Scamming Social Security

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Susan Weissman interviews Michael Hudson Susan Weissman, an editor of Against the Current, interviewed author Michael Hudson this past April on her program “Beneath the Surface” on radio station KPFK, Pacifica in Los Angeles. Many thanks to Walter Tanner for transcribing. The following is an abridged and edited text of the interview. SUSAN WEISSMAN: MICHAEL Hudson, in the lead article in the April issue of Harpers magazine, says “The one sure mark of a con is the promise of free money.” Michael Hudson is a Distinguished Professor of Economics at the University of Missouri in Kansas City, and the author of many books on international and domestic finance, including Superimperialism: The Origin and Fundamentals of U.S. World Dominance, published by Pluto Press and reviewed right here on this program. Michael, the April Harpers ...

Why the “Miracle of Compound Interest” leads to Financial Crises

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Oslo conference, “Financial Crises in Capitalism”, Aug. 27, 2007 I first met Erik Reinert in 1994 at an economic history conference in Germany, and have been a member of his Reality Economics group since its founding. Erik Reinert’s Reality Economics group has revived the awareness of economists whose names have disappeared from most histories of economic thought, even as many schools have dropped courses in that topic itself. Most students only are taught today’s mainstream orthodoxy, not being informed of the equally long history of another canon – one that turns out to be more helpful in explaining economic history and today’s dynamics. Looking at today’s global economy, the obvious question to ask is why more economies haven’t achieved the technological potential reached by North America and Europe. Given the fact that ...

America: Host or Parasite?

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America: Host or Parasite? in Guns and Butter, KPFA "We discuss the US balance of payments trade deficit which creates US credit to finance the US national debt and war abroad; Russian economic shock therapy as the final stage of the cold war; the real estate bubble; permanent war and the inevitable collapse of the current US dominated global economic system."