On finance, real estate and the powers of neoliberalism
Here I present The Destiny of Civilization to a Chinese audience via the Global University of Sustainability. It's in 4 Parts, originally presented in 2022. https://www.youtube.com/watch?v=HAC4gGRAJ3Q https://www.youtube.com/watch?v=3hzYUE_VV-Y https://www.youtube.com/watch?v=UBgUIUgGZsg https://www.youtube.com/watch?v=CCMaxnmxaxw Image by 畅 苏 from Pixabay
https://www.youtube.com/watch?v=CkQCSPM2QUY Danny: Greetings everyone. have two very special guests today. is the first conversation of a series that we will be having on The Left Lens leading into the one year anniversary of the official beginning — or at least what the mainstream may say is the beginning — of the Ukraine proxy war — really the beginning of Russia's special military operation — but we're gonna have great conversations here. And our first two guests are two premier economists. They are Radhika Desai, who is a friend of the show and former guest, as well as Michael Hudson, also a friend of the show and prior guest. They also are doing a podcast together on Geopolitical Economy Report bi-weekly (every two weeks). You can catch their books in the links in the description ...
https://www.youtube.com/watch?v=ZhZbB0jjDTM In this episode of Geopolitical Economy Hour, economists Radhika Desai and Michael Hudson discuss inflation: what it is, what causes it, and what are the problems in how the Federal Reserve and other central banks respond to it. Transcript RADHIKA DESAI: Hello, everyone. Welcome to the second Geopolitical Economy Hour. I’m Radhika Desai. MICHAEL HUDSON: And I’m Michael Hudson. RADHIKA DESAI: Thanks to all our viewers for making our inaugural show such a success. As many of you know, in this collaboration with Ben Norton’s Geopolitical Economy Report, Michael and I will present every two weeks a discussion of the major developments and trends that are so radically and rapidly reshaping the world order. Issues that involve not just politics and economics but, rather, as Michael and I like to put it, political economy, and, as my 2013 ...
Germany has become an economic satellite of America’s New Cold War with Russia, China and the rest of Eurasia. https://www.youtube.com/watch?v=E_zY44YClCY The article this talk was based on: Germany and other NATO countries have been told to impose trade and investment sanctions upon themselves that will outlast today’s proxy war in Ukraine. U.S. President Biden and his State Department spokesmen have explained that Ukraine is just the opening arena in a much broader dynamic that is splitting the world into two opposing sets of economic alliances. This global fracture promises to be a ten- or twenty-year struggle to determine whether the world economy will be a unipolar U.S.-centered dollarized economy, or a multipolar, multi-currency world centered on the Eurasian heartland with mixed public/private economies. President Biden has characterized this split as being between ...
Is the proxy war in Ukraine turning out to be only a lead-up to something larger, involving world famine and a foreign-exchange crisis for food- and oil-deficit countries? Many more people are likely to die of famine and economic disruption than on the Ukrainian battlefield. It thus is appropriate to ask whether what appeared to be the Ukraine proxy war is part of a larger strategy to lock in U.S. control over international trade and payments. We are seeing a financially weaponized power grab by the U.S. Dollar Area over the Global South as well as over Western Europe. Without dollar credit from the United States and its IMF subsidiary, how can countries stay afloat? How hard will the U.S. act to block them from de-dollarizing, opting out of the U.S. ...
Boos German Interview June 1, 2022 "Taken from an interview with the newly founded German magazine "ViER" which will be published in August 2022." ViER (FOUR), stands for the media as fourth power in checks and balances). (1.) Prof. Hudson, your new book "The Destiny of Civilization" is out now. This lecture series on finance capitalism and the New Cold War presents an overview of your unique geo-political perspective. You talk about an ongoing ideological and material conflict between financialized and de-industrialized countries like United States against the mixed-economies of China and Russia. What is this conflict about and why is the world right now at a unique "point of fracture" as your book states? Today’s global fracture is dividing the world between two different economic philosophies: In the US/NATO West, ...
But nobody thought that it would happen this fast. Empires often follow the course of a Greek tragedy, bringing about precisely the fate that they sought to avoid. That certainly is the case with the American Empire as it dismantles itself in not-so-slow motion. The basic assumption of economic and diplomatic forecasting is that every country will act in its own self-interest. Such reasoning is of no help in today’s world. Observers across the political spectrum are using phrases like “shooting themselves in their own foot” to describe U.S. diplomatic confrontation with Russia and allies alike. For more than a generation the most prominent U.S. diplomats have warned about what they thought would represent the ultimate external threat: an alliance of Russia and China dominating Eurasia. America’s economic sanctions and military ...
The U.S. aim is to keep them from trading with China and Russia The Iron Curtain of the 1940s and ‘50s was ostensibly designed to isolate Russia from Western Europe – to keep out Communist ideology and military penetration. Today’s sanctions regime is aimed inward, to prevent America’s NATO and other Western allies from opening up more trade and investment with Russia and China. The aim is not so much to isolate Russia and China as to hold these allies firmly within America’s own economic orbit. Allies are to forego the benefits of importing Russian gas and Chinese products, buying much higher-priced U.S. LNG and other exports, capped by more U.S. arms. The sanctions that U.S. diplomats are insisting that their allies impose against trade with Russia and China are ...
On 22-24 November 2019, International Seminar on Land, Finance, and De-dollarization was held in Macau, China, which was co-organized by Global University for Sustainability, Lingnan University, Southwest University, and the Federal University of Espirito Santo. 20191124 Michael Hudson – Dollar Recycling and De-Dollarization My book “Super Imperialism” was about how the United States has gained a free lunch by establishing the dollar as international reserve currency by replacing gold. I also showed that the U.S. balance of payments deficit is almost entirely military related to support its 800 bases around the world. Ending the gold-exchange standard in 1971 created a situation in which the excess U.S. dollars thrown off by the U.S. payments deficit end up in foreign central banks. For these central banks, the inflow of surplus dollars poses the problem of ...
The Democrats’ Quandary To hear the candidates debate, you would think that their fight was over who could best beat Trump. But when Trump’s billionaire twin Mike Bloomberg throws a quarter-billion dollars into an ad campaign to bypass the candidates actually running for votes in Iowa, New Hampshire and Nevada, it’s obvious that what really is at issue is the future of the Democrat Party. Bloomberg is banking on a brokered convention held by the Democratic National Committee (DNC) in which money votes. (If “corporations are people,” so is money in today’s political world.) Until Nevada, all the presidential candidates except for Bernie Sanders were playing for a brokered convention. The party’s candidates seemed likely to be chosen by the Donor Class, the One Percent and its proxies, not the voting class ...
