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Saturday, November 17, 2012

Is The "Fiscal Cliff" A Fiction?


John Weeks: The fiscal cliff has simply been created by Congress in order to push austerity which is no solution during a recession.

TRANSCRIPT:

PAUL JAY, SENIOR EDITOR, TRNN: Welcome to The Real News Network. I'm Paul Jay in Baltimore.

Well, the election was hardly minutes old when the news media was already talking about the coming fiscal cliff. Well, just what is it, and who supposedly is about to go over it?

Now joining us from London to talk about all of this is John Weeks. He's a professor emeritus at the University of London School of Oriental and African Studies. He's an author of the books Capital, Exploitation and Economic Crisis and a soon-to-be-released book, The Economics of the One Percent. He's the founder and contributor to JWeeks.org. Thanks for joining us again, John.

JOHN WEEKS, PROF. EMERITUS, SCHOOL OF ORIENTAL AND AFRICAN STUDIES (SOAS): Well, thank you for inviting me.

2 comments:

Anonymous said...

Socialist goofball - believes financial institutions should be owned by the government. Proponent of a "Social Democratic Political Economy."

Anonymous said...

oh, yeah, total fiction! Just borrow more, and print money to pay the interest again! Woo Hooo! Nothing will happen!