It’s wake-up time. For months, there has been a tremendous amount of denial out there. So many of the “experts” assumed that the Federal Reserve and other central banks had everything under control and that things would “return to normal” before too long. But that hasn’t happened.Continue reading Even The Banksters are Being Forced to Admit that the U.S. Economy is Coming Apart at the Seams
Since the creation of the US Federal Reserve over a century ago, every major financial market collapse has been deliberately triggered for political motives by the central bank. The situation is no different today, as clearly the US Fed is acting with its interest rate weapon to crash what is the greatest speculative financial bubble in human history, a bubble it created.Continue reading Global Planned Financial Tsunami Has Just Begun
In thinking through the (for now) gradually unfolding collapse of the American empire, the collapse of the USSR, which occurred close through three decades ago, continues to perform as a goldmine of useful examples and analogies.Continue reading 4 Signposts of American Collapse Which Also Occurred in the USSR
The Fed’s solution to record inflation is based on flawed logic, and US government policy is only compounding supply issues.Continue reading The US is in A Recession and It’s Worse Than You Think
The US economy has shrunk for two consecutive quarters, meeting one of the criteria for a recession, official figures released on Thursday suggest.Continue reading US Plunges into Recession While US Oil Giants Reap Windfall Profits
Understanding of the dollar’s world role is dominated by the ideas of ‘dollar hegemony’ and ‘US hegemony’. In this paper, based on their extensive past work, Radhika Desai and Michael Hudson reveal how these ideas are ideologies, not theories.
They reveal an understanding that is theoretically sound and accords with the historical record, a geopolitical economy of the international monetary system of modern capitalism.
They begin with a theoretical outline of how money operates under capitalism. They then consider how capitalism needs world money and, at the same time, makes its stable functioning difficult.
They then go on to trace the fundamental instability of the modern international monetary systems based on national currencies of dominant countries, from the gold standard to the current volatile and predatory dollar-centred system, and their close connection to short-term and speculative.
“Weak growth in the global economy, low and negative interest rates, the risk of endless stagnation and rising inflation, and prospects for a prolonged recession are, unfortunately, part of the economic reality. Clearly, the globalisation-based financial supercapitalism model, of which the United States was a beneficiary for quite a long time, and which relied on endless lending and financialisation, which turned the commodity markets into financial ones, has run its course.”
– Alexander Losev from the PrefaceValdai-Paper-116
Economists Michael Hudson and Richard Wolff joined CN Live! to discuss the economic war against Russia and its boomerang effect on the West. Does it mean that globalization is over?Continue reading Anti-Russia Sanctions Fallout: A New Bloc Forming Between BRICS and the Middle East
What have we done with the $11 Trillion?Continue reading $11 Trillion U.S. Fiscal & Monetary Spending, A Colossal Theft in Plain Sight
The political consequences of hunger are profound and unpredictable but could be the spark that lights a powder keg of anger and resentment that would make the 2020 Black Lives Matter protests look tame by comparison.Continue reading Rising Food Prices Could Spark Famine, War, and Revolution in 2022
There is now an unprecedented spike in housing costs while COVID-19 has driven down the wealth of the average American.Continue reading Another Housing Crisis in America Is Coming
It was always just a temporary social Darwinist age of pillage and hedonism masquerading as capitalism which could do nothing but collapse by its very nature.Continue reading Guterres and the Great Reset: How Capitalism Became a Time Bomb
The United States cannot afford to maintain a war economy. Such a hyper-militarized economy is inciting dangerous tensions between nuclear powers, as well as eroding the very material foundations of American society.Continue reading With 60 Million Americans Going Hungry, the United States Needs to Make Peace Not War
The Chinese Communist Party (CCP) centennial takes place this week at the heart of an incandescent geopolitical equation.Continue reading The Chinese Miracle, Revisited
For weeks I’ve been predicting Biden would capitulate to the Republican-McConnell proposals on infrastructure, including funding it without taxing corps-investors-wealthy.Continue reading Biden’s $2.3 Trillion Infrastructure Capitulation: Stripped Down to $579 Billion
