EconomicsJunkie Podcast

Nima discusses the latest data regarding the Coronavirus lockdown crisis, and the economic outlook. Sources: A Novel Coronavirus from Patients with Pneumonia in China, 2019 (https://www.nejm.org/doi/full/10.1056/NEJMoa2001017) Dr. Drosten admits in hit piece on Wodarg that his test is not peer reviwed or sufficiently validated, see yellow (https://imgur.com/a/skKtQvw) Was the COVID-19 Test Meant to Detect a Virus? (https://uncoverdc.com/2020/04/07/was-the-covid-19-test-meant-to-detect-a-virus/) USC-LA County Study: Early Results of Antibody Testing Suggest Number of COVID-19 Infections Far Exceeds Number of Confirmed Cases in Los Angeles County (http://www.publichealth.lacounty.gov/phcommon/public/media/mediapubhpdetail.cfm?prid=2328) Erste Resultate der Corona-Studie in Heinsberg (https://www.tagesschau.de/regional/nordrheinwestfalen/corona-studie-heinsberg-101.html) New Data Suggest the Coronavirus Isn’t as Deadly as We Thought (https://www.wsj.com/articles/new-data-suggest-the-coronavirus-isnt-as-deadly-as-we-thought-11587155298) "New York is reporting 15,500 COVID-19 deaths, and if 2.7 million people were infected, that would mean the death rate would be 0.5%" (https://www.livescience.com/covid-antibody-test-results-new-york-test.html?fbclid=IwAR2QbOi_M0rsiBRBa-6GHSPeLgQikTSzhDD7t80NQjJvHm6NYojHNt0JIa0) Respiratory illnesses in Germany (https://grippeweb.rki.de/) Coronavirus: Nine in 10 dying have existing illness (https://www.bbc.com/news/health-52308783) Syracuse hospitals still awash in empty beds; Cuomo may let them resume elective surgery (https://www.syracuse.com/coronavirus/2020/04/syracuse-hospitals-still-awash-in-empty-beds-cuomo-may-let-them-resume-elective-surgery.html) NHS hospitals have four times more empty beds than normal (https://www.hsj.co.uk/acute-care/nhs-hospitals-have-four-times-more-empty-beds-than-normal/7027392.article)

Nima & Dylan discuss recent developments regarding the coronavirus hysteria and its economic impact. Sources: #CORONAVIRUS UPDATE: Dr. Shiva Ayyadurai and Stefan Molyneux (HD) (https://www.bitchute.com/video/ndy76mJHD6o/) 0.37% death rate confirmed in Germany: "Vorläufiges Ergebnis und Schlussfolgerungen der COVID-19 Case-ClusterStudy" (Gemeinde Gangelt) (https://www.land.nrw/sites/default/files/asset/document/zwischenergebnis_covid19_case_study_gangelt.pdf) Untested people added to inflated Coronavirus count: "New York City coronavirus death toll jumps past 10,000 in revised count" (https://www.theguardian.com/us-news/2020/apr/15/new-york-city-coronavirus-death-toll-jumps-revised-count)

Nima discusses the impacts of the Coronavirus panic on the European economy.

Nima discusses the coronavirus panic, its economic impacts, and how you can protect your money in turbulent times. Sources: "How Dr. Wolfgang Wodarg sees the current Corona pandemic..." https://www.youtube.com/watch?v=p_AyuhbnPOI&feature=emb_title Coronavirus data from Germany: https://imgur.com/a/bMYOsYB "99% of Those Who Died From Virus Had Other Illness, Italy Says" https://www.bloomberg.com/news/articles/2020-03-18/99-of-those-who-died-from-virus-had-other-illness-italy-says?fbclid=IwAR3Ck9ixxL0uXHWdVUwjEAm5rb9P6-wc4FGWNIcif_srrrcIPAB21K863gs "Why are so few Germans dying from the coronavirus? Experts wonder" https://www.nbcnews.com/news/world/why-are-so-few-germans-dying-coronavirus-experts-wonder-n1168361?cid=eml_nbn_20200325&fbclid=IwAR2H30u-w2NtVpk_LNvhnm6EwGhmmIfxU90EUeHn6rRWEDgbqX-ZLDoF8ZA "Is the Coronavirus as Deadly as They Say?" https://www.wsj.com/articles/is-the-coronavirus-as-deadly-as-they-say-11585088464 "Los Angeles Mayor Eric Garcetti warns of mass death, condemns 'false hope,' and tells us his city will be on lockdown for another 2 months — and to 'be prepared for longer'" https://www.businessinsider.com/covid-19-los-angeles-to-shelter-in-place-for-months-2020-3?fbclid=IwAR0u2rKqe3rqo4kX4aU4simyFpSwnc_MrvWkicNOPhTV9b1q5qVLtspExOs

