- Date published:
5:05 pm, February 3rd, 2019 - 56 comments
Categories: Deep stuff, economy, energy, Financial markets, Globalisation, Iran, law, military, Privatisation, Propaganda, Russia, United Nations, us politics, war - Tags:
Polymath economist Professor Michael Hudson‘s latest article is a geopolitical panoramic masterpiece, sparked by outrage at a series of concurrent events on January 31 which he predicts means that 2019 will be the “year of global fracture.” Definitely worth reading and thinking about.
The irony for him is that it is the neocons and the populist Trump who are initiating “the end of America’s unchallenged global economic dominance.” The root cause he says is clear:
foreign political leaders are coming to recognize what world-wide public opinion polls reported even before the Iraq/Iran-Contra boys turned their attention to the world’s largest oil reserves in Venezuela: The United States is now the greatest threat to peace on the planet.
He goes on to say:
Perhaps the problem had to erupt as a result of the inner dynamics of U.S.-sponsored globalism becoming impossible to impose when the result is financial austerity, waves of population flight from U.S.-sponsored wars, and most of all, U.S. refusal to adhere to the rules and international laws that it itself sponsored seventy years ago in the wake of World War II.
Imperial threats are no longer military. No country (including Russia or China) can mount a military invasion of another major country. Since the Vietnam Era, the only kind of war a democratically elected country can wage is atomic, or at least heavy bombing such as the United States has inflicted on Iraq, Libya and Syria. But now, cyber warfare has become a way of pulling out the connections of any economy. And the major cyber connections are financial money-transfer ones, headed by SWIFT, the acronym for the Society for Worldwide Interbank Financial Telecommunication, which is centered in Belgium.
Where is the left in all this? That is the question with which I opened this article. How remarkable it is that it is only right-wing parties, Alternative for Deutschland (AFD), or Marine le Pen’s French nationalists and those of other countries that are opposing NATO militarization and seeking to revive trade and economic links with the rest of Eurasia.
He is passionate as well as articulate. There are a few mistakes – the head of the World Bank has not always been a former Secretary of Defense – Robert McNamara was and neocon Paul Wolfowitz was Deputy Secretary to Donald Rumsfeld.
But I am sure he is right about global fracture in 2019. Brexit is just for starters.