Not brilliant. He’s cherry picking ancient transactions to support his love of communism and upholding communist China as the most successful economy in the world while forgetting how destructive communism was over the past 100 years world-wide.
As a young Catholic boy in the '50's, I was taught the original version of the Lord's Prayer that read, "And forgive us our debts, as we forgive our debtors." I never understood the import of the difference until now. Thank you.
Catholicism got captured by capitalism during the Victorian era on wards which is why it was in bed with the Nazi's and why it said nothing about myriad US coups and invasions and why the language actually in the bible that is so blindingly anti capitalist it is hilarious despite capitalism not being around until 1500yrs later, is seldom ever read out loud in classes today never mind taught in proper historical economic context and for fairly obvious reasons. Jesus was practically the worlds first socialist and capitalism is not compatible in any way shape nor form, with the teachings of Christianity meaning the majority of westerners who consider themselves some form of Christian while also thinking capitalism is ok, are actually heretics to their faith. Moses warned about worshipping the golden calf, I believe there is one bolted to the floor of wall street right now. Still, despite the failures of the church, there are at times the odd pope that recognises such and tries to make some small difference: "There is blood in these lands, and they are bleeding. The corporations have cut the veins of our mother earth." - Pope Francis, 2019.
I had the honor to attend his lecture, speak with him and purchase his book, with a mutual friend at NYC's The People's Forum on the release of his latest book, "...and forgive them their debts: Lending, Foreclosure and Redemption From Bronze Age Finance to the Jubilee Year (Tyranny of Debt)". The man is beyond brilliant and his CV reflects it.
@@micro-organism-pv5gd China has detonated their housing bubble and its associated risks. I'm very curious to see how that turns out so that those living in neo-liberal economies who demand for positive change can point to it as a proof-of-concept. But yes the US - as the epicentre - is probably f'd.
The person can speak in five languages or understand it You don't get a label of dyslexia because they don't conform to your sentencing structure The old languages don't even use subject objective verb Sounds like a financial perversion to me a dumbing down for commerce
41:00 You mean the prayer actually is "Forgive our debts as we forgive our debt against others" and they changed it trespass only to make light of the significance of forgiving someone's debt. I'm a Muslim and it makes me sick that someone could play with religious text like that. And Karl Marx Vol 3 is the only place where you can find the Martin Luther King sermon on forgiving debt. Mr Hudson is a man of God opening the eyes of many to the sickness of usury.
Usury works for those who have a lot to use. The Concept of Capital is only around 6,000 years old but Humans did exist for thousands of years without the concept. Forgive me if I play with words...... The US Currency is now a Fiat Currency that counts on sales of Treasury Notes, to insure some value to the Federal Reserve Notes printed. As the Moslem Nations react to The ruthless expansion of the Israel State, the buyers for the US Treasury Notes that support the Federal Reserve Currency decrease. The apparent effects of Usury to overcome the debts created by Compound Interest, seem to have been among the thoughts of early Moslem thinking? Now the effects of Capitalist use of Usury to embellish profits through creating debt, indicates the understanding of ancient Moslem Dudes was correct. The US Creation of debt that now stands to erode the Citizens ability to afford a home, is exceeding the limitations of Business to provide Pay to the average Citizens of the USA, to actually live indoors. The Food issue is another feature that grows beyond Human access. I agree that Moslem Thinkers did have the understanding of Human behavior clearly defined. The issue is not simply the Roman Anglo creation of Adam Smith Theology, but the concept of Capital as a measure of Value, now faces the test of Human acceptance. The issue is beyond Theological discussion , it appears to be now a question of Human survival.
6000 years is demonic deception - no such expanse of time has ever existed - not in old texts, not in old megaliths, not in archaeology, not in geology, not in volcanology or glaciology - not in chemistry - not in astronomy - not in astrophysics - no where - ever.
@@danielhutchinson6604dust of rehba is upon you They were the last nation to keep their usury laws on the books right out front to boot now you know why the middle East is a war zone
His thinking is not healthy. He’s cherry picking ancient transactions to support his love of communism and upholding communist China as the most successful economy in the world (it’s currently imploding) while forgetting how destructive communism was over the past 100 years world-wide. He thinks communist ➡️central control of the economy is ideal, …yet calls having a “king” /president or ➡️central authority as right-wing and facist. Lololol. And THEN he stated libertarianism is “right wing” and therefore facist. (Libertarianism is market driven without a central authority). 🙄
Thank you, Robinson, for having Professor Michael Hudson again. He speaks with great intelligence about why our economy is coming apart. "The Art of War" & other Eastern Classics of Eastern Classics of Eastern Philosophy. Professor Michael Hudson definitely understands philosophy and religious divisions throughout the centuries with economics. What a gift he is!!! He is 💯 correct on each dissection of banking, wars, countries and who is running the show. Remember what happened to Hypatheis? She was the first woman astronomer and a mathematician, inventer, and she was pagan. The Christains tore her flesh off of her. One more question if I may. Why are the Zionist Jews meeting in their synagogues today and buying real estate in Gaza? Zionism is an Ideology. It does not mean one is antisemitic. Apec controls both sides of our American politics. Facism and racism are words of ignorance. The dull minds of President Ronald Reagon Reagon and Prime Minister Margaret Thatcher, austerity and privatization again and Milton Friedman's trickle down economics. The money went to the top elites, it never trickled down. Thank you both. I sent you $20.00! I had to give a little for this discussion.
Came for Michael Hudson, saw the chilling cat, gave you a like, then saw the dog show up and decided to subscribe :) You've managed to make me do in 90s flat what most others can't in 5 videos! Keep it up!
Love Michael Hudson and listen to a lot and admire his work .One thing he doesn't talk about much is the fact that they still do write off debts when it suits the ruling class. Particularly whenever a giant company goes bankrupt and leave massive debts they write off or write down the debts to it's creditors.
