It is true about EVERYTHING in USA. US health care system is health care BUSINESS, US home insurances is BUSINESS model to scam home owners with legal jargon. US pharmaceutical industry's goal is to make you taking pills for the rest of your life (permanent customer base).... You name it!!!
That's just wishful thinking, both Democrat n Republican parties know that the military industrial complex would not allow that to happen, both parties' self-interest politicians are not going to allow themselves to be out of job. No politician in America is going to be elected without money from the powerful lobbying groups; military industrial complex is one such powerful group.
"It's merely a conflict between Socialism & Barbarism." If America's Oligarch class doesn't change it's "short term gains" philosophy, ditch it's greedy & selfish ways, soon.... The concept of America is Finished. I've been saying this for years, but it's words from people like Micheal Hudson that validates my perspective. Thanks for sharing your genius Micheal Hudson. Thanks for this post.
The ruling elites won't change. Only the people can overthrow them as shown in history in different time and country. The problem is the people of the US is still too rich to rise up and overthrow their ruling elites. The poverty rate is rising but not anywhere near the breaking point. The US will fall and there will be revolution, but not in the near future.
The current mode of the globalization started with the political decision of the United States to stimulate the economic development of Japan so that it become a counterbalance to the Soviet Union and China in the East. As a result, the custom taxes were removed in the United States on the import of several industrial products from Japan notably textiles and consumer electronics. The results were impressive. Japan did propel in its economic development, with the standard of living significantly being improved. Simultaneously, cheap, diligent and industrious Japanese labour ensured, in the labour intensive industries, the very low production costs which benefited the US consumers. Most importantly, the corporations involved enjoyed huge profits . When the salaries in Japan increased, the profits from the labour intensive industries declined. To maintain the profit or the corporations and the flow of cheap import of consumer goods to US, the new pattern of globalization was extended to so called five Asian tigers. The taxes on their export were decreased or removed. As in case of Japan, many industries including garment, textile and consumer electronics moved to those countries. Again, with the rise of labour cost in Asian Tigers, this process was repeated with the inclusion of some other countries, particularly, ASEAN economies and then China and India. Everybody seemed to be happy. The new trend of globalization was eventually legalized in WTO agreements. But there were many seemingly unexpected side effects. Although, many developing economies, mentioned above, and even some developed countries like Germany have benefited from the globalization many other nations and their people have not been so fortunate. For instance, Arab countries, which are not oil producers, were not able to successfully compete in the new open economic environment. Their agriculture has been also damaged by the opening to the highly subsidized agricultural import from developed countries. Resulting deteriorating living conditions was the most important cause of the Arab spring . Similar results of the globalization are evident in many countries in Africa and the Latin America. This trigged many military conflicts in and the waves of immigrants from Africa , the Middle East and Latin America to developed countries both in Europe and America The global elite which has gained tremendously from the globalization is not worry of the plight of developing countries and their people. The immigration is even beneficial to the corporation as it allows to suppress the labour cost in the developed countries. But there have been others unexpected results. Most importantly, with many industries being moved from developed to developing countries, it appears impossible to maintain the level of life the people enjoyed in the second half of the last century in developed countries. Everywhere, the real incomes are going down , people have to pay more and more for the medical care and the education. The discontent is growing all over the wold resulting in backlash against the current economic system. It may be useful to recall that the initial wealth accumulation in the developed world started with the colonization and slavery. Then, it was discovered, that it was much more profitable to import cheap natural resources from developing countries, make value addition through manufacturing and then export back the product at very high price. So called the ceases of prices brought to the developed world even more wealth than the inhuman colonialism. As wealth was created within the countries, it was sheared between the elite and people. This ensured social and economic stability. As many wealth producing industries move from developed countries, there was a hope that the service and financial sectors became the back bone of their economies. However, the current development seems to support the view that the financial and service sectors only create wealth when they are the integral part of the real economy while the financial manipulations and speculations only increase the number of billionaires and the shear of the financial sector in GDP. The fiat currency capital has appeared to not sufficiently trickle down to the real economy to support sustainable development. Neither it has trickled down to the ordinary people with the wealth gap growing all over the wold. With the shortage of the wealth generated nationally it has been compensated by increasing debt. To stimulate the national economy , maintain the standard of living and purchasing power of the population and produce the public goods the governments at all levels and as well as the people have to use more and more borrowing. In some smaller cases, the some national or local debt problems seems possible to be resolved through austerity but there is no much understanding what to do when much bigger countries, states or segments of population are involved. For instant, only US government has accumulated two trillion US$ and does not anything to resolve the problem. There was also a hope that the wealth continued to go to the developed world attracted by the financial centers , tax havens or real estate opportunities. It works but money flow again appears to be insufficient to support the current standard of living and sustain the economic development. Moreover, it is not clear what would happen to this inflows in case of a serious crises. A part of the elite continues to be fully satisfied with the current model of the globalization. This part represents the transnational financial and other global corporations addicted to the profit maximization at any cost. Their CEOs depend on the today's profit for their positions and benefits. Their shareholders are looking to maximize the profit now. These people are not capable to look into the future. The other part of the elite, mostly family owned , is worried of the deteriorating social and economic conditions and the rise of the alternative political forces, both right and left. Most frustrating to the elite is the fact that one of the major results of the globalization has been tremendous shift of the real wealth producing manufacturing industries to China.and the rise in political, economic and ideological