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- เผยแพร่เมื่อ 26 ส.ค. 2024
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Julianna welcomes back recurring guest, Marxian Economist Professor Richard D. Wolff, to the show to discuss how Economists are warning Americans that while the recent unemployment numbers were surprisingly positive, the long-term consequences of the pandemic could be severe joblessness for millions of Americans faced with permanent unemployment. And according to Professor Richard Wolff, there has been a widespread understanding among experts that a whole raft of jobs would be disappearing in the next five to 10 years.
Wolff is an American Marxian economist, known for his work on economic methodology and class analysis. He is Professor Emeritus of Economics at the University of Massachusetts Amherst, and currently a Visiting Professor in the Graduate Program in International Affairs of the New School University in New York. Wolff has also taught economics at Yale University, City University of New York, University of Utah, University of Paris I (Sorbonne), and The Brecht Forum in New York City.
For info on Richard Wolff go to: www.rdwolff.com/
And make sure to follow him on Twitter at: / profwolff
For more Julianna, follow her on Twitter at / juliannaforlano and @juliannaforlano on Instagram and Facebook!
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In my neighborhood there's already wealthy individuals complaining about the increase in homeless. Some have come home to find homeless sleeping on their front lawns or using their hoses to wash off. They seem to think the only solution is to throw these people in jail. On the other hand, some are leaving out for the needy which has caused a huge rift in my community. I don't know how we, as a nation, have managed to lose our sense of humanity. We treat stray animals better. It is appalling.
Well said
Therecwould be a revolution if dogs were left a bound. Dogs are more important than humans for people here.
@Brain Inavat That is a knee jerk reaction. And if some are addicts that is no need to treat them badly. People don't get better when you degrade them. Most addicts started out with a doctors prescription.
@gary grine you bring up a good point there Gary...... Many people do sacrifice much to help people ( ie ) homeless & I try myself as well. I cannot / will not compromise safety of home though
@gary grine You don't seem to get it. I pay taxes like most others. Would rather those dollars were spent creating clean places for the homeless to live and facilities for psychological care and rehabilitation. Would be less expensive than putting them in jail and/or having them steal to survive. I've worked with the homeless before. Not all are drug addicts. Many just had bad luck. Could be any of us. Could even be you one day. Jail isn't free, in case you don't know. So, seriously, you should think before you speak.
I've commuted on a bicycle only for the last 15 years. Every bridge is crumbling and most streets and roads you need a mountain-bike. Seriously every bridge I see is falling down.
You should be highly commended. The American car-culture is hideous and destructive. Too many fat, lazy people needlessly driving huge vehicles that they don't need. When I was in high school, I had a bicycle. Now these kids who have never worked drive a new car or truck to school. The sight of a woman laboriously climbing out of here F-350 truck at Walmart says it all.
The food, air, water, along with education and healthcare are in the same shape.
What state?
Some years ago, our letter grade for infrastructure and bridges was a C- to a D. It has to be an F now.
Two important points: 1. Just 3 decades ago, cars in China were rare, everyone bicycled to work. Now, roads there like here prioritize the Automobile, WHY? Because Profit.
2. It is much like why American Jobs moved to China in the first place. Remember, the USA was engaged in a Cold War for decades and that was profitable plus it kept people fearful instead of demanding health care that didn't enrich insurance companies. Well, moving Jobs (even whole assembly lines, the technology, the documentation) to a cheaper labor market AND creating new consumers is also, very profitable.
Ready for the next profit engine? China is "the new threat" th-cam.com/video/taAHtUDo18Q/w-d-xo.html
Give me a gun and i can rob a bank.
Give me a bank and i can rob the world.
It's already been done! like your comment, how true.
What a fantastic breakdown of our broken corrupt system.
It’s not broken. It’s working like it’s supposed to. The only thing is it’s ONLY suppose to happen to black folk. Now it’s happening to everyone.
The US is experiencing a tsunami of cognitive dissonance.
I believe you mean cognitive bias Everyone thinks they all know better and their right. Even if they don’t have the knowledge or education to be talking intelligently on the subject. Personally I seen this coming a long time ago and I’m just watching America bury itself.
@@ricbrunner3880 I believe you mean confirmation bias?
The US experienced cultural gaslighting since at least Ronald Reagan.
But, judging from the comments section, is ready to adopt marxism. There's a turn up for the books!
@@antonystringfellow5152 What evidence can you provide that the comments section is ready to adopt Marxism? What does Marxism mean to you? To me Marxism is largely an analysis and critique of capitalism. If that is what you mean by Marxism, anyone with a pulse is likely a Marxist. Given the state of the US economy there is much to critique about capitalism.
What he’s saying is that the people will do nothing until they cannot get any food to eat.
That’s when things will begin to change!
Not till then.
The government and money class know this!
Yes and badly indeed
Check us on Facebook for more details and alternatives
@ Sabaoth Temple/ Facebook
Agree.
Soon to be Venezuela, then just like there they will ignore the humanitarian crisis and fire on their citizens to protect corporate interests. They already are tear gassing us which is a war crime...
Thats why they cant stop the 600 a week. But they are angering the people who are working and the rich. Hmmm.
Banks got bailed out, the people got sold out! -Occupy
Occupy what ding dong?
@@dmm6341 Here's another.... ya occupying yet?th-cam.com/video/imo52kuIkIA/w-d-xo.html
So what else is new?
Delores Martel Are you two years old DING DONG? The Occupy Movement. Come out of you mother’s basement and look out of the window more often. Good gawd!
@@mypetcrow9873 Since 1980.... absolutely Nothing! Same cast of characters... It's only a matter of time before ALL people take to the streets... Change is coming, one way or another!
There are still a LOT of people who don’t GET the systemic problem. Until it’s them......
That's the problem with this virus... Just today still I got someone say it's as fatal as the flu. Which isn't true. In the US for influenza has ranged 12,000 - 61,000 deaths annually since 2010. The coworker was quoting the 800,000 hospitalizations on average per year from the flu.
I had to remind him, we've had 141,677 deaths 7/17/2020 in the country; and those were in very isolated areas due to the quick lock downs around the country. In the states, cities that were hit hard, they had to get refrigerating trailers for all the dead as their morgues were overflowing.
www.cdc.gov/flu/about/burden/index.html#:~:text=While%20the%20impact%20of%20flu,61%2C000%20deaths%20annually%20since%202010.
