RADHIKA DESAI: Hello and welcome to the 17th Geopolitical Economy Hour, the show that examines the fast-changing political and geopolitical economy of our times. I’m Radhika Desai. MICHAEL HUDSON: And I’m Michael Hudson. RADHIKA DESAI: And today we are joined once again by the incomparable Pepe Escobar. Welcome back, Pepe. PEPE ESCOBAR: Hi, everybody. Great... Read More

Donald Trump’s legal troubles, the possibility that Joe Biden will face an impeachment inquiry, and other stories related to the upcoming presidential election, caused the American media to miss a story of potentially greater significance. This was the decision of the BRICS (Brazil, Russia, India, China, and South Africa), who formed their alliance to challenge... Read More

The new era opened with the strategic tour de force inbuilt in the creation of BRICS 11 involves the make-or-break issue of setting up a new international economic/financial strategy. Right at the heart of fervent discussions are the merits of designing a new BRICS currency. Brazilian economist Paulo Nogueira Batista Jr., a former IMF director... Read More

America’s weakness is overlooked by investment analysts. Having offshored manufacturing, the US is import-dependent, and having weaponized the dollar Washington is causing foreign central banks to stop holding dollars as reserves. The consequence is that the US has a rising issuance of debt to finance trade and budget deficits, but a declining supply of customers... Read More

The Ukrainian crisis has resulted in tectonic shifts in the global economic order in ways unseen since the end of the Cold War. Renowned economist Dr. Paul Craig Roberts sat down with Sputnik to discuss the post-dollar world, how it will affect ordinary Americans, and what, if anything, might emerge in the greenback’s place. https://sputnikglobe.com/20230818/paul-craig-roberts-the-end-of-us-dollar-hegemony-1112683970.html

For the longest time, Bureau of Economic Analysis jobs reports show that industrial and manufacturing jobs–jobs that have high value added and produce good incomes–are declining in the United States. For some time US corporate profits have been based on sending Americans’ jobs to Asia where labor costs are lower. The stock market boom was... Read More

The Global Majority is free to choose two different paths to counteract the rabid, cognitive dissonant Straussian neocon psychos in charge of imperial foreign policy; to relentlessly ridicule them, or to work hard on the long and winding road leading to a new multipolar reality. Reality struck deep at the Russia-Africa summit in St. Petersburg,... Read More

Deficit spending is when government overspends its revenues and issues Treasury bills/bonds to borrow the money to fill the gap. If the debt instruments cannot be sold at the interest rate the Fed is maintaining, the Fed buys the bonds. The US dollar being world currency means that foreign central banks are content to hold... Read More

Haha. RT: Hahahahahahaha. Asked by Congressman Vicente Gonzalez whether the US should lower the use of sanctions in its foreign policy given that even traditionally allied countries, such as France, have been making non-dollar transactions, Yellen stated that for most countries she sees “no meaningful workaround� to using the dollar. She acknowledged that there is... Read More

Against the backdrop of the United States’ recognition of the investigation against Donald Trump as politically motivated, structural and ideological controversies, and concerns that the American economy will enter a recession, the GEOFOR editorial board asked Paul Craig Roberts, Chairman of the Institute for Political Economy (USA), a PhD in Economics and US Undersecretary of... Read More

This is the problem. I keep saying it’s the problem. These countries are now starting to trade in non-dollar currencies, after the US was universally determined – by 85% of the world’s population, by the way – to be a mad dog that can no longer be expected to uphold the global financial system. However,... Read More

US power since World War II has been based on its financial dominance stemming from the dollar being the reserve currency held by central banks in place of gold. As the dollar was the currency used to settle international trade accounts, every country needed dollars. That ensured a large demand for dollars to absorb the... Read More

Guest: MICHAEL HUDSON Professor of Economics, University of Missouri - Kansas City Proposed questions: There are many perspectives on what are the most serious problems facing China and the rest of the world today. Even if you don’t agree on the diagnosis of some people, you at least need to know how they think. That... Read More