The Unz Review - Mobile
A Collection of Interesting, Important, and Controversial Perspectives Largely Excluded from the American Mainstream Media
by  
Email This Page to Someone

 Remember My Information



=>
Topics Filter?
Wall Street Federal Reserve Neoliberalism Housing Unemployment China Reprint Eurozone Japan Debt Free Trade Greece Banking System Russia Minimum Wage Immigration Poverty Dollar Donald Trump Financial Sector Euro Washington Consensus IMF Privatization Radio Interviews Business Trade Latin America Financial Crisis TV Ukraine American Media Economic Theory Oil 2016 Election Iceland Latvia The Insiders Economic Dictionary EU Financial Bailout Gold Inequality Land Ancient Near East Capitalism Banking Industry Deregulation Global Warming Max Keiser Obama Ben Bernanke Boeing Brazil Britain Manufacturing Obscured American Oil Industry Rentier Australia Financial Times Tax Cuts American Military Brexit Syriza Financial Bubbles Government Stimulus Ireland Mexico Paul Krugman Social Security Deficits Imperialism Taxes Timothy Geithner Alan Greenspan Argentina Banks Germany Goldman Sachs Hillary Clinton Inflation Meritocracy Real Estate American Debt Bubble & Beyond China/America Democratic Party Globalization Government Debt Iran Iraq Michael Hudson Norway Student Loans Technology Barack Obama BRICs Conservative Movement Economics Financial Debt Unions Vioxx Animal Rights Canada Class Warfare Consumer Debt Currency Speculation Cyprus Detroit France Government Surveillance Henry Paulson Joseph Stiglitz Lehman Brothers Madoff Swindle Marx Meat MMT Money Supply Nobel Prize Silicon Valley Trade Surplus 2008 Election Academia American Pravda Auto Loans Bear Stearns Bolivia Catholic Church Chicago School Classical Economics Empire Environment Globalism Government Spending Gregory Clark Harvard India Infrastructure Israel Lobby Korea Larry Summers Low Wages National Debt Obamacare One Percent Police State Radio Interview Republicans Review Scotland Sony Spain Switzerland Tax Terrorism World War II 2012 Election Airports American Default Apple Auto Industry Automation Baltimore Riots Benjamin Netanyahu Blacks Cell Phones Charles Murray Chile China Stock Market Meltdown Cockburn Family Corruption Cover Story David Petraeus David Stockman Defense Budget Dick Cheney Dominique Strauss-Kahn Dubai Economic History Finance Fossil Fuels George Soros Google Gordon Brown Government Shutdown Great Recession H-1B Hugo Chavez Income Tax Israel Italy Jeff Sommers Labor Las Vegas Letter Type Michigan Middle East Neocons North Korea Nuclear Weapons Outsourcing Pollution Public Schools Renegade Economists Republican Party Rupert Murdoch South China Sea Supply-Side Economics Tax Evasion The Economist Thorstein Veblen TPP TTIP USA Walmart White Americans Workers Working Class YouTube
 Economics ArchiveMost Recent
h2b-511x372
One usually doesn’t think of fashion models as skilled workers. President Donald Trump, married to a former fashion model, would beg to differ. And a good test of his commitment to patriotic immigration reform will be his willingness to persuade Congress to repeal legislation enabling foreign models to work here. That law is a part... Read More
Introduction: The Financial Times’ Special Report (2/16/2017) published a four-page spread on the ‘use and possible dangers of artificial intelligence (AI)’. Unlike the usual trash journalists who serve as Washington’s megaphones on the editorial pages and political columns, the Special Report is a thoughtful essay that raises many important issues, even as it is fundamentally... Read More
shutterstock_295193366
Finance as Warfare: The IMF Lent to Greece Knowing It Could Never Pay Back Debt
SHARMINI PERIES: The latest economic indicator showed that the Greek economy shrank by 0.4% in the last three months of 2016. This poses a real problem for Greece, because its lenders are expecting it to grow by 3.5% annually, to enable it to pay back on its bailout loan. Greece is scheduled to make a... Read More
shutterstock_573393316
Introduction By the end of the first month of President Trump’s Administration we are in a better position to evaluate the policies and direction of the new President. An examination of foreign and domestic policy, particularly from a historical and comparative perspective will provide insights about whether America is heading for a catastrophe as the... Read More
shutterstock_578872579
An article by Robert Berke in oilprice.com, which describes itself as “The No. 1 Source for Oil & Energy News,” illustrates how interest groups control outcomes by how they shape policy choices. Berke’s article reveals how the US intends to maintain and extend its hegemony by breaking up the alliance between Russia, Iran, and China,... Read More
Dirty Frank\
