Counterpunch Happy-face media reporting of economic news is providing the usual upbeat spin on Friday’s debt-deflation statistics. The Commerce Department’s National Income and Product Accounts (NIPA) for May show that U.S. “savings” are now absorbing 6.9 percent of income. I put the word “savings” in quotation marks because this 6.9% is not what most...
Read more »
Archive for June, 2009
Debt Deflation Arrives: What the Jump in the U.S. Savings Rate Means
How the Financial Reform Plan Protects the Status Quo: Obama’s (Latest) Surrender to Wall Street
Counterpunch In reaching across the aisle for Republican support – and no doubt future campaign contributions from the financial sector Pres. Obama is morphing into Joe Lieberman. There also is a touch of Boris Yeltsin in his sponsorship of a financial “reform” ominously similar to what advisor Larry Summers backed in Russia – relinquishing...
Read more »
Washington cannot call all the shots
Financial Times Challenging America will be the focus of meetings in Yekaterinburg, Russia, on Monday and Tuesday for Chinese President Hu Jintao, Russian President Dmitry Medvedev and other leaders of the six-nation Shanghai Co-operation Organisation. The alliance comprises Russia, China, Kazakhstan, Tajiki stan, Kyrgyzstan and Uzbekistan, with observer status for Iran, India, Pakistan and...
Read more »
De-Dollarization: Dismantling America’s Financial-Military Empire
The Yekaterinburg Turning Point Global Research The city of Yakaterinburg, Russia’s largest east of the Urals, may become known not only as the death place of the tsars but of American hegemony too – and not only where US U-2 pilot Gary Powers was shot down in 1960, but where the US-centered international financial...
Read more »
Renegade Economist The Michael Hudson Series – Part 5 Public Enterprise
The 5th part in our series – Michael Hudson discusses Public Enterprise can be viewed here.
Read more »
Books by Michael Hudson
