with Michael Hudson
Writer, Dandelion Salad
michael-hudson.com
January 27, 2015
Image by craftivist collective via Flickr
CrossTalk: Wealth Abyss
RT on Jan 26, 2015
One percent already has half the world’s wealth under its thumb and at this rate is set to accumulate even more. As much of the world slowly recovers from severe recession, the rich are prospering and greatly so. Is the global system rigged to their advantage? CrossTalking with Max Lawson, Richard Wellings and Michael Hudson.
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. His upcoming book is titled Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy. He can be reached via his website, mh@michael-hudson.com.
see
Big Fish, Little Fish by Michael Hudson
from the archives
85 Billionaires and the Better Half by Michael Parenti
Global wealth: 1% own 48%; 10% own 87% and bottom 50% own less than 1% by Michael Roberts
Circus of Deceit–The Big Boys of The Fortune 500 by Wayne Burn
see also
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Good discussion.
Michael Hudson is right. Debt slavery is neo-feudalism. He is also absolutely right about the urgent need for land reform, as big criminal investment cartels have been literally “buying” up planetary zones of indigenous territory to which there is no legal title other than the arbitrary say-so of puppet regimes; and in the case of Ukraine, it is the most highly valued agricultural land.
This is second-wave colonial imperialism by capitalist-committee decree. The good news is, we know where they live…
I recently listened to two stirring interviews, the first with Sam Adams Associates 2015 award winner William Binney about the surveillance-security state; and a Global Research interview out of Winnipeg with Dmitry Orlov, that provides some unique perspectives on Russia and the looming crisis in the “West” as the US buckles under the crippling weight of its grotesque neo-liberal legacy, of socio-economic mismanagement…
Thanks, David. I so agree.
If you have those links, please add them here. I think I saw both of them, just don’t have the time to look them up. I’m a huge fan of Orlov and have been for many years.
http://www.globalresearch.ca/lessons-from-the-soviet-collapse-a-conversation-with-dmitry-orlov/5426760
https://www.tragedyandhope.com/interview-with-william-binney/
Thanks so much, David.
Amen, David! I totally agree!
Dimitry Orlov is great, and William Binney is a courageous truth-teller!
I just watched an almost hour film on the internet by the great, compassionate John Pilger which will curdle your blood.
[edited] https://dandelionsalad.wordpress.com/2011/08/07/john-pilger-war-by-other-means-1992/
Thanks, Frank.
I edited your comment to put in the blog post on Dandelion Salad.
Here is the direct link to the video as it is no longer embeddable on other websites: https://www.youtube.com/watch?v=8bfDOGNboE8&feature=player_embedded
Lo, You’re the man!
Thanks!
Haha, you are so funny. I am a woman.
I’m embarrassed! That’s what we get when we “assume” something to be true without evidence of our assumption.
You’re a wonderful, admirable woman, Lo, for all that you do.
And to save space on your comment below, I’ll reply here.Take care of whatever you have to do for yourself. We’ll be here waiting for your excellent articles and benevolent contribution to society.
On Word Press – you know the old saying: “If it ain’t broke, why fix it?”
.
Please don’t feel embarrassed; you are not the only one that has assumed that I was a man.
About WordPress, many bloggers are saying the exact same thing in the Forums in their complaints about how nothing is working the way it should and the problems with navigating to the “classic” administrative pages. According to WP, they are “streamlining” the administrative pages so to be more “useful” to those using mobile and tablet devices in a portrait (vertical) platform all the while disrupting the experience for those of us still using computers in a landscape (horizontal) layout. It’s a clash and so far it is not working well for anyone.
All the things I have to do right now in real life are good things; will update you soon. It is weather dependent, so if it’s very cold, I’ll have more time to do publishing.
On a side note, I have been called up for jury duty later this Spring. I’ve been called up before but wasn’t chosen as a juror because of my more far left views, unfortunately. I guess it depends on their questions that they give us as to whether I would actually be chosen for jury duty. In my opinion, we need more jurors with far left viewpoints. If I do have to serve, I would have to go on hiatus during that period of time, although I do think it’s unlikely as I stated before.
