As Michael Hudson, a research professor of Economics at University of Missouri, Kansas City, wrote in early February, before Russia’s intervention in Ukraine:

America no longer has the monetary power and seemingly chronic trade and balance-of-payments surplus that enabled it to draw up the world’s trade and investment rules in 1944-45.

The threat to U.S. dominance is that China, Russia and Mackinder’s Eurasian World Island heartland are offering better trade and investment opportunities than are available from the United States

The most glaring example is the U.S. drive to block Germany from authorizing the Nord Stream 2 pipeline to obtain Russian gas for the coming cold weather. Angela Merkel agreed with Donald Trump to spend $1 billion building a new LNG port to become more dependent on highly priced U.S. LNG. (The plan was cancelled after the U.S. and German elections changed both leaders.)

The post How Europe Was Pushed Towards Economic Suicide appeared first on PopularResistance.Org.

This post was originally published on PopularResistance.Org.