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destinyhudson
Transcript
ERIC DRAITSER: Hello and welcome to CounterPunch Radio. My name is Eric Draitser, thanks so much for tuning in, and coming back to the show. First-time listeners finding the show, welcome aboard. Thank you so much, we really appreciate your support. If you want to support CounterPunch, the best way to do that is to... Read More
Rather than making money harder to get, the U.S. government needs to focus on the other side of the demand vs. supply equation. In prescribing cures for inflation, economists rely on the diagnosis of Nobel laureate Milton Friedman: inflation is always and everywhere a monetary phenomenon—too much money chasing too few goods. But that equation... Read More
Finance Capitalism’s Self-Destructive Nature
Transcript of Interview on The Left Lens with Danny Haiphong May 25th, 2022 DANNY HAIPHONG: Good afternoon, everyone. Happy Wednesday, May 25th, welcome to the stream, to another left lens. Today we have a very special guest so as you’re coming in make sure you are liking the stream sharing it, make sure that you... Read More
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Why it lacks resilience, and What will take its place
Paper presented on July 11, 2022 to The Ninth South-South Forum on Sustainability. THE COLLAPSE OF MODERN CIVILIZATION AND THE FUTURE OF HUMANITY. The greatest challenge facing societies has always been how to conduct trade and credit without letting merchants and creditors make money by exploiting their customers and debtors. All antiquity recognized that the... Read More
Credit: Jesse\
The media would like to believe the Fed is doing everything in its power to fight inflation, but it's not true. Yes, the Fed raised rates by 50 basis points in May and, yes, the Fed is trying to sound as "hawkish" as possible. But these things are designed to dupe the public not to... Read More
Instead of buying into the World Economic Forum’s dystopian “Great Reset,” we can build an alternative system with a mandate to serve the people. This is part two to a May 4, 2022 article called “A Monetary Reset Where the Rich Don’t Own Everything,” the gist of which was that national and global debt levels... Read More
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Interview with economist Paul Craig Roberts
Question 1-- Do you agree that the motive behind Washington's sanctions on Russia is to bring the country to its knees, remove it as a competitive rival to the US in Central Asia, and force Putin from office? Paul Craig Roberts-- Possibly. Washington is sufficiently stupid to think this. For the sanctions to have deleterious... Read More
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Ben Norton, Inflation and banking 2022 Economist Michael Hudson discusses the global inflation crisis and how the US Federal Reserve quietly (and apparently illegally) bailed out big banks in 2019 with $4.5 trillion of emergency repo oans Reproduced with the permission of Michael Hudson. I interviewed economist Michael Hudson to discuss what is causing the... Read More
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Stoking the Fire Without Burning Down the Barn
The Fed has options for countering the record inflation the U.S. is facing that are more productive and less risky than raising interest rates. The Federal Reserve is caught between a rock and a hard place. Inflation grew by 6.8% in November, the fastest in 40 years, a trend the Fed has now acknowledged is... Read More
Economist Michael Hudson discusses the update of his book “Super Imperialism: The Economic Strategy of American Empire” and the financial motivations behind the US new cold war on China and Russia. Economist Michael Hudson has published a new, third edition of his book Super Imperialism that updates his analysis for the 21st century, discussing the... Read More
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The crisis of 2020 has created the greatest wealth gap in history. The middle class, capitalism and democracy are all under threat. What went wrong and what can be done? In a matter of decades, the United States has gone from a largely benign form of capitalism to a neo-feudal form that has created an... Read More
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Indicators of the Coming American Collapse
This is the third book by Andrei Martyanov that I am reviewing, the first one was “Book Review - Losing Military Supremacy: the Myopia of American Strategic Planning by Andrei Martyanov”, while the second one was “Book Review: Andrei Martyanov's The (Real) Revolution in Military Affairs”. I also interviewed Andrei about this second volume here.... Read More
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I Know You’re Lying…but I Trust You with My Life!