What political party gives a damn about struggling families? None.
Bernie was lighting the way but they snuffed him out.
Exactly my thoughts on it, they Will Never Allow a political person Who truly Cares About the Nation to take over the Office, that will never happen. So We will always have the Ones that don't Care about the Struggling Families, None.
@@jenniferlorence1950 It's apathy that allows bad government. Everyone needs to vote. It is the law in Australia. Read this New Report, or it's conclusions from the American Academy of Arts & Sciences-amacad.org-a think tank with some good ideas for making us a better democracy.
@@Martin-se3ij Bernie is a phoney baloney. I say that as someone who canvased for Bernie in 2016.
One pretends to care, the other doesn't even pretend.
This is possibly the first time I've heard someone directly say that unemployment is a systemic issue, not an individual failing.
I'm 26 and disabled, with a pretty high level of education. I've been told multiple times during job interviews that employing me is "too risky" because I'm more likely to call in sick than a normal person - my disability would be no issue if I don't have to do certain types of work (which obviously I'm not even applying for anyways), other than the potential of needing more sick time.
The fact that unemployment isn't a personal failing should be very obvious for people like me. The entire concept that you need a job to live, the entire basis of this economy is already discriminatory in nature.
Similar here, 27 and disabled, master's degree in computer science. Thankfully I have a good job here in Germany but I hate it when people who are struggling are looked down upon. It's only rarely one's own fault in systems so unfair like the one in the US.
"This is possibly the first time I've heard someone directly say that unemployment is a systemic issue, not an individual failing." Not only that, but unemployment is a policy choice.
The systemic issue is the federal reserve central banking that loans each dollar with debt attached.everyone is a slave under central banking.
john whitesnake wake up dummy
@john whitesnake what is wrong with you
It saddens me to see so many people still believing in the Democrat Republican paradigm.
Bill Peart And trump fiddles while America burns. God help all Americans who are suffering because of this dotard incompetence and selfishness and complete lack of empathy.
2 sides of the same coin. The system is RIGGED lol!..
@@scorpio85
Connie, unfortunately what I said went completely over your head.
There is no right or left.
There is only Tyranny and Freedom.
@Connie lmao somebody has their TV locked on CNN. Poor, poor lady. Take the blinders off your eyes and realize that all mainstream media is brainwashing you. Our president is actually trying to help the average American. Pay attention to what HE does, not what people say he does. They are fucking LYING TO YOU.
The titanic is sinking yet the music is being played and keeping the masses amused 🤪
It already has sunk, it even has already hit the bottom of the deep.
A great metaphor.
@@hellooutthere8956 It was on NOVEMBER 21st, 2011 ! ! ! !! Then the FRN and the entire federal reserve became totally illegal after SEPTEMBER 2013 ! No renewal ! No chapter !
@@attilaevil I will have to Google wht you are talking abt. So wht do I look up?
@@hellooutthere8956 Find the national debt clock ! Look at the Biggest red numbers ( Liabilities ) and compare those to the green numbers ( Production) ! ! ! That is where to begin, ask an actual EXPERIENCED CPA when a corp usually files chapter 11 ! In simple terms ! Find all 25 videos of David Wynn Miller and there will be one where David talks about the money having been "boxed" to make it illegal ! There is a countdown that happened in 2011 in November if You can find the Debt Clock with dates to choose then go ahead and pick the date: Nov 21, 2011! Grab your calculator ! Also find the video of Ron Paul where he mentions the purchasing power of the FRN being around 3 cents and it loosing about 20% each year ! Do Your calculations !
The virus functions as a historical accelerant, bringing deteriorating system prematurely to their end.
As planned and this is why Gates, Buffet, Fauci, and others, all sent millions to Wuhan lab after Gain of Function moratorium in 2014 went into effect. None Dare Call it Treason?
And ushering in anew era of more of the same ie rich getting richer and poor getting poorer. Ho hum.
Covid is the biggest scam in the history of the world.
All deliberately planned. Covert 19!
@@lentrins ||| Biologists have known about this virus and this family of corona virus from studying bats and other animals for decades. Books have been written about this eventuality. But who wanted to buy books by biologists or listen to them talk about an upcoming pandemic on TH-cam? Very few people, it turned out.
Even now, with that the very type of pandemic hitting like they said it would, views on TH-cam for biologists talking about another upcoming potential pandemic of a different shape or set of functions, are not exactly setting TH-cam viewership records. Don't you find that at least interesting? Possibly disconcerting? Scientists that specialize in that field their entire adult lives always said it was a matter of when not if. They said, and wrote, for years, that we don't have enough personal protection equipment, N-95 masks, emergency universal income contingencies ( though thankfully, many developed countries like France, Canada, Germany, Norway, Finland, Denmark, Netherlands, & others, immediately put multiple monthly UBI funds into citizens accounts, in some cases only those whos income was affected by Covid ), and other manner of precautions we could have put in place in preparation for any pandemic.
Because of the way some people utilize the animal kingdom IN their human and economic pursuits, another pandemic can be highly plausibly expected.
Let me ask you a question. Do you personally think it is potentially unlikely, or potentially impossible, for some strains of viruses to infect humans if humans screw around with a large enough array of animal species?
Viruses are not like cells. They can be simple structures, but also highly complex created by billions of years of evolution at the hands of nature. A glacial process in where the time it takes for these changes and progressions to happen cannot be fathomed by a human brain in anything more than abstract terms.
Try picturing 1 thousand years. Now 1 million. And a billion.
Viruses are acellular, meaning they are biological entities that do not have a cellular structure. Therefore, they lack most of the components of cells, such as organelles, ribosomes, and the plasma membrane. A virion consists of a nucleic acid core, an outer protein coating or capsid, and sometimes an outer envelope made of protein and phospholipid membranes derived from the host cell. The capsid is made up of protein subunits called capsomeres. Viruses may also contain additional proteins, such as enzymes. The most obvious difference between members of viral families is their morphology, which is quite diverse.
