Geopolitical Economy Report

Join economist Michael Hudson, known for his sharp insights on the dollar system, and economic geographer Mick Dunford, who analyzes U.S. economic challenges. They explore whether Trump's policies mark the end of dollar dominance. Topics include the dollar's declining reputation, the impact of U.S. debt on its reserve status, and rising gold prices indicating potential asset bubbles. The discussion also delves into military spending's influence on the dollar and the shifting dynamics of U.S. asset ownership in a multipolar world.

Donald Trump's tariffs are benefiting rich elites at the expense of the majority of the population, argues economist Michael Hudson. He explains how the US trade war on China is isolating the United States and encouraging countries to seek alternatives. Ben Norton hosts the interview. VIDEO: https://www.youtube.com/watch?v=jGsLDQQuzU0 Read Michael Hudson's report "Return of the robber barons – Trump’s distorted view of US tariff history": https://geopoliticaleconomy.com/2025/04/14/michael-hudson-robber-barons-trump-tariffs/ Topics 0:00 Intro 1:11 Michael Hudson highlights 2:09 Interview starts 2:41 Replacing income tax with tariffs 5:40 Government industrial policy 9:22 Reaganomics 2.0 11:29 Gilded Age 14:54 China's model 17:50 (CLIP) JD Vance calls Chinese "peasants" 18:12 Public finance 22:57 Trade war on China 25:12 (CLIP) Trump demands tribute 25:42 US attempt to isolate China 26:30 USA doesn't have many cards 28:55 Import substitution 30:16 Trump is isolating the US 34:58 US dollar system in crisis 38:03 Reindustrialization 40:06 Trump's bullying strategy 43:26 Destroying the post-WWII system 49:06 Global South vs the West 50:58 Democracy or oligarchy? 56:05 Billionaire oligarchs 56:56 Corruption 58:25 Outro

The discussion dives into the aftermath of Trump's tariffs on China, revealing unexpected exemptions for crucial electronics. It highlights China's resilience and surprising economic strength, contrasting it with the faltering U.S. industrial sector. The conversation also touches on shifting trade dynamics, emphasizing China's move towards domestic consumption and reduced dependency on exports. The narrative critiques U.S. economic policies and signals a transition toward a multipolar world, where China's influence grows amidst declining U.S. dominance.

The podcast dives into the explosive impact of Trump's 145% tariffs on China, revealing how these trade tactics may be backfiring on the U.S. economy. It discusses the consequences of economic decoupling and China's pushback against U.S. dominance. Experts analyze the volatility in the bond market, rising Treasury yields, and the widening economic divide between billionaires and the working class. The conversation also touches on the aggressive U.S. foreign policy and the potential for a new cold war.

In a bold move, the Trump administration plans to use tariffs to maintain the dollar's dominance as the world’s reserve currency. Key strategies and the concept of the 'Mar-a-Lago Accord' suggest a radical shift in U.S. economic policy. The discussion dives into the implications of rising de-dollarization trends, particularly with BRICS nations, and the impact of aggressive tariffs on China. Experts analyze the inherent risks, the evolving global power dynamics, and whether America can truly win this economic game of chicken.

Donald Trump's tariffs are revealed as a class war against his base, shifting the tax burden onto the working class. The discussions uncover the chaotic impact of these tariffs on global markets and the challenges they pose to U.S. industries, like the automobile sector. As living costs rise, the podcast highlights the struggles of Americans and introduces the concept of 'slobalization' as a potential solution. A stark contrast is drawn between U.S. trade dependency and the emerging independence of BRICS nations, raising important questions about the future of global trade.

Donald Trump's heavy tariffs have stirred controversy, misleadingly justified as 'reciprocal.' Critics argue these measures will backfire, worsening inflation while failing to boost U.S. manufacturing. The episode dives into the flawed calculations behind trade deficits and the potential repercussions on the U.S. economy. With the looming risk of recession, they discuss the implications for the dollar's dominance and the increasing trade deficit. The analysis questions the effectiveness of these tariffs and their impact on everyday consumers.

US Treasury Secretary Scott Bessent challenges the notion of cheap goods as part of the American dream. The podcast dives into rising inflation and its link to tariffs as the U.S. seeks to decouple from China. It discusses stagnant wages, the concentration of wealth among the richest, and the erosion of income mobility. Exploring the impact on working-class families and the broader economy, the talk critiques the relationship between billionaires and political narratives, exposing the risks of recession and an increasingly unaffordable housing market.

Dimitri Lascaris, a lawyer and journalist hosting Reason2Resist, dives deep into the Canadian political landscape influenced by U.S. actions. He discusses the unsettling threats posed by Trump, from tariffs to annexation. The conversation critiques the elite disconnect in Canada, particularly regarding outdated policies amidst rising global tensions. Lascaris underscores the superficiality of political discourse and calls for informed voting. He also reviews tax proposals from the NDP and Green Party, pushing for a focus on reducing income inequality.

The discussion reveals how Trump's policies favor billionaires while hurting the working class. His administration is packed with wealthy elites, raising questions about true populism. Tax cuts disproportionately benefit the rich, while tariffs impose additional burdens on the poor. The podcast highlights the growing wealth gap and stagnant wages, examining how economic despair fuels voter dissatisfaction. It underscores the need for a more equitable tax structure and critiques the lack of effective alternatives from the Democratic Party.