Michael Hudson explains why rising interest rates, oil shocks and war spending are pushing the U.S. economy towards a debt crisis.
He argues that today’s inflation is not wage-driven but rooted in energy disruption, financialization and a debt-leveraged economy that can no longer borrow its way out of trouble. Yet the stock market has continued to rise as have interest rates. The stock market cannot stay high without crashing the real estate markets.
Read/watch Michael Hudson
