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April 20, 2015
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The Bubble and Beyond

The Bubble and Beyond

By Michael Hudson

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Classics for Pleasure

By Michael Dirda

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Debt Is a Weapon for Taking Your Things Away

Posted on Jan 20, 2014

BoomBust/YouTube

The treasured University of Missouri, Kansas City economics professor Michael Hudson explains to RT how debt is currently being used “as a means of foreclosing on property and transferring” it “from the debtor to the creditor.”

“That’s how almost all of the wealthy oligarchies in every country of the world in history got rich,” he says. “By making a loan and then foreclosing on the assets and then impoverishing the other people. And that’s the business plan we have today.”

Hudson begins at the 5-minute mark.

BoomBust:

—Posted by Alexander Reed Kelly.

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