I love how Mr. Khan gives examples and explains things and he's absolutely correct that politicians need to take the time to explain and help people understand the policies etc because the old way of "trust me bro" isnt working. Most people dont trust politicians anymore because of rampant corruption in politics. People are sick of seeing politicians get rich while we all struggle daily to pay the bills.
In America, the point is for us to not understand. If we understood then we would realize our leaders dont give a hint of giving a shit. They are more concerned about where the money is at. Policies are to serve those with a lot of money and power.
I really like that guy. Putting spending limits on campaigns are so important. Also, I am 100% behind a 6 week elections. Thanks for another great show Jon.
You do understand he was dodging the "Why did Labour cut spending on the poorest pensioners"-question, right? I understand why Jon didn't push on this but he was right to point it out.
@@daveogfans413Do you know how Winter Fuel Payment works and how many were affected? I think it was politically more harmful than it will be for pensioners.Depends on how tight the means-testing is applied.
@@youtubewatcher2 I wouldn't introduce it but I wouldn't scrap it either. It's a bad look for Labour and doesn't take away doubt with regards to Starmer being a red Tory.
@@daveogfans413 Agreed. Optics are especially bad in connection with the "gifts" being.somewhat hypocritically decried in the traditional Tory press. But I am not expecting anyone to be found frozen because of the cuts.
@@youtubewatcher2 "But I am not expecting anyone to be found frozen because of the cuts." And yet I've read about living conditions of the poorest pensioners during particular harsh winters in The Independent and The Guardian. Listen, it shouldn't be required at all. It's wild but afaik Labour was rightfully attacking Tories during those harsh winters. Now it's somehow acceptable to cut? I wouldn't even mind if the cuts follow after a better spending policy is already decided or ideally implemented. It could've waited. I think lots of people are drawn to populism, because both the "left" and conservatives aren't actually redistributing wealth to the people who need it most. The time where UK really had a radical Labour choice, said candidate was backstabbed by corporate leftist press (like Guardian and Independent) as well his colleagues. Weird how he had massive support from Labour member yet got backstabbed by the people he campaigned with. Hmm, strange. Almost like there is a considerable amount of career politicians that would rather have Boris Johnson than Corbyn. Labour changed during the 90s, together with lots of social democratic parties in Europe. Ever since then, we've seen a trend of working class people increasingly voting for right wing pro-austerity politicians (tax cuts for the rich; cuts to social services for the poor) because they're good with the economy and keep immigrants out. It's what happens if the party that ought to fight for worker's rights is too busy enriching themselves or at least protecting the status quo.
@@destinal_in_reality I didn't understand completely how the dynamic worked, or ultimately how the deficit worked. I understand that if you have too much money you create inflation, but it depends on where the money is being spent. Right now it seems like most of the money is being spent buying up housing or being dumped in the stock market, which is why we have high inflation in those 2 parts of the economy. It seems like if you tax the rich and the corporations properly, and end all the loopholes, and stop the stock buybacks that corporations do, you could put an end to a lot of this.
@@adammarshall6257 I think creating money to fund things inevitably causes inflation compared to what would happen if you didn't. Now there is a question about the velocity of those new dollars, how much they're held vs spent immediately that controls how FAST that inflation hits, but it's not avoidable, you have to tax OR borrow OR inflate to pay for things, because you have to get the resources from somewhere and those are the ways you can gain control of those resources.
Hey Mr. Steward could you please have Stephanie return for a full episode? She gave so much good information in just a little time. I understand the first hit is free 😂. Now I am a little inspired and less hopeless about what I see on TV.
Jon is a particular type of comedian -- a person with a very clear sense of the absurdity and hypocrisy of everyday life. That is why he is the perfect prism to focus the white noise of our insane society and political landscape, and allow people to focus on one particular issue or perspective at a time, in a clear and coherent yet still entertaining way. A lot of former Daily Show people have this gift, but I think only Jon and the other John (Oliver) really have the depth of knowledge and quick responses to do it at this level of genius
This was one of the best podcasts, or frankly any medium, that discussed immigration that I've watched or listened to in my recent memory. It should be required watching for all, both sides of the conversation. Thanks John, and thanks Sadiq.
I’m so proud that Brits keep voting sadiq in, he’s such a great guy and a genuine in honest politician. Despite the racism all around it’s a beacon of light
I love that Jon Stewarts podcasts are slowly turning into a place where economists, of different opinions and schools of thought, reply to each other in an ongoing discussion. I magine that many other of those discussions, even though still public, take place in forums, that are more within the economists own bubble.
A good economist, almost by definition, is one that does NOT exist within a bubble but is always open to alternative views of an issue - as long as those views are based on a rational explanation and not devoid of empirical evidence.
@@EconomistGI I guess the use of the word bubble was a bad choice then. What I meant was that, discussions as nerdy and in depth as this, might be reaching a different audience than they usually would. Because Jon Stewart attracts a wider audience. Like the audience of this podcast might have an interest in discussions like this, but might not seek them out themselves or come across them naturally otherwise. So I just meant, that this might be reaching other people than it usually would, while still being fairly in depth and not superficial. Jon is of course no economist, so it is perhaps not as in depths as if there were only economists talking to each other, but that helps for people who aren't already cued in on the ongoing discourse, by asking the "stupid" questions. Oh, and that I like that the discussion is ongoing because different economists keep coming on the podcast in response to each other.
I loved that conversation with Stephanie Kelton. It reminds me of the conversation a few years ago about Modern Monetary Policy. It really highlights how public spending can get conflated with personal finance and the issues that causes for policy making.
Stephanie Kelton, was very insightful with her assessment regarding the Fed, treasury bills, notes and bonds, banking system. Her book The Deficit Myth seems interesting to read. Would like to read it.
Be warned once you start seeing money and taxes through an MMT lens, you will be enormously frustrated by 95% of the economic discourse you hear from then on. Increased yelling at the telly may occur.
@@marmotsongsthe MMTers think they have such amazing new insight, like who before this knew that we could tax OR borrow OR inflate away the value of the currency or some combination of the three?
@@destinal_in_reality No, that's not one of the insights. In fact, you are confusing the descriptive aspects of MMT which people such as Greenspan and Buffet recognize (when under oath) with prescriptive actions MMTers are putting forward based on the description.
@@marmotsongs it is what Stephanie Kelton is pointing out in this video, what if we didn't borrow the money to pay for government spending above the level of taxation, and just printed it instead? Congress doesn't have the power to just spend money into existence, they spend what is in their account at the fed that is funded by taxation and by borrowing. But if they could just spend money into existence, that's what is referred to as money printing and is inflationary, if not immediately, in the long term.
8:55 Here's "the part we don't ever really discuss": "Undocumented immigrants are paying billions of dollars each year in taxes. In spite of their undocumented status, these immigrants-and their family members-are adding value to the U.S. economy, not only as taxpayers, but as workers, consumers, and entrepreneurs as well. A new study shows that undocumented immigrants paid nearly $100 billion in federal, state and local tax revenue in 2022, while many are shut out of the programs their taxes fund. The findings run counter to anti-immigrant rhetoric that undocumented immigrants are 'destroying' social programs. In 40 states, undocumented immigrants paid higher tax rates than the top 1% of the income scale in those states, according to a study released Tuesday [Sept.] from the Institute on Taxation and Economic Policy."
that's completely false. if they are undocumented they can't even pay taxes even if they wanted. because they are, undocumented. you can't even have a social security number. they aren't even allowed to work. they have no permit. that rhetoric is false.
Precisely! Immigrants give more than they take, and as the second half of the show demonstrated, the government is paying interest on/subsidizing the holdings of the financial sector and our wealthiest individuals. It's so damn backwards.
