From Yanis Varoufakis in Defend Democracy Press
“...the irony is that the world the Western liberal establishment is grieving over today came into being as a result of the Nixon Shock. While admonishing the idea of a US President delivering a rude shock to the world economy, they are lamenting the passing of what only came into being because of another President’s readiness to deliver an even ruder shock. That is, the Nixon Shock gave birth to the darlings of today’s liberal establishment: neoliberalism financialisation and globalisation … Many refer to this world — the one in which Gen X grew up — as the neoliberal era; others associate it with globalisation; some identify it with financialisation. It’s all the same thing — the world the Nixon Shock begat, and which the 2008 financial crash shook to its foundations. After the 2009 bailouts, although US hegemony continued unabated, it lost much of its dynamism. Today the Nixon Shock has run out of steam — at least from the perspective of the Trumpists who want to give US hegemony a second (or is it a third?) wind. This is the whole point of the Trump Shock and its masterplan … Nevertheless, that globalisation recedes does not mean that autarky is possible. The Trump Shock is pushing us into a Bisected Planet, one part of it comprising vassal countries that have yielded to the Trump Plan; and a second part where the BRICS experiment is allowed to take its course.”
/ Dove
npub15z…vms8r
2025-04-08 17:55:17
Author Public Key
npub15z9m86as6p8rad2fvd2sx7gs4stp0p0xz5dsdtus57wxmflcj69szvms8rPublished at
2025-04-08 17:55:17Event JSON
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"content": "From Yanis Varoufakis in Defend Democracy Press\n\n“...the irony is that the world the Western liberal establishment is grieving over today came into being as a result of the Nixon Shock. While admonishing the idea of a US President delivering a rude shock to the world economy, they are lamenting the passing of what only came into being because of another President’s readiness to deliver an even ruder shock. That is, the Nixon Shock gave birth to the darlings of today’s liberal establishment: neoliberalism financialisation and globalisation … Many refer to this world — the one in which Gen X grew up — as the neoliberal era; others associate it with globalisation; some identify it with financialisation. It’s all the same thing — the world the Nixon Shock begat, and which the 2008 financial crash shook to its foundations. After the 2009 bailouts, although US hegemony continued unabated, it lost much of its dynamism. Today the Nixon Shock has run out of steam — at least from the perspective of the Trumpists who want to give US hegemony a second (or is it a third?) wind. This is the whole point of the Trump Shock and its masterplan … Nevertheless, that globalisation recedes does not mean that autarky is possible. The Trump Shock is pushing us into a Bisected Planet, one part of it comprising vassal countries that have yielded to the Trump Plan; and a second part where the BRICS experiment is allowed to take its course.” ",
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