As stock market crashes, is US facing new financial crisis? Economist Michael Hudson explains
Geopolitical Economy Report
Market Turbulence and Wealth Disparity
This chapter examines the significant fluctuations in the stock market driven by the Major 7 tech companies and highlights the wealth distribution in the US, where the top 10% holds a majority of stocks. It discusses the impact of rising interest rates, the unwinding of the yen carry trade, and various geopolitical tensions on global financial stability. The dialogue raises concerns about whether these developments signal the beginning of a larger economic crisis, particularly for households reliant on the stock market for their pensions and savings.
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