Economic Update: The Missing Economics of the 2024 US Presidential Election

[@HectorWhitney]

The only American who won't acknowledge this Administration's failed economic policies is Joe Biden. "Shrink-flation' is the least of our worries compared to rising rents and stagnant wages, but it is an undeniable indicator of how bad our inflation has gotten. I have $100k that i like to invest in a non-retirement account, any advice on that?

[@ChristianKelv]

I would avoid index funds, mutual funds, and specific stocks for the time being. Right now, the best option is a fixed income of five percent. Put money aside for the times when the market really starts to bounce back.

[@PaulKatrina.]

People often overlook the value of financial advisors until they experience the downside of emotional decision-making. I recall a few summers ago, after a difficult divorce, when I needed help reviving my struggling business. I did some research and found a licensed advisor who worked diligently to grow my reserves, even amid inflation. As a result, my reserves grew from $285k to around $720k.

[@Hectorkante]

Your adviser must be really good, I hope it's okay to inquire if you're still collaborating with the same adviser and how I can get in touch with them?

[@PaulKatrina.]

She goes by ‘Sophia Maurine Lanting’ I suggest you look her up. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did

[@BellamyGriffin19]

Thank you! I entered her full name into my browser, and her website came out on top. I filled her form and i hope she gets back to me soon.

[@SuhovarovDmitry]

In my opinion, no one is trying to solve these problems because there are people making money on these problems.

[@alcooper6186]

This is the tipping point in the Capitalist System, it starts to cannibalize itself, in a dog eat dog scenario. The system needs to change to a more humanitarian one since the current one is based on Greed.

[@chriswong9158]

For it is only natural: “In the midst of chaos, there is also opportunity” ― Sun-Tzu Where USA once was in the World, today China PRC industries and people are making them better....

[@davidmarotz189]

​@chriswong9158 Naturally? A man made object that controls everyone's livelihood is not natural.

[@jgalt308]

@@chriswong9158 Yeah, worker exploitation and colonization with Chinese characteristics.

[@Luis-qe8el]

But if the incentive is getting people to a place of good economic vantage point so they can rely on society surrounding them and work on issues that go beyond their borders, more than recover the past glory, the most important is keeping the health of economic status in a positive and productive state for the most amount of people possible, and Mr.Wolf, this talk gives perspective, I'm not in America, but these views, the metaphor of going to the doctor, it's food for thought and action... Ty for sharing ur view!!

[@stetsonhicks680]

No biases or bs, just the facts that people need to stop ignoring. Much appreciated!

[@chriswong9158]

It's call American Democracy in action. Like the sample America build by, Athens who lost to Sparta.

[@LeninistAnarchist]

my fave person in economics + KZbin! Our prof! ❤

[@mrvaticanrag3946]

@@LeninistAnarchist For me - second favourite after Michael Hudson♡

[@SinD007]

Mr. Wolf should be on every mainstream news outlet saying this!!!

[@sl-lz3dw]

Mainstream News Outlets are owned by one of six conglomerates (owned primarily by some of the richest people in the world) though. Their platforming this message would probably not support their interests.

[@Zhengc]

Mainstream media won’t broadcast him

[@JamesMunge]

not a chance !!! alongside, Scott Ritter, Larry Johnson, macgregor, Davis, mcgovern and the list goes on !!!

[@JamesMunge]

​@@sl-lz3dwcorrect !!!!!

[@chriswong9158]

Can't.... Wolf cannot stop telling the truth !!!

[@a.randomjack6661]

For those of us who have ever dealt with compulsive gamblers, we can see it's the same behavior: deny our issues and keep gambling.

[@tonygiannilivigni5690]

Superb lecture on today's world economics !!! Professor Wolff is as clear as spring water! Thankyou

[@kevinjohnson9533]

Really inspiring talk by the Wolff in these immensely depressing times. Thanks Dr. Wolff.

[@singingway]

Professor Wolff is such a breath of fresh air. He's so grounded in reality.

[@jgalt308]

Yeah, the more he talks, the more uniformed you become...but send money and he'll keep talking...and "he wouldn't have it any other way."

[@PahatRout]

I just wonder how many US citizens actually listen to him? Or is it beyond most of them? I won't be surprised!

[@jgalt308]

@@PahatRout There is no reason to listen to him...the name of the game hasn't changed...and it doesn't matter how many listen...it only matters how many will pay to listen. And to what...the impending destruction of their own country?

[@PAYWUTU0WE]

I’m a US citizen who is in the right. I do not agree with his views. But it’s important to hear opposing views.

