Nov 14, 2016|
Donald Trump wants to deregulate the banks that cause the 2008 recession and tear current free trade agreements. Good or bad for the economy? This hours guest: Andy Green - Managing Director, Economic Policy-Center for American Progress Thaya Brook Knight - Associate Director of Financial Regulation Studies
Should drug addiction in the city be treated as a health issue or drug issue? More deaths due to overdose in New Orleans than homicide. This hours guest: Dr. Jeffery Rouse - Orleans Parish Coronor
Bernie Sanders said he’s going to push his plan for a single-payer healthcare plan like Europe. He says Obamacare is costing us too much and the GOP can’t get their bill together to correct the problems. This hours guest: Michael Cannon - Director of Health Policy @ Cato Institute
OH CANADA! Could Canada be the next country to legalize recreational marijuana? Canada is proposing legislation that would legalize recreational marijuana by 2018. This hours guest: Chief Larry Kirk - Retired Chief ( Old Monroe Police Department, Missouri & member of LEAP (Law Enforcement Action Partnership)
Is an independent “select committee” necessary in the investigation of Russian hacking & possible collusion with Trump associates? This hours guest: Max Bergmann - Senior Fellow at Center for American Progress Steve Bucci - Director of the Allison Center for Foreign Policy Studies at the Heritage Foundation
Automatically Generated Transcript (may not be 100% accurate)
Go media thing doing Tuesday. The larger number of issues. Immigration. This and trump on sixty minutes goes. And he mentioned that to heal the port 223 million B problem with the crew world record. And I am a lot of my prints a book. Tour during the we live. And believed everything armory and even pro via a concert. To borrow. Has deported more people than any of the president. And primary over these focus on. The criminal elements all the way down to who demands the abuse. And for early minor. Crew charge. So. Bark for a physical thing shouldn't be that difficult currently. It's already been to him Obama and squares and Lou we'll talk to. Experts about them at broad and two and twelve news a war. Is well earned. There's anything else that can be don't trumped his bills and builders solid ball but you build a ball maybe with some students is made with a -- some electronic. And good news goes well the trump bikers on on two from election I don't that your teacher. When Regan took off as interim president Gibson as. They get a lot of they get it changed they go to get whatever they can because they can't just say what to do they have to get congress. And midfielders who weren't Wear them. Lebanon electorate or states boom room you know roots of so called recreational. Pot from a one. I think it's about god and so it's now that a bug legalized. All four. Made sure of that. It is mid dismissal of the available in doctor's orders and gets them. This hour we're gonna try to talk about the economics. Aboard troll is planning to sleep with a WWO brigade said adding yet more ruled 53 at him or go right back. Sort texting me and telling the Euro. Oprah and we did with the Obama would do. If it's and it's in the rose to their winning these. Presently position. It's its own positions and think about that mayor made me. You'll make better decisions while we've been doing in the future. To do that we've always Ludwig retrieved in the green managing director at can policy forum American congress. India appreciated that time. Oh. Thing to appalled at Bloomberg boy about November 11. It's a bonds plunged by one trillion dollars. Trumped policy users seeing boosting spending quickening inflation. It is is that still the case or did bond rook copper and and his quote didn't inflation or there. Good points and bad porch Cuba. You know I. I think organized and a lot of volatility in the market once things that he is true that Donald Trump has been whenever I'd just about every issue during the election. He's been in the paper. DP people on the US which create a matter of financial crisis. He's been in favor of you know not doing that he's been favorites massively. You've been completely paper typically cutting taxes for the wealthy but at what political paper madly cutting taxes from the class but he dialed that back in order to save money. To preserve his wealth tax cuts so. If it's very much unclear at the moment I think the real question is whether the Donald Trump international at the one that he talked about. A lot of folks don't vote for which is the trumpet gonna help working families or did some shows up that's going to be one that is providing massive. Tax giveaways in corporate giveaway to the very concentrations of power. Back on the left a lot of folks in a pretty pretty deep group. So is if you don't holdings said by helping born king pamphlets. That have an effect on the bond market to have an effect on the economy. Yes little fresher for sure I mean. Both Senator Clinton and Donald fumbles were actively proposing policies that would increase investment and things like infrastructure. You know he proposal one point five under belly up to 21 trillion dollar. Investment in infrastructure. You know he doesn't do via the deficit financed or via private capital and in certain circumstances. You know back and actually providing simple stimulant. Could. Began to adult support. Actually. I'm more steady like what we've been too low inflation for too long has won a lot of folks. Are are suffering in some ways. But you know the interesting conflict is that we don't know exactly what it's going to be and and you know the assistant on a consistent. Messenger at the plan. At the moment so. I guess what more on