During the interview for the documentary Real Estate 4 Ransom, Prof Michael Hudson discussed Greenspan's reputation in his formative days on Wall St, revealing a controversial 1966 incident. Transcript Why are real wages falling? MH: They’ve (wages) been going down because essentially the economy shifted radically throughout the world, starting in 1979, when Margaret Thatcher was elected Prime Minister of England and Ronald Reagan was elected President of here (The USA) … claiming to defend capital. The Reagan Bush Administration in its 12 years, quadrupled American debt by slashing taxes on the upper brackets while sharply increasing taxes on labour. They increased it largely by having Alan Greenspan create the Greenspan Commission to look at social security and pushing the myth that social security had to be funded out of pre savings, so American ...
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Fraud and Economics
Another Keiser - Hudson discussion. Michael starts about half way through in analysis of austerity, debt and fraudulent conveyance.
EU IMF'd
Lauren Lyster presses Michael Hudson on the desire for EU budget surpluses.
Austerity still?
Michael Hudson's presentation for the session "The Challenge of DeLeveraging and Overhangs of Debt II: The Politics and Economics of Restructuring" at the Institute for New Economic Thinking's (INET) Paradigm Lost Conference in Berlin. April 13, 2012.
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 ...
Functional Finance
States and cities have been convinced to lower the property tax burden and to take an income tax and a sales tax and the worst, most anti-labour, tax of all—your value added tax. Your value added tax is intruding onto the market and shrinking it and preventing you from buying the goods that you produce.
Federal Reserve System
An interview with Michael Hudson published on the Russian website Terra America (TA). What is the place of the Federal Reserve System in the American financial and economic structure? Prior to the Federal Reserve’s founding in 1913, U.S. monetary policy was conducted by the Treasury. Like the Fed, it had district sub-treasuries that performed nearly all the financial functions that the Fed later took over: providing credit to move the crops in autumn, managing government debt, and so forth. But after the severe 1907 financial crisis, a National Monetary Commission was reformed. Under the then-Republican administration, it recognized a need for more active government intervention to prevent future financial crises. It also recognized the desirability of moving away from the ...
Film: Real Estate 4 Ransom
Michael Hudson features in this 40 min documentary on the role property speculation and public finance had on this Great Recession. What role does economics itself have to blame for policy failure? More details Real Estate 4 Ransom from Real Estate 4 Ransom on Vimeo.
MMT as the Austerity Alternative
Michael appeared on Guns and Butter alongside Assoc Professor Stephanie Kelton in Rimini. Listen to the interview aired March 7th. Make sure you read Michael's piece on Our Very Oscar Night in Rimini for more background. "There IS An Alternative To European Austerity: Modern Money Theory (MMT)" with Stephanie Kelton and Michael Hudson in Rimini, Italy. Difference between sovereign and non-sovereign money; what is money; fiat money; gold standard; fixed exchange rates; the Euro; difference between central banks and commercial banks; deflation and inflation; financial war against the economy; credit supply and asset prices; bank lending and capital investment; debt deflation stage and austerity stage of finance capitalism. Show details Subscribe to Bonnie Faulkner's Guns & Butter podcast: Itunes > Advanced > Subscribe to this podcast > paste > http://kpfa.org/podcast/pod.php?show_id=34 Transcript via Media Roots GUNS AND BUTTER ...
Jobs Commentary
Michael appeared on RT news to discuss the latest unemployment figures amongst other current affairs issues.
