Michael Hudson

EU: Politics Financialized, Economies Privatized

EU: Politics Financialized, Economies Privatized

“Saving the euro” is a euphemism for governments saving the financial class – and with it a debt dynamic that is nearing its end regardless of what they do.

 Michael Hudson

Unión Europea: política financiada, economía privatizada

Unión Europea: política financiada, economía privatizada

“Salvar el euro” es un eufemismo para que los gobiernos salven a la clase financiera.

 Michael Hudson

How financial oligarchy replaces democracy

How financial oligarchy replaces democracy

The Greeks gathering in Syntagma Square seem to need no culture shock to reject their Socialist government’s cave-in to European bankers. It looks like they may follow Iceland in leading the ideological pendulum back toward a classical awareness that in practice, this rhetoric turns out to be a junk economics favorable to banks and global creditors.