“When it comes to launching rockets into outer space, there lies many hidden problems particularly with launch sites. The launching of a rocket before it ever reaches outer space is a major problem. It concerns the environment, nearby wildlife and overwhelmingly impacts the local communities in negative ways.”
Shepheard-Walwyn Publishers on Jun 16, 2022
Welcome to the Shepheard Walwyn podcast and a two part interview with Michael Hudson, perhaps to the world’s most influential (but rarely acknowledged) economist. Michael has had a remarkable career starting off as a practical or reality-based economist working for a variety of institutions looking and how banks really behave.
For all the avowed patriots who demand my Pledge of Allegiance and salutes on Loyalty Day, Fourth of July, and other patriotic, militarized holidays, I fling this question to your hearts: how deep and far does your loyalty to your country run?
The great progressive Harvard economist and prolific best-selling author, John Kenneth Galbraith, wrote that “Ideas may be superior to vested interest. They are also very often the children of vested interest.” I wished he had written that assertion before I took Economic 101 at Princeton. One of the vested ideas taught as dogma then was the comparative advantage theory developed by the early 19th-century British economist, David Ricardo. He gave the example of trading Portuguese wine for British textiles with both countries coming out winners due to their superior efficiencies in producing their native products.
The overturning of the landmark Roe v Wade case providing federal protection for a woman’s right to choose is both appalling and enraging. Now, several conservative states have already begun outlawing abortion rights. It is undeniable that women’s rights have taken an enormous blow, and the effect will have repercussions around the world.
BREAKING: Supreme Court Effectively Ends Abortion Access in Much of the United States
June 24, 2022
Shortly after 10am E.T. this morning, in a devastating decision, the Supreme Court officially and effectively ended abortion access for people in about half of the United States.
If you’ve never traveled around the state of Texas, you won’t really get an accurate picture of this odd land of extremes. The cities, especially Austin and Houston, are islands of relative sanity surrounded by a sea of crazy. All this considered, the unveiling of the Texas GOP’s platform should come as no surprise. They have merely tapped into the paranoid, hyper-nationalist, fascist zeitgeist so prevalent among a large swath of its white, Christian population.
To Wall Street and its backers, the solution to any price inflation is to reduce wages and public social spending. The orthodox way to do this is to push the economy into recession in order to reduce hiring. Rising unemployment will oblige labor to compete for jobs that pay less and less as the economy slows.
Since January 2021, the U.S. House of Representatives has passed 412 bills (See: Congress.gov) and sent them to the Senate. Unfortunately, the Senate hasn’t acted. “What?” you say, “don’t the Democrats control both Chambers of Congress?” Sure, by the barest of margins. Handcuffed by the filibuster, a Senate rule (not a federal law) requires 60 votes to pass legislation in what Senators of yore called the “world’s greatest deliberative body.”
As we observe Pride Month, we should remind ourselves that the original Pride Parade was a riot, not a celebration of conformity to society. There were no permits issued to the people who marched down those streets in New York City. There were no corporate, bank or military floats participating. And it was mocked by mainstream press like the New York Times.