Review of Michael Hudson's latest book, The Collapse of Antiquity: Greece and Rome as Civilization’s Oligarchic Turning Point — and its contemporary implications. Embellished with personal interaction with Michael Hudson.
Michael Hudson is becoming the go-to economist for reformers.
Also of note is the venue. Michael Hudson has been an influencer in China for years. Is Russia next?
Unfortunately, most of the people reading Hudson don't seem to be aware of the difference between public and private debt, or of the difference in monetary systems, at least those I have encountered.
Sputnik International (Russian state-sponsored media)
9 comments:
Apocalypse!
😂😂😂😂
The shreking will only get worse as public debt levels keep going up with high deficit levels due to spending and fed raising interest rates. Remember how we were all going to become Greece 10 years ago? Now we will all become Argentina.
The funny thing is the rest of the globe also doesn't seem to understand the whole currency insight of MMT. BRICS trying to start their own trading block and currency. You would think that after the Americans basically voided the Russian USD balance and then nothing happened, the world leaders would take notice and realize that hoarding a whole bunch of foreign reserves is basically useless if you have a floating currency. You just gave a whole bunch of your products and man power for digits on someone else's spreadsheet.
Not unless the USD wealthy Russians whack Putin…
Second summer coming up where no Russians going to be on holiday in the Med…
No bueno…
Their choices will be going to Wang Dang in China to sample the dog brain soup and air pollution… or perhaps the Black Sea with rock pile beaches with 52 degree water…
2 years in a row…
“ The shreking will only get worse as public debt levels keep going up”
The deficit may drop (substantially) with no tax cut on the horizon until at least a possible trump admin in 2025…
Brandon might balance the budget..
ie Dementia patient will be heralded as a genius…
Mke tracks the fiscal flows in his service and we are in surplus for the recent latest period around tax day April 15th…
Probably will revert to deficit eventually but maybe a small deficit…
Have to see how this goes…
No tax cut deal even being considered in current debt ceiling negotiations…
Without a tax cut with all the interest income and bank capital being added we may go near a fiscal balance..,
Hmm I guess the student loan forbearance ending in July is going to worsen what you are describing.
Will increase TGA deposits once the loan repayments resume.., will reduce fiscal deficit cet par….
Post a Comment