Two powerful and diametrically opposed forces are shaping the economy.
On the one hand is inflationary economic policy, which keeps the price of assets like real estate and stocks rising ever higher, but at the expense of savings as the value of currency depreciates.
On the other is technology-wrought deflation. As technology increases its capacity exponentially, it causes everything it touches to be less expensive.
Jeff Booth is the author of “The Price of Tomorrow: Why Deflation Is the Key to an Abundant Future.” In this conversation, he and NLW discuss:
How today’s system came to be designed
Why policy makers are terrified of deflation
Why inflationary policy punishes savers and forces them into riskier markets
How policy that prioritizes asset holders over savers has significantly exacerbated inequality
Why each dollar of debt is producing less real economic growth than ever before
Why proposed “solutions” like MMT and UBI paper over the root causes of the problem
Senator Josh Hawley of Missouri wants the U.S. to exit the World Trade Organization, but it's not clear how Americans would benefit. Dan Ikenson comments.
It’s just the three of us this episode, chatting about soggy bread and soggier humans—and all things China, America’s best frenemy and the official scapegoat of the 2020 election.
1:00 - What's the deal with focaccia? Tammy loves it, but Jay and Andy associate it with terrible sandwiches on Manhattan’s Upper West Side.
3:17 - The Goopy cook and columnist Alison Roman got semi-canceled last week. We unwisely weigh in on this racialized controversy among wealthy celebrity foodies and lifestyle-brand influencers.
7:43 - In honor of Asian American Pacific Islander heritage month, we debate the utility of panels. Why so many? Are they capable of tackling broader structures and patterns, or do they necessarily champion capitalistic upward mobility? Also: the historian checklist of Yellow Peril, the 1882 Chinese Exclusion Act, and the 1982 murder of Vincent Chin; the meaning and coherence of “AAPI”; and the often reactionary history of global pan-Asianism.
24:10 - Trump is predictably blaming China for Covid-19 and everything wrong with his administration, and the Republicans have circulated a template for anti-Beijing electioneering. What does this leaked GOP strategy brief (aka the O’Donnell Memo) say? And why have the Democrats, too, gone all in on China bashing? Hint: polling numbers. Also - What really happened in China at the start of the pandemic? Is “wet market” out and “bat laboratory” in? Bonus: how US nationalism produces Chinese patriotism and whether we’re headed for another Cold War.
ABOUT US
Time to Say Goodbye is a podcast—with your hosts, Jay Caspian Kang, Tammy Kim, and Andy Liu. We launched this thing because, like you, we’ve been sheltering in place and wanted an outlet for our thoughts on the coronavirus, Asia, geopolitics, and Asian Americans.
A short introduction to your hosts:
Jay Caspian Kang is a writer-at-large for the New York Times Magazine and the author of the forthcoming book The Loneliest Americans.
E. Tammy Kim is a magazine reporter, a contributing opinion writer at the New York Times, and a retired lawyer. She co-edited the book Punk Ethnography.
Andrew Liu is a historian of modern China. He wrote a book called Tea War, about the history of capitalism in Asia. He remains a huge Supersonics fan
This is a public episode. If you'd like to discuss this with other subscribers or get access to bonus episodes, visit goodbye.substack.com/subscribe
As governments work to fight COVID-19 and industries struggle to survive, more and more people are concerned society will never actually return to normal. World leaders have been disappearing (and reappearing). Millions are unemployed. Governments and tech companies are rolling out vast surveillance schemes that would make a supervillain blush. And, around the world, people are wondering -- did we start fighting this too late? Are we opening too soon? Tune in to learn more in part four of this continuing series on the coronavirus pandemic.
On May 7, 2020, the Supreme Court released the decision in United States v. Sineneng-Smith. By a vote of 9-0, the judgment of the U.S. Court of Appeals for the Ninth Circuit was vacated and the case remanded. Although every member of the Court joined Justice Ginsburg's opinion, Justice Thomas also issued a concurring opinion indicating his doubt about the validity of the overbreadth doctrine. To discuss the cases, we have Brian M. Fish, Special Assistant, United States Attorney, Baltimore, Maryland. As always, the Federalist Society takes no particular legal or public policy positions. All opinions expressed are those of the speakers.
In today's episode of Life Interrupted: A first pregancy is normally filled with a lot of excitment but also a lot of anxiety. So what's it like to bring a baby into the world during a global pandemic?
In today's episode of Life Interrupted: A first pregancy is normally filled with a lot of excitment but also a lot of anxiety. So what's it like to bring a baby into the world during a global pandemic?
House Democrats take up new aid package opposed by Republicans. University of CA to keep fall classes on-line. High school principal visits all 600 seniors. CBS News Correspondent Steve Kathan has today's World News Roundup.
After a series of government missteps, people in Britain—and, increasingly, outside it—are lambasting the covid-19 response. That has great reputational costs. In a story suited to a television drama, a Filipino network popular with the people but critical of the president has been forced off the air. And our columnist finds surprising modern resonance in a 1950s Argentinian novel.
For full access to print, digital and audio editions of The Economist, subscribe here www.economist.com/radiooffer
The criminal case against former Trump adviser Michael Flynn has been full of plot-twists. But the biggest about-face came last week, when the Department of Justice moved to drop the case entirely. Lawyers who had worked on the investigation registered their disgust by refusing to sign the motion. U.S. Attorney General William Barr says he hopes history will look kindly on his decision. Critics say the move undermines any future attempt to hold the Trump administration accountable.
Guest: Dahlia Lithwick, legal correspondent for Slate and host of the podcast Amicus.
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