Congratulations on the 10th show! This series is more valuable than an economics degree path in a Western university. Thank you for teaching classical economics.
@@GlobalDrifter1000 What a clown! I studied economics for 4 years, and unlike the Charlatan Economists, I actually LEARNED what I studied. Michael Hudson is one of the few legitimate economists.
The best hour is here! Thank you very much, Professors Radhika Desai, Michael Hudson and Mick Dunford, for your remarkable knowledge: it's always very enlightening!
This is really funny. The average weight of a male adult American is indeed 200lb. The average weight of an Eritrean is around 98lb. USA has been sanctioning Eritrea since 2021.
Wow! YT really dislikes this content - interrupts the discussion every two-three minutes with ads to make it harder for viewers to follow what it being communicated. But not new for YT to seek out & practice ways to both disrupt & profit.
If TH-cam thought that the info in this discussion will lead to a better world it would not be shown its being shown to assimilate " both sides of the argument " they do bomb countries into rubble including babies and grandparents why do you think they have morals
So many more I nearly lost count, but had 10 more ad breaks before I finished (another 52 minutes!). Google's CIA contracts must've been especially generous this year.
To be honest, the adverts to promote the products and programs became counter productive as the constant interruption start to make me annoyed with the advertisers rather than you tube
This was an enlightening discussion. I hope the BRI expands and the BRICS continue to increase in numbers, but the goal of a multi polar world without a more structured economic foundation seems an open ended resolution.
I think the point is this economic foundation can only be built cooperatively with all the nations contributing and putting forward suggestions and ideas stemming from their own concrete needs and capabilities. For me, the question of economics is always political first and foremost, rather than an a priori 'science'. I am sure the global south countries working through the New Development Bank are tackling these issues head on. And with the increased belligerence of the US and Europe, it seems like they are making good progress.
I was a bit disappointed with this discussion. Surely China does have an internal model based on dynamic planning, public ownership of finance and key industries combined with a large private sector, all governed by a non capitalist state. If one talks about a neoliberal model in the West then China's radically different economic system deserves to recognized as a model. Similarly, China has a very different non imperialist approach to international relations. I was hoping that this would be more clearly spelled out in this session along with some perspectives on how the new geopolitical reorientation might develop.
You shouldn’t be disappointed in not getting a clearly spelled out alternative international order... isn’t the best lesson from the emergence of a non-colonial, populated & poor country like China that it CAN be done with pragmatism, self-determination, and NOT adhering to the neoliberal doctrine or ANY doctrine for that matter. Hasn’t the world/global south had enough of western indoctrination, enslavement of the mind, intellect, & spirit? Are they so eager to look for another master to worship, a shining beacon to look up to? & even if China wishes to introduce an alternative model, how can it do so without triggering WWIII & the destruction of us all because we know that the west will want to hold on to their economic & intellectual rights supremacy like a dog with a bone at all costs. Perhaps what the world needs is not another doctrine to reach for, but a bit of self assessment and pragmatic determinism
Great discussion, as usual. I wish there were more geo economic panels with this level of clarity on the internet. I hope this channel grows. Well done!
Thank you GER and Radhika, for presenting us with another valuable story in support of Socialism with Chinese characteristics. China is now in effect demonstrating to the world that because Information Technology (IT) and Artificial Intelligence (AI) now influences so much of human story telling and behaviour; that the time, effort, intelligence and taxes being spent by liberal democratic multi party forms of governance in which such parties must oppose each other - no matter what and occasionally resulting in violence, that this is now an unnecessary and relatively inefficient form of governance. So called Chinese 'Netizens' are in effect demonstrating how IT and AI can now put such political resources and effort to much better use, thereby providing themselves with a more sophisticated single party form of governance using what the CPC refers to as 'whole process people's democracy', a form of democracy and governance that has proven over recent decades to be relatively more capable than most - if not all other forms, of meeting people's social and cultural needs.
Vietnam gave the Pentagon nightmares and PTSD because Americans were massacred by pyjama clad Vietcong, and In spite of massive air support. The number of american fatalities were very much higher than officially recorded. It is the MO of the USAF that the enemy always suffer more casualties than itself - a ratio of 20 to 1 in Vietnam. While US killed mainly Vietnamese civilians, the Americans casualties were mainly military personnel and it is known by war correspondents in forward bases, that the fatalities of Americans were in the region of 500K or more. This was unacceptable because many families in every state of US were burying empty coffins of their children, fathers, brothers etc. Hence, the undignified escape from Saigon captured on film. After that, the Pentagon decided that there will not be boots on the ground in any fighting where american soldiers will be killed in large numbers. Thus the policy change of using proxies where possible. Ukraine and other SEA countries are being pushed to fight Russia and China while US just provides the ordnance. Basically, the US has lost its balls and is afraid to go to war with a major power. All the money allocated to the armed forces went into the pockets of some generals, the MIC, military contractors and state dept officials, not forgetting the lawmakers in Congress who approve all these corrupt practices. .