Investing trust in the wrong people and policies can be ruinous. How much dishonesty does it take before the public stops putting blind faith in debt dealers, corporate crooks and the servile politicians who do their bidding? The widespread acceptance of ‘healthy’ inflation, monopoly patent rights, the ‘retirement’ trap and enslaving corporate ‘benefits’ would suggest... Read More
A deep dive into the manipulation of money and consciousness by the powers that control our daily lives
Archon (Gnosticism) ... any of a number of world-governing powers... In the last decade we have seen an exponential change in the manipulation of basic human instincts through a technological and societal shift often referred to as the Fourth Industrial Revolution. Everything we do, from sex, dating and purchases to political affiliations and how we... Read More
People want to know where the economy is headed. What they should be asking is does the US still have an economy? My answer is no, it doesn’t. I will explain why. For a quarter century I have pointed out the destructive effect of moving American investment and jobs to China and other points abroad.... Read More
Vrettos: 1. We're waiting to see how the rhetoric of the new Biden administration will play out in actual policies. Hudson: Biden’s long political career has been right-wing. He’s the senator from Delaware, the country’s most pro-corporate state – which is why most U.S. corporations are incorporated there. As such, he represents the banking and... Read More
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Presentation at the Oxford Economics Society
Oscar Brisset: Welcome to the first event of the Oxford Economics Society for this academic year. I’m Oscar, the Co-President of our society, and I’m glad to welcome you back for another term of exciting discussions. Although we were hoping last term to be back in-person by January, due to the worsening Covid-19 situation in... Read More
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The rentier resurgence and takeover
Summary[1a] Marx and many of his less radical contemporary reformers saw the historical role of industrial capitalism as being to clear away the legacy of feudalism – the landlords, bankers and monopolists extracting economic rent without producing real value. But that reform movement failed. Today, the Finance, Insurance and Real Estate (FIRE) sector has regained... Read More
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In his Culture of Critique trilogy Kevin MacDonald shows how many Jewish intellectual movements have developed a culture of critique that undermines those ideas and values that protect White group interests and cohesion. These Jewish intellectual movements include the Frankfurt School (philosophy, sociology), Boazian anthropology, Freudian psychoanalysis, the New York Intellectuals (literature), Marxism and even... Read More
High-ended retailer Saks Fifth Avenue added private security, fencing and barbed wire ahead of a Black Lives Matter protest in New York, June 7. 2020. (Anthony Quintano, CC BY 2.0, Wikimedia Commons)
Michael Hudson and Pepe Escobar last month took a hard look at rent and rent-seeking at the Henry George School of Social Science. Michael Hudson: Well, I’m honored to be here on the same show with Pepe and discuss our mutual concern. And I think you have to frame the whole issue that China is... Read More
Ross Welcome to Renegade Inc. However you look at it, 2020 was a train wreck. So as we look forward to 2021, we wanted to get political and economic insight from two friends of the show. Chris Williamson and Michael Hudson share their views on what we can look out for in the new year.... Read More
Allied with landlords and monopolists, the finance sector is extracting economic rents from the economy that’s impoverishing US government, industry and labor says Michael Hudson discussing the chokehold of pro-finance, pro-rentier capitalism reaching into the present COVID-19 crisis. TRANSCRIPT LYNN FRIES: Hello and welcome. I’m Lynn Fries producer of Global Political Economy or GPEnewsdocs. I... Read More
A Conversation with Michael Hudson and Pepe Escobar
Alanna: So, let’s formally start. Once we start to record Ibrahim is going to introduce the Henry George school and welcome everybody then I’m going to introduce from the bios; Michael and Pepe and then Michael will start with rent and rent seeking those who have comments or questions could put that in chat and... Read More