Capitalism and its inequality is the number one enemy of today’s world. That is the objective and empirical reality that is staring the world in the face.Continue reading Targeting Russia and China Instead of the Real Enemy – Capitalist Inequality
As the geniuses running the western financial bubble sometimes called an “economy” continue to double down on their obsession to pump a dead financial system with ever more trillions in stimulus spending, arguments are raging among brainwashed economists living in denial over the oncoming systemic collapse.Continue reading Lobotomized Economists Clash on the Deck of the Titanic
Whether owing to the distributional effects of government pandemic policies, the recent victory of President-elect Joe Biden, or perhaps just to the hyper-politicization of the modern day, political speech is reacquiring the language accompanying a left turn in policy.Continue reading The Return of the Trickle-Down Ruse
While a civil war is looming in the US, several nations in the Asia Pacific region are silently bringing their economies closer together, and have finally signed the world’s biggest trade agreement ever. This milestone proves that these countries strongly reject the view that a threat of force is the only means of maintaining order in the region.Continue reading RCEP: World’s Biggest Trade Deal Signed While Deep State Brings U.S. Closer to Civil War
It seems that collapse of the institution would destroy global financial system.Continue reading Deutsche Bank Close to Bankruptcy
With the specter of a New Great Depression hovering over most of the planet, realpolitik perspectives for a radical change of the political economy framework we live in are not exactly encouraging.Continue reading Our Grim Future: Restored Neoliberalism or Hybrid Neofascism?
In early 2014 Washington staged a blatant coup d’etat in Ukraine breaking the historic relationship with Russia and setting the stage for the subsequent NATO demonization of Russia. The one in charge for the Obama Administration of the Ukraine coup was then-Vice President Joe Biden.Continue reading Putin and the ‘Biden Memorial Pipeline’ to China
Global policy planners intend to deliver replacements for both dollar hegemony and fossil fuels. Plans may appear uncoordinated and in their early stages, but these issues are becoming increasingly linked.Continue reading The Plan For A Global Dystopia
Unlike its Western “partners”, which force their client states to perpetual capitulation via onerous debt, Russia released the African population from their debt obligation of more than $20 billion and further promised to double its economic cooperation with the continent in the foreseeable future.Continue reading Russia Writes Off More than $20 Billion African Debt
President Trump wants negative interest rates, but they would be disastrous for the U.S. economy, and his objectives can be better achieved by other means.Continue reading The Disaster of Negative Interest Rates
When the central bank for central banks publishes its quarterly review, the world should take note.Continue reading ‘Vaguely Troubling’: BIS Warns Of Disaster Re $17 Trillion Negative-Yield Debt
Conceding that their grip on the economy is slipping, central bankers are proposing a radical economic reset that would shift yet more power from government to themselves.Continue reading Desperate Central Bankers Grab for More Power
For the first time since 2008 the private central bank Federal Reserve has intervened in the money markets due to “unusually high demand for cash,” that sends borrowing costs soaring high, with massive $53 billion repo on Tuesday, and another $75 billion on Wednesday.Continue reading Federal Reserve Intervenes with Massive Repo to Inject Cash into Money Markets
The last combined debt figure was $200+ trillion. Now, a new Wall Street report says it’s actually 2000% of US GDP. Yet, the US government still has maintained its $750 billion annual Pentagon budget. How can the Americans tolerate that?Continue reading Actual US Debt May Be $400 Trillion, or 20 Times GDP | Wall Street Report
What if tomorrow nobody but the United States would use the US-dollar? Every country, or society would use their own currency for internal and international trade, their own economy-based, non-fiat currency. It could be traditional currencies or new government controlled crypto-currencies, but a country’s own sovereign money. No longer the US-dollar. No longer the dollar’s foster child, the Euro. Continue reading The World is Dedollarizing
The story line is going out that the economic boom is weakening and the Federal Reserve has to get the printing press running again. The Fed uses the money to purchase bonds, which drives up the prices of bonds and lowers the interest rate. Continue reading The State of the Economy 2019