Friends and neighbors, While this a reasonable analysis, all things considered, it is lacking in some important useful vocabulary. The immediate example I can give is that it doesn't it does not even have a concept of a renewing economic process that from the exterior would probably be defined as a "stagnation," though the assumptions and economic model are fairly locked into the neo-classical economic model.

Readers, This article is particularly in high contrast to the movie/story of the US invasion of the Philippines in 1899 about to be released to the public which is entitled "Amigo." From the presumption of influence by threat of direct military imperial occupation, to when the invaders have bankrupted themselves into withdrawal, enter the Dragon to do business and invest the surplus US dollars that China has held in its foreign exchange funds.

Michael Hudson, interviewed on Guns N Butter with Bonnie Faulkner

“When I was in Norway one of the Norwegian politicians sat next to me at a dinner and said, “You know, there’s one good thing that President Obama has done that we never anticipated in Europe. He’s shown the Europeans that we can never depend upon America again. There’s no president, no matter how good he sounds, no matter what he promises,

Friends and neighbors PLEASE, note very carefully the distinction between the flourishes from the facts. I believe that China's economic structure Additionally is very close to a post Keynesian/modern monetary model. To much specific it very much seems to be an interpretation of p-K/MMT economic model. It also seems that in many ways it also reflects a particular interpretation of Chinese economic history prior to the invasion by European Empires and then the US as reported only briefly briefly in conventional western histories. as the "Opium Wars.

Differences between Democrats and Republicans on the deficit are cosmetic. Both are committed to a broken, corrupt system

President Obama's basic budget for fiscal 2012 is mostly a done deal, supported by the entire political establishment. The hyped choreography of forthcoming battles between Democrats and Republicans is a very secondary sideshow. The battles clothe basic agreement in a disguise of fierce oppositions – perhaps aimed to mollify each party's none-too-discerning militants.

Readers, this is an interesting article to the degree that the Soviet model of state socialism is being revised toward other visions of socialism. the nature of management will move from a bureacratic model to more of an entrepreneurial version. The part to be perfomed by the state in the plannning process is not well defined in this article, so I will look further. It seems like a variation of a post Keynesian capitalism, but the description is lacking certain important details. The definition of "socialism" morphs from a socialism of state control to a socialism of planning.

Readers, This article contains a rare insight into the nature of unions in particularly the US, as largely an instrument of US imperialism.

America's corporate chieftains must love poor people, for they're doing all they can to create millions more of them.

They're knocking down wages, offshoring everything from manufacturing jobs to high tech, reducing full-time work to part-time, downsizing our workplaces, busting unions, cutting health care coverage and canceling pensions -- while also lobbying in Washington to privatize Social Security, eliminate job safety protections, restrict unemployment benefits, kill job-creating programs and increase corporate control of our elections.

If there's one thing everyone knows these days, whether they're happy about it or not, it's that we live in a "global" economy. This fact is taken as so obvious that anyone who disputes it is regarded as not so much wrong as simply ignorant -- not even worth arguing with. So it may come as a shock to many that, in reality, the cliche that we live in a borderless global economy does not survive serious examination. The key is to ignore the Thomas Friedmanesque rhetoric the media is flooded with and get down to some hard numbers.