[@PahatRout]

@@jgalt308 , After all, I am sitting back to enjoy the next change!

[@juliasalley]

We Are in Unchartered Financial Waters! every day we encounter challenges that have become the new standard. Although we previously perceived it as a crisis, we now acknowledge it as the new normal and must adapt accordingly. Given the current economic difficulties that the country is experiencing in 2024, how can we enhance our earnings during this period of adjustment? I cannot let my $680,000 savings vanish after putting in so much effort to accumulate them..

[@Saviourtina-c4i]

Keeping some gold is usually a wise decision. You would be better off keeping away from equities for a bit or, even better, seeking advice from an expert given the current market conditions and everything that is at risk with the current economy.

[@KarenJ.Mancia]

You have a very valid point, I started investing on my own and for a long time, the market was really ripping me off. I decided to hire a CFA, even though I was skeptical at first, and I beat the market by more than 9%. I thought it was a fluke until it happened two years in a row, and so I’ve been sticking to investing via an analyst

[@KimberlyO.Kitchens]

Could you possibly recommend a CFA you've consulted with?

[@KarenJ.Mancia]

My CFA Stacy Lynn Staples a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..

[@DanielleB.Wooten]

Thank you for saving me hours of back and forth investigation into the markets. I simply copied and pasted her full name into my browser, and her website came up first in search results. She looks flawless.

[@naeemqureshi1826]

Mr Wolff, your vlog is an eye opener for the people who have the wisdom to see in the future. The narrative of these two parties is for the majority citizens to grasp their imagination for the immediate gain or benefit. Thank you for all this valuable information and knowledge.

[@garrettcole2251]

I came to the conclusion that we are in private feudalism. From the CEO, the lord, to the employees the peasants. We are still shackled.

[@breft3416]

Most of the top 10% are so far below the top less than 1% that it's crazy. The bottom 90% are on the brink.

[@garrettcole2251]

@@breft3416 well we all need a change to this private feudalism. We see it everyday

[@1519kyle]

I think it’s just expressions of structural demographic theory repeating over and over.

[@Darren-c6u]

It is modern Slavery, We are living the real life Hunger Games, literally😮

[@Black_Sun_Dark_Star]

It's called neo-feudalism.

[@SinD007]

Sir, I just learned about you on Robinson Erdhart's channel. I watched your whole talk on "The Utter Irrelevance of Trump" and loved it! I don't know how I am just learning about you but I love your analysis on the election, economics and government in general. Just one question - can you please run for president?!! You're what we need, a true intellect that understands politics and what this country needs!

[@jackshultz2024]

Trump is not irrelevant. Trump is a sign of the rot and the nihilism at the top of the hierarchy.

[@jaysphilosophy1951]

The U.S. incarceration rate is the highest in the world.......

[@lukeolson5177]

Jim crow and slavery never stopped. They're just called the carceral state now.

[@PhiloSurfer]

This is the true forced labor and the US goes around accusing other countries of using forced labor.

[@chriswong9158]

They are also the largest voting block during those four year election... second is illegal

[@stoneneils]

For good reason...the guns. I can't imagine if all our teens boys had firearms lol...jesus christ what a demogaphic to arm!! :P

[@Odihmantich]

I think the reason is that it is profitable for some people. Just like a reason for everything else happening in the US.

[@marke4640]

I fear modern America will not fade away gracefully, not even close. Critical question is, will we take down the whole world as we decline...

[@Ron4885]

I think you're right. My feeling is the U.S. isn't going to be open to an equally balanced global economy. Unless there is some kind of rather dramatic humbling event. My fear is that America will not fade away. God knows how all this is will play out. I feel it's eccelerating though.

[@achangyw]

I am concerned about it too.

[@BlueSpoonFarm]

No BRICS will survive.

[@RobertTung-wl5ww]

The host suggest in the other interview that if we can not win the competition, just join the winner.

[@kennykaufman8263]

Starting with baby boomers, the younger generations in America have become increasingly less appreciative, less understanding of what has been handed to them. Another words, they don’t have it in them to fight, and their mentality is one of expectation. As far as the rest of the world, we’re not going to take down much of it. Rest of the world is already gotten their shit together, because they are not as deluded.

[@cruzn4ever169]

Thank you Professor Wolff, Insightful as always - hopefully more and more people will Get your message, sooner better than later ~ Peace ~

[@aminawood1737]

Thank you so much Professor.

[@marycooper8385]

My.fave economics professor on economics The best podcast out there on this topic

[@rikaclawfal4835]

Thank you Dr. Wolff for what you do. It was long time ago that I came across a lecture you did that explained what happened during the subprime mortgage crisis. I am grateful for the chance to have learned the truth.

