The immediate cause of the looming world depression is clear enough. Renowned economist Michael Hudson delves into the repercussions of the Oil War as he continues his series Creating a New International Order.

Between U.S. tariffs and Iranian naval blockades we are seeing the economic version of what the 1960s called Mutually Assured Destruction - or MAD. The second piece in Michael Hudson’s new series Creating a New International Order.

The world is being polarized between attempts to preserve centuries of Western international law and America’s attempt to replace it with a monolithic U.S. autocracy of its own uniquely self-serving ruler-based order. Michael Hudson starts his new series Creating a New International Order.