The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenbook. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...
@BellamyGriffin19Ай бұрын
They do say gold will crash in a liquidity crunch However, many of those holding precious metals are preparing for such an event. So they are unlikely to be forced sellers. The paper market would tank and hopefully collapse.
@SandraDave.Ай бұрын
Hearing from an experienced investor who has survived adversity and prevailed is always motivating. It may be frightening when your portfolio goes from green to red, but if you have invested in strong firms, you should maintain growing them and stick to your goal.
@PaulKatrina.Ай бұрын
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
@HectorkanteАй бұрын
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
@PaulKatrina.Ай бұрын
I've shuffled through investment coaches and yes, they can be positively impactful to an individual's portfolio, but do your due diligence to find a coach with grit, one that withstood the 08' crash. For me, Melissa Terri Swayne turned out to be better and smarter than all the advisors I ever worked with till date, I’ve never met anyone with as much conviction.
@momo365422 ай бұрын
More Americans should listen to this instead of listening to the politicians and mainstream media. Good job Professor!
@abulazad78382 ай бұрын
Time and Space are Divinely Ordained finely balanced in nature with the unseen, intangible progress of our nature, life and living in and around us with its stream of knowledge, experience and wisdom and the other is the tangible, seen evolving world arrogantly restraining the natural order. The two streams of knowledge should be integrated in a harmonious whole. Evil and good are apart of nature so we choose the least of evil, if forced widen the distance from evil and choose the best of good and strive to enhance and character a straight path to achieve Time and Space encompassing absolutely object Truth which reciprocates to establish substantive tangible return. In a nutshell, the Learned Professor finely articulated only the seen world as knowledge not consider human history the money with integrity holding intrinsic and storage value are not equal to advancing virtual fraudulent monetary system and its resources.
@Richard-ki4nkgm2 ай бұрын
Wolf, and many collectivists, explain the problem well. But the solution they offer is probably just as bad....maybe worse. They want money to be a thing created and manioulated by the government under the guise that its for the citizens. But when money is controlled by the government the people in government will use this to further their power and control over the population. We have never had capitalism because bankers have controlled money and with this they also controlled pollititions and information. If there was a hard money, with a set supply, that couldnt be modified, then maybe we could see the result of capitalism. But when bankers "secured" peoples gold (a mildly inflationary hard money) they created more paper money than accounted for (fractional reserve banking, ie fraud). Through this fraud, some bankers were able to buy real resources and influence. They created a central bank in agreement with the government, which ultimately lead to endless money printing which leads to more 'stolen' resources and backdoor deals. So the solution is a hard money that cant be rehypothecated and countless derivatives created... unless you like the debt slavery. This money does not exist. Gold requires centralization and custody. Bitcoin does too. But ultimately any solution requires people to understand that money must not have controllers of the system. The controllers must be all the people so they need to understand these foundational ideas.
@CarlGerhardt12 ай бұрын
Just because politicians want more and more money to buy votes with(!)....zoinks!
@mariabelaev64902 ай бұрын
I do not see that. What would you rather, have everyone live in caves? I would rather live in a small appartment (which is, still, much more comfortable than the one l lived in in Soviet Union) and have the capitalists live in mensions, if they want to..... I would rather have the luxury and be considered poor, than have nothing and be considered average. It is just much more comfortable this way
@charitomunoz85372 ай бұрын
Time to talk about who receives the interest payments.
@uturniaphobic2 ай бұрын
They're called Bonds but the the real word is bondage. they sell our bondage and collect it in the form of "taxes".
@kennysamuel68362 ай бұрын
Professor Wolff, you a natural born teacher. Your work is highly appreciated.
@henrygustav79482 ай бұрын
Prof Wolff, lying to the left.
@scroopynooperz90512 ай бұрын
Behold.. the Wolff of Main Street. The prof is tireless - wonder what his secret is.
@jgalt3082 ай бұрын
@@scroopynooperz9051 Avoiding any real work.
@sven86332 ай бұрын
Appreciated by communist garbage. He is correct that the current state of the West is broken. However, is fixes are what is causing the breaking. More government control is the problem. Ends the federal reserve and 90% of the problem vanish. Without printing press your van future bank roll war, bail out corporations. Grow government beyond is intended power levels. Communism always leads to the exact same failure. Oligarchs and corrupt politicians controlling everthing.
