Stephanie Kelton: Modern Monetary Theory on Debt and Deficits

After the Great Debate between Sanders and Cruz on the Republican Tax Plan The Real News interviewed Stephanie Kelton for her reaction.

Why won’t we end up like Greece? What did Greece do that got Greece into so much trouble? It isn’t that Greece borrowed and had high public debt that got Greece into trouble. It’s that Greece stopped borrowing in its own currency. Remember, before Greece joined the Economic and Monetary Union, it’s currency was known as the Drachma. That was the Greek currency, and it was controlled by the Greek government. Well, when Greece decided to join the Economic and Monetary Union, the Euro, it gave up the Drachma and it started spending and borrowing in this Euro currency, which it does not control. So all of a sudden, Greece turns itself basically into the state of Georgia, if you like. And Greece is now promising to pay Euros when it borrows. The problem is, Greece doesn’t create the Euro. And so that’s where Greece’s problems lie.

The U.S. is in debt in U.S. dollars. And the cool thing about owing people U.S. dollars when you’re the U.S. government is, you’re the only game in town. Nobody else can create the U.S. dollar. It can only come from the United States government, which is why you can never run out. You can never have bills that you’re unable to pay. You can never be forced into default. You can never be forced to go to credit markets and pay higher and higher rates of interest to get your currency because you’re the issuer of the dollar. It’s completely different thing.

The Breakfast Club (Saving Grace)

Welcome to The Breakfast Club! We’re a disorganized group of rebel lefties who hang out and chat if and when we’re not too hungover we’ve been bailed out we’re not too exhausted from last night’s (CENSORED) the caffeine kicks in. Join us every weekday morning at 9am (ET) and weekend morning at 10:00am (ET) to talk about current news and our boring lives and to make fun of LaEscapee! If we are ever running late, it’s PhilJD’s fault.

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This Day in History

: Suicide blast kills U.S. Marines and sailors in Lebanon; Students in Hungary spark Cold War revolt; President Richard Nixon agrees to turn over White House tapes; ‘Tonight Show’ host Johnny Carson born.

Breakfast Tunes

Something to Think about over Coffee Prozac

Historically, the claim of consensus has been the first refuge of scoundrels; it is a way to avoid debate by claiming that the matter is already settled.

Michael Crichton

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Rant of the Week: Bill Maher – Salt In The Wound

During his opening monologue, Real Time host Bill Maher chastised Trump and his defender, chief of staff Gen. John Kelly, for the debacle following his “condolence call” to the widow of Sgt. La David Johnson earlier this week.

Hurray For Big Carbon!

Fact: VHS Tape is made out of Hydrocarbons

Do the Math.

Umm… $214 Million – $216 Million is… too hard

Who needs that Math stuff anyway?

Everything I need to know I learned from Jean Luc Picard and Olórin

The Breakfast Club (Underappreciated Feline Orbiter)

Welcome to The Breakfast Club! We’re a disorganized group of rebel lefties who hang out and chat if and when we’re not too hungover we’ve been bailed out we’re not too exhausted from last night’s (CENSORED) the caffeine kicks in. Join us every weekday morning at 9am (ET) and weekend morning at 10:30am (ET) to talk about current news and our boring lives and to make fun of LaEscapee! If we are ever running late, it’s PhilJD’s fault.

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AP’s Today in History for October 22nd

A Cold War crisis over Cuba leads to brink of nuclear war; Shah of Iran allowed into U.S. for treatment; ‘Pretty Boy’ Floyd killed; Last victim slain in D.C. sniper shootings; Cellist Pablo Casals dies.

 

Breakfast Tune Piedmont Brothers Band – Mr Spaceman/The Wampus Cat Song

 

Something to think about, Breakfast News & Blogs below

 
Trump plans to release JFK assassination documents despite concerns from federal agencies
Ian Shapira, Washington Post

President Trump announced Saturday morning that he planned to release the tens of thousands of never-before-seen documents left in the files related to President John F. Kennedy’s assassination held by the National Archives and Records Administration.

In the days leading up to Trump’s announcement, a National Security Council official told The Washington Post that government agencies were urging the president not to release some of the documents. But Trump’s longtime confidant Roger Stone told conspiracy theorist Alex Jones of Infowars this week that he personally lobbied Trump to release all of the documents.

Stone also told Jones that CIA Director Mike Pompeo “has been lobbying the president furiously not to release these documents.”