If migrants pay taxes, or in general, if the number of tax paying citizens increase, and therefore the tax revenue increases, but if infrastructure and services no longer support the needs of the tax payer, then either the government needs to increase expenditure on these items or citizens should be getting a tax break, for services that are no longer being supplied. Obvs, Infrastructure takes a lot longer to be delivered and bear fruit, but the principle stands IMO.
@@PianoDentist migrants don't pay taxes. they can't even get a work permit. they can't have a social security number. they pay zero taxes. you are paying for them.
But that same year undocumented immigrants cost the United States over 150 billion dollars.. so they are still putting us 50 billion dollars in the hole
I love that it has come true. I made a comment and asked for Stephanie Kelton to respond ❤. I want , mmt, and Stephanie ,to give us their economics and try it out!!!!!
The "pension thing" in the UK - a winter fuel allowance of £200-300 was given to EVERY pensioner. Regardless of income. 25% of pensioners in UK are millionaires, they got the WFA as did many well off who liked the extra payment to add to their spending for their second cruise of the year. Labour have altered the universal payment to a means tested one, meaning the poorest STILL GET IT. But to hear the tory outrage, you would believe labour had scrapped the whole pension scheme. RW press are claiming millions of pensioners will freeze to death. For £200? Nobody is going to die for £200. It makes far more sense to give it to the needy, not the greedy.
Absolutely spot on! This needs shouting from every roof top. My dad is 77, a widower, has his state pension and a work pension. He worked in a manual labour job for 45 years for the local council. His wages were crap but he always knew he would get a good pension. Somehow, he also has some good savings/investments. He also lives in social housing. He doesn't qualify for any income assistance and therefore will no longer get the WFA. HE DOES NOT NEED IT! It should be means tested, and those who need help most should be given all the help we can give.
@@davidadams3408 As Sadiq would say, spot-on, to you and Carolyn. I would say, maybe the 11K cut-off level is too low and it should be doubled. Means-testing is not cheap to instigate though, I'm led to believe.
@MrKeefy1967 of course and there is certainly room for a proper discussion about where the cut-off should be, but wherever it is there will always be some that fall just outside and will feel like they're missing out or have been harshly penalised
@@davidadams3408 We're in a similar position. Also in social housing, not on housing benefit or anything and a cruise is our idea of purgatory. We didn't need it either.
Also needs saying the pension was raised by far more than £300 last year, so they've got a slightly smaller raise overall, they're not slapping food out of old people's hands and laughing, as the right wingers would have people believe.
Stephanie Kelton blew my mind with this dept discussion. What would actually happen if we just did not issue certificates or treasury bonds to offset any deficit.
My guess is hyperinflation. If increasing the money supply were the only instrument, then its a simple case of supply and demand. At some point governments would be forced to increase taxes and adopt deflationary economic policies simply to keep their currencies from collapsing.
@@catherinewilliams9680 Really, read her book. It is like an epiphany when you “get it”. I think just about everyone must feel that way, like you’ve been looking at things through a reversing lens and now you’re not. I know she must have experienced the same thing because she started off trying to find the obvious flaw in MMT but ended up realizing that it was actually the correct description of money and taxes.
@@Grizabeebles Why would slowing down the production of increased money supply cause hyperinflation? In her analogy, the FED is already injecting 2 trillion of cash into the market. Adding interests on top of that would just be injecting even more. Stopping the interests would seem to inject less money into the economy.
Thanks for binging in Dr. Kelton to talk about macroeconomics. She explains it so simply even lay people like myself understand these basics and can now demand our politicians to manage the economy better. How can we get people like Dr. Kelton to run the economy?
Sigh. School was hard today. I did not understand everything that was discussed. That's ok. The first explanation of things is often the most difficult. Next time, I'll understand ... a little. Please don't stop talking and sharing these valuable insights and interviews. They really are totally amazing. I don't think I'd run across this information anywhere else without Jon's assistance and guidance.
Man I love this podcast and it’s interesting to see Jon talking about things here and then referencing them during the daily show. This man is the goat fr
He keeps claiming it’s young people being fooled by their echo chamber. This is absolutely a universal problem. However, it’s not young people that I experience being the most dogmatic toward their echo chamber. It’s our eldest generations.
I didn't hear it as a competition on who is most scamable. I see it as they said it's a problem for everyone to deal with and that Meta, X and other SoMe etc isn't taking their share of the responsibility. We, who knows all this should help educate people around us no matter their age.
It's both. A lot of young people are "radicalized" by tiktok and UA-cam. Once someone is identified as mildly right wing by these or other networks, they can very quickly be funneled into a stream of misinformation and conspiracies.
I concur. We are all in our bubble silo away from seeing the diversity of what is going on in people’s every day lives even locally especially in metropolitan a cities but even in rural communities. The internet is a great tool for extending the scope of our experiences, understanding, and knowledge. But we have to news stories with some skepticism and confirm facts from multiple sources. Gossip, conspiracies, and outright unsubstantiated lies blended either propaganda to manipulate us and propagated by social media algorithms is something we need to be aware of. Must people are busy surviving and keeping themselves and if they are lucky their families alive and fed with roof overhead to shelter which allows them to sleep nightly. Critical Thinking is always a priority.
All he said is kids are being raised on echo chamber algorithms now? Sadiq Khan will be in the top 100 most hated people online, he knows it’s not kids at the moment but fearful it’s just going to get worse.
Really interesting! Thank you! Sadiq Kahn is such a reasonable and thoughtful guy, I’m pleased London re-elected him and I’m pleased he stood given the abuse daily threats to his life. He has more security than the Prime Minister and is incredibly brave in the face of it all. He didn’t mention any of that in relation to social media but it’s having a huge impact on his own life.
Couldn’t agree more. The American election system is exhausting me, & I live in Oz. We have a State election 25/10, basically haven’t seen to much campaigning 🇦🇺
We don't really have a 6 week election cycle though, politicians are constantly campaigning for 4+ years before the election. What's different is a party does its 'primary' straight after losing an election and strict spending limits. That means the 4 years of campaigning is mostly the leaders arguing over policy / values and not trying to raise funds
Most of the democracies in the world have both campaign limits and time limits. Some have spending limits, some countries limit donations to under $3,000 per person or company. Imagine how much LESS influence the ultra-wealthy would have if they're NOT allowed to create PACs nor donate huge sums. Oligarchy is defined by the political influence exerted by the wealthy. The US has oligarchs who have become ludicrously influential.
It's not 6 weeks, but technically speaking, our elections last only ~3 months. Our parties hold conventions in mid-July and determine who they're going to put forward as a candidate, they then campaign for those 3 months until November. This is the exact reason the Democrats were able to reverse course with Biden and front Harris at the last second. Nothing had been decided yet. The issue, of course, is our primary system incentivizes up and comers to be angling and campaigning for that nomination and "not campaigning" and fund-raising and all of that for 1-4 years depending on how you reckon it prior to all of that.
The problem with making social media a public servic, is which countries public service are you going to go by, as there are a lot of different ideas as to what public service is, depending on the country you are in. EG in the US you have free speech, while in most European countries there is protected speech, who knows what they have in Russia or China.
@@markgigiel2722 You are not even thinking. Social media is not a singular entity. They are just big websites with a lot of users. When the government start regulating these websites, that's censorship.
I’m in the UK. The “dark tunnel” has been very long. Finding out that it’s going to continue, for the foreseeable, is no surprise or revelation. However, a change is as good as a rest, thank God for the British sense of humour.
my mother was English and at one low point in my life, she said, as long as you have your sense of humor intact, you can make it through anything and it’s true, lol. it will be over soon and Kamala is favored to win by Lichtman. he has predicted presidential elections since 2004. many republicans are joining us too. it’s looking really good. 😈👊👊👋😄🐁🐀🐷🐈⬛🐈⬛🐶🐶🐶💙💙💙🗳️🗳️🗳️🦋🦋🦋🦋👋
Jeezus Jon, Professor Kelton is too f'ing clear about the past 50 years of neoliberal/Laissez-faire/trickle-down economic policy. Get her in the Harrison/Walz econ policy room ASAP!!!
