Michel Chossudovsky: America’s Fiscal Collapse – Obama’s Budget Will Impoverish America

Capitalism Kills

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Interview with Michel Chossudovsky
Bonnie Faulkner
Guns and Butter
September 2, 2009

America’s Fiscal Collapse: Obama’s Budget Will Impoverish America

Listen: Guns and Butter

This audio archive will be available until Wednesday, September 16th 2009


[clip from the show]

replaced video May 12, 2013

Is THIS how the bank bailout money is being used?

May 4, 2012

Who do the banks owe money to? Are those hudge funds affiliated with  the very banks that were bailed out? Prof. Chossudovsky explains. He  emphasizes the bailouts will not help the crisis, but will exacerbate  it. He explains that to pay for Obama’s budget defecits, public roads  and parks will be sold off to private companies and banks, who will  charge user fees to citizens, and that these user fees will be used to pay back the bailout money to the government. In short, the government  is helping the banks finance their own debt.

He also says that bailed  out banks are using the bailout money to buy up assets in the real  economy (such as industry, tech, & airline stocks) at rock bottom  prices, which will dramatically change the ownership structure in  America. Will this lead to the creation of a financial and industrial  oligarchy?


Michael Hudson: Dress Rehearsal For Debt Peonage

How Bad Will It Get? By Mike Whitney

American Monetary Institute 2009 Conference: “We Shall Prevail” by Richard C. Cook

5 thoughts on “Michel Chossudovsky: America’s Fiscal Collapse – Obama’s Budget Will Impoverish America

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  4. This is nuts. Two plans have been proposed that will get the economy up and runing again soon. The Cook Plan which is like the Alaska Fund, giving every man woman and child and generous mothly stipend which will get the economy moving almost immediately. The other plan as proposed by Ellen Brown is to form state and naitonal banks. Government money will flow into these banks and fractional reserve banking by those banks will generate the cash flow the goernment need. This has worked in orth Dakota for close to a hundred years. This will free the government from the clutches of banks, and internaitonal banking sydicates. This will not necesitate selling off assets.
    ad will keep politicians from being bought.

    If the Dumbcrat and Repugnacan politicians don’t want to move on this, they need to be replaced by independents or an honest third party. If that doesn’t happen, let the economy fail, and the banks ca damn well eat their loses!

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