Recent Posts by Michael

Inflation – A Junk Economics Perspective

First shared via our Patreon page, where some were interested in sharing this around. The support on Patreon is really appreciated and the community we are building there is solid. Our next Q&A session for Patron plus supporters is set for June. https://www.youtube.com/watch?v=nDwOpAtnXLc Transcript from 'Inflation 2022' - A Zoom panel, organised by the International Manifesto Group. I want to talk about what inflation is not – but what the neoliberal economic mainstream wants to blame it on: on labor, on government social spending, and of course on Russia seeking to break away from America’s unipolar international economic order. Inflation is the excuse that right-wing governments have for trying to lower wage levels by blaming the inflation in rising wages. Federal Reserve chairman Paul Volcker raised interest rates to 20% in 1980 to cause ...

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The Destiny of Civilization

“The decline of the West is not necessary or historically inevitable. It is the result of choosing policies dictated by its rentier interests. … The threat posed to society by rentier interests is the great challenge of every nation today: whether its government can restrict the dynamics of finance capitalism and prevent an oligarchy from dominating the state and enriching itself by imposing austerity on labor and industry. So far, the West has not risen to this challenge.” “There are essentially two types of society: mixed economies with public checks and balances, and oligarchies that dismantle and privatize the state, taking over its monetary and credit system, the land and basic infrastructure to enrich themselves but choking the economy, not helping it grow.” …………………………………………………………………………. The Destiny of Civilization is based on a lecture ...

Calling to Account the Hereditary Warrior Class

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https://www.youtube.com/watch?v=qlUSqQ8U8T8 Transcript BENJAMIN NORTON: Hey, everyone. I’m Ben Norton, and this is the Multipolarista podcast. And I have the great pleasure of being joined today by one of my favorite guests, one of I think the most important economists in the world today. I’m speaking with Professor Michael Hudson. If you’ve seen any of the interviews I’ve done with Professor Hudson over the past few years, you probably know that he’s a brilliant analyst. He always has, I think, the best analysis to understand what’s going on economically and also politically, geopolitically, in the world today. And right now is, I think, a very important moment to have Professor Hudson on today. We’re going to talk about the economic war on Russia and the process of economic decoupling between Russia and China and the ...

Ukraine 4 Steps On

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Katie Halper podcast, April 29, 2022 TRANSCRIPT KATIE HALPER: Professor Michael Hudson, thank you so much for joining us. We're really excited to have you. We wanted to start off by asking you if you could provide an overview of what the economics driving this conflict are—and by conflict, I mean the conflict between Russia and Ukraine, and, of course, with the rest of the world, or really the conflict between Russia and US, and the economic fallout. MICHAEL HUDSON: Well, it depends on what side you’re looking at. From the Russian side, I don't think the economic factors were primary. They were threatened by NATO's expansion and really a plan to attack the Russian-speaking areas of Ukraine. So, I think Russia's calculations were simply military. ...

The Dollar Devours the Euro

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It is now clear that today’s escalation of the New Cold War was planned over a year ago. America’s plan to block Nord Stream 2 was really part of its strategy to block Western Europe (“NATO”) from seeking prosperity by mutual trade and investment with China and Russia. As President Biden and U.S. national-security reports announced, China was seen as the major enemy. This despite China’s helpful role in enabling corporate America to drive down labor’s wage rates by de-industrializing the U.S. economy in favor of Chinese industrialization, China’s growth was recognized as posing the Ultimate Terror: prosperity through socialism. Socialist industrialization always has been perceived to be the great enemy of the rentier economy that has taken over most nations in the century since World War I ended, and especially ...

China – a Sub-Imperial Ally of the West?

Hudson Bond debate PART II March 28, 2022 Is China’s Belt and Road initiative a socialist or capitalist approach to trade? Michael Hudson and Patrick Bond discuss and debate on theAnalysis.news with Paul Jay. https://www.youtube.com/watch?v=khzqxwBJ0js&feature=emb_logo TRANSCRIPT Paul Jay Hi and welcome back to theAnalysis.news, I’m Paul Jay. We’re going to continue our conversation with Patrick Bond and Michael Hudson about China. The first part, if you haven’t watched it, you probably should go back and watch it because it’s about more of the domestic situation. Now we’re going to talk about China’s international footprint and how we see it. So join us back in just a few seconds. Please don’t forget the donate button, subscribe button, ring the bell button if you’re watching on YouTube, and most important thing, get onto our email list by ...

Clearing the Fog

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March 29, 2022. Margaret Flowers: You're listening to Clearing the FOG, speaking truth to expose the forces of greed, with Margaret Flowers. And now I turn to my guest, Michael Hudson. Michael is the president of the Institute for the Study of Long-term, Economic Trends, ISLET. He's a Wall Street financial analyst and a distinguished research professor of Economics at the University of Missouri, in Kansas City. He's also the author of numerous books and recently updated his book, “Super Imperialism: The economic strategy of American Empire.” Thank you for taking time to speak with me today, Michael. Michael Hudson: Well, thanks for having me on Margaret. MF: You've talked a lot and written a lot about dollar hegemony and what's happening now with de-dollarization. Can you start out by ...

Accidental Crisis?

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NATO-Russia Proxy War: Revealing Signs of a Fading America: Scott Ritter, Michael Hudson - Global Research - Centre for Research on Globalization. GR (Michael Welch): Great privilege to speak with you again Mr. Hudson. Welcome! Michael Hudson: Thanks for having me on! GR: Now, We're seeing NATO unifying together behind the US call to sanction Russia, including removal from the SWIFT system. They're being hit with sanctions to hurt, sanctions from hell as President Biden would say, and it doesn't look as if it's working. But the sanctions are boomeranging, and hitting the EU and the US pretty hard with soaring rates for food, fertilizer, oil and gas. They seem to provoke Russian aggression. He's kind of compelled them to do that. We know it wasn't the response, I mean it’s something they ...

Putin’s Rubles

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Cross-posted from The Saker. Following Putin’s announcement about selling gas for Rubles only to hostile nations, I decided to reach out to Michael Hudson and ask him (my level, primitive) questions. Here is our full email exchange: Andrei: Russia has declared that she will only sell gas to “hostile countries” for Rubles. Which means that to non-hostile countries she will continue to sell in Dollars/Euros. Can these hostile countries still purchase gas from Russia but via third countries? Michael Hudson: There seem to be two ways for hostile countries to buy Russian gas. One seems to be to use Russian banks that are not banned from SWIFT. The other way would indeed seem to be to go through what looks to develop as a formal or informal third-country ...

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