16 May 2019 – I promised you that in our next show I would get into the myths about Federal debt. This is that show. In addition, Will talks about why we should be going into space – for real. Some of the ideas sound crazy but I think there is enormous value in doing the work that takes us down those paths, regardless. There is so much possibility, why would we not get serious? At the top of the show we touch on the new agreement, between the UK and the Republic of Ireland, to establish a common travel area. Granted, this is a weak tea solution but it’s not nothing.
In case you want a quick list of the eight myths about Federal debt which I cover, here goes:
Carrying debt is bad for the Federal government
And the corollary, Federal surplus is good (this article provides perspective)
The Federal government uses our taxes to “pay for” government spending
There is a fiscal cliff
Passing Federal debt on to future generations is bad
The Federal government issues Treasury bonds (debt) to fund spending
Federal debt “crowds out” investors (Stephanie Kelton crushes Paul Krugman on this subject here.)
23 June 2018 – We are back (and trying to stay that way.) This is a grab bag show covering a number of international issues which are getting only cursory coverage by US media (for obvious reasons.) Will has news about currency plans for Scotland which, for MMT folk, is especially frustrating. On another front, remember all those times, pre-Brexit vote, when we said that the problem was going to be the Irish border. Well, the problem is the Irish border and it is both threatening to bring down the May government and cause the UK to “crash” out of the EU instead of Brexit in an orderly manner. Tune in to find out about the “Irish Backstop.”
In Extra Mad, Michele LeSure, our show editor, joins us to raise an important jobs issue which is just starting to break in Gainesville but could well spread to universities across the nation. Then we go back overseas to the Israeli Nation-State law and finally, to Iranfor the changes which are happening as a result of Trump pulling the US out of the Iranian Nuclear Agreement. So, obviously, it’s a light show this week. 😉
Along those lines, things have not been light for me this summer and that is why the show has been off-air so much. My actual job had a number of really wonderful things happen but all of them have involved a huge and unexpected time commitment accompanied by a larger than ordinary amount of stress. But that’s not all, the announcement that Justice Kennedy was retiring really flipped a switch for me. I just had to stop on-boarding news, Twitter, podcasts…all of it. Kennedy was just, somehow, one hop too far. I have had to take a break. I’m getting back to the real world slowly, starting by concentrating overseas. I’ll get back stateside soon and, hopefully, will be refreshed and ready to plow forward to the election. Many carrots! – Arliss
12 February 2018 – We’re BACK!!! At least, we are back on the air. I’m still traveling so I’ll keep this really short. At the top of the show Will emphasizes the importance of continuing to work toward victory in November and not making the mistake of thinking we are already over the finish line. I get into the latest in the Brexit talks with the EU insisting that Northern Ireland remain within the common market.
In his main block Will talks about the shifting sands within the German government and why this may be a generally hopeful sign. In my block I try to explain what the hell is going on in the stock market and why it is in no way a reflection of what is happening in the real economy.
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
12 June 2017 – While the results of the snap election in the UK were not quite as unexpected as the most recent US election, they came close. Recovering politician and the founder of English Scotts for YES, Math Campbell (@MathCampbell and @EnglishScottsForYES) joins us to sort out the chaos. We take extra time to really understand why British PM Theresa May opted to form a coalition government with the terrorist affiliated political party from Northern Ireland, the Democratic Unionist Party. Since this tipping of the delicate balance in Northern Ireland toward the unionists and away from the republicans could potentially re-ignite the Troubles it seemed worth our time. Math and Will also dissect the voter turnout problem in Scotland and, like the 70,000 voters in the upper Midwest who tipped the entire US election, they cover why the SNP voters who stayed home made such an outsized difference in the result nationwide.
We begin with our new weekly segment, the Lying Liar Lie of the Week. Arliss’ competitor was proposed by listener @bosengood. Apparently, David Brooks thinks the Flynn/Russia matter had little to do with why Trump fired Comey! Will rejoined with Trump assuring us that he is 100% happy to testify under oath. (Sure you are, Donald.)
Will got way back to basics, all the way back to Thomas Paine (and further) talking about the principle of positive liberty and why it is this basic core value which distinguishes progressives from conservatives. Positive liberty is about having the capacity to create real opportunity versus the negative liberty principle of not being prevented from achieving an outcome. Positive liberty is why progressives believe in basic rights and is at the heart of the healthcare debate.
On a side note, Will and I have begun speaking with some folks who have come forward to volunteer to join the Hopping Mad team. If you are interested please let us know. We are serious about adding more voices. Carrots! – Arliss