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Guns and Butter - July 10, 2013 at 1:00pm

Guns and Butter, for July 10, 2013 - 1:00pm

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Guns and Butter

"The Commons, Banking In the Ivory Tower & Public-Private Partnerships" with Jim Hogue, Charlie Eaton and Darwin Bond Graham.  Ethan Allen on The Commons; Wall Street profits vs public capital at the University of California; conflicts of interest on the Board of Regents; interest rate swaps; privatization of the public finance system; Transportation Infrastructure Finance & Innovation Act; securitization; Port of Oakland; Doyle Drive, Presidio Parkway.

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Also consider Modern Money

Also consider Modern Money Theory, which is relevant to the issues around gratuitous debt in the face of monetary sovereignty, which means sovereign currency-issuers, such as the USA, face no insolvency risk nor fiscal constraints (only real resource constraints) and can always afford to spend in its own currency, which means a democratic state can always afford to hire the unemployed when the private sector won't, it can afford cradle-to-grave universal healthcare and education for all. Gov't can always afford to spend when the economy is operating under capacity or there is unemployment: For starters, see Warren Mosler's book The 7 Deadly Innocent Frauds of Economic Policy; Dr. L.R. Wray's Understanding Modern Money: The Key to Full Employment and Price Stability and also see Modern Monetary Theory: A Primer on Macroeconomics for Sovereign Monetary Systems; Wynny Godley's and Marc Lavoie's Monetary Economics: An Integrated Approach to Credit, Money, Inome, Production and Wealth; Dr. S. Kelton (see MediaRoots.org articles, such as "Modern Money Theory Explained" and sundry media presentations); et al.

It's not easy describing

It's not easy describing complex financial and monetary concepts and issues to the general public. But Guns and Butter is one of the best broadcasts around when it comes to honestly describing the socioeconomic forces, which dominate our lives. The recent public banking broadcasts have been inspiring and useful.

To avoid the atomisation of those of us fighting the good fight and to broaden our working-class solidarity, it seems useful to find connections. For example, I recommend relevant heterodox economics, esp. UMKC (see NewEconomicPerspectives.org) and esp. Dr. Michael Hudson (see Financial Capitalism and Its Discontents on the F.I.R.E. sector, its vanquishing of industrial capitalism, and its apparant goals of global neofuedalism and a fully privatised toll-booth economy owned by the rentier class after it seizes the commons).

Eaton did a very poor job of

Eaton did a very poor job of explaining those swaps. In fact I don't think he understands them himself other than believing that the good guys got screwed by the bad guys again.

Will you please provide an

Will you please provide an example(s) of how the "swaps" were mischaracterised or poorly explained?

I don't believe they were

I don't believe they were mischaracterized, I just wanted a clearer explanation. I'll swap you my Kobe Bryant jersey for your Lebron James or I'll swap you my 5%, 10 year bond for your 4%, 20 year. You see, I don't get it and the speaker never explained it clearly other than to say you got screwed giving me the Lebron for a Kobe.

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