Before its rents became astronomical, I lived in CenterCity, so frequented McGlinchey’s and Dirty Frank’s. Now, I walk into Frank’s and hardly recognize anybody. Uncle Moe, Tommy Hackett and Skinny Dave are long dead, the last from an OD while in his late 30’s. Others have moved away. Last week, though, I ran into Rick,... Read More
https://youtu.be/51qhiLFMX08 Donald Trump wants to rip up the financial rule book and let the bankers go hog-wild. But haven’t we tried that before? Last Friday, the president announced a plan to scrap the rules that were put in place in 2010 to prevent another financial meltdown. Trump wants to return to the ‘good old days’... Read More
Many Americans who have wrestled with a 1040 form, or who have paid someone to prepare their taxes, no doubt cheered the news that Congress will soon resume working on tax reform. However taxpayers should temper their enthusiasm because, even in the unlikely event tax collection is simplified, tax reform will not reduce the American... Read More
shutterstock_567496438
It's amazing how Obama was able to dupe the American people into believing that the weakest expansion in the postwar era, was an "economic recovery." Frankly, it boggles the mind. Think about it for a minute: Productivity, business investment, personal consumption, inflation and growth have all been either sputtering-along at half speed or at historic... Read More
shutterstock_562464373
How a Bank Conquered Washington
Irony isn’t a concept with which President Donald J. Trump is familiar. In his Inaugural Address, having nominated the wealthiest cabinet in American history, he proclaimed, “For too long, a small group in our nation's capital has reaped the rewards of government while the people have borne the cost. Washington flourished -- but the people... Read More
Steve Forbes once joked that if you ever find yourself in a middle seat on a plane and want to create some elbow room, try starting a conversation about U.S. monetary policy. It is a subject whose power to bore the pants off fellow passengers may diminish in coming years. Of dozens of potentially explosive... Read More
shutterstock_560025514
Introduction: During his inaugural speech, President Trump clearly and forcefully outlined the strategic political-economic policies he will pursue over the next four years. Anti-Trump journalist, editorialists, academics and experts, who appear in the Financial Times, New York Times, Washington Post and the Wall Street Journal have repeatedly distorted and lied about the President’s program as... Read More
"Things looked bleak for the Angels when they trailed by two runs in the ninth inning, but Los Angeles recovered thanks to a key single from Vladimir Guerrero to pull out a 7-6 victory over the Boston Red Sox at Fenway Park on Sunday." I think things have looked bleak for the angels at least... Read More
In a sense, the damage is already done and who can doubt that what follows will be a demolition derby -- with an exception almost too obvious to mention. In the pre-inaugural period, one simple fact of the Trumpian accession stood out boldly: just about every one of his appointees to a non-national-security post was... Read More
The Birth of a New Nationalist World Order
Donald Trump is a worldly fellow. He travels the globe on his private jet. He’s married to a Slovene and divorced from a Czech. He doesn’t speak any other languages, but hey, he’s an American, so monolingualism is his birthright. His fortune depends in large part on the global economy. He has business interests in... Read More
On Trump’s third day Trump is one up on the Establishment. Can this last? I am not a Trump booster. I am a scorekeeper. On the third day of his presidency Donald Trump signed an executive order withdrawing the United States from the Trans-Pacificic Partnership (TPP). Based on this we must assume he will also... Read More
Trump Ghost Town Inauguration
SHARMINI PERIES: It’s The Real News Network. I’m Sharmini Peries, coming to you from Baltimore. While protestors and police are clashing on the inaugural parade route in Washington, D.C., the newly sworn-in President of the United States is lunching with the establishment in Washington — Some of the very people he called out in his... Read More
Peter in Friendly Lounge
An American president has become a cartoon hero or villain. Like Obama, Trump is an inconsequential yet lurid target for worshippers and detractors to unload emotions. As we rejoice or rage at this figurehead, the Military Banking Complex will continue to serve the elites at our expense. Our economy will keep cratering, and our poor... Read More
Mock-up of planned Russian-Chinese airliner to compete with Boeing and Airbus. To enter service by 2025. Ambitious? Oh yes. Remember when we laughed at Toyota, Airbus, and Trump? Credit: Sputnik News.
