Negative Interest, Debt Jubilee?

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An interview with Max & Stacy on their Double Down Radio show. Click through to listen on Sputnik News. As interest rates head into negative territory and Greek debt yields less than US Treasury debt, DOUBLE DOWN asks economist and historian, Dr. Michael Hudson if any economic theory has ever suggested negative interest rates. Not since back to the Bronze Age does he recall anything like this being suggested. That’s because, for thousands of years, economic beings have chosen to hold debt jubilees. Negative rates achieve that a bit slower but they do the same thing eventually by bringing the volume of savings on the asset side of the balance sheet down to the volume of debt that can be repaid. Hudson believes rates will quickly go as negative as 25% ...

Presidential Wanna Bees

An interview on Max Keiser and Stacy Herbert's new podcast Double Down. Of the citizens of the declining Roman empire, it was said: “Give them bread and circuses and they will never revolt.” So true is this of all such citizens of declining empire that every four years American presidential wannabes even promise revolution but know that the voter will ask only for more bread, circuses and… taco bowls. Dr. Michael Hudson joins Double Down to talk about the economic reality behind the Trump voter and about whether or not, as it is claimed, Hillary Clinton is the ‘most progressive’ candidate in Democratic history. Listen here

Global Property Ponzi Policy

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I appear at the 12 minute mark. Max Keiser focuses on the global property ponzi game. The UK housing policy 'Help to Buy' - a 15% underwriting of loans under £600,000 is a technique to re-inflate land prices. A 15% rise will bail out the bad loans UK banks have made. Meanwhile the tax dodging continues globally as property speculation is ignored.