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To most people, if they are familiar with it at all, BlackRock is an asset manager that helps pension funds and retirees manage their savings through “passive†investments that track the stock market. But working behind the scenes, it is much more than that. BlackRock has been called “the most powerful institution in the financial... Read More
Can we admit that we were wrong? Can we admit that the coronavirus is not going to kill "hundreds of thousands or even millions" of Americans? Can we admit that the public health system is not going to buckle and collapse? Can we admit that we fashioned our public policy on flawed computer models that... Read More
Facing the Covid-19 pandemic, the US Congress rammed through the CARES Act — which economist Michael Hudson explains is not a “bailout†but a massive, $6 trillion giveaway to Wall Street, banks, large corporations, and stockholders. Max Blumenthal and Ben Norton discuss the enormous financial scam with Hudson, who reveals how the economy actually works,... Read More
The answer to the question is “YES.†The large bailed-out creditors will end up with the property of the non-bailed-out debtors who are being pushed deeper into debt with “bail-out loans†and fees and penalties for missed debt payments. Write-offs for the One Percent, and more indebtedness for everyone else. Turn your mind to the... Read More
There's no doubt that the Coronavirus is a serious infection that can lead to severe illness or death. There's also no doubt that 'virus hysteria' has been used for other purposes. Wall Street, for example, has used virus-panic to advance its own agenda and get another round of trillion dollar bailouts. In fact, it took... Read More
To fight the coronavirus at home, France is removing all military forces from Iraq. When NATO scaled back its war games in Europe because of the pandemic, Russia reciprocated. Moscow announced it would cancel its war games along NATO's border. Nations seem to be recognizing and responding to the grim new geostrategic reality of March... Read More
The Senate's $2 Trillion Coronavirus Relief Package is not fiscal stimulus and it's not a lifeline for the tens of millions of working people who have suddenly lost their jobs. It's a fundamental restructuring of the US economy designed to strengthen the grip of the corrupt corporate-banking oligarchy while creating a permanent underclass that will... Read More
You can almost smell the fear-laden sweat oozing from the pores of television broadcasts and social media posts as it finally dawns on our political and media establishments what the coronavirus actually means. And I am not talking about the threat posed to our health. A worldview that has crowded out all other thinking for... Read More
I’m Bonnie Faulkner. Today on Guns and Butter, Dr. Michael Hudson. Today’s show: Rescuing the Banks Instead of the Economy. Dr. Hudson is a financial economist and historian. He is president of the Institute for the Study of Long-Term Economic Trend, a Wall Street financial analyst and Distinguished Research Professor of Economics at the University... Read More
WASHINGTON and SAO PAULO - The George W Bush administration's US$700 billion no-accountability scheme, globally, informally dubbed "cash for trash", is making all the headlines. Simultaneously, there's the small matter of the United Nations General Assembly sanctioning the troubled birth of a new, multipolar world. As a 21st-century counterpart to the Dadaist Manifesto, this chain... Read More