{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"","title":"Richard Wolff & Michael Hudson: Trump's The Big Beautiful And The Ugly","thumbnail_width":200,"thumbnail_height":200,"thumbnail_url":"https://open-images.acast.com/shows/66ee295c5eb59bbcaeb51e6d/1751564921725-cf7e3807-e619-40ff-837b-f2d9631281dd.jpeg?height=200","description":"

Nima Rostami Alkhorshid:

  1. What is the significance of Trump's budget deficit bill in relation to dollar hegemony?
  2. How does Trump's tariff policy impact the U.S. economy and global trade dynamics?
  3. Why are foreign investors beginning to move away from the U.S. dollar and Treasury bonds?
  4. What role does income inequality play in destabilizing the U.S. economy?
  5. How might the BRICS nations reshape global economic power structures?


Michael Hudson:

  1. Trump’s bill, combined with his tariff policies, threatens dollar hegemony by increasing budget deficits and lowering the dollar’s value, making it less attractive to foreign investors.
  2. Tariffs raise import prices and harm consumers while failing to revive U.S. manufacturing due to high domestic production costs.
  3. Foreign investors are moving away from the dollar due to declining exchange rates, rising inflation, and fears of further devaluation.
  4. Income inequality is worsening as tax cuts favor the wealthy while social programs for the poor are cut, creating social instability.
  5. The BRICS nations are building an alternative financial system outside Western control, reducing reliance on the U.S. dollar and institutions like the IMF.


Richard Wolff:

  1. The decline in the dollar reflects a loss of confidence in U.S. economic policy and its long-term stability, accelerating capital flight.
  2. Tariff-driven protectionism disrupts global supply chains and fails to bring back manufacturing because U.S. production costs remain too high.
  3. China’s economic model focuses on state-led development and infrastructure investment rather than speculative finance, offering a viable alternative to Western capitalism.
  4. BRICS growth signals a shift toward a multipolar world where countries can trade and develop without depending on the United States or Europe.
  5. The U.S. response—military spending and sanctions—reflects declining economic influence and a desperate attempt to maintain global dominance.
","author_name":"Nima Rostami Alkhorshid"}