Renegade Economist US Special with Dr. Michael Hudson
Posted by admin in Finance Thursday, 20 May 2010 04:21 28 Comments
The Renegade Economist goes to New York to hear Dr. Michael Hudson’s views on the state of the US Economy.
Posted by admin in Finance Thursday, 20 May 2010 04:21 28 Comments
The Renegade Economist goes to New York to hear Dr. Michael Hudson’s views on the state of the US Economy.
@Tobacc0
2) The details of this “ascendancy” was Karl Polanyi’s other main contribution. Far from a “natural” or “necessary” outcome, Polanyi argued that capitalism evolved from the demands placed by new mercantile and then bourgois classes upon the State to protect their fledgling enterprises and precarious social status. In this way, governments became the handmaiden of capitalism, helping to advance it with the necessary legislation and execution by virtual force of arms.
In famous book The Great Transformation
Karl Polanyi’s central thesis is that capitalism is a historical anomaly because while previous economic arrangments were embedded in social relations,in capitalism,the situations was reversed – social relations were defined by economic relations.Polanyi’s view,in the sweep of human history,rules of reciprocity,redistribution and communal obligations were far more frequent than market relations. completely replace all modes of interaction with the other
Dr. Hudson is very cute
G-d bless him.
Haha.. Love the way they stride off in different directions at the end. Case closed.
33 Liberty Street is the address for the FRBNY. 33 degrees in freemasonry Scottish rite. Coincidence? Maybe.
Speculators will tell you that they are aware of the imbalances and have been for decades but you try going against the trend and you will be punished.
History has shown that large groups of people can behave irrationally for long periods of time. And this is not confined to Economics
mmmm…..well I would say that it is not Psychology….its not thinking rationally.
Nuanceqwest: Don’t tell me that conservatives were not for free trade
——
Oh, ABSOLUTELY! When I say “ultra-liberal” in this context or “neo-lib”, I dont mean Kucinich or Kennedy.
I mean an attempt to FALSELY tie lassez-faire Market God invisible hand to Founders, who did NOT do that — Hamilton led a managed growth economy, not a “bankers rule all” plan.
I wish this was not true, but Right Wing econ ideology from Mises to Reagan was financed by Rockefeller + Wall St, the “Liberal Estab”.
Don’t tell me that the conservatives were not for “free trade” when they very well knew that their lobbyists clients were just waiting to shift production from the US to China for profit while they preached patriotism with an iron fist.
Conservatives, in my opinion, are just as much to blame.
trade and budget deficits for decades,
This was by DESIGN of the banking cartels, ironically the ultra-liberals, Rockefeller, neo-liberals of the East Coast, NYC, and Chicago School where Obama attended, ironically sold as “conservative”. Policies to intentionally destroy productive factories in the US, lower wages globally.
fundamentalist will tell you this is bad for the currency and bad for the economy
the same neoliberals who produced the problems push a false ideology to benefit them
Back in 1960s about 70% of dollars spent on trade were for actual products, real goods that were used by real people.
However, by the late 1990s derivatives speculation had grown so high that only one half of one percent of dollars changing hands were spent on real goods.
The other 99.5% was spent by financial speculators on bets on the worth of global COMMODITIES, or in currency speculation, the trade of money itself.
Do commodities investments *now* produce food? NO, they loan-shark food.
I dissagree on his idea of pyschology
We have had trade and budget deficits for decades, fundamentalist will tell you this is bad for the currency and bad for the economy but how long did it take for this to become a reality?? ?
Psychology has made us believe everything was ok for decades.
Xavster, if I’m not mistaken, that’s a part of capitalism: the inherent risk in making a loan. If you make a bad loan, you risk not having it paid back.
watch?v=GJMQCcFFzak
I’m glad you asked, xavster. My answer is NO, I did not borrow somebody’s money, because the so-called “money” that I was supposedly “lent” did not exist previously. The Fed banking cartel has exclusive, congressional license to create money out of thin air and “lend” it to people at interest. How would YOU like to have the right to make your own “money” and lend it out at at 10% to 20-30% interest now? Well you CAN’T. That would be counterfeiting. ONLY the Fed gets to counterfeit.
so you borrowed somebody’s money and refuse to pay it back? how noble.
but if you’re investing your money in commodities it means you’re helping to produce those foodstuff so people won’t starve.
am I missing something here?
This guy is a modern day J.A. Hobson. Listen to his interview on KPFA’s Guns and Butter from Aug 26. Authoritative as usual
This is exactly why I have committed my own form of Civil Disobedience in order to survive economically. I refused to mortgage my homestead, and I defaulted on over 94K in unsecured debt held by large Federal banks, and I defeated collection legally without hiring a lawyer. If I can do it, you can do it. I show you exactly how I did:
watch?v=kkcnQdWzC3s
Mr. Hudson has just completely validated my decisions and made my day.
Brilliant & lucid explanation.
I feel validated. I have not (and will not) mortgage my property. I own my home outright, in one of the only two United States which are 100% Homestead States. As long as I can afford my property taxes, and I never borrow against my homestead property, no one can foreclose on me and I can never be thrown off my land. I am not a serf.
I have defaulted on over 94K of unsecured debt in order to survive, and I have defeated debt collection.
watch?v=GJMQCcFFzak
Is Michael Hudson amazing or what? Says exactly what needs to be said exactly how it needs to be said- bluntly ad forcefully. If you’re looking for his coup de grace, check out his article The IMF Rules the World.
Michael Hudson is outstanding he is so informative and entertaining.
Mike Hudson … great truth teller !
Thx for the video !
I doubt they will pay Europe’s debts. Germany has enough debt on its own.
Also, if you haven’t seen your credit report (from all three agencies) then you may wish to do so only to determine if there are any faults that you can correct. That will as well put up a spike in your credit score if you can get any of those negative incorrect points deleted.
Good site and good articles…
I like the way you write. Your style is very smooth and I enjoy reading your articles. I think I will be back later and look forward to read more useful posts….
I never thought I would have to know this, but thank goodness for the web, right?