Yves here. We trust you’ll enjoy this wide-ranging but compact interview with Michael Hudson on Lebanon’s Almayadeen TV. The topics include Europe’s de-industrialization, the Fed fighting the wrong war and hurting innocent bystanders, the rise of new power blocs, and debt....Naked Capitalism
Michael Hudson Answers Questions on Europe’s Self-Immolation, Fed’s Malpractice, Changing World Order
Questions from Almayadeen TV, Lebanon by Mohammad Itmaizeh
MH: Blaming today’s price inflation on workers earning too much is simply an excuse to impose a new class war against labor.
ReplyDeleteMichael Hudson straw manning again. The Fed is clear that it is trying to prevent a wage-price spiral from happening, not that it is the cause of "inflation".
“We can’t allow a wage price spiral to happen, and we can’t allow inflation expectations to become unanchored,” Powell said.