Overall, the shape of the virion and the presence or absence of an envelope tell us little about what disease the virus may cause or what species it might infect, but they are still useful means to begin viral classification. Among the most complex virions known, the T4 bacteriophage, which infects the Escherichia coli bacterium, has a tail structure that the virus uses to attach to host cells and a head structure that houses its DNA. Adenovirus, a non-enveloped animal virus that causes respiratory illnesses in humans, uses glycoprotein spikes protruding from its capsomeres to attach to host cells.
Richard Wolff, not afraid to tell it as it is, thank you, you’re much appreciated 🌞🌻
@Paul Hogsten I just had a message from God. He told me to tell you to pipe down. Really.
@Paul Hogsten "and a little child shall lead them" AMEN
richard wolf should have ran for president. he tells it like it is.
Lovely! great to hear Jeff Bezos properly accused, staggering selfishness and greed, unimaginable wealth when there is starvation all around
@Citrine Sept good riddance.
Since 2000 I have been at the exact same pay wage except for maybe a dollar to increase there's something wrong there
In 1995 I made 12.50 and hour with health and dental benefits. And I now apply for jobs at 10 and 12 an hour with NO benefits and I'm almost 50 years old. The US economy is a joke.
“Free market capitalism” is a myth. If capitalism really worked, by its own standard of letting the “free market” decide whether it succeeds or not, then it wouldn’t need a bailout every decade.
The true story and history of ‘capitalism’ in this country is that it cannot function or sustain itself without the intervention of federal government infusing it with some form of socialism.
The problem is what kind of socialism our government is infusing our economy with.
Right now our government has only implemented “Corporate socialism,” which has only helps the ‘investor class.’ What our economy also needs is some form of “democratic socialism” or “social democracy,” which helps the ‘working class’ in order for our economy to truly recover and grow. We don’t need to reinvent the wheel. FDR and our country figured this out during the Great Depression.
40 years of unfettered trickle-down Neoliberalism in BOTH the Republican & Democratic parties has led our country to economic Neofascism imposed by the parasitic corporate elite.
hahaha. we do not have a free market. we have controlled capitalism, NOT the same thing. America has the largest govt that the world has ever seen.
ALL THINGS COME TO AN END AT SOME POINT, I THINK WE ARE SEEING IT HERE!!
Actually what you complain about is government intervention proping up the markets too fast and Making it crash (the government is the problem !).
Professor Wolff gets me so fired up! He cuts through and exposes the bull shit.
You obviously know nothing about economics if you think he is exposing the bull shit.
Brad Cooke yeah he does doesn't he he's great. I love that. Bout time. Like Robert kiyosaki
He "exposes the bull shit" by letting it fall out of his head....
10% of the population own 85% of the shares! There’s your takeaway!
Bezzos & Company have plenty of money. Go and get it. Like Roosevelt did in his day.
The human race has been a disaster for over 10 thousand years. The only answer is to eliminate Humanity and all that they have created, and start it all over again without GREED.
I am only 1 of 7 billion humans, and billions that have died before. That's why I said start it all over, because no one knows who,what when where and why we are here. Don't think we are suppose to know this.
Time for revolution
Unfortunately, this is the only way.
henry fante It’s the only solution now.
time for evolution
get rid of the triibe
You know the French people had this problem when they were a Monarchy controlled Country. The Royalty and establishment of France had such disdain and disrespect for the main populous that the common people had no choice but to rise up and end them once and for all. These French Royal's had absolute power, and teased poor people at the gates of Palaces by feeding the gaurd dogs roasts and whole cooked chickens and swan, just to rub it in that the people were lower than dogs. And that is the thing, nothing will keep you from the mob once the mob gets big and angry enough, no matter how big and powerful you think you are if the population rise up against you when they have nothing to lose you better have an escape plan. The Elites of the Angloshere not just the USA are so out of touch with the real World Economy that they have chosen to ignore the economy of the common people, and create there own economy unhindered by the great unwashed. Our public assets of any value have been stolen and sold, our pensions have been plundered so that we will have no future security. Our housing is inflated in value so much that most will give over most of their pay packets in mortgage payments to the financial industry. Those that rent are worse off as they have no long term home security and cannot invest over the long term or own any asset that has the potential to increase in value. Just as Wolfe said, if you are living pay cheque to pay cheque and may end up homeless and starving you will not complain too much will you, this appears to be the main area of control. The USA is not the land of the free in any shape or form, it is the land of Economic enslavement and extortion, from a crooked super wealthy elite who quite obviously believe that they deserve more and that they are Superior to you. For any Socioeconomic group to behave like this they must have a high prevailance of psycopathic traits. And psycopaths do not have much of a moral compass or compassion for their fellow humankind.
The economic class chasm between the 1% and the remainder of the suffering population is so grand, one might say the breach makes either invisible to the other. Like standing on the California coast to see Japan. One vast group can't talk to the other and the 1% is so distant and oblivious, it isn't even listening when it should. There will come a time when the harsh elements you have so wisely described above will come home to roost for the criminal economic elites--something like a great tsunami generated on an unseen distant coast and landing unexpectedly to wreck havoc on the opposite side hours later. That's how out of touch these . . . one percent economic oligarchs . . . are to the remainder of society. That grandiose tidal wave is now being generated . . . and "they" don't even realize it because of their myopic class, social and economic based views.
@Valerie Hall: You're right, although that "newest shiny car" might still be largely owned by one of the criminal banks and you have no title to it as it won't be paid for in years. Just the comfort knowing that you have the "permanent" job in the company which might dump you at any time. You could be in a worse position: the newest shiny car might be repossessed after losing a job and you have nothing to drive. No work. No car.
