10:20 so let me get this straight. Highways destroyed many cities and small towns in America and destroyed the railroads and streetcar / tram system. However the programs that built those highways were federal work programs ("socialist" not really) That were used to help unemployed people so that they wouldn't become socialist. But the only way that people can make use of those new highways is by purchasing a extremely expensive capitalist product (a car). So the American poor built their own enslavement instead of staging a worker revolt because they were told communism and socialism is bad. This is suicide fuel
Lasseiz faire will never truly happen because one way or another either capital or labor or both will engage is some sort of violence as a means of gaining control or assets.
Laissez-faire is impossible on a global level nor can it even be maintained on a regional level. For it inevitably creates vacuums of power which result in monopolies who take the biggest share of the market and without regulation would with the monopoly of violence crush its opposition. Basically neoliberalism creates artificial Laissez-faire conditions, but borrows the state's power to enforce the world order of the capitalist class. They also socialize the losses with bailouts and privatize the gains.
@@neoliteralit’s actually even more simple than that from a Marxist perspective. Capital and by extension capitalists necessitate the state, because it’s the state’s monopoly on violence that enforces property rights. In other words, capitalism requires a nation state to function.
“The world’s ten wealthiest men doubled their fortunes in the first two years of the pandemic, as poverty and inequality soared.” Why a statement like this doesn’t leave more people seething with a desire for change is beyond me!Too many people have been brainwashed into thinking that they’re just one paycheque away from being multi-millionaire titans of industry; where the established tax loopholes will finally work for them.
@@wehonews you are the first person I have come across who sees this! I read the books several years ago and had to re read twice this last year. It's eerie!
@@e.m.francis6946 in other words it dosent actually create “more”. Plus that may only be in the country that’s attacked. Plus opportunity for new investment does not mean new investment occurs.
Why has the algorithm seemingly buried this excellent channel and its outstanding videos? I imagine you’ve said numerous things in your videos that both alienate any and all capitalist advertisers which I would imagine goes a long way both to your videos being demonetized, and your channel being all but ignored by the algorithm and not even suggested to someone like me until just two days ago. Good luck to you; the information is excellent and the arguments thought-provoking and compelling. Thanks.
My guess is that it's because the AI does not appreciate solutions that fail to fall in the neoconservative/neoliberal (Republican/Democratic) false dichotomy, and neither do Google's clients. They are the ones who had the benefit of collecting back earnings gained from strikes via collaboration, opening company towns etc. last century, and from giving clients "fair" wages via the illusion of keeping paycheks up with inflation as their assets continue to rapidly outstrip it.
During the pandemic DT increased the national debt 40%, printing $8 trillion, gifting $4.5 trillion to corporations as bailout money, also giving them tax cuts. Corporations have merged with government, donating millions to politicians.
The statement that "government is the problem" is to imply that "privatization is the solution." The Citizens United Decision is the affirmation of that corporations have achieved full citizenship and empowered corporations with a right to spend unlimited amounts of money to influence both the judicial and the legislative branches of government. The irony is the party of personal responsibility is the party of the Citizens United Decision. The courts' duplicity is that the immortal corporation is both an indistinguishable and unaccountability member of our society.
This is a false interpretation. As usual, people haven’t read mainstream economic theory and bash their idea of strawman economic theory. Ever since economic theory started to develop, people have thought about macroeconomics. The grand theory of economics, general equilibrium analysis, is an expression of Adam Smith’s point that prices and exchange create incentives for economy to adjust to developments and grow, creating social welfare and improvements in standard of living. People attack the strawman version of general equilibrium theory. Yes, even Austrians recognize that market economies don’t adjust to equilibrium immediately, although the idea of immediate adjustment from disequilibrium to equilibrium is a starting point in history of economic theory. Their attitude has always been that governments can’t fix disequilibrium because of how governments run. For practical examples, see Russia or North Korea. Keynes noted that because the price of labor is fixed in the short run, market economy cannot self-correct and a business cycle can turn a slowdown into a bust. Because the price of labor does not adjust to a slowdown, the quantity of labor, employment rate, adjusts downwards, weakening consumer demand, business momentum and investment, and leaving everybody worse off. The solution to adjusting out of this slump is by government creating investment and employment, so that workers get paid, have more to spend, and then this demand has a multiplier effect on output, meaning it improves business momentum and investment. What did Karl Marx say? He had this model based on older economists, who did not think about markets or general equilibrium as rigorously as later economists.
@@ulyanov17 He read Ricardo and had a wrong conclusion about the trend of distribution of income to labour and profits. His profecy that profits taking the majority of income distributed failed.
@@ulyanov17 Nonetheless, no economic system can overcome scarcity. To my mind, Marxists have this quirk thinking distribution of wealth and income would leave almost everybody better off. That’s not scarcity. The amount of money in an economic system influences prices. Governments can print out all the money they want to and distribute it, but it won’t create more welfare in the long run.
I love the productivity v. wages chart, it clearly shows how the average wages couln´t keep track with productivity after the departing from the gold standard in 1971. Companies base their profit in goods and services, meanwhile workers recieve their salarys in fiat currency.
Actually, this is a half truth. Foreign nations (not the US) was taken off the gold standard in 1971. FDR had taken the United States off the gold standard at home in the 1930’s. Knowing that really highlights how Breton Woods was tailor made for the US and planned US hegemony, just as FDR would have wanted.
just found your video. I hope the algorithm is kind to you. This video is excellent and deserves a wider audience. All of your videos look good. I will watch them all and suggest them to others.
Genuine question why does the end of the video take such a heavy pro-china stance? I mean I understand that china is directly challenging western hegemony but only through essentially capitalistic means. At the end of the day china’s bourgeois class will acts in the same way as the western elite class if given the chance. Viewing china as an ally in our “socialist” and “communist” struggle seems antithetical to the actual goals we have? Pls offer your perspectives and answers if im not getting smth !!
@@jangamecuberBut the state of which class?? Which class holds the real state power,dictates and regulates the policy? And which dominant mode of production is in motion in current China? U have to ask those questions as well
The big banks still have hundreds of trillions of Dollars in off balance sheet derivatives. We only papered over the crisis in 2008. Those derivatives should have been liquidated and banned
Love of money and power is sin Do you know Jesus Christ can set you free from sins and save you from hell today Jesus Christ is the only hope in this world no other gods will lead you to heaven There is no security or hope with out Jesus Christ in this world come and repent of all sins today Today is the day of salvation come to the loving savior Today repent and do not go to hell Come to Jesus Christ today Jesus Christ is only way to heaven Repent and follow him today seek his heart Jesus Christ can fill the emptiness he can fill the void Heaven and hell is real cone to the loving savior today Today is the day of salvation tomorrow might be to late come to the loving savior today Romans 6.23 For the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord. John 3:16-21 16 For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. 17 For God sent not his Son into the world to condemn the world; but that the world through him might be saved. 18 He that believeth on him is not condemned: but he that believeth not is condemned already, because he hath not believed in the name of the only begotten Son of God. 19 And this is the condemnation, that light is come into the world, and men loved darkness rather than light, because their deeds were evil. 20 For every one that doeth evil hateth the light, neither cometh to the light, lest his deeds should be reproved. 21 But he that doeth truth cometh to the light, that his deeds may be made manifest, that they are wrought in God. Mark 1.15 15 And saying, The time is fulfilled, and the kingdom of God is at hand: repent ye, and believe the gospel. 2 Peter 3:9 The Lord is not slack concerning his promise, as some men count slackness; but is longsuffering to us-ward, not willing that any should perish, but that all should come to repentance. Hebrews 11:6 6 But without faith it is impossible to please him: for he that cometh to God must believe that he is, and that he is a rewarder of them that diligently seek him. Jesus
and Clinton, who continued with trickle-down economics. Oddly enough, HW Bush lost because he didn't raise taxes, knowing it would hurt poor families. (Read My Lips, No New Taxes)
@@davidpauljonesjr6793In principle, “we, the people”, are indeed the government, inasmuch as we claim this Nation to be a democratic Federal republic. This is so even though the bourgeoisie insist that it is not-to the point of busting popular movements. Consequently, yes, Reagan was referring to the people as “the problem”. Clinton also was referring to the people when he would later say: “The era of big government is over.” As a neoliberal, he knew full well that his program was turning what popular political power remained over to Big Business. This is also the premise of the remarks he made in his recent “interview” with Capehart, in direct response to Sen. Sanders, to the effect that the people need to “respect” those such as himself. The tenor of those remarks is: ‘We neoliberals know better than you of the masses. Therefore, you need to stay in your place.’
As an artist…I can say that it’s better than TikTok, Netflix & Superhero movies being the source of brain rot. Theatre still gave us Death of a Salesman & a Raisin in the Sun etc…..it was WAY more “high brow” and socially conscious than “Love Island”…. (Still don’t like it at the expense of perpetuating, funding & exploiting mass genocides and world wide economic crisis, but still.)
@@KayxzTarot I’m not like against art, though the economies of distraction and emotional suppression in a world with increasing insecure attatchment rates coupled with economies of addiction and etc etc etc. Like I think in a way when they say burnout society, the gravest thing societies do that I find evil is steal a persons executive attention away that would prevent them from going through the ambiguity and VUCA environment that is life, it’s like steal that not only are families more dysregulated , but people just can’t even see the prision they are in
@@NotesNNotes There wasn’t a lot of less mess to sift through back in the day. Everything has its pros & cons, I’m personally not a fan of the over saturation. Yes, they have good things & you can learn a lot (hence why enjoy TH-cam bc of videos like these), but it’s finding a needle in a haystack. Most of it is absolute junk, particularly compared to earlier forms of entertainment.
0:14 I can’t help but notice the divergence in the lines on the graph from the BLS appears to correspond almost exactly with the year 1971, which is the year Nixon took the USA off the “gold standard” and the beginning of the end of the Bretton Woods system. Economist Michael Hudson marks this event as incredibly important to the further growth of the USA’s “Superimperialism” (as Hudson calls it). Any specific idea about the connection between these events in 1971 and the divergence of these lines? 29:00 Well … the settlement on petrodollars as a new gold standard kind of helps explain what happened next but not the rapid growth in productivity while wages remained stagnant. This still requires explanation; other than the sinister one that the GOP and economic conservatives simply lied and forced immense changes upon the US that everyone simply went along with. Interested and knowledgeable peoples’ comments welcome. Thanks. And thanks for the videos! Terrific.
