Persian Powerplay

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Cross-posted from The Saker: Introduction: After posting Michael Hudson’s article “America Escalates its “Democratic” Oil War in the Near East” on the blog, I decided to ask Michael to reply to a few follow-up questions. Michael very kindly agreed. Please see our exchange below. Q1: Trump has been accused of not thinking forward, of not having a long-term strategy regarding the consequences of assassinating General Suleimani. Does the United States in fact have a strategy in the Near East, or is it only ad hoc? Of course American strategists will deny that the recent actions do not reflect a deliberate strategy, because their long-term strategy is so aggressive and exploitative that it would even strike the American public as being immoral and offensive if they came right out and said it. President Trump ...

America Escalates its “Democratic” Oil War in the Near East

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The mainstream media are carefully sidestepping the method behind America’s seeming madness in assassinating Islamic Revolutionary Guard general Qassim Suleimani to start the New Year. The logic behind the assassination was a long-standing application of U.S. global policy, not just a personality quirk of Donald Trump’s impulsive action. His assassination of Iranian military leader Suleimani was indeed a unilateral act of war in violation of international law, but it was a logical step in a long-standing U.S. strategy. It was explicitly authorized by the Senate in the funding bill for the Pentagon that it passed last year. The assassination was intended to escalate America’s presence in Iraq to keep control of the region’s oil reserves, and to back Saudi Arabia’s Wahabi troops (Isis, Al Quaeda in Iraq, Al Nusra and other ...

Front Running

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Transcript FRONT RUNNING: 2020 MAX KEISER: Front Running: 2020 with me, Max Keiser, and Stacy Herbert. As we look ahead to all the excitement of the 2020 elections, every episode we dig deep into something new. This time we're going to look at the wealth tax, Stacy. STACY HERBERT: That's right. We're looking at all the economic policies being presented by the Democratic candidates. Many of them are very radical. Bernie Sanders, says, "Billionaires should not exist." And to find out whether or not they should. We have guests with us. Dr. Michael Hudson, and Prof. Steve Keen. Steve, we'll start with you first. PROF STEVE KEEN: Well, I have a very complicated position on this because part of my research is into Minsky, what's called the Financial Instability Hypothesis, that explains ...

Baltic perspectives with The Saker

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Cross-posted from The Saker Introduction: I recently spoke to a relative of mine who, due to her constant and voluntary exposure to the legacy of AngloZionist media, sincerely believed that the three Baltic states and Poland had undergone some kind of wonderful and quasi-miraculous economic and cultural renaissance thanks to their resolute break with the putatively horrible Soviet past and their total submission to the Empire since. Listening to her, I figured that this kind of delusion was probably common amongst those who still pay attention and even believe the official propaganda. So I asked Michael Hudson, whom I consider to be the best US economists and who studied the Baltics in great detail, to reply to a few very basic questions, which he very kindly did in ...

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 ...

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% ...