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.
Video: Michael Hudson on Democracy Now (tags)
Pushing Crisis: GOP Cries Wolf on Debt Ceiling in Order to Impose Radical Pro-Rich Agenda
Economic troubles are broad, deep and worrisome.