These speakers Certainly do point out grievances many can relate to but as with any good salesman they dont necessarily offer the best solutions. Many of the problems noted by MMT and socialist/communists (all are a form of forced collectivism) do exist today. The extent of these problems is primarily related to a corruptable monetary system. One in which a group of people can create money from nothing....lending money they dont have in order to create money giving them the upper hand involving all negotiations from gov policy to wage negotiations with employers. This money printing is done by central banks and governments. The answer is money with a set amount of units that are infinitely divisable and laws preventing the lending of money they dont have (known as fractional reserve banking).....NOT gov controlled and manipulated money as proposed by collectivists (marxists, socialists, etc) and "capitalists" as this would be just the same, or worse, than the quasi private-public fiat monetary system seen in the West. This money must be agreed upon by all users of it. There is still the problem of how can people know how the system works without being experts and spending much time on the subject. Such as the case with bitcoin or any financial system....however bitcoin seems to be the best solution so far, with the exception of highly concentrated holders. But with a set fixed money supply, a balance (not perfect or unchanging, but ebb and flows as the balance of life and resources in nature) will arise. Allowing for competing business that cant be perpetually bought up from another business with printed money (loans) creating monopolistic industries. With more employers to choose from, employees will have more bargaining power over wages. Essentially a hard money system flips the current forced Fiat financial system 180. Insted of prices rising, you get declines. Instead of asking employer for a raise, they will have to ask you for a pay cut. Instead of shitty service from big box retailer or tech giant, there will be smaller companies rolling out the red carpet. Businesses will need to offer better service to customers in order to compete with each other. With real hard money, there will be much less need for government involvement. With the solutions proposed by communists/marxists/collectivists, a society of have and have nots will perpetuate just as much as in a banker money printing society (falsely called capitalist as its not based on capital but on debt/credit). Both of these will place individual liberty far behind any other priorities. Gov only for Life, liberty, and property (which includes hard money) is the basis of civilized society. But when groups/Government forcibly take and give (false philanthropy, while keeping a lot for themselves) then people riot to get "their share"... Then less and less productivity...
@@Richard-ki4nkgmYou are 100 percent correct. Very well put. We need organizations like the heritage foundation. If Bitcoin is used, we need a redistribution system for the concentrated holders. Also limit the bit miner's.
@@tylerthayer6673 forced redistribution is theft. Over time, in a hard money standard concentration of wealth will spread out. There will not and should not be equal wealth as circumatances and abilities are not equal. Don't know what you mean about miners. But the current issue with miners is concentration of miners within mining pools but it's a work in progress. Generally, any sudden drastic change from one system to another will cause huge disruption. Gradual is usually the best way.
Wasn't the "sinister" explanation essentially what the Powell memo covered? I would love to hear a logical and verifiable explanation for the bankrupting of the middle class and the rise of the Uber rich in this country. But the evidence is looking us right in the face just by the question itself. I have an aversion to conspiracy theories and the lazy thinking that leads to people believing in them, but this is one known conspiracy- collusion, or whatever you want to call it, that has physical evidence behind it and the economic record which perfectly fits with what was originally planned ( My only disagreement with how you described it is you left out the Democrats part in helping things along. Neoliberalism should get the credit it deserves.). The Think Tanks are still with us- coming up with wonderful ditties like Project 2025- something the majority of the public apparently wants to see implemented- at least, THAT'S what they voted for, whether they were aware of it or not. Plus, any "market forces"argument simply leads us back to the late 30's and FDR's solution to one of the problems with capitalism- making victims of the people it's supposed to be helping.
@@Richard-ki4nkgmWithout something that works as a social safety net, to prevent mass homelessness like the U.S. is facing right now, you CANNOT call that society civilized. Moreover, the current economic paradigm that businesses use of eternal growth is unsustainable. Resource scarcity is only beginning and already there is panic. A new paradigm will have to be created, or discovered, or however you wish to name the process. With mass animal species extinctions worldwide, the human race cannot continue to grow. Yes, I know that growth is slowing on it's own. It surprises me no one (that I've heard) has considered one of the most natural reasons for it- environmental balance. Populations that have grown at great rates and face overpopulation naturally cease popping out babies. Same as the opposite is true- in long periods of underpopulation women and men become more fertile and more babies are born. If we buck that natural trend and insist on expanding the human population because of business interests, which is partly what's happening (clearly xenophobia is playing a slightly bigger part than economics) then nature will step in (again) with more viral pandemics and other "natural" population lessening remedies.
Absolutely, this video shows the futility of trying to regulate capitalism. Like feudalism, it"s time capitalism be put into the dustin of history and we move on to a system based on real democracy and social equality.
That's a funny joke from a marxist who can't even run a broken autocratic system for 100 years before it patheticly collapses. Just because noliberalism/socialism has infected capitalistic and democratic societies doesn't mean those systems should be thrown out. We just need to get rid of the progressives and liberals to solve basically all our problems. Also feudalism lasted longer than any socialist form of government, so socialists somehow invented a form of government worse then "hey my dad was in charge so i should be too".
@@fredrickmansav6852 you don't "solve" problems by casting out progressives. It is those people (progs) who bring attention to the problems of capitalism like homelessness, crime rate, exploitation, discrimination, inequal wealth, etc. Casting out liberals and socialists won't solve the problem of capitalism you will simply silence people from bringing you bad news. Revolt will inevitably happen
I mean, I strongly despise many aspects of having full-on free-market capitalism, but I also don't think being a communist or leftist shouldn't entail full-state ownership of everything. Otherwise, it just becomes state capitalism, where the government basically runs the country as if it's a big business
"the futility of trying to regulate capitalism"- I absolutely guarantee that you've written that in a capitalist country, and I absolutely guarantee that there will be regulation for the private economy, in that country.
@@technoloverishwhich is why being communist implies shifting towards democratic control of the means of production by the working class, not by the state. Otherwise you’re right, it would only become a messy bureaucratic state capitalism. All power to the soviets.
Excellent analysis. However, as someone who has studied economics, you blur the lines between Austrian and Neoclassical economics. While they have much in common (worship of markets and capitalism), they are different schools of thought.
They don't worship markets. They just understand that markets are formed from the interactions of everyone, and contain information about people's choices and preferences: something that Communism has never done.
@@lochnessmunster1189 Disagree. Neoclassical economists, or at least the ones who are hardcore right libertarians, do worship markets. Non-neoclassical economists understand that markets contain information about consumers and producers. No one questions that. It’s the almost religious faith that markets will produce outcomes that are efficient and can solve just about any problem in society that separates the people I’m talking about and the level headed economists. Markets can certainly have positive features, like the relaying of information on consumer preferences, but they of course have limits, like what are called externalities. In particular, issues arise when there is great income inequality. With great income equality, consumer preferences will disproportionately reflect the preferences of those with the great wealth, who, not so coincidentally, tend to be the ones who have disproportionate control over production.
@@timc1604 No. I am largely a neoclassical economist but I don't worship markets at all. I understand their importance and significance but also understand externalities too. Income equality won't affect the markets as long as everyone gets richer. It's only if the poor get poorer, that the wealthy will actually have disproportionate influence. Regardless of this, there will always be certain markets (luxury cars, superyachts etc) in which the wealthiest will have a far-greater clout. But ultimately it doesn't matter; these markets aren't important to the goods and services needed by the rest of us.
@@lochnessmunster1189 well, you’re not the free market worshippers I was referring to (like Milton Friedman and Thomas Sowell). Poorer can still get wealthier despite income inequality but that doesn’t necessarily mean but it does make it more difficult.
@@timc1604 Right, I see what you mean now- cheers. It's true that Friedman and Sowell did champion the market a great deal, but in almost every case I'd say they had good points. Certainly when showing how badly governments usually run things.
Wow! Thank you so much for laying this all out and explaining it so well! I’ve been trying to catch up with my understanding of the reality of the US through a Marxist perspective since October. I’ve felt really foolish for not understanding before but accounts like this have really been such a helpful learning resource. Thank you ❤
October was a wake up call for a lot of people. For example, I didn’t even realize just to what extent the corporate media is willing to make bold faced lies all day every day, if it’s in the name of imperialism (was a kid in the lead up to Iraq). Never stop peeking behind the facade!
32:57 You are getting all of Chile’s history wrong. The privatised pension system was implemented in 1980, and Allende was not the one who created the old system, that was done during the 20’-40’
Interesting video. I'm a staunch new dealer and never delved into marxism that much but this intrigues me. I've read vaguely about cooperative ownership of companies which tbh sounds promising. Im still a new deal capitalist though, just open to new ideas, and definitely not a hardline neoliberal. It saddens me how much neoliberal economics has dominated the field. Thanks for showing me a new perspective to delve into.
I can't see how authoritarian capitalism, practiced in places like China and Singapore, can be allies to communism but I'd be happy to see your reasoning.
Totally agree. Having lived in China anyone who thinks it is a communist system is deluded. China's economic system is the most tooth and claw capitalism I've experienced anywhere in the world. I note that, so far, your excellent question, and challenge, has not been answered.
Similar vibes. Had me…until the ludicrous plug for china. Wow. Not a fan of dependence on Saudi or any foreign oil, but that’s not a reason to go full steam ahead with a pro China message. Still better than 99.9 % of content on the internet!
The Communist Party of China still controls the commanding heights of the economy, and the capitalist class is subservient to it. While it is undeniable that China has introduced capitalism as a vehicle for growth, it ultimately still maintains party rule - a contradiction that prevents (due to the risk to Party rule) the opening of China’s capital account and its ascension to the role of leader & leading currency of the global capitalist system. Instead, the Party is attempting to become self sufficient, address social inequality and environmental degradation, and promote the development of the global south. You can quibble with China’s strategy, but it is wrong to conflate its system with bourgeois rule (as exists in other regimes with state capitalist system such as the US or Singapore or Japan) because the economy is set up to maximize the production of commodities rather than the profit of the capitalists (which takes advantage of capitalism’s tendency toward overproduction to use as a progressive force) and the Party maintains control of the towering heights such that it can deploy capital or destroy capital regardless of the wishes of the capitalist class and instead in the interests of the working class. It remains to be seen if China’s approach will result in post-scarcity and a transition to a socialist model - but it would be naive to discount it because of a purist distaste for their approach.
Great work, subscribed I love that you give a lot of the video clips time to breathe, too many creators love the sound of their voice and will summarize the words of speakers (like the Eisenhower clip) instead of letting it roll
Now I'm late 2024 a home is nearly 7 years salary. We have a huge problem. Either late buyers go underwater and homes return to their realistic valuations or entire generations are shut out of home ownership and the classic method of wealth accumulation. Wall steers buying the float for now and manipulating market value, but no average income earner or smart person is biting, because the over valuations are obvious and impractical. It's just a poor bet to make. Greed put us in a pretty precarious position. Won't end well.
A second Bill of Rights should be raised in the Human Rights Day (as framed by Eleanor Roosevelt) observed by the United Nations Association chapters throughout the U.S. on December 10th. Economic rights are Human rights by Walden Bello and Anuradtha Mittal (Oakland Institute). Also, Development Reimagined. Watch out for Center for Global Development which occupies a whole block in Washington DC with Larry Summers as board president, an astroturf organization of neoliberal NGOs.
These are very good videos from a point of view, the Marxism guides are excellent. The problem is with the ideology when it goes past analysis. At the end of this video the exhortation to build a party that can lead the masses and the notion that China is the future both seem so false that it damages what are otherwise very insightful videos.
7:32 this is why you need hard money that is not devalued through "money printing ". It's called saving for a rainy day. When there is an economic downturn, savings is there to smooth the bumps. This in turn promotes responsible behavior, less over consumption, and less pollution/environment destruction. Is your goal to work just to work, or you work so you can then enjoy your work (farm then eat, build a house then rest, draw a picture then admire)?
