The Looming War Against China (tags)
In the United States, in the wake of Ronald Reagan's tax cuts for the wealthy & state-undermining deregulation, & Bill Clinton's "Third Way" takeover by Wall Street, there was an equally devastating shift of wealth & income to the finance, insurance & real estate (FIRE) sector. The "Third Way" was financial capitalism that made its profits by exploiting & indebting industry and labor.
Is the USa Failed State with Michael Hudson (tags)
It’s a failed state because its economy is paralyzed and we’re in a debt deflation, an economic polarization, that is just transferring all wealth and income away from labor, away from industry, into really the financial sector and what I call the finance, insurance, and real estate sector.
Michael Hudson on de-dollarization (tags)
Krugman is saying that other people have no reason at all for what they’re doing. And when they move out of the dollar, there’s no reason for them to do it. If you read what these countries say, they explain why they’re doing what they’re doing. .
War in Ukraine. Nato taboos fall (tags)
This military-scientific glorification of a war that has long been hopeless for both sides, which is also supported by some media, leads to the postulation of the prospect of victory against one's better judgment. What is meant, however, is more likely a victorious peace.
Ukraine war - a new stage (tags)
One of the peculiarities of this war is that it remains a war of aggression by Russia, but some characteristics have changed. When Tsar Putin gave the order for war in February, the war was against fascism in Ukraine...Putin's order for partial mobilization is also good news. It means that nuclear weapons will probably not be used.
95 Theses Against the Rule of the Financial Markets (tags)
The financial markets have made themselves independent of the real economy. As the selling of indulgences led to Martin Luther's 95 Theses in 1517, the rule of speculative financial markets has led to revenue shortfalls of US cities and states. Tax havens hide between $22-33 trillion.
The historic push of East Central Europe into Nato (tags)
What is the end of the war song? It is and was destruction, death, human suffering and traumatized populations. And in our time, in addition, it is the suspension of the necessary global and joint efforts of all nations in the fight against the threat of climate catastrophe.
Fighting the Causes of Flight (tags)
The refugee debate is back but only the symptoms are in the spotlight. Refugees are fought instead of the causes of flight. The political failure is as dreadful as the forgetfulness of the media and politics. More than 70 million persons are fleeing from war, persecution and conflicts.
Misguided Calls for More QE (tags)
QE
Entrapping Greece in Debt (tags)
Greece
America's Interventionist Legacy (tags)
anti-war
Greek Election: Mixed Messages, Hold the Cheers (tags)
Greece
Market Euphoria: The Mother of All Ponzi Schemes (tags)
markets
Argentina's Christina Fernandez de Kirshner's UN Address (tags)
predatory capitalism
Ukraine
VIDEO: "The Four Horsemen" (tags)
Finance capitalism is an outgrowth of self-healing markets and too-big-to-fail banks, perverse business models and perverse incentives where speculation and creating money out of thin air are normalized.
Hardwired Inequality in America (tags)
class war
New York Times Supports Austerity Harshness (tags)
class wa
Fiscal Cliff Postmortems (tags)
class war
Flim Flam Fiscal Cliff Legislation (tags)
class war
Fiscal cliff is a hoax, may be bipartisan excuse to kill off U.S. poor people! (tags)
The media hype about the so-called fiscal cliff is just another bipartisan excuse to increase the gap between the wealthy and ever increasing number of poor people in the U.S. Notice both parties are advocating large cuts to social safety net programs when people are already struggling with poverty, while U.S. military bases remain operational on foreign soil through the Earth and only Presidential candidate Ron Paul was willing to save money by closing ALL overseas bases.
