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Michael Hudson

Articles by Michael Hudson

Calling to Account the Hereditary Warrior Class

7 days ago

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TranscriptBENJAMIN NORTON: Hey, everyone. I’m Ben Norton, and this is the Multipolarista podcast. And I have the great pleasure of being joined today by one of my favorite guests, one of I think the most important economists in the world today. I’m speaking with Professor Michael Hudson.
If you’ve seen any of the interviews I’ve done with Professor Hudson over the past few years, you probably know that he’s a brilliant analyst. He always has, I think, the best analysis to understand what’s going on economically and also politically, geopolitically, in the world today.
And right now is, I think, a very important moment to have Professor Hudson on today. We’re going to talk about the economic war on Russia and the process of economic decoupling between

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Ukraine 4 Steps On

16 days ago

Katie Halper podcast, April 29, 2022
KATIE HALPER: Professor Michael Hudson, thank you so much for joining us. We’re really excited to have you.
We wanted to start off by asking you if you could provide an overview of what the economics driving this conflict are—and by conflict, I mean the conflict between Russia and Ukraine, and, of course, with the rest of the world, or really the conflict between Russia and US, and the economic fallout.
MICHAEL HUDSON: Well, it depends on what side you’re looking at. From the Russian side, I don’t think the economic factors were primary. They were threatened by NATO’s expansion and really a plan to attack the Russian-speaking areas of Ukraine. So, I think Russia’s calculations were simply military. The West’s

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The Dollar Devours the Euro

April 8, 2022

It is now clear that today’s escalation of the New Cold War was planned over a year ago. America’s plan to block Nord Stream 2 was really part of its strategy to block Western Europe (“NATO”) from seeking prosperity by mutual trade and investment with China and Russia.
As President Biden and U.S. national-security reports announced, China was seen as the major enemy. This despite China’s helpful role in enabling corporate America to drive down labor’s wage rates by de-industrializing the U.S. economy in favor of Chinese industrialization, China’s growth was recognized as posing the Ultimate Terror: prosperity through socialism. Socialist industrialization always has been perceived to be the great enemy of the rentier economy that has taken over most nations in the century since

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China – a sub-Imperial ally of the West?

April 4, 2022

Hudson Bond debate PART II March 28, 2022Is China’s Belt and Road initiative a socialist or capitalist approach to trade? Michael Hudson and Patrick Bond discuss and debate on with Paul Jay.
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TRANSCRIPTPaul JayHi and welcome back to, I’m Paul Jay. We’re going to continue our conversation with Patrick Bond and Michael Hudson about China. The first part, if you haven’t watched it, you probably should go back and watch it because it’s about more of the domestic situation. Now we’re going to talk about China’s international footprint and how we see it. So join us back in just a few seconds. Please don’t forget the donate button, subscribe button, ring the bell button if you’re watching on YouTube, and most important thing,

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Grab Bag Imperialism

March 31, 2022

CONSORTIUM NEWS – CN Live! – March 29, 2022Consortium News Joe Lauria interviews Michael Hudson and Richard Wolff, March 29, 2022
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Joe LauriaWelcome to CNLive! Season Four Episode Five: “Ukraine The Economic Fallout.” I’m Joe Lauria, editor in chief of Consortium News.
Elizabeth VosAnd I’m Elizabeth Vos.
Joe LauriaThe collective west, led by the United States, declared economic war against Russia last month in response to the invasion of Ukraine, imposing perhaps the harshest sanctions against any nation in history. President Joe Biden has said the aim of this economic warfare is to turn the Russian people against its government. Sanctions against Russia’s central bank were intended to destroy the value of the ruble. One U.S. dollar was worth 85 rubles

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Clearing the Fog

March 30, 2022

March 29, 2022.Margaret Flowers: You’re listening to Clearing the FOG, speaking truth to expose the forces of greed, with Margaret Flowers. And now I turn to my guest, Michael Hudson. Michael is the president of the Institute for the Study of Long-term, Economic Trends, ISLET. He’s a Wall Street financial analyst and a distinguished research professor of Economics at the University of Missouri, in Kansas City. He’s also the author of numerous books and recently updated his book, “Super Imperialism: The economic strategy of American Empire.” Thank you for taking time to speak with me today, Michael.
Michael Hudson: Well, thanks for having me on Margaret.
MF: You’ve talked a lot and written a lot about dollar hegemony and what’s happening now with de-dollarization. Can

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Accidental Crisis?

