The surge in unionization in the US will cause temporary sinking of some stocks for the reasons professor Hudson explained; it should not deter the workers and it definitely should not scare pro-union incumbents.
You under estimate the Power of Capital and the level they are willing to stoop down to. They would rather engage in Capital strike then let the Unions have a resurgence. Many ways to deal with Unions if you have Capital as Capital is Power. Not many things that Power and Money cannot fix. Even if Unions grow they can just close shop or reduce shops temporarily until Union capitulates. Shift their Capital out of the country or into other sectors.
@@weiskl887 So you're arguing against unionization by basically saying worker organizing is hopeless because capitalists can just close shop and go somewhere else; as if that "capital strike" or "capital flight" or whatever is not enabled by deliberate policies. Why did they start happening during the Clinton era? Why couldn't they do it during FDR?
But I am a retired bond holder and I own rental properties. I am all for higher interest rates and higher rents in my retirement. I agree the minimum wage should be $30 per hour, the price of one ounce of US Treasury same at 1966. Sadly, that would make prices rise. What to do? Print more fake debt note IOUs? This is another fine mess you have gotten me into Ollie. Laurel and Hardy quote. LOL.
Ben Franklin responded to this concept in the 1750s when he?supported Pennslyvania printing money to fight the French on the grounds such printed money can be used to pay taxes. You see this again from the 1930s till the 1980s. The top income tax rate was 90% (Till 1964 when it dropped to 70%). That rate was paid by the highest income earners in the US, most people paid far less. The problem was NOT the printing of money but a refusal to increase taxes. In fact taxes on the rich was cut by Reagan as he printed more money. Inflation only stopped under Clinton as the Soviet Union collasped and the US had its first "Balance budget" since 1969 (Done by Lyndon Johnson as his last budget). Under Bush jr, taxes on the rich was cut again as military spending again boomed. It was the cut in taxes that lead to paper money NOT being withdrawn
"Long term economy" that is taking Adams Smith's "Wealth of Nations" to its logical conclusion. The problem is the economic problems predicted by Karl Marx. Karl Marx was a follower of Adam Smith, something most economists do not even want to address let alone admit. Just a comment on why Hudson is often called a Marxist for he looks and address the long term effect of Adam Smith.
Indeed! The extremely distorted cultural caricature of Smith is just as 1-dimentional and insane as the caricature of Marx, both aligned of course in how they serve the assumptions of neoclassical econ and neoliberalism ie "junk economics" as Michael more than appropriately labels it. Reading Smith for the first time and having to reconcile the reality with the absurd illusory characterization I had been told of prior was more than illuminating however, and as you're saying I imagine this is why contemporary "economics" avoids entirely a more in-depth reading/discussion on these guys. I mean like Smith not only points out the tendency of the rate of profit to fall, central to Marx's crisis theory thing (I think it's like ch.6 of WoN if I recall), the unsustainability of prioritizing unrestricted profit-seeking via division of labor through imperialism, and of course the consensus focus of all classical econ: eradicating the rentier class. _"Kelp was never augmented by human industry. The landlord, however, whose estate is bounded by a kelp shore of this kind, demands a rent for it."_ - ch.11, Wealth of Nations; Marx of course, as you're also saying, basically bringing all these conceptions to their logical conclusion from a macro historical materialist bird's eye view, noting the rent extraction necessarily inherent in the labor/capitalist relationship itself with "surplus value". I mean my god, we've dug an enormous societal hole and our "solution" is to continue digging but more furiously than ever... Socialism or [continued] barbarism.
The govt in the UK spent approx. £1/2TN on its covid response - that is half its GDP borrowed and spent over an above its normal budget. To suggest that this 'money creation' is not a factor that has led to inflation seems almost myopic in its denial of its affect.
What Hudson is too polite to tell you is that no one in the USA or UK can afford the current standard of living on fair grounds, China for instance can, because it's an industrial country that doesn't manipulate numbers or use force to maintain a favorable trading position or access to resources. The USA and the west in general should go entirely bankrupt and start all over again with a reformed domestic and foreign policy that doesn't rely on stealing/manipulating/bullying their way into good living standards. It's either that or what we have now permanently.