Public/Private Partnerships are effectively subsidizing Corporate profits rather than allowing for the bankruptcy of 80% of the S&P500, which are only viable through debt restructuring/refinancing. This evolved over the past 50 years of Neoliberal Austerity as the Public funding of Privatized wealth hoarding. The Oligarchy understands that financialized debt-slavery has caused the collapse of Western Civilization, yet they have no idea how to mitigate the devastation and probable species extinction, so they’ve gone ‘full-nihilist’ and proselytize the virtues of techno-feudalism and the Cult of technocracy as a means of Salvation, which is the foundation for Mass Formation Psychosis. The result will be a deepening of our Anti-Social Civil, Economic and Social Orders towards Universal Psychopathy and the destruction of the Ecology for other evolving species that might not have caused their own extinction had humans not destroyed the Planet. Blind-spot indeed.
It is funny that Michal brought up the original meaning in the Lord's Prayer. I was watching the movie - Jesus of Nazareth from the 1970's, and they used the words " forgive us our debts as we forgive ". My thought at the time was they must have had serious historians consulted for the movie.
Its not just FIRE it is double Fire because the people who 'work' in Finance Insurance and Real Estate (FIRE) who have and promote Financial Independence and Retire Early. (FIRE) Of course on the backs of people who produce goods and services in the real economy.
@@dennisgrant538Ha. No they are not. Not even close. They're liberal and liberalism is a facade the right wing puts on when they want to ward off the wrath of the masses.
@dennisgrant538 Depends what you mean by left. If you mean identity politics nonsense, then sure, but in the material sense they are staunchly right wing. They exist to preserve all the problems Hudson is talking about. There's a degenerate left and a degenerate right, but they're two sides of the same coin.
Michael Hudson has filled in so gaps in my knowledge, especially relating to economics. A genius, every bit as important as Noam Chomsky or Chris Hedges.
In minute 56, he explains it is the entirety of Finance, Insurance, and Real Estate are making money in their sleep and not a part of the productive economy
Earned vs unearned income They are purely extractive cost over an above profit Arguments of what are cost of doing business vs overhead Is price an value The basic principle of political economy Pareto optimums Is how much how big if it's a medicated alabaster You would like the banksters to poke your hiney with after he she Tells ya your shoes undtied
The reference to debt cancellation still exists in the greek orthodox version of the prayer btw. I hadn't realized it until I watched this video that it refered to debt and debtors.
@@kvaka009 well if u view this thru the lens of history, biden is to palestinians hitler. He is the gr8er evil. I dont know how those who vote 4 biden can sleep at nite knowing that because of this administration we are directly implicated in genocide.
@@kvaka009 oh so in ur mind h^tler is worse than trump? I hate trump but this guy is a ok wit the murkin innocents and whoever is left leavin em to die off from disease, thirst or starvation. In a sane persons mind thats worse. If u cant see that theres a word for peeps like u starts with an n and ends with a z i.
Greetings Respected Gentlemen . Debt cancellation is very much part of Indian Agricultural economy . Some Arab principalities also cancel non agricultural debts of its citizens during festivals. Agriculture is still the riskiest business due to a host of problems causing crop loss. This is totally different from deliberately indebting nations beyond their paying capacity leading to enslavement. Money chaging tricks played upon ignorant hapless populations and gamble away the future of nations. This is not Economics but theft and the Federal Reserve is the Fountain head of this criminal enterprise.
I heard about an Indian religious holiday, something about the books, meaning the old book is closed, debts are written off, and a new book is openened. Is this just a symbolic remnant from antiquity, or is it a real practice today? If it is the latter, it would be marvelous, but I doubt it. Genuine question.
@@hajijalaldarvish7350it's a ridiculous IP fight Sensors trackers finders and feelers need to be removed from farming equipment John Deere and Harley-Davidson should not be opting for a subscription model and then shilling that they're American made The whole planet shouldn't use monsanto's seeds from Sweden
Its not just FIRE it is double Fire because the people who 'work' in Finance Insurance and Real Estate who have and promote Financial Independence and Retire Early. Of course on the backs of people who produce goods and services in the real economy.
As an electrical engineering with Management experiene I am fully aware of the power of using System theory or Cybernetix to create solutions in complex dynamic Environment. That is why I fully understand Dr. Shivas approach on geopolitics. Thank you Ivor that you have brought up his voice on your Show and yes you should thinks his arguments through and incorporate your findings in your key notes. I try to explain also the benefits of Libertarian thinking with the knowlededge of system theory, which is very easyJet. One should know that the system theory was developed in Princeton University in the 1940s and F. Hayek included the findings in his liberterian model of free markets. This is definitiv the only way to overcome Our problems😅
In other words, no regulation for the wealthy and their corporations and heavy regulation for everyone else, even in our bedroom and even for use of our own bodies! Debt is good for the lender and for the wealthy who already can afford to borrow with interest, but it's bad for everyone else who have no control of the economy, wages or the rate of interest charged. Oligarchy is benign for oligarchs who can purchase politicians who will protect their wealth. It's pernicious for everyone else who cannot regulate oligarchs or politicians without risking life and security. Debt is killing us because we can't earn enough to keep up with the cost of living. Let's do something about all of this. Get off the sofa, put your social media away. Turnn off the television. Join a political organization that represents you and pressure the politicians from within and without to regulate the system, to represent us, not the wealthy. Then fight for a better system but never forget democracy as you work for a better way to live. There is a better system but it requires vigilence to maintain!
