Avsnitt
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"Colonized people have the right to resist."
Economist and friend of the podcast Fadhel Kaboub talks with Steve about the effects of global hegemony and the ongoing attempts to shift the balance of power. They look at BRICS, though it’s perhaps too soon to predict its ultimate outcome and influence.
Fadhel argues that a true multipolar world cannot emerge without placing the Global South at the center of economic decision-making, challenging the existing economic domination by the US and other nations. The history of colonial exploitation continues to affect the resource-rich region.
Fadhel also addresses the ways in which Israel is carrying out the US agenda in Gaza. He points out that the world’s reaction is being influenced by the ready availability of direct information via social media.
"The world didn't start on October 7th. There was a world before that. And there is a colonial project that was being built in Gaza and Palestine.
"Every colonial case we've seen in Africa and the rest of the Global South created resistance movements and resistance. Some people resist in the streets, some people resist with little pebbles and stones, some people resist with weapons. Some people resist with their voice, some people resist with their pen. But it's resistance. And it's a legitimate right to resist.
"It's beginning to click for a lot of people that colonized people have the right to resist."
Fadhel Kaboub is an associate professor of economics at Denison University (presently on leave) and the president of the Global Institute for Sustainable Prosperity. He's the author of Global South Perspectives on Substack.
Find his work at kaboub.com and globalsouthperspectives.substack.com
@FadhelKaboub on Twitter
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“A capitalist economy requires constant imperialist wars because it has to constantly suppress prices and wages and reorganize production in the global south around accumulation in the core. That is ultimately the system that we have to overcome.”
Jason Hickel, who won our hearts a while back by accepting MMT, talks with Steve about the burning issue of our time. (No, not the US election, though they touch on the electoral system.) As much as Gaza is dominating social media, we must continue to stress its place in the capital order. Jason points us to Israel’s true role: sowing chaos and instability in the region.
The conversation covers the historical and ongoing imperialistic strategies of the U.S. and its reactions to the mid-century liberation movements of the Global South, placing US support for Israel's actions as part of a broader capitalist agenda to maintain control over the world's resources and labor markets. Jason looks at China’s domestic successes and how they have led to the US virtually declaring war. He also touches on recent news about BRICS.
Jason compares the history of the state of Israel to that of apartheid S. Africa. They used many of the same tactics and rationalizations. When it comes to the future for Israelis and Palestinians, S. Africa again provides a model:
“What is the actual solution for this region? And I think we have to be clear. The alternative is democracy. The alternative to apartheid is democracy. Democracy and equal rights for all people in the land of Palestine, from the river to the sea...
“We have to start thinking about what this means... This is exactly what South Africa did after they abolished apartheid... They disestablished the apartheid state. They disestablished the apartheid institutions. They ensured equal rights and democracy for all within the territory.”Dr. Jason Hickel is an economic anthropologist, author, and a Fellow of the Royal Society of Arts. He is Professor at the Institute for Environmental Science and Technology at the Autonomous University of Barcelona, Visiting Senior Fellow at the International Inequalities Institute at the London School of Economics, and Chair Professor of Global Justice and the Environment at the University of Oslo. Health.
Jason's research focuses on global political economy, inequality, and ecological economics, which are the subjects of his two most recent books: The Divide: A Brief Guide to Global Inequality and its Solutions (Penguin, 2017), and Less is More: How Degrowth Will Save the World (Penguin, 2020), which was listed by the Financial Times and New Scientist as a book of the year.
@jasonhickel on Twitter
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Saknas det avsnitt?
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Author and labor studies professor Eric Blanc talks about worker-led union organizing and why it is superior to the dominant model of staff-intensive unionism.
“You just can't get the type of mass movement we need by relying on staff. Even the best staff.”Eric lays out some features of worker-to-worker organizing:
Workers are training other workers in the skills they need for a successful union drive.
Workers are self-organizing before they affiliate with a union. As a result, the relationship between worker and union is more of a partnership; not a relationship of deference.
Workers have decision-making power for the drive. They decide on strategy, tactics, even, perhaps, a political stance.
“One of the crucial turning points... that forced Starbucks to come to the bargaining table earlier this year, was the union came out for very strong stance around Palestine and solidarity with Gaza.
