Michael Hudson challenge

This is Michael Hudson. The man worked for citybank, Rockefeller, the us govt, the Canadian govt. and currently is professor of econ at Minnesota. The mans ideas are revolutionary and indeed a revolution did begin because of them. But that revolution has been erased. I challenge any here to watch this video, or any of the other interviews on YouTube, on his views on economy, socialism; etc, and tell me he’s wrong. I guarantee it will change how you think of those topics.

I listened to the interview, and I would say he's 100% correct...if I were a Marxist.

His assertion that landlords are born into wealth is too generalized to be factual. There are plenty of working stiffs that are landlords, and these people pump a lot of revenue back into the economy. According to Hudson, landlords take all their profit and hide it under their mattresses. That's unrealistic.

Increased taxation of the wealthy stifles motivation and innovation. It kills competition and generates monopolies. It removes incentive for hard work; in fact, a person is penalized (taxed) for it. In a perfect world, his plan might work for perhaps 10 or 15 years to increase cash flow through government to improve and maintain infrastructure and provide better social programs. But after a while, people that desire to work hard and earn money for their hard work will take their business offshore where they don't get penalized.

If Hudson applied his philosophy to gardening, he would mow everything (grass, flowers, and shrubs) at the same height. After a few short weeks, only grass and moss would be growing because that's all that can survive when it's cut that short.

Moreover, effectively increasing taxation of the wealthy to make life better for everyone relies on governmental processes that are properly accountable to the people--which is not the case. Corruption is rampant. An example of this is the passage of legislation that permits operation of casinos in a given city or state: one of the big selling points to obtain Yes votes is "we'll give a large portion of the revenue to the schools." Not hardly. The large portion of revenue disappears into the pockets of the very politicians (and their business cronies) that lobbied for the casinos.

We would do much better to flush the toilets in government and give control back to the people--where it's supposed to be. Get rid of the corruption and graft, and we would see a 30-40 percent increase in funding that that could be used for doing good things for the people.

"Tax the rich" is pie-in-the-sky thinking, and is a temporary band-aid fix at best.

A point of Hudson's I agree with is how interest groups change language to control the public's thought processes in order to advance their agendas. This at epidemic proportions today; social media and the demise of true journalism are the perfect vehicles for it.

the real problems are in the banking sector and fiat currency where actual value isn't tied to a real asset driving asset cost out of reach of working individuals

bankers are the problem