Podcast appearances and mentions of Michael Hudson

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Best podcasts about Michael Hudson

Latest podcast episodes about Michael Hudson

theAnalysis.news
Michael Hudson: Biden Between BlackRock and a Hard Place

theAnalysis.news

Play Episode Listen Later Oct 20, 2021 51:16


The Biden Administration is intertwined with Wall Street but must deliver some election promises to workers. Michael Hudson joins Paul Jay on theAnalysis.news.

Moderate Rebels
Super Imperialism: The Economic Strategy of American Empire with Michael Hudson

Moderate Rebels

Play Episode Listen Later Oct 16, 2021 86:37


Max Blumenthal and Ben Norton speak with economist Michael Hudson about his book "Super Imperialism: The Economic Strategy of American Empire." Professor Hudson just published a 3rd edition that updates his analysis for the 21st century, discussing the new cold war on China and Russia and the ongoing transition from a US dollar-dominated financialized system to a "multipolar de-dollarized economy." VIDEO: https://youtube.com/watch?v=Uiz934HVZjY Michael Hudson's website: michael-hudson.com

Business Leadership Series
Episode 1056: BLS Minute - Michael Hudson

Business Leadership Series

Play Episode Listen Later Oct 12, 2021 3:41


 Michael Hudson is a strategic advisor, consultant, & speaker who helps leaders and influencers be heard and understood when the stakes are high. Michael has a powerful story that he shares, going through some very tough challenges from an early age, and now sharing his story to help others. 

