When the financial bubble burst in September 2008, U.S. and European governments responded by shifting bank losses onto their own balance sheets. The pretense is that real growth cannot resume until the banks and speculators are “made whole.” To cover the cost of bailing out the banks, governments now are trying to run budget...
Monthly Archives: January 2013
2013 – the stage is set
Hudson on the Thom Hartmann Program.
Latvia’s Economic Disaster as a Neoliberal Success Story: A Model for Europe and the US?
by Jeffrey Sommers and Michael Hudson A generation ago the Chicago Boys and their financial supporters applauded General Pinochet’s anti-labor Chile as a success story, thanks mainly to its transformation of their Social Security into Employee Stock Ownership Plans (ESOPs) that almost universally were looted by the employer grupos by the end of the...
Books by Michael Hudson
