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This is the lecture I would have given if I had been able to accept the invitation to address the St. Petersburg Economic Conference in Russia this weekend. Executive Summary: From the standpoint of Russia’s dilemma, this is an important column. Putin’s partial impotence via-a-vis Washington is due to the grip that neoliberal economics exercises... Read More
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America's greatest strategic mind of global recognition, Alfred Thayer Mahan, in his seminal work The Influence of Sea Power upon History saw the World Ocean and activity in it as the foundation for national greatness and power. The pivot of this greatness was a powerful navy. Through Mahan, the Theory of Navalism reached American elites... Read More
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An interview with journalist Chris Hedges
On Monday, WSWS International Editorial Board Chairman David North interviewed Chris Hedges, the Pulitzer Prize-winning journalist, author, lecturer and former New York Times correspondent. Among Hedges’ best-known books are War is a Force That Gives Us Meaning, The Death of the Liberal Class, Empire of Illusion: the End of Literacy and the Triumph of Spectacle,... Read More
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U.S. Sanctions Aimed at Russia Strike Western European Allies
Do they know what they are doing? When the U.S. Congress adopts draconian sanctions aimed mainly at disempowering President Trump and ruling out any move to improve relations with Russia, do they realize that the measures amount to a declaration of economic war against their dear European “friends”? Whether they know or not, they obviously... Read More
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What will those rascals in Moscow do next?
It has been another week full of news about Russia. Americans might be surprised to learn that nearly every aspect of their lives has been somehow impacted by the insidious covert activity of a former global enemy that now has an economy the size of Spain or Italy. One of the latest claims is that... Read More
Ancient Silk Road Routes.  Credit: Wikimedia Commons
Peter Frankopan's The Silk Roads: A New History of the World shows why we need to re-vision history
The word revisionist derives from roots meaning "to look again." And since history is an ongoing project, whose main purpose is to help us understand where we have come from and where we are going, we obviously need to keep taking fresh looks at the past as we propose new visions of the future. Obligatory... Read More
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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
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
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Almost six years ago, President Putin proposed to Germany ‘the creation of a harmonious economic community stretching from Lisbon to Vladivostok.’ This idea represented an immense trade emporium uniting Russia and the EU, or, in Putin’s words, “a unified continental market with a capacity worth trillions of dollars.” In a nutshell: Eurasia integration. Washington panicked.... Read More
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According to various reports, the Russian government is reconsidering the neoliberal policy that has served Russia so badly since the collapse of the Soviet Union. If Russia had adopted an intelligent economic policy, its economy would be far ahead of where it stands today. It would have avoided most of the capital flight to the... Read More
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When friends of friends are enemies
A friend recently observed to me that it is ironic that the neoconservatives, whose bottom line foreign policy issue is the uncritical support of Israel, should be obsessed with constantly confronting and goading Russia even though Tel Aviv and Moscow get along just fine. Israeli Prime Minister Benjamin Netanyahu has traveled to Russia three times... Read More
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NOTE: Readers are asking to know who, in addition to the Western-financed NGOs, are the Fifth Columnists inside Russia. Michael Hudson and I left the description general as Atlanticist Integrationists and neoliberal economists. The Saker provides some specific names. Among the Fifth Columnists are the Russian Prime Minister, head of the Central Bank, and the... Read More
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As Russia and Asia move to circumvent the stranglehold of an aging, U.S. dominated international financial and legal system with its promise of endless austerity and privatization by foreign investors, the IMF and World Bank double-down by making it more difficult for them to transact business and administer credit. A nightmare scenario of U.S. geopolitical... Read More
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On December 8, the IMF’s Chief Spokesman Gerry Rice sent a note saying: “The IMF's Executive Board met today and agreed to change the current policy on non-toleration of arrears to official creditors. We will provide details on the scope and rationale for this policy change in the next day or so.” Since 1947 when... Read More
The question is often asked: “What can we do?” Here is a prescription for peace and prosperity. We will begin with prosperity, because prosperity can contribute to peace. Sometimes governments begin wars in order to distract from unpromising economic prospects, and internal political stability can also be dependent on prosperity. The Road to Prosperity For... Read More
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How China and Russia Are Running Rings Around Washington
Let’s start with the geopolitical Big Bang you know nothing about, the one that occurred just two weeks ago. Here are its results: from now on, any possible future attack on Iran threatened by the Pentagon (in conjunction with NATO) would essentially be an assault on the planning of an interlocking set of organizations --... Read More
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The Iran nuclear agreement has less to do with proliferation than it does with geopolitics. The reason Obama wants to ease sanctions on Iran is because he wants to push down oil prices while creating an alternate source of natural gas for Europe. In other words, the real objective here is to hurt Russia which... Read More
There’s been a virtual blackout of news from this year’s seventh annual BRICS summit in Ufa, Russia. None of the mainstream media organizations are covering the meetings or making any attempt to explain what’s going on. As a result, the American people remain largely in the dark about a powerful coalition of nations that are... Read More