Savage Minds Podcast
Michael Hudson

Savage Minds Podcast

Play Episode Listen Later Oct 12, 2021 64:18


Michael Hudson, American economist and author of Super Imperialism: The Economic Strategy of American Empire (1972) discusses the rentier economy that accounts for the growing disparity in wealth due to finance capitalism. Giving a history of the the polarisation of the US economy since the 1960s through the present, Hudson discusses how the high costs of education and housing have led to a growing problem of student debt, higher costs of living and increasing austerity. Noting how 80% of bank loans are made for real estate in the US, Hudson expounds upon how loans and exponentially growing debts outstrip profits from the economy proving disastrous for both the government and the people who are paying increasing amounts on housing with little to no money left to spend on goods and services. Hudson contends that finance capitalism is a “self-terminating” oligarchical system leaving workers traumatised, afraid to strike or react to working conditions, while they are pushed towards serfdom as US and Europe are heading towards a debt crisis on par with that of Argentina and Greece.TranscriptIntroduction: Welcome to Savage Minds. I'm your host, Julian Vigo. Today's show marks the launch of our second season with a very special guest: Michael Hudson. Michael Hudson is a financial analyst and president of the Institute for the Study of long term economic trends. He is a distinguished research professor of economics at the University of Missouri Kansas City, and the professor at the School of Marx studies, Peking University in China. He's also a research fellow at the Levy Institute of Bard College, and he has served as an economic adviser to the US Canadian, Mexican, and Latvian governments. He's also been a consultant to UNITAR, the Institute for Research on Public Policy and the Canadian Science Council, among other organisations. He holds a BA from the University of Chicago and an MA and PhD in economics from New York University. Professor Hudson is the author of Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy (2015), and most recently, J is for junk economics, a guide to reality in an age of deception. His super imperialism, the economic strategy of the American Empire has just been translated into German after its appearance in Chinese, Japanese and Spanish. He sits on the editorial board of lap times quarterly and has written for the Journal of International Affairs, Commonweal, International Economy, Financial Times, and Harper's, and he's a regular contributor to CounterPunch. I welcome Michael Hudson, to Savage Minds.Julian Vigo: Class analysis in the United States is rather subterfuge amidst all these other narratives of the American dream as it's framed—that being the right to own one's home. In the UK, that became part of the Trojan horse, that Thatcher built to win her election. It was a very smart move. She won that election—she won her elections—by the reforms in the “right to buy” scheme as I'm sure you know. I t was really clever and disastrous for human rights in the country. I've spent quite a bit of my life in the UK and to see that in 1979 was, I believe, 49% of all residential housing was council housing. And when I wrote a piece on this for the Morning Star about eight, nine years ago, that rate was reduced to under 11%. So we're seeing the haves- and have-nots. And this is where your work really struck a chord for me. And let's kick into the show at this point. I have written over the years, about rentier capitalism, a term that is increasingly used to describe economies dominated by rentier, rents and rent-generating assets. And you discuss this quite a bit in your work, more recently, your article from July, “Finance Capitalism versus Industrial Capitalism: The Rentier Resurgence and Takeover.” And in this article, you discuss how today the finance, insurance and real estate sectors have regained control of government creating a “neo-rentier” economy as you put it, while you note—and I quote you: “The aim of this postindustrial finance capitalism is the opposite of industrial capitalism as known to nineteenth-century economists: it seeks wealth primarily through the extraction of economic rent, not industrial capital formation.” Unquote. I was wondering if we might begin our talk by branching out from this piece you wrote in July. And if you could explain for our listeners why discerning rentier capitalism is essential for understanding the global push to privatise and financialise those sectors that formerly existed in the public domain such as—and we see this everywhere, including in the EU—transportation, health care, prisons, policing, education, the post office, etc.Michael Hudson: Well, most textbooks depict a sort of happy world that almost seems to exist in the 1950s. And this “happy world” is when wealthy people get money, they build factories and buy machinery and hire workers to produce more goods and services. But that's not what the credits created for today, it's the textbooks that pick the banks that take in people's deposits and lend them out to people who build industrial production, and you'll have a picture of workers with lunchboxes working in. But actually, banks only lend money against assets. And the main assets do not make a profit by employing people to produce things there. They simply are opportunities to extract rent, like real estate 80% of bank loans are made for real estate. And that means they're made against primarily buildings that are in land that are already there. And the effective more and more bank credit is to raise the price of real estate. And in the United States, in the last year, housing prices have gone up 20%. And typically, in America, if you go to a bank and take out a loan, the government is going to guarantee the bank that you will pay the loan up to the point where it absorbs 43% of your income.So here's a big chunk of American income going to pay simply for housing, those price increases, not because there's more housing, or better housing. But in fact, the housing is built worse and worse every year, by lowering the standards, but simply inflation. There are other forms of rent, other people pay, for instance, 18% of America's GDP is healthcare, much higher than the percentage in any other country for much lower quality of service. So you know, that's sort of taken out of people's budgets. If you're a worker in the United States, right away, you get your paycheque 15%—a little more, maybe 16% now—is deducted for Social Security and medical care for when you're older. They also need up to maybe 30%, for income tax, federal, state and local income tax before you have anything to spend. And then you have to spend for housing, you have to pay for transportation, you have to pay for your own medical insurance contributions, your own pension contributions. So there's very, very little that is left over in people's budgets to buy goods and services. Not only have real wages in the United States, gone down now for three decades, but the disposable income that people and families get after they meet their sort of monthly “nut,” what they can spend on goods and services is shrunk even more. So while they're getting squeezed, all this money is paid to rentiers as at the top. And because of the miracle of compound interest, the amount that the 1% of the economy has grows exponentially. Any rate of interest is a doubling time. And even though people know that there's only a 0.1% rate of interest, now for the banks, and for large wall firms, it's about 3% if you want to buy a mortgage. and so this, the 0.1% is lent out to large companies like Blackstone that are now buying up almost all of the housing that comes onto the market in the United States. So in 2008, 69% of homeowners of Americans own their own homes. Now it's fallen by more than 10%. It's fallen to about 51%. All this difference has been basically the financial sector funding a transformation away from home ownership into landlordship—into absentee ownership. And so the if you're part of the 1%, the way that you make money is by buying stocks or bonds, or corporate takeovers, or buying real estate and not building factories. And that's why the factories and the industry have been shifting outside of the United States over to China, and other countries. So, what we're having is a kind of…I won’t say its post-industrial capitalism, because people thought that the what was going to follow industrial capitalism was going to be socialism. They thought that there will be more and more government spending on providing basic needs that people had. And instead of socialism, and a more, egalitarian distribution of wealth and income, you've had a polarization of wealth and income, you've had the wealthy people making money financially, and by real estate, and by rent seeking, and by creating monopolies, but not by building factories, not by producing goods and services. And that is why the economy's polarizing, and so many people are unhappy with their conditions. Now, they're going further and further into debt and their student debt. Instead of education here being a public utility that's provided freely, it's become privatised at NYU, it's now $50,000 or $60,000 a year. There is no way in which the United States can compete industrially with other countries when they've loaded down new entrants into the labor force with huge housing costs, student debt, huge taxes have been shifted off the 1% onto the 99%. So in the United States, finance capitalism basically is self-terminating. It leads to a polarised economy, it leads to austerity. And it leaves countries looking like Greece looked after 2015, after its debt crisis, it looks like Argentina is trying to struggle to pay its foreign debts. And that seems to be the future in which the US and Europe are moving towards.Julian Vigo: I posted on my Facebook wall about this about maybe five weeks ago, that the rentier class, I'm not just including the likes of Blackstone, but the middle class that are multiple home dwellers. I noted that during the lockdown, I was reading through accounts on social media of people who were being threatened by landlords, landlords, who actually had no mortgage to pay. And I had to wonder at that point, what is the input of the rentier class by the landowning class who are not necessarily part of the 1%. These are people who, as some of these people came on my wall and said, “I worked hard to buy my second and third houses!” And I thought, “Well, let me pull out my violins.” One thing that really alerted me during lockdown was the lack of sympathy for renters. And I don't just mean in the US, in fact, I think the US had a kinder response to renting in some sectors such as New York state where there has been—and still—is a massive pushback against any form of relaxation of rent forgiveness, since lockdown in the EU and Italy and France. It's appalling the kind of treatment that renters received here. I spoke to people in Bologna, who were doing a rent strike, but fearful of having their name mentioned. I ended up not being able to run the piece because of that. And there are so many people who don't have money to pay their rent in the EU, in the UK, and yet, we're somehow focusing oftentimes on these meta-critical analyses of the bigger corporations, the 1%. But where does the middle class fit into this, Michael, because I do have to wonder if maybe we should be heading towards the model I hold in my mind and heart is St. Ives in Cornwall, which about eight years ago set a moratorium saying no second homes in this city. Now, they didn't do it because of any allegiance to Marxism or socialism. They did it in part because of that, and because of a left-leaning politics, but mostly because they didn't want to have a ghost town that when the summer was over, you had very few people living in town. What are the answers to the rentier class that is also composed of people who consider themselves hard-working people who just want someone else to pay for their house, as one person on Twitter, put it.Michael Hudson: This is exactly the problem that is plaguing left wing politics, from Europe to America in the last fifty years.Julian Vigo: Exactly. It's astounding because there was a lot of debate on Twitter around last summer, when one woman wrote, I just did the math, I'm almost 29 years old, and I paid and she listed the amount in rent, I have just bought my landlord a second house. And people are adding it up that we are back to understanding. And I think in terms of the medieval period, remember in high school in the US when you study history, and you learn about feudalism, and the serfs coming in from far afield having to tend to the Masters terrain. And I think, are we heading back to a kind of feudalism under a new name? Because what's dividing those who can afford rents and those who can, it's not only your eligibility to receive a bank loan in this climate, which is quite toxic in London. I know many architects, lawyers, physicians who cannot get bank loans. Ironically, the bar is being raised so high that more and more people in London are moving on to the canal system—they're renting or buying narrowboats. The same is happening in other parts of the world where people are being barred out of home ownership for one reason or another and at the same time, there's a class of people often who got loans in a period when it was quite easy in the 80s and early 90s, let's say and they hold a certain control over who's paying—43% of income of Americans goes on housing. And as you know, in New York City that can be even higher. How can we arrive at a society where there's more equality between these haves and have-nots? Because it seems that the middle class is playing a role in this. They're trying to come off as being the hard-working schmoes, who have just earned their right to own their second or third homes, and then the others who will never have a foot on that ladder, especially given the crash?Michael Hudson: Well, I think you've put your finger on it. Most people think of economies being all about industry. But as you've just pointed out, for most people, the economy is real estate. And if you want to understand how modern economies work, you really should begin by looking at real estate, which is symbiotic with with banking, because as you pointed out that in a house is worth whatever a bank will lend. And in order to buy a house, unless you have an enormous amount of savings, which hardly anyone has, you'll borrow from a bank and buy the house. And the idea is to use the rent to pay the interest to the bank. And then you end up hoping late hoping with a capital gain, which is really land price gain. You borrow from the bank hoping that the Federal Reserve and the central bank or the Bank of England is going to inflate the economy and inflate asset prices and bank credit is going to push prices further and further up. As the rich get richer, they recycle the money in the banks and banks lend it to real estate. So, the more the economy is polarised between the 1% and the 99%, the more expensive houses get the more absentee landlords are able to buy the houses and outbid the homebuyers, who as you pointed out, can't get loans because they're already loaned up. If they can't get loans in England to buy a house, it's because they already owe so much money for other things. In America, it would be because they own student debt or because they own other bank loans, and they're all loaned up. So the key is people are being squeezed more than anywhere else on housing. In America, it rents care too and on related sort of monopoly goods that yield rent. Now the problem is why isn't this at the centre of politics?Is it because— and it's ironic that although most people in every country, Europe and America are still homeowners, or so they only own their own home—they would like to be rocky as a miniature? They would like to live like the billionaires live off the rents. They would like to be able to have enough money without working to get a free lunch and the economy of getting a free lunch. And so somehow, they don't vote for what's good for the wage earners. They vote for well, if I were to get richer, then I would want to own a house and I would want to get rent. So I'm going to vote in favour of the landlord class. I'm going to vote in favour of banks lending money to increase housing prices. Because I'd like to borrow money from a bank to get on this treadmill, that's going to be an automatic free lunch. Now, I not only get rent, but I'll get the rising price of the houses that prices continue to rise. So somehow, the idea of class interest, they don't think of themselves as wave generators, they think of themselves as somehow wouldn't be rentiers in miniature without reaising that you can't do it in miniature. You really have to have an enormous amount of money to be successful rentier.So no class consciousness means that the large real estate owners, the big corporations like Blackstone, that own huge amounts can sort of trot out a strapped, homeowner and individual, and they will sort of hide behind it and say, “Look at this, poor family, they use their money to buy a house, the sort of rise in the world, and now the tenants have COVID, and they can't pay the rent. Let's not bail out these, these landlords.” So even though they're not getting rent, we have to aid them. And think of them as little people, but they're not little people. They're a trillion dollar, money managers. They're huge companies that are taking over. And people somehow personify the billionaires and the trillion dollar real estate management companies as being small people just like themselves. There's a confusion about the economic identity.Julian Vigo: Well, certainly in the United States, we are known to have what's called the “American dream.” And it's, it's quite interesting when you start to analyse what that dream has morphed into, from the 1960s to the present, and I even think through popular culture. Remember Alexis, in Dynasty, this was the go-to model for success. So we've got this idea that the super rich are Dallas and Dynasty in the 80s. But 20 years after that, we were facing economic downfalls. We had American graduates having to go to graduate school because they couldn't get a job as anything but a barista. And the model of getting scholarships or fellowships, any kind of bursary to do the Masters and PhD. When I was doing my graduate work, I was lucky enough to have this, but that was quickly disappearing. A lot of my colleagues didn't have it. And I imagine when you went to school, most of your colleagues had it. And today, and in recent years, when I was teaching in academia, most of my students doing advanced degrees had zero funding. So, we've got on the one hand, the student debt, hamster wheel rolling, we have what is, to me one of the biggest human rights issues of the domestic sphere in countries like the US or Great Britain, frankly, everywhere is the ability to live without having to be exploited for the payment of rent. And then we have this class of people, whether they're Blackstone, and huge corporations, making billions, or the middle class saying, “But I'm just living out the American dream.” How do we square the “American dream,” and an era where class consciousness is more invisible than ever has it been?Michael Hudson: I think the only way you can explain that is to show how different life was back in the 1960s, 1950s. When I went to school, and the college, NYU cost $500 a semester, instead of 50,000, that the price of college has gone up 100 times since I went to college—100 times. I rented a house in a block from NYU at $35 a month on Sullivan Street. And now that same small apartment would go for 100 times that much, $3,500 a month, which is a little below the average rent in Manhattan these days. So, you've had these enormous increases in the cost of getting an education, they cost of rent, and in a society where housing was a public utility, and education was a public utility, education would be provided freely. If the economy wanted to keep down housing prices, as they do in China for instance, then you would be able to work if the kind of wages that Americans are paid today and be able to save. The ideal of China or countries that want to compete industrially is to lower the cost of living so that you don't have to pay a very high wages to cover the inflated cost of housing, the cost of education.If you privatise education in America, and if you increase the housing prices, then either you're going to have to pay labor, much higher rates that will price it out of world markets, at least for industrial goods, or you'll have to squeeze budgets. So yes, people can pay for housing, and education, but they're not going to buy the goods and services they produce. And so and that's one of the reasons why America is not producing industrial manufacturers. It's importing it all abroad. So the result of this finance capitalism that we have the result of the rent squeeze, that you depict, and the result of voters not realising that this is economic suicide for them is that the economy is shrinking and leaving people basically out in the street. And of course, all of this is exacerbated by the COVID crisis right now. Where, right now you have, especially in New York City, many people are laid off, as in Europe, they're not getting an income. Well, if your job has been closed down as a result of COVID, in Germany, for instance, you're still given something like 80% of your normal salary, because they realise that they have to keep you solvent and living. In the United States, there's been a moratorium on rents, they realise that, well, if you've lost your job, you can't pay the rent. There's a moratorium on evictions, there's a moratorium on bank foreclosures on landlords that can't pay their mortgage to the bank, because their tenants are not paying rent. All of that is going to expire in February, that’s just in a few months.  So they're saying, “OK, in New York City, 50,000 tenants are going to be thrown out onto the street, thousands of homes are going to be foreclosed on.” All over the country, millions of Americans are going to be subject now to be evicted. You can see all of the Wall Street companies are raising private capital funds to say, “We're going to be waiting for all this housing to come onto the market. We're going to be waiting for all of these renovations to take place. We're going to swoop in and pick it up.” This is going to be the big grab bag that is going to shape the whole coming generation and do to America really what Margaret Thatcher did to England when she got rid of—when she shifted from housing, the council housing that you mentioned, was about half the population now dow to about 1/10 of the population today.Julian Vigo: This is what I wonder is not being circulated within the media more frequently. We know that major media is not...