by the Real News Network
Barack Obama and the bipartisan quacks of Wall Street and corporate media keep telling us that lower taxes on the wealthy create jobs, the exact opposite of what real economists have known for ages. For a dose of economic sanity, Paul Jay of The Real News Network interviews Michael Hudson, a real economist, who explains how the U.S. was more prosperous and created more high wage jobs when it taxed 90% of the highest individual and corporate "earners".
VIDEO
Dr. Michael Hudson is, unlike the mopes you see on TV, an economist who actually predicted the real estate, subprime and general financial meltdowns of the last few years. Dr. Hudson is a financial economist and historian. He is president of the Institute for the Study of Long Term Economic Trends, a Wall Street financial analyst, and distinguished Research Professor of Economics at the University of Missouri, Kansas City. His 1972 book, Super imperialism, the Economic Strategy of American Empire is a critique of how the United States exploited foreign economies through the IMF and World Bank. He is also author of The Myth of Aid, and Global Fracture, the New International Economic Order. On today's program we discuss his newest book, in progress, the Fictitious Economy; How Finance is Destroying Industrial Capitalism, and Paving the New Road to Serfdom.
And the Real News Network is exactly what its name says. It's one of the places we at Black Agenda Report go to get OUR news. Thanks to Paul Jay.
Cuban president Miguel Diaz-Canel paid tribute to Malcolm X on the anniversary of his historic meeting with Fidel Castro.
Kenya's president William Ruto talks a good game about Pan-Africanism but in his short time in office he has become the reliable cover for U.S. imperialism.
Cuba hosted the recent G77+China Summit in Havana, where calls to change the existing world order were made by Global South nations.
Kenya has stated it will lead a potential intervention in Haiti backed by the US and the UN. The move is yet another attack on the sovereignty of Haiti in service of imperialist interests and…
U.S. hostility towards China, the Beloved Community and the effort to end violence, and partisan gerrymandering and its impact on voting rights.
