The consolidation of the Russia-China alliance this week spells the endgame for Western imperialism and the never-ending wars that it spawns.
In this wide-ranging discussion on the Moderate Rebels podcast, Hudson addresses US sanctions on Venezuela and Iran, the policies of the Joe Biden administration, Beijing’s economic model, cryptocurrencies, and dedollarization – the potential end to the dollar as the global reserve currency.
Nearly half a millennium ago Niccolo Machiavelli’s The Prince described three options for how a conquering power might treat states that it defeated in war but that “have been accustomed to live under their own laws and in freedom: … the first is to ruin them, the next is to reside there in person, the third is to permit them to live under their own laws, drawing a tribute, and establishing within it an oligarchy which will keep it friendly to you.”
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.
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.
Throughout the established political structures within the United States, there has been an extensively documented amount of accounts concerning the particular activities of the state apparatus in terms of what transpires on the national borders between the two nations of Mexico and the United States. Within the course of current events, the considerable amount of discourse regarding what would constitute an appropriate reaction to the perpetuation of circumstances on the national border has exponentially increased in the course of years (given various electoral occurrences, socioeconomic degradation, cultural responses to societal denigration, and the political activities which originate because of these cultural responses in question). In terms of acceptable discourse, the political conflict that has emerged directly from the various policies of the United States on the national border, which included but is not limited to intensified national surveillance to familial separation to deportation to mass incarceration to stricter border security apparatuses, has seemingly been confined to whether or not the United States should be focused on inclusion or exclusion to integration or segregation to opportunities or the absence thereof.
Black Agenda Report Presents: The Left Lens on Aug 17, 2020
In the fourth of the Left Lens, co-hosts, Danny Haiphong and Margaret Kimberley discuss why Donald Trump’s re-election is not as unlikely as the Biden/Democratic Party let on. Also, Danny and Margaret discuss just some of the reasons we should oppose the U.S.’ New Cold War against China.
With the unabated march of the Covid-19 pandemic, the economic situation of Colombian coffee farmers is rapidly deteriorating. The price of Arabica coffee has reduced to an exceptionally low $0.9 per pound in June. Earlier, coffee production had fallen by 28% in April, 12% in March, 9% in February and 19% in January. Specialty coffee farmers too are experiencing difficulties in the form of shortage of experienced coffee pickers. In specialty coffee, coffee cherries are picked at the peak of ripeness. But with the absence of expert pickers, “Coffee cherries left on the tree will over-ripen or fall to the ground, effectively nullifying all the additional work put into the coffee to achieve the higher quality.” This labor shortage has been partly caused by the pandemic-necessitated closure of Colombia-Venezuela border which has significantly blocked the flow of Venezuelan migrants. 1.8 million Venezuelan migrants reside in Colombia and their contribution to Colombian coffee sector is indispensably important with nine out of ten coffee pickers in Colombia being Venezuelans.
So President Trump, the self-declared business genius, wants to cut off the whole relationship with China and “save America $500 billion a year”. That’s what he told Fox News this week in an interview referring to the US trade deficit with China. The fault of the chronic US trade deficit with China (and much of the world), like that of the Covid-19 crisis in America, is classic 3-D Trump: dissembling, distracting and dealing in guilt-projection.
The US-led NATO alliance this week designated a whole new hemisphere to itself for “security” operations. No longer merely an “Atlantic” organization, it’s assuming the role of policing the Pacific. Quite a self-promotion.
So, Canada, the Canadian people unfortunately are deprived of honest representation of provincial desires, provincial needs, by the fact that the financial sector, the banks, are pretty much running the country.” – Michael Hudson
On the weekend of July 19-21st, 2019, the University of Manitoba became the venue for the 14th Forum of the World Association for Political Economy (WAPE). This annual event represents a gathering of Marxist economists from around the globe, and aims to utilize current understandings on the subject to analyze and study the world economy, reveal its laws of development, and offer policies to promote economic and social progress on national and global levels.
Keynote Paper delivered at the 14th Forum of the World Association for Political Economy, July 21, 2019.
Today’s world is at war on many fronts. The rules of international law and order put in place toward the end of World War II are being broken by U.S. foreign policy escalating its confrontation with countries that refrain from giving its companies control of their economic surpluses. Countries that do not give the United States control of their oil and financial sectors or privatize their key sectors are being isolated by a United States imposing trade sanctions and unilateral tariffs giving special advantages to U.S. producers in violation of free trade agreements with European, Asian and other countries.
President Trump has threatened China’s President Xi that if they don’t meet and talk at the upcoming G20 meetings in Japan, June 29-30, the United States will not soften its tariff war and economic sanctions against Chinese exports and technology.