Wow. Dr. Michael Hudson airs it all out on Guns and Butter 4/26/10

[c1ue]

http://noliesradio.org/archives/12354

(iFrame attempts all failed miserably)

Some excerpt quotes:

"He's [Bernanke] what you call a 'useful idiot'. He misinterprets the Depression in the way that neo-classical and monetarist economists normally re-interpret it."

"If only prices for real estate would have been higher. If only all these people out of work would have had to pay 5 times as much for their housing as they did, if only wages would have been much lower than they actually were, and if only - well if only a few million people would have died much quicker - if people would have been paid cheaper, we would have gotten out of the Depression much quicker. That's Garbage, that's Crazy."

"That is what led the labor unions and most Democrats to have utter contempt for President Obama. No Republican could have gotten by with appointing such a right wing extremist such as Mr. Bernanke to the Fed. It takes a someone with friendly face and a Democrat to pursue a right wing policy that the Republicans could not have gotten away with. That essentially is what Obama and Bernanke is doing. The Obama plan is to lower wages by at least 25% in the United States and to put the class war back in business."

"Its as if he [Bernanke] were the marketing department of a commercial bank, not interested in the economy as a whole, or what I just said was Economy 101. Not increasing production. Not increasing wages. Just increasing bank profits."

"He's [Obama] now building up now military bases now in South America for a war in South America, and this is driving South America into a bloc with Asia in response"

"If there's only so much wealth to go around, the banks have to wipe out the savings of most people in order for them to get what's left over. That's basically the Obama economic plan.

Is this what happened in the 30s? {Faulkner}

Yes, this is how it works"