@@ronny-lb1cr agreed mostly but "neoliberal" is a poor term in general and often misunderstood, hence use of other names: Libertarian = unfettered, no regulation , no gov interference in the free-market. Or "liberal" pursuit or laissez-faire economics which is a "neo" conservative concept central to Reaganomics. Thus, it embraces neoliberal tenets at its core and is an extreme form of neo-conservativism for the market explicitly. Monopoly/oligopoly and "trickle-down" is fine with either neoliberal or neoconservative...which Reagan had no prob with either. "Liberalism" wants well-regulated commons (no monopolies) and pay taxes for gov programs that assist citizens i.e., affordable education, healthcare, housing, and food. Maybe better terms might be Progressives vs. "Regressives"? But even then it wouldn't capture a progressive libertarian who wants no civil restrictions like liberals but also no free-market constraints even when monopolistic like conservatives. So, cognitive dissonance abound in terminology. I've heard the argument that Libertarianism (Barry Goldwater, Gordon Gecko, Elon Musk) is so contradictory and unrealistic, it's analogous to a 16 year old male's wet-dream of sex, drugs, and rock-'n'-roll as a lifestyle goal. Which would be nice if not for natural and logical consequences. That is, if you have the money to cover all the contingencies and liabilities in life...living the Gene Simmons' life-style sounds fun honestly. But for the vast majority of us, not realistic. Especially for me, given my lack of musical talent and pure luck to be "discovered" by the industry. Anyway way-too-long divergence...🍻
I learned way more and had so much of a deeper insight into the foundation of economics from listening to Stephanie for 13 minutes than Jason's entire contribution. That line of "You can't run out of money, you can only run out of things to buy" hit me as something so obvious in hindsight.
I appreciate he walked the walk of trying to be an educator and provide context at every turn to a given question/situation. It can be a bit tedious at times, particularly if you are already informed on the issue, but I think it's crucial to make sure everyone is talking about the same series of events in political discussions.
Mayor Khan's story of how his opponents used an AI fake of his voice is just the start. Especially for public figures, it's so easy to make an AI clone of someone's voice these days. Why couldn't we have just used that tech for Happy Birthday messages or memes for our friends? Why did someone have to ruin it and use it for malice?
That’s why we can’t have nice things. Same with nuclear. The dude that split the atom never thought his discovery would be used to flatten two Japanese cities. It’s how we are self limiting as a species. We self purge.
Well Sadiq Khan was a breath of fresh air. He has put so much thought into his views and his promoting America as the leader of the free world and the need for American leadership around the globe made me emotional.
@@Gabriel_H77 "Why? Congress. Whose fault is that? Voters " When voters get to pick between a red tie douchebag or blue tie douchebag is it their fault?? I'm in the UK it's the same but the red and blue reversed but neither "party" represent the voters!
@mattharker9212 So if a product is killing us, there is no legal path for liability for those deaths? That's all a platform is. A product, one that's killing people.
I absolutely love these Economic conversations you have! I hope we can have an extended Econ 101 / Econ for dummies some time. I would love to understand more about this. It sounds like the Economy is really the 4th branch of government but we don’t resource it or pay attention to it like it is.
On the Election Issue. Sunak's annoucement was wholly unexpected. From that moment the election began, from start to finish with a new government in office and drafting legislation in 42 days,
I love this quote that I use everyday I see something that's designed to insight anger and fear and makes me want to fight back online, "Contrary to popular narrative, humanity is not one massive debate club steeped in academic prowess."
I'm proud that Sadiq Khan is my mayor. There's a reason he keeps getting elected. He's a lifelong Londoner who really understands this city and his people. Plus he name checked Count Binface in his acceptance speech and credited him for beating a far right party in the last London mayoral election.
The shitstorm is already here under Biden/Harris or have you not noticed the genocide in Gaza? The nuclear war that is close to erupting in Russia Ukraine conflict? DJT is unfortunately the lesser of two evils.
Jon, Canada's Bank of Canada(our federal reserve) used to loan money federal & provincial governments until Pierre Trudeau turned off the taps in 1972. Until then we were essentially debt free. Now we borrow from private banks and have significant (unnecessary) deficits & debt
Love the topics you guys cover. I have a suggestion that you guys have an episode about biotechnology. There have been some really profound advancements in the field recently, referred to as synthetic biology. I bring this up because these advancements have the potential to be similarly impactful as AI on society, but it hardly ever gets coverage in the media. Getting this out in the public discourse is going to be really important because this technology has tremendous ethical and societal considerations. Navigating the kinds of regulations, funding and responsible usage of this technology is going to be complex and getting people informed is the first and most important step. Keep up the good work!
I'm in Australia and our elections are 5 to 6 weeks and we all vote on a Saturday unless we do mail in or absentee voting. All parties have to give their proposals to be accessed as feasible. Plus our government departments and the funding continues without being used to shut the government down.
It has trickled down though. Locally owned general stores are now corporate owned dollar general locations. Small grocery chains and large department stores are now Walmarts. Jobs are now mostly available in one flavor, big corporate. Because that's who gets all the cheap loans from banks who borrow at near zero interest to then create money out of thin air by fractional reserve lending.
Love this guy Jon, saw his meat sales joke in the uk years (decades?) ago had wondered where he went. Made it big in the NY city great. 💚 - Democracy is the least worst form of Government.
Keir Starmer has effected my life in a bad way, I'm a disabled pensioner who has lost out in a disgraceful way, I'm in my middle 70s and now I am going to suffer once again, I have suffered under the Conservatives especially because I'm disabled, I managed to live through the Pandemic that was badly mismanaged by Boris Johson's Government, and l started paying taxes on my tiny private pension under Rishi Sunak. I have always voted for the Labour Party, the Party that has always been known as the Workers Party, I am gutted that their first action is not to tax the under taxed wealthiest people in our Country, who can easily survive paying a bit more in taxation, but to hit pensioners ability to keep their homes warm while heat cost are soaring. Kier Starmer and his Chancellor are disgraceful.
The winter heating allowance is a few hundred quid a year. At the same time the government have committed to increase the state pension by a thousand or more a year. The winter fuel allowance has not been abolished for the poorest pensioners, you only lose it if your income is above £11K. I agree with you that that level should be raised, maybe doubled. But I can't agree that all pensioners, regardless of their income should get it - many pensioners don't need it. I also don't agree that its impact is that damaging - it's not that much money compared to the rise in state pensions - I think this is being overplayed as an attack on pensioners by Tory supporters who have little else to talk about - just like the free gifts and hospitality 'scandal'. I do sympathise if you're one of those pensioners who do genuinely need it and are about to lose it - this should have been better managed by the government.
There's an awful lot I wish you'd raised with Mr. Khan. 1. "Short-term pain" sounds a lot like Reagan. And Thatcher. 2. I'd also love to hear what he has to say about the purges carried out by Starmer? Anyone with a progressive record was "un-Laboured" before the election (almost all people of immigrant background). 3. What about Jeremy Corbyn? He was basically destroyed by Labour for his pro-Palestinian advocacy. Sounds a lot like the Democratic party in the US.
The Democratic party is Centre-Right by UK standards, and are more akin to the the traditional Tory party. What Khan fails to note is that the US centre ground is skewed heavily to the right, mostly due to the legacy of McCarthyism. In recent years, the Tories have shifted heavily right-wing, and Labour have long been dabbling as a Centre-Right party.
