"It's not the FEDs existence that's the problem it's the interests it serves". The FEDs existence serves those interests. Exactly zero of their tools don't have regressive effects.

Excellent discussion, great, knowledgable guest, thank you.

“Take the cost of inflation off the back of profits? hell no! Take it off the back of already struggling working people? fuck yeah.” -The bourgeoisie through its political institution the Fed.

Could you please please please try getting Mark Blyth or Yanis Varoufakis on to talk about this?

This is why I'm subbed. 😊 Please leave off bashing us egalitarians for being "woke" (aka, not bigoted). 🙄

Great discussion!

The government does not tax and spend. It authorizes spending and taxes some of that money back in. Read Stephanie Kelton’s book, The Deficit Myth. “Government’s own deficit supply the dollars that are needed purchase bonds."

Thank you, Samir Sonti and Jen.

Price controls stabilize prices. Nobody is telling businesses to stop jacking up prices for short term windfall gains. There might be A FEW sectors which can justify higher prices but that isn't a general situation. We could control prices and ration scarce goods. That's what happened during WWII, especially food prices.

Thank you both.

I’ve thought the same thing. That what the fed does is a type of central planning.

Fascinating, great discussion!

Very enlightening! Thank you!

End the Fed.

wonderful explanation

We need to hybridize the working class and employer class, worker owned co-ops.

Very informative. Although shouldn't we also be considering that this time inflation is happening just because companies realized they can get away with raising their prices and so they did? From what I have heard companies in general have lots of cash so they don't need to raise prices. And since so many average people are not doing so well I wouldn't think the demand can be that great. Could the problem just be that there is too much monopolization? And when one or a few companies raise their price then all other companies see that and jump on the bandwagon as well. As economist Richard Wolff says, inflation happens for one reason: companies raise their prices.

Very informative interview. Thanks a lot!

RECOMMENDED!!!

Can anyone in the comments let me know of their opinion on MMT and whether actually we should be talking about it

Jen Pan, my favourite interviewer. Sharp and pretty ❤️

Your guest needs to get up to speed on MMT and modern monetary operations. He's behind. I would be curious if Stephanie Kelton or Fadhel Kaboub would be willing to do in interview with you all. 1st a currency issuing govt spends. Then is taxes a portion back. Taxes are what we call reserve drains. Bonds and treasury securities are reserve drains. Federal spending (i.e. social security checks) are reserve adds. Federal spending injects money into our system; whereas, taxes and Treasury securities delete money from our system. With generally accepted accounting principles in reserve accounting, taxes do NOT create revenue. This is our operational monetary reality. US citizens need to get up to speed on this. Please dive into Stephanie Kelton's The Deficit Myth for a solid, approachable introduction.

There's something Alice-in-Wonderland about our economics. Is it planned or accidental? Isn't there an economic model that everyone can understand, not just the few? 🤔 (from GREEN FIRE, UK) 🌈🦉

But isn't actual unemployment estimated closer to 10% right now? It's not that low. Some people are still unemployed from the 2020 lockdowns and lost their jobs permanently, others have only been back at work full time/full salary for maybe a year. Cutting jobs and wages will spell more disaster to working people. But hey, as long as the CEOs enjoy their private jets I guess that's all that matters.

"needs to be able to finance the investment, so taxes need to be part of the equation" wrong. You're thinking inside a very very small box

this

I got yelled at for talking about this how do I fight manipulating gaslighting Karen’s just ignore them they are stopping me from learning!

Correction: the Fed created the inflation just to start the class war. The class war is needed to willy nilly force higher rates. Higher rates are needed for global reset.