[laughts] They like to call themselves left-of-centre but they're neoliberal which I don't look at anything in the liberal, the neoliberal sphere, as “left.” I look at it as a sort of strain of conservatism, frankly. But when you were speaking about paying $35 a month for an apartment on Sullivan Street, get me a time machine! What year was that? Michael?Michael Hudson: That was 1962.Julian Vigo: 1962 And roughly, the minimum wage in New York was just over $1 an hour if I'm not mistaken.Michael Hudson: I don't remember. I was making I think my first job on Wall Street was 50 to $100. A year $100 a week.Julian Vigo: So yes, I looked it up because I was curious when you said 100 times certainly we see that. If the tuition at New York when and New York University when I left was $50,000 a year you were paying $500 a semester. This is incredible inflation.Michael Hudson: And I took out a student loan from the state because I wanted to buy economic books. I was studying the history of economic thought and so I borrowed, you know, I was able to take out a loan that I repaid in three years as I sort of moved up the ladder and got better paying jobs. But that was the Golden Age, the 1960s because in that generation there was the baby boom that just came online. There were jobs for everybody. There was a labor shortage. And everybody was trying to hire—anyone could get a job. I got to New York and I had $15 in my pocket in 1960. I'd shared a ride with someone, [I] didn't know what to do. We stayed in a sort of fleabag hotel on Bleecker Street that was torn down by the time you got there. But I,  took a walk around and who should I run into that Gerde's Folk City, but a friend of mine had stayed at my house in Chicago once and he let me stay at his apartment for a few weeks till I can look around, find a place to live and got the place for $35 a month,Julian Vigo: When there was that debate on Twitter—there were many debates actually about renting on Twitter—and there were a few landlords who took to Twitter angry that they learned that their renters had received subsidies in various countries to pay their rent. And instead of paying their rent, the people use this to up and buy a downpayment on a home. And they got very upset. And there was a bit of shadow on Friday there with people saying, “Well, it's exactly what you've done.” And I find this quite fascinating, because I've always said that the age of COVID has made a huge Xray of our society economically speaking. And it's also telling to me that in countries that I would assume to be more socialist leaning, if not socialist absolutely, in the EU, we saw very few movements against rent. Very few people or groups were calling for a moratorium on rent. It's ironic, but it was in the US where we saw more moratoria happen. What is happening where—and this reaches to larger issues, even outside of your specialty of economics and finance—but why on earth has it come to be that the left is looking a lot more like the right? And, don't shoot me, but you know, I've been watching some of Tucker Carlson over the past few years, someone who I could not stand after 9/11. And he has had more concern and more investigations of the poor and the working class than MSBC or Rachel Maddow in the biggest of hissy fits. What is going on politically that the valences of economic concern are shifting—and radically so?Michael Hudson: Well, the political situation in America is very different from every other country. In the Democratic Party, in order to run for a position, you have to spend most of your time raising money, and the party will support whatever candidates can raise the most money. And whoever raises the largest amount of money gets to be head of a congressional committee dealing with whatever it is their campaign donors give. So basically, the nomination of candidates in the United States, certainly in the Democratic Party, is based on how much money you can raise to finance your election campaign, because you're supposed to turn half of what you raised over to the party apparatus. Well, if you have to run for an office, and someone explained to me in in the sixties, if I wanted to go into politics, I had to find someone to back up my campaign. And they said, “Well, you have to go to the oil industry or the tobacco industry.”And you go to these people and say, “Will you back my campaign?” And they say, Well, sure, what's your position going to be on on smoking on oil and the the tax position on oil, go to the real estate interest, because all local politics and basically real estate promotion projects run by the local landlords and you go to the real estate people and you say, “Okay, I'm going to make sure that we have public improvements that will make your land more valuable, but you won't have to pay taxes on them.” So, if you have people running for office, proportional to the money they can make by the special interests, that means that all the politicians here are representing the special interests that pay them and their job as politicians is to deliver a constituency to their campaign contributors. And so the campaign contributors are going to say, “Well, here's somebody who could make it appear as if they're supporting their particular constituency.” And so ever since the 60s, certainly in America, the parties divided Americans into Irish Americans, Italian Americans, black Americans, Hispanic Americans. They will have all sorts of identity politics that they will run politicians on. But there's one identity that they don't have—and that's the identity of being a wage earner. That's the common identity that all these hyphenated Americans have in common. They all have to work for a living and get wages, they're all subject to, they have to get housing, they have to get more and more bank credit, if they want to buy housing so that all of the added income they get is paid to the banks as mortgage interest to get a home that used to be much less expensive for them. So basically, all of the increase in national income ends up being paid to the campaign contributors, the real estate contributors, the oil industry, the tobacco industry, the pharmaceuticals industry, that back the politicians. And essentially, you have politics for sale in the United States. So we're really not in a democracy anymore—we're in an oligarchy. And people don't realise that without changing this, this consciousness, you're not going to have anything like the left-wing party.And so you have most Americans out wanting to be friendly with other Americans, you know, why can't everybody just compromise and be in the centre? Well, there's no such thing as a centrist. Because you'll have an economy that's polarising, you have the 1% getting richer and richer and richer by getting the 99% further and further in debt. So the 99% are getting poorer and poor after paying their debts. And to be in the centre to say, and to be say, only changes should be marginal, that means—a centrist is someone who lets this continue. With that we're not going to make a structural change, that's radical, we're not going to change the dynamic that is polarising the economy, between creditors at the top and debtors is at the bottom, between landlords at the top and renters at the bottom between monopolists and the top and the consumers who have to pay monopoly prices for pharmaceuticals, for cable TV, for almost everything they get. And none of this is taught in the economics courses. Because you take an  economics course, they say, “There's no such thing as unearned income. Everybody earns whatever they can get.” And the American consciousness is shaped by this failure to distinguish between earned income and unearned income and a failure to see that dynamic is impoverishing them. It's like the proverbial frog that's been boiled slowly in water. So, with this false consciousness people have—if only they can save enough and borrow from a bank—they can become a rentier in Miniature. They're just tricked into a false dream.Intermission: You're listening to savage minds, and we hope you're enjoying the show. Please consider subscribing. We don't accept any money from corporate or commercial sponsors. And we depend upon listeners and readers just like you. Now back to our show.Julian Vigo: I don't know if you saw the movie called Queen of Versailles. It was about this very bizarre effort to construct a very ugly Las Vegas-style type of Versailles by a couple that was economically failing. And it spoke to me a lot about the failings of the quote unquote, “American dream.” And I don't mean that dream, per se. I mean, the aspiration to have the dream, because that is, as you just pointed out, unearned income, that is the elephant in the room. And it almost seems to be the elephant maybe to keep using that metaphor, that the blind Sufi tale: everyone's feeling a different part of it, but no one is naming it. And I find this really shocking, that we can't speak of unearned income and look at the differences as to which country's tax inheritance and which do not—this idea that one is entitled to wealth. Meanwhile, a lot of US institutions are academically, now formally, being captured by the identity lobbies and there are many lobbies out there—it's a gift to them. They don't have to work on the minimum wage, they don't have to work on public housing, they don't have to work on housing.They can just worry about, “Do we have enough pronoun badges printed out?” And I find this really daunting as someone who is firmly of the left and who has seen some kind of recognition have this problem bizarrely, from the right. We seem to have a blind spot where we're more caught up in how people see us, rather than the material reality upon which unearned and earned income is based. Why is it that today people are living far worse than their grandparents and parents especially?Michael Hudson: Well, I think we've been talking about that, because they have to pay expenses as their parents and grandparents didn't have to pay, they have to pay much higher rent. Everybody used to be able to afford to buy a house, that was the definition of “middle class” in America was to be a homeowner. And when I was growing up in the 50s and 60s, everybody on the salary they were getting could afford to buy their house. And that's why so many people bought the houses with working class sell rates. As I told you, I was getting $100 a week. At least if you were quiet you could do it. If you were black, you couldn't do it. The blacks were redlined. But the white people could buy the houses. And that's why today, the white population has so much more wealth than the black population, because the white families would leave the house to the children and housing prices have gone up 100 times. And because they've gone up 100 times, this is endowed with a whole white hereditary class of kids whose family own their own homes, send them to schools. But America was redlined. Now Chicago was redlined, blacks were redlined. In New York City, the banks would not lend money to black neighbourhoods or to black borrowers. I was at Chase Manhattan and they made it very clear: they will not make a loan to a mortgage if they're black people living in my block. And they told me that when I was on Second Street and Avenue B. I won't repeat the epithet racist epithets they used. But what has caused the racial disparity today is what we've been talking about: the fact that whites could buy their own homes, blacks could not.And the reason I'm bringing this up is that if—we're working toward a society where white people are now going to be reduced to the position that black people are in today: of not having their own homes, of not being able to get bank credit. One friend of mine at the Hudson Institute, a black economist, wanted to—we were thinking of cowriting a book, The Blackening of America. The state of, well, the future of the whites, is to become blacks if you don't solve this situation. And I've been unable to convince many black leaders about reparations—that the reparations, very hard to get reparations for slavery, which was to their grandparents, their reparations are due to the blacks today who do not have housing, their own homes, because of the redlining that they have been experiencing right down to today.So, you have this, you do have a separation in this country. But this is not the kind of hyphenated politics that the politicians talk about. Not even the black politicians, the fact that if you're going to hyphenated American, how did this hyphenisation affect the real opportunities for real estate, for homeownership, for education, and all of these other things. I think maybe if people begin to think as to how there is a convergence of what was diverging before—now you're having the middle class pushed down into its real identity which was a dependent wage-earning class all along—you're going to have a change of consciousness. But we're still not to that. People don't realise this difference.And at the top of the pyramid, at New York University, for instance, where we both went to school, I have professor friends there and there was recently an argument about getting more salaries for professors, because they're hiring adjunct professors at very low prices instead of appointing them full time. And one professor turned to my friend and said, “They’re treating us like wage earners.” And my friend said, “Yes, you are a wage earner. You’re dependent on the wage you get from New York University.” And he said, “But I’m a professor,” as if somehow being a professor doesn't mean that you're not a wage earner, you're not dependent on salary, you're not being exploited by your employer who's in it to make money at your expense.Julian Vigo: Oh, absolutely. We've got the push from NYU in the 1990s by adjunct professors to get health insurance, and to have a certain modicum of earnings that would allow them to pay rent in an extremely expensive city. I find it amazing how many of my students at the time had no idea how much I was being exploited at the time, I was at lunch after the graduation of two of my students, they invited me to lunch, and they were having a discussion about how well we must be paid. And I laughed. I didn't go into the details of my salary. But later in later years, they came to understand from other sources, how exploitation functions within the university where they were paying almost quarter of a million to go to school, and graduate school, and so forth. So it's quite shocking that even though we have the internet and all the information is there, anyone can see precisely how much NYU or Columbia cost today, or how much the cost of living is, as opposed to 1961, for instance, that people are still not putting together that when you have housing, that is like income. For most of us, if housing is affordable, the way one lives, the efficiency to live, the ease, the mental health, and physical health improves. And it's fascinating to me that during lockdown, people were told, just to bite the bullet, stay inside, and how many publications, how much of the media went out to discover the many people being locked down in extremely small hovels? Multiple families living in three bedroom houses, even smaller. And I just kept thinking throughout these past 20 months or so that the media has become complicit in everything you've discussed, we've seen an extra tack added on where the media is another arm of industry and the 1% they are able sell lockdown stories: stars singing, Spaniards singing, accordionists from Neapolitan balconies, everyone's happy. But that was a lie. And that was a lie being sold conveniently.I regularly post stories from CNN, where their recent yacht story—they love yachts—their recent yacht story from about five or six days ago was how the super-rich are “saving” the world's ecology. And it was a paid advertisement of a very expensive yacht that uses nuclear power, what you and I hope: that all the rich people are running around with little mini nuclear reactors on the seas. And I keep thinking: what has happened that you mentioned campaign financing? Remember what happened to Hillary Clinton when she suggested campaign finance reform? That went over like a lead balloon. And then we've got CNN, Forbes, all these major publications that run paid sponsored news articles as news. It's all paid for, they legally have to see it as but you have to find the fine print. And we're being sold the 1% as the class that's going to save the planet with this very bizarre looking yacht with a big ball on it. And another another CNN article about yacht owners was about how it's hard for them to pay for maintenance or something and  we're pulling out our tiny violins.And I keep wondering, why is the media pushing on this? We can see where MSNBC and CNN and USA today are heading in a lot of their coverage over class issues. They would much rather cover Felicity Huffman, and all those other stars’ children's cheating to get into a California University scandal which is itself its own scandal, of course. That gets so covered, but you rarely see class issues in any of these publications unless it refers to the favelas of Brazil or the shanty towns of Delhi. So, we're sold: poverty isn't here, it's over there. And over here, mask mandates, lock up, shut your doors stay inside do your part clap for the cares and class has been cleared. Cut out. Even in the UK, where class consciousness has a much more deeply ingrained fermentation, let's say within the culture, it's gone. Now the BBC. Similarly, nightly videos at the initial part of lockdown with people clapping for the cares. Little was said about the salaries that some of these carriers were getting, I don't mean just junior doctors there, but the people who are cleaning the hallways. So, our attention has been pushed by the media away from class, not just the politicians doing the dirty work, or not just the nasty finance campaign funding that is well known in the US. What are some of the responses to this, Michael, that we might advance some solutions here? Because my worry, as a person living on this planet is enough is enough: Why can't we just try a new system? Is it that the fall of the Berlin Wall left a permanent divide in terms of what we can experiment with? Or is there something else at play?Michael Hudson: Well, recently, Ukraine passed a law about oligarchs, and they define an oligarchy as not only owning a big company, but also owning one of the big media outlets. And the oligarchy in every country owns the media. So, of course, CNN, and The New York Times and The Washington Post, are owned by the billionaire class representing the real estate interests and the rentier interests. They're essentially the indoctrination agencies. And so of course, in the media, what you get is a combination of a fantasy world and Schadenfreude—Schadenfreude, when something goes wrong with people you don't like, like the scandal. But apart from that, it's promoting a fantasy, about a kind of parallel universe about how a nice world would work, if everybody earned the money that they had, and the wealth they had by being productive and helping society. All of a sudden, that's reversed and [they] say, “Well, they made a lot of fortune, they must have made it by being productive and helping society.” So, everybody deserves the celebrity, deserves the wealth they have. And if you don't have wealth, you're undeserving and you haven't made a productivity contribution. And all you need is to be more educated, managerial and intelligent, and you can do it. And it doesn't have anything to do with intelligence. As soon as you inherit a lot of money, your intelligence, your IQ drops 10%. As soon as you don't have to work for a living and just clip coupons, you write us down another 30%. The stupidest people I've met in my life are millionaires who don't want to think about how they get their money. They just, they're just greedy. And I was told 50 years ago, “You don't need to go to business school to learn how to do business. All you need is greed.” So what are all these business schools for? All they're doing is saying greed is good and giving you a patter talk to say, “Well, yeah, sure, I'm greedy. But that's why I'm productive.” And somehow they conflate all of these ideas.So, you have the media, and the educational system, all sort of combined into a fantasy, a fantasy world that is to displace your own consciousness about what's happening right around you. The idea of the media is that you don't look at your own position, you imagine other people's position in another world and see that you're somehow left out. So, you can say that the working class in America are very much like the teenage girls using Facebook, who use it and they have a bad self image once they use Facebook and think everybody else is doing better. That's the story in Congress this week. Well, you can say that the whole wage earning class once they actually see how awful the situation is they think, “Well, gee, other people are getting rich. Other people have yard spots, why don't I have my own house? Why am I struggling?” And they think that they're only struggling alone, and that everybody else is somehow surviving when other people are struggling just the way they are. That's what we call losing class consciousness.Julian Vigo: Yes, well, we're back to Crystal and Alexis wrestling and Dynasty’s fountain. Everyone wants to be like them. Everyone wants a car. You know, I'll never forget when I lived in Mexico City. One of the first things I learned when you jumped into one of those taxis were Volkswagen beetles,  Mexicans would call their driver “Jaime.” And I said to them, why are you guys calling the taxi drivers here “Jaime”? And they said, “We get it from you.” And I said, “What do you mean you get it from us? We don't call our taxi drivers Jaime.”And then I thought and I paused, I said,  “James!” Remember the Grey Poupon commercials? That's what we do—we have James as the driver in a lot of these films that we produced in the 1970s and 80s. And the idea became co-opted within Mexico as if everyone has a British driver named James.Now, what we have turned into from this serialised, filmic version of ourselves to the present is dystopic. Again, you talked about the percentage of rent that people are paying in the US, the way in which people are living quite worse than their parents. And this is related to student debt, bank debt, credit card debt, we've had scandals directly related to the housing market. We saw that when there were people to be bailed out, they had to be of the wealthy class and companies to be bailed out. There was no bailout for the poor, of course. I was in London during the Occupy Wall Street. In London, it was “occupy the London Stock Exchange” (Occupy LSX) right outside of not even the London Stock Exchange. It was outside of St. Paul's Cathedral. And there was a tent city, and people were fighting ideological warfare from within their tents. There wasn't much organising on the ground. It was disassembled months later. But I wonder why Americans, even with what is called Obamacare, are still not pushing for further measures, why Hillary Clinton's push for or suggestion merely of finance reform within the campaigning system, all of this has sort of been pushed aside.Are there actors who are able to advance these issues within our current political system in the United States? Or will it take people getting on the streets protesting, to get housing lowered to maybe have national rent controls, not just of the form that we have in New York, which, before I got to New York in the late 80s, everyone was telling me how great rent control was. Now it's all but disappeared? What is the answer? Is it the expropriation of houses? Is it the Cornwall style, no owning more than one house type of moratorium on homeownership? What are the solutions to this, Michael?Michael Hudson: There is no practical solution that I can suggest. Because the, you're not going to have universal medical care, as long as you have the pharmaceuticals. funding the campaign's of the leading politicians, as long as you have a political system that is funded by campaign contributors, you're going to have the wealthiest classes, and decide who gets nominated and who gets promoted. So, I don't see any line of reform, given the dysfunctional political system that the United States is in. If this were Europe, we could have a third party. And if we had an actual third party, the democratic party would sort of be like the social democratic parties in Europe, it would fall about 8% of the electorate, and a third party would completely take over. But in America, it's a two-party system, which is really one party with different constituencies for each wing of that party, and that one party, the same campaign contributors funds, both the Republicans and the Democrats. So it's possible that you can think of America as a failed state, as a failed economy. I don't see any means of practical going forward, just as you're seeing in the Congress today, when they're unwilling to pass an infrastructure act, there's a paralysis of change. I don't see any way in which a structural change can take place. And if you're having the dynamics that are polarising, only a structural change can reverse this trend. And nobody that I know, no politician that I know, sees any way of the trends being reversed.Julian Vigo: The funny thing is that scandal, quote-unquote, scandal over Ocasio Cortez's dress at the Met Gala was quite performative to me. It's typical that the media does. “Tax the rich,” as she sits at a function that I believe cost $35,000 to enter. And she socialised the entire night even if she allegedly did not pay either for her dress nor for the entrance. And I'm thinking, isn't this part of the problem: that we have so much of our socio-cultural discourse wrapped up in politics in the same way that Clinton's suggestion that campaign finance reform disappeared quite quickly? Is there any hope of getting campaign finance reform passed in the States?Michael Hudson: No. Because if you had campaign finance reform, that's how the wealthy people control politics. If you didn't, if you didn't have the wealthy, wealthy people deciding who gets nominated, you would have people get nominated by who wanted to do what the public ones, Bernie Sanders says, “Look, most of them are all the polls show that what democracy, if this were a democracy, we would have socialised medicine, we'd have public health care, we would have free education, we would have progressive taxation.” And yet no party is representing what the bulk of people have. So by definition, we're not a democracy. We're an oligarchy, and the oligarchy controls. I mean, you could say that the media play the role today that the church and religion played in the past to divert attention away from worldly issues towards other worldly issues. That's part of the problem.But not only the pharmaceutical industries are against public health care, but the whole corporate sector, the employer sector, are against socialised medicine, because right now workers are dependent for their health insurance on their employers. That means Alan Greenspan, the Federal Reserve Chairman said, this is causing a traumatised workers syndrome, the workers are afraid to quit, they're afraid to go on strike. They're afraid of getting fired because if they get fired, first of all, if they're a homeowner they lose their home because they can't pay their mortgage, but most importantly, they lose their health care. And if they get sick, it wipes them out. And they go broke and they lose their home and all the assets.Making workers depend on the employer, instead of on the government means you're locked into their job. They have to work for a living for an employer, just in order to survive in terms of health care alone. So the idea of the system is to degrade a dependent, wage-earning class and keeping privatising health care, privatising education, and moving towards absentee landlordship is the way to traumatise and keep a population on the road to serfdom. Get full access to Savage Minds at savageminds.substack.com/subscribe

