TheRealNews on Feb 26, 2017
Michael Hudson, author of the newly released J is for Junk Economics, says the media and academia use well-crafted euphemisms to conceal how the economy really works.
by Danny Lucia
July 14, 2010
IN THE past year, the mayor of New York City has become $2 billion richer while his city has grown $1 billion poorer.
When this type of thing happens in a country in Africa or Central Asia, we call it a “failed state.” Their failure, apparently, is a lack of subtlety. Looting your country’s grain reserves to build the world’s largest tetherball arena makes you a kleptocratic dictator. But if you get stinking rich selling information technology to the banks that have looted your treasury through bailouts, well, you’re just Mayor Mike.
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by Prof Michael Hudson and Prof. Jeff Sommers
Global Research, February 15, 2010
While most of the world’s press focuses on Greece (and also Spain, Ireland and Portugal) as the most troubled euro-areas, the much more severe, more devastating and downright deadly crisis in the post-Soviet economies scheduled to join the Eurozone somehow has escaped widespread notice.
No doubt that is because their experience is an indictment of the destructive horror of neoliberalism – and of Europe’s policy of treating these countries not as promised, not as helping them develop along Western European lines, but as areas to be colonized as export markets and bank markets, stripped of their economic surpluses, their skilled labor and indeed, working-age labor generally, their real estate and buildings, and whatever was inherited from the Soviet era.