[136] Thomas Palley on ECB policy + Keynes & Ladar Levison talks Govt Surveillance
Our lead story: The European Central Bank has introduced a number of different measures aimed at stimulating the Eurozone economy such as negative interest rates, and cheap long-term loans to banks. What does all of this mean? Erin takes a look.
Then we sit down with economist Dr. Thomas Palley to get his view on the ECB decision and explore distinctions between New Keynesian economists and Post Keynesian economists. After the break, we check in with Ladar Levison of Lavabit to discuss his run in with federal authorities on the one year anniversary of Snowden's revelations on the NSA.
In today's Big Deal, Edward Harrison and Erin continue the discussion of government surveillance, digital privacy, and encryption. Take a look.
After the financial crisis entered its most acute phase following the demise of Lehman Brothers in October 2008, central banks around the world - led by the US Federal Reserve - began a program of Quantitative Easing. QE -- whereby a central bank buys private-sector assets with newly printed reserve money -- is said to have helped overcome the financial crisis. The question is... at what cost? Writer and blogger Gonzalo Lira believes that the cost of ultra-easy monetary policy is high - and could be the demise of the US dollar.
Cullen Roche is the founding president of Orcam Financial Group and the brains behind noted financial blog "Pragmatic Capitalism." He is also a co-founder of a new school of economics called "Monetary Realism." Cullen has made it his mission to demystify the modern monetary system and deliver it to the public in layman's terms. In a recent blog post, he wrote about what he calls, "The Biggest Myths in Economics. And we speak with him about just that!
Boom Bust's Erin and Edward talk about many of the top Wall Street bankers whose firms were largely responsible for the recent financial crisis. In 2008, the US government began to step in, pumping $700 billion in bailout funds into the market in order to prevent catastrophe and save the companies. But many of the top bankers are now unemployed... yet apparently they are all still living a" Lifestyles of the Rich and Famous."
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Huawei is back in the crosshairs, as the U.S. continues to crack down on the telecom giant. In this episode, we clarify the charges and what they actually mean for both the company and consumers. Plus, amid the Carlos Ghosn saga and global uncertainty, Nissan's profit has slowed to recent lows. We take a look at what the future could hold for the auto giant.
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Donald Trump administration announces a new travel ban. Boom Bust’s Bianca Facchinei looks into the Greek economy to learn more about why the country performed worse than expected in 2016. If you own a smart phone, you likely know and understand the buying power is in your hand, Boom Bust’s Manuel Rapalo has that story. After the break, we take a look at how UBER is looking to keep the competition away. Finally, Larry Royer joins us to talk about the future war of automation in the world.
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A new report alleges the European Banking Authority bent rules to allow Deutsche Bank to perform better on a yearly stress test. Plus, the Nobel Prize committee awards Oliver Hart and Bengt Homstrom this year’s economics award. Edward Harrison has the details. Bianca Facchinei then looks at new data showing that the top 1% of American society has seen their income recover multiples more than the bottom 99%. Then, Alex Mihailovich joins from Toronto with the latest on Canadian airlines moving to restrict the use of the Samsung Galaxy Note 7 on their aircraft.
After the break, Steve Hanke, Professor of Economics at Johns Hopkins University, discusses how gold and oil prices are affecting each other. And finally, in The Big Deal, Ashlee Banks examines the just approved Turkish Stream pipeline project, signed today by Russian President Vladimir Putin and Turkish President Recep Erdogan.
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Rolling Stone Contributing Editor Matt Taibbi explains how hedge funds are charging high fees to manage pensions without the knowledge of investors. Erin Ade interviews Taibbi about the latest regarding alleged mismanagement of pension fund investment allocation.
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Protesters hit the streets of Greece, demanding changes to austerity measures mandated by the European Union and IMF. Plus, the European Central Bank’s Mario Draghi is extending the organization’s bond buying program through the end of 2017. Ameera David has the details. Then, Bianca Facchinei takes a look at new figures showing an increase in the number of factory workers leaving their jobs voluntarily. Afterwards, Ashlee Banks breaks down new cashier-less grocery store Amazon Go, which could upend an entire industry.
Following the break, Anthony Randazzo, director of economic research at the Reason Foundation, tells Ameera why he thinks Hillary Clinton would have been better for the budget than President-Elect Donald Trump, and whether or not the national debt is in fact a real issue. And finally, in The Big Deal, Edward Harrison offers analysis on the continuing fallout from massive automotive emissions fraud.
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A major Japanese cryptocurrency exchange is still reeling after a cyber attack has fleeced the site of $90 million. Boom Bust's Ben Swann and Christy Ai lend their insight to the hack. (00:54) Then we take a spin for a look at how global markets have performed over the week. (08:20) And technology has moved at a lightning pace, but have the ethics managed to keep up with the times? Filmmaker Sean Stone gives us his forecast for the future of the sector. (16:06)
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The US economy added 223,000 jobs last month according to data released Thursday by the Labor Department. Just a year ago, that number would have been considered a major achievement but today, economists are expecting more steady, increasing jobs growth. As for the unemployment rate, that ticked down to 5.%. Ameera David weighs in.
Then, Ameera is joined by Marshall Auerback – research associate at the Levy Economics Institute and fellow of Economists for Peace and Security. Marshall tells us which way he thinks the Greek people will vote in the upcoming referendum and gives us his take on Yanis Varoufakis’ pledge to resign if they vote yes.
After the break, Bianca Facchinei takes a look into the US Department of Justice investigation into whether major airlines colluded to fix prices. The probe became public after American Airlines, Delta Airlines, Southwest Airlines, and United Airlines received letters of civil investigative demands.
Afterwards, Ameera sits down with Erin Ade to talk about the 2010 Deepwater Horizon oil spill. The financial implications of the spill have finally been resolved after BP reached a settlement over state and federal claims.
And in The Big Deal, Ameera and Edward continue the discussion on Greece.
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