Fiscal Cliff Trojan

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More at The Real News November 25, 2012 Fiscal Cliff An Artificial Crisis Michael Hudson: Fiscal cliff was manufactured to shift more of the burden of the crisis onto ordinary people. Transcript PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The Real News Network. I'm Paul Jay in Baltimore. ... Now we are going to begin. And we are told that we're about to go over the cliff, a fiscal cliff, and we need to have massive reform to entitlement programs, Social Security, and others. Now joining us to discuss the crisis (we are told) is Michael Hudson. Michael was a Wall Street financial analyst and is now a distinguished research professor of economics at the University of Missouri–Kansas City. His new book is The Bubble ...

How Neoliberal Tax and Financial Policy Impoverishes Russia – Needlessly

* A shorter version of this paper has been published in the Russian Academy of Sciences journal, Mir Peremen (The World of Transformations), 2012 (3):49-64 (in Russian). An earlier version was posted by the Global Policy Forum meeting in Yaroslavl, Russia, September 7-8, 2011, on its website. Russian poverty is unnecessary. Like all poverty in today’s high-productivity age, it is the result of bad policy. There is no technological need for it, nor is Russia lacking in a full spectrum of natural resources and economic potential. So future historians no doubt will puzzle over how the nation was convinced to de-industrialize its economy and impoverish much of its population in favor of exporting fuels and minerals, and to impose ...

Obama Wins for whom?

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As published in Counterpunch The Democrats could not have won so handily without the Citizens United ruling. That is what enabled the Koch Brothers to spend their billions to support right-wing candidates that barked and growled like sheep dogs to give voters little civilized option but to vote for “the lesser evil.” This will be President Obama’s epitaph for future historians. Orchestrating the election like a World Wrestling Federation melodrama, the Tea Party’s sponsors threw billions of dollars into the campaign to cast the President’s party in the role of “good cop” against stereotyped opponents attacking women’s rights, Hispanics and nearly every other hyphenated-American interest group. In Connecticut, Senate candidate Linda ...

MH in the Classroom

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Michael Hudson's talk at the joint seminar on "Modern Monetary Theory" and "Monetary Circuit Theory" held at the Fields Institute on Tuesday July 3rd. Outlining his model at Canada’s Fields Institute, the world’s leading mathematical institute. At the meeting with Steve Keen, Stephanie Kelton,Nathan Tankus et al.