Traumatized Worker Syndrome

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CHRIS HEDGES: Hi, I’m Chris Hedges. Welcome to Days of Revolt. Today we're going to carry out part two of my discussion about where we’re headed economically, with economist Michael Hudson. He’s worked on Wall Street, taught economics, and is the author of Killing the Host: How Financial Parasites and Debt Destroy the Global Economy. Welcome, Michael. (Part One - The inversion of Classical Economics) MICHAEL HUDSON: It’s good to be here. HEDGES: So, we spoke in the first segment about the parasitic quality of the banks, hedge funds and the speculative class that has in essence cannibalized the country – including, interestingly, industry itself, and forced down the throats of the American public an unsustainable debt peonage, whether that’s through student loans, ...

The inversion of Classical Economics

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Days of Revolt: How We Got to Junk Economics In this episode of teleSUR's Days of Revolt, Chris Hedges interviews economist Michael Hudson on the history of classical economics and explores Marx's interpretation of capitalism as exploitation -   March 22, 2016 CHRIS HEDGES: Hi, I'm Chris Hedges. Welcome to Days of Revolt. Today in a two-part series we're going to be discussing a great Ponzi scheme that not only defines not only the U.S. but the global economy, how we got there, in the first segment, and secondly, where we're going. And with me to discuss this issue is the economist Michael Hudson, author of Killing the Host: How Financial Parasites and Debt Destroy the Global Economy. A professor of economics ...

Smart Parasites

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An interview with the Extra Environmentalists on the concepts behind Killing the Host. The episode is entitled the Age of Stagnation. Friends may appreciate a new higher quality audio recording, thanks to the Extra Environmentalists, who donated a microphone. They write: The common political conversation about our shared economic future focuses on achieving an escape velocity where the post-war growth boom can return as usual. While years of lackluster economic performance mount, a rapidly growing global economy is still discussed like it is readily just over the horizon. Can the factors creating a slower growth world find open discussion in time to avoid severe social strife? Is the drive for passive income in an age of stagnation placing the ...

The Commanding Heights

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This is Guns and Butter Suppose a country owes money to another nation’s government or official agency. How can creditors collect, unless there’s an international court and an enforcement system? The IMF and the World Bank were part of that enforcement system and now they’re saying: ‘We’re not going to be part of that anymore. We’re only working for the U.S. State Department and Pentagon. If the Pentagon tells the IMF it’s okay that a country doesn’t have to pay Russia or China, then now they don’t have to pay, as far as the IMF is concerned.’ That breaks up the global order that was created after World War II. The world is being split into two halves: the U.S. dollar ...

The 3 Economic Stories of 2015

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JESSICA DESVARIEUX, PRODUCER, TRNN: Welcome to the Real News Network. I’m Jessica Desvarieux in Baltimore. And welcome to this edition of the Hudson Report. Now joining us is MichaelHudson. He’s an economics professor at the University of Missouri Kansas City, and he has a new book out titled Killing the Host. Thank you so much for joining us, Michael. MICHAEL HUDSON: It’s good to be here, Jessica. Since we last talked I’ve also been appointed a professor at Peking University in Beijing. DESVARIEUX: Awesome. Congratulations. So Michael, let’s get right into it and talk about the big stories of 2015, economic stories, I should say. What would you say are thethree most important stories that people should be aware of? HUDSON: Well, the ...

Rewriting Economic Thought

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The following is a transcript of CounterPunch Radio – Episode 19 (originally aired September 21, 2015). Eric Draitser interviews Michael Hudson. Eric Draitser: Today I have the privilege of introducing Michael Hudson to the program. Doctor Hudson is the author of the new book Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy, available in print on Amazon and an e-version on CounterPunch. Michael Hudson, welcome to CounterPunch Radio. Michael Hudson: It’s good to be here. ED: Thanks so much for coming on. As I mentioned already, the title of your book – Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy – is an apt metaphor. So parasitic finance capital is really what you’re ...

Beyond Leeching

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An interview on Uprising with Sonali Listen by clicking here The Federal Reserve this week is considering raising interest rates above levels that have hovered at zero since 2008. News media are characterizing the debate over whether or not to increase rates, as “Should we be more concerned about the pace of job growth or the threat of inflation?” But the question often left unasked is, “why are most Americans still struggling in this economy?” The bottom lines of corporations are taken to be a measure of economic health. But if the economy is ostensibly designed so that all can benefit, why is it that only a few benefit?

The Sanctity of Debt

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[soundcloud url="https://api.soundcloud.com/tracks/223685976" params="auto_play=false&hide_related=false&show_comments=true&show_user=true&show_reposts=false&visual=true" width="100%" height="450" iframe="true" /] Today's interview on the highly regarded This Is Hell! show: Economist Michael Hudson explains how finance became capitalism's driving force and why an increasing amount of American life is being dedicated to sustaining unsustainable debt values, then gives a radical history lesson in debt economics - from ancient Sumer to the University of Chicago - that suggests the only way to end a debt crisis is to end the debt itself. Michael is author of the new book "Killing the Host: How Financial Parasites and Debt Destroy the Global Economy."