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Michael Hudson

  • U.S. Economic Warfare and Likely Foreign Defenses

    Unlike medieval serfdom, people subject to this End of History scenario can choose to live wherever they want. But wherever they live, they must take on a lifetime of debt to obtain access to a home of their own, and rely on U.S.-sponsored control of their basic needs, money and credit by adhering to U.S. financial planning of their economies. This dystopian scenario confirms Rosa Luxemburg’s recognition that the ultimate choice facing nations in today’s world is between socialism and barbarism.

  • Trump’s Trade Threats are Really Cold War 2.0

    Trump’s trade tantrum is that other countries are simply following the same economic strategy that once made America great, but which neoliberals have destroyed. U.S. negotiators are unwilling to acknowledge that the United States has lost its competitive industrial advantage and become a high-cost rentier economy.

  • Monetary Imperialism

    The most destructive fiction of international finance is that all debts can be paid, and indeed should be paid, even when this tears economies apart by forcing them into austerity. Yet European countries, and especially Germany, have shied from pressing for a more balanced global economy that would foster growth for all countries and avoid the current economic slowdown and debt deflation.

  • The New Global Financial Cold War

    That’s how Germany industrialized and how the rest of Europe did. Bit the aim of the Trans-Pacific Partnership is to reverse and privatize public investment. Its ideology is that the economy should be owned and operated by private owners, private enterprise, whose aim is short-term profit.

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