From: video61atarisales@gmail.com   
      
   the number one driver of inflation world wide is free trade. our trade deficit   
   has gotten so huge, its creating wave after wave of inflation do to the   
   dollars loss in value.   
      
   the free traders were warned before summer, more free trade inflation on its   
   way, oil hit almost $82.00 a barrel today, a stunning rise in such a short   
   period.   
      
   its simply a stunning number: 20% of all carbon emissions world wide has been   
   traced to free trade   
      
   “If you look at just the shipping involved in international trade, it’s   
   something of the order of 20%, I think, of our carbon production comes out of   
   the entire mechanics of shipping goods around the planet. And we realize   
   we’ve massively overshot    
   the capacity of the biosphere to support our industrial sedentary   
   civilization. So, one way to reduce that is by reducing international trade.”   
      
   “That’s the problem with having more imports than exports. And once you   
   begin to borrow dollars, you have to pay interest on it. And all of a sudden,   
   they’re running a deficit, it’s going to reduce your foreign exchange   
   rates. Well, let’s look    
   at what’s going to happen this summer as an example. We know that energy   
   prices, oil prices are going way up.   
      
   Well, at the same time, there’s an enormous deficit of debt service that   
   they owe to finance all of the trade deficits that they’ve been running ever   
   since they followed neoliberal ideals to open their markets to depend on   
   foreign food and basically    
   US manufacturers. The Federal Reserve has just begun to raise interest rates.   
      
   Well, we’re getting something for nothing. If you import more than you   
   export, you’re running up foreign debt, and you’re becoming more and more   
   dependent on foreign countries who are acting in their own interests, not your   
   own interests. So you    
   have to put this whole discussion in the political context.’   
      
   https://realprogressives.org/podcast_episode/episode-180-the-end   
   of-dollar-diplomacy-with-steve-keen-and-michael-hudson/   
      
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