Warm up by watching the above, then read the latest from Michael Hudson, who is writing up a storm on the inside motivations to banksters bailouts world-wide. Michael Hudson as published on Global Research Banking shares began to plunge Friday morning after Senator Dodd, the Connecticut Democrat who is chairman of the banking committee, said in an interview with Bloomberg … Read More
Hudson on Obama’s Banking Bailout
Watch Michael Hudson blister Obama and his economic advisors on Democracy Now. Digest the hard hitting statements then read Hudson’s Counterpunch piece: Trying to Revive the Bubble Economy: Obama’s Awful Financial Recovery Plan By Michael Hudson Martin Wolf started off his Financial Times column for February 11 with the bold question: “Has Barack Obama’s presidency already failed?” The stock market … Read More
Ponzi, property and genuine wealth creation
photo credit: James Willamor Michael Hudson explores the analogous nature of Ponzi schemes and the property bubble. How is wealth created in the modern era? Through hard word, through who you know or what you ‘flip’? December 23, 2008 Last week the Good Lord evidently realized that not enough people had been reading Hyman Minsky’s explanation of how financial cycles … Read More
The Neo-Yeltsin Administration
photo credit: vaschenko Michael Hudson This article appeared in counterpunch. Reality had to raise its ugly head. Barack Obama was elected with overwhelming approval to inaugurate an era of change. And at his November 25 press conference, he said that his decisive victory gave him a mandate to change the direction in which America is moving. But his recent economic … Read More
Renegade Economists Podcast 59
photo credit: purpleye photography Join our growing list of renegades by downloading the podcast. Show Notes R59 Recorded Wed Oct 22nd The End of Industrial Capitalism – Professor Michael Hudson slates the US political hierarchy and the bankers bailout. Alice and Karl bounce off this with evidence from WA & China and how lower property taxes will deepen the ditch … Read More