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Tag: Michael Hudson

Professor Michael Hudson Explains the Fake Economics of Donald Trump

Hudson, author of “J Is for Junk Economics,” talks about the now-discarded Trans-Pacific Partnership trade deal and the president’s first hundred hours.

Posted on Feb 23, 2017 WATCH & LISTEN


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Michael Hudson Names the Pathogens in Our Economic Thinking

In his new book, “J is for Junk Economics,” the renegade economist analyzes the language technocrats use to pass off our age’s prevailing economic theory as something other than a blueprint for state-sanctioned pillage.

Posted on Dec 14, 2016 WATCH & LISTEN



The Mafia State

The greed of the 1 percent and their dismantling of good governance have given rise to a criminal economy and criminal state embodied in the presidency of Donald J. Trump.

Posted on Dec 4, 2016 READ MORE


Trump Wants to Make the 1 Percent Even Richer—and Use Washington’s Deceptive Language to Do It

Political economist Michael Hudson explains how economic terms such as “capital gains” are deployed to mislead the public about who is benefiting from economic policy and where the wealth is going.

Posted on Nov 28, 2016 WATCH & LISTEN



Throw Wall Street Out of the Democratic Party

The results of the 2016 election show that mobilizing identity politics behind a bankster program will no longer work. To save their party, Democrats must get the Clintons and their backers, such as former Treasury secretary Robert Rubin (pictured), to leave.

Posted on Nov 16, 2016 READ MORE


Political Economist Michael Hudson on Why Trump Is the ‘Lesser Evil’

If Hillary Clinton is more capable of wielding U.S. military and financial dominance to endanger lives at home and abroad, does that make Trump the better choice in 2016? Hudson weighs in during an interview with Renegade Inc.

Posted on Nov 7, 2016 WATCH & LISTEN



Celebrating the 1 Percent: Is Inequality Really Good for the Economy?

In his new book, “The Great Escape: Health, Wealth, and the Origins of Inequality,” Scottish economist Angus Deaton practices public relations for the rich.

Posted on Sep 30, 2016 READ MORE


Is the Clinton Foundation the Greater Scandal Surrounding Hillary?

“Nobody has, I think, in American history, merged their public service as secretary of state or president with their private gains to the extent that Hillary has,” economist Michael Hudson told The Real News Network.

Posted on Jul 14, 2016 WATCH & LISTEN


Debt Deflation—the Economic Concept That Proves Market Optimists Wrong

Western economies are shrinking as people are compelled to spend more and more of their income on credit card, mortgage and college debt, leaving less and less for goods and services, says financial economist Michael Hudson.

Posted on Jun 30, 2016 WATCH & LISTEN



2008 All Over Again

Great Britain’s decision to leave the European Union presages perhaps another global financial meltdown. Banks will again demand massive bailouts. We will be forced to again swallow austerity measures, and there will be a continued decline in living standards.

Posted on Jun 24, 2016 READ MORE


Neoliberalism Will Soon Force Americans to Leave the United States

U.S. economic policy will eventually pressure U.S. citizens to emigrate just as it caused millions to leave Russia, the Baltic States and now Greece in search of a better life, economist Michael Hudson tells The Real News Network.

Posted on Jun 18, 2016 WATCH & LISTEN


The Panama Papers: Laundering Havens for War Budgets (Video)

In mid-April, economist Michael Hudson told The Real News Network that global oil and mining industries and the U.S. State Department created Panama and Liberia for the express purpose of tax evasion.

Posted on Apr 25, 2016 WATCH & LISTEN


‘Days of Revolt’: Wall Street Criminals and the Future of Our Economy (Video)

In the second part of an interview from teleSUR’s “Days of Revolt,” Truthdig contributor Chris Hedges continues his discussion of “junk economics” with professor Michael Hudson.

Posted on Apr 1, 2016 WATCH & LISTEN


‘Days of Revolt’: Chris Hedges, Michael Hudson Discuss How We Got to Junk Economics (Video)

The federal debt has exceeded $19 trillion. One reason for the record-high figure is a gigantic Ponzi scheme that defines the U.S. and global economies.

Posted on Mar 24, 2016 WATCH & LISTEN



The Citadel Is Breached: Congress Taps the Federal Reserve for Infrastructure Funding

In a landmark infrastructure bill passed in December, Congress finally tapped into the Federal Reserve for infrastructure funding. Some experts say legislators should go further and authorize funds to be issued directly.

Posted on Jan 18, 2016 READ MORE



Bubbles Always Burst: The Education of an Economist

To learn about the topics that interested me most as a young economist, I had to leave university and go to work for banks.

Posted on Sep 30, 2015 READ MORE



Grexit or Jubilee? How Greek Debt Can Be Annulled

The crushing Greek debt could be canceled the way it was made—by sleight of hand. But saving the Greek people and their economy is evidently not in the game plan of the Eurocrats.

Posted on Jul 16, 2015 READ MORE


VIDEO: Michael Hudson and Bill Black: A Greek Bailout Is Really a Bailout of Western Banks

The esteemed U.S. political economists say Western financial institutions are keen to bail out Greece because if they don’t, the country’s existing creditors—other Western financial institutions—will fail to recover money they previously lent to Greece.

