Economic Update: Signs of System Decline

[@colinsavill3459]

Compelling as always. Prof Wolff has the amazing talent of being able to convey these ideas in simple straightforward language. Thank you.

[@kazilziya830]

You sir are a very rare economist because you actually think outside the box and explain the reality of our failing system which has been manifesting here for decades. Thank you.

[@rogerburn5132]

you think like That because you have never seen and heard of Milton Friedman. ?????

[@garyjones3142]

Get Real ! Your in the box and don't even know it !

[@L98fiero]

@@rogerburn5132 No, He's heard of Milton Friedman and recognizes that Friedman is a major part of the problem.

[@rogerburn5132]

@@L98fiero And How Exactly is Milton Friedman part of the Problem. Richard Wolff doesn't even come close. To What Milton Friedman is.

[@L98fiero]

@@rogerburn5132 This comment by Forbes pretty much sums it up, The Origin Of 'The World's Dumbest Idea': Milton Friedman: "No popular idea ever has a single origin. But the idea that the sole purpose of a firm is to make money for its shareholders got going in a major way with an article by Milton Friedman in the New York Times on September 13, 1970."

[@commonsense6489]

Bravo - what a smart, insightful, inspiring and unselfish man. Thank you, Dr. Wolff for speaking truth to us, the oligarchs and corporate media.

[@maxgatica5736]

I remember a semester at my University UNAN of Sociology and Economy so they were right about Richard is trying to tell to the people in this country

[@NO-LIVAS]

What a good man!

[@harshithsubramaniam5924]

@SOUL SEEKER Top down control of a workplace is human nature?

[@harshithsubramaniam5924]

@SOUL SEEKER Assuming you are 100% true, even then not all hierarchies are justifiable. So is the case of a business.

[@harshithsubramaniam5924]

@SOUL SEEKER You make some claims, but that isn't enough. Can you prove that they are true? Is this organisation really based on competence and merit? And anthropology & Sociology has shown a lot of times cooperation is more natural than cutthroat competition in human societies. It also seems much more efficient, reconsider...

[@jerryjavierlujan3309]

Your economic and political analysis, Professor Wolff, are right on the money

[@garyjones3142]

Yes Like fools Gold.

[@mattolivier1835]

If you're a statist or fascist, yes.

[@plainbreaker1392]

Greed breeds corruption that breeds incompetence that breeds failure.

[@dr.zoidberg8666]

Pretty good, but you forgot the first link in the chain. Capitalism breeds greed.

[@petergraham8415]

@@dr.zoidberg8666 I just not believe all or a lot of people under capitalism are greedy. But the USA the system is from the groundwork encouraging greed just to be the biggest or best. Cheat. Lie. Steal. Murder. The way to win. And the bottom are losers if unsuccessful in the commodification or finance.

[@letsRegulateSociopaths]

capitalism breeds hypocrisy which is the root of evil

[@dr.zoidberg8666]

@@petergraham8415 It's not about capitalism making individual people greedy or immoral -- it's that the incentive structure of capitalism is inherently antagonistic. The capitalist is incentivized to harvest the maximum amount of value from the worker's labor as possible... This is profit. The worker on the other hand, wants to keep the value they generate in the form of higher wages, better benefits, etc. So, the economic system is designed to create a _tiny_ elite group, then set that group's interests in opposition to all of the rest of us. This is how "greed" manifests in capitalism.

[@mattolivier1835]

Nope. Gov't breeds corruption that breeds incompetence that breeds failure.

[@jonnizzik1993]

Finally a shining light of insight and understanding on our destiny - so often camouflaged masqueraded and miss explained by the greed-based interests of a few corporations and their laquees in governments. Thank you professor for keeping us informed about our raw reality.

[@notabene7381]

“I walked around the block twice, passed 200 people and failed to see a human being.” ― Charles Bukowski, Tales of Ordinary Madness

[@oliversmith9200]

Oh, Charles, get a grip... Coffee?

[@iamstartower]

Insects everywhere...

[@markwessels3182]

Check out Bukowski's "Burning in Water, Drowning in Flame." Brilliant man, brilliant work.

[@blandchicken5353]

Who would wanna be, who would wanna be such an asshole?

[@100perdido]

"Of course it's possible to love a human being if you don't know them too well". Charles Bukowski

[@mehdi1330]

How brilliantly explained. Always enjoy listening to logic.

[@DavidRichardson153]

Minor disagreement on the American medical system, Professor. After all, despite having the diamond-studded golden Cadillac plan that comes with being a member of Congress, Rand Paul could go anywhere in the US for healthcare and never have to think about paying even a single penny... ...and he *STILL* went to Canada for healthcare.

[@keithrodgers1030]

His actions speak lounder than his principled republican words.

[@Ashdad99]

Wow

[@mauibill7233]

I'm a retired medical professional. I watched through the 80's and 90's how the capitalists invaded the health care system and just completely destroyed it.....for profit. They came to our hospital, drove the workers mercilessly, cut our pay and benefits in order to show good profits for one quarter the sold it and went to the next hospital. People died because of their policies, so what did they do? They hired a bunch of attorneys and called them risk management to shift the blame off them. These people are ogres and should be in prison.

[@-Zevin-]

@@mauibill7233 This is usually what happens, it's just bizarre to me that there is still people that fall for the "profit motive" being a compelling argument for government programs or for producing anything of value, as if profit motivating decision making was a almost religious rite, that magically produces better businesses and better products. The only thing the profit motive is good for is generating money for a individual or business, it never is a good system for getting quality; you are incentivized actually to cut quality just to make more profit.