strength of the communist China Consequently, the later part of the elite, wants to change the current globalization model and return the wealth producing manufacturing machine back from China and other developing economies. They already have great election successes in US and UK under slogans “America first” and “ UK first”. They also like to review the current economic agreements including those under WTO which so greatly benefited China. These above election victories and the followed actions met with strong resistance from the other part of the elite addicted to the short term profit. This represents a great split of the elite which makes the whole current capitalist economic system weaker. Most likely, it is now impossible to contain China economically even with igniting a trade war as it is already equally strong and in little more than fifteen years China would be two times economically stronger than US. Unfortunately, there might be a desire of the most extreme part of the elite to contain China military. China is now much weaker military then US not speaking of NATO plus Japan. However, China has nuclear deterrence which makes any military conflict absolutely dangerous. Furthermore, Russian military power is still formidable and its position will be crucial in any military confrontation. Combined military power of China and Russia puts them at least on equal foot with US and its potential allies. After the end of the Cold War and the disintegration of the Soviet Union the West discarded Russia as a political or military power and consider it as a devoted Western puppet. It totally ignored the political and economic interests of Russia and actively promoted Russophobia in the former Soviet Republics and beyond. Actually, the Russian establishment which transferred to the West at list one trillion US$ would have been happy to become a part of the global elite. Majority of Russian oligarch moved to the West and even changed their citizenships. However, they all were treated as second class people and were threatened with confiscation and even imprisonment. Not surprisingly, a part of the Russian establishment had become patriotic. When they decided to protect Russian interests the West tried to use its economic power to force it to comply with the West orders. Ironically, anti Russian position of the West including the NATO encirclement of the Russian borders and the economic and political sanctions and pressure had the effect quite opposite to the West expectations and pushed Russia closer to China in all areas. Ideologically, however, China and Russia are on the different sides , especially as Russian Establishment abandoned socialism. So, there are some voices in the West calling for the reload of Russia -West relation in a hope that Russia distances itself from China. However, because of the continuation of the chaotic and unfriendly policy towards Russian it will continue to move closer to China in the near future. It gives China sufficient time to overcame any attempts to its economic and especially military containment.
usa is already beyond saving. the thing is the idea was always bs. capitalism since 1789 was no favor to the workers. it all has to come down and be built over as socialism, but since people cannot see it, one serving of barbarism coming right up.
I've heard Dr. Hudson speak many times on various programs, but I've never before heard him pull it all together (i.e. the U.S. vs China/Russia) the way he did here. I'm going to have to listen to this a few more times...
Don't listen too much as you are being misled. You want to know what is happening? listen to world renown names like Peter Zeihan, George Friedman, The Hoover Institute. Peter Zeihan has gained a lot of traction lately as many of his forecast are coming true.
I always said, FDR neutered Britain before helping out the Brits in WW2. The neutering of the British empire by the US wasn't enough, we also forced them on "technology transfer" for good measure. Why not have their tech too when we going to steal their empire from them. Yet the Brits, are still happy thumping their poodle tail when Uncle Sam walks into the room.
The British did try after WW2 to plot an independent foreign policy course, but this all fell apart at Suez in 1956. Britain and France, with a secret agreement with Israel to provide cover, tried to recapture by military force the Suez Canal, which had been nationalised by Egypt. Eisenhower forced a withdrawal while the invasion was underway, humiliating its allies. After Suez all three - Britain, France and Israel, changed how they dealt with the USA. It was a major turning point in their histories. Britain decided on the poodle strategy, as you correctly observe - always be America's best and keenest ally. Britain also rapidly accelerated the dismantling of its colonial empire - which gave US interests full access to these territories.
the size of britain have no choice but to fall in line. if you look at history, most powerful and wealthy are always the biggest country in population. industrialization phucked up india and china, given peace time they will get to where they should, just a numbers game.
Hudson rules. A brilliant, vastly experienced economist who explains to us, the victims, the breadth, depth, scope, and motivations behind a suicidal and rapacious economic system. Nice to be acquainted with your executioner.
A profound, competent, knowledgeable, western intellect to comment on China is Cambridge Uni Prof. Martin Jacques who spent 8 years in China as adviser n consultant to China govt. on broad issues of geo- political, socio- economic n other issues of China n the world at large.
US has only less than 300 years of history whereas China has more than 3000 years. US politicians are shorted sighted, selfish and hypocritical whereas Chinese politicians are working for their people and harmonious. Hence while US’s economy is declining and defence budget is increasing, China’s economy is increasing and defence budgets stable. 路远知马力 is an old Chinese saying which simply means: in times of competition, we shall see who can last longer.
Quite illuminating perspective from Prof Hudson: US is trying to impose an iron curtain around China and Russia to prevent these two countries from integrating with East Asia and Europe, respectively. Previously, in Cold War 1.0, the iron and bamboo curtains were self-imposed. Now in Cold War 2.0, it is being imposed by USA. Thanks!
How a great intellectual can say so much in a short time. Amazing. After listening to him for 15 minutes I have the impression that I have read a book!!
This perspective about two clashing systems of financial- what have you done for me lately- capitalism and Industrial long term development socialism will never be mentioned in our media.Our elites are hiding their collective heads in the sand in the hope that the club of socialism wont knock them in the head. Gramsci wrote about the interregnum, or time in between, where the old is still with us and the new hasn't yet come to pass , in these times, he said, monsters appear. hopefully we wont see the monster of fascism here as our capitalist system no longer is able to provide the goods. hopefully the US will go down gradually and embrace the change to a more rational economic system. . But i highly doubt it. I think they will fight to the bitter end and take a lot of people down with them.
I think it would have been best for Michael to give his presentation after the other 3 speakers. Love his statements that become more obvious as time elapsed. He knows history well and doesn’t need props and graphs to best communicate concepts and ideas to us.
