Depression "inevitable for the United States" not worldwide.
"Sharp increase in unemployment... large scale foreclosures, bankruptcies while military expenditures will increase."
A big hat tip to the Radio4All network and the recent "Unwelcome Guests" program from Watkins Glen, NY for the link to this sizzling hot, must listening radio interview on the economy from KPFA radio. Hear Hudson who
hails from University of Missouri (Kansas City) elaborate clearly and in easy to understand language about economics and "debt peonage."Program Summary
"The New Road to Serfdom"
Interview with economist and historian, Dr. Michael Hudson, on his new book in progress, "The Fictitious Economy: How Finance Is Destroying Industrial Capitalism and Paving a New Road to Serfdom." We examine what is meant by the term "fictitious" as the concept is applied to aspects of today's economy. We take a look at the role of war and the demise of the dollar, the bubble economy, and what could unfold in the future. Visit Dr. Hudson's website at www.michael-hudson.com.
He has previous shows at his web site, but this one addresses current monetary conditions and several very alarming economic scenarios for Americans. Listen to the stream right now click Dr. Hudson on Guns and Butter
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