Macro N Cheese

Steven D Grumbine
  • 4,8 (127)
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Macro N Cheese

A podcast that critically examines the working-class struggle through the lens of MMT or Modern Monetary Theory. Host Steve Grumbine, founder of Real Progressives, provides incisive political commentary and showcases grassroots activism. Join us for a robust, unfiltered exploration of economic issues that impact the working class, as we challenge the status quo and prioritize collective well-being over profit. This is comfort food for the mind, fueling our fight for justice and equity!

  1. Ep 306 - China: Challenging Dollar Dominance with Paul Gambles

    HÁ 4 DIAS

    Ep 306 - China: Challenging Dollar Dominance with Paul Gambles

    Paul Gambles is back to help us unpack China's recent issuance of US dollar-denominated sovereign bonds in Saudi Arabia.  Paul begins by setting up the historical context. He takes us back to the end of the second World War and the Bretton Woods agreement, designed to bring a new world order, putting the US dollar as the global funding currency. China’s move signals a challenge to the petrodollar system – providing nations with new avenues for financing as an alternative to dollar dependency.  Paul looks at the Global South in light of China’s behavior, including the Belt and Road initiative. Its infrastructure projects in Asia or in Africa enable local countries to reduce their potential dollar exposure and instead have either equity or other exposures to China. According to Paul, this is already having effects in terms of U.S. policy and the U.S. economy.  Putting the bond issuance in perspective, Paul says:  I think China has indicated that it plans to issue about $300 billion of sovereign bonds during 2024. So, you know, you can see $2 billion (of US dollar-denominated) out of almost $300. It's, you know, it's a relatively small proportion. He suggests it’s a warning shot across the bow.  That's a very clear signal about how the potential power that China holds going forward if the U.S. government gets too stupid about things like tariffs or other anti-Chinese policies or even geo-politically. I mean, it might not be appreciated by listeners outside Asia, but American involvement in Taiwanese politics is a real sore point to the Chinese Government. And so I think this is a warning shot on a lot of different points.  Paul Gambles is the Co-Founder of MBMG GROUP and a Director and Chief Investment Officer of MBMG Investment Advisory, a SEC regulated investment advisor. Find Paul’s articles on https://mbmg.substack.com/   @PaulGambles2 on Twitter

    53min
  2. Ep 305 - Trump, the Fed & the Crypto Insurgency with Rohan Grey

    30 DE NOV.

    Ep 305 - Trump, the Fed & the Crypto Insurgency with Rohan Grey

    Rohan Grey, who taught us to understand money as a creature of law, is back for his tenth appearance on Macro N Cheese.  Steve and Rohan dissect the humor and horror of the political landscape. They make a realistic assessment of the Biden administration and look at figures like Elon Musk and Ramaswamy as part of a new wave of governance setting out to undermine the fabric of federal institutions.   The conversation touches on the absurdity of contemporary American politics, where a ‘meme president’ can emerge amidst a cacophony of discontent and confusion. All this against a background of imperialist atrocities and genocide.   As always, Rohan warns against viewing political and economic developments through a simplistic lens and suggests a nuanced understanding of these realities within their historical context  Rohan looks at the alternating and sometimes contradictory positions taken by conservatives and progressives on several issues. Judicial activism was once identified with the left – Thurgood Marshall, for example. Today judicial activism is synonymous with Samuel Alito. What has it meant to conservatives in the past to have an independent Fed? What does it mean today? In what ways do Trump’s interests align with Main Street instead of Wall Street?  Part of the episode is devoted to cryptocurrency. Rohan explains why he refers to 2024 as the ‘crypto election’ and then talks about some of the fears and predictions about the Trump administration.    Instead of comparing bitcoin to the US dollar, Rohan suggests we compare it to oil:    We're not talking about holding Bitcoin. We're not talking about internalizing Bitcoin into the payments architecture of the United States government. We are talking about taking an interest in stabilizing the price of something that is otherwise functioning as a commodity.    No Rohan Grey episode is complete without a couple of references to popular culture. Speaking of the broader issue of crytocurrency, he says it’s as if the digital dollar looked in the mirror and fell in love with itself. He compares it to a certain episode of Seinfeld.  Rohan Grey is an assistant professor at Willamette University College of Law, where he teaches contracts, business associations, financial institutions, and a seminar on law, money and technology.   Find his work and an expanded bio at rohangrey.net  @rohangrey on Twitter

