Michael Hudson: US imperialism, Krugman, de-dollarization, socialism, Palestine, China.

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In this video, we ask Prof. Hudson to explain why he claims that the World Bank is an arm of the US military. We asked him why he disagrees with Paul Krugman's claim that de-dollarisation is not in sight. Prof. Hudson also explains why capital markets are important to understand capitalism of the 21st century. We ask him what is missing from the Left, and what can enable a greater understanding of the economy. Finally, we end with his thoughts about US complicity in the current destruction in Gaza.


Our other video with Hudson:    • Michael Hudson: Why the US has a uniq...  

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#palestine #china #usforeignpolicy #uschina #europe #EU #NATO #dedollarization


00:00 Highlight & Introduction
00:57 The World Bank has always been an arm of US Military: A response
05:35 Impact of US agricultural policies on global markets and developing countries.
12:48Misunderstanding of money and balance of payments by Paul Krugman leads to flawed economic theories and discussions on de-dollarization.
18:09 US imperialism drives de-dollarization by imposing economic austerity on global countries through international monetary policies.
24:27 Impact of abandoning the gold standard on US military spending and global economy.
30:34 Neoliberalism profits from financializing assets, not producing goods/services, by privatizing infrastructure funded by loans.
37:22 Land rent and banking privileges in European economy explained by Marx in 19th century.
43:51 Impact of financial management on workers' wages and employment.
49:30 Federal Reserve increased interest rates to lower wages and unemployment, impacting banks and assets.
55:12 Challenges in modern industrialization and workforce training in a postindustrial economy.
1:00:43 China embraced Friedman's economic ideas to promote wealth creation and innovation, guiding beneficial enrichment.
1:06:43 Analysis of economic interests of left and right in imperialism, focusing on financial gain over social issues.
1:12:09 US manipulation in the Middle East through propaganda and military actions, controlling the region by supporting Israel.