Yes, the economy only grows by creating added value which is production and agriculture. If GDP is growing by raising rents or selling stocks to each other, it certainly feels like pyramid.
We enjoy these talks greatly and feel more informed everytime. Keep up the truth telling. It'$ worth our time to listen and learn. Thanks a million team :)
Ironically, this important conversation was interrupted by a YT ad for the New York Times, which of course scrupuliously avoids any criticism of US imperialism or neoliberalism or mentions the decline of western global hegemony.
Kicking of can's down the road are comings to an ends. The cans are fully dented,the cans can hardly move anymore. Look like kicking of bucket may emerges.
"Inflation has returned to the United States because it's ability to compel the rest of the world to sell it goods and services for nothing is declining." Thanks for this succinct articulation of inflation
Pardon the naivete of the question, but the US policy since the 1980s was to shift the industrial base to China. Didn't the elites know this would lead to serious difficulties? Did they care? Did they just think they could handle problems that were caused by this? Maybe they didn't care/hubris . Maybe the indivicuals who made this policy shift(think it was under Reagan when his administration greatly increased the tax on labor - ss increase to 8% I think) . The US elites killed their own empire in order to decimate labor in the US ? What were these people thinking(or not thinking about)?
Sullivans speach was the pivot to industrial policy away from neo-liberalism and globalisation. Lagard gave practically the same speach a week earlier. This is it, world is changing.
US's MIC recorded 200% increase of profit, and many income will only show up in financial statements for the next few years, so the real profit because of this war is huge.
In the context of Mick Dunford's comments on China's capacity to systematically address inherent contradictions encountered during its periods of development it's worth highlighting Professor Wen Tiejun's series of lectures to be found at the Global University for Sustainability: th-cam.com/video/YdTGM10HbT8/w-d-xo.html
Fantastic comments and insights guys. The level of historical, economic and political literacy in this chat room is best-in-class and very refreshing and I was learning all the way through 👏 the insights from Mick about China/the Chinese political philosophy were super interesting to me (as I have very little knowledge in this area), and not entirely unexpected either. Another interesting point to note is that neither China or Russia views nationality and nationalism as the same thing, in the same way that some capitalist/imperialist/fascist nations do. The original divide and conquer tactic. A bit like the hunger games movies 😅 more of these guys please! 🙏
America's spokesman said to Zelensky that money spent killing Russians is the "best money we've ever spent". Better spent than on helping Americans with medical bills or homelessness or food or tackling climate change? Graham: Yes!
Maybe the key is to redirect the military industrial complex to the infrastructure and space industrial complex such that they're guaranteed to at least make the current amount of spending ... new contracts are then awarded to the most competitive companies.
While reading the video's text , I came across a confusing French sentence that I couldn't find the meaning of through searching.（“You know, René Mignon, Comte d’Antilles, global civilization shared prosperity in the world”） Then I immediately watched the video, I realized that the professor used Mandarin to say "A community of shared future" here. Well, it's another story of the Tower of Babel. I empathize with the copy editor，I had a similar experience of reading
As a Chinese I totally agree with Michael. Now the government just talk the talk, not walk the walk. There is a lot of vested interest in the old way of development and a struggle is going on between the old and the new.
Why not repudiate dollar and western currency based debt but also calculate and declare reparations debt on America and all historically benefitting Western former colonial powers and culpable-descendant corporate bodies and institutions. Reparations debt to be related to long term historical issues such as transatlantic slave trade economies, various genocides, etc but also all of the more recent depredations such as Iraq War, Libya, Afghanistan etc. In an impending scenario where dedollarisation systems are put into place and 85% of people on 80% of the land could form a bloc and choose via sovereign state policies to seal the West into itself - and only trade with the West on favourable terms in that newly imposed world order context - what could the Western nations do other than stamp their feet and accept the medicine? That scenario could surely be achieved in the relatively near term say between 20 to 30 years time? (With or without armed conflict...)
Great discussion. So when did it all start? When political sociopaths were afforded adult authority. Hierarchy is a privilege creating structure that is sociopathic in its inception. Economic hierarchy being the most destructive to the society. It interjects competition into contexts where only provisioning is required. It detracts from the goals of healthy society creation with competitive conflicts of interest such as click formation, withholding knowledge and resources from the provisioning processes, and with the general distractions of conflict. Capitalism is the mechanism by which political sociopaths establish the hierarchies of dominance. This is why we should never afford political sociopaths adult authority in a society that seeks to be healthy and holistic. Political sociopath: Someone who is willing to do harm to another for the sake of opportunity, social capital, hierarchy, profit and/or pleasure. All governance will descend into oligarchy and fascism at rates that are determined by the quality and stability of its consensus seeking strategies, the tolerance of bad faith actors in its processes, its best practices policies and the documentation of data that goes into the making of its policy choices. They cannot be compared outside that framework in regard to speed of that descent. Consensus seeking strategies are what create the possibility of a society. Anything less is a war zone.