Some years ago there was a documentary on BBC TV showing how the US undermined and took over the British Empire - Rubber plantation in East Asia owned by Dunlope pre ww2 became Firestone..... etc.
From Adam Smith's time, this relationship between capital and labor has been operating successfully for hundreds of years and has proven to be the strongest and most stable human relationship. To date, no second relationship has matched or challenged the stability of this relationship. Modern economics and political science are built on this relationship. The Sino-US relationship can roughly be rounded to the relationship between labor and capital. China under the leadership of the Communist Party represents the working people, ie., the labor force. It's just that these are not ordinary working people; they are organized working people with a historical mission to accomplish. China recognizes that the world is still dominated by the bourgeois ideology (rule of law) that began with the bourgeois revolution hundreds of years ago. The plan is to raise and feed these rentiers/parasites first, then slowly make them Irrelevant in the world's supply chain, and gradually remove them from the decision-making circle. China believes it is totally irresponsible to entrust the future of humanity and our planet to a reckless and irresponsible entity like the United States and a few controlling capitalists. That is the real reason that China decided to join the competition for supremacy. Are Japan and Germany led by the Communist Party? Is the ruling party a bourgeois party or a working-class party? Which class does the UK, Australian Labour Party belong to? Who sets most of the rules in our world today? Without class awareness, one may get lost. The whole world appears to be a superficial competition for military might and hegemony. In fact, the whole world has been developing according to the script written nearly 200 years ago. The playwright's surname is Marx. Today's development of productive forces and scientific and technological progress has put forward a greater and higher demand for new production relations and large-scale social production, one that is no longer met by the old and obsolete bourgeois. After four or five hundred years of development, the labor-capital relations created by the bourgeois revolution have shown signs of fatigue and incompatibility, and have begun to limit the further development of productive forces. And that's where the socialist market economy of China comes to the fore. The CCP is betting on two things: 1. Marx’s prediction nearly 200 years ago was right. The hands of laborers create the world, and they will also create a new future. They are the gravediggers of the bourgeoisie. 2. Although the Chinese nation with a farming tradition is not explosive enough and was once overtaken by the marine civilization of the West, once it finds its own rhythm, it will use sustainable development to eventually replace the unsustainable Western pirate tradition of a marine civilization, even if it means that our less-than 20% of humanity have to feed the rest of the world.
In cometary below video presentation of profesor Hudson I can find somuch truth hidden in mass media and also in school system, so I enjoy read commentary like yours, tanks
Profesor Michael Hudson tank you for your knowledge and real truth about economic system and geopolitics, after watching some of yours video reality about us have much more sense, because peopeole can watch only lies from mainstream media and wonder whay they world and stardard of living disappearing
They thought they could corrupt their way into buying up all of China's essential assets: utilities, heavy industries, banks and take over the country. That's when the Xi jin ping clan came in and restored order and why Xi is now public enemy no1.
thank you radhika. michael hudson has an excecllent marxist knowledge base. i luve his explanations for the debt of asyria and egypt where debt was regularly canceled as oposed to rome where debt was used to rule with slaves, so there were debt riots and debt mass movements. michael also spoke of the utilisation of world bank in the 50s/60s/70s to indebt africa and latin america to produce plantations based cheap foods for export in the us as industrial goods where as the conutries will destroy the local production of food and therefore make these countries in huge dollar debt. banana plantations, cocoa plantations and so on. world bank is a terror imperial toll of the colonial bastards. regards from macedonia kiril minanov
Hi All, Thanks so much for this discussion. Been teaching this stuff well over 20 looooooooooooooong years, and have come the informed conclusion that simply put: we're in 'historic evolutionary times' or as the Chinese rightly say: 'interesting times......' We're in the epoch of the ending of US Empire and like all past empires... metaphorically, like a blackhole will attempt suck into its black, dark, core abyss everything else... I don't think that will happen: It's simple, we live on and share a very lonely planet with a BIG EGO... and mutual cooperation and trust are forcing into the background the petty 'tit-4-tat' political issues and our shared environmental and global economic crises are arising faster than conventional politics and economic thinking can comprehend.... It is now time to take a very deep breath and seek COOPERATION: Russia + China + US + and the Global South together: we can move forward together.... the alternatives are dark if we fail to unite on a common global goal... the question remains: Can US and western leadership have the political will...?
The answer is no for one simple reason: the West has no leadership. We have puppets working for oligarchs. None of these clowns feels responsible for anything beyond making a personal fortune.
The whole talk was about America Dominance and Hegemony ... this is in contrast with Human Co-Existence (that Earth was once a piece of Land which Hudson also mentioned). If only the World is at Peace, regardless of which Countries or Economic System each country adopt ... Why talk about War? Why 800 Military bases around the World ...etc. Alan Freeman mentioned the reason for America Decline is the lack of Growth, Infrastructure not because other Countries - One cannot blame, ones own Performance for other Country's Growth and Meritocracy. Globalization was started by Western world, so is Capitalism - The movement of Companies away to other Countries due to cost of Labor is the start of Decline.
Japan has memories of once being in charge of China and once had a marshal relationship as a controller from the help of the British and Americans but has never seen that the Americans have always seen them as one and the same people including all Asian looking peoples.
Funny how this video detailing the ways that the US and western systems cannot prevail does not list the number of likes. Do you think that is an accident?
Michael Hudson precisa ser mais conhecido pelo público brasileiro. O Brasil tem através de sucessivos governos, substituido os seus interesses pelos dos Estados Unidos. O Brasil está condenado a ficar estagnado. Para todo o sempre.
