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Ex-CIA advisor predicts date when U.S. dollar hegemony will collapse
The collective push to replace the U.S. dollar as the world reserve currency has much to do with Washington’s “weaponization of the dollar through the use of sanctions.”
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BRICS New Development Bank de-dollarizing, adding Argentina, Saudi Arabia, Zimbabwe as members
The BRICS bloc’s New Development Bank, an alternative to the U.S.-dominated World Bank, is de-dollarizing its loans, promoting local currencies, and adding new members: Argentina, Saudi Arabia, and Zimbabwe.
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How weapons firms influence the Ukraine debate
‘Experts’ from defense industry funded think tanks are flooding the media, pushing for more arms without disclosing their benefactors.
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Train horror in India: Another crime of decaying capitalism
The deadliest train crash in India in more than a quarter of a century has killed nearly 300 passengers and injured more than 1,000. It is a tragedy that has horrified the world and exposed the criminal neglect of basic infrastructure by the ultra-right regime of Hindu chauvinist Narendra Modi and the capitalist governments that preceded it.
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Is Nuclear Fusion Energy Salvation? Eternal Energy = Eternal Damnation
Or is Eternal Energy = Eternal Damnation?
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Debt ceiling hypocrisy: U.S. boosts military budget while restricting food stamps for poor
U.S. politicians from both parties agree: the deficit doesn’t matter. In their bipartisan deal to raise the debt ceiling, Biden and Republicans are boosting military spending to $886 billion while making it harder for poor people to receive food stamps and welfare.
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Why China’s socialist economy is more efficient than capitalism
The difficulty the U.S. faces in its current attempts to damage China’s economy was analysed in detail in the article “The U.S. is trying to persuade China to commit suicide”. Reduced to essentials, the U.S. problem is that it possesses no external economic levers powerful enough to derail China’s economy.
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TRANSCRIPT: The roots and consequences of African underdevelopment, Walter Rodney, 1979
In May 1979, the Center for Afro-American Studies at the University of California, Los Angeles hosted a symposium titled The Political Economy of the Black World. We are publishing, for the first time, Walter Rodney’s thoughtful presentation at this symposium.
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Replying on ecology and entropy
Stuart Jordan responds to criticism of his article on ecology and entropy in Solidarity 672
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Is “de-globalisation” occurring?
The Greek philosopher Heraclitus had said “You cannot step into the same river twice.”
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Stop stock buybacks!
On December 7, 2022, Southwest Airlines announced that it would reinstate its quarterly dividend payments, which had been legislatively suspended under requirements in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act).
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The perfect storm that created the housing crisis
The United States is in the midst of a severe housing crisis that is of its own making. This crisis results from several generations of awful housing policies, some of which date back a half century to the Nixon Administration (1968-1973).
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New Deal for Higher Ed w/ Jennifer Mittelstadt
We’re joined by Jennifer Mittelstadt (@MittelstadtJen), professor of history at Rutgers University, to discuss her involvement with Scholars for a New Deal for Higher Education. We speak with Mittelstadt about how Scholars for a New Deal for Higher Education is organizing to address the most pressing threats to US public higher education today, as well as about how her own scholarship on publicly-provisioned welfare systems in the United States shapes her political organizing and advocacy.
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Exchange rate depreciation and real wages
Most people, including even trained economists, fail to appreciate the fact that an exchange rate depreciation, if it is to work in reducing the trade deficit in a capitalist economy, must necessarily hurt the working class by lowering the real wage rate
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Manufactured crisis over U.S. debt ceiling sets stage for bipartisan assault on Social Security and Medicare
All of the social gains made by the working class in the course of more than a century of struggle must be wiped out to pay for the drive by the American ruling class to remove, by force of arms, Russia and China as obstacles to US hegemony, even if it means triggering a nuclear war.
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Sabotage in the time of the Anthropocene
A review of Daniel Goldhaber’s film adaptation of Swedish author Andreas Malm’s polarizing book ‘How to Blow Up a Pipeline’.
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Biden’s debt ceiling betrayal is a Democratic Party tradition
Joe Biden is continuing the ignoble tradition of colluding with republicans while pretending to fight them. The latest debt limit drama is another betrayal of the people.
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U.S. foreign policy: A bipartisan embrace of militarism
In December 2022, President Joe Biden signed into law the National Defense Authorization Act, approving “national defense” spending of $858 billion for fiscal year 2023
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“Peak China” – a new low in Western attempts to persuade China to commit suicide
One of the latest covers of the magazine The Economist carries a headline “Peak China”. This, as its name suggests, is a claim that while during the last seven decades China’s has enjoyed a peaceful “rise”, specifically in relation to the U.S., this has now ended. It was the latest of decades long wildly inaccurate predictions regarding China.
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U.S. announces plans to send F-16 fighter jets to Ukraine
On Friday, the White House announced the most reckless and dangerous escalation of its involvement in the war with Russia to date, that it has decided to train Ukrainian pilots to fly U.S.-made F-16 fighter jets and send the nuclear-capable planes to the battlefield.