The Unz Review: An Alternative Media Selection
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After a great deal of delay and kvetching, Brexit is finally happening. This doesn’t mean all that much in the grand scheme of things. While leftists may hysterically accuse Boris Johnson of being “racist” – seemingly only for speaking humorously of burqas as resembling letter-boxes – the Prime Minister and his multicultural team can be... Read More
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Western elites and their lackeys in the media despise Russian president Vladimir Putin and they make no bones about it. The reasons for this should be fairly obvious. Putin has rolled back US ambitions in Syria and Ukraine, aligned himself with Washington's biggest strategic rival in Asia, China, and is currently strengthening his economic ties... Read More
The first thing to understand is that it is not a trade deal. It is Trump backing off his tariffs when he discovered that the tariffs fall on US goods and American consumers, not on China. Trump is covering his retraction by calling it a trade deal. China’s part of the deal is to agree... Read More
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The U.S. is adamant that its assassination of Qassem Soleimani and refusal to leave Iraq is about protecting Americans, but a little known Iraqi parliamentary session reveals how China increasingly strong ties to Baghdad may be shaping America’s new Mideast strategy. Since the U.S. killed Iranian General Qassem Soleimani and Iraqi militia leader Abu Mahdi... Read More
PARIS. The people are angry with their government. Where? Just about everywhere. So what makes ongoing strikes in France so special? Nothing, perhaps, except a certain expectation based on history that French uprisings can produce important changes – or if not, can at least help clarify the issues in contemporary social conflicts. The current ongoing... Read More
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Or…EVERYONE Pays the Piper
In emulating the American economic raison d’etre, China has attempted to develop its unique capitalist model while ignoring that it too will soon suffer the same fate for the same reason: Unsustainable debt. When examining the recent realities of Chinese banking and finance over the past year it seems the steam that president Xi Jinping... Read More
According to the technocratic consensus, developed countries with high median ages and low birth rates need mass migration to pay for pensions. What they don't explain is how importing millions of people to gain employment as cleaners, Uber drivers and retail workers at reduced wages in big expensive cities is going to replenish the coffers... Read More
Trading With China Since 1988
In 1941, the Council on Foreign Relations produced a key document for the US State Department, Methods of Economic Collaboration: The Role of the Grand Area in American Economic Policy. The report proposed that the Western hemisphere, large parts of Europe, the British Empire, the Dutch East Indies, and the Pacific Rim including China and... Read More
Coming decade could see the US take on Russia, China and Iran over the New Silk Road connection
The Raging Twenties started with a bang with the targeted assassination of Iran’s General Qasem Soleimani. Yet a bigger bang awaits us throughout the decade: the myriad declinations of the New Great Game in Eurasia, which pits the US against Russia, China and Iran, the three major nodes of Eurasia integration. Every game-changing act in... Read More
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Ignorance or Denial by the U.S. Poses Grave Dangers
The recent China International Import Expo (CIIE) in Shanghai attracted little attention in the Western press but it is one more reminder that China is an economic and trading powerhouse that has surpassed the US. That is right, the word is “surpassed.” The CIIE also serves to remind us that China’s economic power now stands... Read More
Last year, AT&T got a $3 billion dollar tax break from the GOP's "Tax Cuts and Jobs Act" giveaway to the rich. During its push for the tax cut, the telecommunications giant promised it would create thousands of new middle class jobs. One thing they left out: not for Americans. An excellent investigation conducted by... Read More
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The Saker: Trump has been accused of not thinking forward, of not having a long-term strategy regarding the consequences of assassinating General Soleimani. Does the United States in fact have a strategy in the Near East, or is it only ad hoc? Michael Hudson: Of course American strategists will deny that the recent actions do... Read More
The bombshell facts were delivered by caretaker Iraqi Prime Minister Adil Abdul-Mahdi, during an extraordinary, historic parliamentary session in Baghdad on Sunday. Maj. Gen. Qasem Soleimani had flown into Baghdad on a normal carrier flight, carrying a diplomatic passport. He had been sent by Tehran to deliver, in person, a reply to a message from... Read More
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The mainstream media are carefully sidestepping the method behind America’s seeming madness in assassinating Islamic Revolutionary Guard general Qassim Suleimani to start the New Year. The logic behind the assassination this was a long-standing application of U.S. global policy, not just a personality quirk of Donald Trump’s impulsive action. His assassination of Iranian military leader... Read More
Bold Initiative, Elite Power Grab &/or Empty Virtue Signaling?