Sounded like Raider of the Lost Ark. How the German were employing archeologists to look for weapons of supernatural. In American’s case, looked for an idea to support their hegemony., the ultimate superpower. The problems are Greed and hungers for powers and wealth, are both ignorances. One can never had enough, never satisfied.
I just so dearly hope everyday that our politicians in India would take active steps and reconsider a lot that is happening globally to drive India closer to China. A big no to US. Simple. Americans- Yes, American Govt- A BIG NO. I hope it happens soon.
Where did they find the map ? The few hundred million year ago map! Gee the Americans are pretty lucky to find such an ancient map. It must be worth trillions….at least 32 !!!😂
this guy is way above my head....i grasp certain things...but he is throwing around so many links dependencies history and relationships that i always get totally confused.
Days before my father died in 2005, a man who had fought in the Korean War and then went on to be a civil engineer on the Milwaukee Road and worked hard to build for the future only to become disgusted by the abandonment of our great industries, said to me: " I fear that my grandchildren's children will see Chinese patrol boats sailing the Mississippi to protect Chinese interests." Sometimes I wonder about that. A far cry from the photo my grandmother took from the California coastline in 1946 of the Pacific Fleet of the US Navy as far as the eye could see, home from the war. A photo stolen so many years ago.
sailing the Mississippi with patrol boats? you'll never understand China if you keep using western lenses. thats exactly why all western prediction about China is incorrect.
and you carry that same thinking as your old dad is the reason this country is going down. do you want to wake up to a new century or do you want to listen to the fear mongers of Trump or whoever is in power,
@@choikluHmm. The point is being missed. China endured two hundred years of humiliation, falling from the world's largest economy to poverty with constant internal interference by foreigners and occupation by foreign militaries. Now the United States of America is in decline, our standard of living rapidly declining. Will America have the internal capacity to protect Chinese investments within America? Or will China have to send assistance to aid in maintaining the security of China's investments?
@@lynnwood7205 at most Chinese companies will hire Americans to protect their investment in the US if it comes to that. I dont think they will call in the chinese army to protect those investments. Their investment in Africa, Pakistan, Myanmar is solid proof of that
So Aston Martin, Rolls Royce, jaguar, Bentley where terrible British car manufacturers that made terrible cars which broke down all the time. Ummm! Well thats not true.
I listen to Professor Hudson over and over again, which ends up being worth it because of his perspective. However, it can be painful because his talks are wildly disjointed and confusing. I have now listened to this talk several times, and I think I get it - maybe.
This one: The US military is not a fighting military, it is a spending military and a profit military.
It is true about EVERYTHING in USA. US health care system is health care BUSINESS, US home insurances is BUSINESS model to scam home owners with legal jargon. US pharmaceutical industry's goal is to make you taking pills for the rest of your life (permanent customer base).... You name it!!!
@Class is Fundamental A big fat elephant know as the neoliberals has fail America.
@@raymondjacinto4880 True,fact is they,the so called neoliberals are Not even True American Patriots,on quite the counterary!
@@pelaubenson1230 Yep! Kleptocrats.
@@raymondjacinto4880 pretty sure the old con, neocon is much better. ha.................................
If only America start allocating half of their defence budget on their citizens the country will be in a better place.
That'll definitely help those tents we are seeing, those guys living in them, the individual states and the country as a whole.
The elites certainly wouldn't allow it. Spending for the needy mean it's a dollar less for their pockets.
Then, how the hella the us of the a can conquer the world? ha....................
If they do so , their defence industry stock prices will fall ... so no chance
That's just wishful thinking, both Democrat n Republican parties know that the military industrial complex would not allow that to happen, both parties' self-interest politicians are not going to allow themselves to be out of job. No politician in America is going to be elected without money from the powerful lobbying groups; military industrial complex is one such powerful group.
"It's merely a conflict between Socialism & Barbarism."
If America's Oligarch class doesn't change it's "short term gains" philosophy, ditch it's greedy & selfish ways, soon....
The concept of America is Finished.
I've been saying this for years, but it's words from people like Micheal Hudson that validates my perspective.
Thanks for sharing your genius Micheal Hudson.
Thanks for this post.
The ruling elites won't change. Only the people can overthrow them as shown in history in different time and country. The problem is the people of the US is still too rich to rise up and overthrow their ruling elites. The poverty rate is rising but not anywhere near the breaking point. The US will fall and there will be revolution, but not in the near future.
The current mode of the globalization started with the political decision of the United States to stimulate the economic development of Japan so that it become a counterbalance to the Soviet Union and China in the East. As a result, the custom taxes were removed in the United States on the import of several industrial products from Japan notably textiles and consumer electronics. The results were impressive. Japan did propel in its economic development, with the standard of living significantly being improved. Simultaneously, cheap, diligent and industrious Japanese labour ensured, in the labour intensive industries, the very low production costs which benefited the US consumers. Most importantly, the corporations involved enjoyed huge profits .
When the salaries in Japan increased, the profits from the labour intensive industries declined. To maintain the profit or the corporations and the flow of cheap import of consumer goods to US, the new pattern of globalization was extended to so called five Asian tigers. The taxes on their export were decreased or removed. As in case of Japan, many industries including garment, textile and consumer electronics moved to those countries. Again, with the rise of labour cost in Asian Tigers, this process was repeated with the inclusion of some other countries, particularly, ASEAN economies and then China and India.