In May 2016, while on the presidential campaign trail, Trump gave an interview to Fox News strongly accusing the father of GOP primary opponent Sen. Ted Cruz (R-Tex.) of consorting with Kennedy assassin Lee Harvey Oswald right before the shooting. …

 
BANK DOWNGRADES CHIPOTLE, COMPLAINING IT PAYS WORKERS TOO MUCH. CHIPOTLE SAYS THAT’S BUNK.
Aída Chávez, The Intercept

BANK OF AMERICA Merrill Lynch downgraded Chipotle and warned investors that the stock will “underperform,” complaining that the restaurant chain is paying its workers too much, and that cutting labor costs further will be difficult for the chain.

“We are downgrading Chipotle to Underperform from Neutral as we believe, assuming no significant tax reform, that 2018 and 2019 consensus EPS needs to drop at least 10 percent,” analyst Gregory Francfort told CNBC Wednesday. “We believe further gains from trimming hours will prove difficult which limits the opportunity to get labor below 27 percent of sales even if traffic recovers.”

But Chipotle spokesperson Chris Arnold called Bank of America’s analysis “flawed and inaccurate,” adding that the restaurant chain hasn’t cut employee hours but recently increased hours in conjunction with the addition of queso to the menu. …

 
Under Trump, Brags Mike Pompeo, CIA Will Be ‘Much More Vicious Agency’
Andrea Germanos, Common Dreams

ccording to Mike Pompeo, the agency he leads—which has supported coups across the globe, engaged in targeted killings, and led a detention and torture program—has not been nasty enough.

Speaking Thursday at a Foundation for Defense of Democracies forum, the CIA director, who has signaled suport for torture, said “we’ve now laid out a strategy for how we’re going to execute our strategy with incredible vigor. We’re going to become a much more vicious agency in ensuring that we are delivering this work. We are going to go to the hardest places with some of the hardest people and of our organization to crush it.”

President Donald Trump, he said, “has promised that he will have our backs and that he will resource us.” …

 

 

 

 

 

 

Something to think about over coffee prozac

The First Cat In Space May Finally Get The Recognition She Deserves
David Moye, HuffPost

Everyone knows the names of famous astronauts like Neil Armstrong, Buzz Aldrin and some may even remember Laika, the first dog in space.

However, the first cat in space has been largely forgotten by history.

This pioneering pussycat was named ”Félicette,” and she was shot into space 54 years ago this week from a base in the Sahara desert by the Centre National d’études Spatiales (CNES), the French version of NASA.

Félicette was picked out of a group of about a dozen cats because she had the best reaction to a series of tests that included a spin in a centrifuge, according to EuroNews.

Her 12-minute flight took her 97 miles above Earth and included five minutes of weightlessness.

Although this “Astrocat” made history, Félicette was euthanized a few months later so scientists could study the effects of space travel on her body.

No cat has been in space since and Félicette has become a UFO — an underappreciated feline orbiter.

Even worse, in some of the few tributes she received, she’s been misidentified as a male named Felix, according to LeDauphine.com
Now a British advertising executive is hoping to restore Félicette to the pantheon of great space explorers by erecting a statue in her honor in Paris, France.

Matthew Serge Guy, a creative director for Anomaly London, has started a Kickstarter campaign to raise $52,439 for the statue.

“Around 6 months ago whilst at work, I came across a tea towel in the staff kitchen commemorating the 50th anniversary of the cat who went to space,” Guy said in a release. “There was no name for the cat on the towel, nor did it resemble Félicette.

“After Googling it, I became fascinated with Félicette’s story, how it had been forgotten over the years, and (like the design of the tea towel) misattributed. It felt like something big should be done to right these wrongs.”

The campaign video is below and seems to have catapulted Félicette back into the public eye. After one day, Guy is nearly 20 percent towards his goal with a month to go.

Guy emphasizes to recognize that Félicette and other animals involved in the early days of space exploration suffered and had no choice in the matter.

“It’s also important to note that Félicette, alongside many other animals that have braved space travel in the name of science, was ultimately an unwilling participant in this experiment,” he wrote. “For this mission alone she, alongside 13 other cats, experienced arduous training prior to the mission and eventually gave her life.”

Health and Fitness News

Welcome to the Stars Hollow Gazette‘s Health and Fitness News weekly diary. It will publish on Saturday afternoon and be open for discussion about health related issues including diet, exercise, health and health care issues, as well as, tips on what you can do when there is a medical emergency. Also an opportunity to share and exchange your favorite healthy recipes.