40:06 never heard this about western civilization that. 😢and i am over 40 years. They never teach about economic history. 😢😢😢😢😢😢😢 So now i getvwhat they mean by those who write history control history. 😢😢😢
This was deliberate they even did the same thing to computer science Economics was just the most gratuitous example Shifting it from political economy to the modern propaganda
You would have had to take high level math what year of geology like 10 other things to get that degree Now unless you deliberately choose hardware all you're going to do is focus on how to make apps Just use java
The Government now has 2X the Consumer Debt. US Treasury Debt is at $34.4 and growing fast. Consumer Debt is above $17 trillion and now appears to be straining Banks limitations.... The Government needs any form of income they can produce, taxation is among the tools to relieve the Debts. The Folks who benefit from reduced taxation, appear to have the funds to purchase a few Leadership positions, for their good and faithful Servants. The ability to forgive Student Debt seems to be something they avoid discussing. The Capital Gains Tax increases seems equally Verbotten. Property Tax seems to have been limited so their extra Homes of Oligarchs, do not become more of a Burden. The suggestion of a sales tax on Stock Exchange transactions seemed to be shot down quickly. We do need to face the fact that an Oligarchy is in charge of the US Government, and is in position to control Policy decisions in the same fashion as the Monarchy, that the USA Founding Documents indicate are harmful to human development, and now are the establish form of government the US has in place.......
This channel needs a huge following. HES TELLING US WHAT IS REALLY HAPPENING! I am going to send to some ppl bec this is a must watch channel for ALL adults and students Dr. Hudson gets it and the profound nature of economics. I never could see why libertarians existed. His explanation here is a truly revolutionary conclusion and should be taught to EVERY STUDENT
Wow, this was a real astounding interview. Thank you for sharing it! Will have to obtain some of Michael's books. Jee, what kind of an encyclopidian brain that guy has got and how he can really bridge the historical facts with the economic issues of today is really amazing!
The fact that the rhythms of agriculture shapes our economy should not be as novel as it is presented. It's because so many are so divorced from farming and where our food and fiber comes from. Anyone who pays attention to agriculture knows intrinsically about this debt cycle.
Wow, the basic ancient history of economics puts the modern BS into so much perspective so easily that it's no wonder the people who make all the money don't want it to be taught. Great interview, basically everyone should listen to it.
There are some problems in modern societies with debt cancellation. Let's talk about the other side of the equation. Most of the debt is private debt therefore canceling debts will wipe out crucially important economic entities, the banks and their depositors because banks invest their depositors' money. So all debt needs to be nationalized first. This is pretty much what happened in 2008 by the way, the financial system was bailed out. Did it work? Since than we had zero interest rates, quantitative easing, asset prices skyrocketing and finally consumer price inflation going through the roof and in the next step we are going to have a sovereign debt and currency crisis.
@@manchesterunited9576let me try to make his argument for him. What they don't tell the public and the reason why they can't cancel student debt. They took the original debts an Re Hypothecated them sold them to forth filth an sixth parties. God knows who's balance sheet they are on now on top of likely not even being solely domestic any more Christopher Riccardi CDO's are truly like the nuclear reactors of finance
Michael Hudson's knowledge of history and the reality of our economy's organization and operation is invaluable to the citizenry's perspective on our Main St. economy now. How does the Fed/Wall St. unlimited bailout system undermine the necessary cancellation of debt? Is it true that the Dems cancellation of the Student Debt is actually going to bailout the Crditors?
history is one thing but hudson also gave you a hint. read marx. what ppl seem to dont understand is that marx put the whole math down showing that capitalism is just a economic system for certain circumstances and has huge problems.
The observation of the Investors like the Rockefeller Bros in Electoral Industry affairs created a point of conflict in the ability to provide representative government that actually represented the average American Citizen in 1968. My observations since that period appear to have indicated an increase in the ability of Money to purchase the service of Political Prostitutes, has multiplied around 100 times. How do the average Citizen get representative government that serves their needs? The increase in the Electoral Industry offering good return on investment, seems to be one of the growing costs that US Citizens now are forced to deal with? How can the average American get representative government? Handing the debt to the Consumers to insure the GDP remains positive, was the work of Bernanke and Paulson in 2008. Now the Consumer Debt has risen by $5 trillion since then. The trend is to create more debt to support the concept of prosperity...... The indefinite continuation of the policy faces the challenges that all Colonial Empires faced. The US Economy has run into a BRICS Wall that ended the ability to enable Colonial Exploitation, to serve the needs of a lifestyle built on exploitation. Vietnam was a classic demonstration of colonial exploitation that failed. Iran was the second major indicator that US Colonial exploitation that began in 1776, and was magnified in 1898 with the purchase of the Spanish Empire. The USA became the wealthy Nation due to exploiting others. Since the BRICS Trade Group organized the Trade Union, from former US Colonies, inflation has gone up. The US is exploiting European Consumers to maintain a positive GDP. That Policy does not seem to demonstrate good long term prospects. Who will remain solvent as the US Treasury goes Tits Up? Who is left to forgive the debts?
@@danielhutchinson6604 BRICS may not be the power we are all supposed to be afraid of. Our leadership is destroying America and the EU just fine as it is. Just as the political system is screaming at New Yorkers to 'GET OUT NOW'. As the aftermath of the 1/6 event communicates, a political intervention, not an 'Insurrection', the Washington DC Establishment, represented at the Capitol, are making political power exercised by the People impossible, making seeking redress from political representation illegal. It's the Establishment screaming get out of the USA now!. 'We the People' and our existential system, the economy, are being looted as if we were Argintina, and the rest of the 2nd and 3rd world, etc. Every town, city, county, and state in the US are every bit looted as if each of the 50 states were a colony, via the Wall St. central, command, control, bond market and other devices, as if the Dodd- Frank Act, which no one can explain, were never written. Labor has been destroyed to make way for Slave Labor, small businesses are destroyed by a PsyOp. Real Estate is being destroyed, organized under the dicktats of a corporatist takeover. It's not a series of inexplicable hostile acts, it's organized War on the people in our US Constitutional Republic.The case for the reorganization of this Fed/Wall St. unlimited bailout system is obvious, they owe us money, yet it's not proposed to the public. The Redevelopment of North America, the national security, the people's survival, orders the reorganization of the US Banking and Finance system.