Posted on Jul 1, 2015 WATCH & LISTEN



VIDEO: Ukraine Is in Crisis. Here’s Why the West Can’t Save It.

A video roundtable hosted by Truthdig Assistant Editor Alexander Reed Kelly explains why the IMF, Europe and Western corporations don’t have the country’s best interests at heart.

Posted on Jun 13, 2015 READ MORE


Greek Finance Minister Varoufakis Wants Austerity ... for the Rich

“The finance ministers of Europe are not all in favor of balancing the budget if it has to be balanced by taxing the rich,” says economist Michael Hudson (not pictured) of the ongoing confrontation over the Greek debt crisis.

Posted on Feb 25, 2015 WATCH & LISTEN



Ukraine Denouement: The IMF’s One-Two Punch (Audio)

After a tenuous ceasefire was brokered in Minsk last week, the fate of Ukraine is now shifting from the military battlefield back to the arena that counts most: international finance.

Posted on Feb 20, 2015 READ MORE


Has the IMF Annexed Ukraine?

Michael Hudson, an economist at the University of Missouri-Kansas City, says the terms attached to the loans made by the IMF to Ukraine are likely to turn its people into penniless serfs of international banks.

Posted on Feb 14, 2015 WATCH & LISTEN


How Did 80 People Get Half of the World’s Wealth?

Oxfam reports that just 80 people possess the same quantity of wealth as 3.5 billion others. On RT’s Crosstalk, economist Michael Hudson discusses how this happened with Oxfam official Max Lawson and Richard Wellings at London’s Institute for Economic Affairs.

Posted on Jan 26, 2015 WATCH & LISTEN



The 2015 Federal Budget Ended Pension Protections for Millions of Retirees (Videos)

A rule sneaked into the new federal budget endangers retiring Americans by eliminating the government’s legal obligation to insure pensions in the event the funds cannot pay retirees.

Posted on Jan 5, 2015 READ MORE


Michael Hudson: American Sanctions on Russia Backfire as Putin Partners With China

Out of the week’s Asia-Pacific Economic Cooperation (APEC) meetings has emerged the understanding that “the center of global economic investment is shifting to Asia, leaving the United States out as well as Europe,” economist Michael Hudson says.

Posted on Nov 14, 2014 WATCH & LISTEN



Russia-Ukraine Gas Deal Comes at a Price (Updated)

Aid from the International Monetary Fund will enable Ukraine to pay billions in debt to Russia’s primary gas company and free up enough of Ukraine’s budget to allow the country to buy fuel through the winter. But the IMF deal entails major reforms to the country’s energy industry.

Posted on Nov 1, 2014 READ MORE



The New Cold War’s Ukraine Gambit

With the IMF and European Central Bank acting as knee-breakers in what has become a financial extension of NATO, the U.S. and its allied investors aim to appropriate the wealth that kleptocrats took from the public domain of Russia, Ukraine and other post-Soviet economies, as well as whatever assets remain.

Posted on Oct 23, 2014 READ MORE



The Insider’s Economic Dictionary: S Is for Saint-Simon

Sex: The topic that has proved strong enough to displace religious and academic discussion about property and wealth as the driving force in human affairs and evolution.

Posted on Aug 9, 2014 READ MORE


Voters Reject Traditional Left Parties in EU Parliament Elections

“The U.S. press and newscasts make it appear that Europeans have voted against poor immigrants and foreigners,” economist Michael Hudson adds to an interview he had done with The Real News Network. “What they voted against [was] the super-rich, the oligarchy.”

Posted on Jun 1, 2014 WATCH & LISTEN



The Insider’s Economic Dictionary: R Is for Rentier

Race to the bottom: A term for dog-eat-dog competition by which countries compete by cutting wage levels so as to produce in the cheapest market, not by raising wages and labor productivity.

Posted on Apr 14, 2014 READ MORE



The Insider’s Economic Dictionary: P Is for Ponzi

Parasitism: In biology, parasites develop a strategy of gaining control of the host’s brain in order to obtain nourishment by masquerading as its natural progeny or as a part of its body. For economies, the brain in question is the government.

Posted on Apr 13, 2014 READ MORE



Ukrainian Hangovers

The Crimean population’s only protection from U.S.-sponsored regional and ethnic political division comes from Russia. That is the gift Obama has given Putin, making him a defender of Ukraine rather than the aggressor.

Posted on Mar 17, 2014 READ MORE



Ukraine: ‘Go West, Young Man’

When other countries seek to defend a multi-ethnic secular state, the U.S. foreign office has backed the fundamentalists for nearly the past half-century in all cases. This should be the subtext for reporting on the Ukrainian uprising that seems to have been carefully timed to coincide with Sochi.

Posted on Mar 2, 2014 READ MORE



Russia’s Economic Development to Offset Terrorist Fervor?