Trump’s economic policies have not addressed the fundamental forces that have gutted industrial jobs under the administrations of both parties, says economist Michael Hudson ontheAnalysis.news podcast with Paul Jay. Transcript TRANSCRIPT Edited for Clarity Paul Jay: Hi, I’m Paul Jay and welcome to theAnalysis.news podcast. Please don’t forget, at the top of the webpage, and... Read More
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Michael Hudson [intro/music] (00:02): The money that you pay for debt service to a bank isn’t spent back into the economy. The bank bond holders are basically the 1% of the economy. They’re rich enough that they’re not going to take all this extra money they get to buy more goods and services. They’ll buy... Read More
Continuing from the prior column– — John Remington Graham’s thesis that the mis-named “civil war” was fomented by bankers who desired a large national debt that they could acquire in order to expand and contract currency and credit and thus control the economy and government, I present today with permission Graham’s analysis of the repeal,... Read More
n my last two columns, sufficient evidence was provided that the Lincoln regime was an unconstitutional war crime regime and that the so-called “civil war” was an act of northern aggression against the South initiated by Lincoln for the purpose of saving the Union. See: and Slavery was not an issue. The Southern states seceded... Read More
Michael Hudson’s landmark 2015 book “Killing the Host” exposed how the empires of finance, insurance and real estate captured the global economy through neo-liberalism and sold us down the road to neo-feudalism. Michael returns to the show to describe why the current global economic demise is the fruit of consummate greed, crony politics and rapacious... Read More
Michael Hudson: Well, I think you’re quite right in organizing the conference to point out that today’s pandemic crisis hastens and intensifies the internal contradictions that have been building up. Many of these contradictions are going to be blamed simply on the virus. But there is an underlying problem that the virus is exposing and... Read More
The conservative majority on the Supreme Court may betray America on cultural issues, but it does equally as impressive legal back flips to protect corporations who want to steal their worker's pensions. In Thole v. U.S. Bank, Judge Kavanaugh led a 5-4 ruling stating that the retirees suing their employers for enriching themselves by mismanaging... Read More
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(Twilight Zone 2020)
You are a globalist. Not you personally, gentle reader. Let me explain. We’re going on a voyage through sight and sound and mind, unlocking that door with that key of imagination (it’s still around), crossing over into Twilight Zone 2020. When we’re done, you’ll have seen the world through the eyes of a globalist. Which... Read More
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To most people, if they are familiar with it at all, BlackRock is an asset manager that helps pension funds and retirees manage their savings through “passive” investments that track the stock market. But working behind the scenes, it is much more than that. BlackRock has been called “the most powerful institution in the financial... Read More
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Connecting the Dots to Our Brave New World
Humankind is at a cusp, a point of transition between two different states of governance and existence. The world today is like a sack being slowly filled while the string around the opening is pulled increasingly tighter to prevent the contents from escaping confinement. The shadows of this future are everywhere to be seen but... Read More
Jamie Dimon and JP Morgan Chase
I have to say that I am amazed that so many folks on the Left seem to think that the current riots in the US are a spontaneous rebellion against police violence, systemic racism, and history of persecution and exploitation of Blacks and Indians, etc. As for the violence, looting and riots - they are... Read More
Hip Hop legend Ice Cube came under fire last week for posting an anti- racist image on Twitter in support of Black Lives Matter. The image was widely panned as ‘anti-Semitic’ by those who work hard to conceal images of slavery, oppression and abuse as soon as they gather that a member of their ethnic... Read More
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Can we cut the faux Outrage over ‘The Fed’ and the evil ‘One Percenters’ and focus on illicit Counterfeiting and...