That was a great watch until your opinion at the end about China. For American workers you were talking about benefits given to workers through New Deal. Let's see what China has given to its workers even through it is fastest growing country by GDP. What makes you think we socialist should ally with China? China is still a capitalist country participating in Global Capitalism. It has not lifted people from poverty (i-e 50% of China's population have monthly income of less than 140 USD). China doesn't provide 100% employment. China don't even give any social democratic policies like Free Education & Free Healthcare to its citizens let alone immigrants. It even censors their opinions if they criticize government. Just because China seems lesser of 2 evils now doesn't mean it can't become vicious in the future. The nature of Capitalism is anti-democratic, which makes it violent. Also about your point on China being "Peaceful Negotiater" 1. China also invaded Vietnam (read history) 2. China funded Afghanistan Mujahideen against the Socialist Government in Afghanistan (Soviet Union supported Afghanistan while China supported Pakistan and Far-right Mujahideen) I urge you to dig deeper on China and move above the theory of "Multi-polar world". The problem is Capitalism & Bourgeois which also control government. Chinese Communist Party is also dominated by Bourgeois. Learn more about Chinese working class conditions, which is actually harder to find information. "Workers of The world unite!"
I am a sinologist and a moderate on the PRC and the CCP. China is not socialist. Anybody who has lived in china can tell you that. even Americans realize that, because China is even more capitalistic than the USA. Ow you enjoy free roads? What about every single highway is a toll road, and you pay depending on how far you go. Real life example. I went from Beijing airport to my university in central Beijing. the toll road did cost 12RMB, and the total was 54. It was more than 20% of the cost. Entering the highway you get a ticket saying where you started, and then at the end you hand them your ticket and you get to know how much. The GPS in China can calculate the costs, so you know it in advance. People are paying for air purifiers so they can get some fresh air. Water boilers so they can drink water. 😒 Sure these are problems in the USA, but they USA does not claim to be socialist, nor care much about the American people. The CCP claims to be "the voice of the oppressed and working class comrades" no working class person has ever been a leader of China. The closest was in the Song Dynasty when a lower middle class man became the emperor and he stopped the corrupted that kept oppressing him, and instituted freedom of speech. That was the first and only time, where it was not illegal nor looked down upon to go against the leader. The Song ended 800 years ago. They also invented leisure time for the peasants due to new breakthroughs in agriculture, such as modern rice. 😅 So many peasants began to learn how to read and write. So we have diaries from peasants in the Song dynasty talking about their struggles and joys from 1000 years ago. 😊 To me, that is amazing. But that is beside the point. I am having real discussions with my Chinese friends on the topic of, is your life better under the capitalist system vs the first 2 years of Mao? Mao began to go crazy after the first 2 years. And it is amazing that all of his amazing reforms and ideas were all implemented within 2 years. Imagine if that kind of progress could be made in 2 years today. Free education, both primary and higher. Free Healthcare, including in the rural areas (barefoot doctors). Employment guarantee, housing guarantee, Food guarantee, freedom of assembly, freedom of speech, and so much more.
@ayaz372 Yes I was perplexed as well when he accused the the neo liberals of stoking Taiwanese and Ukrainian nationalism as a distraction ! Are you being paid to represent something?
Just getting started, but @5:50 you have Herbert Hoover erroneously referred to as John Vance Garner-- and that should actually be erroneously written as John Nance Garner. So what else is poorly researched in this thing?
My grandparents had a little medal and a form letter that came with it from FDR in a frame on top of the kitchen cabinet. My grandma who grew up in the Midwest during the depression, spoke of FDR with reverence reserved for him and god.
Very interesting and well presented. However, it’s very glib to conclude that opponents of capitalism should support the entirely undemocratic government of China. They are in no way concerned with the interests of ordinary people, they just want to hold on to the private personal power they currently have.
Agreed. Similarly, the presenter claims the USSR maintained 100% employment rate during the Great Depression era, but neglected to mention at all that the regime either committed or at the very least permitted the Holodomor between 1930 and 1933. So while unemployment percentages were kept low, millions simply starved to death. I fail to see how I can take the rest of the video seriously when he brushes this off under the euphemism that "the USSR faced its own challenges" ffs.
@@EarlofSedgewick It's always good to remember that the famine tragedy didn't hit just Ukraine. Ukraine wasn't the only victim of the chaotic time, but it is the only one to make it a very big deal and perceive it as a personal hate crime committed by the Soviet.
@@TwoSouthFarm it's a complicated topic of which details are crucial. Global shortages of wheat sent the price skyrocketing after having rock bottom prices due to oversaturation of the wheat market. Global prices go super high. Ukraine is less affected by drought that other places, but still has a significant drop in yield. Stalin (the Party) commanders all the grain anyways to feed central populations and stimulate the economy through trade. Other places do not do this. Ukraine has something like 3.9 million deaths from starvation, other places do not, especially not in North America despite 33% reduction in grain production over the decade. I fail to see why the Ukrainians should feel like this was just a bit of bad luck, and that everyone had it tough.
I also agree that the video's take deviated from a purely materialist analysis at the end, and touched on matters of opinion, concerning China. However, it's also completely dishonest to deem it an "entirely undemocratic" government. Sure, people do not elect the chairman of the CCP, but does that make it entirely undemocratic? Do you know how hard it is to reach that position, how many years it takes? The CCP has created the truest form of bureaucratic meritocracy that any nation has ever implemented - in most levels of the public machine, people find themselves there not only because they really wanted to, but really proved themselves worthy and capable, not because they spent $200 billion in advertisement, legal bribes and electoral rhetoricians. In fact, Chinese elections are the single largest ones in the world, more than 900 million participated in 2022. Direct elections mind you, no electoral college. Don't let yourself be fooled by the bourgeois system's illusion: two parties that tell the people they are diametrically apart, whilst governing exclusively for 1% of the population and their imperial necessities, is not the pinnacle of democratic processes. I highly recommend taking a look at Dongsheng News, a socialist Chinese media outlet, aimed at foreigners. They have an excellent video on China's political system: th-cam.com/video/ChFRnI7-QS4/w-d-xo.html
Great synopsis. I have been delving into the horror of ww1 a lot lately, something that I never really heard much about growing up. It’s worth noting how tight of a control the global oligarchs had on information early in the 20th century. Despite that control, socialism came to the forefront mainly among soldiers who had to endure and live in the mud and the blood.
in otherwords, if you are self sufficient and refuse to buy commodities, capitalism falls. if you are self sufficient and even take care of others, the government that made capitalism falls. if you take care of everyone and promote their futures - along with getting rid of anyone willing to stop you from doing so - fascism falls.
The democratic party & It's " New World🌎 Disorder " ideology syndrome conspiracy theory. Against capitalism agenda won't be beneficial to the planet🌎. Take a good look 👀 at the economic catastrophe in the once prosperous Venezuela-!!!😉
@@neoliteral the challenge is keeping fascists out, its take overs and co-opting. people dont naturally bias to fascism as some pit fall. theres instigators and co-optors who will lean things into antagonism for the sake of discord and profit. an educated civilian mass who understand the material conditions of different propositions from politicians are able to quell any force attempting to draw on those deviations. for example, the citizens of Venezuela a couple of months ago who were themselves stopping the US funded coup by driving out the militant antagonists.
Love the video, very informative for someone who only has an American high school understanding of this period in history lol do you not recognize that China has many fascist policies though? Which does run counter to what Marx believed about the necessity of the liberal framework to be able to move farther left?
i wouldn’t say the violence of capitalism resolves anything. it only perpetuates its own mediocrity. mediocrity is the word i would use for the violence of capitalism, and it suffers from its own mediocrity, and lashes out from its own self hatred. we all deserve better from ourselves and from each other. I don’t think people truly understand how incredible life could be if we can overcome this limitation
Chinese W. I think the PRC is on the right path. They have learned from mistakes of the past and will show the world an alternative still exists. All in good time. Incredible video.
"the overriding purpose of the new deal was to provide income and employment for workers" - no, it was to subsidise the capitalist economy with cheap labour. Automobile companies aren't profitable without good roads paid for by the public.
Actually it was to keep the pitchforks at bay and alleviate some of the desperation and anger of the working class. In order to save capitalism and avoid a workers revolution. The *method* of accomplishing that was to provide employment, income, etc.
@@NunyaB1105 that was one purpose, but the *overiding* one was to adapt to the new needs of capital accumulation. capitalists could not afford to invest in production/employ masses of people so the state stepped in, thereby enabling and cheapening production of equipment and infrastructure that capitalists need to purchase or use to function. The result was the same as any other 'form' of capitalism - a concentration of capital ownership into fewer hands. Read my book for extensive analysis (Socialism or Extinction by Ted Reese)
It's clear from the graph of US productivity and real wage income, that US workers have been shafted by unfettered capitalism and greedy corporate America since the mid 1970's regardless of the party in power. The US took advantage of being the only nation to have emerged unscathed by world war, with a much bolstered industrial and military base. Now the world has caught up and the US is in decline and has been living on debt. That decline is unstoppable as US indebtedness balloons and the BRICS nations become even more dominant in trade. Consequently, it is inevitable that it will lose its uni-polar hegemony, by when the whole US population will realise that it's been taken for a ride.
28:39 When I search Saudi Arabia and United States deal to sell oil in US dollars, it says there is no evidence, or no official agreement. Any references or articles links?
I read one report by the WSWS tha I cannot locate at the moment, that stated during the post war boom, Americans, who represent around 5% of the world's population, were consuming 50% of the world's commodities. The US was also producing 5 out every 6 motor vehicles and 30% of the world's steel. I was born in 1959, (at the end of the last ice age) and I vividly recall just about everything was stamped "Made In Japan" According to the American debt clock web site the median home price in 2000 was $166, 900. The median wage in 2000 is listed as $31,991 According to the same website the current medain home price is $405,000, while the median wage is $39, 799 Latest inequality figures for the US, The wealthiest 10% control 69% of all wealth...not surprising. However the bottom 50% now share just 2.43% Don't forget to vote blue 💙💙💙 before you starve to death
It should be noted taxation and the New Deal legislation were policies put forth by the Roosevelt administration, however most had to be written into law by Congress.
Woodrow Wilson was the most wicked man in American (political) history, but Nixon was the second-most. The chart at the first of the video says it all: not only did currency speculation rapidly **increase** as a result of depegging the dollar from gold, the "temporary" "90 day" (e.g. eternal) suspension Nixon enacted also allowed the recollection of hard-bartered wages through the subterfuge of "raises" merely matching inflation as their earnings continued rapidly outshining inflation. No company town necessary. It also rapidly accelerated the currency speculation it was supposed to end - there are videos of traders excitedly going about it the very next day, snickering. I don't agree with all the solution proposed, e.g. the dictatorship of the proletariat over the kulak, internal violent revolution, all of the bulk that caused problems in the USSR and China like mass price controls, government ownership of land leading to widespread criminal-government corruption, useless measures of productivity falsely inflating the effectiveness of the system e.g. the mile-ton measurement supposedly capturing the productivity of factories and the disbursement of product across the nation when people were just driving overloaded delivery trucks uselessly up and down roads near the trans-Siberian railroad and so on. But the problem has been correctly diagnosed.
It's crazy how every historical event can be mapped to a modern day problem with our society's fabric. We just voted to be "free" to be dumb and poor, yet somehow state control from liberalism feels to just be policing anything good.
