Lau Kin Chi: Both the U.S. and Iran said they have won the war, and so what do you think about these two proclamations? Who do you think won the war?

Today’s U.S. foreign policy has spent the past eighty years since 1945 putting in place a body of neoliberal anti-government doctrine and its anti-socialist rhetoric rejecting all ideas of diplomatic and domestic economic reform.

Michael Hudson: My view is probably in agreement with what the military is said to have discussed with Donald Trump last night and for the last few days. They’ve all told him that the invasion cannot work without an enormous sacrifice, and the United States ever since the Vietnam War, that led to the ending of the draft, no longer has a landed army.

Reports suggest the U.S. economy may be on the verge of another financial crisis, with major problems in the $3 trillion private credit market. Economist Michael Hudson explains the dangers of Wall Street’s Ponzi schemes.

The U.S.-Israeli war on Iran is altering the geopolitical order, and could cause a global economic crisis. Economist Michael Hudson discusses the shock in the oil market and Tehran’s challenge to U.S. dominance.

Michael Hudson: “Well, I’d originally planned when you suggested talking about US foreign policy. I was going to go through my usual approach, which we’ve discussed, starting in the Bronze Age for, debt and debt financial policy and say, well, here’s how American foreign policy has evolved.”

Weaponizing the World’s Oil Trade is the Bedrock of the U.S. Rules-Based Order.

Weaponizing the World’s Oil Trade is the Bedrock of the U.S. Rules-Based Order.

Economist Michael Hudson describes how China created an alternative to the Western neoliberal order, and how the Global South can challenge the rent extraction of US-centered financial colonialism.

Donald Trump’s tariff policy has thrown markets into turmoil among his allies and enemies alike.

The 1940s saw a series of movies with Bing Crosby and Bob Hope, starting with the Road to Singapore in 1940.

Trump has promoted a number of plans to make America strong—at other countries’ expense.

The stock market crashed on August 5, in a new “Black Monday”. What caused it? Is the USA on the verge of a new financial crisis? Ben Norton is joined by economist Michael Hudson to discuss the extreme volatility.

Economist Michael Hudson details how BRICS could create a mutual settlement currency for payment imbalances among central banks and build an alternative to the financialized neoliberal model of the dollar/NATO bloc.

Economist Michael Hudson discusses the collapse of four U.S. banks in two months, giant JP Morgan Chase taking over First Republic Bank, and how government regulators are in bed with the bankers.

Economist Michael Hudson responds to the collapse of Silicon Valley Bank and Silvergate, and explains the similarities with the 2008 financial crash and the savings and loan crisis of the 1980s.

As in a Greek tragedy whose protagonist brings about precisely the fate that he has sought to avoid, the U.S./NATO confrontation with Russia in Ukraine is achieving just the opposite of America’s aim of preventing China, Russia and their allies from acting independently of U.S. control over their trade and investment policy.

The greatest challenge facing societies has always been how to conduct trade and credit without letting merchants and creditors make money by exploiting their customers and debtors.

It may seem strange to invite an economist to give a keynote speech to a conference of the social sciences. Economists have been characterized as autistic and anti-social in the popular press for good reason.

To Wall Street and its backers, the solution to any price inflation is to reduce wages and public social spending. The orthodox way to do this is to push the economy into recession in order to reduce hiring. Rising unemployment will oblige labor to compete for jobs that pay less and less as the economy slows.