Michael Hudson is so very important to our understanding of the world we live in today. Thanks for this

Michael is my favourite economist. I wish I had half the knowledge this guy has.

This commentary is explaining perfectly the present 2023 economic situation pertaining to the current failures of banks and the strategic political responses, announced bailouts etc, and accurately predicts the fate of society as a result.

After starting out in the world with a degree in economics, marketing, management, statistics, programming, economic geography and accounting/finance followed by 45 years of seeing neoliberalism at work tearing down what was built after WWII, I run across Michael Hudson who articulates my conclusions of reality. He is one of the most honest and observant analysts I have come across. A MUST 'listen to' if you are not in a walking coma. Things are going to get very bad from this 'covid pandemic' in economic terms due to mortgage and payment defaults resulting from the 'cheap credit' trap and THAT is when Neoliberalism and privatization jumps into high gear.

Awesome interview. Great Job Dante and Paul!! Mr Hudson is one of the most important scholars of our time!

Michael Hudson. Steve Keen. David Graeber. Bill Black. Nomi Prins. Ellen Brown. Mark Blyth. Noam Chomsky.

Dr. Hudson is great - love to hear him speak. There aren't enough interviews with him, so thank you.

I misunderstood Hudson in previous talks. Now I see he's right on. Another great voice. Thanks for having this talk.

Thank you, Michael Hudson.

Great to see you guys giving Hudson time.

Thank you SO MUCH. I love Dr. Wolff but Michael C. Hudson is my favorite all-time living economist. His books, Killing the Host and J is for Junk Economics, are simply fabulous!

LOVE MICHAEL HUDSON!

I have an economics major and pretty much everything Michael Hudson says is true. I literally felt like I was being brainwashed in some of my classes, and inherently knew that I was missing something; thank goodness I did my own research.

Awesome Michael Hudson.

This was such a good interview, very deep and truthful. Simply - scientific. I lower Richard Wolff but please - more of Michael Hudson...

One of the best and accurate accounts of the economics of the West.

8:16-10:12 Instutionalist definition. Wow. Amazingly put. Have to give props to the interviewers. This was a very well structured interview.

So much wisdom and such a knowledgeable lovely man. My one request is ( if at all possible ) for Prof.Hudson to present his fabulous knowledge in the manner Prof. Wolff presents his great information.

excellent interview I love Michael Hudson & have his book Killing the Host. Glad you did this you should have more of these A+ job.

Nice to hear Michael Hudson on your program. Would love to hear from Stephanie Kelton, L. Randall Wray, and Pavlina Tcherneva as well.

love keen and sub to him here on you tube . like keen mr hudson has a clear understanding of the reality of the economy , and we need more like him. thanks for the interview. i find nothing but truth in evry word of this. mr hudson should be heard everywhere.

Nice to hear fellows of Mr Wolff

Thanks Democracy At Work.:)

GREAT interview! Thanks for doing this.

Great to hear Michael Hudson on d@w. Would be nice to also have Mark Blyth and Nomi Prins on as well.

Thank you for this valuable interview1

This guy is about the best really.

Great work d@w team

Stay with this Michael Hudson!!!!

Absolutely brilliant, enlightenment of our bias economic system.

You and Noam Chomsky. Great American thinkers.

The more I get into undestanding this junk neufeudale orwell econemy, the more horofying it is. Great teaching Michael.Thanks

The lowering of interest rates did benefit some people who were victimized by sub-prime mortgage loans and were eventually able to refinance out of these loans and reduce their interest costs. The number of people who benefited was not huge, of course, because they were people who continued to be employed and had maintained their credit. Others, those who either knowingly participated in loan fraud or did not really understand the terms of the loans they were agreeing to ended up evicted from their residence after a foreclosure proceeding. Many remain homeless even today.

Fantastic interview and information.

MONEY worship is the primary problem.

Pure disciplined Political Intelligence. Excellent.

This is an awesome knowledge source - thanks!

