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J is For Junk Economics: A Guide to Reality in an Age of Deception

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PRESS RELEASE We are proud to offer the latest work from Prof. Michael Hudson, Distinguished Professor of Economics, University of Missouri at Kansas City (UMKC). A follow-on to his successful Killing the Host: How Financial Parasites and Debt Destroy the Global Economy (2015), J is for Junk Economics: A Guide to Reality in an Age of Deception is an A-to-Z guide that explains how the world economy really works – and who are the winners and losers. In more than 400 concise and acerbic entries, several essays, and a full topic index, the book covers contemporary terms that are misleading or poorly understood as well as many important concepts that have been abandoned – many on purpose – from the official economics ...

Wall Street First

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Trump is Obama’s Legacy. Will this Break up the Democratic Party? Nobody yet can tell whether Donald Trump is an agent of change with a specific policy in mind, or merely a catalyst heralding an as yet undetermined turning point. His first month in the White House saw him melting into the Republican mélange of corporate lobbyists. Having promised to create jobs, his “America First” policy looks more like “Wall Street First.” His cabinet of billionaires promoting corporate tax cuts, deregulation and dismantling Dodd-Frank bank reform repeats the Junk Economics promise that giving more tax breaks to the richest One Percent may lead them to use their windfall to invest in creating more jobs. What they usually do, of course, is ...

Retirement. What Social Obligation?

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https://www.youtube.com/watch?v=cdv9EvWxkdc SHARMINI PERIES: It's The Real News Network. I'm Sharmini Peries, coming to you from Baltimore. I'm speaking with Michael Hudson about his new book J Is For Junk Economics: A Guide to Reality in the Age of Deception. Thanks for joining me again, Michael. MICHAEL HUDSON: Good to be here. SHARMINI PERIES: So, Michael, on page 260 of your book you deal with the issue of Social Security and it’s a myth that Social Security should be pre-funded by its beneficiaries, or that progressive taxes should be abolished in favor of a flat tax. Just one tax rate for everyone you criticize. We talked about this earlier, but let’s apply what this actually means when it comes to Social Security. MICHAEL HUDSON: The mythology ...

Why Deficits Hurt Banking Profits

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https://www.youtube.com/watch?v=cQmrg8cIjdQ Economist Michael Hudson takes on the mythology surrounding government budgets and explains how the term 'stability' has been used as a cover for financial fraud. SHARMINI PERIES: It's The Real News Network. I'm Sharmini Peries coming to you from Baltimore. I am speaking with Michael Hudson in our studio in Baltimore about his new book, "J Is For Junk Economics: A Guide to Reality in the Age of Deception". Thank you again for joining me. MICHAEL HUDSON: Good to be here. SHARMINI PERIES: So, Michael, one of the concepts that you deal with is about balancing the budget, the whole mythology surrounding that. That is your myth number 17, where you say, "Government budget deficits are bad. Balanced budgets are good. And budget surpluses ...

Focus on Capital Gains

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https://www.youtube.com/watch?v=cOk208Rvms8 J is for Junk Economics: Michael Hudson on TRNN (3/5) March 1, 2017, SHARMINI PERIES: It's The Real News Network. I'm Sharmini Peries, coming to you from Baltimore. In our studios today we have Michael Hudson, who’s written a new book called, J is for Junk Economics: A Guide to Reality in the Age of Deception. All right, Michael, in this book -- and we’re now in segment three – we are going to talk about Trump’s plan to lower taxes. He has said that he would reduce corporate taxes from 35% to 15%. The 35% itself is a bit of a myth, because I don't think there are too many corporations out there who do pay the 35%. But he’s ...

Alluring Infrastructure Income

'J is for Junk Economics': Michael Hudson on TRNN (2/5), February 28, 2017. Trump's infrastructure plan will privatize all the benefits for the financiers and make sure that the population at large gets zero benefit from it while paying the costs, says economist Michael Hudson SHARMINI PERIES: Welcome back to The Real News Network. I'm speaking with Michael Hudson, the author of, J is for Junk Economics, a Guide to Reality in the Age of Deception. Don't miss it. We're going to be talking about this book, and some of the misleading concepts that are out there, in terms of economics, and understanding economics. Being able to talk about economic concepts with a bit more knowledge than we have, requires reading this book. ...

Euphemise to Conceal

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“J is for Junk Economics”: Michael Hudson on TRNN (1/5), February 27, 2017 Michael Hudson, author of the newly released J is for Junk Economics, says the media and academia use well-crafted euphemisms to conceal how the economy really works SHARMINI PERIES: It’s The Real News Network. I'm Sharmini Peries, coming to you from Baltimore. J is for Junk Economics: A Guide to Reality in the Age of Greed and Deception by Michael Hudson, that's the topic of our discussion today. Michael is joining us in our studio in Baltimore. Thanks for joining us, Michael. MICHAEL HUDSON: It’s really good to be back down here. SHARMINI PERIES: Michael Hudson is a distinguished research professor of economics at the University of Missouri, Kansas City. He's the ...

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 ...