What will their future be – and what is the government’s proper financial role? As published in the Frankfurter Allgemeine Zeitung. The inherently symbiotic relationship between banks and governments recently has been reversed. In medieval times, wealthy bankers lent to kings and princes as their major customers. But now it is the banks that...
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Banking Wasn’t Meant to Be Like This
Background Briefing
Michael appeared on KPFK’s Background Briefing to discuss the recent Euro downgrades and the state of the EU. What is behind the S & P downgrades? Listen to the interview.
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Inside the World Bank’s Population Policy
Taken from Super Imperialism, 2nd Edition, p213 (1972) For instance, the World Bank is essentially an American instrument, and the United States is a food-surplus nation threatened with loss of foreign markets for farm products as modernization of European agriculture proceeds. For the World...
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Degredation of Democracy
Michael appears on Capital Account to discuss his two most recent articles, Democracy & Debt and Europe’s Transition from Social Democracy to Oligarchy.
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Europe’s Transition From Social Democracy to Oligarchy
As first published in Frankfurter Allgemeine Zeitung The easiest way to understand Europe’s financial crisis is to look at the solutions being proposed to resolve it. They are a banker’s dream, a grab bag of giveaways that few voters would be likely to approve...
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Democracy and Debt
Has the Link been Broken? *This article appeared in the Frankfurter Algemeine Zeitung on December 5, 2011. Book V of Aristotle’s Politics describes the eternal transition of oligarchies making themselves into hereditary aristocracies – which end up being overthrown by tyrants or develop internal...
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Systemic Deficit Strategy
Michael Hudson on the Super Committee and the deficit strategy. More at The Real News
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Reforming the U.S. Financial and Tax System
The pretense is that privatization is more efficient. But privatizers add on interest and financial fees, high executive salaries and bonuses, and turn the roads into toll roads and other infrastructure into neofeudal fiefdoms to charge monopolistic access fees for people to use. .......
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Iceland’s Fair Value Vultures
The New Bank Disaster Olafur Arnarson, Michael Hudson and Gunnar Tomasson* The problem of bank loans gone bad, especially those with government-guarantees such as U.S. student loans and Fannie Mae mortgages, has thrown into question just what should be a “fair value” for these...
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Occupy Systemic Change
Hudson with Lauren Lyster, discussing shocking new census poverty figures and the coming change. This rushed interview required more detail on solutions as can be heard here and read here.
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Now We’re Talking
Hudson is in form on KPFK today with Alan Minsky.
17 minutes - worth doing the dishes to.
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EU: Democracy Incompatible with Debt Collection
Democracy Now Nov 3 2011 AMY GOODMAN: World leaders are gathering in Cannes for the opening of the Group of 20 summit today. That’s the G20 summit. On the top of the agenda is Greece and the European debt crisis. The Greek prime minister,...
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Consent Needed for Debt Repayments
Hudson on the odious nature of debts encouraged by the banksters but repaid by the people through austerity.
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Trade Theory Financialized
To secure its privileges and tax favoritism, the financial sector opposes government power to tax or regulate. Fighting under the banner of “free markets,” it is now fighting to centralize economic planning power in Wall Street, the City of London and other financial centers....
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Simon Patten on Public Infrastructure and Economic Rent Capture
Rentier income is now treated as just another profit opportunity to gain from investing tangible or financial capital. Land and monopolistic rent-seeking activities are lumped together as “capital,” stripping away the classical distinction between economic rent and normal profit.
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Greek Austerity
Michael discusses how democracy has been subverted.
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Occupy Wall St – Systemic Change Please
Michael discusses the growing Occupy Wall St movement and the opportunities for banking reform. "How are you going to re-criminilise fraud? Tim Geithner is a bank lobbyist and should not be in charge of the Treasury".
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Obama’s Good Cop/ Bad Cop deal with the Republicans
Yet on Wednesday, October 4, the president tried to represent the OccupyWallStreet movement as supportive for his efforts. He pretended to endorse a pro-consumer regulator to limit bank fraud, as if he had not dumped Elizabeth Warren on the advice of Mr. Geithner –...
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Russian Ripoff
President Putin, now Prime Minister Putin, has said that the demographic effect of just privatizing Russian real estate, and industry and following western advice has lost maybe 30 million Russians from what the normal demographic growth would be to 2050. So the effect of...
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Books by Michael Hudson