[@lexneuron]

He went to Canada only because he is the kind of people who can speak only ONE kind of language. Think about if, if he could speak more than one language, he could have gone to Mexico as well. Additional evidence can be seen in the fact that he didn't go to Quebec, but other places in Canada, where the absolute great majority of the people can speak only ONE kind of language, just like him.

[@driddy1]

Such a great episode! Thanks again sir for all that you do 🙏

[@Oficial_jacqueline]

Thank you for watching this episode. Text me up for more informations

[@henrywallacesghost5883]

I agree!! Dr.Wolf has been a sane voice in a insane world.

[@kwshu6324]

Uvui

[@henkholdingastate]

If you carry out maintenance, you drive the cheapest and that also applies to the infrastructure. No maintenance has been done because the government (consisting of the rich) found it more important to give tax cuts to the rich (sinds Reagan) . The rich who called everything that didn't suit them communistisch

[@roughhabit9085]

I’m over 50 and if I had been born in Cuba I would have been on rationed coffee my whole life . I want that economic system lol.

[@michael511128]

US is debating on fixing broken roads and bridges, China is beyond high speed trains and building container ports with 5G control room operated cranes and AI airports with no standing in line for an hour.

[@OneAdam12Adam]

Oh please! It's all cosmetic and made with crap construction

[@hyperinflation5285]

@@OneAdam12Adam Better than nothing.

[@wasteland3485]

US and China both have huge challenges. No winner from the heated rivalry created by politicians and main stream media and the Big Bosses behind them.

[@WackadoodleMalarkey]

So they can help take in more refugees🚬

[@hagankeys3610]

@@OneAdam12Adam How is California High-Speed Rail going?

[@BWong1234]

Prof. Wolf is a genius. 👍

[@5508Vanderdekken]

Apparently there's also a container ship off the coast of Long Beach filled with chickens coming home to roost

[@keithrodgers1030]

There is a huge numberr of container ships parked off the coast of Long Beach waiting to be unloaded. Same situation in Rotterdam , this one due to the Brexit fiasco. Both ports have labour shortages due to worker reluctance to go back to work for fear of catching covid19. Thats the real reason for labour shortages, low wages & fear catching covid19.

[@hollyw9566]

Well done, sir. ((golf clap))

[@winstonkam5166]

Nice! It's anchored next to the one loaded with Karma....

[@100perdido]

Nah. They flew the coop, or the coup. No self respecting chicken wants to come to the U.S.

[@pinchebruha405]

@Account NumberEight yes operating behind China's secrecy well done commies!

[@j.erickson8571]

God keep this man healthy and alive. No one else worth to mention, has ever say a word on what's going on. I wonder why...

[@martinenglish6641]

Another thought on road deuteriation - Roads were originally laid by rebar reinforced concrete with a packed crushed rock base/foundation and lasted for many decades with little repair, but instead of repairing in the same way it was laid, and now going back decades, roads are just covered with tar asphalt and the asphalt lasts maybe 5 to 10 years, in some situations 2 to 4 years, before major repairs are again needed and again asphalt is used again resulting in short term savings but long term higher expenses. This is just 1 example. But what do I know as an engineer. And this applies with all of our infrastructure.

[@ahliong]

Also , the trucks are bigger and heavier nowadays.

[@martinenglish6641]

@@ahliong True to a point. When the original interstate system was built when President Dwight D. Eisenhower had signed the Federal-Aid Highway Act of 1956, him being one of the major architects of the interstate system. There was a primary purpose for the construction not being commercial but militarily during the height of the cold war. If you notice the roads were over-constructed for any private or commercial use being constructed to withstand weights and pressures that even the heaviest loads of today. There were many straight stretches strategically laid to accommodate military aircraft for landings and take-offs and the hights of the overpasses was the minimum height to accommodate the passing of intercontinental atomic missiles to be able to be transferred anywhere in the continental US as needed and as a way to keep locations hidden by regularly moving them. At the time of the build-up, we had many more siloes than missles. It was a type of shell game to keep the Soviet Union Guessing about the location of all our atomic assets. The roads were built like aircraft runways and could handle the widths and weights of large military transports, fighter aircraft, and armor, and large heavy truck convoys, all needing more robust road systems than any civilian or commercial vehicle would need. As a result, commercial transportation adapted to the stronger road system. In the 1960's intercontinental missles became smaller and lighter and atomic warheads became smaller and lighter and better delivery systems were developed, but even today the largest of the missiles are still maintained, but with more multiple warheads due to the more compact and lighter weight of modern atomic devices. As new highways were built in the early 70's up to today, they no longer meet those old standards and are asphalt, and repairs on the older concrete roads and bridges are with asphalt. The use of asphalt was a boon for the petroleum industry and is not nearly enduring as concrete and the roads need to be constantly reserviced, no surprise the petroleum industry still makes a mint on road repair and new construction. Old bridges and overpasses are patched to laxer standards or just minimally prepared and that is why many are just literally falling apart and failing. Quick and cheap now costing more in the long term. It is all about profit now and to hell with future costs. But you can only pass the costs over time before all comes crashing down. We do not have enough rail systems and too many unneeded roads. Rest stops and weigh stations are in disrepair or just being closed down to defray the cost to prepare and maintain. More and more is contract work and not nearly state and local road crews as there were. Save money now to make corporations richer and help fill the pockets of the politicians. We get what we vote for. And we now have it.

[@niceguy6392]

Dr. Wolff is so very interesting and explains everything in a way that is easy to understand, thank you for that because we all need to know what's going on.

[@petergraham8415]

Seems to be power corrupting absolutely . On purpose. To hell with you jack we the rich and mighty are on so good and alright. Like keeping a person docile and dumb whilst walking away with their loot . Very rigged and sorted. Not for all but the system needs one heck of a shake up from the implemented changes. Dusted over by lawyers no doubt for the shrewd to the powerless and gullible. No wonder people trust. Once gone it is goodbye.