Economists Argue over Distribution Question (tags)
More and more economists take distribution questions seriously. When inequality becomes too great in a national economy, the economy becomes unstable. Private indebtedness and income inequality massively increased in the US Financial markets uncoupled from real economy
class war
US Cities Going Bankrupt (tags)
class war
Protesting Social Injustice by Self-Immolation (tags)
Israel
Greece Reflects Growing Economic Turmoil (tags)
class war
Goldman Sachs: Making Money by Stealing It (tags)
grand theft
class war
Readying the Greek Corpse for Burial (tags)
class war
Greece: The Epicenter of Global Pillage (tags)
class war
Financial Oligarch Power Raping Greece (tags)
class war
Banker Occupation and Europain (tags)
class war
class war
Global Economic Crisis Deepens (tags)
economy
Political Washington Fiddles While Rome Burns (tags)
class war
class war
The Fix Is In: Washington's Planned Social Contract Destruction (tags)
economy
Video: Michael Hudson on Democracy Now (tags)
Pushing Crisis: GOP Cries Wolf on Debt Ceiling in Order to Impose Radical Pro-Rich Agenda
Debt Ceiling Debate Charade Masks Planned Entitlement Cuts (tags)
criminal plan
Video: Debt Ceiling Charade a Move to the Right - Michael Hudson (tags)
Michael Hudson is a distinguished research economist at the University of Missouri.
Dismissively Ignoring Hard Times (tags)
depression
IMF Financial Terrorism (tags)
financial terrorism
Spanish Voters Reject Austerity (tags)
financial terrorism
America's Terminal Decline (tags)
empire
Videos on Debt and Recession: Michael Hudson, Richard Wolff and Dean Baker (tags)
We face a worldwide downward spiral and the capture and instrumentalization of the state by big capital. We face a repressed 40-year crisis of capital, a neoliberal counter-revolution of reduced corporate taxes, wage stagnation, language distortion and state indebtedness,
We live on credit, shift costs and risks into the future and make possible a prosperity with the help of a policy of cheap money that is paid for by others. An interest-free money system would be a counter model to the growth pressure inherent in the present system.
Bretton Woods 2.0: Soros New World Order Conference (tags)
new world order
Icelanders Vote on Predatory Bailout (tags)
bailouts
imperialism
Olbermann's Sacking Shifts US Media Further Right (tags)
corrupted corporate media
Obama's New Chief of Staff and Economic Team (tags)
Wall Street dominated
13 Episodes of Rocky and Bullwinkle (tags)
Hope like the immigrant is often annoying and unwelcome. Maybe disillusionment can be a new beginning (cf. Doug Henwood, Left Business Observer).
Video: Why Government is More Afraid of Debt than Depression (tags)
To the Deficit Commission, depression is the solution. By paying workers less, banks and corporations profit. The parasite has taken over government and its own brain. While real wages have gone down, all productivity growth is siphoned off by financial capitalism.
Corporate Media's Version of Economic Justice (tags)
middle class destructions
Imperial America's End Time (tags)
not imminent but coming
Destructive Neoliberal Austerity (tags)
austerity, not stimulus coming
Ruling on Behalf of Wall Street's "Super Rich": The Financial End Time has Arrived (tags)
"Alas, the Obama administration has backed the Geithner-Bernanke policy that “the economy” cannot recover without saving the debt overhead. The reality is that it is the debt overhead that is destroying the economy. So we are dealing with the irreconcilable fact that the Obama position threatens to lower living standards from 10% to 20% over the coming few years – making the United States look more like Greece, Ireland and Latvia than what was promised in the last presidential election. Something has to give politically if the economy is to change course. More to the point, what has to give is favoritism for Wall Street at the expense of the economy at large. What has made the U.S. economy uncompetitive is primarily the degree to which debt service has been built into the cost of living and doing business. Post-classical “junk economics” treats interest and fees as payment for the “service” for providing credit. But interest (like economic rent and monopoly price extraction) is a transfer payment to bankers with the privilege of credit creation. The beneficiaries of providing tax favoritism for debt are the super-rich at the top of the economic pyramid – the 2% whom Mr. Obama’s tax giveaway will benefit by over $700 billion. If the present direction of tax “reform” is not reversed, Mr. Obama will shed crocodile tears for the middle class as he sponsors the Deficit Reduction Commission’s program of cutting back Social Security and revenue sharing to save states and cities from defaulting on their pensions. One third of U.S. real estate already is reported to have sunk into negative equity, squeezing state and local tax collection, forcing a choice to be made between bankruptcy, debt default, or shifting the losses onto the shoulders of labor, off those of the wealthy creditor layer of the economy responsible for loading it down with debt."
