Wednesday, March 18, 2009


In keeping with what I wrote yesterday, here are some videos of interviews and statements made by a seasoned economist named Micheal Hudson. This guy pulls no punches, and doesn't seem to target a particular political entity, so I'm thinking partisanship isn't his thing. It appears his main interests are to explain what is going on, how it happened, why and what to do to fix it. Plus gain a little profile, in all likelihood. Hey, somebodies got to do it..


$450 Trillion in derivatives? Did I hear that right?

Last year he said this;

Once in a lifetime rip off;

I picked up the first video from a blog post Red Tory has up. Red comes up with some very interesting stuff at times. Isn't the internet wonderful??


  1. My nomination for quote of the day:

    "The old order discredits itself, but the old order persists nevertheless."

    From "Financial Journalists Fail Upward", at

  2. From your article Herb;

    "This needs to be repeated every time someone pleads, "Who could have known?" Plenty of people did see the disaster coming. Most of them were marginalized, however, laboring at out-of-the-way econ departments, blogs and B-list think tanks. They were excluded and even ridiculed because their larger understanding of the economy was not one that fit well with the sort of Wall Street worship preached by the likes of CNBC."

    CNBC being a propaganda arm, I'll set that aside and go back a bit. I wrote numerous times on gart's blog about Elliot Sptizer. While most people focused on the shiny thing, my attention was on the conspiracy.

    For those who don't recall, Spitzer was working diligently to expose the sub prime debacle and was hours away from making a major move when the 5000 wire taps hit pay dirt.

    Lot's of people knew.

  3. And Spitzer had to bail, while the culprits got bailed out.

    Time to cite Kipling once again:

    And it all goes into the laundry,
    But it never comes out in the wash ...

    ("Stellenbosch", first refrain.)

    Oh, the last refrain is

    An' it all went into the laundry,
    But it never came out in the wash.

  4. Heretical thought while watching an AIG big wig being grilled at Committee: Is this whole AIG bonus issue more than "a shiny thing over there"?

    You can flog people in public over 150 millions, but what are you going to do for satisfaction in the case of, say, 50,000 millions?

  5. With the masses on bended knee, the Knights on White stead will arrive. Prestidigitizer (PTDBD), in hand. And everything will be alright. Wounds salved, broken limbs mended for some. Til the next time.

    With that in mind, Radio Okie presents;

    "Jesus Christ Superstar". Alright.

    and this "Heaven on their minds".

  6. Spitzer; the Sheriff of WS was sacrificed. For a little more fleecing time?! My favourite quote yesterday from a sobbing Glenn Beck of FOX- "Believe in something--even if it's wrong--Believe in it". Priceless. Thanks. And the grifters and Con's don't believe it's their moral duty to put their neighbour's house-fire out. Even at the risk of losing the 'hood. linda.

  7. In the Hood.

  8. Speaking of PTDBD, he is deadly on Greater Fool to-day with comments #59 and 69.

  9. Re: Pecked.

    I recognize and appreciate genius, such as his. Quietly screaming, for so few who hear.

    I also have an extreme sense of the Viper.

    A curse borne of blood.

    My next post was going to be about the current miraculous rise of fortunes on the U.S. stock markets of, what I will be the first to call, "The Big Three"

    I'm watching gold bleed, and AIG follow the path of Citi and Banco America. What do these, Big Three, have in common? via the labors of America's working citizens. Complements of their benevolent governments.

    Re: The Revolution. In all likelihood, they will head us off at the Pass, with their printing presses. They don't send their chilun's to Harvard just to smoke the best available ganji you know.

    All bow to the almighty Carpet Baggers.