How debt is financing Wall Street's class war against the American people.
Sep 12 2015
We've moved into a central planning economy - exactly what the free market people warned would invite socialism - but our economy is being planned, not by governments or elected representatives, but by Wall Street.
Economist Michael Hudson explains how finance became capitalism's driving force and why an increasing amount of American life is being dedicated to sustaining unsustainable debt values, then gives a radical history lesson in debt economics - from ancient Sumer to the University of Chicago - that suggests the only way to end a debt crisis is to end the debt itself.
Michael is author of the new book Killing the Host: How Financial Parasites and Debt Destroy the Global Economy from CounterPunch.
Guest
Michael Hudson
Michael Hudson is an economist, President of The Institute for the Study of Long-Term Economic Trends (ISLET), and Distinguished Research Professor of Economics at the University of Missouri, Kansas City.
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