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Greece is the pearl of Mediterranean, the place generations of foreigners from Lord Byron to Graves to Fowles have fallen in love with. From philosophy to feta, from history to yoghurt, from poetry to honey they provided the example to follow. Their priests preserve the pristine faith; their fighters defeated Mussolini; their Helen is the... Read More
With 90% of the votes counted, the Greek people have voted 61% to 39% against accepting the latest round of austerity that the EU is trying to impose on the Greek people for the benefit of the One Percent. What is amazing is that 39% voted for the One Percent against their own interests. This... Read More
While much of the world focused last week on whether or not the Federal Reserve was going to raise interest rates, or whether the Greek debt crisis would bring Europe to a crisis, the Permanent Court of Arbitration in The Hague awarded a $50 billion judgment to shareholders of the former oil company Yukos in... Read More
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Paul Craig Roberts’ address to the Conference on the European/Russian Crisis, Delphi, Greece, June 20-21, 2015 
Paul Craig Roberts, formerly Assistant Secretary of the US Treasury for Economic Policy, Associate Editor, Wall Street Journal, Senior Research Fellow, Stanford University, William E. Simon Chair in Political Economy, Center for Strategic and International Studies, Georgetown University, Washington,... Read More
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The Saker Interviews Michael Hudson
Cross-posted from The Saker The Saker: We hear that the Ukraine will have to declare a default, but that it will probably be a “technical” default as opposed to an official one. Some say that the decision of the Rada to allow Iatseniuk to chose whom to pay is already such a “technical default”. Is... Read More
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Did Market Leninism Win the Cold War?
Imagine an alternative universe in which the two major Cold War superpowers evolved into the United Soviet Socialist States. The conjoined entity, linked perhaps by a new Bering Straits land bridge, combines the optimal features of capitalism and collectivism. From Siberia to Sioux City, we’d all be living in one giant Sweden. It sounds like... Read More
Paul Craig Roberts, Keynote Address to the Annual Conference of the Financial West Group, New Orleans, May 7, 2015
The defining events of our time are the collapse of the Soviet Union, 9/11, jobs offshoring, and financial deregulation. In these events we find the basis of our foreign policy problems and our economic problems. The United States has always had a good opinion of itself, but with the Soviet collapse self-satisfaction reached new heights.... Read More
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America's Start is Setting
The Laussanne negotiations between Iran and the so called P5+1 group (the United States, Russia, China, France, Britain, and Germany) have nothing to do with nuclear proliferation. They are, in fact, another attempt to weaken and isolate Russia by easing sanctions, thus allowing Iranian gas to replace Russian gas in Europe. Laussanne shows that Washington... Read More
SHARMINI PERIES, EXEC. PRODUCER, TRNN: Welcome to the Michael Hudson report on The Real News Network. I’m Sharmini Peries, coming to you from Baltimore. A ceasefire in Eastern Ukraine has been agreed to, following a marathon all-night, 17-hour negotiation between Russian President Vladimir Putin and Ukraine President Petro Poroshenko. They were flanked byother European leaders... Read More
RT news:
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Bravo!
It’s hard to know which country is going to suffer the most from falling oil prices. Up to now, of course, Russia, Iran and Venezuela have taken the biggest hit, but that will probably change as time goes on. What the Obama administration should be worried about is the second-order effects that will eventually show... Read More
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Barbarossa 2
Russian President Vladimir Putin suffered a stunning defeat on Tuesday when a US-backed plan to push down oil prices sent the ruble into freefall. Russia’s currency plunged 10 percent on Monday followed by an 11 percent drop on Tuesday reducing the ruble’s value by more than half in less than a year. The jarring slide... Read More
Interview on the Real News. Visit their page to watch it. Sharing disabled. The Hudson Report: Europe’s effort to join the US in isolating Russia has backfired, it makes no sense to build an oil and gas pipeline for Russian exports that would be owned and leased to them by the US and Europe. SHARMINI... Read More
SHARMINI PERIES, EXEC. PRODUCER, TRNN: Welcome to The Real News Network. I’m Sharmini Peries, coming to you from Baltimore. President Vladimir Putin is on his way to India to discuss a gas and arms deal. Last week, he was in Turkey talking about diverting what was to be a South Stream pipeline away from Southern... Read More
U.S. New Cold War policy has backfired – and created its worst nightmare 1. The world’s geopolitics, major trade patterns and military alliances have changed radically in the past month. Russia has re-oriented its gas and oil trade, and also its trade in military technology, away from Europe toward Eurasia. The result is the opposite... Read More
APEC meetings November 12, 2014 President Putin Pledges to Increase Trade with China and Asia to Rebuke Sanctions SHARMINI PERIES, EXEC. PRODUCER, TRNN: Welcome to The Real News Network. I’m Sharmini Peries, coming to you from Baltimore. During this year a number of governments applied sanctions against Russia for its involvement in the alleged pro-Russian... Read More
The gas deal between Ukraine and Russia became possible because Europe realized that it wouldn’t get the gas if it didn’t get behind Ukraine, Wall Street analyst Michael Hudson told RT. RT: How important is this gas deal for Ukraine and for Europe? Michael Hudson: It’s apparently most important for Europe because it was Europe... Read More
Deliberations at the current NATO summit in Wales may or may not produce a reduction in tensions over Ukraine. But one thing is certain: irrespective of how the stand-off is eventually resolved, Vladimir Putin will emerge with his reputation powerfully enhanced. Basically Putin is the new Napoleon, and the Ukraine crisis is his diplomatic Austerlitz:... Read More
The latest instalment of the Hudson-Keiser interview series, this time on Russian sanctions and the affect on the US dollar subsidy. How many times can America hurt it’s economic prospects? Read my book the Super Imperialism to understand how the 1972 trends play out.
