Michael Hudson: Jesus Would Have Cancelled The Debt But Obama Bailed Out Wall Street

cancel the debt

Image by Friends of the Earth International via Flickr

by Michael Hudson
Writer, Dandelion Salad
September 14, 2018

With Max Keiser on the history of debt from the Bronze Age onwards. Max poses the question, has a historical precedent been set with the bailing out of creditors, not debtors in 2008?

Keiser Report: Reality of Creditor Jubilees (E1278)

RT on Sep 11, 2018

In this episode of the Keiser Report, Max and Stacy look at the question of “whether or not China has what it takes to be a superpower?” In the second half, Max interviews Dr. Michael Hudson, the author of the soon to be released book, “…and forgive them their debts: Lending, Foreclosure and Redemption — From Bronze Age Finance to the Jubilee Year.” They discuss the new – or not so new? – reality of creditor jubilees in which investors’ bad investment decisions are made whole and why it has always instead been the debtor who has rightfully been given a clean slate.

[Hudson begins at 12:11 mins in]

Michael Hudson is President of The Institute for the Study of Long-Term Economic Trends (ISLET), a Wall Street Financial Analyst, Distinguished Research Professor of Economics at the University of Missouri, Kansas City and author of …and forgive them their debts, J is for Junk Economics (2017), Killing the Host (2015), The Bubble and Beyond (2012), Super Imperialism: The Economic Strategy of American Empire (1968 & 2003), Trade, Development and Foreign Debt: A History of Theories of Polarization v. Convergence in the World Economy (1992 & 2009) and of The Myth of Aid (1971), amongst many others. He can be reached via his website Michael Hudson, mh@michael-hudson.com.

from the archives:

Chris Hedges and Nomi Prins: How Central Bankers Rigged the World

We Now Live Under The Rule Of A Rentier Capitalism by Paul Street

The Life and Times of Michael Hudson: From Trotsky’s Godson to Modern Monetary Theory

Chris Hedges and David Harvey: Enough is Enough of This Capitalist Fraud

Michael Hudson, Stephanie Kelton, et al: Why Monetary Theory and Policy Is a Critical Terrain For the Left (Left Forum 2018)

“Creating Wealth” through Debt: The West’s Finance-Capitalist Road by Michael Hudson

Roman A. Montero: Early Christian Communism

Chris Hedges: The Decline of the American Empire and The Rise of China

Socialism, Land and Banking: 2017 Compared to 1917 by Michael Hudson

China – Avoid the West’s Debt Overhead: A Land Tax is Needed to Hold Down Housing Prices by Michael Hudson