On finance, real estate and the powers of neoliberalism
A series of lectures will be coming out of my relationship with Hong Kong's Global University of Sustainability. These have been tiered to a Chinese audience, revealing another layer to my work. Thanks for all your support via Patreon. https://www.youtube.com/watch?v=yKTEyXYJfbM Image by Владимир Харитонов from Pixabay
Discussion by Michael Hudson with Kin Chi Lau, Global University, Hong Kong, June 5, 2023 There's a big dam on the Dnieper River that supplies all of the water to Crimea and they blow it up. Thousands of homes have been flooded. Naturally, the Ukrainians said the Russians did it. The reason that Crimea was assigned to Ukraine by Khrushchev in the 1960s was because the water and electricity area all came from the dam in the north of Crimea. All of that was blown up and flooded. When you blow up a dam, imagine that was happening in China and how that would be blown up. That's what happened. They blew it up. The dam on the Dnieper River that supplies water as well as electricity to Crimea was blown ...
Michael Hudson | A piece of advice: Buying U.S. debt is to provide ammunition for U.S. military expansion Source: Observer Network 2023-06-01 08:01 The June 5 deadline referred by US Treasury Secretary Janet Yellen has fallen, and the US debt ceiling negotiations have entered the final congressional voting juncture. House Speaker McCarthy, who was eager to reach an agreement with President Biden, faced the threat of being kicked out because the far right of the Republican Party was dissatisfied with the negotiating plan with too many compromises. In the heated stage of debt ceiling negotiations, how do Americans view this partisanship and the snowballing expansion of U.S. debt behind the partisanship? The current crisis in Ukraine is still stalemate. The United States and its allies have joined forces to contain China. As the second ...
https://www.youtube.com/watch?v=zrv9-ZX3nqU&list=PLt-M8o1W_GdRfyjbZ2a0O1jKa_Ve35C52&index=3 1.(BOAO FORUM) For starters, this year’s Boao Forum undoubtedly brings great opportunities for exchanges between Chinese and foreign business people who may not have been able to meet since the outbreak of the pandemic. So what can we expect from such a good opportunity? And how do you think the Boao Forum could help or guide us in global economic recovery after the COVID pandemic? There are many perspectives on what are the most serious problems facing China and the rest of the world today. Even if you don’t agree on the diagnosis of some people, you at least need ...
Through my work at the Global University for Sustainability, I have come to know Professor Wen Tiejun. He provides a key analysis of the ten crises China has endured. I highly recommend his book to you (PDF), kindly donated to the reform community as an open access book. There are 10 lectures that accompany the book (below). Professor Tiejun and I also participated in a joint discussion you may enjoy. https://www.youtube.com/watch?v=fIeS72tf6aw https://our-global-u.org/oguorg/en/series-no-5-chinas-real-experiences-professor-wen-tiejun-on-ten-cyclical-economic-crises-in-china-1949-2016/
Hudson Bond debate PART II March 28, 2022 Is China’s Belt and Road initiative a socialist or capitalist approach to trade? Michael Hudson and Patrick Bond discuss and debate on theAnalysis.news with Paul Jay. https://www.youtube.com/watch?v=khzqxwBJ0js&feature=emb_logo TRANSCRIPT Paul Jay Hi and welcome back to theAnalysis.news, I’m Paul Jay. We’re going to continue our conversation with Patrick Bond and Michael Hudson about China. The first part, if you haven’t watched it, you probably should go back and watch it because it’s about more of the domestic situation. Now we’re going to talk about China’s international footprint and how we see it. So join us back in just a few seconds. Please don’t forget the donate button, subscribe button, ring the bell button if you’re watching on YouTube, and most important thing, get onto our email list by ...
Paul Jay Hi, welcome to theAnalysis.news, I’m Paul Jay. We’re going to talk about China. We’re going to have two guests who agree on so many things, but they have some disagreements about just what is the character of China, and we’re going to get into that. Please don’t forget the donate button. We can’t do this if you don’t donate. If you’re watching on YouTube, subscribe and also hit that little bell thing, so you know when something new comes. Although part of YouTube suppressing our stories. We’ve been hearing from viewers that even though they have the bell, they’re still not getting the notifications. If that’s the case, let me know. The most important thing is get to the website, sign up for our email list, and we will be back in just a ...
Nearly half a millennium ago Niccolo Machiavelli’s The Prince described three options for how a conquering power might treat states that it defeated in war but that “have been accustomed to live under their own laws and in freedom: … the first is to ruin them, the next is to reside there in person, the third is to permit them to live under their own laws, drawing a tribute, and establishing within it an oligarchy which will keep it friendly to you.” Machiavelli preferred the first option, citing Rome’s destruction of Carthage. That is what the United States did to Iraq and Libya after 2001. But in today’s New Cold War the mode of destruction is largely economic, via trade and financial sanctions such as the United States has imposed on China, ...
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 ...
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, ...
