Pavlina appeared on Background Briefing with Ian Masters on October 10. One topic is the new Chairwoman of the Federal Reserve Janet Yellen, the first woman to hold what is considered the second most powerful position in the world. Discussion includes the good news at the Fed and the continuing bad news from the capitol where the Republicans are offering a truce until November 22 before they resume their threat to default.
You can listen to the interview here.
In Part I of this six-part series I presented the President’s explanation of why he can’t use alternative options for coping with the default threat arising out of refusal to raise the debt ceiling, a summary of the kinds of difficulties characterizing it, and discussed two of seven options, selective default, and the exploding option, the President has to deal with it, apart from the way he seems to have chosen. In Part II I discussed the next three options, platinum coins, 14th amendment, and consols, and commented on the legal issues related to them. Here, in Part III, I’ll cover two options which have started getting attention most recently.
Posted in Joe Firestone
Tagged austerity, bill black, debt ceiling, debt limit, debt limit crisis options, debt-subject-to-the-limit, default, deficit spending, great betrayal, Jack Balkin, Kevin Drum, L. Randall Wray, Matt Levine, MMT, modern money theory, President Obama, public debt, warren mosler, wigwam
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