I've read some of Hudson and watched a number of his video interviews. I'd agree that his points about debt peonage go nicely with the view that the overall trend here is towards plutocracy (as I've also written), which is consistent with the analyses of Nomi Prins. If widening economic inequality is the name of the game, then many of the squabbles between US conservatives and liberals are indeed sideshows. The culture war is largely a distraction and a way to deflect populist rage, as Chris hedges says.
But conservatism is consistent with plutocracy and the grotesque inequality, whereas the humanistic, progressive, socialistic aspect of liberalism isn't. So the culture war doesn't seem wholly irrelevant to the emerging economic reality.