An excellent informative bit of information here. Two critiques: 1) Its title prevents its ability to be widely accepted in the US, where conservative mindsets will reject it outright even if its contents would purport to lift their standard of living. 2) Its conclusion starting at 44:10, which I may rightly agree with, will further impede acceptance by the masses in the US. If it were otherwise disseminated as regular rhetoric without these two impediments, I could use this and reach a much greater audience. By far. All this said, in general, this is a great video. It hit on and confirmed many points which I have previously researched and compiled in the annals of my mind.
0:52 Fiat money is the foundational problem. These speakers Certainly do point out grievances many can relate to but as with any good salesman they dont necessarily offer the best solutions. Many of the problems noted by MMT and socialist/communists (all are a form of forced collectivism) do exist today. The extent of these problems is primarily related to a corruptable monetary system. One in which a group of people can create money from nothing....lending money they dont have in order to create money giving them the upper hand involving all negotiations from gov policy to wage negotiations with employers. This money printing is done by central banks and governments. The answer is money with a set amount of units that are infinitely divisable and laws preventing the lending of money they dont have (known as fractional reserve banking).....NOT gov controlled and manipulated money as proposed by collectivists (marxists, socialists, etc) and "capitalists" as this would be just the same, or worse, than the quasi private-public fiat monetary system seen in the West. This money must be agreed upon by all users of it. There is still the problem of how can people know how the system works without being experts and spending much time on the subject. Such as the case with bitcoin or any financial system....however bitcoin seems to be the best solution so far, with the exception of highly concentrated holders. But with a set fixed money supply, a balance (not perfect or unchanging, but ebb and flows as the balance of life and resources in nature) will arise. Allowing for competing business that cant be perpetually bought up from another business with printed money (loans) creating monopolistic industries. With more employers to choose from, employees will have more bargaining power over wages. Essentially a hard money system flips the current forced Fiat financial system 180. Insted of prices rising, you get declines. Instead of asking employer for a raise, they will have to ask you for a pay cut. Instead of shitty service from big box retailer or tech giant, there will be smaller companies rolling out the red carpet. Businesses will need to offer better service to customers in order to compete with each other. With real hard money, there will be much less need for government involvement. With the solutions proposed by communists/marxists/collectivists, a society of have and have nots will perpetuate just as much as in a banker money printing society (falsely called capitalist as its not based on capital but on debt/credit). Both of these will place individual liberty far behind any other priorities. Gov only for Life, liberty, and property (which includes hard money) is the basis of civilized society. But when groups/Government forcibly take and give (false philanthropy, while keeping a lot for themselves) then people riot to get "their share"... Then less and less productivity...
The wage stagnation is a direct correlation to the ending of the gold standard. After the US government was no longer bound by the gold standard it was politically incentivized to spend spend spend and thus print money which deflates its value. The issue of our spending and our debt will not be fixed until it becomes a crisis and it becomes politically advantageous to do so.
Idpol is neoliberalist-approved activism. Adding 32 hashtags to your identity with no mention of economic class is just hyper focused rugged individualism and is privileged as fuck.
2024 and a home (at least here in Canada) is no where near 5x the median income. I think you are using median household income which requires one LARGE caveat. In the mid 20'th century most homes were single income households, while today most households are multi income households. This fact alone needs to be addressed since simply working incurs costs to the worker (transportation, lost time at home, etc) that makes a single income homes have an economic advantage over multi income homes.
This makes sense from a Marxist view of the world but socialism doesn’t work, the soviets economic system wasn’t actually able to create a strong economy of any kind because workers couldn’t specialize, there was no idea of competition to create innovation (exactly the problem that America has right now), and lots or bureaucracy. The ideology of socialism is also flawed thinking capitalism is imperialist, big economies and strong militaries are. Now not all policies that are socialist leaning are bad nor all capitalist ones are bad, it just has to be taken in context. That’s just my thoughts based what I have learned over the past few years of learning about economics and geopolitics, I’d love to hear counter arguments to learn more.
These speakers Certainly do point out grievances many can relate to but as with any good salesman they dont necessarily offer the best solutions. Many of the problems noted by MMT and socialist/communists (all are a form of forced collectivism) do exist today. The extent of these problems is primarily related to a corruptable monetary system. One in which a group of people can create money from nothing....lending money they dont have in order to create money giving them the upper hand involving all negotiations from gov policy to wage negotiations with employers. This money printing is done by central banks and governments. The answer is money with a set amount of units that are infinitely divisable and laws preventing the lending of money they dont have (known as fractional reserve banking).....NOT gov controlled and manipulated money as proposed by collectivists (marxists, socialists, etc) and "capitalists" as this would be just the same, or worse, than the quasi private-public fiat monetary system seen in the West. This money must be agreed upon by all users of it. There is still the problem of how can people know how the system works without being experts and spending much time on the subject. Such as the case with bitcoin or any financial system....however bitcoin seems to be the best solution so far, with the exception of highly concentrated holders. But with a set fixed money supply, a balance (not perfect or unchanging, but ebb and flows as the balance of life and resources in nature) will arise. Allowing for competing business that cant be perpetually bought up from another business with printed money (loans) creating monopolistic industries. With more employers to choose from, employees will have more bargaining power over wages. Essentially a hard money system flips the current forced Fiat financial system 180. Insted of prices rising, you get declines. Instead of asking employer for a raise, they will have to ask you for a pay cut. Instead of shitty service from big box retailer or tech giant, there will be smaller companies rolling out the red carpet. Businesses will need to offer better service to customers in order to compete with each other. With real hard money, there will be much less need for government involvement. With the solutions proposed by communists/marxists/collectivists, a society of have and have nots will perpetuate just as much as in a banker money printing society (falsely called capitalist as its not based on capital but on debt/credit). Both of these will place individual liberty far behind any other priorities. Gov only for Life, liberty, and property (which includes hard money) is the basis of civilized society. But when groups/Government forcibly take and give (false philanthropy, while keeping a lot for themselves) then people riot to get "their share"... Then less and less productivity...
How socialism doesn't work if it worked in the USSR? I've been surrounded by Soviet people all my life and everything they tell proves that socialism worked. Brezhnev's boring and revisionism era was far better than what we have here now.
My POV is that I don't give a flying fuck about us traversing space. I want zero homeless before we even think about leaving this planet. Tldr: I'm okay with lowering ceiling if it means we raise the floor
@@piccolo1525 understand. But people often ask for a system to control many things not understanding how it would work...not to mention the complexities of how to solve each problem. There's no way to solve most problems by a 51 percent majority vote on all details. So that means there must be representative gov. This places an enormous amount of power in the hands of politicians....leading to back door deals, power grabs, etc. The best is to have a gov that only protects Life Liberty and Property...and all citizens must agree and understand this. Citizens need to stay vigilant because when any group is tasked with powerful roles it will be coopted by power hungry self centered people. People need to be responsible and should help those in need. But creating an authoritarian force will just be used against you and everyone else not at the top of that system.
Great video! Due one on HJR 192/ 1938 Erie Railroad case, Removal of Lawful money ushered in the Color of Law and the Courts of Equity which combined Civil and Criminal actions. American National/ State Citizen
A very good video. However, free trade would be good if the workers owned the means of production and land wasn't a commodity. Capitalism and state socialism both miss the mark. The problem isn't the market, it's property norms which put the land and means of production in the hands of the rich. Abolishing absentee property would end landlordism and allow the workers to directly control the means of production at the point of production (which most modern socialists agree should be the goal). From there, they can organize distribution as they please, which, theyd likely continue to buy and sell goods on the market. Instead of capitalists accumulating their wealth though, all the wealth generated by any given buisiness would go directly to the workers. You also wouldn't have landlords stealing everyone's income either. So, I think neither capitalism or communism quite get it right, but mutualism and other forms of market socialism come close.
10:20 so let me get this straight.
Highways destroyed many cities and small towns in America and destroyed the railroads and streetcar / tram system.
However the programs that built those highways were federal work programs ("socialist" not really)
That were used to help unemployed people so that they wouldn't become socialist.
But the only way that people can make use of those new highways is by purchasing a extremely expensive capitalist product (a car).
So the American poor built their own enslavement instead of staging a worker revolt because they were told communism and socialism is bad.
This is suicide fuel
@@matroid10 great interpretation.
Disassociating time
someone cooked here
You can also think about it as the government strategically investing to secure public stability and long-term profit
they TAXED THE SHT out of the rich
One lil thing, neoliberalism IS NOT lassiez faire, it requires so much state intervention to uphold the unnatural state of neoliberalism
Good point.
Lasseiz faire will never truly happen because one way or another either capital or labor or both will engage is some sort of violence as a means of gaining control or assets.
Laissez-faire is impossible on a global level nor can it even be maintained on a regional level. For it inevitably creates vacuums of power which result in monopolies who take the biggest share of the market and without regulation would with the monopoly of violence crush its opposition. Basically neoliberalism creates artificial Laissez-faire conditions, but borrows the state's power to enforce the world order of the capitalist class. They also socialize the losses with bailouts and privatize the gains.
@@neoliteralit’s actually even more simple than that from a Marxist perspective. Capital and by extension capitalists necessitate the state, because it’s the state’s monopoly on violence that enforces property rights. In other words, capitalism requires a nation state to function.
So are you suggesting that Social Darwinism is the best answer to solve economic problems? Because it isn't "unnatural"?
“The world’s ten wealthiest men doubled their fortunes in the first two years of the pandemic, as poverty and inequality soared.”
Why a statement like this doesn’t leave more people seething with a desire for change is beyond me!Too many people have been brainwashed into thinking that they’re just one paycheque away from being multi-millionaire titans of industry; where the established tax loopholes will finally work for them.
This, too, shall pass. Read Octavia Butler's Parable of the Sowers and the Parable of the Talents -
@@wehonewsso eerie…im reading parable of the sower right now
May not be true. I would like to see a list of these 10 men and an explanation of what assets appreciated and what income accrued to these persons.
There's a saying: "Americans are just temporarily embarrassed millionaires"
@@wehonews you are the first person I have come across who sees this! I read the books several years ago and had to re read twice this last year. It's eerie!
War does not stimulate the economy, the stimulus spending they do at that time is what stimulate the economy. We are a war clan in suites.
Semantics.
War destroys surplus laborers and destroys old forms of capital investment which makes way for new investment.
@@e.m.francis6946 our societies are based on insure general y and counter insurgency design thinking strategies and tactics.
@@e.m.francis6946 in other words it dosent actually create “more”. Plus that may only be in the country that’s attacked. Plus opportunity for new investment does not mean new investment occurs.
Why has the algorithm seemingly buried this excellent channel and its outstanding videos? I imagine you’ve said numerous things in your videos that both alienate any and all capitalist advertisers which I would imagine goes a long way both to your videos being demonetized, and your channel being all but ignored by the algorithm and not even suggested to someone like me until just two days ago.
Good luck to you; the information is excellent and the arguments thought-provoking and compelling.
Thanks.
My guess is that it's because the AI does not appreciate solutions that fail to fall in the neoconservative/neoliberal (Republican/Democratic) false dichotomy, and neither do Google's clients. They are the ones who had the benefit of collecting back earnings gained from strikes via collaboration, opening company towns etc. last century, and from giving clients "fair" wages via the illusion of keeping paycheks up with inflation as their assets continue to rapidly outstrip it.