“And it created this knockoff effect that ended up leading to a mass boycott that hurt Starbucks to the tune of 11 billion dollars. And there's just no way that if workers hadn't been in the driving seat of this campaign, that they would have done such a risky thing very early on.”Political activists will take away a lot from this conversation.
Eric Blanc is director of the Worker-to-Worker Collaborative and co-founder of the Emergency Workplace Organizing Committee. He is professor of labor studies at Rutgers University. He is also author of the substack Labor Politics, and author of the forthcoming monograph, "We Are the Union: How Worker-to-Worker Organizing is Revitalizing Labor and Winning Big" (UC Press, 2025)
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**Milestone 300! We dedicate this, the 300th weekly episode, to our loyal listeners, and we wish to recognize the valiant work of our underpaid podcast crew – correction: our unpaid podcast crew – who have put in thousands of hours editing audio, correcting transcripts, writing show notes, creating artwork, and posting promos on social media. To have the next 300 episodes delivered to your inbox as soon as they’re released, subscribe at realprogressives.substack.com
Project Censored has been a valuable resource for Macro N Cheese. This week, sociologist Andy Lee Roth talks with Steve about information gatekeeping by big tech through their use of AI algorithms to stifle diverse voices. The discussion highlights historical and current instances of media censorship and looks at the monopolization of news distribution by corporate giants like Google, Facebook, and Twitter.
In an economic system that is fully privatized, trustworthy journalism is another casualty. News, which should be treated as a public good, is anything but.
Andy Lee Roth is associate director of Project Censored, a nonprofit that promotes independent journalism and critical media literacy education. He is the coauthor of The Media and Me (2022), the Project’s guide to critical media literacy for young people, and “Beyond Fact-Checking” (2024), a teaching guide about news frames and their power to shape our understanding of the world. Roth holds a PhD in sociology from the University of California, Los Angeles, and a BA in sociology and anthropology from Haverford College. His research and writing have been published in a variety of outlets, including Index on Censorship, In These Times, YES! Magazine, The Progressive, Truthout, Media Culture & Society, and the International Journal of Press/Politics. During 2024-2025 his current work on Algorithmic Literacy for Journalists is supported by a fellowship from the Reynolds Journalism Institute.
projectcensored.org
@ProjectCensored on Twitter
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**Our Substack brings every new episode of this podcast as well timely alerts about our book clubs and webinars and reminders for Tuesday night’s gatherings of Macro ‘n Chill. All this and more, straight to your inbox. Subscribe now: realprogressives.substack.com
Recently, Steve appeared with host Sean St. Heart on Coup Save America, a weekly podcast committed to breaking through political rhetoric and focusing our attention on the core problems affecting our nation. The episode’s title was Exploring Modern Monetary Theory with Steve Grumbine, but of course it’s almost impossible to limit an MMT conversation to macroeconomics alone.
From the Coup Save America show notes:
“’Are Progressives like 8-bit robots walking into walls when it comes to understanding economics?’
“Today we welcome special guest Steve Grumbine, founder and CEO of the nonprofits Real Progressives and Real Progress in Action. Steve is here to tell us how Modern Monetary Theory could benefit the working class American – and why it doesn’t. If you think a podcast on economics will be dry and dull, you’ve never heard Steve’s animated and passionate viewpoints on the subject.
“Steve and Sean start the episode by reflecting upon the most recent presidential debate, then Steve launches right into the truth about our nation’s economy. While explaining the term “austerity” as it relates to macroeconomic models, Steve dispels the myth that if a government spends money on its people, it will cause inflation. We learn about the history of the Federal Reserve and how it works, what the federal deficit actually means, and what taxes really are and why they exist. Steve teaches us the difference between a ‘currency user’ and a ‘currency issuer,’ along with explaining how inflation works and why he hates using the term Modern Monetary Theory.
“What would an idealistic economic system look like? It comes down to understanding class, power, and the average working man’s lack of agency. As progressives, we sabotage our own agenda by not understanding how economics work. Steve describes our movement’s ignorance as a ‘self-inflicted gunshot wound to the junk,’ and he tries to clear up some of the more common misunderstandings. He talks about the history of capitalism and how the system is now eating itself alive. When you pay interest rates, where does that money go? Is the middle class even a real thing? Steve attests that Modern Monetary Theory could contribute to fixing our society’s problems, but MMT can’t do it alone. How do we make our progressive goals actionable and not just theoretical? Why do progressives go to sleep whenever Democrats are in power rather than demanding real change?