Make Money, Not War
Is Washington really going to start a trade war with China, or is it just huffing and puffing for position? I don’t know. Mr. Trump has inexplicably failed to brief me. A point worth bearing in mind: The United States cannot compete commercially with a developed Asia, or China. America has nowhere to go. It... Read More
Thanks to all who contributed, retweeted, shared, and cared during the crowdfunded campaign to pay up HSBC whistleblower Nicholas Wilson's arrears and fees on his home mortgage.The campaign was a rousing success and provides Mr. Wilson some peace of mind and a few months' respite.Thank you again and best wishes to readers of China Matters... Read More
shutterstock_549530905
Donald Trump has a plan for dealing with the stock market bubble. Make it bigger. Before the election candidate Trump blasted Federal Reserve chairman Janet Yellen for keeping interest rates too low for too long to keep the economy humming along while Obama was still in office. The president elect accused Yellen of being politically... Read More
shutterstock_549546331
In the West Junk Information And Junk Judgment Prevail
The Western world and that part of the world that partakes of Western explanations live in a fictional world. We see this everywhere we look—in the alleged machinations of Russia to elect Donald Trump president of the US, in claims that Saddam Hussein and his (nonexistent) weapons of mass destruction were a threat to the... Read More
“The secret of great fortunes without apparent cause is a crime forgotten, for it was properly done.” H. Balzac Among the current crop of Wall Street financiers, Laurence “Larry” Fink has received the greatest number of awards and plaudits. He is the CEO and Chairman of Black Rock (BR), the world’s largest multinational investment management... Read More
shutterstock_539744317
Why is the Fed creating incentives for US corporations to destroy themselves? Why is the Fed pushing insurance companies and retirement funds into bankruptcy? Why is the Fed raising interest rates when inflation is still well below its 2 percent target? Things are not always what they seem. In theory, the Fed’s low interest rates... Read More
shutterstock_538492708
Trump’s economic plan has sent stocks ripping higher for six weeks straight. But what’s going to happen to stock prices when Congress gives Trump’s plan a big thumbs down? Has anyone thought about that yet? And what about the Fed? Does anyone seriously think that Fed chairman Janet Yellen is going to sit on her... Read More
Trump’s Carbon-Obsessed Energy Policy and the Planetary Nightmare to Come
Scroll through Donald Trump’s campaign promises or listen to his speeches and you could easily conclude that his energy policy consists of little more than a wish list drawn up by the major fossil fuel companies: lift environmental restrictions on oil and natural gas extraction, build the Keystone XL and Dakota Access pipelines, open more... Read More
The Trump administration-in-formation is a stew of generals, billionaires, and multimillionaires -- and as in the case of retired Marine General James "Mad Dog" Mattis, the likely new secretary of defense, even the military men seem to have made more than a few bucks in these last years. In retirement, Mattis, for instance, joined the... Read More
The presstitute media delivered the false news, not from Russian propaganda websites such as the Washington Post accuses this one of being, but from Obama’s US Bureau of Labor Statistics. The false news is that the collapsing economy continues to boom with 178,000 new jobs in November and a further fall in the rate of... Read More
Marty in Friendly Lounge, 2016
Within the shadow of 920-year-old Norwich Cathedral squats the 767-year-old Adam and Eve Pub. Both are spooky, inevitably. A decade ago, I was minding my own business, nursing a pint of Old Peculier, when the mugs above my head started to rattle, the ashtray flew off the bar and Lord Sheffield whispered in me ear,... Read More
Lula da Silva and Dilma Rousseff CC BY 3.0 br
Brazil under Lula Da Silva 2003-2010
Introduction: Leftwing academics, writers and journalists have written tendentious articles where they manage to transform reactionary political leaders into working class heroes and present their dreadful policies as progressive advances. Recently, leftist pundits throughout US and Latin America have plagued the reading public with gross distortions of historical events contributing, in their own way, to... Read More
Former Dallas Federal Reserve Bank President Richard Fisher recently gave a speech identifying the Federal Reserve’s easy money/low interest rate policies as a source of the public anger that propelled Donald Trump into the White House. Mr. Fisher is certainly correct that the Fed’s policies have “skewered” the middle class. However, the problem is not... Read More
Donald Trump's election triumph is among the more astonishing in history. Yet if he wishes to become the father of a new "America First" majority party, he must make good on his solemn promise: To end the trade deficits that have bled our country of scores of thousands of factories, and to create millions of... Read More
shutterstock_515800897
Will Donald Trump be good for the US economy? The American people seem to think so. According to a recent survey taken by Gallup “Americans have relatively high expectations (of) the president-elect… Substantial majorities (upward of 60%) believe the Trump administration will improve the economy and create jobs. A slim majority (52%) say he’ll improve... Read More
shutterstock_507567625
Real Vision Interview Transcript with Steve Keen
With two renegade economists in one room in London for 90 minutes you can expect some pretty controversial opinions about the current economic establishment. This film has all the makings of a Real Vision classic, as Steve Keen interviews professor and author, Michael Hudson, sharing their radical views and an extraordinary depth of knowledge. Discussing... Read More
Dan in Friendly Lounge, 2016
