The United States sanctioned Europe, not Russia: A Conversation with Michael Hudson & Radhika Desai
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- Опубліковано 19 вер 2024
- On September 9, 2024, the European Commission issued a report on Europe's increasingly dire economy. The author of the report, which is titled "The Future of European Competitiveness", is Mario Draghi, the former President of the European Central Bank.
Draghi's report acknowledges that Europe's loss of access to Russian pipeline gas has resulted in "huge cost to Europe". Yet Draghi does not argue for the restoration of Europe's access to Russian gas. Rather, he recommends that Europe make massive and "unprecedented" investments in defence spending, decarbonization and the digitalization of Europe's economy.
On September 13, Dimitri Lascaris discussed the Draghi report with geopolitical economists Radhika Desai and Michael Hudson. They contend that the true victim of Western sanctions on Russia is not Russia itself, but Europe.
The Draghi report can be found here: commission.eur...
Thank you Dimitri, Radhika, Michael for such a very edifying discussion.
Radhika and Michael are ALWAYS superb.
Exactly as Michael said, Europe is done finished in reality. That's forever not temporarily.
Forever is a long time, but 500 years is plausible.
Don't understand your bleakness. It has no basis in historical reality. Europe has been in so many dire situations like the medieval plagues that by some estimates took out 20-60% of Europeans and we pulled out even better. The plagues weekend the feudal power. The situation we are now facing is similar but not the same to that of 14th and 15th centuries where Muslim control of trade routes forced Europeans to explore and innovate. It's a question how long will it take but in my opinion it will be benificial because it will strengthen those social and political forces that seek other paths.
@@gideonros2705 you obviously haven't been following independent media to understand what's going on with the US dollar and swift which will be replaced in the global majority of BRICS+ countries, nothing to do with bleakness only fact and unless Europe totally transforms from neoliberalism and US puppets it will financially collapse and have zero industry because you need energy for that and Nordstream doesn't exist anymore because of its destruction.
@@gideonros2705 While China is still banking on exploiting and polluting our planet EU has already started working to develop renewable industries and energy years ago.
Lets hope we can free our civilization from these fossil oil dependances soon.
World's most Brilliant and Honest economists Dr. Michael Hudson, Dr. Radhika Desai, Dr. Richard Wolff 👏 👏 👏
smart and intelligent people
Dimitri, did you just sneak us in a Geopolitical Economy Hour on the off week? Bravo!
Big smile and a huff of appreciation when I saw we were getting both of them for an hour lol.
Dimitri is quickly becoming my MUST WATCH!!!!
She's awesome!!!
Great guests and subject matter..Kudos to dmitry for playing the role and asking the questions as a layman instead of pretending to understand all the hyper complicated nuances that made for some great questions for two of the most qualified on earth imo to answer those?'s.
Excellent interviews
Excellent conversation Dimitri
Putin is really clever and smart. He doesn't play poker like the USA, he plays chess
exactly
To me it increasingly looks like the US is playing mad men.
how did we put those bozos in Washington, and how do we get rid of them? We need a meritorious system, not a deep state.
I think you heavily underestimate the skill, strategy and character that goes into playing poker.
The analogy should be, “Putin is playing poker while Biden is playing Go Fish”
@@barnabusdoyle4930 LOL
GREAT WORK DIMITRI!💥💪
SHINE BRIGHT!!💥💯🙌
AUSTRALIA!!🤍💙❤️👊
❤ Dimitri: Interviews Wonderful Intelligent Couple! 😇
I'm so glad to have discovered your channel Dimitri, things are starting to make sense in my mind now.
Today also great guests!
Excellent conversation
Excellent, high caliber people such as Michael and Radika needs a high caliber host and moderator to "squeeze" the most out of them, ...I recommend adding Radika and Michael's name into the video title, so that people can find this video thru youtube search engine
love michael, he is the best!!!
One of the better channels online, i wish the News was as good and interesting….
If the news was like this, the masses of people would know WHO was to blame.