[@JohnKeyes-m9c]

Excellent episode!

[@belconnen1]

Amazingly explained, thank you so much ❤

[@mohd.sufianbinhassan5623]

This is among the best videos or episodes or lectures or whatever people call them.. thank you from halfway around the globe..

[@mandyyonge]

Our economy is facing challenges due to uncertainties, housing problems, foreclosures, global fluctuations, and the lingering effects of the pandemic, leading to instability. The rising inflation, slow growth, and trade disruptions require immediate action from all sectors to restore stability and promote economic recovery.

[@VanChuong-on2gh]

With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the dollar's perceived safety. Worried about my $420,000 retirement savings losing value, I seek alternative security for my money.

[@TommyChong677]

The issue is people have the "I want to do it myself mentality" but not equipped enough for a crash, hence get burnt. Ideally, advisors are reps for investing jobs, and at first-hand encounter, my portfolio has yielded over 300% since 2020 just after the pandemic to date.

[@HarunTosun-wg4rc]

This is definitely considerable! Do you think you could suggest any professionals or advisors I can get on the phone with? I'm in dire need of proper portfolio allocation.

[@TommyChong677]

I've stuck with ‘’Camilla Marie Fuller” since before the 2020 pandemic, and her performance has been consistently impressive. She’s quite known in her field, so you can confirm her on the internet.

[@HarunTosun-wg4rc]

Thank you for the lead. I searched her site up and filled the form. I hope she gets back to me soon.

[@rockeazymatt]

STOP GENOCIDE

[@stochasticxalid9853]

Vote Jill Stein...

[@anabolicamaranth7140]

@@stochasticxalid9853 That’s what I was going to say, you beat me to it.

[@thegoldenjaguar]

Yea, stop the genocide of black Americans in America!

[@claytonmitropoulos]

Spot on .... when are American people going to pull their heads out of the sand

[@stoneneils]

They will need a younger version of wolf who is not a third party independant but shows up to an election with an entire new party behind them. That's it...but they are a very well-trained bunch of voters..two parties that's it. And they buy it!! Insane.

[@tarajoyce3598]

When they are sitting on the porch giving their kids away "free to a good home" like they were during the great depression.

[@democracy1]

Getting over the denial that our political system is no longer adequate is a big jump for a lot of people, but we all must take it, soon!

[@randyosborne3971]

Congress is for sale. On the take. BOTH PARTIES. The future is bleak.

[@ellenmccarthy6912]

Thank you. ❤

[@VonNothias]

I hope we all know that it doesn't matter who is in the 'top job' because this is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. My husband and I will be retiring in the next two years n another country. We are absolutely worried that SSI will no longer be funded. we'll have to rely on his pension, a 403 (b) and a very prolific lnvestment account with my Abby Joseph Cohen my FA. Our national debt is bloating and expanding every month. Our government needs to get spending under control and cut the federal budget.

[@SofyaRodri]

I went from no money to lnvest with to busting my A** off on Uber eats for four months to raise about $20k to start trading with Abby Joseph Cohen. I am at $128k right now and LOVING that you have to bring this up here

[@LeaDupo]

How can i reach this Abby Joseph Cohen, if you don't mind me asking? I've known her by her reputation at Goldman Sachs

[@VonNothias]

​@@LeaDupoWell her name is 'ABBY JOSEPH COHEN SERVICES'. Just research the name. You'd find necessary details to set up an appointment.

[@CaressaWillian]

Abby Joseph Cohen Services has really set the standard for others to follow, we love her here in Canada 🇨🇦 as she has been really helpful and changed lots of life's

[@CaressaWillian]

The very first time we tried, we invested $7000 and after a week, we received $9500. That really helped us a lot to pay up our bills.

[@democracy1]

Building a society based on cooperation and our mutual well being is the transformation we must undergo. It will require new economic and political systems. Both more democratic and more effective.

[@katieandnick4113]

Never gonna happen. There are way too many people. Humans are wonderful at cooperating when we have not far exceeded earth’s carrying capacity. Of course, we passed that point thousands of years ago, and have been careening downhill ever since. It’s certainly possible that we may get to that point again, but it may be more likely that we simply go extinct. It’s highly narcissistic to expect that humanity will exist forever anyway.

