It is traditional for politicians to blame foreigners for problems that their own policies have caused. And in today’s zero-sum economies, it seems that if America is losing leadership position, other nations must be the beneficiaries. Inasmuch as China has avoided the financial overhead that has painted other economies into a corner, nationalistic U.S....
Monthly Archives: September 2010
How Brazil Can Defend Against Financialization
and Keep Its Economic Surplus for Itself CDES Conference, Brasilia, September 17, 2010 I would like to place this seminar’s topic, ‘Global Governance,’in the context of global control, which is what ‘governance’ is mainly about. The word (from Latin gubernari, cognate to the Greek root kyber) means ‘steering’. The question is, toward what goal...
That $50 Billion Infrastructure Plan
Obama’s Thatcherite Gift to the Banks As published on Counterpunch I can smell the newest giveaway looming a mile off. The Wall Street bailout, health-insurance giveaway and support of real estate prices rather than mortgage-debt write-downs were bad enough, not to mention the Oil War’s Afghan extension. But now comes a topper: the $50...
Is the Economy as Broke as Lehman Was?
The Angelides Committee Sidesteps the Mortgage Fraud Issue What is the difference between today’s economy and Lehman Brothers just before it collapsed in September 2008? Should Lehman, the economy, Wall Street – or none of the above – be bailed out of bad mortgage debt? How did the Fed and Treasury decide which Wall...
Books by Michael Hudson
