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Articles by Michael

Undermining public finance to drive privatization

3 days ago

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Definitions and Debate

7 days ago

[Intro] Welcome to the Knowledge Problem Podcast, the objective of this podcast is to engage policy professionals over thought provoking and sometimes sensitive topics. We aim to bring these professionals together in a way that does not feed the tribalistic narratives plaguing society today. It is my hope and the hope of all involved in this endeavor that by allowing these ideas to contend and challenge each other, with mutual respect, everyone who listens will learn something not previously considered.
[Disclaimer] The opinions and views of all guests do not necessarily reflect the views of the Knowledge Problem or of anyone involved in this production.
Regan: Hello everyone, thank you for tuning into this episode of the Knowledge Problem Podcast. I’m your host Regan

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Dollar Recycling and Military Encirclement

18 days ago

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Trump’s “Bank and Landlord Relief” bill

24 days ago

The Radical Imagination:Imagining How Financial Parasites and Debt Bondage Are Destroying UsImagining 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 positive response to that show that we’ve asked him to return today, and he’s been gracious enough to accept.
Unlike most economists, he’s been a fierce champion and advocate for the economic rights of the poor, workers, disenfranchised and the vulnerable around the world through his scholarship

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The Hard Fist of American Imperialism

April 27, 2020

[embedded content]
Moderate Rebels Part 2 Super Imperialism, April 2020
TRANSCRIPT – HOW THE US MAKES COUNTRIES PAY FOR ITS WARS: ECONOMICS OF AMERICAN IMPERIALISM WITH MICHAEL HUDSON| MODERATE REBELS, 24 APRIL 2020Economist 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 BRICS, and the new cold war on China and Russia.PART 2 OF 2 (Interview recorded on April 13, 2020)
Part 1: “US coronavirus ‘bailout’ scam is $6 trillion giveaway to Wall St – Economist Michael Hudson explains”

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Another Giveaway

April 23, 2020

[embedded content]
TRANSCRIPT: US CORONAVIRUS ‘BAILOUT’ SCAM IS $6 TRILLION GIVEAWAY TO WALL ST – ECONOMIST MICHAEL HUDSON EXPLAINS21 APRIL 2020
BY MODERATE REBELSFacing 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, with the Federal Reserve printing money so rich elites don’t lose their investments. 
Michael Hudson, “A debt jubilee is the only way to avoid a depression,” The Washington Post, March 21, 2020Transcript
MICHAEL HUDSON: Just think of when, in the debates with

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Due now

April 14, 2020

Due now | Michael Hudson

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The Use and Abuse of MMT

April 11, 2020

By Michael Hudson, with Dirk Bezemer, Steve Keen and T.Sabri Öncü
Michael Hudson is a research professor of Economics at University of Missouri, Kansas City, and a research associate at the Levy Economics Institute of Bard College. His latest book is “and forgive them their debts”: Lending, Foreclosure and Redemption from Bronze Age Finance to the Jubilee Year
Dirk Bezemer is a Professor of Economics at the University of Groningen in The Netherlands..
Steve Keen is a Professor and  Distinguished Research Fellow at the Institute for Strategy, Resilience and Security of University College London (www.isrs.org.uk). He blogs at www.patreon.com/profstevekeen
Sabri Öncü ([email protected]) is an economist based in İstanbul, Turkey
Summary
After being attacked by monetarists

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Shrinkage and the Rentier’s Playground

April 8, 2020

Shrinkage and the Rentier’s Playground | Michael Hudson

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NPR, cov-19 and “America is strapped”.

April 4, 2020

NPR, cov-19 and "America is strapped". | Michael Hudson

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Radical imagination and the intellectual edifice

March 30, 2020

Radical imagination and the intellectual edifice | Michael Hudson

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People’s Forum: Economic Lessons for 2020

March 26, 2020

Economic Lessons for 2020: A Conversation with Dr. Michael HudsonPeoples Forum, December 12, 2019.
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We are facing a crisis of poverty and economic precarity, where 140 million people are poor or low-income, the costs of living are going up and the chances of living are going down. What condition is our economy in today, more than ten years after the Great Recession of 2008, to withstand another economic downturn? What lessons have we learned – or failed to learn – over this past decade? What lessons can we draw from history to guide us in the months and years to come?
On December 12, 2019, the Kairos Center hosted a talk at The People’s Forum in New York City with economist Dr. Michael Hudson on the 2008 economic crisis, what’s happened over the past

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Unpayable Corporate Debt: A Brady Bond Solution for America’s Economic Crisis

March 26, 2020

Unpayable Corporate Debt: A Brady Bond Solution for America’s Economic Crisis | Michael Hudson

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Debt and Power

March 23, 2020

[embedded content]
Transcript, recorded 20th Match 2020
Martin: Today Debt and Power. I’m Martin North from Digital Finance Analytics. Welcome to our latest post covering finance and property news with a distinctively Australian flavour.
Today it is my pleasure to introduce Michael Hudson, American Economist, Professor of Economics and author of “Killing the Host” and “and Forgive Them Their Debts”. In the current environment I think those are great titles. Michael welcome.
You have been following the economy and the question of debt for quite some time and I’d like to start the discussion with a simple question: How much debt is too much debt?
Michael: Too much debt is when it’s beyond the ability to be paid. At a certain point every debt grows beyond the ability to be

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Corona Debt Jubilee

March 22, 2020

Cross posted from the Washington Post.
Michael Hudson, author of “… and forgive them their debts” and “Killing the Host,” is president of the Institute for the Study of Long-Term Economic Trends and is distinguished research professor of economics at the University of Missouri at Kansas City.
Even before the novel coronavirus appeared, many American families were falling behind on student loans, auto loans, credit cards and other payments. America’s debt overhead was pricing its labor and industry out of world markets. A debt crisis was inevitable eventually, but covid-19 has made it immediate.
Massive social distancing, with its accompanying job losses, stock dives and huge bailouts to corporations, raises the threat of a depression. But it doesn’t have to be this way.

