Professor Hudson, in January you warned in Berlin at the Rosa Luxemburg Conference, about the still “dangerous” US financial imperialism. The US uses “financial weapons”, you said. Can you explain that briefly?
The Green New Deal endorsed by Alexandria Ocasio-Cortez and more than 40 other US Representatives has been criticized as imposing a too-heavy burden on the rich and upper-middle-class taxpayers who will have to pay for it, but taxing the rich is not what the Green New Deal resolution proposes. It says funding will come primarily from certain public agencies, including the Federal Reserve and “a new public bank or system of regional and specialized public banks.”
Calls for a Universal Basic Income have been increasing, most recently as part of the Green New Deal introduced by Rep. Alexandria Ocasio-Cortez (D-NY) and supported in the last month by at least 40 members of Congress. A Universal Basic Income (UBI) is a monthly payment to all adults with no strings attached, similar to Social Security. Critics say the Green New Deal asks too much of the rich and upper-middle-class taxpayers who will have to pay for it, but taxing the rich is not what the resolution proposes. It says funding would primarily come from the federal government, “using a combination of the Federal Reserve, a new public bank or system of regional and specialized public banks,” and other vehicles.
“No policies in human history have more deserved to be recognized as immoral or insane. The story of how this calamitous predicament came about and how and why it has persisted over a half a century is a chronicle of human madness. Whether Americans, Russians, and other humans can rise to the challenge of reversing these policies and eliminating the danger of near-term extinction caused by their own inventions and proclivities remains to be seen. I choose to join with others in acting as if that is still possible.””
As Facebook and Twitter are purging alternative media outlets, a neoconservative operative at a US government-funded think tank says more censorship is on its way. Max Blumenthal and Jeb Sprague discuss how scaremongering over Russia and China is being exploited to silence dissent on social media.
Col. Lawrence Wilkerson says that the main reason for Trump to abandon the Intermediate-Range Nuclear Forces treaty has to do with interests in the administration that would like to see a restarting of the nuclear arms race.
The Roman Catholic Church and the Peoples Republic of China are set to sign an agreement, which would formally end the hostilities between these two entities. The Chinese government will formally acknowledge the Pope as the leader of the Catholic Church in China. In exchange, the Pope will reinstate ex-communicated Bishops selected by the Communist Party to lead Catholics on the Chinese mainland. In this context, it is worth reviewing the shifts and evolutions of Catholicism in global politics.
From Alex Jones to alleged Russian trolls, major internet companies are increasingly policing content on their platforms. Max Blumenthal of the Grayzone Project says the partnership between Facebook and the Atlantic Council highlights “the merger of the national security state and Silicon Valley.”
The apparent assassination of a highly regarded public figure has rocked Ethiopia to its core. Simegnew Bekele, the architect overseeing a prestigious hydroelectric project in Ethiopia, was shot dead last week in the capital Addis Ababa by an unknown attacker. Many people in the Horn of Africa country are now suspecting a foreign hand behind his brutal slaying.
President Trump’s warm words for Vladimir Putin and his failure to endorse U.S. intelligence community claims about alleged Russian meddling have been called “treasonous” and the cause of a “national security crisis.” There is a crisis, says Prof. Stephen F. Cohen, but one of our own making.
Peking University, School of Marxist Studies
May 5-6, 2018
Volumes II and III of Marx’s Capital describe how debt grows exponentially, burdening the economy with carrying charges. This overhead is subjecting today’s Western finance-capitalist economies to austerity, shrinking living standards and capital investment while increasing their cost of living and doing business. That is the main reason why they are losing their export markets and becoming de-industrialized.
Trump’s series of threats this week was a one-two punch. First, he threatened to impose national security tariffs on steel and aluminum, primarily against Canada and Mexico (along with Korea and Japan). Then, he suggested an alternative: He would exempt these countries IF they agree to certain U.S. demands.