How the United States is using oil, technology, transportation and the dollar system to rebuild its declining global power.
An Economy of Unearned Wealth
Michael Hudson explains how finance, monopoly and economic rent have captured government, inflated asset prices and weakened the productive economy.
The K-Shaped Collapse of the US Economy
Michael Hudson and Radhika Desai explain how Trump’s MAGA economy rests on war, debt, asset bubbles and a shrinking real economy.
The Desperate Defense of Dollar Empire
Michael Hudson and Richard Wolff argue that the confrontation with Iran cannot be understood as another isolated Middle Eastern crisis. It is part of a wider struggle over oil, trade routes, dollar reserves and the survival of the Western-controlled financial order.
Gold Returns as Trust in US Debt Fades
Michael Hudson and Kathleen Tyson explain why central banks are moving away from US debt, how China is building a physical gold system, and whether gold will restrain war or become its next prize.
The Dollar Trap Is Breaking
Michael Hudson and Richard Wolff argue that the Iran crisis reveals a deeper shift: US military power, dollar dominance and Western control are all weakening.
How the Federal Reserve Learned to Love Bubbles
Michael Hudson and Radhika Desai examine Alan Greenspan’s legacy at the Federal Reserve, the rise of central bank independence, the repeal of Glass-Steagall, and the transformation of US monetary policy into a machine for protecting Wall Street bubbles rather than productive investment. They argue that the Fed’s easy-money regime has inflated asset prices, weakened the real economy, and left the dollar system exposed to another financial crisis.
How Slave States Blocked America’s Industrial Credit System
Michael Hudson explains how the slave states’ defence of states’ rights reached far beyond slavery itself, shaping U.S. monetary and banking policy for more than a century. By opposing national banking, paper credit, federal reinvestment and industrial development, Southern slave interests helped impose a hard-money regime that constrained American growth until the creation of the Federal Reserve in 1913.
