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."
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.
Your support matters…Independent journalism is under threat and overshadowed by heavily funded mainstream media.
You can help level the playing field. Become a member.
Your tax-deductible contribution keeps us digging beneath the headlines to give you thought-provoking, investigative reporting and analysis that unearths what's really happening- without compromise.
Give today to support our courageous, independent journalists.
Environment
At least, not fast enough to reach international targets.
Politics
But MAGA world's feud with Swift is an excellent vehicle for observing the ever-quickening decay of American politics.
TD Original
The multibillion-dollar Effective Altruism movement makes rich people feel good about being rich — to hell with the bad publicity.
TD Original
A well-wishing appreciation of Matt Christman.
Book Review
A new book by former Greek finance minister Yanis Varoufakis argues that capitalism as we knew it has been displaced by a twenty-first century feudalism.
TD Original
Social disappearing acts reflect the deepening inhumanity of a technology-addled, coldly transactional world.
You need to be a supporter to comment.
There are currently no responses to this article.
Be the first to respond.