Jokers are bad news. You don’t want to sit next to one in a bar. This day, I heard, again, about a man who ordered ten shots of whiskey after getting a blow job, and a man who got a bullet in his ass while humping someone’s wife. “Had he shown up a minute earlier,... Read More
shutterstock_518322940
SHARMINI PERIES, TRNN: It’s the Real News Network. I’m Sharmini Peries coming to you from Baltimore. And we’re unpacking some economic mythologies here with Michael Hudson who joins us in our Baltimore studio. Thank you so much for joining us Michael. MICHAEL HUDSON: Good to be here. PERIES: Michael has a new book out, J... Read More
SHARMINI PERIES, TRNN: Welcome back to the Real News Network. I'm Sharmini Peries coming to you from Baltimore. Today I’m being joined in our Baltimore studio by economist Michael Hudson. Michael has a new book out J is for Junk Economics: A Survivor’s Guide to Economic Vocabulary in an Age of Deception. Michael is a... Read More
shutterstock_376235257
In Donald Trump’s first four years as president, he will not only choose three judges for the Supreme Court, he’ll also pick five of the seven members on the Fed Board of Governors. It would be impossible to overstate the effect this is going to have on the nation’s economic future. With both houses of... Read More
shutterstock_292748141-2
It’s Time for the Clintons, Rubin to Go – and Soros too
In the week leading up to last Tuesday’s election the press was busy writing obituaries for the Republican Party. This continued even after Donald Trump’s “surprising” victory – which, like the 2008 bank-fraud crash, “nobody could have expected.” The pretense is that Trump saw what no other politician saw: that the economy has not recovered... Read More
shutterstock_243134653
Few aspirants to the American presidency have ever deployed a more effective slogan than Donald Trump’s “Make America Great Again.” Although Hillary Clinton professed to believe that America has never stopped being great, in the end countless voters sided with Trump – and in many cases did so passionately, oblivious to all the Trumpian scandals... Read More
Protectionist Trumponomics vs. Neoliberalism
Donald Trump’s red wave on Election Day was an unprecedented body blow against neoliberalism. The stupid early-1990s prediction about the ‘end of history’ turned into a – possible – shock of the new. The new global nativism? Perhaps a new push towards democratic socialism? Too early to tell. Once again. A body blow, not a... Read More
shutterstock_303643508
The US presidential election is historic, because the American people were able to defeat the oligarchs. Hillary Clinton, an agent for the Oligarchy, was defeated despite the vicious media campaign against Donald Trump. This shows that the media and the political establishments of the political parties no longer have credibility with the American people. It... Read More
Eddie and Friends
When 46-year-old Eddie found out I’d been interviewing people, he wanted to talk. “You can write a book about me!” and that’s true enough, but then again, I’ve never met an uninteresting person. Within a minute, Eddie was showing me photos of women on his cell phone. There was plenty of skin and at least... Read More
When Time-Warner announced it planned to merge with another major communications firm, many feared the new company would exercise near-total monopoly power. These concerns led some to call for government action to block the merger in order to protect both Time-Warner's competitors and consumers.No, I am not talking about Time-Warner’s recent announced plan to merge... Read More
Donald Trump has long campaigned on the promise of running the country the way he's run his businesses. On that basis, we essentially already know what it would mean if he entered the Oval Office and applied his personal business acumen to this nation (and the rest of the world). There's a surprisingly full record... Read More
shutterstock_156562427-2
Wall Street in the Saddle
As this endless election limps toward its last days, while spiraling into a bizarre duel over vote-rigging accusations, a deep sigh is undoubtedly in order. The entire process has been an emotionally draining, frustration-inducing, rage-inflaming spectacle of repellent form over shallow substance. For many, the third debate evoked fatigue. More worrying, there was again no... Read More
Credit: Michael-Hudson.com
In 2012 a conference was held on Thorstein Veblen in Istanbul. It was sponsored by a socialist labor union, the Chamber of Electrical Engineers. We were asked why not focus on Marx. My answer was that Marx had died a generation earlier, and the major critique of finance capitalism had passed to Veblen. This book... Read More
shutterstock_249909598
Introduction: During most of the past two decades Washington has aggressively launched military and economic wars against at least nine countries, either directly or through its military aid to regional allies and proxies. US air and ground troops have bombed or invaded Afghanistan, Iraq, Pakistan, Libya, Somalia, Syria, Yemen and Lebanon. More recently Washington has... Read More
During the 2008 economic crisis, Iceland’s government froze offshore accounts held by foreign investors in that country’s currency, the krona. Recently, the government of Iceland announced it would unfreeze the accounts if the account holders paid a voluntary “departure tax,” which could be as high as 58 percent. Investors who choose not to pay the... Read More
Articles based on a 2012 Istanbul conference on Thorstein Veblen
Preface The Global Financial Crisis since 2008 has left in its wake the most severe economic downturn since the Great Depression. Governments and entire national economies have been sacrificed to save the financial sector and its major clients. Bailing out banks, bondholders and Wall Street brokerage houses – the institutions whose mismanagement, over-lending and outright... Read More
Category Classics
ABC's Epic Steel-cage Smackdown
Which superpower is more threatened by its “extractive elites”?
The sources of America’s immigration problems—and a possible solution