The European Union has presented an astonishing plan to make Europe the first “climate-neutral continent” by 2050. Your humble servant is not sure what to make of this, even after consulting some of the EU’s copious documentation on the topic. At a time when all the major economies – the United States of America, China,... Read More
Humans are exterminating themselves by exterminating other life forms. As a person committed to free thought, I sometimes catch myself wondering if what is really needed is a form of Borg Star Trek mind control to stop us from destroying the planet for the sake of profits for the few. External costs are neglected by... Read More
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Although Nietzsche seems to be the philosopher of choice for many on the Dissident Right, I’ve always had a soft spot for Arthur Schopenhauer. His cantankerous philosophical pessimism has always struck a chord with my own temperament, and for many years I’ve found his quasi-Buddhist and highly compassionate conceptualisation of suffering to be strangely comforting.... Read More
America is a country of scandals. The latest scandal is the Jewish multi-billionaire Mike Bloomberg’s use of prison labor call centers to spread the message of his presidential campaign. It seems to me that Bloomberg’s attack on the American Constitution is the scandal, not his use of prison labor. Bloomberg wants to repeal the Second... Read More
Every year for the past decade, the $100 million dollar agribusiness lobby has gotten an amnesty bill on the Congressional agenda. In a nation governed by reason, they would use this money to attract American workers with higher pay and benefits or develop new technology to do the farm work. Instead, they would rather cheat... Read More
The bickering over impeachment did not stop the president and Congress from coming together last week to avert a government shutdown by passing a 1.4 trillion dollar spending package. The bipartisan agreement has something for everyone — a 22 billion dollars increase to bring total spending on militarism to 738 billion dollars, and a 27... Read More
Chinese cargo truck coming from the Kyrgiz-China border. Photo: Asia Times / Pepe Escobar
This journey into the past also reaches the heart of 21st century China’s New Silk Roads strategy
At the start of the Tang dynasty, in the early 7th century, a young wandering monk embarked on a 16-year long voyage from the imperial capital Chang’an (today’s Xian) to India to collect Buddhist manuscripts. At the time Chang’an was six times bigger than Rome at its height, with a population of over one million... Read More
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IMMR CoffeeHouse Discussion Forum # 8 Full Transcript (EDITED VERSION) Thurs. Dec. 19, 2019 Michael Hudson on how debt money has pushed the US and European economies to their financial limit. Followed by an open discussion forum. INVITATION: I’m sure you have many discussions of bank money causing problems. My focus is on how banks... Read More
vultureoo
It was very gratifying to see Tucker Carlson’s recent attack on the activities of Paul Singer’s vulture fund, Elliot Associates, a group I first profiled four years ago. In many respects, it is truly remarkable that vulture funds like Singer’s escaped major media attention prior to this, especially when one considers how extraordinarily harmful and... Read More
According to official US government economic data, the US economy has been growing for 10.5 years since June of 2009. The reason that the US government can produce this false conclusion is that costs that are subtrahends from GDP are not included in the measure. Instead, many costs are counted not as subtractions from growth... Read More
Chinese container cargo trucks after crossing the Kulma pass at the Tajik-China border. Photo: Pepe Escobar / Asia Times
