Yves here. Get a cup of coffee. This is another meaty talk with Michael Hudson, this time focusing on his classic Super Imperialism. Hudson has an updated and expanded version set to go to print soon.
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Sarah Jones, in The Coronavirus Class War in New York Magazine, does a neat, tidy job of kneecapping the notion that the anti-lockdown protests are manned by workers who want to get back to their jobs so they can start making money again.
Given the dramatic rise in unemployment, cuts in hours, and sharp decline in gig economy work, it isn’t surprising that hunger is becoming more common, particularly among families with children. Nearly half the U.S. couldn’t withstand a $400 emergency, and most households that have taken hits are seeing bigger income losses than that.
There are so many wheels coming off that analysts and the business press is on coronavirus crisis overload. And unlike 2008, the Fed can’t save anyone from the Grim Reaper.
The information-aware and many in the medical industry are nervously watching the news about coronavirus spread and mortality rates. What we know so far isn’t pretty.
It’s not hard to see why young people are embracing socialism. It isn’t simply that they can see a probable grim future under capitalism as they know it: more and more low-wage, high surveillance jobs versus more budget and psychological stress as most also have higher fixed costs (rentier housing costs, student loan payments, even […]
A Review of Michael Hudson’s new book AND FORGIVE THEM THEIR DEBTS
Unlike past sanctions against Russia, which European governments have backed, albeit with some grumbling, since some countries, particularly Germany and the Netherlands, have commercial ties with Russia, the EU is opposed to the latest US campaign.
Growing inequality has been one of the most salient features of the US economy over the last 40 years. A variety of explanations for this rapid growth in top incomes have been proposed, including growing firm size new technology, the market for superstars, poor governance, and changes in top tax rates.