@M.M.Alam.Liberty2 ай бұрын
Among the best and honest scholars is Dr. Wolff. Thanks
@bluewater4542 ай бұрын
Now that is funny.
@budrollin2 ай бұрын
@@bluewater454you may die a virgin
@joshanderson73582 ай бұрын
Dr Wolff. Tardis, Dr Wolff.
@daniellahootian64872 ай бұрын
Thank you professor. regards from Sweden ❤
@TankGump962 ай бұрын
Prof Wolfe is the greatest. Thx for devoting your intellect and hard work to the enhancement of mankind’s well being. Your selflessness is admirable❤
@alansharp15282 ай бұрын
A top quality presentation, and every word true. Many thanks.
@mcmxli-by1tj2 ай бұрын
Wolff at his best!
@82boulou2 ай бұрын
This video should be taught in schools across the globe.
@jillfryer66992 ай бұрын
Absolutely. Be sure there's not still be places where you'd be sacked if you got caught showing it. Worse than porn.
@jgalt3082 ай бұрын
They have been trying...it's all government propaganda, so it's just a matter of which criminal government you are being ruled by.
@jakerivets22492 ай бұрын
That's not what our schools are for
@jakerivets22492 ай бұрын
@bully3808 You made a fundamental mistake when you assumed I was a conservative. Our schools mainly serve to indoctrinate students with capitalist propaganda. Your knee-jerk reaction to my incontrovertible first comment is a testament to how successful that indoctrination has been.
@HuxtableTV2 ай бұрын
It is not taught, as it is inside knowledge. It is not considered a good thing if simple peasants, like us, see through covert trickery. 🤨😟🙁😲😢
@David-ro7gm2 ай бұрын
One of Professor Wolff's best presentations.
@greatestone4eva2 ай бұрын
thanks for doing what you do Dr Wolff. bless up.
@JessicaCooper-m4i2 ай бұрын
Thanks!
@ZoomedOut20202 ай бұрын
Very well done Dr. Wolff… Thanks to Lena for the suggestion..❤❤❤
@HuxtableTV2 ай бұрын
❤
@CarlGerhardt12 ай бұрын
Dr. Wolff explained this every bit as well as Ron Paul has!
@carlitaticconi66552 ай бұрын
There is no doubt that the government is serving the corporations and the rich but it's also important to remember the effect of the money printing, fueling asset bubbles and inflating away that debt by making us work much harder for necessary goods and services.
@ScratchGolf24302 ай бұрын
Exactly businesses are passing the costs of doing business onto there employees instead of lords and surfs we have employers and employees!!!
@carlitaticconi66552 ай бұрын
@@ScratchGolf2430 That is true but all of us, employees and non, must contribute to paying interest on government debt, through both taxes and also through devaluation of our currency as the money supply is massively inflated in order to manage those debts and all of us are forced to work harder to purchase what we need in a currency with far less purchasing power.
@HuxtableTV2 ай бұрын
Taxation explained the best, ever. Yes. Another facet is the monetary system, explained by Mike Maloney so simply and brilliantly.
@Richard-ki4nkgm2 ай бұрын
Wolf, and many collectivists, explain the problem well. But the solution they offer is probably just as bad....maybe worse. They want money to be a thing created and manioulated by the government under the guise that its for the citizens. But when money is controlled by the government the people in government will use this to further their power and control over the population. We have never had capitalism because bankers have controlled money and with this they also controlled pollititions and information. If there was a hard money, with a set supply, that couldnt be modified, then maybe we could see the result of capitalism. But when bankers "secured" peoples gold (a mildly inflationary hard money) they created more paper money than accounted for (fractional reserve banking, ie fraud). Through this fraud, some bankers were able to buy real resources and influence. They created a central bank in agreement with the government, which ultimately lead to endless money printing which leads to more 'stolen' resources and backdoor deals. So the solution is a hard money that cant be rehypothecated and countless derivatives created... unless you like the debt slavery. This money does not exist. Gold requires centralization and custody. Bitcoin does too. But ultimately any solution requires people to understand that money must not have controllers of the system. The controllers must be all the people so they need to understand these foundational ideas.