Questions are encouraged and I will answer to the best of my ability. If I can’t, I will try to steer you in the right direction. Naturally, I cannot give individual medical advice for personal health issues. I can give you information about medical conditions and the current treatments available.

You can now find past Health and Fitness News diaries here.

Follow us on Twitter @StarsHollowGzt

What To Cook This Weekend

Cooler and shorter days are here and it’s time to experiment in the kitchen. Here are a few interesting recipes to try out on family and friends this weekend.

Katsudon (Pork-Cutlet Rice Bowl)

Katsudon is a comforting, belly-warming dish from Japan, composed of sliced pork cutlets simmered in a dashi-based broth with onion and eggs and served over a bowl of warm rice. It’s an ideal way to use up leftover cutlets from the refrigerator, but it’s even more rewarding when it’s made with fresh, warm cutlets, and it co

Crisp Stuffed Chicken Cutlets

Fried to a golden hue, the dish is both crunchy and greaseless. The crumbs insulate the delicate meat and help keep it from overcooking.

Shaved Brussels Sprouts With Pecorino and Walnuts

Shave the sprouts with a mandoline or a food processor or a sharp, sharp knife. Then combine with raw walnut halves, pecorino crumbled off the cheese with a fork, olive oil, and salt. Mix aggressively, so that the sprouts begin to wilt a little. And that’s it. You’ll see.

Deep-Dish Apple Pie

The thicker rim is especially satisfying, like a buttery, crumbly slab of shortbread. You can use a 10-inch deep-dish pie pan, or a deep nine- or 10-inch square, or another 2 1/2- to 3-quart baking dish of your choice. A mix of apple types always makes the best filling.

Savory Dutch Baby

This savory Dutch baby is like Yorkshire pudding meets a popover meets a gougère, flavored with browned butter, Parmesan and thyme. You can serve it for brunch, pancake style. Or try it as an hors d’oeuvre.

Health and Fitness News

3 Million Americans Say They Carry Handguns Every Day

Could Too Much Exercise Be Bad for Men’s Hearts?

Even a Little Walking Can Lengthen Your Life

State Laws Help Reduce Concussions in Youth Sports

Arthritis Can Strike Children

Firefighters Exposed to Carcinogens Through the Skin

Higher Doses of Vitamin D May Boost Preemies’ Bone Health

How Foods Labeled ‘Healthy’ Can Still Make You Fat

Skip Opioid Treatment for Migraine in the ER

Be Wary of Shopping for Pet Meds Online

https://medlineplus.gov/news/fullstory_169135.html

Scoliosis Screenings Can Help Catch Spine Problem Early

1 in 9 American Men Infected With Oral HPV

A-Fib Hits Men Earlier Than Women

Breast Cancer More Lethal for Blacks Than Whites

Nearly a Third of College Kids Think ADHD Meds Boost Grades

When Should You Rush Your Toddler to the ER?

The Breakfast Club (Fly Away)

Welcome to The Breakfast Club! We’re a disorganized group of rebel lefties who hang out and chat if and when we’re not too hungover we’ve been bailed out we’re not too exhausted from last night’s (CENSORED) the caffeine kicks in. Join us every weekday morning at 9am (ET) and weekend morning at 10:00am (ET) to talk about current news and our boring lives and to make fun of LaEscapee! If we are ever running late, it’s PhilJD’s fault.

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This Day in History

Thomas Edison perfects workable electric light; Anthrax scare claims first of two U.S. postal workers in Washington, DC; Britain wins Battle of Trafalgar; Actress and author Carrie Fisher born.

Breakfast Tunes

Something to Think about over Coffee Prozac

Everything is negotiable. Whether or not the negotiation is easy is another thing.

Carrie Fisher

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Niger: American Deaths and Lack of Paper in Chad

Could a lack of passport paper in Chad, which led to it being placed in Trump’s travel ban list, have caused the deaths of four American soldiers? Chad has been a key player in the fight against ISIS in central Africa. After it was placed on the travel ban list in late September, it withdrew its troops from neighboring Niger. MSNBC host Rachel Maddow connected the dots of how the inexplicable travel ban destabilized the region and could have contributed to the deaths of four American Soldiers on October 4th.

Maddow began by walking through the extensive history of the groups of African and French fighters who have managed to battle Islamic extremists like ISIS and Boko Haram in central Africa and actually win. Most of these groups are headquartered in Chad, because the best of the best soldiers managed to run out the majority of the terrorist groups.

