A market is going to shrink and shrink and so we look like greece looks up in the last 5 years the think of the normal slipping away groups that if lation and rent this lady should be ok stephen well im really glad that michael brought up the 2008 financial crisis as we have a reputation a reputation about it and it in this year where this was a artificially induced recession benefited the one percent you cant not keep stressing that year but what 202020 in 2008 have been common is that you have this massive transfer of wealth upward again upward again ok and so again i mean my underlying theme in this whole program is that half the country liberate speaking specifically about the United States that michaels reference to greece is a perfect one i think youre basically writing off tens of millions of people america hundreds of millions of people in the western more heads yeah i mean to do the work which sane. Is a process where the wealthy who go will they go through debts and this is s
It appears what is called the case shaped recovery is permanently dividing the country and to haves and have nots and this seems to be acceptable for those who are the house. To discuss this and more im joined by my guest Michael Hudson in new york is a professor of economics at the university of missouri kansas city and author of through give them their debts and in bangkok were joined by steve keen hes a crowdfunding professor of economics on a tree on as well as a distinguished Research Fellow of the institute for strategy resilience and security of University College london gentlemen crossed up rules in effect that means you can jump in anytime you want and i always appreciate it ok let me go to michael in new york you know this just term the new normal. Bandied about and what really worries me is the people that use the new normal where its a normal that is beneficial to them ok and theyre not particularly concerned about it ok because i hear more and more talk read more and more
It ok because i hear more and more top read more and more about a cave recovery and that is that in michigan a defeat in my in my opinion because it means the if you have the k. Its the the leg of the k. Youve given up on ok because the other part. Of the economy its true because its that in their benefit here i really worry when people talk about new normals and when they talk about the economy youre my friend well who has become normal since 2008 has been completely different from the old normal people have the normal youre go back to a balance but really the economy hasnt grown at all since the 2008 crisis all of the growth in g. D. P. All of the growth in wealth has accrued to the Financial Sector to the real estate sector to the one percent for the 99 percent oh theyve gone down and down and down so the new normal is you cant get rich again by hanging out. And joining the middle class like you goes through the new normal has all of the year increase in wages in service in rents an
Today we are hosting our First Virtual congressional military family summit, and we are excited that all of you have joined us. We would prefer to gather in person. However, this way we have more people than ever that are joining us. So there is an advantage to doing this virtually, and we have a great lineup. We have a great agenda. We just appreciate anyone who has taken the time that is helped organize and going to offer perspectives. Our goal is to make sure that we are knowledgeable and ready to advocate on your behalf. So thank you everyone thats been involved in making this happen. I want to do a special thank you to everyone in georgia and Washington State, the military leaders that have joined us, and military men and women that are currently serving. So a big thank you, a big thank , you to your service. It was great to meet mac. You told me shes in the military because she believes in freedom, and i was just reflecting that when i think about military men and women. I think
Swe rves unpredictable. There will be more swerves a nd unpredictable. There will be more swerves and hand weights. It is here recovering from covid 19. That is just in the last few seconds. Let me also tell you that for the long term and we will have to remain flexible about how we live the 35 year old striker will now and how we live with this virus i went through it, now they say i am otherwise we will really struggle. Immune. I feel so fat powerful. Miss, asa the 35 year old striker will now miss, as a result of that, wednesdays Uefa Nations League game i went through it, now they say i am immune. Ifeel so fat powerful. I will walk in there. I will kiss involving portugal and sweden. He is eve ryo ne will walk in there. I will kiss everyone in that audience. I will kiss everyone thank you to you too. In that audience. A p pa re ntly involving portugal and sweden. He is apparently well and has no symptoms and, President Trumps nominee for the Supreme Court, Amy Coney Barrett is abou