Tag Archives: Articles

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...

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...

Democratizing Money – a discussion | Michael Hudson Your access to this site has been limited Your access to this service has been temporarily limited. Please try again in a few minutes. (HTTP response code 503) Reason: Exceeded the maximum global requests per minute for crawlers or humans. If you are a WordPress user with administrative privileges on this site please enter your email in the box below and click "Send". You will then receive an email that helps you regain access....

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...

Asset-Price Inflation and Rent Seeking | Michael Hudson Your access to this site has been limited Your access to this service has been temporarily limited. Please try again in a few minutes. (HTTP response code 503) Reason: Exceeded the maximum global requests per minute for crawlers or humans. If you are a WordPress user with administrative privileges on this site please enter your email in the box below and click "Send". You will then receive an email that helps you regain...

Your access to this site has been limited Your access to this site has been limited Your access to this service has been temporarily limited. Please try again in a few minutes. (HTTP response code 503) Reason: Exceeded the maximum global requests per minute for crawlers or humans. If you are a WordPress user with administrative privileges on this site please enter your email in the box below and click "Send". You will then receive an email that helps you regain access. Click here...

[embedded content] Trump’s claim that China is paying for the tariffs is completely false and basically serves to redirect income from his poor supporters to his wealthy supporters. Not only that, the policy will have the consequence of further isolating the United States, says Michael Hudson. unsplash-logoPang Yuhao

Control of oil has long been a key aim of U.S. foreign policy. The Paris climate agreements and any other Green programs to reduce the pace of global warming are viewed as threatening the aim of dominating world energy markets by keeping economies dependent on oil under U.S. control. Also blocking U.S. willingness to help stem global warming is the oil industry’s economic and hence political power. Its product is not only energy but also global warming, along with plastic...

Even He Can't Get Away With It | Michael Hudson Your access to this site has been limited Your access to this service has been temporarily limited. Please try again in a few minutes. (HTTP response code 503) Reason: Exceeded the maximum global requests per minute for crawlers or humans. If you are a WordPress user with administrative privileges on this site please enter your email in the box below and click "Send". You will then receive an email that helps you regain access....

Debts that can’t be paid, won’t be. That point inevitably arrives on the liabilities side of the economy’s balance sheet. But what of the asset side? One person’s debt is a creditor’s claim for payment. This is defined as “savings,” even though banks simply create credit endogenously on their own computers without needing any prior savings. When debts can’t be paid and debtors default, what happens to these creditors? As President Obama showed, banks and bondholders can be...