Charge us More

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Trump's claim that China is paying for the tariffs is completely false and basically serves to redirect income from his poor supporters to his wealthy supporters. Not only that, the policy will have the consequence of further isolating the United States, says Michael Hudson. unsplash-logoPang Yuhao

Global Warming and U.S. National Security Diplomacy

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Control of oil has long been a key aim of U.S. foreign policy. The Paris climate agreements and any other Green programs to reduce the pace of global warming are viewed as threatening the aim of dominating world energy markets by keeping economies dependent on oil under U.S. control. Also blocking U.S. willingness to help stem global warming is the oil industry’s economic and hence political power. Its product is not only energy but also global warming, along with plastic pollution. This fatal combination of the national security state’s mentality and oil industry lobbying threatens to destroy the planet’s climate. The prospect of raising temperatures and sea levels along the coasts while inland regions suffer drought is viewed simply as collateral damage to the geopolitics of oil. The State Department is ...

The Instrument of Empire

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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. One of the keynote speakers at this event was Michael Hudson. He had presented on his ...

Even He Can’t Get Away With It

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Trump’s New Tariffs on China Help Pay for his Corporate Tax Cut, TRNN, August 2, 2019, Trump's claim that China is paying for the tariffs is completely false and basically serves to redirect income from his poor supporters to his wealthy supporters. Not only that, the policy will have the consequence of further isolating the United States, says Michael Hudson GREG WILPERT: Welcome to The Real News Network. I’m Greg Wilpert in Baltimore. President Trump announced on Thursday via Twitter that trade negotiations with China have stalled and that he will now impose a 10% tariff on $300 billion worth of goods imported from China. At a rally later in the day on Thursday, Trump said the following. PRESIDENT DONALD TRUMP: I just announced another 10% tariff on $300 billion worth of ...

Negative Interest, Debt Jubilee?

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An interview with Max & Stacy on their Double Down Radio show. Click through to listen on Sputnik News. As interest rates head into negative territory and Greek debt yields less than US Treasury debt, DOUBLE DOWN asks economist and historian, Dr. Michael Hudson if any economic theory has ever suggested negative interest rates. Not since back to the Bronze Age does he recall anything like this being suggested. That’s because, for thousands of years, economic beings have chosen to hold debt jubilees. Negative rates achieve that a bit slower but they do the same thing eventually by bringing the volume of savings on the asset side of the balance sheet down to the volume of debt that can be repaid. Hudson believes rates will quickly go as negative as 25% ...