Religious Conversion: from Theology to the Temple of Mammon

May 24, 2010
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The Friedman Institute upgrades Theology to condone Neoliberal Greed What would Jesus Say? Many academics recently received a petition signed by 111 University of Chicago faculty members, explaining that “without any announcement to its own community, has commissioned Ann Beha Architects, a Boston firm, to remake the Chicago Theological Seminary building into...

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Australia’s Needless Foreign Borrowing

May 24, 2010
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Michael Hudson and Shann Turnbull* (First published via Prosper Australia, written during Michael’s recent Oz tour.) Confronted by the global financial crisis that is burying foreign economies deeper in debt deflation each month, Australia needs to protect itself – indeed, to liberate itself from as many costs and risks as it can. Fortunately, many...

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Euro-Bankers Demand of Greece

May 10, 2010
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The wealthy won’t pay their taxes, so labor must do so. As published in Counterpunch The “Greek bailout” should have been called what it is: a TARP for German and other European bankers and global currency speculators. The money is being provided by other governments (mainly the German Treasury, cutting back its domestic spending)...

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Trouble in Europe, China

May 5, 2010
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Based on an interview with Eric Janszen of iTulip April 10, 2010 On April 10, 2010 I caught up with Michael Hudson and he was in rare form. Readers know that my personal view is that much of the right wing of the political spectrum doesn’t know what the problem is and all of...

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After the Ice Age

April 25, 2010
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After the Ice Age: How Calendar-keeping shaped Early Social Structuring Michael Hudson (UMKC) in Paul G. Bahn, ed., An Enquiring Mind: Studies in Honor of Alexander Marshack (American school of prehistoric research monograph series, Oxford and Oakville: Oxbow Books, 2009):149-53. I first met Alex Marshack in 1982 at a lecture he gave in New...

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Global Financial Crisis – Inside America interview

April 19, 2010
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With Goldman Sachs finally feeling some pressure, it is an opportune time to look back at the scale of shock depicted in this October 2008 AlJazeera piece. Michael is one of the guests. See the second part here

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Hudson – Today's Financial Times Article on the Euro Debt Bomb

April 9, 2010
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This is an edited version of The Coming European Debt Wars. Greece is just the first in a series of European debt bombs about to go off. Mortgage debts in the post-communist economies and Iceland are more explosive. Although most of these countries are not in the eurozone, their debts are largely denominated in...

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Latvia’s Cruel Neoliberal Experiment

April 8, 2010
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Latvia is being devastated by two global wars. On the geopolitical front is the Cold War’s coup de grâce. Neoliberals have managed to de-industrialize Russia and the rest of the former Soviet Union, persuading parliaments to dismantle government support for economic renewal. The “Washington Consensus” has backed a policy of giving away public enterprises...

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The Coming European Debt Wars

April 7, 2010
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Government debt in Greece is just the first in a series of European debt bombs that are set to explode. The mortgage debts in post-Soviet economies and Iceland are more explosive.  Although these countries are not in the Eurozone, most of their debts are denominated in euros. Some 87% of Latvia’s debts are in...

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Max Keiser interview on Obama-care

April 6, 2010
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Michael Hudson interviewed on Max Keiser’s On The Edge (Part 1)

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Keiser re Economic Suicide (pt2)

April 6, 2010
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More with Max Keiser on the economic malaise policy makers are pursuing…

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Hudson on Housing

March 26, 2010
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As seen on Fred Harrison’s website…

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Wall Street Moves In for the Kill

February 17, 2010
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Wall Street’s War Against Main Street America Former Treasury Secretary Hank Paulson wrote an op-ed in The New York Times yesterday (Feb. 16) outlining how to put the U.S. economy on rations. Not in those words, of course. Just the opposite: If the government hadn’t bailed out Wall Street’s bad loans, he claims, “unemployment...

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Latvia’s Neoliberal Madness

February 16, 2010
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World Economic Crisis: Latvia’s Neoliberal Madness You Think Greece Has Problems? Latvia’s Road to Serfdom By Prof. Michael Hudson and and Prof. Jeff Sommers While most of the world’s press focuses on Greece (and also Spain, Ireland and Portugal) as the most troubled euro-areas, the much more severe, more devastating and downright deadly crisis...

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The Bernanke Disaster: Be Afraid; Be Very Afraid

February 2, 2010
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Deepening Debt Crisis: The Road to Debt Peonage If the economy deteriorates in the L-shaped “hockey-stick” rut that many economists forecast, what political price will President Obama and the Democrats pay for having returned the financial keys to the Bush Republican appointees who gave away the store in the first place? Reappointing Federal Reserve...

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Obama’s Junk Economics

February 1, 2010
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Democrats Say “Bye” to Populist Option In a dress rehearsal for this November’s mid-term election, Democrats and Republicans vied last week for who could denounce the banks and blame the other party the most for the giveaways to Wall Street that have swollen the public debt since September 2008, pushing the federal budget into...

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Which Economy is Obama Talking About?

January 26, 2010
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Myths of Recovery Counterpunch The State of the Union address is in danger of purveying the usual euphemisms. I expect Obama to brag that he has overseen a recovery. But can there be any such thing as a jobless recovery? What has recovered are stock market averages and Wall Street bonuses, not disposable personal...

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On the Eve of the State of the Union

January 25, 2010
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Will Obama Put Muscle Into the White House’s New Populist Play? Counterpunch At stake now is President Obama’s credibility as an agent for change. Voters see his main “change” thus far to have been favoritism to Wall Street. Jay Leno jokes that Obama has done the impossible: resurrected the seemingly dying Republican Party and...

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Wall Street’s Power Grab

January 18, 2010
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The Financial Crisis Inquiry Commission Hearings Counterpunch You almost could hear the bankers heave a sigh of relief when Haiti’s earthquake knocked the Financial Crisis Inquiry Commission hearings off the front pages and evening news broadcasts last week. At stake, after all, is Wall Street’s power grab seeking to centralize policy control firmly in...

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Iceland can refuse debt servitude

January 6, 2010
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Financial Times Olafur Ragnar Grimsson, Iceland’s president, has created uproar with his decision to block legislation that would have repaid €3.9bn ($5.6bn) lost by British and Dutch savers in a failed Icelandic bank, triggering a referendum that the government is expected to lose. The initial response by credit rating agencies was to downgrade Icelandic...

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