The 8.6% inflation might be a bar to ignore. // Option 1) JP fight inflation by sucking liquidity from the market, increasing RRP to $2.3T, along with "radical" hikes. Option 2) The o/n market panic, the primary dealers don't know who is screwing up, they refuse to return their collateral next morning, holding it, paying fines, but they don't care. JP care about clogging the o/n market that finance mortgages, car loans, c/c loans.. whatever loans. The primary banks, MM escaped to the the Fed vaults in return to good collateral. JP must fill the gap to prevent collapse. The $2.3T RRP is about 50% of the repo market. The Fed fight deflation, not inflation. // Russia sell oil to China and India at $30 - $40 discount. India sell it in the spot market taking profit and use it. Less demand, large discounts, lower oil prices, at least for a while. Diesel crushed farmers. Lower diesel might crush inflation, before Nov election...
Seldom do you have inflation across the board. This is no different. For the longest time, it has been led by housing. Now food. Labor participation is very low and that means wages have not risen enough to pry people out of their homes and into the work force.
@@merfymac Goes to the tooth and dagger fake history of human's that came from a skull found in Europe with two holes in it (saber tooth tiger bite, in reality).
This administration must go. Vote them out. New horizons in sight. People power exists for next 4 month period can change everything. Vote independent. Take away democratic parties grip. Or just go Republican. Change the Scenario Now
He'd have to tell you the ugly truth that you don't want to hear if you're from the west if he didn't do that, you don't deserve your living standard and you got it through stealing and violating other countries rights, you'd have to go bankrupt, get rid of the oligarchy and landlord classes and renegotiate your trade and relationship with the rest of the world in order to stop suffering from the side effects of capitalism
That guy is a quack. I used to believe him, but a lot of his claims are almost entirely discredited by historians. This isn't to say that the USSR wasn't a brutal regime; it absolutely was and that's bad. But to say that the USSR is representative of the only form communism can take is simply stupid nonsense.
Really? How about the 2008 bail outs and protection from fraudulent charges... IMF Policies? World Bank policies?... Disallowing countries to produce their own food so they have to buy American produce?.... It is one big F....ing corrupt oligarch fiasco x50x50x50...... IMF in particular is super evil to enriching oligarchs over these people they subdue to serfdom.....I am not into name calling, so I will say it this way, You are propagating asshole economics Hudson, is absolutely right ethically, morally, and sensibly
Yes you can and he isn't saying costs aren't deferred or that you can somehow produce through printing money the real goods and services you don't have.
No hairpiece. Just a bit unruly hair (and new haircut; see how short over the ears) - he just needs to put some mousse on it. I like it as it is... "Dylan-esque Professor" look. Dr. Michael Hudson is my Shadow Kingdom Sec of the Interior. Give everybody a good paying job... make what we need here... solar cells to telephones to TVs to washing machines... etc... don't need "money" to do that.. just a willing worker and a willing employer (The State). Listen to Dr. Hudson and you will know how to restart the US Economy.
Always good to hear your thoughtful and logical analysis. I don't care about bullish or bearish market. Trade a small percentage of your portfolio rather than going in and out every couple weeks trying to time the market trading went smooth for me as I was able to raise over 8.4 BTC when I started at 3 BTC in just few weeks implementing Donovan Howard's daily trading signals and tips..
I could listen to Mr Hudson speak for hours.
Yeah don't tell him to wrap up. Geeez
@@Mortum_Rex LOL
Yeah, me too, there's so much to learn from him.
OK you can go on y tube
Global Financial Empire 1
Global Financial Empire 2
Global Financial Empire 3
Michael Hudson.
@@rogerburn5132 Thanks for the info.
Michael Hudson Fan Club
Just recently found your channel from a recommendation on Reddit.
Subscribed!
Always an eye opener to hear Michael Hudson’s analysis. Thank you for having him on!
🙏 Michael Hudson, the Great Explainer clears our inflation confusion and reveals how the Fed conducts its wagefare against the working class
Fix the FIRE sector aka Finance Capitalism and you’re halfway there.
Kick the US out of the UN and shut down Bretton Woods, and you're 3/4 there.
CAN'T SCUD THE HUD
Mr. Hudson has highly Rational Analysis. It make sense.
The surge in unionization in the US will cause temporary sinking of some stocks for the reasons professor Hudson explained; it should not deter the workers and it definitely should not scare pro-union incumbents.
You under estimate the Power of Capital and the level they are willing to stoop down to. They would rather engage in Capital strike then let the Unions have a resurgence. Many ways to deal with Unions if you have Capital as Capital is Power. Not many things that Power and Money cannot fix. Even if Unions grow they can just close shop or reduce shops temporarily until Union capitulates. Shift their Capital out of the country or into other sectors.
