More at The Real News The Real News Network West looks to ramp up gas production, as Vice President Biden's son named leader in Ukrainian gas company Burisma - August 4, 2014 JESSICA DESVARIEUX, TRNN PRODUCER: Welcome to The Real News Network. I'm Jessica Desvarieux in Baltimore. And welcome to this edition of The Hudson Report. Now joining us is Michael Hudson. Michael is a distinguished research professor of economics at the University of Missouri-Kansas City. Thanks for joining us, Michael. MICHAEL HUDSON, PROF. ECONOMICS, UMKC: Good to be here, Jessica. DESVARIEUX: So, Michael, we've been covering Ukraine quite extensively. And I know you've been keeping track of ...
Anti-Russian sentiment a resource play diversion
Welcome to The Real News Network. I'm Jessica Desvarieux in Baltimore. Hundreds of pro-Russian protesters have seized public buildings in Eastern Ukrainian cities. They're demanding referendums to secede from Ukraine in order to become a part of Russia. Ukrainian officials have blamed Putin for this continued unrest, but it should be noted that Ukraine is a major transit route for natural gas exports to Europe from Russia, and now Russia is warning Ukrainian officials that they need to pay back the $2.2 billion debt owed to the Russian natural gas company Gazprom. German and French officials are also working towards a quick implementation of a $14-18 billion International Monetary Fund loan package to the Ukraine. Now joining us to discuss all of this is our guest, Michael Hudson. Michael is ...
Incorporating the Rentier Sectors into a Financial Model
by Dirk Bezemer and Michael Hudson As published in the World Economic Association's World Economic Review Vol #1. ABSTRACT Current macroeconomics ignores the roles that rent, debt and the financial sector play in shaping our economy. We discuss the Classical view on rents and policy responses to the rentier sector in the 19th century. The finance, insurance & real estate sector is today’s incarnation of the rentier sector. This paper shows how financial flows can be conceptually and statistically studied separately from (but interacting with) the real sector. We discuss finance’s interaction with government and with the international economy. 1. Introduction Now that the Bubble Economy has given way to debt deflation, the world is discovering the shortcoming of models that fail to explain how most credit creation today (1) inflates asset prices without raising ...
Geithner Turfed Out by EU Bankers
Prof Hudson appears on the Renegade Economists radio show to discuss the economic growth trap, compound interest, Sumeria, the corruption of economics and how US interests are flexing in the debate over what constitutes a CDO default in the EU. This interview was conducted just days before Greece was given another reprieve. Recorded March 7th Listen to the interview recorded March 7th. Transcription: MH: Prof Michael Hudson, Distinguished Research Professor at the University of Missouri-Kansas City. KF: Karl Fitzgerald KF: Professor Michael Hudson, welcome back to the show! Our listeners certainly appreciate your time. Can you explain to us why economic growth is necessary? MH: Well for one thing, populations grow and so you have to provide more goods and services. For another thing, people expect to have rising living standards. As long as technology is increasing ...
Film: Real Estate 4 Ransom
Michael Hudson features in this 40 min documentary on the role property speculation and public finance had on this Great Recession. What role does economics itself have to blame for policy failure? More details Real Estate 4 Ransom from Real Estate 4 Ransom on Vimeo.
Russian Ripoff
President Putin, now Prime Minister Putin, has said that the demographic effect of just privatizing Russian real estate, and industry and following western advice has lost maybe 30 million Russians from what the normal demographic growth would be to 2050. So the effect of neo-liberal financial policy has been more devastating to Russia than WW2.
The State and Local Budget Crisis
The cost of the 2011 cutbacks in federal spending will fall most directly on consumers and retirees by scaling back Social Security, Medicare, Medicaid and social spending programs. The population also will suffer indirectly, by lower federal revenue sharing with U.S. states and cities.
Russia’s Economic Interests (Part 1)
After the Soviet Union dissolved in 1991, most of its members followed the neoliberal advice of the IMF and World Bank – and the Harvard Boys – and simply turned over the most lucrative resources in the public domain (minerals and fuels, real estate, public utilities, hotels, transport systems, etc.) to well-connected individuals and those working through banks. U.S. and other Western interests then helped these individuals move their money out to the West, while selling post-Soviet enterprises and real estate.
Real Estate 4 Ransom trailer
Real Estate 4 Ransom is a new documentary on the role economic policy plays in influencing property prices. The resultant busts that have followed the speculative frenzy are a scary reminder that systematic reforms are essential. Michael Hudson features. www.realestate4ransom.com
Why America Had A 90% Income Tax
Michael is interviewed on the Real News Network. History teaches...