@@danielhutchinson6604BRICS is not a new system. Those in charge of it have no intention to forgive debt. They are out for themselves and will be just as predatory as the existing system.
18:52 can you synthetically make "the palace" the creditor to all debts if, for example, "the palace" maintains a "central bank" (yes, able to transact in the "free market") that will (during a jubilee) effect extraordinary measures (eg, becoming the "lender of last resort", brokering "private" recapitalization deals, etc)? Isn't it a similar effect to occasionally step in ("extraordinary measures") for the psychological purpose of getting creditors and debtors to behave as if "the palace" is in fact the ultimate creditor? (In a system of forced taxation and deficit spending, "the palace" basically socialises the bad debt writedowns across creditors and the economy at large)
My friend, you have such a beautiful space with cute funny pets. I highly suggest a Balkan painter by the name of Gent Proko. Incredible works. I'm sure you'd enjoy. Excellent interview you have here! This makes macro economics common sense theory. Thank you both!
I've often wondered how the amortization schedule for a home mortgage came to be. It's the most insidious form of wealth extraction relating to debt, whereby the mortgagee makes almost no headway on paying down the principal unless one makes payments for well into the life of the loan. I'd be interested to know if Professor Hudson knows the answer to this question.
Hudson mentions Capital Vol.3 in passing at 47:00 but he avoids the issue. Hudson’s program of debt cancellation by a reformist leadership is possible without a revolution. Notice the Hudson never mentions the working class. If there is a “class struggle” it is between the “rentier/financier class” and “productive capitalist class”. I have seen a few interviews with Hudson and he name drops Marx like all academic Marxists do. The interesting details gives are ultimately useless because he is not clear on his position of capitalism. His assertion at 34:36 that debt cancellation “is socialism” shows he is not a Marxist.
![Felix "Unfair" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/Oswujxm2Ag0/mqdefault.jpg)
Michael Hudson talks like someone who knows so much that his mouth can't keep up with his brain. Stunningly brilliant man.
Michael have 4 books check
Not brilliant. He’s cherry picking ancient transactions to support his love of communism and upholding communist China as the most successful economy in the world while forgetting how destructive communism was over the past 100 years world-wide.
He’s getting older and us old folks have trouble aphasia and finding the word we need
But lacks DISCERNMENT on some important subjects
@@friarnewborg9213 Like What??????????
As a young Catholic boy in the '50's, I was taught the original version of the Lord's Prayer that read, "And forgive us our debts, as we forgive our debtors." I never understood the import of the difference until now. Thank you.
David Graeber talked about that also. Prayer in the Swedish protestan church also says "forgive us our debts". It's a incredibly powerful realization.
Tye significance and importance to those who were taught the latter version is profound!
Also says if someone asks you for your shirt , give him that and your jacket. If someone asks you to walk a mile with them , walk two.
Catholicism got captured by capitalism during the Victorian era on wards which is why it was in bed with the Nazi's and why it said nothing about myriad US coups and invasions and why the language actually in the bible that is so blindingly anti capitalist it is hilarious despite capitalism not being around until 1500yrs later, is seldom ever read out loud in classes today never mind taught in proper historical economic context and for fairly obvious reasons. Jesus was practically the worlds first socialist and capitalism is not compatible in any way shape nor form, with the teachings of Christianity meaning the majority of westerners who consider themselves some form of Christian while also thinking capitalism is ok, are actually heretics to their faith. Moses warned about worshipping the golden calf, I believe there is one bolted to the floor of wall street right now.
Still, despite the failures of the church, there are at times the odd pope that recognises such and tries to make some small difference:
"There is blood in these lands, and they are bleeding.
The corporations have cut the veins of our mother earth."
- Pope Francis, 2019.
I just purchased all three volumes of Karl Marx’s “Capital” and look forward to an amazing read.
Michael Hudson is the most important expert on geo-economic fundamentals in the world
I Really like Michael Hudson,but this was brutal,and depressing.
Please,is there any hope?
@@lisacollins3304 Understanding how capitalism works and acting to overcome it.
Alongside Radhika Desai!
@@lisacollins3304no there is not
@@lisacollins3304 hope is called anti hegemony led by China. Boo!
I had the honor to attend his lecture, speak with him and purchase his book, with a mutual friend at NYC's The People's Forum on the release of his latest book, "...and forgive them their debts: Lending, Foreclosure and Redemption From Bronze Age Finance to the Jubilee Year (Tyranny of Debt)". The man is beyond brilliant and his CV reflects it.
when does he go back to the people’s forum?
Michael Hudson is one of the greatest minds out there. Thank you for sharing your knowledge and wisdom!
He should be running the country.
Michael Hudson at his best getting right into the causes of the debt phenomona right from the beginning.
They got a perverted mystery school for you instead
Fed private pricks.😮
Love Michael Hudson!
love having you around ludvig!
We are cancelling the debt of the rich everyday, we just don't allow for debt cancellation for the poor.
@@micro-organism-pv5gd China has detonated their housing bubble and its associated risks. I'm very curious to see how that turns out so that those living in neo-liberal economies who demand for positive change can point to it as a proof-of-concept. But yes the US - as the epicentre - is probably f'd.
Your sentence structure needs improvement. I'm trying to be kind
@@stickitupyourasteric
Fuck no grammar and syntax is irrelevant
Well edited pieces and smooth speakers are the surest sign of grifting
The person can speak in five languages or understand it
You don't get a label of dyslexia because they don't conform to your sentencing structure
The old languages don't even use subject objective verb
Sounds like a financial perversion to me a dumbing down for commerce
master class god bless michael hudson
Beautiful analysis, Mr. Hudson. And thanks for hosting him, Mr. Erhardt!
I appreciate the Mr before both names.
@@omarei Pure respect.
41:00 You mean the prayer actually is "Forgive our debts as we forgive our debt against others" and they changed it trespass only to make light of the significance of forgiving someone's debt.
