Ukraine: Victims Pay

SHARMINI PERIES, EXEC. PRODUCER, TRNN: Welcome to the Michael Hudson report on The Real News Network. I'm Sharmini Peries, coming to you from Baltimore. A ceasefire in Eastern Ukraine has been agreed to, following a marathon all-night, 17-hour negotiation between Russian President Vladimir Putin and Ukraine President Petro Poroshenko. They were flanked byother European leaders keeping vigil. Russia and Ukraine may have many differences, but what they have in common is a looming economic crisis, with oil prices taking a dive on the Russian side and a very expensive war they were not counting on on the Ukrainian side. Joining us now to talk about all of this is Michael Hudson. He is a distinguished research professor of economics at the University ...

The National Interest

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James Carden, “Bretton Woods: The Real Threat to Ukraine's Sovereignty?” The National Interest, February 2, 2015. Tom Friedman and George Soros believe Russia is the greatest threat to Ukraine. History suggests the IMF may be far more dangerous. When politicos and pundits wander off onto some half-baked historical analogy, it more often than not will have to do with comparing this or that current event to (if bad) Munich or (if very bad) 9/11. If the event is praiseworthy, it is likely be compared to the fall of the Berlin Wall or VE Day. When a politician as peripatetic as Mrs. Clinton does it, as when she compared Vladimir Putin to Adolph Hitler last March, one could reasonably enough chalk it up ...

Inequality = Privatisation of the Earth

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Truthdig summarises the interview as: Oxfam reports that just 80 people possess the same quantity of wealth as 3.5 billion others. On RT’s Crosstalk, economist Michael Hudson discusses how this happened with Oxfam official Max Lawson and Richard Wellings at London’s Institute for Economic Affairs. Hudson begins, “According to every economics textbook and all the Nobel prizes for the last 40 years, this can’t be happening. According to the economics textbooks, the wealthy get rich by adding to production. You earn what you make and they’re wealth creators. But in fact what they’re producing isn’t wealth, it’s poverty. And they do this largely because—I think you can think of them as being creditors. They’re creditors to the bottom 99 percent that are ...

Rentier Machinations

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RT news: On Thursday, the Swiss National Bank abolished its policy of keeping the franc artificially weak at a peg of 1.20 to the Euro and fallout from the move ricocheted throughout the markets and around the world. The wild swing in the Swiss currency hit global banks with tens of millions of dollars in losses and triggered the collapse of several brokerage firms. The trading losses occurred within minutes of the SNB’s announcement as the Swiss Franc jumped 30% against the euro almost instantaneously. Erin weighs in. Then, Erin is joined by Michael Hudson, distinguished professor of economics at the University of Missouri in Kansas City. Michael tells us about the connection between volatility in places like Switzerland and Greece and ...

Playing the Pension Funds

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Transcript: 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 the man behind the report, Michael Hudson. Michael is a distinguished research professor of economics at the University of Missouri-Kansas City. And his newest book, The Bubble and Beyond, has a new edition, with an index and two new chapters. And, of course, he's a regular contributor to The Real News. Thanks for being with us, Michael. MICHAEL HUDSON, PROF. ECONOMICS, UMKC: Thank you very much, Jessica. It's good to be back. DESVARIEUX: So, Michael, today we're going to be talking about the federal budget. What has really stood out to you in that budget? HUDSON: Well, ...

Big Fish, Little Fish

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US 2015 budget anti pension law, January 2, 2015. On the Senate’s last day in session in December, it approved the government’s $1.1 trillion budget for coming fiscal year. Few people realize how radical the new U.S. budget law was. Budget laws are supposed to decide simply what to fund and what to cut. A budget is not supposed to make new law, or to rewrite the law. But that is what happened, and it was radical. Wall Street’s representatives in Congress – the Democratic leadership as well as Republicans – took the opportunity to create an artificial crisis. The press called this “holding the government hostage.” The House – backed by the Senate – said that it would shut the government ...

Pipeline Politics

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Interview on the Real News. Visit their page to watch it. Sharing disabled. The Hudson Report: Europe's effort to join the US in isolating Russia has backfired, it makes no sense to build an oil and gas pipeline for Russian exports that would be owned and leased to them by the US and Europe. SHARMINI PERIES, EXEC. PRODUCER, TRNN: Welcome to The Real News Network. I'm Sharmini Peries, coming to you from Baltimore. President Vladimir Putin is canceling his oil and gas pipeline to Europe. To discuss why is our regular guest Michael Hudson. Michael is distinguished research professor of economics at the University of Missouri-Kansas City. His latest books are The Bubble and Beyond and Finance Capitalism and Its Discontents. Michael, so explain ...

Russian Pivot

https://www.youtube.com/watch?v=nflZSjiofr8 SHARMINI PERIES, EXEC. PRODUCER, TRNN: Welcome to The Real News Network. I'm Sharmini Peries, coming to you from Baltimore. President Vladimir Putin is on his way to India to discuss a gas and arms deal. Last week, he was in Turkey talking about diverting what was to be a South Stream pipeline away from Southern Europe to Turkey. At the APEC summit, he was squaring off deals with China for oil and gas. It is clear that Russia is pivoting to Eurasia. Here to discuss all of this is our regular guest Michael Hudson. Michael Hudson is distinguished ...

The Koch Brothers’ Governors

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Butlers Selling the Public’s Silver…. A Dress Rehearsal for Hillary? by Jeffrey Sommers & Michael Hudson The Koch Brothers are the closest thing the United States has to Russia’s oligarchs. They fuse ownership of the economy and state, using the latter to enrich themselves while making private gains through the public’s losses. Their idea of a “market economy” is to buy government officials and the assets they privatize at giveaway prices. The top three butlers at the Koch’s nouveau riche ‘Downton Abbey’ are Governors Sam Brownback of Kansas, Wisconsin’s Scott Walker, and Chris Christie of New Jersey. All three ran elections based on the anti-Keynesian oxymoron of promoting job creation by balancing budgets with regressive tax plans. All declared that cutting taxes (chiefly on ...

Backfired!

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U.S. New Cold War policy has backfired – and created its worst nightmare 1. The world’s geopolitics, major trade patterns and military alliances have changed radically in the past month. Russia has re-oriented its gas and oil trade, and also its trade in military technology, away from Europe toward Eurasia. The result is the opposite of America’s hope for the past half-century of dividing and conquering Eurasia: setting Russia against China, isolating Iran, and preventing India, the Near East and other Asian countries from joining together to create an alternative to the U.S. dollar area. American sanctions and New Cold War policy has driven these Asian countries together in association with the Shanghai Cooperation Organization as an alternative to NATO, and ...