Economy

Show Details for the week of August 14th, 2017

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On The Monitor this week:

  • Interfering in Venezuela while accusing Russia of interfering here – Dan Kovalik
  • Understanding Brexit, Trump, and Austerity – Mark Blyth

More about this week’s guests:

71hufpekhxl-_ux250_Dan Kovalik teaches international human rights at the University of Pittsburgh School of Law. He is Senior Associate General Counsel of the United Steelworkers, AFL-CIO (USW). He has worked for the USW since graduating from Columbia Law School in 1993. While with the USW, he has served as lead counsel on cutting-edge labor law litigation, including the landmark NLRB cases of Lamons Gasket and Specialty Health Care. He has also worked on Alien Tort Claims Act cases against The Coca-Cola Company, Drummond and Occidental Petroleum – cases arising out of egregious human rights abuses in Colombia. The Christian Science Monitor, referring to his work defending Colombian unionists under threat of assassination, recently described Mr. Kovalik as “one of the most prominent defenders of Colombian workers in the United States.” Mr. Kovalik received the David W. Mills Mentoring Fellowship from Stanford University School of Law and was the recipient of the Project Censored Award for his article exposing the unprecedented killing of trade unionists in Colombia. He has written extensively on the issue of international human rights and U.S. foreign policy for the Huffington Post and Counterpunch and has lectured throughout the world on these subjects. He is also the author of The Plot to Scapegoat Russia: How the CIA and the Deep State Have Conspired to Vilify Russia. He was recently in Venezuela and contrasts focusing on any possible allegation regarding Russian interference in the 2016 U.S. election, while the U.S. government is openly getting away with interfering in Venezuela and elsewhere.

blythMark Blyth is a political economist whose research focuses upon how uncertainty and randomness impact complex systems, particularly economic systems, and why people continue to believe stupid economic ideas despite buckets of evidence to the contrary. He is the author of “Capitalism in Crisis: What Went Wrong and What Comes Next” Foreign Affairs, Summer 2016, “Ideas and Historical Institutionalism.” Contribution to the Oxford Handbook of Historical Institutionalism (New York: Oxford University Press 2016) With Oddny Helgadottir and William Kring, “The New Ideas Scholarship in the Mirror of Historical Institutionalism: A Case of Old Whines in New Bottles?” European Journal of Public Policy, December 2015, “Just Who Put You in Charge? We Did: Credit Rating Agencies and the Politics of Ratings,” chapter for Alexander Cooley (ed.), Rankings and Ratings Organizations and Global Governance (Cambridge University Press 2015) (with Rawi Abdelal), The Future of the Euro ((co-editor with Matthias Matthijs) New York: Oxford University Press 2015).

Show Details for the week of July 24th, 2017

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On The Monitor this week:

  • Christopher Wray is President Trump’s nominee for FBI Director. He was unanimously approved for a full Senate confirmation hearing before the August recess. We look at the issues beyond the allegations of Russian “meddling” with Emily Berman
  • Military Budget proposals of at least $600 billion per year are working their way through Congress.Although President Trump promised to avoid unnecessary wars, he still is seeking a major increase in the already gigantic U.S. military budget, a risky contradiction, says Ivan Eland.

More about this week’s guests:

Emily Berman

Emily Berman is an assistant professor of law at the University of Houston’s Law Center. Berman’s scholarship explores the relationships among government institutions in the development, implementation, and oversight of national security policy. In particular, she focuses on the implications of the changes wrought on domestic laws and institutions by the national security state and notes the need for institutional reforms that both remain faithful to fundamental legal principles and take account of the unique legal and policy challenges posed by domestic counterterrorism policy. Prior to joining the University of Houston Law Center faculty in the fall of 2014, she taught for two years as a visiting assistant professor at Brooklyn Law School. She previously was a Furman Fellow and Brennan Center Fellow at New York University School of Law and held positions as counsel and Katz Fellow at the Brennan Center where she developed policy recommendations, drafted reports, and engaged in advocacy regarding U.S. national security policy and its impact on civil liberties. After graduating from law school, Berman clerked for the Hon. John M. Walker, Jr. of the Second Circuit Court of Appeals. Berman’s work has been published in the Washington & Lee Law Review, Fordham Law Review, George Mason Law Review, Florida State University Law Review, New York University Law Review, and her opinion pieces have appeared in The Atlantic Online, the National Law Journal, Legal Times Online, and CNN.com, among others. Berman teaches National Security Law and Constitutional Law.