Corbyn was insanely unpopular with the British public; he's on record supporting basically every anti-UK group of the last 40 years and called Hamas his friends and said Russia didn't do the Skipral posionings which killed 3 British citizens on UK soil, using a nerve agent only Russia uses and targeting a Russian defector to the UK Hamas is a banned terror group in the UK because of how they've acted
@@Gabriel_H77 Yh, when you say the Tories have shifted right though that's a reflection of their members not their voter base, which is why they got hammered. On almost every issue, except taxation, a majority of Tory voters would vote Dem in the US. The only reason they didn't lose in 2019 is because the Labour party really went off the deep-end
100% While I love Jon let’s be honest he is slightly to the left of Kamala. Jon isn’t gunna raise the Corbyn smear by Starmer because it would hit to close to home with what Dems did to Bernie. Also Sadiq would never criticize Starmer. The thing liberals have done is put brown faces in high places while policy stays the same.
6 weeks 35 million limit and rules for the press about equal coverage. They have to give the same amount of media time to both candidates by law. When the party wins, they start governing by the end of the week.
I love the way John and Sadiq talk about democracy as though it still exists. A few home truths about UK democracy: 1) the public don't choose the candidates at elections - people who have no connection with constituencies are forced on the local communities by party leaderships - especially in "safe" seats. This is true of the Conservatives (my MP is Rishi Sunak who had no idea where Yorkshire is until he got here) and even more from Kier Starmer's Labour in the last election. 2) No government has had a majority in terns of the voting public within my lifetime. Indeed many governments have had around a third of the vote and a large majority. 3) The last general election in July gave Labour a massive landslide win but in reality Labour got fewer votes than Jeremy Corbyn in 2019 (famously described by Starmer as the biggest Labour loss in history). 4) Taking the electorate as a whole Labour got 20% of the vote of those eligible to vote (and only about a third of those who voted). The UK does not have a democracy - 80% of the electorate did not vote for Labour (by the way I did, to try to unseat Sunak). The USA is no better ... a massive electorate gets to choose from two candidates every four years. If Trump and Biden were genuinely the best the USA had to offer in 2020 it is really worrying! On top of that politics in the USA has been bought by the rich - it doesn't matter who is voted for the largely same policies are in place. Is it surprising there is mass dissatisfaction with politics on both sides of the pond?
Jon, I love you. Respect for all your work, veganism, being a coke guy (chapelle), and... I looked through the videos here, the playlist, shorts, I don't know the title of the original but there was one podcast a few years back now, maybe not this title, where a refugee openly shared his life with you. The msn had been through more than most should endure, then he went back to the area he was born to work to secure his family and everything you asked built his forum for discussion for the listener. You shared humility and gratefulness in his existence. I was hooked outside the DS and everything but I'll have to keep looking. It is a powerful forum. Not an interview or like some folks call... yeah it is a podcast for trend but you do naturally make forums. That aside... I did coke and it was good coke, once. Some guys I was getting to move out of an area were killer types. One had killed a guy with a brick for $40 owed and I dont know the other guy. Never done it before and it was great. For me time slowed, stuff made sense... then at this club I was on the dance floor and everybody else there started breaking out into some synchronized dance. I followed two beats then left politely. The club and folks moving about me made sense like I hadn't known in my life. There was time to breathe and I don't know how to share that view to anyone who might not have experienced it for the benefit vs the dependancy. But I'm not rich so I don't do coke. That's cognitive dissonance mostly. An awareness that folks have in themselves outside of their own conditioning and habit/reward system that something either might help them or is long term hurting them. And really here the interview is solid. I learned a lot. But I feel, at this point you are waaaaaay too generous in saying that any 't' supporter has some cognitive dissonance about what we face with duverger's law still in place and clear DARVO rhetoric from 't' with the end goal always being what's the budget, timeline and terms of success? Cognitive dissonance is the blessing of a saint to parasites. And all life is more important than anything but it's a disservice to say that kindness with such grasp of satire. Habit/reward loop conditioning issues to face with budget timeline and terms of success at best. (Dictated but not read, cheers)
Important note... yeah those fools moved out. Dogs who didn't know they're dogs can sometimes be dependable cause they'll respond the way they respond.
Love this show! It really is sad how much the banks and big corps make and how little of that ends up in the average person’s pocket or small business.
I really love your taste and style always so chic. My faves would be the kislux leather backpack and the Swarovski pave diamond ring so gorg. Thank you for your recommendations.
Two of my favourite people in the world - together 🥰 Sadiq K and John S. Sò proud of my Mayor
what she said ☝🏼
I love how Mr. Khan gives examples and explains things and he's absolutely correct that politicians need to take the time to explain and help people understand the policies etc because the old way of "trust me bro" isnt working. Most people dont trust politicians anymore because of rampant corruption in politics. People are sick of seeing politicians get rich while we all struggle daily to pay the bills.
He's ones a few politicians that talk sense which means he probably won't last long!
In America, the point is for us to not understand. If we understood then we would realize our leaders dont give a hint of giving a shit. They are more concerned about where the money is at. Policies are to serve those with a lot of money and power.
@@ScarySox He was re-elected this year. My bet would be he is the successor to Starmer (which given his initial missteps could be sooner than 5 years)
on his fourth term as mayor.
Spot on 👌
Brilliant interview fantastic as a Londoner deep issues discussed. Thank you Mr Mayor and Jon
I really like that guy. Putting spending limits on campaigns are so important. Also, I am 100% behind a 6 week elections. Thanks for another great show Jon.
You do understand he was dodging the "Why did Labour cut spending on the poorest pensioners"-question, right? I understand why Jon didn't push on this but he was right to point it out.
@@daveogfans413Do you know how Winter Fuel Payment works and how many were affected? I think it was politically more harmful than it will be for pensioners.Depends on how tight the means-testing is applied.
@@youtubewatcher2 I wouldn't introduce it but I wouldn't scrap it either. It's a bad look for Labour and doesn't take away doubt with regards to Starmer being a red Tory.
@@daveogfans413 Agreed. Optics are especially bad in connection with the "gifts" being.somewhat hypocritically decried in the traditional Tory press. But I am not expecting anyone to be found frozen because of the cuts.
@@youtubewatcher2 "But I am not expecting anyone to be found frozen because of the cuts." And yet I've read about living conditions of the poorest pensioners during particular harsh winters in The Independent and The Guardian. Listen, it shouldn't be required at all. It's wild but afaik Labour was rightfully attacking Tories during those harsh winters. Now it's somehow acceptable to cut? I wouldn't even mind if the cuts follow after a better spending policy is already decided or ideally implemented. It could've waited.
I think lots of people are drawn to populism, because both the "left" and conservatives aren't actually redistributing wealth to the people who need it most. The time where UK really had a radical Labour choice, said candidate was backstabbed by corporate leftist press (like Guardian and Independent) as well his colleagues. Weird how he had massive support from Labour member yet got backstabbed by the people he campaigned with. Hmm, strange. Almost like there is a considerable amount of career politicians that would rather have Boris Johnson than Corbyn.
Labour changed during the 90s, together with lots of social democratic parties in Europe. Ever since then, we've seen a trend of working class people increasingly voting for right wing pro-austerity politicians (tax cuts for the rich; cuts to social services for the poor) because they're good with the economy and keep immigrants out. It's what happens if the party that ought to fight for worker's rights is too busy enriching themselves or at least protecting the status quo.
Stephanie Kelton is so smart, she just helped me understand that so easily, she must be an amazing professor.
Before this you didn't understand that we can pay for things through taxation or borrowing or inflation?
@@destinal_in_reality I didn't understand completely how the dynamic worked, or ultimately how the deficit worked. I understand that if you have too much money you create inflation, but it depends on where the money is being spent. Right now it seems like most of the money is being spent buying up housing or being dumped in the stock market, which is why we have high inflation in those 2 parts of the economy. It seems like if you tax the rich and the corporations properly, and end all the loopholes, and stop the stock buybacks that corporations do, you could put an end to a lot of this.