This Is Hell!
Inside the Pandora Papers / Michael Hudson

This Is Hell!

Play Episode Listen Later Oct 6, 2021 87:09


Journalist Michael Hudson on the International Consortium of Investigative Journalists's massive Pandora Papers investigation, and in a Moment of Truth, Jeff Dorchen identifies a heinous example of "Missing White Woman Syndrome Derangement Syndrome." https://www.icij.org/investigations/pandora-papers/

Turning Hard Times into Good Times
Can Virtual Money be backed by Gold?

Turning Hard Times into Good Times

Play Episode Listen Later Oct 5, 2021 57:43


Frank Holmes, Michael Hudson and Chen Lin return. Last time we talked with Frank he suggested that China is leading the world toward a cryptocurrency that would be backed by gold. But does a gold-backed cryptocurrency make sense if the Chinese virtual currency is engineered to remove all freedoms and liberties from every human being by governing where you go, what you buy, and what you are allowed to believe? By contrast, gold has served as the most fair, egalitarian and pro free- market money ever used by humankind. While gold systems have in the past helped to slow down government theft by way of inflation, is there any reason to think the Chinese Communist Party would allow a gold-backed monetary system to lead to a free market capitalist system? What would be the purpose then of China backing a digital Yuan by gold? Those and other questions regarding money and other market matters will be asked of Frank who is the chairman of HIVE Blockchain Technologies a company that mines Ethereum. We will get Chen Lin's latest views on China as well as on gold and biotech markets, and Michael will update us on one of the most exciting emerging copper-silver discoveries in the world.