Ivan Eland is Senior Fellow and Director of the Center on Peace & Liberty at the Independent Institute. Dr. Eland is a graduate of Iowa State University and received an M.B.A. in applied economics and a Ph.D. in Public Policy from George Washington University. He has been Director of Defense Policy Studies at the Cato Institute, and he spent 15 years working for Congress on national security issues, including stints as an investigator for the House Foreign Affairs Committee and Principal Defense Analyst at the Congressional Budget Office. He also has served as Evaluator-in-Charge (national security and intelligence) for the U.S. General Accounting Office (now the Government Accountability Office), and has testified on the military and financial aspects of NATO expansion before the Senate Foreign Relations Committee, on CIA oversight before the House Government Reform Committee, and on the creation of the Department of Homeland Security before the Senate Judiciary Committee. Dr. Eland is the author of Partitioning for Peace: An Exit Strategy for Iraq, Recarving Rushmore: Ranking the Presidents on Peace, Prosperity, and Liberty, The Empire Has No Clothes: U.S. Foreign Policy Exposed and Putting “Defense” Back into U.S. Defense Policy, as well as The Efficacy of Economic Sanctions as a Foreign Policy Tool. He is a contributor to numerous volumes and the author of 45 in-depth studies on national security issues. His articles have appeared in American Prospect, Arms Control Today, Bulletin of the Atomic Scientists, Emory Law Journal, The Independent Review, Issues in Science and Technology (National Academy of Sciences), Mediterranean Quarterly, Middle East and International Review, Middle East Policy, Nexus, Chronicle of Higher Education, American Conservative, International Journal of World Peace, and Northwestern Journal of International Affairs. Dr. Eland’s popular writings have appeared in such publications as the Los Angeles Times, San Francisco Chronicle, USA Today, Houston Chronicle, Dallas Morning News,New York Times, Chicago Sun-Times, San Diego Union-Tribune, Miami Herald, St. Louis Post-Dispatch, Newsday, Sacramento Bee, Orange County Register, Washington Times, Providence Journal, The Hill, and Defense News. He has appeared on ABC’s World News Tonight, NPR’s Talk of the Nation, PBS, Fox News Channel, CNBC, Bloomberg TV, CNN, CNN Crossfire, CNN-fn, C-SPAN, MSNBC, Canadian Broadcasting Corp. (CBC), Canadian TV (CTV), Radio Free Europe, Voice of America, BBC, and other local, national, and international TV and radio programs.He recently wrote the piece “Trump’s Empty Promise on War Savings

Show Details for the week of June 12th, 2017

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On The Monitor this week:

  • Mike Dieterich on the lost economic opportunities caused by the withdrawal from the Paris Climate Agreement.
  • Joe Lauria on Hillary Clinton’s election loss, through her own words and the thoughts of some her closest aides.

More about this week’s guests:

1f51030Mike Dieterich is a LEED Accredited Professional, environmental scientist, award winning producer, and bestselling author. He has worked in the sustainability industry with local-small businesses to state agencies, federal groups, international companies and nonprofit organizations. He is the author of Renew & Sustain: A cutting edge approach to being socially responsible, environmentally conscious, and incredibly profitable for businesses, schools, and government.

457e3201287f2fc0c01a31887f28e325Joe Lauria is a veteran foreign-affairs journalist. He has written for the Boston Globe, the Sunday Times of London and the Wall Street Journal among other newspapers. He is author of the just-released book How I Lost By Hillary Clinton. Quote: “Without a shred of evidence Clinton claimed on Wednesday night that there were 1,000 Russian agents working with Trump to defeat her. She blamed, ‘The kinds of things that were in WikiLeaks — you laugh, but people were obsessing over this stuff. Obsessing over it.’ The kind of things that were in WikiLeaks were her own words, which she ought to read in my new book to understand why she really lost.” Vox reports: “Hillary Clinton blames everyone but herself for her 2016 loss.” From the book description: Clinton’s “own words, found in this book, tell the real story of how it happened. The title includes Clinton’s byline as she has unwittingly written the story of her own defeat in her speeches and her emails and those of her campaign staff. “At a time of widespread dissatisfaction with business-as-usual politics, the Democrats chose to field a quintessential insider. Her campaign dwelt little on policies, focusing overwhelmingly on the personality of her opponent. That this strategy was a failure is an understatement. Losing an election to someone with as little competence or support from his own party as Donald Trump marked an extraordinary fiasco. The refusal of the Democratic leadership to identify the real reasons for their defeat is not just a problem of history. If Democrats persevere with a politics that prioritizes well-off professionals rather than ordinary Americans, they will leave the field open to right-wing populism for many years to come. Drawing on the WikiLeaks releases of Clinton’s talks at Goldman Sachs and the emails of her campaign chief John Podesta, as well as key passages from her public speeches, How I Lost By Hillary Clinton also includes extensive commentary by award-winning journalist Joe Lauria, and a foreword by Julian Assange, editor-in-chief of WikiLeaks.”

