This week Eric welcomes to the show Marxist economist and blogger Michael Roberts to discuss the latest global economic issues. The conversation begins with the interesting moves by the US Federal Reserve in late September and what they might mean for the US domestic, and ultimately global, economic outlook. From there the conversation shifts to macroeconomic trends and how Trump’s trade war with China might impact the depressed global situation, including laying the groundwork for a technology and supply chain war. The second half of the show focuses on the oil price and global oil markets, and how they are impacting the geopolitics and economic interests of the world’s power blocs. Finally, Eric and Michael discuss financialization and the rentier economy, and explore whether these are sufficient to explaining the current economic crisis.
Music: Lee Scratch Perry & Errol Walker – “In These Times”