March 29, 2022

NATO-Russia Proxy War: Revealing Signs of a Fading America: Scott Ritter, Michael Hudson – Global Research – Centre for Research on Globalization.
GR (Michael Welch): Great privilege to speak with you again Mr. Hudson. Welcome!Michael Hudson: Thanks for having me on!
GR: Now, We’re seeing NATO unifying together behind the US call to sanction Russia, including removal from the SWIFT system. They’re being hit with sanctions to hurt, sanctions from hell as President Biden would say, and it doesn’t look as if it’s working. But the sanctions are boomeranging, and hitting the EU and the US pretty hard with soaring rates for food, fertilizer, oil and gas. They seem to provoke Russian aggression. He’s kind of compelled them to do that. We know it wasn’t the response, I mean it’s

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Putin’s Rubles

March 27, 2022

Cross-posted from The Saker.
Following Putin’s announcement about selling gas for Rubles only to hostile nations, I decided to reach out to Michael Hudson and ask him (my level, primitive) questions. Here is our full email exchange:
Andrei: Russia has declared that she will only sell gas to “hostile countries” for Rubles. Which means that to non-hostile countries she will continue to sell in Dollars/Euros. Can these hostile countries still purchase gas from Russia but via third countries?
Michael Hudson: There seem to be two ways for hostile countries to buy Russian gas. One seems to be to use Russian banks that are not banned from SWIFT. The other way would indeed seem to be to go through what looks to develop as a formal or informal third-country bank or exchange.

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Sanctions, Energy and Independence

March 22, 2022

March 21, 2022Michael Hudson on Ukrainian Sanctions
Ross [00:00:29] Welcome to Renegade Inc. Whatever the outcome in Ukraine, one thing is for sure the economic reverberations will be felt by everyone for years to come as the world divides between the West and a rapidly reshaping Eurasia.
Ross [00:00:49] Michael Hudson, always a pleasure to have you on the programme, welcome to Renegade Inc.
Michael Hudson [00:00:53] Thank you for inviting me.
Ross [00:00:55] Michael, sanctions, sanctions, sanctions is all we hear now. We’re sanctioning people. The West sanction people back to the Stone Age. What are the unintended consequences of sanctions?
Michael Hudson [00:01:05] Well, one is to serve very much like a protective tariff on the sanctioned country. For instance,

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Is Chinese Socialism Working?

March 18, 2022

Paul JayHi, welcome to, I’m Paul Jay. We’re going to talk about China. We’re going to have two guests who agree on so many things, but they have some disagreements about just what is the character of China, and we’re going to get into that.
Please don’t forget the donate button. We can’t do this if you don’t donate. If you’re watching on YouTube, subscribe and also hit that little bell thing, so you know when something new comes. Although part of YouTube suppressing our stories. We’ve been hearing from viewers that even though they have the bell, they’re still not getting the notifications. If that’s the case, let me know. The most important thing is get to the website, sign up for our email list, and we will be back in just a few seconds for a

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Renegade Predictions

March 15, 2022

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Ross [00:00:29] Welcome to Renegade Inc. On this programme, we talk with some of our Renegade Inc. friends and ask them about what surprised them over the last year and, as importantly, what they foresee happening in 2022. Strap in, it’s about to get interesting.
Ross [00:00:48] Dr Ashley Frawley, wonderful to have you back on the programme.
Ashley Frawley [00:00:51] Thank you so much for having me.
Ross [00:00:53] Ashley, tell us what shocked you in 2021? What surprised you? What ambushed you, and you thought, Wow, I didn’t see that coming?
Ashley Frawley [00:01:01] I don’t know. After 2020, does anything shock us anymore? I think the thing that most shocked me was the ease with which we abandoned so much of what we thought was worthwhile in

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The American Empire self-destructs.

