Recent Posts by Michael

All Of Our Wealth Has Been Coming From You

Nima interview July 12 2024 World Shaking Up! Epic Political & Economic Earthquakes, Dialogue Works, July 12, 2024. NIMA ROSTAMI ALKHORSHID: Michael, let's get started with the SCO summit. And right after that, we're having the NATO summit. It seems that NATO is fighting on behalf of the United States to try to preserve the U.S. unipolar hegemony over Eurasia and the Global South, isn't it? MICHAEL HUDSON: Well, for the last few months, we've been discussing how the United States and its allied Western neoliberal economies have driven the non-Western world, the global majority, into protecting themselves and breaking away. And they've been developing a whole array of how they're going to go about splitting. It's the Shanghai Cooperation Organization (SCO) that has outlined in the last week or so ...

NATO Focus: From Defensive to Offensive

Geopolitical Economy Report #30 NATO vs voters: How the West's warmongering threatens democracy and the Global Majority. July 12, 2024. RADHIKA DESAI: Hello and welcome to the 30th Geopolitical Economy Hour, the show that examines the fast-changing political and geopolitical economy of our time. I'm Radhika Desai. MICHAEL HUDSON: And I'm Michael Hudson. RADHIKA DESAI: And working behind the scenes to bring you our show every fortnight are our host, Ben Norton, our videographer, Paul Graham, and our transcriber, Zach Weisser. We record this show as NATO leaders have gathered in Washington, D.C., to mark the 75th anniversary of NATO. The occasion, planned more than a year ago, was to be grand, for sure, though much has changed in the past year, and the rhetoric has, as a consequence, come to sound rather grandiloquent, ...

Gold as the Peace Currency

By Permalink Recorded June 8, 2023 Karl Fitzgerald: Welcome everyone to another Patreon Q&A session. Great to have you here. And as always, we're with Professor Michael Hudson, author of so many books, so many podcast interviews, you name it, he's out there telling us what's going on in the world and it's great that we get to have this sort of behind the scenes discussion with Michael. Good to see questions coming through on the Q&A feed already. And Michael, John Shriner asks, how is it possible that a 72 foot cube of gold appears to be ruling the world? Michael Hudson: It doesn't rule the world. Why would anyone think it rules the world? It's how it's treated. That is the key it's an institution, it's not just a commodity, no commodity rules ...

The Need for a New Political Vocabulary

The July 4 landslide defeat of the neoliberal pro-war British Conservatives by the neoliberal pro-war Labour Party poses the question of just what the media mean when they describe the elections and political alignments throughout Europe in terms of center-right and center-left traditional parties challenged by nationalist neo-fascists. Political differences between Europe’s centrist parties are marginal, all supporting neoliberal cutbacks in social spending in favor of rearmament, fiscal stringency and the deindustrialization that support of U.S.-NATO policy entails. The word “centrist” means not advocating any change in the economy’s neoliberalism. Hyphenated-centrist parties are committed to maintaining the pro-U.S. post-2022 status quo. That means letting U.S. leaders control European politics via NATO and the European Commission, Europe’s counterpart to America’s Deep State. This passivity is putting its economies onto a war footing, with ...

Kleptocracy is Us

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US Cryptocurrency as an Offshore Banking Center 
The Wall Street Journal ran a revealing op-ed today (June 14, 2024) by Paul D. Ryan, “Crypto Could Stave off a U.S. Debt Crisis.”

Mr. Ryan, libertarian Republican House Speaker 2015-2019 and now at the right-wing American Enterprise Institute, writes that: “Stablecoins backed by dollars provide demand for U.S. public debt and a way to keep up with China.” He reports that “According to the Treasury Department and DeFi Llama, a
cryptocurrency analytics site, dollar-based stablecoins are becoming an important net purchaser of U.S. government debt.” If the stablecoin fund was a country, it would be in “the top ten of countries holding Treasuries – smaller than Hong Kong but larger than Saudi Arabia.” So the result of officially promoting them “would be an immediate, durable increase ...

Agricultural Imperialism in the EU

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A new monthly column for German newspaper Berliner Wochenende. Ever since World War II, U.S. trade strategists have based their international policy on control of two key commodities: oil and grain. Economically, they have been the mainstay of the U.S. balance of payments, the leading categories of export surplus (along with weapons), especially as the U.S. economy has deindustrialized. And politically, these are basic needs of every economy. U.S. diplomacy has sought to make other countries dependent on American grain. In the 1950s, most notably, U.S. opposition to Mao’s Communist revolution in China sought to impose a grain embargo on that country. But Canada broke the sanctions – creating good will for decades. U.S. trade strategists have sought to promote grain dependency on U.S. farmers by opposing foreign attempts to achieve grain ...

The Black & White of Elite Imperialism with Jill Stein

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Fighting Russia & China to Last American: Destroying US From Within Dr. Jill Stein & Michael Hudson 
 NIMA ROSTAMI ALKHORSHID: Today we're going to talk with Dr. Stein, 2024 presidential candidate in the United States and her policy advisor, Professor Michael Hudson. And we're going to talk about Ukraine, Taiwan, Israel, and domestic policy in the United States. And so let's get started with the conflict in Ukraine. Michael, how do you find the current face of the war in Ukraine? How do you find the policy of the Biden administration? It seems that they want to continue this war in Ukraine. How do you find it so far? MICHAEL HUDSON: Well, despite the pretense that somehow Ukraine can still win, they know that the Ukrainians have already lost. The Russians ...

Owing the US a Living?

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Living within your means is considered a virtue in many cultures, with one notable exception – the United States, whose public debt grows by roughly a trillion dollars every 100 days and is projected to continue doing so for the next few decades. In the past, it helped to sustain the so-called American lifestyle, but the benefits of this seemingly endless ballooning for ordinary citizens are much less apparent now. How much longer can the United States exist on the assumption that the world owes it a living? To discuss this, Oksana is joined by Michael Hudson, Distinguished Research Professor of Economics at the University of Missouri. Image by MeditativeKaleidoscope from Pixabay

Universities as Tentacles of the Police State

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“Have you no sense of decency?” The recent Congressional hearings leading to a bloodbath of university presidents brings back memories from my teen-age years in the 1950s when everyone’s eyes were glued to the TV broadcast of the McCarthy hearings. And the student revolts incited by vicious college presidents trying to stifle academic freedom when it opposes foreign unjust wars awakens memories of the 1960s protests against the Vietnam War and the campus clampdowns confronting police violence. I was the junior member of the “Columbia three” alongside Seymour Melman and my mentor Terence McCarthy (both of whom taught at Columbia’s Seeley Mudd School of Industrial Engineering; my job was mainly to handle publicity and publication). At the end of that decade, students occupied my office and all others at the New School’s ...

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