Euro SOS Debate
Jeff Sommers and Michael Hudson in Russia discussing the Euro future with journalist Matthew Lynn.
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On the State and Local Budget Crisis
By Michael Hudson
The State and Local Budget Crisis
The cost of the 2011 cutbacks in federal spending will fall most directly on consumers and retirees by scaling back Social Security, Medicare, Medicaid and social spending programs.…
Policy Conclusions for Russia (Part 2)
Can Russia get the best of both worlds by freeing its economy from technologically unnecessary charges and rentier tolls paid to special interests? Such expenditures prevent the economy from developing. That is the basic cause of poverty –…
Russia’s Economic Interests (Part 1)
The neoliberal idea is to dismantle the government’s ability to regulate markets to steer growth and economic advance in the national interest. They claim that this is an alternative to centralized planning. But the reality is that it…
War and Debt
The essence of classical free market economics was to restrict Executive power – in an epoch when war-making power was the major abuse of national interests. Just as the lower house of bicameral legislatures had taken over the power to…
Save the Bankers
Michael Hudson argues forcefully that the juxtaposition of bailouts for the largest American banks and cuts for ordinary Americans makes clear that government is promoting a redistribution of income to upper income brackets. He sees the…
Obama’s Debt Ceiling Doubletalk
Michael Hudson argues that President Obama says one thing, and he does the opposite. Here’s basically the charade that’s happening when he’s trying to be reasonable. In order for him to move way to the right and to continue the Bush…
Privatizing Will Make Life Worse
This article was published in the NYT more than 20 years ago, forecasting precisely what has happened in Russia
Wither Greece
Only a referendum can commit the Greek government to repay new debts imposed under austerity. Only a referendum can prevent property that is privatized from being re-nationalized. Such a transfer is not legitimate under commonly accepted…
Free Money For Big Banks, Lumps of Coal For Everybody Else
In the case of bailing out Wall Street – and thereby the wealthiest 1% of Americans – while saying there is no money for Social Security, Medicare or long-term public social spending and infrastructure investment, the beneficiaries are…