Everybody seemed to be happy. The new trend of globalization was eventually legalized in WTO agreements. But there were many seemingly unexpected side effects. Although, many developing economies, mentioned above, and even some developed countries like Germany have benefited from the globalization many other nations and their people have not been so fortunate. For instance, Arab countries, which are not oil producers, were not able to successfully compete in the new open economic environment. Their agriculture has been also damaged by the opening to the highly subsidized agricultural import from developed countries. Resulting deteriorating living conditions was the most important cause of the Arab spring . Similar results of the globalization are evident in many countries in Africa and the Latin America. This trigged many military conflicts in and the waves of immigrants from Africa , the Middle East and Latin America to developed countries both in Europe and America
The global elite which has gained tremendously from the globalization is not worry of the plight of developing countries and their people. The immigration is even beneficial to the corporation as it allows to suppress the labour cost in the developed countries. But there have been others unexpected results. Most importantly, with many industries being moved from developed to developing countries, it appears impossible to maintain the level of life the people enjoyed in the second half of the last century in developed countries. Everywhere, the real incomes are going down , people have to pay more and more for the medical care and the education. The discontent is growing all over the wold resulting in backlash against the current economic system.
It may be useful to recall that the initial wealth accumulation in the developed world started with the colonization and slavery. Then, it was discovered, that it was much more profitable to import cheap natural resources from developing countries, make value addition through manufacturing and then export back the product at very high price. So called the ceases of prices brought to the developed world even more wealth than the inhuman colonialism. As wealth was created within the countries, it was sheared between the elite and people. This ensured social and economic stability.
As many wealth producing industries move from developed countries, there was a hope that the service and financial sectors became the back bone of their economies. However, the current development seems to support the view that the financial and service sectors only create wealth when they are the integral part of the real economy while the financial manipulations and speculations only increase the number of billionaires and the shear of the financial sector in GDP. The fiat currency capital has appeared to not sufficiently trickle down to the real economy to support sustainable development. Neither it has trickled down to the ordinary people with the wealth gap growing all over the wold.
With the shortage of the wealth generated nationally it has been compensated by increasing debt. To stimulate the national economy , maintain the standard of living and purchasing power of the population and produce the public goods the governments at all levels and as well as the people have to use more and more borrowing. In some smaller cases, the some national or local debt problems seems possible to be resolved through austerity but there is no much understanding what to do when much bigger countries, states or segments of population are involved. For instant, only US government has accumulated two trillion US$ and does not anything to resolve the problem.
There was also a hope that the wealth continued to go to the developed world attracted by the financial centers , tax havens or real estate opportunities. It works but money flow again appears to be insufficient to support the current standard of living and sustain the economic development. Moreover, it is not clear what would happen to this inflows in case of a serious crises.
A part of the elite continues to be fully satisfied with the current model of the globalization. This part represents the transnational financial and other global corporations addicted to the profit maximization at any cost. Their CEOs depend on the today's profit for their positions and benefits. Their shareholders are looking to maximize the profit now. These people are not capable to look into the future. The other part of the elite, mostly family owned , is worried of the deteriorating social and economic conditions and the rise of the alternative political forces, both right and left. Most frustrating to the elite is the fact that one of the major results of the globalization has been tremendous shift of the real wealth producing manufacturing industries to China.and the rise in political, economic and ideological strength of the communist China
Consequently, the later part of the elite, wants to change the current globalization model and return the wealth producing manufacturing machine back from China and other developing economies. They already have great election successes in US and UK under slogans “America first” and “ UK first”. They also like to review the current economic agreements including those under WTO which so greatly benefited China. These above election victories and the followed actions met with strong resistance from the other part of the elite addicted to the short term profit. This represents a great split of the elite which makes the whole current capitalist economic system weaker.
Most likely, it is now impossible to contain China economically even with igniting a trade war as it is already equally strong and in little more than fifteen years China would be two times economically stronger than US. Unfortunately, there might be a desire of the most extreme part of the elite to contain China military. China is now much weaker military then US not speaking of NATO plus Japan. However, China has nuclear deterrence which makes any military conflict absolutely dangerous. Furthermore, Russian military power is still formidable and its position will be crucial in any military confrontation. Combined military power of China and Russia puts them at least on equal foot with US and its potential allies.
After the end of the Cold War and the disintegration of the Soviet Union the West discarded Russia as a political or military power and consider it as a devoted Western puppet. It totally ignored the political and economic interests of Russia and actively promoted Russophobia in the former Soviet Republics and beyond. Actually, the Russian establishment which transferred to the West at list one trillion US$ would have been happy to become a part of the global elite. Majority of Russian oligarch moved to the West and even changed their citizenships. However, they all were treated as second class people and were threatened with confiscation and even imprisonment. Not surprisingly, a part of the Russian establishment had become patriotic. When they decided to protect Russian interests the West tried to use its economic power to force it to comply with the West orders. Ironically, anti Russian position of the West including the NATO encirclement of the Russian borders and the economic and political sanctions and pressure had the effect quite opposite to the West expectations and pushed Russia closer to China in all areas. Ideologically, however, China and Russia are on the different sides , especially as Russian Establishment abandoned socialism. So, there are some voices in the West calling for the reload of Russia -West relation in a hope that Russia distances itself from China. However, because of the continuation of the chaotic and unfriendly policy towards Russian it will continue to move closer to China in the near future. It gives China sufficient time to overcame any attempts to its economic and especially military containment.
usa is already beyond saving. the thing is the idea was always bs. capitalism since 1789 was no favor to the workers. it all has to come down and be built over as socialism, but since people cannot see it, one serving of barbarism coming right up.
@@guennadifedorov2239
Where you found this explanation?
The best there is Prof Michael Hudson. A lesson for mankind.
The best explanation I have heard about the hegemony of the United States. Fantastic!
to be an american friend is lethal. it means you must sacrifice your country's future and well being to the interests of your owner.