Are we on a list now for watching?😂😂
@@dong7598Yes.
Any algorithm is against us.
Or maybe it got demonetized for being Chinese propaganda/disinformation...
During the pandemic DT increased the national debt 40%, printing $8 trillion, gifting $4.5 trillion to corporations as bailout money, also giving them tax cuts. Corporations have merged with government, donating millions to politicians.
The statement that "government is the problem" is to imply that "privatization is the solution."
The Citizens United Decision is the affirmation of that corporations have achieved full citizenship and empowered corporations with a right to spend unlimited amounts of money to influence both the judicial and the legislative branches of government. The irony is the party of personal responsibility is the party of the Citizens United Decision.
The courts' duplicity is that the immortal corporation is both an indistinguishable and unaccountability member of our society.
Your not real great at math are you? And Biden added even more to the debt than Trump did.
just find your channel recently, your class and dialectical analysis is spot on, good job man
Have a look at the Falling Rate of Profit: one of Marx's falsehoods.
7:54 Gotta love the brilliance of burgeois economists rediscovering things Marx observed decades prior😂
This is a false interpretation. As usual, people haven’t read mainstream economic theory and bash their idea of strawman economic theory.
Ever since economic theory started to develop, people have thought about macroeconomics. The grand theory of economics, general equilibrium analysis, is an expression of Adam Smith’s point that prices and exchange create incentives for economy to adjust to developments and grow, creating social welfare and improvements in standard of living.
People attack the strawman version of general equilibrium theory. Yes, even Austrians recognize that market economies don’t adjust to equilibrium immediately, although the idea of immediate adjustment from disequilibrium to equilibrium is a starting point in history of economic theory. Their attitude has always been that governments can’t fix disequilibrium because of how governments run. For practical examples, see Russia or North Korea.
Keynes noted that because the price of labor is fixed in the short run, market economy cannot self-correct and a business cycle can turn a slowdown into a bust. Because the price of labor does not adjust to a slowdown, the quantity of labor, employment rate, adjusts downwards, weakening consumer demand, business momentum and investment, and leaving everybody worse off. The solution to adjusting out of this slump is by government creating investment and employment, so that workers get paid, have more to spend, and then this demand has a multiplier effect on output, meaning it improves business momentum and investment.
What did Karl Marx say? He had this model based on older economists, who did not think about markets or general equilibrium as rigorously as later economists.
cooperative-individualism.org/keynes-john-maynard_a-self-adjusting-economic-system-1963-autumn.pdf
@@sakarikaristo4976 well, you clearly don't know Marx then 🤣
@@ulyanov17 He read Ricardo and had a wrong conclusion about the trend of distribution of income to labour and profits. His profecy that profits taking the majority of income distributed failed.
@@ulyanov17 Nonetheless, no economic system can overcome scarcity. To my mind, Marxists have this quirk thinking distribution of wealth and income would leave almost everybody better off. That’s not scarcity. The amount of money in an economic system influences prices. Governments can print out all the money they want to and distribute it, but it won’t create more welfare in the long run.
legit the best video ive seen in like 2 years
I love the productivity v. wages chart, it clearly shows how the average wages couln´t keep track with productivity after the departing from the gold standard in 1971. Companies base their profit in goods and services, meanwhile workers recieve their salarys in fiat currency.
Actually, this is a half truth. Foreign nations (not the US) was taken off the gold standard in 1971. FDR had taken the United States off the gold standard at home in the 1930’s. Knowing that really highlights how Breton Woods was tailor made for the US and planned US hegemony, just as FDR would have wanted.
Again, not about Fiat currency, but about Reagan and its trikle down economics
@@dinamosflams Really? Here's a pop quiz for you...which of the following is the highest number A.) 95 B.) 113 C.) 7700
just found your video. I hope the algorithm is kind to you. This video is excellent and deserves a wider audience. All of your videos look good. I will watch them all and suggest them to others.
Genuine question why does the end of the video take such a heavy pro-china stance? I mean I understand that china is directly challenging western hegemony but only through essentially capitalistic means. At the end of the day china’s bourgeois class will acts in the same way as the western elite class if given the chance. Viewing china as an ally in our “socialist” and “communist” struggle seems antithetical to the actual goals we have? Pls offer your perspectives and answers if im not getting smth !!
Do you watch Geopolitical Economy Report by Ben Norton?
I think it's good that China's bourgeois works for the government and not the other way around like in the US!
In the west, the state is subservient to capital, while in China, capital is subservient to the state
I hope these comments educated you.
@@jangamecuberBut the state of which class?? Which class holds the real state power,dictates and regulates the policy? And which dominant mode of production is in motion in current China? U have to ask those questions as well
The big banks still have hundreds of trillions of Dollars in off balance sheet derivatives. We only papered over the crisis in 2008. Those derivatives should have been liquidated and banned
Love of money and power is sin
Do you know Jesus Christ can set you free from sins and save you from hell today
Jesus Christ is the only hope in this world no other gods will lead you to heaven
There is no security or hope with out Jesus Christ in this world come and repent of all sins today
Today is the day of salvation come to the loving savior Today repent and do not go to hell
Come to Jesus Christ today
Jesus Christ is only way to heaven
Repent and follow him today seek his heart Jesus Christ can fill the emptiness he can fill the void
Heaven and hell is real cone to the loving savior today
Today is the day of salvation tomorrow might be to late come to the loving savior today
Romans 6.23
For the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord.
John 3:16-21
16 For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. 17 For God sent not his Son into the world to condemn the world; but that the world through him might be saved. 18 He that believeth on him is not condemned: but he that believeth not is condemned already, because he hath not believed in the name of the only begotten Son of God. 19 And this is the condemnation, that light is come into the world, and men loved darkness rather than light, because their deeds were evil. 20 For every one that doeth evil hateth the light, neither cometh to the light, lest his deeds should be reproved. 21 But he that doeth truth cometh to the light, that his deeds may be made manifest, that they are wrought in God.
Mark 1.15
15 And saying, The time is fulfilled, and the kingdom of God is at hand: repent ye, and believe the gospel.
2 Peter 3:9
The Lord is not slack concerning his promise, as some men count slackness; but is longsuffering to us-ward, not willing that any should perish, but that all should come to repentance.
Hebrews 11:6
6 But without faith it is impossible to please him: for he that cometh to God must believe that he is, and that he is a rewarder of them that diligently seek him.
Jesus
Reagan ruined everything. 😢
Notice how the disparity between wages & corporate profits increases after Ronald Reagan & Margaret Thatcher got into office.
Reagan started as a New Deal Democrat...then he changed into a useful idiot for the rich.
and Clinton, who continued with trickle-down economics. Oddly enough, HW Bush lost because he didn't raise taxes, knowing it would hurt poor families. (Read My Lips, No New Taxes)
Reagan said "government is the problem", did he mean that we the people is the government?
@@davidpauljonesjr6793In principle, “we, the people”, are indeed the government, inasmuch as we claim this Nation to be a democratic Federal republic. This is so even though the bourgeoisie insist that it is not-to the point of busting popular movements. Consequently, yes, Reagan was referring to the people as “the problem”.
Clinton also was referring to the people when he would later say: “The era of big government is over.” As a neoliberal, he knew full well that his program was turning what popular political power remained over to Big Business. This is also the premise of the remarks he made in his recent “interview” with Capehart, in direct response to Sen. Sanders, to the effect that the people need to “respect” those such as himself. The tenor of those remarks is: ‘We neoliberals know better than you of the masses. Therefore, you need to stay in your place.’
The fact the goverment expanded theater and arts as a way to prevent us from learning about better systems is scary, it’s the bread and circus.
As an artist…I can say that it’s better than TikTok, Netflix & Superhero movies being the source of brain rot.
Theatre still gave us Death of a Salesman & a Raisin in the Sun etc…..it was WAY more “high brow” and socially conscious than “Love Island”….
(Still don’t like it at the expense of perpetuating, funding & exploiting mass genocides and world wide economic crisis, but still.)
@@KayxzTarot I’m not like against art, though the economies of distraction and emotional suppression in a world with increasing insecure attatchment rates coupled with economies of addiction and etc etc etc. Like I think in a way when they say burnout society, the gravest thing societies do that I find evil is steal a persons executive attention away that would prevent them from going through the ambiguity and VUCA environment that is life, it’s like steal that not only are families more dysregulated , but people just can’t even see the prision they are in
@@KayxzTarot people also learn about things from those platforms though, it's not all bad
@@NotesNNotes There wasn’t a lot of less mess to sift through back in the day.
Everything has its pros & cons, I’m personally not a fan of the over saturation.
Yes, they have good things & you can learn a lot (hence why enjoy TH-cam bc of videos like these), but it’s finding a needle in a haystack. Most of it is absolute junk, particularly compared to earlier forms of entertainment.
They didn’t, and we’re being intentionally dumbed down because the far eft are in charge
0:14 I can’t help but notice the divergence in the lines on the graph from the BLS appears to correspond almost exactly with the year 1971, which is the year Nixon took the USA off the “gold standard” and the beginning of the end of the Bretton Woods system. Economist Michael Hudson marks this event as incredibly important to the further growth of the USA’s “Superimperialism” (as Hudson calls it).
Any specific idea about the connection between these events in 1971 and the divergence of these lines?
29:00 Well … the settlement on petrodollars as a new gold standard kind of helps explain what happened next but not the rapid growth in productivity while wages remained stagnant. This still requires explanation; other than the sinister one that the GOP and economic conservatives simply lied and forced immense changes upon the US that everyone simply went along with.
Interested and knowledgeable peoples’ comments welcome. Thanks. And thanks for the videos! Terrific.
These speakers Certainly do point out grievances many can relate to but as with any good salesman they dont necessarily offer the best solutions.
Many of the problems noted by MMT and socialist/communists (all are a form of forced collectivism) do exist today. The extent of these problems is primarily related to a corruptable monetary system. One in which a group of people can create money from nothing....lending money they dont have in order to create money giving them the upper hand involving all negotiations from gov policy to wage negotiations with employers. This money printing is done by central banks and governments. The answer is money with a set amount of units that are infinitely divisable and laws preventing the lending of money they dont have (known as fractional reserve banking).....NOT gov controlled and manipulated money as proposed by collectivists (marxists, socialists, etc) and "capitalists" as this would be just the same, or worse, than the quasi private-public fiat monetary system seen in the West.
This money must be agreed upon by all users of it. There is still the problem of how can people know how the system works without being experts and spending much time on the subject. Such as the case with bitcoin or any financial system....however bitcoin seems to be the best solution so far, with the exception of highly concentrated holders. But with a set fixed money supply, a balance (not perfect or unchanging, but ebb and flows as the balance of life and resources in nature) will arise. Allowing for competing business that cant be perpetually bought up from another business with printed money (loans) creating monopolistic industries. With more employers to choose from, employees will have more bargaining power over wages. Essentially a hard money system flips the current forced Fiat financial system 180. Insted of prices rising, you get declines. Instead of asking employer for a raise, they will have to ask you for a pay cut. Instead of shitty service from big box retailer or tech giant, there will be smaller companies rolling out the red carpet. Businesses will need to offer better service to customers in order to compete with each other. With real hard money, there will be much less need for government involvement.
