David Beckworth on the Fed rate hike and lessons from Japan
ORIGINAL AIR DATE: DECEMBER 15, 2015
Boom Bust’s Edward Harrison sits down David Beckworth, assistant professor of economics at Western Kentucky University, to talk about the much anticipated decision by the Federal Reserve on whether or not to raise interest rates. David also explains why he thinks deflation, specifically in the case of Japan, is such a problem to deal with, and what takeaways the Fed can draw from the Japanese experience.
Government bonds across the Eurozone climbed to record levels on Thursday. Borrowing costs tumbled as investors started piling into bonds before the European Central Bank starts its bond-buying bonanza in March. Under the ECB’s quantitative easing program, 68 billion euro worth of debt securities will be purchased each month until September 2016. Many analysts believe that the ECB will struggle to find all the government bonds it needs, especially top-rated government bonds like those belonging to Germany. Erin weighs in.
Then, Erin is joined by Barry Eichengreen – professor of economics and political science at UC Berkeley and professor of American history and institutions at the University of Cambridge. Barry tells us that, if since 1974, only three countries in the world have run primary surpluses of five percent for a full decade, Greece has zero chance of being another one of them. He calls the Troika’s projections for Greece wholly unattainable. But Professor Eichengreen also gives us his take on whether Greece can attain a good economy through a growth agenda and outlines the big risks for Greece and the Eurozone as a whole going forward.
After the break, Erin sits down with RT correspondent Lindsay France to discuss the upcoming Mobile World Congress and the possibility of never having to deal with roaming charges again! Afterwards, Boom Bust producer Bianca Facchinei takes a look at what initially caused the growing cost of college and the effects we’ve seen from it so far.
And in The Big Deal, Erin and Edward Harrison talk about rent prices, student debt, unemployment and more. They hone in on one particular micro-apartment in New York City as emblematic of several interesting trends hitting millennials simultaneously. Take a look!
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As Western nations continue to hit Russia with sanctions in the wake of its recognition of the Donbass, region the nation has begun to look east to bolster its trade. We'll discuss the growing economic bonds between Russia and China. And the move from the Kremlin has shaken global markets as global markets have slumped since Russia's announcement. We'll break down the tremors ringing through markets. But it's not just stocks taking a dive on the Donbass recognition, Bitcoin has taken a beating as well, as the price is still sitting below 40 thousand.
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The EU is seeing major shake-ups! Eisa Ali breaks down Theresa May’s decision to not let Parliament vote on the Brexit deal! Across the channel in France, Charlotte Dubenskij helps us understand President Macron’s address and the Yellow Vest protests! Climate Change could see the US major financial downturn; Mollye Barrows helps us understand it! And Alex Mihailovich helps us understand the latest US-China trade spat! [1215]
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The TikTok saga is hitting the home stretch as the Trump administration is set to rule on the fate of the wildly popular video-sharing app. We analyze the future of the social media superstar and how China is responding to the move. Plus, the race for a vaccine is heating up as several candidates are offering promising results, but what does the timeline for a cure look like? And as the United States' economy tries to rebound in the wake of the ongoing COVID-19 pandemic, the nation's weekly initial jobless claims are still hovering above 800,000.
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The middle class is in a decline, author Devin Fergus explains to us how the world of hidden fees is costing U.S. consumers. Luxury goods are seeing a comeback in a post-financial crisis world but how have these top brands sustained themselves? Jeffrey Berk of Prive Porter explains. And ICO’s are the hot investment opportunity; Nicolette Kost de Sevres explains to Bart Chilton what regulators are doing to catch up this cryptocurrency based investment.
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Markets are continuing their swing amid the rising coronavirus fears. We take a look at the big picture and what could happen going forward. Plus, following the U.K.'s exit from the EU, the two are still hashing out some major issues; we break it down.