Nima and Dylan discuss recent proposals to combat loan sharking by capping interest rates on credit cards. Sources: To Tackle Greed of Wall Street 'Loan Sharks,' Ocasio-Cortez and Sanders Plan Would Cap Outrageous Credit Card Rates (https://www.commondreams.org/news/2019/05/09/tackle-greed-wall-street-loan-sharks-ocasio-cortez-and-sanders-plan-would-cap?fbclid=IwAR2rIlbJhFMfNnyfAy17SpfC7qbSrZys07Mb8MYGKmDP9grQ1lPupCya_TA) Economic Illiterate, or Communist Mastermind? (https://think-liberty.com/featured/economic-illiterate-or-communist-mastermind/?fbclid=IwAR378zNypt_BwSIvjXH8eu2tZeHqol-Wvsd7T0fqSkEhMQfDc93n-B0cJFw)

Dylan and Nima discuss more investment perspectives on MMT. Source: https://www.bennelongfunds.com/insights/332/investment-perspectives-modern-monetary

Nima discusses what professional money managers think about Modern Monetary Theory (MMT). Source: WHY DOES EVERYONE HATE MMT? (https://www.gmo.com/north-america/research-library/why-does-everyone-hate-mmt/)

Nima and Dylan discuss more FEE MMT criticisms. Sources: Modern Monetary Theory: Debunking the Latest Incarnation of Government’s Magic Money Tree (https://fee.org/articles/modern-monetary-theory-debunking-the-latest-incarnation-of-government-s-magic-money-tree/) Modern Monetary Theory and the Unspoken Effects of Inflation (https://fee.org/articles/modern-monetary-theory-and-the-unspoken-effects-of-inflation/)

Nima and Dylan discuss more good & bad MMT criticisms. Sources: Modern Monetary Theory Is a Recipe for Hyperinflation (https://fee.org/articles/modern-monetary-theory-is-a-recipe-for-hyperinflation/) Modern Monetary Theory Isn't Economics (https://fee.org/articles/modern-monetary-theory-isnt-economics/) The Shortest (and Best) MMT Primer You’ll Ever Read (https://www.pragcap.com/the-shortest-and-best-mmt-primer-youll-ever-read/) Unemployment Is Created By Government And Can Only Be Solved By Government (https://www.youtube.com/watch?v=NBgfAV78yII) Is the Federal Reserve Bank Public or Private? (https://www.economicsjunkie.com/is-the-federal-reserve-bank-public-or-private/)

Nima and Dylan discuss climate change alarmism and other forms of austerity. Sources: The Neglected Sun by Fritz Vahrenholt, Sebastian Lüning (https://www.amazon.com/Neglected-Sun-Precludes-Catastrophe-Independent/dp/1909022241) Agenda 21 (https://sustainabledevelopment.un.org/content/documents/Agenda21.pdf)

Dylan and Nima discuss the good, the bad, and the ugly of MMT criticisms. Sources: Modern Monetary Theory Is Not Grounded in Economic Reality (https://fee.org/articles/modern-monetary-theory-is-not-grounded-in-economic-reality/?utm_source=zapier&utm&fbclid=IwAR28O2F6e4YZJzalUuDIDzXGwnohF8nkELcT-l0SkCQShBD07SeWFKN9_y8) U6 Unemployment Rate (https://www.macrotrends.net/1377/u6-unemployment-rate) MMT's True Colors Appear (https://www.pragcap.com/mmts-true-colors-appear/)

Dylan and Nima discuss how the private banking system actually works, and how private it actually is.