Quantitative Easing: Elixir or Poison? (tags)
QE indeed poison as being used
Reviewing Project Censored's Top 2009-10 Stories (tags)
PC's top censored stories
Wrecking the American Dream (tags)
bipartisan supporting for anti-populism
The Banking and Financial Crisis (tags)
"The transition from a long-term to a short-term orientation went along with the exaggerated profit goals. The approach of shareholder value sets maximum profits and dividends in the center of business policy and no longer long-term investments and the interests of employees.."
A Financial Boom Despite the Crisis (tags)
For the banks, deficit state budgets become important clients. They compensate the private demand for credit. The financial boom is completely based on support measures of state organs. An economic upswing is not in sight.
Worldwide Economic Crisis: Two Opposite Models as Answers (tags)
In a large part of the population, there is a consensus that capitalism has no answers to the great social challenges of social security, hunger and climate change. An alternative investment program (emphasizing children, culture and climate change) gives a long-term answer.
Life after the Peak: Capitalism and the Market Economy (tags)
All over the world there are experiments with renewable energy, solidarity economies and non-profit economic forms. A growth acceleration law will be absurd when fossil energy runs out. We will need a growth de-acceleration law.
Does anybody really care? (tags)
“They” have an awful future planned for most of us and it’s time to get wise to this setup b4 it is too late!
Deficit Hysteria: Wrongheaded in Times of Depression (tags)
proposed policies are wrecking economies
Death Squad Terror in Honduras (tags)
terrorist killings
Competing Ideologies: G20 v. US Social Forum (tags)
state terror on Toronto streets
The "Houdini Recovery" under IMF-Type Austerity (tags)
the recovery is the big lie
Selling Out America to Wall Street (tags)
pillaging American wealth
Obama's Outreach to Americans: Empty Rhetoric, Business As usual (tags)
Expect business as usual ahead
Reviewing Project Censored's Latest Top 25 Censored Stories (tags)
Project Censored's fabulous new book.
Michael Hudson's "Super Imperialism:" The Economic Agenda of Imperial America (tags)
How imperial America is funded
Obama's Financial Reform Proposal - A Stealth Scheme for Global Monetary Control (tags)
global dominance, not reform is planned
Manipulation - How Markets Really Work (tags)
Insiders move markets up or down for profit.
Obama's New World Order (tags)
Obama's imperial agenda
Monetary and Fiscal Failure, Fraud, and Fear of What's Next (tags)
looting the treasury continues with militarism ready to confront dissent
Dispatches from the Front Lines of the Economic Crisis (tags)
economic conditions worsening
The Language of Looting by Michael Hudson (tags)
What "Nationalize the Banks" and the "Free Market" Really Mean in Today's Looking-Glass World
Toxic Plans for Toxic Assets (tags)
Obama stimulus from hell.
A Short History of US Government Handouts (tags)
The American way - socialized costs and privatizing profits
A New Administration, Tired Old Policies (tags)
Counterproductive policies heading America for depression
Some Thoughts on Obama and the US Empire (tags)
Chris Burnett is host of "Indymedia On Air" on KPFK 90.7 FM, Los Angeles
Early Suspicions About Bernard Madoff (tags)
All Wall Street like Madoff
Obama's New Appointments (tags)
as bad as the others
Obama's Economic Dream Team? (tags)
indeed for Wall Street bankers
Growing financial crisis.
Past sins are coming home to roost.
The October Surprise - Global Panic (tags)
It's not over.
The Wall Street debacle is bipartisan. High-rolling gamblers after losing all their banks' money are coming to taxpayers for bailouts. The economy is being sacrificed to save the gamblers (Michael Hudson).
Interview with Michael Hudson on the Worsening Debt Crisis (tags)
"Fannie and Freddie have been loading up on risky mortgages for ages, under-stating the risks largely to increase their stock price so that their CEOs can pay themselves tens of millions of dollars in salary and stock options."