[@singingway]

Ask your public library to buy his book under their "suggest a purchase" on their website

[@garrettcole2251]

In fairness, America must face pain, to allow fairness to the world

[@breft3416]

How much more pain do you want? For goodness sakes, there's homeless, bankruptcies from catastrophic illness, crap wages and food lines in every corner of the country. I live in a wealthy area and every Thursday at 1pm, there's a long line at the food bank. It's been this way and gotten worse each year since 2004 (1980, really) no matter the president. There are no more sacrifices to be made so that other countries can be as wasteful or as dominated by the ultra-wealthy as we have become. As the Professor said, it's over unless things really change here.

[@Victoria-Enzula]

There are plenty of homeless suffering Americans. It's awful. This is a different than when I was a child. Reagan ruined us incredibly. He stole from SS to fund tax cuts for the richest.

[@garrettcole2251]

@@breft3416 BRO, your politicians are hiding from the world and the economy. The shipping deals,the investments, the foreign grants are drying up thanks to ignorant trade leaders from the last 30 years.

[@anneliu3816]

I think he meant a potential revolution.

[@katieandnick4113]

@@breft3416it’s only just begun.

[@jaidern]

Brilliant. I've never seen anyone expose this problem so clearly.

[@avtarsingh8948]

As always, thank you Sir.

[@seb6177]

Thank you 🙏👍

[@richardbrown6154]

" end Human bankruptcy " an idea whose time come The Search for Truth and Transparencies continue ...With Mr. Wolff I find Truth and Transparency .

[@chelseayorkshire5741]

Dear Dr. Wolff: the politicians running to become the new President can NOT call for a Referendum on wiping out the $12-17 TRILLION DEBT the American citizens owe their Big Creditors: banks, credit card companies, etc......If Trump or Harris talked about THAT Referendum, the Masters that own them would politically destroy them. Even that alone is one of the huge burdens for multiple millions of Americans.

[@garrettcole2251]

I have very bad news, the economy is hanging on by a thread. New shipping deals are happening now. More latin american trade partners are focusing on China and India. Saudi Arabia is.not supplying oil for American companies.

[@rogerstarkey5390]

The US (and most of the Western) economy "Titanic" is SINKING. The system is UNDER WATER and the lifeboat is NOT owned by them (us) Check the latest from VW in Germany Now proposing multiple plant closures, redundancies AND wage cuts for those who remain. . Who was "Capitalised over"? . Now of course the unions are proposing Strike Action...... Are they MAD? Meanwhile... "The Band plays on"

[@spencerableman2281]

thanks for the hope, mr. wolff

[@faizalmacho8960]

LOVE WHAT PROFESSOR SHARED GREAT BRITAIN AND GREAT AMERICA???

[@Trace-l7k]

Thank you for your clear understanding and the ability to share it. I only wish more deciders would come to understand. But they enjoy the facade.

[@ralphotero8532]

Superb analysis of the problems with the American economic system, and brilliant suggestions to fix the problem.

[@jgalt308]

What were those, exactly? Name 3!

[@ryan-el9er]

@@jgalt308​​⁠​​⁠1)) reverting to 1960s corporate taxes which was 52% (today it’s 21%) and using the enormous increase in taxes to be able to provide jobs for everyone (i did the math. this is very easy so if you want the math, let me know). 2) president can freeze wages and prices on products as solution to inflation temporarily while we solve whatever issue was going on that led to the inflation at that point in time 3) not letting the corporations avoid taxes by being given the opportunity to lend it to the government which just gets paid for by the everyday american in the form of taxes. were you not listening to the video?

[@jgalt308]

​@@ryan-el9er You got math? Like the math that shows decreased tax rates increase revenue? Or did you skip over that part? That was the lesson of the 60's...and it's learned with every tax cut. But some people never seem to learn. Wage and price freezes simply reduce supply and then jobs...that was the lesson of the seventies. It also didn't solve any problems, since that decade doubled the inflation rate of the previous 3, and capitalism was dead...as it was effectively doomed in 1934, it just takes a little time for the effects to catch up. Corporations don't pay taxes, the consumers that buy their products do. Eventually, people stop buying what they can't afford, or go into debt. The corps then go out of business. This country wasn't founded on the idea that government should give them things, but that it should stay out of the way so the things could be gotten on their own. But neither history nor economics is Wolff's area of expertise...his specialty is moral posturing. Anyway your 0 for 3, but keep trying...although maybe you should read a few actual history books before you do.

[@jgalt308]

@@ryan-el9er You got math? Like the math that shows decreased tax rates increase revenue? Or did you skip over that part? That was the lesson of the 60's...and it's learned with every tax cut. But some people never seem to learn.

[@jgalt308]

@@ryan-el9er Wage and price freezes simply reduce supply and then jobs...that was the lesson of the seventies. It also didn't solve any problems, since that decade doubled the inflation rate of the previous 3, and capitalism was dead...as it was effectively doomed in 1934, it just takes a little time for the effects to catch up.