As a recent college grad from a midwestern university in the US, where I‘ve receieved a bachelors in Neoliberal Propaganda, this series and Michael Hudson‘s writings have been eye-opening. I started to feel toward the end of my degree that I was not been taught the truth about how the economy functions, but could never quite grasp what was missing. Now I see that the American empire depends upon the subjugation of poor countries, of course assisted in this by its European predecessors, and the whole roster of foreign aid (theft) organizations, think tanks (propaganda manufacturers), and international bodies of law (arbiters of imperial will). I used to think that the American system was one which for the most part, functioned well and democratically, with a lot of corruption that seeped through the cracks, but now I see that the rot is, in fact, the core of the system. I work in the finance industry here and am faced daily with the utter cognitive dissonance that results from seeking to understand the truth about history and the US‘ role in it, and the forced state of delusion I put myself in as an employee of this sector, as a functionary of this whole house of cards, just to make a living. I really wonder what one is to do as an individual seemingly caught in the gristmill of the grander historical process. Do I seek escape from the sinking American ship in a place like Singapore or Switzerland? Or do I just hope for the best and try to live my best life here? Questions..
I am a medical researcher so I don't think I can give you economic insight but just from human to human I would say if it's already weighing on you working for an imperialist house of cards then maybe indeed look to move to countries where you can actually help the working class, maybe offer your services as a visiting professor in African universities (I am African) or Latin America. Invest meaningfully in developing nations whilst if possible learning economics from actual working economies, that of China and Russia. It's a conundrum indeed you are in but it can't be healthy in the long run (my medical side coming out).
the problem I see in Latina America and the Caribbean is leadership, different stages of development, the lack of clarity regarding imperialism, reforms that are not deep enough and the lack of the leadership to involve the peoples of our countries in the process of getting out of capitalism. I think the exceptions are Cuba, Nicaragua, Venezuela, Bolivia, maybe Mexico. I hope Petro does not divorce from the people that voted for him. Argentina had a great opportunity not to negotiate with the IMF that broke its own rules lending over 50 billion dollars to Argentina, Fernandez could have done what Correa did in Ecuador with the foreign debt, but he didn't and Argentina is doing very poorly. Thank you for your program
Given the discussion of environmentalism, I wonder what Mick would say about the dimensions of Chinese development that are occurring elsewhere, for example food growth in other countries, including pig farming in the US. I noticed that Lee Camp did a video about this yesterday or today. How is the food and animal/plant system being improved, if it is?
for Radhika: would it be too much to say the US entered WW1 in 1917 and WW2 in 1941, once the 'allies' were exhausted and had been indebted to the US as much as possible and only when it decided which was the winning side to come in with? I have no opinion. Just been wondering a long time.
There must after all be a 'Chinese model' but they don't want to let on. maybe learning from the Japanese jingoist rhetoric in the 80s before they got ordered into stagnation by US? (that would never happen to China anyway)
Great discussion. However, I was disappointed that the other two pushed back (more like, dismissed) Michael's call for the need for economic concepts. Also, all three in talking about how the non-western world can learn from the China miracle seem to forget that that miracle was absolutely made possible by American corporations seeking cheap labor. I mean, talk about laying a trap.
You are falling for American propaganda. Cheap labor is everywhere in the non-developed Western World. Ask yourself why Western corporations chose China instead of other countries (i.e. democratic India)....I can tell you if you ask. Why have other "cheap labor" countries not been able to duplicate or exceed China's economic success? Also, America did not send it's manufacturing to China until after 2001 (when China entered WTO) because America imposed sanctions on China from Tiananmen Square events (1989). The first foreign investors in China beginning in the 1980's were other Chinese (Taiwan, Singapore, Hong Kong and other Chinese diaspora) and later Europe (France, Germany, Italy etc..) in the 1990's. China''s rise is due to foreign investment, CPC leadership "5 year plans", Industrial Capitalism and State owned Banks directing credit among other things (human capital). As for Hudson's call for economic concepts, agreed, there should have been follow up. However, Hudson is a rare genius. Not many economists in the West think at such a high level therefore a "prepared" reply might be necessary.
All these situations have happened because of some people's greed and selfishness, today the whole world is standing on.😃😃😃and every single people is paying off😆😆
Good program. I enjoyed listening to Mick. Nice to hear his perspective. I came from the Pittsburgh area which in my youth was a very grimy industrialized city. It subsequently cleaned up its act so environmental improvement is possible and a good thing most of the time. I take issue with Radhika’s view on global warming, which she has mentioned before. Global warming is advanced in the propagandized MSM as a fact when it is controversial and not a fact at all. It is used in the west, particularly Europe, as an imperialistic tool to impose food, industry and energy shortages, the worst form of austerity and a Malthusian death cult. If Radhika is correct and Europe postpones the green advancement, so to speak, during the war in Ukraine, it will Save lives and stop the pollution caused by nonbiodegradable, noisy animal repulsing and bird killing, repugnant eyesores of windmills and fields of nonbiodegradable solar panels taking up agricultural space in Greece. As an Indian, Radhika might understand that Malthusian principles supporting imperialism and based on pseudo-science killed over a million Indians. I believe Ben Norton did a program on that topic which I have yet to watch.