Episode 24, Nima and Dylan get back to finishing up going over the book on Why Minsky Matters. Source: Why Minsky Matters by L. Randall Wray (https://press.princeton.edu/titles/10575.html)

On this episode, Dylan and Nima go over some arguments from the Austrian school economists, and discuss what they think is good, and bad about Austrian economics.

Dylan and Nima discuss a listener's questions and comment about Modern Monetary Theory (MMT). Sources: Empiricism Shatters The Barter Theory of Money (https://www.economicsjunkie.com/empiricism-shatters-barter-theory-money/) Private Debt To Income (https://fred.stlouisfed.org/graph/?graph_id=347240) Corporate Profits (https://fred.stlouisfed.org/graph/?graph_id=344834)

Nima and Dylan discuss Minsky's views on so called fractional reserve banking, poverty, unemployment, the Federal Reserve Bank, and how to stabilize an inherently unstable economy. Source: Why Minsky Matters by L. Randall Wray (https://press.princeton.edu/titles/10575.html)

According to the CDC vaccines have been found to infect people with polio, SV40 virus (cancer), permanent paralysis, narcolepsy, bowels folding in on themselves, and pig viruses. Nima and Dylan discuss the issue of vaccine safety. Sources: The Vaccine Book, Robert W Sears, MD, FAAP (https://www.amazon.com/Vaccine-Book-Decision-Parenting-Library/dp/0316180521) Vaccinegate: Initial results on Infanrix Hexa chemical composition (https://www.corvelva.it/speciali-corvelva/analisi/vaccingate-initial-results-on-infanrix-hexa-chemical-composition.html?fbclid=IwAR29D0RBkQX5EduO19DnqGl1oBab0847eXkgiITOxEKCijLdOPyC7B1JeY8) Historical Vaccine Safety Concerns (https://www.cdc.gov/vaccinesafety/concerns/concerns-history.html) Contaminated haemophilia blood products (https://en.wikipedia.org/wiki/Contaminated_haemophilia_blood_products) Blood, Money and AIDS: Hemophiliacs Are Split;Liability Cases Bogged Down in Disputes (https://www.nytimes.com/1996/06/11/business/blood-money-aids-hemophiliacs-are-split-liability-cases-bogged-down-disputes.html) Effect of Human Papillomavirus 16/18 L1 Viruslike Particle Vaccine Among Young Women With Preexisting Infection (https://jamanetwork.com/journals/jama/fullarticle/208418) VRBPAC Background Document Gardasil™ HPV Quadrivalent Vaccine May 18, 2006 VRBPAC Meeting (http://fearlessparent.org/wp-content/uploads/2017/10/HPV-vaccine-clinical-trials.pdf) Supplemental: What's In A Flu Shot (https://www.youtube.com/watch?v=gWfCnjnShnM) PBS Vaccine Propaganda for Children (https://www.youtube.com/watch?v=t6S_1V8ibOc)

Nima & Dylan discuss Bernie Sanders' 10 point plan. Source: Bernie Sanders Lays Out Bold 10-Point Plan for Democrats (https://www.truthdig.com/articles/bernie-sanders-lays-out-bold-10-point-plan-for-democrats/)

Nima discusses an article by Cullen Roche on PragCap.com about the Federal Reserve, Quantitiative Easing (QE), interest rates, consumer price inflation, and asset price inflation (assflation). Source: Let’s Talk About QE and Assflation (https://www.pragcap.com/lets-talk-qe-asset-price-inflation/)

Nima & Dylan discuss the predecessor to today's Middle Eastern cultures, including Israel: Canaanite Civilization. Among other things they also discuss Bohemian Grove, climate change, pollution, flouride in the water, and how the far left has been successfully conned into supporting global austerity of the worst kind. Sources: The Evolution of Civilizations by Carroll Quigley (https://www.amazon.com/Evolution-Civilizations-Carroll-Quigley/dp/0913966576) Peer reviwed science quotes on climate change causes (https://pastebin.com/qh0PVKWY)