I'm a Muslim and it makes me sick that someone could play with religious text like that.
And Karl Marx Vol 3 is the only place where you can find the Martin Luther King sermon on forgiving debt.
Mr Hudson is a man of God opening the eyes of many to the sickness of usury.
I think you mean Martin Luther 😉
Usury works for those who have a lot to use.
The Concept of Capital is only around 6,000 years old but Humans did exist for thousands of years without the concept.
Forgive me if I play with words......
The US Currency is now a Fiat Currency that counts on sales of Treasury Notes,
to insure some value to the Federal Reserve Notes printed.
As the Moslem Nations react to The ruthless expansion of the Israel State,
the buyers for the US Treasury Notes that support the Federal Reserve Currency decrease.
The apparent effects of Usury to overcome the debts created by Compound Interest,
seem to have been among the thoughts of early Moslem thinking?
Now the effects of Capitalist use of Usury to embellish profits through creating debt,
indicates the understanding of ancient Moslem Dudes was correct.
The US Creation of debt that now stands to erode the Citizens ability to afford a home,
is exceeding the limitations of Business to provide Pay to the average Citizens of the USA,
to actually live indoors.
The Food issue is another feature that grows beyond Human access.
I agree that Moslem Thinkers did have the understanding of Human behavior clearly defined.
The issue is not simply the Roman Anglo creation of Adam Smith Theology,
but the concept of Capital as a measure of Value,
now faces the test of Human acceptance.
The issue is beyond Theological discussion ,
it appears to be now a question of Human survival.
6000 years is demonic deception - no such expanse of time has ever existed - not in old texts, not in old megaliths, not in archaeology, not in geology, not in volcanology or glaciology - not in chemistry - not in astronomy - not in astrophysics - no where - ever.
All religions all of them are pretty much debate of morality of predator versus debtor without exception
Lol creditor
@@danielhutchinson6604dust of rehba is upon you
They were the last nation to keep their usury laws on the books right out front to boot
now you know why the middle East is a war zone
Wow! I’m blown away by his abundance of knowledge.
yes he knows a lot!! I have learned a lot from him
His thinking is not healthy. He’s cherry picking ancient transactions to support his love of communism and upholding communist China as the most successful economy in the world (it’s currently imploding) while forgetting how destructive communism was over the past 100 years world-wide.
He thinks communist ➡️central control of the economy is ideal,
…yet calls having a “king” /president or ➡️central authority as right-wing and facist. Lololol.
And THEN he stated libertarianism is “right wing” and therefore facist. (Libertarianism is market driven without a central authority). 🙄
@@NotAnnaJonesChina is not imploding...what right wing (or whatever nonsense) have you been watching 😇
@@NotAnnaJones "He thinks communist ➡central control of the economy is ideal" GOOD! WE AGREE!
@@NotAnnaJones "his love of communism" GIVE THAT MAN A MEDAL!!
Thank you, Robinson, for having Professor Michael Hudson again.
He speaks with great intelligence about why our economy is coming apart.
"The Art of War" & other Eastern Classics of Eastern Classics of Eastern Philosophy. Professor Michael Hudson definitely understands philosophy and religious divisions throughout the centuries with economics. What a gift he is!!! He is 💯 correct on each dissection of banking, wars, countries and who is running the show.
Remember what happened to Hypatheis? She was the first woman astronomer and a mathematician, inventer, and she was pagan. The Christains tore her flesh off of her.
One more question if I may.
Why are the Zionist Jews meeting in their synagogues today and buying real estate in Gaza? Zionism is an Ideology. It does not mean one is antisemitic. Apec controls both sides of our American politics. Facism and racism are words of ignorance.
The dull minds of President Ronald Reagon Reagon and Prime Minister Margaret Thatcher, austerity and privatization again and Milton Friedman's trickle down economics. The money went to the top elites, it never trickled down.
Thank you both.
I sent you $20.00!
I had to give a little for this discussion.
Came for Michael Hudson, saw the chilling cat, gave you a like, then saw the dog show up and decided to subscribe :) You've managed to make me do in 90s flat what most others can't in 5 videos! Keep it up!
41:00
My God I can keep on listening to Mr Hudson for hours and hours.
Love Michael Hudson and listen to a lot and admire his work .One thing he doesn't talk about much is the fact that they still do write off debts when it suits the ruling class. Particularly whenever a giant company goes bankrupt and leave massive debts they write off or write down the debts to it's creditors.
Socialising the debts and privatising the profits for the elites. Plutocracy
Public/Private Partnerships are effectively subsidizing Corporate profits rather than allowing for the bankruptcy of 80% of the S&P500, which are only viable through debt restructuring/refinancing. This evolved over the past 50 years of Neoliberal Austerity as the Public funding of Privatized wealth hoarding.
The Oligarchy understands that financialized debt-slavery has caused the collapse of Western Civilization, yet they have no idea how to mitigate the devastation and probable species extinction, so they’ve gone ‘full-nihilist’ and proselytize the virtues of techno-feudalism and the Cult of technocracy as a means of Salvation, which is the foundation for Mass Formation Psychosis. The result will be a deepening of our Anti-Social Civil, Economic and Social Orders towards Universal Psychopathy and the destruction of the Ecology for other evolving species that might not have caused their own extinction had humans not destroyed the Planet.
Blind-spot indeed.
Unbelievably valuable history presented here. Thank you!
Prof Hudson what a FANTASTIC 🤩 history lesson you have. It slots in so many disparate bits that I ALREADY knew or suspected.
Hudson is worth checking in on every 20 episodes.
This is the first interview/podcast in half a dozen years without a totally awesome bookshelf/prop in the background.
I like this scholar.
This is a treasure! Thanks!
Thank you!
Michael is amazing. This is the quality of experiential wisdom Elders impart to the youthfull. Well done Michael.
