Rescuing the Banks Instead of the Economy
Posted on September 26th, 2018

Guest: Michael Hudson 

2018 marks the 10th anniversary of the stock market crash of 2008; the current financial malaise is the result of the bank bailouts, not the crash; an over-indebted economy cannot be saved unless the banks fail; debt deflation; the magic of compound interest; how pension funds, state and local governments adversely affected by the bank bailouts; growth of the financial extraction FIRE sector (finance, insurance and real estate); quantitative easing; asset price inflation; wealth concentrated at the top in Roman antiquity led to the Dark Age; Eurozone imposition of austerity Greek style; tariffs, economic sanctions and isolationism.


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2 Comments

nonclassical - October 30th, 2018 at 11:03 AM
Hudson lucidly definitive, U.S. economics, as always!!
CarolS - November 2nd, 2018 at 6:06 PM
Mike is so honest.. such integrity. So clear. Lovely soul. Just like Ms Bonnie! Thank Goddess we have some of these voices still. KPFA is now obviously the controlled opposition.. I guess we shouldn't be surprised. $$$$$$
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