The Critical Hour
Congress Debates Two Fiscal Spending Bills; Afghan War Continues With Drones

The Critical Hour

Play Episode Listen Later Sep 28, 2021 114:55


Marjorie Cohn, professor of law at the Thomas Jefferson School of Law in San Diego, joins us to discuss Afghanistan. Professor Cohn has written an extensive article in which she posits that the exit of troops from Afghanistan is not an end to the conflict. She argues that the Biden administration will continue the violence using illegal drone warfare.Nick Davies, peace activist and author of "Blood on Our Hands: The American Invasion of Iraq," joins us to discuss Pentagon spending. Corruption in Congress glares as investigative reporters have determined that many of the House members who strongly support increased Pentagon spending are receiving large donations from weapons manufacturers. Also, is the Democratic party hamstrung by its right-wing or are they used as foils to intentionally kill progressive legislation?George Koo, journalist, social activist, international business consultant, and chemical engineer, joins us to discuss China. As the Chinese real estate giant Evergrande faces fiscal challenges, the Chinese government looks at the US using housing as a speculatory vehicle for profit and decides to move in a different direction. We discuss economist Michael Hudson's interview on this subject.Margaret Flowers, pediatrician, health reform activist, and co-director at Popular Resistance, joins us to discuss the murder rate increase. The US pandemic disaster has also precipitated a dramatic increase in crime. The homeland of the US empire is experiencing a nearly 30 percent increase in violent crime.Jack Rasmus, professor in economics and politics at St. Mary's College in California, joins us to discuss the two fiscal bills in the US Congress. There appears to be a pitched partisan congressional battle over the two major fiscal bills in Congress. However, Dr. Rasmus argues that the fiscal battle in Congress is really between the corporate wing of the Democrats and the wing that sees the passage of both bills in their current form as necessary to ensure a sustained economic recovery.Nino Pagliccia, activist and writer, joins us to discuss the Global South. The US Empire puppets of the Juan Guaido's "Popular Will" party have plundered hundreds of millions of dollars in Venezuela's foreign assets. This discussion is happening in light of the US client state Colombia's announcement that they will steal Venezuela's PDVSA assets in their nation.Michelle Witte, co-host of Political Misfits, joins us to discuss German elections. Michelle joins us from Germany, where she is covering the results of the German elections. There is much wrangling over the Nord Stream 2 project, as anti-Russia forces move to block it, but fuel prices are skyrocketing. Will the government act to smite the Russians even though the business and working people will suffer?Ajamu Baraka, 2016 US vice presidential candidate for the Green Party, joins us to discuss the US empire. Our guest joins us to discuss the possible decline of the US empire. As other world powers such as Russia and China are rising, the US still maintains significant economic and military horsepower. However, the ballooning debt and internal divisiveness may point to a precipitous decrease in US hegemonic aspiration.

Conscious Millionaire Show
2180: Best of Michael Hudson: Get Your Message Heard

Conscious Millionaire Show

Play Episode Listen Later Sep 23, 2021 30:10


15% off at Stello Mints - Click Here Welcome to the Conscious Millionaire Show for entrepreneurs,  who want to create an abundant future for themselves and humanity. Heard by millions in 190 countries.  Do you want to put more money in the bank, create a powerful impact, and enjoy a purposeful life? This is the podcast for you! Join host, JV Crum III, as he goes inside the minds of Millionaire Entrepreneurs and World-Class Business Experts. Today's featured episode... Michael Hudson: Get Your Message Heard Michael Hudson is the author of Public Speaking Secrets. He is a coach that helps you get your message heard. His personal story is compelling; After receiving his PhD, he became the youngest professor with an endowed chair at Cornell. Tired of the bureaucracy, he left his safe tenured position to find his voice as an entrepreneur. Like this Podcast? Get every episode delivered to you free!  Subscribe in iTunes Download Your Free Money-Making Gift Now... "Born to Make Millions" Hypnotic Audio - Click Here Now! Please help spread the word. Subscribing and leaving a review helps others find our podcast. Thanks so much! Inc Magazine "Top 13 Business Podcasts." Conscious Millionaire Network has over 3,000 episodes and millions of listeners in 190 countries. Join us as a regular listener to get money-making secrets on how you can grow your business and profits faster! 

Conscious Millionaire  J V Crum III ~ Business Coaching Now 6 Days a Week
2180: Best of Michael Hudson: Get Your Message Heard

Conscious Millionaire J V Crum III ~ Business Coaching Now 6 Days a Week

Play Episode Listen Later Sep 23, 2021 30:10


15% off at Stello Mints - Click Here Welcome to the Conscious Millionaire Show for entrepreneurs,  who want to create an abundant future for themselves and humanity. Heard by millions in 190 countries.  Do you want to put more money in the bank, create a powerful impact, and enjoy a purposeful life? This is the podcast for you! Join host, JV Crum III, as he goes inside the minds of Millionaire Entrepreneurs and World-Class Business Experts. Today's featured episode... Michael Hudson: Get Your Message Heard Michael Hudson is the author of Public Speaking Secrets. He is a coach that helps you get your message heard. His personal story is compelling; After receiving his PhD, he became the youngest professor with an endowed chair at Cornell. Tired of the bureaucracy, he left his safe tenured position to find his voice as an entrepreneur. Like this Podcast? Get every episode delivered to you free!  Subscribe in iTunes Download Your Free Money-Making Gift Now... "Born to Make Millions" Hypnotic Audio - Click Here Now! Please help spread the word. Subscribing and leaving a review helps others find our podcast. Thanks so much! Inc Magazine "Top 13 Business Podcasts." Conscious Millionaire Network has over 3,000 episodes and millions of listeners in 190 countries. Join us as a regular listener to get money-making secrets on how you can grow your business and profits faster! 

Progressive Commentary Hour
Progressive Commentary Hour - Guest Dr. Michael Hudson

Progressive Commentary Hour

Play Episode Listen Later Sep 22, 2021 57:15


Dr. Michael Hudson is one of our nation's finest and most important economists and Wall Street financial analysts. Dr. Paul Craig Roberts has called Michael “the world's best economist.” He is the President of The Institution for the Study of Long-Term Economic Trends, and a distinguished research professor of economics at the University of Missouri. He was the Chief Economic Policy Advisor for the Rep. Dennis Kucinich's 2008 presidential campaign and has served as an adviser to the White House, State and Defense departments and served as an economic advisor to other governments including Iceland, Latvia and China.  Michael has written many books and important papers and articles, including "Lending, Foreclosure and Redemption from Bronze Age Finance to the Jubilee Year" which is about debt forgiveness, and “Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy” that addresses the cause and effect behind the polarization of the 1% versus 99% emerged. His website is Michael-Hudson.com

RT
Keiser Report: 20 Years of Big Home Security Profits

RT

Play Episode Listen Later Sep 11, 2021 28:00


In this episode of Keiser Report, Max and Stacy look at a report into the huge profits earned by the private security industry that sprouted up after the September 11th attacks 20 years ago. In the second half, Max continues his conversation with Dr. Michael Hudson about the third edition of his classic book, “Super Imperialism: The Origin and Fundamentals of US World Dominance,” as well as another new book to be published before the end of the year, “The Destiny of Civilization,” and whether or not the Thucydides Trap is real.

RT
Keiser Report: Zero Rates Causing Deflation

RT

Play Episode Listen Later Sep 9, 2021 27:50


In this episode of Keiser Report, Max and Stacy discuss a recent economic report finding that the rich getting richer is causing low rates which, in turn, is causing the rich to get richer. In the second half, Max chats to Dr Michael Hudson about the third edition of his classic book, “Super Imperialism: The Origin and Fundamentals of US World Dominance” on how the US came to be the world's ‘most affluent' empire, despite being the largest debtor nation.

CoinGeek Conversations
CoinGeek Conversations: The Educators

CoinGeek Conversations

Play Episode Listen Later Sep 8, 2021 17:44


In the fourth and final installment of our CoinGeek Conversations special episodes, Natalie Mason picks out three fascinating interviews from past shows that showcase note-worthy educators in the Bitcoin SV ecosystem. On this episode, Lise Li Bitcoin Association China Manager talks about the technological advancements in China and how the Bitcoin SV blockchain can fit right into the country's socio-cultural environment; Michael Hudson, Bitstocks and Gravity CEO talks about their company's mission and guiding philosophies; and Liz Louw, a digital marketing and content strategist shares her research methodologies in writing ‘What is Bitcoin?'  To get free access to Liz's eBook, click on this link: What is Bitcoin?

Focus Church with Mike Santiago

We've all got issues, but it's what we do with them that matters. Who do we take them to? Do we stay stuck in them, or do we believe God for more? Dr. Michael Hudson brings a strong word about how to combat our issues with faith. To continue to support this ministry so we can reach people all around the world, visit www.givetofocus.com

Turning Hard Times into Good Times
Is America in Decline? Preparing for the Outcome

Turning Hard Times into Good Times

Play Episode Listen Later Jul 6, 2021 56:05


Former New South Wales Judge Michael Pembroke visits for the first time. Michael Oliver and Michael Hudson return. From his cosmopolitan background, Judge Pembroke will discuss important geopolitical changes underway with the center of power and wealth shifting from the Atlantic to the Pacific regions of the world. What are the causes for America's declining power and wealth? Aside from Asian countries, which regions of the world will fare best and which ones not as well? How should individuals prepare to survive in a much less affluent setting? One suggestion always offered is to trade rapidly declining fiat currency for tangible assets starting with real money, gold and silver, and the companies that discover and mine those monetary metals. Michael Hudson will talk about progress being made by Hannan Metals in outlining massive copper-silver targets in Peru. And Michael Oliver will highlight the markets you most need to keep an eye on at show time.