Nothing would go further toward rebuilding prosperity in Russia than a national program to transform the country’s infrastructure. Sochi has shown the way forward, and that is the real story the Western media have sidestepped.

Posted on Feb 27, 2014 READ MORE


Monopoly’s Poster Children

Economist Michael Hudson talks about how the economic crisis, austerity, U.S. economic policy and decisions made by local political parties shaped Ireland’s economy.

Posted on Feb 17, 2014 WATCH & LISTEN



N Is for Neo-Serfdom, O for Offshore Banking

Neoliberalism: The philosophy that public ownership and regulation is inherently less efficient than management by financial operators.

Posted on Jan 25, 2014 READ MORE



M for Marginalism

Money: All money is credit in one way or another. But today it is government-backed or government-created credit, as its defining characteristic is the government’s willingness to accept it in payment of taxes or other public fees.

Posted on Jan 24, 2014 READ MORE


Debt Is a Weapon for Taking Your Things Away

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

Posted on Jan 20, 2014 WATCH & LISTEN



The Insider’s Economic Dictionary: L Is for Land

Labor capitalism: A term popularized by Margaret Thatcher to describe an economy in which workers became shareholders but not managers. Labor’s role is that of the exploited party, not the beneficiary. “Labor” is to “labor capitalism” as “lamb” is to “lamb-chop.”

Posted on Jan 19, 2014 READ MORE



heyrocc (CC BY-ND 2.0)

J Is for Jubilee, K for Kleptocrats

Jubilee Year: In Judaic Law (Leviticus 25), a Clean Slate to be proclaimed every 50 years annulling personal and agrarian debts, liberating bond-servants to rejoin their families, and returning lands that had been alienated under economic duress.

Posted on Dec 28, 2013 READ MORE


American Oligarchs Will Never Cancel the Debts Owed to Them

University of Missouri economist Michael Hudson explains one of the best-kept and most pernicious secrets of contemporary capitalism: Unless the financial scheme underpinning society is restructured, the bulk of debts owed by working and poor Americans can’t and won’t be repaid.

Posted on Nov 30, 2013 WATCH & LISTEN



Pink Sherbert Photography (CC BY 2.0)

The Insider’s Economic Dictionary: I Is for Ideology

Ideology: A set of assumptions so appealing that one looks at their abstract logic rather than how the world actually works. (See Insanity.)

Posted on Nov 29, 2013 READ MORE



Arenamontanus (CC BY 2.0)

The Insider’s Economic Dictionary: H Is for Half-Life

Hubris: A Greek term meaning overgrowth or proliferation, an addiction to power involving abusive behavior toward others, above all by victimizing people economically, typically as creditors.

Posted on Nov 24, 2013 READ MORE



DaraKeroF (CC BY 2.0)

The Insider’s Economic Dictionary: G Is for Groundrent

Government: This social control function historically has been provided by public institutions. The modern and indeed, ancient role of government is to promote security, equality under the law, economic stability and fairness, and to provide legal redress against injurious acts so as to prevent economic polarization from downgrading the status of citizens.

Posted on Nov 17, 2013 READ MORE



chelsea.parker.photo (CC BY-ND 2.0)

The Insider’s Economic Dictionary: F Is for FIRE Sector

Free markets: Markets dominated by the financial and propertied classes whose objective is to secure all discretionary income for themselves, ultimately by asset stripping, leaving the economy without freedom of choice except to pay the rentier class.

Posted on Sep 23, 2013 READ MORE



josh.ev9 (CC BY-SA 2.0)

The Insider’s Economic Dictionary: E Is for Earned Income

Economist: Originally a member of the Physiocratic School (L’Économistes) who sought to replace France’s proliferation of excise and income taxes with a land tax. For modern economists’ general methodology, see Junk Science.

Posted on Sep 20, 2013 READ MORE



*Sally M* (CC BY-SA 2.0)

The Insider’s Economic Dictionary: D Is for Debt

Dependency: the loss of choice. Establishing a world system based on foreign dependency is the aim of the Washington Consensus.

Posted on Sep 15, 2013 READ MORE



Horia Varlan (CC BY 2.0)

The Insider’s Economic Dictionary: C Is for Camouflage

Capitalism: The term used to describe the social system based on promoting the accumulation of capital. Long used mainly as an economic invective, the term only recently has become more glorified by neoliberals, referring mainly to finance capitalism.

Posted on Aug 11, 2013 READ MORE



CarbonNYC (CC BY 2.0)

The Insider’s Economic Dictionary: B Is for Bailout

Republicans and the financial sector sequester the economic surplus in their own hands, price their economic rents to squeeze incomes, and then criminalize poverty as if the poor vote to be poor as a matter of choice!

Posted on Aug 10, 2013 READ MORE



jDevaun (CC BY-ND 2.0)

The Insider’s Economic Dictionary: Part A

Unlike psychological terminology—which consists mainly of terms of invective (try to think of a desirable personality complex)—today’s economic vocabulary is euphemistic. One rarely hears the terms “rentier” or “usury” that played so central a role in the debates of past centuries.

Posted on Aug 9, 2013 READ MORE


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