On August 5, the stock market crashed on a new "Black Monday." What caused it? Is the US on the brink of a new financial crisis? Ben Norton and economist Michael Hudson discuss extreme volatility, the AI/Big Tech bubble, the unwinding of the Japanese yen carry trade, the Chinese economy, and geopolitical dangers.

Watch the Geopolitical Economy Hour, the program Michael Hudson co-hosts with Radhika Desai, here: https://youtube.com/playlist?list=PLDAi0NdlN8hMl9DkPLikDDGccibhYHnDP

His website: https://michael-hudson.com

subjects
0:00 Teasers
0:54 Why did the stock market crash?
8:19 Is the US economy slipping into a recession?
12:36 Japan and the yen carry trade dissolve
27:14 China's economy
32:41 Is the AI/Big Tech bubble about to burst?
46:05 Geopolitics: Russia, Ukraine, Israel, Iran
54:19 Inflate the bubble again?
1:03:51 Can't the debt be extended?
1:07:27 Asset price inflation vs. consumer price inflation
1:11:29 Capital gains grow faster than the economy
1:13:12 What is missing in most economic analyses?
1:26:05 Outro

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