Follow the Money sounds like an amazing book. I've heard many of these interviews over the years on KPFA but to have them all in one place in a book is a dream come true.
I watched this video last night and a good night’s sleep has really helped in understanding the relevance of your message and the message of your guest. Janet Yellon has good reason to be sounding the alarm; 10 years of the West dumping trillions of dollars of free funny money into the system, an isolationist US using the World’s Reserve currency as a weapon and a narrative being pushed to a population that doesn’t have $400.00 for an emergency that happy days are here again so go out and spend this holiday season is cause for alarm. This doesn’t include the Black Swans that could take us out before 2019 even gets here. Yellon sounding the alarm now seems to be standard practice for those who could have made a difference in the outcome of this crisis when they were helping create and sustain this crisis. I’ve been trying to follow the money like your guest recommended to get a clear understanding of the history of this crisis we’re presently in. A video series titled “The hidden Secrets of Money” has helped connect the dots on a lot of the over determining factors in this current crisis. The videos have a Libertarian slant but once you remove the bias there is a lot of money/currency historical data. The videos are good at manipulating the role of greed, fraud and deception in Western political/ economic history. This manipulation helps to support their narrative but the videos do accurately state most of economic/currency history. The biased narrative is one of polarity “Collectivism vs. Individualism” the videos portray both as part of a pendulum that swings due to crisis. There is never dialectic; a synthesis so the polarity repeats itself in a never ending cycle. The videos use false equivalency to justify its stance of Individualism. The videos portray Marx’s dialectic critique of Capitalism as Socialism; the videos portray Socialism as Keynesian-ism and Keynesian-ism as Roosevelt’s policies to save Capitalism. When this political/economic structure fails and it is going to happen very soon Marx’s dialectic critique offers us a new economic paradigm. What makes a 19th century Philosopher such a soothsayer; it’s his understanding of Capitalism’s design; his critique understands that Capitalism is an organic dialectic process. A new resilient post-Capitalist world will focus circulation of Capital on saving our species from Climate chaos. Money will become a utility that insures the fluid circulation of Capital. Credit (Money creation) which is anti-value will insure the reproduction of the circulation of the Capital process. Entrepreneur’s can be issued interest bearing debt based upon their venture’s value in assisting in Climate chaos and living labour will assist in value realization. Let’s hope that Hegel has it right and we are just finite moments of an infinite that is in the process of becoming a completely free sovereign Geist. Let’s hope that Marx has it right and Mankind always sets for itself only such tasks as it can solve.
Wonderful interview. Riva's reminds me of my own childhood. My parents never used the word 'socialism', but there were copies of The Catholic Worker lying around, and because we had neither cell phones, nor internet, I actually read them.
@TRUMPS RETARDED INBREEDS Yeah, I hope they seek stuff out, but as a child, I only read it because I was bored and it was right in front of me... Oh, and great woodblock illustrations that caught my eye. Young kids online today might not run across such a thing, but you never know. But yeah, wouldn't that have been amazing?
@TRUMPS RETARDED INBREEDS Yes, today's kids have the ability to search the world. I'm a huge fan of the internet. Nevertheless, young kids today are often in a bubble created by an algorithm; and as a parent, I see that my kids aren't as exposed to my interests, as I was to those of my own parents. Besides the reading material, I'm thinking of how, when I was a kid, we only had one TV; so if my parents were watching something, so did I. I couldn't go to my room and watch vines, or play a computer game, like my own kids could. So if the folks were watching a documentary, or a political debate, so did I. That had a shaping influence. If I sound like I think that was a better thing than what we have today - No. It's just different.
Britain has also given up on their Political System as well, the System is rigged, it always has been, and i am a 80s Kid, so i have the Life Skills as they say, so i can understand why America feels the same, we have things in common!
I think if businesses really could get away with paying women a fraction of what they pay men for the same value, they would employ nothing but women. _That's_ "following the money".
Richard Wolff is one of our best spokesmen . Wolff himself would say its not about me its about us . We have to stop looking for leaders or putting the burden of positive change on the shoulders of men and women like Wolff . We all have our bit to do .
The basic rule is to pump up the debt, grab some money and buy real assets, let the system go broke. Point to the victims as the cause and give them some soup.
KPFA and Flash Points with interviewer Dennis Bernstein is one of the best interview shows I have ever heard . Bernstein is Jewish and very condemning of Israel . Dennis has been disowned by his grandfather and Dennis is willing to forgo a million dollars in his grandfather's will to Dennis Bernstein .
Wonder how much of the legal marijuana market uses roundup. Lovely plant once helped ease and perhaps treat and prevent cancers will now be causing it via roundup😞
Beating children is not acceptable! Abuse should be a crime. However, that is not the same as a smack on the bottom. You cannot reason with a little child who has not reached the age of reason, they have no fear of moving cars, fire, heights & other dangers. Beware of laws that invade the home & infringe upon common sense parenting.
Punishment for punishing is a bit ironic. How about we encourage people to avoid violence as much as possible. Educate in order to mitigate a society that is addicted to violence.
Sandy not to mention teachers spend over 40% of their time disciplining children instead of teaching them! I don’t agree with anyone saying not to spank your children! Abuse is not spanking!! Can’t stand people that parallel the two!!
@@Blackout300 it doesn't work. There's a massive body of evidence that shows that spanking doesn't work and that it is effectively indistinguishable from other forms of violence used on a child.
@@MatthewOstergren Oh yeah where is that massive body of evidence then? Your going to have to tell that to someone who did not grow up avoiding what I had been warned against knowing that if I didn't I would get a spanking as a kid or an outright ass beating as an older kid. You'll also have to find someone that in 8 years has had to strike their daughter more than three or four times, and tell them their child does not respond how you want to being hit. Part of the reason I don't have to hit my children is because they know I will, and your massive body of evidence (that I can't wait to see) will 100% for sure be something that somebody wrote, that in itself giving it zero validity .
