Killing the Host – the book

By Permalink

The book can be ordered in paperback or as an ebook:     KILLING THE HOST exposes how finance, insurance, and real estate (the FIRE sector) have gained control of the global economy at the expense of industrial capitalism and governments. The FIRE sector is responsible for today’s economic polarization (the 1% vs. the 99%) via favored tax status that inflates real estate prices while deflating the “real” economy of labor and production. The Great 2008 Bailout saved the banks but not the economy, and plunged the U.S., Irish, Latvian and Greek economies into debt deflation and austerity. This book describes how the phenomenon of debt deflation imposes austerity on the U.S. and European economies, siphoning wealth and income upward to the financial sector while impoverishing the ...

Reuters’ Public Relations Missif

As published on Counterpunch: This autumn may see anti-austerity coalitions gain power in Portugal, Spain and Italy, while Marine le Pen’s National Front in France presses for outright withdrawal from the eurozone. These countries face a common problem: how to resist the economic devastation that the European Central Bank (ECB), European Council and IMF “troika” has inflicted on Greece and is now intending to do the same to southern Europe. To resist the depression and debt deflation that the troika seeks to deepen, one needs to bear in mind the dynamics that make the IMF un-reformable. Its destructive role in Greece provides an object lesson for how southern Europe must shun its horde of ideologues, as Third World countries learned to avoid ...

Book review: Killing the Host

By Permalink

The first of hopefully many book reviews. Thanks to those who have already reviewed it on Amazon, we are off to a good start. Pam Martens from Wall St On Parade writes: The riveting writer, Michael Hudson, has read our collective minds and the simmering anger in our hearts. Millions of American have long suspected that their inability to get financially ahead is an intentional construct of Wall Street’s central planners. Now Hudson, in an elegant but lethal indictment of the system, confirms that your ongoing struggle to make ends meet is not a reflection of your lack of talent or drive but the only possible outcome of having a blood-sucking financial leech affixed to your body, your retirement plan, and your ...

The Public Interest & its Planned Obsolescence

Another in the series of interviews on the Renegade Economists radio show, with Tune Nielsen (Positive Money Denmark, Gode Penge ) and host Karl Fitzgerald. QE for the People by Renegade Economists on Mixcloud Part 2 to the Forest Park interview with Prof Michael Hudson and Tune Nielsen on the state of economic reform. This week we delve deeper into the Greek capitulation to the Troika, how to get free of the euro, the state of US democracy and other aspects to economic warfare. The underlying theme of course is how the planned obsolescence of the public interest is orchestrated. Planned Obsolescence of the Public Interest by Renegade Economists on Mixcloud

Smoke and Mirrors

By No tags Permalink

Market Crash Aug 25 2015 Smoke and Mirrors of Corporate Buybacks Behind the Market Crash,” TRNN, August 25, 2015. Michael Hudson, the author of Killing the Host: How Financial Parasites and Debt Destroy Global Economy, says the stock market crash on Monday has very little to do with China and all to do with shortermism and buybacks of corporations inflating their own stocks - August 25, 2015. SHARMINI PERIES, EXEC. PRODUCER, TRNN: This is the Real News Network. I'm Sharmini Peries coming to you from Baltimore. The Dow Jones trading took a deep drive this morning, dropping over 1,000 points in the first 20 minutes of trading. It is now slowly reversing ...

Democracy Now: China stocks over consumption

By , , , Permalink

Watch the video on the Democracy Now site Black Monday is how economists are describing Monday’s market turmoil, which saw stock prices tumble across the globe, from China to Europe to the United States. China’s stock indices fell over 8 percent on Monday and another 7 percent today. On Wall Street, the Dow Jones Industrial Average initially fell a record 1,100 points before closing down nearly 600 points. The decline also caused oil prices to plunge to their lowest levels in almost six years. To make sense of what’s really behind the fluctuations in the market, we are joined by economist Michael Hudson, president of the Institute for the Study of Long-Term Economic Trends, a Wall Street financial analyst and author ...

It’s Our Money

By Permalink

I was interviewed on Ellen Brown's radio show "It’s Our Money", where she writes: Is the financial deprivation of entire nations engendering a new level of frustration and political unrest? Are the unlikely top-ranked US presidential candidates a sign that the Europeans aren’t the only ones who want to “throw the bums out?” Ellen engages these emerging political themes in her conversation with renown author, advisor and Economics professor Michael Hudson, just back from his consultations with Greece’s Syriza party. Download the episode (right click and save)

Why Greece’s Debt is Illegal

By , Permalink

  Capitalism and Government Debt at Odds in Greece (1/2) Michael Hudson says unlike personal and corporate debt, there is no legal framework for writing off government debt, so there is deliberate anarchy in place -   July 10, 2015   SHARMINI PERIES, EXEC. PRODUCER, TRNN: Welcome to the Real News Network. I'm Sharmini Peries coming to you from Baltimore. Greece is in the situation they're in, burdened with a huge debt that they cannot pay, because there's no legal framework for writing down debt owed to the IMF, ECB, and intergovernmental bodies, writes Michael Hudson in an article he penned in Counterpunch. So where do we go from here? To answer this question, I'm joined by Michael Hudson. He's a former Wall Street economist and ...