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Inflation: the End?

By Sunday, April 28, 2019 Articles No tags Permalink

"Is inflation dead?" asks the Bloomberg/BusinessWeek magazine cover. DOUBLE DOWN's Max Keiser & Stacy Herbert talk to Dr Michael Hudson, an economist and author, who laughs out loud at the notion. Inflation in asset prices has soared as witnessed in Berlin recently where tens of thousands took to the street to protest rising rents. The rise in inflation has been reflected in the rise in debt that is where it is all masked. Hudson notes that student debt, most of it unpayable, is now at over $1.5 trillion. They also discuss policies like Medicare4All now taking off amongst the younger generations saddled with all these debts. Healthcare costs also burden US employers in a way none of their competitors around the world have to deal with. So is inflation dead? ...

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Tax Resistance, Debts and Empire

By Friday, April 19, 2019 Articles No tags Permalink

I appeared at The People's Forum on this highly recommended panel. Join Dr. Michael Hudson, New Testament Scholar, Dr. Aliou Niang and Rev. Dr. Liz Theoharis, Biblical Scholar and co-chair of the Poor People’s Campaign: A National Call for Moral Revival, for a discussion on the history of debt and what it means for our context today. Moderated by Shailly Gupta Barnes and the Kairos Center for Religions, Rights and Social Justice.

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Up in Arms

By Friday, April 5, 2019 History of the Near East Permalink

The Delphic Oracle Was Their Davos: A Four-Part Interview With Michael Hudson: A New “Reality Economics” Curriculum Is Needed (Part 4) Cross-posted from Naked Capitalism By John Siman, who is also the author of Part 1, Part 2, and Part 3 in this series John Siman: I want to spell out the implications of the points that Socrates brought up, and with which you and I agree. That leaves the question facing us today: Is the American oligarchy and state as rapacious as that of Rome? Or is it universally the nature of oligarchy in any historical setting to be rapacious? And if so, where is it all leading? Michael Hudson: If Antiquity had followed the “free market” policies of modern neoliberal economics, the Near East, Greece and Rome would never have ...

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The DNA of Western civilization is financially unstable

By Thursday, April 4, 2019 History of the Near East Permalink

The Delphic Oracle Was Their Davos: A Four-Part Interview With Michael Hudson: (Part 3) Cross-posted from Naked Capitalism By John Siman, who is also the author of Part 1 and Part 2 in this series John Siman: It seems that unless there’s a Hammurabi-style “divine king” or some elected civic regulatory authority, oligarchies will arise and exploit their societies as much as they can, while trying to prevent the victimized economy from defending itself. Michael Hudson: Near Eastern rulers kept credit and land ownership subordinate to the aim of maintaining overall growth and balance. They prevented creditors from turning citizens into indebted clients obliged to work off their debts instead of serving in the military, providing corvée labor and paying crop rents or other fees to the palatial sector. JS: So looking at history ...

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Mixed economies and monopoly

By Wednesday, April 3, 2019 History of the Near East No tags Permalink

The Delphic Oracle Was Their Davos: A Four-Part Interview With Michael Hudson: Mixed Economies Today, Compared To Those Of Antiquity (Part 2) John Siman: Could you define what you mean by a mixed economy? Michael Hudson: There are many degrees of how “mixed” an economy will be — meaning in practice, how active its government sector will be in regulating markets, prices and credit, and investing in public infrastructure. In the 20th century’s Progressive Era a century ago, a “mixed economy” meant keeping natural monopolies in the public sector: transportation, the post office, education, health care, and so forth. The aim was to save the economy from monopoly rent by a either direct public ownership or government regulation to prevent price gouging by monopolies. The kind of “mixed economy” envisioned by Adam Smith, John ...

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The Delphic Oracle as their Davos

By Wednesday, April 3, 2019 Debt, History of the Near East Permalink

A Four-Part Interview With Michael Hudson About His Forthcoming Book The Collapse of Antiquity (Part 1) Cross-Posted from Naked Capitalism. By John Siman Note: Michael Hudson published … and forgive them their debts: Lending, Foreclosure, and Redemption From Bronze Age Finance to the Jubilee Year in November of last year. It is the first volume in what will be a trilogy on the long history of the tyranny of debt. I have interviewed him extensively as he writes the second volume, The Collapse of Antiquity. John Siman: Michael, in the first volume of your history of debt — "… and forgive them their debts", dealing with the Bronze Age Near East, Judaism and early Christianity — you showed how over thousands of years, going back to the invention of interest-bearing loans in Mesopotamia in ...

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Super-Imperialism at the Pentagon

By Wednesday, February 13, 2019 Interviews Permalink

picture: Tilo Gräser / Sputniknews Germany An interview on Sputnik News - January 23rd. text / interview: Alexander Boos / Sputniknews Germany Professor Hudson, in January you warned in Berlin at the Rosa Luxemburg Conference, about the still "dangerous" US financial imperialism. The US uses "financial weapons“, you said. Can you explain that briefly? After World War II, the US created the World Bank and the International Monetary Fund IMF. These instruments were created as essential control mechanisms to control other countries financially. This became particularly apparent after the US abolished its gold-standard in 1971. Since then, the US has always sought to force other states to hold their own currency reserves in US dollars. That means that those governments must then obtain the money through the US Federal Reserve. To make it ...

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Venezuela as the pivot for New Internationalism?

By Wednesday, February 6, 2019 Interviews , , Permalink

Saker interview with Michael Hudson on Venezuela, February 7, 2019 Introduction: There is a great deal of controversy about the true shape of the Venezuelan economy and whether Hugo Chavez’ and Nicholas Maduro’s reform and policies were crucial for the people of Venezuela or whether they were completely misguided and precipitated the current crises. Anybody and everybody seems to have very strong held views about this. But I don’t simply because I lack the expertise to have any such opinions. So I decided to ask one of the most respected independent economists out there, Michael Hudson, for whom I have immense respect and whose analyses (including those he co-authored with Paul Craig Roberts) seem to be the most credible and honest ones you can find. In fact, Paul Craig Roberts considers ...

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