The Unz Review: An Alternative Media Selection
A Collection of Interesting, Important, and Controversial Perspectives Largely Excluded from the American Mainstream Media
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2017 compared to 1917
Socialism flowered in the 19th century as a program to reform capitalism by raising labor’s status an
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The Eurozone today is going into the same deflationary situation that the U.S. did under Jackson’s destruction of the Second Bank, and the post-Civil War budget surpluses that deflated the economy. But whereas the Fed’s creation was designed to inflate the U.S. economy, Europe’s European Central Bank is designed to deflate it — in the... Read More
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Watch the video on
I was interviewed on Ellen Brown’s radio show “It’s Our Money”, where she writes:
Please click on the following link to hear my latest radio interview. Partial Transcript Justin Ritchie: “There’s a lot of people on the left and the right who are becoming increasingly critical of Quantitative Easing and the question we have is how does it work? What does it mean that the US Federal Reserve is... Read More
Prime Interest Interview
Failed Privatizations – the Thatcher Legacy
By Michael Hudson, a research professor of Economics at University of Missouri, Kansas City, and a research associate at the Levy Economics Institute of Bard College. His latest book is
A Model for Europe and the US?
A generation ago the Chicago Boys and their financial supporters applauded General Pinochet’s anti-labor Chile as a success story, thanks mainly to its transformation of their Social Security into Employee Stock Ownership Plans (ESOPs) that almost universally were looted by the employer grupos by the end of the 1970s. In the last decade, the Bush... Read More
This interview with Profs. Hudson, Bill Black and Randy Wray at UMKC describes how the U.S. Financial sector has become criminalized, and describes how the economy will continue to shrink sharply after the November presidential election.
Below are the transcripts from the film
Europe’s three needs: a debt write-down, a real central bank, and a more efficient tax system
Brussels Talk, Madariaga College,
This is a re-working of my second talk at the Rimini MMT conference, as
Hudson on the plan for the 1% to monopolise Main Street through concentration of ownership AKA asset grabs. 73,000 views in 2 days.
Hudson giving an overview of current affairs with a fired up Lauren Lyster fresh back from Davos.
As first published in Frankfurter Allgemeine Zeitung The easiest way to understand Europe’s financial crisis is to look at the solutions being proposed to resolve it. They are a banker’s dream, a grab bag of giveaways that few voters would be likely to approve in a democratic referendum. Bank strategists learned not to risk submitting... Read More
Has the Link been Broken?
*This article appeared in the Frankfurter Algemeine Zeitung on December 5, 2011. Book V of Aristotle’s Politics describes the eternal transition of oligarchies making themselves into hereditary aristocracies – which end up being overthrown by tyrants or develop internal rivalries as some families decide to “take the multitude into their camp” and usher in democracy,... Read More
The New Bank Disaster Olafur Arnarson, Michael Hudson and Gunnar Tomasson* The problem of bank loans gone bad, especially those with government-guarantees such as U.S. student loans and Fannie Mae mortgages, has thrown into question just what should be a “fair value” for these debt obligations. Should “fair value” reflect what debtors can pay –... Read More
NY Times, August 11, 2011
Michael on the Download the Hudson only portion of the interview
Free money creation to bail out America’s elite financial speculators, but not for Social Security or Medicare. Only...
Financial crashes were well understood for a hundred years after they became a normal financial phenomenon in the mid-19th century. Much like the buildup of plaque deposits in human veins and arteries, an accumulation of debt gained momentum exponentially until the economy crashed, wiping out bad debts – along with savings on the other side... Read More
How Bankers are using the Debt Crisis to welcome in the Financial Road to Serfdom
Financial strategists do not intend to let today’s debt crisis go to waste. Foreclosure time has arrived. That means revolution – or more accurately, a counter-revolution to roll back the 20th century’s gains made by social democracy: pensions and social security, public health care and other infrastructure providing essential services at subsidized prices or for... Read More
Will Greece Let EU Central Bankers Run Riot Over Sovereignty?
When Greece exchanged its drachma for the euro in 2000, most voters were all for joining the Eurozone. Their hope was that it would ensure stability, and that this would promote rising wages and living standards. Few saw that the stumbling point was tax policy. Greece was excluded from the eurozone the previous year as... Read More
Replacing Economic Democracy with Financial Oligarchy
“But if a country is still not delivering, I think all would agree that the second stage has to be different. Would it go too far if we envisaged, at this second stage, giving euro area authorities a much deeper and authoritative say in the formation of the country’s economic policies if these go harmfully... Read More
A landmark fight is occurring this Saturday, April 9. Icelanders will vote on whether to subject their economy to decades of poverty, bankruptcy and emigration of their work force. At least, that is the program supported by the existing Social Democratic-Green coalition government in urging a “Yes” vote on the Icesave bailout. Their financial surrender... Read More
What does Norway get out of its Oil Fund, if not More Strategic Infrastructure Investment? For the past generation Norway has supplied Europe and other regions with oil, taking payment in euros or dollars. It then sends nearly all this foreign exchange abroad, sequestering its oil-export receipts – which are in foreign currency – in... Read More
Debt Defaults, Austerity, and Death of the “Social Europe” Model
A spectre is haunting Europe: the illusion that Latvia’s financial and fiscal austerity is a model for other countries to emulate. Bankers and the financial press are asking governments from Greece to Ireland and now Spain as well: “Why can’t you be like Latvia and sacrifice your economy to pay the debts that you ran... Read More
Why Government is More Afraid of Debt than Depression
Part One of this discussion was published in
Michael gave this presentation at the AMI conference recently. You can watch it in 5 parts on youtube via
An Interview with Dr. Michael Hudson
October 21, 2010 Interviewer:
The Angelides Committee Sidesteps the Mortgage Fraud Issue
What is the difference between today’s economy and Lehman Brothers just before it collapsed in September 2008? Should Lehman, the economy, Wall Street – or none of the above – be bailed out of bad mortgage debt? How did the Fed and Treasury decide which Wall Street firms to save – and how do they... Read More
Global Policy Trends in a Financialised Economy – Federal Parliament’s Vital issues seminar. This speech can be heard here.
An Interview with Economist Michael Hudson for