Creating safe assets, stripping banks of power to create money
This week, President Obama laid out the case for the Trans Pacific Partnership (TPP) agreement, but members of his own party were providing the pushback. Erin weighs in. David Beckworth, assistant professor of economics at Western Kentucky University, gives his take on a recent paper by the IMF that argues there’s not enough public debt is safe asset economics. Bianca gives a daily news update on other major business headlines including US oil production, Tesco, and Yahoo! Japan. Victor Matheson, professor of economics at College of the Holy Cross, tells how the increase in NHL revenue will affect the currency salary cap. And in The Big Deal, Erin and Edward discuss Iceland’s radical money plans.
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