If you have "no place to go," come here!

What Michael Hudson said

Via a great comment here:

HUDSON: The—1,000 years ago, it took a military army to come in and conquer a country and grab the land and charge the people rent, to take control of the monopolies and charge people huge markups from the monopolies, and to essentially shift the taxes off the wealthy, onto the population that was conquered. Now, in today’s world, they can’t afford an army anymore. The Vietnam War showed that no country can afford a military occupation anymore. So finance today is the means of conquering a country and getting what in the past took an army.

Financial conquest is how you shift the taxes onto the population to pay the financial sector, how you load a population down with debt and make a population pay interest and amortization and penalties on debt service, you make a population pay for schooling instead of getting it free or a low price as used to be the case, you make a population take on a lifetime of debt in order to get a home that used to be affordable, you make the governments go into debt for the banks, so that in Europe governments can’t—don’t have a central bank to monetize their own deficits but actually have to borrow money from banks. You achieve—you essentially empty out an economy, and you take its economic surplus financially without an army, just by trying to promote what really is junk economics and junk politics, if the economics of Rubinomics in America under Clinton and Rubinomics in America under George Bush, and now with a vengeance under Obama.

Yep. This is another view of the "central planning" Robb talks about here. It's Harvard's job to produce the junk economics and junk politics, for example.

NOTE Look! Over there! Gay marriage! Not to say that gay marriage is not a good thing, and also a triumph for all that is good in the human spirit, because it is all of that. What I am saying is that it is part of what we deal with that our own best impulses are used against us.

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Brian.Nelson's picture
Submitted by Brian.Nelson on

It seems that there is some plan to just take over everything and even though that sounds like a conspiracy theory, there are many who are pointing out that what some people have said in the past are coming true. The debt is not supposed to be controlled, even though it should be.

People dream of a better time where they don't have to worry about extreme finances but the truth is that things are probably going to get worse before they get better.