Entrepreneur Lifestyle with Ben Ivey
#34 Becoming a fearless bulletproof entrepreneur with Michael Hudson

Entrepreneur Lifestyle with Ben Ivey

Play Episode Listen Later Jun 7, 2021 29:27


Michael is a very analytical CEO who has seen trends well before their time. Not only this you can see how he has stepped up as a role model and has risen to all the challenges in his life. From becoming broke to being financially free, to now being on a mission to harness the power of Bitcoin and technology to enable individual sovereignty and, eventually, the next evolution of humanity. A true genius of our time and definitely not one to miss! What we cover Why consistency is the most important thing in business How mentors are your best investment Why funding is so important for entrepreneurs How to manage your time running multiple businesses How to take advantage of adverse challenging times

CoinGeek Weekly Livestream with Kurt Wuckert Jr.
CoinGeek Weekly Livestream - Episode 12

CoinGeek Weekly Livestream with Kurt Wuckert Jr.

Play Episode Listen Later Jun 2, 2021 69:10


This week Patrick Thompson is joined by the Founder and CEO of Bitstocks Gravity, Michael Hudson. To discuss the role Gravity will play in the adoption of BSV as well as gaining insight from Michael on the universe powers.

Edict Zero - FIS
Edict Zero – FIS – EP506 – “The Uncanny Valley (I)”

Edict Zero - FIS

Play Episode Listen Later May 31, 2021


EDICT ZERO – FIS – Season 5 Episode 6 – “The Uncanny Valley (I)” #CREDITS# VOICES: James Keller, Julie Hoverson, Phil Rossi, Tanja Milojevic, Russell Gold, Michael Hudson, Robert Cudmore, Chris Barnes, David Collins-Rivera, Caitlin Sneddon, Fiona Thraille, Owen McCuen, Sarah Golding, Dayn Leonardson, Stefan Rudnicki, Bill Walsh, and Jack Kincaid. EXPANDED VOICE CREDITS Admin […]

Sheffield Vulcans Podcast
EPISODE 14: "IMPEACH THIS" - Feat. MICHAEL HUDSON

Sheffield Vulcans Podcast

Play Episode Listen Later May 27, 2021 72:25


Welcome to the 14th episode of the Sheffield Vulcans Podcast and this week  this we are thrilled to be joined by Michael Hudson, the President of the Sheffield Vulcans. Join us as the squad discusses the news  regarding future Six Nation's broadcasting, Jon talks about Joe Marler's powerful documentary BIG BOYS DON'T CRY and Michael share's his favourite Vulcan memory in this week's Vulcan Corner. In the second half Jon sits down with Michael to discuss his journey to the Vulcans where we discuss his love of sport and performing arts, his troublesome experience of University sports clubs and why it led him to join the Vulcans. So, sit back, tune in as we talk IGR, Rugby Union and everything in between.

theAnalysis.news
Why Biden Won’t Cancel Student Debt – Michael Hudson

theAnalysis.news

Play Episode Listen Later May 24, 2021


Why is the Fed buying corporate junk bonds and debt but won't buy out student debt? Michael Hudson on theAnalysis.news with Paul Jay.

Moderate Rebels
Economist Michael Hudson on new cold war, Super Imperialism, Biden, China & Russia, dedollarization

Moderate Rebels

Play Episode Listen Later May 5, 2021 88:08


Max Blumenthal and Ben Norton discuss with world-renowned economist Michael Hudson his concept of US "Super Imperialism," the new cold war on China and Russia, the Joe Biden administration, and dedollarization - the potential end to the dollar as the global reserve currency. From 1:00:37 on, we also respond to questions from our patrons at Patreon: patreon.com/ModerateRebels

Business Leadership Series
Episode 986: BLS Minute - Michael Hudson

Business Leadership Series

Play Episode Listen Later Apr 30, 2021 2:42


Michael Hudson is a strategic advisor, consultant, & speaker who helps leaders and influencers be heard and understood when the stakes are high. Michael has a powerful story that he shares, going through some very tough challenges from an early age, and now sharing his story to help others.

Turning Hard Times into Good Times
Biden’s Last Throw of the Geopolitical Dice

Turning Hard Times into Good Times

Play Episode Listen Later Apr 6, 2021 59:42


Alasdair Macleod, Chen Lin and Michael Hudson return. One reality American policy makers overlook is that the basis for strong nations is a strong economic footing. Believers in the Keynesian fairy tale that you can create wealth by printing money are blinded by that Keynesian big lie. So political leaders from both parties continue to think American weapons can keep securing American military and dollar hegemony. Alasdair will explain why America is already on its back foot in the continuing cold war, why the days of dollar hegemony are limited and what that will mean for your investments. Chen will add his geopolitical perspective and as well as offer some exciting investment ideas and Michael Hudson will update us on the progress of Hannan Metals with its world class copper-silver sedimentary-hosted exploration project in Peru.

Freedom Scientific FSCast
FSCast 197, Manuel Cortez, creator of TWBlue, and Michael Hudson, Director of accessibility Services at MSU

Freedom Scientific FSCast

Play Episode Listen Later Mar 25, 2021 50:00


On FSCast 197, a spotlight on a great Twitter app for Windows called TWBlue.  We’ll meet its author, Manuel Cortez, and hear the program in action.  Then a visit with Michael Hudson, longtime JAWS beta tester and the Director of the Resource Center for Persons with Disabilities at Michigan State University.   Transcript available at https://blog.freedomscientific.com/FSCast

The Mutual Audio Network
Sonic Society Season 12- 498- Sonic Survivors(031521)

The Mutual Audio Network

Play Episode Listen Later Mar 15, 2021 48:47


Starting of this New Year of 2017 we're proud to present another promotional release from Big Finish with SURVIVORS! (Special thanks again to Michael Hudson!) Run, don't walk to Big Finish and reserve your own copy of the series today! Tell them The Sonic Society sent you. It's Audio Drama Time! Learn more about your ad choices. Visit megaphone.fm/adchoices

The Mutual Audio Network
Sonic Society Season 12- 495- Still Prisoner(022221)

The Mutual Audio Network

Play Episode Listen Later Feb 22, 2021 53:37


Tonight we complete Big Finish Productions awesome promotional release of The Prisoner. Now's your chance to own the entire series. Head over to Big Finish right away and tell them the Sonic Society sent you to pick up the rest of the series today! And special thanks to Michael Hudson for his work in getting this incredible release to us! It's Audio Drama Time! BONUS TRACK: John Bell's Bell's in the Batfry episode #156! Learn more about your ad choices. Visit megaphone.fm/adchoices

The Mutual Audio Network
Sonic Society Season 12- 494- Prisoner to Audio(021521)

The Mutual Audio Network

Play Episode Listen Later Feb 15, 2021 50:09


Thanks to Sonic Society member at large- Michael Hudson and the incredible folks at Big Finish we're thrilled to feature as a promotional release part one of Big Finish's adaptation of The Prisoner. Head over to Big Finish right away to purchase the rest of the series and don't forget to tell them the Sonic Society sent you! Learn more about your ad choices. Visit megaphone.fm/adchoices

Focus Church with Mike Santiago
The Cure for the Tormented Spirit

Focus Church with Mike Santiago

Play Episode Listen Later Jan 31, 2021 38:33


Depressed? Anxious? Worried? Afraid? Mental turmoil is common these days, but did you know there's more war going on in the spirit than in your mind? In this sermon, Dr. Michael Hudson helps break down the cure for the tormented spirit. To continue to support this ministry so we can reach people all around the world, visit www.givetofocus.com

Radio Project Front Page Podcast
TUC Radio: Prof. Michael Hudson and Paul Jay, Segment 2

Radio Project Front Page Podcast

Play Episode Listen Later Jan 19, 2021


Paul Jay, the former CEO of The Real News Network, now is founder and publisher of theAnalysis.news and President of Counterspin Films. On November 2, 2020 he invited the renowned economist Michael Hudson on theAnalysis.news. Michael Hudson is professor of economics at the University of Missouri, Kansas City, and a researcher at the Levy Economics Institute at Bard College. He’s also a former Wall Street analyst. Jay and Hudson began by discussing whether Trump policies have brought jobs and industries back home - as Trump still claims. They also discuss the huge and mounting Covid related debt of ordinary people and the need for writing it down. Michael Hudson elaborates on the difference in the amounts of money in the Covid stimulus plan - with about $8 trillion going to the one percent and $2 trillion to the rest of us. The full 49 minute conversation is free on the website of theAnalysis.news - and there is also a transcript.

Radio Project Front Page Podcast
TUC Radio: Prof. Michael Hudson and Paul Jay, Segment 1

Radio Project Front Page Podcast

Play Episode Listen Later Jan 19, 2021


Paul Jay, the former CEO of The Real News Network, now is founder and publisher of theAnalysis.news and President of Counterspin Films. On November 2, 2020 he invited the renowned economist Michael Hudson on theAnalysis.news. Michael Hudson is professor of economics at the University of Missouri, Kansas City, and a researcher at the Levy Economics Institute at Bard College. He’s also a former Wall Street analyst. Jay and Hudson began by discussing whether Trump policies have brought jobs and industries back home - as Trump still claims. They also discuss the huge and mounting Covid related debt of ordinary people and the need for writing it down. Michael Hudson elaborates on the difference in the amounts of money in the Covid stimulus plan - with about $8 trillion going to the one percent and $2 trillion to the rest of us. The full 49 minute conversation is free on the website of theAnalysis.news - and there is also a transcript.

RT
Renegade Inc.: 2021 – Looking forward...

RT

Play Episode Listen Later Jan 4, 2021 30:09


However you look at it, 2020 was a train wreck. So, as we look forward to 2021, we wanted to get political and economic insight from two friends of the show. Chris Williamson and Michael Hudson share their views on what we can be looking out for in the new year.

Edict Zero - FIS
Edict Zero – FIS – EP504 – “The Walk (I)”

Edict Zero - FIS

Play Episode Listen Later Dec 31, 2020


Edict Zero – FIS – EP504 – “The Walk (I)” EDICT ZERO – FIS – Season 5 Episode 4 – “The Walk (I)” #CREDITS# VOICES: Julie Hoverson, Phil Rossi, Tanja Milojevic, Folly Blaine, David Collins-Rivera, Fiona Thraille, Owen McCuen, Michael Hudson, Austin Beach, Sarah Golding, Dayn Leonardson, Stefan Rudnicki, Jennifer Dixon, Bill Walsh, C. Edward […]

theAnalysis.news
Polarization, Then a Crash: Michael Hudson on the Rentier Economy

theAnalysis.news

Play Episode Listen Later Dec 24, 2020


Allied with landlords and monopolists, the finance sector is extracting economic rents from the economy that's impoverishing US government, industry and labor says Michael Hudson discussing the chokehold of pro-finance, pro-rentier capitalism reaching into the present COVID-19 crisis.