Another serious consequences of the lowering of interest rates was to reignite the credit-fueled and speculation-driven upward climb in land prices. Millions of property owners were able to refinance out of high cost sub-prime mortgage loans and lower their monthly debt obligations. At the same time, residential property prices rose in many parts of the nation to the level of 2007 that so stressed the "housing" market that a crash was inevitable. The capacity of people to keep this game going depends on whether household income and household savings have kept pace with the rising cost of living, and of residential property in particular. We seem to have reached the point where another property market correction is upon us. Young adults can neither afford to leave their parents' home or find the savings or income to afford entry level home ownership. What should have been done in 2008 that was not done? Three things are at the top of the list: (1) prohibit any financial institution that accepts government-insured deposits from making loans for the purchase of land or accepting land value as collateral for borrowing; (2) Remove any distinction in tax rate between income earned from wages or salaries and that derived from the sale of land, shares of stock or other assets (thus removing the tax advantage of so-called "capital gains," which recognizes the fact that actual capital goods do not increase in value over time, they depreciate); and (3) Encourage municipal governments (as well as counties, boroughs and townships) and local school districts to move over a fairly short period to a land-only property tax base, which will remove the potential to profit by speculation in land and will encourage owners of land to bring the land held to its highest, best use or sell to someone who will.
Lovely and interesting woman, Riva. Too bad the book "Follow the Money" is not in audiobook form--some of us can no longer read print books. Audio has been a boon to us.
I went to grade school during the 60s. As a child, due to more energy than a child could possibly need, I was very disruptive in the classroom. One teacher finally had enough and sent me on the "walk of shame" to the principal's office. One swat and I never caused another classroom disruption. It didn't scar me emotionally and, to be honest, there's no telling what kind of troublemaker that I would have become if it hadn't happened.
The profit motive is what industrialized farms and brought us to the point of having only 2% of the U.S. population needing to work on farms as opposed to the 50% that worked on farms in the 1870's. Even Deng Xiaoping of Communist China saw that it was necessary to allow farmers to have the freedom to make profits on their labor. Prior to China's Rural Reform they were starving in droves due to the lack of a profit motive and the central planning that was put forth under Mao's regime.
Not only that, but with mostly machines "raising" our food, spreading pesticides like Glyphosate, i.e. Roundup Ready, (which is also used to dry some crops before harvesting), the U.S. has descended to the very bottom of industrialized countries in terms of our Health (also due to the control the Pharmaceutical companies have over our government, our doctors, and our insurance providers). We have the highest percentage of Obesity in the entire world, so you know "Something's gone wrong". ................................... Good info on what has happened in the U.S. over the last 20 years can be read at www.madinamerica.com/2018/10/healthy-planethealthy-mind-zach-bush-md/?fbclid=IwAR31sC5lMb-gE4pZd9EMnUHJT2pIGVOwr2aBGbwRxoDYmGQV31pEJu4Mo4A
For 99.99% of people, being obese is a choice. Outside of rare glandular disorders, if a person is obese it is because they chose to ingest the wrong food and not exercise properly. I completely agree that obesity is a problem in the U.S. though. I also do appreciate the article that you posted, I found it to be a interesting one. The article does however appear to draw a direct causal link between these agricultural chemicals and Autism, which is very misleading. There may be some correlational data, but you cant draw a causal relationship based on that. I did find the part of the article fascinating though when they mentioned that it would only take 16% of consumers buying organic to shift the production. I think this a great example of the power of the market place. We should let the power of the consumer's buying habits dictate what food is produced.
Tractors replaced horses and oxen on the farms. Output per unit of input of labor and capital goods dramatically increased. Farms grew in size. Three side-effects occurred: (1) the price of farm land (or even the cost to lease land from absentee owners) increased to levels that prevented many people from remaining farmers; (2) because of the cost of land, of fertilizers, or fossil fuels, farmers shifted to monoculture to maximize output; and (3) farmers borrowed heavily to acquire more acreage and to meet other expenses, which meant that anytime commodity prices fell they could not obtain enough revenue to cover their loan payments, they defaulted, their farms were sold at foreclosure, and the number of family-owned farms declined.
The next downturn is going to be insane. 2007-8 Debt bubble was in 3 categories: chiefly residential housing mortgage, then credit card debt, and stock market margin debt record high at $378 billion. This time same 3 are even worse and surpassing those 2007-8 pre crash levels. And 4 more items added: 1) Auto loan debt that was only $400 billion in 2008, now $1.3 trillion surpassing credit card debt. 2) Commercial real-estate debt is well above the 2008 high levels as well, while retail markets are crumbling, consolidating toward box chains like Walmart, and the increasing near 50% all online purchases via Amazon. 3) Student loan debt ballooned to from about $400 bill in 2008 to $1.5 trillion 2018, and default rates are high and increasing, and those that don't pay on them legally are high, but those debts are not discharge-able in bankruptcy and continue to compound interest. 4) Corporate borrowing has grown well beyond 2008, and most companies are not sitting on cash, only the top 40 companies have or had a cash pile. GE, 3M, DuPont, Caterpillar, etc. industrial and large manufacturers are heavily leveraged, and their revenue is in decline... and recently automobile sector is too. This debt is a mixture of Corporate bonds, and spooky is that of collateralized debt obligations of corporate loans. Spooky still, many of these companies literally were issuing these bonds, and taking out these loans to finance stock buy backs... an artificial boost to their stock price in the short run, while doing nothing to make the company produce more, sell more, or otherwise be more productive.... that debt becomes immediate dead weight (no assets backing it) as shares bought back are retired. Many financial experts have noted the debt bubble in all sectors and the corresponding asset bubble prices in real-estate and stocks. A few names have been attached to it "The Everything Bubble" to the "Mother of All Bubbles". You can examine the insanity for yourself: www.forbes.com/sites/jessecolombo/2018/08/29/the-u-s-is-experiencing-a-dangerous-corporate-debt-bubble/#28692f59600e business.financialpost.com/news/economy/beware-the-mother-of-all-credit-bubbles www.hudson.org/research/14521-when-will-the-corporate-debt-bubble-burst knowledge.wharton.upenn.edu/article/corporate-debt-bubble/
This is disappointing. The science on glyphosate is overwhelming. Please host a scientist when you are going to talk about this, world food production depends on it!
