The Unz Review: An Alternative Media Selection
A Collection of Interesting, Important, and Controversial Perspectives Largely Excluded from the American Mainstream Media
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 Most RecentEconomics Archive

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Protestors demonstrate outside of a burning fast food restaurant, Friday, May 29, 2020, in Minneapolis. Protests over the death of George Floyd, a black man who died in police custody Monday, broke out in Minneapolis for a third straight night. (AP Photo/John Minchillo)
The American people are under attack, the country is under attack, and democracy is under attack. At present, the enemy is conducting a three-pronged assault on the presidency the objective of which is to remove the existing administration and install their own sock-puppet replacement. This has been the goal from the very beginning although the... Read More
If some Congress members get their way, the Federal Reserve may soon be able to track many of your purchases in real time and share that information with government agencies. This is just one of the problems with the proposed “digital dollar” or “fedcoin.” Fedcoin was initially included in the first coronavirus spending bill. While... Read More
Richard Sackler
I was in high school the first time I used heroin. I had started with marijuana in the tenth grade, which, like it or not, is a gateway drug. Marijuana gave way to psilocybin mushrooms, and then to alcohol, and the deluge poured forth. Oxycodone, LSD, MDMA, DMT, Ketamine, and then opium and cocaine. It... Read More
Truck driving remains one of the last few professions in America that can provide stable and decently compensated employment Workers in this field are generally thought of as white men from the heartland of America. During the Covid lockdowns truckers have managed to keep stores stocked, yet at the same time, they have also been... Read More
Two decades after a political earthquake, a powerful aftershock that should be rocking Brazil apart is being met with thunderous silence. What is now termed “the Banestado leaks” and “CC5gate” is straight out of vintage WikiLeaks: a list, published for the first time in full, naming names and detailing one of the biggest corruption and... Read More
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or, How I Learned to Stop Worrying and Love Multipolarity
INTRODUCTION As a nationalist in the west, it’s often difficult to find any reasons for optimism. A typical month may involve any combination of social media bans, deplatforming and physical threats from society’s dregs, and there is seemingly little to show for the sacrifice by way of tangible victories. I might be forgiven then, for... Read More
Michael Hudson’s landmark 2015 book “Killing the Host” exposed how the empires of finance, insurance and real estate captured the global economy through neo-liberalism and sold us down the road to neo-feudalism. Michael returns to the show to describe why the current global economic demise is the fruit of consummate greed, crony politics and rapacious... Read More
CNN is happy to report more bad news that can help the presstitutes unseat President Trump: “Mass unemployment. Surging bankruptcies. An unprecedented health crisis. It’s going to be really ugly. Here come the big bank earnings.” The report has interesting information that CNN doesn’t seem to have noticed. CNN reports that banks are in trouble... Read More
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Half a billion dollars goes to companies and foundations
Washington D.C. is surely one of the most corrupt places on earth. Money talks and nearly everyone into the game sometimes referred to as politics has his or her hand out and expects to end up a millionaire. Given that, it should surprise no one to learn that a large chunk of the CARES Business... Read More
Federal Reserve Chair Jerome Powell and San Francisco Fed President Mary Daly both recently denied that the Federal Reserve’s policies create economic inequality. Unfortunately for Powell, Daly, and other Fed promoters, a cursory look at the Fed’s operations shows that the central bank is the leading cause of economic inequality. The Federal Reserve manipulates the... Read More
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A common topic around the web is whether automation will drastically increase unemployment. The usual scholarly answer is only a bit, and conservatives often insist that new jobs will always be found. Actually, automation has already created much joblessness. It continues to do so. We don’t notice because we have disguised the unemployment. Consider. In... Read More
New York, 2011
In a recent article, “Smashing Culture,” I briefly described a scene in Philadelphia from 30+ years ago. Sitting in McGlinchey’s, I was drinking Rolling Rock. This trivia triggered a most curious yet telling response from a commenter, “Rolling Rock? – really? Were you listening to the Eagles too? Nice street cred attempt, but it’s either... Read More
