Greek IMF Loan a Planned Obsolesence

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https://www.youtube.com/watch?v=nEKHMuvZ4yA SHARMINI PERIES: It's The Real News Network. I'm Sharmini Peries, coming to you from Baltimore. The latest economic indicator showed that the Greek economy shrank by 0.4% in the last three months of 2016. This poses a real problem for Greece, because its lenders are expecting it to grow by 3.5% annually, to enable it to pay back on its bailout loan. Greece is scheduled to make a 10.5 billion euro payment on its debt next summer, but is expected to be unable to make that payment, without another installment from its $86 billion bailout. A growing impasse between the International Monetary Fund, and the European Central Bank, Greece's two main lenders, is threatening to push Greece into default, and pull out ...

Bad Lenders Make Bad Loans

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“IMF Lent to Greece Knowing It Could Never Pay Back Debt,” TRNN, February 17, 2017. https://www.youtube.com/watch?v=nEKHMuvZ4yA There's a real need for international debtor rights, says economist Michael Hudson. SHARMINI PERIES: It's The Real News Network. I'm Sharmini Peries, coming to you from Baltimore. The latest economic indicator showed that the Greek economy shrank by 0.4% in the last three months of 2016. This poses a real problem for Greece, because its lenders are expecting it to grow by 3.5% annually, to enable it to pay back on its bailout loan. Greece is scheduled to make a 10.5 billion euro payment on its debt next summer, but is expected to be unable to make that payment, without another installment from its $86 billion bailout. A growing ...

Book Launch Washington, Baltimore

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J is for Junk Economics is launching in the following cities, where I will be discussing how mainstream economic vocabulary has been contorted to obscure the manner in which financial giants extract wealth from rest of the economy. This A-Z user's guide will serve as critical reading for those seeking to understand the broader economic system during this new "post-fact" era. Feb 21, 7 - 9pm: Busboys and Poets, Cullen Room, Washington DC Feb 22, 12.30 - 2pm: The Democracy Collective, Washington DC Feb 22, 7.30 - 9.30pm: Red Emma's, Baltimore    

J is For Junk Economics – Order Now

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Professor Hudson's companion and follow-up to KILLING THE HOST: HOW FINANCIAL PARASITES AND DEBT DESTROY THE GLOBAL ECONOMY. The new book, J IS FOR JUNK ECONOMICS is now listed on Amazon for pre-order. Special pre-publication offer: Only $24.95 (for US dollar orders) until March 1, 2017. An essential building block for society's economic literacy, the book is an A-to-Z guide to the vocabulary in use in today's tunnel-visioned, overly-mathemetized economic lexicon. It includes terms and concepts abandoned - many on purpose - from the long history of political economy. The book builds on The Economic Insider’s Dictionary listings that were so popular on this site. It explains how the world economy really works with cunning historical insight on the doublespeak we endure. ...

The Land Belongs to God

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Speech to the Union Theological Seminary, Columbia. The focus of my talk today will be Jesus' first sermon and the long background behind it that helps explain what he was talking about and what he sought to bring about. I've been associated with Harvard University's Peabody Museum for over thirty years in Babylonian economic archeology. And for more than twenty years I've headed a group out of Harvard, the International Scholars Conference on Ancient Near Eastern Economies (ISCANEE), writing a new economic history of the ancient Near East. The five colloquia volumes that we've published began in 1994. We decided we have to re-write the history to free it from the modern ideological preconceptions that have distorted much popular understanding. When I ...

Trump Infrastructure Plan = Developer Welfare

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SHARMINI PERIES: It's The Real News Network. I'm Sharmini Peries, coming to you from Baltimore. While protestors and police are clashing on the inaugural parade route in Washington, D.C., the newly sworn-in President of the United States is lunching with the establishment in Washington -- Some of the very people he called out in his inaugural address. Let's have a look. DONALD TRUMP: We are transferring power from Washington, D.C. and giving it back to you, the people. CROWD: (applause) DONALD TRUMP: For too long a small group in our nation's capital has reaped the rewards of government while the people have borne the cost. Washington flourished but the people did ...

Golden Tongues

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Michael Hudson on the Orwellian Turn in Contemporary Economics, TRNN, November 17, 2016. Economist Michael Hudson sits down with Sharmini Peries to talk about the elections and his new book J is for Junk Economics [Out January 20, 2017). SHARMINI PERIES, TRNN: It’s the Real News Network. I’m Sharmini Peries coming to you from Baltimore. Come January 20th Donald Trump is placed to take power in Washington D.C., and there’s one thing that everyone is wondering about is what kind of economic policies will he implement that we should really worry about it. Well there’s been one economist, Michael Hudson, who’s been thinking hard and taking a close look on the economics profession and how it misleads the general public in favor ...

Innocuous Proclaimations

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This is a transcript from Meet the Renegades with economist Michael Hudson and interviewer Ross Ashcroft. You can watch the full interview with Michael here. Michael Hudson: I’m Michael Hudson. I’m a professor of economics at the University of Missouri, Kansas City and Peking University. My focus is on the distinction between the financial economy and the real economy at large. I treat the financial sector and debt as an economic overhead, so my focus is on how society can deal with the debt and to explain why society cannot recover from the current depression until it writes down the debts to what can be paid. Ross Ashcroft: Michael, we’re almost a decade on since 2008 and we sit here now in the ...

Keen, Hudson Unpick Historical Path to Global Recovery

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REAL VISION INTERVIEW TRANSCRIPT: Featuring: Michael Hudson, Steve Keen Published date: 22nd of November 2016 Synopsis: With two renegade economists in one room in London for 90 minutes you can expect some pretty controversial opinions about the current economic establishment. This film has all the makings of a Real Vision classic, as Steve Keen interviews professor and author, Michael Hudson, sharing their radical views and an extraordinary depth of knowledge. Discussing the complacency and complicity of traditional economic models, as taught in universities and adopted by central banks, Michael and Steve take us on a journey from a solar system to a galaxy of thought, taking in the history of economics to solutions for the ongoing global depression. Subscriber video link The content and ...