[@harbinger6562]

Good afternoon Prof Wolfe ❤️🇺🇲🦾😇

[@sakai101yahoo9]

On behalf of the hardworking US taxpayers, Congress has given a standing ovation to the Genocidal Leader.. 👏👏👏

[@micamika8844]

A big shame for the Us and very dumb !!!

[@63saruman]

$$$$$$$$$

[@an0therdimensi0n99]

a genocidal leader who is IN BED with trump, i might add

[@chriswong9158]

To, from the US taxpayer of Democracy whom voted those Congress Rep. to office.

[@63saruman]

It is too late to get rid of those two major candidates and start anew 😞

[@grahambell8760]

Thank you. This was helpful. I voted.

[@patriciakeyes-v4t]

what a wonderful intellect !!! thank you Prof. I hope it is not wasted !!!!! multo gratias amen

[@eymaslacker]

21:25 "We are spending money to sustain the illusion" - > Prof got it right on the money

[@michaelneedsgrace]

Bush 40 election was the same thing. They never discussed the bank crisis during the campaign even though they knew about it.

[@craigzdyb390]

Richard D. Wolff. One of the greatest elephant hunters of out time! He always manages to find the elephant in the room...

[@PROFESSORFUGITOID]

AMERICANS SHOULD VOTE FOR CHANGE - VOTE GREEN PARTY - 💚 - JILL STEIN!

[@DouglasRamirez-dj7sd]

LOL. I don't understand the idiotic Kamala Harris slogan. " We're not going back." Going back to $ 2.00 / gall. gas ? Groceries being hundreds of dollars LESS expensive ? Not starting any new wars ? Everything was better to when Trump was President 💯

[@ricardoosantos100]

The problem is the BILLIONAIRES.

[@ricardoosantos100]

@Marie-rd1se Yes, but greed leads to inequality and billionaires. Billionaires are the result.

[@tenmanX]

​@Marie-rd1seand @ricardoosantos100 Neither billionaires nor greed is the problem. The former is a symptom while the latter is a human characteristic. The problem is this economic system that turns both into cancerous tumours on the society.

[@mariaemoody]

What if no one was allowed to make more than 1 million a year? Maybe they start to focus on what they are contributing to society rather than the size of their bank accounts

[@andreah6379]

OHHHHH! Ding. DING. D-I-N-G!

[@stephenlopiano1599]

I am not so optimistic and hopeful about the future. When I was born in the 1950's the population of the world was only 3 billion people, today we are over 8 billion and no end in sight. If anything is the death of capitalism unsustainable world population growth is the assassin. Ironically this seems like a juggernaut to me since the conservative right political stance in popular support these days is more people and larger families to make the economy grow. The preservation of capitalism to work naturally and successfully is so dependent upon a bountiful supply of resources, yet working against this is excessive population growth that will lead to depletion and the inability through the natural cycle of the earth to generate replacement resources for those consumed. The conservative right is fully in support of capitalism yet shoot themselves in the foot believing that population growth is the only way to create economic growth. Despite a lot of the controversy about China's one child policy, that seems to me the best action and approach to save capitalism from becoming obsolete in a world where unsustainable population growth will lead to destructive consequences for humanity. So far as people having jobs I do not understand where there is a problem at the present time. Unless we are being lied to the reports on unemployment are 3 to 4% right now, that is very low and probably the major cause of slight inflation. The workers right now have never had a better opportunity in the work place to bargain for higher wages with unemployment so low and a shortage of labor. Yet if slight inflation is the price you pay for low full employment, I'll live with that so long as inflation does not get totally out of control leading to hyperinflation. I guess that during the Hebert Hoover and Roosevelt era there was no inflation and the opposite deflation, people complaining about inflation right now should beware of the alternative, deflation usually takes place in severe economic recessions and depressions when unemployment is over 10%. I see ugly scenes in major cities of encampments with homeless people yet a large proportion of them are unemployable due to illegal drug abuse, something that is a personal choice that no one except that individual can do to change their situation. Employers cannot hire someone to work on machinery if they show up for work all doped up, they could potentially get themselves seriously injured if not in a state of mind where they can think clearly. You might blame a corrupt and dishonest disease spreading through a society that allows so much illegal drugs to destroy so many lives as the problem here, the solution is people changing their attitude, give up the solicitation of illegal narcotics to make a quick buck and find an honest and constructive way to make a living. As a radio station used as the stations' motto when I was a teenager "Be big, be a builder", unfortunately we have too many people with a destructive attitude.

