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Michael Hudson: What is Debt Deflation?

with Michael Hudson
Writer, Dandelion Salad
michael-hudson.com
May 18, 2013

Strike Debt Rolling Jubilee

Image by The Eyes Of New York via Flickr

RussiaToday May 18, 2013

In this episode of the Keiser Report, Max Keiser and Stacy Herbert examine stories about those who, using spoof trades, bogus securities and fictitious capital, steal real wealth and income. They discuss how it is that every benchmark index is rigged and introduce the concept of the ‘bonus benchmark.’ In the second half, Max talks to Dr. Michael Hudson, author of The Bubble and Beyond, about debt and wage deflation and about the intersection of interest rates and wages going back to David Ricardo when wages were measured against the price of bread to today when they are measured against the price of debt.

Keiser Report: Whimsical Price Tyranny (E446)


Michael Hudson is a former Wall Street economist. A Distinguished Research Professor at University of Missouri, Kansas City (UMKC), he is the author of many books, including Super Imperialism: The Economic Strategy of American Empire (new ed., Pluto Press, 2002) and Trade, Development and Foreign Debt: A History of Theories of Polarization v. Convergence in the World Economy. His book summarizing his economic theories, The Bubble and Beyond, is now available. His latest book is Finance Capitalism and Its Discontents. He can be reached via his website, mh@michael-hudson.com.

see

The Banking System In Short by Rudo de Ruijter

Michael Hudson: Solution to Student Debt is to Get the Banks Out of the Education Business

Government Debt and Deficits Are Not the Problem. Private Debt Is. by Michael Hudson

Michael Hudson: Public Banking Needed to Stop “Cannibalization” of the Economy + Transcript

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