Michael appears about half way through.
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Well, the problem is is the financial time frame is very short-term. It’s hit and run. They’re into making a bundle as quick as they can on one project and then go on to the next project. And they leave an economy loaded down with debt, which is what you have from the corporate takeover movement, from the hedge funds, from the leveraged buyouts.
Michael Hudson on the Greek experiment. More at The Real News The Greek crisis is being used to find out how far finance can drive down wages and privatize the public sector. Michael Hudson interviewed by Paul Jay Note: This is my editing of an interview Professor Michael Hudson gave to The Real News Network. I have edited Professor Hudson's interview for clarity and have not changed the meaning of any of his statements. It is posted on this site with Professor Hudson's permission. -- Paul Craig Roberts Transcript PAUL JAY, Senior Editor, TRNN: Welcome to The Real News Network. I'm Paul Jay in Washington. In Greece, the financial elites of Europe have received agreement from the Greek government to another round of what some people are calling savage austerity measures, for example, lowering the minimum wage by 22 percent, a new round ...
Michael appeared on KPFK's Background Briefing to discuss the recent Euro downgrades and the state of the EU. What is behind the S & P downgrades? Listen to the interview.
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