[@garyjones3142]

Your in the same darkness.

[@notabene7381]

"Bourgeois society stands at the crossroads, either transition to Socialism or regression into Barbarism." ― Rosa Luxemburg, 1916

[@oliversmith9200]

"Fascism is merely capitalism fully matured." Nadezdha Krupskaya, around the same time.

[@nowthenzen]

pretty sure they gonna chose Barbarism

[@misanthropyunhinged]

@@nowthenzen we're living in barbarism now

[@ProleDaddy]

Barbarism it certainly is, currently. Solidarity, brothes and sisters. Together, we can know the strength to bring the change we all so urgently need

[@nowthenzen]

@@misanthropyunhinged See! I was right!!

[@YellowstoneCommie]

Prof Wolff your analysis is always insightful and refreshing 👏👏

[@garyjones3142]

No it's not, it's sour like a rotten lemon! Go Brandon !

[@mattolivier1835]

If you're a statist.

[@luigidimartino7055]

Prof, you are simply fantastic.

[@mattolivier1835]

Nah, he's a statist.

[@EnzoVecchiaio]

Under a philosophy of ecological economics, long supply chains would quickly fail because companies would have to pay for the ecological damage of all that long-range transportation. So this turns out to be greed at the expense of the planet and the biosphere.

[@scottclute7443]

Professor Wolff, we need your insight always!!!

[@davidlazarus67]

That is why China is looking for electrification of its belt and road, so that goods can be exported using renewable powered railways.

[@HxH2011DRA]

@@davidlazarus67 trains are cool!

[@keithrodgers1030]

Yep spot on.

[@joeanthony7759]

Yes...they are sometimes referred to as "externalities" in economics- the true costs of doing business that aren't accounted for on their ledgers, yet fall on the back of the general population

[@burden9809]

Excellent points as usual. Let’s all move labor to the forefront , a close realistic appraisal of the system will lead to the conclusion that labor is the primary reason for business in the first place. RANKED CHOICE VOTING NOW!

[@mattolivier1835]

Voting is immoral you fool.

[@hvosouq]

Fantastic as usual; Wunderbar. God bless you Professor Live Long, please

[@kimcousins1125]

I have grown very fond of you Richard. You explain things with unprecedented simplicity and much humour. Your speeches are very entertaining too which is important in order to make the topic less boring. With no disrespect though, economics is not rocket science and the capitalist system is an open book to anyone with half a brain. The problem that we socialists are struggling with is what the hell can we do to change things as we confront the power of the corporations and the media combined with worldwide corrupt governments. The scales are weighed against us. I seem to be in a minority in the fact that I favour a revolution. Protests are ok but they are almost illegal now, especially here in the UK where we have a virtual totalitarian state. what are we to do?

[@jamilkhan715]

Wonderful presentation. Thanks Richard. Wish you all the best.

[@sandracolleen4203]

'The world is connected. You cannot escape.' Professor Wolff again pins the heart t of our needed base understanding. ♥️🙏♥️

[@estchu]

America was doomed to the path of decline when the Soviet Union collapsed. The uni-polar super power violates the eternal principle of Yin and Yan. China understands this. Therefore it does not want to see the American decline, but perhaps it's too late. By accusing the others of lies and stealing, Americans somehow prepares itself for the decline. Americans have confused democracy with popular ism. Americans have confused freedom with individual ism. 走火入魔, a Chinese phrase would explain the state of schizophrenic decline.

[@TheRCish]

@@estchu Could you elaborate on what this phrase means?

[@markhedquist9597]

25k subscribers. 23k views. That's pretty good. It says something about subscribers: they are engaged. This episode, as the others, is to the point, accurate, truthful, and should be seen by all. Thanks, Prof. Wolff.

[@robertpresley1503]

250k subscribers.

[@garyjones3142]

Keep hiding in the dark.

[@markhedquist9597]

@@robertpresley1503 oops

[@DanQuestTM]

💯✔This is what I call the great awaken and the near death of capitalism. Thank you Richard, quite an informative program.

[@billykobilca6321]

Capitalism died a whole while ago. USA oligarchs and interlocking cartels are in charge. Government only caters to there doners not the citizens.

[@mattolivier1835]

Free market capitalism died long ago. Only corporatism exists today.

[@Gunni1972]

Fun fact: the overpaid Military achieved about the same in Afghanistan, that the overly expensive medical system did with covid. If people earn too much from promises, they never reach the promised result. Why would they even try?

[@ahmadvahab968]

Just within the last 120 years, we have 3 empires that no longer exist. So, why is so hard to believe that American emperialism is also declining!

[@eal8645]

Honestly, we don't want to see that because the Ending in reality will be horrible! Japanese Empire was only 20% of the US economy at that time. Japanese population was about 50% of the US population. Most of its troops fought with WWI vintage weapons. And, it took two nuclear bombs to subdue the Japanese. The Russian Empire was only 60% of the US economy when it collapsed. It did not trade with any Western countries. Technologically and materially, Russia was far inferior than the Western countries. But it took American and her allies forty years to subdue them. The German Empire was about 50% of the US economy. Germans did not have much needed nature resources. It relied on Romania for it oil needs. The population of Germany was small. Though its troops were some of the best trained and equipped, once the casualties piled up on the Eastern Front, its lacking in sustainabilities was exposed. In all three scenarios, US won with huge allies helps. If the Germans fought the US on a one-on-one basis with its best units not tied-down on the Eastern Front with the Russians; I think the outcome would be different. At the least, US would have suffered much bigger casualties. So, the professor does have his points. Not to say he is right; but as a fair warning, it is justified.

[@angkukueh3899]

The alternative is China communist evil regime.

