Inequality & politics: Links 11/24/2021

Michael Hudson on Truth Jihad Radio Discussing Super Imperialism, Rentierism and the American Political Duopoly.

Michael Hudson explains how the fact that the world economy operates in dollars gives the U.S. government the powers to assume debt that will not be repaid, to finance the world’s most expensive military, and to wage economic war on countries that oppose it, and why this cannot go on forever.

The  1% of Americans Have Taken $50 Trillion From the Bottom 90%—And That’s Made America Less Secure by Nick Hanauer and David M. Rolf for Time.

Can Hagerstown Kick Its Habit? by Ron Cassie and Lauren Larocca for Baltimore magazine.

I grew up around Hagerstown, Md., and spent the first 16 years of my working life there.  It was a nice place then, but it has been devastated by deindustrialization and the drug epidemic. (Hat tip to Bill Harvey)

Big Business Declares War on Lina Khan by Matt Stoller for BIG.

Lina Khan has been confirmed by the Senate as one of the two main anti-trust enforcers for the Federal Trade Commission, and it appears she means business.  The U.S. Chamber of Commerce has declared political war on her.  She has many opponents, including some in the FTC.  

But it appears she has support from some conservative Republicans as some liberal Democrats.  Not all of the U.S. business community feels its interests are served by the monopoly power of Amazon, Facebook and other giants.  It will be interesting to see how this plays out.

Too Big to Sail: How a Legal Revolution Clogged Our Ports by Matt Stoller for BIG.

Matt Stoller specializes in reporting on business monopoly and its consequences.  In this post, he reports on how economic concentration among ocean carriers and port terminal ownership has led to bottlenecks in the U.S. economic supply chains.

I’m a Twenty-Year Truck Driver, I Will Tell You Why America’s “Shipping Crisis” Will Not End by Ron Johnson.

The Big Money Behind the Big Lie by Jane Mayer for The New Yorker.

“Donald Trump’s attacks on democracy are being promoted by rich and powerful conservative groups that are determined to win at all costs.”

Only the Rich Can Play documents how a Republican program to help the poor didn’t by Albert Hunt for The Hill.

Democrats are pushing for tax breaks for the rich | They’ll cry when voters punish them by David Sirota for The Guardian.  (Hat tip to O)

The Vacancy and Cynicism at the Heart of “Mayor Pete” by Piper French for The Daily Poster.  (Hat tip to Steve from Texas)

Facebook’s Russian (Gangster) Money by Seth Hettena on his blog.  (Hat tip to O)

How Hunter Biden’s Firm Helped Secure Cobalt for the Chinese by Michael Forsythe, Eric Lipton and Dianne Searcy for The New York Times.  (Hat tip to O)

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