Sunday, October 9, 2011

Michael Hudson on the Spreading Occupy Wall Street Movement

Here are some comments by Michael Hudson on the demonstrations:

I agree with Hudson that Obama is in the pocket of the big banks. But I don't believe that Obama has a "plan to cut wages by 30%". This is Hudson pushing his own ideological viewpoint. There is no evidence for this. If you want an honest critique of the Obama administration, read Ron Suskind's Confidence Men. One of the strengths of the Occupy Wall Street movement is that it has avoided getting co-opted by existing political groups right or left. Hudson is trying to sell you a hard left view. While much of what Hudson says is true, some of it is exaggeration. Dealing with politics is like walking in a mine field. Sadly political groups are cynical and manipulative. They will lie to sell you their viewpoint. You need to be cautious and test ideas against what you know and what your friends tell you.

For more background:

No comments: