Macro N Cheese

Steven D Grumbine
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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 344 - The Unstable Genius Act with Bob Hockett

    HÁ 5 H

    Ep 344 - The Unstable Genius Act with Bob Hockett

    ** Tuesday evening, Bob will join our weekly online gathering where we’ll listen to the podcast together and discuss. Bring your questions for him. September 9 at 8pm ET/5pm PT. Use this link to register: https://us06web.zoom.us/meeting/register/1HA3nd_5QFSFzBe_cGiHpw  This is Bob Hockett’s 12th visit to Macro N Cheese. Back in 2022, in an episode discussing the collapse of the major crypto exchange platform FTX, Bob gave us a useful rule of thumb:  “The irony is that in every one of these cases there is a clue in the name of the product in question that ought to warn you. If it’s called a junk bond, there’s a reason for that word “junk” being used. And if it’s called a subprime mortgage loan... there’s a reason for that “subprime” term. Similarly with cryptocurrency or crypto assets, one of the most ironical names ever conceived for this kind of product. If the word “crypto” comes into it, then that’s a pretty good tip-off that there’s something non-transparent about it, that there’s something opaque and occluded and difficult to understand.”  Hmmm... today’s topic is the GENIUS Act. What meaning should we take from that name?  In this episode, Bob and Steve talk about the newly-passed GENIUS Act whose stated purpose is regulation of the stablecoin industry, bringing the shadow banking industry into the light and out of the, um, shadows.    The discussion looks at the flawed premise of private stablecoins and the real motives behind the push. Far from preventing instability and fraud, promotion of stablecoin aligns with a libertarian ideology (a la Hayek) that seeks to denationalize currency and privatize money. From a Modern Monetary Theory perspective, the implications are alarming. It merits a discussion of the role of the state.   The GENIUS Act is a dangerous distraction. A Trojan Horse.    Robert C. Hockett is the Edward Cornell Professor of Law at Cornell Law School. His principal teaching, research, and writing interests lie in the fields of organizational, financial, and monetary law and economics   His forthcoming and recent books are: World Money (Yale 2026); A Republic of Producers (Yale 2025); Making Capital Democratic (Polity 2025); Spread the Fed (Palgrave 2025); The Citizens' Ledger (Palgrave 2022); Democratizing Finance (Verso 2022); Money from Nothing (Melville House 2020); Financing the Green New Deal (Palgrave 2020).   @rch371 on X

    1h14min
  2. Ep 343 - Imports Are A Benefit, Exports Are A Cost? with William Mitchell

    30 DE AGO.

    Ep 343 - Imports Are A Benefit, Exports Are A Cost? with William Mitchell

    In our 14th episode with Australian economist Bill Mitchell, the conversation focuses on the MMT perspective on international trade. Bill explains what is meant by the statement “imports are a benefit, and exports are a cost,” where it fits into the history of economic thought, and some of its implications.  A significant portion of the conversation is dedicated to explaining the crucial shift from the Bretton Woods fixed exchange rate system to the modern system of floating exchange rates after 1971. Bill clarifies that in a floating regime, a currency-issuing government is not financially constrained in its domestic policy by “trade imbalances,” as it was under Bretton Woods.   The episode also touches on bond vigilantes, the IMF, and the shifting status of the US dollar as the world’s reserve currency.  William Mitchell is Professor of Economics and Director of the Centre of Full Employment and Equity (CofFEE) at the University of Newcastle, NSW Australia. He is also the Docent Professor of Global Political Economy at the University of Helsinki, Finland, and Guest International Professor at Kyoto University, Japan.   Follow Bill’s work, including his upcoming books, at https://billmitchell.org/blog/

    58min
  3. Ep 342 - From Corbyn to Palestine: an MMT Analysis with Chris Williamson

    23 DE AGO.

    Ep 342 - From Corbyn to Palestine: an MMT Analysis with Chris Williamson

    **Be sure to subscribe to our Substack. It costs you nothing to have all our new content delivered to straight to your inbox!  https://realprogressives.substack.com/  Remember Labour's stunning defeat in the 2019 UK general election? When, under Jeremy Corbyn’s leadership, they won the lowest number of seats since 1935?    Steve’s guest, Chris Williamson, brings an insider’s view to the story. Chris is a former MP and shadow minister for UK’s Labour Party. He’s currently deputy leader of the Workers Party of Britain, and hosts a show, Palestine Declassified, that has the notable honor of being banned by YouTube.  Chris describes some strategic missteps within the Labour Party under Corbyn and others. He criticizes the adoption of neoliberal policies, like the fiscal credibility rule, and Corbyn’s ambiguity on Brexit. The Zionist lobby leapt on their support for Palestine; charges of antisemitism hit their target.  “Unfortunately, Jeremy gave it legs by continually apologizing. And as I said to him at the time, ‘Every apology you make and every concession you give is just feeding the beast and making it stronger. Ultimately they're going to come for you and destroy this project.’ And they did. I mean, that's what really killed the Corbyn project. It was the antisemitism thing. I mean, what finished it off. What delivered the coup-de-grace, of course, was the commitment to a second referendum on Brexit.” Chris also recounts his own experience as a victim of coordinated attacks which led to his being ousted from the Labour Party.  Throughout the conversation, Steve and Chris continuously pound the MMT message, reminding us that the UK, like the US, is not constrained by lack of money! Chris Williamson is a former member of Parliament and shadow minister for the Labour Party, currently deputy leader of the Workers Party of Britain. @DerbyChrisW on X  Follow Palestine Declassified https://www.presstv.ir/Section/150108

