This interview with @RaniaKhalek is excellent: @EHSANI221 explains how Western imperialism will prop up entire economies like Lebanon's, which was built on a huge bubble that was basically just a Ponzi scheme, in order to advance its geopolitical interests player.fm/series/unautho…
The financial implosion in Lebanon shows how economics is mostly politics and only a small part science.
Lebanon's economy was built on a huge Ponzi scheme kept afloat by periodic infusions of capital by Western states and Gulf monarchies, in order to keep Hezbollah out of gov't
Lebanon's economy was built on a huge Ponzi scheme kept afloat by periodic infusions of capital by Western states and Gulf monarchies, in order to keep Hezbollah out of gov't
Lebanon shows how neoliberal economics is predicated on imperialism.
Its private banks were giving loans to the central bank (in dollars!), and Western financial institutions praised the con artist who oversaw the scam as brilliant, because he served their geopolitical interests
Its private banks were giving loans to the central bank (in dollars!), and Western financial institutions praised the con artist who oversaw the scam as brilliant, because he served their geopolitical interests
Lebanon's economy ran on this neoliberal scam for decades, but didn't implode before because Western states/Gulf monarchies bailed it out.
What changed? Hezbollah entered govt. So now those foreign countries refuse to prop up the Ponzi scheme economy unless the resistance leaves
What changed? Hezbollah entered govt. So now those foreign countries refuse to prop up the Ponzi scheme economy unless the resistance leaves
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