Nima and Dylan discuss Hyman Minsky's views on banking and financial instability. Source: Why Minsky Matters (https://press.princeton.edu/titles/10575.html)

Dylan and Nima discuss the history of Mesopotamian civilization from start to finish. Sources: Joe Rogan Podcast w/Graham Hancock and Randall Carlson #872: https://www.youtube.com/watch?v=5ANEw0g_M7k&t=9633s Joe Rogan Podcast w/Robert Shoch #1124 https://www.youtube.com/watch?v=Vka2ZgzZTvo&t=4527s Eric Cline Lecture on the Sea Peoples: https://www.youtube.com/watch?v=bRcu-ysocX4&t=7s Mesopotamia: Crash Course World History https://www.youtube.com/watch?v=sohXPx_XZ6Y Ollie Bye The Ancient Middle East: Every Year https://www.youtube.com/watch?v=4TXzW4nF7fU Information on Göbekli Tepe: http://gobeklitepe.info/ Sicilian Megalith: https://grahamhancock.com/another-megalith-that-rewrites-history-is-found/ Okinawa "Pyramid": http://yonaguni.ws/ Evolution of Civilizations by Carroll Quigley (https://www.amazon.com/Evolution-Civilizations-Carroll-Quigley/dp/0913966576/ref=tmm_pap_swatch_0?_encoding=UTF8&qid=1543170126&sr=1-1)

Nima discusses the latest of many dire climate change reports. Sources: "U.S. impacts of climate change are intensifying, federal report says"(https://www.usatoday.com/story/news/nation/2018/11/23/climate-change-intensifying-economy-impacted-federal-report-finds/2093291002/) The Technological Society by Jacques Ellul (https://archive.org/stream/JacquesEllulTheTechnologicalSociety/Jacques%20Ellul%20-%20The%20Technological%20Society_djvu.txt) Club of Rome invents global warming hoax (https://en.wikipedia.org/wiki/Club_of_Rome#The_Limits_to_Growth) Peer reviewed science papers cited: "These estimates both have much lower upper bounds than those from a predecessor study using AR5 data ending in 2011." (https://journals.ametsoc.org/doi/10.1175/JCLI-D-17-0667.1) "solar variability has been the dominant influence on Northern Hemisphere temperature trends since at least 1881." (http://www.sciencedirect.com/science/article/pii/S0012825215300349) "If the climate continues its cooling and the sun behaves in a manner not witnessed since 1800, we can be sure that climate changes are dominated by the sun and that atmospheric CO2 has a very small role in climate changes. If the same climatic patterns, cyclic warming and cooling, that occurred over the past 500 years continue, we can expect several decades of moderate to severe global cooling." (http://scienceandpublicpolicy.org/images/stories/papers/reprint/multidecadal_tendencies.pdf) "the ice winter severity index in the Baltic Sea is modulated by solar activity and solar motion in several frequency bands during the last 500 years." (http://www.sciencedirect.com/science/article/pii/S1364682612002167) "These quantities were analyzed in two GCMs and compensating errors in the SW and LW clear-sky, cross-atmosphere radiative flux divergence were found to conspire to produce somewhat reasonable predictions of the net clear-sky divergence. Both GCMs underestimated the surface LW and SW CRF and predicted near-zero SW CRE when the measured values were substantially larger (~70 W m−2 maximum)." (http://journals.ametsoc.org/doi/abs/10.1175/JCLI-D-11-00072.1?af=R) "These findings, together with the missing orbital signature in published dendrochronological records, suggest that large-scale near-surface air-temperature reconstructions relying on tree-ring data may underestimate pre-instrumental temperatures including warmth during Medieval and Roman times." (http://www.nature.com/nclimate/journal/v2/n12/full/nclimate1589.html) "(…) resulting in the conclusion that the early MCA was warmer than the late 20th century by ~ 1 °C." (http://www.sciencedirect.com/science/article/pii/S0031018212003926) "the global temperature increase during the last century is between 0.4°C and 0.7°C, where these two values are the estimates derived from raw and adjusted data, respectively." (http://www.itia.ntua.gr/en/docinfo/1212/) "Highest pre-industrial summer temperatures of the 12th century were 0.3 °C warmer than the 20th century." (http://www.sciencedirect.com/science/article/pii/S0277379112001680) "the periods in which solar activity agents affecting the Earth are predominantly related to solar toroidal or poloidal fields are the periods in which the North Atlantic Oscillation is negatively or positively correlated with solar activity, respectively." (http://www.sciencedirect.com/science/article/pii/S1364682612001393) "25–56% of the temperature increase the last 150 years may be attributed to the Sun. For 3 North Atlantic stations we get 63–72% solar contribution." (http://www.sciencedirect.com/science/article/pii/S1364682612000417) Oregon Petition (http://www.petitionproject.org) 1,350+ peer reviewed research papers supporting the skeptic's view: http://www.populartechnology.net/2009/10/peer-reviewed-papers-supporting.html#General Another 100+: http://notrickszone.com/100-papers-sun-drives-climate/#sthash.7JBjco1q.uUrhUs2q.dpbs

