Hudson/Wolff On Debt and Recession

Michael Hudson and Richard Wolff discuss the theatrics of the debt debate in Washington and why debt does matter

Category:

News & Politics

Tags:

• analysis
• news
• economy

[sanssoleil]

@bbburton

I cannot speak about Hudson, but Wolff is not a Keynesian. He is a Marxist and an unabashed one at that.

In the end Keynesian policies fail much the same way as Neoclassical/Neoliberal ones, because they simply represent another side of the same inherently flawed economic system. Rather than establishing an alternative to capitalism, they produce stopgaps.

The wars abroad will never end, so long as capitalism exists and necessitates imperialism. Obey a dead letter all you want.

[AJsOwner]

Excellent guests; excellent interview.

[WilhelmDrake]

@2leet2cheet

As Aristotle said, " Money is created not by nature but by law"

[2leet2cheet]

@WilhelmDrake Whos says having "money power" in the hands of anyone is necessary?

HOWEVER politicians SHOULD NEVER be in control of the money supply.

[WilhelmDrake]

@2leet2cheet

The choice is to either leave the "money power" with private unaccountable tyrrannies or with democratically elected and accountable officials.

[2leet2cheet]

Do Keynesian theorists really believe the politicians should have control of the expansion/contraction of the money supply?

Politicians live in a strange parallel universe were things they do in the short term do not have consequences in the long term. This is not the same universe the rest of us have to live in. Keynesians need to find a solution to the political problem or throw Keynesian economics out the window CAUSE IT DOES NOT WORK IN ITS CURRENT FORM.

[sugarface88]

the picture quality of this video was excellent.

[bbburton]

TRNN hosting more crackpot economists who continue to support Keynesian theory of economics. Stop the madness, stop the spending. End the wars abroad and at home. End the welfare state and the warfare state. End corporatism and return to sound money. And most of all - obey the Constitution. TRNN is shilling for the socialists. Paul Jay go back to Canada.

[rctube1958]

Brilliant observations. Especially the part about this being a new stage not foreseen by theorists of old. Except maybe for Jefferson's comment about what would happen if banks were to gain control.

End the Fed.

[Starwheel6]

Currency cycles run in course with cycles of empire. USA is in the waning cycle because vested interests refuse to adapt to necessary changes. Loss of confidence in the economic policy coupled with overprinting of money tripled with the virtual money on cyber- Wall St leads to an upward cycle in holding physical assets (yes gold and silver until clarity can create a new system that is sustainable. Dishonest bankers destroyed the dollars credibility. It's a no brainer. Buy silver!