Definitions and Debate

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Welcome to the Knowledge Problem Podcast, the objective of this podcast is to engage policy professionals over thought provoking and sometimes sensitive topics. We aim to bring these professionals together in a way that does not feed the tribalistic narratives plaguing society today. It is my hope and the hope of all involved in this endeavor that by allowing these ideas to contend and challenge each other, with mutual respect, everyone who listens will learn something not previously considered. The opinions and views of all guests do not necessarily reflect the views of the Knowledge Problem or of anyone involved in this production. Regan: Hello everyone, thank you for tuning into this episode of the Knowledge Problem Podcast. I'm your host Regan Ferrell on today's episode we explore ...

Dollar Recycling and Military Encirclement

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On 22-24 November 2019, International Seminar on Land, Finance, and De-dollarization was held in Macau, China, which was co-organized by Global University for Sustainability, Lingnan University, Southwest University, and the Federal University of Espirito Santo. 20191124 Michael Hudson – Dollar Recycling and De-Dollarization 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 off 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 ...

Trump’s “Bank and Landlord Relief” bill

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The Radical Imagination: Imagining How Financial Parasites and Debt Bondage Are Destroying UsImagining How Financial Parasites and Debt Bondage Are Destroying Us   Jim Vrettos: Welcome once again to the Radical Imagination. I'm your host, Jim Vrettos. I'm a sociologist whose taught at John Jay College of Criminal Justice and Yeshiva University here in New York. Our guest today on the Radical Imagination is Michael Hudson. He was on our March 8th show. We had such an overwhelmingly positive response to that show that we've asked him to return today, and he's been gracious enough to accept. Unlike most economists, he's been a fierce champion and advocate for the economic rights of the poor, workers, disenfranchised and the vulnerable around the world through his scholarship and lifelong activism. His unique economic analysis has explored history's ...

The Use and Abuse of MMT

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By Michael Hudson, with Dirk Bezemer, Steve Keen and T.Sabri Öncü Michael Hudson is a research professor of Economics at University of Missouri, Kansas City, and a research associate at the Levy Economics Institute of Bard College. His latest book is “and forgive them their debts”: Lending, Foreclosure and Redemption from Bronze Age Finance to the Jubilee Year Dirk Bezemer is a Professor of Economics at the University of Groningen in The Netherlands.. Steve Keen is a Professor and  Distinguished Research Fellow at the Institute for Strategy, Resilience and Security of University College London (www.isrs.org.uk). He blogs at www.patreon.com/profstevekeen Sabri Öncü (sabri.oncu@gmail.com) is an economist based in İstanbul, Turkey Summary After being attacked by monetarists and others for many decades, MMT and the idea that running government budget deficit is stabilizing instead of destabilizing are suddenly gaining applause ...

NPR, cov-19 and “America is strapped”.

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Radio interview, NPR, April 2, 2020 What is the next step to prop up the virus-battered United States economy, even as the $2 trillion stimulus package only begins to percolate out? Well, Republicans and Democrats have returned to talking about a massive infrastructure building program that would employ lots of people. That would be a post-COVID-19 intervention. More immediately, some economists want more done to ease the debt owed by individuals, small businesses, cities, towns and states. Michael Hudson, a professor of economics at the University of Missouri at Kansas City and president of the Institute for the Study of Long-Term Economic Trends, is one of those economists. “Right now, America’s economy is strapped,” said Hudson, author of “…and forgive them their debts.” “America could have another economic miracle by writing down the ...

Unpayable Corporate Debt: A Brady Bond Solution for America’s Economic Crisis

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Even before the Covid-19 crisis had slashed stock prices nearly in half since it erupted in January, financial markets were in an inherently unstable condition. Years of quantitative easing had loaded so much money into stock and bond prices that stock price/earnings multiples and bond prices were far too high by any normal and reasonable historical standards. Risk premiums have disappeared, with only a few basis points separating U.S. Treasury bills and corporate bonds. The Fed’s Quantitative Easing since 2008 plus large companies using their earnings for stock buybacks drove the prices of financial assets into a realm of unreality. The result was that markets already were teetering on the brink of fragility. Any rise of normal interest to more normal conditions, or any external shock, was bound to crash the ...

Debt and Power

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https://www.youtube.com/watch?v=sJBi7sfTZuY&feature=youtu.be Transcript, recorded 20th Match 2020 Martin: Today Debt and Power. I’m Martin North from Digital Finance Analytics. Welcome to our latest post covering finance and property news with a distinctively Australian flavour. Today it is my pleasure to introduce Michael Hudson, American Economist, Professor of Economics and author of “Killing the Host” and “and Forgive Them Their Debts”. In the current environment I think those are great titles. Michael welcome. You have been following the economy and the question of debt for quite some time and I’d like to start the discussion with a simple question: How much debt is too much debt? Michael: Too much debt is when it's beyond the ability to be paid. At a certain point every debt grows beyond the ability to be paid because of the magic of ...

Corona Debt Jubilee

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Cross posted from the Washington Post. Michael Hudson, author of “… and forgive them their debts” and “Killing the Host,” is president of the Institute for the Study of Long-Term Economic Trends and is distinguished research professor of economics at the University of Missouri at Kansas City. Even before the novel coronavirus appeared, many American families were falling behind on student loans, auto loans, credit cards and other payments. America’s debt overhead was pricing its labor and industry out of world markets. A debt crisis was inevitable eventually, but covid-19 has made it immediate. Massive social distancing, with its accompanying job losses, stock dives and huge bailouts to corporations, raises the threat of a depression. But it doesn’t have to be this way. History offers us another alternative in such situations: a debt ...

Equilibrium Theory and Near East Economics

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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

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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 ...