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 Guns & Butter Podcasts
The Vocabulary of Economic Deception, #395 with Michael Hudson
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We discuss Michael Hudson’s book, J is for Junk Economics: A Guide to Reality in an Age of Deception, with an emphasis on the degradation of economic vocabulary that hides the real state of the economy; language affects peoples’ perception of reality; history of economic thought no longer taught; classical political economy focused on society’s unearned income or rent; the rentier landlord financial class; fictitious capital; the real reforms of the progressive era; classical political economists expected capitalism to evolve into socialism; classical economic concepts of value, price and rent; productive versus extractive economic sectors; public financing of infrastructure a windfall for the private sector; effects of the tax deductibility of interest; monetary policy and the Federal Reserve; economics is political – politics has always been about who is going to get what; National Income Accounting; fiscal policy and Modern Monetary Theory; the three stages of debt leveraging.

(Republished from Guns & Butter by permission of author or representative)
 
• Category: Economics 
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  1. Guns and Butter has been shut down by the censors.

    Bonnie Faulkner hosted Dr Alan Sabroski, and Sabroski touched the lethal third rail. Hw openly expressed doubts about “the holocaust”, and all Jewish rage descended on Bonnie’s head, and her program was axed.

    • Agree: Alfred
  2. Jubilee says: • Website

    Well worth the listen. The root of all other parasite-class lies and abuses starts here with their economic propaganda.

    It is a shame that so many pro-liberty people get their brains hijacked by the Mises school of economics, which is heavy deception and brainwashing.

    • Replies: @Low Voltage
  3. @Jubilee

    Yes, it’s a shame. Most people can live their entire lives and never hear one thing that is true, or if they did, they would have no way of recognizing it.

  4. You can have guns or butter but you can’t have both.

  5. Sowhat says:

    People should be in the streets with yellow vests in America (including me) but, here we sit, stairing at our monitors and saying to ourselves, “This is not good for America.” We must remember, but perhaps they are too young, that We had advance warning of what the Think-Tanks, Movers-and-Shakers, and those others that were molding the economy for future generations were doing. We did nothing. Now, the NWO is breaking out its “Here WE Arrived” banners and we have our pants down.

    Perhaps we’ll get what we deserve for our sleepiness. The Republic has morphed into an Oligarchy that funds and sustains the War on Terror narrative, funded by the same Cabal that controls our economy and has the government, according to their “Fifth Arm”, in disarray. Of course it is not as bad as they want you to believe but, with little doubt, The U.S. is just a memory and the American Dream is turning into a nightmare, people working 2-3 times as hard for a fraction of what a decent income used to be, while the cost of living increases with the incomes of the 1%.
    Perhaps it better just to endure to the end of one’s life, quietly saying to ourselves, “Well, I’m glad that I won’t be here to see the actual end of The Republic.” when it has already happened.

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