Michael Hudson: US Coronavirus Bailout Scam is $6 Trillion Giveaway to Wall Street + How The US Makes Countries Pay For Its Wars: Economics of American Imperialism

Education Collage

Image by Jacob Anikulapo via Flickr

by Michael Hudson
Writer, Dandelion Salad
April 26, 2020

Moderate Rebels on Apr 20, 2020

Facing the Covid-19 pandemic, the US Congress rammed through the CARES Act — which economist Michael Hudson explains is not a “bailout” but a massive, $6 trillion giveaway to Wall Street, banks, large corporations, and stockholders.

Max Blumenthal and Ben Norton discuss the enormous financial scam with Hudson, who reveals how the economy actually works, with the Federal Reserve printing money so rich elites don’t lose their investments.

(Interview recorded on April 13, 2020)

Transcript

How the US makes countries pay for its wars: Economics of American imperialism with Michael Hudson

Moderate Rebels on Apr 22, 2020

Economist Michael Hudson explains how American imperialism has created a global free lunch, where the US makes foreign countries pay for its wars, and even their own military occupation.

Max Blumenthal and Ben Norton discuss the economics of Washington’s empire, the role of the IMF and World Bank, BRICS and attempts to create alternative financial systems, and the new cold war on China and Russia.

(Interview recorded on April 13, 2020)

Super Imperialism by Michael Hudson (pdf)

Transcript


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.

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From the archives:

Joe or No? by Jim Kavanagh

Why Trump Scapegoats China, by Finian Cunningham

Covid-19 is Bringing the Vulnerable U.S. Empire Towards Collapse, by Rainer Shea

John Pilger: Can We Trust Our Governments In What They Say To Us About Coronavirus? No, We Can’t, Absolutely Not!

Abby Martin: US Empire Exploits COVID-19 For More War

Did Congress Just Nationalize The Federal Reserve? No. But… by Ellen Brown

Chris Hedges: The Priorities Are To Bail Out Large Corporations + Hedges on Coronavirus, Climate and What Next?

Jack Rasmus: The Bailout For Workers Needs To Be As Big As The Bailout For Banks + Richard Wolff: Fate of the Global Economy

Michael Hudson: The Beginning of the End of Super Imperialism in 2020?

Debate on Modern Monetary Theory (MMT) Parts 1-4 (updated)

14 thoughts on “Michael Hudson: US Coronavirus Bailout Scam is $6 Trillion Giveaway to Wall Street + How The US Makes Countries Pay For Its Wars: Economics of American Imperialism

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  14. The situation will only be rectified when money creation is directly in the hands of the nation, not a private usurious central bank. With a closed system, such as we have now, there is never enough money to pay off all the debt. This situation does not exist when there is an open system of money creation, when the nation generates its own money without interest.

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