AppliedMMT Podcast
Discussing the economy, public policy, and current events through an MMT (Modern Monetary Theory) lens.
Episodes
David Andolfatto (@dandolfa) Professor & Economics Department Chair at the University of Miami, joins Adam, Douglas, and Ryan to discuss:
- David's journey from construction to academia and the Federal Reserve.
- His focus on monetary theory and views on the essence of money.
- How MMT compares and contrasts with traditional economic theories.
- David's take on money's role in resource allocation and price setting.
- Histor...
In this episode, Brett Scott joins Adam, Doug, and Ryan to discuss:
- Vertical and horizontal dimensions of money
- Crypto capturing attention through an asset-only view of money that people commonly hold
- Crypto ignoring double-entry accounting and liability side of money by treating units as assets alone
- Bitcoin's reliance on energy-intensive mining and whether it can truly function as a reliable inflation hedge
- Bitcoin promote...
In this episode, Brett Scott joins Adam, Doug, and Ryan to discuss:
- Brett's intellectual journey with MMT and how he was exposed to the ideas through different communities and events
- Challenges of separating fact from conspiracy theories
- Brett's perspective on tensions between using existing monetary systems and building alternative currencies
- Discussion of libertarian and anarcho-capitalist views in early crypto and th...
In this episode, Derek McDaniel (@ratedisparity) joins Adam, Derek, and Ryan to discuss:
- Derek's Background: Transition from academics in mathematics and computer science to exploring economics and MMT.
- Journey into MMT: Early exposure to Austrian economics, online debates, and realization about the national debt.
- Current Stance on MMT: Emphasis on separating MMT into independent propositions like endogenous money, governmen...
In this episode, Adam, Ryan, and Doug interview Maren Poitras, creator of "Finding the Money", the documentary film about MMT.
They discuss:
- Maren's background
- Maren's inspiration for creating the film
- The film's development process
- Reception to early screenings
- Maren's observations regarding mainstream economics vs. heterodox economics
- Challenges in explaining MMT via film
- Future plans for the ...
Adam, Doug, and Ryan wrap up 2023, discussing their learnings, surprises, and expectations for 2024:
- The strong GDP growth and low unemployment in 2023, noting how rate hikes seemed to stimulate the economy, contrary to popular belief.
- Higher government spending and lower inflation in 2023
- The importance of understanding fiscal policy's impact on the macroeconomy while other factors like bank credit and money supply are seco...
In this episode, Ritik Goyal joins Adam, Ryan, and Douglas to discuss:
- Ritik's journey from working at Bridgewater to co-founding "The Monetary Frontier" on Substack
- How Ritik was drawn to MMT as a framework that accurately describes economic flows and policy impacts, especially in the context of austerity politics.
- Ritik's nuanced view on MMT, particularly questioning the idea of a zero neutral interest rate a...
In this episode, Douglas of MMT Macro Trader joins Adam and Ryan discuss:
- Big announcement - the future of AppliedMMT & MMT Macro Trader!
- 4.9% Q3 GDP print
- Is Fintwit connecting the dots on the interest income channel?
- What drove GDP growth in 2023?
- The relationship between interest rates and the economy
- Potential systemic risks in the economy today
- The “failed treasury auction” on November 9
- Powell’s recent comments – has the Fed ...
In this episode, Charles Hayden joins Ryan to discuss:
- Warren Mosler’s thesis that the Fed has interest rate policy backwards
- MMT academics countering mainstream economists
- Mainstream economists thinking unemployment is necessary to reduce inflation
- Saudi oil prices & their impact on inflation
- Negative GDP prints in 2022 & recession fears
- Bank credit increasing despite rate hikes
- Fed collateral rules rather than rate hikes cau...
In this episode, Adam and Ryan discuss:
- Shout out to Nick Gomez of ANG Traders (@ANGTraders)
- Fears of market liquidity drain during TGA refill in late May/early June
- The mechanics of the TGA refill
- The Fed's reverse repo facility
- MMT being blamed for inflation
- Randy Wray and Yeva Nersisyan's policy recommendations at the beginning of the pandemic
- MMT's opposition to UBI
- Are rate hikes keeping companies alive?