CruxCasts
Mawson Gold (MAW) - Building Gold Resources Globally for Mine Builders

CruxCasts

Play Episode Listen Later Dec 21, 2020 44:01


Interview with Michael Hudson, CEO of Mawson Gold (TSX:MAW)

Turning Hard Times into Good Times

Alasdair Macleod, Michael Hudson & Chen Lin return. It is beginning to be obvious that global economic woes extend beyond COVID lockdowns and that monetary inflation for the dollar, as the common foundation for other fiat currencies, whose issuers face similar problems, will continue to accelerate. Fiat currencies have only survived this long due to increased financialization of the dollar and the US economy. Since the 1980s Wall Street has gradually dominated the US economy at the expense of Main Street. It has done so through monetary inflation, creating the conditions for the ultimate monetary collapse. We will ask Alasdair to help us explain how the dollar’s trip toward the dustbin of history is likely to proceed and what we should be looking for to tell us it’s happening. Michael Hudson will talk about Hannan Metals joint venture with a world class mining entity to fund Hannan’s world class copper-silver target in Peru. Chen will share his latest investment ideas.

The National Intel Report with John Stadtmiller
The National Intel Report with John Stadtmiller, November 11, 2020 Hour 1

The National Intel Report with John Stadtmiller

Play Episode Listen Later Nov 11, 2020 60:00


Guest: Bonnie Faulkner - http://gunsandbutter.org/ | ECONOMY, HISTORY, POLITICS, GOVERNMENT, CONSPIRACIES, GLOBALISM, CENSORSHIP Bonnie Faulkner produces and hosts the political economy radio program, Guns and Butter.  Her first broadcast, one month after the crimes of September 11th, established foreknowledge of these events by Wall Street, the big banks and intelligence agencies.  Since that first show, Guns and Butter has continued its in-depth analysis of all aspects of the September 11th attacks and the resulting 9/11 wars.  Richard Gage first learned the facts of 9/11 on her show and went on to found Architects and Engineers for 9/11 Truth.  Guns and Butter early on covered the subprime and the coming financial meltdown of 2008 and continues its in-depth financial analysis with such experts as Michael Hudson, Michel Chossudovsky, Max Keiser, William Engdahl, William K. Black and many others.  Her radio shows are archived at gunsandbutter.org, where you can listen to her extensive interviews with such fascinating guests as James Bacque, Michael Hoffman, Robert Schoch, Jim Fetzer, Lori Handrahan, Gilad Atzmon, William Pepper, Wayne Madsen, Douglas Valentine and many more. She was banned from Pacifica's flagship station, KPFA, in August 2018 for airing a presentation on Palestine by former Army War College Director of Strategic Studies, Alan Sabrosky, in which he cited IRC figures for deaths in concentration camps, considered “holocaust denial”. Visit her website at gunsandbutter.org and help keep the spirit of free speech alive in America. *Guns and Butter airs every Wednesday at 9:00AM Eastern on WBAI in New York City at 99.5 FM and streamed live at wbai.org.

Life Unscripted Radio
Future of Aviation Security with Mike Hudson, of ClearForce

Life Unscripted Radio

Play Episode Listen Later Nov 3, 2020 20:00


Mr. Michael Hudson is retired at the rank of Colonel from the U.S. Marine Corps in 2014.  Prior to his retirement, Mr. Hudson was the former Commanding Officer, 11th MEU (Marine Expeditionary Unit), A 2.4K-person organization  with operations in the Middle East, Central Asia, Africa and Asia-Pacific; the former Director, Joint Operations Center, US Pacific Command, Commanding Officer, HMM-364, and as an Intelligence Officer; Future Operations Concepts, Naval Warfare Development Command…he retired having last served as the branch Head, USMC HQ  on Sexual Assault Prevention and Response where he reorganized and established a new Sexual Assault Prevention Response branch at the request of the Commandant of the Marine Corps. Mr. Hudson is currently the Senior Director, Government Solutions, ClearForce, ’16 – Present where he supports the continued design of the ClearForce platform for counterintelligence. He also serves as a Board Member, National Trust for our Wounded (NTW), ’15 – Present. Today Mike Hudson and I discuss how ClearForce is helping companies build a strategic plan to combat insider threats, guarding airplanes and airport systems from being manipulated compromised employees. https://clearforce.com/

theAnalysis.news
Financialization and Deindustrialization – Michael Hudson

theAnalysis.news

Play Episode Listen Later Nov 2, 2020 48:27


Trump's economic policies have not addressed the fundamental forces that have gutted industrial jobs under the administrations of both parties, says economist Michael Hudson on theAnalysis.news podcast with Paul Jay.

Artistic Finance
27: MMT (Modern Monetary Theory) with Miguel Guerra

Artistic Finance

Play Episode Listen Later Nov 2, 2020 54:20


A discussion of MMT (Modern Monetary Theory) with comic book creator Miguel Guerra and theatrical lighting designer Ethan Steimel.RESOURCES:Succinct Explanation of MMT (VIDEO) - Ethan's recommendation:https://www.youtube.com/watch?v=3QYJjisPMQY Modern Monetary Theory:https://en.wikipedia.org/wiki/Modern_Monetary_Theory The Deficit Myth - by Stephanie Kelton:https://stephaniekelton.com/book/Seven Deadly Innocent Frauds of Economic Development - by Warren Mosler (FREE):http://moslereconomics-kg5winhhtut.stackpathdns.com/wp-content/uploads/2019/12/Seven-Deadly-Innocent-Frauds-of-Warren-Mosler.pdfDebt: The First 5,000 Years - by David Graeber:https://en.wikipedia.org/wiki/Debt:_The_First_5000_YearsDavid Graeber (Died September 2, 2020 - RIP):https://en.wikipedia.org/wiki/David_GraeberStephanie Kelton:https://en.wikipedia.org/wiki/Stephanie_KeltonWarren Mosler:https://en.wikipedia.org/wiki/Warren_MoslerSteve Keen - economist that Miguel illustrates for:https://evonomics.com/about/Michael Hudson - economist that Miguel illustrates for:https://michael-hudson.com/ Helicopter Money (Ben Bernanke):https://en.wikipedia.org/wiki/Helicopter_moneyThe Invention of the White Race - Theodore Allen:https://en.wikipedia.org/wiki/Theodore_W._AllenIndian Givers: How The Indians of the Americas Transformed the Worldhttps://en.wikipedia.org/wiki/Indian_Givers:_How_the_Indians_of_the_Americas_Transformed_the_WorldThe People's History of the World - Chris Harman. (FREE):https://libcom.org/files/A%20People%27s%20History%20of%20the%20World%20-%20Harman,%20Chris.pdfThe Business Plot - Smedley Butler - to overthrow FDR:https://en.wikipedia.org/wiki/Business_PlotJoseph Campbell - Miguel mentions the red and blue god fable  -https://en.wikipedia.org/wiki/Joseph_CampbellPatriotic Millionaires - USA Millionaires that support higher taxes:https://patrioticmillionaires.org/Bacon's Rebellion:https://en.wikipedia.org/wiki/Bacon%27s_RebellionFederal Theatre Project - Part of The New Deal - Gave Orson Welles a job:https://en.wikipedia.org/wiki/Federal_Theatre_Project Thatcherism - Margaret Thatcher Economic Philosophy (The Household Budget):https://en.wikipedia.org/wiki/Thatcherism Jubilee - Abrahamic idea of forgiving debts and freeing enslaved people:https://en.wikipedia.org/wiki/JubileeNordic Model For Supporting Artists:https://www.taike.fi/documents/10921/1094274/Heikkinen+26+03.pdf/1a6e4305-e147-494a-9605-6e8f6a01a94cMuammar el-Qaddafi - was creating a Pan African Currency but then was killed:https://theecologist.org/2016/mar/14/why-qaddafi-had-go-african-gold-oil-and-challenge-monetary-imperialismHow Social Security Is "Financed" According to the Federal Government:https://www.ssa.gov/news/press/factsheets/HowAreSocialSecurity.htm#:~:text=Social%20Security%20is%20financed%20through,self%2Demployed%20pay%2012.4%20percent Alan Greenspan saying the Fed can create money (statement at 0:39):https://youtu.be/DNCZHAQnfGU?t=39Miguel Guerra is an American illustrator and comic book creator living in Paris with his co-writer Suzy Dias. Together they founded 7 Robots Inc with comic book titles such as Samurai Elf, Wolf Boy & His Magical Warriors, and Past Due, a satirical comic about powerful corporations forcing creating a world in which people must pay for superhero insurance.For Halloween 2020, they released Ghost Metal, a comic book of horror stories. PLEASE SUBSCRIBE ON WEBTOON at Miguel and Suzy need 1,000 followers to monetize.https://www.webtoons.com/en/challenge/ghost-metal/list?title_no=531614 Miguel illustrates for the economist Steve Keen and Michael Hudson and is an independent artist.Twitter:@samuraielf@7robotsinc Instagram:@miguelguerra1532@7robotsGhost Metal (FREE):https://www.webtoons.com/en/challenge/ghost-metal/list?title_no=531614Wolfboy and The Magical Warriors (FREE):https://www.7robots.com/wolfboy/Past Due (6.00 USD) - Formerly Super Corporate Heroes:https://www.7robots.com/pastdue/Merry Felonies - News From The Wrong Perspective (FREE):https://www.7robots.com/category/merry-felonies/Samurai Elf Trailer (Vol. 1 - FREE)https://www.7robots.com/shop/collections/samurai-elf-free-digital-comic1/7 Robots Website - Miguel Guerra & Suzy Dias:https://www.7robots.com/Interview by Ethan Steimel Become a patron of Artistic Finance / Ethan Steimel at:www.patreon.com/artisticfinance www.artisticfinance.comwww.patreon.com/artisticfinanceinstagram.com/artisticfinancetwitter.com/ethansteimelfacebook.com/artisticfinanceyoutube.com/artisticfinance 

Odd Lots
Michael Hudson On Why The US Risks Becoming The Next Greece

Odd Lots

Play Episode Listen Later Oct 12, 2020 57:35


In the wake of the Great Financial Crisis, you heard a lot of talk about the US becoming like Greece unless the budget deficit were brought under control. However, these warnings proved to be unfounded. That being said, there are risks of a different variety. On the latest Odd Lots, we speak with the economist Michael Hudson on the risk of too much private sector debt, which could lead to permanently degraded consumption and investment.

