SteveG


Economist Michael Hudson discusses the decline of the US dollar, the sanctions war on Russia, his concept of “free-trade imperialism,” and financial parasitism.

The Multipolarista channel on YouTube has the video Economist Michael Hudson discusses the decline of the US dollar, the sanctions war on Russia, his concept of “free-trade imperialism,” and financial parasitism..

We talk about these concepts explored in his new book “The Destiny of Civilization: Finance Capitalism, Industrial Capitalism or Socialism.”

The book is to go on sale on May 11,2022.


At this point, I don’t know whose predictions will turn out to be more correct. Only time will tell. Meanwhile we are all hostage to what our government will bring to our future. Are you going to do anything to protect yourself, or are you all-in on the USA?


Zionism in Ukraine allied with Nazism – the history of the ‘Great Reset’

Vanessa Beeley has posted the interview Zionism in Ukraine allied with Nazism – the history of the ‘Great Reset’.

How does Israel and one of the largest and most powerful Ultra Orthodox Zionist cults merge with Ukrainian nationalism and state-sanctioned Nazism? – Conversation with historian Matt Ehret We look at the emergence of the Chabad Lubavitch sect that was established before Zionism came into existence and has its origins in Ukraine – now with 10,000 emissaries in 100 countries at the cutting edge of Zionist expansionism. This group is believed to be responsible for the majority of the price tag attacks in occupied Palestine, denies the right to return for all Palestinians and leads the ideological war against non adherents of Judaism.

This had my mind boggled for much of it, even though I have read many things that corroborated what they were saying.

One of the things that I have read about that they did not address was the fact there were Zionists who appreciated what the Nazis were doing to the Jews because the Zionists felt it would justify the creation of a Jewish state in Palestine.


The Different Ways That the U.S. and Chinese Governments Use Their Power to Regulate Capitalism

Richard Wolff has published the article The Different Ways That the U.S. and Chinese Governments Use Their Power to Regulate Capitalism.

However, the socialist left does so with the knowledge of what happened to those experiments in socialism that turned out to be and still are forms of state capitalism. Hopefully, 21st-century socialism will not need to repeat those experiments. It can attend to what they lacked, namely the transition at the micro level of workplace organization. That means transitioning enterprises (factories, offices, and stores) from the employer-versus-employee organization to the democratic community (or worker cooperative) organization. The state that achieves that transition will thereby accomplish the end of the capitalist social order. With it might then come that decline of a social necessity for the state that Vladimir Lenin theorized as its “withering away.”

This is a good explanation of a point of view. Since I am a “what worksist”, I always want to know if something will work before I endorse it. So far, I see what Wolff proposes as an interesting idea, but I don’t know if it will work. The safest way that I can think of testing it is for the scheme to be enabled (remove roadblocks to its trial), and continue to monitor the results to see if it works or can be made to work.

Right away, I see a problem with applying democracy. It seems to be human nature, observable right now, that a small number of zealots can use democracy to get their way over the objections of a larger number of people who can see nuances of good and evil in any system. Maybe a solution to the zealot problem can be discovered by philosophers in the 21st century.


Fadhel Kaboub: Free Trade Isn’t Free: Food Sovereignty And Why It Matters

The MMT Podcast with Patricia Pino & Christian Reilly has this great episode #131 Fadhel Kaboub: Free Trade Isn’t Free: Food Sovereignty And Why It Matters.

Here is is from YouTube #131 Fadhel Kaboub: Free Trade Isn’t Free: Food Sovereignty And Why It Matters.

Patricia and Christian talk to economist and President of the Global Institute For Sustainable Prosperity Professor Fadhel Kaboub about how global food and energy systems have been fostered to benefit the global north at the expense of the global south, and how understanding modern money is vital to untangling the mess.


Another great interview with Fadhel Kaboub. The more I listen to the podcasts the more details I learn about the topic. Don’t expect to learn everything by listening to only one podcast.

What has always worked to enhance my learning about any subject is to get some exposure to the topic by reading a book, listening to a lecture, listening to a podcast. In between listening, think about what you have learned, develop questions about what you didn’t understand, and then go back to a source for more information. You get more out of it each time you have put some thought to it, and have a deeper appreciation for what you are hearing.

When I talk about developing questions that is the opposite of just accepting what you hear. Maybe upon first listening, you think you have understood, but I don’t think you really understand until you notice there are holes in your understanding.


