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 Michael Hudson Archives

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Michael Hudson Interviewed on Kevin Barrett’s Truth Jihad Radio, 11/15/21 Kevin Barrett: Welcome to Truth Jihad Radio, the radio show that wages the all-out struggle for truth by uncovering all sorts of interesting facts and perspectives that are normally banned, covered up, obscured, spun or otherwise messed with in the corporate controlled mainstream. Today we’re... Read More
A Total-Returns Profile of Economic Polarization in America
Based on work with Dirk Bezemer, with charts by Howard Reed Polarization in America, 23 September 2019 Those who praise the post-2008 economy as a successful recovery point to the fact that the stock market has soared to all-time highs, while the unemployment rate has fallen to a decade-low. But is the stock market a... Read More
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These proverbs were collected by my father, Carlos Hudson, during the time he was jailed under the Smith Act in 1941, ostensibly for “Advocating the overthrow of the government by force and violence,” It was called the “gag act” because it put a gag on what one could read or say. Guilt was determined by... Read More
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As published in Harper’s Magazine. Let’s start with your 2006 Harper’s article. What did you see happening at that point? It was very clear that more and more of everybody’s income had to go to buying a
Michael Hudson explains that the Senate hearings on Russia are an effort by Democrats to torpedo improvements in Russia-US relations and lack any real evidence of Russian meddling. KIM BROWN: Welcome to The Real News Network in Baltimore. I’m Kim Brown. On Thursday, the Senate Intelligence Committee held its first hearing, as part of an... Read More
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SHARMINI PERIES: Welcome back to The Real News Network. I’m speaking with Michael Hudson, the author of, J is for Junk Economics, a Guide to Reality in the Age of Deception. Don’t miss it. We’re going to be talking about this book, and some of the misleading concepts that are out there, in terms of... Read More
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Finance as Warfare: The IMF Lent to Greece Knowing It Could Never Pay Back Debt
SHARMINI PERIES: The latest economic indicator showed that the Greek economy shrank by 0.4% in the last three months of 2016. This poses a real problem for Greece, because its lenders are expecting it to grow by 3.5% annually, to enable it to pay back on its bailout loan. Greece is scheduled to make a... Read More
Trump Ghost Town Inauguration
SHARMINI PERIES: It’s The Real News Network. I’m Sharmini Peries, coming to you from Baltimore. While protestors and police are clashing on the inaugural parade route in Washington, D.C., the newly sworn-in President of the United States is lunching with the establishment in Washington — Some of the very people he called out in his... Read More
Credit: Michael-Hudson.com
Simon Patten recalled in 1912 that his generation of American economists – most of whom studied in Germany in the 1870s – were taught that John Stuart Mill’s 1848 Principles of Political Economy was the high-water mark of classical thought, and nationalizing monopolies or regulating their prices to reflect actual production costs. However, Patten added,... Read More
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From: The Journal of Economic Issues, Vol. L No. 3, September 2016 Abstract: Conflation of real capital with finance capital is at the heart of current misunderstandings of economic crisis and recession. We ground this distinction in the classical analysis of rent and the difference between productive and unproductive credit. We then apply it to... Read More
“US-NATO Border Confrontation with Russia Risks Nuclear War and Loss of European Partner,” The Real News Network, July 17, 2017 Michael Hudson says that the US-led confrontational approach of NATO with Russia is driving European countries to consider disbanding or leaving the military alliance due to increased security risks. JESSICA DESVARIEUX, TRNN: Welcome to the... Read More
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“Is the Real Scandal the Clinton Foundation?,” TRNN, July 8, 2016. Michael Hudson says the media has failed to look beyond the emails and into potential conflicts of interest during Hillary Clinton’s tenure as Secretary of State. PAUL JAY, TRNN: Welcome to the Real News Network. I’m Paul Jay. On Thursday morning, the media fest... Read More
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Neoliberal policy will pressure U.S. citizens to emigrate, just as it caused millions to leave Russia, the Baltic...
A research team from Columbia University’s Mailman School of Public Health in New York estimates 875,000 deaths in the United States in year 2000 could be attributed to social factors related to poverty and income inequality. According to U.S. government statistics, 2.45 million Americans died in the same year. When compared to the Columbia research... Read More
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GORDON LONG: Thank you for joining us. I’m Gordon Long with the Financial Repression Authority. It’s my pleasure to have with me today Dr. Michael Hudson Professor Hudson’s very well known in terms of the FIRE economy to—I think, to a lot of our listeners, or at least he’s recognized by many as fostering that... Read More
Panama money laundering 2016
“Closing Panama Tax Haven Will Require Fighting the Most Powerful Lobby In the World,” The Real News Network, April 14, 2016. Economist Michael Hudson says oil and mining industries and the State Department created Panama and Liberia for the express purpose of tax evasion. Sharmini Peries coming to you from Baltimore. Within a week the... Read More
AISAL NOOR, TRNN: Welcome to the Real News Network. I’m Jaisal Noor in Baltimore. It’s been a tough week for Senator Bernie Sanders on the campaign trail, despite his big win in Wisconsin on Tuesday, because it’s been marked by fierce attacks on his economic plans. On Friday, New York Times’ Paul Krugman pinned a... Read More
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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
Suppose a country owes money to another nation’s government or official agency. How can creditors collect, unless there’s an international court and an enforcement system? The IMF and the World Bank were part of that enforcement system and now they’re saying: ‘We’re not going to be part of that anymore. We’re only working for the... Read More
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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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These remarks were made at the World Congress on Marxism, 2015, at the School of Marxism, Peking University, October 10, 2015. The presentation was part of a debate with Bertell Ollman (NYU). I was honored to be made a permanent Guest Professor at China’s most prestigious university. When I lectured here at the Marxist School... Read More
The first of hopefully many book reviews. Thanks to those who have already reviewed it on Amazon, we are off to a good start. Pam Martens from Wall St On Parade writes: The riveting writer, Michael Hudson, has read our collective minds and the simmering anger in our hearts. Millions of American have long suspected... Read More
Another in the series of interviews on the Renegade Economists radio show, with Tune Nielsen (Positive Money Denmark, Gode Penge ) and host Karl Fitzgerald.
