The Lehman’s Limp

By No tags Permalink

10 Years Since Lehman Brothers Bankruptcy – Did the Economy Really Recover? September 19, 2018 MARC STEINER: Welcome to The Real News Network. I’m Marc Steiner. Great to have you with us once again. On September 15, 2008, the financial meltdown began with the bankruptcy of the Lehman Brothers. That was 10 years ago. The shock waves that hit the economy threw 9 million families out of their homes who could not afford to pay their rising mortgages. So Congress and the president in the 1990s killed Glass-Steagall, written in 1933 to save us from the excesses of the financial industry. And then Congress gave us Dodd-Frank in the wake of the 2008 crisis that bailed out Wall Street, but not America. And now Trump seems to continue the process with killing Dodd-Frank ...

Life & Thought: An Autobiography

By No tags Permalink

This interview was conducted at Peking University for the Second World Conference, May 7, 2018. It was conducted by Lau Kin Chi of the Global University for Sustainability. A visual transcription is available here. I was born in Minneapolis, which is the only city in the world that was a Trotskyist city. During the 1930s it was a center of Trotskyism and my parents worked with Leon Trotsky in Mexico. When I was 3 years old my father was put in jail under the Smith Act as a political prisoner for having the works of Lenin and Marx on his shelves and for being one of the leaders of the Minneapolis general strikes from 1934 to 1936. So I grew up knowing many members of the Russian Revolution, ...

The “Next” Financial Crisis and Public Banking as the Response

By Permalink

Introduction and Transcript: In this episode of The Hudson Report, we speak with Michael Hudson about the implications of the flattening yield curve, the possibility of another global financial crisis, and public banking as an alternative to the current system. Paul Sliker: Michael Hudson welcome back to another episode of The Hudson Report. Michael Hudson: It's good to be here again. Paul Sliker: So, Michael, over the past few months the IMF has been sending warning signals about the state of the global economy. There are a bunch of different macroeconomic developments that signal we could be entering into another crisis or recession in the near future. One of those elements is the yield curve, which shows the difference between short-term and long-term borrowing rates. Investors and financial pundits of all ...

Argentina: Loans upon Loans

By No tags Permalink

Michael Hudson: Argentina’s New $50 Billion IMF Loan Is Designed to Replay its 2001 Crisis, July 23, 2018. The recently elected neoliberal government of Mauricio Macri has decided to seek a $50 billion IMF credit line, which will only enable more capital flight for the upper class and greater unpayable debt for the rest of the population, says the economist Michael Hudson. SHARMINI PERIES: It’s The Real News Network. I’m Sharmini Peries, coming to you from Baltimore. For several months now. Argentines have been taking to the streets to protest against neoliberal austerity measures of President Mauricio Macri. The most recent such protest took place on July 9 on Argentine’s Independence Day. There have also been three general strikes thus far. In the two years since he took office, President Macri has laid ...

Argentina Back on the Debt Train

By No tags Permalink

THE HUDSON REPORT: Argentina gets biggest IMF loan in history. July 9, 2018. Left Out podcast: In this episode, Paul Sliker speaks with Michael Hudson about the economic and political implications of the International Monetary Fund's $50 billion loan to Argentina, which is the largest IMF credit line in history. Find the audio here Paul Sliker: Michael Hudson welcome back to the Hudson report. Michael Hudson: It’s good to be back. Much has happened while I was away for a few weeks. Paul Sliker: Michael, Argentina recently agreed to a $50 billion loan from the International Monetary Fund. That’s the largest ever in IMF history. It is supposed to run for 36 months. Argentina began talks with the IMF last month, after three central bank rate hikes. Despite pushing borrowing costs above ...

China’s housing: It Doesn’t Have to be This Way

By Permalink

In this week's edition of The Hudson Report, Paul Sliker speaks with Michael Hudson about the state of housing in the U.S. vs. China, why unaffordable housing is not a part of true nature, and why the self-supporting class of millennials can't afford to buy homes. "Housing is a very good investment if you have millionaire parents." - Michael Hudson THE HUDSON REPORT: US vs China housing…and those millennials Paul Sliker: Michael Hudson welcome back to The Hudson Report. Michael Hudson: It's good to be back. I'm just home from China, getting over jetlag. Paul Sliker: You recently gave a paper at Peking University about the economy and what sorts of policies they should implement and what to avoid. But Michael, because we only have a short amount of time in these ...

Jesus: the economic activist

Debt Jubilee, April 26, 2018 THE HUDSON REPORT: The history of debt cancellation and Jesus's economic justice activism   Here is the direct download link. Left Out, a podcast produced by Paul Sliker, Michael Palmieri, and Dante Dallavalle, creates in-depth conversations with the most interesting political thinkers, heterodox economists, and organizers on the Left.   The Hudson Report is a new weekly series produced by Left Out with the legendary economist Michael Hudson. Every episode we cover an economic or political issue that is either being ignored—or hotly debated—that week in the press. In this episode we discuss the ancient history of debt cancellation, the untold life of Jesus as an economic justice activist, and more largely Professor Hudson's forthcoming book, "...and forgive them their debts," out in summer 2018. Michael Palmieri: Professor Michael Hudson welcome back to another episode of ...