It is difficult to argue against Professor Hudson's conclusion that the actions of the world's major banks have been self-serving and a primary cause of economic chaos. That said, not all financial institutions are the same. Not all banks abandoned prudent underwriting standards when making loans, either to people purchasing a residence or businesses needing financing for expansion. The problem even for prudent banks is that once an economy falls into recession, businesses cut back on spending, unemployment increases, the collateral value of assets backing loans falls, and the damage spreads throughout the population. The immediate public policy issue is who among those harmed deserves to be helped. The deeper issue is whether our elected officials have the integrity to implement systemic reforms that will prevent the same problems occurring again and again.

This is exactly what they say " you will own nothing and be happy " thanks DAVOS!!! WE JUST SAT IN FRONT OF A SCREEN AND WATCHED IT HAPPEN AND PRETENDED IT WASN'T REAL!!! BURY YOUR HEAD IN THE SAND AND HOPE SOMEONE ELSE SAVES YOU???

He always breaks things down. The fix is in, and he tells it like it is.

Civil War doesn't have to be a physical confrontation. It can be a financial issue, refuse to pay and millions of people worldwide protesting peacefully in the streets. If you aren't willing to die for liberty you will die from starvation!!!!!

wow guy blew my mind. great podcast but it wont let me share it.

This was an amazing interview

Thank you for this informative lecture!

Greece needs to create it's own currency, like the US does.

Facebook has blocked this link. Go to their debugger, and put it in, you will see, they tell you it is blocked. COMPLAIN. Not sure whether it is censorship or a mistake, but either way, complain.

I assume you are for the dismantling of neo liberalism as the framework that underlies society like me? I started work in 1978 and had union coverage and was part of the middle class i.e. FDR's new deal society now we are in a society straight out of George Orwell's 1984.

MH thx for Truth and Knowledge ❤️

For instance the word, liberal. Hot potato now. Berniecrat not so bad. I don't care what any one wants to label a package, I research the fine print on the back and then make further considerations. Disclaimers are the back door out and paying attention to that in the beginning should dictate any onward progression around the land mines created by the legal system.

Great to hear Wallace Shawn doing well

It would be really useful for the more studious of us if the podcast could be annotated with any references to persons, works, or events that Mr. Hudson (or any future guest) makes. If I listened in my car and couldn't take notes or lookup things immediately, I'd have to take the time later to search in the stream for the right spot etc for any interesting reference... Not that I wouldn't do it but a simple list in the 'Show more' section would suffice and make this an all the more powerful and serious podcast.

It seems as though sociologists would make better economists...yet our government is run by economists

I can't even find a video about this debate he talked about between Keen and Krugman... can't imagine why? If anyone has a video could they plz link me

Economic alienation is a loss of the "locus of control" over one's workplace, thus one's life.

@25:30 most academic economists do not know or admit their entire edifice is flawed, even our own Prof Wolff does not *fully* admit it, he still (erroneously) believes taxes fund government spending.

ACE GO TO GUY...ALL HAIL THE SCARLET BANNER

thanks

Is there anywhere I can watch the Paul Krugman Steve Keen debate that Michael Hudson mentions??