March 7, 2022

But nobody thought that it would happen this fast.
Empires often follow the course of a Greek tragedy, bringing about precisely the fate that they sought to avoid. That certainly is the case with the American Empire as it dismantles itself in not-so-slow motion.
The basic assumption of economic and diplomatic forecasting is that every country will act in its own self-interest. Such reasoning is of no help in today’s world. Observers across the political spectrum are using phrases like “shooting themselves in their own foot” to describe U.S. diplomatic confrontation with Russia and allies alike.
For more than a generation the most prominent U.S. diplomats have warned about what they thought would represent the ultimate external threat: an alliance of Russia and China

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The Ripple of Invasion

March 5, 2022

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The west’s massive sanctions war against Russia is having a profound impact on the global economy. Instead of just punishing Russian citizens, consumers in the west and the developing world will also experience economic pain. Globalization itself is being interrupted. The Great Separation is upon us.
CrossTalking with Daniel Lazare, Michael Hudson, and Brad Blankenship.
Photo by Grisha Grishkoff from Pexels

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America Defeats Germany for the Third Time in a Century

February 28, 2022

The MIC, OGAM and FIRE Sectors Conquer NATO
My old boss Herman Kahn, with whom I worked at the Hudson Institute in the 1970s, had a set speech that he would give at public meetings. He said that back in high school in Los Angeles, his teachers would say what most liberals were saying in the 1940s and 50s: “Wars never solved anything.” It was as if they never changed anything – and therefore shouldn’t be fought.
Herman disagreed, and made lists of all sorts of things that wars had solved in world history, or at least changed. He was right, and of course that is the aim of both sides in today’s New Cold War confrontation in Ukraine.
The question to ask is what today’s New Cold War is trying to change or “solve.” To answer this question, it helps to ask who initiates the

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Patreons: Live Q & A this Thurs eve

February 21, 2022

A reminder that this Thurs at 5pm NY time, we have our 1st Q&A with patreons at the Patron Plus level ($9 and above).
The discussion will go for 45ish minutes so save up your questions. We are now up to 113 patrons which is very much appreciated.
Support my work if you can.
Thank you!
Photo by Amit Pal from Pexels

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America’s real adversaries are its European and other allies

February 8, 2022

The U.S. aim is to keep them from trading with China and Russia
The Iron Curtain of the 1940s and ‘50s was ostensibly designed to isolate Russia from Western Europe – to keep out Communist ideology and military penetration. Today’s sanctions regime is aimed inward, to prevent America’s NATO and other Western allies from opening up more trade and investment with Russia and China. The aim is not so much to isolate Russia and China as to hold these allies firmly within America’s own economic orbit. Allies are to forego the benefits of importing Russian gas and Chinese products, buying much higher-priced U.S. LNG and other exports, capped by more U.S. arms.
The sanctions that U.S. diplomats are insisting that their allies impose against trade with Russia and China are

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The Blueprint to the US Empire

February 7, 2022

[unable to retrieve full-text content]A talk to the Centre for Global Justice. Photo by Sanaan Mazhar from Pexels
The post The Blueprint to the US Empire first appeared on Michael Hudson.

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The Seven Trumpets?

January 27, 2022

Cross-posted from The Saker, who writes:
Intro: I need to begin with a MAJOR caveat and tell you how/why this “interview” happened. I did not plan to interview Michael Hudson. I was listening to a well known Russian economist, Mikhail Khazin, and I was fascinated by what he was saying. I also understood only some of the points he was making. To put it mildly, I am not an economist, and while listening to Khazin did did not take any notes. What I did do is email Michael and ask him a few question by email, just to clarify my own thoughts and marginally better my (rather dismal) “understanding” of economic and their role in the current standoff. With this typical kindness and generosity, Michael gave me some very interesting answers, and he agreed to allow me to turn this

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IMF and our Paper on Post-Corona Budgets

January 26, 2022

Watch to a high level discussion with the IMF’s FAD group on our paper Post-Corona Balanced-Budget Super-Stimulus: The Case for Shifting Taxes onto Land with Michal Kumhof, Nicolaus Tideman, Charles Goodall and myself. Enjoy this rich policy detail.
Photo by Yunus Tuğ from Pexels

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Wrestling with Jesse Ventura

January 19, 2022

[unable to retrieve full-text content]On Super Imperialism and acts of (financial) warfare. Photo by Umanoide on Unsplash
The post Wrestling with Jesse Ventura first appeared on Michael Hudson.