[@lloydglyn6831]

Fabulous show!! 👍👍

[@10lauset]

Straight-shooting realist and to me hilarious. I live in Canada and we have our own smug hilarity. Cheers.

[@nicolasm400]

Under capitalism, industries are captured and are only a shadow of what they ought to be; actually serving our needs.

[@carolmiller5713]

We see corporatization of every faction - food production, healthcare, medicine, education.... it's ruined the country.

[@garyjones3142]

Build back broke--- Joe Biden !

[@mattolivier1835]

I think you mean corporatism. Capitalism is fine if it's voluntary.

[@rabbitland9837]

@@carolmiller5713 corporation make what you and me need but government tax us to death, any bad things coming from corporation it happened because of government giving them covers like bailing out the bad ones which make bad products .... All on all capitalism is not perfect but the best option available

[@oldsesalt8496]

When is it time to rebuild a decrepit unsafe bridge? When it falls down, apparently. When is it time to rebuild the levees of a major historic city. After they fail, apparently.

[@RussCR5187]

And when is it time to address the dangerous heating of our planet? When it's too late, apparently.

[@jimmysparks315]

Welcome to capitalism...

[@carolmiller5713]

"The systems of Government seem to have decided they function best when broken - Ed Snowden.

[@KathrynLee5456]

Thanks for sharing your perspective on the situation facing us.

[@mattolivier1835]

He's a statist.

[@moniqueboyke5879]

Excellent video Richard Wolff. Very informative and entertaining.

[@Tetragrammaton22]

Thanks for the update.

[@AO-ow6tt]

All my respect to you Pr. R Wolff for your selfless endeavor and great work of providing knowledge and understanding on world issues especially on the US and Western "democracies" relationship with the rest of the world especially with China and Russia which are now at the attention of the world public that needs correct and truthful information more than ever.

[@hybridepigenes]

Always excellent and informative

[@mustang19ms]

Thanks Professor Wolf! That's some 3d chess right there, my mind feel illuminated to a new angle of seeing things

[@mattolivier1835]

Yeah, if you're a statist.

[@mustang19ms]

@@mattolivier1835 I smell a libertarian, I'm intrigued but couldn't find a convincing argument so far, I need to dig deeper

[@mattolivier1835]

@@mustang19ms Libertarian? Getting closer. I'm anarcho capitalist. Or just call me an anarchist if you like. The cringy host hates capitalism and loves big gov't. I love capitalism and hate any gov't at all. I guess we are opposites. I'm Roark and he's Toohey.

[@mustang19ms]

@@mattolivier1835 I understand your hate for gov. but capitalism is not the answer, the current govs. are a result of capitalism and will always be, capitalism had it's fair chance and as expected the few got rich and they controlled the rest of the people as it happened many times before, for thousands of years. The host might be cringy to you because you have resistance to new ideas, for open minded people he should be anything but cringy lol, even if you disagree For me, I'm all for govs. integrated with A.I. algorithms for collecting and processing data, upon which rules and regulations are created, the idea is to limit the amount of corruption the human factor brings to the table

[@tw3235]

GREED pure and simple. Thank You

[@aleethelfa9880]

Prof Wolf's update is quite factual on many topics concerning Signs of System Decline.The U.S.capitalist model had peeked and this happens faster when Corporations don't invest in their country's system dat they also need.They only care about their profits.

[@LyyliMacDonald]

Richard, I really found your comments interesting and insightful. I’ve been a small business owner with my husband for 40 years.. we’re not in a highly profitable field as most companies are small with few employees, family owned and workers have to learn the trade for 10 years to be competent. I hope more businesses in the future become employee owned and businesses should not be promoted that cause harm to people’s health, our environment and return nothing recommendable. Keep up pushing common sense.

[@rogerburn5132]

If Richard has hes way you will not have any private business at all

[@garyjones3142]

Didn't you know that common sense is NOT so common anymore, just look around !

[@yttean98]

Economically with today's video and additional Politically, with books from Prof. Chalmers Johnson e.g. "The Sorrows of Empire," he predicted the End of the Republic 15 years ago or earlier, you can get this video and earlier ones on youtube as well, worth a view. I am sad to say he had since passed away.

[@beatricebrown8221]

Power to the workers!

[@transsylvanian9100]

ALL power to the workers!

[@mattolivier1835]

Learn to be an individual and not a collectivist.

[@anon2132]

Sorry Professor, but your description of the two politicians parties is seriously outdated. The important distinction is in who they serve. And increasingly over the last few decades, both have served corporate and financial interests at the expense of everyone else.

[@JohannCABJ]

He said that at 12:30

[@bettymontgomery2400]

I'd like too see all incumbents voted out and replaced by people who refuse to accept corporate campaign bribery funds. It's a dream, but,just think how much that would change our system.

[@garyjones3142]

It's all about the money, I couldn't agree more. Two Federal bank presidents just stepped down, looks like insider trading to me.

[@folkeholmberg3519]

As allways brilliant and pedagogical analysis ❗

[@mikemurray2027]

There's a split in the British ruling class, as Prof Wolff points out. Former PM Cameron tried to get on board with the PRC and Chinese money is now building new UK nuclear power stations at very preferential rates. But that faction was then beaten over the Huawei affair, and a deal to let the Chinese firm develop 5G in the UK was overturned by the pro-US faction which includes the dual-nationality Boris Johnson.

[@davidlazarus67]

They are dragging the country into oblivion.

[@tickle296]

Big mistake will be made if Huawei not allowed to develop 5G.

[@davidlazarus67]

@@tickle296 Huawei already is developing 6G and will have such a lead that any country that leaves Huawei out is basically hamstringing their economy.