Great show! I am from Brazil and even though Lula was elected Brazil's president, brazilians ironically elected a miority of right and far-right wing politiciana for the Brazilian Congress. And in doing so, they had set Lula into a trap where he can't put in practice his program, because there is no enough votes on the Congress. Rather, the Congress in Brazil is working along with the so called independent Central Bank to undermine any attempt from Lula's team to follow a more progressive path. That is the environment here in Brazil.
Question: can we have an accurate view of the US economy without taking into account the colonial-esque control/ownership US corps have over assets in foreign countries?
Maybe indebted countries could create local currencies that do not create debt when issued (and maybe like the secondary curencies in some older societies that worked on the opposite principle of interest which is demurrage i.e they lost some value over time and were recalled periodically, stimulating circulation/availability)
China's Social development is based on its internal condition in relation to external contradictions, a modern civilization connected to its historical past . From its own feudal past ,to Mao's economic arrangements ( 1. Heavy Industry- Public 2. Medium Industry and Agriculture - Cooperative 3 Light Industry -Private ) To Dengs' Opening up , To Xi's Socialism with Chinese Characteristics and a global development of Shared dreams.
WITH REGARD TO THE MISSING FRAMEWORK OF CHINA'S NEW WORLD ECONOMIC POLICY - THE WORLD WILL SIMPLY HAVE TO DEVELOP THE ART OF WATCHING AND LEARNING as all children do!
39:37 I appreciate the knowledge you are sharing. It takes capital to generate currency. Until you understand that, you give criminals permission. Please correct the language.
I could listen to the brilliant Professor Michael Hudson for hours and soak up everything he says. Not so with Desai and Dunford: Desai dominates the conversation and does not do a good job of framing what she is trying to communicate, while Dunford I can hardly hear and find my mind drifting from boredom. Why not just have Ben interviewing Professor Hudson instead of including two people who are a strain to listen to?
![Global Capitalism: China vs. US - System Rising vs. Falling [September 2022]](http://i.ytimg.com/vi/beOSBVFa-9I/mqdefault.jpg)
![Global Capitalism: China vs. US - System Rising vs. Falling [September 2022]](/img/tr.png)
![[LIVE] : ONE ลุมพินี 87 วันนี้!! คู่เอก "ก้องชัย vs โชคปรีชา"](http://i.ytimg.com/vi/YN6e7HVnekw/mqdefault.jpg)
Congratulations on the 10th show! This series is more valuable than an economics degree path in a Western university.
Thank you for teaching classical economics.
Like comparing a diamond to a sheet of toilet paper. 😆
@@mycroftholmes766 😂
Spoken by children without an economics degree
@@GlobalDrifter1000 What a clown! I studied economics for 4 years, and unlike the Charlatan Economists, I actually LEARNED what I studied.
Michael Hudson is one of the few legitimate economists.
@@mycroftholmes766 what university would that be?
So glad to see Mick Dunford continuing to join these brilliant conversations!
does he always look like he's seen a ghost
@@10babiscar lmao
The best hour is here! Thank you very much, Professors Radhika Desai, Michael Hudson and Mick Dunford, for your remarkable knowledge: it's always very enlightening!
Best guests ever. Top of their game. I treasure every truth out of their mouths.
"Free the Economy from the rentier sector."
Dislodge the 200-lb parasitoid that is currently blood-sucking the 98-lb weakling.
This is really funny. The average weight of a male adult American is indeed 200lb. The average weight of an Eritrean is around 98lb. USA has been sanctioning Eritrea since 2021.
Great discussion thanks for providing clarity for some of the historical changes that are taking place
Wow! YT really dislikes this content - interrupts the discussion every two-three minutes with ads to make it harder for viewers to follow what it being communicated.
But not new for YT to seek out & practice ways to both disrupt & profit.
I'm 3½ minutes in and TH-cam's already inserted two ad breaks totalling 35 minutes. I just plucked out my earbuds and let them run. 😂
If TH-cam thought that the info in this discussion will lead to a better world it would not be shown its being shown to assimilate " both sides of the argument " they do bomb countries into rubble including babies and grandparents why do you think they have morals
So many more I nearly lost count, but had 10 more ad breaks before I finished (another 52 minutes!).
Google's CIA contracts must've been especially generous this year.
Disruption and profit are indeed critically linked in the history of the asset stripping jackals who brought slavery and drugs to America.
To be honest, the adverts to promote the products and programs became counter productive as the constant interruption start to make me annoyed with the advertisers rather than you tube
Zoltan Pozsar: “you can print money, but you can’t print the oil to heat, or the meat to eat”.
