Michael Hudson

[unable to retrieve full-text content]The United States’ Financial Quandary: ZIRP’s only Exit path is a Crash Abstract Interest-bearing debt grows exponentially, in an upsweep. The non-financial economy of production and consumption grows more slowly as income is diverted to carry the debt overhead. A crash occurs when a large part of the economy cannot pay its scheduled debt service. Continue Reading The post ZIRP’s only Exit path is a Crash first appeared on Michael...

[unable to retrieve full-text content]Its role always has been anti-democratic. Vested interests create “checks and balances” primarily to make political systems non-responsive to demands for social reform. Historically, therefore, the checks are politically unbalanced in practice. Instead of producing a happy medium, their effect often has been to check the power of the people to assert their interests at Continue Reading The post Should there really be a Supreme...

[unable to retrieve full-text content]Herodotus (History, Book 1.53) tells the story of Croesus, king of Lydia c. 585-546 BC in what is now Western Turkey and the Ionian shore of the Mediterranean. Croesus conquered Ephesus, Miletus and neighboring Greek-speaking realms, obtaining tribute and booty that made him one of the richest rulers of his time. But these victories and Continue Reading The post America has Just Destroyed a Great Empire first appeared on Michael Hudson.

[unable to retrieve full-text content]A new Third World debt crisis? The need for system change   RADHIKA DESAI: Hello and welcome to this 12th Geopolitical Economy Hour, the fortnightly show on the political and geopolitical economy of our times. I’m Radhika Desai. MICHAEL HUDSON: And I’m Michael Hudson. RADHIKA DESAI: And today we are joined by Anne Pettifor to Continue Reading The post Third World-Like Debt Crisis first appeared on Michael Hudson.

[unable to retrieve full-text content]Discussion by Michael Hudson with Kin Chi Lau, Global University, Hong Kong, June 5, 2023 There’s a big dam on the Dnieper River that supplies all of the water to Crimea and they blow it up. Thousands of homes have been flooded. Naturally, the Ukrainians said the Russians did it. The reason that Crimea was Continue Reading The post Yellen’s Daydream first appeared on Michael Hudson.

[unable to retrieve full-text content]Patrick Lovell Hi, my name is Patrick Lovell, and I want to welcome you to our latest effort in this podcast that I find myself incredibly compelled to do considering the confusion that we’re all in the midst of. I’m a producer of a five part docuseries known as The Con that is currently available Continue Reading The post A Peculiar Grift first appeared on Michael Hudson.

[unable to retrieve full-text content]Michael Hudson | A piece of advice: Buying U.S. debt is to provide ammunition for U.S. military expansion Source: Observer Network 2023-06-01 08:01 The June 5 deadline referred by US Treasury Secretary Janet Yellen has fallen, and the US debt ceiling negotiations have entered the final congressional voting juncture. House Speaker McCarthy, who was eager Continue Reading The post Buying US Debt Subsidizes Imperialism first appeared on Michael Hudson.

[unable to retrieve full-text content]Recorded on 2023-03-02 Join our next Patreon discussion Thurs June 8, 530pm as a Patreon subscriber. We have 256 patreons supporting 6,000 visitors to this site per day. KARL FITZGERALD: Welcome everyone to our quarterly Q&A session here with our beloved Patreon supporters. Thank you so much for supporting Michael and his work as he Continue Reading The post On Obama, Castro & General McArthur first appeared on Michael Hudson.

[unable to retrieve full-text content]RADHIKA DESAI: Hello and welcome to the 10th Geopolitical Economy Hour, the fortnightly show in which we discuss the political and geopolitical economy of our times. I’m Radhika Desai. MICHAEL HUDSON: And I’m Michael Hudson. RADHIKA DESAI: And as last time, we have once again with us today, Professor Mick Dunford, professor emeritus at Sussex Continue Reading The post Achieving by Undermining first appeared on Michael Hudson.

[unable to retrieve full-text content]“Origins of debt: Michael Hudson reveals how financial oligarchies in Greece & Rome shaped our world,” Ben Norton, Geopolitical Economy Report, May 25, 2023.  BEN NORTON: Hi, everyone. I’m Ben Norton of Geopolitical Economy Report, and today I have the great pleasure of speaking with a friend of the show, the economist Michael Hudson, and Continue Reading The post The Arc of Time: Pro-Creditor History first appeared on...