The Great Ponzi Scheme of the Global Economy - Interview with Michael Hudson (author, Killing the Host)
Posted by freedomforall 8 years ago to Business
The Great Ponzi Scheme of the Global Economy - Interview with Michael Hudson author of, Killing the Host, How Financial Parasites and Debt Bondage Destroy the Global Economy.
http://www.amazon.com/gp/product/B014...
http://www.amazon.com/gp/product/B014...
The problem of the misleading nature of GNP figures etc has not been solved. I rather like this story:
1947, Scottish civil servant John Cowperthwaite arrived in Hong Kong to oversee its economic development. He said "I came to Hong Kong and found the economy working just fine. So, I left it that way. I abolished the collection of statistics". Cowperthwaite believed that statistics are dangerous, because they enable social engineers of all stripes to justify state intervention in the economy.
http://humanprogress.org/blog/hong-ko...
The ever increasing debt- it is mostly debt owed to fictitious entities or to ourselves, yes Ponzi is the best way to describe it. For those in it there is no way to evade loss, those outside it will still get hit.