@@765kvline Our whole Economic system rewards Psycopathic selfish behaviour. Capitalism in its purest form is very inhuman and predatory, hard pure capitalism and democracy are not really compatible either. I believe in regulated Capitalism, not the so called totally free market Capitalism where corporations regulate themselves, thats like giving the Wolf the keys to sheep pen. If you are a hard working honest citizen as many people are you will end up shafted because you obviously do not know how to play the system. Being honest and hard working is the hoax, people like this are actually essential and are the glue that holds our Society together, people like Nurses, Social Workers etc. If everyone behaved like the Elite from any part of the World it would be an intolerable place, we would not have an economy as it would collapse. Some people make it big because they are gifted and driven individuals, who have original ideas and can market them. However a lot of the seriously rich and powerful were born into money, they simply own vast volumes of capital. These people went through private education that has trained them to think they are better than the great unwashed, an education that trains them how to be leaders and how to argue and convince. These people are brought up to consolodate and expand family wealth, these people are connected to people just like them, many in this socioeconomic class do not actually work. They have fund managers who invest and look after their portfolio, they lobby government to get there way and own the media. These are the people who are born into Wealth, these are the ones who are so disconected from normal reality and are brought up to believe they are superior to scum like us. The stock market is the economy they belong too, they own it and control it, the normal economy we belong too is where the proles belong. This is where social engineering comes into play, the media they own controls and frames debate. They control political parties through contributions and the Social position they hold. People have cottoned on that it does not matter who they vote for anymore, our political parties get endorsed by the media the rich control, so the people put forward for election are mostly puppets put in place to keep the status quo. A filter is put in place to keep rif raf out of certain positions, in many countries you cannot become a high court judge unless you can get an internship, you need to be connected to get one. It is the same with becoming a politician or even a main stream media journalist. You are either part of this club or not, and if you want to be part of this club first you need to learn how to smile as you kill (metaphoricaly speaking), de-humanise yourself from any moral code and shed any kind of empathy (basically you need to be a psycopath). These people do not pay tax, they lobby for the loop holes that we do not have access too. We pay tax that supports the infrastructure, education sysyem, military and goverents of the countries we belong too. Our countries that we tax paying proles support actually protect these parasites, and thats exactly what they are, parasites that have infected the brain of our civilisation to trick it into constantly feeding them whilst they contribute little except socioecomomic stress upon the real workers.
I call it WSD WHITE SUPREMACY DOGMA.
@@andregregoire1175 You know most working class whites are in the same socioeconomic group as other ethnicities in most Western countries today, so White privelage to me is bullshit. Not all the World super rich are white, many are Asian and Arab, in fact most of the wealthiest are from these regions. The USA is still quite bad in some states for racism but not all. The death of Floyd at the hands of the Police is shocking, however European white countries are actually the most liberal, tolerant, accepting and mixed race/culture on the Planet. Take China for example, you as a Foreigner cannot own a business or own property, but a Chinese national can in almost any White European Country. In Africa sectarianism is rife against other African ethnic tribal groups within many African regions, as is endemic corruption. In Japan foreigners are also not welcome to stay and live, which is technically xenophobic, but nothing is said about that. Middle Eastern Countries like Saudi Arabia have a racial cast system woven into the culture as does India where social mobility is non existant. Racism is a human condition, and it is not a condition specific to any particular race. I would like to add that People of power are taught to be masters of men, and that they fully understand our imprinted faults such as cultural and racial suspicion of the unknown. This means they play on these in built fears we have, to divide and rule, as united we would strip them of a lot of divisive power. Unfortunately the human race seems to be naturally bigotted and suspicious of outsiders and there cultures no matter the race, so the powerful are not worried at all. If the working and middle classes across the world came together across all races and cultures in solidarity the rich and powetful would lose a lot of manipulative power very quickly. White privelage is total bullshit and more diversion tactics by the powerful to distract from the real issues. If Black Lives Matter protested in Saudi or China by pulling down monuments they would be put to death, that would not happen in the West. I believe the West and the USA are the most open places in cultural/racial terms, if you want to see racial/cultural privelage go to India or any Middle East country. I still believe things should improve for all ethnic/racial groups in the West, but we are still the most tolerant on the planet.
The Professor is my newest favorite economist. He is damn good and the time for his style of ideas has come again. He deserves more widespread attention and serious consideration. I will study his work. Thanks, Sir.
The French know how to do it.
Cut it out!🥮
@@tixximmi the French conquered Europe and were the terror of Europe under Napoleon.
Wolff is up there with Noam Chomsky and Chris Hedges as America's most important thinkers.
Alsatiagent Michael Parenti too
I don't think he's at the level of Hedges or Chomsky but he's pretty good.
don't insult wolff with comparisons to status quo liberals like chomsky
You missed Cornel West
Bigger than chomsky,wiser than hedges equal on Parr with Ralph Nader
In my eight years working in China, I did not see homelessness. The government give basic housings to people based on their affordability and no property tax. If the US did not put all their money into wars they could have done the same.
Was recently in Amsterdam for a week, saw one person who could have looked homeless. Back in NYC I go out for 20 minutes and see near 50 homeless people. It is a sad reflection of how America is failing its people.
Were you asleep for those eight years? I am in china for ten years now and seen countless homeless people, the government doesnt give a shit about homeless people, those people simply can usually not afford living in the areas where expats and tourists usually reside. Absolutely NOT true, what you are saying. Maybe you didnt see them, but they exist!
were you wearing blinders?
Mk
WC direct was asleep n you were awake. Which part of china you "were awake".?
This comment is doo do stank
My grandma used to tell me stories about the CCC and how they put in the sidewalks in her town. She was in her 20’s during the depression and she loved FDR and always talked about how he saved people and gave them work.
I am 67 and my parents and grandparents lived through the
Great Depression. I can tell you that by
listening to those that did live through it that the Depression was WORSE, a
LOT WORSE than what most were led to believe in school and it seems we are going
to REPEAT history.
CAPITALISM is now and has always been a failure. The RICH
lost money SOOOO every working American PAID for their LOSS. Thousands of
American men, women, and children STARVED to death and MILLIONS roamed the
country homeless but why? There was NO natural disaster, humans destroyed the
plants and killed the animals so of course people starved and just to SAVE the
RICH. Capitalism is NOT our friend!!! My
generation heard the truth about the depression from the people who lived it.
Sadly it looks like we along with our children may find out firsthand what it
is like to LIVE it, the next depression. Millions will again PAY for the losses
of the RICH. You can bet the RICH won’t go hungry or homeless.
Damn right! We are already bailing out the rich at the people's expense. It is happening now. Not later. Anyone with sense can see that regular people are going to starve. Stockpile food now while you can. Gold is for Kings. Silver, food and bullets are for common people.
Central banking needs to be abolished. Woodrow Wilson who signed the federal reserve act into law later wrote an apology letter to the American people how the fed reserve is now in full control of America.
th-cam.com/video/_F_2OIGHSXw/w-d-xo.html
G Edward Griffin: Great Book.