I do think the world need an alternative to many things the west offered
Thank you for the newest installment!
Great show. Brilliant explanations by Michael, as always. Much appreciated
Thank you great education.
This was an enlightening discussion. I hope the BRI expands and the BRICS continue to increase in numbers, but the goal of a multi polar world without a more structured economic foundation seems an open ended resolution.
I think the point is this economic foundation can only be built cooperatively with all the nations contributing and putting forward suggestions and ideas stemming from their own concrete needs and capabilities. For me, the question of economics is always political first and foremost, rather than an a priori 'science'. I am sure the global south countries working through the New Development Bank are tackling these issues head on. And with the increased belligerence of the US and Europe, it seems like they are making good progress.
@FREE HONG KONG BRICS and they'll eat you for breakfast when they can be bothered. Id JIT.
I was a bit disappointed with this discussion. Surely China does have an internal model based on dynamic planning, public ownership of finance and key industries combined with a large private sector, all governed by a non capitalist state. If one talks about a neoliberal model in the West then China's radically different economic system deserves to recognized as a model.
Similarly, China has a very different non imperialist approach to international relations.
I was hoping that this would be more clearly spelled out in this session along with some perspectives on how the new geopolitical reorientation might develop.
You shouldn’t be disappointed in not getting a clearly spelled out alternative international order... isn’t the best lesson from the emergence of a non-colonial, populated & poor country like China that it CAN be done with pragmatism, self-determination, and NOT adhering to the neoliberal doctrine or ANY doctrine for that matter. Hasn’t the world/global south had enough of western indoctrination, enslavement of the mind, intellect, & spirit? Are they so eager to look for another master to worship, a shining beacon to look up to? & even if China wishes to introduce an alternative model, how can it do so without triggering WWIII & the destruction of us all because we know that the west will want to hold on to their economic & intellectual rights supremacy like a dog with a bone at all costs. Perhaps what the world needs is not another doctrine to reach for, but a bit of self assessment and pragmatic determinism
Top tier discussion as usual…always informative and interesting. Thank you for all you do! 🙏🏾
Great discussion, as usual. I wish there were more geo economic panels with this level of clarity on the internet. I hope this channel grows. Well done!
Was fantastic to be introduced to the thought of Mick Dunford. Thanks for hosting him!
Top vid! Really enjoying this series 🤩
Look forward to your next discussion. Thank you. 🙏
So refreshing to listen to this discussion by people who know exactly what they are talking about.
Thank you GER and Radhika, for presenting us with another valuable story in support of Socialism with Chinese characteristics. China is now in effect demonstrating to the world that because Information Technology (IT) and Artificial Intelligence (AI) now influences so much of human story telling and behaviour; that the time, effort, intelligence and taxes being spent by liberal democratic multi party forms of governance in which such parties must oppose each other - no matter what and occasionally resulting in violence, that this is now an unnecessary and relatively inefficient form of governance. So called Chinese 'Netizens' are in effect demonstrating how IT and AI can now put such political resources and effort to much better use, thereby providing themselves with a more sophisticated single party form of governance using what the CPC refers to as 'whole process people's democracy', a form of democracy and governance that has proven over recent decades to be relatively more capable than most - if not all other forms, of meeting people's social and cultural needs.
Another excellent program 👍 Thank you 🙂
Admire Mitch Dunford’s pragmatic, realistic remarks on China
Thank you.👍🙏🙂
What more can I say. Thanks Radhika, Michael and Mick
Love this group discussion on all related economic issues
Outstanding! Thanks to all three presenters for enlightening us.
Vietnam gave the Pentagon nightmares and PTSD because Americans were massacred by pyjama clad Vietcong, and In spite of massive air support. The number of american fatalities were very much higher than officially recorded. It is the MO of the USAF that the enemy always suffer more casualties than itself - a ratio of 20 to 1 in Vietnam. While US killed mainly Vietnamese civilians, the Americans casualties were mainly military personnel and it is known by war correspondents in forward bases, that the fatalities of Americans were in the region of 500K or more. This was unacceptable because many families in every state of US were burying empty coffins of their children, fathers, brothers etc. Hence, the undignified escape from Saigon captured on film. After that, the Pentagon decided that there will not be boots on the ground in any fighting where american soldiers will be killed in large numbers. Thus the policy change of using proxies where possible. Ukraine and other SEA countries are being pushed to fight Russia and China while US just provides the ordnance. Basically, the US has lost its balls and is afraid to go to war with a major power. All the money allocated to the armed forces went into the pockets of some generals, the MIC, military contractors and state dept officials, not forgetting the lawmakers in Congress who approve all these corrupt practices. .
You seem to forgotten about the end in Afghanistan. More boots leaving the ground clinging to planes.
Yes, the economy only grows by creating added value which is production and agriculture. If GDP is growing by raising rents or selling stocks to each other, it certainly feels like pyramid.
An artificially inflated economy based on cheating cannot last forever, it's imploding soon
Fantastic!: clear, expansive, informative. Thank you.
