Cate Long, partner at Puerto Rico Clearinghouse, tells Erin if restructuring in Puerto Rico is inevitable and if it should happen sooner rather than later.
Is America a 'financialized' economy, dependent on bubbles for growth? That's the topic for today. Bubbles, one hears a lot of noise about bubbles lately. And one sector we hear about in particular is technology. But is the tech bubble moniker really warranted? Erin Ade discusses.
Then, economist Thomas Palley, author of the book: "From Financial Crisis to Stagnation" talks to Erin about an American economy suffering from so-called secular stagnation. Former Clinton and Obama Administration Official Larry Summers has been talking about it. Is it a real phenomenon and is it a result of a financialized US economy? Dr. Palley explains. Palley also explains post-Keynesian economist Hyman Minsky's financial instability hypothesis. While Dr. Palley admires the work of New Keynesian economist and Nobel laureate Paul Krugman, he does see crucial differences between the economics of post-Keynesians who saw the financial crisis coming and New Keynesians like Paul Krugman who most represent Keynesianism in the minds of the mainstream media.
In the Big Deal, Erin and Edward Harrison discuss whether the US is having an echo bubble in housing, plus where else to look for frothy housing markets.
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Moody’s is warning that the U.K. could face a downgrade if it doesn’t get its post-Brexit trading pacts in order. Ameera David has the details. Then, Bianca Facchinei takes a look at new reports claiming the Pentagon may ask for another $500 million for the long-delayed and expensive F-35 fighter jet program. After, Manuel Rapalo breaks down stats showing that the SEC may be overwhelmed and reviewing too few investment advisers.
Following the break, Peter Schiff, CEO of Euro Pacific Capital, gives Ameera his thoughts on the state of the U.S. economy, the Fed’s decision to again not hike interest rates, and which presidential candidate may be best for the economy. And finally, in The Big Deal, Edward Harrison examines falling oil prices and the impact of an uncertain OPEC production deal.
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Jerome Powell is up for another term at the Federal Reserve as President Biden nominated the current head, despite pushback from some members of his own party. We'll dive into the fresh nomination (0:59). Then, oil prices are coming back down to earth with news that several nations could tap reserves, boosting optimism that a fresh supply can help to ease global demand. We'll bring you up to speed on the latest developments from the energy sector. (11:34) And Brexit continues to strain trade relations between the United Kingdom and the European Union as issues persist along the Irish border, we break down the details. (18:37)
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Markets are trembling across the globe as the trade war has broken into the currency realm. Richard Wolff, Professor of Economics Emeritus at the University of Massachusetts Amherst is on hand to toil through the escalating tensions. Plus, following rate cuts from the ECB and Federal Reserve, several banks across Asia are following suit with cuts of their own. But what does this mean, not only for Asia, but the global market? Steve Keen, author of "Can We Avoid Another Financial Crisis?" joins us to answer that very question and more.
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As phase one of the U.S.-China trade deal has cleared a major hurdle, the fate of agricultural purchases are still a little hazy. Professor Richard Wolff joins the show today to give us the macro-view on trade and the world economy. Plus, Bitcoin has been sloping despite international economic concerns, but could a rally be just around the corner? Naeem Aslam of Think Markets joins us from across the pond to give us his outlook for cryptos in the wake of trade calamity in the United Kingdom.
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U.K. watchdog CMA fines Pfizer $106 million for extraordinary seizure drug price increases. Ameera David has he details. Then, Bianca Facchinei takes a look at the brewing fight over whether the AT&T-Time Warner merger should be approved by regulators. After, Alex Mihailovich joins from Toronto to discuss the Bank of Canada’s decision to leave interest rates unchanged and the hot housing market in the wintry northern country.
Following the break, Dr. Ron Paul tells Ameera why he thinks President-Elect Donald Trump shouldn’t be dealing with individual companies like Carrier and should instead be focused on broader economic reforms, including tax cuts. And in The Big Deal, Edward Harrison gives his take on the rise of part-time workers in the American economy, and why the focus on a single measure of unemployment (the U3 rate) is not adequate.
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U.S. consumer prices posted their largest gain in three years. With the Fed rate decision coming next month, the data muddy the waters. Also Saudi Arabia owns $117bn of US debt, US Treasury papers have revealed for the first time. Boom Bust host Ameera David weighs in on both topics. Then Boom Bust’s Bianca Facchinei details World Bank research that estimates climate change could put 1.3 billion people at risk. Afterwards, RT correspondent Ashlee Banks updates us on the difficulty minorities are having with the peer-to-peer accommodation rental service Airbnb as well as Airbnb’s travails in Chicago.
After the break, Edward Harrison sits down with Doug Casey, founder of Casey Research. Doug spends a good portion of his time outside the US and actively advocates for expatriating as a form of portfolio diversification. He tells Edward exactly why. And in today’s Big Deal, Ameera and Edward discuss a number of topics, mostly focused on market signals from stock splits, equity performance and asset allocation
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ORIGINAL AIR DATE: December 18, 2014
To discuss emerging markets, Erin is joined by Eswar Prasad – professor at Cornell University, senior fellow at The Brookings Institution, and former head of the IMF’s China Division.
Dr. Prasad tells us what he sees as the biggest consequences of the strong dollar, gives us his take on what emerging markets he thinks look vulnerable, and tells us why floating rate regimes give emerging markets breathing room while fixed rate regimes require steep levels of economic reform. Dr. Prasad also tells us how the Indian economy is doing and what kind of growth he expects there in 2015 as well as what he’s seeing in China right now. He gives us his take on Chinese house price deflation and also weighs in on how well the Chinese regulators have done in tamping down on excess credit growth.
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Boom Bust correspondent Bianca Facchinei takes a look at the new bailout deal Greece reached with European creditors on Tuesday. The deal includes securing €86 billion to Greece over a three-year period, as long as they impose a number of economic reforms.
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