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Moderate Rebels

What's causing the inflation crisis? Economist Michael Hudson explains

Moderate Rebels

Moderate Rebels

News Commentary, News, Politics

4.7673 Ratings

🗓️ 4 January 2022

⏱️ 68 minutes

🧾️ Download transcript

Summary

Economist Michael Hudson discusses the global inflation crisis and how the US Federal Reserve has given trillions of dollars to large banks.

VIDEO: https://youtube.com/watch?v=m7eAbbVMr_4

Transcript

Click on a timestamp to play from that location

0:00.0

Hey, everyone.

0:05.3

This is Ben Norton, and I'm joined by a friend of the show, one of our favorite guests, Michael Hudson, the economist.

0:15.1

His reputation precedes him.

0:16.7

Many of you probably know him.

0:17.9

You can go to Michael-hythun hyphen Hudson.com and check out his excellent

0:22.8

articles and his books. We had him on a few months ago to talk about the new third edition

0:29.3

of his book, Super Imperialism, the Economic Strategy of American Empire. And today we're going to talk

0:36.7

about the inflation crisis around the world.

0:40.5

In the U.S. in 2021, there was inflation around 7%. And this has led to a lot of discussion about

0:47.2

what is causing the inflation, why there's inflation. And Professor Hudson has pointed out for many

0:53.5

years that inflation in the U.S. and

0:56.1

other countries is often, it's often measured in a very strange way that doesn't include

1:01.3

housing prices and doesn't include what he calls the fire sector, finance, insurance, and real

1:06.3

estate. So today we'll talk about the rising rates of inflation and what corporate media outlets are missing about the story.

1:14.4

But before we begin talking about that, Professor Hudson, another reason I wanted to have you today is to talk about a big story that went viral.

1:22.9

It was just published today.

1:24.8

And in fact, it's on the website Wall Street Parade and it went so viral that the

1:30.7

website actually went down because it was being shared so much. But this is an article just published

1:37.5

at wall street unparade.com. I have it up on the archive just because the website's down.

1:45.8

And the article is titled,

1:52.3

there's a news blackout on the feds naming of the banks that got its emergency repo loans.

1:56.4

Some journalists appear to be under gag orders.

...

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