@microbe_rz37-rn1dk2 ай бұрын
When Wal-Mart pays .05 cents for a garment and sells it for $12 in the US, what's that? Definitely asset inflation. Yet, no inflation metrics exist for it. If Wal-Mart actually paid a living wage to the garment maker, the sell price of the garment would shoot up astronomically.
@HuxtableTV2 ай бұрын
Thanks for the comprehensive, concise and lucid explanation. It is enlightening in an effortless way and we LOVE it. 🥰
@breft34162 ай бұрын
The truth is agonizing, isn't it? Thanks, Professor!
@HuxtableTV2 ай бұрын
Exasperating and frustrating. As it is skewed, leading to long term disaster, the question is: how to correct it. It is complex to figure it.
@hesaqehusen2 ай бұрын
Thanks D'r Wolff for your briefing me
@ourchaneayoub28772 ай бұрын
Thanks pr Wolff for all your efforts and way how you break it down it’s just stunning
@jgalt3082 ай бұрын
Yes, unbelievable, really...
@Dyk9492 ай бұрын
What is the best way to make money from crypto trading?
@ron.porter.102 ай бұрын
As a beginner, it's essential for you to have a mentor to keep you accountable. I'm guided by a widely known crypto professional.
@ron.porter.102 ай бұрын
The professional is Ms Olivia Harlow
@SteveJacob2322 ай бұрын
Crypto is the best future where people make money and generate good returns.
@Silver-p3y2 ай бұрын
There's literally no restrictions on her platform. I am equally investing from Australia
@mercelesandaniel2 ай бұрын
This sounds very good. How do you do that? I am interested, how do i go about getting started?
@mohammedaldhufairi97982 ай бұрын
This is the first time I'm able to perceive such an amazing lecture as it's presented in simplest organized way and I would encourage Dr. Wolf to made all of his shows simple with dictionary as needed to us. What stood out most to me is the ACT that exclude the billionaires and corporations from paying tax, if my understanding is right, but on the other side, when we watch other shows we could realize that other corporations are paying taxes or have cases in courts, if any, as tax evasion. So, how could we understand that corporations are not paying taxes, would .you please clarify it to us
@jbgant85132 ай бұрын
Professor wolff is fantastic. His explanations are undeniably true. I feel as if I'm breaking some law just listening. It's impossible to deny or misunderstand what is being said. Thank you and Bravo
@The1Elcil2 ай бұрын
Unfortunately his notions about debt, borrowing, and taxes expired long ago. Most countries use "printing" no body is "loaning" USA to be the imperial colonist that it is. The money is fake and used to push the agenda of the power brokers. Modern monetary theory is what it's called. The "budget" is a hoax.
@jgalt3082 ай бұрын
Capitalism is not a form of government...so much for your undeniable truths.
@The1Elcil2 ай бұрын
@@jgalt308 galt wrong as usual. it is a form of government just not how you want to define the term to play your word games.
@jgalt3082 ай бұрын
@@The1Elcil It's not how the term is defined...no word games required.
@henrygustav79482 ай бұрын
@@jgalt308 It is the form of Govt that matters.
@godfatherofcinema2 ай бұрын
Fantastic analysis, Mr. Wolff, I’d really appreciate it if you could do an entire show on the lottery I always tell people you never see rich people winning the lottery because they don’t play the lottery
@micnorton94872 ай бұрын
EXCELLENT POINT 💯,, did you ever notice also the rich NEVER have healthcare insurance,, because statistically they're better off paying cash than dealing with a scam ass insurance company?
@user-zy4wv7yx1z2 ай бұрын
Good suggestion. I was talking with the woman working the service desk at my local Meijer. She said some people buy lotto scratches, and they don't even scratch them. They buy them and immediately scan them to see if they won. Very sad, yet another addiction to keep the poor people poor
@PoliticalEconomy1012 ай бұрын
Every war is a banker's war!
@micnorton94872 ай бұрын
🎯🎯🎯
@timevaporwave2 ай бұрын
The only point of US imperialism is to enforce the US dollar as the world's reserve currency. Without the military, everyone would see our economy for what it is: a banana republic.
@tuhingatoha11342 ай бұрын
If only I had you, Mr Wolff, as my economics teacher all those years ago....NZ would not be in the position we are today.