[@Papawcanner]

Populations will take a downturn .The overpopulation myth was destroyed decades ago when Marx debated Malthus .

[@claudenobles779]

This is the Wisdom of an Elder not an older.

[@jgalt308]

The wisdom of a corpse since Marx has been long dead.

[@ryan-el9er]

@@jgalt308you’re really butthurt from this video. how many comments are you replying to? 😂😂

[@jgalt308]

@@ryan-el9er All the stupid ones...which seems to be all of them, but most replies are blocked. As was the actual response to this nonsense video...and probably my other reply to you... although they essentially covered the same ground.

[@ryan-el9er]

@@jgalt308 anyways, you said “name 3”. i named 3. you didn’t say there was any other criteria associated that would satisfy you when you said to name 3.

[@jgalt308]

@@ryan-el9er And I destroyed all three...had to break up the blocked post into 5 separate ones... so you named none...and nothing new from Wolff...as they have all been destroyed previously many times...and I didn't ask you.

[@williambishop8101]

I voted for a candidate that wants to solve these problems: Jill Stein!

[@lylealexander4861]

A vote for Stein is effectively a vote for Trump. Vote for whom you know is going to enact policies that will help the most people. It’s not Stein because she cannot win.

[@MickeyStone-h1y]

People in America are in denial about the inequality and huge wealth gap. When stores have to put soap toilet paper paper towels etc behind lock and key that isn't crime out of control because that's a sign people are hurting financially.

[@basheersujeevanam6319]

Thank You dear sir, please inform us about our simple polite contribution to your initiative which we think that it noble, relevant, holy, timely and humane. I am a veteran, pensioner of Kerala, India.

[@limitisillusion7]

Unemployment is the logical expectation of wealth inequality. If the economy funnels money to a small portion of the population, that portion can't consume the amounts of goods and services that the masses consume. Give a billion dollars to 10,000 working class citizens, then give another billion dollars to 5 billionaires. The working class will spend most of that money on goods and services, and save/invest a little. The billionaires will spend a little on goods and services, and save/invest a lot. The money spent on goods and services keeps the businesses alive and enables them to keep hiring and producing. The money that goes into savings does nothing. The money that goes into investments has the capacity to help businesses, if and only if people are able to purchase the things those businesses produce, otherwise, there is no use for the investments. So in other words, money must be spent on goods and services to keep the businesses alive and to keep unemployment down. If money is being distributed in such a way that too much of it is being saved or invested, then people can't spend it on goods and services. The 10,000 working class citizens might buy 10,000 TVs with that money, but the 5 billionaires have no use for 2,000 TVs a piece. No matter what way you cut it, the 5 billionaires can't consume what 10,000 people can. If you create dependence on wage labor and _then_ take away the majority of the population's purchasing power through massive wealth inequality, you will collapse the economy because people won't be able to consume what is being produced. Profit-driven capitalism will consume itself.

[@HamTeddy26]

I keep trying to ask, “If a large amount of people don’t have the power to buy any thing, then how will the wealthy continue to be?” I’m down to watch the wealthy eat themselves after we’ve died of starvation.

[@as3346]

love it

[@as3346]

they're just dumb rich

[@sl-lz3dw]

At the end of the 1st half, I'm reminded of James Rehwald's short clip here on y.t. called "Voting in the United States under Capitalism". Part Two gets Really Good though, with the suggestion of using political will to solve our problems in ways that we solved them before.

[@bargdaffy1535]

What we should expect from either of them....Absolutely Nothing.

[@NoCensorship]

Corporations need to pay more taxes

[@Chucku153]

There are 3 tax codes. One for corporations. One for the Rich and the One for the rest.

[@mariaemoody]

And no CEO should make more than 1 million a year...its just unnecessary greed

[@farhadmahdabi3512]

A revolutionary idea.. Let somehow each American tax payer know where his/taxes goes... I beleave Germany has something like that. I was the computer system project leader at Chrysler Corp. I designed the ststem that provided Chrysler employees with a comprehensive Benefit Statement informing them with the $ value of all that they earned by working for Chrysler Corp. The $ value of the earned vacation, value of health package and etc. I strongly beleive that if Americans know the $ value of each gov expenditure they with understand it, comprehend and digest it and hopefuly oppose it. $1T defense budget, e,i; app. $10,000 per tax paying Americans. And.. $100B for Ukrain = $1,000 per tax paying Americans. And so on. AMAZING

[@BrandyHeng007]

Military Wars prioritize over Economics

[@inb2551]

Always on point 👍

[@svlonestar7645]

I've been through 4 recessions since 1980, and was layed off for everyone of them.