“Steve does a brilliant ‘Trumper’ impression as he explains how we need to create working class awareness. We (as progressives) need to accept that Medicare can’t work on a state-by-state level, and Steve calls out our dreams of a Universal Basic Income as being ‘batshit, bullshit crazy’ (although there is still hope in the idea of Universal Basic Services). So, how do we solve our economic problems? Listen to learn about ‘outside the nine dots,’ ‘creating dual power,’ and how ‘education and awakening are two different things.’
“Other topics include: Giving Biden credit for the CHIPS Act, price gauging during the pandemic, ‘Dude, Where’s My Car,’ and the economic theories of Clara E. Mattei and Jason Hickel.”Coup Save America is a weekly talk show hosted by Sean St. Heart that plants the mental seeds of social change by inciting a politically progressive
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If NIMBY is the classist rejection of affordable housing ("Not in my back yard”), then YIMBY is sold as the progressive counter to it: “Yes, in my back yard; because I believe affordable housing should be widely available, even in my own neighborhood.” But of course, housing development has nothing to do with the needs of the poor or the working class. It has nothing to do with the public purpose.
Steve’s guest, political economist David Fields, explains:
“YIMBY is yes to housing in my backyard, but housing for developers to extract profit from land value. So build as much as possible within a given area and, in the end, extract as much as possible through rent extraction and land value appreciation. It's not, in my view, yes to actual affordable housing in my backyard to house working class folks. No, it's yes to luxury skyscrapers, luxury this, luxury that. Build as cheaply as possible for vested interests to maximize gain.”YIMBY’s want us to believe that sheer quantity will bring prices down, because that’s how the market works. Those who object are accused of NIMBYism. In addition,
“They're economically illiterate, they're economically stupid, they don't know, they don't pay attention, and they're not letting the magic do its magic. Which, anybody who knows a modicum of economics and knows that supply and demand is institutionally configurated - not natural - should be flabbergasted and say, how did this get to be so popular, so celebrated? Well, there are vested interests involved.”The episode explores the misleading narratives of YIMBYism and compares the market-driven approach to housing to trickle-down economics, emphasizing the constructed scarcity and profit motives behind urban planning. David points out the misuse of economic models like the Marshallian Cross, highlighting flaws in the market logic often used to justify YIMBY policies.
David and Steve talk about the broader neoliberal agenda of privatization and deregulation, and its stranglehold on government policies. Awareness and organization are needed to combat systemic class inequality in housing and beyond.
David Fields is from a critical realist and genetic structuralist ontology and epistemology. His work centers on the intricacies concerning the interactions of foreign exchanges and capital flows, with economic growth, fiscal and monetary policy and distribution, whereby critical attention is paid to the notion of endogenous money. He also delves into the political economy of regional development to study patterns with respect to the nature of housing, social stratification, and community planning.
@ProfDavidFields on Twitter
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The titans of capital aren’t just the obscenely wealthy. They are the directors of transnational finance companies; they manage the money of the obscenely wealthy.
Steve’s guest, political sociologist Peter Phillips, is the author of Titans of Capital: How Concentrated Wealth Threatens Humanity. The titans, he says, have doubled their AUM (assets under management) in the past 5 years.
“There's only 117 of them and they manage $50 trillion of capital. That $50 trillion is the core –– almost half of the free-floating capital in the world. And that is what the US calls a vital interest. So, when the US says we have vital interests in the world, that's what they mean.“And that's why we have military bases everywhere in the world, because these investors are everywhere. And any rivalries are undermined by our intelligence agencies, by the government, by military whenever possible. So, it just happens that governments work on behalf of capital.”So, if you’re wondering why the US has military interests in Ukraine or Gaza. Look to the titans, whose firms are investing in the defense industry. They profit off of war
While the titans are massively increasing the wealth of the top .05 percent of the world’s population, over 20,000 people die each day from starvation and easily curable diseases.