To paraphrase Kissinger, the only thing worse than being America's enemy is being America's friend
Well said Sir.
look at the UK
I've heard Dr. Hudson speak many times on various programs, but I've never before heard him pull it all together (i.e. the U.S. vs China/Russia) the way he did here. I'm going to have to listen to this a few more times...
Professor Hudson. It is great to listen to and learn from you. Thank you for sharing your knowledge.
Excellent, A completely different perspective. Thank you the channel and the guest speak, Prof Michael Hudson.
Thanks for a very unique breakdown of what is happening on the Global scene.
Something that Media generally is absolutely clueless about !!
For my liking, Hudson is one of the very few with a perspective, education and experience worth listening to when it comes to economics.
I’m from the global south and its thanks to Michael Hudson that I understand what the hell is happening. Cannot thank u enough!🙏
Americans needs to listen n learn the truths...
Don't listen too much as you are being misled. You want to know what is happening? listen to world renown names like Peter Zeihan, George Friedman, The Hoover Institute. Peter Zeihan has gained a lot of traction lately as many of his forecast are coming true.
To sum it, USA is a drive through while China is a dine in establishment. Nutritional wise, dining is healthier than drive through anytime.
I love Michael Hudson so much
Always a pleasure to listen to Mr. Hudson's explanations.
I always said, FDR neutered Britain before helping out the Brits in WW2. The neutering of the British empire by the US wasn't enough, we also forced them on "technology transfer" for good measure. Why not have their tech too when we going to steal their empire from them. Yet the Brits, are still happy thumping their poodle tail when Uncle Sam walks into the room.
@@Hrrrrrr25847 You don't know?
The British did try after WW2 to plot an independent foreign policy course, but this all fell apart at Suez in 1956.
Britain and France, with a secret agreement with Israel to provide cover, tried to recapture by military force the Suez Canal, which had been nationalised by Egypt. Eisenhower forced a withdrawal while the invasion was underway, humiliating its allies.
After Suez all three - Britain, France and Israel, changed how they dealt with the USA. It was a major turning point in their histories. Britain decided on the poodle strategy, as you correctly observe - always be America's best and keenest ally. Britain also rapidly accelerated the dismantling of its colonial empire - which gave US interests full access to these territories.
the size of britain have no choice but to fall in line. if you look at history, most powerful and wealthy are always the biggest country in population. industrialization phucked up india and china, given peace time they will get to where they should, just a numbers game.
AMERICAN ARROGANCE IS SHAMELESS.
Criminals cannot be shamed
Hudson rules. A brilliant, vastly experienced economist who explains to us, the victims, the breadth, depth, scope, and motivations behind a suicidal and rapacious economic system. Nice to be acquainted with your executioner.
Putting this whole history together the way he did was a marvel to watch.
Thoroughly enjoyed it.
Thank you, Michael - you really are brilliant at helping me put the pieces together - unlike any other. Appreciate all your efforts !
Well said. Thank you, Sir
A profound, competent, knowledgeable, western intellect to comment on China is Cambridge Uni Prof. Martin Jacques who spent 8 years in China as adviser n consultant to China govt. on broad issues of geo- political, socio- economic n other issues of China n the world at large.
👏👏🏻👏🏼👏🏾👏🏽👏🏿
Well prepared lesson for all to learn from Prof Micheal Hudson
US has only less than 300 years of history whereas China has more than 3000 years. US politicians are shorted sighted, selfish and hypocritical whereas Chinese politicians are working for their people and harmonious. Hence while US’s economy is declining and defence budget is increasing, China’s economy is increasing and defence budgets stable. 路远知马力 is an old Chinese saying which simply means: in times of competition, we shall see who can last longer.
I also liked the Ben Norton - Michael Hudson interview that discussed inflation.
Brilliantly explained!
Great perspective. I have been listening to Professor Hudson’s lectures since the start of the pandemic.
US 300 year history. China 5000 year history
Great Michael Hudson, greetings from Brazil.🇧🇷🇧🇷🇧🇷🇧🇷
Damn this is eye opening! Thanks for sharing! This man put so many pieces of the puzzle together! Love to hear more!
Agreed. It took me over 1 decade to understand the puzzle. Read about Project New American Century.
Very instructive . Thank you.
One of the most beautiful minds I've ever had the pleasure to learn from. Thank you.
USA v China : Barbarism v Socialism 😅 😂
Michael never fails to deliver well sought after wisdom.
Quite illuminating perspective from Prof Hudson: US is trying to impose an iron curtain around China and Russia to prevent these two countries from integrating with East Asia and Europe, respectively. Previously, in Cold War 1.0, the iron and bamboo curtains were self-imposed. Now in Cold War 2.0, it is being imposed by USA. Thanks!
Michael Hudson is the Very Best God Bless you Michael
“The eye sees only what the mind is prepared to comprehend.” Robertson Davies Thank you Michael for the gift of sight.
Great futurists economists Honourable Michael Hudson and Radhika Desai. Great Team
How a great intellectual can say so much in a short time. Amazing. After listening to him for 15 minutes I have the impression that I have read a book!!
This perspective about two clashing systems of financial- what have you done for me lately- capitalism and Industrial long term development socialism will never be mentioned in our media.Our elites are hiding their collective heads in the sand in the hope that the club of socialism wont knock them in the head. Gramsci wrote about the interregnum, or time in between, where the old is still with us and the new hasn't yet come to pass , in these times, he said, monsters appear. hopefully we wont see the monster of fascism here as our capitalist system no longer is able to provide the goods. hopefully the US will go down gradually and embrace the change to a more rational economic system. . But i highly doubt it. I think they will fight to the bitter end and take a lot of people down with them.