This is arguably the ultimate road trip on earth. Marco Polo did it. All the legendary Silk Road explorers did it. Traveling the Pamir Highway back to back, as a harsh winter approaches, able to appreciate it in full, in silence and solitude, offers not only a historical plunge into the intricacies of the ancient... Read More
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Testing Chinese and American Kids
Every three years the OECD tests fifteen year-olds around the world in reasoning and self-expression. China, aspiring to join the OECD club of developed nations, entered seven regions with a total population of 250 million–Beijing, Shanghai, and Jiangsu, Zhejiang, Hong Kong, Macao and Taiwan–and the results from the most recent tests were released this week.... Read More
Central Asia, betweem China and Europe, is bustling
We are cruising on a pristine, 380 km-long four-lane superhighway from Almaty to Khorgos – finished in 2016 for $1.25 billion, 85% of the cost covered by a World Bank loan. And then, suddenly, riding parallel to us, there’s the real superstar of New Silk Road connectivity. Meet Yuxinou, the container cargo train plying back... Read More
The pros and cons of being the Heartland in the 21st century
Nur-Sultan, Kazakhstan. Crossing Tajikistan from west to northeast – Dushanbe to the Tajik-Kyrgyz border – and then Kyrgyzstan from south to north all the way to Bishkek via Osh, is one of the most extraordinary road trips on earth. Not only this is prime Ancient Silk Road territory but now is being propelled as a... Read More
Kazakhstan’s first president has road map for 21st century: global alliance of leaders for nuclear-free world
The Astana Club is one of the most crucial annual meetings in Eurasia, alongside the Boao forum in China and the Valdai discussions in Russia. China, Russia and Kazakhstan are all at the forefront of Eurasia integration. No wonder, then, that the 5th meeting of the Astana Club had to focus on Greater Eurasia –... Read More
Lost in the media’s obsession with the impeachment circus last week was Federal Reserve Chairman Jerome Powell’s testimony on the state of the economy before the Joint Economic Committee. In his testimony, Chairman Powell warned that when the next recession inevitably occurs, the US Government’s over $23 trillion debt would prevent Congress from increasing spending... Read More
They pledged to do it, and they did - Bolivian feudal lords, mass media magnates and other treasonous “elites” – they overthrew the government, broke hope and interrupted an extremely successful socialist process in what was once one of the poorest countries in South America. One day, they will be cursed by their own nation.... Read More
It is wrong, totally wrong to abandon Jakarta and try to build some Potemkin village in the middle of Borneo, an island known in Indonesia as Kalimantan. There are many reasons why, and we will be addressing at least some of them here. But before we begin, let us state the obvious: the cowardly and... Read More
When the New York Federal Reserve began pumping billions of dollars a day into the repurchasing (repo) markets (the market banks use to make short-term loans to each other) in September, they said this would only be necessary for a few weeks. Yet, last Wednesday, almost two months after the Fed’s initial intervention, the New... Read More
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Eurasia has most of the world's wealth, resources, and population — yet there is very low economic connectivity. A Sino-Russian partnership can collectively create a gravitational pull that allows them to capture the geoeconomic levers of power by creating an alternative to the Western-centric model. This entails developing new global value chains that captures the... Read More
US-Australia-Japan alternative to Belt and Road helps explain why the US sent a junior delegation to Thailand and why...