    1h26min
  3. Ep 304 - Facing Uncomfortable Truths with Yeva Nersisyan

    23 DE NOV.

    Ep 304 - Facing Uncomfortable Truths with Yeva Nersisyan

    In a stunning reversal, the Democrat Party has announced plans to reconnect with its New Deal roots in hopes of regaining the trust of the working class. Haha just kidding! This week, Yeva Nersisyan joins Steve to cut through the cacophony of phony punditry trying to explain the 2024 election results. Spoiler alert: it’s economics. It’s always economics.  Yeva points to the stark realities of inflation, highlighting the persistent rise in food and housing costs. She points out that while inflation is often cited as a primary concern, the real issue lies in how US economic policies have consistently failed to address the needs of the people, especially those at the lower end of the income scale. Voters are not dazzled by Wall Street’s success.  The conversation goes into the failures of past administrations and takes a look at mistakes made during and after the height of the Covid pandemic. Promising policies were on the table, yet the monies were often spent in ways least helpful to the majority.  As an MMT economist, Yeva has worked on comprehensive economic proposals that demonstrate the affordability of providing a green new deal, healthcare, and a job guarantee. The episode continually reinforces the necessity of a class perspective when looking at the failure of neoliberalism.  Yeva Nersisyan is an associate professor of economics at Franklin and Marshall College in Lancaster, PA. She received her B.A. in economics from Yerevan State University in Armenia, and her M.A. and Ph.D. in economics and mathematics from the University of Missouri-Kansas City. She is a macroeconomist working in the Modern Money Theory, Post-Keynesian, and Institutionalist traditions. Her research interests include banking and financial instability, and fiscal and monetary theory and policy. She has published a number of papers on the topics of shadow banking, fiscal policy, government deficits and debt, and the Green New Deal. Nersisyan is currently coediting the Elgar Companion to Modern Money Theory with L. Randall Wray.  Find her work at levyinstitute.org/publications/yeva-nersisyan

    1h11min
  4. Ep 303 - Real Resources, Real Power with Fadhel Kaboub

    16 DE NOV.

    Ep 303 - Real Resources, Real Power with Fadhel Kaboub

    "Colonized people have the right to resist." Economist and friend of the podcast Fadhel Kaboub talks with Steve about the effects of global hegemony and the ongoing attempts to shift the balance of power. They look at BRICS, though it’s perhaps too soon to predict its ultimate outcome and influence. Fadhel argues that a true multipolar world cannot emerge without placing the Global South at the center of economic decision-making, challenging the existing economic domination by the US and other nations. The history of colonial exploitation continues to affect the resource-rich region. Fadhel also addresses the ways in which Israel is carrying out the US agenda in Gaza. He points out that the world’s reaction is being influenced by the ready availability of direct information via social media.  "The world didn't start on October 7th. There was a world before that. And there is a colonial project that was being built in Gaza and Palestine.  "Every colonial case we've seen in Africa and the rest of the Global South created resistance movements and resistance. Some people resist in the streets, some people resist with little pebbles and stones, some people resist with weapons. Some people resist with their voice, some people resist with their pen. But it's resistance. And it's a legitimate right to resist.   "It's beginning to click for a lot of people that colonized people have the right to resist."  Fadhel Kaboub is an associate professor of economics at Denison University (presently on leave) and the president of the Global Institute for Sustainable Prosperity. He's the author of Global South Perspectives on Substack. Find his work at kaboub.com and globalsouthperspectives.substack.com @FadhelKaboub on Twitter

