4) history as well

@@tukity Corporations and central banks won. Are you happy you discovered them winning? LOL. This isn't random greed, it's about creating a new normal. Enjoy. DUMMY

this is what happens when a lobbyist try to spar with a real economist

What about through the Trump presidency? Your final figure is 2018 Jan. Isn't that a bit short to determine the effect?

2021 employment numbers still in decline 2017: 82500 jobs. 2021: 79700 jobs. Source FRED NAICS 3311

Hudson is an absolute beast.

Nurple G it's all fantasy in a perfect world fantasy

that's because "austerity" really isn't a real economic system, it's government run capitalism.

trickles up always to elite.

still VODOO ECONOMICS UNDER CAPITALISM, EVERY PENNY OF A BILLIONAIRES FORTUNE IS A PENNY OF UNPAID WORK THAT SOMEONE ELSE PERFORMED.

There is trickle down if you own stocks, but even then it's only a trickle

Kosmos Faber so your point?

They do ! You have to go to prison in America to work for them . You can even take up stitching and see panties for Victoria secrets . Get Americans real close to their favorite models crotch !

That’s about as perfect a reply as I’ve read in a long time.

The U.S. is Saving the Financial Sector, not the Economy Before juxtaposing the U.S. and alternative responses to the corona virus’s economic effects, I would like to step back in time to show how the pandemic has revealed a deep underlying problem. We are seeing the consequences of Western societies painting themselves into a debt corner by their creditor-oriented philosophy of law. Neoliberal anti-government (or more accurately, anti-democratic) ideology has centralized social planning and state power in “the market,” meaning specifically the financial market on Wall Street and in other financial centers. At issue is who will lose when employment and business activity are disrupted. Will it be creditors and landlords at the top of the economic scale, or debtors and renters at the bottom? This age-old confrontation over how to deal with the unpaid rents, mortgages and other debt service is at the heart of today’s virus pandemic as large and small businesses, farms, restaurants and neighborhood stores have fallen into arrears, leaving businesses and households - along with their employees who have no wage income - to pay these carrying charges that accrue each month. This is an age-old problem. It was solved in the ancient Near East simply by annulling these debt and rent charges. But the West, shaped as it still is by the legacy of the Roman Empire, has left itself prone to the massive unemployment, business closedowns and resulting arrears for these basic costs of living and doing business. Western civilization distinguishes itself from its Near Eastern predecessors in the way it has responded to “acts of God” that disrupt the means of support and leave debts in their wake. The United States has taken the lead in rejecting the path by which China, and even social democratic European nations have prevented the corona virus from causing widespread insolvency and polarizing their economies. The U.S. corona virus lockdown is turning rent and debt arrears into an opportunity to impoverish the indebted economy and transfer mortgaged property and its income to creditors. There is no inherent material need for this fate to occur. But it seems so natural and even inevitable that, as Margaret Thatcher would say, There Is No Alternative. But of course there is, and always has been. However, resilience in the face of economic disruption always has required a central authority to override “market forces” to restore economic balance from “above.” Individualistic economies cannot do that. To the extent that they have a strong state, they are not democratic but oligarchic, controlled by the financial sector in its own interest, in tandem with its symbiotic real estate sector and monopolized infrastructure. That is why every successful society since the Bronze Age has been a mixed economy. The determining factor in whether or not an economic disruption leaves a crippled economy in its wake turns out to be whether its financial sector is a public utility or is privatized from the debt-strapped public domain as a means to enrich bankers and money-lenders at the expense of debtors and overall economic balance. China is using an age-old policy used ever since Hammurabi and other Bronze Age rulers promoted economic resilience in the face of “acts of God.” Unless personal debts, rents and taxes that cannot be paid are annulled, the result will be widespread bankruptcy, impoverishment and homelessness. In contrast to America’s financialized economy, China has shown how natural it is for society simply to acknowledge that debts, rents, taxes and other carrying charges of living and doing business cannot resume until economic normalcy is able to resume. Near Eastern protection of economic resilience in the face of Acts of God Ancient societies had a different logic from those of modern capitalist economies. Their logic - and the Jewish Mosaic Law of Leviticus 25, as well as classical Greek and Roman advocates of democratic reform - was similar to modern socialism. The basic principle at work was to subordinate market relations to the needs of society at large, not to enrich a financial rentier class of creditors and absentee landowners. More specifically, the basic principle was to cancel debts that could not normally be paid, and prevent creditors from foreclosing on the land of debtors. All economies operate on credit. In modern economies, bills for basic expenses are paid monthly or quarterly. Ancient economies operated on credit during the crop year, with payment falling due when the harvest was in - typically on the threshing floor. This cycle normally provided a flow of crops and corvée labor to the palace, and covered the cultivator’s spending during the crop year. Interest typically was owed only when payment was late. But bad harvests, military conflict or simply the normal hardships of life frequently prevented this buildup of debt from being paid. Mesopotamian palaces had to decide who would bear the loss when drought, flooding, infestation, disease or military attack prevented the payment of debts, rents and taxes. Seeing that this was an unavoidable fact of life, rulers proclaimed amnesties for taxes and these various obligations incurred during the crop year. That saved smallholders from having to work off their debts in personal bondage to their creditors and ultimately to lose their land. For these palatial economies, resilience meant stabilization of fiscal revenue. Letting privat

