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CHRIS HEDGES: Hi, I’m Chris Hedges. Welcome to Days of Revolt. Today we’re going to carry out part two of my discussion about where we’re headed economically, with economist Michael Hudson. He’s worked on Wall Street, taught economics, and is the author of Killing the Host: How Financial Parasites and Debt Destroy the Global Economy.... Read More
Why the Fed's Consumer Credit Report is Rotten to the Core
If you really want to know what's going on with the economy, you should take a look at the Fed's Consumer Credit Report that was released on Thursday. Yes, it's a real snoozer, but it does reveal the truth behind all the "recovery" hype. So, let's cut to the chase: When unemployment is high and... Read More
Sitting on Top of $1.9 Trillion
Two and a half years have passed since Lehman Brothers collapsed and US consumers are still digging out. Last Thursday, the Fed released its "flow of funds" report which showed that households had trimmed their debt to $13.3 trillion in the forth quarter (4Q). But the crucial debt-to-income ratio remains significantly above trend at 120.9%.... Read More
No Light in the Tunnel
On Monday, the Federal Reserve released its Consumer Credit Report which showed that consumer credit increased at an annual rate of 2.5% in January. That might sound like good news, but there's more here than meets the eye. Non-revolving credit increased at a rate of 7% per anum, while revolving credit decreased at an annual... Read More
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PastClassics
The unspoken statistical reality of urban crime over the last quarter century.
The “war hero” candidate buried information about POWs left behind in Vietnam.
The major media overlooked Communist spies and Madoff’s fraud. What are they missing today?
What Was John McCain's True Wartime Record in Vietnam?