* As our friend Yanis Varoufakis instructs us: "Real Power has moved from The Political Sphere to The Financial Sphere." This explains the obvious answer to the question: "What would you prefer, Johnny -- to grow up to be the U.S. President or to be the CEO of Goldman Sachs?"
Really greatful you brought up corporeal punishment. It's a subject that hits close to home. Here in Scotland it's now illegal to beat kids.. How can a society that recognizes its a crime to beat your wife, or partner fully accept the ability to beat their kids. It makes NO sense. There's PLENTY of non violent forms of discipline available, if you have good communication with your kids discipline shouldn't even be necessary. America needs to get its shit together on this. Also, it's still legal to marry kids in some states isn't it? If so, WTF Great episode Mr Wolff
6:20 BULLSHIT, you know how many times I have seen a child who is not physically disciplined be the one to initiate aggression, plenty of times that's how many.
"There is no freedom without economic freedom for the individual we're by the element of violence is non-existent except in defense of the fruits of one's labor or private property" MLK
@@flash_flood_area no socialism is the same as the crow knee and corporate capitalism that we have today they all require the authority of the government gun to ensure their Monopoly over you me and the rest of the sheep tards, in fact it's even worse than that, when we were born we were issued birth certificates those birth certificates allowed to generate new currency under our names from which they borrow from to enrich themselves, but I digress the systems I mentioned whether they're socialism communism crony capitalism or corporate capitalism all require initiation of violence buy an authorized Force to ensure their Monopoly over the economy in such a way that you cannot participate on an equal Level Playing Field the way your ancient ancestors did Once Upon a Time with their horse and cart and the fruits of their labor without a middle man holding a gun for their share of the the earnings, please give me thumbs down thumbs up a reply of some sort and I hope you learned something new thank you very much for reading I really appreciate it, I really like this form of communication and adds to the quality of life since we were all really isolated and disenfranchised from each other and that is also by Design it's no accident in Romans time's the emperor's utilized by then conquer strategy is very adequately in overtime they have perfected this art. You must come to know and realize one thing that under all systems we're going to have a group we're going to benefit over us while the rest of us the majority continue to suffer damages and injuries of the human spirit, which I've been passed on from one generation to another, in fact every economic boom bust that ended in poverty sickness and then death was a result of governments and their policies created in such a way and it maintained monopolies for the few at the expense of the majority, and there's nothing new happening today,
@@gigsrouiy8080 Well, I think there is a difference today. Firstly because the powerful are not bound by geography, but are part of what amounts, more and more, to a global cabal. Secondly, because the autonomous zones of the world are shrinking to almost nothing, i.e. there are almost no areas where one can go to opt out, pitch a tent, and live off the land, plus almost nowhere to escape constant surveillance by TPTB. At least in the days of the horse cart, one could sometimes slip away permanently into the woods, or beyond the reach of "civilization".
Yes, follow the money and discover why we have to change the money system from a private for-profit system, that rents us our money, to a public for public purpose money system issuing asset money as a debt-free permanently circulating currency. That is what Greenbacks were so it's not like it won't work, in fact it is the only way we will get to where we want to go. We should nationalize the money, as Herman Daly recommends, then we will not need to nationalize the banks.
Under individualism, what an individual gets is up to himself and what he earns is exactly what he deserves. Individualism means that people only worry about making a profit for themselves and their business rather than working together democratically and collectively on an economy-wide scale to determine the distribution of income. This means that the capitalist class gets to determine their share of the income distribution first and individuals in the lower-classes have to compete for the crumbs left over. The liberal hegemony of individualism allows the capitalist class to concentrate the ownership of the means of production into their hands and allows them to hog most of the income distribution. Anti-collectivism is an unspoken practice of the free market. Anti-collectivism: 1) is the reason why we have little to no worker cooperatives 2) it’s the reason why we don’t have more public or common ownership of the means of production (especially banking and key industries) 3) it’s the reason why we don’t have an economic bill of rights 4) it’s the reason why we don’t have economic democracy 5) it’s the reason why we have winner-take-all salaries rather than a democratically determined income distribution 6) it’s the reason why the market is our master rather than our servant 7) it’s the reason why we can’t have an economy that works for everyone rather than the few 8) it’s the reason why the capitalist class dominates our economy and society 9) it’s the reason why there are no rules or principles of justice that guide the economy 10) it’s the reason why we don’t have a “conscious” allocation of the distribution of income 11) it’s the reason why we had the GFC of 2008 12) and it’s the reason why we have austerity today rather than fiscal policy A commitment to anti-collectivism and the free market simply means that a small group of capitalists get to monopolize the income distribution and dominate the economy
Individualism as it relates to the economy has a lot of cooperation you can't function as an individual within the economy without other people, one doesn't have to give up there I'll ptonomy just to be forced into a course of manipulative system that is based on the initiation of force under this idea that it's for the greater good, when the greater good is the individual and individuals needs and desires, cuz at the end of the day when we all go home from are socialist protests we are on our own, even in a socialist or communist system or utopian Zeitgeist when we go home we're still going home by ourselves, we are still dealing with our own sufferings are on pains and disabilities and what not, as an individual you can decide how much wealth you want to create in a world of true economic freedom for the poor, and then you can dictate how much you voluntarily want to give the people, this professor will always use an accountant or accounting software to try to pay the least amount of tax contribution to the poor, as will everybody else, why? Because deep down we are primarily concerned about ourselves and we should be because if you're concerned about everybody else besides yourself you're going to get used and abused bye Friends by life mates your children everybody. We see the first initiations of Monopoly is dating back to the tube out 10,000 years ago with the Sumerians, in the elites have been perfecting the art of creating and sustaining monopolies for that many years, they will continue to control the standing armies, and those armies will be used to sustain their monopolies into the future, whether it is under the disguise of communism, socialism crony capitalism corporate capitalism authoritarianism feudal Lord as an oligarchy oligarchy, oligopoly and every other system that requires the initiation of force quarters and manipulation of the masses for the benefit of a few, all those systems works for you if you are an elite are you an anointed Elite? If not then you'd probably want to subscribe to economic freedoms and a sound money for the poor, so that they can once again open up a Fruit Stand like their ancestors did before the middleman came into the picture holding a gun at their heads asking for their fair share, this professor is a joke, if you get all your information from One Source without alternative perspectives that's all you're ever going to know.