It is funny that Michal brought up the original meaning in the Lord's Prayer. I was watching the movie - Jesus of Nazareth from the 1970's, and they used the words " forgive us our debts as we forgive ". My thought at the time was they must have had serious historians consulted for the movie.
Thank you! Michael Hudson's depth and breadth of knowledge is stunning.❤
Thank you, Thank you, Thank you, for bringing these powerful truths to the people. In Solidarity.
Prof Hudson is Excellent thank you.
Thanks!
wow! thank you so, so much!
@@robinsonerhardt
Thank you.
🙏❤️🌎🌿🕊🎵🎶🎵
@@robinsonerhardt Please look up Look up Pathocracy
Fantastic interview
Excellent presentation. Thank you.
A great man and thinker. God bless him
Fantastic conversation!!!
"One does not own the earth upon which one walks." Crazy Horse
Then there is no need for "land acknowledgements", right?
U s government begs to differ
@@matthewnelson4298 every government begs to diff
@@matthewnelson4298every government begs to differ
Amazing interview.
It really says something about academia that Hudson isn't at a place like Harvard or Princeton.
he was, but he's 84 years old now so he's not going to hold a full-time professor position i suppose
Its not just FIRE it is double Fire because the people who 'work' in Finance Insurance and Real Estate (FIRE) who have and promote Financial Independence and Retire Early. (FIRE) Of course on the backs of people who produce goods and services in the real economy.
Harvard and most Ivy League colleges are far far left.
@@dennisgrant538Ha. No they are not. Not even close. They're liberal and liberalism is a facade the right wing puts on when they want to ward off the wrath of the masses.
@dennisgrant538 Depends what you mean by left. If you mean identity politics nonsense, then sure, but in the material sense they are staunchly right wing. They exist to preserve all the problems Hudson is talking about.
There's a degenerate left and a degenerate right, but they're two sides of the same coin.
Spot on. Excellent
Good seminar
Michael Hudson has filled in so gaps in my knowledge, especially relating to economics. A genius, every bit as important as Noam Chomsky or Chris Hedges.
Thank You, Michael Hudson.
Valuable information is much appreciated 👍
Great interview!
I was hoping you would have Dr. Hudson back!
So enlightening, thank-you!
Great guest 👍🏼
I love this dude !!
I really like your work.
I hope I'm this lucid and capable at 85.
They should close the Ivy league economic programs and just link to Michael Hudson's lectures.
Are not the brokers of Wall Street in the Rentier class?
In minute 56, he explains it is the entirety of Finance, Insurance, and Real Estate are making money in their sleep and not a part of the productive economy
Earned vs unearned income
They are purely extractive cost over an above profit
Arguments of what are cost of doing business vs overhead
Is price an value
The basic principle of political economy
Pareto optimums
Is how much how big if it's a medicated alabaster
You would like the banksters to poke your hiney with after he she
Tells ya your shoes undtied
Heads up about your shoe being untied what's the alleged currency swap traders like Drexel called the price of information
I could listen to Dr. Hudson all day… Thanks for letting him roll. I learned so much.
Fatastic Lecture Sir
Round two here we come
The reference to debt cancellation still exists in the greek orthodox version of the prayer btw. I hadn't realized it until I watched this video that it refered to debt and debtors.
he is the economic advisor to the stein campaign for prez in 2024. Vote for green party up and down the ballot. Your conscience will thank you
Unfortunately, so will Trump.
@@kvaka009 well if u view this thru the lens of history, biden is to palestinians hitler. He is the gr8er evil. I dont know how those who vote 4 biden can sleep at nite knowing that because of this administration we are directly implicated in genocide.
@@kvaka009 Bidens the gr8er evil in this game.
@@hhheee3939 stop it. That's silly.
@@kvaka009 oh so in ur mind h^tler is worse than trump? I hate trump but this guy is a ok wit the murkin innocents and whoever is left leavin em to die off from disease, thirst or starvation. In a sane persons mind thats worse. If u cant see that theres a word for peeps like u starts with an n and ends with a z i.
Greetings Respected Gentlemen . Debt cancellation is very much part of Indian Agricultural economy . Some Arab principalities also cancel non agricultural debts of its citizens during festivals. Agriculture is still the riskiest business due to a host of problems causing crop loss. This is totally different from deliberately indebting nations beyond their paying capacity leading to enslavement. Money chaging tricks played upon ignorant hapless populations and gamble away the future of nations. This is not Economics but theft and the Federal Reserve is the Fountain head of this criminal enterprise.
I heard about an Indian religious holiday, something about the books, meaning the old book is closed, debts are written off, and a new book is openened. Is this just a symbolic remnant from antiquity, or is it a real practice today? If it is the latter, it would be marvelous, but I doubt it.
Genuine question.
It is still a Government policy
I hope Nishta Jain is well
Ban social impact bonds crypto and ESG
@@hajijalaldarvish7350it's a ridiculous IP fight
Sensors trackers finders and feelers need to be removed from farming equipment
John Deere and Harley-Davidson should not be opting for a subscription model and then shilling that they're American made
The whole planet shouldn't use monsanto's seeds from Sweden
If it weren't the Fed it would be the central bank of another country.
"there is something about the MENTALITY of WEALTHY PEOPLE" 🎯
Its not just FIRE it is double Fire because the people who 'work' in Finance Insurance and Real Estate who have and promote Financial Independence and Retire Early. Of course on the backs of people who produce goods and services in the real economy.
Jubilee. Cancel debts, fallow the land.
Fascinating!
Did you de-Tune Michaels voice? Why is everything so much lower in pitch ?
Yeah, that was weird… It was like he was talking through molasses
Listening to this was like listening to Morpheus as he explained to you how you were trapped in the matrix, but in this particular case the Moneytrix.
Mr. Erhardt, you did however not introduce or even mention your 2 collegues, the big brown one and the grey cat!?
You need to have MMT economist Bill Mitchell on as well him and Michael Hudson are my 2 favourite economists.
