Episode

5/22 Stephanie Kelton: What You Think You Know About Money is Wrong

May 22, 2014

Professor Stephanie Kelton Chair of the Department of Economics at the University of Missouri-Kansas City explains the Bretton Woods System and the end of the Gold Standard in the 1970s, why comparisons to the Weimar Republic and Zimbabwe made by austerity promoters are wrong, high inflation does not happen in well functioning democracies,  why we think about the deficit in the wrong way, the smart way to think about the Simpson Bowles austerity plan, the purpose of taxes, Hillary Clinton running on bringing down the debt and addressing the inequality crisis, Social Security and inequality, what Thomas Piketty misses, why labor needs to make a comeback and why fighting inequality must go beyond raising taxes at the top.

On The Fun Half: Progressive reform and taxes, debating Russian foreign policy, Democrats screw up Benghazi hearings, the Clintons and Benghazi strategy, would Bernie Sanders call out debt myths? Chipotle joins the one world conspiracy,  and your calls and IMs.

Also take a look here for all of the links for today’s show here!

And keep the conversation going on our morning thread 

Members make the Majority Report possible. Please join us by becoming a MEMBER. You can also show your support by clicking thru to the DONATE button for a one-time donation. Thanks

 

Past Episodes

Break out your soft collar, it's Casual Friday and today's whole episode is a freebie. We open with an enigma that never ages, Jeffrey Epstein and his relationship with his proclaimed best friend, Donald Trump. We take a look at the Wall Street Journal's piece on Trump's lewd birthday ...
It's Thursday which means it is an Emmajority Report Day. We start the show with the Senate Rescissions bill that passed in the wee hours last night. PBS, NPR and USAID are now on life support. We are joined by Policy Director of Defending Rights & Dissent, Chip Gibbons, to discuss ...
Despite Emma's absence, it's hump day Wednesday and there's a lot to talk about. Inflation is slowly starting to rise to its highest number since February. The effects of these tariffs will be rearing their head eventually. Award winning Israeli journalist, Meron Rapaport joins us for a ...