Saturday, March 21, 2015

Uber economist Michael Hudson tells us in plain words why European countries are rushing to join the Asian Infrastructure Investment Bank. Hint: The World Bank presses everywhere for privatization of public utilities and basic infrastructure, and then makes loans to the governments to develop these infrastructures, after which they sell them cheap to American buyers, who will create monopolies and turn those infrastructures into a rent extraction machines squeezing out interest, dividends, and management fees, all of which are paid to the Americans.

                                                                                         Original Here

Europe Tilts East Towards China (1/2) 

Michael Hudson Report: Britain, Germany, France and Italy are among those who joined Asian Infrastructure Investment Bank in an expression of their discontent over World Bank polices that force developing countries to depend on the US - March 20, 2015

Bio                                                                                                                                      .

Michael Hudson is a Distinguished Research Professor of Economics at the University of Missouri, Kansas City. His two newest books are The Bubble and Beyond and Finance Capitalism and its Discontents. His upcoming book is titled Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy.

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