While the ruling class and their media mouthpieces insist that capitalism is going to save the world and money will trickle down...
“It's not. It's exactly the opposite. People are dying daily. There are 700 million people who live in extreme poverty in the world. And extreme poverty means you're living on $2.15 a day. That's the UN set level for extreme poverty.Steve and Peter discuss ways in which the titans are able to bend policy to their own purposes. They mention the role of groups like the Trilateral Commission and the Council on Foreign Relations.
The episode also compares the approaches of the US and China, illustrating China's success in alleviating extreme poverty through state-driven economic strategies and how the US tries to spin China as a threat.
Steve and Peter talk about the need for revolutionary social movements to challenge the entrenched capitalist structures and demand wealth redistribution, using the insights of MMT to spur new thinking about alternative economic possibilities.
Peter Phillips is a Professor of Political Sociology at Sonoma State University since 1994, former Director of Project Censored 1996 to 2010 and President of Media Freedom Foundation 2003 to 2017.
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Steve’s guests are Charles Derber and Yale Magrass, authors of Who Owns Democracy: The Real Deep State and the Struggle Over Class and Caste in America.
The concept of the deep state has been employed by different political ideologies, most recently the right under Trump. But its existence is real, and its service to the ruling class can be traced back to the founding of the US.
Among other ideas, Charles and Yale stress the distinction between shallow democracy and the real thing. From their book’s abstract:
“Large corporations, Wall Street, and other sectors of the capitalist class outsource day-to-day governance to the mainstream political parties, which can compete vigorously and create a credible veneer of civil liberties and electoral democracy, disguising and legitimating the deep state. But it is a “shallow democracy,” since the deep state sets boundaries on policies and choices to serve itself. It also denies a universal franchise and obstructs the voting rights of people of color, the poor, and other communities threatening to the deep state. Moreover, the deep state constrains civic governance in the workplace and community, denying virtually all working people democratic control over their economic and social life.”The episode’s conversation examines a historical and contemporary concept of caste in the US, which some of our listeners may find surprising. The discussion also covers contradictions within the capitalist class, the impact of the military-industrial complex, and the potential implications of the upcoming election.
Charles Derber, Professor of Sociology at Boston College, is a public sociologist and life-long activist who writes about structural and cultural analysis of capitalism, public goods, the environment, and social movements seeking transformational change, He is the author of twenty-eight books.
Yale Magrass is a Chancellor Professor of Sociology at University of Massachusetts-Dartmouth. He is the author/co-author of nine books, most co-authored with Charles Derber, and 80 articles. His work focuses upon how militaristic capitalism distorts everyday life as it promotes inequality, bullying, environmental devastation, and war.
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When people reject the concept of degrowth are they suggesting society continue to allow capital to ravage the earth? Are they saying the countries of the global North should continue exploiting and extracting from the global South? Are they pushing for more growth?
Steve’s guest, Erin Remblance is an Australian researcher and activist who was spurred into action six years ago when the IPCC released their special report on global warming of 1.5°C. Since then, Erin has been creating courses, events, and materials that address the crises and work toward solutions.
Erin and Steve discuss degrowth, a planned reduction in energy and material throughput to maintain ecological balance. (Throughput, for those unfamiliar with the term, is defined as “the amount of material or items passing through a system or process.”)
The episode goes into the systemic issues of capitalism, which increasingly commodifies all areas of our lives in its relentless pursuit of growth.
“The gross national product does not allow for the health of our children, the quality of their education or the joy of their play. It does not include the beauty of our poetry or the strength of our marriages, the intelligence of our public debate or the integrity of our public officials. It measures neither our wit nor our courage, neither our wisdom nor our learning, neither our compassion nor our devotion to our country. It measures everything in short, except that which makes life worthwhile.” Robert F. Kennedy, 1968, included in Erin’s slide presentation, An Introduction to Degrowth
Follow Erin Remblance and find her work on LinkedIn, Substack, and Twitter:
https://www.linkedin.com/in/erin-remblance/
https://erinremblance.substack.com/
https://twitter.com/remblance_erin
https://the-healthy-habits-accelerator.circle.so/c/start-here/the-rules
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**Find a transcript of each week’s episode on our Substack, where we also offer links to resources discussed in the interview. Subscribe now at https://realprogressives.substack.com/
Daniel Conceição is back to discuss the social damage of rentier capitalism and the potential to address it through the insights of Modern Monetary Theory.
