Rana Foroohar, Financial Times columnist and author (Don't Be Evil: How Big Tech Betrayed Its Founding Principles), and Mark Blyth, political economist and author (Angrynomics), join Paul Jay for a wide-ranging conversation about the deepening depression, inequality, and China. On theAnalysis.news podcast.

Transcript

TRANSCRIPT HAS BEEN MODIFIED FOR A MORE COHESIVE READ

Paul JayHi, I'm Paul Jay and welcome to theAnalysis.news podcast. Don't forget; we need you toclick the donate button if you haven't already because, without your support, we can't do this.

So after the shit show debate and the ongoing warnings of a second or even third wave ofthe pandemic, I'm left with some questions.

First of all, does the shit show debate reflect an even more profound problem with the U. S.economy and political structures? Two, the financial and tech elites, how are theyresponding to the campaign, the debate? Have they bailed on the maniac or just doublingdown on the Senate? How deep and how long will the recession, depression go? It looks likethere could be more lockdowns. Four, if there is another full lockdown, which many scientistsare saying will be necessary to contain the second, third wave, what, if any, are the limits ofhow much money the Fed can pump into the economy? What are the economic limits? Whatare the political limits? Six, how serious is the split over the new Fed money? Does WallStreet want a big new stimulus package? Are there really serious concerns about the U.S.dollar? And finally, seven, if we have time to get to it, is Wall Street getting the danger of theclimate crisis? Will they do anything about it? Will they accept the government intervening ina serious way with regulations and massive investments in green infrastructure, includingphasing out fossil fuel, not just relying on carbon capture, which is mostly what the Bidenplan is about.

Now, joining me to break this down, our two guests that are not only brilliant analysts of allthis, but they also have unique access to the minds of the lords of Wall Street.

First of all, Rana Foroohar, who is a business columnist and an associate editor at theFinancial Times. She's also CNN's global economic analyst. And her books include 'Makersand Takers: The Rise of Finance in the Fall of American Business' and 'Don't Be Evil: HowBig Tech Betrayed Its Founding Principles,' and returning Mark Blyth is a political economistat Brown University. He researches the causes of stability and change in the economy. Andas he told me, why people continue to believe stupid economic ideas despite buckets ofevidence to the contrary.

So first, Rana, let me ask you. So first of all, your reaction to the debate and the biggerquestion, what does this tell us about the disarray in American politics, and why is there? Isthere something going on in the U.S. economy and basic political structures that kind of giverise to this craziness?

Rana FarooharWell, thank you, Paul, for having me, and first, let me tune my earpiece so I can hear theLords of Finance speaking to me. I was stunned by the debate. I mean, on one level, at the

most surface level, the debate was just kind of this toxic mud-slinging wrestling match.You've likened it to Trump's debating style in general to pro wrestling. I think that's true. But Iguess I would take a step back and say, all right, how did we get to a place where, frankly,anybody watching would be as embarrassed as I was to be an American,