@yanmuikam61602 ай бұрын
Thank you for this presentation. It's easily understood even to layman like me . Very entertaining too !
@devronfallen2 ай бұрын
The truest thing ive ever heard. Highly recommend this video.
@malchirt2 ай бұрын
the facts stated in this video make it a real highlight amongst EU episodes in my opinion.
@richardbryanesq2 ай бұрын
Keep up the good work!
@mygoodsir5392 ай бұрын
This is a very good talk
@jeffdorris53212 ай бұрын
Something he forgot to mention is that most bonds are tax free profits. Meaning that you dont have to pay federal taxes on the interest earned from the Bonds that you own. From loaning the government money.
@HuxtableTV2 ай бұрын
No wonder, that ordinary peasants like us, are no match. We don't have treasure islands either.
@CarlGerhardt12 ай бұрын
Well, that would only be state and local government bonds, (and now, also some 'private' bonds that 'serve a public purpose'). Corporate bonds are still almost always taxable.
@angelicafrancisco39432 ай бұрын
We are all stuck , between a rock and a hard place in this years 2024 election between two hustlers . We have all been bamboozled .
@alvarny772 ай бұрын
It's not a matter of candidates, it's their donors. They can fund a few more candidates if you want and still nothing will change.
@nicklebuck2 ай бұрын
Get out of the city, start a homestead, and arm yourself. There are criminals running this country. Becoming aware is step one, fighting back is step two
@nicklebuck2 ай бұрын
Wish I could comment.....
@carlosdesousa67122 ай бұрын
👏🏼👏🏼 very well explained. 👍🏼
@mostly_harmless12 ай бұрын
Vielen Dank Professor.
@thomsghost7692 ай бұрын
Mr. Wolffe is awesome. A gem for anyone who desires being enlightened about our economic/capitalist system. It is a tragedy that the folks in charge of the levers of power in our economic system, seem to care nothing about the facts presented by this wonderful man.
@mrjones94972 ай бұрын
Excellent show. This explains a lot about government debt and deficits. Certainly, there needs to be a roll back of the Trump tax cuts ASAP.
@shawnshamim17562 ай бұрын
Education is key to empower citizenry to understand how gov functions
@CarlGerhardt12 ай бұрын
Yes, especially learning where our 'money' actually comes from.
@banurobymusic2 ай бұрын
Amazing episode
@jgalt3082 ай бұрын
Absolutely MYTHICAL!!!!
@JustKrush272 ай бұрын
Thank you professor for a very informative video
@patriciacvener19682 ай бұрын
Brilliant. Let's do something positive with this information!
@stephen_pfrimmer2 ай бұрын
Thank you Dr Wolff.
@billfrenger89552 ай бұрын
Thank you Professor Wolff. How much of the government debt. is from military and war spending? Why don't the American people have a say in how much is spent for military and war?
@marycollins82152 ай бұрын
Love that energizing intro music.
@elitorres11922 ай бұрын
God bless professor. Thank you for what you do.
@hardonia19432 ай бұрын
I love your lecture! It is so pedagogic and contains very essential knowledge!!!
@daniellahootian64872 ай бұрын
tnx for teaching. regards from Sweden ❤
@jillfryer66992 ай бұрын
Thanks Prof. Bit by bit we are getting it all together. Hope we not too late.
@dopaminey99462 ай бұрын
We the people must learn to organize once again and learn that we deserve a decent life. To understand our govts is revolutionary
@jgalt3082 ай бұрын
And who do you imagine is going to provide it for you?
@dopaminey99462 ай бұрын
@@jgalt308 US. Who else but us.
@jgalt3082 ай бұрын
@@dopaminey9946 Then "deserve" has nothing to do with it.
@oafish39892 ай бұрын
@@jgalt308 do you know what deserve means?
@jillfryer66992 ай бұрын
Understanding is only the start. Why you should have to fight for something you deserve is a drag. Maybe its better to say you WANT a decent life which is totally reasonable and you're going to organise to fight for it. Also reasonable. Leave issues of the deserving and undeserving and whats owed to whom for what somewhere else, a time wasting distraction for the waste paper basket.
