The show also leads the hour with a comment about the second major economic event of the past week: Trump’s pre-declaration of economic war with China. Using the virus crisis as an excuse and diversion for his abject failure to lead the US during the current health and economic crisis, Trump threatened financial warfare and sanctions on China. How the US employs financial measures to attack other economies and countries is noted, including manipulation of the dollar (the world’s trading and reserve currency), its control over the international payments system (the SWIFT system), and sanctions to prevent other countries and economies from trading with its imperialist target (e.g. China in this case). These and other levers of financial power are increasingly employed by the US in the 21st century. With the US-China trade agreement of last December in shambles, and China not buying US goods nor likely to buy much in the future, Trump now sees China as a convenient scapegoat in an election year.
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TO LISTEN GO TO:
https://alternativevisions.podbean.com/e/alternative-visions-heroes-act-negotiations-us-financial-imperialism-china/
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SHOW ANNOUNCEMENT
Today’s show continues in more depth the discussion last week on the pending Heroes Act in Congress. Is it another mitigation bill, stimulus bill, or a growing subsidy for business bill. What are Republicans proposing to change the original House proposals in the bill? Senate Democrat responses in progress? What’s the true unemployment rate in the US today. Why has the $1.7T in corporate loans under the March ‘Cares Act’ not being taken up by big business? And why is only $95B of the Fed’s $1.7T liquidity provisions to banks being used so far? Is the bailout of households being converted to more subsidies for business? The show concludes with a discussion of how US financial imperialism works, and why Trump is now preparing to leverage it against China marking a new stage in the China-US economic war. Some commentary on Trump’s emerging 2020 election strategy: election fraud.
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