BEN NORTON: Hey everyone, this is Ben Norton of Multipolarista. Iâ€™m joined by one of my favorite guests today, the brilliant economist Michael Hudson. And there are a lot of things that we plan on talking about today.
Weâ€™re going to address the partial student debt relief in the United States, and the problem of debt, which is something that Professor Hudson has written a lot about.
Weâ€™re going to talk about the inflation crisis, and some of the history of responses to the inflation that weâ€™ve seen in the US. For instance, Iâ€™m going to pick Professor Hudsonâ€™s brain about Richard Nixonâ€™s response. Nixon imposed price controls and froze wages for the first time since World War Two.
Weâ€™re also going to talk about the history of the Volcker shock, when Paul Volcker, who was the head of the Fed, raised interest rates to a level never seen before.
Weâ€™re going to talk about neoliberalism. Iâ€™m going to ask Professor Hudson about comments that French President Macron made about the â€œend of abundance.â€
And Iâ€™m going to ask Professor Hudson about disaster capitalism in Ukraine. Ukraineâ€™s leader Zelensky just did a virtual bell ringing to open the New York Stock Exchange, and announced $400 billion of giveaways to foreign corporations, mostly US corporations, who are salivating to get access to Ukraineâ€™s assets.
And then finally, Iâ€™m going to ask Professor Hudson about the challenge of the petrodollar that China has been carrying out,