As stock market crashes, is US facing new financial crisis? Economist Michael Hudson explains
The stock market crashed on August 5, in a new “Black Monday”. What caused it? Is the USA on the verge of a new financial crisis? Ben Norton is joined by economist Michael Hudson to discuss the extreme volatility, AI / Big Tech bubble, Japanese yen carry trade unwind, Chinese economy, and geopolitical dangers.
Check out Geopolitical Economy Hour, the program Michael Hudson hosts with Radhika Desai, here: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP
His website: https://michael-hudson.com
Topics
0:00 Teaser
0:54 Why did the stock market crash?
8:19 Is the US economy entering a recession?
12:36 Japan and the yen carry trade unwind
27:14 China’s economy
32:41 Popping of the AI / Big Tech bubble?
46:05 Geopolitics: Russia, Ukraine, Israel, Iran
54:19 Re-inflating the bubble?
1:03:51 Can’t the debt be rolled over?
1:07:27 Asset price inflation vs consumer price inflation
1:11:29 Capital gains grow faster than the economy
1:13:12 What is missing from most economic analysis?
1:26:05 Outro
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48 Comments
The microsoft blue screen was a global block to prevent a much earlier stock market crash- a pause tool- so that warren and very wealthy and powerful figures like Nancy Pelosi have more time to sell their stocks before they crashed
Very good, thank you for the insights.
This will be the last recession.
The recovery is called DJT….
Save the billionaires!!!
Economist Michael Hudson: The U.S. Economy has BEEN SHRINKING SINCE 2008!
Exactly RIGHT! We-the-people have been ROBBED to bail out, AND FURTHER ENRICH, the bankers for nearly TWENTY YEARS!!!
Like mama says: You can deceive people for a long time, but you can't deceive people forever. In fact, you only deceive yourself when you think that you are deceiving somebody else.
Trump crashed the stock market not once but twice. donOLD also crashed oil prices to $0 We're in good shape. At least donOLD isn't around to wreck everything and bring us another plague.
Correction, if you are referring to the assassination of Haniyeh in Tehran, he was not a militant but a diplomat who was negotiating a peace settlement in Gaza on behalf of Hamas.
The usa must be stupid they are not winning the war of popular people the mind boggles at how stupid they are
Fabulous interview, gentlemen .
Thanks ❤
another good interview
The bull walks up the stairs and the bear jumps out the window.
Joe Biden turned the US into a banana republic.
1:13:00 ish
If you owe the bank $1,000, it's your problem; if you (the public) owe it $1 trillion ……it's the banks' problem. Check it: Leverage. #NationalizeTheBanks
Thank you Professor Michael Hudson for the IQ BOOST
They are trying to run the Reset!!
there is NO such thing as "AI", it is nothing more than what is known as signal processing, and "list comparison", a concept developed by Charles Babbage and his co werker Eva back in the 1860's. the only difference is the development of faster computers, this creates the illusion of intelligence, but is NO such thing, even today’s fastest computers have NEVER had an original thought between them. this makes “AI” VERY easy to defeat, as human brain capacity is lightYears ahead of what is currently known as A.I., but we MUST stay vigilant. "AI" is nothing more than PR hype/marketing, capitalist consumerism at its finest and most stupid. remember, give a shit, and stay vigilant!!
Hey, WHAT crash? I don't see a crash?
The financial crisis is already in US for quite some time. The manipulation of the dollar can cover up this crisis not much longer. The dollars are now been extensively used for speculative purposes such as stock investments and purchase of high risk US bonds. Whereas the Chinese Yuan are been used for trading, trade settlements and other value-added trade activities. So the choice is obvious.
Are we going to see the demise of capitalism?
Another comment of mine DEIBERATELY CENSORED BY this Wall Street/CIA CONTROLLED site!!!
The genius Michael Hudson! Always learn from the genius
👍
Excelente!
Fear porn title. FYI an 8% correction off the all-time high is not a "crash". If you knew the first thing about financial markets, Ben, is that 5-10% drawdowns are normal and often healthy for working off an over-bought condition.
Please try and learn a little more before trying to scare people
It's crucial to consider how potential policy changes might influence market value growth as the election approaches. Election outcomes can affect sector performance, introduce market volatility, and necessitate adjustments to investing strategies in anticipation of legislative shifts.
America may win the war. China wins the peace.
Very good program!!!!
It must be important if Ben Norton appears with Prof Hudson.
Great interview. Basically we're bankrupt (the 99.99%). Thanks, makes sense.
❤
Did he say "house of farts"?
Financial analyst Jim Rickards says the U.S.A. has been in a depression since 2007. According to the standard definition you can have a recession in a depression, since the depression strips a sector of the population out of the economy, so it rises and falls for the remainder.
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Okay so I am out of tqqq, now I’m in sqqq!
"Economists" use and euphemism they call me "Business Cycle ".
Buffet and his company, BH, has been revealed as a huge Ponzi scheme, in coordination with the vastly wealthy Pritzker family. Using Peter to pay Paul, and scrambling to cut their losses.
As if booms and busts are normal. Instability is baked in., except for the highest earners.
New?? Did the previous one ever go away?
yes, but when?
"The 10% makes their money by impoverishing the 90%"
USA lost all the wars and now they want to say there economy depends in there’s military wapons production 😂 😂😂😂😂😂😂😂it’s a shame
I think you guys are also forgetting that the whole chip ban thing is also an attack from old money against new money
The Jews billionaires screwed USA and you still support them because you are corrupt 😂😂😂
thanks for sharing this
7:40
I hope the US bankrupt itself over and over and over endlessly
4.3% unemployment rate in fantasy land, 27.7% unemployed in the real world
Excellent guest speaker 👏