QE infinity. Corporate bailouts. Nudgin UBI. The incredible economic phenomena going on now didn’t happen out of the blue. They are the byproducts of a key events spread across the 70 year history of the US dollar led global monetary system.
Luke Gromen is the founder of Forest From The Trees, a macro/thematic research firm. In this episode, Luke provides a TL;DR on those key events that got us to where we are today, including:
Bretton Woods and why the world went on a USD-based system rather than Keynes idea for a non-sovereign ‘bancor’ world reserve currency
The move to the Petrodollar in the 1970s
The financialization of commodities that started in the 1980s
The monetary policy vacuum after the Cold War ended
How a shift in executive compensation rules led to many of today’s problems with Wall Street
As anyone who's worked in a kitchen or the hospitality industry can readily attest, there's an entirely different world behind the doors of every kitchen, a world that most diners and restaurant patrons never see. Join the guys as they sit down with world famous chefs Hugh Acheson and Richard Blais to learn more about what really happens behind the scenes in restaurants and cooking shows, as well as how the industry has been been affected by the coronavirus pandemic.
On March 23, 2020, the Supreme Court held by a vote of 6-3 that the federal Due Process Clause does not require a state to adopt an insanity test that turns on a defendant’s ability to recognize that his or her crime was morally wrong. In an opinion written by Justice Kagan, the Court reaffirmed its 1968 plurality opinion in Powell v. Texas, 392 U. S. 514, declaring that criminal responsibility "is animated by complex and ever-changing ideas that are best left to the States to evaluate and reevaluate over time." The Court explained that the relationship between mental illness and criminal liability, in particular, is an ongoing dialogue between the law and psychology, and the Due Process Clause does not require that dialogue be frozen in "a rigid constitutional mold." Justice Kagan’s majority opinion was joined by the Chief Justice and Justices Thomas, Alito, Gorsuch, and Kavanaugh. Justice Breyer dissented, joined by Justices Ginsburg and Sotomayor. To discuss the case, we have GianCarlo Canaparo, Legal Fellow at the Heritage Foundation.
Even if an immigration ban made sense at this point in a global pandemic, it would harm the economic recovery while doing very little to stem the spread of the coronavirus. Alex Nowrasteh discusses the President's forthcoming executive order.
Reopening the economy brings cheers from some, concern from others. The Senate passes help for small businesses. At home tests for health care workers. CBS News Correspondent Steve Kathan has today's World News Roundup.
Even before the pandemic, companies were accused of returning too much money to shareholders. As a recession looms, dividends and share buy-backs should be cut—but not everywhere. Coral bleaching on the Great Barrier Reef is more widespread than ever, and each event makes a full recovery less likely. And the animals are out to play as humans are locked away.
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Beyond Meat and Oatly oat milk wanted to hang out in China, so they’re hitching a ride and hanging out at Starbucks’ house there. Local news is feeling more financial pressure than ever as local ads dry up — we have two ideas for how it can be saved. And DuPont is the oldest company we’ve ever covered on Snacks Daily, but its pivot is totally fresh.
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