A ceasefire cannot repair a refinery. Reopening Hormuz cannot instantly replace lost diesel or make the next harvest affordable.In this conversation with Brandon Weichert, Michael examines the economic damage that could outlast the fighting—and why governments may face a choice between servicing foreign debts and keeping their economies running.

What good is a country’s creditworthiness if keeping it means shutting down its economy? In this conversation with Robinson Erhardt, Michael examines how an energy shock becomes a debt crisis. His challenge to China is just as pointed: a different world order would require its strongest creditor to accept losses when borrowers cannot pay.

Washington wants South Korea and Japan to bankroll American industry while paying more for energy and American technology. It’s an expensive offer: finance your competitor, inflate your own costs, call it protection.Michael Hudson and Richard Wolff examine an empire that needs its allies’ money—and keeps giving them reasons to leave.

There is a v ery good article by Evgeny Morozov in today's FT, emphasizing how the U.S. progressive movemenet endorsing Trump's U.S. attempt to maintain its postindustrial prosperity by establishing monopoly choke points is reminiscent of how Britain's Labour Party sught to benefit its membership from the predatory takings of British imperialism in the late ...