Rentier capitalism derives profit from ownership and manipulation of assets rather than through productive activity. While industrial capitalism also creates inequality, rentier capitalism, or rent seeking, exacerbates the division.
State-controlled money creation could nullify some of the speculative advantage of rentiers by directly funding critical public services, such as housing and healthcare. It may not be the ultimate answer, but it’s worth looking at.
Daniel and Steve discuss the importance of overcoming mainstream economic fallacies that serve the interests of the financial elite.
Daniel Negreiros Conceição did his undergraduate studies in Economics at the Federal University of Rio de Janeiro in Brazil and his postgraduate studies at UMKC (under Professors Wray, Kelton, et al). He is a professor of macroeconomics and public finance at the Federal University of Rio de Janeiro. He helped create the Institute for Functional Finance and Development (iffdbrasil.org), and he helps run the Brazilian Modern Money Network (https://mmtbrasil.com/) aimed at producing more easily accessible material for teaching MMT to the wider public.
@stopthelunacy on Twitter
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**Join us Tuesday evenings for Macro ‘n Chill, an informal gathering where we listen to and discuss this podcast. Register here for our September 10th session https://events.teams.microsoft.com/event/29d4cc27-0123-4885-aaa8-6ff95947498d@7d53fbd0-6b43-4143-9400-6b0b36a25e55
Steve’s guest is Nolan Higdon, an author and expert in media literacy. They discuss surveillance in education, which Higdon covers in his book, co-authored with Allison Butler, Surveillance Education: Navigating the Conspicuous Absence of Privacy in Schools.
Surveillance capitalism, which emerged in the late 20th century, profits from datamining, largely without public awareness. Nolan emphasizes the increased intrusion into schools, particularly following changes to FERPA laws in 2012 allowing private tech companies to collect and use student data. The discussion highlights the false sense of security offered by the surveillance tools as well as the biases ingrained in AI used in education.
The topic takes on special significance when considered along with the broader implications for society, including the erosion of democracy and the intensification of neoliberal ideology that prioritizes profit over public welfare.
Nolan Higdon is a founding member of the Critical Media Literacy Conference of the Americas, Project Censored National Judge, author, and lecturer at Merrill College and the Education Department at University of California, Santa Cruz. Higdon’s areas of concentration include podcasting, digital culture, news media history, propaganda, and critical media literacy. He is the author of The Anatomy of Fake News: A Critical News Literacy Education (2020); Let’s Agree to Disagree: A Critical Thinking Guide to Communication, Conflict Management, and Critical Media Literacy (2022); The Media And Me: A Guide To Critical Media Literacy For Young People (2022); and the forthcoming Surveillance Education: Navigating the conspicuous absence of privacy in schools (Routledge). Higdon is a regular source of expertise for CBS, NBC, The New York Times, and The San Francisco Chronicle.
Find his work on Substack: nolanhigdon.substack.com
@NolanHigdonCML on Twitter
@ProjectCensored
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Macro N Cheese brings you another twist. A couple of months ago, Steve appeared as a guest on 1Dime Radio in a two-part series that we’re now presenting as a single episode. Tony has been on our podcast several times, now Steve is on his turf. The result is a productive meeting of the minds. He and Steve both view the world through a Marxist lens, and they both agree Marxists need MMT.
The discussion goes into the American Revolution as they consider the possibility of democracy in a modern capitalist system. They examine bourgeois control over politics and economics. They look at the limitations of capitalism in meeting society’s vital problems and talk about the devastating effects of privatization. They compare a UBI to a program of universal basic services and agree there’s no contest.
Tony runs the YouTube channel "1Dime" and the podcast 1Dime Radio. On his main channel, 1Dime does video essays and mini-documentaries that involve the political economy, history, geopolitics, leftist theory, and various socio-political topics. 1Dime is known most for his videos involving MMT and Marxian thought, such as "The Problem With Taxing The Rich" and "Why Billionaires Prefer Democrats." Check out his YouTube channel, 1Dime and his podcast, 1Dime Radio, on Apple, Spotify, and most podcast platforms.