I really like Wolff , but it is a matter of degree not so called corporal punishment in and of itself . Yes it is very wrong to put your kid over the knee, make him/her bare assed , and whap him very hard on the ass with your hand, belt , paddle etc . However....... As a child we lived on a street with train tracks going down the middle in a working class neighborhood . When I did that , my mother took me by the arm and slap me a couple times on my clothes covered ass . And then point the finger at me and say don't you do that again ! you could get killed ! and then pick me up , she'd cry and hug me and say I love you and don't want to lose you . It made it so clear to me, her love and my love for her my mother, that i never ran across those train tracks again .
In the dimensions of spacetime where science is usually conflicting, 85 orders of magnitude exist in all spacetime, itself a reemerging principle in the relationship between mass and energy. And, certainly, there are bumps we fail to address, despite our bulk memory. The Grand Unified Theory of Classical Physics remediated all issues that get conflicted in this regard, that of real phenomenon realized, not invented mathematically, a step in time, with 85 orders of magnitude. What time, or, what set of dimensions do we live in? Good point about the ballot, injustice, in general. Boundaries, whatever the domain, matter. This is the Christ Impulse, the dynamics involved, a boundary value problem in biological spacetime, as well.
RobertMStahl sounds interesting as a concept but maybe easier for more people to process and discuss if you delivered the information in a way that was a bit less like a "dune: spacing guild navigator" trying to turn mental images back into human speech...
AND, I'm guessing most people aren't aware of this but I just read recently where Obama signed legislation of some kind back in March 2016 that says that if/when the 'too big to fail' banks crash next time that they are within their legal rights to keep all of the monies on deposit in their banks! In fact, it says that they cannot apply for a government bailout unless they have first taken for themselves the monies on deposit in their banks!! In other words, this time they will be keeping your & my money!!! Please google for yourselves, peeps..
Limited government terms by law is one start, That means no lifers who do little to no problem solving economically and are influenced. Stop corporations from funding political campaigns and inforced and investigated by law . Break up the federal Reserve Banks. Back up all funded by the people loans at fixed interest by the people and systematically evaluated for the people and for those who qualify , start little and work up strategy. Take all speculators out of the system. See true leaders and good limited term judges all Judges everywhere. People of good character who work for the people and not for themselves. This can be done if We the People make a STAND NOW!!!!!
Interesting ... however, neither Bolshevism nor the Cuban revolution, regardless of how they began, became anything more than totalitarian governments with state directed economies of scarcity. Regulated capitalism combined with social democratic governments is a far better solution than the socialism that Ms Enteen describes and espouses.
If another crash is coming, how will it be 'solved'? Continued low interest rates for the next 10-20 years? Is there another option other than getting rid of capitalism? (which would be opposed by the capitalists)
You can trace every economic collapse going back to 200 BC as a result of government policy for the benefits of monopolists which have created every boom-bust cycle, which has led to the impoverishment disease and death of many, people opt not be fooled by this professor who leaves out the inherent violence required for his system to work
A ( long known ) REVELATION!?!?!?!?!? Lending "money" ( and arbitrary designation at best, a complete fiction at worst ) at interest ( usury ), which lends ( or creates ) the principle, but NOT the interest, would necessarily result in an extraction of wealth ( another rather ephemeral construction ) which flows from the borrower to the lender, until there is no wealth left to extract. Now add the necessity of making a profit, to pay the interest first, all other costs and then to reward the risk? or provide the incentive for investing the effort? and you have a system which is guaranteed to fail, doubly so, but since all of the elements to this point are essentially "imaginary", you also have a system which will "ignore" the limits of what can be sustained in reality, to satisfy the demands of what is a completely artificial construction. All "economic understanding" to this point is therefor "entrapped" within this paradigm, and has, as of yet, not been able to break away from it, regardless of what label it adopts and no matter how much of the preceding paradigm it has managed to decipher. Much of this rests with our quest for "meaning" and the need for an "answer", and finding one, when there was insufficient information or evidence available to construct a correct assessment, or even one that was close to a correct approximation of one. Now that the limits of reality have begun to asserts themselves, we are either unable or unwilling to abandon these "mythologies", which in turn supports the above "mythology" and the price for this arrogance will be exceedingly brutal. The universe writes no epitaphs.
I really appreciate how you've made the whole program available to see in TH-cam. Thank you.
Prof wolff is truly amazing
Follow the Money sounds like an amazing book. I've heard many of these interviews over the years on KPFA but to have them all in one place in a book is a dream come true.
Great video
I watched this video last night and a good night’s sleep has really helped in understanding the relevance of your message and the message of your guest. Janet Yellon has good reason to be sounding the alarm; 10 years of the West dumping trillions of dollars of free funny money into the system, an isolationist US using the World’s Reserve currency as a weapon and a narrative being pushed to a population that doesn’t have $400.00 for an emergency that happy days are here again so go out and spend this holiday season is cause for alarm. This doesn’t include the Black Swans that could take us out before 2019 even gets here. Yellon sounding the alarm now seems to be standard practice for those who could have made a difference in the outcome of this crisis when they were helping create and sustain this crisis.
I’ve been trying to follow the money like your guest recommended to get a clear understanding of the history of this crisis we’re presently in. A video series titled “The hidden Secrets of Money” has helped connect the dots on a lot of the over determining factors in this current crisis. The videos have a Libertarian slant but once you remove the bias there is a lot of money/currency historical data. The videos are good at manipulating the role of greed, fraud and deception in Western political/ economic history. This manipulation helps to support their narrative but the videos do accurately state most of economic/currency history. The biased narrative is one of polarity “Collectivism vs. Individualism” the videos portray both as part of a pendulum that swings due to crisis. There is never dialectic; a synthesis so the polarity repeats itself in a never ending cycle. The videos use false equivalency to justify its stance of Individualism. The videos portray Marx’s dialectic critique of Capitalism as Socialism; the videos portray Socialism as Keynesian-ism and Keynesian-ism as Roosevelt’s policies to save Capitalism.
