Dr. Randall Wray on Minsky

31 October 2016Modern Monetary Theory innovator and torchbearer, Dr. L. Randall Wray is with us for most of the show in a deep dive interview on his book, Why Minsky Matters:  An Introduction to the Work of a Maverick Economist (here from Princeton University Press or here from Amazon). If you have been a listener for more than a couple of weeks you have undoubtedly heard me speak of Dr. Wray. I may have discovered MMT through Dr. Stephanie Kelton but it was Dr. Wray’s book, Modern Money Theory:  A Primer on Macroeconomics for Sovereign Monetary Systems, which entirely captured my imagination, gave me hope as to how we get to where we need to go and (finally) made economics make real sense to my very pragmatic mind. Still, even though this was one of our longest interviews to date I could have easily asked another hundred questions–Wray is that interesting. I think you will be fascinated.

At the top of the show Will takes just a few minutes to knock down the persistent Clinton bashing related to Honduras. People, facts matter. Really. Twitter is just loaded-up with Bros who are convinced that Hillary backed a war in Honduras facts not withstanding. …very frustrating. I take a similar ride only related to the most recent e-mails FBI Director James Comey detonated into the election, likely breaking the Hatch Act while he was at it. According to Kurt Eichenwald, of Newsweek, who seems to have an inside source, none of the e-mails involved appear to be either to or from Hillary. None of the e-mails appear to have been withheld by Hillary from the investigation. The FBI has had the laptop with the e-mails for weeks and they were told about the e-mail accounts involved in April! Director Comey said, in the bomb he sent to Congress, that he has no idea what is in the e-mails. He just thought he would blow-up the election for the hell of it!

Sadly, Will and I will be off next week. Will has an election-related job and I am, of course, busy making sure the Rabbit American vote turns out. We will be back on the 14th. 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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JD Alt on “The Millennials’ Money”; AltRight & the Trump Economy

17 October 2016 – I have been talking on the show about JD Alt’s book, The Millennials’ Money, since it was still a series of posts on the modern monetary theory (MMT) blog, New Economic Perspectives. This book is that good and it’s that important. JD not only covers the basics of MMT effectively and in an especially accessible manner, he goes much further and explains why it has particular applicability to millennials and how it can be the tool they need to make the changes in the world they have been calling for so articulately. JD’s ideas for using MMT to solve some of the biggest challenges facing society genuinely made me think deeply. And guess what, there’s an app for that (or there could be.) JD is an architect by trade so his drawings, showing how MMT works, are unmatched and are core to the success of his first MMT book, the best-seller, Diagrams & Dollars. The inclusion of his diagrams in The Millennials’ Money makes the book even more useful. Perhaps the most important thing JD brings to the MMT discussion is some truly original and interesting thinking on how we re-frame the debate to make the obvious nature of MMT as apparent to everyone else as it is to us right now. The Millennial’s Money is available from Dog Ear Publishing and on Amazon.

This week Will starts our talking about the cluster bombing of Syrian civilians by the Russians. Cluster bombs are fragmentation weapons which deploy many smaller bombs and are anti-personnel ordinance on a major scale. Will then goes on to talk about so-called “New Mysogyny” and the Altright. Apparently, there are various pods of men who are so under-developed emotionally that they think women rule the world and are running a massive conspiracy to keep men down all the while being considerably less intelligent than are men. (Because that makes sense. LOL!) But these guys in the Manosphere are so far gone that they are working to repeal the 19th Amendment, which gave women the right to vote, and are blaming their involuntary celibacy (which they refer to as “incel”) on everything except their own repulsiveness. Will recommends David Futrelle’s website We Hunted the Mammoth for insight and appropriate mocking of these tiny, tiny “men.”

I start out with something you knew had to be coming, a run-down of the “achievements” of Indiana Governor and GOP Vice Presidential Candidate, Mike Pence. Suffice to say here that Pence is dangerous but unlikely to be a threat to anyone in the future as he rides off into the sunset of what will be his non-starter of a 2020 Presidential campaign. I then finish-up detailing the lies Trump told about the economy during the first debate. This does not really matter since the Trump campaign is toast but these old tropes are regularly trotted out by the GOP so it is worth putting a stake through their heart.

Remember that voting is open in many states. Be sure to vote and to get all your (sane) friends and family to the polls to do the same. A big win for Democrats will help us crush the “the vote is rigged” meme beneath our foot, grind it under our heel and then scrape it off on the nearest patch of grass. This election is the most important in decades. Never doubt it. Carrots! – Arliss

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Trump is Toast & Fascism in the UK

10 October 2016 – We were lucky to have Scottish National Party Councillor Math Campbell  to preview for us what it looks like when fascism takes over a country. The British government of Prime Minister Theresa May is talking about creating a “registry” for all foreign nationals and has decided that no organizations which advise Whitehall can include foreign nationals among their advisors. Prime Minister May has also announced that when negotiating Brexit from the European Union, limiting immigration will take priority over jobs, the economy and justice. It’s good to know she has established her priorities. Math let us know that plans are continuing apace for a Scottish break from the UK.

