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PODCAST

Macro N Cheese

Steven D Grumbine

A podcast that critically examines the working-class struggle through the lens of MMT or Modern Monetary Theory. Host Steve Grumbine, founder of Real Progressives, provides incisive political commentary and showcases grassroots activism. Join us for a robust, unfiltered exploration of economic issues that impact the working class, as we challenge the status quo and prioritize collective well-being over profit. This is comfort food for the mind, fueling our fight for justice and equity!

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All Episodes

57:49

Messaging For Mainstream with Bijou Smith

Macro N Cheese ·

2023/05/06

New Zealander Bijou Smith is a longtime friend of Steve and the podcast. His story, in brief: “I was a physicist. I love physics, theoretical physics, but when I learned a bit about economics—I was always interested in economics from a sort of dynamical systems analysis perspective. It's kind of interesting mathematics. Even the neoclassical stuff is interesting for a little while until you realize it's a joke. But then when I heard about MMT, a lot of the pieces clicked into placed and it's like,

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01:23:25

RP Live with Clara Mattei

Macro N Cheese ·

2023/04/29

If you’re one of the lucky ones who attended our webinar, RP Live with Clara E. Mattei, then you’ve already heard this episode. Or you may have watched the video of that event. This podcast episode is the audio version, but we’re asking you to play it anyway. It never hurts to hear information a few times, and by playing it, you’re also helping us grow Macro N Cheese. Because algorithms.On Tuesday, May 2nd, Professor Mattei will be joining us for the first of two sessions of RP Book Club on The

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57:25

Taiwan: Manufacturing Consent with Carl Zha

Macro N Cheese ·

2023/04/22

Carl Zha brings us his knowledge of China, the US, and global political economic relations. He also brings his exquisite sense of the absurd.Exactly one year ago, Carl and Steve recorded their marathon discussion of Chinese history, resulting in three episodes about Mao. This time, they have Taiwan in their sights. Just like Joe Biden.Official US policy on Taiwan is just ambiguous enough to allow plenty of shenanigans, despite recognizing “one China” since the 1970s.“We know how the Cold War 1.0

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01:02:23

Left of Boom with Bill Black

Macro N Cheese ·

2023/04/15

**Every episode of Macro N Cheese is accompanied by a full transcript and an “Extras” section with links to further resources. Check them out at realprogressives.org/macro-n-cheese-podcast It’s been two years since Bill Black was last on with Steve. We’ve invited several guests to talk about the collapse of Silicon Valley Bank, so it only makes sense to ask our whistleblower friend to weigh in. Bill and Steve discuss what it means to be too big to fail. When an institution is too big to fail, the

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56:50

Nicaragua with Dan Kovalik

Macro N Cheese ·

2023/04/08

Author Dan Kovalik talks to Steve about his recent book, Nicaragua: A History of US Intervention and Resistance. His perspective includes his own experiences in Nicaragua and the personal connections he made there.From the 1910 occupation and eventual ouster of US Marines, through the dictatorships of several members of the Samosa family, the conditions for revolution were ripe. Dan describes the 1979 revolution as a David and Goliath story. The Sandinistas inherited a country steeped in poverty,

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01:16:57

Beware! the Counter-Revolution with C. Derick Varn

Macro N Cheese ·

2023/04/01

C. Derick Varn is a poet, teacher, and “arm-chair theorist” (his words, not ours), but Steve called on him for his deep knowledge of history, specifically the history of revolutions.Varn takes a realistic and nuanced look at some of the popular myths about the brutality of key figures, like Stalin and Mao. He suggests placing them in the context of historical geopolitical economic conditions.I'm also just going to remind people that both the Bolshevik Revolution and the Chinese Revolution, in

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56:07

Bank Failures 101 with Brian Romanchuk

Macro N Cheese ·

2023/03/25

When you learned of the run on Silicon Valley Bank, did the image of George Bailey come to mind, facing the mob demanding full withdrawals from Bailey Building & Loan?“You’re thinking of this place all wrong, as if I had the money back in the safe. The money’s not here. Why, your money’s in Joe’s house that’s right next to yours. And the Kennedy house and Mrs. Maitland’s house, and a hundred others. You’re lending them the money to build, and they pay it back to you as best they can. What are

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01:00:52

Payments and Panopticism with Raúl Carrillo

Macro N Cheese ·

2023/03/18

Steve always says the beauty of MMT is “it takes the most convoluted spaghetti diagram and turns it into a straight line.” When it comes to banking, the financial industry, financial technology, and privacy, has the MMT community developed that straight line yet? Today’s guest, Raúl Carrillo, thinks we can get there:“I don't think we quite have, but I think the straight line flows right through everything else we've done. Just as we don't want banks to be heavily involved in the public provisioning

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49:26

The Misery of Austerity with David Fields

Macro N Cheese ·

2023/03/11

Austerity is a potent weapon of class warfare. Political economist David Fields talks with Steve about the ways austerity serves to discipline labor, as it has been doing since the Bolshevik revolution. They touch on the reasons capitalism cannot risk full employment, as explained by both Karl Marx and Michal Kalecki.David wants people to read Adam Smith’s The Wealth of Nations or The Theory of Moral Sentiments. Even Smith, the father of the “invisible hand,” said government is instituted for the

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01:07:05

Surfing the Wayback Machine: 2017 with Fadhel Kaboub

Macro N Cheese ·

2023/03/04

Dr. Fadhel Kaboub was recently appointed Under-Secretary-General for Financing for Development of the Organisation of Educational Cooperation (OEC), an international intergovernmental organisation founded by countries from across the Global South. In honor of Fadhel’s new position, we’re releasing Steve’s very first interview with him from back in the day when we live streamed onto Facebook. Steve thinks his questions are very different today — more disciplined. Some of us can’t get over how young