@@adammarshall6257 I think creating money to fund things inevitably causes inflation compared to what would happen if you didn't. Now there is a question about the velocity of those new dollars, how much they're held vs spent immediately that controls how FAST that inflation hits, but it's not avoidable, you have to tax OR borrow OR inflate to pay for things, because you have to get the resources from somewhere and those are the ways you can gain control of those resources.
Hey Mr. Steward could you please have Stephanie return for a full episode? She gave so much good information in just a little time. I understand the first hit is free 😂. Now I am a little inspired and less hopeless about what I see on TV.
From memory, she did discuss this in a full episode of the Problem podcast. Would recommend.
Jon, as a comic has the most insightful and thoughtful conversations. We should all start to use the adjective "spot on".
SPOT ON! My friend. It's a wonderful phrase.
@@kimishere2822 hakuna matata🎵🎶...sorry wrong song
Spot on..
Jon is a particular type of comedian -- a person with a very clear sense of the absurdity and hypocrisy of everyday life. That is why he is the perfect prism to focus the white noise of our insane society and political landscape, and allow people to focus on one particular issue or perspective at a time, in a clear and coherent yet still entertaining way. A lot of former Daily Show people have this gift, but I think only Jon and the other John (Oliver) really have the depth of knowledge and quick responses to do it at this level of genius
Spot on! @@k-matsu
Amazing conversation. Thank you Jon and Sadiq. Beautiful
This was one of the best podcasts, or frankly any medium, that discussed immigration that I've watched or listened to in my recent memory.
It should be required watching for all, both sides of the conversation.
Thanks John, and thanks Sadiq.
Intelligent conversation with actual information!
How dare you sir!!!
I’m so proud that Brits keep voting sadiq in, he’s such a great guy and a genuine in honest politician. Despite the racism all around it’s a beacon of light
He's a clown that's turned our capital in to a knife crome hell hole.
couldn’t agree more, Londoner since 92
I love that Jon Stewarts podcasts are slowly turning into a place where economists, of different opinions and schools of thought, reply to each other in an ongoing discussion. I magine that many other of those discussions, even though still public, take place in forums, that are more within the economists own bubble.
A good economist, almost by definition, is one that does NOT exist within a bubble but is always open to alternative views of an issue - as long as those views are based on a rational explanation and not devoid of empirical evidence.
@@EconomistGI I guess the use of the word bubble was a bad choice then. What I meant was that, discussions as nerdy and in depth as this, might be reaching a different audience than they usually would. Because Jon Stewart attracts a wider audience. Like the audience of this podcast might have an interest in discussions like this, but might not seek them out themselves or come across them naturally otherwise. So I just meant, that this might be reaching other people than it usually would, while still being fairly in depth and not superficial. Jon is of course no economist, so it is perhaps not as in depths as if there were only economists talking to each other, but that helps for people who aren't already cued in on the ongoing discourse, by asking the "stupid" questions. Oh, and that I like that the discussion is ongoing because different economists keep coming on the podcast in response to each other.
I loved that conversation with Stephanie Kelton. It reminds me of the conversation a few years ago about Modern Monetary Policy. It really highlights how public spending can get conflated with personal finance and the issues that causes for policy making.
Stephanie Kelton, was very insightful with her assessment regarding the Fed, treasury bills, notes and bonds, banking system. Her book The Deficit Myth seems interesting to read. Would like to read it.
Be warned once you start seeing money and taxes through an MMT lens, you will be enormously frustrated by 95% of the economic discourse you hear from then on. Increased yelling at the telly may occur.
Every MP should be forced to read her "Deficit Myth"
@@marmotsongsthe MMTers think they have such amazing new insight, like who before this knew that we could tax OR borrow OR inflate away the value of the currency or some combination of the three?
@@destinal_in_reality No, that's not one of the insights. In fact, you are confusing the descriptive aspects of MMT which people such as Greenspan and Buffet recognize (when under oath) with prescriptive actions MMTers are putting forward based on the description.
@@marmotsongs it is what Stephanie Kelton is pointing out in this video, what if we didn't borrow the money to pay for government spending above the level of taxation, and just printed it instead? Congress doesn't have the power to just spend money into existence, they spend what is in their account at the fed that is funded by taxation and by borrowing. But if they could just spend money into existence, that's what is referred to as money printing and is inflationary, if not immediately, in the long term.
Jon! We love you, bud. Thank you for your work with veterans.❤️🤍💙
Great conversation. Two very smart people who understand world politics well.
8:55 Here's "the part we don't ever really discuss":
"Undocumented immigrants are paying billions of dollars each year in taxes. In spite of their undocumented status, these immigrants-and their family members-are adding value to the U.S. economy, not only as taxpayers, but as workers, consumers, and entrepreneurs as well. A new study shows that undocumented immigrants paid nearly $100 billion in federal, state and local tax revenue in 2022, while many are shut out of the programs their taxes fund.
The findings run counter to anti-immigrant rhetoric that undocumented immigrants are 'destroying' social programs. In 40 states, undocumented immigrants paid higher tax rates than the top 1% of the income scale in those states, according to a study released Tuesday [Sept.] from the Institute on Taxation and Economic Policy."
that's completely false. if they are undocumented they can't even pay taxes even if they wanted. because they are, undocumented. you can't even have a social security number. they aren't even allowed to work. they have no permit. that rhetoric is false.
Precisely! Immigrants give more than they take, and as the second half of the show demonstrated, the government is paying interest on/subsidizing the holdings of the financial sector and our wealthiest individuals.
It's so damn backwards.
If migrants pay taxes, or in general, if the number of tax paying citizens increase, and therefore the tax revenue increases, but if infrastructure and services no longer support the needs of the tax payer, then either the government needs to increase expenditure on these items or citizens should be getting a tax break, for services that are no longer being supplied.
Obvs, Infrastructure takes a lot longer to be delivered and bear fruit, but the principle stands IMO.
@@PianoDentist migrants don't pay taxes. they can't even get a work permit. they can't have a social security number. they pay zero taxes. you are paying for them.
But that same year undocumented immigrants cost the United States over 150 billion dollars.. so they are still putting us 50 billion dollars in the hole
I love that it has come true. I made a comment and asked for Stephanie Kelton to respond ❤. I want , mmt, and Stephanie ,to give us their economics and try it out!!!!!
so awesome to see Stephanie Kelton back
As a Brit, I am very impressed at Jon Stewart’s knowledge of the UK political scene.
The "pension thing" in the UK - a winter fuel allowance of £200-300 was given to EVERY pensioner. Regardless of income. 25% of pensioners in UK are millionaires, they got the WFA as did many well off who liked the extra payment to add to their spending for their second cruise of the year. Labour have altered the universal payment to a means tested one, meaning the poorest STILL GET IT. But to hear the tory outrage, you would believe labour had scrapped the whole pension scheme. RW press are claiming millions of pensioners will freeze to death. For £200? Nobody is going to die for £200. It makes far more sense to give it to the needy, not the greedy.
Absolutely spot on! This needs shouting from every roof top. My dad is 77, a widower, has his state pension and a work pension. He worked in a manual labour job for 45 years for the local council. His wages were crap but he always knew he would get a good pension. Somehow, he also has some good savings/investments. He also lives in social housing. He doesn't qualify for any income assistance and therefore will no longer get the WFA. HE DOES NOT NEED IT! It should be means tested, and those who need help most should be given all the help we can give.
@@davidadams3408 As Sadiq would say, spot-on, to you and Carolyn. I would say, maybe the 11K cut-off level is too low and it should be doubled. Means-testing is not cheap to instigate though, I'm led to believe.