Chinese President Xi Jinping six years ago launched New Silk Roads, now better known as the Belt and Road Initiative, the largest, most ambitious, pan-Eurasian infrastructure project of the 21st century. Under the Trump administration, Belt and Road has been utterly demonized 24/7: a toxic cocktail of fear and doubt, with Beijing blamed for everything... Read More
Biggest story at ASEAN was convergence of moves toward Asia integration, leaving Delhi out for now
A pan-Asia high-speed train has left the station – and India – behind. The Regional Comprehensive Economic Partnership (RCEP), which would have been the largest free trade deal in the world, was not signed in Bangkok. It will probably be signed next year in Vietnam, assuming New Delhi goes beyond what ASEAN, with diplomatic finesse... Read More
Above, modern China, and a homeless camp in San Francisco
I spent most of September in China, so last month's diary was all China, China, China. This month's won't be; but I do have a few afterthoughts to record. A few days after I returned, just when I thought I'd gotten China out of my system and was ready to concentrate on America and her... Read More
The presidential election in Argentina pitted the people against neoliberalism and the people won. What happens next will have a tremendous impact all over Latin America and serve as a blueprint for assorted Global South struggles. The presidential election in Argentina was no less than a game-changer and a graphic lesson for the whole Global... Read More
In 1991, demographers Neil Howe and William Strauss published their awkwardly titled tome "13th Gen," about Generation X — the Americans born between 1961 and 1981. If Xers had paid attention, they would have committed suicide. "Child poverty, employment, wages, home ownership, arrest records — in every category, this generation, the 13th since the American... Read More
Neoliberalism is – literally – burning. And from Ecuador to Chile, South America, once again, is showing the way. Against the vicious, one-size-fits-all IMF austerity prescription, which deploys weapons of mass economic destruction to smash national sovereignty and foster social inequality, South America finally seems poised to reclaim the power to forge its own history.... Read More
Thirty-eight years ago when I was in charge of United States domestic economic policy, the US Treasury and President Reagan believed that the purpose of economic policy was to serve the country, not Wall Street and the banks or the corporations or any of the various organized interest groups. Our idea was that policy could... Read More
New European Commission President Ursula von der Leyen wants a “carbon tariff” on imports to Europe.
After decades of piously reciting neoliberal orthodoxy, extolling a ‘post-political’ borderless world, the European Union seems finally to be turning away from free trade. Numerous factors are working in this direction: a decades-late reaction to China’s mercantilist trade policies which have gutted European industry, the threat of trade wars with America under President Donald Trump,... Read More
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Introduction: I recently spoke to a relative of mine who, due to her constant and voluntary exposure to the legacy AngloZionist media, sincerely believed that the three Baltic states and Poland had undergone some kind of wonderful and quasi-miraculous economic and cultural renaissance thanks to their resolute break with the putatively horrible Soviet past and... Read More
A Total-Returns Profile of Economic Polarization in America
Based on work with Dirk Bezemer, with charts by Howard Reed Polarization in America, 23 September 2019 Those who praise the post-2008 economy as a successful recovery point to the fact that the stock market has soared to all-time highs, while the unemployment rate has fallen to a decade-low. But is the stock market a... Read More
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It is very popular these days to talk and write about the “trade war” between the United States and China. But is there really one raging? Or is it, what we are witnessing, simply a clash of political and ideological systems: one being extremely successful and optimistic, the other depressing, full of dark cynicism and... Read More
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In 2003 I published a book charting America’s decline in thirty-six social and economic indicators. I mailed copies to the Administration, Congress and department heads and received one reply, from the Director General of the Central Intelligence Agency, saying that the Agency had been providing almost identical information to the government for decades. Since then... Read More
Huanzhou high-speed train station - one of the biggest in the world
When my dear friend and a great concert pianist from Beijing, Yuan Sheng, used to live in New York, recording, giving concert and teaching at prestigious Manhattan School of Music, he told me that he used to cry at night: “In the United States, they smear China. I felt hurt, defenseless”. He returned to Beijing,... Read More
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Trust the late Anthony Bourdain, the Kerouac of cooking, to blurt out the truth when nobody else would. Following his Jack Kerouac wanderlust, Bourdain had arrived in Seattle to spotlight the manner in which high-tech was changing the city, draining it of its character and of the many quirky characters that made Seattle what it... Read More
Since September 17, the Federal Reserve Bank of New York has pumped billions of dollars into the repurchasing (repo) market, the first such intervention since 2009. The Fed has announced that it will continue to inject as much as 75 billion dollars a day into the repo market until November 4. The repo market provides... Read More
collegebubble
See also Brimelow In FORBES, 1993: Are Universities Obsolete? The college bubble is bursting. Bubbles can’t last forever and in the Anglosphere this particular bubble has lasted since the nineteenth century. But universities, even the hard sciences, have now been debauched by anti-science Social Justice Warriors, as I’ve documented here, here, and here. At the... Read More
Category Classics
How a Young Syndicate Lawyer from Chicago Earned a Fortune Looting the Property of the Japanese-Americans, then Lived...
Which superpower is more threatened by its “extractive elites”?