Show Notes
Today's show takes up the topic of the American Empire in decline. It's the first summary preview of my forthcoming book, available in early September, "The Twilight of American Imperialism", Clarity Press, 2026. What does it mean to say 'decline'? What are the indicators? They're not just geopolitical—i.e. rise of BRICS, lost US wars, disputes with allies, fracturing military alliances, etc. All empires run on money and the American is running out of enough to fund the accelerating costs of empire. It is now experiencing an accelerating financial crisis as costs of Empire accelerate faster than revenues to fund it. As a result, the empire's Practices have begun to fail and its Institutions under-perform. The book covers the period 1992 through 2026, focusing in large part on Trump 2025-26 and policies now accelerating the decline. Today's show concludes by revisiting the crisis in the US Treasury market—the main means for debt financing of the Empire--emerging in recent weeks and explains how it is related to the main theme of the book.
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Today's show discusses this week's Fed rate hike and why it won't have any effect on inflation. Why monetary policy no longer affects the economy—either inflation reduction or economic growth stimulation—due to long term financialization, globalization and now Trump policies as well. Why the US Treasury market is approaching crisis and needs higher interest rates by the Fed. Why sales of Treasuries to fund the US budget deficit may not occur. Result is deeper US economic crisis and inability to finance rising deficit spending. The show also explains how and why AI is out of control and can't be regulated.
What is the state of the US working class in terms of jobs, wages, etc. as of Labor Day 2026? The picture per latest US jobs report for August 2026. Wages. What's the emerging impact of AI on the American Working Class? Not just in terms of job loss but in conditions of work. What is 'Agentic AI" now doing to the work force? Show continues with Treasury Secretary Scott Bessent's last week interventions in the global currency and US bond markets, the chaos results in the recent G20 finance ministers meeting and latest claim the US will 'grow' out of its current $40 trillion debt crisis. What's the actual record of US GDP growth long term?
US Treasury Bonds Dumping Worldwide: Latest Financial Market Instability Event?
What's behind Japan and the US Treasury intervening to buy Yen? Will Japan join China in dumping US Treasury bonds? Who'll make up the loss this time? What it means for the US deficit and Fed interest rates. The AI bubble: more evidence of fragility as competition intensifies internally and from China. How China's openAI and Deepseek AI model is destabilizing the AI market. Show concludes with latest on Iran and Ukraine wars: why Trump TACO-ed again and Iran's deal with Oman to open the strait of Hormuz on its terms. Why the US can't even get a proxy war going in the region. Finally, what are the facts behind the western media propaganda campaign that Russia's losing the war in Ukraine.