War, Force is a Racket

TRUMP'S ECONOMIC WAR ON IRAN BACKFIRING. US FACES DEPRESSION & FINANCIAL CRASH.. PROF MICHAEL HUDSON <


https://youtu.be/tXDKBcGmT1g?si=pxLVn58SPMhIdnd2<


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One capitalist always kills many", ( Charles Brown: especially in economic crashes ). < <



https://www.marxists.org/archive/marx/works/1867-c1/ch32.htm>


This is what Karl Marx said about the monopoly phase of capitalism. Just like in the game of monopoly , the monopoly capitalists buy up all the failing capitalists cheap in downturns. So, the biggest capitalists _want_ economic recession. Corporations also want high unemployment as the competition from unemployed for jobs puts pressure on to lower wages. The stock market rallies when unemployment goes up; and vica versa.< <


Thus, the Republican Party elected officials' policies seek to cause economic downturn : cut Keynesian social spending to reduce effective demand .


So, Republican Trump seeks to cause recession /depression with his tarriff and war policies .


Michael Hudson : Well, a few months ago, Donald Trump came out and said, "Well, you know, the yes, it's true that uh the uh if we uh really block the oil trade and uh try to starve Iran by starving the whole rest of the world, the rest of the world's going to suffer. But the United States is going to suffer less than other countries because our economy is self-sufficient in oil and gas. But it's the problem is that the US economy is not only uh a a gas station with atom bombs as they say about Russia. It's a financialized economy. And if other countries are not able to un balance their payments as a result of7:7:06 uh balance their payments as a result of having to pay much more money for their 7:12 fuel imports and fertilizer imports and all the others, they can't pay their foreign debts. uh as that the global 7:20 south countries have been running up and are falling due and the industries uh of 7:26 private sector industries can not afford uh to pay their credit. There'll be 7:31 defaults all along the financial system and the United States is the most 7:38 financially exposed economy in the world as it was in 1929 uh with the stock 7:44 market crash. And so there's there will be problems with uh the with the United 7:52 States that'll be just as serious as other06 balance their payments as a result of having to pay much more money for their 7:12 fuel imports and fertilizer imports and all the others, they can't pay their foreign debts. uh as that the global 7:20 south countries have been running up and are falling due and the industries uh of 7:26 private sector industries can not afford uh to pay their credit. There'll be 7:31 defaults all along the financial system and the United States is the most 7:38 financially exposed economy in the world as it was in 1929 uh with the stock 7:44 market crash. And so there's there will be problems with uh the with the United 7:52 States that'll be just as serious as otherStates that'll be just as serious as other uh countries are suffering. That's what Donald Trump does not seem to have taken account of. Uh and the Federal Reserve is not much help here. Uh the a lot of the financial community is saying well higher oil prices are going to be inflationary. But the effect of this uh this price increase that's already occurring day after day after day uh as long as the straight of Hermuz is closed by the United States. Well, this is causing a deflation. Uh yes, oil prices are going up, but if the result is unemployment and the production cutbacks in industry and agriculture for the whole economy, that's going to be a huge<



Wow. Yeah, that's uh that's really quite uh uh something. Uh I mean what's what's 10:33 the kind of uh net effect on you know um the serviceability of US debt over the 10:42 kind of medium term from the you know deflationary uh spiral that we 10:48 may be starting to enter into at the moment. there's no problem at all in uh servicing the US debt because unlike a 10:56 lot of other countries the US debt is at least in its own currency and the United 11:02 States can simply keep printing the money to pay the debt and this is not necessarily in inflationary of goods and 11:09 service prices because when the moneycreditors to the government these creditors and bond holders holders don't spend their money on goods and services 11:23 primarily. They spend it on making new loans and buying stocks and bonds and 11:28 and increasing the debt overhead. So the the financial system is very insulated 11:36 from the real economy of production and consumption and is autonomous from it. 11:41 That's what a mainstream economic theory doesn't doesn't get. Uh it the 11:48 mainstream theory is largely designed to as public relations of mythology by the 11:55 financial sector to depict it as playing a productive role in the real economy. 12:01 But finance is independent from production12:45 12:51 12:57 13:03 13:11 13:18 13:23 13:30 in the 17th century by Malik Poselwait and other writers that you know not many people read today and Poselwait and critics of foreign debt said, "Well, uh, these, uh, this foreign debt that we're paying to foreign creditors and even domestic creditors really is a drain on the economy because these creditors don't spend their money on domestic industry or agriculture. They spend their money either on making new loans or they buy luxury real estate especially in London, Paris and other financial c centers and they buy imports. So that most of this growth in US uh private sector consumption is largely luxury imports from Italy and uhmoney eitner on making new loans or they buy luxury real estate 13:18 especially in London, Paris and other financial c centers and they buy 13:23 imports. So that most of this growth in US uh private sector consumption is 13:30 largely luxury imports from Italy and uh England for cars and other countries. Uh 13:36 and th this is uh not recognized if you just make a simplistic simplistic uh uh 13:44 assumptions that uh what is paid to creditors gets recycled into the real 13:49 economy. Yeah. So, so uh in short, the bankers 13:54 are just going to get richer from war yet again. Yes. And if you look at how they <


http://take10charles.blogspot.com/2026/05/economic-collapse-is-coming-and-rich.html