We enjoy these talks greatly and feel more informed everytime. Keep up the truth telling. It'$ worth our time to listen and learn. Thanks a million team :)
Excellent updates, Thanks everyone, very interesting.
Great show. Hope the viewership increase and best wishes.
Ironically, this important conversation was interrupted by a YT ad for the New York Times, which of course scrupuliously avoids any criticism of US imperialism or neoliberalism or mentions the decline of western global hegemony.
Kicking of can's down the road are comings to an ends.
The cans are fully dented,the cans can hardly move anymore.
Look like kicking of bucket may emerges.
"Inflation has returned to the United States because it's ability to compel the rest of the world to sell it goods and services for nothing is declining."
Thanks for this succinct articulation of inflation
Very interesting discussion. Thank you all
Great show, as always.
thank you all for your work. this is a voice the world greatly lack..
Pardon the naivete of the question, but the US policy since the 1980s was to shift the industrial base to China. Didn't the elites know this would lead to serious difficulties? Did they care? Did they just think they could handle problems that were caused by this? Maybe they didn't care/hubris . Maybe the indivicuals who made this policy shift(think it was under Reagan when his administration greatly increased the tax on labor - ss increase to 8% I think) . The US elites killed their own empire in order to decimate labor in the US ? What were these people thinking(or not thinking about)?
That's what I always say! How could the system dare to complain when it's obvious to us that they sold us downriver?
Kudos to Brics, ... 🎉🎉❤❤❤❤❤
Excellent thank you
Sullivans speach was the pivot to industrial policy away from neo-liberalism and globalisation. Lagard gave practically the same speach a week earlier.
This is it, world is changing.
Mass transit is liberation from car debt
US's MIC recorded 200% increase of profit, and many income will only show up in financial statements for the next few years, so the real profit because of this war is huge.
This is an amazing episode! Thank you!
Great info that I keep rewatching.
In the context of Mick Dunford's comments on China's capacity to systematically address inherent contradictions encountered during its periods of development it's worth highlighting Professor Wen Tiejun's series of lectures to be found at the Global University for Sustainability:
th-cam.com/video/YdTGM10HbT8/w-d-xo.html
Europes industrialized countries are underperforming and have minus in zero growth and the representatives of the EU parliament applaud this as right
Insightful discussion. Thank You
Fantastic comments and insights guys. The level of historical, economic and political literacy in this chat room is best-in-class and very refreshing and I was learning all the way through 👏 the insights from Mick about China/the Chinese political philosophy were super interesting to me (as I have very little knowledge in this area), and not entirely unexpected either. Another interesting point to note is that neither China or Russia views nationality and nationalism as the same thing, in the same way that some capitalist/imperialist/fascist nations do. The original divide and conquer tactic. A bit like the hunger games movies 😅 more of these guys please! 🙏
I think we all need to bring back the ancient practice of Secessio plebis
Great discussion
This program is a shining beacon of hope on the midst of so much pro capitalist litter that pollutes the internet
The US financial system is based upon a shaky foundation.
excellent but hard to hear Nick at times as voice fades and gets tiny
Very painful sibilants.
Lindsey Graham just said; "Russians dying............ is the best money we ever spent".
Showing his grasp of economic theory.
That belong to your criminal nation
America's spokesman said to Zelensky that money spent killing Russians is the "best money we've ever spent". Better spent than on helping Americans with medical bills or homelessness or food or tackling climate change?
Graham: Yes!
Unfortunately far more Ukrainians r being killed
Great guests
All these situations have happened because of some people's greed and selfishness, today the whole world is standing on.😃😃
thank you, great video! as always 👍👍
Good stuff as always
This is very true thank you so much
Maybe the key is to redirect the military industrial complex to the infrastructure and space industrial complex such that they're guaranteed to at least make the current amount of spending ... new contracts are then awarded to the most competitive companies.
While reading the video's text , I came across a confusing French sentence that I couldn't find the meaning of through searching.（“You know, René Mignon, Comte d’Antilles, global civilization shared prosperity in the world”） Then I immediately watched the video, I realized that the professor used Mandarin to say "A community of shared future" here. Well, it's another story of the Tower of Babel. I empathize with the copy editor，I had a similar experience of reading
Alan Greenspan was discredited for his handling the Federal Reserve.
Alan Greenspin will be spinning in perpetuity.
Decay is the right word for the Dollar.
As a Chinese I totally agree with Michael. Now the government just talk the talk, not walk the walk. There is a lot of vested interest in the old way of development and a struggle is going on between the old and the new.
The time for a changing world order has arrived, n China is taking the lead
Don't worry we'll 🇺🇲 be dealing with y'all soon enough ☢️
@@TacticalMayo This is a class war diversion and you're a worker.
I'm glued to this channel...BRICS AFRICA.