Two of the US’s top “strategic threats” are getting closer and closer within the scope of the New Silk Roads – the leading 21st century project of economic integration across Eurasia. The Deep State will not be amused. Iranian Foreign Ministry spokesman Abbas Mousavi blasted as "lies" a series of rumors about the “transparent roadmap”... Read More
outlook-vvlhxzp5
The imposition of the nationwide lockdowns required elite consensus. There's no way that a project of that magnitude could have been carried out absent the nearly universal support of establishment elites and their lackeys in the political class. There must have also been a fairly-detailed media strategy that excluded the voices of lockdown opponents while--... Read More
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Bad news for southern Europe. It looks like coronavirus will further entrench the European Union’s long-standing disparities between north and south. According to the European Commission’s estimates, the economies of Italy, Spain, and Greece will all shrink over 9%. By comparison, the EU average is 7.4%. France will shrink 8.2%, while most Nordic/Germanic countries will... Read More
COVID-19 has created the ideal medium for a summer of continuous protest. Political protests and demonstrations used to be weekend affairs during which angry leftists shouted at empty government offices before shuffling home Sunday afternoon to gear up for the workweek. With 1 out of 4 workers having filed for unemployment and many more working... Read More
Michael Hudson: Well, I think you’re quite right in organizing the conference to point out that today’s pandemic crisis hastens and intensifies the internal contradictions that have been building up. Many of these contradictions are going to be blamed simply on the virus. But there is an underlying problem that the virus is exposing and... Read More
Coronavirus has made such a strong comeback that the governors of New York, New Jersey, and Connecticut have imposed a 14-day quarantine on travelers who arrive from Alabama, Arkansas, Arizona, Florida, North Carolina, South Carolina, Washington, Utah, and Texas. On Wednesday June 24 California, Texas, and Florida set new daily infection records. Overall on Wednesday... Read More
The conservative majority on the Supreme Court may betray America on cultural issues, but it does equally as impressive legal back flips to protect corporations who want to steal their worker's pensions. In Thole v. U.S. Bank, Judge Kavanaugh led a 5-4 ruling stating that the retirees suing their employers for enriching themselves by mismanaging... Read More
As one example, this many decades ago, we noticed that in our city in Canada one brand of American convenience store seemed to have a habit of opening new stores within a stone's throw of the existing 'mom and pop' variety stores (as they were then called), these shiny and attractive new shops inevitably resulting... Read More
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(Twilight Zone 2020)
You are a globalist. Not you personally, gentle reader. Let me explain. We’re going on a voyage through sight and sound and mind, unlocking that door with that key of imagination (it’s still around), crossing over into Twilight Zone 2020. When we’re done, you’ll have seen the world through the eyes of a globalist. Which... Read More
An Airbnb customer who wrote an email complaining about the company's support for extremist groups was banned by its executives in retaliation. In the email chain provided to National Justice, a man who used the service heavily and had perfect reviews expressed concern for his own safety as a white conservative renting from the platform... Read More
In a sign that the Federal Reserve is growing increasingly desperate to jump-start the economy, the Fed’s Secondary Market Credit Facility has begun purchasing individual corporate bonds. The Secondary Market Credit Facility was created by Congress as part of a coronavirus stimulus bill to purchase as much as 750 billion dollars of corporate credit. Until... Read More
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To most people, if they are familiar with it at all, BlackRock is an asset manager that helps pension funds and retirees manage their savings through “passive” investments that track the stock market. But working behind the scenes, it is much more than that. BlackRock has been called “the most powerful institution in the financial... Read More
Jamie Dimon and JP Morgan Chase
I have to say that I am amazed that so many folks on the Left seem to think that the current riots in the US are a spontaneous rebellion against police violence, systemic racism, and history of persecution and exploitation of Blacks and Indians, etc. As for the violence, looting and riots - they are... Read More
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The intergenerational wealth gap, the housing crisis, and how “BLM vs. MAGA” poisons the discussion on every issue...