@@jamesmorton7881 Wow. Thank you for your thoughtful response. If I may comment along the way (and it will be a long way!). U.S. is Saving the Financial Sector, not the Economy - Yes, I think Prof Hudson may have the fist to say the market is not the economy but the plaything of the rich to get even wealthier. pandemic has revealed a deep underlying problem - Yes, to my mind the lessons learned about what has been uncovered should be job one for someone important in the administration. I think, or fear, no one there will see the mandate to do so. creditor-oriented philosophy of law - on the nose. And we the people are being boxed in or rather, painted into a more dire corner every billing cycle. Where is our representative Government save representing those who run the financial market on Wall Street (as you say). Citizens United should be (but won't ever be) the first order of business. How can we break out of this stranglehold if lawmakers are literally tying the nooses with which to hang us upside down to shake out the last of the loose change of our not only our meager earnings but our liberties and freedoms (to fight back) as well. I agree with your comments regarding principles, processes, and policies to forgive all the debts, at every tier form a personal loan, to a supplier's credit line, to a commercial property's mortgage, must be forgiven. What other choice do we have? Maybe I should not ask that question for fear of the ugliness of possible alternatives. Lastly, and I am not given justice to the effort you put out, the need moving a mix of economic types is, I believe the best way forward. I'd start with Co-Ops, and Co-Ops that bein industrial capacity back to the US. Perhaps the greatest trick the guilty parties of the financial world have done is to convince us American labor's costs is too expensive. So (to me) the only choice we have is to take ownership of American labor from them. I wish you a better 2021 than we had in 2020.

@@jamesmorton7881 you could have been alot more succinct.

Thing about Aluminum is it requires Bauxite to make. The USA has like no Bauxite.. It comes from Guinea, Australia and Vietnam. Putting a Tariff on Steel makes sense.. The USA has a diminishing but powerful steel industry... Aluminum makes no sense.. While hurting vital sections of manufacturing in the USA.

It'll be interesting to see if some reason pops up to ̶i̶n̶v̶a̶d̶e̶ stabilize Guinea...

Enfant d'Omelas During the snap General Election campaign last year, Prime Minister Theresa May said in an interview with Andrew Marr that she still supports the illegal invasion of Iraq despite now knowing there were no WMDs. Her Foreign Secretary at the time announced that the ZuK would use nuclear weapons against a non-nuclear threat. The Tories are very pro-war. They would support Trump. They even defended Trump's sexist attitude in Parliament last year. It was horrible to watch. It's the Leader of the Opposition, Jeremy Corbyn, who's been a lifelong anti-war activist, preferring diplomacy over bombs.

Timothy Janssen ?

how about military equipment?

Canada also owns the most land in the US by a great deal more than the #2 foreign owner, the Netherlands. #3 is Portugal.

He's saying trump is messing up free trade that US has been benefiting from, i.e. Import cheap material like steel and export valued added product like cars. It's a good deal for the US now.

Leaps and bounds above Europe even though since the '80s we have been going downhill due to outsourcing everything .

delon a Your second amendment exists to protect the US people against the US government.

I would ask who do you imagine that cost would hurt the most. Get the money from those who caused the problems and get all the profits.

Not necessarily. A lot of the criticism stems from the fact that raw materials needed for production of other products are getting targeted by these tariffs. A lot of the critics would not have said anything if Trump had put these tariffs on cars. Remember, there was no huge outcry from the left over the tariffs for washing machines when he anounced that one, even though I don't know if he ever implemented it. And there are even unions, working in the industries working with steel and aluminium who see their jobs endangered now, because production costs will go up and that could drive down demand for those products in the end.

i agree Nikola, TPP and TTIP was nothing more than the handing over of all Government Sovereignty to 600 U.S Corporations.= Slavery= One world order.

Phil Uhrich That may be the case, but his comment in this video seemingly implied that he was pro-TPP.

Phil Uhrich Nice cazwell playlist btw 🤤✌🏼

Nikola Demitri it's the right wing that's freaking out over these tariffs.

I read Hudson's work and he is an advisor to nations. She is not in his league.