Geithner Turfed Out by EU Bankers

Prof Hudson appears on the Renegade Economists radio show to discuss the economic growth trap, compound interest, Sumeria, the corruption of economics and how US interests are flexing in the debate over what constitutes a CDO default in the EU. This interview was conducted just days before Greece was given another reprieve. Recorded March 7th Listen to the interview recorded March 7th. Transcription: MH: Prof Michael Hudson, Distinguished Research Professor at the University of Missouri-Kansas City. KF: Karl Fitzgerald KF: Professor Michael Hudson, welcome back to the show! Our listeners certainly appreciate your time. Can you explain to us why economic growth is necessary? MH: Well for one thing, populations grow and so you have to provide more goods and services. For another thing, people expect to have rising living standards. As long as technology is increasing ...

Inflation and Illegal Repo Loans

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Economist Michael Hudson explains inflation crisis and Fed's secretive $4.5 trillion bank bailout. Economist Michael Hudson discusses the global inflation crisis and how the US Federal Reserve quietly (and apparently illegally) bailed out big banks in 2019 with $4.5 trillion of emergency repo loans. TRANSCRIPT BENJAMIN NORTON: Hey, everyone. This is Ben Norton, and I'm joined by a friend of the show, one of our favorite guests, Michael Hudson, the economist. His reputation precedes him; many of you probably know him. You can go to michael-hudson.com and check out his excellent articles and his books. We had him on a few months ago to talk about the new, third edition of his book “Super Imperialism: The Economic Strategy of American Empire.” And today we're going to talk about the inflation crisis around the world. In ...

The Neoliberal Exploitation Under a Super-Imperialism Lense

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https://www.youtube.com/watch?v=FH2IRYoip0E&t=1s An interview on The Zero Hour to discuss the newly-released third edition of the 1971 book, Super-Imperialism: The Economic Strategy of American Empire. ESKOW: … The premise of your book, which has just been reissued, is something that I think a lot of people nebulously grasp parts of but don't have a firm fix on. I think people, particularly people who would watch a program like this, understand that there is a deep and a symbiotic relationship between the US economy, global capital, and US influence, in what you describe as “super-imperialism.” But I think the mechanics of it are obscure to people. And it seems to me that's what your book sets about addressing. Could you just briefly give us kind of an overview of what this machinery consists of? HUDSON: Well, the ...

Surprise: Corporate Junk Before Students?

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Why is the Fed buying corporate junk bonds and debt but won’t buy out student debt? Michael Hudson on theAnalysis.news with Paul Jay. Paul Jay Hi, I’m Paul Jay. Welcome to theAnalysis.news. Thank you to everybody who has clicked the donate button. And if you haven’t, maybe you might do it this time. If you’re watching on YouTube or our website, click the share button and subscribe and we’ll be back in a second with Michael Hudson. U.S. household debt climbed to a record high of fourteen point six trillion dollars at the end of 2020 as mortgage debt surpassed 10 trillion for the first time. Now, the GDP of the United States is only around 21 trillion. Americans owe over 1.71 trillion dollars in student loan debt spread out among 44.7 million ...

Rentiers a bunch of gangsters

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Michael Hudson and Pepe Escobar discuss rent and rent-seeking, i.e., unproductive economic activity, in the US and China mainly but including the Russian, Iranian and Brazilian economies. In the first 15 minutes, an overview from Michael Hudson explains what happened in the US economy once jobs and manufacturing were offshored to mainly China.  He proposes that even if China did not exist, the US economy has been changed to the extent that it is almost impossible to change back to a productive economy without material changes in the economic model. Pepe keeps the conversation flowing quickly with incisive questions.  The two esteemed gentlemen take a look at the Chinese view on a possible Biden administration and how the military hawks in Washington could be countered.   Outlining the ‘conflict of systems’ between the ...

Holding the Bailout Bag

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A podcast with journalist Paul Jay. The Federal Reserve is directly buying stocks, bonds, junk bonds, mortgages, junk mortgages, all to prop up the value of assets owned by the top 5%. This does not spur much new production or create jobs. Michael Hudson joins Paul Jay on theAnalysis.news podcast Transcript Paul Jay Hi, my name’s Paul Jay, and welcome to theAnalysis.news podcast. Michael Hudson is a distinguished research professor of economics at the University of Missouri, Kansas City, and also a professor at Peking University in Beijing. He’s written or edited over 10 books on international finance, economic history and the history of economic thought. His newest book is J is for Junk Economics and most recently, And Forgive Them Their Debts, which Martin Wolf of the Financial Times cited as a ...

Debt and Power

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https://www.youtube.com/watch?v=sJBi7sfTZuY&feature=youtu.be Transcript, recorded 20th Match 2020 Martin: Today Debt and Power. I’m Martin North from Digital Finance Analytics. Welcome to our latest post covering finance and property news with a distinctively Australian flavour. Today it is my pleasure to introduce Michael Hudson, American Economist, Professor of Economics and author of “Killing the Host” and “and Forgive Them Their Debts”. In the current environment I think those are great titles. Michael welcome. You have been following the economy and the question of debt for quite some time and I’d like to start the discussion with a simple question: How much debt is too much debt? Michael: Too much debt is when it's beyond the ability to be paid. At a certain point every debt grows beyond the ability to be paid because of the magic of ...

The Importance of Neighborhood Banks

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An interview with Ellen Brown on Its Our Money, Show #124 Michael Hudson: There's recognition that commercial banking has become dysfunctional and that most loans by commercial banks are either against assets – in which case the lending inflates the prices of real estate, stocks and bonds – or for corporate takeover loans. The economy’s low-income brackets have not been helped by today’s financial system. Here in New York City, red lining and a visceral class hatred by high finance toward the poor characterized the major banks. From the very top to the bottom, they were very clear they were not going to lend to places with racial minorities like the Lower East Side. The Chase Manhattan Bank told me that the reason was explicitly ethnic, and they didn't ...

Democratizing Money – a discussion

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IMMR CoffeeHouse Discussion Forum # 8 Full Transcript (EDITED VERSION) Thurs. Dec. 19, 2019 Michael Hudson on how debt money has pushed the US and European economies to their financial limit. Followed by an open discussion forum. About the speaker: Michael Hudson is an economist and economic historian with a PhD from New York University. Dr. Hudson teaches at the University of Missouri–Kansas City and is associated with the Levy Economics Institute at Bard College. Dr. Hudson's main research focus is on debt, in all its variations and throughout history going as far back as Bronze Age Mesopotamia. Leading questions are how debt comes into being, when and how it creates economic and societal problems, and what measures have been adopted, or can be adopted, in order to deal with ...

Banking Deep Dive

An interview with one of the best in the business, Bonnie Faulkner (Guns and Butter). 2018 marks the 10th anniversary of the stock market crash of 2008; the current financial malaise is the result of the bank bailouts, not the crash; an over-indebted economy cannot be saved unless the banks fail; debt deflation; the magic of compound interest; how pension funds, state and local governments adversely affected by the bank bailouts; growth of the financial extraction FIRE sector (finance, insurance and real estate); quantitative easing; asset price inflation; wealth concentrated at the top in Roman antiquity led to the Dark Age; Eurozone imposition of austerity Greek style; tariffs, economic sanctions and isolationism. This is Guns and Butter. You can’t bail out the banks, leave the debts in place, and rescue the economy. ...