Show Details for the week of May 1st, 2017

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On The Monitor this week:

Since we have passed the “first 100 days” into the Trump administration, it is time to assess two key issues:

  1. As a candidate Trump often said he wanted to run the country like a business. His business acumen is one of his supposed strong suits. So what exactly does “Trumponomics” mean? And can “Trumponomics” extend the economic recovery that started after the 2008 global recession?
  2. The Democratic Party was mired in internal conflict both before and since election day. Revelations of DNC officials doing everything they could to tip the balance in favor of a Clinton nomination are continuing to emerge. What is the current state of the Democratic Party and its efforts towards party unity?

We discuss these issues with Stephanie Kelton and Robert Borosage

More about this week’s guests:

keltonStephanie Kelton is professor of economics at the University of Missouri-Kansas City. She served as chief economist on the U.S. Senate Budget Committee in 2015 and then became an economic advisor to the Bernie Sanders 2016 presidential campaign. She was the Founder and Editor-in-Chief of the top-ranked blog New Economic Perspectives and a member of the TopWonks network of the nation’s best thinkers. In 2016, POLITICO recognized her as one of the 50 people across the country who is most influencing the political debate. Her book, The State, The Market and The Euro (2001) predicted the debt crisis in the Eurozone, and her subsequent work correctly predicted that: (1) Quantitative Easing (QE) wouldn’t lead to high inflation; (2) government deficits wouldn’t cause a spike in U.S. interest rates; (3) the S&P downgrade wouldn’t cause investors to flee Treasuries; (4) the U.S. would not experience a European-style debt crisis. She recently wrote the paper “Can ‘Trumponomics’ extend the recovery?

Also see: “Bernie Sanders’ Economic Advisor Shreds Trumponomics” in CounterPunch.

borosage-e1364403595308-220x150Robert Borosage writes a weekly column for The Nation magazine and is a senior advisor of People’s Action. He is the founder and president of the Institute for America’s Future and co-director of its sister organization, the Campaign for America’s Future. The organizations were launched by 100 prominent Americans to develop the policies, message and issue campaigns to help forge an enduring majority for progressive change in America. Mr. Borosage writes widely on political, economic and national security issues. He is a Contributing Editor at The Nation magazine, and a regular blogger at The Huffington Post. His articles have appeared in The American Prospect, The Washington Post,Tthe New York Times and the Philadelphia Inquirer. He edits the Campaign’s Making Sense issues guides, and is co-editor of Taking Back America (with Katrina Vanden Heuvel) and The Next Agenda (with Roger Hickey).

“For all the urgent pleas for unity in the face of Trump, the party establishment has always made it clear that they mean unity under their banner,” Borosage wrote in a recent article. “That’s why they mobilized to keep the leader of the Congressional Progressive Caucus, Representative Keith Ellison, from becoming head of the DNC. It’s why the knives are still out for Sanders and those who supported him.”

Borosage commented that “Democrats are in the midst of a major struggle to decide what they stand for and who they represent.” And he added: “Part of that is the debate over a bipartisan interventionist foreign policy that has so abjectly failed.”

Also see: ‘Shattered’ Reveals Clinton and Sanders Staffs Struck Deal to Hide Protests: Democratic National Convention reality much different than media coverage

Show Details for the week of February 6th, 2017

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On The Monitor this week:

  • A round up of US national security news with Jonathan Landay
  • William Black on the Trump administration’s dismantling of the Obama administration’s already insufficient post-2008 financial regulations

More about this week’s guests:

