by Michael Hudson
Writer, Dandelion Salad
October 17, 2022
Some follow up comments to my appearance on the Ralph Nader show.
I am looking forward to our next Q&A session with Patreon Plus supporters this Friday.
Ralph Nader Radio Hour on Oct 16, 2022
Ralph welcomes Marta Tellado, president and CEO of Consumer Reports and author of “Buyer Aware: Harnessing Our Consumer Power for a Safe, Fair, and Transparent Marketplace.” She and Ralph tackle many consumer related issues including how consumer rights are also civil rights.
And previous guest Professor Michael Hudson rejoins us to forcefully rebut a listener comment about his view of the Federal Reserve, quantitative easing, and who runs the US Treasury.
Plus, Ralph has some choice words about how we should be thinking about immigration.
[Hudson begins at 43:20 minutes into the video.]
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 A Philosophy for a Fair Society (2022), The Destiny of Civilization (2022), …and forgive them their debts (2018), 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 & 3rd Edition 2021), Trade, Development and Foreign Debt: A History of Theories of Polarization v. Convergence in the World Economy (1992 & 2009) and The Myth of Aid (1971), amongst many others. He can be reached via his website Michael Hudson, mh@michael-hudson.com. Originally published Oct. 16, 2022.
From the archives:
The Proletariat in Search of a Class, by Gaither Stewart
There Is No Country On Earth That Fully Protects Workers’ Rights, by Pete Dolack
Michael Hudson and Ralph Nader: The Real Purpose of The Federal Reserve
Michael Hudson: A Short History of Inflation in Modern Times
The Financial Industry Is A Lot Bigger Than A Giant Vampire Squid, by Pete Dolack
Michael Hudson: The Nature of Financialization and Neoliberalism, Interviewed by Eric Draitser
Michael Hudson: Finance Capitalism’s Self-Destructive Nature
Capitalism Is Working As Intended: The Madness of Capitalist Inequality, by Pete Dolack
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Pingback: Reckless Capitalist Banks Rescued by Government Socialism – Again! by Ralph Nader – Dandelion Salad
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Around the 50 minute mark when Michael states “If you have debt growing faster than the rest of the economy then more and more income has to be spent on debt service,” he forgets to mention medical debt which is huge.
I believe he does include all debts, so medical debt would also apply even if he didn’t mention it in this video.
Thanks DS but I was referring only to this interview. Maybe I will have to listen to it again, but I don’t think he mentioned it here which is too bad since it was such a great vociferous rebuttal.
Medical debt now exceeds all other debt in the US: https://www.fiercehealthcare.com/finance/medical-debt-now-outweighs-all-other-personal-debt-us-those-medicaid-nonexpansion-states
Have you watched the first video yet? https://dandelionsalad.wordpress.com/2022/09/29/michael-hudson-and-ralph-nader-the-real-purpose-of-the-federal-reserve/
Yes, I commented on it. I was mentioning the medical debt info here because Michael was so fierce in his reply and he condensed the information in this interview and others might not listen to the previous one.
Thank you for mentioning it, sumitra88, as it is indeed most important.