Recent events have made it harder but more necessary than ever to eschew the reactive tribalism encapsulated currently by “BLM vs. MAGA” in favor of an honest dialogue about the material conditions under which middle-to-lower class Americans in both camps increasingly suffer. Case in point is the BLM camp’s focus on “white supremacy” as a... Read More
Professor Sergey Karaganov is informally known in influential foreign policy circles as the “Russian Kissinger” – with the extra bonus of not having to carry a “war criminal” tag from Vietnam and Cambodia to Chile and beyond. Karaganov is the dean of the Faculty of World Economy and International Affairs at the National Research University... Read More
Once upon a time in Pipelineistan, tales of woe were the norm. Shattered dreams littered the chessboard – from IPI vs. TAPI in the AfPak realm to the neck-twisting Nabucco opera in Europe. In sharp contrast, whenever China entered the picture, successful completion prevailed. Beijing financed a gas pipeline from Turkmenistan to Xinjiang, finished in... Read More
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Have you noticed the peculiar fact that despite the lockdown, the economic crisis, tens of millions unemployed and multiple corporations filing for bankruptcy, Wall Street is having a ball? CNBC‘s Jim Cramer examined this anomaly earlier a few days ago, his verdict: “we're looking at a V-shaped recovery in the stock market, and that has... Read More
Hanne Herland of the European Herland Report has just had her book published in which she argues that the ruling elite has resurrected feudalism by financializing the economy and offshoring middle class jobs. The title is New Left Tyranny, but it is about gangster state capitalism. Historically, capitalism freed labor from bondage by making labor... Read More
The Federal Reserve is directly buying stocks, bonds, junk bonds, mortgages, junk mortgages, all to prop up the value of assets owned by the top 5%. This does not spur much new production or create jobs. Michael Hudson joins Paul Jay on theAnalysis.news podcast
Six hundred physicians recently signed a letter to President Trump calling for an end to the coronavirus lockdowns. The physicians wrote that, far from protecting public health, the lockdowns are causing “exponentially growing negative health consequences” for millions of Americans. Since the lockdowns began, there have been increases in alcoholism, drug abuse, and domestic violence.... Read More
china-us-xi-trump
Stranger things have happened. Everyone was expecting US President Donald Trump to go nuclear by de facto sanctioning China to death over Hong Kong. In an environment where Twitter and the President of the United States are now engaged in open warfare, the rule is that there are no rules anymore. So in the end,... Read More
With the specter of a New Great Depression hovering over most of the planet, realpolitik perspectives for a radical change of the political economy framework we live in are not exactly encouraging. Western ruling elites will be deploying myriad tactics to perpetuate the passivity of populations barely emerging from de facto house arrest, including a... Read More
France and Germany recently agreed in principle to create a €500 billion three-year fund to relaunch the European economy after the coronavirus crisis. This would be funded by the EU raising funds on financial markets and then using these to invest in those countries and sectors worst-hit by the crisis. This represents a great leap... Read More
Economic activity across the country has collapsed, GDP is shrinking at the fastest pace on record, and the economic data is worse than anytime in history. Every sector of the economy is contracting and every economic indicator is pointing down. According to economist Nouriel Roubini, the country is headed towards a decade of "depression and... Read More
penfieldfinance-1
Can we cut the faux Outrage over ‘The Fed’ and the evil ‘One Percenters’ and focus on illicit Counterfeiting and...
