Killing the Host

Killing the Host

How Financial Parasites and Debt Bondage Destroy the Global Economy

Book - 2015
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"The financial sector has succeeded in depicting itself as part of the productive economy, yet for centuries banking was recognized as being parasitic. The essence of parasitism is not only to drain the host's nourishment, but also to dull the host's brain so that it does not recognize that the parasite is there. This is the illusion that much of Europe and the United States suffer under today. The aim of this book is to pierce this illusion and replace junk economics with economics based on reality. In Killing the Host, Michael Hudson argues that financial crises will continue unless we radically transform our economic and political structures, and reclaim the best ideas of classical economics. Ominous, yet clear-eyed and prophetic, Hudson provides viable solutions to our economic problems, at a time when politicians have shown themselves unable to understand our economy much less fix it" --
Publisher: Germany :, ISLET-Verlag,, 2015.
ISBN: 9783981484281
Characteristics: vi, 435 pages : illustrations ; 25 cm

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RBVanDyke
Dec 22, 2016

At the core of Hudson's book is the transition from industrial capitalism to finance capitalism. In the former instruments of credit are used to finance production; in the latter instruments of credit become products sold for their own sake.

The result is that indebtedness of individuals and societies has become the product. That in turn places multiple drains on a productive economy.

You may not agree with Hudson's perspective but you should most definitely read this book.

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StarGladiator
Oct 31, 2015

http://www.counterpunch.org/2015/10/22/killing-off-community-banks-intended-consequence-of-financial-reform-failure/
// Hardest hit, however, are the community banks. Today there are 1,524 fewer banks with assets under $1 billion than there were in June 2010, before the Dodd-Frank regulations were signed into law. \\

Simply the best book written on capitalism and economics.
The movie by Michael Lewis, The Big Short, is technically correct, but this book is required to fully understand not only everything, but really just how very simple that enormous super-wealth transfer was: the banksters who created all those flakey CDOs, also took out so-called insurance policies on them [credit default swaps, or CDSes], which meant that the banksters got the money from peddling those CDOs or credit deratives, then further got the money from the CDSes on them, as the Fed and the US Treasury pumped out all that money to keep them afloat as no financial firm had those trillions on hand to pay off on!
Much like a car dealer sells you a real lemon of an auto, then THEY take out multiple insurance policies on YOUR auto they sold you - - utterly fraudulent, which the entire situation was: the largest insurance swindle in human history!

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