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Why China Crushed Its Own Tech Giants
In late 2020, Beijing did the unthinkable: it attacked its own champions. Trillions in market value vanished, the world’s largest IPO was halted, and entire industries were banned overnight. Western investors called it “economic suicide,” but they were looking at stock prices while China was looking at its society. This episode explains why the “Golden […]
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BRICS Will Fail to Deliver Anti-imperialism
Multipolarity — the idea that there are more than one decisive economic actors in the global economy — is an important fact. More than anything else, the rise of the People’s Republic of China demonstrates that fact. The size and rate of growth, along with the expansive Belt and Road Initiative, establishes that the PRC […]
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Janissary Words
Kidnapped words are the Janissaries of campaigns to promote an invented reality. Their original identities are obliterated. Worse, unlike the Ottoman Janissaries, figments of the past identity can be retained when its resonance is considered helpful. Words are kidnapped for two reasons. One is to slay them; the other is to exploit them. American politics […]
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India and China Push Gold to Record Highs, then Pull from Western Vaults after Russia Sanctions
Gold prices are at historic highs, buoyed by India and China central bank buying in OTC markets. Further, all-time high levels of gold repatriation are underway, to vaults in Asia. Industry insiders and market experts are puzzled at the intensity and the timing of the gold buys, which seem divorced from economic fundamentals. But these […]
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How Unelected Regulators Unleashed the Derivatives Monster and How It Might Be Tamed
It was not the highly visible acts of Congress but the seemingly mundane and often nontransparent actions of regulatory agencies that empowered the great transformation of the U.S. commercial banks from traditionally conservative deposit-taking and lending businesses into providers of wholesale financial risk management and intermediation services. — Professor Saule Omarova, “The Quiet Metamorphosis, How […]
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The “Food Transition” Is a War on Food, Farmers and the Public
This article begins with a short video based on an interview with researcher Sandi Adams, who describes the plans for agriculture in the rural county of Somerset in south-west England and the UK in general. It’s an important clip because what she describes appears to be part of a wider United Nations agenda handed down […]
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Why Do We Love Consumerism?
De-linking from the dominant ideological themes of capitalist society is a difficult task. The globalization of capital under the regime of neoliberal deregulation has allowed consumerism to establish a pervasive presence throughout the world. Even if we get to know harrowing information about the inequalities and injustices of the reining consumption model, we don’t enact […]
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Defusing the Derivatives Time Bomb: Some Proposed Solutions
The “protected class” is granted “safe harbor” only because their bets are so risky that to let them fail could crash the economy. But why let them bet at all? This is a sequel to a January 15 article titled “Casino Capitalism and the Derivatives Market: Time for Another ‘Lehman Moment’?”, discussing the threat of […]
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