Super-Imperialism
Posted: Monday, March 12, 2012 - 08:29
Transcript
PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The Real News Network. I’m Paul Jay in Washington. Concentration of ownership leads to concentration of political power. It’s rather obvious. It’s practically a truism. But it’s not something you will hear said very often on mainstream media. But it certainly goes to the core of what’s happening in Europe, Greece, and in United States and Canada and many—most other countries, if not all. Now joining us to talk about the relationship of banks, big banks, financial power, and public policy is Michael Hudson. Michael was a former Wall Street financial analyst. He’s now a distinguished research professor of economics at the University of Missouri–Kansas City. And you can find his work at...
Posted: Tuesday, March 6, 2012 - 13:00
I have just returned from Rimini, Italy, where I experienced one of the most amazing spectacles of my academic life. Four of us associated with the University of Missouri at Kansas City (UMKC) were invited to lecture for three days on Modern Monetary Theory (MMT) and explain why Europe is in such monetary trouble today – and to show that there is an alternative, that the enforced austerity for the 99% and vast wealth grab by the 1% is not a force of nature.
Stephanie Kelton (incoming UMKC Economics Dept. chair and editor of its economic blog, New Economic Perspectives), criminologist and law professor Bill Black, investment banker Marshall Auerback and me (along with a French economist, Alain Parquez) stepped into the basketball...
Posted: Thursday, February 16, 2012 - 08:03
"Finance today achieves what military invasion used to do in times past so the new mode of warfare is financial not military"
Posted: Tuesday, February 7, 2012 - 10:18
The inherently symbiotic relationship between banks and governments recently has been reversed. In medieval times, wealthy bankers lent to kings and princes as their major customers. But now it is the banks that are needy, relying on governments for funding – capped by the post-2008 bailouts to save them from going bankrupt from their bad private-sector loans and gambles.
Yet the banks now browbeat governments – not by having ready cash but by threatening to go bust and drag the economy down with them if they are not given control of public tax policy, spending and planning. The process has gone furthest in the United States. Joseph Stiglitz characterizes the Obama administration’s vast transfer of money and pubic debt to the banks as a “...
Posted: Tuesday, January 31, 2012 - 10:57
On November 3, 2011, Alan Minsky interviewed me on KPFK’s program, “Building a Powerful Movement in the United States” in preparation for an Occupy L.A. teach-in. Listen to the interview. To clarify my points I have edited and expanded my answers from the interview transcript.
Alan Minsky: I am joined now by Michael Hudson. He is a distinguished research professor of economics at the University of Missouri-Kansas City, and also is president of the Institute for the Study of Long Term Economic Trends. Welcome to the show, Michael.
Michael Hudson: Thank you very much.
Alan Minsky: Michael Hudson is scheduled to address Occupy L.A. as part of a teach-in that includes William Black and Robert Scheer, who will be moderating the panel that...