Will the Global South Break Free from Dollarized Debt?

Will the Global South Break Free from Dollarized Debt?

With The Destiny of Civilization: Finance Capitalism, Industrial Capitalism or Socialism, Michael Hudson, one of the world’s leading independent economists, has given us arguably the ultimate handbook on where we’re at, who’s in charge, and whether we can bypass them. Let’s jump straight into the fray. Hudson begins with an analysis of the “take the…

Orlov: Placing the USA on a Collapse Continuum

Orlov: Placing the USA on a Collapse Continuum

The West is rotting!Yes, maybe, but what a nice smell… Old Soviet joke The word ‘catastrophe‘ has several meanings, but in its original meaning in Greek the word means a “sudden downturn” (in Greekkatastrophē ‘overturning, sudden turn,’ from kata- ‘down’ + strophē ‘turning’). As for the word “superpower” it also has several possible definitions, but…

Financial Warfare and the Float of China’s Yuan. Weaponization of the Forex Market

Financial Warfare and the Float of China’s Yuan. Weaponization of the Forex Market

Haikou, Hainan: In an unusual twist, financial experts have called upon China’s monetary authorities to let the Renminbi float to “ease risks” (China Daily, October 31, 2018). Sounds contradictory? At this juncture, at the height of Trump’s trade war against China, the Forex market has become weaponized. The policy of “Floating the Yuan” has contributed to the…

Is There Such a Thing As a “Shithole Country”?

Is There Such a Thing As a “Shithole Country”?

The question should be rephrased to whether there’s such a thing as a “shithole” period, and yes, there is, but the stereotypical “Third World” socio-economic and physical conditions that the word often embodies are also widely present in parts of the US. Another day, another Trump controversy, and this time it’s the Mainstream Media going…

The Dollar Rebellion

The Dollar Rebellion

This morning, I happened to overhear something I found to be highly hilarious, to say nothing of guffaw-inducing. Ok, so I’m here in Tucson and I walk all over the place. To date, I have only been approached twice in about a year by panhandlers asking for money. And I see the homeless all the…