JD Alt Dreams in MMT Reality

6 November 2017Architect and author JD Alt again graced us with his thoughts, this time talking about his new novella, Low Earth Orbit. The novella takes the functionality of modern monetary theory and applies it to solve major issues facing a society on the brink. The novella lives at the intersection between architecture, environment, society and economics with a light touch which will bring you back to it again and again in the future. Low Earth Orbit demonstrates the dreams of which reality is made and I could not recommend it more.

I begin the show with background information about Trump’s nomination for the next Chairman of the Federal Reserve, Jerome “Jay” Powell. Powell is currently on the board of Governors of the Fed and it is thought that he will continue the practices of his predecessor, Janet Yellen. Trump could have nominated a number of truly despicable people, including Mike Pence’s favorite, John Taylor. Instead, the next Fed chair is known to be hardworking, calm,  interested in both sides of any question as well as being…frankly…rational (something in short supply these days.) In Trump-adjusted terms, Powell is basically a “win.”

Will pushes back against the not particularly factually-based spin being tossed about by former DNC chair, Donna Brazille. Here’s the bottom line:

We need a functional DNC which works for everyone.

We MUST win in 2018.

Nothing else is as important.

Will then moves on to a discussion of the upcoming race in Virginia. Virginia, he notes, tends to vote contrarian and is not necessarily the bellwether some are insisting upon. The race is being impacted by Trump’s impossible claims around coal and restoration of coal-based jobs while job training lacks a viable program.

Hopping Mad Associate, Dave Paquette, who is, himself, a registered nurse, updates us on the opiates crisis and the latest, minimal actions by the Trump administration. While Trump claims to have declared a “national emergency,” with all the funding and support such an act involves, in reality he only declared a “public health emergency.” The fund available for use in such emergencies is $56,000. So, not even sofa cushion change. Meanwhile, the family-owned Purdue Pharma has been profiteering wildly from sales of opiates. Purdue’s owner, the Sackler family, simply must be pulled out into the light of day. More than 2.5 million Americans are thought to be addicted. Overdose is now the leading cause of death for adults under the age of fifty. In 2016 up to 65,000 people (depending upon how the count is done) died from opiate overdose but, somehow, it is not a national emergency.

We will be back next week with an unusual interview I think you will love. Until then, 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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