    1h13min
  4. Ep 341 - AI's Hidden Thirst with Erald Kolasi

    16 DE AGO.

    Ep 341 - AI's Hidden Thirst with Erald Kolasi

    Our friend, physicist and economist Erald Kolasi, stops by the Macro N Cheese clubhouse to talk with Steve about the profound effects of AI on the energy grid, water resources, and societal infrastructure. The discussion focuses primarily on large-scale corporate AI, such as generative AI. Erald’s work bridges physics, economics, and ecology, revealing how AI’s rapid expansion is not just a technological phenomenon but a biophysical crisis – one that’s easy to overlook. Cloud is such a gentle word. Diaphanous. It sounds harmless. Lovely, even. “When you're in front of your computer and you're just typing away and you're asking these systems to do all these magical things for you, it can seem like it comes out of nowhere. But no, in reality, all of this stuff takes enormous energy.” AI’s dematerialized facade obscures its physical infrastructure. It’s a classic capitalist contradiction where "progress" accelerates ecological breakdown.  Erald and Steve talk about the race to the bottom, as states and municipalities trade public health for tax revenue. Regulatory enforcement is absent.   While exploiting labor and plundering nature, the costs are socialized as these companies use public water and energy grids. Elon Musk’s xAI Colossus is based in Tennessee. (Remember the TVA, that impressive example of depression-era federal works? Help yourself, Elon.) It’s not just that they use public water and energy, it’s the vast and growing amounts of these resources, as Erald explains.  The conversation also touches on the AI arms race, as the US competes with China, using “national security” as an excuse to justify resource wars.   From energy consumption to water depletion, from labor displacement to geopolitical tensions, this episode exposes the contradictions of AI under a system that prioritizes profit over sustainability.  Erald Kolasi is a writer and researcher focusing on the nexus between energy, technology, economics, complex systems, and ecological dynamics. His book, The Physics of Capitalism, came out from Monthly Review Press in February 2025. He received his PhD in Physics from George Mason University in 2016. You can find out more about Erald and his work at his website, www.eraldkolasi.com.   Subscribe to his Substack: https://substack.com/@technodynamics

    1h7min
  5. Ep 340 - Humanode: One Person, One Vote with Victor Vernissage

    9 DE AGO.

    Ep 340 - Humanode: One Person, One Vote with Victor Vernissage

    **Our weekly online gathering, Macro ‘n Chill is the perfect place to discuss this week’s episode, especially since it includes terminology you might not be familiar with. Or there may be someone who needs your help understanding it. Community-buidling on Tuesday, August 12 at 8pm ET/5pm PT. Use this link to register  What do you know about blockchain?  Surely you’ve heard our episodes with Brett Scott or the Blockchain Socialist or Rohan Grey. Now we have another one. Steve’s guest is Victor Vernissage, co-founder of the project Humanode, which aims to use blockchain to create a biometric based system. Victor, who agrees with Steve that the US is not a democracy, notes that even "decentralized" crypto systems replicate oligarchic structures, where power is tied to capital.  They delve into the intricacies of Humanode's capacity and discuss how this can be a tool for building parallel systems outside traditional governmental structures. They also touch on the potential for decentralized governance and the challenges of implementation at both local and global levels.   Victor talks about concepts like liquid democracy with specialized chambers to avoid tyranny of the majority. He explains Sybil attacks and sockpuppeting. The conversation offers insights into how technology can be leveraged for social and political transformation, emphasizing the role of community involvement and the importance of building new economic and social structures from the ground up.  *****  Victor Vernissage is a researcher and cofounder of multiple ventures, with his latest baby being Humanode, an egalitarian decentralised ledger built on the principle of one human = one vote in contrast to capital-based blockchains predominant today. Victor loves macro, complex systems and the intersection of crypto, identity and economics, meanwhile building new social structures as code. Learn more about the project at humanode.io  @tech_mingler on X