this as it if you are actually able to move. You know put their investment into the economy that you need. We can rely on the monetary policy extraordinary monetary policy and begin to return to little bit more normal interest rates. Very much is also dependent upon how you treat the banking system if you actually dial back the regulation and go back to it was prior to the financial crisis. We are very much exposing our economy can mass Nebraska and we're gonna keep on. There's going to be flight to safety in the bond markets because as a great deal couldn't risk that could emerge in the banking system. So either you if you got the dog bring rule now. And hunting group of troll even regional he has commented that he wants dialed that back. He would probably go to vocal rule which may end today from engaging in the room in the house trading for profits. Up. Good bad how does that affect the column. So as a staff person who worked on the here operator level grow pretty familiar and. It's really in the ideas about making sure that we do not concentrate so much. Economic power in a very small number they think about making sure that have a real. A capitalist market system that we haven't actors and the first that is able to make investments for. You know the long term returns in the economy. Not thinks betting against the American homeowners were betting that oil prices are gonna go whopper now. Dialing them back would be extremely damaging it would concentrate more power in the largest financial institutions and and frequently exposed in the types as. Boom and bust. Failures that. Helped precipitate the financial crisis. But. It is imperative if the vocal ruled that might be. Good in many parts. But the Glass-Steagall. Act be better where you break up the big bench all the Geller. Why you know I think that there is definitely an argument for it and I think both parties. Said they want to do 21 century Glass-Steagall. Questions like that look like it will look like Detroit or surgical steel bottle of Warren proposed. The typical a lot of the holes then pulled that were inserted in the old Glass-Steagall that used to be in place before 1999. Or it's going to be. The Swiss cheap plastic was that those repeal the 1999. On that dobbs frank began to close the hole. In 2010. So again is that going to be a policy that Argo and be about. You know make sure the middle on the stronger and making sure that we don't have a financial system that. Concentrate economic power at the expense of ordinary working. Working families aren't going to be him. Give weight to the very folks who caused the problems that we hearing right now. I think the rim several time. When it comes with the trillion dollar infrastructure plan and that the troll forums. Mitch McConnell said it's a non shorter news is it's it's not priority. If William did and that is where you know a lot. Is there anything else shoe were hearing from trump. The would be a good job jewelry. Other end infrastructure. Oh I. In. Really and if I frankly think that if fiscal advancements like infrastructure where the heart are the heart of what the economy needs to to continue to grow and exactly it has. I have been growing for several years that we had. Actual. Wage growth for the first time last year 5% wage growth and we think they're actually getting better. Even if it's not a speech he'll call cross country so. The channel does a lot of things that he he had proposed the board and Mitch McConnell Paul and has been talking about it and typically do it in I mean for the past. Text here are the very things that. You know on in and got into the match where in. And have concentrated. Economic power the models very small number of things like that tax cuts for the very well the repealing the state. To make sure that can't treat it and what power not passed on generation batteries that landed aristocracy in this country. Until it yet. But I will give the firm's credit for that he has been probably favor. Stop paying concentration of economic power by using antitrust. You know it's unclear whether he's got a coherent vision for what that means but. If you really study using it to try to bring competition and support small bit of a potential to be successful. Of putting them side of the environmental concerns breed because we're talking about the economy. I've I think you mourns the re do were eliminated. The cooling power or blues and clean war room old room room. If those regulations. Or taken away from from companies it would it would seem obvious urged that would free up Baldwin's. Is your chance to be does says that the company will plow it back into their companies to hire more people lord to expand. No no that the launch are dialog history of this and they Pollack right back into the stockholders and take their money and stick it in Swiss bank account you know I think the thing like they did in 2004. All that money sitting offshore we're gonna bring it back curriculum massive tax holiday to the big club in the big companies. Another ship jobs overseas ship their money overseas. And there are hire American workers there invest in the US well the top fifty companies product 150 billion dollars back. And laid off 21000 American workers between 20042008. Critical. Partisan. Senate investigation. So aptly that kind of thing you're gonna do this is about taking in the pot that these companies bull. Create on to others. You know the console polluted water at a cost of you know all sorts of forest fires in Beatles and oyster farmers protect their oysters can match polluted rivers. And and you know those that concert board everybody else. And the things like the regulatory regimes related to climate change clean power others