[@mikemurray2027]

@@tickle296 It's always just a question of money with the British ruling class.

[@JSB103]

@@tickle296, Question: Won't 5G technology serve as a tool for the feared Orwellian Police State regardless of right vs left ideologies? Isn't there anyone out there making THAT connection?

[@coypu2005]

Although I think you lean left, I appreciate your ‘generally’ unbiased insights. Thank you.

[@andrewthurman8836]

Yeah, both parties are scrambling but the most significant portion of that statement was that at the top of their "coalition" were corporations. The numbers don't lie and none of the political tricks of the past gerrymandering to disenfranchisement will control an angry population that wants change.... but controlling the valves of the city's water might.... my guess on the push to privatize public water

[@BillyBasd]

Messing with water is a recipe for revolt and civil war

[@andrewthurman8836]

@@BillyBasd I totally agree. But some analyst calculating the odds of various reasons that could spark civil unrest also is calculating various ways to counter it. And my guess, by the time angry groups could gather/organize and start a revolution is about the time they would be dipping a dixie cup into the toilet tank cuz the city water was shut off earlier in the week...revolution ends.... after all the beer has run out of course

[@garyjones3142]

Oh Likes that's going to be the answer !

[@alanconlan8337]

This long-term decline has been happening for the past five decades. The US is not merely entering the decline, it's now at the pivotal stage, having passed the point of no return over two decades past. It needs to be seen holistically.

[@rogerburn5132]

The sistem is NOT in decline but the CORUPTED politishans and government officials are in decline

[@garyjones3142]

Then get yourself ready, I know I am. Gold and silver plus a little extra food.

[@rogerburn5132]

@@garyjones3142 corekt Gold and Silver has always been protection against inflation and Hyperinflation. This time will be No different. Weimar Republic Hyperinflation in the 1920 (today Germany)

[@garyjones3142]

@@rogerburn5132 I agree.

[@robertfelts8773]

Good stuff man, I appreciate you

[@garyjones3142]

Don't choke on it buddy. Get back to your trailer.

[@robertfelts8773]

@@garyjones3142 lol. Is that so...

[@scottclute7443]

Thanks for the food for thought!!!!

[@leftistgamer909]

This Pandemic has caused so much confusion in my personal life that I don't even know how to function as a human being anymore.

[@stellaallbright4750]

Same. I was sexually harassed at my job, reported it, and was fired for being "racist" because I refused & reported the non-white male who was harassing me. This world is upside down.

[@joethethunder4906]

@@stellaallbright4750 this nation is upside down. That's why it needs change.

[@harshithsubramaniam5924]

@@stellaallbright4750 Really sorry mam. Stay strong, and solidarity! Things will change for good...

[@kategarcia3585]

@@tonys32948376 there was Spanish flu as well, Fauci needs to be investigated. Him and the Wisconsin university guy. There's also Winnepeg lab in Canada to look into.

[@garyjones3142]

Just butch- up and put your big boy pants on ! Totally pathetic logic .

[@growbear]

Brilliant as usual!!

[@oliversmith9200]

Unlike America's last system collapse crisis, we lack the mass supported parties of socialism and nationally influential labor unions that brought the pressure resulting in the New Deal compromise. With our working masses as unorganized as we are, it's going to be much more up to The Boss to craft our coming experiences. P.S. I spent 30 years trying to organize for socialism in Oklahoma with no results and facing City Boss directed economic reprisal. I'm now so poor I can't afford a car. In Oklahoma that means I can't function in social or political affairs, as the City Bosses intended. The fact that I'm not alone in this sort of experience is also why Bourgeois Dictatorship America is progress moribund.

[@chuckleaf8027]

You'd be even poorer under socialism.

[@petergraham8415]

@@chuckleaf8027 says you. My electricity was subsidized through taxes with socialist practices. Privatise utilities I pay through the roof. And they hire globalised employees cheaper labor who give atrocious installations for landlines and then to get repair. Why ask. Privatisation can go to heck. We will never get the government privatise utilities assets back again. Cash cows. No need to wonder. Even with all the subsidized innovations Corporates get their hands on. Leeches.

[@chuckleaf8027]

@@petergraham8415 So we just get rid of all private companies, and let bureaucrats handle everything? BTW, utilities aren't exactly free-market entitles, and are basically monopolies, protected by government...and since your electricity is subsidized, you're still paying for it through taxes. You should read about Yeltsin's trip to the US supermarket. He said if Russian citizens saw this; ie.. all the abundance of different foods, they'd revolt overnight.

[@gfarrell80]

@@chuckleaf8027 we'll see how capitalism works out over the next 5, 10 years. Right now in the US annually we're filling four sports stadiums with 190k 'deaths of despair' (suicides, OD's, and alcohol deaths), shooting dead another 1k annually with our cops, and now we're printing money to sustain our unsustainable extractive sectors (finance, med/pharma, defense/intelligence) to the tune of 5% or more inflation per year (although we've much more massively expanded the money supply with QE). Most of America is dirt poor too, I don't know if you've driven around any of our rural or urban areas lately, they look worse than many 3rd world countries.

[@lynlee6861]

Probably u could take together enough for a one way ticket to any socialist country. They need more mouths to feed. Or heck just go to Mexico and deal with the cartels. U have options, quit whining

[@deddalus01]

GREAT!!!! CONGRATULATIONS

[@dirrdevil]

One thing to remember is that demographics are not destiny. The Majority Report had a recent interview that discussed this subject. There are an increasing amount of mixed race people and some identify as white. Also, not all minority groups will vote progressive or even Democrats. Changing demographics will not result in a positive socialist feature automatically; only an endless, progressive social movement of being pro-labor and anti-prejudice can benefit us.