@257.4MHz2 ай бұрын
When printing money, the people who first have access to it get to use it in the uninflated economy, then it loses value with each next use
@naimrashid39082 ай бұрын
Great show
@JulesWinnfield9112 ай бұрын
May God bless you Richard this was such an important video
@prasadmulupuri87142 ай бұрын
I wish there are more public spirited economists of the genre of Prof wolff.
@micnorton94872 ай бұрын
Yeah me too 👍🖖
@SamsonAlemayehu-s4k2 ай бұрын
I always respect you
@Breakfast_of_Champions2 ай бұрын
This is my prof🤩
@mohd.sufianbinhassan56232 ай бұрын
Professor Wolff, can you make a video on what would happen to the US mounting debt? I am from Malaysia and I would like to know. tq
@peggykarp2 ай бұрын
Great show! I'd love to hear Professor Wolff do a follow-up program on how the US borrows from other countries, eg China, and how that affects us.
@rjacobsen02 ай бұрын
Will you do a segment on Modern Monetary Theory and how Democratic Socialism sees or interacts with MMT? I'm curious. Or will you refer us to reading material for non-economists that might explain it? I already read Stephanie Kelton's book "The Deficit Myth". (Maybe you already taught about MMT?)
@henrygustav79482 ай бұрын
Professor Wolff has contact and access to MMT economists but he is a dogmatic Marxist. He has been preaching doom and gloom about Government finances for many many years. It would be embarrassing for him to switch gears and start talking about MMT whether or not he believes he is wrong.
@alleggett93542 ай бұрын
I have watched Prof Wolff for many years and he makes a lot of good points. His economic history discussions are excellent. He doesn't give MMT any credit that I've ever noticed. I have also studied MMT for several years and have a decent understanding thereof. I consider it to be a factual description of the way the federal monetary system works in the U.S. and quite a few other countries. It's a shame that he hasn't looked into MMT enough to discuss it. Warren Mosler is the grandfather of MMT and knows it inside and out. Stephanie Kelton is excellent and there are many others. It's worth learning and you will find it very enlightening!
@WarrenPeaceOG2 ай бұрын
@@alleggett9354 I agree. I had to stop the video after 8 minutes because it was hurting my brain. My baseline is MMT and the broad outlines of Keynes
@alleggett93542 ай бұрын
@@WarrenPeaceOG I think Warren Mosler could get through to him.
@jermainemyrn192 ай бұрын
We should only have a president like this
@leon3589Ай бұрын
Can we please get a follow-up video on other types of fooling taxes that we get? Like the Lottery and Tariffs. It would be useful to go into detail of all the scams that they do - things that don't pass off as taxes. Please!
@Mimicry1612 ай бұрын
This is fantastic. You explain things so well!
@oscargarcia34312 ай бұрын
Bravo Professor Wolff as always you nailed the topic.
@jgalt3082 ай бұрын
What's the topic?
@gerhard73232 ай бұрын
For self-serving prevailing narrative reasons, we're all encouraged to fixate on 'the public debt', but we should actually be fixating on 'the private surplus'. The latter being equal to the exact penny of the former.
@jillfryer66992 ай бұрын
So well said Prof. Scams all the way down. Its warming to hear someone like Prof Wolff say it. Its only painful when someone like me tells their friends 'why are you bothering with this lottery silliness? Cant you see, dont you know etc' "You gotta be in it to win it" is the response. Which is too close for comfort to "If you dont fight you lose." There's a lot of work to do. Have to buy those 3 books too.
@larrysheetmetal2 ай бұрын
YOU need to do a pod cast on the FACT that 95% of corporations on the stock market has managements that do not own 1 % of the value stock of the corporation AKA they no stake in if it's profitable or not !!!! because they have GOLDEN PARACHUTES, if the company goes under THEY WALK AWAY WITH BANK ACCOUNT FULL OF CASH AND WORKERS AND STOCK HOLDER LOSE !!! most stock holder are fund that have retirement money to invest.
@DANVIIL2 ай бұрын
Should have defined what money is because most people have no idea.
