From Zenith to Decline

In mid-September 2026, the Federal Reserve Open Market Committee held one of its meetings, which take place about every six weeks. This was not, however, an ordinary meeting. The week before was a rough one for U.S. imperialism in West Asia. Militias based in Iraq attacked the oil pipeline that runs east to west across the Arabian Peninsula ruled by the Saudi Arabian oil monarchy. Saudi Arabia, named after its ruling family, is the largest of the oil monarchies. To maintain the flow toward the Mediterranean and the world market, the oil must be pumped by stations located along the pipeline. In September, Iraqi militias using drones destroyed these pumping stations, halting the flow. It will take several months to rebuild them, and there’s a possibility they’ll be attacked again.

At the same time, Yemen’s government, pushing back U.S. puppets, established control of the Bab el-Mandeb strait, which controls passage into and out of the Red Sea. At this time, Yemen is the only Arab country openly at war with U.S. domination. It is allied with Iran and is thus considered part of the Axis of Resistance. As the Trump administration, through military force, tries to erode Iran’s control of the Persian Gulf, U.S. imperialism’s ability to control the flow of oil across the Arabian desert and the Red Sea is being cut off. To meet the new threats, the U.S. will have to deploy increased military forces to Yemen, Saudi Arabia, and the Red Sea. The war on Iran is increasingly turning into the West Asian war, or we could call it the U.S.-Israeli-West Asian war. Beyond lurks East Asia, whose largest country is the People’s Republic of China, the world’s leading industrial country — a title formerly held by the United States of America, but no more.

From Caracas to Minneapolis

The Donald Trump administration celebrated the birthday of what those in the Christian faith call the Prince of Peace, Jesus Christ, on December 25 by bombing two African countries, Nigeria and Somalia. That Christmas day horror was only the beginning of its crimes as 2025 ended. As 2026 began, on January 3, the U.S. bombed Caracas, the first time in history a South American country was subjected to air bombardment, and kidnapped Venezuelan president, Nicholas Maduro, and his wife Cilia Adela Flores. In a world of nation-states, the government of one country has no right to seize the citizens (let alone the head of state) of any other nation-state.

On January 7 in Minneapolis, an ICE agent shot and killed 37-year-old Renee Nicole Good, a native-born U.S. citizen who was a poet, a Christian, white, and a mother of three now-orphaned children. While the administration attempted to frame Ms. Good as a “domestic terrorist” who was attempting to run over the agent, Jonathan Ross, bystander videos show she was actually trying to avoid him while he circled her car with a cell phone in one hand and his service weapon in the other.

This horror followed weeks of a coordinated racist drive against the Somali community, which serves as a textbook example of economic scapegoating. Reactionary demagogues first claimed Somali immigrants had been capturing and eating domestic pets; more recently, they have weaponized allegations of “daycare fraud” to charge that Somali businesspeople are funneling federal dollars to international terrorist groups. By criminalizing the Somali community’s economic activity, the federal government has created the pretext for a permanent federal occupation of the city.

More than 2,000 ICE agents have flooded Minneapolis, and Trump wants to send more. This massive deployment represents a domestic application of the “Department of War” philosophy, turning a major U.S. city into a garrisoned territory.

The Historical Limits of Capital: From Stagflation to Artificial Intelligence

Recent media speculation has focused on whether 79-year-old President Donald Trump is experiencing cognitive decline, echoing similar coverage of his predecessor, Joseph Biden.

They’re the oldest men to have held the office. As people age, they become more vulnerable to the group of brain changes we call dementia. I’m not qualified to assess anyone’s health; what matters here is what these stories signal politically — confusion, factionalism, and instability at the top of the state.

At times, it seems that Trump has no coherent foreign policy. There are stories he’s pressuring Euromaidan Ukraine to settle the war with Russia on Russian terms. Then it seems that settlement talks go nowhere.

Gold, Overproduction, and the Emerging Monetary Crisis

On November 8, Senate Democrats made a deal with Republicans to end the government shutdown. The deal was attacked by many podcasters allied with the Democratic Party’s progressive wing.

Led by President Trump, Republicans threatened to cut or end funding for the SNAP (food stamps) program. In 2024, some 41 million people depended on the program.

In the face of court orders, they backed down, but the Supreme Court allowed them to go ahead with the cutoff. Hours before eight Democrats caved to Republican demands and announced they’d vote to end the government shutdown on Republican-Trump terms.

Artificial Intelligence

On August 15, 2025, U.S. President Donald Trump met with Russian President Vladimir Putin in Alaska. Alaska was once a Russian colony that was purchased by the U.S. in 1867 and became a state in 1959.

The anti-imperialist YouTuber Brian Berletic expressed concern that the Trump administration might attempt to kidnap Putin. This did not seem so far-fetched in light of the Israeli-U.S. attack on Iran aimed at decapitating Iran’s political and military leadership. This occurred as they were supposed to engage in negotiations to normalize relations. Unlike Iran, Russia has nuclear weapons and the ability to deliver them to the U.S. mainland, making any kidnap attempt unlikely, and Putin returned home safely.

Trump has refused to walk away from the Russo-Ukrainian war, and there were no breakthroughs in ending it. The war started with the 2014 U.S.-organized right-wing coup to overthrow the popularly elected Ukrainian government of Viktor Yanukovych. Coup leaders, called the Euromaidan movement, were supported by a coalition of pro-U.S. imperialist liberals and Ukrainian fascists who provided the muscle power.