The Capitalists Are Afraid

Capitalists seek to maximize profits and reduce the cost of labor. This sums up capitalism at its core. It is defined by these immutable objectives. It is not about democracy. It is not, as has been…

Can the American Economy Be Resurrected?

“Lenin said that capitalists would sell the Communists the rope to hang them. But as matters turned out, capitalists let China sell them the labor that served to hang American capitalism.” — Michael Hudson I…

What Globalism Did Was To Transfer The US Economy To China

The main problem with the US economy is that globalism has been deconstructing it. The offshoring of US jobs has reduced US manufacturing and industrial capability and associated innovation, research, development, supply chains, consumer purchasing…

Will China Trigger Next Financial Tsunami?

With the US decision to impose added tariffs on more than $300 billion of China trade, and the US Treasury declaring China a “currency manipulator”, global financial markets have reacted with sharp selling. The question…

The Coming Savings Meltdown

Debts that can’t be paid, won’t be. That point inevitably arrives on the liabilities side of the economy’s balance sheet. But what of the asset side? One person’s debt is a creditor’s claim for payment….

De-Dollarizing the American Financial Empire

Imperialism is getting something for nothing. It is a strategy to obtain other countries’ surplus without playing a productive role, but by creating an extractive rentier system. An imperialist power obliges other countries to pay…