@faizalmacho89602 ай бұрын
LOVE WHAT PROFESSOR SHARED BRAVO RUSSIA AND CHINA. MORE PRESSURE MORE STRONGER. SHINING LIKE A DIAMOND
@davidluckens34792 ай бұрын
Back in 1987 Wallace Wilkerson ,whose main political consultant was the young James Carville,won the Ky Democratic Gubernatorial Primary by proposing a state lottery.Long story short,he won the primary in a major upset,and ofcourse,trounced the Repub candidate in the general election.Kentuckians got the lottery,which feeds off the dreams of our large number of low wage,poorly educated ,exploited class,which also pays a 6cent sales tax on everything except food and medicine.Ky is a concentrated oligarchy where the rich,and corporations pay very little in taxes in relation to what they extract from the people and the land.Don't even mention the Eastern Appalachian part of the state the Coal Industry blasted to smithereens with "Mountain top Removal to get at whats left of that resource.But,hell,we got the lottery-thanks for another probative lecture,Peace.
@Peace_Guard2 ай бұрын
So is the lottery actually double-funded, by the 6 cents of taxation + the lottery ticket prices? Or are the lottery tickets cheaper due to taxation, so it's a split like 50/50 or else?
@igorberest3436Ай бұрын
Здравствуйте. Спасибо за ваш труд.
@boogalaloopala27382 ай бұрын
'War is a Racket' by Major General Smedley Butler - 1935. There's an audiobook on YT
@ernestbellande28222 күн бұрын
Hello Prof. Wolff. Provided the leaders that call the shots in matters of economy, politics , hegemony ,etc. accept to listen to reason and take emergency steps to redress the course of the country; what do you think these steps could or should be and how long it would take to see a real progress?
@mohammadmossayebi26092 ай бұрын
Thank you professor
@BB-cf9gx2 ай бұрын
The government also monetizes the debt. (Prints money). I can't print money, can you?
@henrygustav79482 ай бұрын
The Govt can ONLY SPEND ONE WAY AND ONE WAY ONLY. There is no other way. You can print all the money you want, you however, can not print the US dollar.
@BB-cf9gx2 ай бұрын
@@henrygustav7948 I can't print money and you can't print money legally. But the Federal Reserve prints money constantly. They then lend it to banks and the government. The government can and does borrow from the Federal Reserve to pay its bills. (In addition to taxes).
@jodylynn8402 ай бұрын
@henrygustav7948 The goverent is the issuer of the currency. Everytime the Federal government spends it creates new dollars ! Richard Wolf is clueless!
@larrym24342 ай бұрын
You are savvy to one of the underlying principals of Modern Monetary Theory.
@Peace_Guard2 ай бұрын
@@jodylynn840 What are you talking about? Spending has zero to do with creating new money (and with inflation), totally different processes. You mostly print money to service debt. This way you devalue money in the economy and thus tax in a roundabout way. But it's a direct consequence of servicing debt, not spending. Btw. China has tons of government spending and zero inflation, year by year, with the highest GDP increases in recorded history.
@KoDeMondo2 ай бұрын
Three hundred trillion dollars. That is the record debt which global governments, households, financial corporates and nonfinancial corporates owed in June 2022, as estimated by the Institute of International Finance. The $300 trillion is equivalent to 349% of global gross domestic product, 26% higher than the pre-GFC figure of 278% (June 2007, see chart 1). The $300 trillion works out to $37,500 of debt for every person in the world, compared to a GDP per capita of just $12,000.
@micnorton94872 ай бұрын
Sounds about right, and SURPRISE SURPRISE,, while there's approximately 300 trillion in floating debt owed by all entities, you know where they all lead to? RIGHT BACK TO THE TOP 5% of earners,, the United States has been going steadily deeper into debt to the tune of what, 5 or 10 trillion dollars a year? Coincidentally enough, the 1% are grabbing probably 30 trillion dollars a year while the other top 6% grab another 15... It's a financial criminal La cosa Nostra where the financial sector criminals OPEN PLUNDER the world economy,, running the table on America and the world through the Federal Reserve and the international monetary fund...
@Peace_Guard2 ай бұрын
If it's owed internally between non-rent-seeking entities, like vast majority of China's debt, then it's fine.
@micnorton94872 ай бұрын
@@Peace_Guard Yeah what westerners don't understand is in a closed system like China or now Russia,, debt is handled by financial institutions with the object of increasing economic activity across the entire economy,, NOT to get a bunch of greedy psychopathic slobs rich... There is still some American or European style corruption in the Russian system but it's being allowed to grease the industrial machine,, unfortunately extremely driven people like the people who understand Mass capital resource exploitation tend to be sort of self-centered and greedy so a certain amount of latitude is being extended to Russian oligarchs who will keep their eye on Russia while still getting fabulously wealthy...