@MrKeefy1967 of course and there is certainly room for a proper discussion about where the cut-off should be, but wherever it is there will always be some that fall just outside and will feel like they're missing out or have been harshly penalised
@@davidadams3408 We're in a similar position. Also in social housing, not on housing benefit or anything and a cruise is our idea of purgatory. We didn't need it either.
Also needs saying the pension was raised by far more than £300 last year, so they've got a slightly smaller raise overall, they're not slapping food out of old people's hands and laughing, as the right wingers would have people believe.
Jon - you’re the MAN.
Stephanie Kelton blew my mind with this dept discussion. What would actually happen if we just did not issue certificates or treasury bonds to offset any deficit.
My guess is hyperinflation. If increasing the money supply were the only instrument, then its a simple case of supply and demand.
At some point governments would be forced to increase taxes and adopt deflationary economic policies simply to keep their currencies from collapsing.
Tell me about it. As I am listening to this woman, my mind is being blown. woah
@@catherinewilliams9680 Really, read her book. It is like an epiphany when you “get it”. I think just about everyone must feel that way, like you’ve been looking at things through a reversing lens and now you’re not. I know she must have experienced the same thing because she started off trying to find the obvious flaw in MMT but ended up realizing that it was actually the correct description of money and taxes.
@@marmotsongs what’s the title of her book that you recommend? I’ll check it out.
@@Grizabeebles Why would slowing down the production of increased money supply cause hyperinflation? In her analogy, the FED is already injecting 2 trillion of cash into the market. Adding interests on top of that would just be injecting even more. Stopping the interests would seem to inject less money into the economy.
Thanks for binging in Dr. Kelton to talk about macroeconomics. She explains it so simply even lay people like myself understand these basics and can now demand our politicians to manage the economy better. How can we get people like Dr. Kelton to run the economy?
@@carlosross4547 Bringing in Professor Warren to run CFSB was blocked by GOP Senators. Sadly Obama listened to Larry Sommers
Thank you for having Stephanie Kelton on your show. She describes monetary and fiscal policies in a way that non-economists can understand.
Sigh. School was hard today.
I did not understand everything that was discussed.
That's ok. The first explanation of things is often the most difficult. Next time, I'll understand ... a little.
Please don't stop talking and sharing these valuable insights and interviews. They really are totally amazing. I don't think I'd run across this information anywhere else without Jon's assistance and guidance.
Man I love this podcast and it’s interesting to see Jon talking about things here and then referencing them during the daily show. This man is the goat fr
Thank you for having on Professor Kelton!
He keeps claiming it’s young people being fooled by their echo chamber. This is absolutely a universal problem. However, it’s not young people that I experience being the most dogmatic toward their echo chamber. It’s our eldest generations.
I didn't hear it as a competition on who is most scamable. I see it as they said it's a problem for everyone to deal with and that Meta, X and other SoMe etc isn't taking their share of the responsibility. We, who knows all this should help educate people around us no matter their age.
It's both. A lot of young people are "radicalized" by tiktok and UA-cam. Once someone is identified as mildly right wing by these or other networks, they can very quickly be funneled into a stream of misinformation and conspiracies.
It's everyone 🤷
I concur. We are all in our bubble silo away from seeing the diversity of what is going on in people’s every day lives even locally especially in metropolitan a cities but even in rural communities. The internet is a great tool for extending the scope of our experiences, understanding, and knowledge. But we have to news stories with some skepticism and confirm facts from multiple sources. Gossip, conspiracies, and outright unsubstantiated lies blended either propaganda to manipulate us and propagated by social media algorithms is something we need to be aware of. Must people are busy surviving and keeping themselves and if they are lucky their families alive and fed with roof overhead to shelter which allows them to sleep nightly. Critical Thinking is always a priority.
All he said is kids are being raised on echo chamber algorithms now?
Sadiq Khan will be in the top 100 most hated people online, he knows it’s not kids at the moment but fearful it’s just going to get worse.
Another great podcast. Jon, you went and got the economic answer. Bravo!!
Another excellent show Jon, please keep it up. We need more people like you.
Really interesting! Thank you! Sadiq Kahn is such a reasonable and thoughtful guy, I’m pleased London re-elected him and I’m pleased he stood given the abuse daily threats to his life. He has more security than the Prime Minister and is incredibly brave in the face of it all. He didn’t mention any of that in relation to social media but it’s having a huge impact on his own life.
As Jon basically stated, a 6-week election cycle would (hopefully) force politicians to actually do their jobs.
Couldn’t agree more. The American election system is exhausting me, & I live in Oz. We have a State election 25/10, basically haven’t seen to much campaigning 🇦🇺
We don't really have a 6 week election cycle though, politicians are constantly campaigning for 4+ years before the election. What's different is a party does its 'primary' straight after losing an election and strict spending limits. That means the 4 years of campaigning is mostly the leaders arguing over policy / values and not trying to raise funds
It would also shrink the amount of time swing state voters would have to deal with incessant ads.
Most of the democracies in the world have both campaign limits and time limits.
Some have spending limits, some countries limit donations to under $3,000 per person or company. Imagine how much LESS influence the ultra-wealthy would have if they're NOT allowed to create PACs nor donate huge sums.
Oligarchy is defined by the political influence exerted by the wealthy. The US has oligarchs who have become ludicrously influential.
It's not 6 weeks, but technically speaking, our elections last only ~3 months. Our parties hold conventions in mid-July and determine who they're going to put forward as a candidate, they then campaign for those 3 months until November. This is the exact reason the Democrats were able to reverse course with Biden and front Harris at the last second. Nothing had been decided yet.
The issue, of course, is our primary system incentivizes up and comers to be angling and campaigning for that nomination and "not campaigning" and fund-raising and all of that for 1-4 years depending on how you reckon it prior to all of that.
Make social media a public service like the telephone or internet. REGULATE it or things will only get worse.
Social Media does not need regulation.
We do need a utility style run social media platform that would ensure free speech for everyone.
@@WesTXVibes " ensure free speech for everyone." Yeah, that's called regulation.
The problem with making social media a public servic, is which countries public service are you going to go by, as there are a lot of different ideas as to what public service is, depending on the country you are in.
EG in the US you have free speech, while in most European countries there is protected speech, who knows what they have in Russia or China.
@@markgigiel2722
You are not even thinking. Social media is not a singular entity. They are just big websites with a lot of users. When the government start regulating these websites, that's censorship.
It is so nice to listen to people that want to listen to the other
I love Jon Stewart. I love sane, and reasonable, and hopeful conversations about the future.
I’m in the UK. The “dark tunnel” has been very long. Finding out that it’s going to continue, for the foreseeable, is no surprise or revelation. However, a change is as good as a rest, thank God for the British sense of humour.
Jon is quite funny to be fair?🤷
my mother was English and at one low point in my life, she said, as long as you have your sense of humor intact, you can make it through anything and it’s true, lol. it will be over soon and Kamala is favored to win by Lichtman. he has predicted presidential elections since 2004. many republicans are joining us too. it’s looking really good. 😈👊👊👋😄🐁🐀🐷🐈⬛🐈⬛🐶🐶🐶💙💙💙🗳️🗳️🗳️🦋🦋🦋🦋👋
Kahn left out the part where the Home Secretary called the peaceful protest a hate march and urged the far right gangs to riot.
@@ScarySoxAbout as funny as cancer. Glad to see a Jew in media, quite frankly the lack of representation borders on anti Semitism.
This was a great show man! So freakin interesting! Thank you for what you do!
Great conversation guys! Thank you! Jon as always GOAT
Jeezus Jon, Professor Kelton is too f'ing clear about the past 50 years of neoliberal/Laissez-faire/trickle-down economic policy. Get her in the Harrison/Walz econ policy room ASAP!!!
The Harrison Walz econ policy room would sooner lock her up than anything else for telling the truth.
You sound down a rabbit hole to me. We're supposed to get on board with you?
