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OpEdNews Op Eds    H3'ed 7/1/09

Michael Hudson's "Super Imperialism:" The Economic Strategy of Imperial America

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Michael Hudson's "Super Imperialism: The Economic Strategy of Imperial America" - by Stephen Lendman


First written in 1972, it was updated in a 2003 edition that's every bit as relevant now - thus this review focusing on Hudson's new preface, introduction, and detailed account of the book's theme.


He revisited it in his 2008-09 Project Censored award- winning article titled: "Economic Meltdown - The 'Dollar Glut' is What Finances America's Global Military Build-up" in which he explains the following - the "inter-related dynamics" of:


-- "surplus (US) dollars pouring into the rest of the world for yet further financial speculation and corporate takeovers;"


-- global central banks "recyl(ing) these dollar inflows (into) US Treasury bonds to finance the federal US budget deficit; and most important (but most suppressed in the US media),"


-- "the military character of the US payments deficit and the domestic federal budget deficit."


In other words, the global "dollar glut" finances US corporate takeovers, speculative excesses creating bubbles and global economic crises, America's reckless spending, foreign wars, hundreds of bases worldwide, "military build-up," and culture of militarism and belligerence overall at the expense of democratic freedoms, beneficial social change, and human and civil rights.


In softer form, it's what former US diplomat, advisor, father of Soviet containment, and dove compared to others at that time George Kennan believed should be America's post-WW II foreign policy. In his February 1948 "Memo PPS23, he stated:


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[My newest book as editor and contributor is titled "Flashpoint in Ukraine: How the US Drive for Hegemony Risks WW III." www.claritypress.com/LendmanIII.html]

Stephen Lendman was born in 1934 in Boston, MA. In 1956, he received a (more...)
 

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