Nima discusses American economist Hyman Minsky's ideas and contributions. Sources: Why Minsky Matters by L Randall Way (https://www.amazon.com/Why-Minsky-Matters-Introduction-Economist-ebook/dp/B00XNZA8CO) Club Of Rome on inventing global warming scare (https://en.wikipedia.org/wiki/Club_of_Rome#The_Limits_to_Growth)

Nima discusses the economic mechanisms behind what Carroll Quigley refers to as "The Instrument Of Expansion", namely inventiveness, saving & investment. Sources: Evolution of Civilizations by Carroll Quigley (https://www.amazon.com/Evolution-Civilizations-Carroll-Quigley/dp/0913966576) Tragedy & Hope by Carroll Quigley (https://www.infowarsstore.com/infowars-media/books/tragedy-hope.html)

Dylan and Nima discuss the beginnings of early civilizations.

Dylan and Nima continue their discussion of Carroll Quigley's Evolution of Civilizations, focusing on the seven stages: 1. Gestation 2. Mixture 3. Expansion 4. Conflict 5. Universal Empire 6. Decay 7. Invasion

Nima and Dylan discuss the eternal scientific laws of evolution of civilizations, in particular the phenomenon of instruments becoming institutions. Evolution of Civilizations by Carroll Quigley (https://www.amazon.com/Evolution-Civilizations-Carroll-Quigley/dp/0913966576/ref=sr_1_1?ie=UTF8&qid=1540385055&sr=8-1&keywords=evolution+of+civilizations) Tragedy & Hope by Carroll Quigley (https://www.infowarsstore.com/tragedy-hope.html)

Nima and Dylan Respond to a Freedomain Radio video about "Trump's Economy" The video of Molyneux and Murphy: https://www.youtube.com/watch?v=Qq99Ld9R5Rw Dylan's debate with Bob Murphy: https://tomwoods.com/ep-1116-debate-bob-murphy-and-dylan-moore-on-modern-monetary-theory-mmt/ Warren Mosler's Debate w/Bob Murphy: https://www.youtube.com/watch?v=cUTLCDBONok&t=3803s The Princes of the Yen: https://www.youtube.com/watch?v=p5Ac7ap_MAY Potential Problems with Narrow Banking: https://www.pragcap.com/potential-problems-narrow-banking/

Nima and Dylan discuss indicators of economic doom. Sources: Regarding the Kalecki Equation: What Does the Market’s Response to Trump’s Election Tell Us About Investor Expectations? (https://www.economicsjunkie.com/markets-response-trumps-election-tell-us-investor-expectations/) The Permanent Portfolio (https://soundcloud.com/economicsjunkie/investing-the-permanent-portfolio-amagi-podcast-think-liberty-episode-6) Currency crisis candidates: https://twitter.com/cullenroche/status/1031978260605747200

