back routes and welcome back to the kaiser report thank you very much max all right dr michael hudson you were in an alley where you were treated like a rock star were you there what happened well the italian journalist pilot barnard lighted up four of my colleagues and myself from the university of missouri kansas city to explain the principles of modern monetary theory which is what our university is known for we're sort of me until the first to the university of chicago and our job was to explain to the year or two of your peons in general in the italians in particular that the austerity is not necessary there is no need at all for the government to balance budgets in fact governments are supposed to run a budget deficit that's how they provide the private sector to production in a cut consumption economy with the money in the credit that it needs and the income but it needs to grow basic keynesian policy we also pointed out that when the central bank creates credit runs at levels that is not hyper inflationary what isn't glacial is the commercial banking systems flooding the econo

ups antacid garrett well are out of time but thanks so much for being on the cause report dr michael hudson thank you very much mick and that's going to do it for this edition of the kaiser report with me max kaiser and stacey herbert i was like my guest dr michael eisen we like to send me an e-mail please do so at kaiser reported r t t v are you until next time exercise or saying.

many a time of recovery but today we want to look at what recovery actually names and for whom michael hudson is an economics professor at the university of missouri and joins me now from forest hills new york hey there michael let's take this just out of the jobs numbers who's winning and who's losing right now in this current economy. it's hard to find very many owners if you talk about recovery and the question is what is going to be recovered there's sort of an illusion of jobs go up we're returning to a normal situation but it's not a normal situation and i'll be economy is still having to go up and in fact the same day yesterday. and there were going to be the increased job numbers you had for the first time in four years and see where it went up again not market step because the mortgage market is still going to get one. of the other debts and you kind of get the you know it credit where it gets the employment did go up for the reasons that you mentioned the consumer in term didn't go up let's remained constant so that's not right and the jobs that we're talking about going up there's

. >> for more on the arab league summit, i am joined by michael hudson. thank you for joining us. a serious situation in syria. it is currently ongoing. not a lot of interest from the arab league summit with just half of the leaders in attendance in baghdad. >> it is not that they are not interested in the problem of syria, but there are a lot of problems with iraq itself. the regime now has concentrated power in himself and most of these leaders who are sunni feel like he is treating the suny community badly and is too much under the influence of iran. he is not an honest broker of their opinion and they're making their point by not sending their top leaders. >> a lot of regional gamesmanship taking place right now in this terribly the summit. what about -- in this arab league summit. the developments in syria have gone from bad to worse. what other proposals can they come up with to try to solve the situation? >> the un has endorsed a kofi annan's plan. president assad has also endorsed the plan, but he has not done anything to implement it. it only deals with stopping the viole

and that's going to do it for this edition report with me max kaiser and i was like my guest dr michael hudson and i guess i mean he now plays this out of kaiser reported r t t v are you until next year saying. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize everything you thought you knew you don't know i'm sorry welcome to the big picture. down to your social antti hopefully cation your own phone only pulled touch from the top still. life on the go. video on demand on t.v.'s my old posts and all recessed feeds now in the palm of your. christian. elite limitless .

recovery but we also want to look at what recovery actually means for home earlier i spoke to michael hudson an economics professor at the university of missouri and asked him with these job numbers who's winning and who's losing in the current economy here's his take. if. you talk about recovery and the question is what is going to be recovered there is going to an illusion that is jobs go up we're returning to a normal situation but it's not a normal situation at all the economy is still having debt go up and in fact the same day yesterday. there were going to be in these job numbers you have for the first four years consumer debt went up again. because the markets market is still going to get on. the other debts and you kind of get the you know the proletariat. the employment did go up for the reasons that you mentioned. in consumer intro didn't go up that's remained constant so that's not right as long as the jones is that. going up it's been a shift from the high paying jobs for the last let me get in here right now because we do have a on sort of breakdown of the jobs created and i jus

