The finance sector in the west is the enemy within

Professor Michael Hudson is interviewed on this week’s Renegade Inc and it is well worth the 29 minute watch. In a quick tour of the Chinese economic system Michael Hudson suggests that China is beginning to understand that private rent extraction has led to Western societal decline and thus it wants to avoid using property… Read more

Johnson’s ‘Global Britain’..

…Would appear to be code not just for a simple lack of diplomacy but for wonderful and world-beating, world-wide incompetence. They are caught without any preparation for the withdrawal from Afghanistan – even though the foreign office had already reported in January that preparations should be made. The Foreign Secretary of the time had not… Read more

The addiction to cheapness makes the economy especially ‘fragile’

There are some things that ‘should’ , it seems, be cheap: food, ‘labour’ and consumer goods are most usually cited…. What isn’t ever cheap is housing – whether purchased or rented – indeed any ‘real estate’ property is rarely cheap. Though it is virtually never mentioned, expensive housing inhibits the ability to compete ‘globally’ (to… Read more

Market based capitalism can’t compete with state sponsored capitalism

There is an interesting article here on how Trump is effectively bound to be outsmarted in his trade war with China. America suffers from the same problem as Britain – it doesn’t make much anymore. So if the currency reduces in value there is no opportunity to increase exports because it there is nothing much… Read more