@@weiskl887 So you're arguing against unionization by basically saying worker organizing is hopeless because capitalists can just close shop and go somewhere else; as if that "capital strike" or "capital flight" or whatever is not enabled by deliberate policies. Why did they start happening during the Clinton era? Why couldn't they do it during FDR?
If it is cost, labor, supplies etc, causing inflation then why are corporations making record profits during this time of high inflation?
High inflation is good for big corporations but is bad for the 99% because they have to pay the same amount of good with much higher price.
fake profits . . . (stock buy backs, qe, repo manipulations, etc) . . . nothing real.
But I am a retired bond holder and I own rental properties. I am all for higher interest rates and higher rents in my retirement. I agree the minimum wage should be $30 per hour, the price of one ounce of US Treasury same at 1966. Sadly, that would make prices rise. What to do? Print more fake debt note IOUs? This is another fine mess you have gotten me into Ollie. Laurel and Hardy quote. LOL.
"Paper always returns to its intrinsic value, ZERO." -Thomas Jefferson
Will it make it past the censors? Have a nice day?
You're confused sir
Ben Franklin responded to this concept in the 1750s when he?supported Pennslyvania printing money to fight the French on the grounds such printed money can be used to pay taxes.
You see this again from the 1930s till the 1980s. The top income tax rate was 90% (Till 1964 when it dropped to 70%). That rate was paid by the highest income earners in the US, most people paid far less.
The problem was NOT the printing of money but a refusal to increase taxes. In fact taxes on the rich was cut by Reagan as he printed more money. Inflation only stopped under Clinton as the Soviet Union collasped and the US had its first "Balance budget" since 1969 (Done by Lyndon Johnson as his last budget). Under Bush jr, taxes on the rich was cut again as military spending again boomed. It was the cut in taxes that lead to paper money NOT being withdrawn
"Long term economy" that is taking Adams Smith's "Wealth of Nations" to its logical conclusion. The problem is the economic problems predicted by Karl Marx. Karl Marx was a follower of Adam Smith, something most economists do not even want to address let alone admit. Just a comment on why Hudson is often called a Marxist for he looks and address the long term effect of Adam Smith.
Indeed! The extremely distorted cultural caricature of Smith is just as 1-dimentional and insane as the caricature of Marx, both aligned of course in how they serve the assumptions of neoclassical econ and neoliberalism ie "junk economics" as Michael more than appropriately labels it. Reading Smith for the first time and having to reconcile the reality with the absurd illusory characterization I had been told of prior was more than illuminating however, and as you're saying I imagine this is why contemporary "economics" avoids entirely a more in-depth reading/discussion on these guys. I mean like Smith not only points out the tendency of the rate of profit to fall, central to Marx's crisis theory thing (I think it's like ch.6 of WoN if I recall), the unsustainability of prioritizing unrestricted profit-seeking via division of labor through imperialism, and of course the consensus focus of all classical econ: eradicating the rentier class.
_"Kelp was never augmented by human industry. The landlord, however, whose estate is bounded by a kelp shore of this kind, demands a rent for it."_ - ch.11, Wealth of Nations; Marx of course, as you're also saying, basically bringing all these conceptions to their logical conclusion from a macro historical materialist bird's eye view, noting the rent extraction necessarily inherent in the labor/capitalist relationship itself with "surplus value".
I mean my god, we've dug an enormous societal hole and our "solution" is to continue digging but more furiously than ever...
Socialism or [continued] barbarism.
✊
Prof Hudson does not understand futures pricing. Prices are mostly high because speculators are bidding up commodity values.
He literally said that
Doesn’t need to introduce Michael Hudson.
so what is inflation?
The govt in the UK spent approx. £1/2TN on its covid response - that is half its GDP borrowed and spent over an above its normal budget. To suggest that this 'money creation' is not a factor that has led to inflation seems almost myopic in its denial of its affect.
What Hudson is too polite to tell you is that no one in the USA or UK can afford the current standard of living on fair grounds, China for instance can, because it's an industrial country that doesn't manipulate numbers or use force to maintain a favorable trading position or access to resources. The USA and the west in general should go entirely bankrupt and start all over again with a reformed domestic and foreign policy that doesn't rely on stealing/manipulating/bullying their way into good living standards. It's either that or what we have now permanently.