[@oldmanwinter3597]

Whomever wins. We all lose.

[@robinsonrochelle7033]

Thank you!

[@Ma_X64]

Just list some years when USA was not invading somewhere! :D

[@kianleyon6613]

Tax the rich and corporation to pay their fair share.

[@singingway]

Also... the problem that the digitization of financialization has made corruption easier and globally connected like a worldwide mafia

[@stoneneils]

And opposite is true for the average person. It used to be very easy to skirt taxes, work under the tables, etc...today its not nearly as facile...to borrow a word from the french.

[@tarajoyce3598]

Trump's "no taxes on tips" will redefine tip to include yearly bonuses. This is not for the waitress. It is for the CEO, CFO and other such individuals.

[@jillfryer6699]

$25k to poor first home owners is just to use them as place holders till it’s time for the right person to pick up that property at a good price.

[@greatestone4eva]

bless up Professor 🙏🏽

[@mernawells7839]

I love your work and delivery, Professor Wolf, i enjoy istening to all your interviews. Thankyou for your great insights, particularly your interdisciplinary understanding of ecinomics and psychoanalysis. Thank you for educating the world.

[@DawnLowery-or8se]

That’s all well said yup!

[@adrianmorris5546]

Profesor Richard Wolff you are such a brilliant analysist and economist we all learn so much from your brilliant analysis

[@denisebryank8152]

YOU, …I suspect have just given a molecule of hope to hundreds. I often listen, but I’ve never heard you, deep in my soul (election results) from the bottom of the bottom hopeless well. Keep on,….Keeping On!!!!

[@AJColasurdo]

Love the channel and the conversation! This is what unbiased looks like, gives me hope for humanity 😂❤

[@LaraCJS]

Thank you for telling America the truth.

[@bonegrubber]

I'm writing in Richard Wolff

[@michaelloong964]

Professor Wolff, can you please explain how China , from a very deprived and poor country 70 years ago and now become a space age country with high tech industries and sending space module to the moon to collect moon rock, and become the largest EV producer in the world? Can such miraculous economic achievement be replicated in another poor country within 70 years?

[@tigeragri5355]

American presidential election is not PEOPLE'S ELECTION It is LOBBY 'S ELECTION 😂😂😂😂😂😂

[@jerry2780]

We need to send Richard Wolff KZbin videos to our federal congress people.

[@RattyA.]

Nobody says it so well, so clearly, so factually, or as honestly as Richard Wolff.

[@reneb5408]

Thanks Professor Richard Wolff, my question is: Why do Americans want to be cheated? As what you are saying is nothing new and your “adversaries” in Asia and the Global South are doing just that and you can see it, FOC.

[@AretiSpyropoulos]

There are so many parts of the US that are broken as an economy a society and a geopolitical global presence it's difficult to know where to begin the repairs so to speak. Same applies to capitalism. Coincidence?

[@chuggalueroifan]

This personally my favorite D@W video made so far

[@astralab-d1]

Listened to Market watch on NPR today and immediately thought through all the obfuscations and contradictions. Because knowledge is not open, it leaves all this space available for word and thought manipulation that has little to no basis in real, verifiable data. It’s like story telling hour for adult children.

[@harichandrakhandate4582]

I Hit 250k today. Appreciate you for all the knowledge and nuggets you had thrown my way over the last months. Started with 24k in July 2024

[@harichandrakhandate4582]

This must be an investment with Mrs Geraldine Ann Philip

[@ElenaChavez-eb4cr]

Wow! Kind of in shock you mentioned expert, Geraldine Ann Philips. What a coincidence!!

[@Cecilia23-k6i]

⠀ She helped me recover what I lost trying to trade myself

[@Cecilia23-k6i]

Geraldine Ann Philip understanding the market indicators is impressive. She knows exactly when to enter and exit trades for maximum profits. her siignals are top notch

[@ElenaChavez-eb4cr]

That's amazing, I've seen different people talking about this Geraldine Ann, she must be a cool woman for people to talk this about her,how do you people earn money?

[@adrianthompson7033]

A really informative and helpful podcast Richard, thanks.

[@lawrencechong237]

Get trump as president and hell will break loose in US.

[@Nemesisnxt]

I certainly hope so.

[@Riggsnic_co]

The U.S. economy can actually get better if only the govt can start making better decisions for the sake of it's citizens, cos' they've really made life more difficult for its residents. Hyperinflation has left the less haves bearing the brunt of the burden. Its already eating into my entire $620k retirement portfolio. Like where else can we invest our money with less risks?