to make that a company for those caught and stopped. Washington and others went to trumpet he proposes that really does push during those type of changes. Is going to be the companies that money. And shareholders' pockets of ordinary folks acutely as Kabila suffering with a par four and let people we have far more dangerous world. Think district it's even damaging for company's long term. Because if you actually think about the costs of climate change to the entire economy globally. I would be massively larger than the financial crisis of 2008. And you know we saw the devastation to a bit from that. And we simply cannot afford that troubled long term economic growth perspective either on the climate. I think you'd say Tuesday. His administration. Does not leave him climate change. So there there was like it would be much of that over the next storied years let me ask about fracturing he wants to loosen the rules for product. Your Louisiana obviously. I think. We're three more drop stood still have environmental concerns and a think a ma and local whole. Sooner of the larger is oil storage facility in the balance that he. They've been having hundreds of earthquake said they now tribute to protecting. It would appear to loosen the rules. Could we even become more energy independent and if we did would that not help the it column. He you know. The Katrina. If an independence is important. It's it's valuable advantage in the US we've got some amount. Domestic energy production. But we don't think very carefully about short vs long term jobs. And an impact on some jobs increased to some jobs that are actually lose jobs and current economic losses. You know it that far exceed the number of jobs created in the Republicans and and and trump and others like to talk about possible that that is well if we create three Johnson tracking and lewd and jobs because of earthquakes disrupting. You know fifteen other types of industries where we have really you know made much progress we've lost and jobs. And I think both types and ultimately we have to think very carefully about. A re going to be able to greet the jobs with them long to look a long run return jobs and clean energy jobs and solar and wind and other types of wait power down on the gulf country. Or we need to take the short job to give us you know a dollar to our pocket today but Costa. Very very quickly. In jobs in the economy for you know forget the cleanest of the harmless talk about money it it can be very very damaging very very quickly. Are good too good certainly appreciate your expertise. And the time they can calling and have agreed. Thank you are dead bodes and to bring to the American product groups and liberal organization incumbent directs. We're going to be talking to associate director of financial regulation. Studies. I'm not sure that some liberal or conservative would try to give both of them. More introducing things I think that there have been breeding. Is that Cha camera is saying hey. Go ahead cure albums trade agreements. Dog could Morgan will be pushing reliable. Pacts. Of the Rome. And everything I've read that says that. That could be at this phone talk a hundred countries. That could go with the children. On top of that and a child is so it'd be one of trade war. With Tara. Bureau I'm prone. Will either cut them all totally. Or they're going to be their reached in June. Trying to have a huge batch oboe. Orders for boarding. Airplanes. Directed it's according Cha and that could be easier robe please why thereabouts. Yours sort of their sales. Could Sovran setback whose Chara under good control of life of the foreign parts. Prone to do this country US soybeans. That is sold in China they could stop using them. They get a bugged Donald Trump Benoit his economic decisions might do forward again oops or maybe some more room to improve the economy. And for those who view on notre there's a wise. And attacking him. Attacking him at all it's called think tank do the same thing the Obama before he was president. Reload your body problem we've tracked him jury in his presidency. And reported one did and didn't do. Fact I voted for in the first saw them because what he didn't do I didn't vote for the second time so this. Includes a different opinion itself. Is Justin and from each and gab the ring section. The veteran deuce and some rather complicated. Issues and to do that. We're always routed the experts think it with Leo Brooke nine troops you'd rector of financial regulation studies that you welcome to the show thank you so much. Durable both forward given to the weeds on this. Am I remembered the U reviewed reading the book. The big short in the middle and actually move. And in both stone building. That apparently congress on both sides of the aisle. Warned for years there's this could it would happen. And what are now and cost about eight trillion dollars. O boards they decide ventured too big failed and therefore they said we. And our children and their children and common generations. Will continue to pay that dead. Just all of these suggestions. And Donald Trump and company are making. Do you see it any way that we can avoid that from happening again. I have economists on that seat could happen again with student yet. Economists don't say that it's happening again in the mortgage industry wonder what are your thoughts. And this is to try to prevent. That's been happening and I think that that its content that question because. The thing is if people were able directly connect crisis that's going to come probably wouldn't have these crises. And you know I think that that it actually implement the big problem booted. Dodd-Frank and other haven't. Too content to the sick what it