I think it would have been best for Michael to give his presentation after the other 3 speakers. Love his statements that become more obvious as time elapsed. He knows history well and doesn’t need props and graphs to best communicate concepts and ideas to us.
Everything he says:: ✅✅✅✅ Astonishingly accurate than all “think tanks” combined
The first time I knew Professor Hudson was in the movie Under The Skin, one of my favorite.
Some years ago there was a documentary on BBC TV showing how the US undermined and took over the British Empire - Rubber plantation in East Asia owned by Dunlope pre ww2 became Firestone..... etc.
US should join the more advanced nations of the world and provide universal access to health care and education
Excellent analysis. Thank you.
4:25 Thanks Professor Hudson for your review of British products!
Michael Hudson is the MENTAT of geopolitics.
From Adam Smith's time, this relationship between capital and labor has been operating successfully for hundreds of years and has proven to be the strongest and most stable human relationship. To date, no second relationship has matched or challenged the stability of this relationship. Modern economics and political science are built on this relationship. The Sino-US relationship can roughly be rounded to the relationship between labor and capital.
China under the leadership of the Communist Party represents the working people, ie., the labor force. It's just that these are not ordinary working people; they are organized working people with a historical mission to accomplish.
China recognizes that the world is still dominated by the bourgeois ideology (rule of law) that began with the bourgeois revolution hundreds of years ago. The plan is to raise and feed these rentiers/parasites first, then slowly make them Irrelevant in the world's supply chain, and gradually remove them from the decision-making circle.
China believes it is totally irresponsible to entrust the future of humanity and our planet to a reckless and irresponsible entity like the United States and a few controlling capitalists. That is the real reason that China decided to join the competition for supremacy.
Are Japan and Germany led by the Communist Party? Is the ruling party a bourgeois party or a working-class party? Which class does the UK, Australian Labour Party belong to? Who sets most of the rules in our world today? Without class awareness, one may get lost. The whole world appears to be a superficial competition for military might and hegemony.
In fact, the whole world has been developing according to the script written nearly 200 years ago. The playwright's surname is Marx.
Today's development of productive forces and scientific and technological progress has put forward a greater and higher demand for new production relations and large-scale social production, one that is no longer met by the old and obsolete bourgeois.
After four or five hundred years of development, the labor-capital relations created by the bourgeois revolution have shown signs of fatigue and incompatibility, and have begun to limit the further development of productive forces.
And that's where the socialist market economy of China comes to the fore.
The CCP is betting on two things: 1. Marx’s prediction nearly 200 years ago was right. The hands of laborers create the world, and they will also create a new future. They are the gravediggers of the bourgeoisie. 2. Although the Chinese nation with a farming tradition is not explosive enough and was once overtaken by the marine civilization of the West, once it finds its own rhythm, it will use sustainable development to eventually replace the unsustainable Western pirate tradition of a marine civilization, even if it means that our less-than 20% of humanity have to feed the rest of the world.
Thank you, Johnathan Sanders.
In cometary below video presentation of profesor Hudson I can find somuch truth hidden in mass media and also in school system, so I enjoy read commentary like yours, tanks
Let's face it: GAME OVER, USA! 🤣😅😂🤣😅😂
The choice is between socialism and barbarism.
Profesor Michael Hudson tank you for your knowledge and real truth about economic system and geopolitics, after watching some of yours video reality about us have much more sense, because peopeole can watch only lies from mainstream media and wonder whay they world and stardard of living disappearing
Michael said a mouthful there. Wow.
15 minutes you'll learn more than 15 books.
Thanks madam
How they figured they could outsource manufacturing and continue to thrive is beyond me 🤔. 😶
They thought they could corrupt their way into buying up all of China's essential assets: utilities, heavy industries, banks and take over the country. That's when the Xi jin ping clan came in and restored order and why Xi is now public enemy no1.
thank you radhika.
michael hudson has an excecllent marxist knowledge base. i luve his explanations for the debt of asyria and egypt where debt was regularly canceled as oposed to rome where debt was used to rule with slaves, so there were debt riots and debt mass movements. michael also spoke of the utilisation of world bank in the 50s/60s/70s to indebt africa and latin america to produce plantations based cheap foods for export in the us as industrial goods where as the conutries will destroy the local production of food and therefore make these countries in huge dollar debt. banana plantations, cocoa plantations and so on. world bank is a terror imperial toll of the colonial bastards.
regards from macedonia
kiril minanov
Short sweet, clear as day. Now what are we going to do next?
Hi All, Thanks so much for this discussion. Been teaching this stuff well over 20 looooooooooooooong years, and have come the informed conclusion that simply put: we're in 'historic evolutionary times' or as the Chinese rightly say: 'interesting times......'
We're in the epoch of the ending of US Empire and like all past empires... metaphorically, like a blackhole will attempt suck into its black, dark, core abyss everything else...
I don't think that will happen: It's simple, we live on and share a very lonely planet with a BIG EGO... and mutual cooperation and trust are forcing into the background the petty 'tit-4-tat' political issues and our shared environmental and global economic crises are arising faster than conventional politics and economic thinking can comprehend.... It is now time to take a very deep breath and seek COOPERATION: Russia + China + US + and the Global South together: we can move forward together.... the alternatives are dark if we fail to unite on a common global goal... the question remains: Can US and western leadership have the political will...?
Indeed well analyzed, totally agree
The answer is no for one simple reason: the West has no leadership. We have puppets working for oligarchs. None of these clowns feels responsible for anything beyond making a personal fortune.
