Has the Link been Broken?
Interview for the Centre for Research on Globalization about the Icelandic recovery plan.
To secure its privileges and tax favoritism, the financial sector opposes government power to tax or regulate. Fighting under the banner of “free markets,” it is now fighting to centralize economic planning power in Wall Street, the City of London and other financial centers.
Michael Hudson discusses how democracy has been subverted.
The cost of the 2011 cutbacks in federal spending will fall most directly on consumers and retirees by scaling back Social Security, Medicare, Medicaid and social spending programs. The population also will suffer indirectly, by lower federal revenue sharing with U.S. states and cities.
The wealth of any nation is its population. It is wasteful to reduce families to poverty…
Los bancos asumieron un riesgo. Ahora quieren llevarse el dinero y que los contribuyentes paguen. Esto es moralmente repugnante.
Can Russia «afford» the costs of raising much of its population out of poverty? Can she afford not to?
The Wall Street bailout melodrama should be viewed as a dress rehearsal for today’s debt-ceiling non-crisis.
La alternativa a la mala gestión de las empresas públicas no es necesariamente la privatización, sino una mejor administración y mayores controles para evitar la incompetencia y las malas prácticas.
One must conclude that the EU’s new central planners are acting as class warriors by demanding that all losses are to be suffered by economies imposing debt deflation and permitting creditors to grab assets… If Greece does not draw a line here, it will be a victory for financial and fiscal aggression imposing debt peonage.
Financial strategists do not intend to let today’s debt crisis go to waste. The basic model follows the former Soviet Union’s post-1991 neoliberal reforms: privatization of public enterprises, a high flat tax on labor but only nominal taxes on real estate and finance, and deregulation of the economy’s prices, working conditions and credit terms.