The War in Ukraine Marks the End of the American Century. “What’s Left is a Steaming Pile of Dollar Denominated Debt”

The War in Ukraine Marks the End of the American Century. “What’s Left is a Steaming Pile of Dollar Denominated Debt”

“The ferocity of the confrontation in Ukraine shows that we’re talking about much more than the fate of the regime in Kiev. The architecture of the entire world order is at stake.” Sergei Naryshkin, Director of Russia’s Foreign Intelligence. *** Here’s your ‘reserve currency’ thought for the day: Every US dollar is a check written…

What Was Covid Really About? Triggering A Multi-Trillion Dollar Global Debt Crisis. “Ramping up an Imperialist Strategy”?

What Was Covid Really About? Triggering A Multi-Trillion Dollar Global Debt Crisis. “Ramping up an Imperialist Strategy”?

“And thus it renders more and more evident the great central fact that the cause of the miserable condition of the working class is to be sought, not in these minor grievances, but in the capitalistic system itself.” Friedrich Engels, The Condition of the Working Class in England (1845) (preface to the English Edition, p.36)…

Fiscal Insanity: The U.S. Government Borrows $6 Billion a Day, and People are Stuck with the Bill

Fiscal Insanity: The U.S. Government Borrows $6 Billion a Day, and People are Stuck with the Bill

We’re not living the American dream. We’re living a financial nightmare. The U.S. government is funding its existence with a credit card. The government—and that includes the current administration—is spending money it doesn’t have on programs it can’t afford, and “we the taxpayers” are the ones being forced to foot the bill for the government’s…

Solving the Debt Crisis the American Way

Solving the Debt Crisis the American Way

On Friday, Jan. 13, Treasury Secretary Janet Yellen wrote to Congress that the U.S. government will hit its borrowing limit on Jan. 19, forcing the new Congress into negotiations over the debt limit much sooner than expected. She said she will use accounting maneuvers she called “extraordinary measures” to keep U.S. finances running for a few months,…