How an “Act of God” Pandemic Is Destroying the West: The U.S. is Saving the Financial Sector, not the Economy — Michael Hudson

Summary:
A socialist government such as China’s can keep its industry going simply by simply writing down debts when they can’t be paid without forcing a closedown and bankruptcy and loss of assets and employment. The world thus has two options: a basically productive public financial system in China, or a predatory financial system in the United States.... Incidentally, I searched on the title in Google search to see whether this site is being deplatformed and came up with nothing. The Unz Review is apparently being censored.The Unz ReviewHow an “Act of God” Pandemic Is Destroying the West: The U.S. is Saving the Financial Sector, not the Economy  Michael Hudson | President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished

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