Episode 446

Max Keiser and Stacy Herbert examine stories about those who - using spoof trades, bogus securities and fictitious capital - steal real wealth and income. They discuss how it is that every benchmark index is rigged and introduce the concept of the ‘bonus benchmark’. In the second half, Max talks to Dr. Michael Hudson, author of The Bubble and Beyond, about debt and wage deflation and about the intersection of interest rates and wages going back to David Ricardo when wages were measured against the price of bread to today when they are measured against the price of debt.