[Marxism] Michael Hudson dissects the current international economy

Ralph Johansen mdriscollrj at charter.net
Mon Jul 18 15:39:56 MDT 2011

Michael Hudson on the specifics of the current budget imbroglio and why 
there won't be a default, the background to why Obama is nothing more 
than a Wall Street puppet, how he has completely destroyed European 
trust in US government intentions, *how the mainstay of the U.S. balance 
of payments for the last 50 years has been agriculture, not industry, 
why the financial sector is not a class and how it actually functions,* 
how the role of the social democrats now is way to the right of the 
conservatives, in the US, Britain, Iceland, Greece, Ireland and all over 
Europe, why the Eurozone is unworkable and failure to change it 
inevitably causes the break-up of the European Union, how privatization, 
asset stripping, is accomplished through myth-making, how*devaluing the 
currency is in reality devaluing the price of labor*, and "much, much 
more..." that should be paid attention to, critically.


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