[@kevinmarten]

Just get a financial planner straight up! personally, I would invest in etf and also love investing in individual stocks. yes it’s riskier but I'm comfortable in my financial environment.

[@JacquelinePerrira]

I agree. Exactly why I now work with one. A lot of folks downplay the role of advisors until being burnt by their emotions, no offense. I remember some years back, during the covid-outbreak, I needed a good boost to stay afloat, hence researched for advisors and thankfully came across one with grit. As of today, my cash reserve has yielded from $350k to nearly $1m

[@Jamessmith-12]

How can I reach this adviser of yours? because I'm seeking for a more effective investment approach on my savings?

[@JacquelinePerrira]

'Carol Vivian Constable, a highly respected figure in her field. I suggest delving deeper into her credentials, as she possesses extensive experience and serves as a valuable resource for individuals seeking guidance in navigating the financial market.

[@Jamessmith-12]

She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.

[@mattk-kf9fx]

Great job in identifying the issues and highlighting a solution. I wholeheartedly agree with your suggestions. Unfortunately it is impossible to unscramble an egg. Corruption is rife through every facet of American society. There is absolutely zero chance now of being able to unscramble the egg and go back to a 60’s - 70’a tax regime. It simply won’t happen. There is too much at stake. Greed has seen America rot from the inside out..

[@MTXMTX-oj6yn]

That profound change into the state of equality, do speak;... Politics matters. Thanks...!

[@CKGamingChannel-w2o]

The cheaters get away with it all, while the normal saint pays the price.

[@aliceyingshan2725]

The Green Party, the Forward Party and the Constitution Party are all on the ballot in Pennsylvania. So's the Libertarian Party. I'm going to vote for one of those.

[@as3346]

waste of voting,if not enough vote that way. It's purposely a two party

[@as3346]

waste of vote, if not enough people vote that way. Purposely, only two parties.

[@alvaroramos9069]

Public banking + Worker Cooperatives + Local Governments

[@janetteyeap]

Thanks!

[@Chucku153]

VOTE FOR JILL STEIN FOR A NEW BETTER AMERICA

[@Weiner-Worm]

It wint happen. First set up a system if nationwide ranked choice voting, THEN vote for your 3rd party candidates

[@murraymadness4674]

@@Weiner-Worm lol like the two parties will allow that to happen. The whole usa system must be ended. States must become independent and be their own countries with their own laws. The bad ones people will leave.

[@Weiner-Worm]

@@murraymadness4674 I honestly don't disagree with you, I too say each state should be it's own country. I seriously doubt that will happen, but it would be for the better I believe.

[@murraymadness4674]

@@Weiner-Worm the alternative is we elect people that are not capitalists. that won't happen either. what is most likely going to happen? a state will not follow some usa rule that trump and scotus agrees with. the state does not enforce it, trumps sends in troops to force it. look at oregon during blm. it can end like northern ireland too, or south africa did. violence is assured if voters fail like they do in the usa.

[@jgalt308]

@@murraymadness4674 Congratulations...you just discovered the "original intent"... now all you have to do is figure out how it was lost or taken from you.

[@georgechyz]

Dear Mr. Wolff, Why don't you point out the fact that the USA could eliminate the need to borrow money by shutting down the quazi-private Federal Reserve, replacing it with a National Owned and Run Central bank and then printing US currency. In fact with such an arrangement loans to US citizens could be interest free! No national debt and interest free loans would go a long way toward improving our economy. But for some reason you never talk about that. Why?

[@Helen_white1]

The current economy is unnecessarily tougher for some most people, myself included. I’m used to just buying and holding assets which doesn’t seem applicable to the current rollercoaster market. Plus inflation is already catching up with my $310k portfolio. I’m really worried about survival after retirement.

[@Agatha.wayne0]

The government has let us down; just buy gold.

[@Grace.h-t8o]

Yeah, I’m also closing in on retirement, and I have benefitted much from using a financial advisor. I didn’t really start early, so I knew the compound interest of index fund investing would not work for me. Funny how I pulled in more profit than some of my peers who have been investing for many years.

[@Theodorebarba]

Hey, this caught my interest. I worry that I have a couple more months before retirement, can you share more info?

[@Grace.h-t8o]

Stacy Lynn Staples is the licensed CFP I use. Just research the name. You’d find necessary details to work with to set up an appointment

[@berniceburgos-]

Thank you for sharing, I must say, Stacy appears to be very knowledgeable. After coming across her web page, I went through her resume and it was quite impressive. I reached out and scheduled a call

[@johanan62]

I totally agree with your analysis of the present situations in America