Some of my favorite people all in the same place.
Brilliant and important discussion, with enough humor and humility to make a Saturday laundry night positively edifying! I am sorry that Germany made bad choices. Would Sahra Wagenknecht rejoin the Russian gas pipeline? Will that take another 30 years? Britain made its own porridge, and will have to eat it. The British people deserved better. Our small midwestern town will have two new German companies, Bosch and Keurig. It appears you are right about the move to our shores. Thanks again!
Excellent guests. Thank you Dimitri.
It’s great to hear such sense!
Very brilliant discussion after a while. Both are gem in their field. Thank you Dimitri.
Merci pour cette émission et ses analyses pertinentes
Draghi : Europe will have to digitize and decarbonize... Well, there your are, that's nonsense! If you digitize, that means you'll need more electricity, which means more energy and higher carbon(dioxide) output. Just goes to show, being a banker, doesn't mean you know anything.
Exactly. Stealing doesn't equip you with any kind of knowledge or expertise.
@@gideonros2705He proposes to steal Russian gas instead of paying for it. That is the reason they ganged against Russia.
❤ from occupied usa. Thank you for a great show and wonderful guests. When if ever will we freed from the grip of the "money changers" ?
Excellent discussion thanks Dimitri for getting Michael and Radhika on to share their wisdom.
This was a useful converasation with contrarian economics views on why nation-states in Europe continue to decline. Thank you to Dimitri, Michael and Radhika. My partial topic summary is below.
1. GDP vs PPP (Purchasing Power Parity) and why both are misleading measures; by using GDP as the measure the US benefits, that measure is used to prop up US voting and veto powers in international institutions
2. How including in GDP figures interest paid on debt and other finance costs, and production for the military, in both cases does not measure production of products capacity, which is what GDP used try to measure. How the UK and the US, as lead highly financialised economies, have a distorted or inflated perception of the value of their economies.
3. As Russia is aligning its economy with China expect the continuing return of central planning in Russia. (Note, the global south is watching.)
4. Since 2014 US sanctions have been on Europe as much as they have been on Russia. Europe is screwed buying energy from the US and not Russia.
5. Energy supply and pricing remain foundational for economic development.
6. Financialisation and deindustrialisation are fruits of neoliberalism.
7. Large corporations are the shapers and beneficiaries of government policies in the west.
At 14 min and on..Radhika and Michael have helped me understand a lot... financialization means deindustrialization.. great, great interview. Thanks, Dimitri.
Radhika and Michael are awesome! I can’t speak highly enough of their contributions.
Thank you, Dimitri. I love all your guests on your show and your reporting.
I also ha e read some of Professor Michael Hudson's books, Professor Richard Wolff included, Yanis Varoufakis, for years. Ed Norten, with his excellent show along with Radhika Desai. All experts in their fields of economics.
This was another excellent interview.
Great channel with two of my favourite economists. Subbed!
Excellent, professor Hudson and Professor Desai are geniuses, both wonderful people!
I read all their books. Would love to one day be able to contact the distinguished professors and have their books translated in other languages, such as Romanian. And be able to gave the funds to pay the professors for their work, one day, I dream about that day, it would help millions of good people people to have access to the wisdom and work of Professors Hudson and Desai. . Thank you for the discussion.
This is the kind of discussion we should expect of public televisions. If they can't produce such talks themselves, they could syndicate Dimitri to do it for them as he is doing it anyway in lieu of coma-like TV predictable type of analysis. Thank you to the three of you to take the time and expertise beyond the usual and boring stuff I don't listen to anyway :)
Super interesting conversation! Thanks to all! From Britsh Columbia
Thank you for sharing 🙏
I follow both geopolitical economy report and Dimitri Laskari. I am so glad to see you all together discussing. Thank you so much for all that you have taught me. Please meet again soon. Maybe next time bring Ben Norton as well !!
Wow! Those are fantastic guests Dimitri! Thank you so much to all of you for sharing this knowledge!
