Inflation and Illegal Repo Loans

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Economist Michael Hudson explains inflation crisis and Fed's secretive $4.5 trillion bank bailout. Economist Michael Hudson discusses the global inflation crisis and how the US Federal Reserve quietly (and apparently illegally) bailed out big banks in 2019 with $4.5 trillion of emergency repo loans. TRANSCRIPT BENJAMIN NORTON: Hey, everyone. This is Ben Norton, and I'm joined by a friend of the show, one of our favorite guests, Michael Hudson, the economist. His reputation precedes him; many of you probably know him. You can go to and check out his excellent articles and his books. We had him on a few months ago to talk about the new, third edition of his book “Super Imperialism: The Economic Strategy of American Empire.” And today we're going to talk about the inflation crisis around the world. In ...

On Debt Parasites

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We're told that debt forgiveness is impossible, because all debts must be paid, and to do the opposite is to invite anarchy and chaos. But what if none of it was true? Renowned economist Michael Hudson tells Branko Marcetic on New Zealand's 1/200 podcast about the debt jubilees of the ancient world, how Jesus preached debt forgiveness, and how the finance sector has become a parasite feeding off the productive parts of the economy. Transcript Okay, welcome everyone to another episode of 1 of 200, the New Zealand and international politics podcast. I am very excited about today's episode, we have a brilliant guest. His name is Michael Hudson. He is an economist. He is a professor of economics at the University of Missouri Kansas City, and a research associate at the ...

WAPE 2021 Outline

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For the 15th World Association for Political Economy conference. 50 years ago at the New School in New York City, I taught national income accounting, using as my textbook Marx’s Theories of Surplus Value. That actually was the first history of economic thought, tracing the evolution of classical value theory. The main aim of this doctrine was to isolate economic rent as unearned income. Rent was the excess of market price over cost-value: R = P – V. Volumes II and III of Marx’s Theories of Surplus Value – and also of Capital – deal with land rent owed to Europe’s landlord class as the most important unearned income, and with interest and usury charged by the banks for their privilege of creating credit. Rent was what “landlords collected in their sleep” without working, ...

Falling into Line: Turning Endless Deficits into a Power Base

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Thanks to all our Patreon supporters, we are now up to .... 67 patrons! Please support my work. This is an important interview. Michael Hudson Interviewed on Kevin Barrett's Truth Jihad Radio, 11/15/21 Kevin Barrett: Welcome to Truth Jihad Radio, the radio show that wages the all-out struggle for truth by uncovering all sorts of interesting facts and perspectives that are normally banned, covered up, obscured, spun or otherwise messed with in the corporate controlled mainstream. Today we're going to the rather complex subject of international economics, but by way of an analysis of empire. John Perkins and Confessions of an Economic Hit Man showed us the debt dimension of empire. Our US empire is the first empire ever that runs on debt more than anything else. And if you ...

On Trotsky, on Imperialism

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On a tangent here with George Galloway. Starts from 14.30. Please support my new Patreon page. It's as good as selling books! Leon Trotsky: “Our planet is being turned into a filthy and evil-smelling imperialist barrack.” Leon Trotsky was a very famous Russian indeed. A key figure in the Bolshevik Revolution, in the foundation of the Red Army, which successfully repelled the foreign invasion of Russia which sought to overthrow it. He even found time to be the godfather of our guest Michael Hudson, Professor of Economics at the University of Missouri, Kansas City. The author of ‘Super Imperialism: The Economic Strategy of American Empire’, he joined the show to explain his theories on industrial capitalism, politics and military might.

Did the Squad give away their Bargaining Power?

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I was glad to see Ayanna Pressley make clear over the weekend what a travesty has occurred, explaining that she had to oppose the infrastructure bill because House leaders did not honor the agreement that they had made: “We have been clear from the onset that any vote on the narrow roads and bridges bill must happen in tandem with a vote on the Build Back Better Act that invests in our care economy, housing, paid leave, combating climate change, and more.” Has the Progressive Caucus lost its bargaining power by giving in to President Biden promise of “Trust Me.” Suppose that he is indeed able to get the Blue Dog/New Democrat Thatcherite “centrist” House members (mercenary lobbyists for corporate America and the One Percent) on board. But what about ...

The Unreformable Democratic Party?

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  Is This the End of the Unreformable Democratic Party? Please support my new Patreon page. I now have 46 patrons. Thank you! History has been rewritten almost daily this week, almost immediately as it occurs. A Wall Street Journal editorial on November 4 spun its view of what is at issue for the Democratic Party: “Voters warn Democrats to walk away from the Sanders-Pelosi agenda.” The Democrats’ own leadership quickly agreed with this take, playing the blame game against the Progressive Caucus for insisting on economic reforms that opinion polls have reported are precisely what voters say they want. But these are not the policies that the party’s major donors want. What really is at issue is just whom the Democratic Party (and their duopoly partners the Republicans too, of course) supports: corporate ...

Post Corona Super Stimulus

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The Case for Shifting Taxes onto Land Michael Kumhof, Nicolaus Tideman, Michael Hudson and Charles A Goodhart Abstract The post-Corona economic environment puts a premium on finding fiscal means to stimulate the economy while continuing to finance current levels of expenditures and debt. We develop and carefully calibrate a model of the US economy to show that an increase in the tax rate on the value of land, balanced by decreases in the tax rates on the incomes of capital and labor, can meet this need. We find that the US share of land in total nonfinancial assets is more than 50%, so that the tax base is very large. This is corroborated by very high quality OECD data for other industrialized economies that, almost without exception, find land shares of between 40% ...

The Tight Fist of Special Interests

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TRANSCRIPT Paul Jay Hi, I’m Paul Jay. Welcome to Please don’t forget there’s a donate button on the top of our webpage. So if you’re watching on YouTube, you could maybe come on over to and hit donate. I think there’s a link on YouTube there too. And if you’re on YouTube, you can hit the subscribe button; that would be good. Most importantly, you could share this with a few people. One of the most common comments we get is why aren’t more people watching this? It would help if there were more shares. Although a lot of people have suggested YouTube is shadow banning us, and I think it’s quite true, especially since they took down a few of our stories. And it was only after Matt Taibbi wrote ...