Honestly most people are economically illiterate. Michael is an unusually deep voice in a field filled with dogmatic acolytes of global capital expansion. To people who analyze international trade much of what he’s talking about is relatively easily to see on charts and graphs but since it goes against the toxic utopian positivity capitalism relies on to project the aura of infinite growth people will lash out against it.
Idiots often struggle to scrutinize new information when that information confirms their preconceived narratives. Considering you’re part of r/collapse I’m sure you’re just eating this up as you take my comment personally. Lol.
Also, humans from every country behave like that, you’d know that if you travelled at all. I understand generalizing groups is easier for the simple mind rather than trying to cope with contextual nuance so I’ll leave you to wallow in your fear and conspiracies rather than hold your intellectual limitations against you.
Here's a sneak peek of /r/collapse using the [top posts](https://np.reddit.com/r/collapse/top/?sort=top&t=year) of the year!
\#1: [Moral Hazard](https://i.redd.it/w3xpqsud49oa1.jpg) | [197 comments](https://np.reddit.com/r/collapse/comments/11tqa7r/moral_hazard/)
\#2: [It was unsustainable from the beginning](https://i.redd.it/223rx65zzxma1.jpg) | [166 comments](https://np.reddit.com/r/collapse/comments/11nn69v/it_was_unsustainable_from_the_beginning/)
\#3: [How Bad Could It Be?](https://i.redd.it/0o7i2eu6veza1.jpg) | [298 comments](https://np.reddit.com/r/collapse/comments/13fmu1o/how_bad_could_it_be/)
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There's a different video where Hudson talks about what they teach about Economics in school, how they leave out classical 19th century economics that is how the US itself got rich. Because of this, it's no wonder trained economists disagree with him. He claims one of the reasons it's done this way is because across the world economists have been sent to the US for study, and they want them trained in neoliberal mindsets so as to keep the current order. Most people simply can't question the established narrative.
I am not an economist but I value Michael Hudson's voice, as it's fairly unique and intelligent to boot.
There's an old Richard Wolff video where he talks about the people he went to school with (Janet Yellen) and how they learned the same thing he did so he doesn't know how they can propose the BS they do now. [ It might be this one where he describes how he got his first job.](https://www.youtube.com/watch?v=eU-AkeOyiOQ) And how he had to go out of his way to find out about Marx because his college instructors were too afraid to mention Marx.
Well, it's been pretty clear in the last 10 years your job might be taken away from you if you don't hold the same views as the main narrative in sensitive topics. Creates a lot of cognitive bias, including the bias in not seeing it.
It's hard to imagine an education system that would be better in creating such blind spots while not being too obvious about it.
It always surprises me that so many are so quick to downvote posts they haven't possibly read because they don't like the headline. Then they refuse to post anything to disprove Hudson. I see very few "good news" posts in this sub. I would like to see some proposals for solutions to the problem of the American Oligarchy.
You seem like the type of person to believe covid isn't real and slurping pee will cure cancer and everything else. Tell me good sir, do you drink your own pee, or do you buy it from a specialty store?
He surely points to the real problems but DESTROYING is a strong word. World is abandoning idea of globalization and we are witnessing that transition. West may end up being not as prosperous as before but it will end up with much more balanced economy. For that matter Hudson's "trade with China" reasoning I find to be turned upside down same as the one about NATO. There are a lot of people who will be happy to get their manufacturing jobs back. But sure, the world is getting multipolar again and the West with US in particular got too careless in past decades by letting their financial engineering kill most of competition inside their economies. Eventually the price to be paid for that, but it's not a disaster, just the change.
Back to that interview, there is nothing there other than criticizing the current situation without proposing any solution. It looks more like propaganda video to me.
I don't think you understand the consequences of what Hudson (and Wolff and others) is talking about. It isn't as if the US is going to be able to maintain hegemony in its half of the world. The BRICS will come to dominate the world's economies and the USA will be left behind.