I still have some questions. I guess my main question, from which all my other questions or concerns regarding Michel Hudson's philosophy, revolves around how to safely extricate the parasitic elements of FIRE (finance, insurance and real estate) from the main street host. I say, the parasitic elements of FIRE, because I think it oversimplifies things to imply that all of FIRE is a parasitic malevolent force on society. But reading and listening to Mr. Hudson, it isn't entirely clear to me whether he thinks all of FIRE is parasitic or for what aspects are so, how do we go about the extrication process safely. It would seem to me that we living in a much more complicated situation insofar the parasite and the host are sharing the same 'blood supply', so to speak. Therefore, just yanking off the parasite could be very hazardous to the health of the host. While the top 5 percent may own the bulk of stock equities, I think a lot more than 5 percent of the population own a significant amount of stocks, usually through their 401k's or 403b's and IRA's. So any actions that has knock-on effect of crashing the stock market and a lengthy trough could be financially devastating to much of the remaining middle class population. While maybe the markets and the economy could have let Citibank fall, I'm not so sure about AIG. While lending may be currently tight, correct me if I'm wrong, but I believe there is still a great deal of small business lending going on with banks and credit unions providing loans for businesses very frequently. However, if that lending were to really dry up completely as we were warned could have happened if not for the infusion of stimulus cash into the economy soon after the fall of Lehman Brothers, then wouldn't we be facing an economic crisis on a scale severe enough to lead to a civil emergency similar to a natural disaster? Further complicating matters, isn't that there is a legitimate element to each area of FIRE. How are we going to, in any parasite extraction process, separate any legitimate actors from the malevolent ones? I'm not saying it can't be done, but we need to make sure we aren't throwing the baby out with the bathwater, so to speak. To take an analogy from the movies that I think has some realistic relevance to main street finance -- let's make sure we don't take measures that bring down the Bailey's Savings and Loan of the world while trying to go after the Potter's empire of the world, from the movie 'It's a Wonderful Life'. And to take examples not from the movies but straight from today's economic realities -- in terms of a mass discharging of debt, that sounds nice for the students facing mounting student loans but it doesn't sound so nice for the current and future retirees expecting municipalities and corporations to meet their highly underfunded pension debt obligations. I don't mean to be a naysayer but we need to come up with a plan where we have covered all the bases so that we can not only answer the tough questions, but also to get to where we are to trying to go. Indeed, I'm concerned that if we were to implement a plan, for instance, that did crash the markets and dry up small business loans, then the parasitic malevolent elements would sweep in like the Potter character from the movie previously mentioned, and say to the effect "see, you were wrong all along, so from now on let me do the thinking and planning while I buy up all of your land and shares for pennies on the dollar." I have all sorts of ideas myself for how to go about the parasite extraction process. I think Bernie Sanders has some good ideas that are a good start, but I think we can safely be a lot more aggressive with progressive reforms than even he is suggesting. For instance, I haven't heard Sanders even mention what I think we need to delve into and that is Federal asset taxes on corporations and the top one tenth of one percent of individuals. That, and we need to access revenue from other novel sources as well such as a Wall Street high frequency trading machine transaction tax. We can also get revenue from increased Tariffs and Excise taxes. We should also be better leveraging revenue when natural resources are extracted from federal lands. Personally I would rather Federal lands be preserved as much as possible in their natural state, but if it is already decided to sell some of the land's resources, we might as well do so in a financially responsible manner. So, instead of selling off the rights to all the timber in a tract of Federal land in a no-reserve auction, sell the timber for the going rate per board foot just as a private landowner would. Additionally, the US Treasury could bypass the private Federal Reserve, and increase the money supply by minting more coins in larger denominations. Then all this new revenue and money could be used towards instituting an FDR type of civilian conservation corp like program to rebuild our nation's infrastructure. Additionally we will be needing a lot of revenue if we are to have any chance of making up for the looming pension shortfalls that, if not remedied, will be hard on not only the pensioners, but also the overall economy due to the resultant lowering of aggregate demand from retirees having much less dollars to spend in their pockets.

20:00 the average holding period of stocks is years or lifetimes for most investors.

12:05 Someone know where to find the Alan Greenspan quote?

Any Idea why Facebook won't let me share this?? Any workarounds?

Neoliberalism's fatal (intentional) flaw: Do not confuse the economic - oikos nomia - the norms of running home and community with chrematistics - krema atos - the accumulation of money. ~ Aristotle

HUDSON FTW!

Love Not War

*"The institutionalists said there's a reason why we are not achieving what's technologically possible* _[a world of {RELATIVELY EQUAL} prosperity e.g. a three day workweek with five hour days, universal job guarantee, basic living wage, national healthcare system, (much more efficient and cheap) national transportation system, etc. etc., NATIONALIZED FINANCE AND BANKING {via a much more highly funded and efficient Post Office]_ *and that reason is economic rent; capitalism according to Marx, was supposed to fulfill its historic destiny by getting rid of the landlord class, getting rid of the monopolists, getting rid of the banks, and making them public in character, and evolving toward socialism."* 9:03

Honestly... I had to look who was doing this interview. Paul Sliker, one of the people that is interviewing Micheal Hudson, sounds exactly like Ben Norton from the GrayZone.