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The Importance of Neighborhood Banks

March 13, 2020

An interview with Ellen Brown on Its Our Money, Show #124
Michael Hudson: [00:00:00] There’s recognition that commercial banking has become dysfunctional and that most loans by commercial banks are either against assets – in which case the lending inflates the prices of real estate, stocks and bonds – or for corporate takeover loans.The economy’s low-income brackets have not been helped by today’s financial system. Here in New York City, red lining and a visceral class hatred by high finance toward the poor characterized the major banks. From the very top to the bottom, they were very clear they were not going to lend to places with racial minorities like the Lower East Side. The Chase Manhattan Bank told me that the reason was explicitly ethnic, and they didn’t want to

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Kindergarten debts

March 3, 2020

FRONT RUNNING: Student Debt, March 2, 2020
Topic: Student Debt || Guests: Steve Keen, Michael Hudson, Randy Voller
MAX KEISER: Welcome to Front Running 2020 with Max Keiser and Stacy Herbert and a bevy of special guests right here in fabulous, hipster Brooklyn. I’m feeling it. So Stacy, this episode is all about student debt.
STACY HERBERT: And the students, of course, are the Millennials and Generation Z. They like the candidates promising to get rid of all the student debts. There’s $1.6 trillion in outstanding debt today in America. That is up from $363 billion in just 2005. Joining us to discuss this, Dr. Michael Hudson, Professor Steve Keen and Randy Voller. Professor Steve Keen, of course, you talk a lot about debt and in fact the rate of increase of debt. What

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In a struggle between oligarchy and democracy, something must give

February 25, 2020

In a struggle between oligarchy and democracy, something must give | Michael Hudson

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On Bernie’s Chances

February 2, 2020

On Bernie’s Chances | Michael Hudson

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Equilibrium Theory and Near East Economics

January 29, 2020

An interview with acTVism Munich.
[embedded content]
Johnson Wang

Michael Hudson on the History of Debt Cancellation, Austerity in Europe, January 2020
Rees Jeannotte [00:00:05] Hello and welcome. I’m Rees Jeannotte, and you are watching Know Your Stuff. Joining me today is economist and anthropologist Michael Hudson. He is a professor of economics at the University of Missouri, Kansas City, and an author of many books, including Killing the Host, J for Junk Economics, and his most recent “…and forgive them their debts”. Today, we’ll be talking with him about his latest book …and forgive them their debts, the eurozone crisis and the problem of ever-increasing rental and home ownership costs around the world. Professor Michael Hudson, thank you for joining us.
Michael

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Democratizing Money – a discussion

January 14, 2020

Democratizing Money – a discussion | Michael Hudson

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Note to China

January 14, 2020

My book “Super Imperialism” was about how the United States has gained a free lunch by establishing the dollar as international reserve currency by replacing gold. I also showed that the U.S. balance of payments deficit is almost entirely military related to support its 800 bases around the world. Ending the gold-exchange standard in 1971 created a situation in which the excess U.S. dollars thrown of by the U.S. payments deficit end up in foreign central banks.
For these central banks, the inflow of surplus dollars poses the problem of what do we do with them. Central banks don’t buy stocks and bonds, or control of corporations, because that is risky and also does not directly help their own economy. So central banks buy US Treasury bonds and bills – IOUs of the U.S.

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Persian Powerplay

January 9, 2020

Cross-posted from The Saker:
Introduction: After posting Michael Hudson’s article “America Escalates its “Democratic” Oil War in the Near East” on the blog, I decided to ask Michael to reply to a few follow-up questions. Michael very kindly agreed. Please see our exchange below.
Q1: Trump has been accused of not thinking forward, of not having a long-term strategy regarding the consequences of assassinating General Suleimani. Does the United States in fact have a strategy in the Near East, or is it only ad hoc?
Of course American strategists will deny that the recent actions do not reflect a deliberate strategy, because their long-term strategy is so aggressive and exploitative that it would even strike the American public as being immoral and offensive if they came

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America Escalates its “Democratic” Oil War in the Near East

January 8, 2020

America Escalates its "Democratic" Oil War in the Near East | Michael Hudson

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Front Running

January 4, 2020

Front Running | Michael Hudson

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Keiser News Spin

November 18, 2019

[unable to retrieve full-text content]An interview with Max Keiser on the economic issues of the day:

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The new concept of ‘Reform’

November 4, 2019

In Berlin-Steglitz, last weekend, I spoke at an international financial conference on “The euro at 20: Macroeconomic challenges.”
There were a number of interviews in German (below). Here is the SNA radio interview (english) with Alexander Boos:

German article on US sanctions and Russia
German radio interview
unsplash-logoRoman Kraft

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Baltic perspectives with The Saker

October 20, 2019

Baltic perspectives with The Saker | Michael Hudson

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