Do you want private banks running the economy? Did you think that through?
woodrow wilson is an America traitor who sold the USA for a chance of being President. His letter and apology have no credibility for he was a hypocrite and a traitor.
TheFranksantana and don’t forget a racist...that too...
@@socrattt Private banks RUN the Central Bank for THEIR OWN BENEFIT. That's why Central Bank is BAD.
That’s it folks .. THIS is over . And our govt doesn’t have the forethought of yesteryear
our RULERS know exactly what they are doing, none of this is accidental.
@@jacquelinemarie1078 40 years at least.. the chosen favorites were more hungry for their dinner./s
ZIMBABWE!
@@rickivers3233 In Zimbabwe, it didn't matter if you didn't have toilet paper. It was cheaper to use bank notes as toilet paper than to buy it.
✨ gary grine - for me, clearly, it’s not what you are being...
This man is really intelligent.
Trouble ahead for the USA with the homeless .Sadly
As a social worker for 14 years, I am planning to leave the field. It was difficult pre-pandemic to get people into affordable housing, critical jobs training programs, decent jobs, and disability benefits that they were absolutely qualified for. What’s just around the corner economically, maybe 3-4 weeks out, is beyond frightening. We absolutely do not have the resources or infrastructure to address what’s coming.
most important, perhaps, we don't have the WILL to address what's coming.
It should have never been the gov. responsibility to do any of those things to begin with. It's the job of the family, friends and local community. Creating dependence on the government causes people to a lose the sense of thankfulness, gratitude and dignity.
@@uncommonsense7471 Do you think the Swedish people are thankless, and have no gratitude or dignity? Or the Danish? The Dutch? Canadians? You think the British Queen is without dignity? Are not family or friend or communities just lager and larger units all contributing to everyone within the group's well being and thus aren't states and governments just another extension of this? We pay the government our taxes which obliges them with a responsibility to spend those taxes for the good of all of us. The nation and what is a nation but a family of like minded citizens?
That's what families were all about, people who could pool resources together and take care of one another. Today, Daddy is the government, and when Daddy fails you, then what?
@@Martin-se3ij exactly. critics that view government as separate from individual citizens are missing the whole point of democracy. when democracy is allowed to fail through the plundering of our shared resources by a few at the top, it is not that citizens have unrealistic expectations but that leadership has breached the contract and failed in its responsibilities.
The great American dream is now a living nightmare...
You should moving out of the US so you don't have to live in nightmare and let million others who want to come to the US any day!
@@snake2992 I did! I am now a proud Canadian, covid is now culling the number of idiots in USA.
@@julianchung9215 Canada is worse than usa
@@Nerkatan910 nope...
for some of us and increasingly more it always has been.
Totally Agree, in the streets, all citizens, we the people, make it real.
Michael Hudson is the finest Economist in the world. Richard Wolff is absolutely wonderful as well
no job = no production, and no spending. velocity no go
Glad Wolff is talking about victim blaming. Working class people constantly being victim blamed.
When Julianna said we are being gaslit by the bootstrappers I feel that BIG time
When the music stops it will be lots of tears and blood in the streets. 😳
"Bulls make money, Bears make money. But Pigs get Slaughtered." How many pigs will remain in the market?
All of them
@@Mikewee777 No not all of them, plenty will get out before getting slaughtered. But will a majority stay in until it's too late and lose all their recent gains
Sadly, all of them and there’s a lot of them!
@@Wolfsheim23 only lose money if you NEED to sell !! otherwise its best to wait it out and have a balanced portfolio !
Ovid & greed = sheep & slaughter
Thank you, Professor! Things are bad and getting worse, but at least we ordinary working Americans have Rick Wolff on our side...
It is time for a labor or workers party. Enough is enough of the two party system that could care less about the working class.
I have been asking why have Americans haven't been on the streets since Donald Trump got elected. US citizens have become very passive.
Passivity is only part of it. Until recently, a large portion of Americans have been (over)working to keep the basics (food, clothing, shelter) and have been too exhausted to care beyond that. Since the Covid-19 pandemic and the massive layoffs that have resulted, some people have started to question the inequalities that they've been living under. Others are still hoping things will return to "normal". The latter won't face reality and distract themselves. The former have faced reality and are the ones showing up to protest, but they (and we all) need to work for economic equality as well or the rich will continue to get richer and the poor poorer.
Oh surely you jest!? There was enormous homeless going back to the last (' most recent') presidents back to Reagan, Clinton, dumb Bush AND Obama! I lived in Phoenix,
AZ when first Bush and THEN Clinton was in, never seen so many homeless and begging on the streets! They were even giving bus tickets from , like ' the Midwest' to homeless to GO to Phoenix because the weather was more ' sustainable' ( I guess you could say ) for homeless people! Their downtown area was flooded with them!
It's no worse because of Trump!
how bad does it have to get before people act?
It has to get 2 to 4 times worse then it is now.
Take a look at the situation in Lebanon. People are struggling to survive. Many resorting to rioting and other necessary means. It can and will get that bad all over the Globe. When all is said and done. the World will not be the same.
@@jstube36 yes my partner has family there and very distressed.
Nothing major will happen until there is no food, then the clueless masses will go after the wrong guy. Then the ones who orchestrated this system will create the same system again under a different name.
@@nuperspektive you mean what's happening now...? fox and corporate media blaming the poor, minorities, immigrants, liberals, social justice warriors, "obamagate" whatever that is, and so on... it'll just be more of the same, what needs to change is the masses understanding that it's rich people with their boots on their necks, not poor people trying feed themselves. but as noam chomsky once said, "he who controls the media controls the minds of the public."
I’m past worrying as it’s all outside my control. Worrying isn’t going to change anything.
whats the time Mr Wolff? Time for revolution.
time for a crash. said this 4 years ago.
The interesting part of all this is that we arent just fighting Republicans...Democrats are not much different!!!!
Wrong.
ALL THE DEMOCRAT LAWMAKERS ARE WEALTHY AS WELL, HOW ARE THEY ANY DIFFERENT. I WILL ONLY BELIEVE POLITICIANS THAT ARE LIVING AN AVERAGE LIFESTYLE AND PREACHING IT FOR OTHERS. THE RICH DEMOCRATS ARE ALL LIERS.
