Economist Michael Hudson on inflation and Fed plan to cut wages: A depression is coming

Economist Michael Hudson explains the inflation crisis and the US Federal Reserve's austerity program to reduce wages. The discussion explores the impact on different socio-economic groups and the role of the oil industry, agricultural monopolies, and military-industrial complex. It also compares central bank policies and economic systems, highlighting China's approach. A discussion on the recent G7 Summit, the proposal of an excess profits tax, and the US government's pressure on African nations is included.