An economics, investment, trading and policy blog with a focus on Modern Monetary Theory (MMT). We seek the truth, avoid the mainstream and are virulently anti-neoliberalism.
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Thursday, April 7, 2011
I will be on Fox Business this evening at around 8:30pm EDT.
I will be on "Freedom Watch" on Fox Business tonight (Thursday, April 7) at 8:30pm or shortly thereafter. Please try to watch if possible.
All he could come up with was "it's a non sequitur"? WhaaaatTF? As Mike said it's an Accounting Identity, go back to school and take some Econ/Acct 101.
And "The Judge" should stick to matters of constitutional law and NOT economics... US govt liabilities need to stay established in order for wealth to stay in the non-govt sector Judge Judy!
Mike why dont these people listen to you? Do you try to tell the judge how to interpret constitutional SCOTUS rulings? Why does he think he is the expert when it comes to macro?
The real problem is that Mike spoke over their heads.
Nothing he said was complicated, but we're not exactly dealing with deep intellectuals, especially vis-a-vis economics, on that panel or in the audience and they don't give Mike enough time to lay his perspective out. This is very counter-intuitive to most people, I imagine, even though the economics are very clear.
What's really needed is a series like Milton Friedman's Free to Choose, but from Mike's perspective.
I believe Mike repeatedly pitched that kind of show to Fox and CNBC with no takers sadly. That's the kind of stuff Mike did when he had his radio show a while back. That really was a great show Mike did right from Wall Street....
Tho I think Fox is dumping Glenn Beck and MSNBC dumped Olbermann so maybe there is going to be a shift towards more intellectual programming to an extent...I hope....
But Clayman and the other guy next to Mike are not "pedestrians" in Econ and policy, they should know better....
Whatever their supposed qualifications, almost no commentators in the media seem to know much about economics. Among regulars on CNBC, maybe Steve Liesman? Mike's the only one I can think of on Fox.
Then you have Krugman, who's usually great, obviously, and people like Reich, who's a somewhat regular weekly guest on CNBC and elsewhere.
What's worse is that perhaps the vast majority of economic commentators aren't even economists and have little or no hope of even understanding what Krugman says, much less making the MMT leap. Of course Krugman's differences with MMT, as he stated, really don't amount to much when it comes to current policy.
You're right. For as long as I have been doing this, I am still not very effective at coming up with effective sound bites to counter the misinformation. And it all has to be done very quickly. I'll try again today in my weekly debate with Charlie Gasparino on Fox.
Speaking of radio, have you all ever considered the podcast format? I have no knowledge of the mechanics, but it sure seems to be popular. Russ Roberts at George Mason does EconTalk. I listened to his podcast with Steve Fazzari of Wash. U. on Keynes and business cycles. In that format, you can nuance your argument any way you deem appropriate. And you can listen in the car or on a walk. Just a thought.
tell em like it is
ReplyDeletewhy would anyone raise interest rates when they can set them where they want ?
so you can pay 10 times more in interest rate alone ??????
what external force is there telling us where to set them ?
it's only junk debt when Ron Paul takes over the Fed and puts us back on a gold standard.
Austrian school is kaputt !
Set them free, Mike.
ReplyDelete"The truth shall make you free."
(Jn 8:32)
Mike,
ReplyDeleteThat guy to your right was OWNED!
All he could come up with was "it's a non sequitur"? WhaaaatTF? As Mike said it's an Accounting Identity, go back to school and take some Econ/Acct 101.
And "The Judge" should stick to matters of constitutional law and NOT economics... US govt liabilities need to stay established in order for wealth to stay in the non-govt sector Judge Judy!
Mike why dont these people listen to you? Do you try to tell the judge how to interpret constitutional SCOTUS rulings? Why does he think he is the expert when it comes to macro?
Keep up the heat Mike!!
The real problem is that Mike spoke over their heads.
ReplyDeleteNothing he said was complicated, but we're not exactly dealing with deep intellectuals, especially vis-a-vis economics, on that panel or in the audience and they don't give Mike enough time to lay his perspective out. This is very counter-intuitive to most people, I imagine, even though the economics are very clear.
What's really needed is a series like Milton Friedman's Free to Choose, but from Mike's perspective.
Anti,
ReplyDeleteI believe Mike repeatedly pitched that kind of show to Fox and CNBC with no takers sadly. That's the kind of stuff Mike did when he had his radio show a while back. That really was a great show Mike did right from Wall Street....
Tho I think Fox is dumping Glenn Beck and MSNBC dumped Olbermann so maybe there is going to be a shift towards more intellectual programming to an extent...I hope....
But Clayman and the other guy next to Mike are not "pedestrians" in Econ and policy, they should know better....
Resp,
Matt,
ReplyDeleteWhatever their supposed qualifications, almost no commentators in the media seem to know much about economics. Among regulars on CNBC, maybe Steve Liesman? Mike's the only one I can think of on Fox.
Then you have Krugman, who's usually great, obviously, and
people like Reich, who's a somewhat regular weekly guest on CNBC and elsewhere.
What's worse is that perhaps the vast majority of economic commentators aren't even economists and have little or no hope of even understanding what Krugman says, much less making the MMT leap. Of course Krugman's differences with MMT, as he stated, really don't amount to much when it comes to current policy.
Anti,
ReplyDeleteYou're right. For as long as I have been doing this, I am still not very effective at coming up with effective sound bites to counter the misinformation. And it all has to be done very quickly. I'll try again today in my weekly debate with Charlie Gasparino on Fox.
Matt,
ReplyDeleteThe beauty of radio is that you have time to develop and delve into these concepts. TV is not like that.
Speaking of radio, have you all ever considered the podcast format? I have no knowledge of the mechanics, but it sure seems to be popular. Russ Roberts at George Mason does EconTalk. I listened to his podcast with Steve Fazzari of Wash. U. on Keynes and business cycles. In that format, you can nuance your argument any way you deem appropriate. And you can listen in the car or on a walk. Just a thought.
ReplyDelete