America’s global power depends on a strategy of “containment” towards China. Containment is just a euphemism for aggression, hostility and confrontation. And such a strategy is bound to fail.
NATO and various columnists employed by major U.S. newspapers and “think” tanks believe that military spending levels should be measured in comparison to nations’ financial economies. If you have more money, you should spend more money on wars and war preparations. I’m not sure if this is based on opinion polls in Afghanistan and Libya expressing gratitude for war as a public service or some other source of data less imaginary.
In The Foundations of Leninism, Stalin concluded that “the chain of the imperialist front must, as a rule, break where the links are weaker and, at all events, not necessarily where capitalism is more developed, where there is such and such a percentage of proletarians and such and such a percentage of peasants, and so on.” In other words, the potential for proletarian revolution is increased more by the weakening of capital in a given country than by any other aspect of the material conditions.
Oxford Economics Society on Jan 23, 2021
Nearly 50 years after the original publication of “Superimperialism”, Michael Hudson revisits how the lucrative dollar-based economic system that the US set up after WWII has evolved with the rise of China and the Covid-19 pandemic. What financial weapons is the US likely to use, and does China’s de-dollarisation protect it from such attacks?
theAnalysis-news on Dec 23, 2020
Allied with landlords and monopolists, the finance sector is extracting economic rents from the economy that’s impoverishing US government, industry and labor says Michael Hudson discussing the chokehold of pro-finance, pro-rentier capitalism reaching into the present COVID-19 crisis.
with Chris Hedges
RT America on Dec 5, 2020
On the show this week, Chris Hedges talks to Fabian Scheidler about how the global economic machine came to dominate our lives, and with looming social upheavals caused by predatory capitalism, what can be done to blunt its destructive power.
Britain’s sorry excuse for a leader, Boris Johnson, has proudly announced the biggest spending spree on the nation’s military in 30 years. This comes as the country is reeling from disease, a healthcare crisis and economic misery for millions of workers.
Why is the global capitalist class refusing to give up neoliberalism, even as neoliberalism creates growing dissension among the lower classes and rising risk of proletarian revolution? Because in a paradigm where profits have overall been declining since the 1970s, neoliberalism serves as the way for the rich to push the costs of capitalism’s crises onto the backs of the poor. Neoliberalism was implemented because the 20th century model of social welfare states had become incompatible with the capitalist goal of endless growth.
theAnalysis-news on Nov 2, 2020
Trump’s economic policies have not addressed the fundamental forces that have gutted industrial jobs under the administrations of both parties, says economist Michael Hudson on theAnalysis.news podcast with Paul Jay.
In 1937, the storyteller H.P. Lovecraft wrote this about the direction that capitalism was taking:
“Capitalism is dying from internal as well as external causes, and its own leaders and beneficiaries are less and less able to kid themselves…The only avenue of survival for plutocracy is a military and emotional fascism whereby millions of persons will be withdrawn from the industrial arena and placed on a dole or in concentration camps with high sounding patriotic names. That or socialism—take your choice. In the long run it won’t be the New Deal but the mere facts of existence which will be recognized as the real and inevitable slayer of Hooverism.”
RT on Oct 7, 2020
It remains unclear who will be the occupant of the White House next January. What can be easily predicted is the state of the economy for tens of millions of citizens. It appears what is called a K-shaped recovery is permanently dividing the country into the haves and have-nots. And this seems to be acceptable for those who are the haves!
The world’s 85 richest individuals possess as much wealth as the 3.5 billion souls who compose the poorer half of the world’s population, or so it was announced in a report by Oxfam International. The assertion sounds implausible to me. I think the 85 richest individuals, who together are worth many hundreds of billions of dollars, must have far more wealth than the poorest half of our global population.
Socialist Project – Left Streamed
August 23, 2020
This film is very much not a utopian vision of the future. In fact, the very different strategies of utopian and materialist thinking for imagining the future are discussed in the first part of the film. Instead of a utopia, the film presents a wide variety of issues, suffering and problems experienced by people, whose common source is the capitalist system itself. It then presents a vision of how things could be very different in each case, without the systemic priorities of the world capitalist system. This gives us a very different viewpoint upon ecology, technology and human flourishing.