Ukraine’s Gangster State

By No tags Permalink

Hard and fast insights on Ukraine's land-grabbing, with some frightening developments unfolding. I am interviewed briefly. This could well be another test on how far things can be pushed, building on Latvia. Share this. Transcript This is a rush transcript. Copy may not be in its final form. RT: Nuclear weapons plans in the new gangster state of Ukraine. Coming up. Announcer: Ukraine's new coalition calls officially for “pre-emptive nuclear strikes”. Governors on the international wanted list. And the sordid past of the new oligarch President. RT: Pensions halved to $3 a day, heating costs doubled, forced sell-off of the country’s land and resources - all part of IMF “knee-breakers” imposed round the world, now in Ukraine. In a bombshell announcement ignored by mainstream media, even the ...

Tea Party Winners

By Permalink

Why the Tea Party & European Right Are Winning Elections More at The Real News Michael Hudson: There is no real left-wing alternative to the right Bio Michael Hudson is a Distinguished Research Professor of Economics at the University of Missouri, Kansas City. His two newest books are “The Bubble and Beyond” and “Finance Capitalism and its Discontents,” available on Amazon. Transcript ANTON WORONCZUK, TRNN PRODUCER: Welcome to The Real News Network. I'm Anton Woronczuk in Baltimore. And welcome to another edition of The Hudson Report. Now joining us is Michael Hudson. He's a distinguished research professor of economics at the University of Missouri-Kansas City. His two newest books are The Bubble and Beyond and Finance Capitalism and Its Discontents. Thanks for joining us, ...

The Economic Crisis & Crisis Theory II

By , Permalink

This panel explored causes of the Great Recession and the continuing economic sluggishness since the recession’s ended, as well as how the left can respond to this situation. In keeping with the conference theme, panelists addressed what different analyses and theories imply about the kind of socioeconomic change that is called for. Alan Freeman spoke on “Consumption, Profit and Finance: why can’t the left get it right?” He will explore why so many academic left thinkers persistently avoid normal methods of enquiry after truth. Focusing on Marx’s theory of crisis, the share of wages in US income, and the relation between finance and profitability as examples, he will discuss how prejudice and the desire to find “evidence” to support a political ...

EU Voters Turn Against Austerity

By , Permalink

More at The Real News Reflecting on this topic, I add: The US press and newscasts make it appear that Europeans have voted against poor immigrants and foreigners. What they voted against the super-rich, the oligarchy. The “foreigners” being opposed include the United States insisting on drawing NATO into its wars in Libya,Iraq, Syria and Afghanistan – and now, subsidizing Ukraine to confront Russia. The “nationalist” parties voted against the EU constitution written by the oligarchy to favor the banks against labor. It is a neoliberal constitution that prevents governments from running budget deficits of more than 3% of GDP – except of course to bail out banks ...

QE reduction in time for next speculative kickoff

By , Permalink

More at The Real News JESSICA DESVARIEUX, TRNN PRODUCER: It's been about four years since the financial crash, and the Federal Reserve has been scaling back its program of monthly purchases of government and mortgage bonds. Each month, they've tapered off their purchases by $10 billion, and they're on track for spending $45 billion this year, which is a big dip, considering they spent $85 billion last year. There are certainly a lot of numbers there and financial terms that we need to break down. And now joining us is our guest to give us that bottom line, Michael Hudson. He's a distinguished research professor of economics at the University of Missouri-Kansas City. Thanks for joining us, Michael. MICHAEL HUDSON, PROF. ECONOMICS, UMKC: Thank you, ...

The New Cold War’s Ukraine Gambit

Michael Hudson The following article is from a new book, Flashpoint in Ukraine, edited by Stephen Lendman. It is currently available from Clarity Press as an e-book, and soon to be printed. Finance in today’s world has become war by non-military means. Its object is the same as that of military conquest: appropriation of land and basic infrastructure, and the rents that can be extracted as tribute. In today’s world this is taken mainly in the form of debt service and privatization. That is how neoliberalism works, subduing economies by indebting their governments and using unpayably high debts as a lever to pry away the public domain at distress prices. It is what today’s New Cold War is all about. Backed by ...

Stockholm Syndrome in the Baltics

By , , , Permalink

Latvia’s Neoliberal War Against Labor and Industry Published in The Contradictions of Austerity: The socio-economic costs of the neoliberal Baltic model Edited by Jeffrey Sommers & Charles Woolfson This article examines how neoliberal policymakers trained in the United States captured Latvia’s economic policy to impose pro-rentier, pro-bank, anti-labor tax and financial policies. Latvia’s national interests were subordinated to those of the banks, which were mainly Swedish. These banks made real estate loans far in excess of Latvians’ ability to pay, and also lent recklessly to Latvia’s private capital market prior to the autumn 2008 economic crash.  Latvians suffered a ‘Stockholm Syndrome,’ imposing austerity and internal devaluation policies that pauperized the economy while identifying their national interest with Swedish economic views and banking ...

The 1% and Piketty

By , Permalink

More at The Real News 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 Michael Hudson. Michael is a distinguished research professor of economics at the University of Missouri-Kansas City. His two newest books are The Bubble and Beyond and Finance Capitalism and Its Discontents. Thanks for joining us, Michael. MICHAEL HUDSON, PROF. ECONOMICS, UNIV. OF MISSOURI, KANSAS CITY: Thank you, Jessica. DESVARIEUX: So, Michael, this week we're going to be talking about the very popular book by French economist Thomas Piketty. It's a 700-page book that takes on the topic of income inequality. Why do you think so many people are talking about this book? What's in ...

Obama channeling Cheney?

By No tags Permalink

More at The Real News I'm Jessica Desvarieux in Baltimore. And welcome to this edition of The Hudson Report. Now joining us is Michael Hudson. He is a distinguished research professor of economics at the University of Missouri-Kansas City. His two newest books are The Bubble and Beyond and Finance Capitalism and Its Discontents. Thanks for joining us, Michael. MICHAEL HUDSON, PROF. ECONOMICS, UMKC: Thank you, Jessica. DESVARIEUX: So, Micheal, what are you tracking this week? HUDSON: The big news is all about the Ukraine. And it's about the events that happened in the shootings on February 20. Late last week, the German television program ARD Monitor, which is sort of their version of 60 Minutes here, had an investigative report of the shootings ...