Yet, somehow, Chad ended up on Trump’s travel ban list. When it did, there was an uproar of foreign policy experts who warned this was a terrible decision because it would destabilize the region and isolate American troops fighting there. Both the State and Defense Departments were also opposed to Trump’s decision to put Chad on the list, because they knew it would cause military problems in the area. But the Trump administration demanded it.

“Several terrorist groups are active in Chad,” Maddow cited the administration’s reasoning. “If that’s the reason you end up on the travel ban list, why wouldn’t you put Mali or Niger or even Iraq and Afghanistan?”

A former State Department official who worked on that region went even further, telling the New York Times that putting Chad on that list could truly put Americans in harm’s way.

Chad then began to withdraw their troops from the fight against Boko Haram in Niger. In fact, Chad’s troops were gone a week after Trump added Chad to the ban list. According to Reuters, once the soldiers left, Boko Haram moved back in and people began to flee for their lives again. Shortly after the “battle-hardened” Chad fighters left, four American soldiers were attacked and killed in an ambush by ISIS extremists in Niger. Chad announced it began pulling its troops out two weeks ago on Oct. 13, which Maddow said would put their timeline for withdrawal at the end of September.

The Pentagon is still scrambling for an explanation and Donald trump has yet to make a statement about the incident that is the worst combat fatalities of the Trump regime. There are a lot of questions yet to be answered. We’re waiting.

A True Good Soldier

Instead pf apologizing to a Gold Star family mourning the loss of a husband, father and son for Donald Trump’s insensitive condolence call, his Chief of Staff John Kelly, a retired general and a Gold Star parent himself, disgraced not only himself in a White House press conference but further insulted the family, a congress woman whom he does not know and his own son’s memory. He used his son’s death to excuse the unsympathetic word’s of Donald Trump to the grieving wife of the dead soldier and then he disgracefully used the deaths of thousands of others with his recount of his walk through Arlington National Cemetery to cover for Trump’s lack of empathy.

Charlie Pierce said this is how Trump is always absolved

There’s always somebody willing to step up and push their soul to the middle of the table for him to gamble with and, when he loses, because he always loses at the game of being human, he reneges on the bet because that’s what he always does. Of all the “generals,” Kelly always was the one closest to being a true Trumpian; his tenure at Homeland Security overseeing ICE showed that Kelly at least was sympatico with the president*’s Id-driven hardbar approach to immigration.

And now, by deploying the memory of his son, he’s given his inexcusable boss that boss’s most recent alibi for that boss’s most recent offense against human decency and the dignity of his office. There’s a great sadness in that.

Not finished Kelly, then, attacked a congresswoman, a woman of color, for listening to the phone conversation that took place in a liimosine on the way to the airport to meet the plane carrying the soldier’s coffin, calling it a “private call.” Congresswoman Frederica Wilson (D-Fla.) is a close family friend of Army Sgt. La David Johnson and the call was on speaker phone. Nor was this call private, Kelly and others were listening to Trump. He continued with his insults by calling her an “empty barrel” after her speech in 2015 at the dedication of Florida’s FBI headquarters incorrectly claiming she took credit for the building funding. Rep. Wilson was responsible for naming the building after two FBI agents slain in Miami in 1986.

 

In his attempt to fix Trump’s mess, he made a bigger mess. Kelly fits right into the Trump regime, lies, unable to even apologize, dragging our war dead, Gold Star families and a respected congresswoman through the mud, including his own son. A true good soldier.

The Breakfast Club (Happiness)

Welcome to The Breakfast Club! We’re a disorganized group of rebel lefties who hang out and chat if and when we’re not too hungover we’ve been bailed out we’re not too exhausted from last night’s (CENSORED) the caffeine kicks in. Join us every weekday morning at 9am (ET) and weekend morning at 10:00am (ET) to talk about current news and our boring lives and to make fun of LaEscapee! If we are ever running late, it’s PhilJD’s fault.

 photo stress free zone_zps7hlsflkj.jpg

This Day in History

‘Saturday Night Massacre’ takes place during Watergate scandal; Gen. Douglas MacArthur returns to Philippines; Jacqueline Kennedy weds Aristotle Onassis; Three Lynyrd Skynyrd members die in plane crash.

Breakfast Tunes

Something to Think about over Coffee Prozac

Go after what you really love and find a way to make that work for you, and then you’ll be a happy person.

Tom Petty

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