Recent Posts by Michael

Equilibrium Theory and Near East Economics

By No tags Permalink

An interview with acTVism Munich. Johnson Wang   Michael Hudson on the History of Debt Cancellation, Austerity in Europe, January 2020 Rees Jeannotte Hello and welcome. I'm Rees Jeannotte, and you are watching Know Your Stuff. Joining me today is economist and anthropologist Michael Hudson. He is a professor of economics at the University of Missouri, Kansas City, and an author of many books, including Killing the Host, J for Junk Economics, and his most recent “...and forgive them their debts”. Today, we'll be talking with him about his latest book ...and forgive them their debts, the eurozone crisis and the problem of ever-increasing rental and home ownership costs around the world. Professor Michael Hudson, thank you for joining us. Michael Hudson It’s good to be here. Rees Jeannotte How did ...

Democratizing Money – a discussion

By No tags Permalink

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 ...

Note to China

By No tags Permalink

My book “Super Imperialism” was about how the United States has gained a free lunch by establishing the dollar as international reserve currency by replacing gold. I also showed that the U.S. balance of payments deficit is almost entirely military related to support its 800 bases around the world. Ending the gold-exchange standard in 1971 created a situation in which the excess U.S. dollars thrown of by the U.S. payments deficit end up in foreign central banks. For these central banks, the inflow of surplus dollars poses the problem of what do we do with them. Central banks don't buy stocks and bonds, or control of corporations, because that is risky and also does not directly help their own economy. So central banks buy US Treasury bonds and bills – IOUs ...

Persian Powerplay

By No tags Permalink

Cross-posted from The Saker: Introduction: After posting Michael Hudson’s article “America Escalates its “Democratic” Oil War in the Near East” on the blog, I decided to ask Michael to reply to a few follow-up questions. Michael very kindly agreed. Please see our exchange below. Q1: Trump has been accused of not thinking forward, of not having a long-term strategy regarding the consequences of assassinating General Suleimani. Does the United States in fact have a strategy in the Near East, or is it only ad hoc? Of course American strategists will deny that the recent actions do not reflect a deliberate strategy, because their long-term strategy is so aggressive and exploitative that it would even strike the American public as being immoral and offensive if they came right out and said it. President Trump ...

America Escalates its “Democratic” Oil War in the Near East

By No tags Permalink

The mainstream media are carefully sidestepping the method behind America’s seeming madness in assassinating Islamic Revolutionary Guard general Qassim Suleimani to start the New Year. The logic behind the assassination was a long-standing application of U.S. global policy, not just a personality quirk of Donald Trump’s impulsive action. His assassination of Iranian military leader Suleimani was indeed a unilateral act of war in violation of international law, but it was a logical step in a long-standing U.S. strategy. It was explicitly authorized by the Senate in the funding bill for the Pentagon that it passed last year. The assassination was intended to escalate America’s presence in Iraq to keep control of the region’s oil reserves, and to back Saudi Arabia’s Wahabi troops (Isis, Al Quaeda in Iraq, Al Nusra and other ...

Front Running

By No tags Permalink

Transcript FRONT RUNNING: 2020 MAX KEISER: Front Running: 2020 with me, Max Keiser, and Stacy Herbert. As we look ahead to all the excitement of the 2020 elections, every episode we dig deep into something new. This time we're going to look at the wealth tax, Stacy. STACY HERBERT: That's right. We're looking at all the economic policies being presented by the Democratic candidates. Many of them are very radical. Bernie Sanders, says, "Billionaires should not exist." And to find out whether or not they should. We have guests with us. Dr. Michael Hudson, and Prof. Steve Keen. Steve, we'll start with you first. PROF STEVE KEEN: Well, I have a very complicated position on this because part of my research is into Minsky, what's called the Financial Instability Hypothesis, that explains ...

Recent Comments by Michael

    No comments by Michael yet.