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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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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Social Security Works!, Charlotte & Banks

26 September 2016 – We are finally back up to full power this week and have a truly terrific interview with Alex Lawson of Social Security Works! Because our listeners already have heard me talk about the mechanics of how Social Security works, Alex was free to wade out into the weeds where the world gets really interesting. He went into a great deal of detail about the dirty underbelly that the lying liars are trying so hard to keep us from seeing when they promote the privatization of Social Security. He also recommended that we take a side trip to the link for Social Security Spotlight where the (excellent) website lays out the economic impact of Social Security state by state.

At the top of the show Will talked about the importance and joy of celebrating Bi Visibility Day. I was especially caught by his pointing out why it is that the largest group within the LGBTQ community is also the most ignored.  For my opening section I was less cheerful in giving an update on the latest news from the protectors gathered on the Standing Rock Sioux reservation along the Cannonball River. Like Keystone XL before it, the Dakota Access Pipeline is an enormous environmental threat and its construction has already caused the bulldozing of burial grounds, sacred sites and the locations of historic villages. Pressure from around the world has caused the Obama administration to reconsider but the project is by no means stopped. We must join in demanding an end to this and all similar pipeline projects.

Will then really spent time time getting into the role that journalism is playing in the protests in Charlotte. That journalists have stopped operating as journalists and now are only feeding the clicks necessary to support advertising has destroyed one of the cornerstones of our democracy. When the people lose their voice, they lose hope and then where do they turn?

I spend just a few minutes talking about how banks create money and why new money is pulled out of central banks by private sector banks instead of being pushed out as is the common view.

One last note, if you haven’t checked us, ImHoppingMad, out on Instagram yet, the six Team Arliss bunnies are now there providing their own brief comments on politics, economics and, of course, carrots. 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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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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Conspiracy Theories, Democracy & Social Security

16 May 2016 – When you have Mark Potok, from the Southern Poverty Law Center (SPLC), on for the interview, you already know it’s going to be a good show. Mark is the editor of  the SPLC quarterly journal, Intelligence Report and most of this interview is based upon an article he and Don Terry wrote for the Winter issue, Margins to the Mainstream. While Mark is one of the leading experts in the country on extremism (and we will have him back in a few weeks on that very subject) this article took a look at the conspiracy theories which have seeped into the mainstream of politics from the radical right. In this, the season of Trump, it seemed apropos.

Will takes a thoughtful stroll around democracy. Once initially ensconced, most citizens tend to think of democracy as a done deal but it is a process and, certainly, both in North America and in Europe, it is undergoing change, some good and some bad. Will knows where he wants to go and that’s what he’s “on about” today.

I’m off on one of those “third rail” topics of American politics, Social Security. Everyone seems sure that Social Security is in need of saving and, well, everyone is wrong. It isn’t that we shouldn’t maintain and even strengthen Social Security, we most assuredly should, it’s that the problem with Social Security isn’t funding, the problem is politics.

…and one other thing…we are going to Netroots Nation in St. Louis in July! Will and I will be there the whole time. We will be recording interviews for Hopping Mad and helping out on Radio Row at the Netroots Radio booth. Come on by. We would love to meet you, maybe chat over a couple of carrots and generally have a fabulous time.

Thanks for listening! – Carrots! Arliss

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Award-Winning Author Matt Rees

4 April 2016 – Most of us have a short list of “desert island” authors and I have to admit that award-winning author Matt Rees has been on my list since I stumbled across his novel, The Collaborator of Bethlehem, early in 2007. Reading Matt’s work over the years has changed my perspective and every time I re-read one of his books I find that once again I am seeing part of the world in a new way. In the interview today we spend most of our time on Matt’s newest book, The Ambassador, which he wrote with co-author Yehuda Avner. You will likely recognize Mr. Avner’s name as he was the well-known Israeli diplomat and advisor to Prime Ministers who passed away just this past year. In the interview Matt talks to us about both the process and the fabric of his thoughts on writing. Matt was born in Wales, grew up in London, went to university in the States and then worked as a journalist, briefly covering Wall Street but then for nearly fifteen years in Jerusalem much of that as the Time Magazine Jerusalem Bureau Chief. Matt, his wife, the writer and author Devorah Blachor, and their children now live in Luxembourg. The Blachor-Rees family are pro-rabbit. Matt joined us over Skype but under a blanket (to cut down on the echo) for a truly lovely and fascinating interview.

Will brings the horror this week talking about the only recently recognized scorched-earth massacre which took place on 30 January in the village of Dalori, Nigeria. This is Boko Haram/Islamic State at its worst and the West completely overlooked it for more than a month.

I begin the show with a few comments on the book I read this week, Dan Ephron’s, Killing a King:  The Assassination of Yitzhak Rabin and the Remaking of Israel. Later in the show, and following weeks of other topics, I finally return home to talk about Modern Monetary Theory (MMT) and the Bloomberg article, Ignored for Years, a Radical Economic Theory is Gaining Converts.

For your entertainment, Will sent me this link  and I thought I would share it with you because it’s just that good. Enjoy! – Carrots! Arliss


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