@DavidMoore9872 ай бұрын
*If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you...prevent inflation*
@EdgarBossen2 ай бұрын
Interesting, This is superb! Information, as a noob it gets quite difficult to handle all of this and staying informed is a major cause, how do you go about this are you a pro Investor?
@CasonSearan2 ай бұрын
I feel Investors should exercise caution with their exposure and.exercise caution when considering new investments, particularly during periods of inflation. It is advisable to seek guidance from a professional or a licensed expert in order to navigate this recession and achieve potential high yields
@DavidMoore9872 ай бұрын
Prioritizing effective personal finance management holds greater significance than the sheer amount saved, irrespective of income source. Consulting a certified financial advisor can offer tailored strategies to optimize financial results by reducing expenses and enhancing income, regardless of whether it's earned through employment or investments.
@MichaelGillespie-MG2 ай бұрын
Brian Humphery Services was my hope during the 'bear summer' last year. I made so many mistakes but also learned so much from it, and of course from Brian.
@MichaelGillespie-MG2 ай бұрын
He is really a good investment advisor. Was privileged to attend some of his seminars.that's how I started my own crypto investment
@stanbimiАй бұрын
This should be mandatory economics class material for high schools and colleges.
@brocklanders69692 ай бұрын
How government over taxes us and overspendings.
@Nemesisnxt2 ай бұрын
18:32 And yet Federal Tax Revenue continued to increase at about the same rate. If the point of taxing is for revenue, shouldn’t we focus primarily on REVENUE?
@jarirutanen87622 ай бұрын
Deficits are necessary for creating money (reserves) to make public investments. Interest payment on reserves is unnecessary and should be abolished.
@Peace_Guard2 ай бұрын
I don't think you understood the video. They're not necessary, because you can fund through taxation. People always have lower needs per let's say month than the average sum of the value of what they've produced during this time. The difference can be taxed and public projects and all other necessary activities funded from it. You can also use export surpluses also an additional source. Funding through debt, money printing and tariffs (if they're not used for their actual purpose, but as a funding method) should all be illegal and punishable with life sentences.
@henrygustav79482 ай бұрын
@@Peace_Guard Professor Wolff suffers from faulty Marxist dogma understanding about how money works. The video is wrong. The Federal govt pays for things one way and one way only and that is through credit accounts which is in fact money creation. When the Federal govt collects taxes, that is the redemption of money and money deletion. The difference between the two is known as the deficit, also known collectively as the savings of the economy, held as cash and bank deposits. Taxation can not "fund" anything. In the USA, US dollars come ONLY from the Federal govt. Govt spending funds taxpayers with dollars. Taxpayers DO NOT FUND THE FEDERAL GOVT. Money IS debt, $= debt. Money is a debt instrument. Every Fed reserve note has this sentence written on it. "This note is legal tender for all debts public and private."
@jarirutanen87622 ай бұрын
@@henrygustav7948 , thanks for a refined extensive answer! No debt means no money and no monetary economy only barter. Gov debt is just theoretical, only private debt is real.
@Vincent831Blue2 ай бұрын
Do global south countries also run budget deficits, or is this exclusive to the global north/high income countries?
@carlitaticconi66552 ай бұрын
Absolutely. They generally owe huge amounts to the same entities that own much of our debt, lots of it through the IMF, this way they pay with their populations resources and productivity. Debt is the modern tool for colonialism.
@denisross29232 ай бұрын
Very good explanation of fiscal policy but some public services are paid by insurance companies. These include social security pensions, unemployment insurance, Medicare et al.
@willeisinga20892 ай бұрын
35 Trillion State Debt. Going to Double to 70 Trillion. No Problem. Part of making Money. 👍
@Chinook-tj9bv2 ай бұрын
It is good thing that there are many people and countries willing to accept USD$ without any questions about the USA's huge deficit. If there wasn't that confidence in the USD$, then... yikes!!!
@JeffThomas00012 ай бұрын
Subsidies are the repayments.
@choosiewhoo17002 ай бұрын
A great professor. Thank you.
