D is for Debt

September 9, 2013
By

Part D in The Economic Insider’s Dictionary Debt: Only pure assets and equity ownership exist without corresponding debt. For financial saving, one party’s saving deposit, loan or credit appears as another party’s debt on the opposite side of the balance sheet. (Even net worth appears on the liabilities side of the balance sheet.) Debt...

Read more »

C is for Camouflage

August 10, 2013
By

Part C in The Insider’s Economic Dictionary Camouflage: A cloak of artificial attractiveness or even of invisibility. Financial debt-claims on the economy’s income and assets camouflage themselves as wealth, although the financial tactic is to strip it. (See Euphemism and Parasite.) Capital: From Latin caput, “head,” as the political seat of government, society’s guiding...

Read more »

B is for Bailout

August 7, 2013
By

Part B to the Insider’s Economic Dictionary Bailout: Reimbursement to speculators and savers of losses incurred by bad loans, investments or deposits in banks that fail. The effect of this moral hazard is to preserve financial control in the hands of the economy’s wealthiest 10 percent, “making them whole” by shifting the loss onto...

Read more »

Obama’s Master Class in Demagogy 101

July 25, 2013
By

Yesterday President Obama chose Knox College in Galesburg, Illinois (originally founded by anti-slavery activists in the 1830s) to float the economic program he has been working out with Wall Street investment bankers. His aim is to wrap this program in a democratic rhetoric. The speech’s actual content boils down to: “I’m doing fine and...

Read more »

China – Avoid the West’s Debt Overhead: A Land Tax is needed to hold down Housing Prices

July 22, 2013
By

How can China avoid the “Western financial disease” – a real estate bubble followed by defaults and foreclosures? The U.S. and European economies originally sought to avoid this fate by taxing the location’s site value. A rent tax was the focus of Progressive Era reforms. Enacting a rent tax remains China’s main challenge to...

Read more »

Game Over

July 20, 2013
By

Prime Interest Interview

Read more »

The Insider’s Economic Dictionary – Part A

July 18, 2013
By

Part A to the Insider’s Economic Dictionary. The Antidote to Euphemism The fallacies that lurk in words are the quicksands of theory; and as the conduct of nations is built on theory, the correction of word-fallacies is the never-ending labor of Science. … the party in this country, one of whose great aims was,...

Read more »

The Bubble Economy as a 2 part play for Privatisation

July 4, 2013
By

As published in the latest World Economics Association digest, the Real World Economics Review The Federal Reserve’s QE3 has flooded the stock and bond markets with low-interest liquidity that makes it profitable for speculators to borrow cheap and make arbitrage gains buying stocks and bonds yielding higher dividends or interest. In principle, one could...

Read more »

Finance Capitalism & Its Discontents on Kindle

May 29, 2013
By
Finance Capitalism & Its Discontents on Kindle

This collection contains the most important interviews and speeches that Professor Michael Hudson, Distinguished Professor of Economics at the University of Missouri (Kansas City), and president of the Institute for the Study of Long-term Economic Trends (ISLET) has given over the past decade (2003-2012). They span the political spectrum from COUNTERPUNCH.COM and KPFK radio’s...

Read more »

Left Forum: Austerity Isnt Working

May 26, 2013
By

I am speaking in two panels at the Left Forum – I hope you can join us. Austerity isn’t Working, Can Keynesian Reforms Save the System?
 Saturday, 8th of June 10:00am-11:50am Pace University, New York City
 Room: W613 Abstract: Three contributions on the question, Is a Reformist Solution Possible? Hillel Ticktin looks at the...

Read more »

Monopoly Price Tyranny

May 24, 2013
By

Keiser-Hudson on bread to debt, 2nd half of the show.

Read more »

Obama’s Catfood Reform

April 11, 2013
By

More at The Real News Edited transcript Michael Hudson: Obama’s “bargain” on social security reform will push more retirees into poverty in exchange for a minor increase in high end income tax – a class that receives most revenue from capital gain. Obama’s Social Security reform April 11, 2013. PAUL JAY, SENIOR EDITOR, TRNN:...

Read more »

Thatcher – ‘Sorry You’ve Lost Your Job’

April 9, 2013
By

More at The Real News Edited transcript PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The Real News Network. I’m Paul Jay in Baltimore. Former prime minister Margaret Thatcher has passed away, and of course around the world people are debating her legacy. Henry Kissinger said she was a great defender of Western interests. She’s...

Read more »

“Let us glory in our inequality.”

April 8, 2013
By

Failed Privatizations – the Thatcher Legacy By Michael Hudson, a research professor of Economics at University of Missouri, Kansas City, and a research associate at the Levy Economics Institute of Bard College. His latest book is “The Bubble and Beyond”. This is from my book on privatization, written some 15 years ago, never published....

Read more »

Mrs. Thatcher’s Mean Legacy

April 8, 2013
By

The Queen Mother of Global Austerity and Financialization Michael Hudson and Jeffrey Sommers We typically honor the convention to refrain from speaking ill of the recently departed. But Margaret Thatcher probably would not object to an epitaph focusing on how her political legacy was to achieve her professed aim of “irreversibly” dismantling Britain’s public...

Read more »

Too Big To Jail?

March 30, 2013
By

More at The Real News Too Big to Fail Public Banking Needed to Stop “Cannibalization” of the Economy, March 29, 2013. Michael Hudson: As long as finance is left in private hands, you’re going to have austerity and America ending up looking like Greece and Ireland. PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The...

Read more »

Wall St Burdens the Public Debt

March 25, 2013
By

More at The Real News PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The Real News Network. I’m Paul Jay in Baltimore. As the effects of the sequester agreement ripple through the American economy–massive cuts, that is, to social programs, and the military to some extent–one thing is clear: both sides–President Obama and the leadership...

Read more »

Banking on Student Debt

March 21, 2013
By

More at The Real News Student debt is the new growth zone for banking revenues. With no student bankruptcy permitted, this is akin to a low risk revenue stream for the financial industry, now second in size to mortgage debt. Solution to Student Debt is to Get the Banks Out of the Education Business...

Read more »

Government Debt and Deficits Are Not the Problem. Private Debt Is.

March 12, 2013
By

There are two quite different perspectives in the set of speeches at this conference. Many on our morning panels – Steve Keen, William Greider, and earlier Yves Smith and Robert Kuttner – have warned about the economy being strapped by debt. The debt we are talking about is private-sector debt. But most officials this...

Read more »

Economic Policy Deception

March 8, 2013
By

Another in the series of interviews on the Renegade Economists radio show (Australia), a wide ranging analysis of the advantages to wealth that money printing and poor tax policy produce. Topics include land and housing policy, German gold repatriation, Occupy, Bradley Manning, Iran, Obama and Kruegar. Listen here Subscribe to the show (itunes) Transcription...

Read more »