Washington Consensus Encloses Ukraine

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More at The Real News The Real News Network West looks to ramp up gas production, as Vice President Biden's son named leader in Ukrainian gas company Burisma - August 4, 2014 JESSICA DESVARIEUX, TRNN PRODUCER: 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. Thanks for joining us, Michael. MICHAEL HUDSON, PROF. ECONOMICS, UMKC: Good to be here, Jessica. DESVARIEUX: So, Michael, we've been covering Ukraine ...

S for Saint Simon

Part S in the Insider's Economic Dictionary S-curve: The typical shape of growth in nature, such as human beings whose height tapers off as they reach maturity. They also typify most business cycles, which taper off after an upswing as employment, raw-materials and resource limits are approached and wages and commodity prices rise, slowing profits. The demand for specific products likewise tapers off as markets become saturated. Meanwhile, the fact that financial claims and debts tend to grow at compound interest means that financial dynamics tend to outrun the S-curve of production and consumption, creating business crises which end the upswing. Saint-Simon, Claude Henry de (1760-1825): French reformer best known for recognizing the need to replace debt relations by turning saving into ...

Vulture Funds trump Argentinian sovereignty

More at The Real News PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The Real News Network. I'm Paul Jay. The U.S. Supreme Court's refusal to review a case in which vulture funds sued to make the Argentinian government pay them 100 percent of the value of bonds, which they purchased for a fraction of the face value, let stand a lower court ruling requiring the bonds be paid in full. Reuters reports that Aurelius Capital Management, one of the lead holdout creditors seeking to settle with Argentina over sovereign debt payments from its 2002 default, said on Monday the government faces a new crisis on July 30 unless it engages in serious negotiations. Argentine officials and the holdout investors met ...

Escaping the dollar

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More at The Real News Is the New BRICS Bank a Challenge to US Global Financial Power? Michael Hudson and Leo Panitch discuss and debate the significance of the new international development bank created by Brazil, Russia, India, China and South Africa - 6 min ago 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. Leo Panitch is the Canada Research Chair in Comparative Political Economy and a distinguished research professor of political science at York University in Toronto. He is the ...

No to currency slavery

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From RT news Western support will allow more IMF and European lending to prop the Ukrainian currency so the Ukrainian oligarchs can move their money safely to British and US banks, economist and author Michael Hudson told RT’s Truthseeker. RT:Could you summarize for us the tried and tested steps that will lead from IMF loans, to Ukraine's best assets ending up in private Western hands - the IMF's 'knee-breaker' role as you memorably described it as? Michael Hudson: The basic principle to bear in mind is that finance today is war by non-military means. The aim of getting a country in debt is to obtain its economic surplus, ending up with its property. The main property to obtain is that which can produce ...

Ukraine: Bureaucratic Bliss

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More at The Real News Transcript WORONCZUK: So, Michael, let's talk about the economic association agreement that Moldova, Georgia, and Ukraine signed with the E.U. last week. Let's get a sense of what are the details of the agreement. And how does this differ from--let's say, in economic terms, from a full-fledged membership with the E.U.? HUDSON: Well, I'm going to begin by putting it in the big picture, and then I'll get to the details. The big picture is that this is a form of colonialism almost identical to what Europe did in Africa and Latin America and the Near East. What it did in the 19th century in Africa, where property was owned communally, was it would go to ...

Ukraine’s Gangster State

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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

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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, ...