Junk Economics [View all]
Paul Sliker and Dante Dallavalle talk with Michael Hudson, one of the world’s six economists who accurately predicted the 2007-2008 financial crisis. He explains how Orwellian doublethink is used to conceal how the economy really works.
https://soundcloud.com/democracyatwork/michael-hudson
Ongoing notes:
Book: “J is for Junk Economics”
-95% of population saw real income shrink = Hillary not President
-Economic policy differences in Obama/Trump? Not so much … now.
- “If people believe vocabulary newscasters use, they will live in an alternative world”
- “there is a reason we are not achieving what is technologically possible” = Economic rent
-Where does the actual wealth go?
-Bubble economies = make money by inflating price of stocks on credit = Ponzi scheme = exponential investor growth required
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