Undermining public finance to drive privatization

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I spoke with James Ostaszewski and Alexander Reed Kelly, members of the Debt & Finance Working Group of the New York City chapter of the Democratic Socialists of America. Topics included governments, debt and my history with democratic socialists. NYC-DSA is working with New York State legislators to enable the creation of public banks throughout New York State and supports the goal of debt cancellation. The conversation took place during the afternoon of Tuesday, May 19th.

The Hard Fist of American Imperialism

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Moderate Rebels Part 2 Super Imperialism, April 2020 TRANSCRIPT - HOW THE US MAKES COUNTRIES PAY FOR ITS WARS: ECONOMICS OF AMERICAN IMPERIALISM WITH MICHAEL HUDSON | MODERATE REBELS, 24 APRIL 2020 Economist Michael Hudson explains how American imperialism has created a global free lunch, where the US makes foreign countries pay for its wars, and even their own military occupation. Max Blumenthal and Ben Norton discuss the economics of Washington’s empire, the role of the IMF and World Bank, attempts to create alternative financial systems like BRICS, and the new cold war on China and Russia. PART 2 OF 2 (Interview recorded on April 13, 2020) Part 1: “US coronavirus ‘bailout’ scam is $6 trillion giveaway to Wall St – Economist Michael Hudson explains” MICHAEL HUDSON: The World Bank has one primary aim, and that’s to ...

Another Giveaway

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TRANSCRIPT: US CORONAVIRUS 'BAILOUT' SCAM IS $6 TRILLION GIVEAWAY TO WALL ST - ECONOMIST MICHAEL HUDSON EXPLAINS 21 APRIL 2020 BY MODERATE REBELS Facing the Covid-19 pandemic, the US Congress rammed through the CARES Act — which economist Michael Hudson explains is not a “bailout” but a massive, $6 trillion giveaway to Wall Street, banks, large corporations, and stockholders.  Max Blumenthal and Ben Norton discuss the enormous financial scam with Hudson, who reveals how the economy actually works, with the Federal Reserve printing money so rich elites don’t lose their investments.  Michael Hudson, “A debt jubilee is the only way to avoid a depression,” The Washington Post, March 21, 2020 Transcript MICHAEL HUDSON: Just think of when, in the debates with Bernie Sanders during the spring, Biden and Klobuchar kept saying, ‘What we’re paying for Medicare-for-All will be ...

Due now

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An interview on Renegade Inc with Ross Ashcroft. Ross: Michael, really good to have you back on Renegade Inc. Michael Hudson: It's good to be here. Ross: Can you just give us a snapshot into what you're seeing in New York? I know that you're in quarantine at the moment. You're holed up in your bunker. Just give us an idea of what it's like over there. Michael Hudson: Well, I'm in the epicentre of the epicentre, according to the governor of New York, I'm in Queens, in Forest Hills, right next to Elmhurst, where on television they're showing lines eight hours long in the rain of people trying to get tested for Corona virus in the Elmhurst public hospital. It's a disaster area there. They show the refrigerator truck ...

Radical imagination and the intellectual edifice

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https://www.youtube.com/watch?v=dnHJBUczgE0 Radical Imagination | Imagining How the World of Finance Really Works Host Jim Vrettos interviews Professor Michael Hudson, Economist, Wall St. Analyst, Political Consultant, Commentator and Journalist; who offers his views in the way finance works and Welcome, welcome once again to the Radical imagination. I'm your host, Jim Vrettos. I'm a sociologist who's talked at John Jay College of Criminal justice and Yeshiva university here in New York. Our guest today, on the Radical Imagination, is one of only eight economists named by the financial times who foresaw the credit crisis and ensuing great recession erupting in 2008. It was conventional wisdom at the time to say that no one saw the gravity of the crisis coming, including almost every leading economist and financier in the world. In fact, many had ...

People’s Forum: Economic Lessons for 2020

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Economic Lessons for 2020: A Conversation with Dr. Michael Hudson Peoples Forum, December 12, 2019. https://youtu.be/nluLNA30e8k We are facing a crisis of poverty and economic precarity, where 140 million people are poor or low-income, the costs of living are going up and the chances of living are going down. What condition is our economy in today, more than ten years after the Great Recession of 2008, to withstand another economic downturn? What lessons have we learned – or failed to learn – over this past decade? What lessons can we draw from history to guide us in the months and years to come? On December 12, 2019, the Kairos Center hosted a talk at The People’s Forum in New York City with economist Dr. Michael Hudson on the 2008 economic crisis, what’s happened ...

The Importance of Neighborhood Banks

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An interview with Ellen Brown on Its Our Money, Show #124 Michael Hudson: There's recognition that commercial banking has become dysfunctional and that most loans by commercial banks are either against assets – in which case the lending inflates the prices of real estate, stocks and bonds – or for corporate takeover loans. The economy’s low-income brackets have not been helped by today’s financial system. Here in New York City, red lining and a visceral class hatred by high finance toward the poor characterized the major banks. From the very top to the bottom, they were very clear they were not going to lend to places with racial minorities like the Lower East Side. The Chase Manhattan Bank told me that the reason was explicitly ethnic, and they didn't ...