As an electrical engineering with Management experiene I am fully aware of the power of using System theory or Cybernetix to create solutions in complex dynamic Environment. That is why I fully understand Dr. Shivas approach on geopolitics. Thank you Ivor that you have brought up his voice on your Show and yes you should thinks his arguments through and incorporate your findings in your key notes. I try to explain also the benefits of Libertarian thinking with the knowlededge of system theory, which is very easyJet. One should know that the system theory was developed in Princeton University in the 1940s and F. Hayek included the findings in his liberterian model of free markets. This is definitiv the only way to overcome Our problems😅
In other words, no regulation for the wealthy and their corporations and heavy regulation for everyone else, even in our bedroom and even for use of our own bodies!
Debt is good for the lender and for the wealthy who already can afford to borrow with interest, but it's bad for everyone else who have no control of the economy, wages or the rate of interest charged.
Oligarchy is benign for oligarchs who can purchase politicians who will protect their wealth. It's pernicious for everyone else who cannot regulate oligarchs or politicians without risking life and security.
Debt is killing us because we can't earn enough to keep up with the cost of living.
Let's do something about all of this. Get off the sofa, put your social media away. Turnn off the television. Join a political organization that represents you and pressure the politicians from within and without to regulate the system, to represent us, not the wealthy. Then fight for a better system but never forget democracy as you work for a better way to live. There is a better system but it requires vigilence to maintain!
21:07 introducing the idea of charging interest
26:58 expurgating the frame of Plato's republic
40:06 never heard this about western civilization that. 😢and i am over 40 years.
They never teach about economic history. 😢😢😢😢😢😢😢
So now i getvwhat they mean by those who write history control history. 😢😢😢
This was deliberate they even did the same thing to computer science
Economics was just the most gratuitous example
Shifting it from political economy to the modern propaganda
You would have had to take high level math what year of geology like 10 other things to get that degree
Now unless you deliberately choose hardware all you're going to do is focus on how to make apps
Just use java
In modernity, debt charge offs are technically tax deductible… Robinson, thank you for hosting professors and intellectuals. Gratitude
Not for the average joe it isn't..!
The Government now has 2X the Consumer Debt.
US Treasury Debt is at $34.4 and growing fast.
Consumer Debt is above $17 trillion and now appears to be straining Banks limitations....
The Government needs any form of income they can produce,
taxation is among the tools to relieve the Debts.
The Folks who benefit from reduced taxation,
appear to have the funds to purchase a few Leadership positions,
for their good and faithful Servants.
The ability to forgive Student Debt seems to be something they avoid discussing.
The Capital Gains Tax increases seems equally Verbotten.
Property Tax seems to have been limited so their extra Homes of Oligarchs, do not become more of a Burden.
The suggestion of a sales tax on Stock Exchange transactions seemed to be shot down quickly.
We do need to face the fact that an Oligarchy is in charge of the US Government,
and is in position to control Policy decisions in the same fashion as the Monarchy,
that the USA Founding Documents indicate are harmful to human development,
and now are the establish form of government the US has in place.......
The average person cannot even grasp all of this. They all just adapt to the system whatever that system is. So how to battle all this?
@AureliusH2O
Someone who understands a little bit how this system and people works.
Subscribed and liked 👍 ❤
A MASTER CLASS IN ECONOMIC SANITY AND CURATIVE MEASURES!!!
This channel needs a huge following. HES TELLING US WHAT IS REALLY HAPPENING! I am going to send to some ppl bec this is a must watch channel for ALL adults and students
Dr. Hudson gets it and the profound nature of economics. I never could see why libertarians existed. His explanation here is a truly revolutionary conclusion and should be taught to EVERY STUDENT
If you love Michael Hudson, you will love his Patreon group. We are small, but we are blessed to belong to his group.
I think I'll sign up
Wow, this was a real astounding interview. Thank you for sharing it! Will have to obtain some of Michael's books. Jee, what kind of an encyclopidian brain that guy has got and how he can really bridge the historical facts with the economic issues of today is really amazing!
The fact that the rhythms of agriculture shapes our economy should not be as novel as it is presented. It's because so many are so divorced from farming and where our food and fiber comes from. Anyone who pays attention to agriculture knows intrinsically about this debt cycle.
Awesome, thank you guys, thank you Mr Hudson
Wow, the basic ancient history of economics puts the modern BS into so much perspective so easily that it's no wonder the people who make all the money don't want it to be taught. Great interview, basically everyone should listen to it.
Thanks for sharing this
There are some problems in modern societies with debt cancellation. Let's talk about the other side of the equation. Most of the debt is private debt therefore canceling debts will wipe out crucially important economic entities, the banks and their depositors because banks invest their depositors' money. So all debt needs to be nationalized first. This is pretty much what happened in 2008 by the way, the financial system was bailed out. Did it work? Since than we had zero interest rates, quantitative easing, asset prices skyrocketing and finally consumer price inflation going through the roof and in the next step we are going to have a sovereign debt and currency crisis.
Are you really comparing the bailing out with Tax Money of failed banks in 2008 with what MR Hudson js actually saying? 😂😂
@@manchesterunited9576economics has destroyed their mind
They talk in circles
@@manchesterunited9576let me try to make his argument for him.
What they don't tell the public and the reason why they can't cancel student debt.
They took the original debts an
Re Hypothecated them sold them to forth filth an sixth parties.
God knows who's balance sheet they are on now on top of likely not even being solely domestic any more
Christopher Riccardi CDO's are truly like the nuclear reactors of finance
Michael is my guiding light through this whole situation we find the world in
Michael Hudson's knowledge of history and the reality of our economy's organization and operation is invaluable to the citizenry's perspective on our Main St. economy now. How does the Fed/Wall St. unlimited bailout system undermine the necessary cancellation of debt? Is it true that the Dems cancellation of the Student Debt is actually going to bailout the Crditors?
history is one thing but hudson also gave you a hint. read marx. what ppl seem to dont understand is that marx put the whole math down showing that capitalism is just a economic system for certain circumstances and has huge problems.