Its not Republicans vs democrats its haves vs have nots. And most of us are have nots.
I wanted to add one other thing. Why is it such a surprise or horror to find out that great mass of the population actually "doesn't want to work"? The latest statistic I have seen is that when asked anonymously, worldwide, 85% of those polled said they hated their jobs. More familiar probably is the 65% that is out there and says this proportion is simply disengaged.
Actually, not wanting to (go to one's job) is not necessarily the same thing as not wanting to work. True enough, the last thing in the world people want is to be idle and bored and nonproductive. Wanting to "work" is, however, not the same as (wanting to go to a 9-to-5 job). But in the context in the discussion here that distinction is not made. Norm Chomsky has again and again and again pointed to wage slavery as well, slavery. And something that totally goes against the human spirit.
We are compelled to work by scarcity, rich people dont "work" in the same way a person with no financial runway works.
Hating your job doesn't mean "doesn't want to work" It means hating the job you have and don't see any safe way to enter into the kind of job you could really like.
@@janfeeler964 You can only end wage slavery by making it financially worthwhile to share the jobs we NEED people to do and work LESS..Instead of working and doing anything FOR money we all share the work we NEED to have done
We are told to admire the wealthy for being able to enjoy a fabulous lifestyle of luxury and leisure. People avert their eyes from laborers.
@@Redactedlllllllllllll the scarcity is false.
Americans can always be counted on to do the right thing…after they have exhausted all other possibilities. ~ Winston Churchill
" We are going to have a beautiful crash and another great depression "
There was a time when the rich had everything and the rest of us had nothing. That was feudalism as well as the times before FDR and the times after FDR. We were certain that the rich controlled our government and we saw the government as being the servant of The rich. We rebelled against the rich by forcing them to enact laws that gave us a safety net when we were unable to work, or when we were too old to work and had to retire from the workforce. With FDR we began to think that the government had to represent our will. We developed amnesia. The MacCarthy Era persecuted us when we aspired to control our government. We would be branded as communists whenever we requested justice and equality. The rich had found a way to stay on top of the societal pyramid. All they had to do was to make democracy impossible. Politicians had to become the lackeys of THE FUNDING CLASS!!
Now many years have passed and most Americans are better educated than the victims of MacCarthy demagoguery had to endure. The executive in America is today that same funding class, DONALD TRUMP!! We must awaken once again to the desperate need for a government of, by, and for THE PEOPLE!!
100% correct my friend but with all doping mechanisms they use from drugs to media control is it too late to stop this Brave New World? I hope not but I can see humanity becoming slave to a AI computer system that only considers profits.
@@bettyjones2614 We have had an uphill battle over human rights vs. profits since humanity decided to grow out of the village. Our animality has gotten the best of us. Yet there have been intervals of social evolution from the time of HAMMURABI 'TILL NOW. You are correct in thinking that many jobs are being taken by smarter machines. As smart cities develop and we must come together to be the sovereigns of our nations so that social evolution is accelerated into a social revolution. We desperately need to remove billionaires and their corporations from controlling our government. But that can only happen if we convert our votes into societal changes. That can not happen while there is only one political party, The united States corporate party. For myself, BETTY JONES, I will leave The Democratic Party forever! I will now Join THE PEOPLE'S PARTY IN THE HOPE THAT WE WILL GROW EVERY YEAR AND PUSH BOTH CORPORATE PARTIES OF REPUBLICANS AND DEMOCRATS INTO RULING IN OUR INTEREST NOT IN THE INTEREST OF BILLIONAIRES!!
To the question as to why the stock market continues to rise: The Greater Fool theory and we have no shortage of fools.
It is not human beings trading... It is AI...
@@zoejay Front running foolish humans.
The question is why it even exists anymore
@@petercasnocha5340 It wont much longer.
@@zoejay maybe we should allow AI to do the trading... AI is not influenced by outside sources like Media or if the sheik has a cold and oil will skyrocket...
A productive society puts their people to work when you have a moral, ethical society. We have unscrupulous corporations who are aligned with many of our politicians running amok which has to change. It is imperative for us as Americans to engage and change this system where we all can thrive and thus be happier.
People are on the internet entertained by crap and don’t have a clue about the realities occurring around them. If one of the clueless would have listened to this interview their heads would spin. People have forgotten to educate themselves and gotten lazy indulging in frivolous pursuits or just tuning out. Then they scream and shout about the how the government is run when they should have had an interest in it to begin with.
Back when the first depression occurred there were people who rallied together and organized large labor groups who helped each other. The came together and went to President Roosevelt and told him he had to do something or there would be a civil revolution. That’s how Social Security and unemployment came about. And the government also created jobs were they were taught skills as well from vocational to Academic so people would be able to start help themselves until things were worked out.
We now have the internet and we can organize just like before. But we need a plan to put into place and in the meantime work together. We need put aside our differences. And Butch Dye start spreading the word as well and stop sitting on your shiftless ass. And all those who read this as well . I’m working on something.
This alleged economy is the stupidest I have ever seen.
The one percent is smarter than the 99 percent, for now.
Greatest comment of the month. Maybe longer.
@gary grine A fair economy run by honest people Not a bunch of gangsters. That pander to the very rich and the big corporations, who are buying up all the small companies that cant pay the ever-increasing interest rates that they keep on heaping on them and the ordinary man and woman in the street. Till it reaches the point. Where they can't afford to live and are chucked out of their homes onto the street. And then told to move on. Then if they don't or have nowhere to go. Are simply thrown into Jail.
Am I alone in predicting that our trajectory as a country, without modification, is most likely revolt?
Revolution and Jessie Ventura and Richard Wolf for president.
Universal Healthcare Medical dental everything. UBI for all citizens. Free College for Medical School and Sciences. Cut the MILITARY Budget by half. End these Senseless wars.
Tax the Fuck out of Churches and the Top 10 percent.
And Kill and overthrow the ruling elites and their pawns.
Rewrite the Constitution
Destroy Central Banks
Create jobs programs with renweable energy.
Rename America.
Destroy the old ways.
Make newer better ways.