@1DimeOfficial on Twitter
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Let us never become immune to shock and outrage over the US government’s failure to guarantee its citizens a safe clean water supply. We must be outraged by the power that private players hold over us all with the blessings and collusion of officials whose titles suggest they should protect us.
Investigative journalist Jordan Chariton has been reporting on the Flint water crisis for nearly a decade. His newly published book, We the Poisoned, examines how systemic governmental failures, abetted by municipal, state, and federal authorities, and complicit media, combined to allow the Flint catastrophe.
Jordan talks to Steve about the devastating effects of neoliberal privatization schemes, driven by financial incentives and aided by powerful interests including Wall Street, which resulted in the use of untreated water from the polluted Flint River in a city already suffering from decades of economic decline. Privatization transformed public utilities into profit-driven entities, neglecting critical safety and quality controls. President Obama's inadequate federal response and successive Michigan administrations' culpability resulted in a combination of political negligence and deliberate actions all to avoid setting a costly precedent of government intervention.
Lest we relax into the belief that such crises are incidental and rare, be warned. Privatization is on an upward trajectory. The people’s health and safety interfere with profits and in the US, profit reigns supreme.
This episode offers a detailed portrayal of environmental racism, the perils of unchecked corporate power, and how both government and media support these atrocities.
Jordan Chariton, Status Coup CEO, is an independent progressive journalist who has worked inside and outside the belly of the corporate media beast for over a decade. He worked at Fox, MSNBC, and TYT, before starting Status Coup. He is the author of the newly published book, “We the Poisoned: Exposing the Flint Water Crisis Cover-up and the Poisoning of 100,000 Americans.”
@JordanChariton on Twitter
@StatusCoup
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The 2024 fictional film “Civil War” shows an America that has been fractured into armed factions. It’s not the dystopian fantasy that interests us here, however, it’s the collapse of the currency! In the movie, the US dollar has lost its value, like the fate of Confederate money after the (real) US Civil War.
With his imagination piqued by the film, Steve asked Brett Scott, author and monetary theorist, to help us think about the dynamics of commerce, currency, and systemic forces in times of societal collapse and global capitalism.
Brett and Steve look at historical cases like Zimbabwe's hyperinflation and Ireland's banking strike. They discuss barter systems, mutual credit, dollarization, and informal credits.
The conversation delves into broader themes of pre- and post-capitalist markets, moral logics within economies, and the systemic nature of global capitalism. Highlighting the inadequacy of simplistic elite-blaming narratives, they advocate for understanding economic interdependence and discuss Modern Monetary Theory (MMT) as a counter to austerity.
Brett Scott is an author, journalist, and activist, who explores the intersections between money systems, finance, and digital technology. He’s the author of The Heretics Guide to Global Finance: Hacking the Future of Money. His latest book is Cloudmoney: Cash, Cards, Crypto, and the War for Our Wallets. Find more of his work at https://alteredstatesof.money/
brettscott.substack.com
@Suitpossum on Twitter
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“I was still a true believer, but doubts were starting to creep in at a certain point when you saw a large segment of our coalition cheering the brutal death of Rachel Corrie under a Caterpillar D9 bulldozer. And then, you know, a month later, cheering for the death of Tom Hurndall who was killed protecting a Palestinian child from Israeli snipers and was shot in the head by an expert marksman looking through a scope.”
Jonathan Kadmon is on the leadership team of Real Progressives and writes for the website. He also helps put out this podcast. Today, however, he is talking to Steve about his vast knowledge of Zionism, Palestine, and US support for Israel.
Jonathan was raised in a Republican household and became a passionate supporter of Israel during his college years, when he was given training and taken on trips by powerful players in the Israel lobby. After growing up a Jew in the South, he now became part of a powerful community and embraced it with pride.
He talks of his experiences and describes his increasing discomfort as discrepancies between fact and propaganda became too great to ignore.
