What Was, Is, And Might Be

In the linked speech by Professor Michael Hudson, you will find a brilliant analysis of the world's economic trajectory. Here is a sampling:

It was only a decade ago that Senator John McCain and President Barack Obama characterized Russia as merely a gas station with atom bombs. That could now just as well be said of the United States, basing its world economic power on control of the West’s oil trade, while its main export surpluses are agricultural crops and arms. The combination of financial debt leveraging and privatization has made America a high-cost economy, losing its former industrial leadership, much like Britain did. The United States is now attempting to live mainly off financial gains (interest, profits on foreign investment and central bank credit creation to inflate capital gains) instead of creating wealth through its own labor and industry. Its Western allies seek to do the same. They euphemize this U.S.-dominated system as “globalization,” but it is simply a financial form of colonialism – backed with the usual military threat of force and covert “regime change” to prevent countries from withdrawing from the system.

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NATO’s proxy war in Ukraine against Russia is the catalyst fracturing the world into two opposing spheres with incompatible economic philosophies. China, the country growing most rapidly, treats money and credit as a public utility allocated by government instead of letting the monopoly privilege of credit creation be privatized by banks, leading to them displacing government as economic and social planner. That monetary independence, relying on its own domestic money creation instead of borrowing U.S. electronic dollars, and denominating foreign trade and investment in its own currency instead of in dollars, is seen as an existential threat to America’s control of the global economy.

U.S. neoliberal doctrine calls for history to end by “freeing” the wealthy classes from a government strong enough to prevent the polarization of wealth, and ultimate decline and fall. Imposing trade and financial sanctions against Russia, Iran, Venezuela and other countries that resist U.S. diplomacy, and ultimately military confrontation, is how America intends to “spread democracy” by NATO from Ukraine to the China Sea.

You can read the rest @

https://www.nakedcapitalism.com/2022/07/michael-hudson-the-end-of-western-civilization-why-it-lacks-resilience-and-what-will-take-its-place.html

I agree with him. And I do NOT believe the neoliberal trajectory is good for anyone except the global elite.

I'm not rooting for Russia and China to "win", but I do want the Davos/WEF beast to lose, wither, and disappear.

What do YOU want?

Update - 7/20/2022

Here is a related discussion:

https://thesaker.is/on-liberating-europe/