> CHRIS HEDGES: We’re going to be discussing a great Ponzi scheme that not only defines not only the U.S. but the global economy, how we got there and where we’re going. And with me to discuss this issue is the economist Michael Hudson, author of Killing the Host: How Financial Parasites and Debt Destroy the Global Economy. A professor of economics who worked for many years on Wall Street, where you don’t succeed if you don’t grasp Marx’s dictum that capitalism is about exploitation. And he is also, I should mention, the godson of Leon Trotsky.
That last sentence was a real surprise to me. Can someone elucidate?
The conversation itself was a sad confusion. Hedges was up to it and Hudson wasn’t able to keep things on track.
the URL: http://www.counterpunch.org/2016/03/25/the-great-ponzi-scheme-of-the-global-economy/
Gene