Steve, a vocal critic of the administration’s role in the current genocide in Gaza, is regularly attacked for his views. Jonathan, having studied in Israel and been trained by AIPAC, says:
“That stuff bounces off me like I was wearing body armor... I'm like, oh yeah, you're going to tell me I'm a self-hating Jew? Are you kidding me? My resume and my credentials here probably outstrip anything you have. And the fact of the matter is, I do this because I am a Jew and I'm proud of being a Jew. And I'm proud of my history and my heritage. I learned the lessons of my history and my heritage.”The discussion goes into historical and political manipulation by Zionist organizations to blur the lines between Jewish identity and support for Israel, the erasure of Palestinian history, and the media and political complicity in perpetuating the Zionist narrative.
The episode includes profound insights into Holocaust education, which is intentionally designed to emphasize the trauma and neglect the political economy.
Jonathan Kadmon is on the leadership team at Real Progressives, where he is a writer and a co-host of the weekly discussion group, Macro ‘n Chill.
@JonathanKadmon on X
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In June, Real Progressives hosted a webinar with Carlos García Hernández on his book, Fiat Socialism: Achieving the Goals of Socialism Through Modern Monetary Theory. After hearing his Macro N Cheese interview last year, we wanted to open the door for our volunteers to ask questions and engage with Carlos on this topic. He is an important voice applying the insights of MMT to socialist theory.
“‘Fiat socialism’ is my name for an open and prosperous society ruled by the principles of the Modern Monetary Theory and functional finance.”In talking about his book, Carlos laid out the goals of fiat socialism:
Full employment Full and prudent use of material resources The guarantee of the five essentials to every citizen: food, housing, clothing, health services, and education Social security at all major exposed points in the social structure (eg, old age, sickness, accident, temporary unemployment, and childbearing) Labor standards, to be assured by labor unionsThis episode includes his presentation followed by Q&A with the event’s attendees.
Carlos García Hernández is the founder and director of Lola Books, a publishing house that has introduced MMT to Spanish and German readers. He is the author of Fiat Socialism: Achieving the Goals of Socialism through Modern Monetary Theory.
@Carlos_G_H_ on Twitter
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According to Mischa Geracoulis, of Project Censored, media is a public good and journalism is a public service.
“Being able to access information, being able to join in, participate in the free flow of information, to have an opinion, to formulate a stance –that is actually considered a human right, under Article 19 of the UN Declaration of Human Rights.”It only follows that censorship is a violation of human rights.
Project Censored defines censorship more broadly than a government’s control over the media. It is the suppression of information, whether purposefully or not, by any method – (including) bias, omission, underreporting, or even self-censorship by the reporter or publisher.
Steve and Mischa discuss the urgency of getting the public to understand the genocide in Gaza, and crucial for Americans to see their government’s role in it.
They look at the challenges faced by independent press, as well as special problems of news deserts. They also talk about the need for media literacy while much of the public relies on social media, where algorithms play a suppressive role.
Mischa Geracoulis is a media literacy expert, writer, and educator, serving as Project Censored’s curriculum development coordinator. Mischa is on the editorial boards of the Censored Press and the Markaz Review.
@MGeracoulis, @ProjectCensored on Twitter
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Steve’s guest this week is Dirk Ehnts, a lecturer and author
who specializes in modern monetary theory (MMT). They discuss Dirk's new book,
"A Simple Guide to the Monetary System," which aims to simplify the
often complex concepts of MMT.
They discuss the significance of the Copernican turn to MMT,
which refers to the shift in perspective that occurred during the COVID-19
pandemic. Dirk explains that the massive increase in government spending and
the lack of inflationary effects challenged conventional economic theories that
had previously dismissed MMT.
Dirk explains the theory behind inflation targeting and how
it has failed to deliver on its promises of price stability and full
employment. He also highlights the role of trade policy and income inequality
in shaping economic outcomes, pointing out that these factors are often
overlooked in favor of focusing solely on interest rates and inflation.
The conversation shifts to the rise of the BRICS
countries (Brazil, Russia, India, China, and South Africa) and the geopolitical
battles that have influenced international trade. They discuss the idea of
losing faith in the US dollar as the primary world reserve currency and the
potential impact on global trade.
Dirk emphasizes that the public needs to understand how
money and resources interact in order to find solutions to problems like
climate change. He believes that as more people become aware of MMT and its
potential policies, there will be a demand for change.