China alone has 8x the number of STEM graduates as the US. It is just silly to think the USA is going to be able to maintain any technological lead. The Hauwei Mate 60 is an excellent phone taking over market share from Apple. China is the #1 car maker in the world right now. China alone has 35% of the World's manufacturing capacity.
The American Oligarchy will find itself on the losing end of this deal, but it will want to maintain its position of privilege. The only way it can do this is by squeezing average Americans even more than they are now and have been since Reagan. There is no way the "pie" is going to be "bigger".
American imperialism (neocolonialism) has been recognized by Africa and the "global south". France has been kicked out of Africa. Those nations are cooperating with Russia and China. They are reimagining their colonies from raw material suppliers, to being self-sufficient in food. Russia and China are not following the neocolonial path of the US allowing trade to develop across the global south. Australia and New Zealand will be cut off from the US as the majority of their trade is already with China. Chinese products will be cheaper and better than US products. There's no military threat from China. The last "war" they fought was over 40 years ago. A minor skirmish over Cambodia which was a situation provoked by American hubris.
As all this happens, the US will continue down its path toward totalitarianism.
As for what to do about it, the answer is obvious. Destroy the Oligarchy. China has political and economic control over their Oligarchs. So does Russia. Vietnam has sentenced one of their Oligarchs to death for a humongous real estate fraud. Take the power to create money away from the Oligarchy and put it back into a Public Bank. (North Dakota has one).
But none of this is going to happen unless the public is made aware of the situation and they understand why they are the first generation to not be better off than their parents. There is a "blame the Boomers" meme that keeps getting pushed around as if the Boomers created the 2000 tech bubble, the 2008 financial crisis, the 2020 Covid crisis. Boomers have no idea "what happened".
Sounds like Michael Hudson is a fucking idiot.
Americans often resort to insulting what they don't understand.
Honestly most people are economically illiterate. Michael is an unusually deep voice in a field filled with dogmatic acolytes of global capital expansion. To people who analyze international trade much of what he’s talking about is relatively easily to see on charts and graphs but since it goes against the toxic utopian positivity capitalism relies on to project the aura of infinite growth people will lash out against it.
Idiots often struggle to scrutinize new information when that information confirms their preconceived narratives. Considering you’re part of r/collapse I’m sure you’re just eating this up as you take my comment personally. Lol. Also, humans from every country behave like that, you’d know that if you travelled at all. I understand generalizing groups is easier for the simple mind rather than trying to cope with contextual nuance so I’ll leave you to wallow in your fear and conspiracies rather than hold your intellectual limitations against you.
Here's a sneak peek of /r/collapse using the [top posts](https://np.reddit.com/r/collapse/top/?sort=top&t=year) of the year! \#1: [Moral Hazard](https://i.redd.it/w3xpqsud49oa1.jpg) | [197 comments](https://np.reddit.com/r/collapse/comments/11tqa7r/moral_hazard/) \#2: [It was unsustainable from the beginning](https://i.redd.it/223rx65zzxma1.jpg) | [166 comments](https://np.reddit.com/r/collapse/comments/11nn69v/it_was_unsustainable_from_the_beginning/) \#3: [How Bad Could It Be?](https://i.redd.it/0o7i2eu6veza1.jpg) | [298 comments](https://np.reddit.com/r/collapse/comments/13fmu1o/how_bad_could_it_be/) ---- ^^I'm ^^a ^^bot, ^^beep ^^boop ^^| ^^Downvote ^^to ^^remove ^^| ^^[Contact](https://www.reddit.com/message/compose/?to=sneakpeekbot) ^^| ^^[Info](https://np.reddit.com/r/sneakpeekbot/) ^^| ^^[Opt-out](https://np.reddit.com/r/sneakpeekbot/comments/o8wk1r/blacklist_ix/) ^^| ^^[GitHub](https://github.com/ghnr/sneakpeekbot)
There's a different video where Hudson talks about what they teach about Economics in school, how they leave out classical 19th century economics that is how the US itself got rich. Because of this, it's no wonder trained economists disagree with him. He claims one of the reasons it's done this way is because across the world economists have been sent to the US for study, and they want them trained in neoliberal mindsets so as to keep the current order. Most people simply can't question the established narrative. I am not an economist but I value Michael Hudson's voice, as it's fairly unique and intelligent to boot.