[@Mr1stcat]

True also people want material change something tangible that they can see and feel something that positively impacts working class communities

[@PoliticalEconomy101]

The corporations are way ahead of you. To deal with the changing demographics they have liberal Idpol, multicultural policy, and affirmative action all designed to diversify the capitalist class and keep the working class divided. The Repubs use the "border crisis" to get whites to vote for them.

[@bestdjaf7499]

The Labour hates your stupid ideas. Labour doesn't support Democrats or Labour UK or .... Labour is not Intersectional. They are just poor. Intersectionals are the rich.

[@SamuelClemente7718]

My family is Mexican Americans and we put White I the census

[@Mr1stcat]

@@SamuelClemente7718 they didn't have latin/Hispanic in the census ?

[@snarplaya]

I swear politicians are so deep in their comfortable ignorance that they would never take any information like this seriously. It’s literally an outside the box analyses. Their tiny world/system can’t comprehend this because it means they would have to accept the end of this era. The only response current politics has today is to be silent and ignore the inevitable.

[@RosaLopez-vx5yr]

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[@jackiegoebel88]

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[@ameliamarie1808]

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[@danieleggers1383]

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[@sarahhart1145]

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[@robhochstein4672]

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[@stephaniecarrow4898]

Excellent episode. Great point about supply chain. How about an episode on what corporate capitalism is doing to Steven Donziger?

[@curlykipper]

I have often wondered why more enterprises are not run as cooperatives. That aside, an enjoyable half hour learning how sick capitalism and the pursuit of profit is.

[@garyjones3142]

You don't understand ! So So SAD !

[@USONOFAV]

it doesn't work, Richard Wolf has means to do it but all he do is talk. lol

[@truthlove1114]

Another great video. Thankyou

[@TheSigmaInAverage]

Ahhh, my good Prof. Wolff. How I missed you, sir. Fantastic job, as always

[@geronimo19611]

I was just starting my commentary when I saw yours . . . literally same thing you wrote. I'm from Switzerland and I wish we had Intellectuals of Prof. Wolff's caliber but unfortunately our "Experts" are all trash. Cheers

[@georgekane1985]

Excellent, thank you.

[@joevuzekaz2030]

The bizarre thing is a Black a Hispanic or a poor person voting for a Republican.

[@MarkHopewell]

Its the same here in the UK, certainly England anyway.

[@garyjones3142]

The only smart and well educated do !

[@tinadkuper]

Thank you, Prof Wolff

[@TennesseeJed]

Sure, export all your labor to other countries then ship the products back to sell to people who have no jobs... except now your shipments are stuck at sea.

[@bestdjaf7499]

Dude the Socialists & Rich & Government pushed Outsourcing. Ask any Socialist what they think about Outsourcing & China. They all love it. Why? Because Socialists didn't lose the jobs. The poor people lost the jobs. The most educated group now the Black Women & Women in general. And women don't go into STEM. On the other hand the Asians are all Engineers & dominating Technology & Innovation. By 2026-2029, China will have higher GDP than the US. * India will take the 3rd place. Well but we have 100 new genders tho. And the "White" people losing money... It's not the White people. The Rich only got richer. It's the poor white people became more poor.

[@scottclute7443]

Highly respect your input sir Wolff.

[@scottclute7443]

Risk Management Services?!?

[@scottclute7443]

@@bestdjaf7499 it's another sham business!!!!

[@scottclute7443]

RMS is another capitalist. Money sham?!!!!!!

[@nickeyzrocks]

What must certainly epitomize an empire's decline is when an intelligent man speaks so eloquently on what should basically be termed common knowledge and everyone carries on like Thelma and Louise taking a joy ride off a cliff.

[@Denitakis]

Another amazing lesson, Prof. Wolff! Thank you!!

[@garyjones3142]

You failed big time, you received a big fat " F ".

[@selalewis9189]

Hope you're doing well Prof. Wolff, take care.

[@fmj9346]

England isn’t the U.K. Wales, Scotland and NI are three different other countries. Other than that you’re great. Been watching your program for years. From Wales.

[@-Zevin-]

For all practical purposes the UK is a country and Wales, Scotland, NI are individual states. Like Michigan or California is a state in the US. There is nationalism and lots of history, regional pride in the UK, but Wales or Scotland are not effectively separate nations. However that may change if Scotland finally leaves the UK and joins the EU.

[@fmj9346]

@@-Zevin- You are incorrect. Wales and Scotland are very much different countries with our own governments. It’s very different to the US. We have different cultures, norms, governments and currently Wales has a socialist agenda. Look it up.

[@-Zevin-]

@@fmj9346 I get what you are saying and I'm sympathetic, but it's just not true from a legal or international diplomacy perspective. US states also have regional customs, in Louisiana many people even speak French, they have their own court system their own judges, their own government. However Louisiana like Scotland or Wales does not have the autonomy or international relations of a actual nation. Nor can Wales or Scotland for example declare war, or ignore UK policy and law. They are not autonomous countries unless they leave the UK.

[@spadeysay6846]

@@-Zevin- That's what they need and what they wanted. That is to be free from the occupation by England.

[@-Zevin-]

@@spadeysay6846 Yeah I agree that is what they want, but it's not the reality now. There is a reason the UK is the United "Kingdom" notice kingdom isn't plural for a reason. This all started with the "treaty of Union" where one nation would be formed out of Scotland and England. England (which at the time already included Wales.) Notice there too that "England" referred to both England and Wales because Wales had no sovereignty and was not a separate nation. Of course this has nothing to do with what I want, or what "should be" this is just the reality.