The 8.6% inflation might be a bar to ignore. // Option 1) JP fight inflation by sucking liquidity from the market,
increasing RRP to $2.3T, along with "radical" hikes. Option 2) The o/n market panic, the primary
dealers don't know who is screwing up, they refuse to return their collateral next morning, holding it, paying fines, but they don't care. JP care about clogging the o/n market that finance mortgages, car loans, c/c loans.. whatever loans. The primary banks, MM escaped to the the Fed vaults in return to good collateral. JP must fill the gap to prevent collapse. The $2.3T RRP is about 50% of the repo market. The Fed fight deflation, not inflation. // Russia sell oil to China and India at $30 - $40 discount. India sell it in the spot market taking profit and use it. Less demand, large discounts, lower oil prices, at least for a while. Diesel crushed farmers. Lower diesel might crush inflation, before Nov election...
A RESOUNDING “NO” TO america.アメリカに対する圧倒的な「ノー」。
Seldom do you have inflation across the board. This is no different. For the longest time, it has been led by housing. Now food. Labor participation is very low and that means wages have not risen enough to pry people out of their homes and into the work force.
The video appears to be unstable! The view is not clese/stady!
So financial capitalism is based in social Darwinism.
Closer to Malthusianism, but basically yes.
It's Darwinian if humans were cannibalistic and got stronger in proportion to how many people they ate
@@merfymac Goes to the tooth and dagger fake history of human's that came from a skull found in Europe with two holes in it (saber tooth tiger bite, in reality).
THX Green United Polare Ö 7
This administration must go. Vote them out. New horizons in sight. People power exists for next 4 month period can change everything. Vote independent. Take away democratic parties grip. Or just go Republican. Change the Scenario Now
Love Mr.Hudson but to discount money creation as a factor (perhaps the factor) in inflation is a fundamental flaw of his thinking.
He'd have to tell you the ugly truth that you don't want to hear if you're from the west if he didn't do that, you don't deserve your living standard and you got it through stealing and violating other countries rights, you'd have to go bankrupt, get rid of the oligarchy and landlord classes and renegotiate your trade and relationship with the rest of the world in order to stop suffering from the side effects of capitalism
He seems a little out in left field. Left field. lol
. . . and?
Your point?
If you think communism is the solution perhaps you should read some Solzhenitsyn.
That guy is a quack. I used to believe him, but a lot of his claims are almost entirely discredited by historians. This isn't to say that the USSR wasn't a brutal regime; it absolutely was and that's bad. But to say that the USSR is representative of the only form communism can take is simply stupid nonsense.
Spinmeister.
Hudson is wrong when he makes a case that governments have been subsidizing prices. Governments cannot subsidize prices in macro sense.
Really? How about the 2008 bail outs and protection from fraudulent charges... IMF Policies? World Bank policies?... Disallowing countries to produce their own food so they have to buy American produce?.... It is one big F....ing corrupt oligarch fiasco x50x50x50...... IMF in particular is super evil to enriching oligarchs over these people they subdue to serfdom.....I am not into name calling, so I will say it this way, You are propagating asshole economics Hudson, is absolutely right ethically, morally, and sensibly
Yes you can and he isn't saying costs aren't deferred or that you can somehow produce through printing money the real goods and services you don't have.
@@steviewonder417 If costs are not deferred then you are paying for them and government is not paying but just passing on the costs.
@@Rob-fx2dw costs always being deferred by any intervention is the point. This is the nature of inflation.
@@Rob-fx2dw you realize Marx was a goldbug right?
Is that a hairpiece?
It's more like a "comb over"
no. get b=new glasses, anna. you're getting too old for this, dear.
No hairpiece. Just a bit unruly hair (and new haircut; see how short over the ears) - he just needs to put some mousse on it. I like it as it is... "Dylan-esque Professor" look. Dr. Michael Hudson is my Shadow Kingdom Sec of the Interior. Give everybody a good paying job... make what we need here... solar cells to telephones to TVs to washing machines... etc... don't need "money" to do that.. just a willing worker and a willing employer (The State). Listen to Dr. Hudson and you will know how to restart the US Economy.
Always good to hear your thoughtful and logical analysis. I don't care about bullish or bearish market. Trade a small percentage of your portfolio rather than going in and out every couple weeks trying to time the market trading went smooth for me as I was able to raise over 8.4 BTC when I started at 3 BTC in just few weeks implementing Donovan Howard's daily trading signals and tips..
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