With the solutions proposed by communists/marxists/collectivists, a society of have and have nots will perpetuate just as much as in a banker money printing society (falsely called capitalist as its not based on capital but on debt/credit). Both of these will place individual liberty far behind any other priorities.
Gov only for Life, liberty, and property (which includes hard money) is the basis of civilized society. But when groups/Government forcibly take and give (false philanthropy, while keeping a lot for themselves) then people riot to get "their share"... Then less and less productivity...
@@Richard-ki4nkgmYou are 100 percent correct. Very well put. We need organizations like the heritage foundation. If Bitcoin is used, we need a redistribution system for the concentrated holders. Also limit the bit miner's.
@@tylerthayer6673 forced redistribution is theft. Over time, in a hard money standard concentration of wealth will spread out. There will not and should not be equal wealth as circumatances and abilities are not equal.
Don't know what you mean about miners. But the current issue with miners is concentration of miners within mining pools but it's a work in progress.
Generally, any sudden drastic change from one system to another will cause huge disruption. Gradual is usually the best way.
Wasn't the "sinister" explanation essentially what the Powell memo covered?
I would love to hear a logical and verifiable explanation for the bankrupting of the middle class and the rise of the Uber rich in this country.
But the evidence is looking us right in the face just by the question itself.
I have an aversion to conspiracy theories and the lazy thinking that leads to people believing in them, but this is one known conspiracy- collusion, or whatever you want to call it, that has physical evidence behind it and the economic record which perfectly fits with what was originally planned ( My only disagreement with how you described it is you left out the Democrats part in helping things along. Neoliberalism should get the credit it deserves.).
The Think Tanks are still with us- coming up with wonderful ditties like Project 2025- something the majority of the public apparently wants to see implemented- at least, THAT'S what they voted for, whether they were aware of it or not.
Plus, any "market forces"argument simply leads us back to the late 30's and FDR's solution to one of the problems with capitalism- making victims of the people it's supposed to be helping.
@@Richard-ki4nkgmWithout something that works as a social safety net, to prevent mass homelessness like the U.S. is facing right now, you CANNOT call that society civilized.
Moreover, the current economic paradigm that businesses use of eternal growth is unsustainable. Resource scarcity is only beginning and already there is panic.
A new paradigm will have to be created, or discovered, or however you wish to name the process.
With mass animal species extinctions worldwide, the human race cannot continue to grow.
Yes, I know that growth is slowing on it's own. It surprises me no one (that I've heard) has considered one of the most natural reasons for it- environmental balance. Populations that have grown at great rates and face overpopulation naturally cease popping out babies.
Same as the opposite is true- in long periods of underpopulation women and men become more fertile and more babies are born.
If we buck that natural trend and insist on expanding the human population because of business interests, which is partly what's happening (clearly xenophobia is playing a slightly bigger part than economics) then nature will step in (again) with more viral pandemics and other "natural" population lessening remedies.
BEST VIDEO I HAVE SEEN IN YEARS. THANK YOU SO MUCH
This video is absolutely amazing in form and content and I’m so glad I found it.
Absolutely, this video shows the futility of trying to regulate capitalism. Like feudalism, it"s time capitalism be put into the dustin of history and we move on to a system based on real democracy and social equality.
That's a funny joke from a marxist who can't even run a broken autocratic system for 100 years before it patheticly collapses. Just because noliberalism/socialism has infected capitalistic and democratic societies doesn't mean those systems should be thrown out. We just need to get rid of the progressives and liberals to solve basically all our problems. Also feudalism lasted longer than any socialist form of government, so socialists somehow invented a form of government worse then "hey my dad was in charge so i should be too".
@@fredrickmansav6852 you don't "solve" problems by casting out progressives. It is those people (progs) who bring attention to the problems of capitalism like homelessness, crime rate, exploitation, discrimination, inequal wealth, etc. Casting out liberals and socialists won't solve the problem of capitalism you will simply silence people from bringing you bad news. Revolt will inevitably happen
I mean, I strongly despise many aspects of having full-on free-market capitalism, but I also don't think being a communist or leftist shouldn't entail full-state ownership of everything. Otherwise, it just becomes state capitalism, where the government basically runs the country as if it's a big business
"the futility of trying to regulate capitalism"- I absolutely guarantee that you've written that in a capitalist country, and I absolutely guarantee that there will be regulation for the private economy, in that country.
@@technoloverishwhich is why being communist implies shifting towards democratic control of the means of production by the working class, not by the state. Otherwise you’re right, it would only become a messy bureaucratic state capitalism. All power to the soviets.
Excellent analysis. However, as someone who has studied economics, you blur the lines between Austrian and Neoclassical economics. While they have much in common (worship of markets and capitalism), they are different schools of thought.
They don't worship markets. They just understand that markets are formed from the interactions of everyone, and contain information about people's choices and preferences: something that Communism has never done.
@@lochnessmunster1189 Disagree. Neoclassical economists, or at least the ones who are hardcore right libertarians, do worship markets. Non-neoclassical economists understand that markets contain information about consumers and producers. No one questions that. It’s the almost religious faith that markets will produce outcomes that are efficient and can solve just about any problem in society that separates the people I’m talking about and the level headed economists. Markets can certainly have positive features, like the relaying of information on consumer preferences, but they of course have limits, like what are called externalities. In particular, issues arise when there is great income inequality. With great income equality, consumer preferences will disproportionately reflect the preferences of those with the great wealth, who, not so coincidentally, tend to be the ones who have disproportionate control over production.
@@timc1604 No. I am largely a neoclassical economist but I don't worship markets at all. I understand their importance and significance but also understand externalities too.
Income equality won't affect the markets as long as everyone gets richer. It's only if the poor get poorer, that the wealthy will actually have disproportionate influence.
Regardless of this, there will always be certain markets (luxury cars, superyachts etc) in which the wealthiest will have a far-greater clout. But ultimately it doesn't matter; these markets aren't important to the goods and services needed by the rest of us.
@@lochnessmunster1189 well, you’re not the free market worshippers I was referring to (like Milton Friedman and Thomas Sowell).
Poorer can still get wealthier despite income inequality but that doesn’t necessarily mean but it does make it more difficult.
@@timc1604 Right, I see what you mean now- cheers. It's true that Friedman and Sowell did champion the market a great deal, but in almost every case I'd say they had good points. Certainly when showing how badly governments usually run things.
Wow! Thank you so much for laying this all out and explaining it so well! I’ve been trying to catch up with my understanding of the reality of the US through a Marxist perspective since October. I’ve felt really foolish for not understanding before but accounts like this have really been such a helpful learning resource. Thank you ❤
October was a wake up call for a lot of people. For example, I didn’t even realize just to what extent the corporate media is willing to make bold faced lies all day every day, if it’s in the name of imperialism (was a kid in the lead up to Iraq). Never stop peeking behind the facade!
32:57 You are getting all of Chile’s history wrong. The privatised pension system was implemented in 1980, and Allende was not the one who created the old system, that was done during the 20’-40’
Well presented, well produced. Well done!
I used clips from this video to teach the Great Depression to my history class today. keep up the great work!
Keep up with the good work!!! American needs to be educated!!! Awaken!!!
Your videos are amazing man !
Interesting video. I'm a staunch new dealer and never delved into marxism that much but this intrigues me. I've read vaguely about cooperative ownership of companies which tbh sounds promising. Im still a new deal capitalist though, just open to new ideas, and definitely not a hardline neoliberal. It saddens me how much neoliberal economics has dominated the field. Thanks for showing me a new perspective to delve into.
I can't see how authoritarian capitalism, practiced in places like China and Singapore, can be allies to communism but I'd be happy to see your reasoning.
Totally agree. Having lived in China anyone who thinks it is a communist system is deluded.
China's economic system is the most tooth and claw capitalism I've experienced anywhere in the world.
I note that, so far, your excellent question, and challenge, has not been answered.
Similar vibes. Had me…until the ludicrous plug for china. Wow. Not a fan of dependence on Saudi or any foreign oil, but that’s not a reason to go full steam ahead with a pro China message.
Still better than 99.9 % of content on the internet!
The Communist Party of China still controls the commanding heights of the economy, and the capitalist class is subservient to it. While it is undeniable that China has introduced capitalism as a vehicle for growth, it ultimately still maintains party rule - a contradiction that prevents (due to the risk to Party rule) the opening of China’s capital account and its ascension to the role of leader & leading currency of the global capitalist system. Instead, the Party is attempting to become self sufficient, address social inequality and environmental degradation, and promote the development of the global south. You can quibble with China’s strategy, but it is wrong to conflate its system with bourgeois rule (as exists in other regimes with state capitalist system such as the US or Singapore or Japan) because the economy is set up to maximize the production of commodities rather than the profit of the capitalists (which takes advantage of capitalism’s tendency toward overproduction to use as a progressive force) and the Party maintains control of the towering heights such that it can deploy capital or destroy capital regardless of the wishes of the capitalist class and instead in the interests of the working class. It remains to be seen if China’s approach will result in post-scarcity and a transition to a socialist model - but it would be naive to discount it because of a purist distaste for their approach.
@@samz1950best comment on this thread.
@@samz1950 NOPE.
Awesome video, thank you for putting this together!
Great work, subscribed
I love that you give a lot of the video clips time to breathe, too many creators love the sound of their voice and will summarize the words of speakers (like the Eisenhower clip) instead of letting it roll
Your writing is both patient and concise, a clear sign of control
Now I'm late 2024 a home is nearly 7 years salary. We have a huge problem. Either late buyers go underwater and homes return to their realistic valuations or entire generations are shut out of home ownership and the classic method of wealth accumulation. Wall steers buying the float for now and manipulating market value, but no average income earner or smart person is biting, because the over valuations are obvious and impractical. It's just a poor bet to make. Greed put us in a pretty precarious position. Won't end well.
Depression incoming. Hopefully we get FDR 2 and a second bill of rights this time
But I'm hoping to avoid the world war this time around...
You’ve given me so much content to binge while working, thank you for this!
A second Bill of Rights should be raised in the Human Rights Day (as framed by Eleanor Roosevelt) observed by the United Nations Association chapters throughout the U.S. on December 10th. Economic rights are Human rights by Walden Bello and Anuradtha Mittal (Oakland Institute). Also, Development Reimagined. Watch out for Center for Global Development which occupies a whole block in Washington DC with Larry Summers as board president, an astroturf organization of neoliberal NGOs.
Great video! I'm reading the shock doctrine and the east is still red and both books talk about this.
We need to pick up the fight for that 2nd Bill of Rights. the re-emergence of Technocracy should be included in this presentation.
I khew about all that but you managed to set all facts in order with a dialectical approach... Excellent.
These are very good videos from a point of view, the Marxism guides are excellent. The problem is with the ideology when it goes past analysis. At the end of this video the exhortation to build a party that can lead the masses and the notion that China is the future both seem so false that it damages what are otherwise very insightful videos.
7:32 this is why you need hard money that is not devalued through "money printing ". It's called saving for a rainy day. When there is an economic downturn, savings is there to smooth the bumps. This in turn promotes responsible behavior, less over consumption, and less pollution/environment destruction.