Ellen Brown: The Coming Global Financial Revolution: Russia Is Following the American Playbook

Sheer Post has the article Ellen Brown: The Coming Global Financial Revolution: Russia Is Following the American Playbook.

No country has successfully challenged the U.S. dollar’s global hegemony—until now. How did this happen and what will it mean?

I am not a particular fan of Ellen Brown, but I think this article by her is pretty decent. It also has some links I might want to follow if I haven’t already seen the referenced article.

Here is one of the links Michael Hudson: The American Empire self-destructs. I am a huge fan of Michael Hudson. He is the original thinker that other people refer to.


Peeing in the Economists’ Pool

Matt Stoller has posted the article Peeing in the Economists’ Pool.

Antitrust Division chief Jonathan Kanter told a roomful of fancy lawyers and economists that their day of controlling the law through tricky language is over.

Matt Stoller gives you some details of how the corporations and the courts have twisted the anti-trust laws into something with loopholes big enough to drive a monopoly through. If there were any non-corrupt leaders in any of the branches of government, this should have been stopped decades ago. One economist, Michael Hudson, focuses on how the financialization of the USA economy is eventually going to make the USA a losing economy. This is not just an academic argument. The 99% of us are going to be hurt badly if this continues.


Super Imperialism: The Economic Strategy of American Empire with economist Michael Hudson

Moderate Rebels has the podcast Super Imperialism: The Economic Strategy of American Empire with economist Michael Hudson.

Economist Michael Hudson discusses the update of his book “Super Imperialism: The Economic Strategy of American Empire” and the financial motivations behind the US new cold war on China and Russia.

Hudson has published a new, third edition of his book Super Imperialism that updates his analysis for the 21st century, discussing the new cold war on China and Russia and the ongoing transition from a US dollar-dominated financialized system to a “multipolar de-dollarized economy.”

Hudson explains how the strategy of US economic hegemony has evolved since World War One.

I have read this book recently. This interview gets to the heart of the book rather well. The only thing more I would like to hear is a discussioin of how Modern Money Theory (MMT) relates to this discussion. Michael Hudson is also a strong proponent of MMT. However, MMT focuses on the independence of a country that is sovereign in its own currency. The USA has the strongest monetary soevereignty that there is, yet “Super Imperialism” discusses the arm twisting the USA has to do to make it sovereignty stick in the international theater. I would like to hear Michael Hudosn address these aspects in a single interview.


Ray McGovern – Veteran Intelligence Professionals for Sanity – Russia & Ukraine

Forthright Media has posted the audio Ray McGovern – Veteran Intelligence Professionals for Sanity – Russia & Ukraine.

Ray McGovern earned a Masters’ degree with honors in Russian Language, Literature and History from Fordham University. In the early 1960s, he served as a US Army Infantry Intelligence Officer in the analysis division on Soviet foreign policy, especially with respect to China and Indochina, which includes Vietnam, Cambodia, Laos, Burma, and Thailand.

I haven’t heard Ray McGovern’s analysis of the Ukraine situation before, but I have listened to him many times on related and unrelated topics. He always sounds very reasonable and knowledgeable.


The Dollar Devours the Euro

Michael Hudson has the post The Dollar Devours the Euro.

It is now clear that today’s escalation of the New Cold War was planned over a year ago. America’s plan to block Nord Stream 2 was really part of its strategy to block Western Europe (“NATO”) from seeking prosperity by mutual trade and investment with China and Russia.

This sounds dire. I have built up a lot of trust in Michael Hudson, but not quite enough to put my investment money where his predictions are. Actually, I suppose I do have some hedge investments that should serve me in case these predictions come true.


The Secret Plot To Unleash Corporate Power

Matt Stoller has the Substack article The Secret Plot To Unleash Corporate Power.

There aren’t that many actual conspiracies in politics, but this is a real one. In 1980, influential thinkers advising the incoming Reagan administration were trying to figure out how to repeal antitrust laws and unleash unfettered monopoly power. They realized that repealing the law outright would be unpopular, and that Congress wouldn’t like it. So they decided to repeal the antitrust laws, de facto, by doing it quietly through administrative action.

I keep trying to make people aware of this. Now Matt Stoller has assembled a nice article that does the job.