The observation of the Investors like the Rockefeller Bros in Electoral Industry affairs created a point of conflict in the ability to provide representative government that actually represented the average American Citizen in 1968.
My observations since that period appear to have indicated an increase in the ability of Money to purchase the service of Political Prostitutes,
has multiplied around 100 times.
How do the average Citizen get representative government that serves their needs?
The increase in the Electoral Industry offering good return on investment,
seems to be one of the growing costs that US Citizens now are forced to deal with?
How can the average American get representative government?
Handing the debt to the Consumers to insure the GDP remains positive,
was the work of Bernanke and Paulson in 2008.
Now the Consumer Debt has risen by $5 trillion since then.
The trend is to create more debt to support the concept of prosperity......
The indefinite continuation of the policy faces the challenges that all Colonial Empires faced.
The US Economy has run into a BRICS Wall that ended the ability to enable Colonial Exploitation,
to serve the needs of a lifestyle built on exploitation.
Vietnam was a classic demonstration of colonial exploitation that failed.
Iran was the second major indicator that US Colonial exploitation that began in 1776,
and was magnified in 1898 with the purchase of the Spanish Empire.
The USA became the wealthy Nation due to exploiting others.
Since the BRICS Trade Group organized the Trade Union,
from former US Colonies,
inflation has gone up.
The US is exploiting European Consumers to maintain a positive GDP.
That Policy does not seem to demonstrate good long term prospects.
Who will remain solvent as the US Treasury goes Tits Up?
Who is left to forgive the debts?
@@danielhutchinson6604 BRICS may not be the power we are all supposed to be afraid of. Our leadership is destroying America and the EU just fine as it is. Just as the political system is screaming at New Yorkers to 'GET OUT NOW'. As the aftermath of the 1/6 event communicates, a political intervention, not an 'Insurrection', the Washington DC Establishment, represented at the Capitol, are making political power exercised by the People impossible, making seeking redress from political representation illegal. It's the Establishment screaming get out of the USA now!. 'We the People' and our existential system, the economy, are being looted as if we were Argintina, and the rest of the 2nd and 3rd world, etc. Every town, city, county, and state in the US are every bit looted as if each of the 50 states were a colony, via the Wall St. central, command, control, bond market and other devices, as if the Dodd- Frank Act, which no one can explain, were never written. Labor has been destroyed to make way for Slave Labor, small businesses are destroyed by a PsyOp. Real Estate is being destroyed, organized under the dicktats of a corporatist takeover. It's not a series of inexplicable hostile acts, it's organized War on the people in our US Constitutional Republic.The case for the reorganization of this Fed/Wall St. unlimited bailout system is obvious, they owe us money, yet it's not proposed to the public. The Redevelopment of North America, the national security, the people's survival, orders the reorganization of the US Banking and Finance system.
@@danielhutchinson6604BRICS is not a new system. Those in charge of it have no intention to forgive debt. They are out for themselves and will be just as predatory as the existing system.
Alexander Hamiltons "American System."❤
The "american mephistopheles".
56:09 That really is important.
45:55 karl marx volume 3 debt and sociiety. 😢😢😢
18:52 can you synthetically make "the palace" the creditor to all debts if, for example, "the palace" maintains a "central bank" (yes, able to transact in the "free market") that will (during a jubilee) effect extraordinary measures (eg, becoming the "lender of last resort", brokering "private" recapitalization deals, etc)?
Isn't it a similar effect to occasionally step in ("extraordinary measures") for the psychological purpose of getting creditors and debtors to behave as if "the palace" is in fact the ultimate creditor?
(In a system of forced taxation and deficit spending, "the palace" basically socialises the bad debt writedowns across creditors and the economy at large)
My friend, you have such a beautiful space with cute funny pets. I highly suggest a Balkan painter by the name of Gent Proko. Incredible works. I'm sure you'd enjoy. Excellent interview you have here! This makes macro economics common sense theory. Thank you both!
i thought the dog was gonna say something also... lol 😂
In the end people will be lovers of self and money. A loaf of bread will cost a days pay.
Good one. Thank you. Perhaps a video about sanction price fixing
So sad Argentinas situation 😢
I've often wondered how the amortization schedule for a home mortgage came to be. It's the most insidious form of wealth extraction relating to debt, whereby the mortgagee makes almost no headway on paying down the principal unless one makes payments for well into the life of the loan. I'd be interested to know if Professor Hudson knows the answer to this question.
Constantinople, Jerusalem, Alexandria, Antioch, Rome
We need a public banking system.
There are four ways of coexistence: 1cooperation 2symbiosis 3 positive parasite(keeping the host alive) 4 negative parasite( killing the host)
WHEN IS THE MARXISM PART? anyone know, it should be listed in the timestamps in the outline but is not!
Hudson mentions Capital Vol.3 in passing at 47:00 but he avoids the issue.
Hudson’s program of debt cancellation by a reformist leadership is possible without a revolution. Notice the Hudson never mentions the working class. If there is a “class struggle” it is between the “rentier/financier class” and “productive capitalist class”.
I have seen a few interviews with Hudson and he name drops Marx like all academic Marxists do.
The interesting details gives are ultimately useless because he is not clear on his position of capitalism. His assertion at 34:36 that debt cancellation “is socialism” shows he is not a Marxist.
@@johnwilsonwsws thanks, appreciate that
At the height of the Roman Empire the name of the poet was nearly forgotten.
......Can i pet that dog?
Thanks for the education and conversation!
Thank you!
MD has amazing knowledge. He should work on how to fix the stupid system that we are trapped in.
His Books are Wonderful!I Have Them All!!!
Am i hearing wrong here, its sound like Michael voice sound different than normally
Robinson doesn’t quite sound right either, something is wrong with the audio mix.
National treasure !