Excellent interview, thank you. I love your intro and ending music. Who is it?? Name of song? Thanks

Jesus Christ this was good

Its such a shame that he couldn’t find a publisher and has to sell his books on Amazon, but I guess this is an example of how we might loose a battle but stay focused on winning the war!

Behind great fortunes hide great crimes. French novelist Honoré de Balzac, 19 th century..

So in order to have a "renovation of the economy", we need incorruptible, accountable tools to moderate and modulate the system, for which AI and Open Contracts are current favourites.., and democratically speaking, every individual needs to understand directly, what, how and why things are as they are. First on the list is human nature and modifying cultural practices. "No one's right if everyone is wrong" but at least it's possible to balance it all if everyone knows why "wrongness" is due to reasonable and rational proportions in/of natural uncertainty. Anything that is a name for something that ends in ism or ist etc does not "collapse" and disappear, only the name is changed to disguise the participants. Humans are human, and "leopards don't change their spots", so "nothing is good or bad, but thinking makes it so", means that thinking for yourself in Principle, will facilitate "recursion to the mean", (human average), which is at least a basis on which to optimise.

if propaganda didn't work, advertising would never exist.

Peace Not War

Wall Street traders don't need to know about economics any more than poker players do.

Productive Capitalism (age of Limited Liability Corporations nevertheless with Owners who held responsibility and felt responsible) to Extractive Capitalism (with deregulated banks and a new class of managers without responsibility and who got rewarded equally for bad and good decisions and immunity from prosecution into the bargain) to ?????? something as yet not imagined, since we have new technologies that potentially favor decentralization and egalitarianism that we as a species lost _ perhaps after all not irrevocably _ after the evolution of the first urban societies in Mesopotamia.

As I see it then we all surely need to be included as renteas in the system.

Wouldnt you say it is a get rich kinda scheme for anyone as long as they pay the monopolys big enough money? At 1:01:00 tho I do see that since it's gotten so big its bound to crater especially with all the money printing happening.

HAAAAA, I always see the model when I google Dr. Hudson.

53:45 oh my god, so the chinese are good guys after all

👍👍👍😃😃😃😃😃👏👏👏

Didn't know the federal banks can make laws to catch banking frauds.

I wonder why you can’t edit the captions a bit to clarify the meaning. For example, saying “Ron TA” instead of rentier makes it more confusing.

I'm not sure if you Folks know this But This Will Not Post to My Facebook.... has your ORG been blocked to facebook?

Michael Hudson is a hero of left wing economics

1:15 | This is a strong charge. It is supported by evidence provided by 'Father of Linguistics', Dr Avram Chomsky.

What has become of humans

Your link above should be www.democracyatwork.info - missing an "a"

Is Doctor Wolff okay? The fact that he is not the one doing the interview makes me nervous.

Good Reporting! Try to get Jacob Appelbaum. There is a community of American journalists exiles living in Berlin. Just Google him

49 monetized debt creditors didn't like the video.

very interesting but what can you say to the leader like government in Eritrea control all the money in their bank and control all the money

Everyone of the voters need to refuse vote for all candidates running in either major party. Vote only for third parties or write in an independent's name.

Boycotting is still the most powerful individual influence there is. Boycotting is really being under-used. Just saying, figure out what to boycott.

Adam Smith warned about rents: i.e., unearned income. (!!!) (How did we fall so far?) (Never mind.)

TRUMPSTER'S ONE PERCENT ONLY WANT ONE THING ! EVERYTHING !!!

Facebook has blocked the image link i.ytimg.com/vi/k6y35aO_fpU/maxresdefault.jpg. So I can't link to this on facebook.

Wow! Such a simple problem, the rich people in America just have to become a lot more generous towards their fellow countrymen. Does that require a whole new paradigm?

Micheal Hudson Donald Trump is crazy

this is ridiculous all our problems would be solved with a simple audit of the Fed.