Rescuing the Banks Instead of the Economy

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.


nonclassical - October 30th, 2018 at 10:03am

Hudson lucidly definitive, U.S. economics, as always!!

CarolS - November 2nd, 2018 at 5:06pm

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. $$$$$$

Taped Mouth - December 3rd, 2018 at 8:05am

Bonnie -- keep up your interviewing of salient and provacative voices. KPFA needs free speech such as yours and those of the people you brought on air. KPFK has had a problem with lack of free speech and racism for at least the past decade thanks to the likes of Alan Minsky and others masquerading as free speechers but acting like fascists and marxists on the Board.