When this political/economic structure fails and it is going to happen very soon Marx’s dialectic critique offers us a new economic paradigm. What makes a 19th century Philosopher such a soothsayer; it’s his understanding of Capitalism’s design; his critique understands that Capitalism is an organic dialectic process. A new resilient post-Capitalist world will focus circulation of Capital on saving our species from Climate chaos. Money will become a utility that insures the fluid circulation of Capital. Credit (Money creation) which is anti-value will insure the reproduction of the circulation of the Capital process. Entrepreneur’s can be issued interest bearing debt based upon their venture’s value in assisting in Climate chaos and living labour will assist in value realization.
Let’s hope that Hegel has it right and we are just finite moments of an infinite that is in the process of becoming a completely free sovereign Geist. Let’s hope that Marx has it right and Mankind always sets for itself only such tasks as it can solve.
Excellent guest.
Thank you for this video! I look forward to your update every week.
wolff continues to educate me every week, thank you Prof. Wolff
Thank you!!
Another great show, thanks for all you do Professor Wolff
The picture of this here 12:06 gives me a sad feeling that things are bad on bad,
Wonderful interview. Riva's reminds me of my own childhood. My parents never used the word 'socialism', but there were copies of The Catholic Worker lying around, and because we had neither cell phones, nor internet, I actually read them.
@TRUMPS RETARDED INBREEDS Yeah, I hope they seek stuff out, but as a child, I only read it because I was bored and it was right in front of me... Oh, and great woodblock illustrations that caught my eye. Young kids online today might not run across such a thing, but you never know.
But yeah, wouldn't that have been amazing?
@TRUMPS RETARDED INBREEDS Yes, today's kids have the ability to search the world. I'm a huge fan of the internet.
Nevertheless, young kids today are often in a bubble created by an algorithm; and as a parent, I see that my kids aren't as exposed to my interests, as I was to those of my own parents.
Besides the reading material, I'm thinking of how, when I was a kid, we only had one TV; so if my parents were watching something, so did I. I couldn't go to my room and watch vines, or play a computer game, like my own kids could. So if the folks were watching a documentary, or a political debate, so did I. That had a shaping influence.
If I sound like I think that was a better thing than what we have today - No. It's just different.
I am captivated by this man ..
I love this woman! Why have I just now heard of her?
The interview with Riva was amazing. She's a true role model for woman. 👌
difference with this crash is there will be no recovery. billions will die over next few years.
I love you.
Thank you...is not enough. But due to the economy, it's all I have and am happy to share.
Britain has also given up on their Political System as well, the System is rigged, it always has been, and i am a 80s Kid, so i have the Life Skills as they say, so i can understand why America feels the same, we have things in common!
I think if businesses really could get away with paying women a fraction of what they pay men for the same value, they would employ nothing but women. _That's_ "following the money".
Great video and Round up should be ban but it seems like profit over people s health , very sad 😢
Richard Wolff is one of our best spokesmen . Wolff himself would say its not about me its about us . We have to stop looking for leaders or putting the burden of positive change on the shoulders of men and women like Wolff . We all have our bit to do .
LOL,but wait didn’t Janet Yellen say we wouldn’t see another financial crisis in our lifetime like last year???
Nationalize the Fed!
The basic rule is to pump up the debt, grab some money and buy real assets, let the system go broke. Point to the victims as the cause and give them some soup.
KPFA and Flash Points with interviewer Dennis Bernstein is one of the best interview shows I have ever heard . Bernstein is Jewish and very condemning of Israel . Dennis has been disowned by his grandfather and Dennis is willing to forgo a million dollars in his grandfather's will to Dennis Bernstein .
Wonder how much of the legal marijuana market uses roundup. Lovely plant once helped ease and perhaps treat and prevent cancers will now be causing it via roundup😞
Beating children is not acceptable! Abuse should be a crime. However, that is not the same as a smack on the bottom. You cannot reason with a little child who has not reached the age of reason, they have no fear of moving cars, fire, heights & other dangers. Beware of laws that invade the home & infringe upon common sense parenting.
Punishment for punishing is a bit ironic. How about we encourage people to avoid violence as much as possible. Educate in order to mitigate a society that is addicted to violence.
Sandy not to mention teachers spend over 40% of their time disciplining children instead of teaching them! I don’t agree with anyone saying not to spank your children! Abuse is not spanking!! Can’t stand people that parallel the two!!
@@Blackout300 it doesn't work. There's a massive body of evidence that shows that spanking doesn't work and that it is effectively indistinguishable from other forms of violence used on a child.
@@MatthewOstergren Oh yeah where is that massive body of evidence then?
Your going to have to tell that to someone who did not grow up avoiding what I had been warned against knowing that if I didn't I would get a spanking as a kid or an outright ass beating as an older kid.
You'll also have to find someone that in 8 years has had to strike their daughter more than three or four times, and tell them their child does not respond how you want to being hit.
Part of the reason I don't have to hit my children is because they know I will, and your massive body of evidence (that I can't wait to see) will 100% for sure be something that somebody wrote, that in itself giving it zero validity .
Right, that's what I'm trying to say.
Another serious consequences of the lowering of interest rates was to reignite the credit-fueled and speculation-driven upward climb in land prices. Millions of property owners were able to refinance out of high cost sub-prime mortgage loans and lower their monthly debt obligations. At the same time, residential property prices rose in many parts of the nation to the level of 2007 that so stressed the "housing" market that a crash was inevitable. The capacity of people to keep this game going depends on whether household income and household savings have kept pace with the rising cost of living, and of residential property in particular. We seem to have reached the point where another property market correction is upon us. Young adults can neither afford to leave their parents' home or find the savings or income to afford entry level home ownership.