do you that the problem from Iraq crisis. It's literally like yesterday's war. And so I think what's more important and the better question is. You know how can we help prepare our financial institutions. To be sufficiently resilient. Now in the basically term crisis. And you know that something can would be at two to downturn more you know kind of bad couple of days as a turning into a decade long crisis completely he missed time. A lot I think it part of it is. Changing the way we think. The financial sector so. I think the idea as that and if you keep this in dot thank you keep it in a lot of the political rhetoric we've seen it. The idea though we need to do with Tarek Al west but the problem at risk and what we need to do find it. And Kelly and replace it is on stability and the public stability is that it becomes stagnation and picket duty though. You know I think that ticket for example we talk about it has been a lot of talk in the it's financial credit of about too big to fail. And you know everybody has their idea of how we're going to stop should be detail. And I think what we've done it actually had to double down on the concept content. Where you even the provisions in Dodd-Frank. Financial stability oversight council. Obstacle regulators to designate different entities. Systemically important. And I think we've seen it that he felt in the banking sector in response to this and other thought franc as positions where. You know as he increased regulation acutely try to make campaign. More stable and part of that it has systemically important designation. Is that it increases the amount of federal oversight for an entity that does that mean it's an important. You need that we have more and more of these big banks and fewer and fewer of the smaller banks. And the smaller banks com. Really important to our economy. One thing we do it is you know it Citigroup. Ball tomorrow that would cause massive problems our financial system whereas if you know first bank of downtown USA. Go to under. It could be that that community but it doesn't have the shockwaves that a big entity. And yet. Yeah if you don't mind a little limited Brett Carroll to listen excellent fit and later prog and look at the clock. Take a break and come right back questions governments to music journal won't need CeBIT. Everything you've heard from trump and and his associates concern in the economy. McGill hopeful give you concern. We've got paired experts Gibbs called Dublin idea. All right we're thing good about the economy bug that trumpet administration might or might not do. We have they're broke and I'd with the associate director of financial regulation studies. They have to talk so I was listening close to butch said forward trying to break in my question it is. Is there a little argument for little or no regulation. And then the bit of that question I news. She and the economy did that troll used suggesting. That could give jobs to be disenfranchised. From any it would child put in office. You know I think that there's definitely. A case. There a lot less regulation we have I think that where he would take that down to. It. It can be hard to say because the standard banking sector. It's one of the most heavily regulated factors in our economy. And it has are opposites and yet this story that I don't know. It was regulated enough enough by the crisis. When you know that regulation on the part of the economy have been increasing. Every year for decades. And I think that there are a lot of changes that could be made that would increase the number of jobs. You know one thing we seen it go down. Since the commitment patient dot trying to tweak and that are that is the crisis that of the NC has also increased regulation we just don't have that much. Lending. Packed with businesses include an especially small businesses. And I think that it's hard to overstate how important these. Our art our economy. The vast majority of Americans are employed by small businesses and I think that some of these. Huge you know GE ER one of the big companies get a lot of attention but most of us don't work for those giants who worked for small companies. And the way that companies get their start and the Olympic glow. That is by getting my own competence from banks and small business lending actually been in trouble and locked up here at the table for the crisis. But the regulation that would increase since the cricket has not make it any better. And marketing event and for the break you know we've seen a lot of with the contraction in the sector meaning you know. We see a lot fewer banks on their bicker. And you know in the years since financial crisis and attack the total seven new banks chartered. We use you know doesn't work a year and vista's successor at the thickness that's part of our economy. Ms. Lloyd thank you so lodge are treated to Tom appreciate the call have a great day. No problem. There are new you know union more blood then we'll continue. In it is you've if you live in Brooklyn and if you read from my liberal publication. Aura and conservative publication. It's they're primarily just echo chambers so what are you from age from we have we usually. Try to show both sides of it. For the hoped that somebody's actually looking for the true. Savor this. You know brigade seventy. 1053. Of them. Are there blues whoa big bugger on election night that outside from Donald Trump. Marijuana. One big time election night. We'll think about that when we come back the in different states that legalize pot have legalize it sue Coleman did some little plot. And all the controversies. And complications. That go with the all the bad. What are your votes there's a 0187. It was called up and yeah.