BTS 9/30/11: US & Eurozone Crises; Political Gridlock; Russian Politics

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Max Fraad Wolff joins us on our coming ‘double dip’ or as Nouriel Roubini warns, full blown depression. As European central bankers once again try to stabilize the volatile Eurozone with more of the same, Max Fraad Wolff says they are days late and Euros short. Other economists are less sanguine: Jeff Madrick reminds the arrogant German central bankers who want to punish the rest of Europe that American lent them a hand after WWII. Most economists agree that the Euro will fail without the sufficient fiscal rescue, and Martin Wolf writes in the FT that Britain is already in the worst depression since WWI. And in the US? As the Wall Street Occupation continues and the economic situation deteriorates we hear from Bank of America today that they are slapping on a $5 fee for use of debit cards and outrage is palpable. We’ll get Max Fraad Wolff’s take, don’t miss it.

Harold Meyerson joins us from Detroit, where he is visiting factories. We talk to Harold about what he is seeing in Detroit as well as his views on the political-economic situation. Harold’s piece in the Washington Post today discusses the Senate getting tough on China – threatening to impose tariffs if China doesn’t revalue its currency. But Harold also wrote a big think piece in the American Prospect that blames Washington Gridlock on the Constitution – something others have called the ‘dark side of the constitution’ – but suggests the only way out is becoming more like a parliamentary system. We’ll talk to Harold about the political economic situation we face because of our institutional and constitutional constraints, as well as the current activities.

Michael Urban, Politics Professor at UC Santa Cruz, joins us to talk about politics in Russia today – there is an election coming up in 2012, and it looks like Putin will be back in power officially as President in a sort of job swap that clearly doesn’t involve the electorate. Mike understands power and politics in Russia as well as anyone can, and we’ll get his take.