Geopolitical Economy Report

There are growing signs that the United States may be on the verge of another major financial crisis, one that could start in the $3 trillion private credit market, which is already seeing significant turmoil, before spreading to other sectors.

Geopolitical Economy Report editor Ben Norton interviewed economist Michael Hudson to discuss the serious problems on Wall Street. Hudson warned that the US economy is built on a Ponzi scheme that depends on continuing to pour money into a bloated, bubbly financial system based on unsustainable speculation, not industrial production.

VIDEO: https://www.youtube.com/watch?v=Blv49u3Q230

Check out our related short video about the private credit crisis on Wall Street: https://www.youtube.com/watch?v=S1cx9Zk6WZk

Topics
0:00 Introduction
1:37 Highlights of Michael Hudson
3:29 Interview starts
4:18 2008 financial crisis
5:04 Zero interest-rate policy (ZIRP)
7:31 Private equity
9:17 Lack of investment
10:34 Wealth inequality
12:08 Debt defaults
14:10 Depression fears
16:12 US govt supports Wall Street
19:07 Ponzi schemes
23:51 US economic problems
27:35 Iran war impact
30:16 Financialization of economy
33:46 Outro

The peace talks held between the US and Iran in Islamabad, Pakistan failed. Despite a temporary, two-week ceasefire Donald Trump announced a naval blockade of the Iranian blockade of the Strait of Hormuz. Ben Norton explains the USA's strategy, and how it is targeting China and Asian economies that import oil, natural gas, and other important commodities from the Persian Gulf.

VIDEO: https://www.youtube.com/watch?v=qDH5qMZSPm4

Topics
0:00 Peace talks in Pakistan fail
1:07 Trump blockades the blockade
2:53 Iran trolls the US
3:45 Trump's contradictory posts
6:12 Ceasefire
6:51 Israeli attack on Lebanon
8:17 Trump threatens Iran
9:45 Trump targets Cuba
10:38 Strait of Hormuz
11:41 Iran toll challenges petrodollar
13:12 Logic behind US blockade
14:01 Scott Bessent threatens China
15:31 USA targets China's oil supply
16:29 China condemns US blockade
17:06 Dangers of escalation
18:38 Chinese tankers
20:37 China's oil reserves
21:11 China's supply chain shocks
22:59 Trump wants leverage
24:09 The US is losing the war
26:25 Iran's message to Trump
27:45 Outro

The US government has pushed for years for a war with China, selling billions of dollars of weapons to separatists in Taiwan. However, those plans are falling apart, after the leader of the KMT, the Nationalist Party based in Taipei, took a historic trip to the mainland, promoting peace. Ben Norton explains the importance of Cheng Li-wun's meeting with Xi Jinping, and the complex political history of Taiwan.

VIDEO: https://www.youtube.com/watch?v=fiDtfdBYHBQ

Topics
0:00 KMT leader visits Beijing
1:28 US "prickly porcupine" strategy
2:09 KMT, Chinese Nationalist Party
2:48 Taiwan's ruling party DPP
3:27 Nancy Pelosi visit
4:17 Taiwan's DPP supports Israel
4:42 Fears of new Ukraine
5:22 US war plans
6:22 US arms sales to Taiwan
7:09 USA uses Taiwan as proxy
8:12 (CLIP) KMT leader on Ukraine
9:08 Is Taiwan the next Ukraine?
9:28 Elections results in 2024
10:12 Lai Ching-te is unpopular
10:54 Iran war hurts Taiwan
11:48 Energy crisis
12:27 TSMC and advanced chips
13:45 Neoliberalism
14:10 Developmental state
14:54 Economic insecurity
15:14 Trump tariff threats
15:48 Beijing does not want war
17:12 Beijing opposes separatism
18:06 UN: Taiwan is part of China
18:50 One China policy
19:46 Map of Taiwan recognition
20:05 List of Taiwan recognition
20:45 Cross-strait relations
22:19 Rising trade
23:13 One country, two systems
24:31 US military bases
24:58 Peaceful reunification
25:27 Poll: Taiwan independence
26:09 Future leader of Taiwan?
26:48 Divisions within KMT
27:27 Modern history of Taiwan
29:05 Chiang Kai-shek
29:41 Democracy?
30:46 Cold War One propaganda
31:39 Sun Yat-sen
34:40 Historic step for peace
36:14 Outro

The United States and Iran agreed to a temporary, two-week ceasefire. However, Tehran said Washington immediately violated it, by allowing Israel to bomb Lebanon. Ben Norton explains how the USA has repeatedly lied about its diplomacy, and how Donald Trump's "art of the deal" is based on deception.

VIDEO: https://www.youtube.com/watch?v=gdidAa3CsU0

Check out our related video "Iran is winning the war. This is why": https://www.youtube.com/watch?v=zV26rb-9YsE

Topics
0:00 Iran war ceasefire
0:52 US ceasefire violations
2:40 Israel attacks Lebanon
3:25 Energy crisis and inflation
4:50 Both sides claim victory
5:32 Iran says USA violated deal
6:23 Trump's "art of the deal"
7:17 Israel bombs Lebanon
8:09 Strait of Hormuz
9:22 Russia and China UN veto
10:27 Peace talks in Pakistan
10:54 US military will stay
11:11 Trump threatens "civilization"
11:54 US empire violates treaties
14:28 Trump's 15-point plan
16:10 Iran's 10-point proposal
17:55 Someone is lying
19:04 USA underestimates Iran
20:00 Iran establishes new order
21:19 US imperialism continues
23:01 Outro

Is the United States on the verge of another financial crisis? Some top Wall Street executives fear the bankruptcies in the $3 trillion private credit industry could spread, as firms prevent investors from withdrawing their capital, in what resembles a bank run. Then there are problems with the AI bubble and Big Tech stock market bloat. Ben Norton explains.

VIDEO: https://www.youtube.com/watch?v=S1cx9Zk6WZk

Check out our other video explaining how the Iran war will transform the global economy: https://www.youtube.com/watch?v=kocFwbTbs1Q

Topics
0:00 New financial crisis coming?
0:36 Private credit industry
1:27 Cockroaches in private credit
2:18 Bank run similarities
3:32 Bank exposure
5:13 (CLIP) ex Goldman Sachs CEO
6:06 Trump admin scheme
7:55 Blackstone CEO funded Trump
8:48 AI and software companies
9:13 AI bubble
9:42 Big Tech Magnificent 7 (Mag 7)
10:13 US stock market bubble
10:40 AI drives US GDP growth
11:11 Most Americans in recession
11:43 Richest 10% consume 50%
11:57 Iran war, energy crisis, food
13:17 Outro