Is your goal to work just to work, or you work so you can then enjoy your work (farm then eat, build a house then rest, draw a picture then admire)?
I’m hard
This might be your best video yet excellent work
Thanks so much. Means a lot coming from my OG subs.
This video is perfect. It’s comprehensive and concise. Definitely subscribing I hope you keep making more videos.
Until you realize the whole thing is a shill for Chinese propaganda...😂😂😂
That was a great watch until your opinion at the end about China. For American workers you were talking about benefits given to workers through New Deal. Let's see what China has given to its workers even through it is fastest growing country by GDP.
What makes you think we socialist should ally with China? China is still a capitalist country participating in Global Capitalism. It has not lifted people from poverty (i-e 50% of China's population have monthly income of less than 140 USD). China doesn't provide 100% employment. China don't even give any social democratic policies like Free Education & Free Healthcare to its citizens let alone immigrants. It even censors their opinions if they criticize government.
Just because China seems lesser of 2 evils now doesn't mean it can't become vicious in the future. The nature of Capitalism is anti-democratic, which makes it violent.
Also about your point on China being "Peaceful Negotiater"
1. China also invaded Vietnam (read history)
2. China funded Afghanistan Mujahideen against the Socialist Government in Afghanistan (Soviet Union supported Afghanistan while China supported Pakistan and Far-right Mujahideen)
I urge you to dig deeper on China and move above the theory of "Multi-polar world". The problem is Capitalism & Bourgeois which also control government. Chinese Communist Party is also dominated by Bourgeois. Learn more about Chinese working class conditions, which is actually harder to find information.
"Workers of The world unite!"
I am a sinologist and a moderate on the PRC and the CCP.
China is not socialist. Anybody who has lived in china can tell you that. even Americans realize that, because China is even more capitalistic than the USA. Ow you enjoy free roads? What about every single highway is a toll road, and you pay depending on how far you go.
Real life example. I went from Beijing airport to my university in central Beijing. the toll road did cost 12RMB, and the total was 54. It was more than 20% of the cost. Entering the highway you get a ticket saying where you started, and then at the end you hand them your ticket and you get to know how much. The GPS in China can calculate the costs, so you know it in advance.
People are paying for air purifiers so they can get some fresh air. Water boilers so they can drink water. 😒 Sure these are problems in the USA, but they USA does not claim to be socialist, nor care much about the American people. The CCP claims to be "the voice of the oppressed and working class comrades" no working class person has ever been a leader of China. The closest was in the Song Dynasty when a lower middle class man became the emperor and he stopped the corrupted that kept oppressing him, and instituted freedom of speech. That was the first and only time, where it was not illegal nor looked down upon to go against the leader. The Song ended 800 years ago. They also invented leisure time for the peasants due to new breakthroughs in agriculture, such as modern rice. 😅 So many peasants began to learn how to read and write. So we have diaries from peasants in the Song dynasty talking about their struggles and joys from 1000 years ago. 😊 To me, that is amazing.
But that is beside the point.
I am having real discussions with my Chinese friends on the topic of, is your life better under the capitalist system vs the first 2 years of Mao?
Mao began to go crazy after the first 2 years. And it is amazing that all of his amazing reforms and ideas were all implemented within 2 years. Imagine if that kind of progress could be made in 2 years today. Free education, both primary and higher. Free Healthcare, including in the rural areas (barefoot doctors). Employment guarantee, housing guarantee, Food guarantee, freedom of assembly, freedom of speech, and so much more.
@ayaz372 Yes I was perplexed as well when he accused the the neo liberals of stoking Taiwanese and Ukrainian nationalism as a distraction ! Are you being paid to represent something?
Thank you comrade! Are you in the RCI? If not you should be!
@@taiwanisacountry An urgent question is: What is it that sabotages these promising beginnings????
@@dmkuchins6646 that power corrupts. And that absolutely power corrupts absolutely. I am not sure why you need me to tell you that.
Just getting started, but @5:50 you have Herbert Hoover erroneously referred to as John Vance Garner-- and that should actually be erroneously written as John Nance Garner. So what else is poorly researched in this thing?
Thanks.
What was that song during the intro, I loved it!!
The Vox intro song lol
Great video! Glad youtube recommended your channel to me. It’s rare that youtube recommends anything worth watching.
My grandparents had a little medal and a form letter that came with it from FDR in a frame on top of the kitchen cabinet. My grandma who grew up in the Midwest during the depression, spoke of FDR with reverence reserved for him and god.
Just discovered your channel, excellent video. I’m newly subscribed!
This documentary is dedicated to Professor Richard D Wolff. Excellent piece of work. Thank you.
Ever read Glen Cook’s Instrumentalities of the Night?
Very interesting and well presented. However, it’s very glib to conclude that opponents of capitalism should support the entirely undemocratic government of China. They are in no way concerned with the interests of ordinary people, they just want to hold on to the private personal power they currently have.
Agreed. Similarly, the presenter claims the USSR maintained 100% employment rate during the Great Depression era, but neglected to mention at all that the regime either committed or at the very least permitted the Holodomor between 1930 and 1933. So while unemployment percentages were kept low, millions simply starved to death. I fail to see how I can take the rest of the video seriously when he brushes this off under the euphemism that "the USSR faced its own challenges" ffs.
@@EarlofSedgewick It's always good to remember that the famine tragedy didn't hit just Ukraine. Ukraine wasn't the only victim of the chaotic time, but it is the only one to make it a very big deal and perceive it as a personal hate crime committed by the Soviet.
@@TwoSouthFarm it's a complicated topic of which details are crucial. Global shortages of wheat sent the price skyrocketing after having rock bottom prices due to oversaturation of the wheat market. Global prices go super high. Ukraine is less affected by drought that other places, but still has a significant drop in yield. Stalin (the Party) commanders all the grain anyways to feed central populations and stimulate the economy through trade. Other places do not do this. Ukraine has something like 3.9 million deaths from starvation, other places do not, especially not in North America despite 33% reduction in grain production over the decade.
I fail to see why the Ukrainians should feel like this was just a bit of bad luck, and that everyone had it tough.
I also agree that the video's take deviated from a purely materialist analysis at the end, and touched on matters of opinion, concerning China. However, it's also completely dishonest to deem it an "entirely undemocratic" government. Sure, people do not elect the chairman of the CCP, but does that make it entirely undemocratic? Do you know how hard it is to reach that position, how many years it takes? The CCP has created the truest form of bureaucratic meritocracy that any nation has ever implemented - in most levels of the public machine, people find themselves there not only because they really wanted to, but really proved themselves worthy and capable, not because they spent $200 billion in advertisement, legal bribes and electoral rhetoricians. In fact, Chinese elections are the single largest ones in the world, more than 900 million participated in 2022. Direct elections mind you, no electoral college. Don't let yourself be fooled by the bourgeois system's illusion: two parties that tell the people they are diametrically apart, whilst governing exclusively for 1% of the population and their imperial necessities, is not the pinnacle of democratic processes. I highly recommend taking a look at Dongsheng News, a socialist Chinese media outlet, aimed at foreigners. They have an excellent video on China's political system: th-cam.com/video/ChFRnI7-QS4/w-d-xo.html
This is just idoelogy
Great synopsis. I have been delving into the horror of ww1 a lot lately, something that I never really heard much about growing up. It’s worth noting how tight of a control the global oligarchs had on information early in the 20th century. Despite that control, socialism came to the forefront mainly among soldiers who had to endure and live in the mud and the blood.
Dude, you can't just flash Butler's face up like that implying he was the bad guy. The dude was instrumental in stopping it from happening! 😂
Just now seeing this. It’s a excellent video
in otherwords, if you are self sufficient and refuse to buy commodities, capitalism falls. if you are self sufficient and even take care of others, the government that made capitalism falls. if you take care of everyone and promote their futures - along with getting rid of anyone willing to stop you from doing so - fascism falls.
The democratic party & It's " New World🌎 Disorder " ideology syndrome conspiracy theory. Against capitalism agenda won't be beneficial to the planet🌎. Take a good look 👀 at the economic catastrophe in the once prosperous Venezuela-!!!😉
And then the challenge is keeping it going without falling into fascism, corruption, capitalism, or anything else
@@neoliteral the challenge is keeping fascists out, its take overs and co-opting. people dont naturally bias to fascism as some pit fall. theres instigators and co-optors who will lean things into antagonism for the sake of discord and profit. an educated civilian mass who understand the material conditions of different propositions from politicians are able to quell any force attempting to draw on those deviations. for example, the citizens of Venezuela a couple of months ago who were themselves stopping the US funded coup by driving out the militant antagonists.
this video taught more economics than any US university's economics department
Love the video, very informative for someone who only has an American high school understanding of this period in history lol do you not recognize that China has many fascist policies though? Which does run counter to what Marx believed about the necessity of the liberal framework to be able to move farther left?
For those wondering the background music is called "Dennis Lloyd - Nevermind"
i wouldn’t say the violence of capitalism resolves anything. it only perpetuates its own mediocrity. mediocrity is the word i would use for the violence of capitalism, and it suffers from its own mediocrity, and lashes out from its own self hatred. we all deserve better from ourselves and from each other. I don’t think people truly understand how incredible life could be if we can overcome this limitation
Chinese W. I think the PRC is on the right path. They have learned from mistakes of the past and will show the world an alternative still exists. All in good time. Incredible video.
The soviet's were offered less than Germany after Bretton Woods.
Your video narrator states that Eisenhower's Military Industrial Complex speech took place in 1953. It took place when he left office in 1961.
Great insights!
"the overriding purpose of the new deal was to provide income and employment for workers" - no, it was to subsidise the capitalist economy with cheap labour. Automobile companies aren't profitable without good roads paid for by the public.
Actually it was to keep the pitchforks at bay and alleviate some of the desperation and anger of the working class. In order to save capitalism and avoid a workers revolution. The *method* of accomplishing that was to provide employment, income, etc.
@@NunyaB1105 that was one purpose, but the *overiding* one was to adapt to the new needs of capital accumulation. capitalists could not afford to invest in production/employ masses of people so the state stepped in, thereby enabling and cheapening production of equipment and infrastructure that capitalists need to purchase or use to function. The result was the same as any other 'form' of capitalism - a concentration of capital ownership into fewer hands. Read my book for extensive analysis (Socialism or Extinction by Ted Reese)
It's clear from the graph of US productivity and real wage income, that US workers have been shafted by unfettered capitalism and greedy corporate America since the mid 1970's regardless of the party in power. The US took advantage of being the only nation to have emerged unscathed by world war, with a much bolstered industrial and military base. Now the world has caught up and the US is in decline and has been living on debt. That decline is unstoppable as US indebtedness balloons and the BRICS nations become even more dominant in trade. Consequently, it is inevitable that it will lose its uni-polar hegemony, by when the whole US population will realise that it's been taken for a ride.
Er…. In that 1932 Inaugural photo, that is FDR and former President Herbert Hoover
Okay?
This is excellent.
28:39
When I search Saudi Arabia and United States deal to sell oil in US dollars, it says there is no evidence, or no official agreement. Any references or articles links?
There's also the fact that Vietnam became the moneypit into which the vast majority of the US's post-War wealth was sunk.
