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

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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 ...

An Overview – Welcome Words

My friend and colleague Paul Craig Roberts had this to say: For Economic Truth Turn To Michael Hudson Paul Craig Roberts Readers ask me how they can learn economics, what books to read, what university economics departments to trust. I receive so many requests that it is impossible to reply individually. Here is my answer. There is only one way to learn economics, and that is to read Michael Hudson’s books. It is not an easy task. You will need a glossary of terms. In some of Hudson’s books, if memory serves, he provides a glossary, and his recent book “J Is for Junk Economics” defines the classical economic terms that he uses. You will also need patience, because Hudson sometimes forgets in his explanations that the rest of us don’t know what he ...

“Creating Wealth” through Debt: The West’s Finance-Capitalist Road

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Michael Hudson Peking University, School of Marxist Studies May 5-6, 2018 Volumes II and III of Marx’s Capital describe how debt grows exponentially, burdening the economy with carrying charges. This overhead is subjecting today’s Western finance-capitalist economies to austerity, shrinking living standards and capital investment while increasing their cost of living and doing business. That is the main reason why they are losing their export markets and becoming de-industrialized. What policies are best suited for China to avoid this neo-rentier disease while raising living standards in a fair and efficient low-cost economy? The most pressing policy challenge is to keep down the cost of housing. Rising housing prices mean larger and larger debts extracting interest out of the economy. The strongest way to prevent this is to tax away the rise in land prices, ...

Bronze Age Redux

A GATHERING OF THE TRIBES BRONZE AGE REDUX: On Debt, Clean Slates And What The Ancients Have To Teach Us The Michael Hudson Interview by Harold Crooks for A Gathering of The Tribes Magazine.         One of the most compelling sequences in the Oscar-winning Inside Job, Charles Ferguson’s indictment of Wall Street’s role in the 2008 global financial meltdown, involved not the banker culprits but their supporting cast. These were the Ivy League accomplices. Ferguson mightily skewered these economists for the cover they gave the sub-prime Hamptons dwelling wise guys whose rescue turned out to be a pretext for one of the largest reverse-Robin Hood wealth transfers in history. Though for the foreseeable future they enjoy their tenured posts, control prestigious academic journals and continue to prey on the ...

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 ...

Ho Hum – More Trade Threats

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Does President Trump know anything about trade?    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 week's episode we talk about the so-called "trade war" developing between the United States and China.  Paul Sliker: Professor Hudson. Welcome back to The Hudson Report.  Michael Hudson: It's good to be here.  Paul Sliker: So the latest breaking news in economics... Washington vs. Beijing. Xi Jinping vs. Donald Trump. A trade confrontation between the two world's largest economies.  China recently responded to President Trump's initial threat ...