More at The Real News
President Obama is no doubt congratulating himself on today’s news of tough new EU sanctions on Russia. He shouldn’t count his chickens. Sanctions are one thing, but how rigorously will they be enforced? Several EU nations seem to be merely going through the motions and will no doubt prove creative in finding loopholes. The most... Read More
Almost everyone in the American establishment seems to support President Obama’s new round of sanctions against Russia. Almost everyone, that is, except U.S. exporters. Although they have been quiet on the crisis, U.S. exporters are hardly happy. They are censoring themselves because to speak openly would risk accusations of disloyalty. But they know in their... Read More
More at The Real News Transcript WORONCZUK: So, Michael, let’s talk about the economic association agreement that Moldova, Georgia, and Ukraine signed with the E.U. last week. Let’s get a sense of what are the details of the agreement. And how does this differ from–let’s say, in economic terms, from a full-fledged membership with the... Read More
More at The Real News Reflecting on this topic, I add: The US press and newscasts make it appear that Europeans have voted against poor immigrants and foreigners. What they voted against the super-rich, the oligarchy. The “foreigners” being opposed include the United States insisting on drawing NATO into its wars in Libya,Iraq, Syria and... Read More
The Ukraine sovereignty issue discussed in light of pro-Russian politics vs austerity comforts.
Michael Hudson[1] The following article is from a new book, Flashpoint in Ukraine, edited by Stephen Lendman. It is currently available from Clarity Press as an e-book, and soon to be printed. Finance in today’s world has become war by non-military means. Its object is the same as that of military conquest: appropriation of land... Read More
Latvia’s Neoliberal War Against Labor and Industry Published in The Contradictions of Austerity: The socio-economic costs of the neoliberal Baltic model Edited by Jeffrey Sommers & Charles Woolfson This article examines how neoliberal policymakers trained in the United States captured Latvia’s economic policy to impose pro-rentier, pro-bank, anti-labor tax and financial policies. Latvia’s national interests... Read More
Renegade Economists interview April 22nd, 2014
Listen Subscribe to the weekly podcast. Karl Fitzgerald: Michael Hudson – www.Michael-Hudson.com – is back on the 3CR airwaves with an explosive show moving through the incredible wealth gap as outlined by Thomas Piketty. His book is barnstorming the world at the moment. We review it, alongside a bit of Marxist theory as we slide... Read More
More at The Real News I’m Jessica Desvarieux in Baltimore. And welcome to this edition of The Hudson Report. Now joining us is Michael Hudson. He is a distinguished research professor of economics at the University of Missouri-Kansas City. His two newest books are The Bubble and Beyond and Finance Capitalism and Its Discontents. Thanks... Read More
The New York Times has acquired a new Judith Miller
Libertarian ideology favors privatization. However, in practice privatization is usually very different in result than libertarian ideology postulates. Almost always, privatization becomes a way for well-connected private interests to loot both the public purse and the general welfare. Most privatizations, such as those that have occurred in France and UK during the neoliberal era, and... Read More
Welcome to The Real News Network. I’m Jessica Desvarieux in Baltimore. Hundreds of pro-Russian protesters have seized public buildings in Eastern Ukrainian cities. They’re demanding referendums to secede from Ukraine in order to become a part of Russia. Ukrainian officials have blamed Putin for this continued unrest, but it should be noted that Ukraine is... Read More
with Thom Hartmann from RT’s The Big Picture.
Category Classics
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