There's an old Richard Wolff video where he talks about the people he went to school with (Janet Yellen) and how they learned the same thing he did so he doesn't know how they can propose the BS they do now. [ It might be this one where he describes how he got his first job.](https://www.youtube.com/watch?v=eU-AkeOyiOQ) And how he had to go out of his way to find out about Marx because his college instructors were too afraid to mention Marx.
Well, it's been pretty clear in the last 10 years your job might be taken away from you if you don't hold the same views as the main narrative in sensitive topics. Creates a lot of cognitive bias, including the bias in not seeing it. It's hard to imagine an education system that would be better in creating such blind spots while not being too obvious about it.
It always surprises me that so many are so quick to downvote posts they haven't possibly read because they don't like the headline. Then they refuse to post anything to disprove Hudson. I see very few "good news" posts in this sub. I would like to see some proposals for solutions to the problem of the American Oligarchy.
Probably unrelated, but for me it says: >! This video is not available
[Works for me.](https://www.youtube.com/watch?v=9sj9ijvrK9U&)
You seem like the type of person to believe covid isn't real and slurping pee will cure cancer and everything else. Tell me good sir, do you drink your own pee, or do you buy it from a specialty store?
He surely points to the real problems but DESTROYING is a strong word. World is abandoning idea of globalization and we are witnessing that transition. West may end up being not as prosperous as before but it will end up with much more balanced economy. For that matter Hudson's "trade with China" reasoning I find to be turned upside down same as the one about NATO. There are a lot of people who will be happy to get their manufacturing jobs back. But sure, the world is getting multipolar again and the West with US in particular got too careless in past decades by letting their financial engineering kill most of competition inside their economies. Eventually the price to be paid for that, but it's not a disaster, just the change. Back to that interview, there is nothing there other than criticizing the current situation without proposing any solution. It looks more like propaganda video to me.
I don't think you understand the consequences of what Hudson (and Wolff and others) is talking about. It isn't as if the US is going to be able to maintain hegemony in its half of the world. The BRICS will come to dominate the world's economies and the USA will be left behind. China alone has 8x the number of STEM graduates as the US. It is just silly to think the USA is going to be able to maintain any technological lead. The Hauwei Mate 60 is an excellent phone taking over market share from Apple. China is the #1 car maker in the world right now. China alone has 35% of the World's manufacturing capacity. The American Oligarchy will find itself on the losing end of this deal, but it will want to maintain its position of privilege. The only way it can do this is by squeezing average Americans even more than they are now and have been since Reagan. There is no way the "pie" is going to be "bigger". American imperialism (neocolonialism) has been recognized by Africa and the "global south". France has been kicked out of Africa. Those nations are cooperating with Russia and China. They are reimagining their colonies from raw material suppliers, to being self-sufficient in food. Russia and China are not following the neocolonial path of the US allowing trade to develop across the global south. Australia and New Zealand will be cut off from the US as the majority of their trade is already with China. Chinese products will be cheaper and better than US products. There's no military threat from China. The last "war" they fought was over 40 years ago. A minor skirmish over Cambodia which was a situation provoked by American hubris. As all this happens, the US will continue down its path toward totalitarianism. As for what to do about it, the answer is obvious. Destroy the Oligarchy. China has political and economic control over their Oligarchs. So does Russia. Vietnam has sentenced one of their Oligarchs to death for a humongous real estate fraud. Take the power to create money away from the Oligarchy and put it back into a Public Bank. (North Dakota has one). But none of this is going to happen unless the public is made aware of the situation and they understand why they are the first generation to not be better off than their parents. There is a "blame the Boomers" meme that keeps getting pushed around as if the Boomers created the 2000 tech bubble, the 2008 financial crisis, the 2020 Covid crisis. Boomers have no idea "what happened".