With the national debt reaching absurd heights and personal home/auto/college/credit card debt sucking the joy out of life, it’s long overdue for a fresh look at this ancient topic. If your understanding of financial matters is informed by mainstream news and/or subsidized academics, I’m guessing you may have missed some key points—since both groups love... Read More
When investors buy stocks, stock prices rise. That is the immutable law of the market. It doesn't matter if the money comes from big financial institutions, Mom and Pop day-traders or Central Banks. The same rule applies: Buy more stocks and prices go higher. So when the Federal Reserve launched its recent "repo rescue" operation,... Read More
Following a few mild words of dissent by Congresswoman Ilhan Omar, the US House of Representatives was almost united in affirming the special relationship between Israel and the US. See, for ex. So how is “our most reliable and most important ally” treating us? If ‘our' includes the US treasury, the answer is that Israel’s... Read More
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The Inequality Gap on a Planet Growing More Extreme
As we head into 2019, leaving the chaos of this year behind, a major question remains unanswered when it comes to the state of Main Street, not just here but across the planet. If the global economy really is booming, as many politicians claim, why are leaders and their parties around the world continuing to... Read More
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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
For 66 years the Glass-Steagall act reduced the risks in the banking system. Eight years after the act was repealed, the banking system blew up threatening the international economy. US taxpayers were forced to come up with $750 billion dollars, a sum much larger than the Pentagon’s budget, in order to bail out the banks.... Read More
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Glass-Steagall or Another Economic Meltdown?
Donald, listen, whatever you’ve done so far, whatever you’ve messed up, there’s one thing you could do that would make up for a lot. It would be huge! Terrific! It could change our world for the better in a big-league way! It could save us all from economic disaster! And it isn’t even hard to... Read More
Remember when “draining the swamp” was something the Bush administration swore it was going to do in launching its Global War on Terror? Well, as we all know, that global swamp of terror only got muckier in the ensuing years. (Think al-Qaeda in the Arabian Peninsula, think ISIS.) Then, last year, that swamp left terror... Read More
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SHARMINI PERIES: Just prior to the economic collapse of 2007-2008 there were several economic indicators which could have given us a clue of the impending disaster. If we look at the economic situation today in the US, we find many of these very same indicators. Housing prices are getting very high. Credit card debt has... Read More
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God bless Donald Trump for sacking James Comey! Just a few days before this decisive step, Justin Raimondo of Antiwar.com called James Comey "the most powerful man in America". Comey was pushing the US into an unnecessary war with unwilling Russia. Answering a question by Lindsey Graham, the notorious warmonger, he said that Russians are... Read More
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How a Bank Conquered Washington
Irony isn’t a concept with which President Donald J. Trump is familiar. In his Inaugural Address, having nominated the wealthiest cabinet in American history, he proclaimed, “For too long, a small group in our nation's capital has reaped the rewards of government while the people have borne the cost. Washington flourished -- but the people... Read More
In the course of researching an article on five HSBC whistleblowers for CounterPunch magazine, I got to know one of them, Nicholas Wilson from the UK. Wilson, a lawyer, exposed a sleazy bit of business in which HSBC’s personal finance unit loaded its debt recovery with millions in improper fees. He lost his job while... Read More
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Introduction: During most of the past two decades Washington has aggressively launched military and economic wars against at least nine countries, either directly or through its military aid to regional allies and proxies. US air and ground troops have bombed or invaded Afghanistan, Iraq, Pakistan, Libya, Somalia, Syria, Yemen and Lebanon. More recently Washington has... Read More
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The IMF foretells of vulnerable banks in US and EU while enabling unsustainable debt-leveraging, says economist Michael Hudson. KIM BROWN, TRNN: Welcome to The Real News Network. I’m Kim Brown, in Baltimore. With the worst of the great recession, supposedly, behind us, economic analysts still see signs that we’re not yet completely out of the... Read More
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James Galbraith’s articles and interviews collected in his bookWelcome to the Poisoned Chalice trace his growing exasperation at the “troika” – the European Central Bank (ECB), IMF and EU bureaucracy – which refused to loosen their demand that Greece impoverish its economy to a degree worse than the Great Depression. The fight against Greece was,... Read More
PastClassics
How America was neoconned into World War IV
Analyzing the History of a Controversial Movement
Shouldn't they recuse themselves when dealing with the Middle East?
The Shaping Event of Our Modern World
The Surprising Elements of Talmudic Judaism