Here’s the quandary that the U.S. economy is in: The Fed’s quantitative easing policy– creating more liquidity so that banks can lend more – aims at helping the economy “borrow its way out of debt.” But banks are not lending more, for the simple reason that a third of U.S. real estate already is...
Posts Tagged ‘ wall st ’
That $50 Billion Infrastructure Plan
Obama’s Thatcherite Gift to the Banks As published on Counterpunch I can smell the newest giveaway looming a mile off. The Wall Street bailout, health-insurance giveaway and support of real estate prices rather than mortgage-debt write-downs were bad enough, not to mention the Oil War’s Afghan extension. But now comes a topper: the $50...
Global Financial Crisis – Inside America interview
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
Wall Street Moves In for the Kill
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...
Wall Street’s Power Grab
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...
Michael Hudson on US Economic Woes
Ross Ashcroft goes to NY for Michael’s views on the state of the US Economy
Books by Michael Hudson