The whole talk was about America Dominance and Hegemony ... this is in contrast with Human Co-Existence (that Earth was once a piece of Land which Hudson also mentioned). If only the World is at Peace, regardless of which Countries or Economic System each country adopt ... Why talk about War? Why 800 Military bases around the World ...etc. Alan Freeman mentioned the reason for America Decline is the lack of Growth, Infrastructure not because other Countries - One cannot blame, ones own Performance for other Country's Growth and Meritocracy. Globalization was started by Western world, so is Capitalism - The movement of Companies away to other Countries due to cost of Labor is the start of Decline.
Leaders always want to make it us vs them 😩
It's about US vs world and not China and Russia. The rest is US dog's 🤣🤣
Japan has memories of once being in charge of China and once had a marshal relationship as a controller from the help of the British and Americans but has never seen that the Americans have always seen them as one and the same people including all Asian looking peoples.
Loved the idea of Gwandanaland used by the US to justify its sphere's of influence
1:21 💪💪💪💪 Divide et impera ... won't work anymore ...
Can anyone deny that China has followed the tactics of Japan, South Korea and Asian tigers for its economic growth ?
What role Australia is playing?
The role of being american lapdog, that is.
as always thank you Michael Hudson for the IQ boost
Do share this video. I have. 💡
Just fix your house first b4 worrying about others backside ,
Funny how this video detailing the ways that the US and western systems cannot prevail does not list the number of likes. Do you think that is an accident?
0:44 Lovely intro!
Very insightful, he has given me a completely new perspective. It not looking very promising for the west.
Michael Hudson precisa ser mais conhecido pelo público brasileiro. O Brasil tem através de sucessivos governos, substituido os seus interesses pelos dos Estados Unidos. O Brasil está condenado a ficar estagnado. Para todo o sempre.
Sounded like Raider of the Lost Ark. How the German were employing archeologists to look for weapons of supernatural. In American’s case, looked for an idea to support their hegemony., the ultimate superpower. The problems are Greed and hungers for powers and wealth, are both ignorances. One can never had enough, never satisfied.
I just so dearly hope everyday that our politicians in India would take active steps and reconsider a lot that is happening globally to drive India closer to China. A big no to US. Simple. Americans- Yes, American Govt- A BIG NO. I hope it happens soon.
Where did they find the map ? The few hundred million year ago map! Gee the Americans are pretty lucky to find such an ancient map. It must be worth trillions….at least 32 !!!😂
JANUARY 6TH USA IS REAL AMERICANS DEMOCRACY???????????????????????????
Capitalism losing to Socialism = USA needs to bring "Democracy" to that country. xD
russia becomes capitalist and the workers find out that Stalin wasn't bad at all.
A los imperios no los tumba nadie, ellos se estrellan contra su arrogancia. El que mucho abarca poco aprieta.
GM CEO Charlie Wilson's Continuous War Economy never did work.
this guy is way above my head....i grasp certain things...but he is throwing around so many links dependencies history and relationships that i always get totally confused.
❤❤
10/10
Ha, ha..."Gondwanaland". Well at that time dinosaurs, or their earlier creature cousins ruled the Earth, so I would say the analogy breaks down. Cute.
............prepare!!.............we're headed towards an DEPRESSION!!
🙏💕.....
Days before my father died in 2005,
a man who had fought in the Korean War and then went on to be a civil engineer on the Milwaukee Road and worked hard to build for the future only to become disgusted by the abandonment of our great industries, said to me:
" I fear that my grandchildren's children will see Chinese patrol boats sailing the Mississippi to protect Chinese interests."
Sometimes I wonder about that.
A far cry from the photo my grandmother took from the California coastline in 1946 of the Pacific Fleet of the US Navy as far as the eye could see, home from the war. A photo stolen so many years ago.
sailing the Mississippi with patrol boats?
you'll never understand China if you keep using western lenses.
thats exactly why all western prediction about China is incorrect.
China doesn't do imperialism. Did you know that US patrol boats sailed the Yangtze to protect US interests for almost 100 years?
and you carry that same thinking as your old dad is the reason this country is going down. do you want to wake up to a new century or do you want to listen to the fear mongers of Trump or whoever is in power,
@@choikluHmm. The point is being missed. China endured two hundred years of humiliation, falling from the world's largest economy to poverty with constant internal interference by foreigners and occupation by foreign militaries.
Now the United States of America is in decline, our standard of living rapidly declining.
Will America have the internal capacity to protect Chinese investments within America?
Or will China have to send assistance to aid in maintaining the security of China's investments?
@@lynnwood7205 at most Chinese companies will hire Americans to protect their investment in the US if it comes to that.
I dont think they will call in the chinese army to protect those investments. Their investment in Africa, Pakistan, Myanmar is solid proof of that
So Aston Martin, Rolls Royce, jaguar, Bentley where terrible British car manufacturers that made terrible cars which broke down all the time. Ummm! Well thats not true.
Doubt we own any of those brands now
Yes, they actually did break down a lot before modernizing mostly under foreign ownerships.
Are you just naming the worst car brands?
In order to understand the man's theory must examine the motive and who pays him for that.
That’s anti-intellectual non-sense.
Oh shit.. America is in it for the lose.
Bingo
Well. The US can always sell T-shirts 😏.
👍👌👏👏👏👏👏👏👏✌🏻
I really hope he is wrong about the future demise of my beloved Dollars.
I listen to Professor Hudson over and over again, which ends up being worth it because of his perspective. However, it can be painful because his talks are wildly disjointed and confusing. I have now listened to this talk several times, and I think I get it - maybe.
crank 🤣
The hud, can you scud him?
.
.
.
.
.
.
NO
Your network is not good.showing your video voice not good