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There are growing signs that the United States may be on the verge of another major financial crisis, one that could start in the $3 trillion private credit market, which is already seeing significant turmoil, before spreading to other sectors.
Geopolitical Economy Report editor Ben Norton interviewed economist Michael Hudson to discuss the serious problems on Wall Street. Hudson warned that the US economy is built on a Ponzi scheme that depends on continuing to pour money into a bloated, bubbly financial system based on unsustainable speculation, not industrial production.
Check out our related short video about the private credit crisis on Wall Street: https://www.youtube.com/watch?v=S1cx9Zk6WZk
Topics
0:00 Introduction
1:37 Highlights of Michael Hudson
3:29 Interview starts
4:18 2008 financial crisis
5:04 Zero interest-rate policy (ZIRP)
7:31 Private equity
9:17 Lack of investment
10:34 Wealth inequality
12:08 Debt defaults
14:10 Depression fears
16:12 US govt supports Wall Street
19:07 Ponzi schemes
23:51 US economic problems
27:35 Iran war impact
30:16 Financialization of economy
33:46 Outro
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Our heroes are their enemies and their heroes are our enemies. Who decides which heroes we honor? Who decides what films we will watch? Who decides who we will look up to? Who decides whose statues stand on our campuses, whose stories are told on screen, and whose images shape the minds of our children?In this powerful conversation, Ɔbenfo Ọbádélé Bakari Kambon breaks down the politics of soft power, from the Gandhi Must Fall movement at the University of Ghana to the deeper question of why Black people must choose, honor, document, and project our own heroes.This discussion moves through statues, murals, film, Kmt, Nana Amanirenas, Nana Malcolm X, Nana Nat Turner, Nana Yaa Asantewaa, Nana Marcus Garvey, Nana Kwame Nkrumah, Nana Thomas Sankara, Nana Patrice Lumumba, Nana Harriet Tubman, Nana Jean-Jacques Dessalines, and the ongoing work of building institutions that tell our stories for ourselves.The message is clear: those who control images control minds. If we want our stories told truthfully, we must document our own grandmothers, grandfathers, artists, builders, freedom fighters, healers, teachers, and visionaries.Learn more about the mural project: https://www.abibitumi.com/traoreLearn more about repatriation support:https://www.r2gh.comWatch and upload Black-centered content:https://www.abibitumitv.comJoin the Abibitumi community:https://www.abibitumi.comTopics covered:Gandhi Must Fall, soft power, statues, Black heroes, Abibifahodie Film Festival, Ibrahim Traoré mural, Black storytelling, Kmt, Abibitumi, repatriation, documentaries, Ghana, Burkina Faso, cultural memory, and why we must give our people their flowers while they are still here.Hashtags:#abibitumi #blackpower #abibifahodie #gandhimustfall #blackheroes #africanfilm #ghana #burkinafaso #repatriation #blackstorytelling #softpower #kmt #abibitumitv
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