Thank you excellent discussion. Good Day. 🇦🇺
Thank you Dimitri for this fascinating conversation with these two stellar guests. I also learned that Radika had been coordinating your platform when you ran for the Canadian Green Pary Leadership. What a great choice!
Michael and Radika are definitely prime analysts when it comes to understand the current phase and course of US militaro-financial imperialism.
The questions you asked also helped to get a lot of interesting perspectives from both Michael and Radika.
Long time fan of Radika and Michael. Colossal minds! Profound learning experience. Thank you. A privilege. Professor Warwick Powell would be a superb guest. Best wishes.
Excellent discussion, thank you all.
Well stated. Europe pays the price and Russia sidesteps the effects
Europe can't reindustrialize without either Russia or China, best case scenario is having both.
so draghi is saying europe we are screww and need to accept this and brussells need more power befcause the people are going to be mad and we need more money to spend in police no keep th population in ckeck due to more disidence on the streets when they realize we are slaves to usa and dont want to trade with russia and be competitive
Excellent material!!
I think there's a problem with Michael's analysis, however. For years, he has poo-pooed the idea that classical Marxism is the answer, instead arguing for a mixed economic approach that simply trims away financialization, leaving a nice social democratic core that includes a healthy dose of capitalism. However, what he has missed is the fact that these are not economic configurations, but political ones. Scandanavian social democracy, for instance, is going the way of every other erstwhile mixed economy in Europe, buried under wave after wave of neocolonial assault from the US. So, as much as it might seem promising to take out a scapel and trim away financialization, in politics it just doesn't work that way. Nothing less than a full-on revolutionary stance against the core processes of capitalism, as happened in China, North Korea, Cuba and Venezuela, holds any chance of defeating the political power of capital.
If Europe think’s that after the war they can kiss and make up and be re supplied with cheap Russian energy, best not to hold their breath while waiting
Actually (and to me amazingly), President Putin just reiterated Russian willingness to sell gas to Europe via the remaining pipelines a few days ago. But Russia really doesn't need Europe's business, it seems they have almost instantly found other takers to fill that gap..
Ukraine already said will end transit contract of Russian gas via Druizba pipeline on Dec31.
Fun times coming to EU..!
Thanks great show!
outstanding. thank you!
Thank you Dimitri, great discussion with Radhika and Michael.
Right on Dimitri. Great conversation. I learned a lot.
Briliant explanation of what has happened to European, and most other countries, under the US influence during past 40 years.
Well done Dimitri, one can tell of the quality of a channel not only by its content and guests - but also by the thoughtful comments section.
Εξαιρετική εκπομπή , χίλια μπράβο για την δουλειά που κάνετε !
Very enlightening, cut through the fog of western economic propaganda.
Brilliant, the two analyst. 👏🏼
Thank you for this rich analysis away from the MSM regurgitation of Empire Memos
Dimitri, this was a great discussion. Thanks a lot.
Informative and clarifying!
Great work
Brilliant analysis, thank you
Thx Dimitri
Thanks!
Very good!
Accidentally stumbled on this channel. Profound thoughts by the panel.
Really answered a lot questions for which i never had an answer
One thing is sure.
In the popular 'save democracy' rhetoric, the neo liberals and neo cons are not ashamed to stifle free speech and intervene in other systems of governance.
All they want is market access. They achieve this by their financial clout, engineered regime change and keeping conflicts festering.
Thanks a ton for the insights
YET Another great journalistic achievement Dimitri. Cant edify you enough as highest integrity and great human spirit. As Aristottle points out Teleos (Ultimate good).
Fantastic content 👏❤🎉thank you 🙏
great discussion!
Thank you dimitri
Amazing interview! Amazing guests! Thank you!
Wow, excellent discussion.
Journalism. Actually. How refreshing. Thank you all.
