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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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Andrei: Is it true that the USA cannot raise interest rates to lower the inflation rate as this would trigger a cascading series of bankruptcies and cost the Dems the upcoming elections? Michael Hudson: The Federal Reserve and T
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There is no safety, as in times past when the Fed was draining money out of the economy and could just flip back to pumping money in, because the Fed is running the outflow pump fast and furious, and the Fed has no option for reversing the pump or even just stopping it this time... 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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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
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History has been rewritten almost daily this week, almost immediately as it occurs. A Wall Street Journal editorial on November 4 spun its view of what is at issue for the Democratic Party: “Voters warn Democrats to walk away from the Sanders-Pelosi agenda.” The Democrats’ own leadership quickly agreed with this take, playing the blame... Read More
The Financialization of Nature
Just in time for the UN’s policy push for “30 x 30” – 30% of the earth to be “conserved” by 2030 – a new Wall Street asset class puts up for sale the processes underpinning all life. A month before the 2021 United Nations Climate Change Conference (known as COP26) kicked off in Scotland,... Read More
This is wild! I don’t think Donald Trump knows how to run a social media company! Bloomberg News: It’s also unclear how Trump plans to build a social-media platform on the scale of Twitter over the next few months, let alone a streamin
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In a Financial Times op-ed, “Investors in Xi’s China face a rude awakening” (August 30, 2021), George Soros writes that Xi’s “crackdown on private enterprise shows he does not understand the market economy. … Xi Jinping, China’s leader, has collided with economic reality. His crackdown on private enterprise has been a significant drag on the... Read More
Interview with Swedish Positiva Pengar group, by Jessi Ora, May 27, 2021
TRANSCRIPT Jussi: So welcome all and welcome Michael. Good to have you here again. How are you? Hudson: It’s good to be back. Jussi: Our pleasure as usual. Let me just introduce you shortly first. I think most people know quite a lot about you. I’ll make it short. You have been an advisor to... Read More
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Creditocracy: A Geopolitical Economy
As President Biden continues his predecessor’s New Cold War on China, it is clear that the pandemic has vastly accelerated the on-gong shift in the international balance of power, away from the US and towards China. For former US Treasury Secretary, Lawrence Summers, it was likely a ‘hinge of history’: ‘[i]f the 21st century turns... 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
Guests Michael Hudson & Jonathan Wilson-Hartgrove: April 21, 2021 (transcribed May 3, 2021): Jim Vrettos: So, Michael, Jonathan. Thank you so very, very much for being here. Jonathan, you're from... We're looking at you from North Carolina there and Michael is in Queens. You've both had tremendous influence in your respective fields. Spiritual economic activist... Read More
A report published last year by the WEF-Carnegie Cyber Policy Initiative calls for the merging of Wall Street banks, their regulators and intelligence agencies as necessary to confront an allegedly imminent cyber attack that will collapse the existing financial system. In November 2020, the World Economic Forum (WEF) and Carnegie Endowment for International Peace co-produced... Read More
TRANSCRIPT Ibrahima: [00:00:00] Good morning or good evening, depending on where you are located and welcome to the Henry George School. My name is Ibrahima Drame and I'm the director of education. It's a great honor to have you with us today for another joint webinar co-organized with the International Union for Land Value Taxation... 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
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
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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
Earlier: Gamestop: Everything That Challenges the Establishment's Rule Must be "White Supremacy" For the first time since Donald Trump’s 2016 campaign, a viral, uncontrolled, and populist campaign is raging, this time against Wall Street. By identifying a financial vulnerability, retail traders managed to beat major hedge funds at their own game via a classic short... 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
If you’re new to high finance, then the concept of “shorting” is bizarre and convoluted. People actually make money from stocks falling? How is this possible? Why is it legal? Does this contribute anything to society? Am I missing out? Here’s how shorting works. Let’s say you have a neighbor who is a cat lady... Read More
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There is a deceitful and ahistorical myth that frequently resurfaces in right-wing circles seeking to discredit socialism with lies about the Russian Revolution. No matter how many times it has been invalidated as fabrication, the reactionary mythos endures. As might be expected, the author is referring to the preposterous claim that American capitalists — or... 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
A Tucker Carlson segment putting the spotlight on a November 28th, 2020 talk by Chinese Communist Party's (CCP) foreign relation's expert, Di Dongsheng, is being circulated throughout social media, including by Donald Trump. According to Carlson, the video reveals that Joe Biden and his supporters are agents of the Chinese government. What was dishonestly edited... Read More
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“What’s going to happen now?” I was asked earlier today. “Nothing and everything,” I replied. Immigration, largely unchallenged and unscathed (excepting the incidental impact of COVID-19 on population movement) from four years of Trumpism, will now continue to accelerate unabated. Zionism will continue to enjoy the expansion of American institutional and military support, this time... 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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The U.S. is Saving the Financial Sector, not the Economy
Before juxtaposing the U.S. and alternative responses to the corona virus’s economic effects,[1] I would like to step back in time to show how the pandemic has revealed a deep underlying problem. We are seeing the consequences of Western societies painting themselves into a debt corner by their creditor-oriented philosophy of law. Neoliberal anti-government (or... Read More