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01:07:15

The Four Freedoms with Harvey J. Kaye

Macro N Cheese ·

2023/02/25

Historian Harvey J. Kaye joins Steve to talk about the complicated legacy of Franklin Delano Roosevelt. Kaye acknowledges many points in our criticism of FDR but goes on to discuss what Roosevelt was up against, and why he should be respected.“Because Gramsci, I think it was, said, when you judge the past, don't forget, you too shall be judged. I'm paraphrasing … When socialists start winning elections, then they can start telling me about how inadequate FDR was.”Them’s fighting words! But speaking

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01:01:56

A South American Currency Union? with Daniel Conceição

Macro N Cheese ·

2023/02/18

Recent episodes of this podcast have looked at the many ways in which the US attempts to maintain global hegemony through the deep state, the banking system, NATO, and the unholy trinity of the IMF, WTO, and World Bank.This week, Steve talks with Daniel Conceição about the possibility of a supranational currency for Brazil and Argentina. Daniel points out some potential benefits, but it’s hard to avoid comparisons to the Eurozone and the crippling loss of monetary sovereignty. Nevertheless , if

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01:00:31

The Myth of Venture Capital with Julia Ott

Macro N Cheese ·

2023/02/11

We revere venture capitalists, don’t we? Without their brave acts of derring-do — AKA investing in uncertain ventures — how would society achieve progress? Just kidding.If you are a regular listener to this podcast, you’ve heard guests speak about the horizontal contradictions within the ruling class. Industrial capital and finance capital can each be affected differently by foreign, domestic, fiscal, and monetary policies. They may sing from the same hymn book but sometimes their interests

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01:00:04

American Exception with Aaron Good

Macro N Cheese ·

2023/02/04

If Macro N Cheese wasn’t committed to spreading MMT to the activist community, we might have been a history podcast. Nothing excites Steve Grumbine as much as listening to 50 hours of lectures on the French Revolution or the Black Plague. This week’s guest, Aaron Good, checks a lot of our boxes. What he brings to the table is history with a solid class analysis.Aaron is the author of American Exception: Empire and the Deep State. American exception should not be confused with American

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01:11:19

The Recurring Saga of the Debt Ceiling with Rohan Grey

Macro N Cheese ·

2023/01/28

When you realize the national debt is little more than a bunch of interest-bearing savings accounts, you will have effectively neutered the politicians and pundits who wield it like a weapon to keep the people in line and tame the working class. Every year in the US, the debt ceiling alarm is rung right on schedule. Just like Halloween.Interest-bearing Treasury bills are not available to most of us. (Do you have an account with the Federal Reserve? No? Exactly.) Rohan Grey is back to explain how

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01:08:29

RP Live with Michael Hudson

Macro N Cheese ·

2023/01/21

In September, Real Progressives had a webinar with Michael Hudson. It gave our volunteers the opportunity to ask him about his book, The Destiny of Civilization: Finance Capitalism, Industrial Capitalism, or Socialism. This week’s podcast brings you the audio of that event.Although his book looks at three economic philosophies, the Q & A focused on contrasting the dynamics of finance capitalism and industrial capitalism. Michael makes the case that in its early days industrial capitalism

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01:08:40

A Crypto, MMT Retrospective with Rohan Grey

Macro N Cheese ·

2023/01/14

Rohan Grey always uses cool cultural references. Six minutes into the episode he brings up Tintin. Later we hear about Wile E. Coyote, Star Trek, Teletubbies and Wagnerian opera.The Tintin tale concerns a treasure hunt that required Tintin to find three maps; only when they were overlaid could he see the location of the treasure. Rohan Grey relates this to the critical juncture of law, political economy, and technology. He reviews the relationship of all three throughout the history of money.Rohan

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01:00:28

Spelunking the Deep State with John Kiriakou

Macro N Cheese ·

2023/01/07

When you Google John Kiriakou, the descriptive label that pops up with his name is Whistleblower.John was an analyst and case officer for the Central Intelligence Agency during the anti-communist era and then the anti-terrorist era. (Where did all the communists go? Aren’t they a threat anymore? Were they ever? Those will have to be questions for another day.)He is also an author, activist, and co-host of Political Misfits on Radio Sputnik. He and Michelle Witte regularly have Steve on their show as

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01:14:40

RP Live with Brett Scott

Macro N Cheese ·

2022/12/31

**Happy New Year from Real Progressives and Macro N Cheese. If you would like to help us continue to bring you great content, please consider becoming a monthly sponsor at patreon.com/realprogressives. Your contributions help pay for the tech platforms and equipment that keep this podcast alive.**This week’s episode is the recording of a recent RP Live webinar with Brett Scott, author of Cloudmoney: Cash, Cards, Crypto, and the War for Our Wallets.In terms of its politics, the digital money movement

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50:55

FTX and the Fall of Cryptocurrency with Robert Hockett

Macro N Cheese ·

2022/12/24

Alldigitalcurrencyisnotcreatedequal.Itstechnologycanpotentiallybeusedasaforceforgoodoraforceofevil.RobertHockettjoinsStevetodiscussboth.Let’sstartwiththeevil.ThecollapseofFTX,oneoftheworld’slargestcryptoexchanges,isstillsendingshockwavesthroughthemainstreamandfinancialmedia.ItseemsthatonlyMMTersareunsurprisedbyitorthechainreaction,asothercryptoschemesaretumblingapace.Bobdescribeshowthecollapsefollowsthesamepatternasthejunkbondbubbleofthe80sandthesubprimemortgagecrisisintheaughts.Pricesaredrivenupasmo

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