Or perhaps the end of the beginning, if you’re a little more pessimistic.
Image is from this Bloomberg article, from which I also gathered some of the information used in the preamble.
While Trump was off in the Middle East in an incompetent attempt to solve a geopolitical and humanitarian crisis, China has been doing something much more productive.
Chinese officials, including Xi Jinping, had a summit with CELAC (a community of 33 Latin American and Caribbean countries). There, he promised investment, various declarations of friendship, and visa-free entry for 30 days for citizens of Brazil, Argentina, Chile, Peru and Uruguay. Lula signed over 30 agreements with China. Colombia is joining the New Development Bank and hopes to gain the money for a 120-kilometer railway connecting the Atlantic and Pacific coasts as an alternative route to the Panama Canal. Even Argentina, ruled by arch-libertarian and arch-dipshit (but I repeat myself) Milei, was uncharacteristically polite with China as he secured a currency swap renewal to shore up their international reserves.
It wouldn’t really be correct to say that Latin America is “siding with China over the US” - leaders in the region will continue to make many deals with America for the foreseeable future, and even Trump’s bizarre economic strongman routine won’t make them break off economic and diplomatic relations. What’s significant here is that despite increasing American pressure for those leaders to break off all ties with China, few appear to be listening - and given that China is perhaps the most important economy on the planet right now, that is a very predictable outcome.
As the current American empire takes actions to try and avoid their doom, those very actions only guarantee it. As Latin America grows ever more interconnected with China and continues to develop, America will grow ever more panicked and demanding, and this feedback loop will - eventually - result in the death of the Monroe Doctrine.
Last week’s thread is here. The Imperialism Reading Group is here.
Please check out the RedAtlas!
The bulletins site is here. Currently not used.
The RSS feed is here. Also currently not used.
Israel-Palestine Conflict
Sources on the fighting in Palestine against Israel. In general, CW for footage of battles, explosions, dead people, and so on:
UNRWA reports on Israel’s destruction and siege of Gaza and the West Bank.
English-language Palestinian Marxist-Leninist twitter account. Alt here.
English-language twitter account that collates news.
Arab-language twitter account with videos and images of fighting.
English-language (with some Arab retweets) Twitter account based in Lebanon. - Telegram is @IbnRiad.
English-language Palestinian Twitter account which reports on news from the Resistance Axis. - Telegram is @EyesOnSouth.
English-language Twitter account in the same group as the previous two. - Telegram here.
English-language PalestineResist telegram channel.
More telegram channels here for those interested.
Russia-Ukraine Conflict
Examples of Ukrainian Nazis and fascists
Examples of racism/euro-centrism during the Russia-Ukraine conflict
Sources:
Defense Politics Asia’s youtube channel and their map. Their youtube channel has substantially diminished in quality but the map is still useful.
Moon of Alabama, which tends to have interesting analysis. Avoid the comment section.
Understanding War and the Saker: reactionary sources that have occasional insights on the war.
Alexander Mercouris, who does daily videos on the conflict. While he is a reactionary and surrounds himself with likeminded people, his daily update videos are relatively brainworm-free and good if you don’t want to follow Russian telegram channels to get news. He also co-hosts The Duran, which is more explicitly conservative, racist, sexist, transphobic, anti-communist, etc when guests are invited on, but is just about tolerable when it’s just the two of them if you want a little more analysis.
Simplicius, who publishes on Substack. Like others, his political analysis should be soundly ignored, but his knowledge of weaponry and military strategy is generally quite good.
On the ground: Patrick Lancaster, an independent and very good journalist reporting in the warzone on the separatists’ side.
Unedited videos of Russian/Ukrainian press conferences and speeches.
Pro-Russian Telegram Channels:
Again, CW for anti-LGBT and racist, sexist, etc speech, as well as combat footage.
https://t.me/aleksandr_skif ~ DPR’s former Defense Minister and Colonel in the DPR’s forces. Russian language.
https://t.me/Slavyangrad ~ A few different pro-Russian people gather frequent content for this channel (~100 posts per day), some socialist, but all socially reactionary. If you can only tolerate using one Russian telegram channel, I would recommend this one.
https://t.me/s/levigodman ~ Does daily update posts.
https://t.me/patricklancasternewstoday ~ Patrick Lancaster’s telegram channel.
https://t.me/gonzowarr ~ A big Russian commentator.
https://t.me/rybar ~ One of, if not the, biggest Russian telegram channels focussing on the war out there. Actually quite balanced, maybe even pessimistic about Russia. Produces interesting and useful maps.
https://t.me/epoddubny ~ Russian language.
https://t.me/boris_rozhin ~ Russian language.
https://t.me/mod_russia_en ~ Russian Ministry of Defense. Does daily, if rather bland updates on the number of Ukrainians killed, etc. The figures appear to be approximately accurate; if you want, reduce all numbers by 25% as a ‘propaganda tax’, if you don’t believe them. Does not cover everything, for obvious reasons, and virtually never details Russian losses.
https://t.me/UkraineHumanRightsAbuses ~ Pro-Russian, documents abuses that Ukraine commits.
Pro-Ukraine Telegram Channels:
Almost every Western media outlet.
https://discord.gg/projectowl ~ Pro-Ukrainian OSINT Discord.
https://t.me/ice_inii ~ Alleged Ukrainian account with a rather cynical take on the entire thing.
MMT is simply a description of how money and the banking system works. It doesn’t matter what the leaders and economists believe though, the central bank will behave as described in their operating protocol and the politicians and economists cannot change that.
As an analogy, I don’t understand how exactly does a computer work - but every time I type the key “a” on my keyboard, the character “a” will show up on the screen. I cannot change that, no matter what my beliefs are, unless I invent a new type of computer that operates with a different set of logic.
The mainstream economists don’t understand how the system works, that’s why they keep fumbling and get it wrong. No matter how hard they try, the national debt isn’t going to make the US go bankrupt.
The only way the US leaders can reduce the national debt is if the government taxes more than it spends, so either increase taxes, or reduce spending.
And yet despite all the DOGE cuts, and all the freezing of federal funds, total government outlays continue to rise in FY2025. In the first 100 days, Trump’s deficit spending is $200 billion more than the previous year:
Unless Trump rams through significant budget cuts, or if he lowers interest rates where interest income payment can no longer support the strong deficits the government is running, the national debt will continue to go up.
The problem with the US is not that the government isn’t spending enough, it is that the spending isn’t being distributed to the working people who need it the most.
I get it’s an analogy, but you absolutely can change that, rather easily.
Honestly I think it’s a botched version of the classic MMT analogy:
When you type a the a doesn’t come from a big bucket full of as; it just appears into existence
Same with US dollars, when the federal government spends money, it just spends it into existence, they don’t collect it from a big bag of tax dollars
The US government could simply retire debt when it comes due, and not issue new debt. The only effect this would have would likely be asset price inflation, as former bondholders would need somewhere to park their cash. But I personally feel kind of indifferent about that, if that’s the cost of no longer having to make interest payments (and not having to hear liberals complain about the “debt”).
I don’t believe that the US is legally allowed to retire debt ahead of maturity but if they are then the debt could be 100% retired instantly, with the effect being the aforementioned asset price inflation.
MMT shows how governments do not NEED to issue debt, it is a choice made in order to manage interest rates and to give a subsidy to the rich - who at least in the case of US Treasuries, have a functionally risk-free asset that pays better than saving cash in a bank.