I read one report by the WSWS tha I cannot locate at the moment, that stated during the post war boom, Americans, who represent around 5% of the world's population, were consuming 50% of the world's commodities. The US was also producing 5 out every 6 motor vehicles and 30% of the world's steel.
I was born in 1959, (at the end of the last ice age) and I vividly recall just about everything was stamped "Made In Japan"
According to the American debt clock web site the median home price in 2000 was $166, 900. The median wage in 2000 is listed as $31,991
According to the same website the current medain home price is $405,000, while the median wage is $39, 799
Latest inequality figures for the US, The wealthiest 10% control 69% of all wealth...not surprising. However the bottom 50% now share just 2.43%
Don't forget to vote blue 💙💙💙 before you starve to death
It should be noted taxation and the New Deal legislation were policies put forth by the Roosevelt administration, however most had to be written into law by Congress.
Definitely a pro Soviet bias here.
Great work
41:25 I think you meant “trillion” here, not billion?
Excellent video
Corporations clawing back the promises of the new deal.
Good stuff dude! New sub
Great video!!
Woodrow Wilson was the most wicked man in American (political) history, but Nixon was the second-most. The chart at the first of the video says it all: not only did currency speculation rapidly **increase** as a result of depegging the dollar from gold, the "temporary" "90 day" (e.g. eternal) suspension Nixon enacted also allowed the recollection of hard-bartered wages through the subterfuge of "raises" merely matching inflation as their earnings continued rapidly outshining inflation. No company town necessary. It also rapidly accelerated the currency speculation it was supposed to end - there are videos of traders excitedly going about it the very next day, snickering.
I don't agree with all the solution proposed, e.g. the dictatorship of the proletariat over the kulak, internal violent revolution, all of the bulk that caused problems in the USSR and China like mass price controls, government ownership of land leading to widespread criminal-government corruption, useless measures of productivity falsely inflating the effectiveness of the system e.g. the mile-ton measurement supposedly capturing the productivity of factories and the disbursement of product across the nation when people were just driving overloaded delivery trucks uselessly up and down roads near the trans-Siberian railroad and so on.
But the problem has been correctly diagnosed.
Exactly.
Neostalinist solution: believe the Chinese Burocracy that in 100 years they will reach socialism
Nixon tried to give workers UBI lol. Learn more please
You left out the meeting between FDR and Ibn Saud following the Yalta conference.
1971 Nixon nixed the gold standard completely and America switched to fiat currency.
When was the minimum wage law put place? What was it and did it hold it point as you requested?
It's crazy how every historical event can be mapped to a modern day problem with our society's fabric. We just voted to be "free" to be dumb and poor, yet somehow state control from liberalism feels to just be policing anything good.
Excellent video brother
i fail to understand how was productivity measured in the graph at the beginning of the video
I wonder what the modern right (and liberal) would say about Nixon if he entered politics today.
An excellent informative bit of information here. Two critiques: 1) Its title prevents its ability to be widely accepted in the US, where conservative mindsets will reject it outright even if its contents would purport to lift their standard of living. 2) Its conclusion starting at 44:10, which I may rightly agree with, will further impede acceptance by the masses in the US. If it were otherwise disseminated as regular rhetoric without these two impediments, I could use this and reach a much greater audience. By far.
All this said, in general, this is a great video. It hit on and confirmed many points which I have previously researched and compiled in the annals of my mind.
catching shadows? goated music taste
I love it. I use it in a lot of my videos.
FDR was NOT Keynes. he rejected and opposed Keynes. FDR deployed The American System, devised by Alexander Hamilton, Henry C Carey, et al.
Thank you bruv
The best video on the Internet
Thank you very much.
0:52 Fiat money is the foundational problem.
These speakers Certainly do point out grievances many can relate to but as with any good salesman they dont necessarily offer the best solutions.
Many of the problems noted by MMT and socialist/communists (all are a form of forced collectivism) do exist today. The extent of these problems is primarily related to a corruptable monetary system. One in which a group of people can create money from nothing....lending money they dont have in order to create money giving them the upper hand involving all negotiations from gov policy to wage negotiations with employers. This money printing is done by central banks and governments. The answer is money with a set amount of units that are infinitely divisable and laws preventing the lending of money they dont have (known as fractional reserve banking).....NOT gov controlled and manipulated money as proposed by collectivists (marxists, socialists, etc) and "capitalists" as this would be just the same, or worse, than the quasi private-public fiat monetary system seen in the West.
This money must be agreed upon by all users of it. There is still the problem of how can people know how the system works without being experts and spending much time on the subject. Such as the case with bitcoin or any financial system....however bitcoin seems to be the best solution so far, with the exception of highly concentrated holders. But with a set fixed money supply, a balance (not perfect or unchanging, but ebb and flows as the balance of life and resources in nature) will arise. Allowing for competing business that cant be perpetually bought up from another business with printed money (loans) creating monopolistic industries. With more employers to choose from, employees will have more bargaining power over wages. Essentially a hard money system flips the current forced Fiat financial system 180. Insted of prices rising, you get declines. Instead of asking employer for a raise, they will have to ask you for a pay cut. Instead of shitty service from big box retailer or tech giant, there will be smaller companies rolling out the red carpet. Businesses will need to offer better service to customers in order to compete with each other. With real hard money, there will be much less need for government involvement.
With the solutions proposed by communists/marxists/collectivists, a society of have and have nots will perpetuate just as much as in a banker money printing society (falsely called capitalist as its not based on capital but on debt/credit). Both of these will place individual liberty far behind any other priorities.
Gov only for Life, liberty, and property (which includes hard money) is the basis of civilized society. But when groups/Government forcibly take and give (false philanthropy, while keeping a lot for themselves) then people riot to get "their share"... Then less and less productivity...
The wage stagnation is a direct correlation to the ending of the gold standard. After the US government was no longer bound by the gold standard it was politically incentivized to spend spend spend and thus print money which deflates its value. The issue of our spending and our debt will not be fixed until it becomes a crisis and it becomes politically advantageous to do so.
Idpol is neoliberalist-approved activism. Adding 32 hashtags to your identity with no mention of economic class is just hyper focused rugged individualism and is privileged as fuck.
2024 and a home (at least here in Canada) is no where near 5x the median income. I think you are using median household income which requires one LARGE caveat. In the mid 20'th century most homes were single income households, while today most households are multi income households. This fact alone needs to be addressed since simply working incurs costs to the worker (transportation, lost time at home, etc) that makes a single income homes have an economic advantage over multi income homes.
You were so pro-FDR I should’ve expected the Chinese ending 😂
I am not pro-FDR, but wanted to show that if capitalists can give us reforms they can also take them away.
This makes sense from a Marxist view of the world but socialism doesn’t work, the soviets economic system wasn’t actually able to create a strong economy of any kind because workers couldn’t specialize, there was no idea of competition to create innovation (exactly the problem that America has right now), and lots or bureaucracy. The ideology of socialism is also flawed thinking capitalism is imperialist, big economies and strong militaries are. Now not all policies that are socialist leaning are bad nor all capitalist ones are bad, it just has to be taken in context. That’s just my thoughts based what I have learned over the past few years of learning about economics and geopolitics, I’d love to hear counter arguments to learn more.
See some of Richard's comments
These speakers Certainly do point out grievances many can relate to but as with any good salesman they dont necessarily offer the best solutions.
Many of the problems noted by MMT and socialist/communists (all are a form of forced collectivism) do exist today. The extent of these problems is primarily related to a corruptable monetary system. One in which a group of people can create money from nothing....lending money they dont have in order to create money giving them the upper hand involving all negotiations from gov policy to wage negotiations with employers. This money printing is done by central banks and governments. The answer is money with a set amount of units that are infinitely divisable and laws preventing the lending of money they dont have (known as fractional reserve banking).....NOT gov controlled and manipulated money as proposed by collectivists (marxists, socialists, etc) and "capitalists" as this would be just the same, or worse, than the quasi private-public fiat monetary system seen in the West.
This money must be agreed upon by all users of it. There is still the problem of how can people know how the system works without being experts and spending much time on the subject. Such as the case with bitcoin or any financial system....however bitcoin seems to be the best solution so far, with the exception of highly concentrated holders. But with a set fixed money supply, a balance (not perfect or unchanging, but ebb and flows as the balance of life and resources in nature) will arise. Allowing for competing business that cant be perpetually bought up from another business with printed money (loans) creating monopolistic industries. With more employers to choose from, employees will have more bargaining power over wages. Essentially a hard money system flips the current forced Fiat financial system 180. Insted of prices rising, you get declines. Instead of asking employer for a raise, they will have to ask you for a pay cut. Instead of shitty service from big box retailer or tech giant, there will be smaller companies rolling out the red carpet. Businesses will need to offer better service to customers in order to compete with each other. With real hard money, there will be much less need for government involvement.
With the solutions proposed by communists/marxists/collectivists, a society of have and have nots will perpetuate just as much as in a banker money printing society (falsely called capitalist as its not based on capital but on debt/credit). Both of these will place individual liberty far behind any other priorities.
Gov only for Life, liberty, and property (which includes hard money) is the basis of civilized society. But when groups/Government forcibly take and give (false philanthropy, while keeping a lot for themselves) then people riot to get "their share"... Then less and less productivity...
How socialism doesn't work if it worked in the USSR? I've been surrounded by Soviet people all my life and everything they tell proves that socialism worked. Brezhnev's boring and revisionism era was far better than what we have here now.
My POV is that I don't give a flying fuck about us traversing space. I want zero homeless before we even think about leaving this planet.
Tldr: I'm okay with lowering ceiling if it means we raise the floor
@@piccolo1525 understand. But people often ask for a system to control many things not understanding how it would work...not to mention the complexities of how to solve each problem. There's no way to solve most problems by a 51 percent majority vote on all details. So that means there must be representative gov. This places an enormous amount of power in the hands of politicians....leading to back door deals, power grabs, etc.
The best is to have a gov that only protects Life Liberty and Property...and all citizens must agree and understand this. Citizens need to stay vigilant because when any group is tasked with powerful roles it will be coopted by power hungry self centered people. People need to be responsible and should help those in need. But creating an authoritarian force will just be used against you and everyone else not at the top of that system.
Wow! Excellent video. Thanks so much comrade🌹♥️
Great video! Due one on HJR 192/ 1938 Erie Railroad case, Removal of Lawful money ushered in the Color of Law and the Courts of Equity which combined Civil and Criminal actions.
American National/ State Citizen
A very good video. However, free trade would be good if the workers owned the means of production and land wasn't a commodity. Capitalism and state socialism both miss the mark. The problem isn't the market, it's property norms which put the land and means of production in the hands of the rich. Abolishing absentee property would end landlordism and allow the workers to directly control the means of production at the point of production (which most modern socialists agree should be the goal). From there, they can organize distribution as they please, which, theyd likely continue to buy and sell goods on the market. Instead of capitalists accumulating their wealth though, all the wealth generated by any given buisiness would go directly to the workers. You also wouldn't have landlords stealing everyone's income either. So, I think neither capitalism or communism quite get it right, but mutualism and other forms of market socialism come close.
Bloody sad man, i love my grandparents but they really screwed me over with their political decisions
Capitalism needs fascism