@@henrygustav7948nah you can't lock people for telling the truth. I mean Trump is a felon on 34 accounts and even he is not locked up
@Tom the trickle down economics aka "Reaganomics" is conservative policy, not neoliberal
@@ronny-lb1cr agreed mostly but "neoliberal" is a poor term in general and often misunderstood, hence use of other names: Libertarian = unfettered, no regulation , no gov interference in the free-market. Or "liberal" pursuit or laissez-faire economics which is a "neo" conservative concept central to Reaganomics. Thus, it embraces neoliberal tenets at its core and is an extreme form of neo-conservativism for the market explicitly. Monopoly/oligopoly and "trickle-down" is fine with either neoliberal or neoconservative...which Reagan had no prob with either. "Liberalism" wants well-regulated commons (no monopolies) and pay taxes for gov programs that assist citizens i.e., affordable education, healthcare, housing, and food. Maybe better terms might be Progressives vs. "Regressives"? But even then it wouldn't capture a progressive libertarian who wants no civil restrictions like liberals but also no free-market constraints even when monopolistic like conservatives. So, cognitive dissonance abound in terminology. I've heard the argument that Libertarianism (Barry Goldwater, Gordon Gecko, Elon Musk) is so contradictory and unrealistic, it's analogous to a 16 year old male's wet-dream of sex, drugs, and rock-'n'-roll as a lifestyle goal. Which would be nice if not for natural and logical consequences. That is, if you have the money to cover all the contingencies and liabilities in life...living the Gene Simmons' life-style sounds fun honestly. But for the vast majority of us, not realistic. Especially for me, given my lack of musical talent and pure luck to be "discovered" by the industry. Anyway way-too-long divergence...🍻
I learned way more and had so much of a deeper insight into the foundation of economics from listening to Stephanie for 13 minutes than Jason's entire contribution. That line of "You can't run out of money, you can only run out of things to buy" hit me as something so obvious in hindsight.
I appreciate he walked the walk of trying to be an educator and provide context at every turn to a given question/situation. It can be a bit tedious at times, particularly if you are already informed on the issue, but I think it's crucial to make sure everyone is talking about the same series of events in political discussions.
Thank you Jon Stewart for rational and non tribal thinking you display. Tou are foing a great service to the society and the world.
Mayor Khan's story of how his opponents used an AI fake of his voice is just the start. Especially for public figures, it's so easy to make an AI clone of someone's voice these days.
Why couldn't we have just used that tech for Happy Birthday messages or memes for our friends? Why did someone have to ruin it and use it for malice?
That’s why we can’t have nice things. Same with nuclear. The dude that split the atom never thought his discovery would be used to flatten two Japanese cities. It’s how we are self limiting as a species. We self purge.
Miss. Stephanie Kelton knows her shit. Tell it like it is ! This show beats any news channel I can think of. Thank you for your voice.
Well done all. Great discussion. Gives me hope that all is not lost in the USA.
Each week I learned so much I enjoy your podcast. It’s on my schedule.
Really enjoy this conversation!
One of the better shows
Great show! Always informative, and because of Jon it's always entertaining.
💙 VOTE 100% BLUE, Y'ALL! 💙
Thanks to Jon Stewart once more for a conversation worth listening to. L' Shana Tova !
Excellent programme.
Happy to see Kelton back on!
Such a transcendent and common sense conversation on progressive politics....listen when you have some spare time.
Yes, Stephanie!!!
Well Sadiq Khan was a breath of fresh air. He has put so much thought into his views and his promoting America as the leader of the free world and the need for American leadership around the globe made me emotional.
Why can't the FDA sue on our behalf for consumer safety being dismissed on these platforms? We can prove stochastic terror is killing us.
Why? Congress.
Whose fault is that? Voters
That’s the SEC job - which was defunded decades ago by the Republican Party.
@@Gabriel_H77
"Why? Congress.
Whose fault is that? Voters "
When voters get to pick between a red tie douchebag or blue tie douchebag is it their fault??
I'm in the UK it's the same but the red and blue reversed but neither "party" represent the voters!
@mattharker9212 So if a product is killing us, there is no legal path for liability for those deaths? That's all a platform is. A product, one that's killing people.
@mattharker9212 The internet is just a product. If a product is causing irreparable harm the FDA is obligated to protect consumers.
I absolutely love these Economic conversations you have! I hope we can have an extended Econ 101 / Econ for dummies some time. I would love to understand more about this. It sounds like the Economy is really the 4th branch of government but we don’t resource it or pay attention to it like it is.
Just two guys going “exactlyyyyyy” at each other and I love it
As a genx, Jon Stewart is the the # 1 political documentarian of my generation. I'm glad he is still at it with a purpose.
Great, honest conversation.
Spot on, Jon.
On the Election Issue. Sunak's annoucement was wholly unexpected. From that moment the election began, from start to finish with a new government in office and drafting legislation in 42 days,
Jon was meant for this. Jon this is my favorite podcast.
All explained brilliantly.
I love this quote that I use everyday I see something that's designed to insight anger and fear and makes me want to fight back online, "Contrary to popular narrative, humanity is not one massive debate club steeped in academic prowess."
Who said it? I tried looking it up but nothing but love the quote
I am all in on a 6 week campaign season. Let them govern not just work to keep the job. What a mess are system is in
I'm proud that Sadiq Khan is my mayor. There's a reason he keeps getting elected. He's a lifelong Londoner who really understands this city and his people. Plus he name checked Count Binface in his acceptance speech and credited him for beating a far right party in the last London mayoral election.
He's a disgusting clown.
John is pure gold… when he performs, he give jobs to a lot of people 🤷♂️
S'il vous plait Yankee Doodlers, please do not inflict another DJT shitstorm on Canada and the rest of the world.
We hope to do better this time.
For your support, merci!
The shitstorm is already here under Biden/Harris or have you not noticed the genocide in Gaza? The nuclear war that is close to erupting in Russia Ukraine conflict? DJT is unfortunately the lesser of two evils.
We are trying! 😂
The few benefits of social media is listening to conversations like this. And cat videos. Thank you both!
Stephanie’s book is very good, eye opening….
Stephanie Kelton just exploded my brain!
love this show
Sadiq Khan is such an eloquent decent man. He is a prize for the UK. Incredible man.
thank you
Jon, Canada's Bank of Canada(our federal reserve) used to loan money federal & provincial governments until Pierre Trudeau turned off the taps in 1972. Until then we were essentially debt free. Now we borrow from private banks and have significant (unnecessary) deficits & debt
Love the topics you guys cover. I have a suggestion that you guys have an episode about biotechnology. There have been some really profound advancements in the field recently, referred to as synthetic biology. I bring this up because these advancements have the potential to be similarly impactful as AI on society, but it hardly ever gets coverage in the media. Getting this out in the public discourse is going to be really important because this technology has tremendous ethical and societal considerations. Navigating the kinds of regulations, funding and responsible usage of this technology is going to be complex and getting people informed is the first and most important step. Keep up the good work!
I'm in Australia and our elections are 5 to 6 weeks and we all vote on a Saturday unless we do mail in or absentee voting. All parties have to give their proposals to be accessed as feasible. Plus our government departments and the funding continues without being used to shut the government down.
...also in Australia voting is compulsory for everybody over 18, unless I'm misinformed. It's considered a civic duty.
@@curmudgeon1933 yes you are right, we vote by mail, absentee, early voting or in person and no one knows who we vote for.
... but Reagan said it would trickle down on me... I've been waiting for the rain since the 1980s... just gotten pissed on so far.
It has trickled down though. Locally owned general stores are now corporate owned dollar general locations. Small grocery chains and large department stores are now Walmarts. Jobs are now mostly available in one flavor, big corporate. Because that's who gets all the cheap loans from banks who borrow at near zero interest to then create money out of thin air by fractional reserve lending.
