Government Debt and Deficits Are Not the Problem. Private Debt Is.
The antidote should be more government spending and larger deficits – as well as debt forgiveness.
Congress Avoids the Cliff by Selling Us Down the River
We are now – and will remain – a debt-fueled economy for as long as the rest of the world permits this to continue.
Choking on Debt
Everywhere you look, countries have too much debt and are struggling with it.
Mistrust Fuels Continued Gold Demand
The current high prices of precious metals, in the face of possibly deep economic recession, indicate that the prospect of a sudden and catastrophic financial collapse is very real.
Income and wealth taxes in the euro area: An initial overview
Higher taxes for those on higher incomes and the wealthy to finance the costs of the crisis and cut budget deficits are being debated in the euro area – including Germany. Several countries have already taken action. If countries decide in favour of the state imposing such taxes, they face a difficult balancing act. Beside the fiscal and distributional targets and hopes, it has to be borne in mind that attention is to be paid to the risks to economic growth, which may result from negative incentive effects, and balance them against the former.
Michael Hudson’s New Book, The Bubble and Beyond
Essays on Fictitious Capital, Debt Deflation and the Global Crisis.
Financial Predators v. Labor, Industry and Democracy
Europe’s sovereign debt crisis in historical perspective.
Draghi and Bernanke know that markets need to be talked up, and they continue to do so unapologetically.
Economic Reality Bites
Once it becomes obvious just how many dollars the Fed is prepared to print to stave off recession, people running into treasuries today will likely suffer buyer’s remorse.
When did Austerity Become a 4 Letter Word?
Some forms of “austerity” have minimal near term impact yet are crucial for the long run.
Debt: The Politics and Economics of Restructuring
Michael Hudson’s presentation for the session “The Challenge of Deleveraging and Overhangs of Debt II: The Politics and Economics of Restructuring” at the Institute for New Economic Thinking’s (INET) Paradigm Lost Conference in Berlin.
Debts that can’t be paid, won’t be
A common denominator runs throughout recorded history: a rising proportion of debts cannot be paid.