Join Dylan and Nima and they break down the details behind what most people have already caught themselves saying at one point or another... Mortgages are bullshit! Mortgages Are Bullshit lesson by Dylan on Youtube: https://youtu.be/6dF0buznl4M

Dylan and Nima discuss MMT with Styxhexenhammer666. Video: https://www.youtube.com/watch?v=GVew302o45I Sources: How Government Budget Surpluses Can Cause Economic Depressions (https://www.economicsjunkie.com/government-budget-surpluses-can-cause-economic-depressions/)

Nima and Dylan discussion a diversified investment strategy called the "Permanent Portfolio", conceptualized by former Libertarian Party presidential candidate, author, and radio host Harry Browne. Sources: Failsafe Investing: Lifelong Financial Security in 30 Minutes (https://www.amazon.com/Fail-Safe-Investing-Lifelong-Financial-Security/dp/031226321X) A Portfolio For All Occasions (https://beinglibertarian.com/growing-your-wealth-in-all-economic-cycles/) Debt: The First 5000 Years (https://www.amazon.com/Debt-First-5-000-Years/dp/1612191290) Regarding the Kalecki Equation: What Does the Market’s Response to Trump’s Election Tell Us About Investor Expectations? (https://www.economicsjunkie.com/markets-response-trumps-election-tell-us-investor-expectations/)

Nima and Dylan discuss criticisms of MMT. Sources: MMT: A Rebuttal To The Theory & It’s Primary Stances (https://think-liberty.com/opinion/mmt-challenged/) Debt: The First 5,000 Years (https://www.amazon.com/Debt-First-5-000-Years/dp/1612191290) Tragedy & Hope (https://www.infowarsstore.com/infowars-media/books/tragedy-hope.html)

Nima and Dylan discuss cryptocurrencies and other private currency concepts, and whether or not those are consistent with Modern Monetary Theory (MMT). References: How the Fiat Money System Can Explain Bitcoin's Value (https://beinglibertarian.com/fiat-money-system-can-explain-bitcoins-value/) Empiricism Shatters the Barter Theory of Money (https://www.economicsjunkie.com/empiricism-shatters-barter-theory-money/)

Nima and Dylan discuss the sectoral balance equation and how it helps us explain the Greek and other debt crises in Europe. Sectoral balanced and private saving: https://www.economicsjunkie.com/sectoral-balances-and-private-saving/ Sectoral balances in Europe: https://econoblog101.wordpress.com/2016/07/14/sectoral-balances-of-the-eurozone/ Sectoral balances overview: https://en.wikipedia.org/wiki/Sectoral_balances

In Episode 2 Nima of EconomicsJunkie.com and Dylan of the Volitional Science Network discuss Modern Monetary Theory (MMT), in particular the so called Federal Job Guarantee. Topics discussed: What is unemployment? Does the state have a responsibility to address it? Can such a program work in a libertarian small government? And who's going to pay for it all? References: Modern Money Theory: A Primer on Macroeconomics for Sovereign Monetary Systems, by L. Randall Wray (https://www.amazon.com/Modern-Money-Theory-Macroeconomics-Sovereign/dp/0230368891) Debt: The First 5,000 Years, by David Graeber (https://www.amazon.com/Debt-First-5-000-Years/dp/1612191290) How Government Budget Surpluses Can Cause Economic Depressions (https://www.economicsjunkie.com/government-budget-surpluses-can-cause-economic-depressions/)

In our first episode of the new weekly Amagi podcast on the Think Liberty network, Dylan and Nima discuss common libertarian myths and misconceptions about the economic system.

Nima Mahdjour of EconomicsJunkie & Dylan Moore of the Volitional Science Network discuss Modern Monetary theory, cryptocurrency, politics, and philosophy on the Think Liberty podcast.

Social Security And Medicare Going Broke?? by Nima Mahdjour

Dylan Lawrence Moore of the Volitional Science Network and Nima Mahdjour of EconomicsJunkie.com discuss the "Bitcoin Bubble" and why bitcoin, or any cryptocurrency, has any value. What is the value of bitcoin and cryptocurrency? What gives it that value? Is bitcoin an actual currency? Viewed from the lens of Modern Monetary Theory.