What should have been done in 2008 that was not done? Three things are at the top of the list: (1) prohibit any financial institution that accepts government-insured deposits from making loans for the purchase of land or accepting land value as collateral for borrowing; (2) Remove any distinction in tax rate between income earned from wages or salaries and that derived from the sale of land, shares of stock or other assets (thus removing the tax advantage of so-called "capital gains," which recognizes the fact that actual capital goods do not increase in value over time, they depreciate); and (3) Encourage municipal governments (as well as counties, boroughs and townships) and local school districts to move over a fairly short period to a land-only property tax base, which will remove the potential to profit by speculation in land and will encourage owners of land to bring the land held to its highest, best use or sell to someone who will.
Lovely and interesting woman, Riva. Too bad the book "Follow the Money" is not in audiobook form--some of us can no longer read print books. Audio has been a boon to us.
I went to grade school during the 60s. As a child, due to more energy than a child could possibly need, I was very disruptive in the classroom. One teacher finally had enough and sent me on the "walk of shame" to the principal's office. One swat and I never caused another classroom disruption. It didn't scar me emotionally and, to be honest, there's no telling what kind of troublemaker that I would have become if it hadn't happened.
Mark Twain... I tried never to let School get in the way of my education
The profit motive is what industrialized farms and brought us to the point of having only 2% of the U.S. population needing to work on farms as opposed to the 50% that worked on farms in the 1870's. Even Deng Xiaoping of Communist China saw that it was necessary to allow farmers to have the freedom to make profits on their labor. Prior to China's Rural Reform they were starving in droves due to the lack of a profit motive and the central planning that was put forth under Mao's regime.
Not only that, but with mostly machines "raising" our food, spreading pesticides like Glyphosate, i.e. Roundup Ready, (which is also used to dry some crops before harvesting), the U.S. has descended to the very bottom of industrialized countries in terms of our Health (also due to the control the Pharmaceutical companies have over our government, our doctors, and our insurance providers). We have the highest percentage of Obesity in the entire world, so you know "Something's gone wrong". ................................... Good info on what has happened in the U.S. over the last 20 years can be read at www.madinamerica.com/2018/10/healthy-planethealthy-mind-zach-bush-md/?fbclid=IwAR31sC5lMb-gE4pZd9EMnUHJT2pIGVOwr2aBGbwRxoDYmGQV31pEJu4Mo4A
For 99.99% of people, being obese is a choice. Outside of rare glandular disorders, if a person is obese it is because they chose to ingest the wrong food and not exercise properly. I completely agree that obesity is a problem in the U.S. though. I also do appreciate the article that you posted, I found it to be a interesting one. The article does however appear to draw a direct causal link between these agricultural chemicals and Autism, which is very misleading. There may be some correlational data, but you cant draw a causal relationship based on that. I did find the part of the article fascinating though when they mentioned that it would only take 16% of consumers buying organic to shift the production. I think this a great example of the power of the market place. We should let the power of the consumer's buying habits dictate what food is produced.
Tractors replaced horses and oxen on the farms. Output per unit of input of labor and capital goods dramatically increased. Farms grew in size. Three side-effects occurred: (1) the price of farm land (or even the cost to lease land from absentee owners) increased to levels that prevented many people from remaining farmers; (2) because of the cost of land, of fertilizers, or fossil fuels, farmers shifted to monoculture to maximize output; and (3) farmers borrowed heavily to acquire more acreage and to meet other expenses, which meant that anytime commodity prices fell they could not obtain enough revenue to cover their loan payments, they defaulted, their farms were sold at foreclosure, and the number of family-owned farms declined.
That's awesome! Richard Wolff found the real life Herbert from Family Guy!
Please share this video!
Did our beloved Dr. Wolff pronounce Bayer "by-er"...? XD
The next downturn is going to be insane. 2007-8 Debt bubble was in 3 categories: chiefly residential housing mortgage, then credit card debt, and stock market margin debt record high at $378 billion.
This time same 3 are even worse and surpassing those 2007-8 pre crash levels.
And 4 more items added:
1) Auto loan debt that was only $400 billion in 2008, now $1.3 trillion surpassing credit card debt.
2) Commercial real-estate debt is well above the 2008 high levels as well, while retail markets are crumbling, consolidating toward box chains like Walmart, and the increasing near 50% all online purchases via Amazon.
3) Student loan debt ballooned to from about $400 bill in 2008 to $1.5 trillion 2018, and default rates are high and increasing, and those that don't pay on them legally are high, but those debts are not discharge-able in bankruptcy and continue to compound interest.
4) Corporate borrowing has grown well beyond 2008, and most companies are not sitting on cash, only the top 40 companies have or had a cash pile. GE, 3M, DuPont, Caterpillar, etc. industrial and large manufacturers are heavily leveraged, and their revenue is in decline... and recently automobile sector is too.
This debt is a mixture of Corporate bonds, and spooky is that of collateralized debt obligations of corporate loans.
Spooky still, many of these companies literally were issuing these bonds, and taking out these loans to finance stock buy backs... an artificial boost to their stock price in the short run, while doing nothing to make the company produce more, sell more, or otherwise be more productive.... that debt becomes immediate dead weight (no assets backing it) as shares bought back are retired.
Many financial experts have noted the debt bubble in all sectors and the corresponding asset bubble prices in real-estate and stocks.
A few names have been attached to it "The Everything Bubble" to the "Mother of All Bubbles".
You can examine the insanity for yourself:
www.forbes.com/sites/jessecolombo/2018/08/29/the-u-s-is-experiencing-a-dangerous-corporate-debt-bubble/#28692f59600e
business.financialpost.com/news/economy/beware-the-mother-of-all-credit-bubbles
www.hudson.org/research/14521-when-will-the-corporate-debt-bubble-burst
knowledge.wharton.upenn.edu/article/corporate-debt-bubble/
This is disappointing. The science on glyphosate is overwhelming. Please host a scientist when you are going to talk about this, world food production depends on it!
I agree. Please, Prof. Wolff, bring in a highly-regarded scientist to explain glyphosate.