    53min
  6. Ep 339 - Sociocide with Charles Derber

    2 DE AGO.

    Ep 339 - Sociocide with Charles Derber

    Charles Derber, a sociology professor at Boston College, talks with Steve about his book, 'Bonfire: American Sociocide, Broken Relations and the Quest for Democracy.' Steve suggests the book aligns with his own assessment that US sociocide (social disintegration) demands revolutionary change. Electoral politics are a distraction and a dead end. The conversation covers the need for a deeper understanding of a system that manufactures and perpetuates inequality. They discuss the historical continuity of fascism as the logical endpoint of capitalism. Indeed, Trump’s presidency has exposed the latent fascist character of the US state, stripping away liberal democratic pretenses. Austerity measures and increased ICE (and police) funding serve to suppress resistance and criminalize poverty. Steve emphasizes the need for organizing alternative institutions, building dual power. Charles hopes his book will help connect personal experiences with broader systemic issues, advocating for a collective response to the socio-economic crisis and reinforcing the necessity of long-term, sustainable organizing outside traditional party politics. Charles Derber, Professor of Sociology at Boston College, is the author of twenty-eight books, including the Wilding of America, The. Pursuit of Attention, Sociopathic Society, Corporation Nation, People Before Profit, Dying for Capitalism, Greed to Green, Welcome to the Revolution, and Who Owns Democracy - translated into 14 languages. He is a public sociologist and life-long activist, who writes about structural and cultural analysis of capitalism, public goods, the environment, and social movements seeking transformational change. He is a life-long activist for peace and social justice.

    1h5min
  7. Ep 338 - Can Deliberation Cure the Ills of Democracy? with James Fishkin

    26 DE JUL.

    Ep 338 - Can Deliberation Cure the Ills of Democracy? with James Fishkin

    If we had the power to design our own political system, what would it look like?  Stanford Professor James Fishkin talks with Steve about deliberative democracy, a method that brings together diverse, representative groups to weigh policy trade-offs in a fact-based, civil environment. He maintains that when people get the chance to discuss issues in depth, they often move away from extremes, suggesting that polarization isn’t as unbreakable as pundits claim. James presents some examples, like how deliberative polling in Texas led to a massive shift toward wind energy.  Steve acknowledges his skepticism and asks whether James believes this could translate into real power, like shaping a federal job guarantee or breaking the corporate stranglehold on policy. James argues that while deliberative democracy isn’t a magic fix, it’s a tool to cut through misinformation and empower ordinary people, offering a glimpse of what democracy could be. (When we wrest control from the hands of the ruling class.)  James S. Fishkin holds the Janet M. Peck Chair in International Communication at Stanford University where he is Professor of Communication, Professor of Political Science (by courtesy) and Director of the Deliberative Democracy Lab. He is the author of Democracy When the People Are Thinking (Oxford 2018), When the People Speak (Oxford 2009), Deliberation Day (Yale 2004 with Bruce Ackerman) and Democracy and Deliberation (Yale 1991). He is best known for developing Deliberative Polling® – a practice of public consultation that employs random samples of the citizenry to explore how opinions would change if they were more informed. His work on deliberative democracy has stimulated more than 100 Deliberative Polls in 28 countries around the world. It has been used to help governments and policy makers make important decisions in Texas, China, Mongolia, Japan, Macau, South Korea, Bulgaria, Brazil, Uganda and other countries around the world.

    1h1min
  8. Ep 337 - The Overdose Economy with Charles LeBaron

    19 DE JUL.

    Ep 337 - The Overdose Economy with Charles LeBaron

    Dr. Charles LeBaron is a retired CDC scientist and the author of Greed to Do Good: The Untold Story of CDC's Disastrous War on Opioids. He talks with Steve about the ill-considered response to the opioid crisis and the tragic and preventable consequences of the CDC’s 2016 guidelines. Restricting prescriptions without providing treatment (whether for pain relief or addiction) drove users to illicit opioids like fentanyl and a surge in overdose deaths. The conversation expands to systemic issues, including the corporate greed of Big Pharma, political exploitation of the crisis, and the punitive rather than rehabilitative approach to addiction. Steve and Charles highlight how austerity policies and privatization exacerbate the epidemic, disproportionately harming working class and marginalized communities. They criticize current political responses, such as RFK Jr.’s proposed cuts to addiction treatment programs in favor of ineffective "healing farms," as emblematic of a broader failure to address root causes. Both emphasize the need for compassionate, science-driven solutions over criminalization, underscoring how public health and social equity are inextricably linked.  For more than twenty-eight years, Charles LeBaron worked as a medical epidemiologist at the Centers for Disease Control and Prevention (CDC). While there, he was the author of more than fifty scientific studies published in peer-reviewed journals, including first- or senior- author papers in the New England Journal of Medicine and the Journal of the American Medical Association.

    1h5min
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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 - 2025
  • Episódios
    300
  • Classificação
    Explícito
  • Copyright
    © Real Progressives, Inc.
  • Site do podcast
    Macro N Cheese

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