Why not repudiate dollar and western currency based debt but also calculate and declare reparations debt on America and all historically benefitting Western former colonial powers and culpable-descendant corporate bodies and institutions. Reparations debt to be related to long term historical issues such as transatlantic slave trade economies, various genocides, etc but also all of the more recent depredations such as Iraq War, Libya, Afghanistan etc.
In an impending scenario where dedollarisation systems are put into place and 85% of people on 80% of the land could form a bloc and choose via sovereign state policies to seal the West into itself - and only trade with the West on favourable terms in that newly imposed world order context - what could the Western nations do other than stamp their feet and accept the medicine?
That scenario could surely be achieved in the relatively near term say between 20 to 30 years time? (With or without armed conflict...)
The guy with the crazy eyes is back🎉
Great discussion. So when did it all start? When political sociopaths were afforded adult authority. Hierarchy is a privilege creating structure that is sociopathic in its inception. Economic hierarchy being the most destructive to the society. It interjects competition into contexts where only provisioning is required. It detracts from the goals of healthy society creation with competitive conflicts of interest such as click formation, withholding knowledge and resources from the provisioning processes, and with the general distractions of conflict. Capitalism is the mechanism by which political sociopaths establish the hierarchies of dominance. This is why we should never afford political sociopaths adult authority in a society that seeks to be healthy and holistic. Political sociopath: Someone who is willing to do harm to another for the sake of opportunity, social capital, hierarchy, profit and/or pleasure.
All governance will descend into oligarchy and fascism at rates that are determined by the quality and stability of its consensus seeking strategies, the tolerance of bad faith actors in its processes, its best practices policies and the documentation of data that goes into the making of its policy choices. They cannot be compared outside that framework in regard to speed of that descent. Consensus seeking strategies are what create the possibility of a society. Anything less is a war zone.
As a recent college grad from a midwestern university in the US, where I‘ve receieved a bachelors in Neoliberal Propaganda, this series and Michael Hudson‘s writings have been eye-opening. I started to feel toward the end of my degree that I was not been taught the truth about how the economy functions, but could never quite grasp what was missing. Now I see that the American empire depends upon the subjugation of poor countries, of course assisted in this by its European predecessors, and the whole roster of foreign aid (theft) organizations, think tanks (propaganda manufacturers), and international bodies of law (arbiters of imperial will). I used to think that the American system was one which for the most part, functioned well and democratically, with a lot of corruption that seeped through the cracks, but now I see that the rot is, in fact, the core of the system. I work in the finance industry here and am faced daily with the utter cognitive dissonance that results from seeking to understand the truth about history and the US‘ role in it, and the forced state of delusion I put myself in as an employee of this sector, as a functionary of this whole house of cards, just to make a living. I really wonder what one is to do as an individual seemingly caught in the gristmill of the grander historical process. Do I seek escape from the sinking American ship in a place like Singapore or Switzerland? Or do I just hope for the best and try to live my best life here? Questions..
I am a medical researcher so I don't think I can give you economic insight but just from human to human I would say if it's already weighing on you working for an imperialist house of cards then maybe indeed look to move to countries where you can actually help the working class, maybe offer your services as a visiting professor in African universities (I am African) or Latin America. Invest meaningfully in developing nations whilst if possible learning economics from actual working economies, that of China and Russia.
It's a conundrum indeed you are in but it can't be healthy in the long run (my medical side coming out).
I promise you when the United States sinks the whole world will sink with it ☢️
love you guys. would love to know what you think of Nigeria removing oil subsidies. Thank u!
someone needs to explain to Radhika how to pause when she's thinking not do the "uh uh ah uh"
Nice cup Michael ;)
the problem I see in Latina America and the Caribbean is leadership, different stages of development, the lack of clarity regarding imperialism, reforms that are not deep enough and the lack of the leadership to involve the peoples of our countries in the process of getting out of capitalism. I think the exceptions are Cuba, Nicaragua, Venezuela, Bolivia, maybe Mexico. I hope Petro does not divorce from the people that voted for him. Argentina had a great opportunity not to negotiate with the IMF that broke its own rules lending over 50 billion dollars to Argentina, Fernandez could have done what Correa did in Ecuador with the foreign debt, but he didn't and Argentina is doing very poorly. Thank you for your program
Can you guys have a conversation about India and china’s relationship…. Why there is no economic integration and why India didn’t sign up to the BRI….
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Given the discussion of environmentalism, I wonder what Mick would say about the dimensions of Chinese development that are occurring elsewhere, for example food growth in other countries, including pig farming in the US. I noticed that Lee Camp did a video about this yesterday or today. How is the food and animal/plant system being improved, if it is?
for Radhika: would it be too much to say the US entered WW1 in 1917 and WW2 in 1941, once the 'allies' were exhausted and had been indebted to the US as much as possible and only when it decided which was the winning side to come in with? I have no opinion. Just been wondering a long time.