@@sallymilow6646 Good place to start. Every science communicator who has looked at the evidence will say the same thing. www.acsh.org/tags/glyphosate
If the current policies persist in the US, you might live to see bills of 4 kopeks issued!
a good thrasing marks the man
Hello comrades
THIS ISSUE IS MAJOR!!!!!!!!
What a charming lady.
*
As our friend Yanis Varoufakis instructs us: "Real Power has moved from The Political Sphere to The Financial Sphere." This explains the obvious answer to the question:
"What would you prefer, Johnny -- to grow up to be the U.S. President or to be the CEO of Goldman Sachs?"
Really greatful you brought up corporeal punishment. It's a subject that hits close to home. Here in Scotland it's now illegal to beat kids..
How can a society that recognizes its a crime to beat your wife, or partner fully accept the ability to beat their kids. It makes NO sense.
There's PLENTY of non violent forms of discipline available, if you have good communication with your kids discipline shouldn't even be necessary.
America needs to get its shit together on this.
Also, it's still legal to marry kids in some states isn't it? If so, WTF
Great episode Mr Wolff
6:20 BULLSHIT, you know how many times I have seen a child who is not physically disciplined be the one to initiate aggression, plenty of times that's how many.
"There is no freedom without economic freedom for the individual we're by the element of violence is non-existent except in defense of the fruits of one's labor or private property" MLK
This music conjures up car jacking imagery, ironically quite fitting for the theme of this channel
Yeah, I love his choice of music.
@@flash_flood_area yes after all socialism requires thuggery
@@gigsrouiy8080 oh yeah, unlike capitalism, uh huh.
@@flash_flood_area no socialism is the same as the crow knee and corporate capitalism that we have today they all require the authority of the government gun to ensure their Monopoly over you me and the rest of the sheep tards, in fact it's even worse than that, when we were born we were issued birth certificates those birth certificates allowed to generate new currency under our names from which they borrow from to enrich themselves, but I digress the systems I mentioned whether they're socialism communism crony capitalism or corporate capitalism all require initiation of violence buy an authorized Force to ensure their Monopoly over the economy in such a way that you cannot participate on an equal Level Playing Field the way your ancient ancestors did Once Upon a Time with their horse and cart and the fruits of their labor without a middle man holding a gun for their share of the the earnings, please give me thumbs down thumbs up a reply of some sort and I hope you learned something new thank you very much for reading I really appreciate it, I really like this form of communication and adds to the quality of life since we were all really isolated and disenfranchised from each other and that is also by Design it's no accident in Romans time's the emperor's utilized by then conquer strategy is very adequately in overtime they have perfected this art. You must come to know and realize one thing that under all systems we're going to have a group we're going to benefit over us while the rest of us the majority continue to suffer damages and injuries of the human spirit, which I've been passed on from one generation to another, in fact every economic boom bust that ended in poverty sickness and then death was a result of governments and their policies created in such a way and it maintained monopolies for the few at the expense of the majority, and there's nothing new happening today,
@@gigsrouiy8080 Well, I think there is a difference today. Firstly because the powerful are not bound by geography, but are part of what amounts, more and more, to a global cabal.
Secondly, because the autonomous zones of the world are shrinking to almost nothing, i.e. there are almost no areas where one can go to opt out, pitch a tent, and live off the land, plus almost nowhere to escape constant surveillance by TPTB.
At least in the days of the horse cart, one could sometimes slip away permanently into the woods, or beyond the reach of "civilization".
Yes, follow the money and discover why we have to change the money system from a private for-profit system, that rents us our money, to a public for public purpose money system issuing asset money as a debt-free permanently circulating currency. That is what Greenbacks were so it's not like it won't work, in fact it is the only way we will get to where we want to go. We should nationalize the money, as Herman Daly recommends, then we will not need to nationalize the banks.
Under individualism, what an individual gets is up to himself and what he earns is exactly what he deserves. Individualism means that people only worry about making a profit for themselves and their business rather than working together democratically and collectively on an economy-wide scale to determine the distribution of income. This means that the capitalist class gets to determine their share of the income distribution first and individuals in the lower-classes have to compete for the crumbs left over. The liberal hegemony of individualism allows the capitalist class to concentrate the ownership of the means of production into their hands and allows them to hog most of the income distribution.
Anti-collectivism is an unspoken practice of the free market. Anti-collectivism:
1) is the reason why we have little to no worker cooperatives
2) it’s the reason why we don’t have more public or common ownership of the means of production (especially banking and key industries)
3) it’s the reason why we don’t have an economic bill of rights
4) it’s the reason why we don’t have economic democracy
5) it’s the reason why we have winner-take-all salaries rather than a democratically determined income distribution
6) it’s the reason why the market is our master rather than our servant
7) it’s the reason why we can’t have an economy that works for everyone rather than the few
8) it’s the reason why the capitalist class dominates our economy and society
9) it’s the reason why there are no rules or principles of justice that guide the economy
10) it’s the reason why we don’t have a “conscious” allocation of the distribution of income
11) it’s the reason why we had the GFC of 2008
12) and it’s the reason why we have austerity today rather than fiscal policy
A commitment to anti-collectivism and the free market simply means that a small group of capitalists get to monopolize the income distribution and dominate the economy
Individualism as it relates to the economy has a lot of cooperation you can't function as an individual within the economy without other people, one doesn't have to give up there I'll ptonomy just to be forced into a course of manipulative system that is based on the initiation of force under this idea that it's for the greater good, when the greater good is the individual and individuals needs and desires, cuz at the end of the day when we all go home from are socialist protests we are on our own, even in a socialist or communist system or utopian Zeitgeist when we go home we're still going home by ourselves, we are still dealing with our own sufferings are on pains and disabilities and what not, as an individual you can decide how much wealth you want to create in a world of true economic freedom for the poor, and then you can dictate how much you voluntarily want to give the people, this professor will always use an accountant or accounting software to try to pay the least amount of tax contribution to the poor, as will everybody else, why? Because deep down we are primarily concerned about ourselves and we should be because if you're concerned about everybody else besides yourself you're going to get used and abused bye Friends by life mates your children everybody. We see the first initiations of Monopoly is dating back to the tube out 10,000 years ago with the Sumerians, in the elites have been perfecting the art of creating and sustaining monopolies for that many years, they will continue to control the standing armies, and those armies will be used to sustain their monopolies into the future, whether it is under the disguise of communism, socialism crony capitalism corporate capitalism authoritarianism feudal Lord as an oligarchy oligarchy, oligopoly and every other system that requires the initiation of force quarters and manipulation of the masses for the benefit of a few, all those systems works for you if you are an elite are you an anointed Elite? If not then you'd probably want to subscribe to economic freedoms and a sound money for the poor, so that they can once again open up a Fruit Stand like their ancestors did before the middleman came into the picture holding a gun at their heads asking for their fair share, this professor is a joke, if you get all your information from One Source without alternative perspectives that's all you're ever going to know.
