The U.S. sanctions regime isn’t just aimed at Russia—it’s hitting Europe, American allies, and even domestic producers like NVIDIA. Economist Michael Hudson explains how Washington’s Cold War policies are accelerating deindustrialization, inflating deficits, and destabilizing the dollar. As the U.S. reveals itself yet again as a full-blown war economy, foreign investors retreat, global reserves pivot to gold, and social spending faces the axe. The real battle isn’t abroad—it’s economic class war at home, waged under the banner of military supremacy and deficit theater.

Two Dolls, One Empire explores the unraveling logic of late-stage U.S. empire through the lens of tariffs, supply chains, and political theatre. With sharp commentary from Michael Hudson and Richard Wolff, the piece dissects how performative policy—like Trump’s Marie Antoinette–style dismissal of Chinese imports—masks deeper economic decline and rising global irrelevance. As countries recalibrate trade and reject transactional brinkmanship, irreversible shifts are underway. From manufacturing realignments to voter backlash in Europe, the costs of empire’s delusions are mounting. This is a must-read for economists, policy-watchers, and anyone tracking the fault lines of global economic power.