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Inflation and Illegal Repo Loans

January 11, 2022

Economist Michael Hudson explains inflation crisis and Fed’s secretive $4.5 trillion bank bailout.
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 loans.
TRANSCRIPTBENJAMIN NORTON: Hey, everyone. This is Ben Norton, and I’m joined by a friend of the show, one of our favorite guests, Michael Hudson, the economist. His reputation precedes him; many of you probably know him. You can go to and check out his excellent articles and his books.
We had him on a few months ago to talk about the new, third edition of his book “Super Imperialism: The Economic Strategy of American Empire.” And today we’re going to talk

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on Debt Parasites

January 7, 2022

We’re told that debt forgiveness is impossible, because all debts must be paid, and to do the opposite is to invite anarchy and chaos. But what if none of it was true? Renowned economist Michael Hudson tells Branko Marcetic on New Zealand’s 1/200 podcast about the debt jubilees of the ancient world, how Jesus preached debt forgiveness, and how the finance sector has become a parasite feeding off the productive parts of the economy.
Okay, welcome everyone to another episode of 1 of 200, the New Zealand and international politics podcast. I am very excited about today’s episode, we have a brilliant guest. His name is Michael Hudson. He is an economist. He is a professor of economics at the University of Missouri Kansas City, and a research associate at the Levy

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January 7, 2022

[unable to retrieve full-text content]To view this content, you must be a member of Karl’s Patreon – Click "Read more" to unlock this content at the source
The post WAPE 2021 OUTLINE first appeared on Michael Hudson.

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The Danger of Foreign Denominated Debt

December 15, 2021

[unable to retrieve full-text content]Part 2 to our Max Keiser interview. Photo by Gije Cho from Pexels
The post The Danger of Foreign Denominated Debt first appeared on Michael Hudson.

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On Bitcoin, With Max

December 10, 2021

[unable to retrieve full-text content]The interview starts at 14 mins. Part 2 to follow. Photo by David McBee from Pexels
The post On Bitcoin, With Max first appeared on Michael Hudson.

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The Greatest Rip-Off

December 9, 2021

[unable to retrieve full-text content]An interview with one of Australia’s most respected economists, Alan Kohler. Why are Australia’s house prices almost double the US’s? With detail on geo-political issues re Belt n Road. Photo by Charles Parker from Pexels
The post The Greatest Rip-Off first appeared on Michael Hudson.

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Falling into Line: Turning Endless Deficits into a Power Base

November 22, 2021

Thanks to all our Patreon supporters, we are now up to …. 67 patrons! Please support my work. This is an important interview.
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 going to the rather complex subject of international economics, but by way of an analysis of empire. John Perkins and Confessions of an Economic Hit Man showed us the debt dimension of empire. Our US empire is the first empire ever that runs on debt more than anything else. And if you

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On Trotsky, on Imperialism

November 9, 2021

On a tangent here with George Galloway. Starts from 14.30.
Please support my new Patreon page. It’s as good as selling books!
Leon Trotsky: “Our planet is being turned into a filthy and evil-smelling imperialist barrack.”
Leon Trotsky was a very famous Russian indeed. A key figure in the Bolshevik Revolution, in the foundation of the Red Army, which successfully repelled the foreign invasion of Russia which sought to overthrow it. He even found time to be the godfather of our guest Michael Hudson, Professor of Economics at the University of Missouri, Kansas City. The author of ‘Super Imperialism: The Economic Strategy of American Empire’, he joined the show to explain his theories on industrial capitalism, politics and military might.

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Did the Squad give away their Bargaining Power?

November 9, 2021

I was glad to see Ayanna Pressley make clear over the weekend what a travesty has occurred, explaining that she had to oppose the infrastructure bill because House leaders did not honor the agreement that they had made: “We have been clear from the onset that any vote on the narrow roads and bridges bill must happen in tandem with a vote on the Build Back Better Act that invests in our care economy, housing, paid leave, combating climate change, and more.”

Has the Progressive Caucus lost its bargaining power by giving in to President Biden promise of “Trust Me.” Suppose that he is indeed able to get the Blue Dog/New Democrat Thatcherite “centrist” House members (mercenary lobbyists for corporate America and the One Percent) on board. But what about the Senate? What in

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