So world governments and financial institution's don't have the populations best interest at heart?
TRUMPS RETARDED INBREEDS ever come across sarcasm?
I really like Wolff , but it is a matter of degree not so called corporal punishment in and of itself . Yes it is very wrong to put your kid over the knee, make him/her bare assed , and whap him very hard on the ass with your hand, belt , paddle etc . However....... As a child we lived on a street with train tracks going down the middle in a working class neighborhood . When I did that , my mother took me by the arm and slap me a couple times on my clothes covered ass . And then point the finger at me and say don't you do that again ! you could get killed ! and then pick me up , she'd cry and hug me and say I love you and don't want to lose you . It made it so clear to me, her love and my love for her my mother, that i never ran across those train tracks again .
In the dimensions of spacetime where science is usually conflicting, 85 orders of magnitude exist in all spacetime, itself a reemerging principle in the relationship between mass and energy. And, certainly, there are bumps we fail to address, despite our bulk memory.
The Grand Unified Theory of Classical Physics remediated all issues that get conflicted in this regard, that of real phenomenon realized, not invented mathematically, a step in time, with 85 orders of magnitude. What time, or, what set of dimensions do we live in? Good point about the ballot, injustice, in general.
Boundaries, whatever the domain, matter. This is the Christ Impulse, the dynamics involved, a boundary value problem in biological spacetime, as well.
RobertMStahl sounds interesting as a concept but maybe easier for more people to process and discuss if you delivered the information in a way that was a bit less like a "dune: spacing guild navigator" trying to turn mental images back into human speech...
AND, I'm guessing most people aren't aware of this but I just read recently where Obama signed legislation of some kind back in March 2016 that says that if/when the
'too big to fail' banks crash next time that they are within their legal rights to keep all of the monies on deposit in their banks! In fact, it says that they cannot apply for a government
bailout unless they have first taken for themselves the monies on deposit in their banks!! In other words, this time they will be keeping your & my money!!! Please google for yourselves, peeps..
Why not post your reference as opposed to suggesting an unsupported narrative. All your doing is attempting to spread gossip.
@@chestermandelbrot6903 google it, slug!!!
@TRUMPS RETARDED INBREEDS can you not google it for yourself???!!!! wtf???!!!
Limited government terms by law is one start, That means no lifers who do little to no problem solving economically and are influenced. Stop corporations from funding political campaigns and inforced and investigated by law . Break up the federal Reserve Banks. Back up all funded by the people loans at fixed interest by the people and systematically evaluated for the people and for those who qualify , start little and work up strategy. Take all speculators out of the system. See true leaders and good limited term judges all Judges everywhere. People of good character who
work for the people and not for themselves. This can be done if We the People make a STAND NOW!!!!!
Interesting ... however, neither Bolshevism nor the Cuban revolution, regardless of how they began, became anything more than totalitarian governments with state directed economies of scarcity. Regulated capitalism combined with social democratic governments is a far better solution than the socialism that Ms Enteen describes and espouses.
"Evidence suggests Roundup could be dangerous, so there should be some studies done to find out if this evidence is true."---- WTF?
If another crash is coming, how will it be 'solved'? Continued low interest rates for the next 10-20 years? Is there another option other than getting rid of capitalism? (which would be opposed by the capitalists)
You can trace every economic collapse going back to 200 BC as a result of government policy for the benefits of monopolists which have created every boom-bust cycle, which has led to the impoverishment disease and death of many, people opt not be fooled by this professor who leaves out the inherent violence required for his system to work
A ( long known ) REVELATION!?!?!?!?!?
Lending "money" ( and arbitrary designation at best, a complete fiction at worst ) at interest ( usury ),
which lends ( or creates ) the principle, but NOT the interest, would necessarily result in an extraction
of wealth ( another rather ephemeral construction ) which flows from the borrower to the lender, until
there is no wealth left to extract.
Now add the necessity of making a profit, to pay the interest first, all other costs and then to reward
the risk? or provide the incentive for investing the effort? and you have a system which is guaranteed
to fail, doubly so, but since all of the elements to this point are essentially "imaginary", you also
have a system which will "ignore" the limits of what can be sustained in reality, to satisfy the
demands of what is a completely artificial construction.
All "economic understanding" to this point is therefor "entrapped" within this paradigm, and
has, as of yet, not been able to break away from it, regardless of what label it adopts and no
matter how much of the preceding paradigm it has managed to decipher.
Much of this rests with our quest for "meaning" and the need for an "answer", and finding one,
when there was insufficient information or evidence available to construct a correct assessment,
or even one that was close to a correct approximation of one. Now that the limits of
reality have begun to asserts themselves, we are either unable or unwilling to abandon
these "mythologies", which in turn supports the above "mythology" and the price for this
arrogance will be exceedingly brutal.
The universe writes no epitaphs.
Why doesn't every single person with a voice in America SAY I'M ALLERGIC TO GLYPHOSATE???? NO MORE!!!
socialism will still be a victim to mans egoic need of security through power/money....every system will be a victim to mans ego...
Spare the rod and u get trump
Mafia boss
cause you know...an old female hippy is who I want to take political advice on.
Username checks out
Thank you!