    1h11min
  5. Ep 302 - Gaza, Genocide & Empire with Jason Hickel

    9 DE NOV.

    Ep 302 - Gaza, Genocide & Empire with Jason Hickel

    “A capitalist economy requires constant imperialist wars because it has to constantly suppress prices and wages and reorganize production in the global south around accumulation in the core. That is ultimately the system that we have to overcome.” Jason Hickel, who won our hearts a while back by accepting MMT, talks with Steve about the burning issue of our time. (No, not the US election, though they touch on the electoral system.) As much as Gaza is dominating social media, we must continue to stress its place in the capital order. Jason points us to Israel’s true role: sowing chaos and instability in the region.   The conversation covers the historical and ongoing imperialistic strategies of the U.S. and its reactions to the mid-century liberation movements of the Global South, placing US support for Israel's actions as part of a broader capitalist agenda to maintain control over the world's resources and labor markets. Jason looks at China’s domestic successes and how they have led to the US virtually declaring war. He also touches on recent news about BRICS.  Jason compares the history of the state of Israel to that of apartheid S. Africa. They used many of the same tactics and rationalizations. When it comes to the future for Israelis and Palestinians, S. Africa again provides a model:  “What is the actual solution for this region? And I think we have to be clear. The alternative is democracy. The alternative to apartheid is democracy.  Democracy and equal rights for all people in the land of Palestine, from the river to the sea... “We have to start thinking about what this means... This is exactly what South Africa did after they abolished apartheid... They disestablished the apartheid state. They disestablished the apartheid institutions. They ensured equal rights and democracy for all within the territory.”  Dr. Jason Hickel is an economic anthropologist, author, and a Fellow of the Royal Society of Arts.  He is Professor at the Institute for Environmental Science and Technology at the Autonomous University of Barcelona, Visiting Senior Fellow at the International Inequalities Institute at the London School of Economics, and Chair Professor of Global Justice and the Environment at the University of Oslo.  Health.  Jason's research focuses on global political economy, inequality, and ecological economics, which are the subjects of his two most recent books: The Divide: A Brief Guide to Global Inequality and its Solutions (Penguin, 2017), and Less is More: How Degrowth Will Save the World (Penguin, 2020), which was listed by the Financial Times and New Scientist as a book of the year.  @jasonhickel on Twitter

    52min
  6. Ep 301 - Worker to Worker Unionism with Eric Blanc

    2 DE NOV.

    Ep 301 - Worker to Worker Unionism with Eric Blanc

    Author and labor studies professor Eric Blanc talks about worker-led union organizing and why it is superior to the dominant model of staff-intensive unionism. “You just can't get the type of mass movement we need by relying on staff.   Even the best staff.”  Eric lays out some features of worker-to-worker organizing:  Workers are training other workers in the skills they need for a successful union drive.  Workers are self-organizing before they affiliate with a union. As a result, the relationship between worker and union is more of a partnership; not a relationship of deference.  Workers have decision-making power for the drive. They decide on strategy, tactics, even, perhaps, a political stance.   “One of the crucial turning points... that forced Starbucks to come to the bargaining table earlier this year, was the union came out for very strong stance around Palestine and solidarity with Gaza. “And it created this knockoff effect that ended up leading to a mass boycott that hurt Starbucks to the tune of 11 billion dollars.  And there's just no way that if workers hadn't been in the driving seat of this campaign, that they would have done such a risky thing very early on.”  Political activists will take away a lot from this conversation. Eric Blanc is director of the Worker-to-Worker Collaborative and co-founder of the Emergency Workplace Organizing Committee. He is professor of labor studies at Rutgers University. He is also author of the substack Labor Politics, and author of the forthcoming monograph, "We Are the Union: How Worker-to-Worker Organizing is Revitalizing Labor and Winning Big" (UC Press, 2025)

    45min
  7. Ep 300 - Algorithmic Warfare with Andy Lee Roth

    26 DE OUT.

    Ep 300 - Algorithmic Warfare with Andy Lee Roth

    **Milestone 300! We dedicate this, the 300th weekly episode, to our loyal listeners, and we wish to recognize the valiant work of our underpaid podcast crew – correction: our unpaid podcast crew – who have put in thousands of hours editing audio, correcting transcripts, writing show notes, creating artwork, and posting promos on social media. To have the next 300 episodes delivered to your inbox as soon as they’re released, subscribe at realprogressives.substack.com    Project Censored has been a valuable resource for Macro N Cheese. This week, sociologist Andy Lee Roth talks with Steve about information gatekeeping by big tech through their use of AI algorithms to stifle diverse voices.  The discussion highlights historical and current instances of media censorship and looks at the monopolization of news distribution by corporate giants like Google, Facebook, and Twitter.     In an economic system that is fully privatized, trustworthy journalism is another casualty. News, which should be treated as a public good, is anything but.     Andy Lee Roth is associate director of Project Censored, a nonprofit that promotes independent journalism and critical media literacy education. He is the coauthor of The Media and Me (2022), the Project’s guide to critical media literacy for young people, and “Beyond Fact-Checking” (2024), a teaching guide about news frames and their power to shape our understanding of the world. Roth holds a PhD in sociology from the University of California, Los Angeles, and a BA in sociology and anthropology from Haverford College. His research and writing have been published in a variety of outlets, including Index on Censorship, In These Times, YES! Magazine, The Progressive, Truthout, Media Culture & Society, and the International Journal of Press/Politics. During 2024-2025 his current work on Algorithmic Literacy for Journalists is supported by a fellowship from the Reynolds Journalism Institute.    projectcensored.org    @ProjectCensored on Twitter

