Episode

9/26 The Debt Crisis is a Myth & Modern Monetary Theory w/ Stephanie Kelton

September 26, 2017

Steve Mnuchin reflects on lying to Americans about pushing for a large tax break for the wealthy.

Stephanie Kelton (@StephanieKelton), a Professor of economics and public policy at Stoney Brooke University, explains the Bretton Woods system. Why leaving behind the Gold Standard creates policy flexibility. Why did Nixon take America out of the Gold Standard? Why our fiscal policy has not left behind the Gold Standard way of thinking. What is money in modern economics? How does payment work? What actually causes inflation. Why inflation is not the problem right now in global economics. Taxes and how money works in society and the plutocrats who have an interest in perpetuating the debt myth.

On The Fun Half: Protestors are removed from the Senate as they fight to protect public healthcare. Bernie Sanders makes more progress in mainstreaming Single Payer healthcare. Sanders schools Graham and Cassidy at the CNN debate. Lindsay Graham tries to attack the health insurance industry while pushing a bill to enrich them. Marxism and identity. Rick Santorum throws a tantrum on CNN over the Graham Cassidy health bill. Louie Gohmert thinks John McCain should be recalled because he has cancer. Sarah Huckabee explains that Trump can do policy and pick fights on Twitter at the same time and your calls and IMs.

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David Dayen, the Executive Editor at The American Prospect, joins Sam to discuss the Senate stimulus package and the "money bazooka" it aims directly to large corporations and CEOs. Sam and Dayen break down how the bailout will work for industries like the airlines and workers. Dayen explains ...