Jonathan Landay is a reporter for Reuters covering national security. He previously worked for McClatchy/Knight-Ridder, the Christian Science Monitor, and United Press International. Landay partnered with Warren Strobel on a series of stories skeptical of the George W. Bush administration’s claims about Iraq’s weapons of mass destruction as justification for war; they received the Raymond Clapper Memorial award from the Senate Press Gallery for their work. Landay, Marisa Taylor, and Ali Watkins were 2015 Pulitzer Prize finalists for their work on the Senate Intelligence Committee’s report regarding the CIA’s torture programs. You can read his latest stories here.
William K. Blackwilliam black's portrait, J.D., Ph.D. is Associate Professor of Law and Economics at the University of Missouri-Kansas City. Bill Black has testified before the Senate Agricultural Committee on the regulation of financial derivatives and House Governance Committee on the regulation of executive compensation. He was interviewed by Bill Moyers on PBS, which went viral. He gave an invited lecture at UCLA’s Hammer Institute which, when the video was posted on the web, drew so many “hits” that it crashed the UCLA server. He appeared extensively in Michael Moore’s most recent documentary: “Capitalism: A Love Story.” He was featured in the Obama campaign release discussing Senator McCain’s role in the “Keating Five.” (Bill took the notes of that meeting that led to the Senate Ethics investigation of the Keating Five. His testimony was highly critical of all five Senators’ actions.) He is a frequent guest on local, national, and international television and radio and is quoted as an expert by the national and international print media nearly every week. He was the subject of featured interviews in Newsweek, Barron’s, and Village Voice.

Show Details for the week of September 19th, 2016

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On The Monitor this week:
  • The Wells Fargo scandal and settlement with William Black
  • U.S. Violation of Syrian Ceasefire with Reese Erlich
More about our guests:

 

bill-black-0409_018_bwBill Black is an associate professor of economics and law at the University of Missouri Kansas City (UMKC). He was the executive director of the Institute for Fraud Prevention from 2005-2007. He previously taught at the LBJ School of Public Affairs at the University of Texas at Austin and at Santa Clara University, where he was also the distinguished scholar in residence for insurance law and a visiting scholar at the Markkula Center for Applied Ethics.

Background:

The Los Angeles Times reports this morning: “The Senate Banking Committee will hold a hearing Tuesday on aggressive sales tactics employed by Wells Fargo employees that led to a $185-million settlement package with federal and state regulators. Five senators requested a committee investigation into the bank’s pressure-cooker sales practices that pushed thousands of Wells Fargo employees to open as many as 2 million accounts that customers never asked for. Scheduled to testify at the hearing are John Stumpf, chief executive of the San Francisco-based bank, and Richard Cordray, director of the Consumer Financial Protection Bureau.”

Professor Black was litigation director of the Federal Home Loan Bank Board, deputy director of the FSLIC, SVP and general counsel of the Federal Home Loan Bank of San Francisco, and senior deputy chief counsel, Office of Thrift Supervision. He was deputy director of the National Commission on Financial Institution Reform, Recovery and Enforcement.

His book, The Best Way to Rob a Bank is to Own One (University of Texas Press 2005)

 

Reese Erlich is a veteran foreign correspondent. Erlich’s books include The Iran Agenda: The Real Story of U.S. Policy and the Middle East Crisis, Conversations with Terrorists: Middle East Leaders on Politics, Violence and Empire, Inside Syria: The Backstory of Their Civil War and What the World Can Expect.

Reese Erlich‘s history in journalism goes back 42 years. He first worked as a staff writer and research editor for Ramparts, an investigative reporting magazine published in San Francisco from 1963 to 1975. Today he works as a full-time print and broadcast, freelance reporter. He reports regularly for National Public Radio, CBC, ABC (Australia), Radio Deutche Welle and Market Place Radio. His articles appear in the SF Chronicle and Dallas Morning News. His television documentaries have aired on PBS stations nationwide.

Erlich’s book, Target Iraq: What the News Media Didn’t Tell You co-authored with Norman Solomon, became a best seller in 2003. The Iran Agenda: The Real Story of US Policy and the Middle East Crisis was published in 2007. Dateline Havana: The Real Story of US Policy and the Future of Cuba was published in 2009. Conversations with Terrorists: Middle East Leaders on Politics, Violence and Empire, was published in 2010. The paperback edition of Erlich’s book Inside Syria: The Backstory of Their Civil War and What the World Can Expect was published this week.

Erlich shared a Peabody Award in 2006 as a segment producer for Crossing East, a radio documentary on the history of Asians in the US. In 2004 Erlich’s radio special “Children of War: Fighting, Dying, Surviving,” won a Clarion Award presented by the Alliance for Women in Communication and second and third place from the National Headlines Awards.

