Junk Economics

[PsychoBabble]

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

[Cary]

1. I'm not impressed.

[Cary]

2. I studied economics

I have a degree.

I studied what this guy calls "economic history" and had none of what he calls "mathematics." In fact that's not economics, it's finance.

I didn't hear him once speak of supply and demand. If he's not talking supply and demand he's not talking economics, sorry.

Hillary wanted war with Russia? She is so much with the top 1%? He's as bad with Orwellian slogans as the people he seems to be complaining about, which is basically everyone except himself.