- Addressing t...
In the second part of our two-part conversation, Nick Gomez of ANG Traders joins Adam and Ryan to discuss:
- The causes of post-COVID inflation
- Unemployment benefits & "no one wants to work anymore"
- The US fiscal situation in 2023 vs. 2022
- Shortages in the housing market
- How Nick analyzes the stock market
- The effects of treasury issuance
- Accounting between the Fed & Treasury
- The relationship between treasuries and the s...
In this episode, Nick Gomez of ANG Traders joins Adam and Ryan to discuss:
- Nick's background in physics/math and how he became interested in MMT
- Reactions to Nick's work on Seeking Alpha
- Understanding the US dollar, national debt, and debt ceiling
- Treasuries as UBI for people who already have money
- The relationship between stocks & interest rates
- Nick's bullish outlook on the US economy
- Challenges in explaining MMT
- H...
In this episode, Adam and Ryan discuss:
- The state of the economy & stock market
- Additional rate hikes in Argentina
- Ryan's attendance at the Warren Buffet/Berkshire Hathaway shareholder meeting
- Profit margins, inflation, and bank lending
- Michael Green (@profplum99) vs. Warren Mosler's economic outlooks
- "Money" by James Madison
AppliedMMT.com
AppliedMMT on Twitter
Douglas (@MMTmacrotrader) ...
In the second episode of this two-part interview, Warren Mosler, one of the "founders" of MMT, joins Adam and Ryan to discuss:
- Warren’s take on the inverted yield curve
- Cost of capital & entrepreneurship
- Effects of low interest rates
- Where does additional interest income go? Is it driving growth?
- Interest rates and equity valuations
- Fiscal contraction in early 2022
- Lack of conversation around fiscal policy as opposed to...
In the first episode of this two-part interview, Warren Mosler, one of the "founders" of MMT, joins Adam and Ryan to discuss:
- Warren's perspective on rate hikes vs. other MMTers
- Warren's meeting with George W. Bush's Chief of Staff, Andrew Card
- Warren's conversations with Paul Krugman on deficits/inflation
- Warren's conversations with Argentina's central bank on interest rates/inflation
- Forward...
In this episode, Adam and Ryan to discuss:
- Recent Richard Murphy/MMT Twitter controversy
- The Republican proposal to put the US back on a gold standard
- Public vs. private solutions to real estate issues
- Ryan’s concept of the “real resource dividend”
- Thoughts on the Job Guarantee
AppliedMMT.com
AppliedMMT on Twitter
Douglas (@MMTmacrotrader) on Twitter
Disclaimer: The content of this podcast is for informati...
In this episode, Adam and Ryan to discuss:
- Big banks moving deposits to FirstRepublic
- Hold-to-maturity securities
- Misunderstandings around banking
- Solvency issues vs. liquidity issues
- Bitcoin and banking
Links
AppliedMMT.com
AppliedMMT on Twitter
Douglas (@MMTmacrotrader) on Twitter
Disclaimer: The content of this...
In this episode, Adam and Ryan to discuss:
- The failure of Silicon Valley Bank
- Morgan Ricks' commentary on bank runs and game theory
Links:
AppliedMMT.com
AppliedMMT on Twitter
Douglas (@MMTmacrotrader) on Twitter
Disclaimer: The content of this podcast is for informational purposes only and should not b...
In this episode, Bijou Smith of MMT Macro Trader joins Adam and Ryan to discuss:
- Bijou's background in physics and how he became interested in MMT
- Why MMT is important
- The relationship between economics & physics
- How Bijou and Douglas started collaborating on MMT Macro Trader
- Using machine learning & neural networks to model the macroeconomy and stock market indices
- How the job guarantee fits into capitalism
- Adam Smith, e...
In this episode, Adam and Ryan discuss:
- Whether or not all MMTers believe interest rate hikes are expansionary
- The newest PCE inflation data
- Retail inflows to the stock market
- Interest rates and asset bubbles
- The post-2008 venture capital boom
- Gambling apps & cryptocurrency
Links:
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