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Here are a few takeaways from the Democratic Convention: The Democrats are running on the same platform they ran on in 2016. The Democrats put style above substance, flashy optics above ideas or issues. The Democrats think that hollow tributes to "diversity" and "inclusion" will win the election. The Democrats have abandoned white, working class... Read More
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In a recent article, “Smashing Culture,” I briefly described a scene in Philadelphia from 30+ years ago. Sitting in McGlinchey’s, I was drinking Rolling Rock. This trivia triggered a most curious yet telling response from a commenter, “Rolling Rock? – really? Were you listening to the Eagles too? Nice street cred attempt, but it’s either... Read More
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The imposition of the nationwide lockdowns required elite consensus. There's no way that a project of that magnitude could have been carried out absent the nearly universal support of establishment elites and their lackeys in the political class. There must have also been a fairly-detailed media strategy that excluded the voices of lockdown opponents while--... 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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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
People take part in an All Black Lives Matter march, organized by Black LGBTQ+ leaders, in the aftermath of the death in Minneapolis police custody of George Floyd, in Hollywood, Los Angeles, California, U.S., June 14, 2020. REUTERS/Ringo Chiu - RC2C9H99O0GS
Nixon 68 is back with a vengeance, with President Trump placing himself as the guarantor/enforcer of Law & Order. That slogan guaranteed Nixon’s election, and was coined by Kevin Phillips, then an expert in “ethnic voting patterns”. Philips makes for a very interesting case. In 1999, he became the author of a seminal book: The... Read More
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Have you noticed the peculiar fact that despite the lockdown, the economic crisis, tens of millions unemployed and multiple corporations filing for bankruptcy, Wall Street is having a ball? CNBC‘s Jim Cramer examined this anomaly earlier a few days ago, his verdict: “we're looking at a V-shaped recovery in the stock market, and that has... Read More
The Federal Reserve is directly buying stocks, bonds, junk bonds, mortgages, junk mortgages, all to prop up the value of assets owned by the top 5%. This does not spur much new production or create jobs. Michael Hudson joins Paul Jay on theAnalysis.news podcast
On April 29th, an American friend wrote from Spain, where he’d lived for 20 years, “The government announced new (legal) abilities to track and monitor people’s telephones. My youngest [son] asked if we could go to the U.S. if Spain moves towards communism. I didn’t know how to respond! Frightening where this could go.” I... Read More
The Saker: I suppose that like any system, the economy and financial system in the USA and, more generally, in the West can take some punishment, but there has to be a “point of no return” after which the entire systems comes tumbling down like a house of card. My first question is double: a)... Read More
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Imagining How Financial Parasites and Debt Bondage Are Destroying Us
Jim Vrettos: Welcome once again to the Radical Imagination. I'm your host, Jim Vrettos. I'm a sociologist whose taught at John Jay College of Criminal Justice and Yeshiva University here in New York. Our guest today on the Radical Imagination is Michael Hudson. He was on our March 8th show. We had such an overwhelmingly... Read More
What do we make of it all? I just read an article in the New York Times that reports that President Trump lied and hid from the public the severity of the Covid-19 pandemic . On the other side, I encounter endless Internet rage that Covid-19 is a hoax, that New York city’s hospitals are... Read More
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How the US Makes Countries Pay for Its Wars
Economist Michael Hudson explains how American imperialism has created a global free lunch, where the US makes foreign countries pay for its wars, and even their own military occupation. Max Blumenthal and Ben Norton discuss the economics of Washington’s empire, the role of the IMF and World Bank, attempts to create alternative financial systems like... Read More
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Facing the Covid-19 pandemic, the US Congress rammed through the CARES Act — which economist Michael Hudson explains is not a “bailout” but a massive, $6 trillion giveaway to Wall Street, banks, large corporations, and stockholders. Max Blumenthal and Ben Norton discuss the enormous financial scam with Hudson, who reveals how the economy actually works,... Read More
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There's no doubt that the Coronavirus is a serious infection that can lead to severe illness or death. There's also no doubt that 'virus hysteria' has been used for other purposes. Wall Street, for example, has used virus-panic to advance its own agenda and get another round of trillion dollar bailouts. In fact, it took... Read More
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Summary After being attacked by monetarists and others for many decades, MMT and the idea that running government budget deficit is stabilizing instead of destabilizing is suddenly gaining applause from the parts of the political spectrum that long opposed MMT: the banking and financial sector, especially the Republicans. But what is applauded is in many... Read More
Nobody, anywhere, could have predicted what we are now witnessing: in a matter of only a few weeks the accumulated collapse of global supply chains, aggregate demand, consumption, investment, exports, mobility. Nobody is betting on an L-shaped recovery anymore – not to mention a V-shaped one. Any projection of global gross domestic product (GDP) in... Read More
You don’t need to read Michel Foucault’s work on biopolitics to understand that neoliberalism – in deep crisis since at least 2008 – is a control/governing technique in which surveillance capitalism is deeply embedded. But now, with the world-system collapsing at breathtaking speed, neoliberalism is at a loss to deal with the next stage of... Read More
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1-- Unemployment is off-the-charts Thursday's jobless claims leave no doubt that the country is in the grips of another severe recession. More than 6.6 million Americans filed for unemployment insurance in the last week. That number exceeds the gloomiest prediction of more than 40 economists and pushes the two-week total to an eye-watering 10 million... Read More