Dirk Ehnts is a German heterodox economist.
He is one of the leading proponents of Modern Monetary Theory in Europe. Ehnts
is a member of the standing field committee History of Economic Thought of the
German economists association. Every summer since 2016 Ehnts has held a course
on MMT at the Summer School of Maastricht University. In February 2019, he
organized the 1st European MMT Conference. He is also a lecturer at the MMT
summer school at the University of Poznan in Poland.
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When corporations are guilty of poisoning the population, it is newsworthy. When state and local governments are complicit, it is newsworthy. Yet the US media refuses to cover some of the most scandalous and tragic stories of our time, despite overwhelming evidence of corporate and government culpability.
Jordan Chariton, CEO of Status Coup, has many years of experience working for both mainstream and independent news organizations. He and Steve discuss the media’s role in perpetuating the distorted narrative. If they’re not ignoring the facts, they’re misrepresenting them.
Jordan talks about his continuing coverage of the Flint water crisis and the East Palestine train derailment. He describes the case of Graphic Packaging International in Kalamazoo, Michigan, where a paper mill has been releasing deadly gases into a poor black community for decades. Despite complaints and environmental violations, the plant has not been shut down.
He finds himself waging war on two fronts; after digging up the truth he struggles to get other media to help spread the information. He and Steve highlight the gatekeeping role of social media algorithms and clickbait in determining what news gets attention.
Jordan also mentions his upcoming book, "We the Poisoned," which exposes the Flint water crisis cover-up and the poisoning of 100,000 Americans.
Jordan Chariton, Status Coup CEO, is an independent progressive journalist who has worked inside and outside the belly of the corporate media beast for over a decade. He worked at Fox, MSNBC, and TYT, before starting Status Coup.
@JordanChariton on Twitter
@StatusCoup
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**On Tuesday evening we’re gathering for a listening party and discussion of this episode of the podcast. Get the Zoom link here https://realprogressives.org/event/macro-n-chill-284/
If anyone still thinks adopting the Euro was a good idea, this episode should set you straight.
Writer and journalist Thomas Fazi joins Steve to talk about the critical issues surrounding the European project, beginning with elite reaction to the recent election of Marine Le Pen in France, which Thomas calls a script that, as an Italian, he has seen play out many times:
“And that is one where as soon as a “populist” or “anti-establishment” government comes into power, or has a good chance of coming to power, as Le Pen does now ... then the kind of democracy-proofing mechanisms of the European Union, and of the Euro, kick into action.”Markets begin selling off the bonds of the country in question, in this case France, because they’re said to be spooked by the election results. The mainstream media frames this as the market’s natural reaction to “irresponsible” politicians gaining power.
“But in fact, this is a very simplistic narrative, because, as MMT teaches us, it's the central bank that ultimately controls the interest rates on the government bonds...markets can only spook governments and countries, and can only put [financial] pressure on countries, so long as a central bank allows markets to do it.”The European Central Bank has every interest in using financial markets to discipline governments, ensuring they don’t stray off the neoliberal path.
The discussion goes into the US role in European geopolitics, the importance of economic and industrial sovereignty, and the negative impacts of relying on imports and being subordinate to the US. They go into the purpose of the bombing of the Nord Stream gas pipeline, the petrodollar system, and the destruction of Ukraine.
They also question the MMT community’s disturbing reluctance to speak out on geopolitics, especially the ongoing genocide in Gaza.
Thomas Fazi is a critically-acclaimed writer and journalist. His books include The Battle for Europe: How an Elite Hijacked a Continent — and How We Can Take It Back (Pluto Press, 2014), Reclaiming the State: A Progressive Vision of Sovereignty for a Post-Neoliberal World (co-authored with Bill Mitchell; Pluto Press, 2017) and The Covid Consensus: The Global Assault on Democracy and the Poor — A Critique from the Left (co-authored with Toby Green; 2023). He is the co-director of Standing Army (2010), an award-winning feature-length documentary on US military bases featuring Gore Vidal and Noam Chomsky; His articles have appeared in numerous online and printed publications. He is a columnist for the British magazine UnHerd and a contributing editor for the American magazine Compact.
@battleforeurope on Twitter
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