The sanctions that U.S. diplomats are insisting that their allies impose against trade with Russia and China are aimed ostensibly at deterring a military buildup…
How Stupid Do European Politicians Think Their Citizens Are?: China Is Aggressively Reselling Russian Gas to Europe…
One month ago, we were surprised to read how, despite a suppressed appetite for energy amid its housing crash and economic downturn (for which “zero covid” has emerged as a convenient scapegoat for emperor Xi), China has been soaking up more Russian natural gas so far this year, while imports from most other sources declined…
Will Europe Go Down to Defeat Before Ukraine?…
During the runup to the financial crisis, your humble blogger pointed out that financial time moved faster than political time. Market players often had better and more comprehensive access to important information than officials did and had strong incentives to act on it…
Europe’s Economic and Social Suicide – Provoked by the U.S. and Helped Along by Europe’s Leaders…
Due to the stupidity of Europe’s political leadership the U.S. has managed to push it towards committing economic and social suicide…
Two Examinations of U.S. Economic Policy…
Today I am pleased to present a double feature on economic policy. Michael Hudson leads off with an explanation of economic policy as a social cost to the working class, and I follow up with an explanation that US economic policy is an act of national suicide…
The Delphic Oracle Was Their Davos: A Four-Part Interview with Michael Hudson: Mixed Economies Today, Compared to Those of Antiquity (Part 2)…
Michael Hudson: There are many degrees of how “mixed” an economy will be — meaning in practice, how active its government sector will be in regulating markets, prices and credit, and investing in public infrastructure. In the 20thcentury’s Progressive Era a century ago, a “mixed economy” meant keeping natural monopolies in the public sector: transportation, […]
The Delphic Oracle Was Their Davos: A Four-Part Interview with Michael Hudson About His Forthcoming Book The Collapse of Antiquity (Part 1)…
Rescuing the Banks Instead of the Economy…
You can’t bail out the banks, leave the debts in place, and rescue the economy. It’s a zero-sum game. Somebody has to lose. That’s what happened in 2009 when President Obama came in. He invited the bankers to the White House and he said, “I’m the only guy standing between you and the mob with […]
World’s Best Economist Tells All!…
If you want to learn real economics instead of neoliberal junk economics, read Michael Hudson’s books. What you will learn is that neoliberal economics is an apology for the rentier class and the large banks that have succeeded in financializing the economy, shifting consumer spending power from the purchase of goods and services that drive […]
It’s Time for the Clintons, Rubin to Go–and Soros Too by Michael Hudson…
In the week leading up to last Tuesday’s election the press was busy writing obituaries for the Republican Party. This continued even after Donald Trump’s “surprising” victory – which, like the 2008 bank-fraud crash, “nobody could have expected.” The pretense is that Trump saw what no other politician saw: that the economy has not recovered […]