As stock market crashes, is US facing new financial crisis? Economist Michael Hudson explains

The stock market crashed on August 5, in a new "Black Monday". What caused it? Is the USA on the verge of a new financial crisis? Ben Norton is joined by economist Michael Hudson to discuss the extreme volatility, AI / Big Tech bubble, Japanese yen carry trade unwind, Chinese economy, and geopolitical dangers.

Topics
0:00 Teaser
0:54 Why did the stock market crash?
8:19 Is the US economy entering a recession?
12:36 Japan and the yen carry trade unwind
27:14 China's economy
32:41 Popping of the AI / Big Tech bubble?
46:05 Geopolitics: Russia, Ukraine, Israel, Iran
54:19 Re-inflating the bubble?
1:03:51 Can't the debt be rolled over?
1:07:27 Asset price inflation vs consumer price inflation
1:11:29 Capital gains grow faster than the economy
1:13:12 What is missing from most economic analysis?
1:26:05 Outro

|| Geopolitical Economy Report ||

[Sanchyfab]

It’s starting to feel like we could be heading into another financial crisis, like in 2008. I’m really worried about what this could mean for the economy and our investments

[teatree]

Hence we know now why China deflated their housing bubble and the speculative chinese stock markets last year. They have good vision

[moniqueboyke]

Great video Ben Norton with professor Michael Hudson

[raouledjoo]

Michael Hudson, you are a Legend ❤️. Thank you for all your teachings!

[jeffreycheng]

"The Federal Reserve System is not Federal; it has no reserves, and is not even a system at all. But rather an international criminal syndicate."- Eustace Mullins.

[tlynnkyle]

The people are the ones who will suffer. I find myself checking your page daily for information. ❤
This is the scariest post of all. 😢

[luizamorim]

2, 500 years of Feudalism...having been born & raised in Brazil, this is an idea I can understand very easily... Congrats to Prof Hudson for being so generous as to explain all that to us..
❤😢

[pauldeman]

Go Michael Hudson go! One of the few great economist of our time! The other ones plays on Wall Street. For Hudson truth and fairness is what counts. I learn so much with his books and videos. Thank you so much.

[BR-gzcv]

Great guest- please have Mr. Hudson on as of YAA possible. The man is not only brilliant but a voice of truth in a world of constant deception. Anytime Michael Hudson speaks- he’s speaking truth to power.

[rc]

I can listen to Michael all day long, in this era of fake news Michael's speech is always refreshing

[Beastmaster]

It's time to get rid of the oligarchy my people.

[WalkingSideways]

Michael is the absolute goat economist of today. He explains things in a way that even clueless me can understand. Thank you Ben & Michael! 👍🏽

[julians]

The genius Michael Hudson! Always learn from the genius

[wahtonglee]

Without petrodollars USD is now proven to be hollowed out!

[azharidris]

The US is facing a financial crisis you said.. that's an understatement.. it's facing a banana republic status

[chunlingtong]

Ben, thank you very much - from my mei mei 😊 I hope you will have Prof. Hudson more often, ALONE. One can learn tremendously from him and he's always spot on. Thanksss again

[JoseLopez-ysoz]

United States (US) “democracy” has become a stock market affair. But if 93% of stocks are owned by only 10% of US citizens, can the stock market be used to indicate how well the US economy is? Is democracy best exemplified by US’ neoliberalism or China’s socialism? 38 million Americans live in poverty, 60% live from paycheck to paycheck, and only 33% are satisfied with our government. Moreover, while the US claims to support Taiwan’s inalienable right to self-determination and independence, it has, however, consistently refused to comply with 42 United Nations’ resolutions demanding that it immediately return Puerto Rico’s sovereignty to the Puerto Ricans. Is this proof that the US is the champion of democracy? China, on the other hand, has eradicated poverty since 2020 despite having 4 times the US’ population, 90% of Chinese are satisfied with their government, and China, unlike the US, believes in win – win relationships among all nations. The US government doesn’t care about 99% of its own citizens. The US and Israel, both artificial colonial settler states that have committed genocide, have provoked the impending regional war in West Asia. Will the US and Israel decide to go nuclear? Most rational nations would never do that, but the US and Israel are pathologically irrational! The Doomsday Clock has now gotten even closer to midnight!

[ronaldoferreira]

This Channel goes beyond most. From Democracy Now to Grayzone/Novara Media/Dialogue Works...
The answer is: Political Strengh.
Thank you.
#LONGLIVERESISTANCE

[yingxu]

Thanks Ben have professor Micheal come on to the show。I learn more today about the US market

[fredganoe]

I hold two graduate business school degrees, including a PhD. This was the best economics course in a mere hour-and-a-half that I have ever had. Thank you, gentlemen.

P.S. I've had to try to Unlearn a lot of what I "learned" in b-school.