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Economist Michael Hudson: the bailout is a giveaway that will cause hyperinflation and dollar collapse

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[donotfret]

"truth is treason in the Empire of lies" Ron Paul

[yawnballsscratch]

Michael Hudson is one of the few believers in truth in the field of economics.

[SECRETSPACETHEATRE]

Great video. Thanks For Sharing...Jason.

[Steenville]

The debts haven´t been let go- we are headed for new catastrophes.

[flatpick4eadg]

The right hand of the machine is the Fed creating fiat money out of thin air with the stroke of a pen, and loaning it to the government, where we have to pay it back plus interest, the left hand is the IRS sucking all those dollars out of the system to make room for more to be loaned in at interest.

[donotfret]

This guy is awesome

[pepsimannampepsi]

PETER SCHIFF, Please support.

Youtube channel: schiffreport

[dilbertgeg]

I AGREE. We're screwed. Trillions were stolen shifted via debt creation. Some evaporated.

Credit was disguising de-industrialization and shutting down production, for a quick buck, credit -based M and As, garage sales, gambling.

Hudson agrees we DO need liquidation, ie debt write-down, not propping up debt by transferring it to the govt.

The other side is real production and consumption. I think some capital injection is needed so engine does not grind to a halt like IMF in Argentina.

[corymd3470]

But where is such money coming from? It would just cause inflation or steal money from more productive people/assets. We need liquidation to occur or the economy will never recover.

Basic capital theory does not reveal that the cure is more spending which degrades capital goods. The money that goes towards interest is loaned out again.

We do need productive industry but no transformation will occur if we continue to prop up the phony spending economy.

[dilbertgeg]

Cory,

I think, if consumers got more money than there might not be more real investment, they would have to pay off homes and past credit. Clean slate.

This could then boost spending and work, not savings per se, less money going to interest.

Hudson differentiates between investment in actual productive capital, like equipment and business processes where people work and produce things, vs. capital that consists of debt-based derivatives, betting on capital flows. and stuff like that.