    1h
  8. Ep 299 - Coup Save MMT with Sean St. Heart

    19 DE OUT.

    Ep 299 - Coup Save MMT with Sean St. Heart

    **Our Substack brings every new episode of this podcast as well timely alerts about our book clubs and webinars and reminders for Tuesday night’s gatherings of Macro ‘n Chill. All this and more, straight to your inbox. Subscribe now: realprogressives.substack.com  Recently, Steve appeared with host Sean St. Heart on Coup Save America, a weekly podcast committed to breaking through political rhetoric and focusing our attention on the core problems affecting our nation. The episode’s title was Exploring Modern Monetary Theory with Steve Grumbine, but of course it’s almost impossible to limit an MMT conversation to macroeconomics alone. From the Coup Save America show notes:  “’Are Progressives like 8-bit robots walking into walls when it comes to understanding economics?’ “Today we welcome special guest Steve Grumbine, founder and CEO of the nonprofits Real Progressives and Real Progress in Action. Steve is here to tell us how Modern Monetary Theory could benefit the working class American – and why it doesn’t. If you think a podcast on economics will be dry and dull, you’ve never heard Steve’s animated and passionate viewpoints on the subject. “Steve and Sean start the episode by reflecting upon the most recent presidential debate, then Steve launches right into the truth about our nation’s economy. While explaining the term “austerity” as it relates to macroeconomic models, Steve dispels the myth that if a government spends money on its people, it will cause inflation. We learn about the history of the Federal Reserve and how it works, what the federal deficit actually means, and what taxes really are and why they exist. Steve teaches us the difference between a ‘currency user’ and a ‘currency issuer,’ along with explaining how inflation works and why he hates using the term Modern Monetary Theory. “What would an idealistic economic system look like? It comes down to understanding class, power, and the average working man’s lack of agency. As progressives, we sabotage our own agenda by not understanding how economics work. Steve describes our movement’s ignorance as a ‘self-inflicted gunshot wound to the junk,’ and he tries to clear up some of the more common misunderstandings. He talks about the history of capitalism and how the system is now eating itself alive. When you pay interest rates, where does that money go? Is the middle class even a real thing? Steve attests that Modern Monetary Theory could contribute to fixing our society’s problems, but MMT can’t do it alone. How do we make our progressive goals actionable and not just theoretical? Why do progressives go to sleep whenever Democrats are in power rather than demanding real change? “Steve does a brilliant ‘Trumper’ impression as he explains how we need to create working class awareness. We (as progressives) need to accept that Medicare can’t work on a state-by-state level, and Steve calls out our dreams of a Universal Basic Income as being ‘batshit, bullshit crazy’ (although there is still hope in the idea of Universal Basic Services). So, how do we solve our economic problems? Listen to learn about ‘outside the nine dots,’ ‘creating dual power,’ and how ‘education and awakening are two different things.’ “Other topics include: Giving Biden credit for the CHIPS Act, price gauging during the pandemic, ‘Dude, Where’s My Car,’ and the economic theories of Clara E. Mattei and Jason Hickel.”  Coup Save America is a weekly talk show hosted by Sean St. Heart that plants the mental seeds of social change by inciting a politically progressive

    1h8min
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Sobre

A podcast that critically examines the working-class struggle through the lens of MMT or Modern Monetary Theory. Host Steve Grumbine, founder of Real Progressives, provides incisive political commentary and showcases grassroots activism. Join us for a robust, unfiltered exploration of economic issues that impact the working class, as we challenge the status quo and prioritize collective well-being over profit. This is comfort food for the mind, fueling our fight for justice and equity!

Informações

  • Criado por
    Steven D Grumbine
  • Anos de atividade
    2019 - 2024
  • Episódios
    300
  • Classificação
    Explícito
  • Copyright
    © Real Progressives, Inc.
  • Site do podcast
    Macro N Cheese

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