Inequality is a buzzword around the woke campfire these days, but like most issues associated with wokedom, once you peel back the layers, the original argument falls apart. Joining us today is James Rogers (lawliberty.org), Associate Professor of Political Science at Texas A&M University. It's nice to shout that the poor aren't equal to the rich, but few people delve deeper to see that many rich people offer employment, fund charities that help the poor, and keep the economy chugging. And the irony is, the same people who obsess the most about inequality and the poor are usually well-off individuals who never try and solve the problem.
You can't tax your way to prosperity, despite the repeated attempts to do so. Joining us today for a tax discussion is Julio Gonzalez (engineeredtaxservices.com), CEO of Engineered Tax Services. He looks at the new proposed Patriot Tax and the tendency for politicians on the Left to always turn to taxing the rich to solve society's problems. But the rich are never soaked, they offshore their money, and the middle class always ends up crumbling under the weight of these policies. No one can ever explain why the Left think the rich will pay, how they'll ever make the math work to fund their programs, and how any of it actually helps the poor. Will reality become so real that we actually get tax reform?
Every few months or so, we break out the crystal ball with esteemed futurist James Kunstler (kunstler.com), who is back with us today, to see where we're headed. James looks at the future of economics and culture, and how if we are expecting to live in an orderly society in the next several decades, we are mistaken. He examines the impending economic reset, debt forgiveness, and how the economic elites see the future versus how he sees it. He explores the future of cities and suburbs, realistically looking at today's realities to predict tomorrow's likelihoods. No one knows the future, but if he's proven correct, we need to be prepared for the tough times ahead.
Israel is very much in the news right now but the media narratives are not matching the facts on the ground. We open our Israel focus this week with John's analysis of what's happening in Israel versus the spin you're getting from the news. He looks at the Temple Mount riots, the violence in East Jerusalem, and rocket attacks from Gaza into Israel and Israel's response.
We then move to an often-pushed narrative in the media and on college campuses that Israel is an apartheid state. Here this week is someone who has lived in both South Africa and Israel, Reverend Malcolm Hedding (www.malcolmhedding.com), Associate Minister of World Outreach Church. He describes what conditions were like for blacks living under apartheid and what life is like today for Palestinians in Israel and there is positively no comparison. He also looks at how social justice in Western schools has led to the Israel apartheid narrative.
The U.S. economy – along with that of the rest of the world – is on shaky ground at the moment. John and Carol round out the show this week with a Steel on Steel economic summit to make sense of what's going on. They look at the difference between monetary policy and fiscal policy and how for the first time in history, fiscal policy is winning out. All safety measures and accountability have been removed from the economy and the whole thing is being held together by confidence. Once that confidence erodes, the whole system collapses.
It's fair to say that the U.S. economy – along with that of the rest of the world – is on shaky ground at the moment. John and Carol sit down for a Steel on Steel economic summit today to make sense of what's going on. They play clips of economists and do their own analysis, making a dry topic easy to understand and interesting. They look at the difference between monetary policy and fiscal policy and how for the first time in history, fiscal policy is winning out. All the safety measures and accountability have been removed from the economy and the whole thing is being held together by confidence. Once the confidence erodes, the whole system collapses. How long can we keep playing this game?
Following up on yesterday's round table discussion on overcoming angst, John and Carol collaborate today to look at the new normal (or ongoing paradigm shift) in the world of economics. They look at the global economic picture, the actions of central banks around the world, and how the virus is affecting businesses both big and small. They also play a clip from this week's McAlvany Weekly Commentary on how the markets are realigning to the new normal.
On today's podcast, John dives into the economic reality facing not only the United States, but also the rest of the world. He looks at the trend of global central banks toward inflation, the outlook of things financially, both long-term and just over the horizon, and the traps and pitfalls that mark the lead-up to a Socialist takeover of an economy. So will it be an absolutely horrible future for the world? No, but it is wise to keep smart counsel, recognize the signs moving forward, and act to try to mitigate the pain that will be coming.