Speculating on Quantitative Currency Wars

November 2, 2010
By

An Interview with Dr. Michael Hudson October 21, 2010 Interviewer: iTulip’s Eric Janszen (E): Welcome Michael Hudson to iTulip again. Thanks for joining us. Hudson (H): Thank you, Eric. E: So we’ve had discussions in the past about China’s response to America’s escalation of the currency wars. Yesterday they made a bold move, raising...

Read more »

Hudson on Capital Controls in FT today

October 19, 2010
By

Michael writes on currency speculation in today’s Financial Times – Capital controls will follow the weak dollar. It is well worth registering to this excellent news source. Two weeks ago Brazil moved to deter speculators from pushing up its currency, doubling the tax on foreign investment in its government bonds. Last week Thailand acted...

Read more »

Why the IMF Meetings Failed

October 11, 2010
By

And the Coming Capital Controls “Coming events cast their shadows forward.” – Goethe What is to stop U.S. banks and their customers from creating $1 trillion, $10 trillion or even $50 trillion on their computer keyboards to buy up all the bonds and stocks in the world, along with all the land and other...

Read more »

Who Wins?

October 3, 2010
By

While Labor Unions celebrate Anti-Austerity Day in Europe, European Neoliberals raise the ante: Governments must Lower Wages or Suffer Financial Blackmail Most of the press has described Europe’s labor demonstrations and strikes on Wednesday in terms of the familiar exercise by transport employees irritating travelers with work slowdowns, and large throngs letting off steam...

Read more »

America’s China Bashing: A Compendium of Junk Economics

September 29, 2010
By

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....

Read more »

How Brazil Can Defend Against Financialization

September 16, 2010
By

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...

Read more »

That $50 Billion Infrastructure Plan

September 14, 2010
By

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...

Read more »

Is the Economy as Broke as Lehman Was?

September 4, 2010
By

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...

Read more »

The Land-Residual vs. Building-Residual Methods of Real Estate Valuation

August 30, 2010
By

Some Prefatory Remarks to the N.Y.U. Real Estate Institute discussion, Oct. 25, 2001 Economic theory focuses on labor and capital, yet the largest category of tangible assets is not industrial plant and machinery earning profits, but real estate, and its primary objective is to make capital gains. Most new entries into the Forbes or...

Read more »

From Marx to Goldman Sachs: The Fictions of Fictitious Capital

July 30, 2010
By

As published in Critique, based on a presentation given at the China Academy of Sciences, School of Marxist Studies in Beijing in November 2009, and at the Left Forum in New York City, March 20, 2010. Classical economists developed the labor theory of value to isolate economic rent, which they defined as the excess...

Read more »

China's Policy Checkmate

July 27, 2010
By

Interview with Xulin Dong May 2010 DX: You have strongly advocated the use of taxation as a most effective and desirable way to prevent real-estate bubble. Now in the Chinese media there’s a good deal of discussion about the need to re-design China’s real-estate tax regime. In particular, about the merit of a US...

Read more »

Entrepreneurs: From the Near Eastern Takeoff to the Roman Collapse

July 19, 2010
By

Read more »

Dollar Hegemony and the Rise of China

July 12, 2010
By

Hudson to Premier Wen Jaibao, March 15, 2010 Dear Premier Wen Jiabao, I write this letter to counteract some of the solutions that Western politicians are recommending for China to cope with its buildup of excess foreign-exchange reserves. Raising the renminbi’s exchange rate against the dollar will not cure the China-US payments imbalance. The...

Read more »

Latvia’s Third Option

July 8, 2010
By

Neither Devaluation nor Austerity, but Tax Restructuring A shortened version was published in today’s Financial Times. As Europe’s banking crisis deepens, Greece’s and Spain’s fiscal crisis spreads throughout Europe and the US economy stalls, most discussions of how to stabilize national finances assume that only two options are available: “internal devaluation” – shrinking the...

Read more »

Banks Profit Going Up and Down

June 28, 2010
By

Michael Hudson on Renegade Economists Radio discussing China’s looming isolationism, the background on G20 austerity plans plus a few serves on what economics should be looking at. Hudson appears at the 2 minute mark. Audio – 22/06/2010 Subscribe to the Renegade Economists podcast

Read more »

Austerity for Prosperity

June 28, 2010
By

Part 2 Part 3

Read more »

Europe Sacrifices Labour for Finance

June 26, 2010
By

The “New Austerity” Road Europe is committing fiscal suicide – and will have little trouble finding allies at this weekend’s G-20 meetings in Toronto. Despite the deepening Great Recession threatening to bring on outright depression, European Central Bank (ECB) president Jean-Claude Trichet and prime ministers from Britain’s David Cameron to Greece’s George Papandreou (president...

Read more »

Why Europe Can't Look After Itself

June 21, 2010
By

Hudson’s latest interview with Bonnie Faulkner, discussing his recent venture to Latvia amidst Europe’s current troubles. Why have government’s suddenly forgotten how to finance themselves? Hudson on Guns N Butter, June 2010

Read more »

Hudson on Austerity Measures, Latvia Visit

June 8, 2010
By

Michael appears at the 13.40 minute mark.

Read more »

NeoLiberalism and the Counter-Enlightenment

May 27, 2010
By

Read more »