6/23 Causes of Inflation: Fighting It Without Screwing Workers; A Progressive Challenger Emerges In Twin Cities w/ Mike Konczal & Amane Badhasso

June 23, 2022

Sam hosts Mike Konczal, director of macroeconomic analysis at the Roosevelt Institute, to discuss his recent paper “Prices, Profits, and Power” that he co-authored with Niko Lusiani. Then, Sam is joined by Amane Badhasso, candidate for Congress in Minnesota’s 4th District, to give an update from the campaign trail. First, Sam dives into the decision in New York State Rifle & Pistol Association Inc. v. Bruen which saw SCOTUS reject the constitutionality of limiting concealed carry permits to those with heightened need, looking at how this changes what the Second Amendment means, and the ahistorical perspective required to come to this decision. Next, he’s joined by Mike Konczal who jumps right into defining inflation and situating the US economies capacity and supply coming out of the COVID-19 pandemic, before he and Sam get into the material difference between demand-created inflation, and inflation caused by a lagging supply that has been crippled by a multi-year pandemic. Then, Konczal compares the state of US inflation with our peers in Europe, with our economy jumping out ahead of them towards the beginning of the pandemic as we had to fund the economic stabilizers they already had, before the Russian invasion of Ukraine shot the European economy right up to our level, and he and Sam look at the idea of wage-driven inflation (which is a dubious cause of our current moment), and assess the rampant corporate profits of the last two years and the price gauging and demand-based inflation that they are tied to. They wrap up the interview by diving into the paths the Fed is taking to combat inflation, with a focus on encouraging saving rather than spending, and Mike gives his own takes on what could help inflation without also hurting those already made most marginalized by inflation. Amane Badhasso then joins as she dives into her connection to Minnesota Congressional District 4 as a refugee finding a safe haven, and her desire to promote and expand a progressive and community-oriented platform, contrasting that with her opponent’s deep ties to the Military-Industrial complex, before they conclude their discussion by touching on the relationship between US and Israel and what it means for her to take on mass human rights violations.

And in the Fun Half: Sam is joined by Matt and Brandon as they dive into updates from the 1/6 hearing, as the Republicans, almost all of whom refused to serve on the committee, reject the lack of perspective as “cross-examination” in what is very much not a court case. Ted Cruz fears the Antifa riots that will break out after the Roe decision, and Veronica from Olympia dives deep into her personal experience with running as a Democrat in a state race that the left is very unlikely to win. They also walk through the biggest races in the upcoming midterms, admire Herschel Walker’s initiative to grant statehood to DC and Puerto Rico, and dive into attacks against Lauren Boebert from the same conservative PAC that went after Madison Cawthorne. Brian from Flagstaff thinks the problem is that the Civil War never ended, plus, your calls and IMs!

Check out Mike’s paper here: https://rooseveltinstitute.org/publications/prices-profits-and-power/
Check out Amane’s campaign here: https://www.amaneforcongress.com/

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