"Casino Capitalism": Economist Michael Hudson on What's Behind the Stock Market's Rollercoaster Ride

Black Monday is how economists are describing Monday’s market turmoil, which saw stock prices tumble across the globe, from China to Europe to the United States. China’s stock indices fell over 8 percent on Monday and another 7 percent today. On Wall Street, the Dow Jones Industrial Average initially fell a record 1,100 points before closing down nearly 600 points. The decline also caused oil prices to plunge to their lowest levels in almost six years. To make sense of what’s really behind the fluctuations in the market, we are joined by economist Michael Hudson, president of the Institute for the Study of Long-Term Economic Trends, a Wall Street financial analyst and author of the book, "Killing the Host: How Financial Parasites and Debt Bondage Destroy the Global Economy."

0.0 ·
0
www.democracynow.org
Trending Today
Revolution and American Indians: “Marxism is as Alien to My Culture as Capitalism”
Russell Means24,656 views today ·
15 Powerful Quotes From the World's Most Humble President
Hyacinth Mascarenhas12,011 views today ·
History Tells Us What May Happen Next With Brexit and Trump
Tobias Stone8,029 views today ·
MP Says Government is Intentionally Making People Destitute to Prevent Organised Opposition
2 min6,562 views today ·
Welcome to Marinaleda: The Spanish Anti-Capitalist Town With Equal Wage Full Employment and $19 Housing
Jade Small3,561 views today ·
Every Town Needs a Remakery
Jeremy Williams3,384 views today ·
Today I Rise: This Beautiful Short Film Is Like a Love Poem For Your Heart and Soul
4 min3,133 views today ·
Debating the British Empire's 'Legacy' Is Pointless - This Is Still an Imperial World
Ibtisam Ahmed2,879 views today ·
An Inconvenient Sequel: Truth To Power
3 min2,534 views today ·
Load More
New
Trump is a Symptom of Corporate Globalization
Helena Norberg-Hodge
Up Close and Personal With Norwegian Orcas
2 min
An Inconvenient Sequel: Truth To Power
3 min
Why Did Activists Chain Themselves to the Runway at Stansted Airport?
Plane Stupid
Rosie the Riveter for the 21st Century: You Dreamed, We Drew
Jennifer Luxton
Meet The Woman Rescuing Fruit and Feeding Her Community
2 min
Debating the British Empire's 'Legacy' Is Pointless - This Is Still an Imperial World
Ibtisam Ahmed
9 Times Video Games Were Great for Mental Health
Marijam Didzgalvyte and Jish Newham
What is Populism?
6 min
Load More
What's Next
Embracing Markets, Opposing "Capitalism"
Gary Chartier
Is Capitalism or 'Crony' Capitalism the True Problem?
10 min
It's Not "Corporatism," It's Not "Crony Capitalism," It's Capitalism!
Red Phoenix
Like us on Facebook?
"Casino Capitalism": Economist Michael Hudson on What's Behind the Stock Market's Rollercoaster Ride