Macro n Cheese
Debt Deflation and the Neofeudal Empire with Michael Hudson

Macro n Cheese

Play Episode Listen Later Oct 3, 2020 52:10


Renowned economist and author Michael Hudson joins us to discuss debt, the parasitic kleptocracy, and the remnants of feudalism. He and Steve look at the monolithic two-party system, where slogans like “hope and change” mean the death of hope and obstruction to change.

Macro n Cheese
Debt Deflation and the Neofeudal Empire with Michael Hudson

Macro n Cheese

Play Episode Listen Later Oct 3, 2020 52:11


Some of us Macro N Cheesers first heard the term “rentier class” from Michael Hudson’s interviews and YouTube talks. In today’s episode, he and Steve discuss the idea of economic rent as a remnant of feudalism. Bankers have replaced the feudal lords as the parasites who extract most of the wealth from the economy. The financial, insurance and real estate (FIRE) sector comprise the contemporary kleptocracy. They have manipulated the system to such an extent, it is impossible to get an accurate measure of our society’s economic health or pain. Michael delves into the history of debt and its role in our ever-changing economic structure. He references classical economists like Smith, Mills, Ricardo, and Marx, with their concept of economic rent as unearned income. They believed that industrial capitalism would eliminate the entire legacy of feudalism and dissolve the landlord class by taxing away rent or nationalizing the land. Since most governments were subsidizing education and health care, it seemed counterproductive to allow privatization of health, education, or land rent monopolies. They also saw ‘credit’ as a public utility, expecting banks to lend for socially worthwhile and productive purposes. Ultimately, instead of banking being industrialized, industry was financialized. Debt deflation is the idea that the more people pay in debt service — i.e. mortgages, credit card interest, fines, and fees — the less they can spend on goods and services; so money is sucked out of the production/consumption economy, and siphoned off into the wealth economy. This demand for debt service pillages the domestic market, destroys employment, and drives the population to emigrate, suffer, or die. Since we’re still mired in the “silly season” of US elections, Steve asks Michael whether he holds out any hope for finding solutions through electoral politics. Michael says it’s not possible to vote ourselves out of the mess we’re in due to the nature of the two-party system in the US.   It's basically the same party with a little ethnic difference between them, but economically it's the same party, and there cannot be any alternative to this monolithic - we'll call it the Republican Party with Democratic cheerleaders - there cannot be any progress made until you break up the Democratic Party.   Looking at their success in keeping the Green Party off the ballot in most states, the Democrats and Republicans have sent the message of virtual impossibility for third party wins. They’ve gimmicked the system, leaving Wall Street in charge of the economy and our lives. The elected officials haven’t been captured by the kleptocracy; they are its front men. They’ve been nurtured and groomed for that role.   I think most people who have to work for a paycheck realize that they're being squeezed, but that's not what the politicians say. You know, "hope and change"... and, of course, their real job is to prevent change and to smash hope.   Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of J is for Junk Economics (2017), Killing the Host (2015), The Bubble and Beyond (2012), Super-Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt (1992 & 2009) and of The Myth of Aid (1971), amongst many others. For access to his books, articles, and interviews: michael-hudson.com

Turning Hard Times into Good Times
An Unexpected Systemic Crisis For Sure

Turning Hard Times into Good Times

Play Episode Listen Later Sep 1, 2020 58:38


Alasdair Macleod, Michael Oliver and Michael Hudson return. Downturns in bank credit expansion always lead to systemic problems. We are on the edge of such a downturn, which thanks to everyone’s focus on COVID-19 is unexpected. On March 23rd markets stopped worrying about deflation and realized that monetary inflation is the certain outlook. That day, the Fed promised unlimited monetary stimulus for both consumers and businesses, and the dollar began to fall. Commercial banks everywhere are massively leveraged and their exposure to bad debts and a cyclical banking crisis is now certain to wipe many of them out. Alasdair will talk about the impact on gold from a collapse of global systemically important banks (G-SIBs) and how Central Banks are preparing for a monetary reset that is not friendly to lovers of liberty. M. Hudson will update us about Hannan Metal's progress on its major copper-silver discovery in Peru and M. Oliver will share his latest insights on key markets.

Debt Free in 30
313 – Pandemic Update, and REBROADCAST: Debt Forgiveness: Is a Debt Jubilee the Answer?

Debt Free in 30

Play Episode Listen Later Aug 29, 2020 28:28


Millions of Canadians have received CERB (and may have a tax debt next year), and many Canadians have incurred and deferred debt to survive the pandemic.  How will they repay that debt? First aired in May, today we have a new introduction and update, and then we rebroadcast our episode on an ancient concept that is getting a lot of new interest: a debt jubilee. Enjoy!  Helpful Reads:   Is A Debt Jubilee the Solution to Our Collective Debt Problem: https://www.hoyes.com/blog/is-a-debt-jubilee-the-solution-to-our-collective-debt-problem/ Insolvency Predictions Post COVID-19: https://www.hoyes.com/blog/insolvency-predictions-post-covid-19/ ...and forgive them their debts by Michael Hudson: https://michael-hudson.com/2018/08/and-forgive-them-their-debts/ Can We Avoid Another Financial Crisis by Steve Keen: https://www.dw.com/en/can-we-avoid-another-financial-crisis/a-41111841 10 Key Canadian Debt Statistics That Explain Consumer Insolvency Growth in 2019: https://www.hoyes.com/blog/10-top-debt-statistics/ 7-Year Waiting Rule on Student Loans: https://www.hoyes.com/blog/are-your-student-loans-past-the-7-year-rule-a-vaughan-bankruptcy-story/​ ​Hoyes Michalos Bankruptcy Study: https://www.hoyes.com/press/joe-debtor/

Edict Zero - FIS
Edict Zero – FIS – EP502 – “The Man in the Box”

Edict Zero - FIS

Play Episode Listen Later Jul 17, 2020


EDICT ZERO – FIS – Season 5 Episode 2 – “The Man in the Box” #CREDITS# VOICES: James Keller, Julie Hoverson, Phil Rossi, Tanja Milojevic, Russell Gold, Robert Cudmore, Chris Barnes, Jennifer Dixon, David Collins-Rivera, Caitlin Sneddon, Fiona Thraille, Michael Hudson, Owen McCuen, Austin Beach, Stefan Rudnicki, and Jack Kincaid. EXPANDED VOICE CREDITS Spoon _______________________________ […]

Edict Zero - FIS
Edict Zero – FIS – EP501 – “Everything Changes (III)”

Edict Zero - FIS

Play Episode Listen Later May 31, 2020


  EDICT ZERO – FIS – Season 5 Episode 1 – “Everything Changes (III)” #CREDITS# VOICES: James Keller, Julie Hoverson, Phil Rossi, Tanja Milojevic, Russell Gold, Robert Cudmore, Chris Barnes, Jennifer Dixon, David Collins-Rivera, Caitlin Sneddon, Fiona Thraille, Michael Hudson, Sarah Golding, Dayn Leonardson, Owen McCuen, Austin Beach, Corey McCrea, Bill Walsh, Tracy-Lea Cudmore, Steve […]

theAnalysis.news
FED’s $10 Trillion Defends Assets of the Rich – Michael Hudson

theAnalysis.news

Play Episode Listen Later May 29, 2020 45:29


The Federal Reserve is directly buying stocks, bonds, junk bonds, mortgages, junk mortgages, all to prop up the value of assets owned by the top 5%. This does not spur much new production or create jobs. Michael Hudson joins Paul Jay on theAnalysis.news podcast

The Gary Null Show
The Gary Null Show - $10 Trillion bailout from FED and rising with Dr. Michael Hudson - 05.20.20

The Gary Null Show

Play Episode Listen Later May 20, 2020 57:26


Dr. Michael Hudson is one of our nation's finest and most important economists and Wall Street financial analysts. Dr. Paul Craig Robert's recently called him “the world's best economist.” He is currently the President of The Institution for the Study of Long-Term Economic Trends, a research professor of economics at the University of Missouri and a research associate at the Levy Economics Institute at Bard College. He was the Chief Economic Policy Advisor for the Rep. Dennis Kucinich's 2008 presidential campaign and has served as an adviser to the White House, State and Defense departments at the Hudson Institute, and the United Nations Institute.  Michael has written many books and important papers and articles, including his most recent "J is For Junk Economics: A Guide to Reality in an Age of Deception," which explains how the global economy really works, and “Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy” that addresses the cause and effect behind the polarization of the 1% versus 99% emerged. His website is Michael-Hudson.com

Moderate Rebels
How the US makes countries pay for its wars: Economics of American imperialism with Michael Hudson

Moderate Rebels

Play Episode Listen Later Apr 23, 2020 47:17


Economist 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. VIDEO: youtube.com/watch?v=paUgY6SGlgY PART 2 OF 2 Part 1 here: moderaterebels.com/transcript-us-coronavirus-bailout-michael-hudson Michael Hudson's website: michael-hudson.com PDF of his book Super Imperialism: michael-hudson.com/wp-content/uploads/2010/03/superimperialism.pdf (Interview recorded on April 13, 2020)

Moderate Rebels
US coronavirus 'bailout' scam is $6 trillion giveaway to Wall St - Economist Michael Hudson explains

Moderate Rebels

Play Episode Listen Later Apr 20, 2020 43:55


Facing 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 systemic financial scam with Hudson, who shows how the economy actually works, with the Federal Reserve printing money so rich elites don't lose their investments. VIDEO: youtube.com/watch?v=N-8m5fBbLgQ TRANSCRIPT: moderaterebels.com/transcript-us-coronavirus-bailout-michael-hudson PART 1 OF 2 Part 2: "How the US makes countries pay for its wars: Economics of American imperialism with Michael Hudson" Michael Hudson's website: michael-hudson.com (Interview recorded on April 13, 2020)