us certainly a lot going on and a lot more to read than just what the numbers themselves say michael hudson economics professor at the university of missouri. so let's turn now into a complaint that many of the actual job creators home some of the difficulties they face when the idea is there and the money is there but the excess ability always isn't there many companies cite harsh regulations as the biggest barriers to getting their businesses off the ground there are of course environmental regulations and zoning regulations but what about those other laws that are in place while our few correspondent live long looks at the bureaucratic waste that time gets in the way of progress. america once considered the land of opportunity home of the american dream where the entrepreneurial spirit thrives that is all that name of the past now it seems a ridiculous bureaucracy has people jumping through hoops to start a business in the field that makes for a nurse to useless things for no. yes many business owners are finding today tanya edwards and bill mayne own sags in the city and the heart of wa

emergence of a renting a class this is something that you've talked with with steve keen with michael hudson and this is the exact opposite of the capitalism that adam smith said should happen well there should lift the market clear the demand for housing is such that the price should reflect the demand the supply should reflect the demand that the man and supplies supply demand but you know that's not for cam cam or on this isn't good enough for any sort insert himself into the into the market and so you know i know better of the market and i need central planning to help me figure this all out which of course is just putting the economy even more risk i've got five trillion pounds in debt on the books right now and they're going to end. so again the global financial crisis one of the causes of it was the global housing bubble so here he is stoking it again the other element to the global financial crisis was the forex market currency volume surpassed pretty lehman peak bank of international settlement estimates so currency trading may have risen to a record five trillion dollars per day in

and without objection, your request to include the statement by michael horowitz from the hudson institute will be made a part of the record. and like you, i do greatly admire his work as well on behalf of human rights, and today's action is just another discernible manifestation of that deep concern for fundamental human rights in china and everywhere else. so, thank you for your testimony. just to begin the questioning, let mek ms. he, geng he, if i could. you point out in the testimony that gao zhisheng once said that you cannot be a human rights lawyer in china without becoming a rights case yourself. and i would say this as well as to ms. li as well. when we express dissatisfaction with a policy or with our government, we may get an editorial that's damning, we may get, as politicians, we may come under some kind of press scrutiny that we might not welcome, but nothing, nothing that even comes close to the consequences, the deleterious consequences that men and women who promote human rights face in china. i think americans need to become much more aware of the systemic use of torture

michael from hudson, ohio. you know who you are. you got something special.the hour. republican candidate rick santorum making quite a promise on saturday ahead of tomorrow's primary in illinois. >> this is a primary and turnout is everything! you do your job. you do your job. and this is the pledge. if we're able to come out of illinois with a huge or surprise win, i guarantee you, i guarantee you that we will win this nomination. >> joining us now is former pennsylvania senator and 2012 presidential g.o.p. candidate rick santorum. thanks so much for joining us, senator. we heard your pledge. >> thank you, melissa. >> but obviously, the numbers don't quite get you there. right now, mitt romney having 521 delegates. you have less than half of that. so what's behind this pledge that this victory is so key to take you all the w i mean, thisa victory in a state that has, you know, governor romney has an overwhelming advantage in both in demographics, you know, this state is dominated by the city of chicago and the suburban and urban areas which governor romney h

michael depalo who is the director and general manager of the port authority trans hudson corporation. thank you for being here this morning. and we look forward to hearing from each of you as you give us your thoughts and opinions on the grants reform that has been introduced. this bill is on effort by this committee last year and how the grant is -- has been set up. but we recognize that there are challenges and we believe that it is also time for reform. if you could, maybe keep your kmants to two or three minutes and summarize it for the committee. bear in mind that your written testimony will be placed in the record so before i begin with the open testimony, let me recognize mr. price. >> thank you, mr. chairman. i'd like to join with you in welcoming this panel. it's particularly important, i think, to hear from this panel this morning. we are interested in the current grant programs and how they're working and how they can be improved. but we're, of course, especially focused on this new proposal for national preparedness grant program. we discussed this with the administrato a

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