[@zaffazad4040]

Very good analysis Dr. Wolff. One humble suggestion from a Canadian wellwisher, take the money out of your political system USA can fix its economic challenges, foreign policy challenges, social uplift, healthcare and infrastructure upkeep costs. You can't do anything in a country where lobbyists on Kay Street and Pennsylvania Ave. decide your economic, and foreign policy. It's the vested interests of corporations and individuals that have trapped the United States of America in the economic situation it is now. God Bless America and God BLess American politicians to put their people first.

[@dopaminey9946]

From the point of view of Plutocrats America is doing just fine. Greed is good!

[@jgwizo]

I am a believer to your views as you make the views realistic and pin them down to the relationships. I also am convinced the decline concept to be true and wonder if it could be mitigated by using the Chinese "win-win" strategy as it is live dependent and instead of letting go after loosing wars they have instead initiated African coups and conflicts.

[@linzierogers5024]

Professor Wolff is preaching the gospel of truth.

[@garyjones3142]

Just another Snake Oil sales man, you've been deceived again and don't even know it ! So so sad.

[@theresbob8878]

Excellent as always.

[@leealexander3507]

Whether we lost those wars is debatable. The big winners were our arms industry.

[@5353Jumper]

Obviously we could have physically won those wars easily with sheer numbers and force. The problem is trying to nicely win a war. We were defending not attacking and you cannot win without attack. The problem is our goals have mixed morality. We want to stop them but not obliterate them. And we do not want to take the losses on our side that would happen in the effort to obliterate the other side. It works sometimes with some wars, where there actually is a diplomatic solution. All we need to do is defend and stall action until tempers cool, leadership gets questioned and a diplomatic peace is reached. But in wars where no diplomatic peace is possible, one side needs to win, meaning obliterate the other side. Which is why peace needs to happen before war, because sometimes there is no way to morally win a war. So it's not that we lost, it's that there was no way to win morally when we went in.

[@dr.zoidberg8666]

@@5353Jumper Lmao xD trying to "nicely" win wars. Yeah, our death squads that literally murdered children to make an example of them were very nice. As were our drones blowing up hospitals, school, & wedding parties. Very nice. This is the same ridiculous copium that imperialists had after we were clowned on in Vietnam -- & that copium lead us to destabilizing Afghanistan in order to give the Soviets their "own Vietnam". Which, of course, lead to the current day. The US would have won in the Middle East if we could. Wins are good for empire... and remember, this is about power & money, not about "principles". Ask the people of Bolivia how much we really believe in democracy.

[@walden6272]

@@5353Jumper With sheer numbers and force? I guess you are not familiar with the Vietnam war. We went in full force, lost so much servicemen we had to institute mandatory drafts to get more soldiers. We even resorted to using chemical weapons against them aka Agent Orange. Still we lost.

[@garyjones3142]

That's the bottom line, your right !

[@susguy5]

Always love the intro and music 😅

[@JohnnyPeacenic]

if you dont manufacturer your own products your not a independent country. it's part of our decline

[@elsonsti]

manufacture seek cheap labour oversea. nothing wrong with that, unless make our labour salary same as vietnam or else we spend 50% more for domestic produced goods. take your pick.

[@wongpiangyow]

Very informative video. I always learn a lot watching Prof Wolffe. His enunciation and pace is good and easy to follow. If I may suggest, the tone used is quite sarcastic and can detract from the message. Presenting in a more neutral tone (like Prof Michael Hudson) would carry the message better. Still a worthwhile listen. Thank you.

[@changiiu8103]

There is no absolute objective point of view, regardless whether if you use a neutral tone or not. The traditional Cartesian and Newtonian worldview would suggest the subject, the observer can be totally disengaged from the situation while observing or illustrating it. This view has already turned down by Hegelian view in philosophy, or relativity theory or quantum mechanics in physics. So I don't think being sarcastic is fundamentally detracting, after all, every man has his own right of interpretation.

[@steppenwolf3252]

I enjoy the tone and find it adds to the message & makes me think.

[@TheCommonS3Nse]

I just saw a tweet from Jordan Peterson featuring Bret Weinstein. They were advising people to not change the system, but to instead focus on sorting themselves out so they can live within the system. That’s fine advice for someone living in Canada or Scandinavia, where the system generally works for the average person. That is terrible advice for someone living in the US with it’s failing system. You can try to sort yourself out all you want, but if your healthcare is tied to your employment, and your employment leaves town for cheaper labor in Mexico, all of your self improvement means nothing.

[@garyjones3142]

Cry baby

[@TheCommonS3Nse]

@@garyjones3142 I’m not crying about anything bud. I’m doing fine. American whites without a college degree on the other hand are killing themselves in droves. Combine that with the recent study showing young males are not as likely to attend college and you’re asking for a disaster. If you see that situation and honestly think that it is due to a lack of will, you’re delusional.

[@alexandraday6721]

I got pulled over before for “swerving” when I was clearly avoiding 12+ potholes on a road that was only 2 miles long. How convenient

[@danheucker1611]

single dad homeless in 11 days I was thinking maybe Tom Brady might share some of that PPP money they cut unemployment insurance haven't had 1 serious job offer in months. lost everything in 2009 also how many times do we have to start from scratch. no home here for working Americans just renting some space till the next disaster created by people with soft hands

[@garyjones3142]

Get a life and stop with the self pity stuff. Be lucky you don't live in North Korea !

[@zebrafinch12]

A very reassuring voice. Nice cadence and tone.

[@mattolivier1835]

For a demon.

[@wy3131]

The problem with workers is one of unity and common lack of altruism. 1000 selfish people pulls the direction of the collection in 1000 ways, destroying the collective in the process.

[@garyjones3142]

Pay people not to go to work, that will solve the problem. Just build back broke-----JB

[@kriskris4776]

Very good video

[@richardjarrell3585]

Nobody said the fall of the empire would be pretty.