With the national debt reaching absurd heights and personal home/auto/college/credit card debt sucking the joy out of life, it’s long overdue for a fresh look at this ancient topic. If your understanding of financial matters is informed by mainstream news and/or subsidized academics, I’m guessing you may have missed some key points—since both groups love... Read More
[Intro] Welcome to the Knowledge Problem Podcast, the objective of this podcast is to engage policy professionals over thought provoking and sometimes sensitive topics. We aim to bring these professionals together in a way that does not feed the tribalistic narratives plaguing society today. It is my hope and the hope of all involved in... Read More
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Donald Trump calls the media "the enemy of the people", but it's much worse than that. The media is a national security threat. Just look at the way they've handled the coronavirus. The hysterical 24-7 coverage has people so terrified they've locked themselves in their homes inflicting catastrophic damage on the economy. That disaster never... Read More
On April 21st the Washington Post savaged Georgia governor Brian Kemp’s decision to begin opening his state after locking down for weeks. “Georgia leads the race to become America’s No. 1 Death Destination,” sneered the headline. The author, liberal pundit Dana Milbank, actually found the possibility of Georgians dying to be hilarious, suggesting that, “as... Read More
America can’t do wthout an enemy. An enemy is what funds America’s largest industry—military spending—and an enemy provides a national security focus which holds our tower of babel together. During the Obama regime Russia was re-established as The Enemy. Trump’s intent to normalize relations with Russia, that is, to erase Russia’s enemy status, brought fire... Read More
In mid-April, the US Federal Reserve began "swapping" $500 billion dollars with banks around the world. The almighty dollar is virtually the only chip you can use in the international capitalist casino. Globally, non-American banks hold $12.4 trillion dollars, which they loan out to other non-American entities for loans, to pay debts, or to conduct... Read More
Under fire for his handling of the coronavirus pandemic, President Donald Trump, his campaign and his party are moving to lay blame for the 80,000 U.S. dead at the feet of the Communist Party of China and, by extension, its longtime General Secretary, President Xi Jinping. "There is a significant amount of evidence" that the... Read More
A Fresno, California waffle restaurant dared to open its doors for business this weekend to the delight of a long line of customers, who waited up to two hours for the “privilege” of willingly spending their money in a business happy to serve them breakfast on Mother’s Day. This freedom of voluntary transaction is the... Read More
The shadowy figures of well-armed Isis gunmen can be seen making an attack in the plains of northern Iraq on an outpost held by paramilitary fighters loyal to the Iraqi government. Some four of the latter are killed by a roadside bomb. Isis specialises in publicising its successful military actions online to show that it... Read More
david-geffen
Some people enjoy isolation and self-seclusion. The Jewish billionaire David Geffen is one of them. He posted the above picture of his yacht onto Social Media saying: “Isolated in the Grenadines avoiding the virus, I’m hoping everybody is staying safe.” It is probably very different from your self-seclusion, and surely different from the seclusion imposed... Read More
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Beijing is turbocharging its Belt and Road and other game-changing plans despite Covid-19 and US hybrid warfare
Amid the deepest economic contraction in nearly a century, President Xi Jinping had already made it very clear, last month, that China should be ready for unprecedented, relentless foreign challenges. He was not referring only to the possible decoupling of global supply chains and the non-stop demonization of every project related to the New Silk... Read More
A China yuan banknote featuring late Chinese chairman Mao Zedong and a computer keyboard are seen reflected on an image of Chinese flag in this illustration picture taken November 1, 2019.  REUTERS/Florence Lo/Illustration - RC14C5905790
A new, radical paradigm shift is in progress. The U.S. economy may shrink as much as 40% in the first semester of 2020. China, already the world’s largest economy by PPP for a few years now, may soon become the world’s largest economy even in exchange rate terms. The post-Planet Lockdown world – still a... Read More
At present, there is no vaccine for the coronavirus. That means that one of the two paths to immunity is blocked. The other path is “herd immunity,” in which a critical mass of infection occurs in lower-risk populations that ultimately thwarts transmission. Herd immunity is the only path that is currently available. Let that sink... Read More
“In the absence of clinical therapies or a vaccine for coronavirus, the successful return to work rests, very plainly, on the willingness of the citizenry to cover up, keep clean and keep a distance.” (“The Ethics of Social Distancing: A Libertarian Perspective.”) If businesses want customers to resume consumption and workers to stay safe and... Read More
Category Classics
The sources of America’s immigration problems—and a possible solution
Which superpower is more threatened by its “extractive elites”?
How a Young Syndicate Lawyer from Chicago Earned a Fortune Looting the Property of the Japanese-Americans, then Lived...