RT @EverySongIveEve: “Revolutionary constituencies always involve a tacit alliance between the least alienated and the most oppressed.” -…

RT @doctorow: America’s longest period of expansion – the post-war boom – kicked off with the lowest levels of debt in living memory (warti…

RT @doctorow: Desperate, broke people are willing to work for ever-lower wages, which puts downward pressure on EVERYONE’S wages. Hudson:…

RT @doctorow: And at the other end of that pipeline is a massive debt-collection bubble, as fintech subprime darlings like Oportun unleash…

RT @doctorow: Contrast with the US, with ever-more-desperate measures to deny the iron law that “debts that can’t be paid won’t be paid.”…

RT @doctorow: And in China, where most of the finance sector is state owned – where banks are public utilities – debts were suspended: “deb…

RT @doctorow: Canada and many EU governments simply assumed the payrolls of firms, relieving them of their major expense and providing read…

RT @doctorow: It’s worth contrasting the US approach – the $1200/person bailout, the $6T finance bailout – with other countries that are le…

RT @doctorow: And now the US real economy – the wage-generating (and thus debt-servicing) economy – has ground to a halt. The finance econo…

RT @doctorow: Between mounting costs for housing, education, transport and health – a place to sleep, a path to employment, a way to get to…

RT @doctorow: This is a very sharp observation in the US context. The 2008 crisis was “solved” by bailing out finance, not people – and so…

RT @doctorow: Hudson’s oft-repeated golden rule is “Debts that can’t be paid, won’t be paid.” That is to say: making it harder to declare b…

RT @doctorow: In a new essay on @NakedCapitalism called “How an ‘Act of God’ Pandemic Is Destroying the West: The US Is Saving the Financia…

RT @doctorow: If you’ve read U Missouri econ prof Michael Hudson’s writings on the subject, you know that for millennia, rulers in these ci…

RT @doctorow: We are in an extraordinary moment, but not an entirely unprecedented one. Since the earliest days, societies have had to cope…

RT @doctorow: Eventually there comes a reckoning. Debts that can’t be paid won’t be paid. Business as usual has been to “let creditors fore…

RT @doctorow: US consumer debts can only be paid by “shrinking production and consumption, leaving them as strapped as Greece has been sinc…

RT @JonangusMackay: Necropolitics: ‘As colonial settler states, both the US & Israel are employing necropolitical strategies to deal with…

RT @doctorow: The decision to to force businesses to pay rent during the shutdown led mass bankruptcies: a business that closed for months…

RT @doctorow: Something has to give: “either the population’s broad economic interests, or the vested interests insisting that labor, indus…

RT @doctorow: 19% of hotel mortgages are in arrears, 10% of retailers – commercial real-estate mortgages stand at $2.4T. 40% of retail tena…

RT @doctorow: And while the US government can conjure money into existence by typing numbers into a spreadsheet at the central bank, states…

RT @doctorow: Neither the GOP nor the Dems are willing to confront this. McConnell has advised states to meet bond obligations by raiding t…

RT @doctorow: For thousands of years, governments have understood that crises can only be weathered through debt forgiveness. The Anglo-Ame…

RT @doctorow: “Money can be created to finance the material economy, labor and industry, construction and agriculture. When a company is un…

RT @doctorow: It’s a very different story in China: “China can recover financially and fiscally from the virus disruption because most debt…

RT @friedmann_f: @neillkemp @RichardJMurphy @GowerInitiative Then again, before I ever heard of #MMT, but wanting to understand about money…

RT @larbelaitz: @davidgraeber @ROAR_Magazine “We need to see the value in the sort of labor we would only really want humans to do”. @argi…

RT @astroehlein: New BBC boss warns comedians not to joke about the government & its signature policy of brexit, and not to mock the Tories…