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Watch the video on the Democracy Now site Black Monday is how economists are describing Monday’s market turmoil, which saw stock prices tumble across the globe, from China to Europe to the United States. China’s stock indices fell over 8 percent on Monday and another 7 percent today. On Wall Street, the Dow Jones Industrial... Read More
Smoke and Mirrors of Corporate Buybacks Behind the Market Crash,” TRNN, August 25, 2015.
I was interviewed on Ellen Brown’s radio show “It’s Our Money”, where she writes: Download the episode (right click and save)
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Greece Rejects the Troika. Where Do We Go From Here?
Just after 7 PM Greek time on Sunday, I was told that the “No” vote (Gk. Oxi) was winning approximately 60/40. The “opinion polls” showing a dead heat evidently were wrong. Bookies across Europe are reported to be losing their shirts for betting that the financial right wing could fool most Greeks into voting against... Read More
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Back in January upon coming into office, Syriza probably could not have won a referendum on whether to pay or not to pay. It didn’t have a full parliamentary majority, and had to rely on a nationalist party for Tsipras to become prime minister. (That party balked at cutting back Greek military spending, which was... Read More
A presentation at the Delphi Initiative.
JESSICA DESVARIEUX, PRODUCER, TRNN: Welcome to The Real News Network. I’m Jessica Desvarieux in Baltimore. So the big question in the world of economics is whether or not the Federal Reserve will raise interest rates and end their bond buying program known as quantitative easing. Chair Janet Yellen will give a quarterly economic and interest... Read More
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The Saker Interviews Michael Hudson
Cross-posted from The Saker The Saker: We hear that the Ukraine will have to declare a default, but that it will probably be a “technical” default as opposed to an official one. Some say that the decision of the Rada to allow Iatseniuk to chose whom to pay is already such a “technical default”. Is... Read More
Ukraine Is In Crisis. Here’s Why the West Can’t Save It.
cross posted from The Nation A video roundtable explains why the IMF, Europe, and Western corporations don’t have the country’s best interests at heart.
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SHARMINI PERIES, EXEC. PRODUCER, TRNN: Welcome to the Michael Hudson Report on The Real News Network. I’m Sharmini Peries coming to you from Baltimore. The Euro is slipping against the dollar, and the European financial markets are in flux, expecting Greece to fail on its 1.6 billion Euro repayment due to the International Monetary Fund... Read More
Ukraine’s collapse since the February 2014 coup has become an umbrella for grabitization. Collateral damage in this free-for-all has been labor. Many workers are simply not getting paid, and what they actually is being paid is often illegally low. Employers are taking whatever money is in their business accounts and squirreling it away – preferably... Read More
The updated edition of THE BUBBLE AND BEYOND, a chronicle of the on-going post-2008 financial collapse, is now available. It makes plain where money goes versus where it might go – and ought to go. Included: A NEW INDEX, a LIST OF 47 EXHIBITS (illustrations, charts, graphs and models), a BONUS CHAPTER and a BONUS... Read More
Parts W – Z in the Insider’s Economic Dictionary War: Economically, the major cause of national debt and inflation, and often of postwar deflations. Politically, war serves as an excuse to centralize control of government in the hands of the few, and in the Executive Branch of government. Washington Consensus: The neoliberal “conditionalities” imposed on... Read More
“Quantitative Easing for Whom? TRNN, March 11, 2015. The European Central Bank’s trillion euro plan will only help keep the banks afloat. SHARMINI PERIES, EXEC. PRODUCER, TRNN: Welcome to The Real News Network. I’m Sharmini Peries, coming to you from Baltimore. In an effort to relieve some pressure on the struggling European economies, Mario Draghi,... Read More
Parts U-V in the Insider’s Economic Dictionary Underdevelopment: The term coined by Andre Gunder Frank to describe the policies which former European colonies and more contemporary third-world countries have been turned into indebted raw-materials exporters rather than balanced economies capable of feeding themselves. (See World System.) Unearned income: See Free Lunch. Unexpected. Whenever bad economic... Read More
Part T in the Insider’s Economic Dictionary Tableau Économique: The first formal national-income account, developed by the Physiocrat Francois Quesnay on the analogy of the circulation of blood within the human body. (See Economist, Say’s Law.) Taxation: The way in which a government gives value to money by accepting it in payment of taxes or... Read More
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The Russian loan and the IMF’s One-Two Punch How much of Ukraine’s budget will be spent on arms? Germany and France made it clear that they oppose further U.S. military adventurism in Ukraine, and also oppose NATO membership. But will Germany follow through on its threat to impose sanctions on Kiev in order to stop... Read More
Truthdig summarises the interview as: Oxfam reports that just 80 people possess the same quantity of wealth as 3.5 billion others. On RT’s Crosstalk, economist Michael Hudson discusses how this happened with Oxfam official Max Lawson and Richard Wellings at London’s Institute for Economic Affairs. Hudson begins, “According to every economics textbook and all the... Read More
PastClassics
The JFK Assassination and the 9/11 Attacks?
Analyzing the History of a Controversial Movement