Quote: “The U.S. bombed Syrian government soldiers and a Syrian military base, with estimates off 62-90 dead and over 100 wounded. The U.S. says the attack was accidental. However, on Sunday, Secretary of State John Kerry attacked the Assad regime for continuing its air strikes and for not allowing delivery of relief supplies to besieged cities — only briefly apologizing for the U.S.-caused death and destruction. The tone of the comments suggest the bombing raid was an intentional effort to pressure Assad and the Russians. Regardless of the intent, objectively the attacks are a huge setback to the announced U.S.-Russian ceasefire and proposed military cooperation against extremist rebels. The Russian government has called for a special meeting of the UN Security Council to discuss the matter.”

Show Details for the week of August 22nd, 2016

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On The Monitor this week:
  • On the Cynicism of the Clinton Foundation with Ken Silverstein
  • On America’s Racial Wealth Divide with Josh Hoxie
More about this week’s guests:
ken-silverstein-675Ken Silverstein is a Washington, D.C. based investigative reporter. He wrote the piece “Shaky Foundations: The Clintons’ so-called charitable enterprise has served as a vehicle to launder money and to enrich family friends” for Harper’s Magazine. He just launched Washington Babylon, which features “shockingly true stories of political sleaze.” He is also a columnist for the New York Observer and a contributing editor to VICE. You can read his full bio here.
Quote: “This move by the Clinton Foundation is an acknowledgement that they shouldn’t have done it in the first place. Further, it’s outrageous that they are saying they won’t take foreign money — if Hillary Clinton wins. So, they will keep taking it if she loses — perhaps to facilitate Chelsea Clinton’s political career? This is clearly a totally cynical political move. If Hillary Clinton wins, which seems incredibly likely now, the Clinton Foundation would have served its purpose. It helped portray them as do-gooders while they used it to solidify their corrupt brand of politics on the country and enriched their cronies.”
Silverstein has reported: “It is beyond dispute that former President Clinton has been directly involved in helping foundation donors and his personal cronies get rich. Even worse, it is beyond dispute that these very same donors and the Clintons’ political allies have won the focused attention of presidential candidate Hillary Clinton when she served as Secretary of State. Democrats and Clinton apologists will write these accusations off as conspiracy mongering and right-wing propaganda, but it’s an open secret to anyone remotely familiar with accounting and regulatory requirements for charities that the financial records are deliberately misleading.”

josh-hoxieJosh Hoxie is the director of the Project on Opportunity and Taxation at the Institute for Policy Studies. Josh joined the Institute for Policy Studies in August 2014 heading up the Project on Opportunity and Taxation. Josh’s main focus is on addressing wealth inequality through the estate tax, a levy on the intergenerational transfer of immense wealth. Josh grew up on Cape Cod, Massachusetts and attained a BA in Political Science and Economics from St. Michael’s College in Colchester, Vermont.

Josh worked previously as a Legislative Aide for U.S. Senator Bernie Sanders of Vermont, the longest serving independent in Congressional history, both in his office in Washington, DC and on his successful 2012 re-election campaign.

According to a new report, it would take the average black family 228 years to accrue the same amount of wealth that white families have today. The report is called The Ever-Growing Gap: Failing to Address the Status Quo Will Drive the Racial Wealth Divide for Centuries to Come . Josh is one of the main authors. You can read analysis of the report here by Chuck Collins (senior scholar at the Institute for Policy Studies where he directs the Program on Inequality and the Common Good (www.inequality.org) and Dedrick Asante-Muhammed (director of the Racial Wealth Divide Initiative at the Corporation for Enterprise Development).

The report release coincided with the 2nd anniversary of the shooting death of Michael Brown by a Ferguson, MO. police officer, which spawned the Black Lives Matter movement and calls for racial justice across all segments of society. Here’s a summary of key findings within the report:

  • “If current federal wealth-building policies remain in place, it will take the average African-American family 228 years to amass the same amount of wealth that white families have today and it will take Latino families 84 years to reach that goal
  • “By 2043, when households of color will constitute a majority of the U.S. population, the racial wealth divide between white households and African- American and Latino households will have doubled from about $500,000 in 2013 to $1 million.
  • “The Forbes 400 will see their average wealth skyrocket to $48 billion by 2043—more than eight times the amount they hold today. During that same period, the average wealth for white families will increase by 84% to $1.2 million compared to $165,000 for Latino families (69% growth) and $108,000 for African-American households (27% growth).”

The Corporation for Enterprise Development and IPS call for a range of reforms to address the problem, including fixing an “upside down” tax system that currently doles out more than half a trillion dollars annually to help primarily wealthy households get wealthier, while providing almost nothing to lower-income households.