Thumbnails Jun 24
by
Tony Medley
Unfrosted (9/10):
93 minutes. Netflix. PG-13.
Jerry Seinfeld’s first foray into directing (he has a co-writing credit
with Spike Feresten and Andy Robin) at age 70 is a booming success. This
is a sparkling satire based on Kellogg’s and Post’s race to develop a
new cereal, that became Pop-Tarts. It’s got a topflight cast. In
addition to Seinfeld, there are Melissa McCarthy who is as funny as
she’s ever been, and Hugh Grant, who sparkles like he always does, and
Amy Schumer, along with a plethora of cameos by people like Peter
Dinklage, John Hamm, Jim Gaffigan, the list goes on. It is exactly the
kind of light-hearted, funny film we need in today’s world to give us an
hour and half of fun.
A
Man in Full (9/10):
6 45-minute episodes.
Netflix. TV-MA. This is a multi-faceted tale, based on Tom Wolfe’s 1999
novel about a real estate mogul, Charlie Croker (Jeff Daniels), in big
trouble. He is attacked by his banker, Harry Zale (Bill Camp) who claims
he owes the bank hundreds of millions of dollars. Zale is aided by
Charlie’s former employee Ramone Peepgrass (Tim Pelphrey) and eventually
joined by Charlie’s former wife, Martha (Diane Lane).
Thrown
in is a B story involving Roger White (Ami Ameen), the black husband of
Charlie’s black secretary Henrietta (Jerrika), who is thrown in jail for
assaulting a traffic cop, even though the cop was assaulting him. He is
defended by Charlie’s attorney, Conrad Hensley (Jon Michael Hill), even
though Conrad is a corporate lawyer. They get a judge, Judge Taylor
(Anthony Heald), who appears to be as biased as the day is long. I
mention these characters because they all give award-quality
performances throughout this involving tale.
Finding the Money (8/10):
95 Minutes. Prime Video. NR.
As the fly said when it walked across the mirror, I never looked at it
like that before. This is a paean to Modern Monetary Theory (MMT). Its
John the Baptist figure is Stephanie Kelton, who is called “an American
heterodox economist, an advisor to Senator Bernie Sanders.”
In
ordinary language, heterodox means heretical. The argument here is that
everyone is looking at the deficit wrongly. What one draws from their
argument is that the larger the amount of what we call the “deficit,”
the better for us. Kelton and her many cohorts interviewed here proclaim
that the “deficit” should be called an asset. When we sell bonds to
China, she says, that’s good and the “debt” is really an asset.
They
say that all the deficit is, is that the government is putting more
money into the economy than it’s taking out. If the government puts $100
into the economy and taxes 90% of it out, that’s a deficit for the
government, but a surplus for the economy.
Produced and directed by Maren Poitras, there are lots of interesting
seemingly sacrilegious discussions about what money is and how it has
worked throughout the ages. L. Randall Wray, a professor of economics,
says that when money comes back to the issuer, it is destroyed. It’s
been that way for all time. When taxes were paid in the Middle Ages in
England, they were paid in tally sticks. When the tally sticks were
returned as payment of taxes, they were burned. He claims that when
money is repaid to the government, it is burned. I’m not sure if he is
speaking metaphorically.
One of
the best parts of the film is when Kelton interviews Jared Bernstein,
Chair of the Council of Economic Advisors under President Joe Biden.
Following is an unedited transcript of how he stammers and mutters after
Kelton asks him a simple question. This guy clearly seems to be in way
over his head:
“KeltonLW)hy
exactly are we borrowing in a currency that we print ourselves? I'm
waiting for someone to stand up and say, why don't we borrow our own
currency in the first place?
“Bernstein:
“Well…
“The…
“So
the… I mean…
“Again, some of this stuff gets…
“Some of the language that the…
“some of the language and concepts are just confusing. I mean the
government definitely prints money, and it definitely lends that money,
which is why the government definitely prints money and then it lends
that money by… by selling bonds.
Is
that what they do?
“They, they…
“They yeah, they, they. They sell bonds. Yeah, they sell bonds. Right?
Since they sell bonds and people buy the bonds and lend them the money.
Yeah. So…
“A
lot of time, a lot of times, at least to my year with with MMT, the the
language and the concepts can be of unnecessarily confusing. But there
is no question that the government prints money and then it uses that
money to…
“So…
so …the.
“Yeah, they… they print money and they use that money to…
“They sell bonds…they borrow.
“Yeah… I… I guess I'm just… I don't… I can't really talk...I don't… I
don't get it. I don't know what they're talking about like, because it's
like…
“The
government clearly prints money and does it all the time, and it clearly
borrows. “Otherwise we wouldn't be having this this conversation. So I
don't think there's anything confusing…There..”.
Just
watching this guy in powerful position, sounding like Kamala Harris,
squirm and mumble is worth the price of admission.
They
gave a glimpse of their true colors at the end when the thrust of their
goal is advocating for taxing the rich to pay their “fair share” and
income distribution. However, the data for 2021 shows that the
top 1 percent of earners,
defined as those with incomes over $682,577, paid nearly 46 percent of
all income taxes. The top 25% paid 89.2% of all taxes. The bottom 50%
paid under 2%. I’m not sure how they define “fair share.”
Even
so, I recommend this because their discussions and arguments are
interesting and thought-provoking, and their slant on the use of money
enlightening if what they say is accurate. Or is it nonsense?
Recommended Reading:
“The
Fury” by Alex Michaelides, a diverting mystery.
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