@ArriveByTesla2 ай бұрын
The intro music to DWolf sounds like final boss music 😂
@wolferr12 ай бұрын
I'd love to hear your explanation and critique of MMT
@henrygustav79482 ай бұрын
Professor Wolff has contact and access to MMT economists but he is a dogmatic Marxist. He has been preaching doom and gloom about Government finances for many many years. It would be embarrassing for him to switch gears and start talking about MMT whether or not he believes he is wrong. The National debt will bankrupt the USA! The US has been bankrupt for over a hundred years now lol and people still gobble this stuff up.
@9729CBailey2 ай бұрын
This dude broke it down dummy style. Good job
@PardaJan2 ай бұрын
Could you please make a video , How the moneytory system works? Thanks
@aintdatsnipes1772 ай бұрын
What about soaring prices RW? Corporations not only getting big tax cuts, but they're raising prices every month Ratheon, Lockheed, GD, Boeing yada yada, raising prices double digits YOY, and in any war based economy where more than half your population don't work at all, who's there left to tax?
@milantomich65682 ай бұрын
And this will never change because most don't care. How many thousands of years is this already going.
@gerhard73232 ай бұрын
It's not just totally 'irrational', it's totally immoral.
@gerhard73232 ай бұрын
Anyone who doubts this should ask themselves why, as the economy apparently grows annually and the nation gets richer, why many people feel and are effectively getting poorer.
@Vbxuser20Ай бұрын
the problem is after the borrowing the amount its not done to help the people, its used to enrich the lender's pocket. Look at crumbling the public services all around you...maintenance of public structure,less social funding,increase in cost of living,etc...
@Reemdaddy832 ай бұрын
I don’t think I would say they figured it out borrowing $$$
@rocaverde28292 ай бұрын
So the national debt is owed to the rich and the corporations. And that answers the question as to default. Will never happen!
@SuperDaizi2 ай бұрын
Sorry to interrupt, how do I order the book?
@smelyzzajko2 ай бұрын
Well said! I am curious what would happen if we had money with a limited validity, say 1 year. The government would print these money every year depending on its priorities, and the resources available, then they could circulate for a year in economy, but expire after a year. What consequences would this have? Any studies on the topic?
@henrygustav79482 ай бұрын
You are already describing what is happening now. The Govt spends its money into the economy, then throughout the year and especially on April 15th, we have to pay taxes. The money we have is called our savings. Deposits which are held in checking and savings accounts. This is also known as the Federal governments deficit (Govt spending minus taxation).
@smelyzzajko2 ай бұрын
@@henrygustav7948 it seems you have a problem reading or reasoning. What I describe is that the money validity expires after a year. Current money never expires. They only accumulate in the wrong hands, give power to undemocratic entities and lose their value through inflation. Taxes-based money-expiration effect is minuscule. Also, currently they are "printed" mostly by private banks by issuing loans, whereas what I describe is that a democratic government would be the only authority to produce them. This would solve a lot of problematic issues and failures of capitalism.
@lambertgiang2 ай бұрын
Isn't that the Democracy the US Govt always advocates, and the US Citizens are always happy to believe in?
@Vanzee-fb2xb2 ай бұрын
Hallelujah 🙌🏻!!!!! The daily jesus devotional has been a huge part of my transformation, God is good 🙌🏻🙌🏻. I was owing a loan of $49,000 to the bank for my son's brain surgery, Now I'm no longer in debt after I invested $11,000 and got my payout of $290,500 every month…God bless Mrs Susan Jane Christy ❤️
@YvesAlexandre-ov2td2 ай бұрын
Hello!! how do you make such monthly, I’m a born Christian and sometimes I feel so down of myself 😭 because of low finance but I still believe God
@Andrea-hy8df2 ай бұрын
Hi that's good you have idea &share to those who deserve it that's great god bless🙏🙏
@Steph-uz8jd2 ай бұрын
She's a licensed broker here in the states🇺🇸 and finance advisor.
@Steph-uz8jd2 ай бұрын
After I raised up to 525k trading with her I bought a new House and a car here in the states🇺🇸🇺🇸 also paid for my son's surgery….Glory to God, shalom.
@AthensPatao2 ай бұрын
Can I also do it??? My life is facing lots of challenges lately