The variety of textures in the kislux pack is impressive. From smooth leather to textured suede, there's something for everyone.
Love this guy Jon, saw his meat sales joke in the uk years (decades?) ago had wondered where he went. Made it big in the NY city great. 💚 - Democracy is the least worst form of Government.
Keir Starmer has effected my life in a bad way, I'm a disabled pensioner who has lost out in a disgraceful way, I'm in my middle 70s and now I am going to suffer once again, I have suffered under the Conservatives especially because I'm disabled, I managed to live through the Pandemic that was badly mismanaged by Boris Johson's Government, and l started paying taxes on my tiny private pension under Rishi Sunak. I have always voted for the Labour Party, the Party that has always been known as the Workers Party, I am gutted that their first action is not to tax the under taxed wealthiest people in our Country, who can easily survive paying a bit more in taxation, but to hit pensioners ability to keep their homes warm while heat cost are soaring. Kier Starmer and his Chancellor are disgraceful.
The winter heating allowance is a few hundred quid a year. At the same time the government have committed to increase the state pension by a thousand or more a year. The winter fuel allowance has not been abolished for the poorest pensioners, you only lose it if your income is above £11K. I agree with you that that level should be raised, maybe doubled. But I can't agree that all pensioners, regardless of their income should get it - many pensioners don't need it. I also don't agree that its impact is that damaging - it's not that much money compared to the rise in state pensions - I think this is being overplayed as an attack on pensioners by Tory supporters who have little else to talk about - just like the free gifts and hospitality 'scandal'. I do sympathise if you're one of those pensioners who do genuinely need it and are about to lose it - this should have been better managed by the government.
That election cycle thing you guys talked about is a big thing that doesn't get covered enough!
Jon Stewart, you need to have Mayor Khan on The Daily Show!
There's an awful lot I wish you'd raised with Mr. Khan. 1. "Short-term pain" sounds a lot like Reagan. And Thatcher. 2. I'd also love to hear what he has to say about the purges carried out by Starmer? Anyone with a progressive record was "un-Laboured" before the election (almost all people of immigrant background). 3. What about Jeremy Corbyn? He was basically destroyed by Labour for his pro-Palestinian advocacy. Sounds a lot like the Democratic party in the US.
The Democratic party is Centre-Right by UK standards, and are more akin to the the traditional Tory party.
What Khan fails to note is that the US centre ground is skewed heavily to the right, mostly due to the legacy of McCarthyism.
In recent years, the Tories have shifted heavily right-wing, and Labour have long been dabbling as a Centre-Right party.
Corbyn was insanely unpopular with the British public; he's on record supporting basically every anti-UK group of the last 40 years and called Hamas his friends and said Russia didn't do the Skipral posionings which killed 3 British citizens on UK soil, using a nerve agent only Russia uses and targeting a Russian defector to the UK
Hamas is a banned terror group in the UK because of how they've acted
@@Gabriel_H77same with Australia & NZ. America is very conservative in comparison.
@@Gabriel_H77 Yh, when you say the Tories have shifted right though that's a reflection of their members not their voter base, which is why they got hammered. On almost every issue, except taxation, a majority of Tory voters would vote Dem in the US. The only reason they didn't lose in 2019 is because the Labour party really went off the deep-end
100% While I love Jon let’s be honest he is slightly to the left of Kamala.
Jon isn’t gunna raise the Corbyn smear by Starmer because it would hit to close to home with what Dems did to Bernie.
Also Sadiq would never criticize Starmer.
The thing liberals have done is put brown faces in high places while policy stays the same.
Oh so nice you had Sadik on! Good on ya!
Aside from another great show, that noogie and wedgie comment at the beginning was spot on and hilarious!
Thanks, Jon I cancelled my BBC licence to save money - as UA-cam is free. Bad move So thanks Jon, I really appreciate your help.
On the list of people I'd love to sit down and have a couple beers with, John is number one.
6 weeks 35 million limit and rules for the press about equal coverage. They have to give the same amount of media time to both candidates by law. When the party wins, they start governing by the end of the week.
Mayor Khan @ 4:30 was using a classic sales pitch line “under promotion and over deliver”
Weirdly comforted that other countries are crazy too. While I "knew" that, it's easy to get lost in our own struggles.
I love the way John and Sadiq talk about democracy as though it still exists. A few home truths about UK democracy:
1) the public don't choose the candidates at elections - people who have no connection with constituencies are forced on the local communities by party leaderships - especially in "safe" seats. This is true of the Conservatives (my MP is Rishi Sunak who had no idea where Yorkshire is until he got here) and even more from Kier Starmer's Labour in the last election.
2) No government has had a majority in terns of the voting public within my lifetime. Indeed many governments have had around a third of the vote and a large majority.
3) The last general election in July gave Labour a massive landslide win but in reality Labour got fewer votes than Jeremy Corbyn in 2019 (famously described by Starmer as the biggest Labour loss in history).
4) Taking the electorate as a whole Labour got 20% of the vote of those eligible to vote (and only about a third of those who voted).
The UK does not have a democracy - 80% of the electorate did not vote for Labour (by the way I did, to try to unseat Sunak).
The USA is no better ... a massive electorate gets to choose from two candidates every four years. If Trump and Biden were genuinely the best the USA had to offer in 2020 it is really worrying! On top of that politics in the USA has been bought by the rich - it doesn't matter who is voted for the largely same policies are in place.
Is it surprising there is mass dissatisfaction with politics on both sides of the pond?
I love Jon Stewart - funny, smart and informed. As a Brit he's bang on about Brexit (oh the irony).
Jon, I love you. Respect for all your work, veganism, being a coke guy (chapelle), and... I looked through the videos here, the playlist, shorts, I don't know the title of the original but there was one podcast a few years back now, maybe not this title, where a refugee openly shared his life with you. The msn had been through more than most should endure, then he went back to the area he was born to work to secure his family and everything you asked built his forum for discussion for the listener. You shared humility and gratefulness in his existence. I was hooked outside the DS and everything but I'll have to keep looking. It is a powerful forum. Not an interview or like some folks call... yeah it is a podcast for trend but you do naturally make forums.
That aside... I did coke and it was good coke, once. Some guys I was getting to move out of an area were killer types. One had killed a guy with a brick for $40 owed and I dont know the other guy. Never done it before and it was great. For me time slowed, stuff made sense... then at this club I was on the dance floor and everybody else there started breaking out into some synchronized dance. I followed two beats then left politely. The club and folks moving about me made sense like I hadn't known in my life. There was time to breathe and I don't know how to share that view to anyone who might not have experienced it for the benefit vs the dependancy. But I'm not rich so I don't do coke.
That's cognitive dissonance mostly. An awareness that folks have in themselves outside of their own conditioning and habit/reward system that something either might help them or is long term hurting them. And really here the interview is solid. I learned a lot. But I feel, at this point you are waaaaaay too generous in saying that any 't' supporter has some cognitive dissonance about what we face with duverger's law still in place and clear DARVO rhetoric from 't' with the end goal always being what's the budget, timeline and terms of success?
Cognitive dissonance is the blessing of a saint to parasites. And all life is more important than anything but it's a disservice to say that kindness with such grasp of satire. Habit/reward loop conditioning issues to face with budget timeline and terms of success at best. (Dictated but not read, cheers)
Important note... yeah those fools moved out. Dogs who didn't know they're dogs can sometimes be dependable cause they'll respond the way they respond.
Love this show! It really is sad how much the banks and big corps make and how little of that ends up in the average person’s pocket or small business.
Both these guys seem like totally reasonable people.
The Mayor of London is doing better than the Mayor of New York...
I really love your taste and style always so chic. My faves would be the kislux leather backpack and the Swarovski pave diamond ring so gorg. Thank you for your recommendations.