Following the 2008 financial crisis, the Federal Reserve’s monetary policy placed much greater focus on stabilizing the market than on helping struggling Americans. As a result, the richest Americans got a lot richer while the middle class shrank and economic and wealth inequality skyrocketed. In Engine of Inequality, Karen Petrou offers pragmatic solutions for creating more inclusive monetary policy and equality-enhancing financial regulation as quickly and painlessly as possible. Instead of proposing legislation that would never pass Congress, the author provides an insider's look at politically plausible, high-impact financial policy fixes that will radically shift the equality balance. Offering an innovative, powerful, and highly practical solution for immediately turning around the enormous nationwide problem of economic inequality, this groundbreaking book:
Presents practical ways America can and should tackle economic inequality with fast-acting results;
Provides revealing examples of exactly how bad economic inequality in America has become no matter how hard we all work;
Demonstrates that increasing inequality is disastrous for long-term economic growth, political action, and even personal happiness;
Explains why your bank's interest rates are still only a fraction of what they were even though the rich are getting richer than ever, faster than ever;
Reveals the dangers of FinTech and BigTech companies taking over banking; Shows how Facebook wants to control even the dollars in your wallet; and
Discusses who shares the blame for our economic inequality, including the Fed, regulators, Congress, and even economists.
Engine of Inequality: The Fed and the Future of Wealth in America (Wiley, 2021) should be required reading for leaders, policymakers, regulators, media professionals, and all Americans wanting to ensure that the nation’s financial policy will be a force for promoting economic equality.
Stephen Pimpare is director of the Public Service & Nonprofit Leadership program and Faculty Fellow at the Carsey School of Public Policy at the University of New Hampshire.
(Encore episode.) As sea levels rise from climate change, coastal communities face a greater risk of chronic flooding. Climate scientist Astrid Caldas and her colleagues have looked at where it's happening now and where it could happen in the future as the tides keep getting higher.
A police officer shot and killed 20-year-old unarmed Black man Daunte Wright in a Minneapolis suburb this Sunday, just a few miles from where former Minneapolis police officer Derek Chauvin is on trial for the murder of George Floyd. We discuss the details of the killing, plus the reactions from leaders and residents of the city.
The CDC’s director Dr. Rochelle Walesnky said that vaccines won’t solve the COVID crisis unfolding in Michigan, and suggested a lockdown instead. Surges like these are exactly how the virus mutates, which is part of the reason why Michigan’s Governor Gretchen Whitmer needs to act to stop things from getting worse.
And in headlines: a shooting at a school in Tennessee, a volcano continues to erupt in St. Vincent, and Will Smith pulls his movie out of Georgia.
Show Notes:
The Appeal, "What Traffic Enforcement Without Police Could Look Like" – https://theappeal.org/traffic-enforcement-without-police/
Danhof joins “The Daily Signal Podcast” to discuss the ways in which Stop Corporate Tyranny is working to end the left’s influence on American companies, and how you can be a part of the movement for change.
We also cover these stories:
The National Guard will increase its presence in Minnesota after riots broke out following a police shooting outside Minneapolis.
Arizona Gov. Doug Ducey signs significant election legislation into law.
Dr. Anthony Fauci says it’s possible to still be infected with COVID-19 after receiving the vaccine.
Following a notorious case of election fraud in Bladen County, North Carolina, in 2018, the reporter Zoe Chace gets an invitation from Horace Munn, the leader of the Bladen County Improvement Association PAC, a Black political advocacy group whose name was dragged into the scandal. Horace asks Zoe to come down and investigate for herself and find out who is really cheating.
Adam McKay stops by the pod to hear Felix’s pitch for a political rom-com, talk presidential animals, and discuss his new podcast Death at the Wing. Death at the Wing uses a series of deaths among NBA players in the 80’s as a lens to discuss the Reagan revolution, the war on drugs, and America’s shifting social and political landscape during that era. We get into all those issues with Adam, plus raccoons, tapirs, and samurai swords.
Check out Death at the Wing here: https://www.threeuncannyfour.com/show/death-at-the-wing/
Dave Winer wrote a fun piece on the lost apps of the 80s. We explore the paradox of software that is "too good" to become popular among mainstream consumers.
Microsoft has been releasing new versions of its flagship flight simulator each year for a whopping 38 years now. Now we know what makes it seem so very, very real. But just how big can that next patch be?
Another day, another data breach. At this point, we've become numb to the notion that our identity is compromised. Is acceptance better for your health than constantly being on guard? See for yourself.
Governor Tony Evers is not messing around when it comes to Sidney Powell's evidence-free conspiracy nonsense. He has filed a motion for sanctions that just demolishes Powell for being a total hack, liar, and terrible lawyer. It's magnificent, and Andrew breaks it down for us! After that, we've got some follow up on Uzuegbunam v Preczewski (the one where Andrew sided with John Roberts.) Was Andrew wrong? Find out!