Set Terms Limits
Change the entire apparatus of governance.
Establish new norms here and abroad.
But nah we prolly will just get mowed down by national guards.
and become Brazil just Bigger ...
@@jayroman1978 term limits for the Supreme Court. There is no room in democracy for lifetime appointments
You may be flattering the American sheeple, asleep in front of their big-screen tv's, smart phones, asleep in their big SUV's.
Joe get beyond the distraction ,an answer to your position MARXISM
And Joe you are on your own ,in your own opinion
I love Prof Wolf. One of the few words of reason in all this mess.
Reading the comments are some of the most common sense ppl I have seen on social media. Brilliant grounded ppl. I am so glad to find these ppl. Gives me hope for the human race.
EAT THE RICH
@@tixximmi Elaborate Please Do So By ALL Means Neccesary
@@tixximmi I Was Putting It Politely To Say The Least
@@tixximmi No But Being Hateful and Greedy and Selfish and Oppressive and Rasist and Misogynytic and all other EVIL and GOD less thing under the Sun Sure Is and Lord it over Others as well instead of being A Godly Humble Servant Leadership and Stewardship Is An Absolute Truth and Must otherwise the people have Grown Tired of Being Used and Abused and it is Past Time Already To Rise Up and Take Back Everything as it was the people's before the Elites Stole it
@@tixximmi The 99% Are Finally Waking Up And Are Going To Take Back What Was Stolen From Them In The First Place...... POWER To The People... No Justice and no Peace
@@tixximmi You may have one rich person employing 50 poor people but those 50 are going to buy 50 refrigerators where as the rich man only one. Surely it is this spending that propels the economy? Trickle down economics doesn't work it just makes the rich man richter. It is the working men and women who need to be given more money to buy more goods, to afford better housing, to afford to eat healthy food, to afford a good education and health care. Giving one man more money at the expense of 50 is a ruse born out of greed. A more economic equality is what is required, a rising tide of affluence lifting all boats and with them the whole nation.
Common sense 101. Thanks so much, again, Dr. Wolf.
there would be absolutely no such thing as unemployment or a shortage of jobs IF it was made financially worthwhile to share the jobs we NEED people to do and work LESS..no more primarily working and doing anything FOR money but instead doing the work we NEED.
Look into MMT = Modern Monetary Theory, and government Job Guarantee. There is no obvious reason we cannot have full employment.
@@juhanleemet th-cam.com/video/DGZ7nJCzlW4/w-d-xo.html
GORE VIDAL, " THERE IS ONLY ONE PARTY IN AMERICA AND IT IS RIGHT WING."
Intelligent Man, speaking Truth.
act.tv is simply a great.
When the *public* money goes to giant corporations and financial interests, the money does not go into the economy; when a large and increasing number of people cannot even buy food and pay bills and rent, the real economy is dead in the rising waters. And so are rather a lot of people.
An entire society of unemployed might be a good thing, we need hard times. The times have been too easy, it’s time for some tribulation in order to become stronger and better people
Something evil is coming and allowed.
Way, way too many ads. It interrupts the interview badly.
They want us to subscribe and pay not to have commercials. It is getting worse all the time. Not the channels, you tube.
lucy look up adblock plus
Use Brave Browser and say goodbye to ads.
lookup an anti-privacy app and install it into your respective browser. (example: uBlock Origin, Ghostery, and Adguard Adblocker)
Lucy Becker agreed !
They still pay below what is live able, what are you talking about, I don’t know who figures what is live able, but they need to be fired, I bet that person who does the figures gets paid good
People will rise up only when it hits them personally and it's too late to recover.
Until then they'll be far too busy being better than everyone else because they decided to OBEY and wear masks to guard against the hugely overblown pretext pandemic that was used to collapse the system and throw the citizenry out in the streets.
I am at the 19 minute mark and there have been 5 ads already. I mean, come on already.
use duckduckgo klick on adblocker
The group of both Reps. And Dems. Who have either by designed or complicity need to be voted out as soon possible before they destroy us.
You are a little late
The elections are rigged!
@@jenniferbringman9054 yeah, we have no real choices
and replaced by what
#votethemallout #reset They have failed us all
In the 1930s the government was very small compared to today and people had a lot more freedom and we prosperd inspire of government.
The world is not what it was in the 1930s. More people, more technology. Deadlier toys. People didn't necessarily prosper. My mother was 13 and she spent weeks at time on the trapline. My dad and his brothers were working harnessing horses 16 hours a day for .05 cents. My uncle's boss thought a nickle a day was too much for a kid that age and wouldn't give him the money even though it was a government sponsored program. Different times, different reality. When I was a kid my dad got a 160 acres of land from the Veteran's land act and homesteaded two more. We can't do those things now. We can't hunt for the table year round anymore...........
Come on these individuals at the top know exactly what they are doing.
@Ronald J Dempsey Are you kidding? That very ilk created the idea of the all powerful God in order to keep the peasants with pitchforks and torches from storming their castle walls. And you are proving it by leaving the dealing out of deserved punishment to a god that never existed.
Sports. Keeping UP With the Kardashians.Bread & Circuses to keep the masses from revolting!
The "Crash" has been here.... Especially for African-american people!
Eh? What?
Only a ripple. The tidal wave hasn't been here yet.
I just wonder how many people will no longer be here afterwards.
The sun will shine after the storm.
That I'm positive of.
Hang in there. Be kind to others.
I believe that all religions stems from one. Like a tree. Planted with a root that is firmly inbedded. Over time limbs spreading into branches, and futher with leaves. With mans own thoughts of what should be. Losing sight of what was meant.
Core beliefs hidden. Replaced with emotions and fears.
Taught by ones who were taught by the one before. Changing to match what is desired.
Never seeing only feeding .
Feelings of guilt covering up with more. Blinded by things as sight views objects.
Bread crumbs left as messages to understand what true.
Blaming and afraid of others taking what was given.
Only solutions solve the problem being divided in our land meant for all.
Blessed with a planet to take care of not to take from.
In the end everything goes back. We have power of sight to move foward or backwards. Vision not coming from the eyes only within.