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Federal Reserve Chair Janet Yellen testifies on Capitol Hill touting the nation’s growing economy, but the impact isn’t reaching everyone. Manuel Rapalo breaks down what Yellen had to say. And Lindsay France goes more in depth with CEO of Euro Pacific Capital Peter Schiff. Mexico might be taking a stand against Donald Trump’s talk on NAFTA, one senator from Mexico wants to start buying corn from South America as an alternative. Then after the break, Brigida Santos tells us about the dam overflowing in Oroville, California and why state officials may have known about the dam’s issues going back 12 years.
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Today's show is about money.
In today's headline story, all eyes were fixed on Fed Chairwoman Janet Yellen, who delivered her first public remarks to the US House Financial-Services Committee. In addition, in a lawsuit filed on Monday, the non-profit group Better Markets has challenged the constitutionality of the $13 billion JPMorgan Chase mortgage settlement with the US Justice Department. And in Washington, Republican leaders in the House of Representatives agreed to advance legislation, raising Washington's borrowing authority without conditions. Erin Ade reports.
Then, Erin conducts a wide-ranging interview with economist Paul Craig Roberts, an Assistant Secretary of the Treasury in the Reagan Administration and a co-founder of Reaganomics. He has voiced his concerns about the strength of the US economy, US politics, and US civil liberties. Roberts also believes the US is playing fast and loose with the monetary system and the value of the dollar. He speculates that, as the German Bundesbank has begun repatriating its gold from overseas out of storage in places like the Federal Reserve, the Fed will not be able to make delivery because it doesn't physically possess the gold. Similarly, Roberts does not believe Gold ETF funds have enough physical gold to back their exchange traded fund shares.
Wrapping up our money theme, in today's "Big Deal", Erin and Boom Bust producer Edward Harrison discuss the outlawing of Bitcoin wallet apps on iOS, Apple's mobile platform, and the rise of ePayments in the mobile world.
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While the United States has had a swift vaccination process so far, Europe is seeing a struggle to deliver doses to its population, causing a rift between the United Kingdom and the mainland. Professor Richard Wolff joins the program to discuss the growing fracture and global hesitancy to adopt certain COVID-19 vaccines. (0:56) Plus, the global oil supply chain has been disrupted by a freak accident in the Suez Canal, causing Brent Crude prices to spike. Boom Bust's Christy Ai and David McAlvany of McAlvany Financial bring us the overview of the sector and the global race for green energy. (10:36) Nearly three months since the Capitol Hill riot, former US President Donald Trump is still barred from major social media platforms, but could that soon change? Boom Bust's Ben Swann lends his analysis to the recent announcement that Trump could be back with his own platform. (20:07)
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NO show does it like this. It’s TIME TO DO NEWS AGAIN with Rick Sanchez
News with Rick Sanchez: https://bit.ly/NRSSHOW
It’s her take on all things political and she presents ALL the angles: News.Views.Hughes with Scottie Nell Hughes, NVH: https://bit.ly/NVHSHOW
What’s your NEWS IQ? Give us 30 minutes, and we’ll take you across the globe!
In Question with Manila Chan, IQ: https://bit.ly/IQ_SHOW
Steve Malzberg sinks his teeth into the slander, hypocrisy, bias and lies of MSM. MMM…Delicious! Eat The Press: http://bit.ly/EatThePress
Candid conversations with the most outspoken guy in Hollywood! Dennis Miller + One! Dennis Miller Plus One: http://bit.ly/DennisMillerPlusOne
Let our TV time-machine bring you the week’s highlights and a closer look at the BIGGEST stories, Just Press Play: http://bit.ly/JustPressPlayShow
Yep, it’s Gov. Jesse Ventura and you’re living in his WORLD! Come along for the ride.
The World According To Jesse: http://bit.ly/WATJSHOW
They’re watching you. Are you watching them? Are you WATCHING THE HAWKS?
Watching The Hawks: http://bit.ly/WTHSHOW
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