The apparent British strategy for NATO was to keep the Americans in, the Russians out and the Germans down. While punching ourselves in the face while wearing an American glove
I just returned from Russia back to the uk. Russia is another word. Its thriving. Its modern. Its digitalised enormously. People are happy and friendly. There is a spirit of progress and innovation. And i am not talking only in Moscow. I went to a small town on Volga river near Saratov and it has the same dynamics. The western Europe is a total opposite. Grimm prospect, deteriorating roads and infrastructure, high cost of living, and governments that consist of self delusional morons. There we have it.
Really great programme. Learnt a lot. America destroys it's Allies as well as trying to do so to it's enemies! Japan is also in a terrible self destructive position under American influence.
Thank you very much.
"You don't solve a problem with the same thinking that created it." Albert Einstein.
Just subscribed ! Great channel
Hudson's appearance on Through The Eyes Of channel is remarkable.
GREAT GUESTS (following both for years)!🙏💯❤️👏👍👌🤟 SUBSCRIBED
im going to watch this a few times. so much great info.
I think that every time I listen to Prof Hudson! All were excellent
Dmitri, this was a brilliant discussion. Sure, most of us who have followed events from this side of "the fence" were aware of most of this, but having everything crystallized & tied together like this was DEEPLY ILLUMINATING. Kudos 🇵🇸
✊🔻🕊️🇵🇸
Thanks!
I was an elected representative in the UK and saw the complete take over by special interest people whe were not aligned with the party values.
Studying political economy at universities in ex Yugoslavia we learned all your lessons guys. It is excellent discussion renewal of political economy subjects and discussion that only agriculture, mining, energy extracting and industry produce added value. Land lords, bankers and insurers do not make any value they just handle paper money. Their participation into BDP is 0.
I remember somebody saying with the explosion of the pipeline that europe was actually the US enemy not russia. The EU was gaining power and threatening it on all fronts, most specifically with its social safety nets.
This is eye opening
I cannot believe the level of betrayal happening in European countries, zero consideration for the people.
It’s like when Africa gets that one leader that’s willing to do better for his country but then runs into this same wall except in this case European leadership is participating in this disastrous policies.
And, what will all THIS WAR DO TO CLIMATE CHANGE?
M.H. "If we had some ham, we could have some ham and eggs, if we had some eggs". Classic :)
Desai is the only co guest worthy of Michael Hudson.
And vice versa
I like the shows he does with Richard wolff too
Georgia didn't ban ngos, the law is simply insists on a mandatory disclosure of sources of funding.
Two happenings marked the begging of the change of the world order in the modern history.
The first one is the assassination of Ferdinand by Gavrilo Princip in 1914 in Sarajevo.
And as the historic dust is settled about that happening, and everybody acknowledges the significance of that marked beginning of the change in the world, for the second most important event that will change the world the dust is still in the air. And not many people grasp the significance of that happening.
And that second happening was the Maidan coup in 2014, exactly 100 years after Sarajevo assassination.
But in my mind, there is no doubt , that Maidan event was begging of the change of the world order.
From that point the world definitely started new era.
And, I don't have any doubt that when the dust settles the historians will mark that happening in Kiev as world change event.
It will change the world politics, the world economy too.
It doesn't mean war will prevail like after 1914, but it is not excluded. About that, I am not sure. I don't get any instinct that points to me if there will be global war, or not.
But, it is possible.
Very odd having Michael Hudson but great choice ❤️👍
love michael, such a smart man.
A real debate about the critical role the heap energy has on Economic Recovery for BE, Europe and the world. Speakers including Dimitri Lascaris bring clear thoughts about economy.
Dimitri
Make contact with your Greek Brothers
Alexander mercouris and
Alex Christofori
From The Duran
Same level men.
Greatings from Amsterdam
Daan Ekkel
Great conversation and insight, but fuck me dead, the amount of ads in this video, its worse than TV. Can we keep the ads down to once every 15 minutes, instead of every 7.5 minutes?
Terrifying human cost.
The indians of America remind us we can't EAT MONEY.
Excelling point by Prof Hudson. How can HDP of Germany not go negative if its production sectors that depend on energy such as chemicals and autos went negative?