‘New Captains of Industry’ Hosts Economic Roundtable Focused on U.S. Budget and Trade Deficits

January 3, 2011

HOUSTON, Jan. 3, 2011 /PRNewswire/ — “New Captains of Industry” (www.blogtalkradio.com/newcaptainsofindustry/) today announced the availability of an audio economic roundtable hosted on December 30, 2010 by market commentator, institutional fund manager and Chairman of the National Eagles and Angels Association, George Jarkesy. During this fascinating roundtable, Jarkesy engaged economists L. Randall Wray, Professor of Economics at the University of Missouri, Kansas City and author of “Understanding Modern Money”; Mike Norman, Senior Economist at John Thomas Financial; and Warren Mosler, author of “The Seven Deadly Innocent Frauds of Economic Policy” and founder of what has been popularized as Modern Monetary Theory, in a thought-provoking discussion about the misinformation and “crisis behavior” promoting confusion, uncertainty and the perpetuation of fear about the U.S. economy. (Mosler was also recently featured on the show on December 28, 2010 during which he shared with Jarkesy paradigm shifting thoughts about the U.S. financial system.)

To directly access the economic roundtable, go to: http://www.blogtalkradio.com/newcaptainsofindustry/2010/12/30/economist-round-table-economics-101-for-politicians-and-policy-makers

During the economic roundtable, Jarkesy’s guests challenged prevailing U.S. economic views and policies relating to national debt, trade deficits and government spending (investing). They also put forth ideas for proactive policy shifts involving a payroll tax holiday, tax cuts for businesses, capital infusions to states, major government investment in infrastructure, and eight dollar per hour federal jobs program for anybody who wants to work.

Jarkesy noted, “Listening to this discussion has inspired me to want to personally investigate the thoughts and theories shared during the show; and, if confirmed true, determine why the American public, our policymakers and the media appear to be so misinformed. In my opinion, the issues put forth by the panel challenge existing U.S. economic doctrines which Americans have long considered as ‘truths’ and have been acting on them as such. From this insightful discussion, our listeners may discover that fear mongering is indeed shaping U.S. economic policy; and we could all be victims of a misinformation snowball dating back to when our country was on the gold standard.”

Any American who likes to contemplate, debate or discuss U.S. economics, finance or politics should not miss this important radio show. At worst it will make you think!

About L. Randall Wray

L. Randall Wray is a professor of economics and research director of the Center for Full Employment and Price Stability at the University of Missouri-Kansas City. His current research focuses on providing a critique of orthodox monetary policy, and the development of an alternative approach. He also publishes extensively in the areas of full employment policy and the monetary theory of production. With Levy Institute President Dimitri B. Papadimitriou, he is working to publish, or republish, the work of the late financial economist Hyman P. Minsky, and is using Minsky’s approach to analyze the current global financial crisis. Wray is the author of Money and Credit in Capitalist Economies, 1990, and Understanding Modern Money: The Key to Full Employment and Price Stability, 1998. He is also coeditor of, and a contributor to, Money, Financial Instability, and Stabilization Policy, 2006, and Keynes for the 21st Century: The Continuing Relevance of The General Theory, 2008. Other publications include: * Introduction (with D. B. Papadimitriou) to Minsky’s Stabilizing an Unstable Economy and John Maynard Keynes, reissued 2008; * “Lessons from the Subprime Meltdown,” Challenge, March-April 2008; * “Veblen’s Theory of Business Enterprise and Keynes’s Monetary Theory of Production,” Journal of Economic Issues, June 2007; * “Global Demographic Trends and Provisioning for the Future,” in D. B. Papadimitriou, ed., Government Spending on the Elderly, 2007; and * “International Aspects of Current Monetary Policy,” in P. Arestis, M. Baddeley, and J. McCombie, eds., The New Monetary Policy: Implications and Relevance, 2006. Wray taught for more than a decade at the University of Denver and has been a visiting professor at Bard College, the University of Bologna, and the University of Rome (La Sapienza). He received a B.A. from the University of the Pacific and an M.A. and a Ph.D. from Washington University, where he was a student of Minsky.

About Mike Norman

Mike Norman, recognized as the Economic Contrarian, currently serves as Chief Economist at John Thomas Financial and is an international economist and former trader whose career spans over thirty (30) years on Wall Street. In 2003, he signed with FOX Business network as an exclusive contributor and appears on a regular basis on FOX programming. Norman follows economics with a unique, contrarian style that examines arguments against widely followed themes. Insight comes from his rich background formerly as a trader, money manager, broker and market analyst. He has worked at Merrill Lynch, was a member of four U.S. futures exchanges (Chicago Mercantile Exchange, New York Mercantile Exchange, Commodity Exchange, and the New York Futures Exchange) and ran the derivatives trading desk for a major Swiss Bank. Norman has a BA in economics from the University of Pennsylvania and a Masters Degree from UCLA.

About Warren Mosler

Warren Mosler is currently the President of Valance Co, Inc., located in St. Croix in the U.S. Virgin Islands, where he resides. In 1982, Mosler was a founder of Illinois Income Investors that evolved into the III investment companies. Over the years, he pioneered numerous investment strategies that utilized U.S. Government securities, mortgage backed securities, LIBOR swaps and LIBOR caps, and financial futures markets in market neutral, 0 duration strategies. In 1986, he originated the ‘mortgage swap’ and in 1996 orchestrated the largest futures delivery to date (over $20 billion notional) in Japan. He also created a swap futures contract currently operational (in a muted form) by a major exchange. III was rated number one by MAR in risk adjusted returns for the previous 10 years in 1997 when he turned control over to his partners.

Mosler is also Chairman and majority shareholder of Consulier Engineering (CSLR), President and founder of Mosler Automotive (http://www.moslerauto.com), which manufactures the MT900 sports car in Riviera Beach, Florida; Co-Founder and Distinguished Research Associate of The Center for Full Employment And Price Stability at the University of Missouri in Kansas City; Senior Associate Fellow, Cambridge Center for Economic and Public Policy, Downing College, Cambridge, UK; and Associate Fellow, University of Newcastle, Australia.

About “New Captains of Industry”

“New Captains of Industry” is an online radio show hosted by George Jarkesy on http://www.blogtalkradio.com/newcaptainsofindustry . Jarkesy has a passion for building small businesses and promoting growth of the American economy. A successful money manager and a professional investor, respected financial and corporate advisor and a dynamic public speaker, Jarkesy has founded, invested in and helped to build companies engaged in a broad range of industry sectors. New Captains of Industry’s Interview guests are CEO’s and experts in commodities, economic trends and the stock market. Jarkesy is the Chairman of the National Eagles and Angels Association. Since June 2007, he has also served as the Managing Member of John Thomas Capital Management Group, LLC, which is the general partner for John Thomas Bridge and Opportunity Fund, L.P. and John Thomas International Fund, LP. John Thomas Capital Management Group, LLC employs creative approaches to hedge its portfolios against multiple risks. He is very active in private placement investment markets, and has originated and/or participated in many investments over the past 15 years, including both debt and equity in angel investments, private, pre-public and public companies.

CONTACT: Dodi Handy, Elite Financial Communications Group, 407-585-1080

SOURCE New Captains of Industry

Source: newswire

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