I try following these guidelines for living
1-help where you can
2-share what you are able
3-try not to harm.
yup. watch videos driving through the hoods around the country. It has been here for a long time for AA
That's why we know how to survive. 🖤🙏🏾
Now we thrive
i love this guy. even if he is the bearer of bad news, i feel he is genuine with his ideas and intentions.
I remember the last crash, watching people get evicted out of their homes and that very house be resold almost the same week, it was horrendous over here in Ireland. People got absolutely butchered with the housing bubble. There is no way I would buy property unless we get to the very bottom of another crash, for now I am saving money as much as I can but its never enough as the damn prices keep going through the roof.
Thanks for helping people to wake up!
Prof.Wolff if we don't get assistance from our government or by capitalist, what can we as citizens do to prepare for the deluge, Thx. to all your insight tempered by education
Organize local mutual aid groups. Research sustainable urban gardening. Stockpile food and other necessities for those in need
Get some crypto. Bitcoin and/or Litecoin (Digital Gold and Silver) is my preferred option as they both have a fixed supply.
Provides some inflation protection. Coinbase Exchange is probably mist convenient in USA.
Disclaimer : Not Financial advice. Don’t spend more than you can afford to lose.
Why have we broken up a "monopoly" such as AT&T (Bell System), yet ignored Microsoft (which is a virtual monopoly) and similarly constructed firms, and avoided their exposure to anti-trust regulation? If there was any company which needed to be dismantled . . . it is Microsoft.
The US actually did take Microsoft to court.
And Amazon especially.
@@YouAREyoubeYou What was the result?
Awesome interview! Thank you!
Wolf is the smartest guy in the room right now. “A blind tsunami “
Louis F. Pak - Everyone’s entitled to a slight slip-up every now and then (e.g. Wolff, not Wolf); besides, when was the last time you saw a tsunami with 20/20 vision?
Dorian Philotheates Ah, well thank you so much for taking the time to type out a very gentle correction! Good soul❤️
Louis F. Pak - Thank you for the kind response.
REDUCE THE MILITARY BUDGET 350 BILLION. TAKE 100 BILLION FROM GATES & BEZOS. ANOTHER 100 BILLION FROM OTHER BILLIONAIRES. PROBLEM SOLVED...
Make it illegal to be a billionaire, if for some reason, you want to own more than a billion? Fine but the rest flows to the bottom of society. Problem solved
Still too little from the mic. We could get by on 100 Billion if not less. Get rid of the nearly 7000 nuclear weapons. Only need 100 or so to wreck the world.
And kill Gates and the rest of those insane, rich, stupid bastards.
All of the money will not get us out of this mess.
great plan, that will fund things for approx 2 days. The problem is the Federal Government.
I’d love to hear what the solutions are, instead of what’s wrong with everything.
Damn Right Jonny Botsch 👍👏
Start listening to Peter Schiff... he has real honest, but unfortunately hard and depressing solutions. To get out of this without destroying the country we will have to suffer for quite a bit. But it is necessary
This guy is good, he should be teaching history to all the kids online who are not going back to school.
A pleasure to listen to Pr. Wolff
We are going to go through extreme pain that just is in the beginning stages.
Sooner or later the sun will shine after the storm.
Itll be the sun of a new dawn though, for better or worse
there goes everyone's pensions and social security money's .forget about ever getting ahead of this now.
who has not seen this coming.
Socialism is a failed ideology.
“Covid-19 is now inversely related to the markets. The worse that Covid-19 gets, the better the markets do because the Fed will bring in stimulus.”
Andrew Brenner, head of international fixed income at NatAlliance.
Julianna is great.. This was a very good interview
I'm loving everything that is happening in America. perfect set up for the military takeover.
Schadenfreude?
Yes Edward I agree, let's reshape them with Worker Co_opps
Mr Walff, with all respect the people at the top are not blind to what is going on, they are orchestrating it.
This is beyond economics, this is beyond politics.
You're right
What Thatcher said to Raegan: “Let them eat cake!”
I need to exit soon! Would it help if we all took whatever cash we had in the bank, liquidate all assets (property, etc.), borrow to the max - incl. credit cards - and change it for CAD or NZD or even Euro (cash) or gold/silver? The USD will probably be worthless, money in the bank will be shut out, and no need to repay any loans...
Learn Thai - Rapid Method no it’s far too late for that
You may as well exit the US - especially if Trump is re-elected. Your Social Security system will eventually fail and even Biden won’t introduce universal health care. And, with all the gun culture and social division and angst, there may be rioting and social disruption. Yes, max out but maybe still keep a third in US dollars. Retire in a country like Costa Rica or Thailand if you can’t get into Canada, New Zealand or Australia.
I think you'll find that the entrance fee to get into most countries that people currently think are better places to be, is more than most average Americans are willing or able to part with. On top of that, they're getting damned picky about who they let in these days. You might find yourself missing our First and Second amendment rights as well.
@ But just think, not one penny of your taxes in Costa Rica goes towards the military-because they don't have any military!
Research Valcambi combibar . It takes 2 minutes.
The problem is the greed buildt into the curren understanding of "the American dream". The "dream" has to be adjusted back to what it was.
No. The problem is the marxist currency. It will collapse.
@@danielp28 What kind if currency is that? Feel free to add details.
@@fritanke2318 fiat currency.
@@tixximmi yea, right. There is no greed in capitalism. A pure, honest system. I probably got it all wrong.
Back in the 30s people wanted to work, today I don’t feel that work ethic exists for most.
There is no hope. No future. Why would they care? People want to work. People work two and three jobs and have no time to take care of themselves and their homes. Of course they can't do two and three jobs well. The people who criticize the homeless snd unemployed are either blind or covering up the true causes of umemployment.
That is not true. A job is the dream of most people - a decent job that pays a living wage. I personally don't blame people for not wanting to take a job that doesn't even pay minimum wage much less a living wage. As long as people allow themselves to be abused in this manner the employers will not pay more.
That is a bunch of crap.
My grandfather was in the CCC. They sent him from Akron, Ohio out to Montana and taught him to be a jack of all trades. It was demanding, almost like being in the military. They wore a uniform. If you tried to do that today, people would lose their minds crying about how it was a violation of their rights.
what we need is bottom-up revolution that enables families, communes, and businesses too, to to acquire resilience through increasing self-sufficiency.
localized safety nets independent from whatever the government does.