recently. Will also, apparently for my entertainment, brings up an old theory where President Obama has ordered a nuclear attack against Charleston…South Carolina. He then chats about the false claims that the DNC rigged the primary election and I end up ranting while reminding everyone that the DNC is not a public organization and not part of the government. It’s a private organization, a club…a treehouse, and because this is the case the DNC gets to write its own rules. I also mention why I feel like Bernie delegates, to the national convention, had expectations which could not be met because they were not fully briefed by the Sanders campaign. I do feel bad that it happened this way.

I close out the show with a review on the recent report from the Independent Evaluation Office (IEO) of the International Monetary Fund, “The IMF and the Crises in Greece, Ireland and Portugal.” This is a WOW report. The IEO has provided a very constructive but extremely brutal review of the many, many failures of the IMF in dealing with the European banking crisis. The thing I am most pleased by is that so many of the things the MMT community has been shouting for years now are bourn out in this report but this is small comfort beside the gravity of the impact of the errors made by the IMF and the troika.

Will is traveling this next week but we will be back on 22 August with an all new show. – Carrots! Arliss

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Frances Coppola, Putin & Rajan

1 August 2016 – It is always glorious when we can have the well-known banking expert,  economics wonk and bloggerFrances Coppola on the show.  We were thrilled to welcome her back this week to talk about threats to the independence of central banks. We also discussed her recent panel at the Financial Times Festival of Finance where she consistently pointed out that the rise in populism expressed both through the Brexit vote and in the Trump candidacy, is all about the local.

Will and I had a lot of fun at the top of the show where he reveled in the number of GOP pundits who had to admit they loved the Democratic National Convention and I revealed what is, perhaps, the single most important polling result of this election cycle.

Will then goes on to tear into what we know (and what we don’t) about the relationships between Donald Trump, members of his campaign staff, Julian Assange, Vladimir Putin and various Russian surrogates and agencies. The word “traitor” does indeed come to mind. Seriously.

I spend my time on an overview of the economy of India, the modernization efforts and challenges and a bit about the Reserve Bank of India (RBI) including its recent upheaval. Since the soon-to-be former Governor of the RBI may very well be the incoming head of the IMF, after Lagarde steps down later this year, it’s worth getting to know a bit more about him. Rughuram Rajan is a neoliberal economist but he is also extremely accomplished, qualified and would be a much stronger voice for developing nations.

In spite of Trump, this has been a great week to be a Democrat and Will and I are still in the post-convention glow. In the next 100 days this country may well rise or fall. Let’s get to work. Carrots! – Arliss

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