Michael Hudson argues that EU leaders are driving deindustrialisation via asset seizures, a tech war with China and manufactured threat inflation, shifting Europe from social democracy to finance-led militarism.
Stability for Whom?
Two London-based Master’s students in Development Economics speak with Professor Michael Hudson about rentier capitalism, financialisation, and why Britain’s “stability” privileges creditors over productive growth. From Ricardo and the Corn Laws to Thames Water and the City of London, Hudson argues GDP mislabels transfer payments as output, central banks serve commercial banks, and the EU functions as NATO’s economic arm.
The Fascist Protection Racket: Tribute States
Europe has traded self-sufficiency for dependence, submitting to what Michael Hudson calls a fascist protection racket. Allies are transformed into tribute states, forced to pay tariffs or surrender industry. While BRICS nations insulate themselves through self-reliance, Europe accepts deindustrialisation and insecurity under NATO—sacrificing its long-term prosperity for short-term obedience to Washington’s demands.
Trump’s Tariff Wars Hit Europe, Korea & Japan
Trump’s latest economic offensive targets U.S. allies in Europe, Korea, and Japan with tariff hikes, investment shakedowns, and protection-money demands. Germany’s machinery exports face an “existential crisis,” Hyundai’s U.S. plant saw mass deportations, and Japan was forced into a $550 billion payout under threat of commercial chaos. As SCO and BRICS expand alternatives, America’s coercion of its own allies risks sparking nationalist backlash, de-dollarization, and a realignment away from Washington’s control.
Von der Leyen’s Surrender
While European voters were left in the dark, the EU Commission handed Trump everything he wanted — in exchange for a war Europe can’t win.
Europe Just Got Trumped—Again
In a stunning new trade deal, the European Union caves to U.S. demands, exposing deepening economic subordination and strategic dependence. Economist Michael Hudson and political scientist Glenn Diesen unpack how von der Leyen’s capitulation signals the “Ukraineization” of Europe—sacrificing industrial growth, energy security, and sovereignty to prolong a U.S.-led Cold War. As Trump-style dealmaking takes center stage, Europe faces deindustrialization, rising militarism, and political upheaval. Is this the end of European autonomy—or a wake-up call?
Can Europe Survive Its Own Leaders? The War Narrative and Economic Collapse
Europe is at an economic crossroads, facing deindustrialization while its leaders push a militarized agenda. Economist Michael Hudson warns that “military Keynesianism” — the belief that military spending will revive the economy — is driving Europe toward economic ruin. Instead of investing in future industries, Germany and other EU nations are shifting resources into arms production, fueling tensions with Russia. Meanwhile, public sentiment remains opposed to war, raising questions about the EU’s leadership and its alignment with U.S. interests. Can Europe break free from this self-destructive path, or will its economy and unity continue to unravel?
EU Must Trim Welfare to Fund Warfare
Michael Hudson & Richard Wolff reveal the EU’s plight, with desperate leaders throwing their people to the sword. For what?
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. https://www.youtube.com/watch?v=gZ-fvnNEu7o 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. ...
Germany as Collateral Damage in America’s New Cold War
As published in Berliner Zeitung. The dismantling of German industry since 2022 is collateral damage in America’s geopolitical war to isolate China, Russia and allied countries whose rising prosperity and self-sufficiency is viewed as an unacceptable challenge to U.S. hegemony. To prepare for what promises to be a long and costly fight, U.S. strategists made a ...
Escaping the Western Rentier
Cross-posted from Pepe Escobar's The Cradle. It is impossible to track the geoeconomic turbulence inherent to the “birth pangs” of the multipolar world without the insights of Professor Michael Hudson at the University of Missouri, and author of the already seminal The Destiny of Civilization. In his latest essay, Professor Hudson digs deeper into Germany’s suicidal economic/financial ...
The Euro Without German Industry
The reaction to the sabotage of three of the four Nord Stream 1 and 2 pipelines in four places on Monday, September 26, has focused on speculations about who did it and whether NATO will make a serious attempt to discover the answer. Yet instead of panic, there has been a great sigh of diplomatic ...
The new concept of ‘Reform’
In Berlin-Steglitz, last weekend, I spoke at an international financial conference on "The euro at 20: Macroeconomic challenges." There were a number of interviews in German (below). Here is the SNA radio interview (english) with Alexander Boos: German article on US sanctions and Russia German radio interview unsplash-logoRoman Kraft
US NATO pressures EU support
“US-NATO Border Confrontation with Russia Risks Nuclear War and Loss of European Partner,” The Real News Network, July 17, 2017 Michael Hudson says that the US-led confrontational approach of NATO with Russia is driving European countries to consider disbanding or leaving the military alliance due to increased security risks JESSICA DESVARIEUX, TRNN: Welcome to the Real News ...
The Brexit Silence
As published on Counterpunch The media in the United States have treated the British vote against remaining in the European Union (EU) as if it is populist “Trumpism,” an inarticulate right-wing vote out of ignorance at being left behind by the neoliberal economic growth policy. The fact that Donald Trump happened to be in Scotland to ...
Putin: The empty veil of ‘democracy’
As published on Counterpunch. In his Orwellian September 28, 2015 speech to the United Nations, President Obama said that if democracy had existed in Syria, there never would have been a revolt against Assad. By that, he meant ISIL. Where there is democracy, he said, there is no violence or revolution. This was his threat to promote ...
Ukraine falters as per plan
With military stalemate in the east of the country and the economy in serious depression, the regime in Kiev has had to face some very hard realities. And its very survival is in doubt. Losing on the battlefield and the economic front, the Kiev regime is turning in on itself. CrossTalking with Mark Sleboda, Michael Hudson ...
Why No Means Yes
Greece Rejects the Troika. Where Do We Go From Here? Just after 7 PM Greek time on Sunday, I was told that the “No” vote (Gk. Oxi) was winning approximately 60/40. The “opinion polls” showing a dead heat evidently were wrong. Bookies across Europe are reported to be losing their shirts for betting that the ...