Here’s a blog post about the WP changes. The CEO/owner of WP actual comments on it.
https://freedfromtime.wordpress.com/2015/01/27/about-wordpress-changes-and-what-we-can-do/
I appreciate that Frank, I can’t commend John Pilger’s work highly enough. I’ve read his books and articles for years and seen all his films I think, except Utopia, that is not yet available free, on-line. Their content should indeed be revisited on a regular basis, and ought to be integral to, an essential part of, multi-disciplinary curricula for history and political science courses and all humanities faculties.
What never ceases to amaze me, is the cras ignorance of these over-paid, inexperienced geeky policy boffins ~ I mean, what kind of education do these idiots receive?!
The problem for so many of us, who see through the deceptive fog of US “foreign policy,” and its wet blanket propaganda is… (Paul Craig Roberts has really nailed that one!) …that we can begin to spin like dervishes in one mesmeric spot, as it becomes increasingly difficult to escape the perpetual loop of tormenting frustration with the sheer inertia of public ignorance.
My deep regret is that the US has utterly squandered whatever advantage it enjoyed post-WW2. Unprecedented opportunity, skills, ingenuity and wealth ~ all thrown away. Why? To gratify the greed and stupidity of a privileged, but ruthless few. These people are terribly sick.
I see the 1980’s as the time when everything went completely wrong. Now we are all reaping the harvest of the subsequent hells that were unleashed. Did they learn nothing from Vietnam? It just beggars belief really.
It’s like some kind of collective psychosis. We need strong medicine.
Thanks, David. Pilger’s been a hero of mine for years. And your first paragraph – very important for a society which is increasingly becoming more and more ignorant, complacent, and callous to others.
More later,about another hero and compassionate man and I think as equally frustrated with society as we are, Paul Craig Roberts.
Now off to the salt mines!
donwredford: The general public is more interested in sports events and movie stars and singers than they are about the more important things in life.
It’s easier to seek temporary relief with a spectator diversion than to face the harsh reality of some of the things you mentioned.
Even worse is the war mentality. Check out this article.
http://mwcnews.net/focus/politics/49256-us-troops.html
Maybe Lo will put it on DS.
You are right Frank, many seek solace in trivia, International tennis, in fact I do the same to a limited extent, nevertheless you have to have a taste of pursuing unpleasantries, I mean sometimes the pursuit of truth, for example the President of Indonesia states the two Australians will have to die as 18 thousand Indonesians die annually through heroin, I checked the stats on Australian deaths through heroin and from memory it was just over one hundred, annually, if this number of Indonesians die it may have a connection with this drug but other aspects are at work, is this President stupid?
I have a fiend who is a PHd, and I think she is stressed out, when in conversation I happen to drift into some atrocity, she becomes depressed, I now have to talk in the main about nice things, as you say sport and the rest of diversions, it is remarkable to me how the 1% have got the masses under control by giving them enough diversions to avoid anything to close to the bone? also so far the age of technology have been on the side of the corrupt.
Good point, Don, on people with depression, although I know many people without depression who just avoid the “news” in general. Maybe they don’t want to become depressed as it is very depressing.
I think there is also a hopelessness that can happen when you pay attention to all the world’s problems. A “what can I do?” attitude. It becomes overwhelming, especially to more sensitive people.
Personally, I try not to internalize it, but instead speak up about it to as many people as possible, especially in person, as well as through the blog.
Maybe not everyone can be activists. My attitude is I am going to do everything possible and continue to my death. I can’t give up hope.
Amen, Lo! Excellent prescription for what ails society.
Thanks, again!
Thanks, Frank, unfortunately I am very busy with some stuff that needs to be done here at home, so will have to publish much less the next month or two. Also, WordPress.com is becoming more and more of a frustrating experience just in trying to publish a post with all their so-called “new” changes. I cannot call them improvements as they are anything but.
I have heard these stats of the 1% now for some time, we have to question why this is so? either the general public are in a state of sleep, or having enough say so what? and those who do not have enough are marginalized and do not count, considering the 1% are renown for their indifference to the environment and our planet? how can anyone not have a conscience? as this effects all, unless they are unenlightened, instead of looking at the grammatical mistakes of writers, for those who indulge in this activity, get a better vision, of what is crucial.
Thanks, Don. Great questions.
In my opinion, more and more people are struggling financially so they are busy working more than one job, sometimes more than 2 jobs just to pay the bills. They are exhausted and turn to the TV/Internet, etc. in order to escape reality even for a few hours a day/night.
It’s really up to the ones who are struggling less/doing OK to speak up for all those who are not doing OK.