A rebuttal to "Why the US Dollar Will Collapse" with Mike Maloney interviewed by Stefan Molyneux on Freedomain Radio. Mike and Stef cover various economic issues from a classical/Austrian viewpoint of economics which all draw the same conclusion: the US dollar is going to collapse SOON. Watch their video here: https://www.youtube.com/watch?v=S_ZPh1OkL-s Dylan Moore of the Volitional Science Network and Nima Mahjour of economicsjunkie.com provide evidence to rebut many of the points brought up in the video: 1. Why the Federal Reserve is NOT a private bank 2. Why the Fed DOES NOT "print money" 3. Why interest rates are not a useful metric for predicting economic stability 4. Why the Fed can only "push" interest rates UP, not down 5. The myth of fractional reserve banking 6. The myth of the barter theory of money 7. Why the Fed is not causing inflation 8. Why the evidence points to US dollar NOT CRASHING Source: https://www.youtube.com/watch?v=ufyiYD2jnM8

Dylan and I discuss various theories about the reasons for inflation. It's not just the money supply and it's not just the invisible hand. In fact, money supply seems to have very little to do with it. Wray's Paper on Inflation: http://www.economicsjunkie.com/alternative-inflation-theories/

The Federal Job Guarantee - What Heresy is This? Dylan Moore of the Volitional Science Network and Nima Mahjour of EconomicsJunkie.com go over the basics of libertarian and Austrian thought on the role government plays in the economy. A philosophical analysis of negative and positive rights tells us that any time the government gets involved in PROVIDING something, it must be inherently oppressive because someone need merely demand it to create an obligation on the government to provide it, and the government must provide it by taking it from someone else. The Bill of Rights enshrined the concept of negative rights in the US Constitution. However... there's a weird one. The 6th Amendment. The government guarantees a right to a speedy trial. That sounds kind of like a positive right, doesn't it? (NOTE: Dylan totally said 4th Amendment in the video. Doh.) Libertarian philosophy argues: if the government causes the problem, then the government has to provide the solution. If the government arrests you (problem), it has to give you a means to deal with that arrest (speedy trial). Thus it doesn't fit the category of a positive right. ...but what happens if government causes the problem of requiring citizens to pay taxes with money? Nima and I discuss this problem in the video. Debt: The First 5000 Years by David Graeber https://www.amazon.com/Debt-First-5-000-Years/dp/1612191290 How Government Surpluses Can Cause Economic Depressions: http://www.economicsjunkie.com/government-budget-surpluses-can-cause-economic-depressions/ Source: https://youtube.com/watch?v=NOsAawM9JAA

Dylan Moore of the Volitional Science Network and Nima Mahdjour of EconomicsJunkie.com welcome WARREN MOSLER to the Volitional Science Network. Warren is the founder of Modern Monetary Theory and the foremost expert on the subject. Warren weighs on the several subjects we have covered up until this point, as well as dropping several bombshells about the functioning of the economy and the utter incompetence driving most economic problems. We cover: -Why MMT is so distasteful to conservatives (and everyone else) -How US bonds don't fund the government -How interest rates ACTUALLY affect the economy -What quantitative easing does to the economy (virtually nothing), and why everyone freaks out about it (and why they shouldn't) -What actually happened during the banking bailouts of 2008 (it's nothing like we've been told) -Basics of the banking sector -How the US is utterly overtaxed and the damaging economic effects of transactional taxes (sales tax, VAT, etc.) -Proposing an idea: wiping out ALL federal taxes and replacing it with a base 5% property tax. No more IRS. About halfway through the video we experience some minor connection problems. We decided to cut our videos to improve the connection. Source: https://www.youtube.com/watch?v=6WSQ20I1Jv4

