Recover Signed Us State with airSlate SignNow

Recover signed us state

okay how and why the us cannot recover is the u.s a failed state this is our uh lecture for today and i'm betsy bowman uh your host for today's program uh for those who are unfamiliar with us the center for global justice or in spanish el centro para la justicia global is a multinational and bilingual research center located in san miguel de allende mexico in the center of mexico the center is devoted to research and learning for a better world and for empowering a solidarity economy due to the pandemic we have discontinued our in-person events and we've instituted online webinars without our previous revenue generating programs we now depend on your donations to support these webinars and to be able to continue to pay our mexican staff you can donate at our website which is www.globaljusticecenter.org today is the 84th webinar in our series um today's program is how and why the us cannot recover and is it a failed state we are pleased to have as our guest speaker professor michael hudson professor michael hudson identifies himself more as a classical economist like adam smith than anything else he in his major work super imperialism the economic strategy of american empire just out in its third edition he describes the outflow of u.s dollars to non-u.s producers you know all the countries that we people in the u.s buy from as in effect once the dollars have gone out for the purchase of goods they are then returned to the u.s treasury as foreign central banks um who are holding all of these u.s dollars from purchases made with us dollars to buy u.s treasury bills and bonds with all these excess dollars foreign countries hold these u.s treasury bills and bonds as reserves it also allows the us to spend these monies that go out come back on yet more military goods thus encircling the so-called enemy countries such as china and using their own money to do it and they are actually quite aware of this even though most americans are not china russia and other countries are moving to de-dollarize their economies unlike most economists hudson emphasizes uh two things that are very important the dangers to an economy of exceptional exponentially growing debt the role of debt in an economy and the difference between earned and unearned income unearned income such as the income that hedge fund managers and ceos that when they make billions of dollars a year obviously they're not earning that by working he would tax away what he calls roncier wealth from unearned income and he sees the world conflict today as being between industrial capitalism and a low cost economy versus what we have in under neoliberalism finance capitalism with monopoly profits going to the raunchy class so those are two of the most important uh novel additions of his thought to economic theory professor hudson is distinguished research professor of economics at the university...