Digby asks economist Stephanie Kelton to explain the debt ceiling. Digby, Susie Madrak & Stephanie Kelton discuss the fallacy of national debt and the so-called Grand Bargain. 12 min 32 sec. Listen
Excerpted from Sept 22 VS Sundays. Listen the full hour here.
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Stephanie Kelton, Ph.D. – Associate Professor and Chair of the Department of Economics at the University of Missouri-Kansas City; Editor-in-Chief of New Economic Perspectives; and a member of the TopWonks network of the nation’s best thinkers. 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.
digby — American political writer and founder of the liberal blog Hullabaloo, Digby has contributed to Campaign For America's Future's blog The Big Con, Salon Magazine, Huffington Post, Crooks and Liars and Firedoglake.
Susie Madrak – Journalist; Managing Editor at Crooks and Liars. Susie’s blog is Suburban Guerrilla at susiemadrak.com