Dylan Moore of the Volitional Science Network and Nima Mahjour of EconomicsJunkie.com go over the basics of MMT: what you've never been told about the economy. -The concept of Credit Money and the Statist origins of money -Sectoral Balances: how foreign trade can affect money supply and economic conditions -Floating vs. Fixed Currency Systems: the arbitrariness of the gold standard -Why do governments sell bonds? Do they actually fund spending? No. They are essentially risk-free assets for rich people. -What do federal reserve interest rates do? Nothing. -If interest rates do nothing, why does the Fed control them? -What does Quantitative Easing do? Turns out it's nothing to worry about. -The basics of the private banking system Real Progressives Steven Grumbine interview with Nima Mahjour: http://tinyurl.com/y9qtu9o8 Debt: The First 5000 Years by David Graeber https://amazon.com/Debt-First-5-000-Years/dp/1612191290 How Government Surpluses Can Cause Economic Depressions: http://www.economicsjunkie.com/government-budget-surpluses-can-cause-economic-depressions Capacity Utilization: Total Industry fred.stlouisfed.org/series/TCU Source: https://youtube.com/watch?v=H-61nMYXsWs

Gold isn't money. The national debt is great. Federal surpluses crash the economy. Taxes don't fund spending. ...what is this nonsense? Trust us! It makes sense once you understand the pieces. Dylan and Nima discuss MMT basics from a conservative standpoint. How Government Surpluses Can Cause Economic Depressions: http://www.economicsjunkie.com/government-budget-surpluses-can-cause-economic-depressions/ Capacity Utilization: Total Industry https://fred.stlouisfed.org/series/TCU Source: https://www.youtube.com/watch?v=5p6jVv5JYdE

~~WHY WE NEED A NATIONAL DEFICIT & WHY AUSTERITY IS KILLING GREECE~~ Dylan Moore and Nima Mahjour discuss why modern nations need national decifits through the lens of Modern Monetary Theory (MMT), and what function it performs in society. Many find MMT confusing due to its usage of words like "debt", "deficit", "deficit", "budget", and "surplus". It turns out these words to normal people have completely opposite meanings to the federal government. Confused? This excellent starting point to dispel some of your confusion. Nima breaks down specific examples in history, explaining how hyperinflation in nations is always always due to political factors, not economic ones. He analyzes the Weimar Republic, Zimbabwe, Venezuela, and Greece. We also discuss the political-economic situation of the Eurozone, and some of the reasons why the euro has been such a disaster. Specifically, we look at why the euro has crippled economies like Greece and bolstered economies like Germany. You can check out more of Nima's work at beinglibertarian.com and economicsjunkie.com.

Dylan Lawrence Moore interviews Nima Mahdjour with EconomicsJunkie.com to discuss Modern Money Theory and why it is so dangerous to "balance the federal budget". It is typical for conservative administrations to attempt to practice "sound economics" by balancing the budget. However, the rules for economy function differently with the federal government than they do for the rest of us. Nima uses MMT to describe what's going on in the current economy. Sources for the discussion: 17:35 - How Government Budget Surpluses Can Cause Economic Depressions http://www.economicsjunkie.com/government-budget-surpluses-can-cause-economic-depressions/ 21:00 - Trump’s Tax & Deficit Stance Might Be Spot On https://beinglibertarian.com/trumps-tax-deficit-stance-spot/ Empiricism Shatters the Barter Theory of Money: http://www.economicsjunkie.com/empiricism-shatters-barter-theory-money/

Nima (@EconomicsJunkie) and his friend Warren call into Stefan Molyneux's Freedomain Radio (http://freedomainradio.com) to share what they saw at the UC Berkely terrorist attacks that shut down Milo Yiannopoulos's scheduled speech on February 1st 2017.

Dylan Lawrence Moore interviews Nima Mahdjour about his experience at the UC Berkeley Riots which canceled the Milo Yiannopoulos speaking event on 2/1/2017. Nima is a Bay Area entrepreneur and investor who writes about freedom and economics on EconomicsJunkie.com. He's also a contributor at BeingLibertarian.com (https://beinglibertarian.com/author/ma/). Here is the YouTube clip: https://www.youtube.com/watch?v=k3gGOBKSKwE