[@Cheesecake99YearsAgo]

Time to migrate to the rising side lol

[@dalegamburg8995]

Yeah but you need capital to start a business .so,how do you link worker power to capital access,since workers are denied capitol.

[@transsylvanian9100]

You don't. The idea that you can or should stop at a system that has merely replaced private enterprises with co-ops is ridiculous. The market economy itself needs to be replaced ultimately. Competition should be replaced by rationally co-ordinated cooperation. The profit motive needs to be eliminated and instead social benefit instituted as a measure of success. Resources and capital can and should be able to be continually reallocated according to need, that is revenue is extracted from the more financially lucrative but less essential sectors of the economy (non-essential consumer goods) and invested into less financially lucrative but more essential sectors (heavy industry, infrastructure, healthcare, housing, etc.). The essential sectors would of course be nationalized while the less essential ones would be allowed to continue as co-ops and startup capital would be available from state/collective development funds in accordance with a democratically established vision for the overall direction of the economy.

[@genreartwithjb5095]

Def Jam did a great job on your intro music

[@garyjones3142]

Yes Like that really means something!

[@MrDanrn999]

Thank you

[@wrinkleypinkley]

Hmm; ,,der Metzer" what I always use for "butcher" in German. Unless they are female; then I use ,,Metzgerin". The name "Fleischer" is a very German way of using words, though. 🙂

[@nigeljones9479]

"I don't believe we shall ever have a good money again before we take the thing out of the hands of governments... all we can do is by some sly roundabout way introduce something that they can't stop." F. A Hayek 1984

[@clarestucki5151]

We have not "lost two 2o yr wars to two of the poorest countries in the world". What we actually did was fail at two misguided attempts at 'nation building'! Let's hope we're not stupid enough to ever try that again.

[@Huwadwink]

Nation building? 😀😄😆😂

[@scottclute7443]

Brexit. What was that about again???

[@scottclute7443]

So very true!!!!

[@jjetta264]

Thank you Pof. Wolff. This show is one of your best. It is highly enlightened.

[@garyjones3142]

Go back to sleep, please !

[@santoss2428]

🤭 love you so much professor Wolff 💝💝

[@garyjones3142]

Yea! Like a bad divorce ! Go Brandon !

[@cavhaynes]

Is it possible some of the flooding in the Northeast has been mischaracterized as a ‘climate change’ issue and it’s a maintenance issue?

[@cavhaynes]

@21:25 Neglect is a great word.

[@jared5015]

Please, please read The Deficit Myth by Stephanie Kelton. Local spending is not like federal spending; the currency issuer doesn't have to "borrow". If you want to end austerity, then dispel the false premises to its logic.

[@RussCR5187]

Wolff refuses to "get it" when it comes to MMT.

[@jared5015]

@@RussCR5187 Hate it when he says "money printing", especially in regards to monetary policy. If QE is money printing, is raising interest rates money un-printing? By Wolff's reasoning, which is worse?

[@garyjones3142]

We really don't want to end prosperity or austerity at this point in time!

[@anhedonic-voting]

Thank you🌎✊🌹🗽 The Craft Butchery Fleishers company story is perfect! Clip the story and make it an individual KZbin video to repost 💛

[@uss888999]

Excellent presentation and Summary of Facts, filled with entertaining Sarcasms. Professor Wolff for the next President, for the betterment pf the USA and the World in general. But alas, not going to happen. Reason , Total multiple System failures! 😢 😢

[@rustylidrazzah5170]

I have been listening to the Professor, and others like him, so long that I could finish his thoughts on this topic. One thing I don’t hear often enough is solutions. I am well aware of the critique, but it would be nice to start problem solving. The American duopoly, Wall Street, corporate boards, lobbyists, suburban car culture, and the rest of the systemic problems are now obvious to anyone paying attention. Those who don’t know by now are religious about their views on the system.

[@jgalt308]

@@ministryoftruth8090 Except the co-op system is the capitalist one... which requires you to take the risk to reap the rewards. Apparently the will to do this as well as the funds don't seem to be available. But Wolff has achieved funding by begging for support so he can keep talking about it. Of course, the numbers are already available for all the co-ops of every kind worldwide......they show that the 12.5 million co-op jobs that exist, require 1 BILLION consumers, members etc. (see second link) The math gets really interesting when you try to expand this, considering that 1/2 the world's population lives on $10/day or less.... While the present minimum wage worker in the US is making 15,080, with is 5.3 times the global median, and puts them in the top 13.7% in terms of global income. All of these co-ops produce a total revenue of 3 trillion.....and most are in the developed nations.... so just for fun, lets say that using 3 trillion to employ 12.5 million....then 21 trillion would employ...87.5 million....and require 7 billion consumers to support those 87.5 million. Links removed and posted in the reply to avoid deletion...

[@jgalt308]

Looks like they definitely are not going to allow those links...sorry.

[@jgalt308]

@@ministryoftruth8090 The last I checked the definition of "socialism" it said government ownership or control of the "means of production"... whereas capitalism was "private ownership of the means of production"...but in the new world of newspeak/doublespeak...what is called capitalism now...involves no production at all.

[@jgalt308]

@@ministryoftruth8090 ✔😎👍

[@rustylidrazzah5170]

The co-op, or democratized workplace, is a good step. It isn’t a fix all for everything that is wrong with the system. It does little to fix resource constraints, climate change, political corruption, or corporatism. As far as 65% of people being satisfied with their jobs?, non factor. Polls, and opinions, change fast. Let water, fire, environmental degradation, wealth inequality, and inflation run a little longer. I bet those opinions change quick. The very idea of a job is on the table now. A vast majority of jobs are useless tasks to occupy time. Most could be automated, or eliminated, without anyone noticing.