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    The Critical Hour

    Financial Collapse Looms; US Slaps Tariffs on Chinese Agency; Racism & Politics

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    Wilmer Leon
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    On this episode of The Critical Hour, Dr. Wilmer Leon is joined by Dr. Jack Rasmus, professor of economics at Saint Mary's College of California and author of Central Bankers at the End of Their Ropes: Monetary Policy and the Coming Depression, who also writes at jackrasmus.com.

    This past weekend, September 15-16, marked the 10th anniversary of the Lehman Brothers investment bank collapse and the subsequent generalized financial system crash that followed. Can this happen again? To answer this question and others, my first guest, Dr. Jack Rasmus, is the author of the recently published book, Central Bankers at the End of Their Ropes: Monetary Policy and the Coming Depression, and he joins us to discuss his article, "On the 10th Anniversary of Lehman Brothers 2008: Can эIT' Happen Again?"

    Today the United States imposed sanctions on a Chinese military agency and its director for buying defense equipment from Russia in breach of a sweeping US sanctions bill enacted in 2017. The US State Department said it would immediately impose sanctions on China's Equipment Development Department, which oversees defense technology, and its director, Li Shangfu, for engaging in "significant transactions" with Rosoboronexport, Russia's main arms exporter. The measures come as President Donald Trump's administration pursues a variety of strategies to clamp down on China and faces growing pressure to respond strongly to US intelligence agency reports that Russia is continuing to meddle in US politics. Why was this done, and what does it mean going forward? Why has the Trump administration decided to take this unprecedented action?

    As we continue to navigate the turbulent waters of the Trumpian era, there are two issues that struck me today. First, a Republican activist who donated more than $20,000 to Ron DeSantis's gubernatorial campaign club called former President Barack Obama a "F****** MUSLIM N*****" on Twitter recently, in addition to other inflammatory remarks. Second, a ProPublica analysis found that African Americans and Native Americans are under-represented in clinical trials of new drugs, even when the treatment is aimed at a type of cancer that disproportionately affects them. These two stories are just today's examples of the systemic nature of racism/white supremacy, as Dr. Welsing would say, in America. A number of analysts want to deal with Trump as though he's an anomaly or exists in some type of vacuum. I believe that he is and demonstrates what America is and has always been.


    Dr. Jack Rasmus — Professor of economics at Saint Mary's College of California, author of Central Bankers at the End of Their Ropes: Monetary Policy and the Coming Depression and writer at jackrasmus.com.

    Ivan Eland — Senior fellow at the Independent Institute and director of the Independent Institute's Center on Peace & Liberty.

    Dr. Crystal Fleming — Associate professor of sociology and Africana studies at Stony Brook University and author of How to Be Less Stupid About Race: On Racism, White Supremacy, and the Racial Divide.

    We'd love to get your feedback at radio@sputniknews.com

    trade policy, tariffs, Trump administration, China, Russia
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