At the top of the show Will makes it clear that the most recent release from Wikileaks, which is intended to be problematic for Clinton, is not now and was not ever created by the Clinton Foundation or part of a speech given by Hillary. The release is comprised of falsified documents, probably written by Russian agents, in an effort to influence the US election.

I answer the question, what is Hillary’s plan to pay for debt-free college? This is a nod of the carrot to Travis & Rachel, our friends at Irreverent Testimony, who were faced by a Libertarian with this very question last week. I hope this answer helps. If anyone needs additional detail, there is a lot more at Hillary’s website. This link will take you to the specific page.

Usually, both Will and I have a block on the show to talk at a bit more length about a subject of interest to each of us. We planned that for this week. We prepared our notes. We got ready to record the show. And then Politico announced that the Republican National Committee had temporarily frozen the funding and all work on Trump Victory Fund projects. Will and I were willing to let the rest of the media deal with the despicable things Trump has said about women but when the GOP starts to seriously break-away from their candidate, well, that we had to cover. Late on Saturday afternoon we pitched our original plans out the window and started again. What you will hear is current as of about 6PM on Saturday, 8 October.

I didn’t mention it on the show but I did find this graphic of 150 GOP leaders who don’t support Trump and when they reached their breaking point. It is fascinating.

With luck, next week will be a bit more normal. Carrots! – Arliss

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Flipping the Senate, Trump’s Lies & the AltRight

3 October 2016 – We are fortunate again to have back on the show progressive political pundit Jesse LaGreca (@JesseLaGreca) to talk about the efforts by Democrats to flip the Senate. Something we were once so sure of has become seriously imperiled and Jesse takes us through the top targeted Red to Blue Senate races step by step. It matters that we are about to put a Democrat in the White House but without the Senate President Clinton will not be able to accomplish many of our goals, including appointing decent human beings to the Supreme Court. We can not roll-back Citizens United or restore the weakened Voting Rights Act or wisely protect the environment or be sure that women are free to make their own decisions without securing the Supreme Court. This is a more than critical election. We cannot allow GOP money to shut out our voices again.

Will gets into detail with the horror that is the AltRight and the ties of the Trump campaign to openly racist groups. He discussed the ideological backing of the fascist branch of the alt right, rooted in conspiracy theories, and shows how the Trump campaign and the alt right is moving from covert, dog-whistle racism, to overt antisemitism, including this death threat sent to Jewish Politico journalist Julia Ioffe, which is fairly representative of the way Trump’s supporters have been attacking Jewish journalists. Next week, He’ll talk about the misogynistic “Manosphere” component of the Alt-Right.

I dive into dissecting the morass of lies Trump told about economic issues during the first debate. In fact, there are so many that I will be back next week with even more. (How sad is that?) This week I get into the fact that China is NOT manipulating their currency, factories in Mexico are NOT more sophisticated than those in the US and Mexico is NOT the “8th wonder of the world” as claimed by Trump. Then I go after his lies related to jobs and Ford Motor Company. Ford is NOT putting workers in Michigan out of work in order to move manufacturing to Mexico and the US is NOT shedding manufacturing jobs. In fact, the Obama Administration (or Obama/Clinton Administration, as Trump puts it) has added 800,000 new manufacturing jobs in the last five years.

At the top of the show Will tells us that Jeremy Corbyn still can’t lead his Labour Party out of a paper bag, much less to Downing Street. I get into it over Trump’s lie about the condition of the US nuclear arsenal.

If you haven’t seen them yet, Team Arliss, on Instagram at ImHoppingMad, has their own take on the recent Presidential debate. Carrots! – Arliss

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Common Core Reprise and Update

29 August 2016 – Will is out of town on business this week and I have finally managed to struggle back up onto my paws after six days in the hospital and way too many more in recovery at home. Under normal conditions Will and I would have tried to prepare a show in advance but it was impossible to predict that I would be hospitalized and he would have a concussion at the same time almost immediately followed by an emergency business trip. Obviously, fate is snickering at us.

Hopping Mad is a show which requires considerable preparation and,  because Will and I both have “day” jobs, we fit all that in around already full days. His travel this week and my short days (work, nap, work, nap, work, nap….) made thorough preparation impossible. I have to say that when I am too exhausted to read about financial news or economics, I am one seriously pissed off rabbit. After all, who doesn’t love reading about economics at 3AM!

Will and I solemnly promise a terrific new show next week. So much has happened and we have a LOT to say about it. Seriously, last week Donald Trump had former UKIP leader Nigel Farage at one of his rally extravaganzas!!! There was Farage, “Hello Mississippi….” I think we can all safely anticipate a rant from Will on that subject.

This week we are going back to our 7th show, from last November, when Will first started talking to us about South Sudan and the Spratly Islands and I was on the so-called “budget deal” and the difference between fiscal and monetary spending. The interview was with a California educator who was intimately involved in developing Common Core standards and she is absolutely fascinating on the subject. We hope you enjoy this and we will be back with you next week. Carrots to you and yours! – 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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