There must after all be a 'Chinese model' but they don't want to let on. maybe learning from the Japanese jingoist rhetoric in the 80s before they got ordered into stagnation by US? (that would never happen to China anyway)
A policy of There Is No Alternative to the dollar system doesn't address the issue of the dollar system imploding. Is this an issue?
Great discussion. However, I was disappointed that the other two pushed back (more like, dismissed) Michael's call for the need for economic concepts. Also, all three in talking about how the non-western world can learn from the China miracle seem to forget that that miracle was absolutely made possible by American corporations seeking cheap labor. I mean, talk about laying a trap.
You are falling for American propaganda. Cheap labor is everywhere in the non-developed Western World. Ask yourself why Western corporations chose China instead of other countries (i.e. democratic India)....I can tell you if you ask. Why have other "cheap labor" countries not been able to duplicate or exceed China's economic success? Also, America did not send it's manufacturing to China until after 2001 (when China entered WTO) because America imposed sanctions on China from Tiananmen Square events (1989). The first foreign investors in China beginning in the 1980's were other Chinese (Taiwan, Singapore, Hong Kong and other Chinese diaspora) and later Europe (France, Germany, Italy etc..) in the 1990's. China''s rise is due to foreign investment, CPC leadership "5 year plans", Industrial Capitalism and State owned Banks directing credit among other things (human capital). As for Hudson's call for economic concepts, agreed, there should have been follow up. However, Hudson is a rare genius. Not many economists in the West think at such a high level therefore a "prepared" reply might be necessary.
All these situations have happened because of some people's greed and selfishness, today the whole world is standing on.😃😃😃and every single people is paying off😆😆
Good program. I enjoyed listening to Mick. Nice to hear his perspective. I came from the Pittsburgh area which in my youth was a very grimy industrialized city. It subsequently cleaned up its act so environmental improvement is possible and a good thing most of the time. I take issue with Radhika’s view on global warming, which she has mentioned before. Global warming is advanced in the propagandized MSM as a fact when it is controversial and not a fact at all. It is used in the west, particularly Europe, as an imperialistic tool to impose food, industry and energy shortages, the worst form of austerity and a Malthusian death cult. If Radhika is correct and Europe postpones the green advancement, so to speak, during the war in Ukraine, it will Save lives and stop the pollution caused by nonbiodegradable, noisy animal repulsing and bird killing, repugnant eyesores of windmills and fields of nonbiodegradable solar panels taking up agricultural space in Greece. As an Indian, Radhika might understand that Malthusian principles supporting imperialism and based on pseudo-science killed over a million Indians. I believe Ben Norton did a program on that topic which I have yet to watch.
Great show! I am from Brazil and even though Lula was elected Brazil's president, brazilians ironically elected a miority of right and far-right wing politiciana for the Brazilian Congress. And in doing so, they had set Lula into a trap where he can't put in practice his program, because there is no enough votes on the Congress. Rather, the Congress in Brazil is working along with the so called independent Central Bank to undermine any attempt from Lula's team to follow a more progressive path. That is the environment here in Brazil.
Like elsewhere the naive n politically ignorant Brazilians have fallen prey to the US sponsored anti China fake news propaganda
Question: can we have an accurate view of the US economy without taking into account the colonial-esque control/ownership US corps have over assets in foreign countries?
Radhika Desai is undermining Michael in my opinion.
She's taking over his authority & status.
Maybe indebted countries could create local currencies that do not create debt when issued (and maybe like the secondary curencies in some older societies that worked on the opposite principle of interest which is demurrage i.e they lost some value over time and were recalled periodically, stimulating circulation/availability)
China's Social development is based on its internal condition in relation to external contradictions, a modern civilization connected to its historical past . From its own feudal past ,to Mao's economic arrangements ( 1. Heavy Industry- Public 2. Medium Industry and Agriculture - Cooperative 3 Light Industry -Private ) To Dengs' Opening up , To Xi's Socialism with Chinese Characteristics and a global development of Shared dreams.
mick says :you know : too many times
Radhikal
This guy on the bottom "Mick" has a voice that sounds like someone scratching the chalkboard with nails .... OUCH!
There is more than one alternative.
WITH REGARD TO THE MISSING FRAMEWORK OF CHINA'S NEW WORLD ECONOMIC POLICY - THE WORLD WILL SIMPLY HAVE TO DEVELOP THE ART OF WATCHING AND LEARNING as all children do!
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39:37 I appreciate the knowledge you are sharing. It takes capital to generate currency. Until you understand that, you give criminals permission. Please correct the language.
羊毛出在羊身上
Literal: Wool comes from the sheep’s back
Figurative: Nothing is for free.
th-cam.com/video/fpS7-PmsuDs/w-d-xo.html
I could listen to the brilliant Professor Michael Hudson for hours and soak up everything he says. Not so with Desai and Dunford: Desai dominates the conversation and does not do a good job of framing what she is trying to communicate, while Dunford I can hardly hear and find my mind drifting from boredom. Why not just have Ben interviewing Professor Hudson instead of including two people who are a strain to listen to?