Paul Krugman: The Fed is not a rogue trader and historical norms for interest rates aren't relevant in a persistently depressed, deleveraging economy. But traders continue to lash out and claim, "It's all fake!"
The citizens' ballot initiative or referendum, created in the first Gilded Age to counter plutocratic governance, is overmatched in new Gilded Age.
Interviewer Terrence McNally hosts Free Forum on KPFK 90.7FM, Los Angeles and WBA I99.5FM, New York (streaming at kpfk.org and wbai.org). Visit terrencemcnally.net for podcasts of all interviews and more.